PFO ETF

$9.22

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AUM$133M

Holdings260

PFO ETF

$9.22

Flaherty & Crumrine Preferred Income Opportunity Fund Inc

AUM$133M

Holdings260

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Leveraged fundWeights reflect notional exposure via swaps/derivatives and do not sum to 100%.

Net exposure

140.6%

Gross exposure

140.6%

Long

140.6%

Cash & collateral

0.2%

As of Nov 28, 2025

Showing top 20 of 260 holdings— Unlock all holdings(as of Nov 28, 2025)

#	Ticker ↕	Name ↕	Weight ↓	Shares ↕	Mkt Value ↕	Share Chg	Sector	Industry
1	UNM 7.405 03/15/38	Provident Financing Trust I	3.99%	-	$5.39M	••••••	••••••••	••••••••
2	SOCGEN V9.375 PERP 1	Societe Generale Sa	3.48%	-	$4.70M	••••••	••••••••	••••••••
3	MET 9.25 04/08/38	Metlife Inc Jr Subordina 144a 04/38 9.25	2.98%	-	$4.02M	••••••	••••••••	••••••••
4	MS.PF	Morgan Stanley, Series F, Pfd.	2.77%	148,000	$3.74M	••••••	••••••••	••••••••
5	FLG V6.375 PERP A.	New York Community Bancorp, Inc., Series A., Pfd.	2.75%	166,600	$3.72M	••••••	••••••••	••••••••
6	LLAKES 8 PERP 144A	Land O'Lakes Inc 8% /perp	2.66%	-	$3.59M	••••••	••••••••	••••••••
7	FITBI	Fifth Third Bancorp - Series I	2.64%	139,104	$3.57M	••••••	••••••••	••••••••
8	LIBMUT 7.8 03/15/37	Liberty Mutual Group Inc	2.61%	-	$3.53M	••••••	••••••••	••••••••
9	HSBA:LN	Hsbc Holdings Plc	2.60%	-	$3.51M	••••••	••••••••	••••••••
10	DFG	Delphi Financial Group Inc	2.38%	129,700	$3.21M	••••••	••••••••	••••••••
11	MET 10.75 08/01/39	Metlife Inc 10.75 08/01/2039	2.34%	-	$3.16M	••••••	••••••••	••••••••
12	BNP V7.75 PERP 144A	Bnp Paribas Sa	2.30%	-	$3.11M	••••••	••••••••	••••••••
13	SANTAN V4.75 PERP 00	Banco Santander, S.A. 4.75% Perp	2.20%	-	$2.97M	••••••	••••••••	••••••••
14	CMA	Comerica Inc.	2.00%	104,660	$2.70M	••••••	••••••••	••••••••
15	RF.PR.C	Regions Financial Corp	1.97%	111,980	$2.66M	••••••	••••••••	••••••••
16	PNC V6 PERP U	The Pnc Financial Services Group, Inc. 6.00% Dec 31/99 6% 12/31/2099	1.77%	-	$2.39M	••••••	••••••••	••••••••
17	SNV	Synovus Financial Corp	1.65%	84,266	$2.22M	••••••	••••••••	••••••••
18	ATH 4.875 PERP D	Athene Holding Ltd Pref	1.65%	89,850	$2.22M	••••••	••••••••	••••••••
19	BBVASM V6.125 PERP	Banco Bilbao Vizcaya Argentaria Sa 6.125 11/16/2027	1.64%	-	$2.22M	••••••	••••••••	••••••••
20	LIBMUT 7.697 10/15/9	Liberty Mutual Insurance, 7.697% Due October 15, 2097	1.59%	-	$2.14M	••••••	••••••••	••••••••

240+ more holdings available

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PFO ETF All Holdings

PFO holdings total 260 positions. The top 10 holdings account for 28.9% of the fund, led by Provident Financing Trust I at 4.0%, Societe Generale Sa at 3.5%, Metlife Inc Jr Subordina 144a 04/38 9.25 at 3.0%.

PFO portfolio concentration is well-diversified, with the top 10 representing 28.9% of total assets. The largest sector exposure is Financials at 90.9%.

PFO sector allocation provides a detailed breakdown. PFO overlap tool shows how holdings compare to other funds in your portfolio.

PFO ETF Holdings

211 of 260 holdings

Sector

Industry

Sort By

1
Provident Financing Trust I
UNM 7.405 03/15/38Financials
3.99%
2
Societe Generale Sa
SOCGEN V9.375 PERP 1Financials
3.48%
3
Metlife Inc Jr Subordina 144a 04/38 9.25
MET 9.25 04/08/38Financials
2.98%
4
Morgan Stanley, Series F, Pfd.
MS.PFFinancials
2.77%
5
New York Community Bancorp, Inc., Series A., Pfd.
FLG V6.375 PERP A.Financials
2.75%
6
Land O'Lakes Inc 8% /perp
LLAKES 8 PERP 144AConsumer Staples
2.66%
7
Fifth Third Bancorp - Series I
FITBIFinancials
2.64%
8
Liberty Mutual Group Inc
LIBMUT 7.8 03/15/37 Financials
2.61%
9
Hsbc Holdings Plc
HSBA:LNUnknown
2.60%
10
Delphi Financial Group Inc
DFGUnknown
2.38%
11
Metlife Inc 10.75 08/01/2039
MET 10.75 08/01/39Financials
2.34%
12
Bnp Paribas Sa
BNP V7.75 PERP 144AFinancials
2.30%
13
Banco Santander, S.A. 4.75% Perp
SANTAN V4.75 PERP 00Financials
2.20%
14
Comerica Inc.
CMAFinancials
2.00%
15
Regions Financial Corp
RF.PR.CFinancials
1.97%
16
The Pnc Financial Services Group, Inc. 6.00% Dec 31/99 6% 12/31/2099
PNC V6 PERP UFinancials
1.77%
17
Synovus Financial Corp
SNVFinancials
1.65%
18
Athene Holding Ltd Pref
ATH 4.875 PERP DFinancials
1.65%
19
Banco Bilbao Vizcaya Argentaria Sa 6.125 11/16/2027
BBVASM V6.125 PERPFinancials
1.64%
20
Liberty Mutual Insurance, 7.697% Due October 15, 2097
LIBMUT 7.697 10/15/9Financials
1.59%
21
Emera Inc V/R 06/15/76
EMACN V6.75 06/15/76Utilities
1.52%
22
Lloyds Bk Gr Plc
Other
1.32%
23
Keycorp, Series E, Pfd.
KEY.PIFinancials
1.29%
24
Wells Fargo & Co
WFC.PR.AFinancials
1.29%
25
Standard Chartered Plc
STANLN V7.75 PERP 14Financials
1.27%
26
American Intl Group 8.175 05/15/2058
Other
1.25%
27
Citizens Financial Group 12/99 1
CFG V6.375 PERP CFinancials
1.19%
28
Banco Bilbao Vizcaya Argentaria Sa 9.375
BBVASM V9.375 PERPFinancials
1.16%
29
Enbridge Inc V/R 03/15/55
ENBCN V7.375 03/15/5Energy
1.12%
30
Algonquin Pwr & Utility Flt 07/01/79 Sr:19-A
AQNBUtilities
1.11%
31
Banco Santander Sa 0 03-01-2024
Other
1.07%
32
Keycorp KEY.PR.L
KEY.PR.LFinancials
1.07%
33
Blackrock Liquidity Funds T-Fund
TSTXXFinancials
1.05%
34
Transcanada Trust 5.5% 09/15/2079
TRPCN V5.5 09/15/79Financials
1.04%
35
Amer Agcredit Aca Jr Subordina 144A Var 5.25% 2099-12-31
AAGACA V5.25 PERP QIFinancials
1.01%
36
Citigroup Inc
C V4.15 PERP YFinancials
0.95%
37
WesBanco Inc
WSBCFinancials
0.94%
38
Edison Intl 5 3/71
EIX V5 PERP BUtilities
0.92%
39
Paramount Global, 6.37%, Due 03/30/2062
PARA V6.375 03/30/62Communication Services
0.92%
40
Dominion Energy Inc 09/11/2023
Other
0.91%
41
Morgan Stanley, Series E, Pfd.
MS.PEFinancials
0.91%
42
Peco Energy Capital Trust Iii
Other
0.89%
43
Arbor Realty Trust Prfd F
ABR.PR.FFinancials
0.89%
44
Energy Transfer Lp Regd V/R /Perp/ Ser G 7.12500000
ET V7.125 PERP GEnergy
0.88%
45
Goldman Sachs Group Inc/the
GS V7.56 PERP RFinancials
0.84%
46
Northpointe Bancshares Inc.
NRTBNCUnknown
0.84%
47
Synchrony Financial
SYFFinancials
0.84%
48
Ft Real Estate Secs /pfd//res/
FHNUnknown
0.83%
49
Kkr Real Estate Fin Tr 6.5 Cum Pfd
KREF.PAFinancials
0.82%
50
Psx V6.2 03/15/56 B Corp
Other
0.81%
51
Eushi Finance Inc 7.63% 12/15/2054
Other
0.78%
52
Jpmorgan Chase & Co., Series Nn 6.875%
JPM V6.875 PERP NNFinancials
0.78%
53
Enbridge Inc Subordinated 01/77 Var 01/15/2077
ENBCN V6 01/15/77 16Energy
0.77%
54
Kuvare Us Holdings Inc
KUVARE V7 02/17/51 1Financials
0.76%
55
Enstar Group Ltd
ESGRFinancials
0.74%
56
Everest Reinsurance Holdings Inc
Other
0.73%
57
Entergy Corp 7.13% 01Dec2054
ETR V7.125 12/01/54Utilities
0.72%
58
Sbl Holdings, Llc 6.5% 12/31/2099
Other
0.72%
59
PNC Financial Services Group, 3.5% 23jan2024
Other
0.71%
60
Reinsurance Group Of America, Inc
RGAFinancials
0.71%
61
Ally Financial Inc. 5Y Us Ti + 3.868 12/31/2049
ALLY V4.7 PERP BFinancials
0.70%
62
Sbl Holdings Inc Sr Unsecured 144a Var
Other
0.69%
63
Sempra Energy, 4.12%, Due 04/01/2052
SRE V4.125 04/01/52Utilities
0.69%
64
Royal Bank Of Canada Jr Subordina 11/84 Var
RY V6.35 11/24/84Financials
0.68%
65
American Electric V/R 12/15/54
AEP V6.95 12/15/54Utilities
0.68%
66
Algonquin Power & Utilities Corp 01-18-2082
AQNCN V4.75 01/18/82Utilities
0.66%
67
Comed Financing Iii
Other
0.66%
68
Umb Financial Corp
UMBFFinancials
0.65%
69
Duke Energy Corp Jr Subordina 09/54 Var
DUK V6.45 09/01/54Utilities
0.64%
70
Aercap Ireland Capital Dac / Aercap Global Aviation Trust Var.Rt. Corp. Bonds
AER V6.95 03/10/55Financials
0.63%
71
Nextera Energy Capital Ho 6.68588 06/14/2067
NEE V0 06/15/67Utilities
0.61%
72
Capital One Ficial Corporation 3.95% 12/31/2099
COF V3.95 PERP MFinancials
0.60%
73
First Citizens BancShares Inc
FCNCAFinancials
0.60%
74
ConnectOne Bancorp Inc
CNOBP.PFinancials
0.59%
75
Energy Transfer
ETEnergy
0.59%
76
Sce Trust V
SCE.PKUtilities
0.59%
77
Enbridge Inc 8.5% 01/15/2084
ENBCN V8.5 01/15/84Energy
0.58%
78
Huntington Bancshares Inc./Oh
HBANFinancials
0.57%
79
Banco Mercantil Del Norte Sa/grand Cayman
Other
0.57%
80
Bank Of Nova Scotia/The 8 01-27-2084
BNS V8 01/27/84Financials
0.57%
81
General Motors Financial Co In Jr Subordina 12/99 Var
GM V6.5 PERP BFinancials
0.54%
82
Sce Trust Vii
SCE.PRMUtilities
0.54%
83
Cnp 3.6 11/01/21
Other
0.52%
84
Societe Generale Jr Subordina 144A 12/99 Var
Other
0.52%
85
State Street Corp Jr Subordina 12/99 Var 6.7
STT V6.7 PERP IFinancials
0.52%
86
Aes Corp/The 7.6% 15Jan2055
AES V7.6 01/15/55Utilities
0.51%
87
Bank Of Montreal (Callable) 7.70% May 26, 2084
BMO V7.7 05/26/84Financials
0.51%
88
Bell Telephone Company (Nc10.5) 7 09/15/2055
BCECN V7 09/15/55Communication Services
0.50%
89
Royal Bank Of Canada 7.5% May 02, 2084
RY V7.5 05/02/84Financials
0.50%
90
Societe Generale Sa
Other
0.49%
91
Citizens Financial Group Inc.
CFGFinancials
0.48%
92
Global Atlantic Finance Co.
GBLATL 7.95 06/15/33Financials
0.48%
93
Wells Fargo + Company Jr Subordina 12/99 Var
WFC V3.9 PERP BBFinancials
0.48%
94
Athene (Ath) / Apollo Global Management (Apo)
APOFinancials
0.48%
95
Royal Bank Of Canada 6.500% Flt 11/24/85
Other
0.47%
96
Liberty Mutual Gr V/R 12/15/51
LIBMUT V4.125 12/15/Financials
0.46%
97
Bank Of America Corp Jr Subordina 12/99 Var 6.625 07/24/2025
BAC V6.25 PERPFinancials
0.46%
98
Barclays PLC 4.375%
BACR V4.375 PERPFinancials
0.45%
99
Ally Finl Inc 4.7%/Var Perp
ALLY V4.7 PERP CFinancials
0.44%
100
Axis Capital Holdings Ltd. 4.9 1/15/2040
AXS V4.9 01/15/40Financials
0.44%
101
Wintrust Financial Corp
WTFCFinancials
0.44%
102
UBS Group, 4.875% perp., USD
UBS V4.875 PERP 144AFinancials
0.43%
103
Canadian Imperial Bank 7.000% Flt 10/28/85
CM V7 10/28/85Financials
0.42%
104
Evergy Inc Subordinated 06/55 Var
EVRG V6.65 06/01/55Utilities
0.42%
105
Goldman Sachs Group Inc/The Goldman Sachs Group Inc/The (Pfd) 5.50% 02/10/2173 Perpetual
GS V7.379 PERP QFinancials
0.42%
106
Sempra 5.5 08/01/2033
SRE 5.5 08/01/33Utilities
0.42%
107
Corebridge Financial Inc Variable Rate, Due 09/15/2054
CRBG V6.375 09/15/54Financials
0.41%
108
General Motors Financial Co Inc (Pfd) 5.70% 03/30/2172 Perpetual
GM V5.7 PERP CFinancials
0.41%
109
Voya Financial Inc.
VOYAFinancials
0.41%
110
PartnerRe Ltd.
PRE.J:BMUnknown
0.41%
111
Bank Of N Vrn 10/27/85
Other
0.41%
112
American Express Company
AXP V3.55 PERPFinancials
0.40%
113
Banco Mercantil De Norte Regd V/R /Perp/ 144A P/P 6.62500000
BANORT V6.625 PERP 1Financials
0.40%
114
Dte Energy Company
DTEUtilities
0.40%
115
Northwest Natural Holdi Jr Subordina 09/55 Var 7% 09/15/2055
NWN V7 09/15/55Utilities
0.40%
116
Texas Capital Bancshares Inc
TCBIFinancials
0.40%
117
Xcel Energy, Inc
XELUtilities
0.40%
118
Nisource Inc 6.95% 11/30/2054
NI V6.95 11/30/54Utilities
0.39%
119
Pnc Financial Servi V/R /Perp/
PNC V6.2 PERP VFinancials
0.39%
120
Bank Nova Scoti 7.35 4/85
BNS V7.35 04/27/85Financials
0.39%
121
Dominion Energy Inc 4.350000% Maturity: Perpetual Callable 01/15/2027 At 100.0000
D V4.35 PERP CUtilities
0.38%
122
Fmc Corp V/R 11/01/55
FMC V8.45 11/01/55Materials
0.38%
123
Rogers Communications, Inc.
RCICN V5.25 03/15/82Communication Services
0.38%
124
Credit Agricole Sa 7.13% Sep 23/35
Other
0.37%
125
Dime Community Bancshares Inc
DCOMP.PFinancials
0.37%
126
Ing Groep Nv
INTNED V3.875 PERPFinancials
0.37%
127
South Bow Canadian Infrastructure Holdings Ltd 0.075 03/01/2055
SOBOCNUtilities
0.37%
128
Smb Private Education Loan Trust, Series 2022-D, Class D, 7.23% 10/15/2058
Other
0.37%
129
American National Group Inc
AEL.PRAUnknown
0.37%
130
Banco Mercantil Del Norte Variable Rate
BANORTFinancials
0.37%
131
Bbva Bancomer Sa V/R 09/13/34
BBVASM V5.875 09/13/Financials
0.36%
132
Enstar Finance Ll V/R 01/15/42
ESGR V5.5 01/15/42Financials
0.36%
133
Hsbc Holdings Plc 6 05/22/2027
HSBC V6 PERP *Financials
0.36%
134
M&T Bank Corp
MTBFinancials
0.36%
135
M&T Bank Corp 3.500000% Maturity: Perpetual
MTB V3.5 PERPFinancials
0.36%
136
Qwest Corp Preferred Stock 06/57 6.75
CTDDCommunication Services
0.36%
137
Tpg Operating Group Ii Lp
TPGXLFinancials
0.36%
138
Cvs Health Corp 7% 10Mar2055
CVS V7 03/10/55Health Care
0.35%
139
Canadian Imperial Bank Jr Subordina 01/85 Var
CM V6.95 01/28/85Financials
0.35%
140
Adamas Trust, Inc.
ADAMLFinancials
0.35%
141
Stifel Financial Corporation
SFFinancials
0.35%
142
Valley National Bancorp
VLYFinancials
0.35%
143
Altagas Ltd V/R 10/15/54
ALACN V7.2 10/15/54 Utilities
0.35%
144
Sce Trust Viii
EIX 6.95 PERP NUtilities
0.34%
145
Spire Inc. 0% 05/31/2056
Other
0.34%
146
Entergy Corp Jr Subordina 06/56 Var 06/15/2056
Other
0.33%
147
Equitable Holdings Inc
Other
0.33%
148
Farm Credit Bk Of Texas Jr Subordina 12/99 Var
FARMCB V7 PERP 6Financials
0.33%
149
Morgan Stanley 5.3% 12/31/2049
MS V0 PERP NFinancials
0.33%
150
American Electric Power Jr Subordina 03/56 Var
Other
0.33%
151
Sunoco LP 7.88 03/18/2174
Other
0.32%
152
Ubs Group Ag 144A 4.375000% Maturity: Perpetual
UBS V4.375 PERP 144AFinancials
0.32%
153
Citigroup Inc 3.88% 12/31/2099
C V3.875 PERP XFinancials
0.31%
154
Cobank, Acb 6.25 09/30/2173
COBKACFinancials
0.31%
155
ROYAL BANK OF CANADA JR SUBORDINA 08/85 VAR
RY V6.75 08/24/85Financials
0.31%
156
Cadence Bancorp Common Stock
CADEFinancials
0.30%
157
Fortegra Group Inc/The 9.25 11/15/2064
Other
0.30%
158
Telus Corp V/R 10/15/55
TCN V7 10/15/55Communication Services
0.30%
159
Bnp Paribas Sa 9.25% Nov 17/27
BNP V9.25 PERP 144AFinancials
0.30%
160
Aercap Ireland Cap/Globa Company Guar 01/56 Var
AER V6.5 01/31/56Financials
0.29%
161
Corebridge Financial, Inc. 6.88% Dec 01/30
Other
0.29%
162
Edison International 5Y Us Ti + 4.698 12/31/2049
EIX V5.375 PERP AUtilities
0.29%
163
Lincoln National Corp.
LNCFinancials
0.29%
164
Lincoln National, 9.25% perp., USD
LNC V9.25 PERP CFinancials
0.29%
165
Metlife Capital Trust Iv
MET 7.875 12/15/37Financials
0.29%
166
F&G Annuities & Life Inc
FGFinancials
0.28%
167
Qwest Corp Preferred Stock 09/56 6.5
CTBBCommunication Services
0.28%
168
Tpg Re Finance Trust Inc
TRTXFinancials
0.28%
169
Western Alliance Bancorp Common Stock Usd 0.0001
WALFinancials
0.28%
170
Renaissancere Holdings L /Pfd/
RNR.GUnknown
0.27%
171
First Horizon Natl Corp 6.5 Pfd
FHN.PEFinancials
0.26%
172
Toronto-Dominion Bank/The
Other
0.26%
173
Bank Of Montreal Jr Subordina 11/84 Var %
BMO V7.3 11/26/84Financials
0.26%
174
Barclays Plc 8 12/71
BACR V8 PERPFinancials
0.26%
175
Cms Energy Corp V/R 06/01/55
CMS V6.5 06/01/55Utilities
0.25%
176
Exelon Corporation 6.5% Mar 15, 2055
EXC V6.5 03/15/55Utilities
0.25%
177
Universal Insurance Holdings, Inc.
Other
0.25%
178
Axis Capital Holdings Ltd
AXSFinancials
0.25%
179
Perpetual Bonds
Other
0.24%
180
Webster Financial Corp
WBS.PR.GFinancials
0.24%
181
Prudential Financial Inc 5.7% 12/14/2036
PRU 5.7 12/14/36 MTNFinancials
0.22%
182
Societe Generale 6.75% Perp.
Other
0.22%
183
Corporate Bonds
BNP V4.625 PERP 144AFinancials
0.22%
184
Bank Of America Corp Jr Subordina 12/49 Var 6.3
BAC V6.3 PERP DDFinancials
0.22%
185
Compeer Financial Aca
AGSTAR V4.875 PERP QFinancials
0.21%
186
Huntington Bancshares Regd V/r /perp/ Ser F 5.62500000
HBAN V5.625 PERP FFinancials
0.21%
187
Jackson Financial Inc., Pfd.
JXN V8 PERPFinancials
0.21%
188
Standard Chartered Plc
Other
0.21%
189
Wafd Inc
WAFDFinancials
0.21%
190
Huntington Bancshares Incorporated 4.45% Oct 15/27
HBAN V4.45 PERP GFinancials
0.20%
191
Pnc Financial Services Jr Subordina 12/99 Var
PNC V3.4 PERP TFinancials
0.20%
192
Wells Fargo & Co., Class A, Series L, Conv. Pfd.
WFC.PRLFinancials
0.20%
193
Bank Of New York Mellon C 5.95 12/19/2173
Other
0.20%
194
Assurant, Inc.
AIZNFinancials
0.19%
195
Capital One Financial Corporation Depositary Shs Repr 1/40Th 5% Non-Cum Red Perp Pfd Registered Shs
COF.PR.IFinancials
0.19%
196
Natwest Group Pl
NWG V4.6 PERP .*.Financials
0.19%
197
Natwest Group Plc 1Y Us Ti + 2.55 05/22/2028
NWG V3.073 05/22/28Financials
0.17%
198
Banco Mercantil Del Norte, S.a.
BANORT V7.5 PERP 144Financials
0.17%
199
CNO Financial Group Inc
CNO.PFinancials
0.16%
200
Land O' Lakes Inc 144a 7.250000% Maturity: Perpetual
LLAKES 7.25 PERP 144Consumer Staples
0.16%
201
Citigroup, Inc. Pref
C V4 PERP WFinancials
0.15%
202
Arch Capital Group Ltd 5.45%
ACGLOFinancials
0.15%
203
American Electric Power Co. Inc. 5Y Us Ti + 2.675 02/15/2062
AEP V3.875 02/15/62Utilities
0.14%
204
Carlyle Finance LLC
CGABLFinancials
0.14%
205
Fulton Financial Corp
FULTP.PFinancials
0.11%
206
Vistra Corp Regd V/R /Perp/ 144A P/P 7.00000000
VST V7 PERP 144AUtilities
0.10%
207
Arbor Rlty Tr Inc 6.375 Cum Pfd
ABR.PDFinancials
0.07%
208
Annaly Capital Mgmt Ser F
NLY.FFinancials
0.06%
209
Lehman Bros Hldg-Escrow
Other
0.00%
210
Drb5588838.Srdup 28.86 2030-07-02
Other
0.00%
211
Morgan Stanley 5.192% 4/17/2031 (Usd-Sofr + 1.51% On 4/17/2030)
Other
0.00%

#	Company	Ticker	Weight
1	Provident Financing Trust I	UNM 7.405 03/15/38	3.990%
2	Societe Generale Sa	SOCGEN V9.375 PERP 1	3.480%
3	Metlife Inc Jr Subordina 144a 04/38 9.25	MET 9.25 04/08/38	2.980%
4	Morgan Stanley, Series F, Pfd.	MS.PF	2.770%
5	New York Community Bancorp, Inc., Series A., Pfd.	FLG V6.375 PERP A.	2.750%
6	Land O'Lakes Inc 8% /perp	LLAKES 8 PERP 144A	2.660%
7	Fifth Third Bancorp - Series I	FITBI	2.640%
8	Liberty Mutual Group Inc	LIBMUT 7.8 03/15/37	2.610%
9	Hsbc Holdings Plc	HSBA:LN	2.600%
10	Delphi Financial Group Inc	DFG	2.380%
11	Metlife Inc 10.75 08/01/2039	MET 10.75 08/01/39	2.340%
12	Bnp Paribas Sa	BNP V7.75 PERP 144A	2.300%
13	Banco Santander, S.A. 4.75% Perp	SANTAN V4.75 PERP 00	2.200%
14	Comerica Inc.	CMA	2.000%
15	Regions Financial Corp	RF.PR.C	1.970%
16	The Pnc Financial Services Group, Inc. 6.00% Dec 31/99 6% 12/31/2099	PNC V6 PERP U	1.770%
17	Synovus Financial Corp	SNV	1.650%
18	Athene Holding Ltd Pref	ATH 4.875 PERP D	1.650%
19	Banco Bilbao Vizcaya Argentaria Sa 6.125 11/16/2027	BBVASM V6.125 PERP	1.640%
20	Liberty Mutual Insurance, 7.697% Due October 15, 2097	LIBMUT 7.697 10/15/9	1.590%
21	Emera Inc V/R 06/15/76	EMACN V6.75 06/15/76	1.520%
22	Lloyds Bk Gr Plc	-	1.320%
23	Keycorp, Series E, Pfd.	KEY.PI	1.290%
24	Wells Fargo & Co	WFC.PR.A	1.290%
25	Standard Chartered Plc	STANLN V7.75 PERP 14	1.270%
26	American Intl Group 8.175 05/15/2058	-	1.250%
27	Citizens Financial Group 12/99 1	CFG V6.375 PERP C	1.190%
28	Banco Bilbao Vizcaya Argentaria Sa 9.375	BBVASM V9.375 PERP	1.160%
29	Enbridge Inc V/R 03/15/55	ENBCN V7.375 03/15/5	1.120%
30	Algonquin Pwr & Utility Flt 07/01/79 Sr:19-A	AQNB	1.110%
31	Banco Santander Sa 0 03-01-2024	-	1.070%
32	Keycorp KEY.PR.L	KEY.PR.L	1.070%
33	Blackrock Liquidity Funds T-Fund	TSTXX	1.050%
34	Transcanada Trust 5.5% 09/15/2079	TRPCN V5.5 09/15/79	1.040%
35	Amer Agcredit Aca Jr Subordina 144A Var 5.25% 2099-12-31	AAGACA V5.25 PERP QI	1.010%
36	Citigroup Inc	C V4.15 PERP Y	0.950%
37	WesBanco Inc	WSBC	0.940%
38	Edison Intl 5 3/71	EIX V5 PERP B	0.920%
39	Paramount Global, 6.37%, Due 03/30/2062	PARA V6.375 03/30/62	0.920%
40	Dominion Energy Inc 09/11/2023	-	0.910%
41	Morgan Stanley, Series E, Pfd.	MS.PE	0.910%
42	Peco Energy Capital Trust Iii	-	0.890%
43	Arbor Realty Trust Prfd F	ABR.PR.F	0.890%
44	Energy Transfer Lp Regd V/R /Perp/ Ser G 7.12500000	ET V7.125 PERP G	0.880%
45	Goldman Sachs Group Inc/the	GS V7.56 PERP R	0.840%
46	Northpointe Bancshares Inc.	NRTBNC	0.840%
47	Synchrony Financial	SYF	0.840%
48	Ft Real Estate Secs /pfd//res/	FHN	0.830%
49	Kkr Real Estate Fin Tr 6.5 Cum Pfd	KREF.PA	0.820%
50	Psx V6.2 03/15/56 B Corp	-	0.810%
51	Eushi Finance Inc 7.63% 12/15/2054	-	0.780%
52	Jpmorgan Chase & Co., Series Nn 6.875%	JPM V6.875 PERP NN	0.780%
53	Enbridge Inc Subordinated 01/77 Var 01/15/2077	ENBCN V6 01/15/77 16	0.770%
54	Kuvare Us Holdings Inc	KUVARE V7 02/17/51 1	0.760%
55	Enstar Group Ltd	ESGR	0.740%
56	Everest Reinsurance Holdings Inc	-	0.730%
57	Entergy Corp 7.13% 01Dec2054	ETR V7.125 12/01/54	0.720%
58	Sbl Holdings, Llc 6.5% 12/31/2099	-	0.720%
59	PNC Financial Services Group, 3.5% 23jan2024	-	0.710%
60	Reinsurance Group Of America, Inc	RGA	0.710%
61	Ally Financial Inc. 5Y Us Ti + 3.868 12/31/2049	ALLY V4.7 PERP B	0.700%
62	Sbl Holdings Inc Sr Unsecured 144a Var	-	0.690%
63	Sempra Energy, 4.12%, Due 04/01/2052	SRE V4.125 04/01/52	0.690%
64	Royal Bank Of Canada Jr Subordina 11/84 Var	RY V6.35 11/24/84	0.680%
65	American Electric V/R 12/15/54	AEP V6.95 12/15/54	0.680%
66	Algonquin Power & Utilities Corp 01-18-2082	AQNCN V4.75 01/18/82	0.660%
67	Comed Financing Iii	-	0.660%
68	Umb Financial Corp	UMBF	0.650%
69	Duke Energy Corp Jr Subordina 09/54 Var	DUK V6.45 09/01/54	0.640%
70	Aercap Ireland Capital Dac / Aercap Global Aviation Trust Var.Rt. Corp. Bonds	AER V6.95 03/10/55	0.630%
71	Nextera Energy Capital Ho 6.68588 06/14/2067	NEE V0 06/15/67	0.610%
72	Capital One Ficial Corporation 3.95% 12/31/2099	COF V3.95 PERP M	0.600%
73	First Citizens BancShares Inc	FCNCA	0.600%
74	ConnectOne Bancorp Inc	CNOBP.P	0.590%
75	Energy Transfer	ET	0.590%
76	Sce Trust V	SCE.PK	0.590%
77	Enbridge Inc 8.5% 01/15/2084	ENBCN V8.5 01/15/84	0.580%
78	Huntington Bancshares Inc./Oh	HBAN	0.570%
79	Banco Mercantil Del Norte Sa/grand Cayman	-	0.570%
80	Bank Of Nova Scotia/The 8 01-27-2084	BNS V8 01/27/84	0.570%
81	General Motors Financial Co In Jr Subordina 12/99 Var	GM V6.5 PERP B	0.540%
82	Sce Trust Vii	SCE.PRM	0.540%
83	Cnp 3.6 11/01/21	-	0.520%
84	Societe Generale Jr Subordina 144A 12/99 Var	-	0.520%
85	State Street Corp Jr Subordina 12/99 Var 6.7	STT V6.7 PERP I	0.520%
86	Aes Corp/The 7.6% 15Jan2055	AES V7.6 01/15/55	0.510%
87	Bank Of Montreal (Callable) 7.70% May 26, 2084	BMO V7.7 05/26/84	0.510%
88	Bell Telephone Company (Nc10.5) 7 09/15/2055	BCECN V7 09/15/55	0.500%
89	Royal Bank Of Canada 7.5% May 02, 2084	RY V7.5 05/02/84	0.500%
90	Societe Generale Sa	-	0.490%
91	Citizens Financial Group Inc.	CFG	0.480%
92	Global Atlantic Finance Co.	GBLATL 7.95 06/15/33	0.480%
93	Wells Fargo + Company Jr Subordina 12/99 Var	WFC V3.9 PERP BB	0.480%
94	Athene (Ath) / Apollo Global Management (Apo)	APO	0.480%
95	Royal Bank Of Canada 6.500% Flt 11/24/85	-	0.470%
96	Liberty Mutual Gr V/R 12/15/51	LIBMUT V4.125 12/15/	0.460%
97	Bank Of America Corp Jr Subordina 12/99 Var 6.625 07/24/2025	BAC V6.25 PERP	0.460%
98	Barclays PLC 4.375%	BACR V4.375 PERP	0.450%
99	Ally Finl Inc 4.7%/Var Perp	ALLY V4.7 PERP C	0.440%
100	Axis Capital Holdings Ltd. 4.9 1/15/2040	AXS V4.9 01/15/40	0.440%
101	Wintrust Financial Corp	WTFC	0.440%
102	UBS Group, 4.875% perp., USD	UBS V4.875 PERP 144A	0.430%
103	Canadian Imperial Bank 7.000% Flt 10/28/85	CM V7 10/28/85	0.420%
104	Evergy Inc Subordinated 06/55 Var	EVRG V6.65 06/01/55	0.420%
105	Goldman Sachs Group Inc/The Goldman Sachs Group Inc/The (Pfd) 5.50% 02/10/2173 Perpetual	GS V7.379 PERP Q	0.420%
106	Sempra 5.5 08/01/2033	SRE 5.5 08/01/33	0.420%
107	Corebridge Financial Inc Variable Rate, Due 09/15/2054	CRBG V6.375 09/15/54	0.410%
108	General Motors Financial Co Inc (Pfd) 5.70% 03/30/2172 Perpetual	GM V5.7 PERP C	0.410%
109	Voya Financial Inc.	VOYA	0.410%
110	PartnerRe Ltd.	PRE.J:BM	0.410%
111	Bank Of N Vrn 10/27/85	-	0.410%
112	American Express Company	AXP V3.55 PERP	0.400%
113	Banco Mercantil De Norte Regd V/R /Perp/ 144A P/P 6.62500000	BANORT V6.625 PERP 1	0.400%
114	Dte Energy Company	DTE	0.400%
115	Northwest Natural Holdi Jr Subordina 09/55 Var 7% 09/15/2055	NWN V7 09/15/55	0.400%
116	Texas Capital Bancshares Inc	TCBI	0.400%
117	Xcel Energy, Inc	XEL	0.400%
118	Nisource Inc 6.95% 11/30/2054	NI V6.95 11/30/54	0.390%
119	Pnc Financial Servi V/R /Perp/	PNC V6.2 PERP V	0.390%
120	Bank Nova Scoti 7.35 4/85	BNS V7.35 04/27/85	0.390%
121	Dominion Energy Inc 4.350000% Maturity: Perpetual Callable 01/15/2027 At 100.0000	D V4.35 PERP C	0.380%
122	Fmc Corp V/R 11/01/55	FMC V8.45 11/01/55	0.380%
123	Rogers Communications, Inc.	RCICN V5.25 03/15/82	0.380%
124	Credit Agricole Sa 7.13% Sep 23/35	-	0.370%
125	Dime Community Bancshares Inc	DCOMP.P	0.370%
126	Ing Groep Nv	INTNED V3.875 PERP	0.370%
127	South Bow Canadian Infrastructure Holdings Ltd 0.075 03/01/2055	SOBOCN	0.370%
128	Smb Private Education Loan Trust, Series 2022-D, Class D, 7.23% 10/15/2058	-	0.370%
129	American National Group Inc	AEL.PRA	0.370%
130	Banco Mercantil Del Norte Variable Rate	BANORT	0.370%
131	Bbva Bancomer Sa V/R 09/13/34	BBVASM V5.875 09/13/	0.360%
132	Enstar Finance Ll V/R 01/15/42	ESGR V5.5 01/15/42	0.360%
133	Hsbc Holdings Plc 6 05/22/2027	HSBC V6 PERP *	0.360%
134	M&T Bank Corp	MTB	0.360%
135	M&T Bank Corp 3.500000% Maturity: Perpetual	MTB V3.5 PERP	0.360%
136	Qwest Corp Preferred Stock 06/57 6.75	CTDD	0.360%
137	Tpg Operating Group Ii Lp	TPGXL	0.360%
138	Cvs Health Corp 7% 10Mar2055	CVS V7 03/10/55	0.350%
139	Canadian Imperial Bank Jr Subordina 01/85 Var	CM V6.95 01/28/85	0.350%
140	Adamas Trust, Inc.	ADAML	0.350%
141	Stifel Financial Corporation	SF	0.350%
142	Valley National Bancorp	VLY	0.350%
143	Altagas Ltd V/R 10/15/54	ALACN V7.2 10/15/54	0.350%
144	Sce Trust Viii	EIX 6.95 PERP N	0.340%
145	Spire Inc. 0% 05/31/2056	-	0.340%
146	Entergy Corp Jr Subordina 06/56 Var 06/15/2056	-	0.330%
147	Equitable Holdings Inc	-	0.330%
148	Farm Credit Bk Of Texas Jr Subordina 12/99 Var	FARMCB V7 PERP 6	0.330%
149	Morgan Stanley 5.3% 12/31/2049	MS V0 PERP N	0.330%
150	American Electric Power Jr Subordina 03/56 Var	-	0.330%
151	Sunoco LP 7.88 03/18/2174	-	0.320%
152	Ubs Group Ag 144A 4.375000% Maturity: Perpetual	UBS V4.375 PERP 144A	0.320%
153	Citigroup Inc 3.88% 12/31/2099	C V3.875 PERP X	0.310%
154	Cobank, Acb 6.25 09/30/2173	COBKAC	0.310%
155	ROYAL BANK OF CANADA JR SUBORDINA 08/85 VAR	RY V6.75 08/24/85	0.310%
156	Cadence Bancorp Common Stock	CADE	0.300%
157	Fortegra Group Inc/The 9.25 11/15/2064	-	0.300%
158	Telus Corp V/R 10/15/55	TCN V7 10/15/55	0.300%
159	Bnp Paribas Sa 9.25% Nov 17/27	BNP V9.25 PERP 144A	0.300%
160	Aercap Ireland Cap/Globa Company Guar 01/56 Var	AER V6.5 01/31/56	0.290%
161	Corebridge Financial, Inc. 6.88% Dec 01/30	-	0.290%
162	Edison International 5Y Us Ti + 4.698 12/31/2049	EIX V5.375 PERP A	0.290%
163	Lincoln National Corp.	LNC	0.290%
164	Lincoln National, 9.25% perp., USD	LNC V9.25 PERP C	0.290%
165	Metlife Capital Trust Iv	MET 7.875 12/15/37	0.290%
166	F&G Annuities & Life Inc	FG	0.280%
167	Qwest Corp Preferred Stock 09/56 6.5	CTBB	0.280%
168	Tpg Re Finance Trust Inc	TRTX	0.280%
169	Western Alliance Bancorp Common Stock Usd 0.0001	WAL	0.280%
170	Renaissancere Holdings L /Pfd/	RNR.G	0.270%
171	First Horizon Natl Corp 6.5 Pfd	FHN.PE	0.260%
172	Toronto-Dominion Bank/The	-	0.260%
173	Bank Of Montreal Jr Subordina 11/84 Var %	BMO V7.3 11/26/84	0.260%
174	Barclays Plc 8 12/71	BACR V8 PERP	0.260%
175	Cms Energy Corp V/R 06/01/55	CMS V6.5 06/01/55	0.250%
176	Exelon Corporation 6.5% Mar 15, 2055	EXC V6.5 03/15/55	0.250%
177	Universal Insurance Holdings, Inc.	-	0.250%
178	Axis Capital Holdings Ltd	AXS	0.250%
179	Perpetual Bonds	-	0.240%
180	Webster Financial Corp	WBS.PR.G	0.240%
181	Prudential Financial Inc 5.7% 12/14/2036	PRU 5.7 12/14/36 MTN	0.220%
182	Societe Generale 6.75% Perp.	-	0.220%
183	Corporate Bonds	BNP V4.625 PERP 144A	0.220%
184	Bank Of America Corp Jr Subordina 12/49 Var 6.3	BAC V6.3 PERP DD	0.220%
185	Compeer Financial Aca	AGSTAR V4.875 PERP Q	0.210%
186	Huntington Bancshares Regd V/r /perp/ Ser F 5.62500000	HBAN V5.625 PERP F	0.210%
187	Jackson Financial Inc., Pfd.	JXN V8 PERP	0.210%
188	Standard Chartered Plc	-	0.210%
189	Wafd Inc	WAFD	0.210%
190	Huntington Bancshares Incorporated 4.45% Oct 15/27	HBAN V4.45 PERP G	0.200%
191	Pnc Financial Services Jr Subordina 12/99 Var	PNC V3.4 PERP T	0.200%
192	Wells Fargo & Co., Class A, Series L, Conv. Pfd.	WFC.PRL	0.200%
193	Bank Of New York Mellon C 5.95 12/19/2173	-	0.200%
194	Assurant, Inc.	AIZN	0.190%
195	Capital One Financial Corporation Depositary Shs Repr 1/40Th 5% Non-Cum Red Perp Pfd Registered Shs	COF.PR.I	0.190%
196	Natwest Group Pl	NWG V4.6 PERP .*.	0.190%
197	Natwest Group Plc 1Y Us Ti + 2.55 05/22/2028	NWG V3.073 05/22/28	0.170%
198	Banco Mercantil Del Norte, S.a.	BANORT V7.5 PERP 144	0.170%
199	CNO Financial Group Inc	CNO.P	0.160%
200	Land O' Lakes Inc 144a 7.250000% Maturity: Perpetual	LLAKES 7.25 PERP 144	0.160%
201	Citigroup, Inc. Pref	C V4 PERP W	0.150%
202	Arch Capital Group Ltd 5.45%	ACGLO	0.150%
203	American Electric Power Co. Inc. 5Y Us Ti + 2.675 02/15/2062	AEP V3.875 02/15/62	0.140%
204	Carlyle Finance LLC	CGABL	0.140%
205	Fulton Financial Corp	FULTP.P	0.110%
206	Vistra Corp Regd V/R /Perp/ 144A P/P 7.00000000	VST V7 PERP 144A	0.100%
207	Arbor Rlty Tr Inc 6.375 Cum Pfd	ABR.PD	0.070%
208	Annaly Capital Mgmt Ser F	NLY.F	0.060%
209	Lehman Bros Hldg-Escrow	-	0.000%
210	Drb5588838.Srdup 28.86 2030-07-02	-	0.000%
211	Morgan Stanley 5.192% 4/17/2031 (Usd-Sofr + 1.51% On 4/17/2030)	-	0.000%