{"entity_type":"fund","name":"Fidelity Preferred Securities and Income ETF","identifiers":{"lei":"549300ECXORNOGQYEX95","cik":"945908","fund_id":"S000072125","fundkey":"fidelity-preferred-securities-and-income-etf"},"dates":{"reporting_period_start":"2025-11-30","reporting_period_end":"2026-08-31","filing_date":"2026-01-23"},"summary":{"total_positions":331,"total_value_usd":72729780.24,"asset_categories":["DBT","EP","STIV"],"by_asset_category":{"EP":{"positions":251,"total_value_usd":53662904.76},"DBT":{"positions":79,"total_value_usd":17027276.77},"STIV":{"positions":1,"total_value_usd":2039598.71}}},"holdings":[{"issuer_name":"ENERGY TRANSFER LP","title":"ENERGY TRANSFER LP 6.625%/VAR PERP","isin":"US29273VAJ98","value_usd":2805182.8,"pct_val":3.786602032171,"balance":2800000,"units":"PA","currency":"USD","asset_cat":"EP","issuer_cat":"CORP","inv_country":"US","fair_val_level":"2","payoff_profile":"Long"},{"issuer_name":"BANK NEW YORK MELLON CORP","title":"BANK NEW YORK MELLON CORP 3.7%/VAR PERP","isin":"US064058AJ97","value_usd":2042043.02,"pct_val":2.756470718883,"balance":2055000,"units":"PA","currency":"USD","asset_cat":"EP","issuer_cat":"CORP","inv_country":"US","fair_val_level":"2","payoff_profile":"Long"},{"issuer_name":"Fidelity Revere Street Trust","title":"Fidelity Cash Central Fund","isin":"US31635A1051","value_usd":2039598.71,"pct_val":2.753171244348,"balance":2039190.871,"units":"NS","currency":"USD","asset_cat":"STIV","issuer_cat":"RF","inv_country":"US","fair_val_level":"1","payoff_profile":"Long"},{"issuer_name":"ENBRIDGE INC","title":"ENBRIDGE INC 8.5%/VAR 01/15/2084","isin":"US29250NBT19","value_usd":1806951.83,"pct_val":2.439130694625,"balance":1575000,"units":"PA","currency":"USD","asset_cat":"DBT","issuer_cat":"CORP","inv_country":"CA","fair_val_level":"2","payoff_profile":"Long"},{"issuer_name":"SOUTHERN COMPANY","title":"SOUTHERN COMPANY 4.2% PFD 10/15/2060","isin":"US8425878837","value_usd":1181501.75,"pct_val":1.594861100518,"balance":66098,"units":"NS","currency":"USD","asset_cat":"EP","issuer_cat":"CORP","inv_country":"US","fair_val_level":"1","payoff_profile":"Long"},{"issuer_name":"GOLDMAN SACHS GROUP INC (THE)","title":"GOLDMAN SACHS GROUP INC (THE) 4.125%/VAR PERP","isin":"US38141GYU20","value_usd":1089801.1,"pct_val":1.471078127216,"balance":1109000,"units":"PA","currency":"USD","asset_cat":"EP","issuer_cat":"CORP","inv_country":"US","fair_val_level":"2","payoff_profile":"Long"},{"issuer_name":"MORGAN STANLEY","title":"MORGAN STANLEY 6.5% PFD PERP","isin":"US61762V8533","value_usd":1036580.99,"pct_val":1.399238467897,"balance":40100,"units":"NS","currency":"USD","asset_cat":"EP","issuer_cat":"CORP","inv_country":"US","fair_val_level":"1","payoff_profile":"Long"},{"issuer_name":"JPMORGAN CHASE and CO","title":"JPMORGAN CHASE and CO FRN TSFR3M+274.5 PERP","isin":"US48128BAH42","value_usd":1005000,"pct_val":1.356608575502,"balance":1005000,"units":"PA","currency":"USD","asset_cat":"EP","issuer_cat":"CORP","inv_country":"US","fair_val_level":"2","payoff_profile":"Long"},{"issuer_name":"US BANCORP DEL","title":"US BANCORP DEL 3.7%/VAR PERP","isin":"US902973BC96","value_usd":791197.03,"pct_val":1.068004652547,"balance":815000,"units":"PA","currency":"USD","asset_cat":"EP","issuer_cat":"CORP","inv_country":"US","fair_val_level":"2","payoff_profile":"Long"},{"issuer_name":"SCHWAB CHARLES CORP","title":"SCHWAB CHARLES CORP 4%/VAR PERP","isin":"US808513BJ38","value_usd":774575.02,"pct_val":1.045567278111,"balance":831000,"units":"PA","currency":"USD","asset_cat":"EP","issuer_cat":"CORP","inv_country":"US","fair_val_level":"2","payoff_profile":"Long"},{"issuer_name":"SUNOCO LP","title":"SUNOCO LP 7.875%/VAR PERP 144A","isin":"US86765KAE91","value_usd":768212.5,"pct_val":1.036978771451,"balance":755000,"units":"PA","currency":"USD","asset_cat":"EP","issuer_cat":"CORP","inv_country":"US","fair_val_level":"2","payoff_profile":"Long"},{"issuer_name":"MORGAN STANLEY","title":"MORGAN STANLEY 5.85% PFD PERP","isin":"US61762V6065","value_usd":759518,"pct_val":1.025242419948,"balance":30700,"units":"NS","currency":"USD","asset_cat":"EP","issuer_cat":"CORP","inv_country":"US","fair_val_level":"1","payoff_profile":"Long"},{"issuer_name":"CITIGROUP INC","title":"CITIGROUP INC T5Y+289 6.875%/VAR PERP","isin":"US17327CBC64","value_usd":752298.96,"pct_val":1.015497731818,"balance":735000,"units":"PA","currency":"USD","asset_cat":"EP","issuer_cat":"CORP","inv_country":"US","fair_val_level":"2","payoff_profile":"Long"},{"issuer_name":"PNC FINANCIAL SERVICES GRP INC","title":"PNC FINANCIAL SERVICES GRP INC 3.4%/VAR PERP","isin":"US693475BC86","value_usd":728299.28,"pct_val":0.983101541075,"balance":750000,"units":"PA","currency":"USD","asset_cat":"EP","issuer_cat":"CORP","inv_country":"US","fair_val_level":"2","payoff_profile":"Long"},{"issuer_name":"GOLDMAN SACHS GROUP INC (THE)","title":"GOLDMAN SACHS GROUP INC (THE) 6.85%/VAR PERP","isin":"US38141GC282","value_usd":705321.84,"pct_val":0.95208523048,"balance":680000,"units":"PA","currency":"USD","asset_cat":"EP","issuer_cat":"CORP","inv_country":"US","fair_val_level":"2","payoff_profile":"Long"},{"issuer_name":"SEMPRA","title":"SEMPRA 4.125%/VAR 04/01/2052","isin":"US816851BM02","value_usd":691529.14,"pct_val":0.933467026402,"balance":710000,"units":"PA","currency":"USD","asset_cat":"DBT","issuer_cat":"CORP","inv_country":"US","fair_val_level":"2","payoff_profile":"Long"},{"issuer_name":"DTE ENERGY CO","title":"DTE ENERGY CO 6.25% SER H PFD 10/01/85","isin":"US2333317921","value_usd":657763,"pct_val":0.887887489003,"balance":26300,"units":"NS","currency":"USD","asset_cat":"EP","issuer_cat":"CORP","inv_country":"US","fair_val_level":"1","payoff_profile":"Long"},{"issuer_name":"ALLY FINANCIAL INC","title":"ALLY FINL INC 4.7%/VAR PERP","isin":"US02005NBN93","value_usd":631943.12,"pct_val":0.853034284399,"balance":685000,"units":"PA","currency":"USD","asset_cat":"EP","issuer_cat":"CORP","inv_country":"US","fair_val_level":"2","payoff_profile":"Long"},{"issuer_name":"JPMORGAN CHASE and CO","title":"JPMORGAN CHASE and CO 5.75% PFD PERP","isin":"US48128B6552","value_usd":614228.29,"pct_val":0.829121756746,"balance":24481,"units":"NS","currency":"USD","asset_cat":"EP","issuer_cat":"CORP","inv_country":"US","fair_val_level":"1","payoff_profile":"Long"},{"issuer_name":"BANK OF AMERICA CORPORATION","title":"BANK OF AMERICA CORPORATION 6.25%/VAR PERP","isin":"US06055HAK95","value_usd":590533.21,"pct_val":0.797136733139,"balance":584000,"units":"PA","currency":"USD","asset_cat":"EP","issuer_cat":"CORP","inv_country":"US","fair_val_level":"2","payoff_profile":"Long"},{"issuer_name":"T-MOBILE USA INC","title":"T-MOBILE USA INC PFD 6.25% 09/01/2069","isin":"US87264A1051","value_usd":564322,"pct_val":0.761755288104,"balance":22700,"units":"NS","currency":"USD","asset_cat":"EP","issuer_cat":"CORP","inv_country":"US","fair_val_level":"1","payoff_profile":"Long"},{"issuer_name":"WELLS FARGO and CO","title":"WELLS FARGO and CO NEW 3.9%/VAR PERP","isin":"US949746TD35","value_usd":553425.89,"pct_val":0.747047072914,"balance":556000,"units":"PA","currency":"USD","asset_cat":"EP","issuer_cat":"CORP","inv_country":"US","fair_val_level":"2","payoff_profile":"Long"},{"issuer_name":"CAPITAL ONE FINANCIAL CORP","title":"CAPITAL ONE FINANCIAL CORP 3.95%/VAR PERP","isin":"US14040HCF01","value_usd":551908.17,"pct_val":0.744998364489,"balance":560000,"units":"PA","currency":"USD","asset_cat":"EP","issuer_cat":"CORP","inv_country":"US","fair_val_level":"2","payoff_profile":"Long"},{"issuer_name":"VENTURE GLOBAL LNG INC","title":"VENTURE GLOBAL LNG INC 9%/VAR PERP 144A","isin":"US92332YAF88","value_usd":544822.03,"pct_val":0.735433072657,"balance":640000,"units":"PA","currency":"USD","asset_cat":"EP","issuer_cat":"CORP","inv_country":"US","fair_val_level":"2","payoff_profile":"Long"},{"issuer_name":"SOUTHERN COMPANY","title":"SOUTHERN CO SER A 6.5% 03/15/2085 PFD","isin":"US8425878670","value_usd":525364,"pct_val":0.709167470308,"balance":20300,"units":"NS","currency":"USD","asset_cat":"EP","issuer_cat":"CORP","inv_country":"US","fair_val_level":"1","payoff_profile":"Long"},{"issuer_name":"BP CAPITAL MARKETS PLC","title":"BP CAPITAL MARKETS PLC 4.875%/VAR PERP","isin":"US05565QDV77","value_usd":523320.89,"pct_val":0.706409559317,"balance":525000,"units":"PA","currency":"USD","asset_cat":"EP","issuer_cat":"CORP","inv_country":"GB","fair_val_level":"2","payoff_profile":"Long"},{"issuer_name":"DUKE ENERGY CORP NEW","title":"DUKE ENERGY CORP 5.625% PFD 09/15/2078","isin":"US26441C4024","value_usd":520410,"pct_val":0.70248026744,"balance":20900,"units":"NS","currency":"USD","asset_cat":"EP","issuer_cat":"CORP","inv_country":"US","fair_val_level":"1","payoff_profile":"Long"},{"issuer_name":"DOMINION ENERGY INC","title":"DOMINION ENERGY INC 6.625%/VAR 05/15/2055","isin":"US25746UDV89","value_usd":517457.5,"pct_val":0.698494807918,"balance":500000,"units":"PA","currency":"USD","asset_cat":"DBT","issuer_cat":"CORP","inv_country":"US","fair_val_level":"2","payoff_profile":"Long"},{"issuer_name":"ROGERS COMMUNICATIONS INC","title":"ROGERS COMMUNICATIONS INC 5.25%/VAR 03/15/2082 144A","isin":"US775109BS95","value_usd":507176.03,"pct_val":0.684616270236,"balance":510000,"units":"PA","currency":"USD","asset_cat":"DBT","issuer_cat":"CORP","inv_country":"CA","fair_val_level":"2","payoff_profile":"Long"},{"issuer_name":"GOLDMAN SACHS GROUP INC (THE)","title":"GOLDMAN SACHS GROUP INC (THE) 6.125%/VAR PERP","isin":"US38141GB524","value_usd":491475.84,"pct_val":0.663423223081,"balance":480000,"units":"PA","currency":"USD","asset_cat":"EP","issuer_cat":"CORP","inv_country":"US","fair_val_level":"2","payoff_profile":"Long"},{"issuer_name":"VISTRA CORP","title":"VISTRA CORP 7%/VAR PERP 144A","isin":"US92840MAC64","value_usd":476625.59,"pct_val":0.643377475321,"balance":470000,"units":"PA","currency":"USD","asset_cat":"EP","issuer_cat":"CORP","inv_country":"US","fair_val_level":"2","payoff_profile":"Long"},{"issuer_name":"AT and T INC","title":"AT and T INC SER C 4.75% PFD PERP","isin":"US00206R7061","value_usd":453383,"pct_val":0.612003249539,"balance":23900,"units":"NS","currency":"USD","asset_cat":"EP","issuer_cat":"CORP","inv_country":"US","fair_val_level":"1","payoff_profile":"Long"},{"issuer_name":"JPMORGAN CHASE and CO","title":"JPMORGAN CHASE and CO 4.55% PERP PFD","isin":"US48128B5802","value_usd":446321,"pct_val":0.60247054331,"balance":22900,"units":"NS","currency":"USD","asset_cat":"EP","issuer_cat":"CORP","inv_country":"US","fair_val_level":"1","payoff_profile":"Long"},{"issuer_name":"CVS HEALTH CORP","title":"CVS HEALTH CORP 6.75%/VAR 12/10/2054","isin":"US126650EG12","value_usd":444588.57,"pct_val":0.600132006599,"balance":429000,"units":"PA","currency":"USD","asset_cat":"DBT","issuer_cat":"CORP","inv_country":"US","fair_val_level":"2","payoff_profile":"Long"},{"issuer_name":"BANK OF AMERICA CORPORATION","title":"BANK OF AMERICA CORPORATION 6.125%/VAR PERP","isin":"US06055HAB96","value_usd":444193.64,"pct_val":0.599598906674,"balance":440000,"units":"PA","currency":"USD","asset_cat":"EP","issuer_cat":"CORP","inv_country":"US","fair_val_level":"2","payoff_profile":"Long"},{"issuer_name":"MORGAN STANLEY","title":"MORGAN STANLEY 5.875%/VAR PERP","isin":"US61762VAA98","value_usd":437489.07,"pct_val":0.590548680647,"balance":435000,"units":"PA","currency":"USD","asset_cat":"EP","issuer_cat":"CORP","inv_country":"US","fair_val_level":"2","payoff_profile":"Long"},{"issuer_name":"NIPPON LIFE INS CO","title":"NIPPON LIFE INS CO 6.5%/VAR 04/30/2055 144A","isin":"US654579AP63","value_usd":429501.6,"pct_val":0.579766720151,"balance":400000,"units":"PA","currency":"USD","asset_cat":"DBT","issuer_cat":"CORP","inv_country":"JP","fair_val_level":"2","payoff_profile":"Long"},{"issuer_name":"VODAFONE GRP PLC","title":"VODAFONE GROUP PLC USSW5+NA 04/04/2079","isin":"US92857WBQ24","value_usd":419217.2,"pct_val":0.565884227381,"balance":400000,"units":"PA","currency":"USD","asset_cat":"DBT","issuer_cat":"CORP","inv_country":"GB","fair_val_level":"2","payoff_profile":"Long"},{"issuer_name":"ACRISURE LLC / ACRISURE FINANCE INC","title":"ACRISURE LLC / ACRISURE FINANCE INC 6% 08/01/2029 144A","isin":"US00489LAH69","value_usd":412497.8,"pct_val":0.556813982941,"balance":420000,"units":"PA","currency":"USD","asset_cat":"DBT","issuer_cat":"CORP","inv_country":"US","fair_val_level":"2","payoff_profile":"Long"},{"issuer_name":"TRUIST FINANCIAL CORP","title":"TRUIST FINANCIAL CORP 5.1%/VAR PERP","isin":"US89832QAF63","value_usd":404273.88,"pct_val":0.545712848218,"balance":403000,"units":"PA","currency":"USD","asset_cat":"EP","issuer_cat":"CORP","inv_country":"US","fair_val_level":"2","payoff_profile":"Long"},{"issuer_name":"T-MOBILE USA INC","title":"T-MOBILE USA INC PFD 5.5% 03/01/2070","isin":"US87264A2042","value_usd":403090,"pct_val":0.544114776815,"balance":17300,"units":"NS","currency":"USD","asset_cat":"EP","issuer_cat":"CORP","inv_country":"US","fair_val_level":"1","payoff_profile":"Long"},{"issuer_name":"WELLS FARGO and CO","title":"WELLSFARGO CL A SERIES Z 4.75% PFD PERP","isin":"US94988U1512","value_usd":400608,"pct_val":0.540764426084,"balance":20800,"units":"NS","currency":"USD","asset_cat":"EP","issuer_cat":"CORP","inv_country":"US","fair_val_level":"1","payoff_profile":"Long"},{"issuer_name":"CITIGROUP INC","title":"CITIGROUP INC 3.875%/VAR PERP","isin":"US172967MV07","value_usd":398414,"pct_val":0.537802834826,"balance":400000,"units":"PA","currency":"USD","asset_cat":"EP","issuer_cat":"CORP","inv_country":"US","fair_val_level":"2","payoff_profile":"Long"},{"issuer_name":"SOUTHERN COMPANY","title":"SOUTHERN COMPANY 3.75%/VAR 09/15/2051","isin":"US842587DJ36","value_usd":394777.28,"pct_val":0.532893774588,"balance":400000,"units":"PA","currency":"USD","asset_cat":"DBT","issuer_cat":"CORP","inv_country":"US","fair_val_level":"2","payoff_profile":"Long"},{"issuer_name":"XCEL ENERGY INC","title":"XCEL ENERGY INC 6.25% PFD 10/15/2085","isin":"US98389B8789","value_usd":392657,"pct_val":0.530031694956,"balance":15700,"units":"NS","currency":"USD","asset_cat":"EP","issuer_cat":"CORP","inv_country":"US","fair_val_level":"1","payoff_profile":"Long"},{"issuer_name":"AT and T INC","title":"AT and T INC 5.35% 11/01/66 PRFD","isin":"US00206R3003","value_usd":390590.64,"pct_val":0.527242399736,"balance":17406,"units":"NS","currency":"USD","asset_cat":"EP","issuer_cat":"CORP","inv_country":"US","fair_val_level":"1","payoff_profile":"Long"},{"issuer_name":"MORGAN STANLEY","title":"MORGAN STANLEY 6.625% PFD PERP Q","isin":"US61762V8384","value_usd":381640,"pct_val":0.515160295278,"balance":14500,"units":"NS","currency":"USD","asset_cat":"EP","issuer_cat":"CORP","inv_country":"US","fair_val_level":"1","payoff_profile":"Long"},{"issuer_name":"CMS ENERGY CORP","title":"CMS ENERGY CORP T5Y+NA 12/01/2050","isin":"US125896BV12","value_usd":376365.85,"pct_val":0.508040934961,"balance":409000,"units":"PA","currency":"USD","asset_cat":"DBT","issuer_cat":"CORP","inv_country":"US","fair_val_level":"2","payoff_profile":"Long"},{"issuer_name":"AT and T INC","title":"AT and T INC 5.125% PERP PFD","isin":"US00206R5081","value_usd":375812,"pct_val":0.507293315399,"balance":18800,"units":"NS","currency":"USD","asset_cat":"EP","issuer_cat":"CORP","inv_country":"US","fair_val_level":"1","payoff_profile":"Long"},{"issuer_name":"BANK OF AMERICA CORPORATION","title":"BANK OF AMERICA CORPORATION SER HH 5.875% PFD PERP","isin":"US0605051954","value_usd":362956,"pct_val":0.489939524507,"balance":14600,"units":"NS","currency":"USD","asset_cat":"EP","issuer_cat":"CORP","inv_country":"US","fair_val_level":"1","payoff_profile":"Long"},{"issuer_name":"BP CAPITAL MARKETS PLC","title":"BP CAPITAL MARKETS PLC 6.45%/VAR PERP","isin":"US05565QDW50","value_usd":356075.19,"pct_val":0.480651399281,"balance":335000,"units":"PA","currency":"USD","asset_cat":"EP","issuer_cat":"CORP","inv_country":"GB","fair_val_level":"2","payoff_profile":"Long"},{"issuer_name":"BANK OF AMERICA CORPORATION","title":"BANK OF AMERICA CORPORATION 4.375%/VAR PERP","isin":"US060505GB47","value_usd":345082.47,"pct_val":0.465812774186,"balance":350000,"units":"PA","currency":"USD","asset_cat":"EP","issuer_cat":"CORP","inv_country":"US","fair_val_level":"2","payoff_profile":"Long"},{"issuer_name":"BANK OF AMERICA CORPORATION","title":"BANK OF AMERICA CORPORATION 5.875%/VAR PERP","isin":"US060505FL38","value_usd":343095.36,"pct_val":0.463130455314,"balance":340000,"units":"PA","currency":"USD","asset_cat":"EP","issuer_cat":"CORP","inv_country":"US","fair_val_level":"2","payoff_profile":"Long"},{"issuer_name":"METLIFE INC","title":"METLIFE INC 6.4%/VAR 12/15/2066","isin":"US59156RAP38","value_usd":335201.05,"pct_val":0.452474247708,"balance":319000,"units":"PA","currency":"USD","asset_cat":"DBT","issuer_cat":"CORP","inv_country":"US","fair_val_level":"2","payoff_profile":"Long"},{"issuer_name":"T-MOBILE USA INC","title":"T-MOBILE USA INC PFD 5.5% 06/01/2070","isin":"US87264A3032","value_usd":334095.05,"pct_val":0.450981303346,"balance":14345,"units":"NS","currency":"USD","asset_cat":"EP","issuer_cat":"CORP","inv_country":"US","fair_val_level":"1","payoff_profile":"Long"},{"issuer_name":"ATHENE HOLDING LTD","title":"ATHENE HOLDINGS 7.25%/VAR PFD 03/30/2064","isin":"US04686J8383","value_usd":330120,"pct_val":0.445615545218,"balance":13100,"units":"NS","currency":"USD","asset_cat":"EP","issuer_cat":"CORP","inv_country":"US","fair_val_level":"1","payoff_profile":"Long"},{"issuer_name":"TRANSCANADA TRUST","title":"TRANSCANADA TRUST 5.6%/VAR 03/07/2082","isin":"US89356BAG32","value_usd":329842.07,"pct_val":0.445240378829,"balance":335000,"units":"PA","currency":"USD","asset_cat":"DBT","issuer_cat":"CORP","inv_country":"CA","fair_val_level":"2","payoff_profile":"Long"},{"issuer_name":"PUBLIC STORAGE","title":"PUBLIC STORAGE 4% PERP PFD","isin":"US74460W4612","value_usd":324200,"pct_val":0.437624378286,"balance":20000,"units":"NS","currency":"USD","asset_cat":"EP","issuer_cat":"CORP","inv_country":"US","fair_val_level":"1","payoff_profile":"Long"},{"issuer_name":"CAPITAL ONE FINANCIAL CORP","title":"CAPITAL ONE FINANCIAL CORP 5.5%/VAR PERP","isin":"US14040HDK86","value_usd":315362.57,"pct_val":0.425695091397,"balance":315000,"units":"PA","currency":"USD","asset_cat":"EP","issuer_cat":"CORP","inv_country":"US","fair_val_level":"2","payoff_profile":"Long"},{"issuer_name":"DOMINION ENERGY INC","title":"DOMINION ENERGY INC 6%/VAR 02/15/2056","isin":"US25746UDZ93","value_usd":310616.66,"pct_val":0.419288780746,"balance":307000,"units":"PA","currency":"USD","asset_cat":"DBT","issuer_cat":"CORP","inv_country":"US","fair_val_level":"2","payoff_profile":"Long"},{"issuer_name":"RAKUTEN GROUP INC","title":"RAKUTEN GROUP INC 8.125%/VAR PERP 144A","isin":"US75102WAM01","value_usd":308247.32,"pct_val":0.416090505161,"balance":300000,"units":"PA","currency":"USD","asset_cat":"EP","issuer_cat":"CORP","inv_country":"JP","fair_val_level":"2","payoff_profile":"Long"},{"issuer_name":"MEIJI YASUDA LIFE INSURANCE CO","title":"MEIJI YASUDA LIFE INSURANCE CO 6.1%/VAR 06/11/2055 144A","isin":"US585270AE15","value_usd":301300.72,"pct_val":0.406713572693,"balance":290000,"units":"PA","currency":"USD","asset_cat":"DBT","issuer_cat":"CORP","inv_country":"JP","fair_val_level":"2","payoff_profile":"Long"},{"issuer_name":"AIR LEASE CORP","title":"AIR LEASE CORP 4.65%/VAR PERP","isin":"US00912XBJ28","value_usd":296982.93,"pct_val":0.400885163796,"balance":300000,"units":"PA","currency":"USD","asset_cat":"EP","issuer_cat":"CORP","inv_country":"US","fair_val_level":"2","payoff_profile":"Long"},{"issuer_name":"WELLS FARGO and CO","title":"WELLS FARGO and CO NEW SER Y 5.625% PFD","isin":"US94988U6560","value_usd":292813.92,"pct_val":0.395257586963,"balance":12226,"units":"NS","currency":"USD","asset_cat":"EP","issuer_cat":"CORP","inv_country":"US","fair_val_level":"1","payoff_profile":"Long"},{"issuer_name":"CITIGROUP INC","title":"CITIGROUP INC 7%/VAR PERP","isin":"US172967PM70","value_usd":286692.48,"pct_val":0.386994504378,"balance":270000,"units":"PA","currency":"USD","asset_cat":"EP","issuer_cat":"CORP","inv_country":"US","fair_val_level":"2","payoff_profile":"Long"},{"issuer_name":"PLAINS ALL AMERN PIPELINE LP","title":"PLAINS ALL AMERN PIPELINE LP TSFR3M+437.161 PERP","isin":"US726503AE55","value_usd":284838.63,"pct_val":0.384492067753,"balance":285000,"units":"PA","currency":"USD","asset_cat":"EP","issuer_cat":"CORP","inv_country":"US","fair_val_level":"2","payoff_profile":"Long"},{"issuer_name":"CITIGROUP INC","title":"CITIGROUP INC 4%/VAR PERP","isin":"US172967MU24","value_usd":284679.38,"pct_val":0.384277102663,"balance":285000,"units":"PA","currency":"USD","asset_cat":"EP","issuer_cat":"CORP","inv_country":"US","fair_val_level":"2","payoff_profile":"Long"},{"issuer_name":"BP CAPITAL MARKETS PLC","title":"BP CAPITAL MARKETS PLC 6.125%/VAR PERP","isin":"US05565QDX34","value_usd":283613.28,"pct_val":0.382838017686,"balance":275000,"units":"PA","currency":"USD","asset_cat":"EP","issuer_cat":"CORP","inv_country":"GB","fair_val_level":"2","payoff_profile":"Long"},{"issuer_name":"CITIGROUP INC","title":"CITIGROUP INC 6.95%/VAR PERP","isin":"US17327CAV54","value_usd":281498.25,"pct_val":0.379983024814,"balance":275000,"units":"PA","currency":"USD","asset_cat":"EP","issuer_cat":"CORP","inv_country":"US","fair_val_level":"2","payoff_profile":"Long"},{"issuer_name":"PG and E CORP","title":"PG and E CORP 7.375%/VAR 03/15/2055","isin":"US69331CAM01","value_usd":280174.43,"pct_val":0.378196054104,"balance":271000,"units":"PA","currency":"USD","asset_cat":"DBT","issuer_cat":"CORP","inv_country":"US","fair_val_level":"2","payoff_profile":"Long"},{"issuer_name":"JPMORGAN CHASE and CO","title":"JPMORGAN CHASE and CO SER MM 4.2% PFD PERP","isin":"US48128B5232","value_usd":276028,"pct_val":0.372598957093,"balance":15100,"units":"NS","currency":"USD","asset_cat":"EP","issuer_cat":"CORP","inv_country":"US","fair_val_level":"1","payoff_profile":"Long"},{"issuer_name":"NEXTERA ENERGY CAP HLDGS INC","title":"NEXTERA ENERGY CAP HLDGS INC 6.375%/VAR 08/15/2055","isin":"US65339KDE73","value_usd":272974.8,"pct_val":0.368477566742,"balance":263000,"units":"PA","currency":"USD","asset_cat":"DBT","issuer_cat":"CORP","inv_country":"US","fair_val_level":"2","payoff_profile":"Long"},{"issuer_name":"DAI-ICHI LIFE INSURANCE CO LTD","title":"DAI-ICHI LIFE INSURANCE CO LTD 6.2%/VAR PERP 144A","isin":"US23381LAA26","value_usd":272124.32,"pct_val":0.367329538422,"balance":260000,"units":"PA","currency":"USD","asset_cat":"EP","issuer_cat":"CORP","inv_country":"JP","fair_val_level":"2","payoff_profile":"Long"},{"issuer_name":"NIPPON LIFE INS CO","title":"NIPPON LIFE INS CO 5.95%/VAR 04/16/2054 144A","isin":"US654579AN16","value_usd":271451.53,"pct_val":0.366421366598,"balance":260000,"units":"PA","currency":"USD","asset_cat":"DBT","issuer_cat":"CORP","inv_country":"JP","fair_val_level":"2","payoff_profile":"Long"},{"issuer_name":"DIGITAL REALTY TRUST INC","title":"DIGITAL RLTY TR INC SER L 5.2% PERP PFD","isin":"US2538688225","value_usd":267750,"pct_val":0.36142482198,"balance":12600,"units":"NS","currency":"USD","asset_cat":"EP","issuer_cat":"CORP","inv_country":"US","fair_val_level":"1","payoff_profile":"Long"},{"issuer_name":"SUMITOMO LIFE INS CO","title":"SUMITOMO LIFE INS CO 4%/VAR 09/14/2077 144A","isin":"US86564CAB63","value_usd":267516.3,"pct_val":0.361109359867,"balance":270000,"units":"PA","currency":"USD","asset_cat":"DBT","issuer_cat":"CORP","inv_country":"JP","fair_val_level":"2","payoff_profile":"Long"},{"issuer_name":"PRUDENTIAL FINL INC","title":"PRUDENTIAL FINL INC T5Y+NA 03/01/2053","isin":"US744320BL59","value_usd":266024.5,"pct_val":0.359095639794,"balance":250000,"units":"PA","currency":"USD","asset_cat":"DBT","issuer_cat":"CORP","inv_country":"US","fair_val_level":"2","payoff_profile":"Long"},{"issuer_name":"JPMORGAN CHASE and CO","title":"JPMORGAN CHASE and CO 6.5%/VAR PERP","isin":"US48128AAJ25","value_usd":263368.08,"pct_val":0.355509846608,"balance":255000,"units":"PA","currency":"USD","asset_cat":"EP","issuer_cat":"CORP","inv_country":"US","fair_val_level":"2","payoff_profile":"Long"},{"issuer_name":"STATE STREET CORP","title":"STATE STREET CORP 6.7%/VAR PERP","isin":"US857477CH48","value_usd":259461.75,"pct_val":0.35023685081,"balance":250000,"units":"PA","currency":"USD","asset_cat":"EP","issuer_cat":"CORP","inv_country":"US","fair_val_level":"2","payoff_profile":"Long"},{"issuer_name":"JPMORGAN CHASE and CO","title":"JP MORGAN CHASE 4.75% PFD PERP","isin":"US48128B6222","value_usd":254000,"pct_val":0.342864256893,"balance":12500,"units":"NS","currency":"USD","asset_cat":"EP","issuer_cat":"CORP","inv_country":"US","fair_val_level":"1","payoff_profile":"Long"},{"issuer_name":"AIR LEASE CORP","title":"AIR LEASE CORP 4.125%/VAR PERP","isin":"US00912XBK90","value_usd":252721.37,"pct_val":0.341138286323,"balance":261000,"units":"PA","currency":"USD","asset_cat":"EP","issuer_cat":"CORP","inv_country":"US","fair_val_level":"2","payoff_profile":"Long"},{"issuer_name":"GENERAL MTRS FINL CO INC","title":"GENERAL MTRS FINL CO INC 5.7%/VAR PERP","isin":"US37045XDB91","value_usd":252049.64,"pct_val":0.340231545349,"balance":252000,"units":"PA","currency":"USD","asset_cat":"EP","issuer_cat":"CORP","inv_country":"US","fair_val_level":"2","payoff_profile":"Long"},{"issuer_name":"JPMORGAN CHASE and CO","title":"JPMORGAN CHASE and CO 4.625% PERP PFD","isin":"US48128B5497","value_usd":239943,"pct_val":0.323889285006,"balance":12100,"units":"NS","currency":"USD","asset_cat":"EP","issuer_cat":"CORP","inv_country":"US","fair_val_level":"1","payoff_profile":"Long"},{"issuer_name":"NEXTERA ENERGY CAP HLDGS INC","title":"NEXTERA ENERGY CAP HLDGS INC 5.65%/VAR 05/01/2079","isin":"US65339KBK51","value_usd":236822.27,"pct_val":0.319676738658,"balance":234000,"units":"PA","currency":"USD","asset_cat":"DBT","issuer_cat":"CORP","inv_country":"US","fair_val_level":"2","payoff_profile":"Long"},{"issuer_name":"ELECTRICITE DE FRANCE","title":"ELECTRICITE DE FRANCE T5Y+NA PERP 144A","isin":"US28504KAA51","value_usd":231401.4,"pct_val":0.312359326988,"balance":200000,"units":"PA","currency":"USD","asset_cat":"EP","issuer_cat":"CORP","inv_country":"FR","fair_val_level":"2","payoff_profile":"Long"},{"issuer_name":"CITIGROUP INC","title":"CITIGROUP INC 6.25%/VAR PERP","isin":"US172967KM26","value_usd":231365.74,"pct_val":0.312311191006,"balance":230000,"units":"PA","currency":"USD","asset_cat":"EP","issuer_cat":"CORP","inv_country":"US","fair_val_level":"2","payoff_profile":"Long"},{"issuer_name":"CITIGROUP INC","title":"CITIGROUP INC 7.625%/VAR PERP","isin":"US172967PE54","value_usd":229947.96,"pct_val":0.310397387517,"balance":220000,"units":"PA","currency":"USD","asset_cat":"EP","issuer_cat":"CORP","inv_country":"US","fair_val_level":"2","payoff_profile":"Long"},{"issuer_name":"HUNTINGTON BANCSHARES INC/OH","title":"HUNTINGTON BANCSHARES INC/OH 5.625%/VAR PERP","isin":"US446150AT18","value_usd":229572.38,"pct_val":0.309890407369,"balance":226000,"units":"PA","currency":"USD","asset_cat":"EP","issuer_cat":"CORP","inv_country":"US","fair_val_level":"2","payoff_profile":"Long"},{"issuer_name":"STIFEL FINANCIAL CORP","title":"STIFEL FINANCIAL CORP SER D 4.5% PERP PFD","isin":"US8606308620","value_usd":228540,"pct_val":0.308496839647,"balance":13000,"units":"NS","currency":"USD","asset_cat":"EP","issuer_cat":"CORP","inv_country":"US","fair_val_level":"1","payoff_profile":"Long"},{"issuer_name":"BANK NEW YORK MELLON CORP","title":"BANK NEW YORK MELLON CORP 5.95%/VAR PERP","isin":"US064058AR14","value_usd":227902.28,"pct_val":0.307636007387,"balance":225000,"units":"PA","currency":"USD","asset_cat":"EP","issuer_cat":"CORP","inv_country":"US","fair_val_level":"2","payoff_profile":"Long"},{"issuer_name":"MORGAN STANLEY","title":"MORGAN STANLEY SER O 4.5% PFD PERP","isin":"US61762V8616","value_usd":226048,"pct_val":0.305132990323,"balance":12800,"units":"NS","currency":"USD","asset_cat":"EP","issuer_cat":"CORP","inv_country":"US","fair_val_level":"1","payoff_profile":"Long"},{"issuer_name":"CITIGROUP INC","title":"CITIGROUP INC 7.125%/VAR PERP","isin":"US172967PK15","value_usd":225493.18,"pct_val":0.304384061398,"balance":220000,"units":"PA","currency":"USD","asset_cat":"EP","issuer_cat":"CORP","inv_country":"US","fair_val_level":"2","payoff_profile":"Long"},{"issuer_name":"BANK OF AMERICA CORPORATION","title":"BANK OF AMERICA CORPORATION 4.75% PREF PERP","isin":"US06055H8714","value_usd":224020,"pct_val":0.302395475705,"balance":11500,"units":"NS","currency":"USD","asset_cat":"EP","issuer_cat":"CORP","inv_country":"US","fair_val_level":"1","payoff_profile":"Long"},{"issuer_name":"DOMINION ENERGY INC","title":"DOMINION ENERGY INC 4.35%/VAR PERP","isin":"US25746UDM80","value_usd":222253.85,"pct_val":0.300011421739,"balance":225000,"units":"PA","currency":"USD","asset_cat":"EP","issuer_cat":"CORP","inv_country":"US","fair_val_level":"2","payoff_profile":"Long"},{"issuer_name":"EDISON INTERNATIONAL","title":"EDISON INTERNATIONAL 5%/VAR PERP","isin":"US281020AT41","value_usd":217661.38,"pct_val":0.293812233496,"balance":219000,"units":"PA","currency":"USD","asset_cat":"EP","issuer_cat":"CORP","inv_country":"US","fair_val_level":"2","payoff_profile":"Long"},{"issuer_name":"AMERICAN EXPRESS CO","title":"AMERICAN EXPRESS CO 3.55%/VAR PERP","isin":"US025816CH00","value_usd":213147.77,"pct_val":0.287719495155,"balance":217000,"units":"PA","currency":"USD","asset_cat":"EP","issuer_cat":"CORP","inv_country":"US","fair_val_level":"2","payoff_profile":"Long"},{"issuer_name":"STANDARD CHARTERED PLC","title":"STANDARD CHARTERED PLC 7.625%/VAR PERP 144A","isin":"US853254DF47","value_usd":212472.4,"pct_val":0.286807840694,"balance":200000,"units":"PA","currency":"USD","asset_cat":"EP","issuer_cat":"CORP","inv_country":"GB","fair_val_level":"2","payoff_profile":"Long"},{"issuer_name":"NIPPON LIFE INS CO","title":"NIPPON LIFE INS CO 6.25%/VAR 09/13/2053 144A","isin":"US654579AM33","value_usd":212190.4,"pct_val":0.286427180377,"balance":200000,"units":"PA","currency":"USD","asset_cat":"DBT","issuer_cat":"CORP","inv_country":"JP","fair_val_level":"2","payoff_profile":"Long"},{"issuer_name":"ALLSTATE CORP","title":"ALLSTATE CORP SER H 5.1% PERP PFD","isin":"US0200028381","value_usd":212100,"pct_val":0.286305153098,"balance":10000,"units":"NS","currency":"USD","asset_cat":"EP","issuer_cat":"CORP","inv_country":"US","fair_val_level":"1","payoff_profile":"Long"},{"issuer_name":"BARCLAYS PLC","title":"BARCLAYS PLC 7.625%/VAR PERP","isin":"US06738EDC66","value_usd":211097.8,"pct_val":0.284952324129,"balance":200000,"units":"PA","currency":"USD","asset_cat":"EP","issuer_cat":"CORP","inv_country":"GB","fair_val_level":"2","payoff_profile":"Long"},{"issuer_name":"MUENCHENER RUECKVERSICHERUNGS-GESELLSCHAFT AG IN MUENCHEN","title":"MUNICH RE GROUP 5.875%/VAR 05/23/2042 144A","isin":"US62582PAA84","value_usd":209571.9,"pct_val":0.282892573855,"balance":200000,"units":"PA","currency":"USD","asset_cat":"DBT","issuer_cat":"CORP","inv_country":"DE","fair_val_level":"2","payoff_profile":"Long"},{"issuer_name":"PRUDENTIAL FINL INC","title":"PRUDENTIAL FINL INC T5Y+NA 09/01/2052","isin":"US744320BK76","value_usd":207269.6,"pct_val":0.279784792836,"balance":200000,"units":"PA","currency":"USD","asset_cat":"DBT","issuer_cat":"CORP","inv_country":"US","fair_val_level":"2","payoff_profile":"Long"},{"issuer_name":"ALTAGAS LTD","title":"ALTAGAS LTD 7.2%/VAR 10/15/2054 144A","isin":"US021361AD20","value_usd":206919.8,"pct_val":0.279312612061,"balance":200000,"units":"PA","currency":"USD","asset_cat":"DBT","issuer_cat":"CORP","inv_country":"CA","fair_val_level":"2","payoff_profile":"Long"},{"issuer_name":"SOUTH BOW CANADIAN INFRASTRUCTURE HOLDINGS LTD","title":"SOUTH BOW CANADIAN INFRASTRUCTURE HOLDINGS LTD 7.5%/VAR 03/01/2055","isin":"US836720AJ13","value_usd":206820.51,"pct_val":0.279178584533,"balance":195000,"units":"PA","currency":"USD","asset_cat":"DBT","issuer_cat":"CORP","inv_country":"CA","fair_val_level":"2","payoff_profile":"Long"},{"issuer_name":"SUMITOMO LIFE INS CO","title":"SUMITOMO LIFE INS CO 3.375%/VAR 04/15/2081 144A","isin":"US86564CAC47","value_usd":206216.93,"pct_val":0.278363836469,"balance":220000,"units":"PA","currency":"USD","asset_cat":"EP","issuer_cat":"CORP","inv_country":"JP","fair_val_level":"2","payoff_profile":"Long"},{"issuer_name":"SUMITOMO LIFE INS CO","title":"SUMITOMO LIFE INS CO 5.875%/VAR PERP 144A","isin":"US86564CAE03","value_usd":204660,"pct_val":0.276262200062,"balance":200000,"units":"PA","currency":"USD","asset_cat":"EP","issuer_cat":"CORP","inv_country":"JP","fair_val_level":"2","payoff_profile":"Long"},{"issuer_name":"PNC FINANCIAL SERVICES GRP INC","title":"PNC FINANCIAL SERVICES GRP INC 6.2%/VAR PERP","isin":"US693475BF18","value_usd":202970.6,"pct_val":0.273981747795,"balance":200000,"units":"PA","currency":"USD","asset_cat":"EP","issuer_cat":"CORP","inv_country":"US","fair_val_level":"2","payoff_profile":"Long"},{"issuer_name":"MEIJI YASUDA LIFE INSURANCE CO","title":"MEIJI YASUDA LIFE INSURANCE CO USISDA05+NA 04/26/2048 144A","isin":"US585270AC58","value_usd":202425.8,"pct_val":0.27324634446,"balance":200000,"units":"PA","currency":"USD","asset_cat":"DBT","issuer_cat":"CORP","inv_country":"JP","fair_val_level":"2","payoff_profile":"Long"},{"issuer_name":"SOUTH BOW CANADIAN INFRASTRUCTURE HOLDINGS LTD","title":"SOUTH BOW CANADIAN INFRASTRUCTURE HOLDINGS LTD 7.625%/VAR 03/01/2055","isin":"US836720AG73","value_usd":202066.22,"pct_val":0.272760962061,"balance":195000,"units":"PA","currency":"USD","asset_cat":"DBT","issuer_cat":"CORP","inv_country":"CA","fair_val_level":"2","payoff_profile":"Long"},{"issuer_name":"CITIGROUP INC","title":"CITIGROUP INC 6.75%/VAR PERP","isin":"US172967PR67","value_usd":201534.9,"pct_val":0.272043754828,"balance":200000,"units":"PA","currency":"USD","asset_cat":"EP","issuer_cat":"CORP","inv_country":"US","fair_val_level":"2","payoff_profile":"Long"},{"issuer_name":"GOLDMAN SACHS GROUP INC (THE)","title":"GOLDMAN SACHS GROUP INC (THE) 4.4%/VAR PERP","isin":"US38144GAC50","value_usd":200500,"pct_val":0.27064678546,"balance":200000,"units":"PA","currency":"USD","asset_cat":"EP","issuer_cat":"CORP","inv_country":"US","fair_val_level":"2","payoff_profile":"Long"},{"issuer_name":"NIPPON LIFE INS CO","title":"NIPPON LIFE INS CO USISDA05+NA 01/20/2046 144A","isin":"US654579AE17","value_usd":199999.48,"pct_val":0.269971153894,"balance":200000,"units":"PA","currency":"USD","asset_cat":"DBT","issuer_cat":"CORP","inv_country":"JP","fair_val_level":"2","payoff_profile":"Long"},{"issuer_name":"DAI-ICHI LIFE INSURANCE CO LTD","title":"DAI-ICHI LIFE INSURANCE CO LTD 4%/VAR PERP 144A","isin":"US23380YAD94","value_usd":199289.36,"pct_val":0.269012591823,"balance":200000,"units":"PA","currency":"USD","asset_cat":"EP","issuer_cat":"CORP","inv_country":"JP","fair_val_level":"2","payoff_profile":"Long"},{"issuer_name":"SCHWAB CHARLES CORP","title":"SCHWAB CHARLES CORP 4%/VAR PERP","isin":"US808513BK01","value_usd":198496.62,"pct_val":0.267942504378,"balance":200000,"units":"PA","currency":"USD","asset_cat":"EP","issuer_cat":"CORP","inv_country":"US","fair_val_level":"2","payoff_profile":"Long"},{"issuer_name":"ENERGY TRANSFER LP","title":"ENERGY TRANSFER LP 7.125%/VAR PERP","isin":"US29273VAM28","value_usd":195145.96,"pct_val":0.263419584886,"balance":190000,"units":"PA","currency":"USD","asset_cat":"EP","issuer_cat":"CORP","inv_country":"US","fair_val_level":"2","payoff_profile":"Long"},{"issuer_name":"CAPITAL ONE FINANCIAL CORP","title":"CAPITAL ONE FINANCIAL CORP PFD 5% PERP","isin":"US14040H8245","value_usd":189684,"pct_val":0.256046707498,"balance":9900,"units":"NS","currency":"USD","asset_cat":"EP","issuer_cat":"CORP","inv_country":"US","fair_val_level":"1","payoff_profile":"Long"},{"issuer_name":"PRUDENTIAL FINL INC","title":"PRUDENTIAL FINL INC 3.7%/VAR 10/01/2050","isin":"US744320BH48","value_usd":186664.8,"pct_val":0.251971212362,"balance":200000,"units":"PA","currency":"USD","asset_cat":"DBT","issuer_cat":"CORP","inv_country":"US","fair_val_level":"2","payoff_profile":"Long"},{"issuer_name":"EDISON INTERNATIONAL","title":"EDISON INTERNATIONAL 5.375%/VAR PERP","isin":"US281020AS67","value_usd":185367.66,"pct_val":0.250220255897,"balance":186000,"units":"PA","currency":"USD","asset_cat":"EP","issuer_cat":"CORP","inv_country":"US","fair_val_level":"2","payoff_profile":"Long"},{"issuer_name":"DTE ENERGY CO","title":"DTE ENERGY CO 4.375% PFD 10/15/2080","isin":"US2333318267","value_usd":185043.75,"pct_val":0.249783022978,"balance":10425,"units":"NS","currency":"USD","asset_cat":"EP","issuer_cat":"CORP","inv_country":"US","fair_val_level":"1","payoff_profile":"Long"},{"issuer_name":"ENTERGY MISSISSIPPI LLC","title":"ENTERGY MISS 4.9% PFD 10/1/66","isin":"US29364N1081","value_usd":182406,"pct_val":0.246222431664,"balance":8600,"units":"NS","currency":"USD","asset_cat":"EP","issuer_cat":"CORP","inv_country":"US","fair_val_level":"1","payoff_profile":"Long"},{"issuer_name":"BANK OF AMERICA CORPORATION","title":"BANK OF AMERICA CORPORATION 5% PERP PFD","isin":"US06055H2022","value_usd":181395,"pct_val":0.244857723933,"balance":8700,"units":"NS","currency":"USD","asset_cat":"EP","issuer_cat":"CORP","inv_country":"US","fair_val_level":"1","payoff_profile":"Long"},{"issuer_name":"NIPPON LIFE INS CO","title":"NIPPON LIFE INS CO 2.75%/VAR 01/21/2051 144A","isin":"US654579AH48","value_usd":181165.44,"pct_val":0.244547850237,"balance":200000,"units":"PA","currency":"USD","asset_cat":"DBT","issuer_cat":"CORP","inv_country":"JP","fair_val_level":"2","payoff_profile":"Long"},{"issuer_name":"WELLS FARGO and CO","title":"WELLS FARGO and CO NEW 4.25% PERP PFD","isin":"US95002Y4008","value_usd":180241.86,"pct_val":0.243301147204,"balance":10522,"units":"NS","currency":"USD","asset_cat":"EP","issuer_cat":"CORP","inv_country":"US","fair_val_level":"1","payoff_profile":"Long"},{"issuer_name":"ENTERGY ARKANSAS LLC","title":"ENTERGY ARK 4.875% PFD 9/1/66","isin":"US29364D1000","value_usd":179740,"pct_val":0.242623706826,"balance":8600,"units":"NS","currency":"USD","asset_cat":"EP","issuer_cat":"CORP","inv_country":"US","fair_val_level":"1","payoff_profile":"Long"},{"issuer_name":"ALLIANZ SE","title":"ALLIANZ SE 5.6%/VAR 09/03/2054 144A","isin":"US018820AD21","value_usd":179300.98,"pct_val":0.242031091606,"balance":175000,"units":"PA","currency":"USD","asset_cat":"DBT","issuer_cat":"CORP","inv_country":"DE","fair_val_level":"2","payoff_profile":"Long"},{"issuer_name":"BANK OF AMERICA CORPORATION","title":"BANK OF AMERICA CORPORATION SER KK 5.375% PFD PERP","isin":"US06053U6010","value_usd":179040,"pct_val":0.241678805331,"balance":8000,"units":"NS","currency":"USD","asset_cat":"EP","issuer_cat":"CORP","inv_country":"US","fair_val_level":"1","payoff_profile":"Long"},{"issuer_name":"WELLS FARGO and CO","title":"WELLS FARGO and CO NEW 4.7% PFD","isin":"US94988U1280","value_usd":178600,"pct_val":0.241084867248,"balance":9400,"units":"NS","currency":"USD","asset_cat":"EP","issuer_cat":"CORP","inv_country":"US","fair_val_level":"1","payoff_profile":"Long"},{"issuer_name":"TRANSCANADA PIPELINES LTD","title":"TRANSCANADA PIPELINES LTD 11/01/85 PFD","isin":"US8935266812","value_usd":173240,"pct_val":0.233849621512,"balance":7100,"units":"NS","currency":"USD","asset_cat":"EP","issuer_cat":"CORP","inv_country":"CA","fair_val_level":"1","payoff_profile":"Long"},{"issuer_name":"CVS HEALTH CORP","title":"CVS HEALTH CORP 7%/VAR 03/10/2055","isin":"US126650EH94","value_usd":172423.86,"pct_val":0.23274794736,"balance":164000,"units":"PA","currency":"USD","asset_cat":"DBT","issuer_cat":"CORP","inv_country":"US","fair_val_level":"2","payoff_profile":"Long"},{"issuer_name":"PNC FINANCIAL SERVICES GRP INC","title":"PNC FINANCIAL SERVICES GRP INC 6%/VAR PERP","isin":"US693475BD69","value_usd":171094.12,"pct_val":0.230952985482,"balance":170000,"units":"PA","currency":"USD","asset_cat":"EP","issuer_cat":"CORP","inv_country":"US","fair_val_level":"2","payoff_profile":"Long"},{"issuer_name":"VODAFONE GRP PLC","title":"VODAFONE GROUP PLC T5Y+NA 06/04/2081","isin":"US92857WBX74","value_usd":170625.08,"pct_val":0.230319847486,"balance":215000,"units":"PA","currency":"USD","asset_cat":"DBT","issuer_cat":"CORP","inv_country":"GB","fair_val_level":"2","payoff_profile":"Long"},{"issuer_name":"METLIFE INC","title":"METLIFE INC 10.75%/VAR 08/01/2069","isin":"US59156RAV06","value_usd":170537.98,"pct_val":0.230202274743,"balance":128000,"units":"PA","currency":"USD","asset_cat":"DBT","issuer_cat":"CORP","inv_country":"US","fair_val_level":"2","payoff_profile":"Long"},{"issuer_name":"NIPPON LIFE INS CO","title":"NIPPON LIFE INS CO 2.9%/VAR 09/16/2051 144A","isin":"US654579AK76","value_usd":170326.41,"pct_val":0.229916685015,"balance":190000,"units":"PA","currency":"USD","asset_cat":"EP","issuer_cat":"CORP","inv_country":"JP","fair_val_level":"2","payoff_profile":"Long"},{"issuer_name":"US BANCORP DEL","title":"US BANCORP DEL 5.3%/VAR PERP","isin":"US902973AZ90","value_usd":170289.17,"pct_val":0.229866416255,"balance":170000,"units":"PA","currency":"USD","asset_cat":"EP","issuer_cat":"CORP","inv_country":"US","fair_val_level":"2","payoff_profile":"Long"},{"issuer_name":"SCE TRUST VI","title":"SCE TRUST VI 5% PFD PERP","isin":"US78410V2007","value_usd":169874.25,"pct_val":0.229306332643,"balance":9975,"units":"NS","currency":"USD","asset_cat":"EP","issuer_cat":"CORP","inv_country":"US","fair_val_level":"1","payoff_profile":"Long"},{"issuer_name":"VODAFONE GRP PLC","title":"VODAFONE GROUP PLC T5Y+NA 06/04/2081","isin":"US92857WBW91","value_usd":169275.01,"pct_val":0.228497442969,"balance":180000,"units":"PA","currency":"USD","asset_cat":"DBT","issuer_cat":"CORP","inv_country":"GB","fair_val_level":"2","payoff_profile":"Long"},{"issuer_name":"GOLDMAN SACHS GROUP INC (THE)","title":"GOLDMAN SACHS GROUP INC (THE) 7.5%/VAR PERP","isin":"US38141GA799","value_usd":168879.84,"pct_val":0.227964019078,"balance":160000,"units":"PA","currency":"USD","asset_cat":"EP","issuer_cat":"CORP","inv_country":"US","fair_val_level":"2","payoff_profile":"Long"},{"issuer_name":"VODAFONE GRP PLC","title":"VODAFONE GROUP PLC T5Y+NA 06/04/2081","isin":"US92857WBV19","value_usd":167836.17,"pct_val":0.226555211444,"balance":170000,"units":"PA","currency":"USD","asset_cat":"DBT","issuer_cat":"CORP","inv_country":"GB","fair_val_level":"2","payoff_profile":"Long"},{"issuer_name":"ENTERGY NEW ORLEANS LLC","title":"ENTERGY NEW ORLEANS INC 5.5% PFD 4/1/2066 25","isin":"US29364P1030","value_usd":167758,"pct_val":0.226449692944,"balance":7400,"units":"NS","currency":"USD","asset_cat":"EP","issuer_cat":"CORP","inv_country":"US","fair_val_level":"1","payoff_profile":"Long"},{"issuer_name":"PNC FINANCIAL SERVICES GRP INC","title":"PNC FINANCIAL SERVICES GRP INC 6.25%/VAR PERP","isin":"US693475BP99","value_usd":164398.88,"pct_val":0.221915353642,"balance":160000,"units":"PA","currency":"USD","asset_cat":"EP","issuer_cat":"CORP","inv_country":"US","fair_val_level":"2","payoff_profile":"Long"},{"issuer_name":"ROGERS COMMUNICATIONS INC","title":"ROGERS COMMUNICATIONS INC 7%/VAR 04/15/2055","isin":"US775109DG30","value_usd":164225.83,"pct_val":0.221681760494,"balance":158000,"units":"PA","currency":"USD","asset_cat":"DBT","issuer_cat":"CORP","inv_country":"CA","fair_val_level":"2","payoff_profile":"Long"},{"issuer_name":"BANK OF AMERICA CORPORATION","title":"BANK OF AMERICA CORPORATION","isin":"US06055H4002","value_usd":162934.76,"pct_val":0.219938997675,"balance":9062,"units":"NS","currency":"USD","asset_cat":"EP","issuer_cat":"CORP","inv_country":"US","fair_val_level":"1","payoff_profile":"Long"},{"issuer_name":"MORGAN STANLEY","title":"MORGAN STANLEY 6.375/VAR PREF PERP","isin":"US61761J4067","value_usd":161280,"pct_val":0.217705304534,"balance":6400,"units":"NS","currency":"USD","asset_cat":"EP","issuer_cat":"CORP","inv_country":"US","fair_val_level":"1","payoff_profile":"Long"},{"issuer_name":"TRANSCANADA TRUST","title":"TRANSCANADA TRUST 5.3%/VAR 03/15/2077","isin":"US89356BAC28","value_usd":160376.33,"pct_val":0.216485477199,"balance":161000,"units":"PA","currency":"USD","asset_cat":"DBT","issuer_cat":"CORP","inv_country":"CA","fair_val_level":"2","payoff_profile":"Long"},{"issuer_name":"DUKE ENERGY CORP NEW","title":"DUKE ENERGY CORP NEW SER A 5.75% PFD PERP","isin":"US26441C5013","value_usd":159360,"pct_val":0.215113574718,"balance":6400,"units":"NS","currency":"USD","asset_cat":"EP","issuer_cat":"CORP","inv_country":"US","fair_val_level":"1","payoff_profile":"Long"},{"issuer_name":"SOUTHERN COMPANY","title":"SOUTHERN COMPANY SER A 4.95% PFD 01/30/2080","isin":"US8425878001","value_usd":157935.7,"pct_val":0.213190970147,"balance":7838,"units":"NS","currency":"USD","asset_cat":"EP","issuer_cat":"CORP","inv_country":"US","fair_val_level":"1","payoff_profile":"Long"},{"issuer_name":"AERCAP IRELAND CAPITAL DAC / AERCAP GLOBAL AVIATION TRUST","title":"AERCAP IRELAND CAP LTD / AERCAP GLOBAL AVIATION TR 6.95%/VAR 03/10/2055","isin":"US00774MBK09","value_usd":157307.49,"pct_val":0.212342975049,"balance":150000,"units":"PA","currency":"USD","asset_cat":"DBT","issuer_cat":"CORP","inv_country":"IE","fair_val_level":"2","payoff_profile":"Long"},{"issuer_name":"VORNADO REALTY TRUST","title":"VORNADO RLTY SR L 5.4% PFD PRP","isin":"US9290428443","value_usd":155672,"pct_val":0.210135293697,"balance":8800,"units":"NS","currency":"USD","asset_cat":"EP","issuer_cat":"CORP","inv_country":"US","fair_val_level":"1","payoff_profile":"Long"},{"issuer_name":"STRATEGY INC","title":"STRATEGY INC 9%/VAR PERP PFD","isin":"US5949728530","value_usd":154832,"pct_val":0.209001411902,"balance":1600,"units":"NS","currency":"USD","asset_cat":"EP","issuer_cat":"CORP","inv_country":"US","fair_val_level":"1","payoff_profile":"Long"},{"issuer_name":"KEYCORP","title":"KEYCORP 5%/VAR PERP","isin":"US493267AK43","value_usd":154032.32,"pct_val":0.207921956434,"balance":155000,"units":"PA","currency":"USD","asset_cat":"EP","issuer_cat":"CORP","inv_country":"US","fair_val_level":"2","payoff_profile":"Long"},{"issuer_name":"NORTHERN TRUST CORP","title":"NORTHERN TRUST CORP 4.6%/VAR PERP","isin":"US665859AQ77","value_usd":153655.11,"pct_val":0.207412776015,"balance":155000,"units":"PA","currency":"USD","asset_cat":"EP","issuer_cat":"CORP","inv_country":"US","fair_val_level":"2","payoff_profile":"Long"},{"issuer_name":"MEIJI YASUDA LIFE INSURANCE CO","title":"MEIJI YASUDA LIFE INSURANCE CO 5.8%/VAR 09/11/2054 144A","isin":"US585270AD32","value_usd":153012.15,"pct_val":0.206544870493,"balance":150000,"units":"PA","currency":"USD","asset_cat":"DBT","issuer_cat":"CORP","inv_country":"JP","fair_val_level":"2","payoff_profile":"Long"},{"issuer_name":"JPMORGAN CHASE and CO","title":"JPMORGAN CHASE and CO 6.875%/VAR PERP","isin":"US48128BAQ41","value_usd":152939.48,"pct_val":0.206446776219,"balance":145000,"units":"PA","currency":"USD","asset_cat":"EP","issuer_cat":"CORP","inv_country":"US","fair_val_level":"2","payoff_profile":"Long"},{"issuer_name":"BROOKFIELD OAKTREE HOLDINGS LLC","title":"BROOKFIELD OAKTREE HOLDINGS LLC SER A 6.625% SER A PERP PFD","isin":"US6740013007","value_usd":152670,"pct_val":0.206083016141,"balance":7000,"units":"NS","currency":"USD","asset_cat":"EP","issuer_cat":"CORP","inv_country":"US","fair_val_level":"1","payoff_profile":"Long"},{"issuer_name":"ALLIANZ SE","title":"ALLIANZ SE 6.35%/VAR 09/06/2053 144A","isin":"US018820AC48","value_usd":150647.42,"pct_val":0.20335281776,"balance":140000,"units":"PA","currency":"USD","asset_cat":"DBT","issuer_cat":"CORP","inv_country":"DE","fair_val_level":"2","payoff_profile":"Long"},{"issuer_name":"BROOKFIELD OAKTREE HOLDINGS LLC","title":"BROOKFIELD OAKTREE HOLDINGS LLC SER B 6.55% PERP PFD","isin":"US6740014096","value_usd":150500,"pct_val":0.203153821505,"balance":7000,"units":"NS","currency":"USD","asset_cat":"EP","issuer_cat":"CORP","inv_country":"US","fair_val_level":"1","payoff_profile":"Long"},{"issuer_name":"NEXTERA ENERGY CAP HLDGS INC","title":"NEXTERA ENERGY CAP HLDGS INC 6.75%/VAR 06/15/2054","isin":"US65339KDB35","value_usd":150235.26,"pct_val":0.20279645976,"balance":140000,"units":"PA","currency":"USD","asset_cat":"DBT","issuer_cat":"CORP","inv_country":"US","fair_val_level":"2","payoff_profile":"Long"},{"issuer_name":"DTE ENERGY CO","title":"DTE ENERGY CO 4.375% 12/01/2081","isin":"US2333318184","value_usd":149554,"pct_val":0.201876854627,"balance":8600,"units":"NS","currency":"USD","asset_cat":"EP","issuer_cat":"CORP","inv_country":"US","fair_val_level":"1","payoff_profile":"Long"},{"issuer_name":"PRUDENTIAL FINL INC","title":"PRUDENTIAL FINL INC T5Y+NA 03/01/2052","isin":"US744320BJ04","value_usd":148707.71,"pct_val":0.200734482218,"balance":150000,"units":"PA","currency":"USD","asset_cat":"DBT","issuer_cat":"CORP","inv_country":"US","fair_val_level":"2","payoff_profile":"Long"},{"issuer_name":"ATHENE HOLDING LTD","title":"ATHENE HOLDING LTD SER A 6.35%/VAR PFD PERP","isin":"US04686J8615","value_usd":148560,"pct_val":0.200535094504,"balance":6000,"units":"NS","currency":"USD","asset_cat":"EP","issuer_cat":"CORP","inv_country":"US","fair_val_level":"1","payoff_profile":"Long"},{"issuer_name":"NEXTERA ENERGY CAP HLDGS INC","title":"NEXTERA ENERGY CAP HLDGS INC 6.5%/VAR 08/15/2055","isin":"US65339KDF49","value_usd":148131.34,"pct_val":0.199956463825,"balance":140000,"units":"PA","currency":"USD","asset_cat":"DBT","issuer_cat":"CORP","inv_country":"US","fair_val_level":"2","payoff_profile":"Long"},{"issuer_name":"BELL TELEPHONE CO OF CANADA OR BELL CANADA/THE","title":"BELL TELEPHONE CO OF CANADA OR BELL CANADA/THE 7%/VAR 09/15/2055","isin":"US0778FPAQ20","value_usd":147293.44,"pct_val":0.198825416735,"balance":140000,"units":"PA","currency":"USD","asset_cat":"DBT","issuer_cat":"CORP","inv_country":"CA","fair_val_level":"2","payoff_profile":"Long"},{"issuer_name":"LIBERTY MUTUAL GROUP INC","title":"LIBERTY MUTUAL GROUP INC T5Y+NA 12/15/2051 144A","isin":"US53079EBM57","value_usd":147092.36,"pct_val":0.198553987031,"balance":150000,"units":"PA","currency":"USD","asset_cat":"DBT","issuer_cat":"CORP","inv_country":"US","fair_val_level":"2","payoff_profile":"Long"},{"issuer_name":"CMS ENERGY CORP","title":"CMS ENERGY CORP T5Y+NA 06/01/2050","isin":"US125896BU39","value_usd":146673.95,"pct_val":0.19798919241,"balance":150000,"units":"PA","currency":"USD","asset_cat":"DBT","issuer_cat":"CORP","inv_country":"US","fair_val_level":"2","payoff_profile":"Long"},{"issuer_name":"NEXTERA ENERGY CAP HLDGS INC","title":"NEXTERA ENERGY CAP HLDGS INC 6.7%/VAR 09/01/2054","isin":"US65339KCW80","value_usd":145487.02,"pct_val":0.196387003936,"balance":140000,"units":"PA","currency":"USD","asset_cat":"DBT","issuer_cat":"CORP","inv_country":"US","fair_val_level":"2","payoff_profile":"Long"},{"issuer_name":"BELL TELEPHONE CO OF CANADA OR BELL CANADA/THE","title":"BELL TELEPHONE CO OF CANADA OR BELL CANADA/THE 6.875%/VAR 09/15/2055","isin":"US0778FPAP47","value_usd":145313,"pct_val":0.196152101424,"balance":140000,"units":"PA","currency":"USD","asset_cat":"DBT","issuer_cat":"CORP","inv_country":"CA","fair_val_level":"2","payoff_profile":"Long"},{"issuer_name":"SCE TRUST II","title":"SCE TRUST II 5.1% PFD PERP","isin":"US78407R2040","value_usd":144542.85,"pct_val":0.195112507301,"balance":8331,"units":"NS","currency":"USD","asset_cat":"EP","issuer_cat":"CORP","inv_country":"US","fair_val_level":"1","payoff_profile":"Long"},{"issuer_name":"QWEST CORPORATION","title":"QWEST CORPORATION 6.75% PFD 6/15/57","isin":"US74913G8731","value_usd":143930,"pct_val":0.194285246041,"balance":7400,"units":"NS","currency":"USD","asset_cat":"EP","issuer_cat":"CORP","inv_country":"US","fair_val_level":"1","payoff_profile":"Long"},{"issuer_name":"SOUTHERN COMPANY","title":"SOUTHERN COMPANY 6.375%/VAR 03/15/2055","isin":"US842587EB90","value_usd":142927.34,"pct_val":0.192931796137,"balance":135000,"units":"PA","currency":"USD","asset_cat":"DBT","issuer_cat":"CORP","inv_country":"US","fair_val_level":"2","payoff_profile":"Long"},{"issuer_name":"CENTERPOINT ENERGY INC","title":"CENTERPOINT ENERGY INC 6.7%/VAR 05/15/2055","isin":"US15189TBP12","value_usd":141634.37,"pct_val":0.191186468585,"balance":138000,"units":"PA","currency":"USD","asset_cat":"DBT","issuer_cat":"CORP","inv_country":"US","fair_val_level":"2","payoff_profile":"Long"},{"issuer_name":"BNP PARIBAS","title":"BNP PARIBAS 7.375%/VAR PERP 144A","isin":"US05602XJC39","value_usd":140053.05,"pct_val":0.189051909109,"balance":135000,"units":"PA","currency":"USD","asset_cat":"EP","issuer_cat":"CORP","inv_country":"FR","fair_val_level":"2","payoff_profile":"Long"},{"issuer_name":"TRANSCANADA PIPELINES LTD","title":"TRANSCANADA PIPELINES LTD 7%/VAR 06/01/2065","isin":"US89352HBG39","value_usd":137773.98,"pct_val":0.185975485322,"balance":135000,"units":"PA","currency":"USD","asset_cat":"DBT","issuer_cat":"CORP","inv_country":"CA","fair_val_level":"2","payoff_profile":"Long"},{"issuer_name":"METLIFE INC","title":"METLIFE INC T5Y+NA 03/15/2055","isin":"US59156RCQ92","value_usd":137323.03,"pct_val":0.18536676628,"balance":130000,"units":"PA","currency":"USD","asset_cat":"DBT","issuer_cat":"CORP","inv_country":"US","fair_val_level":"2","payoff_profile":"Long"},{"issuer_name":"NEXTERA ENERGY CAP HLDGS INC","title":"NEXTERA ENERGY CAP HLDGS INC 4.8%/VAR 12/01/2077","isin":"US65339KAV26","value_usd":136998.61,"pct_val":0.184928844933,"balance":140000,"units":"PA","currency":"USD","asset_cat":"DBT","issuer_cat":"CORP","inv_country":"US","fair_val_level":"2","payoff_profile":"Long"},{"issuer_name":"NEXTERA ENERGY CAP HLDGS INC","title":"NEXTERA ENERGY CAP HLDGS INC 3.8%/VAR 03/15/2082","isin":"US65339KCB44","value_usd":136892.6,"pct_val":0.184785746351,"balance":140000,"units":"PA","currency":"USD","asset_cat":"DBT","issuer_cat":"CORP","inv_country":"US","fair_val_level":"2","payoff_profile":"Long"},{"issuer_name":"AES CORP","title":"AES CORP 6.95%/VAR 07/15/2055","isin":"US00130HCL78","value_usd":136572.67,"pct_val":0.184353885871,"balance":140000,"units":"PA","currency":"USD","asset_cat":"DBT","issuer_cat":"CORP","inv_country":"US","fair_val_level":"2","payoff_profile":"Long"},{"issuer_name":"CAPITAL ONE FINANCIAL CORP","title":"CAPITAL ONE FINANCIAL CORP SER J 5% PFD PERP","isin":"US14040H7825","value_usd":134754,"pct_val":0.181898937296,"balance":7400,"units":"NS","currency":"USD","asset_cat":"EP","issuer_cat":"CORP","inv_country":"US","fair_val_level":"1","payoff_profile":"Long"},{"issuer_name":"NEXTERA ENERGY CAP HLDGS INC","title":"NEXTERA ENERGY CAP HLDGS INC 5.65% 03/01/2079 PFD","isin":"US65339K8606","value_usd":134344,"pct_val":0.181345494992,"balance":5600,"units":"NS","currency":"USD","asset_cat":"EP","issuer_cat":"CORP","inv_country":"US","fair_val_level":"1","payoff_profile":"Long"},{"issuer_name":"CITIZENS FINANCIAL GRP INC","title":"CITIZENS FINANCIAL GROUP INC 6.5%/VAR PFD PERP","isin":"US1746108083","value_usd":132496,"pct_val":0.178850955044,"balance":5200,"units":"NS","currency":"USD","asset_cat":"EP","issuer_cat":"CORP","inv_country":"US","fair_val_level":"1","payoff_profile":"Long"},{"issuer_name":"AMERICAN ELECTRIC POWER CO INC","title":"AMERICAN ELECTRIC POWER INC 3.875%/VAR 02/15/2062","isin":"US025537AU52","value_usd":131379.34,"pct_val":0.177343621181,"balance":135000,"units":"PA","currency":"USD","asset_cat":"DBT","issuer_cat":"CORP","inv_country":"US","fair_val_level":"2","payoff_profile":"Long"},{"issuer_name":"COREBRIDGE FINANCIAL INC","title":"COREBRIDGE FINANCIAL INC T5Y+NA 09/15/2054","isin":"US21871XAT63","value_usd":131096.94,"pct_val":0.176962420921,"balance":130000,"units":"PA","currency":"USD","asset_cat":"DBT","issuer_cat":"CORP","inv_country":"US","fair_val_level":"2","payoff_profile":"Long"},{"issuer_name":"STRATEGY INC","title":"STRATEGY INC SER A 10% PERP PFD","isin":"US5949728795","value_usd":130464,"pct_val":0.176108040989,"balance":1200,"units":"NS","currency":"USD","asset_cat":"EP","issuer_cat":"CORP","inv_country":"US","fair_val_level":"1","payoff_profile":"Long"},{"issuer_name":"CARLYLE FINANCE LLC","title":"CARLYLE FINANCE LLC 4.625% 05/15/2061 PFD","isin":"US14314C1053","value_usd":130314,"pct_val":0.175905562097,"balance":7400,"units":"NS","currency":"USD","asset_cat":"EP","issuer_cat":"CORP","inv_country":"US","fair_val_level":"1","payoff_profile":"Long"},{"issuer_name":"TRANSCANADA TRUST","title":"TRANSCANADA TRUST 5.875%/VAR 08/15/2076","isin":"US89356BAB45","value_usd":129107.07,"pct_val":0.174276376437,"balance":129000,"units":"PA","currency":"USD","asset_cat":"DBT","issuer_cat":"CORP","inv_country":"CA","fair_val_level":"2","payoff_profile":"Long"},{"issuer_name":"BANK OF AMERICA CORPORATION","title":"BANK OF AMERICA CORPORATION SER PP 4.125% PFD PERP","isin":"US06055H6080","value_usd":127425,"pct_val":0.17200581864,"balance":7500,"units":"NS","currency":"USD","asset_cat":"EP","issuer_cat":"CORP","inv_country":"US","fair_val_level":"1","payoff_profile":"Long"},{"issuer_name":"ENBRIDGE INC","title":"ENBRIDGE INC 5.75%/VAR 07/15/2080","isin":"US29250NBC83","value_usd":127340.14,"pct_val":0.171891269581,"balance":126000,"units":"PA","currency":"USD","asset_cat":"EP","issuer_cat":"CORP","inv_country":"CA","fair_val_level":"2","payoff_profile":"Long"},{"issuer_name":"ALLY FINANCIAL INC","title":"ALLY FINL INC 4.7%/VAR PERP","isin":"US02005NBM11","value_usd":127315.24,"pct_val":0.171857658085,"balance":130000,"units":"PA","currency":"USD","asset_cat":"EP","issuer_cat":"CORP","inv_country":"US","fair_val_level":"2","payoff_profile":"Long"},{"issuer_name":"TRANSCANADA TRUST","title":"TRANSCANADA TRUST 5.5%/VAR 09/15/2079","isin":"US89356BAE83","value_usd":126892.16,"pct_val":0.171286559621,"balance":128000,"units":"PA","currency":"USD","asset_cat":"DBT","issuer_cat":"CORP","inv_country":"CA","fair_val_level":"2","payoff_profile":"Long"},{"issuer_name":"METLIFE INC","title":"METLIFE INC SER F 4.75% PFD PERP","isin":"US59156R8503","value_usd":126752,"pct_val":0.171097363345,"balance":6400,"units":"NS","currency":"USD","asset_cat":"EP","issuer_cat":"CORP","inv_country":"US","fair_val_level":"1","payoff_profile":"Long"},{"issuer_name":"PRUDENTIAL FINL INC","title":"PRUDENTIAL FINL INC T5Y+NA 03/15/2054","isin":"US744320BP63","value_usd":126421.2,"pct_val":0.170650829895,"balance":120000,"units":"PA","currency":"USD","asset_cat":"DBT","issuer_cat":"CORP","inv_country":"US","fair_val_level":"2","payoff_profile":"Long"},{"issuer_name":"EMERA INC","title":"EMERA INC 6.75%/VAR 06/15/2076","isin":"US290876AD37","value_usd":125914.63,"pct_val":0.16996703168,"balance":125000,"units":"PA","currency":"USD","asset_cat":"DBT","issuer_cat":"CORP","inv_country":"CA","fair_val_level":"2","payoff_profile":"Long"},{"issuer_name":"ENTERPRISE PRODUCTS OPERATING LLC","title":"ENTERPRISE PRODS OPER LLC 5.25%/VAR 08/16/2077","isin":"US29379VBN29","value_usd":125746.14,"pct_val":0.16973959389,"balance":126000,"units":"PA","currency":"USD","asset_cat":"DBT","issuer_cat":"CORP","inv_country":"US","fair_val_level":"2","payoff_profile":"Long"},{"issuer_name":"SEMPRA","title":"SEMPRA ENERGY 5.75% PFD 07/01/2079","isin":"US8168516040","value_usd":125685,"pct_val":0.169657063494,"balance":5700,"units":"NS","currency":"USD","asset_cat":"EP","issuer_cat":"CORP","inv_country":"US","fair_val_level":"1","payoff_profile":"Long"},{"issuer_name":"ENBRIDGE INC","title":"ENBRIDGE INC 5.5%/VAR 07/15/2077","isin":"US29250NAS45","value_usd":125636.93,"pct_val":0.169592175759,"balance":126000,"units":"PA","currency":"USD","asset_cat":"EP","issuer_cat":"CORP","inv_country":"CA","fair_val_level":"2","payoff_profile":"Long"},{"issuer_name":"ENBRIDGE INC","title":"ENBRIDGE INC 6.25%/VAR 03/01/2078","isin":"US29250NAW56","value_usd":124492.85,"pct_val":0.168047828755,"balance":123000,"units":"PA","currency":"USD","asset_cat":"EP","issuer_cat":"CORP","inv_country":"CA","fair_val_level":"2","payoff_profile":"Long"},{"issuer_name":"PRUDENTIAL FINL INC","title":"PRUDENTIAL FINL INC 4.5%/VAR 09/15/2047","isin":"US744320AW24","value_usd":123468.85,"pct_val":0.166665572853,"balance":125000,"units":"PA","currency":"USD","asset_cat":"DBT","issuer_cat":"CORP","inv_country":"US","fair_val_level":"2","payoff_profile":"Long"},{"issuer_name":"PARAMOUNT GLOBAL","title":"PARAMOUNT GLOBAL T5Y+NA 03/30/2062","isin":"US92556HAE71","value_usd":122483.28,"pct_val":0.165335192043,"balance":125000,"units":"PA","currency":"USD","asset_cat":"DBT","issuer_cat":"CORP","inv_country":"US","fair_val_level":"2","payoff_profile":"Long"},{"issuer_name":"PRUDENTIAL FINL INC","title":"PRUDENTIAL FINL INC 5.7%/VAR 09/15/2048","isin":"US744320BF81","value_usd":121502.88,"pct_val":0.164011790006,"balance":120000,"units":"PA","currency":"USD","asset_cat":"DBT","issuer_cat":"CORP","inv_country":"US","fair_val_level":"2","payoff_profile":"Long"},{"issuer_name":"VOYA FINANCIAL INC","title":"VOYA FINANCIAL INC SER B 5.35%/VAR PFD PERP","isin":"US9290892093","value_usd":121300,"pct_val":0.163737930555,"balance":5000,"units":"NS","currency":"USD","asset_cat":"EP","issuer_cat":"CORP","inv_country":"US","fair_val_level":"1","payoff_profile":"Long"},{"issuer_name":"KEYCORP","title":"KEYCORP 5.625% PFD PERP","isin":"US4932678687","value_usd":117450,"pct_val":0.158540972331,"balance":5400,"units":"NS","currency":"USD","asset_cat":"EP","issuer_cat":"CORP","inv_country":"US","fair_val_level":"1","payoff_profile":"Long"},{"issuer_name":"KEYCORP","title":"KEYCORP 5.65% PFD","isin":"US4932678760","value_usd":115010,"pct_val":0.15524731569,"balance":5300,"units":"NS","currency":"USD","asset_cat":"EP","issuer_cat":"CORP","inv_country":"US","fair_val_level":"1","payoff_profile":"Long"},{"issuer_name":"EQUITABLE HOLDINGS INC","title":"EQUITABLE HOLDINGS INC SER A 5.25% PFD PERP","isin":"US29452E2000","value_usd":114285,"pct_val":0.154268667712,"balance":5700,"units":"NS","currency":"USD","asset_cat":"EP","issuer_cat":"CORP","inv_country":"US","fair_val_level":"1","payoff_profile":"Long"},{"issuer_name":"QWEST CORPORATION","title":"QWEST CORPORATION 6.5% 09/01/56 PFD","isin":"US74913G8814","value_usd":113752,"pct_val":0.153549192717,"balance":5900,"units":"NS","currency":"USD","asset_cat":"EP","issuer_cat":"CORP","inv_country":"US","fair_val_level":"1","payoff_profile":"Long"},{"issuer_name":"MORGAN STANLEY","title":"MORGAN STANLEY SER L 4.875% PFD PERP","isin":"US61762V8046","value_usd":112482,"pct_val":0.151834871432,"balance":5400,"units":"NS","currency":"USD","asset_cat":"EP","issuer_cat":"CORP","inv_country":"US","fair_val_level":"1","payoff_profile":"Long"},{"issuer_name":"COREBRIDGE FINANCIAL INC","title":"COREBRIDGE FINANCIAL INC 0% PERP","isin":"US21871XAU37","value_usd":112479.95,"pct_val":0.151832104221,"balance":110000,"units":"PA","currency":"USD","asset_cat":"DBT","issuer_cat":"CORP","inv_country":"US","fair_val_level":"2","payoff_profile":"Long"},{"issuer_name":"TRUIST FINANCIAL CORP","title":"TRUIST FINANCIAL CORP 4.75% PERP PFD","isin":"US89832Q6952","value_usd":112395,"pct_val":0.151717433675,"balance":5900,"units":"NS","currency":"USD","asset_cat":"EP","issuer_cat":"CORP","inv_country":"US","fair_val_level":"1","payoff_profile":"Long"},{"issuer_name":"FIRST CITIZENS BANCSHARES INC/NC","title":"FIRST CITIZENS BANCSHARES INC/NC VAR PERP","isin":"US31959XAG88","value_usd":111407.01,"pct_val":0.150383786206,"balance":110000,"units":"PA","currency":"USD","asset_cat":"DBT","issuer_cat":"CORP","inv_country":"US","fair_val_level":"2","payoff_profile":"Long"},{"issuer_name":"NEXTERA ENERGY CAP HLDGS INC","title":"NEXTERA ENERGY CAP HLDGS INC 6.5% 06/01/2085 PFD","isin":"US65339K8374","value_usd":110880,"pct_val":0.149672396867,"balance":4400,"units":"NS","currency":"USD","asset_cat":"EP","issuer_cat":"CORP","inv_country":"US","fair_val_level":"1","payoff_profile":"Long"},{"issuer_name":"SOUTHERN COMPANY","title":"SOUTHERN CO 5.25% 12/01/77 PFD","isin":"US8425874042","value_usd":110017.76,"pct_val":0.148508494202,"balance":5084,"units":"NS","currency":"USD","asset_cat":"EP","issuer_cat":"CORP","inv_country":"US","fair_val_level":"1","payoff_profile":"Long"},{"issuer_name":"CMS ENERGY CORP","title":"CMS ENERGY CORP 5.875% PFD 03/01/2079","isin":"US1258968452","value_usd":109792,"pct_val":0.148203749971,"balance":4700,"units":"NS","currency":"USD","asset_cat":"EP","issuer_cat":"CORP","inv_country":"US","fair_val_level":"1","payoff_profile":"Long"},{"issuer_name":"FORD MOTOR CO","title":"FORD MOTOR CO 6.0% 12/01/2059 PFD","isin":"US3453708378","value_usd":109763,"pct_val":0.148164604052,"balance":5300,"units":"NS","currency":"USD","asset_cat":"EP","issuer_cat":"CORP","inv_country":"US","fair_val_level":"1","payoff_profile":"Long"},{"issuer_name":"M and T BANK CORP","title":"M and T BANK CORP 7.5% PFD PERP","isin":"US55261F8648","value_usd":109224,"pct_val":0.147437029901,"balance":4100,"units":"NS","currency":"USD","asset_cat":"EP","issuer_cat":"CORP","inv_country":"US","fair_val_level":"1","payoff_profile":"Long"},{"issuer_name":"ALLSTATE CORP","title":"ALLSTATE CORP SER J 7.375% PFD PERP","isin":"US0200027888","value_usd":108814,"pct_val":0.146883587596,"balance":4100,"units":"NS","currency":"USD","asset_cat":"EP","issuer_cat":"CORP","inv_country":"US","fair_val_level":"1","payoff_profile":"Long"},{"issuer_name":"APOLLO GLOBAL MANAGEMENT, INC","title":"APOLLO ASSET MANAGEMENT INC 07.625/VAR 09/15/53 PFD","isin":"US03769M2052","value_usd":108322,"pct_val":0.146219456831,"balance":4100,"units":"NS","currency":"USD","asset_cat":"EP","issuer_cat":"CORP","inv_country":"US","fair_val_level":"1","payoff_profile":"Long"},{"issuer_name":"SCHWAB CHARLES CORP","title":"CHARLES SCHWAB CORP NEW 5.95% PFD PERP","isin":"US8085136005","value_usd":107414,"pct_val":0.144993784606,"balance":4300,"units":"NS","currency":"USD","asset_cat":"EP","issuer_cat":"CORP","inv_country":"US","fair_val_level":"1","payoff_profile":"Long"},{"issuer_name":"ENBRIDGE INC","title":"ENBRIDGE INC 8.25%/VAR 01/15/2084","isin":"US29250NBS36","value_usd":106846.7,"pct_val":0.144228009436,"balance":100000,"units":"PA","currency":"USD","asset_cat":"EP","issuer_cat":"CORP","inv_country":"CA","fair_val_level":"2","payoff_profile":"Long"},{"issuer_name":"DTE ENERGY CO","title":"DTE ENERGY CO 5.25% PFD 12/1/77 PAR= 25","isin":"US2333318598","value_usd":106500,"pct_val":0.143760013224,"balance":5000,"units":"NS","currency":"USD","asset_cat":"EP","issuer_cat":"CORP","inv_country":"US","fair_val_level":"1","payoff_profile":"Long"},{"issuer_name":"METLIFE INC","title":"METLIFE INC 5.625% PERP PFD","isin":"US59156R8768","value_usd":105750,"pct_val":0.142747618765,"balance":4500,"units":"NS","currency":"USD","asset_cat":"EP","issuer_cat":"CORP","inv_country":"US","fair_val_level":"1","payoff_profile":"Long"},{"issuer_name":"BANK OF AMERICA CORPORATION","title":"BANK OF AMERICA CORPORATION 4.250% PFD PERP","isin":"US06055H8060","value_usd":105017.12,"pct_val":0.141758333897,"balance":6032,"units":"NS","currency":"USD","asset_cat":"EP","issuer_cat":"CORP","inv_country":"US","fair_val_level":"1","payoff_profile":"Long"},{"issuer_name":"COREBRIDGE FINANCIAL INC","title":"COREBRIDGE FINANCIAL INC 6.375% PFD 12/15/2064","isin":"US21871X2080","value_usd":104588,"pct_val":0.141179082283,"balance":4400,"units":"NS","currency":"USD","asset_cat":"EP","issuer_cat":"CORP","inv_country":"US","fair_val_level":"1","payoff_profile":"Long"},{"issuer_name":"AMERICAN FINL GROUP INC OHIO","title":"AMERICAN FINL GROUP INC OHIO 4.5% PFD 09/15/2060","isin":"US0259328641","value_usd":104220,"pct_val":0.140682334068,"balance":6000,"units":"NS","currency":"USD","asset_cat":"EP","issuer_cat":"CORP","inv_country":"US","fair_val_level":"1","payoff_profile":"Long"},{"issuer_name":"FTAI AVIATION LTD","title":"FTAI AVIATION LTD 8.25% PFD PERP","isin":"KYG3730V1398","value_usd":103160,"pct_val":0.139251483232,"balance":4000,"units":"NS","currency":"USD","asset_cat":"EP","issuer_cat":"CORP","inv_country":"KY","fair_val_level":"1","payoff_profile":"Long"},{"issuer_name":"REINSURANCE GROUP OF AMERICA INC","title":"7.125% Fixed-Rate Rst Sbd Dbtrs due 2052","isin":"US7593518852","value_usd":102280,"pct_val":0.138063607067,"balance":4000,"units":"NS","currency":"USD","asset_cat":"EP","issuer_cat":"CORP","inv_country":"US","fair_val_level":"1","payoff_profile":"Long"},{"issuer_name":"VISTRA CORP","title":"VISTRA CORP 8%/VAR PERP 144A","isin":"US92840MAB81","value_usd":102196.3,"pct_val":0.137950623845,"balance":100000,"units":"PA","currency":"USD","asset_cat":"EP","issuer_cat":"CORP","inv_country":"US","fair_val_level":"2","payoff_profile":"Long"},{"issuer_name":"DIGITAL REALTY TRUST INC","title":"DIGITAL RLTY TR INC 5.25% PFD PERP","isin":"US2538688555","value_usd":95395.5,"pct_val":0.12877050086,"balance":4350,"units":"NS","currency":"USD","asset_cat":"EP","issuer_cat":"CORP","inv_country":"US","fair_val_level":"1","payoff_profile":"Long"},{"issuer_name":"NIPPON LIFE INS CO","title":"NIPPON LIFE INS CO 3.4%/VAR 01/23/2050 144A","isin":"US654579AG64","value_usd":94723.01,"pct_val":0.127862733993,"balance":100000,"units":"PA","currency":"USD","asset_cat":"DBT","issuer_cat":"CORP","inv_country":"JP","fair_val_level":"2","payoff_profile":"Long"},{"issuer_name":"BANK NEW YORK MELLON CORP","title":"BANK NEW YORK MELLON CORP 3.75%/VAR PERP","isin":"US064058AL44","value_usd":94322.93,"pct_val":0.127322682293,"balance":96000,"units":"PA","currency":"USD","asset_cat":"EP","issuer_cat":"CORP","inv_country":"US","fair_val_level":"2","payoff_profile":"Long"},{"issuer_name":"ENSTAR GROUP LTD","title":"ENSTAR GROUP LTD 7%/VAR PFD","isin":"US29359U1097","value_usd":92625,"pct_val":0.125030715727,"balance":3900,"units":"NS","currency":"USD","asset_cat":"EP","issuer_cat":"CORP","inv_country":"BM","fair_val_level":"1","payoff_profile":"Long"},{"issuer_name":"PRUDENTIAL FINL INC","title":"PRUDENTIAL FINL INC 5.625% 08/15/2058 PFD","isin":"US7443208050","value_usd":91124,"pct_val":0.123004576949,"balance":3800,"units":"NS","currency":"USD","asset_cat":"EP","issuer_cat":"CORP","inv_country":"US","fair_val_level":"1","payoff_profile":"Long"},{"issuer_name":"SYNCHRONY FINANCIAL","title":"SYNCHRONY FINANCIAL SER A 5.625% PFD PERP","isin":"US87165B2025","value_usd":90160,"pct_val":0.121703312604,"balance":4600,"units":"NS","currency":"USD","asset_cat":"EP","issuer_cat":"CORP","inv_country":"US","fair_val_level":"1","payoff_profile":"Long"},{"issuer_name":"CITIGROUP INC","title":"CITIGROUP INC 4.15%/VAR PERP","isin":"US172967NB34","value_usd":87466.29,"pct_val":0.118067183165,"balance":89000,"units":"PA","currency":"USD","asset_cat":"EP","issuer_cat":"CORP","inv_country":"US","fair_val_level":"2","payoff_profile":"Long"},{"issuer_name":"KKR GROUP FINANCE CO IX LLC","title":"KKR GROUP FINANCE CO IX LLC 4.625% PFD 04/01/2061","isin":"US48253M1045","value_usd":87275,"pct_val":0.117808968584,"balance":5000,"units":"NS","currency":"USD","asset_cat":"EP","issuer_cat":"CORP","inv_country":"US","fair_val_level":"1","payoff_profile":"Long"},{"issuer_name":"US BANCORP DEL","title":"US BANCORP SER M 4% PFD PERP","isin":"US9029737189","value_usd":87026,"pct_val":0.117472853623,"balance":5300,"units":"NS","currency":"USD","asset_cat":"EP","issuer_cat":"CORP","inv_country":"US","fair_val_level":"1","payoff_profile":"Long"},{"issuer_name":"BERKLEY WR CORP","title":"BERKLEY WR CORP 4.25% PFD 09/30/2060","isin":"US0844238883","value_usd":85736,"pct_val":0.115731535153,"balance":5000,"units":"NS","currency":"USD","asset_cat":"EP","issuer_cat":"CORP","inv_country":"US","fair_val_level":"1","payoff_profile":"Long"},{"issuer_name":"ATHENE HOLDING LTD","title":"ATHENE HOLDINGS 5.625% SER B PFD PERP","isin":"US04686J2006","value_usd":85398,"pct_val":0.115275282717,"balance":4300,"units":"NS","currency":"USD","asset_cat":"EP","issuer_cat":"CORP","inv_country":"US","fair_val_level":"1","payoff_profile":"Long"},{"issuer_name":"SCHWAB CHARLES CORP","title":"SCHWAB CHARLES 4.45% PERP PFD","isin":"US8085138654","value_usd":84825,"pct_val":0.11450181335,"balance":4500,"units":"NS","currency":"USD","asset_cat":"EP","issuer_cat":"CORP","inv_country":"US","fair_val_level":"1","payoff_profile":"Long"},{"issuer_name":"REGIONS FINL CORP NEW","title":"REGIONS FINL CORP NEW VAR/6.95% PERP PFD","isin":"US7591EP8604","value_usd":84414,"pct_val":0.113947021186,"balance":3300,"units":"NS","currency":"USD","asset_cat":"EP","issuer_cat":"CORP","inv_country":"US","fair_val_level":"1","payoff_profile":"Long"},{"issuer_name":"KKR and CO INC","title":"KKR and CO LP 6.875% PFD 06/01/2065","isin":"US48251W6093","value_usd":84117,"pct_val":0.11354611298,"balance":3300,"units":"NS","currency":"USD","asset_cat":"EP","issuer_cat":"CORP","inv_country":"US","fair_val_level":"1","payoff_profile":"Long"},{"issuer_name":"KEYCORP","title":"KEYCORP 6.2%/VAR PERP PFD","isin":"US4932678430","value_usd":83589,"pct_val":0.112833387281,"balance":3300,"units":"NS","currency":"USD","asset_cat":"EP","issuer_cat":"CORP","inv_country":"US","fair_val_level":"1","payoff_profile":"Long"},{"issuer_name":"UNUM GROUP","title":"UNUM GROUP 6.25% 06/15/2058 PFD","isin":"US91529Y6014","value_usd":83434.75,"pct_val":0.112625171487,"balance":3500,"units":"NS","currency":"USD","asset_cat":"EP","issuer_cat":"CORP","inv_country":"US","fair_val_level":"1","payoff_profile":"Long"},{"issuer_name":"CAPITAL ONE FINANCIAL CORP","title":"CAPITAL ONE FINANCIAL CORP SER L 4.375% PFD PERP","isin":"US14040H7585","value_usd":82467,"pct_val":0.11131884517,"balance":4900,"units":"NS","currency":"USD","asset_cat":"EP","issuer_cat":"CORP","inv_country":"US","fair_val_level":"1","payoff_profile":"Long"},{"issuer_name":"PACIFICORP","title":"PACIFICORP 7.375%/VAR 09/15/2055","isin":"US695114DF26","value_usd":82364.12,"pct_val":0.111179971647,"balance":81000,"units":"PA","currency":"USD","asset_cat":"DBT","issuer_cat":"CORP","inv_country":"US","fair_val_level":"2","payoff_profile":"Long"},{"issuer_name":"TRUIST FINANCIAL CORP","title":"TRUIST FINL CORP SER O 5.25% PFD PERP","isin":"US89832Q7455","value_usd":82232,"pct_val":0.111001628239,"balance":3800,"units":"NS","currency":"USD","asset_cat":"EP","issuer_cat":"CORP","inv_country":"US","fair_val_level":"1","payoff_profile":"Long"},{"issuer_name":"LIBERTY MUTUAL GROUP INC","title":"LIBERTY MUTUAL GROUP INC 4.3% 02/01/2061 144A","isin":"US53079EBL74","value_usd":80627.98,"pct_val":0.108836426958,"balance":125000,"units":"PA","currency":"USD","asset_cat":"DBT","issuer_cat":"CORP","inv_country":"US","fair_val_level":"2","payoff_profile":"Long"},{"issuer_name":"US BANCORP DEL","title":"US BANCORP DEL SER K 5.5% PFD PERP","isin":"US9029737593","value_usd":80045,"pct_val":0.108049485996,"balance":3500,"units":"NS","currency":"USD","asset_cat":"EP","issuer_cat":"CORP","inv_country":"US","fair_val_level":"1","payoff_profile":"Long"},{"issuer_name":"WELLS FARGO and CO","title":"WELLS FARGO and CO NEW 7.625%/VAR PERP","isin":"US95002YAA10","value_usd":79881.53,"pct_val":0.107828824499,"balance":75000,"units":"PA","currency":"USD","asset_cat":"EP","issuer_cat":"CORP","inv_country":"US","fair_val_level":"2","payoff_profile":"Long"},{"issuer_name":"GOLDMAN SACHS GROUP INC (THE)","title":"GOLDMAN SACHS GROUP INC (THE) 5.3%/VAR PERP","isin":"US38148BAC28","value_usd":79200.98,"pct_val":0.106910177767,"balance":79000,"units":"PA","currency":"USD","asset_cat":"EP","issuer_cat":"CORP","inv_country":"US","fair_val_level":"2","payoff_profile":"Long"},{"issuer_name":"AEGON FUNDING CO LLC","title":"AEGON FDG CO LLC 5.1% 12/15/2049 PFD","isin":"US00775V1044","value_usd":78328.5,"pct_val":0.105732452543,"balance":3950,"units":"NS","currency":"USD","asset_cat":"EP","issuer_cat":"CORP","inv_country":"US","fair_val_level":"1","payoff_profile":"Long"},{"issuer_name":"PARAMOUNT GLOBAL","title":"PARAMOUNT GLOBAL 6.25%/VAR 02/28/2057","isin":"US92553PBC59","value_usd":77870,"pct_val":0.105113542064,"balance":80000,"units":"PA","currency":"USD","asset_cat":"DBT","issuer_cat":"CORP","inv_country":"US","fair_val_level":"2","payoff_profile":"Long"},{"issuer_name":"ALGONQUIN PWR and UTILS CORP","title":"ALGONQUIN PWR and UTILS CORP 19-A 6.2%/VAR PFD 07/01/2079","isin":"US0158578080","value_usd":77129.7,"pct_val":0.104114241239,"balance":3000,"units":"NS","currency":"USD","asset_cat":"EP","issuer_cat":"CORP","inv_country":"CA","fair_val_level":"1","payoff_profile":"Long"},{"issuer_name":"ARES FINANCE CO III LLC","title":"ARES FINANCE CO III LLC 4.125%/VAR 06/30/2051 144A","isin":"US04018VAA17","value_usd":73435.74,"pct_val":0.099127915057,"balance":75000,"units":"PA","currency":"USD","asset_cat":"DBT","issuer_cat":"CORP","inv_country":"US","fair_val_level":"2","payoff_profile":"Long"},{"issuer_name":"COMPASS DIVERSIFIED HOLDINGS","title":"COMPASS DIVERSIFIED HOLDINGS SER C 7.875% PERP PFD","isin":"US20451Q4010","value_usd":73000,"pct_val":0.098539727374,"balance":4000,"units":"NS","currency":"USD","asset_cat":"EP","issuer_cat":"CORP","inv_country":"US","fair_val_level":"1","payoff_profile":"Long"},{"issuer_name":"COMPASS DIVERSIFIED HOLDINGS","title":"COMPASS DIVERSIFIED HOLDINGS VAR PFD","isin":"US20451Q3020","value_usd":73000,"pct_val":0.098539727374,"balance":4000,"units":"NS","currency":"USD","asset_cat":"EP","issuer_cat":"CORP","inv_country":"US","fair_val_level":"1","payoff_profile":"Long"},{"issuer_name":"BROOKFIELD PROPERTY PREFERRED LP","title":"BROOKFIELD PROPERTY PREFERRED LP 6.25% 07/26/81 PFD","isin":"BMG1624R1079","value_usd":72991,"pct_val":0.098527578641,"balance":4700,"units":"NS","currency":"USD","asset_cat":"EP","issuer_cat":"CORP","inv_country":"BM","fair_val_level":"1","payoff_profile":"Long"},{"issuer_name":"REGIONS FINL CORP NEW","title":"REGIONS FINL CORP NEW 5.70%/VAR PFD PERP","isin":"US7591EP7044","value_usd":71250,"pct_val":0.096177473636,"balance":3000,"units":"NS","currency":"USD","asset_cat":"EP","issuer_cat":"CORP","inv_country":"US","fair_val_level":"1","payoff_profile":"Long"},{"issuer_name":"ENBRIDGE INC","title":"ENBRIDGE INC 6%/VAR 01/15/2077","isin":"US29250NAN57","value_usd":68218.89,"pct_val":0.092085901676,"balance":68000,"units":"PA","currency":"USD","asset_cat":"EP","issuer_cat":"CORP","inv_country":"CA","fair_val_level":"2","payoff_profile":"Long"},{"issuer_name":"ATHENE HOLDING LTD","title":"ATHENE HOLDING LTD SER D 4.875% PFD PERP","isin":"US04686J4085","value_usd":68180,"pct_val":0.092033405649,"balance":4000,"units":"NS","currency":"USD","asset_cat":"EP","issuer_cat":"CORP","inv_country":"US","fair_val_level":"1","payoff_profile":"Long"},{"issuer_name":"AIR LEASE CORP","title":"AIR LEASE CORP 6%/VAR PERP","isin":"US00912XBQ60","value_usd":67953.43,"pct_val":0.091727568032,"balance":70000,"units":"PA","currency":"USD","asset_cat":"EP","issuer_cat":"CORP","inv_country":"US","fair_val_level":"2","payoff_profile":"Long"},{"issuer_name":"ENTERPRISE PRODUCTS OPERATING LLC","title":"ENTERPRISE PRODS OPER LLC 5.375%/VAR 02/15/2078","isin":"US29379VBR33","value_usd":66769.93,"pct_val":0.090130009575,"balance":67000,"units":"PA","currency":"USD","asset_cat":"DBT","issuer_cat":"CORP","inv_country":"US","fair_val_level":"2","payoff_profile":"Long"},{"issuer_name":"TELEPHONE and DATA SYSTEMS INC","title":"TELEPHONE and DATA SYSTEMS INC 6% PFD PERP","isin":"US8794337613","value_usd":65940,"pct_val":0.089009720864,"balance":3500,"units":"NS","currency":"USD","asset_cat":"EP","issuer_cat":"CORP","inv_country":"US","fair_val_level":"1","payoff_profile":"Long"},{"issuer_name":"PARTNER RE FIN B LLC","title":"PARTNER RE FIN B LLC T5Y+NA 10/01/2050","isin":"US70213BAC54","value_usd":63165.62,"pct_val":0.085264698277,"balance":67000,"units":"PA","currency":"USD","asset_cat":"DBT","issuer_cat":"CORP","inv_country":"US","fair_val_level":"2","payoff_profile":"Long"},{"issuer_name":"REGIONS FINL CORP NEW","title":"REGIONS FINANCIAL CORP 4.45% PERP PFD","isin":"US7591EP8869","value_usd":63144,"pct_val":0.085235514319,"balance":3600,"units":"NS","currency":"USD","asset_cat":"EP","issuer_cat":"CORP","inv_country":"US","fair_val_level":"1","payoff_profile":"Long"},{"issuer_name":"BRIGHTHOUSE FINANCIAL INC","title":"BRIGHTHOUSE FINANCIAL INC SER B 6.75% PFD PERP","isin":"US10922N5095","value_usd":62900,"pct_val":0.084906148655,"balance":3700,"units":"NS","currency":"USD","asset_cat":"EP","issuer_cat":"CORP","inv_country":"US","fair_val_level":"1","payoff_profile":"Long"},{"issuer_name":"ASSURANT INC","title":"ASSURANT INC 7%/VAR 03/27/2048","isin":"US04621XAK46","value_usd":62872.77,"pct_val":0.084869391987,"balance":61000,"units":"PA","currency":"USD","asset_cat":"DBT","issuer_cat":"CORP","inv_country":"US","fair_val_level":"2","payoff_profile":"Long"},{"issuer_name":"BRIGHTHOUSE FINANCIAL INC","title":"BRIGHTHOUSE FINANCIAL INC 6.6% PFD PERP SER A PAR=25","isin":"US10922N3017","value_usd":62662,"pct_val":0.084584882147,"balance":3800,"units":"NS","currency":"USD","asset_cat":"EP","issuer_cat":"CORP","inv_country":"US","fair_val_level":"1","payoff_profile":"Long"},{"issuer_name":"TRUIST FINANCIAL CORP","title":"TRUIST FINANCIAL CORP 5.125%/VAR PERP","isin":"US89832QAC33","value_usd":59517.47,"pct_val":0.080340209148,"balance":60000,"units":"PA","currency":"USD","asset_cat":"EP","issuer_cat":"CORP","inv_country":"US","fair_val_level":"2","payoff_profile":"Long"},{"issuer_name":"AFFILIATED MANAGERS GROUP INC","title":"AFFILIATED MANAGERS GRP INC 5.875% 03/30/2059 PFD","isin":"US0082528508","value_usd":58212,"pct_val":0.078578008355,"balance":2700,"units":"NS","currency":"USD","asset_cat":"EP","issuer_cat":"CORP","inv_country":"US","fair_val_level":"1","payoff_profile":"Long"},{"issuer_name":"AXIS CAPITAL HOLDINGS LTD","title":"AXIS CAP HLDGS 5.5% PFD PERP","isin":"US05461T3059","value_usd":58072,"pct_val":0.078389028056,"balance":2800,"units":"NS","currency":"USD","asset_cat":"EP","issuer_cat":"CORP","inv_country":"BM","fair_val_level":"1","payoff_profile":"Long"},{"issuer_name":"PUBLIC STORAGE","title":"PUBLIC STORAGE 3.875% PFD PERP","isin":"US74460W5114","value_usd":56772,"pct_val":0.076634210993,"balance":3600,"units":"NS","currency":"USD","asset_cat":"EP","issuer_cat":"CORP","inv_country":"US","fair_val_level":"1","payoff_profile":"Long"},{"issuer_name":"PUBLIC STORAGE","title":"PUBLIC STORAGE SER S 4.1% PFD PERP","isin":"US74460W3960","value_usd":56372,"pct_val":0.076094267281,"balance":3400,"units":"NS","currency":"USD","asset_cat":"EP","issuer_cat":"CORP","inv_country":"US","fair_val_level":"1","payoff_profile":"Long"},{"issuer_name":"PUBLIC STORAGE","title":"PUBLIC STORAGE 3.95% PERP PFD","isin":"US74460W4463","value_usd":56280,"pct_val":0.075970080228,"balance":3500,"units":"NS","currency":"USD","asset_cat":"EP","issuer_cat":"CORP","inv_country":"US","fair_val_level":"1","payoff_profile":"Long"},{"issuer_name":"CMS ENERGY CORP","title":"CMS ENERGY CORP 5.875% PREF 10/15/2078","isin":"US1258968528","value_usd":56184,"pct_val":0.075840493737,"balance":2400,"units":"NS","currency":"USD","asset_cat":"EP","issuer_cat":"CORP","inv_country":"US","fair_val_level":"1","payoff_profile":"Long"},{"issuer_name":"PUBLIC STORAGE","title":"PUBLIC STORAGE 3.9% PFD PERP O","isin":"US74460W4877","value_usd":55510,"pct_val":0.074930688583,"balance":3500,"units":"NS","currency":"USD","asset_cat":"EP","issuer_cat":"CORP","inv_country":"US","fair_val_level":"1","payoff_profile":"Long"},{"issuer_name":"PUBLIC STORAGE","title":"PUBLIC STORAGE SER M 4.125% PFD PERP","isin":"US74460W5379","value_usd":55406.01,"pct_val":0.074790316716,"balance":3300,"units":"NS","currency":"USD","asset_cat":"EP","issuer_cat":"CORP","inv_country":"US","fair_val_level":"1","payoff_profile":"Long"},{"issuer_name":"APOLLO GLOBAL MANAGEMENT, INC","title":"APOLLO GLOBAL MANAGEMENT INC SER A PC 6.75% 07/31/2026","isin":"US03769M3043","value_usd":55361.86,"pct_val":0.074730720429,"balance":800,"units":"NS","currency":"USD","asset_cat":"EP","issuer_cat":"CORP","inv_country":"US","fair_val_level":"2","payoff_profile":"Long"},{"issuer_name":"FORD MOTOR CO","title":"FORD MOTOR CO","isin":"US3453708451","value_usd":55042,"pct_val":0.07429895444,"balance":2600,"units":"NS","currency":"USD","asset_cat":"EP","issuer_cat":"CORP","inv_country":"US","fair_val_level":"1","payoff_profile":"Long"},{"issuer_name":"CAPITAL ONE FINANCIAL CORP","title":"CAPITAL ONE FINANCIAL CORP 4.25% PERP PFD","isin":"US14040H7338","value_usd":54747,"pct_val":0.073900745953,"balance":3300,"units":"NS","currency":"USD","asset_cat":"EP","issuer_cat":"CORP","inv_country":"US","fair_val_level":"1","payoff_profile":"Long"},{"issuer_name":"FORD MOTOR CO","title":"FORD MOTOR CO 6.5% 08/15/2062 PFD","isin":"US3453708113","value_usd":54720,"pct_val":0.073864299752,"balance":2400,"units":"NS","currency":"USD","asset_cat":"EP","issuer_cat":"CORP","inv_country":"US","fair_val_level":"1","payoff_profile":"Long"},{"issuer_name":"PUBLIC STORAGE","title":"PUBLIC STORAGE SER G 5.05% PFD PERP","isin":"US74460W6690","value_usd":54340,"pct_val":0.073351353226,"balance":2600,"units":"NS","currency":"USD","asset_cat":"EP","issuer_cat":"CORP","inv_country":"US","fair_val_level":"1","payoff_profile":"Long"},{"issuer_name":"BRIGHTHOUSE FINANCIAL INC","title":"BRIGHTHOUSE FINANCIAL INC","isin":"US10922N7075","value_usd":53880,"pct_val":0.072730417958,"balance":4000,"units":"NS","currency":"USD","asset_cat":"EP","issuer_cat":"CORP","inv_country":"US","fair_val_level":"1","payoff_profile":"Long"},{"issuer_name":"PRUDENTIAL FINL INC","title":"PRUDENTIAL FINANCIAL INC 4.125% PFD 09/01/2060","isin":"US7443208886","value_usd":53816,"pct_val":0.072644026964,"balance":3100,"units":"NS","currency":"USD","asset_cat":"EP","issuer_cat":"CORP","inv_country":"US","fair_val_level":"1","payoff_profile":"Long"},{"issuer_name":"PUBLIC STORAGE","title":"PUBLIC STORAGE 4% PFD PERP","isin":"US74460W4208","value_usd":53592,"pct_val":0.072341658485,"balance":3300,"units":"NS","currency":"USD","asset_cat":"EP","issuer_cat":"CORP","inv_country":"US","fair_val_level":"1","payoff_profile":"Long"},{"issuer_name":"US BANCORP DEL","title":"US BANCORP DEL SER L 3.75% PFD PERP","isin":"US9029737346","value_usd":53410,"pct_val":0.072095984097,"balance":3500,"units":"NS","currency":"USD","asset_cat":"EP","issuer_cat":"CORP","inv_country":"US","fair_val_level":"1","payoff_profile":"Long"},{"issuer_name":"HUNTINGTON BANCSHARES INC/OH","title":"HUNTINGTON BANCSHARES INC SER H 4.5% PFD PERP","isin":"US4461508230","value_usd":53351,"pct_val":0.072016342399,"balance":3100,"units":"NS","currency":"USD","asset_cat":"EP","issuer_cat":"CORP","inv_country":"US","fair_val_level":"1","payoff_profile":"Long"},{"issuer_name":"BROOKFIELD BRP HOLDINGS CANADA INC","title":"BROOKFIELD BRP HOLDINGS CANADA INC 7.25% PFD PERP","isin":"US11259P3073","value_usd":53109,"pct_val":0.071689676454,"balance":2100,"units":"NS","currency":"USD","asset_cat":"EP","issuer_cat":"CORP","inv_country":"CA","fair_val_level":"1","payoff_profile":"Long"},{"issuer_name":"PG and E CORP","title":"PG and E CORP SER A PC 6% 12/01/2027","isin":"US69331C3060","value_usd":52975,"pct_val":0.07150879531,"balance":1300,"units":"NS","currency":"USD","asset_cat":"EP","issuer_cat":"CORP","inv_country":"US","fair_val_level":"2","payoff_profile":"Long"},{"issuer_name":"STRATEGY INC","title":"STRATEGY INC 8% PC PERP","isin":"US5949728878","value_usd":52272,"pct_val":0.070559844237,"balance":600,"units":"NS","currency":"USD","asset_cat":"EP","issuer_cat":"CORP","inv_country":"US","fair_val_level":"2","payoff_profile":"Long"},{"issuer_name":"AFFILIATED MANAGERS GROUP INC","title":"AFFILIATED MANAGERS GRP INC 4.75% 09/30/2060 PFD","isin":"US0082528433","value_usd":52260,"pct_val":0.070543645926,"balance":3000,"units":"NS","currency":"USD","asset_cat":"EP","issuer_cat":"CORP","inv_country":"US","fair_val_level":"1","payoff_profile":"Long"},{"issuer_name":"US BANCORP DEL","title":"US BANCORP DEL 4.5% PERP PFD","isin":"US9029736686","value_usd":51492,"pct_val":0.069506953999,"balance":2800,"units":"NS","currency":"USD","asset_cat":"EP","issuer_cat":"CORP","inv_country":"US","fair_val_level":"1","payoff_profile":"Long"},{"issuer_name":"M and T BANK CORP","title":"M and T BANK CORP 5.125%/VAR PERP","isin":"US55261FAH73","value_usd":49696.64,"pct_val":0.067083470644,"balance":50000,"units":"PA","currency":"USD","asset_cat":"EP","issuer_cat":"CORP","inv_country":"US","fair_val_level":"2","payoff_profile":"Long"},{"issuer_name":"ASSURANT INC","title":"ASSURANT INC 01/15/2026 5.25% PFD","isin":"US04621X3061","value_usd":49500,"pct_val":0.066818034315,"balance":2500,"units":"NS","currency":"USD","asset_cat":"EP","issuer_cat":"CORP","inv_country":"US","fair_val_level":"1","payoff_profile":"Long"},{"issuer_name":"F and G ANNUITIES and LIFE INC","title":"F and G ANNUITIES and LIFE INC 7.3% 01/15/2065 PFD","isin":"US30190A6091","value_usd":48636,"pct_val":0.065651755898,"balance":2100,"units":"NS","currency":"USD","asset_cat":"EP","issuer_cat":"CORP","inv_country":"US","fair_val_level":"1","payoff_profile":"Long"},{"issuer_name":"BRIGHTHOUSE FINANCIAL INC","title":"BRIGHTHOUSE FINANCIAL INC SER D 0% PFD PERP","isin":"US10922N8891","value_usd":46960,"pct_val":0.063389391746,"balance":4000,"units":"NS","currency":"USD","asset_cat":"EP","issuer_cat":"CORP","inv_country":"US","fair_val_level":"1","payoff_profile":"Long"},{"issuer_name":"CADENCE BANK","title":"BANCORPSOUTH BANK 5.5% PFD PERP","isin":"US12740C2026","value_usd":43000,"pct_val":0.058043949001,"balance":2000,"units":"NS","currency":"USD","asset_cat":"EP","issuer_cat":"CORP","inv_country":"US","fair_val_level":"1","payoff_profile":"Long"},{"issuer_name":"BROOKFIELD RENEWABLE PARTNERS LP","title":"BROOKFIELD RENEWABLE PARTNERS LP 5.25% PFD PERP","isin":"BMG162582313","value_usd":42834.81,"pct_val":0.057820965747,"balance":2395,"units":"NS","currency":"USD","asset_cat":"EP","issuer_cat":"CORP","inv_country":"BM","fair_val_level":"1","payoff_profile":"Long"},{"issuer_name":"ARCH CAPITAL GROUP LTD","title":"ARCH CAPITAL GR 5.45% PFD PERP","isin":"US03939A1079","value_usd":42300,"pct_val":0.057099047506,"balance":2000,"units":"NS","currency":"USD","asset_cat":"EP","issuer_cat":"CORP","inv_country":"BM","fair_val_level":"1","payoff_profile":"Long"},{"issuer_name":"BROOKFIELD FIN INC","title":"BROOKFIELD CORP 4.625% PFD 10/16/2080","isin":"US11271L1026","value_usd":40700,"pct_val":0.054939272659,"balance":2500,"units":"NS","currency":"USD","asset_cat":"EP","issuer_cat":"CORP","inv_country":"CA","fair_val_level":"1","payoff_profile":"Long"},{"issuer_name":"ALLSTATE CORP","title":"ALLSTATE CORP SER I 4.75% PFD PERP","isin":"US0200028126","value_usd":39200,"pct_val":0.052914483741,"balance":2000,"units":"NS","currency":"USD","asset_cat":"EP","issuer_cat":"CORP","inv_country":"US","fair_val_level":"1","payoff_profile":"Long"},{"issuer_name":"SCE TRUST V","title":"SCE TRUST V 5.45%/VAR PFD PERP","isin":"US78409W2017","value_usd":39137.5,"pct_val":0.052830117536,"balance":1550,"units":"NS","currency":"USD","asset_cat":"EP","issuer_cat":"CORP","inv_country":"US","fair_val_level":"1","payoff_profile":"Long"},{"issuer_name":"ARCH CAPITAL GROUP LTD","title":"ARCH CAPITAL GROUP LTD SER G 4.55% PFD PERP","isin":"US03939A4040","value_usd":38508.75,"pct_val":0.051981393514,"balance":2250,"units":"NS","currency":"USD","asset_cat":"EP","issuer_cat":"CORP","inv_country":"BM","fair_val_level":"1","payoff_profile":"Long"},{"issuer_name":"CITIZENS FINANCIAL GRP INC","title":"CITIZENS FINANCIAL GRP INC SER E 5% PFD PERP","isin":"US1746104025","value_usd":38280,"pct_val":0.051672613204,"balance":2000,"units":"NS","currency":"USD","asset_cat":"EP","issuer_cat":"CORP","inv_country":"US","fair_val_level":"1","payoff_profile":"Long"},{"issuer_name":"ENERGY TRANSFER LP","title":"ENERGY TRANSFER LP T5Y+NA 05/15/2054","isin":"US29273VAX82","value_usd":37319.8,"pct_val":0.050376478324,"balance":35000,"units":"PA","currency":"USD","asset_cat":"DBT","issuer_cat":"CORP","inv_country":"US","fair_val_level":"2","payoff_profile":"Long"},{"issuer_name":"PUBLIC STORAGE","title":"PUBLIC STORAGE 5.6% SER H PFD PERP","isin":"US74460W6443","value_usd":34755,"pct_val":0.046914359245,"balance":1500,"units":"NS","currency":"USD","asset_cat":"EP","issuer_cat":"CORP","inv_country":"US","fair_val_level":"1","payoff_profile":"Long"},{"issuer_name":"WESTERN ALLIANCE BANCORPORATN","title":"WESTERN ALLIANCE BANCORPORATN","isin":"US9576384062","value_usd":33210,"pct_val":0.044828826659,"balance":1500,"units":"NS","currency":"USD","asset_cat":"EP","issuer_cat":"CORP","inv_country":"US","fair_val_level":"1","payoff_profile":"Long"},{"issuer_name":"ENTERPRISE PRODUCTS OPERATING LLC","title":"ENTERPRISE PRODS OPER LLC 4.875%/VAR 08/16/2077","isin":"US29379VBM46","value_usd":32921.34,"pct_val":0.044439176279,"balance":33000,"units":"PA","currency":"USD","asset_cat":"DBT","issuer_cat":"CORP","inv_country":"US","fair_val_level":"2","payoff_profile":"Long"},{"issuer_name":"PUBLIC STORAGE","title":"PUBLIC STORAGE 4.7% SER J PFD PERP","isin":"US74460W5940","value_usd":32351,"pct_val":0.043669297538,"balance":1700,"units":"NS","currency":"USD","asset_cat":"EP","issuer_cat":"CORP","inv_country":"US","fair_val_level":"1","payoff_profile":"Long"},{"issuer_name":"SBL HOLDINGS INC","title":"SBL HOLDINGS INC 6.5%/VAR PERP 144A","isin":"US78397DAC20","value_usd":32298.35,"pct_val":0.043598227447,"balance":34000,"units":"PA","currency":"USD","asset_cat":"EP","issuer_cat":"CORP","inv_country":"US","fair_val_level":"2","payoff_profile":"Long"},{"issuer_name":"TELEPHONE and DATA SYSTEMS INC","title":"TELEPHONE and DATA 6.625% PFD PERP","isin":"US8794337878","value_usd":31200,"pct_val":0.042115609508,"balance":1500,"units":"NS","currency":"USD","asset_cat":"EP","issuer_cat":"CORP","inv_country":"US","fair_val_level":"1","payoff_profile":"Long"},{"issuer_name":"BANK OF AMERICA CORPORATION","title":"BANK OF AMERICA CORPORATION 6.625%/VAR PERP","isin":"US06055HAH66","value_usd":31111.32,"pct_val":0.041995903987,"balance":30000,"units":"PA","currency":"USD","asset_cat":"EP","issuer_cat":"CORP","inv_country":"US","fair_val_level":"2","payoff_profile":"Long"},{"issuer_name":"NAVIENT CORP","title":"NAVIENT CORP 6.0% PFD 12/15/2043","isin":"US63938C4050","value_usd":29670,"pct_val":0.040050324811,"balance":1500,"units":"NS","currency":"USD","asset_cat":"EP","issuer_cat":"CORP","inv_country":"US","fair_val_level":"1","payoff_profile":"Long"},{"issuer_name":"PUBLIC STORAGE","title":"PUBLIC STORAGE 4.875% SER I PFD PERP","isin":"US74460W6286","value_usd":29655,"pct_val":0.040030076921,"balance":1500,"units":"NS","currency":"USD","asset_cat":"EP","issuer_cat":"CORP","inv_country":"US","fair_val_level":"1","payoff_profile":"Long"},{"issuer_name":"NORTHERN TRUST CORP","title":"NORTHERN TRUST CORP SER E 4.7% PFD PERP","isin":"US6658598569","value_usd":29340,"pct_val":0.039604871249,"balance":1500,"units":"NS","currency":"USD","asset_cat":"EP","issuer_cat":"CORP","inv_country":"US","fair_val_level":"1","payoff_profile":"Long"},{"issuer_name":"CMS ENERGY CORP","title":"CMS ENERGY CORP SER C 4.2% PFD PERP","isin":"US1258968379","value_usd":28320,"pct_val":0.038228014784,"balance":1600,"units":"NS","currency":"USD","asset_cat":"EP","issuer_cat":"CORP","inv_country":"US","fair_val_level":"1","payoff_profile":"Long"},{"issuer_name":"BRIGHTHOUSE FINANCIAL INC","title":"BRIGHTHOUSE FINANCIAL INC 6.25% PFD 09/15/2058","isin":"US10922N2027","value_usd":27584,"pct_val":0.037234518354,"balance":1600,"units":"NS","currency":"USD","asset_cat":"EP","issuer_cat":"CORP","inv_country":"US","fair_val_level":"1","payoff_profile":"Long"},{"issuer_name":"BROOKFIELD INFRASTRUCTURE FINANCE ULC","title":"BROOKFIELD INFRASTRUCTURE FINANCE ULC 7.25% PFD 05/31/2084","isin":"US11276B2088","value_usd":27489,"pct_val":0.037106281723,"balance":1100,"units":"NS","currency":"USD","asset_cat":"EP","issuer_cat":"CORP","inv_country":"CA","fair_val_level":"1","payoff_profile":"Long"},{"issuer_name":"HUNTINGTON BANCSHARES INC/OH","title":"HUNTINGTON BANCSHARES INC SER C 5.7% PFD PERP","isin":"US4461507810","value_usd":26700,"pct_val":0.036041242752,"balance":1200,"units":"NS","currency":"USD","asset_cat":"EP","issuer_cat":"CORP","inv_country":"US","fair_val_level":"1","payoff_profile":"Long"},{"issuer_name":"BROOKFIELD PROPERTY PARTNERS LP","title":"BROOKFIELD PROPERTY PARTN LP 5.75% PFD PERP","isin":"BMG162491648","value_usd":26125,"pct_val":0.035265073666,"balance":1900,"units":"NS","currency":"USD","asset_cat":"EP","issuer_cat":"CORP","inv_country":"BM","fair_val_level":"1","payoff_profile":"Long"},{"issuer_name":"BROOKFIELD PROPERTY PARTNERS LP","title":"BROOKFIELD PROPERTY PARTN LP 6.5% PERP PFD","isin":"BMG162491499","value_usd":26061,"pct_val":0.035178682672,"balance":1700,"units":"NS","currency":"USD","asset_cat":"EP","issuer_cat":"CORP","inv_country":"BM","fair_val_level":"1","payoff_profile":"Long"},{"issuer_name":"BROOKFIELD PROPERTY PARTNERS LP","title":"BROOKFIELD PROPERTY PARTN LP PFD 6.375% PERP","isin":"BMG162491564","value_usd":25194,"pct_val":0.034008354677,"balance":1700,"units":"NS","currency":"USD","asset_cat":"EP","issuer_cat":"CORP","inv_country":"BM","fair_val_level":"1","payoff_profile":"Long"},{"issuer_name":"RENAISSANCERE HOLDINGS LTD","title":"RENAISSANCERE HLDGS LTD SER G 4.2% PFD PERP","isin":"BMG7498P1279","value_usd":24691.5,"pct_val":0.03333005039,"balance":1550,"units":"NS","currency":"USD","asset_cat":"EP","issuer_cat":"CORP","inv_country":"BM","fair_val_level":"1","payoff_profile":"Long"},{"issuer_name":"AMERICAN HOMES 4 RENT","title":"AMERICAN HOMES 4 RENT SER H 6.25% PERP PFD","isin":"US02665T8687","value_usd":24060,"pct_val":0.032477614255,"balance":1000,"units":"NS","currency":"USD","asset_cat":"EP","issuer_cat":"CORP","inv_country":"US","fair_val_level":"1","payoff_profile":"Long"},{"issuer_name":"STATE STREET CORP","title":"STATECRP 5.35%/VAR PFD PERP","isin":"US8574778556","value_usd":22380,"pct_val":0.030209850666,"balance":1000,"units":"NS","currency":"USD","asset_cat":"EP","issuer_cat":"CORP","inv_country":"US","fair_val_level":"1","payoff_profile":"Long"},{"issuer_name":"ENTERGY LOUISIANA LLC","title":"ENTERGY LA 4.875% PFD 9/1/66","isin":"US29364W1080","value_usd":20680,"pct_val":0.027915089891,"balance":1000,"units":"NS","currency":"USD","asset_cat":"EP","issuer_cat":"CORP","inv_country":"US","fair_val_level":"1","payoff_profile":"Long"},{"issuer_name":"EQUITABLE HOLDINGS INC","title":"EQUITABLE HOLDINGS INC 4.3% PFD PERP","isin":"US29452E4089","value_usd":16170,"pct_val":0.021827224543,"balance":1000,"units":"NS","currency":"USD","asset_cat":"EP","issuer_cat":"CORP","inv_country":"US","fair_val_level":"1","payoff_profile":"Long"},{"issuer_name":"FIFTH THIRD BANCORP","title":"FIFTH THIRD BANCORP SER K 4.95% PFD PERP","isin":"US3167738604","value_usd":15808,"pct_val":0.021338575484,"balance":800,"units":"NS","currency":"USD","asset_cat":"EP","issuer_cat":"CORP","inv_country":"US","fair_val_level":"1","payoff_profile":"Long"},{"issuer_name":"EDISON INTERNATIONAL","title":"EDISON INTERNATIONAL 7.875%/VAR 06/15/2054","isin":"US281020AZ01","value_usd":15600.95,"pct_val":0.02105908712,"balance":15000,"units":"PA","currency":"USD","asset_cat":"DBT","issuer_cat":"CORP","inv_country":"US","fair_val_level":"2","payoff_profile":"Long"},{"issuer_name":"MORGAN STANLEY","title":"MORGAN STANLEY 6.875% PFD PERP","isin":"US61763E2072","value_usd":15186,"pct_val":0.020498963012,"balance":600,"units":"NS","currency":"USD","asset_cat":"EP","issuer_cat":"CORP","inv_country":"US","fair_val_level":"1","payoff_profile":"Long"},{"issuer_name":"WEBSTER FINANCIAL CORP","title":"WEBSTER FINL CORP WATERBURY CT 5.25% PFD PERP F","isin":"US9478905055","value_usd":14613.75,"pct_val":0.01972650604,"balance":750,"units":"NS","currency":"USD","asset_cat":"EP","issuer_cat":"CORP","inv_country":"US","fair_val_level":"1","payoff_profile":"Long"},{"issuer_name":"BROOKFIELD INFRASTRUCTURE PARTNERS LP","title":"BROOKFIELD INFRA PARTNERS LP 5.125% PFD PERP","isin":"USG162522670","value_usd":14074.5,"pct_val":0.018998594423,"balance":825,"units":"NS","currency":"USD","asset_cat":"EP","issuer_cat":"CORP","inv_country":"BM","fair_val_level":"1","payoff_profile":"Long"},{"issuer_name":"BROOKFIELD INFRASTRUCTURE PARTNERS LP","title":"BROOKFIELD INFRA PARTNERS LP CLASS A 5% PFD PERP","isin":"BMG162522756","value_usd":13711.5,"pct_val":0.018508595505,"balance":825,"units":"NS","currency":"USD","asset_cat":"EP","issuer_cat":"CORP","inv_country":"BM","fair_val_level":"1","payoff_profile":"Long"},{"issuer_name":"HARTFORD INSURANCE GROUP INC/THE","title":"HARTFORD INSURANCE GROUP INC/THE","isin":"US4165186036","value_usd":7494,"pct_val":0.010115845437,"balance":300,"units":"NS","currency":"USD","asset_cat":"EP","issuer_cat":"CORP","inv_country":"US","fair_val_level":"1","payoff_profile":"Long"}],"source_documents":[{"label":"SEC NPORT-P Filings","url":"https://www.sec.gov/cgi-bin/browse-edgar?action=getcompany&CIK=945908&type=NPORT&dateb=&owner=exclude&count=40"}],"dataset":{"json":"https://dealcharts.org/llm/facts/fund/fidelity-preferred-securities-and-income-etf.json","page":"https://dealcharts.org/capitalmarkets/funds/fidelity-preferred-securities-and-income-etf/"},"provenance":{"curator":"CMD+RVL","curator_url":"https://cmdrvl.com","platform":"Dealcharts","platform_url":"https://dealcharts.org/","source":"SEC NPORT-P Public Filings","license":"CC-BY 4.0","license_url":"https://creativecommons.org/licenses/by/4.0/","attribution":"Data curated by CMD+RVL from SEC NPORT-P public filings"},"citation":"Fund: Fidelity Preferred Securities and Income ETF | LEI: 549300ECXORNOGQYEX95 | 331 positions totaling $72,729,780 across DBT, EP, STIV | Filing: Thu Jan 22 2026 19:00:00 GMT-0500 (Eastern Standard Time) | Source: SEC NPORT-P via Dealcharts.org","updated_at":"2026-01-23"}