{"entity_type":"fund","name":"PIMCO Preferred and Capital Securities Active Exchange-Traded Fund","identifiers":{"lei":"549300XBG0GWIQBZLV45","cik":"1450011","fund_id":"S000078313","fundkey":"pimco-preferred-and-capital-securities-active-exchange-traded-fund"},"dates":{"reporting_period_start":"2025-12-31","reporting_period_end":"2026-06-30","filing_date":"2026-03-02"},"summary":{"total_positions":215,"total_value_usd":197120751.02,"asset_categories":["DBT","EP","DIR","DCR"],"by_asset_category":{"DBT":{"positions":134,"total_value_usd":128714461.4},"EP":{"positions":61,"total_value_usd":67561113.77},"DIR":{"positions":19,"total_value_usd":316609.86},"DCR":{"positions":1,"total_value_usd":528565.99}}},"holdings":[{"issuer_name":"CITIGROUP INC","title":"CITIGROUP INC JR SUBORDINA 12/99 VAR","isin":"US17327CAV54","value_usd":3916052,"pct_val":1.93697,"balance":3800000,"units":"NS","currency":"USD","asset_cat":"EP","issuer_cat":"CORP","inv_country":"US","fair_val_level":"2","payoff_profile":"Long"},{"issuer_name":"JP MORGAN CHASE & CO","title":"JPMORGAN CHASE + CO JR SUBORDINA 12/99 VAR","isin":"US48128AAJ25","value_usd":3739032,"pct_val":1.84941,"balance":3600000,"units":"NS","currency":"USD","asset_cat":"EP","issuer_cat":"CORP","inv_country":"US","fair_val_level":"2","payoff_profile":"Long"},{"issuer_name":"ROYAL BANK OF CANADA","title":"ROYAL BANK OF CANADA JR SUBORDINA 05/84 VAR","isin":"US780082AR49","value_usd":3611361,"pct_val":1.78626,"balance":3400000,"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 CORP JR SUBORDINA 12/99 VAR","isin":"US060505FL38","value_usd":3454846.04,"pct_val":1.70884,"balance":3418000,"units":"NS","currency":"USD","asset_cat":"EP","issuer_cat":"CORP","inv_country":"US","fair_val_level":"2","payoff_profile":"Long"},{"issuer_name":"WELLS FARGO & COMPANY","title":"WELLS FARGO + COMPANY JR SUBORDINA 12/99 VAR","isin":"US95002YAC75","value_usd":3347296,"pct_val":1.65565,"balance":3200000,"units":"NS","currency":"USD","asset_cat":"EP","issuer_cat":"CORP","inv_country":"US","fair_val_level":"2","payoff_profile":"Long"},{"issuer_name":"GOLDMAN SACHS GROUP INC","title":"GOLDMAN SACHS GROUP INC JR SUBORDINA 12/99 VAR","isin":"US38141GA799","value_usd":2753478,"pct_val":1.36193,"balance":2600000,"units":"NS","currency":"USD","asset_cat":"EP","issuer_cat":"CORP","inv_country":"US","fair_val_level":"2","payoff_profile":"Long"},{"issuer_name":"BARCLAYS PLC","title":"BARCLAYS PLC JR SUBORDINA 12/99 8","isin":"US06738EBX22","value_usd":2570654.4,"pct_val":1.2715,"balance":2400000,"units":"PA","currency":"USD","asset_cat":"DBT","issuer_cat":"CORP","inv_country":"GB","fair_val_level":"2","payoff_profile":"Long"},{"issuer_name":"ENBRIDGE INC","title":"ENBRIDGE INC SUBORDINATED 07/80 VAR","isin":"US29250NBC83","value_usd":2548477.17,"pct_val":1.26053,"balance":2515000,"units":"PA","currency":"USD","asset_cat":"DBT","issuer_cat":"CORP","inv_country":"CA","fair_val_level":"2","payoff_profile":"Long"},{"issuer_name":"LLOYDS BANKING GROUP PLC","title":"LLOYDS BANKING GROUP PLC JR SUBORDINA 12/99 VAR","isin":"US53944YAV56","value_usd":2525775.79,"pct_val":1.2493,"balance":2333000,"units":"PA","currency":"USD","asset_cat":"DBT","issuer_cat":"CORP","inv_country":"GB","fair_val_level":"2","payoff_profile":"Long"},{"issuer_name":"PNC FINANCIAL SERVICES GROUP INC","title":"PNC FINANCIAL SERVICES JR SUBORDINA 12/99 VAR","isin":"US693475BP99","value_usd":2519657.73,"pct_val":1.24628,"balance":2439000,"units":"NS","currency":"USD","asset_cat":"EP","issuer_cat":"CORP","inv_country":"US","fair_val_level":"2","payoff_profile":"Long"},{"issuer_name":"NATWEST GROUP PLC","title":"NATWEST GROUP PLC JR SUBORDINA 12/99 VAR","isin":"US639057AQ15","value_usd":2481613.2,"pct_val":1.22746,"balance":2200000,"units":"PA","currency":"USD","asset_cat":"DBT","issuer_cat":"CORP","inv_country":"GB","fair_val_level":"2","payoff_profile":"Long"},{"issuer_name":"BP CAPITAL MARKETS PLC","title":"BP CAPITAL MARKETS PLC COMPANY GUAR 12/99 VAR","isin":"US05565QDW50","value_usd":2450622.4,"pct_val":1.21213,"balance":2300000,"units":"PA","currency":"USD","asset_cat":"DBT","issuer_cat":"CORP","inv_country":"GB","fair_val_level":"2","payoff_profile":"Long"},{"issuer_name":"BANK OF AMERICA CORPORATION","title":"BANK OF AMERICA CORP JR SUBORDINA 12/99 VAR","isin":"US06055HAH66","value_usd":2396738,"pct_val":1.18548,"balance":2300000,"units":"NS","currency":"USD","asset_cat":"EP","issuer_cat":"CORP","inv_country":"US","fair_val_level":"2","payoff_profile":"Long"},{"issuer_name":"METLIFE CAPITAL TRUST IV","title":"METLIFE CAPITAL TRUST IV JR SUBORDINA 144A 12/67 7.875","isin":"US591560AA57","value_usd":2330223,"pct_val":1.15258,"balance":2100000,"units":"PA","currency":"USD","asset_cat":"DBT","issuer_cat":"CORP","inv_country":"US","fair_val_level":"2","payoff_profile":"Long"},{"issuer_name":"CHARLES SCHWAB CORP/THE","title":"CHARLES SCHWAB CORP JR SUBORDINA 12/99 VAR","isin":"US808513BJ38","value_usd":2183529.28,"pct_val":1.08002,"balance":2336000,"units":"NS","currency":"USD","asset_cat":"EP","issuer_cat":"CORP","inv_country":"US","fair_val_level":"2","payoff_profile":"Long"},{"issuer_name":"BANCO SANTANDER SA","title":"BANCO SANTANDER SA JR SUBORDINA 12/99 VAR","isin":"US05971KAQ22","value_usd":2174639.89,"pct_val":1.07562,"balance":1800000,"units":"PA","currency":"USD","asset_cat":"DBT","issuer_cat":"CORP","inv_country":"ES","fair_val_level":"2","payoff_profile":"Long"},{"issuer_name":"NIPPON LIFE INSURANCE COMPANY","title":"NIPPON LIFE INSURANCE SUBORDINATED 144A 04/55 VAR","isin":"US654579AP63","value_usd":2047086.6,"pct_val":1.01253,"balance":1900000,"units":"PA","currency":"USD","asset_cat":"DBT","issuer_cat":"CORP","inv_country":"JP","fair_val_level":"2","payoff_profile":"Long"},{"issuer_name":"ELECTRICITE DE FRANCE SA (EDF)","title":"ELECTRICITE DE FRANCE SA JR SUBORDINA 144A 12/99 VAR","isin":"US28504KAA51","value_usd":2001214.64,"pct_val":0.989845,"balance":1715000,"units":"PA","currency":"USD","asset_cat":"DBT","issuer_cat":"CORP","inv_country":"FR","fair_val_level":"2","payoff_profile":"Long"},{"issuer_name":"DUKE ENERGY CORPORATION","title":"DUKE ENERGY CORP JR SUBORDINA 09/54 VAR","isin":"US26441CCG87","value_usd":1995186.66,"pct_val":0.986863,"balance":1900000,"units":"PA","currency":"USD","asset_cat":"DBT","issuer_cat":"CORP","inv_country":"US","fair_val_level":"2","payoff_profile":"Long"},{"issuer_name":"BBVA BANCOMER SA/TAXAS BRANCH","title":"BBVA MEX BANCA GRUPO TX SUBORDINATED 144A 01/39 VAR","isin":"US07336UAB98","value_usd":1948478.4,"pct_val":0.96376,"balance":1800000,"units":"PA","currency":"USD","asset_cat":"DBT","issuer_cat":"CORP","inv_country":"MX","fair_val_level":"2","payoff_profile":"Long"},{"issuer_name":"NEXTERA ENERGY CAPITAL HOLDINGS INC","title":"NEXTERA ENERGY CAPITAL COMPANY GUAR 06/54 VAR","isin":"US65339KDB35","value_usd":1922607.92,"pct_val":0.950964,"balance":1800000,"units":"PA","currency":"USD","asset_cat":"DBT","issuer_cat":"CORP","inv_country":"US","fair_val_level":"2","payoff_profile":"Long"},{"issuer_name":"COMMERZBANK AG","title":"COMMERZBANK AG JR SUBORDINA REGS 12/99 VAR","isin":"XS2914160804","value_usd":1893046.5,"pct_val":0.936342,"balance":1800000,"units":"PA","currency":"USD","asset_cat":"DBT","issuer_cat":"CORP","inv_country":"DE","fair_val_level":"2","payoff_profile":"Long"},{"issuer_name":"CANADIAN IMPERIAL BANK OF COMMERCE (CIBC)","title":"CANADIAN IMPERIAL BANK JR SUBORDINA 01/85 VAR","isin":"US13607PNF70","value_usd":1856316.6,"pct_val":0.918175,"balance":1800000,"units":"PA","currency":"USD","asset_cat":"DBT","issuer_cat":"CORP","inv_country":"CA","fair_val_level":"2","payoff_profile":"Long"},{"issuer_name":"ENERGY TRANSFER LP","title":"ENERGY TRANSFER LP JR SUBORDINA 12/99 VAR","isin":"US29273VAM28","value_usd":1846620,"pct_val":0.913379,"balance":1800000,"units":"NS","currency":"USD","asset_cat":"EP","issuer_cat":"CORP","inv_country":"US","fair_val_level":"2","payoff_profile":"Long"},{"issuer_name":"TORONTO-DOMINION BANK","title":"TORONTO DOMINION BANK JR SUBORDINA 10/82 VAR","isin":"US89117F8Z56","value_usd":1823608.2,"pct_val":0.901997,"balance":1728000,"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 JR SUBORDINA 12/99 VAR","isin":"US172967PM70","value_usd":1790831,"pct_val":0.885784,"balance":1700000,"units":"NS","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 COMPANY GUAR 03/82 VAR","isin":"US89356BAG32","value_usd":1721260.67,"pct_val":0.851374,"balance":1736000,"units":"PA","currency":"USD","asset_cat":"DBT","issuer_cat":"CORP","inv_country":"CA","fair_val_level":"2","payoff_profile":"Long"},{"issuer_name":"SEMPRA","title":"SEMPRA JR SUBORDINA 10/54 VAR","isin":"US816851BS71","value_usd":1702143.3,"pct_val":0.841918,"balance":1650000,"units":"PA","currency":"USD","asset_cat":"DBT","issuer_cat":"CORP","inv_country":"US","fair_val_level":"2","payoff_profile":"Long"},{"issuer_name":"VODAFONE GROUP PLC","title":"VODAFONE GROUP PLC JR SUBORDINA 04/79 VAR","isin":"US92857WBQ24","value_usd":1696083.81,"pct_val":0.83892,"balance":1600000,"units":"PA","currency":"USD","asset_cat":"DBT","issuer_cat":"CORP","inv_country":"GB","fair_val_level":"2","payoff_profile":"Long"},{"issuer_name":"DNB BANK ASA","title":"DNB BANK ASA DNB BANK ASA","isin":"XS2831061796","value_usd":1681588,"pct_val":0.83175,"balance":1600000,"units":"PA","currency":"USD","asset_cat":"DBT","issuer_cat":"CORP","inv_country":"NO","fair_val_level":"2","payoff_profile":"Long"},{"issuer_name":"LIBERTY MUTUAL GROUP INC","title":"LIBERTY MUTUAL GROUP INC COMPANY GUAR 144A 12/51 VAR","isin":"US53079EBM57","value_usd":1676628.26,"pct_val":0.829297,"balance":1700000,"units":"PA","currency":"USD","asset_cat":"DBT","issuer_cat":"CORP","inv_country":"US","fair_val_level":"2","payoff_profile":"Long"},{"issuer_name":"CITIGROUP INC","title":"CITIGROUP INC JR SUBORDINA 12/99 VAR","isin":"US172967QJ33","value_usd":1623248,"pct_val":0.802894,"balance":1600000,"units":"NS","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 JR SUBORDINA 12/99 VAR","isin":"US281020AT41","value_usd":1618060,"pct_val":0.820629,"balance":1700000,"units":"NS","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 COMPANY GUAR 09/79 VAR","isin":"US89356BAE83","value_usd":1593904.16,"pct_val":0.78838,"balance":1600000,"units":"PA","currency":"USD","asset_cat":"DBT","issuer_cat":"CORP","inv_country":"CA","fair_val_level":"2","payoff_profile":"Long"},{"issuer_name":"CAPITAL ONE FINANCIAL CORPORATION","title":"CAPITAL ONE FINANCIAL CO JR SUBORDINA 12/99 VAR","isin":"US14040HCF01","value_usd":1581328,"pct_val":0.78216,"balance":1600000,"units":"NS","currency":"USD","asset_cat":"EP","issuer_cat":"CORP","inv_country":"US","fair_val_level":"2","payoff_profile":"Long"},{"issuer_name":"PRUDENTIAL FINANCIAL INC","title":"PRUDENTIAL FINANCIAL INC JR SUBORDINA 09/52 VAR","isin":"US744320BK76","value_usd":1568960.78,"pct_val":0.776043,"balance":1518000,"units":"PA","currency":"USD","asset_cat":"DBT","issuer_cat":"CORP","inv_country":"US","fair_val_level":"2","payoff_profile":"Long"},{"issuer_name":"COMPEER FINANCIAL ACA","title":"COMPEER FINANCIAL ACA JR SUBORDINA 144A 12/99 VAR","isin":"US20453QAC69","value_usd":1546695,"pct_val":0.765029,"balance":1500000,"units":"NS","currency":"USD","asset_cat":"EP","issuer_cat":"CORP","inv_country":"US","fair_val_level":"2","payoff_profile":"Long"},{"issuer_name":"BANCO MERCANTIL DEL NORTE SA/ GRAND CAYMAN BRANCH","title":"BANCO MERCANTIL DE NORTE JR SUBORDINA REGS 12/99 VAR","isin":"USP14008AE91","value_usd":1544008.52,"pct_val":0.763701,"balance":1500000,"units":"PA","currency":"USD","asset_cat":"DBT","issuer_cat":"CORP","inv_country":"MX","fair_val_level":"2","payoff_profile":"Long"},{"issuer_name":"ING GROEP NV","title":"ING GROEP NV JR SUBORDINA REGS 12/49 VAR","isin":"XS2761357594","value_usd":1519915.6,"pct_val":0.751784,"balance":1400000,"units":"PA","currency":"USD","asset_cat":"DBT","issuer_cat":"CORP","inv_country":"NL","fair_val_level":"2","payoff_profile":"Long"},{"issuer_name":"WELLS FARGO & COMPANY","title":"WELLS FARGO + COMPANY JR SUBORDINA 12/99 VAR","isin":"US949746TD35","value_usd":1495830,"pct_val":0.73987,"balance":1500000,"units":"NS","currency":"USD","asset_cat":"EP","issuer_cat":"CORP","inv_country":"US","fair_val_level":"2","payoff_profile":"Long"},{"issuer_name":"BANK OF MONTREAL","title":"BANK OF MONTREAL JR SUBORDINA 05/84 VAR","isin":"US06368LQ586","value_usd":1487435.32,"pct_val":0.735718,"balance":1400000,"units":"PA","currency":"USD","asset_cat":"DBT","issuer_cat":"CORP","inv_country":"CA","fair_val_level":"2","payoff_profile":"Long"},{"issuer_name":"STATE STREET CORPORATION","title":"STATE STREET CORP JR SUBORDINA 12/99 VAR","isin":"US857477CH48","value_usd":1455902,"pct_val":0.720121,"balance":1400000,"units":"NS","currency":"USD","asset_cat":"EP","issuer_cat":"CORP","inv_country":"US","fair_val_level":"2","payoff_profile":"Long"},{"issuer_name":"CMS ENERGY CORPORATION","title":"CMS ENERGY CORP JR SUBORDINA 06/55 VAR","isin":"US125896BY50","value_usd":1440376,"pct_val":0.712442,"balance":1400000,"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 CORP JR SUBORDINA 12/99 VAR","isin":"US060505GB47","value_usd":1420590.22,"pct_val":0.702655,"balance":1433000,"units":"NS","currency":"USD","asset_cat":"EP","issuer_cat":"CORP","inv_country":"US","fair_val_level":"2","payoff_profile":"Long"},{"issuer_name":"AMERICAN EXPRESS COMPANY","title":"AMERICAN EXPRESS CO JR SUBORDINA 12/99 VAR","isin":"US025816CH00","value_usd":1381842,"pct_val":0.683489,"balance":1400000,"units":"NS","currency":"USD","asset_cat":"EP","issuer_cat":"CORP","inv_country":"US","fair_val_level":"2","payoff_profile":"Long"},{"issuer_name":"UBS GROUP AG","title":"UBS GROUP AG JR SUBORDINA REGS 12/99 VAR","isin":"USH42097ER43","value_usd":1290659.7,"pct_val":0.638389,"balance":1100000,"units":"PA","currency":"USD","asset_cat":"DBT","issuer_cat":"CORP","inv_country":"CH","fair_val_level":"2","payoff_profile":"Long"},{"issuer_name":"SEMPRA","title":"SEMPRA JR SUBORDINA 04/55 VAR","isin":"US816851BU28","value_usd":1269656.25,"pct_val":0.628,"balance":1250000,"units":"PA","currency":"USD","asset_cat":"DBT","issuer_cat":"CORP","inv_country":"US","fair_val_level":"2","payoff_profile":"Long"},{"issuer_name":"INTESA SANPAOLO SPA","title":"INTESA SANPAOLO SPA 144A 11/33 VAR","isin":"US46115HBV87","value_usd":1268713.01,"pct_val":0.627533,"balance":1074000,"units":"PA","currency":"USD","asset_cat":"DBT","issuer_cat":"CORP","inv_country":"IT","fair_val_level":"2","payoff_profile":"Long"},{"issuer_name":"NEXTERA ENERGY CAPITAL HOLDINGS INC","title":"NEXTERA ENERGY CAPITAL COMPANY GUAR 09/54 VAR","isin":"US65339KCW80","value_usd":1247615.09,"pct_val":0.617098,"balance":1200000,"units":"PA","currency":"USD","asset_cat":"DBT","issuer_cat":"CORP","inv_country":"US","fair_val_level":"2","payoff_profile":"Long"},{"issuer_name":"DOMINION ENERGY INC","title":"DOMINION ENERGY INC JR SUBORDINA 05/55 VAR","isin":"US25746UDV89","value_usd":1237220.4,"pct_val":0.611957,"balance":1200000,"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 JR SUBORDINA 12/99 VAR","isin":"US21871XAU37","value_usd":1234536,"pct_val":0.610629,"balance":1200000,"units":"NS","currency":"USD","asset_cat":"EP","issuer_cat":"CORP","inv_country":"US","fair_val_level":"2","payoff_profile":"Long"},{"issuer_name":"HSBC HOLDINGS PLC","title":"HSBC HOLDINGS PLC JR SUBORDINA 12/99 VAR","isin":"US404280BP39","value_usd":1228081.2,"pct_val":0.607436,"balance":1200000,"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","title":"GOLDMAN SACHS GROUP INC JR SUBORDINA 12/99 VAR","isin":"US38141GB524","value_usd":1222932,"pct_val":0.604889,"balance":1200000,"units":"NS","currency":"USD","asset_cat":"EP","issuer_cat":"CORP","inv_country":"US","fair_val_level":"2","payoff_profile":"Long"},{"issuer_name":"PNC FINANCIAL SERVICES GROUP INC","title":"PNC FINANCIAL SERVICES JR SUBORDINA 12/99 VAR","isin":"US693475BD69","value_usd":1213308,"pct_val":0.600129,"balance":1200000,"units":"NS","currency":"USD","asset_cat":"EP","issuer_cat":"CORP","inv_country":"US","fair_val_level":"2","payoff_profile":"Long"},{"issuer_name":"COREBRIDGE FINANCIAL INC","title":"COREBRIDGE FINANCIAL INC COREBRIDGE FINANCIAL INC","isin":"US21871XAT63","value_usd":1209842.4,"pct_val":0.598415,"balance":1200000,"units":"PA","currency":"USD","asset_cat":"DBT","issuer_cat":"CORP","inv_country":"US","fair_val_level":"2","payoff_profile":"Long"},{"issuer_name":"WELLS FARGO & COMPANY","title":"WELLS FARGO + COMPANY JR SUBORDINA 12/99 VAR","isin":"US95002YAA10","value_usd":1209511.49,"pct_val":0.598251,"balance":1133000,"units":"NS","currency":"USD","asset_cat":"EP","issuer_cat":"CORP","inv_country":"US","fair_val_level":"2","payoff_profile":"Long"},{"issuer_name":"CMS ENERGY CORPORATION","title":"CMS ENERGY CORP JR SUBORDINA 12/50 VAR","isin":"US125896BV12","value_usd":1199805.88,"pct_val":0.59345,"balance":1300000,"units":"PA","currency":"USD","asset_cat":"DBT","issuer_cat":"CORP","inv_country":"US","fair_val_level":"2","payoff_profile":"Long"},{"issuer_name":"ENBRIDGE INC","title":"ENBRIDGE INC SUBORDINATED 01/83 VAR","isin":"US29250NBP96","value_usd":1198489.6,"pct_val":0.592799,"balance":1100000,"units":"PA","currency":"USD","asset_cat":"DBT","issuer_cat":"CORP","inv_country":"CA","fair_val_level":"2","payoff_profile":"Long"},{"issuer_name":"PRUDENTIAL FINANCIAL INC","title":"PRUDENTIAL FINANCIAL INC JR SUBORDINA 03/52 VAR","isin":"US744320BJ04","value_usd":1190547.78,"pct_val":0.588871,"balance":1200000,"units":"PA","currency":"USD","asset_cat":"DBT","issuer_cat":"CORP","inv_country":"US","fair_val_level":"2","payoff_profile":"Long"},{"issuer_name":"THE BANK OF NOVA SCOTIA","title":"BANK OF NOVA SCOTIA JR SUBORDINA 01/84 VAR","isin":"US0641598V18","value_usd":1182490.1,"pct_val":0.584886,"balance":1100000,"units":"PA","currency":"USD","asset_cat":"DBT","issuer_cat":"CORP","inv_country":"CA","fair_val_level":"2","payoff_profile":"Long"},{"issuer_name":"GLOBAL ATLANTIC (FIN) COMPANY","title":"GLOBAL ATLANTIC COMPANY GUAR 144A 10/51 VAR","isin":"US37959GAC15","value_usd":1182312.82,"pct_val":0.599631,"balance":1200000,"units":"PA","currency":"USD","asset_cat":"DBT","issuer_cat":"CORP","inv_country":"US","fair_val_level":"2","payoff_profile":"Long"},{"issuer_name":"ALLSTATE CORP","title":"ALLSTATE CORP SUBORDINATED 08/53 VAR","isin":"US020002BB69","value_usd":1150656.2,"pct_val":0.56914,"balance":1146000,"units":"PA","currency":"USD","asset_cat":"DBT","issuer_cat":"CORP","inv_country":"US","fair_val_level":"2","payoff_profile":"Long"},{"issuer_name":"ENERGY TRANSFER LP","title":"ENERGY TRANSFER LP JR SUBORDINA 12/99 VAR","isin":"US29273VAJ98","value_usd":1142458.86,"pct_val":0.565085,"balance":1146000,"units":"NS","currency":"USD","asset_cat":"EP","issuer_cat":"CORP","inv_country":"US","fair_val_level":"2","payoff_profile":"Long"},{"issuer_name":"BARCLAYS PLC","title":"BARCLAYS PLC JR SUBORDINA 12/99 VAR","isin":"US06738ECN31","value_usd":1137011,"pct_val":0.562391,"balance":1000000,"units":"PA","currency":"USD","asset_cat":"DBT","issuer_cat":"CORP","inv_country":"GB","fair_val_level":"2","payoff_profile":"Long"},{"issuer_name":"BNP PARIBAS","title":"BNP PARIBAS JR SUBORDINA 144A 12/99 VAR","isin":"US05602XDJ46","value_usd":1083291,"pct_val":0.53582,"balance":1000000,"units":"PA","currency":"USD","asset_cat":"DBT","issuer_cat":"CORP","inv_country":"FR","fair_val_level":"2","payoff_profile":"Long"},{"issuer_name":"UBS GROUP AG","title":"UBS GROUP AG JR SUBORDINA 144A 12/99 VAR","isin":"US902613BK35","value_usd":1082247,"pct_val":0.535303,"balance":1000000,"units":"PA","currency":"USD","asset_cat":"DBT","issuer_cat":"CORP","inv_country":"CH","fair_val_level":"2","payoff_profile":"Long"},{"issuer_name":"BANCO BILBAO VIZCAYA ARGENTARIA SA (BBVA)","title":"BANCO BILBAO VIZCAYA ARG JR SUBORDINA 12/99 VAR","isin":"US05946KAS06","value_usd":1073929,"pct_val":0.531189,"balance":1000000,"units":"PA","currency":"USD","asset_cat":"DBT","issuer_cat":"CORP","inv_country":"ES","fair_val_level":"2","payoff_profile":"Long"},{"issuer_name":"COREBRIDGE FINANCIAL INC","title":"COREBRIDGE FINANCIAL INC JR SUBORDINA 12/52 VAR","isin":"US21871XAP42","value_usd":1068584.06,"pct_val":0.528545,"balance":1043000,"units":"PA","currency":"USD","asset_cat":"DBT","issuer_cat":"CORP","inv_country":"US","fair_val_level":"2","payoff_profile":"Long"},{"issuer_name":"AIRCASTLE LIMITED","title":"AIRCASTLE LTD JR SUBORDINA 144A 12/99 VAR","isin":"US00928QAW15","value_usd":1066319.73,"pct_val":0.540803,"balance":1071000,"units":"NS","currency":"USD","asset_cat":"EP","issuer_cat":"CORP","inv_country":"BM","fair_val_level":"2","payoff_profile":"Long"},{"issuer_name":"NIPPON LIFE INSURANCE COMPANY","title":"NIPPON LIFE INSURANCE SUBORDINATED 144A 09/53 VAR","isin":"US654579AM33","value_usd":1060509.95,"pct_val":0.524552,"balance":1000000,"units":"PA","currency":"USD","asset_cat":"DBT","issuer_cat":"CORP","inv_country":"JP","fair_val_level":"2","payoff_profile":"Long"},{"issuer_name":"EQUITABLE HOLDINGS INC","title":"EQUITABLE HOLDINGS INC JR SUBORDINA 03/55 VAR","isin":"US29452EAD31","value_usd":1046664,"pct_val":0.517703,"balance":1000000,"units":"PA","currency":"USD","asset_cat":"DBT","issuer_cat":"CORP","inv_country":"US","fair_val_level":"2","payoff_profile":"Long"},{"issuer_name":"ING GROEP NV","title":"ING GROEP NV JR SUBORDINA 12/99 VAR","isin":"US456837BT90","value_usd":1043662,"pct_val":0.516218,"balance":1000000,"units":"PA","currency":"USD","asset_cat":"DBT","issuer_cat":"CORP","inv_country":"NL","fair_val_level":"2","payoff_profile":"Long"},{"issuer_name":"HSBC HOLDINGS PLC","title":"HSBC HOLDINGS PLC JR SUBORDINA 12/99 VAR","isin":"US404280FA24","value_usd":1042471,"pct_val":0.515629,"balance":1000000,"units":"PA","currency":"USD","asset_cat":"DBT","issuer_cat":"CORP","inv_country":"GB","fair_val_level":"2","payoff_profile":"Long"},{"issuer_name":"THE BANK OF NOVA SCOTIA","title":"BANK OF NOVA SCOTIA JR SUBORDINA 04/85 VAR","isin":"US0641598X73","value_usd":1040632,"pct_val":0.51472,"balance":1000000,"units":"PA","currency":"USD","asset_cat":"DBT","issuer_cat":"CORP","inv_country":"CA","fair_val_level":"2","payoff_profile":"Long"},{"issuer_name":"BNP PARIBAS","title":"BNP PARIBAS JR SUBORDINA 144A 12/99 VAR","isin":"US05565AS207","value_usd":1037637.91,"pct_val":0.513239,"balance":969000,"units":"PA","currency":"USD","asset_cat":"DBT","issuer_cat":"CORP","inv_country":"FR","fair_val_level":"2","payoff_profile":"Long"},{"issuer_name":"VODAFONE GROUP PLC","title":"VODAFONE GROUP PLC JR SUBORDINA 06/81 VAR","isin":"US92857WBX74","value_usd":1021001.18,"pct_val":0.50501,"balance":1300000,"units":"PA","currency":"USD","asset_cat":"DBT","issuer_cat":"CORP","inv_country":"GB","fair_val_level":"2","payoff_profile":"Long"},{"issuer_name":"AMERICAN NATIONAL GROUP INC","title":"AMERICAN NATIONAL GROUP JR SUBORDINA 12/55 VAR","isin":"US025676AR82","value_usd":1005456,"pct_val":0.497321,"balance":1000000,"units":"PA","currency":"USD","asset_cat":"DBT","issuer_cat":"CORP","inv_country":"US","fair_val_level":"2","payoff_profile":"Long"},{"issuer_name":"HUNTINGTON BANCSHARES INCORPORATED","title":"HUNTINGTON BANCSHARES JR SUBORDINA 12/99 VAR","isin":"US446150BG87","value_usd":1001790,"pct_val":0.495507,"balance":1000000,"units":"NS","currency":"USD","asset_cat":"EP","issuer_cat":"CORP","inv_country":"US","fair_val_level":"2","payoff_profile":"Long"},{"issuer_name":"SVENSKA HANDELSBANKEN AB","title":"SVENSKA HANDELSBANKEN AB JR SUBORDINA REGS 12/99 VAR","isin":"XS2233263404","value_usd":991113.09,"pct_val":0.490226,"balance":1000000,"units":"PA","currency":"USD","asset_cat":"DBT","issuer_cat":"CORP","inv_country":"SE","fair_val_level":"2","payoff_profile":"Long"},{"issuer_name":"GOLDMAN SACHS GROUP INC","title":"GOLDMAN SACHS GROUP INC JR SUBORDINA 12/99 VAR","isin":"US38144GAG64","value_usd":986640,"pct_val":0.488014,"balance":1000000,"units":"NS","currency":"USD","asset_cat":"EP","issuer_cat":"CORP","inv_country":"US","fair_val_level":"2","payoff_profile":"Long"},{"issuer_name":"VOYA FINANCIAL INC","title":"VOYA FINANCIAL INC JR SUBORDINA 12/99 VAR","isin":"US929089AG55","value_usd":977891.5,"pct_val":0.483687,"balance":925000,"units":"NS","currency":"USD","asset_cat":"EP","issuer_cat":"CORP","inv_country":"US","fair_val_level":"2","payoff_profile":"Long"},{"issuer_name":"CENTERPOINT ENERGY INC","title":"CENTERPOINT ENERGY INC JR SUBORDINA 02/55 VAR","isin":"US15189TBJ51","value_usd":966006,"pct_val":0.477808,"balance":900000,"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 JR SUBORDINA REGS 12/99 VAR","isin":"USF1067PAD80","value_usd":963750.38,"pct_val":0.476692,"balance":900000,"units":"PA","currency":"USD","asset_cat":"DBT","issuer_cat":"CORP","inv_country":"FR","fair_val_level":"2","payoff_profile":"Long"},{"issuer_name":"DEUTSCHE BANK AKTIENGESELLSCHAFT","title":"DEUTSCHE BANK AG JR SUBORDINA REGS 12/99 VAR","isin":"DE000A460DG7","value_usd":960723.64,"pct_val":0.475195,"balance":800000,"units":"PA","currency":null,"asset_cat":"DBT","issuer_cat":"CORP","inv_country":"DE","fair_val_level":"2","payoff_profile":"Long"},{"issuer_name":"COOPERATIEVE RABOBANK UA (AKA: RABOBANK NEDERLAND)","title":"COOPERATIEVE RABOBANK UA JR SUBORDINA REGS 12/99 VAR","isin":"XS2456432413","value_usd":952466.45,"pct_val":0.471111,"balance":800000,"units":"PA","currency":null,"asset_cat":"DBT","issuer_cat":"CORP","inv_country":"NL","fair_val_level":"2","payoff_profile":"Long"},{"issuer_name":"SVENSKA HANDELSBANKEN AB","title":"SVENSKA HANDELSBANKEN AB JR SUBORDINA REGS 12/99 VAR","isin":"XS2233263586","value_usd":952362.6,"pct_val":0.47106,"balance":1000000,"units":"PA","currency":"USD","asset_cat":"DBT","issuer_cat":"CORP","inv_country":"SE","fair_val_level":"2","payoff_profile":"Long"},{"issuer_name":"PRUDENTIAL FINANCIAL INC","title":"PRUDENTIAL FINANCIAL INC JR SUBORDINA 03/54 VAR","isin":"US744320BP63","value_usd":951731.57,"pct_val":0.470747,"balance":900000,"units":"PA","currency":"USD","asset_cat":"DBT","issuer_cat":"CORP","inv_country":"US","fair_val_level":"2","payoff_profile":"Long"},{"issuer_name":"JP MORGAN CHASE & CO","title":"JPMORGAN CHASE + CO JR SUBORDINA 12/99 VAR","isin":"US48128BAQ41","value_usd":950706,"pct_val":0.47024,"balance":900000,"units":"NS","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 PREFERRED STOCK 6.625","isin":"US61762V8384","value_usd":940680,"pct_val":0.465281,"balance":36000,"units":"NS","currency":"USD","asset_cat":"EP","issuer_cat":"CORP","inv_country":"US","fair_val_level":"1","payoff_profile":"Long"},{"issuer_name":"CANADIAN IMPERIAL BANK OF COMMERCE (CIBC)","title":"CANADIAN IMPERIAL BANK JR SUBORDINA 10/85 VAR","isin":"US13607P7Y41","value_usd":940573.8,"pct_val":0.465228,"balance":900000,"units":"PA","currency":"USD","asset_cat":"DBT","issuer_cat":"CORP","inv_country":"CA","fair_val_level":"2","payoff_profile":"Long"},{"issuer_name":"LLOYDS BANKING GROUP PLC","title":"LLOYDS BANKING GROUP PLC JR SUBORDINA 12/99 VAR","isin":"US53944YBB83","value_usd":935820.9,"pct_val":0.462878,"balance":900000,"units":"PA","currency":"USD","asset_cat":"DBT","issuer_cat":"CORP","inv_country":"GB","fair_val_level":"2","payoff_profile":"Long"},{"issuer_name":"REINSURANCE GROUP OF AMERICA INCORPORATED","title":"REINSURANCE GRP OF AMER SUBORDINATED 09/55 VAR","isin":"US759351AT60","value_usd":933441.3,"pct_val":0.461701,"balance":900000,"units":"PA","currency":"USD","asset_cat":"DBT","issuer_cat":"CORP","inv_country":"US","fair_val_level":"2","payoff_profile":"Long"},{"issuer_name":"BANCO SANTANDER SA","title":"BANCO SANTANDER SA JR SUBORDINA 12/99 VAR","isin":"US05971KAP49","value_usd":887344.8,"pct_val":0.4389,"balance":800000,"units":"PA","currency":"USD","asset_cat":"DBT","issuer_cat":"CORP","inv_country":"ES","fair_val_level":"2","payoff_profile":"Long"},{"issuer_name":"STANDARD CHARTERED PLC","title":"STANDARD CHARTERED PLC JR SUBORDINA 144A 12/99 VAR","isin":"US853254DA59","value_usd":857272,"pct_val":0.424026,"balance":800000,"units":"PA","currency":"USD","asset_cat":"DBT","issuer_cat":"CORP","inv_country":"GB","fair_val_level":"2","payoff_profile":"Long"},{"issuer_name":"NATWEST GROUP PLC","title":"NATWEST GROUP PLC JR SUBORDINA 12/99 VAR","isin":"US639057AT53","value_usd":849091.2,"pct_val":0.419979,"balance":800000,"units":"PA","currency":"USD","asset_cat":"DBT","issuer_cat":"CORP","inv_country":"GB","fair_val_level":"2","payoff_profile":"Long"},{"issuer_name":"THE DAI-ICHI LIFE INSURANCE COMPANY LIMITED","title":"DAI ICHI LIFE INSURANCE SUBORDINATED 144A 12/99 VAR","isin":"US23381LAA26","value_usd":838935.2,"pct_val":0.414956,"balance":800000,"units":"PA","currency":"USD","asset_cat":"DBT","issuer_cat":"CORP","inv_country":"JP","fair_val_level":"2","payoff_profile":"Long"},{"issuer_name":"NISOURCE INC","title":"NISOURCE INC JR SUBORDINA 11/54 VAR","isin":"US65473PAR64","value_usd":836861.6,"pct_val":0.41393,"balance":800000,"units":"PA","currency":"USD","asset_cat":"DBT","issuer_cat":"CORP","inv_country":"US","fair_val_level":"2","payoff_profile":"Long"},{"issuer_name":"EVERGY INC","title":"EVERGY INC JR SUBORDINA 06/55 VAR","isin":"US30034WAE66","value_usd":831799.53,"pct_val":0.411426,"balance":810000,"units":"PA","currency":"USD","asset_cat":"DBT","issuer_cat":"CORP","inv_country":"US","fair_val_level":"2","payoff_profile":"Long"},{"issuer_name":"NOMURA HOLDINGS INC","title":"NOMURA HOLDINGS INC JR SUBORDINA 12/99 VAR","isin":"US65535HCC16","value_usd":824646.4,"pct_val":0.407888,"balance":800000,"units":"PA","currency":"USD","asset_cat":"DBT","issuer_cat":"CORP","inv_country":"JP","fair_val_level":"2","payoff_profile":"Long"},{"issuer_name":"UBS GROUP AG","title":"UBS GROUP AG JR SUBORDINA 144A 12/99 VAR","isin":"US902613BN73","value_usd":821259.2,"pct_val":0.406213,"balance":800000,"units":"PA","currency":"USD","asset_cat":"DBT","issuer_cat":"CORP","inv_country":"CH","fair_val_level":"2","payoff_profile":"Long"},{"issuer_name":"WELLS FARGO & COMPANY","title":"WELLS FARGO + COMPANY PREFERRED STOCK 4.75","isin":"US94988U1512","value_usd":804937,"pct_val":0.39814,"balance":41300,"units":"NS","currency":"USD","asset_cat":"EP","issuer_cat":"CORP","inv_country":"US","fair_val_level":"1","payoff_profile":"Long"},{"issuer_name":"JP MORGAN CHASE & CO","title":"JPMORGAN CHASE + CO PREFERRED STOCK 4.625","isin":"US48128B5497","value_usd":795420,"pct_val":0.393432,"balance":40500,"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 COMPANY INC","title":"AMERICAN ELECTRIC POWER JR SUBORDINA 12/54 VAR","isin":"US025537BA89","value_usd":753086.6,"pct_val":0.372493,"balance":700000,"units":"PA","currency":"USD","asset_cat":"DBT","issuer_cat":"CORP","inv_country":"US","fair_val_level":"2","payoff_profile":"Long"},{"issuer_name":"ENBRIDGE INC","title":"ENBRIDGE INC SUBORDINATED 01/84 VAR","isin":"US29250NBS36","value_usd":749522.2,"pct_val":0.37073,"balance":700000,"units":"PA","currency":"USD","asset_cat":"DBT","issuer_cat":"CORP","inv_country":"CA","fair_val_level":"2","payoff_profile":"Long"},{"issuer_name":"STATE STREET CORPORATION","title":"STATE STREET CORP JR SUBORDINA 12/99 VAR","isin":"US857477CM33","value_usd":732977,"pct_val":0.362547,"balance":700000,"units":"NS","currency":"USD","asset_cat":"EP","issuer_cat":"CORP","inv_country":"US","fair_val_level":"2","payoff_profile":"Long"},{"issuer_name":"NIPPON LIFE INSURANCE COMPANY","title":"NIPPON LIFE INSURANCE SUBORDINATED 144A 04/54 VAR","isin":"US654579AN16","value_usd":729290.79,"pct_val":0.360723,"balance":700000,"units":"PA","currency":"USD","asset_cat":"DBT","issuer_cat":"CORP","inv_country":"JP","fair_val_level":"2","payoff_profile":"Long"},{"issuer_name":"GOLDMAN SACHS GROUP INC","title":"GOLDMAN SACHS GROUP INC JR SUBORDINA 12/99 VAR","isin":"US38141GC282","value_usd":728497,"pct_val":0.360331,"balance":700000,"units":"NS","currency":"USD","asset_cat":"EP","issuer_cat":"CORP","inv_country":"US","fair_val_level":"2","payoff_profile":"Long"},{"issuer_name":"BURFORD CAPITAL GLOBAL FINANCE LLC","title":"BURFORD CAPITAL GLBL FIN COMPANY GUAR 144A 07/31 9.25","isin":"US12116LAE92","value_usd":716445.62,"pct_val":0.35437,"balance":695000,"units":"PA","currency":"USD","asset_cat":"DBT","issuer_cat":"CORP","inv_country":"US","fair_val_level":"2","payoff_profile":"Long"},{"issuer_name":"METLIFE INC","title":"METLIFE INC JR SUBORDINA 12/99 VAR","isin":"US59156RBT41","value_usd":712495,"pct_val":0.352416,"balance":700000,"units":"NS","currency":"USD","asset_cat":"EP","issuer_cat":"CORP","inv_country":"US","fair_val_level":"2","payoff_profile":"Long"},{"issuer_name":"SIERRA PACIFIC POWER COMPANY","title":"SIERRA PACIFIC POWER CO JR SUBORDINA 12/55 VAR","isin":"US826418BR51","value_usd":694117.83,"pct_val":0.343326,"balance":700000,"units":"PA","currency":"USD","asset_cat":"DBT","issuer_cat":"CORP","inv_country":"US","fair_val_level":"2","payoff_profile":"Long"},{"issuer_name":"US BANCORP","title":"US BANCORP JR SUBORDINA 12/99 VAR","isin":"US902973AZ90","value_usd":690621.28,"pct_val":0.341597,"balance":688000,"units":"NS","currency":"USD","asset_cat":"EP","issuer_cat":"CORP","inv_country":"US","fair_val_level":"2","payoff_profile":"Long"},{"issuer_name":"AMERICAN ELECTRIC POWER COMPANY INC","title":"AMERICAN ELECTRIC POWER JR SUBORDINA 03/56 VAR","isin":"US02557TAF66","value_usd":688110.47,"pct_val":0.340355,"balance":700000,"units":"PA","currency":"USD","asset_cat":"DBT","issuer_cat":"CORP","inv_country":"US","fair_val_level":"2","payoff_profile":"Long"},{"issuer_name":"ALLY FINANCIAL INC","title":"ALLY FINANCIAL INC JR SUBORDINA 12/99 VAR","isin":"US02005NBN93","value_usd":681109.32,"pct_val":0.336892,"balance":716000,"units":"NS","currency":"USD","asset_cat":"EP","issuer_cat":"CORP","inv_country":"US","fair_val_level":"2","payoff_profile":"Long"},{"issuer_name":"SOCIETE GENERALE","title":"SOCIETE GENERALE JR SUBORDINA 144A 12/99 VAR","isin":"US83371GAA94","value_usd":667353.6,"pct_val":0.330088,"balance":600000,"units":"PA","currency":"USD","asset_cat":"DBT","issuer_cat":"CORP","inv_country":"FR","fair_val_level":"2","payoff_profile":"Long"},{"issuer_name":"BANCO SANTANDER SA","title":"BANCO SANTANDER SA BANCO SANTANDER SA","isin":"US05964HBH75","value_usd":664167.6,"pct_val":0.328512,"balance":600000,"units":"PA","currency":"USD","asset_cat":"DBT","issuer_cat":"CORP","inv_country":"ES","fair_val_level":"2","payoff_profile":"Long"},{"issuer_name":"TRUIST FINANCIAL CORPORATION","title":"TRUIST FINANCIAL CORP JR SUBORDINA 12/99 VAR","isin":"US89832QAF63","value_usd":652918.32,"pct_val":0.322948,"balance":648000,"units":"NS","currency":"USD","asset_cat":"EP","issuer_cat":"CORP","inv_country":"US","fair_val_level":"2","payoff_profile":"Long"},{"issuer_name":"GOLDMAN SACHS GROUP INC","title":"GOLDMAN SACHS GROUP INC JR SUBORDINA 12/99 VAR","isin":"US38144GAC50","value_usd":650968.5,"pct_val":0.321983,"balance":650000,"units":"NS","currency":"USD","asset_cat":"EP","issuer_cat":"CORP","inv_country":"US","fair_val_level":"2","payoff_profile":"Long"},{"issuer_name":"AERCAP IRELAND CAPITAL DAC / AERCAP GLOBAL AVIATION TRUST","title":"AERCAP IRELAND CAP/GLOBA COMPANY GUAR 03/55 VAR","isin":"US00774MBK09","value_usd":629423.25,"pct_val":0.311327,"balance":600000,"units":"PA","currency":"USD","asset_cat":"DBT","issuer_cat":"CORP","inv_country":"IE","fair_val_level":"2","payoff_profile":"Long"},{"issuer_name":"EXELON CORPORATION","title":"EXELON CORP JR SUBORDINA 03/55 VAR","isin":"US30161NBQ34","value_usd":624724.82,"pct_val":0.309003,"balance":600000,"units":"PA","currency":"USD","asset_cat":"DBT","issuer_cat":"CORP","inv_country":"US","fair_val_level":"2","payoff_profile":"Long"},{"issuer_name":"AES CORPORATION","title":"AES CORP/THE AES CORP/THE","isin":"US00130HCK95","value_usd":622848.6,"pct_val":0.315889,"balance":600000,"units":"PA","currency":"USD","asset_cat":"DBT","issuer_cat":"CORP","inv_country":"US","fair_val_level":"2","payoff_profile":"Long"},{"issuer_name":"BP CAPITAL MARKETS PLC","title":"BP CAPITAL MARKETS PLC COMPANY GUAR 12/99 VAR","isin":"US05565QDX34","value_usd":619072.8,"pct_val":0.306207,"balance":600000,"units":"PA","currency":"USD","asset_cat":"DBT","issuer_cat":"CORP","inv_country":"GB","fair_val_level":"2","payoff_profile":"Long"},{"issuer_name":"FARM CREDIT BANK OF TEXAS","title":"FARM CREDIT BK OF TEXAS JR SUBORDINA 12/99 VAR","isin":"US30767EAF60","value_usd":619008,"pct_val":0.306175,"balance":600000,"units":"NS","currency":"USD","asset_cat":"EP","issuer_cat":"USGSE","inv_country":"US","fair_val_level":"2","payoff_profile":"Long"},{"issuer_name":"AES CORPORATION","title":"AES CORP/THE JR SUBORDINA 07/55 VAR","isin":"US00130HCL78","value_usd":594959.4,"pct_val":0.29428,"balance":600000,"units":"PA","currency":"USD","asset_cat":"DBT","issuer_cat":"CORP","inv_country":"US","fair_val_level":"2","payoff_profile":"Long"},{"issuer_name":"AT&T INC","title":"AT+T INC PREFERRED STOCK 4.75","isin":"US00206R7061","value_usd":583914,"pct_val":0.288817,"balance":30700,"units":"NS","currency":"USD","asset_cat":"EP","issuer_cat":"CORP","inv_country":"US","fair_val_level":"1","payoff_profile":"Long"},{"issuer_name":"GLOBAL ATLANTIC (FIN) COMPANY","title":"GLOBAL ATLANTIC FIN CO COMPANY GUAR 144A 10/54 VAR","isin":"US37959GAG29","value_usd":570933.55,"pct_val":0.282396,"balance":550000,"units":"PA","currency":"USD","asset_cat":"DBT","issuer_cat":"CORP","inv_country":"US","fair_val_level":"2","payoff_profile":"Long"},{"issuer_name":"VENTURE GLOBAL LNG INC","title":"VENTURE GLOBAL LNG INC JR SUBORDINA 144A 12/99 VAR","isin":"US92332YAF88","value_usd":554967,"pct_val":0.274499,"balance":700000,"units":"NS","currency":"USD","asset_cat":"EP","issuer_cat":"CORP","inv_country":"US","fair_val_level":"2","payoff_profile":"Long"},{"issuer_name":"UBS GROUP AG","title":"UBS GROUP AG JR SUBORDINA 144A 12/99 VAR","isin":"US902613BF40","value_usd":550099.5,"pct_val":0.272091,"balance":500000,"units":"PA","currency":"USD","asset_cat":"DBT","issuer_cat":"CORP","inv_country":"CH","fair_val_level":"2","payoff_profile":"Long"},{"issuer_name":"DOMINION ENERGY INC","title":"DOMINION ENERGY INC JR SUBORDINA 06/54 VAR","isin":"US25746UDU07","value_usd":543300.5,"pct_val":0.268728,"balance":500000,"units":"PA","currency":"USD","asset_cat":"DBT","issuer_cat":"CORP","inv_country":"US","fair_val_level":"2","payoff_profile":"Long"},{"issuer_name":"THE BANK OF NOVA SCOTIA","title":"BANK OF NOVA SCOTIA JR SUBORDINA 10/82 VAR","isin":"US0641598S88","value_usd":531367.53,"pct_val":0.262826,"balance":500000,"units":"PA","currency":"USD","asset_cat":"DBT","issuer_cat":"CORP","inv_country":"CA","fair_val_level":"2","payoff_profile":"Long"},{"issuer_name":"N/A","title":"CDX HY45 5Y ICE","isin":"EZ6VZBKT52J6","value_usd":528565.99,"pct_val":0.26144,"balance":1,"units":"NC","currency":"USD","asset_cat":"DCR","issuer_cat":null,"inv_country":"US","fair_val_level":"2","payoff_profile":"N/A"},{"issuer_name":"METLIFE INC","title":"METLIFE INC SUBORDINATED 03/55 VAR","isin":"US59156RCQ92","value_usd":527565,"pct_val":0.260945,"balance":500000,"units":"PA","currency":"USD","asset_cat":"DBT","issuer_cat":"CORP","inv_country":"US","fair_val_level":"2","payoff_profile":"Long"},{"issuer_name":"BBVA BANCOMER SA/TAXAS BRANCH","title":"BBVA MEX BANCA GRUPO TX SUBORDINATED 144A 02/35 VAR","isin":"US072912AA61","value_usd":526250,"pct_val":0.260295,"balance":500000,"units":"PA","currency":"USD","asset_cat":"DBT","issuer_cat":"CORP","inv_country":"MX","fair_val_level":"2","payoff_profile":"Long"},{"issuer_name":"FARM CREDIT BANK OF TEXAS","title":"FARM CREDIT BK OF TEXAS JR SUBORDINA 12/99 VAR","isin":"US30767EAE95","value_usd":524655,"pct_val":0.259506,"balance":500000,"units":"NS","currency":"USD","asset_cat":"EP","issuer_cat":"USGSE","inv_country":"US","fair_val_level":"2","payoff_profile":"Long"},{"issuer_name":"SWISS RE SUBORDINATED FINANCE PLC","title":"SWISS RE SUB FIN PLC COMPANY GUAR 144A 04/35 VAR","isin":"US87088QAA22","value_usd":520503.28,"pct_val":0.257452,"balance":500000,"units":"PA","currency":"USD","asset_cat":"DBT","issuer_cat":"CORP","inv_country":"GB","fair_val_level":"2","payoff_profile":"Long"},{"issuer_name":"ROYAL BANK OF CANADA","title":"ROYAL BANK OF CANADA JR SUBORDINA 08/85 VAR","isin":"US780082AV50","value_usd":519774,"pct_val":0.257092,"balance":500000,"units":"PA","currency":"USD","asset_cat":"DBT","issuer_cat":"CORP","inv_country":"CA","fair_val_level":"2","payoff_profile":"Long"},{"issuer_name":"MEIJI YASUDA LIFE INSURANCE COMPANY","title":"MEIJI YASUDA LIFE INSURA SUBORDINATED 144A 06/55 VAR","isin":"US585270AE15","value_usd":519018,"pct_val":0.256718,"balance":500000,"units":"PA","currency":"USD","asset_cat":"DBT","issuer_cat":"CORP","inv_country":"JP","fair_val_level":"2","payoff_profile":"Long"},{"issuer_name":"SOCIETE GENERALE","title":"SOCIETE GENERALE JR SUBORDINA 144A 12/99 VAR","isin":"US83370RAC25","value_usd":517377.61,"pct_val":0.255906,"balance":484000,"units":"PA","currency":"USD","asset_cat":"DBT","issuer_cat":"CORP","inv_country":"FR","fair_val_level":"2","payoff_profile":"Long"},{"issuer_name":"STANDARD CHARTERED PLC","title":"STANDARD CHARTERED PLC JR SUBORDINA 144A 12/99 VAR","isin":"US853254DH03","value_usd":514845,"pct_val":0.254654,"balance":500000,"units":"PA","currency":"USD","asset_cat":"DBT","issuer_cat":"CORP","inv_country":"GB","fair_val_level":"2","payoff_profile":"Long"},{"issuer_name":"THE BANK OF NOVA SCOTIA","title":"BANK OF NOVA SCOTIA JR SUBORDINA 10/85 VAR","isin":"US06419GEE26","value_usd":512907.91,"pct_val":0.253696,"balance":500000,"units":"PA","currency":"USD","asset_cat":"DBT","issuer_cat":"CORP","inv_country":"CA","fair_val_level":"2","payoff_profile":"Long"},{"issuer_name":"VOYA FINANCIAL INC","title":"VOYA FINANCIAL INC PREFERRED STOCK VAR","isin":"US9290892093","value_usd":511911,"pct_val":0.253203,"balance":20700,"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 JR SUBORDINA 12/99 VAR","isin":"US17327CBC64","value_usd":511815,"pct_val":0.253155,"balance":500000,"units":"NS","currency":"USD","asset_cat":"EP","issuer_cat":"CORP","inv_country":"US","fair_val_level":"2","payoff_profile":"Long"},{"issuer_name":"HUNTINGTON BANCSHARES INCORPORATED","title":"HUNTINGTON BANCSHARES JR SUBORDINA 12/99 VAR","isin":"US446150AT18","value_usd":508990,"pct_val":0.251758,"balance":500000,"units":"NS","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 PREFERRED STOCK 4.875","isin":"US61762V8046","value_usd":504868,"pct_val":0.249719,"balance":24700,"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 PREFERRED STOCK VAR","isin":"US87165B4005","value_usd":504768,"pct_val":0.249669,"balance":19200,"units":"NS","currency":"USD","asset_cat":"EP","issuer_cat":"CORP","inv_country":"US","fair_val_level":"1","payoff_profile":"Long"},{"issuer_name":"GLOBAL ATLANTIC (FIN) COMPANY","title":"GLOBAL ATLANTIC FIN CO COMPANY GUAR 144A 03/56 VAR","isin":"US37959GAH02","value_usd":502581.16,"pct_val":0.248588,"balance":500000,"units":"PA","currency":"USD","asset_cat":"DBT","issuer_cat":"CORP","inv_country":"US","fair_val_level":"2","payoff_profile":"Long"},{"issuer_name":"AFRICAN DEVELOPMENT BANK","title":"AFRICAN DEVELOPMENT BANK JR SUBORDINA 12/99 VAR","isin":"US008281BK24","value_usd":500625,"pct_val":0.24762,"balance":500000,"units":"PA","currency":"USD","asset_cat":"DBT","issuer_cat":"CORP","inv_country":"N/A","fair_val_level":"2","payoff_profile":"Long"},{"issuer_name":"PLAINS ALL AMERICAN PIPELINE LP","title":"PLAINS ALL AMERICAN PIPE JR SUBORDINA 12/99 VAR","isin":"US726503AE55","value_usd":499796.29,"pct_val":0.24721,"balance":498000,"units":"PA","currency":"USD","asset_cat":"DBT","issuer_cat":"CORP","inv_country":"US","fair_val_level":"2","payoff_profile":"Long"},{"issuer_name":"METLIFE INC","title":"METLIFE INC PREFERRED STOCK 4.75","isin":"US59156R8503","value_usd":495223,"pct_val":0.244948,"balance":25100,"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 PRODUCTS OPER COMPANY GUAR 08/77 VAR","isin":"US29379VBM46","value_usd":489071.36,"pct_val":0.241906,"balance":489000,"units":"PA","currency":"USD","asset_cat":"DBT","issuer_cat":"CORP","inv_country":"US","fair_val_level":"2","payoff_profile":"Long"},{"issuer_name":"SOCIETE GENERALE","title":"SOCIETE GENERALE JR SUBORDINA 144A 12/99 VAR","isin":"US83370RAA68","value_usd":479546.2,"pct_val":0.237194,"balance":500000,"units":"PA","currency":"USD","asset_cat":"DBT","issuer_cat":"CORP","inv_country":"FR","fair_val_level":"2","payoff_profile":"Long"},{"issuer_name":"THE BANK OF NOVA SCOTIA","title":"BANK OF NOVA SCOTIA JR SUBORDINA 10/81 VAR","isin":"US0641598N91","value_usd":464508.04,"pct_val":0.229756,"balance":479000,"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","title":"GOLDMAN SACHS GROUP INC PREFERRED STOCK VAR","isin":"US38144G8042","value_usd":460965,"pct_val":0.228004,"balance":23700,"units":"NS","currency":"USD","asset_cat":"EP","issuer_cat":"CORP","inv_country":"US","fair_val_level":"1","payoff_profile":"Long"},{"issuer_name":"MITSUBISHI UFJ FINANCIAL GROUP INC (MUFG)","title":"MITSUBISHI UFJ FIN GRP JR SUBORDINA 12/99 VAR","isin":"US606822DD36","value_usd":440597.1,"pct_val":0.217929,"balance":400000,"units":"PA","currency":"USD","asset_cat":"DBT","issuer_cat":"CORP","inv_country":"JP","fair_val_level":"2","payoff_profile":"Long"},{"issuer_name":"DRESDNER FUNDING TRUST I","title":"DRESDNER FNDG TRUST I JR SUBORDINA REGS 06/31 8.151","isin":"XS0097772965","value_usd":440338.92,"pct_val":0.217801,"balance":400000,"units":"PA","currency":"USD","asset_cat":"DBT","issuer_cat":"CORP","inv_country":"US","fair_val_level":"2","payoff_profile":"Long"},{"issuer_name":"ENTERPRISE PRODUCTS OPERATING LLC","title":"ENTERPRISE PRODUCTS OPER COMPANY GUAR 02/78 VAR","isin":"US29379VBR33","value_usd":433738.37,"pct_val":0.214537,"balance":435000,"units":"PA","currency":"USD","asset_cat":"DBT","issuer_cat":"CORP","inv_country":"US","fair_val_level":"2","payoff_profile":"Long"},{"issuer_name":"GOLDMAN SACHS GROUP INC","title":"GOLDMAN SACHS GROUP INC JR SUBORDINA 12/99 VAR","isin":"US38141GA385","value_usd":425860,"pct_val":0.215983,"balance":400000,"units":"NS","currency":"USD","asset_cat":"EP","issuer_cat":"CORP","inv_country":"US","fair_val_level":"2","payoff_profile":"Long"},{"issuer_name":"ALLSTATE CORP","title":"ALLSTATE CORP JR SUBORDINA 05/67 VAR","isin":"US020002AU59","value_usd":422006.8,"pct_val":0.208734,"balance":400000,"units":"PA","currency":"USD","asset_cat":"DBT","issuer_cat":"CORP","inv_country":"US","fair_val_level":"2","payoff_profile":"Long"},{"issuer_name":"CVS HEALTH CORPORATION","title":"CVS HEALTH CORP JR SUBORDINA 03/55 VAR","isin":"US126650EH94","value_usd":419879.23,"pct_val":0.207681,"balance":400000,"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 JR SUBORDINA 144A 12/99 VAR","isin":"US05602XJC39","value_usd":418958.8,"pct_val":0.207226,"balance":400000,"units":"PA","currency":"USD","asset_cat":"DBT","issuer_cat":"CORP","inv_country":"FR","fair_val_level":"2","payoff_profile":"Long"},{"issuer_name":"CENTERPOINT ENERGY INC","title":"CENTERPOINT ENERGY INC JR SUBORDINA 05/55 VAR","isin":"US15189TBP12","value_usd":412205.2,"pct_val":0.203886,"balance":400000,"units":"PA","currency":"USD","asset_cat":"DBT","issuer_cat":"CORP","inv_country":"US","fair_val_level":"2","payoff_profile":"Long"},{"issuer_name":"SKANDINAVISKA ENSKILDA BANKEN AB","title":"SKANDINAVISKA ENSKILDA JR SUBORDINA REGS 12/99 VAR","isin":"XS2479344561","value_usd":410784.3,"pct_val":0.203183,"balance":400000,"units":"PA","currency":"USD","asset_cat":"DBT","issuer_cat":"CORP","inv_country":"SE","fair_val_level":"2","payoff_profile":"Long"},{"issuer_name":"UBS GROUP AG","title":"UBS GROUP AG JR SUBORDINA 144A 12/99 VAR","isin":"US225401BJ63","value_usd":410139.83,"pct_val":0.202864,"balance":400000,"units":"PA","currency":"USD","asset_cat":"DBT","issuer_cat":"CORP","inv_country":"CH","fair_val_level":"2","payoff_profile":"Long"},{"issuer_name":"COBANK ACB (AKA: COBANK AB)","title":"COBANK ACB JR SUBORDINA 12/99 VAR","isin":"US19075QAE26","value_usd":403212,"pct_val":0.199437,"balance":400000,"units":"NS","currency":"USD","asset_cat":"EP","issuer_cat":"NUSS","inv_country":"US","fair_val_level":"2","payoff_profile":"Long"},{"issuer_name":"BANCO BILBAO VIZCAYA ARGENTARIA SA (BBVA)","title":"BANCO BILBAO VIZCAYA ARG JR SUBORDINA 12/99 VAR","isin":"US05946KAM36","value_usd":403155.05,"pct_val":0.199409,"balance":361000,"units":"PA","currency":"USD","asset_cat":"DBT","issuer_cat":"CORP","inv_country":"ES","fair_val_level":"2","payoff_profile":"Long"},{"issuer_name":"MORGAN STANLEY","title":"MORGAN STANLEY JR SUBORDINA VAR","isin":"US61745VAB99","value_usd":401260,"pct_val":0.198472,"balance":400000,"units":"NS","currency":"USD","asset_cat":"EP","issuer_cat":"CORP","inv_country":"US","fair_val_level":"2","payoff_profile":"Long"},{"issuer_name":"EUSHI FINANCE INC","title":"EUSHI FINANCE INC COMPANY GUAR 04/56 VAR","isin":"US29882DAC74","value_usd":400899.72,"pct_val":0.198294,"balance":400000,"units":"PA","currency":"USD","asset_cat":"DBT","issuer_cat":"CORP","inv_country":"US","fair_val_level":"2","payoff_profile":"Long"},{"issuer_name":"LLOYDS BANKING GROUP PLC","title":"LLOYDS BANKING GROUP PLC JR SUBORDINA 12/99 VAR","isin":"US539439BF59","value_usd":399545.56,"pct_val":0.197624,"balance":400000,"units":"PA","currency":"USD","asset_cat":"DBT","issuer_cat":"CORP","inv_country":"GB","fair_val_level":"2","payoff_profile":"Long"},{"issuer_name":"TXNM ENERGY INC","title":"TXNM ENERGY INC JR SUBORDINA 144A 07/56 VAR","isin":"US69349HAJ68","value_usd":398917.97,"pct_val":0.197314,"balance":400000,"units":"PA","currency":"USD","asset_cat":"DBT","issuer_cat":"CORP","inv_country":"US","fair_val_level":"2","payoff_profile":"Long"},{"issuer_name":"ENERGY TRANSFER LP","title":"ENERGY TRANSFER LP JR SUBORDINA 02/56 VAR","isin":"US29273VBG41","value_usd":398854.46,"pct_val":0.197282,"balance":400000,"units":"PA","currency":"USD","asset_cat":"DBT","issuer_cat":"CORP","inv_country":"US","fair_val_level":"2","payoff_profile":"Long"},{"issuer_name":"BANK OF NEW YORK MELLON CORP (BNY MELLON)","title":"BANK OF NY MELLON CORP JR SUBORDINA 12/49 VAR","isin":"US064058AF75","value_usd":397988,"pct_val":0.196854,"balance":400000,"units":"NS","currency":"USD","asset_cat":"EP","issuer_cat":"CORP","inv_country":"US","fair_val_level":"2","payoff_profile":"Long"},{"issuer_name":"AMERICAN ELECTRIC POWER COMPANY INC","title":"AMERICAN ELECTRIC POWER JR SUBORDINA 02/62 VAR","isin":"US025537AU52","value_usd":393574.56,"pct_val":0.194671,"balance":400000,"units":"PA","currency":"USD","asset_cat":"DBT","issuer_cat":"CORP","inv_country":"US","fair_val_level":"2","payoff_profile":"Long"},{"issuer_name":"CHARLES SCHWAB CORP/THE","title":"CHARLES SCHWAB CORP JR SUBORDINA 12/99 VAR","isin":"US808513AR62","value_usd":392548,"pct_val":0.194163,"balance":400000,"units":"NS","currency":"USD","asset_cat":"EP","issuer_cat":"CORP","inv_country":"US","fair_val_level":"2","payoff_profile":"Long"},{"issuer_name":"BRITISH TELECOMMUNICATIONS PLC","title":"BRITISH TELECOMMUNICATIO COMPANY GUAR 144A 11/81 VAR","isin":"US11102AAG67","value_usd":387308.64,"pct_val":0.191571,"balance":400000,"units":"PA","currency":"USD","asset_cat":"DBT","issuer_cat":"CORP","inv_country":"GB","fair_val_level":"2","payoff_profile":"Long"},{"issuer_name":"INTESA SANPAOLO SPA","title":"INTESA SANPAOLO SPA 144A 06/54 VAR","isin":"US46115HCB15","value_usd":356714.12,"pct_val":0.176439,"balance":300000,"units":"PA","currency":"USD","asset_cat":"DBT","issuer_cat":"CORP","inv_country":"IT","fair_val_level":"2","payoff_profile":"Long"},{"issuer_name":"TORONTO-DOMINION BANK","title":"TORONTO DOMINION BANK JR SUBORDINA 07/84 VAR","isin":"US89116CKP13","value_usd":316350.3,"pct_val":0.156474,"balance":300000,"units":"PA","currency":"USD","asset_cat":"DBT","issuer_cat":"CORP","inv_country":"CA","fair_val_level":"2","payoff_profile":"Long"},{"issuer_name":"AMERICAN ELECTRIC POWER COMPANY INC","title":"AMERICAN ELECTRIC POWER JR SUBORDINA 12/54 VAR","isin":"US025537AZ40","value_usd":315394.5,"pct_val":0.156001,"balance":300000,"units":"PA","currency":"USD","asset_cat":"DBT","issuer_cat":"CORP","inv_country":"US","fair_val_level":"2","payoff_profile":"Long"},{"issuer_name":"SUMITOMO MITSUI FINANCIAL GROUP INC","title":"SUMITOMO MITSUI FINL GRP 12/99 1","isin":"US86562MDK36","value_usd":314036.1,"pct_val":0.159269,"balance":300000,"units":"PA","currency":"USD","asset_cat":"DBT","issuer_cat":"CORP","inv_country":"JP","fair_val_level":"2","payoff_profile":"Long"},{"issuer_name":"EDISON INTERNATIONAL","title":"EDISON INTERNATIONAL JR SUBORDINA 06/53 VAR","isin":"US281020AX52","value_usd":312366.32,"pct_val":0.154503,"balance":300000,"units":"PA","currency":"USD","asset_cat":"DBT","issuer_cat":"CORP","inv_country":"US","fair_val_level":"2","payoff_profile":"Long"},{"issuer_name":"SCE TRUST VII","title":"SCE TRUST VII PREFERRED STOCK 7.5","isin":"US7838922018","value_usd":306180,"pct_val":0.151443,"balance":12000,"units":"NS","currency":"USD","asset_cat":"EP","issuer_cat":"CORP","inv_country":"US","fair_val_level":"2","payoff_profile":"Long"},{"issuer_name":"SEMPRA","title":"SEMPRA JR SUBORDINA 10/54 VAR","isin":"US816851BT54","value_usd":305305.35,"pct_val":0.151011,"balance":300000,"units":"PA","currency":"USD","asset_cat":"DBT","issuer_cat":"CORP","inv_country":"US","fair_val_level":"2","payoff_profile":"Long"},{"issuer_name":"DOMINION ENERGY INC","title":"DOMINION ENERGY INC JR SUBORDINA 02/56 VAR","isin":"US25746UEA34","value_usd":300404.27,"pct_val":0.148587,"balance":300000,"units":"PA","currency":"USD","asset_cat":"DBT","issuer_cat":"CORP","inv_country":"US","fair_val_level":"2","payoff_profile":"Long"},{"issuer_name":"ENTERGY CORPORATION","title":"ENTERGY CORP JR SUBORDINA 06/56 VAR","isin":"US29364GAS21","value_usd":299662.76,"pct_val":0.14822,"balance":300000,"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 GROUP INC","title":"PNC FINANCIAL SERVICES JR SUBORDINA 12/99 VAR","isin":"US693475BC86","value_usd":294162,"pct_val":0.145499,"balance":300000,"units":"NS","currency":"USD","asset_cat":"EP","issuer_cat":"CORP","inv_country":"US","fair_val_level":"2","payoff_profile":"Long"},{"issuer_name":"BARCLAYS PLC","title":"BARCLAYS PLC JR SUBORDINA 12/99 VAR","isin":"XS2591803841","value_usd":291160.68,"pct_val":0.144014,"balance":200000,"units":"PA","currency":null,"asset_cat":"DBT","issuer_cat":"CORP","inv_country":"GB","fair_val_level":"2","payoff_profile":"Long"},{"issuer_name":"BARCLAYS PLC","title":"BARCLAYS PLC JR SUBORDINA REGS 12/99 VAR","isin":"XS2492482828","value_usd":283573.4,"pct_val":0.143819,"balance":200000,"units":"PA","currency":null,"asset_cat":"DBT","issuer_cat":"CORP","inv_country":"GB","fair_val_level":"2","payoff_profile":"Long"},{"issuer_name":"N/A","title":"RFR USD SOFR/3.25000 03/19/25-10Y LCH","isin":"EZG5Z5S944W5","value_usd":268463.11,"pct_val":0.132788,"balance":1,"units":"NC","currency":"USD","asset_cat":"DIR","issuer_cat":null,"inv_country":"US","fair_val_level":"2","payoff_profile":"N/A"},{"issuer_name":"CENTERPOINT ENERGY INC","title":"CENTERPOINT ENERGY INC JR SUBORDINA 02/55 VAR","isin":"US15189TBH95","value_usd":260891.75,"pct_val":0.129043,"balance":250000,"units":"PA","currency":"USD","asset_cat":"DBT","issuer_cat":"CORP","inv_country":"US","fair_val_level":"2","payoff_profile":"Long"},{"issuer_name":"CREDIT SUISSE GROUP AG","title":"CS AT1 CLAIMS US225401AX66 CREDIT SUISSE GROUP AG","isin":null,"value_usd":236000,"pct_val":0.116731,"balance":800000,"units":"PA","currency":"USD","asset_cat":"DBT","issuer_cat":"CORP","inv_country":"US","fair_val_level":"2","payoff_profile":"Long"},{"issuer_name":"DRESDNER FUNDING TRUST I","title":"DRESDNER FNDG TRUST I JR SUBORDINA 144A 06/31 8.151","isin":"US26156FAA12","value_usd":220169.46,"pct_val":0.108901,"balance":200000,"units":"PA","currency":"USD","asset_cat":"DBT","issuer_cat":"CORP","inv_country":"US","fair_val_level":"2","payoff_profile":"Long"},{"issuer_name":"NORDEA BANK ABP","title":"NORDEA BANK ABP JR SUBORDINA 144A 12/99 VAR","isin":"US65558RAK59","value_usd":205060.6,"pct_val":0.101428,"balance":200000,"units":"PA","currency":"USD","asset_cat":"DBT","issuer_cat":"CORP","inv_country":"FI","fair_val_level":"2","payoff_profile":"Long"},{"issuer_name":"PNC FINANCIAL SERVICES GROUP INC","title":"PNC FINANCIAL SERVICES JR SUBORDINA 12/99 VAR","isin":"US693475BF18","value_usd":203402,"pct_val":0.100607,"balance":200000,"units":"NS","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 JR SUBORDINA 12/99 VAR","isin":"US172967PR67","value_usd":203308,"pct_val":0.103111,"balance":200000,"units":"NS","currency":"USD","asset_cat":"EP","issuer_cat":"CORP","inv_country":"US","fair_val_level":"2","payoff_profile":"Long"},{"issuer_name":"ENBRIDGE INC","title":"ENBRIDGE INC SUBORDINATED 03/78 VAR","isin":"US29250NAW56","value_usd":202310,"pct_val":0.102605,"balance":200000,"units":"PA","currency":"USD","asset_cat":"DBT","issuer_cat":"CORP","inv_country":"CA","fair_val_level":"2","payoff_profile":"Long"},{"issuer_name":"CITIZENS FINANCIAL GROUP INC","title":"CITIZENS FINANCIAL GROUP JR SUBORDINA 12/99 VAR","isin":"US174610AP06","value_usd":199696,"pct_val":0.098774,"balance":200000,"units":"NS","currency":"USD","asset_cat":"EP","issuer_cat":"CORP","inv_country":"US","fair_val_level":"2","payoff_profile":"Long"},{"issuer_name":"SEMPRA","title":"SEMPRA JR SUBORDINA 04/56 VAR","isin":"US816851BW83","value_usd":153360.79,"pct_val":0.0758556,"balance":150000,"units":"PA","currency":"USD","asset_cat":"DBT","issuer_cat":"CORP","inv_country":"US","fair_val_level":"2","payoff_profile":"Long"},{"issuer_name":"COBANK ACB (AKA: COBANK AB)","title":"COBANK ACB JR SUBORDINA 12/99 VAR","isin":"US19075QAG73","value_usd":77881.5,"pct_val":0.0385219,"balance":75000,"units":"NS","currency":"USD","asset_cat":"EP","issuer_cat":"NUSS","inv_country":"US","fair_val_level":"2","payoff_profile":"Long"},{"issuer_name":"N/A","title":"RFR USD SOFR/3.25000 03/19/25-30Y LCH","isin":"EZLKBMPX51B0","value_usd":65688.04,"pct_val":0.0324908,"balance":1,"units":"NC","currency":"USD","asset_cat":"DIR","issuer_cat":null,"inv_country":"US","fair_val_level":"2","payoff_profile":"N/A"},{"issuer_name":"N/A","title":"RFR USD SOFR/3.25000 06/18/25-5Y LCH","isin":"EZH1N8KH2K02","value_usd":30396.16,"pct_val":0.0150346,"balance":1,"units":"NC","currency":"USD","asset_cat":"DIR","issuer_cat":null,"inv_country":"US","fair_val_level":"2","payoff_profile":"N/A"},{"issuer_name":"N/A","title":"RFR USD SOFR/3.50000 12/17/25-2Y LCH","isin":"EZR1DFW2QSB8","value_usd":12155.99,"pct_val":0.0060126,"balance":1,"units":"NC","currency":"USD","asset_cat":"DIR","issuer_cat":null,"inv_country":"US","fair_val_level":"2","payoff_profile":"N/A"},{"issuer_name":"N/A","title":"EURO-BUND FUTURE  MAR26 XEUR 20260306","isin":"DE000F2MGDC1","value_usd":11381.51,"pct_val":0.0056295,"balance":-6,"units":"NC","currency":null,"asset_cat":"DIR","issuer_cat":null,"inv_country":"DE","fair_val_level":"1","payoff_profile":"N/A"},{"issuer_name":"N/A","title":"RFR USD SOFR/3.75000 12/18/24-5Y LCH","isin":"EZ2V74HC3Q62","value_usd":10569.89,"pct_val":0.0052281,"balance":1,"units":"NC","currency":"USD","asset_cat":"DIR","issuer_cat":null,"inv_country":"US","fair_val_level":"2","payoff_profile":"N/A"},{"issuer_name":"N/A","title":"EURO-BOBL FUTURE  MAR26 XEUR 20260306","isin":"DE000F2MGDD9","value_usd":8405.41,"pct_val":0.0041575,"balance":-8,"units":"NC","currency":null,"asset_cat":"DIR","issuer_cat":null,"inv_country":"DE","fair_val_level":"1","payoff_profile":"N/A"},{"issuer_name":"N/A","title":"RFR USD SOFR/3.00000 03/19/25-5Y LCH","isin":"EZ9JNZJCQVZ3","value_usd":7929.07,"pct_val":0.0039219,"balance":1,"units":"NC","currency":"USD","asset_cat":"DIR","issuer_cat":null,"inv_country":"US","fair_val_level":"2","payoff_profile":"N/A"},{"issuer_name":"SVB FINANCIAL TRUST","title":"SVB FINL TR","isin":"US78500B4032","value_usd":6240,"pct_val":0.0030864,"balance":48000,"units":"NS","currency":"USD","asset_cat":"EP","issuer_cat":"CORP","inv_country":"US","fair_val_level":"2","payoff_profile":"Long"},{"issuer_name":"N/A","title":"RFR USD SOFR/3.75000 12/18/24-2Y LCH","isin":"EZHML4QNCYC1","value_usd":3681.43,"pct_val":0.0018209,"balance":1,"units":"NC","currency":"USD","asset_cat":"DIR","issuer_cat":null,"inv_country":"US","fair_val_level":"2","payoff_profile":"N/A"},{"issuer_name":"N/A","title":"RFR USD SOFR/3.75000 09/17/25-10Y LCH","isin":"EZ14KKW1SWH7","value_usd":2169.42,"pct_val":0.001073,"balance":1,"units":"NC","currency":"USD","asset_cat":"DIR","issuer_cat":null,"inv_country":"US","fair_val_level":"2","payoff_profile":"N/A"},{"issuer_name":"N/A","title":"US 5YR NOTE (CBT) MAR26 XCBT 20260331","isin":null,"value_usd":1802.01,"pct_val":0.0008913,"balance":-15,"units":"NC","currency":"USD","asset_cat":"DIR","issuer_cat":null,"inv_country":"US","fair_val_level":"2","payoff_profile":"N/A"},{"issuer_name":"N/A","title":"RFR USD SOFR/3.75000 12/18/24-10Y LCH","isin":"EZ7K2W20N534","value_usd":666.87,"pct_val":0.0003298,"balance":1,"units":"NC","currency":"USD","asset_cat":"DIR","issuer_cat":null,"inv_country":"US","fair_val_level":"2","payoff_profile":"N/A"},{"issuer_name":"N/A","title":"RFR USD SOFR/3.75000 06/20/24-10Y LCH","isin":"EZ52H44WTW83","value_usd":121.95,"pct_val":0.0000603,"balance":1,"units":"NC","currency":"USD","asset_cat":"DIR","issuer_cat":null,"inv_country":"US","fair_val_level":"2","payoff_profile":"N/A"},{"issuer_name":"N/A","title":"EURO-BOBL FUTURE  DEC25 XEUR 20251208","isin":"DE000F1ZLHQ6","value_usd":-349.3,"pct_val":-0.0001772,"balance":-8,"units":"NC","currency":null,"asset_cat":"DIR","issuer_cat":null,"inv_country":"DE","fair_val_level":"1","payoff_profile":"N/A"},{"issuer_name":"N/A","title":"EURO-BUND FUTURE  DEC25 XEUR 20251208","isin":"DE000F1ZLHP8","value_usd":-893.38,"pct_val":-0.0004531,"balance":-1,"units":"NC","currency":null,"asset_cat":"DIR","issuer_cat":null,"inv_country":"DE","fair_val_level":"1","payoff_profile":"N/A"},{"issuer_name":"N/A","title":"RFR USD SOFR/3.75000 06/20/24-7Y LCH","isin":"EZCCSW1V4GN3","value_usd":-7099.71,"pct_val":-0.0035117,"balance":1,"units":"NC","currency":"USD","asset_cat":"DIR","issuer_cat":null,"inv_country":"US","fair_val_level":"2","payoff_profile":"N/A"},{"issuer_name":"N/A","title":"RFR USD SOFR/3.50000 06/20/24-30Y LCH","isin":"EZV8ZC6L7CY8","value_usd":-11672.36,"pct_val":-0.0057734,"balance":1,"units":"NC","currency":"USD","asset_cat":"DIR","issuer_cat":null,"inv_country":"US","fair_val_level":"2","payoff_profile":"N/A"},{"issuer_name":"N/A","title":"RFR USD SOFR/3.00000 03/19/25-2Y LCH","isin":"EZPWHZ0KPVN8","value_usd":-31577.14,"pct_val":-0.0156187,"balance":1,"units":"NC","currency":"USD","asset_cat":"DIR","issuer_cat":null,"inv_country":"US","fair_val_level":"2","payoff_profile":"N/A"},{"issuer_name":"N/A","title":"RFR USD SOFR/3.75000 06/20/24-5Y LCH","isin":"EZN00HJGN4H7","value_usd":-55229.11,"pct_val":-0.0273175,"balance":1,"units":"NC","currency":"USD","asset_cat":"DIR","issuer_cat":null,"inv_country":"US","fair_val_level":"2","payoff_profile":"N/A"}],"source_documents":[{"label":"SEC NPORT-P Filings","url":"https://www.sec.gov/cgi-bin/browse-edgar?action=getcompany&CIK=1450011&type=NPORT&dateb=&owner=exclude&count=40"}],"dataset":{"json":"https://dealcharts.org/llm/facts/fund/pimco-preferred-and-capital-securities-active-exchange-traded-fund.json","page":"https://dealcharts.org/capitalmarkets/funds/pimco-preferred-and-capital-securities-active-exchange-traded-fund/"},"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: PIMCO Preferred and Capital Securities Active Exchange-Traded Fund | LEI: 549300XBG0GWIQBZLV45 | 215 positions totaling $197,120,751 across DBT, EP, DIR, DCR | Filing: Sun Mar 01 2026 19:00:00 GMT-0500 (Eastern Standard Time) | Source: SEC NPORT-P via Dealcharts.org","updated_at":"2026-03-02"}
