Portfolio concentration
As of March 31, 2026 · N-PORT
Holdings
48
Top-10 weight
32.83%
Effective holdings
?
The number of equal-weight positions that would produce this portfolio's concentration (1 ÷ Herfindahl index). A 500-stock fund dominated by a few mega-caps might have only ~100 effective holdings.
41
Crowding
?
The value-weighted average number of funds that also own this fund's positions. High = consensus/crowded picks; low = holdings few other funds own.
525.1
Holdings
As of March 31, 2026 · N-PORT| # | Security | Ticker | Shares | Value | % of fund |
|---|---|---|---|---|---|
| 1 | KINDER MORGAN INC | — | 219,810 | $7.37M | 4.04% |
| 2 | MONEY MARKET FUND | TOIXX | 7,116,318 | $7.12M | 3.90% |
| 3 | SCHW V4 PERP I | SCHW | 6,998,000 | $6.95M | 3.81% |
| 4 | Southern Co. (The), Series 2020, Pfd. | SOJD | 304,850 | $5.88M | 3.22% |
| 5 | WILLIAMS COS INC | — | 78,910 | $5.74M | 3.15% |
| 6 | Bank of America Corp., Series TT | BAC | 5,633,000 | $5.64M | 3.09% |
| 7 | AMER ELEC PWR | — | 5,635,000 | $5.57M | 3.05% |
| 8 | Wells Fargo & Co., Series L, Conv. Pfd. | — | 4,820 | $5.57M | 3.05% |
| 9 | AGNC Investment Corp., Series G, Pfd. | AGNCL | 221,020 | $5.42M | 2.97% |
| 10 | Two Harbors Investment Corp., Series B, Pfd. | TWO B | 191,630 | $4.79M | 2.62% |
| 11 | ABBVIE INC | — | 21,920 | $4.77M | 2.61% |
| 12 | WP CAREY INC | — | 69,885 | $4.75M | 2.60% |
| 13 | AMERICAN ELECTRIC POWER CO INC | — | 36,070 | $4.73M | 2.59% |
| 14 | Armada Hoffler Properties, Inc. 6.750% Preferred | AHH A | 210,180 | $4.57M | 2.50% |
| 15 | Truist Financial Corp., Series N | TFC | 4,510,000 | $4.51M | 2.47% |
| 16 | KINETIK HOLDINGS INC | — | 91,845 | $4.45M | 2.44% |
| 17 | CHEVRON CORP | — | 21,450 | $4.44M | 2.43% |
| 18 | CROWN CASTLE INC | — | 4,384,000 | $4.42M | 2.42% |
| 19 | AXP 3.55 PERP | AXP | 4,164,000 | $4.12M | 2.25% |
| 20 | BLACK HILLS CORP | — | 58,620 | $4.07M | 2.23% |
| 21 | UNITED PARCEL SERVICE INC CL B | — | 41,210 | $4.05M | 2.22% |
| 22 | DOMINION ENERGY INC | — | 63,130 | $3.90M | 2.14% |
| 23 | DUKE ENERGY CORP NEW | — | 29,310 | $3.84M | 2.10% |
| 24 | LAMAR ADVERTISING CO CL A | — | 29,310 | $3.71M | 2.03% |
| 25 | JPMorgan Chase & Co., Series OO | — | 3,605,000 | $3.70M | 2.03% |
| 26 | HEALTHPEAK PROPERTIES INC | — | 221,393 | $3.64M | 1.99% |
| 27 | PFIZER INC | — | 129,360 | $3.63M | 1.99% |
| 28 | CROWN CASTLE INC | — | 44,320 | $3.60M | 1.97% |
| 29 | OMNICOM GROUP INC | — | 47,530 | $3.58M | 1.96% |
| 30 | HUNTINGTON BANCSHARES INC | — | 228,020 | $3.57M | 1.95% |
| 31 | FOUR CORNERS PRO | — | 149,920 | $3.55M | 1.94% |
| 32 | DIGITAL RLTY TR INC SER L 5.2% PERP PFD | DLR PRL | 170,250 | $3.30M | 1.81% |
| 33 | Invesco Mortgage Capital, Inc. | IVR C | 138,130 | $3.23M | 1.77% |
| 34 | ONEOK INC | — | 35,675 | $3.22M | 1.77% |
| 35 | EVERSOURCE ENERG | — | 2,850,000 | $2.81M | 1.54% |
| 36 | PNC FINANCIAL SERVICES GRP INC | — | 13,390 | $2.79M | 1.53% |
| 37 | SPONSORED ADR | BTI | 47,340 | $2.77M | 1.52% |
| 38 | CUBESMART | — | 74,400 | $2.73M | 1.49% |
| 39 | UMH Properties, Inc., 6.375%, Series D | UMH D | 126,180 | $2.62M | 1.43% |
| 40 | PHILIP MORRIS INTL INC | — | 15,780 | $2.61M | 1.43% |
| 41 | PRUDENTL FINL | — | 26,310 | $2.57M | 1.41% |
| 42 | VORNADO REALTY TRUST SER M 5.25% PFD PERP | VNO M | 122,780 | $1.99M | 1.09% |
| 43 | Annaly Capital Management, Inc., Series F, Pfd. | NLY F | 74,200 | $1.87M | 1.02% |
| 44 | FIRST HAWAIIAN INC | — | 63,120 | $1.56M | 0.85% |
| 45 | M&T Bank Corp., Series J, Pfd. | — | 59,510 | $1.53M | 0.84% |
| 46 | MID AMERICA APT CMNTY INC | — | 10,630 | $1.30M | 0.71% |
| 47 | Bank of America Corp., Series KK, Pfd. | BAC M | 9,830 | $212.82K | 0.12% |
| 48 | SEMPRA PREFERRED STOCK 07/79 5.75 | SREA | 8,690 | $179.01K | 0.10% |
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