Portfolio concentration
As of March 31, 2026 · N-PORT
Holdings
141
Top-10 weight
22.57%
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.
88
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.
140.9
Holdings
As of March 31, 2026 · N-PORT| # | Security | Ticker | Shares | Value | % of fund |
|---|---|---|---|---|---|
| 1 | US ULTRA BOND CBT Sep25 | — | 15,000,000 | $13.42M | 0.03% |
| 2 | Nuveen Floating Rate Income Fund COM | JFR | 1,716,759 | $12.91M | 2.72% |
| 3 | STWD Ltd., Series 2021-FL2, Class D | STWD | 12,654,000 | $12.68M | 2.67% |
| 4 | The PNC Financial Services Group, Inc. | PNC | 12,000,000 | $11.81M | 2.49% |
| 5 | UMH Properties, Inc., 6.375%, Series D | UMH D | 544,584 | $11.31M | 2.38% |
| 6 | BXMT 2026-FL6 D | — | 10,000,000 | $9.99M | 2.11% |
| 7 | LAFAYETE FEDERAL CREDIT UNION ASSET TRUST 2026-HI1 ABS 2048-02-25 USD | — | 9,805,930 | $9.73M | 2.05% |
| 8 | BXMT Ltd. Series 2021-FL4, Class D | BXMT | 10,000,000 | $9.71M | 2.05% |
| 9 | FLX 2021-1A C | FLX | 9,000,000 | $8.94M | 1.88% |
| 10 | FRST AM-GV OB-X | TMPXX | 8,681,264 | $8.68M | 1.83% |
| 11 | Wells Fargo & Co., Series L, Conv. Pfd. | — | 7,201 | $8.33M | 1.76% |
| 12 | Bank of America Corp., Series L, Conv. Pfd. | BACPL | 6,927 | $8.25M | 1.74% |
| 13 | FARM CREDIT BK OF TEXAS JR SUBORDINA 12/99 VAR | FARMCB | 7,165,000 | $7.45M | 1.57% |
| 14 | NATIONWIDE FIN | — | 7,000,000 | $6.94M | 1.46% |
| 15 | FITB V0 PERP J | FITB | 6,718,000 | $6.69M | 1.41% |
| 16 | Summit Midstream Holdings, LLC | — | 6,490,000 | $6.67M | 1.41% |
| 17 | BANK5 2024-5YR8 E | — | 7,333,000 | $6.53M | 1.38% |
| 18 | AGNC INVESTMENT CORP | — | 604,131 | $6.06M | 1.28% |
| 19 | BBCMS 2024-5C27 E | — | 6,674,000 | $5.94M | 1.25% |
| 20 | JPMorgan Chase & Co., Series DD, Pfd. | JPM D | 238,796 | $5.78M | 1.22% |
| 21 | PacifiCorp | — | 6,000,000 | $5.67M | 1.19% |
| 22 | CINCINNATI BELL TELEPHONE CO L SR SECURED 12/28 6.3 | CBB | 5,315,000 | $5.37M | 1.13% |
| 23 | AL V4.125 PERP C | AL | 5,500,000 | $5.34M | 1.13% |
| 24 | Atrium Hotel Portfolio Trust 2024-ATRM | AHPT | 5,000,000 | $5.09M | 1.07% |
| 25 | FARM CREDIT BK OF TEXAS JR SUBORDINA 12/99 VAR | FARMCB | 4,950,000 | $5.07M | 1.07% |
| 26 | BX Mortgage Trust, Series 2025-BIO3, Class D | BX | 5,000,000 | $4.99M | 1.05% |
| 27 | Nexpoint Real Estate Finance Inc | — | 5,000,000 | $4.99M | 1.05% |
| 28 | KREF Ltd., Series 2021-FL2, Class D | KREF | 5,000,000 | $4.97M | 1.05% |
| 29 | LOANCORE 2021 CRE6 ISSUER LTD | LNCR | 5,000,000 | $4.97M | 1.05% |
| 30 | NEXTERA ENERGY | — | 5,000,000 | $4.82M | 1.02% |
| 31 | Charles Schwab Corp. (The), Series K | — | 4,500,000 | $4.45M | 0.94% |
| 32 | VMC FINANCE LLC VMC 2021 FL4 C 144A | VMC | 4,441,119 | $4.40M | 0.93% |
| 33 | GPMT 2021-FL4 E | GPMT | 5,000,000 | $4.36M | 0.92% |
| 34 | Goldman Sachs Group, Inc. (The), Series D, Pfd. | GS D | 227,711 | $4.34M | 0.91% |
| 35 | MTB V3.5 PERP | MTB | 4,412,000 | $4.27M | 0.90% |
| 36 | USRE 2021-1 B1 | — | 6,750,000 | $4.25M | 0.90% |
| 37 | Horizon Mutual Holdings, Inc. | — | 4,500,000 | $4.21M | 0.89% |
| 38 | GNW V0 11/15/36 | GNW | 5,151,000 | $4.18M | 0.88% |
| 39 | GPMT 2021-FL3 D | GPMT | 4,465,000 | $4.10M | 0.86% |
| 40 | ENTERGY CORP | — | 4,000,000 | $4.10M | 0.86% |
| 41 | COREBRIDGE FIN | — | 4,000,000 | $4.03M | 0.85% |
| 42 | FTAI AVIATION INVESTORS REGD 144A P/P 5.50000000 | FTAI | 4,000,000 | $4.00M | 0.84% |
| 43 | ANDEAV 5.125 12/15/26 | MPC | 4,000,000 | $3.99M | 0.84% |
| 44 | PHILLIPS 66 CO | — | 4,000,000 | $3.94M | 0.83% |
| 45 | Benchmark 2024-V5 Mortgage Trust | — | 4,249,000 | $3.88M | 0.82% |
| 46 | VISANT 8.375 12/01/31 144A | VISANT | 3,497,000 | $3.67M | 0.77% |
| 47 | MSBAM 2025-5C1 E | — | 4,098,000 | $3.57M | 0.75% |
| 48 | STWD 2022 FL3 LTD | STWD | 3,590,000 | $3.56M | 0.75% |
| 49 | Annaly Capital Management, Inc., Series G, Pfd. | NLY G | 144,862 | $3.53M | 0.75% |
| 50 | C V7.125 PERP CC | C | 3,500,000 | $3.53M | 0.75% |
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