Portfolio concentration
As of March 31, 2026 · N-PORT
Holdings
177
Top-10 weight
21.93%
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.
94
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.
80.8
Holdings
As of March 31, 2026 · N-PORT| # | Security | Ticker | Shares | Value | % of fund |
|---|---|---|---|---|---|
| 1 | JPMorgan Prime Money Market Fund, IM Shares | — | 62,210,847 | $62.22M | 3.16% |
| 2 | UBS V9.25 PERP 144A | UBS | 50,522,000 | $56.90M | 2.89% |
| 3 | Invesco Preferred ETF | PGX | 3,851,400 | $41.90M | 2.13% |
| 4 | SANTAN 9 5/8 PERP | SANTAN | 35,200,000 | $40.64M | 2.06% |
| 5 | HSBC Holdings PLC | — | 44,294,000 | $40.45M | 2.05% |
| 6 | Wells Fargo & Co. | — | 39,980,000 | $40.13M | 2.04% |
| 7 | BNP V7.75 PERP 144A | BNP | 38,484,000 | $39.70M | 2.01% |
| 8 | SCHW V4 PERP H | SWG2 | 40,345,000 | $37.32M | 1.89% |
| 9 | ING Groep NV | — | 35,222,000 | $37.08M | 1.88% |
| 10 | Bank of America Corp. | — | 32,281,000 | $33.10M | 1.68% |
| 11 | Banco Bilbao Vizcaya Argentaria S.A. | — | 29,950,000 | $32.36M | 1.64% |
| 12 | The PNC Financial Services Group, Inc. | PNC | 32,236,000 | $31.73M | 1.61% |
| 13 | Goldman Sachs Group, Inc. (The), Series X | — | 28,965,000 | $30.34M | 1.54% |
| 14 | CRBG V6.875 PERP | CRBG | 28,902,000 | $29.45M | 1.49% |
| 15 | BANK OF AMERICA CORP REGD V/R /PERP/ 6.25000000 | BAC | 27,747,000 | $27.91M | 1.42% |
| 16 | Toronto-Dominion Bank/The | TD | 23,744,000 | $23.36M | 1.19% |
| 17 | LLOYDS BANKING GROUP PLC JR SUBORDINA 12/99 VAR | LLOYDS | 23,239,000 | $23.11M | 1.17% |
| 18 | Citigroup Inc., Series DD | — | 22,128,000 | $22.77M | 1.16% |
| 19 | MS 6 5/8 PERP | MS Q | 883,245 | $22.29M | 1.13% |
| 20 | C V6.875 PERP GG | C | 21,755,000 | $21.91M | 1.11% |
| 21 | NWG 8 1/8 PERP | NWG | 20,075,000 | $21.73M | 1.10% |
| 22 | NextEra Energy Capital Holdings, Inc., Series U, Pfd. | NEE U | 869,442 | $21.57M | 1.09% |
| 23 | Truist Financial Corp., Series N | TFC | 21,047,000 | $21.01M | 1.07% |
| 24 | GS V6.85 PERP | GS | 20,560,000 | $20.96M | 1.06% |
| 25 | ENBRIDGE INC SUBORDINATED 01/84 VAR | ENBCN | 18,304,000 | $20.59M | 1.05% |
| 26 | Wells Fargo & Co., Series Z, Pfd. | WFC Z | 965,000 | $18.34M | 0.93% |
| 27 | BARCLAYS PLC REGD V/R /PERP/ 9.62500000 | BACR | 16,685,000 | $18.20M | 0.92% |
| 28 | STT V6.7 PERP I | STT | 17,829,000 | $18.12M | 0.92% |
| 29 | Energy Transfer LP | — | 18,235,000 | $18.02M | 0.91% |
| 30 | Credit Agricole SA | — | 18,240,000 | $17.96M | 0.91% |
| 31 | METLIFE INC JR SUBORDINA 144A 04/68 9.25 | MET | 15,093,000 | $17.70M | 0.90% |
| 32 | RY V6.75 08/24/85 | RY | 17,625,000 | $17.69M | 0.90% |
| 33 | Wells Fargo & Co. | — | 16,949,000 | $17.57M | 0.89% |
| 34 | USB V3.7 PERP | USB | 17,865,000 | $17.51M | 0.89% |
| 35 | DOMINION ENERGY | — | 16,863,000 | $16.76M | 0.85% |
| 36 | UBS V7 PERP 144 | UBS | 16,002,000 | $15.47M | 0.79% |
| 37 | ENBRIDGE INC SUBORDINATED 07/80 VAR | ENBCN | 15,490,000 | $15.46M | 0.78% |
| 38 | ET V7.125 PERP G | ET | 15,106,000 | $15.38M | 0.78% |
| 39 | Morgan Stanley, Series P, Pfd. | MS PRP | 606,076 | $15.07M | 0.76% |
| 40 | Societe Generale SA (pfd) 9.38% 05/22/2174 Perpetual | SOCGEN | 14,265,000 | $14.92M | 0.76% |
| 41 | BNP V9.25 PERP 144A | BNP | 14,145,000 | $14.75M | 0.75% |
| 42 | The PNC Financial Services Group, Inc. | PNC | 14,505,000 | $14.63M | 0.74% |
| 43 | SCE Trust VIII, Series N, Pfd. | SCE N | 600,000 | $14.21M | 0.72% |
| 44 | FITB V0 PERP H | FITB | 14,200,000 | $14.14M | 0.72% |
| 45 | BNP V6.875 PERP 144A | BNP | 14,620,000 | $14.13M | 0.72% |
| 46 | METLIFE CAPITAL TRUST IV PFD 144A LIFE JR SUB (H) 7.875% 12-15-67/37 | MET | 12,833,000 | $13.83M | 0.70% |
| 47 | AXP 3.55 PERP | AXP | 13,606,000 | $13.45M | 0.68% |
| 48 | HSBC Holdings PLC Floating rate, Due 12/31/2049 | — | 12,721,000 | $13.13M | 0.67% |
| 49 | TRANSCANADA TRUST REGD V/R 5.50000000 | — | 12,890,000 | $12.78M | 0.65% |
| 50 | Bank of Nova Scotia (The) | — | 12,200,000 | $12.68M | 0.64% |
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Machine-readable: JSON · Markdown. Programmatic access via the agent surface.