<?xml version="1.0" encoding="UTF-8"?><edgarSubmission xmlns="http://www.sec.gov/edgar/nport" xmlns:com="http://www.sec.gov/edgar/common" xmlns:ncom="http://www.sec.gov/edgar/nportcommon" xmlns:xsi="http://www.w3.org/2001/XMLSchema-instance" xsi:schemaLocation="http://www.sec.gov/edgar/nport eis_NPORT_Filer.xsd">
  <headerData>
    <submissionType>NPORT-P</submissionType>
    <isConfidential>false</isConfidential>
    <filerInfo>

      <filer>
        <issuerCredentials>
          <cik>0001100663</cik>
          <ccc>XXXXXXXX</ccc>
        </issuerCredentials>
      </filer>


      <seriesClassInfo>
        <seriesId>S000013499</seriesId>
        <classId>C000036528</classId>
      </seriesClassInfo>

    </filerInfo>
  </headerData>
  <formData>
    <genInfo>
      <regName>iShares Trust</regName>
      <regFileNumber>811-09729</regFileNumber>
      <regCik>0001100663</regCik>
      <regLei>5493000860OXIC4B5K91</regLei>
      <regStreet1>400 Howard Street</regStreet1>
      <regCity>San Francisco</regCity>
      <regStateConditional regCountry="US" regState="US-CA"/>
      <regZipOrPostalCode>94105</regZipOrPostalCode>
      <regPhone>800-474-2737</regPhone>
      <seriesName>iShares Preferred and Income Securities ETF</seriesName>
      <seriesId>S000013499</seriesId>
      <seriesLei>549300YX74JNY54XCY80</seriesLei>
      <repPdEnd>2026-03-31</repPdEnd>
      <repPdDate>2026-03-31</repPdDate>
      <isFinalFiling>N</isFinalFiling>
    </genInfo>
    <fundInfo>
      <totAssets>13505215644.34</totAssets>
      <totLiabs>172271989.67</totLiabs>
      <netAssets>13332943654.67</netAssets>
      <assetsAttrMiscSec>0.00000000</assetsAttrMiscSec>
      <assetsInvested>0.00000000</assetsInvested>
      <amtPayOneYrBanksBorr>0.00000000</amtPayOneYrBanksBorr>
      <amtPayOneYrCtrldComp>0.00000000</amtPayOneYrCtrldComp>
      <amtPayOneYrOthAffil>0.00000000</amtPayOneYrOthAffil>
      <amtPayOneYrOther>0.00000000</amtPayOneYrOther>
      <amtPayAftOneYrBanksBorr>0.00000000</amtPayAftOneYrBanksBorr>
      <amtPayAftOneYrCtrldComp>0.00000000</amtPayAftOneYrCtrldComp>
      <amtPayAftOneYrOthAffil>0.00000000</amtPayAftOneYrOthAffil>
      <amtPayAftOneYrOther>0.00000000</amtPayAftOneYrOther>
      <delayDeliv>0.00000000</delayDeliv>
      <standByCommit>0.00000000</standByCommit>
      <liquidPref>0.00000000</liquidPref>
      <cshNotRptdInCorD>6993651.24000000</cshNotRptdInCorD>
      <borrowers>
        <borrower aggrVal="35303701.44000000" lei="MBNUM2BPBDO7JBLYG310" name="CITIGROUP GLOBAL MARKETS INC."/>
        <borrower aggrVal="2852190.00000000" lei="FOR8UP27PHTHYVLBNG30" name="GOLDMAN SACHS &amp; CO."/>
        <borrower aggrVal="6488000.00000000" lei="549300HN4UKV1E2R3U73" name="BofA Securities, Inc."/>
        <borrower aggrVal="57838.00000000" lei="549300RA02N3BNSWBV74" name="VIRTU AMERICAS, LLC"/>
        <borrower aggrVal="58193522.00000000" lei="ZBUT11V806EZRVTWT807" name="JP MORGAN SECURITIES LLC"/>
        <borrower aggrVal="108768.00000000" lei="AC28XWWI3WIBK2824319" name="BARCLAYS CAPITAL INC."/>
        <borrower aggrVal="13528108.00000000" lei="RCNB6OTYUAMMP879YW96" name="BNP PARIBAS SECURITIES CORP"/>
        <borrower aggrVal="1256.12000000" lei="549300KUN9K9K32C6D97" name="BNP PARIBAS PRIME BROKERAGE INTERNATIONAL LIMITED"/>
        <borrower aggrVal="15003000.00000000" lei="G5GSEF7VJP5I7OUK5573" name="BARCLAYS BANK PLC"/>
        <borrower aggrVal="9654144.00000000" lei="T6FIZBDPKLYJKFCRVK44" name="UBS SECURITIES LLC"/>
        <borrower aggrVal="6132322.00000000" lei="BFM8T61CT2L1QCEMIK50" name="UBS AG"/>
        <borrower aggrVal="18117584.45000000" lei="9R7GPTSO7KV3UQJZQ078" name="MORGAN STANLEY &amp; CO. LLC (US EQUITY SEC LENDING)"/>
      </borrowers>
      <isNonCashCollateral>N</isNonCashCollateral>
      <returnInfo>
        <monthlyTotReturns>
          <monthlyTotReturn classId="C000036528" rtn1="2.24000000" rtn2="-0.40000000" rtn3="-3.52000000"/>
        </monthlyTotReturns>
        <monthlyReturnCats>
          <commodityContracts>
            <mon1 netRealizedGain="0.00000000" netUnrealizedAppr="0.00000000"/>
            <mon2 netRealizedGain="0.00000000" netUnrealizedAppr="0.00000000"/>
            <mon3 netRealizedGain="0.00000000" netUnrealizedAppr="0.00000000"/>
            <forwardCategory>
              <instrMon1 netRealizedGain="0.00000000" netUnrealizedAppr="0.00000000"/>
              <instrMon2 netRealizedGain="0.00000000" netUnrealizedAppr="0.00000000"/>
              <instrMon3 netRealizedGain="0.00000000" netUnrealizedAppr="0.00000000"/>
            </forwardCategory>
            <futureCategory>
              <instrMon1 netRealizedGain="0.00000000" netUnrealizedAppr="0.00000000"/>
              <instrMon2 netRealizedGain="0.00000000" netUnrealizedAppr="0.00000000"/>
              <instrMon3 netRealizedGain="0.00000000" netUnrealizedAppr="0.00000000"/>
            </futureCategory>
            <optionCategory>
              <instrMon1 netRealizedGain="0.00000000" netUnrealizedAppr="0.00000000"/>
              <instrMon2 netRealizedGain="0.00000000" netUnrealizedAppr="0.00000000"/>
              <instrMon3 netRealizedGain="0.00000000" netUnrealizedAppr="0.00000000"/>
            </optionCategory>
            <swaptionCategory>
              <instrMon1 netRealizedGain="0.00000000" netUnrealizedAppr="0.00000000"/>
              <instrMon2 netRealizedGain="0.00000000" netUnrealizedAppr="0.00000000"/>
              <instrMon3 netRealizedGain="0.00000000" netUnrealizedAppr="0.00000000"/>
            </swaptionCategory>
            <swapCategory>
              <instrMon1 netRealizedGain="0.00000000" netUnrealizedAppr="0.00000000"/>
              <instrMon2 netRealizedGain="0.00000000" netUnrealizedAppr="0.00000000"/>
              <instrMon3 netRealizedGain="0.00000000" netUnrealizedAppr="0.00000000"/>
            </swapCategory>
            <warrantCategory>
              <instrMon1 netRealizedGain="0.00000000" netUnrealizedAppr="0.00000000"/>
              <instrMon2 netRealizedGain="0.00000000" netUnrealizedAppr="0.00000000"/>
              <instrMon3 netRealizedGain="0.00000000" netUnrealizedAppr="0.00000000"/>
            </warrantCategory>
            <otherCategory>
              <instrMon1 netRealizedGain="0.00000000" netUnrealizedAppr="0.00000000"/>
              <instrMon2 netRealizedGain="0.00000000" netUnrealizedAppr="0.00000000"/>
              <instrMon3 netRealizedGain="0.00000000" netUnrealizedAppr="0.00000000"/>
            </otherCategory>
          </commodityContracts>
          <creditContracts>
            <mon1 netRealizedGain="0.00000000" netUnrealizedAppr="0.00000000"/>
            <mon2 netRealizedGain="0.00000000" netUnrealizedAppr="0.00000000"/>
            <mon3 netRealizedGain="0.00000000" netUnrealizedAppr="0.00000000"/>
            <forwardCategory>
              <instrMon1 netRealizedGain="0.00000000" netUnrealizedAppr="0.00000000"/>
              <instrMon2 netRealizedGain="0.00000000" netUnrealizedAppr="0.00000000"/>
              <instrMon3 netRealizedGain="0.00000000" netUnrealizedAppr="0.00000000"/>
            </forwardCategory>
            <futureCategory>
              <instrMon1 netRealizedGain="0.00000000" netUnrealizedAppr="0.00000000"/>
              <instrMon2 netRealizedGain="0.00000000" netUnrealizedAppr="0.00000000"/>
              <instrMon3 netRealizedGain="0.00000000" netUnrealizedAppr="0.00000000"/>
            </futureCategory>
            <optionCategory>
              <instrMon1 netRealizedGain="0.00000000" netUnrealizedAppr="0.00000000"/>
              <instrMon2 netRealizedGain="0.00000000" netUnrealizedAppr="0.00000000"/>
              <instrMon3 netRealizedGain="0.00000000" netUnrealizedAppr="0.00000000"/>
            </optionCategory>
            <swaptionCategory>
              <instrMon1 netRealizedGain="0.00000000" netUnrealizedAppr="0.00000000"/>
              <instrMon2 netRealizedGain="0.00000000" netUnrealizedAppr="0.00000000"/>
              <instrMon3 netRealizedGain="0.00000000" netUnrealizedAppr="0.00000000"/>
            </swaptionCategory>
            <swapCategory>
              <instrMon1 netRealizedGain="0.00000000" netUnrealizedAppr="0.00000000"/>
              <instrMon2 netRealizedGain="0.00000000" netUnrealizedAppr="0.00000000"/>
              <instrMon3 netRealizedGain="0.00000000" netUnrealizedAppr="0.00000000"/>
            </swapCategory>
            <warrantCategory>
              <instrMon1 netRealizedGain="0.00000000" netUnrealizedAppr="0.00000000"/>
              <instrMon2 netRealizedGain="0.00000000" netUnrealizedAppr="0.00000000"/>
              <instrMon3 netRealizedGain="0.00000000" netUnrealizedAppr="0.00000000"/>
            </warrantCategory>
            <otherCategory>
              <instrMon1 netRealizedGain="0.00000000" netUnrealizedAppr="0.00000000"/>
              <instrMon2 netRealizedGain="0.00000000" netUnrealizedAppr="0.00000000"/>
              <instrMon3 netRealizedGain="0.00000000" netUnrealizedAppr="0.00000000"/>
            </otherCategory>
          </creditContracts>
          <equityContracts>
            <mon1 netRealizedGain="0.00000000" netUnrealizedAppr="0.00000000"/>
            <mon2 netRealizedGain="0.00000000" netUnrealizedAppr="0.00000000"/>
            <mon3 netRealizedGain="0.00000000" netUnrealizedAppr="0.00000000"/>
            <forwardCategory>
              <instrMon1 netRealizedGain="0.00000000" netUnrealizedAppr="0.00000000"/>
              <instrMon2 netRealizedGain="0.00000000" netUnrealizedAppr="0.00000000"/>
              <instrMon3 netRealizedGain="0.00000000" netUnrealizedAppr="0.00000000"/>
            </forwardCategory>
            <futureCategory>
              <instrMon1 netRealizedGain="0.00000000" netUnrealizedAppr="0.00000000"/>
              <instrMon2 netRealizedGain="0.00000000" netUnrealizedAppr="0.00000000"/>
              <instrMon3 netRealizedGain="0.00000000" netUnrealizedAppr="0.00000000"/>
            </futureCategory>
            <optionCategory>
              <instrMon1 netRealizedGain="0.00000000" netUnrealizedAppr="0.00000000"/>
              <instrMon2 netRealizedGain="0.00000000" netUnrealizedAppr="0.00000000"/>
              <instrMon3 netRealizedGain="0.00000000" netUnrealizedAppr="0.00000000"/>
            </optionCategory>
            <swaptionCategory>
              <instrMon1 netRealizedGain="0.00000000" netUnrealizedAppr="0.00000000"/>
              <instrMon2 netRealizedGain="0.00000000" netUnrealizedAppr="0.00000000"/>
              <instrMon3 netRealizedGain="0.00000000" netUnrealizedAppr="0.00000000"/>
            </swaptionCategory>
            <swapCategory>
              <instrMon1 netRealizedGain="0.00000000" netUnrealizedAppr="0.00000000"/>
              <instrMon2 netRealizedGain="0.00000000" netUnrealizedAppr="0.00000000"/>
              <instrMon3 netRealizedGain="0.00000000" netUnrealizedAppr="0.00000000"/>
            </swapCategory>
            <warrantCategory>
              <instrMon1 netRealizedGain="0.00000000" netUnrealizedAppr="0.00000000"/>
              <instrMon2 netRealizedGain="0.00000000" netUnrealizedAppr="0.00000000"/>
              <instrMon3 netRealizedGain="0.00000000" netUnrealizedAppr="0.00000000"/>
            </warrantCategory>
            <otherCategory>
              <instrMon1 netRealizedGain="0.00000000" netUnrealizedAppr="0.00000000"/>
              <instrMon2 netRealizedGain="0.00000000" netUnrealizedAppr="0.00000000"/>
              <instrMon3 netRealizedGain="0.00000000" netUnrealizedAppr="0.00000000"/>
            </otherCategory>
          </equityContracts>
          <foreignExchgContracts>
            <mon1 netRealizedGain="0.00000000" netUnrealizedAppr="0.00000000"/>
            <mon2 netRealizedGain="0.00000000" netUnrealizedAppr="0.00000000"/>
            <mon3 netRealizedGain="0.00000000" netUnrealizedAppr="0.00000000"/>
            <forwardCategory>
              <instrMon1 netRealizedGain="0.00000000" netUnrealizedAppr="0.00000000"/>
              <instrMon2 netRealizedGain="0.00000000" netUnrealizedAppr="0.00000000"/>
              <instrMon3 netRealizedGain="0.00000000" netUnrealizedAppr="0.00000000"/>
            </forwardCategory>
            <futureCategory>
              <instrMon1 netRealizedGain="0.00000000" netUnrealizedAppr="0.00000000"/>
              <instrMon2 netRealizedGain="0.00000000" netUnrealizedAppr="0.00000000"/>
              <instrMon3 netRealizedGain="0.00000000" netUnrealizedAppr="0.00000000"/>
            </futureCategory>
            <optionCategory>
              <instrMon1 netRealizedGain="0.00000000" netUnrealizedAppr="0.00000000"/>
              <instrMon2 netRealizedGain="0.00000000" netUnrealizedAppr="0.00000000"/>
              <instrMon3 netRealizedGain="0.00000000" netUnrealizedAppr="0.00000000"/>
            </optionCategory>
            <swaptionCategory>
              <instrMon1 netRealizedGain="0.00000000" netUnrealizedAppr="0.00000000"/>
              <instrMon2 netRealizedGain="0.00000000" netUnrealizedAppr="0.00000000"/>
              <instrMon3 netRealizedGain="0.00000000" netUnrealizedAppr="0.00000000"/>
            </swaptionCategory>
            <swapCategory>
              <instrMon1 netRealizedGain="0.00000000" netUnrealizedAppr="0.00000000"/>
              <instrMon2 netRealizedGain="0.00000000" netUnrealizedAppr="0.00000000"/>
              <instrMon3 netRealizedGain="0.00000000" netUnrealizedAppr="0.00000000"/>
            </swapCategory>
            <warrantCategory>
              <instrMon1 netRealizedGain="0.00000000" netUnrealizedAppr="0.00000000"/>
              <instrMon2 netRealizedGain="0.00000000" netUnrealizedAppr="0.00000000"/>
              <instrMon3 netRealizedGain="0.00000000" netUnrealizedAppr="0.00000000"/>
            </warrantCategory>
            <otherCategory>
              <instrMon1 netRealizedGain="0.00000000" netUnrealizedAppr="0.00000000"/>
              <instrMon2 netRealizedGain="0.00000000" netUnrealizedAppr="0.00000000"/>
              <instrMon3 netRealizedGain="0.00000000" netUnrealizedAppr="0.00000000"/>
            </otherCategory>
          </foreignExchgContracts>
          <interestRtContracts>
            <mon1 netRealizedGain="0.00000000" netUnrealizedAppr="0.00000000"/>
            <mon2 netRealizedGain="0.00000000" netUnrealizedAppr="0.00000000"/>
            <mon3 netRealizedGain="0.00000000" netUnrealizedAppr="0.00000000"/>
            <forwardCategory>
              <instrMon1 netRealizedGain="0.00000000" netUnrealizedAppr="0.00000000"/>
              <instrMon2 netRealizedGain="0.00000000" netUnrealizedAppr="0.00000000"/>
              <instrMon3 netRealizedGain="0.00000000" netUnrealizedAppr="0.00000000"/>
            </forwardCategory>
            <futureCategory>
              <instrMon1 netRealizedGain="0.00000000" netUnrealizedAppr="0.00000000"/>
              <instrMon2 netRealizedGain="0.00000000" netUnrealizedAppr="0.00000000"/>
              <instrMon3 netRealizedGain="0.00000000" netUnrealizedAppr="0.00000000"/>
            </futureCategory>
            <optionCategory>
              <instrMon1 netRealizedGain="0.00000000" netUnrealizedAppr="0.00000000"/>
              <instrMon2 netRealizedGain="0.00000000" netUnrealizedAppr="0.00000000"/>
              <instrMon3 netRealizedGain="0.00000000" netUnrealizedAppr="0.00000000"/>
            </optionCategory>
            <swaptionCategory>
              <instrMon1 netRealizedGain="0.00000000" netUnrealizedAppr="0.00000000"/>
              <instrMon2 netRealizedGain="0.00000000" netUnrealizedAppr="0.00000000"/>
              <instrMon3 netRealizedGain="0.00000000" netUnrealizedAppr="0.00000000"/>
            </swaptionCategory>
            <swapCategory>
              <instrMon1 netRealizedGain="0.00000000" netUnrealizedAppr="0.00000000"/>
              <instrMon2 netRealizedGain="0.00000000" netUnrealizedAppr="0.00000000"/>
              <instrMon3 netRealizedGain="0.00000000" netUnrealizedAppr="0.00000000"/>
            </swapCategory>
            <warrantCategory>
              <instrMon1 netRealizedGain="0.00000000" netUnrealizedAppr="0.00000000"/>
              <instrMon2 netRealizedGain="0.00000000" netUnrealizedAppr="0.00000000"/>
              <instrMon3 netRealizedGain="0.00000000" netUnrealizedAppr="0.00000000"/>
            </warrantCategory>
            <otherCategory>
              <instrMon1 netRealizedGain="0.00000000" netUnrealizedAppr="0.00000000"/>
              <instrMon2 netRealizedGain="0.00000000" netUnrealizedAppr="0.00000000"/>
              <instrMon3 netRealizedGain="0.00000000" netUnrealizedAppr="0.00000000"/>
            </otherCategory>
          </interestRtContracts>
          <otherContracts>
            <mon1 netRealizedGain="0.00000000" netUnrealizedAppr="0.00000000"/>
            <mon2 netRealizedGain="0.00000000" netUnrealizedAppr="0.00000000"/>
            <mon3 netRealizedGain="0.00000000" netUnrealizedAppr="0.00000000"/>
            <forwardCategory>
              <instrMon1 netRealizedGain="0.00000000" netUnrealizedAppr="0.00000000"/>
              <instrMon2 netRealizedGain="0.00000000" netUnrealizedAppr="0.00000000"/>
              <instrMon3 netRealizedGain="0.00000000" netUnrealizedAppr="0.00000000"/>
            </forwardCategory>
            <futureCategory>
              <instrMon1 netRealizedGain="0.00000000" netUnrealizedAppr="0.00000000"/>
              <instrMon2 netRealizedGain="0.00000000" netUnrealizedAppr="0.00000000"/>
              <instrMon3 netRealizedGain="0.00000000" netUnrealizedAppr="0.00000000"/>
            </futureCategory>
            <optionCategory>
              <instrMon1 netRealizedGain="0.00000000" netUnrealizedAppr="0.00000000"/>
              <instrMon2 netRealizedGain="0.00000000" netUnrealizedAppr="0.00000000"/>
              <instrMon3 netRealizedGain="0.00000000" netUnrealizedAppr="0.00000000"/>
            </optionCategory>
            <swaptionCategory>
              <instrMon1 netRealizedGain="0.00000000" netUnrealizedAppr="0.00000000"/>
              <instrMon2 netRealizedGain="0.00000000" netUnrealizedAppr="0.00000000"/>
              <instrMon3 netRealizedGain="0.00000000" netUnrealizedAppr="0.00000000"/>
            </swaptionCategory>
            <swapCategory>
              <instrMon1 netRealizedGain="0.00000000" netUnrealizedAppr="0.00000000"/>
              <instrMon2 netRealizedGain="0.00000000" netUnrealizedAppr="0.00000000"/>
              <instrMon3 netRealizedGain="0.00000000" netUnrealizedAppr="0.00000000"/>
            </swapCategory>
            <warrantCategory>
              <instrMon1 netRealizedGain="0.00000000" netUnrealizedAppr="0.00000000"/>
              <instrMon2 netRealizedGain="0.00000000" netUnrealizedAppr="0.00000000"/>
              <instrMon3 netRealizedGain="0.00000000" netUnrealizedAppr="0.00000000"/>
            </warrantCategory>
            <otherCategory>
              <instrMon1 netRealizedGain="0.00000000" netUnrealizedAppr="0.00000000"/>
              <instrMon2 netRealizedGain="0.00000000" netUnrealizedAppr="0.00000000"/>
              <instrMon3 netRealizedGain="0.00000000" netUnrealizedAppr="0.00000000"/>
            </otherCategory>
          </otherContracts>
        </monthlyReturnCats>
        <othMon1 netRealizedGain="-17511872.86000000" netUnrealizedAppr="283019707.50000000"/>
        <othMon2 netRealizedGain="-3962089.23000000" netUnrealizedAppr="-73176576.93000000"/>
        <othMon3 netRealizedGain="-66661168.10000000" netUnrealizedAppr="-511637815.41000000"/>
      </returnInfo>
      <mon1Flow redemption="233667423.60000000" reinvestment="0.00000000" sales="0.00000000"/>
      <mon2Flow redemption="83451788.55000000" reinvestment="0.00000000" sales="181234402.60000000"/>
      <mon3Flow redemption="404375295.55000000" reinvestment="0.00000000" sales="160051773.15000000"/>



    </fundInfo>
    <invstOrSecs>
      <invstOrSec>
        <name>Summit Hotel Properties, Inc.</name>
        <lei>254900OBQWJK6X20LS71</lei>
        <title>Summit Hotel Properties, Inc. 6.250% SERIES E CUMULATIVE REDEEMABLE PREFERRED STOCK</title>
        <cusip>866082605</cusip>
        <identifiers>
          <isin value="US8660826053"/>
          <ticker value="INN E"/>
        </identifiers>
        <balance>455186.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>7897477.10000000</valUSD>
        <pctVal>0.059232809382</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EP</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>American Financial Group, Inc.</name>
        <lei>549300AFOM7IVKIU1G39</lei>
        <title>American Financial Group, Inc. 5.875% SUBORDINATED DEBENTURES DUE MARCH 30,2059</title>
        <cusip>025932807</cusip>
        <identifiers>
          <isin value="US0259328070"/>
          <ticker value="AFGB"/>
        </identifiers>
        <balance>368321.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>7580046.18000000</valUSD>
        <pctVal>0.056852007901</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EP</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>MetLife Inc.</name>
        <lei>C4BXATY60WC6XEOZDX54</lei>
        <title>MetLife Inc. 5.625% NON-CUMULATIVE PREFERRED STOCK, SERIES E</title>
        <cusip>59156R876</cusip>
        <identifiers>
          <isin value="US59156R8768"/>
          <ticker value="MET E"/>
        </identifiers>
        <balance>2290545.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>51399829.80000000</valUSD>
        <pctVal>0.385509990376</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EP</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <loanByFundCondition isLoanByFund="Y" loanVal="323136.00000000"/>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>American National Group Inc.</name>
        <lei>549300RK5RZQ740FPL83</lei>
        <title>American National Group Inc. DEPOSITARY SHARE REPRESENTING 1/1000TH, 7.375% FIXED-RATE NON-CUMULATIVE PREFERRED STOCK SERIES D</title>
        <cusip>025676859</cusip>
        <identifiers>
          <isin value="US0256768591"/>
          <ticker value="ANG D"/>
        </identifiers>
        <balance>853593.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>20144794.80000000</valUSD>
        <pctVal>0.151090376752</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EP</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>Gladstone Investment Corporation</name>
        <lei>549300HFFTVIBC98Z362</lei>
        <title>Gladstone Investment Corporation 7.875% NOTES DUE FEB. 1, 2030</title>
        <cusip>376546867</cusip>
        <identifiers>
          <isin value="US3765468679"/>
          <ticker value="GAINI"/>
        </identifiers>
        <balance>372902.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>9449336.68000000</valUSD>
        <pctVal>0.070872096400</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EP</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>Spire Inc</name>
        <lei>549300NXSY15DRY2R511</lei>
        <title>Spire Inc 6.375% JUNIOR SUBORDINATED NOTES DUE 2086</title>
        <cusip>84857L705</cusip>
        <identifiers>
          <isin value="US84857L7055"/>
          <ticker value="SRJN"/>
        </identifiers>
        <balance>569030.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>13633958.80000000</valUSD>
        <pctVal>0.102257679572</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EP</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>The Allstate Corporation</name>
        <lei>OBT0W1ED8G0NWVOLOJ77</lei>
        <title>The Allstate Corporation DEPOSITARY SHARES EACH REPRESENTING A 1/1,000TH INTEREST IN A SHARE OF FIXED RATE NONCUMULATIVE PERPETUAL PREFERRED STOCK, SE</title>
        <cusip>020002788</cusip>
        <identifiers>
          <isin value="US0200027888"/>
          <ticker value="ALL J"/>
        </identifiers>
        <balance>1707179.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>43430633.76000000</valUSD>
        <pctVal>0.325739273223</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EP</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>Brookfield Fin I UK PLC / Brookfield Finance Inc.</name>
        <lei>213800JCKNPJE9FDCJ76</lei>
        <title>Brookfield Fin I UK PLC / Brookfield Finance Inc. 4.50% PERPETUAL SUBORDINATED NOTES</title>
        <cusip>11272B103</cusip>
        <identifiers>
          <isin value="US11272B1035"/>
          <ticker value="BNJ"/>
        </identifiers>
        <balance>654466.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>9515935.64000000</valUSD>
        <pctVal>0.071371603199</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EP</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>GB</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>Bip Bermuda Holdings I Limited</name>
        <lei>549300Y8SLOLKXX0MZ44</lei>
        <title>Bip Bermuda Holdings I Limited 5.125% PERPETUAL SUBORDINATED NOTES</title>
        <cusip>05554M100</cusip>
        <identifiers>
          <isin value="US05554M1009"/>
          <ticker value="BIPI"/>
        </identifiers>
        <balance>853593.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>13529449.05000000</valUSD>
        <pctVal>0.101473833539</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EP</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>BM</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>Albemarle Corp</name>
        <lei>HDBLS2Q6GV1LSKQPBS54</lei>
        <title>Albemarle Corp DEPOSITARY SHARES EACH REPRESENTING A 1/20TH INTEREST IN A SHARE OF 7.25% SERIES A MANDATORY CONVERTIBLE PREFERRED STOCK</title>
        <cusip>012653200</cusip>
        <identifiers>
          <isin value="US0126532003"/>
          <ticker value="ALBPA"/>
          <other otherDesc="SEDOL" value="BPCTR42"/>
        </identifiers>
        <balance>3272327.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>235116694.95000000</valUSD>
        <pctVal>1.763426749858</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EP</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>Arbor Realty Trust, Inc.</name>
        <lei>549300ASFUWYQO0RW077</lei>
        <title>Arbor Realty Trust, Inc. 6.25% SERIES E CUMULATIVE REDEEMABLE PREFERRED STOCK</title>
        <cusip>038923868</cusip>
        <identifiers>
          <isin value="US0389238686"/>
          <ticker value="ABR E"/>
        </identifiers>
        <balance>436784.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>7150154.08000000</valUSD>
        <pctVal>0.053627722918</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EP</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>Regions Financial Corporation</name>
        <lei>CW05CS5KW59QTC0DG824</lei>
        <title>Regions Financial Corporation DEPOSITARY SHARES EACH REPRESENTING A 1/40TH INTEREST IN A SHARE OF 5.700% FIXED-TO-FLOATING RATE NON-CUMULATIVE PERPETU</title>
        <cusip>7591EP704</cusip>
        <identifiers>
          <isin value="US7591EP7044"/>
          <ticker value="RF C"/>
        </identifiers>
        <balance>1422784.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>33435424.00000000</valUSD>
        <pctVal>0.250773009066</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EP</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>Saratoga Investment Corp.</name>
        <lei>54930023WJCWPAGSWE41</lei>
        <title>Saratoga Investment Corp. 7.50% NOTES DUE FEBRUARY 6, 2031</title>
        <cusip>80349A851</cusip>
        <identifiers>
          <isin value="US80349A8514"/>
          <ticker value="SAR"/>
        </identifiers>
        <balance>285950.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>7134452.50000000</valUSD>
        <pctVal>0.053509957626</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EP</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>DTE Energy Co.</name>
        <lei>549300IX8SD6XXD71I78</lei>
        <title>DTE Energy Co. 6.250% JUNIOR SUBORDINATED DEBENTURES DUE ON OCTOBER 1, 2085</title>
        <cusip>233331792</cusip>
        <identifiers>
          <isin value="US2333317921"/>
          <ticker value="DTK"/>
        </identifiers>
        <balance>1707179.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>40613788.41000000</valUSD>
        <pctVal>0.304612315643</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EP</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>Brookfield Infrastructure Finance ULC</name>
        <lei>984500CDDWC47U7DBA74</lei>
        <title>Brookfield Infrastructure Finance ULC 7.25% SUBORDINATED NOTES DUE MAY 31, 2084</title>
        <cusip>11276B208</cusip>
        <identifiers>
          <isin value="US11276B2088"/>
          <ticker value="BIPJ"/>
        </identifiers>
        <balance>449545.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>10186689.70000000</valUSD>
        <pctVal>0.076402405679</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EP</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>CA</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>Athene Holding Ltd</name>
        <lei>549300H316CT32FQXI76</lei>
        <title>Athene Holding Ltd 6.35%DEP 1/1000TH PERP NON CUM PFD SER A</title>
        <cusip>04686J861</cusip>
        <identifiers>
          <isin value="US04686J8615"/>
          <ticker value="ATH A"/>
        </identifiers>
        <balance>2454280.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>57994636.40000000</valUSD>
        <pctVal>0.434972485462</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EP</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>Associated Banc-Corp</name>
        <lei>549300N3CIN473IW5094</lei>
        <title>Associated Banc-Corp FIXED-RATE RESET SUBORDINATED NOTES DUE MARCH 1, 2033</title>
        <cusip>045487600</cusip>
        <identifiers>
          <isin value="US0454876006"/>
          <ticker value="ASBA"/>
        </identifiers>
        <balance>853593.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>20930100.36000000</valUSD>
        <pctVal>0.156980340591</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EP</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>JPMorgan Chase &amp; Co.</name>
        <lei>8I5DZWZKVSZI1NUHU748</lei>
        <title>JPMorgan Chase &amp; Co. DEPOSITARY SHARES, EACH REPRESENTING A 1/400TH INTEREST IN A SHARE OF JPMORGAN CHASE &amp; CO. 4.625% NON-CUMULATIVE PREFERRED STOCK,</title>
        <cusip>48128B549</cusip>
        <identifiers>
          <isin value="US48128B5497"/>
          <ticker value="JPM L"/>
        </identifiers>
        <balance>5264125.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>100650070.00000000</valUSD>
        <pctVal>0.754897587561</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EP</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>Public Storage</name>
        <lei>254900GLQZAD4N7N5Q19</lei>
        <title>Public Storage DEPOSITARY SHARES EACH REPRESENTING 1/1000 OF A 4.75% CUMULATIVE PREFERRED SHARE OF BENEFICIAL INTEREST SERIES K</title>
        <cusip>74460W578</cusip>
        <identifiers>
          <isin value="US74460W5783"/>
          <ticker value="PSA K"/>
        </identifiers>
        <balance>654458.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>11884957.28000000</valUSD>
        <pctVal>0.089139784790</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EP</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>Huntington Bancshares Incorporated</name>
        <lei>549300XTVCVV9I7B5T19</lei>
        <title>Huntington Bancshares Incorporated DEPOSITARY SHARES, EACH REPRESENTING A 1/40TH INTEREST IN A SHARE OF 4.500% SERIES H NON-CUMULATIVE PERPETUAL PREFE</title>
        <cusip>446150823</cusip>
        <identifiers>
          <isin value="US4461508230"/>
          <ticker value="HBANP"/>
        </identifiers>
        <balance>1469300.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>25036872.00000000</valUSD>
        <pctVal>0.187782028098</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EP</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>DigitalBridge Group Inc</name>
        <lei>549300XG87L902AGBO89</lei>
        <title>DigitalBridge Group Inc 7.15% SERIES I CUMULATIVE REDEEMABLE PERPETUAL PREFERRED STOCK</title>
        <cusip>25401T405</cusip>
        <identifiers>
          <isin value="US25401T4058"/>
          <ticker value="DBRG I"/>
        </identifiers>
        <balance>915309.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>14873771.25000000</valUSD>
        <pctVal>0.111556544715</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EP</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>Bank of America Corp.</name>
        <lei>9DJT3UXIJIZJI4WXO774</lei>
        <title>Bank of America Corp. DEPOSITARY SHARES,EACH REPRESENTING A 1/1,000TH INTEREST IN A SHARE OF 5.000% NON-CUMULATIVE PREFERRED STOCK, SERIES LL</title>
        <cusip>06055H202</cusip>
        <identifiers>
          <isin value="US06055H2022"/>
          <ticker value="BAC N"/>
        </identifiers>
        <balance>2522836.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>50885602.12000000</valUSD>
        <pctVal>0.381653170057</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EP</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>Two Harbors Investment Corp.</name>
        <lei>549300ZUIBT6KH4HU823</lei>
        <title>Two Harbors Investment Corp. SER C FIXED TO FLOATING RATE CUMULATIVE REDEEMABLE PREFERRED STOCK</title>
        <cusip>90187B507</cusip>
        <identifiers>
          <isin value="US90187B5075"/>
          <ticker value="TWO C"/>
        </identifiers>
        <balance>687261.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>17037200.19000000</valUSD>
        <pctVal>0.127782735990</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EP</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>Wells Fargo &amp; Co.</name>
        <lei>PBLD0EJDB5FWOLXP3B76</lei>
        <title>Wells Fargo &amp; Co. DEPOSITARY SHARES, EACH REPRESENTING A 1/1,000TH INTEREST IN A SHARE OF NON-CUMULATIVE PERPETUAL CLASS A PREFERRED STOCK, SERIES Z</title>
        <cusip>94988U151</cusip>
        <identifiers>
          <isin value="US94988U1512"/>
          <ticker value="WFC Z"/>
        </identifiers>
        <balance>5341747.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>101493193.00000000</valUSD>
        <pctVal>0.761221194874</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EP</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>Selective Insurance Group Inc.</name>
        <lei>549300R3WGJWLE40R258</lei>
        <title>Selective Insurance Group Inc. DEPOSITARY SHARES, EACH REPRESENTING A 1/1,000TH INTEREST IN A SHARE OF 4.60% NON-CUMULATIVE PREFERRED STOCK, SERIES B</title>
        <cusip>816300503</cusip>
        <identifiers>
          <isin value="US8163005031"/>
          <ticker value="SIGIP"/>
        </identifiers>
        <balance>569030.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>9002054.60000000</valUSD>
        <pctVal>0.067517382756</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EP</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>PINNACLE FINANCIAL PARTNERS INC</name>
        <lei>N/A</lei>
        <title>Pinnacle Financial Partners Inc. 6.75 DEP RP 1/40 NON SER C</title>
        <cusip>72348N505</cusip>
        <identifiers>
          <isin value="US72348N5059"/>
          <ticker value="PNFP C"/>
        </identifiers>
        <balance>640137.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>15984220.89000000</valUSD>
        <pctVal>0.119885160426</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EP</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>Popular Capital Trust II</name>
        <lei>N/A</lei>
        <title>Popular Capital Trust II 6.125% CUMULATIVE MONTHLY INCOME TRUST PREFERRED SECURITIES</title>
        <cusip>73317H206</cusip>
        <identifiers>
          <isin value="US73317H2067"/>
          <ticker value="BPOPM"/>
        </identifiers>
        <balance>297647.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>7372716.19000000</valUSD>
        <pctVal>0.055296987529</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EP</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>Morgan Stanley</name>
        <lei>IGJSJL3JD5P30I6NJZ34</lei>
        <title>Morgan Stanley DEPOSITARY SHARES, EACH REPRESENTING 1/1,000TH OWNERSHIP INTEREST IN A SHARE OF 4.250% NON-CUMULATIVE PREFERRED STOCK, SERIES O</title>
        <cusip>61762V861</cusip>
        <identifiers>
          <isin value="US61762V8616"/>
          <ticker value="MS O"/>
        </identifiers>
        <balance>3698992.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>63511692.64000000</valUSD>
        <pctVal>0.476351616604</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EP</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>Chimera Investment Corporation</name>
        <lei>2JBBQFJOL123LOUBE657</lei>
        <title>Chimera Investment Corporation 8.00% SERIES B FIXED-TO-FLOATING RATE CUMULATIVE REDEEMABLE PREFERRED STOCK</title>
        <cusip>16934Q406</cusip>
        <identifiers>
          <isin value="US16934Q4064"/>
          <ticker value="CIM B"/>
        </identifiers>
        <balance>924764.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>20196845.76000000</valUSD>
        <pctVal>0.151480770361</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EP</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>DILLARD'S CAPITAL TRUST I</name>
        <lei>N/A</lei>
        <title>Dillards Capital Trust I 7.50% CAPITAL SECURITIES</title>
        <cusip>25406P200</cusip>
        <identifiers>
          <isin value="US25406P2002"/>
          <ticker value="DDT"/>
        </identifiers>
        <balance>569030.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>14749257.60000000</valUSD>
        <pctVal>0.110622665046</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EP</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>Hudson Pacific Properties Inc</name>
        <lei>529900EURZA5HRSXQ389</lei>
        <title>Hudson Pacific Properties Inc 4.750% SERIES C CUMULATIVE REDEEMABLE PREFERRED STOCK</title>
        <cusip>444097307</cusip>
        <identifiers>
          <isin value="US4440973075"/>
          <ticker value="HPP C"/>
        </identifiers>
        <balance>1209328.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>15588237.92000000</valUSD>
        <pctVal>0.116915201351</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EP</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <loanByFundCondition isLoanByFund="Y" loanVal="127611.00000000"/>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>Ares Management Corporation</name>
        <lei>529900JUV61FH7B8VW38</lei>
        <title>Ares Management Corporation 6.75% SERIES B MANDATORY CONVERTIBLE PREFERRED STOCK</title>
        <cusip>03990B309</cusip>
        <identifiers>
          <isin value="US03990B3096"/>
          <ticker value="ARESPB"/>
        </identifiers>
        <balance>2134091.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>77211412.38000000</valUSD>
        <pctVal>0.579102517642</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EP</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>Chatham Lodging Trust</name>
        <lei>N/A</lei>
        <title>Chatham Lodging Trust 6.625% SERIES A CUMULATIVE REDEEMABLE PREFERRED SHARES OF BENEFICIAL INTEREST</title>
        <cusip>16208T201</cusip>
        <identifiers>
          <isin value="US16208T2015"/>
          <ticker value="CLDT A"/>
        </identifiers>
        <balance>341406.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>6828120.00000000</valUSD>
        <pctVal>0.051212396728</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EP</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>Bank of America Corp.</name>
        <lei>9DJT3UXIJIZJI4WXO774</lei>
        <title>Bank of America Corp. DEP SHS REP 1/1200TH PRF SE</title>
        <cusip>060505625</cusip>
        <identifiers>
          <isin value="US0605056250"/>
          <ticker value="BML H"/>
        </identifiers>
        <balance>542127.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>10446787.29000000</valUSD>
        <pctVal>0.078353194617</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EP</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>BROOKFIELD PROPERTY PARTNERS LP</name>
        <lei>5493004J5Z0TZW83NU62</lei>
        <title>Brookfield Property Partners LP 6.5%CM PFD UNITS CL A SR 1</title>
        <cusip>000000000</cusip>
        <identifiers>
          <isin value="BMG162491499"/>
          <ticker value="BPYPP"/>
          <other otherDesc="SEDOL" value="BJHJQ37"/>
        </identifiers>
        <balance>523617.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>8618735.82000000</valUSD>
        <pctVal>0.064642407882</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EP</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>BM</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>Affiliated Managers Group, Inc.</name>
        <lei>2JE75BUE3T1BLCYYGK54</lei>
        <title>Affiliated Managers Group, Inc. 4.200% JUNIOR SUBORDINATED NOTES DUE SEPTEMBER 30, 2061</title>
        <cusip>008252835</cusip>
        <identifiers>
          <isin value="US0082528359"/>
          <ticker value="MGRD"/>
        </identifiers>
        <balance>569022.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>8319101.64000000</valUSD>
        <pctVal>0.062395085852</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EP</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>Crescent Capital BDC, Inc.</name>
        <lei>549300VPIZMU6OEE0V68</lei>
        <title>Crescent Capital BDC, Inc. 5.00% NOTES DUE MAY 25, 2026</title>
        <cusip>225655208</cusip>
        <identifiers>
          <isin value="US2256552082"/>
          <ticker value="FCRX"/>
        </identifiers>
        <balance>317562.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>7913645.04000000</valUSD>
        <pctVal>0.059354072476</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EP</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>Public Storage</name>
        <lei>254900GLQZAD4N7N5Q19</lei>
        <title>Public Storage DEPOSITARY SHARES EACH REPRESENTING 1/1000 OF A 4.00% CUMULATIVE PREFERRED SHARE OF BENEFICIAL INTEREST, SERIES R</title>
        <cusip>74460W420</cusip>
        <identifiers>
          <isin value="US74460W4208"/>
          <ticker value="PSA R"/>
        </identifiers>
        <balance>1237833.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>18852196.59000000</valUSD>
        <pctVal>0.141395606838</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EP</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>Goldman Sachs Group, Inc.</name>
        <lei>784F5XWPLTWKTBV3E584</lei>
        <title>Goldman Sachs Group, Inc. 1/1000TH INTEREST IN A SHARE OF FLOATING RATE NON-CUMULATIVE PREFERRED STOCK, SERIES D</title>
        <cusip>38144G804</cusip>
        <identifiers>
          <isin value="US38144G8042"/>
          <ticker value="GS D"/>
        </identifiers>
        <balance>3841208.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>73213424.48000000</valUSD>
        <pctVal>0.549116732030</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EP</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>Algonquin Power &amp; Utilities Corporation</name>
        <lei>549300K5VIUTJXQL7X75</lei>
        <title>Algonquin Power &amp; Utilities Corporation FIXED-TO-FLOATING RATE SUBORDINATED NOTES SERIES 2019-A DUE JULY 1, 2079</title>
        <cusip>015857808</cusip>
        <identifiers>
          <isin value="US0158578080"/>
          <ticker value="AQNB"/>
        </identifiers>
        <balance>995871.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>25972315.68000000</valUSD>
        <pctVal>0.194798060748</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EP</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>CA</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>First Citizens BancShares Inc (Delaware)</name>
        <lei>549300N3Z00ZHE2XC526</lei>
        <title>First Citizens BancShares Inc (Delaware) DEPOSITARY SHARES, EACH REPRESENTING A 1/40TH INTEREST IN A SHARE OF 5.375% NON-CUMULATIVE PERPETUAL PREFERRE</title>
        <cusip>319626305</cusip>
        <identifiers>
          <isin value="US3196263053"/>
          <ticker value="FCNCP"/>
        </identifiers>
        <balance>981774.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>21186682.92000000</valUSD>
        <pctVal>0.158904766034</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EP</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>Brookfield Infrastructure Finance ULC</name>
        <lei>984500CDDWC47U7DBA74</lei>
        <title>Brookfield Infrastructure Finance ULC SUBORDINATED NOTES 05/24/2081</title>
        <cusip>11276B109</cusip>
        <identifiers>
          <isin value="US11276B1098"/>
          <ticker value="BIPH"/>
        </identifiers>
        <balance>711307.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>10740735.70000000</valUSD>
        <pctVal>0.080557872126</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EP</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>CA</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>Aspen Insurance Holdings Ltd.</name>
        <lei>549300YX6HECG9XQCQ75</lei>
        <title>Aspen Insurance Holdings Ltd. 5.625%NON CUM PERP PFD SHS</title>
        <cusip>000000000</cusip>
        <identifiers>
          <isin value="BMG053841620"/>
          <ticker value="AHL D"/>
          <other otherDesc="SEDOL" value="BD915N2"/>
        </identifiers>
        <balance>599326.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>12376081.90000000</valUSD>
        <pctVal>0.092823327095</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EP</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>BM</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>TRITON INTERNATIONAL LTD</name>
        <lei>N/A</lei>
        <title>Triton International Limited 7.625 % SERIES F CUMULATIVE REDEEMABLE PERPETUAL PREFERENCE SHARES</title>
        <cusip>000000000</cusip>
        <identifiers>
          <isin value="BMG9078F1648"/>
          <ticker value="TRTN F"/>
          <other otherDesc="SEDOL" value="BT9N284"/>
        </identifiers>
        <balance>426600.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>10136016.00000000</valUSD>
        <pctVal>0.076022341821</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EP</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>BM</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>Regency Centers Corp.</name>
        <lei>529900053A7X7FJ97S58</lei>
        <title>Regency Centers Corp. CUM RED PFD SER B 5.875%</title>
        <cusip>758849871</cusip>
        <identifiers>
          <isin value="US7588498714"/>
          <ticker value="REGCO"/>
        </identifiers>
        <balance>327230.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>7202332.30000000</valUSD>
        <pctVal>0.054019071005</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EP</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>CION Investment Corp.</name>
        <lei>549300XN70JLF94XKX80</lei>
        <title>CION Investment Corp. 7.50% NOTES DUE DECEMBER 30, 2029</title>
        <cusip>17259U303</cusip>
        <identifiers>
          <isin value="US17259U3032"/>
          <ticker value="CICB"/>
        </identifiers>
        <balance>448022.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>11101985.16000000</valUSD>
        <pctVal>0.083267322262</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EP</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>Public Storage</name>
        <lei>254900GLQZAD4N7N5Q19</lei>
        <title>Public Storage DEPOSITARY SHARES EACH REPRESENTING 1/1000 OF A 3.950% CUMULATIVE PREFERRED SHARE OF BENEFICIAL INTEREST, SERIES Q</title>
        <cusip>74460W446</cusip>
        <identifiers>
          <isin value="US74460W4463"/>
          <ticker value="PSA Q"/>
        </identifiers>
        <balance>432772.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>6487252.28000000</valUSD>
        <pctVal>0.048655814109</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EP</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>Associated Banc-Corp</name>
        <lei>549300N3CIN473IW5094</lei>
        <title>Associated Banc-Corp DEP SHS REP 1/40TH INT SHS 5.875% NON CUM PER PFD SER E</title>
        <cusip>045487204</cusip>
        <identifiers>
          <isin value="US0454872047"/>
          <ticker value="ASB E"/>
        </identifiers>
        <balance>284548.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>5907216.48000000</valUSD>
        <pctVal>0.044305418465</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EP</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>Two Harbors Investment Corp.</name>
        <lei>549300ZUIBT6KH4HU823</lei>
        <title>Two Harbors Investment Corp. 7.625% SERIES B FIXED-TO-FLOATING RATE CUMULATIVE REDEEMABLE PREFERRED STOCK</title>
        <cusip>90187B309</cusip>
        <identifiers>
          <isin value="US90187B3096"/>
          <ticker value="TWO B"/>
        </identifiers>
        <balance>722673.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>18052371.54000000</valUSD>
        <pctVal>0.135396743641</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EP</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>Public Storage</name>
        <lei>254900GLQZAD4N7N5Q19</lei>
        <title>Public Storage DEPOSITARY SHARES EACH REPRESENTING 1/1000 OF A 5.05% CUMULATIVE PREFERRED SHARE OF BENEFICIAL INTEREST, SERIES G</title>
        <cusip>74460W669</cusip>
        <identifiers>
          <isin value="US74460W6690"/>
          <ticker value="PSA G"/>
        </identifiers>
        <balance>853593.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>16499952.69000000</valUSD>
        <pctVal>0.123753261975</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EP</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>Southern Co.</name>
        <lei>549300FC3G3YU2FBZD92</lei>
        <title>Southern Co. CALLABLE JUNIOR SUBORDINATED NOTES DUE MARCH 15, 2085</title>
        <cusip>842587867</cusip>
        <identifiers>
          <isin value="US8425878670"/>
          <ticker value="SOJF"/>
        </identifiers>
        <balance>1607735.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>40016524.15000000</valUSD>
        <pctVal>0.300132702773</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EP</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>Digital Realty Trust Inc.</name>
        <lei>549300HKCZ31D08NEI41</lei>
        <title>Digital Realty Trust Inc. 5.200% SERIES L CUMULATIVE REDEEMABLE PREFERRED STOCK</title>
        <cusip>253868822</cusip>
        <identifiers>
          <isin value="US2538688225"/>
          <ticker value="DLR L"/>
        </identifiers>
        <balance>981775.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>19046435.00000000</valUSD>
        <pctVal>0.142852437491</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EP</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>U.S. Bancorp.</name>
        <lei>N1GZ7BBF3NP8GI976H15</lei>
        <title>U.S. Bancorp. 1/1000TH OF SERIES B NON-CUMULATIVE PERPETUAL PREFERRED STOCK</title>
        <cusip>902973155</cusip>
        <identifiers>
          <isin value="US9029731554"/>
          <ticker value="USB H"/>
        </identifiers>
        <balance>2845415.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>52014186.20000000</valUSD>
        <pctVal>0.390117798043</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EP</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>Morgan Stanley</name>
        <lei>IGJSJL3JD5P30I6NJZ34</lei>
        <title>Morgan Stanley FIXED-TO-FLOATING RATE NON-CUMULATIVE PREFERRED STOCK, SERIES I</title>
        <cusip>61761J406</cusip>
        <identifiers>
          <isin value="US61761J4067"/>
          <ticker value="MS I"/>
        </identifiers>
        <balance>2845407.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>69883195.92000000</valUSD>
        <pctVal>0.524139287842</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EP</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>BROOKFIELD RENEWABLE PARTNERS LP</name>
        <lei>VA8DFMRI2GY8Y7V79H93</lei>
        <title>Brookfield Renewable Partners L P 5.25% CLASS A PREFERRED LIMITED PARTNERSHIP UNITS, SERIES 17</title>
        <cusip>000000000</cusip>
        <identifiers>
          <isin value="BMG162582313"/>
          <ticker value="BEP A"/>
          <other otherDesc="SEDOL" value="BL0FH99"/>
        </identifiers>
        <balance>567350.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>9826502.00000000</valUSD>
        <pctVal>0.073700918975</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EP</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>BM</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>UMH Properties Inc</name>
        <lei>529900OM5K3PJ11F0Q09</lei>
        <title>UMH Properties Inc 6.375% CUMULATIVE REDEEMABLE PREFERRED STOCK SER D</title>
        <cusip>903002509</cusip>
        <identifiers>
          <isin value="US9030025095"/>
          <ticker value="UMH D"/>
        </identifiers>
        <balance>915876.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>19013585.76000000</valUSD>
        <pctVal>0.142606060990</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EP</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>U.S. Bancorp.</name>
        <lei>N1GZ7BBF3NP8GI976H15</lei>
        <title>U.S. Bancorp. DEPOSITARY SHARES, EACH REPRESENTING 1/1,000TH INTEREST IN A SHARE OF SERIES O NON-CUMULATIVE PERPETUAL PREFERRED STOCK</title>
        <cusip>902973668</cusip>
        <identifiers>
          <isin value="US9029736686"/>
          <ticker value="USB S"/>
        </identifiers>
        <balance>1280506.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>22216779.10000000</valUSD>
        <pctVal>0.166630713182</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EP</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>First Citizens BancShares Inc (Delaware)</name>
        <lei>549300N3Z00ZHE2XC526</lei>
        <title>First Citizens BancShares Inc (Delaware) 5.625% NON-CUM PERPETUAL PFD STK SER C</title>
        <cusip>31959X202</cusip>
        <identifiers>
          <isin value="US31959X2027"/>
          <ticker value="FCNCO"/>
        </identifiers>
        <balance>569030.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>12063436.00000000</valUSD>
        <pctVal>0.090478414313</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EP</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>Jackson Financial Inc</name>
        <lei>213800WXW2KG1N4CO374</lei>
        <title>Jackson Financial Inc DEPOSITARY SHARES, EACH REPRESENTING A 1/1,000TH INTEREST IN A SHARE OF FIXED-RATE RESET NONCUMULATIVE PERPETUAL PREFERRED STOCK</title>
        <cusip>46817M206</cusip>
        <identifiers>
          <isin value="US46817M2061"/>
          <ticker value="JXN A"/>
        </identifiers>
        <balance>1595031.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>39796023.45000000</valUSD>
        <pctVal>0.298478899189</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EP</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>Pebblebrook Hotel Trust</name>
        <lei>5493004Q1NNH6JXCSI52</lei>
        <title>Pebblebrook Hotel Trust 6.375% SERIES G CUMULATIVE REDEEMABLE PREFERRED SHARES OF BENEFICIAL INTEREST</title>
        <cusip>70509V803</cusip>
        <identifiers>
          <isin value="US70509V8037"/>
          <ticker value="PEB G"/>
        </identifiers>
        <balance>654467.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>12696659.80000000</valUSD>
        <pctVal>0.095227731616</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EP</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>JPMorgan Chase &amp; Co.</name>
        <lei>8I5DZWZKVSZI1NUHU748</lei>
        <title>JPMorgan Chase &amp; Co. DEPOSITARY SHARES EACH REP 1/400TH INTEREST IN A SHARE OF JP MORGAN CHASE &amp; CO 6% NON CUM PFD STOCK SER EE</title>
        <cusip>48128B648</cusip>
        <identifiers>
          <isin value="US48128B6487"/>
          <ticker value="JPM C"/>
        </identifiers>
        <balance>5264125.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>130602941.25000000</valUSD>
        <pctVal>0.979550687625</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EP</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>Kimco Realty Corporation</name>
        <lei>254900ARY41P4V1JL861</lei>
        <title>Kimco Realty Corporation DEPOSITARY SHARES EACH REPRESENTING 1/1000 OF A SHARE OF 5.125% CLASS L CUMULATIVE REDEEMABLE PREFERRED STOCK</title>
        <cusip>49446R737</cusip>
        <identifiers>
          <isin value="US49446R7373"/>
          <ticker value="KIM L"/>
        </identifiers>
        <balance>633230.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>12265665.10000000</valUSD>
        <pctVal>0.091995176891</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EP</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>T-Mobile USA, Inc.</name>
        <lei>549300V2JRLO5DIFGE82</lei>
        <title>T-Mobile USA, Inc. 5.500% SENIOR NOTES ISSUED DUE ON MARCH 1, 2070</title>
        <cusip>87264A204</cusip>
        <identifiers>
          <isin value="US87264A2042"/>
          <ticker value="TMUSZ"/>
        </identifiers>
        <balance>1140484.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>24235285.00000000</valUSD>
        <pctVal>0.181769949890</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EP</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>Public Storage</name>
        <lei>254900GLQZAD4N7N5Q19</lei>
        <title>Public Storage DEPOSITARY SHARES EACH REPRESENTING 1/1000 OF A 4.100% CUMULATIVE PREFERRED SHARE OF BENEFICIAL INTEREST SERIES S</title>
        <cusip>74460W396</cusip>
        <identifiers>
          <isin value="US74460W3960"/>
          <ticker value="PSA S"/>
        </identifiers>
        <balance>711307.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>11231537.53000000</valUSD>
        <pctVal>0.084238993435</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EP</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>Granite Point Mortgage Trust Inc</name>
        <lei>529900VX2HQZ76AYIE02</lei>
        <title>Granite Point Mortgage Trust Inc 7.00% SERIES A FIXED-TO-FLOATING RATE CUMULATIVE REDEEMABLE PREFERRED STOCK</title>
        <cusip>38741L305</cusip>
        <identifiers>
          <isin value="US38741L3050"/>
          <ticker value="GPMT A"/>
        </identifiers>
        <balance>585482.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>10626498.30000000</valUSD>
        <pctVal>0.079701066585</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EP</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>Trinity Capital Inc.</name>
        <lei>549300YGT4SBRQYDVU48</lei>
        <title>Trinity Capital Inc. 7.875% NOTES DUE SEPTEMBER 30, 2029</title>
        <cusip>896442704</cusip>
        <identifiers>
          <isin value="US8964427046"/>
          <ticker value="TRINI"/>
        </identifiers>
        <balance>350715.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>8750339.25000000</valUSD>
        <pctVal>0.065629462455</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EP</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>Stifel Financial Corporation</name>
        <lei>549300E5F07FE5GHJX84</lei>
        <title>Stifel Financial Corporation DEPOSITARY SHARES, EACH REPRESENTING A 1/1000TH INTEREST IN A SHARE OF 6.25% NON-CUMULATIVE PREFERRED STOCK SERIES B</title>
        <cusip>860630706</cusip>
        <identifiers>
          <isin value="US8606307069"/>
          <ticker value="SF B"/>
        </identifiers>
        <balance>455178.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>10651165.20000000</valUSD>
        <pctVal>0.079886073742</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EP</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>TRITON INTERNATIONAL LTD</name>
        <lei>N/A</lei>
        <title>Triton International Limited 5.75% SERIES E CUMULATIVE REDEEMABLE PERPETUAL PREFERENCE SHARES</title>
        <cusip>000000000</cusip>
        <identifiers>
          <isin value="BMG9078F1564"/>
          <ticker value="TRTN E"/>
          <other otherDesc="SEDOL" value="BLCGQK4"/>
        </identifiers>
        <balance>515680.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>9364748.80000000</valUSD>
        <pctVal>0.070237668759</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EP</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>BM</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>Public Storage</name>
        <lei>254900GLQZAD4N7N5Q19</lei>
        <title>Public Storage DEPOSITARY SHARES EACH REPRESENTING 1/1000 OF A 5.15% CUMULATIVE PREFERRED SHARE OF BENEFICIAL INTEREST, SERIES F</title>
        <cusip>74460W685</cusip>
        <identifiers>
          <isin value="US74460W6856"/>
          <ticker value="PSA F"/>
        </identifiers>
        <balance>796815.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>15625542.15000000</valUSD>
        <pctVal>0.117194991254</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EP</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <loanByFundCondition isLoanByFund="Y" loanVal="152958.00000000"/>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>SCE Trust II</name>
        <lei>N/A</lei>
        <title>SCE Trust II 5.10% TRUST PREFERENCE SECURITIES</title>
        <cusip>78407R204</cusip>
        <identifiers>
          <isin value="US78407R2040"/>
          <ticker value="SCE G"/>
        </identifiers>
        <balance>626032.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>10999382.24000000</valUSD>
        <pctVal>0.082497777871</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EP</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>Capital One Financial Corp.</name>
        <lei>ZUE8T73ROZOF6FLBAR73</lei>
        <title>Capital One Financial Corp. DEPOSITARY SHARES EACH REPRESENTING A 1/40TH INTEREST IN A SHARE OF FIXED RATE NON-CUMULATIVE PERPETUAL PREFERRED STOCK, S</title>
        <cusip>14040H782</cusip>
        <identifiers>
          <isin value="US14040H7825"/>
          <ticker value="COF J"/>
        </identifiers>
        <balance>3556848.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>63418599.84000000</valUSD>
        <pctVal>0.475653400198</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EP</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>MFA Financial Inc.</name>
        <lei>YW72IMH2RRC8Z1TGLG58</lei>
        <title>MFA Financial Inc. 8.875% SENIOR NOTES DUE FEBRUARY 15, 2029</title>
        <cusip>55272X706</cusip>
        <identifiers>
          <isin value="US55272X7066"/>
          <ticker value="MFAN"/>
        </identifiers>
        <balance>329075.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>8210421.25000000</valUSD>
        <pctVal>0.061579959104</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EP</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>ACRES Commercial Realty Corp</name>
        <lei>549300RUJWPCMY4JFR46</lei>
        <title>ACRES Commercial Realty Corp 8.625% FIXED-TO-FLOATING SERIES C CUMULATIVE REDEEMABLE PREFERRED STOCK</title>
        <cusip>00489Q201</cusip>
        <identifiers>
          <isin value="US00489Q2012"/>
          <ticker value="ACR C"/>
        </identifiers>
        <balance>339575.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>8506353.75000000</valUSD>
        <pctVal>0.063799517723</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EP</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>Brighthouse Financial Inc.</name>
        <lei>5493003T8SZSHOGGAW52</lei>
        <title>Brighthouse Financial Inc. DEPOSITARY SHARES EACH REPRESENTING A 1/1,000 TH INTEREST IN A SHARE OF THE ISSUERS 5.375% NON-CUMULATIVE PREFERRED STOCK,</title>
        <cusip>10922N707</cusip>
        <identifiers>
          <isin value="US10922N7075"/>
          <ticker value="BHFAN"/>
        </identifiers>
        <balance>1636055.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>19632660.00000000</valUSD>
        <pctVal>0.147249253491</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EP</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>Bank of America Corp.</name>
        <lei>9DJT3UXIJIZJI4WXO774</lei>
        <title>Bank of America Corp. 6.45% FIXED/FLOAT JUNIOR SUBORDINATED NOTES DUE 2066.</title>
        <cusip>060505179</cusip>
        <identifiers>
          <isin value="US0605051798"/>
          <ticker value="MER K"/>
        </identifiers>
        <balance>2035853.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>52056761.21000000</valUSD>
        <pctVal>0.390437119951</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EP</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>Merchants Bancorp. (Indiana)</name>
        <lei>54930008Y0GPVLF81889</lei>
        <title>Merchants Bancorp. (Indiana) DEP SHS REPSTG 1/40TH PERP PFD SER C</title>
        <cusip>58844R702</cusip>
        <identifiers>
          <isin value="US58844R7026"/>
          <ticker value="MBINN"/>
        </identifiers>
        <balance>558250.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>10718400.00000000</valUSD>
        <pctVal>0.080390349480</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EP</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>Valley National Bancorp.</name>
        <lei>549300ET52S1UBIB9762</lei>
        <title>Valley National Bancorp. 6.25% FIXED-TO-FLOATING RATE NON-CUMULATIVE PERPETUAL PREFERRED STOCK, SERIES A</title>
        <cusip>919794206</cusip>
        <identifiers>
          <isin value="US9197942066"/>
          <ticker value="VLYPP"/>
        </identifiers>
        <balance>327221.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>8131441.85000000</valUSD>
        <pctVal>0.060987596292</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EP</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <loanByFundCondition isLoanByFund="Y" loanVal="203770.00000000"/>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>Chimera Investment Corporation</name>
        <lei>2JBBQFJOL123LOUBE657</lei>
        <title>Chimera Investment Corporation 7.75% SER C FIXED TO FLOAT CUM RED PFD STOCK</title>
        <cusip>16934Q505</cusip>
        <identifiers>
          <isin value="US16934Q5053"/>
          <ticker value="CIM C"/>
        </identifiers>
        <balance>739813.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>14589112.36000000</valUSD>
        <pctVal>0.109421540642</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EP</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>Morgan Stanley</name>
        <lei>IGJSJL3JD5P30I6NJZ34</lei>
        <title>Morgan Stanley DEPOSITARY SHARES EACH REPRESENTING 1/1,000TH OF A SHARE OF 4.875% NON-CUMULATIVE PREFERRED STOCK SERIES L</title>
        <cusip>61762V804</cusip>
        <identifiers>
          <isin value="US61762V8046"/>
          <ticker value="MS L"/>
        </identifiers>
        <balance>1422784.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>28114211.84000000</valUSD>
        <pctVal>0.210862751453</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EP</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>Entergy Louisiana LLC</name>
        <lei>0V5453U14HDZO63CGH17</lei>
        <title>Entergy Louisiana LLC COLLATERAL TRUST MORTGAGE BONDS, 4.875% SERIES DUE SEPTEMBER 1, 2066</title>
        <cusip>29364W108</cusip>
        <identifiers>
          <isin value="US29364W1080"/>
          <ticker value="ELC"/>
        </identifiers>
        <balance>768318.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>15481607.70000000</valUSD>
        <pctVal>0.116115451328</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EP</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>KeyCorp</name>
        <lei>RKPI3RZGV1V1FJTH5T61</lei>
        <title>KeyCorp DEPOSITARY SHARES EACH REPRESENTING A 1/40TH OWNERSHIP INTEREST IN A SHARE OF FIXED-TO-FLOATING RATE PERPETUAL NON-CUMULATIVE PREFERRED STOCK,</title>
        <cusip>493267702</cusip>
        <identifiers>
          <isin value="US4932677028"/>
          <ticker value="KEY I"/>
        </identifiers>
        <balance>1422784.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>35142764.80000000</valUSD>
        <pctVal>0.263578439317</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EP</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <loanByFundCondition isLoanByFund="Y" loanVal="113620.00000000"/>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>First Horizon Corporation</name>
        <lei>TF3RXI1ZB1TQ30H9JV10</lei>
        <title>First Horizon Corporation DEPOSITARY SHARES EACH REPRESENTING 1/4,000TH INTEREST IN A SHARE OF NON-CUMULATIVE PERPETUAL PREFERRED STOCK, SERIES E</title>
        <cusip>320517402</cusip>
        <identifiers>
          <isin value="US3205174028"/>
          <ticker value="FHN E"/>
        </identifiers>
        <balance>426913.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>10134914.62000000</valUSD>
        <pctVal>0.076014081229</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EP</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>Bank of America Corp.</name>
        <lei>9DJT3UXIJIZJI4WXO774</lei>
        <title>Bank of America Corp. DEP SHS REP 1/1200 PFD 4</title>
        <cusip>060505591</cusip>
        <identifiers>
          <isin value="US0605055914"/>
          <ticker value="BML J"/>
        </identifiers>
        <balance>370379.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>7055719.95000000</valUSD>
        <pctVal>0.052919446243</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EP</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>First Horizon Corporation</name>
        <lei>TF3RXI1ZB1TQ30H9JV10</lei>
        <title>First Horizon Corporation DEPOSITARY SHARES EACH REPRESENTING A 1/4,000TH OWNERSHIP INTEREST IN A SHARE OF NON-CUMULATIVE PERPETUAL PREFERRED STOCK, S</title>
        <cusip>320517865</cusip>
        <identifiers>
          <isin value="US3205178656"/>
          <ticker value="FHN F"/>
        </identifiers>
        <balance>442050.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>7576737.00000000</valUSD>
        <pctVal>0.056827188325</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EP</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>QVC, Inc.</name>
        <lei>549300WBLU5NKPX5X472</lei>
        <title>QVC, Inc. 6.25% SENIOR SECURED NOTES DUE NOVEMBER 26, 2068</title>
        <cusip>747262400</cusip>
        <identifiers>
          <isin value="US7472624003"/>
          <ticker value="QVCC"/>
        </identifiers>
        <balance>1423492.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>14960900.92000000</valUSD>
        <pctVal>0.112210036339</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EP</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>QXO Inc</name>
        <lei>N/A</lei>
        <title>QXO Inc DEPOSITARY SHARES EACH REPRESENTING A 1/20TH INTEREST IN A SHARE OF 5.50% SERIES B MANDATORY CONVERTIBLE PREFERRED STOCK</title>
        <cusip>82846H504</cusip>
        <identifiers>
          <isin value="US82846H5046"/>
          <ticker value="QXOPB"/>
        </identifiers>
        <balance>818040.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>44984019.60000000</valUSD>
        <pctVal>0.337390007526</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EP</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>Aegon Funding Company LLC</name>
        <lei>KEIOKM01PSK5VZ5CCI74</lei>
        <title>Aegon Funding Company LLC 5.10% SUBORDINATED NOTES DUE DECEMBER 15, 2049</title>
        <cusip>00775V104</cusip>
        <identifiers>
          <isin value="US00775V1044"/>
          <ticker value="AEFC"/>
        </identifiers>
        <balance>2631951.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>49875471.45000000</valUSD>
        <pctVal>0.374076968610</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EP</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>U.S. Bancorp.</name>
        <lei>N1GZ7BBF3NP8GI976H15</lei>
        <title>U.S. Bancorp. DEPOSITARY SHARES EACH REPRESENTING 1/1,000TH INTEREST IN A SHARE OF SERIES M NON-CUMULATIVE PERPETUAL PREFERRED STOCK</title>
        <cusip>902973718</cusip>
        <identifiers>
          <isin value="US9029737189"/>
          <ticker value="USB R"/>
        </identifiers>
        <balance>2134099.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>33291944.40000000</valUSD>
        <pctVal>0.249696880616</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EP</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>Rithm Capital Corp.</name>
        <lei>549300WNTHGEO5LP2G31</lei>
        <title>Rithm Capital Corp. 8.75% SERIES F FIXED-RATE RESET CUMULATIVE REDEEMABLE PREFERRED STOCK</title>
        <cusip>64828T888</cusip>
        <identifiers>
          <isin value="US64828T8889"/>
          <ticker value="RITM F"/>
        </identifiers>
        <balance>711308.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>17028713.52000000</valUSD>
        <pctVal>0.127719084105</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EP</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>The Allstate Corporation</name>
        <lei>OBT0W1ED8G0NWVOLOJ77</lei>
        <title>The Allstate Corporation DEP SHS REP 1/1000 NON CUM</title>
        <cusip>020002838</cusip>
        <identifiers>
          <isin value="US0200028381"/>
          <ticker value="ALL H"/>
        </identifiers>
        <balance>3272311.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>64693588.47000000</valUSD>
        <pctVal>0.485216094401</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EP</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>Digital Realty Trust Inc.</name>
        <lei>549300HKCZ31D08NEI41</lei>
        <title>Digital Realty Trust Inc. 5.25% SERIES J CUMULATIVE REDEEMABLE PREFERRED STOCK</title>
        <cusip>253868855</cusip>
        <identifiers>
          <isin value="US2538688555"/>
          <ticker value="DLR J"/>
        </identifiers>
        <balance>569030.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>11528547.80000000</valUSD>
        <pctVal>0.086466635565</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EP</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <loanByFundCondition isLoanByFund="Y" loanVal="1256.12000000"/>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>Prudential Financial, Inc.</name>
        <lei>5PRBRS5FEH7NREC8OR45</lei>
        <title>Prudential Financial, Inc. 5.625% JUNIOR SUBORDINATED NOTES DUE 2058</title>
        <cusip>744320805</cusip>
        <identifiers>
          <isin value="US7443208050"/>
          <ticker value="PRS"/>
        </identifiers>
        <balance>1626308.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>36624456.16000000</valUSD>
        <pctVal>0.274691449304</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EP</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>Vornado Realty Trust</name>
        <lei>N/A</lei>
        <title>Vornado Realty Trust 5.25% SERIES N CUMULATIVE REDEEMABLE PREFERRED SHARES OF BENEFICIAL INTEREST</title>
        <cusip>929042810</cusip>
        <identifiers>
          <isin value="US9290428104"/>
          <ticker value="VNO N"/>
        </identifiers>
        <balance>853594.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>13870902.50000000</valUSD>
        <pctVal>0.104034809260</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EP</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>Bruker Corporation</name>
        <lei>LEBZ6VLQ6I8XB1NHVY15</lei>
        <title>Bruker Corporation 6.375% MANDATORY CONVERTIBLE PREFERRED STOCK, SERIES A</title>
        <cusip>116794207</cusip>
        <identifiers>
          <isin value="US1167942077"/>
          <ticker value="BRKR"/>
        </identifiers>
        <balance>196387.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>55430230.75000000</valUSD>
        <pctVal>0.415738880967</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EP</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>Northern Trust Corporation</name>
        <lei>549300GLF98S992BC502</lei>
        <title>Northern Trust Corporation DEPOSITARY SHARES EACH REPRESENTING A 1/1,000TH INTEREST IN A SHARE OF SERIES E NON-CUMULATIVE PERPETUAL PREFERRED STOCK</title>
        <cusip>665859856</cusip>
        <identifiers>
          <isin value="US6658598569"/>
          <ticker value="NTRSO"/>
        </identifiers>
        <balance>1138204.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>21284414.80000000</valUSD>
        <pctVal>0.159637776557</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EP</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>Soluna Holdings Inc</name>
        <lei>N/A</lei>
        <title>Soluna Holdings Inc 9.0% SERIES A CUMULATIVE PERPETUAL PREFERRED STOCK</title>
        <cusip>583543202</cusip>
        <identifiers>
          <isin value="US5835432023"/>
          <ticker value="SLNHP"/>
        </identifiers>
        <balance>372988.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>2890657.00000000</valUSD>
        <pctVal>0.021680561133</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EP</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>TRITON INTERNATIONAL LTD</name>
        <lei>N/A</lei>
        <title>Triton International Limited 6.875% SERIES D CUMULATIVE REDEEMABLE PERPETUAL PREFERENCE SHARES</title>
        <cusip>000000000</cusip>
        <identifiers>
          <isin value="BMG9078F2067"/>
          <ticker value="TRTN D"/>
          <other otherDesc="SEDOL" value="BMTQTF0"/>
        </identifiers>
        <balance>426913.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>9584196.85000000</valUSD>
        <pctVal>0.071883577237</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EP</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>BM</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>MetLife Inc.</name>
        <lei>C4BXATY60WC6XEOZDX54</lei>
        <title>MetLife Inc. FLOATING RATE NON-CUMULATIVE PREFERRED STOCK, SERIES A</title>
        <cusip>59156R504</cusip>
        <identifiers>
          <isin value="US59156R5046"/>
          <ticker value="MET A"/>
        </identifiers>
        <balance>1707179.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>35372748.88000000</valUSD>
        <pctVal>0.265303370329</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EP</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>Bank of America Corp.</name>
        <lei>9DJT3UXIJIZJI4WXO774</lei>
        <title>Bank of America Corp. DEPOSITARY SHARES, EACH REPRESENTING A 1/1,000TH INTEREST IN A SHARE OF BANK OF AMERICA CORPORATION 4.250% NON-CUMULATIVE PREFER</title>
        <cusip>06055H806</cusip>
        <identifiers>
          <isin value="US06055H8060"/>
          <ticker value="BAC Q"/>
        </identifiers>
        <balance>2508305.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>42641185.00000000</valUSD>
        <pctVal>0.319818234475</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EP</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>Brookfield Infrastructure Partners LP</name>
        <lei>549300WEH5R2OODI7Y90</lei>
        <title>Brookfield Infrastructure Partners LP 5.125% CLASS A PREFERRED LIMITED PARTNERSHIP UNITS, SERIES 13</title>
        <cusip>000000000</cusip>
        <identifiers>
          <isin value="USG162522670"/>
          <ticker value="BIP A"/>
          <other otherDesc="SEDOL" value="BL55WZ5"/>
        </identifiers>
        <balance>569030.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>9189834.50000000</valUSD>
        <pctVal>0.068925773167</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EP</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>BM</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>MAIDEN HOLDINGS NORTH AMERICA LTD</name>
        <lei>N/A</lei>
        <title>Maiden Holdings North America, Ltd. 7.75 % SENIOR UNSECURED NOTES DUE DECEMBER 1, 2043</title>
        <cusip>56029Q408</cusip>
        <identifiers>
          <isin value="US56029Q4082"/>
          <ticker value="MHNC"/>
        </identifiers>
        <balance>445765.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>5344722.35000000</valUSD>
        <pctVal>0.040086589191</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EP</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>CNO Financial Group, Inc.</name>
        <lei>11XPYHB76MPM4Y4P2897</lei>
        <title>CNO Financial Group, Inc. 5.125% SUBORDINATED DEBENTURES DUE NOVEMBER 25, 2060</title>
        <cusip>12621E301</cusip>
        <identifiers>
          <isin value="US12621E3018"/>
          <ticker value="CNO A"/>
        </identifiers>
        <balance>442100.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>7944537.00000000</valUSD>
        <pctVal>0.059585768947</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EP</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>Rithm Capital Corp.</name>
        <lei>549300WNTHGEO5LP2G31</lei>
        <title>Rithm Capital Corp. 7.50% SERIES A FIXED-TO-FLOATING RATE CUMULATIVE REDEEMABLE PREFERRED STOCK</title>
        <cusip>64828T300</cusip>
        <identifiers>
          <isin value="US64828T3005"/>
          <ticker value="RITM A"/>
        </identifiers>
        <balance>299503.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>7415095.27000000</valUSD>
        <pctVal>0.055614839918</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EP</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>TRITON INTERNATIONAL LTD</name>
        <lei>N/A</lei>
        <title>Triton International Limited 8.00% SERIES B CUMULATIVE REDEEMABLE PERPETUAL PREFERENCE SHARES</title>
        <cusip>000000000</cusip>
        <identifiers>
          <isin value="BMG9078F1317"/>
          <ticker value="TRTN B"/>
          <other otherDesc="SEDOL" value="BJK4N72"/>
        </identifiers>
        <balance>409065.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>10185718.50000000</valUSD>
        <pctVal>0.076395121466</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EP</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>BM</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>Fulton Financial Corporation</name>
        <lei>5493005QLZ6O1BNC0C11</lei>
        <title>Fulton Financial Corporation DEPOSITARY SHARES, EACH REPRESENTING A 1/40TH INTEREST IN A SHARE OF FIXED RATE NON-CUMULATIVE PERPETUAL PREFERRED STOCK,</title>
        <cusip>360271308</cusip>
        <identifiers>
          <isin value="US3602713089"/>
          <ticker value="FULTP"/>
        </identifiers>
        <balance>596327.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>10608657.33000000</valUSD>
        <pctVal>0.079567255399</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EP</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>Midland States Bancorp Inc.</name>
        <lei>5493006RHXW9TTBWYC94</lei>
        <title>Midland States Bancorp Inc. DEPOSITARY SHARES, EACH REPRESENTING A 1/40TH INTEREST IN A SHARE OF 7.750% FIXED-RATE RESET NON-CUMULATIVE PERPETUAL PREF</title>
        <cusip>597742303</cusip>
        <identifiers>
          <isin value="US5977423038"/>
          <ticker value="MSBIP"/>
        </identifiers>
        <balance>327222.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>7967855.70000000</valUSD>
        <pctVal>0.059760664309</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EP</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>Strategy Inc.</name>
        <lei>549300WQTWEJUEHXQX21</lei>
        <title>Strategy Inc. VARIABLE RATE SERIES A PERPETUAL STRETCH PREFERRED STOCK</title>
        <cusip>594972853</cusip>
        <identifiers>
          <isin value="US5949728530"/>
          <ticker value="STRC"/>
        </identifiers>
        <balance>1992592.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>199299051.84000000</valUSD>
        <pctVal>1.494786575282</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EP</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <loanByFundCondition isLoanByFund="Y" loanVal="80506098.00000000"/>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>Gladstone Investment Corporation</name>
        <lei>549300HFFTVIBC98Z362</lei>
        <title>Gladstone Investment Corporation 5.00% NOTES DUE MAY 1, 2026</title>
        <cusip>376546800</cusip>
        <identifiers>
          <isin value="US3765468000"/>
          <ticker value="GAINN"/>
        </identifiers>
        <balance>364057.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>9174236.40000000</valUSD>
        <pctVal>0.068808783998</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EP</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>Chimera Investment Corporation</name>
        <lei>2JBBQFJOL123LOUBE657</lei>
        <title>Chimera Investment Corporation NOTES ISSUED DUE ON AUGUST 15, 2030</title>
        <cusip>16934Q869</cusip>
        <identifiers>
          <isin value="US16934Q8693"/>
          <ticker value="CIMP"/>
        </identifiers>
        <balance>339564.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>8305735.44000000</valUSD>
        <pctVal>0.062294836422</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EP</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>TransCanada Pipelines Limited</name>
        <lei>5BV01I6231JPDAPMGH09</lei>
        <title>TransCanada Pipelines Limited CALLABLE JUNIOR SUBORDINATED NOTES DUE 01 NOV 2085</title>
        <cusip>893526681</cusip>
        <identifiers>
          <isin value="US8935266812"/>
          <ticker value="TCPA"/>
        </identifiers>
        <balance>1052874.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>24974171.28000000</valUSD>
        <pctVal>0.187311758954</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EP</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>CA</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>Diversified Healthcare Trust</name>
        <lei>N/A</lei>
        <title>Diversified Healthcare Trust 6.25% SENIOR NOTES DUE FEBRUARY 1,2046</title>
        <cusip>25525P305</cusip>
        <identifiers>
          <isin value="US25525P3055"/>
          <ticker value="DHCNL"/>
        </identifiers>
        <balance>711300.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>12177456.00000000</valUSD>
        <pctVal>0.091333589306</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EP</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>DTE Energy Co.</name>
        <lei>549300IX8SD6XXD71I78</lei>
        <title>DTE Energy Co. 4.375% JUNIOR SUBORDINATED DEBENTURES DUE DECEMBER 1,2081</title>
        <cusip>233331818</cusip>
        <identifiers>
          <isin value="US2333318184"/>
          <ticker value="DTG"/>
        </identifiers>
        <balance>796815.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>13107606.75000000</valUSD>
        <pctVal>0.098309923820</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EP</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>Pebblebrook Hotel Trust</name>
        <lei>5493004Q1NNH6JXCSI52</lei>
        <title>Pebblebrook Hotel Trust 5.700% SERIES H CUMULATIVE REDEEMABLE PREFERRED SHARES OF BENEFICIAL INTEREST</title>
        <cusip>70509V886</cusip>
        <identifiers>
          <isin value="US70509V8862"/>
          <ticker value="PEB H"/>
        </identifiers>
        <balance>566502.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>9851469.78000000</valUSD>
        <pctVal>0.073888182798</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EP</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>SCE Trust VI</name>
        <lei>N/A</lei>
        <title>SCE Trust VI 5.00% TRUST PREFERENCE SECURITIES</title>
        <cusip>78410V200</cusip>
        <identifiers>
          <isin value="US78410V2007"/>
          <ticker value="SCE L"/>
        </identifiers>
        <balance>1351606.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>23382783.80000000</valUSD>
        <pctVal>0.175376004021</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EP</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>EPR Properties</name>
        <lei>549300YSSXFHMPOWZ492</lei>
        <title>EPR Properties 5.750% SERIES G CUMULATIVE REDEEMABLE PREFERRED SHARES</title>
        <cusip>26884U505</cusip>
        <identifiers>
          <isin value="US26884U5056"/>
          <ticker value="EPR G"/>
        </identifiers>
        <balance>426913.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>8636449.99000000</valUSD>
        <pctVal>0.064775268040</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EP</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>Trinity Capital Inc.</name>
        <lei>549300YGT4SBRQYDVU48</lei>
        <title>Trinity Capital Inc. 7.875% FIXED RATE NOTES ISSUED 3/30/2029</title>
        <cusip>896442605</cusip>
        <identifiers>
          <isin value="US8964426055"/>
          <ticker value="TRINZ"/>
        </identifiers>
        <balance>341991.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>8518995.81000000</valUSD>
        <pctVal>0.063894335944</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EP</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>Dynex Capital Inc</name>
        <lei>5CIJ4S9HAEBWILA19B65</lei>
        <title>Dynex Capital Inc 6.900% SERIES C FIXED-TO-FLOATING RATE CUMULATIVE REDEEMABLE PREFERRED STOCK</title>
        <cusip>26817Q878</cusip>
        <identifiers>
          <isin value="US26817Q8785"/>
          <ticker value="DX C"/>
        </identifiers>
        <balance>327510.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>8410456.80000000</valUSD>
        <pctVal>0.063080269577</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EP</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>DTE Energy Co.</name>
        <lei>549300IX8SD6XXD71I78</lei>
        <title>DTE Energy Co. 4.375% JUNIOR SUBORDINATED DEBENTURES DUE OCTOBER 15, 2080</title>
        <cusip>233331826</cusip>
        <identifiers>
          <isin value="US2333318267"/>
          <ticker value="DTB"/>
        </identifiers>
        <balance>677813.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>11068686.29000000</valUSD>
        <pctVal>0.083017573438</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EP</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>Pebblebrook Hotel Trust</name>
        <lei>5493004Q1NNH6JXCSI52</lei>
        <title>Pebblebrook Hotel Trust 6.3% SER F CUM RED PRF SHS BEN INT</title>
        <cusip>70509V704</cusip>
        <identifiers>
          <isin value="US70509V7047"/>
          <ticker value="PEB F"/>
        </identifiers>
        <balance>426764.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>8236545.20000000</valUSD>
        <pctVal>0.061775894456</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EP</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>JPMorgan Chase &amp; Co.</name>
        <lei>8I5DZWZKVSZI1NUHU748</lei>
        <title>JPMorgan Chase &amp; Co. DEPOSITARY SHARES EACH REPRESENTING A 1/400TH INTEREST IN A SHARE OF 4.75% NON-CUMULATIVE PREFERRED STOCK, SERIES GG</title>
        <cusip>48128B622</cusip>
        <identifiers>
          <isin value="US48128B6222"/>
          <ticker value="JPM J"/>
        </identifiers>
        <balance>2560851.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>49910985.99000000</valUSD>
        <pctVal>0.374343335445</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EP</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>Capital One Financial Corp.</name>
        <lei>ZUE8T73ROZOF6FLBAR73</lei>
        <title>Capital One Financial Corp. DEPOSITARY SHARES EACH REPRESENTING A 1/40TH INTEREST IN A SHARE OF FIXED RATE NON-CUMULATIVE PERPETUAL PREFERRED STOCK, S</title>
        <cusip>14040H758</cusip>
        <identifiers>
          <isin value="US14040H7585"/>
          <ticker value="COF L"/>
        </identifiers>
        <balance>1920635.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>30903017.15000000</valUSD>
        <pctVal>0.231779402586</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EP</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>Brookfield Finance Inc.</name>
        <lei>549300XH8D8K6OYWGD17</lei>
        <title>Brookfield Finance Inc. SUBORDINATED NOTES DUE OCTOBER 16, 2080</title>
        <cusip>11271L102</cusip>
        <identifiers>
          <isin value="US11271L1026"/>
          <ticker value="BNH"/>
        </identifiers>
        <balance>1138220.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>17244033.00000000</valUSD>
        <pctVal>0.129334027403</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EP</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>CA</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>Apollo Global Management Inc</name>
        <lei>254900LMFT1CY9IYB476</lei>
        <title>Apollo Global Management Inc 6.75% SERIES A MANDATORY CONVERTIBLE PREFERRED STOCK</title>
        <cusip>03769M304</cusip>
        <identifiers>
          <isin value="US03769M3043"/>
          <ticker value="APOPA"/>
        </identifiers>
        <balance>2045144.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>119559118.24000000</valUSD>
        <pctVal>0.896719594236</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EP</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>Live Oak Bancshares Inc</name>
        <lei>N/A</lei>
        <title>Live Oak Bancshares Inc DEPOSITARY SHARES EACH REPRESENTING A 1/40TH INTEREST IN A SHARE OF 8.375% FIXED RATE NON-CUMULATIVE PERPETUAL PREFERRED STOCK</title>
        <cusip>53803X402</cusip>
        <identifiers>
          <isin value="US53803X4025"/>
          <ticker value="LOB A"/>
        </identifiers>
        <balance>284556.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>7113900.00000000</valUSD>
        <pctVal>0.053355809371</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EP</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>Huntington Bancshares Incorporated</name>
        <lei>549300XTVCVV9I7B5T19</lei>
        <title>Huntington Bancshares Incorporated DEPOSITARY SHARES, EACH REPRESENTING A 1/40TH INTEREST IN A SHARE OF 6.875% SERIES J NON-CUMULATIVE PERPETUAL PREFE</title>
        <cusip>446150773</cusip>
        <identifiers>
          <isin value="US4461507737"/>
          <ticker value="HBANL"/>
        </identifiers>
        <balance>956196.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>23531983.56000000</valUSD>
        <pctVal>0.176495034926</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EP</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>Goldman Sachs Group, Inc.</name>
        <lei>784F5XWPLTWKTBV3E584</lei>
        <title>Goldman Sachs Group, Inc. 1/1000TH INTEREST IN A SHARE OF FLOATING RATE NON-CUMULATIVE PREFERRED STOCK, SERIES A</title>
        <cusip>38143Y665</cusip>
        <identifiers>
          <isin value="US38143Y6656"/>
          <ticker value="GS A"/>
        </identifiers>
        <balance>2134029.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>40887995.64000000</valUSD>
        <pctVal>0.306668929975</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EP</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>W.R. Berkley Corporation</name>
        <lei>SQOAGCLKBDWNVYV1OV80</lei>
        <title>W.R. Berkley Corporation 4.125% SUBORDINATED DEBENTURES DUE MARCH 30, 2061</title>
        <cusip>084423870</cusip>
        <identifiers>
          <isin value="US0844238701"/>
          <ticker value="WRB H"/>
        </identifiers>
        <balance>853593.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>13247763.36000000</valUSD>
        <pctVal>0.099361129118</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EP</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>The Bank of New York Mellon Corp.</name>
        <lei>WFLLPEPC7FZXENRZV188</lei>
        <title>The Bank of New York Mellon Corp. DEPOSITARY SHARES EACH REPRESENTING A 1/4,000TH INTEREST IN A SHARE OF SERIES K NONCUMULATIVE PERPETUAL PREFERRED ST</title>
        <cusip>064058845</cusip>
        <identifiers>
          <isin value="US0640588457"/>
          <ticker value="BK K"/>
        </identifiers>
        <balance>1422796.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>35569900.00000000</valUSD>
        <pctVal>0.266782046945</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EP</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>Entergy Mississippi LLC</name>
        <lei>54930043I78H35DVVW89</lei>
        <title>Entergy Mississippi LLC 4.90% SERIES DUE OCTOBER 1, 2066</title>
        <cusip>29364N108</cusip>
        <identifiers>
          <isin value="US29364N1081"/>
          <ticker value="EMP"/>
        </identifiers>
        <balance>739813.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>15055194.55000000</valUSD>
        <pctVal>0.112917259233</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EP</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>JPMorgan Chase &amp; Co.</name>
        <lei>8I5DZWZKVSZI1NUHU748</lei>
        <title>JPMorgan Chase &amp; Co. DEPOSITARY SHARES, EACH REPRESENTING A 1/400TH INTEREST IN A SHARE OF JPMORGAN CHASE &amp; CO. 4.20% NON-CUMULATIVE PREFERRED STOCK,</title>
        <cusip>48128B523</cusip>
        <identifiers>
          <isin value="US48128B5232"/>
          <ticker value="JPM M"/>
        </identifiers>
        <balance>5690806.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>99589105.00000000</valUSD>
        <pctVal>0.746940117496</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EP</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>Corebridge Financial Inc.</name>
        <lei>549300XY1661QCIA7J65</lei>
        <title>Corebridge Financial Inc. 6.375% JUNIOR SUBORDINATED NOTES DUE DECEMBER 15,2064.</title>
        <cusip>21871X208</cusip>
        <identifiers>
          <isin value="US21871X2080"/>
          <ticker value="CRBD"/>
        </identifiers>
        <balance>1707187.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>38872647.99000000</valUSD>
        <pctVal>0.291553380834</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EP</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>AT&amp;T Inc</name>
        <lei>549300Z40J86GGSTL398</lei>
        <title>AT&amp;T Inc 5.350% GLOBAL NOTES DUE 2066</title>
        <cusip>00206R300</cusip>
        <identifiers>
          <isin value="US00206R3003"/>
          <ticker value="TBB"/>
        </identifiers>
        <balance>3763051.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>80002464.26000000</valUSD>
        <pctVal>0.600036018542</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EP</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>Reinsurance Group of America, Incorporated</name>
        <lei>LORM1GNEU1DKEW527V90</lei>
        <title>Reinsurance Group of America, Incorporated 5.75% FIXED-TO-FLOATING RATE SUBORDINATED DEBENTURES DUE 2056</title>
        <cusip>759351802</cusip>
        <identifiers>
          <isin value="US7593518027"/>
          <ticker value="RZB"/>
        </identifiers>
        <balance>1138220.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>28364442.40000000</valUSD>
        <pctVal>0.212739535504</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EP</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>Brookfield BRP Holdings (Canada) Inc.</name>
        <lei>549300NSPD7QJ50GZW26</lei>
        <title>Brookfield BRP Holdings (Canada) Inc. 7.250% PERPETUAL SUBORDINATED NOTES</title>
        <cusip>11259P307</cusip>
        <identifiers>
          <isin value="US11259P3073"/>
          <ticker value="BEPJ"/>
        </identifiers>
        <balance>426913.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>10130645.49000000</valUSD>
        <pctVal>0.075982061819</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EP</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>CA</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>Strategy Inc.</name>
        <lei>549300WQTWEJUEHXQX21</lei>
        <title>Strategy Inc. 10.00% SERIES A PERPETUAL STRIFE PREFERRED STOCK</title>
        <cusip>594972879</cusip>
        <identifiers>
          <isin value="US5949728795"/>
          <ticker value="STRF"/>
        </identifiers>
        <balance>884655.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>84696869.70000000</valUSD>
        <pctVal>0.635245088359</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EP</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <loanByFundCondition isLoanByFund="Y" loanVal="6127360.00000000"/>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>Global Net Lease Inc</name>
        <lei>549300NUYANCT5SU8Z65</lei>
        <title>Global Net Lease Inc 6.875% SERIES B CUMULATIVE REDEEMABLE PERPETUAL PREFERRED STOCK</title>
        <cusip>379378409</cusip>
        <identifiers>
          <isin value="US3793784097"/>
          <ticker value="GNL B"/>
        </identifiers>
        <balance>333995.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>7127453.30000000</valUSD>
        <pctVal>0.053457462092</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EP</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>DIME COMMUNITY BANCSHARES INC</name>
        <lei>N/A</lei>
        <title>Dime Community Bancshares Inc. 5.50% FIXED-RATE NON-CUMULATIVE PERPETUAL PREFERRED STOCK, SERIES A</title>
        <cusip>25432X201</cusip>
        <identifiers>
          <isin value="US25432X2018"/>
          <ticker value="DCOMP"/>
        </identifiers>
        <balance>376951.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>6875586.24000000</valUSD>
        <pctVal>0.051568403933</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EP</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>Wesbanco Inc</name>
        <lei>N/A</lei>
        <title>Wesbanco Inc DEPOSITARY SHARES, EACH REPRESENTING A 1/40TH INTEREST IN A SHARE OF 7.375% FIXED-RATE RESET NON-CUMULATIVE PERPETUAL PREFERRED STOCK, SE</title>
        <cusip>950810887</cusip>
        <identifiers>
          <isin value="US9508108878"/>
          <ticker value="WSBCO"/>
        </identifiers>
        <balance>654458.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>16394172.90000000</valUSD>
        <pctVal>0.122959890363</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EP</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>Regions Financial Corporation</name>
        <lei>CW05CS5KW59QTC0DG824</lei>
        <title>Regions Financial Corporation DEPOSITARY SHARES EACH REPRESENTING A 1/40TH INTEREST IN A SHARE OFNON-CUMULATIVE PERPETUAL PREFERRED STOCK, SERIES F</title>
        <cusip>7591EP860</cusip>
        <identifiers>
          <isin value="US7591EP8604"/>
          <ticker value="RF F"/>
        </identifiers>
        <balance>1422784.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>35427321.60000000</valUSD>
        <pctVal>0.265712677692</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EP</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>SCE Trust VII</name>
        <lei>N/A</lei>
        <title>SCE Trust VII 7.50% TRUST PREFERENCE SECURITIES</title>
        <cusip>783892201</cusip>
        <identifiers>
          <isin value="US7838922018"/>
          <ticker value="SCE M"/>
        </identifiers>
        <balance>1564901.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>38308776.48000000</valUSD>
        <pctVal>0.287324220908</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EP</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>National Storage Affiliates Trust</name>
        <lei>529900FS06O8GOYNR108</lei>
        <title>National Storage Affiliates Trust 6.000% SERIES A CUMULATIVE REDEEMABLE PREFERRED SHARES OF BENEFICIAL INTEREST</title>
        <cusip>637870205</cusip>
        <identifiers>
          <isin value="US6378702053"/>
          <ticker value="NSA A"/>
        </identifiers>
        <balance>642818.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>14572684.06000000</valUSD>
        <pctVal>0.109298324791</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EP</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>Affiliated Managers Group, Inc.</name>
        <lei>2JE75BUE3T1BLCYYGK54</lei>
        <title>Affiliated Managers Group, Inc. 4.750% JUNIOR SUBORDINATED NOTES DUE SEPTEMBER 30, 2060</title>
        <cusip>008252843</cusip>
        <identifiers>
          <isin value="US0082528433"/>
          <ticker value="MGRB"/>
        </identifiers>
        <balance>782478.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>12574421.46000000</valUSD>
        <pctVal>0.094310917271</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EP</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>Goldman Sachs Group, Inc.</name>
        <lei>784F5XWPLTWKTBV3E584</lei>
        <title>Goldman Sachs Group, Inc. 1/1000 INTEREST IN A SHARE OF FLOATING RATE NON-CUMULATIVE PREFERRED STOCK, SERIES C</title>
        <cusip>38144X609</cusip>
        <identifiers>
          <isin value="US38144X6094"/>
          <ticker value="GS C"/>
        </identifiers>
        <balance>569022.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>10896771.30000000</valUSD>
        <pctVal>0.081728173329</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EP</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>Old National Bancorp</name>
        <lei>549300MMK90CL5KMVX16</lei>
        <title>Old National Bancorp DEPOSITARY SHARES EACH REPRESENTING A 1/40TH INTEREST IN A SHARE OF FIXED RATE NON-CUMULATIVE PERPETUAL PREFERRED STOCK, SERIES A</title>
        <cusip>68003D204</cusip>
        <identifiers>
          <isin value="US68003D2045"/>
          <ticker value="ONBPP"/>
        </identifiers>
        <balance>318283.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>7829761.80000000</valUSD>
        <pctVal>0.058724929788</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EP</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>Public Storage</name>
        <lei>254900GLQZAD4N7N5Q19</lei>
        <title>Public Storage 4.875% DEP SHS EACH REP 1/1000 OF A PFD SHS OF BEN INT SER I</title>
        <cusip>74460W628</cusip>
        <identifiers>
          <isin value="US74460W6286"/>
          <ticker value="PSA I"/>
        </identifiers>
        <balance>899867.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>16746524.87000000</valUSD>
        <pctVal>0.125602607374</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EP</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>CMS Energy Corporation</name>
        <lei>549300IA9XFBAGNIBW29</lei>
        <title>CMS Energy Corporation 5.625% JUNIOR SUBORDINATED NOTES</title>
        <cusip>125896860</cusip>
        <identifiers>
          <isin value="US1258968601"/>
          <ticker value="CMSA"/>
        </identifiers>
        <balance>569022.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>12131549.04000000</valUSD>
        <pctVal>0.090989277043</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EP</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>Webster Financial Corp.</name>
        <lei>KMRURHT0VWKYS6Z5KU67</lei>
        <title>Webster Financial Corp. DEPOSITARY SHARES, EACH REPRESENTING A 1/40TH INTEREST IN A SHARE OF 6.50% SERIES G NON-CUMULATIVE PERPETUAL PREFERRED STOCK</title>
        <cusip>947890703</cusip>
        <identifiers>
          <isin value="US9478907036"/>
          <ticker value="WBS G"/>
        </identifiers>
        <balance>396669.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>9242387.70000000</valUSD>
        <pctVal>0.069319933687</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EP</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>TRITON INTERNATIONAL LTD</name>
        <lei>N/A</lei>
        <title>Triton International Limited 7.5% SERIES G CUMULATIVE REDEEMABLE PERPETUAL PREFERENCE SHARES</title>
        <cusip>000000000</cusip>
        <identifiers>
          <isin value="BMG9078F3057"/>
          <ticker value="TRTN G"/>
          <other otherDesc="SEDOL" value="BN4G5T8"/>
        </identifiers>
        <balance>498012.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>11723202.48000000</valUSD>
        <pctVal>0.087926588333</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EP</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>BM</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>Brc Group Holdings Inc.</name>
        <lei>529900LRQ75IKIPK4990</lei>
        <title>Brc Group Holdings Inc. CALLABLE 5.00% SENIOR NOTES DUE DECEMBER 31, 2026</title>
        <cusip>05580M793</cusip>
        <identifiers>
          <isin value="US05580M7939"/>
          <ticker value="RILYG"/>
        </identifiers>
        <balance>563247.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>12763177.02000000</valUSD>
        <pctVal>0.095726625346</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EP</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <loanByFundCondition isLoanByFund="Y" loanVal="108768.00000000"/>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>Ellington Financial Inc</name>
        <lei>60GS1D1R1YY5G1W7IT74</lei>
        <title>Ellington Financial Inc 6.250% SERIES B FIXED-RATE RESET CUMULATIVE REDEEMABLE PREFERRED STOCK</title>
        <cusip>28852N307</cusip>
        <identifiers>
          <isin value="US28852N3070"/>
          <ticker value="EFC B"/>
        </identifiers>
        <balance>355271.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>8387948.31000000</valUSD>
        <pctVal>0.062911450968</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EP</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>Connectone Bancorp Inc.</name>
        <lei>549300E2M5ZYAZKUK134</lei>
        <title>Connectone Bancorp Inc. DEPOSITARY SHARES, EACH REPRESENTING A 1/40TH INTEREST IN A SHARE OF THE COMPANYS 5.25% FIXED-RATE RESET NON-CUMULATIVE PERPET</title>
        <cusip>20786W503</cusip>
        <identifiers>
          <isin value="US20786W5031"/>
          <ticker value="CNOBP"/>
        </identifiers>
        <balance>327221.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>7951470.30000000</valUSD>
        <pctVal>0.059637770217</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EP</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>Wells Fargo &amp; Co.</name>
        <lei>PBLD0EJDB5FWOLXP3B76</lei>
        <title>Wells Fargo &amp; Co. DEPOSITARY SHARES, EACH REPRESENTING A 1/1,000TH INTEREST IN A SHARE OF NON-CUMULATIVE PERPETUAL CLASS A PREFERRED STOCK, SERIES Y</title>
        <cusip>94988U656</cusip>
        <identifiers>
          <isin value="US94988U6560"/>
          <ticker value="WFC Y"/>
        </identifiers>
        <balance>1783345.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>41962107.85000000</valUSD>
        <pctVal>0.314725006996</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EP</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <loanByFundCondition isLoanByFund="Y" loanVal="3080077.00000000"/>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>Xcel Energy Inc</name>
        <lei>LGJNMI9GH8XIDG5RCM61</lei>
        <title>Xcel Energy Inc 6.25% NOTES ISSUED DUE ON OCTOBER 15, 2085</title>
        <cusip>98389B878</cusip>
        <identifiers>
          <isin value="US98389B8789"/>
          <ticker value="XELLL"/>
        </identifiers>
        <balance>2559400.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>63165992.00000000</valUSD>
        <pctVal>0.473758786026</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EP</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>F&amp;G ANNUITIES &amp; LIFE INC</name>
        <lei>N/A</lei>
        <title>F&amp;G Annuities &amp; Life Inc. 7.95% SENIOR NOTES DUE 12/15/2053</title>
        <cusip>30190A203</cusip>
        <identifiers>
          <isin value="US30190A2033"/>
          <ticker value="FGN"/>
        </identifiers>
        <balance>981774.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>24455990.34000000</valUSD>
        <pctVal>0.183425288319</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EP</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>Valley National Bancorp.</name>
        <lei>549300ET52S1UBIB9762</lei>
        <title>Valley National Bancorp. 8.250% FIXED-RATE RESET NON-CUMULATIVE PERPETUAL PREFERRED STOCK SERIES C</title>
        <cusip>919794404</cusip>
        <identifiers>
          <isin value="US9197944047"/>
          <ticker value="VLYPN"/>
        </identifiers>
        <balance>426897.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>10800494.10000000</valUSD>
        <pctVal>0.081006073225</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EP</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>Unum Group</name>
        <lei>549300E32YFDO6TZ8R31</lei>
        <title>Unum Group 6.250% JUNIOR SUBORDINATED NOTES DUE 2058</title>
        <cusip>91529Y601</cusip>
        <identifiers>
          <isin value="US91529Y6014"/>
          <ticker value="UNMA"/>
        </identifiers>
        <balance>853593.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>19530207.84000000</valUSD>
        <pctVal>0.146480839834</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EP</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>Athene Holding Ltd</name>
        <lei>549300H316CT32FQXI76</lei>
        <title>Athene Holding Ltd JUNIOR SUBORDINATED DEBENTURES DUE ON MARCH 30, 2064</title>
        <cusip>04686J838</cusip>
        <identifiers>
          <isin value="US04686J8383"/>
          <ticker value="ATHS"/>
        </identifiers>
        <balance>1636079.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>38742350.72000000</valUSD>
        <pctVal>0.290576122748</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EP</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>Flagstar Bank National Association</name>
        <lei>SS1TRMSN6BRNMOREEV51</lei>
        <title>FLG 6 11/01/51</title>
        <cusip>64944P307</cusip>
        <identifiers>
          <isin value="US64944P3073"/>
          <ticker value="FLGPU"/>
        </identifiers>
        <balance>206329.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>7995248.75000000</valUSD>
        <pctVal>0.059966118188</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EP</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>KeyCorp</name>
        <lei>RKPI3RZGV1V1FJTH5T61</lei>
        <title>KeyCorp DEPOSITARY SHARES EACH REPRESENTING A 1/40TH OWNERSHIP INTEREST IN A SHARE OF 6.200% FIXED-RATE RESET PERPETUAL NON-CUMULATIVE PREFERRED STOCK</title>
        <cusip>493267843</cusip>
        <identifiers>
          <isin value="US4932678430"/>
          <ticker value="KEY L"/>
        </identifiers>
        <balance>1707179.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>40511357.67000000</valUSD>
        <pctVal>0.303844062641</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EP</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>Wells Fargo &amp; Co.</name>
        <lei>PBLD0EJDB5FWOLXP3B76</lei>
        <title>Wells Fargo &amp; Co. 7.5% NON-CUMULATIVE PERPETUAL CONVERTIBLE CLASS A PREFERRED STOCK, SERIES L</title>
        <cusip>949746804</cusip>
        <identifiers>
          <isin value="US9497468044"/>
          <ticker value="WFCPL"/>
        </identifiers>
        <balance>264177.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>305124435.00000000</valUSD>
        <pctVal>2.288500145975</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EP</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>Bank of America Corp.</name>
        <lei>9DJT3UXIJIZJI4WXO774</lei>
        <title>Bank of America Corp. 1/1,000TH INTEREST IN A SHARE OF BANK OF AMERICA CORPORATION 6.000% NON-CUMULATIVE PREFERRED STOCK, SERIES GG</title>
        <cusip>060505229</cusip>
        <identifiers>
          <isin value="US0605052291"/>
          <ticker value="BAC B"/>
        </identifiers>
        <balance>2624508.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>64904082.84000000</valUSD>
        <pctVal>0.486794848317</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EP</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>Wells Fargo &amp; Co.</name>
        <lei>PBLD0EJDB5FWOLXP3B76</lei>
        <title>Wells Fargo &amp; Co. DEPOSITARY SHARES EACH REPRESENTING A 1/1,000TH INTEREST IN A SHARE OF NON-CUMULATIVE PERPETUAL CLASS A PREFERRED STOCK, SERIES CC</title>
        <cusip>95002Y202</cusip>
        <identifiers>
          <isin value="US95002Y2028"/>
          <ticker value="WFC C"/>
        </identifiers>
        <balance>2727764.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>47599481.80000000</valUSD>
        <pctVal>0.357006547337</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EP</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>Huntington Bancshares Incorporated</name>
        <lei>549300XTVCVV9I7B5T19</lei>
        <title>Huntington Bancshares Incorporated DEPOSITARY SHS EACH REPRESENTING A 1/1000TH INTEREST IN A SHARE OF 5.50% NON-CUMULATIVE PERPETUAL PREF STK SER L</title>
        <cusip>446150757</cusip>
        <identifiers>
          <isin value="US4461507570"/>
          <ticker value="HBANZ"/>
        </identifiers>
        <balance>416417.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>8524055.99000000</valUSD>
        <pctVal>0.063932288403</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EP</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>Stifel Financial Corporation</name>
        <lei>549300E5F07FE5GHJX84</lei>
        <title>Stifel Financial Corporation DEPOSITARY SHARES, EACH REPRESENTING A 1/1000TH INTEREST IN A SHARE OF 6.125% NON-CUMULATIVE PREFERRED STOCK SERIES C</title>
        <cusip>860630870</cusip>
        <identifiers>
          <isin value="US8606308703"/>
          <ticker value="SF C"/>
        </identifiers>
        <balance>640137.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>15356886.63000000</valUSD>
        <pctVal>0.115180015964</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EP</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>Rithm Capital Corp.</name>
        <lei>549300WNTHGEO5LP2G31</lei>
        <title>Rithm Capital Corp. 8.750% SERIES E FIXED-RATE CUMULATIVE REDEEMABLE PREFERRED STOCK</title>
        <cusip>64828T805</cusip>
        <identifiers>
          <isin value="US64828T8053"/>
          <ticker value="RITM E"/>
        </identifiers>
        <balance>540686.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>12976464.00000000</valUSD>
        <pctVal>0.097326324449</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EP</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>Synchrony Financial</name>
        <lei>549300RS7EWPM9MA6C78</lei>
        <title>Synchrony Financial DEPOSITARY SHARES EACH REPRESENTING A 1/40TH INTEREST IN A SHARE OF 5.625% FIXED RATE NON-CUMULATIVE PERPETUAL PREFERRED STOCK, SE</title>
        <cusip>87165B202</cusip>
        <identifiers>
          <isin value="US87165B2025"/>
          <ticker value="SYF A"/>
        </identifiers>
        <balance>2132811.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>39606300.27000000</valUSD>
        <pctVal>0.297055933751</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EP</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>Arbor Realty Trust, Inc.</name>
        <lei>549300ASFUWYQO0RW077</lei>
        <title>Arbor Realty Trust, Inc. 6.375% SERIES D CUMULATIVE REDEEMABLE PREFERRED STOCK</title>
        <cusip>038923876</cusip>
        <identifiers>
          <isin value="US0389238769"/>
          <ticker value="ABR D"/>
        </identifiers>
        <balance>666997.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>11098830.08000000</valUSD>
        <pctVal>0.083243658470</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EP</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>Aspen Insurance Holdings Ltd.</name>
        <lei>549300YX6HECG9XQCQ75</lei>
        <title>Aspen Insurance Holdings Ltd. DEPOSITARY SHARES, EACH REPRESENTING A 1/1,000TH INTEREST IN A SHARE OF 7% PERPETUAL NON-CUMULATIVE PREFERENCE SHARES</title>
        <cusip>000000000</cusip>
        <identifiers>
          <isin value="BMG053841703"/>
          <ticker value="AHL F"/>
          <other otherDesc="SEDOL" value="BS0CHC2"/>
        </identifiers>
        <balance>640137.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>14915192.10000000</valUSD>
        <pctVal>0.111867210169</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EP</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>BM</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>Cullen/Frost Bankers, Inc.</name>
        <lei>529900V2E9G9AY665O34</lei>
        <title>Cullen/Frost Bankers, Inc. DEPOSITARY SHARES EACH REPRESENTING A 1/40TH INTEREST IN A SHARE OF 4.450% NON-CUMULATIVE PERPETUAL PREFERRED STOCK, SERIES</title>
        <cusip>229899307</cusip>
        <identifiers>
          <isin value="US2298993070"/>
          <ticker value="CFR B"/>
        </identifiers>
        <balance>442050.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>7501588.50000000</valUSD>
        <pctVal>0.056263558103</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EP</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>Brighthouse Financial Inc.</name>
        <lei>5493003T8SZSHOGGAW52</lei>
        <title>Brighthouse Financial Inc. 6.250% JUNIOR SUBORDINATED DEBENTURES DUE SEPTEMBER 15, 2058</title>
        <cusip>10922N202</cusip>
        <identifiers>
          <isin value="US10922N2027"/>
          <ticker value="BHFAL"/>
        </identifiers>
        <balance>1067034.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>17499357.60000000</valUSD>
        <pctVal>0.131249017870</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EP</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>Sunstone Hotel Investors Inc.</name>
        <lei>529900ZQ2V52V96ATF67</lei>
        <title>Sunstone Hotel Investors Inc. 6.125% SERIES H CUMULATIVE REDEEMABLE PREFERRED STOCK</title>
        <cusip>867892804</cusip>
        <identifiers>
          <isin value="US8678928040"/>
          <ticker value="SHO H"/>
        </identifiers>
        <balance>329074.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>6347837.46000000</valUSD>
        <pctVal>0.047610172400</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EP</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>Bank of America Corp.</name>
        <lei>9DJT3UXIJIZJI4WXO774</lei>
        <title>Bank of America Corp. DEPOSITARY SHARES EACH REPRESENTING A 1/1200TH INTEREST IN A SHARE OF FLOATING RATE NON-CUMULATIVE PREFERRED STOCK, SERIES 5</title>
        <cusip>060505583</cusip>
        <identifiers>
          <isin value="US0605055831"/>
          <ticker value="BML L"/>
        </identifiers>
        <balance>736873.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>14376392.23000000</valUSD>
        <pctVal>0.107826093039</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EP</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>Hewlett Packard Enterprise Co.</name>
        <lei>549300BX44RGX6ANDV88</lei>
        <title>Hewlett Packard Enterprise Co. 7.625% SERIES C MANDATORY CONVERTIBLE PREFERRED STOCK</title>
        <cusip>42824C208</cusip>
        <identifiers>
          <isin value="US42824C2089"/>
          <ticker value="HPEPC"/>
        </identifiers>
        <balance>2134091.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>137670210.41000000</valUSD>
        <pctVal>1.032556755475</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EP</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>Webster Financial Corp.</name>
        <lei>KMRURHT0VWKYS6Z5KU67</lei>
        <title>Webster Financial Corp. DEPOSITARY SHARES, EACH REPRESENTING A 1/1,000TH INTEREST IN A SHARE OF SERIES F NON-CUMULATIVE PERPETUAL PREFERRED STOCK</title>
        <cusip>947890505</cusip>
        <identifiers>
          <isin value="US9478905055"/>
          <ticker value="WBS F"/>
        </identifiers>
        <balance>426913.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>8828560.84000000</valUSD>
        <pctVal>0.066216141526</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EP</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>ACRES Commercial Realty Corp</name>
        <lei>549300RUJWPCMY4JFR46</lei>
        <title>ACRES Commercial Realty Corp 7.875% SERIES D CUMULATIVE REDEEMABLE PREFERRED STOCK</title>
        <cusip>00489Q300</cusip>
        <identifiers>
          <isin value="US00489Q3002"/>
          <ticker value="ACR D"/>
        </identifiers>
        <balance>332048.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>7188839.20000000</valUSD>
        <pctVal>0.053917869798</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EP</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>DTE Energy Co.</name>
        <lei>549300IX8SD6XXD71I78</lei>
        <title>DTE Energy Co. JUNIOR SUBORDINATED DEBENTURES</title>
        <cusip>233331859</cusip>
        <identifiers>
          <isin value="US2333318598"/>
          <ticker value="DTW"/>
        </identifiers>
        <balance>1138220.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>23390421.00000000</valUSD>
        <pctVal>0.175433284695</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EP</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>JPMorgan Chase &amp; Co.</name>
        <lei>8I5DZWZKVSZI1NUHU748</lei>
        <title>JPMorgan Chase &amp; Co. 5.75% DEP SHS REP 1/400TH INT SHS NON CUM PFD STK SER DD</title>
        <cusip>48128B655</cusip>
        <identifiers>
          <isin value="US48128B6552"/>
          <ticker value="JPM D"/>
        </identifiers>
        <balance>4826492.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>116801106.40000000</valUSD>
        <pctVal>0.876033900878</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EP</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>TPG Operating Group II LP</name>
        <lei>2549001H9RJQNZT7MU11</lei>
        <title>TPG Operating Group II LP FIXED-RATE JUNIOR SUBORDINATED NOTES DUE ON MARCH 15, 2064</title>
        <cusip>872652102</cusip>
        <identifiers>
          <isin value="US8726521029"/>
          <ticker value="TPGXL"/>
        </identifiers>
        <balance>1138220.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>28432735.60000000</valUSD>
        <pctVal>0.213251749474</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EP</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>Prospect Capital Corp.</name>
        <lei>549300FSD8T39P5Q0O47</lei>
        <title>Prospect Capital Corp. 5.35% SERIES A FIXED RATE CUMULATIVE PERPETUAL PREFERRED STOCK</title>
        <cusip>74348T565</cusip>
        <identifiers>
          <isin value="US74348T5653"/>
          <ticker value="PSEC A"/>
        </identifiers>
        <balance>390546.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>6248736.00000000</valUSD>
        <pctVal>0.046866889727</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EP</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>U.S. Bancorp.</name>
        <lei>N1GZ7BBF3NP8GI976H15</lei>
        <title>U.S. Bancorp. DEPOSITARY SHARES EACH REPRESENTING A 1/100TH INTEREST IN A SHARE OF A NON-CUMULATIVE PERPETUAL PREFERRED STOCK</title>
        <cusip>902973866</cusip>
        <identifiers>
          <isin value="US9029738666"/>
          <ticker value="USB A"/>
        </identifiers>
        <balance>40833.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>30624750.00000000</valUSD>
        <pctVal>0.229692337965</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EP</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>NGL Energy Partners LP/ NGL Energy Finance Corp</name>
        <lei>5299005YSRP46BE8Z459</lei>
        <title>NGL Energy Partners LP/ NGL Energy Finance Corp 9.00% CLASS B FIXED-TO-FLOATING RATE CUMULATIVE REDEEMABLE PERPETUAL PREFERRED UNITS</title>
        <cusip>62913M206</cusip>
        <identifiers>
          <isin value="US62913M2061"/>
          <ticker value="NGL B"/>
        </identifiers>
        <balance>926297.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>22861009.96000000</valUSD>
        <pctVal>0.171462585848</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EP</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>Truist Financial Corp.</name>
        <lei>549300DRQQI75D2JP341</lei>
        <title>Truist Financial Corp. DEPOSITARY SHARES, EACH REPRESENTING A 1/1,000TH INTEREST IN A SHARE OF SERIES O NON-CUMULATIVE PERPETUAL PREFERRED STOCK</title>
        <cusip>89832Q745</cusip>
        <identifiers>
          <isin value="US89832Q7455"/>
          <ticker value="TFC O"/>
        </identifiers>
        <balance>1636079.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>33654145.03000000</valUSD>
        <pctVal>0.252413464735</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EP</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>El Paso Energy Capital Trust I</name>
        <lei>N/A</lei>
        <title>El Paso Energy Capital Trust I 4 3/4% TRUST CONVERTIBLE PREFERRED SECURITIES DUE MARCH 31, 2028</title>
        <cusip>283678209</cusip>
        <identifiers>
          <isin value="US2836782092"/>
          <ticker value="EPPC"/>
        </identifiers>
        <balance>313678.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>15919158.50000000</valUSD>
        <pctVal>0.119397178239</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EP</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>The Allstate Corporation</name>
        <lei>OBT0W1ED8G0NWVOLOJ77</lei>
        <title>The Allstate Corporation 5.100% FIXED-TO-FLOATING RATE SUBORDINATED DEBENTURES DUE 2053</title>
        <cusip>020002309</cusip>
        <identifiers>
          <isin value="US0200023093"/>
          <ticker value="ALL B"/>
        </identifiers>
        <balance>1422784.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>36650915.84000000</valUSD>
        <pctVal>0.274889902704</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EP</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>Agnc Investment Corp</name>
        <lei>5TRACI5HRMELWV32OF39</lei>
        <title>Agnc Investment Corp DEP SHS EACH REP 1/1,000TH OF A SHARE OF 6.50% SER E FIX TO FLTNG RATE CUM RED PFD STK</title>
        <cusip>00123Q807</cusip>
        <identifiers>
          <isin value="US00123Q8078"/>
          <ticker value="AGNCO"/>
        </identifiers>
        <balance>1145269.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>28585914.24000000</valUSD>
        <pctVal>0.214400622851</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EP</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>PennyMac Mortgage Investment Trust</name>
        <lei>549300BSSOQO1ZWDUJ97</lei>
        <title>PennyMac Mortgage Investment Trust 6.75% SERIES C CUMULATIVE REDEEMABLE PREFERRED SHARES OF BENEFICIAL INTEREST</title>
        <cusip>70931T509</cusip>
        <identifiers>
          <isin value="US70931T5092"/>
          <ticker value="PMT C"/>
        </identifiers>
        <balance>711308.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>12348306.88000000</valUSD>
        <pctVal>0.092615008356</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EP</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>Agnc Investment Corp</name>
        <lei>5TRACI5HRMELWV32OF39</lei>
        <title>Agnc Investment Corp DEPOSITARY SHARES EACH REPRESENTING A 1/1,000 TH INTEREST IN A SHARE OF 7.00% SERIES C FIXED-TO-FLOATING RATE CUMULATIVE REDEEMAB</title>
        <cusip>00123Q500</cusip>
        <identifiers>
          <isin value="US00123Q5009"/>
          <ticker value="AGNCN"/>
        </identifiers>
        <balance>924764.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>23276309.88000000</valUSD>
        <pctVal>0.174577426282</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EP</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>Globe Life Inc</name>
        <lei>5493001JFHKQOPP6XA71</lei>
        <title>Globe Life Inc 4.250% JUNIOR SUBORDINATED DEBENTURES DUE JUNE 15, 2061</title>
        <cusip>37959E300</cusip>
        <identifiers>
          <isin value="US37959E3009"/>
          <ticker value="GL D"/>
        </identifiers>
        <balance>924764.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>14241365.60000000</valUSD>
        <pctVal>0.106813363716</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EP</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>Citizens Financial Group Inc</name>
        <lei>2138004JDDA4ZQUPFW65</lei>
        <title>Citizens Financial Group Inc DEPOSITARY SHARES, EACH REPRESENTING A 1/40TH INTEREST IN A SHARE OF 7.375% FIXED-RATE NON-CUMULATIVE PERPETUAL PREFERRED</title>
        <cusip>174610600</cusip>
        <identifiers>
          <isin value="US1746106004"/>
          <ticker value="CFG H"/>
        </identifiers>
        <balance>1138204.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>28876235.48000000</valUSD>
        <pctVal>0.216578095789</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EP</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>Sunstone Hotel Investors Inc.</name>
        <lei>529900ZQ2V52V96ATF67</lei>
        <title>Sunstone Hotel Investors Inc. 5.70% SERIES I CUMULATIVE REDEEMABLE PREFERRED STOCK</title>
        <cusip>867892887</cusip>
        <identifiers>
          <isin value="US8678928875"/>
          <ticker value="SHO I"/>
        </identifiers>
        <balance>284556.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>5326888.32000000</valUSD>
        <pctVal>0.039952830057</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EP</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>Bank of America Corp.</name>
        <lei>9DJT3UXIJIZJI4WXO774</lei>
        <title>Bank of America Corp. DEPOSITARY SHARES, EACH REPRESENTING A 1/1,000TH INTEREST IN A SHARE OF BANK OF AMERICA CORPORATION 4.125% NON-CUMULATIVE PREFER</title>
        <cusip>06055H608</cusip>
        <identifiers>
          <isin value="US06055H6080"/>
          <ticker value="BAC P"/>
        </identifiers>
        <balance>1752117.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>29155226.88000000</valUSD>
        <pctVal>0.218670592444</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EP</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>DigitalBridge Group Inc</name>
        <lei>549300XG87L902AGBO89</lei>
        <title>DigitalBridge Group Inc 7.125% SERIES H CUMULATIVE REDEEMABLE PREFERRED STOCK</title>
        <cusip>25401T504</cusip>
        <identifiers>
          <isin value="US25401T5048"/>
          <ticker value="DBRG H"/>
        </identifiers>
        <balance>597173.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>9686146.06000000</valUSD>
        <pctVal>0.072648218659</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EP</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>Banc Of California Inc.</name>
        <lei>549300ZKWUJDP6LJ1X87</lei>
        <title>Banc Of California Inc. DEPOSITARY SHARES EACH REPRESENTING A 1/40TH INTEREST IN A SHARE OF 7.75% NON CUMULATIVE PERPETUAL PREFERRED STOCK SERIES F</title>
        <cusip>05990K841</cusip>
        <identifiers>
          <isin value="US05990K8412"/>
          <ticker value="BANC F"/>
        </identifiers>
        <balance>1460370.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>36304798.20000000</valUSD>
        <pctVal>0.272293944535</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EP</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>The Charles Schwab Corporation</name>
        <lei>549300VSGCJ7E698NM85</lei>
        <title>The Charles Schwab Corporation DEPOSITARY SHARES, EACH REPRESENTING A 1/40TH INTEREST IN A SHARE OF 4.450% NON-CUMULATIVE PERPETUAL PREFERRED STOCK, S</title>
        <cusip>808513865</cusip>
        <identifiers>
          <isin value="US8085138654"/>
          <ticker value="SCHW J"/>
        </identifiers>
        <balance>1707179.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>30182924.72000000</valUSD>
        <pctVal>0.226378551516</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EP</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>Microchip Technology Incorporated</name>
        <lei>5493007PTFULNYZJ1R12</lei>
        <title>Microchip Technology Incorporated 7.50 % DEP SHS REPSTG 1/20TH PFD CONV SER A</title>
        <cusip>595017302</cusip>
        <identifiers>
          <isin value="US5950173022"/>
          <ticker value="MCHPP"/>
        </identifiers>
        <balance>2112714.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>120361316.58000000</valUSD>
        <pctVal>0.902736257629</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EP</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>Public Storage</name>
        <lei>254900GLQZAD4N7N5Q19</lei>
        <title>Public Storage DEPOSITARY SHARES EACH REPRESENTING 1/1000 OF A 4.625% CUMULATIVE PREFERRED SHARE OF BENEFICIAL INTEREST, SERIES L</title>
        <cusip>74460W552</cusip>
        <identifiers>
          <isin value="US74460W5528"/>
          <ticker value="PSA L"/>
        </identifiers>
        <balance>1607735.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>28167517.20000000</valUSD>
        <pctVal>0.211262553338</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EP</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>Sl Green Realty Corp</name>
        <lei>549300VQZPJU97H3GT17</lei>
        <title>Sl Green Realty Corp 6.50% SERIES I CUMULATIVE REDEEMABLE PREFERRED STOCK</title>
        <cusip>78440X507</cusip>
        <identifiers>
          <isin value="US78440X5077"/>
          <ticker value="SLG I"/>
        </identifiers>
        <balance>654467.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>13285680.10000000</valUSD>
        <pctVal>0.099645512979</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EP</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>TPG RE FINANCE TRUST INC</name>
        <lei>N/A</lei>
        <title>TPG RE Finance Trust Inc. 6.25% SERIES C CUMULATIVE REDEEMABLE PREFERRED STOCK</title>
        <cusip>87266M206</cusip>
        <identifiers>
          <isin value="US87266M2061"/>
          <ticker value="TRTX C"/>
        </identifiers>
        <balance>572639.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>10124257.52000000</valUSD>
        <pctVal>0.075934150643</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EP</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>CHS Inc</name>
        <lei>XEIEFTLYDQ1MZ6TZV015</lei>
        <title>CHS Inc CLASS B CUMULATIVE REDEEMABLE PREFERRED STOCK SERIES 1</title>
        <cusip>12542R308</cusip>
        <identifiers>
          <isin value="US12542R3084"/>
          <ticker value="CHSCO"/>
        </identifiers>
        <balance>1526544.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>39277977.12000000</valUSD>
        <pctVal>0.294593438158</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EP</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>Athene Holding Ltd</name>
        <lei>549300H316CT32FQXI76</lei>
        <title>Athene Holding Ltd DEPOSITARY SHARES EACH REPRESENTING A 1/1,000TH INTEREST IN A SHARE OF THE ISSUERS 7.750% FIXED-RATE RESET PERPETUAL NON-CUMULATIV</title>
        <cusip>04686J507</cusip>
        <identifiers>
          <isin value="US04686J5074"/>
          <ticker value="ATH E"/>
        </identifiers>
        <balance>1422784.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>35370410.24000000</valUSD>
        <pctVal>0.265285830017</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EP</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>T-Mobile USA, Inc.</name>
        <lei>549300V2JRLO5DIFGE82</lei>
        <title>T-Mobile USA, Inc. 5.500% SENIOR NOTES DUE ON JUNE 1, 2070</title>
        <cusip>87264A303</cusip>
        <identifiers>
          <isin value="US87264A3032"/>
          <ticker value="TMUSI"/>
        </identifiers>
        <balance>1123344.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>23927227.20000000</valUSD>
        <pctVal>0.179459448863</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EP</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>Capital One Financial Corp.</name>
        <lei>ZUE8T73ROZOF6FLBAR73</lei>
        <title>Capital One Financial Corp. DEPOSITARY SHARES EACH REPRESENTING A 1/40TH INTEREST IN A SHARE OF FIXED RATE NON-CUMULATIVE PERPETUAL PREFERRED STOCK, S</title>
        <cusip>14040H774</cusip>
        <identifiers>
          <isin value="US14040H7742"/>
          <ticker value="COF K"/>
        </identifiers>
        <balance>373556.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>6335509.76000000</valUSD>
        <pctVal>0.047517711947</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EP</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>BLACKROCK CASH FUNDS</name>
        <lei>N/A</lei>
        <title>BLACKROCK CASH FUNDS</title>
        <cusip>000000000</cusip>
        <identifiers>
          <other otherDesc="INTERNAL" value="980SNC002"/>
        </identifiers>
        <balance>171344718.30000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>171344718.30000000</valUSD>
        <pctVal>1.285122946124</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>STIV</assetCat>
        <issuerCat>RF</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>Array Digital Infrastructure Inc.</name>
        <lei>549300B164AZXESI6E03</lei>
        <title>Array Digital Infrastructure Inc. 5.500% SENIOR NOTES DUE JUNE 1, 2070</title>
        <cusip>911684884</cusip>
        <identifiers>
          <isin value="US9116848840"/>
          <ticker value="UZF"/>
        </identifiers>
        <balance>297458.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>5241209.96000000</valUSD>
        <pctVal>0.039310223576</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EP</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>CHS Inc</name>
        <lei>XEIEFTLYDQ1MZ6TZV015</lei>
        <title>CHS Inc 8% CUMULATIVE REDEEMABLE PREFERRED STOCK</title>
        <cusip>12542R209</cusip>
        <identifiers>
          <isin value="US12542R2094"/>
          <ticker value="CHSCP"/>
        </identifiers>
        <balance>872990.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>23788977.50000000</valUSD>
        <pctVal>0.178422545809</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EP</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>M&amp;T Bank Corporation</name>
        <lei>549300WYXDDBYRASEG81</lei>
        <title>M&amp;T Bank Corporation DEPOSITARY SHARES EACH REPRESENTING A 1/400TH INTEREST IN A SHARE OF PERPETUAL 6.350% NON-CUMULATIVE PREFERRED STOCK, SERIES K</title>
        <cusip>55261F849</cusip>
        <identifiers>
          <isin value="US55261F8499"/>
          <ticker value="MTB K"/>
        </identifiers>
        <balance>1279700.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>32094876.00000000</valUSD>
        <pctVal>0.240718605217</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EP</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>Hancock Whitney Corporation</name>
        <lei>549300GRNBWY8HIICT41</lei>
        <title>Hancock Whitney Corporation 6.25% SUBORDINATED NOTES DUE JUNE 15, 2060</title>
        <cusip>410120406</cusip>
        <identifiers>
          <isin value="US4101204067"/>
          <ticker value="HWCPZ"/>
        </identifiers>
        <balance>490803.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>10611160.86000000</valUSD>
        <pctVal>0.079586032423</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EP</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>QVC Group Inc.</name>
        <lei>549300PSXEKU4PHLCR04</lei>
        <title>QVC Group Inc. 8.0% FIXED RATE CUMULATIVE REDEEMABLE PREFERRED STOCK DUE 3/15/2031</title>
        <cusip>74915M308</cusip>
        <identifiers>
          <isin value="US74915M3088"/>
          <ticker value="QVCGP"/>
        </identifiers>
        <balance>904636.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>2288729.08000000</valUSD>
        <pctVal>0.017165969790</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EP</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>TELEPHONE &amp; DATA SYSTEMS INC</name>
        <lei>5299003YZW5BE2NNLO37</lei>
        <title>Telephone and Data Systems Inc. DEPOSITARY SHARES EACH REPRESENTING A 1/1,000 INTEREST IN A SHARE OF TELEPHONE AND DATA SYSTEMS, INC.S 6.000% SERIES V</title>
        <cusip>879433761</cusip>
        <identifiers>
          <isin value="US8794337613"/>
          <ticker value="TDS V"/>
        </identifiers>
        <balance>1963308.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>34711285.44000000</valUSD>
        <pctVal>0.260342249536</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EP</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>AT&amp;T Inc</name>
        <lei>549300Z40J86GGSTL398</lei>
        <title>AT&amp;T Inc DEPOSITARY SHARES, EACH REPRESENTING A 1/1000TH INTEREST IN A SHARE OF 4.750% PERPETUAL PREFERRED STOCK, SERIES C</title>
        <cusip>00206R706</cusip>
        <identifiers>
          <isin value="US00206R7061"/>
          <ticker value="T C"/>
        </identifiers>
        <balance>4979498.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>91622763.20000000</valUSD>
        <pctVal>0.687190807769</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EP</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>Ford Motor Company</name>
        <lei>20S05OYHG0MQM4VUIC57</lei>
        <title>Ford Motor Company 6.500% NOTES DUE AUGUST 15, 2062</title>
        <cusip>345370811</cusip>
        <identifiers>
          <isin value="US3453708113"/>
          <ticker value="F D"/>
        </identifiers>
        <balance>1707179.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>35850759.00000000</valUSD>
        <pctVal>0.268888551009</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EP</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>W.R. Berkley Corporation</name>
        <lei>SQOAGCLKBDWNVYV1OV80</lei>
        <title>W.R. Berkley Corporation SUBORDINATED DEBENTURES DUE DECEMBER 30, 2059</title>
        <cusip>084423805</cusip>
        <identifiers>
          <isin value="US0844238057"/>
          <ticker value="WRB F"/>
        </identifiers>
        <balance>853593.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>16124371.77000000</valUSD>
        <pctVal>0.120936322747</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EP</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>New Mountain Finance Corporation</name>
        <lei>549300L1MPTT1H7SES77</lei>
        <title>New Mountain Finance Corporation 8.250% SENIOR UNSECURED NOTES DUE NOVEMBER 15, 2028</title>
        <cusip>647551308</cusip>
        <identifiers>
          <isin value="US6475513080"/>
          <ticker value="NMFCZ"/>
        </identifiers>
        <balance>338134.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>8578459.58000000</valUSD>
        <pctVal>0.064340327253</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EP</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <loanByFundCondition isLoanByFund="Y" loanVal="55814.00000000"/>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>NextEra Energy Capital Holdings Inc</name>
        <lei>UMI46YPGBLUE4VGNNT48</lei>
        <title>NextEra Energy Capital Holdings Inc SERIES N JUNIOR SUBORDINATED DEBENTURES DUE ON MARCH 1, 2079</title>
        <cusip>65339K860</cusip>
        <identifiers>
          <isin value="US65339K8606"/>
          <ticker value="NEE N"/>
        </identifiers>
        <balance>1956260.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>44720103.60000000</valUSD>
        <pctVal>0.335410579675</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EP</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>Global Net Lease Inc</name>
        <lei>549300NUYANCT5SU8Z65</lei>
        <title>Global Net Lease Inc 7.25% SERIES A CUMULATIVE REDEEMABLE PREFERRED STOCK</title>
        <cusip>379378300</cusip>
        <identifiers>
          <isin value="US3793783008"/>
          <ticker value="GNL A"/>
        </identifiers>
        <balance>483684.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>10500779.64000000</valUSD>
        <pctVal>0.078758149077</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EP</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>Morgan Stanley</name>
        <lei>IGJSJL3JD5P30I6NJZ34</lei>
        <title>Morgan Stanley DEPOSITARY SHARES EACH REPRESENTING 1/1,000 TH OF A SHARE OF FIXED-TO-FLOATING RATE NON-CUMULATIVE PREFERRED STOCK, SERIES E</title>
        <cusip>61762V200</cusip>
        <identifiers>
          <isin value="US61762V2007"/>
          <ticker value="MS E"/>
        </identifiers>
        <balance>2454280.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>61774227.60000000</valUSD>
        <pctVal>0.463320247951</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EP</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>Morgan Stanley</name>
        <lei>IGJSJL3JD5P30I6NJZ34</lei>
        <title>Morgan Stanley DEPOSITARY SHARES OF MONGAN STANLEY, EACH REPRESENTING A 1/1000TH INTEREST IN A FIXED-TO-FLOATING RATE NON-CUMULATIVE PREFERRED STOCK,</title>
        <cusip>61763E207</cusip>
        <identifiers>
          <isin value="US61763E2072"/>
          <ticker value="MS F"/>
        </identifiers>
        <balance>2418656.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>60587332.80000000</valUSD>
        <pctVal>0.454418276783</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EP</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>M&amp;T Bank Corporation</name>
        <lei>549300WYXDDBYRASEG81</lei>
        <title>M&amp;T Bank Corporation DEPOSITARY SHARES, EACH REPRESENTING A 1/400TH INTEREST IN A SHARE OF PERPETUAL 7.500% NON-CUMULATIVE PREFERRED STOCK, SERIES J</title>
        <cusip>55261F864</cusip>
        <identifiers>
          <isin value="US55261F8648"/>
          <ticker value="MTB J"/>
        </identifiers>
        <balance>2134091.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>54696752.33000000</valUSD>
        <pctVal>0.410237632038</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EP</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>Gladstone Investment Corporation</name>
        <lei>549300HFFTVIBC98Z362</lei>
        <title>Gladstone Investment Corporation CALLABLE 4.875% NOTES DUE NOVEMBER 1, 2028</title>
        <cusip>376546883</cusip>
        <identifiers>
          <isin value="US3765468836"/>
          <ticker value="GAINZ"/>
        </identifiers>
        <balance>396542.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>9417872.50000000</valUSD>
        <pctVal>0.070636108153</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EP</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>Two Harbors Investment Corp.</name>
        <lei>549300ZUIBT6KH4HU823</lei>
        <title>Two Harbors Investment Corp. 9.375% SENIOR NOTES DUE ON AUGUST 15, 2030</title>
        <cusip>90187B887</cusip>
        <identifiers>
          <isin value="US90187B8871"/>
          <ticker value="TWOD"/>
        </identifiers>
        <balance>339043.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>8523541.02000000</valUSD>
        <pctVal>0.063928426015</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EP</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>Athene Holding Ltd</name>
        <lei>549300H316CT32FQXI76</lei>
        <title>Athene Holding Ltd DEPOSITARY SHARES EACH REPRESENTING A 1/1,000TH INTEREST IN A SHARE OF THE ISSUERS 4.875% FIXED-RATE PERPETUAL NON-CUMULATIVE PREFE</title>
        <cusip>04686J408</cusip>
        <identifiers>
          <isin value="US04686J4085"/>
          <ticker value="ATH D"/>
        </identifiers>
        <balance>1636079.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>26537201.38000000</valUSD>
        <pctVal>0.199034827321</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EP</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>Annaly Capital Management, Inc.</name>
        <lei>2DTL0G3FPRYUT58TI025</lei>
        <title>Annaly Capital Management, Inc. 6.50% SERIES G FIXED-TO-FLOATING RATE CUMULATIVE REDEEMABLE PREFERRED STOCK</title>
        <cusip>035710862</cusip>
        <identifiers>
          <isin value="US0357108622"/>
          <ticker value="NLY G"/>
        </identifiers>
        <balance>1209312.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>29507212.80000000</valUSD>
        <pctVal>0.221310564000</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EP</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>Seapeak LLC</name>
        <lei>549300CP38L0UER0I397</lei>
        <title>Seapeak LLC 9.00% SERIES A CUMULATIVE REDEEMABLE PERPETUAL PREFERRED UNITS</title>
        <cusip>000000000</cusip>
        <identifiers>
          <isin value="MHY8564M1131"/>
          <ticker value="SEAL A"/>
          <other otherDesc="SEDOL" value="BZ0BDR5"/>
        </identifiers>
        <balance>350902.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>8842730.40000000</valUSD>
        <pctVal>0.066322416332</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EP</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>MH</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>Agnc Investment Corp</name>
        <lei>5TRACI5HRMELWV32OF39</lei>
        <title>Agnc Investment Corp DEPOSITARY SHARES EACH REPRESENTING 1/1,000TH OF A SHARE OF 6.125% SERIES F FIXED-TO-FLOATING RATE CUMULATIVE REDEEMABLE PREFERRE</title>
        <cusip>00123Q872</cusip>
        <identifiers>
          <isin value="US00123Q8722"/>
          <ticker value="AGNCP"/>
        </identifiers>
        <balance>1636080.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>39707661.60000000</valUSD>
        <pctVal>0.297816165945</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EP</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>EPR Properties</name>
        <lei>549300YSSXFHMPOWZ492</lei>
        <title>EPR Properties SERIES E CUMULATIVE CONVERTIBLE PREFERRED SHARES</title>
        <cusip>26884U307</cusip>
        <identifiers>
          <isin value="US26884U3077"/>
          <ticker value="EPRPE"/>
        </identifiers>
        <balance>245119.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>7446715.22000000</valUSD>
        <pctVal>0.055851996474</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EP</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>Southern Co.</name>
        <lei>549300FC3G3YU2FBZD92</lei>
        <title>Southern Co. 4.95% JUNIOR SUBORDINATED NOTES DUE JANUARY 30, 2080</title>
        <cusip>842587800</cusip>
        <identifiers>
          <isin value="US8425878001"/>
          <ticker value="SOJD"/>
        </identifiers>
        <balance>2845407.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>54916355.10000000</valUSD>
        <pctVal>0.411884700950</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EP</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>STRIVE INC</name>
        <lei>N/A</lei>
        <title>Strive Inc. VARIABLE RATE SERIES A PERPETUAL PREFERRED STOCK</title>
        <cusip>862945201</cusip>
        <identifiers>
          <isin value="US8629452017"/>
          <ticker value="SATA"/>
        </identifiers>
        <balance>236159.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>23552137.07000000</valUSD>
        <pctVal>0.176646190668</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EP</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>Rithm Capital Corp.</name>
        <lei>549300WNTHGEO5LP2G31</lei>
        <title>Rithm Capital Corp. 7.00% FIXED-RATE RESET SERIES D CUMULATIVE REDEEMABLE PREFERRED STOCK</title>
        <cusip>64828T706</cusip>
        <identifiers>
          <isin value="US64828T7063"/>
          <ticker value="RITM D"/>
        </identifiers>
        <balance>1323180.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>32192969.40000000</valUSD>
        <pctVal>0.241454327219</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EP</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>Brunswick Corporation</name>
        <lei>YM4O38W15AX4YLLQKU27</lei>
        <title>Brunswick Corporation 6.375% SENIOR UNSECURED FIXED RATE SECURITY DUE ON APRIL 15, 2049</title>
        <cusip>117043604</cusip>
        <identifiers>
          <isin value="US1170436042"/>
          <ticker value="BC C"/>
        </identifiers>
        <balance>611864.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>14391041.28000000</valUSD>
        <pctVal>0.107935964125</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EP</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>Ready Capital Corp.</name>
        <lei>549300MYWGZUG7ZUYO87</lei>
        <title>Ready Capital Corp. 9% NOTES DUE ON DECEMBER 15, 2029</title>
        <cusip>75574U838</cusip>
        <identifiers>
          <isin value="US75574U8383"/>
          <ticker value="RCD"/>
        </identifiers>
        <balance>369903.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>6880195.80000000</valUSD>
        <pctVal>0.051602976643</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EP</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>Western Alliance Bancorp</name>
        <lei>5493003VJXZ5JXT9S762</lei>
        <title>Western Alliance Bancorp DEPOSITARY SHARES EACH REPRESENTING A 1/400TH INTEREST IN A SHARE OF 4.250% FIXED-RATE RESET NON-CUMULATIVE PERPETUAL PREFERR</title>
        <cusip>957638406</cusip>
        <identifiers>
          <isin value="US9576384062"/>
          <ticker value="WAL A"/>
        </identifiers>
        <balance>853593.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>19564351.56000000</valUSD>
        <pctVal>0.146736925218</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EP</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>American Financial Group, Inc.</name>
        <lei>549300AFOM7IVKIU1G39</lei>
        <title>American Financial Group, Inc. 5.625% SUBORDINATED DEBENTURES DUE 1-JUN-2060</title>
        <cusip>025932872</cusip>
        <identifiers>
          <isin value="US0259328724"/>
          <ticker value="AFGD"/>
        </identifiers>
        <balance>442099.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>8656298.42000000</valUSD>
        <pctVal>0.064924135616</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EP</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>Prudential Financial, Inc.</name>
        <lei>5PRBRS5FEH7NREC8OR45</lei>
        <title>Prudential Financial, Inc. 5.950% JUNIOR SUBORDINATED NOTES DUE SEPTEMBER 1, 2062</title>
        <cusip>744320870</cusip>
        <identifiers>
          <isin value="US7443208704"/>
          <ticker value="PRH"/>
        </identifiers>
        <balance>863488.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>20214254.08000000</valUSD>
        <pctVal>0.151611336577</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EP</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>Reinsurance Group of America, Incorporated</name>
        <lei>LORM1GNEU1DKEW527V90</lei>
        <title>Reinsurance Group of America, Incorporated 7.125% FIXED-RATE RESET SUBORDINATED DEBENTURES DUE OCTOBER 15, 2052</title>
        <cusip>759351885</cusip>
        <identifiers>
          <isin value="US7593518852"/>
          <ticker value="RZC"/>
        </identifiers>
        <balance>1992058.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>50618193.78000000</valUSD>
        <pctVal>0.379647548891</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EP</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>Public Storage</name>
        <lei>254900GLQZAD4N7N5Q19</lei>
        <title>Public Storage DEPOSITARY SHARES EACH REPRESENTING 1/1000 OF A 5.60% CUMULATIVE PREFERRED SHARE OF BENEFICIAL INTEREST SERIES H</title>
        <cusip>74460W644</cusip>
        <identifiers>
          <isin value="US74460W6443"/>
          <ticker value="PSA H"/>
        </identifiers>
        <balance>810920.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>17694274.40000000</valUSD>
        <pctVal>0.132710936596</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EP</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>Tennessee Valley Authority</name>
        <lei>549300HE1ISW43LNKM54</lei>
        <title>Tennessee Valley Authority POWER BONDS 1998 SERIES D DUE JUNE 1, 2028 PUTTABLE AUTOMATIC RATE RESET SECURITIES</title>
        <cusip>880591300</cusip>
        <identifiers>
          <isin value="US8805913006"/>
          <ticker value="TVC"/>
        </identifiers>
        <balance>729721.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>17878164.50000000</valUSD>
        <pctVal>0.134090152655</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EP</assetCat>
        <issuerCat>USGA</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>Fossil Group Inc</name>
        <lei>DDMY8YZ6L8UEMS1FDM73</lei>
        <title>FOSL 7.5 06/30/29</title>
        <cusip>34988VAF3</cusip>
        <identifiers>
          <isin value="US34988VAF31"/>
        </identifiers>
        <balance>1174925.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>1080237.79000000</valUSD>
        <pctVal>0.008102020213</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2029-06-30</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>7.50000000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
        </debtSec>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>Pacific Gas and Electric Company</name>
        <lei>1HNPXZSMMB7HMBMVBS46</lei>
        <title>Pacific Gas and Electric Company 6.00% FIRST PREFERRED</title>
        <cusip>694308206</cusip>
        <identifiers>
          <isin value="US6943082064"/>
          <ticker value="PCG A"/>
        </identifiers>
        <balance>299581.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>6680656.30000000</valUSD>
        <pctVal>0.050106386654</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EP</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>American Financial Group, Inc.</name>
        <lei>549300AFOM7IVKIU1G39</lei>
        <title>American Financial Group, Inc. 4.50% SUBORDINATED DEBENTURES DUE ON SEPTEMBER 15, 2060</title>
        <cusip>025932864</cusip>
        <identifiers>
          <isin value="US0259328641"/>
          <ticker value="AFGE"/>
        </identifiers>
        <balance>569022.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>9218156.40000000</valUSD>
        <pctVal>0.069138193625</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EP</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>PINNACLE FINANCIAL PARTNERS INC</name>
        <lei>N/A</lei>
        <title>Pinnacle Financial Partners Inc. FIXED TO FLTG RATE NON-CUM PERP PFD SER A</title>
        <cusip>72348N208</cusip>
        <identifiers>
          <isin value="US72348N2080"/>
          <ticker value="PNFP A"/>
        </identifiers>
        <balance>569014.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>14629349.94000000</valUSD>
        <pctVal>0.109723331313</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EP</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>RLJ LODGING TRUST</name>
        <lei>N/A</lei>
        <title>RLJ Lodging Trust LP SERIES A CUMULATIVE CONVERTIBLE PREFERRED SHARES</title>
        <cusip>74965L200</cusip>
        <identifiers>
          <isin value="US74965L2007"/>
          <ticker value="RLJPA"/>
        </identifiers>
        <balance>916159.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>22079431.90000000</valUSD>
        <pctVal>0.165600579075</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EP</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>Brookfield Property Partners LP</name>
        <lei>5493004J5Z0TZW83NU62</lei>
        <title>Brookfield Property Partners LP 6.375% PFD UNITS CL A SR 2</title>
        <cusip>000000000</cusip>
        <identifiers>
          <isin value="BMG162491564"/>
          <ticker value="BPYPO"/>
          <other otherDesc="SEDOL" value="BK1KVK5"/>
        </identifiers>
        <balance>711308.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>10570036.88000000</valUSD>
        <pctVal>0.079277593559</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EP</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>BM</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>Brc Group Holdings Inc.</name>
        <lei>529900LRQ75IKIPK4990</lei>
        <title>Brc Group Holdings Inc. 6.00% SENIOR NOTES DUE JANUARY 31, 2028</title>
        <cusip>05580M835</cusip>
        <identifiers>
          <isin value="US05580M8358"/>
          <ticker value="RILYT"/>
        </identifiers>
        <balance>647352.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>11011457.52000000</valUSD>
        <pctVal>0.082588345118</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EP</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>Brookfield Property Partners LP</name>
        <lei>5493004J5Z0TZW83NU62</lei>
        <title>Brookfield Property Partners LP 5.750% CLASS A CUMULATIVE REDEEMABLE PERPETUAL PREFERRED UNITS SERIES 3</title>
        <cusip>000000000</cusip>
        <identifiers>
          <isin value="BMG162491648"/>
          <ticker value="BPYPN"/>
          <other otherDesc="SEDOL" value="BLK7825"/>
        </identifiers>
        <balance>818040.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>10855390.80000000</valUSD>
        <pctVal>0.081417810508</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EP</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>BM</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>Entergy New Orleans Llc</name>
        <lei>1Q8BAFRNDFTDI3IGJH73</lei>
        <title>Entergy New Orleans Llc FIRST MORTGAGE BONDS, 5.50% SERIES DUE APRIL 1, 2066</title>
        <cusip>29364P103</cusip>
        <identifiers>
          <isin value="US29364P1030"/>
          <ticker value="ENO"/>
        </identifiers>
        <balance>312928.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>6849993.92000000</valUSD>
        <pctVal>0.051376455923</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EP</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>Kemper Corporation</name>
        <lei>549300FNI1JKTRY2PV09</lei>
        <title>Kemper Corporation 5.875% FIXED-RATE RESET JUNIOR SUBORDINATED DEBENTURES DUE MARCH 15, 2062</title>
        <cusip>488401308</cusip>
        <identifiers>
          <isin value="US4884013081"/>
          <ticker value="KMPB"/>
        </identifiers>
        <balance>426913.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>9729347.27000000</valUSD>
        <pctVal>0.072972237204</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EP</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>Federal Agricultural Mortgage Corporation</name>
        <lei>549300MS654K78GYF580</lei>
        <title>Federal Agricultural Mortgage Corporation 5.700% NON CUMULATIVE PERPETUAL SERIES D PREFERRED STOCK</title>
        <cusip>313148868</cusip>
        <identifiers>
          <isin value="US3131488682"/>
          <ticker value="AGM D"/>
        </identifiers>
        <balance>298701.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>6132331.53000000</valUSD>
        <pctVal>0.045993830686</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EP</assetCat>
        <issuerCat>USGSE</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>CHS Inc</name>
        <lei>XEIEFTLYDQ1MZ6TZV015</lei>
        <title>CHS Inc CLASS B CUMULATIVE REDEEMABLE PREFERRED STOCK, SERIES 4</title>
        <cusip>12542R803</cusip>
        <identifiers>
          <isin value="US12542R8034"/>
          <ticker value="CHSCL"/>
        </identifiers>
        <balance>1472506.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>37195501.56000000</valUSD>
        <pctVal>0.278974414978</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EP</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>Wells Fargo &amp; Co.</name>
        <lei>PBLD0EJDB5FWOLXP3B76</lei>
        <title>Wells Fargo &amp; Co. DEPOSITARY SHARES, EACH REPRESENTING A 1/1,000TH INTEREST IN A SHARE OF NON-CUMULATIVE PERPETUAL CLASS A PREFERRED STOCK, SERIES DD</title>
        <cusip>95002Y400</cusip>
        <identifiers>
          <isin value="US95002Y4008"/>
          <ticker value="WFC D"/>
        </identifiers>
        <balance>3267330.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>56361442.50000000</valUSD>
        <pctVal>0.422723173215</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EP</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>Vornado Realty Trust</name>
        <lei>N/A</lei>
        <title>Vornado Realty Trust CUMULATIVE REDEEMABLE PREFERRED SHARES OF BENEFICIAL INTEREST, SERIES M</title>
        <cusip>929042828</cusip>
        <identifiers>
          <isin value="US9290428286"/>
          <ticker value="VNO M"/>
        </identifiers>
        <balance>909110.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>14718490.90000000</valUSD>
        <pctVal>0.110391908052</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EP</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>Adamas Trust Inc.</name>
        <lei>549300JFGR0M7ULHWG48</lei>
        <title>Adamas Trust Inc. 8.00% SERIES D FIXED-TO-FLOATING RATE CUMULATIVE REDEEMABLE PREFERRED STOCK</title>
        <cusip>649604881</cusip>
        <identifiers>
          <isin value="US6496048819"/>
          <ticker value="ADAMN"/>
        </identifiers>
        <balance>453059.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>9826849.71000000</valUSD>
        <pctVal>0.073703526876</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EP</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>Agnc Investment Corp</name>
        <lei>5TRACI5HRMELWV32OF39</lei>
        <title>Agnc Investment Corp DEPOSITARY SHARES, EACH REPRESENTING A 1/1,000TH FRACTIONAL INTEREST IN A SHARE OF 7.75% SERIES G FIXED-RATE RESET CUMULATIVE RED</title>
        <cusip>00123Q856</cusip>
        <identifiers>
          <isin value="US00123Q8565"/>
          <ticker value="AGNCL"/>
        </identifiers>
        <balance>442075.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>10848520.50000000</valUSD>
        <pctVal>0.081366281752</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EP</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>Citizens Financial Group Inc</name>
        <lei>2138004JDDA4ZQUPFW65</lei>
        <title>Citizens Financial Group Inc DEP SHS EA REP 1/40TH NON E</title>
        <cusip>174610402</cusip>
        <identifiers>
          <isin value="US1746104025"/>
          <ticker value="CFG E"/>
        </identifiers>
        <balance>1280506.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>23843021.72000000</valUSD>
        <pctVal>0.178827889305</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EP</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>KeyCorp</name>
        <lei>RKPI3RZGV1V1FJTH5T61</lei>
        <title>KeyCorp DEP SHS EACH REP A 1/40TH OWNERSHIP INT IN SHS OF FIXED-RATE PERPL NON CUMULATIVE PFD STOCK SERIES F</title>
        <cusip>493267876</cusip>
        <identifiers>
          <isin value="US4932678760"/>
          <ticker value="KEY J"/>
        </identifiers>
        <balance>1209328.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>25154022.40000000</valUSD>
        <pctVal>0.188660681778</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EP</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>Capital One Financial Corp.</name>
        <lei>ZUE8T73ROZOF6FLBAR73</lei>
        <title>Capital One Financial Corp. DEPOSITARY SHARES EACH REPRESENTING A 1/40TH INTEREST IN A SHARE OF FIXED RATE NON-CUMULATIVE PERPETUAL PREFERRED STOCK, S</title>
        <cusip>14040H824</cusip>
        <identifiers>
          <isin value="US14040H8245"/>
          <ticker value="COF I"/>
        </identifiers>
        <balance>4268183.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>79601612.95000000</valUSD>
        <pctVal>0.597029545850</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EP</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>Public Storage</name>
        <lei>254900GLQZAD4N7N5Q19</lei>
        <title>Public Storage DEPOSITARY SHARES EACH REPRESENTING 1/1000 OF A 3.875% CUMULATIVE PREFERRED SHARE OF BENEFICIAL INTEREST, SERIES N</title>
        <cusip>74460W511</cusip>
        <identifiers>
          <isin value="US74460W5114"/>
          <ticker value="PSA N"/>
        </identifiers>
        <balance>803856.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>11816683.20000000</valUSD>
        <pctVal>0.088627714224</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EP</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>Franklin Bsp Realty Trust Inc</name>
        <lei>549300LH3QNZK9Y1KC93</lei>
        <title>Franklin Bsp Realty Trust Inc 7.50% SERIES E CUMULATIVE REDEEMABLE PREFERRED STOCK</title>
        <cusip>35243J200</cusip>
        <identifiers>
          <isin value="US35243J2006"/>
          <ticker value="FBRT E"/>
        </identifiers>
        <balance>734817.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>14145227.25000000</valUSD>
        <pctVal>0.106092305018</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EP</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>BLACKROCK GLOBAL</name>
        <lei>N/A</lei>
        <title>BLACKROCK GLOBAL</title>
        <cusip>000000000</cusip>
        <identifiers>
          <other otherDesc="INTERNAL" value="962AZX905"/>
        </identifiers>
        <balance>167045830.57000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>167079239.74000000</valUSD>
        <pctVal>1.253130921928</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>STIV</assetCat>
        <issuerCat>RF</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <cashCollateralCondition cashCollateralVal="167079239.74000000" isCashCollateral="Y"/>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>Pitney Bowes Inc.</name>
        <lei>549300N2O26NW4ST6W55</lei>
        <title>Pitney Bowes Inc. 6.70% NOTES DUE 2043</title>
        <cusip>724479506</cusip>
        <identifiers>
          <isin value="US7244795065"/>
          <ticker value="PBI B"/>
        </identifiers>
        <balance>1012948.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>19448601.60000000</valUSD>
        <pctVal>0.145868775146</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EP</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>Runway Growth Finance Corp</name>
        <lei>254900AXR3J2N1XT0V02</lei>
        <title>Runway Growth Finance Corp 7.25% CALLABLE NOTES DUE FEBRUARY 3, 2031</title>
        <cusip>78163D407</cusip>
        <identifiers>
          <isin value="US78163D4079"/>
          <ticker value="RWAYI"/>
        </identifiers>
        <balance>285950.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>7148750.00000000</valUSD>
        <pctVal>0.053617192010</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EP</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>Fifth Third Bancorp</name>
        <lei>THRNG6BD57P9QWTQLG42</lei>
        <title>Fifth Third Bancorp 6% DEP SHS EACH REP A 1/40TH INT IN A SHARE OF THE NON-CUMULATIVE PERPETUAL CL B PFD STK SER A</title>
        <cusip>316773886</cusip>
        <identifiers>
          <isin value="US3167738869"/>
          <ticker value="FITBP"/>
        </identifiers>
        <balance>569030.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>13116141.50000000</valUSD>
        <pctVal>0.098373936316</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EP</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>Arch Capital Group Ltd.</name>
        <lei>549300AYR4P8AFKDCE43</lei>
        <title>Arch Capital Group Ltd. DEPOSITARY SHARES EACH REPRESENTING 1/1,000 TH INTEREST IN A SHARE OF5.45 % NON-CUMULATIVE PREFERRED SHARES, SERIES F</title>
        <cusip>03939A107</cusip>
        <identifiers>
          <isin value="US03939A1079"/>
          <ticker value="ACGLO"/>
        </identifiers>
        <balance>938940.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>18290551.20000000</valUSD>
        <pctVal>0.137183143300</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EP</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>BM</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>CION Investment Corp.</name>
        <lei>549300XN70JLF94XKX80</lei>
        <title>CION Investment Corp. NOTES ISSUED DUE ON MARCH 31, 2031</title>
        <cusip>17259U402</cusip>
        <identifiers>
          <isin value="US17259U4022"/>
          <ticker value="CICC"/>
        </identifiers>
        <balance>362510.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>8845244.00000000</valUSD>
        <pctVal>0.066341268883</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EP</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <loanByFundCondition isLoanByFund="Y" loanVal="73200.00000000"/>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>KKR &amp; Co Inc.</name>
        <lei>54930013V5I303TF9571</lei>
        <title>KKR &amp; Co Inc. 6.875% NOTES ISSUED DUE ON JUNE 1, 2065</title>
        <cusip>48251W609</cusip>
        <identifiers>
          <isin value="US48251W6093"/>
          <ticker value="KKRT"/>
        </identifiers>
        <balance>1678913.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>39051516.38000000</valUSD>
        <pctVal>0.292894932967</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EP</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>Invesco Mortgage Capital Inc.</name>
        <lei>PV3BDP2HFZL2FNXQBL39</lei>
        <title>Invesco Mortgage Capital Inc. 7.50% FIXED-TO-FLOATING SERIES C CUMULATIVE REDEEMABLE PREFERRED STOCK.</title>
        <cusip>46131B506</cusip>
        <identifiers>
          <isin value="US46131B5066"/>
          <ticker value="IVR C"/>
        </identifiers>
        <balance>497030.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>11610620.80000000</valUSD>
        <pctVal>0.087082201055</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EP</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>Morgan Stanley</name>
        <lei>IGJSJL3JD5P30I6NJZ34</lei>
        <title>Morgan Stanley DEPOSITARY SHARES EACH REPRESENTING 1/1,000 TH OF A SHARE OF FIXED-TO-FLOATING RATE NON-CUMULATIVE PREFERRED STOCK, SERIES K</title>
        <cusip>61762V606</cusip>
        <identifiers>
          <isin value="US61762V6065"/>
          <ticker value="MS K"/>
        </identifiers>
        <balance>2845407.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>66497161.59000000</valUSD>
        <pctVal>0.498743288146</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EP</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>Regency Centers Corp.</name>
        <lei>529900053A7X7FJ97S58</lei>
        <title>Regency Centers Corp. CUM RED PFD SER A 6.25%</title>
        <cusip>758849889</cusip>
        <identifiers>
          <isin value="US7588498896"/>
          <ticker value="REGCP"/>
        </identifiers>
        <balance>327230.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>7313590.50000000</valUSD>
        <pctVal>0.054853531893</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EP</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>Kimco Realty Corporation</name>
        <lei>254900ARY41P4V1JL861</lei>
        <title>Kimco Realty Corporation DEP SHS REP 1/1000 SHS CL M</title>
        <cusip>49446R711</cusip>
        <identifiers>
          <isin value="US49446R7118"/>
          <ticker value="KIM M"/>
        </identifiers>
        <balance>744483.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>14889660.00000000</valUSD>
        <pctVal>0.111675713823</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EP</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>Shift4 Payments Inc</name>
        <lei>N/A</lei>
        <title>Shift4 Payments Inc 6.00% SERIES A MANDATORY CONVERTIBLE PREFERRED STOCK</title>
        <cusip>82452J307</cusip>
        <identifiers>
          <isin value="US82452J3077"/>
          <ticker value="FOURPA"/>
        </identifiers>
        <balance>711307.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>38154507.48000000</valUSD>
        <pctVal>0.286167169593</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EP</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>Morgan Stanley</name>
        <lei>IGJSJL3JD5P30I6NJZ34</lei>
        <title>Morgan Stanley DEPOSITARY SHARES, EACH REPRESENTING 1/1,000TH OWNERSHIP INTEREST IN A SHARE OF 6.625% NONCUMULATIVE PREFERRED STOCK, SERIES Q</title>
        <cusip>61762V838</cusip>
        <identifiers>
          <isin value="US61762V8384"/>
          <ticker value="MS Q"/>
        </identifiers>
        <balance>2845407.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>71818072.68000000</valUSD>
        <pctVal>0.538651287668</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EP</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>The Charles Schwab Corporation</name>
        <lei>549300VSGCJ7E698NM85</lei>
        <title>The Charles Schwab Corporation DEPOSITARY SHARES, EACH REPRESENTING A 1/40TH INTEREST IN A SHARE OF 5.95% NON-CUMULATIVE PERPETUAL PREFERRED STOCK, SE</title>
        <cusip>808513600</cusip>
        <identifiers>
          <isin value="US8085136005"/>
          <ticker value="SCHW D"/>
        </identifiers>
        <balance>2134092.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>51773071.92000000</valUSD>
        <pctVal>0.388309388091</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EP</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>ATLANTICUS HOLDINGS CORP</name>
        <lei>N/A</lei>
        <title>Atlanticus Holdings Corp. 6.125% SENIOR CALLABLE NOTES DUE NOVEMBER 30, 2026</title>
        <cusip>04914Y300</cusip>
        <identifiers>
          <isin value="US04914Y3009"/>
          <ticker value="ATLCL"/>
        </identifiers>
        <balance>421676.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>10537683.24000000</valUSD>
        <pctVal>0.079034934167</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EP</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>Capital One Financial Corp.</name>
        <lei>ZUE8T73ROZOF6FLBAR73</lei>
        <title>Capital One Financial Corp. DEPOSITARY SHARES EACH REPRESENTING A 1/40TH INTEREST IN A SHARE OF FIXED RATE NON-CUMULATIVE PERPETUAL PREFERRED STOCK, S</title>
        <cusip>14040H733</cusip>
        <identifiers>
          <isin value="US14040H7338"/>
          <ticker value="COF N"/>
        </identifiers>
        <balance>1209328.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>18950169.76000000</valUSD>
        <pctVal>0.142130427089</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EP</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>Novanta Inc</name>
        <lei>549300NBPHPTUPTS8070</lei>
        <title>NOVT 6.5 11/01/28</title>
        <cusip>67000B203</cusip>
        <identifiers>
          <isin value="CA67000B2030"/>
          <ticker value="NOVTU"/>
        </identifiers>
        <balance>899867.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>48268865.88000000</valUSD>
        <pctVal>0.362027074666</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EP</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>Oracle Corp.</name>
        <lei>1Z4GXXU7ZHVWFCD8TV52</lei>
        <title>Oracle Corp. DEPOSITARY SHARES EACH REPRESENTING A 1/2,000TH INTEREST IN A SHARE OF 6.50% SERIES D MANDATORY CONVERTIBLE PREFERRED STOCK</title>
        <cusip>68389X204</cusip>
        <identifiers>
          <isin value="US68389X2045"/>
          <ticker value="ORCL"/>
        </identifiers>
        <balance>7121400.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>320534214.00000000</valUSD>
        <pctVal>2.404076866309</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EP</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>Texas Capital Bancshares, Inc.</name>
        <lei>549300466Q2SXRX0YM48</lei>
        <title>Texas Capital Bancshares, Inc. DEPOSITARY SHARES, EACH REPRESENTING A 1/40TH INTEREST IN A SHARE OF 5.75% FIXED RATE NON-CUMULATIVE PERPETUAL PREFERRE</title>
        <cusip>88224Q305</cusip>
        <identifiers>
          <isin value="US88224Q3056"/>
          <ticker value="TCBIO"/>
        </identifiers>
        <balance>853593.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>18855869.37000000</valUSD>
        <pctVal>0.141423153493</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EP</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <loanByFundCondition isLoanByFund="Y" loanVal="927.78000000"/>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>QVC, Inc.</name>
        <lei>549300WBLU5NKPX5X472</lei>
        <title>QVC, Inc. 6.375 % PREFERRED CUMULATIVE SENIOR SECURED NOTES DUE 2067</title>
        <cusip>747262301</cusip>
        <identifiers>
          <isin value="US7472623013"/>
          <ticker value="QVCD"/>
        </identifiers>
        <balance>661878.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>6949719.00000000</valUSD>
        <pctVal>0.052124415882</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EP</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>Equitable Holdings Inc</name>
        <lei>549300FIBAKMNHPZ4009</lei>
        <title>Equitable Holdings Inc 5.25% DEPOSITARY SHARES EACH REPRESENTING A 1/1,000TH INTEREST IN A SHARE OF FIXED RATE NONCUMULATIVE PERPETUAL PREFERRED STOCK</title>
        <cusip>29452E200</cusip>
        <identifiers>
          <isin value="US29452E2000"/>
          <ticker value="EQH A"/>
        </identifiers>
        <balance>2320051.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>45032189.91000000</valUSD>
        <pctVal>0.337751295410</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EP</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>WaFd Inc</name>
        <lei>N/A</lei>
        <title>WaFd Inc DEPOSITARY SHARES, EACH REPRESENTING A 1/40TH INTEREST IN A SHARE OF 4.875% FIXED RATE NON-CUMULATIVE PERPETUAL PREFERRED STOCK, SERIES A</title>
        <cusip>938824307</cusip>
        <identifiers>
          <isin value="US9388243076"/>
          <ticker value="WAFDP"/>
        </identifiers>
        <balance>870010.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>14024561.20000000</valUSD>
        <pctVal>0.105187283192</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EP</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>Ford Motor Company</name>
        <lei>20S05OYHG0MQM4VUIC57</lei>
        <title>Ford Motor Company 6.200% NOTES DUE JUNE 1, 2059</title>
        <cusip>345370845</cusip>
        <identifiers>
          <isin value="US3453708451"/>
          <ticker value="F B"/>
        </identifiers>
        <balance>2134092.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>42404408.04000000</valUSD>
        <pctVal>0.318042355373</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EP</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>CHS Inc</name>
        <lei>XEIEFTLYDQ1MZ6TZV015</lei>
        <title>CHS Inc CLASS B RESET RATE CUMULATIVE REDEEMABLE PREFERRED STOCK, SERIES 3</title>
        <cusip>12542R704</cusip>
        <identifiers>
          <isin value="US12542R7044"/>
          <ticker value="CHSCM"/>
        </identifiers>
        <balance>1402757.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>33960746.97000000</valUSD>
        <pctVal>0.254713046492</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EP</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>Duke Energy Corp</name>
        <lei>I1BZKREC126H0VB1BL91</lei>
        <title>Duke Energy Corp 5.625% JUNIOR SUBORDINATED DEBENTURES DUE 2078</title>
        <cusip>26441C402</cusip>
        <identifiers>
          <isin value="US26441C4024"/>
          <ticker value="DUKB"/>
        </identifiers>
        <balance>1422784.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>33051272.32000000</valUSD>
        <pctVal>0.247891787260</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EP</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>Assurant Inc.</name>
        <lei>H3F39CAXWQRVWURFXL38</lei>
        <title>Assurant Inc. 5.25% SUBORDINATED NOTES DUE JANUARY 15, 2061</title>
        <cusip>04621X306</cusip>
        <identifiers>
          <isin value="US04621X3061"/>
          <ticker value="AIZN"/>
        </identifiers>
        <balance>711307.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>14155009.30000000</valUSD>
        <pctVal>0.106165672537</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EP</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>Annaly Capital Management, Inc.</name>
        <lei>2DTL0G3FPRYUT58TI025</lei>
        <title>Annaly Capital Management, Inc. 8.875% SERIES J FIXED-RATE CUMULATIVE REDEEMABLE PREFERRED STOCK</title>
        <cusip>035710821</cusip>
        <identifiers>
          <isin value="US0357108218"/>
          <ticker value="NLY J"/>
        </identifiers>
        <balance>782486.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>19812545.52000000</valUSD>
        <pctVal>0.148598434322</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EP</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>Strategy Inc.</name>
        <lei>549300WQTWEJUEHXQX21</lei>
        <title>Strategy Inc. 8.00% SERIES A PERPETUAL STRIKE PREFERRED STOCK</title>
        <cusip>594972887</cusip>
        <identifiers>
          <isin value="US5949728878"/>
          <ticker value="STRK"/>
        </identifiers>
        <balance>992248.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>70151933.60000000</valUSD>
        <pctVal>0.526154879349</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EP</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>Fifth Third Bancorp</name>
        <lei>THRNG6BD57P9QWTQLG42</lei>
        <title>Fifth Third Bancorp DEPOSITARY SHARES EACH REPRESENTING A 1/1000TH OWNERSHIP INTEREST IN A SHARE OF 4.95% NON-CUMULATIVE PERPETUAL PREFERRED STOCK, SE</title>
        <cusip>316773860</cusip>
        <identifiers>
          <isin value="US3167738604"/>
          <ticker value="FITBO"/>
        </identifiers>
        <balance>711315.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>13450966.65000000</valUSD>
        <pctVal>0.100885198335</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EP</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>Pebblebrook Hotel Trust</name>
        <lei>5493004Q1NNH6JXCSI52</lei>
        <title>Pebblebrook Hotel Trust 6.375% SER E CUM RED PRF SHS BEN</title>
        <cusip>70509V605</cusip>
        <identifiers>
          <isin value="US70509V6056"/>
          <ticker value="PEB E"/>
        </identifiers>
        <balance>326970.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>6281093.70000000</valUSD>
        <pctVal>0.047109579569</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EP</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>Brc Group Holdings Inc.</name>
        <lei>529900LRQ75IKIPK4990</lei>
        <title>Brc Group Holdings Inc. 5.25% SENIOR NOTES DUE AUGUST 31, 2028</title>
        <cusip>05580M819</cusip>
        <identifiers>
          <isin value="US05580M8192"/>
          <ticker value="RILYZ"/>
        </identifiers>
        <balance>1088128.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>17573267.20000000</valUSD>
        <pctVal>0.131803356071</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EP</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <loanByFundCondition isLoanByFund="Y" loanVal="16803154.45000000"/>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>Bank of America Corp.</name>
        <lei>9DJT3UXIJIZJI4WXO774</lei>
        <title>Bank of America Corp. 1/1000TH INTEREST IN A SHARE OF FLOATING RATE NON CUMULATIVE PREFERRED STOCK, SERIES E</title>
        <cusip>060505815</cusip>
        <identifiers>
          <isin value="US0605058157"/>
          <ticker value="BAC E"/>
        </identifiers>
        <balance>561205.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>10432800.95000000</valUSD>
        <pctVal>0.078248294001</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EP</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <loanByFundCondition isLoanByFund="Y" loanVal="83655.00000000"/>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>Renaissancere Holdings Ltd.</name>
        <lei>EK6GB9U3U58PDI411C94</lei>
        <title>Renaissancere Holdings Ltd. DEP SHS REP 1/1000 INT PFD</title>
        <cusip>75968N309</cusip>
        <identifiers>
          <isin value="US75968N3098"/>
          <ticker value="RNR F"/>
        </identifiers>
        <balance>711307.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>14788072.53000000</valUSD>
        <pctVal>0.110913785530</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EP</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>BM</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>Bank of America Corp.</name>
        <lei>9DJT3UXIJIZJI4WXO774</lei>
        <title>Bank of America Corp. DEPOSITARY SHARES, EACH REPRESENTING A 1/1,000TH INTEREST IN A SHARE OF BANK OF AMERICA CORPORATION 4.375% NON-CUMULATIVE PREFER</title>
        <cusip>06055H400</cusip>
        <identifiers>
          <isin value="US06055H4002"/>
          <ticker value="BAC O"/>
        </identifiers>
        <balance>2073409.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>36409062.04000000</valUSD>
        <pctVal>0.273075946190</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EP</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>Valley National Bancorp.</name>
        <lei>549300ET52S1UBIB9762</lei>
        <title>Valley National Bancorp. 5.50% FIXED-TO-FLOATING RATE NON-CUMULATIVE PERPETUAL PREFERRED STOCK, SERIES B</title>
        <cusip>919794305</cusip>
        <identifiers>
          <isin value="US9197943056"/>
          <ticker value="VLYPO"/>
        </identifiers>
        <balance>284556.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>6957394.20000000</valUSD>
        <pctVal>0.052181981565</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EP</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>PennyMac Mortgage Investment Trust</name>
        <lei>549300BSSOQO1ZWDUJ97</lei>
        <title>PennyMac Mortgage Investment Trust 8.00% SERIES B CUMULATIVE REDEEMABLE PREFERRED SHARES</title>
        <cusip>70931T400</cusip>
        <identifiers>
          <isin value="US70931T4004"/>
          <ticker value="PMT B"/>
        </identifiers>
        <balance>554862.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>12184769.52000000</valUSD>
        <pctVal>0.091388442309</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EP</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>Southern Co.</name>
        <lei>549300FC3G3YU2FBZD92</lei>
        <title>SO 7.125 12/15/28 A</title>
        <cusip>842587842</cusip>
        <identifiers>
          <isin value="US8425878423"/>
          <ticker value="SOMN"/>
        </identifiers>
        <balance>2843812.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>146171936.80000000</valUSD>
        <pctVal>1.096321566984</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EP</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>Duke Energy Corp</name>
        <lei>I1BZKREC126H0VB1BL91</lei>
        <title>Duke Energy Corp DEPOSITARY SHARES EACH REPRESENTING A 1/1,000TH INTEREST IN A SHARE OF 5.75% SERIES A CUMULATIVE REDEEMABLE PERPETUAL PREFERRED STOCK</title>
        <cusip>26441C501</cusip>
        <identifiers>
          <isin value="US26441C5013"/>
          <ticker value="DUK A"/>
        </identifiers>
        <balance>2845407.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>69143390.10000000</valUSD>
        <pctVal>0.518590582026</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EP</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>Wells Fargo &amp; Co.</name>
        <lei>PBLD0EJDB5FWOLXP3B76</lei>
        <title>Wells Fargo &amp; Co. DEPOSITARY SHARES, EACH REPRESENTING A 1/1,000TH INTEREST IN A SHARE OF NON-CUMULATIVE PERPETUAL CLASS A PREFERRED STOCK, SERIES AA</title>
        <cusip>94988U128</cusip>
        <identifiers>
          <isin value="US94988U1280"/>
          <ticker value="WFC A"/>
        </identifiers>
        <balance>3060711.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>57786223.68000000</valUSD>
        <pctVal>0.433409344378</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EP</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>Adamas Trust Inc.</name>
        <lei>549300JFGR0M7ULHWG48</lei>
        <title>Adamas Trust Inc. 7.875% SERIES E FIXED-TO-FLOATING RATE CUMULATIVE REDEEMABLE PREFERRED STOCK</title>
        <cusip>649604873</cusip>
        <identifiers>
          <isin value="US6496048736"/>
          <ticker value="ADAMM"/>
        </identifiers>
        <balance>530461.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>12975076.06000000</valUSD>
        <pctVal>0.097315914595</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EP</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>SAUL CENTERS INC</name>
        <lei>N/A</lei>
        <title>Saul Centers, Inc. DEPOSITARY SHARES EACH REPRESENTING 1/100TH OF A SHARE OF 6.000% SERIES E CUMULATIVE REDEEMABLE PREFERRED STOCK</title>
        <cusip>804395879</cusip>
        <identifiers>
          <isin value="US8043958797"/>
          <ticker value="BFS E"/>
        </identifiers>
        <balance>312929.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>7069066.11000000</valUSD>
        <pctVal>0.053019545368</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EP</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <loanByFundCondition isLoanByFund="Y" loanVal="70029.00000000"/>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>PennyMac Mortgage Investment Trust</name>
        <lei>549300BSSOQO1ZWDUJ97</lei>
        <title>PennyMac Mortgage Investment Trust 9.00% SENIOR NOTES DUE FEBRUARY 15, 2030</title>
        <cusip>70931T707</cusip>
        <identifiers>
          <isin value="US70931T7072"/>
          <ticker value="PMTV"/>
        </identifiers>
        <balance>490803.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>12338787.42000000</valUSD>
        <pctVal>0.092543610320</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EP</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>Bank of America Corp.</name>
        <lei>9DJT3UXIJIZJI4WXO774</lei>
        <title>Bank of America Corp. DEPOSITARY SHARES EACH REPRESENTING A 1/1,000TH INTEREST IN A SHARE OF BANK OF AMERICA CORPORATION 4.750% NON-CUMULATIVE PREFERR</title>
        <cusip>06055H871</cusip>
        <identifiers>
          <isin value="US06055H8714"/>
          <ticker value="BAC S"/>
        </identifiers>
        <balance>1313590.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>24997617.70000000</valUSD>
        <pctVal>0.187487612244</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EP</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>CMS Energy Corporation</name>
        <lei>549300IA9XFBAGNIBW29</lei>
        <title>CMS Energy Corporation DEPOSITARY SHARES EACH REPRESENTING A 1/1,000TH INTEREST IN A SHARE OF ISSUERS 4.200% CUMULATIVE REDEEMABLE PERPETUAL PREFERRED</title>
        <cusip>125896837</cusip>
        <identifiers>
          <isin value="US1258968379"/>
          <ticker value="CMS C"/>
        </identifiers>
        <balance>654466.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>10962305.50000000</valUSD>
        <pctVal>0.082219694194</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EP</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>Redwood Trust Inc</name>
        <lei>DRBV4N1ERQLEMIF11G78</lei>
        <title>Redwood Trust Inc CALLABLE 9.500% SENIOR NOTES DUE DECEMBER 1, 2030</title>
        <cusip>758075857</cusip>
        <identifiers>
          <isin value="US7580758578"/>
          <ticker value="RWTQ"/>
        </identifiers>
        <balance>295417.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>6918666.14000000</valUSD>
        <pctVal>0.051891512626</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EP</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>Seapeak LLC</name>
        <lei>549300CP38L0UER0I397</lei>
        <title>Seapeak LLC 8.5% CUM RED PERP PFD UNTS</title>
        <cusip>000000000</cusip>
        <identifiers>
          <isin value="MHY8564M2048"/>
          <ticker value="SEAL B"/>
          <other otherDesc="SEDOL" value="BF4VQJ4"/>
        </identifiers>
        <balance>469240.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>11871772.00000000</valUSD>
        <pctVal>0.089040892300</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EP</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>MH</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>KKR GROUP FINANCE CO IX LLC</name>
        <lei>N/A</lei>
        <title>KKR Group Finance Company IX LLC 4.625% SUBORDINATED NOTES DUE APRIL 1, 2061</title>
        <cusip>48253M104</cusip>
        <identifiers>
          <isin value="US48253M1045"/>
          <ticker value="KKRS"/>
        </identifiers>
        <balance>1424479.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>22791664.00000000</valUSD>
        <pctVal>0.170942475947</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EP</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>Agnc Investment Corp</name>
        <lei>5TRACI5HRMELWV32OF39</lei>
        <title>Agnc Investment Corp DEPOSITARY SHARES EACH REPRESENTING 1/1,000 TH OF A SHARE OF 6.875% SERIES D FIXED TO FLOATING RATE CUMULATIVE REDEEMABLE PREFERR</title>
        <cusip>00123Q609</cusip>
        <identifiers>
          <isin value="US00123Q6098"/>
          <ticker value="AGNCM"/>
        </identifiers>
        <balance>668635.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>16435048.30000000</valUSD>
        <pctVal>0.123266464823</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EP</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>Maiden Holdings, Ltd.</name>
        <lei>5493000GQUKNWGNXRZ91</lei>
        <title>Maiden Holdings, Ltd. 6.625% NOTES DUE 2046</title>
        <cusip>560292302</cusip>
        <identifiers>
          <isin value="US5602923022"/>
          <ticker value="MHLA"/>
        </identifiers>
        <balance>322938.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>3432830.94000000</valUSD>
        <pctVal>0.025746984528</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EP</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>BM</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>SLM CORP (SALLIE MAE)</name>
        <lei>N/A</lei>
        <title>SLM Corp. FLOATING-RATE NON-CUMULATIVE PREFERRED STOCK, SERIES B</title>
        <cusip>78442P502</cusip>
        <identifiers>
          <isin value="US78442P5026"/>
          <ticker value="SLMBP"/>
        </identifiers>
        <balance>181558.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>13317279.30000000</valUSD>
        <pctVal>0.099882513906</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EP</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>Tennessee Valley Authority</name>
        <lei>549300HE1ISW43LNKM54</lei>
        <title>Tennessee Valley Authority POWER BONDS 1999 SERIES A DUE MAY 1, 2029 PUTABLE AUTOMATIC RATE RESET SECURITIES</title>
        <cusip>880591409</cusip>
        <identifiers>
          <isin value="US8805914095"/>
          <ticker value="TVE"/>
        </identifiers>
        <balance>592884.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>14377437.00000000</valUSD>
        <pctVal>0.107833929043</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EP</assetCat>
        <issuerCat>USGA</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>Brighthouse Financial Inc.</name>
        <lei>5493003T8SZSHOGGAW52</lei>
        <title>Brighthouse Financial Inc. DEPOSITARY SHARES EACH REPRESENTING A 1/1,000TH INTEREST IN A SHARE OF THE ISSUERS 4.625% NON-CUMULATIVE PREFERRED STOCK, S</title>
        <cusip>10922N889</cusip>
        <identifiers>
          <isin value="US10922N8891"/>
          <ticker value="BHFAM"/>
        </identifiers>
        <balance>995871.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>10795241.64000000</valUSD>
        <pctVal>0.080966678624</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EP</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>EIDP Inc</name>
        <lei>GLU7INWNWH88J9XBXD45</lei>
        <title>EIDP Inc $4.50 PREFERRED</title>
        <cusip>263534307</cusip>
        <identifiers>
          <isin value="US2635343070"/>
          <ticker value="CTA B"/>
        </identifiers>
        <balance>119004.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>8005399.08000000</valUSD>
        <pctVal>0.060042247888</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EP</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>Gladstone Investment Corporation</name>
        <lei>549300HFFTVIBC98Z362</lei>
        <title>Gladstone Investment Corporation 7.125% NOTES ISSUED DUE ON 2031</title>
        <cusip>376546859</cusip>
        <identifiers>
          <isin value="US3765468596"/>
          <ticker value="GAING"/>
        </identifiers>
        <balance>285375.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>7228548.75000000</valUSD>
        <pctVal>0.054215700127</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EP</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>Strategy Inc.</name>
        <lei>549300WQTWEJUEHXQX21</lei>
        <title>Strategy Inc. 10.00% SERIES A PERPETUAL STRIFE PREFERRED NON CUM STOCK</title>
        <cusip>594972861</cusip>
        <identifiers>
          <isin value="US5949728613"/>
          <ticker value="STRD"/>
        </identifiers>
        <balance>892040.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>67661234.00000000</valUSD>
        <pctVal>0.507474086386</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EP</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <loanByFundCondition isLoanByFund="Y" loanVal="4763380.00000000"/>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>AT&amp;T Inc</name>
        <lei>549300Z40J86GGSTL398</lei>
        <title>AT&amp;T Inc DEPOSITARY SHARES EACH REPRESENTING A 1/1000TH INTEREST IN A SHARE OF 5.000% PERPETUAL PREFERRED STOCK, SERIES A</title>
        <cusip>00206R508</cusip>
        <identifiers>
          <isin value="US00206R5081"/>
          <ticker value="T A"/>
        </identifiers>
        <balance>3414597.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>67062685.08000000</valUSD>
        <pctVal>0.502984838284</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EP</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>MFA Financial Inc.</name>
        <lei>YW72IMH2RRC8Z1TGLG58</lei>
        <title>MFA Financial Inc. 6.50% SERIES C FIXED-TO-FLOATING RATE CUMULATIVE REDEEMABLE PREFERRED STOCK</title>
        <cusip>55272X508</cusip>
        <identifiers>
          <isin value="US55272X5086"/>
          <ticker value="MFA C"/>
        </identifiers>
        <balance>782486.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>16565228.62000000</valUSD>
        <pctVal>0.124242845758</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EP</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>Synchrony Financial</name>
        <lei>549300RS7EWPM9MA6C78</lei>
        <title>Synchrony Financial DEPOSITARY SHARES EACH REPRESENTING A 1/40TH INTEREST IN A SHARE OF 8.250% FIXED RATE RESET NON-CUMULATIVE PERPETUAL PREFERRED STO</title>
        <cusip>87165B400</cusip>
        <identifiers>
          <isin value="US87165B4005"/>
          <ticker value="SYF B"/>
        </identifiers>
        <balance>1422784.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>35825701.12000000</valUSD>
        <pctVal>0.268700611417</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EP</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>Navient Corporation</name>
        <lei>54930067J0ZNOEBRW338</lei>
        <title>Navient Corporation 6% SENIOR NOTES DUE DECEMBER 15, 2043</title>
        <cusip>63938C405</cusip>
        <identifiers>
          <isin value="US63938C4050"/>
          <ticker value="JSM"/>
        </identifiers>
        <balance>853593.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>15373209.93000000</valUSD>
        <pctVal>0.115302444292</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EP</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>Babcock &amp; Wilcox Enterprises Inc.</name>
        <lei>5493006H661OZN2C0T54</lei>
        <title>Babcock &amp; Wilcox Enterprises Inc. 7.75% SERIES A CUMULATIVE PERPETUAL PREFERRED</title>
        <cusip>05614L407</cusip>
        <identifiers>
          <isin value="US05614L4077"/>
          <ticker value="BW A"/>
        </identifiers>
        <balance>545548.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>10479977.08000000</valUSD>
        <pctVal>0.078602125317</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EP</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>Rithm Capital Corp.</name>
        <lei>549300WNTHGEO5LP2G31</lei>
        <title>Rithm Capital Corp. 6.375% SERIES C FIXED-TO-FLOATING RATE CUMULATIVE REDEEMABLE PREFERRED STOCK</title>
        <cusip>64828T508</cusip>
        <identifiers>
          <isin value="US64828T5083"/>
          <ticker value="RITM C"/>
        </identifiers>
        <balance>1131384.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>25637161.44000000</valUSD>
        <pctVal>0.192284330482</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EP</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>Stifel Financial Corporation</name>
        <lei>549300E5F07FE5GHJX84</lei>
        <title>Stifel Financial Corporation 5.20% SENIOR NOTES DUE OCTOBER 2047</title>
        <cusip>860630607</cusip>
        <identifiers>
          <isin value="US8606306079"/>
          <ticker value="SFB"/>
        </identifiers>
        <balance>640138.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>12482691.00000000</valUSD>
        <pctVal>0.093622918714</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EP</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>Renaissancere Holdings Ltd.</name>
        <lei>EK6GB9U3U58PDI411C94</lei>
        <title>Renaissancere Holdings Ltd. DEPOSITARY SHARES, EACH REPRESENTING 1/1000TH INTEREST IN A SHARE OF THE COMPANYS 4.20% SERIES G PREFERENCE SHARES</title>
        <cusip>000000000</cusip>
        <identifiers>
          <isin value="BMG7498P1279"/>
          <ticker value="RNR G"/>
          <other otherDesc="SEDOL" value="BKSDN56"/>
        </identifiers>
        <balance>1422784.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>21498266.24000000</valUSD>
        <pctVal>0.161241709234</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EP</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>BM</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>LXP Industrial Trust</name>
        <lei>549300S4MH2ICXDBFV43</lei>
        <title>LXP Industrial Trust 6.5% SERIES C CUMULATIVE CONVERTIBLE PREFERRED STOCK</title>
        <cusip>529043309</cusip>
        <identifiers>
          <isin value="US5290433094"/>
          <ticker value="LXPPC"/>
        </identifiers>
        <balance>137616.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>6330336.00000000</valUSD>
        <pctVal>0.047478907613</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EP</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>Compass Diversified</name>
        <lei>5299001SM1LBYANJRR58</lei>
        <title>Compass Diversified SERIES B FIXED TO FLOATING RATE CUMULATIVE PREFERRED SHARES</title>
        <cusip>20451Q302</cusip>
        <identifiers>
          <isin value="US20451Q3020"/>
          <ticker value="CODI B"/>
        </identifiers>
        <balance>554341.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>10815192.91000000</valUSD>
        <pctVal>0.081116317522</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EP</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>Bank of America Corp.</name>
        <lei>9DJT3UXIJIZJI4WXO774</lei>
        <title>Bank of America Corp. 7.25% NON-CUMULATIVE PERPETUAL CONVERTIBLE PREFERRED STOCK SERIES L</title>
        <cusip>060505682</cusip>
        <identifiers>
          <isin value="US0605056821"/>
          <ticker value="BACPL"/>
        </identifiers>
        <balance>150752.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>179630053.12000000</valUSD>
        <pctVal>1.347264773425</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EP</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>MFA Financial Inc.</name>
        <lei>YW72IMH2RRC8Z1TGLG58</lei>
        <title>MFA Financial Inc. 7.50% SERIES B CUMULATIVE REDEEMABLE PREFERRED STOCK</title>
        <cusip>55272X409</cusip>
        <identifiers>
          <isin value="US55272X4097"/>
          <ticker value="MFA B"/>
        </identifiers>
        <balance>569030.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>10868473.00000000</valUSD>
        <pctVal>0.081515929876</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EP</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>Prudential Financial, Inc.</name>
        <lei>5PRBRS5FEH7NREC8OR45</lei>
        <title>Prudential Financial, Inc. 4.125% JUNIOR SUBORDINATED NOTES DUE SEPTEMBER 01, 2060</title>
        <cusip>744320888</cusip>
        <identifiers>
          <isin value="US7443208886"/>
          <ticker value="PFH"/>
        </identifiers>
        <balance>1439206.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>23444665.74000000</valUSD>
        <pctVal>0.175840132136</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EP</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>Brookfield BRP Holdings (Canada) Inc.</name>
        <lei>549300NSPD7QJ50GZW26</lei>
        <title>Brookfield BRP Holdings (Canada) Inc. 4.875% PERPETUAL SUBORDINATED NOTES</title>
        <cusip>11259P208</cusip>
        <identifiers>
          <isin value="US11259P2083"/>
          <ticker value="BEPI"/>
        </identifiers>
        <balance>739813.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>11052806.22000000</valUSD>
        <pctVal>0.082898469432</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EP</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>CA</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>W.R. Berkley Corporation</name>
        <lei>SQOAGCLKBDWNVYV1OV80</lei>
        <title>W.R. Berkley Corporation 5.70% SUBORDINATED DEBENTURES DUE 2058</title>
        <cusip>084423706</cusip>
        <identifiers>
          <isin value="US0844237067"/>
          <ticker value="WRB E"/>
        </identifiers>
        <balance>526355.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>11111354.05000000</valUSD>
        <pctVal>0.083337590991</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EP</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>UMB Financial Corp.</name>
        <lei>549300MGEH3N3CUCV828</lei>
        <title>UMB Financial Corp. DEP SHS ECH REP A 1/400TH INT 7.750% FIXED NON-CUMULATIVE PREF STOCK SER B</title>
        <cusip>902788405</cusip>
        <identifiers>
          <isin value="US9027884058"/>
          <ticker value="UMBFO"/>
        </identifiers>
        <balance>853593.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>21775157.43000000</valUSD>
        <pctVal>0.163318453853</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EP</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>Affiliated Managers Group, Inc.</name>
        <lei>2JE75BUE3T1BLCYYGK54</lei>
        <title>Affiliated Managers Group, Inc. FIXED JUNIOR SUBORDINATED NOTES DUE MARCH 30, 2064</title>
        <cusip>008252827</cusip>
        <identifiers>
          <isin value="US0082528276"/>
          <ticker value="MGRE"/>
        </identifiers>
        <balance>1280506.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>28683334.40000000</valUSD>
        <pctVal>0.215131295405</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EP</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>Lincoln National Corp.</name>
        <lei>EFQMQROEDSNBRIP7LE47</lei>
        <title>Lincoln National Corp. DEPOSITARY SHARES EACH REPRESENTING A 1/1,000TH INTEREST IN A SHARE OF THE ISSUERS 9.000% NON-CUMULATIVE PREFERRED STOCK, SERI</title>
        <cusip>534187885</cusip>
        <identifiers>
          <isin value="US5341878859"/>
          <ticker value="LNC D"/>
        </identifiers>
        <balance>1450041.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>37904071.74000000</valUSD>
        <pctVal>0.284288846647</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EP</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>MetLife Inc.</name>
        <lei>C4BXATY60WC6XEOZDX54</lei>
        <title>MetLife Inc. 4.75% DEPOSITARY SHARES EACH REPRESENTING A 1/1,000TH INTEREST IN A SHARE OF FIXED RATE NON-CUMULATIVE PERPETUAL PREFERRED STOCK, SERIES</title>
        <cusip>59156R850</cusip>
        <identifiers>
          <isin value="US59156R8503"/>
          <ticker value="MET F"/>
        </identifiers>
        <balance>2845407.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>52241672.52000000</valUSD>
        <pctVal>0.391823995308</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EP</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>Flagstar Bank National Association</name>
        <lei>SS1TRMSN6BRNMOREEV51</lei>
        <title>Flagstar Bank National Association DEPOSITARY SHARES, EACH REPRESENTING A 1/40TH INTEREST IN A SHARE OF WFIXED-TO-FLOATING RATE SERIES A NONCUMULATIVE</title>
        <cusip>649445202</cusip>
        <identifiers>
          <isin value="US6494452021"/>
          <ticker value="FLG A"/>
        </identifiers>
        <balance>1465457.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>30847869.85000000</valUSD>
        <pctVal>0.231365785748</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EP</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <loanByFundCondition isLoanByFund="Y" loanVal="250495.00000000"/>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>Fifth Third Bancorp</name>
        <lei>THRNG6BD57P9QWTQLG42</lei>
        <title>Fifth Third Bancorp DEPOSITARY SHARES, EACH REPRESENTING A 1/1,000TH OWNERSHIP INTEREST IN A SHARE OF SERIES I PREFERRED STOCK</title>
        <cusip>316773605</cusip>
        <identifiers>
          <isin value="US3167736053"/>
          <ticker value="FITBI"/>
        </identifiers>
        <balance>1280506.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>32230336.02000000</valUSD>
        <pctVal>0.241734585060</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EP</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>CTO Realty Growth Inc New</name>
        <lei>254900ZQ99OFO1WXS678</lei>
        <title>CTO Realty Growth Inc New 6.375% SERIES A CUMULATIVE REDEEMABLE PREFERRED STOCK</title>
        <cusip>22948Q200</cusip>
        <identifiers>
          <isin value="US22948Q2003"/>
          <ticker value="CTO A"/>
        </identifiers>
        <balance>335269.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>6779139.18000000</valUSD>
        <pctVal>0.050845029841</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EP</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>KKR &amp; Co Inc.</name>
        <lei>54930013V5I303TF9571</lei>
        <title>KKR &amp; Co Inc. 6.25% SERIES D MANDATORY CONVERTIBLE PREFERRED STOCK</title>
        <cusip>48251W500</cusip>
        <identifiers>
          <isin value="US48251W5004"/>
          <ticker value="KKRPD"/>
        </identifiers>
        <balance>3681215.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>148058467.30000000</valUSD>
        <pctVal>1.110470959262</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EP</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>Regions Financial Corporation</name>
        <lei>CW05CS5KW59QTC0DG824</lei>
        <title>Regions Financial Corporation DEPOSITARY SHARES (THE DEPOSITARY SHARES) EACH REPRESENTING A 1/40TH INTEREST IN A SHARE OF 4.45% NON-CUMULATIVE PERPETU</title>
        <cusip>7591EP886</cusip>
        <identifiers>
          <isin value="US7591EP8869"/>
          <ticker value="RF E"/>
        </identifiers>
        <balance>1138220.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>18552986.00000000</valUSD>
        <pctVal>0.139151461826</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EP</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>TRITON INTERNATIONAL LTD</name>
        <lei>N/A</lei>
        <title>Triton International Limited 7.375% SERIES C CUMULATIVE REDEEMABLE PERPETUAL PREFERENCE SHARES</title>
        <cusip>000000000</cusip>
        <identifiers>
          <isin value="BMG9078F1499"/>
          <ticker value="TRTN C"/>
          <other otherDesc="SEDOL" value="BK26FC2"/>
        </identifiers>
        <balance>498012.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>11743122.96000000</valUSD>
        <pctVal>0.088075996300</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EP</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>BM</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>Public Storage</name>
        <lei>254900GLQZAD4N7N5Q19</lei>
        <title>Public Storage DEP SHS EACH REPRESENTING 1/1000 OF A 4.700% CUMULATIVE PREFERRED SHARE OF BENEFICIAL INTEREST, SERIES J</title>
        <cusip>74460W594</cusip>
        <identifiers>
          <isin value="US74460W5940"/>
          <ticker value="PSA J"/>
        </identifiers>
        <balance>736204.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>13148603.44000000</valUSD>
        <pctVal>0.098617407982</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EP</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>First Busey Corporation</name>
        <lei>549300X4ZNLYSX7GUY60</lei>
        <title>First Busey Corporation DEPOSITARY SHARES, EACH REPRESENTING A 1/40TH INTEREST IN A SHARE OF 8.25% FIXED-RATE SERIES B NON-CUMULATIVE PERPETUAL PREFER</title>
        <cusip>319383600</cusip>
        <identifiers>
          <isin value="US3193836000"/>
          <ticker value="BUSEP"/>
        </identifiers>
        <balance>611864.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>15474040.56000000</valUSD>
        <pctVal>0.116058696119</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EP</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>Truist Financial Corp.</name>
        <lei>549300DRQQI75D2JP341</lei>
        <title>Truist Financial Corp. DEPOSITARY SHARES, EACH REPRESENTING A 1/1,000TH INTEREST IN A SHARE OF SERIES R NON-CUMULATIVE PERPETUAL PREFERRED STOCK</title>
        <cusip>89832Q695</cusip>
        <identifiers>
          <isin value="US89832Q6952"/>
          <ticker value="TFC R"/>
        </identifiers>
        <balance>2631959.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>47717416.67000000</valUSD>
        <pctVal>0.357891084713</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EP</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>Gladstone Land Corp.</name>
        <lei>54930002B3Q17H38FG74</lei>
        <title>Gladstone Land Corp. SERIES B CUMULATIVE REDEEMABLE PREFERRED STOCK</title>
        <cusip>376549309</cusip>
        <identifiers>
          <isin value="US3765493099"/>
          <ticker value="LANDO"/>
        </identifiers>
        <balance>423507.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>8470140.00000000</valUSD>
        <pctVal>0.063527906660</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EP</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>Truist Financial Corp.</name>
        <lei>549300DRQQI75D2JP341</lei>
        <title>Truist Financial Corp. DEPOSITARY SHARES, EACH REPRESENTING A 1/4000TH INTEREST IN A SHARE OF PERPETUAL PREFERRED STOCK, SERIES I</title>
        <cusip>89832Q810</cusip>
        <identifiers>
          <isin value="US89832Q8107"/>
          <ticker value="TFC I"/>
        </identifiers>
        <balance>506867.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>9427726.20000000</valUSD>
        <pctVal>0.070710013063</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EP</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>Braemar Hotels &amp; Resorts Inc</name>
        <lei>549300JDUUEBN868C776</lei>
        <title>Braemar Hotels &amp; Resorts Inc 5.50% SERIES B CUMULATIVE CONVERTIBLE PREFERRED STOCK</title>
        <cusip>10482B200</cusip>
        <identifiers>
          <isin value="US10482B2007"/>
          <ticker value="BHRPB"/>
        </identifiers>
        <balance>224532.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>3264695.28000000</valUSD>
        <pctVal>0.024485930223</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EP</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>Boeing Co.</name>
        <lei>RVHJWBXLJ1RFUBSY1F30</lei>
        <title>Boeing Co. 6% SER A DEP SHS REPSTG 1/20TH INT MANDATORY CONV PFD</title>
        <cusip>097023204</cusip>
        <identifiers>
          <isin value="US0970232049"/>
          <ticker value="BAPA"/>
        </identifiers>
        <balance>8180679.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>530762453.52000000</valUSD>
        <pctVal>3.980834744877</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EP</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <loanByFundCondition isLoanByFund="Y" loanVal="52265576.24000000"/>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>Sempra</name>
        <lei>PBBKGKLRK5S5C0Y4T545</lei>
        <title>Sempra 5.75% JUNIOR SUBORDINATED NOTES DUE JULY 1, 2079</title>
        <cusip>816851604</cusip>
        <identifiers>
          <isin value="US8168516040"/>
          <ticker value="SREA"/>
        </identifiers>
        <balance>2155316.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>44399509.60000000</valUSD>
        <pctVal>0.333006054401</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EP</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>Brookfield Oaktree Holdings LLC</name>
        <lei>254900T1ODNFOK2L6090</lei>
        <title>Brookfield Oaktree Holdings LLC 6.625% PREFERRED UNITS SERIES A</title>
        <cusip>674001300</cusip>
        <identifiers>
          <isin value="US6740013007"/>
          <ticker value="OAK A"/>
        </identifiers>
        <balance>512181.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>10356299.82000000</valUSD>
        <pctVal>0.077674518757</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EP</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>CHS Inc</name>
        <lei>XEIEFTLYDQ1MZ6TZV015</lei>
        <title>CHS Inc CLASS B RESET RATE CUMULATIVE REDEEMABLE PREFERRED STOCK, SERIES 2</title>
        <cusip>12542R506</cusip>
        <identifiers>
          <isin value="US12542R5063"/>
          <ticker value="CHSCN"/>
        </identifiers>
        <balance>1194999.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>29385025.41000000</valUSD>
        <pctVal>0.220394131791</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EP</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>Array Digital Infrastructure Inc.</name>
        <lei>549300B164AZXESI6E03</lei>
        <title>Array Digital Infrastructure Inc. 6.250% SENIOR NOTES DUE SEPTEMBER 1, 2069</title>
        <cusip>911684702</cusip>
        <identifiers>
          <isin value="US9116847024"/>
          <ticker value="UZD"/>
        </identifiers>
        <balance>301138.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>6046851.04000000</valUSD>
        <pctVal>0.045352708273</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EP</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>Southern Co.</name>
        <lei>549300FC3G3YU2FBZD92</lei>
        <title>Southern Co. SERIES 2017B 5.25% JUNIOR SUBORDINATED NOTES DUE DECEMBER 1, 2077</title>
        <cusip>842587404</cusip>
        <identifiers>
          <isin value="US8425874042"/>
          <ticker value="SOJC"/>
        </identifiers>
        <balance>1280506.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>26583304.56000000</valUSD>
        <pctVal>0.199380611277</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EP</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>Stifel Financial Corporation</name>
        <lei>549300E5F07FE5GHJX84</lei>
        <title>Stifel Financial Corporation DEPOSITARY SHARES, EACH REPRESENTING A 1/1000TH INTEREST IN A SHARE OF 4.50% NON-CUMULATIVE PREFERRED STOCK, SERIES D</title>
        <cusip>860630862</cusip>
        <identifiers>
          <isin value="US8606308620"/>
          <ticker value="SF D"/>
        </identifiers>
        <balance>853593.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>14681799.60000000</valUSD>
        <pctVal>0.110116715260</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EP</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>Compass Diversified</name>
        <lei>5299001SM1LBYANJRR58</lei>
        <title>Compass Diversified 7.250% SERIES A PREFERRED SHARES</title>
        <cusip>20451Q203</cusip>
        <identifiers>
          <isin value="US20451Q2030"/>
          <ticker value="CODI A"/>
        </identifiers>
        <balance>348891.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>6112570.32000000</valUSD>
        <pctVal>0.045845617279</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EP</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>Federal Agricultural Mortgage Corporation</name>
        <lei>549300MS654K78GYF580</lei>
        <title>Federal Agricultural Mortgage Corporation 4.875% NON-CUMULATIVE PERPETUAL SERIES G PREFERRED STOCK</title>
        <cusip>313148835</cusip>
        <identifiers>
          <isin value="US3131488351"/>
          <ticker value="AGM G"/>
        </identifiers>
        <balance>373562.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>6600840.54000000</valUSD>
        <pctVal>0.049507750958</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EP</assetCat>
        <issuerCat>USGSE</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>VSE Corp.</name>
        <lei>549300QWJYQDH4U5XI15</lei>
        <title>VSEC 5.75 02/01/29</title>
        <cusip>918284209</cusip>
        <identifiers>
          <isin value="US9182842099"/>
        </identifiers>
        <balance>266826.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>13421347.80000000</valUSD>
        <pctVal>0.100663050468</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EP</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>KeyCorp</name>
        <lei>RKPI3RZGV1V1FJTH5T61</lei>
        <title>KeyCorp DEP SHS EACH REP A 1/40TH OWNERSHIP INT IN A SHS OF FIXED-RATE PERPETUAL NON-CUMULATIVE PREFERRED STOCK SERIES G</title>
        <cusip>493267868</cusip>
        <identifiers>
          <isin value="US4932678687"/>
          <ticker value="KEY K"/>
        </identifiers>
        <balance>1280506.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>26839405.76000000</valUSD>
        <pctVal>0.201301426415</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EP</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>Summit Hotel Properties, Inc.</name>
        <lei>254900OBQWJK6X20LS71</lei>
        <title>Summit Hotel Properties, Inc. 5.875% SERIES F CUMULATIVE REDEEMABLE PREFERRED STOCK</title>
        <cusip>866082704</cusip>
        <identifiers>
          <isin value="US8660827044"/>
          <ticker value="INN F"/>
        </identifiers>
        <balance>284564.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>4920111.56000000</valUSD>
        <pctVal>0.036901915191</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EP</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>American Homes 4 Rent</name>
        <lei>549300ZJUO7A58PNUW40</lei>
        <title>American Homes 4 Rent 6.25% CUM RED PFD SER H</title>
        <cusip>02665T868</cusip>
        <identifiers>
          <isin value="US02665T8687"/>
          <ticker value="AMH H"/>
        </identifiers>
        <balance>327230.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>7738989.50000000</valUSD>
        <pctVal>0.058044117641</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EP</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>Bank OZK</name>
        <lei>549300VYK2WBD7SST478</lei>
        <title>Bank OZK 4.625% SERIES A NON-CUMULATIVE PERPETUAL PREFERRED STOCK</title>
        <cusip>06417N202</cusip>
        <identifiers>
          <isin value="US06417N2027"/>
          <ticker value="OZKAP"/>
        </identifiers>
        <balance>1019602.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>16068927.52000000</valUSD>
        <pctVal>0.120520478719</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EP</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>ARMOUR Residential REIT, Inc.</name>
        <lei>549300K0WA0EJUX74V72</lei>
        <title>ARMOUR Residential REIT, Inc. 7.00% SERIES C CUMULATIVE REDEEMABLE PREFERRED STOCK</title>
        <cusip>042315606</cusip>
        <identifiers>
          <isin value="US0423156068"/>
          <ticker value="ARR C"/>
        </identifiers>
        <balance>488354.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>9884284.96000000</valUSD>
        <pctVal>0.074134303841</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EP</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>CMS Energy Corporation</name>
        <lei>549300IA9XFBAGNIBW29</lei>
        <title>CMS Energy Corporation 5.875% FIXED RATE JUNIOR SUBORDINATED NOTES DUE ON 3/1/2079</title>
        <cusip>125896845</cusip>
        <identifiers>
          <isin value="US1258968452"/>
          <ticker value="CMSD"/>
        </identifiers>
        <balance>1792686.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>39618360.60000000</valUSD>
        <pctVal>0.297146388870</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EP</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>Morgan Stanley</name>
        <lei>IGJSJL3JD5P30I6NJZ34</lei>
        <title>Morgan Stanley 1/1000TH DEPOSITARY SHARES OF FLOATING RATE NON-CUMULATIVE PREFERRED STOCK, SERIES A</title>
        <cusip>61747S504</cusip>
        <identifiers>
          <isin value="US61747S5047"/>
          <ticker value="MS A"/>
        </identifiers>
        <balance>3130034.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>59251543.62000000</valUSD>
        <pctVal>0.444399565127</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EP</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>Vornado Realty Trust</name>
        <lei>N/A</lei>
        <title>Vornado Realty Trust 4.45% SERIES O CUMULATIVE REDEEMABLE PREFERRED SHARES OF BENEFICIAL INTEREST</title>
        <cusip>929042794</cusip>
        <identifiers>
          <isin value="US9290427940"/>
          <ticker value="VNO O"/>
        </identifiers>
        <balance>853578.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>12172022.28000000</valUSD>
        <pctVal>0.091292835215</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EP</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>Brookfield Oaktree Holdings LLC</name>
        <lei>254900T1ODNFOK2L6090</lei>
        <title>Brookfield Oaktree Holdings LLC 6.550% SERIES B PREFERRED UNITS</title>
        <cusip>674001409</cusip>
        <identifiers>
          <isin value="US6740014096"/>
          <ticker value="OAK B"/>
        </identifiers>
        <balance>668635.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>13539858.75000000</valUSD>
        <pctVal>0.101551908570</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EP</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>Chimera Investment Corporation</name>
        <lei>2JBBQFJOL123LOUBE657</lei>
        <title>Chimera Investment Corporation 8% SERIES D FIXED-TO-FLOATING RATE CUMULATIVE REDEEMABLE PREFERRED STOCK</title>
        <cusip>16934Q604</cusip>
        <identifiers>
          <isin value="US16934Q6044"/>
          <ticker value="CIM D"/>
        </identifiers>
        <balance>569022.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>12666429.72000000</valUSD>
        <pctVal>0.095000999389</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EP</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>PennyMac Mortgage Investment Trust</name>
        <lei>549300BSSOQO1ZWDUJ97</lei>
        <title>PennyMac Mortgage Investment Trust 8.125% SERIES A CUMULATIVE REDEEMABLE PREFERRED SHARES OF BENEFICIAL INTEREST</title>
        <cusip>70931T301</cusip>
        <identifiers>
          <isin value="US70931T3014"/>
          <ticker value="PMT A"/>
        </identifiers>
        <balance>327230.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>7369219.60000000</valUSD>
        <pctVal>0.055270762337</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EP</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>Atlantic Union Bankshares Corp</name>
        <lei>N/A</lei>
        <title>Atlantic Union Bankshares Corp DEPOSITARY SHARES EACH REPRESENTING A 1/400TH INTEREST IN A SHARE OF 6.875% PERPETUAL NON-CUMULATIVE PREFERRED SHARES S</title>
        <cusip>04911A206</cusip>
        <identifiers>
          <isin value="US04911A2069"/>
          <ticker value="AUB A"/>
        </identifiers>
        <balance>492377.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>11984456.18000000</valUSD>
        <pctVal>0.089886048350</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EP</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>Federal Agricultural Mortgage Corporation</name>
        <lei>549300MS654K78GYF580</lei>
        <title>Federal Agricultural Mortgage Corporation 5.250% NON-CUMULATIVE PREFERRED STOCK SERIES F</title>
        <cusip>313148843</cusip>
        <identifiers>
          <isin value="US3131488435"/>
          <ticker value="AGM F"/>
        </identifiers>
        <balance>358317.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>6800856.66000000</valUSD>
        <pctVal>0.051007915702</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EP</assetCat>
        <issuerCat>USGSE</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>State Street Corp.</name>
        <lei>549300ZFEEJ2IP5VME73</lei>
        <title>State Street Corp. DEPOSITARY SHARES, EACH REPRESENTING A 1/4,000TH OWNERSHIP INTEREST IN A SHARE OF FIXED-TO-FLOATING RATE NON-CUMULATIVE PERPETUAL P</title>
        <cusip>857477855</cusip>
        <identifiers>
          <isin value="US8574778556"/>
          <ticker value="STT G"/>
        </identifiers>
        <balance>1422784.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>30760590.08000000</valUSD>
        <pctVal>0.230711168341</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EP</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <loanByFundCondition isLoanByFund="Y" loanVal="51888.00000000"/>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>BRIGHTSPRING HEALTH SERVICES INC</name>
        <lei>N/A</lei>
        <title>BTSG 6.75 02/01/27</title>
        <cusip>10950A205</cusip>
        <identifiers>
          <isin value="US10950A2050"/>
          <ticker value="BTSGU"/>
          <other otherDesc="SEDOL" value="BPDYYD4"/>
        </identifiers>
        <balance>569030.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>80825021.20000000</valUSD>
        <pctVal>0.606205375897</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EP</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>Agree Realty Corp</name>
        <lei>98450090H010B37OEB68</lei>
        <title>Agree Realty Corp DEPOSITARY SHARES EACH REPRESENTING 1/1000TH OF A SHARE OF 4.250% SERIES A CUMULATIVE REDEEMABLE PREFERRED STOCK</title>
        <cusip>008492209</cusip>
        <identifiers>
          <isin value="US0084922097"/>
          <ticker value="ADC A"/>
        </identifiers>
        <balance>498013.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>8366618.40000000</valUSD>
        <pctVal>0.062751471968</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EP</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>JPMorgan Chase &amp; Co.</name>
        <lei>8I5DZWZKVSZI1NUHU748</lei>
        <title>JPMorgan Chase &amp; Co. DEPOSITARY SHARES, EACH REPRESENTING A 1/400TH INTEREST IN A SHARE OF JPMORGAN CHASE &amp; CO. 4.55% NON-CUMULATIVE PREFERRED STOCK,</title>
        <cusip>48128B580</cusip>
        <identifiers>
          <isin value="US48128B5802"/>
          <ticker value="JPM K"/>
        </identifiers>
        <balance>4268183.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>80241840.40000000</valUSD>
        <pctVal>0.601831392063</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EP</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>Entergy Arkansas LLC</name>
        <lei>549300A0I5ONUIFMLP35</lei>
        <title>Entergy Arkansas LLC FIRST MORTGAGE BONDS, 4.875% SERIES DUE SEPTEMBER 1, 2066</title>
        <cusip>29364D100</cusip>
        <identifiers>
          <isin value="US29364D1000"/>
          <ticker value="EAI"/>
        </identifiers>
        <balance>1166654.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>22959750.72000000</valUSD>
        <pctVal>0.172203163192</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EP</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>Ford Motor Company</name>
        <lei>20S05OYHG0MQM4VUIC57</lei>
        <title>Ford Motor Company 6.000% NOTES DUE DECEMBER 1, 2059</title>
        <cusip>345370837</cusip>
        <identifiers>
          <isin value="US3453708378"/>
          <ticker value="F C"/>
        </identifiers>
        <balance>2276378.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>44002386.74000000</valUSD>
        <pctVal>0.330027545901</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EP</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>Federal Agricultural Mortgage Corporation</name>
        <lei>549300MS654K78GYF580</lei>
        <title>Federal Agricultural Mortgage Corporation 6.500% NON-CUMULATIVE PREFERRED STOCK, SERIES H</title>
        <cusip>313148827</cusip>
        <identifiers>
          <isin value="US3131488278"/>
          <ticker value="AGM H"/>
        </identifiers>
        <balance>284556.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>6940320.84000000</valUSD>
        <pctVal>0.052053927622</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EP</assetCat>
        <issuerCat>USGSE</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>The Hartford Insurance Group Inc.</name>
        <lei>IU7C3FTM7Y3BQM112U94</lei>
        <title>The Hartford Insurance Group Inc. DEP SHS REP 1/1000TH INT SHS OF 6% NON CUM PFD STK SER G</title>
        <cusip>416518603</cusip>
        <identifiers>
          <isin value="US4165186036"/>
          <ticker value="HIG G"/>
        </identifiers>
        <balance>981777.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>24161531.97000000</valUSD>
        <pctVal>0.181216785998</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EP</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>Affiliated Managers Group, Inc.</name>
        <lei>2JE75BUE3T1BLCYYGK54</lei>
        <title>Affiliated Managers Group, Inc. 5.875% JUNIOR SUBORDINATED NOTES DUE MARCH 30, 2059</title>
        <cusip>008252850</cusip>
        <identifiers>
          <isin value="US0082528508"/>
          <ticker value="MGR"/>
        </identifiers>
        <balance>853593.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>16730422.80000000</valUSD>
        <pctVal>0.125481838319</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EP</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>Diversified Healthcare Trust</name>
        <lei>N/A</lei>
        <title>Diversified Healthcare Trust 5.625% SENIOR NOTES DUE 08/01/2042</title>
        <cusip>25525P206</cusip>
        <identifiers>
          <isin value="US25525P2065"/>
          <ticker value="DHCNI"/>
        </identifiers>
        <balance>995872.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>16113208.96000000</valUSD>
        <pctVal>0.120852599225</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EP</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>NextEra Energy Inc</name>
        <lei>254900RHL9MEUS5NKX63</lei>
        <title>NEE 7.299 06/01/27</title>
        <cusip>65339F663</cusip>
        <identifiers>
          <isin value="US65339F6631"/>
          <ticker value="NEEPS"/>
        </identifiers>
        <balance>2845407.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>159285883.86000000</valUSD>
        <pctVal>1.194679044519</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EP</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>Annaly Capital Management, Inc.</name>
        <lei>2DTL0G3FPRYUT58TI025</lei>
        <title>Annaly Capital Management, Inc. 6.95% SERIES F FIXED-TO-FLOATING RATE CUMULATIVE REDEEMABLE PREFERRED STOCK</title>
        <cusip>035710870</cusip>
        <identifiers>
          <isin value="US0357108705"/>
          <ticker value="NLY F"/>
        </identifiers>
        <balance>2048816.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>51507234.24000000</valUSD>
        <pctVal>0.386315547219</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EP</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>Voya Financial Inc</name>
        <lei>549300T065Z4KJ686G75</lei>
        <title>Voya Financial Inc DEP SHS REP 1/40TH NON CUM</title>
        <cusip>929089209</cusip>
        <identifiers>
          <isin value="US9290892093"/>
          <ticker value="VOYA B"/>
        </identifiers>
        <balance>853593.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>19589959.35000000</valUSD>
        <pctVal>0.146928989256</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EP</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>Arch Capital Group Ltd.</name>
        <lei>549300AYR4P8AFKDCE43</lei>
        <title>Arch Capital Group Ltd. DEPOSITARY SHARES EACH REPRESENTING A 1/1,000TH INTEREST IN A SHARE OF THE ISSUERS 4.550% NON-CUMULATIVE PREFERRED SHARES, SER</title>
        <cusip>03939A404</cusip>
        <identifiers>
          <isin value="US03939A4040"/>
          <ticker value="ACGLN"/>
        </identifiers>
        <balance>1422784.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>23376341.12000000</valUSD>
        <pctVal>0.175327682509</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EP</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>BM</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>GLOBAL SHIP LEASE INC</name>
        <lei>254900GLZ0J5N8UZM071</lei>
        <title>Global Ship Lease Inc. DEPOSITARY SHARES EACH REPRESENTING 1/100 TH OF ONE SHARE OF 8.75% SERIES B CUMULATIVE REDEEMABLE PERPETUAL PREFERRED SHARES</title>
        <cusip>000000000</cusip>
        <identifiers>
          <isin value="MHY271831213"/>
          <ticker value="GSL B"/>
          <other otherDesc="SEDOL" value="BQ1VYX4"/>
        </identifiers>
        <balance>310097.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>8217570.50000000</valUSD>
        <pctVal>0.061633580046</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EP</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>MH</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>AXIS Capital Holdings Limited</name>
        <lei>635400VD2NQBYAHMEM55</lei>
        <title>AXIS Capital Holdings Limited DEPOSITARY SHARES EACH REPRESENTING 1/100 TH INTEREST IN A 5.50% SERIES E PREFERRED SHARE</title>
        <cusip>05461T305</cusip>
        <identifiers>
          <isin value="US05461T3059"/>
          <ticker value="AXS E"/>
        </identifiers>
        <balance>1595031.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>30943601.40000000</valUSD>
        <pctVal>0.232083793357</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EP</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>BM</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>Two Harbors Investment Corp.</name>
        <lei>549300ZUIBT6KH4HU823</lei>
        <title>Two Harbors Investment Corp. 8.125% SERIES A FIXED-TO-FLOATING RATE CUMULATIVE REDEEMABLE PREFERRED STOCK</title>
        <cusip>90187B200</cusip>
        <identifiers>
          <isin value="US90187B2007"/>
          <ticker value="TWO A"/>
        </identifiers>
        <balance>372164.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>9218502.28000000</valUSD>
        <pctVal>0.069140787801</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EP</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>TELEPHONE &amp; DATA SYSTEMS INC</name>
        <lei>5299003YZW5BE2NNLO37</lei>
        <title>Telephone and Data Systems Inc. DEPOSITARY SHARES EACH REPRESENTING A 1/1,000 INTEREST IN A SHARE OF TELEPHONE AND DATA SYSTEMS, INC.S 6.625% SERIES U</title>
        <cusip>879433787</cusip>
        <identifiers>
          <isin value="US8794337878"/>
          <ticker value="TDS U"/>
        </identifiers>
        <balance>1194999.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>23911929.99000000</valUSD>
        <pctVal>0.179344716435</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EP</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>Liberty Broadband Corporation</name>
        <lei>549300MIX43II8JLN536</lei>
        <title>Liberty Broadband Corporation SERIES A CUMULATIVE REDEEMABLE PREFERRED STOCK</title>
        <cusip>530307503</cusip>
        <identifiers>
          <isin value="US5303075031"/>
          <ticker value="LBRDP"/>
        </identifiers>
        <balance>511056.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>11907604.80000000</valUSD>
        <pctVal>0.089309646154</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EP</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>PINNACLE FINANCIAL PARTNERS INC</name>
        <lei>N/A</lei>
        <title>Pinnacle Financial Partners Inc. FIXED RATE RESET NON-CUM PERP PFD SER B</title>
        <cusip>72348N307</cusip>
        <identifiers>
          <isin value="US72348N3070"/>
          <ticker value="PNFP B"/>
        </identifiers>
        <balance>995871.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>25464421.47000000</valUSD>
        <pctVal>0.190988742842</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EP</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>FTAI Aviation Ltd</name>
        <lei>N/A</lei>
        <title>FTAI Aviation Ltd 8.25% FIXED-RATE RESET SERIES C CUMULATIVE PERPETUAL REDEEMABLE PREFERRED SHARES</title>
        <cusip>000000000</cusip>
        <identifiers>
          <isin value="KYG3730V1398"/>
          <ticker value="FTAIN"/>
          <other otherDesc="SEDOL" value="BM8J6R1"/>
        </identifiers>
        <balance>298724.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>7521870.32000000</valUSD>
        <pctVal>0.056415676198</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EP</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>KY</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>SCE Trust VIII</name>
        <lei>N/A</lei>
        <title>SCE Trust VIII 6.95% TRUST PREFERENCE SECURITIES SERIES N</title>
        <cusip>80620A208</cusip>
        <identifiers>
          <isin value="US80620A2087"/>
          <ticker value="SCE N"/>
        </identifiers>
        <balance>995871.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>23582225.28000000</valUSD>
        <pctVal>0.176871858839</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EP</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>Bank of America Corp.</name>
        <lei>9DJT3UXIJIZJI4WXO774</lei>
        <title>Bank of America Corp. DEP SHS EACH REP A 1/1,000TH INT IN A SHARE OF BANK OF AMERICA CORP 5.375% NON-CUMULATIVE PREFERRED STOCK, SERIES KK</title>
        <cusip>06053U601</cusip>
        <identifiers>
          <isin value="US06053U6010"/>
          <ticker value="BAC M"/>
        </identifiers>
        <balance>2683318.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>58093834.70000000</valUSD>
        <pctVal>0.435716494456</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EP</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <loanByFundCondition isLoanByFund="Y" loanVal="4330.00000000"/>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>Southern Co.</name>
        <lei>549300FC3G3YU2FBZD92</lei>
        <title>Southern Co. CALLABLE JUNIOR SUBORDINATED NOTES DUE 10/15/2060</title>
        <cusip>842587883</cusip>
        <identifiers>
          <isin value="US8425878837"/>
          <ticker value="SOJE"/>
        </identifiers>
        <balance>2134091.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>36172842.45000000</valUSD>
        <pctVal>0.271304247485</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EP</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>Associated Banc-Corp</name>
        <lei>549300N3CIN473IW5094</lei>
        <title>Associated Banc-Corp DEPOSITARY SHARES, EACH REPRESENTING A 1/40TH INTEREST IN A SHARE OF ASSOCIATED BANC-CORP 5.625% NON-CUMULATIVE PERPETUAL PREFERR</title>
        <cusip>045487402</cusip>
        <identifiers>
          <isin value="US0454874027"/>
          <ticker value="ASB F"/>
        </identifiers>
        <balance>301094.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>5943595.56000000</valUSD>
        <pctVal>0.044578269540</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EP</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>Merchants Bancorp. (Indiana)</name>
        <lei>54930008Y0GPVLF81889</lei>
        <title>Merchants Bancorp. (Indiana) DEPOSITARY SHARES EACH REPRESENTING A 1/40TH INTEREST IN A SHARE OF THE COMPANYS 8.25% FIXED-RATE RESET SERIES D NON-CUM</title>
        <cusip>58844R884</cusip>
        <identifiers>
          <isin value="US58844R8842"/>
          <ticker value="MBINM"/>
        </identifiers>
        <balance>419886.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>10224224.10000000</valUSD>
        <pctVal>0.076683921906</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EP</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>U.S. Bancorp.</name>
        <lei>N1GZ7BBF3NP8GI976H15</lei>
        <title>U.S. Bancorp. DEP SHS EA REP A 1/1000 TH INT IN SHS SER K NON CUM PER PFD STK</title>
        <cusip>902973759</cusip>
        <identifiers>
          <isin value="US9029737593"/>
          <ticker value="USB P"/>
        </identifiers>
        <balance>1636080.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>35159359.20000000</valUSD>
        <pctVal>0.263702900954</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EP</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>Public Storage</name>
        <lei>254900GLQZAD4N7N5Q19</lei>
        <title>Public Storage DEPOSITARY SHARES EACH REPRESENTING 1/1000 OF A 3.900% CUMULATIVE PREFERRED SHARE OF BENEFICIAL INTEREST, SERIES O</title>
        <cusip>74460W487</cusip>
        <identifiers>
          <isin value="US74460W4877"/>
          <ticker value="PSA O"/>
        </identifiers>
        <balance>483675.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>7269635.25000000</valUSD>
        <pctVal>0.054523857883</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EP</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>T-Mobile USA, Inc.</name>
        <lei>549300V2JRLO5DIFGE82</lei>
        <title>T-Mobile USA, Inc. 6.250% SENIOR NOTES DUE SEPTEMBER 1, 2069</title>
        <cusip>87264A105</cusip>
        <identifiers>
          <isin value="US87264A1051"/>
          <ticker value="TMUSL"/>
        </identifiers>
        <balance>1119665.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>27073499.70000000</valUSD>
        <pctVal>0.203057182278</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EP</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>NextEra Energy Capital Holdings Inc</name>
        <lei>UMI46YPGBLUE4VGNNT48</lei>
        <title>NextEra Energy Capital Holdings Inc SERIES U JUNIOR SUBORDINATED DEBENTURES DUE JUNE 1, 2085</title>
        <cusip>65339K837</cusip>
        <identifiers>
          <isin value="US65339K8374"/>
          <ticker value="NEE U"/>
        </identifiers>
        <balance>2490900.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>61799229.00000000</valUSD>
        <pctVal>0.463507763931</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EP</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>U.S. Bancorp.</name>
        <lei>N1GZ7BBF3NP8GI976H15</lei>
        <title>U.S. Bancorp. DEPOSITARY SHARES EACH REPRESENTING A 1/1,000TH INTEREST IN A SHARE OF SERIES L NON-CUMULATIVE PERPETUAL PREFERRED STOCK</title>
        <cusip>902973734</cusip>
        <identifiers>
          <isin value="US9029737346"/>
          <ticker value="USB Q"/>
        </identifiers>
        <balance>1422784.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>21014519.68000000</valUSD>
        <pctVal>0.157613503996</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EP</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>Citigroup Inc.</name>
        <lei>6SHGI4ZSSLCXXQSBB395</lei>
        <title>Citigroup Inc. DEPOSITARY SHARES EACH REPRESENTING A 1/1,000TH INTEREST IN A SHARE OF 6.25% NONCUMULATIVE PREFERRED STOCK, SERIES II</title>
        <cusip>172967242</cusip>
        <identifiers>
          <isin value="US1729672428"/>
          <ticker value="C"/>
        </identifiers>
        <balance>2269147.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>55934473.55000000</valUSD>
        <pctVal>0.419520812498</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EP</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>Wintrust Financial Corporation</name>
        <lei>Q774KI4AW80FHFW33O61</lei>
        <title>Wintrust Financial Corporation DEPOSITARY SHARES EACH REPRESENTING A 1/1,000TH INTEREST IN A SHARE OF 7.875% FIXED-RATE RESET NON-CUMULATIVE PERPETUAL</title>
        <cusip>97650W702</cusip>
        <identifiers>
          <isin value="US97650W7020"/>
          <ticker value="WTFCN"/>
        </identifiers>
        <balance>1211200.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>31212624.00000000</valUSD>
        <pctVal>0.234101521827</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EP</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>American Financial Group, Inc.</name>
        <lei>549300AFOM7IVKIU1G39</lei>
        <title>American Financial Group, Inc. 5.125% SUBORDINATED DEBENTURES DUE DECEMBER 15,2059</title>
        <cusip>025932880</cusip>
        <identifiers>
          <isin value="US0259328807"/>
          <ticker value="AFGC"/>
        </identifiers>
        <balance>569022.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>10282227.54000000</valUSD>
        <pctVal>0.077118960421</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EP</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>DigitalBridge Group Inc</name>
        <lei>549300XG87L902AGBO89</lei>
        <title>DigitalBridge Group Inc CUM RED PERP PFD SHS SER J</title>
        <cusip>25401T306</cusip>
        <identifiers>
          <isin value="US25401T3068"/>
          <ticker value="DBRG J"/>
        </identifiers>
        <balance>825160.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>13598636.80000000</valUSD>
        <pctVal>0.101992756830</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EP</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>Brookfield BRP Holdings (Canada) Inc.</name>
        <lei>549300NSPD7QJ50GZW26</lei>
        <title>Brookfield BRP Holdings (Canada) Inc. 4.625% PERPETUAL SUBORDINATED NOTES</title>
        <cusip>11259P109</cusip>
        <identifiers>
          <isin value="US11259P1093"/>
          <ticker value="BEPH"/>
        </identifiers>
        <balance>993869.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>14421039.19000000</valUSD>
        <pctVal>0.108160955026</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EP</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>CA</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>Ellington Financial Inc</name>
        <lei>60GS1D1R1YY5G1W7IT74</lei>
        <title>Ellington Financial Inc 8.625% SERIES C FIXED-RATE RESET CUMULATIVE REDEEMABLE PREFERRED STOCK</title>
        <cusip>28852N406</cusip>
        <identifiers>
          <isin value="US28852N4060"/>
          <ticker value="EFC C"/>
        </identifiers>
        <balance>294816.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>7222992.00000000</valUSD>
        <pctVal>0.054174023284</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EP</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>Huntington Bancshares Incorporated</name>
        <lei>549300XTVCVV9I7B5T19</lei>
        <title>Huntington Bancshares Incorporated DEPOSITARY SHARES (EACH REPRESENTING A 1/1000TH INTEREST IN A SHARE OF 5.70% SERIES I NON-CUMULATIVE, PERPETUAL PRE</title>
        <cusip>446150781</cusip>
        <identifiers>
          <isin value="US4461507810"/>
          <ticker value="HBANM"/>
        </identifiers>
        <balance>530898.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>11467396.80000000</valUSD>
        <pctVal>0.086007989660</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EP</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>Old National Bancorp</name>
        <lei>549300MMK90CL5KMVX16</lei>
        <title>Old National Bancorp DEPOSITARY SHARES EACH REPRESENTING A 1/40TH INTEREST IN A SHARE OF FIXED RATE NON-CUMULATIVE PERPETUAL PREFERRED STOCK, SERIES C</title>
        <cusip>68003D303</cusip>
        <identifiers>
          <isin value="US68003D3035"/>
          <ticker value="ONBPO"/>
        </identifiers>
        <balance>359965.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>8829941.45000000</valUSD>
        <pctVal>0.066226496403</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EP</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>Ah Realty Trust Inc.</name>
        <lei>549300WQRSIV6XZT9313</lei>
        <title>Ah Realty Trust Inc. 6.75% CUM RED PERP PRF STK</title>
        <cusip>04208T207</cusip>
        <identifiers>
          <isin value="US04208T2078"/>
          <ticker value="AHH A"/>
        </identifiers>
        <balance>486868.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>10594247.68000000</valUSD>
        <pctVal>0.079459179866</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EP</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>BANK OF HAWAII CORP</name>
        <lei>5493006Q8BQ8AD8M2U33</lei>
        <title>Bank of Hawaii DEPOSITARY SHARES, EACH REPRESENTING A 1/40TH INTEREST IN A SHARE OF 4.375% NON-CUMULATIVE PERPETUAL PREFERRED STOCK, SERIES A</title>
        <cusip>062545207</cusip>
        <identifiers>
          <isin value="US0625452075"/>
          <ticker value="BOH A"/>
        </identifiers>
        <balance>522006.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>8164173.84000000</valUSD>
        <pctVal>0.061233093392</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EP</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>PG&amp;E Corporation</name>
        <lei>8YQ2GSDWYZXO2EDN3511</lei>
        <title>PG&amp;E Corporation 6% SER A MAND CONV PFD STK</title>
        <cusip>69331C306</cusip>
        <identifiers>
          <isin value="US69331C3060"/>
          <ticker value="PCGPX"/>
        </identifiers>
        <balance>2290545.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>98470529.55000000</valUSD>
        <pctVal>0.738550556429</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EP</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>Adamas Trust Inc.</name>
        <lei>549300JFGR0M7ULHWG48</lei>
        <title>Adamas Trust Inc. 9.875% SENIOR NOTES OCTOBER 1, 2030</title>
        <cusip>649604816</cusip>
        <identifiers>
          <isin value="US6496048165"/>
          <ticker value="ADAMH"/>
        </identifiers>
        <balance>339736.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>8442439.60000000</valUSD>
        <pctVal>0.063320147588</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EP</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>National Rural Utilities Cooperative Finance Corp.</name>
        <lei>4NYF266XZC35SCTGX023</lei>
        <title>National Rural Utilities Cooperative Finance Corp. SUBORDINATED DEFERRABLE INTEREST NOTES DUE 05/15/2064</title>
        <cusip>637432105</cusip>
        <identifiers>
          <isin value="US6374321056"/>
          <ticker value="NRUC"/>
        </identifiers>
        <balance>711307.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>16324495.65000000</valUSD>
        <pctVal>0.122437295715</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EP</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <loanByFundCondition isLoanByFund="Y" loanVal="107865.00000000"/>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>Public Storage</name>
        <lei>254900GLQZAD4N7N5Q19</lei>
        <title>Public Storage DEPOSITARY SHARES EACH REPRESENTING 1/1000 OF A 4.000% CUMULATIVE PREFERRED SHARE OF BENEFICIAL INTEREST, SERIES P</title>
        <cusip>74460W461</cusip>
        <identifiers>
          <isin value="US74460W4612"/>
          <ticker value="PSA P"/>
        </identifiers>
        <balance>1717907.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>26163723.61000000</valUSD>
        <pctVal>0.196233662180</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EP</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>NextEra Energy Inc</name>
        <lei>254900RHL9MEUS5NKX63</lei>
        <title>NEE 7.234 11/01/27</title>
        <cusip>65339F119</cusip>
        <identifiers>
          <isin value="US65339F1194"/>
          <ticker value="NEEPT"/>
        </identifiers>
        <balance>2134091.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>112125141.14000000</valUSD>
        <pctVal>0.840963136454</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EP</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>Brighthouse Financial Inc.</name>
        <lei>5493003T8SZSHOGGAW52</lei>
        <title>Brighthouse Financial Inc. DEPOSITARY SHARES EACH REPRESENTING A 1/1,000TH INTEREST IN A SHARE OF 6.600% NON-CUMULATIVE PREFERRED STOCK,SERIES A</title>
        <cusip>10922N301</cusip>
        <identifiers>
          <isin value="US10922N3017"/>
          <ticker value="BHFAP"/>
        </identifiers>
        <balance>1209312.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>17849445.12000000</valUSD>
        <pctVal>0.133874751010</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EP</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>Qwest Corporation</name>
        <lei>549300R2L4N683OO1509</lei>
        <title>Qwest Corporation 6.75% NOTES DUE 2057</title>
        <cusip>74913G873</cusip>
        <identifiers>
          <isin value="US74913G8731"/>
          <ticker value="CTDD"/>
        </identifiers>
        <balance>1878033.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>35682627.00000000</valUSD>
        <pctVal>0.267627524155</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EP</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>Annaly Capital Management, Inc.</name>
        <lei>2DTL0G3FPRYUT58TI025</lei>
        <title>Annaly Capital Management, Inc. 6.750% SERIES I FIXED-TO-FLOATING RATE CUMULATIVE REDEEMABLE PREFERRED STOCK</title>
        <cusip>035710847</cusip>
        <identifiers>
          <isin value="US0357108473"/>
          <ticker value="NLY I"/>
        </identifiers>
        <balance>1259070.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>31199754.60000000</valUSD>
        <pctVal>0.234004998506</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EP</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>Arbor Realty Trust, Inc.</name>
        <lei>549300ASFUWYQO0RW077</lei>
        <title>Arbor Realty Trust, Inc. 6.25% SERIES F FIXED-TO-FLOATING RATE CUMULATIVE REDEEMABLE PREFERRED STOCK</title>
        <cusip>038923850</cusip>
        <identifiers>
          <isin value="US0389238504"/>
          <ticker value="ABR F"/>
        </identifiers>
        <balance>822318.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>17918309.22000000</valUSD>
        <pctVal>0.134391246855</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EP</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>Rithm Capital Corp.</name>
        <lei>549300WNTHGEO5LP2G31</lei>
        <title>Rithm Capital Corp. 7.125% SER B FIXED TO FLOATING RATE CUMULATIVE REDEEMABLE PREFERRED STOCK</title>
        <cusip>64828T409</cusip>
        <identifiers>
          <isin value="US64828T4094"/>
          <ticker value="RITM B"/>
        </identifiers>
        <balance>801034.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>19417064.16000000</valUSD>
        <pctVal>0.145632237433</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EP</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>Apollo Global Management Inc</name>
        <lei>254900LMFT1CY9IYB476</lei>
        <title>Apollo Global Management Inc FIXED-RATE RESETTABLE JUNIOR SUBORDINATED NOTES DUE 9/15/2053</title>
        <cusip>03769M205</cusip>
        <identifiers>
          <isin value="US03769M2052"/>
          <ticker value="APOS"/>
        </identifiers>
        <balance>1707187.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>43413765.41000000</valUSD>
        <pctVal>0.325612756900</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EP</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>Brookfield Property Preferred Lp</name>
        <lei>254900N07TR905Y0G344</lei>
        <title>Brookfield Property Preferred Lp CLASS A CUMULATIVE REDEEMABLE PREFERRED UNITS, SERIES 1</title>
        <cusip>000000000</cusip>
        <identifiers>
          <isin value="BMG1624R1079"/>
          <ticker value="BPYPM"/>
          <other otherDesc="SEDOL" value="BMJ0KL5"/>
        </identifiers>
        <balance>1909562.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>33226378.80000000</valUSD>
        <pctVal>0.249205124243</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EP</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>BM</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>KKR Real Estate Finance Trust Inc.</name>
        <lei>549300K23AYZDZ2REL62</lei>
        <title>KKR Real Estate Finance Trust Inc. 6.50% SERIES A CUMULATIVE REDEEMABLE PREFERRED STOCK</title>
        <cusip>48251K209</cusip>
        <identifiers>
          <isin value="US48251K2096"/>
          <ticker value="KREF A"/>
        </identifiers>
        <balance>932591.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>16115172.48000000</valUSD>
        <pctVal>0.120867326056</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EP</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>Brighthouse Financial Inc.</name>
        <lei>5493003T8SZSHOGGAW52</lei>
        <title>Brighthouse Financial Inc. DEPOSITARY SHARES EACH REPRESENTING A 1/1,000TH INTEREST IN A SHARE OF 6.750% NON-CUMULATIVE PREFERRED STOCK, SERIES B</title>
        <cusip>10922N509</cusip>
        <identifiers>
          <isin value="US10922N5095"/>
          <ticker value="BHFAO"/>
        </identifiers>
        <balance>1145261.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>17820261.16000000</valUSD>
        <pctVal>0.133655864912</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EP</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>EPR Properties</name>
        <lei>549300YSSXFHMPOWZ492</lei>
        <title>EPR Properties 5.75% SERIES C CUMULATIVE CONVERTIBLE PREFERRED SHARES</title>
        <cusip>26884U208</cusip>
        <identifiers>
          <isin value="US26884U2087"/>
          <ticker value="EPRPC"/>
        </identifiers>
        <balance>383513.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>8671228.93000000</valUSD>
        <pctVal>0.065036117714</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EP</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>Aspen Insurance Holdings Ltd.</name>
        <lei>549300YX6HECG9XQCQ75</lei>
        <title>Aspen Insurance Holdings Ltd. 5.625 DEP REP 1/1000TH PFD</title>
        <cusip>000000000</cusip>
        <identifiers>
          <isin value="BMG053842040"/>
          <ticker value="AHL E"/>
          <other otherDesc="SEDOL" value="BKDJPD1"/>
        </identifiers>
        <balance>823403.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>17151484.49000000</valUSD>
        <pctVal>0.128639893291</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EP</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>BM</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>F&amp;G ANNUITIES &amp; LIFE INC</name>
        <lei>N/A</lei>
        <title>F&amp;G Annuities &amp; Life Inc. CALLABLE FIXED FOR LIFE JUNIOR SUBORDINATED NOTES DUE JANUARY 15, 2065</title>
        <cusip>30190A609</cusip>
        <identifiers>
          <isin value="US30190A6091"/>
          <ticker value="FGSN"/>
        </identifiers>
        <balance>1067034.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>21447383.40000000</valUSD>
        <pctVal>0.160860076780</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EP</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>Bank of Hawaii Corp.</name>
        <lei>5493006Q8BQ8AD8M2U33</lei>
        <title>Bank of Hawaii Corp. DEPOSITARY SHARES, EACH REPRESENTING A 1/40TH INTEREST IN A SHARE OF 8.000% NON-CUMULATIVE PERPETUAL PREFERRED STOCK, SERIES B</title>
        <cusip>062540307</cusip>
        <identifiers>
          <isin value="US0625403078"/>
          <ticker value="BOH B"/>
        </identifiers>
        <balance>478488.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>12560310.00000000</valUSD>
        <pctVal>0.094205078228</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EP</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>Merchants Bancorp. (Indiana)</name>
        <lei>54930008Y0GPVLF81889</lei>
        <title>Merchants Bancorp. (Indiana) 7.625% DEPOSITARY SHS REPSTG 1/40TH INT FXD RATE NON CUM PERP PFD SER E</title>
        <cusip>58844R850</cusip>
        <identifiers>
          <isin value="US58844R8503"/>
          <ticker value="MBINL"/>
        </identifiers>
        <balance>654466.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>15595924.78000000</valUSD>
        <pctVal>0.116972854486</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EP</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>Global Net Lease Inc</name>
        <lei>549300NUYANCT5SU8Z65</lei>
        <title>Global Net Lease Inc 7.50% CUM RED PFD SER D</title>
        <cusip>379378508</cusip>
        <identifiers>
          <isin value="US3793785086"/>
          <ticker value="GNL D"/>
        </identifiers>
        <balance>564387.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>12653556.54000000</valUSD>
        <pctVal>0.094904447717</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EP</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>Agnc Investment Corp</name>
        <lei>5TRACI5HRMELWV32OF39</lei>
        <title>Agnc Investment Corp DEPOSITARY SHARES EACH REPRESENTING A 1/1,000TH INTEREST IN A SHARE OF 8.75% SERIES H FIXED-RATE CUMULATIVE REDEEMABLE PREFERRED</title>
        <cusip>00123Q831</cusip>
        <identifiers>
          <isin value="US00123Q8318"/>
          <ticker value="AGNCZ"/>
        </identifiers>
        <balance>981775.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>24721094.50000000</valUSD>
        <pctVal>0.185413627630</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EP</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>CMS Energy Corporation</name>
        <lei>549300IA9XFBAGNIBW29</lei>
        <title>CMS Energy Corporation 5.875% OF JUNIOR SUBORDINATED PREFERRED SECURITIES DUE ON 10/15/2078</title>
        <cusip>125896852</cusip>
        <identifiers>
          <isin value="US1258968528"/>
          <ticker value="CMSC"/>
        </identifiers>
        <balance>796815.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>17450248.50000000</valUSD>
        <pctVal>0.130880688855</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EP</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>Citigroup Capital XIII</name>
        <lei>N/A</lei>
        <title>Citigroup Capital XIII FIXED/FLOAT TRUST PREFERRED SECURITIES</title>
        <cusip>173080201</cusip>
        <identifiers>
          <isin value="US1730802014"/>
          <ticker value="C N"/>
        </identifiers>
        <balance>6390863.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>187571829.05000000</valUSD>
        <pctVal>1.406829833742</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EP</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>Adamas Trust Inc.</name>
        <lei>549300JFGR0M7ULHWG48</lei>
        <title>Adamas Trust Inc. 6.875% SERIES F FIXED-TO-FLOATING RATE CUMULATIVE REDEEMABLE PREFERRED STOCK</title>
        <cusip>649604865</cusip>
        <identifiers>
          <isin value="US6496048652"/>
          <ticker value="ADAML"/>
        </identifiers>
        <balance>427594.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>10039907.12000000</valUSD>
        <pctVal>0.075301504154</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EP</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>Digital Realty Trust Inc.</name>
        <lei>549300HKCZ31D08NEI41</lei>
        <title>Digital Realty Trust Inc. 5.850% SERIES K CUMULATIVE REDEEMABLE PREFERRED STOCK</title>
        <cusip>253868830</cusip>
        <identifiers>
          <isin value="US2538688308"/>
          <ticker value="DLR K"/>
        </identifiers>
        <balance>597535.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>13151745.35000000</valUSD>
        <pctVal>0.098640972996</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EP</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>Georgia Power Company</name>
        <lei>D981X4Z4RWS7PDMJUZ03</lei>
        <title>Georgia Power Company SERIES 2017A 5.00% JUNIOR SUBORDINATED NOTES DUE OCTOBER 1, 2077</title>
        <cusip>373334440</cusip>
        <identifiers>
          <isin value="US3733344408"/>
          <ticker value="GPJA"/>
        </identifiers>
        <balance>768318.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>16334440.68000000</valUSD>
        <pctVal>0.122511885620</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EP</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>Brc Group Holdings Inc.</name>
        <lei>529900LRQ75IKIPK4990</lei>
        <title>Brc Group Holdings Inc. 6.5% SENIOR NOTES DUE SEPTEMBER 30, 2026</title>
        <cusip>05580M801</cusip>
        <identifiers>
          <isin value="US05580M8010"/>
          <ticker value="RILYN"/>
        </identifiers>
        <balance>513745.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>12309330.20000000</valUSD>
        <pctVal>0.092322674713</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EP</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>Citizens Financial Group Inc</name>
        <lei>2138004JDDA4ZQUPFW65</lei>
        <title>Citizens Financial Group Inc DEPOSITARY SHARES, EACH REPRESENTING A 1/40TH INTEREST IN A SHARE OF 6.500% FIXED-RATE RESET NON-CUMULATIVE PERPETUAL PRE</title>
        <cusip>174610808</cusip>
        <identifiers>
          <isin value="US1746108083"/>
          <ticker value="CFG I"/>
        </identifiers>
        <balance>1138220.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>28296149.20000000</valUSD>
        <pctVal>0.212227321534</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EP</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>Saratoga Investment Corp.</name>
        <lei>54930023WJCWPAGSWE41</lei>
        <title>Saratoga Investment Corp. 6.00% NOTES DUE 2027</title>
        <cusip>80349A802</cusip>
        <identifiers>
          <isin value="US80349A8027"/>
          <ticker value="SAT"/>
        </identifiers>
        <balance>310972.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>7668569.52000000</valUSD>
        <pctVal>0.057515952355</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EP</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>First Citizens BancShares Inc (Delaware)</name>
        <lei>549300N3Z00ZHE2XC526</lei>
        <title>First Citizens BancShares Inc (Delaware) DEPOSITARY SHARES, EACH REPRESENTING A 1/40TH INTEREST IN A SHARE OF 6.625% NON-CUMULATIVE PERPETUAL PREFERRE</title>
        <cusip>31959X400</cusip>
        <identifiers>
          <isin value="US31959X4007"/>
          <ticker value="FCNCN"/>
        </identifiers>
        <balance>1139292.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>28163298.24000000</valUSD>
        <pctVal>0.211230910213</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EP</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>W.R. Berkley Corporation</name>
        <lei>SQOAGCLKBDWNVYV1OV80</lei>
        <title>W.R. Berkley Corporation 4.25% SUBORDINATED DEBENTURES DUE SEPTEMBER 30, 2060</title>
        <cusip>084423888</cusip>
        <identifiers>
          <isin value="US0844238883"/>
          <ticker value="WRB G"/>
        </identifiers>
        <balance>711307.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>11459155.77000000</valUSD>
        <pctVal>0.085946180129</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EP</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>Vornado Realty Trust</name>
        <lei>N/A</lei>
        <title>Vornado Realty Trust 5.40% SERIES L CUMULATIVE REDEEMABLE PREFERRED SHARES OF BENEFICIAL INTEREST</title>
        <cusip>929042844</cusip>
        <identifiers>
          <isin value="US9290428443"/>
          <ticker value="VNO L"/>
        </identifiers>
        <balance>853594.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>13828222.80000000</valUSD>
        <pctVal>0.103714702155</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EP</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <loanByFundCondition isLoanByFund="Y" loanVal="1620.00000000"/>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>Ready Capital Corp.</name>
        <lei>549300MYWGZUG7ZUYO87</lei>
        <title>Ready Capital Corp. 6.50% SERIES E CUMULATIVE REDEEMABLE PREFERRED STOCK</title>
        <cusip>75574U887</cusip>
        <identifiers>
          <isin value="US75574U8870"/>
          <ticker value="RC E"/>
        </identifiers>
        <balance>343242.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>3477041.46000000</valUSD>
        <pctVal>0.026078573119</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EP</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>Chimera Investment Corporation</name>
        <lei>2JBBQFJOL123LOUBE657</lei>
        <title>Chimera Investment Corporation 8.00% SERIES A CUMULATIVE REDEEMABLE PREFERRED STOCK</title>
        <cusip>16934Q307</cusip>
        <identifiers>
          <isin value="US16934Q3074"/>
          <ticker value="CIM A"/>
        </identifiers>
        <balance>412576.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>8449556.48000000</valUSD>
        <pctVal>0.063373525748</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EP</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>American Homes 4 Rent</name>
        <lei>549300ZJUO7A58PNUW40</lei>
        <title>American Homes 4 Rent 5.875% SERIES G CUMULATIVE REDEEMABLE PERPETUAL PREFERRED SHARES</title>
        <cusip>02665T876</cusip>
        <identifiers>
          <isin value="US02665T8760"/>
          <ticker value="AMH G"/>
        </identifiers>
        <balance>327230.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>7303773.60000000</valUSD>
        <pctVal>0.054779902991</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EP</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>ATLANTICUS HOLDINGS CORP</name>
        <lei>N/A</lei>
        <title>Atlanticus Holdings Corp. 9.25% SENIOR NOTES DUE JANUARY 31, 2029</title>
        <cusip>04914Y409</cusip>
        <identifiers>
          <isin value="US04914Y4098"/>
          <ticker value="ATLCZ"/>
        </identifiers>
        <balance>476335.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>11984588.60000000</valUSD>
        <pctVal>0.089887041529</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EP</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>Athene Holding Ltd</name>
        <lei>549300H316CT32FQXI76</lei>
        <title>Athene Holding Ltd DEP SHS EACH REP A 1/1,000TH INT IN A SHARE OF 5.625% FXD RAT PERP NON CUM PREFERENCE SHS SER B</title>
        <cusip>04686J200</cusip>
        <identifiers>
          <isin value="US04686J2006"/>
          <ticker value="ATH B"/>
        </identifiers>
        <balance>981766.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>18535742.08000000</valUSD>
        <pctVal>0.139022128646</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EP</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>Morgan Stanley</name>
        <lei>IGJSJL3JD5P30I6NJZ34</lei>
        <title>Morgan Stanley DEPOSITARY SHARES, EACH REPRESENTING 1/1,000TH OWNERSHIP INTEREST IN A SHARE OF 6.500% NON-CUMULATIVE PREFERRED STOCK, SERIES P</title>
        <cusip>61762V853</cusip>
        <identifiers>
          <isin value="US61762V8533"/>
          <ticker value="MS P"/>
        </identifiers>
        <balance>2845407.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>70765272.09000000</valUSD>
        <pctVal>0.530755052468</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EP</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>Fifth Third Bancorp</name>
        <lei>THRNG6BD57P9QWTQLG42</lei>
        <title>Fifth Third Bancorp DEPOSITARY SHARES REPRESENTING A 1/40TH OWNERSHIP INTEREST IN A SHARE OF 6.875% FIXED-RATE RESET NON-CUMULATIVE PERPETUAL PREFERRE</title>
        <cusip>316773837</cusip>
        <identifiers>
          <isin value="US3167738372"/>
          <ticker value="FITBM"/>
        </identifiers>
        <balance>1138228.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>29662221.68000000</valUSD>
        <pctVal>0.222473164578</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EP</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <loanByFundCondition isLoanByFund="Y" loanVal="1485.42000000"/>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>M&amp;T Bank Corporation</name>
        <lei>549300WYXDDBYRASEG81</lei>
        <title>M&amp;T Bank Corporation PERPETUAL FIXED-TO-FLOATING RATE NON-CUMULATIVE PREFERRED STOCK, SERIES H</title>
        <cusip>55261F872</cusip>
        <identifiers>
          <isin value="US55261F8721"/>
          <ticker value="MTB H"/>
        </identifiers>
        <balance>711308.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>17540855.28000000</valUSD>
        <pctVal>0.131560259566</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EP</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>Public Storage</name>
        <lei>254900GLQZAD4N7N5Q19</lei>
        <title>Public Storage DEPOSITARY SHARES EACH REPRESENTING 1/1000 OF A 4.125% CUMULATIVE PREFERRED SHARE OF BENEFICIAL INTEREST, SERIES M</title>
        <cusip>74460W537</cusip>
        <identifiers>
          <isin value="US74460W5379"/>
          <ticker value="PSA M"/>
        </identifiers>
        <balance>677813.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>10607773.45000000</valUSD>
        <pctVal>0.079560626105</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EP</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>Carlyle Finance LLC</name>
        <lei>N/A</lei>
        <title>Carlyle Finance LLC CARLYLE FINANCE L.L.C. 4.625% SUBORDINATED NOTES DUE MAY 15, 2061</title>
        <cusip>14314C105</cusip>
        <identifiers>
          <isin value="US14314C1053"/>
          <ticker value="CGABL"/>
        </identifiers>
        <balance>1422784.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>24898720.00000000</valUSD>
        <pctVal>0.186745857815</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EP</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>Federal Realty Investment Trust</name>
        <lei>549300FHEI1SLVZ0RB48</lei>
        <title>Federal Realty Investment Trust DEP SHS REP 1/1000 CUM RED 5.0% SERIES C</title>
        <cusip>313745200</cusip>
        <identifiers>
          <isin value="US3137452005"/>
          <ticker value="FRT C"/>
        </identifiers>
        <balance>426913.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>8235151.77000000</valUSD>
        <pctVal>0.061765443425</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EP</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>Equitable Holdings Inc</name>
        <lei>549300FIBAKMNHPZ4009</lei>
        <title>Equitable Holdings Inc DEPOSITARY SHARES EACH REPRESENTING A 1/1,000TH INTEREST IN A SHARE OF THE ISSUERS FIXED RATE NONCUMULATIVE PERPETUAL PREFERRED</title>
        <cusip>29452E408</cusip>
        <identifiers>
          <isin value="US29452E4089"/>
          <ticker value="EQH C"/>
        </identifiers>
        <balance>870010.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>13885359.60000000</valUSD>
        <pctVal>0.104143240679</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EP</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>Brookfield Infrastructure Partners LP</name>
        <lei>549300WEH5R2OODI7Y90</lei>
        <title>Brookfield Infrastructure Partners LP 5.00% CLASS A PREFERRED LIMITED PARTNERSHIP UNITS, SERIES 14</title>
        <cusip>000000000</cusip>
        <identifiers>
          <isin value="BMG162522756"/>
          <ticker value="BIP B"/>
          <other otherDesc="SEDOL" value="BMT9V97"/>
        </identifiers>
        <balance>569030.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>9036196.40000000</valUSD>
        <pctVal>0.067773453740</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EP</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>BM</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>PennyMac Mortgage Investment Trust</name>
        <lei>549300BSSOQO1ZWDUJ97</lei>
        <title>PennyMac Mortgage Investment Trust SENIOR UNSECURED NOTES DUE JUNE 15, 2030</title>
        <cusip>70931T806</cusip>
        <identifiers>
          <isin value="US70931T8062"/>
          <ticker value="PMTW"/>
        </identifiers>
        <balance>313252.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>7787444.72000000</valUSD>
        <pctVal>0.058407542412</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EP</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>Qwest Corporation</name>
        <lei>549300R2L4N683OO1509</lei>
        <title>Qwest Corporation 6.5% NOTES DUE 2056</title>
        <cusip>74913G881</cusip>
        <identifiers>
          <isin value="US74913G8814"/>
          <ticker value="CTBB"/>
        </identifiers>
        <balance>2781348.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>52011207.60000000</valUSD>
        <pctVal>0.390095457890</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EP</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>Compass Diversified</name>
        <lei>5299001SM1LBYANJRR58</lei>
        <title>Compass Diversified 7.875% EACH SERIES C CUMULATIVE PREFERRED SHARE REPRESENTS ONE CORRESPONDING BENEFICIAL INTEREST</title>
        <cusip>20451Q401</cusip>
        <identifiers>
          <isin value="US20451Q4010"/>
          <ticker value="CODI C"/>
        </identifiers>
        <balance>562405.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>10989393.70000000</valUSD>
        <pctVal>0.082422861632</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EP</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>Bank of America Corp.</name>
        <lei>9DJT3UXIJIZJI4WXO774</lei>
        <title>Bank of America Corp. 5.875% NON-CUMULATIVE PREFERRED STOCK.</title>
        <cusip>060505195</cusip>
        <identifiers>
          <isin value="US0605051954"/>
          <ticker value="BAC K"/>
        </identifiers>
        <balance>1644528.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>40455388.80000000</valUSD>
        <pctVal>0.303424283847</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EP</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <loanByFundCondition isLoanByFund="Y" loanVal="162360.00000000"/>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>The Allstate Corporation</name>
        <lei>OBT0W1ED8G0NWVOLOJ77</lei>
        <title>The Allstate Corporation DEPOSITARY SHARES EACH REPRESENTING A 1/1,000TH INTEREST IN A SHARE OF FIXED RATE NONCUMULATIVE PERPETUAL PREFERRED STOCK SER</title>
        <cusip>020002812</cusip>
        <identifiers>
          <isin value="US0200028126"/>
          <ticker value="ALL I"/>
        </identifiers>
        <balance>853593.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>15842686.08000000</valUSD>
        <pctVal>0.118823618327</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EP</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
    </invstOrSecs>
    <explntrNotes>


      <explntrNote note="Monthly returns presented in Item B.5(a) have been calculated without deducting any applicable sales loads or redemption fees." noteItem="B.5.a"/>



    </explntrNotes>
    <signature>
      <ncom:dateSigned>2026-05-26</ncom:dateSigned>
      <ncom:nameOfApplicant>iShares Trust</ncom:nameOfApplicant>
      <ncom:signature>Chuck Pulsfort</ncom:signature>
      <ncom:signerName>Chuck Pulsfort</ncom:signerName>
      <ncom:title>Assistant Treasurer</ncom:title>
    </signature>
  </formData>
</edgarSubmission>
