BNP V7.375 PERP 144A

NPORT-P false 0001559991 XXXXXXXX Flaherty & Crumrine Dynamic Preferred & Income Fund Inc 811-22762 0001559991 254900BPH613QBWQO237 301 East Colorado Boulevard Suite 800 Pasadena 91101 626-795-7300 Flaherty & Crumrine Dynamic Preferred and Income Fund Incorporated 254900BPH613QBWQO237 2026-11-30 2026-02-27 N 752969718.45 283813214.94 469156503.51 0.00000000 0.00000000 276300000.00000000 0.00000000 0.00000000 0.00000000 0.00000000 0.00000000 0.00000000 0.00000000 0.00000000 0.00000000 0.00000000 0.00000000 USD N BNP Paribas SA R0MUWSFPU8MPRO8K5P83 BNP V7.375 PERP 144A 05602XJC3 2300000.00000000 PA USD 2417033.20000000 0.515186975330 Long DBT CORP FR N 2 N/A Fixed 7.37500000 N N N N N N Credit Agricole S.A. 969500TJ5KRTCJQWXH05 ACAFP V7.125 PERP 144A 225313AT2 1640000.00000000 PA USD 1725991.05000000 0.367892384968 Long DBT CORP FR N 2 N/A Fixed 7.12500000 N N N N N N KKR Real Estate Finance Trust Inc. 549300K23AYZDZ2REL62 KKR Real Estate Finance Trust Inc. 6.50% SERIES A CUMULATIVE REDEEMABLE PREFERRED STOCK 48251K209 229900.00000000 NS USD 4018652.00000000 0.856569603092 Long EP CORP US N 1 N N N Sempra PBBKGKLRK5S5C0Y4T545 SRE V4.125 04/01/52 816851BM0 3250000.00000000 PA USD 3210211.55000000 0.684251742431 Long DBT CORP US N 2 2052-04-01 Fixed 4.12500000 N N N N N N Sunoco LP 54930001NJU8E40NQ561 SUN V7.875 PERP 144A 86765KAE9 1445000.00000000 PA USD 1494773.03000000 0.318608613291 Long DBT CORP US N 2 N/A Fixed 7.87500000 N N N N N N Societe Generale S.A. O2RNE8IBXP4R0TD8PU41 SOCGEN V4.75 PERP 144A 83370RAB4 2300000.00000000 PA USD 2306849.17000000 0.491701415783 Long DBT CORP FR N 2 N/A Fixed 4.75000000 N N N N N N Centerpoint Energy Inc 21TPXMRRHFKOBHDC8J74 CNP V6.85 02/15/55 B 15189TBJ5 2245000.00000000 PA USD 2386623.58000000 0.508705210765 Long DBT CORP US N 2 2055-02-15 Fixed 6.85000000 N N N N N N Paramount Global 5KYC8KF17ROCY24M3H09 PARA V6.375 03/30/62 92556HAE7 4370000.00000000 PA USD 3452300.00000000 0.735852529842 Long DBT CORP US N 2 2062-03-30 Fixed 6.37500000 N N N N N N Citigroup Inc. 6SHGI4ZSSLCXXQSBB395 Citigroup Inc. DEPOSITARY SHARES EACH REPRESENTING A 1/1,000TH INTEREST IN A SHARE OF 6.25% NONCUMULATIVE PREFERRED STOCK, SERIES II 172967242 60000.00000000 NS USD 1524000.00000000 0.324838297795 Long EP CORP US N 1 N N N Qwest Corporation 549300R2L4N683OO1509 Qwest Corporation 6.75% NOTES DUE 2057 74913G873 82550.00000000 NS USD 1639443.00000000 0.349444798853 Long EP CORP US N 1 N N N TXNM Energy Inc. 5493003JOBJGLZSDDQ28 TXNM V7 07/31/56 144A 69349HAJ6 1570000.00000000 PA USD 1595780.97000000 0.340138303116 Long DBT CORP US N 2 2056-07-31 Fixed 7.00000000 N N N N N N BNP Paribas SA R0MUWSFPU8MPRO8K5P83 BNP V7.75 PERP 144A 05565AM34 2280000.00000000 PA USD 2428293.48000000 0.517587087002 Long DBT CORP FR N 2 N/A Fixed 7.75000000 N N N N N N BNP Paribas SA R0MUWSFPU8MPRO8K5P83 BNP V8.5 PERP 144A 05565A5R0 5576000.00000000 PA USD 5964697.38000000 1.271366236080 Long DBT CORP FR N 2 N/A Fixed 8.50000000 N N N N N N Renaissancere Holdings Ltd. EK6GB9U3U58PDI411C94 Renaissancere Holdings Ltd. DEPOSITARY SHARES, EACH REPRESENTING 1/1000TH INTEREST IN A SHARE OF THE COMPANYS 4.20% SERIES G PREFERENCE SHARES 000000000 67657.00000000 NS USD 1079805.72000000 0.230158958028 Long EP CORP BM N 1 N N N Barclays PLC 213800LBQA1Y9L22JB70 BACR V9.625 PERP 06738ECN3 2350000.00000000 PA USD 2665741.30000000 0.568198731139 Long DBT CORP GB N 2 N/A Fixed 9.62500000 N N N N Y Barclays PLC Barclays PLC ADR USD XXXX N N N Wintrust Financial Corporation Q774KI4AW80FHFW33O61 Wintrust Financial Corporation DEPOSITARY SHARES EACH REPRESENTING A 1/1,000TH INTEREST IN A SHARE OF 7.875% FIXED-RATE RESET NON-CUMULATIVE PERPETUAL 97650W702 78080.00000000 NS USD 2084736.00000000 0.444358329129 Long EP CORP US N 1 N N N Royal Bank of Canada ES7IP3U3RHIGC71XBU11 RY V7.5 05/02/84 780082AR4 2213000.00000000 PA USD 2338030.91000000 0.498347756560 Long DBT CORP CA N 2 2084-05-02 Fixed 7.50000000 N N N N N N Stifel Financial Corporation 549300E5F07FE5GHJX84 Stifel Financial Corporation DEPOSITARY SHARES, EACH REPRESENTING A 1/1000TH INTEREST IN A SHARE OF 4.50% NON-CUMULATIVE PREFERRED STOCK, SERIES D 860630862 37152.00000000 NS USD 644958.72000000 0.137471976872 Long EP CORP US N 1 N N N State Street Corp. 549300ZFEEJ2IP5VME73 STT V6.7 PERP I 857477CH4 2343000.00000000 PA USD 2454873.56000000 0.523252590901 Long DBT CORP US N 2 N/A Fixed 6.70000000 N N N N N N Northwest Natural Holding Company 254900PSJL6ZEC8FR782 NWN V7 09/15/55 66765NAA3 1795000.00000000 PA USD 1878463.91000000 0.400391744747 Long DBT CORP US N 2 2055-09-15 Fixed 7.00000000 N N N N N N Qwest Corporation 549300R2L4N683OO1509 Qwest Corporation 6.5% NOTES DUE 2056 74913G881 54050.00000000 NS USD 1046948.50000000 0.223155491220 Long EP CORP US N 1 N N N TPG Operating Group II LP 2549001H9RJQNZT7MU11 TPG Operating Group II LP FIXED-RATE JUNIOR SUBORDINATED NOTES DUE ON MARCH 15, 2064 872652102 64340.00000000 NS USD 1573756.40000000 0.335443799292 Long EP CORP US N 1 N N N Bank of America Corp. 9DJT3UXIJIZJI4WXO774 BAC V6.25 PERP 06055HAK9 2110000.00000000 PA USD 2172355.02000000 0.463034190882 Long DBT CORP US N 2 N/A Fixed 6.25000000 N N N N N N MetLife Inc. C4BXATY60WC6XEOZDX54 MET 9.25 04/08/38 59156RBS6 17200000.00000000 PA USD 20571062.40000000 4.384690875240 Long DBT CORP US N 2 2038-04-08 Fixed 9.25000000 N N N N N N Edison International 549300I7ROF15MAEVP56 EIX V5 PERP B 281020AT4 4200000.00000000 PA USD 4156671.54000000 0.885988259547 Long DBT CORP US N 2 N/A Fixed 5.00000000 N N N N N N AERCAP IRELAND CAPITAL DAC 549300TI38531ODB1G63 AER V6.5 01/31/56 00774MBQ7 1420000.00000000 PA USD 1473066.82000000 0.313981967420 Long DBT CORP IE N 2 2056-01-31 Fixed 6.50000000 N N N N N N Edison International 549300I7ROF15MAEVP56 EIX V5.375 PERP A 281020AS6 1290000.00000000 PA USD 1290887.00000000 0.275150613993 Long DBT CORP US N 2 N/A Fixed 5.37500000 N N N N N N Enbridge Inc. 98TPTUM4IVMFCZBCUR27 ENBCN V6 01/15/77 16-A 29250NAN5 3500000.00000000 PA USD 3528798.00000000 0.752157962982 Long DBT CORP CA N 2 2077-01-15 Fixed 6.00000000 N N N N N N Societe Generale S.A. O2RNE8IBXP4R0TD8PU41 SOCGEN V9.375 PERP 144A 83370RAC2 7540000.00000000 PA USD 8040180.98000000 1.713752430126 Long DBT CORP FR N 2 N/A Fixed 9.37500000 N N N N N N General Motors Financial Company Inc 5493008B6JBRUJ90QL97 GM V6.5 PERP B 37045XCM6 2500000.00000000 PA USD 2541962.50000000 0.541815466903 Long DBT CORP US N 2 N/A Fixed 6.50000000 N N N N N N Evergy Inc 549300PGTHDQY6PSUI61 EVRG V6.65 06/01/55 30034WAE6 1940000.00000000 PA USD 2005476.94000000 0.427464380221 Long DBT CORP US N 2 2055-06-01 Fixed 6.65000000 N N N N N N SCE Trust VIII N/A SCE Trust VIII 6.95% TRUST PREFERENCE SECURITIES SERIES N 80620A208 68000.00000000 NS USD 1651040.00000000 0.351916681884 Long EP CORP US N 1 N N N UBS Group AG 549300SZJ9VS8SGXAN81 UBS V4.375 PERP 144A 902613AD0 1550000.00000000 PA USD 1411611.15000000 0.300882784196 Long DBT CORP CH N 2 N/A Fixed 4.37500000 N N N N N N Goldman Sachs Group, Inc. 784F5XWPLTWKTBV3E584 GS V6.85 PERP 38141GC28 1180000.00000000 PA USD 1236448.84000000 0.263547202425 Long DBT CORP US N 2 N/A Fixed 6.85000000 N N N N N N Morgan Stanley IGJSJL3JD5P30I6NJZ34 Morgan Stanley DEPOSITARY SHARES, EACH REPRESENTING 1/1,000TH OWNERSHIP INTEREST IN A SHARE OF 6.625% NONCUMULATIVE PREFERRED STOCK, SERIES Q 61762V838 44600.00000000 NS USD 1177440.00000000 0.250969557320 Long EP CORP US N 1 N N N Phillips 66 Co. RVJMT2IZVVSKIRJJBH76 PSX V6.2 03/15/56 B 718547BA9 3750000.00000000 PA USD 3802451.25000000 0.810486739830 Long DBT CORP US N 2 2056-03-15 Fixed 6.20000000 N N N N N N Citigroup Inc. 6SHGI4ZSSLCXXQSBB395 C V6.875 PERP GG 17327CBC6 1875000.00000000 PA USD 1923665.63000000 0.410026423082 Long DBT CORP US N 2 N/A Fixed 6.87500000 N N N N N N Royal Bank of Canada ES7IP3U3RHIGC71XBU11 RY V6.35 11/24/84 780082AT0 3220000.00000000 PA USD 3190749.84000000 0.680103508344 Long DBT CORP CA N 2 2084-11-24 Fixed 6.35000000 N N N N N N Synchrony Financial 549300RS7EWPM9MA6C78 Synchrony Financial DEPOSITARY SHARES EACH REPRESENTING A 1/40TH INTEREST IN A SHARE OF 8.250% FIXED RATE RESET NON-CUMULATIVE PERPETUAL PREFERRED STO 87165B400 149900.00000000 NS USD 3915388.00000000 0.834559037486 Long EP CORP US N 1 N N N Cobank ACB P0J8I7M2E0A77CKF1705 COBKAC V6.25 PERP I 19075QAC6 550000.00000000 PA USD 552454.65000000 0.117754874091 Long DBT USGSE US N 2 N/A Fixed 6.25000000 N N N N N N F&G Annuities & Life Inc. N/A F&G Annuities & Life Inc. CALLABLE FIXED FOR LIFE JUNIOR SUBORDINATED NOTES DUE JANUARY 15, 2065 30190A609 98000.00000000 NS USD 2159920.00000000 0.460383685154 Long EP CORP US N 1 N N N HSBC Holdings PLC MLU0ZO3ML4LN2LL2TL39 HSBC V6.95 PERP 404280EJ4 1600000.00000000 PA USD 1692932.80000000 0.360846068920 Long DBT CORP GB N 2 N/A Fixed 6.95000000 N N N N N N Ally Financial Inc. 549300JBN1OSM8YNAI90 ALLY V4.7 PERP C 02005NBN9 2150000.00000000 PA USD 2033695.75000000 0.433479176945 Long DBT CORP US N 2 N/A Fixed 4.70000000 N N N N N N NiSource Inc. 549300D8GOWWH0SJB189 NI V6.375 03/31/55 65473PAT2 940000.00000000 PA USD 982116.70000000 0.209336690987 Long DBT CORP US N 2 2055-03-31 Fixed 6.37500000 N N N N N N Xcel Energy Inc LGJNMI9GH8XIDG5RCM61 Xcel Energy Inc 6.25% NOTES ISSUED DUE ON OCTOBER 15, 2085 98389B878 74800.00000000 NS USD 1866260.00000000 0.397790499766 Long EP CORP US N 1 N N N JPMorgan Chase & Co. 8I5DZWZKVSZI1NUHU748 JPM V3.65 PERP KK 48128BAN1 4375000.00000000 PA USD 4362147.30000000 0.929785107392 Long DBT CORP US N 2 N/A Fixed 3.65000000 N N N N N N Wells Fargo & Co. PBLD0EJDB5FWOLXP3B76 WFC V3.9 PERP BB 949746TD3 2125000.00000000 PA USD 2124087.55000000 0.452746052566 Long DBT CORP US N 2 N/A Fixed 3.90000000 N N N N N N PINNACLE FINANCIAL PARTNERS INC N/A Pinnacle Financial Partners Inc. FIXED RATE RESET NON-CUM PERP PFD SER B 72348N307 288094.00000000 NS USD 7533658.10000000 1.605787843424 Long EP CORP US N 1 N N N First Horizon Corporation TF3RXI1ZB1TQ30H9JV10 First Horizon Corporation DEPOSITARY SHARES EACH REPRESENTING 1/4,000TH INTEREST IN A SHARE OF NON-CUMULATIVE PERPETUAL PREFERRED STOCK, SERIES E 320517402 48634.00000000 NS USD 1202718.82000000 0.256357699616 Long EP CORP US N 1 N N N Wells Fargo & Co. PBLD0EJDB5FWOLXP3B76 WFC V6.85 PERP 95002YAC7 3500000.00000000 PA USD 3693910.50000000 0.787351442933 Long DBT CORP US N 2 N/A Fixed 6.85000000 N N N N N N Land O'Lakes Inc. 4ONCJWH5BBCYSJIJYX61 LLAKES 7.25 PERP 144a 514666AM8 725000.00000000 PA USD 674250.00000000 0.143715368955 Long DBT CORP US N 2 N/A Fixed 7.25000000 N N N N N N The Toronto-Dominion Bank PT3QB789TSUIDF371261 TD V8.125 10/31/82 89117F8Z5 1000000.00000000 PA USD 1047056.00000000 0.223178404682 Long DBT CORP CA N 2 2082-10-31 Fixed 8.12500000 N N N N N N Annaly Capital Management, Inc. 2DTL0G3FPRYUT58TI025 Annaly Capital Management, Inc. 6.95% SERIES F FIXED-TO-FLOATING RATE CUMULATIVE REDEEMABLE PREFERRED STOCK 035710870 10685.00000000 NS USD 277168.90000000 0.059078132334 Long EP CORP US N 1 N N N Bank of Nova Scotia L3I9ZG2KFGXZ61BMYR72 BNS V8 01/27/84 0641598V1 2460000.00000000 PA USD 2633621.88000000 0.561352525286 Long DBT CORP CA N 2 2084-01-27 Fixed 8.00000000 N N N N N N UBS Group AG 549300SZJ9VS8SGXAN81 UBS V7 PERP 144 902613BW7 1840000.00000000 PA USD 1852822.96000000 0.394926414989 Long DBT CORP CH N 2 N/A Fixed 7.00000000 N N N N N N Morgan Stanley IGJSJL3JD5P30I6NJZ34 Morgan Stanley DEPOSITARY SHARES EACH REPRESENTING 1/1,000 TH OF A SHARE OF FIXED-TO-FLOATING RATE NON-CUMULATIVE PREFERRED STOCK, SERIES E 61762V200 121675.00000000 NS USD 3102712.50000000 0.661338482316 Long EP CORP US N 1 N N N HSBC Holdings PLC MLU0ZO3ML4LN2LL2TL39 HSBC V6 PERP * 404280BL2 1000000.00000000 PA USD 1010482.12000000 0.215382737410 Long DBT CORP GB N 2 N/A Fixed 6.00000000 N N N N Y HSBC Holdings PLC HSBC Holdings PLC GBP XXXX N N N Dime Community Bancshares Inc. 0002487650 Dime Community Bancshares Inc. 9.000% FIXED TO FLOATING RATE SUBORDINATED NOTES DUE JULY 15, 2034 25432X300 46000.00000000 NS USD 1203360.00000000 0.256494366165 Long EP CORP US N 1 N N N Banco Bilbao Vizcaya Argentaria SA K8MS7FD7N5Z2WQ51AZ71 BBVASM V9.375 PERP 05946KAM3 4800000.00000000 PA USD 5358019.20000000 1.142053698480 Long DBT CORP ES N 2 N/A Fixed 9.37500000 N N N N Y Banco Bilbao Vizcaya Argentaria SA Banco Bilbao Vizcaya Argentaria SA EUR0.49 EUR XXXX N N N NextEra Energy Capital Holdings Inc UMI46YPGBLUE4VGNNT48 NEE V6.75 06/15/54 65339KDB3 2265000.00000000 PA USD 2410575.76000000 0.513810581749 Long DBT CORP US N 2 2054-06-15 Fixed 6.75000000 N N N N N N WaFd Inc 0003065617 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 938824307 55000.00000000 NS USD 902000.00000000 0.192259937409 Long EP CORP US N 1 N N N Assurant Inc. H3F39CAXWQRVWURFXL38 Assurant Inc. 5.25% SUBORDINATED NOTES DUE JANUARY 15, 2061 04621X306 8203.00000000 NS USD 168325.56000000 0.035878338835 Long EP CORP US N 1 N N N Fifth Third Bancorp THRNG6BD57P9QWTQLG42 Fifth Third Bancorp DEPOSITARY SHARES REPRESENTING A 1/40TH OWNERSHIP INTEREST IN A SHARE OF 6.875% FIXED-RATE RESET NON-CUMULATIVE PERPETUAL PREFERRE 316773837 360660.00000000 NS USD 9286995.00000000 1.979508955011 Long EP CORP US N 1 N N N Kuvare United States Holdings Inc 254900MGBERNLZXF7O58 KUVARE V7 02/17/51 144A 50149XAA2 3425000.00000000 PA USD 3441963.13000000 0.733649241617 Long DBT CORP US N 2 2051-02-17 Fixed 7.00000000 N N N N N N British Telecommunications PLC 549300OWFMSO9NYV4H90 BRITEL V4.875 11/23/81 144A 11102AAG6 1195000.00000000 PA USD 1173917.45000000 0.250218731109 Long DBT CORP GB N 2 2081-11-23 Fixed 4.87500000 N N N N N N Wesbanco Inc 0001070448 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 950810887 169600.00000000 NS USD 4384160.00000000 0.934477081144 Long EP CORP US N 1 N N N Compeer Financial, ACA 54930020HTACTODKHT04 CMPFIN V4.875 PERP QIB 20453QAA0 660000.00000000 PA USD 651773.10000000 0.138924451675 Long DBT CORP US N 2 N/A Fixed 4.87500000 N N N N N N BNP Paribas SA R0MUWSFPU8MPRO8K5P83 BNP V7.45 PERP 144A 05602XQQ4 7160000.00000000 PA USD 7570275.16000000 1.613592714448 Long DBT CORP FR N 2 N/A Fixed 7.45000000 N N N N N N TPG RE Finance Trust Inc. N/A TPG RE Finance Trust Inc. 6.25% SERIES C CUMULATIVE REDEEMABLE PREFERRED STOCK 87266M206 65100.00000000 NS USD 1243410.00000000 0.265030963164 Long EP CORP US N 1 N N N Citizens Financial Group Inc 2138004JDDA4ZQUPFW65 CFG V6.375 PERP C 174610AQ8 2415000.00000000 PA USD 2426019.65000000 0.517102423572 Long DBT CORP US N 2 N/A Floating 7.06838000 N N N N N N Barclays PLC 213800LBQA1Y9L22JB70 BACR V7.625 PERP 06738EDC6 1825000.00000000 PA USD 1938533.25000000 0.413195433825 Long DBT CORP GB N 2 N/A Fixed 7.62500000 N N N N N N Stifel Financial Corporation 549300E5F07FE5GHJX84 Stifel Financial Corporation DEPOSITARY SHARES, EACH REPRESENTING A 1/1000TH INTEREST IN A SHARE OF 6.25% NON-CUMULATIVE PREFERRED STOCK SERIES B 860630706 65733.00000000 NS USD 1587451.95000000 0.338362985085 Long EP CORP US N 1 N N N Reinsurance Group of America, Incorporated LORM1GNEU1DKEW527V90 RGA V6.65 09/15/55 759351AT6 710000.00000000 PA USD 735305.11000000 0.156729173420 Long DBT CORP US N 2 2055-09-15 Fixed 6.65000000 N N N N N N Royal Bank of Canada ES7IP3U3RHIGC71XBU11 RY V6.75 08/24/85 780082AV5 1385000.00000000 PA USD 1437938.86000000 0.306494495811 Long DBT CORP CA N 2 2085-08-24 Fixed 6.75000000 N N N N N N SCE Trust V N/A SCE Trust V 5.45% FIXED-TO-FLOATING RATE TRUST PREFERENCE SECURITIES CUMULATIVE,SERIES ,K 78409W201 91458.00000000 NS USD 2316631.14000000 0.493786427912 Long EP CORP US N 1 N N N Algonquin Power & Utilities Corporation 549300K5VIUTJXQL7X75 Algonquin Power & Utilities Corporation FIXED-TO-FLOATING RATE SUBORDINATED NOTES SERIES 2019-A DUE JULY 1, 2079 015857808 198232.00000000 NS USD 5102491.68000000 1.087588393601 Long EP CORP CA N 1 N N N M&T Bank Corporation 549300WYXDDBYRASEG81 MTB V3.5 PERP 55261FAN4 1700000.00000000 PA USD 1681160.94000000 0.358336914744 Long DBT CORP US N 2 N/A Fixed 3.50000000 N N N N N N Ally Financial Inc. 549300JBN1OSM8YNAI90 ALLY V4.7 PERP B 02005NBM1 3230000.00000000 PA USD 3223697.95000000 0.687126348218 Long DBT CORP US N 2 N/A Fixed 4.70000000 N N N N N N Citigroup Inc. 6SHGI4ZSSLCXXQSBB395 C V4.15 PERP Y 172967NB3 1075000.00000000 PA USD 1072890.21000000 0.228684927518 Long DBT CORP US N 2 N/A Fixed 4.15000000 N N N N N N Huntington Bancshares Incorporated 549300XTVCVV9I7B5T19 HBAN V5.625 PERP F 446150AT1 850000.00000000 PA USD 871692.85000000 0.185800014169 Long DBT CORP US N 2 N/A Fixed 5.62500000 N N N N N N SBL Holdings Inc. 635400MJW3QDSBJRKQ59 SECBEN V9.508 PERP 144A 78397DAA6 3050000.00000000 PA USD 3048330.55000000 0.649747051824 Long DBT CORP US N 2 N/A Floating 9.50800000 N N N N N N NextEra Energy Capital Holdings Inc UMI46YPGBLUE4VGNNT48 NEE V6.375 08/15/55 65339KDE7 1870000.00000000 PA USD 1943520.92000000 0.414258548151 Long DBT CORP US N 2 2055-08-15 Fixed 6.37500000 N N N N N N TELUS CORP 894500TX134IMF6NW757 TCN V7 10/15/55 87971MCM3 1355000.00000000 PA USD 1430398.98000000 0.304887381779 Long DBT CORP CA N 2 2055-10-15 Fixed 7.00000000 N N N N N N Lloyds Banking Group PLC 549300PPXHEU2JF0AM85 LLOYDS V6.625 PERP 539439BF5 1635000.00000000 PA USD 1629452.77000000 0.347315396420 Long DBT CORP GB N 2 N/A Fixed 6.62500000 N N N N N N Sempra PBBKGKLRK5S5C0Y4T545 SRE V6.4 10/01/54 816851BT5 1875000.00000000 PA USD 1918599.38000000 0.408946559548 Long DBT CORP US N 2 2054-10-01 Fixed 6.40000000 N N N N N N First Citizens BancShares Inc (Delaware) 549300N3Z00ZHE2XC526 First Citizens BancShares Inc (Delaware) DEPOSITARY SHARES, EACH REPRESENTING A 1/40TH INTEREST IN A SHARE OF 6.625% NON-CUMULATIVE PERPETUAL PREFERRE 31959X400 97400.00000000 NS USD 2451558.00000000 0.522545884296 Long EP CORP US N 1 N N N Fulton Financial Corporation 5493005QLZ6O1BNC0C11 Fulton Financial Corporation DEPOSITARY SHARES, EACH REPRESENTING A 1/40TH INTEREST IN A SHARE OF FIXED RATE NON-CUMULATIVE PERPETUAL PREFERRED STOCK, 360271308 26200.00000000 NS USD 504088.00000000 0.107445595708 Long EP CORP US N 1 N N N Citigroup Inc. 6SHGI4ZSSLCXXQSBB395 C V7 PERP DD 172967PM7 2790000.00000000 PA USD 2943151.47000000 0.627328289809 Long DBT CORP US N 2 N/A Fixed 7.00000000 N N N N N N American National Group Inc. 549300RK5RZQ740FPL83 ANGINC V7 12/01/55 025676AR8 1695000.00000000 PA USD 1681729.51000000 0.358458104580 Long DBT CORP US N 2 2055-12-01 Fixed 7.00000000 N N N N N N Farm Credit Bank of Texas V1EBJIOLRNYDHDF63Z33 FARMCB V7 PERP 6 30767EAF6 1515000.00000000 PA USD 1572323.33000000 0.335138342586 Long DBT USGSE US N 2 N/A Fixed 7.00000000 N N N N N N PNC Financial Services Group Inc. CFGNEKW0P8842LEUIA51 PNC V6.25 PERP W 693475BP9 2200000.00000000 PA USD 2283261.20000000 0.486673675610 Long DBT CORP US N 2 N/A Fixed 6.25000000 N N N N N N Fifth Third Bancorp THRNG6BD57P9QWTQLG42 Fifth Third Bancorp DEPOSITARY SHARES, EACH REPRESENTING A 1/1,000TH OWNERSHIP INTEREST IN A SHARE OF SERIES I PREFERRED STOCK 316773605 276818.00000000 NS USD 7125295.32000000 1.518745933753 Long EP CORP US N 1 N N N American Electric Power Co, Inc. 1B4S6S7G0TW5EE83BO58 AEP V3.875 02/15/62 025537AU5 1360000.00000000 PA USD 1341208.84000000 0.285876638172 Long DBT CORP US N 2 2062-02-15 Fixed 3.87500000 N N N N N N UBS Group AG 549300SZJ9VS8SGXAN81 UBS V9.25 PERP 144A 902613BE7 500000.00000000 PA USD 586104.00000000 0.124927182212 Long DBT CORP CH N 2 N/A Fixed 9.25000000 N N N N N N Land O'Lakes Inc. 4ONCJWH5BBCYSJIJYX61 LLAKES 8 PERP 144A 514666AK2 11700000.00000000 PA USD 11736569.52000000 2.501632063542 Long DBT CORP US N 2 N/A Fixed 8.00000000 N N N N N N Bank of Nova Scotia L3I9ZG2KFGXZ61BMYR72 BNS V7.35 04/27/85 0641598X7 1770000.00000000 PA USD 1861974.51000000 0.396877054046 Long DBT CORP CA N 2 2085-04-27 Fixed 7.35000000 N N N N N N UMB Financial Corp. 549300MGEH3N3CUCV828 UMB Financial Corp. DEP SHS ECH REP A 1/400TH INT 7.750% FIXED NON-CUMULATIVE PREF STOCK SER B 902788405 112600.00000000 NS USD 3017680.00000000 0.643213933393 Long EP CORP US N 1 N N N Huntington Bancshares Incorporated 549300XTVCVV9I7B5T19 HBAN V6.25 PERP K 446150BG8 935000.00000000 PA USD 942542.65000000 0.200901542011 Long DBT CORP US N 2 N/A Fixed 6.25000000 N N N N N N The Bank of New York Mellon Corp. WFLLPEPC7FZXENRZV188 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 064058845 37300.00000000 NS USD 962713.00000000 0.205200821644 Long EP CORP US N 1 N N N Corebridge Financial Inc. 549300XY1661QCIA7J65 CRBG V6.375 09/15/54 21871XAT6 1875000.00000000 PA USD 1876411.88000000 0.399954357652 Long DBT CORP US N 2 2054-09-15 Fixed 6.37500000 N N N N N N Regions Financial Corporation CW05CS5KW59QTC0DG824 Regions Financial Corporation DEPOSITARY SHARES EACH REPRESENTING A 1/40TH INTEREST IN A SHARE OF 5.700% FIXED-TO-FLOATING RATE NON-CUMULATIVE PERPETU 7591EP704 284219.00000000 NS USD 6974734.26000000 1.486654071257 Long EP CORP US N 1 N N N Wells Fargo & Co. PBLD0EJDB5FWOLXP3B76 WFC V7.625 PERP 95002YAA1 5650000.00000000 PA USD 6032493.70000000 1.285816919272 Long DBT CORP US N 2 N/A Fixed 7.62500000 N N N N N N American Agcredit ACA 0002558989 AAGACA V5.25 PERP QIB 02369GAA3 4815000.00000000 PA USD 4779681.98000000 1.018781993693 Long DBT CORP US N 2 N/A Fixed 5.25000000 N N N N N N Vistra Corp 549300KP43CPCUJOOG15 VST V7 PERP 144A 92840MAC6 450000.00000000 PA USD 455669.10000000 0.097125180316 Long DBT CORP US N 2 N/A Fixed 7.00000000 N N N N N N Bank of Nova Scotia L3I9ZG2KFGXZ61BMYR72 BNS V6.875 10/27/85 06419GEE2 1905000.00000000 PA USD 1967788.80000000 0.419431210113 Long DBT CORP CA N 2 2085-10-27 Fixed 6.87500000 N N N N N N Dime Community Bancshares Inc. 0002487650 Dime Community Bancshares Inc. 5.50% FIXED-RATE NON-CUMULATIVE PERPETUAL PREFERRED STOCK, SERIES A 25432X201 91000.00000000 NS USD 1724450.00000000 0.367563912489 Long EP CORP US N 1 N N N Sempra PBBKGKLRK5S5C0Y4T545 SRE V6.875 10/01/54 816851BS7 1890000.00000000 PA USD 1948083.50000000 0.415231055186 Long DBT CORP US N 2 2054-10-01 Fixed 6.87500000 N N N N N N Dominion Energy Inc ILUL7B6Z54MRYCF6H308 D V4.35 PERP C 25746UDM8 1800000.00000000 PA USD 1792547.28000000 0.382078744851 Long DBT CORP US N 2 N/A Fixed 4.35000000 N N N N N N Global Atlantic Finance Co. 98450051B2E65CAA7E94 GBLATL V7.25 03/01/56 144A 37959GAH0 2250000.00000000 PA USD 2144856.51000000 0.457172925016 Long DBT CORP US N 2 2056-03-01 Fixed 7.25000000 N N N N N N Connectone Bancorp Inc. 549300E2M5ZYAZKUK134 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 20786W503 111900.00000000 NS USD 2743788.00000000 0.584834267344 Long EP CORP US N 1 N N N CNO Financial Group, Inc. 11XPYHB76MPM4Y4P2897 CNO Financial Group, Inc. 5.125% SUBORDINATED DEBENTURES DUE NOVEMBER 25, 2060 12621E301 38900.00000000 NS USD 755827.00000000 0.161103383273 Long EP CORP US N 1 N N N Arbor Realty Trust, Inc. 549300ASFUWYQO0RW077 Arbor Realty Trust, Inc. 6.25% SERIES F FIXED-TO-FLOATING RATE CUMULATIVE REDEEMABLE PREFERRED STOCK 038923850 162132.00000000 NS USD 3485838.00000000 0.743001103879 Long EP CORP US N 1 N N N Goldman Sachs Group, Inc. 784F5XWPLTWKTBV3E584 GS V7.5 PERP X 38141GA79 3740000.00000000 PA USD 3983380.50000000 0.849051536150 Long DBT CORP US N 2 N/A Fixed 7.50000000 N N N N N N Bank of Montreal NQQ6HPCNCCU6TUTQYE16 BMO V7.3 11/26/84 06368L5Q5 1150000.00000000 PA USD 1224973.10000000 0.261101165780 Long DBT CORP CA N 2 2084-11-26 Fixed 7.30000000 N N N N N N Capital One Financial Corp. ZUE8T73ROZOF6FLBAR73 COF V3.95 PERP M 14040HCF0 2750000.00000000 PA USD 2733269.28000000 0.582592218066 Long DBT CORP US N 2 N/A Fixed 3.95000000 N N N N N N Bank of Nova Scotia L3I9ZG2KFGXZ61BMYR72 BNS V8.625 10/27/82 0641598S8 2425000.00000000 PA USD 2564568.45000000 0.546633890996 Long DBT CORP CA N 2 2082-10-27 Fixed 8.62500000 N N N N N N Canadian Imperial Bank of Commerce 2IGI19DL77OX0HC3ZE78 CM V6.95 01/28/85 13607PNF7 1610000.00000000 PA USD 1666000.63000000 0.355105517569 Long DBT CORP CA N 2 2085-01-28 Fixed 6.95000000 N N N N N N BBVA MEXICO SA TEXAS BRANCH 549300WIWQK5Q9MCUN92 BBVASM V5.875 09/13/34 144A 05533UAG3 1500000.00000000 PA USD 1517644.62000000 0.323483658149 Long DBT CORP US N 2 2034-09-13 Fixed 5.87500000 N N N N N N Rogers Communications Inc. 5493000M6Z4XFIP6PF03 RCICN V7.125 04/15/55 775109DH1 1660000.00000000 PA USD 1758950.33000000 0.374917605711 Long DBT CORP CA N 2 2055-04-15 Fixed 7.12500000 N N N N N N Cobank ACB P0J8I7M2E0A77CKF1705 COBKAC V7.125 PERP M 19075QAG7 1250000.00000000 PA USD 1300708.75000000 0.277244105169 Long DBT USGSE US N 2 N/A Fixed 7.12500000 N N N N N N MetLife Inc. C4BXATY60WC6XEOZDX54 MET 10.75 08/01/39 59156RAV0 2606000.00000000 PA USD 3453356.54000000 0.736077729747 Long DBT CORP US N 2 2039-08-01 Fixed 10.75000000 N N N N N N Vodafone Group PLC 213800TB53ELEUKM7Q61 VOD V7 04/04/79 92857WBQ2 2125000.00000000 PA USD 2251214.38000000 0.479842944338 Long DBT CORP GB N 2 2079-04-04 Fixed 7.00000000 N N N N N N Banco Mercantil Del Norte SA Cayman Islands Branch N/A BANORT V8.75 PERP 144A 05971PAE8 2642000.00000000 PA USD 2911259.43000000 0.620530549660 Long DBT CORP KY N 2 N/A Fixed 8.75000000 N N N N N N Banco Santander SA 5493006QMFDDMYWIAM13 SANTAN V8 PERP 05964HBH7 3800000.00000000 PA USD 4206288.40000000 0.896564018303 Long DBT CORP ES N 2 N/A Fixed 8.00000000 N N N N N N Provident Financing Trust I N/A UNM 7.405 03/15/38 743863AA0 9836000.00000000 PA USD 10768123.88000000 2.295209338341 Long DBT CORP US N 2 2038-03-15 Fixed 7.40500000 N N N N N N Citigroup Inc. 6SHGI4ZSSLCXXQSBB395 C V7.125 PERP CC 172967PK1 2950000.00000000 PA USD 3057353.45000000 0.651670269329 Long DBT CORP US N 2 N/A Fixed 7.12500000 N N N N N N Standard Chartered PLC U4LOSYZ7YG4W3S5F2G91 STANLN V7.75 PERP 144a 853254CM0 5700000.00000000 PA USD 5933301.00000000 1.264674145111 Long DBT CORP GB N 2 N/A Fixed 7.75000000 N N N N Y Standard Chartered PLC Standard Chartered PLC ORD USD0.50 GBP XXXX N N N Entergy Corporation 4XM3TW50JULSLG8BNC79 ETR V6.1 06/15/56 29364GAS2 1535000.00000000 PA USD 1548260.87000000 0.330009465586 Long DBT CORP US N 2 2056-06-15 Fixed 6.10000000 N N N N N N SBL Holdings Inc. 635400MJW3QDSBJRKQ59 SECBEN V6.5 PERP 144A 78397DAC2 3500000.00000000 PA USD 3161634.46000000 0.673897609080 Long DBT CORP US N 2 N/A Fixed 6.50000000 N N N N N N Equitable Holdings Inc 549300FIBAKMNHPZ4009 EQH V6.7 03/28/55 29452EAD3 1480000.00000000 PA USD 1543543.80000000 0.329004029242 Long DBT CORP US N 2 2055-03-28 Fixed 6.70000000 N N N N N N Global Atlantic Finance Co. 98450051B2E65CAA7E94 GBLATL V7.95 10/15/54 144A 37959GAG2 1700000.00000000 PA USD 1628255.92000000 0.347060289651 Long DBT CORP US N 2 2054-10-15 Fixed 7.95000000 N N N N N N PNC Financial Services Group Inc. CFGNEKW0P8842LEUIA51 PNC V6.2 PERP V 693475BF1 1795000.00000000 PA USD 1828584.45000000 0.389760013198 Long DBT CORP US N 2 N/A Fixed 6.20000000 N N N N N N American Electric Power Co, Inc. 1B4S6S7G0TW5EE83BO58 AEP V6.05 03/15/56 D 02557TAF6 1550000.00000000 PA USD 1556068.25000000 0.331673596839 Long DBT CORP US N 2 2056-03-15 Fixed 6.05000000 N N N N N N PartnerRe Ltd. 7LLHQS68KCIGNZBR7918 PartnerRe Ltd. 4.875% FXD RTE NON CUM RED PFD SHS SR J 000000000 149976.00000000 NS USD 2576587.68000000 0.549195771714 Long EP CORP BM N 2 N N N Societe Generale S.A. O2RNE8IBXP4R0TD8PU41 SOCGEN V5.375 PERP 144a 83370RAA6 2300000.00000000 PA USD 2235445.67000000 0.476481867623 Long DBT CORP FR N 2 N/A Fixed 5.37500000 N N N N N N Wells Fargo & Co. PBLD0EJDB5FWOLXP3B76 Wells Fargo & Co. 7.5% NON-CUMULATIVE PERPETUAL CONVERTIBLE CLASS A PREFERRED STOCK, SERIES L 949746804 759.00000000 NS USD 935080.41000000 0.199310976828 Long EP CORP US N 1 N N N Arch Capital Group Ltd. 549300AYR4P8AFKDCE43 Arch Capital Group Ltd. DEPOSITARY SHARES EACH REPRESENTING 1/1,000 TH INTEREST IN A SHARE OF5.45 % NON-CUMULATIVE PREFERRED SHARES, SERIES F 03939A107 26109.00000000 NS USD 542806.11000000 0.115698302365 Long EP CORP BM N 1 N N N CVS Health Corp 549300EJG376EN5NQE29 CVS V7 03/10/55 126650EH9 1560000.00000000 PA USD 1641758.04000000 0.349938246132 Long DBT CORP US N 2 2055-03-10 Fixed 7.00000000 N N N N N N AERCAP IRELAND CAPITAL DAC 549300TI38531ODB1G63 AER V6.95 03/10/55 00774MBK0 2780000.00000000 PA USD 2939042.38000000 0.626452443483 Long DBT CORP IE N 2 2055-03-10 Fixed 6.95000000 N N N N N N Everest Reinsurance Holdings, Inc. 254900P29PM5UJR3VU91 RE V0 05/15/37 299808AE5 754000.00000000 PA USD 726723.22000000 0.154899956531 Long DBT CORP US N 2 2037-05-15 Floating 6.29914000 N N N N N N Southern Co. 549300FC3G3YU2FBZD92 SO V6.375 03/15/55 2025 842587EB9 950000.00000000 PA USD 994254.80000000 0.211923908666 Long DBT CORP US N 2 2055-03-15 Fixed 6.37500000 N N N N N N Energy Transfer LP MTLVN9N7JE8MIBIJ1H73 ET V6.75 02/15/56 29273VBH2 1450000.00000000 PA USD 1482785.95000000 0.316053585297 Long DBT CORP US N 2 2056-02-15 Fixed 6.75000000 N N N N N N Citizens Financial Group Inc 2138004JDDA4ZQUPFW65 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 174610808 79000.00000000 NS USD 2015290.00000000 0.429556019137 Long EP CORP US N 1 N N N DTE Energy Co. 549300IX8SD6XXD71I78 DTE Energy Co. 6.250% JUNIOR SUBORDINATED DEBENTURES DUE ON OCTOBER 1, 2085 233331792 75000.00000000 NS USD 1878750.00000000 0.400452724398 Long EP CORP US N 1 N N N KeyCorp RKPI3RZGV1V1FJTH5T61 KeyCorp DEPOSITARY SHARES EACH REPRESENTING A 1/40TH OWNERSHIP INTEREST IN A SHARE OF FIXED-TO-FLOATING RATE PERPETUAL NON-CUMULATIVE PREFERRED STOCK, 493267702 265788.00000000 NS USD 6721778.52000000 1.432736937399 Long EP CORP US N 1 N N N Citizens Financial Group Inc 2138004JDDA4ZQUPFW65 Citizens Financial Group Inc DEPOSITARY SHARES, EACH REPRESENTING A 1/40TH INTEREST IN A SHARE OF 7.375% FIXED-RATE NON-CUMULATIVE PERPETUAL PREFERRED 174610600 85100.00000000 NS USD 2233875.00000000 0.476147081685 Long EP CORP US N 1 N N N Affiliated Managers Group, Inc. 2JE75BUE3T1BLCYYGK54 Affiliated Managers Group, Inc. FIXED JUNIOR SUBORDINATED NOTES DUE MARCH 30, 2064 008252827 70000.00000000 NS USD 1725500.00000000 0.367787718403 Long EP CORP US N 1 N N N M&T Bank Corporation 549300WYXDDBYRASEG81 M&T Bank Corporation DEPOSITARY SHARES EACH REPRESENTING A 1/400TH INTEREST IN A SHARE OF PERPETUAL 6.350% NON-CUMULATIVE PREFERRED STOCK, SERIES K 55261F849 67200.00000000 NS USD 1693440.00000000 0.360954177834 Long EP CORP US N 1 N N N FMC Corp. CKDHZ2X64EEBQCSP7013 FMC V8.45 11/01/55 302491AZ8 2300000.00000000 PA USD 1514711.92000000 0.322858557574 Long DBT CORP US N 2 2055-11-01 Fixed 8.45000000 N N N N N N American Electric Power Co, Inc. 1B4S6S7G0TW5EE83BO58 AEP V6.95 12/15/54 025537BA8 2915000.00000000 PA USD 3151403.59000000 0.671716914595 Long DBT CORP US N 2 2054-12-15 Fixed 6.95000000 N N N N N N First Citizens BancShares Inc (Delaware) 549300N3Z00ZHE2XC526 FCNCA V7 PERP D 31959XAG8 2765000.00000000 PA USD 2848655.08000000 0.607186527030 Long DBT CORP US N 2 N/A Fixed 7.00000000 N N N N N N Citigroup Inc. 6SHGI4ZSSLCXXQSBB395 C V6.625 PERP 172967QJ3 1865000.00000000 PA USD 1929204.75000000 0.411207078142 Long DBT CORP US N 2 N/A Fixed 6.62500000 N N N N N N Standard Chartered PLC U4LOSYZ7YG4W3S5F2G91 STANLN V4.75 PERP 144A 853254BX7 1100000.00000000 PA USD 1050277.91000000 0.223865149932 Long DBT CORP GB N 2 N/A Fixed 4.75000000 N N N N Y Standard Chartered PLC Standard Chartered PLC ORD USD0.50 GBP XXXX N N N BlackRock Liquidity Funds 5493007YVNX55LTRQ706 BlackRock Liquidity Funds T FUND INSTL SHS 09248U718 8815223.42000000 PA USD 8815223.42000000 1.878951555408 Long STIV RF US N 1 N N N Barclays PLC 213800LBQA1Y9L22JB70 BACR V4.375 PERP 06738EBT1 1075000.00000000 PA USD 1047875.17000000 0.223353009531 Long DBT CORP GB N 2 N/A Fixed 4.37500000 N N N N N N Capital One Financial Corp. ZUE8T73ROZOF6FLBAR73 Capital One Financial Corp. DEPOSITARY SHARES EACH REPRESENTING A 1/40TH INTEREST IN A SHARE OF FIXED RATE NON-CUMULATIVE PERPETUAL PREFERRED STOCK, S 14040H824 28163.00000000 NS USD 553121.32000000 0.117896973794 Long EP CORP US N 1 N N N Delphi Financial Group, Inc. 5493001NGT0EEYMZG011 Delphi Financial Group, Inc. 7.376% FIXED TO FLOAT RATE JUNIOR SUBORDINATED DEBENTURES DUE 2067 247131303 358465.00000000 NS USD 8647968.13000000 1.843301343006 Long EP CORP US N 2 N N N PNC Financial Services Group Inc. CFGNEKW0P8842LEUIA51 PNC V3.4 PERP T 693475BC8 950000.00000000 PA USD 939519.89000000 0.200257245284 Long DBT CORP US N 2 N/A Fixed 3.40000000 N N N N N N The Toronto-Dominion Bank PT3QB789TSUIDF371261 TD V7.25 07/31/84 89116CKP1 1150000.00000000 PA USD 1203149.55000000 0.256449509065 Long DBT CORP CA N 2 2084-07-31 Fixed 7.25000000 N N N N N N Fifth Third Bancorp THRNG6BD57P9QWTQLG42 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 316773886 78802.00000000 NS USD 1927496.92000000 0.410843056758 Long EP CORP US N 1 N N N Banco Santander SA 5493006QMFDDMYWIAM13 SANTAN V9.625 PERP _ 05971KAQ2 3800000.00000000 PA USD 4583788.00000000 0.977027487779 Long DBT CORP ES N 2 N/A Fixed 9.62500000 N N N N N N M&T Bank Corporation 549300WYXDDBYRASEG81 M&T Bank Corporation PERPETUAL FIXED-TO-FLOATING RATE NON-CUMULATIVE PREFERRED STOCK, SERIES H 55261F872 61466.00000000 NS USD 1551401.84000000 0.330678958597 Long EP CORP US N 1 N N N NiSource Inc. 549300D8GOWWH0SJB189 NI V6.95 11/30/54 65473PAR6 1740000.00000000 PA USD 1820214.00000000 0.387975864425 Long DBT CORP US N 2 2054-11-30 Fixed 6.95000000 N N N N N N Valley National Bancorp. 549300ET52S1UBIB9762 Valley National Bancorp. 6.25% FIXED-TO-FLOATING RATE NON-CUMULATIVE PERPETUAL PREFERRED STOCK, SERIES A 919794206 45126.00000000 NS USD 1132662.60000000 0.241425322152 Long EP CORP US N 1 N N N NextEra Energy Capital Holdings Inc UMI46YPGBLUE4VGNNT48 NEE V6.7 09/01/54 65339KCW8 1178000.00000000 PA USD 1223896.06000000 0.260871596331 Long DBT CORP US N 2 2054-09-01 Fixed 6.70000000 N N N N N N Bell Canada 5493000G3EFX9S7TDE29 BCECN V7 09/15/55 0778FPAQ2 2200000.00000000 PA USD 2329665.80000000 0.496564746000 Long DBT CORP CA N 2 2055-09-15 Fixed 7.00000000 N N N N N N Enstar Group Ltd 213800AMAL5QFXVUCN04 Enstar Group Ltd 7.00% FIXED-TO-FLOATING RATE SERIES D PERPETUAL PREFERRED SHARES 29359U109 141000.00000000 NS USD 3193650.00000000 0.680721673067 Long EP CORP BM N 1 N N N SCE Trust VII N/A SCE Trust VII 7.50% TRUST PREFERENCE SECURITIES 783892201 98507.00000000 NS USD 2462675.00000000 0.524915456052 Long EP CORP US N 1 N N N Royal Bank of Canada ES7IP3U3RHIGC71XBU11 RY V6.5 11/24/85 780082AY9 2200000.00000000 PA USD 2199167.74000000 0.468749281646 Long DBT CORP CA N 2 2085-11-24 Fixed 6.50000000 N N N N N N American Express Company R4PP93JZOLY261QX3811 AXP V3.55 PERP 025816CH0 1850000.00000000 PA USD 1839793.92000000 0.392149294795 Long DBT CORP US N 2 N/A Fixed 3.55000000 N N N N N N JPMorgan Chase & Co. 8I5DZWZKVSZI1NUHU748 JPM V6.875 PERP NN 48128BAQ4 3800000.00000000 PA USD 4045920.80000000 0.862381906619 Long DBT CORP US N 2 N/A Fixed 6.87500000 N N N N N N CMS Energy Corporation 549300IA9XFBAGNIBW29 CMS V6.5 06/01/55 125896BY5 1120000.00000000 PA USD 1171024.96000000 0.249602201235 Long DBT CORP US N 2 2055-06-01 Fixed 6.50000000 N N N N N N Banco Mercantil Del Norte SA Cayman Islands Branch N/A BANORT V7.5 PERP 144A 05971PAB4 1712000.00000000 PA USD 1769184.22000000 0.377098943905 Long DBT CORP KY N 2 N/A Fixed 7.50000000 N N N N N N Western Alliance Bancorp 5493003VJXZ5JXT9S762 Western Alliance Bancorp DEPOSITARY SHARES EACH REPRESENTING A 1/400TH INTEREST IN A SHARE OF 4.250% FIXED-RATE RESET NON-CUMULATIVE PERPETUAL PREFERR 957638406 59000.00000000 NS USD 1372340.00000000 0.292512197898 Long EP CORP US N 1 N N N Flagstar Bank National Association SS1TRMSN6BRNMOREEV51 Flagstar Bank National Association DEPOSITARY SHARES, EACH REPRESENTING A 1/40TH INTEREST IN A SHARE OF WFIXED-TO-FLOATING RATE SERIES A NONCUMULATIVE 649445202 565254.00000000 NS USD 12842570.88000000 2.737374582664 Long EP CORP US N 1 N N N Texas Capital Bancshares, Inc. 549300466Q2SXRX0YM48 Texas Capital Bancshares, Inc. DEPOSITARY SHARES, EACH REPRESENTING A 1/40TH INTEREST IN A SHARE OF 5.75% FIXED RATE NON-CUMULATIVE PERPETUAL PREFERRE 88224Q305 83500.00000000 NS USD 1867060.00000000 0.397961018558 Long EP CORP US N 1 N N N PNC Financial Services Group Inc. CFGNEKW0P8842LEUIA51 PNC V6 PERP U 693475BD6 10769000.00000000 PA USD 10864424.11000000 2.315735586892 Long DBT CORP US N 2 N/A Fixed 6.00000000 N N N N N N Athene Holding Ltd 549300H316CT32FQXI76 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 04686J408 66800.00000000 NS USD 1122240.00000000 0.239203760707 Long EP CORP US N 1 N N N Morgan Stanley IGJSJL3JD5P30I6NJZ34 MS V0 PERP N 61745VAB9 800000.00000000 PA USD 806140.00000000 0.171827523218 Long DBT CORP US N 2 N/A Floating 7.14481000 N N N N N N EUSHI Finance Inc. N/A EMACN V7.625 12/15/54 29882DAB9 3475000.00000000 PA USD 3670955.25000000 0.782458566072 Long DBT CORP US N 2 2054-12-15 Fixed 7.62500000 N N N N N N Morgan Stanley IGJSJL3JD5P30I6NJZ34 Morgan Stanley DEPOSITARY SHARES EACH REPRESENTING 1/1,000 TH OF A SHARE OF FIXED-TO-FLOATING RATE NON-CUMULATIVE PREFERRED STOCK, SERIES K 61762V606 177361.00000000 NS USD 4403873.63000000 0.938679011598 Long EP CORP US N 1 N N N Bank of America Corp. 9DJT3UXIJIZJI4WXO774 BAC V6.125 PERP TT 06055HAB9 5045000.00000000 PA USD 5115912.52000000 1.090449025373 Long DBT CORP US N 2 N/A Fixed 6.12500000 N N N N N N BANCO MERCANTIL DEL NORTE SA CAYMAN ISLANDS BRANCH 549300QTVYRPFHS0J362 BANORT V6.625 PERP 144A 05973KAB3 1900000.00000000 PA USD 1887875.91000000 0.402397898329 Long DBT CORP KY N 2 N/A Fixed 6.62500000 N N N N N N AES Corp. 2NUNNB7D43COUIRE5295 AES V7.6 01/15/55 00130HCK9 2305000.00000000 PA USD 2318756.24000000 0.494239389766 Long DBT CORP US N 2 2055-01-15 Fixed 7.60000000 N N N N N N Reinsurance Group of America, Incorporated LORM1GNEU1DKEW527V90 Reinsurance Group of America, Incorporated 7.125% FIXED-RATE RESET SUBORDINATED DEBENTURES DUE OCTOBER 15, 2052 759351885 129350.00000000 NS USD 3311360.00000000 0.705811381751 Long EP CORP US N 1 N N N Societe Generale S.A. O2RNE8IBXP4R0TD8PU41 SOCGEN V6.75 PERP 144A 83367TBU2 300000.00000000 PA USD 305298.60000000 0.065073935395 Long DBT CORP FR N 2 N/A Fixed 6.75000000 N N N N N N HSBC Holdings PLC MLU0ZO3ML4LN2LL2TL39 HSBC V7.05 PERP 404280FA2 1520000.00000000 PA USD 1584016.78000000 0.337630783789 Long DBT CORP GB N 2 N/A Fixed 7.05000000 N N N N Y HSBC Holdings PLC HSBC Holdings PLC GBP XXXX N N N Bank of Montreal NQQ6HPCNCCU6TUTQYE16 BMO V7.7 05/26/84 06368LQ58 2210000.00000000 PA USD 2342036.45000000 0.499201531360 Long DBT CORP CA N 2 2084-05-26 Fixed 7.70000000 N N N N N N Altagas Ltd 2549008X5V70MOS4HM10 ALACN V7.2 10/15/54 144A 021361AD2 1565000.00000000 PA USD 1635858.51000000 0.348680770225 Long DBT CORP CA N 2 2054-10-15 Fixed 7.20000000 N N N N N N Universal Insurance Holdings Inc 529900GGAZ6WVUCWQM46 UVE 5.625 11/30/26 91359VAC1 1175000.00000000 PA USD 1163550.72000000 0.248009078270 Long DBT CORP US N 2 2026-11-30 Fixed 5.62500000 N N N N N N BNP Paribas SA R0MUWSFPU8MPRO8K5P83 BNP V4.625 PERP 144A 05565ASK0 1125000.00000000 PA USD 1045322.44000000 0.222808898987 Long DBT CORP FR N 2 N/A Fixed 4.62500000 N N N N N N Barclays PLC 213800LBQA1Y9L22JB70 BACR V8 PERP 06738EBX2 1140000.00000000 PA USD 1216506.83000000 0.259296593119 Long DBT CORP GB N 2 N/A Fixed 8.00000000 N N N N Y Barclays PLC Barclays PLC ORD GBP0.25 GBP XXXX N N N Enbridge Inc. 98TPTUM4IVMFCZBCUR27 ENBCN V8.5 01/15/84 29250NBT1 2320000.00000000 PA USD 2678611.68000000 0.570942033193 Long DBT CORP CA N 2 2084-01-15 Fixed 8.50000000 N N N N N N American International Group Inc. ODVCVCQG2BP6VHV36M30 AIG V8.175 05/15/58 026874BS5 5340000.00000000 PA USD 5981478.18000000 1.274943038250 Long DBT CORP US N 2 2058-05-15 Fixed 8.17500000 N N N N N N UBS Group AG 549300SZJ9VS8SGXAN81 UBS V4.875 PERP 144A 902613AJ7 1970000.00000000 PA USD 1962940.51000000 0.418397804424 Long DBT CORP CH N 2 N/A Fixed 4.87500000 N N N N N N Lloyds Banking Group PLC 549300PPXHEU2JF0AM85 LLOYDS V8 PERP 53944YAV5 15690000.00000000 PA USD 17055328.11000000 3.635317422310 Long DBT CORP GB N 2 N/A Fixed 8.00000000 N N N N Y Lloyds Banking Group PLC Lloyds Banking Group PLC SPONSORED ADR USD XXXX N N N Banco Bilbao Vizcaya Argentaria SA K8MS7FD7N5Z2WQ51AZ71 BBVASM V6.125 PERP 05946KAF8 7000000.00000000 PA USD 7089103.00000000 1.511031595419 Long DBT CORP ES N 2 N/A Fixed 6.12500000 N N N N Y Banco Bilbao Vizcaya Argentaria SA Banco Bilbao Vizcaya Argentaria SA EUR0.49 EUR XXXX N N N Athene Holding Ltd 549300H316CT32FQXI76 Athene Holding Ltd 6.35%DEP 1/1000TH PERP NON CUM PFD SER A 04686J861 288100.00000000 NS USD 7023878.00000000 1.497128985200 Long EP CORP US N 1 N N N Fortegra Group Inc N/A FRF V9.25 11/15/64 144A 34962TAA9 1370000.00000000 PA USD 1363006.15000000 0.290522701870 Long DBT CORP US N 2 2064-11-15 Fixed 9.25000000 N N N N N N Arbor Realty Trust, Inc. 549300ASFUWYQO0RW077 Arbor Realty Trust, Inc. 6.375% SERIES D CUMULATIVE REDEEMABLE PREFERRED STOCK 038923876 29258.00000000 NS USD 502359.86000000 0.107077245277 Long EP CORP US N 1 N N N Lincoln National Corp. EFQMQROEDSNBRIP7LE47 LNC V9.25 PERP C 534187BR9 1250000.00000000 PA USD 1336482.50000000 0.284869225940 Long DBT CORP US N 2 N/A Fixed 9.25000000 N N N N N N Emera Inc NQZVQT2P5IUF2PGA1Q48 EMACN V6.75 06/15/76 16-A 290876AD3 6830000.00000000 PA USD 6892678.91000000 1.469164097360 Long DBT CORP CA N 2 2076-06-15 Fixed 6.75000000 N N N N N N Enbridge Inc. 98TPTUM4IVMFCZBCUR27 ENBCN V7.375 03/15/55 29250NCG8 4920000.00000000 PA USD 5265762.84000000 1.122389394712 Long DBT CORP CA N 2 2055-03-15 Fixed 7.37500000 N N N N N N Algonquin Power & Utilities Corporation 549300K5VIUTJXQL7X75 AQNCN V4.75 01/18/82 015857AH8 3200000.00000000 PA USD 3175599.04000000 0.676874138212 Long DBT CORP CA N 2 2082-01-18 Fixed 4.75000000 N N N N N N Bank of Montreal NQQ6HPCNCCU6TUTQYE16 BMO V6.875 11/26/85 6 06368L8V1 5850000.00000000 PA USD 6038288.10000000 1.287051986879 Long DBT CORP CA N 2 2085-11-26 Fixed 6.87500000 N N N N N N Canadian Imperial Bank of Commerce 2IGI19DL77OX0HC3ZE78 CM V7 10/28/85 13607P7Y4 1915000.00000000 PA USD 1992687.72000000 0.424738377298 Long DBT CORP CA N 2 2085-10-28 Fixed 7.00000000 N N N N N N First Citizens BancShares Inc (Delaware) 549300N3Z00ZHE2XC526 First Citizens BancShares Inc (Delaware) DEPOSITARY SHARES, EACH REPRESENTING A 1/40TH INTEREST IN A SHARE OF 5.375% NON-CUMULATIVE PERPETUAL PREFERRE 319626305 45359.00000000 NS USD 977032.86000000 0.208253078171 Long EP CORP US N 1 N N N Valley National Bancorp. 549300ET52S1UBIB9762 Valley National Bancorp. 8.250% FIXED-RATE RESET NON-CUMULATIVE PERPETUAL PREFERRED STOCK SERIES C 919794404 36872.00000000 NS USD 958672.00000000 0.204339488598 Long EP CORP US N 1 N N N Entergy Corporation 4XM3TW50JULSLG8BNC79 ETR V7.125 12/01/54 29364GAQ6 3190000.00000000 PA USD 3339930.00000000 0.711901034092 Long DBT CORP US N 2 2054-12-01 Fixed 7.12500000 N N N N N N Jackson Financial Inc 213800WXW2KG1N4CO374 Jackson Financial Inc DEPOSITARY SHARES, EACH REPRESENTING A 1/1,000TH INTEREST IN A SHARE OF FIXED-RATE RESET NONCUMULATIVE PERPETUAL PREFERRED STOCK 46817M206 37200.00000000 NS USD 961620.00000000 0.204967850345 Long EP CORP US N 1 N N N PacifiCorp. SGY07Y7FNYBNLM6Z1M11 BRKHEC V7.125 08/15/56 695114DG0 1950000.00000000 PA USD 1916987.46000000 0.408602981235 Long DBT CORP US N 2 2056-08-15 Fixed 7.12500000 N N N N N N Dominion Energy Inc ILUL7B6Z54MRYCF6H308 D V7 06/01/54 B 25746UDU0 3885000.00000000 PA USD 4229370.29000000 0.901483888288 Long DBT CORP US N 2 2054-06-01 Fixed 7.00000000 N N N N N N Enstar Group Ltd 213800AMAL5QFXVUCN04 ESGR V7.5 04/01/45 144A 29359UAD1 1300000.00000000 PA USD 1359341.10000000 0.289741501999 Long DBT CORP BM N 2 2045-04-01 Fixed 7.50000000 N N N N N N ING Groep N.V. 549300NYKK9MWM7GGW15 INTNED V3.875 PERP 456837AY9 1825000.00000000 PA USD 1787597.90000000 0.381023791981 Long DBT CORP NL N 2 N/A Fixed 3.87500000 N N N N N N Banco Santander SA 5493006QMFDDMYWIAM13 SANTAN V4.75 PERP 0000 05971KAH2 7800000.00000000 PA USD 7797267.66000000 1.661975822921 Long DBT CORP ES N 2 N/A Fixed 4.75000000 N N N N N N NatWest Group PLC 2138005O9XJIJN4JPN90 NWG V8.125 PERP 639057AQ1 670000.00000000 PA USD 755891.99000000 0.161117235793 Long DBT CORP GB N 2 N/A Fixed 8.12500000 N N N N N N Morgan Stanley IGJSJL3JD5P30I6NJZ34 Morgan Stanley DEPOSITARY SHARES OF MONGAN STANLEY, EACH REPRESENTING A 1/1000TH INTEREST IN A FIXED-TO-FLOATING RATE NON-CUMULATIVE PREFERRED STOCK, 61763E207 674994.00000000 NS USD 17131347.72000000 3.651520887343 Long EP CORP US N 1 N N N Citigroup Inc. 6SHGI4ZSSLCXXQSBB395 C V7.625 PERP AA 172967PE5 9725000.00000000 PA USD 10312574.78000000 2.198109735844 Long DBT CORP US N 2 N/A Fixed 7.62500000 N N N N N N Energy Transfer LP MTLVN9N7JE8MIBIJ1H73 ET V8 05/15/54 29273VAX8 2550000.00000000 PA USD 2737460.70000000 0.583485612907 Long DBT CORP US N 2 2054-05-15 Fixed 8.00000000 N N N N N N KeyCorp RKPI3RZGV1V1FJTH5T61 KeyCorp DEPOSITARY SHARES EACH REPRESENTING A 1/40TH OWNERSHIP INTEREST IN A SHARE OF 6.200% FIXED-RATE RESET PERPETUAL NON-CUMULATIVE PREFERRED STOCK 493267843 198300.00000000 NS USD 5076480.00000000 1.082044043303 Long EP CORP US N 1 N N N Prudential Financial, Inc. 5PRBRS5FEH7NREC8OR45 PRU V6.75 03/01/53 744320BL5 940000.00000000 PA USD 1009564.70000000 0.215187190723 Long DBT CORP US N 2 2053-03-01 Fixed 6.75000000 N N N N N N TransCanada Trust 549300Y0MFCAXLBWUV51 TRPCN V5.5 09/15/79 89356BAE8 3254000.00000000 PA USD 3296855.18000000 0.702719701279 Long DBT CORP CA N 2 2079-09-15 Fixed 5.50000000 N N N N N N Compeer Financial, ACA 54930020HTACTODKHT04 CMPFIN V7.875 PERP QIB 20453QAC6 975000.00000000 PA USD 1006185.38000000 0.214466893770 Long DBT CORP US N 2 N/A Fixed 7.87500000 N N N N N N KeyCorp RKPI3RZGV1V1FJTH5T61 KEY V5 PERP D 493267AK4 650000.00000000 PA USD 648566.82000000 0.138241037936 Long DBT CORP US N 2 N/A Fixed 5.00000000 N N N N N N Lincoln National Corp. EFQMQROEDSNBRIP7LE47 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 534187885 50100.00000000 NS USD 1323642.00000000 0.282132292763 Long EP CORP US N 1 N N N Dominion Energy Inc ILUL7B6Z54MRYCF6H308 D V6.625 05/15/55 25746UDV8 2515000.00000000 PA USD 2611882.83000000 0.556718879618 Long DBT CORP US N 2 2055-05-15 Fixed 6.62500000 N N N N N N Exelon Corp. 3SOUA6IRML7435B56G12 EXC V6.5 03/15/55 30161NBQ3 1120000.00000000 PA USD 1172653.06000000 0.249949228290 Long DBT CORP US N 2 2055-03-15 Fixed 6.50000000 N N N N N N General Motors Financial Company Inc 5493008B6JBRUJ90QL97 GM V5.7 PERP C 37045XDB9 1875000.00000000 PA USD 1893661.88000000 0.403631169094 Long DBT CORP US N 2 N/A Fixed 5.70000000 N N N N N N Athene Holding Ltd 549300H316CT32FQXI76 Athene Holding Ltd JUNIOR SUBORDINATED DEBENTURES DUE ON MARCH 30, 2064 04686J838 90680.00000000 NS USD 2276068.00000000 0.485140455897 Long EP CORP US N 1 N N N Citigroup Inc. 6SHGI4ZSSLCXXQSBB395 C V6.75 PERP EE 172967PR6 4100000.00000000 PA USD 4197313.50000000 0.894651031925 Long DBT CORP US N 2 N/A Fixed 6.75000000 N N N N N N Huntington Bancshares Incorporated 549300XTVCVV9I7B5T19 Huntington Bancshares Incorporated DEPOSITARY SHS EACH REPRESENTING A 1/1000TH INTEREST IN A SHARE OF 5.50% NON-CUMULATIVE PERPETUAL PREF STK SER L 446150757 57777.00000000 NS USD 1243361.04000000 0.265020527414 Long EP CORP US N 1 N N N Corebridge Financial Inc. 549300XY1661QCIA7J65 CRBG V6.875 PERP 21871XAU3 1310000.00000000 PA USD 1344379.64000000 0.286552489402 Long DBT CORP US N 2 N/A Fixed 6.87500000 N N N N N N HSBC Holdings PLC MLU0ZO3ML4LN2LL2TL39 HSBC V6.5 PERP 404280BP3 9025000.00000000 PA USD 9226124.38000000 1.966534474311 Long DBT CORP GB N 2 N/A Fixed 6.50000000 N N N N N N Regions Financial Corporation CW05CS5KW59QTC0DG824 Regions Financial Corporation DEPOSITARY SHARES EACH REPRESENTING A 1/40TH INTEREST IN A SHARE OFNON-CUMULATIVE PERPETUAL PREFERRED STOCK, SERIES F 7591EP860 134000.00000000 NS USD 3470600.00000000 0.739753147198 Long EP CORP US N 1 N N N Reinsurance Group of America, Incorporated LORM1GNEU1DKEW527V90 RGA V6.375 09/15/56 759351AV1 1015000.00000000 PA USD 1016378.32000000 0.216639503533 Long DBT CORP US N 2 2056-09-15 Fixed 6.37500000 N N N N N N Axis Specialty Finance LLC N/A AXS V4.9 01/15/40 05463HAC5 2045000.00000000 PA USD 2015219.48000000 0.429540987905 Long DBT CORP US N 2 2040-01-15 Fixed 4.90000000 N N N N N N Wells Fargo & Co. PBLD0EJDB5FWOLXP3B76 Wells Fargo & Co. DEPOSITARY SHARES, EACH REPRESENTING A 1/1,000TH INTEREST IN A SHARE OF NON-CUMULATIVE PERPETUAL CLASS A PREFERRED STOCK, SERIES DD 95002Y400 41356.00000000 NS USD 740685.96000000 0.157876093469 Long EP CORP US N 1 N N N Synchrony Financial 549300RS7EWPM9MA6C78 Synchrony Financial DEPOSITARY SHARES EACH REPRESENTING A 1/40TH INTEREST IN A SHARE OF 5.625% FIXED RATE NON-CUMULATIVE PERPETUAL PREFERRED STOCK, SE 87165B202 130000.00000000 NS USD 2566200.00000000 0.546981653414 Long EP CORP US N 1 N N N Enstar Finance Llc N/A ESGR V5.5 01/15/42 29360AAB6 1690000.00000000 PA USD 1679438.85000000 0.357969853862 Long DBT CORP US N 2 2042-01-15 Fixed 5.50000000 N N N N N N Energy Transfer LP MTLVN9N7JE8MIBIJ1H73 ET V7.125 PERP G 29273VAM2 5660000.00000000 PA USD 5875793.16000000 1.252416435888 Long DBT CORP US N 2 N/A Fixed 7.12500000 N N N N N N Citigroup Inc. 6SHGI4ZSSLCXXQSBB395 C V6.95 PERP FF 17327CAV5 1870000.00000000 PA USD 1926962.07000000 0.410729054288 Long DBT CORP US N 2 N/A Fixed 6.95000000 N N N N N N Eversource Energy SJ7XXD41SQU3ZNWUJ746 ES V6.35 08/15/56 B 30040WBD9 865000.00000000 PA USD 870842.92000000 0.185618852874 Long DBT CORP US N 2 2056-08-15 Fixed 6.35000000 N N N N N N Goldman Sachs Group, Inc. 784F5XWPLTWKTBV3E584 GS V6.125 PERP Y 38141GB52 1875000.00000000 PA USD 1932988.13000000 0.412013499874 Long DBT CORP US N 2 N/A Fixed 6.12500000 N N N N N N Banco Mercantil Del Norte SA Cayman Islands Branch N/A BANORT V7.625 PERP 144A 05962GAJ8 1660000.00000000 PA USD 1708601.48000000 0.364185824392 Long DBT CORP KY N 2 N/A Fixed 7.62500000 N N N N N N Liberty Mutual Group, Inc. QUR0DG15Z6FFGYCHH861 LIBMUT 7.8 03/15/37 144A 53079EAN4 20983000.00000000 PA USD 24325305.48000000 5.184902116460 Long DBT CORP US N 2 2037-03-15 Fixed 7.80000000 N N N N N N Adamas Trust Inc. 549300JFGR0M7ULHWG48 Adamas Trust Inc. 6.875% SERIES F FIXED-TO-FLOATING RATE CUMULATIVE REDEEMABLE PREFERRED STOCK 649604865 70000.00000000 NS USD 1663200.00000000 0.354508567515 Long EP CORP US N 1 N N N Carlyle Finance LLC N/A Carlyle Finance LLC CARLYLE FINANCE L.L.C. 4.625% SUBORDINATED NOTES DUE MAY 15, 2061 14314C105 35800.00000000 NS USD 629722.00000000 0.134224293021 Long EP CORP US N 1 N N N NatWest Group PLC 2138005O9XJIJN4JPN90 NWG V4.6 PERP .*. 639057AD0 950000.00000000 PA USD 884984.47000000 0.188633102894 Long DBT CORP GB N 2 N/A Fixed 4.60000000 N N N N Y NatWest Group PLC NatWest Group PLC ORD GBP1.0769 GBP XXXX N N N Goldman Sachs Group, Inc. 784F5XWPLTWKTBV3E584 GS V7.5 PERP W 38141GA38 955000.00000000 PA USD 1021534.85000000 0.217738610113 Long DBT CORP US N 2 N/A Fixed 7.50000000 N N N N N N Huntington Bancshares Incorporated 549300XTVCVV9I7B5T19 Huntington Bancshares Incorporated DEPOSITARY SHARES, EACH REPRESENTING A 1/40TH INTEREST IN A SHARE OF 6.875% SERIES J NON-CUMULATIVE PERPETUAL PREFE 446150773 102200.00000000 NS USD 2626540.00000000 0.559843033262 Long EP CORP US N 1 N N N Citigroup Inc. 6SHGI4ZSSLCXXQSBB395 C V7.375 PERP Z 172967PC9 3000000.00000000 PA USD 3131376.84000000 0.667448243085 Long DBT CORP US N 2 N/A Fixed 7.37500000 N N N N N N Duke Energy Corp I1BZKREC126H0VB1BL91 DUK V6.45 09/01/54 26441CCG8 2830000.00000000 PA USD 2983018.10000000 0.635825801770 Long DBT CORP US N 2 2054-09-01 Fixed 6.45000000 N N N N N N Spire Inc 549300NXSY15DRY2R511 SR V6.45 06/01/56 84857LAE1 1575000.00000000 PA USD 1609404.30000000 0.343042095326 Long DBT CORP US N 2 2056-06-01 Fixed 6.45000000 N N N N N N BNP Paribas SA R0MUWSFPU8MPRO8K5P83 BNP V9.25 PERP 144A 05565AS20 1300000.00000000 PA USD 1389681.80000000 0.296208576371 Long DBT CORP FR N 2 N/A Fixed 9.25000000 N N N N N N Apollo Global Management Inc 254900LMFT1CY9IYB476 Apollo Global Management Inc FIXED-RATE RESETTABLE JUNIOR SUBORDINATED NOTES DUE 9/15/2053 03769M205 112920.00000000 NS USD 2899785.60000000 0.618084920129 Long EP CORP US N 1 N N N Credit Agricole S.A. 969500TJ5KRTCJQWXH05 ACAFP V4.75 PERP 144A 225313AP0 1130000.00000000 PA USD 1108029.64000000 0.236174843940 Long DBT CORP FR N 2 N/A Fixed 4.75000000 N N N N N N South Bow Canadian Infrastructure Holdings Ltd. 2549004FYUSYLPBT1G26 SOBOCN V7.5 03/01/55 836720AJ1 1610000.00000000 PA USD 1709865.08000000 0.364455158823 Long DBT CORP CA N 2 2055-03-01 Fixed 7.50000000 N N N N N N Voya Financial Inc 549300T065Z4KJ686G75 Voya Financial Inc DEP SHS REP 1/40TH NON CUM 929089209 77000.00000000 NS USD 1853390.00000000 0.395047278708 Long EP CORP US N 1 N N N 2026-04-23 Flaherty & Crumrine Dynamic Preferred & Income Fund Inc Bradford Stone Bradford Stone Chief Financial Officer, Treasurer and Vice President XXXX