See The Basics for a detailed Fund description

 

Portfolio Overview: (As of 7/31/2018)

 
Top Twenty Five Issuers
  Issuer
% of Portfolio
1.
JPMorgan Chase
4.7%
2.
Wells Fargo & Company
4.2%
3.
MetLife
4.2%
4.
Morgan Stanley
3.7%
5.
PNC Financial Services Group
3.6%
6.
Enbridge Energy Partners
3.1%
7.
BNP Paribas
3.1%
8.
Liberty Mutual Group
3.1%
9.
Fifth Third Bancorp
3.0%
10.
Citigroup
3.0%
11.
HSBC PLC
2.7%
12.
Energy Transfer Partners, L.P.
2.1%
13.
New York Community Bancorp
2.0%
14.
Societe Generale
2.0%
15.
XL Group Limited
2.0%
16.
Land O Lakes
2.0%
17.
CoBank ACB
1.9%
18.
QBE Insurance Group Limited
1.9%
19.
Huntington Bancshares
1.6%
20.
Texas Capital Bancshares, Inc.
1.6%
21.
Dominion Energy Inc
1.5%
22.
Goldman Sachs Group
1.5%
23.
PartnerRe Ltd
1.5%
24.
Commonwealth Edison
1.4%
25.
Standard Chartered PLC
1.4%

 
Total Portfolio
 
Top Twenty Five:
62.9%
 
Other:
37.1%

Exposure to credit default swaps: None


Credit Quality
Moody's Ratings
% of Securities
Aaa
0.0%
Aa
0.0%

A

0.7%
Baa
56.8%
Ba
31.7%
Not Rated
9.3%
   
Below by Both**
32.5%
 
**Below Investment Grade by both Moody's and S&P

Industry Concentration
Industry
% of Securities
Banks
57.5%
Finance
1.0%
Insurance
20.0%
Utilities
7.6%
Other
13.8%
 
  Most recent publicly disclosed fiscal quarter end portfolio holdings are available upon request