See The Basics for a detailed Fund description

 

Portfolio Overview: (As of 1/31/2019)

 
Top Twenty Five Issuers
  Issuer
% of Portfolio
1.
JPMorgan Chase
4.2%
2.
MetLife
4.1%
3.
Morgan Stanley
3.7%
4.
PNC Financial Services Group
3.5%
5.
BNP Paribas
3.3%
6.
Fifth Third Bancorp
3.1%
7.
Citigroup
3.1%
8.
Liberty Mutual Group
3.0%
9.
Wells Fargo & Company
2.9%
10.
Enbridge Energy Partners
2.8%
11.
HSBC PLC
2.7%
12.
Energy Transfer Operating, L.P.
2.2%
13.
Societe Generale
2.0%
14.
Unum Group
2.0%
15.
New York Community Bancorp
2.0%
16.
XL Group Limited
2.0%
17.
QBE Insurance Group Limited
1.9%
18.
Land O Lakes
1.9%
19.
CoBank ACB
1.9%
20.
Bank of America Corporation
1.7%
21.
Barclays Bank PLC
1.7%
22.
Huntington Bancshares
1.6%
23.
Texas Capital Bancshares, Inc.
1.6%
24.
Dominion Energy Inc
1.6%
25.
Goldman Sachs Group
1.5%

 
Total Portfolio
 
Top Twenty Five:
62.1%
 
Other:
37.9%

Exposure to credit default swaps: None


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

A

0.6%
Baa
57.5%
Ba
30.9%
Not Rated
9.9%
   
Below by Both**
29.5%
 
**Below Investment Grade by both Moody's and S&P

Industry Concentration
Industry
% of Securities
Banks
57.2%
Finance
1.6%
Insurance
20.6%
Utilities
8.2%
Other
12.3%
 
  Most recent publicly disclosed fiscal quarter end portfolio holdings are available upon request