See The Basics for a detailed Fund description

  Portfolio Overview: (As of 1/31/2018)  
Top Twenty Five Issuer
  Issuer
% of Portfolio
1.
JPMorgan Chase
4.6%
2.
MetLife
4.4%
3.
Wells Fargo & Company
4.2%
4.
PNC Financial Services Group
3.9%
5.
Morgan Stanley
3.9%
6.
BNP Paribas
3.1%
7.
Fifth Third Bancorp
3.0%
8.
Enbridge Energy Partners
3.0%
9.
Liberty Mutual Group
2.9%
10.
XL Group Limited
2.6%
11.
Citigroup
2.1%
12.
New York Community Bancorp
2.0%
13.
Bank of America Corporation
2.0%
14.
Land O Lakes
2.0%
15.
Standard Chartered PLC
1.9%
16.
QBE Insurance Group Limited
1.9%
17.
Societe Generale
1.8%
18.
CoBank ACB
1.8%
19.
Goldman Sachs Group
1.6%
20.
Texas Capital Bancshares, Inc.
1.5%
21.
Dominion Energy Inc
1.5%
22.
Sovereign Bancorp
1.5%
23.
Unum Group
1.4%
24.
HSBC PLC
1.4%
25.
PartnerRe Ltd
1.3%

 
Total Portfolio
 
Top Twenty Five:
61.4%
 
Other:
38.6%

Exposure to credit default swaps: None


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

A

1.2%
Baa
54.7%
Ba
33.3%
Not Rated
9.5%
   
Below by Both**
30.8%
 
**Below Investment Grade by both Moody's and S&P

Industry Concentration
Industry
% of Securities
Financial Services  
     Banks
56.1%
     Finance
0.6%
     Insurance
20.9%
 
77.6%
   
Utilities
10.5%
Other
11.9%
 
  Most recent publicly disclosed fiscal quarter end portfolio holdings are available upon request