See The Basics for a detailed Fund description

  Portfolio Overview: (As of 7/31/2017)  
Top Twenty Five Issuer
  Issuer
% of Portfolio
1.
JPMorgan Chase
4.7%
2.
MetLife
4.5%
3.
Wells Fargo & Company
4.1%
4.
PNC Financial Services Group
4.1%
5.
Morgan Stanley
3.4%
6.
Fifth Third Bancorp
3.2%
7.
BNP Paribas
3.1%
8.
Enbridge Energy Partners
3.0%
9.
Liberty Mutual Group
2.9%
10.
XL Group Limited
2.6%
11.
Citigroup
2.2%
12.
New York Community Bancorp
2.1%
13.
Bank of America Corporation
2.0%
14.
HSBC PLC
2.0%
15.
Land O Lakes
1.9%
16.
Standard Chartered PLC
1.9%
17.
QBE Insurance Group Limited
1.9%
18.
Societe Generale
1.9%
19.
CoBank ACB
1.8%
20.
Regions Financial Corporation
1.6%
21.
Dominion Energy Inc
1.6%
22.
Puget Energy
1.5%
23.
Sovereign Bancorp
1.5%
24.
Unum Group
1.4%
25.
PartnerRe Ltd
1.4%

 
Total Portfolio
 
Top Twenty Five:
62.3%
 
Other:
37.7%

Exposure to credit default swaps: None


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

A

1.7%
Baa
59.4%
Ba
29.8%
Not Rated
8.3%
   
Below by Both**
28.1%
 
**Below Investment Grade by both Moody's and S&P

Industry Concentration
Industry
% of Securities
Financial Services  
     Banks
54.4%
     Finance
0.4%
     Insurance
22.4%
 
77.2%
   
Utilities
11.3%
Other
11.6%
 
  Most recent publicly disclosed fiscal quarter end portfolio holdings are available upon request