See The Basics for a detailed Fund description

  Portfolio Overview: (As of 5/31/2018)  
Top Twenty Five Issuer
  Issuer
% of Portfolio
1.
JPMorgan Chase
4.6%
2.
MetLife
4.3%
3.
Wells Fargo & Company
4.2%
4.
PNC Financial Services Group
3.9%
5.
Morgan Stanley
3.9%
6.
Enbridge Energy Partners
3.0%
7.
BNP Paribas
3.0%
8.
Fifth Third Bancorp
3.0%
9.
Liberty Mutual Group
2.9%
10.
HSBC PLC
2.7%
11.
Citigroup
2.6%
12.
XL Group Limited
2.1%
13.
New York Community Bancorp
2.1%
14.
Land O Lakes
2.0%
15.
Societe Generale
2.0%
16.
QBE Insurance Group Limited
1.9%
17.
CoBank ACB
1.9%
18.
Standard Chartered PLC
1.9%
19.
Huntington Bancshares
1.6%
20.
Goldman Sachs Group
1.6%
21.
Texas Capital Bancshares, Inc.
1.6%
22.
Dominion Energy Inc
1.6%
23.
Bank of America Corporation
1.5%
24.
Sovereign Bancorp
1.4%
25.
Unum Group
1.4%

 
Total Portfolio
 
Top Twenty Five:
62.6%
 
Other:
37.4%

Exposure to credit default swaps: None


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

A

1.3%
Baa
55.4%
Ba
32.3%
Not Rated
9.4%
   
Below by Both**
33.2%
 
**Below Investment Grade by both Moody's and S&P

Industry Concentration
Industry
% of Securities
Financial Services  
     Banks
58.5%
     Finance
0.6%
     Insurance
19.7%
 
78.8%
   
Utilities
8.1%
Other
13.1%
 
  Most recent publicly disclosed fiscal quarter end portfolio holdings are available upon request