See The Basics for a detailed Fund description

  Portfolio Overview: (As of 10/31/2017)  
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
4.0%
5.
Morgan Stanley
3.7%
6.
BNP Paribas
3.2%
7.
Fifth Third Bancorp
3.0%
8.
Enbridge Energy Partners
3.0%
9.
Liberty Mutual Group
2.9%
10.
XL Group Limited
2.5%
11.
Citigroup
2.2%
12.
New York Community Bancorp
2.0%
13.
Bank of America Corporation
2.0%
14.
Land O Lakes
1.9%
15.
Standard Chartered PLC
1.9%
16.
QBE Insurance Group Limited
1.9%
17.
Societe Generale
1.9%
18.
CoBank ACB
1.8%
19.
Regions Financial Corporation
1.7%
20.
Goldman Sachs Group
1.6%
21.
HSBC PLC
1.6%
22.
Dominion Energy Inc
1.6%
23.
Puget Energy
1.5%
24.
Sovereign Bancorp
1.5%
25.
Unum Group
1.4%

 
Total Portfolio
 
Top Twenty Five:
62.2%
 
Other:
37.8%

Exposure to credit default swaps: None


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

A

1.7%
Baa
57.1%
Ba
31.2%
Not Rated
9.4%
   
Below by Both**
30.7%
 
**Below Investment Grade by both Moody's and S&P

Industry Concentration
Industry
% of Securities
Financial Services  
     Banks
56.5%
     Finance
0.4%
     Insurance
20.9%
 
77.8%
   
Utilities
10.6%
Other
11.6%
 
  Most recent publicly disclosed fiscal quarter end portfolio holdings are available upon request