BATS | ETF
Under normal market conditions, the portfolio managers will invest at least 80% of the fund's net assets, plus any borrowings for investment purposes, in preferred securities issued byU. S. and non-U.S. companies.
Preferred securities in which the fund may invest include preferred stock, hybrid preferred securities that have characteristics similar to both preferred stock and debt securities, floating rate preferred securities, junior subordinated debt, senior unsecured debt obligations denominated in 25 par amounts, re-packaged preferreds, and convertible securities.
The fund is non-diversified.
Top 20 Holdings
| Asset | Name | Sector | Industry | Weight |
|---|---|---|---|---|
| NEE-PR | Nextera Energy Inc | Utilities | Utilities - Regulated Electric | 4.46% |
| NEEPR | NEEPR | 4.19% | ||
| BAPA | Boeing Co 6% PRF CONVERT 15/10/2027 USD 50 - Dep Rep 1/20th Sr A | 3.59% | ||
| HPEPC | Hewlett Packard Enterprise Co 7.625% PRF CONVERT 01/09/2027 USD 50 - Ser C | 3.18% | ||
| WFCPL | Wells Fargo & Co 7 1/2 % Non Cum Perp Conv Pfd Shs -A- Series -L- | Other | Other | 3.01% |
| ARESPB | Ares Management Corp 6.75% PRF PERPETUAL USD 50 - Ser B | 2.92% | ||
| SYFPB | Synchrony Financial 8.25% PRF PERPETUAL USD 25 - Dep rep 1/40 Ser B | 2.61% | ||
| APOPA | Apollo Global Management Inc 6.75% PRF CONVERT 31/07/2026 USD 50 - Ser A | 2.36% | ||
| STTPG | State Street Corp DR | 2.12% | ||
| US29273VAM28 | Energy Transfer 7.125% perp. | 1.99% | ||
| TVE | Tennessee Valley Authority | Utilities | Electrical Utilities & IPPs | 1.45% |
| US808513BK01 | SCHW 4 | 1.38% | ||
| UZD | United States Cellular Corporat | 0.86% | ||
| USB-P-A | U.S. Bancorp Depositary Shares Series A | Other | Other | 0.78% |
| US060505FL38 | BAC 5.875 | 0.76% | ||
| AXS-P-E | Axis Capital Holdings Limited Depositary Shares Series E | Other | Other | 0.68% |
| US693475BP99 | PNC 6.25 | 0.67% | ||
| US693475BF18 | PNC 6.2 | 0.62% | ||
| MS-P-K | Morgan Stanley Depositary Shares Series K | Other | Other | 0.55% |
| RZB | Reinsurance Group of America Inc | 0.53% |