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 | 4.41% |
| RZB | Reinsurance Group of America Inc | 2.23% | ||
| STT-PG | State Street Corporation | Financial Services | Asset Management | 2.09% |
| MS-P-K | Morgan Stanley Depositary Shares Series K | Other | Other | 1.91% |
| COF-PJ | Capital One Financial Corporation | Financial Services | Credit Services | 1.47% |
| TVE | Tennessee Valley Authority | Utilities | Electrical Utilities & IPPs | 1.47% |
| AXS-P-E | Axis Capital Holdings Limited Depositary Shares Series E | Other | Other | 1.41% |
| MGR | Affiliated Managers Group Inc | Financials | Investment Banking & Investment Services | 1.38% |
| US808513BK01 | SCHW 4 | 1.38% | ||
| COF-PI | Capital One Financial Corporation | Financial Services | Credit Services | 1.33% |
| US29273VAM28 | Energy Transfer 7.125% perp. | 1.33% | ||
| SOJE | Southern Company (The) Series 2 | 1.21% | ||
| SCE-PM | SCE Trust VII | 1.18% | ||
| T-PC | AT&T Inc | Communication Services | Telecom Services | 1.06% |
| ACGLO | Arch Capital Group Ltd. | Financial Services | Insurance - Diversified | 0.90% |
| UZD | United States Cellular Corporat | 0.83% | ||
| USB-P-A | U.S. Bancorp Depositary Shares Series A | Other | Other | 0.79% |
| US060505FL38 | BAC 5.875 | 0.77% | ||
| US693475BP99 | PNC 6.25 | 0.69% | ||
| US693475BF18 | PNC 6.2 | 0.64% |