| ENERGY TRAN LP 6.625%/VAR PERP | 3.43 | 2,120,000.00 |
| ENBRIDGE INC 8.5%/VAR 01/15/84 | 2.88 | 1,575,000.00 |
| BANK NEW YORK 3.7%/VAR PERP | 2.20 | 1,370,000.00 |
| SOUTHERN CMP 4.2% PFD 10/15/60 | 1.95 | 66,098.00 |
| JPMC CO FRN TSFR3M+274.5 PERP | 1.64 | 1,005,000.00 |
| BPCM 6.45%/VAR PERP | 1.40 | 830,000.00 |
| GSINC 4.125%/VAR PERP | 1.24 | 779,000.00 |
| SCHWAB CHARLES 4%/VAR PERP | 1.23 | 831,000.00 |
| CITIGR T5Y+289 6.875%/VAR PERP | 1.21 | 735,000.00 |
| GSINC 6.85%/VAR PERP | 1.13 | 680,000.00 |
