NPORT-P false 0001245648 XXXXXXXX Flaherty & Crumrine Total Return Fund Inc 811-21380 0001245648 254900OFZ9J1RLHWZQ22 301 East Colorado Boulevard Suite 800 Pasadena 91101 626-795-7300 Flaherty & Crumrine Total Return Fund Incorporated 254900OFZ9J1RLHWZQ22 2025-11-30 2025-11-28 N 318283506.25 120298555.40 197984950.85 0.00000000 0.00000000 118500000.00000000 0.00000000 0.00000000 0.00000000 0.00000000 0.00000000 0.00000000 0.00000000 0.00000000 0.00000000 0.00000000 USD N BNP PARIBAS R0MUWSFPU8MPRO8K5P83 05602XJC3 975000.00000000 PA USD 1012181.63000000 0.511241700772 Long DBT CORP FR N 2 N/A Fixed 7.37500000 N N N N N N BNP PARIBAS R0MUWSFPU8MPRO8K5P83 05565A5R0 511000.00000000 PA USD 545888.01000000 0.275721971622 Long DBT CORP FR N 2 N/A Fixed 8.50000000 N N N N N N CENTERPOINT ENERGY INC 21TPXMRRHFKOBHDC8J74 15189TBJ5 950000.00000000 PA USD 1019755.65000000 0.515067254163 Long DBT CORP US N 2 2055-02-15 Fixed 6.85000000 N N N N N N SOCIETE GENERALE O2RNE8IBXP4R0TD8PU41 83370RAB4 1000000.00000000 PA USD 998017.90000000 0.504087758041 Long DBT CORP FR N 2 N/A Fixed 4.75000000 N N N N N N PARAMOUNT GLOBAL 5KYC8KF17ROCY24M3H09 92556HAE7 1860000.00000000 PA USD 1824522.73000000 0.921546169123 Long DBT CORP US N 2 2062-03-30 Fixed 6.37500000 N N N N N N CADENCE BANK Q7C315HKI8VX0SSKBS64 12740C202 23546.00000000 NS USD 508711.33000000 0.256944443411 Long EP CORP US N 1 N N N LIBERTY MUTUAL GROUP INC QUR0DG15Z6FFGYCHH861 53079EBM5 940000.00000000 PA USD 922008.23000000 0.465696117831 Long DBT CORP US N 2 2051-12-15 Fixed 4.12500000 N N N N N N QWEST CORP 549300R2L4N683OO1509 74913G873 41820.00000000 NS USD 805871.40000000 0.407036694728 Long EP CORP US N 1 N N N BNP PARIBAS R0MUWSFPU8MPRO8K5P83 05565AM34 970000.00000000 PA USD 1025897.22000000 0.518169292966 Long DBT CORP FR N 2 N/A Fixed 7.75000000 N N N N N N GOLDMAN SACHS GROUP INC 784F5XWPLTWKTBV3E584 38144GAB7 300000.00000000 PA USD 302233.20000000 0.152654632941 Long DBT CORP US N 2 N/A Fixed 7.56000000 N N N N N N BANK OF NY MELLON CORP WFLLPEPC7FZXENRZV188 064058AR1 380000.00000000 PA USD 385188.52000000 0.194554443833 Long DBT CORP US N 2 N/A Fixed 5.95000000 N N N N N N ROYAL BANK OF CANADA ES7IP3U3RHIGC71XBU11 780082AR4 940000.00000000 PA USD 996087.92000000 0.503112946576 Long DBT CORP CA N 2 2084-05-02 Fixed 7.50000000 N N N N N N METLIFE INC C4BXATY60WC6XEOZDX54 59156RBS6 5335000.00000000 PA USD 6408316.64000000 3.236769568842 Long DBT CORP US N 2 2038-04-08 Fixed 9.25000000 N N N N N N WINTRUST FINANCIAL CORP Q774KI4AW80FHFW33O61 97650W702 33200.00000000 NS USD 871832.00000000 0.440352661279 Long EP CORP US N 1 N N N BARCLAYS PLC 213800LBQA1Y9L22JB70 06738ECN3 785000.00000000 PA USD 887207.79000000 0.448118802055 Long DBT CORP GB N 2 N/A Fixed 9.62500000 N N N N N N STATE STREET CORP 549300ZFEEJ2IP5VME73 857477CH4 1000000.00000000 PA USD 1038957.00000000 0.524765642812 Long DBT CORP US N 2 N/A Fixed 6.70000000 N N N N N N COMERICA INC I9Q57JVPWHHZ3ZGBW498 200340701 153320.00000000 NS USD 3955656.00000000 1.997957917012 Long EP CORP US N 1 N N N NORTHWEST NATURAL HOLDI 254900PSJL6ZEC8FR782 66765NAA3 765000.00000000 PA USD 793180.31000000 0.400626566107 Long DBT CORP US N 2 2055-09-15 Fixed 7.00000000 N N N N N N LEHMAN BROS HLDG-ESCROW N/A 000000000 20000.00000000 NS USD 0.00000000 0.000000 Long EP CORP US N 2 N N N QWEST CORP 549300R2L4N683OO1509 74913G881 29941.00000000 NS USD 574867.20000000 0.290359038670 Long EP CORP US N 1 N N N TPG OPERATING GROUP II 2549001H9RJQNZT7MU11 872652102 27380.00000000 NS USD 703939.80000000 0.355552175545 Long EP CORP US N 1 N N N BANK OF AMERICA CORP 9DJT3UXIJIZJI4WXO774 06055HAK9 900000.00000000 PA USD 910765.80000000 0.460017691289 Long DBT CORP US N 2 N/A Fixed 6.25000000 N N N N N N EDISON INTERNATIONAL 549300I7ROF15MAEVP56 281020AT4 1733000.00000000 PA USD 1724304.85000000 0.870927230881 Long DBT CORP US N 2 N/A Fixed 5.00000000 N N N N N N MORGAN STANLEY IGJSJL3JD5P30I6NJZ34 61762V838 19000.00000000 NS USD 499510.00000000 0.252296953811 Long EP CORP US N 1 N N N AERCAP IRELAND CAP/GLOBA N/A 00774MBQ7 550000.00000000 PA USD 565806.45000000 0.285782554467 Long DBT CORP IE N 2 2056-01-31 Fixed 6.50000000 N N N N N N EDISON INTERNATIONAL 549300I7ROF15MAEVP56 281020AS6 560000.00000000 PA USD 560814.97000000 0.283261413351 Long DBT CORP US N 2 N/A Fixed 5.37500000 N N N N N N ENBRIDGE INC 98TPTUM4IVMFCZBCUR27 29250NAN5 1500000.00000000 PA USD 1506283.50000000 0.760807068180 Long DBT CORP CA N 2 2077-01-15 Fixed 6.00000000 N N N N N N SOCIETE GENERALE O2RNE8IBXP4R0TD8PU41 83370RAC2 4240000.00000000 PA USD 4527921.44000000 2.287002835599 Long DBT CORP FR N 2 N/A Fixed 9.37500000 N N N N N N GENERAL MOTORS FINL CO 5493008B6JBRUJ90QL97 37045XCM6 1000000.00000000 PA USD 1007852.00000000 0.509054852741 Long DBT CORP US N 2 N/A Fixed 6.50000000 N N N N N N EVERGY INC 549300PGTHDQY6PSUI61 30034WAE6 820000.00000000 PA USD 839192.10000000 0.423866610263 Long DBT CORP US N 2 2055-06-01 Fixed 6.65000000 N N N N N N SCE TRUST VIII N/A 80620A208 28900.00000000 NS USD 681173.00000000 0.344052917696 Long EP CORP US N 1 N N N UBS GROUP AG 549300SZJ9VS8SGXAN81 902613AD0 675000.00000000 PA USD 613370.81000000 0.309806784488 Long DBT CORP CH N 2 N/A Fixed 4.37500000 N N N N N N GOLDMAN SACHS GROUP INC 784F5XWPLTWKTBV3E584 38141GC28 500000.00000000 PA USD 519189.00000000 0.262236598171 Long DBT CORP US N 2 N/A Fixed 6.85000000 N N N N N N PHILLIPS 66 CO RVJMT2IZVVSKIRJJBH76 718547BA9 1595000.00000000 PA USD 1598210.74000000 0.807238496228 Long DBT CORP US N 2 2056-03-15 Fixed 6.20000000 N N N N N N JPMORGAN CHASE & CO 8I5DZWZKVSZI1NUHU748 48128BAN1 850000.00000000 PA USD 842817.76000000 0.425697890865 Long DBT CORP US N 2 N/A Fixed 3.65000000 N N N N N N FT REAL ESTATE SECS CO 0002671824 302663208 3.00000000 NS USD 3351000.00000000 1.692552886274 Long EP CORP US N 2 N N N CITIGROUP INC 6SHGI4ZSSLCXXQSBB395 17327CBC6 800000.00000000 PA USD 819532.80000000 0.413936916155 Long DBT CORP US N 2 N/A Fixed 6.87500000 N N N N N N COMED FINANCING III N/A 20035AAA2 944000.00000000 PA USD 999047.21000000 0.504607651092 Long DBT CORP US N 2 2033-03-15 Fixed 6.35000000 N N N N N N ROYAL BANK OF CANADA ES7IP3U3RHIGC71XBU11 780082AT0 1370000.00000000 PA USD 1351913.40000000 0.682836444990 Long DBT CORP CA N 2 2084-11-24 Fixed 6.35000000 N N N N N N HUNTINGTON BANCSHARES 549300XTVCVV9I7B5T19 446150AV6 405000.00000000 PA USD 396863.15000000 0.200451169796 Long DBT CORP US N 2 N/A Fixed 4.45000000 N N N N N N SYNCHRONY FINANCIAL 549300RS7EWPM9MA6C78 87165B400 63300.00000000 NS USD 1652763.00000000 0.834792236937 Long EP CORP US N 1 N N N F&G ANNUITIES & LIFE INC N/A 30190A609 23800.00000000 NS USD 553588.00000000 0.279611151061 Long EP CORP US N 1 N N N COBANK ACB P0J8I7M2E0A77CKF1705 19075QAC6 609000.00000000 PA USD 612000.54000000 0.309114676328 Long DBT USGSE US N 2 N/A Fixed 6.25000000 N N N N N N HSBC HOLDINGS PLC MLU0ZO3ML4LN2LL2TL39 404280EJ4 680000.00000000 PA USD 716437.12000000 0.361864433091 Long DBT CORP GB N 2 N/A Fixed 6.95000000 N N N N N N NISOURCE INC 549300D8GOWWH0SJB189 65473PAT2 400000.00000000 PA USD 414793.60000000 0.209507640969 Long DBT CORP US N 2 2055-03-31 Fixed 6.37500000 N N N N N N HSBC HOLDINGS PLC MLU0ZO3ML4LN2LL2TL39 404280BL2 500000.00000000 PA USD 503830.00000000 0.254478937836 Long DBT CORP GB N 2 N/A Fixed 6.00000000 N N N N N N ALLY FINANCIAL INC 549300JBN1OSM8YNAI90 02005NBN9 925000.00000000 PA USD 854389.85000000 0.431542825013 Long DBT CORP US N 2 N/A Fixed 4.70000000 N N N N N N XCEL ENERGY INC LGJNMI9GH8XIDG5RCM61 98389B878 31600.00000000 NS USD 789052.00000000 0.398541402572 Long EP CORP US N 1 N N N WELLS FARGO & COMPANY PBLD0EJDB5FWOLXP3B76 949746TD3 925000.00000000 PA USD 921425.15000000 0.465401610599 Long DBT CORP US N 2 N/A Fixed 3.90000000 N N N N N N FIRST HORIZON CORP TF3RXI1ZB1TQ30H9JV10 320517402 21200.00000000 NS USD 520672.00000000 0.262985645002 Long EP CORP US N 1 N N N WELLS FARGO & COMPANY PBLD0EJDB5FWOLXP3B76 95002YAC7 1470000.00000000 PA USD 1541267.07000000 0.778476880885 Long DBT CORP US N 2 N/A Fixed 6.85000000 N N N N N N LAND O'LAKES INC 4ONCJWH5BBCYSJIJYX61 514666AM8 4350000.00000000 PA USD 3949801.74000000 1.995000995299 Long DBT CORP US N 2 N/A Fixed 7.25000000 N N N N N N ANNALY CAPITAL MGMT 2DTL0G3FPRYUT58TI025 035710870 4540.00000000 NS USD 116314.80000000 0.058749313773 Long EP CORP US N 1 N N N BANK OF NOVA SCOTIA L3I9ZG2KFGXZ61BMYR72 0641598V1 1050000.00000000 PA USD 1125300.75000000 0.568376912067 Long DBT CORP CA N 2 2084-01-27 Fixed 8.00000000 N N N N N N MORGAN STANLEY IGJSJL3JD5P30I6NJZ34 61762V200 35823.00000000 NS USD 915277.65000000 0.462296576618 Long EP CORP US N 1 N N N DIME COMMUNITY BANCSHARE 0002487650 25432X300 19600.00000000 NS USD 509208.00000000 0.257195305912 Long EP CORP US N 1 N N N FARM CREDIT BK OF TEXAS V1EBJIOLRNYDHDF63Z33 30767EAF6 645000.00000000 PA USD 667262.18000000 0.337026716998 Long DBT USGSE US N 2 N/A Fixed 7.00000000 N N N N N N BANCO BILBAO VIZCAYA ARG K8MS7FD7N5Z2WQ51AZ71 05946KAM3 1800000.00000000 PA USD 2010841.20000000 1.015653559205 Long DBT CORP ES N 2 N/A Fixed 9.37500000 N N N N N N NEXTERA ENERGY CAPITAL UMI46YPGBLUE4VGNNT48 65339KDB3 875000.00000000 PA USD 939600.38000000 0.474581717431 Long DBT CORP US N 2 2054-06-15 Fixed 6.75000000 N N N N N N WAFD INC 0003065617 938824307 25000.00000000 NS USD 418750.00000000 0.211505974672 Long EP CORP US N 1 N N N ASSURANT INC H3F39CAXWQRVWURFXL38 04621X306 19300.00000000 NS USD 381368.00000000 0.192624741609 Long EP CORP US N 1 N N N KUVARE US HOLDINGS INC 254900MGBERNLZXF7O58 50149XAA2 1465000.00000000 PA USD 1468809.00000000 0.741879114394 Long DBT CORP US N 2 2051-02-17 Fixed 7.00000000 N N N N N N WESBANCO INC 0001070448 950810887 97210.00000000 NS USD 2506073.80000000 1.265790045779 Long EP CORP US N 1 N N N SYNOVUS FINANCIAL CORP 549300EIUS8UN5JTLE54 87161C709 122848.00000000 NS USD 3243187.20000000 1.638097838283 Long EP CORP US N 1 N N N TPG RE FINANCE TRUST INC N/A 87266M206 28200.00000000 NS USD 511830.00000000 0.258519648994 Long EP CORP US N 1 N N N COMPEER FINANCIAL ACA 54930020HTACTODKHT04 20453QAA0 285000.00000000 PA USD 280905.98000000 0.141882490964 Long DBT CORP US N 2 N/A Fixed 4.87500000 N N N N N N CITIZENS FINANCIAL GROUP 2138004JDDA4ZQUPFW65 174610AQ8 2325000.00000000 PA USD 2332933.13000000 1.178338616134 Long DBT CORP US N 2 N/A Floating 7.35279000 N N N N N N BNP PARIBAS R0MUWSFPU8MPRO8K5P83 05602XQQ4 4475000.00000000 PA USD 4669537.20000000 2.358531383295 Long DBT CORP FR N 2 N/A Fixed 7.45000000 N N N N N N BARCLAYS PLC 213800LBQA1Y9L22JB70 06738EDC6 775000.00000000 PA USD 818585.23000000 0.413458309071 Long DBT CORP GB N 2 N/A Fixed 7.62500000 N N N N N N REINSURANCE GRP OF AMER LORM1GNEU1DKEW527V90 759351AT6 300000.00000000 PA USD 309763.20000000 0.156457952319 Long DBT CORP US N 2 2055-09-15 Fixed 6.65000000 N N N N N N STIFEL FINANCIAL CORP 549300E5F07FE5GHJX84 860630706 29000.00000000 NS USD 703830.00000000 0.355496716784 Long EP CORP US N 1 N N N ROYAL BANK OF CANADA ES7IP3U3RHIGC71XBU11 780082AV5 590000.00000000 PA USD 609985.66000000 0.308096982816 Long DBT CORP CA N 2 2085-08-24 Fixed 6.75000000 N N N N N N SCE TRUST V N/A 78409W201 44140.00000000 NS USD 1114535.00000000 0.562939251299 Long EP CORP US N 1 N N N ALGONQUIN PWR & UTILITY 549300K5VIUTJXQL7X75 015857808 104510.00000000 NS USD 2685907.00000000 1.356621798004 Long EP CORP CA N 1 N N N M&T BANK CORPORATION 549300WYXDDBYRASEG81 55261FAN4 725000.00000000 PA USD 700486.16000000 0.353807780335 Long DBT CORP US N 2 N/A Fixed 3.50000000 N N N N N N ALLY FINANCIAL INC 549300JBN1OSM8YNAI90 02005NBM1 1390000.00000000 PA USD 1362496.07000000 0.688181634084 Long DBT CORP US N 2 N/A Fixed 4.70000000 N N N N N N HUNTINGTON BANCSHARES 549300XTVCVV9I7B5T19 446150AT1 375000.00000000 PA USD 381838.88000000 0.192862577867 Long DBT CORP US N 2 N/A Fixed 5.62500000 N N N N N N SBL HOLDINGS INC 635400MJW3QDSBJRKQ59 78397DAA6 1300000.00000000 PA USD 1329911.70000000 0.671723630654 Long DBT CORP US N 2 N/A Fixed 9.50800000 N N N N N N CITIGROUP INC 6SHGI4ZSSLCXXQSBB395 172967NB3 450000.00000000 PA USD 442699.79000000 0.223602747632 Long DBT CORP US N 2 N/A Fixed 4.15000000 N N N N N N NEXTERA ENERGY CAPITAL UMI46YPGBLUE4VGNNT48 65339KDE7 790000.00000000 PA USD 820799.73000000 0.414576828428 Long DBT CORP US N 2 2055-08-15 Fixed 6.37500000 N N N N N N LLOYDS BANKING GROUP PLC 549300PPXHEU2JF0AM85 539439BF5 695000.00000000 PA USD 691082.79000000 0.349058242575 Long DBT CORP GB N 2 N/A Fixed 6.62500000 N N N N N N TELUS CORP 894500WE70KKZRQMBU11 87971MCM3 575000.00000000 PA USD 600642.13000000 0.303377669576 Long DBT CORP CA N 2 2055-10-15 Fixed 7.00000000 N N N N N N SEMPRA PBBKGKLRK5S5C0Y4T545 816851BT5 800000.00000000 PA USD 814972.80000000 0.411633710795 Long DBT CORP US N 2 2054-10-01 Fixed 6.40000000 N N N N N N FULTON FINANCIAL CORP 5493005QLZ6O1BNC0C11 360271308 11400.00000000 NS USD 219564.00000000 0.110899338084 Long EP CORP US N 1 N N N CITIGROUP INC 6SHGI4ZSSLCXXQSBB395 172967PM7 1185000.00000000 PA USD 1259132.42000000 0.635973802349 Long DBT CORP US N 2 N/A Fixed 7.00000000 N N N N N N AMERICAN NATIONAL GROUP 549300RK5RZQ740FPL83 025676AR8 720000.00000000 PA USD 724906.80000000 0.366142374401 Long DBT CORP US N 2 2055-12-01 Fixed 7.00000000 N N N N N N FIFTH THIRD BANCORP THRNG6BD57P9QWTQLG42 316773605 169409.00000000 NS USD 4348729.03000000 2.196494739286 Long EP CORP US N 1 N N N PNC FINANCIAL SERVICES CFGNEKW0P8842LEUIA51 693475BP9 1365000.00000000 PA USD 1404582.27000000 0.709438906325 Long DBT CORP US N 2 N/A Fixed 6.25000000 N N N N N N UBS GROUP AG 549300SZJ9VS8SGXAN81 902613BE7 210000.00000000 PA USD 246227.73000000 0.124366892000 Long DBT CORP CH N 2 N/A Fixed 9.25000000 N N N N N N REGIONS FINANCIAL CORP CW05CS5KW59QTC0DG824 7591EP704 125350.00000000 NS USD 2973302.00000000 1.501781820908 Long EP CORP US N 1 N N N BANK OF NOVA SCOTIA L3I9ZG2KFGXZ61BMYR72 0641598X7 750000.00000000 PA USD 778491.75000000 0.393207537571 Long DBT CORP CA N 2 2085-04-27 Fixed 7.35000000 N N N N N N UMB FINANCIAL CORP 549300MGEH3N3CUCV828 902788405 47800.00000000 NS USD 1277694.00000000 0.645349050276 Long EP CORP US N 1 N N N HUNTINGTON BANCSHARES 549300XTVCVV9I7B5T19 446150BG8 400000.00000000 PA USD 394945.08000000 0.199482373940 Long DBT CORP US N 2 N/A Fixed 6.25000000 N N N N N N BANK OF NY MELLON CORP WFLLPEPC7FZXENRZV188 064058845 15800.00000000 NS USD 406692.00000000 0.205415612779 Long EP CORP US N 1 N N N COREBRIDGE FINANCIAL INC 549300XY1661QCIA7J65 21871XAT6 800000.00000000 PA USD 807354.40000000 0.407785741559 Long DBT CORP US N 2 2054-09-15 Fixed 6.37500000 N N N N N N WELLS FARGO & COMPANY PBLD0EJDB5FWOLXP3B76 95002YAA1 2400000.00000000 PA USD 2558656.80000000 1.292349135131 Long DBT CORP US N 2 N/A Fixed 7.62500000 N N N N N N AMER AGCREDIT ACA 0002558989 02369GAA3 2065000.00000000 PA USD 2019477.08000000 1.020015446290 Long DBT CORP US N 2 N/A Fixed 5.25000000 N N N N N N VISTRA CORP 549300KP43CPCUJOOG15 92840MAC6 185000.00000000 PA USD 187807.75000000 0.094859608871 Long DBT CORP US N 2 N/A Fixed 7.00000000 N N N N N N DIME COMMUNITY BANCSHARE 0002487650 25432X201 39000.00000000 NS USD 726960.00000000 0.367179422920 Long EP CORP US N 1 N N N BANK OF NOVA SCOTIA L3I9ZG2KFGXZ61BMYR72 06419GEE2 810000.00000000 PA USD 817671.51000000 0.412996799246 Long DBT CORP CA N 2 2085-10-27 Fixed 6.87500000 N N N N N N GOLDMAN SACHS GROUP INC 784F5XWPLTWKTBV3E584 38141GA79 1590000.00000000 PA USD 1679904.96000000 0.848501339514 Long DBT CORP US N 2 N/A Fixed 7.50000000 N N N N N N SEMPRA PBBKGKLRK5S5C0Y4T545 816851BS7 800000.00000000 PA USD 820824.80000000 0.414589491007 Long DBT CORP US N 2 2054-10-01 Fixed 6.87500000 N N N N N N WEBSTER FINANCIAL CORP KMRURHT0VWKYS6Z5KU67 947890703 13416.00000000 NS USD 320910.72000000 0.162088440875 Long EP CORP US N 1 N N N DOMINION ENERGY INC ILUL7B6Z54MRYCF6H308 25746UDM8 650000.00000000 PA USD 643883.44000000 0.325218375051 Long DBT CORP US N 2 N/A Fixed 4.35000000 N N N N N N GLOBAL ATLANTIC FIN CO 98450051B2E65CAA7E94 37959GAH0 960000.00000000 PA USD 958046.59000000 0.483898693252 Long DBT CORP US N 2 2056-03-01 Fixed 7.25000000 N N N N N N CONNECTONE BANCORP INC 549300E2M5ZYAZKUK134 20786W503 47900.00000000 NS USD 1156785.00000000 0.584279257101 Long EP CORP US N 1 N N N CNO FINANCIAL GROUP INC 11XPYHB76MPM4Y4P2897 12621E301 16100.00000000 NS USD 303002.00000000 0.153042945284 Long EP CORP US N 1 N N N BANK OF MONTREAL NQQ6HPCNCCU6TUTQYE16 06368L5Q5 490000.00000000 PA USD 523006.40000000 0.264164724517 Long DBT CORP CA N 2 2084-11-26 Fixed 7.30000000 N N N N N N CAPITAL ONE FINANCIAL CO ZUE8T73ROZOF6FLBAR73 14040HCF0 1180000.00000000 PA USD 1164105.75000000 0.587976886628 Long DBT CORP US N 2 N/A Fixed 3.95000000 N N N N N N M&T BANK CORPORATION 549300WYXDDBYRASEG81 55261FAH7 445000.00000000 PA USD 444427.15000000 0.224475217985 Long DBT CORP US N 2 N/A Fixed 5.12500000 N N N N N N CANADIAN IMPERIAL BANK 2IGI19DL77OX0HC3ZE78 13607PNF7 685000.00000000 PA USD 701379.72000000 0.354259107567 Long DBT CORP CA N 2 2085-01-28 Fixed 6.95000000 N N N N N N ARBOR REALTY TRUST INC 549300ASFUWYQO0RW077 038923850 67100.00000000 NS USD 1488949.00000000 0.752051604734 Long EP CORP US N 1 N N N BANCO SANTANDER SA 5493006QMFDDMYWIAM13 05964HBH7 1400000.00000000 PA USD 1555432.20000000 0.785631530741 Long DBT CORP ES N 2 N/A Fixed 8.00000000 N N N N N N BBVA MEX BANCA GRUPO TX 549300WIWQK5Q9MCUN92 05533UAG3 670000.00000000 PA USD 669339.51000000 0.338075953311 Long DBT CORP MX N 2 2034-09-13 Fixed 5.87500000 N N N N N N ROGERS COMMUNICATIONS IN 5493000M6Z4XFIP6PF03 775109DH1 710000.00000000 PA USD 751914.24000000 0.379783532420 Long DBT CORP CA N 2 2055-04-15 Fixed 7.12500000 N N N N N N CITIGROUP INC 6SHGI4ZSSLCXXQSBB395 172967MU2 300000.00000000 PA USD 300909.00000000 0.151985794227 Long DBT CORP US N 2 N/A Fixed 4.00000000 N N N N N N COBANK ACB P0J8I7M2E0A77CKF1705 19075QAG7 535000.00000000 PA USD 556707.63000000 0.281186841530 Long DBT USGSE US N 2 N/A Fixed 7.12500000 N N N N N N METLIFE INC C4BXATY60WC6XEOZDX54 59156RAV0 3640000.00000000 PA USD 4852585.92000000 2.450987258964 Long DBT CORP US N 2 2039-08-01 Fixed 10.75000000 N N N N N N BANCO MERCANTIL DE NORTE 549300QTVYRPFHS0J362 05971PAE8 1125000.00000000 PA USD 1195583.06000000 0.603875726345 Long DBT CORP MX N 2 N/A Fixed 8.75000000 N N N N N N PROVIDENT FINANCING TR I N/A 743863AA0 5803000.00000000 PA USD 6328454.05000000 3.196431861528 Long DBT CORP US N 2 2038-03-15 Fixed 7.40500000 N N N N N N CITIGROUP INC 6SHGI4ZSSLCXXQSBB395 172967PK1 1250000.00000000 PA USD 1282542.50000000 0.647797973782 Long DBT CORP US N 2 N/A Fixed 7.12500000 N N N N N N ENTERGY CORP 4XM3TW50JULSLG8BNC79 29364GAS2 650000.00000000 PA USD 654353.17000000 0.330506519404 Long DBT CORP US N 2 2056-06-15 Fixed 6.10000000 N N N N N N STANDARD CHARTERED PLC U4LOSYZ7YG4W3S5F2G91 853254CM0 2420000.00000000 PA USD 2512794.90000000 1.269184798749 Long DBT CORP GB N 2 N/A Fixed 7.75000000 N N N N N N SOCIETE GENERALE O2RNE8IBXP4R0TD8PU41 83370RAA6 1000000.00000000 PA USD 953584.30000000 0.481644840128 Long DBT CORP FR N 2 N/A Fixed 5.37500000 N N N N N N SBL HOLDINGS INC 635400MJW3QDSBJRKQ59 78397DAC2 1500000.00000000 PA USD 1432052.10000000 0.723313612399 Long DBT CORP US N 2 N/A Fixed 6.50000000 N N N N N N EQUITABLE HOLDINGS INC 549300FIBAKMNHPZ4009 29452EAD3 630000.00000000 PA USD 657178.20000000 0.331933410685 Long DBT CORP US N 2 2055-03-28 Fixed 6.70000000 N N N N N N GLOBAL ATLANTIC FIN CO 98450051B2E65CAA7E94 37959GAG2 730000.00000000 PA USD 756471.26000000 0.382085232616 Long DBT CORP US N 2 2054-10-15 Fixed 7.95000000 N N N N N N PNC FINANCIAL SERVICES CFGNEKW0P8842LEUIA51 693475BF1 760000.00000000 PA USD 773146.48000000 0.390507701055 Long DBT CORP US N 2 N/A Fixed 6.20000000 N N N N N N VALLEY NATIONAL BANCORP 549300ET52S1UBIB9762 919794305 38203.00000000 NS USD 970356.20000000 0.490116140562 Long EP CORP US N 1 N N N PARTNERRE LTD 7LLHQS68KCIGNZBR7918 000000000 47900.00000000 NS USD 814300.00000000 0.411293886986 Long EP CORP BM N 2 N N N AMERICAN ELECTRIC POWER 1B4S6S7G0TW5EE83BO58 02557TAF6 655000.00000000 PA USD 655836.11000000 0.331255535930 Long DBT CORP US N 2 2056-03-15 Fixed 6.05000000 N N N N N N WELLS FARGO & COMPANY PBLD0EJDB5FWOLXP3B76 949746804 325.00000000 NS USD 396503.25000000 0.200269388303 Long EP CORP US N 1 N N N CITIGROUP INC 6SHGI4ZSSLCXXQSBB395 172967MV0 600000.00000000 PA USD 598092.00000000 0.302089627232 Long DBT CORP US N 2 N/A Fixed 3.87500000 N N N N N N EVEREST REINSURANCE HLDG 254900P29PM5UJR3VU91 299808AE5 1519000.00000000 PA USD 1446359.75000000 0.730540247524 Long DBT CORP US N 2 2037-05-15 Floating 6.49842000 N N N N N N CITIZENS FINANCIAL GROUP 2138004JDDA4ZQUPFW65 174610600 36100.00000000 NS USD 955206.00000000 0.482463942789 Long EP CORP US N 1 N N N AERCAP IRELAND CAP/GLOBA N/A 00774MBK0 1180000.00000000 PA USD 1238228.85000000 0.625415641281 Long DBT CORP IE N 2 2055-03-10 Fixed 6.95000000 N N N N N N CVS HEALTH CORP 549300EJG376EN5NQE29 126650EH9 660000.00000000 PA USD 694623.60000000 0.350846666384 Long DBT CORP US N 2 2055-03-10 Fixed 7.00000000 N N N N N N SOUTHERN CO 549300FC3G3YU2FBZD92 842587EB9 405000.00000000 PA USD 429085.76000000 0.216726452267 Long DBT CORP US N 2 2055-03-15 Fixed 6.37500000 N N N N N N ENERGY TRANSFER LP MTLVN9N7JE8MIBIJ1H73 29273VBH2 620000.00000000 PA USD 617366.86000000 0.311825144966 Long DBT CORP US N 2 2056-02-15 Fixed 6.75000000 N N N N N N CITIZENS FINANCIAL GROUP 2138004JDDA4ZQUPFW65 174610808 33000.00000000 NS USD 839520.00000000 0.424032228912 Long EP CORP US N 1 N N N DTE ENERGY CO 549300IX8SD6XXD71I78 233331792 31900.00000000 NS USD 798138.00000000 0.403130640270 Long EP CORP US N 1 N N N AFFILIATED MANAGERS GROU 2JE75BUE3T1BLCYYGK54 008252827 29800.00000000 NS USD 726524.00000000 0.366959204162 Long EP CORP US N 1 N N N KEYCORP RKPI3RZGV1V1FJTH5T61 493267702 78103.00000000 NS USD 1953356.03000000 0.986618438226 Long EP CORP US N 1 N N N M&T BANK CORPORATION 549300WYXDDBYRASEG81 55261F849 28800.00000000 NS USD 723456.00000000 0.365409591433 Long EP CORP US N 1 N N N AMERICAN ELECTRIC POWER 1B4S6S7G0TW5EE83BO58 025537BA8 1235000.00000000 PA USD 1339593.39000000 0.676613744756 Long DBT CORP US N 2 2054-12-15 Fixed 6.95000000 N N N N N N DELPHI FINANCIAL GROUP 5493001NGT0EEYMZG011 247131303 224200.00000000 NS USD 5554555.00000000 2.805544045723 Long EP CORP US N 2 N N N FMC CORP CKDHZ2X64EEBQCSP7013 302491AZ8 980000.00000000 PA USD 763809.84000000 0.385791867877 Long DBT CORP US N 2 2055-11-01 Fixed 8.45000000 N N N N N N FIRST CITIZENS BANCSHARE 549300N3Z00ZHE2XC526 31959XAG8 1175000.00000000 PA USD 1190875.43000000 0.601497954711 Long DBT CORP US N 2 N/A Fixed 7.00000000 N N N N N N WELLS FARGO & COMPANY PBLD0EJDB5FWOLXP3B76 94988U128 32938.00000000 NS USD 624833.86000000 0.315596643743 Long EP CORP US N 1 N N N LAND O'LAKES INC 4ONCJWH5BBCYSJIJYX61 514666AN6 1500000.00000000 PA USD 1307599.05000000 0.660453758927 Long DBT CORP US N 2 N/A Fixed 7.00000000 N N N N N N STANDARD CHARTERED PLC U4LOSYZ7YG4W3S5F2G91 853254BX7 450000.00000000 PA USD 422332.52000000 0.213315465739 Long DBT CORP GB N 2 N/A Fixed 4.75000000 N N N N N N BlackRock Liquidity Funds T-Fund 5493002L9DNZ83RX7V61 09248U718 5291437.53000000 NS USD 5291437.53000000 2.672646333613 Long STIV RF US N 1 N N N BARCLAYS PLC 213800LBQA1Y9L22JB70 06738EBT1 475000.00000000 PA USD 456095.67000000 0.230368857856 Long DBT CORP GB N 2 N/A Fixed 4.37500000 N N N N N N CAPITAL ONE FINANCIAL CO ZUE8T73ROZOF6FLBAR73 14040H824 17820.00000000 NS USD 340896.60000000 0.172183086914 Long EP CORP US N 1 N N N PNC FINANCIAL SERVICES CFGNEKW0P8842LEUIA51 693475BC8 400000.00000000 PA USD 389100.28000000 0.196530230368 Long DBT CORP US N 2 N/A Fixed 3.40000000 N N N N N N TORONTO-DOMINION BANK PT3QB789TSUIDF371261 89116CKP1 490000.00000000 PA USD 516836.81000000 0.261048533123 Long DBT CORP CA N 2 2084-07-31 Fixed 7.25000000 N N N N N N SCE TRUST VII N/A 783892201 43600.00000000 NS USD 1078228.00000000 0.544600988797 Long EP CORP US N 1 N N N FIFTH THIRD BANCORP THRNG6BD57P9QWTQLG42 316773886 64064.00000000 NS USD 1593271.68000000 0.804743831871 Long EP CORP US N 1 N N N BANCO SANTANDER SA 5493006QMFDDMYWIAM13 05971KAQ2 1400000.00000000 PA USD 1691174.80000000 0.854193610544 Long DBT CORP ES N 2 N/A Fixed 9.62500000 N N N N N N M&T BANK CORPORATION 549300WYXDDBYRASEG81 55261F872 23066.00000000 NS USD 578264.62000000 0.292075037783 Long EP CORP US N 1 N N N NORTHPOINTE BANCSHARES I 549300EYMKMD4WKEKP72 66661N308 67000.00000000 NS USD 1649875.00000000 0.833333540209 Long EP CORP US Y 2 N N N NISOURCE INC 549300D8GOWWH0SJB189 65473PAR6 740000.00000000 PA USD 771689.02000000 0.389771554194 Long DBT CORP US N 2 2054-11-30 Fixed 6.95000000 N N N N N N GOLDMAN SACHS GROUP INC 784F5XWPLTWKTBV3E584 38148BAE8 830000.00000000 PA USD 837540.55000000 0.423032430699 Long DBT CORP US N 2 N/A Fixed 7.37900000 N N N N N N NEXTERA ENERGY CAPITAL UMI46YPGBLUE4VGNNT48 65339KCW8 500000.00000000 PA USD 520161.50000000 0.262727797121 Long DBT CORP US N 2 2054-09-01 Fixed 6.70000000 N N N N N N BELL CANADA 5493000G3EFX9S7TDE29 0778FPAQ2 940000.00000000 PA USD 989717.54000000 0.499895338383 Long DBT CORP CA N 2 2055-09-15 Fixed 7.00000000 N N N N N N ENSTAR GROUP LTD 213800AMAL5QFXVUCN04 29359U109 61000.00000000 NS USD 1448750.00000000 0.731747536254 Long EP CORP BM N 1 N N N ROYAL BANK OF CANADA ES7IP3U3RHIGC71XBU11 780082AY9 930000.00000000 PA USD 926959.09000000 0.468196742237 Long DBT CORP CA N 2 2085-11-24 Fixed 6.50000000 N N N N N N ATHENE HOLDING LTD 549300H316CT32FQXI76 04686J408 28800.00000000 NS USD 490464.00000000 0.247727919669 Long EP CORP US N 1 N N N AMERICAN EXPRESS CO R4PP93JZOLY261QX3811 025816CH0 775000.00000000 PA USD 761912.42000000 0.384833502106 Long DBT CORP US N 2 N/A Fixed 3.55000000 N N N N N N JPMORGAN CHASE & CO 8I5DZWZKVSZI1NUHU748 48128BAQ4 1700000.00000000 PA USD 1794936.50000000 0.906602492913 Long DBT CORP US N 2 N/A Fixed 6.87500000 N N N N N N CMS ENERGY CORP 549300IA9XFBAGNIBW29 125896BY5 470000.00000000 PA USD 486904.49000000 0.245930050698 Long DBT CORP US N 2 2055-06-01 Fixed 6.50000000 N N N N N N BANCO MERCANTIL DE NORTE 549300QTVYRPFHS0J362 05971PAB4 727000.00000000 PA USD 738643.63000000 0.373080694683 Long DBT CORP MX N 2 N/A Fixed 7.50000000 N N N N N N WESTERN ALLIANCE BANCORP 5493003VJXZ5JXT9S762 957638406 25300.00000000 NS USD 560395.00000000 0.283049291167 Long EP CORP US N 1 N N N FLAGSTAR BANK NA SS1TRMSN6BRNMOREEV51 649445202 241200.00000000 NS USD 5383584.00000000 2.719188492300 Long EP CORP US N 1 N N N TEXAS CAPITAL BANCSHARES 549300466Q2SXRX0YM48 88224Q305 35900.00000000 NS USD 766824.00000000 0.387314286620 Long EP CORP US N 1 N N N PNC FINANCIAL SERVICES CFGNEKW0P8842LEUIA51 693475BD6 3280000.00000000 PA USD 3304422.88000000 1.669027300213 Long DBT CORP US N 2 N/A Fixed 6.00000000 N N N N N N MORGAN STANLEY IGJSJL3JD5P30I6NJZ34 61745VAB9 540000.00000000 PA USD 543566.16000000 0.274549230972 Long DBT CORP US N 2 N/A Floating 7.45942000 N N N N N N EUSHI FINANCE INC N/A 29882DAB9 1475000.00000000 PA USD 1561315.79000000 0.788603266711 Long DBT CORP US N 2 2054-12-15 Fixed 7.62500000 N N N N N N MORGAN STANLEY IGJSJL3JD5P30I6NJZ34 61762V606 126844.00000000 NS USD 3139389.00000000 1.585670520169 Long EP CORP US N 1 N N N BANCO MERCANTIL DE NORTE 549300QTVYRPFHS0J362 05973KAB3 800000.00000000 PA USD 781726.08000000 0.394841161736 Long DBT CORP MX N 2 N/A Fixed 6.62500000 N N N N N N ENBRIDGE INC 98TPTUM4IVMFCZBCUR27 29250NBT1 1000000.00000000 PA USD 1151131.00000000 0.581423484491 Long DBT CORP CA N 2 2084-01-15 Fixed 8.50000000 N N N N N N AES CORP/THE 2NUNNB7D43COUIRE5295 00130HCK9 975000.00000000 PA USD 995624.18000000 0.502878716652 Long DBT CORP US N 2 2055-01-15 Fixed 7.60000000 N N N N N N REINSURANCE GRP OF AMER LORM1GNEU1DKEW527V90 759351885 34725.00000000 NS USD 890001.75000000 0.449530000224 Long EP CORP US N 1 N N N SOCIETE GENERALE O2RNE8IBXP4R0TD8PU41 83367TBU2 6000000.00000000 PA USD 6035832.00000000 3.048631713716 Long DBT CORP FR N 2 N/A Fixed 6.75000000 N N N N N N HSBC HOLDINGS PLC MLU0ZO3ML4LN2LL2TL39 404280FA2 645000.00000000 PA USD 669677.70000000 0.338246769325 Long DBT CORP GB N 2 N/A Fixed 7.05000000 N N N N N N BANK OF MONTREAL NQQ6HPCNCCU6TUTQYE16 06368LQ58 940000.00000000 PA USD 1000701.44000000 0.505443184294 Long DBT CORP CA N 2 2084-05-26 Fixed 7.70000000 N N N N N N UNIVERSAL INSURANCE HLDS 529900GGAZ6WVUCWQM46 91359VAC1 500000.00000000 PA USD 495617.07000000 0.250330678100 Long DBT CORP US N 2 2026-11-30 Fixed 5.62500000 N N N N N N ALTAGAS LTD 2549008X5V70MOS4HM10 021361AD2 665000.00000000 PA USD 688470.51000000 0.347738808957 Long DBT CORP CA N 2 2054-10-15 Fixed 7.20000000 N N N N N N BARCLAYS PLC 213800LBQA1Y9L22JB70 06738EBX2 485000.00000000 PA USD 514696.07000000 0.259967269123 Long DBT CORP GB N 2 N/A Fixed 8.00000000 N N N N N N BNP PARIBAS R0MUWSFPU8MPRO8K5P83 05565ASK0 475000.00000000 PA USD 431105.77000000 0.217746736885 Long DBT CORP FR N 2 N/A Fixed 4.62500000 N N N N N N UBS GROUP AG 549300SZJ9VS8SGXAN81 902613AJ7 850000.00000000 PA USD 842679.97000000 0.425628294666 Long DBT CORP CH N 2 N/A Fixed 4.87500000 N N N N N N BANK OF AMERICA CORP 9DJT3UXIJIZJI4WXO774 06055HAB9 350000.00000000 PA USD 353678.85000000 0.178639259439 Long DBT CORP US N 2 N/A Fixed 6.12500000 N N N N N N AMERICAN INTL GROUP ODVCVCQG2BP6VHV36M30 026874BS5 2150000.00000000 PA USD 2418476.95000000 1.221545849629 Long DBT CORP US N 2 2058-05-15 Fixed 8.17500000 N N N N N N LLOYDS BANKING GROUP PLC 549300PPXHEU2JF0AM85 53944YAV5 1800000.00000000 PA USD 1945773.00000000 0.982788333985 Long DBT CORP GB N 2 N/A Fixed 8.00000000 N N N N N N BANCO BILBAO VIZCAYA ARG K8MS7FD7N5Z2WQ51AZ71 05946KAF8 3000000.00000000 PA USD 3027171.00000000 1.528990454579 Long DBT CORP ES N 2 N/A Fixed 6.12500000 N N N N N N ATHENE HOLDING LTD 549300H316CT32FQXI76 04686J861 123400.00000000 NS USD 3051682.00000000 1.541370688478 Long EP CORP US N 1 N N N THE FORTEGRA GROUP INC N/A 34962TAA9 580000.00000000 PA USD 583300.36000000 0.294618534133 Long DBT CORP US N 2 2064-11-15 Fixed 9.25000000 N N N N N N ARBOR REALTY TRUST INC 549300ASFUWYQO0RW077 038923876 9792.00000000 NS USD 173808.00000000 0.087788490616 Long EP CORP US N 1 N N N LINCOLN NATIONAL CORP EFQMQROEDSNBRIP7LE47 534187BR9 530000.00000000 PA USD 570896.92000000 0.288353694333 Long DBT CORP US N 2 N/A Fixed 9.25000000 N N N N N N EMERA INC NQZVQT2P5IUF2PGA1Q48 290876AD3 2940000.00000000 PA USD 2964055.08000000 1.497111304305 Long DBT CORP CA N 2 2076-06-15 Fixed 6.75000000 N N N N N N ENBRIDGE INC 98TPTUM4IVMFCZBCUR27 29250NCG8 2090000.00000000 PA USD 2215583.92000000 1.119066833356 Long DBT CORP CA N 2 2055-03-15 Fixed 7.37500000 N N N N N N CANADIAN IMPERIAL BANK 2IGI19DL77OX0HC3ZE78 13607P7Y4 815000.00000000 PA USD 841144.39000000 0.424852690261 Long DBT CORP CA N 2 2085-10-28 Fixed 7.00000000 N N N N N N ALGONQUIN PWR & UTILITY 549300K5VIUTJXQL7X75 015857AH8 800000.00000000 PA USD 788950.87000000 0.398490322932 Long DBT CORP CA N 2 2082-01-18 Fixed 4.75000000 N N N N N N FIRST CITIZENS BANCSHARE 549300N3Z00ZHE2XC526 319626305 19620.00000000 NS USD 425165.40000000 0.214746321967 Long EP CORP US N 1 N N N VALLEY NATIONAL BANCORP 549300ET52S1UBIB9762 919794404 8300.00000000 NS USD 216215.00000000 0.109207795376 Long EP CORP US N 1 N N N ENTERGY CORP 4XM3TW50JULSLG8BNC79 29364GAQ6 1350000.00000000 PA USD 1421192.25000000 0.717828422765 Long DBT CORP US N 2 2054-12-01 Fixed 7.12500000 N N N N N N JACKSON FINANCIAL INC 213800WXW2KG1N4CO374 46817M206 15800.00000000 NS USD 413644.00000000 0.208926990775 Long EP CORP US N 1 N N N LIBERTY MUTUAL INSURANCE CNC20I6IOMGF7KY49D67 53079QAD9 3000000.00000000 PA USD 3477269.22000000 1.756330067043 Long DBT CORP US N 2 2097-10-15 Fixed 7.69700000 N N N N N N DOMINION ENERGY INC ILUL7B6Z54MRYCF6H308 25746UDU0 1650000.00000000 PA USD 1803715.65000000 0.911036744083 Long DBT CORP US N 2 2054-06-01 Fixed 7.00000000 N N N N N N ENSTAR GROUP LTD 213800AMAL5QFXVUCN04 29359UAD1 575000.00000000 PA USD 600999.78000000 0.303558314619 Long DBT CORP BM N 2 2045-04-01 Fixed 7.50000000 N N N N N N GENERAL MOTORS FINL CO 5493008B6JBRUJ90QL97 37045XCA2 228000.00000000 PA USD 225917.84000000 0.114108592107 Long DBT CORP US N 2 N/A Fixed 5.75000000 N N N N N N NATWEST GROUP PLC 2138005O9XJIJN4JPN90 639057AQ1 285000.00000000 PA USD 319217.39000000 0.161233158696 Long DBT CORP GB N 2 N/A Fixed 8.12500000 N N N N N N ING GROEP NV 549300NYKK9MWM7GGW15 456837AY9 775000.00000000 PA USD 746102.81000000 0.376848243665 Long DBT CORP NL N 2 N/A Fixed 3.87500000 N N N N N N DOMINION ENERGY INC ILUL7B6Z54MRYCF6H308 25746UDV8 1070000.00000000 PA USD 1111847.70000000 0.561581925912 Long DBT CORP US N 2 2055-05-15 Fixed 6.62500000 N N N N N N MORGAN STANLEY IGJSJL3JD5P30I6NJZ34 61763E207 89000.00000000 NS USD 2250810.00000000 1.136859135169 Long EP CORP US N 1 N N N CITIGROUP INC 6SHGI4ZSSLCXXQSBB395 172967PE5 1420000.00000000 PA USD 1485558.56000000 0.750339131142 Long DBT CORP US N 2 N/A Fixed 7.62500000 N N N N N N ENERGY TRANSFER LP MTLVN9N7JE8MIBIJ1H73 29273VAX8 1100000.00000000 PA USD 1173832.00000000 0.592889507490 Long DBT CORP US N 2 2054-05-15 Fixed 8.00000000 N N N N N N KEYCORP RKPI3RZGV1V1FJTH5T61 493267843 84200.00000000 NS USD 2128576.00000000 1.075120099210 Long EP CORP US N 1 N N N PRUDENTIAL FINANCIAL INC 5PRBRS5FEH7NREC8OR45 744320BL5 400000.00000000 PA USD 427491.20000000 0.215921057719 Long DBT CORP US N 2 2053-03-01 Fixed 6.75000000 N N N N N N TRANSCANADA TRUST 549300Y0MFCAXLBWUV51 89356BAE8 560000.00000000 PA USD 556068.80000000 0.280864175591 Long DBT CORP CA N 2 2079-09-15 Fixed 5.50000000 N N N N N N COMPEER FINANCIAL ACA 54930020HTACTODKHT04 20453QAC6 415000.00000000 PA USD 418905.42000000 0.211584475588 Long DBT CORP US N 2 N/A Fixed 7.87500000 N N N N N N KEYCORP RKPI3RZGV1V1FJTH5T61 493267AK4 275000.00000000 PA USD 274790.15000000 0.138793453148 Long DBT CORP US N 2 N/A Fixed 5.00000000 N N N N N N METLIFE CAPITAL TRUST IV 0004254959 591560AA5 577000.00000000 PA USD 643271.91000000 0.324909498039 Long DBT CORP US N 2 2037-12-15 Fixed 7.87500000 N N N N N N LINCOLN NATIONAL CORP EFQMQROEDSNBRIP7LE47 534187885 21200.00000000 NS USD 567736.00000000 0.286757148744 Long EP CORP US N 1 N N N BANCO SANTANDER SA 5493006QMFDDMYWIAM13 05971KAH2 5200000.00000000 PA USD 5142292.48000000 2.597314825153 Long DBT CORP ES N 2 N/A Fixed 4.75000000 N N N N N N EXELON CORP 3SOUA6IRML7435B56G12 30161NBQ3 470000.00000000 PA USD 491849.64000000 0.248427791045 Long DBT CORP US N 2 2055-03-15 Fixed 6.50000000 N N N N N N GENERAL MOTORS FINL CO 5493008B6JBRUJ90QL97 37045XDB9 800000.00000000 PA USD 801001.60000000 0.404577012829 Long DBT CORP US N 2 N/A Fixed 5.70000000 N N N N N N CITIGROUP INC 6SHGI4ZSSLCXXQSBB395 172967PR6 850000.00000000 PA USD 857437.06000000 0.433081936944 Long DBT CORP US N 2 N/A Fixed 6.75000000 N N N N N N ATHENE HOLDING LTD 549300H316CT32FQXI76 04686J838 38520.00000000 NS USD 971474.40000000 0.490680930964 Long EP CORP US N 1 N N N COREBRIDGE FINANCIAL INC 549300XY1661QCIA7J65 21871XAU3 560000.00000000 PA USD 573039.60000000 0.289435938206 Long DBT CORP US N 2 N/A Fixed 6.87500000 N N N N N N HSBC HOLDINGS PLC MLU0ZO3ML4LN2LL2TL39 404280BP3 4265000.00000000 PA USD 4369321.90000000 2.206895969234 Long DBT CORP GB N 2 N/A Fixed 6.50000000 N N N N N N REGIONS FINANCIAL CORP CW05CS5KW59QTC0DG824 7591EP860 57000.00000000 NS USD 1459770.00000000 0.737313615874 Long EP CORP US N 1 N N N SYNCHRONY FINANCIAL 549300RS7EWPM9MA6C78 87165B202 55500.00000000 NS USD 1087800.00000000 0.549435699698 Long EP CORP US N 1 N N N ENSTAR FINANCE LLC N/A 29360AAB6 720000.00000000 PA USD 711987.77000000 0.359617115817 Long DBT CORP US N 2 2042-01-15 Fixed 5.50000000 N N N N N N ENERGY TRANSFER LP MTLVN9N7JE8MIBIJ1H73 29273VAM2 2426000.00000000 PA USD 2498571.36000000 1.262000646651 Long DBT CORP US N 2 N/A Fixed 7.12500000 N N N N N N CREDIT AGRICOLE SA 969500TJ5KRTCJQWXH05 225313AT2 695000.00000000 PA USD 721815.19000000 0.364580836523 Long DBT CORP FR N 2 N/A Fixed 7.12500000 N N N N N N CITIGROUP INC 6SHGI4ZSSLCXXQSBB395 17327CAV5 790000.00000000 PA USD 809528.80000000 0.408884006852 Long DBT CORP US N 2 N/A Fixed 6.95000000 N N N N N N GOLDMAN SACHS GROUP INC 784F5XWPLTWKTBV3E584 38141GB52 800000.00000000 PA USD 819734.40000000 0.414038742076 Long DBT CORP US N 2 N/A Fixed 6.12500000 N N N N N N BANCO MERCANTIL DE NORTE 549300QTVYRPFHS0J362 05962GAJ8 710000.00000000 PA USD 725725.08000000 0.366555678542 Long DBT CORP MX N 2 N/A Fixed 7.62500000 N N N N N N LIBERTY MUTUAL GROUP INC QUR0DG15Z6FFGYCHH861 53079EAN4 6351000.00000000 PA USD 7331051.14000000 3.702832517585 Long DBT CORP US N 2 2037-03-15 Fixed 7.80000000 N N N N N N FIRST HORIZON BANK COOWI3L2W9TPYR3WJX37 337158208 875.00000000 NS USD 656250.00000000 0.331464587173 Long EP CORP US N 2 N N N ADAMAS TRUST INC 549300JFGR0M7ULHWG48 649604865 30000.00000000 NS USD 673500.00000000 0.340177370607 Long EP CORP US N 1 N N N CARLYLE FINANCE LLC N/A 14314C105 15400.00000000 NS USD 270578.00000000 0.136665942960 Long EP CORP US N 1 N N N GOLDMAN SACHS GROUP INC 784F5XWPLTWKTBV3E584 38141GA38 405000.00000000 PA USD 430630.02000000 0.217506440843 Long DBT CORP US N 2 N/A Fixed 7.50000000 N N N N N N HUNTINGTON BANCSHARES 549300XTVCVV9I7B5T19 446150773 43600.00000000 NS USD 1124880.00000000 0.568164395915 Long EP CORP US N 1 N N N CITIGROUP INC 6SHGI4ZSSLCXXQSBB395 172967PC9 1550000.00000000 PA USD 1600991.90000000 0.808643229258 Long DBT CORP US N 2 N/A Fixed 7.37500000 N N N N N N NATWEST GROUP PLC 2138005O9XJIJN4JPN90 639057AD0 425000.00000000 PA USD 390689.92000000 0.197333139878 Long DBT CORP GB N 2 N/A Fixed 4.60000000 N N N N N N DUKE ENERGY CORP I1BZKREC126H0VB1BL91 26441CCG8 1200000.00000000 PA USD 1261124.40000000 0.636979929325 Long DBT CORP US N 2 2054-09-01 Fixed 6.45000000 N N N N N N SPIRE INC 549300NXSY15DRY2R511 84857LAE1 670000.00000000 PA USD 670920.51000000 0.338874498854 Long DBT CORP US N 2 2056-06-01 Fixed 6.45000000 N N N N N N BNP PARIBAS R0MUWSFPU8MPRO8K5P83 05565AS20 560000.00000000 PA USD 595829.36000000 0.300946792896 Long DBT CORP FR N 2 N/A Fixed 9.25000000 N N N N N N CREDIT AGRICOLE SA 969500TJ5KRTCJQWXH05 225313AP0 480000.00000000 PA USD 462848.02000000 0.233779394854 Long DBT CORP FR N 2 N/A Fixed 4.75000000 N N N N N N APOLLO GLOBAL MANAGEMENT 254900LMFT1CY9IYB476 03769M205 46420.00000000 NS USD 1228273.20000000 0.620387153026 Long EP CORP US N 1 N N N SOUTH BOW CAN INFRA HOLD 2549004FYUSYLPBT1G26 836720AJ1 685000.00000000 PA USD 728934.53000000 0.368176736095 Long DBT CORP CA N 2 2055-03-01 Fixed 7.50000000 N N N N N N VOYA FINANCIAL INC 549300T065Z4KJ686G75 929089209 33000.00000000 NS USD 802890.00000000 0.405530822697 Long EP CORP US N 1 N N N KKR REAL ESTATE FIN 549300K23AYZDZ2REL62 48251K209 95536.00000000 NS USD 1726335.52000000 0.871952899747 Long EP CORP US N 1 N N N SEMPRA PBBKGKLRK5S5C0Y4T545 816851BM0 1000000.00000000 PA USD 975099.70000000 0.492512029734 Long DBT CORP US N 2 2052-04-01 Fixed 4.12500000 N N N N N N SUNOCO LP 54930001NJU8E40NQ561 86765KAE9 615000.00000000 PA USD 626217.60000000 0.316295555450 Long DBT CORP US N 2 N/A Fixed 7.87500000 N N N N N N 2026-01-23 Flaherty & Crumrine Total Return Fund Inc Bradford Stone Bradford Stone Chief Financial Officer, Treasurer and Vice President