# EDGAR Filing Document

**Accession Number:** 0001424212
**File Stem:** 0000940400-26-024906
**Filing Date:** 2026-6
**Character Count:** 128486
**Document Hash:** e78324face833e0b06401e9af896bc0a
**Contains OCR:** False
**Source Format:** 

## Filing Content

## Filing Summary
**0000940400-26-024906.hdr.sgml**: 20260622

**ACCESSION NUMBER**: 0000940400-26-024906

**CONFORMED SUBMISSION TYPE**: NPORT-P

**PUBLIC DOCUMENT COUNT**: 1

**CONFORMED PERIOD OF REPORT**: 20260430

**FILED AS OF DATE**: 20260622

**DATE AS OF CHANGE**: 20260622

**PERIOD START**: 20261031

**FILER**: 

**COMPANY DATA:**
- **COMPANY CONFORMED NAME:** FIRST TRUST EXCHANGE-TRADED FUND III
- **CENTRAL INDEX KEY:** 0001424212

**ORGANIZATION NAME:**
- **EIN:** 000000000

**FILING VALUES:**
- **FORM TYPE:** NPORT-P
- **SEC ACT:** 1940 Act
- **SEC FILE NUMBER:** 811-22245
- **FILM NUMBER:** 261107145

**BUSINESS ADDRESS:**
- **STREET 1:** 120 EAST LIBERTY DRIVE
- **STREET 2:** SUITE 400
- **CITY:** WHEATON
- **STATE:** IL
- **ZIP:** 60187
- **BUSINESS PHONE:** 630-765-8000

**MAIL ADDRESS:**
- **STREET 1:** 120 EAST LIBERTY DRIVE
- **STREET 2:** SUITE 400
- **CITY:** WHEATON
- **STATE:** IL
- **ZIP:** 60187

**FORMER COMPANY:**
- **FORMER CONFORMED NAME:** First Trust Exchange-Traded Fund III
- **DATE OF NAME CHANGE:** 20160419

**FORMER COMPANY:**
- **FORMER CONFORMED NAME:** First Trust Exchange Traded Fund III
- **DATE OF NAME CHANGE:** 20080116

## Series and Classes Contracts Data

### First Trust Preferred Securities and Income ETF (Series ID: S000034980)

| Class ID   | Class Name                                      | Ticker Symbol   |
|:---|:---|:---|
| C000107588 | First Trust Preferred Securities and Income ETF | FPE             |

## Form NPORT-P: Monthly Portfolio Investments Report

### NPORT-P: Part A: General Information

**Item A.1. Information about the Registrant.**

- **a. Name of Registrant:** First Trust Exchange-Traded Fund III

- **b. Investment Company Act file number:** 811-22245

- **c. CIK number of Registrant:** 0001424212

- **d. LEI of Registrant:** 5493003Z20QMESC6XS29

- **e. Address and telephone number of Registrant.**

  - **Street Address 1:** 120 East Liberty Drive, Suite 400

  - **City:** Wheaton

  - **State:** IL

  - **Foreign country:** US

  - **Zip / Postal Code:** 60187

  - **Telephone number:** 630-765-8000

**Item A.2. Information about the Series.**

- **a. Name of Series:** First Trust Preferred Securities and Income ETF

- **b. EDGAR series identifier (if any):** S000034980

- **c. LEI of Series:** 54930020K2F7W4E0C531

**Item A.3. Reporting period.**

- **a. Date of fiscal year-end:** 2026-10-31

- **b. Date as of which information is reported:** 2026-04-30

**Item A.4. Final filing**

Does the Fund anticipate that this will be its final filing on Form N-PORT? **No**

### Fund Information

**Total Assets:** $6406921655.84

**Total Liabilities:** $41421140.19

**Net Assets:** $6365500515.65

**Cash Not Reported:** $42210437.09

**Currency Risk Metrics (dv01):**

- 

**Credit Spread Risk - Investment Grade (dv01):**

- **3-Month:** 4.16070000 | **1-Year:** 206380.00481000 | **5-Year:** 1353075.08565000 | **10-Year:** 1587361.51585000 | **30-Year:** 166810.63449000

**Credit Spread Risk - Non-Investment Grade (dv01):**

- **3-Month:** 247.49071000 | **1-Year:** 73868.49239000 | **5-Year:** 275104.93973000 | **10-Year:** 187143.17355000 | **30-Year:** 4119.31569000

**Monthly Return Information**

| Class               | Month 1 Return (%)   | Month 2 Return (%)   | Month 3 Return (%)   |
|:---|:---|:---|:---|
| Class ID C000107588 | 0.56%                | -2.57%               | 2.33%                |

**Monthly Gains & Losses**

| Period   | Net Realized Gain/Loss   | Net Unrealized Appreciation/Depreciation   |
|:---|:---|:---|
| Month 1  | $654227.69               | $-288983.33                                |
| Month 2  | $300154.58               | $-196771494.21                             |
| Month 3  | $9927931.12              | $109961178.63                              |

### Schedule of Portfolio Investments

| Name                                               | Title                                                                                                                                                  | Identifiers                                   | Payoff Profile   | Asset Category   | Issuer Category   | Country   |   Balance | Units   | Value (USD)   | % of Net Assets   | Maturity Date   | Coupon Type   | Annualized Rate (%)   | Restricted?   |   Fair Value Level | Lending Status   |
|:---|:---|:---|:---|:---|:---|:---|---:|:---|:---|:---|:---|:---|:---|:---|---:|:---|
| BNP PARIBAS SA                                     | BNP V7.375 PERP 144A                                                                                                                                   | CUSIP: 05602XJC3<br>LEI: R0MUWSFPU8MPRO8K5P83 | Long             | DBT              | CORP              | FR        |   9300000 | PA      | $9672325.50   | 0.15%             | N/A             | Fixed         | 7.38%                 | No            |                  2 | On Loan: No      |
| FARM CREDIT BANK OF TEXAS INC                      | FARMCB V7 PERP 6                                                                                                                                       | CUSIP: 30767EAF6<br>LEI: V1EBJIOLRNYDHDF63Z33 | Long             | EP               | USGSE             | US        |   7460000 | NS      | $7649021.48   | 0.12%             |  |  |  | No            |                  2 | On Loan: No      |
| BANK OF NEW YORK MELLON CORP (THE)                 | BK V5.95 PERP                                                                                                                                          | CUSIP: 064058AR1<br>LEI: WFLLPEPC7FZXENRZV188 | Long             | DBT              | CORP              | US        |  11900000 | PA      | $12072407.20  | 0.19%             | N/A             | Fixed         | 5.95%                 | No            |                  2 | On Loan: No      |
| WINTRUST FINANCIAL CORP                            | WINTRUST FINANCIAL CORP DEPOSITARY SHARES EACH REPRESENTING A 1/1,000TH INTEREST IN A SHARE OF 7.875% FIXED-RATE RESET NON-CUMULATIVE PERPETUAL PREFER | CUSIP: 97650W702<br>LEI: Q774KI4AW80FHFW33O61 | Long             | EP               | CORP              | US        |    596580 | NS      | $15803404.20  | 0.25%             |  |  |  | No            |                  1 | On Loan: No      |
| BARCLAYS PLC                                       | BACR V9.625 PERP                                                                                                                                       | CUSIP: 06738ECN3<br>LEI: 213800LBQA1Y9L22JB70 | Long             | DBT              | CORP              | GB        |  25750000 | PA      | $28752836.25  | 0.45%             | N/A             | Fixed         | 9.62%                 | No            |                  2 | On Loan: No      |
| STATE STREET CORP                                  | STT V6.7 PERP I                                                                                                                                        | CUSIP: 857477CH4<br>LEI: 549300ZFEEJ2IP5VME73 | Long             | DBT              | CORP              | US        |  12536000 | PA      | $12926371.04  | 0.20%             | N/A             | Fixed         | 6.70%                 | No            |                  2 | On Loan: No      |
| ALLIANZ SE                                         | ALVGR V6.55 PERP 144a                                                                                                                                  | CUSIP: 018820AE0<br>LEI: 529900K9B0N5BT694847 | Long             | DBT              | CORP              | DE        |  25000000 | PA      | $25308850.00  | 0.40%             | N/A             | Fixed         | 6.55%                 | No            |                  2 | On Loan: No      |
| EQUITABLE HOLDINGS INC                             | EQUITABLE HOLDINGS INC 5.25% DEPOSITARY SHARES EACH REPRESENTING A 1/1,000TH INTEREST IN A SHARE OF FIXED RATE NONCUMULATIVE PERPETUAL PREFERRED STOCK | CUSIP: 29452E200<br>LEI: 549300FIBAKMNHPZ4009 | Long             | EP               | CORP              | US        |   1386108 | NS      | $27403355.16  | 0.43%             |  |  |  | No            |                  1 | On Loan: No      |
| AMERICAN NATIONAL GROUP INC                        | AMERICAN NATIONAL GROUP INC DEPOSITARY SHARE REPRESENTING 1/1000TH, 7.375% FIXED-RATE NON-CUMULATIVE PREFERRED STOCK SERIES D                          | CUSIP: 025676859<br>LEI: 549300RK5RZQ740FPL83 | Long             | EP               | CORP              | US        |   1126221 | NS      | $27919018.59  | 0.44%             |  |  |  | No            |                  1 | On Loan: No      |
| AGNC INVESTMENT CORP                               | AGNC INVESTMENT CORP DEP SHS EACH REP 1/1,000TH OF A SHARE OF 6.50% SER E FIX TO FLTNG RATE CUM RED PFD STK                                            | CUSIP: 00123Q807<br>LEI: 5TRACI5HRMELWV32OF39 | Long             | EP               | CORP              | US        |     86189 | NS      | $2196095.72   | 0.03%             |  |  |  | No            |                  1 | On Loan: No      |
| BANCO BILBAO VIZCAYA ARGENTARIA SA                 | BBVASM V7.75 PERP                                                                                                                                      | CUSIP: 05946KAS0<br>LEI: K8MS7FD7N5Z2WQ51AZ71 | Long             | DBT              | CORP              | ES        |  22600000 | PA      | $23982103.00  | 0.38%             | N/A             | Fixed         | 7.75%                 | No            |                  2 | On Loan: No      |
| FORD MOTOR CO                                      | FORD MOTOR CO 6.000% NOTES DUE DECEMBER 1, 2059                                                                                                        | CUSIP: 345370837<br>LEI: 20S05OYHG0MQM4VUIC57 | Long             | EP               | CORP              | US        |    566651 | NS      | $11718342.68  | 0.18%             |  |  |  | No            |                  1 | On Loan: No      |
| CHARLES SCHWAB CORP (THE)                          | SCHW V6.1 PERP L                                                                                                                                       | CUSIP: 808513CM5<br>LEI: 549300VSGCJ7E698NM85 | Long             | DBT              | CORP              | US        |  24600000 | PA      | $24618779.89  | 0.39%             | N/A             | Fixed         | 6.10%                 | No            |                  2 | On Loan: No      |
| TRANSCANADA PIPELINES LTD                          | TRANSCANADA PIPELINES LTD CALLABLE JUNIOR SUBORDINATED NOTES DUE 01 NOV 2085                                                                           | CUSIP: 893526681<br>LEI: 5BV01I6231JPDAPMGH09 | Long             | EP               | CORP              | CA        |    568311 | NS      | $13599682.23  | 0.21%             |  |  |  | No            |                  1 | On Loan: No      |
| TPG OPERATING GROUP II LP                          | TPG OPERATING GROUP II LP FIXED-RATE JUNIOR SUBORDINATED NOTES DUE ON MARCH 15, 2064                                                                   | CUSIP: 872652102<br>LEI: 2549001H9RJQNZT7MU11 | Long             | EP               | CORP              | US        |   1275749 | NS      | $31829937.55  | 0.50%             |  |  |  | No            |                  1 | On Loan: No      |
| ARCH CAPITAL GROUP LTD                             | ARCH CAPITAL GROUP LTD DEPOSITARY SHARES EACH REPRESENTING A 1/1,000TH INTEREST IN A SHARE OF THE ISSUERS 4.550% NON-CUMULATIVE PREFERRED SHARES, SERI | CUSIP: 03939A404<br>LEI: 549300AYR4P8AFKDCE43 | Long             | EP               | CORP              | BM        |    361020 | NS      | $6234815.40   | 0.10%             |  |  |  | No            |                  1 | On Loan: No      |
| ENBRIDGE INC                                       | ENBCN V7.625 01/15/83                                                                                                                                  | CUSIP: 29250NBP9<br>LEI: 98TPTUM4IVMFCZBCUR27 | Long             | DBT              | CORP              | CA        |  28420000 | PA      | $30872816.52  | 0.49%             | 2083-01-15      | Fixed         | 7.62%                 | No            |                  2 | On Loan: No      |
| WELLS FARGO & COMPANY                              | WFC V6.125 PERP GG                                                                                                                                     | CUSIP: 95002YAE3<br>LEI: PBLD0EJDB5FWOLXP3B76 | Long             | DBT              | CORP              | US        |  38615000 | PA      | $38761196.39  | 0.61%             | N/A             | Fixed         | 6.12%                 | No            |                  2 | On Loan: No      |
| FARM CREDIT BANK OF TEXAS INC                      | FARMCB V7.75 PERP                                                                                                                                      | CUSIP: 30767EAE9<br>LEI: V1EBJIOLRNYDHDF63Z33 | Long             | EP               | USGSE             | US        |   6200000 | NS      | $6468095.01   | 0.10%             |  |  |  | No            |                  2 | On Loan: No      |
| BANCO DE CREDITO E INVERSIONES SA                  | BCICI V8.75 PERP REGS                                                                                                                                  | CUSIP: 05890PAC0<br>LEI: 549300E9E5Y3PKW24142 | Long             | DBT              | CORP              | CL        |   5000000 | PA      | $5372900.00   | 0.08%             | N/A             | Fixed         | 8.75%                 | No            |                  2 | On Loan: No      |
| SOCIETE GENERALE SA                                | SOCGEN V9.375 PERP 144A                                                                                                                                | CUSIP: 83370RAC2<br>LEI: O2RNE8IBXP4R0TD8PU41 | Long             | DBT              | CORP              | FR        |  33820000 | PA      | $35687134.56  | 0.56%             | N/A             | Fixed         | 9.38%                 | No            |                  2 | On Loan: No      |
| CAPITAL FARM CREDIT ACA                            | CFCFCS V8.393 PERP 1                                                                                                                                   | CUSIP: 14019TAA4<br>LEI: 254900S6K5I3OISPS518 | Long             | DBT              | CORP              | US        |  28250000 | PA      | $28138695.00  | 0.44%             | N/A             | Floating      | 8.40%                 | No            |                  2 | On Loan: No      |
| BROOKFIELD BRP HOLDINGS (CANADA) INC               | BROOKFIELD BRP HOLDINGS (CANADA) INC 4.625% PERPETUAL SUBORDINATED NOTES                                                                               | CUSIP: 11259P109<br>LEI: 549300NSPD7QJ50GZW26 | Long             | EP               | CORP              | CA        |    891011 | NS      | $13480996.43  | 0.21%             |  |  |  | No            |                  1 | On Loan: No      |
| WELLS FARGO & COMPANY                              | WELLS FARGO & COMPANY DEPOSITARY SHARES, EACH REPRESENTING A 1/1,000TH INTEREST IN A SHARE OF NON-CUMULATIVE PERPETUAL CLASS A PREFERRED STOCK, SERIES | CUSIP: 94988U151<br>LEI: PBLD0EJDB5FWOLXP3B76 | Long             | EP               | CORP              | US        |    113350 | NS      | $2159317.50   | 0.03%             |  |  |  | No            |                  1 | On Loan: No      |
| BANK OF AMERICA CORP                               | BANK OF AMERICA CORP DEPOSITARY SHARES, EACH REPRESENTING A 1/1,000TH INTEREST IN A SHARE OF BANK OF AMERICA CORPORATION 4.375% NON-CUMULATIVE PREFERR | CUSIP: 06055H400<br>LEI: 9DJT3UXIJIZJI4WXO774 | Long             | EP               | CORP              | US        |    110067 | NS      | $1939380.54   | 0.03%             |  |  |  | No            |                  1 | On Loan: No      |
| NOMURA HOLDINGS INC                                | NOMURA V7 PERP                                                                                                                                         | CUSIP: 65535HCC1<br>LEI: 549300B3CEAHYG7K8164 | Long             | DBT              | CORP              | JP        |  31200000 | PA      | $32230161.60  | 0.51%             | N/A             | Fixed         | 7.00%                 | No            |                  2 | On Loan: No      |
| NORDEA BANK ABP                                    | NDAFH V6.75 PERP 144A                                                                                                                                  | CUSIP: 65558RAQ2<br>LEI: 529900ODI3047E2LIV03 | Long             | DBT              | CORP              | FI        |  12520000 | PA      | $12795264.72  | 0.20%             | N/A             | Fixed         | 6.75%                 | No            |                  2 | On Loan: No      |
| BANCO SANTANDER SA                                 | SANTAN V9.625 PERP *                                                                                                                                   | CUSIP: 05971KAP4<br>LEI: 5493006QMFDDMYWIAM13 | Long             | DBT              | CORP              | ES        |  21600000 | PA      | $23732006.40  | 0.37%             | N/A             | Fixed         | 9.62%                 | No            |                  2 | On Loan: No      |
| GOLDMAN SACHS GROUP INC (THE)                      | GS V6.85 PERP Z                                                                                                                                        | CUSIP: 38141GC28<br>LEI: 784F5XWPLTWKTBV3E584 | Long             | DBT              | CORP              | US        |   9736000 | PA      | $10036754.78  | 0.16%             | N/A             | Fixed         | 6.85%                 | No            |                  2 | On Loan: No      |
| MEIJI YASUDA LIFE INSURANCE COMPANY                | MYLIFE V6.1 06/11/55 144A                                                                                                                              | CUSIP: 585270AE1<br>LEI: 549300SLU4LP6YMRLK07 | Long             | DBT              | CORP              | JP        |  35800000 | PA      | $36504902.00  | 0.57%             | 2055-06-11      | Fixed         | 6.10%                 | No            |                  2 | On Loan: No      |
| CITIGROUP INC                                      | C V6.875 PERP GG                                                                                                                                       | CUSIP: 17327CBC6<br>LEI: 6SHGI4ZSSLCXXQSBB395 | Long             | DBT              | CORP              | US        |  35958000 | PA      | $36531602.02  | 0.57%             | N/A             | Fixed         | 6.88%                 | No            |                  2 | On Loan: No      |
| TORONTO DOMINION BANK (THE)                        | TD V6.35 10/31/85                                                                                                                                      | CUSIP: 89116C4H7<br>LEI: PT3QB789TSUIDF371261 | Long             | DBT              | CORP              | CA        |  22000000 | PA      | $22161766.00  | 0.35%             | 2085-10-31      | Fixed         | 6.35%                 | No            |                  2 | On Loan: No      |
| F&G ANNUITIES & LIFE INC                           | F&G ANNUITIES & LIFE INC CALLABLE FIXED FOR LIFE JUNIOR SUBORDINATED NOTES DUE JANUARY 15, 2065                                                        | CUSIP: 30190A609<br>LEI: N/A                  | Long             | EP               | CORP              | US        |   2796578 | NS      | $60098461.22  | 0.94%             |  |  |  | No            |                  1 | On Loan: No      |
| HSBC HOLDINGS PLC                                  | HSBC V6.95 PERP                                                                                                                                        | CUSIP: 404280EJ4<br>LEI: MLU0ZO3ML4LN2LL2TL39 | Long             | DBT              | CORP              | GB        |  48450000 | PA      | $50199674.85  | 0.79%             | N/A             | Fixed         | 6.95%                 | No            |                  2 | On Loan: No      |
| AES CORP (THE)                                     | AES V6.95 07/15/55                                                                                                                                     | CUSIP: 00130HCL7<br>LEI: 2NUNNB7D43COUIRE5295 | Long             | DBT              | CORP              | US        |  36425000 | PA      | $35560751.31  | 0.56%             | 2055-07-15      | Fixed         | 6.95%                 | No            |                  2 | On Loan: No      |
| CMS ENERGY CORP                                    | CMS ENERGY CORP 5.875% OF JUNIOR SUBORDINATED PREFERRED SECURITIES DUE ON 10/15/2078                                                                   | CUSIP: 125896852<br>LEI: 549300IA9XFBAGNIBW29 | Long             | EP               | CORP              | US        |    981724 | NS      | $22402941.68  | 0.35%             |  |  |  | No            |                  1 | On Loan: No      |
| NISOURCE INC                                       | NI V6.375 03/31/55                                                                                                                                     | CUSIP: 65473PAT2<br>LEI: 549300D8GOWWH0SJB189 | Long             | DBT              | CORP              | US        |  21700000 | PA      | $22355057.90  | 0.35%             | 2055-03-31      | Fixed         | 6.38%                 | No            |                  2 | On Loan: No      |
| XCEL ENERGY INC                                    | XCEL ENERGY INC 6.25% NOTES ISSUED DUE ON OCTOBER 15, 2085                                                                                             | CUSIP: 98389B878<br>LEI: LGJNMI9GH8XIDG5RCM61 | Long             | EP               | CORP              | US        |   3263139 | NS      | $79685854.38  | 1.25%             |  |  |  | No            |                  1 | On Loan: No      |
| HSBC HOLDINGS PLC                                  | HSBC V6.875 PERP ***                                                                                                                                   | CUSIP: 404280EH8<br>LEI: MLU0ZO3ML4LN2LL2TL39 | Long             | DBT              | CORP              | GB        |  10380000 | PA      | $10668916.92  | 0.17%             | N/A             | Fixed         | 6.88%                 | No            |                  2 | On Loan: No      |
| BANK OF AMERICA CORP                               | BANK OF AMERICA CORP DEPOSITARY SHARES EACH REPRESENTING A 1/1,000TH INTEREST IN A SHARE OF BANK OF AMERICA CORPORATION 4.750% NON-CUMULATIVE PREFERRE | CUSIP: 06055H871<br>LEI: 9DJT3UXIJIZJI4WXO774 | Long             | EP               | CORP              | US        |     16079 | NS      | $313218.92    | 0.00%             |  |  |  | No            |                  1 | On Loan: No      |
| BROOKFIELD PROPERTY PARTNERS LP                    | BROOKFIELD PROPERTY PARTNERS LP 5.750% CLASS A CUMULATIVE REDEEMABLE PERPETUAL PREFERRED UNITS SERIES 3                                                | CUSIP: 000000000<br>LEI: 5493004J5Z0TZW83NU62 | Long             | EP               | CORP              | BM        |   1286590 | NS      | $17999394.10  | 0.28%             |  |  |  | No            |                  1 | On Loan: No      |
| WELLS FARGO & COMPANY                              | WFC V6.85 PERP                                                                                                                                         | CUSIP: 95002YAC7<br>LEI: PBLD0EJDB5FWOLXP3B76 | Long             | DBT              | CORP              | US        |  23948000 | PA      | $24926946.34  | 0.39%             | N/A             | Fixed         | 6.85%                 | No            |                  2 | On Loan: No      |
| LAND O'LAKES INC                                   | LLAKES 7.25 PERP 144a                                                                                                                                  | CUSIP: 514666AM8<br>LEI: 4ONCJWH5BBCYSJIJYX61 | Long             | DBT              | CORP              | US        |  14010000 | PA      | $12924225.00  | 0.20%             | N/A             | Fixed         | 7.25%                 | No            |                  2 | On Loan: No      |
| US BANCORP                                         | US BANCORP DEP SHS EA REP A 1/1000 TH INT IN SHS SER K NON CUM PER PFD STK                                                                             | CUSIP: 902973759<br>LEI: N1GZ7BBF3NP8GI976H15 | Long             | EP               | CORP              | US        |    115824 | NS      | $2559710.40   | 0.04%             |  |  |  | No            |                  1 | On Loan: No      |
| AGNC INVESTMENT CORP                               | AGNC INVESTMENT CORP DEPOSITARY SHARES EACH REPRESENTING 1/1,000TH OF A SHARE OF 6.125% SERIES F FIXED-TO-FLOATING RATE CUMULATIVE REDEEMABLE PREFERRE | CUSIP: 00123Q872<br>LEI: 5TRACI5HRMELWV32OF39 | Long             | EP               | CORP              | US        |    518602 | NS      | $12913189.80  | 0.20%             |  |  |  | No            |                  1 | On Loan: No      |
| GOLDMAN SACHS GROUP INC (THE)                      | GS V7.5 PERP X                                                                                                                                         | CUSIP: 38141GA79<br>LEI: 784F5XWPLTWKTBV3E584 | Long             | DBT              | CORP              | US        |  63323000 | PA      | $66220217.22  | 1.04%             | N/A             | Fixed         | 7.50%                 | No            |                  2 | On Loan: No      |
| TORONTO DOMINION BANK (THE)                        | TD V8.125 10/31/82                                                                                                                                     | CUSIP: 89117F8Z5<br>LEI: PT3QB789TSUIDF371261 | Long             | DBT              | CORP              | CA        |  43430000 | PA      | $45202595.45  | 0.71%             | 2082-10-31      | Fixed         | 8.12%                 | No            |                  2 | On Loan: No      |
| ANNALY CAPITAL MANAGEMENT INC                      | ANNALY CAPITAL MANAGEMENT INC 6.95% SERIES F FIXED-TO-FLOATING RATE CUMULATIVE REDEEMABLE PREFERRED STOCK                                              | CUSIP: 035710870<br>LEI: 2DTL0G3FPRYUT58TI025 | Long             | EP               | CORP              | US        |    471931 | NS      | $12251328.76  | 0.19%             |  |  |  | No            |                  1 | On Loan: No      |
| DIGITALBRIDGE GROUP INC                            | DIGITALBRIDGE GROUP INC CUM RED PERP PFD SHS SER J                                                                                                     | CUSIP: 25401T306<br>LEI: 549300XG87L902AGBO89 | Long             | EP               | CORP              | US        |    371318 | NS      | $6472072.74   | 0.10%             |  |  |  | No            |                  1 | On Loan: No      |
| DOMINION ENERGY INC                                | D V6.2 02/15/56                                                                                                                                        | CUSIP: 25746UEA3<br>LEI: ILUL7B6Z54MRYCF6H308 | Long             | DBT              | CORP              | US        |  40235000 | PA      | $40329431.55  | 0.63%             | 2056-02-15      | Fixed         | 6.20%                 | No            |                  2 | On Loan: No      |
| BANK OF NOVA SCOTIA (THE)                          | BNS V8 01/27/84                                                                                                                                        | CUSIP: 0641598V1<br>LEI: L3I9ZG2KFGXZ61BMYR72 | Long             | DBT              | CORP              | CA        |  44149000 | PA      | $46844649.64  | 0.74%             | 2084-01-27      | Fixed         | 8.00%                 | No            |                  2 | On Loan: No      |
| REINSURANCE GROUP OF AMERICA INC                   | REINSURANCE GROUP OF AMERICA INC 5.75% FIXED-TO-FLOATING RATE SUBORDINATED DEBENTURES DUE 2056                                                         | CUSIP: 759351802<br>LEI: LORM1GNEU1DKEW527V90 | Long             | EP               | CORP              | US        |      5494 | NS      | $138668.56    | 0.00%             |  |  |  | No            |                  1 | On Loan: No      |
| HARTFORD INSURANCE GROUP INC (THE)                 | HIG F 02/12/47 ICON                                                                                                                                    | CUSIP: 416515BC7<br>LEI: IU7C3FTM7Y3BQM112U94 | Long             | DBT              | CORP              | US        |  69648000 | PA      | $67191726.77  | 1.06%             | 2047-02-12      | Floating      | 6.04%                 | No            |                  2 | On Loan: No      |
| BANCO BILBAO VIZCAYA ARGENTARIA SA                 | BBVASM V9.375 PERP                                                                                                                                     | CUSIP: 05946KAM3<br>LEI: K8MS7FD7N5Z2WQ51AZ71 | Long             | DBT              | CORP              | ES        |  25200000 | PA      | $27758505.60  | 0.44%             | N/A             | Fixed         | 9.38%                 | No            |                  2 | On Loan: No      |
| NEXTERA ENERGY CAPITAL HOLDINGS INC                | NEE V6.75 06/15/54                                                                                                                                     | CUSIP: 65339KDB3<br>LEI: UMI46YPGBLUE4VGNNT48 | Long             | DBT              | CORP              | US        |  35006000 | PA      | $36674175.92  | 0.58%             | 2054-06-15      | Fixed         | 6.75%                 | No            |                  2 | On Loan: No      |
| METLIFE INC                                        | METLIFE INC 4.75% DEPOSITARY SHARES EACH REPRESENTING A 1/1,000TH INTEREST IN A SHARE OF FIXED RATE NON-CUMULATIVE PERPETUAL PREFERRED STOCK, SERIES F | CUSIP: 59156R850<br>LEI: C4BXATY60WC6XEOZDX54 | Long             | EP               | CORP              | US        |     37114 | NS      | $712217.66    | 0.01%             |  |  |  | No            |                  1 | On Loan: No      |
| BANCO SANTANDER SA                                 | SANTAN V8 PERP                                                                                                                                         | CUSIP: 05964HBH7<br>LEI: 5493006QMFDDMYWIAM13 | Long             | DBT              | CORP              | ES        |  33100000 | PA      | $35966095.90  | 0.57%             | N/A             | Fixed         | 8.00%                 | No            |                  2 | On Loan: No      |
| ASSURANT INC                                       | ASSURANT INC 5.25% SUBORDINATED NOTES DUE JANUARY 15, 2061                                                                                             | CUSIP: 04621X306<br>LEI: H3F39CAXWQRVWURFXL38 | Long             | EP               | CORP              | US        |    772426 | NS      | $15124101.08  | 0.24%             |  |  |  | No            |                  1 | On Loan: No      |
| FIFTH THIRD BANCORP                                | FIFTH THIRD BANCORP DEPOSITARY SHARES REPRESENTING A 1/40TH OWNERSHIP INTEREST IN A SHARE OF 6.875% FIXED-RATE RESET NON-CUMULATIVE PERPETUAL PREFERRE | CUSIP: 316773837<br>LEI: THRNG6BD57P9QWTQLG42 | Long             | EP               | CORP              | US        |      7229 | NS      | $186580.49    | 0.00%             |  |  |  | No            |                  1 | On Loan: No      |
| BROOKFIELD PROPERTY PARTNERS LP                    | BROOKFIELD PROPERTY PARTNERS LP 6.375% CLASS A CUMULATIVE REDEEMABLE PERPETUAL PREFERRED UNITS, SERIES 2                                               | CUSIP: 000000000<br>LEI: 5493004J5Z0TZW83NU62 | Long             | EP               | CORP              | BM        |    761726 | NS      | $11662025.06  | 0.18%             |  |  |  | No            |                  1 | On Loan: No      |
| KUVARE UNITED STATES HOLDINGS INC                  | KUVARE V7 02/17/51 144A                                                                                                                                | CUSIP: 50149XAA2<br>LEI: 254900MGBERNLZXF7O58 | Long             | DBT              | CORP              | US        |  26429000 | PA      | $26309939.47  | 0.41%             | 2051-02-17      | Fixed         | 7.00%                 | No            |                  2 | On Loan: No      |
| COMPEER FINANCIAL ACA                              | CMPFIN V4.875 PERP QIB                                                                                                                                 | CUSIP: 20453QAA0<br>LEI: 54930020HTACTODKHT04 | Long             | DBT              | CORP              | US        |  13950000 | PA      | $13754560.50  | 0.22%             | N/A             | Fixed         | 4.88%                 | No            |                  2 | On Loan: No      |
| BANK OF AMERICA CORP                               | BAC V6.625 PERP                                                                                                                                        | CUSIP: 06055HAH6<br>LEI: 9DJT3UXIJIZJI4WXO774 | Long             | DBT              | CORP              | US        | 155649000 | PA      | $160635060.07 | 2.52%             | N/A             | Fixed         | 6.62%                 | No            |                  2 | On Loan: No      |
| BARCLAYS PLC                                       | BACR V7.625 PERP                                                                                                                                       | CUSIP: 06738EDC6<br>LEI: 213800LBQA1Y9L22JB70 | Long             | DBT              | CORP              | GB        |  17900000 | PA      | $18862483.00  | 0.30%             | N/A             | Fixed         | 7.62%                 | No            |                  2 | On Loan: No      |
| ROYAL BANK OF CANADA                               | RY V6.75 08/24/85                                                                                                                                      | CUSIP: 780082AV5<br>LEI: ES7IP3U3RHIGC71XBU11 | Long             | DBT              | CORP              | CA        |  58100000 | PA      | $59162939.50  | 0.93%             | 2085-08-24      | Fixed         | 6.75%                 | No            |                  2 | On Loan: No      |
| ALGONQUIN POWER & UTILITIES CORP                   | ALGONQUIN POWER & UTILITIES CORP FIXED-TO-FLOATING RATE SUBORDINATED NOTES SERIES 2019-A DUE JULY 1, 2079                                              | CUSIP: 015857808<br>LEI: 549300K5VIUTJXQL7X75 | Long             | EP               | CORP              | CA        |      1103 | NS      | $28821.39     | 0.00%             |  |  |  | No            |                  1 | On Loan: No      |
| COMMERZBANK AG                                     | CMZB V7.5 PERP EMTN                                                                                                                                    | CUSIP: 000000000<br>LEI: 851WYGNLUQLFZBSYGB56 | Long             | DBT              | CORP              | DE        |  36800000 | PA      | $38454531.31  | 0.60%             | N/A             | Fixed         | 7.50%                 | No            |                  2 | On Loan: No      |
| NIPPON LIFE INSURANCE COMPANY                      | NIPLIF V6.5 04/30/55 144a                                                                                                                              | CUSIP: 654579AP6<br>LEI: 549300Y0HHMFW3EVWY08 | Long             | DBT              | CORP              | JP        |  15499000 | PA      | $16343587.01  | 0.26%             | 2055-04-30      | Fixed         | 6.50%                 | No            |                  2 | On Loan: No      |
| AXIS CAPITAL HOLDINGS LTD                          | AXIS CAPITAL HOLDINGS LTD DEPOSITARY SHARES EACH REPRESENTING 1/100 TH INTEREST IN A 5.50% SERIES E PREFERRED SHARE                                    | CUSIP: 05461T305<br>LEI: 635400VD2NQBYAHMEM55 | Long             | EP               | CORP              | BM        |    452965 | NS      | $8891702.95   | 0.14%             |  |  |  | No            |                  1 | On Loan: No      |
| GLOBAL NET LEASE INC                               | GLOBAL NET LEASE INC 7.25% SERIES A CUMULATIVE REDEEMABLE PREFERRED STOCK                                                                              | CUSIP: 379378300<br>LEI: 549300NUYANCT5SU8Z65 | Long             | EP               | CORP              | US        |    493052 | NS      | $11142975.20  | 0.18%             |  |  |  | No            |                  1 | On Loan: No      |
| HSBC HOLDINGS PLC                                  | HSBC V7 PERP .                                                                                                                                         | CUSIP: 404280FJ3<br>LEI: MLU0ZO3ML4LN2LL2TL39 | Long             | DBT              | CORP              | GB        |  15400000 | PA      | $15719781.00  | 0.25%             | N/A             | Fixed         | 7.00%                 | No            |                  2 | On Loan: No      |
| TELUS CORP                                         | TCN V7 10/15/55                                                                                                                                        | CUSIP: 87971MCM3<br>LEI: 894500TX134IMF6NW757 | Long             | DBT              | CORP              | CA        |  26177000 | PA      | $27088169.02  | 0.43%             | 2055-10-15      | Fixed         | 7.00%                 | No            |                  2 | On Loan: No      |
| LLOYDS BANKING GROUP PLC                           | LLOYDS V6.625 PERP                                                                                                                                     | CUSIP: 539439BF5<br>LEI: 549300PPXHEU2JF0AM85 | Long             | DBT              | CORP              | GB        |   9300000 | PA      | $9136256.76   | 0.14%             | N/A             | Fixed         | 6.62%                 | No            |                  2 | On Loan: No      |
| SUMISHO AIR LEASE CORP                             | SUMIAL V6 PERP D                                                                                                                                       | CUSIP: 00912XBQ6<br>LEI: 5493004NW4M4P8TMMK63 | Long             | DBT              | CORP              | US        |  35083000 | PA      | $34192498.74  | 0.54%             | N/A             | Fixed         | 6.00%                 | No            |                  2 | On Loan: No      |
| SEMPRA                                             | SRE V6.4 10/01/54                                                                                                                                      | CUSIP: 816851BT5<br>LEI: PBBKGKLRK5S5C0Y4T545 | Long             | DBT              | CORP              | US        |  35416000 | PA      | $35707969.50  | 0.56%             | 2054-10-01      | Fixed         | 6.40%                 | No            |                  2 | On Loan: No      |
| ASPEN INSURANCE HOLDINGS LTD                       | ASPEN INSURANCE HOLDINGS LTD DEP SHS EACH REP 1/1,000TH INT IN A SHARE OF 5.625% PERP NON CUM PFD SHS                                                  | CUSIP: 000000000<br>LEI: 549300YX6HECG9XQCQ75 | Long             | EP               | CORP              | BM        |   2064581 | NS      | $44223325.02  | 0.69%             |  |  |  | No            |                  1 | On Loan: No      |
| HSBC HOLDINGS PLC                                  | HSBC V6.75 PERP                                                                                                                                        | CUSIP: 404280FH7<br>LEI: MLU0ZO3ML4LN2LL2TL39 | Long             | DBT              | CORP              | GB        |  15400000 | PA      | $15605063.47  | 0.25%             | N/A             | Fixed         | 6.75%                 | No            |                  2 | On Loan: No      |
| CITIGROUP INC                                      | C V7 PERP DD                                                                                                                                           | CUSIP: 172967PM7<br>LEI: 6SHGI4ZSSLCXXQSBB395 | Long             | DBT              | CORP              | US        |  20832000 | PA      | $21651468.38  | 0.34%             | N/A             | Fixed         | 7.00%                 | No            |                  2 | On Loan: No      |
| ALLIANZ SE                                         | ALVGR V6.5 PERP 144A                                                                                                                                   | CUSIP: 018820AF7<br>LEI: 529900K9B0N5BT694847 | Long             | DBT              | CORP              | DE        |   9200000 | PA      | $9209733.60   | 0.14%             | N/A             | Fixed         | 6.50%                 | No            |                  2 | On Loan: No      |
| PNC FINANCIAL SERVICES GROUP INC (THE)             | PNC V6.25 PERP W                                                                                                                                       | CUSIP: 693475BP9<br>LEI: CFGNEKW0P8842LEUIA51 | Long             | DBT              | CORP              | US        |  39711000 | PA      | $40381202.55  | 0.63%             | N/A             | Fixed         | 6.25%                 | No            |                  2 | On Loan: No      |
| AMERICAN NATIONAL GROUP INC                        | ANGINC V7 12/01/55                                                                                                                                     | CUSIP: 025676AR8<br>LEI: 549300RK5RZQ740FPL83 | Long             | DBT              | CORP              | US        |  18700000 | PA      | $18292598.06  | 0.29%             | 2055-12-01      | Fixed         | 7.00%                 | No            |                  2 | On Loan: No      |
| AGNC INVESTMENT CORP                               | AGNC INVESTMENT CORP DEPOSITARY SHARES EACH REPRESENTING 1/1,000 TH OF A SHARE OF 6.875% SERIES D FIXED TO FLOATING RATE CUMULATIVE REDEEMABLE PREFERR | CUSIP: 00123Q609<br>LEI: 5TRACI5HRMELWV32OF39 | Long             | EP               | CORP              | US        |    300535 | NS      | $7507364.30   | 0.12%             |  |  |  | No            |                  1 | On Loan: No      |
| LAND O'LAKES INC                                   | LLAKES 8 PERP 144A                                                                                                                                     | CUSIP: 514666AK2<br>LEI: 4ONCJWH5BBCYSJIJYX61 | Long             | DBT              | CORP              | US        |  31520000 | PA      | $31425131.10  | 0.49%             | N/A             | Fixed         | 8.00%                 | No            |                  2 | On Loan: No      |
| FORTEGRA FINANCIAL CORP                            | FRF V8.5 10/15/57 144A                                                                                                                                 | CUSIP: 34954WAA2<br>LEI: 5493004Z5XFZNDJRE757 | Long             | DBT              | CORP              | US        |  13700000 | PA      | $13467216.45  | 0.21%             | 2057-10-15      | Fixed         | 8.50%                 | Yes           |                  2 | On Loan: No      |
| BANK OF NOVA SCOTIA (THE)                          | BNS V7.35 04/27/85                                                                                                                                     | CUSIP: 0641598X7<br>LEI: L3I9ZG2KFGXZ61BMYR72 | Long             | DBT              | CORP              | CA        |  37800000 | PA      | $39150518.40  | 0.62%             | 2085-04-27      | Fixed         | 7.35%                 | No            |                  2 | On Loan: No      |
| PUBLIC STORAGE                                     | PUBLIC STORAGE DEPOSITARY SHARES EACH REPRESENTING 1/1000 OF A 4.625% CUMULATIVE PREFERRED SHARE OF BENEFICIAL INTEREST, SERIES L                      | CUSIP: 74460W552<br>LEI: 254900GLQZAD4N7N5Q19 | Long             | EP               | CORP              | US        |    267640 | NS      | $4940634.40   | 0.08%             |  |  |  | No            |                  1 | On Loan: No      |
| HUNTINGTON BANCSHARES INC                          | HBAN V6.25 PERP K                                                                                                                                      | CUSIP: 446150BG8<br>LEI: 549300XTVCVV9I7B5T19 | Long             | DBT              | CORP              | US        |  47511000 | PA      | $47608397.55  | 0.75%             | N/A             | Fixed         | 6.25%                 | No            |                  2 | On Loan: No      |
| NASSAU COMPANIES OF NEW YORK (THE)                 | NASSAU COMPANIES OF NEW YORK (THE) 7.45% QUARTERLY INTEREST BONDS DUE 2032                                                                             | CUSIP: 71902E208<br>LEI: 549300Q3ENSFI87YLC32 | Long             | EP               | CORP              | US        |    226438 | NS      | $4075884.00   | 0.06%             |  |  |  | No            |                  2 | On Loan: No      |
| BANK OF NEW YORK MELLON CORP (THE)                 | BANK OF NEW YORK MELLON CORP (THE) DEPOSITARY SHARES EACH REPRESENTING A 1/4,000TH INTEREST IN A SHARE OF SERIES K NONCUMULATIVE PERPETUAL PREFERRED S | CUSIP: 064058845<br>LEI: WFLLPEPC7FZXENRZV188 | Long             | EP               | CORP              | US        |    852268 | NS      | $21758402.04  | 0.34%             |  |  |  | No            |                  1 | On Loan: No      |
| STATE STREET CORP                                  | STT V6.7 PERP J                                                                                                                                        | CUSIP: 857477CM3<br>LEI: 549300ZFEEJ2IP5VME73 | Long             | DBT              | CORP              | US        |  27247000 | PA      | $28253967.38  | 0.44%             | N/A             | Fixed         | 6.70%                 | No            |                  2 | On Loan: No      |
| UBS Group AG                                       | CS 5.25 PERP 144A                                                                                                                                      | CUSIP: 225401AR9<br>LEI: 549300SZJ9VS8SGXAN81 | Long             | DBT              | CORP              | CH        |  81425000 | PA      | $28808165.00  | 0.45%             | N/A             | Fixed         | 5.25%                 | No            |                  3 | On Loan: No      |
| BROOKFIELD INFRASTRUCTURE FINANCE ULC              | BROOKFIELD INFRASTRUCTURE FINANCE ULC SUBORDINATED NOTES 05/24/2081                                                                                    | CUSIP: 11276B109<br>LEI: 984500CDDWC47U7DBA74 | Long             | EP               | CORP              | CA        |    661463 | NS      | $10874451.72  | 0.17%             |  |  |  | No            |                  1 | On Loan: No      |
| WELLS FARGO & COMPANY                              | WFC V7.625 PERP                                                                                                                                        | CUSIP: 95002YAA1<br>LEI: PBLD0EJDB5FWOLXP3B76 | Long             | DBT              | CORP              | US        |   5000000 | PA      | $5253495.00   | 0.08%             | N/A             | Fixed         | 7.62%                 | No            |                  2 | On Loan: No      |
| AMERICAN AGCREDIT ACA                              | AAGACA V5.25 PERP QIB                                                                                                                                  | CUSIP: 02369GAA3<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |  64250000 | PA      | $63677532.50  | 1.00%             | N/A             | Fixed         | 5.25%                 | No            |                  2 | On Loan: No      |
| BANK OF NOVA SCOTIA (THE)                          | BNS V6.875 10/27/85                                                                                                                                    | CUSIP: 06419GEE2<br>LEI: L3I9ZG2KFGXZ61BMYR72 | Long             | DBT              | CORP              | CA        |  21720000 | PA      | $21988950.07  | 0.35%             | 2085-10-27      | Fixed         | 6.88%                 | No            |                  2 | On Loan: No      |
| SEMPRA                                             | SRE V6.875 10/01/54                                                                                                                                    | CUSIP: 816851BS7<br>LEI: PBBKGKLRK5S5C0Y4T545 | Long             | DBT              | CORP              | US        |   2850000 | PA      | $2902214.85   | 0.05%             | 2054-10-01      | Fixed         | 6.88%                 | No            |                  2 | On Loan: No      |
| GLOBAL ATLANTIC (FIN) COMPANY                      | GBLATL V7.25 03/01/56 144A                                                                                                                             | CUSIP: 37959GAH0<br>LEI: 98450051B2E65CAA7E94 | Long             | DBT              | CORP              | US        |  41076000 | PA      | $40518508.31  | 0.64%             | 2056-03-01      | Fixed         | 7.25%                 | No            |                  2 | On Loan: No      |
| CITIGROUP INC                                      | C V7.2 PERP BB                                                                                                                                         | CUSIP: 172967PJ4<br>LEI: 6SHGI4ZSSLCXXQSBB395 | Long             | DBT              | CORP              | US        |  12438000 | PA      | $12696710.40  | 0.20%             | N/A             | Fixed         | 7.20%                 | No            |                  2 | On Loan: No      |
| SOCIETE GENERALE SA                                | SOCGEN V10 PERP 144A                                                                                                                                   | CUSIP: 83371GAA9<br>LEI: O2RNE8IBXP4R0TD8PU41 | Long             | DBT              | CORP              | FR        |  32870000 | PA      | $36029135.70  | 0.57%             | N/A             | Fixed         | 10.00%                | No            |                  2 | On Loan: No      |
| ALLSTATE CORP (THE)                                | ALLSTATE CORP (THE) DEP SHS REP 1/1000 NON CUM                                                                                                         | CUSIP: 020002838<br>LEI: OBT0W1ED8G0NWVOLOJ77 | Long             | EP               | CORP              | US        |    122810 | NS      | $2560588.50   | 0.04%             |  |  |  | No            |                  1 | On Loan: No      |
| F&G ANNUITIES & LIFE INC                           | F&G ANNUITIES & LIFE INC 7.95% SENIOR NOTES DUE 12/15/2053                                                                                             | CUSIP: 30190A203<br>LEI: N/A                  | Long             | EP               | CORP              | US        |   1782485 | NS      | $44473000.75  | 0.70%             |  |  |  | No            |                  1 | On Loan: No      |
| BROOKFIELD OAKTREE HOLDINGS LLC                    | BROOKFIELD OAKTREE HOLDINGS LLC 6.550% SERIES B PREFERRED UNITS                                                                                        | CUSIP: 674001409<br>LEI: 254900T1ODNFOK2L6090 | Long             | EP               | CORP              | US        |   1048947 | NS      | $21555860.85  | 0.34%             |  |  |  | No            |                  1 | On Loan: No      |
| CNO FINANCIAL GROUP INC                            | CNO FINANCIAL GROUP INC 5.125% SUBORDINATED DEBENTURES DUE NOVEMBER 25, 2060                                                                           | CUSIP: 12621E301<br>LEI: 11XPYHB76MPM4Y4P2897 | Long             | EP               | CORP              | US        |    805557 | NS      | $14379192.45  | 0.23%             |  |  |  | No            |                  1 | On Loan: No      |
| BANK OF MONTREAL                                   | BMO V7.3 11/26/84                                                                                                                                      | CUSIP: 06368L5Q5<br>LEI: NQQ6HPCNCCU6TUTQYE16 | Long             | DBT              | CORP              | CA        |  30189000 | PA      | $31819568.27  | 0.50%             | 2084-11-26      | Fixed         | 7.30%                 | No            |                  2 | On Loan: No      |
| BANK OF NOVA SCOTIA (THE)                          | BNS V8.625 10/27/82                                                                                                                                    | CUSIP: 0641598S8<br>LEI: L3I9ZG2KFGXZ61BMYR72 | Long             | DBT              | CORP              | CA        |  17184000 | PA      | $18050153.68  | 0.28%             | 2082-10-27      | Fixed         | 8.62%                 | No            |                  2 | On Loan: No      |
| CANADIAN IMPERIAL BANK OF COMMERCE                 | CM V6.95 01/28/85                                                                                                                                      | CUSIP: 13607PNF7<br>LEI: 2IGI19DL77OX0HC3ZE78 | Long             | DBT              | CORP              | CA        |  15000000 | PA      | $15301815.00  | 0.24%             | 2085-01-28      | Fixed         | 6.95%                 | No            |                  2 | On Loan: No      |
| JPMorgan Chase & Co.                               | JPMorgan Chase & Co. FXD-FRN PERP USD (SEC REGD) (PP)                                                                                                  | CUSIP: 48128BAR2<br>LEI: 8I5DZWZKVSZI1NUHU748 | Long             | DBT              | CORP              | US        |  21650000 | PA      | $21650000.00  | 0.34%             | N/A             | Fixed         | 6.10%                 | No            |                  2 | On Loan: No      |
| BBVA MEXICO SA TEXAS BRANCH                        | BBVASM V5.875 09/13/34 144A                                                                                                                            | CUSIP: 05533UAG3<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |  11600000 | PA      | $11582445.95  | 0.18%             | 2034-09-13      | Fixed         | 5.88%                 | No            |                  2 | On Loan: No      |
| ROGERS COMMUNICATIONS INC                          | RCICN V7.125 04/15/55                                                                                                                                  | CUSIP: 775109DH1<br>LEI: 5493000M6Z4XFIP6PF03 | Long             | DBT              | CORP              | CA        |  30470000 | PA      | $31452758.97  | 0.49%             | 2055-04-15      | Fixed         | 7.12%                 | No            |                  2 | On Loan: No      |
| ATHENE HOLDING LTD                                 | ATHENE HOLDING LTD DEP SHS EACH REP A 1/1,000TH INT IN A SHARE OF 5.625% FXD RAT PERP NON CUM PREFERENCE SHS SER B                                     | CUSIP: 04686J200<br>LEI: 549300H316CT32FQXI76 | Long             | EP               | CORP              | US        |     22322 | NS      | $431930.70    | 0.01%             |  |  |  | No            |                  1 | On Loan: No      |
| BANCO MERCANTIL DEL NORTE SA CAYMAN ISLANDS BRANCH | BANORT V8.75 PERP 144A                                                                                                                                 | CUSIP: 05971PAE8<br>LEI: N/A                  | Long             | DBT              | CORP              | KY        |  25000000 | PA      | $27068375.00  | 0.43%             | N/A             | Fixed         | 8.75%                 | No            |                  2 | On Loan: No      |
| ENBRIDGE INC                                       | ENBCN V8.5 01/15/84                                                                                                                                    | CUSIP: 29250NBT1<br>LEI: 98TPTUM4IVMFCZBCUR27 | Long             | DBT              | CORP              | CA        |  30188000 | PA      | $34401361.80  | 0.54%             | 2084-01-15      | Fixed         | 8.50%                 | No            |                  2 | On Loan: No      |
| SEMPRA                                             | SEMPRA 5.75% JUNIOR SUBORDINATED NOTES DUE JULY 1, 2079                                                                                                | CUSIP: 816851604<br>LEI: PBBKGKLRK5S5C0Y4T545 | Long             | EP               | CORP              | US        |    771364 | NS      | $16638321.48  | 0.26%             |  |  |  | No            |                  1 | On Loan: No      |
| AFFILIATED MANAGERS GROUP INC                      | AFFILIATED MANAGERS GROUP INC 4.200% JUNIOR SUBORDINATED NOTES DUE SEPTEMBER 30, 2061                                                                  | CUSIP: 008252835<br>LEI: 2JE75BUE3T1BLCYYGK54 | Long             | EP               | CORP              | US        |    857989 | NS      | $12921314.34  | 0.20%             |  |  |  | No            |                  1 | On Loan: No      |
| ENTERGY CORP                                       | ETR V6.1 06/15/56                                                                                                                                      | CUSIP: 29364GAS2<br>LEI: 4XM3TW50JULSLG8BNC79 | Long             | DBT              | CORP              | US        |  24750000 | PA      | $24676881.08  | 0.39%             | 2056-06-15      | Fixed         | 6.10%                 | No            |                  2 | On Loan: No      |
| GLOBAL ATLANTIC (FIN) COMPANY                      | GBLATL V7.95 10/15/54 144A                                                                                                                             | CUSIP: 37959GAG2<br>LEI: 98450051B2E65CAA7E94 | Long             | DBT              | CORP              | US        |  36675000 | PA      | $36868644.00  | 0.58%             | 2054-10-15      | Fixed         | 7.95%                 | No            |                  2 | On Loan: No      |
| PNC FINANCIAL SERVICES GROUP INC (THE)             | PNC V6.2 PERP V                                                                                                                                        | CUSIP: 693475BF1<br>LEI: CFGNEKW0P8842LEUIA51 | Long             | DBT              | CORP              | US        |  19095000 | PA      | $19232503.10  | 0.30%             | N/A             | Fixed         | 6.20%                 | No            |                  2 | On Loan: No      |
| PINNACLE FINANCIAL PARTNERS INC                    | PINNACLE FINANCIAL PARTNERS INC 6.75 DEP RP 1/40 NON SER C                                                                                             | CUSIP: 72348N505<br>LEI: N/A                  | Long             | EP               | CORP              | US        |    302285 | NS      | $7617582.00   | 0.12%             |  |  |  | No            |                  1 | On Loan: No      |
| AMERICAN ELECTRIC POWER COMPANY INC                | AEP V6.05 03/15/56 D                                                                                                                                   | CUSIP: 02557TAF6<br>LEI: 1B4S6S7G0TW5EE83BO58 | Long             | DBT              | CORP              | US        |  36830000 | PA      | $36730312.24  | 0.58%             | 2056-03-15      | Fixed         | 6.05%                 | No            |                  2 | On Loan: No      |
| BANK OF AMERICA CORP                               | BANK OF AMERICA CORP DEP SHS EACH REP A 1/1,000TH INT IN A SHARE OF BANK OF AMERICA CORP 5.375% NON-CUMULATIVE PREFERRED STOCK, SERIES KK              | CUSIP: 06053U601<br>LEI: 9DJT3UXIJIZJI4WXO774 | Long             | EP               | CORP              | US        |   1206694 | NS      | $26595535.76  | 0.42%             |  |  |  | No            |                  1 | On Loan: No      |
| WELLS FARGO & COMPANY                              | WELLS FARGO & COMPANY 7.5% NON-CUMULATIVE PERPETUAL CONVERTIBLE CLASS A PREFERRED STOCK, SERIES L                                                      | CUSIP: 949746804<br>LEI: PBLD0EJDB5FWOLXP3B76 | Long             | EP               | CORP              | US        |    110579 | NS      | $131678578.99 | 2.07%             |  |  |  | No            |                  1 | On Loan: No      |
| AT&T INC                                           | AT&T INC DEPOSITARY SHARES, EACH REPRESENTING A 1/1000TH INTEREST IN A SHARE OF 4.750% PERPETUAL PREFERRED STOCK, SERIES C                             | CUSIP: 00206R706<br>LEI: 549300Z40J86GGSTL398 | Long             | EP               | CORP              | US        |    567203 | NS      | $10640728.28  | 0.17%             |  |  |  | No            |                  1 | On Loan: No      |
| ARCH CAPITAL GROUP LTD                             | ARCH CAPITAL GROUP LTD DEPOSITARY SHARES EACH REPRESENTING 1/1,000 TH INTEREST IN A SHARE OF5.45 % NON-CUMULATIVE PREFERRED SHARES, SERIES F           | CUSIP: 03939A107<br>LEI: 549300AYR4P8AFKDCE43 | Long             | EP               | CORP              | BM        |     55629 | NS      | $1135387.89   | 0.02%             |  |  |  | No            |                  1 | On Loan: No      |
| EUSHI FINANCE INC                                  | EMACN V7.625 12/15/54                                                                                                                                  | CUSIP: 29882DAB9<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |  21680000 | PA      | $22458235.25  | 0.35%             | 2054-12-15      | Fixed         | 7.62%                 | No            |                  2 | On Loan: No      |
| PRUDENTIAL FINANCIAL INC                           | PRUDENTIAL FINANCIAL INC 5.625% JUNIOR SUBORDINATED NOTES DUE 2058                                                                                     | CUSIP: 744320805<br>LEI: 5PRBRS5FEH7NREC8OR45 | Long             | EP               | CORP              | US        |     14342 | NS      | $334455.44    | 0.01%             |  |  |  | No            |                  1 | On Loan: No      |
| SOUTHERN COMPANY (THE)                             | SO V6.375 03/15/55 2025                                                                                                                                | CUSIP: 842587EB9<br>LEI: 549300FC3G3YU2FBZD92 | Long             | DBT              | CORP              | US        |  31000000 | PA      | $31948321.00  | 0.50%             | 2055-03-15      | Fixed         | 6.38%                 | No            |                  2 | On Loan: No      |
| ING GROEP NV                                       | INTNED V7.5 PERP                                                                                                                                       | CUSIP: 000000000<br>LEI: 549300NYKK9MWM7GGW15 | Long             | DBT              | CORP              | NL        |    285000 | PA      | $295371.16    | 0.00%             | N/A             | Fixed         | 7.50%                 | No            |                  2 | On Loan: No      |
| DTE ENERGY COMPANY                                 | DTE ENERGY COMPANY 6.250% JUNIOR SUBORDINATED DEBENTURES DUE ON OCTOBER 1, 2085                                                                        | CUSIP: 233331792<br>LEI: 549300IX8SD6XXD71I78 | Long             | EP               | CORP              | US        |   2586023 | NS      | $64029929.48  | 1.01%             |  |  |  | No            |                  1 | On Loan: No      |
| DIGITALBRIDGE GROUP INC                            | DIGITALBRIDGE GROUP INC 7.125% SERIES H CUMULATIVE REDEEMABLE PREFERRED STOCK                                                                          | CUSIP: 25401T504<br>LEI: 549300XG87L902AGBO89 | Long             | EP               | CORP              | US        |    149755 | NS      | $2602741.90   | 0.04%             |  |  |  | No            |                  1 | On Loan: No      |
| SOUTHERN COMPANY (THE)                             | SOUTHERN COMPANY (THE) SERIES 2017B 5.25% JUNIOR SUBORDINATED NOTES DUE DECEMBER 1, 2077                                                               | CUSIP: 842587404<br>LEI: 549300FC3G3YU2FBZD92 | Long             | EP               | CORP              | US        |     50423 | NS      | $1097204.48   | 0.02%             |  |  |  | No            |                  1 | On Loan: No      |
| PUBLIC STORAGE                                     | PUBLIC STORAGE DEPOSITARY SHARES EACH REPRESENTING 1/1000 OF A 4.75% CUMULATIVE PREFERRED SHARE OF BENEFICIAL INTEREST SERIES K                        | CUSIP: 74460W578<br>LEI: 254900GLQZAD4N7N5Q19 | Long             | EP               | CORP              | US        |     38872 | NS      | $725740.24    | 0.01%             |  |  |  | No            |                  1 | On Loan: No      |
| AFFILIATED MANAGERS GROUP INC                      | AFFILIATED MANAGERS GROUP INC FIXED JUNIOR SUBORDINATED NOTES DUE MARCH 30, 2064                                                                       | CUSIP: 008252827<br>LEI: 2JE75BUE3T1BLCYYGK54 | Long             | EP               | CORP              | US        |   1218154 | NS      | $29186969.84  | 0.46%             |  |  |  | No            |                  1 | On Loan: No      |
| NEXTERA ENERGY CAPITAL HOLDINGS INC                | NEE V6.5 08/15/55 .                                                                                                                                    | CUSIP: 65339KDF4<br>LEI: UMI46YPGBLUE4VGNNT48 | Long             | DBT              | CORP              | US        |  16250000 | PA      | $16946637.50  | 0.27%             | 2055-08-15      | Fixed         | 6.50%                 | No            |                  2 | On Loan: No      |
| SOUTHERN COMPANY (THE)                             | SOUTHERN COMPANY (THE) CALLABLE JUNIOR SUBORDINATED NOTES DUE 10/15/2060                                                                               | CUSIP: 842587883<br>LEI: 549300FC3G3YU2FBZD92 | Long             | EP               | CORP              | US        |     95084 | NS      | $1644002.36   | 0.03%             |  |  |  | No            |                  1 | On Loan: No      |
| MORGAN STANLEY                                     | MORGAN STANLEY DEPOSITARY SHARES EACH REPRESENTING 1/1,000 TH OF A SHARE OF FIXED-TO-FLOATING RATE NON-CUMULATIVE PREFERRED STOCK, SERIES K            | CUSIP: 61762V606<br>LEI: IGJSJL3JD5P30I6NJZ34 | Long             | EP               | CORP              | US        |    144127 | NS      | $3487873.40   | 0.05%             |  |  |  | No            |                  1 | On Loan: No      |
| BBVA MEXICO SA TEXAS BRANCH                        | BBVASM V7.625 02/11/35 144A                                                                                                                            | CUSIP: 072912AA6<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |  12300000 | PA      | $12843660.00  | 0.20%             | 2035-02-11      | Fixed         | 7.62%                 | No            |                  2 | On Loan: No      |
| GLOBE LIFE INC                                     | GLOBE LIFE INC 4.250% JUNIOR SUBORDINATED DEBENTURES DUE JUNE 15, 2061                                                                                 | CUSIP: 37959E300<br>LEI: 5493001JFHKQOPP6XA71 | Long             | EP               | CORP              | US        |     87348 | NS      | $1395821.04   | 0.02%             |  |  |  | No            |                  1 | On Loan: No      |
| AMERICAN ELECTRIC POWER COMPANY INC                | AEP V6.95 12/15/54                                                                                                                                     | CUSIP: 025537BA8<br>LEI: 1B4S6S7G0TW5EE83BO58 | Long             | DBT              | CORP              | US        |  51590000 | PA      | $54982506.81  | 0.86%             | 2054-12-15      | Fixed         | 6.95%                 | No            |                  2 | On Loan: No      |
| FIRST CITIZENS BANCSHARES INC                      | FCNCA V7 PERP D                                                                                                                                        | CUSIP: 31959XAG8<br>LEI: 549300N3Z00ZHE2XC526 | Long             | DBT              | CORP              | US        |  31950000 | PA      | $32232278.25  | 0.51%             | N/A             | Fixed         | 7.00%                 | No            |                  2 | On Loan: No      |
| CITIGROUP INC                                      | C V6.625 PERP                                                                                                                                          | CUSIP: 172967QJ3<br>LEI: 6SHGI4ZSSLCXXQSBB395 | Long             | DBT              | CORP              | US        |  75485000 | PA      | $76454744.47  | 1.20%             | N/A             | Fixed         | 6.62%                 | No            |                  2 | On Loan: No      |
| AEGON FUNDING COMPANY LLC                          | AEGON FUNDING COMPANY LLC 5.10% SUBORDINATED NOTES DUE DECEMBER 15, 2049                                                                               | CUSIP: 00775V104<br>LEI: KEIOKM01PSK5VZ5CCI74 | Long             | EP               | CORP              | US        |   3185650 | NS      | $61992749.00  | 0.97%             |  |  |  | No            |                  1 | On Loan: No      |
| UBS Group AG                                       | CS 9.75 PERP 144A                                                                                                                                      | CUSIP: 225401AX6<br>LEI: 549300SZJ9VS8SGXAN81 | Long             | DBT              | CORP              | CH        |  27200000 | PA      | $9623360.00   | 0.15%             | N/A             | Fixed         | 9.75%                 | No            |                  3 | On Loan: No      |
| BANCO MERCANTIL DEL NORTE SA CAYMAN ISLANDS BRANCH | BANORT V8.375 PERP 144A                                                                                                                                | CUSIP: 05971PAC2<br>LEI: N/A                  | Long             | DBT              | CORP              | KY        |  23630000 | PA      | $25145982.65  | 0.40%             | N/A             | Fixed         | 8.38%                 | No            |                  2 | On Loan: No      |
| LAND O'LAKES INC                                   | LLAKES 7 PERP 144A                                                                                                                                     | CUSIP: 514666AN6<br>LEI: 4ONCJWH5BBCYSJIJYX61 | Long             | DBT              | CORP              | US        |  44888000 | PA      | $39710330.80  | 0.62%             | N/A             | Fixed         | 7.00%                 | No            |                  2 | On Loan: No      |
| ANNALY CAPITAL MANAGEMENT INC                      | ANNALY CAPITAL MANAGEMENT INC 8.875% SERIES J FIXED-RATE CUMULATIVE REDEEMABLE PREFERRED STOCK                                                         | CUSIP: 035710821<br>LEI: 2DTL0G3FPRYUT58TI025 | Long             | EP               | CORP              | US        |    580189 | NS      | $15183546.13  | 0.24%             |  |  |  | No            |                  1 | On Loan: No      |
| NEXTERA ENERGY CAPITAL HOLDINGS INC                | NEXTERA ENERGY CAPITAL HOLDINGS INC PUBLIC OFFERING OF 60NC5 FIXED-FOR-LIFE JUNIOR SUBORDINATED DEBENTURES DUE 15-APR-2086                             | CUSIP: 65339K829<br>LEI: UMI46YPGBLUE4VGNNT48 | Long             | EP               | CORP              | US        |    374032 | NS      | $9421866.08   | 0.15%             |  |  |  | No            |                  1 | On Loan: No      |
| BROOKFIELD OAKTREE HOLDINGS LLC                    | BROOKFIELD OAKTREE HOLDINGS LLC 6.625% PREFERRED UNITS SERIES A                                                                                        | CUSIP: 674001300<br>LEI: 254900T1ODNFOK2L6090 | Long             | EP               | CORP              | US        |    667263 | NS      | $13915769.87  | 0.22%             |  |  |  | No            |                  1 | On Loan: No      |
| BANCO DE CREDITO E INVERSIONES SA                  | BCICI V8.75 PERP 144A                                                                                                                                  | CUSIP: 05890MAC7<br>LEI: 549300E9E5Y3PKW24142 | Long             | DBT              | CORP              | CL        |  11320000 | PA      | $12164245.60  | 0.19%             | N/A             | Fixed         | 8.75%                 | No            |                  2 | On Loan: No      |
| BARCLAYS PLC                                       | BACR V4.375 PERP                                                                                                                                       | CUSIP: 06738EBT1<br>LEI: 213800LBQA1Y9L22JB70 | Long             | DBT              | CORP              | GB        |   7205000 | PA      | $6986285.02   | 0.11%             | N/A             | Fixed         | 4.38%                 | No            |                  2 | On Loan: No      |
| CAPITAL ONE FINANCIAL CORP                         | CAPITAL ONE FINANCIAL CORP DEPOSITARY SHARES EACH REPRESENTING A 1/40TH INTEREST IN A SHARE OF FIXED RATE NON-CUMULATIVE PERPETUAL PREFERRED STOCK, SE | CUSIP: 14040H824<br>LEI: ZUE8T73ROZOF6FLBAR73 | Long             | EP               | CORP              | US        |     65398 | NS      | $1241908.02   | 0.02%             |  |  |  | No            |                  1 | On Loan: No      |
| LAND O'LAKES CAPITAL TRUST I                       | LLAKES 7.45 03/15/28                                                                                                                                   | CUSIP: 514665AA6<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |  20360000 | PA      | $20947324.92  | 0.33%             | 2028-03-15      | Fixed         | 7.45%                 | Yes           |                  2 | On Loan: No      |
| EMERA US FINANCE LLC                               | EMACN V6.85 10/01/56 B                                                                                                                                 | CUSIP: 29103HAB3<br>LEI: NQZVQT2P5IUF2PGA1Q48 | Long             | DBT              | CORP              | US        |  16065000 | PA      | $16120681.29  | 0.25%             | 2056-10-01      | Fixed         | 6.85%                 | No            |                  2 | On Loan: No      |
| COREBRIDGE FINANCIAL INC                           | COREBRIDGE FINANCIAL INC 6.375% JUNIOR SUBORDINATED NOTES DUE DECEMBER 15,2064.                                                                        | CUSIP: 21871X208<br>LEI: 549300XY1661QCIA7J65 | Long             | EP               | CORP              | US        |   2874095 | NS      | $68834575.25  | 1.08%             |  |  |  | No            |                  1 | On Loan: No      |
| BNP PARIBAS SA                                     | BNP V7.2 PERP 144A                                                                                                                                     | CUSIP: 05602XQS0<br>LEI: R0MUWSFPU8MPRO8K5P83 | Long             | DBT              | CORP              | FR        |  71700000 | PA      | $72157517.70  | 1.13%             | N/A             | Fixed         | 7.20%                 | No            |                  2 | On Loan: No      |
| ATHENE HOLDING LTD                                 | ATH V6.875 06/28/55                                                                                                                                    | CUSIP: 04686JAM3<br>LEI: 549300H316CT32FQXI76 | Long             | DBT              | CORP              | US        |   4326000 | PA      | $4200453.86   | 0.07%             | 2055-06-28      | Fixed         | 6.88%                 | No            |                  2 | On Loan: No      |
| AFFILIATED MANAGERS GROUP INC                      | AFFILIATED MANAGERS GROUP INC 5.875% JUNIOR SUBORDINATED NOTES DUE MARCH 30, 2059                                                                      | CUSIP: 008252850<br>LEI: 2JE75BUE3T1BLCYYGK54 | Long             | EP               | CORP              | US        |    310069 | NS      | $6266494.49   | 0.10%             |  |  |  | No            |                  1 | On Loan: No      |
| JP MORGAN CHASE & COMPANY                          | JP MORGAN CHASE & COMPANY 5.75% DEP SHS REP 1/400TH INT SHS NON CUM PFD STK SER DD                                                                     | CUSIP: 48128B655<br>LEI: 8I5DZWZKVSZI1NUHU748 | Long             | EP               | CORP              | US        |      8729 | NS      | $216566.49    | 0.00%             |  |  |  | No            |                  1 | On Loan: No      |
| BANCO SANTANDER SA                                 | SANTAN V9.625 PERP _                                                                                                                                   | CUSIP: 05971KAQ2<br>LEI: 5493006QMFDDMYWIAM13 | Long             | DBT              | CORP              | ES        |  50600000 | PA      | $60242133.60  | 0.95%             | N/A             | Fixed         | 9.62%                 | No            |                  2 | On Loan: No      |
| TELUS CORP                                         | TCN V6.625 06/09/56 ...                                                                                                                                | CUSIP: 87971MCR2<br>LEI: 894500TX134IMF6NW757 | Long             | DBT              | CORP              | CA        |  20021000 | PA      | $19920412.49  | 0.31%             | 2056-06-09      | Fixed         | 6.62%                 | No            |                  2 | On Loan: No      |
| DEUTSCHE BANK AG                                   | DB V8.13011 PERP                                                                                                                                       | CUSIP: 000000000<br>LEI: 7LTWFZYICNSX8D621K86 | Long             | DBT              | CORP              | DE        |  24800000 | PA      | $26343749.41  | 0.41%             | N/A             | Floating      | 8.13%                 | No            |                  2 | On Loan: No      |
| BELL CANADA                                        | BCECN V7 09/15/55                                                                                                                                      | CUSIP: 0778FPAQ2<br>LEI: 5493000G3EFX9S7TDE29 | Long             | DBT              | CORP              | CA        |  57079000 | PA      | $59261472.64  | 0.93%             | 2055-09-15      | Fixed         | 7.00%                 | No            |                  2 | On Loan: No      |
| ENSTAR GROUP LTD                                   | ENSTAR GROUP LTD 7.00% FIXED-TO-FLOATING RATE SERIES D PERPETUAL PREFERRED SHARES                                                                      | CUSIP: 29359U109<br>LEI: 213800AMAL5QFXVUCN04 | Long             | EP               | CORP              | BM        |   2631671 | NS      | $60528433.00  | 0.95%             |  |  |  | No            |                  2 | On Loan: No      |
| ROYAL BANK OF CANADA                               | RY V6.5 11/24/85                                                                                                                                       | CUSIP: 780082AY9<br>LEI: ES7IP3U3RHIGC71XBU11 | Long             | DBT              | CORP              | CA        |  35640000 | PA      | $35150260.07  | 0.55%             | 2085-11-24      | Fixed         | 6.50%                 | No            |                  2 | On Loan: No      |
| EMERA US FINANCE LLC                               | EMACN V6.65 10/01/56 A                                                                                                                                 | CUSIP: 29103HAA5<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |   9250000 | PA      | $9276936.00   | 0.15%             | 2056-10-01      | Fixed         | 6.65%                 | No            |                  2 | On Loan: No      |
| CMS ENERGY CORP                                    | CMS ENERGY CORP 5.875% FIXED RATE JUNIOR SUBORDINATED NOTES DUE ON 3/1/2079                                                                            | CUSIP: 125896845<br>LEI: 549300IA9XFBAGNIBW29 | Long             | EP               | CORP              | US        |    595799 | NS      | $13780830.87  | 0.22%             |  |  |  | No            |                  1 | On Loan: No      |
| DIGITALBRIDGE GROUP INC                            | DIGITALBRIDGE GROUP INC 7.15% SERIES I CUMULATIVE REDEEMABLE PERPETUAL PREFERRED STOCK                                                                 | CUSIP: 25401T405<br>LEI: 549300XG87L902AGBO89 | Long             | EP               | CORP              | US        |    598173 | NS      | $10306520.79  | 0.16%             |  |  |  | No            |                  1 | On Loan: No      |
| JP MORGAN CHASE & COMPANY                          | JPM V6.875 PERP NN                                                                                                                                     | CUSIP: 48128BAQ4<br>LEI: 8I5DZWZKVSZI1NUHU748 | Long             | DBT              | CORP              | US        |  82350000 | PA      | $85842051.75  | 1.35%             | N/A             | Fixed         | 6.88%                 | No            |                  2 | On Loan: No      |
| UBS Group AG                                       | CS 6.375 PERP 144A                                                                                                                                     | CUSIP: 225401AL2<br>LEI: 549300SZJ9VS8SGXAN81 | Long             | DBT              | CORP              | CH        |  51775000 | PA      | $18317995.00  | 0.29%             | N/A             | Fixed         | 6.38%                 | No            |                  3 | On Loan: No      |
| UBS Group AG                                       | CS 6.25 PERP 144A                                                                                                                                      | CUSIP: 225436AA2<br>LEI: 549300SZJ9VS8SGXAN81 | Long             | DBT              | CORP              | CH        |   1200000 | PA      | $424560.00    | 0.01%             | N/A             | Floating      | 6.25%                 | No            |                  3 | On Loan: No      |
| SOUTHERN COMPANY (THE)                             | SOUTHERN COMPANY (THE) CALLABLE JUNIOR SUBORDINATED NOTES DUE MARCH 15, 2085                                                                           | CUSIP: 842587867<br>LEI: 549300FC3G3YU2FBZD92 | Long             | EP               | CORP              | US        |    816514 | NS      | $20821107.00  | 0.33%             |  |  |  | No            |                  1 | On Loan: No      |
| BANCO MERCANTIL DEL NORTE SA CAYMAN ISLANDS BRANCH | BANORT V7.5 PERP 144A                                                                                                                                  | CUSIP: 05971PAB4<br>LEI: N/A                  | Long             | DBT              | CORP              | KY        |  22250000 | PA      | $22784400.50  | 0.36%             | N/A             | Fixed         | 7.50%                 | No            |                  2 | On Loan: No      |
| CNP ASSURANCES SA                                  | CNPFP V4.875 PERP                                                                                                                                      | CUSIP: 000000000<br>LEI: 969500QKVPV2H8UXM738 | Long             | DBT              | CORP              | FR        |  29400000 | PA      | $27583528.94  | 0.43%             | N/A             | Fixed         | 4.88%                 | No            |                  2 | On Loan: No      |
| COBANK ACB                                         | COBKAC V7.25 PERP                                                                                                                                      | CUSIP: 19075QAF9<br>LEI: P0J8I7M2E0A77CKF1705 | Long             | DBT              | USGSE             | US        |  12500000 | PA      | $12666778.25  | 0.20%             | N/A             | Fixed         | 7.25%                 | No            |                  2 | On Loan: No      |
| CHS INC                                            | CHS INC CLASS B RESET RATE CUMULATIVE REDEEMABLE PREFERRED STOCK, SERIES 3                                                                             | CUSIP: 12542R704<br>LEI: XEIEFTLYDQ1MZ6TZV015 | Long             | EP               | CORP              | US        |    319123 | NS      | $7962118.85   | 0.13%             |  |  |  | No            |                  1 | On Loan: No      |
| BNP PARIBAS SA                                     | BNP V8 PERP 144A                                                                                                                                       | CUSIP: 05602XDJ4<br>LEI: R0MUWSFPU8MPRO8K5P83 | Long             | DBT              | CORP              | FR        |  28020000 | PA      | $30052178.52  | 0.47%             | N/A             | Fixed         | 8.00%                 | No            |                  2 | On Loan: No      |
| PNC FINANCIAL SERVICES GROUP INC (THE)             | PNC V6 PERP U                                                                                                                                          | CUSIP: 693475BD6<br>LEI: CFGNEKW0P8842LEUIA51 | Long             | DBT              | CORP              | US        |  14810000 | PA      | $14821922.05  | 0.23%             | N/A             | Fixed         | 6.00%                 | No            |                  2 | On Loan: No      |
| AFFILIATED MANAGERS GROUP INC                      | AFFILIATED MANAGERS GROUP INC 4.750% JUNIOR SUBORDINATED NOTES DUE SEPTEMBER 30, 2060                                                                  | CUSIP: 008252843<br>LEI: 2JE75BUE3T1BLCYYGK54 | Long             | EP               | CORP              | US        |    197154 | NS      | $3258955.62   | 0.05%             |  |  |  | No            |                  1 | On Loan: No      |
| RENAISSANCERE HOLDINGS LTD                         | RENAISSANCERE HOLDINGS LTD DEP SHS REP 1/1000 INT PFD                                                                                                  | CUSIP: 75968N309<br>LEI: EK6GB9U3U58PDI411C94 | Long             | EP               | CORP              | BM        |     85784 | NS      | $1852076.56   | 0.03%             |  |  |  | No            |                  1 | On Loan: No      |
| ING GROEP NV                                       | INTNED V7.25 PERP                                                                                                                                      | CUSIP: 000000000<br>LEI: 549300NYKK9MWM7GGW15 | Long             | DBT              | CORP              | NL        |  22200000 | PA      | $23349416.10  | 0.37%             | N/A             | Fixed         | 7.25%                 | No            |                  2 | On Loan: No      |
| REINSURANCE GROUP OF AMERICA INC                   | REINSURANCE GROUP OF AMERICA INC 7.125% FIXED-RATE RESET SUBORDINATED DEBENTURES DUE OCTOBER 15, 2052                                                  | CUSIP: 759351885<br>LEI: LORM1GNEU1DKEW527V90 | Long             | EP               | CORP              | US        |    130439 | NS      | $3314454.99   | 0.05%             |  |  |  | No            |                  1 | On Loan: No      |
| HSBC HOLDINGS PLC                                  | HSBC V7.05 PERP                                                                                                                                        | CUSIP: 404280FA2<br>LEI: MLU0ZO3ML4LN2LL2TL39 | Long             | DBT              | CORP              | GB        |  30900000 | PA      | $31810870.20  | 0.50%             | N/A             | Fixed         | 7.05%                 | No            |                  2 | On Loan: No      |
| BANK OF MONTREAL                                   | BMO V7.7 05/26/84                                                                                                                                      | CUSIP: 06368LQ58<br>LEI: NQQ6HPCNCCU6TUTQYE16 | Long             | DBT              | CORP              | CA        |  60800000 | PA      | $64050064.00  | 1.01%             | 2084-05-26      | Fixed         | 7.70%                 | No            |                  2 | On Loan: No      |
| DOMINION ENERGY INC                                | D V6.625 05/15/55                                                                                                                                      | CUSIP: 25746UDV8<br>LEI: ILUL7B6Z54MRYCF6H308 | Long             | DBT              | CORP              | US        |  55306000 | PA      | $56591975.11  | 0.89%             | 2055-05-15      | Fixed         | 6.62%                 | No            |                  2 | On Loan: No      |
| ALTAGAS LTD                                        | ALACN V7.2 10/15/54 144A                                                                                                                               | CUSIP: 021361AD2<br>LEI: 2549008X5V70MOS4HM10 | Long             | DBT              | CORP              | CA        |  21500000 | PA      | $22347465.50  | 0.35%             | 2054-10-15      | Fixed         | 7.20%                 | No            |                  2 | On Loan: No      |
| BARCLAYS PLC                                       | BACR V8 PERP                                                                                                                                           | CUSIP: 06738EBX2<br>LEI: 213800LBQA1Y9L22JB70 | Long             | DBT              | CORP              | GB        | 100000000 | PA      | $105252700.00 | 1.65%             | N/A             | Fixed         | 8.00%                 | No            |                  2 | On Loan: No      |
| DOMINION ENERGY INC                                | D V6.875 02/01/55 A                                                                                                                                    | CUSIP: 25746UDT3<br>LEI: ILUL7B6Z54MRYCF6H308 | Long             | DBT              | CORP              | US        |   3526000 | PA      | $3663429.38   | 0.06%             | 2055-02-01      | Fixed         | 6.88%                 | No            |                  2 | On Loan: No      |
| LLOYDS BANKING GROUP PLC                           | LLOYDS V8 PERP                                                                                                                                         | CUSIP: 53944YAV5<br>LEI: 549300PPXHEU2JF0AM85 | Long             | DBT              | CORP              | GB        |  50000000 | PA      | $53499200.00  | 0.84%             | N/A             | Fixed         | 8.00%                 | No            |                  2 | On Loan: No      |
| ATHENE HOLDING LTD                                 | ATHENE HOLDING LTD 6.35%DEP 1/1000TH PERP NON CUM PFD SER A                                                                                            | CUSIP: 04686J861<br>LEI: 549300H316CT32FQXI76 | Long             | EP               | CORP              | US        |   1276347 | NS      | $31079049.45  | 0.49%             |  |  |  | No            |                  1 | On Loan: No      |
| MORGAN STANLEY                                     | MORGAN STANLEY DEPOSITARY SHARES, EACH REPRESENTING 1/1,000TH OWNERSHIP INTEREST IN A SHARE OF 6.500% NON-CUMULATIVE PREFERRED STOCK, SERIES P         | CUSIP: 61762V853<br>LEI: IGJSJL3JD5P30I6NJZ34 | Long             | EP               | CORP              | US        |     13521 | NS      | $341675.67    | 0.01%             |  |  |  | No            |                  1 | On Loan: No      |
| KKR GROUP FINANCE CO IX LLC                        | KKR GROUP FINANCE CO IX LLC 4.625% SUBORDINATED NOTES DUE APRIL 1, 2061                                                                                | CUSIP: 48253M104<br>LEI: N/A                  | Long             | EP               | CORP              | US        |   1008516 | NS      | $17124601.68  | 0.27%             |  |  |  | No            |                  1 | On Loan: No      |
| T-MOBILE USA INC                                   | T-MOBILE USA INC 5.500% SENIOR NOTES DUE ON JUNE 1, 2070                                                                                               | CUSIP: 87264A303<br>LEI: 549300V2JRLO5DIFGE82 | Long             | EP               | CORP              | US        |   2434962 | NS      | $54031806.78  | 0.85%             |  |  |  | No            |                  1 | On Loan: No      |
| BANK OF MONTREAL                                   | BMO V6.875 11/26/85 6                                                                                                                                  | CUSIP: 06368L8V1<br>LEI: NQQ6HPCNCCU6TUTQYE16 | Long             | DBT              | CORP              | CA        |  17168000 | PA      | $17578229.36  | 0.28%             | 2085-11-26      | Fixed         | 6.88%                 | No            |                  2 | On Loan: No      |
| CANADIAN IMPERIAL BANK OF COMMERCE                 | CM V7 10/28/85                                                                                                                                         | CUSIP: 13607P7Y4<br>LEI: 2IGI19DL77OX0HC3ZE78 | Long             | DBT              | CORP              | CA        |  44100000 | PA      | $45278219.70  | 0.71%             | 2085-10-28      | Fixed         | 7.00%                 | No            |                  2 | On Loan: No      |
| CREDIT AGRICOLE SA                                 | ACAFP V7.125 PERP 144A                                                                                                                                 | CUSIP: 225313AT2<br>LEI: 969500TJ5KRTCJQWXH05 | Long             | DBT              | CORP              | FR        |  75172000 | PA      | $78170535.91  | 1.23%             | N/A             | Fixed         | 7.12%                 | No            |                  2 | On Loan: No      |
| Banco Bilbao Vizcaya Argentaria SA                 | Banco Bilbao Vizcaya Argentaria SA FXD-FRN ALT TIER I COCO PERP USD (SEC REGD) (16)                                                                    | CUSIP: 05946KAW1<br>LEI: K8MS7FD7N5Z2WQ51AZ71 | Long             | DBT              | CORP              | ES        |  15450000 | PA      | $15450000.00  | 0.24%             | N/A             | Fixed         | 7.12%                 | No            |                  2 | On Loan: No      |
| JACKSON FINANCIAL INC                              | JACKSON FINANCIAL INC DEPOSITARY SHARES, EACH REPRESENTING A 1/1,000TH INTEREST IN A SHARE OF FIXED-RATE RESET NONCUMULATIVE PERPETUAL PREFERRED STOCK | CUSIP: 46817M206<br>LEI: 213800WXW2KG1N4CO374 | Long             | EP               | CORP              | US        |    114642 | NS      | $2988716.94   | 0.05%             |  |  |  | No            |                  1 | On Loan: No      |
| DAIRY FARMERS OF AMERICA INC                       | DFAINC 7.125 PERP                                                                                                                                      | CUSIP: 23385HAA7<br>LEI: 1LTUIZEFFT7MUIERI838 | Long             | DBT              | CORP              | US        |  10700000 | PA      | $10737985.00  | 0.17%             | N/A             | Fixed         | 7.12%                 | Yes           |                  2 | On Loan: No      |
| LANCASHIRE HOLDINGS LTD                            | LRELN V5.625 09/18/41                                                                                                                                  | CUSIP: 000000000<br>LEI: 5493002UNUYXLHOWF752 | Long             | DBT              | CORP              | BM        |  32050000 | PA      | $31520134.98  | 0.50%             | 2041-09-18      | Fixed         | 5.62%                 | No            |                  2 | On Loan: No      |
| DOMINION ENERGY INC                                | D V7 06/01/54 B                                                                                                                                        | CUSIP: 25746UDU0<br>LEI: ILUL7B6Z54MRYCF6H308 | Long             | DBT              | CORP              | US        |  12433000 | PA      | $13294656.63  | 0.21%             | 2054-06-01      | Fixed         | 7.00%                 | No            |                  2 | On Loan: No      |
| ATHENE HOLDING LTD                                 | ATHENE HOLDING LTD DEPOSITARY SHARES EACH REPRESENTING A 1/1,000TH INTEREST IN A SHARE OF THE ISSUERS 7.750% FIXED-RATE RESET PERPETUAL NON-CUMULATIV  | CUSIP: 04686J507<br>LEI: 549300H316CT32FQXI76 | Long             | EP               | CORP              | US        |   1436658 | NS      | $36706611.90  | 0.58%             |  |  |  | No            |                  1 | On Loan: No      |
| CREDIT AGRICOLE SA                                 | ACAFP V6.7 PERP 144A                                                                                                                                   | CUSIP: 225313AR6<br>LEI: 969500TJ5KRTCJQWXH05 | Long             | DBT              | CORP              | FR        |  45578000 | PA      | $46144443.38  | 0.72%             | N/A             | Fixed         | 6.70%                 | No            |                  2 | On Loan: No      |
| UBS GROUP AG                                       | CS 7.5 PERP 144a                                                                                                                                       | CUSIP: 225401AJ7<br>LEI: 549300SZJ9VS8SGXAN81 | Long             | DBT              | CORP              | CH        |  76900000 | PA      | $27207220.00  | 0.43%             | N/A             | Floating      | 7.50%                 | No            |                  3 | On Loan: No      |
| BROOKFIELD INFRASTRUCTURE PARTNERS LP              | BROOKFIELD INFRASTRUCTURE PARTNERS LP 5.00% CLASS A PREFERRED LIMITED PARTNERSHIP UNITS, SERIES 14                                                     | CUSIP: 000000000<br>LEI: 549300WEH5R2OODI7Y90 | Long             | EP               | CORP              | BM        |     56311 | NS      | $915053.75    | 0.01%             |  |  |  | No            |                  1 | On Loan: No      |
| RENAISSANCERE HOLDINGS LTD                         | RENAISSANCERE HOLDINGS LTD DEPOSITARY SHARES, EACH REPRESENTING 1/1000TH INTEREST IN A SHARE OF THE COMPANYS 4.20% SERIES G PREFERENCE SHARES          | CUSIP: 000000000<br>LEI: EK6GB9U3U58PDI411C94 | Long             | EP               | CORP              | BM        |    859247 | NS      | $13378475.79  | 0.21%             |  |  |  | No            |                  1 | On Loan: No      |
| BNP PARIBAS SA                                     | BNP V8.5 PERP 144A                                                                                                                                     | CUSIP: 05565A5R0<br>LEI: R0MUWSFPU8MPRO8K5P83 | Long             | DBT              | CORP              | FR        |  56900000 | PA      | $60294369.50  | 0.95%             | N/A             | Fixed         | 8.50%                 | No            |                  2 | On Loan: No      |
| STATE STREET CORP                                  | STATE STREET CORP DEPOSITARY SHARES, EACH REPRESENTING A 1/4,000TH OWNERSHIP INTEREST IN A SHARE OF FIXED-TO-FLOATING RATE NON-CUMULATIVE PERPETUAL PR | CUSIP: 857477855<br>LEI: 549300ZFEEJ2IP5VME73 | Long             | EP               | CORP              | US        |    274203 | NS      | $6103758.78   | 0.10%             |  |  |  | No            |                  1 | On Loan: No      |
| NATWEST GROUP PLC                                  | NWG V8.125 PERP                                                                                                                                        | CUSIP: 639057AQ1<br>LEI: 2138005O9XJIJN4JPN90 | Long             | DBT              | CORP              | GB        |  38105000 | PA      | $42088420.49  | 0.66%             | N/A             | Fixed         | 8.12%                 | No            |                  2 | On Loan: No      |
| ASPEN INSURANCE HOLDINGS LTD                       | ASPEN INSURANCE HOLDINGS LTD 5.625% PERPETUAL NON-CUMULATIVE PREFERENCE SHARES                                                                         | CUSIP: 000000000<br>LEI: 549300YX6HECG9XQCQ75 | Long             | EP               | CORP              | BM        |    519383 | NS      | $11265417.27  | 0.18%             |  |  |  | No            |                  1 | On Loan: No      |
| CHS INC                                            | CHS INC CLASS B RESET RATE CUMULATIVE REDEEMABLE PREFERRED STOCK, SERIES 2                                                                             | CUSIP: 12542R506<br>LEI: XEIEFTLYDQ1MZ6TZV015 | Long             | EP               | CORP              | US        |     92905 | NS      | $2351425.55   | 0.04%             |  |  |  | No            |                  1 | On Loan: No      |
| CHARLES SCHWAB CORP (THE)                          | SCHW V4 PERP H                                                                                                                                         | CUSIP: 808513BJ3<br>LEI: 549300VSGCJ7E698NM85 | Long             | DBT              | CORP              | US        |  73169000 | PA      | $68242692.20  | 1.07%             | N/A             | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| DTE ENERGY COMPANY                                 | DTE ENERGY COMPANY 4.375% JUNIOR SUBORDINATED DEBENTURES DUE DECEMBER 1,2081                                                                           | CUSIP: 233331818<br>LEI: 549300IX8SD6XXD71I78 | Long             | EP               | CORP              | US        |     20021 | NS      | $343960.78    | 0.01%             |  |  |  | No            |                  1 | On Loan: No      |
| EVERSOURCE ENERGY                                  | ES V6.1 08/15/56 A                                                                                                                                     | CUSIP: 30040WBC1<br>LEI: SJ7XXD41SQU3ZNWUJ746 | Long             | DBT              | CORP              | US        |   9300000 | PA      | $9265834.59   | 0.15%             | 2056-08-15      | Fixed         | 6.10%                 | No            |                  2 | On Loan: No      |
| COMPEER FINANCIAL ACA                              | CMPFIN V7.875 PERP QIB                                                                                                                                 | CUSIP: 20453QAC6<br>LEI: 54930020HTACTODKHT04 | Long             | DBT              | CORP              | US        |  17980000 | PA      | $18358574.65  | 0.29%             | N/A             | Fixed         | 7.88%                 | No            |                  2 | On Loan: No      |
| METLIFE INC                                        | MET V6.35 03/15/55 G                                                                                                                                   | CUSIP: 59156RCQ9<br>LEI: C4BXATY60WC6XEOZDX54 | Long             | DBT              | CORP              | US        |   7509000 | PA      | $7690349.86   | 0.12%             | 2055-03-15      | Fixed         | 6.35%                 | No            |                  2 | On Loan: No      |
| BROOKFIELD INFRASTRUCTURE PARTNERS LP              | BROOKFIELD INFRASTRUCTURE PARTNERS LP 5.125% CLASS A PREFERRED LIMITED PARTNERSHIP UNITS, SERIES 13                                                    | CUSIP: 000000000<br>LEI: 549300WEH5R2OODI7Y90 | Long             | EP               | CORP              | BM        |    616426 | NS      | $10473077.74  | 0.16%             |  |  |  | No            |                  1 | On Loan: No      |
| MORGAN STANLEY                                     | MORGAN STANLEY DEPOSITARY SHARES, EACH REPRESENTING 1/1,000TH OWNERSHIP INTEREST IN A SHARE OF 6.625% NONCUMULATIVE PREFERRED STOCK, SERIES Q          | CUSIP: 61762V838<br>LEI: IGJSJL3JD5P30I6NJZ34 | Long             | EP               | CORP              | US        |    398053 | NS      | $10174234.68  | 0.16%             |  |  |  | No            |                  1 | On Loan: No      |
| ATHENE HOLDING LTD                                 | ATHENE HOLDING LTD JUNIOR SUBORDINATED DEBENTURES DUE ON MARCH 30, 2064                                                                                | CUSIP: 04686J838<br>LEI: 549300H316CT32FQXI76 | Long             | EP               | CORP              | US        |   1751494 | NS      | $43874924.70  | 0.69%             |  |  |  | No            |                  1 | On Loan: No      |
| COREBRIDGE FINANCIAL INC                           | CRBG V6.875 PERP                                                                                                                                       | CUSIP: 21871XAU3<br>LEI: 549300XY1661QCIA7J65 | Long             | DBT              | CORP              | US        |   1155000 | PA      | $1188674.03   | 0.02%             | N/A             | Fixed         | 6.88%                 | No            |                  2 | On Loan: No      |
| HSBC HOLDINGS PLC                                  | HSBC V8 PERP                                                                                                                                           | CUSIP: 404280DT3<br>LEI: MLU0ZO3ML4LN2LL2TL39 | Long             | DBT              | CORP              | GB        |  41200000 | PA      | $43102657.20  | 0.68%             | N/A             | Fixed         | 8.00%                 | No            |                  2 | On Loan: No      |
| AT&T INC                                           | AT&T INC 5.350% GLOBAL NOTES DUE 2066                                                                                                                  | CUSIP: 00206R300<br>LEI: 549300Z40J86GGSTL398 | Long             | EP               | CORP              | US        |    696028 | NS      | $14978522.56  | 0.24%             |  |  |  | No            |                  1 | On Loan: No      |
| REINSURANCE GROUP OF AMERICA INC                   | RGA V6.375 09/15/56                                                                                                                                    | CUSIP: 759351AV1<br>LEI: LORM1GNEU1DKEW527V90 | Long             | DBT              | CORP              | US        |   9300000 | PA      | $9112239.51   | 0.14%             | 2056-09-15      | Fixed         | 6.38%                 | No            |                  2 | On Loan: No      |
| JP MORGAN CHASE & COMPANY                          | JP MORGAN CHASE & COMPANY DEPOSITARY SHARES EACH REPRESENTING A 1/400TH INTEREST IN A SHARE OF 4.75% NON-CUMULATIVE PREFERRED STOCK, SERIES GG         | CUSIP: 48128B622<br>LEI: 8I5DZWZKVSZI1NUHU748 | Long             | EP               | CORP              | US        |     49076 | NS      | $985446.08    | 0.02%             |  |  |  | No            |                  1 | On Loan: No      |
| CITIGROUP INC                                      | C V6.95 PERP FF                                                                                                                                        | CUSIP: 17327CAV5<br>LEI: 6SHGI4ZSSLCXXQSBB395 | Long             | DBT              | CORP              | US        |  24700000 | PA      | $25153195.60  | 0.40%             | N/A             | Fixed         | 6.95%                 | No            |                  2 | On Loan: No      |
| EVERSOURCE ENERGY                                  | ES V6.35 08/15/56 B                                                                                                                                    | CUSIP: 30040WBD9<br>LEI: SJ7XXD41SQU3ZNWUJ746 | Long             | DBT              | CORP              | US        |  27327000 | PA      | $27328563.10  | 0.43%             | 2056-08-15      | Fixed         | 6.35%                 | No            |                  2 | On Loan: No      |
| ASSURED GUARANTY MUNICIPAL HOLDINGS INC            | AGO V6.4 12/15/66 144A                                                                                                                                 | CUSIP: 31769PAB6<br>LEI: 549300WKHOG7BKB8MS12 | Long             | DBT              | CORP              | US        |  12699000 | PA      | $12083056.59  | 0.19%             | 2066-12-15      | Fixed         | 6.40%                 | No            |                  2 | On Loan: No      |
| GOLDMAN SACHS GROUP INC (THE)                      | GS V6.125 PERP Y                                                                                                                                       | CUSIP: 38141GB52<br>LEI: 784F5XWPLTWKTBV3E584 | Long             | DBT              | CORP              | US        |  30900000 | PA      | $31148219.70  | 0.49%             | N/A             | Fixed         | 6.12%                 | No            |                  2 | On Loan: No      |
| NEXTERA ENERGY CAPITAL HOLDINGS INC                | NEXTERA ENERGY CAPITAL HOLDINGS INC SERIES U JUNIOR SUBORDINATED DEBENTURES DUE JUNE 1, 2085                                                           | CUSIP: 65339K837<br>LEI: UMI46YPGBLUE4VGNNT48 | Long             | EP               | CORP              | US        |   3473570 | NS      | $88923392.00  | 1.40%             |  |  |  | No            |                  1 | On Loan: No      |
| BANCO MERCANTIL DEL NORTE SA CAYMAN ISLANDS BRANCH | BANORT V7.625 PERP 144A                                                                                                                                | CUSIP: 05962GAJ8<br>LEI: N/A                  | Long             | DBT              | CORP              | KY        |  15700000 | PA      | $16059969.60  | 0.25%             | N/A             | Fixed         | 7.62%                 | No            |                  2 | On Loan: No      |
| ING GROEP NV                                       | INTNED V8 PERP                                                                                                                                         | CUSIP: 000000000<br>LEI: 549300NYKK9MWM7GGW15 | Long             | DBT              | CORP              | NL        |  38873000 | PA      | $41551702.28  | 0.65%             | N/A             | Fixed         | 8.00%                 | No            |                  2 | On Loan: No      |
| CARLYLE FINANCE LLC                                | CARLYLE FINANCE LLC CARLYLE FINANCE L.L.C. 4.625% SUBORDINATED NOTES DUE MAY 15, 2061                                                                  | CUSIP: 14314C105<br>LEI: N/A                  | Long             | EP               | CORP              | US        |   1954151 | NS      | $34197642.50  | 0.54%             |  |  |  | No            |                  1 | On Loan: No      |
| ING GROEP NV                                       | INTNED V7 PERP .                                                                                                                                       | CUSIP: 456837BT9<br>LEI: 549300NYKK9MWM7GGW15 | Long             | DBT              | CORP              | NL        |  57807000 | PA      | $59948633.74  | 0.94%             | N/A             | Fixed         | 7.00%                 | No            |                  2 | On Loan: No      |
| HUNTINGTON BANCSHARES INC                          | HUNTINGTON BANCSHARES INC DEPOSITARY SHARES, EACH REPRESENTING A 1/40TH INTEREST IN A SHARE OF 6.875% SERIES J NON-CUMULATIVE PERPETUAL PREFERRED STOC | CUSIP: 446150773<br>LEI: 549300XTVCVV9I7B5T19 | Long             | EP               | CORP              | US        |      7077 | NS      | $181171.20    | 0.00%             |  |  |  | No            |                  1 | On Loan: No      |
| FORD MOTOR CO                                      | FORD MOTOR CO 6.500% NOTES DUE AUGUST 15, 2062                                                                                                         | CUSIP: 345370811<br>LEI: 20S05OYHG0MQM4VUIC57 | Long             | EP               | CORP              | US        |    462967 | NS      | $10213052.02  | 0.16%             |  |  |  | No            |                  1 | On Loan: No      |
| BBVA MEXICO SA TEXAS BRANCH                        | BBVASM V8.45 06/29/38 144A                                                                                                                             | CUSIP: 07336UAA1<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |  35600000 | PA      | $39218886.67  | 0.62%             | 2038-06-29      | Fixed         | 8.45%                 | No            |                  2 | On Loan: No      |
| DUKE ENERGY CORP                                   | DUK V6.45 09/01/54                                                                                                                                     | CUSIP: 26441CCG8<br>LEI: I1BZKREC126H0VB1BL91 | Long             | DBT              | CORP              | US        |  23875000 | PA      | $24955606.38  | 0.39%             | 2054-09-01      | Fixed         | 6.45%                 | No            |                  2 | On Loan: No      |
| SPIRE INC (US)                                     | SR V6.45 06/01/56                                                                                                                                      | CUSIP: 84857LAE1<br>LEI: 549300NXSY15DRY2R511 | Long             | DBT              | CORP              | US        |  18560000 | PA      | $18685669.76  | 0.29%             | 2056-06-01      | Fixed         | 6.45%                 | No            |                  2 | On Loan: No      |
| TRUIST FINANCIAL CORP                              | TRUIST FINANCIAL CORP DEPOSITARY SHARES, EACH REPRESENTING A 1/1,000TH INTEREST IN A SHARE OF SERIES R NON-CUMULATIVE PERPETUAL PREFERRED STOCK        | CUSIP: 89832Q695<br>LEI: 549300DRQQI75D2JP341 | Long             | EP               | CORP              | US        |    162672 | NS      | $3054980.16   | 0.05%             |  |  |  | No            |                  1 | On Loan: No      |
| JP MORGAN CHASE & COMPANY                          | JP MORGAN CHASE & COMPANY DEPOSITARY SHARES, EACH REPRESENTING A 1/400TH INTEREST IN A SHARE OF JPMORGAN CHASE & CO. 4.625% NON-CUMULATIVE PREFERRED S | CUSIP: 48128B549<br>LEI: 8I5DZWZKVSZI1NUHU748 | Long             | EP               | CORP              | US        |    588153 | NS      | $11457220.44  | 0.18%             |  |  |  | No            |                  1 | On Loan: No      |
| AGNC INVESTMENT CORP                               | AGNC INVESTMENT CORP DEPOSITARY SHARES EACH REPRESENTING A 1/1,000TH INTEREST IN A SHARE OF 8.75% SERIES H FIXED-RATE CUMULATIVE REDEEMABLE PREFERRED  | CUSIP: 00123Q831<br>LEI: 5TRACI5HRMELWV32OF39 | Long             | EP               | CORP              | US        |    356535 | NS      | $9109469.25   | 0.14%             |  |  |  | No            |                  1 | On Loan: No      |
| ASSURANT INC                                       | AIZ V7 03/27/48                                                                                                                                        | CUSIP: 04621XAK4<br>LEI: H3F39CAXWQRVWURFXL38 | Long             | DBT              | CORP              | US        |  34460000 | PA      | $34926170.74  | 0.55%             | 2048-03-27      | Fixed         | 7.00%                 | No            |                  2 | On Loan: No      |
| BNP PARIBAS SA                                     | BNP V9.25 PERP 144A                                                                                                                                    | CUSIP: 05565AS20<br>LEI: R0MUWSFPU8MPRO8K5P83 | Long             | DBT              | CORP              | FR        |   8300000 | PA      | $8773689.30   | 0.14%             | N/A             | Fixed         | 9.25%                 | No            |                  2 | On Loan: No      |
| APOLLO GLOBAL MANAGEMENT INC                       | APOLLO GLOBAL MANAGEMENT INC FIXED-RATE RESETTABLE JUNIOR SUBORDINATED NOTES DUE 9/15/2053                                                             | CUSIP: 03769M205<br>LEI: 254900LMFT1CY9IYB476 | Long             | EP               | CORP              | US        |       947 | NS      | $24337.90     | 0.00%             |  |  |  | No            |                  1 | On Loan: No      |
| SOUTHERN COMPANY (THE)                             | SOUTHERN COMPANY (THE) 4.95% JUNIOR SUBORDINATED NOTES DUE JANUARY 30, 2080                                                                            | CUSIP: 842587800<br>LEI: 549300FC3G3YU2FBZD92 | Long             | EP               | CORP              | US        |    623599 | NS      | $12453272.03  | 0.20%             |  |  |  | No            |                  1 | On Loan: No      |
| FARM CREDIT BANK OF TEXAS INC                      | FARMCB V6.2 PERP 3                                                                                                                                     | CUSIP: 30767EAC3<br>LEI: V1EBJIOLRNYDHDF63Z33 | Long             | DBT              | USGSE             | US        |   7650000 | PA      | $7586237.25   | 0.12%             | N/A             | Fixed         | 6.20%                 | No            |                  2 | On Loan: No      |
| VOYA FINANCIAL INC                                 | VOYA FINANCIAL INC DEP SHS REP 1/40TH NON CUM                                                                                                          | CUSIP: 929089209<br>LEI: 549300T065Z4KJ686G75 | Long             | EP               | CORP              | US        |    282888 | NS      | $6780825.36   | 0.11%             |  |  |  | No            |                  1 | On Loan: No      |
| SWEDBANK AB                                        | SWEDA V7.75 PERP                                                                                                                                       | CUSIP: 000000000<br>LEI: M312WZV08Y7LYUC71685 | Long             | DBT              | CORP              | SE        |   6200000 | PA      | $6594971.00   | 0.10%             | N/A             | Fixed         | 7.75%                 | No            |                  2 | On Loan: No      |
| BROOKFIELD RENEWABLE PARTNERS LP                   | BROOKFIELD RENEWABLE PARTNERS LP 5.25% CLASS A PREFERRED LIMITED PARTNERSHIP UNITS, SERIES 17                                                          | CUSIP: 000000000<br>LEI: VA8DFMRI2GY8Y7V79H93 | Long             | EP               | CORP              | BM        |    638546 | NS      | $11768402.78  | 0.18%             |  |  |  | No            |                  1 | On Loan: No      |
| W. R. BERKLEY CORP                                 | W. R. BERKLEY CORP SUBORDINATED DEBENTURES DUE DECEMBER 30, 2059                                                                                       | CUSIP: 084423805<br>LEI: SQOAGCLKBDWNVYV1OV80 | Long             | EP               | CORP              | US        |    373262 | NS      | $7267411.14   | 0.11%             |  |  |  | No            |                  1 | On Loan: No      |
| T-MOBILE USA INC                                   | T-MOBILE USA INC 5.500% SENIOR NOTES ISSUED DUE ON MARCH 1, 2070                                                                                       | CUSIP: 87264A204<br>LEI: 549300V2JRLO5DIFGE82 | Long             | EP               | CORP              | US        |   3121051 | NS      | $69287332.20  | 1.09%             |  |  |  | No            |                  1 | On Loan: No      |
| SUMITOMO MITSUI FINANCIAL GROUP INC                | SUMIBK V6.6 PERP                                                                                                                                       | CUSIP: 86562MDK3<br>LEI: 35380028MYWPB6AUO129 | Long             | DBT              | CORP              | JP        |  17420000 | PA      | $17642139.84  | 0.28%             | N/A             | Fixed         | 6.60%                 | No            |                  2 | On Loan: No      |
| CENTERPOINT ENERGY INC                             | CNP V6.85 02/15/55 B                                                                                                                                   | CUSIP: 15189TBJ5<br>LEI: 21TPXMRRHFKOBHDC8J74 | Long             | DBT              | CORP              | US        |   1400000 | PA      | $1479174.20   | 0.02%             | 2055-02-15      | Fixed         | 6.85%                 | No            |                  2 | On Loan: No      |
| LIBERTY MUTUAL GROUP INC                           | LIBMUT V4.125 12/15/51 144A                                                                                                                            | CUSIP: 53079EBM5<br>LEI: QUR0DG15Z6FFGYCHH861 | Long             | DBT              | CORP              | US        |   5977000 | PA      | $5912463.82   | 0.09%             | 2051-12-15      | Fixed         | 4.12%                 | No            |                  2 | On Loan: No      |
| CITIGROUP INC                                      | CITIGROUP INC DEPOSITARY SHARES EACH REPRESENTING A 1/1,000TH INTEREST IN A SHARE OF 6.25% NONCUMULATIVE PREFERRED STOCK, SERIES II                    | CUSIP: 172967242<br>LEI: 6SHGI4ZSSLCXXQSBB395 | Long             | EP               | CORP              | US        |     81582 | NS      | $2068103.70   | 0.03%             |  |  |  | No            |                  1 | On Loan: No      |
| MITSUBISHI UFJ FINANCIAL GROUP INC                 | MUFG V6.35 PERP                                                                                                                                        | CUSIP: 606822DP6<br>LEI: 353800V2V8PUY9TK3E06 | Long             | DBT              | CORP              | JP        |  40500000 | PA      | $40825417.50  | 0.64%             | N/A             | Fixed         | 6.35%                 | No            |                  2 | On Loan: No      |
| FORD MOTOR CO                                      | FORD MOTOR CO 6.200% NOTES DUE JUNE 1, 2059                                                                                                            | CUSIP: 345370845<br>LEI: 20S05OYHG0MQM4VUIC57 | Long             | EP               | CORP              | US        |    302776 | NS      | $6400684.64   | 0.10%             |  |  |  | No            |                  1 | On Loan: No      |
| BNP PARIBAS SA                                     | BNP V7.75 PERP 144A                                                                                                                                    | CUSIP: 05565AM34<br>LEI: R0MUWSFPU8MPRO8K5P83 | Long             | DBT              | CORP              | FR        |  36770000 | PA      | $38675972.95  | 0.61%             | N/A             | Fixed         | 7.75%                 | No            |                  2 | On Loan: No      |
| EUSHI FINANCE INC                                  | EMACN V6.25 04/01/56                                                                                                                                   | CUSIP: 29882DAC7<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |  29500000 | PA      | $29234334.80  | 0.46%             | 2056-04-01      | Fixed         | 6.25%                 | No            |                  2 | On Loan: No      |
| T-MOBILE USA INC                                   | T-MOBILE USA INC 6.250% SENIOR NOTES DUE SEPTEMBER 1, 2069                                                                                             | CUSIP: 87264A105<br>LEI: 549300V2JRLO5DIFGE82 | Long             | EP               | CORP              | US        |    473141 | NS      | $11804867.95  | 0.19%             |  |  |  | No            |                  1 | On Loan: No      |
| ARES FINANCE CO III LLC                            | ARES V4.125 06/30/51 144A                                                                                                                              | CUSIP: 04018VAA1<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |  40400000 | PA      | $40277102.39  | 0.63%             | 2051-06-30      | Fixed         | 4.12%                 | No            |                  2 | On Loan: No      |

### Signature

**Date Signed:** 2026-06-22

**Name of Applicant:** First Trust Exchange-Traded Fund III

**Signature:** Derek Maltbie

**Name of Signer:** Derek Maltbie

**Title:** Treasurer, Chief Financial Officer and Chief Accounting Officer