# EDGAR Filing Document

**Accession Number:** 0001260667
**File Stem:** 0001162044-26-000507
**Filing Date:** 2026-6
**Character Count:** 73149
**Document Hash:** 47029f8f97cb14f68e2c58fc2439f097
**Contains OCR:** False
**Source Format:** 

## Filing Content

## Filing Summary
**0001162044-26-000507.hdr.sgml**: 20260601

**ACCESSION NUMBER**: 0001162044-26-000507

**CONFORMED SUBMISSION TYPE**: NPORT-P

**PUBLIC DOCUMENT COUNT**: 2

**CONFORMED PERIOD OF REPORT**: 20260331

**FILED AS OF DATE**: 20260601

**DATE AS OF CHANGE**: 20260601

**PERIOD START**: 20261231

**FILER**: 

**COMPANY DATA:**
- **COMPANY CONFORMED NAME:** ANCORA TRUST
- **CENTRAL INDEX KEY:** 0001260667

**ORGANIZATION NAME:**
- **EIN:** 020712385
- **FISCAL YEAR END:** 1231

**FILING VALUES:**
- **FORM TYPE:** NPORT-P
- **SEC ACT:** 1940 Act
- **SEC FILE NUMBER:** 811-21418
- **FILM NUMBER:** 261049653

**BUSINESS ADDRESS:**
- **STREET 1:** 6060 PARKLAND BOULEVARD, SUITE 200
- **CITY:** CLEVELAND
- **STATE:** OH
- **ZIP:** 44124
- **BUSINESS PHONE:** 216-825-4000

**MAIL ADDRESS:**
- **STREET 1:** 6060 PARKLAND BOULEVARD, SUITE 200
- **CITY:** CLEVELAND
- **STATE:** OH
- **ZIP:** 44124

## Series and Classes Contracts Data

### Ancora Income Fund (Series ID: S000004758)

| Class ID   | Class Name   | Ticker Symbol   |
|:---|:---|:---|
| C000012949 | Class I      | AAIIX           |

## Nport-Ex

---

| | | |
|:---|:---|:---|
| **Ancora Trust** | | |
| **Ancora Income Fund** | | |
| **Schedule of Investments** | | |
| **March 31, 2026 (Unaudited)** | | |
|  | <br>**Shares** | <br>**Value** |
| **Bonds & Corporate Bond Trust Certificated - 9.25%** |  |  |
| **Baby Bonds - 2.46%** |  |  |
| Corebridge Financial, Inc., 6.875%, Due 12/01/2030 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;250000  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;254682  |
| Dominion Energy, Inc., 6.625%, due 2/15/2035 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;250000  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;253815  |
| Citigroup, Inc., 7.125%, due 8/15/2029 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;236000  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;238115  |
| Pacificorp, 7.125%, due 08/15/2056 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;500000  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;472271  |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1218882  |
| **Traditional Corporate Bonds - 6.79%** | **Principal Amount** | **Value** |
| The Allstate Corp., 8.5066%, due 08/15/2053 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;350000  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;349892  |
| The Toronto Dominion Bank, 8.125%, due 10/31/2027 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;500000  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;515710  |
| The Bank of Nova Scotia, 8.625%, due 10/27/2027 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;500000  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;519680  |
| Citigroup, Inc., 7.625%, due 11/15/2028 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;750000  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;775564  |
| Energy Transfer LP, 7.125%, due 5/15/2030 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;350000  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;355945  |
| Fifth Third Bancorp, 7.99428%, due 12/31/2099 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;850000  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;846988  |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3363778  |
| **TOTAL BONDS & CORPORATE BOND TRUST CERTIFICATES (Cost $4,456,757)** |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4582661  |
| **Traditional Preferred - 80.07%** |  |  |
| Affiliated Managers Group, 4.200%, 09/30/2061 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7190  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;105118  |
| Affiliated Managers Group, Inc. 6.750%, due 3/30/2029 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;26000  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;582400  |
| Affiliated Managers Group, Inc., 4.750%, due 09/30/2060 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;25000  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;401750  |
| Affiliated Managers Group, Inc., 5.875%, due 03/30/2059 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;8310  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;162876  |
| AGNC Investment Corp., 6.125%, due 12/31/2099 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;20000  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;485400  |
| AGNC Investment Corp., 6.875%, due 12/31/2099 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;23000  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;565340  |
| American Financial Group, Inc., 4.500% Due 9/15/2060 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;25000  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;405000  |
| American Financial Group, Inc., 5.125%, due 12/15/2059 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;15000  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;271050  |
| American Financial Group, Inc., 5.625%, due 6/01/2060 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;20000  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;391600  |
| Annaly Capital Management, Inc., 6.750%, due 12/31/2099 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;15000  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;371700  |
| Apollo Global Management, Inc., 7.625%, due 09/15/2053 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;20000  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;508600  |
| Arbor Realty Trust, Inc., 6.375%, due 06/02/2026 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;35000  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;582400  |
| Arch Capital Group Ltd., 4.550%, due 12/31/2099 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;25000  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;410750  |
| Arch Capital Group Ltd., 5.450%, due 12/31/2099 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;25000  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;487000  |
| Aspen Insurance Holdings Ltd., 5.625%, due 01/01/2027 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;18000  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;371700  |
| Aspen Insurance Holdings Ltd., 5.625%, due 12/31/2099 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;39829  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;829638  |
| Aspen Insurance Holdings Ltd., 7.000%, due 11/30/2029 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;23123  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;538766  |
| Associated Banc-Corp., 5.625%, due 12/31/2099 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;35000  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;690900  |
| Assurant, Inc., 5.250%, 01/15/2026 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;30000  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;597000  |
| Athene Holding Ltd., 4.875%, due 12/31/2099 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;15000  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;243300  |
| Athene Holding Ltd., 5.625%, due 12/31/2099 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;40240  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;759731  |
| Athene Holding Ltd., 6.350%, due 6/30/2029 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;20000  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;472600  |
| Athene Holding Ltd., 7.250%, due 3/30/2064 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4337  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;102700  |
| Atlanticus Holdings Corp., 6.125%, due 11/30/2026 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;30100  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;752199  |
| Atlanticus Holdings Corp., 9.250%, due 1/31/2029 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;22500  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;566100  |
| Atlanticus Holdings Corp.,7.625%, 06/11/2026 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;10000  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;218500  |
| Axis Capital Holdings Ltd., 5.500%, due 12/31/2049 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;35000  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;679000  |
| Bank OZK, 4.625%, due 11/15/2026 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;40000  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;630400  |
| Brookfield Infrastructure Finance ULC, 7.250%, due 5/31/2084 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;43324  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;981722  |
| Brookfield Infrastructure Partners LP, 5.125%, due 12/31/2099 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;10000  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;161500  |
| Brookfield Oaktree Holdings, LLC, 6.550%, due 12/31/2099 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;11000  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;222750  |
| Brunswick Corp., 6.375%, Due 4/15/2049 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;14021  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;329774  |
| Carlyle Finance LLC., 4.625%, due 05/15/2061 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;60000  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1050000  |
| Corebridge Financial, Inc., 6.375%, due 12/15/2064 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;30000  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;683100  |
| Enterprise Financial Services Corp., 5.000%, due 12/15/2026 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;25000  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;485750  |
| F&G Annuities & Life, Inc., 7.300%, due 1/15/2065 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;40000  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;804000  |
| Federal Agricultural Mortgage Corp., 5.250%, due 12/31/2099 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;41700  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;791466  |
| Federal Agricultural Mortgage Corp., 5.750%, due 12/31/2099 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;25000  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;540000  |
| Fifth Third Bancorp, 6.875%, due 10/1/2030 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;30850  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;803951  |
| First Citizens Bancshares, Inc., 5.625%, due 01/04/2027 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;17500  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;371000  |
| First Horizon Corp., 6.750%, due 4/10/2031 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;20000  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;495000  |
| Global Net Lease, Inc., 6.875%, due 12/31/2099 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;25000  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;533500  |
| Globe Life, Inc., 4.250%, 06/15/2061 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;35000  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;539000  |
| Green Brick Partners, Inc., 5.750%, due 12/23/2026 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;22500  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;483327  |
| Huntington Bancshares, Inc., 6.875%, due 04/15/2028 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;17550  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;431906  |
| Jackson Financial Inc., 8.000%, due 03/30/2028 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;23000  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;573850  |
| KeyCorp, 5.650%, due 12/31/2099 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;20000  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;416000  |
| KeyCorp, 6.200%, due 12/15/2027 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;25000  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;593250  |
| KKR & Co., Inc., 6.250%, Due 3/01/2025 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7500  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;301650  |
| KKR & Co., Inc., 6.875%, Due 6/01/2065 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;17986  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;418354  |
| Merchants Bancorp, 7.625%, due 1/01/2030 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;50000  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1191500  |
| MFA Financial, Inc., 7.500%, due 12/31/2099 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;20000  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;382000  |
| MFA Financial, Inc., 8.875%, due 2/15/2029 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;10000  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;249500  |
| Oaktree Capital Group, 6.625% Perp. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;20000  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;404400  |
| Old National Bancorp, 7.000%, due 12/31/2099 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;39  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;957  |
| PennyMac Mortgage Investment Trust, 6.750%, due 08/24/2026 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;23000  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;399280  |
| Redwood Trust, Inc., 10.00%, Cumulative Perp Call 04/15/28@25.00 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;30000  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;720000  |
| Redwood Trust, Inc., 9.000%, 09/01/2029 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;25000  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;611000  |
| Redwood Trust, Inc., 9.125%, due 3/01/2030 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;10000  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;235750  |
| Regions Financial Corp., 6.950%, due 9/15/2029 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;20000  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;498000  |
| Reinsurance Group of America, Inc., 7.125%, due 10/15/2027 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;10000  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;254100  |
| RenaissanceRe Holding Ltd., 4.200%, 7/15/2026 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;30000  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;453300  |
| Rithm Capital Corp., 11.0197%, due 12/31/2099 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;16227  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;393342  |
| Rithm Capital Corp., 7.000%, due 11/15/2026 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;15000  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;364950  |
| Rithm Capital Corp., 8.750%, due 11/15/2030 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;40000  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;960000  |
| Stifel Financial Corp., 4.500%, due 08/15/2026 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;30000  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;516000  |
| Summit Hotel Properties, Inc., 6.250%, due 12/31/2099 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;20000  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;347000  |
| Synchrony Financial, 5.625%, due 12/31/2099 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;65000  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1207050  |
| Synchrony Financials, 8.250%, due 5/15/2029 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;22500  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;566550  |
| Texas Capital Bancshares, Inc., 5.750%, due 6/15/2026 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;80000  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1767200  |
| TPG Operating Group II, LP, 6.950, due 3/15/2064 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;50000  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1249000  |
| Webster Financial Corp., 5.250%, due 12/31/2099 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;35000  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;723800  |
| Webster Financial Corp., 6.500%, due 3/23/2026 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;20000  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;466000  |
| WesBanco, Inc.,7.375%, Due 10/1/2030 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;20000  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;501000  |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;39656047  |
| **TOTAL TRADITIONAL PREFERRED (Cost $41,645,785)** |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;39656047  |
| **REIT Senior Securities - 1.73%** |  |  |
| Pebblebrook Hotel Trust, 6.300%, due 12/31/2099 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;25000  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;482500  |
| UMH Properties, Inc., 6.375%, Series D | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;18000  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;373680  |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;856180  |
| **TOTAL REIT SENIOR SECURITIES (Cost $984,156)** |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;856180  |
| **Common Stocks - 5.96%** |  |  |
| **Communications - 1.05%** |  |  |
| Sirius XM Holdings, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;22500  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;519300  |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;519300  |
| **Financials - 1.18%** |  |  |
| Blackstone Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2600  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;298974  |
| TPG, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7000  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;283570  |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;582544  |
| **Industrials - 1.59%** |  |  |
| United Parcel Service, Inc.  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;8000  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;787040  |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;787040  |
| **Oil, Gas & Consumable Fuels - 0%** |  |  |
| Energy Transfer LP. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;20000  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;386000  |
| Enterprise Products Partners LP | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;13000  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;491920  |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;877920  |
| **Pharmaceuticals - 1.42%** |  |  |
| Pfizer, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;25000  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;702000  |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;702000  |
| **TOTAL COMMON STOCKS (Cost $2,790,756)** |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2949504  |
| **Money Market Funds - 2%** |  |  |
| Federated Hermes Government Obligations Fund - Institutional Class 3.64% (a) | 990226 | 990226 |
|  |  | 990226 |
| **TOTAL MONEY MARKET FUNDS (Cost $990,226)** |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;990226  |
| **TOTAL INVESTMENTS (Cost $50,867,680) - 99%** |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;49034617  |
| **Liabilities In Excess of Other Assets - (0.38)%** |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;494708  |
| **TOTAL NET ASSETS - 100.00%** |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;49529325  |
| (a) Variable rate security; the coupon rate shown represents the 7-day yield as of March 31, 2026. | (a) Variable rate security; the coupon rate shown represents the 7-day yield as of March 31, 2026. | (a) Variable rate security; the coupon rate shown represents the 7-day yield as of March 31, 2026. |

---

## Form NPORT-P: Monthly Portfolio Investments Report

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

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

- **a. Name of Registrant:** ANCORA TRUST

- **b. Investment Company Act file number:** 811-21418

- **c. CIK number of Registrant:** 0001260667

- **d. LEI of Registrant:** 549300QN8N2QFNY1O803

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

  - **Street Address 1:** 6060 Parkland Boulevard

  - **City:** Cleveland

  - **State:** OH

  - **Foreign country:** US

  - **Zip / Postal Code:** 44124

  - **Telephone number:** 216-593-5020

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

- **a. Name of Series:** Ancora Income Fund

- **b. EDGAR series identifier (if any):** S000004758

- **c. LEI of Series:** 54930001436ZA2EMS338

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

- **a. Date of fiscal year-end:** 2026-12-31

- **b. Date as of which information is reported:** 2026-03-31

**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:** $49773273.96

**Total Liabilities:** $243948.77

**Net Assets:** $49529325.19

**Monthly Return Information**

| Class               | Month 1 Return (%)   | Month 2 Return (%)   | Month 3 Return (%)   |
|:---|:---|:---|:---|
| Class ID C000012949 | 1.76%                | 1.18%                | -2.83%               |

**Monthly Gains & Losses**

| Period   | Net Realized Gain/Loss   | Net Unrealized Appreciation/Depreciation   |
|:---|:---|:---|
| Month 1  | $30076.60                | $740692.30                                 |
| Month 2  | $133153.85               | $186078.62                                 |
| Month 3  | $-13600.90               | $-1766888.52                               |

### 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   |
|:---|:---|:---|:---|:---|:---|:---|---:|:---|:---|:---|:---|:---|:---|:---|---:|:---|
| AGNC Investment Corp.                                              | AGNC Investment Corp., 6.125%, due 12/31/2099                       | CUSIP: 00123Q872<br>LEI: 5TRACI5HRMELWV32OF39 | Long             | EP               | CORP              | US        |     20000 | NS      | $485400.00    | 0.98%             |  |  |  | No            |                  1 | On Loan: No      |
| AGNC Investment Corp.                                              | AGNC Investment Corp., 6.875%, due 12/31/2099                       | CUSIP: 00123Q609<br>LEI: 5TRACI5HRMELWV32OF39 | Long             | EP               | CORP              | US        |     23000 | NS      | $565340.00    | 1.14%             |  |  |  | No            |                  1 | On Loan: No      |
| Affiliated Managers Group, Inc.                                    | Affiliated Managers Group, 4.200%, 09/30/2061                       | CUSIP: 008252835<br>LEI: 2JE75BUE3T1BLCYYGK54 | Long             | EP               | CORP              | US        |      7190 | NS      | $105117.80    | 0.21%             |  |  |  | No            |                  1 | On Loan: No      |
| Affiliated Managers Group, Inc.                                    | Affiliated Managers Group, Inc. 6.750%, due 3/30/2029               | CUSIP: 008252827<br>LEI: N/A                  | Long             | EP               | CORP              | US        |     26000 | NS      | $582400.00    | 1.18%             |  |  |  | No            |                  1 | On Loan: No      |
| Affiliated Managers Group, Inc.                                    | Affiliated Managers Group, Inc., 4.750%, due 09/30/2060             | CUSIP: 008252843<br>LEI: 2JE75BUE3T1BLCYYGK54 | Long             | EP               | CORP              | US        |     25000 | NS      | $401750.00    | 0.81%             |  |  |  | No            |                  1 | On Loan: No      |
| Affiliated Managers Group, Inc.                                    | Affiliated Managers Group, Inc., 5.875%, due 03/30/2059             | CUSIP: 008252850<br>LEI: 2JE75BUE3T1BLCYYGK54 | Long             | EP               | CORP              | US        |      8310 | NS      | $162876.00    | 0.33%             |  |  |  | No            |                  1 | On Loan: No      |
| American Financial Group, Inc.                                     | American Financial Group, Inc., 4.500% Due 9/15/2060                | CUSIP: 025932864<br>LEI: N/A                  | Long             | EP               | CORP              | US        |     25000 | NS      | $405000.00    | 0.82%             |  |  |  | No            |                  1 | On Loan: No      |
| American Financial Group, Inc.                                     | American Financial Group, Inc., 5.125%, due 12/15/2059              | CUSIP: 025932880<br>LEI: N/A                  | Long             | EP               | CORP              | US        |     15000 | NS      | $271050.00    | 0.55%             |  |  |  | No            |                  1 | On Loan: No      |
| American Financial Group, Inc.                                     | American Financial Group, Inc., 5.625%, due 6/01/2060               | CUSIP: 025932872<br>LEI: N/A                  | Long             | EP               | CORP              | US        |     20000 | NS      | $391600.00    | 0.79%             |  |  |  | No            |                  1 | On Loan: No      |
| Annaly Capital Management, Inc.                                    | Annaly Capital Management, Inc., 6.750%, due 12/31/2099             | CUSIP: 035710847<br>LEI: N/A                  | Long             | EP               | CORP              | US        |     15000 | NS      | $371700.00    | 0.75%             |  |  |  | No            |                  1 | On Loan: No      |
| Apollo Global Management, Inc.                                     | Apollo Global Management, Inc., 7.625%, due 09/15/2053              | CUSIP: 03769M205<br>LEI: N/A                  | Long             | EP               | CORP              | US        |     20000 | NS      | $508600.00    | 1.03%             |  |  |  | No            |                  1 | On Loan: No      |
| Arbor Realty Trust, Inc.                                           | Arbor Realty Trust, Inc., 6.375%, due 06/02/2026                    | CUSIP: 038923876<br>LEI: 549300ASFUWYQO0RW077 | Long             | EP               | CORP              | US        |     35000 | NS      | $582400.00    | 1.18%             |  |  |  | No            |                  1 | On Loan: No      |
| Arch Capital Group Ltd.                                            | Arch Capital Group Ltd., 4.550%, due 12/31/2099                     | CUSIP: 03939A404<br>LEI: N/A                  | Long             | EP               | CORP              | US        |     25000 | NS      | $410750.00    | 0.83%             |  |  |  | No            |                  1 | On Loan: No      |
| Arch Capital Group Ltd.                                            | Arch Capital Group Ltd., 5.450%, due 12/31/2099                     | CUSIP: 03939A107<br>LEI: 549300AYR4P8AFKDCE43 | Long             | EP               | CORP              | US        |     25000 | NS      | $487000.00    | 0.98%             |  |  |  | No            |                  1 | On Loan: No      |
| Aspen Insurance Holdings Ltd.                                      | Aspen Insurance Holdings Ltd., 5.625%, due 01/01/2027               | CUSIP: G05384162<br>LEI: 549300YX6HECG9XQCQ75 | Long             | EP               | CORP              | BM        |     18000 | NS      | $371700.00    | 0.75%             |  |  |  | No            |                  1 | On Loan: No      |
| Aspen Insurance Holdings Ltd.                                      | Aspen Insurance Holdings Ltd., 5.625%, due 12/31/2099               | CUSIP: G05384204<br>LEI: 549300YX6HECG9XQCQ75 | Long             | EP               | CORP              | BM        |     39829 | NS      | $829638.07    | 1.68%             |  |  |  | No            |                  1 | On Loan: No      |
| Aspen Insurance Holdings Ltd.                                      | Aspen Insurance Holdings Ltd., 7.000%, due 11/30/2029               | CUSIP: G05384170<br>LEI: N/A                  | Long             | EP               | CORP              | BM        |     23123 | NS      | $538765.90    | 1.09%             |  |  |  | No            |                  1 | On Loan: No      |
| Associated Banc-Corp                                               | Associated Banc-Corp., 5.625%, due 12/31/2099                       | CUSIP: 045487402<br>LEI: N/A                  | Long             | EP               | CORP              | US        |     35000 | NS      | $690900.00    | 1.39%             |  |  |  | No            |                  1 | On Loan: No      |
| Assurant, Inc.                                                     | Assurant, Inc., 5.250%, 01/15/2061                                  | CUSIP: 04621X306<br>LEI: N/A                  | Long             | EP               | CORP              | US        |     30000 | NS      | $597000.00    | 1.21%             |  |  |  | No            |                  1 | On Loan: No      |
| Athene Holding Ltd.                                                | Athene Holding Ltd., 4.875%, due 12/31/2099                         | CUSIP: 04686J408<br>LEI: N/A                  | Long             | EP               | CORP              | US        |     15000 | NS      | $243300.00    | 0.49%             |  |  |  | No            |                  1 | On Loan: No      |
| Athene Holding Ltd.                                                | Athene Holding Ltd., 5.625%, due 12/31/2099                         | CUSIP: 04686J200<br>LEI: 549300H316CT32FQXI76 | Long             | EP               | CORP              | BM        |     40240 | NS      | $759731.20    | 1.53%             |  |  |  | No            |                  1 | On Loan: No      |
| Athene Holding Ltd.                                                | Athene Holding Ltd., 6.350%, due 6/30/2029                          | CUSIP: 04686J861<br>LEI: 549300H316CT32FQXI76 | Long             | EP               | CORP              | US        |     20000 | NS      | $472600.00    | 0.95%             |  |  |  | No            |                  1 | On Loan: No      |
| Athene Holding Ltd.                                                | Athene Holding Ltd., 7.250%, due 3/30/2064                          | CUSIP: 04686J838<br>LEI: N/A                  | Long             | EP               | CORP              | US        |      4337 | NS      | $102700.16    | 0.21%             |  |  |  | No            |                  1 | On Loan: No      |
| Atlanticus Holdings Corp.                                          | Atlanticus Holdings Corp., 6.125%, due 11/30/2026                   | CUSIP: 04914Y300<br>LEI: N/A                  | Long             | EP               | CORP              | US        |     30100 | NS      | $752199.00    | 1.52%             |  |  |  | No            |                  1 | On Loan: No      |
| Atlanticus Holdings Corp.                                          | Atlanticus Holdings Corp., 9.250%, due 1/31/2029                    | CUSIP: 04914Y409<br>LEI: N/A                  | Long             | EP               | CORP              | US        |     22500 | NS      | $566100.00    | 1.14%             |  |  |  | No            |                  1 | On Loan: No      |
| Atlanticus Holdings Corp.                                          | Atlanticus Holdings Corp.,7.625%, 06/11/2026                        | CUSIP: 04914Y201<br>LEI: N/A                  | Long             | EP               | CORP              | US        |     10000 | NS      | $218500.00    | 0.44%             |  |  |  | No            |                  1 | On Loan: No      |
| Axis Capital Holdings Ltd.                                         | Axis Capital Holdings Ltd., 5.500%, due 12/31/2049                  | CUSIP: 05461T305<br>LEI: N/A                  | Long             | EP               | CORP              | BM        |     35000 | NS      | $679000.00    | 1.37%             |  |  |  | No            |                  1 | On Loan: No      |
| Morgan Stanley                                                     | Bank OZK, 4.625%, due 11/15/2026                                    | CUSIP: 06417N202<br>LEI: 549300VYK2WBD7SST478 | Long             | EP               | CORP              | US        |     40000 | NS      | $630400.00    | 1.27%             |  |  |  | No            |                  1 | On Loan: No      |
| Blackstone, Inc.                                                   | Blackstone, Inc.                                                    | CUSIP: 09260D107<br>LEI: N/A                  | Long             | EC               | CORP              | US        |      2600 | NS      | $298974.00    | 0.60%             |  |  |  | No            |                  1 | On Loan: No      |
| Brookfield Infrastructure Finance ULC                              | Brookfield Infrastructure Finance ULC, 7.250%, due 5/31/2084        | CUSIP: 11276B208<br>LEI: N/A                  | Long             | EP               | CORP              | US        |     43324 | NS      | $981721.84    | 1.98%             |  |  |  | No            |                  1 | On Loan: No      |
| Brookfield Infrastructure Partners LP                              | Brookfield Infrastructure Partners LP, 5.125%, due 12/31/2099       | CUSIP: G16252267<br>LEI: 549300WEH5R2OODI7Y90 | Long             | EP               | CORP              | BM        |     10000 | NS      | $161500.00    | 0.33%             |  |  |  | No            |                  1 | On Loan: No      |
| Oaktree Capital Group, LLC                                         | Brookfield Oaktree Holdings, LLC, 6.550%, due 12/31/2099            | CUSIP: 674001409<br>LEI: 254900T1ODNFOK2L6090 | Long             | EP               | CORP              | CA        |     11000 | NS      | $222750.00    | 0.45%             |  |  |  | No            |                  1 | On Loan: No      |
| Brunswick Corp.                                                    | Brunswick Corp., 6.375%, Due 4/15/2049                              | CUSIP: 117043604<br>LEI: N/A                  | Long             | EP               | CORP              | US        |     14021 | NS      | $329773.92    | 0.67%             |  |  |  | No            |                  1 | On Loan: No      |
| The Carlyle Group, Inc.                                            | Carlyle Finance LLC., 4.625%, due 05/15/2061                        | CUSIP: 14314C105<br>LEI: 529900NGGVF94UK6PG95 | Long             | EP               | CORP              | US        |     60000 | NS      | $1050000.00   | 2.12%             |  |  |  | No            |                  1 | On Loan: No      |
| Citigroup, Inc.                                                    | Citigroup, Inc., 7.125%, due 8/15/2029                              | CUSIP: 172967PK1<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    236000 | PA      | $238114.80    | 0.48%             | 2029-08-15      | Variable      | 7.13%                 | No            |                  1 | On Loan: No      |
| Citigroup, Inc.                                                    | Citigroup, Inc., 7.625%, due 11/15/2028                             | CUSIP: 172967PE5<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    750000 | PA      | $775563.75    | 1.57%             | 2028-11-15      | Variable      | 7.63%                 | No            |                  1 | On Loan: No      |
| Corebridge Financial, Inc.                                         | Corebridge Financial, Inc., 6.375%, due 12/15/2064                  | CUSIP: 21871X208<br>LEI: N/A                  | Long             | EP               | CORP              | US        |     30000 | NS      | $683100.00    | 1.38%             |  |  |  | No            |                  1 | On Loan: No      |
| Corebridge Financial, Inc.                                         | Corebridge Financial, Inc., 6.875%, Due 12/01/2030                  | CUSIP: 21871XAU3<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    250000 | PA      | $254682.00    | 0.51%             | 2030-12-01      | Variable      | 6.88%                 | No            |                  1 | On Loan: No      |
| Dominion Energy, Inc.                                              | Dominion Energy, Inc., 6.625%, due 2/15/2035                        | CUSIP: 25746UDV8<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    250000 | PA      | $253814.75    | 0.51%             | 2050-12-31      | Variable      | 6.63%                 | No            |                  1 | On Loan: No      |
| Energy Transfer Operating LP                                       | Energy Transfer LP, 7.125%, due 5/15/2030                           | CUSIP: 29273VAM2<br>LEI: MTLVN9N7JE8MIBIJ1H73 | Long             | DBT              | CORP              | US        |    350000 | PA      | $355945.45    | 0.72%             | 2030-05-15      | Variable      | 7.13%                 | No            |                  1 | On Loan: No      |
| Energy Transfer LP.                                                | Energy Transfer LP.                                                 | CUSIP: 29273V100<br>LEI: MTLVN9N7JE8MIBIJ1H73 | Long             | EC               | CORP              | US        |     20000 | NS      | $386000.00    | 0.78%             |  |  |  | No            |                  1 | On Loan: No      |
| Enterprise Financial Services Corp.                                | Enterprise Financial Services Corp., 5.000%, due 12/15/2026         | CUSIP: 293712303<br>LEI: 5493001XTU5DLD632129 | Long             | EP               | CORP              | US        |     25000 | NS      | $485750.00    | 0.98%             |  |  |  | No            |                  1 | On Loan: No      |
| Enterprise Products Partners LP                                    | Enterprise Products Partners LP                                     | CUSIP: 293792107<br>LEI: K4CDIF4M54DJZ6TB4Q48 | Long             | EC               | CORP              | US        |     13000 | NS      | $491920.00    | 0.99%             |  |  |  | No            |                  1 | On Loan: No      |
| F&G Annuities & Life, Inc.                                         | F&G Annuities & Life, Inc., 7.300%, due 1/15/2065                   | CUSIP: 30190A609<br>LEI: N/A                  | Long             | EP               | CORP              | US        |     40000 | NS      | $804000.00    | 1.62%             |  |  |  | No            |                  1 | On Loan: No      |
| Federal Agricultural Mortgage Corp.                                | Federal Agricultural Mortgage Corp., 5.250%, due 12/31/2099         | CUSIP: 313148843<br>LEI: 549300MS654K78GYF580 | Long             | EP               | CORP              | US        |     41700 | NS      | $791466.00    | 1.60%             |  |  |  | No            |                  1 | On Loan: No      |
| Federal Agricultural Mortgage Corp.                                | Federal Agricultural Mortgage Corp., 5.750%, due 12/31/2099         | CUSIP: 313148850<br>LEI: 549300MS654K78GYF580 | Long             | EP               | CORP              | US        |     25000 | NS      | $540000.00    | 1.09%             |  |  |  | No            |                  1 | On Loan: No      |
| Federated Hermes Government Obligations Fund - Institutional Class | Federated Hermes Government Obligations Fund - Institutional Class  | CUSIP: 60934N104<br>LEI: 25490005VWJDWX717014 | Long             | STIV             | RF                | US        |    990226 | NS      | $990225.50    | 2.00%             |  |  |  | No            |                  1 | On Loan: No      |
| Fifth Third Bancorp                                                | Fifth Third Bancorp, 6.875%, due 10/1/2030                          | CUSIP: 316773837<br>LEI: THRNG6BD57P9QWTQLG42 | Long             | EP               | CORP              | US        |     30850 | NS      | $803951.00    | 1.62%             |  |  |  | No            |                  1 | On Loan: No      |
| Fifth Third Bancorp                                                | Fifth Third Bancorp, 7.99428%, due 12/31/2099                       | CUSIP: 316773CR9<br>LEI: THRNG6BD57P9QWTQLG42 | Long             | DBT              | CORP              | US        |    850000 | PA      | $846987.94    | 1.71%             | 2050-12-31      | Fixed         | 7.99%                 | No            |                  1 | On Loan: No      |
| First-Citizens Bank & Trust Co.                                    | First Citizens Bancshares, Inc., 5.625%, due 01/04/2027             | CUSIP: 31959X202<br>LEI: N/A                  | Long             | EP               | CORP              | US        |     17500 | NS      | $371000.00    | 0.75%             |  |  |  | No            |                  1 | On Loan: No      |
| First Horizon Corp.                                                | First Horizon Corp., 6.750%, due 4/10/2031                          | CUSIP: 320517840<br>LEI: N/A                  | Long             | EP               | CORP              | US        |     20000 | NS      | $495000.00    | 1.00%             |  |  |  | No            |                  1 | On Loan: No      |
| Global Net Lease, Inc.                                             | Global Net Lease, Inc., 6.875%, due 12/31/2099                      | CUSIP: 379378409<br>LEI: 549300NUYANCT5SU8Z65 | Long             | EP               | CORP              | US        |     25000 | NS      | $533500.00    | 1.08%             |  |  |  | No            |                  1 | On Loan: No      |
| Globe Life, Inc.                                                   | Globe Life, Inc., 4.250%, 06/15/2061                                | CUSIP: 37959E300<br>LEI: 5493001JFHKQOPP6XA71 | Long             | EP               | CORP              | US        |     35000 | NS      | $539000.00    | 1.09%             |  |  |  | No            |                  1 | On Loan: No      |
| Green Brick Partners, Inc.                                         | Green Brick Partners, Inc., 5.750%, due 12/23/2026                  | CUSIP: 392709200<br>LEI: 549300R7SCIV7FQI6T56 | Long             | EP               | CORP              | US        |     22500 | NS      | $483327.00    | 0.98%             |  |  |  | No            |                  1 | On Loan: No      |
| Huntington Bancshares, Inc.                                        | Huntington Bancshares, Inc., 6.875%, due 04/15/2028                 | CUSIP: 446150773<br>LEI: 549300XTVCVV9I7B5T19 | Long             | EP               | CORP              | US        |     17550 | NS      | $431905.50    | 0.87%             |  |  |  | No            |                  1 | On Loan: No      |
| Jackson Financial, Inc.                                            | Jackson Financial Inc., 8.000%, due 03/30/2028                      | CUSIP: 46817M206<br>LEI: N/A                  | Long             | EP               | CORP              | US        |     23000 | NS      | $573850.00    | 1.16%             |  |  |  | No            |                  1 | On Loan: No      |
| KKR & Co., Inc.                                                    | KKR & Co., Inc., 6.250%, Due 03/01/2028                             | CUSIP: 48251W500<br>LEI: N/A                  | Long             | EP               | CORP              | US        |      7500 | NS      | $301650.00    | 0.61%             |  |  |  | No            |                  1 | On Loan: No      |
| KKR & Co., Inc.                                                    | KKR & Co., Inc., 6.875%, Due 6/01/2065                              | CUSIP: 48251W609<br>LEI: N/A                  | Long             | EP               | CORP              | US        |     17986 | NS      | $418354.36    | 0.84%             |  |  |  | No            |                  1 | On Loan: No      |
| Keycorp                                                            | KeyCorp, 5.650%, due 12/31/2099                                     | CUSIP: 493267876<br>LEI: N/A                  | Long             | EP               | CORP              | US        |     20000 | NS      | $416000.00    | 0.84%             |  |  |  | No            |                  1 | On Loan: No      |
| Keycorp                                                            | KeyCorp, 6.200%, due 12/15/2027                                     | CUSIP: 493267843<br>LEI: N/A                  | Long             | EP               | CORP              | US        |     25000 | NS      | $593250.00    | 1.20%             |  |  |  | No            |                  1 | On Loan: No      |
| MFA Financial, Inc.                                                | MFA Financial, Inc., 7.500%, due 12/31/2099                         | CUSIP: 55272X409<br>LEI: N/A                  | Long             | EP               | CORP              | US        |     20000 | NS      | $382000.00    | 0.77%             |  |  |  | No            |                  1 | On Loan: No      |
| MFA Financial, Inc.                                                | MFA Financial, Inc., 8.875%, due 2/15/2029                          | CUSIP: 55272X706<br>LEI: N/A                  | Long             | EP               | CORP              | US        |     10000 | NS      | $249500.00    | 0.50%             |  |  |  | No            |                  1 | On Loan: No      |
| Merchants Bancorp                                                  | Merchants Bancorp, 7.625%, due 1/01/2030                            | CUSIP: 58844R850<br>LEI: N/A                  | Long             | EP               | CORP              | US        |     50000 | NS      | $1191500.00   | 2.41%             |  |  |  | No            |                  1 | On Loan: No      |
| Oaktree Capital Group, LLC                                         | Oaktree Capital Group, 6.625% Perp.                                 | CUSIP: 674001300<br>LEI: 254900T1ODNFOK2L6090 | Long             | EC               | CORP              | US        |     20000 | NS      | $404400.00    | 0.82%             |  |  |  | No            |                  1 | On Loan: No      |
| Old National Bancorp                                               | Old National Bancorp, 7.000%, due 12/31/2099                        | CUSIP: 68003D303<br>LEI: 549300MMK90CL5KMVX16 | Long             | EP               | CORP              | US        |        39 | NS      | $956.67       | 0.00%             |  |  |  | No            |                  1 | On Loan: No      |
| Pacificorp                                                         | Pacificorp, 7.125%, due 08/15/2056                                  | CUSIP: 695114DG0<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    500000 | PA      | $472270.70    | 0.95%             | 2050-12-31      | Variable      | 7.13%                 | No            |                  1 | On Loan: No      |
| Pebblebrook Hotel Trust                                            | Pebblebrook Hotel Trust, 6.300%, due 12/31/2099                     | CUSIP: 70509V704<br>LEI: 5493004Q1NNH6JXCSI52 | Long             | EP               | CORP              | US        |     25000 | NS      | $482500.00    | 0.97%             |  |  |  | No            |                  1 | On Loan: No      |
| PennyMac Mortgage Investment Trust                                 | PennyMac Mortgage Investment Trust, 6.750%, due 08/24/2026          | CUSIP: 70931T509<br>LEI: 549300BSSOQO1ZWDUJ97 | Long             | EP               | CORP              | US        |     23000 | NS      | $399280.00    | 0.81%             |  |  |  | No            |                  1 | On Loan: No      |
| Pfizer, Inc.                                                       | Pfizer, Inc.                                                        | CUSIP: 717081103<br>LEI: 765LHXWGK1KXCLTFYQ30 | Long             | EC               | CORP              | US        |     25000 | NS      | $702000.00    | 1.42%             |  |  |  | No            |                  1 | On Loan: No      |
| Redwood Trust, Inc.                                                | Redwood Trust, Inc., 10.00%, Cumulative Perp Call 04/15/2028 @25.00 | CUSIP: 758075808<br>LEI: N/A                  | Long             | EP               | CORP              | US        |     30000 | NS      | $720000.00    | 1.45%             |  |  |  | No            |                  1 | On Loan: No      |
| Redwood Trust, Inc.                                                | Redwood Trust, Inc., 9.000%, 09/01/2029                             | CUSIP: 758075873<br>LEI: N/A                  | Long             | EP               | CORP              | US        |     25000 | NS      | $611000.00    | 1.23%             |  |  |  | No            |                  1 | On Loan: No      |
| Redwood Trust, Inc.                                                | Redwood Trust, Inc., 9.125%, due 3/01/2030                          | CUSIP: 758075865<br>LEI: N/A                  | Long             | EP               | CORP              | US        |     10000 | NS      | $235750.00    | 0.48%             |  |  |  | No            |                  1 | On Loan: No      |
| Regions Financial Corp.                                            | Regions Financial Corp., 6.950%, due 9/15/2029                      | CUSIP: 7591EP860<br>LEI: CW05CS5KW59QTC0DG824 | Long             | EP               | CORP              | US        |     20000 | NS      | $498000.00    | 1.01%             |  |  |  | No            |                  1 | On Loan: No      |
| Raymond James Financial, Inc.                                      | Reinsurance Group of America, Inc., 7.125%, due 10/15/2027          | CUSIP: 759351885<br>LEI: N/A                  | Long             | EP               | CORP              | US        |     10000 | NS      | $254100.00    | 0.51%             |  |  |  | No            |                  1 | On Loan: No      |
| RenaissanceRe Holding Ltd.                                         | RenaissanceRe Holding Ltd., 4.200%, 7/15/2026                       | CUSIP: G7498P127<br>LEI: N/A                  | Long             | EP               | CORP              | BM        |     30000 | NS      | $453300.00    | 0.92%             |  |  |  | No            |                  1 | On Loan: No      |
| New Residential Investment Corp.                                   | Rithm Capital Corp., 11.0197%, due 12/31/2099                       | CUSIP: 64828T409<br>LEI: 549300WNTHGEO5LP2G31 | Long             | EP               | CORP              | US        |     16227 | NS      | $393342.48    | 0.79%             |  |  |  | No            |                  1 | On Loan: No      |
| Rithm Capital Corp.                                                | Rithm Capital Corp., 7.000%, due 11/15/2026                         | CUSIP: 64828T706<br>LEI: N/A                  | Long             | EP               | CORP              | US        |     15000 | NS      | $364950.00    | 0.74%             |  |  |  | No            |                  1 | On Loan: No      |
| Rithm Capital Corp.                                                | Rithm Capital Corp., 8.750%, due 11/15/2030                         | CUSIP: 64828T805<br>LEI: 549300WNTHGEO5LP2G31 | Long             | EP               | CORP              | US        |     40000 | NS      | $960000.00    | 1.94%             |  |  |  | No            |                  1 | On Loan: No      |
| Sirius XM Holdings, Inc.                                           | Sirius XM Holdings, Inc.                                            | CUSIP: 829933100<br>LEI: N/A                  | Long             | EC               | CORP              | US        |     22500 | NS      | $519300.00    | 1.05%             |  |  |  | No            |                  1 | On Loan: No      |
| Stifel Financial Corp.                                             | Stifel Financial Corp., 4.500%, due 08/15/2026                      | CUSIP: 860630862<br>LEI: N/A                  | Long             | EP               | CORP              | US        |     30000 | NS      | $516000.00    | 1.04%             |  |  |  | No            |                  1 | On Loan: No      |
| Summit Hotel Properties, Inc.                                      | Summit Hotel Properties, Inc., 6.250%, due 12/31/2099               | CUSIP: 866082605<br>LEI: 254900OBQWJK6X20LS71 | Long             | EP               | CORP              | US        |     20000 | NS      | $347000.00    | 0.70%             |  |  |  | No            |                  1 | On Loan: No      |
| Synchrony Financials                                               | Synchrony Financials, 5.625%, due 12/31/2099                        | CUSIP: 87165B202<br>LEI: 549300RS7EWPM9MA6C78 | Long             | EP               | CORP              | US        |     65000 | NS      | $1207050.00   | 2.44%             |  |  |  | No            |                  1 | On Loan: No      |
| Synchrony Financials                                               | Synchrony Financials, 8.250%, due 5/15/2029                         | CUSIP: 87165B400<br>LEI: 549300RS7EWPM9MA6C78 | Long             | EP               | CORP              | US        |     22500 | NS      | $566550.00    | 1.14%             |  |  |  | No            |                  1 | On Loan: No      |
| TPG Operating Group II, LP                                         | TPG Operating Group II, LP, 6.950, due 3/15/2064                    | CUSIP: 872652102<br>LEI: N/A                  | Long             | EP               | CORP              | US        |     50000 | NS      | $1249000.00   | 2.52%             |  |  |  | No            |                  1 | On Loan: No      |
| TPG, Inc.                                                          | TPG, Inc.                                                           | CUSIP: 872657101<br>LEI: N/A                  | Long             | EC               | CORP              | US        |      7000 | NS      | $283570.00    | 0.57%             |  |  |  | No            |                  1 | On Loan: No      |
| Texas Capital Bancshares, Inc.                                     | Texas Capital Bancshares, Inc., 5.750%, due 6/15/2026               | CUSIP: 88224Q305<br>LEI: N/A                  | Long             | EP               | CORP              | US        |     80000 | NS      | $1767200.00   | 3.57%             |  |  |  | No            |                  1 | On Loan: No      |
| The Allstate Corp.                                                 | The Allstate Corp., 8.5066%, due 08/15/2053                         | CUSIP: 020002BB6<br>LEI: OBT0W1ED8G0NWVOLOJ77 | Long             | DBT              | CORP              | US        |    350000 | PA      | $349891.71    | 0.71%             | 2050-12-31      | Variable      | 8.51%                 | No            |                  1 | On Loan: No      |
| The Bank of Nova Scotia                                            | The Bank of Nova Scotia, 8.625%, due 10/27/2027                     | CUSIP: 0641598S8<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    500000 | PA      | $519680.00    | 1.05%             | 2050-12-31      | Variable      | 8.63%                 | No            |                  1 | On Loan: No      |
| The Toronto Dominion Bank                                          | The Toronto Dominion Bank, 8.125%, due 10/31/2027                   | CUSIP: 89117F8Z5<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    500000 | PA      | $515709.50    | 1.04%             | 2050-12-31      | Variable      | 8.13%                 | No            |                  1 | On Loan: No      |
| UMH Properties, Inc.                                               | UMH Properties, Inc., 6.375%, Series D                              | CUSIP: 903002509<br>LEI: 529900OM5K3PJ11F0Q09 | Long             | EP               | CORP              | US        |     18000 | NS      | $373680.00    | 0.75%             |  |  |  | No            |                  1 | On Loan: No      |
| United Parcel Service, Inc.                                        | United Parcel Service, Inc.                                         | CUSIP: 911312106<br>LEI: D01LMJZU09ULLNCY6Z23 | Long             | EC               | CORP              | US        |      8000 | NS      | $787040.00    | 1.59%             |  |  |  | No            |                  1 | On Loan: No      |
| Webster Financial Corp.                                            | Webster Financial Corp., 5.250%, due 12/31/2099                     | CUSIP: 947890505<br>LEI: KMRURHT0VWKYS6Z5KU67 | Long             | EP               | CORP              | US        |     35000 | NS      | $723800.00    | 1.46%             |  |  |  | No            |                  1 | On Loan: No      |
| Webster Financial Corp.                                            | Webster Financial Corp., 6.500%, Perp. 6/12/2026 @ $25.00           | CUSIP: 947890703<br>LEI: N/A                  | Long             | EP               | CORP              | US        |     20000 | NS      | $466000.00    | 0.94%             |  |  |  | No            |                  1 | On Loan: No      |
| WesBanco, Inc.                                                     | WesBanco, Inc.,7.375%, due 10/1/2030                                | CUSIP: 950810887<br>LEI: N/A                  | Long             | EP               | CORP              | US        |     20000 | NS      | $501000.00    | 1.01%             |  |  |  | No            |                  1 | On Loan: No      |

### Signature

**Date Signed:** 2026-03-31

**Name of Applicant:** Ancora Trust

**Signature:** /s/ Bradley Zucker

**Name of Signer:** Bradley Zucker

**Title:** President, Treasurer and Secretary