# EDGAR Filing Document

**Accession Number:** 0001260667
**File Stem:** 0001162044-23-000216
**Filing Date:** 2023-2
**Character Count:** 44484
**Document Hash:** b444288d9aa2e03b8aa3ed2da59ac6e1
**Contains OCR:** False
**Source Format:** 

## Filing Content

## Filing Summary
**0001162044-23-000216.hdr.sgml**: 20230221

**ACCESSION NUMBER**: 0001162044-23-000216

**CONFORMED SUBMISSION TYPE**: NPORT-P

**PUBLIC DOCUMENT COUNT**: 1

**CONFORMED PERIOD OF REPORT**: 20221231

**FILED AS OF DATE**: 20230221

**DATE AS OF CHANGE**: 20230221

**PERIOD START**: 20221231

**FILER**: 

**COMPANY DATA:**
- **COMPANY CONFORMED NAME:** ANCORA TRUST
- **CENTRAL INDEX KEY:** 0001260667
- **IRS NUMBER:** 020712385
- **FISCAL YEAR END:** 1231

**FILING VALUES:**
- **FORM TYPE:** NPORT-P
- **SEC ACT:** 1940 Act
- **SEC FILE NUMBER:** 811-21418
- **FILM NUMBER:** 23646450

**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           |

## 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:** 216-348-5400

**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:** 2022-12-31

- **b. Date as of which information is reported:** 2022-12-31

**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:** $33023041.14

**Total Liabilities:** $975799.06

**Net Assets:** $32047242.08

**Cash Not Reported:** $339027.90

**Monthly Return Information**

| Class               | Month 1 Return (%)   | Month 2 Return (%)   | Month 3 Return (%)   |
|:---|:---|:---|:---|
| Class ID C000012949 | -2.49%               | 4.08%                | -2.91%               |

**Monthly Gains & Losses**

| Period   | Net Realized Gain/Loss   | Net Unrealized Appreciation/Depreciation   |
|:---|:---|:---|
| Month 1  | $-260371.25              | $-792748.07                                |
| Month 2  | $-98537.17               | $1345765.05                                |
| Month 3  | $-226857.76              | $-1003500.01                               |

### 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%                                                         | CUSIP: 00123Q872<br>LEI: 5TRACI5HRMELWV32OF39 | Long             | EP               | CORP              | US        |     20000 | NS      | $385600.00    | 1.20%             |  |  |  | No            |                  1 | On Loan: No      |
| AGNC Investment Corp.                        | AGNC Investment Corp., 6.875%, Preferred Series D                                     | CUSIP: 00123Q609<br>LEI: 5TRACI5HRMELWV32OF39 | Long             | EP               | CORP              | US        |     23000 | NS      | $456550.00    | 1.42%             |  |  |  | No            |                  1 | On Loan: No      |
| Affiliated Managers Group, Inc.              | Affiliated Managers Group, Inc., 4.750%, Junior Subordinated Notes                    | CUSIP: 008252843<br>LEI: 2JE75BUE3T1BLCYYGK54 | Long             | EP               | CORP              | US        |      5000 | NS      | $84100.00     | 0.26%             |  |  |  | No            |                  1 | On Loan: No      |
| Affiliated Managers Group, Inc.              | Affiliated Managers Group, Inc., 5.875%, 03/30/2059                                   | CUSIP: 008252850<br>LEI: 2JE75BUE3T1BLCYYGK54 | Long             | EP               | CORP              | US        |      8000 | NS      | $166240.00    | 0.52%             |  |  |  | No            |                  1 | On Loan: No      |
| Alliancebernstein Holding LP                 | AllianceBernstein Holding LP                                                          | CUSIP: 01881G106<br>LEI: N/A                  | Long             | EC               | CORP              | US        |      4200 | NS      | $144354.00    | 0.45%             |  |  |  | No            |                  1 | On Loan: No      |
| Annaly Capital Management, Inc.              | Annaly Capital Management, Inc., 6.950%, Series F, 09/30/2022                         | CUSIP: 035710870<br>LEI: 2DTL0G3FPRYUT58TI025 | Long             | EP               | CORP              | US        |     25000 | NS      | $609500.00    | 1.90%             |  |  |  | No            |                  1 | On Loan: No      |
| Apollo Asset Management, Inc.                | Apollo Global Management, Inc., 6.375%, Non-Cumulative Pfd., Series A, 03/02/2023     | CUSIP: 03769W203<br>LEI: 54930054P2G7ZJB0KM79 | Long             | EP               | CORP              | US        |     25000 | NS      | $546000.00    | 1.70%             |  |  |  | No            |                  1 | On Loan: No      |
| Arbor Realty Trust, Inc.                     | Arbor Realty Trust Inc., 6.375%, 06/02/2026                                           | CUSIP: 038923876<br>LEI: 549300ASFUWYQO0RW077 | Long             | EP               | CORP              | US        |     20000 | NS      | $345200.00    | 1.08%             |  |  |  | No            |                  1 | On Loan: No      |
| Aspen Insurance Holdings Ltd.                | Aspen Insurance Holdings Ltd., 5.625%                                                 | CUSIP: G05384162<br>LEI: 549300YX6HECG9XQCQ75 | Long             | EP               | CORP              | BM        |      8000 | NS      | $144560.00    | 0.45%             |  |  |  | No            |                  1 | On Loan: No      |
| Aspen Insurance Holdings Ltd.                | Aspen Insurance Holdings Ltd., Depositary Shares, 5.625%                              | CUSIP: G05384204<br>LEI: 549300YX6HECG9XQCQ75 | Long             | EP               | CORP              | BM        |      9000 | NS      | $162090.00    | 0.51%             |  |  |  | No            |                  1 | On Loan: No      |
| Assurant, Inc.                               | Assurant, Inc., 5.250%, 01/15/2026                                                    | CUSIP: 04621X306<br>LEI: N/A                  | Long             | EP               | CORP              | US        |       600 | NS      | $12114.00     | 0.04%             |  |  |  | No            |                  1 | On Loan: No      |
| Athene Holding Ltd.                          | Athene Holding Ltd., Depositary Shares, 5.625%, Series B                              | CUSIP: 04686J200<br>LEI: 549300H316CT32FQXI76 | Long             | EP               | CORP              | BM        |      7000 | NS      | $139090.00    | 0.43%             |  |  |  | No            |                  1 | On Loan: No      |
| Atlanticus Holdings Corp.                    | Atlanticus Holdings Corp., 6.125%, Class B, @ 11/30/2023                              | CUSIP: 04914Y300<br>LEI: N/A                  | Long             | EP               | CORP              | US        |     25100 | NS      | $534881.00    | 1.67%             |  |  |  | No            |                  1 | On Loan: No      |
| Axis Capital Holdings Ltd.                   | Axs, 5.500%, 12/31/2049                                                               | CUSIP: 05461T305<br>LEI: N/A                  | Long             | EP               | CORP              | BM        |     20000 | NS      | $392000.00    | 1.22%             |  |  |  | No            |                  1 | On Loan: No      |
| B. Riley Financial, Inc.                     | B. Riley Financial, Inc., 6.375%, Senior Notes                                        | CUSIP: 05580M868<br>LEI: N/A                  | Long             | EP               | CORP              | US        |     14349 | NS      | $326439.75    | 1.02%             |  |  |  | No            |                  1 | On Loan: No      |
| Bank OZK                                     | Bank OZK, 4.625% Perp., 11/15/2026                                                    | CUSIP: 06417N202<br>LEI: 549300VYK2WBD7SST478 | Long             | EP               | CORP              | US        |     15000 | NS      | $236550.00    | 0.74%             |  |  |  | No            |                  1 | On Loan: No      |
| Bank of America Corp.                        | Bank of America Corp., 6.000%, Non-Cumulative Pfd., Series GG, 05/16/2023             | CUSIP: 060505229<br>LEI: 9DJT3UXIJIZJI4WXO774 | Long             | EP               | CORP              | US        |     10000 | NS      | $239200.00    | 0.75%             |  |  |  | No            |                  1 | On Loan: No      |
| Blackstone Private Credit Fund               | Blackstone Private Credit Fund, 7.050%, 09/29/2025 @ 50.00                            | CUSIP: 09261HAY3<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    350000 | PA      | $347516.62    | 1.08%             | 2025-09-29      | Fixed         | 7.05%                 | No            |                  2 | On Loan: No      |
| Brookfield Infrastructure Partners LP        | Brookfield Infrastructure Partners LP, 5.125%, Class A, Series 13                     | CUSIP: G16252267<br>LEI: 549300WEH5R2OODI7Y90 | Long             | EP               | CORP              | BM        |     10000 | NS      | $160499.00    | 0.50%             |  |  |  | No            |                  1 | On Loan: No      |
| Brunswick Corp.                              | Brunswick Corp., 6.500%, Call @ 10/15/2023                                            | CUSIP: 117043406<br>LEI: YM4O38W15AX4YLLQKU27 | Long             | EP               | CORP              | US        |     20000 | NS      | $482000.00    | 1.50%             |  |  |  | No            |                  1 | On Loan: No      |
| Carlyle Finance LLC.                         | Carlyle Finance LLC., 4.625%, 05/15/2061                                              | CUSIP: 14314C105<br>LEI: 529900NGGVF94UK6PG95 | Long             | EP               | CORP              | US        |     25000 | NS      | $404750.00    | 1.26%             |  |  |  | No            |                  1 | On Loan: No      |
| Charles Schwab Corp.                         | Charles Schwab Corp., 5.000%, Perp. Call 06/01/2027                                   | CUSIP: 808513CB9<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    500000 | PA      | $456499.25    | 1.42%             | 2027-06-01      | Variable      | 5.00%                 | No            |                  2 | On Loan: No      |
| Chicken Soup For The Soul Entertainment Inc. | Chicken Soup For The Soul Entertainment, Inc., 9.500%, Non-Cumulative, 07/31/25       | CUSIP: 16842Q308<br>LEI: 549300THRJ0EJ1DIID72 | Long             | EP               | CORP              | US        |     20000 | NS      | $505000.00    | 1.58%             |  |  |  | No            |                  1 | On Loan: No      |
| Citizens Financial Group, Inc.               | Citizens Financial Group, Inc., Depositary Shares, 5.000%, Series E                   | CUSIP: 174610402<br>LEI: 2138004JDDA4ZQUPFW65 | Long             | EP               | CORP              | US        |     12000 | NS      | $231600.00    | 0.72%             |  |  |  | No            |                  1 | On Loan: No      |
| Compass Diversified Holdings                 | Compass Diversified Holdings, 7.875%, Series C                                        | CUSIP: 20451Q401<br>LEI: 5299001SM1LBYANJRR58 | Long             | EP               | CORP              | US        |     17500 | NS      | $399350.00    | 1.25%             |  |  |  | No            |                  1 | On Loan: No      |
| Customers Bancorp, Inc.                      | Customers Bancorp, Inc., 6.450%, 03/15/2023 Perp.                                     | CUSIP: 23204G605<br>LEI: 549300WLBCHYKZ53FN68 | Long             | EP               | CORP              | US        |      4056 | NS      | $102941.28    | 0.32%             |  |  |  | No            |                  1 | On Loan: No      |
| DTE Energy Co.                               | DTE Energy Co., 5.250%, Pfd.                                                          | CUSIP: 233331859<br>LEI: 549300IX8SD6XXD71I78 | Long             | EP               | CORP              | US        |     12500 | NS      | $265000.00    | 0.83%             |  |  |  | No            |                  1 | On Loan: No      |
| Devon Energy Corp.                           | Devon Energy Corp.                                                                    | CUSIP: 25179M103<br>LEI: 54930042348RKR3ZPN35 | Long             | EC               | CORP              | US        |      3000 | NS      | $184530.00    | 0.58%             |  |  |  | No            |                  1 | On Loan: No      |
| Dominion Energy, Inc.                        | Dominion Energy, Inc., 4.650%, 12/15/2024                                             | CUSIP: 25746UDD8<br>LEI: ILUL7B6Z54MRYCF6H308 | Long             | DBT              | CORP              | US        |    300000 | PA      | $262500.00    | 0.82%             | 2024-12-15      | Variable      | 4.65%                 | No            |                  2 | On Loan: No      |
| Eagle Point Credit Co., Inc.                 | Eagle Point Credit Co., Inc., 5.375%, Call @ 01/31/2025                               | CUSIP: 269809885<br>LEI: 549300H82HTZTPXB6822 | Long             | EP               | CORP              | US        |     10702 | NS      | $228380.68    | 0.71%             |  |  |  | No            |                  1 | On Loan: No      |
| Eagle Point Credit Co., Inc.                 | Eagle Point Credit Co., Inc., 6.688%, Notes 04/30/2028                                | CUSIP: 269809505<br>LEI: 549300H82HTZTPXB6822 | Long             | EP               | CORP              | US        |     10156 | NS      | $244607.26    | 0.76%             |  |  |  | No            |                  1 | On Loan: No      |
| Energy Transfer Operating LP                 | Energy Transfer LP, 7.125%, Call 05/15/2030 @ $100                                    | CUSIP: 29273VAM2<br>LEI: MTLVN9N7JE8MIBIJ1H73 | Long             | DBT              | CORP              | US        |    350000 | PA      | $292250.00    | 0.91%             | 2030-05-15      | Variable      | 7.13%                 | No            |                  2 | On Loan: No      |
| Energy Transfer Operating LP                 | Energy Transfer Operating, LP, Series E, 7.600%                                       | CUSIP: 29273V605<br>LEI: MTLVN9N7JE8MIBIJ1H73 | Long             | EP               | CORP              | US        |     20000 | NS      | $437800.00    | 1.37%             |  |  |  | No            |                  1 | On Loan: No      |
| Enterprise Financial Services Corp           | Enterprise Financial Services Corp., 5.000%, Non Cumulative Pfd, Series A, 12/15/2026 | CUSIP: 293712303<br>LEI: 5493001XTU5DLD632129 | Long             | EP               | CORP              | US        |     25000 | NS      | $423750.00    | 1.32%             |  |  |  | No            |                  1 | On Loan: No      |
| Enterprise Products Partners L.P.            | Enterprise Products Partners LP                                                       | CUSIP: 293792107<br>LEI: K4CDIF4M54DJZ6TB4Q48 | Long             | EC               | CORP              | US        |     15000 | NS      | $361800.00    | 1.13%             |  |  |  | No            |                  1 | On Loan: No      |
| Equitable Holdings, Inc.                     | Equitable Holdings, Inc., 5.250%, Depositary Shares                                   | CUSIP: 29452E200<br>LEI: 549300FIBAKMNHPZ4009 | Long             | EP               | CORP              | US        |     14000 | NS      | $263340.00    | 0.82%             |  |  |  | No            |                  1 | On Loan: No      |
| Federal Agricultural Mortgage Corp.          | Federal Agricultural Mortgage Corp., 5.250%,Non Cumulative, Series F, Call 10/17/2025 | CUSIP: 313148843<br>LEI: 549300MS654K78GYF580 | Long             | EP               | CORP              | US        |     16700 | NS      | $318978.35    | 1.00%             |  |  |  | No            |                  1 | On Loan: No      |
| Federal Agricultural Mortgage Corp.          | Federal Agricultural Mortgage Corp., 5.750% 07/17/2025 Perp.                          | CUSIP: 313148850<br>LEI: 549300MS654K78GYF580 | Long             | EP               | CORP              | US        |     15000 | NS      | $323475.00    | 1.01%             |  |  |  | No            |                  1 | On Loan: No      |
| Fifth Third Bancorp                          | Fifth Third Bancorp, 4.90%, Perp., 01/30/2023                                         | CUSIP: 316773CR9<br>LEI: THRNG6BD57P9QWTQLG42 | Long             | DBT              | CORP              | US        |    500000 | PA      | $489568.84    | 1.53%             | 2023-01-30      | Fixed         | 5.38%                 | No            |                  2 | On Loan: No      |
| Fifth Third Bancorp                          | Fifth Third Bancorp, 6.000%, Non-Cumulative Pfd., Series A, 11/25/2022                | CUSIP: 316773886<br>LEI: THRNG6BD57P9QWTQLG42 | Long             | EP               | CORP              | US        |      2455 | NS      | $54967.45     | 0.17%             |  |  |  | No            |                  1 | On Loan: No      |
| First Citizens Bank & Trust Co.              | First Citizens Bancshares, Inc., 5.625%, Non Cumulative, Series C, Call @ 01/04/2027  | CUSIP: 31959X202<br>LEI: N/A                  | Long             | EP               | CORP              | US        |     22500 | NS      | $457875.00    | 1.43%             |  |  |  | No            |                  1 | On Loan: No      |
| Ford Motor Co.                               | Ford Motor Co., 6.50 %, 08/15/2062                                                    | CUSIP: 345370811<br>LEI: N/A                  | Long             | EP               | CORP              | US        |     10000 | NS      | $233500.00    | 0.73%             |  |  |  | No            |                  1 | On Loan: No      |
| Ford Motor Co.                               | Ford Motor Credit Co. LLC, 7.350%, 11/04/2027 call @ 50.00                            | CUSIP: 345397C35<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    250000 | PA      | $256175.00    | 0.80%             | 2027-11-04      | Fixed         | 7.35%                 | No            |                  2 | On Loan: No      |
| Franchise Group, Inc.                        | Franchise Group, Inc.                                                                 | CUSIP: 35180X105<br>LEI: 549300MWCHSL8BSOMV77 | Long             | EC               | CORP              | US        |     14000 | NS      | $333480.00    | 1.04%             |  |  |  | No            |                  1 | On Loan: No      |
| General Electric Company                     | General Electric Co., 8.090%, 03/15/2023                                              | CUSIP: 369604BQ5<br>LEI: 3C7474T6CDKPR9K6YT90 | Long             | DBT              | CORP              | US        |    500000 | PA      | $491221.26    | 1.53%             | 2023-03-15      | Variable      | 8.10%                 | No            |                  2 | On Loan: No      |
| Gladstone Investment Corp.                   | Gladstone Investment Corp., 4.875%                                                    | CUSIP: 376546883<br>LEI: 549300HFFTVIBC98Z362 | Long             | EP               | CORP              | US        |     10000 | NS      | $218000.00    | 0.68%             |  |  |  | No            |                  1 | On Loan: No      |
| Global Net Lease, Inc.                       | Global Net Lease, Inc., 6.875%,  Series B                                             | CUSIP: 379378409<br>LEI: 549300NUYANCT5SU8Z65 | Long             | EP               | CORP              | US        |     25000 | NS      | $486250.00    | 1.52%             |  |  |  | No            |                  1 | On Loan: No      |
| Golar LNG Partners LP                        | Golar LNG Partners LP. 8.750%, 10/31/2022 Perp.                                       | CUSIP: Y2745C110<br>LEI: 213800RHYQNJR5AC9P81 | Long             | EP               | CORP              | MH        |     20000 | NS      | $375000.00    | 1.17%             |  |  |  | No            |                  1 | On Loan: No      |
| Goldman Sachs Group, Inc.                    | Goldman Sachs Group, Inc., 4.125%, Perp. Call 11/10/2026 @ 100.00                     | CUSIP: 38141GYU2<br>LEI: 784F5XWPLTWKTBV3E584 | Long             | DBT              | CORP              | US        |    500000 | PA      | $416201.68    | 1.30%             | 2026-11-10      | Variable      | 4.13%                 | No            |                  2 | On Loan: No      |
| Golub Capital BDC, Inc.                      | Golub Capital BDC, Inc.                                                               | CUSIP: 38173M102<br>LEI: 2549005WE0QLGK9APF78 | Long             | EC               | CORP              | US        |     12500 | NS      | $164500.00    | 0.51%             |  |  |  | No            |                  1 | On Loan: No      |
| Great Ajax Corp.                             | Great Ajax Corp., 7.250%, Convertible Senior Notes, 04/30/2024                        | CUSIP: 38983D409<br>LEI: 5493004ID2QQWNGDYC18 | Long             | EP               | CORP              | US        |     15000 | NS      | $359100.00    | 1.12%             |  |  |  | No            |                  1 | On Loan: No      |
| Green Brick Partners, Inc.                   | Green Brick Partners, Inc., 5.750%, Cumulative Preferred, Series A, Call 12/23/2026   | CUSIP: 392709200<br>LEI: 549300R7SCIV7FQI6T56 | Long             | EP               | CORP              | US        |     22500 | NS      | $437850.00    | 1.37%             |  |  |  | No            |                  1 | On Loan: No      |
| Hudson Pacific Properties, Inc.              | Hudson Pacific Properties, Inc., 4.750%, Cumulative Preferred, Series C, 11/16/2026   | CUSIP: 444097307<br>LEI: N/A                  | Long             | EP               | CORP              | US        |     25000 | NS      | $313250.00    | 0.98%             |  |  |  | No            |                  1 | On Loan: No      |
| Huntington Bancshares, Inc.                  | Huntington Bancshares, 4.500%, 04/15/2026                                             | CUSIP: 446150823<br>LEI: 549300XTVCVV9I7B5T19 | Long             | EP               | CORP              | US        |     10000 | NS      | $169600.00    | 0.53%             |  |  |  | No            |                  1 | On Loan: No      |
| Huntington Bancshares, Inc.                  | Huntington Bancshares, Inc., 5.700%, Non-Cumulative, Series C, 03/02/2023             | CUSIP: 446150781<br>LEI: N/A                  | Long             | EP               | CORP              | US        |      5000 | NS      | $108250.00    | 0.34%             |  |  |  | No            |                  1 | On Loan: No      |
| Iron Mountain, Inc.                          | Iron Mountain, Inc., 5.250%, 07/15/2030                                               | CUSIP: 46284VAJ0<br>LEI: SQL3F6CKNNBM3SQGHX24 | Long             | DBT              | CORP              | US        |    250000 | PA      | $217250.00    | 0.68%             | 2030-07-15      | Fixed         | 5.25%                 | No            |                  2 | On Loan: No      |
| JPMorgan Chase & Co.                         | JPMorgan Chase & Co. 4.550% 06/01/2026 Perp.                                          | CUSIP: 48128B580<br>LEI: 8I5DZWZKVSZI1NUHU748 | Long             | EP               | CORP              | US        |     10000 | NS      | $186100.00    | 0.58%             |  |  |  | No            |                  1 | On Loan: No      |
| KKR Group Financial Co. IX LLC               | KKR Group Financial Co. IX LLC, 4.625%, 04/01/2026                                    | CUSIP: 48253M104<br>LEI: N/A                  | Long             | EP               | CORP              | US        |      5000 | NS      | $83750.00     | 0.26%             |  |  |  | No            |                  1 | On Loan: No      |
| KeyCorp                                      | KeyCorp, 5.650%, Non-Cumulative, Series F, Call@ 12/15/2023                           | CUSIP: 493267876<br>LEI: N/A                  | Long             | EP               | CORP              | US        |     20000 | NS      | $415600.00    | 1.30%             |  |  |  | No            |                  1 | On Loan: No      |
| KeyCorp                                      | KeyCorp, 6.200%, Non-Cumulative, 12/15/2027                                           | CUSIP: 493267843<br>LEI: N/A                  | Long             | EP               | CORP              | US        |     20000 | NS      | $490600.00    | 1.53%             |  |  |  | No            |                  1 | On Loan: No      |
| Lincoln National Corporation                 | Lincoln National Corp., 9.000%, Non-Cumulative, Series D, 12/0120/27                  | CUSIP: 534187885<br>LEI: EFQMQROEDSNBRIP7LE47 | Long             | EP               | CORP              | US        |      5000 | NS      | $136350.00    | 0.43%             |  |  |  | No            |                  1 | On Loan: No      |
| Lincoln National Corporation                 | Lincoln National Corp., 9.250%, Call 12/01/2027 @ $100                                | CUSIP: 534187BR9<br>LEI: EFQMQROEDSNBRIP7LE47 | Long             | DBT              | CORP              | US        |    350000 | PA      | $368661.92    | 1.15%             | 2027-12-01      | Variable      | 9.25%                 | No            |                  2 | On Loan: No      |
| MainStreet Bancshares, Inc.                  | MainStreet Bancshares, Inc., 7.500%, Depositary Shares                                | CUSIP: 56064Y308<br>LEI: 549300FHZZP7SP56TS88 | Long             | EP               | CORP              | US        |      6500 | NS      | $165750.00    | 0.52%             |  |  |  | No            |                  1 | On Loan: No      |
| Morgan Stanley                               | Morgan Stanley, 4.250%, Preferred                                                     | CUSIP: 61762V861<br>LEI: IGJSJL3JD5P30I6NJZ34 | Long             | EP               | CORP              | US        |     10000 | NS      | $171800.00    | 0.54%             |  |  |  | No            |                  1 | On Loan: No      |
| OFS Credit Co, Inc.                          | OFS Credit Company, 6.125%, 04/30/2023                                                | CUSIP: 67111Q305<br>LEI: 549300T3DWVI18ZWUJ64 | Long             | EP               | CORP              | US        |     20920 | NS      | $476976.00    | 1.49%             |  |  |  | No            |                  1 | On Loan: No      |
| Oaktree Capital Group, LLC                   | Oaktree Capital Group, LLC, 6.550%, Series B, Preferred Units                         | CUSIP: 674001409<br>LEI: 254900T1ODNFOK2L6090 | Long             | EP               | CORP              | CA        |     11000 | NS      | $235070.00    | 0.73%             |  |  |  | No            |                  1 | On Loan: No      |
| Oxford Lane Capital Corp.                    | Oxford Lane Capital Corp., 6.250%, Series 2027, Term Preferred Shares                 | CUSIP: 691543607<br>LEI: 549300G3KO4JNQQD7Z72 | Long             | EP               | CORP              | US        |     25000 | NS      | $567000.00    | 1.77%             |  |  |  | No            |                  1 | On Loan: No      |
| Oxford Square Capital Corp.                  | Oxford Square Capital Corp., 6.250%, Notes 2026                                       | CUSIP: 69181V305<br>LEI: 549300EGQH8WWU1U6Q06 | Long             | EP               | CORP              | US        |     20000 | NS      | $475000.00    | 1.48%             |  |  |  | No            |                  1 | On Loan: No      |
| The PNC Financial Services Group, Inc.       | PNC Financial Services Group, Inc., 6.200%, 09/15/2027                                | CUSIP: 693475BF1<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    350000 | PA      | $342037.50    | 1.07%             | 2027-09-15      | Variable      | 6.20%                 | No            |                  2 | On Loan: No      |
| Pacwest Bancorp                              | PacWest Bancorp, 7.750%, Non-Cumulative Pfd., Series A, 09/01/2027                    | CUSIP: 695263202<br>LEI: 549300YI8VMFO7G36V04 | Long             | EP               | CORP              | US        |     15000 | NS      | $375000.00    | 1.17%             |  |  |  | No            |                  1 | On Loan: No      |
| Pebblebrook Hotel Trust                      | Pebblebrook Hotel Trust, 6.300%, Cumulative Preferred, Series F, 12/10/2021           | CUSIP: 70509V704<br>LEI: 5493004Q1NNH6JXCSI52 | Long             | EP               | CORP              | US        |     22500 | NS      | $400500.00    | 1.25%             |  |  |  | No            |                  1 | On Loan: No      |
| PennyMac Mortgage Investment Trust           | PennyMac Mortgage Investment Trust                                                    | CUSIP: 70931T509<br>LEI: 549300BSSOQO1ZWDUJ97 | Long             | EP               | CORP              | US        |     23000 | NS      | $394450.00    | 1.23%             |  |  |  | No            |                  1 | On Loan: No      |
| Priority Income Fund, Inc.                   | Priority Income Fund, Inc., 6.000%, Cumulative Preferred, Series H, Call 05/06/2023   | CUSIP: 74274W798<br>LEI: 54930032W6I1Y4B2HD64 | Long             | EP               | CORP              | US        |      6825 | NS      | $151037.25    | 0.47%             |  |  |  | No            |                  1 | On Loan: No      |
| Priority Income Fund, Inc.                   | Priority Income Fund, Inc., 6.125%, 06/30/2028                                        | CUSIP: 74274W780<br>LEI: 54930032W6I1Y4B2HD64 | Long             | EP               | CORP              | US        |     20000 | NS      | $426124.00    | 1.33%             |  |  |  | No            |                  1 | On Loan: No      |
| Prospect Capital Corp.                       | Prospect Capital Corp., 5.350%, Cumulative Preferred, Series A, Call @ 07/01/2026     | CUSIP: 74348T565<br>LEI: 549300FSD8T39P5Q0O47 | Long             | EP               | CORP              | US        |     15000 | NS      | $224250.00    | 0.70%             |  |  |  | No            |                  1 | On Loan: No      |
| Prudential Financial, Inc.                   | Prudential Financial, Inc., 5.950%, 09/01/2062                                        | CUSIP: 744320870<br>LEI: N/A                  | Long             | EP               | CORP              | US        |     10000 | NS      | $242200.00    | 0.76%             |  |  |  | No            |                  1 | On Loan: No      |
| QVC, Inc.                                    | QVC, Inc. 6.250% Senior Secured                                                       | CUSIP: 747262400<br>LEI: 549300WBLU5NKPX5X472 | Long             | EP               | CORP              | US        |      5500 | NS      | $65835.00     | 0.21%             |  |  |  | No            |                  1 | On Loan: No      |
| QVC, Inc.                                    | QVC, Inc. 6.375% Senior Secured                                                       | CUSIP: 747262301<br>LEI: 549300WBLU5NKPX5X472 | Long             | EP               | CORP              | US        |      8000 | NS      | $94320.00     | 0.29%             |  |  |  | No            |                  1 | On Loan: No      |
| Raymond James Financial, Inc.                | Raymond James Financial, Inc., 6.375%, Non-Cumulative Pfd., Series B, 07/01/2024      | CUSIP: 754730406<br>LEI: RGUZHJ05YTITL6D76949 | Long             | EP               | CORP              | US        |     11118 | NS      | $276838.20    | 0.86%             |  |  |  | No            |                  1 | On Loan: No      |
| Ready Capital Corp.                          | Rc 7.000%                                                                             | CUSIP: 75574U200<br>LEI: 549300MYWGZUG7ZUYO87 | Long             | EP               | CORP              | US        |     15000 | NS      | $375600.00    | 1.17%             |  |  |  | No            |                  1 | On Loan: No      |
| Ready Capital Corp.                          | Ready Capital Corp., 6.500%, 06/30/2026 Perp.                                         | CUSIP: 75574U887<br>LEI: 549300MYWGZUG7ZUYO87 | Long             | EP               | CORP              | US        |     23000 | NS      | $414345.00    | 1.29%             |  |  |  | No            |                  1 | On Loan: No      |
| Regions Financial Corp.                      | Regions Financial Corp., 5.700%, Series C                                             | CUSIP: 7591EP704<br>LEI: CW05CS5KW59QTC0DG824 | Long             | EP               | CORP              | US        |      8000 | NS      | $182240.00    | 0.57%             |  |  |  | No            |                  1 | On Loan: No      |
| Raymond James Financial, Inc.                | Reinsurance Group of America, Inc., 7.125%, 10/15/2027                                | CUSIP: 759351885<br>LEI: N/A                  | Long             | EP               | CORP              | US        |     10000 | NS      | $259500.00    | 0.81%             |  |  |  | No            |                  1 | On Loan: No      |
| New Residential Investment Corp.             | Rithm Capital Corp., 7.125%, Series B                                                 | CUSIP: 64828T409<br>LEI: 549300WNTHGEO5LP2G31 | Long             | EP               | CORP              | US        |     23000 | NS      | $442290.00    | 1.38%             |  |  |  | No            |                  1 | On Loan: No      |
| RiverNorth Opportunities Fund, Inc.          | RiverNorth Opportunities Fund, Inc.                                                   | CUSIP: 76881Y208<br>LEI: 5493001RICR00U8TM159 | Long             | EC               | CORP              | US        |     20000 | NS      | $451000.00    | 1.41%             |  |  |  | No            |                  1 | On Loan: No      |
| Scorpio Tankers, Inc.                        | Scorpio Tankers, Inc., 7.000%, Senior Notes 2025                                      | CUSIP: 80918T208<br>LEI: 549300NVJUH16NXG8K87 | Long             | EP               | CORP              | MH        |     23000 | NS      | $567341.00    | 1.77%             |  |  |  | No            |                  1 | On Loan: No      |
| Signature Bank                               | Signature Bank Depositary Shares, 5.000%, Series A, 12/30/2025                        | CUSIP: 82669G203<br>LEI: VLP5AP0XK2GM6GKD1007 | Long             | EP               | CORP              | US        |     30000 | NS      | $461100.00    | 1.44%             |  |  |  | No            |                  1 | On Loan: No      |
| Special Opportunities Fund, Inc              | Special Opportunities Fund, Inc.                                                      | CUSIP: 84741T104<br>LEI: 549300DGAJTGM6R4HK03 | Long             | EC               | CORP              | US        |     11031 | NS      | $125753.40    | 0.39%             |  |  |  | No            |                  1 | On Loan: No      |
| Steel Partners Holdings L.P.                 | Steel Partners Holding LP., 6.000%, Preferred, 02/07/2026                             | CUSIP: 85814R206<br>LEI: 5493009U8Z59G5SIZ389 | Long             | EP               | CORP              | US        |     20000 | NS      | $459400.00    | 1.43%             |  |  |  | No            |                  1 | On Loan: No      |
| Stifel Financial Corp.                       | Stifel Financial Corp, 5.200%, Call @ 10/15/2022                                      | CUSIP: 860630607<br>LEI: 549300E5F07FE5GHJX84 | Long             | EP               | CORP              | US        |     15000 | NS      | $302550.00    | 0.94%             |  |  |  | No            |                  1 | On Loan: No      |
| Stifel Financial Corp.                       | Stifel Financial Corp., 6.250%, Non-Cumulative Pfd., Series B, 03/15/2024             | CUSIP: 860630706<br>LEI: N/A                  | Long             | EP               | CORP              | US        |     15000 | NS      | $345000.00    | 1.08%             |  |  |  | No            |                  1 | On Loan: No      |
| Summit Hotel Properties, Inc.                | Summit Hotel Properties, Inc., 6.250%, Cumulative Pfd., Series E, Call 11/13/2022     | CUSIP: 866082605<br>LEI: 254900OBQWJK6X20LS71 | Long             | EP               | CORP              | US        |     20000 | NS      | $365600.00    | 1.14%             |  |  |  | No            |                  1 | On Loan: No      |
| The Allstate Corp.                           | The Allstate Corp, 5.750%, 8/15/2053                                                  | CUSIP: 020002BB6<br>LEI: OBT0W1ED8G0NWVOLOJ77 | Long             | DBT              | CORP              | US        |    350000 | PA      | $329000.00    | 1.03%             | 2050-12-31      | Variable      | 5.75%                 | No            |                  2 | On Loan: No      |
| The Allstate Corp.                           | The Allstate Corp., 5.625%, Non-Cumulative, Series G, 04/15/2023                      | CUSIP: 020002127<br>LEI: N/A                  | Long             | EP               | CORP              | US        |     10000 | NS      | $217300.00    | 0.68%             |  |  |  | No            |                  1 | On Loan: No      |
| The Bank of Nova Scotia                      | The Bank of Nova Scotia, 8.625%, Call 10/27/2027 @ 100.00                             | CUSIP: 0641598S8<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    500000 | PA      | $520580.97    | 1.62%             | 2050-12-31      | Variable      | 8.63%                 | No            |                  2 | On Loan: No      |
| The Southern Company                         | The Southern Co. Series 2020A, 4.950%, Junior Subordinated Notes due 01/30/2080       | CUSIP: 842587800<br>LEI: 549300FC3G3YU2FBZD92 | Long             | EP               | CORP              | US        |      6500 | NS      | $127660.00    | 0.40%             |  |  |  | No            |                  1 | On Loan: No      |
| The Toronto Dominion Bank                    | The Toronto Dominion Bank, 8.125%, 10/31/2027                                         | CUSIP: 89117F8Z5<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    500000 | PA      | $520000.00    | 1.62%             | 2050-12-31      | Variable      | 8.13%                 | No            |                  2 | On Loan: No      |
| Triton International Ltd.                    | Triton International Limited of Bermuda, 7.375%, Cumulative Pfd., Call 12/15/2024     | CUSIP: G9078F149<br>LEI: N/A                  | Long             | EP               | CORP              | BM        |      1596 | NS      | $36708.00     | 0.11%             |  |  |  | No            |                  1 | On Loan: No      |
| Triton International Ltd.                    | Triton International Ltd., 5.750%                                                     | CUSIP: G9078F156<br>LEI: N/A                  | Long             | EP               | CORP              | BM        |     20000 | NS      | $364200.00    | 1.14%             |  |  |  | No            |                  1 | On Loan: No      |
| Truist Financial Corp.                       | Truist Financial Corp., Depositary Shares, 4.750%, Series R                           | CUSIP: 89832Q695<br>LEI: N/A                  | Long             | EP               | CORP              | US        |      8000 | NS      | $152720.00    | 0.48%             |  |  |  | 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      | $400500.00    | 1.25%             |  |  |  | No            |                  1 | On Loan: No      |
| USB Capital IX                               | USB, Float, 5.099%, Perp., 01/15/2023                                                 | CUSIP: 91731KAA8<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    250000 | PA      | $196874.91    | 0.61%             | 2023-01-15      | Fixed         | 5.10%                 | No            |                  2 | On Loan: No      |
| Wells Fargo & Co.                            | Wells Fargo & Co., 4.375%, 03/15/2026                                                 | CUSIP: 95002Y202<br>LEI: PBLD0EJDB5FWOLXP3B76 | Long             | EP               | CORP              | US        |     20000 | NS      | $340600.00    | 1.06%             |  |  |  | No            |                  1 | On Loan: No      |
| WesBanco, Inc.                               | WesBanco, Inc., Depositary Shares, 6.750%, Series A                                   | CUSIP: 950810705<br>LEI: N/A                  | Long             | EC               | CORP              | US        |      8000 | NS      | $200960.00    | 0.63%             |  |  |  | No            |                  1 | On Loan: No      |
| Western Alliance BanCorp.                    | Western Alliance BanCorp., Series A, 4,250%, 09/30/2026 Perp.                         | CUSIP: 957638406<br>LEI: N/A                  | Long             | EP               | CORP              | US        |     14844 | NS      | $299255.04    | 0.93%             |  |  |  | No            |                  1 | On Loan: No      |
| Zions Bancorporation, N.A.                   | Zion Bancorporation, N.A., 6.950%, Call@ 09/15/2023                                   | CUSIP: 989701818<br>LEI: 8WH0EE09O9V05QJZ3V89 | Long             | EP               | CORP              | US        |      1793 | NS      | $45699.98     | 0.14%             |  |  |  | No            |                  1 | On Loan: No      |

### Signature

**Date Signed:** 2022-12-30

**Name of Applicant:** Ancora Trust

**Signature:** /s/ Bradley Zucker

**Name of Signer:** Bradley Zucker

**Title:** President, Treasurer and Secretary