# EDGAR Filing Document

**Accession Number:** 0001260667
**File Stem:** 0001162044-26-000211
**Filing Date:** 2026-3
**Character Count:** 39306
**Document Hash:** 37df43ab5b93dd206f3c93a5f52021fe
**Contains OCR:** False
**Source Format:** 

## Filing Content

## Filing Summary
**0001162044-26-000211.hdr.sgml**: 20260302

**ACCESSION NUMBER**: 0001162044-26-000211

**CONFORMED SUBMISSION TYPE**: NPORT-P

**PUBLIC DOCUMENT COUNT**: 1

**CONFORMED PERIOD OF REPORT**: 20251231

**FILED AS OF DATE**: 20260302

**DATE AS OF CHANGE**: 20260302

**PERIOD START**: 20251231

**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:** 26706768

**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:** 216-593-5020

**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:** 2025-12-31

- **b. Date as of which information is reported:** 2025-12-31

**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:** $50173938.60

**Total Liabilities:** $222301.44

**Net Assets:** $49951637.16

**Monthly Return Information**

| Class               | Month 1 Return (%)   | Month 2 Return (%)   | Month 3 Return (%)   |
|:---|:---|:---|:---|
| Class ID C000012949 | -0.21%               | -0.48%               | 0.07%                |

**Monthly Gains & Losses**

| Period   | Net Realized Gain/Loss   | Net Unrealized Appreciation/Depreciation   |
|:---|:---|:---|
| Month 1  | $-5220.72                | $-265458.20                                |
| Month 2  | $63343.34                | $-400077.83                                |
| Month 3  | $-331238.52              | $-145305.09                                |

### 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      | $490800.00    | 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      | $563730.00    | 1.13%             |  |  |  | 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      | $110510.30    | 0.22%             |  |  |  | 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      | $631800.00    | 1.27%             |  |  |  | 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      | $424000.00    | 0.85%             |  |  |  | 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      | $174593.10    | 0.35%             |  |  |  | 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      | $422750.00    | 0.85%             |  |  |  | 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      | $284850.00    | 0.57%             |  |  |  | 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      | $414600.00    | 0.83%             |  |  |  | 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      | $383550.00    | 0.77%             |  |  |  | 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      | $526800.00    | 1.06%             |  |  |  | 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      | $596750.00    | 1.20%             |  |  |  | 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        |     10650 | NS      | $177855.00    | 0.36%             |  |  |  | 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        |      4779 | NS      | $96870.33     | 0.19%             |  |  |  | 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      | $352800.00    | 0.71%             |  |  |  | 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      | $791800.52    | 1.59%             |  |  |  | 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      | $572756.71    | 1.15%             |  |  |  | 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      | $720650.00    | 1.44%             |  |  |  | No            |                  1 | On Loan: No      |
| Assurant, Inc.                                                     | Assurant, Inc., 5.250%, 01/15/2026                                 | CUSIP: 04621X306<br>LEI: N/A                  | Long             | EP               | CORP              | US        |     30000 | NS      | $583500.00    | 1.17%             |  |  |  | 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      | $255450.00    | 0.51%             |  |  |  | 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      | $808824.00    | 1.62%             |  |  |  | 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      | $492000.00    | 0.99%             |  |  |  | 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      | $108511.74    | 0.22%             |  |  |  | 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      | $744975.00    | 1.49%             |  |  |  | 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      | $568575.00    | 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      | $240213.00    | 0.48%             |  |  |  | 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        |     25000 | NS      | $498500.00    | 1.00%             |  |  |  | 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      | $660800.00    | 1.32%             |  |  |  | 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      | $1062304.48   | 2.13%             |  |  |  | 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      | $167500.00    | 0.34%             |  |  |  | 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      | $227150.00    | 0.46%             |  |  |  | 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      | $354731.30    | 0.71%             |  |  |  | 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      | $1026000.00   | 2.06%             |  |  |  | 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      | $243256.53    | 0.49%             | 2029-08-15      | Variable      | 7.13%                 | No            |                  2 | 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      | $790921.94    | 1.58%             | 2028-11-15      | Variable      | 7.63%                 | No            |                  2 | On Loan: No      |
| Comerica, Inc.                                                     | Comerica, Inc., 6.875%, due 10/01/2030                             | CUSIP: 200340701<br>LEI: N/A                  | Long             | EP               | CORP              | US        |     30850 | NS      | $805185.00    | 1.61%             |  |  |  | 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        |     15000 | NS      | $348750.00    | 0.70%             |  |  |  | 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      | $257209.16    | 0.52%             | 2030-12-01      | Variable      | 6.88%                 | No            |                  2 | 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      | $257612.75    | 0.52%             | 2050-12-31      | Variable      | 6.63%                 | No            |                  2 | 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      | $358478.75    | 0.72%             | 2030-05-15      | Variable      | 7.13%                 | No            |                  2 | On Loan: No      |
| Energy Transfer LP.                                                | Energy Transfer LP.                                                | CUSIP: 29273V100<br>LEI: MTLVN9N7JE8MIBIJ1H73 | Long             | EC               | CORP              | US        |     20000 | NS      | $329800.00    | 0.66%             |  |  |  | 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      | $484275.00    | 0.97%             |  |  |  | No            |                  1 | On Loan: No      |
| Enterprise Products Partners LP                                    | Enterprise Products Partners LP                                    | CUSIP: 293792107<br>LEI: K4CDIF4M54DJZ6TB4Q48 | Long             | EC               | CORP              | US        |     13000 | NS      | $416780.00    | 0.83%             |  |  |  | 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      | $885200.00    | 1.77%             |  |  |  | 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      | $812316.00    | 1.63%             |  |  |  | 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      | $529250.00    | 1.06%             |  |  |  | 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        |   3357207 | NS      | $3357206.51   | 6.73%             |  |  |  | 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      | $855455.73    | 1.71%             | 2050-12-31      | Fixed         | 7.99%                 | No            |                  2 | 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      | $370825.00    | 0.74%             |  |  |  | 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      | $575000.00    | 1.15%             |  |  |  | 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      | $586250.00    | 1.17%             |  |  |  | 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      | $532125.00    | 1.07%             |  |  |  | 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      | $445594.50    | 0.89%             |  |  |  | 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      | $599610.00    | 1.20%             |  |  |  | No            |                  1 | On Loan: No      |
| KKR & Co., Inc.                                                    | KKR & Co., Inc., 6.250%, Due 3/01/2025                             | CUSIP: 48251W500<br>LEI: N/A                  | Long             | EP               | CORP              | US        |      7500 | NS      | $388800.00    | 0.78%             |  |  |  | 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      | $424400.00    | 0.85%             |  |  |  | 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      | $634500.00    | 1.27%             |  |  |  | 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      | $394600.00    | 0.79%             |  |  |  | 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      | $252000.00    | 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      | $1136500.00   | 2.28%             |  |  |  | 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      | $419600.00    | 0.84%             |  |  |  | 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      | $983.19       | 0.00%             |  |  |  | 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      | $476250.00    | 0.95%             |  |  |  | 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      | $424810.00    | 0.85%             |  |  |  | No            |                  1 | On Loan: No      |
| Pfizer, Inc.                                                       | Pfizer, Inc.                                                       | CUSIP: 717081103<br>LEI: 765LHXWGK1KXCLTFYQ30 | Long             | EC               | CORP              | US        |     25000 | NS      | $622500.00    | 1.25%             |  |  |  | No            |                  1 | On Loan: No      |
| Redwood Trust, Inc.                                                | Redwood Trust, Inc., 10.00%, Cumulative Perp Call 04/15/28@25.00   | CUSIP: 758075808<br>LEI: N/A                  | Long             | EP               | CORP              | US        |     30000 | NS      | $734346.00    | 1.47%             |  |  |  | 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      | $624747.50    | 1.25%             |  |  |  | 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      | $247000.00    | 0.49%             |  |  |  | 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      | $508200.00    | 1.02%             |  |  |  | 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      | $254400.00    | 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      | $473400.00    | 0.95%             |  |  |  | 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      | $414762.12    | 0.83%             |  |  |  | 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      | $369450.00    | 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      | $1021600.00   | 2.05%             |  |  |  | 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      | $449887.50    | 0.90%             |  |  |  | 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      | $513000.00    | 1.03%             |  |  |  | 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      | $362000.00    | 0.73%             |  |  |  | No            |                  1 | On Loan: No      |
| Synchrony Financial                                                | Synchrony Financial, 5.625%, due 12/31/2099                        | CUSIP: 87165B202<br>LEI: 549300RS7EWPM9MA6C78 | Long             | EP               | CORP              | US        |     65000 | NS      | $1273350.00   | 2.55%             |  |  |  | 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      | $591525.00    | 1.18%             |  |  |  | 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        |     20000 | NS      | $497000.00    | 1.00%             |  |  |  | No            |                  1 | On Loan: No      |
| Target Corp.                                                       | Target Corp.                                                       | CUSIP: 87612E106<br>LEI: 8WDDFXB5T1Z6J0XC1L66 | Long             | EC               | CORP              | US        |     10500 | NS      | $1026375.00   | 2.06%             |  |  |  | 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        |     60000 | NS      | $1204800.00   | 2.41%             |  |  |  | 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      | $350072.80    | 0.70%             | 2050-12-31      | Variable      | 8.51%                 | No            |                  2 | 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      | $531025.03    | 1.06%             | 2050-12-31      | Variable      | 8.63%                 | No            |                  2 | On Loan: No      |
| The Goldman Sachs Group, Inc.                                      | The Goldman Sachs Group, Inc., 7.500%, due 02/10/2029              | CUSIP: 38141GA38<br>LEI: 784F5XWPLTWKTBV3E584 | Long             | DBT              | CORP              | US        |    500000 | PA      | $531041.78    | 1.06%             | 2029-02-10      | Variable      | 7.50%                 | No            |                  2 | 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      | $526574.00    | 1.05%             | 2050-12-31      | Variable      | 8.13%                 | No            |                  2 | On Loan: No      |
| UMH Properties, Inc.                                               | UMH Properties, Inc., 6.375%, Series D                             | CUSIP: 903002509<br>LEI: 529900OM5K3PJ11F0Q09 | Long             | EP               | CORP              | US        |     18000 | NS      | $392760.00    | 0.79%             |  |  |  | No            |                  1 | On Loan: No      |
| USB Capital IX                                                     | USB Float, 5.93751%, due 12/31/2099                                | CUSIP: 91731KAA8<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    250000 | PA      | $194743.83    | 0.39%             | 2050-12-31      | Fixed         | 5.94%                 | No            |                  2 | On Loan: No      |
| United Parcel Service, Inc.                                        | United Parcel Service, Inc.                                        | CUSIP: 911312106<br>LEI: D01LMJZU09ULLNCY6Z23 | Long             | EC               | CORP              | US        |      8000 | NS      | $793520.00    | 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      | $668500.00    | 1.34%             |  |  |  | No            |                  1 | On Loan: No      |
| Wells Fargo & Co.                                                  | Wells Fargo & Co., 6.850%, due 09/15/2029                          | CUSIP: 95002YAC7<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    250000 | PA      | $261256.50    | 0.52%             | 2029-09-15      | Variable      | 6.85%                 | No            |                  2 | 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      | $515800.00    | 1.03%             |  |  |  | No            |                  1 | On Loan: No      |

### Signature

**Date Signed:** 2025-12-31

**Name of Applicant:** Ancora Trust

**Signature:** /s/ Bradley Zucker

**Name of Signer:** Bradley Zucker

**Title:** President, Treasurer and Secretary