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The reader should not assume that the information is accurate and complete.

UNITED STATES SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM 13F

FORM 13F INFORMATION TABLE

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COLUMN 1 COLUMN 2 COLUMN 3 COLUMN 4 COLUMN 5 COLUMN 6 COLUMN 7 COLUMN 8
VALUE SHRS OR SH/ PUT/ INVESTMENT OTHER VOTING AUTHORITY
NAME OF ISSUER TITLE OF CLASS CUSIP (x$1000) PRN AMT PRN CALL DISCRETION MANAGER SOLE SHARED NONE
WELLS FARGO & CO PERP PFD CNV A 949746804 69,142,288 59,744 SH SOLE 59,518 0 226
INVESCO EXCH TRADED FD TR II PFD ETF 46138E511 13,340,959 1,230,714 SH SOLE 1,215,688 0 15,026
ISHARES TR IBOXX INV CP ETF 464287242 553,074 5,071 SH DFND 1 0 0 5,071