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        <isRestrictedSec>N</isRestrictedSec>
        
        <fairValLevel>1</fairValLevel>
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        <name>SYNCHRONY FINANCIAL</name>
        <lei>549300RS7EWPM9MA6C78</lei>
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        <cusip>87165B202</cusip>
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        <valUSD>37004364.72000000</valUSD>
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        <assetCat>EP</assetCat>
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        <fairValLevel>1</fairValLevel>
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        <name>ALLSTATE CORP (THE)</name>
        <lei>OBT0W1ED8G0NWVOLOJ77</lei>
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        <cusip>020002788</cusip>
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        <fairValLevel>1</fairValLevel>
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        <name>CHS INC</name>
        <lei>XEIEFTLYDQ1MZ6TZV015</lei>
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        <cusip>12542R209</cusip>
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        <fairValLevel>1</fairValLevel>
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        <name>BIP BERMUDA HOLDINGS I LTD</name>
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        <cusip>05554M100</cusip>
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          <ticker value="BIPI"/>
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        <valUSD>12748643.60000000</valUSD>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>EP</assetCat>
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        <invCountry>BM</invCountry>
        
        <isRestrictedSec>N</isRestrictedSec>
        
        <fairValLevel>1</fairValLevel>
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        <name>ALBEMARLE CORP</name>
        <lei>HDBLS2Q6GV1LSKQPBS54</lei>
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        <cusip>012653200</cusip>
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        <curCd>USD</curCd>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>EP</assetCat>
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        <fairValLevel>1</fairValLevel>
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        <name>KEYCORP</name>
        <lei>RKPI3RZGV1V1FJTH5T61</lei>
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        <cusip>493267843</cusip>
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          <isin value="US4932678430"/>
          <ticker value="KEY L"/>
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        <curCd>USD</curCd>
        <valUSD>39708844.50000000</valUSD>
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        <assetCat>EP</assetCat>
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        <fairValLevel>1</fairValLevel>
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        <name>T-MOBILE USA INC</name>
        <lei>549300V2JRLO5DIFGE82</lei>
        <title>T-MOBILE USA INC 5.500% SENIOR NOTES ISSUED DUE ON MARCH 1, 2070</title>
        <cusip>87264A204</cusip>
        <identifiers>
          <isin value="US87264A2042"/>
          <ticker value="TMUSZ"/>
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        <curCd>USD</curCd>
        <valUSD>21688475.98000000</valUSD>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>EP</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>
        
        <fairValLevel>1</fairValLevel>
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        <name>SARATOGA INVESTMENT CORP</name>
        <lei>N/A</lei>
        <title>SARATOGA INVESTMENT CORP 7.50% NOTES DUE FEBRUARY 6, 2031</title>
        <cusip>80349A851</cusip>
        <identifiers>
          <isin value="US80349A8514"/>
          <ticker value="SAV"/>
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        <curCd>USD</curCd>
        <valUSD>6443147.50000000</valUSD>
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        <assetCat>EP</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>
        
        <fairValLevel>1</fairValLevel>
        <securityLending>
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      <invstOrSec>
        <name>SOUTHERN COMPANY (THE)</name>
        <lei>549300FC3G3YU2FBZD92</lei>
        <title>SOUTHERN COMPANY (THE) SERIES 2017B 5.25% JUNIOR SUBORDINATED NOTES DUE DECEMBER 1, 2077</title>
        <cusip>842587404</cusip>
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          <isin value="US8425874042"/>
          <ticker value="SOJC"/>
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        <curCd>USD</curCd>
        <valUSD>24227901.18000000</valUSD>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>EP</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>
        
        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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        <name>BROOKFIELD INFRASTRUCTURE FINANCE ULC</name>
        <lei>984500CDDWC47U7DBA74</lei>
        <title>BROOKFIELD INFRASTRUCTURE FINANCE ULC 7.25% SUBORDINATED NOTES DUE MAY 31, 2084</title>
        <cusip>11276B208</cusip>
        <identifiers>
          <isin value="US11276B2088"/>
          <ticker value="BIPJ"/>
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        <curCd>USD</curCd>
        <valUSD>10523050.00000000</valUSD>
        <pctVal>0.080349057458</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EP</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>CA</invCountry>
        <isRestrictedSec>N</isRestrictedSec>
        
        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
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        <name>TENNESSEE VALLEY AUTHORITY (TN)</name>
        <lei>549300HE1ISW43LNKM54</lei>
        <title>TENNESSEE VALLEY AUTHORITY (TN) POWER BONDS 1999 SERIES A DUE MAY 1, 2029 PUTABLE AUTOMATIC RATE RESET SECURITIES</title>
        <cusip>880591409</cusip>
        <identifiers>
          <isin value="US8805914095"/>
          <ticker value="TVE"/>
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        <balance>549378.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>12970814.58000000</valUSD>
        <pctVal>0.099039035828</pctVal>
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        <assetCat>EP</assetCat>
        <issuerCat>USGA</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>
        
        <fairValLevel>1</fairValLevel>
        <securityLending>
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        <name>DTE ENERGY COMPANY</name>
        <lei>549300IX8SD6XXD71I78</lei>
        <title>DTE ENERGY COMPANY 6.250% JUNIOR SUBORDINATED DEBENTURES DUE ON OCTOBER 1, 2085</title>
        <cusip>233331792</cusip>
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          <isin value="US2333317921"/>
          <ticker value="DTK"/>
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        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>37848848.40000000</valUSD>
        <pctVal>0.288995994016</pctVal>
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        <assetCat>EP</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>
        
        <fairValLevel>1</fairValLevel>
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      <invstOrSec>
        <name>PENNYMAC MORTGAGE INVESTMENT TRUST</name>
        <lei>549300BSSOQO1ZWDUJ97</lei>
        <title>PENNYMAC MORTGAGE INVESTMENT TRUST 6.75% SERIES C CUMULATIVE REDEEMABLE PREFERRED SHARES OF BENEFICIAL INTEREST</title>
        <cusip>70931T509</cusip>
        <identifiers>
          <isin value="US70931T5092"/>
          <ticker value="PMT C"/>
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        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>11706926.34000000</valUSD>
        <pctVal>0.089388580036</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EP</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>
        
        <fairValLevel>1</fairValLevel>
        <securityLending>
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          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>KEYCORP</name>
        <lei>RKPI3RZGV1V1FJTH5T61</lei>
        <title>KEYCORP DEPOSITARY SHARES EACH REPRESENTING A 1/40TH OWNERSHIP INTEREST IN A SHARE OF FIXED-TO-FLOATING RATE PERPETUAL NON-CUMULATIVE PREFERRED STOCK,</title>
        <cusip>493267702</cusip>
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          <isin value="US4932677028"/>
          <ticker value="KEY I"/>
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        <balance>1332092.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>33142448.96000000</valUSD>
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        <assetCat>EP</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>
        
        <fairValLevel>1</fairValLevel>
        <securityLending>
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          <isNonCashCollateral>N</isNonCashCollateral>
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        <name>GRANITE POINT MORTGAGE TRUST INC</name>
        <lei>529900VX2HQZ76AYIE02</lei>
        <title>GRANITE POINT MORTGAGE TRUST INC 7.00% SERIES A FIXED-TO-FLOATING RATE CUMULATIVE REDEEMABLE PREFERRED STOCK</title>
        <cusip>38741L305</cusip>
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          <isin value="US38741L3050"/>
          <ticker value="GPMT A"/>
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        <balance>548118.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>9548215.56000000</valUSD>
        <pctVal>0.072905680449</pctVal>
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        <assetCat>EP</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>
        
        <fairValLevel>1</fairValLevel>
        <securityLending>
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        <name>REGENCY CENTERS CORP</name>
        <lei>529900053A7X7FJ97S58</lei>
        <title>REGENCY CENTERS CORP CUM RED PFD SER B 5.875%</title>
        <cusip>758849871</cusip>
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          <isin value="US7588498714"/>
          <ticker value="REGCO"/>
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        <balance>306307.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>6600915.85000000</valUSD>
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        <assetCat>EP</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>
        
        <fairValLevel>1</fairValLevel>
        <securityLending>
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          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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        <name>READY CAPITAL CORP</name>
        <lei>549300MYWGZUG7ZUYO87</lei>
        <title>READY CAPITAL CORP 9% NOTES DUE ON DECEMBER 15, 2029</title>
        <cusip>75574U838</cusip>
        <identifiers>
          <isin value="US75574U8383"/>
          <ticker value="RCD"/>
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        <balance>346394.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>7776545.30000000</valUSD>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>EP</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>
        
        <fairValLevel>1</fairValLevel>
        <securityLending>
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          <isNonCashCollateral>N</isNonCashCollateral>
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        <name>PUBLIC STORAGE</name>
        <lei>254900GLQZAD4N7N5Q19</lei>
        <title>PUBLIC STORAGE DEPOSITARY SHARES EACH REPRESENTING 1/1000 OF A 5.15% CUMULATIVE PREFERRED SHARE OF BENEFICIAL INTEREST, SERIES F</title>
        <cusip>74460W685</cusip>
        <identifiers>
          <isin value="US74460W6856"/>
          <ticker value="PSA F"/>
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        <curCd>USD</curCd>
        <valUSD>14646912.19000000</valUSD>
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        <assetCat>EP</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>
        
        <fairValLevel>1</fairValLevel>
        <securityLending>
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      <invstOrSec>
        <name>WELLS FARGO &amp; COMPANY</name>
        <lei>PBLD0EJDB5FWOLXP3B76</lei>
        <title>WELLS FARGO &amp; COMPANY DEPOSITARY SHARES, EACH REPRESENTING A 1/1,000TH INTEREST IN A SHARE OF NON-CUMULATIVE PERPETUAL CLASS A PREFERRED STOCK, SERIES</title>
        <cusip>94988U151</cusip>
        <identifiers>
          <isin value="US94988U1512"/>
          <ticker value="WFC Z"/>
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        <balance>5315281.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>99289449.08000000</valUSD>
        <pctVal>0.758127505728</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EP</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>
        
        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <loanByFundCondition isLoanByFund="Y" loanVal="452056.00000000"/>
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      <invstOrSec>
        <name>SCE TRUST VII</name>
        <lei>N/A</lei>
        <title>SCE TRUST VII 7.50% TRUST PREFERENCE SECURITIES</title>
        <cusip>783892201</cusip>
        <identifiers>
          <isin value="US7838922018"/>
          <ticker value="SCE M"/>
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        <balance>1465319.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>35094390.05000000</valUSD>
        <pctVal>0.267964246354</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EP</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>
        
        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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        <title>AXIS CAPITAL HOLDINGS LTD DEPOSITARY SHARES EACH REPRESENTING 1/100 TH INTEREST IN A 5.50% SERIES E PREFERRED SHARE</title>
        <cusip>05461T305</cusip>
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        <invCountry>BM</invCountry>
        
        <isRestrictedSec>N</isRestrictedSec>
        
        <fairValLevel>1</fairValLevel>
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        <name>TRUIST FINANCIAL CORP</name>
        <lei>549300DRQQI75D2JP341</lei>
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        <cusip>89832Q695</cusip>
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          <ticker value="TFC R"/>
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        <curCd>USD</curCd>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>EP</assetCat>
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        <fairValLevel>1</fairValLevel>
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        <name>PUBLIC STORAGE</name>
        <lei>254900GLQZAD4N7N5Q19</lei>
        <title>PUBLIC STORAGE DEPOSITARY SHARES EACH REPRESENTING 1/1000 OF A 3.900% CUMULATIVE PREFERRED SHARE OF BENEFICIAL INTEREST, SERIES O</title>
        <cusip>74460W487</cusip>
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          <ticker value="PSA O"/>
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        <balance>438260.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>6578282.60000000</valUSD>
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        <payoffProfile>Long</payoffProfile>
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        <invCountry>US</invCountry>
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        <fairValLevel>1</fairValLevel>
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        <name>METLIFE INC</name>
        <lei>C4BXATY60WC6XEOZDX54</lei>
        <title>METLIFE INC 5.625% NON-CUMULATIVE PREFERRED STOCK, SERIES E</title>
        <cusip>59156R876</cusip>
        <identifiers>
          <isin value="US59156R8768"/>
          <ticker value="MET E"/>
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        <balance>2133035.00000000</balance>
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        <curCd>USD</curCd>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>EP</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>
        
        <fairValLevel>1</fairValLevel>
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        <name>NEXTERA ENERGY INC</name>
        <lei>254900RHL9MEUS5NKX63</lei>
        <title>NEE 7.234 11/01/27</title>
        <cusip>65339F119</cusip>
        <identifiers>
          <isin value="US65339F1194"/>
          <ticker value="NEEPT"/>
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        <balance>1995566.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>99179630.20000000</valUSD>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>EP</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>
        
        <fairValLevel>1</fairValLevel>
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        <name>ASPEN INSURANCE HOLDINGS LTD</name>
        <lei>549300YX6HECG9XQCQ75</lei>
        <title>ASPEN INSURANCE HOLDINGS LTD 5.625 DEP REP 1/1000TH PFD</title>
        <cusip>000000000</cusip>
        <identifiers>
          <isin value="BMG053842040"/>
          <ticker value="AHL E"/>
          <other otherDesc="SEDOL" value="BKDJPD1"/>
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        <balance>802106.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>14814897.82000000</valUSD>
        <pctVal>0.113119587589</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EP</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>BM</invCountry>
        
        <isRestrictedSec>N</isRestrictedSec>
        
        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>BRC GROUP HOLDINGS INC</name>
        <lei>529900LRQ75IKIPK4990</lei>
        <title>BRC GROUP HOLDINGS INC CALLABLE 5.00% SENIOR NOTES DUE DECEMBER 31, 2026</title>
        <cusip>05580M793</cusip>
        <identifiers>
          <isin value="US05580M7939"/>
          <ticker value="RILYG"/>
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        <balance>510501.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>12389859.27000000</valUSD>
        <pctVal>0.094603134489</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EP</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>
        
        <fairValLevel>1</fairValLevel>
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          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>METLIFE INC</name>
        <lei>C4BXATY60WC6XEOZDX54</lei>
        <title>METLIFE INC 4.75% DEPOSITARY SHARES EACH REPRESENTING A 1/1,000TH INTEREST IN A SHARE OF FIXED RATE NON-CUMULATIVE PERPETUAL PREFERRED STOCK, SERIES F</title>
        <cusip>59156R850</cusip>
        <identifiers>
          <isin value="US59156R8503"/>
          <ticker value="MET F"/>
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        <balance>2649889.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>49393930.96000000</valUSD>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>EP</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>
        
        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>SUMMIT HOTEL PROPERTIES INC</name>
        <lei>254900OBQWJK6X20LS71</lei>
        <title>SUMMIT HOTEL PROPERTIES INC 6.250% SERIES E CUMULATIVE REDEEMABLE PREFERRED STOCK</title>
        <cusip>866082605</cusip>
        <identifiers>
          <isin value="US8660826053"/>
          <ticker value="INN E"/>
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        <balance>426191.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>7445556.77000000</valUSD>
        <pctVal>0.056850767479</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EP</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>
        
        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>BROOKFIELD INFRASTRUCTURE PARTNERS LP</name>
        <lei>549300WEH5R2OODI7Y90</lei>
        <title>BROOKFIELD INFRASTRUCTURE PARTNERS LP 5.00% CLASS A PREFERRED LIMITED PARTNERSHIP UNITS, SERIES 14</title>
        <cusip>000000000</cusip>
        <identifiers>
          <isin value="BMG162522756"/>
          <ticker value="BIP B"/>
          <other otherDesc="SEDOL" value="BMT9V97"/>
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        <balance>532853.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>8397763.28000000</valUSD>
        <pctVal>0.064121368263</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EP</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>BM</invCountry>
        
        <isRestrictedSec>N</isRestrictedSec>
        
        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>US BANCORP</name>
        <lei>N1GZ7BBF3NP8GI976H15</lei>
        <title>US BANCORP DEPOSITARY SHARES, EACH REPRESENTING 1/1,000TH INTEREST IN A SHARE OF SERIES O NON-CUMULATIVE PERPETUAL PREFERRED STOCK</title>
        <cusip>902973668</cusip>
        <identifiers>
          <isin value="US9029736686"/>
          <ticker value="USB S"/>
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        <balance>1183533.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>20628980.19000000</valUSD>
        <pctVal>0.157513184352</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EP</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>
        
        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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        <name>PEBBLEBROOK HOTEL TRUST</name>
        <lei>5493004Q1NNH6JXCSI52</lei>
        <title>PEBBLEBROOK HOTEL TRUST 6.375% SERIES G CUMULATIVE REDEEMABLE PREFERRED SHARES OF BENEFICIAL INTEREST</title>
        <cusip>70509V803</cusip>
        <identifiers>
          <isin value="US70509V8037"/>
          <ticker value="PEB G"/>
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        <balance>610576.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>12010029.92000000</valUSD>
        <pctVal>0.091702936327</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EP</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>
        
        <fairValLevel>1</fairValLevel>
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          <isCashCollateral>N</isCashCollateral>
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        <name>ATLANTICUS HOLDINGS CORP</name>
        <lei>N/A</lei>
        <title>ATLANTICUS HOLDINGS CORP 6.125% SENIOR CALLABLE NOTES DUE NOVEMBER 30, 2026</title>
        <cusip>04914Y300</cusip>
        <identifiers>
          <isin value="US04914Y3009"/>
          <ticker value="ATLCL"/>
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        <balance>389565.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>9781977.15000000</valUSD>
        <pctVal>0.074690573938</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EP</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>
        
        <fairValLevel>1</fairValLevel>
        <securityLending>
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        <name>KKR &amp; CO. INC</name>
        <lei>54930013V5I303TF9571</lei>
        <title>KKR &amp; CO. INC 6.25% SERIES D MANDATORY CONVERTIBLE PREFERRED STOCK</title>
        <cusip>48251W500</cusip>
        <identifiers>
          <isin value="US48251W5004"/>
          <ticker value="KKRPD"/>
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        <balance>3443556.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>137225706.60000000</valUSD>
        <pctVal>1.047790914649</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EP</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>
        
        <fairValLevel>1</fairValLevel>
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          <isLoanByFund>N</isLoanByFund>
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        <name>BROOKFIELD PROPERTY PARTNERS LP</name>
        <lei>5493004J5Z0TZW83NU62</lei>
        <title>BROOKFIELD PROPERTY PARTNERS LP 6.375% PFD UNITS CL A SR 2</title>
        <cusip>000000000</cusip>
        <identifiers>
          <isin value="BMG162491564"/>
          <ticker value="BPYPO"/>
          <other otherDesc="SEDOL" value="BK1KVK5"/>
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        <balance>665923.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>9629246.58000000</valUSD>
        <pctVal>0.073524395183</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EP</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>BM</invCountry>
        
        <isRestrictedSec>N</isRestrictedSec>
        
        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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        <name>GLADSTONE LAND CORP</name>
        <lei>54930002B3Q17H38FG74</lei>
        <title>GLADSTONE LAND CORP SERIES B CUMULATIVE REDEEMABLE PREFERRED STOCK</title>
        <cusip>376549309</cusip>
        <identifiers>
          <isin value="US3765493099"/>
          <ticker value="LANDO"/>
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        <balance>393650.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>7935984.00000000</valUSD>
        <pctVal>0.060595439003</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EP</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>
        
        <fairValLevel>1</fairValLevel>
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        <name>QXO INC</name>
        <lei>N/A</lei>
        <title>QXO INC DEPOSITARY SHARES EACH REPRESENTING A 1/20TH INTEREST IN A SHARE OF 5.50% SERIES B MANDATORY CONVERTIBLE PREFERRED STOCK</title>
        <cusip>82846H504</cusip>
        <identifiers>
          <isin value="US82846H5046"/>
          <ticker value="QXOPB"/>
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        <balance>763379.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>37207092.46000000</valUSD>
        <pctVal>0.284095847680</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EP</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>
        
        <fairValLevel>1</fairValLevel>
        <securityLending>
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          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>JACKSON FINANCIAL INC</name>
        <lei>213800WXW2KG1N4CO374</lei>
        <title>JACKSON FINANCIAL INC DEPOSITARY SHARES, EACH REPRESENTING A 1/1,000TH INTEREST IN A SHARE OF FIXED-RATE RESET NONCUMULATIVE PERPETUAL PREFERRED STOCK</title>
        <cusip>46817M206</cusip>
        <identifiers>
          <isin value="US46817M2061"/>
          <ticker value="JXN A"/>
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        <balance>1498271.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>37801377.33000000</valUSD>
        <pctVal>0.288633527266</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EP</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>
        
        <fairValLevel>1</fairValLevel>
        <securityLending>
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          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>CAPITAL ONE FINANCIAL CORP</name>
        <lei>ZUE8T73ROZOF6FLBAR73</lei>
        <title>CAPITAL ONE FINANCIAL CORP DEPOSITARY SHARES EACH REPRESENTING A 1/40TH INTEREST IN A SHARE OF FIXED RATE NON-CUMULATIVE PERPETUAL PREFERRED STOCK, SE</title>
        <cusip>14040H758</cusip>
        <identifiers>
          <isin value="US14040H7585"/>
          <ticker value="COF L"/>
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        <balance>1781602.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>28345287.82000000</valUSD>
        <pctVal>0.216431277978</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EP</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>
        
        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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        <name>TRINITY CAPITAL INC</name>
        <lei>549300YGT4SBRQYDVU48</lei>
        <title>TRINITY CAPITAL INC 7.875% NOTES DUE SEPTEMBER 30, 2029</title>
        <cusip>896442704</cusip>
        <identifiers>
          <isin value="US8964427046"/>
          <ticker value="TRINI"/>
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        <balance>312319.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>7836083.71000000</valUSD>
        <pctVal>0.059832647404</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EP</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>
        
        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>STIFEL FINANCIAL CORP</name>
        <lei>549300E5F07FE5GHJX84</lei>
        <title>STIFEL FINANCIAL CORP DEPOSITARY SHARES, EACH REPRESENTING A 1/1000TH INTEREST IN A SHARE OF 6.25% NON-CUMULATIVE PREFERRED STOCK SERIES B</title>
        <cusip>860630706</cusip>
        <identifiers>
          <isin value="US8606307069"/>
          <ticker value="SF B"/>
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        <balance>426191.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>9631916.60000000</valUSD>
        <pctVal>0.073544782199</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EP</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>
        
        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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        <name>AMERICAN FINANCIAL GROUP INC</name>
        <lei>549300AFOM7IVKIU1G39</lei>
        <title>AMERICAN FINANCIAL GROUP INC 5.125% SUBORDINATED DEBENTURES DUE DECEMBER 15,2059</title>
        <cusip>025932880</cusip>
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        <valUSD>9329630.75000000</valUSD>
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        <assetCat>EP</assetCat>
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        <isRestrictedSec>N</isRestrictedSec>
        
        <fairValLevel>1</fairValLevel>
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        <name>MORGAN STANLEY</name>
        <lei>IGJSJL3JD5P30I6NJZ34</lei>
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        <cusip>61747S504</cusip>
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          <ticker value="MS A"/>
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        <balance>2907486.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>54660736.80000000</valUSD>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>EP</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>
        
        <fairValLevel>1</fairValLevel>
        <securityLending>
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        <name>TWO HARBORS INVESTMENTS CORP</name>
        <lei>549300ZUIBT6KH4HU823</lei>
        <title>TWO HARBORS INVESTMENTS CORP 8.125% SERIES A FIXED-TO-FLOATING RATE CUMULATIVE REDEEMABLE PREFERRED STOCK</title>
        <cusip>90187B200</cusip>
        <identifiers>
          <isin value="US90187B2007"/>
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        <curCd>USD</curCd>
        <valUSD>8204771.61000000</valUSD>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>EP</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>
        
        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>REGIONS FINANCIAL CORP</name>
        <lei>CW05CS5KW59QTC0DG824</lei>
        <title>REGIONS FINANCIAL CORP DEPOSITARY SHARES (THE DEPOSITARY SHARES) EACH REPRESENTING A 1/40TH INTEREST IN A SHARE OF 4.45% NON-CUMULATIVE PERPETUAL PREF</title>
        <cusip>7591EP886</cusip>
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          <ticker value="RF E"/>
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        <valUSD>17034504.57000000</valUSD>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>EP</assetCat>
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        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>
        
        <fairValLevel>1</fairValLevel>
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        <name>MFA FINANCIAL INC</name>
        <lei>YW72IMH2RRC8Z1TGLG58</lei>
        <title>MFA FINANCIAL INC 8.875% SENIOR NOTES DUE FEBRUARY 15, 2029</title>
        <cusip>55272X706</cusip>
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          <isin value="US55272X7066"/>
          <ticker value="MFAN"/>
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        <balance>308450.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>7732841.50000000</valUSD>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>EP</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>
        
        <fairValLevel>1</fairValLevel>
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        <name>COREBRIDGE FINANCIAL INC</name>
        <lei>549300XY1661QCIA7J65</lei>
        <title>COREBRIDGE FINANCIAL INC 6.375% JUNIOR SUBORDINATED NOTES DUE DECEMBER 15,2064.</title>
        <cusip>21871X208</cusip>
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          <isin value="US21871X2080"/>
          <ticker value="CRBD"/>
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        <balance>1598629.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>36672549.26000000</valUSD>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>EP</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>
        
        <fairValLevel>1</fairValLevel>
        <securityLending>
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        <name>PUBLIC STORAGE</name>
        <lei>254900GLQZAD4N7N5Q19</lei>
        <title>PUBLIC STORAGE DEPOSITARY SHARES EACH REPRESENTING 1/1000 OF A 3.875% CUMULATIVE PREFERRED SHARE OF BENEFICIAL INTEREST, SERIES N</title>
        <cusip>74460W511</cusip>
        <identifiers>
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          <ticker value="PSA N"/>
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        <balance>732068.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>10966378.64000000</valUSD>
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        <assetCat>EP</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>
        
        <fairValLevel>1</fairValLevel>
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        <name>PRUDENTIAL FINANCIAL INC</name>
        <lei>5PRBRS5FEH7NREC8OR45</lei>
        <title>PRUDENTIAL FINANCIAL INC 5.625% JUNIOR SUBORDINATED NOTES DUE 2058</title>
        <cusip>744320805</cusip>
        <identifiers>
          <isin value="US7443208050"/>
          <ticker value="PRS"/>
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        <balance>1504823.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>33091057.77000000</valUSD>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>EP</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>
        
        <fairValLevel>1</fairValLevel>
        <securityLending>
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      <invstOrSec>
        <name>JP MORGAN CHASE &amp; COMPANY</name>
        <lei>8I5DZWZKVSZI1NUHU748</lei>
        <title>JP MORGAN CHASE &amp; COMPANY DEPOSITARY SHARES, EACH REPRESENTING A 1/400TH INTEREST IN A SHARE OF JPMORGAN CHASE &amp; CO. 4.625% NON-CUMULATIVE PREFERRED S</title>
        <cusip>48128B549</cusip>
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          <isin value="US48128B5497"/>
          <ticker value="JPM L"/>
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        <curCd>USD</curCd>
        <valUSD>91910052.00000000</valUSD>
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        <assetCat>EP</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>
        
        <fairValLevel>1</fairValLevel>
        <securityLending>
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        <name>VALLEY NATIONAL BANCORP</name>
        <lei>549300ET52S1UBIB9762</lei>
        <title>VALLEY NATIONAL BANCORP 6.25% FIXED-TO-FLOATING RATE NON-CUMULATIVE PERPETUAL PREFERRED STOCK, SERIES A</title>
        <cusip>919794206</cusip>
        <identifiers>
          <isin value="US9197942066"/>
          <ticker value="VLYPP"/>
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        <balance>301060.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>7397044.20000000</valUSD>
        <pctVal>0.056480348325</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EP</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>
        
        <fairValLevel>1</fairValLevel>
        <securityLending>
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        <name>CHIMERA INVESTMENT CORP</name>
        <lei>2JBBQFJOL123LOUBE657</lei>
        <title>CHIMERA INVESTMENT CORP 7.75% SER C FIXED TO FLOAT CUM RED PFD STOCK</title>
        <cusip>16934Q505</cusip>
        <identifiers>
          <isin value="US16934Q5053"/>
          <ticker value="CIM C"/>
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        <balance>692627.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>15681075.28000000</valUSD>
        <pctVal>0.119733311034</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EP</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>
        
        <fairValLevel>1</fairValLevel>
        <securityLending>
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      <invstOrSec>
        <name>DIGITALBRIDGE GROUP INC</name>
        <lei>549300XG87L902AGBO89</lei>
        <title>DIGITALBRIDGE GROUP INC 7.125% SERIES H CUMULATIVE REDEEMABLE PREFERRED STOCK</title>
        <cusip>25401T504</cusip>
        <identifiers>
          <isin value="US25401T5048"/>
          <ticker value="DBRG H"/>
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        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>8281342.02000000</valUSD>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>EP</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>
        
        <fairValLevel>1</fairValLevel>
        <securityLending>
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      <invstOrSec>
        <name>STIFEL FINANCIAL CORP</name>
        <lei>549300E5F07FE5GHJX84</lei>
        <title>STIFEL FINANCIAL CORP DEPOSITARY SHARES, EACH REPRESENTING A 1/1000TH INTEREST IN A SHARE OF 6.125% NON-CUMULATIVE PREFERRED STOCK SERIES C</title>
        <cusip>860630870</cusip>
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          <ticker value="SF C"/>
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        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>13000628.40000000</valUSD>
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        <assetCat>EP</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>
        
        <fairValLevel>1</fairValLevel>
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        <name>SOUTHERN COMPANY (THE)</name>
        <lei>549300FC3G3YU2FBZD92</lei>
        <title>SOUTHERN COMPANY (THE) CALLABLE JUNIOR SUBORDINATED NOTES DUE 10/15/2060</title>
        <cusip>842587883</cusip>
        <identifiers>
          <isin value="US8425878837"/>
          <ticker value="SOJE"/>
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        <balance>1982222.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>33539196.24000000</valUSD>
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        <assetCat>EP</assetCat>
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        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>
        
        <fairValLevel>1</fairValLevel>
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        <name>PINNACLE FINANCIAL PARTNERS INC</name>
        <lei>N/A</lei>
        <title>PINNACLE FINANCIAL PARTNERS INC FIXED RATE RESET NON-CUM PERP PFD SER B</title>
        <cusip>72348N307</cusip>
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          <isin value="US72348N3070"/>
          <ticker value="PNFP B"/>
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        <curCd>USD</curCd>
        <valUSD>24979100.16000000</valUSD>
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        <assetCat>EP</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>
        
        <fairValLevel>1</fairValLevel>
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        <name>ATHENE HOLDING LTD</name>
        <lei>549300H316CT32FQXI76</lei>
        <title>ATHENE HOLDING LTD JUNIOR SUBORDINATED DEBENTURES DUE ON MARCH 30, 2064</title>
        <cusip>04686J838</cusip>
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          <isin value="US04686J8383"/>
          <ticker value="ATHS"/>
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        <curCd>USD</curCd>
        <valUSD>37493365.00000000</valUSD>
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        <assetCat>EP</assetCat>
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        <isRestrictedSec>N</isRestrictedSec>
        
        <fairValLevel>1</fairValLevel>
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        <name>AMERICAN NATIONAL GROUP INC</name>
        <lei>549300RK5RZQ740FPL83</lei>
        <title>AMERICAN NATIONAL GROUP INC DEPOSITARY SHARE REPRESENTING 1/1000TH, 7.375% FIXED-RATE NON-CUMULATIVE PREFERRED STOCK SERIES D</title>
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          <isin value="US0256768591"/>
          <ticker value="ANG D"/>
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        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>
        
        <fairValLevel>1</fairValLevel>
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        <name>BREAD FINANCIAL HOLDINGS INC</name>
        <lei>549300G8S4PO686J7H97</lei>
        <title>BREAD FINANCIAL HOLDINGS INC DEPOSITARY SHARES, EACH REPRESENTING A 1/40TH INTEREST IN A SHARE OF 8.875% FIXED RATE RESET NON-CUMULATIVE PERPETUAL PRE</title>
        <cusip>018581603</cusip>
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          <isin value="US0185816032"/>
          <ticker value="BFH B"/>
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        <curCd>USD</curCd>
        <valUSD>8189296.20000000</valUSD>
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        <assetCat>EP</assetCat>
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        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>
        
        <fairValLevel>1</fairValLevel>
        <securityLending>
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        <name>FEDERAL AGRICULTURAL MORTGAGE CORP</name>
        <lei>549300MS654K78GYF580</lei>
        <title>FEDERAL AGRICULTURAL MORTGAGE CORP 5.700% NON CUMULATIVE PERPETUAL SERIES D PREFERRED STOCK</title>
        <cusip>313148868</cusip>
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          <ticker value="AGM D"/>
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        <balance>259951.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>5482366.59000000</valUSD>
        <pctVal>0.041860771178</pctVal>
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        <assetCat>EP</assetCat>
        <issuerCat>USGSE</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>
        
        <fairValLevel>1</fairValLevel>
        <securityLending>
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        <name>AEGON FUNDING COMPANY LLC</name>
        <lei>KEIOKM01PSK5VZ5CCI74</lei>
        <title>AEGON FUNDING COMPANY LLC 5.10% SUBORDINATED NOTES DUE DECEMBER 15, 2049</title>
        <cusip>00775V104</cusip>
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          <isin value="US00775V1044"/>
          <ticker value="AEFC"/>
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        <curCd>USD</curCd>
        <valUSD>46330588.40000000</valUSD>
        <pctVal>0.353758568992</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EP</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        
        <isRestrictedSec>N</isRestrictedSec>
        
        <fairValLevel>1</fairValLevel>
        <securityLending>
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        <name>BANK OF AMERICA CORP</name>
        <lei>9DJT3UXIJIZJI4WXO774</lei>
        <title>BANK OF AMERICA CORP DEP SHS EACH REP A 1/1,000TH INT IN A SHARE OF BANK OF AMERICA CORP 5.375% NON-CUMULATIVE PREFERRED STOCK, SERIES KK</title>
        <cusip>06053U601</cusip>
        <identifiers>
          <isin value="US06053U6010"/>
          <ticker value="BAC M"/>
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        <balance>2680998.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>57561027.06000000</valUSD>
        <pctVal>0.439508913349</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EP</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>
        
        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>KIMCO REALTY CORP</name>
        <lei>254900ARY41P4V1JL861</lei>
        <title>KIMCO REALTY CORP DEPOSITARY SHARES EACH REPRESENTING 1/1000 OF A SHARE OF 5.125% CLASS L CUMULATIVE REDEEMABLE PREFERRED STOCK</title>
        <cusip>49446R737</cusip>
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          <isin value="US49446R7373"/>
          <ticker value="KIM L"/>
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        <balance>592942.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>11514933.64000000</valUSD>
        <pctVal>0.087922614134</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EP</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>
        
        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>ALLSTATE CORP (THE)</name>
        <lei>OBT0W1ED8G0NWVOLOJ77</lei>
        <title>ALLSTATE CORP (THE) DEP SHS REP 1/1000 NON CUM</title>
        <cusip>020002838</cusip>
        <identifiers>
          <isin value="US0200028381"/>
          <ticker value="ALL H"/>
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        <balance>3057236.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>60777851.68000000</valUSD>
        <pctVal>0.464071072250</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EP</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>
        
        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>PUBLIC STORAGE</name>
        <lei>254900GLQZAD4N7N5Q19</lei>
        <title>PUBLIC STORAGE 4.875% DEP SHS EACH REP 1/1000 OF A PFD SHS OF BEN INT SER I</title>
        <cusip>74460W628</cusip>
        <identifiers>
          <isin value="US74460W6286"/>
          <ticker value="PSA I"/>
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        <balance>833292.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>15624225.00000000</valUSD>
        <pctVal>0.119299229051</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EP</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>
        
        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>MORGAN STANLEY</name>
        <lei>IGJSJL3JD5P30I6NJZ34</lei>
        <title>MORGAN STANLEY DEPOSITARY SHARES EACH REPRESENTING 1/1,000TH OF A SHARE OF 4.875% NON-CUMULATIVE PREFERRED STOCK SERIES L</title>
        <cusip>61762V804</cusip>
        <identifiers>
          <isin value="US61762V8046"/>
          <ticker value="MS L"/>
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        <balance>1307351.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>25532565.03000000</valUSD>
        <pctVal>0.194954650473</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EP</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>
        
        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>MERCHANTS BANCORP (INDIANA)</name>
        <lei>54930008Y0GPVLF81889</lei>
        <title>MERCHANTS BANCORP (INDIANA) 7.625% DEPOSITARY SHS REPSTG 1/40TH INT FXD RATE NON CUM PERP PFD SER E</title>
        <cusip>58844R850</cusip>
        <identifiers>
          <isin value="US58844R8503"/>
          <ticker value="MBINL"/>
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        <balance>607332.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>14800680.84000000</valUSD>
        <pctVal>0.113011033420</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EP</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>
        
        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>CITIZENS FINANCIAL GROUP INC</name>
        <lei>2138004JDDA4ZQUPFW65</lei>
        <title>CITIZENS FINANCIAL GROUP INC DEP SHS EA REP 1/40TH NON E</title>
        <cusip>174610402</cusip>
        <identifiers>
          <isin value="US1746104025"/>
          <ticker value="CFG E"/>
        </identifiers>
        <balance>1186728.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>21693387.84000000</valUSD>
        <pctVal>0.165640500237</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EP</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>
        
        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>CION INVESTMENT CORP</name>
        <lei>549300XN70JLF94XKX80</lei>
        <title>CION INVESTMENT CORP NOTES ISSUED DUE ON MARCH 31, 2031</title>
        <cusip>17259U402</cusip>
        <identifiers>
          <isin value="US17259U4022"/>
          <ticker value="CICC"/>
        </identifiers>
        <balance>337169.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>8213436.84000000</valUSD>
        <pctVal>0.062713938315</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EP</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>
        
        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>SOLUNA HOLDINGS INC</name>
        <lei>N/A</lei>
        <title>SOLUNA HOLDINGS INC 9.0% SERIES A CUMULATIVE PERPETUAL PREFERRED STOCK</title>
        <cusip>583543202</cusip>
        <identifiers>
          <isin value="US5835432023"/>
          <ticker value="SLNHP"/>
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        <balance>321313.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>3409130.93000000</valUSD>
        <pctVal>0.026030519381</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EP</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>
        
        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>APOLLO GLOBAL MANAGEMENT INC</name>
        <lei>254900LMFT1CY9IYB476</lei>
        <title>APOLLO GLOBAL MANAGEMENT INC 6.75% SERIES A MANDATORY CONVERTIBLE PREFERRED STOCK</title>
        <cusip>03769M304</cusip>
        <identifiers>
          <isin value="US03769M3043"/>
          <ticker value="APOPA"/>
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        <balance>1912826.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>116529359.92000000</valUSD>
        <pctVal>0.889763351483</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EP</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>
        
        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>MORGAN STANLEY</name>
        <lei>IGJSJL3JD5P30I6NJZ34</lei>
        <title>MORGAN STANLEY FIXED-TO-FLOATING RATE NON-CUMULATIVE PREFERRED STOCK, SERIES I</title>
        <cusip>61761J406</cusip>
        <identifiers>
          <isin value="US61761J4067"/>
          <ticker value="MS I"/>
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        <balance>2664243.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>66392935.56000000</valUSD>
        <pctVal>0.506945210196</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EP</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>
        
        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>BANK OF AMERICA CORP</name>
        <lei>9DJT3UXIJIZJI4WXO774</lei>
        <title>BANK OF AMERICA CORP DEPOSITARY SHARES, EACH REPRESENTING A 1/1,000TH INTEREST IN A SHARE OF BANK OF AMERICA CORPORATION 4.250% NON-CUMULATIVE PREFERR</title>
        <cusip>06055H806</cusip>
        <identifiers>
          <isin value="US06055H8060"/>
          <ticker value="BAC Q"/>
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        <balance>2443040.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>41824844.80000000</valUSD>
        <pctVal>0.319354831349</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EP</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>
        
        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>OLD NATIONAL BANCORP</name>
        <lei>549300MMK90CL5KMVX16</lei>
        <title>OLD NATIONAL BANCORP DEPOSITARY SHARES EACH REPRESENTING A 1/40TH INTEREST IN A SHARE OF FIXED RATE NON-CUMULATIVE PERPETUAL PREFERRED STOCK, SERIES A</title>
        <cusip>68003D204</cusip>
        <identifiers>
          <isin value="US68003D2045"/>
          <ticker value="ONBPP"/>
        </identifiers>
        <balance>287641.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>7127743.98000000</valUSD>
        <pctVal>0.054424098583</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EP</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>
        
        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>MAIDEN HOLDINGS NORTH AMERICA LTD</name>
        <lei>N/A</lei>
        <title>MAIDEN HOLDINGS NORTH AMERICA LTD 7.75 % SENIOR UNSECURED NOTES DUE DECEMBER 1, 2043</title>
        <cusip>56029Q408</cusip>
        <identifiers>
          <isin value="US56029Q4082"/>
          <ticker value="MHNC"/>
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        <balance>395995.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>4652941.25000000</valUSD>
        <pctVal>0.035527669625</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EP</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>
        
        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>FEDERAL AGRICULTURAL MORTGAGE CORP</name>
        <lei>549300MS654K78GYF580</lei>
        <title>FEDERAL AGRICULTURAL MORTGAGE CORP 6.875 NON CUMULATIVE PREFERRED STK SER I</title>
        <cusip>313148819</cusip>
        <identifiers>
          <isin value="US3131488195"/>
          <ticker value="AGM I"/>
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        <balance>266331.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>6317371.32000000</valUSD>
        <pctVal>0.048236474328</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EP</assetCat>
        <issuerCat>USGSE</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>
        
        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>DTE ENERGY COMPANY</name>
        <lei>549300IX8SD6XXD71I78</lei>
        <title>DTE ENERGY COMPANY 4.375% JUNIOR SUBORDINATED DEBENTURES DUE DECEMBER 1,2081</title>
        <cusip>233331818</cusip>
        <identifiers>
          <isin value="US2333318184"/>
          <ticker value="DTG"/>
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        <balance>738015.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>12561015.30000000</valUSD>
        <pctVal>0.095910001385</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EP</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>
        
        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>TRITON INTERNATIONAL LTD</name>
        <lei>N/A</lei>
        <title>TRITON INTERNATIONAL LTD 8.00% SERIES B CUMULATIVE REDEEMABLE PERPETUAL PREFERENCE SHARES</title>
        <cusip>000000000</cusip>
        <identifiers>
          <isin value="BMG9078F1317"/>
          <ticker value="TRTN B"/>
          <other otherDesc="SEDOL" value="BJK4N72"/>
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        <balance>377707.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>9465337.42000000</valUSD>
        <pctVal>0.072272861976</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EP</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>BM</invCountry>
        
        <isRestrictedSec>N</isRestrictedSec>
        
        <fairValLevel>2</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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        <name>PUBLIC STORAGE</name>
        <lei>254900GLQZAD4N7N5Q19</lei>
        <title>PUBLIC STORAGE DEPOSITARY SHARES EACH REPRESENTING 1/1000 OF A 4.625% CUMULATIVE PREFERRED SHARE OF BENEFICIAL INTEREST, SERIES L</title>
        <cusip>74460W552</cusip>
        <identifiers>
          <isin value="US74460W5528"/>
          <ticker value="PSA L"/>
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        <balance>1490381.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>26513877.99000000</valUSD>
        <pctVal>0.202447494411</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EP</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>
        
        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>BRIGHTHOUSE FINANCIAL INC</name>
        <lei>5493003T8SZSHOGGAW52</lei>
        <title>BRIGHTHOUSE FINANCIAL INC 6.250% JUNIOR SUBORDINATED DEBENTURES DUE SEPTEMBER 15, 2058</title>
        <cusip>10922N202</cusip>
        <identifiers>
          <isin value="US10922N2027"/>
          <ticker value="BHFAL"/>
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        <balance>990895.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>15537233.60000000</valUSD>
        <pctVal>0.118635003660</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EP</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>
        
        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>STRATEGY INC</name>
        <lei>549300WQTWEJUEHXQX21</lei>
        <title>STRATEGY INC VARIABLE RATE SERIES A PERPETUAL STRETCH PREFERRED STOCK</title>
        <cusip>594972853</cusip>
        <identifiers>
          <isin value="US5949728530"/>
          <ticker value="STRC"/>
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        <balance>4546874.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>385847727.64000000</valUSD>
        <pctVal>2.946151661201</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EP</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>
        
        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>PG&amp;E CORP</name>
        <lei>8YQ2GSDWYZXO2EDN3511</lei>
        <title>PG&amp;E CORP 6% SER A MAND CONV PFD STK</title>
        <cusip>69331C306</cusip>
        <identifiers>
          <isin value="US69331C3060"/>
          <ticker value="PCGPX"/>
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        <balance>2141471.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>88592655.27000000</valUSD>
        <pctVal>0.676451822304</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EP</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>
        
        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>CHIMERA INVESTMENT CORP</name>
        <lei>2JBBQFJOL123LOUBE657</lei>
        <title>CHIMERA INVESTMENT CORP NOTES ISSUED DUE ON AUGUST 15, 2030</title>
        <cusip>16934Q869</cusip>
        <identifiers>
          <isin value="US16934Q8693"/>
          <ticker value="CIMP"/>
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        <balance>322139.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>8056696.39000000</valUSD>
        <pctVal>0.061517142004</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EP</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>
        
        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>TRANSCANADA PIPELINES LTD</name>
        <lei>5BV01I6231JPDAPMGH09</lei>
        <title>TRANSCANADA PIPELINES LTD CALLABLE JUNIOR SUBORDINATED NOTES DUE 01 NOV 2085</title>
        <cusip>893526681</cusip>
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          <isin value="US8935266812"/>
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        <fairValLevel>1</fairValLevel>
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        <name>AH REALTY TRUST INC</name>
        <lei>549300WQRSIV6XZT9313</lei>
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        <cusip>04208T207</cusip>
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          <ticker value="AHH A"/>
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        <fairValLevel>1</fairValLevel>
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        <name>BRC GROUP HOLDINGS INC</name>
        <lei>529900LRQ75IKIPK4990</lei>
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        <cusip>05580M835</cusip>
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        <fairValLevel>1</fairValLevel>
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        <name>PEBBLEBROOK HOTEL TRUST</name>
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        <cusip>70509V886</cusip>
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        <fairValLevel>1</fairValLevel>
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        <name>ALLSTATE CORP (THE)</name>
        <lei>OBT0W1ED8G0NWVOLOJ77</lei>
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        <fairValLevel>1</fairValLevel>
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        <name>EPR PROPERTIES</name>
        <lei>549300YSSXFHMPOWZ492</lei>
        <title>EPR PROPERTIES 5.750% SERIES G CUMULATIVE REDEEMABLE PREFERRED SHARES</title>
        <cusip>26884U505</cusip>
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          <isin value="US26884U5056"/>
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        <assetCat>EP</assetCat>
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        <fairValLevel>1</fairValLevel>
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        <name>TRINITY CAPITAL INC</name>
        <lei>549300YGT4SBRQYDVU48</lei>
        <title>TRINITY CAPITAL INC 7.875% FIXED RATE NOTES ISSUED 3/30/2029</title>
        <cusip>896442605</cusip>
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          <isin value="US8964426055"/>
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        <assetCat>EP</assetCat>
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        <fairValLevel>1</fairValLevel>
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        <name>WELLS FARGO &amp; COMPANY</name>
        <lei>PBLD0EJDB5FWOLXP3B76</lei>
        <title>WELLS FARGO &amp; COMPANY DEPOSITARY SHARES, EACH REPRESENTING A 1/1,000TH INTEREST IN A SHARE OF NON-CUMULATIVE PERPETUAL CLASS A PREFERRED STOCK, SERIES</title>
        <cusip>94988U128</cusip>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>EP</assetCat>
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        <fairValLevel>1</fairValLevel>
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        <name>JP MORGAN CHASE &amp; COMPANY</name>
        <lei>8I5DZWZKVSZI1NUHU748</lei>
        <title>JP MORGAN CHASE &amp; COMPANY DEPOSITARY SHARES EACH REPRESENTING A 1/400TH INTEREST IN A SHARE OF 4.75% NON-CUMULATIVE PREFERRED STOCK, SERIES GG</title>
        <cusip>48128B622</cusip>
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        <assetCat>EP</assetCat>
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        <fairValLevel>1</fairValLevel>
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        <name>NGL ENERGY PARTNERS LP</name>
        <lei>5299005YSRP46BE8Z459</lei>
        <title>NGL ENERGY PARTNERS LP 9.00% CLASS B FIXED-TO-FLOATING RATE CUMULATIVE REDEEMABLE PERPETUAL PREFERRED UNITS</title>
        <cusip>62913M206</cusip>
        <identifiers>
          <isin value="US62913M2061"/>
          <ticker value="NGL B"/>
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        <curCd>USD</curCd>
        <valUSD>22511187.40000000</valUSD>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>EP</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>
        
        <fairValLevel>1</fairValLevel>
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        <name>EQUITABLE HOLDINGS INC</name>
        <lei>549300FIBAKMNHPZ4009</lei>
        <title>EQUITABLE HOLDINGS INC DEPOSITARY SHARES EACH REPRESENTING A 1/1,000TH INTEREST IN A SHARE OF THE ISSUERS FIXED RATE NONCUMULATIVE PERPETUAL PREFERRED</title>
        <cusip>29452E408</cusip>
        <identifiers>
          <isin value="US29452E4089"/>
          <ticker value="EQH C"/>
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        <curCd>USD</curCd>
        <valUSD>13222657.80000000</valUSD>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>EP</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>
        
        <fairValLevel>1</fairValLevel>
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        <name>W. R. BERKLEY CORP</name>
        <lei>SQOAGCLKBDWNVYV1OV80</lei>
        <title>W. R. BERKLEY CORP 5.70% SUBORDINATED DEBENTURES DUE 2058</title>
        <cusip>084423706</cusip>
        <identifiers>
          <isin value="US0844237067"/>
          <ticker value="WRB E"/>
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        <balance>486694.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>10249775.64000000</valUSD>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>EP</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>
        
        <fairValLevel>1</fairValLevel>
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      <invstOrSec>
        <name>SEAPEAK LLC</name>
        <lei>549300CP38L0UER0I397</lei>
        <title>SEAPEAK LLC 8.5% CUM RED PERP PFD UNTS</title>
        <cusip>000000000</cusip>
        <identifiers>
          <isin value="MHY8564M2048"/>
          <ticker value="SEAL B"/>
          <other otherDesc="SEDOL" value="BF4VQJ4"/>
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        <curCd>USD</curCd>
        <valUSD>11050834.55000000</valUSD>
        <pctVal>0.084378971897</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EP</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>MH</invCountry>
        
        <isRestrictedSec>N</isRestrictedSec>
        
        <fairValLevel>1</fairValLevel>
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      <invstOrSec>
        <name>HARTFORD INSURANCE GROUP INC (THE)</name>
        <lei>IU7C3FTM7Y3BQM112U94</lei>
        <title>HARTFORD INSURANCE GROUP INC (THE) DEP SHS REP 1/1000TH INT SHS OF 6% NON CUM PFD STK SER G</title>
        <cusip>416518603</cusip>
        <identifiers>
          <isin value="US4165186036"/>
          <ticker value="HIG G"/>
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        <balance>919096.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>22793580.80000000</valUSD>
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        <assetCat>EP</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>
        
        <fairValLevel>1</fairValLevel>
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        <name>LIVE OAK BANCSHARES INC</name>
        <lei>N/A</lei>
        <title>LIVE OAK BANCSHARES INC DEPOSITARY SHARES EACH REPRESENTING A 1/40TH INTEREST IN A SHARE OF 8.375% FIXED RATE NON-CUMULATIVE PERPETUAL PREFERRED STOCK</title>
        <cusip>53803X402</cusip>
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          <isin value="US53803X4025"/>
          <ticker value="LOB A"/>
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        <curCd>USD</curCd>
        <valUSD>6554586.87000000</valUSD>
        <pctVal>0.050047740629</pctVal>
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        <assetCat>EP</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>
        
        <fairValLevel>1</fairValLevel>
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          <isNonCashCollateral>N</isNonCashCollateral>
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        <name>CARLYLE FINANCE LLC</name>
        <lei>N/A</lei>
        <title>CARLYLE FINANCE LLC CARLYLE FINANCE L.L.C. 4.625% SUBORDINATED NOTES DUE MAY 15, 2061</title>
        <cusip>14314C105</cusip>
        <identifiers>
          <isin value="US14314C1053"/>
          <ticker value="CGABL"/>
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        <balance>1331733.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>21720565.23000000</valUSD>
        <pctVal>0.165848013997</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EP</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>
        
        <fairValLevel>1</fairValLevel>
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          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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        <name>BROOKFIELD PROPERTY PREFERRED LP</name>
        <lei>254900N07TR905Y0G344</lei>
        <title>BROOKFIELD PROPERTY PREFERRED LP CLASS A CUMULATIVE REDEEMABLE PREFERRED UNITS, SERIES 1</title>
        <cusip>000000000</cusip>
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          <isin value="BMG1624R1079"/>
          <ticker value="BPYPM"/>
          <other otherDesc="SEDOL" value="BMJ0KL5"/>
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        <curCd>USD</curCd>
        <valUSD>27713938.00000000</valUSD>
        <pctVal>0.211610587877</pctVal>
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        <assetCat>EP</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>BM</invCountry>
        
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        <fairValLevel>1</fairValLevel>
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        <name>TWO HARBORS INVESTMENTS CORP</name>
        <lei>549300ZUIBT6KH4HU823</lei>
        <title>TWO HARBORS INVESTMENTS CORP 7.625% SERIES B FIXED-TO-FLOATING RATE CUMULATIVE REDEEMABLE PREFERRED STOCK</title>
        <cusip>90187B309</cusip>
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          <isin value="US90187B3096"/>
          <ticker value="TWO B"/>
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        <balance>676573.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>16264814.92000000</valUSD>
        <pctVal>0.124190472207</pctVal>
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        <assetCat>EP</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>
        
        <fairValLevel>1</fairValLevel>
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        <name>PACIFIC GAS &amp; ELECTRIC COMPANY</name>
        <lei>1HNPXZSMMB7HMBMVBS46</lei>
        <title>PACIFIC GAS &amp; ELECTRIC COMPANY 6.00% FIRST PREFERRED</title>
        <cusip>694308206</cusip>
        <identifiers>
          <isin value="US6943082064"/>
          <ticker value="PCG A"/>
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        <balance>274543.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>5996019.12000000</valUSD>
        <pctVal>0.045782780163</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EP</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>
        
        <fairValLevel>1</fairValLevel>
        <securityLending>
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          <isNonCashCollateral>N</isNonCashCollateral>
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        <name>ENTERGY MISSISSIPPI LLC</name>
        <lei>54930043I78H35DVVW89</lei>
        <title>ENTERGY MISSISSIPPI LLC 4.90% SERIES DUE OCTOBER 1, 2066</title>
        <cusip>29364N108</cusip>
        <identifiers>
          <isin value="US29364N1081"/>
          <ticker value="EMP"/>
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        <balance>686270.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>13704811.90000000</valUSD>
        <pctVal>0.104643493931</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EP</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>
        
        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>MFA FINANCIAL INC</name>
        <lei>YW72IMH2RRC8Z1TGLG58</lei>
        <title>MFA FINANCIAL INC 7.50% SERIES B CUMULATIVE REDEEMABLE PREFERRED STOCK</title>
        <cusip>55272X409</cusip>
        <identifiers>
          <isin value="US55272X4097"/>
          <ticker value="MFA B"/>
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        <balance>532853.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>10715673.83000000</valUSD>
        <pctVal>0.081819842372</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EP</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>
        
        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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        <name>AFFILIATED MANAGERS GROUP INC</name>
        <lei>2JE75BUE3T1BLCYYGK54</lei>
        <title>AFFILIATED MANAGERS GROUP INC 5.875% JUNIOR SUBORDINATED NOTES DUE MARCH 30, 2059</title>
        <cusip>008252850</cusip>
        <identifiers>
          <isin value="US0082528508"/>
          <ticker value="MGR"/>
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        <balance>794681.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>15679056.13000000</valUSD>
        <pctVal>0.119717893755</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EP</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>
        
        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>HUNTINGTON BANCSHARES INC</name>
        <lei>549300XTVCVV9I7B5T19</lei>
        <title>HUNTINGTON BANCSHARES INC DEPOSITARY SHS EACH REPRESENTING A 1/1000TH INTEREST IN A SHARE OF 5.50% NON-CUMULATIVE PERPETUAL PREF STK SER L</title>
        <cusip>446150757</cusip>
        <identifiers>
          <isin value="US4461507570"/>
          <ticker value="HBANZ"/>
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        <balance>454822.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>8955445.18000000</valUSD>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>EP</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>
        
        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>CAPITAL ONE FINANCIAL CORP</name>
        <lei>ZUE8T73ROZOF6FLBAR73</lei>
        <title>CAPITAL ONE FINANCIAL CORP DEPOSITARY SHARES EACH REPRESENTING A 1/40TH INTEREST IN A SHARE OF FIXED RATE NON-CUMULATIVE PERPETUAL PREFERRED STOCK, SE</title>
        <cusip>14040H733</cusip>
        <identifiers>
          <isin value="US14040H7338"/>
          <ticker value="COF N"/>
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        <balance>1115197.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>17408225.17000000</valUSD>
        <pctVal>0.132921014766</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EP</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>
        
        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>WELLS FARGO &amp; COMPANY</name>
        <lei>PBLD0EJDB5FWOLXP3B76</lei>
        <title>WELLS FARGO &amp; COMPANY DEPOSITARY SHARES EACH REPRESENTING A 1/1,000TH INTEREST IN A SHARE OF NON-CUMULATIVE PERPETUAL CLASS A PREFERRED STOCK, SERIES</title>
        <cusip>95002Y202</cusip>
        <identifiers>
          <isin value="US95002Y2028"/>
          <ticker value="WFC C"/>
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        <balance>2741956.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>47024545.40000000</valUSD>
        <pctVal>0.359057298056</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EP</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>
        
        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>STRATEGY INC</name>
        <lei>549300WQTWEJUEHXQX21</lei>
        <title>STRATEGY INC 10.00% SERIES A PERPETUAL STRIFE PREFERRED STOCK</title>
        <cusip>594972879</cusip>
        <identifiers>
          <isin value="US5949728795"/>
          <ticker value="STRF"/>
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        <balance>668355.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>61956508.50000000</valUSD>
        <pctVal>0.473070741030</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EP</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>
        
        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>BANK OF AMERICA CORP</name>
        <lei>9DJT3UXIJIZJI4WXO774</lei>
        <title>BANK OF AMERICA CORP DEP SHS REP 1/1200 PFD 4</title>
        <cusip>060505591</cusip>
        <identifiers>
          <isin value="US0605055914"/>
          <ticker value="BML J"/>
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        <balance>360761.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>7247688.49000000</valUSD>
        <pctVal>0.055339938413</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EP</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>
        
        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>AGNC INVESTMENT CORP</name>
        <lei>5TRACI5HRMELWV32OF39</lei>
        <title>AGNC INVESTMENT CORP DEPOSITARY SHARES, EACH REPRESENTING A 1/1,000TH FRACTIONAL INTEREST IN A SHARE OF 7.75% SERIES G FIXED-RATE RESET CUMULATIVE RED</title>
        <cusip>00123Q856</cusip>
        <identifiers>
          <isin value="US00123Q8565"/>
          <ticker value="AGNCL"/>
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        <balance>399469.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>10006698.45000000</valUSD>
        <pctVal>0.076406440027</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EP</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>
        
        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>US BANCORP</name>
        <lei>N1GZ7BBF3NP8GI976H15</lei>
        <title>US BANCORP DEPOSITARY SHARES EACH REPRESENTING A 1/1,000TH INTEREST IN A SHARE OF SERIES L NON-CUMULATIVE PERPETUAL PREFERRED STOCK</title>
        <cusip>902973734</cusip>
        <identifiers>
          <isin value="US9029737346"/>
          <ticker value="USB Q"/>
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        <balance>1314018.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>19171522.62000000</valUSD>
        <pctVal>0.146384724254</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EP</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>
        
        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>DIGITAL REALTY TRUST INC</name>
        <lei>549300HKCZ31D08NEI41</lei>
        <title>DIGITAL REALTY TRUST INC 5.25% SERIES J CUMULATIVE REDEEMABLE PREFERRED STOCK</title>
        <cusip>253868855</cusip>
        <identifiers>
          <isin value="US2538688555"/>
          <ticker value="DLR J"/>
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        <balance>532853.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>10646402.94000000</valUSD>
        <pctVal>0.081290922456</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EP</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>
        
        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <loanByFundCondition isLoanByFund="Y" loanVal="1238.76000000"/>
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      <invstOrSec>
        <name>PENNYMAC MORTGAGE INVESTMENT TRUST</name>
        <lei>549300BSSOQO1ZWDUJ97</lei>
        <title>PENNYMAC MORTGAGE INVESTMENT TRUST 8.00% SERIES B CUMULATIVE REDEEMABLE PREFERRED SHARES</title>
        <cusip>70931T400</cusip>
        <identifiers>
          <isin value="US70931T4004"/>
          <ticker value="PMT B"/>
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        <balance>519463.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>11552857.12000000</valUSD>
        <pctVal>0.088212179980</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EP</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>
        
        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>NATIONAL STORAGE AFFILIATES TRUST</name>
        <lei>529900FS06O8GOYNR108</lei>
        <title>NATIONAL STORAGE AFFILIATES TRUST 6.000% SERIES A CUMULATIVE REDEEMABLE PREFERRED SHARES OF BENEFICIAL INTEREST</title>
        <cusip>637870205</cusip>
        <identifiers>
          <isin value="US6378702053"/>
          <ticker value="NSA A"/>
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        <balance>596134.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>13311672.22000000</valUSD>
        <pctVal>0.101641664353</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EP</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>
        
        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>QWEST CORP</name>
        <lei>N/A</lei>
        <title>QWEST CORP 6.750% SENIOR NOTES DUE ON JUNE 15,2052 (DENOMINATIONS OF $25)</title>
        <cusip>74913G857</cusip>
        <identifiers>
          <isin value="US74913G8574"/>
          <ticker value="CTL"/>
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        <balance>1818042.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>31124879.04000000</valUSD>
        <pctVal>0.237654928407</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EP</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>
        
        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>GOLDMAN SACHS GROUP INC (THE)</name>
        <lei>784F5XWPLTWKTBV3E584</lei>
        <title>GOLDMAN SACHS GROUP INC (THE) 1/1000 INTEREST IN A SHARE OF FLOATING RATE NON-CUMULATIVE PREFERRED STOCK, SERIES C</title>
        <cusip>38144X609</cusip>
        <identifiers>
          <isin value="US38144X6094"/>
          <ticker value="GS C"/>
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        <balance>532853.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>10257420.25000000</valUSD>
        <pctVal>0.078320833697</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EP</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>
        
        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>PUBLIC STORAGE</name>
        <lei>254900GLQZAD4N7N5Q19</lei>
        <title>PUBLIC STORAGE DEPOSITARY SHARES EACH REPRESENTING 1/1000 OF A 5.05% CUMULATIVE PREFERRED SHARE OF BENEFICIAL INTEREST, SERIES G</title>
        <cusip>74460W669</cusip>
        <identifiers>
          <isin value="US74460W6690"/>
          <ticker value="PSA G"/>
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        <balance>790437.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>15429330.24000000</valUSD>
        <pctVal>0.117811104385</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EP</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>
        
        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
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      <invstOrSec>
        <name>STIFEL FINANCIAL CORP</name>
        <lei>549300E5F07FE5GHJX84</lei>
        <title>STIFEL FINANCIAL CORP 5.20% SENIOR NOTES DUE OCTOBER 2047</title>
        <cusip>860630607</cusip>
        <identifiers>
          <isin value="US8606306079"/>
          <ticker value="SFB"/>
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        <balance>599422.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>11970457.34000000</valUSD>
        <pctVal>0.091400778730</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EP</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>
        
        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>CMS ENERGY CORP</name>
        <lei>549300IA9XFBAGNIBW29</lei>
        <title>CMS ENERGY CORP 5.625% JUNIOR SUBORDINATED NOTES</title>
        <cusip>125896860</cusip>
        <identifiers>
          <isin value="US1258968601"/>
          <ticker value="CMSA"/>
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        <balance>526820.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>11005269.80000000</valUSD>
        <pctVal>0.084031060909</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EP</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>
        
        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>EIDP INC</name>
        <lei>GLU7INWNWH88J9XBXD45</lei>
        <title>EIDP INC $4.50 PREFERRED</title>
        <cusip>263534307</cusip>
        <identifiers>
          <isin value="US2635343070"/>
          <ticker value="CTA B"/>
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        <balance>109380.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>7307677.80000000</valUSD>
        <pctVal>0.055797988552</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EP</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>
        
        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>FIRST CITIZENS BANCSHARES INC</name>
        <lei>549300N3Z00ZHE2XC526</lei>
        <title>FIRST CITIZENS BANCSHARES INC DEPOSITARY SHARES, EACH REPRESENTING A 1/40TH INTEREST IN A SHARE OF 5.375% NON-CUMULATIVE PERPETUAL PREFERRED STOCK, SE</title>
        <cusip>319626305</cusip>
        <identifiers>
          <isin value="US3196263053"/>
          <ticker value="FCNCP"/>
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        <balance>914398.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>18214808.16000000</valUSD>
        <pctVal>0.139079702885</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EP</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>
        
        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>US BANCORP</name>
        <lei>N1GZ7BBF3NP8GI976H15</lei>
        <title>US BANCORP 1/1000TH OF SERIES B NON-CUMULATIVE PERPETUAL PREFERRED STOCK</title>
        <cusip>902973155</cusip>
        <identifiers>
          <isin value="US9029731554"/>
          <ticker value="USB H"/>
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        <balance>2664243.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>48942143.91000000</valUSD>
        <pctVal>0.373699177821</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EP</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>
        
        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>CTO REALTY GROWTH INC</name>
        <lei>254900ZQ99OFO1WXS678</lei>
        <title>CTO REALTY GROWTH INC 6.375% SERIES A CUMULATIVE REDEEMABLE PREFERRED STOCK</title>
        <cusip>22948Q200</cusip>
        <identifiers>
          <isin value="US22948Q2003"/>
          <ticker value="CTO A"/>
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        <balance>313859.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>6559653.10000000</valUSD>
        <pctVal>0.050086423977</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EP</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>
        
        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>CONNECTONE BANCORP INC</name>
        <lei>549300E2M5ZYAZKUK134</lei>
        <title>CONNECTONE BANCORP INC DEPOSITARY SHARES, EACH REPRESENTING A 1/40TH INTEREST IN A SHARE OF THE COMPANYS 5.25% FIXED-RATE RESET NON-CUMULATIVE PERPETU</title>
        <cusip>20786W503</cusip>
        <identifiers>
          <isin value="US20786W5031"/>
          <ticker value="CNOBP"/>
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        <balance>300966.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>7479005.10000000</valUSD>
        <pctVal>0.057106163185</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EP</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>
        
        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>FIRST HORIZON CORP</name>
        <lei>TF3RXI1ZB1TQ30H9JV10</lei>
        <title>FIRST HORIZON CORP DEPOSITARY SHARES EACH REPRESENTING A 1/4,000TH OWNERSHIP INTEREST IN A SHARE OF NON-CUMULATIVE PERPETUAL PREFERRED STOCK, SERIES F</title>
        <cusip>320517865</cusip>
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        <fairValLevel>1</fairValLevel>
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        <name>XCEL ENERGY INC</name>
        <lei>LGJNMI9GH8XIDG5RCM61</lei>
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        <cusip>98389B878</cusip>
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        <fairValLevel>1</fairValLevel>
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        <name>F&amp;G ANNUITIES &amp; LIFE INC</name>
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        <title>F&amp;G ANNUITIES &amp; LIFE INC 7.95% SENIOR NOTES DUE 12/15/2053</title>
        <cusip>30190A203</cusip>
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          <ticker value="FGN"/>
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        <fairValLevel>1</fairValLevel>
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        <name>TENNESSEE VALLEY AUTHORITY (TN)</name>
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        <invCountry>US</invCountry>
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        <fairValLevel>1</fairValLevel>
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        <name>UNUM GROUP</name>
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          <isin value="US91529Y6014"/>
          <ticker value="UNMA"/>
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        <assetCat>EP</assetCat>
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        <invCountry>US</invCountry>
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        <fairValLevel>1</fairValLevel>
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        <name>PRUDENTIAL FINANCIAL INC</name>
        <lei>5PRBRS5FEH7NREC8OR45</lei>
        <title>PRUDENTIAL FINANCIAL INC 4.125% JUNIOR SUBORDINATED NOTES DUE SEPTEMBER 01, 2060</title>
        <cusip>744320888</cusip>
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          <ticker value="PFH"/>
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        <fairValLevel>1</fairValLevel>
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        <name>PUBLIC STORAGE</name>
        <lei>254900GLQZAD4N7N5Q19</lei>
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        <cusip>74460W461</cusip>
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          <ticker value="PSA P"/>
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        <valUSD>24514594.70000000</valUSD>
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        <assetCat>EP</assetCat>
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        <fairValLevel>1</fairValLevel>
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        <name>CHS INC</name>
        <lei>XEIEFTLYDQ1MZ6TZV015</lei>
        <title>CHS INC CLASS B RESET RATE CUMULATIVE REDEEMABLE PREFERRED STOCK, SERIES 2</title>
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        <fairValLevel>1</fairValLevel>
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        <name>WELLS FARGO &amp; COMPANY</name>
        <lei>PBLD0EJDB5FWOLXP3B76</lei>
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        <fairValLevel>1</fairValLevel>
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        <name>ARBOR REALTY TRUST INC</name>
        <lei>549300ASFUWYQO0RW077</lei>
        <title>ARBOR REALTY TRUST INC 6.25% SERIES E CUMULATIVE REDEEMABLE PREFERRED STOCK</title>
        <cusip>038923868</cusip>
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          <ticker value="ABR E"/>
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        <valUSD>6114010.70000000</valUSD>
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        <fairValLevel>1</fairValLevel>
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        <name>BANK OF AMERICA CORP</name>
        <lei>9DJT3UXIJIZJI4WXO774</lei>
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        <fairValLevel>1</fairValLevel>
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        <name>RITHM CAPITAL CORP</name>
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        <name>KEYCORP</name>
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        <name>RITHM CAPITAL CORP</name>
        <lei>549300WNTHGEO5LP2G31</lei>
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        <fairValLevel>1</fairValLevel>
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        <name>DTE ENERGY COMPANY</name>
        <lei>549300IX8SD6XXD71I78</lei>
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        <name>T-MOBILE USA INC</name>
        <lei>549300V2JRLO5DIFGE82</lei>
        <title>T-MOBILE USA INC 5.500% SENIOR NOTES DUE ON JUNE 1, 2070</title>
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        <name>ASPEN INSURANCE HOLDINGS LTD</name>
        <lei>549300YX6HECG9XQCQ75</lei>
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        <name>PUBLIC STORAGE</name>
        <lei>254900GLQZAD4N7N5Q19</lei>
        <title>PUBLIC STORAGE DEPOSITARY SHARES EACH REPRESENTING 1/1000 OF A 4.125% CUMULATIVE PREFERRED SHARE OF BENEFICIAL INTEREST, SERIES M</title>
        <cusip>74460W537</cusip>
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          <ticker value="PSA M"/>
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        <name>HUDSON PACIFIC PROPERTIES INC</name>
        <lei>529900EURZA5HRSXQ389</lei>
        <title>HUDSON PACIFIC PROPERTIES INC 4.750% SERIES C CUMULATIVE REDEEMABLE PREFERRED STOCK</title>
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          <ticker value="HPP C"/>
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        <name>SUNSTONE HOTEL INVESTORS INC</name>
        <lei>529900ZQ2V52V96ATF67</lei>
        <title>SUNSTONE HOTEL INVESTORS INC 6.125% SERIES H CUMULATIVE REDEEMABLE PREFERRED STOCK</title>
        <cusip>867892804</cusip>
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          <isin value="US8678928040"/>
          <ticker value="SHO H"/>
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        <curCd>USD</curCd>
        <valUSD>6501618.75000000</valUSD>
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        <assetCat>EP</assetCat>
        <issuerCat>CORP</issuerCat>
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        <isRestrictedSec>N</isRestrictedSec>
        
        <fairValLevel>1</fairValLevel>
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        <name>BANK OF AMERICA CORP</name>
        <lei>9DJT3UXIJIZJI4WXO774</lei>
        <title>BANK OF AMERICA CORP DEPOSITARY SHARES EACH REPRESENTING A 1/1200TH INTEREST IN A SHARE OF FLOATING RATE NON-CUMULATIVE PREFERRED STOCK, SERIES 5</title>
        <cusip>060505583</cusip>
        <identifiers>
          <isin value="US0605055831"/>
          <ticker value="BML L"/>
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        <balance>717637.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>13678161.22000000</valUSD>
        <pctVal>0.104440001880</pctVal>
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        <assetCat>EP</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>
        
        <fairValLevel>1</fairValLevel>
        <securityLending>
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          <isNonCashCollateral>N</isNonCashCollateral>
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      <invstOrSec>
        <name>HEWLETT PACKARD ENTERPRISE COMPANY</name>
        <lei>549300BX44RGX6ANDV88</lei>
        <title>HEWLETT PACKARD ENTERPRISE COMPANY 7.625% SERIES C MANDATORY CONVERTIBLE PREFERRED STOCK</title>
        <cusip>42824C208</cusip>
        <identifiers>
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        <fairValLevel>1</fairValLevel>
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        <name>VORNADO REALTY TRUST</name>
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        <cusip>929042828</cusip>
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        <fairValLevel>1</fairValLevel>
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      <invstOrSec>
        <name>JP MORGAN CHASE &amp; COMPANY</name>
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        <cusip>48128B580</cusip>
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        <valUSD>73250422.03000000</valUSD>
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        <fairValLevel>1</fairValLevel>
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        <name>DTE ENERGY COMPANY</name>
        <lei>549300IX8SD6XXD71I78</lei>
        <title>DTE ENERGY COMPANY JUNIOR SUBORDINATED DEBENTURES</title>
        <cusip>233331859</cusip>
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          <isin value="US2333318598"/>
          <ticker value="DTW"/>
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        <valUSD>21564261.32000000</valUSD>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>EP</assetCat>
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        <invCountry>US</invCountry>
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        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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        <name>NEXTERA ENERGY CAPITAL HOLDINGS INC</name>
        <lei>UMI46YPGBLUE4VGNNT48</lei>
        <title>NEXTERA ENERGY CAPITAL HOLDINGS INC PUBLIC OFFERING OF 60NC5 FIXED-FOR-LIFE JUNIOR SUBORDINATED DEBENTURES DUE 15-APR-2086</title>
        <cusip>65339K829</cusip>
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          <isin value="US65339K8291"/>
          <ticker value="NEE W"/>
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        <balance>1587773.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>39726080.46000000</valUSD>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>EP</assetCat>
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        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>
        
        <fairValLevel>1</fairValLevel>
        <securityLending>
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        <name>TPG OPERATING GROUP II LP</name>
        <lei>2549001H9RJQNZT7MU11</lei>
        <title>TPG OPERATING GROUP II LP FIXED-RATE JUNIOR SUBORDINATED NOTES DUE ON MARCH 15, 2064</title>
        <cusip>872652102</cusip>
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          <ticker value="TPGXL"/>
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        <balance>1059990.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>24814365.90000000</valUSD>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>EP</assetCat>
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        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>
        
        <fairValLevel>1</fairValLevel>
        <securityLending>
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        <name>PROSPECT CAPITAL CORP</name>
        <lei>549300FSD8T39P5Q0O47</lei>
        <title>PROSPECT CAPITAL CORP 5.35% SERIES A FIXED RATE CUMULATIVE PERPETUAL PREFERRED STOCK</title>
        <cusip>74348T565</cusip>
        <identifiers>
          <isin value="US74348T5653"/>
          <ticker value="PSEC A"/>
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        <balance>341830.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>5609430.30000000</valUSD>
        <pctVal>0.042830969869</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EP</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>
        
        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>HUNTINGTON BANCSHARES INC</name>
        <lei>549300XTVCVV9I7B5T19</lei>
        <title>HUNTINGTON BANCSHARES INC DEPOSITARY SHARES, EACH REPRESENTING A 1/40TH INTEREST IN A SHARE OF 4.500% SERIES H NON-CUMULATIVE PERPETUAL PREFERRED STOC</title>
        <cusip>446150823</cusip>
        <identifiers>
          <isin value="US4461508230"/>
          <ticker value="HBANP"/>
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        <balance>1321074.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>21665613.60000000</valUSD>
        <pctVal>0.165428429212</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EP</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>
        
        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>REGIONS FINANCIAL CORP</name>
        <lei>CW05CS5KW59QTC0DG824</lei>
        <title>REGIONS FINANCIAL CORP DEPOSITARY SHARES EACH REPRESENTING A 1/40TH INTEREST IN A SHARE OFNON-CUMULATIVE PERPETUAL PREFERRED STOCK, SERIES F</title>
        <cusip>7591EP860</cusip>
        <identifiers>
          <isin value="US7591EP8604"/>
          <ticker value="RF F"/>
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        <balance>1328528.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>33518761.44000000</valUSD>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>EP</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>
        
        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>AFFILIATED MANAGERS GROUP INC</name>
        <lei>2JE75BUE3T1BLCYYGK54</lei>
        <title>AFFILIATED MANAGERS GROUP INC 4.200% JUNIOR SUBORDINATED NOTES DUE SEPTEMBER 30, 2061</title>
        <cusip>008252835</cusip>
        <identifiers>
          <isin value="US0082528359"/>
          <ticker value="MGRD"/>
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        <balance>523919.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>7575868.74000000</valUSD>
        <pctVal>0.057845768355</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EP</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>
        
        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>STATE STREET CORP</name>
        <lei>549300ZFEEJ2IP5VME73</lei>
        <title>STATE STREET CORP DEPOSITARY SHARES, EACH REPRESENTING A 1/4,000TH OWNERSHIP INTEREST IN A SHARE OF FIXED-TO-FLOATING RATE NON-CUMULATIVE PERPETUAL PR</title>
        <cusip>857477855</cusip>
        <identifiers>
          <isin value="US8574778556"/>
          <ticker value="STT G"/>
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        <balance>1332092.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>28626657.08000000</valUSD>
        <pctVal>0.218579681230</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EP</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>
        
        <fairValLevel>1</fairValLevel>
        <securityLending>
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          <isNonCashCollateral>N</isNonCashCollateral>
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      <invstOrSec>
        <name>ALLSTATE CORP (THE)</name>
        <lei>OBT0W1ED8G0NWVOLOJ77</lei>
        <title>ALLSTATE CORP (THE) 5.100% FIXED-TO-FLOATING RATE SUBORDINATED DEBENTURES DUE 2053</title>
        <cusip>020002309</cusip>
        <identifiers>
          <isin value="US0200023093"/>
          <ticker value="ALL B"/>
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        <balance>1325222.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>34137718.72000000</valUSD>
        <pctVal>0.260659554305</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EP</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>
        
        <fairValLevel>1</fairValLevel>
        <securityLending>
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          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>WHIRLPOOL CORP</name>
        <lei>WHENKOULSSK7WUM60H03</lei>
        <title>WHIRLPOOL CORP DEPOSITARY SHARES EACH REPRESENTING A 1/20TH INTEREST IN A SHARE OF 8.50% SERIES A MANDATORY CONVERTIBLE PREFERRED STOCK</title>
        <cusip>963320205</cusip>
        <identifiers>
          <isin value="US9633202059"/>
          <ticker value="WHRPA"/>
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        <balance>765308.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>26877616.96000000</valUSD>
        <pctVal>0.205224834004</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EP</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>
        
        <fairValLevel>2</fairValLevel>
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          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>NORTHERN TRUST CORP</name>
        <lei>549300GLF98S992BC502</lei>
        <title>NORTHERN TRUST CORP DEPOSITARY SHARES EACH REPRESENTING A 1/1,000TH INTEREST IN A SHARE OF SERIES E NON-CUMULATIVE PERPETUAL PREFERRED STOCK</title>
        <cusip>665859856</cusip>
        <identifiers>
          <isin value="US6658598569"/>
          <ticker value="NTRSO"/>
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        <balance>1065724.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>20003639.48000000</valUSD>
        <pctVal>0.152738376987</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EP</assetCat>
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        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>
        
        <fairValLevel>1</fairValLevel>
        <securityLending>
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          <isNonCashCollateral>N</isNonCashCollateral>
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        <name>PUBLIC STORAGE</name>
        <lei>254900GLQZAD4N7N5Q19</lei>
        <title>PUBLIC STORAGE DEPOSITARY SHARES EACH REPRESENTING 1/1000 OF A 3.950% CUMULATIVE PREFERRED SHARE OF BENEFICIAL INTEREST, SERIES Q</title>
        <cusip>74460W446</cusip>
        <identifiers>
          <isin value="US74460W4463"/>
          <ticker value="PSA Q"/>
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        <balance>368412.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>5614598.88000000</valUSD>
        <pctVal>0.042870434713</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EP</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>
        
        <fairValLevel>1</fairValLevel>
        <securityLending>
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          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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        <name>DYNEX CAPITAL INC (NEW)</name>
        <lei>5CIJ4S9HAEBWILA19B65</lei>
        <title>DYNEX CAPITAL INC (NEW) 6.900% SERIES C FIXED-TO-FLOATING RATE CUMULATIVE REDEEMABLE PREFERRED STOCK</title>
        <cusip>26817Q878</cusip>
        <identifiers>
          <isin value="US26817Q8785"/>
          <ticker value="DX C"/>
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        <balance>296978.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>7679851.08000000</valUSD>
        <pctVal>0.058639728567</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EP</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>
        
        <fairValLevel>1</fairValLevel>
        <securityLending>
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          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>REGIONS FINANCIAL CORP</name>
        <lei>CW05CS5KW59QTC0DG824</lei>
        <title>REGIONS FINANCIAL CORP DEPOSITARY SHARES EACH REPRESENTING A 1/40TH INTEREST IN A SHARE OF 5.700% FIXED-TO-FLOATING RATE NON-CUMULATIVE PERPETUAL PREF</title>
        <cusip>7591EP704</cusip>
        <identifiers>
          <isin value="US7591EP7044"/>
          <ticker value="RF C"/>
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        <balance>1328275.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>32476323.75000000</valUSD>
        <pctVal>0.247973924198</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EP</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>
        
        <fairValLevel>1</fairValLevel>
        <securityLending>
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          <isNonCashCollateral>N</isNonCashCollateral>
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      <invstOrSec>
        <name>KKR REAL ESTATE FINANCE TRUST INC</name>
        <lei>549300K23AYZDZ2REL62</lei>
        <title>KKR REAL ESTATE FINANCE TRUST INC 6.50% SERIES A CUMULATIVE REDEEMABLE PREFERRED STOCK</title>
        <cusip>48251K209</cusip>
        <identifiers>
          <isin value="US48251K2096"/>
          <ticker value="KREF A"/>
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        <balance>873077.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>15470924.44000000</valUSD>
        <pctVal>0.118128698121</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EP</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>
        
        <fairValLevel>1</fairValLevel>
        <securityLending>
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          <isNonCashCollateral>N</isNonCashCollateral>
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        <name>BANK OF AMERICA CORP</name>
        <lei>9DJT3UXIJIZJI4WXO774</lei>
        <title>BANK OF AMERICA CORP DEPOSITARY SHARES, EACH REPRESENTING A 1/1,000TH INTEREST IN A SHARE OF BANK OF AMERICA CORPORATION 4.125% NON-CUMULATIVE PREFERR</title>
        <cusip>06055H608</cusip>
        <identifiers>
          <isin value="US06055H6080"/>
          <ticker value="BAC P"/>
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        <balance>1706546.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>28687038.26000000</valUSD>
        <pctVal>0.219040723504</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EP</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>
        
        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>PUBLIC STORAGE</name>
        <lei>254900GLQZAD4N7N5Q19</lei>
        <title>PUBLIC STORAGE DEPOSITARY SHARES EACH REPRESENTING 1/1000 OF A 4.75% CUMULATIVE PREFERRED SHARE OF BENEFICIAL INTEREST SERIES K</title>
        <cusip>74460W578</cusip>
        <identifiers>
          <isin value="US74460W5783"/>
          <ticker value="PSA K"/>
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        <balance>596227.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>10964614.53000000</valUSD>
        <pctVal>0.083720636401</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EP</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>
        
        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>BANC OF CALIFORNIA INC</name>
        <lei>549300ZKWUJDP6LJ1X87</lei>
        <title>BANC OF CALIFORNIA INC DEPOSITARY SHARES EACH REPRESENTING A 1/40TH INTEREST IN A SHARE OF 7.75% NON CUMULATIVE PERPETUAL PREFERRED STOCK SERIES F</title>
        <cusip>05990K841</cusip>
        <identifiers>
          <isin value="US05990K8412"/>
          <ticker value="BANC F"/>
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        <balance>1379494.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>34597709.52000000</valUSD>
        <pctVal>0.264171827574</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EP</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>
        
        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>CHARLES SCHWAB CORP (THE)</name>
        <lei>549300VSGCJ7E698NM85</lei>
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        <fairValLevel>1</fairValLevel>
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        <name>MICROCHIP TECHNOLOGY INC</name>
        <lei>5493007PTFULNYZJ1R12</lei>
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        <cusip>595017302</cusip>
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        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
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        <name>DUKE ENERGY CORP</name>
        <lei>I1BZKREC126H0VB1BL91</lei>
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        <fairValLevel>1</fairValLevel>
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        <name>SL GREEN REALTY CORP</name>
        <lei>549300VQZPJU97H3GT17</lei>
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          <ticker value="SLG I"/>
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        <invCountry>US</invCountry>
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        <fairValLevel>1</fairValLevel>
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        <name>TPG RE FINANCE TRUST INC</name>
        <lei>N/A</lei>
        <title>TPG RE FINANCE TRUST INC 6.25% SERIES C CUMULATIVE REDEEMABLE PREFERRED STOCK</title>
        <cusip>87266M206</cusip>
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          <ticker value="TRTX C"/>
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        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>
        
        <fairValLevel>1</fairValLevel>
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        <name>BRUNSWICK CORP</name>
        <lei>YM4O38W15AX4YLLQKU27</lei>
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        <cusip>117043604</cusip>
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          <ticker value="BC C"/>
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        <valUSD>13786702.20000000</valUSD>
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        <assetCat>EP</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>
        
        <fairValLevel>1</fairValLevel>
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        <name>VALLEY NATIONAL BANCORP</name>
        <lei>549300ET52S1UBIB9762</lei>
        <title>VALLEY NATIONAL BANCORP 8.250% FIXED-RATE RESET NON-CUMULATIVE PERPETUAL PREFERRED STOCK SERIES C</title>
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          <ticker value="VLYPN"/>
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        <valUSD>10018217.20000000</valUSD>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>EP</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>
        
        <fairValLevel>1</fairValLevel>
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        <name>MORGAN STANLEY</name>
        <lei>IGJSJL3JD5P30I6NJZ34</lei>
        <title>MORGAN STANLEY DEPOSITARY SHARES, EACH REPRESENTING 1/1,000TH OWNERSHIP INTEREST IN A SHARE OF 6.500% NON-CUMULATIVE PREFERRED STOCK, SERIES P</title>
        <cusip>61762V853</cusip>
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          <isin value="US61762V8533"/>
          <ticker value="MS P"/>
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        <curCd>USD</curCd>
        <valUSD>66711835.74000000</valUSD>
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        <assetCat>EP</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
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        <fairValLevel>1</fairValLevel>
        <securityLending>
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        <name>APOLLO GLOBAL MANAGEMENT INC</name>
        <lei>254900LMFT1CY9IYB476</lei>
        <title>APOLLO GLOBAL MANAGEMENT INC FIXED-RATE RESETTABLE JUNIOR SUBORDINATED NOTES DUE 9/15/2053</title>
        <cusip>03769M205</cusip>
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          <isin value="US03769M2052"/>
          <ticker value="APOS"/>
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        <curCd>USD</curCd>
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        <assetCat>EP</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>
        
        <fairValLevel>1</fairValLevel>
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          <isNonCashCollateral>N</isNonCashCollateral>
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        <name>BANK OF AMERICA CORP</name>
        <lei>9DJT3UXIJIZJI4WXO774</lei>
        <title>BANK OF AMERICA CORP 6.45% FIXED/FLOAT JUNIOR SUBORDINATED NOTES DUE 2066.</title>
        <cusip>060505179</cusip>
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          <isin value="US0605051798"/>
          <ticker value="MER K"/>
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        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>52158734.08000000</valUSD>
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        <assetCat>EP</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>
        
        <fairValLevel>1</fairValLevel>
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        <name>ARRAY DIGITAL INFRASTRUCTURE INC</name>
        <lei>549300B164AZXESI6E03</lei>
        <title>ARRAY DIGITAL INFRASTRUCTURE INC 5.500% SENIOR NOTES DUE JUNE 1, 2070</title>
        <cusip>911684884</cusip>
        <identifiers>
          <isin value="US9116848840"/>
          <ticker value="UZF"/>
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        <curCd>USD</curCd>
        <valUSD>4527826.16000000</valUSD>
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        <assetCat>EP</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>
        
        <fairValLevel>1</fairValLevel>
        <securityLending>
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          <isLoanByFund>N</isLoanByFund>
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        <name>VOYA FINANCIAL INC</name>
        <lei>549300T065Z4KJ686G75</lei>
        <title>VOYA FINANCIAL INC DEP SHS REP 1/40TH NON CUM</title>
        <cusip>929089209</cusip>
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          <isin value="US9290892093"/>
          <ticker value="VOYA B"/>
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        <curCd>USD</curCd>
        <valUSD>18502965.18000000</valUSD>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>EP</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>
        
        <fairValLevel>1</fairValLevel>
        <securityLending>
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        <name>M&amp;T BANK CORP</name>
        <lei>549300WYXDDBYRASEG81</lei>
        <title>M&amp;T BANK CORP DEPOSITARY SHARES EACH REPRESENTING A 1/400TH INTEREST IN A SHARE OF PERPETUAL 6.350% NON-CUMULATIVE PREFERRED STOCK, SERIES K</title>
        <cusip>55261F849</cusip>
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          <ticker value="MTB K"/>
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        <curCd>USD</curCd>
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        <assetCat>EP</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
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        <fairValLevel>1</fairValLevel>
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        <name>SELECTIVE INSURANCE GROUP INC</name>
        <lei>549300R3WGJWLE40R258</lei>
        <title>SELECTIVE INSURANCE GROUP INC DEPOSITARY SHARES, EACH REPRESENTING A 1/1,000TH INTEREST IN A SHARE OF 4.60% NON-CUMULATIVE PREFERRED STOCK, SERIES B</title>
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          <isin value="US8163005031"/>
          <ticker value="SIGIP"/>
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        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>8270028.48000000</valUSD>
        <pctVal>0.063146045445</pctVal>
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        <assetCat>EP</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>
        
        <fairValLevel>1</fairValLevel>
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        <name>AMERICAN HOMES 4 RENT</name>
        <lei>549300ZJUO7A58PNUW40</lei>
        <title>AMERICAN HOMES 4 RENT 6.25% CUM RED PFD SER H</title>
        <cusip>02665T868</cusip>
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          <isin value="US02665T8687"/>
          <ticker value="AMH H"/>
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        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>7124607.78000000</valUSD>
        <pctVal>0.054400152036</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EP</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>
        
        <fairValLevel>1</fairValLevel>
        <securityLending>
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        <name>TELEPHONE &amp; DATA SYSTEMS INC</name>
        <lei>5299003YZW5BE2NNLO37</lei>
        <title>TELEPHONE &amp; DATA SYSTEMS INC DEPOSITARY SHARES EACH REPRESENTING A 1/1,000 INTEREST IN A SHARE OF TELEPHONE AND DATA SYSTEMS, INC.S 6.000% SERIES VV C</title>
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          <ticker value="TDS V"/>
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        <curCd>USD</curCd>
        <valUSD>33936000.70000000</valUSD>
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        <assetCat>EP</assetCat>
        <issuerCat>CORP</issuerCat>
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        <fairValLevel>1</fairValLevel>
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        <name>ARCH CAPITAL GROUP LTD</name>
        <lei>549300AYR4P8AFKDCE43</lei>
        <title>ARCH CAPITAL GROUP LTD DEPOSITARY SHARES EACH REPRESENTING 1/1,000 TH INTEREST IN A SHARE OF5.45 % NON-CUMULATIVE PREFERRED SHARES, SERIES F</title>
        <cusip>03939A107</cusip>
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          <ticker value="ACGLO"/>
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        <curCd>USD</curCd>
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        <assetCat>EP</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>BM</invCountry>
        
        <isRestrictedSec>N</isRestrictedSec>
        
        <fairValLevel>1</fairValLevel>
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        <name>ADAMAS TRUST INC</name>
        <lei>549300JFGR0M7ULHWG48</lei>
        <title>ADAMAS TRUST INC 6.875% SERIES F FIXED-TO-FLOATING RATE CUMULATIVE REDEEMABLE PREFERRED STOCK</title>
        <cusip>649604865</cusip>
        <identifiers>
          <isin value="US6496048652"/>
          <ticker value="ADAML"/>
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        <balance>386559.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>9401114.88000000</valUSD>
        <pctVal>0.071782488885</pctVal>
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        <assetCat>EP</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>
        
        <fairValLevel>1</fairValLevel>
        <securityLending>
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          <isNonCashCollateral>N</isNonCashCollateral>
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        <name>BROOKFIELD FINANCE I (UK) PLC</name>
        <lei>213800JCKNPJE9FDCJ76</lei>
        <title>BROOKFIELD FINANCE I (UK) PLC 4.50% PERPETUAL SUBORDINATED NOTES</title>
        <cusip>11272B103</cusip>
        <identifiers>
          <isin value="US11272B1035"/>
          <ticker value="BNJ"/>
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        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>8990201.43000000</valUSD>
        <pctVal>0.068644947164</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EP</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>GB</invCountry>
        
        <isRestrictedSec>N</isRestrictedSec>
        
        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>NEW MOUNTAIN FINANCE CORP</name>
        <lei>N/A</lei>
        <title>NEW MOUNTAIN FINANCE CORP 8.250% SENIOR UNSECURED NOTES DUE NOVEMBER 15, 2028</title>
        <cusip>647551308</cusip>
        <identifiers>
          <isin value="US6475513080"/>
          <ticker value="NMFCZ"/>
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        <balance>301055.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>7616691.50000000</valUSD>
        <pctVal>0.058157471738</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EP</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>
        
        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>SOUTHERN COMPANY (THE)</name>
        <lei>549300FC3G3YU2FBZD92</lei>
        <title>SOUTHERN COMPANY (THE) 4.95% JUNIOR SUBORDINATED NOTES DUE JANUARY 30, 2080</title>
        <cusip>842587800</cusip>
        <identifiers>
          <isin value="US8425878001"/>
          <ticker value="SOJD"/>
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        <balance>2653679.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>51056783.96000000</valUSD>
        <pctVal>0.389845574054</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EP</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>
        
        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>ADAMAS TRUST INC</name>
        <lei>549300JFGR0M7ULHWG48</lei>
        <title>ADAMAS TRUST INC 8.00% SERIES D FIXED-TO-FLOATING RATE CUMULATIVE REDEEMABLE PREFERRED STOCK</title>
        <cusip>649604881</cusip>
        <identifiers>
          <isin value="US6496048819"/>
          <ticker value="ADAMN"/>
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        <balance>409312.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>9586087.04000000</valUSD>
        <pctVal>0.073194849248</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EP</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>
        
        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>MORGAN STANLEY</name>
        <lei>IGJSJL3JD5P30I6NJZ34</lei>
        <title>MORGAN STANLEY DEPOSITARY SHARES EACH REPRESENTING 1/1,000 TH OF A SHARE OF FIXED-TO-FLOATING RATE NON-CUMULATIVE PREFERRED STOCK, SERIES E</title>
        <cusip>61762V200</cusip>
        <identifiers>
          <isin value="US61762V2007"/>
          <ticker value="MS E"/>
        </identifiers>
        <balance>2279912.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>57499380.64000000</valUSD>
        <pctVal>0.439038210297</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EP</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>
        
        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>EPR PROPERTIES</name>
        <lei>549300YSSXFHMPOWZ492</lei>
        <title>EPR PROPERTIES 5.75% SERIES C CUMULATIVE CONVERTIBLE PREFERRED SHARES</title>
        <cusip>26884U208</cusip>
        <identifiers>
          <isin value="US26884U2087"/>
          <ticker value="EPRPC"/>
        </identifiers>
        <balance>359169.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>9201909.78000000</valUSD>
        <pctVal>0.070261452491</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EP</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>
        
        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>BANK OF AMERICA CORP</name>
        <lei>9DJT3UXIJIZJI4WXO774</lei>
        <title>BANK OF AMERICA CORP DEP SHS REP 1/1200TH PRF SE</title>
        <cusip>060505625</cusip>
        <identifiers>
          <isin value="US0605056250"/>
          <ticker value="BML H"/>
        </identifiers>
        <balance>528050.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>9768925.00000000</valUSD>
        <pctVal>0.074590913863</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EP</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>
        
        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>BANK OZK</name>
        <lei>549300VYK2WBD7SST478</lei>
        <title>BANK OZK 4.625% SERIES A NON-CUMULATIVE PERPETUAL PREFERRED STOCK</title>
        <cusip>06417N202</cusip>
        <identifiers>
          <isin value="US06417N2027"/>
          <ticker value="OZKAP"/>
        </identifiers>
        <balance>951046.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>15121631.40000000</valUSD>
        <pctVal>0.115461660851</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EP</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>
        
        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>TRUIST FINANCIAL CORP</name>
        <lei>549300DRQQI75D2JP341</lei>
        <title>TRUIST FINANCIAL CORP DEPOSITARY SHARES, EACH REPRESENTING A 1/1,000TH INTEREST IN A SHARE OF SERIES O NON-CUMULATIVE PERPETUAL PREFERRED STOCK</title>
        <cusip>89832Q745</cusip>
        <identifiers>
          <isin value="US89832Q7455"/>
          <ticker value="TFC O"/>
        </identifiers>
        <balance>1527540.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>31345120.80000000</valUSD>
        <pctVal>0.239336590836</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EP</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>
        
        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>READY CAPITAL CORP</name>
        <lei>549300MYWGZUG7ZUYO87</lei>
        <title>READY CAPITAL CORP 6.50% SERIES E CUMULATIVE REDEEMABLE PREFERRED STOCK</title>
        <cusip>75574U887</cusip>
        <identifiers>
          <isin value="US75574U8870"/>
          <ticker value="RC E"/>
        </identifiers>
        <balance>306265.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>3583300.50000000</valUSD>
        <pctVal>0.027360396250</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EP</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>
        
        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>ANNALY CAPITAL MANAGEMENT INC</name>
        <lei>2DTL0G3FPRYUT58TI025</lei>
        <title>ANNALY CAPITAL MANAGEMENT INC 6.50% SERIES G FIXED-TO-FLOATING RATE CUMULATIVE REDEEMABLE PREFERRED STOCK</title>
        <cusip>035710862</cusip>
        <identifiers>
          <isin value="US0357108622"/>
          <ticker value="NLY G"/>
        </identifiers>
        <balance>1132225.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>27864057.25000000</valUSD>
        <pctVal>0.212756827821</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EP</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>
        
        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>SEAPEAK LLC</name>
        <lei>549300CP38L0UER0I397</lei>
        <title>SEAPEAK LLC 9.00% SERIES A CUMULATIVE REDEEMABLE PERPETUAL PREFERRED UNITS</title>
        <cusip>000000000</cusip>
        <identifiers>
          <isin value="MHY8564M1131"/>
          <ticker value="SEAL A"/>
          <other otherDesc="SEDOL" value="BZ0BDR5"/>
        </identifiers>
        <balance>328591.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>8280493.20000000</valUSD>
        <pctVal>0.063225949122</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EP</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>MH</invCountry>
        
        <isRestrictedSec>N</isRestrictedSec>
        
        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>CULLEN/FROST BANKERS INC</name>
        <lei>529900V2E9G9AY665O34</lei>
        <title>CULLEN/FROST BANKERS INC DEPOSITARY SHARES EACH REPRESENTING A 1/40TH INTEREST IN A SHARE OF 4.450% NON-CUMULATIVE PERPETUAL PREFERRED STOCK, SERIES B</title>
        <cusip>229899307</cusip>
        <identifiers>
          <isin value="US2298993070"/>
          <ticker value="CFR B"/>
        </identifiers>
        <balance>399469.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>6567270.36000000</valUSD>
        <pctVal>0.050144585790</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EP</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>
        
        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>COMPASS DIVERSIFIED HOLDINGS</name>
        <lei>5299001SM1LBYANJRR58</lei>
        <title>COMPASS DIVERSIFIED HOLDINGS 7.875% EACH SERIES C CUMULATIVE PREFERRED SHARE REPRESENTS ONE CORRESPONDING BENEFICIAL INTEREST</title>
        <cusip>20451Q401</cusip>
        <identifiers>
          <isin value="US20451Q4010"/>
          <ticker value="CODI C"/>
        </identifiers>
        <balance>520502.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>11471864.08000000</valUSD>
        <pctVal>0.087593755244</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EP</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>
        
        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>ASSOCIATED BANC-CORP</name>
        <lei>549300N3CIN473IW5094</lei>
        <title>ASSOCIATED BANC-CORP DEP SHS REP 1/40TH INT SHS 5.875% NON CUM PER PFD SER E</title>
        <cusip>045487204</cusip>
        <identifiers>
          <isin value="US0454872047"/>
          <ticker value="ASB E"/>
        </identifiers>
        <balance>266427.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>5341861.35000000</valUSD>
        <pctVal>0.040787939290</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EP</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>
        
        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>TWO HARBORS INVESTMENTS CORP</name>
        <lei>549300ZUIBT6KH4HU823</lei>
        <title>TWO HARBORS INVESTMENTS CORP SER C FIXED TO FLOATING RATE CUMULATIVE REDEEMABLE PREFERRED STOCK</title>
        <cusip>90187B507</cusip>
        <identifiers>
          <isin value="US90187B5075"/>
          <ticker value="TWO C"/>
        </identifiers>
        <balance>643457.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>16054252.15000000</valUSD>
        <pctVal>0.122582713990</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EP</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>
        
        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>AMERICAN FINANCIAL GROUP INC</name>
        <lei>549300AFOM7IVKIU1G39</lei>
        <title>AMERICAN FINANCIAL GROUP INC 5.875% SUBORDINATED DEBENTURES DUE MARCH 30,2059</title>
        <cusip>025932807</cusip>
        <identifiers>
          <isin value="US0259328070"/>
          <ticker value="AFGB"/>
        </identifiers>
        <balance>326702.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>6602647.42000000</valUSD>
        <pctVal>0.050414708371</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EP</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>
        
        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>PUBLIC STORAGE</name>
        <lei>254900GLQZAD4N7N5Q19</lei>
        <title>PUBLIC STORAGE DEPOSITARY SHARES EACH REPRESENTING 1/1000 OF A 4.00% CUMULATIVE PREFERRED SHARE OF BENEFICIAL INTEREST, SERIES R</title>
        <cusip>74460W420</cusip>
        <identifiers>
          <isin value="US74460W4208"/>
          <ticker value="PSA R"/>
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        <balance>1147335.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>17600118.90000000</valUSD>
        <pctVal>0.134386224979</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EP</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>
        
        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>BANK OF AMERICA CORP</name>
        <lei>9DJT3UXIJIZJI4WXO774</lei>
        <title>BANK OF AMERICA CORP 1/1,000TH INTEREST IN A SHARE OF BANK OF AMERICA CORPORATION 6.000% NON-CUMULATIVE PREFERRED STOCK, SERIES GG</title>
        <cusip>060505229</cusip>
        <identifiers>
          <isin value="US0605052291"/>
          <ticker value="BAC B"/>
        </identifiers>
        <balance>2648707.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>66244162.07000000</valUSD>
        <pctVal>0.505809245842</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EP</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>
        
        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>WESTERN ALLIANCE BANCORP</name>
        <lei>5493003VJXZ5JXT9S762</lei>
        <title>WESTERN ALLIANCE BANCORP DEPOSITARY SHARES EACH REPRESENTING A 1/400TH INTEREST IN A SHARE OF 4.250% FIXED-RATE RESET NON-CUMULATIVE PERPETUAL PREFERR</title>
        <cusip>957638406</cusip>
        <identifiers>
          <isin value="US9576384062"/>
          <ticker value="WAL A"/>
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        <balance>799288.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>19118968.96000000</valUSD>
        <pctVal>0.145983449239</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EP</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>
        
        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>AMERICAN FINANCIAL GROUP INC</name>
        <lei>549300AFOM7IVKIU1G39</lei>
        <title>AMERICAN FINANCIAL GROUP INC 5.625% SUBORDINATED DEBENTURES DUE 1-JUN-2060</title>
        <cusip>025932872</cusip>
        <identifiers>
          <isin value="US0259328724"/>
          <ticker value="AFGD"/>
        </identifiers>
        <balance>392781.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>7616023.59000000</valUSD>
        <pctVal>0.058152371892</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EP</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>
        
        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>AMERICAN HOMES 4 RENT</name>
        <lei>549300ZJUO7A58PNUW40</lei>
        <title>AMERICAN HOMES 4 RENT 5.875% SERIES G CUMULATIVE REDEEMABLE PERPETUAL PREFERRED SHARES</title>
        <cusip>02665T876</cusip>
        <identifiers>
          <isin value="US02665T8760"/>
          <ticker value="AMH G"/>
        </identifiers>
        <balance>306301.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>6891772.50000000</valUSD>
        <pctVal>0.052622331414</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EP</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>
        
        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>KKR &amp; CO. INC</name>
        <lei>54930013V5I303TF9571</lei>
        <title>KKR &amp; CO. INC 6.875% NOTES ISSUED DUE ON JUNE 1, 2065</title>
        <cusip>48251W609</cusip>
        <identifiers>
          <isin value="US48251W6093"/>
          <ticker value="KKRT"/>
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        <balance>1557706.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>37789947.56000000</valUSD>
        <pctVal>0.288546254921</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EP</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>
        
        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>DIGITAL REALTY TRUST INC</name>
        <lei>549300HKCZ31D08NEI41</lei>
        <title>DIGITAL REALTY TRUST INC 5.850% SERIES K CUMULATIVE REDEEMABLE PREFERRED STOCK</title>
        <cusip>253868830</cusip>
        <identifiers>
          <isin value="US2538688308"/>
          <ticker value="DLR K"/>
        </identifiers>
        <balance>559490.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>12347944.30000000</valUSD>
        <pctVal>0.094283091504</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EP</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>
        
        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>BRIGHTHOUSE FINANCIAL INC</name>
        <lei>5493003T8SZSHOGGAW52</lei>
        <title>BRIGHTHOUSE FINANCIAL INC DEPOSITARY SHARES EACH REPRESENTING A 1/1,000TH INTEREST IN A SHARE OF 6.750% NON-CUMULATIVE PREFERRED STOCK, SERIES B</title>
        <cusip>10922N509</cusip>
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          <isin value="US10922N5095"/>
          <ticker value="BHFAO"/>
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        <balance>1063486.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>15941655.14000000</valUSD>
        <pctVal>0.121722976212</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EP</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>
        
        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>FOSSIL GROUP INC</name>
        <lei>DDMY8YZ6L8UEMS1FDM73</lei>
        <title>FOSL 7.5 06/30/29</title>
        <cusip>34988VAF3</cusip>
        <identifiers>
          <isin value="US34988VAF31"/>
        </identifiers>
        <balance>1174925.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>868269.50000000</valUSD>
        <pctVal>0.006629697278</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>
        
        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2029-06-30</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>7.50000000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>BANK OF NEW YORK MELLON CORP (THE)</name>
        <lei>WFLLPEPC7FZXENRZV188</lei>
        <title>BANK OF NEW YORK MELLON CORP (THE) DEPOSITARY SHARES EACH REPRESENTING A 1/4,000TH INTEREST IN A SHARE OF SERIES K NONCUMULATIVE PERPETUAL PREFERRED S</title>
        <cusip>064058845</cusip>
        <identifiers>
          <isin value="US0640588457"/>
          <ticker value="BK K"/>
        </identifiers>
        <balance>1326848.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>33449838.08000000</valUSD>
        <pctVal>0.255407221468</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EP</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>
        
        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>AMERICAN FINANCIAL GROUP INC</name>
        <lei>549300AFOM7IVKIU1G39</lei>
        <title>AMERICAN FINANCIAL GROUP INC 4.50% SUBORDINATED DEBENTURES DUE ON SEPTEMBER 15, 2060</title>
        <cusip>025932864</cusip>
        <identifiers>
          <isin value="US0259328641"/>
          <ticker value="AFGE"/>
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        <balance>524832.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>8334332.16000000</valUSD>
        <pctVal>0.063637038083</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EP</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>
        
        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>PINNACLE FINANCIAL PARTNERS INC</name>
        <lei>N/A</lei>
        <title>PINNACLE FINANCIAL PARTNERS INC FIXED TO FLTG RATE NON-CUM PERP PFD SER A</title>
        <cusip>72348N208</cusip>
        <identifiers>
          <isin value="US72348N2080"/>
          <ticker value="PNFP A"/>
        </identifiers>
        <balance>527697.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>13350734.10000000</valUSD>
        <pctVal>0.101939922485</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EP</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>
        
        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>RLJ LODGING TRUST</name>
        <lei>N/A</lei>
        <title>RLJ LODGING TRUST SERIES A CUMULATIVE CONVERTIBLE PREFERRED SHARES</title>
        <cusip>74965L200</cusip>
        <identifiers>
          <isin value="US74965L2007"/>
          <ticker value="RLJPA"/>
        </identifiers>
        <balance>857830.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>21033991.60000000</valUSD>
        <pctVal>0.160605660873</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EP</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>
        
        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>BRC GROUP HOLDINGS INC</name>
        <lei>529900LRQ75IKIPK4990</lei>
        <title>BRC GROUP HOLDINGS INC 5.25% SENIOR NOTES DUE AUGUST 31, 2028</title>
        <cusip>05580M819</cusip>
        <identifiers>
          <isin value="US05580M8192"/>
          <ticker value="RILYZ"/>
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        <balance>1015185.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>18598189.20000000</valUSD>
        <pctVal>0.142007020080</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EP</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>
        
        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
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      </invstOrSec>
      <invstOrSec>
        <name>RITHM CAPITAL CORP</name>
        <lei>549300WNTHGEO5LP2G31</lei>
        <title>RITHM CAPITAL CORP 7.125% SER B FIXED TO FLOATING RATE CUMULATIVE REDEEMABLE PREFERRED STOCK</title>
        <cusip>64828T409</cusip>
        <identifiers>
          <isin value="US64828T4094"/>
          <ticker value="RITM B"/>
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        <balance>750119.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>18707967.86000000</valUSD>
        <pctVal>0.142845238264</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EP</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>
        
        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>BROOKFIELD PROPERTY PARTNERS LP</name>
        <lei>5493004J5Z0TZW83NU62</lei>
        <title>BROOKFIELD PROPERTY PARTNERS LP 5.750% CLASS A CUMULATIVE REDEEMABLE PERPETUAL PREFERRED UNITS SERIES 3</title>
        <cusip>000000000</cusip>
        <identifiers>
          <isin value="BMG162491648"/>
          <ticker value="BPYPN"/>
          <other otherDesc="SEDOL" value="BLK7825"/>
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        <balance>765971.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>9949963.29000000</valUSD>
        <pctVal>0.075973237046</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EP</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>BM</invCountry>
        
        <isRestrictedSec>N</isRestrictedSec>
        
        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>SPIRE INC (US)</name>
        <lei>549300NXSY15DRY2R511</lei>
        <title>SPIRE INC (US) 6.375% JUNIOR SUBORDINATED NOTES DUE 2086</title>
        <cusip>84857L705</cusip>
        <identifiers>
          <isin value="US84857L7055"/>
          <ticker value="SRJN"/>
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        <balance>527476.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>12532829.76000000</valUSD>
        <pctVal>0.095694789866</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EP</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>
        
        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>KEMPER CORP</name>
        <lei>549300FNI1JKTRY2PV09</lei>
        <title>KEMPER CORP 5.875% FIXED-RATE RESET JUNIOR SUBORDINATED DEBENTURES DUE MARCH 15, 2062</title>
        <cusip>488401308</cusip>
        <identifiers>
          <isin value="US4884013081"/>
          <ticker value="KMPB"/>
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        <balance>396996.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>9377045.52000000</valUSD>
        <pctVal>0.071598706580</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EP</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>
        
        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>MORGAN STANLEY</name>
        <lei>IGJSJL3JD5P30I6NJZ34</lei>
        <title>MORGAN STANLEY DEPOSITARY SHARES, EACH REPRESENTING 1/1,000TH OWNERSHIP INTEREST IN A SHARE OF 6.625% NONCUMULATIVE PREFERRED STOCK, SERIES Q</title>
        <cusip>61762V838</cusip>
        <identifiers>
          <isin value="US61762V8384"/>
          <ticker value="MS Q"/>
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        <balance>2648586.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>67274084.40000000</valUSD>
        <pctVal>0.513673248053</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EP</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>
        
        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>CHIMERA INVESTMENT CORP</name>
        <lei>2JBBQFJOL123LOUBE657</lei>
        <title>CHIMERA INVESTMENT CORP 8.00% SERIES B FIXED-TO-FLOATING RATE CUMULATIVE REDEEMABLE PREFERRED STOCK</title>
        <cusip>16934Q406</cusip>
        <identifiers>
          <isin value="US16934Q4064"/>
          <ticker value="CIM B"/>
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        <balance>865786.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>20051603.76000000</valUSD>
        <pctVal>0.153104609656</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EP</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>
        
        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>WELLS FARGO &amp; COMPANY</name>
        <lei>PBLD0EJDB5FWOLXP3B76</lei>
        <title>WELLS FARGO &amp; COMPANY DEPOSITARY SHARES, EACH REPRESENTING A 1/1,000TH INTEREST IN A SHARE OF NON-CUMULATIVE PERPETUAL CLASS A PREFERRED STOCK, SERIES</title>
        <cusip>95002Y400</cusip>
        <identifiers>
          <isin value="US95002Y4008"/>
          <ticker value="WFC D"/>
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        <balance>3275737.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>54901352.12000000</valUSD>
        <pctVal>0.419200887199</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EP</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>
        
        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>SCE TRUST II</name>
        <lei>N/A</lei>
        <title>SCE TRUST II 5.10% TRUST PREFERENCE SECURITIES</title>
        <cusip>78407R204</cusip>
        <identifiers>
          <isin value="US78407R2040"/>
          <ticker value="SCE G"/>
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        <balance>578655.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>9709830.90000000</valUSD>
        <pctVal>0.074139699126</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EP</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>
        
        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>AGNC INVESTMENT CORP</name>
        <lei>5TRACI5HRMELWV32OF39</lei>
        <title>AGNC INVESTMENT CORP DEPOSITARY SHARES EACH REPRESENTING 1/1,000 TH OF A SHARE OF 6.875% SERIES D FIXED TO FLOATING RATE CUMULATIVE REDEEMABLE PREFERR</title>
        <cusip>00123Q609</cusip>
        <identifiers>
          <isin value="US00123Q6098"/>
          <ticker value="AGNCM"/>
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        <balance>626058.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>15651450.00000000</valUSD>
        <pctVal>0.119507106338</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EP</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>
        
        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>BRIGHTSPRING HEALTH SERVICES INC</name>
        <lei>N/A</lei>
        <title>BTSG 6.75 02/01/27</title>
        <cusip>10950A205</cusip>
        <identifiers>
          <isin value="US10950A2050"/>
          <ticker value="BTSGU"/>
          <other otherDesc="SEDOL" value="BPDYYD4"/>
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        <balance>532163.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>121838718.85000000</valUSD>
        <pctVal>0.930303117590</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EP</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>
        
        <fairValLevel>1</fairValLevel>
        <securityLending>
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          <isNonCashCollateral>N</isNonCashCollateral>
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      <invstOrSec>
        <name>PEBBLEBROOK HOTEL TRUST</name>
        <lei>5493004Q1NNH6JXCSI52</lei>
        <title>PEBBLEBROOK HOTEL TRUST 6.3% SER F CUM RED PRF SHS BEN INT</title>
        <cusip>70509V704</cusip>
        <identifiers>
          <isin value="US70509V7047"/>
          <ticker value="PEB F"/>
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        <balance>395764.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>7685736.88000000</valUSD>
        <pctVal>0.058684669766</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EP</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>
        
        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>FIRST CITIZENS BANCSHARES INC</name>
        <lei>549300N3Z00ZHE2XC526</lei>
        <title>FIRST CITIZENS BANCSHARES INC 5.625% NON-CUM PERPETUAL PFD STK SER C</title>
        <cusip>31959X202</cusip>
        <identifiers>
          <isin value="US31959X2027"/>
          <ticker value="FCNCO"/>
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        <balance>532853.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>10896843.85000000</valUSD>
        <pctVal>0.083203171382</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EP</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>
        
        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <loanByFundCondition isLoanByFund="Y" loanVal="38855.00000000"/>
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      <invstOrSec>
        <name>ACRES COMMERCIAL REALTY CORP</name>
        <lei>549300RUJWPCMY4JFR46</lei>
        <title>ACRES COMMERCIAL REALTY CORP 8.625% FIXED-TO-FLOATING SERIES C CUMULATIVE REDEEMABLE PREFERRED STOCK</title>
        <cusip>00489Q201</cusip>
        <identifiers>
          <isin value="US00489Q2012"/>
          <ticker value="ACR C"/>
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        <balance>322250.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>8133590.00000000</valUSD>
        <pctVal>0.062104265422</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EP</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>
        
        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>FORD MOTOR CO</name>
        <lei>20S05OYHG0MQM4VUIC57</lei>
        <title>FORD MOTOR CO 6.000% NOTES DUE DECEMBER 1, 2059</title>
        <cusip>345370837</cusip>
        <identifiers>
          <isin value="US3453708378"/>
          <ticker value="F C"/>
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        <balance>2117531.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>41355380.43000000</valUSD>
        <pctVal>0.315770222358</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EP</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>
        
        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
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        <name>CAPITAL ONE FINANCIAL CORP</name>
        <lei>ZUE8T73ROZOF6FLBAR73</lei>
        <title>CAPITAL ONE FINANCIAL CORP DEPOSITARY SHARES EACH REPRESENTING A 1/40TH INTEREST IN A SHARE OF FIXED RATE NON-CUMULATIVE PERPETUAL PREFERRED STOCK, SE</title>
        <cusip>14040H824</cusip>
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          <ticker value="COF I"/>
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        <balance>3981697.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>72785421.16000000</valUSD>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>EP</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>
        
        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>DIGITAL REALTY TRUST INC</name>
        <lei>549300HKCZ31D08NEI41</lei>
        <title>DIGITAL REALTY TRUST INC 5.200% SERIES L CUMULATIVE REDEEMABLE PREFERRED STOCK</title>
        <cusip>253868822</cusip>
        <identifiers>
          <isin value="US2538688225"/>
          <ticker value="DLR L"/>
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        <balance>919130.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>18079287.10000000</valUSD>
        <pctVal>0.138044927849</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EP</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>
        
        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>SCE TRUST VI</name>
        <lei>N/A</lei>
        <title>SCE TRUST VI 5.00% TRUST PREFERENCE SECURITIES</title>
        <cusip>78410V200</cusip>
        <identifiers>
          <isin value="US78410V2007"/>
          <ticker value="SCE L"/>
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        <balance>1265292.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>20940582.60000000</valUSD>
        <pctVal>0.159892433709</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EP</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>
        
        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>RUNWAY GROWTH FINANCE CORP</name>
        <lei>254900AXR3J2N1XT0V02</lei>
        <title>RUNWAY GROWTH FINANCE CORP 7.25% CALLABLE NOTES DUE FEBRUARY 3, 2031</title>
        <cusip>78163D407</cusip>
        <identifiers>
          <isin value="US78163D4079"/>
          <ticker value="RWAYI"/>
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        <balance>262375.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>6388831.25000000</valUSD>
        <pctVal>0.048782108723</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EP</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>
        
        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>FIFTH THIRD BANCORP</name>
        <lei>THRNG6BD57P9QWTQLG42</lei>
        <title>FIFTH THIRD BANCORP 6% DEP SHS EACH REP A 1/40TH INT IN A SHARE OF THE NON-CUMULATIVE PERPETUAL CL B PFD STK SER A</title>
        <cusip>316773886</cusip>
        <identifiers>
          <isin value="US3167738869"/>
          <ticker value="FITBP"/>
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        <balance>527320.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>12191638.40000000</valUSD>
        <pctVal>0.093089613212</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EP</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>
        
        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>AT&amp;T INC</name>
        <lei>549300Z40J86GGSTL398</lei>
        <title>AT&amp;T INC DEPOSITARY SHARES, EACH REPRESENTING A 1/1000TH INTEREST IN A SHARE OF 4.750% PERPETUAL PREFERRED STOCK, SERIES C</title>
        <cusip>00206R706</cusip>
        <identifiers>
          <isin value="US00206R7061"/>
          <ticker value="T C"/>
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        <balance>4655169.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>83048214.96000000</valUSD>
        <pctVal>0.634117085412</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EP</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>
        
        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>POPULAR CAPITAL TRUST II</name>
        <lei>N/A</lei>
        <title>POPULAR CAPITAL TRUST II 6.125% CUMULATIVE MONTHLY INCOME TRUST PREFERRED SECURITIES</title>
        <cusip>73317H206</cusip>
        <identifiers>
          <isin value="US73317H2067"/>
          <ticker value="BPOPM"/>
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        <balance>269225.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>6730625.00000000</valUSD>
        <pctVal>0.051391884943</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EP</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        
        <isRestrictedSec>N</isRestrictedSec>
        
        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>MORGAN STANLEY</name>
        <lei>IGJSJL3JD5P30I6NJZ34</lei>
        <title>MORGAN STANLEY DEPOSITARY SHARES EACH REPRESENTING 1/1,000 TH OF A SHARE OF FIXED-TO-FLOATING RATE NON-CUMULATIVE PREFERRED STOCK, SERIES K</title>
        <cusip>61762V606</cusip>
        <identifiers>
          <isin value="US61762V6065"/>
          <ticker value="MS K"/>
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        <balance>2664243.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>62769565.08000000</valUSD>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>EP</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>
        
        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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          <isLoanByFund>N</isLoanByFund>
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        <name>EPR PROPERTIES</name>
        <lei>549300YSSXFHMPOWZ492</lei>
        <title>EPR PROPERTIES SERIES E CUMULATIVE CONVERTIBLE PREFERRED SHARES</title>
        <cusip>26884U307</cusip>
        <identifiers>
          <isin value="US26884U3077"/>
          <ticker value="EPRPE"/>
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        <balance>229466.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>7290134.82000000</valUSD>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>EP</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>
        
        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>GOLDMAN SACHS GROUP INC (THE)</name>
        <lei>784F5XWPLTWKTBV3E584</lei>
        <title>GOLDMAN SACHS GROUP INC (THE) 1/1000TH INTEREST IN A SHARE OF FLOATING RATE NON-CUMULATIVE PREFERRED STOCK, SERIES D</title>
        <cusip>38144G804</cusip>
        <identifiers>
          <isin value="US38144G8042"/>
          <ticker value="GS D"/>
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        <balance>3596597.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>67867785.39000000</valUSD>
        <pctVal>0.518206469406</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EP</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>
        
        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>W. R. BERKLEY CORP</name>
        <lei>SQOAGCLKBDWNVYV1OV80</lei>
        <title>W. R. BERKLEY CORP 4.125% SUBORDINATED DEBENTURES DUE MARCH 30, 2061</title>
        <cusip>084423870</cusip>
        <identifiers>
          <isin value="US0844238701"/>
          <ticker value="WRB H"/>
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        <balance>790823.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>11814895.62000000</valUSD>
        <pctVal>0.090212982646</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EP</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>
        
        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>JP MORGAN CHASE &amp; COMPANY</name>
        <lei>8I5DZWZKVSZI1NUHU748</lei>
        <title>JP MORGAN CHASE &amp; COMPANY 5.75% DEP SHS REP 1/400TH INT SHS NON CUM PFD STK SER DD</title>
        <cusip>48128B655</cusip>
        <identifiers>
          <isin value="US48128B6552"/>
          <ticker value="JPM D"/>
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        <balance>4519212.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>108506280.12000000</valUSD>
        <pctVal>0.828502889939</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EP</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>
        
        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>SHIFT4 PAYMENTS INC</name>
        <lei>N/A</lei>
        <title>SHIFT4 PAYMENTS INC 6.00% SERIES A MANDATORY CONVERTIBLE PREFERRED STOCK</title>
        <cusip>82452J307</cusip>
        <identifiers>
          <isin value="US82452J3077"/>
          <ticker value="FOURPA"/>
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        <balance>666064.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>41475805.28000000</valUSD>
        <pctVal>0.316689729839</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EP</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>
        
        <fairValLevel>2</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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        <name>NATIONAL STORAGE AFFILIATES TRUST</name>
        <lei>529900FS06O8GOYNR108</lei>
        <title>NATIONAL STORAGE AFFILIATES TRUST 6.000% SERIES B CUMULATIVE REDEEMABLE PREFERRED SHARES OF BENEFICIAL INTEREST</title>
        <cusip>637870304</cusip>
        <identifiers>
          <isin value="US6378703044"/>
          <ticker value="NSA B"/>
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        <balance>371994.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>8559581.94000000</valUSD>
        <pctVal>0.065356939396</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EP</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>
        
        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>CAPITAL ONE FINANCIAL CORP</name>
        <lei>ZUE8T73ROZOF6FLBAR73</lei>
        <title>CAPITAL ONE FINANCIAL CORP DEPOSITARY SHARES EACH REPRESENTING A 1/40TH INTEREST IN A SHARE OF FIXED RATE NON-CUMULATIVE PERPETUAL PREFERRED STOCK, SE</title>
        <cusip>14040H774</cusip>
        <identifiers>
          <isin value="US14040H7742"/>
          <ticker value="COF K"/>
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        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>5360784.00000000</valUSD>
        <pctVal>0.040932423740</pctVal>
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        <assetCat>EP</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>
        
        <fairValLevel>1</fairValLevel>
        <securityLending>
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        <name>TRITON INTERNATIONAL LTD</name>
        <lei>N/A</lei>
        <title>TRITON INTERNATIONAL LTD 7.5% SERIES G CUMULATIVE REDEEMABLE PERPETUAL PREFERENCE SHARES</title>
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          <ticker value="TRTN G"/>
          <other otherDesc="SEDOL" value="BN4G5T8"/>
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        <assetCat>EP</assetCat>
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        <invCountry>BM</invCountry>
        
        <isRestrictedSec>N</isRestrictedSec>
        
        <fairValLevel>2</fairValLevel>
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        <name>DILLARD'S CAPITAL TRUST I</name>
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        <cusip>25406P200</cusip>
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          <isin value="US25406P2002"/>
          <ticker value="DDT"/>
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        <assetCat>EP</assetCat>
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        <fairValLevel>1</fairValLevel>
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        <name>US BANCORP</name>
        <lei>N1GZ7BBF3NP8GI976H15</lei>
        <title>US BANCORP DEP SHS EA REP A 1/1000 TH INT IN SHS SER K NON CUM PER PFD STK</title>
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          <isin value="US9029737593"/>
          <ticker value="USB P"/>
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        <curCd>USD</curCd>
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        <assetCat>EP</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>
        
        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
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      <invstOrSec>
        <name>REGENCY CENTERS CORP</name>
        <lei>529900053A7X7FJ97S58</lei>
        <title>REGENCY CENTERS CORP CUM RED PFD SER A 6.25%</title>
        <cusip>758849889</cusip>
        <identifiers>
          <isin value="US7588498896"/>
          <ticker value="REGCP"/>
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        <curCd>USD</curCd>
        <valUSD>6922402.60000000</valUSD>
        <pctVal>0.052856208443</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EP</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>
        
        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>AFFILIATED MANAGERS GROUP INC</name>
        <lei>2JE75BUE3T1BLCYYGK54</lei>
        <title>AFFILIATED MANAGERS GROUP INC 4.750% JUNIOR SUBORDINATED NOTES DUE SEPTEMBER 30, 2060</title>
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          <isin value="US0082528433"/>
          <ticker value="MGRB"/>
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        <assetCat>EP</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>
        
        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
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      <invstOrSec>
        <name>CNO FINANCIAL GROUP INC</name>
        <lei>11XPYHB76MPM4Y4P2897</lei>
        <title>CNO FINANCIAL GROUP INC 5.125% SUBORDINATED DEBENTURES DUE NOVEMBER 25, 2060</title>
        <cusip>12621E301</cusip>
        <identifiers>
          <isin value="US12621E3018"/>
          <ticker value="CNO A"/>
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        <balance>403041.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>6678389.37000000</valUSD>
        <pctVal>0.050993038256</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EP</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>
        
        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>BRC GROUP HOLDINGS INC</name>
        <lei>529900LRQ75IKIPK4990</lei>
        <title>BRC GROUP HOLDINGS INC 6.5% SENIOR NOTES DUE SEPTEMBER 30, 2026</title>
        <cusip>05580M801</cusip>
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          <ticker value="RILYN"/>
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        <valUSD>11853222.92000000</valUSD>
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        <fairValLevel>1</fairValLevel>
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        <name>ASSURANT INC</name>
        <lei>H3F39CAXWQRVWURFXL38</lei>
        <title>ASSURANT INC 5.25% SUBORDINATED NOTES DUE JANUARY 15, 2061</title>
        <cusip>04621X306</cusip>
        <identifiers>
          <isin value="US04621X3061"/>
          <ticker value="AIZN"/>
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        <balance>671135.00000000</balance>
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        <valUSD>12751565.00000000</valUSD>
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        <fairValLevel>1</fairValLevel>
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        <name>GLOBAL NET LEASE INC</name>
        <lei>549300NUYANCT5SU8Z65</lei>
        <title>GLOBAL NET LEASE INC 7.50% CUM RED PFD SER D</title>
        <cusip>379378508</cusip>
        <identifiers>
          <isin value="US3793785086"/>
          <ticker value="GNL D"/>
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        <balance>528297.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>12356866.83000000</valUSD>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>EP</assetCat>
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        <fairValLevel>1</fairValLevel>
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        <name>CHS INC</name>
        <lei>XEIEFTLYDQ1MZ6TZV015</lei>
        <title>CHS INC CLASS B RESET RATE CUMULATIVE REDEEMABLE PREFERRED STOCK, SERIES 3</title>
        <cusip>12542R704</cusip>
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          <isin value="US12542R7044"/>
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        <valUSD>31386996.98000000</valUSD>
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        <fairValLevel>1</fairValLevel>
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        <name>ASSOCIATED BANC-CORP</name>
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        <title>ASSOCIATED BANC-CORP FIXED-RATE RESET SUBORDINATED NOTES DUE MARCH 1, 2033</title>
        <cusip>045487600</cusip>
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          <isin value="US0454876006"/>
          <ticker value="ASBA"/>
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        <curCd>USD</curCd>
        <valUSD>19301216.22000000</valUSD>
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        <assetCat>EP</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>
        
        <fairValLevel>1</fairValLevel>
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        <name>STRIVE INC</name>
        <lei>N/A</lei>
        <title>STRIVE INC VARIABLE RATE SERIES A PERPETUAL PREFERRED STOCK</title>
        <cusip>862945201</cusip>
        <identifiers>
          <isin value="US8629452017"/>
          <ticker value="SATA"/>
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        <balance>221055.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>20127057.75000000</valUSD>
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        <assetCat>EP</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>
        
        <fairValLevel>1</fairValLevel>
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        <name>BROOKFIELD OAKTREE HOLDINGS LLC</name>
        <lei>254900T1ODNFOK2L6090</lei>
        <title>BROOKFIELD OAKTREE HOLDINGS LLC 6.625% PREFERRED UNITS SERIES A</title>
        <cusip>674001300</cusip>
        <identifiers>
          <isin value="US6740013007"/>
          <ticker value="OAK A"/>
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        <balance>479531.00000000</balance>
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        <valUSD>10007811.97000000</valUSD>
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        <assetCat>EP</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>
        
        <fairValLevel>1</fairValLevel>
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      <invstOrSec>
        <name>BROOKFIELD OAKTREE HOLDINGS LLC</name>
        <lei>254900T1ODNFOK2L6090</lei>
        <title>BROOKFIELD OAKTREE HOLDINGS LLC 6.550% SERIES B PREFERRED UNITS</title>
        <cusip>674001409</cusip>
        <identifiers>
          <isin value="US6740014096"/>
          <ticker value="OAK B"/>
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        <valUSD>13040788.14000000</valUSD>
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        <assetCat>EP</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>
        
        <fairValLevel>1</fairValLevel>
        <securityLending>
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      <invstOrSec>
        <name>FIFTH THIRD BANCORP</name>
        <lei>THRNG6BD57P9QWTQLG42</lei>
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          <isin value="US3167738604"/>
          <ticker value="FITBO"/>
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        <valUSD>11792108.30000000</valUSD>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>EP</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>
        
        <fairValLevel>1</fairValLevel>
        <securityLending>
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          <isNonCashCollateral>N</isNonCashCollateral>
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        <name>VSE CORP</name>
        <lei>N/A</lei>
        <title>VSEC 5.75 02/01/29</title>
        <cusip>918284209</cusip>
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          <isin value="US9182842099"/>
          <ticker value="VSECU"/>
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        <curCd>USD</curCd>
        <valUSD>35175182.13000000</valUSD>
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        <assetCat>EP</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>
        
        <fairValLevel>1</fairValLevel>
        <securityLending>
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      <invstOrSec>
        <name>CITIGROUP INC</name>
        <lei>6SHGI4ZSSLCXXQSBB395</lei>
        <title>CITIGROUP INC DEPOSITARY SHARES EACH REPRESENTING A 1/1,000TH INTEREST IN A SHARE OF 6.25% NONCUMULATIVE PREFERRED STOCK, SERIES II</title>
        <cusip>172967242</cusip>
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          <ticker value="C R"/>
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        <curCd>USD</curCd>
        <valUSD>53625898.20000000</valUSD>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>EP</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>
        
        <fairValLevel>1</fairValLevel>
        <securityLending>
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        <name>HANCOCK WHITNEY CORP</name>
        <lei>549300GRNBWY8HIICT41</lei>
        <title>HANCOCK WHITNEY CORP 6.25% SUBORDINATED NOTES DUE JUNE 15, 2060</title>
        <cusip>410120406</cusip>
        <identifiers>
          <isin value="US4101204067"/>
          <ticker value="HWCPZ"/>
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        <balance>453498.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>9863581.50000000</valUSD>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>EP</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>
        
        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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        <name>RENAISSANCERE HOLDINGS LTD</name>
        <lei>EK6GB9U3U58PDI411C94</lei>
        <title>RENAISSANCERE HOLDINGS LTD DEP SHS REP 1/1000 INT PFD</title>
        <cusip>75968N309</cusip>
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          <ticker value="RNR F"/>
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        <curCd>USD</curCd>
        <valUSD>13979616.00000000</valUSD>
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        <assetCat>EP</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>BM</invCountry>
        
        <isRestrictedSec>N</isRestrictedSec>
        
        <fairValLevel>1</fairValLevel>
        <securityLending>
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      <invstOrSec>
        <name>BANK OF AMERICA CORP</name>
        <lei>9DJT3UXIJIZJI4WXO774</lei>
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        <cusip>06055H400</cusip>
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          <ticker value="BAC O"/>
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        <curCd>USD</curCd>
        <valUSD>35928577.26000000</valUSD>
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        <assetCat>EP</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>
        
        <fairValLevel>1</fairValLevel>
        <securityLending>
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        <name>VALLEY NATIONAL BANCORP</name>
        <lei>549300ET52S1UBIB9762</lei>
        <title>VALLEY NATIONAL BANCORP 5.50% FIXED-TO-FLOATING RATE NON-CUMULATIVE PERPETUAL PREFERRED STOCK, SERIES B</title>
        <cusip>919794305</cusip>
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          <isin value="US9197943056"/>
          <ticker value="VLYPO"/>
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        <curCd>USD</curCd>
        <valUSD>6502734.60000000</valUSD>
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        <assetCat>EP</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>
        
        <fairValLevel>1</fairValLevel>
        <securityLending>
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      <invstOrSec>
        <name>QWEST CORP</name>
        <lei>N/A</lei>
        <title>QWEST CORP 6.500% SENIOR NOTES DUE SEPTEMBER 1,2051 (DENOMINATIONS OF $25)</title>
        <cusip>74913G865</cusip>
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          <ticker value="CTGG"/>
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        <curCd>USD</curCd>
        <valUSD>45159745.52000000</valUSD>
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        <assetCat>EP</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>
        
        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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        <name>TRUIST FINANCIAL CORP</name>
        <lei>549300DRQQI75D2JP341</lei>
        <title>TRUIST FINANCIAL CORP DEPOSITARY SHARES, EACH REPRESENTING A 1/4000TH INTEREST IN A SHARE OF PERPETUAL PREFERRED STOCK, SERIES I</title>
        <cusip>89832Q810</cusip>
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          <ticker value="TFC I"/>
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        <curCd>USD</curCd>
        <valUSD>8229465.90000000</valUSD>
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        <assetCat>EP</assetCat>
        <issuerCat>CORP</issuerCat>
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        <fairValLevel>1</fairValLevel>
        <securityLending>
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        <name>TRITON INTERNATIONAL LTD</name>
        <lei>N/A</lei>
        <title>TRITON INTERNATIONAL LTD 6.875% SERIES D CUMULATIVE REDEEMABLE PERPETUAL PREFERENCE SHARES</title>
        <cusip>000000000</cusip>
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          <ticker value="TRTN D"/>
          <other otherDesc="SEDOL" value="BMTQTF0"/>
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        <curCd>USD</curCd>
        <valUSD>8912712.35000000</valUSD>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>EP</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>BM</invCountry>
        
        <isRestrictedSec>N</isRestrictedSec>
        
        <fairValLevel>2</fairValLevel>
        <securityLending>
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          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>GLOBAL SHIP LEASE INC</name>
        <lei>254900GLZ0J5N8UZM071</lei>
        <title>GLOBAL SHIP LEASE INC DEPOSITARY SHARES EACH REPRESENTING 1/100 TH OF ONE SHARE OF 8.75% SERIES B CUMULATIVE REDEEMABLE PERPETUAL PREFERRED SHARES</title>
        <cusip>000000000</cusip>
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          <isin value="MHY271831213"/>
          <ticker value="GSL B"/>
          <other otherDesc="SEDOL" value="BQ1VYX4"/>
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        <curCd>USD</curCd>
        <valUSD>7736761.50000000</valUSD>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>EP</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>MH</invCountry>
        
        <isRestrictedSec>N</isRestrictedSec>
        
        <fairValLevel>1</fairValLevel>
        <securityLending>
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          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>WESBANCO INC</name>
        <lei>N/A</lei>
        <title>WESBANCO INC DEPOSITARY SHARES, EACH REPRESENTING A 1/40TH INTEREST IN A SHARE OF 7.375% FIXED-RATE RESET NON-CUMULATIVE PERPETUAL PREFERRED STOCK, SE</title>
        <cusip>950810887</cusip>
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          <ticker value="WSBCO"/>
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        <balance>612930.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>15427448.10000000</valUSD>
        <pctVal>0.117796733249</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EP</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>
        
        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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        <name>FULTON FINANCIAL CORP</name>
        <lei>5493005QLZ6O1BNC0C11</lei>
        <title>FULTON FINANCIAL CORP DEPOSITARY SHARES, EACH REPRESENTING A 1/40TH INTEREST IN A SHARE OF FIXED RATE NON-CUMULATIVE PERPETUAL PREFERRED STOCK, SERIES</title>
        <cusip>360271308</cusip>
        <identifiers>
          <isin value="US3602713089"/>
          <ticker value="FULTP"/>
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        <balance>540817.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>9572460.90000000</valUSD>
        <pctVal>0.073090806455</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EP</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>
        
        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>PENNYMAC MORTGAGE INVESTMENT TRUST</name>
        <lei>549300BSSOQO1ZWDUJ97</lei>
        <title>PENNYMAC MORTGAGE INVESTMENT TRUST 9.00% SENIOR NOTES DUE FEBRUARY 15, 2030</title>
        <cusip>70931T707</cusip>
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        <fairValLevel>1</fairValLevel>
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      <invstOrSec>
        <name>BANK OF AMERICA CORP</name>
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        <fairValLevel>1</fairValLevel>
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        <name>CMS ENERGY CORP</name>
        <lei>549300IA9XFBAGNIBW29</lei>
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        <fairValLevel>1</fairValLevel>
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        <name>REDWOOD TRUST INC</name>
        <lei>DRBV4N1ERQLEMIF11G78</lei>
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        <fairValLevel>1</fairValLevel>
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        <name>REINSURANCE GROUP OF AMERICA INC</name>
        <lei>LORM1GNEU1DKEW527V90</lei>
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        <cusip>759351885</cusip>
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        <curCd>USD</curCd>
        <valUSD>47639966.12000000</valUSD>
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        <invCountry>US</invCountry>
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        <fairValLevel>1</fairValLevel>
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        <name>KKR GROUP FINANCE CO IX LLC</name>
        <lei>N/A</lei>
        <title>KKR GROUP FINANCE CO IX LLC 4.625% SUBORDINATED NOTES DUE APRIL 1, 2061</title>
        <cusip>48253M104</cusip>
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          <isin value="US48253M1045"/>
          <ticker value="KKRS"/>
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        <curCd>USD</curCd>
        <valUSD>21582549.01000000</valUSD>
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        <assetCat>EP</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
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        <fairValLevel>1</fairValLevel>
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        <name>US BANCORP</name>
        <lei>N1GZ7BBF3NP8GI976H15</lei>
        <title>US BANCORP DEPOSITARY SHARES EACH REPRESENTING A 1/100TH INTEREST IN A SHARE OF A NON-CUMULATIVE PERPETUAL PREFERRED STOCK</title>
        <cusip>902973866</cusip>
        <identifiers>
          <isin value="US9029738666"/>
          <ticker value="USB A"/>
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        <balance>38022.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>29159071.80000000</valUSD>
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        <assetCat>EP</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
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        <fairValLevel>1</fairValLevel>
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        <name>ARRAY DIGITAL INFRASTRUCTURE INC</name>
        <lei>549300B164AZXESI6E03</lei>
        <title>ARRAY DIGITAL INFRASTRUCTURE INC 6.250% SENIOR NOTES DUE SEPTEMBER 1, 2069</title>
        <cusip>911684702</cusip>
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          <isin value="US9116847024"/>
          <ticker value="UZD"/>
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        <curCd>USD</curCd>
        <valUSD>5172143.20000000</valUSD>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>EP</assetCat>
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        <fairValLevel>1</fairValLevel>
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        <name>SCE TRUST VIII</name>
        <lei>N/A</lei>
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        <identifiers>
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          <ticker value="SCE N"/>
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        <balance>932358.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>21155203.02000000</valUSD>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>EP</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>
        
        <fairValLevel>1</fairValLevel>
        <securityLending>
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      <invstOrSec>
        <name>GOLDMAN SACHS GROUP INC (THE)</name>
        <lei>784F5XWPLTWKTBV3E584</lei>
        <title>GOLDMAN SACHS GROUP INC (THE) 1/1000TH INTEREST IN A SHARE OF FLOATING RATE NON-CUMULATIVE PREFERRED STOCK, SERIES A</title>
        <cusip>38143Y665</cusip>
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          <isin value="US38143Y6656"/>
          <ticker value="GS A"/>
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        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>38081767.02000000</valUSD>
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        <assetCat>EP</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
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        <fairValLevel>1</fairValLevel>
        <securityLending>
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      </invstOrSec>
      <invstOrSec>
        <name>CITIZENS FINANCIAL GROUP INC</name>
        <lei>2138004JDDA4ZQUPFW65</lei>
        <title>CITIZENS FINANCIAL GROUP INC DEPOSITARY SHARES, EACH REPRESENTING A 1/40TH INTEREST IN A SHARE OF 7.375% FIXED-RATE NON-CUMULATIVE PERPETUAL PREFERRED</title>
        <cusip>174610600</cusip>
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          <isin value="US1746106004"/>
          <ticker value="CFG H"/>
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        <balance>1057146.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>27052366.14000000</valUSD>
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        <assetCat>EP</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>
        
        <fairValLevel>1</fairValLevel>
        <securityLending>
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          <isNonCashCollateral>N</isNonCashCollateral>
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      <invstOrSec>
        <name>BROOKFIELD BRP HOLDINGS (CANADA) INC</name>
        <lei>549300NSPD7QJ50GZW26</lei>
        <title>BROOKFIELD BRP HOLDINGS (CANADA) INC 7.250% PERPETUAL SUBORDINATED NOTES</title>
        <cusip>11259P307</cusip>
        <identifiers>
          <isin value="US11259P3073"/>
          <ticker value="BEPJ"/>
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        <balance>399505.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>10039560.65000000</valUSD>
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        <assetCat>EP</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>CA</invCountry>
        <isRestrictedSec>N</isRestrictedSec>
        
        <fairValLevel>1</fairValLevel>
        <securityLending>
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        <name>PPL CORP</name>
        <lei>9N3UAJSNOUXFKQLF3V18</lei>
        <title>PPL 7 02/15/29</title>
        <cusip>69351T866</cusip>
        <identifiers>
          <isin value="US69351T8669"/>
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        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>75037009.81000000</valUSD>
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        <assetCat>EP</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
        <securityLending>
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          <isNonCashCollateral>N</isNonCashCollateral>
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        <name>STRATEGY INC</name>
        <lei>549300WQTWEJUEHXQX21</lei>
        <title>STRATEGY INC 10.00% SERIES A PERPETUAL STRIFE PREFERRED NON CUM STOCK</title>
        <cusip>594972861</cusip>
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          <isin value="US5949728613"/>
          <ticker value="STRD"/>
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        <balance>727289.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>40931824.92000000</valUSD>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>EP</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>
        
        <fairValLevel>1</fairValLevel>
        <securityLending>
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          <isNonCashCollateral>N</isNonCashCollateral>
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      <invstOrSec>
        <name>AT&amp;T INC</name>
        <lei>549300Z40J86GGSTL398</lei>
        <title>AT&amp;T INC DEPOSITARY SHARES EACH REPRESENTING A 1/1000TH INTEREST IN A SHARE OF 5.000% PERPETUAL PREFERRED STOCK, SERIES A</title>
        <cusip>00206R508</cusip>
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          <ticker value="T A"/>
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        <curCd>USD</curCd>
        <valUSD>60326587.45000000</valUSD>
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        <assetCat>EP</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
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        <fairValLevel>1</fairValLevel>
        <securityLending>
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          <isNonCashCollateral>N</isNonCashCollateral>
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      <invstOrSec>
        <name>AT&amp;T INC</name>
        <lei>549300Z40J86GGSTL398</lei>
        <title>AT&amp;T INC 5.350% GLOBAL NOTES DUE 2066</title>
        <cusip>00206R300</cusip>
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          <isin value="US00206R3003"/>
          <ticker value="TBB"/>
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        <curCd>USD</curCd>
        <valUSD>72027217.92000000</valUSD>
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        <assetCat>EP</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>
        
        <fairValLevel>1</fairValLevel>
        <securityLending>
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        <name>SYNCHRONY FINANCIAL</name>
        <lei>549300RS7EWPM9MA6C78</lei>
        <title>SYNCHRONY FINANCIAL DEPOSITARY SHARES EACH REPRESENTING A 1/40TH INTEREST IN A SHARE OF 8.250% FIXED RATE RESET NON-CUMULATIVE PERPETUAL PREFERRED STO</title>
        <cusip>87165B400</cusip>
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          <ticker value="SYF B"/>
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        <curCd>USD</curCd>
        <valUSD>34368036.30000000</valUSD>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>EP</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>
        
        <fairValLevel>1</fairValLevel>
        <securityLending>
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          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>NAVIENT CORP</name>
        <lei>54930067J0ZNOEBRW338</lei>
        <title>NAVIENT CORP 6% SENIOR NOTES DUE DECEMBER 15, 2043</title>
        <cusip>63938C405</cusip>
        <identifiers>
          <isin value="US63938C4050"/>
          <ticker value="JSM"/>
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        <balance>792007.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>14287806.28000000</valUSD>
        <pctVal>0.109094964648</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EP</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>
        
        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>FLAGSTAR BANK NA</name>
        <lei>SS1TRMSN6BRNMOREEV51</lei>
        <title>FLG 6 11/01/51</title>
        <cusip>64944P307</cusip>
        <identifiers>
          <isin value="US64944P3073"/>
          <ticker value="FLGPU"/>
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        <balance>189917.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>7792294.51000000</valUSD>
        <pctVal>0.059498293680</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EP</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>
        
        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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        <name>KIMCO REALTY CORP</name>
        <lei>254900ARY41P4V1JL861</lei>
        <title>KIMCO REALTY CORP DEP SHS REP 1/1000 SHS CL M</title>
        <cusip>49446R711</cusip>
        <identifiers>
          <isin value="US49446R7118"/>
          <ticker value="KIM M"/>
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        <balance>697066.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>13767053.50000000</valUSD>
        <pctVal>0.105118741496</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EP</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>
        
        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>GLOBAL NET LEASE INC</name>
        <lei>549300NUYANCT5SU8Z65</lei>
        <title>GLOBAL NET LEASE INC 6.875% SERIES B CUMULATIVE REDEEMABLE PERPETUAL PREFERRED STOCK</title>
        <cusip>379378409</cusip>
        <identifiers>
          <isin value="US3793784097"/>
          <ticker value="GNL B"/>
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        <balance>312864.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>6754733.76000000</valUSD>
        <pctVal>0.051575968089</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EP</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>
        
        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>STIFEL FINANCIAL CORP</name>
        <lei>549300E5F07FE5GHJX84</lei>
        <title>STIFEL FINANCIAL CORP DEPOSITARY SHARES, EACH REPRESENTING A 1/1000TH INTEREST IN A SHARE OF 4.50% NON-CUMULATIVE PREFERRED STOCK, SERIES D</title>
        <cusip>860630862</cusip>
        <identifiers>
          <isin value="US8606308620"/>
          <ticker value="SF D"/>
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        <balance>791254.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>12723364.32000000</valUSD>
        <pctVal>0.097149622097</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EP</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>
        
        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>BLACKROCK GLOBAL</name>
        <lei>N/A</lei>
        <title>BLACKROCK GLOBAL</title>
        <cusip>000000000</cusip>
        <identifiers>
          <other otherDesc="INTERNAL" value="962AZX905"/>
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        <balance>43512137.44000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>43525191.08000000</valUSD>
        <pctVal>0.332337875329</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>STIV</assetCat>
        <issuerCat>RF</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>
        
        <fairValLevel>1</fairValLevel>
        <securityLending>
          <cashCollateralCondition cashCollateralVal="43525191.08000000" isCashCollateral="Y"/>
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          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>COMPASS DIVERSIFIED HOLDINGS</name>
        <lei>5299001SM1LBYANJRR58</lei>
        <title>COMPASS DIVERSIFIED HOLDINGS SERIES B FIXED TO FLOATING RATE CUMULATIVE PREFERRED SHARES</title>
        <cusip>20451Q302</cusip>
        <identifiers>
          <isin value="US20451Q3020"/>
          <ticker value="CODI B"/>
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        <balance>495153.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>10967638.95000000</valUSD>
        <pctVal>0.083743729449</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EP</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>
        
        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>BANK OF AMERICA CORP</name>
        <lei>9DJT3UXIJIZJI4WXO774</lei>
        <title>BANK OF AMERICA CORP 7.25% NON-CUMULATIVE PERPETUAL CONVERTIBLE PREFERRED STOCK SERIES L</title>
        <cusip>060505682</cusip>
        <identifiers>
          <isin value="US0605056821"/>
          <ticker value="BACPL"/>
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        <balance>151030.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>189467135.00000000</valUSD>
        <pctVal>1.446681876131</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EP</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>
        
        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>JP MORGAN CHASE &amp; COMPANY</name>
        <lei>8I5DZWZKVSZI1NUHU748</lei>
        <title>JP MORGAN CHASE &amp; COMPANY DEPOSITARY SHARES EACH REP 1/400TH INTEREST IN A SHARE OF JP MORGAN CHASE &amp; CO 6% NON CUM PFD STOCK SER EE</title>
        <cusip>48128B648</cusip>
        <identifiers>
          <isin value="US48128B6487"/>
          <ticker value="JPM C"/>
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        <balance>4928786.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>124648997.94000000</valUSD>
        <pctVal>0.951761086152</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EP</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>
        
        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>LINCOLN NATIONAL CORP</name>
        <lei>EFQMQROEDSNBRIP7LE47</lei>
        <title>LINCOLN NATIONAL CORP DEPOSITARY SHARES EACH REPRESENTING A 1/1,000TH INTEREST IN A SHARE OF THE ISSUERS 9.000% NON-CUMULATIVE PREFERRED STOCK, SERIE</title>
        <cusip>534187885</cusip>
        <identifiers>
          <isin value="US5341878859"/>
          <ticker value="LNC D"/>
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        <balance>1362035.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>35467391.40000000</valUSD>
        <pctVal>0.270812309121</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EP</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>
        
        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>ADAMAS TRUST INC</name>
        <lei>549300JFGR0M7ULHWG48</lei>
        <title>ADAMAS TRUST INC 7.875% SERIES E FIXED-TO-FLOATING RATE CUMULATIVE REDEEMABLE PREFERRED STOCK</title>
        <cusip>649604873</cusip>
        <identifiers>
          <isin value="US6496048736"/>
          <ticker value="ADAMM"/>
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        <balance>496594.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>12563828.20000000</valUSD>
        <pctVal>0.095931479365</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EP</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>
        
        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>WEBSTER FINANCIAL CORP</name>
        <lei>KMRURHT0VWKYS6Z5KU67</lei>
        <title>WEBSTER FINANCIAL CORP DEPOSITARY SHARES, EACH REPRESENTING A 1/40TH INTEREST IN A SHARE OF 6.50% SERIES G NON-CUMULATIVE PERPETUAL PREFERRED STOCK</title>
        <cusip>947890703</cusip>
        <identifiers>
          <isin value="US9478907036"/>
          <ticker value="WBS G"/>
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        <balance>359605.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>8364412.30000000</valUSD>
        <pctVal>0.063866715876</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EP</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>
        
        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>UMB FINANCIAL CORP</name>
        <lei>549300MGEH3N3CUCV828</lei>
        <title>UMB FINANCIAL CORP DEP SHS ECH REP A 1/400TH INT 7.750% FIXED NON-CUMULATIVE PREF STOCK SER B</title>
        <cusip>902788405</cusip>
        <identifiers>
          <isin value="US9027884058"/>
          <ticker value="UMBFO"/>
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        <balance>799288.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>21077224.56000000</valUSD>
        <pctVal>0.160935767409</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EP</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>
        
        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>ORACLE CORP</name>
        <lei>1Z4GXXU7ZHVWFCD8TV52</lei>
        <title>ORACLE CORP DEPOSITARY SHARES EACH REPRESENTING A 1/2,000TH INTEREST IN A SHARE OF 6.50% SERIES D MANDATORY CONVERTIBLE PREFERRED STOCK</title>
        <cusip>68389X204</cusip>
        <identifiers>
          <isin value="US68389X2045"/>
          <ticker value="ORCLPD"/>
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        <balance>6655850.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>299180457.50000000</valUSD>
        <pctVal>2.284401173628</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EP</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>
        
        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>BANK OF AMERICA CORP</name>
        <lei>9DJT3UXIJIZJI4WXO774</lei>
        <title>BANK OF AMERICA CORP DEPOSITARY SHARES,EACH REPRESENTING A 1/1,000TH INTEREST IN A SHARE OF 5.000% NON-CUMULATIVE PREFERRED STOCK, SERIES LL</title>
        <cusip>06055H202</cusip>
        <identifiers>
          <isin value="US06055H2022"/>
          <ticker value="BAC N"/>
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        <balance>2457342.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>49343427.36000000</valUSD>
        <pctVal>0.376763189393</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EP</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>
        
        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>BROOKFIELD BRP HOLDINGS (CANADA) INC</name>
        <lei>549300NSPD7QJ50GZW26</lei>
        <title>BROOKFIELD BRP HOLDINGS (CANADA) INC 4.875% PERPETUAL SUBORDINATED NOTES</title>
        <cusip>11259P208</cusip>
        <identifiers>
          <isin value="US11259P2083"/>
          <ticker value="BEPI"/>
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        <balance>692626.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>10465578.86000000</valUSD>
        <pctVal>0.079910234880</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EP</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>CA</invCountry>
        <isRestrictedSec>N</isRestrictedSec>
        
        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>FLAGSTAR BANK NA</name>
        <lei>SS1TRMSN6BRNMOREEV51</lei>
        <title>FLAGSTAR BANK NA DEPOSITARY SHARES, EACH REPRESENTING A 1/40TH INTEREST IN A SHARE OF WFIXED-TO-FLOATING RATE SERIES A NONCUMULATIVE PERPETUAL PREFERR</title>
        <cusip>649445202</cusip>
        <identifiers>
          <isin value="US6494452021"/>
          <ticker value="FLG A"/>
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        <balance>1366516.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>31498193.80000000</valUSD>
        <pctVal>0.240505384225</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EP</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>
        
        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>FIFTH THIRD BANCORP</name>
        <lei>THRNG6BD57P9QWTQLG42</lei>
        <title>FIFTH THIRD BANCORP DEPOSITARY SHARES REPRESENTING A 1/1000TH OWNERSHIP INTEREST IN A SHARE OF 6.625% FIXED TO FLOATING RATE NON CUMULATIVE PERPETUAL</title>
        <cusip>316773605</cusip>
        <identifiers>
          <isin value="US3167736053"/>
          <ticker value="FITBI"/>
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        <balance>1198794.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>30221596.74000000</valUSD>
        <pctVal>0.230757889865</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EP</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>
        
        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>DIGITALBRIDGE GROUP INC</name>
        <lei>549300XG87L902AGBO89</lei>
        <title>DIGITALBRIDGE GROUP INC 7.15% SERIES I CUMULATIVE REDEEMABLE PERPETUAL PREFERRED STOCK</title>
        <cusip>25401T405</cusip>
        <identifiers>
          <isin value="US25401T4058"/>
          <ticker value="DBRG I"/>
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        <balance>852176.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>12722987.68000000</valUSD>
        <pctVal>0.097146746251</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EP</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>
        
        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>BANK OF HAWAII CORP</name>
        <lei>5493006Q8BQ8AD8M2U33</lei>
        <title>BANK OF HAWAII CORP DEPOSITARY SHARES, EACH REPRESENTING A 1/40TH INTEREST IN A SHARE OF 8.000% NON-CUMULATIVE PERPETUAL PREFERRED STOCK, SERIES B</title>
        <cusip>062540307</cusip>
        <identifiers>
          <isin value="US0625403078"/>
          <ticker value="BOH B"/>
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        <balance>447100.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>11749788.00000000</valUSD>
        <pctVal>0.089715851501</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EP</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>
        
        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>T-MOBILE USA INC</name>
        <lei>549300V2JRLO5DIFGE82</lei>
        <title>T-MOBILE USA INC 6.250% SENIOR NOTES DUE SEPTEMBER 1, 2069</title>
        <cusip>87264A105</cusip>
        <identifiers>
          <isin value="US87264A1051"/>
          <ticker value="TMUSL"/>
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        <balance>1041140.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>24185682.20000000</valUSD>
        <pctVal>0.184670487051</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EP</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>
        
        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>ACRES COMMERCIAL REALTY CORP</name>
        <lei>549300RUJWPCMY4JFR46</lei>
        <title>ACRES COMMERCIAL REALTY CORP 7.875% SERIES D CUMULATIVE REDEEMABLE PREFERRED STOCK</title>
        <cusip>00489Q300</cusip>
        <identifiers>
          <isin value="US00489Q3002"/>
          <ticker value="ACR D"/>
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        <balance>300189.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>6556127.76000000</valUSD>
        <pctVal>0.050059506140</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EP</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>
        
        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>SOUTHERN COMPANY (THE)</name>
        <lei>549300FC3G3YU2FBZD92</lei>
        <title>SOUTHERN COMPANY (THE) CALLABLE JUNIOR SUBORDINATED NOTES DUE MARCH 15, 2085</title>
        <cusip>842587867</cusip>
        <identifiers>
          <isin value="US8425878670"/>
          <ticker value="SOJF"/>
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        <balance>1494961.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>37403924.22000000</valUSD>
        <pctVal>0.285598762367</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EP</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>
        
        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>GLADSTONE INVESTMENT CORP</name>
        <lei>549300HFFTVIBC98Z362</lei>
        <title>GLADSTONE INVESTMENT CORP CALLABLE 4.875% NOTES DUE NOVEMBER 1, 2028</title>
        <cusip>376546883</cusip>
        <identifiers>
          <isin value="US3765468836"/>
          <ticker value="GAINZ"/>
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        <balance>352913.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>8395800.27000000</valUSD>
        <pctVal>0.064106379643</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EP</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>
        
        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>ATLANTIC UNION BANKSHARES CORP</name>
        <lei>N/A</lei>
        <title>ATLANTIC UNION BANKSHARES CORP DEPOSITARY SHARES EACH REPRESENTING A 1/400TH INTEREST IN A SHARE OF 6.875% PERPETUAL NON-CUMULATIVE PREFERRED SHARES S</title>
        <cusip>04911A206</cusip>
        <identifiers>
          <isin value="US04911A2069"/>
          <ticker value="AUB A"/>
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        <balance>463546.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>11222448.66000000</valUSD>
        <pctVal>0.085689336476</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EP</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>
        
        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>PENNYMAC MORTGAGE INVESTMENT TRUST</name>
        <lei>549300BSSOQO1ZWDUJ97</lei>
        <title>PENNYMAC MORTGAGE INVESTMENT TRUST 8.125% SERIES A CUMULATIVE REDEEMABLE PREFERRED SHARES OF BENEFICIAL INTEREST</title>
        <cusip>70931T301</cusip>
        <identifiers>
          <isin value="US70931T3014"/>
          <ticker value="PMT A"/>
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        <balance>306303.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>6741729.03000000</valUSD>
        <pctVal>0.051476670091</pctVal>
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        <fairValLevel>1</fairValLevel>
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      <invstOrSec>
        <name>NEXTERA ENERGY INC</name>
        <lei>254900RHL9MEUS5NKX63</lei>
        <title>NEE 7.375 02/15/29</title>
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        <valUSD>146879291.10000000</valUSD>
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        <payoffProfile>Long</payoffProfile>
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        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>
        
        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>JP MORGAN CHASE &amp; COMPANY</name>
        <lei>8I5DZWZKVSZI1NUHU748</lei>
        <title>JP MORGAN CHASE &amp; COMPANY DEPOSITARY SHARES, EACH REPRESENTING A 1/400TH INTEREST IN A SHARE OF JPMORGAN CHASE &amp; CO. 4.20% NON-CUMULATIVE PREFERRED ST</title>
        <cusip>48128B523</cusip>
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          <isin value="US48128B5232"/>
          <ticker value="JPM M"/>
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        <balance>5307892.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>91136505.64000000</valUSD>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>EP</assetCat>
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        <fairValLevel>1</fairValLevel>
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      <invstOrSec>
        <name>MAIDEN HOLDINGS LTD</name>
        <lei>5493000GQUKNWGNXRZ91</lei>
        <title>MAIDEN HOLDINGS LTD 6.625% NOTES DUE 2046</title>
        <cusip>560292302</cusip>
        <identifiers>
          <isin value="US5602923022"/>
          <ticker value="MHLA"/>
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        <balance>282251.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>3152743.67000000</valUSD>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>EP</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>BM</invCountry>
        
        <isRestrictedSec>N</isRestrictedSec>
        
        <fairValLevel>1</fairValLevel>
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        <name>SEMPRA</name>
        <lei>PBBKGKLRK5S5C0Y4T545</lei>
        <title>SEMPRA 5.75% JUNIOR SUBORDINATED NOTES DUE JULY 1, 2079</title>
        <cusip>816851604</cusip>
        <identifiers>
          <isin value="US8168516040"/>
          <ticker value="SREA"/>
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        <balance>2011875.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>41967712.50000000</valUSD>
        <pctVal>0.320445701870</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EP</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>
        
        <fairValLevel>1</fairValLevel>
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        <name>ANNALY CAPITAL MANAGEMENT INC</name>
        <lei>2DTL0G3FPRYUT58TI025</lei>
        <title>ANNALY CAPITAL MANAGEMENT INC 8.875% SERIES J FIXED-RATE CUMULATIVE REDEEMABLE PREFERRED STOCK</title>
        <cusip>035710821</cusip>
        <identifiers>
          <isin value="US0357108218"/>
          <ticker value="NLY J"/>
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        <balance>732720.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>18589106.40000000</valUSD>
        <pctVal>0.141937668094</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EP</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>
        
        <fairValLevel>1</fairValLevel>
        <securityLending>
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      <invstOrSec>
        <name>NATIONAL RURAL UTILITIES COOPERATIVE FINANCE CORP</name>
        <lei>4NYF266XZC35SCTGX023</lei>
        <title>NATIONAL RURAL UTILITIES COOPERATIVE FINANCE CORP SUBORDINATED DEFERRABLE INTEREST NOTES DUE 05/15/2064</title>
        <cusip>637432105</cusip>
        <identifiers>
          <isin value="US6374321056"/>
          <ticker value="NRUC"/>
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        <balance>660412.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>14984748.28000000</valUSD>
        <pctVal>0.114416485767</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EP</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>
        
        <fairValLevel>1</fairValLevel>
        <securityLending>
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        <name>BROOKFIELD RENEWABLE PARTNERS LP</name>
        <lei>VA8DFMRI2GY8Y7V79H93</lei>
        <title>BROOKFIELD RENEWABLE PARTNERS LP 5.25% CLASS A PREFERRED LIMITED PARTNERSHIP UNITS, SERIES 17</title>
        <cusip>000000000</cusip>
        <identifiers>
          <isin value="BMG162582313"/>
          <ticker value="BEP A"/>
          <other otherDesc="SEDOL" value="BL0FH99"/>
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        <balance>535425.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>8647113.75000000</valUSD>
        <pctVal>0.066025291103</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EP</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>BM</invCountry>
        
        <isRestrictedSec>N</isRestrictedSec>
        
        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>AFFILIATED MANAGERS GROUP INC</name>
        <lei>2JE75BUE3T1BLCYYGK54</lei>
        <title>AFFILIATED MANAGERS GROUP INC FIXED JUNIOR SUBORDINATED NOTES DUE MARCH 30, 2064</title>
        <cusip>008252827</cusip>
        <identifiers>
          <isin value="US0082528276"/>
          <ticker value="MGRE"/>
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        <balance>1191454.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>27331954.76000000</valUSD>
        <pctVal>0.208693943625</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EP</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>
        
        <fairValLevel>1</fairValLevel>
        <securityLending>
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          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>KEYCORP</name>
        <lei>RKPI3RZGV1V1FJTH5T61</lei>
        <title>KEYCORP DEP SHS EACH REP A 1/40TH OWNERSHIP INT IN SHS OF FIXED-RATE PERPL NON CUMULATIVE PFD STOCK SERIES F</title>
        <cusip>493267876</cusip>
        <identifiers>
          <isin value="US4932678760"/>
          <ticker value="KEY J"/>
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        <balance>1132225.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>23629535.75000000</valUSD>
        <pctVal>0.180424014491</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EP</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>
        
        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>COMPASS DIVERSIFIED HOLDINGS</name>
        <lei>5299001SM1LBYANJRR58</lei>
        <title>COMPASS DIVERSIFIED HOLDINGS 7.250% SERIES A PREFERRED SHARES</title>
        <cusip>20451Q203</cusip>
        <identifiers>
          <isin value="US20451Q2030"/>
          <ticker value="CODI A"/>
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        <balance>304995.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>5977902.00000000</valUSD>
        <pctVal>0.045644446361</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EP</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>
        
        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>CITIGROUP CAPITAL XIII</name>
        <lei>N/A</lei>
        <title>CITIGROUP CAPITAL XIII FIXED/FLOAT TRUST PREFERRED SECURITIES</title>
        <cusip>173080201</cusip>
        <identifiers>
          <isin value="US1730802014"/>
          <ticker value="C N"/>
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        <balance>5983821.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>172034853.75000000</valUSD>
        <pctVal>1.313577180459</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EP</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>
        
        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>ARBOR REALTY TRUST INC</name>
        <lei>549300ASFUWYQO0RW077</lei>
        <title>ARBOR REALTY TRUST INC 6.375% SERIES D CUMULATIVE REDEEMABLE PREFERRED STOCK</title>
        <cusip>038923876</cusip>
        <identifiers>
          <isin value="US0389238769"/>
          <ticker value="ABR D"/>
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        <balance>622146.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>9929450.16000000</valUSD>
        <pctVal>0.075816608439</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EP</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>
        
        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>ATHENE HOLDING LTD</name>
        <lei>549300H316CT32FQXI76</lei>
        <title>ATHENE HOLDING LTD DEPOSITARY SHARES EACH REPRESENTING A 1/1,000TH INTEREST IN A SHARE OF THE ISSUERS 4.875% FIXED-RATE PERPETUAL NON-CUMULATIVE PREFE</title>
        <cusip>04686J408</cusip>
        <identifiers>
          <isin value="US04686J4085"/>
          <ticker value="ATH D"/>
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        <balance>1515530.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>24021150.50000000</valUSD>
        <pctVal>0.183414200421</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EP</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>
        
        <fairValLevel>1</fairValLevel>
        <securityLending>
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          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>MERCHANTS BANCORP (INDIANA)</name>
        <lei>54930008Y0GPVLF81889</lei>
        <title>MERCHANTS BANCORP (INDIANA) DEP SHS REPSTG 1/40TH PERP PFD SER C</title>
        <cusip>58844R702</cusip>
        <identifiers>
          <isin value="US58844R7026"/>
          <ticker value="MBINN"/>
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        <balance>516227.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>10118049.20000000</valUSD>
        <pctVal>0.077256661950</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EP</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>
        
        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>BROOKFIELD FINANCE INC</name>
        <lei>549300XH8D8K6OYWGD17</lei>
        <title>BROOKFIELD FINANCE INC SUBORDINATED NOTES DUE OCTOBER 16, 2080</title>
        <cusip>11271L102</cusip>
        <identifiers>
          <isin value="US11271L1026"/>
          <ticker value="BNH"/>
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        <balance>1065724.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>16199004.80000000</valUSD>
        <pctVal>0.123687977102</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EP</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>CA</invCountry>
        <isRestrictedSec>N</isRestrictedSec>
        
        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>MERCHANTS BANCORP (INDIANA)</name>
        <lei>54930008Y0GPVLF81889</lei>
        <title>MERCHANTS BANCORP (INDIANA) DEPOSITARY SHARES EACH REPRESENTING A 1/40TH INTEREST IN A SHARE OF THE COMPANYS 8.25% FIXED-RATE RESET SERIES D NON-CUMU</title>
        <cusip>58844R884</cusip>
        <identifiers>
          <isin value="US58844R8842"/>
          <ticker value="MBINM"/>
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        <balance>374348.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>9396134.80000000</valUSD>
        <pctVal>0.071744463338</pctVal>
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        <assetCat>EP</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>
        
        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>ARMOUR RESIDENTIAL REIT INC</name>
        <lei>549300K0WA0EJUX74V72</lei>
        <title>ARMOUR RESIDENTIAL REIT INC 7.00% SERIES C CUMULATIVE REDEEMABLE PREFERRED STOCK</title>
        <cusip>042315606</cusip>
        <identifiers>
          <isin value="US0423156068"/>
          <ticker value="ARR C"/>
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        <balance>485266.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>10064416.84000000</valUSD>
        <pctVal>0.076847150490</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EP</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>
        
        <fairValLevel>1</fairValLevel>
        <securityLending>
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          <isNonCashCollateral>N</isNonCashCollateral>
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      <invstOrSec>
        <name>CMS ENERGY CORP</name>
        <lei>549300IA9XFBAGNIBW29</lei>
        <title>CMS ENERGY CORP 5.875% FIXED RATE JUNIOR SUBORDINATED NOTES DUE ON 3/1/2079</title>
        <cusip>125896845</cusip>
        <identifiers>
          <isin value="US1258968452"/>
          <ticker value="CMSD"/>
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        <balance>1672571.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>36629304.90000000</valUSD>
        <pctVal>0.279684133789</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EP</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>
        
        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>AGNC INVESTMENT CORP</name>
        <lei>5TRACI5HRMELWV32OF39</lei>
        <title>AGNC INVESTMENT CORP DEPOSITARY SHARES EACH REPRESENTING A 1/1,000 TH INTEREST IN A SHARE OF 7.00% SERIES C FIXED-TO-FLOATING RATE CUMULATIVE REDEEMAB</title>
        <cusip>00123Q500</cusip>
        <identifiers>
          <isin value="US00123Q5009"/>
          <ticker value="AGNCN"/>
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        <balance>865790.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>22181539.80000000</valUSD>
        <pctVal>0.169367798871</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EP</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>
        
        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>SOUTHERN COMPANY (THE)</name>
        <lei>549300FC3G3YU2FBZD92</lei>
        <title>SO 7.125 12/15/28 A</title>
        <cusip>842587842</cusip>
        <identifiers>
          <isin value="US8425878423"/>
          <ticker value="SOMN"/>
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        <balance>2661544.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>132385198.56000000</valUSD>
        <pctVal>1.010831073287</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EP</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>
        
        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>STRATEGY INC</name>
        <lei>549300WQTWEJUEHXQX21</lei>
        <title>STRATEGY INC 8.00% SERIES A PERPETUAL STRIKE PREFERRED STOCK</title>
        <cusip>594972887</cusip>
        <identifiers>
          <isin value="US5949728878"/>
          <ticker value="STRK"/>
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        <balance>724948.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>42641441.36000000</valUSD>
        <pctVal>0.325589978376</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EP</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>
        
        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>CHIMERA INVESTMENT CORP</name>
        <lei>2JBBQFJOL123LOUBE657</lei>
        <title>CHIMERA INVESTMENT CORP 8% SERIES D FIXED-TO-FLOATING RATE CUMULATIVE REDEEMABLE PREFERRED STOCK</title>
        <cusip>16934Q604</cusip>
        <identifiers>
          <isin value="US16934Q6044"/>
          <ticker value="CIM D"/>
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        <balance>532853.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>12415474.90000000</valUSD>
        <pctVal>0.094798723384</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EP</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>
        
        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>PUBLIC STORAGE</name>
        <lei>254900GLQZAD4N7N5Q19</lei>
        <title>PUBLIC STORAGE DEPOSITARY SHARES EACH REPRESENTING 1/1000 OF A 4.100% CUMULATIVE PREFERRED SHARE OF BENEFICIAL INTEREST SERIES S</title>
        <cusip>74460W396</cusip>
        <identifiers>
          <isin value="US74460W3960"/>
          <ticker value="PSA S"/>
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        <balance>646819.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>10116249.16000000</valUSD>
        <pctVal>0.077242917692</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EP</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>
        
        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <loanByFundCondition isLoanByFund="Y" loanVal="10948.00000000"/>
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      </invstOrSec>
      <invstOrSec>
        <name>HUNTINGTON BANCSHARES INC</name>
        <lei>549300XTVCVV9I7B5T19</lei>
        <title>HUNTINGTON BANCSHARES INC DEPOSITARY SHARES, EACH REPRESENTING A 1/40TH INTEREST IN A SHARE OF 6.875% SERIES J NON-CUMULATIVE PERPETUAL PREFERRED STOC</title>
        <cusip>446150773</cusip>
        <identifiers>
          <isin value="US4461507737"/>
          <ticker value="HBANL"/>
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        <balance>862521.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>21623401.47000000</valUSD>
        <pctVal>0.165106117253</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EP</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>
        
        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>FEDERAL AGRICULTURAL MORTGAGE CORP</name>
        <lei>549300MS654K78GYF580</lei>
        <title>FEDERAL AGRICULTURAL MORTGAGE CORP 5.250% NON-CUMULATIVE PREFERRED STOCK SERIES F</title>
        <cusip>313148843</cusip>
        <identifiers>
          <isin value="US3131488435"/>
          <ticker value="AGM F"/>
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        <balance>312730.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>5916851.60000000</valUSD>
        <pctVal>0.045178294238</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EP</assetCat>
        <issuerCat>USGSE</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>
        
        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>RITHM CAPITAL CORP</name>
        <lei>549300WNTHGEO5LP2G31</lei>
        <title>RITHM CAPITAL CORP 8.75% SERIES F FIXED-RATE RESET CUMULATIVE REDEEMABLE PREFERRED STOCK</title>
        <cusip>64828T888</cusip>
        <identifiers>
          <isin value="US64828T8889"/>
          <ticker value="RITM F"/>
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        <balance>665923.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>16415001.95000000</valUSD>
        <pctVal>0.125337229687</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EP</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>
        
        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>BABCOCK &amp; WILCOX ENTERPRISES INC</name>
        <lei>5493006H661OZN2C0T54</lei>
        <title>BABCOCK &amp; WILCOX ENTERPRISES INC 7.75% SERIES A CUMULATIVE PERPETUAL PREFERRED</title>
        <cusip>05614L407</cusip>
        <identifiers>
          <isin value="US05614L4077"/>
          <ticker value="BW A"/>
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        <balance>505005.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>11120210.10000000</valUSD>
        <pctVal>0.084908690947</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EP</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>
        
        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <loanByFundCondition isLoanByFund="Y" loanVal="99090.00000000"/>
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      <invstOrSec>
        <name>ELLINGTON FINANCIAL INC</name>
        <lei>60GS1D1R1YY5G1W7IT74</lei>
        <title>ELLINGTON FINANCIAL INC 6.250% SERIES B FIXED-RATE RESET CUMULATIVE REDEEMABLE PREFERRED STOCK</title>
        <cusip>28852N307</cusip>
        <identifiers>
          <isin value="US28852N3070"/>
          <ticker value="EFC B"/>
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        <balance>321153.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>7784748.72000000</valUSD>
        <pctVal>0.059440677579</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EP</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>
        
        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>MIDLAND STATES BANCORP INC</name>
        <lei>5493006RHXW9TTBWYC94</lei>
        <title>MIDLAND STATES BANCORP INC DEPOSITARY SHARES, EACH REPRESENTING A 1/40TH INTEREST IN A SHARE OF 7.750% FIXED-RATE RESET NON-CUMULATIVE PERPETUAL PREFE</title>
        <cusip>597742303</cusip>
        <identifiers>
          <isin value="US5977423038"/>
          <ticker value="MSBIP"/>
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        <balance>306301.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>7626894.90000000</valUSD>
        <pctVal>0.058235380098</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EP</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>
        
        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>ENTERGY ARKANSAS LLC</name>
        <lei>549300A0I5ONUIFMLP35</lei>
        <title>ENTERGY ARKANSAS LLC FIRST MORTGAGE BONDS, 4.875% SERIES DUE SEPTEMBER 1, 2066</title>
        <cusip>29364D100</cusip>
        <identifiers>
          <isin value="US29364D1000"/>
          <ticker value="EAI"/>
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        <balance>1092276.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>21812751.72000000</valUSD>
        <pctVal>0.166551906650</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EP</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>
        
        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <loanByFundCondition isLoanByFund="Y" loanVal="337493.00000000"/>
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      </invstOrSec>
      <invstOrSec>
        <name>LXP INDUSTRIAL TRUST</name>
        <lei>549300S4MH2ICXDBFV43</lei>
        <title>LXP INDUSTRIAL TRUST 6.5% SERIES C CUMULATIVE CONVERTIBLE PREFERRED STOCK</title>
        <cusip>529043309</cusip>
        <identifiers>
          <isin value="US5290433094"/>
          <ticker value="LXPPC"/>
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        <balance>128910.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>5866694.10000000</valUSD>
        <pctVal>0.044795315173</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EP</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>
        
        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>FEDERAL AGRICULTURAL MORTGAGE CORP</name>
        <lei>549300MS654K78GYF580</lei>
        <title>FEDERAL AGRICULTURAL MORTGAGE CORP 6.500% NON-CUMULATIVE PREFERRED STOCK, SERIES H</title>
        <cusip>313148827</cusip>
        <identifiers>
          <isin value="US3131488278"/>
          <ticker value="AGM H"/>
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        <balance>260937.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>6168550.68000000</valUSD>
        <pctVal>0.047100149958</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EP</assetCat>
        <issuerCat>USGSE</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>
        
        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>DIME COMMERCIAL BANCSHARES INC</name>
        <lei>N/A</lei>
        <title>DIME COMMERCIAL BANCSHARES INC 5.50% FIXED-RATE NON-CUMULATIVE PERPETUAL PREFERRED STOCK, SERIES A</title>
        <cusip>25432X201</cusip>
        <identifiers>
          <isin value="US25432X2018"/>
          <ticker value="DCOMP"/>
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        <balance>345827.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>6041597.69000000</valUSD>
        <pctVal>0.046130796673</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EP</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>
        
        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>AGREE REALTY CORP</name>
        <lei>98450090H010B37OEB68</lei>
        <title>AGREE REALTY CORP DEPOSITARY SHARES EACH REPRESENTING 1/1000TH OF A SHARE OF 4.250% SERIES A CUMULATIVE REDEEMABLE PREFERRED STOCK</title>
        <cusip>008492209</cusip>
        <identifiers>
          <isin value="US0084922097"/>
          <ticker value="ADC A"/>
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        <balance>466303.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>7931814.03000000</valUSD>
        <pctVal>0.060563599075</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EP</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>
        
        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>DIVERSIFIED HEALTHCARE TRUST</name>
        <lei>N/A</lei>
        <title>DIVERSIFIED HEALTHCARE TRUST 5.625% SENIOR NOTES DUE 08/01/2042</title>
        <cusip>25525P206</cusip>
        <identifiers>
          <isin value="US25525P2065"/>
          <ticker value="DHCNI"/>
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        <balance>932358.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>16614619.56000000</valUSD>
        <pctVal>0.126861415813</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EP</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>
        
        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>F&amp;G ANNUITIES &amp; LIFE INC</name>
        <lei>N/A</lei>
        <title>F&amp;G ANNUITIES &amp; LIFE INC CALLABLE FIXED FOR LIFE JUNIOR SUBORDINATED NOTES DUE JANUARY 15, 2065</title>
        <cusip>30190A609</cusip>
        <identifiers>
          <isin value="US30190A6091"/>
          <ticker value="FGSN"/>
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        <balance>1012645.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>20789601.85000000</valUSD>
        <pctVal>0.158739615756</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EP</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>
        
        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>ANNALY CAPITAL MANAGEMENT INC</name>
        <lei>2DTL0G3FPRYUT58TI025</lei>
        <title>ANNALY CAPITAL MANAGEMENT INC 6.95% SERIES F FIXED-TO-FLOATING RATE CUMULATIVE REDEEMABLE PREFERRED STOCK</title>
        <cusip>035710870</cusip>
        <identifiers>
          <isin value="US0357108705"/>
          <ticker value="NLY F"/>
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        <balance>1918294.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>48782216.42000000</valUSD>
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        <assetCat>EP</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>
        
        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
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      <invstOrSec>
        <name>CHARLES SCHWAB CORP (THE)</name>
        <lei>549300VSGCJ7E698NM85</lei>
        <title>CHARLES SCHWAB CORP (THE) DEPOSITARY SHARES, EACH REPRESENTING A 1/40TH INTEREST IN A SHARE OF 5.95% NON-CUMULATIVE PERPETUAL PREFERRED STOCK, SERIES</title>
        <cusip>808513600</cusip>
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          <isin value="US8085136005"/>
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        <balance>1998120.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>48334522.80000000</valUSD>
        <pctVal>0.369059668982</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EP</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>
        
        <fairValLevel>1</fairValLevel>
        <securityLending>
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          <isNonCashCollateral>N</isNonCashCollateral>
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      <invstOrSec>
        <name>ARCH CAPITAL GROUP LTD</name>
        <lei>549300AYR4P8AFKDCE43</lei>
        <title>ARCH CAPITAL GROUP LTD DEPOSITARY SHARES EACH REPRESENTING A 1/1,000TH INTEREST IN A SHARE OF THE ISSUERS 4.550% NON-CUMULATIVE PREFERRED SHARES, SERI</title>
        <cusip>03939A404</cusip>
        <identifiers>
          <isin value="US03939A4040"/>
          <ticker value="ACGLN"/>
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        <balance>1323742.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>21576994.60000000</valUSD>
        <pctVal>0.164751776233</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EP</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>BM</invCountry>
        
        <isRestrictedSec>N</isRestrictedSec>
        
        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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        <name>OLD NATIONAL BANCORP</name>
        <lei>549300MMK90CL5KMVX16</lei>
        <title>OLD NATIONAL BANCORP DEPOSITARY SHARES EACH REPRESENTING A 1/40TH INTEREST IN A SHARE OF FIXED RATE NON-CUMULATIVE PERPETUAL PREFERRED STOCK, SERIES C</title>
        <cusip>68003D303</cusip>
        <identifiers>
          <isin value="US68003D3035"/>
          <ticker value="ONBPO"/>
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        <balance>326354.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>8067470.88000000</valUSD>
        <pctVal>0.061599410939</pctVal>
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        <assetCat>EP</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>
        
        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>SAUL CENTERS INC</name>
        <lei>N/A</lei>
        <title>SAUL CENTERS INC DEPOSITARY SHARES EACH REPRESENTING 1/100TH OF A SHARE OF 6.000% SERIES E CUMULATIVE REDEEMABLE PREFERRED STOCK</title>
        <cusip>804395879</cusip>
        <identifiers>
          <isin value="US8043958797"/>
          <ticker value="BFS E"/>
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        <balance>293127.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>6305161.77000000</valUSD>
        <pctVal>0.048143247950</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EP</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>
        
        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <loanByFundCondition isLoanByFund="Y" loanVal="337707.00000000"/>
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      </invstOrSec>
      <invstOrSec>
        <name>NEXTERA ENERGY CAPITAL HOLDINGS INC</name>
        <lei>UMI46YPGBLUE4VGNNT48</lei>
        <title>NEXTERA ENERGY CAPITAL HOLDINGS INC SERIES U JUNIOR SUBORDINATED DEBENTURES DUE JUNE 1, 2085</title>
        <cusip>65339K837</cusip>
        <identifiers>
          <isin value="US65339K8374"/>
          <ticker value="NEE U"/>
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        <balance>2319650.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>56437084.50000000</valUSD>
        <pctVal>0.430927016909</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EP</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>
        
        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>TELEPHONE &amp; DATA SYSTEMS INC</name>
        <lei>5299003YZW5BE2NNLO37</lei>
        <title>TELEPHONE &amp; DATA SYSTEMS INC DEPOSITARY SHARES EACH REPRESENTING A 1/1,000 INTEREST IN A SHARE OF TELEPHONE AND DATA SYSTEMS, INC.S 6.625% SERIES UU C</title>
        <cusip>879433787</cusip>
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          <isin value="US8794337878"/>
          <ticker value="TDS U"/>
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        <curCd>USD</curCd>
        <valUSD>22614106.32000000</valUSD>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>EP</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>
        
        <fairValLevel>1</fairValLevel>
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      <invstOrSec>
        <name>BRIGHTHOUSE FINANCIAL INC</name>
        <lei>5493003T8SZSHOGGAW52</lei>
        <title>BRIGHTHOUSE FINANCIAL INC DEPOSITARY SHARES EACH REPRESENTING A 1/1,000TH INTEREST IN A SHARE OF 6.600% NON-CUMULATIVE PREFERRED STOCK,SERIES A</title>
        <cusip>10922N301</cusip>
        <identifiers>
          <isin value="US10922N3017"/>
          <ticker value="BHFAP"/>
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        <balance>1123082.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>16520536.22000000</valUSD>
        <pctVal>0.126143039706</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EP</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
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        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>FIRST HORIZON CORP</name>
        <lei>TF3RXI1ZB1TQ30H9JV10</lei>
        <title>FIRST HORIZON CORP DEPOSITARY SHARES EACH REPRESENTING 1/4,000TH INTEREST IN A SHARE OF NON-CUMULATIVE PERPETUAL PREFERRED STOCK, SERIES E</title>
        <cusip>320517402</cusip>
        <identifiers>
          <isin value="US3205174028"/>
          <ticker value="FHN E"/>
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        <balance>399504.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>9380353.92000000</valUSD>
        <pctVal>0.071623967965</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EP</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>
        
        <fairValLevel>1</fairValLevel>
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          <isCashCollateral>N</isCashCollateral>
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      </invstOrSec>
      <invstOrSec>
        <name>WINTRUST FINANCIAL CORP</name>
        <lei>Q774KI4AW80FHFW33O61</lei>
        <title>WINTRUST FINANCIAL CORP DEPOSITARY SHARES EACH REPRESENTING A 1/1,000TH INTEREST IN A SHARE OF 7.875% FIXED-RATE RESET NON-CUMULATIVE PERPETUAL PREFER</title>
        <cusip>97650W702</cusip>
        <identifiers>
          <isin value="US97650W7020"/>
          <ticker value="WTFCN"/>
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        <balance>1128825.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>29563926.75000000</valUSD>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>EP</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>
        
        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>SLM CORP (SALLIE MAE)</name>
        <lei>N/A</lei>
        <title>SLM CORP (SALLIE MAE) FLOATING-RATE NON-CUMULATIVE PREFERRED STOCK, SERIES B</title>
        <cusip>78442P502</cusip>
        <identifiers>
          <isin value="US78442P5026"/>
          <ticker value="SLMBP"/>
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        <balance>170236.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>12580440.40000000</valUSD>
        <pctVal>0.096058322307</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EP</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>
        
        <fairValLevel>1</fairValLevel>
        <securityLending>
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          <isNonCashCollateral>N</isNonCashCollateral>
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        <name>BLACKROCK CASH FUNDS</name>
        <lei>N/A</lei>
        <title>BLACKROCK CASH FUNDS</title>
        <cusip>000000000</cusip>
        <identifiers>
          <other otherDesc="INTERNAL" value="980SNC002"/>
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        <balance>146430560.77000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>146430560.77000000</valUSD>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>STIV</assetCat>
        <issuerCat>RF</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>
        
        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
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      <invstOrSec>
        <name>GLOBE LIFE INC</name>
        <lei>5493001JFHKQOPP6XA71</lei>
        <title>GLOBE LIFE INC 4.250% JUNIOR SUBORDINATED DEBENTURES DUE JUNE 15, 2061</title>
        <cusip>37959E300</cusip>
        <identifiers>
          <isin value="US37959E3009"/>
          <ticker value="GL D"/>
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        <balance>857302.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>13030990.40000000</valUSD>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>EP</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>
        
        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>ASSOCIATED BANC-CORP</name>
        <lei>549300N3CIN473IW5094</lei>
        <title>ASSOCIATED BANC-CORP DEPOSITARY SHARES, EACH REPRESENTING A 1/40TH INTEREST IN A SHARE OF ASSOCIATED BANC-CORP 5.625% NON-CUMULATIVE PERPETUAL PREFERR</title>
        <cusip>045487402</cusip>
        <identifiers>
          <isin value="US0454874027"/>
          <ticker value="ASB F"/>
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        <balance>266400.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>5138856.00000000</valUSD>
        <pctVal>0.039237885975</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EP</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>
        
        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>ASPEN INSURANCE HOLDINGS LTD</name>
        <lei>549300YX6HECG9XQCQ75</lei>
        <title>ASPEN INSURANCE HOLDINGS LTD 5.625%NON CUM PERP PFD SHS</title>
        <cusip>000000000</cusip>
        <identifiers>
          <isin value="BMG053841620"/>
          <ticker value="AHL D"/>
          <other otherDesc="SEDOL" value="BD915N2"/>
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        <balance>525687.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>9809319.42000000</valUSD>
        <pctVal>0.074899346644</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EP</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>BM</invCountry>
        
        <isRestrictedSec>N</isRestrictedSec>
        
        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>VORNADO REALTY TRUST</name>
        <lei>N/A</lei>
        <title>VORNADO REALTY TRUST 4.45% SERIES O CUMULATIVE REDEEMABLE PREFERRED SHARES OF BENEFICIAL INTEREST</title>
        <cusip>929042794</cusip>
        <identifiers>
          <isin value="US9290427940"/>
          <ticker value="VNO O"/>
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        <balance>799289.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>11589690.50000000</valUSD>
        <pctVal>0.088493422335</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EP</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>
        
        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>FIRST BUSEY CORP</name>
        <lei>549300X4ZNLYSX7GUY60</lei>
        <title>FIRST BUSEY CORP DEPOSITARY SHARES, EACH REPRESENTING A 1/40TH INTEREST IN A SHARE OF 8.25% FIXED-RATE SERIES B NON-CUMULATIVE PERPETUAL PREFERRED STO</title>
        <cusip>319383600</cusip>
        <identifiers>
          <isin value="US3193836000"/>
          <ticker value="BUSEP"/>
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        <balance>567619.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>14672951.15000000</valUSD>
        <pctVal>0.112035749619</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EP</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>
        
        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>PUBLIC STORAGE</name>
        <lei>254900GLQZAD4N7N5Q19</lei>
        <title>PUBLIC STORAGE DEPOSITARY SHARES EACH REPRESENTING 1/1000 OF A 5.60% CUMULATIVE PREFERRED SHARE OF BENEFICIAL INTEREST SERIES H</title>
        <cusip>74460W644</cusip>
        <identifiers>
          <isin value="US74460W6443"/>
          <ticker value="PSA H"/>
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        <balance>751212.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>16241203.44000000</valUSD>
        <pctVal>0.124010186057</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EP</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>
        
        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>SUMMIT HOTEL PROPERTIES INC</name>
        <lei>254900OBQWJK6X20LS71</lei>
        <title>SUMMIT HOTEL PROPERTIES INC 5.875% SERIES F CUMULATIVE REDEEMABLE PREFERRED STOCK</title>
        <cusip>866082704</cusip>
        <identifiers>
          <isin value="US8660827044"/>
          <ticker value="INN F"/>
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        <balance>266427.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>4382724.15000000</valUSD>
        <pctVal>0.033464419018</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EP</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>
        
        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>ALGONQUIN POWER &amp; UTILITIES CORP</name>
        <lei>549300K5VIUTJXQL7X75</lei>
        <title>ALGONQUIN POWER &amp; UTILITIES CORP FIXED-TO-FLOATING RATE SUBORDINATED NOTES SERIES 2019-A DUE JULY 1, 2079</title>
        <cusip>015857808</cusip>
        <identifiers>
          <isin value="US0158578080"/>
          <ticker value="AQNB"/>
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        <balance>932415.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>23767258.35000000</valUSD>
        <pctVal>0.181475599450</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EP</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>CA</invCountry>
        <isRestrictedSec>N</isRestrictedSec>
        
        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>INVESCO MORTGAGE CAPITAL INC</name>
        <lei>PV3BDP2HFZL2FNXQBL39</lei>
        <title>INVESCO MORTGAGE CAPITAL INC 7.50% FIXED-TO-FLOATING SERIES C CUMULATIVE REDEEMABLE PREFERRED STOCK.</title>
        <cusip>46131B506</cusip>
        <identifiers>
          <isin value="US46131B5066"/>
          <ticker value="IVR C"/>
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        <balance>453684.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>11196921.12000000</valUSD>
        <pctVal>0.085494420194</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EP</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>
        
        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>VORNADO REALTY TRUST</name>
        <lei>N/A</lei>
        <title>VORNADO REALTY TRUST 5.40% SERIES L CUMULATIVE REDEEMABLE PREFERRED SHARES OF BENEFICIAL INTEREST</title>
        <cusip>929042844</cusip>
        <identifiers>
          <isin value="US9290428443"/>
          <ticker value="VNO L"/>
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        <balance>799289.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>14275301.54000000</valUSD>
        <pctVal>0.108999484339</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EP</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>
        
        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>FORD MOTOR CO</name>
        <lei>20S05OYHG0MQM4VUIC57</lei>
        <title>FORD MOTOR CO 6.500% NOTES DUE AUGUST 15, 2062</title>
        <cusip>345370811</cusip>
        <identifiers>
          <isin value="US3453708113"/>
          <ticker value="F D"/>
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        <balance>1590442.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>33765083.66000000</valUSD>
        <pctVal>0.257814288356</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EP</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>
        
        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>METLIFE INC</name>
        <lei>C4BXATY60WC6XEOZDX54</lei>
        <title>METLIFE INC FLOATING RATE NON-CUMULATIVE PREFERRED STOCK, SERIES A</title>
        <cusip>59156R504</cusip>
        <identifiers>
          <isin value="US59156R5046"/>
          <ticker value="MET A"/>
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        <balance>1591017.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>33745470.57000000</valUSD>
        <pctVal>0.257664532031</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EP</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>
        
        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>BROOKFIELD INFRASTRUCTURE PARTNERS LP</name>
        <lei>549300WEH5R2OODI7Y90</lei>
        <title>BROOKFIELD INFRASTRUCTURE PARTNERS LP 5.125% CLASS A PREFERRED LIMITED PARTNERSHIP UNITS, SERIES 13</title>
        <cusip>000000000</cusip>
        <identifiers>
          <isin value="USG162522670"/>
          <ticker value="BIP A"/>
          <other otherDesc="SEDOL" value="BL55WZ5"/>
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        <balance>532853.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>8717475.08000000</valUSD>
        <pctVal>0.066562537106</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EP</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>BM</invCountry>
        
        <isRestrictedSec>N</isRestrictedSec>
        
        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>AGNC INVESTMENT CORP</name>
        <lei>5TRACI5HRMELWV32OF39</lei>
        <title>AGNC INVESTMENT CORP DEPOSITARY SHARES EACH REPRESENTING 1/1,000TH OF A SHARE OF 6.125% SERIES F FIXED-TO-FLOATING RATE CUMULATIVE REDEEMABLE PREFERRE</title>
        <cusip>00123Q872</cusip>
        <identifiers>
          <isin value="US00123Q8722"/>
          <ticker value="AGNCP"/>
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        <balance>1525121.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>38051768.95000000</valUSD>
        <pctVal>0.290545399837</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EP</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>
        
        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>RITHM CAPITAL CORP</name>
        <lei>549300WNTHGEO5LP2G31</lei>
        <title>RITHM CAPITAL CORP 6.375% SERIES C FIXED-TO-FLOATING RATE CUMULATIVE REDEEMABLE PREFERRED STOCK</title>
        <cusip>64828T508</cusip>
        <identifiers>
          <isin value="US64828T5083"/>
          <ticker value="RITM C"/>
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        <fairValLevel>1</fairValLevel>
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        <name>FRANKLIN BSP REALTY TRUST INC</name>
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        <fairValLevel>1</fairValLevel>
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        <fairValLevel>1</fairValLevel>
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        <fairValLevel>1</fairValLevel>
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        <name>FORD MOTOR CO</name>
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        <fairValLevel>1</fairValLevel>
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        <name>ADAMAS TRUST INC</name>
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        <fairValLevel>1</fairValLevel>
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        <name>MORGAN STANLEY</name>
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        <fairValLevel>1</fairValLevel>
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        <name>TWO HARBORS INVESTMENTS CORP</name>
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        <fairValLevel>1</fairValLevel>
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        <fairValLevel>1</fairValLevel>
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        <name>PUBLIC STORAGE</name>
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        <fairValLevel>1</fairValLevel>
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        <name>NEXTERA ENERGY CAPITAL HOLDINGS INC</name>
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        <fairValLevel>1</fairValLevel>
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        <name>ANNALY CAPITAL MANAGEMENT INC</name>
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        <fairValLevel>1</fairValLevel>
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        <name>ARBOR REALTY TRUST INC</name>
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        <fairValLevel>1</fairValLevel>
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        <name>VORNADO REALTY TRUST</name>
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        <fairValLevel>1</fairValLevel>
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        <name>TRITON INTERNATIONAL LTD</name>
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        <name>ENTERGY LOUISIANA LLC</name>
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          <ticker value="ELC"/>
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        <fairValLevel>1</fairValLevel>
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        <name>W. R. BERKLEY CORP</name>
        <lei>SQOAGCLKBDWNVYV1OV80</lei>
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        <fairValLevel>1</fairValLevel>
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        <name>PRUDENTIAL FINANCIAL INC</name>
        <lei>5PRBRS5FEH7NREC8OR45</lei>
        <title>PRUDENTIAL FINANCIAL INC 5.950% JUNIOR SUBORDINATED NOTES DUE SEPTEMBER 1, 2062</title>
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        <fairValLevel>1</fairValLevel>
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        <name>EL PASO ENERGY CAPITAL TRUST I</name>
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        <fairValLevel>1</fairValLevel>
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        <name>BROOKFIELD BRP HOLDINGS (CANADA) INC</name>
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        <fairValLevel>1</fairValLevel>
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        <name>NOVANTA INC</name>
        <lei>N/A</lei>
        <title>NOVT 6.5 11/01/28</title>
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        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>
        
        <fairValLevel>1</fairValLevel>
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        <name>BRIGHTHOUSE FINANCIAL INC</name>
        <lei>5493003T8SZSHOGGAW52</lei>
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        <assetCat>EP</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>
        
        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>MORGAN STANLEY</name>
        <lei>IGJSJL3JD5P30I6NJZ34</lei>
        <title>MORGAN STANLEY DEPOSITARY SHARES OF MONGAN STANLEY, EACH REPRESENTING A 1/1000TH INTEREST IN A FIXED-TO-FLOATING RATE NON-CUMULATIVE PREFERRED STOCK,</title>
        <cusip>61763E207</cusip>
        <identifiers>
          <isin value="US61763E2072"/>
          <ticker value="MS F"/>
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        <balance>2248191.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>56429594.10000000</valUSD>
        <pctVal>0.430869823739</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EP</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>
        
        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>CAPITAL ONE FINANCIAL CORP</name>
        <lei>ZUE8T73ROZOF6FLBAR73</lei>
        <title>CAPITAL ONE FINANCIAL CORP DEPOSITARY SHARES EACH REPRESENTING A 1/40TH INTEREST IN A SHARE OF FIXED RATE NON-CUMULATIVE PERPETUAL PREFERRED STOCK, SE</title>
        <cusip>14040H782</cusip>
        <identifiers>
          <isin value="US14040H7825"/>
          <ticker value="COF J"/>
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        <balance>3312572.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>58003135.72000000</valUSD>
        <pctVal>0.442884647012</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EP</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>
        
        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>FIRST HORIZON CORP</name>
        <lei>TF3RXI1ZB1TQ30H9JV10</lei>
        <title>FIRST HORIZON CORP DEPOSITARY SHARESEACH REPRESENTING 1/4,000TH INTEREST IN A SHARE OF NON-CUMULATIVE PERPETUAL PREFERRED STOCK, SERIES H</title>
        <cusip>320517840</cusip>
        <identifiers>
          <isin value="US3205178409"/>
          <ticker value="FHN H"/>
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        <balance>1062560.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>26542748.80000000</valUSD>
        <pctVal>0.202667938329</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EP</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>
        
        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>CMS ENERGY CORP</name>
        <lei>549300IA9XFBAGNIBW29</lei>
        <title>CMS ENERGY CORP 5.875% OF JUNIOR SUBORDINATED PREFERRED SECURITIES DUE ON 10/15/2078</title>
        <cusip>125896852</cusip>
        <identifiers>
          <isin value="US1258968528"/>
          <ticker value="CMSC"/>
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        <balance>740155.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>16016954.20000000</valUSD>
        <pctVal>0.122297924397</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EP</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>
        
        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>FEDERAL AGRICULTURAL MORTGAGE CORP</name>
        <lei>549300MS654K78GYF580</lei>
        <title>FEDERAL AGRICULTURAL MORTGAGE CORP 4.875% NON-CUMULATIVE PERPETUAL SERIES G PREFERRED STOCK</title>
        <cusip>313148835</cusip>
        <identifiers>
          <isin value="US3131488351"/>
          <ticker value="AGM G"/>
        </identifiers>
        <balance>325448.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>5763684.08000000</valUSD>
        <pctVal>0.044008779138</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EP</assetCat>
        <issuerCat>USGSE</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>
        
        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>GEORGIA POWER COMPANY</name>
        <lei>D981X4Z4RWS7PDMJUZ03</lei>
        <title>GEORGIA POWER COMPANY SERIES 2017A 5.00% JUNIOR SUBORDINATED NOTES DUE OCTOBER 1, 2077</title>
        <cusip>373334440</cusip>
        <identifiers>
          <isin value="US3733344408"/>
          <ticker value="GPJA"/>
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        <balance>713296.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>15100476.32000000</valUSD>
        <pctVal>0.115300130616</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EP</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>
        
        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>RENAISSANCERE HOLDINGS LTD</name>
        <lei>EK6GB9U3U58PDI411C94</lei>
        <title>RENAISSANCERE HOLDINGS LTD DEPOSITARY SHARES, EACH REPRESENTING 1/1000TH INTEREST IN A SHARE OF THE COMPANYS 4.20% SERIES G PREFERENCE SHARES</title>
        <cusip>000000000</cusip>
        <identifiers>
          <isin value="BMG7498P1279"/>
          <ticker value="RNR G"/>
          <other otherDesc="SEDOL" value="BKSDN56"/>
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        <balance>1362026.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>20430390.00000000</valUSD>
        <pctVal>0.155996843121</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EP</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>BM</invCountry>
        
        <isRestrictedSec>N</isRestrictedSec>
        
        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>BRUKER CORP</name>
        <lei>LEBZ6VLQ6I8XB1NHVY15</lei>
        <title>BRUKER CORP 6.375% MANDATORY CONVERTIBLE PREFERRED STOCK, SERIES A</title>
        <cusip>116794207</cusip>
        <identifiers>
          <isin value="US1167942077"/>
          <ticker value="BRKR"/>
        </identifiers>
        <balance>183885.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>82363930.35000000</valUSD>
        <pctVal>0.628892210167</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EP</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>
        
        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>EQUITABLE HOLDINGS INC</name>
        <lei>549300FIBAKMNHPZ4009</lei>
        <title>EQUITABLE HOLDINGS INC 5.25% DEPOSITARY SHARES EACH REPRESENTING A 1/1,000TH INTEREST IN A SHARE OF FIXED RATE NONCUMULATIVE PERPETUAL PREFERRED STOCK</title>
        <cusip>29452E200</cusip>
        <identifiers>
          <isin value="US29452E2000"/>
          <ticker value="EQH A"/>
        </identifiers>
        <balance>2172281.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>41794686.44000000</valUSD>
        <pctVal>0.319124556305</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EP</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>
        
        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>CITIZENS FINANCIAL GROUP INC</name>
        <lei>2138004JDDA4ZQUPFW65</lei>
        <title>CITIZENS FINANCIAL GROUP INC DEPOSITARY SHARES, EACH REPRESENTING A 1/40TH INTEREST IN A SHARE OF 6.500% FIXED-RATE RESET NON-CUMULATIVE PERPETUAL PRE</title>
        <cusip>174610808</cusip>
        <identifiers>
          <isin value="US1746108083"/>
          <ticker value="CFG I"/>
        </identifiers>
        <balance>1056956.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>26191369.68000000</valUSD>
        <pctVal>0.199984972734</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EP</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>
        
        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>SARATOGA INVESTMENT CORP</name>
        <lei>N/A</lei>
        <title>SARATOGA INVESTMENT CORP 6.00% NOTES DUE 2027</title>
        <cusip>80349A802</cusip>
        <identifiers>
          <isin value="US80349A8027"/>
          <ticker value="SAT"/>
        </identifiers>
        <balance>275710.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>6870693.20000000</valUSD>
        <pctVal>0.052461379800</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EP</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>
        
        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>CHATHAM LODGING TRUST</name>
        <lei>N/A</lei>
        <title>CHATHAM LODGING TRUST 6.625% SERIES A CUMULATIVE REDEEMABLE PREFERRED SHARES OF BENEFICIAL INTEREST</title>
        <cusip>16208T201</cusip>
        <identifiers>
          <isin value="US16208T2015"/>
          <ticker value="CLDT A"/>
        </identifiers>
        <balance>320790.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>6303523.50000000</valUSD>
        <pctVal>0.048130738891</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EP</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>
        
        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>ATLANTICUS HOLDINGS CORP</name>
        <lei>N/A</lei>
        <title>ATLANTICUS HOLDINGS CORP 9.25% SENIOR NOTES DUE JANUARY 31, 2029</title>
        <cusip>04914Y409</cusip>
        <identifiers>
          <isin value="US04914Y4098"/>
          <ticker value="ATLCZ"/>
        </identifiers>
        <balance>440485.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>11201533.55000000</valUSD>
        <pctVal>0.085529638539</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EP</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>
        
        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>BANK OF HAWAII CORP</name>
        <lei>5493006Q8BQ8AD8M2U33</lei>
        <title>BANK OF HAWAII CORP DEPOSITARY SHARES, EACH REPRESENTING A 1/40TH INTEREST IN A SHARE OF 4.375% NON-CUMULATIVE PERPETUAL PREFERRED STOCK, SERIES A</title>
        <cusip>062545207</cusip>
        <identifiers>
          <isin value="US0625452075"/>
          <ticker value="BOH A"/>
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        <balance>484757.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>7465257.80000000</valUSD>
        <pctVal>0.057001195272</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EP</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>
        
        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>BRIGHTHOUSE FINANCIAL INC</name>
        <lei>5493003T8SZSHOGGAW52</lei>
        <title>BRIGHTHOUSE FINANCIAL INC DEPOSITARY SHARES EACH REPRESENTING A 1/1,000TH INTEREST IN A SHARE OF THE ISSUERS 4.625% NON-CUMULATIVE PREFERRED STOCK, SE</title>
        <cusip>10922N889</cusip>
        <identifiers>
          <isin value="US10922N8891"/>
          <ticker value="BHFAM"/>
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        <balance>920424.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>9646043.52000000</valUSD>
        <pctVal>0.073652648712</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EP</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>
        
        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>CHIMERA INVESTMENT CORP</name>
        <lei>2JBBQFJOL123LOUBE657</lei>
        <title>CHIMERA INVESTMENT CORP 8.00% SERIES A CUMULATIVE REDEEMABLE PREFERRED STOCK</title>
        <cusip>16934Q307</cusip>
        <identifiers>
          <isin value="US16934Q3074"/>
          <ticker value="CIM A"/>
        </identifiers>
        <balance>386328.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>8000852.88000000</valUSD>
        <pctVal>0.061090747242</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EP</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>
        
        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>PEBBLEBROOK HOTEL TRUST</name>
        <lei>5493004Q1NNH6JXCSI52</lei>
        <title>PEBBLEBROOK HOTEL TRUST 6.375% SER E CUM RED PRF SHS BEN</title>
        <cusip>70509V605</cusip>
        <identifiers>
          <isin value="US70509V6056"/>
          <ticker value="PEB E"/>
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        <balance>286558.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>5582149.84000000</valUSD>
        <pctVal>0.042622669115</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EP</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>
        
        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>US BANCORP</name>
        <lei>N1GZ7BBF3NP8GI976H15</lei>
        <title>US BANCORP DEPOSITARY SHARES EACH REPRESENTING 1/1,000TH INTEREST IN A SHARE OF SERIES M NON-CUMULATIVE PERPETUAL PREFERRED STOCK</title>
        <cusip>902973718</cusip>
        <identifiers>
          <isin value="US9029737189"/>
          <ticker value="USB R"/>
        </identifiers>
        <balance>1975230.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>30359285.10000000</valUSD>
        <pctVal>0.231809213384</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EP</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>
        
        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>ATHENE HOLDING LTD</name>
        <lei>549300H316CT32FQXI76</lei>
        <title>ATHENE HOLDING LTD DEP SHS EACH REP A 1/1,000TH INT IN A SHARE OF 5.625% FXD RAT PERP NON CUM PREFERENCE SHS SER B</title>
        <cusip>04686J200</cusip>
        <identifiers>
          <isin value="US04686J2006"/>
          <ticker value="ATH B"/>
        </identifiers>
        <balance>905259.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>16828764.81000000</valUSD>
        <pctVal>0.128496528162</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EP</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>
        
        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <loanByFundCondition isLoanByFund="Y" loanVal="74360.00000000"/>
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      </invstOrSec>
      <invstOrSec>
        <name>ATHENE HOLDING LTD</name>
        <lei>549300H316CT32FQXI76</lei>
        <title>ATHENE HOLDING LTD 6.35%DEP 1/1000TH PERP NON CUM PFD SER A</title>
        <cusip>04686J861</cusip>
        <identifiers>
          <isin value="US04686J8615"/>
          <ticker value="ATH A"/>
        </identifiers>
        <balance>2285208.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>55256329.44000000</valUSD>
        <pctVal>0.421911326956</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EP</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>
        
        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>FIFTH THIRD BANCORP</name>
        <lei>THRNG6BD57P9QWTQLG42</lei>
        <title>FIFTH THIRD BANCORP DEPOSITARY SHARES REPRESENTING A 1/40TH OWNERSHIP INTEREST IN A SHARE OF 6.875% FIXED-RATE RESET NON-CUMULATIVE PERPETUAL PREFERRE</title>
        <cusip>316773837</cusip>
        <identifiers>
          <isin value="US3167738372"/>
          <ticker value="FITBM"/>
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        <balance>1057354.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>27385468.60000000</valUSD>
        <pctVal>0.209102550122</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EP</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>
        
        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <loanByFundCondition isLoanByFund="Y" loanVal="1476.30000000"/>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>M&amp;T BANK CORP</name>
        <lei>549300WYXDDBYRASEG81</lei>
        <title>M&amp;T BANK CORP PERPETUAL FIXED-TO-FLOATING RATE NON-CUMULATIVE PREFERRED STOCK, SERIES H</title>
        <cusip>55261F872</cusip>
        <identifiers>
          <isin value="US55261F8721"/>
          <ticker value="MTB H"/>
        </identifiers>
        <balance>665923.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>16634756.54000000</valUSD>
        <pctVal>0.127015172316</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EP</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>
        
        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>DIGITALBRIDGE GROUP INC</name>
        <lei>549300XG87L902AGBO89</lei>
        <title>DIGITALBRIDGE GROUP INC CUM RED PERP PFD SHS SER J</title>
        <cusip>25401T306</cusip>
        <identifiers>
          <isin value="US25401T3068"/>
          <ticker value="DBRG J"/>
        </identifiers>
        <balance>766460.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>11619533.60000000</valUSD>
        <pctVal>0.088721290202</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EP</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>
        
        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>ENTERGY NEW ORLEANS LLC</name>
        <lei>1Q8BAFRNDFTDI3IGJH73</lei>
        <title>ENTERGY NEW ORLEANS LLC FIRST MORTGAGE BONDS, 5.50% SERIES DUE APRIL 1, 2066</title>
        <cusip>29364P103</cusip>
        <identifiers>
          <isin value="US29364P1030"/>
          <ticker value="ENO"/>
        </identifiers>
        <balance>287074.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>6123288.42000000</valUSD>
        <pctVal>0.046754548642</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EP</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>
        
        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>LIBERTY BROADBAND CORP</name>
        <lei>549300MIX43II8JLN536</lei>
        <title>LIBERTY BROADBAND CORP SERIES A CUMULATIVE REDEEMABLE PREFERRED STOCK</title>
        <cusip>530307503</cusip>
        <identifiers>
          <isin value="US5303075031"/>
          <ticker value="LBRDP"/>
        </identifiers>
        <balance>472307.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>10216000.41000000</valUSD>
        <pctVal>0.078004571292</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EP</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>
        
        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>MFA FINANCIAL INC</name>
        <lei>YW72IMH2RRC8Z1TGLG58</lei>
        <title>MFA FINANCIAL INC 6.50% SERIES C FIXED-TO-FLOATING RATE CUMULATIVE REDEEMABLE PREFERRED STOCK</title>
        <cusip>55272X508</cusip>
        <identifiers>
          <isin value="US55272X5086"/>
          <ticker value="MFA C"/>
        </identifiers>
        <balance>732720.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>16500854.40000000</valUSD>
        <pctVal>0.125992758591</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EP</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>
        
        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>UMH PROPERTIES INC</name>
        <lei>529900OM5K3PJ11F0Q09</lei>
        <title>UMH PROPERTIES INC 6.375% CUMULATIVE REDEEMABLE PREFERRED STOCK SER D</title>
        <cusip>903002509</cusip>
        <identifiers>
          <isin value="US9030025095"/>
          <ticker value="UMH D"/>
        </identifiers>
        <balance>864597.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>18199766.85000000</valUSD>
        <pctVal>0.138964854520</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EP</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>
        
        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>GLOBAL NET LEASE INC</name>
        <lei>549300NUYANCT5SU8Z65</lei>
        <title>GLOBAL NET LEASE INC 7.25% SERIES A CUMULATIVE REDEEMABLE PREFERRED STOCK</title>
        <cusip>379378300</cusip>
        <identifiers>
          <isin value="US3793783008"/>
          <ticker value="GNL A"/>
        </identifiers>
        <balance>452828.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>10374289.48000000</valUSD>
        <pctVal>0.079213192137</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EP</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>
        
        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>WELLS FARGO &amp; COMPANY</name>
        <lei>PBLD0EJDB5FWOLXP3B76</lei>
        <title>WELLS FARGO &amp; COMPANY DEPOSITARY SHARES, EACH REPRESENTING A 1/1,000TH INTEREST IN A SHARE OF NON-CUMULATIVE PERPETUAL CLASS A PREFERRED STOCK, SERIE</title>
        <cusip>94988U656</cusip>
        <identifiers>
          <isin value="US94988U6560"/>
          <ticker value="WFC Y"/>
        </identifiers>
        <balance>1838686.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>41591077.32000000</valUSD>
        <pctVal>0.317569892887</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EP</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>
        
        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>AGNC INVESTMENT CORP</name>
        <lei>5TRACI5HRMELWV32OF39</lei>
        <title>AGNC INVESTMENT CORP DEPOSITARY SHARES EACH REPRESENTING A 1/1,000TH INTEREST IN A SHARE OF 8.75% SERIES H FIXED-RATE CUMULATIVE REDEEMABLE PREFERRED</title>
        <cusip>00123Q831</cusip>
        <identifiers>
          <isin value="US00123Q8318"/>
          <ticker value="AGNCZ"/>
        </identifiers>
        <balance>919130.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>23299945.50000000</valUSD>
        <pctVal>0.177907418453</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EP</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>
        
        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>TRITON INTERNATIONAL LTD</name>
        <lei>N/A</lei>
        <title>TRITON INTERNATIONAL LTD 7.375% SERIES C CUMULATIVE REDEEMABLE PERPETUAL PREFERENCE SHARES</title>
        <cusip>000000000</cusip>
        <identifiers>
          <isin value="BMG9078F1499"/>
          <ticker value="TRTN C"/>
          <other otherDesc="SEDOL" value="BK26FC2"/>
        </identifiers>
        <balance>460763.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>11187325.64000000</valUSD>
        <pctVal>0.085421153625</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EP</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>BM</invCountry>
        
        <isRestrictedSec>N</isRestrictedSec>
        
        <fairValLevel>2</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>HUNTINGTON BANCSHARES INC</name>
        <lei>549300XTVCVV9I7B5T19</lei>
        <title>HUNTINGTON BANCSHARES INC DEPOSITARY SHARES (EACH REPRESENTING A 1/1000TH INTEREST IN A SHARE OF 5.70% SERIES I NON-CUMULATIVE, PERPETUAL PREFERRED ST</title>
        <cusip>446150781</cusip>
        <identifiers>
          <isin value="US4461507810"/>
          <ticker value="HBANM"/>
        </identifiers>
        <balance>466231.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>9632332.46000000</valUSD>
        <pctVal>0.073547957511</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EP</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>
        
        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
    </invstOrSecs>
    <explntrNotes>
      
      
      <explntrNote note="Monthly returns presented in Item B.5(a) have been calculated without deducting any applicable sales loads or redemption fees." noteItem="B.5.a"/>
      
      
      
    </explntrNotes>
    <signature>
      <ncom:dateSigned>2026-08-25</ncom:dateSigned>
      <ncom:nameOfApplicant>iShares Trust</ncom:nameOfApplicant>
      <ncom:signature>Chuck Pulsfort</ncom:signature>
      <ncom:signerName>Chuck Pulsfort</ncom:signerName>
      <ncom:title>Assistant Treasurer</ncom:title>
    </signature>
  </formData>
  <documents>XXXX</documents>
</edgarSubmission>
