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        <invCountry>US</invCountry>
        
        <isRestrictedSec>N</isRestrictedSec>
        
        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>MORGAN STANLEY</name>
        <lei>IGJSJL3JD5P30I6NJZ34</lei>
        <title>Morgan Stanley PREFERRED STOCK</title>
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        <assetCat>EP</assetCat>
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        <invCountry>US</invCountry>
        
        <isRestrictedSec>N</isRestrictedSec>
        
        <fairValLevel>2</fairValLevel>
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          <isCashCollateral>N</isCashCollateral>
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      </invstOrSec>
      <invstOrSec>
        <name>The Bank of New York Mellon Corporation</name>
        <lei>WFLLPEPC7FZXENRZV188</lei>
        <title>Bank of New York Mellon Corp/The PREFERRED STOCK</title>
        <cusip>N/A</cusip>
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          <isin value="US0640588457"/>
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        <balance>96577.00000000</balance>
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        <curCd>USD</curCd>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>EP</assetCat>
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        <invCountry>US</invCountry>
        
        <isRestrictedSec>N</isRestrictedSec>
        
        <fairValLevel>2</fairValLevel>
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          <isCashCollateral>N</isCashCollateral>
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      </invstOrSec>
      <invstOrSec>
        <name>QXO, INC.</name>
        <lei>N/A</lei>
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        <cusip>82846H504</cusip>
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          <isin value="US82846H5046"/>
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        <curCd>USD</curCd>
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        <assetCat>EP</assetCat>
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        <invCountry>US</invCountry>
        
        <isRestrictedSec>N</isRestrictedSec>
        
        <fairValLevel>2</fairValLevel>
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          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>STRATEGY INC</name>
        <lei>549300WQTWEJUEHXQX21</lei>
        <title>Strategy Inc PREFERRED STOCK</title>
        <cusip>594972887</cusip>
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          <isin value="US5949728878"/>
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        <curCd>USD</curCd>
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        <assetCat>EP</assetCat>
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        <invCountry>US</invCountry>
        
        <isRestrictedSec>N</isRestrictedSec>
        
        <fairValLevel>2</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>MORGAN STANLEY</name>
        <lei>IGJSJL3JD5P30I6NJZ34</lei>
        <title>Morgan Stanley PREFERRED STOCK</title>
        <cusip>61762V853</cusip>
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          <isin value="US61762V8533"/>
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        <balance>59112.00000000</balance>
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        <curCd>USD</curCd>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>EP</assetCat>
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        <invCountry>US</invCountry>
        
        <isRestrictedSec>N</isRestrictedSec>
        
        <fairValLevel>2</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>STRATEGY INC</name>
        <lei>549300WQTWEJUEHXQX21</lei>
        <title>Strategy Inc PREFERRED STOCK</title>
        <cusip>594972861</cusip>
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          <isin value="US5949728613"/>
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        <balance>26609.00000000</balance>
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        <curCd>USD</curCd>
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        <payoffProfile>Long</payoffProfile>
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        <invCountry>US</invCountry>
        
        <isRestrictedSec>N</isRestrictedSec>
        
        <fairValLevel>2</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>ATHENE HOLDING LTD.</name>
        <lei>549300H316CT32FQXI76</lei>
        <title>Athene Holding Ltd PREFERRED STOCK</title>
        <cusip>04686J507</cusip>
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          <isin value="US04686J5074"/>
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        <balance>96042.00000000</balance>
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        <curCd>USD</curCd>
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        <assetCat>EP</assetCat>
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        <invCountry>US</invCountry>
        
        <isRestrictedSec>N</isRestrictedSec>
        
        <fairValLevel>2</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>BRUKER CORPORATION</name>
        <lei>LEBZ6VLQ6I8XB1NHVY15</lei>
        <title>Bruker Corp PREFERRED STOCK</title>
        <cusip>116794207</cusip>
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          <isin value="US1167942077"/>
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        <curCd>USD</curCd>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>EP</assetCat>
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        <invCountry>US</invCountry>
        
        <isRestrictedSec>N</isRestrictedSec>
        
        <fairValLevel>2</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>Pinnacle Financial Partners, Inc.</name>
        <lei>N/A</lei>
        <title>Pinnacle Financial Partners Inc PREFERRED STOCK</title>
        <cusip>72348N307</cusip>
        <identifiers>
          <isin value="US72348N3070"/>
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        <curCd>USD</curCd>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>EP</assetCat>
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        <invCountry>US</invCountry>
        
        <isRestrictedSec>N</isRestrictedSec>
        
        <fairValLevel>2</fairValLevel>
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          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>ARES MANAGEMENT CORPORATION</name>
        <lei>529900JUV61FH7B8VW38</lei>
        <title>Ares Management Corp PREFERRED STOCK</title>
        <cusip>03990B309</cusip>
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          <isin value="US03990B3096"/>
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        <curCd>USD</curCd>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>EP</assetCat>
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        <invCountry>US</invCountry>
        
        <isRestrictedSec>N</isRestrictedSec>
        
        <fairValLevel>2</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>ORACLE CORPORATION</name>
        <lei>1Z4GXXU7ZHVWFCD8TV52</lei>
        <title>Oracle Corp PREFERRED STOCK</title>
        <cusip>68389X204</cusip>
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          <isin value="US68389X2045"/>
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        <balance>86842.00000000</balance>
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        <curCd>USD</curCd>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>EP</assetCat>
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        <invCountry>US</invCountry>
        
        <isRestrictedSec>N</isRestrictedSec>
        
        <fairValLevel>2</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>SYNCHRONY FINANCIAL</name>
        <lei>549300RS7EWPM9MA6C78</lei>
        <title>Synchrony Financial PREFERRED STOCK</title>
        <cusip>87165B400</cusip>
        <identifiers>
          <isin value="US87165B4005"/>
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        <curCd>USD</curCd>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>EP</assetCat>
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        <invCountry>US</invCountry>
        
        <isRestrictedSec>N</isRestrictedSec>
        
        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>AGNC INVESTMENT CORP.</name>
        <lei>5TRACI5HRMELWV32OF39</lei>
        <title>AGNC Investment Corp PREFERRED STOCK</title>
        <cusip>00123Q831</cusip>
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          <isin value="US00123Q8318"/>
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        <assetCat>EP</assetCat>
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        <invCountry>US</invCountry>
        
        <isRestrictedSec>N</isRestrictedSec>
        
        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>MICROCHIP TECHNOLOGY INCORPORATED</name>
        <lei>5493007PTFULNYZJ1R12</lei>
        <title>Microchip Technology Inc PREFERRED STOCK</title>
        <cusip>595017302</cusip>
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          <isin value="US5950173022"/>
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        <balance>69275.00000000</balance>
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        <curCd>USD</curCd>
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        <isRestrictedSec>N</isRestrictedSec>
        
        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>PG&amp;E CORPORATION</name>
        <lei>8YQ2GSDWYZXO2EDN3511</lei>
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        <cusip>69331C306</cusip>
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        <invCountry>US</invCountry>
        
        <isRestrictedSec>N</isRestrictedSec>
        
        <fairValLevel>2</fairValLevel>
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        <name>THE SOUTHERN COMPANY</name>
        <lei>549300FC3G3YU2FBZD92</lei>
        <title>Southern Co/The PREFERRED STOCK</title>
        <cusip>842587867</cusip>
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        <invCountry>US</invCountry>
        
        <isRestrictedSec>N</isRestrictedSec>
        
        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>CITIGROUP INC.</name>
        <lei>6SHGI4ZSSLCXXQSBB395</lei>
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        <isRestrictedSec>N</isRestrictedSec>
        
        <fairValLevel>2</fairValLevel>
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        <name>DTE ENERGY COMPANY</name>
        <lei>549300IX8SD6XXD71I78</lei>
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        <cusip>233331792</cusip>
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        <isRestrictedSec>N</isRestrictedSec>
        
        <fairValLevel>2</fairValLevel>
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        <name>FLAGSTAR BANK, NATIONAL ASSOCIATION</name>
        <lei>SS1TRMSN6BRNMOREEV51</lei>
        <title>Flagstar Bank NA PREFERRED STOCK</title>
        <cusip>649445202</cusip>
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        <isRestrictedSec>N</isRestrictedSec>
        
        <fairValLevel>1</fairValLevel>
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        <name>APOLLO GLOBAL MANAGEMENT, INC.</name>
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        <title>Apollo Global Management Inc PREFERRED STOCK</title>
        <cusip>03769M205</cusip>
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        <isRestrictedSec>N</isRestrictedSec>
        
        <fairValLevel>2</fairValLevel>
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        <name>LINCOLN NATIONAL CORPORATION</name>
        <lei>EFQMQROEDSNBRIP7LE47</lei>
        <title>Lincoln National Corp PREFERRED STOCK</title>
        <cusip>534187885</cusip>
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        <invCountry>US</invCountry>
        
        <isRestrictedSec>N</isRestrictedSec>
        
        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>SCE TRUST VII</name>
        <lei>N/A</lei>
        <title>SCE Trust VII PREFERRED STOCK</title>
        <cusip>783892201</cusip>
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          <isin value="US7838922018"/>
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        <balance>106677.00000000</balance>
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        <curCd>USD</curCd>
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        <invCountry>US</invCountry>
        
        <isRestrictedSec>N</isRestrictedSec>
        
        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>MORGAN STANLEY</name>
        <lei>IGJSJL3JD5P30I6NJZ34</lei>
        <title>Morgan Stanley PREFERRED STOCK</title>
        <cusip>61762V606</cusip>
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          <isin value="US61762V6065"/>
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        <balance>59100.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>1369938.00000000</valUSD>
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        <invCountry>US</invCountry>
        
        <isRestrictedSec>N</isRestrictedSec>
        
        <fairValLevel>1</fairValLevel>
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      <invstOrSec>
        <name>REGIONS FINANCIAL CORPORATION</name>
        <lei>CW05CS5KW59QTC0DG824</lei>
        <title>Regions Financial Corp PREFERRED STOCK</title>
        <cusip>7591EP860</cusip>
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        <invCountry>US</invCountry>
        
        <isRestrictedSec>N</isRestrictedSec>
        
        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>SCE TRUST VIII</name>
        <lei>N/A</lei>
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          <isin value="US80620A2087"/>
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        <invCountry>US</invCountry>
        
        <isRestrictedSec>N</isRestrictedSec>
        
        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>ALBEMARLE CORPORATION</name>
        <lei>HDBLS2Q6GV1LSKQPBS54</lei>
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        <cusip>N/A</cusip>
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          <isin value="US0126532003"/>
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        <isRestrictedSec>N</isRestrictedSec>
        
        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>FIDELITY COLCHESTER STR TR MONEY MKT GOV PORT</name>
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          <isin value="US31607A7037"/>
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        <assetCat>STIV</assetCat>
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        <isRestrictedSec>N</isRestrictedSec>
        
        <fairValLevel>1</fairValLevel>
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      <invstOrSec>
        <name>REGIONS FINANCIAL CORPORATION</name>
        <lei>CW05CS5KW59QTC0DG824</lei>
        <title>Regions Financial Corp PREFERRED STOCK</title>
        <cusip>7591EP704</cusip>
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          <isin value="US7591EP7044"/>
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        <isRestrictedSec>N</isRestrictedSec>
        
        <fairValLevel>1</fairValLevel>
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      <invstOrSec>
        <name>SHIFT4 PAYMENTS, INC.</name>
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          <isin value="US82452J3077"/>
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        <isRestrictedSec>N</isRestrictedSec>
        
        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>BANK OF AMERICA CORPORATION</name>
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        <isRestrictedSec>N</isRestrictedSec>
        
        <fairValLevel>1</fairValLevel>
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        <name>FIRST CITIZENS BANCSHARES, INC.</name>
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        <isRestrictedSec>N</isRestrictedSec>
        
        <fairValLevel>2</fairValLevel>
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        <name>STRATEGY INC</name>
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        <isRestrictedSec>N</isRestrictedSec>
        
        <fairValLevel>2</fairValLevel>
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        <name>WINTRUST FINANCIAL CORPORATION</name>
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        <isRestrictedSec>N</isRestrictedSec>
        
        <fairValLevel>2</fairValLevel>
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        <name>WHIRLPOOL CORPORATION</name>
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        <isRestrictedSec>N</isRestrictedSec>
        
        <fairValLevel>2</fairValLevel>
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        <name>WELLS FARGO &amp; COMPANY</name>
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        <isRestrictedSec>N</isRestrictedSec>
        
        <fairValLevel>1</fairValLevel>
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        <name>KKR &amp; CO. INC.</name>
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        <isRestrictedSec>N</isRestrictedSec>
        
        <fairValLevel>2</fairValLevel>
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        <name>FIFTH THIRD BANCORP</name>
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        <isRestrictedSec>N</isRestrictedSec>
        
        <fairValLevel>2</fairValLevel>
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        <name>COREBRIDGE FINANCIAL, INC.</name>
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        <isRestrictedSec>N</isRestrictedSec>
        
        <fairValLevel>2</fairValLevel>
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        <name>ATHENE HOLDING LTD.</name>
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        <isRestrictedSec>N</isRestrictedSec>
        
        <fairValLevel>2</fairValLevel>
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        <name>ANNALY CAPITAL MANAGEMENT, INC.</name>
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        <isRestrictedSec>N</isRestrictedSec>
        
        <fairValLevel>2</fairValLevel>
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        <name>FORD MOTOR COMPANY</name>
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        <fairValLevel>2</fairValLevel>
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        <name>KEYCORP</name>
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        <name>F&amp;G ANNUITIES &amp; LIFE, INC.</name>
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        <isRestrictedSec>N</isRestrictedSec>
        
        <fairValLevel>2</fairValLevel>
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        <name>HEWLETT PACKARD ENTERPRISE COMPANY</name>
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        <name>M&amp;T BANK CORPORATION</name>
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        <isRestrictedSec>N</isRestrictedSec>
        
        <fairValLevel>2</fairValLevel>
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    <signature>
      <ncom:dateSigned>2026-07-31</ncom:dateSigned>
      <ncom:nameOfApplicant>GLOBAL X FUNDS</ncom:nameOfApplicant>
      <ncom:signature>Joe Costello</ncom:signature>
      <ncom:signerName>Joe Costello</ncom:signerName>
      <ncom:title>CCO</ncom:title>
    </signature>
  </formData>
  <documents>XXXX</documents>
</edgarSubmission>
