Profiles >> Spectrum Asset Management Inc >> 13Fs
Spectrum Asset Management Inc
Last Updated: 3/2/2021
Spectrum Asset Management Inc is a Corporation that started in 1987 and is primarily owned and controlled by Mark Lieb, and later acquired in 2001 by PGI, the asset management arm of The Principal Financial Group.. Below is a list of the Top 10 Holdings by value as reported to the SEC through their historical 13F Filings. You can drill down to get a full comprehensive list by expanding the date of interest and clicking on the Full List Link. To see a profile of the company, click here.
Historical 13F Holdings - Top 10 By Value By Date
(click date to expand)
| Issuer | Title of Class | CUSIP | Value(1000s) | Share | SH/PRN | Put/Call | Investment Discretion | Other Manager | Sole | Shared | None |
|---|---|---|---|---|---|---|---|---|---|---|---|
| ISHARES TR | PFD AND INCM SEC | 464288687 | 41324 | 1073073 | SH | DFND | 1073073 | 0 | 0 | ||
| HANCOCK JOHN PFD INCOME FD I | COM | 41021P103 | 11177 | 646421 | SH | DFND | 646421 | 0 | 0 | ||
| BLACKROCK CR ALLOCATION INCO | COM | 092508100 | 10637 | 723135 | SH | DFND | 723135 | 0 | 0 | ||
| INVESCO EXCH TRADED FD TR II | PFD ETF | 46138E511 | 9613 | 629938 | SH | DFND | 629938 | 0 | 0 | ||
| ISHARES TR | CORE US AGGBD ET | 464287226 | 1924 | 16277 | SH | SOLE | 16277 | 0 | 0 | ||
| ISHARES TR | IBOXX INV CP ETF | 464287242 | 680 | 4925 | SH | SOLE | 4925 | 0 | 0 |
| Issuer | Title of Class | CUSIP | Value(1000s) | Share | SH/PRN | Put/Call | Investment Discretion | Other Manager | Sole | Shared | None |
|---|---|---|---|---|---|---|---|---|---|---|---|
| WELLS FARGO CO NEW | PERP PFD CNV A | 949746804 | 154206 | 114903 | SH | SOLE | 114903 | 0 | 0 | ||
| ISHARES TR | PFD AND INCM SEC | 464288687 | 42993 | 1179494 | SH | SOLE | 1179494 | 0 | 0 | ||
| BK OF AMERICA CORP | 7.25%CNV PFD L | 060505682 | 31924 | 21454 | SH | SOLE | 21454 | 0 | 0 | ||
| HANCOCK JOHN PFD INCOME FD I | COM | 41021P103 | 10330 | 646421 | SH | SOLE | 646421 | 0 | 0 | ||
| BLACKROCK CR ALLOCATION INCO | COM | 092508100 | 10283 | 723135 | SH | SOLE | 723135 | 0 | 0 | ||
| INVESCO EXCH TRADED FD TR II | PFD ETF | 46138E511 | 10272 | 697383 | SH | SOLE | 697383 | 0 | 0 | ||
| WELLS FARGO CO NEW | PERP PFD CNV A | 949746804 | 2891 | 2154 | SH | DFND | 2154 | 0 | 0 | ||
| ISHARES TR | CORE US AGGBD ET | 464287226 | 325 | 2754 | SH | SOLE | 2754 | 0 | 0 |
| Issuer | Title of Class | CUSIP | Value(1000s) | Share | SH/PRN | Put/Call | Investment Discretion | Other Manager | Sole | Shared | None |
|---|---|---|---|---|---|---|---|---|---|---|---|
| WELLS FARGO CO NEW | PERP PFD CNV A | 949746804 | 67602 | 52122 | SH | SOLE | 52122 | 0 | 0 | ||
| ISHARES TR | PFD AND INCM SEC | 464288687 | 42612 | 1230150 | SH | SOLE | 1230150 | 0 | 0 | ||
| BK OF AMERICA CORP | 7.25%CNV PFD L | 060505682 | 13857 | 10324 | SH | SOLE | 10324 | 0 | 0 | ||
| HANCOCK JOHN PFD INCOME FD I | COM | 41021P103 | 10142 | 646421 | SH | SOLE | 646421 | 0 | 0 | ||
| INVESCO EXCH TRADED FD TR II | PFD ETF | 46138E511 | 9902 | 701244 | SH | SOLE | 701244 | 0 | 0 | ||
| BLACKROCK CR ALLOCATION INCO | COM | 092508100 | 9545 | 723135 | SH | SOLE | 723135 | 0 | 0 | ||
| WELLS FARGO CO NEW | PERP PFD CNV A | 949746804 | 2794 | 2154 | SH | DFND | 2154 | 0 | 0 | ||
| ISHARES TR | CORE US AGGBD ET | 464287226 | 635 | 5370 | SH | SOLE | 5370 | 0 | 0 |
| Issuer | Title of Class | CUSIP | Value(1000s) | Share | SH/PRN | Put/Call | Investment Discretion | Other Manager | Sole | Shared | None |
|---|---|---|---|---|---|---|---|---|---|---|---|
| WELLS FARGO CO NEW | PERP PFD CNV A | 949746804 | 65641 | 51523 | SH | SOLE | 51523 | 0 | 0 | ||
| HANCOCK JOHN PFD INCOME FD I | COM | 41021P103 | 8830 | 646421 | SH | SOLE | 646421 | 0 | 0 | ||
| BLACKROCK CR ALLOCATION INCO | COM | 092508100 | 8432 | 723135 | SH | SOLE | 723135 | 0 | 0 | ||
| BK OF AMERICA CORP | 7.25%CNV PFD L | 060505682 | 5964 | 4711 | SH | SOLE | 4711 | 0 | 0 | ||
| ISHARES TR | CORE US AGGBD ET | 464287226 | 3654 | 31672 | SH | SOLE | 31672 | 0 | 0 | ||
| WELLS FARGO CO NEW | PERP PFD CNV A | 949746804 | 2744 | 2154 | SH | DFND | 2154 | 0 | 0 | ||
| ISHARES TR | IBOXX INV CP ETF | 464287242 | 753 | 6094 | SH | SOLE | 6094 | 0 | 0 | ||
| INVESCO EXCHANGE-TRADED FD T | PFD ETF | 46138E511 | 472 | 35893 | SH | SOLE | 35893 | 0 | 0 | ||
| ISHARES TR | PFD AND INCM SEC | 464288687 | 466 | 14645 | SH | SOLE | 14645 | 0 | 0 |
| Issuer | Title of Class | CUSIP | Value(1000s) | Share | SH/PRN | Put/Call | Investment Discretion | Other Manager | Sole | Shared | None |
|---|---|---|---|---|---|---|---|---|---|---|---|
| WELLS FARGO CO NEW | PERP PFD CNV A | 949746804 | 65298 | 45033 | SH | SOLE | 45033 | 0 | 0 | ||
| BLACKROCK CR ALLCTN INC TR | COM | 092508100 | 13513 | 966571 | SH | SOLE | 966571 | 0 | 0 | ||
| HANCOCK JOHN PFD INCOME FD I | COM | 41021P103 | 12469 | 646421 | SH | SOLE | 646421 | 0 | 0 | ||
| WELLS FARGO CO NEW | PERP PFD CNV A | 949746804 | 3123 | 2154 | SH | DFND | 2154 | 0 | 0 | ||
| BANK AMER CORP | 7.25%CNV PFD L | 060505682 | 2656 | 1833 | SH | SOLE | 1833 | 0 | 0 |
| Issuer | Title of Class | CUSIP | Value(1000s) | Share | SH/PRN | Put/Call | Investment Discretion | Other Manager | Sole | Shared | None |
|---|---|---|---|---|---|---|---|---|---|---|---|
| WELLS FARGO CO NEW | PERP PFD CNV A | 949746804 | 67110 | 44079 | SH | SOLE | 44079 | 0 | 0 | ||
| BLACKROCK CR ALLCTN INC TR | COM | 092508100 | 13165 | 966571 | SH | SOLE | 966571 | 0 | 0 | ||
| HANCOCK JOHN PFD INCOME FD I | COM | 41021P103 | 12935 | 646421 | SH | SOLE | 646421 | 0 | 0 | ||
| WELLS FARGO CO NEW | PERP PFD CNV A | 949746804 | 3149 | 2068 | SH | DFND | 2068 | 0 | 0 | ||
| ISHARES TR | CORE US AGGBD ET | 464287226 | 306 | 2700 | SH | SOLE | 2700 | 0 | 0 |
| Issuer | Title of Class | CUSIP | Value(1000s) | Share | SH/PRN | Put/Call | Investment Discretion | Other Manager | Sole | Shared | None |
|---|---|---|---|---|---|---|---|---|---|---|---|
| WELLS FARGO CO NEW | PERP PFD CNV A | 949746804 | 63258 | 46370 | SH | SOLE | 46370 | 0 | 0 | ||
| BLACKROCK CR ALLCTN INC TR | COM | 092508100 | 12536 | 966571 | SH | SOLE | 966571 | 0 | 0 | ||
| HANCOCK JOHN PFD INCOME FD I | COM | 41021P103 | 12495 | 646421 | SH | SOLE | 646421 | 0 | 0 | ||
| WELLS FARGO CO NEW | PERP PFD CNV A | 949746804 | 2821 | 2068 | SH | DFND | 2068 | 0 | 0 | ||
| ISHARES TR | CORE US AGGBD ET | 464287226 | 482 | 4328 | SH | SOLE | 4328 | 0 | 0 |
| Issuer | Title of Class | CUSIP | Value(1000s) | Share | SH/PRN | Put/Call | Investment Discretion | Other Manager | Sole | Shared | None |
|---|---|---|---|---|---|---|---|---|---|---|---|
| WELLS FARGO CO NEW | PERP PFD CNV A | 949746804 | 59926 | 46370 | SH | SOLE | 46370 | 0 | 0 | ||
| HANCOCK JOHN PFD INCOME FD I | COM | 41021P103 | 12107 | 646421 | SH | SOLE | 646421 | 0 | 0 | ||
| BLACKROCK CR ALLCTN INC TR | COM | 092508100 | 11995 | 966571 | SH | SOLE | 966571 | 0 | 0 | ||
| WELLS FARGO CO NEW | PERP PFD CNV A | 949746804 | 2673 | 2068 | SH | SOLE | 2068 | 0 | 0 | ||
| WELLS FARGO CO NEW | PERP PFD CNV A | 949746804 | 2673 | 2068 | SH | DFND | 46370 | 0 | 0 | ||
| ISHARES TR | CORE US AGGBD ET | 464287226 | 283 | 2591 | SH | SOLE | 2591 | 0 | 0 | ||
| ISHARES TR | CORE US AGGBD ET | 464287226 | 275 | 2522 | SH | SOLE | 2522 | 0 | 0 |
| Issuer | Title of Class | CUSIP | Value(1000s) | Share | SH/PRN | Put/Call | Investment Discretion | Other Manager | Sole | Shared | None |
|---|---|---|---|---|---|---|---|---|---|---|---|
| WELLS FARGO CO NEW | PERP PFD CNV A | 949746804 | 72896 | 57767 | SH | SOLE | 57767 | 0 | 0 | ||
| ISHARES TR | CORE US AGGBD ET | 464287226 | 71560 | 671986 | SH | SOLE | 671986 | 0 | 0 | ||
| BLACKROCK CR ALLCTN INC TR | COM | 092508100 | 10806 | 966571 | SH | SOLE | 966571 | 0 | 0 | ||
| HANCOCK JOHN PFD INCOME FD I | COM | 41021P103 | 10239 | 646421 | SH | SOLE | 646421 | 0 | 0 | ||
| WELLS FARGO CO NEW | PERP PFD CNV A | 949746804 | 7726 | 6122 | SH | DFND | 6122 | 0 | 0 | ||
| ISHARES TR | IBOXX INV CP ETF | 464287242 | 1264 | 11203 | SH | SOLE | 11203 | 0 | 0 | ||
| HSBC HLDGS PLC | ADR A 1/40PF A | 404280604 | 499 | 19348 | SH | SOLE | 19348 | 0 | 0 |
| Issuer | Title of Class | CUSIP | Value(1000s) | Share | SH/PRN | Put/Call | Investment Discretion | Other Manager | Sole | Shared | None |
|---|---|---|---|---|---|---|---|---|---|---|---|
| WELLS FARGO CO NEW | PERP PFD CNV A | 949746804 | 110905 | 85914 | SH | SOLE | 85914 | 0 | 0 | ||
| HANCOCK JOHN PFD INCOME FD I | COM | 41021P103 | 12056 | 646421 | SH | SOLE | 646421 | 0 | 0 | ||
| BLACKROCK CR ALLCTN INC TR | COM | 092508100 | 11831 | 966571 | SH | SOLE | 966571 | 0 | 0 | ||
| HSBC HLDGS PLC | ADR A 1/40PF A | 404280604 | 9199 | 358374 | SH | SOLE | 358374 | 0 | 0 | ||
| WELLS FARGO CO NEW | PERP PFD CNV A | 949746804 | 3951 | 3061 | SH | DFND | 3061 | 0 | 0 | ||
| ISHARES TR | CORE US AGGBD ET | 464287226 | 722 | 6835 | SH | SOLE | 6835 | 0 | 0 |
| Issuer | Title of Class | CUSIP | Value(1000s) | Share | SH/PRN | Put/Call | Investment Discretion | Other Manager | Sole | Shared | None |
|---|---|---|---|---|---|---|---|---|---|---|---|
| WELLS FARGO CO NEW | PERP PFD CNV A | 949746804 | 108166 | 85914 | SH | SOLE | 85914 | 0 | 0 | ||
| HANCOCK JOHN PFD INCOME FD I | COM | 41021P103 | 12049 | 646421 | SH | SOLE | 646421 | 0 | 0 | ||
| BLACKROCK CR ALLCTN INC TR | COM | 092508100 | 11676 | 966571 | SH | SOLE | 966571 | 0 | 0 | ||
| HSBC HLDGS PLC | ADR A 1/40PF A | 404280604 | 11213 | 421838 | SH | SOLE | 421838 | 0 | 0 | ||
| WELLS FARGO CO NEW | PERP PFD CNV A | 949746804 | 3854 | 3061 | SH | DFND | 3061 | 0 | 0 | ||
| ISHARES TR | CORE US AGGBD ET | 464287226 | 313 | 2942 | SH | SOLE | 2942 | 0 | 0 |
| Issuer | Title of Class | CUSIP | Value(1000s) | Share | SH/PRN | Put/Call | Investment Discretion | Other Manager | Sole | Shared | None |
|---|---|---|---|---|---|---|---|---|---|---|---|
| WELLS FARGO CO NEW | PERP PFD CNV A | 949746804 | 110829 | 85914 | SH | SOLE | 85914 | 0 | 0 | ||
| HSBC HLDGS PLC | ADR A 1/40PF A | 404280604 | 14017 | 544360 | SH | SOLE | 544360 | 0 | 0 | ||
| BLACKROCK CR ALLCTN INC TR | COM | 092508100 | 12246 | 966571 | SH | SOLE | 966571 | 0 | 0 | ||
| HANCOCK JOHN PFD INCOME FD I | COM | 41021P103 | 11396 | 646421 | SH | SOLE | 646421 | 0 | 0 | ||
| WELLS FARGO CO NEW | PERP PFD CNV A | 949746804 | 3949 | 3061 | SH | DFND | 3061 | 0 | 0 | ||
| ISHARES TR | CORE US AGGBD ET | 464287226 | 237 | 2209 | SH | SOLE | 2209 | 0 | 0 |
| Issuer | Title of Class | CUSIP | Value(1000s) | Share | SH/PRN | Put/Call | Investment Discretion | Other Manager | Sole | Shared | None |
|---|---|---|---|---|---|---|---|---|---|---|---|
| WELLS FARGO CO NEW | PERP PFD CNV A | 949746804 | 104516 | 79784 | SH | SOLE | 79784 | 0 | 0 | ||
| HSBC HLDGS PLC | ADR A 1/40PF A | 404280604 | 15608 | 604490 | SH | SOLE | 604490 | 0 | 0 | ||
| BLACKROCK CR ALLCTN INC TR | COM | 092508100 | 12875 | 966571 | SH | SOLE | 966571 | 0 | 0 | ||
| HANCOCK JOHN PFD INCOME FD I | COM | 41021P103 | 12120 | 646421 | SH | SOLE | 646421 | 0 | 0 | ||
| WELLS FARGO CO NEW | PERP PFD CNV A | 949746804 | 4010 | 3061 | SH | DFND | 3061 | 0 | 0 | ||
| ISHARES TR | S&P US PFD STK | 464288687 | 2158 | 56689 | SH | SOLE | 56689 | 0 | 0 | ||
| ISHARES TR | IBOXX INV CP ETF | 464287242 | 412 | 3396 | SH | SOLE | 3396 | 0 | 0 |
| Issuer | Title of Class | CUSIP | Value(1000s) | Share | SH/PRN | Put/Call | Investment Discretion | Other Manager | Sole | Shared | None |
|---|---|---|---|---|---|---|---|---|---|---|---|
| WELLS FARGO CO NEW | PERP PFD CNV A | 949746804 | 104784 | 79684 | SH | SOLE | 79684 | 0 | 0 | ||
| HSBC HLDGS PLC | ADR A 1/40PF A | 404280604 | 19508 | 739220 | SH | SOLE | 739220 | 0 | 0 | ||
| BLACKROCK CR ALLCTN INC TR | COM | 092508100 | 13116 | 966571 | SH | SOLE | 966571 | 0 | 0 | ||
| HANCOCK JOHN PFD INCOME FD I | COM | 41021P103 | 12153 | 646421 | SH | SOLE | 646421 | 0 | 0 | ||
| WELLS FARGO CO NEW | PERP PFD CNV A | 949746804 | 4025 | 3061 | SH | DFND | 3061 | 0 | 0 | ||
| ROYAL BK SCOTLAND GROUP PLC | SP ADR PREF S | 780097739 | 1235 | 48098 | SH | SOLE | 48098 | 0 | 0 | ||
| HSBC HLDGS PLC | ADR A 1/40PF A | 404280604 | 441 | 16717 | SH | DFND | 16717 | 0 | 0 | ||
| NATIONAL WESTMINSTER BK PLC | SPON ADR C | 638539882 | 226 | 8853 | SH | SOLE | 8853 | 0 | 0 | ||
| NATIONAL WESTMINSTER BK PLC | SPON ADR C | 638539882 | 216 | 8463 | SH | DFND | 8463 | 0 | 0 |
| Issuer | Title of Class | CUSIP | Value(1000s) | Share | SH/PRN | Put/Call | Investment Discretion | Other Manager | Sole | Shared | None |
|---|---|---|---|---|---|---|---|---|---|---|---|
| HSBC HLDGS PLC | NOTE 6.875%12/3 | 404280BC2 | 199103 | 184355000 | SH | SOLE | 184355000 | 0 | 0 | ||
| LLOYDS BANKING GROUP PLC | DBCV 7.500%12/3 | 539439AG4 | 193921 | 175792000 | SH | SOLE | 175792000 | 0 | 0 | ||
| BARCLAYS PLC | NOTE 8.250%12/3 | 06738EAA3 | 165645 | 156269000 | SH | SOLE | 156269000 | 0 | 0 | ||
| ROYAL BK OF SCOTLAND PLC | DEBT 7.500%12/3 | 780099CJ4 | 150699 | 146026000 | SH | SOLE | 146026000 | 0 | 0 | ||
| WELLS FARGO CO NEW | PERP PFD CNV A | 949746804 | 103892 | 79240 | SH | SOLE | 79240 | 0 | 0 | ||
| BARCLAYS BK PLC | NOTE 7.750% 4/1 | 06739FHK0 | 82879 | 79691000 | SH | SOLE | 79691000 | 0 | 0 | ||
| ING GROEP N V | DBCV 6.500%12/3 | 456837AF0 | 56953 | 54200000 | SH | SOLE | 54200000 | 0 | 0 | ||
| BARCLAYS PLC | NOTE 6.625%12/3 | 06738EAB1 | 54188 | 53191000 | SH | SOLE | 53191000 | 0 | 0 | ||
| ROYAL BK OF SCOTLAND PLC | NOTE 8.000%12/3 | 780099CK1 | 44513 | 41000000 | SH | SOLE | 41000000 | 0 | 0 | ||
| ROYAL BK SCOTLAND GROUP PLC | NOTE 8.625%12/3 | 780097BB6 | 35425 | 32500000 | SH | SOLE | 32500000 | 0 | 0 |
| Issuer | Title of Class | CUSIP | Value(1000s) | Share | SH/PRN | Put/Call | Investment Discretion | Other Manager | Sole | Shared | None |
|---|---|---|---|---|---|---|---|---|---|---|---|
| LLOYDS BANKING GROUP PLC | SDCV 7.500%12/3 | 539439AG4 | 186869 | 176692000 | SH | SOLE | 176692000 | 0 | 0 | ||
| HSBC HLDGS PLC | NOTE 6.875%12/3 | 404280BC2 | 181215 | 170155000 | SH | SOLE | 170155000 | 0 | 0 | ||
| BARCLAYS PLC | NOTE 8.250%12/3 | 06738EAA3 | 154856 | 147369000 | SH | SOLE | 147369000 | 0 | 0 | ||
| ROYAL BK OF SCOTLAND PLC | DEBT 7.500%12/3 | 780099CJ4 | 142888 | 144880000 | SH | SOLE | 144880000 | 0 | 0 | ||
| WELLS FARGO & CO NEW | PERP PFD CNV A | 949746804 | 98180 | 79240 | SH | SOLE | 79240 | 0 | 0 | ||
| ING GROEP N V | DBCV 6.500%12/3 | 456837AF0 | 54146 | 54500000 | SH | SOLE | 54500000 | 0 | 0 | ||
| BARCLAYS PLC | NOTE 6.625%12/3 | 06738EAB1 | 53047 | 53191000 | SH | SOLE | 53191000 | 0 | 0 | ||
| ROYAL BK OF SCOTLAND PLC | NOTE 8.000%12/3 | 780099CK1 | 34324 | 34500000 | SH | SOLE | 34500000 | 0 | 0 | ||
| ROYAL BK SCOTLAND GROUP PLC | SP ADR L RP PF | 780097788 | 32604 | 1300988 | SH | SOLE | 1300988 | 0 | 0 | ||
| ROYAL BK SCOTLAND GROUP PLC | NOTE 8.625%12/3 | 780097BB6 | 29190 | 28000000 | SH | SOLE | 28000000 | 0 | 0 |
| Issuer | Title of Class | CUSIP | Value(1000s) | Share | SH/PRN | Put/Call | Investment Discretion | Other Manager | Sole | Shared | None |
|---|---|---|---|---|---|---|---|---|---|---|---|
| LLOYDS BANKING GROUP PLC | SDCV 7.500%12/3 | 539439AG4 | 195383 | 189692000 | SH | SOLE | 189692000 | 0 | 0 | ||
| HSBC HLDGS PLC | NOTE 6.875%12/3 | 404280BC2 | 167856 | 159105000 | SH | SOLE | 159105000 | 0 | 0 | ||
| BARCLAYS PLC | NOTE 8.250%12/3 | 06738EAA3 | 151195 | 145335000 | SH | SOLE | 145335000 | 0 | 0 | ||
| ROYAL BK OF SCOTLAND PLC | DEBT 7.500%12/3 | 780099CJ4 | 138885 | 146580000 | SH | SOLE | 146580000 | 0 | 0 | ||
| WELLS FARGO & CO NEW | PERP PFD CNV A | 949746804 | 94296 | 79240 | SH | SOLE | 79240 | 0 | 0 | ||
| BARCLAYS PLC | NOTE 6.625%12/3 | 06738EAB1 | 83991 | 89698000 | SH | SOLE | 89698000 | 0 | 0 | ||
| ING GROEP N V | DBCV 6.500%12/3 | 456837AF0 | 52558 | 54500000 | SH | SOLE | 54500000 | 0 | 0 | ||
| ROYAL BK OF SCOTLAND PLC | NOTE 8.000%12/3 | 780099CK1 | 33034 | 34500000 | SH | SOLE | 34500000 | 0 | 0 | ||
| ROYAL BK SCOTLAND GROUP PLC | SP ADR L RP PF | 780097788 | 31309 | 1315504 | SH | SOLE | 1315504 | 0 | 0 | ||
| HSBC HLDGS PLC | ADR A 1/40PF A | 404280604 | 29977 | 1189566 | SH | SOLE | 1189566 | 0 | 0 |
| Issuer | Title of Class | CUSIP | Value(1000s) | Share | SH/PRN | Put/Call | Investment Discretion | Other Manager | Sole | Shared | None |
|---|---|---|---|---|---|---|---|---|---|---|---|
| LLOYDS BANKING GROUP PLC | SDCV 7.500%12/3 | 539439AG4 | 197547 | 191292000 | SH | SOLE | 191292000 | 0 | 0 | ||
| BARCLAYS PLC | NOTE 8.250%12/3 | 06738EAA3 | 154541 | 154734000 | SH | SOLE | 154734000 | 0 | 0 | ||
| ROYAL BK OF SCOTLAND PLC | DEBT 7.500%12/3 | 780099CJ4 | 141919 | 154680000 | SH | SOLE | 154680000 | 0 | 0 | ||
| HSBC HLDGS PLC | NOTE 6.875%12/3 | 404280BC2 | 134269 | 129105000 | SH | SOLE | 129105000 | 0 | 0 | ||
| WELLS FARGO & CO NEW | PERP PFD CNV A | 949746804 | 103747 | 79240 | SH | SOLE | 79240 | 0 | 0 | ||
| BARCLAYS PLC | PRFD 6.625%12/3 | 06738EAB1 | 82260 | 90148000 | SH | SOLE | 90148000 | 0 | 0 | ||
| ING GROEP N V | DBCV 6.500%12/3 | 456837AF0 | 52831 | 54500000 | SH | SOLE | 54500000 | 0 | 0 | ||
| HSBC HLDGS PLC | ADR A 1/40PF A | 404280604 | 32760 | 1277204 | SH | SOLE | 1277204 | 0 | 0 | ||
| ROYAL BK OF SCOTLAND PLC | NOTE 8.000%12/3 | 780099CK1 | 32430 | 34500000 | SH | SOLE | 34500000 | 0 | 0 | ||
| BARCLAYS BANK PLC | SP ADR 7.1%PF3 | 06739H776 | 28141 | 1092862 | SH | SOLE | 1092862 | 0 | 0 |
| Issuer | Title of Class | CUSIP | Value(1000s) | Share | SH/PRN | Put/Call | Investment Discretion | Other Manager | Sole | Shared | None |
|---|---|---|---|---|---|---|---|---|---|---|---|
| LLOYDS BANKING GROUP PLC | SDCV 7.500%12/3 | 539439AG4 | 179960 | 184102000 | SH | SOLE | 184102000 | 0 | 0 | ||
| HSBC HLDGS PLC | NOTE 6.875%12/2 | 404280BC2 | 115325 | 115905000 | SH | SOLE | 115905000 | 0 | 0 | ||
| ROYAL BK OF SCOTLAND PLC | DEBT 7.500%12/3 | 780099CJ4 | 105497 | 115297000 | SH | SOLE | 115297000 | 0 | 0 | ||
| BARCLAYS PLC | NOTE 8.250%12/2 | 06738EAA3 | 104675 | 107089000 | SH | SOLE | 107089000 | 0 | 0 | ||
| WELLS FARGO & CO NEW | PERP PFD CNV A | 949746804 | 99232 | 76379 | SH | SOLE | 76379 | 0 | 0 | ||
| BARCLAYS PLC | NOTE 6.625%12/2 | 06738EAB1 | 80457 | 90148000 | SH | SOLE | 90148000 | 0 | 0 | ||
| HSBC HLDGS PLC | ADR A 1/40PF A | 404280604 | 33255 | 1281948 | SH | SOLE | 1281948 | 0 | 0 | ||
| ING GROEP N V | DBCV 6.500%12/2 | 456837AF0 | 31546 | 34500000 | SH | SOLE | 34500000 | 0 | 0 | ||
| ROYAL BK OF SCOTLAND PLC | NOTE 8.000%12/3 | 780099CK1 | 30772 | 33000000 | SH | SOLE | 33000000 | 0 | 0 | ||
| ROYAL BK SCOTLAND GROUP PLC | SP ADR L RP PF | 780097788 | 29811 | 1202529 | SH | SOLE | 1202529 | 0 | 0 |
| Issuer | Title of Class | CUSIP | Value(1000s) | Share | SH/PRN | Put/Call | Investment Discretion | Other Manager | Sole | Shared | None |
|---|---|---|---|---|---|---|---|---|---|---|---|
| WELLS FARGO & CO NEW | PERP PFD CNV A | 949746804 | 95140 | 76379 | SH | SOLE | 76379 | 0 | 0 | ||
| HSBC HLDGS PLC | ADR A 1/40PF A | 404280604 | 34975 | 1301677 | SH | SOLE | 1301677 | 0 | 0 | ||
| ROYAL BK SCOTLAND GROUP PLC | SP ADR L RP PF | 780097788 | 29720 | 1083817 | SH | SOLE | 1083817 | 0 | 0 | ||
| BARCLAYS BANK PLC | SP ADR 7.1%PF3 | 06739H776 | 27844 | 1090209 | SH | SOLE | 1090209 | 0 | 0 | ||
| ING GROEP N V | DBCV 6.500%12/2 | 456837AF0 | 20616 | 22500000 | SH | SOLE | 22500000 | 0 | 0 | ||
| BARCLAYS BANK PLC | ADS7.75%PFD S4 | 06739H511 | 18358 | 642310 | SH | SOLE | 642310 | 0 | 0 | ||
| BARCLAYS BANK PLC | ADR PFD SR 5 | 06739H362 | 15341 | 550480 | SH | SOLE | 550480 | 0 | 0 | ||
| BARCLAYS BK PLC | ADR 2 PREF 2 | 06739F390 | 12683 | 497171 | SH | SOLE | 497171 | 0 | 0 | ||
| HANCOCK JOHN PFD INCOME FD I | COM | 41021P103 | 12643 | 670344 | SH | SOLE | 670344 | 0 | 0 | ||
| BLACKROCK CR ALLCTN INC TR | COM | 092508100 | 12101 | 966571 | SH | SOLE | 966571 | 0 | 0 |
| Issuer | Title of Class | CUSIP | Value(1000s) | Share | SH/PRN | Put/Call | Investment Discretion | Other Manager | Sole | Shared | None |
|---|---|---|---|---|---|---|---|---|---|---|---|
| WELLS FARGO & CO NEW | PERP PFD CNV A | 949746804 | 88531 | 76379 | SH | SOLE | 76379 | 0 | 0 | ||
| HSBC HLDGS PLC | ADR A 1/40PF A | 404280604 | 37853 | 1480368 | SH | SOLE | 1480368 | 0 | 0 | ||
| ROYAL BK SCOTLAND GROUP PLC | SP ADR L RP PF | 780097788 | 31284 | 1253234 | SH | SOLE | 1253234 | 0 | 0 | ||
| BARCLAYS BANK PLC | SP ADR 7.1%PF3 | 06739H776 | 28535 | 1098778 | SH | SOLE | 1098778 | 0 | 0 | ||
| ING GROEP N V | DBCV 6.500%12/2 | 456837AF0 | 21980 | 22500000 | SH | SOLE | 22500000 | 0 | 0 | ||
| BARCLAYS BANK PLC | ADS7.75%PFD S4 | 06739H511 | 18753 | 711706 | SH | SOLE | 711706 | 0 | 0 | ||
| BARCLAYS BANK PLC | ADR PFD SR 5 | 06739H362 | 16497 | 621830 | SH | SOLE | 621830 | 0 | 0 | ||
| BARCLAYS BK PLC | ADR 2 PREF 2 | 06739F390 | 13740 | 515936 | SH | SOLE | 515936 | 0 | 0 | ||
| HANCOCK JOHN PFD INCOME FD I | COM | 41021P103 | 11972 | 670344 | SH | SOLE | 670344 | 0 | 0 | ||
| BLACKROCK CR ALLCTN INC TR | COM | 092508100 | 11927 | 966571 | SH | SOLE | 966571 | 0 | 0 |
| Issuer | Title of Class | CUSIP | Value(1000s) | Share | SH/PRN | Put/Call | Investment Discretion | Other Manager | Sole | Shared | None |
|---|---|---|---|---|---|---|---|---|---|---|---|
| WELLS FARGO & CO NEW | PERP PFD CNV A | 949746804 | 89211 | 76379 | SH | SOLE | 76379 | 0 | 0 | ||
| ROYAL BK SCOTLAND GROUP PLC | SP ADR L RP PF | 780097788 | 52984 | 1307633 | SH | SOLE | 1307633 | 0 | 0 | ||
| HSBC HLDGS PLC | ADR A 1/40PF A | 404280604 | 36640 | 1448250 | SH | SOLE | 1448250 | 0 | 0 | ||
| BARCLAYS BANK PLC | SP ADR 7.1%PF3 | 06739H776 | 28126 | 1098709 | SH | SOLE | 1098709 | 0 | 0 | ||
| BARCLAYS BANK PLC | ADS7.75%PFD S4 | 06739H511 | 16822 | 651206 | SH | SOLE | 651206 | 0 | 0 | ||
| ING GROEP N V | DBCV 6.500%12/2 | 456837AF0 | 16669 | 17500000 | SH | SOLE | 17500000 | 0 | 0 | ||
| BARCLAYS BANK PLC | ADR PFD SR 5 | 06739H362 | 16268 | 628825 | SH | SOLE | 628825 | 0 | 0 | ||
| BARCLAYS BK PLC | ADR 2 PREF 2 | 06739F390 | 14277 | 559863 | SH | SOLE | 559863 | 0 | 0 | ||
| BLACKROCK CR ALLCTN INC TR | COM | 092508100 | 11763 | 966571 | SH | SOLE | 966571 | 0 | 0 | ||
| HANCOCK JOHN PFD INCOME FD I | COM | 41021P103 | 11168 | 670344 | SH | SOLE | 670344 | 0 | 0 |
| Issuer | Title of Class | CUSIP | Value(1000s) | Share | SH/PRN | Put/Call | Investment Discretion | Other Manager | Sole | Shared | None |
|---|---|---|---|---|---|---|---|---|---|---|---|
| WELLS FARGO & CO NEW | PERP PFD CNV A | 949746804 | 89746 | 76379 | SH | SOLE | 76379 | 0 | 0 | ||
| HSBC HLDGS PLC | ADR A 1/40PF A | 404280604 | 38361 | 1520434 | SH | SOLE | 1520434 | 0 | 0 | ||
| ROYAL BK SCOTLAND GROUP PLC | SP ADR L RP PF | 780097788 | 35351 | 1458969 | SH | SOLE | 1458969 | 0 | 0 | ||
| BARCLAYS BANK PLC | SP ADR 7.1%PF3 | 06739H776 | 29097 | 1104085 | SH | SOLE | 1104085 | 0 | 0 | ||
| BARCLAYS BANK PLC | ADS7.75%PFD S4 | 06739H511 | 16904 | 652405 | SH | SOLE | 652405 | 0 | 0 | ||
| BARCLAYS BANK PLC | ADR PFD SR 5 | 06739H362 | 16636 | 640080 | SH | SOLE | 640080 | 0 | 0 | ||
| ROYAL BK SCOTLAND GROUP PLC | ADR PREF SHS Q | 780097754 | 15140 | 598409 | SH | SOLE | 598409 | 0 | 0 | ||
| BARCLAYS BK PLC | ADR 2 PREF 2 | 06739F390 | 14272 | 561669 | SH | SOLE | 561669 | 0 | 0 | ||
| BLACKROCK CR ALLCTN INC TR | COM | 092508100 | 12246 | 966571 | SH | SOLE | 966571 | 0 | 0 | ||
| ING GROEP N V | DBCV 6.500%12/2 | 456837AF0 | 11742 | 12000000 | SH | SOLE | 12000000 | 0 | 0 |
| Issuer | Title of Class | CUSIP | Value(1000s) | Share | SH/PRN | Put/Call | Investment Discretion | Other Manager | Sole | Shared | None |
|---|---|---|---|---|---|---|---|---|---|---|---|
| WELLS FARGO & CO NEW | PERP PFD CNV A | 949746804 | 55549 | 45532 | SH | SOLE | 45532 | 0 | 0 | ||
| HSBC HLDGS PLC | ADR A 1/40PF A | 404280604 | 38716 | 1511133 | SH | SOLE | 1538133 | 0 | 0 | ||
| ROYAL BK SCOTLAND GROUP PLC | SP ADR L RP PF | 780097788 | 30931 | 1273116 | SH | SOLE | 1273116 | 0 | 0 | ||
| BARCLAYS BANK PLC | SP ADR 7.1%PF3 | 06739H776 | 29474 | 1140769 | SH | SOLE | 1140769 | 0 | 0 | ||
| BARCLAYS BANK PLC | ADS7.75%PFD S4 | 06739H511 | 17932 | 688687 | SH | SOLE | 754187 | 0 | 0 | ||
| ROYAL BK SCOTLAND GROUP PLC | ADR PREF SHS Q | 780097754 | 17346 | 688622 | SH | SOLE | 688622 | 0 | 0 | ||
| BARCLAYS BANK PLC | ADR PFD SR 5 | 06739H362 | 17288 | 658580 | SH | SOLE | 658580 | 0 | 0 | ||
| BARCLAYS BK PLC | ADR 2 PREF 2 | 06739F390 | 14916 | 595311 | SH | SOLE | 595311 | 0 | 0 | ||
| BLACKROCK CR ALLCTN INC TR | COM | 092508100 | 13318 | 989480 | SH | SOLE | 989480 | 0 | 0 | ||
| HANCOCK JOHN PFD INCOME FD I | COM | 41021P103 | 12535 | 670344 | SH | SOLE | 670344 | 0 | 0 |
| Issuer | Title of Class | CUSIP | Value(1000s) | Share | SH/PRN | Put/Call | Investment Discretion | Other Manager | Sole | Shared | None |
|---|---|---|---|---|---|---|---|---|---|---|---|
| WELLS FARGO & CO NEW | PERP PFD CNV A | 949746804 | 55309 | 45532 | SH | SOLE | 45532 | 0 | 0 | ||
| HSBC HLDGS PLC | ADR A 1/40PF A | 404280604 | 38991 | 1517999 | SH | SOLE | 1517999 | 0 | 0 | ||
| ROYAL BK SCOTLAND GROUP PLC | SP ADR L RP PF | 780097788 | 36959 | 155463 | SH | DFND | 155463 | 0 | 0 | ||
| ROYAL BK SCOTLAND GROUP PLC | SP ADR L RP PF | 780097788 | 29818 | 1268280 | SH | SOLE | 1268280 | 0 | 0 | ||
| BARCLAYS BANK PLC | SP ADR 7.1%PF3 | 06739H776 | 29721 | 1151668 | SH | SOLE | 1151668 | 0 | 0 | ||
| ROYAL BK SCOTLAND GROUP PLC | ADR PREF SHS Q | 780097754 | 20609 | 812965 | SH | SOLE | 812965 | 0 | 0 | ||
| BARCLAYS BANK PLC | ADR PFD SR 5 | 06739H362 | 18914 | 685302 | SH | SOLE | 685302 | 0 | 0 | ||
| BARCLAYS BANK PLC | ADS7.75%PFD S4 | 06739H511 | 18016 | 694819 | SH | SOLE | 694819 | 0 | 0 | ||
| BARCLAYS BANK PLC | ADR PFD SR 5 | 06739H362 | 17873 | 39930 | SH | DFND | 39930 | 0 | 0 | ||
| BARCLAYS BK PLC | ADR 2 PREF 2 | 06739F390 | 14844 | 582226 | SH | SOLE | 582226 | 0 | 0 |
| Issuer | Title of Class | CUSIP | Value(1000s) | Share | SH/PRN | Put/Call | Investment Discretion | Other Manager | Sole | Shared | None |
|---|---|---|---|---|---|---|---|---|---|---|---|
| WELLS FARGO & CO NEW | PERP PFD CNV A | 949746804 | 58193 | 48393 | SH | SOLE | 48393 | 0 | 0 | ||
| HSBC HLDGS PLC | ADR A 1/40PF A | 404280604 | 39628 | 1575008 | SH | SOLE | 1575008 | 0 | 0 | ||
| ROYAL BK SCOTLAND GROUP PLC | SP ADR L RP PF | 780097788 | 33126 | 1429731 | SH | SOLE | 1429731 | 0 | 0 | ||
| BARCLAYS BANK PLC | SP ADR 7.1%PF3 | 06739H776 | 30070 | 1168201 | SH | SOLE | 1168201 | 0 | 0 | ||
| ROYAL BK SCOTLAND GROUP PLC | ADR PREF SHS Q | 780097754 | 20369 | 814423 | SH | SOLE | 814423 | 0 | 0 | ||
| BARCLAYS BANK PLC | ADS7.75%PFD S4 | 06739H511 | 19757 | 764011 | SH | SOLE | 764011 | 0 | 0 | ||
| BARCLAYS BANK PLC | ADR PFD SR 5 | 06739H362 | 19111 | 735900 | SH | SOLE | 735900 | 0 | 0 | ||
| BLACKROCK CR ALLCTN INC TR | COM | 092508100 | 14710 | 1105193 | SH | SOLE | 1105193 | 0 | 0 | ||
| BARCLAYS BK PLC | ADR 2 PREF 2 | 06739F390 | 14310 | 564694 | SH | SOLE | 564694 | 0 | 0 | ||
| HANCOCK JOHN PFD INCOME FD I | COM | 41021P103 | 11738 | 670344 | SH | SOLE | 670344 | 0 | 0 |
| Issuer | Title of Class | CUSIP | Value(1000s) | Share | SH/PRN | Put/Call | Investment Discretion | Other Manager | Sole | Shared | None |
|---|---|---|---|---|---|---|---|---|---|---|---|
| WELLS FARGO & CO NEW | PERP PFD CNV A | 949746804 | 58780 | 48393 | SH | SOLE | 48393 | 0 | 0 | ||
| HSBC HLDGS PLC | ADR A 1/40PF A | 404280604 | 39768 | 1569321 | SH | SOLE | 1569321 | 0 | 0 | ||
| ROYAL BK SCOTLAND GROUP PLC | SP ADR L RP PF | 780097788 | 31284 | 1357416 | SH | SOLE | 1357416 | 0 | 0 | ||
| BARCLAYS BANK PLC | SP ADR 7.1%PF3 | 06739H776 | 29880 | 1166703 | SH | SOLE | 1166703 | 0 | 0 | ||
| BARCLAYS BANK PLC | ADS7.75%PFD S4 | 06739H511 | 20185 | 783182 | SH | SOLE | 783182 | 0 | 0 | ||
| ROYAL BK SCOTLAND GROUP PLC | ADR PREF SHS Q | 780097754 | 19958 | 801200 | SH | SOLE | 801200 | 0 | 0 | ||
| BARCLAYS BANK PLC | ADR PFD SR 5 | 06739H362 | 19431 | 751392 | SH | SOLE | 751392 | 0 | 0 | ||
| BLACKROCK CR ALLCTN INC TR | COM | 092508100 | 15312 | 1113585 | SH | SOLE | 1113585 | 0 | 0 | ||
| HANCOCK JOHN PFD INCOME FD I | COM | 41021P103 | 12006 | 670344 | SH | SOLE | 670344 | 0 | 0 | ||
| BARCLAYS BK PLC | ADR 2 PREF 2 | 06739F390 | 6686 | 263733 | SH | SOLE | 263733 | 0 | 0 |
| Issuer | Title of Class | CUSIP | Value(1000s) | Share | SH/PRN | Put/Call | Investment Discretion | Other Manager | Sole | Shared | None |
|---|---|---|---|---|---|---|---|---|---|---|---|
| WELLS FARGO & CO NEW | PERP PFD CNV A | 949746804 | 59620 | 50827 | SH | SOLE | 50827 | 0 | 0 | ||
| HSBC HLDGS PLC | ADR A 1/40PF A | 404280604 | 39733 | 1561210 | SH | SOLE | 1561210 | 0 | 0 | ||
| BARCLAYS BANK PLC | SP ADR 7.1%PF3 | 06739H776 | 29559 | 1151502 | SH | SOLE | 1151502 | 0 | 0 | ||
| ROYAL BK SCOTLAND GROUP PLC | SP ADR L RP PF | 780097788 | 26807 | 1242368 | SH | SOLE | 1242368 | 0 | 0 | ||
| BARCLAYS BANK PLC | ADR PFD SR 5 | 06739H362 | 20295 | 780292 | SH | SOLE | 780292 | 0 | 0 | ||
| BARCLAYS BANK PLC | ADS7.75%PFD S4 | 06739H511 | 19584 | 754921 | SH | SOLE | 754921 | 0 | 0 | ||
| BLACKROCK CR ALLCTN INC TR | COM | 092508100 | 16558 | 1224706 | SH | SOLE | 1224706 | 0 | 0 | ||
| HANCOCK JOHN PFD INCOME FD I | COM | 41021P103 | 11773 | 679727 | SH | SOLE | 679727 | 0 | 0 | ||
| ROYAL BK SCOTLAND GROUP PLC | ADR PREF SHS Q | 780097754 | 7108 | 301200 | SH | SOLE | 301200 | 0 | 0 | ||
| BARCLAYS BK PLC | ADR 2 PREF 2 | 06739F390 | 3199 | 126583 | SH | SOLE | 126583 | 0 | 0 |
| Issuer | Title of Class | CUSIP | Value(1000s) | Share | SH/PRN | Put/Call | Investment Discretion | Other Manager | Sole | Shared | None |
|---|---|---|---|---|---|---|---|---|---|---|---|
| WELLS FARGO & CO NEW | PERP PFD CNV A | 949746804 | 56846 | 51213 | SH | SOLE | 51213 | 0 | 0 | ||
| HSBC HLDGS PLC | ADR A 1/40PF A | 404280604 | 34907 | 1413239 | SH | SOLE | 1413239 | 0 | 0 | ||
| BARCLAYS BANK PLC | SP ADR 7.1%PF3 | 06739H776 | 28844 | 1145942 | SH | SOLE | 1145942 | 0 | 0 | ||
| ROYAL BK SCOTLAND GROUP PLC | SP ADR L RP PF | 780097788 | 27556 | 1410956 | SH | SOLE | 1410956 | 0 | 0 | ||
| BARCLAYS BANK PLC | ADR PFD SR 5 | 06739H362 | 21262 | 838063 | SH | SOLE | 838063 | 0 | 0 | ||
| BARCLAYS BANK PLC | ADS7.75%PFD S4 | 06739H511 | 19257 | 760266 | SH | SOLE | 760266 | 0 | 0 | ||
| BLACKROCK CR ALLCTN INC TR | COM | 092508100 | 15995 | 1224706 | SH | SOLE | 1224706 | 0 | 0 | ||
| HANCOCK JOHN PFD INCOME FD I | COM | 41021P103 | 10597 | 679727 | SH | SOLE | 679727 | 0 | 0 | ||
| ROYAL BK SCOTLAND GROUP PLC | ADR PREF SHS Q | 780097754 | 6527 | 301200 | SH | SOLE | 301200 | 0 | 0 | ||
| BARCLAYS BK PLC | ADR 2 PREF 2 | 06739F390 | 1863 | 77201 | SH | SOLE | 77201 | 0 | 0 |
| Issuer | Title of Class | CUSIP | Value(1000s) | Share | SH/PRN | Put/Call | Investment Discretion | Other Manager | Sole | Shared | None |
|---|---|---|---|---|---|---|---|---|---|---|---|
| WELLS FARGO & CO NEW | PERP PFD CNV A | 949746804 | 59620 | 52413 | SH | SOLE | 52413 | 0 | 0 | ||
| HSBC HLDGS PLC | ADR A 1/40PF A | 404280604 | 32142 | 1303978 | SH | SOLE | 1303978 | 0 | 0 | ||
| BARCLAYS BANK PLC | SP ADR 7.1%PF3 | 06739H776 | 28853 | 1154125 | SH | SOLE | 1154125 | 0 | 0 | ||
| ROYAL BK SCOTLAND GROUP PLC | SP ADR L RP PF | 780097788 | 27231 | 1373182 | SH | SOLE | 1373182 | 0 | 0 | ||
| BARCLAYS BANK PLC | ADR PFD SR 5 | 06739H362 | 21821 | 857737 | SH | SOLE | 857737 | 0 | 0 | ||
| BARCLAYS BANK PLC | ADS7.75%PFD S4 | 06739H511 | 20034 | 793441 | SH | SOLE | 793441 | 0 | 0 | ||
| BLACKROCK CR ALLCTN INC TR | COM | 092508100 | 15970 | 1224706 | SH | SOLE | 1224706 | 0 | 0 | ||
| BANK OF AMERICA CORPORATION | 7.25%CNV PFD L | 060505682 | 14387 | 13306 | SH | SOLE | 13306 | 0 | 0 | ||
| HANCOCK JOHN PFD INCOME FD I | COM | 41021P103 | 11342 | 677144 | SH | SOLE | 677144 | 0 | 0 | ||
| ROYAL BK SCOTLAND GROUP PLC | ADR PREF SHS Q | 780097754 | 6593 | 301200 | SH | SOLE | 301200 | 0 | 0 |
| Issuer | Title of Class | CUSIP | Value(1000s) | Share | SH/PRN | Put/Call | Investment Discretion | Other Manager | Sole | Shared | None |
|---|---|---|---|---|---|---|---|---|---|---|---|
| WELLS FARGO & CO NEW | PERP PFD CNV A | 949746804 | 44003 | 36977 | SH | SOLE | 36977 | 0 | 0 | ||
| HSBC HLDGS PLC | ADR A 1/40PF A | 404280604 | 32934 | 1323738 | SH | SOLE | 1323738 | 0 | 0 | ||
| BANK OF AMERICA CORPORATION | 7.25%CNV PFD L | 060505682 | 31599 | 28372 | SH | SOLE | 28372 | 0 | 0 | ||
| BARCLAYS BANK PLC | SP ADR 7.1%PF3 | 06739H776 | 28930 | 1156719 | SH | SOLE | 1156719 | 0 | 0 | ||
| ROYAL BK SCOTLAND GROUP PLC | SP ADR L RP PF | 780097788 | 28431 | 1389011 | SH | SOLE | 1389011 | 0 | 0 | ||
| BARCLAYS BANK PLC | ADR PFD SR 5 | 06739H362 | 25235 | 996266 | SH | SOLE | 996266 | 0 | 0 | ||
| BARCLAYS BANK PLC | ADS7.75%PFD S4 | 06739H511 | 20117 | 796716 | SH | SOLE | 796716 | 0 | 0 | ||
| BLACKROCK CR ALLCTN INC TR | COM | 092508100 | 15897 | 1224706 | SH | SOLE | 1224706 | 0 | 0 | ||
| HANCOCK JOHN PFD INCOME FD I | COM | 41021P103 | 12331 | 677144 | SH | SOLE | 677144 | 0 | 0 | ||
| ROYAL BK SCOTLAND GROUP PLC | ADR PREF SHS Q | 780097754 | 6753 | 302681 | SH | SOLE | 302681 | 0 | 0 |