<SEC-DOCUMENT>0000940400-25-005559.txt : 20251029
<SEC-HEADER>0000940400-25-005559.hdr.sgml : 20251029
<ACCEPTANCE-DATETIME>20251029122844
ACCESSION NUMBER:		0000940400-25-005559
CONFORMED SUBMISSION TYPE:	NPORT-P
PUBLIC DOCUMENT COUNT:		2
CONFORMED PERIOD OF REPORT:	20250829
FILED AS OF DATE:		20251029
DATE AS OF CHANGE:		20251029
PERIOD START:           	20251130

FILER:

	COMPANY DATA:	
		COMPANY CONFORMED NAME:			FLAHERTY & CRUMRINE PREFERRED & INCOME FUND INC
		CENTRAL INDEX KEY:			0000868578
		ORGANIZATION NAME:           	
		EIN:				954305694
		STATE OF INCORPORATION:			MD
		FISCAL YEAR END:			1130

	FILING VALUES:
		FORM TYPE:		NPORT-P
		SEC ACT:		1940 Act
		SEC FILE NUMBER:	811-06179
		FILM NUMBER:		251428749

	BUSINESS ADDRESS:	
		STREET 1:		301 E COLORADO BLVD STE 800
		STREET 2:		C/O FLAHERTY & CRUMRINE INC
		CITY:			PASADENA
		STATE:			CA
		ZIP:			91101
		BUSINESS PHONE:		(626) 795-7300

	MAIL ADDRESS:	
		STREET 1:		301 E COLORADO BLVD STE 800
		STREET 2:		C/O FLAHERTY & CRUMRINE INC
		CITY:			PASADENA
		STATE:			CA
		ZIP:			91101

	FORMER COMPANY:	
		FORMER CONFORMED NAME:	FLAHERTY & CRUMRINE PREFERRED INCOME FUND INC
		DATE OF NAME CHANGE:	20050708

	FORMER COMPANY:	
		FORMER CONFORMED NAME:	PREFERRED INCOME FUND INC
		DATE OF NAME CHANGE:	19920703
</SEC-HEADER>
<DOCUMENT>
<TYPE>NPORT-P
<SEQUENCE>1
<FILENAME>primary_doc.xml
<TEXT>
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        <name>AERCAP IRELAND CAP/GLOBA</name>
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        <name>EDISON INTERNATIONAL</name>
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        <title>Edison International</title>
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          <maturityDt>N/A</maturityDt>
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        <name>ENBRIDGE INC</name>
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        <name>SOCIETE GENERALE</name>
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        <name>GENERAL MOTORS FINL CO</name>
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        <title>Evergy Inc</title>
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        <name>SCE TRUST VIII</name>
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        <name>COMED FINANCING III</name>
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        <name>FT REAL ESTATE SECS CO</name>
        <lei>0002671824</lei>
        <title>FT Real Estate Securities Co Inc</title>
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        <name>ANNALY CAPITAL MGMT</name>
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      <invstOrSec>
        <name>BANK OF NOVA SCOTIA</name>
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      <invstOrSec>
        <name>MORGAN STANLEY</name>
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      <invstOrSec>
        <name>DIME COMMUNITY BANCSHARE</name>
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      <invstOrSec>
        <name>BANCO BILBAO VIZCAYA ARG</name>
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        <name>NEXTERA ENERGY CAPITAL</name>
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        <title>NextEra Energy Capital Holdings Inc</title>
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        <name>WAFD INC</name>
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        <name>ASSURANT INC</name>
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        <name>BRITISH TELECOMMUNICATIO</name>
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        <title>British Telecommunications PLC</title>
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        <invCountry>GB</invCountry>
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        <name>FARM CREDIT BK OF TEXAS</name>
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        <title>Farm Credit Bank of Texas</title>
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        <issuerCat>USGSE</issuerCat>
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          <maturityDt>N/A</maturityDt>
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        <name>KUVARE US HOLDINGS INC</name>
        <lei>254900MGBERNLZXF7O58</lei>
        <title>Kuvare US Holdings Inc</title>
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        <name>SYNOVUS FINANCIAL CORP</name>
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        <name>COMPEER FINANCIAL ACA</name>
        <lei>54930020HTACTODKHT04</lei>
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        <name>TPG RE FINANCE TRUST INC</name>
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        <name>CITIZENS FINANCIAL GROUP</name>
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        <name>BARCLAYS PLC</name>
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        <title>Barclays PLC</title>
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        <name>REINSURANCE GRP OF AMER</name>
        <lei>LORM1GNEU1DKEW527V90</lei>
        <title>Reinsurance Group of America Inc</title>
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        <name>STIFEL FINANCIAL CORP</name>
        <lei>549300E5F07FE5GHJX84</lei>
        <title>Stifel Financial Corp</title>
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        <name>ROYAL BANK OF CANADA</name>
        <lei>ES7IP3U3RHIGC71XBU11</lei>
        <title>Royal Bank of Canada</title>
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        <invCountry>CA</invCountry>
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        <lei>N/A</lei>
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          <ticker value="EIX"/>
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      <invstOrSec>
        <name>CITIGROUP INC</name>
        <lei>6SHGI4ZSSLCXXQSBB395</lei>
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          <maturityDt>N/A</maturityDt>
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      <invstOrSec>
        <name>ALGONQUIN PWR &amp; UTILITY</name>
        <lei>549300K5VIUTJXQL7X75</lei>
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        <name>M&amp;T BANK CORPORATION</name>
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        <name>AXIS CAPITAL HLDGS LTD</name>
        <lei>635400VD2NQBYAHMEM55</lei>
        <title>Axis Capital Holdings Ltd</title>
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        <invCountry>BM</invCountry>

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      <invstOrSec>
        <name>HUNTINGTON BANCSHARES</name>
        <lei>549300XTVCVV9I7B5T19</lei>
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          <isin value="US446150AT18"/>
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        <balance>875000.00000000</balance>
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      <invstOrSec>
        <name>NEXTERA ENERGY CAPITAL</name>
        <lei>UMI46YPGBLUE4VGNNT48</lei>
        <title>NextEra Energy Capital Holdings Inc</title>
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        <name>SBL HOLDINGS INC</name>
        <lei>635400MJW3QDSBJRKQ59</lei>
        <title>SBL Holdings Inc</title>
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        <invCountry>US</invCountry>
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          <maturityDt>N/A</maturityDt>
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      <invstOrSec>
        <name>TELUS CORP</name>
        <lei>894500WE70KKZRQMBU11</lei>
        <title>TELUS Corp</title>
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        <balance>460000.00000000</balance>
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        <name>SEMPRA</name>
        <lei>PBBKGKLRK5S5C0Y4T545</lei>
        <title>Sempra</title>
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        <name>FULTON FINANCIAL CORP</name>
        <lei>5493005QLZ6O1BNC0C11</lei>
        <title>Fulton Financial Corp</title>
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        <name>GLOBAL ATLANTIC</name>
        <lei>98450051B2E65CAA7E94</lei>
        <title>Global Atlantic Fin Co</title>
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        <name>SOUTHERN CO</name>
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        <name>CITIGROUP INC</name>
        <lei>6SHGI4ZSSLCXXQSBB395</lei>
        <title>Citigroup Inc</title>
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        <name>FIFTH THIRD BANCORP</name>
        <lei>THRNG6BD57P9QWTQLG42</lei>
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        <name>PNC FINANCIAL SERVICES</name>
        <lei>CFGNEKW0P8842LEUIA51</lei>
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        <name>AMERICAN NATIONAL GROUP</name>
        <lei>549300RK5RZQ740FPL83</lei>
        <title>American National Group Inc</title>
        <cusip>025676AR8</cusip>
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        <invCountry>US</invCountry>
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      <invstOrSec>
        <name>LEHMAN BROS HLDG-ESCROW</name>
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      <invstOrSec>
        <name>GLOBAL ATLANTIC FIN CO</name>
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        <name>VALLEY NATIONAL BANCORP</name>
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          <isin value="US9197943056"/>
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        <name>RAYMOND JAMES FINANCIAL</name>
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      <invstOrSec>
        <name>PARTNERRE LTD</name>
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        <title>PartnerRe Ltd</title>
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          <isin value="BMG686031698"/>
          <ticker value="PRE"/>
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        <curCd>USD</curCd>
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        <name>WELLS FARGO &amp; COMPANY</name>
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        <name>ARCH CAPITAL GROUP LTD</name>
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        <name>CITIGROUP INC</name>
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        <name>AERCAP IRELAND CAP/GLOBA</name>
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        <name>EVEREST REINSURANCE HLDG</name>
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        <title>Everest Reinsurance Holdings Inc</title>
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        <name>CVS HEALTH CORP</name>
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        <name>ENERGY TRANSFER LP</name>
        <lei>MTLVN9N7JE8MIBIJ1H73</lei>
        <title>Energy Transfer LP</title>
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        <name>SOCIETE GENERALE</name>
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        <title>Societe Generale SA</title>
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        <name>CITIZENS FINANCIAL GROUP</name>
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        <title>Citizens Financial Group Inc</title>
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        <name>AFFILIATED MANAGERS GROU</name>
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        <title>Affiliated Managers Group Inc</title>
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          <ticker value="AMG"/>
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        <name>KEYCORP</name>
        <lei>RKPI3RZGV1V1FJTH5T61</lei>
        <title>KeyCorp</title>
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        <invCountry>US</invCountry>
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        <name>FMC CORP</name>
        <lei>CKDHZ2X64EEBQCSP7013</lei>
        <title>FMC Corp</title>
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          <isCashCollateral>N</isCashCollateral>
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      </invstOrSec>
      <invstOrSec>
        <name>AMERICAN ELECTRIC POWER</name>
        <lei>1B4S6S7G0TW5EE83BO58</lei>
        <title>American Electric Power Co Inc</title>
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          <isin value="US025537BA89"/>
          <other otherDesc="SEDOL" value="BSY2LX7"/>
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        <balance>995000.00000000</balance>
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        <curCd>USD</curCd>
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        <fairValLevel>2</fairValLevel>
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      </invstOrSec>
      <invstOrSec>
        <name>WELLS FARGO &amp; COMPANY</name>
        <lei>PBLD0EJDB5FWOLXP3B76</lei>
        <title>Wells Fargo &amp; Co</title>
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          <isin value="US94988U1280"/>
          <ticker value="WFC"/>
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        <curCd>USD</curCd>
        <valUSD>517320.00000000</valUSD>
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        <assetCat>EP</assetCat>
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        <invCountry>US</invCountry>
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      </invstOrSec>
      <invstOrSec>
        <name>STANDARD CHARTERED PLC</name>
        <lei>U4LOSYZ7YG4W3S5F2G91</lei>
        <title>Standard Chartered PLC</title>
        <cusip>853254BX7</cusip>
        <identifiers>
          <isin value="US853254BX70"/>
          <other otherDesc="SEDOL" value="BMF9NP1"/>
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        <balance>350000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>323537.34000000</valUSD>
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        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>GB</invCountry>
        <isRestrictedSec>N</isRestrictedSec>
        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>N/A</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>4.75000000</annualizedRt>
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          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>BlackRock Liquidity Funds T-Fund</name>
        <lei>5493002L9DNZ83RX7V61</lei>
        <title>BlackRock Liquidity Funds T-Fund</title>
        <cusip>09248U718</cusip>
        <identifiers>
          <isin value="US09248U7182"/>
          <ticker value="TSTXX"/>
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        <balance>3596257.72000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>3596257.72000000</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>
          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>TRUIST FINANCIAL CORP</name>
        <lei>549300DRQQI75D2JP341</lei>
        <title>Truist Financial Corp</title>
        <cusip>89832QAF6</cusip>
        <identifiers>
          <isin value="US89832QAF63"/>
          <other otherDesc="SEDOL" value="BMYXXZ4"/>
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        <balance>440000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>437283.09000000</valUSD>
        <pctVal>0.271527941003</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>
        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>N/A</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.10000000</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>BARCLAYS PLC</name>
        <lei>213800LBQA1Y9L22JB70</lei>
        <title>Barclays PLC</title>
        <cusip>06738EBT1</cusip>
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          <isin value="US06738EBT10"/>
          <other otherDesc="SEDOL" value="BNVY357"/>
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        <balance>350000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>330882.72000000</valUSD>
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        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>GB</invCountry>
        <isRestrictedSec>N</isRestrictedSec>
        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>N/A</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>4.37500000</annualizedRt>
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          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
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          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>CITIZENS FINANCIAL GROUP</name>
        <lei>2138004JDDA4ZQUPFW65</lei>
        <title>Citizens Financial Group Inc</title>
        <cusip>174610600</cusip>
        <identifiers>
          <isin value="US1746106004"/>
          <ticker value="CFG"/>
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        <balance>29000.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>765020.00000000</valUSD>
        <pctVal>0.475033931511</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 CO</name>
        <lei>ZUE8T73ROZOF6FLBAR73</lei>
        <title>Capital One Financial Corp</title>
        <cusip>14040H824</cusip>
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          <isin value="US14040H8245"/>
          <ticker value="COF"/>
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        <balance>13875.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>273615.00000000</valUSD>
        <pctVal>0.169899361023</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>PNC FINANCIAL SERVICES</name>
        <lei>CFGNEKW0P8842LEUIA51</lei>
        <title>PNC Financial Services Group Inc/The</title>
        <cusip>693475BC8</cusip>
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          <isin value="US693475BC86"/>
          <other otherDesc="SEDOL" value="BNHXFV8"/>
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        <balance>310000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>300193.46000000</valUSD>
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        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>
        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>N/A</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>3.40000000</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>TORONTO-DOMINION BANK</name>
        <lei>PT3QB789TSUIDF371261</lei>
        <title>Toronto-Dominion Bank/The</title>
        <cusip>89116CKP1</cusip>
        <identifiers>
          <isin value="US89116CKP13"/>
          <other otherDesc="SEDOL" value="BPLZ2M4"/>
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        <balance>395000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>411346.68000000</valUSD>
        <pctVal>0.255422904779</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>CA</invCountry>
        <isRestrictedSec>N</isRestrictedSec>
        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2084-07-31</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>7.25000000</annualizedRt>
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          <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>M&amp;T BANK CORPORATION</name>
        <lei>549300WYXDDBYRASEG81</lei>
        <title>M&amp;T Bank Corp</title>
        <cusip>55261F872</cusip>
        <identifiers>
          <isin value="US55261F8721"/>
          <ticker value="MTB"/>
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        <balance>17600.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>435600.00000000</valUSD>
        <pctVal>0.270482837790</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>BANCO SANTANDER SA</name>
        <lei>5493006QMFDDMYWIAM13</lei>
        <title>Banco Santander SA</title>
        <cusip>05971KAQ2</cusip>
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          <isin value="US05971KAQ22"/>
          <other otherDesc="SEDOL" value="BLFB1P6"/>
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        <balance>1400000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>1653783.60000000</valUSD>
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        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>ES</invCountry>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>N/A</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>9.62500000</annualizedRt>
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        <name>NORTHPOINTE BANCSHARES I</name>
        <lei>549300EYMKMD4WKEKP72</lei>
        <title>Northpointe Bancshares Inc</title>
        <cusip>66661N308</cusip>
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          <isin value="US66661N3089"/>
          <ticker value="NRTBNC"/>
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        <balance>50000.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>1231250.00000000</valUSD>
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        <assetCat>EP</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>Y</isRestrictedSec>
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        <name>NISOURCE INC</name>
        <lei>549300D8GOWWH0SJB189</lei>
        <title>NiSource Inc</title>
        <cusip>65473PAR6</cusip>
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          <isin value="US65473PAR64"/>
          <other otherDesc="SEDOL" value="BNRR1H8"/>
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        <balance>595000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>620161.96000000</valUSD>
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        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2054-11-30</maturityDt>
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          <annualizedRt>6.95000000</annualizedRt>
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        <name>GOLDMAN SACHS GROUP INC</name>
        <lei>784F5XWPLTWKTBV3E584</lei>
        <title>Goldman Sachs Group Inc/The</title>
        <cusip>38148BAE8</cusip>
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          <isin value="US38148BAE83"/>
          <other otherDesc="SEDOL" value="BK6Q153"/>
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        <balance>600000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>604120.80000000</valUSD>
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        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>
        <fairValLevel>2</fairValLevel>
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          <maturityDt>N/A</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>7.37900000</annualizedRt>
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          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
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          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>NEXTERA ENERGY CAPITAL</name>
        <lei>UMI46YPGBLUE4VGNNT48</lei>
        <title>NextEra Energy Capital Holdings Inc</title>
        <cusip>65339KCW8</cusip>
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          <isin value="US65339KCW80"/>
          <other otherDesc="SEDOL" value="BSLJJN7"/>
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        <balance>400000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>411884.00000000</valUSD>
        <pctVal>0.255756549955</pctVal>
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        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>
        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2054-09-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>6.70000000</annualizedRt>
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          <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>
        <name>BELL CANADA</name>
        <lei>5493000G3EFX9S7TDE29</lei>
        <title>Bell Telephone Co of Canada or Bell Canada</title>
        <cusip>0778FPAQ2</cusip>
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          <isin value="US0778FPAQ20"/>
          <other otherDesc="SEDOL" value="BP4YTK5"/>
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        <balance>750000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>768963.75000000</valUSD>
        <pctVal>0.477482776074</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>CA</invCountry>
        <isRestrictedSec>N</isRestrictedSec>
        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2055-09-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>7.00000000</annualizedRt>
          <isDefault>N</isDefault>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>DELPHI FINANCIAL GROUP</name>
        <lei>5493001NGT0EEYMZG011</lei>
        <title>Delphi Financial Group Inc</title>
        <cusip>247131303</cusip>
        <identifiers>
          <isin value="US2471313039"/>
          <ticker value="TOMARI"/>
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        <balance>139279.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>3387961.68000000</valUSD>
        <pctVal>2.103731610495</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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      </invstOrSec>
      <invstOrSec>
        <name>ENSTAR GROUP LTD</name>
        <lei>213800AMAL5QFXVUCN04</lei>
        <title>Enstar Group Ltd</title>
        <cusip>29359U109</cusip>
        <identifiers>
          <isin value="US29359U1097"/>
          <ticker value="ESGR"/>
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        <balance>45000.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>1066500.00000000</valUSD>
        <pctVal>0.662235873515</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EP</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>BM</invCountry>

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      <invstOrSec>
        <name>AMERICAN EXPRESS CO</name>
        <lei>R4PP93JZOLY261QX3811</lei>
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      <invstOrSec>
        <name>JPMORGAN CHASE &amp; CO</name>
        <lei>8I5DZWZKVSZI1NUHU748</lei>
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          <isin value="US48128BAQ41"/>
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        <invCountry>US</invCountry>
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          <maturityDt>N/A</maturityDt>
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      <invstOrSec>
        <name>CMS ENERGY CORP</name>
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        <title>CMS Energy Corp</title>
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          <isin value="US125896BY50"/>
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        <balance>380000.00000000</balance>
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          <maturityDt>2055-06-01</maturityDt>
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          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>BANCO MERCANTIL DE NORTE</name>
        <lei>549300QTVYRPFHS0J362</lei>
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          <isin value="US05971PAB40"/>
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          <maturityDt>N/A</maturityDt>
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        <name>WESTERN ALLIANCE BANCORP</name>
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        <name>FLAGSTAR FINANCIAL INC</name>
        <lei>529900HVXOTLY61GL030</lei>
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        <name>TEXAS CAPITAL BANCSHARES</name>
        <lei>549300466Q2SXRX0YM48</lei>
        <title>Texas Capital Bancshares Inc</title>
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      <invstOrSec>
        <name>PNC FINANCIAL SERVICES</name>
        <lei>CFGNEKW0P8842LEUIA51</lei>
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          <isin value="US693475BD69"/>
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        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
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          <maturityDt>N/A</maturityDt>
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          <annualizedRt>6.00000000</annualizedRt>
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      <invstOrSec>
        <name>TRUIST FINANCIAL CORP</name>
        <lei>549300DRQQI75D2JP341</lei>
        <title>Truist Financial Corp</title>
        <cusip>89832QAE9</cusip>
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          <isin value="US89832QAE98"/>
          <other otherDesc="SEDOL" value="BMX3601"/>
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        <balance>810000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>808259.15000000</valUSD>
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        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>N/A</maturityDt>
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          <annualizedRt>4.95000000</annualizedRt>
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      <invstOrSec>
        <name>SCE TRUST VII</name>
        <lei>N/A</lei>
        <title>SCE Trust VII</title>
        <cusip>783892201</cusip>
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          <isin value="US7838922018"/>
          <ticker value="EIX"/>
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        <curCd>USD</curCd>
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        <invCountry>US</invCountry>
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        <name>DEUTSCHE BANK AG</name>
        <lei>7LTWFZYICNSX8D621K86</lei>
        <title>Deutsche Bank AG</title>
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        <invCountry>DE</invCountry>
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        <name>ATHENE HOLDING LTD</name>
        <lei>549300H316CT32FQXI76</lei>
        <title>Athene Holding Ltd</title>
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        <assetCat>EP</assetCat>
        <issuerCat>CORP</issuerCat>
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        <name>MORGAN STANLEY</name>
        <lei>IGJSJL3JD5P30I6NJZ34</lei>
        <title>Morgan Stanley</title>
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        <name>ARBOR REALTY TRUST INC</name>
        <lei>549300ASFUWYQO0RW077</lei>
        <title>Arbor Realty Trust Inc</title>
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        <name>EUSHI FINANCE INC</name>
        <lei>N/A</lei>
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        <name>MORGAN STANLEY</name>
        <lei>IGJSJL3JD5P30I6NJZ34</lei>
        <title>Morgan Stanley</title>
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        <name>BANCO MERCANTIL DE NORTE</name>
        <lei>549300QTVYRPFHS0J362</lei>
        <title>Banco Mercantil del Norte SA/Grand Cayman</title>
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        <name>AES CORP/THE</name>
        <lei>2NUNNB7D43COUIRE5295</lei>
        <title>AES Corp/The</title>
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        <name>REINSURANCE GRP OF AMER</name>
        <lei>LORM1GNEU1DKEW527V90</lei>
        <title>Reinsurance Group of America Inc</title>
        <cusip>759351885</cusip>
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          <ticker value="RGA"/>
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        <valUSD>1112371.20000000</valUSD>
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        <assetCat>EP</assetCat>
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        <invCountry>US</invCountry>
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      <invstOrSec>
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        <lei>O2RNE8IBXP4R0TD8PU41</lei>
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          <maturityDt>N/A</maturityDt>
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      <invstOrSec>
        <name>BANK OF AMERICA CORP</name>
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      <invstOrSec>
        <name>HSBC HOLDINGS PLC</name>
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      <invstOrSec>
        <name>BANK OF MONTREAL</name>
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      <invstOrSec>
        <name>UNIVERSAL INSURANCE HLDS</name>
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      <invstOrSec>
        <name>ENBRIDGE INC</name>
        <lei>98TPTUM4IVMFCZBCUR27</lei>
        <title>Enbridge Inc</title>
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        <invCountry>CA</invCountry>
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          <maturityDt>2084-01-15</maturityDt>
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      <invstOrSec>
        <name>ALTAGAS LTD</name>
        <lei>2549008X5V70MOS4HM10</lei>
        <title>AltaGas Ltd</title>
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        <balance>535000.00000000</balance>
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        <invCountry>CA</invCountry>
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          <maturityDt>2054-10-15</maturityDt>
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        <name>BARCLAYS PLC</name>
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        <name>BNP PARIBAS</name>
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        <invCountry>FR</invCountry>
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        <name>UBS GROUP AG</name>
        <lei>549300SZJ9VS8SGXAN81</lei>
        <title>UBS Group AG</title>
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        <invCountry>CH</invCountry>
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          <maturityDt>N/A</maturityDt>
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        <name>AMERICAN INTL GROUP</name>
        <lei>ODVCVCQG2BP6VHV36M30</lei>
        <title>American International Group Inc</title>
        <cusip>026874BS5</cusip>
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        <name>LLOYDS BANKING GROUP PLC</name>
        <lei>549300PPXHEU2JF0AM85</lei>
        <title>Lloyds Banking Group PLC</title>
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        <invCountry>GB</invCountry>
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        <name>BANCO BILBAO VIZCAYA ARG</name>
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        <title>Banco Bilbao Vizcaya Argentaria SA</title>
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        <name>ATHENE HOLDING LTD</name>
        <lei>549300H316CT32FQXI76</lei>
        <title>Athene Holding Ltd</title>
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        <issuerCat>CORP</issuerCat>
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        <name>THE FORTEGRA GROUP INC</name>
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        <title>Fortegra Group Inc/The</title>
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        <name>ARBOR REALTY TRUST INC</name>
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        <title>Arbor Realty Trust Inc</title>
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        <name>ALGONQUIN PWR &amp; UTILITY</name>
        <lei>549300K5VIUTJXQL7X75</lei>
        <title>Algonquin Power &amp; Utilities Corp</title>
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        <invCountry>CA</invCountry>
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        <name>LINCOLN NATIONAL CORP</name>
        <lei>EFQMQROEDSNBRIP7LE47</lei>
        <title>Lincoln National Corp</title>
        <cusip>534187BR9</cusip>
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        <name>CANADIAN IMPERIAL BANK</name>
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        <name>FIRST CITIZENS BANCSHARE</name>
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        <name>LIBERTY MUTUAL INSURANCE</name>
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        <name>WESBANCO INC</name>
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        <name>BALTA GROUP NV</name>
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        <name>DOMINION ENERGY INC</name>
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        <name>ENSTAR GROUP LTD</name>
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        <title>Enstar Group Ltd</title>
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        <name>ING GROEP NV</name>
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        <name>NATWEST GROUP PLC</name>
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        <title>NatWest Group PLC</title>
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        <name>MORGAN STANLEY</name>
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        <title>Morgan Stanley</title>
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        <name>CITIGROUP INC</name>
        <lei>6SHGI4ZSSLCXXQSBB395</lei>
        <title>Citigroup Inc</title>
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        <name>PECO ENERGY CAP TRST III</name>
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        <name>BANCO SANTANDER SA</name>
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        <name>KEYCORP</name>
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        <name>PRUDENTIAL FINANCIAL INC</name>
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        <name>TRANSCANADA TRUST</name>
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        <name>LINCOLN NATIONAL CORP</name>
        <lei>EFQMQROEDSNBRIP7LE47</lei>
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        <name>GENERAL MOTORS FINL CO</name>
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        <name>EXELON CORP</name>
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        <name>CITIGROUP INC</name>
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        <title>Citigroup Inc</title>
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        <name>ATHENE HOLDING LTD</name>
        <lei>549300H316CT32FQXI76</lei>
        <title>Athene Holding Ltd</title>
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        <name>HSBC HOLDINGS PLC</name>
        <lei>MLU0ZO3ML4LN2LL2TL39</lei>
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        <invCountry>GB</invCountry>
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        <name>REGIONS FINANCIAL CORP</name>
        <lei>CW05CS5KW59QTC0DG824</lei>
        <title>Regions Financial Corp</title>
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        <name>DOMINION ENERGY INC</name>
        <lei>ILUL7B6Z54MRYCF6H308</lei>
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        <name>AXIS SPECIALTY FINANCE</name>
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        <title>Synchrony Financial</title>
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        <title>Enstar Finance LLC</title>
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        <name>ENERGY TRANSFER LP</name>
        <lei>MTLVN9N7JE8MIBIJ1H73</lei>
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        <name>CITIGROUP INC</name>
        <lei>6SHGI4ZSSLCXXQSBB395</lei>
        <title>Citigroup Inc</title>
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        <curCd>USD</curCd>
        <valUSD>651450.88000000</valUSD>
        <pctVal>0.404513963965</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>
        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>N/A</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>6.95000000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
        </debtSec>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>GOLDMAN SACHS GROUP INC</name>
        <lei>784F5XWPLTWKTBV3E584</lei>
        <title>Goldman Sachs Group Inc/The</title>
        <cusip>38141GB52</cusip>
        <identifiers>
          <isin value="US38141GB524"/>
          <other otherDesc="SEDOL" value="BP092R2"/>
        </identifiers>
        <balance>640000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>642681.60000000</valUSD>
        <pctVal>0.399068739586</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>
        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>N/A</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>6.12500000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
        </debtSec>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>BANCO MERCANTIL DE NORTE</name>
        <lei>549300QTVYRPFHS0J362</lei>
        <title>Banco Mercantil del Norte SA/Grand Cayman</title>
        <cusip>05962GAJ8</cusip>
        <identifiers>
          <isin value="US05962GAJ85"/>
          <other otherDesc="SEDOL" value="BYVX878"/>
        </identifiers>
        <balance>530000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>539221.47000000</valUSD>
        <pctVal>0.334825880172</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>MX</invCountry>
        <isRestrictedSec>N</isRestrictedSec>
        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>N/A</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>7.62500000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
        </debtSec>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>LIBERTY MUTUAL GROUP INC</name>
        <lei>QUR0DG15Z6FFGYCHH861</lei>
        <title>Liberty Mutual Group Inc</title>
        <cusip>53079EAN4</cusip>
        <identifiers>
          <isin value="US53079EAN40"/>
          <other otherDesc="SEDOL" value="B1VX855"/>
        </identifiers>
        <balance>3736000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>4289928.31000000</valUSD>
        <pctVal>2.663801614339</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>
        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2037-03-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>7.80000000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
        </debtSec>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>FIRST HORIZON BANK</name>
        <lei>COOWI3L2W9TPYR3WJX37</lei>
        <title>First Horizon Bank</title>
        <cusip>337158208</cusip>
        <identifiers>
          <isin value="US3371582087"/>
          <ticker value="FHN"/>
        </identifiers>
        <balance>795.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>612150.00000000</valUSD>
        <pctVal>0.380110351591</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>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>NEW YORK MORTGAGE TRUST</name>
        <lei>549300JFGR0M7ULHWG48</lei>
        <title>New York Mortgage Trust Inc</title>
        <cusip>649604865</cusip>
        <identifiers>
          <isin value="US6496048652"/>
          <ticker value="NYMT"/>
        </identifiers>
        <balance>23000.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>503470.00000000</valUSD>
        <pctVal>0.312626249638</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>NATWEST GROUP PLC</name>
        <lei>2138005O9XJIJN4JPN90</lei>
        <title>NatWest Group PLC</title>
        <cusip>639057AD0</cusip>
        <identifiers>
          <isin value="US639057AD02"/>
          <other otherDesc="SEDOL" value="BLB2PM8"/>
        </identifiers>
        <balance>300000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>269781.21000000</valUSD>
        <pctVal>0.167518795370</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>GB</invCountry>
        <isRestrictedSec>N</isRestrictedSec>
        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>N/A</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>4.60000000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
        </debtSec>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>CARLYLE FINANCE LLC</name>
        <lei>N/A</lei>
        <title>Carlyle Finance LLC</title>
        <cusip>14314C105</cusip>
        <identifiers>
          <isin value="US14314C1053"/>
          <ticker value="CG"/>
        </identifiers>
        <balance>11500.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>210105.00000000</valUSD>
        <pctVal>0.130463261326</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>GOLDMAN SACHS GROUP INC</name>
        <lei>784F5XWPLTWKTBV3E584</lei>
        <title>Goldman Sachs Group Inc/The</title>
        <cusip>38141GA38</cusip>
        <identifiers>
          <isin value="US38141GA385"/>
          <other otherDesc="SEDOL" value="BPK6RS9"/>
        </identifiers>
        <balance>325000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>345433.08000000</valUSD>
        <pctVal>0.214494306118</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>
        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>N/A</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>7.50000000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
        </debtSec>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>HUNTINGTON BANCSHARES</name>
        <lei>549300XTVCVV9I7B5T19</lei>
        <title>Huntington Bancshares Inc/OH</title>
        <cusip>446150773</cusip>
        <identifiers>
          <isin value="US4461507737"/>
          <ticker value="HBAN"/>
        </identifiers>
        <balance>34920.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>884174.40000000</valUSD>
        <pctVal>0.549022040435</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>CITIGROUP INC</name>
        <lei>6SHGI4ZSSLCXXQSBB395</lei>
        <title>Citigroup Inc</title>
        <cusip>172967PC9</cusip>
        <identifiers>
          <isin value="US172967PC98"/>
          <ticker value="C"/>
          <other otherDesc="SEDOL" value="BQT56G5"/>
        </identifiers>
        <balance>1400000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>1458102.80000000</valUSD>
        <pctVal>0.905398951180</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>
        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>N/A</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>7.37500000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
        </debtSec>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>DUKE ENERGY CORP</name>
        <lei>I1BZKREC126H0VB1BL91</lei>
        <title>Duke Energy Corp</title>
        <cusip>26441CCG8</cusip>
        <identifiers>
          <isin value="US26441CCG87"/>
          <other otherDesc="SEDOL" value="BQB3RT7"/>
        </identifiers>
        <balance>965000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>1001546.48000000</valUSD>
        <pctVal>0.621903429957</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>
        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2054-09-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>6.45000000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
        </debtSec>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>BNP PARIBAS</name>
        <lei>R0MUWSFPU8MPRO8K5P83</lei>
        <title>BNP Paribas SA</title>
        <cusip>05565AS20</cusip>
        <identifiers>
          <isin value="US05565AS207"/>
          <other otherDesc="SEDOL" value="BL56GG7"/>
        </identifiers>
        <balance>420000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>451381.14000000</valUSD>
        <pctVal>0.280282028632</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>FR</invCountry>
        <isRestrictedSec>N</isRestrictedSec>
        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>N/A</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>9.25000000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
        </debtSec>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>APOLLO GLOBAL MANAGEMENT</name>
        <lei>254900LMFT1CY9IYB476</lei>
        <title>Apollo Global Management Inc</title>
        <cusip>03769M205</cusip>
        <identifiers>
          <isin value="US03769M2052"/>
          <ticker value="APO"/>
        </identifiers>
        <balance>29200.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>772340.00000000</valUSD>
        <pctVal>0.479579235397</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>CREDIT AGRICOLE SA</name>
        <lei>969500TJ5KRTCJQWXH05</lei>
        <title>Credit Agricole SA</title>
        <cusip>225313AP0</cusip>
        <identifiers>
          <isin value="US225313AP06"/>
          <other otherDesc="SEDOL" value="BNYLJX5"/>
        </identifiers>
        <balance>370000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>352168.96000000</valUSD>
        <pctVal>0.218676904688</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>FR</invCountry>
        <isRestrictedSec>N</isRestrictedSec>
        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>N/A</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>4.75000000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
        </debtSec>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>SOUTH BOW CAN INFRA HOLD</name>
        <lei>2549004FYUSYLPBT1G26</lei>
        <title>South Bow Canadian Infrastructure Holdings Ltd</title>
        <cusip>836720AJ1</cusip>
        <identifiers>
          <isin value="US836720AJ13"/>
        </identifiers>
        <balance>550000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>575199.35000000</valUSD>
        <pctVal>0.357166098446</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>CA</invCountry>
        <isRestrictedSec>N</isRestrictedSec>
        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2055-03-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>7.50000000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
        </debtSec>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>VOYA FINANCIAL INC</name>
        <lei>549300T065Z4KJ686G75</lei>
        <title>Voya Financial Inc</title>
        <cusip>929089209</cusip>
        <identifiers>
          <isin value="US9290892093"/>
          <ticker value="VOYA"/>
        </identifiers>
        <balance>25000.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>590500.00000000</valUSD>
        <pctVal>0.366666932312</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="Security reported as PREFERRED EQUITY on Form N-PORT per market convention; reported as CORPORATE DEBT SECURITY on SOI of Form N-CSR/N-CSRS per specific terms of security. 25432X300:74913G873:74913G881." noteItem="C.4.a"/>
      <explntrNote note="Security reported as DEBT on Form N-PORT per market convention; reported as PREFERRED STOCK &amp; HYBRID PREFERRED SECURITIES on SOI of Form N-CSR/N-CSRS per specific terms of security. 00774MBK0:00774MBQ7:00130HCK9:015857AH8:02005NBM1:02005NBN9:021361AD2:02369GAA3:025537AU5:025537BA8:025816CH0:026874BS5:025676AR8:05463HAC5:060505EU4:060505GB4:06055HAB9:06055HAK9:0778FPAQ2:11102AAG6:14040HCF0:15189TBJ5:172967MU2:172967MV0:172967NB3:172967PC9:172967PE5:172967PK1:172967PM7:172967PR6:17327CAV5:17327CBC6:174610AQ8:125896BY5:19075QAC6:19075QAG7:20035AAA2:20453QAA0:21871XAT6:126650EH9:25746UDM8:25746UDU0:25746UDV8:26441CCG8:281020AS6:281020AT4:290876AD3:29250NAN5:29250NBC8:29250NBT1:29250NCG8:29273VAM2:29273VAX8:29273VBH2:29360AAB6:29359UAD1:29364GAQ6:29379VBN2:29452EAD3:29882DAB9:299808AE5:30034WAE6:30161NBQ3:30767EAF6:302491AZ8:34962TAA9:37045XCA2:37045XCM6:37045XDB9:37959GAC1:37959GAG2:38141GA38:38141GA79:38141GB52:38141GC28:38144GAB7:38148BAE8:446150AT1:446150AV6:48128BAN1:48128BAQ4:50149XAA2:514666AK2:514666AM8:514666AN6:53079EAN4:53079EBM5:534187BR9:55261FAH7:55261FAN4:591560AA5:59156RAV0:59156RBS6:61745VAB9:641423CH9:302570AX4:65339KCW8:65339KDB3:65339KDE7:65473PAR6:65473PAT2:66765NAA3:92556HAE7:69331VAA4:693475BC8:693475BD6:693475BF1:693475BP9:743863AA0:744320BL5:759351AT6:775109DH1:78397DAA6:78397DAC2:816851BK4:816851BM0:816851BS7:816851BT5:836720AJ1:842587DJ3:842587EB9:857477CH4:87971MCM3:89356BAB4:89356BAE8:89832QAE9:89832QAF6:92840MAC6:92857WBQ2:949746TD3:95002YAA1:95002YAC7." noteItem="C.4.a"/>
      <explntrNote note="Security reported as DEBT on Form N-PORT per market convention; reported as CONTINGENT CAPITAL SECURITY on SOI of Form N-CSR/N-CSRS per specific terms of security. 05254HAA2:05946KAF8:05946KAM3:05962GAJ8:05971PAB4:05971PAE8:05973KAB3:05964HBH7:05971KAH2:05971KAQ2:06368L5Q5:06368L8V1:06368LQ58:0641598S8:0641598V1:0641598X7:06738EBN4:06738EBT1:06738EBX2:06738ECN3:06738EDC6:05533UAG3:05565A5R0:05565AM34:05565AS20:05565ASK0:05602XJC3:05602XQQ4:13607P7Y4:13607PNF7:225313AP0:251525AX9:404280BL2:404280BP3:404280EJ4:404280FA2:258524098:456837AY9:539439AU3:53944YAQ6:53944YAV5:639057AD0:639057AQ1:780082AR4:780082AT0:780082AV5:83367TBU2:83370RAA6:83370RAB4:83370RAC2:853254BX7:853254CM0:89116CKP1:89117F8Z5:902613AD0:902613AJ7:902613BE7." noteItem="C.4.a"/>
    </explntrNotes>
    <signature>
      <ncom:dateSigned>2025-10-29</ncom:dateSigned>
      <ncom:nameOfApplicant>Flaherty &amp; Crumrine Preferred &amp; Income Fund Inc</ncom:nameOfApplicant>
      <ncom:signature>Bradford Stone </ncom:signature>
      <ncom:signerName>Bradford Stone </ncom:signerName>
      <ncom:title>Chief Financial Officer, Treasurer and Vice President</ncom:title>
    </signature>
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<DOCUMENT>
<TYPE>NPORT-EX
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<FILENAME>FC23FC08312025.htm
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                <P style="margin-left: 0pt; color: #000000; font-size: 12pt; font-family: Times New Roman, Times, serif; margin-top: 0pt; margin-bottom: 0pt; text-align: right; margin-right: 0pt; "><FONT style="font-size: 8pt; font-family: Arial, sans-serif; ">Flaherty &amp; Crumrine Preferred and Income Fund Incorporated</FONT></P>
                <P style="margin-left: 0pt; color: #000000; font-size: 12pt; font-family: Times New Roman, Times, serif; margin-top: 0pt; margin-bottom: 0pt; text-align: right; margin-right: 0pt; "><FONT style="font-family: Arial, sans-serif; ">PORTFOLIO OF INVESTMENTS</FONT></P>
                <P style="margin-left: 0pt; color: #000000; font-size: 12pt; font-family: Times New Roman, Times, serif; margin-top: 0pt; margin-bottom: 0pt; text-align: right; margin-right: 0pt; "><FONT style="font-size: 10pt; font-family: Arial, sans-serif; ">August 31, 2025&#160;(Unaudited)</FONT></P>
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                            <TD style="border-top: 0pt; padding-top: 1pt; border-right: 0pt; border-left: 0pt; padding-left: 0pt; vertical-align: bottom; padding-bottom: 1pt; border-bottom: 0.5pt solid #000000; padding-right: 0pt; ">
                                <P style="margin-left: 0pt; color: #000000; text-indent: 0pt; font-size: 8pt; font-family: Arial, sans-serif; line-height: normal; margin-top: 0; margin-bottom: 0; text-align: center; margin-right: 0pt; "><FONT style="font-weight: bold; "><B>Shares/$ Par</B></FONT></P>
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                                <P style="margin-left: 0pt; font-size: 1pt; line-height: 1pt; margin-top: 0pt; margin-bottom: 0; margin-right: 0pt; ">&#8203;</P>
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                            <TD style="border-top: 0pt; padding-top: 0pt; border-right: 0pt; border-left: 0pt; padding-left: 0pt; vertical-align: bottom; padding-bottom: 0pt; border-bottom: 0.5pt solid #000000; padding-right: 0pt; ">
                                <P style="margin-left: 0pt; font-size: 1pt; line-height: 1pt; margin-top: 0pt; margin-bottom: 0; margin-right: 0pt; ">&#8203;</P>
                            </TD>
                            <TD style="border-top: 0pt; padding-top: 1pt; border-right: 0pt; border-left: 0pt; padding-left: 0pt; vertical-align: bottom; padding-bottom: 1pt; border-bottom: 0.5pt solid #000000; padding-right: 0pt; ">
                                <P style="margin-left: 0pt; color: #000000; text-indent: 0pt; font-size: 8pt; font-family: Arial, sans-serif; line-height: normal; margin-top: 0; margin-bottom: 0; text-align: center; margin-right: 0pt; "><FONT style="font-weight: bold; "><B>Value</B></FONT></P>
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                                <P style="margin-left: 0pt; font-size: 1pt; line-height: 1pt; margin-top: 0pt; margin-bottom: 0; margin-right: 0pt; ">&#8203;</P>
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                        </TR>
                        <TR style="min-height: 3pt; ">
                            <TD colspan="3" style="background-color: #cceeff; border-top: 0pt; padding-top: 1pt; border-right: 0pt; border-left: 0pt; padding-left: 0pt; vertical-align: top; padding-bottom: 1pt; border-bottom: 0pt; padding-right: 0pt; ">
                                <P style="margin-left: 0pt; color: #000000; text-indent: 0pt; font-size: 9pt; font-family: Arial, sans-serif; line-height: normal; margin-top: 0; margin-bottom: 0; text-align: left; margin-right: 0pt; "><FONT style="font-weight: bold; "><B>Preferred Stock &amp; Hybrid Preferred Securities&#167; &#8212; 75.8%</B></FONT></P>
                            </TD>
                            <TD style="background-color: #cceeff; border-top: 0.5pt solid #000000; padding-top: 0pt; border-right: 0pt; border-left: 0pt; padding-left: 0pt; vertical-align: bottom; padding-bottom: 0pt; border-bottom: 0pt; padding-right: 0pt; ">
                                <P style="margin-left: 0pt; font-size: 1pt; line-height: 1pt; margin-top: 0pt; margin-bottom: 0; margin-right: 0pt; ">&#8203;</P>
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                            <TD style="background-color: #cceeff; border-top: 0pt; padding-top: 0pt; border-right: 0pt; border-left: 0pt; padding-left: 0pt; vertical-align: bottom; padding-bottom: 0pt; border-bottom: 0pt; padding-right: 0pt; ">
                                <P style="margin-left: 0pt; font-size: 1pt; line-height: 1pt; margin-top: 0pt; margin-bottom: 0; margin-right: 0pt; ">&#8203;</P>
                            </TD>
                        </TR>
                        <TR style="min-height: 3pt; ">
                            <TD style="border-top: 0pt; padding-top: 1pt; border-right: 0pt; border-left: 0pt; padding-left: 0pt; vertical-align: top; padding-bottom: 1pt; border-bottom: 0.5pt solid #000000; padding-right: 0pt; ">
                                <P style="margin-left: 0pt; color: #000000; font-size: 9pt; font-family: Arial, sans-serif; line-height: normal; margin-top: 0; margin-bottom: 0; text-align: right; margin-right: 0pt; "><FONT>&#160;</FONT></P>
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                            <TD style="border-top: 0pt; padding-top: 0pt; border-right: 0pt; border-left: 0pt; padding-left: 0pt; vertical-align: bottom; padding-bottom: 0pt; border-bottom: 0.5pt solid #000000; padding-right: 0pt; ">
                                <P style="margin-left: 0pt; font-size: 1pt; line-height: 1pt; margin-top: 0pt; margin-bottom: 0; margin-right: 0pt; ">&#8203;</P>
                            </TD>
                            <TD style="border-top: 0pt; padding-top: 1pt; border-right: 0pt; border-left: 0pt; padding-left: 0pt; vertical-align: bottom; padding-bottom: 1pt; border-bottom: 0.5pt solid #000000; padding-right: 0pt; ">
                                <P style="margin-left: 0pt; color: #000000; text-indent: 0pt; font-size: 9pt; font-family: Arial, sans-serif; line-height: normal; margin-top: 0; margin-bottom: 0; text-align: left; margin-right: 0pt; "><FONT style="font-weight: bold; "><B>Banking &#8212; 33.6%</B></FONT></P>
                            </TD>
                            <TD style="border-top: 0pt; padding-top: 0pt; border-right: 0pt; border-left: 0pt; padding-left: 0pt; vertical-align: bottom; padding-bottom: 0pt; border-bottom: 0.5pt solid #000000; padding-right: 0pt; ">
                                <P style="margin-left: 0pt; font-size: 1pt; line-height: 1pt; margin-top: 0pt; margin-bottom: 0; margin-right: 0pt; ">&#8203;</P>
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                            <TD style="border-top: 0pt; padding-top: 0pt; border-right: 0pt; border-left: 0pt; padding-left: 0pt; vertical-align: bottom; padding-bottom: 0pt; border-bottom: 0pt; padding-right: 0pt; ">
                                <P style="margin-left: 0pt; font-size: 1pt; line-height: 1pt; margin-top: 0pt; margin-bottom: 0; margin-right: 0pt; ">&#8203;</P>
                            </TD>
                        </TR>
                        <TR style="min-height: 3pt; ">
                            <TD style="background-color: #cceeff; border-top: 0.5pt solid #000000; padding-top: 1pt; border-right: 0pt; border-left: 0pt; padding-left: 0pt; vertical-align: top; padding-bottom: 1pt; border-bottom: 0pt; padding-right: 0pt; ">
                                <P style="margin-left: 0pt; color: #000000; font-size: 9pt; font-family: Arial, sans-serif; line-height: normal; margin-top: 0; margin-bottom: 0; text-align: right; margin-right: 0pt; "><FONT style="float: left; "><FONT>$</FONT></FONT><FONT style="float: right; "><FONT>500,000</FONT></FONT><FONT style="font-size: 9pt; ">&#8203;</FONT>                                    <BR clear="all"></P>
                            </TD>
                            <TD style="background-color: #cceeff; border-top: 0.5pt solid #000000; padding-top: 0pt; border-right: 0pt; border-left: 0pt; padding-left: 0pt; vertical-align: bottom; padding-bottom: 0pt; border-bottom: 0pt; padding-right: 0pt; ">
                                <P style="margin-left: 0pt; font-size: 1pt; line-height: 1pt; margin-top: 0pt; margin-bottom: 0; margin-right: 0pt; ">&#8203;</P>
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                            <TD style="background-color: #cceeff; border-top: 0.5pt solid #000000; padding-top: 1pt; border-right: 0pt; border-left: 0pt; padding-left: 0pt; vertical-align: bottom; padding-bottom: 1pt; border-bottom: 0pt; padding-right: 0pt; ">
                                <P style="margin-left: 11.25pt; color: #000000; text-indent: -11.25pt; font-size: 9pt; font-family: Arial, sans-serif; line-height: normal; margin-top: 0; margin-bottom: 0; text-align: left; margin-right: 0pt; "><FONT>American AgCredit Corporation, 5.25% to 06/15/26 then <br>T5Y + 4.50%, Series A, 144A**** </FONT></P>
                            </TD>
                            <TD style="background-color: #cceeff; border-top: 0.5pt solid #000000; padding-top: 1pt; border-right: 0pt; border-left: 0pt; padding-left: 0pt; vertical-align: bottom; padding-bottom: 1pt; border-bottom: 0pt; padding-right: 0pt; ">
                                <P style="margin-left: 0pt; color: #000000; font-size: 9pt; font-family: Arial, sans-serif; line-height: normal; margin-top: 0; margin-bottom: 0; text-align: right; margin-right: 0pt; "><FONT style="float: left; "><A name="pfd-nportex_083125a1108"></A><FONT>&#160;$</FONT></FONT><FONT style="float: right; "><FONT>488,750</FONT></FONT><FONT style="font-size: 9pt; ">&#8203;</FONT>                                    <BR clear="all"></P>
                            </TD>
                            <TD style="background-color: #cceeff; border-top: 0pt; padding-top: 1pt; border-right: 0pt; border-left: 0pt; padding-left: 0pt; vertical-align: bottom; padding-bottom: 1pt; border-bottom: 0pt; padding-right: 0pt; ">
                                <P style="margin-left: 0pt; color: #000000; text-indent: 0pt; font-size: 9pt; font-family: Arial, sans-serif; line-height: normal; margin-top: 0; margin-bottom: 0; text-align: left; margin-right: 0pt; "><FONT>*</FONT><SUP style="font-size: 7.0pt; line-height: 7.0pt; ">(1)</SUP><FONT>&#160;</FONT></P>
                            </TD>
                        </TR>
                        <TR style="min-height: 3pt; ">
                            <TD style="border-top: 0pt; padding-top: 1pt; border-right: 0pt; border-left: 0pt; padding-left: 0pt; vertical-align: top; padding-bottom: 1pt; border-bottom: 0pt; padding-right: 0pt; ">
                                <P style="margin-left: 0pt; color: #000000; font-size: 9pt; font-family: Arial, sans-serif; line-height: normal; margin-top: 0; margin-bottom: 0; text-align: right; margin-right: 0pt; "><FONT>&#160;</FONT></P>
                            </TD>
                            <TD style="border-top: 0pt; padding-top: 0pt; border-right: 0pt; border-left: 0pt; padding-left: 0pt; vertical-align: bottom; padding-bottom: 0pt; border-bottom: 0pt; padding-right: 0pt; ">
                                <P style="margin-left: 0pt; font-size: 1pt; line-height: 1pt; margin-top: 0pt; margin-bottom: 0; margin-right: 0pt; ">&#8203;</P>
                            </TD>
                            <TD style="border-top: 0pt; padding-top: 1pt; border-right: 0pt; border-left: 0pt; padding-left: 0pt; vertical-align: bottom; padding-bottom: 1pt; border-bottom: 0pt; padding-right: 0pt; ">
                                <P style="margin-left: 11.25pt; color: #000000; text-indent: -11.25pt; font-size: 9pt; font-family: Arial, sans-serif; line-height: normal; margin-top: 0; margin-bottom: 0; text-align: left; margin-right: 0pt; "><FONT>Bank of America Corporation:</FONT></P>
                            </TD>
                            <TD style="border-top: 0pt; padding-top: 0pt; border-right: 0pt; border-left: 0pt; padding-left: 0pt; vertical-align: bottom; padding-bottom: 0pt; border-bottom: 0pt; padding-right: 0pt; ">
                                <P style="margin-left: 0pt; font-size: 1pt; line-height: 1pt; margin-top: 0pt; margin-bottom: 0; margin-right: 0pt; ">&#8203;</P>
                            </TD>
                            <TD style="border-top: 0pt; padding-top: 0pt; border-right: 0pt; border-left: 0pt; padding-left: 0pt; vertical-align: bottom; padding-bottom: 0pt; border-bottom: 0pt; padding-right: 0pt; ">
                                <P style="margin-left: 0pt; font-size: 1pt; line-height: 1pt; margin-top: 0pt; margin-bottom: 0; margin-right: 0pt; ">&#8203;</P>
                            </TD>
                        </TR>
                        <TR style="min-height: 3pt; ">
                            <TD style="background-color: #cceeff; border-top: 0pt; padding-top: 1pt; border-right: 0pt; border-left: 0pt; padding-left: 0pt; vertical-align: top; padding-bottom: 1pt; border-bottom: 0pt; padding-right: 0pt; ">
                                <P style="margin-left: 0pt; color: #000000; font-size: 9pt; font-family: Arial, sans-serif; line-height: normal; margin-top: 0; margin-bottom: 0; text-align: right; margin-right: 0pt; "><FONT style="float: left; "><FONT>$</FONT></FONT><FONT style="float: right; "><FONT>3,400,000</FONT></FONT><FONT style="font-size: 9pt; ">&#8203;</FONT>                                    <BR clear="all"></P>
                            </TD>
                            <TD style="background-color: #cceeff; border-top: 0pt; padding-top: 0pt; border-right: 0pt; border-left: 0pt; padding-left: 0pt; vertical-align: bottom; padding-bottom: 0pt; border-bottom: 0pt; padding-right: 0pt; ">
                                <P style="margin-left: 0pt; font-size: 1pt; line-height: 1pt; margin-top: 0pt; margin-bottom: 0; margin-right: 0pt; ">&#8203;</P>
                            </TD>
                            <TD style="background-color: #cceeff; border-top: 0pt; padding-top: 1pt; border-right: 0pt; border-left: 0pt; padding-left: 0pt; vertical-align: bottom; padding-bottom: 1pt; border-bottom: 0pt; padding-right: 0pt; ">
                                <P style="margin-left: 22.5pt; color: #000000; text-indent: -11.25pt; font-size: 9pt; font-family: Arial, sans-serif; line-height: normal; margin-top: 0; margin-bottom: 0; text-align: left; margin-right: 0pt; "><FONT>4.375% to 01/27/27 then T5Y + 2.76%, Series RR </FONT></P>
                            </TD>
                            <TD style="background-color: #cceeff; border-top: 0pt; padding-top: 1pt; border-right: 0pt; border-left: 0pt; padding-left: 0pt; vertical-align: bottom; padding-bottom: 1pt; border-bottom: 0pt; padding-right: 0pt; ">
                                <P style="margin-left: 0pt; color: #000000; font-size: 9pt; font-family: Arial, sans-serif; line-height: normal; margin-top: 0; margin-bottom: 0; text-align: right; margin-right: 0pt; "><A name="pfd-nportex_083125a1109"></A><FONT>&#160;3,329,676</FONT></P>
                            </TD>
                            <TD style="background-color: #cceeff; border-top: 0pt; padding-top: 1pt; border-right: 0pt; border-left: 0pt; padding-left: 0pt; vertical-align: bottom; padding-bottom: 1pt; border-bottom: 0pt; padding-right: 0pt; ">
                                <P style="margin-left: 0pt; color: #000000; text-indent: 0pt; font-size: 9pt; font-family: Arial, sans-serif; line-height: normal; margin-top: 0; margin-bottom: 0; text-align: left; margin-right: 0pt; "><FONT>*</FONT><SUP style="font-size: 7.0pt; line-height: 7.0pt; ">(1)(2)(3)</SUP><FONT>&#160;</FONT></P>
                            </TD>
                        </TR>
                        <TR style="min-height: 3pt; ">
                            <TD style="border-top: 0pt; padding-top: 1pt; border-right: 0pt; border-left: 0pt; padding-left: 0pt; vertical-align: top; padding-bottom: 1pt; border-bottom: 0pt; padding-right: 0pt; ">
                                <P style="margin-left: 0pt; color: #000000; font-size: 9pt; font-family: Arial, sans-serif; line-height: normal; margin-top: 0; margin-bottom: 0; text-align: right; margin-right: 0pt; "><FONT style="float: left; "><FONT>$</FONT></FONT><FONT style="float: right; "><FONT>720,000</FONT></FONT><FONT style="font-size: 9pt; ">&#8203;</FONT>                                    <BR clear="all"></P>
                            </TD>
                            <TD style="border-top: 0pt; padding-top: 0pt; border-right: 0pt; border-left: 0pt; padding-left: 0pt; vertical-align: bottom; padding-bottom: 0pt; border-bottom: 0pt; padding-right: 0pt; ">
                                <P style="margin-left: 0pt; font-size: 1pt; line-height: 1pt; margin-top: 0pt; margin-bottom: 0; margin-right: 0pt; ">&#8203;</P>
                            </TD>
                            <TD style="border-top: 0pt; padding-top: 1pt; border-right: 0pt; border-left: 0pt; padding-left: 0pt; vertical-align: bottom; padding-bottom: 1pt; border-bottom: 0pt; padding-right: 0pt; ">
                                <P style="margin-left: 22.5pt; color: #000000; text-indent: -11.25pt; font-size: 9pt; font-family: Arial, sans-serif; line-height: normal; margin-top: 0; margin-bottom: 0; text-align: left; margin-right: 0pt; "><FONT>6.25% to 07/26/30 then T5Y + 2.351%, Series UU </FONT></P>
                            </TD>
                            <TD style="border-top: 0pt; padding-top: 1pt; border-right: 0pt; border-left: 0pt; padding-left: 0pt; vertical-align: bottom; padding-bottom: 1pt; border-bottom: 0pt; padding-right: 0pt; ">
                                <P style="margin-left: 0pt; color: #000000; font-size: 9pt; font-family: Arial, sans-serif; line-height: normal; margin-top: 0; margin-bottom: 0; text-align: right; margin-right: 0pt; "><A name="pfd-nportex_083125a1110"></A><FONT>&#160;722,443</FONT></P>
                            </TD>
                            <TD style="border-top: 0pt; padding-top: 1pt; border-right: 0pt; border-left: 0pt; padding-left: 0pt; vertical-align: bottom; padding-bottom: 1pt; border-bottom: 0pt; padding-right: 0pt; ">
                                <P style="margin-left: 0pt; color: #000000; text-indent: 0pt; font-size: 9pt; font-family: Arial, sans-serif; line-height: normal; margin-top: 0; margin-bottom: 0; text-align: left; margin-right: 0pt; "><FONT>*</FONT><SUP style="font-size: 7.0pt; line-height: 7.0pt; ">(1)</SUP><FONT>&#160;</FONT></P>
                            </TD>
                        </TR>
                        <TR style="min-height: 3pt; ">
                            <TD style="background-color: #cceeff; border-top: 0pt; padding-top: 1pt; border-right: 0pt; border-left: 0pt; padding-left: 0pt; vertical-align: top; padding-bottom: 1pt; border-bottom: 0pt; padding-right: 0pt; ">
                                <P style="margin-left: 0pt; color: #000000; font-size: 9pt; font-family: Arial, sans-serif; line-height: normal; margin-top: 0; margin-bottom: 0; text-align: right; margin-right: 0pt; "><FONT style="float: left; "><FONT>$</FONT></FONT><FONT style="float: right; "><FONT>400,000</FONT></FONT><FONT style="font-size: 9pt; ">&#8203;</FONT>                                    <BR clear="all"></P>
                            </TD>
                            <TD style="background-color: #cceeff; border-top: 0pt; padding-top: 0pt; border-right: 0pt; border-left: 0pt; padding-left: 0pt; vertical-align: bottom; padding-bottom: 0pt; border-bottom: 0pt; padding-right: 0pt; ">
                                <P style="margin-left: 0pt; font-size: 1pt; line-height: 1pt; margin-top: 0pt; margin-bottom: 0; margin-right: 0pt; ">&#8203;</P>
                            </TD>
                            <TD style="background-color: #cceeff; border-top: 0pt; padding-top: 1pt; border-right: 0pt; border-left: 0pt; padding-left: 0pt; vertical-align: bottom; padding-bottom: 1pt; border-bottom: 0pt; padding-right: 0pt; ">
                                <P style="margin-left: 22.5pt; color: #000000; text-indent: -11.25pt; font-size: 9pt; font-family: Arial, sans-serif; line-height: normal; margin-top: 0; margin-bottom: 0; text-align: left; margin-right: 0pt; "><FONT>6.30% to 03/10/26 then TSFR3M + 4.81461%, Series DD </FONT></P>
                            </TD>
                            <TD style="background-color: #cceeff; border-top: 0pt; padding-top: 1pt; border-right: 0pt; border-left: 0pt; padding-left: 0pt; vertical-align: bottom; padding-bottom: 1pt; border-bottom: 0pt; padding-right: 0pt; ">
                                <P style="margin-left: 0pt; color: #000000; font-size: 9pt; font-family: Arial, sans-serif; line-height: normal; margin-top: 0; margin-bottom: 0; text-align: right; margin-right: 0pt; "><A name="pfd-nportex_083125a1111"></A><FONT>&#160;402,581</FONT></P>
                            </TD>
                            <TD style="background-color: #cceeff; border-top: 0pt; padding-top: 1pt; border-right: 0pt; border-left: 0pt; padding-left: 0pt; vertical-align: bottom; padding-bottom: 1pt; border-bottom: 0pt; padding-right: 0pt; ">
                                <P style="margin-left: 0pt; color: #000000; text-indent: 0pt; font-size: 9pt; font-family: Arial, sans-serif; line-height: normal; margin-top: 0; margin-bottom: 0; text-align: left; margin-right: 0pt; "><FONT>*</FONT><SUP style="font-size: 7.0pt; line-height: 7.0pt; ">(1)(2)</SUP><FONT>&#160;</FONT></P>
                            </TD>
                        </TR>
                        <TR style="min-height: 3pt; ">
                            <TD style="border-top: 0pt; padding-top: 1pt; border-right: 0pt; border-left: 0pt; padding-left: 0pt; vertical-align: top; padding-bottom: 1pt; border-bottom: 0pt; padding-right: 0pt; ">
                                <P style="margin-left: 0pt; color: #000000; font-size: 9pt; font-family: Arial, sans-serif; line-height: normal; margin-top: 0; margin-bottom: 0; text-align: right; margin-right: 0pt; "><FONT>2,062</FONT></P>
                            </TD>
                            <TD style="border-top: 0pt; padding-top: 0pt; border-right: 0pt; border-left: 0pt; padding-left: 0pt; vertical-align: bottom; padding-bottom: 0pt; border-bottom: 0pt; padding-right: 0pt; ">
                                <P style="margin-left: 0pt; font-size: 1pt; line-height: 1pt; margin-top: 0pt; margin-bottom: 0; margin-right: 0pt; ">&#8203;</P>
                            </TD>
                            <TD style="border-top: 0pt; padding-top: 1pt; border-right: 0pt; border-left: 0pt; padding-left: 0pt; vertical-align: bottom; padding-bottom: 1pt; border-bottom: 0pt; padding-right: 0pt; ">
                                <P style="margin-left: 11.25pt; color: #000000; text-indent: -11.25pt; font-size: 9pt; font-family: Arial, sans-serif; line-height: normal; margin-top: 0; margin-bottom: 0; text-align: left; margin-right: 0pt; "><FONT>Bank of New York Mellon Corporation, 6.15% to 03/20/30 then <br>T5Y + 2.161%, Series K </FONT></P>
                            </TD>
                            <TD style="border-top: 0pt; padding-top: 1pt; border-right: 0pt; border-left: 0pt; padding-left: 0pt; vertical-align: bottom; padding-bottom: 1pt; border-bottom: 0pt; padding-right: 0pt; ">
                                <P style="margin-left: 0pt; color: #000000; font-size: 9pt; font-family: Arial, sans-serif; line-height: normal; margin-top: 0; margin-bottom: 0; text-align: right; margin-right: 0pt; "><A name="pfd-nportex_083125a1112"></A><FONT>&#160;53,365</FONT></P>
                            </TD>
                            <TD style="border-top: 0pt; padding-top: 1pt; border-right: 0pt; border-left: 0pt; padding-left: 0pt; vertical-align: bottom; padding-bottom: 1pt; border-bottom: 0pt; padding-right: 0pt; ">
                                <P style="margin-left: 0pt; color: #000000; text-indent: 0pt; font-size: 9pt; font-family: Arial, sans-serif; line-height: normal; margin-top: 0; margin-bottom: 0; text-align: left; margin-right: 0pt; "><FONT>*</FONT><SUP style="font-size: 7.0pt; line-height: 7.0pt; ">(1)</SUP><FONT>&#160;</FONT></P>
                            </TD>
                        </TR>
                        <TR style="min-height: 3pt; ">
                            <TD style="background-color: #cceeff; border-top: 0pt; padding-top: 1pt; border-right: 0pt; border-left: 0pt; padding-left: 0pt; vertical-align: top; padding-bottom: 1pt; border-bottom: 0pt; padding-right: 0pt; ">
                                <P style="margin-left: 0pt; color: #000000; font-size: 9pt; font-family: Arial, sans-serif; line-height: normal; margin-top: 0; margin-bottom: 0; text-align: right; margin-right: 0pt; "><FONT>23,100</FONT></P>
                            </TD>
                            <TD style="background-color: #cceeff; border-top: 0pt; padding-top: 0pt; border-right: 0pt; border-left: 0pt; padding-left: 0pt; vertical-align: bottom; padding-bottom: 0pt; border-bottom: 0pt; padding-right: 0pt; ">
                                <P style="margin-left: 0pt; font-size: 1pt; line-height: 1pt; margin-top: 0pt; margin-bottom: 0; margin-right: 0pt; ">&#8203;</P>
                            </TD>
                            <TD style="background-color: #cceeff; border-top: 0pt; padding-top: 1pt; border-right: 0pt; border-left: 0pt; padding-left: 0pt; vertical-align: bottom; padding-bottom: 1pt; border-bottom: 0pt; padding-right: 0pt; ">
                                <P style="margin-left: 11.25pt; color: #000000; text-indent: -11.25pt; font-size: 9pt; font-family: Arial, sans-serif; line-height: normal; margin-top: 0; margin-bottom: 0; text-align: left; margin-right: 0pt; "><FONT>Cadence Bank, 5.50%, Series A </FONT></P>
                            </TD>
                            <TD style="background-color: #cceeff; border-top: 0pt; padding-top: 1pt; border-right: 0pt; border-left: 0pt; padding-left: 0pt; vertical-align: bottom; padding-bottom: 1pt; border-bottom: 0pt; padding-right: 0pt; ">
                                <P style="margin-left: 0pt; color: #000000; font-size: 9pt; font-family: Arial, sans-serif; line-height: normal; margin-top: 0; margin-bottom: 0; text-align: right; margin-right: 0pt; "><A name="pfd-nportex_083125a1113"></A><FONT>&#160;488,334</FONT></P>
                            </TD>
                            <TD style="background-color: #cceeff; border-top: 0pt; padding-top: 1pt; border-right: 0pt; border-left: 0pt; padding-left: 0pt; vertical-align: bottom; padding-bottom: 1pt; border-bottom: 0pt; padding-right: 0pt; ">
                                <P style="margin-left: 0pt; color: #000000; text-indent: 0pt; font-size: 9pt; font-family: Arial, sans-serif; line-height: normal; margin-top: 0; margin-bottom: 0; text-align: left; margin-right: 0pt; "><FONT>*</FONT><SUP style="font-size: 7.0pt; line-height: 7.0pt; ">(1)</SUP><FONT>&#160;</FONT></P>
                            </TD>
                        </TR>
                        <TR style="min-height: 3pt; ">
                            <TD style="border-top: 0pt; padding-top: 1pt; border-right: 0pt; border-left: 0pt; padding-left: 0pt; vertical-align: top; padding-bottom: 1pt; border-bottom: 0pt; padding-right: 0pt; ">
                                <P style="margin-left: 0pt; color: #000000; font-size: 9pt; font-family: Arial, sans-serif; line-height: normal; margin-top: 0; margin-bottom: 0; text-align: right; margin-right: 0pt; "><FONT>&#160;</FONT></P>
                            </TD>
                            <TD style="border-top: 0pt; padding-top: 0pt; border-right: 0pt; border-left: 0pt; padding-left: 0pt; vertical-align: bottom; padding-bottom: 0pt; border-bottom: 0pt; padding-right: 0pt; ">
                                <P style="margin-left: 0pt; font-size: 1pt; line-height: 1pt; margin-top: 0pt; margin-bottom: 0; margin-right: 0pt; ">&#8203;</P>
                            </TD>
                            <TD style="border-top: 0pt; padding-top: 1pt; border-right: 0pt; border-left: 0pt; padding-left: 0pt; vertical-align: bottom; padding-bottom: 1pt; border-bottom: 0pt; padding-right: 0pt; ">
                                <P style="margin-left: 11.25pt; color: #000000; text-indent: -11.25pt; font-size: 9pt; font-family: Arial, sans-serif; line-height: normal; margin-top: 0; margin-bottom: 0; text-align: left; margin-right: 0pt; "><FONT>Capital One Financial Corporation:</FONT></P>
                            </TD>
                            <TD style="border-top: 0pt; padding-top: 0pt; border-right: 0pt; border-left: 0pt; padding-left: 0pt; vertical-align: bottom; padding-bottom: 0pt; border-bottom: 0pt; padding-right: 0pt; ">
                                <P style="margin-left: 0pt; font-size: 1pt; line-height: 1pt; margin-top: 0pt; margin-bottom: 0; margin-right: 0pt; ">&#8203;</P>
                            </TD>
                            <TD style="border-top: 0pt; padding-top: 0pt; border-right: 0pt; border-left: 0pt; padding-left: 0pt; vertical-align: bottom; padding-bottom: 0pt; border-bottom: 0pt; padding-right: 0pt; ">
                                <P style="margin-left: 0pt; font-size: 1pt; line-height: 1pt; margin-top: 0pt; margin-bottom: 0; margin-right: 0pt; ">&#8203;</P>
                            </TD>
                        </TR>
                        <TR style="min-height: 3pt; ">
                            <TD style="background-color: #cceeff; border-top: 0pt; padding-top: 1pt; border-right: 0pt; border-left: 0pt; padding-left: 0pt; vertical-align: top; padding-bottom: 1pt; border-bottom: 0pt; padding-right: 0pt; ">
                                <P style="margin-left: 0pt; color: #000000; font-size: 9pt; font-family: Arial, sans-serif; line-height: normal; margin-top: 0; margin-bottom: 0; text-align: right; margin-right: 0pt; "><FONT>13,875</FONT></P>
                            </TD>
                            <TD style="background-color: #cceeff; border-top: 0pt; padding-top: 0pt; border-right: 0pt; border-left: 0pt; padding-left: 0pt; vertical-align: bottom; padding-bottom: 0pt; border-bottom: 0pt; padding-right: 0pt; ">
                                <P style="margin-left: 0pt; font-size: 1pt; line-height: 1pt; margin-top: 0pt; margin-bottom: 0; margin-right: 0pt; ">&#8203;</P>
                            </TD>
                            <TD style="background-color: #cceeff; border-top: 0pt; padding-top: 1pt; border-right: 0pt; border-left: 0pt; padding-left: 0pt; vertical-align: bottom; padding-bottom: 1pt; border-bottom: 0pt; padding-right: 0pt; ">
                                <P style="margin-left: 22.5pt; color: #000000; text-indent: -11.25pt; font-size: 9pt; font-family: Arial, sans-serif; line-height: normal; margin-top: 0; margin-bottom: 0; text-align: left; margin-right: 0pt; "><FONT>5.00%, Series I </FONT></P>
                            </TD>
                            <TD style="background-color: #cceeff; border-top: 0pt; padding-top: 1pt; border-right: 0pt; border-left: 0pt; padding-left: 0pt; vertical-align: bottom; padding-bottom: 1pt; border-bottom: 0pt; padding-right: 0pt; ">
                                <P style="margin-left: 0pt; color: #000000; font-size: 9pt; font-family: Arial, sans-serif; line-height: normal; margin-top: 0; margin-bottom: 0; text-align: right; margin-right: 0pt; "><A name="pfd-nportex_083125a1114"></A><FONT>&#160;273,615</FONT></P>
                            </TD>
                            <TD style="background-color: #cceeff; border-top: 0pt; padding-top: 1pt; border-right: 0pt; border-left: 0pt; padding-left: 0pt; vertical-align: bottom; padding-bottom: 1pt; border-bottom: 0pt; padding-right: 0pt; ">
                                <P style="margin-left: 0pt; color: #000000; text-indent: 0pt; font-size: 9pt; font-family: Arial, sans-serif; line-height: normal; margin-top: 0; margin-bottom: 0; text-align: left; margin-right: 0pt; "><FONT>*</FONT><SUP style="font-size: 7.0pt; line-height: 7.0pt; ">(1)</SUP><FONT>&#160;</FONT></P>
                            </TD>
                        </TR>
                        <TR style="min-height: 3pt; ">
                            <TD style="border-top: 0pt; padding-top: 1pt; border-right: 0pt; border-left: 0pt; padding-left: 0pt; vertical-align: top; padding-bottom: 1pt; border-bottom: 0pt; padding-right: 0pt; ">
                                <P style="margin-left: 0pt; color: #000000; font-size: 9pt; font-family: Arial, sans-serif; line-height: normal; margin-top: 0; margin-bottom: 0; text-align: right; margin-right: 0pt; "><FONT style="float: left; "><FONT>$</FONT></FONT><FONT style="float: right; "><FONT>880,000</FONT></FONT><FONT style="font-size: 9pt; ">&#8203;</FONT>                                    <BR clear="all"></P>
                            </TD>
                            <TD style="border-top: 0pt; padding-top: 0pt; border-right: 0pt; border-left: 0pt; padding-left: 0pt; vertical-align: bottom; padding-bottom: 0pt; border-bottom: 0pt; padding-right: 0pt; ">
                                <P style="margin-left: 0pt; font-size: 1pt; line-height: 1pt; margin-top: 0pt; margin-bottom: 0; margin-right: 0pt; ">&#8203;</P>
                            </TD>
                            <TD style="border-top: 0pt; padding-top: 1pt; border-right: 0pt; border-left: 0pt; padding-left: 0pt; vertical-align: bottom; padding-bottom: 1pt; border-bottom: 0pt; padding-right: 0pt; ">
                                <P style="margin-left: 22.5pt; color: #000000; text-indent: -11.25pt; font-size: 9pt; font-family: Arial, sans-serif; line-height: normal; margin-top: 0; margin-bottom: 0; text-align: left; margin-right: 0pt; "><FONT>3.95% to 09/01/26 then T5Y + 3.157%, Series M </FONT></P>
                            </TD>
                            <TD style="border-top: 0pt; padding-top: 1pt; border-right: 0pt; border-left: 0pt; padding-left: 0pt; vertical-align: bottom; padding-bottom: 1pt; border-bottom: 0pt; padding-right: 0pt; ">
                                <P style="margin-left: 0pt; color: #000000; font-size: 9pt; font-family: Arial, sans-serif; line-height: normal; margin-top: 0; margin-bottom: 0; text-align: right; margin-right: 0pt; "><A name="pfd-nportex_083125a1115"></A><FONT>&#160;863,427</FONT></P>
                            </TD>
                            <TD style="border-top: 0pt; padding-top: 1pt; border-right: 0pt; border-left: 0pt; padding-left: 0pt; vertical-align: bottom; padding-bottom: 1pt; border-bottom: 0pt; padding-right: 0pt; ">
                                <P style="margin-left: 0pt; color: #000000; text-indent: 0pt; font-size: 9pt; font-family: Arial, sans-serif; line-height: normal; margin-top: 0; margin-bottom: 0; text-align: left; margin-right: 0pt; "><FONT>*</FONT><SUP style="font-size: 7.0pt; line-height: 7.0pt; ">(1)(2)(3)</SUP><FONT>&#160;</FONT></P>
                            </TD>
                        </TR>
                        <TR style="min-height: 3pt; ">
                            <TD style="background-color: #cceeff; border-top: 0pt; padding-top: 1pt; border-right: 0pt; border-left: 0pt; padding-left: 0pt; vertical-align: top; padding-bottom: 1pt; border-bottom: 0pt; padding-right: 0pt; ">
                                <P style="margin-left: 0pt; color: #000000; font-size: 9pt; font-family: Arial, sans-serif; line-height: normal; margin-top: 0; margin-bottom: 0; text-align: right; margin-right: 0pt; "><FONT>&#160;</FONT></P>
                            </TD>
                            <TD style="background-color: #cceeff; border-top: 0pt; padding-top: 0pt; border-right: 0pt; border-left: 0pt; padding-left: 0pt; vertical-align: bottom; padding-bottom: 0pt; border-bottom: 0pt; padding-right: 0pt; ">
                                <P style="margin-left: 0pt; font-size: 1pt; line-height: 1pt; margin-top: 0pt; margin-bottom: 0; margin-right: 0pt; ">&#8203;</P>
                            </TD>
                            <TD style="background-color: #cceeff; border-top: 0pt; padding-top: 1pt; border-right: 0pt; border-left: 0pt; padding-left: 0pt; vertical-align: bottom; padding-bottom: 1pt; border-bottom: 0pt; padding-right: 0pt; ">
                                <P style="margin-left: 11.25pt; color: #000000; text-indent: -11.25pt; font-size: 9pt; font-family: Arial, sans-serif; line-height: normal; margin-top: 0; margin-bottom: 0; text-align: left; margin-right: 0pt; "><FONT>Citigroup, Inc.:</FONT></P>
                            </TD>
                            <TD style="background-color: #cceeff; border-top: 0pt; padding-top: 0pt; border-right: 0pt; border-left: 0pt; padding-left: 0pt; vertical-align: bottom; padding-bottom: 0pt; border-bottom: 0pt; padding-right: 0pt; ">
                                <P style="margin-left: 0pt; font-size: 1pt; line-height: 1pt; margin-top: 0pt; margin-bottom: 0; margin-right: 0pt; ">&#8203;</P>
                            </TD>
                            <TD style="background-color: #cceeff; border-top: 0pt; padding-top: 0pt; border-right: 0pt; border-left: 0pt; padding-left: 0pt; vertical-align: bottom; padding-bottom: 0pt; border-bottom: 0pt; padding-right: 0pt; ">
                                <P style="margin-left: 0pt; font-size: 1pt; line-height: 1pt; margin-top: 0pt; margin-bottom: 0; margin-right: 0pt; ">&#8203;</P>
                            </TD>
                        </TR>
                        <TR style="min-height: 3pt; ">
                            <TD style="border-top: 0pt; padding-top: 1pt; border-right: 0pt; border-left: 0pt; padding-left: 0pt; vertical-align: top; padding-bottom: 1pt; border-bottom: 0pt; padding-right: 0pt; ">
                                <P style="margin-left: 0pt; color: #000000; font-size: 9pt; font-family: Arial, sans-serif; line-height: normal; margin-top: 0; margin-bottom: 0; text-align: right; margin-right: 0pt; "><FONT style="float: left; "><FONT>$</FONT></FONT><FONT style="float: right; "><FONT>450,000</FONT></FONT><FONT style="font-size: 9pt; ">&#8203;</FONT>                                    <BR clear="all"></P>
                            </TD>
                            <TD style="border-top: 0pt; padding-top: 0pt; border-right: 0pt; border-left: 0pt; padding-left: 0pt; vertical-align: bottom; padding-bottom: 0pt; border-bottom: 0pt; padding-right: 0pt; ">
                                <P style="margin-left: 0pt; font-size: 1pt; line-height: 1pt; margin-top: 0pt; margin-bottom: 0; margin-right: 0pt; ">&#8203;</P>
                            </TD>
                            <TD style="border-top: 0pt; padding-top: 1pt; border-right: 0pt; border-left: 0pt; padding-left: 0pt; vertical-align: bottom; padding-bottom: 1pt; border-bottom: 0pt; padding-right: 0pt; ">
                                <P style="margin-left: 22.5pt; color: #000000; text-indent: -11.25pt; font-size: 9pt; font-family: Arial, sans-serif; line-height: normal; margin-top: 0; margin-bottom: 0; text-align: left; margin-right: 0pt; "><FONT>3.875% to 02/18/26 then T5Y + 3.417%, Series X </FONT></P>
                            </TD>
                            <TD style="border-top: 0pt; padding-top: 1pt; border-right: 0pt; border-left: 0pt; padding-left: 0pt; vertical-align: bottom; padding-bottom: 1pt; border-bottom: 0pt; padding-right: 0pt; ">
                                <P style="margin-left: 0pt; color: #000000; font-size: 9pt; font-family: Arial, sans-serif; line-height: normal; margin-top: 0; margin-bottom: 0; text-align: right; margin-right: 0pt; "><A name="pfd-nportex_083125a1116"></A><FONT>&#160;445,312</FONT></P>
                            </TD>
                            <TD style="border-top: 0pt; padding-top: 1pt; border-right: 0pt; border-left: 0pt; padding-left: 0pt; vertical-align: bottom; padding-bottom: 1pt; border-bottom: 0pt; padding-right: 0pt; ">
                                <P style="margin-left: 0pt; color: #000000; text-indent: 0pt; font-size: 9pt; font-family: Arial, sans-serif; line-height: normal; margin-top: 0; margin-bottom: 0; text-align: left; margin-right: 0pt; "><FONT>*</FONT><SUP style="font-size: 7.0pt; line-height: 7.0pt; ">(1)(2)</SUP><FONT>&#160;</FONT></P>
                            </TD>
                        </TR>
                        <TR style="min-height: 3pt; ">
                            <TD style="background-color: #cceeff; border-top: 0pt; padding-top: 1pt; border-right: 0pt; border-left: 0pt; padding-left: 0pt; vertical-align: top; padding-bottom: 1pt; border-bottom: 0pt; padding-right: 0pt; ">
                                <P style="margin-left: 0pt; color: #000000; font-size: 9pt; font-family: Arial, sans-serif; line-height: normal; margin-top: 0; margin-bottom: 0; text-align: right; margin-right: 0pt; "><FONT style="float: left; "><FONT>$</FONT></FONT><FONT style="float: right; "><FONT>200,000</FONT></FONT><FONT style="font-size: 9pt; ">&#8203;</FONT>                                    <BR clear="all"></P>
                            </TD>
                            <TD style="background-color: #cceeff; border-top: 0pt; padding-top: 0pt; border-right: 0pt; border-left: 0pt; padding-left: 0pt; vertical-align: bottom; padding-bottom: 0pt; border-bottom: 0pt; padding-right: 0pt; ">
                                <P style="margin-left: 0pt; font-size: 1pt; line-height: 1pt; margin-top: 0pt; margin-bottom: 0; margin-right: 0pt; ">&#8203;</P>
                            </TD>
                            <TD style="background-color: #cceeff; border-top: 0pt; padding-top: 1pt; border-right: 0pt; border-left: 0pt; padding-left: 0pt; vertical-align: bottom; padding-bottom: 1pt; border-bottom: 0pt; padding-right: 0pt; ">
                                <P style="margin-left: 22.5pt; color: #000000; text-indent: -11.25pt; font-size: 9pt; font-family: Arial, sans-serif; line-height: normal; margin-top: 0; margin-bottom: 0; text-align: left; margin-right: 0pt; "><FONT>4.00% to 12/10/25 then T5Y + 3.597%, Series W </FONT></P>
                            </TD>
                            <TD style="background-color: #cceeff; border-top: 0pt; padding-top: 1pt; border-right: 0pt; border-left: 0pt; padding-left: 0pt; vertical-align: bottom; padding-bottom: 1pt; border-bottom: 0pt; padding-right: 0pt; ">
                                <P style="margin-left: 0pt; color: #000000; font-size: 9pt; font-family: Arial, sans-serif; line-height: normal; margin-top: 0; margin-bottom: 0; text-align: right; margin-right: 0pt; "><A name="pfd-nportex_083125a1117"></A><FONT>&#160;198,624</FONT></P>
                            </TD>
                            <TD style="background-color: #cceeff; border-top: 0pt; padding-top: 1pt; border-right: 0pt; border-left: 0pt; padding-left: 0pt; vertical-align: bottom; padding-bottom: 1pt; border-bottom: 0pt; padding-right: 0pt; ">
                                <P style="margin-left: 0pt; color: #000000; text-indent: 0pt; font-size: 9pt; font-family: Arial, sans-serif; line-height: normal; margin-top: 0; margin-bottom: 0; text-align: left; margin-right: 0pt; "><FONT>*</FONT><SUP style="font-size: 7.0pt; line-height: 7.0pt; ">(1)</SUP><FONT>&#160;</FONT></P>
                            </TD>
                        </TR>
                        <TR style="min-height: 3pt; ">
                            <TD style="border-top: 0pt; padding-top: 1pt; border-right: 0pt; border-left: 0pt; padding-left: 0pt; vertical-align: top; padding-bottom: 1pt; border-bottom: 0pt; padding-right: 0pt; ">
                                <P style="margin-left: 0pt; color: #000000; font-size: 9pt; font-family: Arial, sans-serif; line-height: normal; margin-top: 0; margin-bottom: 0; text-align: right; margin-right: 0pt; "><FONT style="float: left; "><FONT>$</FONT></FONT><FONT style="float: right; "><FONT>350,000</FONT></FONT><FONT style="font-size: 9pt; ">&#8203;</FONT>                                    <BR clear="all"></P>
                            </TD>
                            <TD style="border-top: 0pt; padding-top: 0pt; border-right: 0pt; border-left: 0pt; padding-left: 0pt; vertical-align: bottom; padding-bottom: 0pt; border-bottom: 0pt; padding-right: 0pt; ">
                                <P style="margin-left: 0pt; font-size: 1pt; line-height: 1pt; margin-top: 0pt; margin-bottom: 0; margin-right: 0pt; ">&#8203;</P>
                            </TD>
                            <TD style="border-top: 0pt; padding-top: 1pt; border-right: 0pt; border-left: 0pt; padding-left: 0pt; vertical-align: bottom; padding-bottom: 1pt; border-bottom: 0pt; padding-right: 0pt; ">
                                <P style="margin-left: 22.5pt; color: #000000; text-indent: -11.25pt; font-size: 9pt; font-family: Arial, sans-serif; line-height: normal; margin-top: 0; margin-bottom: 0; text-align: left; margin-right: 0pt; "><FONT>4.15% to 11/15/26 then T5Y + 3.00%, Series Y </FONT></P>
                            </TD>
                            <TD style="border-top: 0pt; padding-top: 1pt; border-right: 0pt; border-left: 0pt; padding-left: 0pt; vertical-align: bottom; padding-bottom: 1pt; border-bottom: 0pt; padding-right: 0pt; ">
                                <P style="margin-left: 0pt; color: #000000; font-size: 9pt; font-family: Arial, sans-serif; line-height: normal; margin-top: 0; margin-bottom: 0; text-align: right; margin-right: 0pt; "><A name="pfd-nportex_083125a1118"></A><FONT>&#160;342,480</FONT></P>
                            </TD>
                            <TD style="border-top: 0pt; padding-top: 1pt; border-right: 0pt; border-left: 0pt; padding-left: 0pt; vertical-align: bottom; padding-bottom: 1pt; border-bottom: 0pt; padding-right: 0pt; ">
                                <P style="margin-left: 0pt; color: #000000; text-indent: 0pt; font-size: 9pt; font-family: Arial, sans-serif; line-height: normal; margin-top: 0; margin-bottom: 0; text-align: left; margin-right: 0pt; "><FONT>*</FONT><SUP style="font-size: 7.0pt; line-height: 7.0pt; ">(1)</SUP><FONT>&#160;</FONT></P>
                            </TD>
                        </TR>
                        <TR style="min-height: 3pt; ">
                            <TD style="background-color: #cceeff; border-top: 0pt; padding-top: 1pt; border-right: 0pt; border-left: 0pt; padding-left: 0pt; vertical-align: top; padding-bottom: 1pt; border-bottom: 0pt; padding-right: 0pt; ">
                                <P style="margin-left: 0pt; color: #000000; font-size: 9pt; font-family: Arial, sans-serif; line-height: normal; margin-top: 0; margin-bottom: 0; text-align: right; margin-right: 0pt; "><FONT style="float: left; "><FONT>$</FONT></FONT><FONT style="float: right; "><FONT>635,000</FONT></FONT><FONT style="font-size: 9pt; ">&#8203;</FONT>                                    <BR clear="all"></P>
                            </TD>
                            <TD style="background-color: #cceeff; border-top: 0pt; padding-top: 0pt; border-right: 0pt; border-left: 0pt; padding-left: 0pt; vertical-align: bottom; padding-bottom: 0pt; border-bottom: 0pt; padding-right: 0pt; ">
                                <P style="margin-left: 0pt; font-size: 1pt; line-height: 1pt; margin-top: 0pt; margin-bottom: 0; margin-right: 0pt; ">&#8203;</P>
                            </TD>
                            <TD style="background-color: #cceeff; border-top: 0pt; padding-top: 1pt; border-right: 0pt; border-left: 0pt; padding-left: 0pt; vertical-align: bottom; padding-bottom: 1pt; border-bottom: 0pt; padding-right: 0pt; ">
                                <P style="margin-left: 22.5pt; color: #000000; text-indent: -11.25pt; font-size: 9pt; font-family: Arial, sans-serif; line-height: normal; margin-top: 0; margin-bottom: 0; text-align: left; margin-right: 0pt; "><FONT>6.75% to 02/15/30 then T5Y + 2.572%, Series EE </FONT></P>
                            </TD>
                            <TD style="background-color: #cceeff; border-top: 0pt; padding-top: 1pt; border-right: 0pt; border-left: 0pt; padding-left: 0pt; vertical-align: bottom; padding-bottom: 1pt; border-bottom: 0pt; padding-right: 0pt; ">
                                <P style="margin-left: 0pt; color: #000000; font-size: 9pt; font-family: Arial, sans-serif; line-height: normal; margin-top: 0; margin-bottom: 0; text-align: right; margin-right: 0pt; "><A name="pfd-nportex_083125a1119"></A><FONT>&#160;641,734</FONT></P>
                            </TD>
                            <TD style="background-color: #cceeff; border-top: 0pt; padding-top: 1pt; border-right: 0pt; border-left: 0pt; padding-left: 0pt; vertical-align: bottom; padding-bottom: 1pt; border-bottom: 0pt; padding-right: 0pt; ">
                                <P style="margin-left: 0pt; color: #000000; text-indent: 0pt; font-size: 9pt; font-family: Arial, sans-serif; line-height: normal; margin-top: 0; margin-bottom: 0; text-align: left; margin-right: 0pt; "><FONT>*</FONT><SUP style="font-size: 7.0pt; line-height: 7.0pt; ">(1)</SUP><FONT>&#160;</FONT></P>
                            </TD>
                        </TR>
                        <TR style="min-height: 3pt; ">
                            <TD style="border-top: 0pt; padding-top: 1pt; border-right: 0pt; border-left: 0pt; padding-left: 0pt; vertical-align: top; padding-bottom: 1pt; border-bottom: 0pt; padding-right: 0pt; ">
                                <P style="margin-left: 0pt; color: #000000; font-size: 9pt; font-family: Arial, sans-serif; line-height: normal; margin-top: 0; margin-bottom: 0; text-align: right; margin-right: 0pt; "><FONT style="float: left; "><FONT>$</FONT></FONT><FONT style="float: right; "><FONT>640,000</FONT></FONT><FONT style="font-size: 9pt; ">&#8203;</FONT>                                    <BR clear="all"></P>
                            </TD>
                            <TD style="border-top: 0pt; padding-top: 0pt; border-right: 0pt; border-left: 0pt; padding-left: 0pt; vertical-align: bottom; padding-bottom: 0pt; border-bottom: 0pt; padding-right: 0pt; ">
                                <P style="margin-left: 0pt; font-size: 1pt; line-height: 1pt; margin-top: 0pt; margin-bottom: 0; margin-right: 0pt; ">&#8203;</P>
                            </TD>
                            <TD style="border-top: 0pt; padding-top: 1pt; border-right: 0pt; border-left: 0pt; padding-left: 0pt; vertical-align: bottom; padding-bottom: 1pt; border-bottom: 0pt; padding-right: 0pt; ">
                                <P style="margin-left: 22.5pt; color: #000000; text-indent: -11.25pt; font-size: 9pt; font-family: Arial, sans-serif; line-height: normal; margin-top: 0; margin-bottom: 0; text-align: left; margin-right: 0pt; "><FONT>6.875% to 08/15/30 then T5Y + 2.89%, Series GG </FONT></P>
                            </TD>
                            <TD style="border-top: 0pt; padding-top: 1pt; border-right: 0pt; border-left: 0pt; padding-left: 0pt; vertical-align: bottom; padding-bottom: 1pt; border-bottom: 0pt; padding-right: 0pt; ">
                                <P style="margin-left: 0pt; color: #000000; font-size: 9pt; font-family: Arial, sans-serif; line-height: normal; margin-top: 0; margin-bottom: 0; text-align: right; margin-right: 0pt; "><A name="pfd-nportex_083125a1120"></A><FONT>&#160;652,806</FONT></P>
                            </TD>
                            <TD style="border-top: 0pt; padding-top: 1pt; border-right: 0pt; border-left: 0pt; padding-left: 0pt; vertical-align: bottom; padding-bottom: 1pt; border-bottom: 0pt; padding-right: 0pt; ">
                                <P style="margin-left: 0pt; color: #000000; text-indent: 0pt; font-size: 9pt; font-family: Arial, sans-serif; line-height: normal; margin-top: 0; margin-bottom: 0; text-align: left; margin-right: 0pt; "><FONT>*</FONT><SUP style="font-size: 7.0pt; line-height: 7.0pt; ">(1)</SUP><FONT>&#160;</FONT></P>
                            </TD>
                        </TR>
                        <TR style="min-height: 3pt; ">
                            <TD style="background-color: #cceeff; border-top: 0pt; padding-top: 1pt; border-right: 0pt; border-left: 0pt; padding-left: 0pt; vertical-align: top; padding-bottom: 1pt; border-bottom: 0pt; padding-right: 0pt; ">
                                <P style="margin-left: 0pt; color: #000000; font-size: 9pt; font-family: Arial, sans-serif; line-height: normal; margin-top: 0; margin-bottom: 0; text-align: right; margin-right: 0pt; "><FONT style="float: left; "><FONT>$</FONT></FONT><FONT style="float: right; "><FONT>640,000</FONT></FONT><FONT style="font-size: 9pt; ">&#8203;</FONT>                                    <BR clear="all"></P>
                            </TD>
                            <TD style="background-color: #cceeff; border-top: 0pt; padding-top: 0pt; border-right: 0pt; border-left: 0pt; padding-left: 0pt; vertical-align: bottom; padding-bottom: 0pt; border-bottom: 0pt; padding-right: 0pt; ">
                                <P style="margin-left: 0pt; font-size: 1pt; line-height: 1pt; margin-top: 0pt; margin-bottom: 0; margin-right: 0pt; ">&#8203;</P>
                            </TD>
                            <TD style="background-color: #cceeff; border-top: 0pt; padding-top: 1pt; border-right: 0pt; border-left: 0pt; padding-left: 0pt; vertical-align: bottom; padding-bottom: 1pt; border-bottom: 0pt; padding-right: 0pt; ">
                                <P style="margin-left: 22.5pt; color: #000000; text-indent: -11.25pt; font-size: 9pt; font-family: Arial, sans-serif; line-height: normal; margin-top: 0; margin-bottom: 0; text-align: left; margin-right: 0pt; "><FONT>6.95% to 02/15/30 then T5Y + 2.726%, Series FF </FONT></P>
                            </TD>
                            <TD style="background-color: #cceeff; border-top: 0pt; padding-top: 1pt; border-right: 0pt; border-left: 0pt; padding-left: 0pt; vertical-align: bottom; padding-bottom: 1pt; border-bottom: 0pt; padding-right: 0pt; ">
                                <P style="margin-left: 0pt; color: #000000; font-size: 9pt; font-family: Arial, sans-serif; line-height: normal; margin-top: 0; margin-bottom: 0; text-align: right; margin-right: 0pt; "><A name="pfd-nportex_083125a1121"></A><FONT>&#160;651,451</FONT></P>
                            </TD>
                            <TD style="background-color: #cceeff; border-top: 0pt; padding-top: 1pt; border-right: 0pt; border-left: 0pt; padding-left: 0pt; vertical-align: bottom; padding-bottom: 1pt; border-bottom: 0pt; padding-right: 0pt; ">
                                <P style="margin-left: 0pt; color: #000000; text-indent: 0pt; font-size: 9pt; font-family: Arial, sans-serif; line-height: normal; margin-top: 0; margin-bottom: 0; text-align: left; margin-right: 0pt; "><FONT>*</FONT><SUP style="font-size: 7.0pt; line-height: 7.0pt; ">(1)</SUP><FONT>&#160;</FONT></P>
                            </TD>
                        </TR>
                        <TR style="min-height: 3pt; ">
                            <TD style="border-top: 0pt; padding-top: 1pt; border-right: 0pt; border-left: 0pt; padding-left: 0pt; vertical-align: top; padding-bottom: 1pt; border-bottom: 0pt; padding-right: 0pt; ">
                                <P style="margin-left: 0pt; color: #000000; font-size: 9pt; font-family: Arial, sans-serif; line-height: normal; margin-top: 0; margin-bottom: 0; text-align: right; margin-right: 0pt; "><FONT style="float: left; "><FONT>$</FONT></FONT><FONT style="float: right; "><FONT>950,000</FONT></FONT><FONT style="font-size: 9pt; ">&#8203;</FONT>                                    <BR clear="all"></P>
                            </TD>
                            <TD style="border-top: 0pt; padding-top: 0pt; border-right: 0pt; border-left: 0pt; padding-left: 0pt; vertical-align: bottom; padding-bottom: 0pt; border-bottom: 0pt; padding-right: 0pt; ">
                                <P style="margin-left: 0pt; font-size: 1pt; line-height: 1pt; margin-top: 0pt; margin-bottom: 0; margin-right: 0pt; ">&#8203;</P>
                            </TD>
                            <TD style="border-top: 0pt; padding-top: 1pt; border-right: 0pt; border-left: 0pt; padding-left: 0pt; vertical-align: bottom; padding-bottom: 1pt; border-bottom: 0pt; padding-right: 0pt; ">
                                <P style="margin-left: 22.5pt; color: #000000; text-indent: -11.25pt; font-size: 9pt; font-family: Arial, sans-serif; line-height: normal; margin-top: 0; margin-bottom: 0; text-align: left; margin-right: 0pt; "><FONT>7.00% to 08/15/34 then T10Y + 2.757%, Series DD </FONT></P>
                            </TD>
                            <TD style="border-top: 0pt; padding-top: 1pt; border-right: 0pt; border-left: 0pt; padding-left: 0pt; vertical-align: bottom; padding-bottom: 1pt; border-bottom: 0pt; padding-right: 0pt; ">
                                <P style="margin-left: 0pt; color: #000000; font-size: 9pt; font-family: Arial, sans-serif; line-height: normal; margin-top: 0; margin-bottom: 0; text-align: right; margin-right: 0pt; "><A name="pfd-nportex_083125a1122"></A><FONT>&#160;999,488</FONT></P>
                            </TD>
                            <TD style="border-top: 0pt; padding-top: 1pt; border-right: 0pt; border-left: 0pt; padding-left: 0pt; vertical-align: bottom; padding-bottom: 1pt; border-bottom: 0pt; padding-right: 0pt; ">
                                <P style="margin-left: 0pt; color: #000000; text-indent: 0pt; font-size: 9pt; font-family: Arial, sans-serif; line-height: normal; margin-top: 0; margin-bottom: 0; text-align: left; margin-right: 0pt; "><FONT>*</FONT><SUP style="font-size: 7.0pt; line-height: 7.0pt; ">(1)(2)</SUP><FONT>&#160;</FONT></P>
                            </TD>
                        </TR>
                        <TR style="min-height: 3pt; ">
                            <TD style="background-color: #cceeff; border-top: 0pt; padding-top: 1pt; border-right: 0pt; border-left: 0pt; padding-left: 0pt; vertical-align: top; padding-bottom: 1pt; border-bottom: 0pt; padding-right: 0pt; ">
                                <P style="margin-left: 0pt; color: #000000; font-size: 9pt; font-family: Arial, sans-serif; line-height: normal; margin-top: 0; margin-bottom: 0; text-align: right; margin-right: 0pt; "><FONT style="float: left; "><FONT>$</FONT></FONT><FONT style="float: right; "><FONT>1,010,000</FONT></FONT><FONT style="font-size: 9pt; ">&#8203;</FONT>                                    <BR clear="all"></P>
                            </TD>
                            <TD style="background-color: #cceeff; border-top: 0pt; padding-top: 0pt; border-right: 0pt; border-left: 0pt; padding-left: 0pt; vertical-align: bottom; padding-bottom: 0pt; border-bottom: 0pt; padding-right: 0pt; ">
                                <P style="margin-left: 0pt; font-size: 1pt; line-height: 1pt; margin-top: 0pt; margin-bottom: 0; margin-right: 0pt; ">&#8203;</P>
                            </TD>
                            <TD style="background-color: #cceeff; border-top: 0pt; padding-top: 1pt; border-right: 0pt; border-left: 0pt; padding-left: 0pt; vertical-align: bottom; padding-bottom: 1pt; border-bottom: 0pt; padding-right: 0pt; ">
                                <P style="margin-left: 22.5pt; color: #000000; text-indent: -11.25pt; font-size: 9pt; font-family: Arial, sans-serif; line-height: normal; margin-top: 0; margin-bottom: 0; text-align: left; margin-right: 0pt; "><FONT>7.125% to 08/15/29 then T5Y + 2.693%, Series CC </FONT></P>
                            </TD>
                            <TD style="background-color: #cceeff; border-top: 0pt; padding-top: 1pt; border-right: 0pt; border-left: 0pt; padding-left: 0pt; vertical-align: bottom; padding-bottom: 1pt; border-bottom: 0pt; padding-right: 0pt; ">
                                <P style="margin-left: 0pt; color: #000000; font-size: 9pt; font-family: Arial, sans-serif; line-height: normal; margin-top: 0; margin-bottom: 0; text-align: right; margin-right: 0pt; "><A name="pfd-nportex_083125a1123"></A><FONT>&#160;1,036,577</FONT></P>
                            </TD>
                            <TD style="background-color: #cceeff; border-top: 0pt; padding-top: 1pt; border-right: 0pt; border-left: 0pt; padding-left: 0pt; vertical-align: bottom; padding-bottom: 1pt; border-bottom: 0pt; padding-right: 0pt; ">
                                <P style="margin-left: 0pt; color: #000000; text-indent: 0pt; font-size: 9pt; font-family: Arial, sans-serif; line-height: normal; margin-top: 0; margin-bottom: 0; text-align: left; margin-right: 0pt; "><FONT>*</FONT><SUP style="font-size: 7.0pt; line-height: 7.0pt; ">(1)(2)</SUP><FONT>&#160;</FONT></P>
                            </TD>
                        </TR>
                        <TR style="min-height: 3pt; ">
                            <TD style="border-top: 0pt; padding-top: 1pt; border-right: 0pt; border-left: 0pt; padding-left: 0pt; vertical-align: top; padding-bottom: 1pt; border-bottom: 0pt; padding-right: 0pt; ">
                                <P style="margin-left: 0pt; color: #000000; font-size: 9pt; font-family: Arial, sans-serif; line-height: normal; margin-top: 0; margin-bottom: 0; text-align: right; margin-right: 0pt; "><FONT style="float: left; "><FONT>$</FONT></FONT><FONT style="float: right; "><FONT>1,400,000</FONT></FONT><FONT style="font-size: 9pt; ">&#8203;</FONT>                                    <BR clear="all"></P>
                            </TD>
                            <TD style="border-top: 0pt; padding-top: 0pt; border-right: 0pt; border-left: 0pt; padding-left: 0pt; vertical-align: bottom; padding-bottom: 0pt; border-bottom: 0pt; padding-right: 0pt; ">
                                <P style="margin-left: 0pt; font-size: 1pt; line-height: 1pt; margin-top: 0pt; margin-bottom: 0; margin-right: 0pt; ">&#8203;</P>
                            </TD>
                            <TD style="border-top: 0pt; padding-top: 1pt; border-right: 0pt; border-left: 0pt; padding-left: 0pt; vertical-align: bottom; padding-bottom: 1pt; border-bottom: 0pt; padding-right: 0pt; ">
                                <P style="margin-left: 22.5pt; color: #000000; text-indent: -11.25pt; font-size: 9pt; font-family: Arial, sans-serif; line-height: normal; margin-top: 0; margin-bottom: 0; text-align: left; margin-right: 0pt; "><FONT>7.375% to 05/15/28 then T5Y + 3.209%, Series Z </FONT></P>
                            </TD>
                            <TD style="border-top: 0pt; padding-top: 1pt; border-right: 0pt; border-left: 0pt; padding-left: 0pt; vertical-align: bottom; padding-bottom: 1pt; border-bottom: 0pt; padding-right: 0pt; ">
                                <P style="margin-left: 0pt; color: #000000; font-size: 9pt; font-family: Arial, sans-serif; line-height: normal; margin-top: 0; margin-bottom: 0; text-align: right; margin-right: 0pt; "><A name="pfd-nportex_083125a1124"></A><FONT>&#160;1,458,103</FONT></P>
                            </TD>
                            <TD style="border-top: 0pt; padding-top: 1pt; border-right: 0pt; border-left: 0pt; padding-left: 0pt; vertical-align: bottom; padding-bottom: 1pt; border-bottom: 0pt; padding-right: 0pt; ">
                                <P style="margin-left: 0pt; color: #000000; text-indent: 0pt; font-size: 9pt; font-family: Arial, sans-serif; line-height: normal; margin-top: 0; margin-bottom: 0; text-align: left; margin-right: 0pt; "><FONT>*</FONT><SUP style="font-size: 7.0pt; line-height: 7.0pt; ">(1)(2)(3)</SUP><FONT>&#160;</FONT></P>
                            </TD>
                        </TR>
                        <TR style="min-height: 3pt; ">
                            <TD style="background-color: #cceeff; border-top: 0pt; padding-top: 1pt; border-right: 0pt; border-left: 0pt; padding-left: 0pt; vertical-align: top; padding-bottom: 1pt; border-bottom: 0pt; padding-right: 0pt; ">
                                <P style="margin-left: 0pt; color: #000000; font-size: 9pt; font-family: Arial, sans-serif; line-height: normal; margin-top: 0; margin-bottom: 0; text-align: right; margin-right: 0pt; "><FONT style="float: left; "><FONT>$</FONT></FONT><FONT style="float: right; "><FONT>1,250,000</FONT></FONT><FONT style="font-size: 9pt; ">&#8203;</FONT>                                    <BR clear="all"></P>
                            </TD>
                            <TD style="background-color: #cceeff; border-top: 0pt; padding-top: 0pt; border-right: 0pt; border-left: 0pt; padding-left: 0pt; vertical-align: bottom; padding-bottom: 0pt; border-bottom: 0pt; padding-right: 0pt; ">
                                <P style="margin-left: 0pt; font-size: 1pt; line-height: 1pt; margin-top: 0pt; margin-bottom: 0; margin-right: 0pt; ">&#8203;</P>
                            </TD>
                            <TD style="background-color: #cceeff; border-top: 0pt; padding-top: 1pt; border-right: 0pt; border-left: 0pt; padding-left: 0pt; vertical-align: bottom; padding-bottom: 1pt; border-bottom: 0pt; padding-right: 0pt; ">
                                <P style="margin-left: 22.5pt; color: #000000; text-indent: -11.25pt; font-size: 9pt; font-family: Arial, sans-serif; line-height: normal; margin-top: 0; margin-bottom: 0; text-align: left; margin-right: 0pt; "><FONT>7.625% to 11/15/28 then T5Y + 3.211%, Series AA </FONT></P>
                            </TD>
                            <TD style="background-color: #cceeff; border-top: 0pt; padding-top: 1pt; border-right: 0pt; border-left: 0pt; padding-left: 0pt; vertical-align: bottom; padding-bottom: 1pt; border-bottom: 0pt; padding-right: 0pt; ">
                                <P style="margin-left: 0pt; color: #000000; font-size: 9pt; font-family: Arial, sans-serif; line-height: normal; margin-top: 0; margin-bottom: 0; text-align: right; margin-right: 0pt; "><A name="pfd-nportex_083125a1125"></A><FONT>&#160;1,310,562</FONT></P>
                            </TD>
                            <TD style="background-color: #cceeff; border-top: 0pt; padding-top: 1pt; border-right: 0pt; border-left: 0pt; padding-left: 0pt; vertical-align: bottom; padding-bottom: 1pt; border-bottom: 0pt; padding-right: 0pt; ">
                                <P style="margin-left: 0pt; color: #000000; text-indent: 0pt; font-size: 9pt; font-family: Arial, sans-serif; line-height: normal; margin-top: 0; margin-bottom: 0; text-align: left; margin-right: 0pt; "><FONT>*</FONT><SUP style="font-size: 7.0pt; line-height: 7.0pt; ">(1)(2)(3)</SUP><FONT>&#160;</FONT></P>
                            </TD>
                        </TR>
                        <TR style="min-height: 3pt; ">
                            <TD style="border-top: 0pt; padding-top: 1pt; border-right: 0pt; border-left: 0pt; padding-left: 0pt; vertical-align: top; padding-bottom: 1pt; border-bottom: 0pt; padding-right: 0pt; ">
                                <P style="margin-left: 0pt; color: #000000; font-size: 9pt; font-family: Arial, sans-serif; line-height: normal; margin-top: 0; margin-bottom: 0; text-align: right; margin-right: 0pt; "><FONT>&#160;</FONT></P>
                            </TD>
                            <TD style="border-top: 0pt; padding-top: 0pt; border-right: 0pt; border-left: 0pt; padding-left: 0pt; vertical-align: bottom; padding-bottom: 0pt; border-bottom: 0pt; padding-right: 0pt; ">
                                <P style="margin-left: 0pt; font-size: 1pt; line-height: 1pt; margin-top: 0pt; margin-bottom: 0; margin-right: 0pt; ">&#8203;</P>
                            </TD>
                            <TD style="border-top: 0pt; padding-top: 1pt; border-right: 0pt; border-left: 0pt; padding-left: 0pt; vertical-align: bottom; padding-bottom: 1pt; border-bottom: 0pt; padding-right: 0pt; ">
                                <P style="margin-left: 11.25pt; color: #000000; text-indent: -11.25pt; font-size: 9pt; font-family: Arial, sans-serif; line-height: normal; margin-top: 0; margin-bottom: 0; text-align: left; margin-right: 0pt; "><FONT>Citizens Financial Group, Inc.:</FONT></P>
                            </TD>
                            <TD style="border-top: 0pt; padding-top: 0pt; border-right: 0pt; border-left: 0pt; padding-left: 0pt; vertical-align: bottom; padding-bottom: 0pt; border-bottom: 0pt; padding-right: 0pt; ">
                                <P style="margin-left: 0pt; font-size: 1pt; line-height: 1pt; margin-top: 0pt; margin-bottom: 0; margin-right: 0pt; ">&#8203;</P>
                            </TD>
                            <TD style="border-top: 0pt; padding-top: 0pt; border-right: 0pt; border-left: 0pt; padding-left: 0pt; vertical-align: bottom; padding-bottom: 0pt; border-bottom: 0pt; padding-right: 0pt; ">
                                <P style="margin-left: 0pt; font-size: 1pt; line-height: 1pt; margin-top: 0pt; margin-bottom: 0; margin-right: 0pt; ">&#8203;</P>
                            </TD>
                        </TR>
                        <TR style="min-height: 3pt; ">
                            <TD style="background-color: #cceeff; border-top: 0pt; padding-top: 1pt; border-right: 0pt; border-left: 0pt; padding-left: 0pt; vertical-align: top; padding-bottom: 1pt; border-bottom: 0pt; padding-right: 0pt; ">
                                <P style="margin-left: 0pt; color: #000000; font-size: 9pt; font-family: Arial, sans-serif; line-height: normal; margin-top: 0; margin-bottom: 0; text-align: right; margin-right: 0pt; "><FONT>29,000</FONT></P>
                            </TD>
                            <TD style="background-color: #cceeff; border-top: 0pt; padding-top: 0pt; border-right: 0pt; border-left: 0pt; padding-left: 0pt; vertical-align: bottom; padding-bottom: 0pt; border-bottom: 0pt; padding-right: 0pt; ">
                                <P style="margin-left: 0pt; font-size: 1pt; line-height: 1pt; margin-top: 0pt; margin-bottom: 0; margin-right: 0pt; ">&#8203;</P>
                            </TD>
                            <TD style="background-color: #cceeff; border-top: 0pt; padding-top: 1pt; border-right: 0pt; border-left: 0pt; padding-left: 0pt; vertical-align: bottom; padding-bottom: 1pt; border-bottom: 0pt; padding-right: 0pt; ">
                                <P style="margin-left: 22.5pt; color: #000000; text-indent: -11.25pt; font-size: 9pt; font-family: Arial, sans-serif; line-height: normal; margin-top: 0; margin-bottom: 0; text-align: left; margin-right: 0pt; "><FONT>7.375%, Series H </FONT></P>
                            </TD>
                            <TD style="background-color: #cceeff; border-top: 0pt; padding-top: 1pt; border-right: 0pt; border-left: 0pt; padding-left: 0pt; vertical-align: bottom; padding-bottom: 1pt; border-bottom: 0pt; padding-right: 0pt; ">
                                <P style="margin-left: 0pt; color: #000000; font-size: 9pt; font-family: Arial, sans-serif; line-height: normal; margin-top: 0; margin-bottom: 0; text-align: right; margin-right: 0pt; "><A name="pfd-nportex_083125a1126"></A><FONT>&#160;765,020</FONT></P>
                            </TD>
                            <TD style="background-color: #cceeff; border-top: 0pt; padding-top: 1pt; border-right: 0pt; border-left: 0pt; padding-left: 0pt; vertical-align: bottom; padding-bottom: 1pt; border-bottom: 0pt; padding-right: 0pt; ">
                                <P style="margin-left: 0pt; color: #000000; text-indent: 0pt; font-size: 9pt; font-family: Arial, sans-serif; line-height: normal; margin-top: 0; margin-bottom: 0; text-align: left; margin-right: 0pt; "><FONT>*</FONT><SUP style="font-size: 7.0pt; line-height: 7.0pt; ">(1)</SUP><FONT>&#160;</FONT></P>
                            </TD>
                        </TR>
                        <TR style="min-height: 3pt; ">
                            <TD style="border-top: 0pt; padding-top: 1pt; border-right: 0pt; border-left: 0pt; padding-left: 0pt; vertical-align: top; padding-bottom: 1pt; border-bottom: 0pt; padding-right: 0pt; ">
                                <P style="margin-left: 0pt; color: #000000; font-size: 9pt; font-family: Arial, sans-serif; line-height: normal; margin-top: 0; margin-bottom: 0; text-align: right; margin-right: 0pt; "><FONT>27,000</FONT></P>
                            </TD>
                            <TD style="border-top: 0pt; padding-top: 0pt; border-right: 0pt; border-left: 0pt; padding-left: 0pt; vertical-align: bottom; padding-bottom: 0pt; border-bottom: 0pt; padding-right: 0pt; ">
                                <P style="margin-left: 0pt; font-size: 1pt; line-height: 1pt; margin-top: 0pt; margin-bottom: 0; margin-right: 0pt; ">&#8203;</P>
                            </TD>
                            <TD style="border-top: 0pt; padding-top: 1pt; border-right: 0pt; border-left: 0pt; padding-left: 0pt; vertical-align: bottom; padding-bottom: 1pt; border-bottom: 0pt; padding-right: 0pt; ">
                                <P style="margin-left: 22.5pt; color: #000000; text-indent: -11.25pt; font-size: 9pt; font-family: Arial, sans-serif; line-height: normal; margin-top: 0; margin-bottom: 0; text-align: left; margin-right: 0pt; "><FONT>6.50% to 10/06/30 then T5Y + 2.629%, Series I </FONT></P>
                            </TD>
                            <TD style="border-top: 0pt; padding-top: 1pt; border-right: 0pt; border-left: 0pt; padding-left: 0pt; vertical-align: bottom; padding-bottom: 1pt; border-bottom: 0pt; padding-right: 0pt; ">
                                <P style="margin-left: 0pt; color: #000000; font-size: 9pt; font-family: Arial, sans-serif; line-height: normal; margin-top: 0; margin-bottom: 0; text-align: right; margin-right: 0pt; "><A name="pfd-nportex_083125a1127"></A><FONT>&#160;680,940</FONT></P>
                            </TD>
                            <TD style="border-top: 0pt; padding-top: 1pt; border-right: 0pt; border-left: 0pt; padding-left: 0pt; vertical-align: bottom; padding-bottom: 1pt; border-bottom: 0pt; padding-right: 0pt; ">
                                <P style="margin-left: 0pt; color: #000000; text-indent: 0pt; font-size: 9pt; font-family: Arial, sans-serif; line-height: normal; margin-top: 0; margin-bottom: 0; text-align: left; margin-right: 0pt; "><FONT>*</FONT><SUP style="font-size: 7.0pt; line-height: 7.0pt; ">(1)</SUP><FONT>&#160;</FONT></P>
                            </TD>
                        </TR>
                        <TR style="min-height: 3pt; ">
                            <TD style="background-color: #cceeff; border-top: 0pt; padding-top: 1pt; border-right: 0pt; border-left: 0pt; padding-left: 0pt; vertical-align: top; padding-bottom: 1pt; border-bottom: 0pt; padding-right: 0pt; ">
                                <P style="margin-left: 0pt; color: #000000; font-size: 9pt; font-family: Arial, sans-serif; line-height: normal; margin-top: 0; margin-bottom: 0; text-align: right; margin-right: 0pt; "><FONT style="float: left; "><FONT>$</FONT></FONT><FONT style="float: right; "><FONT>1,820,000</FONT></FONT><FONT style="font-size: 9pt; ">&#8203;</FONT>                                    <BR clear="all"></P>
                            </TD>
                            <TD style="background-color: #cceeff; border-top: 0pt; padding-top: 0pt; border-right: 0pt; border-left: 0pt; padding-left: 0pt; vertical-align: bottom; padding-bottom: 0pt; border-bottom: 0pt; padding-right: 0pt; ">
                                <P style="margin-left: 0pt; font-size: 1pt; line-height: 1pt; margin-top: 0pt; margin-bottom: 0; margin-right: 0pt; ">&#8203;</P>
                            </TD>
                            <TD style="background-color: #cceeff; border-top: 0pt; padding-top: 1pt; border-right: 0pt; border-left: 0pt; padding-left: 0pt; vertical-align: bottom; padding-bottom: 1pt; border-bottom: 0pt; padding-right: 0pt; ">
                                <P style="margin-left: 22.5pt; color: #000000; text-indent: -11.25pt; font-size: 9pt; font-family: Arial, sans-serif; line-height: normal; margin-top: 0; margin-bottom: 0; text-align: left; margin-right: 0pt; "><FONT>TSFR3M + 3.41861%, 7.70437%</FONT><SUP style="font-size: 7.0pt; line-height: 7.0pt; ">(4)</SUP><FONT>, Series C </FONT></P>
                            </TD>
                            <TD style="background-color: #cceeff; border-top: 0pt; padding-top: 1pt; border-right: 0pt; border-left: 0pt; padding-left: 0pt; vertical-align: bottom; padding-bottom: 1pt; border-bottom: 0pt; padding-right: 0pt; ">
                                <P style="margin-left: 0pt; color: #000000; font-size: 9pt; font-family: Arial, sans-serif; line-height: normal; margin-top: 0; margin-bottom: 0; text-align: right; margin-right: 0pt; "><A name="pfd-nportex_083125a1128"></A><FONT>&#160;1,826,090</FONT></P>
                            </TD>
                            <TD style="background-color: #cceeff; border-top: 0pt; padding-top: 1pt; border-right: 0pt; border-left: 0pt; padding-left: 0pt; vertical-align: bottom; padding-bottom: 1pt; border-bottom: 0pt; padding-right: 0pt; ">
                                <P style="margin-left: 0pt; color: #000000; text-indent: 0pt; font-size: 9pt; font-family: Arial, sans-serif; line-height: normal; margin-top: 0; margin-bottom: 0; text-align: left; margin-right: 0pt; "><FONT>*</FONT><SUP style="font-size: 7.0pt; line-height: 7.0pt; ">(1)(2)</SUP><FONT>&#160;</FONT></P>
                            </TD>
                        </TR>
                        <TR style="min-height: 3pt; ">
                            <TD style="border-top: 0pt; padding-top: 1pt; border-right: 0pt; border-left: 0pt; padding-left: 0pt; vertical-align: top; padding-bottom: 1pt; border-bottom: 0pt; padding-right: 0pt; ">
                                <P style="margin-left: 0pt; color: #000000; font-size: 9pt; font-family: Arial, sans-serif; line-height: normal; margin-top: 0; margin-bottom: 0; text-align: right; margin-right: 0pt; "><FONT>&#160;</FONT></P>
                            </TD>
                            <TD style="border-top: 0pt; padding-top: 0pt; border-right: 0pt; border-left: 0pt; padding-left: 0pt; vertical-align: bottom; padding-bottom: 0pt; border-bottom: 0pt; padding-right: 0pt; ">
                                <P style="margin-left: 0pt; font-size: 1pt; line-height: 1pt; margin-top: 0pt; margin-bottom: 0; margin-right: 0pt; ">&#8203;</P>
                            </TD>
                            <TD style="border-top: 0pt; padding-top: 1pt; border-right: 0pt; border-left: 0pt; padding-left: 0pt; vertical-align: bottom; padding-bottom: 1pt; border-bottom: 0pt; padding-right: 0pt; ">
                                <P style="margin-left: 11.25pt; color: #000000; text-indent: -11.25pt; font-size: 9pt; font-family: Arial, sans-serif; line-height: normal; margin-top: 0; margin-bottom: 0; text-align: left; margin-right: 0pt; "><FONT>CoBank ACB:</FONT></P>
                            </TD>
                            <TD style="border-top: 0pt; padding-top: 0pt; border-right: 0pt; border-left: 0pt; padding-left: 0pt; vertical-align: bottom; padding-bottom: 0pt; border-bottom: 0pt; padding-right: 0pt; ">
                                <P style="margin-left: 0pt; font-size: 1pt; line-height: 1pt; margin-top: 0pt; margin-bottom: 0; margin-right: 0pt; ">&#8203;</P>
                            </TD>
                            <TD style="border-top: 0pt; padding-top: 0pt; border-right: 0pt; border-left: 0pt; padding-left: 0pt; vertical-align: bottom; padding-bottom: 0pt; border-bottom: 0pt; padding-right: 0pt; ">
                                <P style="margin-left: 0pt; font-size: 1pt; line-height: 1pt; margin-top: 0pt; margin-bottom: 0; margin-right: 0pt; ">&#8203;</P>
                            </TD>
                        </TR>
                        <TR style="min-height: 3pt; ">
                            <TD style="background-color: #cceeff; border-top: 0pt; padding-top: 1pt; border-right: 0pt; border-left: 0pt; padding-left: 0pt; vertical-align: top; padding-bottom: 1pt; border-bottom: 0pt; padding-right: 0pt; ">
                                <P style="margin-left: 0pt; color: #000000; font-size: 9pt; font-family: Arial, sans-serif; line-height: normal; margin-top: 0; margin-bottom: 0; text-align: right; margin-right: 0pt; "><FONT style="float: left; "><FONT>$</FONT></FONT><FONT style="float: right; "><FONT>447,000</FONT></FONT><FONT style="font-size: 9pt; ">&#8203;</FONT>                                    <BR clear="all"></P>
                            </TD>
                            <TD style="background-color: #cceeff; border-top: 0pt; padding-top: 0pt; border-right: 0pt; border-left: 0pt; padding-left: 0pt; vertical-align: bottom; padding-bottom: 0pt; border-bottom: 0pt; padding-right: 0pt; ">
                                <P style="margin-left: 0pt; font-size: 1pt; line-height: 1pt; margin-top: 0pt; margin-bottom: 0; margin-right: 0pt; ">&#8203;</P>
                            </TD>
                            <TD style="background-color: #cceeff; border-top: 0pt; padding-top: 1pt; border-right: 0pt; border-left: 0pt; padding-left: 0pt; vertical-align: bottom; padding-bottom: 1pt; border-bottom: 0pt; padding-right: 0pt; ">
                                <P style="margin-left: 22.5pt; color: #000000; text-indent: -11.25pt; font-size: 9pt; font-family: Arial, sans-serif; line-height: normal; margin-top: 0; margin-bottom: 0; text-align: left; margin-right: 0pt; "><FONT>6.25% to 10/01/26 then TSFR3M + 4.92161%, Series I, 144A**** </FONT></P>
                            </TD>
                            <TD style="background-color: #cceeff; border-top: 0pt; padding-top: 1pt; border-right: 0pt; border-left: 0pt; padding-left: 0pt; vertical-align: bottom; padding-bottom: 1pt; border-bottom: 0pt; padding-right: 0pt; ">
                                <P style="margin-left: 0pt; color: #000000; font-size: 9pt; font-family: Arial, sans-serif; line-height: normal; margin-top: 0; margin-bottom: 0; text-align: right; margin-right: 0pt; "><A name="pfd-nportex_083125a1129"></A><FONT>&#160;448,301</FONT></P>
                            </TD>
                            <TD style="background-color: #cceeff; border-top: 0pt; padding-top: 1pt; border-right: 0pt; border-left: 0pt; padding-left: 0pt; vertical-align: bottom; padding-bottom: 1pt; border-bottom: 0pt; padding-right: 0pt; ">
                                <P style="margin-left: 0pt; color: #000000; text-indent: 0pt; font-size: 9pt; font-family: Arial, sans-serif; line-height: normal; margin-top: 0; margin-bottom: 0; text-align: left; margin-right: 0pt; "><FONT>*</FONT><SUP style="font-size: 7.0pt; line-height: 7.0pt; ">(1)(2)</SUP><FONT>&#160;</FONT></P>
                            </TD>
                        </TR>
                        <TR style="min-height: 3pt; ">
                            <TD style="border-top: 0pt; padding-top: 1pt; border-right: 0pt; border-left: 0pt; padding-left: 0pt; vertical-align: top; padding-bottom: 1pt; border-bottom: 0pt; padding-right: 0pt; ">
                                <P style="margin-left: 0pt; color: #000000; font-size: 9pt; font-family: Arial, sans-serif; line-height: normal; margin-top: 0; margin-bottom: 0; text-align: right; margin-right: 0pt; "><FONT style="float: left; "><FONT>$</FONT></FONT><FONT style="float: right; "><FONT>430,000</FONT></FONT><FONT style="font-size: 9pt; ">&#8203;</FONT>                                    <BR clear="all"></P>
                            </TD>
                            <TD style="border-top: 0pt; padding-top: 0pt; border-right: 0pt; border-left: 0pt; padding-left: 0pt; vertical-align: bottom; padding-bottom: 0pt; border-bottom: 0pt; padding-right: 0pt; ">
                                <P style="margin-left: 0pt; font-size: 1pt; line-height: 1pt; margin-top: 0pt; margin-bottom: 0; margin-right: 0pt; ">&#8203;</P>
                            </TD>
                            <TD style="border-top: 0pt; padding-top: 1pt; border-right: 0pt; border-left: 0pt; padding-left: 0pt; vertical-align: bottom; padding-bottom: 1pt; border-bottom: 0pt; padding-right: 0pt; ">
                                <P style="margin-left: 22.5pt; color: #000000; text-indent: -11.25pt; font-size: 9pt; font-family: Arial, sans-serif; line-height: normal; margin-top: 0; margin-bottom: 0; text-align: left; margin-right: 0pt; "><FONT>7.125% to 01/01/30 then T5Y + 2.818%, Series M, 144A**** </FONT></P>
                            </TD>
                            <TD style="border-top: 0pt; padding-top: 1pt; border-right: 0pt; border-left: 0pt; padding-left: 0pt; vertical-align: bottom; padding-bottom: 1pt; border-bottom: 0pt; padding-right: 0pt; ">
                                <P style="margin-left: 0pt; color: #000000; font-size: 9pt; font-family: Arial, sans-serif; line-height: normal; margin-top: 0; margin-bottom: 0; text-align: right; margin-right: 0pt; "><A name="pfd-nportex_083125a1130"></A><FONT>&#160;441,676</FONT></P>
                            </TD>
                            <TD style="border-top: 0pt; padding-top: 1pt; border-right: 0pt; border-left: 0pt; padding-left: 0pt; vertical-align: bottom; padding-bottom: 1pt; border-bottom: 0pt; padding-right: 0pt; ">
                                <P style="margin-left: 0pt; color: #000000; text-indent: 0pt; font-size: 9pt; font-family: Arial, sans-serif; line-height: normal; margin-top: 0; margin-bottom: 0; text-align: left; margin-right: 0pt; "><FONT>*</FONT><SUP style="font-size: 7.0pt; line-height: 7.0pt; ">(1)</SUP><FONT>&#160;</FONT></P>
                            </TD>
                        </TR>
                        <TR style="min-height: 3pt; ">
                            <TD style="background-color: #cceeff; border-top: 0pt; padding-top: 1pt; border-right: 0pt; border-left: 0pt; padding-left: 0pt; vertical-align: top; padding-bottom: 1pt; border-bottom: 0pt; padding-right: 0pt; ">
                                <P style="margin-left: 0pt; color: #000000; font-size: 9pt; font-family: Arial, sans-serif; line-height: normal; margin-top: 0; margin-bottom: 0; text-align: right; margin-right: 0pt; "><FONT>91,700</FONT></P>
                            </TD>
                            <TD style="background-color: #cceeff; border-top: 0pt; padding-top: 0pt; border-right: 0pt; border-left: 0pt; padding-left: 0pt; vertical-align: bottom; padding-bottom: 0pt; border-bottom: 0pt; padding-right: 0pt; ">
                                <P style="margin-left: 0pt; font-size: 1pt; line-height: 1pt; margin-top: 0pt; margin-bottom: 0; margin-right: 0pt; ">&#8203;</P>
                            </TD>
                            <TD style="background-color: #cceeff; border-top: 0pt; padding-top: 1pt; border-right: 0pt; border-left: 0pt; padding-left: 0pt; vertical-align: bottom; padding-bottom: 1pt; border-bottom: 0pt; padding-right: 0pt; ">
                                <P style="margin-left: 11.25pt; color: #000000; text-indent: -11.25pt; font-size: 9pt; font-family: Arial, sans-serif; line-height: normal; margin-top: 0; margin-bottom: 0; text-align: left; margin-right: 0pt; "><FONT>Comerica, Inc., 6.875% to 10/01/30 then T5Y + 3.125%, Series B </FONT></P>
                            </TD>
                            <TD style="background-color: #cceeff; border-top: 0pt; padding-top: 1pt; border-right: 0pt; border-left: 0pt; padding-left: 0pt; vertical-align: bottom; padding-bottom: 1pt; border-bottom: 0pt; padding-right: 0pt; ">
                                <P style="margin-left: 0pt; color: #000000; font-size: 9pt; font-family: Arial, sans-serif; line-height: normal; margin-top: 0; margin-bottom: 0; text-align: right; margin-right: 0pt; "><A name="pfd-nportex_083125a1131"></A><FONT>&#160;2,320,010</FONT></P>
                            </TD>
                            <TD style="background-color: #cceeff; border-top: 0pt; padding-top: 1pt; border-right: 0pt; border-left: 0pt; padding-left: 0pt; vertical-align: bottom; padding-bottom: 1pt; border-bottom: 0pt; padding-right: 0pt; ">
                                <P style="margin-left: 0pt; color: #000000; text-indent: 0pt; font-size: 9pt; font-family: Arial, sans-serif; line-height: normal; margin-top: 0; margin-bottom: 0; text-align: left; margin-right: 0pt; "><FONT>*</FONT><SUP style="font-size: 7.0pt; line-height: 7.0pt; ">(1)</SUP><FONT>&#160;</FONT></P>
                            </TD>
                        </TR>
                        <TR style="min-height: 3pt; ">
                            <TD style="border-top: 0pt; padding-top: 1pt; border-right: 0pt; border-left: 0pt; padding-left: 0pt; vertical-align: top; padding-bottom: 1pt; border-bottom: 0pt; padding-right: 0pt; ">
                                <P style="margin-left: 0pt; color: #000000; font-size: 9pt; font-family: Arial, sans-serif; line-height: normal; margin-top: 0; margin-bottom: 0; text-align: right; margin-right: 0pt; "><FONT style="float: left; "><FONT>$</FONT></FONT><FONT style="float: right; "><FONT>250,000</FONT></FONT><FONT style="font-size: 9pt; ">&#8203;</FONT>                                    <BR clear="all"></P>
                            </TD>
                            <TD style="border-top: 0pt; padding-top: 0pt; border-right: 0pt; border-left: 0pt; padding-left: 0pt; vertical-align: bottom; padding-bottom: 0pt; border-bottom: 0pt; padding-right: 0pt; ">
                                <P style="margin-left: 0pt; font-size: 1pt; line-height: 1pt; margin-top: 0pt; margin-bottom: 0; margin-right: 0pt; ">&#8203;</P>
                            </TD>
                            <TD style="border-top: 0pt; padding-top: 1pt; border-right: 0pt; border-left: 0pt; padding-left: 0pt; vertical-align: bottom; padding-bottom: 1pt; border-bottom: 0pt; padding-right: 0pt; ">
                                <P style="margin-left: 11.25pt; color: #000000; text-indent: -11.25pt; font-size: 9pt; font-family: Arial, sans-serif; line-height: normal; margin-top: 0; margin-bottom: 0; text-align: left; margin-right: 0pt; "><FONT>Compeer Financial ACA, 4.875% to 08/15/26 then T5Y + 4.10%, Series B-1, 144A**** </FONT></P>
                            </TD>
                            <TD style="border-top: 0pt; padding-top: 1pt; border-right: 0pt; border-left: 0pt; padding-left: 0pt; vertical-align: bottom; padding-bottom: 1pt; border-bottom: 0pt; padding-right: 0pt; ">
                                <P style="margin-left: 0pt; color: #000000; font-size: 9pt; font-family: Arial, sans-serif; line-height: normal; margin-top: 0; margin-bottom: 0; text-align: right; margin-right: 0pt; "><A name="pfd-nportex_083125a1132"></A><FONT>&#160;243,750</FONT></P>
                            </TD>
                            <TD style="border-top: 0pt; padding-top: 1pt; border-right: 0pt; border-left: 0pt; padding-left: 0pt; vertical-align: bottom; padding-bottom: 1pt; border-bottom: 0pt; padding-right: 0pt; ">
                                <P style="margin-left: 0pt; color: #000000; text-indent: 0pt; font-size: 9pt; font-family: Arial, sans-serif; line-height: normal; margin-top: 0; margin-bottom: 0; text-align: left; margin-right: 0pt; "><FONT>*</FONT><SUP style="font-size: 7.0pt; line-height: 7.0pt; ">(1)</SUP><FONT>&#160;</FONT></P>
                            </TD>
                        </TR>
                        <TR style="min-height: 3pt; ">
                            <TD style="background-color: #cceeff; border-top: 0pt; padding-top: 1pt; border-right: 0pt; border-left: 0pt; padding-left: 0pt; vertical-align: top; padding-bottom: 1pt; border-bottom: 0pt; padding-right: 0pt; ">
                                <P style="margin-left: 0pt; color: #000000; font-size: 9pt; font-family: Arial, sans-serif; line-height: normal; margin-top: 0; margin-bottom: 0; text-align: right; margin-right: 0pt; "><FONT>35,800</FONT></P>
                            </TD>
                            <TD style="background-color: #cceeff; border-top: 0pt; padding-top: 0pt; border-right: 0pt; border-left: 0pt; padding-left: 0pt; vertical-align: bottom; padding-bottom: 0pt; border-bottom: 0pt; padding-right: 0pt; ">
                                <P style="margin-left: 0pt; font-size: 1pt; line-height: 1pt; margin-top: 0pt; margin-bottom: 0; margin-right: 0pt; ">&#8203;</P>
                            </TD>
                            <TD style="background-color: #cceeff; border-top: 0pt; padding-top: 1pt; border-right: 0pt; border-left: 0pt; padding-left: 0pt; vertical-align: bottom; padding-bottom: 1pt; border-bottom: 0pt; padding-right: 0pt; ">
                                <P style="margin-left: 11.25pt; color: #000000; text-indent: -11.25pt; font-size: 9pt; font-family: Arial, sans-serif; line-height: normal; margin-top: 0; margin-bottom: 0; text-align: left; margin-right: 0pt; "><FONT>ConnectOne Bancorp, Inc., 5.25% to 09/01/26 then T5Y + 4.42%, Series A </FONT></P>
                            </TD>
                            <TD style="background-color: #cceeff; border-top: 0pt; padding-top: 1pt; border-right: 0pt; border-left: 0pt; padding-left: 0pt; vertical-align: bottom; padding-bottom: 1pt; border-bottom: 0pt; padding-right: 0pt; ">
                                <P style="margin-left: 0pt; color: #000000; font-size: 9pt; font-family: Arial, sans-serif; line-height: normal; margin-top: 0; margin-bottom: 0; text-align: right; margin-right: 0pt; "><A name="pfd-nportex_083125a1133"></A><FONT>&#160;830,560</FONT></P>
                            </TD>
                            <TD style="background-color: #cceeff; border-top: 0pt; padding-top: 1pt; border-right: 0pt; border-left: 0pt; padding-left: 0pt; vertical-align: bottom; padding-bottom: 1pt; border-bottom: 0pt; padding-right: 0pt; ">
                                <P style="margin-left: 0pt; color: #000000; text-indent: 0pt; font-size: 9pt; font-family: Arial, sans-serif; line-height: normal; margin-top: 0; margin-bottom: 0; text-align: left; margin-right: 0pt; "><FONT>*</FONT><SUP style="font-size: 7.0pt; line-height: 7.0pt; ">(1)</SUP><FONT>&#160;</FONT></P>
                            </TD>
                        </TR>
                        <TR style="min-height: 3pt; ">
                            <TD style="border-top: 0pt; padding-top: 1pt; border-right: 0pt; border-left: 0pt; padding-left: 0pt; vertical-align: top; padding-bottom: 1pt; border-bottom: 0pt; padding-right: 0pt; ">
                                <P style="margin-left: 0pt; color: #000000; font-size: 9pt; font-family: Arial, sans-serif; line-height: normal; margin-top: 0; margin-bottom: 0; text-align: right; margin-right: 0pt; "><FONT>29,000</FONT></P>
                            </TD>
                            <TD style="border-top: 0pt; padding-top: 0pt; border-right: 0pt; border-left: 0pt; padding-left: 0pt; vertical-align: bottom; padding-bottom: 0pt; border-bottom: 0pt; padding-right: 0pt; ">
                                <P style="margin-left: 0pt; font-size: 1pt; line-height: 1pt; margin-top: 0pt; margin-bottom: 0; margin-right: 0pt; ">&#8203;</P>
                            </TD>
                            <TD style="border-top: 0pt; padding-top: 1pt; border-right: 0pt; border-left: 0pt; padding-left: 0pt; vertical-align: bottom; padding-bottom: 1pt; border-bottom: 0pt; padding-right: 0pt; ">
                                <P style="margin-left: 11.25pt; color: #000000; text-indent: -11.25pt; font-size: 9pt; font-family: Arial, sans-serif; line-height: normal; margin-top: 0; margin-bottom: 0; text-align: left; margin-right: 0pt; "><FONT>Dime Community Bancshares, Inc., 5.50%, Series A </FONT></P>
                            </TD>
                            <TD style="border-top: 0pt; padding-top: 1pt; border-right: 0pt; border-left: 0pt; padding-left: 0pt; vertical-align: bottom; padding-bottom: 1pt; border-bottom: 0pt; padding-right: 0pt; ">
                                <P style="margin-left: 0pt; color: #000000; font-size: 9pt; font-family: Arial, sans-serif; line-height: normal; margin-top: 0; margin-bottom: 0; text-align: right; margin-right: 0pt; "><A name="pfd-nportex_083125a1134"></A><FONT>&#160;554,190</FONT></P>
                            </TD>
                            <TD style="border-top: 0pt; padding-top: 1pt; border-right: 0pt; border-left: 0pt; padding-left: 0pt; vertical-align: bottom; padding-bottom: 1pt; border-bottom: 0pt; padding-right: 0pt; ">
                                <P style="margin-left: 0pt; color: #000000; text-indent: 0pt; font-size: 9pt; font-family: Arial, sans-serif; line-height: normal; margin-top: 0; margin-bottom: 0; text-align: left; margin-right: 0pt; "><FONT>*</FONT><SUP style="font-size: 7.0pt; line-height: 7.0pt; ">(1)</SUP><FONT>&#160;</FONT></P>
                            </TD>
                        </TR>
                        <TR style="min-height: 3pt; ">
                            <TD style="background-color: #cceeff; border-top: 0pt; padding-top: 1pt; border-right: 0pt; border-left: 0pt; padding-left: 0pt; vertical-align: top; padding-bottom: 1pt; border-bottom: 0pt; padding-right: 0pt; ">
                                <P style="margin-left: 0pt; color: #000000; font-size: 9pt; font-family: Arial, sans-serif; line-height: normal; margin-top: 0; margin-bottom: 0; text-align: right; margin-right: 0pt; "><FONT style="float: left; "><FONT>$</FONT></FONT><FONT style="float: right; "><FONT>515,000</FONT></FONT><FONT style="font-size: 9pt; ">&#8203;</FONT>                                    <BR clear="all"></P>
                            </TD>
                            <TD style="background-color: #cceeff; border-top: 0pt; padding-top: 0pt; border-right: 0pt; border-left: 0pt; padding-left: 0pt; vertical-align: bottom; padding-bottom: 0pt; border-bottom: 0pt; padding-right: 0pt; ">
                                <P style="margin-left: 0pt; font-size: 1pt; line-height: 1pt; margin-top: 0pt; margin-bottom: 0; margin-right: 0pt; ">&#8203;</P>
                            </TD>
                            <TD style="background-color: #cceeff; border-top: 0pt; padding-top: 1pt; border-right: 0pt; border-left: 0pt; padding-left: 0pt; vertical-align: bottom; padding-bottom: 1pt; border-bottom: 0pt; padding-right: 0pt; ">
                                <P style="margin-left: 11.25pt; color: #000000; text-indent: -11.25pt; font-size: 9pt; font-family: Arial, sans-serif; line-height: normal; margin-top: 0; margin-bottom: 0; text-align: left; margin-right: 0pt; "><FONT>Farm Credit Bank of Texas, 7.00% to 09/15/30 then T5Y + 3.01%, <br>Series 6, 144A**** </FONT></P>
                            </TD>
                            <TD style="background-color: #cceeff; border-top: 0pt; padding-top: 1pt; border-right: 0pt; border-left: 0pt; padding-left: 0pt; vertical-align: bottom; padding-bottom: 1pt; border-bottom: 0pt; padding-right: 0pt; ">
                                <P style="margin-left: 0pt; color: #000000; font-size: 9pt; font-family: Arial, sans-serif; line-height: normal; margin-top: 0; margin-bottom: 0; text-align: right; margin-right: 0pt; "><A name="pfd-nportex_083125a1135"></A><FONT>&#160;529,066</FONT></P>
                            </TD>
                            <TD style="background-color: #cceeff; border-top: 0pt; padding-top: 1pt; border-right: 0pt; border-left: 0pt; padding-left: 0pt; vertical-align: bottom; padding-bottom: 1pt; border-bottom: 0pt; padding-right: 0pt; ">
                                <P style="margin-left: 0pt; color: #000000; text-indent: 0pt; font-size: 9pt; font-family: Arial, sans-serif; line-height: normal; margin-top: 0; margin-bottom: 0; text-align: left; margin-right: 0pt; "><SUP style="font-size: 7.0pt; line-height: 7.0pt; ">(1)</SUP><FONT>&#160;</FONT></P>
                            </TD>
                        </TR>
                        <TR style="min-height: 3pt; ">
                            <TD style="border-top: 0pt; padding-top: 1pt; border-right: 0pt; border-left: 0pt; padding-left: 0pt; vertical-align: top; padding-bottom: 1pt; border-bottom: 0pt; padding-right: 0pt; ">
                                <P style="margin-left: 0pt; color: #000000; font-size: 9pt; font-family: Arial, sans-serif; line-height: normal; margin-top: 0; margin-bottom: 0; text-align: right; margin-right: 0pt; "><FONT>164,935</FONT></P>
                            </TD>
                            <TD style="border-top: 0pt; padding-top: 0pt; border-right: 0pt; border-left: 0pt; padding-left: 0pt; vertical-align: bottom; padding-bottom: 0pt; border-bottom: 0pt; padding-right: 0pt; ">
                                <P style="margin-left: 0pt; font-size: 1pt; line-height: 1pt; margin-top: 0pt; margin-bottom: 0; margin-right: 0pt; ">&#8203;</P>
                            </TD>
                            <TD style="border-top: 0pt; padding-top: 1pt; border-right: 0pt; border-left: 0pt; padding-left: 0pt; vertical-align: bottom; padding-bottom: 1pt; border-bottom: 0pt; padding-right: 0pt; ">
                                <P style="margin-left: 11.25pt; color: #000000; text-indent: -11.25pt; font-size: 9pt; font-family: Arial, sans-serif; line-height: normal; margin-top: 0; margin-bottom: 0; text-align: left; margin-right: 0pt; "><FONT>Fifth Third Bancorp, TSFR3M + 3.97161%, 8.26722%</FONT><SUP style="font-size: 7.0pt; line-height: 7.0pt; ">(4)</SUP><FONT>, Series I </FONT></P>
                            </TD>
                            <TD style="border-top: 0pt; padding-top: 1pt; border-right: 0pt; border-left: 0pt; padding-left: 0pt; vertical-align: bottom; padding-bottom: 1pt; border-bottom: 0pt; padding-right: 0pt; ">
                                <P style="margin-left: 0pt; color: #000000; font-size: 9pt; font-family: Arial, sans-serif; line-height: normal; margin-top: 0; margin-bottom: 0; text-align: right; margin-right: 0pt; "><A name="pfd-nportex_083125a1136"></A><FONT>&#160;4,214,089</FONT></P>
                            </TD>
                            <TD style="border-top: 0pt; padding-top: 1pt; border-right: 0pt; border-left: 0pt; padding-left: 0pt; vertical-align: bottom; padding-bottom: 1pt; border-bottom: 0pt; padding-right: 0pt; ">
                                <P style="margin-left: 0pt; color: #000000; text-indent: 0pt; font-size: 9pt; font-family: Arial, sans-serif; line-height: normal; margin-top: 0; margin-bottom: 0; text-align: left; margin-right: 0pt; "><FONT>*</FONT><SUP style="font-size: 7.0pt; line-height: 7.0pt; ">(1)(2)</SUP><FONT>&#160;</FONT></P>
                            </TD>
                        </TR>
                        <TR style="min-height: 3pt; ">
                            <TD style="background-color: #cceeff; border-top: 0pt; padding-top: 1pt; border-right: 0pt; border-left: 0pt; padding-left: 0pt; vertical-align: top; padding-bottom: 1pt; border-bottom: 0pt; padding-right: 0pt; ">
                                <P style="margin-left: 0pt; color: #000000; font-size: 9pt; font-family: Arial, sans-serif; line-height: normal; margin-top: 0; margin-bottom: 0; text-align: right; margin-right: 0pt; "><FONT>95,190</FONT></P>
                            </TD>
                            <TD style="background-color: #cceeff; border-top: 0pt; padding-top: 0pt; border-right: 0pt; border-left: 0pt; padding-left: 0pt; vertical-align: bottom; padding-bottom: 0pt; border-bottom: 0pt; padding-right: 0pt; ">
                                <P style="margin-left: 0pt; font-size: 1pt; line-height: 1pt; margin-top: 0pt; margin-bottom: 0; margin-right: 0pt; ">&#8203;</P>
                            </TD>
                            <TD style="background-color: #cceeff; border-top: 0pt; padding-top: 1pt; border-right: 0pt; border-left: 0pt; padding-left: 0pt; vertical-align: bottom; padding-bottom: 1pt; border-bottom: 0pt; padding-right: 0pt; ">
                                <P style="margin-left: 11.25pt; color: #000000; text-indent: -11.25pt; font-size: 9pt; font-family: Arial, sans-serif; line-height: normal; margin-top: 0; margin-bottom: 0; text-align: left; margin-right: 0pt; "><FONT>First Citizens BancShares, Inc., 5.375%, Series A </FONT></P>
                            </TD>
                            <TD style="background-color: #cceeff; border-top: 0pt; padding-top: 1pt; border-right: 0pt; border-left: 0pt; padding-left: 0pt; vertical-align: bottom; padding-bottom: 1pt; border-bottom: 0pt; padding-right: 0pt; ">
                                <P style="margin-left: 0pt; color: #000000; font-size: 9pt; font-family: Arial, sans-serif; line-height: normal; margin-top: 0; margin-bottom: 0; text-align: right; margin-right: 0pt; "><A name="pfd-nportex_083125a1137"></A><FONT>&#160;2,036,114</FONT></P>
                            </TD>
                            <TD style="background-color: #cceeff; border-top: 0pt; padding-top: 1pt; border-right: 0pt; border-left: 0pt; padding-left: 0pt; vertical-align: bottom; padding-bottom: 1pt; border-bottom: 0pt; padding-right: 0pt; ">
                                <P style="margin-left: 0pt; color: #000000; text-indent: 0pt; font-size: 9pt; font-family: Arial, sans-serif; line-height: normal; margin-top: 0; margin-bottom: 0; text-align: left; margin-right: 0pt; "><FONT>*</FONT><SUP style="font-size: 7.0pt; line-height: 7.0pt; ">(1)(2)&#160;</SUP><FONT>&#160;</FONT></P>
                            </TD>
                        </TR>
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        <DIV style="page-break-before: always; ">
            <P style="font-size: 5pt; margin: 0pt; ">&#8203;</P>
        </DIV>
        <DIV style="margin: auto; overflow: hidden; width: 675.0pt; position: relative; border-bottom: 2pt solid black; height: 765.0pt; ">
            <DIV style="border: 0pt; padding-top: 0pt; top: 697.5pt; left: 33.75pt; padding-left: 0pt; width: 607.5pt; padding-bottom: 0pt; position: absolute; padding-right: 0pt; height: 33.75pt; ">
                <DIV style="vertical-align: bottom; width: 607.5pt; display: table-cell; height: 33.75pt; ">
                    <!-- [if IE]><TABLE><TR style=" width: 607.5pt; height: 33.75pt;"><TD vAlign="bottom" style=" width: 607.5pt; height: 33.75pt;"><![endif]-->
                    <P style="margin-left: 0pt; color: #000000; text-indent: 0pt; font-size: 12pt; font-family: Times New Roman, Times, serif; margin-top: 0pt; margin-bottom: 0pt; text-align: center; margin-right: 0pt; "><FONT style="font-size: 8pt; font-family: Arial, sans-serif; "> <br></FONT><FONT style="font-size: 10pt; font-family: Arial, sans-serif; ">2</FONT></P>
                    <!-- [if IE]></TD></TR></TABLE><![endif]-->
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            <DIV style="border: 0pt; padding-top: 0pt; top: 33.75pt; left: 33.75pt; padding-left: 0pt; width: 607.5pt; padding-bottom: 0pt; position: absolute; padding-right: 0pt; height: 86.25pt; ">
                <P style="border-top: 1pt solid ; color: #000000; font-size: 12pt; margin-right: 0pt; margin-left: 0pt; text-indent: 0pt; font-family: Times New Roman, Times, serif; margin-top: 0pt; margin-bottom: 0pt; "><FONT style="font-size: 8pt; font-family: Arial, sans-serif; ">&#160;</FONT></P>
                <P style="margin-left: 0pt; color: #000000; text-indent: 0pt; font-size: 12pt; font-family: Times New Roman, Times, serif; margin-top: 0pt; margin-bottom: 0pt; margin-right: 0pt; "><FONT style="font-size: 8pt; font-family: Arial, sans-serif; ">Flaherty &amp; Crumrine Preferred and Income Fund Incorporated</FONT></P>
                <P style="margin-left: 0pt; color: #000000; text-indent: 0pt; font-size: 12pt; font-family: Times New Roman, Times, serif; margin-top: 0pt; margin-bottom: 0pt; margin-right: 0pt; "><FONT style="font-family: Arial, sans-serif; ">PORTFOLIO OF INVESTMENTS (Continued)</FONT></P>
                <P style="margin-left: 0pt; color: #000000; text-indent: 0pt; font-size: 12pt; font-family: Times New Roman, Times, serif; margin-top: 0pt; margin-bottom: 0pt; margin-right: 0pt; "><FONT style="font-size: 10pt; font-family: Arial, sans-serif; ">August 31, 2025&#160;(Unaudited)</FONT></P>
                <P style="color: #000000; font-size: 12pt; border-bottom: 1pt solid ; margin-right: 0pt; margin-left: 0pt; text-indent: 0pt; font-family: Times New Roman, Times, serif; margin-top: 0pt; margin-bottom: 0pt; "><FONT style="font-size: 8pt; font-family: Arial, sans-serif; ">&#160;</FONT></P>
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            <DIV style="border: 0pt; padding-top: 0pt; top: 120pt; left: 33.75pt; padding-left: 0pt; width: 607.5pt; padding-bottom: 0pt; position: absolute; padding-right: 0pt; height: 577.5pt; ">
                <DIV style="margin-left: 0pt; color: #000000; font-size: 9pt; font-family: Arial, sans-serif; line-height: 11pt; margin-top: 0pt; margin-bottom: 0pt; text-align: justify; margin-right: 0pt; ">
                    <TABLE style="width: 623.75pt; margin-top: 0pt; margin-bottom: 0pt; table-layout: fixed; border-collapse: collapse; ">
                        <TR style="margin: 0; height: 0; ">
                            <TD style="border: 0; width: 68.75pt; padding: 0; margin: 0; ">
                            </TD>
                            <TD style="border: 0; width: 15.0pt; padding: 0; margin: 0; ">
                            </TD>
                            <TD style="border: 0; width: 412.5pt; padding: 0; margin: 0; ">
                            </TD>
                            <TD style="border: 0; width: 82.5pt; padding: 0; margin: 0; ">
                            </TD>
                            <TD style="border: 0; width: 45.0pt; padding: 0; margin: 0; ">
                            </TD>
                        </TR>
                        <TR style="min-height: 3pt; ">
                            <TD style="border-top: 0pt; padding-top: 1pt; border-right: 0pt; border-left: 0pt; padding-left: 0pt; vertical-align: bottom; padding-bottom: 1pt; border-bottom: 0.5pt solid #000000; padding-right: 0pt; ">
                                <P style="margin-left: 0pt; color: #000000; text-indent: 0pt; font-size: 8pt; font-family: Arial, sans-serif; line-height: normal; margin-top: 0; margin-bottom: 0; text-align: center; margin-right: 0pt; "><FONT style="font-weight: bold; "><B>Shares/$ Par</B></FONT></P>
                            </TD>
                            <TD style="border-top: 0pt; padding-top: 0pt; border-right: 0pt; border-left: 0pt; padding-left: 0pt; vertical-align: top; padding-bottom: 0pt; border-bottom: 0.5pt solid #000000; padding-right: 0pt; ">
                                <P style="margin-left: 0pt; font-size: 1pt; line-height: 1pt; margin-top: 0pt; margin-bottom: 0; margin-right: 0pt; ">&#8203;</P>
                            </TD>
                            <TD style="border-top: 0pt; padding-top: 0pt; border-right: 0pt; border-left: 0pt; padding-left: 0pt; vertical-align: bottom; padding-bottom: 0pt; border-bottom: 0.5pt solid #000000; padding-right: 0pt; ">
                                <P style="margin-left: 0pt; font-size: 1pt; line-height: 1pt; margin-top: 0pt; margin-bottom: 0; margin-right: 0pt; ">&#8203;</P>
                            </TD>
                            <TD style="border-top: 0pt; padding-top: 1pt; border-right: 0pt; border-left: 0pt; padding-left: 0pt; vertical-align: bottom; padding-bottom: 1pt; border-bottom: 0.5pt solid #000000; padding-right: 0pt; ">
                                <P style="margin-left: 0pt; color: #000000; text-indent: 0pt; font-size: 8pt; font-family: Arial, sans-serif; line-height: normal; margin-top: 0; margin-bottom: 0; text-align: center; margin-right: 0pt; "><FONT style="font-weight: bold; "><B>Value</B></FONT></P>
                            </TD>
                            <TD style="border-top: 0pt; padding-top: 0pt; border-right: 0pt; border-left: 0pt; padding-left: 0pt; vertical-align: bottom; padding-bottom: 0pt; border-bottom: 0pt; padding-right: 0pt; ">
                                <P style="margin-left: 0pt; font-size: 1pt; line-height: 1pt; margin-top: 0pt; margin-bottom: 0; margin-right: 0pt; ">&#8203;</P>
                            </TD>
                        </TR>
                        <TR style="min-height: 3pt; ">
                            <TD style="border-top: 0pt; padding-top: 1pt; border-right: 0pt; border-left: 0pt; padding-left: 0pt; vertical-align: top; padding-bottom: 1pt; border-bottom: 0pt; padding-right: 0pt; ">
                                <P style="margin-left: 0pt; color: #000000; font-size: 9pt; font-family: Arial, sans-serif; line-height: normal; margin-top: 0; margin-bottom: 0; text-align: right; margin-right: 0pt; "><FONT>&#160;</FONT></P>
                            </TD>
                            <TD style="border-top: 0pt; padding-top: 0pt; border-right: 0pt; border-left: 0pt; padding-left: 0pt; vertical-align: bottom; padding-bottom: 0pt; border-bottom: 0pt; padding-right: 0pt; ">
                                <P style="margin-left: 0pt; font-size: 1pt; line-height: 1pt; margin-top: 0pt; margin-bottom: 0; margin-right: 0pt; ">&#8203;</P>
                            </TD>
                            <TD style="border-top: 0pt; padding-top: 1pt; border-right: 0pt; border-left: 0pt; padding-left: 0pt; vertical-align: bottom; padding-bottom: 1pt; border-bottom: 0pt; padding-right: 0pt; ">
                                <P style="margin-left: 11.25pt; color: #000000; text-indent: -11.25pt; font-size: 9pt; font-family: Arial, sans-serif; line-height: normal; margin-top: 0; margin-bottom: 0; text-align: left; margin-right: 0pt; "><FONT>First Horizon Corporation:</FONT></P>
                            </TD>
                            <TD style="border-top: 0pt; padding-top: 0pt; border-right: 0pt; border-left: 0pt; padding-left: 0pt; vertical-align: bottom; padding-bottom: 0pt; border-bottom: 0pt; padding-right: 0pt; ">
                                <P style="margin-left: 0pt; font-size: 1pt; line-height: 1pt; margin-top: 0pt; margin-bottom: 0; margin-right: 0pt; ">&#8203;</P>
                            </TD>
                            <TD style="border-top: 0pt; padding-top: 0pt; border-right: 0pt; border-left: 0pt; padding-left: 0pt; vertical-align: bottom; padding-bottom: 0pt; border-bottom: 0pt; padding-right: 0pt; ">
                                <P style="margin-left: 0pt; font-size: 1pt; line-height: 1pt; margin-top: 0pt; margin-bottom: 0; margin-right: 0pt; ">&#8203;</P>
                            </TD>
                        </TR>
                        <TR style="min-height: 3pt; ">
                            <TD style="background-color: #cceeff; border-top: 0pt; padding-top: 1pt; border-right: 0pt; border-left: 0pt; padding-left: 0pt; vertical-align: top; padding-bottom: 1pt; border-bottom: 0pt; padding-right: 0pt; ">
                                <P style="margin-left: 0pt; color: #000000; font-size: 9pt; font-family: Arial, sans-serif; line-height: normal; margin-top: 0; margin-bottom: 0; text-align: right; margin-right: 0pt; "><FONT>15,600</FONT></P>
                            </TD>
                            <TD style="background-color: #cceeff; border-top: 0pt; padding-top: 0pt; border-right: 0pt; border-left: 0pt; padding-left: 0pt; vertical-align: bottom; padding-bottom: 0pt; border-bottom: 0pt; padding-right: 0pt; ">
                                <P style="margin-left: 0pt; font-size: 1pt; line-height: 1pt; margin-top: 0pt; margin-bottom: 0; margin-right: 0pt; ">&#8203;</P>
                            </TD>
                            <TD style="background-color: #cceeff; border-top: 0pt; padding-top: 1pt; border-right: 0pt; border-left: 0pt; padding-left: 0pt; vertical-align: bottom; padding-bottom: 1pt; border-bottom: 0pt; padding-right: 0pt; ">
                                <P style="margin-left: 22.5pt; color: #000000; text-indent: -11.25pt; font-size: 9pt; font-family: Arial, sans-serif; line-height: normal; margin-top: 0; margin-bottom: 0; text-align: left; margin-right: 0pt; "><FONT>6.50%, Series E </FONT></P>
                            </TD>
                            <TD style="background-color: #cceeff; border-top: 0pt; padding-top: 1pt; border-right: 0pt; border-left: 0pt; padding-left: 0pt; vertical-align: bottom; padding-bottom: 1pt; border-bottom: 0pt; padding-right: 0pt; ">
                                <P style="margin-left: 0pt; color: #000000; font-size: 9pt; font-family: Arial, sans-serif; line-height: normal; margin-top: 0; margin-bottom: 0; text-align: right; margin-right: 0pt; "><FONT style="float: left; "><FONT>$</FONT></FONT><FONT style="float: right; "><A name="pfd-nportex_083125a1138"></A><FONT>&#160;384,852</FONT></FONT><FONT style="font-size: 9pt; ">&#8203;</FONT>                                    <BR clear="all"></P>
                            </TD>
                            <TD style="background-color: #cceeff; border-top: 0pt; padding-top: 1pt; border-right: 0pt; border-left: 0pt; padding-left: 0pt; vertical-align: bottom; padding-bottom: 1pt; border-bottom: 0pt; padding-right: 0pt; ">
                                <P style="margin-left: 0pt; color: #000000; text-indent: 0pt; font-size: 9pt; font-family: Arial, sans-serif; line-height: normal; margin-top: 0; margin-bottom: 0; text-align: left; margin-right: 0pt; "><FONT>*</FONT><SUP style="font-size: 7.0pt; line-height: 7.0pt; ">(1)</SUP><FONT>&#160;</FONT></P>
                            </TD>
                        </TR>
                        <TR style="min-height: 3pt; ">
                            <TD style="border-top: 0pt; padding-top: 1pt; border-right: 0pt; border-left: 0pt; padding-left: 0pt; vertical-align: top; padding-bottom: 1pt; border-bottom: 0pt; padding-right: 0pt; ">
                                <P style="margin-left: 0pt; color: #000000; font-size: 9pt; font-family: Arial, sans-serif; line-height: normal; margin-top: 0; margin-bottom: 0; text-align: right; margin-right: 0pt; "><FONT>1</FONT></P>
                            </TD>
                            <TD style="border-top: 0pt; padding-top: 0pt; border-right: 0pt; border-left: 0pt; padding-left: 0pt; vertical-align: bottom; padding-bottom: 0pt; border-bottom: 0pt; padding-right: 0pt; ">
                                <P style="margin-left: 0pt; font-size: 1pt; line-height: 1pt; margin-top: 0pt; margin-bottom: 0; margin-right: 0pt; ">&#8203;</P>
                            </TD>
                            <TD style="border-top: 0pt; padding-top: 1pt; border-right: 0pt; border-left: 0pt; padding-left: 0pt; vertical-align: bottom; padding-bottom: 1pt; border-bottom: 0pt; padding-right: 0pt; ">
                                <P style="margin-left: 22.5pt; color: #000000; text-indent: -11.25pt; font-size: 9pt; font-family: Arial, sans-serif; line-height: normal; margin-top: 0; margin-bottom: 0; text-align: left; margin-right: 0pt; "><FONT>FT Real Estate Securities Company, 9.50% 03/31/31, Series B, 144A**** </FONT></P>
                            </TD>
                            <TD style="border-top: 0pt; padding-top: 1pt; border-right: 0pt; border-left: 0pt; padding-left: 0pt; vertical-align: bottom; padding-bottom: 1pt; border-bottom: 0pt; padding-right: 0pt; ">
                                <P style="margin-left: 0pt; color: #000000; font-size: 9pt; font-family: Arial, sans-serif; line-height: normal; margin-top: 0; margin-bottom: 0; text-align: right; margin-right: 0pt; "><A name="pfd-nportex_083125a1139"></A><FONT>&#160;1,144,000</FONT></P>
                            </TD>
                            <TD style="border-top: 0pt; padding-top: 0pt; border-right: 0pt; border-left: 0pt; padding-left: 0pt; vertical-align: bottom; padding-bottom: 0pt; border-bottom: 0pt; padding-right: 0pt; ">
                                <P style="margin-left: 0pt; font-size: 1pt; line-height: 1pt; margin-top: 0pt; margin-bottom: 0; margin-right: 0pt; ">&#8203;</P>
                            </TD>
                        </TR>
                        <TR style="min-height: 3pt; ">
                            <TD style="background-color: #cceeff; border-top: 0pt; padding-top: 1pt; border-right: 0pt; border-left: 0pt; padding-left: 0pt; vertical-align: top; padding-bottom: 1pt; border-bottom: 0pt; padding-right: 0pt; ">
                                <P style="margin-left: 0pt; color: #000000; font-size: 9pt; font-family: Arial, sans-serif; line-height: normal; margin-top: 0; margin-bottom: 0; text-align: right; margin-right: 0pt; "><FONT>795</FONT></P>
                            </TD>
                            <TD style="background-color: #cceeff; border-top: 0pt; padding-top: 0pt; border-right: 0pt; border-left: 0pt; padding-left: 0pt; vertical-align: bottom; padding-bottom: 0pt; border-bottom: 0pt; padding-right: 0pt; ">
                                <P style="margin-left: 0pt; font-size: 1pt; line-height: 1pt; margin-top: 0pt; margin-bottom: 0; margin-right: 0pt; ">&#8203;</P>
                            </TD>
                            <TD style="background-color: #cceeff; border-top: 0pt; padding-top: 1pt; border-right: 0pt; border-left: 0pt; padding-left: 0pt; vertical-align: bottom; padding-bottom: 1pt; border-bottom: 0pt; padding-right: 0pt; ">
                                <P style="margin-left: 22.5pt; color: #000000; text-indent: -11.25pt; font-size: 9pt; font-family: Arial, sans-serif; line-height: normal; margin-top: 0; margin-bottom: 0; text-align: left; margin-right: 0pt; "><FONT>First Horizon Bank, TSFR3M + 1.11161%, min 3.75%, 5.44009%</FONT><SUP style="font-size: 7.0pt; line-height: 7.0pt; ">(4)</SUP><FONT>, <br>Series A, 144A**** </FONT></P>
                            </TD>
                            <TD style="background-color: #cceeff; border-top: 0pt; padding-top: 1pt; border-right: 0pt; border-left: 0pt; padding-left: 0pt; vertical-align: bottom; padding-bottom: 1pt; border-bottom: 0pt; padding-right: 0pt; ">
                                <P style="margin-left: 0pt; color: #000000; font-size: 9pt; font-family: Arial, sans-serif; line-height: normal; margin-top: 0; margin-bottom: 0; text-align: right; margin-right: 0pt; "><A name="pfd-nportex_083125a1140"></A><FONT>&#160;612,150</FONT></P>
                            </TD>
                            <TD style="background-color: #cceeff; border-top: 0pt; padding-top: 1pt; border-right: 0pt; border-left: 0pt; padding-left: 0pt; vertical-align: bottom; padding-bottom: 1pt; border-bottom: 0pt; padding-right: 0pt; ">
                                <P style="margin-left: 0pt; color: #000000; text-indent: 0pt; font-size: 9pt; font-family: Arial, sans-serif; line-height: normal; margin-top: 0; margin-bottom: 0; text-align: left; margin-right: 0pt; "><FONT>*</FONT><SUP style="font-size: 7.0pt; line-height: 7.0pt; ">(1)</SUP><FONT>&#160;</FONT></P>
                            </TD>
                        </TR>
                        <TR style="min-height: 3pt; ">
                            <TD style="border-top: 0pt; padding-top: 1pt; border-right: 0pt; border-left: 0pt; padding-left: 0pt; vertical-align: top; padding-bottom: 1pt; border-bottom: 0pt; padding-right: 0pt; ">
                                <P style="margin-left: 0pt; color: #000000; font-size: 9pt; font-family: Arial, sans-serif; line-height: normal; margin-top: 0; margin-bottom: 0; text-align: right; margin-right: 0pt; "><FONT>183,628</FONT></P>
                            </TD>
                            <TD style="border-top: 0pt; padding-top: 0pt; border-right: 0pt; border-left: 0pt; padding-left: 0pt; vertical-align: bottom; padding-bottom: 0pt; border-bottom: 0pt; padding-right: 0pt; ">
                                <P style="margin-left: 0pt; font-size: 1pt; line-height: 1pt; margin-top: 0pt; margin-bottom: 0; margin-right: 0pt; ">&#8203;</P>
                            </TD>
                            <TD style="border-top: 0pt; padding-top: 1pt; border-right: 0pt; border-left: 0pt; padding-left: 0pt; vertical-align: bottom; padding-bottom: 1pt; border-bottom: 0pt; padding-right: 0pt; ">
                                <P style="margin-left: 11.25pt; color: #000000; text-indent: -11.25pt; font-size: 9pt; font-family: Arial, sans-serif; line-height: normal; margin-top: 0; margin-bottom: 0; text-align: left; margin-right: 0pt; "><FONT>Flagstar Financial, 6.375% to 03/17/27 then 3ML + 3.821%, Series A </FONT></P>
                            </TD>
                            <TD style="border-top: 0pt; padding-top: 1pt; border-right: 0pt; border-left: 0pt; padding-left: 0pt; vertical-align: bottom; padding-bottom: 1pt; border-bottom: 0pt; padding-right: 0pt; ">
                                <P style="margin-left: 0pt; color: #000000; font-size: 9pt; font-family: Arial, sans-serif; line-height: normal; margin-top: 0; margin-bottom: 0; text-align: right; margin-right: 0pt; "><A name="pfd-nportex_083125a1141"></A><FONT>&#160;3,970,037</FONT></P>
                            </TD>
                            <TD style="border-top: 0pt; padding-top: 1pt; border-right: 0pt; border-left: 0pt; padding-left: 0pt; vertical-align: bottom; padding-bottom: 1pt; border-bottom: 0pt; padding-right: 0pt; ">
                                <P style="margin-left: 0pt; color: #000000; text-indent: 0pt; font-size: 9pt; font-family: Arial, sans-serif; line-height: normal; margin-top: 0; margin-bottom: 0; text-align: left; margin-right: 0pt; "><FONT>*</FONT><SUP style="font-size: 7.0pt; line-height: 7.0pt; ">(1)(2)</SUP><FONT>&#160;</FONT></P>
                            </TD>
                        </TR>
                        <TR style="min-height: 3pt; ">
                            <TD style="background-color: #cceeff; border-top: 0pt; padding-top: 1pt; border-right: 0pt; border-left: 0pt; padding-left: 0pt; vertical-align: top; padding-bottom: 1pt; border-bottom: 0pt; padding-right: 0pt; ">
                                <P style="margin-left: 0pt; color: #000000; font-size: 9pt; font-family: Arial, sans-serif; line-height: normal; margin-top: 0; margin-bottom: 0; text-align: right; margin-right: 0pt; "><FONT>8,300</FONT></P>
                            </TD>
                            <TD style="background-color: #cceeff; border-top: 0pt; padding-top: 0pt; border-right: 0pt; border-left: 0pt; padding-left: 0pt; vertical-align: bottom; padding-bottom: 0pt; border-bottom: 0pt; padding-right: 0pt; ">
                                <P style="margin-left: 0pt; font-size: 1pt; line-height: 1pt; margin-top: 0pt; margin-bottom: 0; margin-right: 0pt; ">&#8203;</P>
                            </TD>
                            <TD style="background-color: #cceeff; border-top: 0pt; padding-top: 1pt; border-right: 0pt; border-left: 0pt; padding-left: 0pt; vertical-align: bottom; padding-bottom: 1pt; border-bottom: 0pt; padding-right: 0pt; ">
                                <P style="margin-left: 11.25pt; color: #000000; text-indent: -11.25pt; font-size: 9pt; font-family: Arial, sans-serif; line-height: normal; margin-top: 0; margin-bottom: 0; text-align: left; margin-right: 0pt; "><FONT>Fulton Financial Corporation, 5.125%, Series A </FONT></P>
                            </TD>
                            <TD style="background-color: #cceeff; border-top: 0pt; padding-top: 1pt; border-right: 0pt; border-left: 0pt; padding-left: 0pt; vertical-align: bottom; padding-bottom: 1pt; border-bottom: 0pt; padding-right: 0pt; ">
                                <P style="margin-left: 0pt; color: #000000; font-size: 9pt; font-family: Arial, sans-serif; line-height: normal; margin-top: 0; margin-bottom: 0; text-align: right; margin-right: 0pt; "><A name="pfd-nportex_083125a1142"></A><FONT>&#160;162,348</FONT></P>
                            </TD>
                            <TD style="background-color: #cceeff; border-top: 0pt; padding-top: 1pt; border-right: 0pt; border-left: 0pt; padding-left: 0pt; vertical-align: bottom; padding-bottom: 1pt; border-bottom: 0pt; padding-right: 0pt; ">
                                <P style="margin-left: 0pt; color: #000000; text-indent: 0pt; font-size: 9pt; font-family: Arial, sans-serif; line-height: normal; margin-top: 0; margin-bottom: 0; text-align: left; margin-right: 0pt; "><FONT>*</FONT><SUP style="font-size: 7.0pt; line-height: 7.0pt; ">(1)</SUP><FONT>&#160;</FONT></P>
                            </TD>
                        </TR>
                        <TR style="min-height: 3pt; ">
                            <TD style="border-top: 0pt; padding-top: 1pt; border-right: 0pt; border-left: 0pt; padding-left: 0pt; vertical-align: top; padding-bottom: 1pt; border-bottom: 0pt; padding-right: 0pt; ">
                                <P style="margin-left: 0pt; color: #000000; font-size: 9pt; font-family: Arial, sans-serif; line-height: normal; margin-top: 0; margin-bottom: 0; text-align: right; margin-right: 0pt; "><FONT>&#160;</FONT></P>
                            </TD>
                            <TD style="border-top: 0pt; padding-top: 0pt; border-right: 0pt; border-left: 0pt; padding-left: 0pt; vertical-align: bottom; padding-bottom: 0pt; border-bottom: 0pt; padding-right: 0pt; ">
                                <P style="margin-left: 0pt; font-size: 1pt; line-height: 1pt; margin-top: 0pt; margin-bottom: 0; margin-right: 0pt; ">&#8203;</P>
                            </TD>
                            <TD style="border-top: 0pt; padding-top: 1pt; border-right: 0pt; border-left: 0pt; padding-left: 0pt; vertical-align: bottom; padding-bottom: 1pt; border-bottom: 0pt; padding-right: 0pt; ">
                                <P style="margin-left: 11.25pt; color: #000000; text-indent: -11.25pt; font-size: 9pt; font-family: Arial, sans-serif; line-height: normal; margin-top: 0; margin-bottom: 0; text-align: left; margin-right: 0pt; "><FONT>Goldman Sachs Group:</FONT></P>
                            </TD>
                            <TD style="border-top: 0pt; padding-top: 0pt; border-right: 0pt; border-left: 0pt; padding-left: 0pt; vertical-align: bottom; padding-bottom: 0pt; border-bottom: 0pt; padding-right: 0pt; ">
                                <P style="margin-left: 0pt; font-size: 1pt; line-height: 1pt; margin-top: 0pt; margin-bottom: 0; margin-right: 0pt; ">&#8203;</P>
                            </TD>
                            <TD style="border-top: 0pt; padding-top: 0pt; border-right: 0pt; border-left: 0pt; padding-left: 0pt; vertical-align: bottom; padding-bottom: 0pt; border-bottom: 0pt; padding-right: 0pt; ">
                                <P style="margin-left: 0pt; font-size: 1pt; line-height: 1pt; margin-top: 0pt; margin-bottom: 0; margin-right: 0pt; ">&#8203;</P>
                            </TD>
                        </TR>
                        <TR style="min-height: 3pt; ">
                            <TD style="background-color: #cceeff; border-top: 0pt; padding-top: 1pt; border-right: 0pt; border-left: 0pt; padding-left: 0pt; vertical-align: top; padding-bottom: 1pt; border-bottom: 0pt; padding-right: 0pt; ">
                                <P style="margin-left: 0pt; color: #000000; font-size: 9pt; font-family: Arial, sans-serif; line-height: normal; margin-top: 0; margin-bottom: 0; text-align: right; margin-right: 0pt; "><FONT style="float: left; "><FONT>$</FONT></FONT><FONT style="float: right; "><FONT>640,000</FONT></FONT><FONT style="font-size: 9pt; ">&#8203;</FONT>                                    <BR clear="all"></P>
                            </TD>
                            <TD style="background-color: #cceeff; border-top: 0pt; padding-top: 0pt; border-right: 0pt; border-left: 0pt; padding-left: 0pt; vertical-align: bottom; padding-bottom: 0pt; border-bottom: 0pt; padding-right: 0pt; ">
                                <P style="margin-left: 0pt; font-size: 1pt; line-height: 1pt; margin-top: 0pt; margin-bottom: 0; margin-right: 0pt; ">&#8203;</P>
                            </TD>
                            <TD style="background-color: #cceeff; border-top: 0pt; padding-top: 1pt; border-right: 0pt; border-left: 0pt; padding-left: 0pt; vertical-align: bottom; padding-bottom: 1pt; border-bottom: 0pt; padding-right: 0pt; ">
                                <P style="margin-left: 22.5pt; color: #000000; text-indent: -11.25pt; font-size: 9pt; font-family: Arial, sans-serif; line-height: normal; margin-top: 0; margin-bottom: 0; text-align: left; margin-right: 0pt; "><FONT>6.125% to 11/10/34 then T10Y + 2.40%, Series Y </FONT></P>
                            </TD>
                            <TD style="background-color: #cceeff; border-top: 0pt; padding-top: 1pt; border-right: 0pt; border-left: 0pt; padding-left: 0pt; vertical-align: bottom; padding-bottom: 1pt; border-bottom: 0pt; padding-right: 0pt; ">
                                <P style="margin-left: 0pt; color: #000000; font-size: 9pt; font-family: Arial, sans-serif; line-height: normal; margin-top: 0; margin-bottom: 0; text-align: right; margin-right: 0pt; "><FONT>642,682</FONT></P>
                            </TD>
                            <TD style="background-color: #cceeff; border-top: 0pt; padding-top: 1pt; border-right: 0pt; border-left: 0pt; padding-left: 0pt; vertical-align: bottom; padding-bottom: 1pt; border-bottom: 0pt; padding-right: 0pt; ">
                                <P style="margin-left: 0pt; color: #000000; text-indent: 0pt; font-size: 9pt; font-family: Arial, sans-serif; line-height: normal; margin-top: 0; margin-bottom: 0; text-align: left; margin-right: 0pt; "><FONT>*</FONT><SUP style="font-size: 7.0pt; line-height: 7.0pt; ">(1)</SUP><FONT>&#160;</FONT></P>
                            </TD>
                        </TR>
                        <TR style="min-height: 3pt; ">
                            <TD style="border-top: 0pt; padding-top: 1pt; border-right: 0pt; border-left: 0pt; padding-left: 0pt; vertical-align: top; padding-bottom: 1pt; border-bottom: 0pt; padding-right: 0pt; ">
                                <P style="margin-left: 0pt; color: #000000; font-size: 9pt; font-family: Arial, sans-serif; line-height: normal; margin-top: 0; margin-bottom: 0; text-align: right; margin-right: 0pt; "><FONT style="float: left; "><FONT>$</FONT></FONT><FONT style="float: right; "><FONT>400,000</FONT></FONT><FONT style="font-size: 9pt; ">&#8203;</FONT>                                    <BR clear="all"></P>
                            </TD>
                            <TD style="border-top: 0pt; padding-top: 0pt; border-right: 0pt; border-left: 0pt; padding-left: 0pt; vertical-align: bottom; padding-bottom: 0pt; border-bottom: 0pt; padding-right: 0pt; ">
                                <P style="margin-left: 0pt; font-size: 1pt; line-height: 1pt; margin-top: 0pt; margin-bottom: 0; margin-right: 0pt; ">&#8203;</P>
                            </TD>
                            <TD style="border-top: 0pt; padding-top: 1pt; border-right: 0pt; border-left: 0pt; padding-left: 0pt; vertical-align: bottom; padding-bottom: 1pt; border-bottom: 0pt; padding-right: 0pt; ">
                                <P style="margin-left: 22.5pt; color: #000000; text-indent: -11.25pt; font-size: 9pt; font-family: Arial, sans-serif; line-height: normal; margin-top: 0; margin-bottom: 0; text-align: left; margin-right: 0pt; "><FONT>6.85% to 02/10/30 then T5Y + 2.461%, Series Z </FONT></P>
                            </TD>
                            <TD style="border-top: 0pt; padding-top: 1pt; border-right: 0pt; border-left: 0pt; padding-left: 0pt; vertical-align: bottom; padding-bottom: 1pt; border-bottom: 0pt; padding-right: 0pt; ">
                                <P style="margin-left: 0pt; color: #000000; font-size: 9pt; font-family: Arial, sans-serif; line-height: normal; margin-top: 0; margin-bottom: 0; text-align: right; margin-right: 0pt; "><A name="pfd-nportex_083125a1145"></A><FONT>&#160;412,949</FONT></P>
                            </TD>
                            <TD style="border-top: 0pt; padding-top: 1pt; border-right: 0pt; border-left: 0pt; padding-left: 0pt; vertical-align: bottom; padding-bottom: 1pt; border-bottom: 0pt; padding-right: 0pt; ">
                                <P style="margin-left: 0pt; color: #000000; text-indent: 0pt; font-size: 9pt; font-family: Arial, sans-serif; line-height: normal; margin-top: 0; margin-bottom: 0; text-align: left; margin-right: 0pt; "><FONT>*</FONT><SUP style="font-size: 7.0pt; line-height: 7.0pt; ">(1)</SUP><FONT>&#160;</FONT></P>
                            </TD>
                        </TR>
                        <TR style="min-height: 3pt; ">
                            <TD style="background-color: #cceeff; border-top: 0pt; padding-top: 1pt; border-right: 0pt; border-left: 0pt; padding-left: 0pt; vertical-align: top; padding-bottom: 1pt; border-bottom: 0pt; padding-right: 0pt; ">
                                <P style="margin-left: 0pt; color: #000000; font-size: 9pt; font-family: Arial, sans-serif; line-height: normal; margin-top: 0; margin-bottom: 0; text-align: right; margin-right: 0pt; "><FONT style="float: left; "><FONT>$</FONT></FONT><FONT style="float: right; "><FONT>600,000</FONT></FONT><FONT style="font-size: 9pt; ">&#8203;</FONT>                                    <BR clear="all"></P>
                            </TD>
                            <TD style="background-color: #cceeff; border-top: 0pt; padding-top: 0pt; border-right: 0pt; border-left: 0pt; padding-left: 0pt; vertical-align: bottom; padding-bottom: 0pt; border-bottom: 0pt; padding-right: 0pt; ">
                                <P style="margin-left: 0pt; font-size: 1pt; line-height: 1pt; margin-top: 0pt; margin-bottom: 0; margin-right: 0pt; ">&#8203;</P>
                            </TD>
                            <TD style="background-color: #cceeff; border-top: 0pt; padding-top: 1pt; border-right: 0pt; border-left: 0pt; padding-left: 0pt; vertical-align: bottom; padding-bottom: 1pt; border-bottom: 0pt; padding-right: 0pt; ">
                                <P style="margin-left: 22.5pt; color: #000000; text-indent: -11.25pt; font-size: 9pt; font-family: Arial, sans-serif; line-height: normal; margin-top: 0; margin-bottom: 0; text-align: left; margin-right: 0pt; "><FONT>7.379% to 08/10/29 then T5Y + 3.623%, Series Q </FONT></P>
                            </TD>
                            <TD style="background-color: #cceeff; border-top: 0pt; padding-top: 1pt; border-right: 0pt; border-left: 0pt; padding-left: 0pt; vertical-align: bottom; padding-bottom: 1pt; border-bottom: 0pt; padding-right: 0pt; ">
                                <P style="margin-left: 0pt; color: #000000; font-size: 9pt; font-family: Arial, sans-serif; line-height: normal; margin-top: 0; margin-bottom: 0; text-align: right; margin-right: 0pt; "><A name="pfd-nportex_083125a1146"></A><FONT>&#160;604,121</FONT></P>
                            </TD>
                            <TD style="background-color: #cceeff; border-top: 0pt; padding-top: 1pt; border-right: 0pt; border-left: 0pt; padding-left: 0pt; vertical-align: bottom; padding-bottom: 1pt; border-bottom: 0pt; padding-right: 0pt; ">
                                <P style="margin-left: 0pt; color: #000000; text-indent: 0pt; font-size: 9pt; font-family: Arial, sans-serif; line-height: normal; margin-top: 0; margin-bottom: 0; text-align: left; margin-right: 0pt; "><FONT>*</FONT><SUP style="font-size: 7.0pt; line-height: 7.0pt; ">(1)(2)</SUP><FONT>&#160;</FONT></P>
                            </TD>
                        </TR>
                        <TR style="min-height: 3pt; ">
                            <TD style="border-top: 0pt; padding-top: 1pt; border-right: 0pt; border-left: 0pt; padding-left: 0pt; vertical-align: top; padding-bottom: 1pt; border-bottom: 0pt; padding-right: 0pt; ">
                                <P style="margin-left: 0pt; color: #000000; font-size: 9pt; font-family: Arial, sans-serif; line-height: normal; margin-top: 0; margin-bottom: 0; text-align: right; margin-right: 0pt; "><FONT style="float: left; "><FONT>$</FONT></FONT><FONT style="float: right; "><FONT>325,000</FONT></FONT><FONT style="font-size: 9pt; ">&#8203;</FONT>                                    <BR clear="all"></P>
                            </TD>
                            <TD style="border-top: 0pt; padding-top: 0pt; border-right: 0pt; border-left: 0pt; padding-left: 0pt; vertical-align: bottom; padding-bottom: 0pt; border-bottom: 0pt; padding-right: 0pt; ">
                                <P style="margin-left: 0pt; font-size: 1pt; line-height: 1pt; margin-top: 0pt; margin-bottom: 0; margin-right: 0pt; ">&#8203;</P>
                            </TD>
                            <TD style="border-top: 0pt; padding-top: 1pt; border-right: 0pt; border-left: 0pt; padding-left: 0pt; vertical-align: bottom; padding-bottom: 1pt; border-bottom: 0pt; padding-right: 0pt; ">
                                <P style="margin-left: 22.5pt; color: #000000; text-indent: -11.25pt; font-size: 9pt; font-family: Arial, sans-serif; line-height: normal; margin-top: 0; margin-bottom: 0; text-align: left; margin-right: 0pt; "><FONT>7.50% to 02/10/29 then T5Y + 3.156%, Series W </FONT></P>
                            </TD>
                            <TD style="border-top: 0pt; padding-top: 1pt; border-right: 0pt; border-left: 0pt; padding-left: 0pt; vertical-align: bottom; padding-bottom: 1pt; border-bottom: 0pt; padding-right: 0pt; ">
                                <P style="margin-left: 0pt; color: #000000; font-size: 9pt; font-family: Arial, sans-serif; line-height: normal; margin-top: 0; margin-bottom: 0; text-align: right; margin-right: 0pt; "><A name="pfd-nportex_083125a1147"></A><FONT>&#160;345,433</FONT></P>
                            </TD>
                            <TD style="border-top: 0pt; padding-top: 1pt; border-right: 0pt; border-left: 0pt; padding-left: 0pt; vertical-align: bottom; padding-bottom: 1pt; border-bottom: 0pt; padding-right: 0pt; ">
                                <P style="margin-left: 0pt; color: #000000; text-indent: 0pt; font-size: 9pt; font-family: Arial, sans-serif; line-height: normal; margin-top: 0; margin-bottom: 0; text-align: left; margin-right: 0pt; "><FONT>*</FONT><SUP style="font-size: 7.0pt; line-height: 7.0pt; ">(1)</SUP><FONT>&#160;</FONT></P>
                            </TD>
                        </TR>
                        <TR style="min-height: 3pt; ">
                            <TD style="background-color: #cceeff; border-top: 0pt; padding-top: 1pt; border-right: 0pt; border-left: 0pt; padding-left: 0pt; vertical-align: top; padding-bottom: 1pt; border-bottom: 0pt; padding-right: 0pt; ">
                                <P style="margin-left: 0pt; color: #000000; font-size: 9pt; font-family: Arial, sans-serif; line-height: normal; margin-top: 0; margin-bottom: 0; text-align: right; margin-right: 0pt; "><FONT style="float: left; "><FONT>$</FONT></FONT><FONT style="float: right; "><FONT>1,275,000</FONT></FONT><FONT style="font-size: 9pt; ">&#8203;</FONT>                                    <BR clear="all"></P>
                            </TD>
                            <TD style="background-color: #cceeff; border-top: 0pt; padding-top: 0pt; border-right: 0pt; border-left: 0pt; padding-left: 0pt; vertical-align: bottom; padding-bottom: 0pt; border-bottom: 0pt; padding-right: 0pt; ">
                                <P style="margin-left: 0pt; font-size: 1pt; line-height: 1pt; margin-top: 0pt; margin-bottom: 0; margin-right: 0pt; ">&#8203;</P>
                            </TD>
                            <TD style="background-color: #cceeff; border-top: 0pt; padding-top: 1pt; border-right: 0pt; border-left: 0pt; padding-left: 0pt; vertical-align: bottom; padding-bottom: 1pt; border-bottom: 0pt; padding-right: 0pt; ">
                                <P style="margin-left: 22.5pt; color: #000000; text-indent: -11.25pt; font-size: 9pt; font-family: Arial, sans-serif; line-height: normal; margin-top: 0; margin-bottom: 0; text-align: left; margin-right: 0pt; "><FONT>7.50% to 05/10/29 then T5Y + 2.809%, Series X </FONT></P>
                            </TD>
                            <TD style="background-color: #cceeff; border-top: 0pt; padding-top: 1pt; border-right: 0pt; border-left: 0pt; padding-left: 0pt; vertical-align: bottom; padding-bottom: 1pt; border-bottom: 0pt; padding-right: 0pt; ">
                                <P style="margin-left: 0pt; color: #000000; font-size: 9pt; font-family: Arial, sans-serif; line-height: normal; margin-top: 0; margin-bottom: 0; text-align: right; margin-right: 0pt; "><A name="pfd-nportex_083125a1148"></A><FONT>&#160;1,341,600</FONT></P>
                            </TD>
                            <TD style="background-color: #cceeff; border-top: 0pt; padding-top: 1pt; border-right: 0pt; border-left: 0pt; padding-left: 0pt; vertical-align: bottom; padding-bottom: 1pt; border-bottom: 0pt; padding-right: 0pt; ">
                                <P style="margin-left: 0pt; color: #000000; text-indent: 0pt; font-size: 9pt; font-family: Arial, sans-serif; line-height: normal; margin-top: 0; margin-bottom: 0; text-align: left; margin-right: 0pt; "><FONT>*</FONT><SUP style="font-size: 7.0pt; line-height: 7.0pt; ">(1)(2)(3)</SUP><FONT>&#160;</FONT></P>
                            </TD>
                        </TR>
                        <TR style="min-height: 3pt; ">
                            <TD style="border-top: 0pt; padding-top: 1pt; border-right: 0pt; border-left: 0pt; padding-left: 0pt; vertical-align: top; padding-bottom: 1pt; border-bottom: 0pt; padding-right: 0pt; ">
                                <P style="margin-left: 0pt; color: #000000; font-size: 9pt; font-family: Arial, sans-serif; line-height: normal; margin-top: 0; margin-bottom: 0; text-align: right; margin-right: 0pt; "><FONT style="float: left; "><FONT>$</FONT></FONT><FONT style="float: right; "><FONT>250,000</FONT></FONT><FONT style="font-size: 9pt; ">&#8203;</FONT>                                    <BR clear="all"></P>
                            </TD>
                            <TD style="border-top: 0pt; padding-top: 0pt; border-right: 0pt; border-left: 0pt; padding-left: 0pt; vertical-align: bottom; padding-bottom: 0pt; border-bottom: 0pt; padding-right: 0pt; ">
                                <P style="margin-left: 0pt; font-size: 1pt; line-height: 1pt; margin-top: 0pt; margin-bottom: 0; margin-right: 0pt; ">&#8203;</P>
                            </TD>
                            <TD style="border-top: 0pt; padding-top: 1pt; border-right: 0pt; border-left: 0pt; padding-left: 0pt; vertical-align: bottom; padding-bottom: 1pt; border-bottom: 0pt; padding-right: 0pt; ">
                                <P style="margin-left: 22.5pt; color: #000000; text-indent: -11.25pt; font-size: 9pt; font-family: Arial, sans-serif; line-height: normal; margin-top: 0; margin-bottom: 0; text-align: left; margin-right: 0pt; "><FONT>T5Y + 3.224%, 7.56%</FONT><SUP style="font-size: 7.0pt; line-height: 7.0pt; ">(4)</SUP><FONT>, Series R </FONT></P>
                            </TD>
                            <TD style="border-top: 0pt; padding-top: 1pt; border-right: 0pt; border-left: 0pt; padding-left: 0pt; vertical-align: bottom; padding-bottom: 1pt; border-bottom: 0pt; padding-right: 0pt; ">
                                <P style="margin-left: 0pt; color: #000000; font-size: 9pt; font-family: Arial, sans-serif; line-height: normal; margin-top: 0; margin-bottom: 0; text-align: right; margin-right: 0pt; "><A name="pfd-nportex_083125a1149"></A><FONT>&#160;252,864</FONT></P>
                            </TD>
                            <TD style="border-top: 0pt; padding-top: 1pt; border-right: 0pt; border-left: 0pt; padding-left: 0pt; vertical-align: bottom; padding-bottom: 1pt; border-bottom: 0pt; padding-right: 0pt; ">
                                <P style="margin-left: 0pt; color: #000000; text-indent: 0pt; font-size: 9pt; font-family: Arial, sans-serif; line-height: normal; margin-top: 0; margin-bottom: 0; text-align: left; margin-right: 0pt; "><FONT>*</FONT><SUP style="font-size: 7.0pt; line-height: 7.0pt; ">(1)</SUP><FONT>&#160;</FONT></P>
                            </TD>
                        </TR>
                        <TR style="min-height: 3pt; ">
                            <TD style="background-color: #cceeff; border-top: 0pt; padding-top: 1pt; border-right: 0pt; border-left: 0pt; padding-left: 0pt; vertical-align: top; padding-bottom: 1pt; border-bottom: 0pt; padding-right: 0pt; ">
                                <P style="margin-left: 0pt; color: #000000; font-size: 9pt; font-family: Arial, sans-serif; line-height: normal; margin-top: 0; margin-bottom: 0; text-align: right; margin-right: 0pt; "><FONT>&#160;</FONT></P>
                            </TD>
                            <TD style="background-color: #cceeff; border-top: 0pt; padding-top: 0pt; border-right: 0pt; border-left: 0pt; padding-left: 0pt; vertical-align: bottom; padding-bottom: 0pt; border-bottom: 0pt; padding-right: 0pt; ">
                                <P style="margin-left: 0pt; font-size: 1pt; line-height: 1pt; margin-top: 0pt; margin-bottom: 0; margin-right: 0pt; ">&#8203;</P>
                            </TD>
                            <TD style="background-color: #cceeff; border-top: 0pt; padding-top: 1pt; border-right: 0pt; border-left: 0pt; padding-left: 0pt; vertical-align: bottom; padding-bottom: 1pt; border-bottom: 0pt; padding-right: 0pt; ">
                                <P style="margin-left: 11.25pt; color: #000000; text-indent: -11.25pt; font-size: 9pt; font-family: Arial, sans-serif; line-height: normal; margin-top: 0; margin-bottom: 0; text-align: left; margin-right: 0pt; "><FONT>Huntington Bancshares, Inc.:</FONT></P>
                            </TD>
                            <TD style="background-color: #cceeff; border-top: 0pt; padding-top: 0pt; border-right: 0pt; border-left: 0pt; padding-left: 0pt; vertical-align: bottom; padding-bottom: 0pt; border-bottom: 0pt; padding-right: 0pt; ">
                                <P style="margin-left: 0pt; font-size: 1pt; line-height: 1pt; margin-top: 0pt; margin-bottom: 0; margin-right: 0pt; ">&#8203;</P>
                            </TD>
                            <TD style="background-color: #cceeff; border-top: 0pt; padding-top: 0pt; border-right: 0pt; border-left: 0pt; padding-left: 0pt; vertical-align: bottom; padding-bottom: 0pt; border-bottom: 0pt; padding-right: 0pt; ">
                                <P style="margin-left: 0pt; font-size: 1pt; line-height: 1pt; margin-top: 0pt; margin-bottom: 0; margin-right: 0pt; ">&#8203;</P>
                            </TD>
                        </TR>
                        <TR style="min-height: 3pt; ">
                            <TD style="border-top: 0pt; padding-top: 1pt; border-right: 0pt; border-left: 0pt; padding-left: 0pt; vertical-align: top; padding-bottom: 1pt; border-bottom: 0pt; padding-right: 0pt; ">
                                <P style="margin-left: 0pt; color: #000000; font-size: 9pt; font-family: Arial, sans-serif; line-height: normal; margin-top: 0; margin-bottom: 0; text-align: right; margin-right: 0pt; "><FONT style="float: left; "><FONT>$</FONT></FONT><FONT style="float: right; "><FONT>300,000</FONT></FONT><FONT style="font-size: 9pt; ">&#8203;</FONT>                                    <BR clear="all"></P>
                            </TD>
                            <TD style="border-top: 0pt; padding-top: 0pt; border-right: 0pt; border-left: 0pt; padding-left: 0pt; vertical-align: bottom; padding-bottom: 0pt; border-bottom: 0pt; padding-right: 0pt; ">
                                <P style="margin-left: 0pt; font-size: 1pt; line-height: 1pt; margin-top: 0pt; margin-bottom: 0; margin-right: 0pt; ">&#8203;</P>
                            </TD>
                            <TD style="border-top: 0pt; padding-top: 1pt; border-right: 0pt; border-left: 0pt; padding-left: 0pt; vertical-align: bottom; padding-bottom: 1pt; border-bottom: 0pt; padding-right: 0pt; ">
                                <P style="margin-left: 22.5pt; color: #000000; text-indent: -11.25pt; font-size: 9pt; font-family: Arial, sans-serif; line-height: normal; margin-top: 0; margin-bottom: 0; text-align: left; margin-right: 0pt; "><FONT>4.45% to 10/15/27 then T7Y + 4.045%, Series G </FONT></P>
                            </TD>
                            <TD style="border-top: 0pt; padding-top: 1pt; border-right: 0pt; border-left: 0pt; padding-left: 0pt; vertical-align: bottom; padding-bottom: 1pt; border-bottom: 0pt; padding-right: 0pt; ">
                                <P style="margin-left: 0pt; color: #000000; font-size: 9pt; font-family: Arial, sans-serif; line-height: normal; margin-top: 0; margin-bottom: 0; text-align: right; margin-right: 0pt; "><A name="pfd-nportex_083125a1150"></A><FONT>&#160;296,353</FONT></P>
                            </TD>
                            <TD style="border-top: 0pt; padding-top: 1pt; border-right: 0pt; border-left: 0pt; padding-left: 0pt; vertical-align: bottom; padding-bottom: 1pt; border-bottom: 0pt; padding-right: 0pt; ">
                                <P style="margin-left: 0pt; color: #000000; text-indent: 0pt; font-size: 9pt; font-family: Arial, sans-serif; line-height: normal; margin-top: 0; margin-bottom: 0; text-align: left; margin-right: 0pt; "><FONT>*</FONT><SUP style="font-size: 7.0pt; line-height: 7.0pt; ">(1)</SUP><FONT>&#160;</FONT></P>
                            </TD>
                        </TR>
                        <TR style="min-height: 3pt; ">
                            <TD style="background-color: #cceeff; border-top: 0pt; padding-top: 1pt; border-right: 0pt; border-left: 0pt; padding-left: 0pt; vertical-align: top; padding-bottom: 1pt; border-bottom: 0pt; padding-right: 0pt; ">
                                <P style="margin-left: 0pt; color: #000000; font-size: 9pt; font-family: Arial, sans-serif; line-height: normal; margin-top: 0; margin-bottom: 0; text-align: right; margin-right: 0pt; "><FONT style="float: left; "><FONT>$</FONT></FONT><FONT style="float: right; "><FONT>875,000</FONT></FONT><FONT style="font-size: 9pt; ">&#8203;</FONT>                                    <BR clear="all"></P>
                            </TD>
                            <TD style="background-color: #cceeff; border-top: 0pt; padding-top: 0pt; border-right: 0pt; border-left: 0pt; padding-left: 0pt; vertical-align: bottom; padding-bottom: 0pt; border-bottom: 0pt; padding-right: 0pt; ">
                                <P style="margin-left: 0pt; font-size: 1pt; line-height: 1pt; margin-top: 0pt; margin-bottom: 0; margin-right: 0pt; ">&#8203;</P>
                            </TD>
                            <TD style="background-color: #cceeff; border-top: 0pt; padding-top: 1pt; border-right: 0pt; border-left: 0pt; padding-left: 0pt; vertical-align: bottom; padding-bottom: 1pt; border-bottom: 0pt; padding-right: 0pt; ">
                                <P style="margin-left: 22.5pt; color: #000000; text-indent: -11.25pt; font-size: 9pt; font-family: Arial, sans-serif; line-height: normal; margin-top: 0; margin-bottom: 0; text-align: left; margin-right: 0pt; "><FONT>5.625% to 07/15/30 then T10Y + 4.945%, Series F </FONT></P>
                            </TD>
                            <TD style="background-color: #cceeff; border-top: 0pt; padding-top: 1pt; border-right: 0pt; border-left: 0pt; padding-left: 0pt; vertical-align: bottom; padding-bottom: 1pt; border-bottom: 0pt; padding-right: 0pt; ">
                                <P style="margin-left: 0pt; color: #000000; font-size: 9pt; font-family: Arial, sans-serif; line-height: normal; margin-top: 0; margin-bottom: 0; text-align: right; margin-right: 0pt; "><A name="pfd-nportex_083125a1151"></A><FONT>&#160;894,003</FONT></P>
                            </TD>
                            <TD style="background-color: #cceeff; border-top: 0pt; padding-top: 1pt; border-right: 0pt; border-left: 0pt; padding-left: 0pt; vertical-align: bottom; padding-bottom: 1pt; border-bottom: 0pt; padding-right: 0pt; ">
                                <P style="margin-left: 0pt; color: #000000; text-indent: 0pt; font-size: 9pt; font-family: Arial, sans-serif; line-height: normal; margin-top: 0; margin-bottom: 0; text-align: left; margin-right: 0pt; "><FONT>*</FONT><SUP style="font-size: 7.0pt; line-height: 7.0pt; ">(1)(2)</SUP><FONT>&#160;</FONT></P>
                            </TD>
                        </TR>
                        <TR style="min-height: 3pt; ">
                            <TD style="border-top: 0pt; padding-top: 1pt; border-right: 0pt; border-left: 0pt; padding-left: 0pt; vertical-align: top; padding-bottom: 1pt; border-bottom: 0pt; padding-right: 0pt; ">
                                <P style="margin-left: 0pt; color: #000000; font-size: 9pt; font-family: Arial, sans-serif; line-height: normal; margin-top: 0; margin-bottom: 0; text-align: right; margin-right: 0pt; "><FONT>34,920</FONT></P>
                            </TD>
                            <TD style="border-top: 0pt; padding-top: 0pt; border-right: 0pt; border-left: 0pt; padding-left: 0pt; vertical-align: bottom; padding-bottom: 0pt; border-bottom: 0pt; padding-right: 0pt; ">
                                <P style="margin-left: 0pt; font-size: 1pt; line-height: 1pt; margin-top: 0pt; margin-bottom: 0; margin-right: 0pt; ">&#8203;</P>
                            </TD>
                            <TD style="border-top: 0pt; padding-top: 1pt; border-right: 0pt; border-left: 0pt; padding-left: 0pt; vertical-align: bottom; padding-bottom: 1pt; border-bottom: 0pt; padding-right: 0pt; ">
                                <P style="margin-left: 22.5pt; color: #000000; text-indent: -11.25pt; font-size: 9pt; font-family: Arial, sans-serif; line-height: normal; margin-top: 0; margin-bottom: 0; text-align: left; margin-right: 0pt; "><FONT>6.875% to 04/15/28 then T5Y + 2.704%, Series J </FONT></P>
                            </TD>
                            <TD style="border-top: 0pt; padding-top: 1pt; border-right: 0pt; border-left: 0pt; padding-left: 0pt; vertical-align: bottom; padding-bottom: 1pt; border-bottom: 0pt; padding-right: 0pt; ">
                                <P style="margin-left: 0pt; color: #000000; font-size: 9pt; font-family: Arial, sans-serif; line-height: normal; margin-top: 0; margin-bottom: 0; text-align: right; margin-right: 0pt; "><A name="pfd-nportex_083125a1152"></A><FONT>&#160;884,175</FONT></P>
                            </TD>
                            <TD style="border-top: 0pt; padding-top: 1pt; border-right: 0pt; border-left: 0pt; padding-left: 0pt; vertical-align: bottom; padding-bottom: 1pt; border-bottom: 0pt; padding-right: 0pt; ">
                                <P style="margin-left: 0pt; color: #000000; text-indent: 0pt; font-size: 9pt; font-family: Arial, sans-serif; line-height: normal; margin-top: 0; margin-bottom: 0; text-align: left; margin-right: 0pt; "><FONT>*</FONT><SUP style="font-size: 7.0pt; line-height: 7.0pt; ">(1)(2)</SUP><FONT>&#160;</FONT></P>
                            </TD>
                        </TR>
                        <TR style="min-height: 3pt; ">
                            <TD style="background-color: #cceeff; border-top: 0pt; padding-top: 1pt; border-right: 0pt; border-left: 0pt; padding-left: 0pt; vertical-align: top; padding-bottom: 1pt; border-bottom: 0pt; padding-right: 0pt; ">
                                <P style="margin-left: 0pt; color: #000000; font-size: 9pt; font-family: Arial, sans-serif; line-height: normal; margin-top: 0; margin-bottom: 0; text-align: right; margin-right: 0pt; "><FONT>&#160;</FONT></P>
                            </TD>
                            <TD style="background-color: #cceeff; border-top: 0pt; padding-top: 0pt; border-right: 0pt; border-left: 0pt; padding-left: 0pt; vertical-align: bottom; padding-bottom: 0pt; border-bottom: 0pt; padding-right: 0pt; ">
                                <P style="margin-left: 0pt; font-size: 1pt; line-height: 1pt; margin-top: 0pt; margin-bottom: 0; margin-right: 0pt; ">&#8203;</P>
                            </TD>
                            <TD style="background-color: #cceeff; border-top: 0pt; padding-top: 1pt; border-right: 0pt; border-left: 0pt; padding-left: 0pt; vertical-align: bottom; padding-bottom: 1pt; border-bottom: 0pt; padding-right: 0pt; ">
                                <P style="margin-left: 11.25pt; color: #000000; text-indent: -11.25pt; font-size: 9pt; font-family: Arial, sans-serif; line-height: normal; margin-top: 0; margin-bottom: 0; text-align: left; margin-right: 0pt; "><FONT>JPMorgan Chase &amp; Company:</FONT></P>
                            </TD>
                            <TD style="background-color: #cceeff; border-top: 0pt; padding-top: 0pt; border-right: 0pt; border-left: 0pt; padding-left: 0pt; vertical-align: bottom; padding-bottom: 0pt; border-bottom: 0pt; padding-right: 0pt; ">
                                <P style="margin-left: 0pt; font-size: 1pt; line-height: 1pt; margin-top: 0pt; margin-bottom: 0; margin-right: 0pt; ">&#8203;</P>
                            </TD>
                            <TD style="background-color: #cceeff; border-top: 0pt; padding-top: 0pt; border-right: 0pt; border-left: 0pt; padding-left: 0pt; vertical-align: bottom; padding-bottom: 0pt; border-bottom: 0pt; padding-right: 0pt; ">
                                <P style="margin-left: 0pt; font-size: 1pt; line-height: 1pt; margin-top: 0pt; margin-bottom: 0; margin-right: 0pt; ">&#8203;</P>
                            </TD>
                        </TR>
                        <TR style="min-height: 3pt; ">
                            <TD style="border-top: 0pt; padding-top: 1pt; border-right: 0pt; border-left: 0pt; padding-left: 0pt; vertical-align: top; padding-bottom: 1pt; border-bottom: 0pt; padding-right: 0pt; ">
                                <P style="margin-left: 0pt; color: #000000; font-size: 9pt; font-family: Arial, sans-serif; line-height: normal; margin-top: 0; margin-bottom: 0; text-align: right; margin-right: 0pt; "><FONT style="float: left; "><FONT>$</FONT></FONT><FONT style="float: right; "><FONT>1,825,000</FONT></FONT><FONT style="font-size: 9pt; ">&#8203;</FONT>                                    <BR clear="all"></P>
                            </TD>
                            <TD style="border-top: 0pt; padding-top: 0pt; border-right: 0pt; border-left: 0pt; padding-left: 0pt; vertical-align: bottom; padding-bottom: 0pt; border-bottom: 0pt; padding-right: 0pt; ">
                                <P style="margin-left: 0pt; font-size: 1pt; line-height: 1pt; margin-top: 0pt; margin-bottom: 0; margin-right: 0pt; ">&#8203;</P>
                            </TD>
                            <TD style="border-top: 0pt; padding-top: 1pt; border-right: 0pt; border-left: 0pt; padding-left: 0pt; vertical-align: bottom; padding-bottom: 1pt; border-bottom: 0pt; padding-right: 0pt; ">
                                <P style="margin-left: 22.5pt; color: #000000; text-indent: -11.25pt; font-size: 9pt; font-family: Arial, sans-serif; line-height: normal; margin-top: 0; margin-bottom: 0; text-align: left; margin-right: 0pt; "><FONT>3.65% to 06/01/26 then T5Y + 2.85%, Series KK </FONT></P>
                            </TD>
                            <TD style="border-top: 0pt; padding-top: 1pt; border-right: 0pt; border-left: 0pt; padding-left: 0pt; vertical-align: bottom; padding-bottom: 1pt; border-bottom: 0pt; padding-right: 0pt; ">
                                <P style="margin-left: 0pt; color: #000000; font-size: 9pt; font-family: Arial, sans-serif; line-height: normal; margin-top: 0; margin-bottom: 0; text-align: right; margin-right: 0pt; "><A name="pfd-nportex_083125a1153"></A><FONT>&#160;1,801,334</FONT></P>
                            </TD>
                            <TD style="border-top: 0pt; padding-top: 1pt; border-right: 0pt; border-left: 0pt; padding-left: 0pt; vertical-align: bottom; padding-bottom: 1pt; border-bottom: 0pt; padding-right: 0pt; ">
                                <P style="margin-left: 0pt; color: #000000; text-indent: 0pt; font-size: 9pt; font-family: Arial, sans-serif; line-height: normal; margin-top: 0; margin-bottom: 0; text-align: left; margin-right: 0pt; "><FONT>*</FONT><SUP style="font-size: 7.0pt; line-height: 7.0pt; ">(1)(2)</SUP><FONT>&#160;</FONT></P>
                            </TD>
                        </TR>
                        <TR style="min-height: 3pt; ">
                            <TD style="background-color: #cceeff; border-top: 0pt; padding-top: 1pt; border-right: 0pt; border-left: 0pt; padding-left: 0pt; vertical-align: top; padding-bottom: 1pt; border-bottom: 0pt; padding-right: 0pt; ">
                                <P style="margin-left: 0pt; color: #000000; font-size: 9pt; font-family: Arial, sans-serif; line-height: normal; margin-top: 0; margin-bottom: 0; text-align: right; margin-right: 0pt; "><FONT style="float: left; "><FONT>$</FONT></FONT><FONT style="float: right; "><FONT>1,200,000</FONT></FONT><FONT style="font-size: 9pt; ">&#8203;</FONT>                                    <BR clear="all"></P>
                            </TD>
                            <TD style="background-color: #cceeff; border-top: 0pt; padding-top: 0pt; border-right: 0pt; border-left: 0pt; padding-left: 0pt; vertical-align: bottom; padding-bottom: 0pt; border-bottom: 0pt; padding-right: 0pt; ">
                                <P style="margin-left: 0pt; font-size: 1pt; line-height: 1pt; margin-top: 0pt; margin-bottom: 0; margin-right: 0pt; ">&#8203;</P>
                            </TD>
                            <TD style="background-color: #cceeff; border-top: 0pt; padding-top: 1pt; border-right: 0pt; border-left: 0pt; padding-left: 0pt; vertical-align: bottom; padding-bottom: 1pt; border-bottom: 0pt; padding-right: 0pt; ">
                                <P style="margin-left: 22.5pt; color: #000000; text-indent: -11.25pt; font-size: 9pt; font-family: Arial, sans-serif; line-height: normal; margin-top: 0; margin-bottom: 0; text-align: left; margin-right: 0pt; "><FONT>6.875% to 06/01/29 then T5Y + 2.737%, Series NN </FONT></P>
                            </TD>
                            <TD style="background-color: #cceeff; border-top: 0pt; padding-top: 1pt; border-right: 0pt; border-left: 0pt; padding-left: 0pt; vertical-align: bottom; padding-bottom: 1pt; border-bottom: 0pt; padding-right: 0pt; ">
                                <P style="margin-left: 0pt; color: #000000; font-size: 9pt; font-family: Arial, sans-serif; line-height: normal; margin-top: 0; margin-bottom: 0; text-align: right; margin-right: 0pt; "><A name="pfd-nportex_083125a1154"></A><FONT>&#160;1,263,931</FONT></P>
                            </TD>
                            <TD style="background-color: #cceeff; border-top: 0pt; padding-top: 1pt; border-right: 0pt; border-left: 0pt; padding-left: 0pt; vertical-align: bottom; padding-bottom: 1pt; border-bottom: 0pt; padding-right: 0pt; ">
                                <P style="margin-left: 0pt; color: #000000; text-indent: 0pt; font-size: 9pt; font-family: Arial, sans-serif; line-height: normal; margin-top: 0; margin-bottom: 0; text-align: left; margin-right: 0pt; "><FONT>*</FONT><SUP style="font-size: 7.0pt; line-height: 7.0pt; ">(1)(2)(3)</SUP><FONT>&#160;</FONT></P>
                            </TD>
                        </TR>
                        <TR style="min-height: 3pt; ">
                            <TD style="border-top: 0pt; padding-top: 1pt; border-right: 0pt; border-left: 0pt; padding-left: 0pt; vertical-align: top; padding-bottom: 1pt; border-bottom: 0pt; padding-right: 0pt; ">
                                <P style="margin-left: 0pt; color: #000000; font-size: 9pt; font-family: Arial, sans-serif; line-height: normal; margin-top: 0; margin-bottom: 0; text-align: right; margin-right: 0pt; "><FONT>&#160;</FONT></P>
                            </TD>
                            <TD style="border-top: 0pt; padding-top: 0pt; border-right: 0pt; border-left: 0pt; padding-left: 0pt; vertical-align: bottom; padding-bottom: 0pt; border-bottom: 0pt; padding-right: 0pt; ">
                                <P style="margin-left: 0pt; font-size: 1pt; line-height: 1pt; margin-top: 0pt; margin-bottom: 0; margin-right: 0pt; ">&#8203;</P>
                            </TD>
                            <TD style="border-top: 0pt; padding-top: 1pt; border-right: 0pt; border-left: 0pt; padding-left: 0pt; vertical-align: bottom; padding-bottom: 1pt; border-bottom: 0pt; padding-right: 0pt; ">
                                <P style="margin-left: 11.25pt; color: #000000; text-indent: -11.25pt; font-size: 9pt; font-family: Arial, sans-serif; line-height: normal; margin-top: 0; margin-bottom: 0; text-align: left; margin-right: 0pt; "><FONT>KeyCorp:</FONT></P>
                            </TD>
                            <TD style="border-top: 0pt; padding-top: 0pt; border-right: 0pt; border-left: 0pt; padding-left: 0pt; vertical-align: bottom; padding-bottom: 0pt; border-bottom: 0pt; padding-right: 0pt; ">
                                <P style="margin-left: 0pt; font-size: 1pt; line-height: 1pt; margin-top: 0pt; margin-bottom: 0; margin-right: 0pt; ">&#8203;</P>
                            </TD>
                            <TD style="border-top: 0pt; padding-top: 0pt; border-right: 0pt; border-left: 0pt; padding-left: 0pt; vertical-align: bottom; padding-bottom: 0pt; border-bottom: 0pt; padding-right: 0pt; ">
                                <P style="margin-left: 0pt; font-size: 1pt; line-height: 1pt; margin-top: 0pt; margin-bottom: 0; margin-right: 0pt; ">&#8203;</P>
                            </TD>
                        </TR>
                        <TR style="min-height: 3pt; ">
                            <TD style="background-color: #cceeff; border-top: 0pt; padding-top: 1pt; border-right: 0pt; border-left: 0pt; padding-left: 0pt; vertical-align: top; padding-bottom: 1pt; border-bottom: 0pt; padding-right: 0pt; ">
                                <P style="margin-left: 0pt; color: #000000; font-size: 9pt; font-family: Arial, sans-serif; line-height: normal; margin-top: 0; margin-bottom: 0; text-align: right; margin-right: 0pt; "><FONT>83,910</FONT></P>
                            </TD>
                            <TD style="background-color: #cceeff; border-top: 0pt; padding-top: 0pt; border-right: 0pt; border-left: 0pt; padding-left: 0pt; vertical-align: bottom; padding-bottom: 0pt; border-bottom: 0pt; padding-right: 0pt; ">
                                <P style="margin-left: 0pt; font-size: 1pt; line-height: 1pt; margin-top: 0pt; margin-bottom: 0; margin-right: 0pt; ">&#8203;</P>
                            </TD>
                            <TD style="background-color: #cceeff; border-top: 0pt; padding-top: 1pt; border-right: 0pt; border-left: 0pt; padding-left: 0pt; vertical-align: bottom; padding-bottom: 1pt; border-bottom: 0pt; padding-right: 0pt; ">
                                <P style="margin-left: 22.5pt; color: #000000; text-indent: -11.25pt; font-size: 9pt; font-family: Arial, sans-serif; line-height: normal; margin-top: 0; margin-bottom: 0; text-align: left; margin-right: 0pt; "><FONT>6.125% to 12/15/26 then TSFR3M + 4.15361%, Series E </FONT></P>
                            </TD>
                            <TD style="background-color: #cceeff; border-top: 0pt; padding-top: 1pt; border-right: 0pt; border-left: 0pt; padding-left: 0pt; vertical-align: bottom; padding-bottom: 1pt; border-bottom: 0pt; padding-right: 0pt; ">
                                <P style="margin-left: 0pt; color: #000000; font-size: 9pt; font-family: Arial, sans-serif; line-height: normal; margin-top: 0; margin-bottom: 0; text-align: right; margin-right: 0pt; "><A name="pfd-nportex_083125a1155"></A><FONT>&#160;2,094,394</FONT></P>
                            </TD>
                            <TD style="background-color: #cceeff; border-top: 0pt; padding-top: 1pt; border-right: 0pt; border-left: 0pt; padding-left: 0pt; vertical-align: bottom; padding-bottom: 1pt; border-bottom: 0pt; padding-right: 0pt; ">
                                <P style="margin-left: 0pt; color: #000000; text-indent: 0pt; font-size: 9pt; font-family: Arial, sans-serif; line-height: normal; margin-top: 0; margin-bottom: 0; text-align: left; margin-right: 0pt; "><FONT>*</FONT><SUP style="font-size: 7.0pt; line-height: 7.0pt; ">(1)(2)</SUP><FONT>&#160;</FONT></P>
                            </TD>
                        </TR>
                        <TR style="min-height: 3pt; ">
                            <TD style="border-top: 0pt; padding-top: 1pt; border-right: 0pt; border-left: 0pt; padding-left: 0pt; vertical-align: top; padding-bottom: 1pt; border-bottom: 0pt; padding-right: 0pt; ">
                                <P style="margin-left: 0pt; color: #000000; font-size: 9pt; font-family: Arial, sans-serif; line-height: normal; margin-top: 0; margin-bottom: 0; text-align: right; margin-right: 0pt; "><FONT>67,300</FONT></P>
                            </TD>
                            <TD style="border-top: 0pt; padding-top: 0pt; border-right: 0pt; border-left: 0pt; padding-left: 0pt; vertical-align: bottom; padding-bottom: 0pt; border-bottom: 0pt; padding-right: 0pt; ">
                                <P style="margin-left: 0pt; font-size: 1pt; line-height: 1pt; margin-top: 0pt; margin-bottom: 0; margin-right: 0pt; ">&#8203;</P>
                            </TD>
                            <TD style="border-top: 0pt; padding-top: 1pt; border-right: 0pt; border-left: 0pt; padding-left: 0pt; vertical-align: bottom; padding-bottom: 1pt; border-bottom: 0pt; padding-right: 0pt; ">
                                <P style="margin-left: 22.5pt; color: #000000; text-indent: -11.25pt; font-size: 9pt; font-family: Arial, sans-serif; line-height: normal; margin-top: 0; margin-bottom: 0; text-align: left; margin-right: 0pt; "><FONT>6.20% to 12/15/27 then T5Y + 3.132%, Series H </FONT></P>
                            </TD>
                            <TD style="border-top: 0pt; padding-top: 1pt; border-right: 0pt; border-left: 0pt; padding-left: 0pt; vertical-align: bottom; padding-bottom: 1pt; border-bottom: 0pt; padding-right: 0pt; ">
                                <P style="margin-left: 0pt; color: #000000; font-size: 9pt; font-family: Arial, sans-serif; line-height: normal; margin-top: 0; margin-bottom: 0; text-align: right; margin-right: 0pt; "><A name="pfd-nportex_083125a1156"></A><FONT>&#160;1,669,040</FONT></P>
                            </TD>
                            <TD style="border-top: 0pt; padding-top: 1pt; border-right: 0pt; border-left: 0pt; padding-left: 0pt; vertical-align: bottom; padding-bottom: 1pt; border-bottom: 0pt; padding-right: 0pt; ">
                                <P style="margin-left: 0pt; color: #000000; text-indent: 0pt; font-size: 9pt; font-family: Arial, sans-serif; line-height: normal; margin-top: 0; margin-bottom: 0; text-align: left; margin-right: 0pt; "><FONT>*</FONT><SUP style="font-size: 7.0pt; line-height: 7.0pt; ">(1)(2)</SUP><FONT>&#160;</FONT></P>
                            </TD>
                        </TR>
                        <TR style="min-height: 3pt; ">
                            <TD style="background-color: #cceeff; border-top: 0pt; padding-top: 1pt; border-right: 0pt; border-left: 0pt; padding-left: 0pt; vertical-align: top; padding-bottom: 1pt; border-bottom: 0pt; padding-right: 0pt; ">
                                <P style="margin-left: 0pt; color: #000000; font-size: 9pt; font-family: Arial, sans-serif; line-height: normal; margin-top: 0; margin-bottom: 0; text-align: right; margin-right: 0pt; "><FONT>&#160;</FONT></P>
                            </TD>
                            <TD style="background-color: #cceeff; border-top: 0pt; padding-top: 0pt; border-right: 0pt; border-left: 0pt; padding-left: 0pt; vertical-align: bottom; padding-bottom: 0pt; border-bottom: 0pt; padding-right: 0pt; ">
                                <P style="margin-left: 0pt; font-size: 1pt; line-height: 1pt; margin-top: 0pt; margin-bottom: 0; margin-right: 0pt; ">&#8203;</P>
                            </TD>
                            <TD style="background-color: #cceeff; border-top: 0pt; padding-top: 1pt; border-right: 0pt; border-left: 0pt; padding-left: 0pt; vertical-align: bottom; padding-bottom: 1pt; border-bottom: 0pt; padding-right: 0pt; ">
                                <P style="margin-left: 11.25pt; color: #000000; text-indent: -11.25pt; font-size: 9pt; font-family: Arial, sans-serif; line-height: normal; margin-top: 0; margin-bottom: 0; text-align: left; margin-right: 0pt; "><FONT>M&amp;T Bank Corporation:</FONT></P>
                            </TD>
                            <TD style="background-color: #cceeff; border-top: 0pt; padding-top: 0pt; border-right: 0pt; border-left: 0pt; padding-left: 0pt; vertical-align: bottom; padding-bottom: 0pt; border-bottom: 0pt; padding-right: 0pt; ">
                                <P style="margin-left: 0pt; font-size: 1pt; line-height: 1pt; margin-top: 0pt; margin-bottom: 0; margin-right: 0pt; ">&#8203;</P>
                            </TD>
                            <TD style="background-color: #cceeff; border-top: 0pt; padding-top: 0pt; border-right: 0pt; border-left: 0pt; padding-left: 0pt; vertical-align: bottom; padding-bottom: 0pt; border-bottom: 0pt; padding-right: 0pt; ">
                                <P style="margin-left: 0pt; font-size: 1pt; line-height: 1pt; margin-top: 0pt; margin-bottom: 0; margin-right: 0pt; ">&#8203;</P>
                            </TD>
                        </TR>
                        <TR style="min-height: 3pt; ">
                            <TD style="border-top: 0pt; padding-top: 1pt; border-right: 0pt; border-left: 0pt; padding-left: 0pt; vertical-align: top; padding-bottom: 1pt; border-bottom: 0pt; padding-right: 0pt; ">
                                <P style="margin-left: 0pt; color: #000000; font-size: 9pt; font-family: Arial, sans-serif; line-height: normal; margin-top: 0; margin-bottom: 0; text-align: right; margin-right: 0pt; "><FONT style="float: left; "><FONT>$</FONT></FONT><FONT style="float: right; "><FONT>575,000</FONT></FONT><FONT style="font-size: 9pt; ">&#8203;</FONT>                                    <BR clear="all"></P>
                            </TD>
                            <TD style="border-top: 0pt; padding-top: 0pt; border-right: 0pt; border-left: 0pt; padding-left: 0pt; vertical-align: bottom; padding-bottom: 0pt; border-bottom: 0pt; padding-right: 0pt; ">
                                <P style="margin-left: 0pt; font-size: 1pt; line-height: 1pt; margin-top: 0pt; margin-bottom: 0; margin-right: 0pt; ">&#8203;</P>
                            </TD>
                            <TD style="border-top: 0pt; padding-top: 1pt; border-right: 0pt; border-left: 0pt; padding-left: 0pt; vertical-align: bottom; padding-bottom: 1pt; border-bottom: 0pt; padding-right: 0pt; ">
                                <P style="margin-left: 22.5pt; color: #000000; text-indent: -11.25pt; font-size: 9pt; font-family: Arial, sans-serif; line-height: normal; margin-top: 0; margin-bottom: 0; text-align: left; margin-right: 0pt; "><FONT>3.50% to 09/01/26 then T5Y + 2.679%, Series I </FONT></P>
                            </TD>
                            <TD style="border-top: 0pt; padding-top: 1pt; border-right: 0pt; border-left: 0pt; padding-left: 0pt; vertical-align: bottom; padding-bottom: 1pt; border-bottom: 0pt; padding-right: 0pt; ">
                                <P style="margin-left: 0pt; color: #000000; font-size: 9pt; font-family: Arial, sans-serif; line-height: normal; margin-top: 0; margin-bottom: 0; text-align: right; margin-right: 0pt; "><A name="pfd-nportex_083125a1157"></A><FONT>&#160;557,236</FONT></P>
                            </TD>
                            <TD style="border-top: 0pt; padding-top: 1pt; border-right: 0pt; border-left: 0pt; padding-left: 0pt; vertical-align: bottom; padding-bottom: 1pt; border-bottom: 0pt; padding-right: 0pt; ">
                                <P style="margin-left: 0pt; color: #000000; text-indent: 0pt; font-size: 9pt; font-family: Arial, sans-serif; line-height: normal; margin-top: 0; margin-bottom: 0; text-align: left; margin-right: 0pt; "><FONT>*</FONT><SUP style="font-size: 7.0pt; line-height: 7.0pt; ">(1)</SUP><FONT>&#160;</FONT></P>
                            </TD>
                        </TR>
                        <TR style="min-height: 3pt; ">
                            <TD style="background-color: #cceeff; border-top: 0pt; padding-top: 1pt; border-right: 0pt; border-left: 0pt; padding-left: 0pt; vertical-align: top; padding-bottom: 1pt; border-bottom: 0pt; padding-right: 0pt; ">
                                <P style="margin-left: 0pt; color: #000000; font-size: 9pt; font-family: Arial, sans-serif; line-height: normal; margin-top: 0; margin-bottom: 0; text-align: right; margin-right: 0pt; "><FONT style="float: left; "><FONT>$</FONT></FONT><FONT style="float: right; "><FONT>355,000</FONT></FONT><FONT style="font-size: 9pt; ">&#8203;</FONT>                                    <BR clear="all"></P>
                            </TD>
                            <TD style="background-color: #cceeff; border-top: 0pt; padding-top: 0pt; border-right: 0pt; border-left: 0pt; padding-left: 0pt; vertical-align: bottom; padding-bottom: 0pt; border-bottom: 0pt; padding-right: 0pt; ">
                                <P style="margin-left: 0pt; font-size: 1pt; line-height: 1pt; margin-top: 0pt; margin-bottom: 0; margin-right: 0pt; ">&#8203;</P>
                            </TD>
                            <TD style="background-color: #cceeff; border-top: 0pt; padding-top: 1pt; border-right: 0pt; border-left: 0pt; padding-left: 0pt; vertical-align: bottom; padding-bottom: 1pt; border-bottom: 0pt; padding-right: 0pt; ">
                                <P style="margin-left: 22.5pt; color: #000000; text-indent: -11.25pt; font-size: 9pt; font-family: Arial, sans-serif; line-height: normal; margin-top: 0; margin-bottom: 0; text-align: left; margin-right: 0pt; "><FONT>5.125% to 11/01/26 then TSFR3M + 3.78161%, Series F </FONT></P>
                            </TD>
                            <TD style="background-color: #cceeff; border-top: 0pt; padding-top: 1pt; border-right: 0pt; border-left: 0pt; padding-left: 0pt; vertical-align: bottom; padding-bottom: 1pt; border-bottom: 0pt; padding-right: 0pt; ">
                                <P style="margin-left: 0pt; color: #000000; font-size: 9pt; font-family: Arial, sans-serif; line-height: normal; margin-top: 0; margin-bottom: 0; text-align: right; margin-right: 0pt; "><A name="pfd-nportex_083125a1158"></A><FONT>&#160;353,054</FONT></P>
                            </TD>
                            <TD style="background-color: #cceeff; border-top: 0pt; padding-top: 1pt; border-right: 0pt; border-left: 0pt; padding-left: 0pt; vertical-align: bottom; padding-bottom: 1pt; border-bottom: 0pt; padding-right: 0pt; ">
                                <P style="margin-left: 0pt; color: #000000; text-indent: 0pt; font-size: 9pt; font-family: Arial, sans-serif; line-height: normal; margin-top: 0; margin-bottom: 0; text-align: left; margin-right: 0pt; "><FONT>*</FONT><SUP style="font-size: 7.0pt; line-height: 7.0pt; ">(1)</SUP><FONT>&#160;</FONT></P>
                            </TD>
                        </TR>
                        <TR style="min-height: 3pt; ">
                            <TD style="border-top: 0pt; padding-top: 1pt; border-right: 0pt; border-left: 0pt; padding-left: 0pt; vertical-align: top; padding-bottom: 1pt; border-bottom: 0pt; padding-right: 0pt; ">
                                <P style="margin-left: 0pt; color: #000000; font-size: 9pt; font-family: Arial, sans-serif; line-height: normal; margin-top: 0; margin-bottom: 0; text-align: right; margin-right: 0pt; "><FONT>17,600</FONT></P>
                            </TD>
                            <TD style="border-top: 0pt; padding-top: 0pt; border-right: 0pt; border-left: 0pt; padding-left: 0pt; vertical-align: bottom; padding-bottom: 0pt; border-bottom: 0pt; padding-right: 0pt; ">
                                <P style="margin-left: 0pt; font-size: 1pt; line-height: 1pt; margin-top: 0pt; margin-bottom: 0; margin-right: 0pt; ">&#8203;</P>
                            </TD>
                            <TD style="border-top: 0pt; padding-top: 1pt; border-right: 0pt; border-left: 0pt; padding-left: 0pt; vertical-align: bottom; padding-bottom: 1pt; border-bottom: 0pt; padding-right: 0pt; ">
                                <P style="margin-left: 22.5pt; color: #000000; text-indent: -11.25pt; font-size: 9pt; font-family: Arial, sans-serif; line-height: normal; margin-top: 0; margin-bottom: 0; text-align: left; margin-right: 0pt; "><FONT>5.625% to 12/15/26 then TSFR3M + 4.28161%, Series H </FONT></P>
                            </TD>
                            <TD style="border-top: 0pt; padding-top: 1pt; border-right: 0pt; border-left: 0pt; padding-left: 0pt; vertical-align: bottom; padding-bottom: 1pt; border-bottom: 0pt; padding-right: 0pt; ">
                                <P style="margin-left: 0pt; color: #000000; font-size: 9pt; font-family: Arial, sans-serif; line-height: normal; margin-top: 0; margin-bottom: 0; text-align: right; margin-right: 0pt; "><A name="pfd-nportex_083125a1159"></A><FONT>&#160;435,600</FONT></P>
                            </TD>
                            <TD style="border-top: 0pt; padding-top: 1pt; border-right: 0pt; border-left: 0pt; padding-left: 0pt; vertical-align: bottom; padding-bottom: 1pt; border-bottom: 0pt; padding-right: 0pt; ">
                                <P style="margin-left: 0pt; color: #000000; text-indent: 0pt; font-size: 9pt; font-family: Arial, sans-serif; line-height: normal; margin-top: 0; margin-bottom: 0; text-align: left; margin-right: 0pt; "><FONT>*</FONT><SUP style="font-size: 7.0pt; line-height: 7.0pt; ">(1)</SUP><FONT>&#160;</FONT></P>
                            </TD>
                        </TR>
                        <TR style="min-height: 3pt; ">
                            <TD style="background-color: #cceeff; border-top: 0pt; padding-top: 1pt; border-right: 0pt; border-left: 0pt; padding-left: 0pt; vertical-align: top; padding-bottom: 1pt; border-bottom: 0pt; padding-right: 0pt; ">
                                <P style="margin-left: 0pt; color: #000000; font-size: 9pt; font-family: Arial, sans-serif; line-height: normal; margin-top: 0; margin-bottom: 0; text-align: right; margin-right: 0pt; "><FONT>&#160;</FONT></P>
                            </TD>
                            <TD style="background-color: #cceeff; border-top: 0pt; padding-top: 0pt; border-right: 0pt; border-left: 0pt; padding-left: 0pt; vertical-align: bottom; padding-bottom: 0pt; border-bottom: 0pt; padding-right: 0pt; ">
                                <P style="margin-left: 0pt; font-size: 1pt; line-height: 1pt; margin-top: 0pt; margin-bottom: 0; margin-right: 0pt; ">&#8203;</P>
                            </TD>
                            <TD style="background-color: #cceeff; border-top: 0pt; padding-top: 1pt; border-right: 0pt; border-left: 0pt; padding-left: 0pt; vertical-align: bottom; padding-bottom: 1pt; border-bottom: 0pt; padding-right: 0pt; ">
                                <P style="margin-left: 11.25pt; color: #000000; text-indent: -11.25pt; font-size: 9pt; font-family: Arial, sans-serif; line-height: normal; margin-top: 0; margin-bottom: 0; text-align: left; margin-right: 0pt; "><FONT>Morgan Stanley:</FONT></P>
                            </TD>
                            <TD style="background-color: #cceeff; border-top: 0pt; padding-top: 0pt; border-right: 0pt; border-left: 0pt; padding-left: 0pt; vertical-align: bottom; padding-bottom: 0pt; border-bottom: 0pt; padding-right: 0pt; ">
                                <P style="margin-left: 0pt; font-size: 1pt; line-height: 1pt; margin-top: 0pt; margin-bottom: 0; margin-right: 0pt; ">&#8203;</P>
                            </TD>
                            <TD style="background-color: #cceeff; border-top: 0pt; padding-top: 0pt; border-right: 0pt; border-left: 0pt; padding-left: 0pt; vertical-align: bottom; padding-bottom: 0pt; border-bottom: 0pt; padding-right: 0pt; ">
                                <P style="margin-left: 0pt; font-size: 1pt; line-height: 1pt; margin-top: 0pt; margin-bottom: 0; margin-right: 0pt; ">&#8203;</P>
                            </TD>
                        </TR>
                        <TR style="min-height: 3pt; ">
                            <TD style="border-top: 0pt; padding-top: 1pt; border-right: 0pt; border-left: 0pt; padding-left: 0pt; vertical-align: top; padding-bottom: 1pt; border-bottom: 0pt; padding-right: 0pt; ">
                                <P style="margin-left: 0pt; color: #000000; font-size: 9pt; font-family: Arial, sans-serif; line-height: normal; margin-top: 0; margin-bottom: 0; text-align: right; margin-right: 0pt; "><FONT>53,380</FONT></P>
                            </TD>
                            <TD style="border-top: 0pt; padding-top: 0pt; border-right: 0pt; border-left: 0pt; padding-left: 0pt; vertical-align: bottom; padding-bottom: 0pt; border-bottom: 0pt; padding-right: 0pt; ">
                                <P style="margin-left: 0pt; font-size: 1pt; line-height: 1pt; margin-top: 0pt; margin-bottom: 0; margin-right: 0pt; ">&#8203;</P>
                            </TD>
                            <TD style="border-top: 0pt; padding-top: 1pt; border-right: 0pt; border-left: 0pt; padding-left: 0pt; vertical-align: bottom; padding-bottom: 1pt; border-bottom: 0pt; padding-right: 0pt; ">
                                <P style="margin-left: 22.5pt; color: #000000; text-indent: -11.25pt; font-size: 9pt; font-family: Arial, sans-serif; line-height: normal; margin-top: 0; margin-bottom: 0; text-align: left; margin-right: 0pt; "><FONT>5.85%, Series K </FONT></P>
                            </TD>
                            <TD style="border-top: 0pt; padding-top: 1pt; border-right: 0pt; border-left: 0pt; padding-left: 0pt; vertical-align: bottom; padding-bottom: 1pt; border-bottom: 0pt; padding-right: 0pt; ">
                                <P style="margin-left: 0pt; color: #000000; font-size: 9pt; font-family: Arial, sans-serif; line-height: normal; margin-top: 0; margin-bottom: 0; text-align: right; margin-right: 0pt; "><A name="pfd-nportex_083125a1160"></A><FONT>&#160;1,306,742</FONT></P>
                            </TD>
                            <TD style="border-top: 0pt; padding-top: 1pt; border-right: 0pt; border-left: 0pt; padding-left: 0pt; vertical-align: bottom; padding-bottom: 1pt; border-bottom: 0pt; padding-right: 0pt; ">
                                <P style="margin-left: 0pt; color: #000000; text-indent: 0pt; font-size: 9pt; font-family: Arial, sans-serif; line-height: normal; margin-top: 0; margin-bottom: 0; text-align: left; margin-right: 0pt; "><FONT>*</FONT><SUP style="font-size: 7.0pt; line-height: 7.0pt; ">(1)(2)</SUP><FONT>&#160;</FONT></P>
                            </TD>
                        </TR>
                        <TR style="min-height: 3pt; ">
                            <TD style="background-color: #cceeff; border-top: 0pt; padding-top: 1pt; border-right: 0pt; border-left: 0pt; padding-left: 0pt; vertical-align: top; padding-bottom: 1pt; border-bottom: 0pt; padding-right: 0pt; ">
                                <P style="margin-left: 0pt; color: #000000; font-size: 9pt; font-family: Arial, sans-serif; line-height: normal; margin-top: 0; margin-bottom: 0; text-align: right; margin-right: 0pt; "><FONT>15,200</FONT></P>
                            </TD>
                            <TD style="background-color: #cceeff; border-top: 0pt; padding-top: 0pt; border-right: 0pt; border-left: 0pt; padding-left: 0pt; vertical-align: bottom; padding-bottom: 0pt; border-bottom: 0pt; padding-right: 0pt; ">
                                <P style="margin-left: 0pt; font-size: 1pt; line-height: 1pt; margin-top: 0pt; margin-bottom: 0; margin-right: 0pt; ">&#8203;</P>
                            </TD>
                            <TD style="background-color: #cceeff; border-top: 0pt; padding-top: 1pt; border-right: 0pt; border-left: 0pt; padding-left: 0pt; vertical-align: bottom; padding-bottom: 1pt; border-bottom: 0pt; padding-right: 0pt; ">
                                <P style="margin-left: 22.5pt; color: #000000; text-indent: -11.25pt; font-size: 9pt; font-family: Arial, sans-serif; line-height: normal; margin-top: 0; margin-bottom: 0; text-align: left; margin-right: 0pt; "><FONT>6.625%, Series Q </FONT></P>
                            </TD>
                            <TD style="background-color: #cceeff; border-top: 0pt; padding-top: 1pt; border-right: 0pt; border-left: 0pt; padding-left: 0pt; vertical-align: bottom; padding-bottom: 1pt; border-bottom: 0pt; padding-right: 0pt; ">
                                <P style="margin-left: 0pt; color: #000000; font-size: 9pt; font-family: Arial, sans-serif; line-height: normal; margin-top: 0; margin-bottom: 0; text-align: right; margin-right: 0pt; "><A name="pfd-nportex_083125a1161"></A><FONT>&#160;394,136</FONT></P>
                            </TD>
                            <TD style="background-color: #cceeff; border-top: 0pt; padding-top: 1pt; border-right: 0pt; border-left: 0pt; padding-left: 0pt; vertical-align: bottom; padding-bottom: 1pt; border-bottom: 0pt; padding-right: 0pt; ">
                                <P style="margin-left: 0pt; color: #000000; text-indent: 0pt; font-size: 9pt; font-family: Arial, sans-serif; line-height: normal; margin-top: 0; margin-bottom: 0; text-align: left; margin-right: 0pt; "><FONT>*</FONT><SUP style="font-size: 7.0pt; line-height: 7.0pt; ">(1)</SUP><FONT>&#160;</FONT></P>
                            </TD>
                        </TR>
                        <TR style="min-height: 3pt; ">
                            <TD style="border-top: 0pt; padding-top: 1pt; border-right: 0pt; border-left: 0pt; padding-left: 0pt; vertical-align: top; padding-bottom: 1pt; border-bottom: 0pt; padding-right: 0pt; ">
                                <P style="margin-left: 0pt; color: #000000; font-size: 9pt; font-family: Arial, sans-serif; line-height: normal; margin-top: 0; margin-bottom: 0; text-align: right; margin-right: 0pt; "><FONT>154,665</FONT></P>
                            </TD>
                            <TD style="border-top: 0pt; padding-top: 0pt; border-right: 0pt; border-left: 0pt; padding-left: 0pt; vertical-align: bottom; padding-bottom: 0pt; border-bottom: 0pt; padding-right: 0pt; ">
                                <P style="margin-left: 0pt; font-size: 1pt; line-height: 1pt; margin-top: 0pt; margin-bottom: 0; margin-right: 0pt; ">&#8203;</P>
                            </TD>
                            <TD style="border-top: 0pt; padding-top: 1pt; border-right: 0pt; border-left: 0pt; padding-left: 0pt; vertical-align: bottom; padding-bottom: 1pt; border-bottom: 0pt; padding-right: 0pt; ">
                                <P style="margin-left: 22.5pt; color: #000000; text-indent: -11.25pt; font-size: 9pt; font-family: Arial, sans-serif; line-height: normal; margin-top: 0; margin-bottom: 0; text-align: left; margin-right: 0pt; "><FONT>6.875%, Series F </FONT></P>
                            </TD>
                            <TD style="border-top: 0pt; padding-top: 1pt; border-right: 0pt; border-left: 0pt; padding-left: 0pt; vertical-align: bottom; padding-bottom: 1pt; border-bottom: 0pt; padding-right: 0pt; ">
                                <P style="margin-left: 0pt; color: #000000; font-size: 9pt; font-family: Arial, sans-serif; line-height: normal; margin-top: 0; margin-bottom: 0; text-align: right; margin-right: 0pt; "><A name="pfd-nportex_083125a1162"></A><FONT>&#160;3,922,304</FONT></P>
                            </TD>
                            <TD style="border-top: 0pt; padding-top: 1pt; border-right: 0pt; border-left: 0pt; padding-left: 0pt; vertical-align: bottom; padding-bottom: 1pt; border-bottom: 0pt; padding-right: 0pt; ">
                                <P style="margin-left: 0pt; color: #000000; text-indent: 0pt; font-size: 9pt; font-family: Arial, sans-serif; line-height: normal; margin-top: 0; margin-bottom: 0; text-align: left; margin-right: 0pt; "><FONT>*</FONT><SUP style="font-size: 7.0pt; line-height: 7.0pt; ">(1)(2)</SUP><FONT>&#160;</FONT></P>
                            </TD>
                        </TR>
                        <TR style="min-height: 3pt; ">
                            <TD style="background-color: #cceeff; border-top: 0pt; padding-top: 1pt; border-right: 0pt; border-left: 0pt; padding-left: 0pt; vertical-align: top; padding-bottom: 1pt; border-bottom: 0pt; padding-right: 0pt; ">
                                <P style="margin-left: 0pt; color: #000000; font-size: 9pt; font-family: Arial, sans-serif; line-height: normal; margin-top: 0; margin-bottom: 0; text-align: right; margin-right: 0pt; "><FONT>58,216</FONT></P>
                            </TD>
                            <TD style="background-color: #cceeff; border-top: 0pt; padding-top: 0pt; border-right: 0pt; border-left: 0pt; padding-left: 0pt; vertical-align: bottom; padding-bottom: 0pt; border-bottom: 0pt; padding-right: 0pt; ">
                                <P style="margin-left: 0pt; font-size: 1pt; line-height: 1pt; margin-top: 0pt; margin-bottom: 0; margin-right: 0pt; ">&#8203;</P>
                            </TD>
                            <TD style="background-color: #cceeff; border-top: 0pt; padding-top: 1pt; border-right: 0pt; border-left: 0pt; padding-left: 0pt; vertical-align: bottom; padding-bottom: 1pt; border-bottom: 0pt; padding-right: 0pt; ">
                                <P style="margin-left: 22.5pt; color: #000000; text-indent: -11.25pt; font-size: 9pt; font-family: Arial, sans-serif; line-height: normal; margin-top: 0; margin-bottom: 0; text-align: left; margin-right: 0pt; "><FONT>7.125%, Series E </FONT></P>
                            </TD>
                            <TD style="background-color: #cceeff; border-top: 0pt; padding-top: 1pt; border-right: 0pt; border-left: 0pt; padding-left: 0pt; vertical-align: bottom; padding-bottom: 1pt; border-bottom: 0pt; padding-right: 0pt; ">
                                <P style="margin-left: 0pt; color: #000000; font-size: 9pt; font-family: Arial, sans-serif; line-height: normal; margin-top: 0; margin-bottom: 0; text-align: right; margin-right: 0pt; "><A name="pfd-nportex_083125a1163"></A><FONT>&#160;1,486,255</FONT></P>
                            </TD>
                            <TD style="background-color: #cceeff; border-top: 0pt; padding-top: 1pt; border-right: 0pt; border-left: 0pt; padding-left: 0pt; vertical-align: bottom; padding-bottom: 1pt; border-bottom: 0pt; padding-right: 0pt; ">
                                <P style="margin-left: 0pt; color: #000000; text-indent: 0pt; font-size: 9pt; font-family: Arial, sans-serif; line-height: normal; margin-top: 0; margin-bottom: 0; text-align: left; margin-right: 0pt; "><FONT>*</FONT><SUP style="font-size: 7.0pt; line-height: 7.0pt; ">(1)(2)</SUP><FONT>&#160;</FONT></P>
                            </TD>
                        </TR>
                        <TR style="min-height: 3pt; ">
                            <TD style="border-top: 0pt; padding-top: 1pt; border-right: 0pt; border-left: 0pt; padding-left: 0pt; vertical-align: top; padding-bottom: 1pt; border-bottom: 0pt; padding-right: 0pt; ">
                                <P style="margin-left: 0pt; color: #000000; font-size: 9pt; font-family: Arial, sans-serif; line-height: normal; margin-top: 0; margin-bottom: 0; text-align: right; margin-right: 0pt; "><FONT style="float: left; "><FONT>$</FONT></FONT><FONT style="float: right; "><FONT>476,000</FONT></FONT><FONT style="font-size: 9pt; ">&#8203;</FONT>                                    <BR clear="all"></P>
                            </TD>
                            <TD style="border-top: 0pt; padding-top: 0pt; border-right: 0pt; border-left: 0pt; padding-left: 0pt; vertical-align: bottom; padding-bottom: 0pt; border-bottom: 0pt; padding-right: 0pt; ">
                                <P style="margin-left: 0pt; font-size: 1pt; line-height: 1pt; margin-top: 0pt; margin-bottom: 0; margin-right: 0pt; ">&#8203;</P>
                            </TD>
                            <TD style="border-top: 0pt; padding-top: 1pt; border-right: 0pt; border-left: 0pt; padding-left: 0pt; vertical-align: bottom; padding-bottom: 1pt; border-bottom: 0pt; padding-right: 0pt; ">
                                <P style="margin-left: 22.5pt; color: #000000; text-indent: -11.25pt; font-size: 9pt; font-family: Arial, sans-serif; line-height: normal; margin-top: 0; margin-bottom: 0; text-align: left; margin-right: 0pt; "><FONT>TSFR3M + 3.42161%, 7.74008%</FONT><SUP style="font-size: 7.0pt; line-height: 7.0pt; ">(4)</SUP><FONT>, Series N </FONT></P>
                            </TD>
                            <TD style="border-top: 0pt; padding-top: 1pt; border-right: 0pt; border-left: 0pt; padding-left: 0pt; vertical-align: bottom; padding-bottom: 1pt; border-bottom: 0pt; padding-right: 0pt; ">
                                <P style="margin-left: 0pt; color: #000000; font-size: 9pt; font-family: Arial, sans-serif; line-height: normal; margin-top: 0; margin-bottom: 0; text-align: right; margin-right: 0pt; "><A name="pfd-nportex_083125a1164"></A><FONT>&#160;480,424</FONT></P>
                            </TD>
                            <TD style="border-top: 0pt; padding-top: 1pt; border-right: 0pt; border-left: 0pt; padding-left: 0pt; vertical-align: bottom; padding-bottom: 1pt; border-bottom: 0pt; padding-right: 0pt; ">
                                <P style="margin-left: 0pt; color: #000000; text-indent: 0pt; font-size: 9pt; font-family: Arial, sans-serif; line-height: normal; margin-top: 0; margin-bottom: 0; text-align: left; margin-right: 0pt; "><FONT>*</FONT><SUP style="font-size: 7.0pt; line-height: 7.0pt; ">(1)(2)(3)</SUP><FONT>&#160;</FONT></P>
                            </TD>
                        </TR>
                        <TR style="min-height: 3pt; ">
                            <TD style="background-color: #cceeff; border-top: 0pt; padding-top: 1pt; border-right: 0pt; border-left: 0pt; padding-left: 0pt; vertical-align: top; padding-bottom: 1pt; border-bottom: 0pt; padding-right: 0pt; ">
                                <P style="margin-left: 0pt; color: #000000; font-size: 9pt; font-family: Arial, sans-serif; line-height: normal; margin-top: 0; margin-bottom: 0; text-align: right; margin-right: 0pt; "><FONT>50,000</FONT></P>
                            </TD>
                            <TD style="background-color: #cceeff; border-top: 0pt; padding-top: 0pt; border-right: 0pt; border-left: 0pt; padding-left: 0pt; vertical-align: bottom; padding-bottom: 0pt; border-bottom: 0pt; padding-right: 0pt; ">
                                <P style="margin-left: 0pt; font-size: 1pt; line-height: 1pt; margin-top: 0pt; margin-bottom: 0; margin-right: 0pt; ">&#8203;</P>
                            </TD>
                            <TD style="background-color: #cceeff; border-top: 0pt; padding-top: 1pt; border-right: 0pt; border-left: 0pt; padding-left: 0pt; vertical-align: bottom; padding-bottom: 1pt; border-bottom: 0pt; padding-right: 0pt; ">
                                <P style="margin-left: 11.25pt; color: #000000; text-indent: -11.25pt; font-size: 9pt; font-family: Arial, sans-serif; line-height: normal; margin-top: 0; margin-bottom: 0; text-align: left; margin-right: 0pt; "><FONT>Northpointe Bancshares, Inc., 8.25% to 12/30/25 then TSFR3M + 7.99%, Series A </FONT></P>
                            </TD>
                            <TD style="background-color: #cceeff; border-top: 0pt; padding-top: 1pt; border-right: 0pt; border-left: 0pt; padding-left: 0pt; vertical-align: bottom; padding-bottom: 1pt; border-bottom: 0pt; padding-right: 0pt; ">
                                <P style="margin-left: 0pt; color: #000000; font-size: 9pt; font-family: Arial, sans-serif; line-height: normal; margin-top: 0; margin-bottom: 0; text-align: right; margin-right: 0pt; "><A name="pfd-nportex_083125a1165"></A><FONT>&#160;1,231,250</FONT></P>
                            </TD>
                            <TD style="background-color: #cceeff; border-top: 0pt; padding-top: 1pt; border-right: 0pt; border-left: 0pt; padding-left: 0pt; vertical-align: bottom; padding-bottom: 1pt; border-bottom: 0pt; padding-right: 0pt; ">
                                <P style="margin-left: 0pt; color: #000000; text-indent: 0pt; font-size: 9pt; font-family: Arial, sans-serif; line-height: normal; margin-top: 0; margin-bottom: 0; text-align: left; margin-right: 0pt; "><FONT>*</FONT><SUP style="font-size: 7.0pt; line-height: 7.0pt; ">(1)</SUP><FONT>&#160;</FONT></P>
                            </TD>
                        </TR>
                        <TR style="min-height: 3pt; ">
                            <TD style="border-top: 0pt; padding-top: 1pt; border-right: 0pt; border-left: 0pt; padding-left: 0pt; vertical-align: top; padding-bottom: 1pt; border-bottom: 0pt; padding-right: 0pt; ">
                                <P style="margin-left: 0pt; color: #000000; font-size: 9pt; font-family: Arial, sans-serif; line-height: normal; margin-top: 0; margin-bottom: 0; text-align: right; margin-right: 0pt; "><FONT>&#160;</FONT></P>
                            </TD>
                            <TD style="border-top: 0pt; padding-top: 0pt; border-right: 0pt; border-left: 0pt; padding-left: 0pt; vertical-align: bottom; padding-bottom: 0pt; border-bottom: 0pt; padding-right: 0pt; ">
                                <P style="margin-left: 0pt; font-size: 1pt; line-height: 1pt; margin-top: 0pt; margin-bottom: 0; margin-right: 0pt; ">&#8203;</P>
                            </TD>
                            <TD style="border-top: 0pt; padding-top: 1pt; border-right: 0pt; border-left: 0pt; padding-left: 0pt; vertical-align: bottom; padding-bottom: 1pt; border-bottom: 0pt; padding-right: 0pt; ">
                                <P style="margin-left: 11.25pt; color: #000000; text-indent: -11.25pt; font-size: 9pt; font-family: Arial, sans-serif; line-height: normal; margin-top: 0; margin-bottom: 0; text-align: left; margin-right: 0pt; "><FONT>PNC Financial Services Group, Inc.:</FONT></P>
                            </TD>
                            <TD style="border-top: 0pt; padding-top: 0pt; border-right: 0pt; border-left: 0pt; padding-left: 0pt; vertical-align: bottom; padding-bottom: 0pt; border-bottom: 0pt; padding-right: 0pt; ">
                                <P style="margin-left: 0pt; font-size: 1pt; line-height: 1pt; margin-top: 0pt; margin-bottom: 0; margin-right: 0pt; ">&#8203;</P>
                            </TD>
                            <TD style="border-top: 0pt; padding-top: 0pt; border-right: 0pt; border-left: 0pt; padding-left: 0pt; vertical-align: bottom; padding-bottom: 0pt; border-bottom: 0pt; padding-right: 0pt; ">
                                <P style="margin-left: 0pt; font-size: 1pt; line-height: 1pt; margin-top: 0pt; margin-bottom: 0; margin-right: 0pt; ">&#8203;</P>
                            </TD>
                        </TR>
                        <TR style="min-height: 3pt; ">
                            <TD style="background-color: #cceeff; border-top: 0pt; padding-top: 1pt; border-right: 0pt; border-left: 0pt; padding-left: 0pt; vertical-align: top; padding-bottom: 1pt; border-bottom: 0pt; padding-right: 0pt; ">
                                <P style="margin-left: 0pt; color: #000000; font-size: 9pt; font-family: Arial, sans-serif; line-height: normal; margin-top: 0; margin-bottom: 0; text-align: right; margin-right: 0pt; "><FONT style="float: left; "><FONT>$</FONT></FONT><FONT style="float: right; "><FONT>310,000</FONT></FONT><FONT style="font-size: 9pt; ">&#8203;</FONT>                                    <BR clear="all"></P>
                            </TD>
                            <TD style="background-color: #cceeff; border-top: 0pt; padding-top: 0pt; border-right: 0pt; border-left: 0pt; padding-left: 0pt; vertical-align: bottom; padding-bottom: 0pt; border-bottom: 0pt; padding-right: 0pt; ">
                                <P style="margin-left: 0pt; font-size: 1pt; line-height: 1pt; margin-top: 0pt; margin-bottom: 0; margin-right: 0pt; ">&#8203;</P>
                            </TD>
                            <TD style="background-color: #cceeff; border-top: 0pt; padding-top: 1pt; border-right: 0pt; border-left: 0pt; padding-left: 0pt; vertical-align: bottom; padding-bottom: 1pt; border-bottom: 0pt; padding-right: 0pt; ">
                                <P style="margin-left: 22.5pt; color: #000000; text-indent: -11.25pt; font-size: 9pt; font-family: Arial, sans-serif; line-height: normal; margin-top: 0; margin-bottom: 0; text-align: left; margin-right: 0pt; "><FONT>3.40% to 09/15/26 then T5Y + 2.595%, Series T </FONT></P>
                            </TD>
                            <TD style="background-color: #cceeff; border-top: 0pt; padding-top: 1pt; border-right: 0pt; border-left: 0pt; padding-left: 0pt; vertical-align: bottom; padding-bottom: 1pt; border-bottom: 0pt; padding-right: 0pt; ">
                                <P style="margin-left: 0pt; color: #000000; font-size: 9pt; font-family: Arial, sans-serif; line-height: normal; margin-top: 0; margin-bottom: 0; text-align: right; margin-right: 0pt; "><A name="pfd-nportex_083125a1166"></A><FONT>&#160;300,193</FONT></P>
                            </TD>
                            <TD style="background-color: #cceeff; border-top: 0pt; padding-top: 1pt; border-right: 0pt; border-left: 0pt; padding-left: 0pt; vertical-align: bottom; padding-bottom: 1pt; border-bottom: 0pt; padding-right: 0pt; ">
                                <P style="margin-left: 0pt; color: #000000; text-indent: 0pt; font-size: 9pt; font-family: Arial, sans-serif; line-height: normal; margin-top: 0; margin-bottom: 0; text-align: left; margin-right: 0pt; "><FONT>*</FONT><SUP style="font-size: 7.0pt; line-height: 7.0pt; ">(1)</SUP><FONT>&#160;</FONT></P>
                            </TD>
                        </TR>
                        <TR style="min-height: 3pt; ">
                            <TD style="border-top: 0pt; padding-top: 1pt; border-right: 0pt; border-left: 0pt; padding-left: 0pt; vertical-align: top; padding-bottom: 1pt; border-bottom: 0pt; padding-right: 0pt; ">
                                <P style="margin-left: 0pt; color: #000000; font-size: 9pt; font-family: Arial, sans-serif; line-height: normal; margin-top: 0; margin-bottom: 0; text-align: right; margin-right: 0pt; "><FONT style="float: left; "><FONT>$</FONT></FONT><FONT style="float: right; "><FONT>3,155,000</FONT></FONT><FONT style="font-size: 9pt; ">&#8203;</FONT>                                    <BR clear="all"></P>
                            </TD>
                            <TD style="border-top: 0pt; padding-top: 0pt; border-right: 0pt; border-left: 0pt; padding-left: 0pt; vertical-align: bottom; padding-bottom: 0pt; border-bottom: 0pt; padding-right: 0pt; ">
                                <P style="margin-left: 0pt; font-size: 1pt; line-height: 1pt; margin-top: 0pt; margin-bottom: 0; margin-right: 0pt; ">&#8203;</P>
                            </TD>
                            <TD style="border-top: 0pt; padding-top: 1pt; border-right: 0pt; border-left: 0pt; padding-left: 0pt; vertical-align: bottom; padding-bottom: 1pt; border-bottom: 0pt; padding-right: 0pt; ">
                                <P style="margin-left: 22.5pt; color: #000000; text-indent: -11.25pt; font-size: 9pt; font-family: Arial, sans-serif; line-height: normal; margin-top: 0; margin-bottom: 0; text-align: left; margin-right: 0pt; "><FONT>6.00% to 05/15/27 then T5Y + 3.00%, Series U </FONT></P>
                            </TD>
                            <TD style="border-top: 0pt; padding-top: 1pt; border-right: 0pt; border-left: 0pt; padding-left: 0pt; vertical-align: bottom; padding-bottom: 1pt; border-bottom: 0pt; padding-right: 0pt; ">
                                <P style="margin-left: 0pt; color: #000000; font-size: 9pt; font-family: Arial, sans-serif; line-height: normal; margin-top: 0; margin-bottom: 0; text-align: right; margin-right: 0pt; "><A name="pfd-nportex_083125a1167"></A><FONT>&#160;3,184,007</FONT></P>
                            </TD>
                            <TD style="border-top: 0pt; padding-top: 1pt; border-right: 0pt; border-left: 0pt; padding-left: 0pt; vertical-align: bottom; padding-bottom: 1pt; border-bottom: 0pt; padding-right: 0pt; ">
                                <P style="margin-left: 0pt; color: #000000; text-indent: 0pt; font-size: 9pt; font-family: Arial, sans-serif; line-height: normal; margin-top: 0; margin-bottom: 0; text-align: left; margin-right: 0pt; "><FONT>*</FONT><SUP style="font-size: 7.0pt; line-height: 7.0pt; ">(1)(2)(3)</SUP><FONT>&#160;</FONT></P>
                            </TD>
                        </TR>
                        <TR style="min-height: 3pt; ">
                            <TD style="background-color: #cceeff; border-top: 0pt; padding-top: 1pt; border-right: 0pt; border-left: 0pt; padding-left: 0pt; vertical-align: top; padding-bottom: 1pt; border-bottom: 0pt; padding-right: 0pt; ">
                                <P style="margin-left: 0pt; color: #000000; font-size: 9pt; font-family: Arial, sans-serif; line-height: normal; margin-top: 0; margin-bottom: 0; text-align: right; margin-right: 0pt; "><FONT style="float: left; "><FONT>$</FONT></FONT><FONT style="float: right; "><FONT>605,000</FONT></FONT><FONT style="font-size: 9pt; ">&#8203;</FONT>                                    <BR clear="all"></P>
                            </TD>
                            <TD style="background-color: #cceeff; border-top: 0pt; padding-top: 0pt; border-right: 0pt; border-left: 0pt; padding-left: 0pt; vertical-align: bottom; padding-bottom: 0pt; border-bottom: 0pt; padding-right: 0pt; ">
                                <P style="margin-left: 0pt; font-size: 1pt; line-height: 1pt; margin-top: 0pt; margin-bottom: 0; margin-right: 0pt; ">&#8203;</P>
                            </TD>
                            <TD style="background-color: #cceeff; border-top: 0pt; padding-top: 1pt; border-right: 0pt; border-left: 0pt; padding-left: 0pt; vertical-align: bottom; padding-bottom: 1pt; border-bottom: 0pt; padding-right: 0pt; ">
                                <P style="margin-left: 22.5pt; color: #000000; text-indent: -11.25pt; font-size: 9pt; font-family: Arial, sans-serif; line-height: normal; margin-top: 0; margin-bottom: 0; text-align: left; margin-right: 0pt; "><FONT>6.20% to 09/15/27 then T5Y + 3.238%, Series V </FONT></P>
                            </TD>
                            <TD style="background-color: #cceeff; border-top: 0pt; padding-top: 1pt; border-right: 0pt; border-left: 0pt; padding-left: 0pt; vertical-align: bottom; padding-bottom: 1pt; border-bottom: 0pt; padding-right: 0pt; ">
                                <P style="margin-left: 0pt; color: #000000; font-size: 9pt; font-family: Arial, sans-serif; line-height: normal; margin-top: 0; margin-bottom: 0; text-align: right; margin-right: 0pt; "><A name="pfd-nportex_083125a1168"></A><FONT>&#160;616,201</FONT></P>
                            </TD>
                            <TD style="background-color: #cceeff; border-top: 0pt; padding-top: 1pt; border-right: 0pt; border-left: 0pt; padding-left: 0pt; vertical-align: bottom; padding-bottom: 1pt; border-bottom: 0pt; padding-right: 0pt; ">
                                <P style="margin-left: 0pt; color: #000000; text-indent: 0pt; font-size: 9pt; font-family: Arial, sans-serif; line-height: normal; margin-top: 0; margin-bottom: 0; text-align: left; margin-right: 0pt; "><FONT>*</FONT><SUP style="font-size: 7.0pt; line-height: 7.0pt; ">(1)(2)</SUP><FONT>&#160;</FONT></P>
                            </TD>
                        </TR>
                        <TR style="min-height: 3pt; ">
                            <TD style="border-top: 0pt; padding-top: 1pt; border-right: 0pt; border-left: 0pt; padding-left: 0pt; vertical-align: top; padding-bottom: 1pt; border-bottom: 0pt; padding-right: 0pt; ">
                                <P style="margin-left: 0pt; color: #000000; font-size: 9pt; font-family: Arial, sans-serif; line-height: normal; margin-top: 0; margin-bottom: 0; text-align: right; margin-right: 0pt; "><FONT style="float: left; "><FONT>$</FONT></FONT><FONT style="float: right; "><FONT>1,093,000</FONT></FONT><FONT style="font-size: 9pt; ">&#8203;</FONT>                                    <BR clear="all"></P>
                            </TD>
                            <TD style="border-top: 0pt; padding-top: 0pt; border-right: 0pt; border-left: 0pt; padding-left: 0pt; vertical-align: bottom; padding-bottom: 0pt; border-bottom: 0pt; padding-right: 0pt; ">
                                <P style="margin-left: 0pt; font-size: 1pt; line-height: 1pt; margin-top: 0pt; margin-bottom: 0; margin-right: 0pt; ">&#8203;</P>
                            </TD>
                            <TD style="border-top: 0pt; padding-top: 1pt; border-right: 0pt; border-left: 0pt; padding-left: 0pt; vertical-align: bottom; padding-bottom: 1pt; border-bottom: 0pt; padding-right: 0pt; ">
                                <P style="margin-left: 22.5pt; color: #000000; text-indent: -11.25pt; font-size: 9pt; font-family: Arial, sans-serif; line-height: normal; margin-top: 0; margin-bottom: 0; text-align: left; margin-right: 0pt; "><FONT>6.25% to 03/15/30 then T7Y + 2.808%, Series W </FONT></P>
                            </TD>
                            <TD style="border-top: 0pt; padding-top: 1pt; border-right: 0pt; border-left: 0pt; padding-left: 0pt; vertical-align: bottom; padding-bottom: 1pt; border-bottom: 0pt; padding-right: 0pt; ">
                                <P style="margin-left: 0pt; color: #000000; font-size: 9pt; font-family: Arial, sans-serif; line-height: normal; margin-top: 0; margin-bottom: 0; text-align: right; margin-right: 0pt; "><A name="pfd-nportex_083125a1169"></A><FONT>&#160;1,108,232</FONT></P>
                            </TD>
                            <TD style="border-top: 0pt; padding-top: 1pt; border-right: 0pt; border-left: 0pt; padding-left: 0pt; vertical-align: bottom; padding-bottom: 1pt; border-bottom: 0pt; padding-right: 0pt; ">
                                <P style="margin-left: 0pt; color: #000000; text-indent: 0pt; font-size: 9pt; font-family: Arial, sans-serif; line-height: normal; margin-top: 0; margin-bottom: 0; text-align: left; margin-right: 0pt; "><FONT>*</FONT><SUP style="font-size: 7.0pt; line-height: 7.0pt; ">(1)(2)(3)&#160;</SUP><FONT>&#160;</FONT></P>
                            </TD>
                        </TR>
                    </TABLE>
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        <DIV style="page-break-before: always; ">
            <P style="font-size: 5pt; margin: 0pt; ">&#8203;</P>
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        <DIV style="margin: auto; overflow: hidden; width: 675.0pt; position: relative; border-bottom: 2pt solid black; height: 765.0pt; ">
            <DIV style="border: 0pt; padding-top: 0pt; top: 697.5pt; left: 33.75pt; padding-left: 0pt; width: 607.5pt; padding-bottom: 0pt; position: absolute; padding-right: 0pt; height: 33.75pt; ">
                <DIV style="vertical-align: bottom; width: 607.5pt; display: table-cell; height: 33.75pt; ">
                    <!-- [if IE]><TABLE><TR style=" width: 607.5pt; height: 33.75pt;"><TD vAlign="bottom" style=" width: 607.5pt; height: 33.75pt;"><![endif]-->
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            <DIV style="border: 0pt; padding-top: 0pt; top: 33.75pt; left: 33.75pt; padding-left: 0pt; width: 607.5pt; padding-bottom: 0pt; position: absolute; padding-right: 0pt; height: 86.25pt; ">
                <P style="border-top: 1pt solid ; margin-left: 0pt; color: #000000; font-size: 12pt; font-family: Times New Roman, Times, serif; margin-top: 0pt; margin-bottom: 0pt; text-align: right; margin-right: 0pt; "><FONT style="font-size: 8pt; font-family: Arial, sans-serif; ">&#160;</FONT></P>
                <P style="margin-left: 0pt; color: #000000; font-size: 12pt; font-family: Times New Roman, Times, serif; margin-top: 0pt; margin-bottom: 0pt; text-align: right; margin-right: 0pt; "><FONT style="font-size: 8pt; font-family: Arial, sans-serif; ">Flaherty &amp; Crumrine Preferred and Income Fund Incorporated</FONT></P>
                <P style="margin-left: 0pt; color: #000000; font-size: 12pt; font-family: Times New Roman, Times, serif; margin-top: 0pt; margin-bottom: 0pt; text-align: right; margin-right: 0pt; "><FONT style="font-family: Arial, sans-serif; ">PORTFOLIO OF INVESTMENTS (Continued)</FONT></P>
                <P style="margin-left: 0pt; color: #000000; font-size: 12pt; font-family: Times New Roman, Times, serif; margin-top: 0pt; margin-bottom: 0pt; text-align: right; margin-right: 0pt; "><FONT style="font-size: 10pt; font-family: Arial, sans-serif; ">August 31, 2025&#160;(Unaudited)</FONT></P>
                <P style="margin-left: 0pt; color: #000000; font-size: 12pt; font-family: Times New Roman, Times, serif; margin-top: 0pt; margin-bottom: 0pt; border-bottom: 1pt solid ; text-align: right; margin-right: 0pt; "><FONT style="font-size: 8pt; font-family: Arial, sans-serif; ">&#160;</FONT></P>
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            <DIV style="border: 0pt; padding-top: 0pt; top: 120pt; left: 33.75pt; padding-left: 0pt; width: 607.5pt; padding-bottom: 0pt; position: absolute; padding-right: 0pt; height: 594.38pt; ">
                <DIV style="margin-left: 0pt; color: #000000; font-size: 9pt; font-family: Arial, sans-serif; line-height: 11pt; margin-top: 0pt; margin-bottom: 0pt; text-align: justify; margin-right: 0pt; ">
                    <TABLE style="width: 623.75pt; margin-top: 0pt; margin-bottom: 0pt; table-layout: fixed; border-collapse: collapse; ">
                        <TR style="margin: 0; height: 0; ">
                            <TD style="border: 0; width: 68.75pt; padding: 0; margin: 0; ">
                            </TD>
                            <TD style="border: 0; width: 15.0pt; padding: 0; margin: 0; ">
                            </TD>
                            <TD style="border: 0; width: 412.5pt; padding: 0; margin: 0; ">
                            </TD>
                            <TD style="border: 0; width: 82.5pt; padding: 0; margin: 0; ">
                            </TD>
                            <TD style="border: 0; width: 45.0pt; padding: 0; margin: 0; ">
                            </TD>
                        </TR>
                        <TR style="min-height: 3pt; ">
                            <TD style="border-top: 0pt; padding-top: 1pt; border-right: 0pt; border-left: 0pt; padding-left: 0pt; vertical-align: bottom; padding-bottom: 1pt; border-bottom: 0.5pt solid #000000; padding-right: 0pt; ">
                                <P style="margin-left: 0pt; color: #000000; text-indent: 0pt; font-size: 8pt; font-family: Arial, sans-serif; line-height: normal; margin-top: 0; margin-bottom: 0; text-align: center; margin-right: 0pt; "><FONT style="font-weight: bold; "><B>Shares/$ Par</B></FONT></P>
                            </TD>
                            <TD style="border-top: 0pt; padding-top: 0pt; border-right: 0pt; border-left: 0pt; padding-left: 0pt; vertical-align: top; padding-bottom: 0pt; border-bottom: 0.5pt solid #000000; padding-right: 0pt; ">
                                <P style="margin-left: 0pt; font-size: 1pt; line-height: 1pt; margin-top: 0pt; margin-bottom: 0; margin-right: 0pt; ">&#8203;</P>
                            </TD>
                            <TD style="border-top: 0pt; padding-top: 0pt; border-right: 0pt; border-left: 0pt; padding-left: 0pt; vertical-align: bottom; padding-bottom: 0pt; border-bottom: 0.5pt solid #000000; padding-right: 0pt; ">
                                <P style="margin-left: 0pt; font-size: 1pt; line-height: 1pt; margin-top: 0pt; margin-bottom: 0; margin-right: 0pt; ">&#8203;</P>
                            </TD>
                            <TD style="border-top: 0pt; padding-top: 1pt; border-right: 0pt; border-left: 0pt; padding-left: 0pt; vertical-align: bottom; padding-bottom: 1pt; border-bottom: 0.5pt solid #000000; padding-right: 0pt; ">
                                <P style="margin-left: 0pt; color: #000000; text-indent: 0pt; font-size: 8pt; font-family: Arial, sans-serif; line-height: normal; margin-top: 0; margin-bottom: 0; text-align: center; margin-right: 0pt; "><FONT style="font-weight: bold; "><B>Value</B></FONT></P>
                            </TD>
                            <TD style="border-top: 0pt; padding-top: 0pt; border-right: 0pt; border-left: 0pt; padding-left: 0pt; vertical-align: bottom; padding-bottom: 0pt; border-bottom: 0pt; padding-right: 0pt; ">
                                <P style="margin-left: 0pt; font-size: 1pt; line-height: 1pt; margin-top: 0pt; margin-bottom: 0; margin-right: 0pt; ">&#8203;</P>
                            </TD>
                        </TR>
                        <TR style="min-height: 3pt; ">
                            <TD style="background-color: #cceeff; border-top: 0pt; padding-top: 1pt; border-right: 0pt; border-left: 0pt; padding-left: 0pt; vertical-align: top; padding-bottom: 1pt; border-bottom: 0pt; padding-right: 0pt; ">
                                <P style="margin-left: 0pt; color: #000000; font-size: 9pt; font-family: Arial, sans-serif; line-height: normal; margin-top: 0; margin-bottom: 0; text-align: right; margin-right: 0pt; "><FONT>&#160;</FONT></P>
                            </TD>
                            <TD style="background-color: #cceeff; border-top: 0pt; padding-top: 0pt; border-right: 0pt; border-left: 0pt; padding-left: 0pt; vertical-align: bottom; padding-bottom: 0pt; border-bottom: 0pt; padding-right: 0pt; ">
                                <P style="margin-left: 0pt; font-size: 1pt; line-height: 1pt; margin-top: 0pt; margin-bottom: 0; margin-right: 0pt; ">&#8203;</P>
                            </TD>
                            <TD style="background-color: #cceeff; border-top: 0pt; padding-top: 1pt; border-right: 0pt; border-left: 0pt; padding-left: 0pt; vertical-align: bottom; padding-bottom: 1pt; border-bottom: 0pt; padding-right: 0pt; ">
                                <P style="margin-left: 11.25pt; color: #000000; text-indent: -11.25pt; font-size: 9pt; font-family: Arial, sans-serif; line-height: normal; margin-top: 0; margin-bottom: 0; text-align: left; margin-right: 0pt; "><FONT>Regions Financial Corporation:</FONT></P>
                            </TD>
                            <TD style="background-color: #cceeff; border-top: 0pt; padding-top: 0pt; border-right: 0pt; border-left: 0pt; padding-left: 0pt; vertical-align: bottom; padding-bottom: 0pt; border-bottom: 0pt; padding-right: 0pt; ">
                                <P style="margin-left: 0pt; font-size: 1pt; line-height: 1pt; margin-top: 0pt; margin-bottom: 0; margin-right: 0pt; ">&#8203;</P>
                            </TD>
                            <TD style="background-color: #cceeff; border-top: 0pt; padding-top: 0pt; border-right: 0pt; border-left: 0pt; padding-left: 0pt; vertical-align: bottom; padding-bottom: 0pt; border-bottom: 0pt; padding-right: 0pt; ">
                                <P style="margin-left: 0pt; font-size: 1pt; line-height: 1pt; margin-top: 0pt; margin-bottom: 0; margin-right: 0pt; ">&#8203;</P>
                            </TD>
                        </TR>
                        <TR style="min-height: 3pt; ">
                            <TD style="border-top: 0pt; padding-top: 1pt; border-right: 0pt; border-left: 0pt; padding-left: 0pt; vertical-align: top; padding-bottom: 1pt; border-bottom: 0pt; padding-right: 0pt; ">
                                <P style="margin-left: 0pt; color: #000000; font-size: 9pt; font-family: Arial, sans-serif; line-height: normal; margin-top: 0; margin-bottom: 0; text-align: right; margin-right: 0pt; "><FONT>117,980</FONT></P>
                            </TD>
                            <TD style="border-top: 0pt; padding-top: 0pt; border-right: 0pt; border-left: 0pt; padding-left: 0pt; vertical-align: bottom; padding-bottom: 0pt; border-bottom: 0pt; padding-right: 0pt; ">
                                <P style="margin-left: 0pt; font-size: 1pt; line-height: 1pt; margin-top: 0pt; margin-bottom: 0; margin-right: 0pt; ">&#8203;</P>
                            </TD>
                            <TD style="border-top: 0pt; padding-top: 1pt; border-right: 0pt; border-left: 0pt; padding-left: 0pt; vertical-align: bottom; padding-bottom: 1pt; border-bottom: 0pt; padding-right: 0pt; ">
                                <P style="margin-left: 22.5pt; color: #000000; text-indent: -11.25pt; font-size: 9pt; font-family: Arial, sans-serif; line-height: normal; margin-top: 0; margin-bottom: 0; text-align: left; margin-right: 0pt; "><FONT>5.70% to 08/15/29 then TSFR3M + 3.40961%, Series C </FONT></P>
                            </TD>
                            <TD style="border-top: 0pt; padding-top: 1pt; border-right: 0pt; border-left: 0pt; padding-left: 0pt; vertical-align: bottom; padding-bottom: 1pt; border-bottom: 0pt; padding-right: 0pt; ">
                                <P style="margin-left: 0pt; color: #000000; font-size: 9pt; font-family: Arial, sans-serif; line-height: normal; margin-top: 0; margin-bottom: 0; text-align: right; margin-right: 0pt; "><FONT style="float: left; "><FONT>$</FONT></FONT><FONT style="float: right; "><A name="pfd-nportex_083125a1170"></A><FONT>&#160;2,822,082</FONT></FONT><FONT style="font-size: 9pt; ">&#8203;</FONT>                                    <BR clear="all"></P>
                            </TD>
                            <TD style="border-top: 0pt; padding-top: 1pt; border-right: 0pt; border-left: 0pt; padding-left: 0pt; vertical-align: bottom; padding-bottom: 1pt; border-bottom: 0pt; padding-right: 0pt; ">
                                <P style="margin-left: 0pt; color: #000000; text-indent: 0pt; font-size: 9pt; font-family: Arial, sans-serif; line-height: normal; margin-top: 0; margin-bottom: 0; text-align: left; margin-right: 0pt; "><FONT>*</FONT><SUP style="font-size: 7.0pt; line-height: 7.0pt; ">(1)(2)</SUP><FONT>&#160;</FONT></P>
                            </TD>
                        </TR>
                        <TR style="min-height: 3pt; ">
                            <TD style="background-color: #cceeff; border-top: 0pt; padding-top: 1pt; border-right: 0pt; border-left: 0pt; padding-left: 0pt; vertical-align: top; padding-bottom: 1pt; border-bottom: 0pt; padding-right: 0pt; ">
                                <P style="margin-left: 0pt; color: #000000; font-size: 9pt; font-family: Arial, sans-serif; line-height: normal; margin-top: 0; margin-bottom: 0; text-align: right; margin-right: 0pt; "><FONT>46,000</FONT></P>
                            </TD>
                            <TD style="background-color: #cceeff; border-top: 0pt; padding-top: 0pt; border-right: 0pt; border-left: 0pt; padding-left: 0pt; vertical-align: bottom; padding-bottom: 0pt; border-bottom: 0pt; padding-right: 0pt; ">
                                <P style="margin-left: 0pt; font-size: 1pt; line-height: 1pt; margin-top: 0pt; margin-bottom: 0; margin-right: 0pt; ">&#8203;</P>
                            </TD>
                            <TD style="background-color: #cceeff; border-top: 0pt; padding-top: 1pt; border-right: 0pt; border-left: 0pt; padding-left: 0pt; vertical-align: bottom; padding-bottom: 1pt; border-bottom: 0pt; padding-right: 0pt; ">
                                <P style="margin-left: 22.5pt; color: #000000; text-indent: -11.25pt; font-size: 9pt; font-family: Arial, sans-serif; line-height: normal; margin-top: 0; margin-bottom: 0; text-align: left; margin-right: 0pt; "><FONT>6.95% to 09/15/29 then T5Y + 2.771%, Series F </FONT></P>
                            </TD>
                            <TD style="background-color: #cceeff; border-top: 0pt; padding-top: 1pt; border-right: 0pt; border-left: 0pt; padding-left: 0pt; vertical-align: bottom; padding-bottom: 1pt; border-bottom: 0pt; padding-right: 0pt; ">
                                <P style="margin-left: 0pt; color: #000000; font-size: 9pt; font-family: Arial, sans-serif; line-height: normal; margin-top: 0; margin-bottom: 0; text-align: right; margin-right: 0pt; "><A name="pfd-nportex_083125a1171"></A><FONT>&#160;1,181,740</FONT></P>
                            </TD>
                            <TD style="background-color: #cceeff; border-top: 0pt; padding-top: 1pt; border-right: 0pt; border-left: 0pt; padding-left: 0pt; vertical-align: bottom; padding-bottom: 1pt; border-bottom: 0pt; padding-right: 0pt; ">
                                <P style="margin-left: 0pt; color: #000000; text-indent: 0pt; font-size: 9pt; font-family: Arial, sans-serif; line-height: normal; margin-top: 0; margin-bottom: 0; text-align: left; margin-right: 0pt; "><FONT>*</FONT><SUP style="font-size: 7.0pt; line-height: 7.0pt; ">(1)</SUP><FONT>&#160;</FONT></P>
                            </TD>
                        </TR>
                        <TR style="min-height: 3pt; ">
                            <TD style="border-top: 0pt; padding-top: 1pt; border-right: 0pt; border-left: 0pt; padding-left: 0pt; vertical-align: top; padding-bottom: 1pt; border-bottom: 0pt; padding-right: 0pt; ">
                                <P style="margin-left: 0pt; color: #000000; font-size: 9pt; font-family: Arial, sans-serif; line-height: normal; margin-top: 0; margin-bottom: 0; text-align: right; margin-right: 0pt; "><FONT style="float: left; "><FONT>$</FONT></FONT><FONT style="float: right; "><FONT>800,000</FONT></FONT><FONT style="font-size: 9pt; ">&#8203;</FONT>                                    <BR clear="all"></P>
                            </TD>
                            <TD style="border-top: 0pt; padding-top: 0pt; border-right: 0pt; border-left: 0pt; padding-left: 0pt; vertical-align: bottom; padding-bottom: 0pt; border-bottom: 0pt; padding-right: 0pt; ">
                                <P style="margin-left: 0pt; font-size: 1pt; line-height: 1pt; margin-top: 0pt; margin-bottom: 0; margin-right: 0pt; ">&#8203;</P>
                            </TD>
                            <TD style="border-top: 0pt; padding-top: 1pt; border-right: 0pt; border-left: 0pt; padding-left: 0pt; vertical-align: bottom; padding-bottom: 1pt; border-bottom: 0pt; padding-right: 0pt; ">
                                <P style="margin-left: 11.25pt; color: #000000; text-indent: -11.25pt; font-size: 9pt; font-family: Arial, sans-serif; line-height: normal; margin-top: 0; margin-bottom: 0; text-align: left; margin-right: 0pt; "><FONT>State Street Corporation, 6.70% to 03/15/29 then T5Y + 2.613%, Series I </FONT></P>
                            </TD>
                            <TD style="border-top: 0pt; padding-top: 1pt; border-right: 0pt; border-left: 0pt; padding-left: 0pt; vertical-align: bottom; padding-bottom: 1pt; border-bottom: 0pt; padding-right: 0pt; ">
                                <P style="margin-left: 0pt; color: #000000; font-size: 9pt; font-family: Arial, sans-serif; line-height: normal; margin-top: 0; margin-bottom: 0; text-align: right; margin-right: 0pt; "><A name="pfd-nportex_083125a1172"></A><FONT>&#160;829,978</FONT></P>
                            </TD>
                            <TD style="border-top: 0pt; padding-top: 1pt; border-right: 0pt; border-left: 0pt; padding-left: 0pt; vertical-align: bottom; padding-bottom: 1pt; border-bottom: 0pt; padding-right: 0pt; ">
                                <P style="margin-left: 0pt; color: #000000; text-indent: 0pt; font-size: 9pt; font-family: Arial, sans-serif; line-height: normal; margin-top: 0; margin-bottom: 0; text-align: left; margin-right: 0pt; "><FONT>*</FONT><SUP style="font-size: 7.0pt; line-height: 7.0pt; ">(1)(2)(3)</SUP><FONT>&#160;</FONT></P>
                            </TD>
                        </TR>
                        <TR style="min-height: 3pt; ">
                            <TD style="background-color: #cceeff; border-top: 0pt; padding-top: 1pt; border-right: 0pt; border-left: 0pt; padding-left: 0pt; vertical-align: top; padding-bottom: 1pt; border-bottom: 0pt; padding-right: 0pt; ">
                                <P style="margin-left: 0pt; color: #000000; font-size: 9pt; font-family: Arial, sans-serif; line-height: normal; margin-top: 0; margin-bottom: 0; text-align: right; margin-right: 0pt; "><FONT>&#160;</FONT></P>
                            </TD>
                            <TD style="background-color: #cceeff; border-top: 0pt; padding-top: 0pt; border-right: 0pt; border-left: 0pt; padding-left: 0pt; vertical-align: bottom; padding-bottom: 0pt; border-bottom: 0pt; padding-right: 0pt; ">
                                <P style="margin-left: 0pt; font-size: 1pt; line-height: 1pt; margin-top: 0pt; margin-bottom: 0; margin-right: 0pt; ">&#8203;</P>
                            </TD>
                            <TD style="background-color: #cceeff; border-top: 0pt; padding-top: 1pt; border-right: 0pt; border-left: 0pt; padding-left: 0pt; vertical-align: bottom; padding-bottom: 1pt; border-bottom: 0pt; padding-right: 0pt; ">
                                <P style="margin-left: 11.25pt; color: #000000; text-indent: -11.25pt; font-size: 9pt; font-family: Arial, sans-serif; line-height: normal; margin-top: 0; margin-bottom: 0; text-align: left; margin-right: 0pt; "><FONT>Synchrony Financial:</FONT></P>
                            </TD>
                            <TD style="background-color: #cceeff; border-top: 0pt; padding-top: 0pt; border-right: 0pt; border-left: 0pt; padding-left: 0pt; vertical-align: bottom; padding-bottom: 0pt; border-bottom: 0pt; padding-right: 0pt; ">
                                <P style="margin-left: 0pt; font-size: 1pt; line-height: 1pt; margin-top: 0pt; margin-bottom: 0; margin-right: 0pt; ">&#8203;</P>
                            </TD>
                            <TD style="background-color: #cceeff; border-top: 0pt; padding-top: 0pt; border-right: 0pt; border-left: 0pt; padding-left: 0pt; vertical-align: bottom; padding-bottom: 0pt; border-bottom: 0pt; padding-right: 0pt; ">
                                <P style="margin-left: 0pt; font-size: 1pt; line-height: 1pt; margin-top: 0pt; margin-bottom: 0; margin-right: 0pt; ">&#8203;</P>
                            </TD>
                        </TR>
                        <TR style="min-height: 3pt; ">
                            <TD style="border-top: 0pt; padding-top: 1pt; border-right: 0pt; border-left: 0pt; padding-left: 0pt; vertical-align: top; padding-bottom: 1pt; border-bottom: 0pt; padding-right: 0pt; ">
                                <P style="margin-left: 0pt; color: #000000; font-size: 9pt; font-family: Arial, sans-serif; line-height: normal; margin-top: 0; margin-bottom: 0; text-align: right; margin-right: 0pt; "><FONT>41,500</FONT></P>
                            </TD>
                            <TD style="border-top: 0pt; padding-top: 0pt; border-right: 0pt; border-left: 0pt; padding-left: 0pt; vertical-align: bottom; padding-bottom: 0pt; border-bottom: 0pt; padding-right: 0pt; ">
                                <P style="margin-left: 0pt; font-size: 1pt; line-height: 1pt; margin-top: 0pt; margin-bottom: 0; margin-right: 0pt; ">&#8203;</P>
                            </TD>
                            <TD style="border-top: 0pt; padding-top: 1pt; border-right: 0pt; border-left: 0pt; padding-left: 0pt; vertical-align: bottom; padding-bottom: 1pt; border-bottom: 0pt; padding-right: 0pt; ">
                                <P style="margin-left: 22.5pt; color: #000000; text-indent: -11.25pt; font-size: 9pt; font-family: Arial, sans-serif; line-height: normal; margin-top: 0; margin-bottom: 0; text-align: left; margin-right: 0pt; "><FONT>5.625%, Series A </FONT></P>
                            </TD>
                            <TD style="border-top: 0pt; padding-top: 1pt; border-right: 0pt; border-left: 0pt; padding-left: 0pt; vertical-align: bottom; padding-bottom: 1pt; border-bottom: 0pt; padding-right: 0pt; ">
                                <P style="margin-left: 0pt; color: #000000; font-size: 9pt; font-family: Arial, sans-serif; line-height: normal; margin-top: 0; margin-bottom: 0; text-align: right; margin-right: 0pt; "><A name="pfd-nportex_083125a1173"></A><FONT>&#160;814,230</FONT></P>
                            </TD>
                            <TD style="border-top: 0pt; padding-top: 1pt; border-right: 0pt; border-left: 0pt; padding-left: 0pt; vertical-align: bottom; padding-bottom: 1pt; border-bottom: 0pt; padding-right: 0pt; ">
                                <P style="margin-left: 0pt; color: #000000; text-indent: 0pt; font-size: 9pt; font-family: Arial, sans-serif; line-height: normal; margin-top: 0; margin-bottom: 0; text-align: left; margin-right: 0pt; "><FONT>*</FONT><SUP style="font-size: 7.0pt; line-height: 7.0pt; ">(1)(2)</SUP><FONT>&#160;</FONT></P>
                            </TD>
                        </TR>
                        <TR style="min-height: 3pt; ">
                            <TD style="background-color: #cceeff; border-top: 0pt; padding-top: 1pt; border-right: 0pt; border-left: 0pt; padding-left: 0pt; vertical-align: top; padding-bottom: 1pt; border-bottom: 0pt; padding-right: 0pt; ">
                                <P style="margin-left: 0pt; color: #000000; font-size: 9pt; font-family: Arial, sans-serif; line-height: normal; margin-top: 0; margin-bottom: 0; text-align: right; margin-right: 0pt; "><FONT>50,500</FONT></P>
                            </TD>
                            <TD style="background-color: #cceeff; border-top: 0pt; padding-top: 0pt; border-right: 0pt; border-left: 0pt; padding-left: 0pt; vertical-align: bottom; padding-bottom: 0pt; border-bottom: 0pt; padding-right: 0pt; ">
                                <P style="margin-left: 0pt; font-size: 1pt; line-height: 1pt; margin-top: 0pt; margin-bottom: 0; margin-right: 0pt; ">&#8203;</P>
                            </TD>
                            <TD style="background-color: #cceeff; border-top: 0pt; padding-top: 1pt; border-right: 0pt; border-left: 0pt; padding-left: 0pt; vertical-align: bottom; padding-bottom: 1pt; border-bottom: 0pt; padding-right: 0pt; ">
                                <P style="margin-left: 22.5pt; color: #000000; text-indent: -11.25pt; font-size: 9pt; font-family: Arial, sans-serif; line-height: normal; margin-top: 0; margin-bottom: 0; text-align: left; margin-right: 0pt; "><FONT>8.25% to 05/15/29 then T5Y + 4.044%, Series B </FONT></P>
                            </TD>
                            <TD style="background-color: #cceeff; border-top: 0pt; padding-top: 1pt; border-right: 0pt; border-left: 0pt; padding-left: 0pt; vertical-align: bottom; padding-bottom: 1pt; border-bottom: 0pt; padding-right: 0pt; ">
                                <P style="margin-left: 0pt; color: #000000; font-size: 9pt; font-family: Arial, sans-serif; line-height: normal; margin-top: 0; margin-bottom: 0; text-align: right; margin-right: 0pt; "><A name="pfd-nportex_083125a1174"></A><FONT>&#160;1,305,425</FONT></P>
                            </TD>
                            <TD style="background-color: #cceeff; border-top: 0pt; padding-top: 1pt; border-right: 0pt; border-left: 0pt; padding-left: 0pt; vertical-align: bottom; padding-bottom: 1pt; border-bottom: 0pt; padding-right: 0pt; ">
                                <P style="margin-left: 0pt; color: #000000; text-indent: 0pt; font-size: 9pt; font-family: Arial, sans-serif; line-height: normal; margin-top: 0; margin-bottom: 0; text-align: left; margin-right: 0pt; "><FONT>*</FONT><SUP style="font-size: 7.0pt; line-height: 7.0pt; ">(1)</SUP><FONT>&#160;</FONT></P>
                            </TD>
                        </TR>
                        <TR style="min-height: 3pt; ">
                            <TD style="border-top: 0pt; padding-top: 1pt; border-right: 0pt; border-left: 0pt; padding-left: 0pt; vertical-align: top; padding-bottom: 1pt; border-bottom: 0pt; padding-right: 0pt; ">
                                <P style="margin-left: 0pt; color: #000000; font-size: 9pt; font-family: Arial, sans-serif; line-height: normal; margin-top: 0; margin-bottom: 0; text-align: right; margin-right: 0pt; "><FONT>92,727</FONT></P>
                            </TD>
                            <TD style="border-top: 0pt; padding-top: 0pt; border-right: 0pt; border-left: 0pt; padding-left: 0pt; vertical-align: bottom; padding-bottom: 0pt; border-bottom: 0pt; padding-right: 0pt; ">
                                <P style="margin-left: 0pt; font-size: 1pt; line-height: 1pt; margin-top: 0pt; margin-bottom: 0; margin-right: 0pt; ">&#8203;</P>
                            </TD>
                            <TD style="border-top: 0pt; padding-top: 1pt; border-right: 0pt; border-left: 0pt; padding-left: 0pt; vertical-align: bottom; padding-bottom: 1pt; border-bottom: 0pt; padding-right: 0pt; ">
                                <P style="margin-left: 11.25pt; color: #000000; text-indent: -11.25pt; font-size: 9pt; font-family: Arial, sans-serif; line-height: normal; margin-top: 0; margin-bottom: 0; text-align: left; margin-right: 0pt; "><FONT>Synovus Financial Corporation, 8.397% to 07/01/29 then T5Y + 4.127%, Series E </FONT></P>
                            </TD>
                            <TD style="border-top: 0pt; padding-top: 1pt; border-right: 0pt; border-left: 0pt; padding-left: 0pt; vertical-align: bottom; padding-bottom: 1pt; border-bottom: 0pt; padding-right: 0pt; ">
                                <P style="margin-left: 0pt; color: #000000; font-size: 9pt; font-family: Arial, sans-serif; line-height: normal; margin-top: 0; margin-bottom: 0; text-align: right; margin-right: 0pt; "><A name="pfd-nportex_083125a1175"></A><FONT>&#160;2,451,702</FONT></P>
                            </TD>
                            <TD style="border-top: 0pt; padding-top: 1pt; border-right: 0pt; border-left: 0pt; padding-left: 0pt; vertical-align: bottom; padding-bottom: 1pt; border-bottom: 0pt; padding-right: 0pt; ">
                                <P style="margin-left: 0pt; color: #000000; text-indent: 0pt; font-size: 9pt; font-family: Arial, sans-serif; line-height: normal; margin-top: 0; margin-bottom: 0; text-align: left; margin-right: 0pt; "><FONT>*</FONT><SUP style="font-size: 7.0pt; line-height: 7.0pt; ">(1)(2)</SUP><FONT>&#160;</FONT></P>
                            </TD>
                        </TR>
                        <TR style="min-height: 3pt; ">
                            <TD style="background-color: #cceeff; border-top: 0pt; padding-top: 1pt; border-right: 0pt; border-left: 0pt; padding-left: 0pt; vertical-align: top; padding-bottom: 1pt; border-bottom: 0pt; padding-right: 0pt; ">
                                <P style="margin-left: 0pt; color: #000000; font-size: 9pt; font-family: Arial, sans-serif; line-height: normal; margin-top: 0; margin-bottom: 0; text-align: right; margin-right: 0pt; "><FONT>60,200</FONT></P>
                            </TD>
                            <TD style="background-color: #cceeff; border-top: 0pt; padding-top: 0pt; border-right: 0pt; border-left: 0pt; padding-left: 0pt; vertical-align: bottom; padding-bottom: 0pt; border-bottom: 0pt; padding-right: 0pt; ">
                                <P style="margin-left: 0pt; font-size: 1pt; line-height: 1pt; margin-top: 0pt; margin-bottom: 0; margin-right: 0pt; ">&#8203;</P>
                            </TD>
                            <TD style="background-color: #cceeff; border-top: 0pt; padding-top: 1pt; border-right: 0pt; border-left: 0pt; padding-left: 0pt; vertical-align: bottom; padding-bottom: 1pt; border-bottom: 0pt; padding-right: 0pt; ">
                                <P style="margin-left: 11.25pt; color: #000000; text-indent: -11.25pt; font-size: 9pt; font-family: Arial, sans-serif; line-height: normal; margin-top: 0; margin-bottom: 0; text-align: left; margin-right: 0pt; "><FONT>Texas Capital Bancshares Inc., 5.75%, Series B </FONT></P>
                            </TD>
                            <TD style="background-color: #cceeff; border-top: 0pt; padding-top: 1pt; border-right: 0pt; border-left: 0pt; padding-left: 0pt; vertical-align: bottom; padding-bottom: 1pt; border-bottom: 0pt; padding-right: 0pt; ">
                                <P style="margin-left: 0pt; color: #000000; font-size: 9pt; font-family: Arial, sans-serif; line-height: normal; margin-top: 0; margin-bottom: 0; text-align: right; margin-right: 0pt; "><A name="pfd-nportex_083125a1176"></A><FONT>&#160;1,241,926</FONT></P>
                            </TD>
                            <TD style="background-color: #cceeff; border-top: 0pt; padding-top: 1pt; border-right: 0pt; border-left: 0pt; padding-left: 0pt; vertical-align: bottom; padding-bottom: 1pt; border-bottom: 0pt; padding-right: 0pt; ">
                                <P style="margin-left: 0pt; color: #000000; text-indent: 0pt; font-size: 9pt; font-family: Arial, sans-serif; line-height: normal; margin-top: 0; margin-bottom: 0; text-align: left; margin-right: 0pt; "><FONT>*</FONT><SUP style="font-size: 7.0pt; line-height: 7.0pt; ">(1)(2)</SUP><FONT>&#160;</FONT></P>
                            </TD>
                        </TR>
                        <TR style="min-height: 3pt; ">
                            <TD style="border-top: 0pt; padding-top: 1pt; border-right: 0pt; border-left: 0pt; padding-left: 0pt; vertical-align: top; padding-bottom: 1pt; border-bottom: 0pt; padding-right: 0pt; ">
                                <P style="margin-left: 0pt; color: #000000; font-size: 9pt; font-family: Arial, sans-serif; line-height: normal; margin-top: 0; margin-bottom: 0; text-align: right; margin-right: 0pt; "><FONT>&#160;</FONT></P>
                            </TD>
                            <TD style="border-top: 0pt; padding-top: 0pt; border-right: 0pt; border-left: 0pt; padding-left: 0pt; vertical-align: bottom; padding-bottom: 0pt; border-bottom: 0pt; padding-right: 0pt; ">
                                <P style="margin-left: 0pt; font-size: 1pt; line-height: 1pt; margin-top: 0pt; margin-bottom: 0; margin-right: 0pt; ">&#8203;</P>
                            </TD>
                            <TD style="border-top: 0pt; padding-top: 1pt; border-right: 0pt; border-left: 0pt; padding-left: 0pt; vertical-align: bottom; padding-bottom: 1pt; border-bottom: 0pt; padding-right: 0pt; ">
                                <P style="margin-left: 11.25pt; color: #000000; text-indent: -11.25pt; font-size: 9pt; font-family: Arial, sans-serif; line-height: normal; margin-top: 0; margin-bottom: 0; text-align: left; margin-right: 0pt; "><FONT>Truist Financial Corporation:</FONT></P>
                            </TD>
                            <TD style="border-top: 0pt; padding-top: 0pt; border-right: 0pt; border-left: 0pt; padding-left: 0pt; vertical-align: bottom; padding-bottom: 0pt; border-bottom: 0pt; padding-right: 0pt; ">
                                <P style="margin-left: 0pt; font-size: 1pt; line-height: 1pt; margin-top: 0pt; margin-bottom: 0; margin-right: 0pt; ">&#8203;</P>
                            </TD>
                            <TD style="border-top: 0pt; padding-top: 0pt; border-right: 0pt; border-left: 0pt; padding-left: 0pt; vertical-align: bottom; padding-bottom: 0pt; border-bottom: 0pt; padding-right: 0pt; ">
                                <P style="margin-left: 0pt; font-size: 1pt; line-height: 1pt; margin-top: 0pt; margin-bottom: 0; margin-right: 0pt; ">&#8203;</P>
                            </TD>
                        </TR>
                        <TR style="min-height: 3pt; ">
                            <TD style="background-color: #cceeff; border-top: 0pt; padding-top: 1pt; border-right: 0pt; border-left: 0pt; padding-left: 0pt; vertical-align: top; padding-bottom: 1pt; border-bottom: 0pt; padding-right: 0pt; ">
                                <P style="margin-left: 0pt; color: #000000; font-size: 9pt; font-family: Arial, sans-serif; line-height: normal; margin-top: 0; margin-bottom: 0; text-align: right; margin-right: 0pt; "><FONT style="float: left; "><FONT>$</FONT></FONT><FONT style="float: right; "><FONT>810,000</FONT></FONT><FONT style="font-size: 9pt; ">&#8203;</FONT>                                    <BR clear="all"></P>
                            </TD>
                            <TD style="background-color: #cceeff; border-top: 0pt; padding-top: 0pt; border-right: 0pt; border-left: 0pt; padding-left: 0pt; vertical-align: bottom; padding-bottom: 0pt; border-bottom: 0pt; padding-right: 0pt; ">
                                <P style="margin-left: 0pt; font-size: 1pt; line-height: 1pt; margin-top: 0pt; margin-bottom: 0; margin-right: 0pt; ">&#8203;</P>
                            </TD>
                            <TD style="background-color: #cceeff; border-top: 0pt; padding-top: 1pt; border-right: 0pt; border-left: 0pt; padding-left: 0pt; vertical-align: bottom; padding-bottom: 1pt; border-bottom: 0pt; padding-right: 0pt; ">
                                <P style="margin-left: 22.5pt; color: #000000; text-indent: -11.25pt; font-size: 9pt; font-family: Arial, sans-serif; line-height: normal; margin-top: 0; margin-bottom: 0; text-align: left; margin-right: 0pt; "><FONT>4.95% to 12/01/25 then T5Y + 4.605%, Series P </FONT></P>
                            </TD>
                            <TD style="background-color: #cceeff; border-top: 0pt; padding-top: 1pt; border-right: 0pt; border-left: 0pt; padding-left: 0pt; vertical-align: bottom; padding-bottom: 1pt; border-bottom: 0pt; padding-right: 0pt; ">
                                <P style="margin-left: 0pt; color: #000000; font-size: 9pt; font-family: Arial, sans-serif; line-height: normal; margin-top: 0; margin-bottom: 0; text-align: right; margin-right: 0pt; "><A name="pfd-nportex_083125a1177"></A><FONT>&#160;808,259</FONT></P>
                            </TD>
                            <TD style="background-color: #cceeff; border-top: 0pt; padding-top: 1pt; border-right: 0pt; border-left: 0pt; padding-left: 0pt; vertical-align: bottom; padding-bottom: 1pt; border-bottom: 0pt; padding-right: 0pt; ">
                                <P style="margin-left: 0pt; color: #000000; text-indent: 0pt; font-size: 9pt; font-family: Arial, sans-serif; line-height: normal; margin-top: 0; margin-bottom: 0; text-align: left; margin-right: 0pt; "><FONT>*</FONT><SUP style="font-size: 7.0pt; line-height: 7.0pt; ">(1)(2)</SUP><FONT>&#160;</FONT></P>
                            </TD>
                        </TR>
                        <TR style="min-height: 3pt; ">
                            <TD style="border-top: 0pt; padding-top: 1pt; border-right: 0pt; border-left: 0pt; padding-left: 0pt; vertical-align: top; padding-bottom: 1pt; border-bottom: 0pt; padding-right: 0pt; ">
                                <P style="margin-left: 0pt; color: #000000; font-size: 9pt; font-family: Arial, sans-serif; line-height: normal; margin-top: 0; margin-bottom: 0; text-align: right; margin-right: 0pt; "><FONT style="float: left; "><FONT>$</FONT></FONT><FONT style="float: right; "><FONT>440,000</FONT></FONT><FONT style="font-size: 9pt; ">&#8203;</FONT>                                    <BR clear="all"></P>
                            </TD>
                            <TD style="border-top: 0pt; padding-top: 0pt; border-right: 0pt; border-left: 0pt; padding-left: 0pt; vertical-align: bottom; padding-bottom: 0pt; border-bottom: 0pt; padding-right: 0pt; ">
                                <P style="margin-left: 0pt; font-size: 1pt; line-height: 1pt; margin-top: 0pt; margin-bottom: 0; margin-right: 0pt; ">&#8203;</P>
                            </TD>
                            <TD style="border-top: 0pt; padding-top: 1pt; border-right: 0pt; border-left: 0pt; padding-left: 0pt; vertical-align: bottom; padding-bottom: 1pt; border-bottom: 0pt; padding-right: 0pt; ">
                                <P style="margin-left: 22.5pt; color: #000000; text-indent: -11.25pt; font-size: 9pt; font-family: Arial, sans-serif; line-height: normal; margin-top: 0; margin-bottom: 0; text-align: left; margin-right: 0pt; "><FONT>5.10% to 09/01/30 then T10Y + 4.349%, Series Q </FONT></P>
                            </TD>
                            <TD style="border-top: 0pt; padding-top: 1pt; border-right: 0pt; border-left: 0pt; padding-left: 0pt; vertical-align: bottom; padding-bottom: 1pt; border-bottom: 0pt; padding-right: 0pt; ">
                                <P style="margin-left: 0pt; color: #000000; font-size: 9pt; font-family: Arial, sans-serif; line-height: normal; margin-top: 0; margin-bottom: 0; text-align: right; margin-right: 0pt; "><A name="pfd-nportex_083125a1178"></A><FONT>&#160;437,283</FONT></P>
                            </TD>
                            <TD style="border-top: 0pt; padding-top: 1pt; border-right: 0pt; border-left: 0pt; padding-left: 0pt; vertical-align: bottom; padding-bottom: 1pt; border-bottom: 0pt; padding-right: 0pt; ">
                                <P style="margin-left: 0pt; color: #000000; text-indent: 0pt; font-size: 9pt; font-family: Arial, sans-serif; line-height: normal; margin-top: 0; margin-bottom: 0; text-align: left; margin-right: 0pt; "><FONT>*</FONT><SUP style="font-size: 7.0pt; line-height: 7.0pt; ">(1)(2)</SUP><FONT>&#160;</FONT></P>
                            </TD>
                        </TR>
                        <TR style="min-height: 3pt; ">
                            <TD style="background-color: #cceeff; border-top: 0pt; padding-top: 1pt; border-right: 0pt; border-left: 0pt; padding-left: 0pt; vertical-align: top; padding-bottom: 1pt; border-bottom: 0pt; padding-right: 0pt; ">
                                <P style="margin-left: 0pt; color: #000000; font-size: 9pt; font-family: Arial, sans-serif; line-height: normal; margin-top: 0; margin-bottom: 0; text-align: right; margin-right: 0pt; "><FONT>38,400</FONT></P>
                            </TD>
                            <TD style="background-color: #cceeff; border-top: 0pt; padding-top: 0pt; border-right: 0pt; border-left: 0pt; padding-left: 0pt; vertical-align: bottom; padding-bottom: 0pt; border-bottom: 0pt; padding-right: 0pt; ">
                                <P style="margin-left: 0pt; font-size: 1pt; line-height: 1pt; margin-top: 0pt; margin-bottom: 0; margin-right: 0pt; ">&#8203;</P>
                            </TD>
                            <TD style="background-color: #cceeff; border-top: 0pt; padding-top: 1pt; border-right: 0pt; border-left: 0pt; padding-left: 0pt; vertical-align: bottom; padding-bottom: 1pt; border-bottom: 0pt; padding-right: 0pt; ">
                                <P style="margin-left: 11.25pt; color: #000000; text-indent: -11.25pt; font-size: 9pt; font-family: Arial, sans-serif; line-height: normal; margin-top: 0; margin-bottom: 0; text-align: left; margin-right: 0pt; "><FONT>UMB Financial Corporation, 7.75% to 07/15/30 then T5Y + 3.743%, Series B </FONT></P>
                            </TD>
                            <TD style="background-color: #cceeff; border-top: 0pt; padding-top: 1pt; border-right: 0pt; border-left: 0pt; padding-left: 0pt; vertical-align: bottom; padding-bottom: 1pt; border-bottom: 0pt; padding-right: 0pt; ">
                                <P style="margin-left: 0pt; color: #000000; font-size: 9pt; font-family: Arial, sans-serif; line-height: normal; margin-top: 0; margin-bottom: 0; text-align: right; margin-right: 0pt; "><A name="pfd-nportex_083125a1179"></A><FONT>&#160;1,008,000</FONT></P>
                            </TD>
                            <TD style="background-color: #cceeff; border-top: 0pt; padding-top: 1pt; border-right: 0pt; border-left: 0pt; padding-left: 0pt; vertical-align: bottom; padding-bottom: 1pt; border-bottom: 0pt; padding-right: 0pt; ">
                                <P style="margin-left: 0pt; color: #000000; text-indent: 0pt; font-size: 9pt; font-family: Arial, sans-serif; line-height: normal; margin-top: 0; margin-bottom: 0; text-align: left; margin-right: 0pt; "><FONT>*</FONT><SUP style="font-size: 7.0pt; line-height: 7.0pt; ">(1)</SUP><FONT>&#160;</FONT></P>
                            </TD>
                        </TR>
                        <TR style="min-height: 3pt; ">
                            <TD style="border-top: 0pt; padding-top: 1pt; border-right: 0pt; border-left: 0pt; padding-left: 0pt; vertical-align: top; padding-bottom: 1pt; border-bottom: 0pt; padding-right: 0pt; ">
                                <P style="margin-left: 0pt; color: #000000; font-size: 9pt; font-family: Arial, sans-serif; line-height: normal; margin-top: 0; margin-bottom: 0; text-align: right; margin-right: 0pt; "><FONT>&#160;</FONT></P>
                            </TD>
                            <TD style="border-top: 0pt; padding-top: 0pt; border-right: 0pt; border-left: 0pt; padding-left: 0pt; vertical-align: bottom; padding-bottom: 0pt; border-bottom: 0pt; padding-right: 0pt; ">
                                <P style="margin-left: 0pt; font-size: 1pt; line-height: 1pt; margin-top: 0pt; margin-bottom: 0; margin-right: 0pt; ">&#8203;</P>
                            </TD>
                            <TD style="border-top: 0pt; padding-top: 1pt; border-right: 0pt; border-left: 0pt; padding-left: 0pt; vertical-align: bottom; padding-bottom: 1pt; border-bottom: 0pt; padding-right: 0pt; ">
                                <P style="margin-left: 11.25pt; color: #000000; text-indent: -11.25pt; font-size: 9pt; font-family: Arial, sans-serif; line-height: normal; margin-top: 0; margin-bottom: 0; text-align: left; margin-right: 0pt; "><FONT>Valley National Bancorp:</FONT></P>
                            </TD>
                            <TD style="border-top: 0pt; padding-top: 0pt; border-right: 0pt; border-left: 0pt; padding-left: 0pt; vertical-align: bottom; padding-bottom: 0pt; border-bottom: 0pt; padding-right: 0pt; ">
                                <P style="margin-left: 0pt; font-size: 1pt; line-height: 1pt; margin-top: 0pt; margin-bottom: 0; margin-right: 0pt; ">&#8203;</P>
                            </TD>
                            <TD style="border-top: 0pt; padding-top: 0pt; border-right: 0pt; border-left: 0pt; padding-left: 0pt; vertical-align: bottom; padding-bottom: 0pt; border-bottom: 0pt; padding-right: 0pt; ">
                                <P style="margin-left: 0pt; font-size: 1pt; line-height: 1pt; margin-top: 0pt; margin-bottom: 0; margin-right: 0pt; ">&#8203;</P>
                            </TD>
                        </TR>
                        <TR style="min-height: 3pt; ">
                            <TD style="background-color: #cceeff; border-top: 0pt; padding-top: 1pt; border-right: 0pt; border-left: 0pt; padding-left: 0pt; vertical-align: top; padding-bottom: 1pt; border-bottom: 0pt; padding-right: 0pt; ">
                                <P style="margin-left: 0pt; color: #000000; font-size: 9pt; font-family: Arial, sans-serif; line-height: normal; margin-top: 0; margin-bottom: 0; text-align: right; margin-right: 0pt; "><FONT>6,700</FONT></P>
                            </TD>
                            <TD style="background-color: #cceeff; border-top: 0pt; padding-top: 0pt; border-right: 0pt; border-left: 0pt; padding-left: 0pt; vertical-align: bottom; padding-bottom: 0pt; border-bottom: 0pt; padding-right: 0pt; ">
                                <P style="margin-left: 0pt; font-size: 1pt; line-height: 1pt; margin-top: 0pt; margin-bottom: 0; margin-right: 0pt; ">&#8203;</P>
                            </TD>
                            <TD style="background-color: #cceeff; border-top: 0pt; padding-top: 1pt; border-right: 0pt; border-left: 0pt; padding-left: 0pt; vertical-align: bottom; padding-bottom: 1pt; border-bottom: 0pt; padding-right: 0pt; ">
                                <P style="margin-left: 22.5pt; color: #000000; text-indent: -11.25pt; font-size: 9pt; font-family: Arial, sans-serif; line-height: normal; margin-top: 0; margin-bottom: 0; text-align: left; margin-right: 0pt; "><FONT>8.25% to 09/30/29 then T5Y + 4.182%, Series C </FONT></P>
                            </TD>
                            <TD style="background-color: #cceeff; border-top: 0pt; padding-top: 1pt; border-right: 0pt; border-left: 0pt; padding-left: 0pt; vertical-align: bottom; padding-bottom: 1pt; border-bottom: 0pt; padding-right: 0pt; ">
                                <P style="margin-left: 0pt; color: #000000; font-size: 9pt; font-family: Arial, sans-serif; line-height: normal; margin-top: 0; margin-bottom: 0; text-align: right; margin-right: 0pt; "><A name="pfd-nportex_083125a1181"></A><FONT>172,123</FONT></P>
                            </TD>
                            <TD style="background-color: #cceeff; border-top: 0pt; padding-top: 1pt; border-right: 0pt; border-left: 0pt; padding-left: 0pt; vertical-align: bottom; padding-bottom: 1pt; border-bottom: 0pt; padding-right: 0pt; ">
                                <P style="margin-left: 0pt; color: #000000; text-indent: 0pt; font-size: 9pt; font-family: Arial, sans-serif; line-height: normal; margin-top: 0; margin-bottom: 0; text-align: left; margin-right: 0pt; "><FONT>*</FONT><SUP style="font-size: 7.0pt; line-height: 7.0pt; ">(1)</SUP><FONT>&#160;</FONT></P>
                            </TD>
                        </TR>
                        <TR style="min-height: 3pt; ">
                            <TD style="border-top: 0pt; padding-top: 1pt; border-right: 0pt; border-left: 0pt; padding-left: 0pt; vertical-align: top; padding-bottom: 1pt; border-bottom: 0pt; padding-right: 0pt; ">
                                <P style="margin-left: 0pt; color: #000000; font-size: 9pt; font-family: Arial, sans-serif; line-height: normal; margin-top: 0; margin-bottom: 0; text-align: right; margin-right: 0pt; "><FONT>29,400</FONT></P>
                            </TD>
                            <TD style="border-top: 0pt; padding-top: 0pt; border-right: 0pt; border-left: 0pt; padding-left: 0pt; vertical-align: bottom; padding-bottom: 0pt; border-bottom: 0pt; padding-right: 0pt; ">
                                <P style="margin-left: 0pt; font-size: 1pt; line-height: 1pt; margin-top: 0pt; margin-bottom: 0; margin-right: 0pt; ">&#8203;</P>
                            </TD>
                            <TD style="border-top: 0pt; padding-top: 1pt; border-right: 0pt; border-left: 0pt; padding-left: 0pt; vertical-align: bottom; padding-bottom: 1pt; border-bottom: 0pt; padding-right: 0pt; ">
                                <P style="margin-left: 22.5pt; color: #000000; text-indent: -11.25pt; font-size: 9pt; font-family: Arial, sans-serif; line-height: normal; margin-top: 0; margin-bottom: 0; text-align: left; margin-right: 0pt; "><FONT>TSFR3M + 3.8396%, 8.13522%</FONT><SUP style="font-size: 7.0pt; line-height: 7.0pt; ">(4)</SUP><FONT>, Series B </FONT></P>
                            </TD>
                            <TD style="border-top: 0pt; padding-top: 1pt; border-right: 0pt; border-left: 0pt; padding-left: 0pt; vertical-align: bottom; padding-bottom: 1pt; border-bottom: 0pt; padding-right: 0pt; ">
                                <P style="margin-left: 0pt; color: #000000; font-size: 9pt; font-family: Arial, sans-serif; line-height: normal; margin-top: 0; margin-bottom: 0; text-align: right; margin-right: 0pt; "><A name="pfd-nportex_083125a1182"></A><FONT>&#160;732,648</FONT></P>
                            </TD>
                            <TD style="border-top: 0pt; padding-top: 1pt; border-right: 0pt; border-left: 0pt; padding-left: 0pt; vertical-align: bottom; padding-bottom: 1pt; border-bottom: 0pt; padding-right: 0pt; ">
                                <P style="margin-left: 0pt; color: #000000; text-indent: 0pt; font-size: 9pt; font-family: Arial, sans-serif; line-height: normal; margin-top: 0; margin-bottom: 0; text-align: left; margin-right: 0pt; "><FONT>*</FONT><SUP style="font-size: 7.0pt; line-height: 7.0pt; ">(1)(2)</SUP><FONT>&#160;</FONT></P>
                            </TD>
                        </TR>
                        <TR style="min-height: 3pt; ">
                            <TD style="background-color: #cceeff; border-top: 0pt; padding-top: 1pt; border-right: 0pt; border-left: 0pt; padding-left: 0pt; vertical-align: top; padding-bottom: 1pt; border-bottom: 0pt; padding-right: 0pt; ">
                                <P style="margin-left: 0pt; color: #000000; font-size: 9pt; font-family: Arial, sans-serif; line-height: normal; margin-top: 0; margin-bottom: 0; text-align: right; margin-right: 0pt; "><FONT>18,000</FONT></P>
                            </TD>
                            <TD style="background-color: #cceeff; border-top: 0pt; padding-top: 0pt; border-right: 0pt; border-left: 0pt; padding-left: 0pt; vertical-align: bottom; padding-bottom: 0pt; border-bottom: 0pt; padding-right: 0pt; ">
                                <P style="margin-left: 0pt; font-size: 1pt; line-height: 1pt; margin-top: 0pt; margin-bottom: 0; margin-right: 0pt; ">&#8203;</P>
                            </TD>
                            <TD style="background-color: #cceeff; border-top: 0pt; padding-top: 1pt; border-right: 0pt; border-left: 0pt; padding-left: 0pt; vertical-align: bottom; padding-bottom: 1pt; border-bottom: 0pt; padding-right: 0pt; ">
                                <P style="margin-left: 11.25pt; color: #000000; text-indent: -11.25pt; font-size: 9pt; font-family: Arial, sans-serif; line-height: normal; margin-top: 0; margin-bottom: 0; text-align: left; margin-right: 0pt; "><FONT>Washington Federal, Inc., 4.875%, Series A </FONT></P>
                            </TD>
                            <TD style="background-color: #cceeff; border-top: 0pt; padding-top: 1pt; border-right: 0pt; border-left: 0pt; padding-left: 0pt; vertical-align: bottom; padding-bottom: 1pt; border-bottom: 0pt; padding-right: 0pt; ">
                                <P style="margin-left: 0pt; color: #000000; font-size: 9pt; font-family: Arial, sans-serif; line-height: normal; margin-top: 0; margin-bottom: 0; text-align: right; margin-right: 0pt; "><A name="pfd-nportex_083125a1183"></A><FONT>&#160;304,200</FONT></P>
                            </TD>
                            <TD style="background-color: #cceeff; border-top: 0pt; padding-top: 1pt; border-right: 0pt; border-left: 0pt; padding-left: 0pt; vertical-align: bottom; padding-bottom: 1pt; border-bottom: 0pt; padding-right: 0pt; ">
                                <P style="margin-left: 0pt; color: #000000; text-indent: 0pt; font-size: 9pt; font-family: Arial, sans-serif; line-height: normal; margin-top: 0; margin-bottom: 0; text-align: left; margin-right: 0pt; "><FONT>*</FONT><SUP style="font-size: 7.0pt; line-height: 7.0pt; ">(1)</SUP><FONT>&#160;</FONT></P>
                            </TD>
                        </TR>
                        <TR style="min-height: 3pt; ">
                            <TD style="border-top: 0pt; padding-top: 1pt; border-right: 0pt; border-left: 0pt; padding-left: 0pt; vertical-align: top; padding-bottom: 1pt; border-bottom: 0pt; padding-right: 0pt; ">
                                <P style="margin-left: 0pt; color: #000000; font-size: 9pt; font-family: Arial, sans-serif; line-height: normal; margin-top: 0; margin-bottom: 0; text-align: right; margin-right: 0pt; "><FONT>8,494</FONT></P>
                            </TD>
                            <TD style="border-top: 0pt; padding-top: 0pt; border-right: 0pt; border-left: 0pt; padding-left: 0pt; vertical-align: bottom; padding-bottom: 0pt; border-bottom: 0pt; padding-right: 0pt; ">
                                <P style="margin-left: 0pt; font-size: 1pt; line-height: 1pt; margin-top: 0pt; margin-bottom: 0; margin-right: 0pt; ">&#8203;</P>
                            </TD>
                            <TD style="border-top: 0pt; padding-top: 1pt; border-right: 0pt; border-left: 0pt; padding-left: 0pt; vertical-align: bottom; padding-bottom: 1pt; border-bottom: 0pt; padding-right: 0pt; ">
                                <P style="margin-left: 11.25pt; color: #000000; text-indent: -11.25pt; font-size: 9pt; font-family: Arial, sans-serif; line-height: normal; margin-top: 0; margin-bottom: 0; text-align: left; margin-right: 0pt; "><FONT>Webster Financial Corporation, 6.50%, Series G </FONT></P>
                            </TD>
                            <TD style="border-top: 0pt; padding-top: 1pt; border-right: 0pt; border-left: 0pt; padding-left: 0pt; vertical-align: bottom; padding-bottom: 1pt; border-bottom: 0pt; padding-right: 0pt; ">
                                <P style="margin-left: 0pt; color: #000000; font-size: 9pt; font-family: Arial, sans-serif; line-height: normal; margin-top: 0; margin-bottom: 0; text-align: right; margin-right: 0pt; "><A name="pfd-nportex_083125a1184"></A><FONT>&#160;208,613</FONT></P>
                            </TD>
                            <TD style="border-top: 0pt; padding-top: 1pt; border-right: 0pt; border-left: 0pt; padding-left: 0pt; vertical-align: bottom; padding-bottom: 1pt; border-bottom: 0pt; padding-right: 0pt; ">
                                <P style="margin-left: 0pt; color: #000000; text-indent: 0pt; font-size: 9pt; font-family: Arial, sans-serif; line-height: normal; margin-top: 0; margin-bottom: 0; text-align: left; margin-right: 0pt; "><FONT>*</FONT><SUP style="font-size: 7.0pt; line-height: 7.0pt; ">(1)</SUP><FONT>&#160;</FONT></P>
                            </TD>
                        </TR>
                        <TR style="min-height: 3pt; ">
                            <TD style="background-color: #cceeff; border-top: 0pt; padding-top: 1pt; border-right: 0pt; border-left: 0pt; padding-left: 0pt; vertical-align: top; padding-bottom: 1pt; border-bottom: 0pt; padding-right: 0pt; ">
                                <P style="margin-left: 0pt; color: #000000; font-size: 9pt; font-family: Arial, sans-serif; line-height: normal; margin-top: 0; margin-bottom: 0; text-align: right; margin-right: 0pt; "><FONT>&#160;</FONT></P>
                            </TD>
                            <TD style="background-color: #cceeff; border-top: 0pt; padding-top: 0pt; border-right: 0pt; border-left: 0pt; padding-left: 0pt; vertical-align: bottom; padding-bottom: 0pt; border-bottom: 0pt; padding-right: 0pt; ">
                                <P style="margin-left: 0pt; font-size: 1pt; line-height: 1pt; margin-top: 0pt; margin-bottom: 0; margin-right: 0pt; ">&#8203;</P>
                            </TD>
                            <TD style="background-color: #cceeff; border-top: 0pt; padding-top: 1pt; border-right: 0pt; border-left: 0pt; padding-left: 0pt; vertical-align: bottom; padding-bottom: 1pt; border-bottom: 0pt; padding-right: 0pt; ">
                                <P style="margin-left: 11.25pt; color: #000000; text-indent: -11.25pt; font-size: 9pt; font-family: Arial, sans-serif; line-height: normal; margin-top: 0; margin-bottom: 0; text-align: left; margin-right: 0pt; "><FONT>Wells Fargo &amp; Company:</FONT></P>
                            </TD>
                            <TD style="background-color: #cceeff; border-top: 0pt; padding-top: 0pt; border-right: 0pt; border-left: 0pt; padding-left: 0pt; vertical-align: bottom; padding-bottom: 0pt; border-bottom: 0pt; padding-right: 0pt; ">
                                <P style="margin-left: 0pt; font-size: 1pt; line-height: 1pt; margin-top: 0pt; margin-bottom: 0; margin-right: 0pt; ">&#8203;</P>
                            </TD>
                            <TD style="background-color: #cceeff; border-top: 0pt; padding-top: 0pt; border-right: 0pt; border-left: 0pt; padding-left: 0pt; vertical-align: bottom; padding-bottom: 0pt; border-bottom: 0pt; padding-right: 0pt; ">
                                <P style="margin-left: 0pt; font-size: 1pt; line-height: 1pt; margin-top: 0pt; margin-bottom: 0; margin-right: 0pt; ">&#8203;</P>
                            </TD>
                        </TR>
                        <TR style="min-height: 3pt; ">
                            <TD style="border-top: 0pt; padding-top: 1pt; border-right: 0pt; border-left: 0pt; padding-left: 0pt; vertical-align: top; padding-bottom: 1pt; border-bottom: 0pt; padding-right: 0pt; ">
                                <P style="margin-left: 0pt; color: #000000; font-size: 9pt; font-family: Arial, sans-serif; line-height: normal; margin-top: 0; margin-bottom: 0; text-align: right; margin-right: 0pt; "><FONT>27,000</FONT></P>
                            </TD>
                            <TD style="border-top: 0pt; padding-top: 0pt; border-right: 0pt; border-left: 0pt; padding-left: 0pt; vertical-align: bottom; padding-bottom: 0pt; border-bottom: 0pt; padding-right: 0pt; ">
                                <P style="margin-left: 0pt; font-size: 1pt; line-height: 1pt; margin-top: 0pt; margin-bottom: 0; margin-right: 0pt; ">&#8203;</P>
                            </TD>
                            <TD style="border-top: 0pt; padding-top: 1pt; border-right: 0pt; border-left: 0pt; padding-left: 0pt; vertical-align: bottom; padding-bottom: 1pt; border-bottom: 0pt; padding-right: 0pt; ">
                                <P style="margin-left: 22.5pt; color: #000000; text-indent: -11.25pt; font-size: 9pt; font-family: Arial, sans-serif; line-height: normal; margin-top: 0; margin-bottom: 0; text-align: left; margin-right: 0pt; "><FONT>4.70%, Series AA </FONT></P>
                            </TD>
                            <TD style="border-top: 0pt; padding-top: 1pt; border-right: 0pt; border-left: 0pt; padding-left: 0pt; vertical-align: bottom; padding-bottom: 1pt; border-bottom: 0pt; padding-right: 0pt; ">
                                <P style="margin-left: 0pt; color: #000000; font-size: 9pt; font-family: Arial, sans-serif; line-height: normal; margin-top: 0; margin-bottom: 0; text-align: right; margin-right: 0pt; "><A name="pfd-nportex_083125a1185"></A><FONT>&#160;517,320</FONT></P>
                            </TD>
                            <TD style="border-top: 0pt; padding-top: 1pt; border-right: 0pt; border-left: 0pt; padding-left: 0pt; vertical-align: bottom; padding-bottom: 1pt; border-bottom: 0pt; padding-right: 0pt; ">
                                <P style="margin-left: 0pt; color: #000000; text-indent: 0pt; font-size: 9pt; font-family: Arial, sans-serif; line-height: normal; margin-top: 0; margin-bottom: 0; text-align: left; margin-right: 0pt; "><FONT>*</FONT><SUP style="font-size: 7.0pt; line-height: 7.0pt; ">(1)</SUP><FONT>&#160;</FONT></P>
                            </TD>
                        </TR>
                        <TR style="min-height: 3pt; ">
                            <TD style="background-color: #cceeff; border-top: 0pt; padding-top: 1pt; border-right: 0pt; border-left: 0pt; padding-left: 0pt; vertical-align: top; padding-bottom: 1pt; border-bottom: 0pt; padding-right: 0pt; ">
                                <P style="margin-left: 0pt; color: #000000; font-size: 9pt; font-family: Arial, sans-serif; line-height: normal; margin-top: 0; margin-bottom: 0; text-align: right; margin-right: 0pt; "><FONT>241</FONT></P>
                            </TD>
                            <TD style="background-color: #cceeff; border-top: 0pt; padding-top: 0pt; border-right: 0pt; border-left: 0pt; padding-left: 0pt; vertical-align: bottom; padding-bottom: 0pt; border-bottom: 0pt; padding-right: 0pt; ">
                                <P style="margin-left: 0pt; font-size: 1pt; line-height: 1pt; margin-top: 0pt; margin-bottom: 0; margin-right: 0pt; ">&#8203;</P>
                            </TD>
                            <TD style="background-color: #cceeff; border-top: 0pt; padding-top: 1pt; border-right: 0pt; border-left: 0pt; padding-left: 0pt; vertical-align: bottom; padding-bottom: 1pt; border-bottom: 0pt; padding-right: 0pt; ">
                                <P style="margin-left: 22.5pt; color: #000000; text-indent: -11.25pt; font-size: 9pt; font-family: Arial, sans-serif; line-height: normal; margin-top: 0; margin-bottom: 0; text-align: left; margin-right: 0pt; "><FONT>7.50%, Series L </FONT></P>
                            </TD>
                            <TD style="background-color: #cceeff; border-top: 0pt; padding-top: 1pt; border-right: 0pt; border-left: 0pt; padding-left: 0pt; vertical-align: bottom; padding-bottom: 1pt; border-bottom: 0pt; padding-right: 0pt; ">
                                <P style="margin-left: 0pt; color: #000000; font-size: 9pt; font-family: Arial, sans-serif; line-height: normal; margin-top: 0; margin-bottom: 0; text-align: right; margin-right: 0pt; "><A name="pfd-nportex_083125a1186"></A><FONT>&#160;292,815</FONT></P>
                            </TD>
                            <TD style="background-color: #cceeff; border-top: 0pt; padding-top: 1pt; border-right: 0pt; border-left: 0pt; padding-left: 0pt; vertical-align: bottom; padding-bottom: 1pt; border-bottom: 0pt; padding-right: 0pt; ">
                                <P style="margin-left: 0pt; color: #000000; text-indent: 0pt; font-size: 9pt; font-family: Arial, sans-serif; line-height: normal; margin-top: 0; margin-bottom: 0; text-align: left; margin-right: 0pt; "><FONT>*</FONT><SUP style="font-size: 7.0pt; line-height: 7.0pt; ">(1)</SUP><FONT>&#160;</FONT></P>
                            </TD>
                        </TR>
                        <TR style="min-height: 3pt; ">
                            <TD style="border-top: 0pt; padding-top: 1pt; border-right: 0pt; border-left: 0pt; padding-left: 0pt; vertical-align: top; padding-bottom: 1pt; border-bottom: 0pt; padding-right: 0pt; ">
                                <P style="margin-left: 0pt; color: #000000; font-size: 9pt; font-family: Arial, sans-serif; line-height: normal; margin-top: 0; margin-bottom: 0; text-align: right; margin-right: 0pt; "><FONT style="float: left; "><FONT>$</FONT></FONT><FONT style="float: right; "><FONT>700,000</FONT></FONT><FONT style="font-size: 9pt; ">&#8203;</FONT>                                    <BR clear="all"></P>
                            </TD>
                            <TD style="border-top: 0pt; padding-top: 0pt; border-right: 0pt; border-left: 0pt; padding-left: 0pt; vertical-align: bottom; padding-bottom: 0pt; border-bottom: 0pt; padding-right: 0pt; ">
                                <P style="margin-left: 0pt; font-size: 1pt; line-height: 1pt; margin-top: 0pt; margin-bottom: 0; margin-right: 0pt; ">&#8203;</P>
                            </TD>
                            <TD style="border-top: 0pt; padding-top: 1pt; border-right: 0pt; border-left: 0pt; padding-left: 0pt; vertical-align: bottom; padding-bottom: 1pt; border-bottom: 0pt; padding-right: 0pt; ">
                                <P style="margin-left: 22.5pt; color: #000000; text-indent: -11.25pt; font-size: 9pt; font-family: Arial, sans-serif; line-height: normal; margin-top: 0; margin-bottom: 0; text-align: left; margin-right: 0pt; "><FONT>3.90% to 03/15/26 then T5Y + 3.453%, Series BB </FONT></P>
                            </TD>
                            <TD style="border-top: 0pt; padding-top: 1pt; border-right: 0pt; border-left: 0pt; padding-left: 0pt; vertical-align: bottom; padding-bottom: 1pt; border-bottom: 0pt; padding-right: 0pt; ">
                                <P style="margin-left: 0pt; color: #000000; font-size: 9pt; font-family: Arial, sans-serif; line-height: normal; margin-top: 0; margin-bottom: 0; text-align: right; margin-right: 0pt; "><A name="pfd-nportex_083125a1187"></A><FONT>&#160;693,705</FONT></P>
                            </TD>
                            <TD style="border-top: 0pt; padding-top: 1pt; border-right: 0pt; border-left: 0pt; padding-left: 0pt; vertical-align: bottom; padding-bottom: 1pt; border-bottom: 0pt; padding-right: 0pt; ">
                                <P style="margin-left: 0pt; color: #000000; text-indent: 0pt; font-size: 9pt; font-family: Arial, sans-serif; line-height: normal; margin-top: 0; margin-bottom: 0; text-align: left; margin-right: 0pt; "><FONT>*</FONT><SUP style="font-size: 7.0pt; line-height: 7.0pt; ">(1)(2)</SUP><FONT>&#160;</FONT></P>
                            </TD>
                        </TR>
                        <TR style="min-height: 3pt; ">
                            <TD style="background-color: #cceeff; border-top: 0pt; padding-top: 1pt; border-right: 0pt; border-left: 0pt; padding-left: 0pt; vertical-align: top; padding-bottom: 1pt; border-bottom: 0pt; padding-right: 0pt; ">
                                <P style="margin-left: 0pt; color: #000000; font-size: 9pt; font-family: Arial, sans-serif; line-height: normal; margin-top: 0; margin-bottom: 0; text-align: right; margin-right: 0pt; "><FONT style="float: left; "><FONT>$</FONT></FONT><FONT style="float: right; "><FONT>1,200,000</FONT></FONT><FONT style="font-size: 9pt; ">&#8203;</FONT>                                    <BR clear="all"></P>
                            </TD>
                            <TD style="background-color: #cceeff; border-top: 0pt; padding-top: 0pt; border-right: 0pt; border-left: 0pt; padding-left: 0pt; vertical-align: bottom; padding-bottom: 0pt; border-bottom: 0pt; padding-right: 0pt; ">
                                <P style="margin-left: 0pt; font-size: 1pt; line-height: 1pt; margin-top: 0pt; margin-bottom: 0; margin-right: 0pt; ">&#8203;</P>
                            </TD>
                            <TD style="background-color: #cceeff; border-top: 0pt; padding-top: 1pt; border-right: 0pt; border-left: 0pt; padding-left: 0pt; vertical-align: bottom; padding-bottom: 1pt; border-bottom: 0pt; padding-right: 0pt; ">
                                <P style="margin-left: 22.5pt; color: #000000; text-indent: -11.25pt; font-size: 9pt; font-family: Arial, sans-serif; line-height: normal; margin-top: 0; margin-bottom: 0; text-align: left; margin-right: 0pt; "><FONT>6.85% to 09/15/29 then T5Y + 2.767%, Series FF </FONT></P>
                            </TD>
                            <TD style="background-color: #cceeff; border-top: 0pt; padding-top: 1pt; border-right: 0pt; border-left: 0pt; padding-left: 0pt; vertical-align: bottom; padding-bottom: 1pt; border-bottom: 0pt; padding-right: 0pt; ">
                                <P style="margin-left: 0pt; color: #000000; font-size: 9pt; font-family: Arial, sans-serif; line-height: normal; margin-top: 0; margin-bottom: 0; text-align: right; margin-right: 0pt; "><A name="pfd-nportex_083125a1188"></A><FONT>&#160;1,260,128</FONT></P>
                            </TD>
                            <TD style="background-color: #cceeff; border-top: 0pt; padding-top: 1pt; border-right: 0pt; border-left: 0pt; padding-left: 0pt; vertical-align: bottom; padding-bottom: 1pt; border-bottom: 0pt; padding-right: 0pt; ">
                                <P style="margin-left: 0pt; color: #000000; text-indent: 0pt; font-size: 9pt; font-family: Arial, sans-serif; line-height: normal; margin-top: 0; margin-bottom: 0; text-align: left; margin-right: 0pt; "><FONT>*</FONT><SUP style="font-size: 7.0pt; line-height: 7.0pt; ">(1)(2)(3)</SUP><FONT>&#160;</FONT></P>
                            </TD>
                        </TR>
                        <TR style="min-height: 3pt; ">
                            <TD style="border-top: 0pt; padding-top: 1pt; border-right: 0pt; border-left: 0pt; padding-left: 0pt; vertical-align: top; padding-bottom: 1pt; border-bottom: 0pt; padding-right: 0pt; ">
                                <P style="margin-left: 0pt; color: #000000; font-size: 9pt; font-family: Arial, sans-serif; line-height: normal; margin-top: 0; margin-bottom: 0; text-align: right; margin-right: 0pt; "><FONT style="float: left; "><FONT>$</FONT></FONT><FONT style="float: right; "><FONT>1,920,000</FONT></FONT><FONT style="font-size: 9pt; ">&#8203;</FONT>                                    <BR clear="all"></P>
                            </TD>
                            <TD style="border-top: 0pt; padding-top: 0pt; border-right: 0pt; border-left: 0pt; padding-left: 0pt; vertical-align: bottom; padding-bottom: 0pt; border-bottom: 0pt; padding-right: 0pt; ">
                                <P style="margin-left: 0pt; font-size: 1pt; line-height: 1pt; margin-top: 0pt; margin-bottom: 0; margin-right: 0pt; ">&#8203;</P>
                            </TD>
                            <TD style="border-top: 0pt; padding-top: 1pt; border-right: 0pt; border-left: 0pt; padding-left: 0pt; vertical-align: bottom; padding-bottom: 1pt; border-bottom: 0pt; padding-right: 0pt; ">
                                <P style="margin-left: 22.5pt; color: #000000; text-indent: -11.25pt; font-size: 9pt; font-family: Arial, sans-serif; line-height: normal; margin-top: 0; margin-bottom: 0; text-align: left; margin-right: 0pt; "><FONT>7.625% to 09/15/28 then T5Y + 3.606%, Series EE </FONT></P>
                            </TD>
                            <TD style="border-top: 0pt; padding-top: 1pt; border-right: 0pt; border-left: 0pt; padding-left: 0pt; vertical-align: bottom; padding-bottom: 1pt; border-bottom: 0pt; padding-right: 0pt; ">
                                <P style="margin-left: 0pt; color: #000000; font-size: 9pt; font-family: Arial, sans-serif; line-height: normal; margin-top: 0; margin-bottom: 0; text-align: right; margin-right: 0pt; "><A name="pfd-nportex_083125a1189"></A><FONT>&#160;2,055,395</FONT></P>
                            </TD>
                            <TD style="border-top: 0pt; padding-top: 1pt; border-right: 0pt; border-left: 0pt; padding-left: 0pt; vertical-align: bottom; padding-bottom: 1pt; border-bottom: 0pt; padding-right: 0pt; ">
                                <P style="margin-left: 0pt; color: #000000; text-indent: 0pt; font-size: 9pt; font-family: Arial, sans-serif; line-height: normal; margin-top: 0; margin-bottom: 0; text-align: left; margin-right: 0pt; "><FONT>*</FONT><SUP style="font-size: 7.0pt; line-height: 7.0pt; ">(1)(2)(3)</SUP><FONT>&#160;</FONT></P>
                            </TD>
                        </TR>
                        <TR style="min-height: 3pt; ">
                            <TD style="background-color: #cceeff; border-top: 0pt; padding-top: 1pt; border-right: 0pt; border-left: 0pt; padding-left: 0pt; vertical-align: top; padding-bottom: 1pt; border-bottom: 0pt; padding-right: 0pt; ">
                                <P style="margin-left: 0pt; color: #000000; font-size: 9pt; font-family: Arial, sans-serif; line-height: normal; margin-top: 0; margin-bottom: 0; text-align: right; margin-right: 0pt; "><FONT>36,500</FONT></P>
                            </TD>
                            <TD style="background-color: #cceeff; border-top: 0pt; padding-top: 0pt; border-right: 0pt; border-left: 0pt; padding-left: 0pt; vertical-align: bottom; padding-bottom: 0pt; border-bottom: 0pt; padding-right: 0pt; ">
                                <P style="margin-left: 0pt; font-size: 1pt; line-height: 1pt; margin-top: 0pt; margin-bottom: 0; margin-right: 0pt; ">&#8203;</P>
                            </TD>
                            <TD style="background-color: #cceeff; border-top: 0pt; padding-top: 1pt; border-right: 0pt; border-left: 0pt; padding-left: 0pt; vertical-align: bottom; padding-bottom: 1pt; border-bottom: 0pt; padding-right: 0pt; ">
                                <P style="margin-left: 11.25pt; color: #000000; text-indent: -11.25pt; font-size: 9pt; font-family: Arial, sans-serif; line-height: normal; margin-top: 0; margin-bottom: 0; text-align: left; margin-right: 0pt; "><FONT>WesBanco, Inc., 6.75% to 11/15/25 then T5Y + 6.557%, Series A </FONT></P>
                            </TD>
                            <TD style="background-color: #cceeff; border-top: 0pt; padding-top: 1pt; border-right: 0pt; border-left: 0pt; padding-left: 0pt; vertical-align: bottom; padding-bottom: 1pt; border-bottom: 0pt; padding-right: 0pt; ">
                                <P style="margin-left: 0pt; color: #000000; font-size: 9pt; font-family: Arial, sans-serif; line-height: normal; margin-top: 0; margin-bottom: 0; text-align: right; margin-right: 0pt; "><A name="pfd-nportex_083125a1190"></A><FONT>&#160;916,515</FONT></P>
                            </TD>
                            <TD style="background-color: #cceeff; border-top: 0pt; padding-top: 1pt; border-right: 0pt; border-left: 0pt; padding-left: 0pt; vertical-align: bottom; padding-bottom: 1pt; border-bottom: 0pt; padding-right: 0pt; ">
                                <P style="margin-left: 0pt; color: #000000; text-indent: 0pt; font-size: 9pt; font-family: Arial, sans-serif; line-height: normal; margin-top: 0; margin-bottom: 0; text-align: left; margin-right: 0pt; "><FONT>*</FONT><SUP style="font-size: 7.0pt; line-height: 7.0pt; ">(1)(2)</SUP><FONT>&#160;</FONT></P>
                            </TD>
                        </TR>
                        <TR style="min-height: 3pt; ">
                            <TD style="border-top: 0pt; padding-top: 1pt; border-right: 0pt; border-left: 0pt; padding-left: 0pt; vertical-align: top; padding-bottom: 1pt; border-bottom: 0pt; padding-right: 0pt; ">
                                <P style="margin-left: 0pt; color: #000000; font-size: 9pt; font-family: Arial, sans-serif; line-height: normal; margin-top: 0; margin-bottom: 0; text-align: right; margin-right: 0pt; "><FONT>18,900</FONT></P>
                            </TD>
                            <TD style="border-top: 0pt; padding-top: 0pt; border-right: 0pt; border-left: 0pt; padding-left: 0pt; vertical-align: bottom; padding-bottom: 0pt; border-bottom: 0pt; padding-right: 0pt; ">
                                <P style="margin-left: 0pt; font-size: 1pt; line-height: 1pt; margin-top: 0pt; margin-bottom: 0; margin-right: 0pt; ">&#8203;</P>
                            </TD>
                            <TD style="border-top: 0pt; padding-top: 1pt; border-right: 0pt; border-left: 0pt; padding-left: 0pt; vertical-align: bottom; padding-bottom: 1pt; border-bottom: 0pt; padding-right: 0pt; ">
                                <P style="margin-left: 11.25pt; color: #000000; text-indent: -11.25pt; font-size: 9pt; font-family: Arial, sans-serif; line-height: normal; margin-top: 0; margin-bottom: 0; text-align: left; margin-right: 0pt; "><FONT>Western Alliance Bancorp, 4.25% to 09/30/26 then T5Y + 3.452%, Series A </FONT></P>
                            </TD>
                            <TD style="border-top: 0pt; padding-top: 1pt; border-right: 0pt; border-left: 0pt; padding-left: 0pt; vertical-align: bottom; padding-bottom: 1pt; border-bottom: 0pt; padding-right: 0pt; ">
                                <P style="margin-left: 0pt; color: #000000; font-size: 9pt; font-family: Arial, sans-serif; line-height: normal; margin-top: 0; margin-bottom: 0; text-align: right; margin-right: 0pt; "><A name="pfd-nportex_083125a1191"></A><FONT>&#160;430,353</FONT></P>
                            </TD>
                            <TD style="border-top: 0pt; padding-top: 1pt; border-right: 0pt; border-left: 0pt; padding-left: 0pt; vertical-align: bottom; padding-bottom: 1pt; border-bottom: 0pt; padding-right: 0pt; ">
                                <P style="margin-left: 0pt; color: #000000; text-indent: 0pt; font-size: 9pt; font-family: Arial, sans-serif; line-height: normal; margin-top: 0; margin-bottom: 0; text-align: left; margin-right: 0pt; "><FONT>*</FONT><SUP style="font-size: 7.0pt; line-height: 7.0pt; ">(1)</SUP><FONT>&#160;</FONT></P>
                            </TD>
                        </TR>
                        <TR style="min-height: 3pt; ">
                            <TD style="background-color: #cceeff; border-top: 0pt; padding-top: 1pt; border-right: 0pt; border-left: 0pt; padding-left: 0pt; vertical-align: top; padding-bottom: 1pt; border-bottom: 0.5pt solid #000000; padding-right: 0pt; ">
                                <P style="margin-left: 0pt; color: #000000; font-size: 9pt; font-family: Arial, sans-serif; line-height: normal; margin-top: 0; margin-bottom: 0; text-align: right; margin-right: 0pt; "><FONT>26,640</FONT></P>
                            </TD>
                            <TD style="background-color: #cceeff; border-top: 0pt; padding-top: 0pt; border-right: 0pt; border-left: 0pt; padding-left: 0pt; vertical-align: bottom; padding-bottom: 0pt; border-bottom: 0.5pt solid #000000; padding-right: 0pt; ">
                                <P style="margin-left: 0pt; font-size: 1pt; line-height: 1pt; margin-top: 0pt; margin-bottom: 0; margin-right: 0pt; ">&#8203;</P>
                            </TD>
                            <TD style="background-color: #cceeff; border-top: 0pt; padding-top: 1pt; border-right: 0pt; border-left: 0pt; padding-left: 0pt; vertical-align: bottom; padding-bottom: 1pt; border-bottom: 0.5pt solid #000000; padding-right: 0pt; ">
                                <P style="margin-left: 11.25pt; color: #000000; text-indent: -11.25pt; font-size: 9pt; font-family: Arial, sans-serif; line-height: normal; margin-top: 0; margin-bottom: 0; text-align: left; margin-right: 0pt; "><FONT>Wintrust Financial Corporation, 7.875% to 07/15/30 then T5Y + 3.878%, Series F </FONT></P>
                            </TD>
                            <TD style="background-color: #cceeff; border-top: 0pt; padding-top: 1pt; border-right: 0pt; border-left: 0pt; padding-left: 0pt; vertical-align: bottom; padding-bottom: 1pt; border-bottom: 0.5pt solid #000000; padding-right: 0pt; ">
                                <P style="margin-left: 0pt; color: #000000; font-size: 9pt; font-family: Arial, sans-serif; line-height: normal; margin-top: 0; margin-bottom: 0; text-align: right; margin-right: 0pt; "><A name="pfd-nportex_083125a1192"></A><FONT>&#160;703,562</FONT></P>
                            </TD>
                            <TD style="background-color: #cceeff; border-top: 0pt; padding-top: 1pt; border-right: 0pt; border-left: 0pt; padding-left: 0pt; vertical-align: bottom; padding-bottom: 1pt; border-bottom: 0pt; padding-right: 0pt; ">
                                <P style="margin-left: 0pt; color: #000000; text-indent: 0pt; font-size: 9pt; font-family: Arial, sans-serif; line-height: normal; margin-top: 0; margin-bottom: 0; text-align: left; margin-right: 0pt; "><FONT>*</FONT><SUP style="font-size: 7.0pt; line-height: 7.0pt; ">(1)</SUP><FONT>&#160;</FONT></P>
                            </TD>
                        </TR>
                        <TR style="min-height: 3pt; ">
                            <TD style="border-top: 0.5pt solid #000000; padding-top: 1pt; border-right: 0pt; border-left: 0pt; padding-left: 0pt; vertical-align: top; padding-bottom: 1pt; border-bottom: 0pt; padding-right: 0pt; ">
                                <P style="margin-left: 0pt; color: #000000; font-size: 9pt; font-family: Arial, sans-serif; line-height: normal; margin-top: 0; margin-bottom: 0; text-align: right; margin-right: 0pt; "><FONT>&#160;</FONT></P>
                            </TD>
                            <TD style="border-top: 0.5pt solid #000000; padding-top: 0pt; border-right: 0pt; border-left: 0pt; padding-left: 0pt; vertical-align: bottom; padding-bottom: 0pt; border-bottom: 0pt; padding-right: 0pt; ">
                                <P style="margin-left: 0pt; font-size: 1pt; line-height: 1pt; margin-top: 0pt; margin-bottom: 0; margin-right: 0pt; ">&#8203;</P>
                            </TD>
                            <TD style="border-top: 0.5pt solid #000000; padding-top: 1pt; border-right: 0pt; border-left: 0pt; padding-left: 0pt; vertical-align: bottom; padding-bottom: 1pt; border-bottom: 0pt; padding-right: 0pt; ">
                                <P style="margin-left: 22.5pt; color: #000000; text-indent: -11.25pt; font-size: 9pt; font-family: Arial, sans-serif; line-height: normal; margin-top: 0; margin-bottom: 0; text-align: left; margin-right: 0pt; "><FONT> </FONT></P>
                            </TD>
                            <TD style="border-top: 0.5pt solid #000000; padding-top: 1pt; border-right: 0pt; border-left: 0pt; padding-left: 0pt; vertical-align: bottom; padding-bottom: 1pt; border-bottom: 0.5pt solid #000000; padding-right: 0pt; ">
                                <P style="margin-left: 0pt; color: #000000; font-size: 9pt; font-family: Arial, sans-serif; line-height: normal; margin-top: 0; margin-bottom: 0; text-align: right; margin-right: 0pt; "><A name="pfd-nportex_083125a1193"></A><FONT>&#160;84,589,036</FONT></P>
                            </TD>
                            <TD style="border-top: 0pt; padding-top: 0pt; border-right: 0pt; border-left: 0pt; padding-left: 0pt; vertical-align: bottom; padding-bottom: 0pt; border-bottom: 0pt; padding-right: 0pt; ">
                                <P style="margin-left: 0pt; font-size: 1pt; line-height: 1pt; margin-top: 0pt; margin-bottom: 0; margin-right: 0pt; ">&#8203;</P>
                            </TD>
                        </TR>
                        <TR style="min-height: 3pt; ">
                            <TD style="background-color: #cceeff; border-top: 0pt; padding-top: 1pt; border-right: 0pt; border-left: 0pt; padding-left: 0pt; vertical-align: top; padding-bottom: 1pt; border-bottom: 0.5pt solid #000000; padding-right: 0pt; ">
                                <P style="margin-left: 0pt; color: #000000; font-size: 9pt; font-family: Arial, sans-serif; line-height: normal; margin-top: 0; margin-bottom: 0; text-align: right; margin-right: 0pt; "><FONT>&#160;</FONT></P>
                            </TD>
                            <TD style="background-color: #cceeff; border-top: 0pt; padding-top: 0pt; border-right: 0pt; border-left: 0pt; padding-left: 0pt; vertical-align: bottom; padding-bottom: 0pt; border-bottom: 0.5pt solid #000000; padding-right: 0pt; ">
                                <P style="margin-left: 0pt; font-size: 1pt; line-height: 1pt; margin-top: 0pt; margin-bottom: 0; margin-right: 0pt; ">&#8203;</P>
                            </TD>
                            <TD style="background-color: #cceeff; border-top: 0pt; padding-top: 1pt; border-right: 0pt; border-left: 0pt; padding-left: 0pt; vertical-align: bottom; padding-bottom: 1pt; border-bottom: 0.5pt solid #000000; padding-right: 0pt; ">
                                <P style="margin-left: 0pt; color: #000000; text-indent: 0pt; font-size: 9pt; font-family: Arial, sans-serif; line-height: normal; margin-top: 0; margin-bottom: 0; text-align: left; margin-right: 0pt; "><FONT style="font-weight: bold; "><B>Financial Services &#8212; 3.0% </B></FONT></P>
                            </TD>
                            <TD style="background-color: #cceeff; border-top: 0.5pt solid #000000; padding-top: 0pt; border-right: 0pt; border-left: 0pt; padding-left: 0pt; vertical-align: bottom; padding-bottom: 0pt; border-bottom: 0.5pt solid #000000; padding-right: 0pt; ">
                                <P style="margin-left: 0pt; font-size: 1pt; line-height: 1pt; margin-top: 0pt; margin-bottom: 0; margin-right: 0pt; ">&#8203;</P>
                            </TD>
                            <TD style="background-color: #cceeff; border-top: 0pt; padding-top: 0pt; border-right: 0pt; border-left: 0pt; padding-left: 0pt; vertical-align: bottom; padding-bottom: 0pt; border-bottom: 0pt; padding-right: 0pt; ">
                                <P style="margin-left: 0pt; font-size: 1pt; line-height: 1pt; margin-top: 0pt; margin-bottom: 0; margin-right: 0pt; ">&#8203;</P>
                            </TD>
                        </TR>
                        <TR style="min-height: 3pt; ">
                            <TD style="border-top: 0.5pt solid #000000; padding-top: 1pt; border-right: 0pt; border-left: 0pt; padding-left: 0pt; vertical-align: top; padding-bottom: 1pt; border-bottom: 0pt; padding-right: 0pt; ">
                                <P style="margin-left: 0pt; color: #000000; font-size: 9pt; font-family: Arial, sans-serif; line-height: normal; margin-top: 0; margin-bottom: 0; text-align: right; margin-right: 0pt; "><FONT>&#160;</FONT></P>
                            </TD>
                            <TD style="border-top: 0.5pt solid #000000; padding-top: 0pt; border-right: 0pt; border-left: 0pt; padding-left: 0pt; vertical-align: bottom; padding-bottom: 0pt; border-bottom: 0pt; padding-right: 0pt; ">
                                <P style="margin-left: 0pt; font-size: 1pt; line-height: 1pt; margin-top: 0pt; margin-bottom: 0; margin-right: 0pt; ">&#8203;</P>
                            </TD>
                            <TD style="border-top: 0.5pt solid #000000; padding-top: 1pt; border-right: 0pt; border-left: 0pt; padding-left: 0pt; vertical-align: bottom; padding-bottom: 1pt; border-bottom: 0pt; padding-right: 0pt; ">
                                <P style="margin-left: 11.25pt; color: #000000; text-indent: -11.25pt; font-size: 9pt; font-family: Arial, sans-serif; line-height: normal; margin-top: 0; margin-bottom: 0; text-align: left; margin-right: 0pt; "><FONT>AerCap Holdings NV:</FONT></P>
                            </TD>
                            <TD style="border-top: 0.5pt solid #000000; padding-top: 0pt; border-right: 0pt; border-left: 0pt; padding-left: 0pt; vertical-align: bottom; padding-bottom: 0pt; border-bottom: 0pt; padding-right: 0pt; ">
                                <P style="margin-left: 0pt; font-size: 1pt; line-height: 1pt; margin-top: 0pt; margin-bottom: 0; margin-right: 0pt; ">&#8203;</P>
                            </TD>
                            <TD style="border-top: 0pt; padding-top: 0pt; border-right: 0pt; border-left: 0pt; padding-left: 0pt; vertical-align: bottom; padding-bottom: 0pt; border-bottom: 0pt; padding-right: 0pt; ">
                                <P style="margin-left: 0pt; font-size: 1pt; line-height: 1pt; margin-top: 0pt; margin-bottom: 0; margin-right: 0pt; ">&#8203;</P>
                            </TD>
                        </TR>
                        <TR style="min-height: 3pt; ">
                            <TD style="background-color: #cceeff; border-top: 0pt; padding-top: 1pt; border-right: 0pt; border-left: 0pt; padding-left: 0pt; vertical-align: top; padding-bottom: 1pt; border-bottom: 0pt; padding-right: 0pt; ">
                                <P style="margin-left: 0pt; color: #000000; font-size: 9pt; font-family: Arial, sans-serif; line-height: normal; margin-top: 0; margin-bottom: 0; text-align: right; margin-right: 0pt; "><FONT style="float: left; "><FONT>$</FONT></FONT><FONT style="float: right; "><FONT>450,000</FONT></FONT><FONT style="font-size: 9pt; ">&#8203;</FONT>                                    <BR clear="all"></P>
                            </TD>
                            <TD style="background-color: #cceeff; border-top: 0pt; padding-top: 0pt; border-right: 0pt; border-left: 0pt; padding-left: 0pt; vertical-align: bottom; padding-bottom: 0pt; border-bottom: 0pt; padding-right: 0pt; ">
                                <P style="margin-left: 0pt; font-size: 1pt; line-height: 1pt; margin-top: 0pt; margin-bottom: 0; margin-right: 0pt; ">&#8203;</P>
                            </TD>
                            <TD style="background-color: #cceeff; border-top: 0pt; padding-top: 1pt; border-right: 0pt; border-left: 0pt; padding-left: 0pt; vertical-align: bottom; padding-bottom: 1pt; border-bottom: 0pt; padding-right: 0pt; ">
                                <P style="margin-left: 22.5pt; color: #000000; text-indent: -11.25pt; font-size: 9pt; font-family: Arial, sans-serif; line-height: normal; margin-top: 0; margin-bottom: 0; text-align: left; margin-right: 0pt; "><FONT>6.50% to 01/31/31 then T5Y + 2.441%, 01/31/56, 144A**** </FONT></P>
                            </TD>
                            <TD style="background-color: #cceeff; border-top: 0pt; padding-top: 1pt; border-right: 0pt; border-left: 0pt; padding-left: 0pt; vertical-align: bottom; padding-bottom: 1pt; border-bottom: 0pt; padding-right: 0pt; ">
                                <P style="margin-left: 0pt; color: #000000; font-size: 9pt; font-family: Arial, sans-serif; line-height: normal; margin-top: 0; margin-bottom: 0; text-align: right; margin-right: 0pt; "><A name="pfd-nportex_083125a1194"></A><FONT>&#160;464,044</FONT></P>
                            </TD>
                            <TD style="background-color: #cceeff; border-top: 0pt; padding-top: 1pt; border-right: 0pt; border-left: 0pt; padding-left: 0pt; vertical-align: bottom; padding-bottom: 1pt; border-bottom: 0pt; padding-right: 0pt; ">
                                <P style="margin-left: 0pt; color: #000000; text-indent: 0pt; font-size: 9pt; font-family: Arial, sans-serif; line-height: normal; margin-top: 0; margin-bottom: 0; text-align: left; margin-right: 0pt; "><SUP style="font-size: 7.0pt; line-height: 7.0pt; ">(5)</SUP><FONT>&#160;</FONT></P>
                            </TD>
                        </TR>
                        <TR style="min-height: 3pt; ">
                            <TD style="border-top: 0pt; padding-top: 1pt; border-right: 0pt; border-left: 0pt; padding-left: 0pt; vertical-align: top; padding-bottom: 1pt; border-bottom: 0pt; padding-right: 0pt; ">
                                <P style="margin-left: 0pt; color: #000000; font-size: 9pt; font-family: Arial, sans-serif; line-height: normal; margin-top: 0; margin-bottom: 0; text-align: right; margin-right: 0pt; "><FONT style="float: left; "><FONT>$</FONT></FONT><FONT style="float: right; "><FONT>950,000</FONT></FONT><FONT style="font-size: 9pt; ">&#8203;</FONT>                                    <BR clear="all"></P>
                            </TD>
                            <TD style="border-top: 0pt; padding-top: 0pt; border-right: 0pt; border-left: 0pt; padding-left: 0pt; vertical-align: bottom; padding-bottom: 0pt; border-bottom: 0pt; padding-right: 0pt; ">
                                <P style="margin-left: 0pt; font-size: 1pt; line-height: 1pt; margin-top: 0pt; margin-bottom: 0; margin-right: 0pt; ">&#8203;</P>
                            </TD>
                            <TD style="border-top: 0pt; padding-top: 1pt; border-right: 0pt; border-left: 0pt; padding-left: 0pt; vertical-align: bottom; padding-bottom: 1pt; border-bottom: 0pt; padding-right: 0pt; ">
                                <P style="margin-left: 22.5pt; color: #000000; text-indent: -11.25pt; font-size: 9pt; font-family: Arial, sans-serif; line-height: normal; margin-top: 0; margin-bottom: 0; text-align: left; margin-right: 0pt; "><FONT>6.95% to 03/10/30 then T5Y + 2.72%, 03/10/55 </FONT></P>
                            </TD>
                            <TD style="border-top: 0pt; padding-top: 1pt; border-right: 0pt; border-left: 0pt; padding-left: 0pt; vertical-align: bottom; padding-bottom: 1pt; border-bottom: 0pt; padding-right: 0pt; ">
                                <P style="margin-left: 0pt; color: #000000; font-size: 9pt; font-family: Arial, sans-serif; line-height: normal; margin-top: 0; margin-bottom: 0; text-align: right; margin-right: 0pt; "><A name="pfd-nportex_083125a1195"></A><FONT>&#160;995,198</FONT></P>
                            </TD>
                            <TD style="border-top: 0pt; padding-top: 1pt; border-right: 0pt; border-left: 0pt; padding-left: 0pt; vertical-align: bottom; padding-bottom: 1pt; border-bottom: 0pt; padding-right: 0pt; ">
                                <P style="margin-left: 0pt; color: #000000; text-indent: 0pt; font-size: 9pt; font-family: Arial, sans-serif; line-height: normal; margin-top: 0; margin-bottom: 0; text-align: left; margin-right: 0pt; "><SUP style="font-size: 7.0pt; line-height: 7.0pt; ">(2)(5)</SUP><FONT>&#160;</FONT></P>
                            </TD>
                        </TR>
                        <TR style="min-height: 3pt; ">
                            <TD style="background-color: #cceeff; border-top: 0pt; padding-top: 1pt; border-right: 0pt; border-left: 0pt; padding-left: 0pt; vertical-align: top; padding-bottom: 1pt; border-bottom: 0pt; padding-right: 0pt; ">
                                <P style="margin-left: 0pt; color: #000000; font-size: 9pt; font-family: Arial, sans-serif; line-height: normal; margin-top: 0; margin-bottom: 0; text-align: right; margin-right: 0pt; "><FONT>24,000</FONT></P>
                            </TD>
                            <TD style="background-color: #cceeff; border-top: 0pt; padding-top: 0pt; border-right: 0pt; border-left: 0pt; padding-left: 0pt; vertical-align: bottom; padding-bottom: 0pt; border-bottom: 0pt; padding-right: 0pt; ">
                                <P style="margin-left: 0pt; font-size: 1pt; line-height: 1pt; margin-top: 0pt; margin-bottom: 0; margin-right: 0pt; ">&#8203;</P>
                            </TD>
                            <TD style="background-color: #cceeff; border-top: 0pt; padding-top: 1pt; border-right: 0pt; border-left: 0pt; padding-left: 0pt; vertical-align: bottom; padding-bottom: 1pt; border-bottom: 0pt; padding-right: 0pt; ">
                                <P style="margin-left: 11.25pt; color: #000000; text-indent: -11.25pt; font-size: 9pt; font-family: Arial, sans-serif; line-height: normal; margin-top: 0; margin-bottom: 0; text-align: left; margin-right: 0pt; "><FONT>Affiliated Managers Group, Inc., 6.75% 03/30/64 </FONT></P>
                            </TD>
                            <TD style="background-color: #cceeff; border-top: 0pt; padding-top: 1pt; border-right: 0pt; border-left: 0pt; padding-left: 0pt; vertical-align: bottom; padding-bottom: 1pt; border-bottom: 0pt; padding-right: 0pt; ">
                                <P style="margin-left: 0pt; color: #000000; font-size: 9pt; font-family: Arial, sans-serif; line-height: normal; margin-top: 0; margin-bottom: 0; text-align: right; margin-right: 0pt; "><A name="pfd-nportex_083125a1196"></A><FONT>&#160;593,280</FONT></P>
                            </TD>
                            <TD style="background-color: #cceeff; border-top: 0pt; padding-top: 0pt; border-right: 0pt; border-left: 0pt; padding-left: 0pt; vertical-align: bottom; padding-bottom: 0pt; border-bottom: 0pt; padding-right: 0pt; ">
                                <P style="margin-left: 0pt; font-size: 1pt; line-height: 1pt; margin-top: 0pt; margin-bottom: 0; margin-right: 0pt; ">&#8203;</P>
                            </TD>
                        </TR>
                        <TR style="min-height: 3pt; ">
                            <TD style="border-top: 0pt; padding-top: 1pt; border-right: 0pt; border-left: 0pt; padding-left: 0pt; vertical-align: top; padding-bottom: 1pt; border-bottom: 0pt; padding-right: 0pt; ">
                                <P style="margin-left: 0pt; color: #000000; font-size: 9pt; font-family: Arial, sans-serif; line-height: normal; margin-top: 0; margin-bottom: 0; text-align: right; margin-right: 0pt; "><FONT>&#160;</FONT></P>
                            </TD>
                            <TD style="border-top: 0pt; padding-top: 0pt; border-right: 0pt; border-left: 0pt; padding-left: 0pt; vertical-align: bottom; padding-bottom: 0pt; border-bottom: 0pt; padding-right: 0pt; ">
                                <P style="margin-left: 0pt; font-size: 1pt; line-height: 1pt; margin-top: 0pt; margin-bottom: 0; margin-right: 0pt; ">&#8203;</P>
                            </TD>
                            <TD style="border-top: 0pt; padding-top: 1pt; border-right: 0pt; border-left: 0pt; padding-left: 0pt; vertical-align: bottom; padding-bottom: 1pt; border-bottom: 0pt; padding-right: 0pt; ">
                                <P style="margin-left: 11.25pt; color: #000000; text-indent: -11.25pt; font-size: 9pt; font-family: Arial, sans-serif; line-height: normal; margin-top: 0; margin-bottom: 0; text-align: left; margin-right: 0pt; "><FONT>Ally Financial, Inc.:</FONT></P>
                            </TD>
                            <TD style="border-top: 0pt; padding-top: 0pt; border-right: 0pt; border-left: 0pt; padding-left: 0pt; vertical-align: bottom; padding-bottom: 0pt; border-bottom: 0pt; padding-right: 0pt; ">
                                <P style="margin-left: 0pt; font-size: 1pt; line-height: 1pt; margin-top: 0pt; margin-bottom: 0; margin-right: 0pt; ">&#8203;</P>
                            </TD>
                            <TD style="border-top: 0pt; padding-top: 0pt; border-right: 0pt; border-left: 0pt; padding-left: 0pt; vertical-align: bottom; padding-bottom: 0pt; border-bottom: 0pt; padding-right: 0pt; ">
                                <P style="margin-left: 0pt; font-size: 1pt; line-height: 1pt; margin-top: 0pt; margin-bottom: 0; margin-right: 0pt; ">&#8203;</P>
                            </TD>
                        </TR>
                        <TR style="min-height: 3pt; ">
                            <TD style="background-color: #cceeff; border-top: 0pt; padding-top: 1pt; border-right: 0pt; border-left: 0pt; padding-left: 0pt; vertical-align: top; padding-bottom: 1pt; border-bottom: 0pt; padding-right: 0pt; ">
                                <P style="margin-left: 0pt; color: #000000; font-size: 9pt; font-family: Arial, sans-serif; line-height: normal; margin-top: 0; margin-bottom: 0; text-align: right; margin-right: 0pt; "><FONT style="float: left; "><FONT>$</FONT></FONT><FONT style="float: right; "><FONT>1,030,000</FONT></FONT><FONT style="font-size: 9pt; ">&#8203;</FONT>                                    <BR clear="all"></P>
                            </TD>
                            <TD style="background-color: #cceeff; border-top: 0pt; padding-top: 0pt; border-right: 0pt; border-left: 0pt; padding-left: 0pt; vertical-align: bottom; padding-bottom: 0pt; border-bottom: 0pt; padding-right: 0pt; ">
                                <P style="margin-left: 0pt; font-size: 1pt; line-height: 1pt; margin-top: 0pt; margin-bottom: 0; margin-right: 0pt; ">&#8203;</P>
                            </TD>
                            <TD style="background-color: #cceeff; border-top: 0pt; padding-top: 1pt; border-right: 0pt; border-left: 0pt; padding-left: 0pt; vertical-align: bottom; padding-bottom: 1pt; border-bottom: 0pt; padding-right: 0pt; ">
                                <P style="margin-left: 22.5pt; color: #000000; text-indent: -11.25pt; font-size: 9pt; font-family: Arial, sans-serif; line-height: normal; margin-top: 0; margin-bottom: 0; text-align: left; margin-right: 0pt; "><FONT>4.70% to 05/15/26 then T5Y + 3.868%, Series B </FONT></P>
                            </TD>
                            <TD style="background-color: #cceeff; border-top: 0pt; padding-top: 1pt; border-right: 0pt; border-left: 0pt; padding-left: 0pt; vertical-align: bottom; padding-bottom: 1pt; border-bottom: 0pt; padding-right: 0pt; ">
                                <P style="margin-left: 0pt; color: #000000; font-size: 9pt; font-family: Arial, sans-serif; line-height: normal; margin-top: 0; margin-bottom: 0; text-align: right; margin-right: 0pt; "><A name="pfd-nportex_083125a1197"></A><FONT>&#160;1,004,184</FONT></P>
                            </TD>
                            <TD style="background-color: #cceeff; border-top: 0pt; padding-top: 1pt; border-right: 0pt; border-left: 0pt; padding-left: 0pt; vertical-align: bottom; padding-bottom: 1pt; border-bottom: 0pt; padding-right: 0pt; ">
                                <P style="margin-left: 0pt; color: #000000; text-indent: 0pt; font-size: 9pt; font-family: Arial, sans-serif; line-height: normal; margin-top: 0; margin-bottom: 0; text-align: left; margin-right: 0pt; "><FONT>*</FONT><SUP style="font-size: 7.0pt; line-height: 7.0pt; ">(1)(2)(3)</SUP><FONT>&#160;</FONT></P>
                            </TD>
                        </TR>
                        <TR style="min-height: 3pt; ">
                            <TD style="border-top: 0pt; padding-top: 1pt; border-right: 0pt; border-left: 0pt; padding-left: 0pt; vertical-align: top; padding-bottom: 1pt; border-bottom: 0pt; padding-right: 0pt; ">
                                <P style="margin-left: 0pt; color: #000000; font-size: 9pt; font-family: Arial, sans-serif; line-height: normal; margin-top: 0; margin-bottom: 0; text-align: right; margin-right: 0pt; "><FONT style="float: left; "><FONT>$</FONT></FONT><FONT style="float: right; "><FONT>700,000</FONT></FONT><FONT style="font-size: 9pt; ">&#8203;</FONT>                                    <BR clear="all"></P>
                            </TD>
                            <TD style="border-top: 0pt; padding-top: 0pt; border-right: 0pt; border-left: 0pt; padding-left: 0pt; vertical-align: bottom; padding-bottom: 0pt; border-bottom: 0pt; padding-right: 0pt; ">
                                <P style="margin-left: 0pt; font-size: 1pt; line-height: 1pt; margin-top: 0pt; margin-bottom: 0; margin-right: 0pt; ">&#8203;</P>
                            </TD>
                            <TD style="border-top: 0pt; padding-top: 1pt; border-right: 0pt; border-left: 0pt; padding-left: 0pt; vertical-align: bottom; padding-bottom: 1pt; border-bottom: 0pt; padding-right: 0pt; ">
                                <P style="margin-left: 22.5pt; color: #000000; text-indent: -11.25pt; font-size: 9pt; font-family: Arial, sans-serif; line-height: normal; margin-top: 0; margin-bottom: 0; text-align: left; margin-right: 0pt; "><FONT>4.70% to 05/15/28 then T7Y + 3.481%, Series C </FONT></P>
                            </TD>
                            <TD style="border-top: 0pt; padding-top: 1pt; border-right: 0pt; border-left: 0pt; padding-left: 0pt; vertical-align: bottom; padding-bottom: 1pt; border-bottom: 0pt; padding-right: 0pt; ">
                                <P style="margin-left: 0pt; color: #000000; font-size: 9pt; font-family: Arial, sans-serif; line-height: normal; margin-top: 0; margin-bottom: 0; text-align: right; margin-right: 0pt; "><A name="pfd-nportex_083125a1198"></A><FONT>&#160;640,108</FONT></P>
                            </TD>
                            <TD style="border-top: 0pt; padding-top: 1pt; border-right: 0pt; border-left: 0pt; padding-left: 0pt; vertical-align: bottom; padding-bottom: 1pt; border-bottom: 0pt; padding-right: 0pt; ">
                                <P style="margin-left: 0pt; color: #000000; text-indent: 0pt; font-size: 9pt; font-family: Arial, sans-serif; line-height: normal; margin-top: 0; margin-bottom: 0; text-align: left; margin-right: 0pt; "><FONT>*</FONT><SUP style="font-size: 7.0pt; line-height: 7.0pt; ">(1)</SUP><FONT>&#160;</FONT></P>
                            </TD>
                        </TR>
                        <TR style="min-height: 3pt; ">
                            <TD style="background-color: #cceeff; border-top: 0pt; padding-top: 1pt; border-right: 0pt; border-left: 0pt; padding-left: 0pt; vertical-align: top; padding-bottom: 1pt; border-bottom: 0pt; padding-right: 0pt; ">
                                <P style="margin-left: 0pt; color: #000000; font-size: 9pt; font-family: Arial, sans-serif; line-height: normal; margin-top: 0; margin-bottom: 0; text-align: right; margin-right: 0pt; "><FONT style="float: left; "><FONT>$</FONT></FONT><FONT style="float: right; "><FONT>575,000</FONT></FONT><FONT style="font-size: 9pt; ">&#8203;</FONT>                                    <BR clear="all"></P>
                            </TD>
                            <TD style="background-color: #cceeff; border-top: 0pt; padding-top: 0pt; border-right: 0pt; border-left: 0pt; padding-left: 0pt; vertical-align: bottom; padding-bottom: 0pt; border-bottom: 0pt; padding-right: 0pt; ">
                                <P style="margin-left: 0pt; font-size: 1pt; line-height: 1pt; margin-top: 0pt; margin-bottom: 0; margin-right: 0pt; ">&#8203;</P>
                            </TD>
                            <TD style="background-color: #cceeff; border-top: 0pt; padding-top: 1pt; border-right: 0pt; border-left: 0pt; padding-left: 0pt; vertical-align: bottom; padding-bottom: 1pt; border-bottom: 0pt; padding-right: 0pt; ">
                                <P style="margin-left: 11.25pt; color: #000000; text-indent: -11.25pt; font-size: 9pt; font-family: Arial, sans-serif; line-height: normal; margin-top: 0; margin-bottom: 0; text-align: left; margin-right: 0pt; "><FONT>American Express Company, 3.55% to 09/15/26 then T5Y + 2.854%, Series D </FONT></P>
                            </TD>
                            <TD style="background-color: #cceeff; border-top: 0pt; padding-top: 1pt; border-right: 0pt; border-left: 0pt; padding-left: 0pt; vertical-align: bottom; padding-bottom: 1pt; border-bottom: 0pt; padding-right: 0pt; ">
                                <P style="margin-left: 0pt; color: #000000; font-size: 9pt; font-family: Arial, sans-serif; line-height: normal; margin-top: 0; margin-bottom: 0; text-align: right; margin-right: 0pt; "><A name="pfd-nportex_083125a1199"></A><FONT>&#160;561,784</FONT></P>
                            </TD>
                            <TD style="background-color: #cceeff; border-top: 0pt; padding-top: 1pt; border-right: 0pt; border-left: 0pt; padding-left: 0pt; vertical-align: bottom; padding-bottom: 1pt; border-bottom: 0pt; padding-right: 0pt; ">
                                <P style="margin-left: 0pt; color: #000000; text-indent: 0pt; font-size: 9pt; font-family: Arial, sans-serif; line-height: normal; margin-top: 0; margin-bottom: 0; text-align: left; margin-right: 0pt; "><FONT>*</FONT><SUP style="font-size: 7.0pt; line-height: 7.0pt; ">(1)(2)(3)</SUP><FONT>&#160;</FONT></P>
                            </TD>
                        </TR>
                        <TR style="min-height: 3pt; ">
                            <TD style="border-top: 0pt; padding-top: 1pt; border-right: 0pt; border-left: 0pt; padding-left: 0pt; vertical-align: top; padding-bottom: 1pt; border-bottom: 0pt; padding-right: 0pt; ">
                                <P style="margin-left: 0pt; color: #000000; font-size: 9pt; font-family: Arial, sans-serif; line-height: normal; margin-top: 0; margin-bottom: 0; text-align: right; margin-right: 0pt; "><FONT>11,500</FONT></P>
                            </TD>
                            <TD style="border-top: 0pt; padding-top: 0pt; border-right: 0pt; border-left: 0pt; padding-left: 0pt; vertical-align: bottom; padding-bottom: 0pt; border-bottom: 0pt; padding-right: 0pt; ">
                                <P style="margin-left: 0pt; font-size: 1pt; line-height: 1pt; margin-top: 0pt; margin-bottom: 0; margin-right: 0pt; ">&#8203;</P>
                            </TD>
                            <TD style="border-top: 0pt; padding-top: 1pt; border-right: 0pt; border-left: 0pt; padding-left: 0pt; vertical-align: bottom; padding-bottom: 1pt; border-bottom: 0pt; padding-right: 0pt; ">
                                <P style="margin-left: 11.25pt; color: #000000; text-indent: -11.25pt; font-size: 9pt; font-family: Arial, sans-serif; line-height: normal; margin-top: 0; margin-bottom: 0; text-align: left; margin-right: 0pt; "><FONT>Carlyle Finance LLC, 4.625% 05/15/61 </FONT></P>
                            </TD>
                            <TD style="border-top: 0pt; padding-top: 1pt; border-right: 0pt; border-left: 0pt; padding-left: 0pt; vertical-align: bottom; padding-bottom: 1pt; border-bottom: 0pt; padding-right: 0pt; ">
                                <P style="margin-left: 0pt; color: #000000; font-size: 9pt; font-family: Arial, sans-serif; line-height: normal; margin-top: 0; margin-bottom: 0; text-align: right; margin-right: 0pt; "><A name="pfd-nportex_083125a1200"></A><FONT>&#160;210,105</FONT></P>
                            </TD>
                            <TD style="border-top: 0pt; padding-top: 0pt; border-right: 0pt; border-left: 0pt; padding-left: 0pt; vertical-align: bottom; padding-bottom: 0pt; border-bottom: 0pt; padding-right: 0pt; ">
                                <P style="margin-left: 0pt; font-size: 1pt; line-height: 1pt; margin-top: 0pt; margin-bottom: 0; margin-right: 0pt; ">&#8203;</P>
                            </TD>
                        </TR>
                        <TR style="min-height: 3pt; ">
                            <TD style="background-color: #cceeff; border-top: 0pt; padding-top: 1pt; border-right: 0pt; border-left: 0pt; padding-left: 0pt; vertical-align: top; padding-bottom: 1pt; border-bottom: 0pt; padding-right: 0pt; ">
                                <P style="margin-left: 0pt; color: #000000; font-size: 9pt; font-family: Arial, sans-serif; line-height: normal; margin-top: 0; margin-bottom: 0; text-align: right; margin-right: 0pt; "><FONT>&#160;</FONT></P>
                            </TD>
                            <TD style="background-color: #cceeff; border-top: 0pt; padding-top: 0pt; border-right: 0pt; border-left: 0pt; padding-left: 0pt; vertical-align: bottom; padding-bottom: 0pt; border-bottom: 0pt; padding-right: 0pt; ">
                                <P style="margin-left: 0pt; font-size: 1pt; line-height: 1pt; margin-top: 0pt; margin-bottom: 0; margin-right: 0pt; ">&#8203;</P>
                            </TD>
                            <TD style="background-color: #cceeff; border-top: 0pt; padding-top: 1pt; border-right: 0pt; border-left: 0pt; padding-left: 0pt; vertical-align: bottom; padding-bottom: 1pt; border-bottom: 0pt; padding-right: 0pt; ">
                                <P style="margin-left: 11.25pt; color: #000000; text-indent: -11.25pt; font-size: 9pt; font-family: Arial, sans-serif; line-height: normal; margin-top: 0; margin-bottom: 0; text-align: left; margin-right: 0pt; "><FONT>General Motors Financial Company:</FONT></P>
                            </TD>
                            <TD style="background-color: #cceeff; border-top: 0pt; padding-top: 0pt; border-right: 0pt; border-left: 0pt; padding-left: 0pt; vertical-align: bottom; padding-bottom: 0pt; border-bottom: 0pt; padding-right: 0pt; ">
                                <P style="margin-left: 0pt; font-size: 1pt; line-height: 1pt; margin-top: 0pt; margin-bottom: 0; margin-right: 0pt; ">&#8203;</P>
                            </TD>
                            <TD style="background-color: #cceeff; border-top: 0pt; padding-top: 0pt; border-right: 0pt; border-left: 0pt; padding-left: 0pt; vertical-align: bottom; padding-bottom: 0pt; border-bottom: 0pt; padding-right: 0pt; ">
                                <P style="margin-left: 0pt; font-size: 1pt; line-height: 1pt; margin-top: 0pt; margin-bottom: 0; margin-right: 0pt; ">&#8203;</P>
                            </TD>
                        </TR>
                        <TR style="min-height: 3pt; ">
                            <TD style="border-top: 0pt; padding-top: 1pt; border-right: 0pt; border-left: 0pt; padding-left: 0pt; vertical-align: top; padding-bottom: 1pt; border-bottom: 0pt; padding-right: 0pt; ">
                                <P style="margin-left: 0pt; color: #000000; font-size: 9pt; font-family: Arial, sans-serif; line-height: normal; margin-top: 0; margin-bottom: 0; text-align: right; margin-right: 0pt; "><FONT style="float: left; "><FONT>$</FONT></FONT><FONT style="float: right; "><FONT>600,000</FONT></FONT><FONT style="font-size: 9pt; ">&#8203;</FONT>                                    <BR clear="all"></P>
                            </TD>
                            <TD style="border-top: 0pt; padding-top: 0pt; border-right: 0pt; border-left: 0pt; padding-left: 0pt; vertical-align: bottom; padding-bottom: 0pt; border-bottom: 0pt; padding-right: 0pt; ">
                                <P style="margin-left: 0pt; font-size: 1pt; line-height: 1pt; margin-top: 0pt; margin-bottom: 0; margin-right: 0pt; ">&#8203;</P>
                            </TD>
                            <TD style="border-top: 0pt; padding-top: 1pt; border-right: 0pt; border-left: 0pt; padding-left: 0pt; vertical-align: bottom; padding-bottom: 1pt; border-bottom: 0pt; padding-right: 0pt; ">
                                <P style="margin-left: 22.5pt; color: #000000; text-indent: -11.25pt; font-size: 9pt; font-family: Arial, sans-serif; line-height: normal; margin-top: 0; margin-bottom: 0; text-align: left; margin-right: 0pt; "><FONT>5.70% to 09/30/30 then T5Y + 4.997%, Series C </FONT></P>
                            </TD>
                            <TD style="border-top: 0pt; padding-top: 1pt; border-right: 0pt; border-left: 0pt; padding-left: 0pt; vertical-align: bottom; padding-bottom: 1pt; border-bottom: 0pt; padding-right: 0pt; ">
                                <P style="margin-left: 0pt; color: #000000; font-size: 9pt; font-family: Arial, sans-serif; line-height: normal; margin-top: 0; margin-bottom: 0; text-align: right; margin-right: 0pt; "><A name="pfd-nportex_083125a1201"></A><FONT>&#160;589,694</FONT></P>
                            </TD>
                            <TD style="border-top: 0pt; padding-top: 1pt; border-right: 0pt; border-left: 0pt; padding-left: 0pt; vertical-align: bottom; padding-bottom: 1pt; border-bottom: 0pt; padding-right: 0pt; ">
                                <P style="margin-left: 0pt; color: #000000; text-indent: 0pt; font-size: 9pt; font-family: Arial, sans-serif; line-height: normal; margin-top: 0; margin-bottom: 0; text-align: left; margin-right: 0pt; "><FONT>*</FONT><SUP style="font-size: 7.0pt; line-height: 7.0pt; ">(1)(2)</SUP><FONT>&#160;</FONT></P>
                            </TD>
                        </TR>
                        <TR style="min-height: 3pt; ">
                            <TD style="background-color: #cceeff; border-top: 0pt; padding-top: 1pt; border-right: 0pt; border-left: 0pt; padding-left: 0pt; vertical-align: top; padding-bottom: 1pt; border-bottom: 0pt; padding-right: 0pt; ">
                                <P style="margin-left: 0pt; color: #000000; font-size: 9pt; font-family: Arial, sans-serif; line-height: normal; margin-top: 0; margin-bottom: 0; text-align: right; margin-right: 0pt; "><FONT style="float: left; "><FONT>$</FONT></FONT><FONT style="float: right; "><FONT>192,000</FONT></FONT><FONT style="font-size: 9pt; ">&#8203;</FONT>                                    <BR clear="all"></P>
                            </TD>
                            <TD style="background-color: #cceeff; border-top: 0pt; padding-top: 0pt; border-right: 0pt; border-left: 0pt; padding-left: 0pt; vertical-align: bottom; padding-bottom: 0pt; border-bottom: 0pt; padding-right: 0pt; ">
                                <P style="margin-left: 0pt; font-size: 1pt; line-height: 1pt; margin-top: 0pt; margin-bottom: 0; margin-right: 0pt; ">&#8203;</P>
                            </TD>
                            <TD style="background-color: #cceeff; border-top: 0pt; padding-top: 1pt; border-right: 0pt; border-left: 0pt; padding-left: 0pt; vertical-align: bottom; padding-bottom: 1pt; border-bottom: 0pt; padding-right: 0pt; ">
                                <P style="margin-left: 22.5pt; color: #000000; text-indent: -11.25pt; font-size: 9pt; font-family: Arial, sans-serif; line-height: normal; margin-top: 0; margin-bottom: 0; text-align: left; margin-right: 0pt; "><FONT>5.75% to 09/30/27 then 3ML + 3.598%, Series A </FONT></P>
                            </TD>
                            <TD style="background-color: #cceeff; border-top: 0pt; padding-top: 1pt; border-right: 0pt; border-left: 0pt; padding-left: 0pt; vertical-align: bottom; padding-bottom: 1pt; border-bottom: 0pt; padding-right: 0pt; ">
                                <P style="margin-left: 0pt; color: #000000; font-size: 9pt; font-family: Arial, sans-serif; line-height: normal; margin-top: 0; margin-bottom: 0; text-align: right; margin-right: 0pt; "><A name="pfd-nportex_083125a1202"></A><FONT>&#160;188,040</FONT></P>
                            </TD>
                            <TD style="background-color: #cceeff; border-top: 0pt; padding-top: 1pt; border-right: 0pt; border-left: 0pt; padding-left: 0pt; vertical-align: bottom; padding-bottom: 1pt; border-bottom: 0pt; padding-right: 0pt; ">
                                <P style="margin-left: 0pt; color: #000000; text-indent: 0pt; font-size: 9pt; font-family: Arial, sans-serif; line-height: normal; margin-top: 0; margin-bottom: 0; text-align: left; margin-right: 0pt; "><FONT>*</FONT><SUP style="font-size: 7.0pt; line-height: 7.0pt; ">(1)</SUP><FONT>&#160;</FONT></P>
                            </TD>
                        </TR>
                        <TR style="min-height: 3pt; ">
                            <TD style="border-top: 0pt; padding-top: 1pt; border-right: 0pt; border-left: 0pt; padding-left: 0pt; vertical-align: top; padding-bottom: 1pt; border-bottom: 0pt; padding-right: 0pt; ">
                                <P style="margin-left: 0pt; color: #000000; font-size: 9pt; font-family: Arial, sans-serif; line-height: normal; margin-top: 0; margin-bottom: 0; text-align: right; margin-right: 0pt; "><FONT style="float: left; "><FONT>$</FONT></FONT><FONT style="float: right; "><FONT>775,000</FONT></FONT><FONT style="font-size: 9pt; ">&#8203;</FONT>                                    <BR clear="all"></P>
                            </TD>
                            <TD style="border-top: 0pt; padding-top: 0pt; border-right: 0pt; border-left: 0pt; padding-left: 0pt; vertical-align: bottom; padding-bottom: 0pt; border-bottom: 0pt; padding-right: 0pt; ">
                                <P style="margin-left: 0pt; font-size: 1pt; line-height: 1pt; margin-top: 0pt; margin-bottom: 0; margin-right: 0pt; ">&#8203;</P>
                            </TD>
                            <TD style="border-top: 0pt; padding-top: 1pt; border-right: 0pt; border-left: 0pt; padding-left: 0pt; vertical-align: bottom; padding-bottom: 1pt; border-bottom: 0pt; padding-right: 0pt; ">
                                <P style="margin-left: 22.5pt; color: #000000; text-indent: -11.25pt; font-size: 9pt; font-family: Arial, sans-serif; line-height: normal; margin-top: 0; margin-bottom: 0; text-align: left; margin-right: 0pt; "><FONT>6.50% to 09/30/28 then 3ML + 3.436%, Series B </FONT></P>
                            </TD>
                            <TD style="border-top: 0pt; padding-top: 1pt; border-right: 0pt; border-left: 0pt; padding-left: 0pt; vertical-align: bottom; padding-bottom: 1pt; border-bottom: 0pt; padding-right: 0pt; ">
                                <P style="margin-left: 0pt; color: #000000; font-size: 9pt; font-family: Arial, sans-serif; line-height: normal; margin-top: 0; margin-bottom: 0; text-align: right; margin-right: 0pt; "><FONT>762,698</FONT></P>
                            </TD>
                            <TD style="border-top: 0pt; padding-top: 1pt; border-right: 0pt; border-left: 0pt; padding-left: 0pt; vertical-align: bottom; padding-bottom: 1pt; border-bottom: 0pt; padding-right: 0pt; ">
                                <P style="margin-left: 0pt; color: #000000; text-indent: 0pt; font-size: 9pt; font-family: Arial, sans-serif; line-height: normal; margin-top: 0; margin-bottom: 0; text-align: left; margin-right: 0pt; "><FONT>*</FONT><SUP style="font-size: 7.0pt; line-height: 7.0pt; ">(1)(2)&#160;</SUP><FONT>&#160;</FONT></P>
                            </TD>
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        <DIV style="page-break-before: always; ">
            <P style="font-size: 5pt; margin: 0pt; ">&#8203;</P>
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        <DIV style="margin: auto; overflow: hidden; width: 675.0pt; position: relative; border-bottom: 2pt solid black; height: 765.0pt; ">
            <DIV style="border: 0pt; padding-top: 0pt; top: 697.5pt; left: 33.75pt; padding-left: 0pt; width: 607.5pt; padding-bottom: 0pt; position: absolute; padding-right: 0pt; height: 33.75pt; ">
                <DIV style="vertical-align: bottom; width: 607.5pt; display: table-cell; height: 33.75pt; ">
                    <!-- [if IE]><TABLE><TR style=" width: 607.5pt; height: 33.75pt;"><TD vAlign="bottom" style=" width: 607.5pt; height: 33.75pt;"><![endif]-->
                    <P style="margin-left: 0pt; color: #000000; text-indent: 0pt; font-size: 12pt; font-family: Times New Roman, Times, serif; margin-top: 0pt; margin-bottom: 0pt; text-align: center; margin-right: 0pt; "><FONT style="font-size: 8pt; font-family: Arial, sans-serif; "> <br></FONT><FONT style="font-size: 10pt; font-family: Arial, sans-serif; ">4</FONT></P>
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                <P style="border-top: 1pt solid ; color: #000000; font-size: 12pt; margin-right: 0pt; margin-left: 0pt; text-indent: 0pt; font-family: Times New Roman, Times, serif; margin-top: 0pt; margin-bottom: 0pt; "><FONT style="font-size: 8pt; font-family: Arial, sans-serif; ">&#160;</FONT></P>
                <P style="margin-left: 0pt; color: #000000; text-indent: 0pt; font-size: 12pt; font-family: Times New Roman, Times, serif; margin-top: 0pt; margin-bottom: 0pt; margin-right: 0pt; "><FONT style="font-size: 8pt; font-family: Arial, sans-serif; ">Flaherty &amp; Crumrine Preferred and Income Fund Incorporated</FONT></P>
                <P style="margin-left: 0pt; color: #000000; text-indent: 0pt; font-size: 12pt; font-family: Times New Roman, Times, serif; margin-top: 0pt; margin-bottom: 0pt; margin-right: 0pt; "><FONT style="font-family: Arial, sans-serif; ">PORTFOLIO OF INVESTMENTS (Continued)</FONT></P>
                <P style="margin-left: 0pt; color: #000000; text-indent: 0pt; font-size: 12pt; font-family: Times New Roman, Times, serif; margin-top: 0pt; margin-bottom: 0pt; margin-right: 0pt; "><FONT style="font-size: 10pt; font-family: Arial, sans-serif; ">August 31, 2025&#160;(Unaudited)</FONT></P>
                <P style="color: #000000; font-size: 12pt; border-bottom: 1pt solid ; margin-right: 0pt; margin-left: 0pt; text-indent: 0pt; font-family: Times New Roman, Times, serif; margin-top: 0pt; margin-bottom: 0pt; "><FONT style="font-size: 8pt; font-family: Arial, sans-serif; ">&#160;</FONT></P>
            </DIV>
            <DIV style="border: 0pt; padding-top: 0pt; top: 120pt; left: 33.75pt; padding-left: 0pt; width: 607.5pt; padding-bottom: 0pt; position: absolute; padding-right: 0pt; height: 577.5pt; ">
                <DIV style="margin-left: 0pt; color: #000000; font-size: 9pt; font-family: Arial, sans-serif; line-height: 11pt; margin-top: 0pt; margin-bottom: 0pt; text-align: justify; margin-right: 0pt; ">
                    <TABLE style="width: 623.75pt; margin-top: 0pt; margin-bottom: 0pt; table-layout: fixed; border-collapse: collapse; ">
                        <TR style="margin: 0; height: 0; ">
                            <TD style="border: 0; width: 68.75pt; padding: 0; margin: 0; ">
                            </TD>
                            <TD style="border: 0; width: 15.0pt; padding: 0; margin: 0; ">
                            </TD>
                            <TD style="border: 0; width: 412.5pt; padding: 0; margin: 0; ">
                            </TD>
                            <TD style="border: 0; width: 82.5pt; padding: 0; margin: 0; ">
                            </TD>
                            <TD style="border: 0; width: 45.0pt; padding: 0; margin: 0; ">
                            </TD>
                        </TR>
                        <TR style="min-height: 3pt; ">
                            <TD style="border-top: 0pt; padding-top: 1pt; border-right: 0pt; border-left: 0pt; padding-left: 0pt; vertical-align: bottom; padding-bottom: 1pt; border-bottom: 0.5pt solid #000000; padding-right: 0pt; ">
                                <P style="margin-left: 0pt; color: #000000; text-indent: 0pt; font-size: 8pt; font-family: Arial, sans-serif; line-height: normal; margin-top: 0; margin-bottom: 0; text-align: center; margin-right: 0pt; "><FONT style="font-weight: bold; "><B>Shares/$ Par</B></FONT></P>
                            </TD>
                            <TD style="border-top: 0pt; padding-top: 0pt; border-right: 0pt; border-left: 0pt; padding-left: 0pt; vertical-align: top; padding-bottom: 0pt; border-bottom: 0.5pt solid #000000; padding-right: 0pt; ">
                                <P style="margin-left: 0pt; font-size: 1pt; line-height: 1pt; margin-top: 0pt; margin-bottom: 0; margin-right: 0pt; ">&#8203;</P>
                            </TD>
                            <TD style="border-top: 0pt; padding-top: 0pt; border-right: 0pt; border-left: 0pt; padding-left: 0pt; vertical-align: bottom; padding-bottom: 0pt; border-bottom: 0.5pt solid #000000; padding-right: 0pt; ">
                                <P style="margin-left: 0pt; font-size: 1pt; line-height: 1pt; margin-top: 0pt; margin-bottom: 0; margin-right: 0pt; ">&#8203;</P>
                            </TD>
                            <TD style="border-top: 0pt; padding-top: 1pt; border-right: 0pt; border-left: 0pt; padding-left: 0pt; vertical-align: bottom; padding-bottom: 1pt; border-bottom: 0.5pt solid #000000; padding-right: 0pt; ">
                                <P style="margin-left: 0pt; color: #000000; text-indent: 0pt; font-size: 8pt; font-family: Arial, sans-serif; line-height: normal; margin-top: 0; margin-bottom: 0; text-align: center; margin-right: 0pt; "><FONT style="font-weight: bold; "><B>Value</B></FONT></P>
                            </TD>
                            <TD style="border-top: 0pt; padding-top: 0pt; border-right: 0pt; border-left: 0pt; padding-left: 0pt; vertical-align: bottom; padding-bottom: 0pt; border-bottom: 0pt; padding-right: 0pt; ">
                                <P style="margin-left: 0pt; font-size: 1pt; line-height: 1pt; margin-top: 0pt; margin-bottom: 0; margin-right: 0pt; ">&#8203;</P>
                            </TD>
                        </TR>
                        <TR style="min-height: 3pt; ">
                            <TD style="background-color: #cceeff; border-top: 0pt; padding-top: 1pt; border-right: 0pt; border-left: 0pt; padding-left: 0pt; vertical-align: top; padding-bottom: 1pt; border-bottom: 0pt; padding-right: 0pt; ">
                                <P style="margin-left: 0pt; color: #000000; font-size: 9pt; font-family: Arial, sans-serif; line-height: normal; margin-top: 0; margin-bottom: 0; text-align: right; margin-right: 0pt; "><FONT>17,700</FONT></P>
                            </TD>
                            <TD style="background-color: #cceeff; border-top: 0pt; padding-top: 0pt; border-right: 0pt; border-left: 0pt; padding-left: 0pt; vertical-align: bottom; padding-bottom: 0pt; border-bottom: 0pt; padding-right: 0pt; ">
                                <P style="margin-left: 0pt; font-size: 1pt; line-height: 1pt; margin-top: 0pt; margin-bottom: 0; margin-right: 0pt; ">&#8203;</P>
                            </TD>
                            <TD style="background-color: #cceeff; border-top: 0pt; padding-top: 1pt; border-right: 0pt; border-left: 0pt; padding-left: 0pt; vertical-align: bottom; padding-bottom: 1pt; border-bottom: 0pt; padding-right: 0pt; ">
                                <P style="margin-left: 11.25pt; color: #000000; text-indent: -11.25pt; font-size: 9pt; font-family: Arial, sans-serif; line-height: normal; margin-top: 0; margin-bottom: 0; text-align: left; margin-right: 0pt; "><FONT>Raymond James Financial, Inc., 6.375% to 07/01/26 then <br>TSFR3M + 4.34961%, Series B </FONT></P>
                            </TD>
                            <TD style="background-color: #cceeff; border-top: 0pt; padding-top: 1pt; border-right: 0pt; border-left: 0pt; padding-left: 0pt; vertical-align: bottom; padding-bottom: 1pt; border-bottom: 0pt; padding-right: 0pt; ">
                                <P style="margin-left: 0pt; color: #000000; font-size: 9pt; font-family: Arial, sans-serif; line-height: normal; margin-top: 0; margin-bottom: 0; text-align: right; margin-right: 0pt; "><FONT style="float: left; "><FONT>$</FONT></FONT><FONT style="float: right; "><A name="pfd-nportex_083125a1204"></A><FONT>&#160;448,522</FONT></FONT><FONT style="font-size: 9pt; ">&#8203;</FONT>                                    <BR clear="all"></P>
                            </TD>
                            <TD style="background-color: #cceeff; border-top: 0pt; padding-top: 1pt; border-right: 0pt; border-left: 0pt; padding-left: 0pt; vertical-align: bottom; padding-bottom: 1pt; border-bottom: 0pt; padding-right: 0pt; ">
                                <P style="margin-left: 0pt; color: #000000; text-indent: 0pt; font-size: 9pt; font-family: Arial, sans-serif; line-height: normal; margin-top: 0; margin-bottom: 0; text-align: left; margin-right: 0pt; "><FONT>*</FONT><SUP style="font-size: 7.0pt; line-height: 7.0pt; ">(1)(2)</SUP><FONT>&#160;</FONT></P>
                            </TD>
                        </TR>
                        <TR style="min-height: 3pt; ">
                            <TD style="border-top: 0pt; padding-top: 1pt; border-right: 0pt; border-left: 0pt; padding-left: 0pt; vertical-align: top; padding-bottom: 1pt; border-bottom: 0pt; padding-right: 0pt; ">
                                <P style="margin-left: 0pt; color: #000000; font-size: 9pt; font-family: Arial, sans-serif; line-height: normal; margin-top: 0; margin-bottom: 0; text-align: right; margin-right: 0pt; "><FONT>20,774</FONT></P>
                            </TD>
                            <TD style="border-top: 0pt; padding-top: 0pt; border-right: 0pt; border-left: 0pt; padding-left: 0pt; vertical-align: bottom; padding-bottom: 0pt; border-bottom: 0pt; padding-right: 0pt; ">
                                <P style="margin-left: 0pt; font-size: 1pt; line-height: 1pt; margin-top: 0pt; margin-bottom: 0; margin-right: 0pt; ">&#8203;</P>
                            </TD>
                            <TD style="border-top: 0pt; padding-top: 1pt; border-right: 0pt; border-left: 0pt; padding-left: 0pt; vertical-align: bottom; padding-bottom: 1pt; border-bottom: 0pt; padding-right: 0pt; ">
                                <P style="margin-left: 11.25pt; color: #000000; text-indent: -11.25pt; font-size: 9pt; font-family: Arial, sans-serif; line-height: normal; margin-top: 0; margin-bottom: 0; text-align: left; margin-right: 0pt; "><FONT>Stifel Financial Corp., 6.25%, Series B </FONT></P>
                            </TD>
                            <TD style="border-top: 0pt; padding-top: 1pt; border-right: 0pt; border-left: 0pt; padding-left: 0pt; vertical-align: bottom; padding-bottom: 1pt; border-bottom: 0pt; padding-right: 0pt; ">
                                <P style="margin-left: 0pt; color: #000000; font-size: 9pt; font-family: Arial, sans-serif; line-height: normal; margin-top: 0; margin-bottom: 0; text-align: right; margin-right: 0pt; "><A name="pfd-nportex_083125a1205"></A><FONT>&#160;521,843</FONT></P>
                            </TD>
                            <TD style="border-top: 0pt; padding-top: 1pt; border-right: 0pt; border-left: 0pt; padding-left: 0pt; vertical-align: bottom; padding-bottom: 1pt; border-bottom: 0pt; padding-right: 0pt; ">
                                <P style="margin-left: 0pt; color: #000000; text-indent: 0pt; font-size: 9pt; font-family: Arial, sans-serif; line-height: normal; margin-top: 0; margin-bottom: 0; text-align: left; margin-right: 0pt; "><FONT>*</FONT><SUP style="font-size: 7.0pt; line-height: 7.0pt; ">(1)</SUP><FONT>&#160;</FONT></P>
                            </TD>
                        </TR>
                        <TR style="min-height: 3pt; ">
                            <TD style="background-color: #cceeff; border-top: 0pt; padding-top: 1pt; border-right: 0pt; border-left: 0pt; padding-left: 0pt; vertical-align: top; padding-bottom: 1pt; border-bottom: 0.5pt solid #000000; padding-right: 0pt; ">
                                <P style="margin-left: 0pt; color: #000000; font-size: 9pt; font-family: Arial, sans-serif; line-height: normal; margin-top: 0; margin-bottom: 0; text-align: right; margin-right: 0pt; "><FONT>21,900</FONT></P>
                            </TD>
                            <TD style="background-color: #cceeff; border-top: 0pt; padding-top: 0pt; border-right: 0pt; border-left: 0pt; padding-left: 0pt; vertical-align: bottom; padding-bottom: 0pt; border-bottom: 0.5pt solid #000000; padding-right: 0pt; ">
                                <P style="margin-left: 0pt; font-size: 1pt; line-height: 1pt; margin-top: 0pt; margin-bottom: 0; margin-right: 0pt; ">&#8203;</P>
                            </TD>
                            <TD style="background-color: #cceeff; border-top: 0pt; padding-top: 1pt; border-right: 0pt; border-left: 0pt; padding-left: 0pt; vertical-align: bottom; padding-bottom: 1pt; border-bottom: 0.5pt solid #000000; padding-right: 0pt; ">
                                <P style="margin-left: 11.25pt; color: #000000; text-indent: -11.25pt; font-size: 9pt; font-family: Arial, sans-serif; line-height: normal; margin-top: 0; margin-bottom: 0; text-align: left; margin-right: 0pt; "><FONT>TPG Operating Group II LP, 6.95% 03/15/64 </FONT></P>
                            </TD>
                            <TD style="background-color: #cceeff; border-top: 0pt; padding-top: 1pt; border-right: 0pt; border-left: 0pt; padding-left: 0pt; vertical-align: bottom; padding-bottom: 1pt; border-bottom: 0.5pt solid #000000; padding-right: 0pt; ">
                                <P style="margin-left: 0pt; color: #000000; font-size: 9pt; font-family: Arial, sans-serif; line-height: normal; margin-top: 0; margin-bottom: 0; text-align: right; margin-right: 0pt; "><A name="pfd-nportex_083125a1206"></A><FONT>&#160;554,508</FONT></P>
                            </TD>
                            <TD style="background-color: #cceeff; border-top: 0pt; padding-top: 0pt; border-right: 0pt; border-left: 0pt; padding-left: 0pt; vertical-align: bottom; padding-bottom: 0pt; border-bottom: 0pt; padding-right: 0pt; ">
                                <P style="margin-left: 0pt; font-size: 1pt; line-height: 1pt; margin-top: 0pt; margin-bottom: 0; margin-right: 0pt; ">&#8203;</P>
                            </TD>
                        </TR>
                        <TR style="min-height: 3pt; ">
                            <TD style="border-top: 0.5pt solid #000000; padding-top: 1pt; border-right: 0pt; border-left: 0pt; padding-left: 0pt; vertical-align: top; padding-bottom: 1pt; border-bottom: 0pt; padding-right: 0pt; ">
                                <P style="margin-left: 0pt; color: #000000; font-size: 9pt; font-family: Arial, sans-serif; line-height: normal; margin-top: 0; margin-bottom: 0; text-align: right; margin-right: 0pt; "><FONT>&#160;</FONT></P>
                            </TD>
                            <TD style="border-top: 0.5pt solid #000000; padding-top: 0pt; border-right: 0pt; border-left: 0pt; padding-left: 0pt; vertical-align: bottom; padding-bottom: 0pt; border-bottom: 0pt; padding-right: 0pt; ">
                                <P style="margin-left: 0pt; font-size: 1pt; line-height: 1pt; margin-top: 0pt; margin-bottom: 0; margin-right: 0pt; ">&#8203;</P>
                            </TD>
                            <TD style="border-top: 0.5pt solid #000000; padding-top: 0pt; border-right: 0pt; border-left: 0pt; padding-left: 0pt; vertical-align: bottom; padding-bottom: 0pt; border-bottom: 0pt; padding-right: 0pt; ">
                                <P style="margin-left: 0pt; font-size: 1pt; line-height: 1pt; margin-top: 0pt; margin-bottom: 0; margin-right: 0pt; ">&#8203;</P>
                            </TD>
                            <TD style="border-top: 0.5pt solid #000000; padding-top: 1pt; border-right: 0pt; border-left: 0pt; padding-left: 0pt; vertical-align: bottom; padding-bottom: 1pt; border-bottom: 0.5pt solid #000000; padding-right: 0pt; ">
                                <P style="margin-left: 0pt; color: #000000; font-size: 9pt; font-family: Arial, sans-serif; line-height: normal; margin-top: 0; margin-bottom: 0; text-align: right; margin-right: 0pt; "><A name="pfd-nportex_083125a1207"></A><FONT>&#160;7,534,008</FONT></P>
                            </TD>
                            <TD style="border-top: 0pt; padding-top: 0pt; border-right: 0pt; border-left: 0pt; padding-left: 0pt; vertical-align: bottom; padding-bottom: 0pt; border-bottom: 0pt; padding-right: 0pt; ">
                                <P style="margin-left: 0pt; font-size: 1pt; line-height: 1pt; margin-top: 0pt; margin-bottom: 0; margin-right: 0pt; ">&#8203;</P>
                            </TD>
                        </TR>
                        <TR style="min-height: 3pt; ">
                            <TD style="background-color: #cceeff; border-top: 0pt; padding-top: 1pt; border-right: 0pt; border-left: 0pt; padding-left: 0pt; vertical-align: top; padding-bottom: 1pt; border-bottom: 0.5pt solid #000000; padding-right: 0pt; ">
                                <P style="margin-left: 0pt; color: #000000; font-size: 9pt; font-family: Arial, sans-serif; line-height: normal; margin-top: 0; margin-bottom: 0; text-align: right; margin-right: 0pt; "><FONT>&#160;</FONT></P>
                            </TD>
                            <TD style="background-color: #cceeff; border-top: 0pt; padding-top: 0pt; border-right: 0pt; border-left: 0pt; padding-left: 0pt; vertical-align: bottom; padding-bottom: 0pt; border-bottom: 0.5pt solid #000000; padding-right: 0pt; ">
                                <P style="margin-left: 0pt; font-size: 1pt; line-height: 1pt; margin-top: 0pt; margin-bottom: 0; margin-right: 0pt; ">&#8203;</P>
                            </TD>
                            <TD style="background-color: #cceeff; border-top: 0pt; padding-top: 1pt; border-right: 0pt; border-left: 0pt; padding-left: 0pt; vertical-align: bottom; padding-bottom: 1pt; border-bottom: 0.5pt solid #000000; padding-right: 0pt; ">
                                <P style="margin-left: 0pt; color: #000000; text-indent: 0pt; font-size: 9pt; font-family: Arial, sans-serif; line-height: normal; margin-top: 0; margin-bottom: 0; text-align: left; margin-right: 0pt; "><FONT style="font-weight: bold; "><B>Insurance &#8212; 17.8%</B></FONT></P>
                            </TD>
                            <TD style="background-color: #cceeff; border-top: 0.5pt solid #000000; padding-top: 0pt; border-right: 0pt; border-left: 0pt; padding-left: 0pt; vertical-align: bottom; padding-bottom: 0pt; border-bottom: 0.5pt solid #000000; padding-right: 0pt; ">
                                <P style="margin-left: 0pt; font-size: 1pt; line-height: 1pt; margin-top: 0pt; margin-bottom: 0; margin-right: 0pt; ">&#8203;</P>
                            </TD>
                            <TD style="background-color: #cceeff; border-top: 0pt; padding-top: 0pt; border-right: 0pt; border-left: 0pt; padding-left: 0pt; vertical-align: bottom; padding-bottom: 0pt; border-bottom: 0pt; padding-right: 0pt; ">
                                <P style="margin-left: 0pt; font-size: 1pt; line-height: 1pt; margin-top: 0pt; margin-bottom: 0; margin-right: 0pt; ">&#8203;</P>
                            </TD>
                        </TR>
                        <TR style="min-height: 3pt; ">
                            <TD style="border-top: 0.5pt solid #000000; padding-top: 1pt; border-right: 0pt; border-left: 0pt; padding-left: 0pt; vertical-align: top; padding-bottom: 1pt; border-bottom: 0pt; padding-right: 0pt; ">
                                <P style="margin-left: 0pt; color: #000000; font-size: 9pt; font-family: Arial, sans-serif; line-height: normal; margin-top: 0; margin-bottom: 0; text-align: right; margin-right: 0pt; "><FONT style="float: left; "><FONT>$</FONT></FONT><FONT style="float: right; "><FONT>1,610,000</FONT></FONT><FONT style="font-size: 9pt; ">&#8203;</FONT>                                    <BR clear="all"></P>
                            </TD>
                            <TD style="border-top: 0.5pt solid #000000; padding-top: 0pt; border-right: 0pt; border-left: 0pt; padding-left: 0pt; vertical-align: bottom; padding-bottom: 0pt; border-bottom: 0pt; padding-right: 0pt; ">
                                <P style="margin-left: 0pt; font-size: 1pt; line-height: 1pt; margin-top: 0pt; margin-bottom: 0; margin-right: 0pt; ">&#8203;</P>
                            </TD>
                            <TD style="border-top: 0.5pt solid #000000; padding-top: 1pt; border-right: 0pt; border-left: 0pt; padding-left: 0pt; vertical-align: bottom; padding-bottom: 1pt; border-bottom: 0pt; padding-right: 0pt; ">
                                <P style="margin-left: 11.25pt; color: #000000; text-indent: -11.25pt; font-size: 9pt; font-family: Arial, sans-serif; line-height: normal; margin-top: 0; margin-bottom: 0; text-align: left; margin-right: 0pt; "><FONT>American International Group, Inc., 8.175% to 05/15/38 then <br>3ML + 4.195%, 05/15/58, Series A-6 </FONT></P>
                            </TD>
                            <TD style="border-top: 0.5pt solid #000000; padding-top: 1pt; border-right: 0pt; border-left: 0pt; padding-left: 0pt; vertical-align: bottom; padding-bottom: 1pt; border-bottom: 0pt; padding-right: 0pt; ">
                                <P style="margin-left: 0pt; color: #000000; font-size: 9pt; font-family: Arial, sans-serif; line-height: normal; margin-top: 0; margin-bottom: 0; text-align: right; margin-right: 0pt; "><A name="pfd-nportex_083125a1208"></A><FONT>&#160;1,790,352</FONT></P>
                            </TD>
                            <TD style="border-top: 0pt; padding-top: 1pt; border-right: 0pt; border-left: 0pt; padding-left: 0pt; vertical-align: bottom; padding-bottom: 1pt; border-bottom: 0pt; padding-right: 0pt; ">
                                <P style="margin-left: 0pt; color: #000000; text-indent: 0pt; font-size: 9pt; font-family: Arial, sans-serif; line-height: normal; margin-top: 0; margin-bottom: 0; text-align: left; margin-right: 0pt; "><SUP style="font-size: 7.0pt; line-height: 7.0pt; ">(2)</SUP><FONT>&#160;</FONT></P>
                            </TD>
                        </TR>
                        <TR style="min-height: 3pt; ">
                            <TD style="background-color: #cceeff; border-top: 0pt; padding-top: 1pt; border-right: 0pt; border-left: 0pt; padding-left: 0pt; vertical-align: top; padding-bottom: 1pt; border-bottom: 0pt; padding-right: 0pt; ">
                                <P style="margin-left: 0pt; color: #000000; font-size: 9pt; font-family: Arial, sans-serif; line-height: normal; margin-top: 0; margin-bottom: 0; text-align: right; margin-right: 0pt; "><FONT>&#160;</FONT></P>
                            </TD>
                            <TD style="background-color: #cceeff; border-top: 0pt; padding-top: 0pt; border-right: 0pt; border-left: 0pt; padding-left: 0pt; vertical-align: bottom; padding-bottom: 0pt; border-bottom: 0pt; padding-right: 0pt; ">
                                <P style="margin-left: 0pt; font-size: 1pt; line-height: 1pt; margin-top: 0pt; margin-bottom: 0; margin-right: 0pt; ">&#8203;</P>
                            </TD>
                            <TD style="background-color: #cceeff; border-top: 0pt; padding-top: 1pt; border-right: 0pt; border-left: 0pt; padding-left: 0pt; vertical-align: bottom; padding-bottom: 1pt; border-bottom: 0pt; padding-right: 0pt; ">
                                <P style="margin-left: 11.25pt; color: #000000; text-indent: -11.25pt; font-size: 9pt; font-family: Arial, sans-serif; line-height: normal; margin-top: 0; margin-bottom: 0; text-align: left; margin-right: 0pt; "><FONT>American National Group, Inc.:</FONT></P>
                            </TD>
                            <TD style="background-color: #cceeff; border-top: 0pt; padding-top: 0pt; border-right: 0pt; border-left: 0pt; padding-left: 0pt; vertical-align: bottom; padding-bottom: 0pt; border-bottom: 0pt; padding-right: 0pt; ">
                                <P style="margin-left: 0pt; font-size: 1pt; line-height: 1pt; margin-top: 0pt; margin-bottom: 0; margin-right: 0pt; ">&#8203;</P>
                            </TD>
                            <TD style="background-color: #cceeff; border-top: 0pt; padding-top: 0pt; border-right: 0pt; border-left: 0pt; padding-left: 0pt; vertical-align: bottom; padding-bottom: 0pt; border-bottom: 0pt; padding-right: 0pt; ">
                                <P style="margin-left: 0pt; font-size: 1pt; line-height: 1pt; margin-top: 0pt; margin-bottom: 0; margin-right: 0pt; ">&#8203;</P>
                            </TD>
                        </TR>
                        <TR style="min-height: 3pt; ">
                            <TD style="border-top: 0pt; padding-top: 1pt; border-right: 0pt; border-left: 0pt; padding-left: 0pt; vertical-align: top; padding-bottom: 1pt; border-bottom: 0pt; padding-right: 0pt; ">
                                <P style="margin-left: 0pt; color: #000000; font-size: 9pt; font-family: Arial, sans-serif; line-height: normal; margin-top: 0; margin-bottom: 0; text-align: right; margin-right: 0pt; "><FONT>24,510</FONT></P>
                            </TD>
                            <TD style="border-top: 0pt; padding-top: 0pt; border-right: 0pt; border-left: 0pt; padding-left: 0pt; vertical-align: bottom; padding-bottom: 0pt; border-bottom: 0pt; padding-right: 0pt; ">
                                <P style="margin-left: 0pt; font-size: 1pt; line-height: 1pt; margin-top: 0pt; margin-bottom: 0; margin-right: 0pt; ">&#8203;</P>
                            </TD>
                            <TD style="border-top: 0pt; padding-top: 1pt; border-right: 0pt; border-left: 0pt; padding-left: 0pt; vertical-align: bottom; padding-bottom: 1pt; border-bottom: 0pt; padding-right: 0pt; ">
                                <P style="margin-left: 22.5pt; color: #000000; text-indent: -11.25pt; font-size: 9pt; font-family: Arial, sans-serif; line-height: normal; margin-top: 0; margin-bottom: 0; text-align: left; margin-right: 0pt; "><FONT>6.625% to 09/01/25 then T5Y + 6.297%, Series B </FONT></P>
                            </TD>
                            <TD style="border-top: 0pt; padding-top: 1pt; border-right: 0pt; border-left: 0pt; padding-left: 0pt; vertical-align: bottom; padding-bottom: 1pt; border-bottom: 0pt; padding-right: 0pt; ">
                                <P style="margin-left: 0pt; color: #000000; font-size: 9pt; font-family: Arial, sans-serif; line-height: normal; margin-top: 0; margin-bottom: 0; text-align: right; margin-right: 0pt; "><A name="pfd-nportex_083125a1209"></A><FONT>&#160;615,446</FONT></P>
                            </TD>
                            <TD style="border-top: 0pt; padding-top: 1pt; border-right: 0pt; border-left: 0pt; padding-left: 0pt; vertical-align: bottom; padding-bottom: 1pt; border-bottom: 0pt; padding-right: 0pt; ">
                                <P style="margin-left: 0pt; color: #000000; text-indent: 0pt; font-size: 9pt; font-family: Arial, sans-serif; line-height: normal; margin-top: 0; margin-bottom: 0; text-align: left; margin-right: 0pt; "><FONT>*</FONT><SUP style="font-size: 7.0pt; line-height: 7.0pt; ">(1)</SUP><FONT>&#160;</FONT></P>
                            </TD>
                        </TR>
                        <TR style="min-height: 3pt; ">
                            <TD style="background-color: #cceeff; border-top: 0pt; padding-top: 1pt; border-right: 0pt; border-left: 0pt; padding-left: 0pt; vertical-align: top; padding-bottom: 1pt; border-bottom: 0pt; padding-right: 0pt; ">
                                <P style="margin-left: 0pt; color: #000000; font-size: 9pt; font-family: Arial, sans-serif; line-height: normal; margin-top: 0; margin-bottom: 0; text-align: right; margin-right: 0pt; "><FONT style="float: left; "><FONT>$</FONT></FONT><FONT style="float: right; "><FONT>575,000</FONT></FONT><FONT style="font-size: 9pt; ">&#8203;</FONT>                                    <BR clear="all"></P>
                            </TD>
                            <TD style="background-color: #cceeff; border-top: 0pt; padding-top: 0pt; border-right: 0pt; border-left: 0pt; padding-left: 0pt; vertical-align: bottom; padding-bottom: 0pt; border-bottom: 0pt; padding-right: 0pt; ">
                                <P style="margin-left: 0pt; font-size: 1pt; line-height: 1pt; margin-top: 0pt; margin-bottom: 0; margin-right: 0pt; ">&#8203;</P>
                            </TD>
                            <TD style="background-color: #cceeff; border-top: 0pt; padding-top: 1pt; border-right: 0pt; border-left: 0pt; padding-left: 0pt; vertical-align: bottom; padding-bottom: 1pt; border-bottom: 0pt; padding-right: 0pt; ">
                                <P style="margin-left: 22.5pt; color: #000000; text-indent: -11.25pt; font-size: 9pt; font-family: Arial, sans-serif; line-height: normal; margin-top: 0; margin-bottom: 0; text-align: left; margin-right: 0pt; "><FONT>7.00% to 12/01/30 then T5Y + 3.183%, 12/01/55 </FONT></P>
                            </TD>
                            <TD style="background-color: #cceeff; border-top: 0pt; padding-top: 1pt; border-right: 0pt; border-left: 0pt; padding-left: 0pt; vertical-align: bottom; padding-bottom: 1pt; border-bottom: 0pt; padding-right: 0pt; ">
                                <P style="margin-left: 0pt; color: #000000; font-size: 9pt; font-family: Arial, sans-serif; line-height: normal; margin-top: 0; margin-bottom: 0; text-align: right; margin-right: 0pt; "><A name="pfd-nportex_083125a1210"></A><FONT>&#160;589,801</FONT></P>
                            </TD>
                            <TD style="background-color: #cceeff; border-top: 0pt; padding-top: 0pt; border-right: 0pt; border-left: 0pt; padding-left: 0pt; vertical-align: bottom; padding-bottom: 0pt; border-bottom: 0pt; padding-right: 0pt; ">
                                <P style="margin-left: 0pt; font-size: 1pt; line-height: 1pt; margin-top: 0pt; margin-bottom: 0; margin-right: 0pt; ">&#8203;</P>
                            </TD>
                        </TR>
                        <TR style="min-height: 3pt; ">
                            <TD style="border-top: 0pt; padding-top: 1pt; border-right: 0pt; border-left: 0pt; padding-left: 0pt; vertical-align: top; padding-bottom: 1pt; border-bottom: 0pt; padding-right: 0pt; ">
                                <P style="margin-left: 0pt; color: #000000; font-size: 9pt; font-family: Arial, sans-serif; line-height: normal; margin-top: 0; margin-bottom: 0; text-align: right; margin-right: 0pt; "><FONT>10,500</FONT></P>
                            </TD>
                            <TD style="border-top: 0pt; padding-top: 0pt; border-right: 0pt; border-left: 0pt; padding-left: 0pt; vertical-align: bottom; padding-bottom: 0pt; border-bottom: 0pt; padding-right: 0pt; ">
                                <P style="margin-left: 0pt; font-size: 1pt; line-height: 1pt; margin-top: 0pt; margin-bottom: 0; margin-right: 0pt; ">&#8203;</P>
                            </TD>
                            <TD style="border-top: 0pt; padding-top: 1pt; border-right: 0pt; border-left: 0pt; padding-left: 0pt; vertical-align: bottom; padding-bottom: 1pt; border-bottom: 0pt; padding-right: 0pt; ">
                                <P style="margin-left: 11.25pt; color: #000000; text-indent: -11.25pt; font-size: 9pt; font-family: Arial, sans-serif; line-height: normal; margin-top: 0; margin-bottom: 0; text-align: left; margin-right: 0pt; "><FONT>Arch Capital Group, Ltd., 5.45%, Series F </FONT></P>
                            </TD>
                            <TD style="border-top: 0pt; padding-top: 1pt; border-right: 0pt; border-left: 0pt; padding-left: 0pt; vertical-align: bottom; padding-bottom: 1pt; border-bottom: 0pt; padding-right: 0pt; ">
                                <P style="margin-left: 0pt; color: #000000; font-size: 9pt; font-family: Arial, sans-serif; line-height: normal; margin-top: 0; margin-bottom: 0; text-align: right; margin-right: 0pt; "><A name="pfd-nportex_083125a1211"></A><FONT>&#160;223,440</FONT></P>
                            </TD>
                            <TD style="border-top: 0pt; padding-top: 1pt; border-right: 0pt; border-left: 0pt; padding-left: 0pt; vertical-align: bottom; padding-bottom: 1pt; border-bottom: 0pt; padding-right: 0pt; ">
                                <P style="margin-left: 0pt; color: #000000; text-indent: 0pt; font-size: 9pt; font-family: Arial, sans-serif; line-height: normal; margin-top: 0; margin-bottom: 0; text-align: left; margin-right: 0pt; "><FONT>**</FONT><SUP style="font-size: 7.0pt; line-height: 7.0pt; ">(1)(5)</SUP><FONT>&#160;</FONT></P>
                            </TD>
                        </TR>
                        <TR style="min-height: 3pt; ">
                            <TD style="background-color: #cceeff; border-top: 0pt; padding-top: 1pt; border-right: 0pt; border-left: 0pt; padding-left: 0pt; vertical-align: top; padding-bottom: 1pt; border-bottom: 0pt; padding-right: 0pt; ">
                                <P style="margin-left: 0pt; color: #000000; font-size: 9pt; font-family: Arial, sans-serif; line-height: normal; margin-top: 0; margin-bottom: 0; text-align: right; margin-right: 0pt; "><FONT>13,100</FONT></P>
                            </TD>
                            <TD style="background-color: #cceeff; border-top: 0pt; padding-top: 0pt; border-right: 0pt; border-left: 0pt; padding-left: 0pt; vertical-align: bottom; padding-bottom: 0pt; border-bottom: 0pt; padding-right: 0pt; ">
                                <P style="margin-left: 0pt; font-size: 1pt; line-height: 1pt; margin-top: 0pt; margin-bottom: 0; margin-right: 0pt; ">&#8203;</P>
                            </TD>
                            <TD style="background-color: #cceeff; border-top: 0pt; padding-top: 1pt; border-right: 0pt; border-left: 0pt; padding-left: 0pt; vertical-align: bottom; padding-bottom: 1pt; border-bottom: 0pt; padding-right: 0pt; ">
                                <P style="margin-left: 11.25pt; color: #000000; text-indent: -11.25pt; font-size: 9pt; font-family: Arial, sans-serif; line-height: normal; margin-top: 0; margin-bottom: 0; text-align: left; margin-right: 0pt; "><FONT>Assurant, Inc., 5.25% 01/15/61 </FONT></P>
                            </TD>
                            <TD style="background-color: #cceeff; border-top: 0pt; padding-top: 1pt; border-right: 0pt; border-left: 0pt; padding-left: 0pt; vertical-align: bottom; padding-bottom: 1pt; border-bottom: 0pt; padding-right: 0pt; ">
                                <P style="margin-left: 0pt; color: #000000; font-size: 9pt; font-family: Arial, sans-serif; line-height: normal; margin-top: 0; margin-bottom: 0; text-align: right; margin-right: 0pt; "><A name="pfd-nportex_083125a1212"></A><FONT>&#160;267,371</FONT></P>
                            </TD>
                            <TD style="background-color: #cceeff; border-top: 0pt; padding-top: 0pt; border-right: 0pt; border-left: 0pt; padding-left: 0pt; vertical-align: bottom; padding-bottom: 0pt; border-bottom: 0pt; padding-right: 0pt; ">
                                <P style="margin-left: 0pt; font-size: 1pt; line-height: 1pt; margin-top: 0pt; margin-bottom: 0; margin-right: 0pt; ">&#8203;</P>
                            </TD>
                        </TR>
                        <TR style="min-height: 3pt; ">
                            <TD style="border-top: 0pt; padding-top: 1pt; border-right: 0pt; border-left: 0pt; padding-left: 0pt; vertical-align: top; padding-bottom: 1pt; border-bottom: 0pt; padding-right: 0pt; ">
                                <P style="margin-left: 0pt; color: #000000; font-size: 9pt; font-family: Arial, sans-serif; line-height: normal; margin-top: 0; margin-bottom: 0; text-align: right; margin-right: 0pt; "><FONT>&#160;</FONT></P>
                            </TD>
                            <TD style="border-top: 0pt; padding-top: 0pt; border-right: 0pt; border-left: 0pt; padding-left: 0pt; vertical-align: bottom; padding-bottom: 0pt; border-bottom: 0pt; padding-right: 0pt; ">
                                <P style="margin-left: 0pt; font-size: 1pt; line-height: 1pt; margin-top: 0pt; margin-bottom: 0; margin-right: 0pt; ">&#8203;</P>
                            </TD>
                            <TD style="border-top: 0pt; padding-top: 1pt; border-right: 0pt; border-left: 0pt; padding-left: 0pt; vertical-align: bottom; padding-bottom: 1pt; border-bottom: 0pt; padding-right: 0pt; ">
                                <P style="margin-left: 11.25pt; color: #000000; text-indent: -11.25pt; font-size: 9pt; font-family: Arial, sans-serif; line-height: normal; margin-top: 0; margin-bottom: 0; text-align: left; margin-right: 0pt; "><FONT>Athene Holding Ltd.:</FONT></P>
                            </TD>
                            <TD style="border-top: 0pt; padding-top: 0pt; border-right: 0pt; border-left: 0pt; padding-left: 0pt; vertical-align: bottom; padding-bottom: 0pt; border-bottom: 0pt; padding-right: 0pt; ">
                                <P style="margin-left: 0pt; font-size: 1pt; line-height: 1pt; margin-top: 0pt; margin-bottom: 0; margin-right: 0pt; ">&#8203;</P>
                            </TD>
                            <TD style="border-top: 0pt; padding-top: 0pt; border-right: 0pt; border-left: 0pt; padding-left: 0pt; vertical-align: bottom; padding-bottom: 0pt; border-bottom: 0pt; padding-right: 0pt; ">
                                <P style="margin-left: 0pt; font-size: 1pt; line-height: 1pt; margin-top: 0pt; margin-bottom: 0; margin-right: 0pt; ">&#8203;</P>
                            </TD>
                        </TR>
                        <TR style="min-height: 3pt; ">
                            <TD style="background-color: #cceeff; border-top: 0pt; padding-top: 1pt; border-right: 0pt; border-left: 0pt; padding-left: 0pt; vertical-align: top; padding-bottom: 1pt; border-bottom: 0pt; padding-right: 0pt; ">
                                <P style="margin-left: 0pt; color: #000000; font-size: 9pt; font-family: Arial, sans-serif; line-height: normal; margin-top: 0; margin-bottom: 0; text-align: right; margin-right: 0pt; "><FONT>21,200</FONT></P>
                            </TD>
                            <TD style="background-color: #cceeff; border-top: 0pt; padding-top: 0pt; border-right: 0pt; border-left: 0pt; padding-left: 0pt; vertical-align: bottom; padding-bottom: 0pt; border-bottom: 0pt; padding-right: 0pt; ">
                                <P style="margin-left: 0pt; font-size: 1pt; line-height: 1pt; margin-top: 0pt; margin-bottom: 0; margin-right: 0pt; ">&#8203;</P>
                            </TD>
                            <TD style="background-color: #cceeff; border-top: 0pt; padding-top: 1pt; border-right: 0pt; border-left: 0pt; padding-left: 0pt; vertical-align: bottom; padding-bottom: 1pt; border-bottom: 0pt; padding-right: 0pt; ">
                                <P style="margin-left: 22.5pt; color: #000000; text-indent: -11.25pt; font-size: 9pt; font-family: Arial, sans-serif; line-height: normal; margin-top: 0; margin-bottom: 0; text-align: left; margin-right: 0pt; "><FONT>4.875%, Series D </FONT></P>
                            </TD>
                            <TD style="background-color: #cceeff; border-top: 0pt; padding-top: 1pt; border-right: 0pt; border-left: 0pt; padding-left: 0pt; vertical-align: bottom; padding-bottom: 1pt; border-bottom: 0pt; padding-right: 0pt; ">
                                <P style="margin-left: 0pt; color: #000000; font-size: 9pt; font-family: Arial, sans-serif; line-height: normal; margin-top: 0; margin-bottom: 0; text-align: right; margin-right: 0pt; "><FONT>376,724</FONT></P>
                            </TD>
                            <TD style="background-color: #cceeff; border-top: 0pt; padding-top: 1pt; border-right: 0pt; border-left: 0pt; padding-left: 0pt; vertical-align: bottom; padding-bottom: 1pt; border-bottom: 0pt; padding-right: 0pt; ">
                                <P style="margin-left: 0pt; color: #000000; text-indent: 0pt; font-size: 9pt; font-family: Arial, sans-serif; line-height: normal; margin-top: 0; margin-bottom: 0; text-align: left; margin-right: 0pt; "><FONT>*</FONT><SUP style="font-size: 7.0pt; line-height: 7.0pt; ">(1)(2)</SUP><FONT>&#160;</FONT></P>
                            </TD>
                        </TR>
                        <TR style="min-height: 3pt; ">
                            <TD style="border-top: 0pt; padding-top: 1pt; border-right: 0pt; border-left: 0pt; padding-left: 0pt; vertical-align: top; padding-bottom: 1pt; border-bottom: 0pt; padding-right: 0pt; ">
                                <P style="margin-left: 0pt; color: #000000; font-size: 9pt; font-family: Arial, sans-serif; line-height: normal; margin-top: 0; margin-bottom: 0; text-align: right; margin-right: 0pt; "><FONT>97,070</FONT></P>
                            </TD>
                            <TD style="border-top: 0pt; padding-top: 0pt; border-right: 0pt; border-left: 0pt; padding-left: 0pt; vertical-align: bottom; padding-bottom: 0pt; border-bottom: 0pt; padding-right: 0pt; ">
                                <P style="margin-left: 0pt; font-size: 1pt; line-height: 1pt; margin-top: 0pt; margin-bottom: 0; margin-right: 0pt; ">&#8203;</P>
                            </TD>
                            <TD style="border-top: 0pt; padding-top: 1pt; border-right: 0pt; border-left: 0pt; padding-left: 0pt; vertical-align: bottom; padding-bottom: 1pt; border-bottom: 0pt; padding-right: 0pt; ">
                                <P style="margin-left: 22.5pt; color: #000000; text-indent: -11.25pt; font-size: 9pt; font-family: Arial, sans-serif; line-height: normal; margin-top: 0; margin-bottom: 0; text-align: left; margin-right: 0pt; "><FONT>6.35% to 06/30/29 then 3ML + 4.253%, Series A </FONT></P>
                            </TD>
                            <TD style="border-top: 0pt; padding-top: 1pt; border-right: 0pt; border-left: 0pt; padding-left: 0pt; vertical-align: bottom; padding-bottom: 1pt; border-bottom: 0pt; padding-right: 0pt; ">
                                <P style="margin-left: 0pt; color: #000000; font-size: 9pt; font-family: Arial, sans-serif; line-height: normal; margin-top: 0; margin-bottom: 0; text-align: right; margin-right: 0pt; "><A name="pfd-nportex_083125a1215"></A><FONT>&#160;2,414,131</FONT></P>
                            </TD>
                            <TD style="border-top: 0pt; padding-top: 1pt; border-right: 0pt; border-left: 0pt; padding-left: 0pt; vertical-align: bottom; padding-bottom: 1pt; border-bottom: 0pt; padding-right: 0pt; ">
                                <P style="margin-left: 0pt; color: #000000; text-indent: 0pt; font-size: 9pt; font-family: Arial, sans-serif; line-height: normal; margin-top: 0; margin-bottom: 0; text-align: left; margin-right: 0pt; "><FONT>*</FONT><SUP style="font-size: 7.0pt; line-height: 7.0pt; ">(1)(2)</SUP><FONT>&#160;</FONT></P>
                            </TD>
                        </TR>
                        <TR style="min-height: 3pt; ">
                            <TD style="background-color: #cceeff; border-top: 0pt; padding-top: 1pt; border-right: 0pt; border-left: 0pt; padding-left: 0pt; vertical-align: top; padding-bottom: 1pt; border-bottom: 0pt; padding-right: 0pt; ">
                                <P style="margin-left: 0pt; color: #000000; font-size: 9pt; font-family: Arial, sans-serif; line-height: normal; margin-top: 0; margin-bottom: 0; text-align: right; margin-right: 0pt; "><FONT>30,920</FONT></P>
                            </TD>
                            <TD style="background-color: #cceeff; border-top: 0pt; padding-top: 0pt; border-right: 0pt; border-left: 0pt; padding-left: 0pt; vertical-align: bottom; padding-bottom: 0pt; border-bottom: 0pt; padding-right: 0pt; ">
                                <P style="margin-left: 0pt; font-size: 1pt; line-height: 1pt; margin-top: 0pt; margin-bottom: 0; margin-right: 0pt; ">&#8203;</P>
                            </TD>
                            <TD style="background-color: #cceeff; border-top: 0pt; padding-top: 1pt; border-right: 0pt; border-left: 0pt; padding-left: 0pt; vertical-align: bottom; padding-bottom: 1pt; border-bottom: 0pt; padding-right: 0pt; ">
                                <P style="margin-left: 22.5pt; color: #000000; text-indent: -11.25pt; font-size: 9pt; font-family: Arial, sans-serif; line-height: normal; margin-top: 0; margin-bottom: 0; text-align: left; margin-right: 0pt; "><FONT>7.25% to 03/30/29 then T5Y + 2.986%, 03/30/64 </FONT></P>
                            </TD>
                            <TD style="background-color: #cceeff; border-top: 0pt; padding-top: 1pt; border-right: 0pt; border-left: 0pt; padding-left: 0pt; vertical-align: bottom; padding-bottom: 1pt; border-bottom: 0pt; padding-right: 0pt; ">
                                <P style="margin-left: 0pt; color: #000000; font-size: 9pt; font-family: Arial, sans-serif; line-height: normal; margin-top: 0; margin-bottom: 0; text-align: right; margin-right: 0pt; "><A name="pfd-nportex_083125a1216"></A><FONT>&#160;783,822</FONT></P>
                            </TD>
                            <TD style="background-color: #cceeff; border-top: 0pt; padding-top: 0pt; border-right: 0pt; border-left: 0pt; padding-left: 0pt; vertical-align: bottom; padding-bottom: 0pt; border-bottom: 0pt; padding-right: 0pt; ">
                                <P style="margin-left: 0pt; font-size: 1pt; line-height: 1pt; margin-top: 0pt; margin-bottom: 0; margin-right: 0pt; ">&#8203;</P>
                            </TD>
                        </TR>
                        <TR style="min-height: 3pt; ">
                            <TD style="border-top: 0pt; padding-top: 1pt; border-right: 0pt; border-left: 0pt; padding-left: 0pt; vertical-align: top; padding-bottom: 1pt; border-bottom: 0pt; padding-right: 0pt; ">
                                <P style="margin-left: 0pt; color: #000000; font-size: 9pt; font-family: Arial, sans-serif; line-height: normal; margin-top: 0; margin-bottom: 0; text-align: right; margin-right: 0pt; "><FONT>17,500</FONT></P>
                            </TD>
                            <TD style="border-top: 0pt; padding-top: 0pt; border-right: 0pt; border-left: 0pt; padding-left: 0pt; vertical-align: bottom; padding-bottom: 0pt; border-bottom: 0pt; padding-right: 0pt; ">
                                <P style="margin-left: 0pt; font-size: 1pt; line-height: 1pt; margin-top: 0pt; margin-bottom: 0; margin-right: 0pt; ">&#8203;</P>
                            </TD>
                            <TD style="border-top: 0pt; padding-top: 1pt; border-right: 0pt; border-left: 0pt; padding-left: 0pt; vertical-align: bottom; padding-bottom: 1pt; border-bottom: 0pt; padding-right: 0pt; ">
                                <P style="margin-left: 11.25pt; color: #000000; text-indent: -11.25pt; font-size: 9pt; font-family: Arial, sans-serif; line-height: normal; margin-top: 0; margin-bottom: 0; text-align: left; margin-right: 0pt; "><FONT>Axis Capital Holdings Ltd., 5.50%, Series E </FONT></P>
                            </TD>
                            <TD style="border-top: 0pt; padding-top: 1pt; border-right: 0pt; border-left: 0pt; padding-left: 0pt; vertical-align: bottom; padding-bottom: 1pt; border-bottom: 0pt; padding-right: 0pt; ">
                                <P style="margin-left: 0pt; color: #000000; font-size: 9pt; font-family: Arial, sans-serif; line-height: normal; margin-top: 0; margin-bottom: 0; text-align: right; margin-right: 0pt; "><A name="pfd-nportex_083125a1217"></A><FONT>&#160;367,325</FONT></P>
                            </TD>
                            <TD style="border-top: 0pt; padding-top: 1pt; border-right: 0pt; border-left: 0pt; padding-left: 0pt; vertical-align: bottom; padding-bottom: 1pt; border-bottom: 0pt; padding-right: 0pt; ">
                                <P style="margin-left: 0pt; color: #000000; text-indent: 0pt; font-size: 9pt; font-family: Arial, sans-serif; line-height: normal; margin-top: 0; margin-bottom: 0; text-align: left; margin-right: 0pt; "><FONT>**</FONT><SUP style="font-size: 7.0pt; line-height: 7.0pt; ">(1)(2)(5)</SUP><FONT>&#160;</FONT></P>
                            </TD>
                        </TR>
                        <TR style="min-height: 3pt; ">
                            <TD style="background-color: #cceeff; border-top: 0pt; padding-top: 1pt; border-right: 0pt; border-left: 0pt; padding-left: 0pt; vertical-align: top; padding-bottom: 1pt; border-bottom: 0pt; padding-right: 0pt; ">
                                <P style="margin-left: 0pt; color: #000000; font-size: 9pt; font-family: Arial, sans-serif; line-height: normal; margin-top: 0; margin-bottom: 0; text-align: right; margin-right: 0pt; "><FONT style="float: left; "><FONT>$</FONT></FONT><FONT style="float: right; "><FONT>655,000</FONT></FONT><FONT style="font-size: 9pt; ">&#8203;</FONT>                                    <BR clear="all"></P>
                            </TD>
                            <TD style="background-color: #cceeff; border-top: 0pt; padding-top: 0pt; border-right: 0pt; border-left: 0pt; padding-left: 0pt; vertical-align: bottom; padding-bottom: 0pt; border-bottom: 0pt; padding-right: 0pt; ">
                                <P style="margin-left: 0pt; font-size: 1pt; line-height: 1pt; margin-top: 0pt; margin-bottom: 0; margin-right: 0pt; ">&#8203;</P>
                            </TD>
                            <TD style="background-color: #cceeff; border-top: 0pt; padding-top: 1pt; border-right: 0pt; border-left: 0pt; padding-left: 0pt; vertical-align: bottom; padding-bottom: 1pt; border-bottom: 0pt; padding-right: 0pt; ">
                                <P style="margin-left: 11.25pt; color: #000000; text-indent: -11.25pt; font-size: 9pt; font-family: Arial, sans-serif; line-height: normal; margin-top: 0; margin-bottom: 0; text-align: left; margin-right: 0pt; "><FONT>AXIS Specialty Finance LLC, 4.90% to 01/15/30 then T5Y + 3.186%, 01/15/40 </FONT></P>
                            </TD>
                            <TD style="background-color: #cceeff; border-top: 0pt; padding-top: 1pt; border-right: 0pt; border-left: 0pt; padding-left: 0pt; vertical-align: bottom; padding-bottom: 1pt; border-bottom: 0pt; padding-right: 0pt; ">
                                <P style="margin-left: 0pt; color: #000000; font-size: 9pt; font-family: Arial, sans-serif; line-height: normal; margin-top: 0; margin-bottom: 0; text-align: right; margin-right: 0pt; "><A name="pfd-nportex_083125a1218"></A><FONT>&#160;635,087</FONT></P>
                            </TD>
                            <TD style="background-color: #cceeff; border-top: 0pt; padding-top: 1pt; border-right: 0pt; border-left: 0pt; padding-left: 0pt; vertical-align: bottom; padding-bottom: 1pt; border-bottom: 0pt; padding-right: 0pt; ">
                                <P style="margin-left: 0pt; color: #000000; text-indent: 0pt; font-size: 9pt; font-family: Arial, sans-serif; line-height: normal; margin-top: 0; margin-bottom: 0; text-align: left; margin-right: 0pt; "><SUP style="font-size: 7.0pt; line-height: 7.0pt; ">(2)(5)</SUP><FONT>&#160;</FONT></P>
                            </TD>
                        </TR>
                        <TR style="min-height: 3pt; ">
                            <TD style="border-top: 0pt; padding-top: 1pt; border-right: 0pt; border-left: 0pt; padding-left: 0pt; vertical-align: top; padding-bottom: 1pt; border-bottom: 0pt; padding-right: 0pt; ">
                                <P style="margin-left: 0pt; color: #000000; font-size: 9pt; font-family: Arial, sans-serif; line-height: normal; margin-top: 0; margin-bottom: 0; text-align: right; margin-right: 0pt; "><FONT>12,500</FONT></P>
                            </TD>
                            <TD style="border-top: 0pt; padding-top: 0pt; border-right: 0pt; border-left: 0pt; padding-left: 0pt; vertical-align: bottom; padding-bottom: 0pt; border-bottom: 0pt; padding-right: 0pt; ">
                                <P style="margin-left: 0pt; font-size: 1pt; line-height: 1pt; margin-top: 0pt; margin-bottom: 0; margin-right: 0pt; ">&#8203;</P>
                            </TD>
                            <TD style="border-top: 0pt; padding-top: 1pt; border-right: 0pt; border-left: 0pt; padding-left: 0pt; vertical-align: bottom; padding-bottom: 1pt; border-bottom: 0pt; padding-right: 0pt; ">
                                <P style="margin-left: 11.25pt; color: #000000; text-indent: -11.25pt; font-size: 9pt; font-family: Arial, sans-serif; line-height: normal; margin-top: 0; margin-bottom: 0; text-align: left; margin-right: 0pt; "><FONT>CNO Financial Group, Inc., 5.125% 11/25/60 </FONT></P>
                            </TD>
                            <TD style="border-top: 0pt; padding-top: 1pt; border-right: 0pt; border-left: 0pt; padding-left: 0pt; vertical-align: bottom; padding-bottom: 1pt; border-bottom: 0pt; padding-right: 0pt; ">
                                <P style="margin-left: 0pt; color: #000000; font-size: 9pt; font-family: Arial, sans-serif; line-height: normal; margin-top: 0; margin-bottom: 0; text-align: right; margin-right: 0pt; "><A name="pfd-nportex_083125a1219"></A><FONT>&#160;251,375</FONT></P>
                            </TD>
                            <TD style="border-top: 0pt; padding-top: 0pt; border-right: 0pt; border-left: 0pt; padding-left: 0pt; vertical-align: bottom; padding-bottom: 0pt; border-bottom: 0pt; padding-right: 0pt; ">
                                <P style="margin-left: 0pt; font-size: 1pt; line-height: 1pt; margin-top: 0pt; margin-bottom: 0; margin-right: 0pt; ">&#8203;</P>
                            </TD>
                        </TR>
                        <TR style="min-height: 3pt; ">
                            <TD style="background-color: #cceeff; border-top: 0pt; padding-top: 1pt; border-right: 0pt; border-left: 0pt; padding-left: 0pt; vertical-align: top; padding-bottom: 1pt; border-bottom: 0pt; padding-right: 0pt; ">
                                <P style="margin-left: 0pt; color: #000000; font-size: 9pt; font-family: Arial, sans-serif; line-height: normal; margin-top: 0; margin-bottom: 0; text-align: right; margin-right: 0pt; "><FONT style="float: left; "><FONT>$</FONT></FONT><FONT style="float: right; "><FONT>640,000</FONT></FONT><FONT style="font-size: 9pt; ">&#8203;</FONT>                                    <BR clear="all"></P>
                            </TD>
                            <TD style="background-color: #cceeff; border-top: 0pt; padding-top: 0pt; border-right: 0pt; border-left: 0pt; padding-left: 0pt; vertical-align: bottom; padding-bottom: 0pt; border-bottom: 0pt; padding-right: 0pt; ">
                                <P style="margin-left: 0pt; font-size: 1pt; line-height: 1pt; margin-top: 0pt; margin-bottom: 0; margin-right: 0pt; ">&#8203;</P>
                            </TD>
                            <TD style="background-color: #cceeff; border-top: 0pt; padding-top: 1pt; border-right: 0pt; border-left: 0pt; padding-left: 0pt; vertical-align: bottom; padding-bottom: 1pt; border-bottom: 0pt; padding-right: 0pt; ">
                                <P style="margin-left: 11.25pt; color: #000000; text-indent: -11.25pt; font-size: 9pt; font-family: Arial, sans-serif; line-height: normal; margin-top: 0; margin-bottom: 0; text-align: left; margin-right: 0pt; "><FONT>Corebridge Financial, Inc., 6.375% to 09/15/34 then T5Y + 2.646%, 09/15/54, 144A**** </FONT></P>
                            </TD>
                            <TD style="background-color: #cceeff; border-top: 0pt; padding-top: 1pt; border-right: 0pt; border-left: 0pt; padding-left: 0pt; vertical-align: bottom; padding-bottom: 1pt; border-bottom: 0pt; padding-right: 0pt; ">
                                <P style="margin-left: 0pt; color: #000000; font-size: 9pt; font-family: Arial, sans-serif; line-height: normal; margin-top: 0; margin-bottom: 0; text-align: right; margin-right: 0pt; "><A name="pfd-nportex_083125a1220"></A><FONT>&#160;649,423</FONT></P>
                            </TD>
                            <TD style="background-color: #cceeff; border-top: 0pt; padding-top: 0pt; border-right: 0pt; border-left: 0pt; padding-left: 0pt; vertical-align: bottom; padding-bottom: 0pt; border-bottom: 0pt; padding-right: 0pt; ">
                                <P style="margin-left: 0pt; font-size: 1pt; line-height: 1pt; margin-top: 0pt; margin-bottom: 0; margin-right: 0pt; ">&#8203;</P>
                            </TD>
                        </TR>
                        <TR style="min-height: 3pt; ">
                            <TD style="border-top: 0pt; padding-top: 1pt; border-right: 0pt; border-left: 0pt; padding-left: 0pt; vertical-align: top; padding-bottom: 1pt; border-bottom: 0pt; padding-right: 0pt; ">
                                <P style="margin-left: 0pt; color: #000000; font-size: 9pt; font-family: Arial, sans-serif; line-height: normal; margin-top: 0; margin-bottom: 0; text-align: right; margin-right: 0pt; "><FONT style="float: left; "><FONT>$</FONT></FONT><FONT style="float: right; "><FONT>530,000</FONT></FONT><FONT style="font-size: 9pt; ">&#8203;</FONT>                                    <BR clear="all"></P>
                            </TD>
                            <TD style="border-top: 0pt; padding-top: 0pt; border-right: 0pt; border-left: 0pt; padding-left: 0pt; vertical-align: bottom; padding-bottom: 0pt; border-bottom: 0pt; padding-right: 0pt; ">
                                <P style="margin-left: 0pt; font-size: 1pt; line-height: 1pt; margin-top: 0pt; margin-bottom: 0; margin-right: 0pt; ">&#8203;</P>
                            </TD>
                            <TD style="border-top: 0pt; padding-top: 1pt; border-right: 0pt; border-left: 0pt; padding-left: 0pt; vertical-align: bottom; padding-bottom: 1pt; border-bottom: 0pt; padding-right: 0pt; ">
                                <P style="margin-left: 11.25pt; color: #000000; text-indent: -11.25pt; font-size: 9pt; font-family: Arial, sans-serif; line-height: normal; margin-top: 0; margin-bottom: 0; text-align: left; margin-right: 0pt; "><FONT>CVS Health Corporation, 7.00% to 03/10/30 then <br>T5Y + 2.886%, 03/10/55, Series A </FONT></P>
                            </TD>
                            <TD style="border-top: 0pt; padding-top: 1pt; border-right: 0pt; border-left: 0pt; padding-left: 0pt; vertical-align: bottom; padding-bottom: 1pt; border-bottom: 0pt; padding-right: 0pt; ">
                                <P style="margin-left: 0pt; color: #000000; font-size: 9pt; font-family: Arial, sans-serif; line-height: normal; margin-top: 0; margin-bottom: 0; text-align: right; margin-right: 0pt; "><A name="pfd-nportex_083125a1221"></A><FONT>&#160;553,112</FONT></P>
                            </TD>
                            <TD style="border-top: 0pt; padding-top: 0pt; border-right: 0pt; border-left: 0pt; padding-left: 0pt; vertical-align: bottom; padding-bottom: 0pt; border-bottom: 0pt; padding-right: 0pt; ">
                                <P style="margin-left: 0pt; font-size: 1pt; line-height: 1pt; margin-top: 0pt; margin-bottom: 0; margin-right: 0pt; ">&#8203;</P>
                            </TD>
                        </TR>
                        <TR style="min-height: 3pt; ">
                            <TD style="background-color: #cceeff; border-top: 0pt; padding-top: 1pt; border-right: 0pt; border-left: 0pt; padding-left: 0pt; vertical-align: top; padding-bottom: 1pt; border-bottom: 0pt; padding-right: 0pt; ">
                                <P style="margin-left: 0pt; color: #000000; font-size: 9pt; font-family: Arial, sans-serif; line-height: normal; margin-top: 0; margin-bottom: 0; text-align: right; margin-right: 0pt; "><FONT>139,279</FONT></P>
                            </TD>
                            <TD style="background-color: #cceeff; border-top: 0pt; padding-top: 0pt; border-right: 0pt; border-left: 0pt; padding-left: 0pt; vertical-align: bottom; padding-bottom: 0pt; border-bottom: 0pt; padding-right: 0pt; ">
                                <P style="margin-left: 0pt; font-size: 1pt; line-height: 1pt; margin-top: 0pt; margin-bottom: 0; margin-right: 0pt; ">&#8203;</P>
                            </TD>
                            <TD style="background-color: #cceeff; border-top: 0pt; padding-top: 1pt; border-right: 0pt; border-left: 0pt; padding-left: 0pt; vertical-align: bottom; padding-bottom: 1pt; border-bottom: 0pt; padding-right: 0pt; ">
                                <P style="margin-left: 11.25pt; color: #000000; text-indent: -11.25pt; font-size: 9pt; font-family: Arial, sans-serif; line-height: normal; margin-top: 0; margin-bottom: 0; text-align: left; margin-right: 0pt; "><FONT>Delphi Financial Group, TSFR3M + 3.45161%, 7.66299%</FONT><SUP style="font-size: 7.0pt; line-height: 7.0pt; ">(4)</SUP><FONT>, 05/15/37 </FONT></P>
                            </TD>
                            <TD style="background-color: #cceeff; border-top: 0pt; padding-top: 1pt; border-right: 0pt; border-left: 0pt; padding-left: 0pt; vertical-align: bottom; padding-bottom: 1pt; border-bottom: 0pt; padding-right: 0pt; ">
                                <P style="margin-left: 0pt; color: #000000; font-size: 9pt; font-family: Arial, sans-serif; line-height: normal; margin-top: 0; margin-bottom: 0; text-align: right; margin-right: 0pt; "><A name="pfd-nportex_083125a1222"></A><FONT>&#160;3,387,962</FONT></P>
                            </TD>
                            <TD style="background-color: #cceeff; border-top: 0pt; padding-top: 1pt; border-right: 0pt; border-left: 0pt; padding-left: 0pt; vertical-align: bottom; padding-bottom: 1pt; border-bottom: 0pt; padding-right: 0pt; ">
                                <P style="margin-left: 0pt; color: #000000; text-indent: 0pt; font-size: 9pt; font-family: Arial, sans-serif; line-height: normal; margin-top: 0; margin-bottom: 0; text-align: left; margin-right: 0pt; "><SUP style="font-size: 7.0pt; line-height: 7.0pt; ">(2)(3)</SUP><FONT>&#160;</FONT></P>
                            </TD>
                        </TR>
                        <TR style="min-height: 3pt; ">
                            <TD style="border-top: 0pt; padding-top: 1pt; border-right: 0pt; border-left: 0pt; padding-left: 0pt; vertical-align: top; padding-bottom: 1pt; border-bottom: 0pt; padding-right: 0pt; ">
                                <P style="margin-left: 0pt; color: #000000; font-size: 9pt; font-family: Arial, sans-serif; line-height: normal; margin-top: 0; margin-bottom: 0; text-align: right; margin-right: 0pt; "><FONT>&#160;</FONT></P>
                            </TD>
                            <TD style="border-top: 0pt; padding-top: 0pt; border-right: 0pt; border-left: 0pt; padding-left: 0pt; vertical-align: bottom; padding-bottom: 0pt; border-bottom: 0pt; padding-right: 0pt; ">
                                <P style="margin-left: 0pt; font-size: 1pt; line-height: 1pt; margin-top: 0pt; margin-bottom: 0; margin-right: 0pt; ">&#8203;</P>
                            </TD>
                            <TD style="border-top: 0pt; padding-top: 1pt; border-right: 0pt; border-left: 0pt; padding-left: 0pt; vertical-align: bottom; padding-bottom: 1pt; border-bottom: 0pt; padding-right: 0pt; ">
                                <P style="margin-left: 11.25pt; color: #000000; text-indent: -11.25pt; font-size: 9pt; font-family: Arial, sans-serif; line-height: normal; margin-top: 0; margin-bottom: 0; text-align: left; margin-right: 0pt; "><FONT>Enstar Group Ltd.:</FONT></P>
                            </TD>
                            <TD style="border-top: 0pt; padding-top: 0pt; border-right: 0pt; border-left: 0pt; padding-left: 0pt; vertical-align: bottom; padding-bottom: 0pt; border-bottom: 0pt; padding-right: 0pt; ">
                                <P style="margin-left: 0pt; font-size: 1pt; line-height: 1pt; margin-top: 0pt; margin-bottom: 0; margin-right: 0pt; ">&#8203;</P>
                            </TD>
                            <TD style="border-top: 0pt; padding-top: 0pt; border-right: 0pt; border-left: 0pt; padding-left: 0pt; vertical-align: bottom; padding-bottom: 0pt; border-bottom: 0pt; padding-right: 0pt; ">
                                <P style="margin-left: 0pt; font-size: 1pt; line-height: 1pt; margin-top: 0pt; margin-bottom: 0; margin-right: 0pt; ">&#8203;</P>
                            </TD>
                        </TR>
                        <TR style="min-height: 3pt; ">
                            <TD style="background-color: #cceeff; border-top: 0pt; padding-top: 1pt; border-right: 0pt; border-left: 0pt; padding-left: 0pt; vertical-align: top; padding-bottom: 1pt; border-bottom: 0pt; padding-right: 0pt; ">
                                <P style="margin-left: 0pt; color: #000000; font-size: 9pt; font-family: Arial, sans-serif; line-height: normal; margin-top: 0; margin-bottom: 0; text-align: right; margin-right: 0pt; "><FONT>45,000</FONT></P>
                            </TD>
                            <TD style="background-color: #cceeff; border-top: 0pt; padding-top: 0pt; border-right: 0pt; border-left: 0pt; padding-left: 0pt; vertical-align: bottom; padding-bottom: 0pt; border-bottom: 0pt; padding-right: 0pt; ">
                                <P style="margin-left: 0pt; font-size: 1pt; line-height: 1pt; margin-top: 0pt; margin-bottom: 0; margin-right: 0pt; ">&#8203;</P>
                            </TD>
                            <TD style="background-color: #cceeff; border-top: 0pt; padding-top: 1pt; border-right: 0pt; border-left: 0pt; padding-left: 0pt; vertical-align: bottom; padding-bottom: 1pt; border-bottom: 0pt; padding-right: 0pt; ">
                                <P style="margin-left: 22.5pt; color: #000000; text-indent: -11.25pt; font-size: 9pt; font-family: Arial, sans-serif; line-height: normal; margin-top: 0; margin-bottom: 0; text-align: left; margin-right: 0pt; "><FONT>7.00% to 09/01/28 then TSFR3M + 4.27661%, Series D </FONT></P>
                            </TD>
                            <TD style="background-color: #cceeff; border-top: 0pt; padding-top: 1pt; border-right: 0pt; border-left: 0pt; padding-left: 0pt; vertical-align: bottom; padding-bottom: 1pt; border-bottom: 0pt; padding-right: 0pt; ">
                                <P style="margin-left: 0pt; color: #000000; font-size: 9pt; font-family: Arial, sans-serif; line-height: normal; margin-top: 0; margin-bottom: 0; text-align: right; margin-right: 0pt; "><A name="pfd-nportex_083125a1223"></A><FONT>&#160;1,066,500</FONT></P>
                            </TD>
                            <TD style="background-color: #cceeff; border-top: 0pt; padding-top: 1pt; border-right: 0pt; border-left: 0pt; padding-left: 0pt; vertical-align: bottom; padding-bottom: 1pt; border-bottom: 0pt; padding-right: 0pt; ">
                                <P style="margin-left: 0pt; color: #000000; text-indent: 0pt; font-size: 9pt; font-family: Arial, sans-serif; line-height: normal; margin-top: 0; margin-bottom: 0; text-align: left; margin-right: 0pt; "><FONT>**</FONT><SUP style="font-size: 7.0pt; line-height: 7.0pt; ">(1)(2)(5)</SUP><FONT>&#160;</FONT></P>
                            </TD>
                        </TR>
                        <TR style="min-height: 3pt; ">
                            <TD style="border-top: 0pt; padding-top: 1pt; border-right: 0pt; border-left: 0pt; padding-left: 0pt; vertical-align: top; padding-bottom: 1pt; border-bottom: 0pt; padding-right: 0pt; ">
                                <P style="margin-left: 0pt; color: #000000; font-size: 9pt; font-family: Arial, sans-serif; line-height: normal; margin-top: 0; margin-bottom: 0; text-align: right; margin-right: 0pt; "><FONT style="float: left; "><FONT>$</FONT></FONT><FONT style="float: right; "><FONT>425,000</FONT></FONT><FONT style="font-size: 9pt; ">&#8203;</FONT>                                    <BR clear="all"></P>
                            </TD>
                            <TD style="border-top: 0pt; padding-top: 0pt; border-right: 0pt; border-left: 0pt; padding-left: 0pt; vertical-align: bottom; padding-bottom: 0pt; border-bottom: 0pt; padding-right: 0pt; ">
                                <P style="margin-left: 0pt; font-size: 1pt; line-height: 1pt; margin-top: 0pt; margin-bottom: 0; margin-right: 0pt; ">&#8203;</P>
                            </TD>
                            <TD style="border-top: 0pt; padding-top: 1pt; border-right: 0pt; border-left: 0pt; padding-left: 0pt; vertical-align: bottom; padding-bottom: 1pt; border-bottom: 0pt; padding-right: 0pt; ">
                                <P style="margin-left: 22.5pt; color: #000000; text-indent: -11.25pt; font-size: 9pt; font-family: Arial, sans-serif; line-height: normal; margin-top: 0; margin-bottom: 0; text-align: left; margin-right: 0pt; "><FONT>7.50% to 04/01/35 then T5Y + 3.186%, 04/01/45, 144A**** </FONT></P>
                            </TD>
                            <TD style="border-top: 0pt; padding-top: 1pt; border-right: 0pt; border-left: 0pt; padding-left: 0pt; vertical-align: bottom; padding-bottom: 1pt; border-bottom: 0pt; padding-right: 0pt; ">
                                <P style="margin-left: 0pt; color: #000000; font-size: 9pt; font-family: Arial, sans-serif; line-height: normal; margin-top: 0; margin-bottom: 0; text-align: right; margin-right: 0pt; "><A name="pfd-nportex_083125a1224"></A><FONT>&#160;443,984</FONT></P>
                            </TD>
                            <TD style="border-top: 0pt; padding-top: 1pt; border-right: 0pt; border-left: 0pt; padding-left: 0pt; vertical-align: bottom; padding-bottom: 1pt; border-bottom: 0pt; padding-right: 0pt; ">
                                <P style="margin-left: 0pt; color: #000000; text-indent: 0pt; font-size: 9pt; font-family: Arial, sans-serif; line-height: normal; margin-top: 0; margin-bottom: 0; text-align: left; margin-right: 0pt; "><SUP style="font-size: 7.0pt; line-height: 7.0pt; ">(5)</SUP><FONT>&#160;</FONT></P>
                            </TD>
                        </TR>
                        <TR style="min-height: 3pt; ">
                            <TD style="background-color: #cceeff; border-top: 0pt; padding-top: 1pt; border-right: 0pt; border-left: 0pt; padding-left: 0pt; vertical-align: top; padding-bottom: 1pt; border-bottom: 0pt; padding-right: 0pt; ">
                                <P style="margin-left: 0pt; color: #000000; font-size: 9pt; font-family: Arial, sans-serif; line-height: normal; margin-top: 0; margin-bottom: 0; text-align: right; margin-right: 0pt; "><FONT style="float: left; "><FONT>$</FONT></FONT><FONT style="float: right; "><FONT>560,000</FONT></FONT><FONT style="font-size: 9pt; ">&#8203;</FONT>                                    <BR clear="all"></P>
                            </TD>
                            <TD style="background-color: #cceeff; border-top: 0pt; padding-top: 0pt; border-right: 0pt; border-left: 0pt; padding-left: 0pt; vertical-align: bottom; padding-bottom: 0pt; border-bottom: 0pt; padding-right: 0pt; ">
                                <P style="margin-left: 0pt; font-size: 1pt; line-height: 1pt; margin-top: 0pt; margin-bottom: 0; margin-right: 0pt; ">&#8203;</P>
                            </TD>
                            <TD style="background-color: #cceeff; border-top: 0pt; padding-top: 1pt; border-right: 0pt; border-left: 0pt; padding-left: 0pt; vertical-align: bottom; padding-bottom: 1pt; border-bottom: 0pt; padding-right: 0pt; ">
                                <P style="margin-left: 22.5pt; color: #000000; text-indent: -11.25pt; font-size: 9pt; font-family: Arial, sans-serif; line-height: normal; margin-top: 0; margin-bottom: 0; text-align: left; margin-right: 0pt; "><FONT>Enstar Finance LLC, 5.50% to 01/15/27 then T5Y + 4.006%, 01/15/42 </FONT></P>
                            </TD>
                            <TD style="background-color: #cceeff; border-top: 0pt; padding-top: 1pt; border-right: 0pt; border-left: 0pt; padding-left: 0pt; vertical-align: bottom; padding-bottom: 1pt; border-bottom: 0pt; padding-right: 0pt; ">
                                <P style="margin-left: 0pt; color: #000000; font-size: 9pt; font-family: Arial, sans-serif; line-height: normal; margin-top: 0; margin-bottom: 0; text-align: right; margin-right: 0pt; "><A name="pfd-nportex_083125a1225"></A><FONT>&#160;554,437</FONT></P>
                            </TD>
                            <TD style="background-color: #cceeff; border-top: 0pt; padding-top: 1pt; border-right: 0pt; border-left: 0pt; padding-left: 0pt; vertical-align: bottom; padding-bottom: 1pt; border-bottom: 0pt; padding-right: 0pt; ">
                                <P style="margin-left: 0pt; color: #000000; text-indent: 0pt; font-size: 9pt; font-family: Arial, sans-serif; line-height: normal; margin-top: 0; margin-bottom: 0; text-align: left; margin-right: 0pt; "><SUP style="font-size: 7.0pt; line-height: 7.0pt; ">(5)</SUP><FONT>&#160;</FONT></P>
                            </TD>
                        </TR>
                        <TR style="min-height: 3pt; ">
                            <TD style="border-top: 0pt; padding-top: 1pt; border-right: 0pt; border-left: 0pt; padding-left: 0pt; vertical-align: top; padding-bottom: 1pt; border-bottom: 0pt; padding-right: 0pt; ">
                                <P style="margin-left: 0pt; color: #000000; font-size: 9pt; font-family: Arial, sans-serif; line-height: normal; margin-top: 0; margin-bottom: 0; text-align: right; margin-right: 0pt; "><FONT style="float: left; "><FONT>$</FONT></FONT><FONT style="float: right; "><FONT>500,000</FONT></FONT><FONT style="font-size: 9pt; ">&#8203;</FONT>                                    <BR clear="all"></P>
                            </TD>
                            <TD style="border-top: 0pt; padding-top: 0pt; border-right: 0pt; border-left: 0pt; padding-left: 0pt; vertical-align: bottom; padding-bottom: 0pt; border-bottom: 0pt; padding-right: 0pt; ">
                                <P style="margin-left: 0pt; font-size: 1pt; line-height: 1pt; margin-top: 0pt; margin-bottom: 0; margin-right: 0pt; ">&#8203;</P>
                            </TD>
                            <TD style="border-top: 0pt; padding-top: 1pt; border-right: 0pt; border-left: 0pt; padding-left: 0pt; vertical-align: bottom; padding-bottom: 1pt; border-bottom: 0pt; padding-right: 0pt; ">
                                <P style="margin-left: 11.25pt; color: #000000; text-indent: -11.25pt; font-size: 9pt; font-family: Arial, sans-serif; line-height: normal; margin-top: 0; margin-bottom: 0; text-align: left; margin-right: 0pt; "><FONT>Equitable Holdings, Inc., 6.70% to 03/28/35 then T5Y + 2.39%, 03/28/55 </FONT></P>
                            </TD>
                            <TD style="border-top: 0pt; padding-top: 1pt; border-right: 0pt; border-left: 0pt; padding-left: 0pt; vertical-align: bottom; padding-bottom: 1pt; border-bottom: 0pt; padding-right: 0pt; ">
                                <P style="margin-left: 0pt; color: #000000; font-size: 9pt; font-family: Arial, sans-serif; line-height: normal; margin-top: 0; margin-bottom: 0; text-align: right; margin-right: 0pt; "><A name="pfd-nportex_083125a1226"></A><FONT>&#160;511,648</FONT></P>
                            </TD>
                            <TD style="border-top: 0pt; padding-top: 0pt; border-right: 0pt; border-left: 0pt; padding-left: 0pt; vertical-align: bottom; padding-bottom: 0pt; border-bottom: 0pt; padding-right: 0pt; ">
                                <P style="margin-left: 0pt; font-size: 1pt; line-height: 1pt; margin-top: 0pt; margin-bottom: 0; margin-right: 0pt; ">&#8203;</P>
                            </TD>
                        </TR>
                        <TR style="min-height: 3pt; ">
                            <TD style="background-color: #cceeff; border-top: 0pt; padding-top: 1pt; border-right: 0pt; border-left: 0pt; padding-left: 0pt; vertical-align: top; padding-bottom: 1pt; border-bottom: 0pt; padding-right: 0pt; ">
                                <P style="margin-left: 0pt; color: #000000; font-size: 9pt; font-family: Arial, sans-serif; line-height: normal; margin-top: 0; margin-bottom: 0; text-align: right; margin-right: 0pt; "><FONT style="float: left; "><FONT>$</FONT></FONT><FONT style="float: right; "><FONT>885,000</FONT></FONT><FONT style="font-size: 9pt; ">&#8203;</FONT>                                    <BR clear="all"></P>
                            </TD>
                            <TD style="background-color: #cceeff; border-top: 0pt; padding-top: 0pt; border-right: 0pt; border-left: 0pt; padding-left: 0pt; vertical-align: bottom; padding-bottom: 0pt; border-bottom: 0pt; padding-right: 0pt; ">
                                <P style="margin-left: 0pt; font-size: 1pt; line-height: 1pt; margin-top: 0pt; margin-bottom: 0; margin-right: 0pt; ">&#8203;</P>
                            </TD>
                            <TD style="background-color: #cceeff; border-top: 0pt; padding-top: 1pt; border-right: 0pt; border-left: 0pt; padding-left: 0pt; vertical-align: bottom; padding-bottom: 1pt; border-bottom: 0pt; padding-right: 0pt; ">
                                <P style="margin-left: 11.25pt; color: #000000; text-indent: -11.25pt; font-size: 9pt; font-family: Arial, sans-serif; line-height: normal; margin-top: 0; margin-bottom: 0; text-align: left; margin-right: 0pt; "><FONT>Everest Reinsurance Holdings, TSFR3M + 2.6466%, 6.85799%</FONT><SUP style="font-size: 7.0pt; line-height: 7.0pt; ">(4)</SUP><FONT>, 05/15/37 </FONT></P>
                            </TD>
                            <TD style="background-color: #cceeff; border-top: 0pt; padding-top: 1pt; border-right: 0pt; border-left: 0pt; padding-left: 0pt; vertical-align: bottom; padding-bottom: 1pt; border-bottom: 0pt; padding-right: 0pt; ">
                                <P style="margin-left: 0pt; color: #000000; font-size: 9pt; font-family: Arial, sans-serif; line-height: normal; margin-top: 0; margin-bottom: 0; text-align: right; margin-right: 0pt; "><A name="pfd-nportex_083125a1227"></A><FONT>&#160;849,223</FONT></P>
                            </TD>
                            <TD style="background-color: #cceeff; border-top: 0pt; padding-top: 1pt; border-right: 0pt; border-left: 0pt; padding-left: 0pt; vertical-align: bottom; padding-bottom: 1pt; border-bottom: 0pt; padding-right: 0pt; ">
                                <P style="margin-left: 0pt; color: #000000; text-indent: 0pt; font-size: 9pt; font-family: Arial, sans-serif; line-height: normal; margin-top: 0; margin-bottom: 0; text-align: left; margin-right: 0pt; "><SUP style="font-size: 7.0pt; line-height: 7.0pt; ">(2)(3)</SUP><FONT>&#160;</FONT></P>
                            </TD>
                        </TR>
                        <TR style="min-height: 3pt; ">
                            <TD style="border-top: 0pt; padding-top: 1pt; border-right: 0pt; border-left: 0pt; padding-left: 0pt; vertical-align: top; padding-bottom: 1pt; border-bottom: 0pt; padding-right: 0pt; ">
                                <P style="margin-left: 0pt; color: #000000; font-size: 9pt; font-family: Arial, sans-serif; line-height: normal; margin-top: 0; margin-bottom: 0; text-align: right; margin-right: 0pt; "><FONT>19,100</FONT></P>
                            </TD>
                            <TD style="border-top: 0pt; padding-top: 0pt; border-right: 0pt; border-left: 0pt; padding-left: 0pt; vertical-align: bottom; padding-bottom: 0pt; border-bottom: 0pt; padding-right: 0pt; ">
                                <P style="margin-left: 0pt; font-size: 1pt; line-height: 1pt; margin-top: 0pt; margin-bottom: 0; margin-right: 0pt; ">&#8203;</P>
                            </TD>
                            <TD style="border-top: 0pt; padding-top: 1pt; border-right: 0pt; border-left: 0pt; padding-left: 0pt; vertical-align: bottom; padding-bottom: 1pt; border-bottom: 0pt; padding-right: 0pt; ">
                                <P style="margin-left: 11.25pt; color: #000000; text-indent: -11.25pt; font-size: 9pt; font-family: Arial, sans-serif; line-height: normal; margin-top: 0; margin-bottom: 0; text-align: left; margin-right: 0pt; "><FONT>F&amp;G Annuities &amp; Life, Inc., 7.30% 01/15/65 </FONT></P>
                            </TD>
                            <TD style="border-top: 0pt; padding-top: 1pt; border-right: 0pt; border-left: 0pt; padding-left: 0pt; vertical-align: bottom; padding-bottom: 1pt; border-bottom: 0pt; padding-right: 0pt; ">
                                <P style="margin-left: 0pt; color: #000000; font-size: 9pt; font-family: Arial, sans-serif; line-height: normal; margin-top: 0; margin-bottom: 0; text-align: right; margin-right: 0pt; "><A name="pfd-nportex_083125a1228"></A><FONT>&#160;459,737</FONT></P>
                            </TD>
                            <TD style="border-top: 0pt; padding-top: 0pt; border-right: 0pt; border-left: 0pt; padding-left: 0pt; vertical-align: bottom; padding-bottom: 0pt; border-bottom: 0pt; padding-right: 0pt; ">
                                <P style="margin-left: 0pt; font-size: 1pt; line-height: 1pt; margin-top: 0pt; margin-bottom: 0; margin-right: 0pt; ">&#8203;</P>
                            </TD>
                        </TR>
                        <TR style="min-height: 3pt; ">
                            <TD style="background-color: #cceeff; border-top: 0pt; padding-top: 1pt; border-right: 0pt; border-left: 0pt; padding-left: 0pt; vertical-align: top; padding-bottom: 1pt; border-bottom: 0pt; padding-right: 0pt; ">
                                <P style="margin-left: 0pt; color: #000000; font-size: 9pt; font-family: Arial, sans-serif; line-height: normal; margin-top: 0; margin-bottom: 0; text-align: right; margin-right: 0pt; "><FONT style="float: left; "><FONT>$</FONT></FONT><FONT style="float: right; "><FONT>470,000</FONT></FONT><FONT style="font-size: 9pt; ">&#8203;</FONT>                                    <BR clear="all"></P>
                            </TD>
                            <TD style="background-color: #cceeff; border-top: 0pt; padding-top: 0pt; border-right: 0pt; border-left: 0pt; padding-left: 0pt; vertical-align: bottom; padding-bottom: 0pt; border-bottom: 0pt; padding-right: 0pt; ">
                                <P style="margin-left: 0pt; font-size: 1pt; line-height: 1pt; margin-top: 0pt; margin-bottom: 0; margin-right: 0pt; ">&#8203;</P>
                            </TD>
                            <TD style="background-color: #cceeff; border-top: 0pt; padding-top: 1pt; border-right: 0pt; border-left: 0pt; padding-left: 0pt; vertical-align: bottom; padding-bottom: 1pt; border-bottom: 0pt; padding-right: 0pt; ">
                                <P style="margin-left: 11.25pt; color: #000000; text-indent: -11.25pt; font-size: 9pt; font-family: Arial, sans-serif; line-height: normal; margin-top: 0; margin-bottom: 0; text-align: left; margin-right: 0pt; "><FONT>Fortegra Group, Inc., 9.25% to 11/15/34 then T5Y + 8.72%, 11/15/64, 144A**** </FONT></P>
                            </TD>
                            <TD style="background-color: #cceeff; border-top: 0pt; padding-top: 1pt; border-right: 0pt; border-left: 0pt; padding-left: 0pt; vertical-align: bottom; padding-bottom: 1pt; border-bottom: 0pt; padding-right: 0pt; ">
                                <P style="margin-left: 0pt; color: #000000; font-size: 9pt; font-family: Arial, sans-serif; line-height: normal; margin-top: 0; margin-bottom: 0; text-align: right; margin-right: 0pt; "><A name="pfd-nportex_083125a1229"></A><FONT>&#160;468,825</FONT></P>
                            </TD>
                            <TD style="background-color: #cceeff; border-top: 0pt; padding-top: 0pt; border-right: 0pt; border-left: 0pt; padding-left: 0pt; vertical-align: bottom; padding-bottom: 0pt; border-bottom: 0pt; padding-right: 0pt; ">
                                <P style="margin-left: 0pt; font-size: 1pt; line-height: 1pt; margin-top: 0pt; margin-bottom: 0; margin-right: 0pt; ">&#8203;</P>
                            </TD>
                        </TR>
                        <TR style="min-height: 3pt; ">
                            <TD style="border-top: 0pt; padding-top: 1pt; border-right: 0pt; border-left: 0pt; padding-left: 0pt; vertical-align: top; padding-bottom: 1pt; border-bottom: 0pt; padding-right: 0pt; ">
                                <P style="margin-left: 0pt; color: #000000; font-size: 9pt; font-family: Arial, sans-serif; line-height: normal; margin-top: 0; margin-bottom: 0; text-align: right; margin-right: 0pt; "><FONT>&#160;</FONT></P>
                            </TD>
                            <TD style="border-top: 0pt; padding-top: 0pt; border-right: 0pt; border-left: 0pt; padding-left: 0pt; vertical-align: bottom; padding-bottom: 0pt; border-bottom: 0pt; padding-right: 0pt; ">
                                <P style="margin-left: 0pt; font-size: 1pt; line-height: 1pt; margin-top: 0pt; margin-bottom: 0; margin-right: 0pt; ">&#8203;</P>
                            </TD>
                            <TD style="border-top: 0pt; padding-top: 1pt; border-right: 0pt; border-left: 0pt; padding-left: 0pt; vertical-align: bottom; padding-bottom: 1pt; border-bottom: 0pt; padding-right: 0pt; ">
                                <P style="margin-left: 11.25pt; color: #000000; text-indent: -11.25pt; font-size: 9pt; font-family: Arial, sans-serif; line-height: normal; margin-top: 0; margin-bottom: 0; text-align: left; margin-right: 0pt; "><FONT>Global Atlantic Fin Company:</FONT></P>
                            </TD>
                            <TD style="border-top: 0pt; padding-top: 0pt; border-right: 0pt; border-left: 0pt; padding-left: 0pt; vertical-align: bottom; padding-bottom: 0pt; border-bottom: 0pt; padding-right: 0pt; ">
                                <P style="margin-left: 0pt; font-size: 1pt; line-height: 1pt; margin-top: 0pt; margin-bottom: 0; margin-right: 0pt; ">&#8203;</P>
                            </TD>
                            <TD style="border-top: 0pt; padding-top: 0pt; border-right: 0pt; border-left: 0pt; padding-left: 0pt; vertical-align: bottom; padding-bottom: 0pt; border-bottom: 0pt; padding-right: 0pt; ">
                                <P style="margin-left: 0pt; font-size: 1pt; line-height: 1pt; margin-top: 0pt; margin-bottom: 0; margin-right: 0pt; ">&#8203;</P>
                            </TD>
                        </TR>
                        <TR style="min-height: 3pt; ">
                            <TD style="background-color: #cceeff; border-top: 0pt; padding-top: 1pt; border-right: 0pt; border-left: 0pt; padding-left: 0pt; vertical-align: top; padding-bottom: 1pt; border-bottom: 0pt; padding-right: 0pt; ">
                                <P style="margin-left: 0pt; color: #000000; font-size: 9pt; font-family: Arial, sans-serif; line-height: normal; margin-top: 0; margin-bottom: 0; text-align: right; margin-right: 0pt; "><FONT style="float: left; "><FONT>$</FONT></FONT><FONT style="float: right; "><FONT>1,180,000</FONT></FONT><FONT style="font-size: 9pt; ">&#8203;</FONT>                                    <BR clear="all"></P>
                            </TD>
                            <TD style="background-color: #cceeff; border-top: 0pt; padding-top: 0pt; border-right: 0pt; border-left: 0pt; padding-left: 0pt; vertical-align: bottom; padding-bottom: 0pt; border-bottom: 0pt; padding-right: 0pt; ">
                                <P style="margin-left: 0pt; font-size: 1pt; line-height: 1pt; margin-top: 0pt; margin-bottom: 0; margin-right: 0pt; ">&#8203;</P>
                            </TD>
                            <TD style="background-color: #cceeff; border-top: 0pt; padding-top: 1pt; border-right: 0pt; border-left: 0pt; padding-left: 0pt; vertical-align: bottom; padding-bottom: 1pt; border-bottom: 0pt; padding-right: 0pt; ">
                                <P style="margin-left: 22.5pt; color: #000000; text-indent: -11.25pt; font-size: 9pt; font-family: Arial, sans-serif; line-height: normal; margin-top: 0; margin-bottom: 0; text-align: left; margin-right: 0pt; "><FONT>4.70% to 10/15/26 then T5Y + 3.796%, 10/15/51, 144A**** </FONT></P>
                            </TD>
                            <TD style="background-color: #cceeff; border-top: 0pt; padding-top: 1pt; border-right: 0pt; border-left: 0pt; padding-left: 0pt; vertical-align: bottom; padding-bottom: 1pt; border-bottom: 0pt; padding-right: 0pt; ">
                                <P style="margin-left: 0pt; color: #000000; font-size: 9pt; font-family: Arial, sans-serif; line-height: normal; margin-top: 0; margin-bottom: 0; text-align: right; margin-right: 0pt; "><A name="pfd-nportex_083125a1230"></A><FONT>&#160;1,161,283</FONT></P>
                            </TD>
                            <TD style="background-color: #cceeff; border-top: 0pt; padding-top: 1pt; border-right: 0pt; border-left: 0pt; padding-left: 0pt; vertical-align: bottom; padding-bottom: 1pt; border-bottom: 0pt; padding-right: 0pt; ">
                                <P style="margin-left: 0pt; color: #000000; text-indent: 0pt; font-size: 9pt; font-family: Arial, sans-serif; line-height: normal; margin-top: 0; margin-bottom: 0; text-align: left; margin-right: 0pt; "><SUP style="font-size: 7.0pt; line-height: 7.0pt; ">(2)(3)</SUP><FONT>&#160;</FONT></P>
                            </TD>
                        </TR>
                        <TR style="min-height: 3pt; ">
                            <TD style="border-top: 0pt; padding-top: 1pt; border-right: 0pt; border-left: 0pt; padding-left: 0pt; vertical-align: top; padding-bottom: 1pt; border-bottom: 0pt; padding-right: 0pt; ">
                                <P style="margin-left: 0pt; color: #000000; font-size: 9pt; font-family: Arial, sans-serif; line-height: normal; margin-top: 0; margin-bottom: 0; text-align: right; margin-right: 0pt; "><FONT style="float: left; "><FONT>$</FONT></FONT><FONT style="float: right; "><FONT>600,000</FONT></FONT><FONT style="font-size: 9pt; ">&#8203;</FONT>                                    <BR clear="all"></P>
                            </TD>
                            <TD style="border-top: 0pt; padding-top: 0pt; border-right: 0pt; border-left: 0pt; padding-left: 0pt; vertical-align: bottom; padding-bottom: 0pt; border-bottom: 0pt; padding-right: 0pt; ">
                                <P style="margin-left: 0pt; font-size: 1pt; line-height: 1pt; margin-top: 0pt; margin-bottom: 0; margin-right: 0pt; ">&#8203;</P>
                            </TD>
                            <TD style="border-top: 0pt; padding-top: 1pt; border-right: 0pt; border-left: 0pt; padding-left: 0pt; vertical-align: bottom; padding-bottom: 1pt; border-bottom: 0pt; padding-right: 0pt; ">
                                <P style="margin-left: 22.5pt; color: #000000; text-indent: -11.25pt; font-size: 9pt; font-family: Arial, sans-serif; line-height: normal; margin-top: 0; margin-bottom: 0; text-align: left; margin-right: 0pt; "><FONT>7.95% to 10/15/29 then T5Y + 3.608%, 10/15/54, 144A**** </FONT></P>
                            </TD>
                            <TD style="border-top: 0pt; padding-top: 1pt; border-right: 0pt; border-left: 0pt; padding-left: 0pt; vertical-align: bottom; padding-bottom: 1pt; border-bottom: 0pt; padding-right: 0pt; ">
                                <P style="margin-left: 0pt; color: #000000; font-size: 9pt; font-family: Arial, sans-serif; line-height: normal; margin-top: 0; margin-bottom: 0; text-align: right; margin-right: 0pt; "><A name="pfd-nportex_083125a1231"></A><FONT>&#160;632,878</FONT></P>
                            </TD>
                            <TD style="border-top: 0pt; padding-top: 0pt; border-right: 0pt; border-left: 0pt; padding-left: 0pt; vertical-align: bottom; padding-bottom: 0pt; border-bottom: 0pt; padding-right: 0pt; ">
                                <P style="margin-left: 0pt; font-size: 1pt; line-height: 1pt; margin-top: 0pt; margin-bottom: 0; margin-right: 0pt; ">&#8203;</P>
                            </TD>
                        </TR>
                        <TR style="min-height: 3pt; ">
                            <TD style="background-color: #cceeff; border-top: 0pt; padding-top: 1pt; border-right: 0pt; border-left: 0pt; padding-left: 0pt; vertical-align: top; padding-bottom: 1pt; border-bottom: 0pt; padding-right: 0pt; ">
                                <P style="margin-left: 0pt; color: #000000; font-size: 9pt; font-family: Arial, sans-serif; line-height: normal; margin-top: 0; margin-bottom: 0; text-align: right; margin-right: 0pt; "><FONT>12,700</FONT></P>
                            </TD>
                            <TD style="background-color: #cceeff; border-top: 0pt; padding-top: 0pt; border-right: 0pt; border-left: 0pt; padding-left: 0pt; vertical-align: bottom; padding-bottom: 0pt; border-bottom: 0pt; padding-right: 0pt; ">
                                <P style="margin-left: 0pt; font-size: 1pt; line-height: 1pt; margin-top: 0pt; margin-bottom: 0; margin-right: 0pt; ">&#8203;</P>
                            </TD>
                            <TD style="background-color: #cceeff; border-top: 0pt; padding-top: 1pt; border-right: 0pt; border-left: 0pt; padding-left: 0pt; vertical-align: bottom; padding-bottom: 1pt; border-bottom: 0pt; padding-right: 0pt; ">
                                <P style="margin-left: 11.25pt; color: #000000; text-indent: -11.25pt; font-size: 9pt; font-family: Arial, sans-serif; line-height: normal; margin-top: 0; margin-bottom: 0; text-align: left; margin-right: 0pt; "><FONT>Jackson Financial, Inc., 8.00% to 03/30/28 then T5Y + 3.728%, Series A </FONT></P>
                            </TD>
                            <TD style="background-color: #cceeff; border-top: 0pt; padding-top: 1pt; border-right: 0pt; border-left: 0pt; padding-left: 0pt; vertical-align: bottom; padding-bottom: 1pt; border-bottom: 0pt; padding-right: 0pt; ">
                                <P style="margin-left: 0pt; color: #000000; font-size: 9pt; font-family: Arial, sans-serif; line-height: normal; margin-top: 0; margin-bottom: 0; text-align: right; margin-right: 0pt; "><A name="pfd-nportex_083125a1232"></A><FONT>&#160;331,470</FONT></P>
                            </TD>
                            <TD style="background-color: #cceeff; border-top: 0pt; padding-top: 1pt; border-right: 0pt; border-left: 0pt; padding-left: 0pt; vertical-align: bottom; padding-bottom: 1pt; border-bottom: 0pt; padding-right: 0pt; ">
                                <P style="margin-left: 0pt; color: #000000; text-indent: 0pt; font-size: 9pt; font-family: Arial, sans-serif; line-height: normal; margin-top: 0; margin-bottom: 0; text-align: left; margin-right: 0pt; "><FONT>*</FONT><SUP style="font-size: 7.0pt; line-height: 7.0pt; ">(1)</SUP><FONT>&#160;</FONT></P>
                            </TD>
                        </TR>
                        <TR style="min-height: 3pt; ">
                            <TD style="border-top: 0pt; padding-top: 1pt; border-right: 0pt; border-left: 0pt; padding-left: 0pt; vertical-align: top; padding-bottom: 1pt; border-bottom: 0pt; padding-right: 0pt; ">
                                <P style="margin-left: 0pt; color: #000000; font-size: 9pt; font-family: Arial, sans-serif; line-height: normal; margin-top: 0; margin-bottom: 0; text-align: right; margin-right: 0pt; "><FONT style="float: left; "><FONT>$</FONT></FONT><FONT style="float: right; "><FONT>750,000</FONT></FONT><FONT style="font-size: 9pt; ">&#8203;</FONT>                                    <BR clear="all"></P>
                            </TD>
                            <TD style="border-top: 0pt; padding-top: 0pt; border-right: 0pt; border-left: 0pt; padding-left: 0pt; vertical-align: bottom; padding-bottom: 0pt; border-bottom: 0pt; padding-right: 0pt; ">
                                <P style="margin-left: 0pt; font-size: 1pt; line-height: 1pt; margin-top: 0pt; margin-bottom: 0; margin-right: 0pt; ">&#8203;</P>
                            </TD>
                            <TD style="border-top: 0pt; padding-top: 1pt; border-right: 0pt; border-left: 0pt; padding-left: 0pt; vertical-align: bottom; padding-bottom: 1pt; border-bottom: 0pt; padding-right: 0pt; ">
                                <P style="margin-left: 11.25pt; color: #000000; text-indent: -11.25pt; font-size: 9pt; font-family: Arial, sans-serif; line-height: normal; margin-top: 0; margin-bottom: 0; text-align: left; margin-right: 0pt; "><FONT>Kuvare US Holdings, Inc., 7.00% to 05/01/26 then <br>T5Y + 6.541%, 02/17/51, Series A, 144A**** </FONT></P>
                            </TD>
                            <TD style="border-top: 0pt; padding-top: 1pt; border-right: 0pt; border-left: 0pt; padding-left: 0pt; vertical-align: bottom; padding-bottom: 1pt; border-bottom: 0pt; padding-right: 0pt; ">
                                <P style="margin-left: 0pt; color: #000000; font-size: 9pt; font-family: Arial, sans-serif; line-height: normal; margin-top: 0; margin-bottom: 0; text-align: right; margin-right: 0pt; "><A name="pfd-nportex_083125a1233"></A><FONT>&#160;749,234</FONT></P>
                            </TD>
                            <TD style="border-top: 0pt; padding-top: 1pt; border-right: 0pt; border-left: 0pt; padding-left: 0pt; vertical-align: bottom; padding-bottom: 1pt; border-bottom: 0pt; padding-right: 0pt; ">
                                <P style="margin-left: 0pt; color: #000000; text-indent: 0pt; font-size: 9pt; font-family: Arial, sans-serif; line-height: normal; margin-top: 0; margin-bottom: 0; text-align: left; margin-right: 0pt; "><FONT>*</FONT></P>
                            </TD>
                        </TR>
                        <TR style="min-height: 3pt; ">
                            <TD style="background-color: #cceeff; border-top: 0pt; padding-top: 1pt; border-right: 0pt; border-left: 0pt; padding-left: 0pt; vertical-align: top; padding-bottom: 1pt; border-bottom: 0pt; padding-right: 0pt; ">
                                <P style="margin-left: 0pt; color: #000000; font-size: 9pt; font-family: Arial, sans-serif; line-height: normal; margin-top: 0; margin-bottom: 0; text-align: right; margin-right: 0pt; "><FONT>&#160;</FONT></P>
                            </TD>
                            <TD style="background-color: #cceeff; border-top: 0pt; padding-top: 0pt; border-right: 0pt; border-left: 0pt; padding-left: 0pt; vertical-align: bottom; padding-bottom: 0pt; border-bottom: 0pt; padding-right: 0pt; ">
                                <P style="margin-left: 0pt; font-size: 1pt; line-height: 1pt; margin-top: 0pt; margin-bottom: 0; margin-right: 0pt; ">&#8203;</P>
                            </TD>
                            <TD style="background-color: #cceeff; border-top: 0pt; padding-top: 1pt; border-right: 0pt; border-left: 0pt; padding-left: 0pt; vertical-align: bottom; padding-bottom: 1pt; border-bottom: 0pt; padding-right: 0pt; ">
                                <P style="margin-left: 11.25pt; color: #000000; text-indent: -11.25pt; font-size: 9pt; font-family: Arial, sans-serif; line-height: normal; margin-top: 0; margin-bottom: 0; text-align: left; margin-right: 0pt; "><FONT>Liberty Mutual Group:</FONT></P>
                            </TD>
                            <TD style="background-color: #cceeff; border-top: 0pt; padding-top: 0pt; border-right: 0pt; border-left: 0pt; padding-left: 0pt; vertical-align: bottom; padding-bottom: 0pt; border-bottom: 0pt; padding-right: 0pt; ">
                                <P style="margin-left: 0pt; font-size: 1pt; line-height: 1pt; margin-top: 0pt; margin-bottom: 0; margin-right: 0pt; ">&#8203;</P>
                            </TD>
                            <TD style="background-color: #cceeff; border-top: 0pt; padding-top: 0pt; border-right: 0pt; border-left: 0pt; padding-left: 0pt; vertical-align: bottom; padding-bottom: 0pt; border-bottom: 0pt; padding-right: 0pt; ">
                                <P style="margin-left: 0pt; font-size: 1pt; line-height: 1pt; margin-top: 0pt; margin-bottom: 0; margin-right: 0pt; ">&#8203;</P>
                            </TD>
                        </TR>
                        <TR style="min-height: 3pt; ">
                            <TD style="border-top: 0pt; padding-top: 1pt; border-right: 0pt; border-left: 0pt; padding-left: 0pt; vertical-align: top; padding-bottom: 1pt; border-bottom: 0pt; padding-right: 0pt; ">
                                <P style="margin-left: 0pt; color: #000000; font-size: 9pt; font-family: Arial, sans-serif; line-height: normal; margin-top: 0; margin-bottom: 0; text-align: right; margin-right: 0pt; "><FONT style="float: left; "><FONT>$</FONT></FONT><FONT style="float: right; "><FONT>3,736,000</FONT></FONT><FONT style="font-size: 9pt; ">&#8203;</FONT>                                    <BR clear="all"></P>
                            </TD>
                            <TD style="border-top: 0pt; padding-top: 0pt; border-right: 0pt; border-left: 0pt; padding-left: 0pt; vertical-align: bottom; padding-bottom: 0pt; border-bottom: 0pt; padding-right: 0pt; ">
                                <P style="margin-left: 0pt; font-size: 1pt; line-height: 1pt; margin-top: 0pt; margin-bottom: 0; margin-right: 0pt; ">&#8203;</P>
                            </TD>
                            <TD style="border-top: 0pt; padding-top: 1pt; border-right: 0pt; border-left: 0pt; padding-left: 0pt; vertical-align: bottom; padding-bottom: 1pt; border-bottom: 0pt; padding-right: 0pt; ">
                                <P style="margin-left: 22.5pt; color: #000000; text-indent: -11.25pt; font-size: 9pt; font-family: Arial, sans-serif; line-height: normal; margin-top: 0; margin-bottom: 0; text-align: left; margin-right: 0pt; "><FONT>7.80% 03/15/37, 144A**** </FONT></P>
                            </TD>
                            <TD style="border-top: 0pt; padding-top: 1pt; border-right: 0pt; border-left: 0pt; padding-left: 0pt; vertical-align: bottom; padding-bottom: 1pt; border-bottom: 0pt; padding-right: 0pt; ">
                                <P style="margin-left: 0pt; color: #000000; font-size: 9pt; font-family: Arial, sans-serif; line-height: normal; margin-top: 0; margin-bottom: 0; text-align: right; margin-right: 0pt; "><A name="pfd-nportex_083125a1234"></A><FONT>&#160;4,289,928</FONT></P>
                            </TD>
                            <TD style="border-top: 0pt; padding-top: 1pt; border-right: 0pt; border-left: 0pt; padding-left: 0pt; vertical-align: bottom; padding-bottom: 1pt; border-bottom: 0pt; padding-right: 0pt; ">
                                <P style="margin-left: 0pt; color: #000000; text-indent: 0pt; font-size: 9pt; font-family: Arial, sans-serif; line-height: normal; margin-top: 0; margin-bottom: 0; text-align: left; margin-right: 0pt; "><SUP style="font-size: 7.0pt; line-height: 7.0pt; ">(2)(3)</SUP><FONT>&#160;</FONT></P>
                            </TD>
                        </TR>
                        <TR style="min-height: 3pt; ">
                            <TD style="background-color: #cceeff; border-top: 0pt; padding-top: 1pt; border-right: 0pt; border-left: 0pt; padding-left: 0pt; vertical-align: top; padding-bottom: 1pt; border-bottom: 0pt; padding-right: 0pt; ">
                                <P style="margin-left: 0pt; color: #000000; font-size: 9pt; font-family: Arial, sans-serif; line-height: normal; margin-top: 0; margin-bottom: 0; text-align: right; margin-right: 0pt; "><FONT style="float: left; "><FONT>$</FONT></FONT><FONT style="float: right; "><FONT>700,000</FONT></FONT><FONT style="font-size: 9pt; ">&#8203;</FONT>                                    <BR clear="all"></P>
                            </TD>
                            <TD style="background-color: #cceeff; border-top: 0pt; padding-top: 0pt; border-right: 0pt; border-left: 0pt; padding-left: 0pt; vertical-align: bottom; padding-bottom: 0pt; border-bottom: 0pt; padding-right: 0pt; ">
                                <P style="margin-left: 0pt; font-size: 1pt; line-height: 1pt; margin-top: 0pt; margin-bottom: 0; margin-right: 0pt; ">&#8203;</P>
                            </TD>
                            <TD style="background-color: #cceeff; border-top: 0pt; padding-top: 1pt; border-right: 0pt; border-left: 0pt; padding-left: 0pt; vertical-align: bottom; padding-bottom: 1pt; border-bottom: 0pt; padding-right: 0pt; ">
                                <P style="margin-left: 22.5pt; color: #000000; text-indent: -11.25pt; font-size: 9pt; font-family: Arial, sans-serif; line-height: normal; margin-top: 0; margin-bottom: 0; text-align: left; margin-right: 0pt; "><FONT>4.125% to 12/15/26 then T5Y + 3.315%, 12/15/51, 144A**** </FONT></P>
                            </TD>
                            <TD style="background-color: #cceeff; border-top: 0pt; padding-top: 1pt; border-right: 0pt; border-left: 0pt; padding-left: 0pt; vertical-align: bottom; padding-bottom: 1pt; border-bottom: 0pt; padding-right: 0pt; ">
                                <P style="margin-left: 0pt; color: #000000; font-size: 9pt; font-family: Arial, sans-serif; line-height: normal; margin-top: 0; margin-bottom: 0; text-align: right; margin-right: 0pt; "><A name="pfd-nportex_083125a1235"></A><FONT>&#160;686,853</FONT></P>
                            </TD>
                            <TD style="background-color: #cceeff; border-top: 0pt; padding-top: 1pt; border-right: 0pt; border-left: 0pt; padding-left: 0pt; vertical-align: bottom; padding-bottom: 1pt; border-bottom: 0pt; padding-right: 0pt; ">
                                <P style="margin-left: 0pt; color: #000000; text-indent: 0pt; font-size: 9pt; font-family: Arial, sans-serif; line-height: normal; margin-top: 0; margin-bottom: 0; text-align: left; margin-right: 0pt; "><SUP style="font-size: 7.0pt; line-height: 7.0pt; ">(2)&#160;</SUP><FONT>&#160;</FONT></P>
                            </TD>
                        </TR>
                    </TABLE>
                </DIV>
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        </DIV>
        <DIV style="page-break-before: always; ">
            <P style="font-size: 5pt; margin: 0pt; ">&#8203;</P>
        </DIV>
        <DIV style="margin: auto; overflow: hidden; width: 675.0pt; position: relative; border-bottom: 2pt solid black; height: 765.0pt; ">
            <DIV style="border: 0pt; padding-top: 0pt; top: 697.5pt; left: 33.75pt; padding-left: 0pt; width: 607.5pt; padding-bottom: 0pt; position: absolute; padding-right: 0pt; height: 33.75pt; ">
                <DIV style="vertical-align: bottom; width: 607.5pt; display: table-cell; height: 33.75pt; ">
                    <!-- [if IE]><TABLE><TR style=" width: 607.5pt; height: 33.75pt;"><TD vAlign="bottom" style=" width: 607.5pt; height: 33.75pt;"><![endif]-->
                    <P style="margin-left: 0pt; color: #000000; text-indent: 0pt; font-size: 12pt; font-family: Times New Roman, Times, serif; margin-top: 0pt; margin-bottom: 0pt; text-align: center; margin-right: 0pt; "><FONT style="font-size: 8pt; font-family: Arial, sans-serif; "> <br></FONT><FONT style="font-size: 10pt; font-family: Arial, sans-serif; ">5</FONT></P>
                    <!-- [if IE]></TD></TR></TABLE><![endif]-->
                </DIV>
            </DIV>
            <DIV style="border: 0pt; padding-top: 0pt; top: 33.75pt; left: 33.75pt; padding-left: 0pt; width: 607.5pt; padding-bottom: 0pt; position: absolute; padding-right: 0pt; height: 86.25pt; ">
                <P style="border-top: 1pt solid ; margin-left: 0pt; color: #000000; font-size: 12pt; font-family: Times New Roman, Times, serif; margin-top: 0pt; margin-bottom: 0pt; text-align: right; margin-right: 0pt; "><FONT style="font-size: 8pt; font-family: Arial, sans-serif; ">&#160;</FONT></P>
                <P style="margin-left: 0pt; color: #000000; font-size: 12pt; font-family: Times New Roman, Times, serif; margin-top: 0pt; margin-bottom: 0pt; text-align: right; margin-right: 0pt; "><FONT style="font-size: 8pt; font-family: Arial, sans-serif; ">Flaherty &amp; Crumrine Preferred and Income Fund Incorporated</FONT></P>
                <P style="margin-left: 0pt; color: #000000; font-size: 12pt; font-family: Times New Roman, Times, serif; margin-top: 0pt; margin-bottom: 0pt; text-align: right; margin-right: 0pt; "><FONT style="font-family: Arial, sans-serif; ">PORTFOLIO OF INVESTMENTS (Continued)</FONT></P>
                <P style="margin-left: 0pt; color: #000000; font-size: 12pt; font-family: Times New Roman, Times, serif; margin-top: 0pt; margin-bottom: 0pt; text-align: right; margin-right: 0pt; "><FONT style="font-size: 10pt; font-family: Arial, sans-serif; ">August 31, 2025&#160;(Unaudited)</FONT></P>
                <P style="margin-left: 0pt; color: #000000; font-size: 12pt; font-family: Times New Roman, Times, serif; margin-top: 0pt; margin-bottom: 0pt; border-bottom: 1pt solid ; text-align: right; margin-right: 0pt; "><FONT style="font-size: 8pt; font-family: Arial, sans-serif; ">&#160;</FONT></P>
            </DIV>
            <DIV style="border: 0pt; padding-top: 0pt; top: 120pt; left: 33.75pt; padding-left: 0pt; width: 607.5pt; padding-bottom: 0pt; position: absolute; padding-right: 0pt; height: 577.5pt; ">
                <DIV style="margin-left: 0pt; color: #000000; font-size: 9pt; font-family: Arial, sans-serif; line-height: 11pt; margin-top: 0pt; margin-bottom: 0pt; text-align: justify; margin-right: 0pt; ">
                    <TABLE style="width: 623.75pt; margin-top: 0pt; margin-bottom: 0pt; table-layout: fixed; border-collapse: collapse; ">
                        <TR style="margin: 0; height: 0; ">
                            <TD style="border: 0; width: 68.75pt; padding: 0; margin: 0; ">
                            </TD>
                            <TD style="border: 0; width: 15.0pt; padding: 0; margin: 0; ">
                            </TD>
                            <TD style="border: 0; width: 412.5pt; padding: 0; margin: 0; ">
                            </TD>
                            <TD style="border: 0; width: 82.5pt; padding: 0; margin: 0; ">
                            </TD>
                            <TD style="border: 0; width: 45.0pt; padding: 0; margin: 0; ">
                            </TD>
                        </TR>
                        <TR style="min-height: 3pt; ">
                            <TD style="border-top: 0pt; padding-top: 1pt; border-right: 0pt; border-left: 0pt; padding-left: 0pt; vertical-align: bottom; padding-bottom: 1pt; border-bottom: 0.5pt solid #000000; padding-right: 0pt; ">
                                <P style="margin-left: 0pt; color: #000000; text-indent: 0pt; font-size: 8pt; font-family: Arial, sans-serif; line-height: normal; margin-top: 0; margin-bottom: 0; text-align: center; margin-right: 0pt; "><FONT style="font-weight: bold; "><B>Shares/$ Par</B></FONT></P>
                            </TD>
                            <TD style="border-top: 0pt; padding-top: 0pt; border-right: 0pt; border-left: 0pt; padding-left: 0pt; vertical-align: top; padding-bottom: 0pt; border-bottom: 0.5pt solid #000000; padding-right: 0pt; ">
                                <P style="margin-left: 0pt; font-size: 1pt; line-height: 1pt; margin-top: 0pt; margin-bottom: 0; margin-right: 0pt; ">&#8203;</P>
                            </TD>
                            <TD style="border-top: 0pt; padding-top: 0pt; border-right: 0pt; border-left: 0pt; padding-left: 0pt; vertical-align: bottom; padding-bottom: 0pt; border-bottom: 0.5pt solid #000000; padding-right: 0pt; ">
                                <P style="margin-left: 0pt; font-size: 1pt; line-height: 1pt; margin-top: 0pt; margin-bottom: 0; margin-right: 0pt; ">&#8203;</P>
                            </TD>
                            <TD style="border-top: 0pt; padding-top: 1pt; border-right: 0pt; border-left: 0pt; padding-left: 0pt; vertical-align: bottom; padding-bottom: 1pt; border-bottom: 0.5pt solid #000000; padding-right: 0pt; ">
                                <P style="margin-left: 0pt; color: #000000; text-indent: 0pt; font-size: 8pt; font-family: Arial, sans-serif; line-height: normal; margin-top: 0; margin-bottom: 0; text-align: center; margin-right: 0pt; "><FONT style="font-weight: bold; "><B>Value</B></FONT></P>
                            </TD>
                            <TD style="border-top: 0pt; padding-top: 0pt; border-right: 0pt; border-left: 0pt; padding-left: 0pt; vertical-align: bottom; padding-bottom: 0pt; border-bottom: 0pt; padding-right: 0pt; ">
                                <P style="margin-left: 0pt; font-size: 1pt; line-height: 1pt; margin-top: 0pt; margin-bottom: 0; margin-right: 0pt; ">&#8203;</P>
                            </TD>
                        </TR>
                        <TR style="min-height: 3pt; ">
                            <TD style="border-top: 0pt; padding-top: 1pt; border-right: 0pt; border-left: 0pt; padding-left: 0pt; vertical-align: top; padding-bottom: 1pt; border-bottom: 0pt; padding-right: 0pt; ">
                                <P style="margin-left: 0pt; color: #000000; font-size: 9pt; font-family: Arial, sans-serif; line-height: normal; margin-top: 0; margin-bottom: 0; text-align: right; margin-right: 0pt; "><FONT>&#160;</FONT></P>
                            </TD>
                            <TD style="border-top: 0pt; padding-top: 0pt; border-right: 0pt; border-left: 0pt; padding-left: 0pt; vertical-align: bottom; padding-bottom: 0pt; border-bottom: 0pt; padding-right: 0pt; ">
                                <P style="margin-left: 0pt; font-size: 1pt; line-height: 1pt; margin-top: 0pt; margin-bottom: 0; margin-right: 0pt; ">&#8203;</P>
                            </TD>
                            <TD style="border-top: 0pt; padding-top: 1pt; border-right: 0pt; border-left: 0pt; padding-left: 0pt; vertical-align: bottom; padding-bottom: 1pt; border-bottom: 0pt; padding-right: 0pt; ">
                                <P style="margin-left: 11.25pt; color: #000000; text-indent: -11.25pt; font-size: 9pt; font-family: Arial, sans-serif; line-height: normal; margin-top: 0; margin-bottom: 0; text-align: left; margin-right: 0pt; "><FONT>Lincoln National Corporation:</FONT></P>
                            </TD>
                            <TD style="border-top: 0pt; padding-top: 0pt; border-right: 0pt; border-left: 0pt; padding-left: 0pt; vertical-align: bottom; padding-bottom: 0pt; border-bottom: 0pt; padding-right: 0pt; ">
                                <P style="margin-left: 0pt; font-size: 1pt; line-height: 1pt; margin-top: 0pt; margin-bottom: 0; margin-right: 0pt; ">&#8203;</P>
                            </TD>
                            <TD style="border-top: 0pt; padding-top: 0pt; border-right: 0pt; border-left: 0pt; padding-left: 0pt; vertical-align: bottom; padding-bottom: 0pt; border-bottom: 0pt; padding-right: 0pt; ">
                                <P style="margin-left: 0pt; font-size: 1pt; line-height: 1pt; margin-top: 0pt; margin-bottom: 0; margin-right: 0pt; ">&#8203;</P>
                            </TD>
                        </TR>
                        <TR style="min-height: 3pt; ">
                            <TD style="background-color: #cceeff; border-top: 0pt; padding-top: 1pt; border-right: 0pt; border-left: 0pt; padding-left: 0pt; vertical-align: top; padding-bottom: 1pt; border-bottom: 0pt; padding-right: 0pt; ">
                                <P style="margin-left: 0pt; color: #000000; font-size: 9pt; font-family: Arial, sans-serif; line-height: normal; margin-top: 0; margin-bottom: 0; text-align: right; margin-right: 0pt; "><FONT>16,900</FONT></P>
                            </TD>
                            <TD style="background-color: #cceeff; border-top: 0pt; padding-top: 0pt; border-right: 0pt; border-left: 0pt; padding-left: 0pt; vertical-align: bottom; padding-bottom: 0pt; border-bottom: 0pt; padding-right: 0pt; ">
                                <P style="margin-left: 0pt; font-size: 1pt; line-height: 1pt; margin-top: 0pt; margin-bottom: 0; margin-right: 0pt; ">&#8203;</P>
                            </TD>
                            <TD style="background-color: #cceeff; border-top: 0pt; padding-top: 1pt; border-right: 0pt; border-left: 0pt; padding-left: 0pt; vertical-align: bottom; padding-bottom: 1pt; border-bottom: 0pt; padding-right: 0pt; ">
                                <P style="margin-left: 22.5pt; color: #000000; text-indent: -11.25pt; font-size: 9pt; font-family: Arial, sans-serif; line-height: normal; margin-top: 0; margin-bottom: 0; text-align: left; margin-right: 0pt; "><FONT>9.00%, Series D </FONT></P>
                            </TD>
                            <TD style="background-color: #cceeff; border-top: 0pt; padding-top: 1pt; border-right: 0pt; border-left: 0pt; padding-left: 0pt; vertical-align: bottom; padding-bottom: 1pt; border-bottom: 0pt; padding-right: 0pt; ">
                                <P style="margin-left: 0pt; color: #000000; font-size: 9pt; font-family: Arial, sans-serif; line-height: normal; margin-top: 0; margin-bottom: 0; text-align: right; margin-right: 0pt; "><FONT style="float: left; "><A name="pfd-nportex_083125a1236"></A><FONT>&#160;$</FONT></FONT><FONT style="float: right; "><FONT>453,765</FONT></FONT><FONT style="font-size: 9pt; ">&#8203;</FONT>                                    <BR clear="all"></P>
                            </TD>
                            <TD style="background-color: #cceeff; border-top: 0pt; padding-top: 1pt; border-right: 0pt; border-left: 0pt; padding-left: 0pt; vertical-align: bottom; padding-bottom: 1pt; border-bottom: 0pt; padding-right: 0pt; ">
                                <P style="margin-left: 0pt; color: #000000; text-indent: 0pt; font-size: 9pt; font-family: Arial, sans-serif; line-height: normal; margin-top: 0; margin-bottom: 0; text-align: left; margin-right: 0pt; "><FONT>*</FONT><SUP style="font-size: 7.0pt; line-height: 7.0pt; ">(1)(2)</SUP><FONT>&#160;</FONT></P>
                            </TD>
                        </TR>
                        <TR style="min-height: 3pt; ">
                            <TD style="border-top: 0pt; padding-top: 1pt; border-right: 0pt; border-left: 0pt; padding-left: 0pt; vertical-align: top; padding-bottom: 1pt; border-bottom: 0pt; padding-right: 0pt; ">
                                <P style="margin-left: 0pt; color: #000000; font-size: 9pt; font-family: Arial, sans-serif; line-height: normal; margin-top: 0; margin-bottom: 0; text-align: right; margin-right: 0pt; "><FONT style="float: left; "><FONT>$</FONT></FONT><FONT style="float: right; "><FONT>420,000</FONT></FONT><FONT style="font-size: 9pt; ">&#8203;</FONT>                                    <BR clear="all"></P>
                            </TD>
                            <TD style="border-top: 0pt; padding-top: 0pt; border-right: 0pt; border-left: 0pt; padding-left: 0pt; vertical-align: bottom; padding-bottom: 0pt; border-bottom: 0pt; padding-right: 0pt; ">
                                <P style="margin-left: 0pt; font-size: 1pt; line-height: 1pt; margin-top: 0pt; margin-bottom: 0; margin-right: 0pt; ">&#8203;</P>
                            </TD>
                            <TD style="border-top: 0pt; padding-top: 1pt; border-right: 0pt; border-left: 0pt; padding-left: 0pt; vertical-align: bottom; padding-bottom: 1pt; border-bottom: 0pt; padding-right: 0pt; ">
                                <P style="margin-left: 22.5pt; color: #000000; text-indent: -11.25pt; font-size: 9pt; font-family: Arial, sans-serif; line-height: normal; margin-top: 0; margin-bottom: 0; text-align: left; margin-right: 0pt; "><FONT>9.25% to 03/01/28 then T5Y + 5.318%, Series C </FONT></P>
                            </TD>
                            <TD style="border-top: 0pt; padding-top: 1pt; border-right: 0pt; border-left: 0pt; padding-left: 0pt; vertical-align: bottom; padding-bottom: 1pt; border-bottom: 0pt; padding-right: 0pt; ">
                                <P style="margin-left: 0pt; color: #000000; font-size: 9pt; font-family: Arial, sans-serif; line-height: normal; margin-top: 0; margin-bottom: 0; text-align: right; margin-right: 0pt; "><A name="pfd-nportex_083125a1237"></A><FONT>&#160;456,016</FONT></P>
                            </TD>
                            <TD style="border-top: 0pt; padding-top: 1pt; border-right: 0pt; border-left: 0pt; padding-left: 0pt; vertical-align: bottom; padding-bottom: 1pt; border-bottom: 0pt; padding-right: 0pt; ">
                                <P style="margin-left: 0pt; color: #000000; text-indent: 0pt; font-size: 9pt; font-family: Arial, sans-serif; line-height: normal; margin-top: 0; margin-bottom: 0; text-align: left; margin-right: 0pt; "><FONT>*</FONT><SUP style="font-size: 7.0pt; line-height: 7.0pt; ">(1)(2)(3)</SUP><FONT>&#160;</FONT></P>
                            </TD>
                        </TR>
                        <TR style="min-height: 3pt; ">
                            <TD style="background-color: #cceeff; border-top: 0pt; padding-top: 1pt; border-right: 0pt; border-left: 0pt; padding-left: 0pt; vertical-align: top; padding-bottom: 1pt; border-bottom: 0pt; padding-right: 0pt; ">
                                <P style="margin-left: 0pt; color: #000000; font-size: 9pt; font-family: Arial, sans-serif; line-height: normal; margin-top: 0; margin-bottom: 0; text-align: right; margin-right: 0pt; "><FONT>&#160;</FONT></P>
                            </TD>
                            <TD style="background-color: #cceeff; border-top: 0pt; padding-top: 0pt; border-right: 0pt; border-left: 0pt; padding-left: 0pt; vertical-align: bottom; padding-bottom: 0pt; border-bottom: 0pt; padding-right: 0pt; ">
                                <P style="margin-left: 0pt; font-size: 1pt; line-height: 1pt; margin-top: 0pt; margin-bottom: 0; margin-right: 0pt; ">&#8203;</P>
                            </TD>
                            <TD style="background-color: #cceeff; border-top: 0pt; padding-top: 1pt; border-right: 0pt; border-left: 0pt; padding-left: 0pt; vertical-align: bottom; padding-bottom: 1pt; border-bottom: 0pt; padding-right: 0pt; ">
                                <P style="margin-left: 11.25pt; color: #000000; text-indent: -11.25pt; font-size: 9pt; font-family: Arial, sans-serif; line-height: normal; margin-top: 0; margin-bottom: 0; text-align: left; margin-right: 0pt; "><FONT>MetLife, Inc.:</FONT></P>
                            </TD>
                            <TD style="background-color: #cceeff; border-top: 0pt; padding-top: 0pt; border-right: 0pt; border-left: 0pt; padding-left: 0pt; vertical-align: bottom; padding-bottom: 0pt; border-bottom: 0pt; padding-right: 0pt; ">
                                <P style="margin-left: 0pt; font-size: 1pt; line-height: 1pt; margin-top: 0pt; margin-bottom: 0; margin-right: 0pt; ">&#8203;</P>
                            </TD>
                            <TD style="background-color: #cceeff; border-top: 0pt; padding-top: 0pt; border-right: 0pt; border-left: 0pt; padding-left: 0pt; vertical-align: bottom; padding-bottom: 0pt; border-bottom: 0pt; padding-right: 0pt; ">
                                <P style="margin-left: 0pt; font-size: 1pt; line-height: 1pt; margin-top: 0pt; margin-bottom: 0; margin-right: 0pt; ">&#8203;</P>
                            </TD>
                        </TR>
                        <TR style="min-height: 3pt; ">
                            <TD style="border-top: 0pt; padding-top: 1pt; border-right: 0pt; border-left: 0pt; padding-left: 0pt; vertical-align: top; padding-bottom: 1pt; border-bottom: 0pt; padding-right: 0pt; ">
                                <P style="margin-left: 0pt; color: #000000; font-size: 9pt; font-family: Arial, sans-serif; line-height: normal; margin-top: 0; margin-bottom: 0; text-align: right; margin-right: 0pt; "><FONT style="float: left; "><FONT>$</FONT></FONT><FONT style="float: right; "><FONT>3,600,000</FONT></FONT><FONT style="font-size: 9pt; ">&#8203;</FONT>                                    <BR clear="all"></P>
                            </TD>
                            <TD style="border-top: 0pt; padding-top: 0pt; border-right: 0pt; border-left: 0pt; padding-left: 0pt; vertical-align: bottom; padding-bottom: 0pt; border-bottom: 0pt; padding-right: 0pt; ">
                                <P style="margin-left: 0pt; font-size: 1pt; line-height: 1pt; margin-top: 0pt; margin-bottom: 0; margin-right: 0pt; ">&#8203;</P>
                            </TD>
                            <TD style="border-top: 0pt; padding-top: 1pt; border-right: 0pt; border-left: 0pt; padding-left: 0pt; vertical-align: bottom; padding-bottom: 1pt; border-bottom: 0pt; padding-right: 0pt; ">
                                <P style="margin-left: 22.5pt; color: #000000; text-indent: -11.25pt; font-size: 9pt; font-family: Arial, sans-serif; line-height: normal; margin-top: 0; margin-bottom: 0; text-align: left; margin-right: 0pt; "><FONT>9.25% 04/08/38, 144A**** </FONT></P>
                            </TD>
                            <TD style="border-top: 0pt; padding-top: 1pt; border-right: 0pt; border-left: 0pt; padding-left: 0pt; vertical-align: bottom; padding-bottom: 1pt; border-bottom: 0pt; padding-right: 0pt; ">
                                <P style="margin-left: 0pt; color: #000000; font-size: 9pt; font-family: Arial, sans-serif; line-height: normal; margin-top: 0; margin-bottom: 0; text-align: right; margin-right: 0pt; "><A name="pfd-nportex_083125a1238"></A><FONT>&#160;4,283,140</FONT></P>
                            </TD>
                            <TD style="border-top: 0pt; padding-top: 1pt; border-right: 0pt; border-left: 0pt; padding-left: 0pt; vertical-align: bottom; padding-bottom: 1pt; border-bottom: 0pt; padding-right: 0pt; ">
                                <P style="margin-left: 0pt; color: #000000; text-indent: 0pt; font-size: 9pt; font-family: Arial, sans-serif; line-height: normal; margin-top: 0; margin-bottom: 0; text-align: left; margin-right: 0pt; "><SUP style="font-size: 7.0pt; line-height: 7.0pt; ">(2)(3)</SUP><FONT>&#160;</FONT></P>
                            </TD>
                        </TR>
                        <TR style="min-height: 3pt; ">
                            <TD style="background-color: #cceeff; border-top: 0pt; padding-top: 1pt; border-right: 0pt; border-left: 0pt; padding-left: 0pt; vertical-align: top; padding-bottom: 1pt; border-bottom: 0pt; padding-right: 0pt; ">
                                <P style="margin-left: 0pt; color: #000000; font-size: 9pt; font-family: Arial, sans-serif; line-height: normal; margin-top: 0; margin-bottom: 0; text-align: right; margin-right: 0pt; "><FONT style="float: left; "><FONT>$</FONT></FONT><FONT style="float: right; "><FONT>2,703,000</FONT></FONT><FONT style="font-size: 9pt; ">&#8203;</FONT>                                    <BR clear="all"></P>
                            </TD>
                            <TD style="background-color: #cceeff; border-top: 0pt; padding-top: 0pt; border-right: 0pt; border-left: 0pt; padding-left: 0pt; vertical-align: bottom; padding-bottom: 0pt; border-bottom: 0pt; padding-right: 0pt; ">
                                <P style="margin-left: 0pt; font-size: 1pt; line-height: 1pt; margin-top: 0pt; margin-bottom: 0; margin-right: 0pt; ">&#8203;</P>
                            </TD>
                            <TD style="background-color: #cceeff; border-top: 0pt; padding-top: 1pt; border-right: 0pt; border-left: 0pt; padding-left: 0pt; vertical-align: bottom; padding-bottom: 1pt; border-bottom: 0pt; padding-right: 0pt; ">
                                <P style="margin-left: 22.5pt; color: #000000; text-indent: -11.25pt; font-size: 9pt; font-family: Arial, sans-serif; line-height: normal; margin-top: 0; margin-bottom: 0; text-align: left; margin-right: 0pt; "><FONT>10.75% 08/01/39 </FONT></P>
                            </TD>
                            <TD style="background-color: #cceeff; border-top: 0pt; padding-top: 1pt; border-right: 0pt; border-left: 0pt; padding-left: 0pt; vertical-align: bottom; padding-bottom: 1pt; border-bottom: 0pt; padding-right: 0pt; ">
                                <P style="margin-left: 0pt; color: #000000; font-size: 9pt; font-family: Arial, sans-serif; line-height: normal; margin-top: 0; margin-bottom: 0; text-align: right; margin-right: 0pt; "><A name="pfd-nportex_083125a1239"></A><FONT>&#160;3,617,452</FONT></P>
                            </TD>
                            <TD style="background-color: #cceeff; border-top: 0pt; padding-top: 1pt; border-right: 0pt; border-left: 0pt; padding-left: 0pt; vertical-align: bottom; padding-bottom: 1pt; border-bottom: 0pt; padding-right: 0pt; ">
                                <P style="margin-left: 0pt; color: #000000; text-indent: 0pt; font-size: 9pt; font-family: Arial, sans-serif; line-height: normal; margin-top: 0; margin-bottom: 0; text-align: left; margin-right: 0pt; "><SUP style="font-size: 7.0pt; line-height: 7.0pt; ">(2)(3)</SUP><FONT>&#160;</FONT></P>
                            </TD>
                        </TR>
                        <TR style="min-height: 3pt; ">
                            <TD style="border-top: 0pt; padding-top: 1pt; border-right: 0pt; border-left: 0pt; padding-left: 0pt; vertical-align: top; padding-bottom: 1pt; border-bottom: 0pt; padding-right: 0pt; ">
                                <P style="margin-left: 0pt; color: #000000; font-size: 9pt; font-family: Arial, sans-serif; line-height: normal; margin-top: 0; margin-bottom: 0; text-align: right; margin-right: 0pt; "><FONT>38,400</FONT></P>
                            </TD>
                            <TD style="border-top: 0pt; padding-top: 0pt; border-right: 0pt; border-left: 0pt; padding-left: 0pt; vertical-align: bottom; padding-bottom: 0pt; border-bottom: 0pt; padding-right: 0pt; ">
                                <P style="margin-left: 0pt; font-size: 1pt; line-height: 1pt; margin-top: 0pt; margin-bottom: 0; margin-right: 0pt; ">&#8203;</P>
                            </TD>
                            <TD style="border-top: 0pt; padding-top: 1pt; border-right: 0pt; border-left: 0pt; padding-left: 0pt; vertical-align: bottom; padding-bottom: 1pt; border-bottom: 0pt; padding-right: 0pt; ">
                                <P style="margin-left: 11.25pt; color: #000000; text-indent: -11.25pt; font-size: 9pt; font-family: Arial, sans-serif; line-height: normal; margin-top: 0; margin-bottom: 0; text-align: left; margin-right: 0pt; "><FONT>PartnerRe Ltd., 4.875%, Series J </FONT></P>
                            </TD>
                            <TD style="border-top: 0pt; padding-top: 1pt; border-right: 0pt; border-left: 0pt; padding-left: 0pt; vertical-align: bottom; padding-bottom: 1pt; border-bottom: 0pt; padding-right: 0pt; ">
                                <P style="margin-left: 0pt; color: #000000; font-size: 9pt; font-family: Arial, sans-serif; line-height: normal; margin-top: 0; margin-bottom: 0; text-align: right; margin-right: 0pt; "><A name="pfd-nportex_083125a1240"></A><FONT>&#160;652,800</FONT></P>
                            </TD>
                            <TD style="border-top: 0pt; padding-top: 1pt; border-right: 0pt; border-left: 0pt; padding-left: 0pt; vertical-align: bottom; padding-bottom: 1pt; border-bottom: 0pt; padding-right: 0pt; ">
                                <P style="margin-left: 0pt; color: #000000; text-indent: 0pt; font-size: 9pt; font-family: Arial, sans-serif; line-height: normal; margin-top: 0; margin-bottom: 0; text-align: left; margin-right: 0pt; "><FONT>**</FONT><SUP style="font-size: 7.0pt; line-height: 7.0pt; ">(1)(5)</SUP><FONT>&#160;</FONT></P>
                            </TD>
                        </TR>
                        <TR style="min-height: 3pt; ">
                            <TD style="background-color: #cceeff; border-top: 0pt; padding-top: 1pt; border-right: 0pt; border-left: 0pt; padding-left: 0pt; vertical-align: top; padding-bottom: 1pt; border-bottom: 0pt; padding-right: 0pt; ">
                                <P style="margin-left: 0pt; color: #000000; font-size: 9pt; font-family: Arial, sans-serif; line-height: normal; margin-top: 0; margin-bottom: 0; text-align: right; margin-right: 0pt; "><FONT style="float: left; "><FONT>$</FONT></FONT><FONT style="float: right; "><FONT>321,000</FONT></FONT><FONT style="font-size: 9pt; ">&#8203;</FONT>                                    <BR clear="all"></P>
                            </TD>
                            <TD style="background-color: #cceeff; border-top: 0pt; padding-top: 0pt; border-right: 0pt; border-left: 0pt; padding-left: 0pt; vertical-align: bottom; padding-bottom: 0pt; border-bottom: 0pt; padding-right: 0pt; ">
                                <P style="margin-left: 0pt; font-size: 1pt; line-height: 1pt; margin-top: 0pt; margin-bottom: 0; margin-right: 0pt; ">&#8203;</P>
                            </TD>
                            <TD style="background-color: #cceeff; border-top: 0pt; padding-top: 1pt; border-right: 0pt; border-left: 0pt; padding-left: 0pt; vertical-align: bottom; padding-bottom: 1pt; border-bottom: 0pt; padding-right: 0pt; ">
                                <P style="margin-left: 11.25pt; color: #000000; text-indent: -11.25pt; font-size: 9pt; font-family: Arial, sans-serif; line-height: normal; margin-top: 0; margin-bottom: 0; text-align: left; margin-right: 0pt; "><FONT>Prudential Financial, Inc., 6.75% to 03/01/33 then T5Y + 2.848%, 03/01/53 </FONT></P>
                            </TD>
                            <TD style="background-color: #cceeff; border-top: 0pt; padding-top: 1pt; border-right: 0pt; border-left: 0pt; padding-left: 0pt; vertical-align: bottom; padding-bottom: 1pt; border-bottom: 0pt; padding-right: 0pt; ">
                                <P style="margin-left: 0pt; color: #000000; font-size: 9pt; font-family: Arial, sans-serif; line-height: normal; margin-top: 0; margin-bottom: 0; text-align: right; margin-right: 0pt; "><A name="pfd-nportex_083125a1241"></A><FONT>&#160;339,592</FONT></P>
                            </TD>
                            <TD style="background-color: #cceeff; border-top: 0pt; padding-top: 1pt; border-right: 0pt; border-left: 0pt; padding-left: 0pt; vertical-align: bottom; padding-bottom: 1pt; border-bottom: 0pt; padding-right: 0pt; ">
                                <P style="margin-left: 0pt; color: #000000; text-indent: 0pt; font-size: 9pt; font-family: Arial, sans-serif; line-height: normal; margin-top: 0; margin-bottom: 0; text-align: left; margin-right: 0pt; "><SUP style="font-size: 7.0pt; line-height: 7.0pt; ">(2)(3)</SUP><FONT>&#160;</FONT></P>
                            </TD>
                        </TR>
                        <TR style="min-height: 3pt; ">
                            <TD style="border-top: 0pt; padding-top: 1pt; border-right: 0pt; border-left: 0pt; padding-left: 0pt; vertical-align: top; padding-bottom: 1pt; border-bottom: 0pt; padding-right: 0pt; ">
                                <P style="margin-left: 0pt; color: #000000; font-size: 9pt; font-family: Arial, sans-serif; line-height: normal; margin-top: 0; margin-bottom: 0; text-align: right; margin-right: 0pt; "><FONT>&#160;</FONT></P>
                            </TD>
                            <TD style="border-top: 0pt; padding-top: 0pt; border-right: 0pt; border-left: 0pt; padding-left: 0pt; vertical-align: bottom; padding-bottom: 0pt; border-bottom: 0pt; padding-right: 0pt; ">
                                <P style="margin-left: 0pt; font-size: 1pt; line-height: 1pt; margin-top: 0pt; margin-bottom: 0; margin-right: 0pt; ">&#8203;</P>
                            </TD>
                            <TD style="border-top: 0pt; padding-top: 1pt; border-right: 0pt; border-left: 0pt; padding-left: 0pt; vertical-align: bottom; padding-bottom: 1pt; border-bottom: 0pt; padding-right: 0pt; ">
                                <P style="margin-left: 11.25pt; color: #000000; text-indent: -11.25pt; font-size: 9pt; font-family: Arial, sans-serif; line-height: normal; margin-top: 0; margin-bottom: 0; text-align: left; margin-right: 0pt; "><FONT>Reinsurance Group of America, Inc.:</FONT></P>
                            </TD>
                            <TD style="border-top: 0pt; padding-top: 0pt; border-right: 0pt; border-left: 0pt; padding-left: 0pt; vertical-align: bottom; padding-bottom: 0pt; border-bottom: 0pt; padding-right: 0pt; ">
                                <P style="margin-left: 0pt; font-size: 1pt; line-height: 1pt; margin-top: 0pt; margin-bottom: 0; margin-right: 0pt; ">&#8203;</P>
                            </TD>
                            <TD style="border-top: 0pt; padding-top: 0pt; border-right: 0pt; border-left: 0pt; padding-left: 0pt; vertical-align: bottom; padding-bottom: 0pt; border-bottom: 0pt; padding-right: 0pt; ">
                                <P style="margin-left: 0pt; font-size: 1pt; line-height: 1pt; margin-top: 0pt; margin-bottom: 0; margin-right: 0pt; ">&#8203;</P>
                            </TD>
                        </TR>
                        <TR style="min-height: 3pt; ">
                            <TD style="background-color: #cceeff; border-top: 0pt; padding-top: 1pt; border-right: 0pt; border-left: 0pt; padding-left: 0pt; vertical-align: top; padding-bottom: 1pt; border-bottom: 0pt; padding-right: 0pt; ">
                                <P style="margin-left: 0pt; color: #000000; font-size: 9pt; font-family: Arial, sans-serif; line-height: normal; margin-top: 0; margin-bottom: 0; text-align: right; margin-right: 0pt; "><FONT style="float: left; "><FONT>$</FONT></FONT><FONT style="float: right; "><FONT>240,000</FONT></FONT><FONT style="font-size: 9pt; ">&#8203;</FONT>                                    <BR clear="all"></P>
                            </TD>
                            <TD style="background-color: #cceeff; border-top: 0pt; padding-top: 0pt; border-right: 0pt; border-left: 0pt; padding-left: 0pt; vertical-align: bottom; padding-bottom: 0pt; border-bottom: 0pt; padding-right: 0pt; ">
                                <P style="margin-left: 0pt; font-size: 1pt; line-height: 1pt; margin-top: 0pt; margin-bottom: 0; margin-right: 0pt; ">&#8203;</P>
                            </TD>
                            <TD style="background-color: #cceeff; border-top: 0pt; padding-top: 1pt; border-right: 0pt; border-left: 0pt; padding-left: 0pt; vertical-align: bottom; padding-bottom: 1pt; border-bottom: 0pt; padding-right: 0pt; ">
                                <P style="margin-left: 22.5pt; color: #000000; text-indent: -11.25pt; font-size: 9pt; font-family: Arial, sans-serif; line-height: normal; margin-top: 0; margin-bottom: 0; text-align: left; margin-right: 0pt; "><FONT>6.65% to 09/15/35 then T5Y + 2.392%, 09/15/55 </FONT></P>
                            </TD>
                            <TD style="background-color: #cceeff; border-top: 0pt; padding-top: 1pt; border-right: 0pt; border-left: 0pt; padding-left: 0pt; vertical-align: bottom; padding-bottom: 1pt; border-bottom: 0pt; padding-right: 0pt; ">
                                <P style="margin-left: 0pt; color: #000000; font-size: 9pt; font-family: Arial, sans-serif; line-height: normal; margin-top: 0; margin-bottom: 0; text-align: right; margin-right: 0pt; "><A name="pfd-nportex_083125a1242"></A><FONT>&#160;245,067</FONT></P>
                            </TD>
                            <TD style="background-color: #cceeff; border-top: 0pt; padding-top: 0pt; border-right: 0pt; border-left: 0pt; padding-left: 0pt; vertical-align: bottom; padding-bottom: 0pt; border-bottom: 0pt; padding-right: 0pt; ">
                                <P style="margin-left: 0pt; font-size: 1pt; line-height: 1pt; margin-top: 0pt; margin-bottom: 0; margin-right: 0pt; ">&#8203;</P>
                            </TD>
                        </TR>
                        <TR style="min-height: 3pt; ">
                            <TD style="border-top: 0pt; padding-top: 1pt; border-right: 0pt; border-left: 0pt; padding-left: 0pt; vertical-align: top; padding-bottom: 1pt; border-bottom: 0pt; padding-right: 0pt; ">
                                <P style="margin-left: 0pt; color: #000000; font-size: 9pt; font-family: Arial, sans-serif; line-height: normal; margin-top: 0; margin-bottom: 0; text-align: right; margin-right: 0pt; "><FONT>43,520</FONT></P>
                            </TD>
                            <TD style="border-top: 0pt; padding-top: 0pt; border-right: 0pt; border-left: 0pt; padding-left: 0pt; vertical-align: bottom; padding-bottom: 0pt; border-bottom: 0pt; padding-right: 0pt; ">
                                <P style="margin-left: 0pt; font-size: 1pt; line-height: 1pt; margin-top: 0pt; margin-bottom: 0; margin-right: 0pt; ">&#8203;</P>
                            </TD>
                            <TD style="border-top: 0pt; padding-top: 1pt; border-right: 0pt; border-left: 0pt; padding-left: 0pt; vertical-align: bottom; padding-bottom: 1pt; border-bottom: 0pt; padding-right: 0pt; ">
                                <P style="margin-left: 22.5pt; color: #000000; text-indent: -11.25pt; font-size: 9pt; font-family: Arial, sans-serif; line-height: normal; margin-top: 0; margin-bottom: 0; text-align: left; margin-right: 0pt; "><FONT>7.125% to 10/15/27 then T5Y + 3.456%, 10/15/52 </FONT></P>
                            </TD>
                            <TD style="border-top: 0pt; padding-top: 1pt; border-right: 0pt; border-left: 0pt; padding-left: 0pt; vertical-align: bottom; padding-bottom: 1pt; border-bottom: 0pt; padding-right: 0pt; ">
                                <P style="margin-left: 0pt; color: #000000; font-size: 9pt; font-family: Arial, sans-serif; line-height: normal; margin-top: 0; margin-bottom: 0; text-align: right; margin-right: 0pt; "><A name="pfd-nportex_083125a1243"></A><FONT>&#160;1,112,371</FONT></P>
                            </TD>
                            <TD style="border-top: 0pt; padding-top: 1pt; border-right: 0pt; border-left: 0pt; padding-left: 0pt; vertical-align: bottom; padding-bottom: 1pt; border-bottom: 0pt; padding-right: 0pt; ">
                                <P style="margin-left: 0pt; color: #000000; text-indent: 0pt; font-size: 9pt; font-family: Arial, sans-serif; line-height: normal; margin-top: 0; margin-bottom: 0; text-align: left; margin-right: 0pt; "><SUP style="font-size: 7.0pt; line-height: 7.0pt; ">(2)</SUP><FONT>&#160;</FONT></P>
                            </TD>
                        </TR>
                        <TR style="min-height: 3pt; ">
                            <TD style="background-color: #cceeff; border-top: 0pt; padding-top: 1pt; border-right: 0pt; border-left: 0pt; padding-left: 0pt; vertical-align: top; padding-bottom: 1pt; border-bottom: 0pt; padding-right: 0pt; ">
                                <P style="margin-left: 0pt; color: #000000; font-size: 9pt; font-family: Arial, sans-serif; line-height: normal; margin-top: 0; margin-bottom: 0; text-align: right; margin-right: 0pt; "><FONT>24,900</FONT></P>
                            </TD>
                            <TD style="background-color: #cceeff; border-top: 0pt; padding-top: 0pt; border-right: 0pt; border-left: 0pt; padding-left: 0pt; vertical-align: bottom; padding-bottom: 0pt; border-bottom: 0pt; padding-right: 0pt; ">
                                <P style="margin-left: 0pt; font-size: 1pt; line-height: 1pt; margin-top: 0pt; margin-bottom: 0; margin-right: 0pt; ">&#8203;</P>
                            </TD>
                            <TD style="background-color: #cceeff; border-top: 0pt; padding-top: 1pt; border-right: 0pt; border-left: 0pt; padding-left: 0pt; vertical-align: bottom; padding-bottom: 1pt; border-bottom: 0pt; padding-right: 0pt; ">
                                <P style="margin-left: 11.25pt; color: #000000; text-indent: -11.25pt; font-size: 9pt; font-family: Arial, sans-serif; line-height: normal; margin-top: 0; margin-bottom: 0; text-align: left; margin-right: 0pt; "><FONT>RenaissanceRe Holdings Ltd., 4.20%, Series G </FONT></P>
                            </TD>
                            <TD style="background-color: #cceeff; border-top: 0pt; padding-top: 1pt; border-right: 0pt; border-left: 0pt; padding-left: 0pt; vertical-align: bottom; padding-bottom: 1pt; border-bottom: 0pt; padding-right: 0pt; ">
                                <P style="margin-left: 0pt; color: #000000; font-size: 9pt; font-family: Arial, sans-serif; line-height: normal; margin-top: 0; margin-bottom: 0; text-align: right; margin-right: 0pt; "><A name="pfd-nportex_083125a1244"></A><FONT>&#160;407,613</FONT></P>
                            </TD>
                            <TD style="background-color: #cceeff; border-top: 0pt; padding-top: 1pt; border-right: 0pt; border-left: 0pt; padding-left: 0pt; vertical-align: bottom; padding-bottom: 1pt; border-bottom: 0pt; padding-right: 0pt; ">
                                <P style="margin-left: 0pt; color: #000000; text-indent: 0pt; font-size: 9pt; font-family: Arial, sans-serif; line-height: normal; margin-top: 0; margin-bottom: 0; text-align: left; margin-right: 0pt; "><FONT>**</FONT><SUP style="font-size: 7.0pt; line-height: 7.0pt; ">(1)(2)(5)</SUP><FONT>&#160;</FONT></P>
                            </TD>
                        </TR>
                        <TR style="min-height: 3pt; ">
                            <TD style="border-top: 0pt; padding-top: 1pt; border-right: 0pt; border-left: 0pt; padding-left: 0pt; vertical-align: top; padding-bottom: 1pt; border-bottom: 0pt; padding-right: 0pt; ">
                                <P style="margin-left: 0pt; color: #000000; font-size: 9pt; font-family: Arial, sans-serif; line-height: normal; margin-top: 0; margin-bottom: 0; text-align: right; margin-right: 0pt; "><FONT>&#160;</FONT></P>
                            </TD>
                            <TD style="border-top: 0pt; padding-top: 0pt; border-right: 0pt; border-left: 0pt; padding-left: 0pt; vertical-align: bottom; padding-bottom: 0pt; border-bottom: 0pt; padding-right: 0pt; ">
                                <P style="margin-left: 0pt; font-size: 1pt; line-height: 1pt; margin-top: 0pt; margin-bottom: 0; margin-right: 0pt; ">&#8203;</P>
                            </TD>
                            <TD style="border-top: 0pt; padding-top: 1pt; border-right: 0pt; border-left: 0pt; padding-left: 0pt; vertical-align: bottom; padding-bottom: 1pt; border-bottom: 0pt; padding-right: 0pt; ">
                                <P style="margin-left: 11.25pt; color: #000000; text-indent: -11.25pt; font-size: 9pt; font-family: Arial, sans-serif; line-height: normal; margin-top: 0; margin-bottom: 0; text-align: left; margin-right: 0pt; "><FONT>SBL Holdings, Inc.:</FONT></P>
                            </TD>
                            <TD style="border-top: 0pt; padding-top: 0pt; border-right: 0pt; border-left: 0pt; padding-left: 0pt; vertical-align: bottom; padding-bottom: 0pt; border-bottom: 0pt; padding-right: 0pt; ">
                                <P style="margin-left: 0pt; font-size: 1pt; line-height: 1pt; margin-top: 0pt; margin-bottom: 0; margin-right: 0pt; ">&#8203;</P>
                            </TD>
                            <TD style="border-top: 0pt; padding-top: 0pt; border-right: 0pt; border-left: 0pt; padding-left: 0pt; vertical-align: bottom; padding-bottom: 0pt; border-bottom: 0pt; padding-right: 0pt; ">
                                <P style="margin-left: 0pt; font-size: 1pt; line-height: 1pt; margin-top: 0pt; margin-bottom: 0; margin-right: 0pt; ">&#8203;</P>
                            </TD>
                        </TR>
                        <TR style="min-height: 3pt; ">
                            <TD style="background-color: #cceeff; border-top: 0pt; padding-top: 1pt; border-right: 0pt; border-left: 0pt; padding-left: 0pt; vertical-align: top; padding-bottom: 1pt; border-bottom: 0pt; padding-right: 0pt; ">
                                <P style="margin-left: 0pt; color: #000000; font-size: 9pt; font-family: Arial, sans-serif; line-height: normal; margin-top: 0; margin-bottom: 0; text-align: right; margin-right: 0pt; "><FONT style="float: left; "><FONT>$</FONT></FONT><FONT style="float: right; "><FONT>1,100,000</FONT></FONT><FONT style="font-size: 9pt; ">&#8203;</FONT>                                    <BR clear="all"></P>
                            </TD>
                            <TD style="background-color: #cceeff; border-top: 0pt; padding-top: 0pt; border-right: 0pt; border-left: 0pt; padding-left: 0pt; vertical-align: bottom; padding-bottom: 0pt; border-bottom: 0pt; padding-right: 0pt; ">
                                <P style="margin-left: 0pt; font-size: 1pt; line-height: 1pt; margin-top: 0pt; margin-bottom: 0; margin-right: 0pt; ">&#8203;</P>
                            </TD>
                            <TD style="background-color: #cceeff; border-top: 0pt; padding-top: 1pt; border-right: 0pt; border-left: 0pt; padding-left: 0pt; vertical-align: bottom; padding-bottom: 1pt; border-bottom: 0pt; padding-right: 0pt; ">
                                <P style="margin-left: 22.5pt; color: #000000; text-indent: -11.25pt; font-size: 9pt; font-family: Arial, sans-serif; line-height: normal; margin-top: 0; margin-bottom: 0; text-align: left; margin-right: 0pt; "><FONT>6.50% to 11/13/26 then T5Y + 5.62%, Series B, 144A**** </FONT></P>
                            </TD>
                            <TD style="background-color: #cceeff; border-top: 0pt; padding-top: 1pt; border-right: 0pt; border-left: 0pt; padding-left: 0pt; vertical-align: bottom; padding-bottom: 1pt; border-bottom: 0pt; padding-right: 0pt; ">
                                <P style="margin-left: 0pt; color: #000000; font-size: 9pt; font-family: Arial, sans-serif; line-height: normal; margin-top: 0; margin-bottom: 0; text-align: right; margin-right: 0pt; "><A name="pfd-nportex_083125a1245"></A><FONT>&#160;1,047,750</FONT></P>
                            </TD>
                            <TD style="background-color: #cceeff; border-top: 0pt; padding-top: 1pt; border-right: 0pt; border-left: 0pt; padding-left: 0pt; vertical-align: bottom; padding-bottom: 1pt; border-bottom: 0pt; padding-right: 0pt; ">
                                <P style="margin-left: 0pt; color: #000000; text-indent: 0pt; font-size: 9pt; font-family: Arial, sans-serif; line-height: normal; margin-top: 0; margin-bottom: 0; text-align: left; margin-right: 0pt; "><FONT>*</FONT><SUP style="font-size: 7.0pt; line-height: 7.0pt; ">(1)(2)(3)</SUP><FONT>&#160;</FONT></P>
                            </TD>
                        </TR>
                        <TR style="min-height: 3pt; ">
                            <TD style="border-top: 0pt; padding-top: 1pt; border-right: 0pt; border-left: 0pt; padding-left: 0pt; vertical-align: top; padding-bottom: 1pt; border-bottom: 0pt; padding-right: 0pt; ">
                                <P style="margin-left: 0pt; color: #000000; font-size: 9pt; font-family: Arial, sans-serif; line-height: normal; margin-top: 0; margin-bottom: 0; text-align: right; margin-right: 0pt; "><FONT style="float: left; "><FONT>$</FONT></FONT><FONT style="float: right; "><FONT>975,000</FONT></FONT><FONT style="font-size: 9pt; ">&#8203;</FONT>                                    <BR clear="all"></P>
                            </TD>
                            <TD style="border-top: 0pt; padding-top: 0pt; border-right: 0pt; border-left: 0pt; padding-left: 0pt; vertical-align: bottom; padding-bottom: 0pt; border-bottom: 0pt; padding-right: 0pt; ">
                                <P style="margin-left: 0pt; font-size: 1pt; line-height: 1pt; margin-top: 0pt; margin-bottom: 0; margin-right: 0pt; ">&#8203;</P>
                            </TD>
                            <TD style="border-top: 0pt; padding-top: 1pt; border-right: 0pt; border-left: 0pt; padding-left: 0pt; vertical-align: bottom; padding-bottom: 1pt; border-bottom: 0pt; padding-right: 0pt; ">
                                <P style="margin-left: 22.5pt; color: #000000; text-indent: -11.25pt; font-size: 9pt; font-family: Arial, sans-serif; line-height: normal; margin-top: 0; margin-bottom: 0; text-align: left; margin-right: 0pt; "><FONT>9.508% to 05/13/30 then T5Y + 5.58%, Series A, 144A**** </FONT></P>
                            </TD>
                            <TD style="border-top: 0pt; padding-top: 1pt; border-right: 0pt; border-left: 0pt; padding-left: 0pt; vertical-align: bottom; padding-bottom: 1pt; border-bottom: 0pt; padding-right: 0pt; ">
                                <P style="margin-left: 0pt; color: #000000; font-size: 9pt; font-family: Arial, sans-serif; line-height: normal; margin-top: 0; margin-bottom: 0; text-align: right; margin-right: 0pt; "><A name="pfd-nportex_083125a1246"></A><FONT>&#160;987,187</FONT></P>
                            </TD>
                            <TD style="border-top: 0pt; padding-top: 1pt; border-right: 0pt; border-left: 0pt; padding-left: 0pt; vertical-align: bottom; padding-bottom: 1pt; border-bottom: 0pt; padding-right: 0pt; ">
                                <P style="margin-left: 0pt; color: #000000; text-indent: 0pt; font-size: 9pt; font-family: Arial, sans-serif; line-height: normal; margin-top: 0; margin-bottom: 0; text-align: left; margin-right: 0pt; "><FONT>*</FONT><SUP style="font-size: 7.0pt; line-height: 7.0pt; ">(1)(2)</SUP><FONT>&#160;</FONT></P>
                            </TD>
                        </TR>
                        <TR style="min-height: 3pt; ">
                            <TD style="background-color: #cceeff; border-top: 0pt; padding-top: 1pt; border-right: 0pt; border-left: 0pt; padding-left: 0pt; vertical-align: top; padding-bottom: 1pt; border-bottom: 0pt; padding-right: 0pt; ">
                                <P style="margin-left: 0pt; color: #000000; font-size: 9pt; font-family: Arial, sans-serif; line-height: normal; margin-top: 0; margin-bottom: 0; text-align: right; margin-right: 0pt; "><FONT>&#160;</FONT></P>
                            </TD>
                            <TD style="background-color: #cceeff; border-top: 0pt; padding-top: 0pt; border-right: 0pt; border-left: 0pt; padding-left: 0pt; vertical-align: bottom; padding-bottom: 0pt; border-bottom: 0pt; padding-right: 0pt; ">
                                <P style="margin-left: 0pt; font-size: 1pt; line-height: 1pt; margin-top: 0pt; margin-bottom: 0; margin-right: 0pt; ">&#8203;</P>
                            </TD>
                            <TD style="background-color: #cceeff; border-top: 0pt; padding-top: 1pt; border-right: 0pt; border-left: 0pt; padding-left: 0pt; vertical-align: bottom; padding-bottom: 1pt; border-bottom: 0pt; padding-right: 0pt; ">
                                <P style="margin-left: 11.25pt; color: #000000; text-indent: -11.25pt; font-size: 9pt; font-family: Arial, sans-serif; line-height: normal; margin-top: 0; margin-bottom: 0; text-align: left; margin-right: 0pt; "><FONT>Unum Group:</FONT></P>
                            </TD>
                            <TD style="background-color: #cceeff; border-top: 0pt; padding-top: 0pt; border-right: 0pt; border-left: 0pt; padding-left: 0pt; vertical-align: bottom; padding-bottom: 0pt; border-bottom: 0pt; padding-right: 0pt; ">
                                <P style="margin-left: 0pt; font-size: 1pt; line-height: 1pt; margin-top: 0pt; margin-bottom: 0; margin-right: 0pt; ">&#8203;</P>
                            </TD>
                            <TD style="background-color: #cceeff; border-top: 0pt; padding-top: 0pt; border-right: 0pt; border-left: 0pt; padding-left: 0pt; vertical-align: bottom; padding-bottom: 0pt; border-bottom: 0pt; padding-right: 0pt; ">
                                <P style="margin-left: 0pt; font-size: 1pt; line-height: 1pt; margin-top: 0pt; margin-bottom: 0; margin-right: 0pt; ">&#8203;</P>
                            </TD>
                        </TR>
                        <TR style="min-height: 3pt; ">
                            <TD style="border-top: 0pt; padding-top: 1pt; border-right: 0pt; border-left: 0pt; padding-left: 0pt; vertical-align: top; padding-bottom: 1pt; border-bottom: 0pt; padding-right: 0pt; ">
                                <P style="margin-left: 0pt; color: #000000; font-size: 9pt; font-family: Arial, sans-serif; line-height: normal; margin-top: 0; margin-bottom: 0; text-align: right; margin-right: 0pt; "><FONT style="float: left; "><FONT>$</FONT></FONT><FONT style="float: right; "><FONT>5,160,000</FONT></FONT><FONT style="font-size: 9pt; ">&#8203;</FONT>                                    <BR clear="all"></P>
                            </TD>
                            <TD style="border-top: 0pt; padding-top: 0pt; border-right: 0pt; border-left: 0pt; padding-left: 0pt; vertical-align: bottom; padding-bottom: 0pt; border-bottom: 0pt; padding-right: 0pt; ">
                                <P style="margin-left: 0pt; font-size: 1pt; line-height: 1pt; margin-top: 0pt; margin-bottom: 0; margin-right: 0pt; ">&#8203;</P>
                            </TD>
                            <TD style="border-top: 0pt; padding-top: 1pt; border-right: 0pt; border-left: 0pt; padding-left: 0pt; vertical-align: bottom; padding-bottom: 1pt; border-bottom: 0pt; padding-right: 0pt; ">
                                <P style="margin-left: 22.5pt; color: #000000; text-indent: -11.25pt; font-size: 9pt; font-family: Arial, sans-serif; line-height: normal; margin-top: 0; margin-bottom: 0; text-align: left; margin-right: 0pt; "><FONT>Provident Financing Trust I, 7.405% 03/15/38 </FONT></P>
                            </TD>
                            <TD style="border-top: 0pt; padding-top: 1pt; border-right: 0pt; border-left: 0pt; padding-left: 0pt; vertical-align: bottom; padding-bottom: 1pt; border-bottom: 0pt; padding-right: 0pt; ">
                                <P style="margin-left: 0pt; color: #000000; font-size: 9pt; font-family: Arial, sans-serif; line-height: normal; margin-top: 0; margin-bottom: 0; text-align: right; margin-right: 0pt; "><A name="pfd-nportex_083125a1247"></A><FONT>&#160;5,588,027</FONT></P>
                            </TD>
                            <TD style="border-top: 0pt; padding-top: 1pt; border-right: 0pt; border-left: 0pt; padding-left: 0pt; vertical-align: bottom; padding-bottom: 1pt; border-bottom: 0pt; padding-right: 0pt; ">
                                <P style="margin-left: 0pt; color: #000000; text-indent: 0pt; font-size: 9pt; font-family: Arial, sans-serif; line-height: normal; margin-top: 0; margin-bottom: 0; text-align: left; margin-right: 0pt; "><SUP style="font-size: 7.0pt; line-height: 7.0pt; ">(2)</SUP><FONT>&#160;</FONT></P>
                            </TD>
                        </TR>
                        <TR style="min-height: 3pt; ">
                            <TD style="background-color: #cceeff; border-top: 0pt; padding-top: 1pt; border-right: 0pt; border-left: 0pt; padding-left: 0pt; vertical-align: top; padding-bottom: 1pt; border-bottom: 0.5pt solid #000000; padding-right: 0pt; ">
                                <P style="margin-left: 0pt; color: #000000; font-size: 9pt; font-family: Arial, sans-serif; line-height: normal; margin-top: 0; margin-bottom: 0; text-align: right; margin-right: 0pt; "><FONT>25,000</FONT></P>
                            </TD>
                            <TD style="background-color: #cceeff; border-top: 0pt; padding-top: 0pt; border-right: 0pt; border-left: 0pt; padding-left: 0pt; vertical-align: bottom; padding-bottom: 0pt; border-bottom: 0.5pt solid #000000; padding-right: 0pt; ">
                                <P style="margin-left: 0pt; font-size: 1pt; line-height: 1pt; margin-top: 0pt; margin-bottom: 0; margin-right: 0pt; ">&#8203;</P>
                            </TD>
                            <TD style="background-color: #cceeff; border-top: 0pt; padding-top: 1pt; border-right: 0pt; border-left: 0pt; padding-left: 0pt; vertical-align: bottom; padding-bottom: 1pt; border-bottom: 0.5pt solid #000000; padding-right: 0pt; ">
                                <P style="margin-left: 11.25pt; color: #000000; text-indent: -11.25pt; font-size: 9pt; font-family: Arial, sans-serif; line-height: normal; margin-top: 0; margin-bottom: 0; text-align: left; margin-right: 0pt; "><FONT>Voya Financial, Inc., 5.35% to 09/15/29 then T5Y + 3.21%, Series B </FONT></P>
                            </TD>
                            <TD style="background-color: #cceeff; border-top: 0pt; padding-top: 1pt; border-right: 0pt; border-left: 0pt; padding-left: 0pt; vertical-align: bottom; padding-bottom: 1pt; border-bottom: 0.5pt solid #000000; padding-right: 0pt; ">
                                <P style="margin-left: 0pt; color: #000000; font-size: 9pt; font-family: Arial, sans-serif; line-height: normal; margin-top: 0; margin-bottom: 0; text-align: right; margin-right: 0pt; "><A name="pfd-nportex_083125a1248"></A><FONT>&#160;590,500</FONT></P>
                            </TD>
                            <TD style="background-color: #cceeff; border-top: 0pt; padding-top: 1pt; border-right: 0pt; border-left: 0pt; padding-left: 0pt; vertical-align: bottom; padding-bottom: 1pt; border-bottom: 0pt; padding-right: 0pt; ">
                                <P style="margin-left: 0pt; color: #000000; text-indent: 0pt; font-size: 9pt; font-family: Arial, sans-serif; line-height: normal; margin-top: 0; margin-bottom: 0; text-align: left; margin-right: 0pt; "><FONT>*</FONT><SUP style="font-size: 7.0pt; line-height: 7.0pt; ">(1)(2)</SUP><FONT>&#160;</FONT></P>
                            </TD>
                        </TR>
                        <TR style="min-height: 3pt; ">
                            <TD style="border-top: 0.5pt solid #000000; padding-top: 1pt; border-right: 0pt; border-left: 0pt; padding-left: 0pt; vertical-align: top; padding-bottom: 1pt; border-bottom: 0pt; padding-right: 0pt; ">
                                <P style="margin-left: 0pt; color: #000000; font-size: 9pt; font-family: Arial, sans-serif; line-height: normal; margin-top: 0; margin-bottom: 0; text-align: right; margin-right: 0pt; "><FONT>&#160;</FONT></P>
                            </TD>
                            <TD style="border-top: 0.5pt solid #000000; padding-top: 0pt; border-right: 0pt; border-left: 0pt; padding-left: 0pt; vertical-align: bottom; padding-bottom: 0pt; border-bottom: 0pt; padding-right: 0pt; ">
                                <P style="margin-left: 0pt; font-size: 1pt; line-height: 1pt; margin-top: 0pt; margin-bottom: 0; margin-right: 0pt; ">&#8203;</P>
                            </TD>
                            <TD style="border-top: 0.5pt solid #000000; padding-top: 0pt; border-right: 0pt; border-left: 0pt; padding-left: 0pt; vertical-align: bottom; padding-bottom: 0pt; border-bottom: 0pt; padding-right: 0pt; ">
                                <P style="margin-left: 0pt; font-size: 1pt; line-height: 1pt; margin-top: 0pt; margin-bottom: 0; margin-right: 0pt; ">&#8203;</P>
                            </TD>
                            <TD style="border-top: 0.5pt solid #000000; padding-top: 1pt; border-right: 0pt; border-left: 0pt; padding-left: 0pt; vertical-align: bottom; padding-bottom: 1pt; border-bottom: 0.5pt solid #000000; padding-right: 0pt; ">
                                <P style="margin-left: 0pt; color: #000000; font-size: 9pt; font-family: Arial, sans-serif; line-height: normal; margin-top: 0; margin-bottom: 0; text-align: right; margin-right: 0pt; "><A name="pfd-nportex_083125a1249"></A><FONT>&#160;44,892,651</FONT></P>
                            </TD>
                            <TD style="border-top: 0pt; padding-top: 0pt; border-right: 0pt; border-left: 0pt; padding-left: 0pt; vertical-align: bottom; padding-bottom: 0pt; border-bottom: 0pt; padding-right: 0pt; ">
                                <P style="margin-left: 0pt; font-size: 1pt; line-height: 1pt; margin-top: 0pt; margin-bottom: 0; margin-right: 0pt; ">&#8203;</P>
                            </TD>
                        </TR>
                        <TR style="min-height: 3pt; ">
                            <TD style="background-color: #cceeff; border-top: 0pt; padding-top: 1pt; border-right: 0pt; border-left: 0pt; padding-left: 0pt; vertical-align: top; padding-bottom: 1pt; border-bottom: 0.5pt solid #000000; padding-right: 0pt; ">
                                <P style="margin-left: 0pt; color: #000000; font-size: 9pt; font-family: Arial, sans-serif; line-height: normal; margin-top: 0; margin-bottom: 0; text-align: right; margin-right: 0pt; "><FONT>&#160;</FONT></P>
                            </TD>
                            <TD style="background-color: #cceeff; border-top: 0pt; padding-top: 0pt; border-right: 0pt; border-left: 0pt; padding-left: 0pt; vertical-align: bottom; padding-bottom: 0pt; border-bottom: 0.5pt solid #000000; padding-right: 0pt; ">
                                <P style="margin-left: 0pt; font-size: 1pt; line-height: 1pt; margin-top: 0pt; margin-bottom: 0; margin-right: 0pt; ">&#8203;</P>
                            </TD>
                            <TD style="background-color: #cceeff; border-top: 0pt; padding-top: 1pt; border-right: 0pt; border-left: 0pt; padding-left: 0pt; vertical-align: bottom; padding-bottom: 1pt; border-bottom: 0.5pt solid #000000; padding-right: 0pt; ">
                                <P style="margin-left: 0pt; color: #000000; text-indent: 0pt; font-size: 9pt; font-family: Arial, sans-serif; line-height: normal; margin-top: 0; margin-bottom: 0; text-align: left; margin-right: 0pt; "><FONT style="font-weight: bold; "><B>Utilities &#8212; 11.9%</B></FONT></P>
                            </TD>
                            <TD style="background-color: #cceeff; border-top: 0.5pt solid #000000; padding-top: 0pt; border-right: 0pt; border-left: 0pt; padding-left: 0pt; vertical-align: bottom; padding-bottom: 0pt; border-bottom: 0.5pt solid #000000; padding-right: 0pt; ">
                                <P style="margin-left: 0pt; font-size: 1pt; line-height: 1pt; margin-top: 0pt; margin-bottom: 0; margin-right: 0pt; ">&#8203;</P>
                            </TD>
                            <TD style="background-color: #cceeff; border-top: 0pt; padding-top: 0pt; border-right: 0pt; border-left: 0pt; padding-left: 0pt; vertical-align: bottom; padding-bottom: 0pt; border-bottom: 0pt; padding-right: 0pt; ">
                                <P style="margin-left: 0pt; font-size: 1pt; line-height: 1pt; margin-top: 0pt; margin-bottom: 0; margin-right: 0pt; ">&#8203;</P>
                            </TD>
                        </TR>
                        <TR style="min-height: 3pt; ">
                            <TD style="border-top: 0.5pt solid #000000; padding-top: 1pt; border-right: 0pt; border-left: 0pt; padding-left: 0pt; vertical-align: top; padding-bottom: 1pt; border-bottom: 0pt; padding-right: 0pt; ">
                                <P style="margin-left: 0pt; color: #000000; font-size: 9pt; font-family: Arial, sans-serif; line-height: normal; margin-top: 0; margin-bottom: 0; text-align: right; margin-right: 0pt; "><FONT style="float: left; "><FONT>$</FONT></FONT><FONT style="float: right; "><FONT>785,000</FONT></FONT><FONT style="font-size: 9pt; ">&#8203;</FONT>                                    <BR clear="all"></P>
                            </TD>
                            <TD style="border-top: 0.5pt solid #000000; padding-top: 0pt; border-right: 0pt; border-left: 0pt; padding-left: 0pt; vertical-align: bottom; padding-bottom: 0pt; border-bottom: 0pt; padding-right: 0pt; ">
                                <P style="margin-left: 0pt; font-size: 1pt; line-height: 1pt; margin-top: 0pt; margin-bottom: 0; margin-right: 0pt; ">&#8203;</P>
                            </TD>
                            <TD style="border-top: 0.5pt solid #000000; padding-top: 1pt; border-right: 0pt; border-left: 0pt; padding-left: 0pt; vertical-align: bottom; padding-bottom: 1pt; border-bottom: 0pt; padding-right: 0pt; ">
                                <P style="margin-left: 11.25pt; color: #000000; text-indent: -11.25pt; font-size: 9pt; font-family: Arial, sans-serif; line-height: normal; margin-top: 0; margin-bottom: 0; text-align: left; margin-right: 0pt; "><FONT>AES Corporation, 7.60% to 01/15/30 then T5Y + 3.201%, 01/15/55 </FONT></P>
                            </TD>
                            <TD style="border-top: 0.5pt solid #000000; padding-top: 1pt; border-right: 0pt; border-left: 0pt; padding-left: 0pt; vertical-align: bottom; padding-bottom: 1pt; border-bottom: 0pt; padding-right: 0pt; ">
                                <P style="margin-left: 0pt; color: #000000; font-size: 9pt; font-family: Arial, sans-serif; line-height: normal; margin-top: 0; margin-bottom: 0; text-align: right; margin-right: 0pt; "><A name="pfd-nportex_083125a1251"></A><FONT>808,570</FONT></P>
                            </TD>
                            <TD style="border-top: 0pt; padding-top: 1pt; border-right: 0pt; border-left: 0pt; padding-left: 0pt; vertical-align: bottom; padding-bottom: 1pt; border-bottom: 0pt; padding-right: 0pt; ">
                                <P style="margin-left: 0pt; color: #000000; text-indent: 0pt; font-size: 9pt; font-family: Arial, sans-serif; line-height: normal; margin-top: 0; margin-bottom: 0; text-align: left; margin-right: 0pt; "><SUP style="font-size: 7.0pt; line-height: 7.0pt; ">(2)</SUP><FONT>&#160;</FONT></P>
                            </TD>
                        </TR>
                        <TR style="min-height: 3pt; ">
                            <TD style="background-color: #cceeff; border-top: 0pt; padding-top: 1pt; border-right: 0pt; border-left: 0pt; padding-left: 0pt; vertical-align: top; padding-bottom: 1pt; border-bottom: 0pt; padding-right: 0pt; ">
                                <P style="margin-left: 0pt; color: #000000; font-size: 9pt; font-family: Arial, sans-serif; line-height: normal; margin-top: 0; margin-bottom: 0; text-align: right; margin-right: 0pt; "><FONT>&#160;</FONT></P>
                            </TD>
                            <TD style="background-color: #cceeff; border-top: 0pt; padding-top: 0pt; border-right: 0pt; border-left: 0pt; padding-left: 0pt; vertical-align: bottom; padding-bottom: 0pt; border-bottom: 0pt; padding-right: 0pt; ">
                                <P style="margin-left: 0pt; font-size: 1pt; line-height: 1pt; margin-top: 0pt; margin-bottom: 0; margin-right: 0pt; ">&#8203;</P>
                            </TD>
                            <TD style="background-color: #cceeff; border-top: 0pt; padding-top: 1pt; border-right: 0pt; border-left: 0pt; padding-left: 0pt; vertical-align: bottom; padding-bottom: 1pt; border-bottom: 0pt; padding-right: 0pt; ">
                                <P style="margin-left: 11.25pt; color: #000000; text-indent: -11.25pt; font-size: 9pt; font-family: Arial, sans-serif; line-height: normal; margin-top: 0; margin-bottom: 0; text-align: left; margin-right: 0pt; "><FONT>Algonquin Power &amp; Utilities Corporation:</FONT></P>
                            </TD>
                            <TD style="background-color: #cceeff; border-top: 0pt; padding-top: 0pt; border-right: 0pt; border-left: 0pt; padding-left: 0pt; vertical-align: bottom; padding-bottom: 0pt; border-bottom: 0pt; padding-right: 0pt; ">
                                <P style="margin-left: 0pt; font-size: 1pt; line-height: 1pt; margin-top: 0pt; margin-bottom: 0; margin-right: 0pt; ">&#8203;</P>
                            </TD>
                            <TD style="background-color: #cceeff; border-top: 0pt; padding-top: 0pt; border-right: 0pt; border-left: 0pt; padding-left: 0pt; vertical-align: bottom; padding-bottom: 0pt; border-bottom: 0pt; padding-right: 0pt; ">
                                <P style="margin-left: 0pt; font-size: 1pt; line-height: 1pt; margin-top: 0pt; margin-bottom: 0; margin-right: 0pt; ">&#8203;</P>
                            </TD>
                        </TR>
                        <TR style="min-height: 3pt; ">
                            <TD style="border-top: 0pt; padding-top: 1pt; border-right: 0pt; border-left: 0pt; padding-left: 0pt; vertical-align: top; padding-bottom: 1pt; border-bottom: 0pt; padding-right: 0pt; ">
                                <P style="margin-left: 0pt; color: #000000; font-size: 9pt; font-family: Arial, sans-serif; line-height: normal; margin-top: 0; margin-bottom: 0; text-align: right; margin-right: 0pt; "><FONT style="float: left; "><FONT>$</FONT></FONT><FONT style="float: right; "><FONT>1,700,000</FONT></FONT><FONT style="font-size: 9pt; ">&#8203;</FONT>                                    <BR clear="all"></P>
                            </TD>
                            <TD style="border-top: 0pt; padding-top: 0pt; border-right: 0pt; border-left: 0pt; padding-left: 0pt; vertical-align: bottom; padding-bottom: 0pt; border-bottom: 0pt; padding-right: 0pt; ">
                                <P style="margin-left: 0pt; font-size: 1pt; line-height: 1pt; margin-top: 0pt; margin-bottom: 0; margin-right: 0pt; ">&#8203;</P>
                            </TD>
                            <TD style="border-top: 0pt; padding-top: 1pt; border-right: 0pt; border-left: 0pt; padding-left: 0pt; vertical-align: bottom; padding-bottom: 1pt; border-bottom: 0pt; padding-right: 0pt; ">
                                <P style="margin-left: 22.5pt; color: #000000; text-indent: -11.25pt; font-size: 9pt; font-family: Arial, sans-serif; line-height: normal; margin-top: 0; margin-bottom: 0; text-align: left; margin-right: 0pt; "><FONT>4.75% to 04/18/27 then T5Y + 3.249%, 01/18/82, Series 2022-B </FONT></P>
                            </TD>
                            <TD style="border-top: 0pt; padding-top: 1pt; border-right: 0pt; border-left: 0pt; padding-left: 0pt; vertical-align: bottom; padding-bottom: 1pt; border-bottom: 0pt; padding-right: 0pt; ">
                                <P style="margin-left: 0pt; color: #000000; font-size: 9pt; font-family: Arial, sans-serif; line-height: normal; margin-top: 0; margin-bottom: 0; text-align: right; margin-right: 0pt; "><A name="pfd-nportex_083125a1252"></A><FONT>&#160;1,654,700</FONT></P>
                            </TD>
                            <TD style="border-top: 0pt; padding-top: 1pt; border-right: 0pt; border-left: 0pt; padding-left: 0pt; vertical-align: bottom; padding-bottom: 1pt; border-bottom: 0pt; padding-right: 0pt; ">
                                <P style="margin-left: 0pt; color: #000000; text-indent: 0pt; font-size: 9pt; font-family: Arial, sans-serif; line-height: normal; margin-top: 0; margin-bottom: 0; text-align: left; margin-right: 0pt; "><SUP style="font-size: 7.0pt; line-height: 7.0pt; ">(2)(3)(5)</SUP><FONT>&#160;</FONT></P>
                            </TD>
                        </TR>
                        <TR style="min-height: 3pt; ">
                            <TD style="background-color: #cceeff; border-top: 0pt; padding-top: 1pt; border-right: 0pt; border-left: 0pt; padding-left: 0pt; vertical-align: top; padding-bottom: 1pt; border-bottom: 0pt; padding-right: 0pt; ">
                                <P style="margin-left: 0pt; color: #000000; font-size: 9pt; font-family: Arial, sans-serif; line-height: normal; margin-top: 0; margin-bottom: 0; text-align: right; margin-right: 0pt; "><FONT>48,175</FONT></P>
                            </TD>
                            <TD style="background-color: #cceeff; border-top: 0pt; padding-top: 0pt; border-right: 0pt; border-left: 0pt; padding-left: 0pt; vertical-align: bottom; padding-bottom: 0pt; border-bottom: 0pt; padding-right: 0pt; ">
                                <P style="margin-left: 0pt; font-size: 1pt; line-height: 1pt; margin-top: 0pt; margin-bottom: 0; margin-right: 0pt; ">&#8203;</P>
                            </TD>
                            <TD style="background-color: #cceeff; border-top: 0pt; padding-top: 1pt; border-right: 0pt; border-left: 0pt; padding-left: 0pt; vertical-align: bottom; padding-bottom: 1pt; border-bottom: 0pt; padding-right: 0pt; ">
                                <P style="margin-left: 22.5pt; color: #000000; text-indent: -11.25pt; font-size: 9pt; font-family: Arial, sans-serif; line-height: normal; margin-top: 0; margin-bottom: 0; text-align: left; margin-right: 0pt; "><FONT>TSFR3M + 4.27161%, 8.56396%</FONT><SUP style="font-size: 7.0pt; line-height: 7.0pt; ">(4)</SUP><FONT>, 07/01/79, Series 2019-A </FONT></P>
                            </TD>
                            <TD style="background-color: #cceeff; border-top: 0pt; padding-top: 1pt; border-right: 0pt; border-left: 0pt; padding-left: 0pt; vertical-align: bottom; padding-bottom: 1pt; border-bottom: 0pt; padding-right: 0pt; ">
                                <P style="margin-left: 0pt; color: #000000; font-size: 9pt; font-family: Arial, sans-serif; line-height: normal; margin-top: 0; margin-bottom: 0; text-align: right; margin-right: 0pt; "><A name="pfd-nportex_083125a1253"></A><FONT>&#160;1,228,944</FONT></P>
                            </TD>
                            <TD style="background-color: #cceeff; border-top: 0pt; padding-top: 1pt; border-right: 0pt; border-left: 0pt; padding-left: 0pt; vertical-align: bottom; padding-bottom: 1pt; border-bottom: 0pt; padding-right: 0pt; ">
                                <P style="margin-left: 0pt; color: #000000; text-indent: 0pt; font-size: 9pt; font-family: Arial, sans-serif; line-height: normal; margin-top: 0; margin-bottom: 0; text-align: left; margin-right: 0pt; "><SUP style="font-size: 7.0pt; line-height: 7.0pt; ">(2)(5)</SUP><FONT>&#160;</FONT></P>
                            </TD>
                        </TR>
                        <TR style="min-height: 3pt; ">
                            <TD style="border-top: 0pt; padding-top: 1pt; border-right: 0pt; border-left: 0pt; padding-left: 0pt; vertical-align: top; padding-bottom: 1pt; border-bottom: 0pt; padding-right: 0pt; ">
                                <P style="margin-left: 0pt; color: #000000; font-size: 9pt; font-family: Arial, sans-serif; line-height: normal; margin-top: 0; margin-bottom: 0; text-align: right; margin-right: 0pt; "><FONT style="float: left; "><FONT>$</FONT></FONT><FONT style="float: right; "><FONT>535,000</FONT></FONT><FONT style="font-size: 9pt; ">&#8203;</FONT>                                    <BR clear="all"></P>
                            </TD>
                            <TD style="border-top: 0pt; padding-top: 0pt; border-right: 0pt; border-left: 0pt; padding-left: 0pt; vertical-align: bottom; padding-bottom: 0pt; border-bottom: 0pt; padding-right: 0pt; ">
                                <P style="margin-left: 0pt; font-size: 1pt; line-height: 1pt; margin-top: 0pt; margin-bottom: 0; margin-right: 0pt; ">&#8203;</P>
                            </TD>
                            <TD style="border-top: 0pt; padding-top: 1pt; border-right: 0pt; border-left: 0pt; padding-left: 0pt; vertical-align: bottom; padding-bottom: 1pt; border-bottom: 0pt; padding-right: 0pt; ">
                                <P style="margin-left: 11.25pt; color: #000000; text-indent: -11.25pt; font-size: 9pt; font-family: Arial, sans-serif; line-height: normal; margin-top: 0; margin-bottom: 0; text-align: left; margin-right: 0pt; "><FONT>AltaGas Ltd., 7.20% to 10/15/34 then T5Y + 3.573%, 10/15/54, 144A**** </FONT></P>
                            </TD>
                            <TD style="border-top: 0pt; padding-top: 1pt; border-right: 0pt; border-left: 0pt; padding-left: 0pt; vertical-align: bottom; padding-bottom: 1pt; border-bottom: 0pt; padding-right: 0pt; ">
                                <P style="margin-left: 0pt; color: #000000; font-size: 9pt; font-family: Arial, sans-serif; line-height: normal; margin-top: 0; margin-bottom: 0; text-align: right; margin-right: 0pt; "><A name="pfd-nportex_083125a1254"></A><FONT>&#160;543,463</FONT></P>
                            </TD>
                            <TD style="border-top: 0pt; padding-top: 1pt; border-right: 0pt; border-left: 0pt; padding-left: 0pt; vertical-align: bottom; padding-bottom: 1pt; border-bottom: 0pt; padding-right: 0pt; ">
                                <P style="margin-left: 0pt; color: #000000; text-indent: 0pt; font-size: 9pt; font-family: Arial, sans-serif; line-height: normal; margin-top: 0; margin-bottom: 0; text-align: left; margin-right: 0pt; "><SUP style="font-size: 7.0pt; line-height: 7.0pt; ">(5)</SUP><FONT>&#160;</FONT></P>
                            </TD>
                        </TR>
                        <TR style="min-height: 3pt; ">
                            <TD style="background-color: #cceeff; border-top: 0pt; padding-top: 1pt; border-right: 0pt; border-left: 0pt; padding-left: 0pt; vertical-align: top; padding-bottom: 1pt; border-bottom: 0pt; padding-right: 0pt; ">
                                <P style="margin-left: 0pt; color: #000000; font-size: 9pt; font-family: Arial, sans-serif; line-height: normal; margin-top: 0; margin-bottom: 0; text-align: right; margin-right: 0pt; "><FONT>&#160;</FONT></P>
                            </TD>
                            <TD style="background-color: #cceeff; border-top: 0pt; padding-top: 0pt; border-right: 0pt; border-left: 0pt; padding-left: 0pt; vertical-align: bottom; padding-bottom: 0pt; border-bottom: 0pt; padding-right: 0pt; ">
                                <P style="margin-left: 0pt; font-size: 1pt; line-height: 1pt; margin-top: 0pt; margin-bottom: 0; margin-right: 0pt; ">&#8203;</P>
                            </TD>
                            <TD style="background-color: #cceeff; border-top: 0pt; padding-top: 1pt; border-right: 0pt; border-left: 0pt; padding-left: 0pt; vertical-align: bottom; padding-bottom: 1pt; border-bottom: 0pt; padding-right: 0pt; ">
                                <P style="margin-left: 11.25pt; color: #000000; text-indent: -11.25pt; font-size: 9pt; font-family: Arial, sans-serif; line-height: normal; margin-top: 0; margin-bottom: 0; text-align: left; margin-right: 0pt; "><FONT>American Electric Power Company, Inc.:</FONT></P>
                            </TD>
                            <TD style="background-color: #cceeff; border-top: 0pt; padding-top: 0pt; border-right: 0pt; border-left: 0pt; padding-left: 0pt; vertical-align: bottom; padding-bottom: 0pt; border-bottom: 0pt; padding-right: 0pt; ">
                                <P style="margin-left: 0pt; font-size: 1pt; line-height: 1pt; margin-top: 0pt; margin-bottom: 0; margin-right: 0pt; ">&#8203;</P>
                            </TD>
                            <TD style="background-color: #cceeff; border-top: 0pt; padding-top: 0pt; border-right: 0pt; border-left: 0pt; padding-left: 0pt; vertical-align: bottom; padding-bottom: 0pt; border-bottom: 0pt; padding-right: 0pt; ">
                                <P style="margin-left: 0pt; font-size: 1pt; line-height: 1pt; margin-top: 0pt; margin-bottom: 0; margin-right: 0pt; ">&#8203;</P>
                            </TD>
                        </TR>
                        <TR style="min-height: 3pt; ">
                            <TD style="border-top: 0pt; padding-top: 1pt; border-right: 0pt; border-left: 0pt; padding-left: 0pt; vertical-align: top; padding-bottom: 1pt; border-bottom: 0pt; padding-right: 0pt; ">
                                <P style="margin-left: 0pt; color: #000000; font-size: 9pt; font-family: Arial, sans-serif; line-height: normal; margin-top: 0; margin-bottom: 0; text-align: right; margin-right: 0pt; "><FONT style="float: left; "><FONT>$</FONT></FONT><FONT style="float: right; "><FONT>1,060,000</FONT></FONT><FONT style="font-size: 9pt; ">&#8203;</FONT>                                    <BR clear="all"></P>
                            </TD>
                            <TD style="border-top: 0pt; padding-top: 0pt; border-right: 0pt; border-left: 0pt; padding-left: 0pt; vertical-align: bottom; padding-bottom: 0pt; border-bottom: 0pt; padding-right: 0pt; ">
                                <P style="margin-left: 0pt; font-size: 1pt; line-height: 1pt; margin-top: 0pt; margin-bottom: 0; margin-right: 0pt; ">&#8203;</P>
                            </TD>
                            <TD style="border-top: 0pt; padding-top: 1pt; border-right: 0pt; border-left: 0pt; padding-left: 0pt; vertical-align: bottom; padding-bottom: 1pt; border-bottom: 0pt; padding-right: 0pt; ">
                                <P style="margin-left: 22.5pt; color: #000000; text-indent: -11.25pt; font-size: 9pt; font-family: Arial, sans-serif; line-height: normal; margin-top: 0; margin-bottom: 0; text-align: left; margin-right: 0pt; "><FONT>3.875% to 02/15/27 then T5Y + 2.675%, 02/15/62 </FONT></P>
                            </TD>
                            <TD style="border-top: 0pt; padding-top: 1pt; border-right: 0pt; border-left: 0pt; padding-left: 0pt; vertical-align: bottom; padding-bottom: 1pt; border-bottom: 0pt; padding-right: 0pt; ">
                                <P style="margin-left: 0pt; color: #000000; font-size: 9pt; font-family: Arial, sans-serif; line-height: normal; margin-top: 0; margin-bottom: 0; text-align: right; margin-right: 0pt; "><A name="pfd-nportex_083125a1255"></A><FONT>&#160;1,030,309</FONT></P>
                            </TD>
                            <TD style="border-top: 0pt; padding-top: 1pt; border-right: 0pt; border-left: 0pt; padding-left: 0pt; vertical-align: bottom; padding-bottom: 1pt; border-bottom: 0pt; padding-right: 0pt; ">
                                <P style="margin-left: 0pt; color: #000000; text-indent: 0pt; font-size: 9pt; font-family: Arial, sans-serif; line-height: normal; margin-top: 0; margin-bottom: 0; text-align: left; margin-right: 0pt; "><SUP style="font-size: 7.0pt; line-height: 7.0pt; ">(2)(3)</SUP><FONT>&#160;</FONT></P>
                            </TD>
                        </TR>
                        <TR style="min-height: 3pt; ">
                            <TD style="background-color: #cceeff; border-top: 0pt; padding-top: 1pt; border-right: 0pt; border-left: 0pt; padding-left: 0pt; vertical-align: top; padding-bottom: 1pt; border-bottom: 0pt; padding-right: 0pt; ">
                                <P style="margin-left: 0pt; color: #000000; font-size: 9pt; font-family: Arial, sans-serif; line-height: normal; margin-top: 0; margin-bottom: 0; text-align: right; margin-right: 0pt; "><FONT style="float: left; "><FONT>$</FONT></FONT><FONT style="float: right; "><FONT>995,000</FONT></FONT><FONT style="font-size: 9pt; ">&#8203;</FONT>                                    <BR clear="all"></P>
                            </TD>
                            <TD style="background-color: #cceeff; border-top: 0pt; padding-top: 0pt; border-right: 0pt; border-left: 0pt; padding-left: 0pt; vertical-align: bottom; padding-bottom: 0pt; border-bottom: 0pt; padding-right: 0pt; ">
                                <P style="margin-left: 0pt; font-size: 1pt; line-height: 1pt; margin-top: 0pt; margin-bottom: 0; margin-right: 0pt; ">&#8203;</P>
                            </TD>
                            <TD style="background-color: #cceeff; border-top: 0pt; padding-top: 1pt; border-right: 0pt; border-left: 0pt; padding-left: 0pt; vertical-align: bottom; padding-bottom: 1pt; border-bottom: 0pt; padding-right: 0pt; ">
                                <P style="margin-left: 22.5pt; color: #000000; text-indent: -11.25pt; font-size: 9pt; font-family: Arial, sans-serif; line-height: normal; margin-top: 0; margin-bottom: 0; text-align: left; margin-right: 0pt; "><FONT>6.95% to 12/15/34 then T5Y + 2.675%, 12/15/54, Series B </FONT></P>
                            </TD>
                            <TD style="background-color: #cceeff; border-top: 0pt; padding-top: 1pt; border-right: 0pt; border-left: 0pt; padding-left: 0pt; vertical-align: bottom; padding-bottom: 1pt; border-bottom: 0pt; padding-right: 0pt; ">
                                <P style="margin-left: 0pt; color: #000000; font-size: 9pt; font-family: Arial, sans-serif; line-height: normal; margin-top: 0; margin-bottom: 0; text-align: right; margin-right: 0pt; "><A name="pfd-nportex_083125a1256"></A><FONT>&#160;1,060,328</FONT></P>
                            </TD>
                            <TD style="background-color: #cceeff; border-top: 0pt; padding-top: 1pt; border-right: 0pt; border-left: 0pt; padding-left: 0pt; vertical-align: bottom; padding-bottom: 1pt; border-bottom: 0pt; padding-right: 0pt; ">
                                <P style="margin-left: 0pt; color: #000000; text-indent: 0pt; font-size: 9pt; font-family: Arial, sans-serif; line-height: normal; margin-top: 0; margin-bottom: 0; text-align: left; margin-right: 0pt; "><SUP style="font-size: 7.0pt; line-height: 7.0pt; ">(2)(3)</SUP><FONT>&#160;</FONT></P>
                            </TD>
                        </TR>
                        <TR style="min-height: 3pt; ">
                            <TD style="border-top: 0pt; padding-top: 1pt; border-right: 0pt; border-left: 0pt; padding-left: 0pt; vertical-align: top; padding-bottom: 1pt; border-bottom: 0pt; padding-right: 0pt; ">
                                <P style="margin-left: 0pt; color: #000000; font-size: 9pt; font-family: Arial, sans-serif; line-height: normal; margin-top: 0; margin-bottom: 0; text-align: right; margin-right: 0pt; "><FONT style="float: left; "><FONT>$</FONT></FONT><FONT style="float: right; "><FONT>765,000</FONT></FONT><FONT style="font-size: 9pt; ">&#8203;</FONT>                                    <BR clear="all"></P>
                            </TD>
                            <TD style="border-top: 0pt; padding-top: 0pt; border-right: 0pt; border-left: 0pt; padding-left: 0pt; vertical-align: bottom; padding-bottom: 0pt; border-bottom: 0pt; padding-right: 0pt; ">
                                <P style="margin-left: 0pt; font-size: 1pt; line-height: 1pt; margin-top: 0pt; margin-bottom: 0; margin-right: 0pt; ">&#8203;</P>
                            </TD>
                            <TD style="border-top: 0pt; padding-top: 1pt; border-right: 0pt; border-left: 0pt; padding-left: 0pt; vertical-align: bottom; padding-bottom: 1pt; border-bottom: 0pt; padding-right: 0pt; ">
                                <P style="margin-left: 11.25pt; color: #000000; text-indent: -11.25pt; font-size: 9pt; font-family: Arial, sans-serif; line-height: normal; margin-top: 0; margin-bottom: 0; text-align: left; margin-right: 0pt; "><FONT>CenterPoint Energy, Inc., 6.85% to 02/15/35 then <br>T5Y + 2.946%, 02/15/55, Series B </FONT></P>
                            </TD>
                            <TD style="border-top: 0pt; padding-top: 1pt; border-right: 0pt; border-left: 0pt; padding-left: 0pt; vertical-align: bottom; padding-bottom: 1pt; border-bottom: 0pt; padding-right: 0pt; ">
                                <P style="margin-left: 0pt; color: #000000; font-size: 9pt; font-family: Arial, sans-serif; line-height: normal; margin-top: 0; margin-bottom: 0; text-align: right; margin-right: 0pt; "><A name="pfd-nportex_083125a1257"></A><FONT>&#160;803,750</FONT></P>
                            </TD>
                            <TD style="border-top: 0pt; padding-top: 1pt; border-right: 0pt; border-left: 0pt; padding-left: 0pt; vertical-align: bottom; padding-bottom: 1pt; border-bottom: 0pt; padding-right: 0pt; ">
                                <P style="margin-left: 0pt; color: #000000; text-indent: 0pt; font-size: 9pt; font-family: Arial, sans-serif; line-height: normal; margin-top: 0; margin-bottom: 0; text-align: left; margin-right: 0pt; "><SUP style="font-size: 7.0pt; line-height: 7.0pt; ">(2)</SUP><FONT>&#160;</FONT></P>
                            </TD>
                        </TR>
                        <TR style="min-height: 3pt; ">
                            <TD style="background-color: #cceeff; border-top: 0pt; padding-top: 1pt; border-right: 0pt; border-left: 0pt; padding-left: 0pt; vertical-align: top; padding-bottom: 1pt; border-bottom: 0pt; padding-right: 0pt; ">
                                <P style="margin-left: 0pt; color: #000000; font-size: 9pt; font-family: Arial, sans-serif; line-height: normal; margin-top: 0; margin-bottom: 0; text-align: right; margin-right: 0pt; "><FONT style="float: left; "><FONT>$</FONT></FONT><FONT style="float: right; "><FONT>380,000</FONT></FONT><FONT style="font-size: 9pt; ">&#8203;</FONT>                                    <BR clear="all"></P>
                            </TD>
                            <TD style="background-color: #cceeff; border-top: 0pt; padding-top: 0pt; border-right: 0pt; border-left: 0pt; padding-left: 0pt; vertical-align: bottom; padding-bottom: 0pt; border-bottom: 0pt; padding-right: 0pt; ">
                                <P style="margin-left: 0pt; font-size: 1pt; line-height: 1pt; margin-top: 0pt; margin-bottom: 0; margin-right: 0pt; ">&#8203;</P>
                            </TD>
                            <TD style="background-color: #cceeff; border-top: 0pt; padding-top: 1pt; border-right: 0pt; border-left: 0pt; padding-left: 0pt; vertical-align: bottom; padding-bottom: 1pt; border-bottom: 0pt; padding-right: 0pt; ">
                                <P style="margin-left: 11.25pt; color: #000000; text-indent: -11.25pt; font-size: 9pt; font-family: Arial, sans-serif; line-height: normal; margin-top: 0; margin-bottom: 0; text-align: left; margin-right: 0pt; "><FONT>CMS Energy Corporation, 6.50% to 06/01/35 then T5Y + 1.961%, 06/01/55 </FONT></P>
                            </TD>
                            <TD style="background-color: #cceeff; border-top: 0pt; padding-top: 1pt; border-right: 0pt; border-left: 0pt; padding-left: 0pt; vertical-align: bottom; padding-bottom: 1pt; border-bottom: 0pt; padding-right: 0pt; ">
                                <P style="margin-left: 0pt; color: #000000; font-size: 9pt; font-family: Arial, sans-serif; line-height: normal; margin-top: 0; margin-bottom: 0; text-align: right; margin-right: 0pt; "><A name="pfd-nportex_083125a1258"></A><FONT>&#160;388,566</FONT></P>
                            </TD>
                            <TD style="background-color: #cceeff; border-top: 0pt; padding-top: 0pt; border-right: 0pt; border-left: 0pt; padding-left: 0pt; vertical-align: bottom; padding-bottom: 0pt; border-bottom: 0pt; padding-right: 0pt; ">
                                <P style="margin-left: 0pt; font-size: 1pt; line-height: 1pt; margin-top: 0pt; margin-bottom: 0; margin-right: 0pt; ">&#8203;</P>
                            </TD>
                        </TR>
                        <TR style="min-height: 3pt; ">
                            <TD style="border-top: 0pt; padding-top: 1pt; border-right: 0pt; border-left: 0pt; padding-left: 0pt; vertical-align: top; padding-bottom: 1pt; border-bottom: 0pt; padding-right: 0pt; ">
                                <P style="margin-left: 0pt; color: #000000; font-size: 9pt; font-family: Arial, sans-serif; line-height: normal; margin-top: 0; margin-bottom: 0; text-align: right; margin-right: 0pt; "><FONT>&#160;</FONT></P>
                            </TD>
                            <TD style="border-top: 0pt; padding-top: 0pt; border-right: 0pt; border-left: 0pt; padding-left: 0pt; vertical-align: bottom; padding-bottom: 0pt; border-bottom: 0pt; padding-right: 0pt; ">
                                <P style="margin-left: 0pt; font-size: 1pt; line-height: 1pt; margin-top: 0pt; margin-bottom: 0; margin-right: 0pt; ">&#8203;</P>
                            </TD>
                            <TD style="border-top: 0pt; padding-top: 1pt; border-right: 0pt; border-left: 0pt; padding-left: 0pt; vertical-align: bottom; padding-bottom: 1pt; border-bottom: 0pt; padding-right: 0pt; ">
                                <P style="margin-left: 11.25pt; color: #000000; text-indent: -11.25pt; font-size: 9pt; font-family: Arial, sans-serif; line-height: normal; margin-top: 0; margin-bottom: 0; text-align: left; margin-right: 0pt; "><FONT>Commonwealth Edison:</FONT></P>
                            </TD>
                            <TD style="border-top: 0pt; padding-top: 0pt; border-right: 0pt; border-left: 0pt; padding-left: 0pt; vertical-align: bottom; padding-bottom: 0pt; border-bottom: 0pt; padding-right: 0pt; ">
                                <P style="margin-left: 0pt; font-size: 1pt; line-height: 1pt; margin-top: 0pt; margin-bottom: 0; margin-right: 0pt; ">&#8203;</P>
                            </TD>
                            <TD style="border-top: 0pt; padding-top: 0pt; border-right: 0pt; border-left: 0pt; padding-left: 0pt; vertical-align: bottom; padding-bottom: 0pt; border-bottom: 0pt; padding-right: 0pt; ">
                                <P style="margin-left: 0pt; font-size: 1pt; line-height: 1pt; margin-top: 0pt; margin-bottom: 0; margin-right: 0pt; ">&#8203;</P>
                            </TD>
                        </TR>
                        <TR style="min-height: 3pt; ">
                            <TD style="background-color: #cceeff; border-top: 0pt; padding-top: 1pt; border-right: 0pt; border-left: 0pt; padding-left: 0pt; vertical-align: top; padding-bottom: 1pt; border-bottom: 0pt; padding-right: 0pt; ">
                                <P style="margin-left: 0pt; color: #000000; font-size: 9pt; font-family: Arial, sans-serif; line-height: normal; margin-top: 0; margin-bottom: 0; text-align: right; margin-right: 0pt; "><FONT style="float: left; "><FONT>$</FONT></FONT><FONT style="float: right; "><FONT>1,163,000</FONT></FONT><FONT style="font-size: 9pt; ">&#8203;</FONT>                                    <BR clear="all"></P>
                            </TD>
                            <TD style="background-color: #cceeff; border-top: 0pt; padding-top: 0pt; border-right: 0pt; border-left: 0pt; padding-left: 0pt; vertical-align: bottom; padding-bottom: 0pt; border-bottom: 0pt; padding-right: 0pt; ">
                                <P style="margin-left: 0pt; font-size: 1pt; line-height: 1pt; margin-top: 0pt; margin-bottom: 0; margin-right: 0pt; ">&#8203;</P>
                            </TD>
                            <TD style="background-color: #cceeff; border-top: 0pt; padding-top: 1pt; border-right: 0pt; border-left: 0pt; padding-left: 0pt; vertical-align: bottom; padding-bottom: 1pt; border-bottom: 0pt; padding-right: 0pt; ">
                                <P style="margin-left: 22.5pt; color: #000000; text-indent: -11.25pt; font-size: 9pt; font-family: Arial, sans-serif; line-height: normal; margin-top: 0; margin-bottom: 0; text-align: left; margin-right: 0pt; "><FONT>COMED Financing III, 6.35% 03/15/33 </FONT></P>
                            </TD>
                            <TD style="background-color: #cceeff; border-top: 0pt; padding-top: 1pt; border-right: 0pt; border-left: 0pt; padding-left: 0pt; vertical-align: bottom; padding-bottom: 1pt; border-bottom: 0pt; padding-right: 0pt; ">
                                <P style="margin-left: 0pt; color: #000000; font-size: 9pt; font-family: Arial, sans-serif; line-height: normal; margin-top: 0; margin-bottom: 0; text-align: right; margin-right: 0pt; "><A name="pfd-nportex_083125a1259"></A><FONT>&#160;1,198,832</FONT></P>
                            </TD>
                            <TD style="background-color: #cceeff; border-top: 0pt; padding-top: 1pt; border-right: 0pt; border-left: 0pt; padding-left: 0pt; vertical-align: bottom; padding-bottom: 1pt; border-bottom: 0pt; padding-right: 0pt; ">
                                <P style="margin-left: 0pt; color: #000000; text-indent: 0pt; font-size: 9pt; font-family: Arial, sans-serif; line-height: normal; margin-top: 0; margin-bottom: 0; text-align: left; margin-right: 0pt; "><SUP style="font-size: 7.0pt; line-height: 7.0pt; ">(2)(3)</SUP><FONT>&#160;</FONT></P>
                            </TD>
                        </TR>
                        <TR style="min-height: 3pt; ">
                            <TD style="border-top: 0pt; padding-top: 1pt; border-right: 0pt; border-left: 0pt; padding-left: 0pt; vertical-align: top; padding-bottom: 1pt; border-bottom: 0pt; padding-right: 0pt; ">
                                <P style="margin-left: 0pt; color: #000000; font-size: 9pt; font-family: Arial, sans-serif; line-height: normal; margin-top: 0; margin-bottom: 0; text-align: right; margin-right: 0pt; "><FONT>&#160;</FONT></P>
                            </TD>
                            <TD style="border-top: 0pt; padding-top: 0pt; border-right: 0pt; border-left: 0pt; padding-left: 0pt; vertical-align: bottom; padding-bottom: 0pt; border-bottom: 0pt; padding-right: 0pt; ">
                                <P style="margin-left: 0pt; font-size: 1pt; line-height: 1pt; margin-top: 0pt; margin-bottom: 0; margin-right: 0pt; ">&#8203;</P>
                            </TD>
                            <TD style="border-top: 0pt; padding-top: 1pt; border-right: 0pt; border-left: 0pt; padding-left: 0pt; vertical-align: bottom; padding-bottom: 1pt; border-bottom: 0pt; padding-right: 0pt; ">
                                <P style="margin-left: 11.25pt; color: #000000; text-indent: -11.25pt; font-size: 9pt; font-family: Arial, sans-serif; line-height: normal; margin-top: 0; margin-bottom: 0; text-align: left; margin-right: 0pt; "><FONT>Dominion Energy, Inc.:</FONT></P>
                            </TD>
                            <TD style="border-top: 0pt; padding-top: 0pt; border-right: 0pt; border-left: 0pt; padding-left: 0pt; vertical-align: bottom; padding-bottom: 0pt; border-bottom: 0pt; padding-right: 0pt; ">
                                <P style="margin-left: 0pt; font-size: 1pt; line-height: 1pt; margin-top: 0pt; margin-bottom: 0; margin-right: 0pt; ">&#8203;</P>
                            </TD>
                            <TD style="border-top: 0pt; padding-top: 0pt; border-right: 0pt; border-left: 0pt; padding-left: 0pt; vertical-align: bottom; padding-bottom: 0pt; border-bottom: 0pt; padding-right: 0pt; ">
                                <P style="margin-left: 0pt; font-size: 1pt; line-height: 1pt; margin-top: 0pt; margin-bottom: 0; margin-right: 0pt; ">&#8203;</P>
                            </TD>
                        </TR>
                        <TR style="min-height: 3pt; ">
                            <TD style="background-color: #cceeff; border-top: 0pt; padding-top: 1pt; border-right: 0pt; border-left: 0pt; padding-left: 0pt; vertical-align: top; padding-bottom: 1pt; border-bottom: 0pt; padding-right: 0pt; ">
                                <P style="margin-left: 0pt; color: #000000; font-size: 9pt; font-family: Arial, sans-serif; line-height: normal; margin-top: 0; margin-bottom: 0; text-align: right; margin-right: 0pt; "><FONT style="float: left; "><FONT>$</FONT></FONT><FONT style="float: right; "><FONT>565,000</FONT></FONT><FONT style="font-size: 9pt; ">&#8203;</FONT>                                    <BR clear="all"></P>
                            </TD>
                            <TD style="background-color: #cceeff; border-top: 0pt; padding-top: 0pt; border-right: 0pt; border-left: 0pt; padding-left: 0pt; vertical-align: bottom; padding-bottom: 0pt; border-bottom: 0pt; padding-right: 0pt; ">
                                <P style="margin-left: 0pt; font-size: 1pt; line-height: 1pt; margin-top: 0pt; margin-bottom: 0; margin-right: 0pt; ">&#8203;</P>
                            </TD>
                            <TD style="background-color: #cceeff; border-top: 0pt; padding-top: 1pt; border-right: 0pt; border-left: 0pt; padding-left: 0pt; vertical-align: bottom; padding-bottom: 1pt; border-bottom: 0pt; padding-right: 0pt; ">
                                <P style="margin-left: 22.5pt; color: #000000; text-indent: -11.25pt; font-size: 9pt; font-family: Arial, sans-serif; line-height: normal; margin-top: 0; margin-bottom: 0; text-align: left; margin-right: 0pt; "><FONT>4.35% to 04/15/27 then T5Y + 3.195%, Series C </FONT></P>
                            </TD>
                            <TD style="background-color: #cceeff; border-top: 0pt; padding-top: 1pt; border-right: 0pt; border-left: 0pt; padding-left: 0pt; vertical-align: bottom; padding-bottom: 1pt; border-bottom: 0pt; padding-right: 0pt; ">
                                <P style="margin-left: 0pt; color: #000000; font-size: 9pt; font-family: Arial, sans-serif; line-height: normal; margin-top: 0; margin-bottom: 0; text-align: right; margin-right: 0pt; "><A name="pfd-nportex_083125a1260"></A><FONT>&#160;555,554</FONT></P>
                            </TD>
                            <TD style="background-color: #cceeff; border-top: 0pt; padding-top: 1pt; border-right: 0pt; border-left: 0pt; padding-left: 0pt; vertical-align: bottom; padding-bottom: 1pt; border-bottom: 0pt; padding-right: 0pt; ">
                                <P style="margin-left: 0pt; color: #000000; text-indent: 0pt; font-size: 9pt; font-family: Arial, sans-serif; line-height: normal; margin-top: 0; margin-bottom: 0; text-align: left; margin-right: 0pt; "><FONT>*</FONT><SUP style="font-size: 7.0pt; line-height: 7.0pt; ">(1)(2)</SUP><FONT>&#160;</FONT></P>
                            </TD>
                        </TR>
                        <TR style="min-height: 3pt; ">
                            <TD style="border-top: 0pt; padding-top: 1pt; border-right: 0pt; border-left: 0pt; padding-left: 0pt; vertical-align: top; padding-bottom: 1pt; border-bottom: 0pt; padding-right: 0pt; ">
                                <P style="margin-left: 0pt; color: #000000; font-size: 9pt; font-family: Arial, sans-serif; line-height: normal; margin-top: 0; margin-bottom: 0; text-align: right; margin-right: 0pt; "><FONT style="float: left; "><FONT>$</FONT></FONT><FONT style="float: right; "><FONT>855,000</FONT></FONT><FONT style="font-size: 9pt; ">&#8203;</FONT>                                    <BR clear="all"></P>
                            </TD>
                            <TD style="border-top: 0pt; padding-top: 0pt; border-right: 0pt; border-left: 0pt; padding-left: 0pt; vertical-align: bottom; padding-bottom: 0pt; border-bottom: 0pt; padding-right: 0pt; ">
                                <P style="margin-left: 0pt; font-size: 1pt; line-height: 1pt; margin-top: 0pt; margin-bottom: 0; margin-right: 0pt; ">&#8203;</P>
                            </TD>
                            <TD style="border-top: 0pt; padding-top: 1pt; border-right: 0pt; border-left: 0pt; padding-left: 0pt; vertical-align: bottom; padding-bottom: 1pt; border-bottom: 0pt; padding-right: 0pt; ">
                                <P style="margin-left: 22.5pt; color: #000000; text-indent: -11.25pt; font-size: 9pt; font-family: Arial, sans-serif; line-height: normal; margin-top: 0; margin-bottom: 0; text-align: left; margin-right: 0pt; "><FONT>6.625% to 05/15/35 then T5Y + 2.207%, 05/15/55, Series C </FONT></P>
                            </TD>
                            <TD style="border-top: 0pt; padding-top: 1pt; border-right: 0pt; border-left: 0pt; padding-left: 0pt; vertical-align: bottom; padding-bottom: 1pt; border-bottom: 0pt; padding-right: 0pt; ">
                                <P style="margin-left: 0pt; color: #000000; font-size: 9pt; font-family: Arial, sans-serif; line-height: normal; margin-top: 0; margin-bottom: 0; text-align: right; margin-right: 0pt; "><A name="pfd-nportex_083125a1261"></A><FONT>&#160;878,010</FONT></P>
                            </TD>
                            <TD style="border-top: 0pt; padding-top: 1pt; border-right: 0pt; border-left: 0pt; padding-left: 0pt; vertical-align: bottom; padding-bottom: 1pt; border-bottom: 0pt; padding-right: 0pt; ">
                                <P style="margin-left: 0pt; color: #000000; text-indent: 0pt; font-size: 9pt; font-family: Arial, sans-serif; line-height: normal; margin-top: 0; margin-bottom: 0; text-align: left; margin-right: 0pt; "><SUP style="font-size: 7.0pt; line-height: 7.0pt; ">(2)(3)</SUP><FONT>&#160;</FONT></P>
                            </TD>
                        </TR>
                        <TR style="min-height: 3pt; ">
                            <TD style="background-color: #cceeff; border-top: 0pt; padding-top: 1pt; border-right: 0pt; border-left: 0pt; padding-left: 0pt; vertical-align: top; padding-bottom: 1pt; border-bottom: 0pt; padding-right: 0pt; ">
                                <P style="margin-left: 0pt; color: #000000; font-size: 9pt; font-family: Arial, sans-serif; line-height: normal; margin-top: 0; margin-bottom: 0; text-align: right; margin-right: 0pt; "><FONT style="float: left; "><FONT>$</FONT></FONT><FONT style="float: right; "><FONT>1,325,000</FONT></FONT><FONT style="font-size: 9pt; ">&#8203;</FONT>                                    <BR clear="all"></P>
                            </TD>
                            <TD style="background-color: #cceeff; border-top: 0pt; padding-top: 0pt; border-right: 0pt; border-left: 0pt; padding-left: 0pt; vertical-align: bottom; padding-bottom: 0pt; border-bottom: 0pt; padding-right: 0pt; ">
                                <P style="margin-left: 0pt; font-size: 1pt; line-height: 1pt; margin-top: 0pt; margin-bottom: 0; margin-right: 0pt; ">&#8203;</P>
                            </TD>
                            <TD style="background-color: #cceeff; border-top: 0pt; padding-top: 1pt; border-right: 0pt; border-left: 0pt; padding-left: 0pt; vertical-align: bottom; padding-bottom: 1pt; border-bottom: 0pt; padding-right: 0pt; ">
                                <P style="margin-left: 22.5pt; color: #000000; text-indent: -11.25pt; font-size: 9pt; font-family: Arial, sans-serif; line-height: normal; margin-top: 0; margin-bottom: 0; text-align: left; margin-right: 0pt; "><FONT>7.00% to 06/01/34 then T5Y + 2.511%, 06/01/54, Series B </FONT></P>
                            </TD>
                            <TD style="background-color: #cceeff; border-top: 0pt; padding-top: 1pt; border-right: 0pt; border-left: 0pt; padding-left: 0pt; vertical-align: bottom; padding-bottom: 1pt; border-bottom: 0pt; padding-right: 0pt; ">
                                <P style="margin-left: 0pt; color: #000000; font-size: 9pt; font-family: Arial, sans-serif; line-height: normal; margin-top: 0; margin-bottom: 0; text-align: right; margin-right: 0pt; "><A name="pfd-nportex_083125a1262"></A><FONT>&#160;1,421,381</FONT></P>
                            </TD>
                            <TD style="background-color: #cceeff; border-top: 0pt; padding-top: 1pt; border-right: 0pt; border-left: 0pt; padding-left: 0pt; vertical-align: bottom; padding-bottom: 1pt; border-bottom: 0pt; padding-right: 0pt; ">
                                <P style="margin-left: 0pt; color: #000000; text-indent: 0pt; font-size: 9pt; font-family: Arial, sans-serif; line-height: normal; margin-top: 0; margin-bottom: 0; text-align: left; margin-right: 0pt; "><SUP style="font-size: 7.0pt; line-height: 7.0pt; ">(2)(3)</SUP><FONT>&#160;</FONT></P>
                            </TD>
                        </TR>
                        <TR style="min-height: 3pt; ">
                            <TD style="border-top: 0pt; padding-top: 1pt; border-right: 0pt; border-left: 0pt; padding-left: 0pt; vertical-align: top; padding-bottom: 1pt; border-bottom: 0pt; padding-right: 0pt; ">
                                <P style="margin-left: 0pt; color: #000000; font-size: 9pt; font-family: Arial, sans-serif; line-height: normal; margin-top: 0; margin-bottom: 0; text-align: right; margin-right: 0pt; "><FONT style="float: left; "><FONT>$</FONT></FONT><FONT style="float: right; "><FONT>965,000</FONT></FONT><FONT style="font-size: 9pt; ">&#8203;</FONT>                                    <BR clear="all"></P>
                            </TD>
                            <TD style="border-top: 0pt; padding-top: 0pt; border-right: 0pt; border-left: 0pt; padding-left: 0pt; vertical-align: bottom; padding-bottom: 0pt; border-bottom: 0pt; padding-right: 0pt; ">
                                <P style="margin-left: 0pt; font-size: 1pt; line-height: 1pt; margin-top: 0pt; margin-bottom: 0; margin-right: 0pt; ">&#8203;</P>
                            </TD>
                            <TD style="border-top: 0pt; padding-top: 1pt; border-right: 0pt; border-left: 0pt; padding-left: 0pt; vertical-align: bottom; padding-bottom: 1pt; border-bottom: 0pt; padding-right: 0pt; ">
                                <P style="margin-left: 11.25pt; color: #000000; text-indent: -11.25pt; font-size: 9pt; font-family: Arial, sans-serif; line-height: normal; margin-top: 0; margin-bottom: 0; text-align: left; margin-right: 0pt; "><FONT>Duke Energy Corporation, 6.45% to 09/01/34 then T5Y + 2.588%, 09/01/54 </FONT></P>
                            </TD>
                            <TD style="border-top: 0pt; padding-top: 1pt; border-right: 0pt; border-left: 0pt; padding-left: 0pt; vertical-align: bottom; padding-bottom: 1pt; border-bottom: 0pt; padding-right: 0pt; ">
                                <P style="margin-left: 0pt; color: #000000; font-size: 9pt; font-family: Arial, sans-serif; line-height: normal; margin-top: 0; margin-bottom: 0; text-align: right; margin-right: 0pt; "><A name="pfd-nportex_083125a1263"></A><FONT>&#160;1,001,547</FONT></P>
                            </TD>
                            <TD style="border-top: 0pt; padding-top: 1pt; border-right: 0pt; border-left: 0pt; padding-left: 0pt; vertical-align: bottom; padding-bottom: 1pt; border-bottom: 0pt; padding-right: 0pt; ">
                                <P style="margin-left: 0pt; color: #000000; text-indent: 0pt; font-size: 9pt; font-family: Arial, sans-serif; line-height: normal; margin-top: 0; margin-bottom: 0; text-align: left; margin-right: 0pt; "><SUP style="font-size: 7.0pt; line-height: 7.0pt; ">(2)</SUP><FONT>&#160;</FONT></P>
                            </TD>
                        </TR>
                        <TR style="min-height: 3pt; ">
                            <TD style="background-color: #cceeff; border-top: 0pt; padding-top: 1pt; border-right: 0pt; border-left: 0pt; padding-left: 0pt; vertical-align: top; padding-bottom: 1pt; border-bottom: 0pt; padding-right: 0pt; ">
                                <P style="margin-left: 0pt; color: #000000; font-size: 9pt; font-family: Arial, sans-serif; line-height: normal; margin-top: 0; margin-bottom: 0; text-align: right; margin-right: 0pt; "><FONT>&#160;</FONT></P>
                            </TD>
                            <TD style="background-color: #cceeff; border-top: 0pt; padding-top: 0pt; border-right: 0pt; border-left: 0pt; padding-left: 0pt; vertical-align: bottom; padding-bottom: 0pt; border-bottom: 0pt; padding-right: 0pt; ">
                                <P style="margin-left: 0pt; font-size: 1pt; line-height: 1pt; margin-top: 0pt; margin-bottom: 0; margin-right: 0pt; ">&#8203;</P>
                            </TD>
                            <TD style="background-color: #cceeff; border-top: 0pt; padding-top: 1pt; border-right: 0pt; border-left: 0pt; padding-left: 0pt; vertical-align: bottom; padding-bottom: 1pt; border-bottom: 0pt; padding-right: 0pt; ">
                                <P style="margin-left: 11.25pt; color: #000000; text-indent: -11.25pt; font-size: 9pt; font-family: Arial, sans-serif; line-height: normal; margin-top: 0; margin-bottom: 0; text-align: left; margin-right: 0pt; "><FONT>Edison International:</FONT></P>
                            </TD>
                            <TD style="background-color: #cceeff; border-top: 0pt; padding-top: 0pt; border-right: 0pt; border-left: 0pt; padding-left: 0pt; vertical-align: bottom; padding-bottom: 0pt; border-bottom: 0pt; padding-right: 0pt; ">
                                <P style="margin-left: 0pt; font-size: 1pt; line-height: 1pt; margin-top: 0pt; margin-bottom: 0; margin-right: 0pt; ">&#8203;</P>
                            </TD>
                            <TD style="background-color: #cceeff; border-top: 0pt; padding-top: 0pt; border-right: 0pt; border-left: 0pt; padding-left: 0pt; vertical-align: bottom; padding-bottom: 0pt; border-bottom: 0pt; padding-right: 0pt; ">
                                <P style="margin-left: 0pt; font-size: 1pt; line-height: 1pt; margin-top: 0pt; margin-bottom: 0; margin-right: 0pt; ">&#8203;</P>
                            </TD>
                        </TR>
                        <TR style="min-height: 3pt; ">
                            <TD style="border-top: 0pt; padding-top: 1pt; border-right: 0pt; border-left: 0pt; padding-left: 0pt; vertical-align: top; padding-bottom: 1pt; border-bottom: 0pt; padding-right: 0pt; ">
                                <P style="margin-left: 0pt; color: #000000; font-size: 9pt; font-family: Arial, sans-serif; line-height: normal; margin-top: 0; margin-bottom: 0; text-align: right; margin-right: 0pt; "><FONT style="float: left; "><FONT>$</FONT></FONT><FONT style="float: right; "><FONT>1,351,000</FONT></FONT><FONT style="font-size: 9pt; ">&#8203;</FONT>                                    <BR clear="all"></P>
                            </TD>
                            <TD style="border-top: 0pt; padding-top: 0pt; border-right: 0pt; border-left: 0pt; padding-left: 0pt; vertical-align: bottom; padding-bottom: 0pt; border-bottom: 0pt; padding-right: 0pt; ">
                                <P style="margin-left: 0pt; font-size: 1pt; line-height: 1pt; margin-top: 0pt; margin-bottom: 0; margin-right: 0pt; ">&#8203;</P>
                            </TD>
                            <TD style="border-top: 0pt; padding-top: 1pt; border-right: 0pt; border-left: 0pt; padding-left: 0pt; vertical-align: bottom; padding-bottom: 1pt; border-bottom: 0pt; padding-right: 0pt; ">
                                <P style="margin-left: 22.5pt; color: #000000; text-indent: -11.25pt; font-size: 9pt; font-family: Arial, sans-serif; line-height: normal; margin-top: 0; margin-bottom: 0; text-align: left; margin-right: 0pt; "><FONT>5.00% to 03/15/27 then T5Y + 3.901%, Series B </FONT></P>
                            </TD>
                            <TD style="border-top: 0pt; padding-top: 1pt; border-right: 0pt; border-left: 0pt; padding-left: 0pt; vertical-align: bottom; padding-bottom: 1pt; border-bottom: 0pt; padding-right: 0pt; ">
                                <P style="margin-left: 0pt; color: #000000; font-size: 9pt; font-family: Arial, sans-serif; line-height: normal; margin-top: 0; margin-bottom: 0; text-align: right; margin-right: 0pt; "><A name="pfd-nportex_083125a1264"></A><FONT>&#160;1,211,237</FONT></P>
                            </TD>
                            <TD style="border-top: 0pt; padding-top: 1pt; border-right: 0pt; border-left: 0pt; padding-left: 0pt; vertical-align: bottom; padding-bottom: 1pt; border-bottom: 0pt; padding-right: 0pt; ">
                                <P style="margin-left: 0pt; color: #000000; text-indent: 0pt; font-size: 9pt; font-family: Arial, sans-serif; line-height: normal; margin-top: 0; margin-bottom: 0; text-align: left; margin-right: 0pt; "><FONT>*</FONT><SUP style="font-size: 7.0pt; line-height: 7.0pt; ">(1)(2)(3)</SUP><FONT>&#160;</FONT></P>
                            </TD>
                        </TR>
                        <TR style="min-height: 3pt; ">
                            <TD style="background-color: #cceeff; border-top: 0pt; padding-top: 1pt; border-right: 0pt; border-left: 0pt; padding-left: 0pt; vertical-align: top; padding-bottom: 1pt; border-bottom: 0pt; padding-right: 0pt; ">
                                <P style="margin-left: 0pt; color: #000000; font-size: 9pt; font-family: Arial, sans-serif; line-height: normal; margin-top: 0; margin-bottom: 0; text-align: right; margin-right: 0pt; "><FONT style="float: left; "><FONT>$</FONT></FONT><FONT style="float: right; "><FONT>420,000</FONT></FONT><FONT style="font-size: 9pt; ">&#8203;</FONT>                                    <BR clear="all"></P>
                            </TD>
                            <TD style="background-color: #cceeff; border-top: 0pt; padding-top: 0pt; border-right: 0pt; border-left: 0pt; padding-left: 0pt; vertical-align: bottom; padding-bottom: 0pt; border-bottom: 0pt; padding-right: 0pt; ">
                                <P style="margin-left: 0pt; font-size: 1pt; line-height: 1pt; margin-top: 0pt; margin-bottom: 0; margin-right: 0pt; ">&#8203;</P>
                            </TD>
                            <TD style="background-color: #cceeff; border-top: 0pt; padding-top: 1pt; border-right: 0pt; border-left: 0pt; padding-left: 0pt; vertical-align: bottom; padding-bottom: 1pt; border-bottom: 0pt; padding-right: 0pt; ">
                                <P style="margin-left: 22.5pt; color: #000000; text-indent: -11.25pt; font-size: 9pt; font-family: Arial, sans-serif; line-height: normal; margin-top: 0; margin-bottom: 0; text-align: left; margin-right: 0pt; "><FONT>5.375% to 03/15/26 then T5Y + 4.698%, Series A </FONT></P>
                            </TD>
                            <TD style="background-color: #cceeff; border-top: 0pt; padding-top: 1pt; border-right: 0pt; border-left: 0pt; padding-left: 0pt; vertical-align: bottom; padding-bottom: 1pt; border-bottom: 0pt; padding-right: 0pt; ">
                                <P style="margin-left: 0pt; color: #000000; font-size: 9pt; font-family: Arial, sans-serif; line-height: normal; margin-top: 0; margin-bottom: 0; text-align: right; margin-right: 0pt; "><A name="pfd-nportex_083125a1265"></A><FONT>&#160;408,891</FONT></P>
                            </TD>
                            <TD style="background-color: #cceeff; border-top: 0pt; padding-top: 1pt; border-right: 0pt; border-left: 0pt; padding-left: 0pt; vertical-align: bottom; padding-bottom: 1pt; border-bottom: 0pt; padding-right: 0pt; ">
                                <P style="margin-left: 0pt; color: #000000; text-indent: 0pt; font-size: 9pt; font-family: Arial, sans-serif; line-height: normal; margin-top: 0; margin-bottom: 0; text-align: left; margin-right: 0pt; "><FONT>*</FONT><SUP style="font-size: 7.0pt; line-height: 7.0pt; ">(1)&#160;</SUP><FONT>&#160;</FONT></P>
                            </TD>
                        </TR>
                    </TABLE>
                </DIV>
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        </DIV>
        <DIV style="page-break-before: always; ">
            <P style="font-size: 5pt; margin: 0pt; ">&#8203;</P>
        </DIV>
        <DIV style="margin: auto; overflow: hidden; width: 675.0pt; position: relative; border-bottom: 2pt solid black; height: 765.0pt; ">
            <DIV style="border: 0pt; padding-top: 0pt; top: 697.5pt; left: 33.75pt; padding-left: 0pt; width: 607.5pt; padding-bottom: 0pt; position: absolute; padding-right: 0pt; height: 33.75pt; ">
                <DIV style="vertical-align: bottom; width: 607.5pt; display: table-cell; height: 33.75pt; ">
                    <!-- [if IE]><TABLE><TR style=" width: 607.5pt; height: 33.75pt;"><TD vAlign="bottom" style=" width: 607.5pt; height: 33.75pt;"><![endif]-->
                    <P style="margin-left: 0pt; color: #000000; text-indent: 0pt; font-size: 12pt; font-family: Times New Roman, Times, serif; margin-top: 0pt; margin-bottom: 0pt; text-align: center; margin-right: 0pt; "><FONT style="font-size: 8pt; font-family: Arial, sans-serif; "> <br></FONT><FONT style="font-size: 10pt; font-family: Arial, sans-serif; ">6</FONT></P>
                    <!-- [if IE]></TD></TR></TABLE><![endif]-->
                </DIV>
            </DIV>
            <DIV style="border: 0pt; padding-top: 0pt; top: 33.75pt; left: 33.75pt; padding-left: 0pt; width: 607.5pt; padding-bottom: 0pt; position: absolute; padding-right: 0pt; height: 86.25pt; ">
                <P style="border-top: 1pt solid ; color: #000000; font-size: 12pt; margin-right: 0pt; margin-left: 0pt; text-indent: 0pt; font-family: Times New Roman, Times, serif; margin-top: 0pt; margin-bottom: 0pt; "><FONT style="font-size: 8pt; font-family: Arial, sans-serif; ">&#160;</FONT></P>
                <P style="margin-left: 0pt; color: #000000; text-indent: 0pt; font-size: 12pt; font-family: Times New Roman, Times, serif; margin-top: 0pt; margin-bottom: 0pt; margin-right: 0pt; "><FONT style="font-size: 8pt; font-family: Arial, sans-serif; ">Flaherty &amp; Crumrine Preferred and Income Fund Incorporated</FONT></P>
                <P style="margin-left: 0pt; color: #000000; text-indent: 0pt; font-size: 12pt; font-family: Times New Roman, Times, serif; margin-top: 0pt; margin-bottom: 0pt; margin-right: 0pt; "><FONT style="font-family: Arial, sans-serif; ">PORTFOLIO OF INVESTMENTS (Continued)</FONT></P>
                <P style="margin-left: 0pt; color: #000000; text-indent: 0pt; font-size: 12pt; font-family: Times New Roman, Times, serif; margin-top: 0pt; margin-bottom: 0pt; margin-right: 0pt; "><FONT style="font-size: 10pt; font-family: Arial, sans-serif; ">August 31, 2025&#160;(Unaudited)</FONT></P>
                <P style="color: #000000; font-size: 12pt; border-bottom: 1pt solid ; margin-right: 0pt; margin-left: 0pt; text-indent: 0pt; font-family: Times New Roman, Times, serif; margin-top: 0pt; margin-bottom: 0pt; "><FONT style="font-size: 8pt; font-family: Arial, sans-serif; ">&#160;</FONT></P>
            </DIV>
            <DIV style="border: 0pt; padding-top: 0pt; top: 120pt; left: 33.75pt; padding-left: 0pt; width: 607.5pt; padding-bottom: 0pt; position: absolute; padding-right: 0pt; height: 577.5pt; ">
                <DIV style="margin-left: 0pt; color: #000000; font-size: 9pt; font-family: Arial, sans-serif; line-height: 11pt; margin-top: 0pt; margin-bottom: 0pt; text-align: justify; margin-right: 0pt; ">
                    <TABLE style="width: 623.75pt; margin-top: 0pt; margin-bottom: 0pt; table-layout: fixed; border-collapse: collapse; ">
                        <TR style="margin: 0; height: 0; ">
                            <TD style="border: 0; width: 68.75pt; padding: 0; margin: 0; ">
                            </TD>
                            <TD style="border: 0; width: 15.0pt; padding: 0; margin: 0; ">
                            </TD>
                            <TD style="border: 0; width: 412.5pt; padding: 0; margin: 0; ">
                            </TD>
                            <TD style="border: 0; width: 82.5pt; padding: 0; margin: 0; ">
                            </TD>
                            <TD style="border: 0; width: 45.0pt; padding: 0; margin: 0; ">
                            </TD>
                        </TR>
                        <TR style="min-height: 3pt; ">
                            <TD style="border-top: 0pt; padding-top: 1pt; border-right: 0pt; border-left: 0pt; padding-left: 0pt; vertical-align: bottom; padding-bottom: 1pt; border-bottom: 0.5pt solid #000000; padding-right: 0pt; ">
                                <P style="margin-left: 0pt; color: #000000; text-indent: 0pt; font-size: 8pt; font-family: Arial, sans-serif; line-height: normal; margin-top: 0; margin-bottom: 0; text-align: center; margin-right: 0pt; "><FONT style="font-weight: bold; "><B>Shares/$ Par</B></FONT></P>
                            </TD>
                            <TD style="border-top: 0pt; padding-top: 0pt; border-right: 0pt; border-left: 0pt; padding-left: 0pt; vertical-align: top; padding-bottom: 0pt; border-bottom: 0.5pt solid #000000; padding-right: 0pt; ">
                                <P style="margin-left: 0pt; font-size: 1pt; line-height: 1pt; margin-top: 0pt; margin-bottom: 0; margin-right: 0pt; ">&#8203;</P>
                            </TD>
                            <TD style="border-top: 0pt; padding-top: 0pt; border-right: 0pt; border-left: 0pt; padding-left: 0pt; vertical-align: bottom; padding-bottom: 0pt; border-bottom: 0.5pt solid #000000; padding-right: 0pt; ">
                                <P style="margin-left: 0pt; font-size: 1pt; line-height: 1pt; margin-top: 0pt; margin-bottom: 0; margin-right: 0pt; ">&#8203;</P>
                            </TD>
                            <TD style="border-top: 0pt; padding-top: 1pt; border-right: 0pt; border-left: 0pt; padding-left: 0pt; vertical-align: bottom; padding-bottom: 1pt; border-bottom: 0.5pt solid #000000; padding-right: 0pt; ">
                                <P style="margin-left: 0pt; color: #000000; text-indent: 0pt; font-size: 8pt; font-family: Arial, sans-serif; line-height: normal; margin-top: 0; margin-bottom: 0; text-align: center; margin-right: 0pt; "><FONT style="font-weight: bold; "><B>Value</B></FONT></P>
                            </TD>
                            <TD style="border-top: 0pt; padding-top: 0pt; border-right: 0pt; border-left: 0pt; padding-left: 0pt; vertical-align: bottom; padding-bottom: 0pt; border-bottom: 0pt; padding-right: 0pt; ">
                                <P style="margin-left: 0pt; font-size: 1pt; line-height: 1pt; margin-top: 0pt; margin-bottom: 0; margin-right: 0pt; ">&#8203;</P>
                            </TD>
                        </TR>
                        <TR style="min-height: 3pt; ">
                            <TD style="border-top: 0pt; padding-top: 1pt; border-right: 0pt; border-left: 0pt; padding-left: 0pt; vertical-align: top; padding-bottom: 1pt; border-bottom: 0pt; padding-right: 0pt; ">
                                <P style="margin-left: 0pt; color: #000000; font-size: 9pt; font-family: Arial, sans-serif; line-height: normal; margin-top: 0; margin-bottom: 0; text-align: right; margin-right: 0pt; "><FONT>&#160;</FONT></P>
                            </TD>
                            <TD style="border-top: 0pt; padding-top: 0pt; border-right: 0pt; border-left: 0pt; padding-left: 0pt; vertical-align: bottom; padding-bottom: 0pt; border-bottom: 0pt; padding-right: 0pt; ">
                                <P style="margin-left: 0pt; font-size: 1pt; line-height: 1pt; margin-top: 0pt; margin-bottom: 0; margin-right: 0pt; ">&#8203;</P>
                            </TD>
                            <TD style="border-top: 0pt; padding-top: 1pt; border-right: 0pt; border-left: 0pt; padding-left: 0pt; vertical-align: bottom; padding-bottom: 1pt; border-bottom: 0pt; padding-right: 0pt; ">
                                <P style="margin-left: 11.25pt; color: #000000; text-indent: -11.25pt; font-size: 9pt; font-family: Arial, sans-serif; line-height: normal; margin-top: 0; margin-bottom: 0; text-align: left; margin-right: 0pt; "><FONT>Emera, Inc.:</FONT></P>
                            </TD>
                            <TD style="border-top: 0pt; padding-top: 0pt; border-right: 0pt; border-left: 0pt; padding-left: 0pt; vertical-align: bottom; padding-bottom: 0pt; border-bottom: 0pt; padding-right: 0pt; ">
                                <P style="margin-left: 0pt; font-size: 1pt; line-height: 1pt; margin-top: 0pt; margin-bottom: 0; margin-right: 0pt; ">&#8203;</P>
                            </TD>
                            <TD style="border-top: 0pt; padding-top: 0pt; border-right: 0pt; border-left: 0pt; padding-left: 0pt; vertical-align: bottom; padding-bottom: 0pt; border-bottom: 0pt; padding-right: 0pt; ">
                                <P style="margin-left: 0pt; font-size: 1pt; line-height: 1pt; margin-top: 0pt; margin-bottom: 0; margin-right: 0pt; ">&#8203;</P>
                            </TD>
                        </TR>
                        <TR style="min-height: 3pt; ">
                            <TD style="background-color: #cceeff; border-top: 0pt; padding-top: 1pt; border-right: 0pt; border-left: 0pt; padding-left: 0pt; vertical-align: top; padding-bottom: 1pt; border-bottom: 0pt; padding-right: 0pt; ">
                                <P style="margin-left: 0pt; color: #000000; font-size: 9pt; font-family: Arial, sans-serif; line-height: normal; margin-top: 0; margin-bottom: 0; text-align: right; margin-right: 0pt; "><FONT style="float: left; "><FONT>$</FONT></FONT><FONT style="float: right; "><FONT>2,180,000</FONT></FONT><FONT style="font-size: 9pt; ">&#8203;</FONT>                                    <BR clear="all"></P>
                            </TD>
                            <TD style="background-color: #cceeff; border-top: 0pt; padding-top: 0pt; border-right: 0pt; border-left: 0pt; padding-left: 0pt; vertical-align: bottom; padding-bottom: 0pt; border-bottom: 0pt; padding-right: 0pt; ">
                                <P style="margin-left: 0pt; font-size: 1pt; line-height: 1pt; margin-top: 0pt; margin-bottom: 0; margin-right: 0pt; ">&#8203;</P>
                            </TD>
                            <TD style="background-color: #cceeff; border-top: 0pt; padding-top: 1pt; border-right: 0pt; border-left: 0pt; padding-left: 0pt; vertical-align: bottom; padding-bottom: 1pt; border-bottom: 0pt; padding-right: 0pt; ">
                                <P style="margin-left: 22.5pt; color: #000000; text-indent: -11.25pt; font-size: 9pt; font-family: Arial, sans-serif; line-height: normal; margin-top: 0; margin-bottom: 0; text-align: left; margin-right: 0pt; "><FONT>6.75% to 06/15/26 then 3ML + 5.44%, 06/15/76, Series 2016-A </FONT></P>
                            </TD>
                            <TD style="background-color: #cceeff; border-top: 0pt; padding-top: 1pt; border-right: 0pt; border-left: 0pt; padding-left: 0pt; vertical-align: bottom; padding-bottom: 1pt; border-bottom: 0pt; padding-right: 0pt; ">
                                <P style="margin-left: 0pt; color: #000000; font-size: 9pt; font-family: Arial, sans-serif; line-height: normal; margin-top: 0; margin-bottom: 0; text-align: right; margin-right: 0pt; "><FONT style="float: left; "><FONT>$</FONT></FONT><FONT style="float: right; "><A name="pfd-nportex_083125a1266"></A><FONT>&#160;2,199,136</FONT></FONT><FONT style="font-size: 9pt; ">&#8203;</FONT>                                    <BR clear="all"></P>
                            </TD>
                            <TD style="background-color: #cceeff; border-top: 0pt; padding-top: 1pt; border-right: 0pt; border-left: 0pt; padding-left: 0pt; vertical-align: bottom; padding-bottom: 1pt; border-bottom: 0pt; padding-right: 0pt; ">
                                <P style="margin-left: 0pt; color: #000000; text-indent: 0pt; font-size: 9pt; font-family: Arial, sans-serif; line-height: normal; margin-top: 0; margin-bottom: 0; text-align: left; margin-right: 0pt; "><SUP style="font-size: 7.0pt; line-height: 7.0pt; ">(2)(5)</SUP><FONT>&#160;</FONT></P>
                            </TD>
                        </TR>
                        <TR style="min-height: 3pt; ">
                            <TD style="border-top: 0pt; padding-top: 1pt; border-right: 0pt; border-left: 0pt; padding-left: 0pt; vertical-align: top; padding-bottom: 1pt; border-bottom: 0pt; padding-right: 0pt; ">
                                <P style="margin-left: 0pt; color: #000000; font-size: 9pt; font-family: Arial, sans-serif; line-height: normal; margin-top: 0; margin-bottom: 0; text-align: right; margin-right: 0pt; "><FONT style="float: left; "><FONT>$</FONT></FONT><FONT style="float: right; "><FONT>1,175,000</FONT></FONT><FONT style="font-size: 9pt; ">&#8203;</FONT>                                    <BR clear="all"></P>
                            </TD>
                            <TD style="border-top: 0pt; padding-top: 0pt; border-right: 0pt; border-left: 0pt; padding-left: 0pt; vertical-align: bottom; padding-bottom: 0pt; border-bottom: 0pt; padding-right: 0pt; ">
                                <P style="margin-left: 0pt; font-size: 1pt; line-height: 1pt; margin-top: 0pt; margin-bottom: 0; margin-right: 0pt; ">&#8203;</P>
                            </TD>
                            <TD style="border-top: 0pt; padding-top: 1pt; border-right: 0pt; border-left: 0pt; padding-left: 0pt; vertical-align: bottom; padding-bottom: 1pt; border-bottom: 0pt; padding-right: 0pt; ">
                                <P style="margin-left: 22.5pt; color: #000000; text-indent: -11.25pt; font-size: 9pt; font-family: Arial, sans-serif; line-height: normal; margin-top: 0; margin-bottom: 0; text-align: left; margin-right: 0pt; "><FONT>EUSHI Finance, Inc., 7.625% to 12/15/29 then T5Y + 3.136%, 12/15/54 </FONT></P>
                            </TD>
                            <TD style="border-top: 0pt; padding-top: 1pt; border-right: 0pt; border-left: 0pt; padding-left: 0pt; vertical-align: bottom; padding-bottom: 1pt; border-bottom: 0pt; padding-right: 0pt; ">
                                <P style="margin-left: 0pt; color: #000000; font-size: 9pt; font-family: Arial, sans-serif; line-height: normal; margin-top: 0; margin-bottom: 0; text-align: right; margin-right: 0pt; "><A name="pfd-nportex_083125a1267"></A><FONT>&#160;1,230,576</FONT></P>
                            </TD>
                            <TD style="border-top: 0pt; padding-top: 1pt; border-right: 0pt; border-left: 0pt; padding-left: 0pt; vertical-align: bottom; padding-bottom: 1pt; border-bottom: 0pt; padding-right: 0pt; ">
                                <P style="margin-left: 0pt; color: #000000; text-indent: 0pt; font-size: 9pt; font-family: Arial, sans-serif; line-height: normal; margin-top: 0; margin-bottom: 0; text-align: left; margin-right: 0pt; "><SUP style="font-size: 7.0pt; line-height: 7.0pt; ">(2)(3)</SUP><FONT>&#160;</FONT></P>
                            </TD>
                        </TR>
                        <TR style="min-height: 3pt; ">
                            <TD style="background-color: #cceeff; border-top: 0pt; padding-top: 1pt; border-right: 0pt; border-left: 0pt; padding-left: 0pt; vertical-align: top; padding-bottom: 1pt; border-bottom: 0pt; padding-right: 0pt; ">
                                <P style="margin-left: 0pt; color: #000000; font-size: 9pt; font-family: Arial, sans-serif; line-height: normal; margin-top: 0; margin-bottom: 0; text-align: right; margin-right: 0pt; "><FONT style="float: left; "><FONT>$</FONT></FONT><FONT style="float: right; "><FONT>1,090,000</FONT></FONT><FONT style="font-size: 9pt; ">&#8203;</FONT>                                    <BR clear="all"></P>
                            </TD>
                            <TD style="background-color: #cceeff; border-top: 0pt; padding-top: 0pt; border-right: 0pt; border-left: 0pt; padding-left: 0pt; vertical-align: bottom; padding-bottom: 0pt; border-bottom: 0pt; padding-right: 0pt; ">
                                <P style="margin-left: 0pt; font-size: 1pt; line-height: 1pt; margin-top: 0pt; margin-bottom: 0; margin-right: 0pt; ">&#8203;</P>
                            </TD>
                            <TD style="background-color: #cceeff; border-top: 0pt; padding-top: 1pt; border-right: 0pt; border-left: 0pt; padding-left: 0pt; vertical-align: bottom; padding-bottom: 1pt; border-bottom: 0pt; padding-right: 0pt; ">
                                <P style="margin-left: 11.25pt; color: #000000; text-indent: -11.25pt; font-size: 9pt; font-family: Arial, sans-serif; line-height: normal; margin-top: 0; margin-bottom: 0; text-align: left; margin-right: 0pt; "><FONT>Entergy Corporation, 7.125% to 12/01/29 then T5Y + 2.67%, 12/01/54 </FONT></P>
                            </TD>
                            <TD style="background-color: #cceeff; border-top: 0pt; padding-top: 1pt; border-right: 0pt; border-left: 0pt; padding-left: 0pt; vertical-align: bottom; padding-bottom: 1pt; border-bottom: 0pt; padding-right: 0pt; ">
                                <P style="margin-left: 0pt; color: #000000; font-size: 9pt; font-family: Arial, sans-serif; line-height: normal; margin-top: 0; margin-bottom: 0; text-align: right; margin-right: 0pt; "><A name="pfd-nportex_083125a1268"></A><FONT>&#160;1,137,909</FONT></P>
                            </TD>
                            <TD style="background-color: #cceeff; border-top: 0pt; padding-top: 1pt; border-right: 0pt; border-left: 0pt; padding-left: 0pt; vertical-align: bottom; padding-bottom: 1pt; border-bottom: 0pt; padding-right: 0pt; ">
                                <P style="margin-left: 0pt; color: #000000; text-indent: 0pt; font-size: 9pt; font-family: Arial, sans-serif; line-height: normal; margin-top: 0; margin-bottom: 0; text-align: left; margin-right: 0pt; "><SUP style="font-size: 7.0pt; line-height: 7.0pt; ">(2)(3)</SUP><FONT>&#160;</FONT></P>
                            </TD>
                        </TR>
                        <TR style="min-height: 3pt; ">
                            <TD style="border-top: 0pt; padding-top: 1pt; border-right: 0pt; border-left: 0pt; padding-left: 0pt; vertical-align: top; padding-bottom: 1pt; border-bottom: 0pt; padding-right: 0pt; ">
                                <P style="margin-left: 0pt; color: #000000; font-size: 9pt; font-family: Arial, sans-serif; line-height: normal; margin-top: 0; margin-bottom: 0; text-align: right; margin-right: 0pt; "><FONT style="float: left; "><FONT>$</FONT></FONT><FONT style="float: right; "><FONT>660,000</FONT></FONT><FONT style="font-size: 9pt; ">&#8203;</FONT>                                    <BR clear="all"></P>
                            </TD>
                            <TD style="border-top: 0pt; padding-top: 0pt; border-right: 0pt; border-left: 0pt; padding-left: 0pt; vertical-align: bottom; padding-bottom: 0pt; border-bottom: 0pt; padding-right: 0pt; ">
                                <P style="margin-left: 0pt; font-size: 1pt; line-height: 1pt; margin-top: 0pt; margin-bottom: 0; margin-right: 0pt; ">&#8203;</P>
                            </TD>
                            <TD style="border-top: 0pt; padding-top: 1pt; border-right: 0pt; border-left: 0pt; padding-left: 0pt; vertical-align: bottom; padding-bottom: 1pt; border-bottom: 0pt; padding-right: 0pt; ">
                                <P style="margin-left: 11.25pt; color: #000000; text-indent: -11.25pt; font-size: 9pt; font-family: Arial, sans-serif; line-height: normal; margin-top: 0; margin-bottom: 0; text-align: left; margin-right: 0pt; "><FONT>Evergy, Inc., 6.65% to 06/01/30 then T5Y + 2.558%, 06/01/55 </FONT></P>
                            </TD>
                            <TD style="border-top: 0pt; padding-top: 1pt; border-right: 0pt; border-left: 0pt; padding-left: 0pt; vertical-align: bottom; padding-bottom: 1pt; border-bottom: 0pt; padding-right: 0pt; ">
                                <P style="margin-left: 0pt; color: #000000; font-size: 9pt; font-family: Arial, sans-serif; line-height: normal; margin-top: 0; margin-bottom: 0; text-align: right; margin-right: 0pt; "><A name="pfd-nportex_083125a1269"></A><FONT>&#160;671,297</FONT></P>
                            </TD>
                            <TD style="border-top: 0pt; padding-top: 1pt; border-right: 0pt; border-left: 0pt; padding-left: 0pt; vertical-align: bottom; padding-bottom: 1pt; border-bottom: 0pt; padding-right: 0pt; ">
                                <P style="margin-left: 0pt; color: #000000; text-indent: 0pt; font-size: 9pt; font-family: Arial, sans-serif; line-height: normal; margin-top: 0; margin-bottom: 0; text-align: left; margin-right: 0pt; "><SUP style="font-size: 7.0pt; line-height: 7.0pt; ">(2)</SUP><FONT>&#160;</FONT></P>
                            </TD>
                        </TR>
                        <TR style="min-height: 3pt; ">
                            <TD style="background-color: #cceeff; border-top: 0pt; padding-top: 1pt; border-right: 0pt; border-left: 0pt; padding-left: 0pt; vertical-align: top; padding-bottom: 1pt; border-bottom: 0pt; padding-right: 0pt; ">
                                <P style="margin-left: 0pt; color: #000000; font-size: 9pt; font-family: Arial, sans-serif; line-height: normal; margin-top: 0; margin-bottom: 0; text-align: right; margin-right: 0pt; "><FONT style="float: left; "><FONT>$</FONT></FONT><FONT style="float: right; "><FONT>380,000</FONT></FONT><FONT style="font-size: 9pt; ">&#8203;</FONT>                                    <BR clear="all"></P>
                            </TD>
                            <TD style="background-color: #cceeff; border-top: 0pt; padding-top: 0pt; border-right: 0pt; border-left: 0pt; padding-left: 0pt; vertical-align: bottom; padding-bottom: 0pt; border-bottom: 0pt; padding-right: 0pt; ">
                                <P style="margin-left: 0pt; font-size: 1pt; line-height: 1pt; margin-top: 0pt; margin-bottom: 0; margin-right: 0pt; ">&#8203;</P>
                            </TD>
                            <TD style="background-color: #cceeff; border-top: 0pt; padding-top: 1pt; border-right: 0pt; border-left: 0pt; padding-left: 0pt; vertical-align: bottom; padding-bottom: 1pt; border-bottom: 0pt; padding-right: 0pt; ">
                                <P style="margin-left: 11.25pt; color: #000000; text-indent: -11.25pt; font-size: 9pt; font-family: Arial, sans-serif; line-height: normal; margin-top: 0; margin-bottom: 0; text-align: left; margin-right: 0pt; "><FONT>Exelon Corporation, 6.50% to 03/15/35 then T5Y + 1.975%, 03/15/55 </FONT></P>
                            </TD>
                            <TD style="background-color: #cceeff; border-top: 0pt; padding-top: 1pt; border-right: 0pt; border-left: 0pt; padding-left: 0pt; vertical-align: bottom; padding-bottom: 1pt; border-bottom: 0pt; padding-right: 0pt; ">
                                <P style="margin-left: 0pt; color: #000000; font-size: 9pt; font-family: Arial, sans-serif; line-height: normal; margin-top: 0; margin-bottom: 0; text-align: right; margin-right: 0pt; "><A name="pfd-nportex_083125a1270"></A><FONT>&#160;392,777</FONT></P>
                            </TD>
                            <TD style="background-color: #cceeff; border-top: 0pt; padding-top: 0pt; border-right: 0pt; border-left: 0pt; padding-left: 0pt; vertical-align: bottom; padding-bottom: 0pt; border-bottom: 0pt; padding-right: 0pt; ">
                                <P style="margin-left: 0pt; font-size: 1pt; line-height: 1pt; margin-top: 0pt; margin-bottom: 0; margin-right: 0pt; ">&#8203;</P>
                            </TD>
                        </TR>
                        <TR style="min-height: 3pt; ">
                            <TD style="border-top: 0pt; padding-top: 1pt; border-right: 0pt; border-left: 0pt; padding-left: 0pt; vertical-align: top; padding-bottom: 1pt; border-bottom: 0pt; padding-right: 0pt; ">
                                <P style="margin-left: 0pt; color: #000000; font-size: 9pt; font-family: Arial, sans-serif; line-height: normal; margin-top: 0; margin-bottom: 0; text-align: right; margin-right: 0pt; "><FONT style="float: left; "><FONT>$</FONT></FONT><FONT style="float: right; "><FONT>191,000</FONT></FONT><FONT style="font-size: 9pt; ">&#8203;</FONT>                                    <BR clear="all"></P>
                            </TD>
                            <TD style="border-top: 0pt; padding-top: 0pt; border-right: 0pt; border-left: 0pt; padding-left: 0pt; vertical-align: bottom; padding-bottom: 0pt; border-bottom: 0pt; padding-right: 0pt; ">
                                <P style="margin-left: 0pt; font-size: 1pt; line-height: 1pt; margin-top: 0pt; margin-bottom: 0; margin-right: 0pt; ">&#8203;</P>
                            </TD>
                            <TD style="border-top: 0pt; padding-top: 1pt; border-right: 0pt; border-left: 0pt; padding-left: 0pt; vertical-align: bottom; padding-bottom: 1pt; border-bottom: 0pt; padding-right: 0pt; ">
                                <P style="margin-left: 11.25pt; color: #000000; text-indent: -11.25pt; font-size: 9pt; font-family: Arial, sans-serif; line-height: normal; margin-top: 0; margin-bottom: 0; text-align: left; margin-right: 0pt; "><FONT>Nevada Power Company, 6.25% to 05/15/30 then T5Y + 1.936%, 05/15/55 </FONT></P>
                            </TD>
                            <TD style="border-top: 0pt; padding-top: 1pt; border-right: 0pt; border-left: 0pt; padding-left: 0pt; vertical-align: bottom; padding-bottom: 1pt; border-bottom: 0pt; padding-right: 0pt; ">
                                <P style="margin-left: 0pt; color: #000000; font-size: 9pt; font-family: Arial, sans-serif; line-height: normal; margin-top: 0; margin-bottom: 0; text-align: right; margin-right: 0pt; "><A name="pfd-nportex_083125a1271"></A><FONT>&#160;192,102</FONT></P>
                            </TD>
                            <TD style="border-top: 0pt; padding-top: 0pt; border-right: 0pt; border-left: 0pt; padding-left: 0pt; vertical-align: bottom; padding-bottom: 0pt; border-bottom: 0pt; padding-right: 0pt; ">
                                <P style="margin-left: 0pt; font-size: 1pt; line-height: 1pt; margin-top: 0pt; margin-bottom: 0; margin-right: 0pt; ">&#8203;</P>
                            </TD>
                        </TR>
                        <TR style="min-height: 3pt; ">
                            <TD style="background-color: #cceeff; border-top: 0pt; padding-top: 1pt; border-right: 0pt; border-left: 0pt; padding-left: 0pt; vertical-align: top; padding-bottom: 1pt; border-bottom: 0pt; padding-right: 0pt; ">
                                <P style="margin-left: 0pt; color: #000000; font-size: 9pt; font-family: Arial, sans-serif; line-height: normal; margin-top: 0; margin-bottom: 0; text-align: right; margin-right: 0pt; "><FONT>&#160;</FONT></P>
                            </TD>
                            <TD style="background-color: #cceeff; border-top: 0pt; padding-top: 0pt; border-right: 0pt; border-left: 0pt; padding-left: 0pt; vertical-align: bottom; padding-bottom: 0pt; border-bottom: 0pt; padding-right: 0pt; ">
                                <P style="margin-left: 0pt; font-size: 1pt; line-height: 1pt; margin-top: 0pt; margin-bottom: 0; margin-right: 0pt; ">&#8203;</P>
                            </TD>
                            <TD style="background-color: #cceeff; border-top: 0pt; padding-top: 1pt; border-right: 0pt; border-left: 0pt; padding-left: 0pt; vertical-align: bottom; padding-bottom: 1pt; border-bottom: 0pt; padding-right: 0pt; ">
                                <P style="margin-left: 11.25pt; color: #000000; text-indent: -11.25pt; font-size: 9pt; font-family: Arial, sans-serif; line-height: normal; margin-top: 0; margin-bottom: 0; text-align: left; margin-right: 0pt; "><FONT>NextEra Energy:</FONT></P>
                            </TD>
                            <TD style="background-color: #cceeff; border-top: 0pt; padding-top: 0pt; border-right: 0pt; border-left: 0pt; padding-left: 0pt; vertical-align: bottom; padding-bottom: 0pt; border-bottom: 0pt; padding-right: 0pt; ">
                                <P style="margin-left: 0pt; font-size: 1pt; line-height: 1pt; margin-top: 0pt; margin-bottom: 0; margin-right: 0pt; ">&#8203;</P>
                            </TD>
                            <TD style="background-color: #cceeff; border-top: 0pt; padding-top: 0pt; border-right: 0pt; border-left: 0pt; padding-left: 0pt; vertical-align: bottom; padding-bottom: 0pt; border-bottom: 0pt; padding-right: 0pt; ">
                                <P style="margin-left: 0pt; font-size: 1pt; line-height: 1pt; margin-top: 0pt; margin-bottom: 0; margin-right: 0pt; ">&#8203;</P>
                            </TD>
                        </TR>
                        <TR style="min-height: 3pt; ">
                            <TD style="border-top: 0pt; padding-top: 1pt; border-right: 0pt; border-left: 0pt; padding-left: 0pt; vertical-align: top; padding-bottom: 1pt; border-bottom: 0pt; padding-right: 0pt; ">
                                <P style="margin-left: 0pt; color: #000000; font-size: 9pt; font-family: Arial, sans-serif; line-height: normal; margin-top: 0; margin-bottom: 0; text-align: right; margin-right: 0pt; "><FONT>&#160;</FONT></P>
                            </TD>
                            <TD style="border-top: 0pt; padding-top: 0pt; border-right: 0pt; border-left: 0pt; padding-left: 0pt; vertical-align: bottom; padding-bottom: 0pt; border-bottom: 0pt; padding-right: 0pt; ">
                                <P style="margin-left: 0pt; font-size: 1pt; line-height: 1pt; margin-top: 0pt; margin-bottom: 0; margin-right: 0pt; ">&#8203;</P>
                            </TD>
                            <TD style="border-top: 0pt; padding-top: 1pt; border-right: 0pt; border-left: 0pt; padding-left: 0pt; vertical-align: bottom; padding-bottom: 1pt; border-bottom: 0pt; padding-right: 0pt; ">
                                <P style="margin-left: 22.5pt; color: #000000; text-indent: -11.25pt; font-size: 9pt; font-family: Arial, sans-serif; line-height: normal; margin-top: 0; margin-bottom: 0; text-align: left; margin-right: 0pt; "><FONT>NextEra Energy Capital Holdings, Inc.:</FONT></P>
                            </TD>
                            <TD style="border-top: 0pt; padding-top: 0pt; border-right: 0pt; border-left: 0pt; padding-left: 0pt; vertical-align: bottom; padding-bottom: 0pt; border-bottom: 0pt; padding-right: 0pt; ">
                                <P style="margin-left: 0pt; font-size: 1pt; line-height: 1pt; margin-top: 0pt; margin-bottom: 0; margin-right: 0pt; ">&#8203;</P>
                            </TD>
                            <TD style="border-top: 0pt; padding-top: 0pt; border-right: 0pt; border-left: 0pt; padding-left: 0pt; vertical-align: bottom; padding-bottom: 0pt; border-bottom: 0pt; padding-right: 0pt; ">
                                <P style="margin-left: 0pt; font-size: 1pt; line-height: 1pt; margin-top: 0pt; margin-bottom: 0; margin-right: 0pt; ">&#8203;</P>
                            </TD>
                        </TR>
                        <TR style="min-height: 3pt; ">
                            <TD style="background-color: #cceeff; border-top: 0pt; padding-top: 1pt; border-right: 0pt; border-left: 0pt; padding-left: 0pt; vertical-align: top; padding-bottom: 1pt; border-bottom: 0pt; padding-right: 0pt; ">
                                <P style="margin-left: 0pt; color: #000000; font-size: 9pt; font-family: Arial, sans-serif; line-height: normal; margin-top: 0; margin-bottom: 0; text-align: right; margin-right: 0pt; "><FONT style="float: left; "><FONT>$</FONT></FONT><FONT style="float: right; "><FONT>640,000</FONT></FONT><FONT style="font-size: 9pt; ">&#8203;</FONT>                                    <BR clear="all"></P>
                            </TD>
                            <TD style="background-color: #cceeff; border-top: 0pt; padding-top: 0pt; border-right: 0pt; border-left: 0pt; padding-left: 0pt; vertical-align: bottom; padding-bottom: 0pt; border-bottom: 0pt; padding-right: 0pt; ">
                                <P style="margin-left: 0pt; font-size: 1pt; line-height: 1pt; margin-top: 0pt; margin-bottom: 0; margin-right: 0pt; ">&#8203;</P>
                            </TD>
                            <TD style="background-color: #cceeff; border-top: 0pt; padding-top: 1pt; border-right: 0pt; border-left: 0pt; padding-left: 0pt; vertical-align: bottom; padding-bottom: 1pt; border-bottom: 0pt; padding-right: 0pt; ">
                                <P style="margin-left: 33.75pt; color: #000000; text-indent: -11.25pt; font-size: 9pt; font-family: Arial, sans-serif; line-height: normal; margin-top: 0; margin-bottom: 0; text-align: left; margin-right: 0pt; "><FONT style="font-family: Arial, sans-serif; ">6.375% to 08/15/30 then T5Y + 2.053%, 08/15/55, Series S </FONT></P>
                            </TD>
                            <TD style="background-color: #cceeff; border-top: 0pt; padding-top: 1pt; border-right: 0pt; border-left: 0pt; padding-left: 0pt; vertical-align: bottom; padding-bottom: 1pt; border-bottom: 0pt; padding-right: 0pt; ">
                                <P style="margin-left: 0pt; color: #000000; font-size: 9pt; font-family: Arial, sans-serif; line-height: normal; margin-top: 0; margin-bottom: 0; text-align: right; margin-right: 0pt; "><A name="pfd-nportex_083125a1272"></A><FONT>&#160;661,364</FONT></P>
                            </TD>
                            <TD style="background-color: #cceeff; border-top: 0pt; padding-top: 0pt; border-right: 0pt; border-left: 0pt; padding-left: 0pt; vertical-align: bottom; padding-bottom: 0pt; border-bottom: 0pt; padding-right: 0pt; ">
                                <P style="margin-left: 0pt; font-size: 1pt; line-height: 1pt; margin-top: 0pt; margin-bottom: 0; margin-right: 0pt; ">&#8203;</P>
                            </TD>
                        </TR>
                        <TR style="min-height: 3pt; ">
                            <TD style="border-top: 0pt; padding-top: 1pt; border-right: 0pt; border-left: 0pt; padding-left: 0pt; vertical-align: top; padding-bottom: 1pt; border-bottom: 0pt; padding-right: 0pt; ">
                                <P style="margin-left: 0pt; color: #000000; font-size: 9pt; font-family: Arial, sans-serif; line-height: normal; margin-top: 0; margin-bottom: 0; text-align: right; margin-right: 0pt; "><FONT style="float: left; "><FONT>$</FONT></FONT><FONT style="float: right; "><FONT>400,000</FONT></FONT><FONT style="font-size: 9pt; ">&#8203;</FONT>                                    <BR clear="all"></P>
                            </TD>
                            <TD style="border-top: 0pt; padding-top: 0pt; border-right: 0pt; border-left: 0pt; padding-left: 0pt; vertical-align: bottom; padding-bottom: 0pt; border-bottom: 0pt; padding-right: 0pt; ">
                                <P style="margin-left: 0pt; font-size: 1pt; line-height: 1pt; margin-top: 0pt; margin-bottom: 0; margin-right: 0pt; ">&#8203;</P>
                            </TD>
                            <TD style="border-top: 0pt; padding-top: 1pt; border-right: 0pt; border-left: 0pt; padding-left: 0pt; vertical-align: bottom; padding-bottom: 1pt; border-bottom: 0pt; padding-right: 0pt; ">
                                <P style="margin-left: 33.75pt; color: #000000; text-indent: -11.25pt; font-size: 9pt; font-family: Arial, sans-serif; line-height: normal; margin-top: 0; margin-bottom: 0; text-align: left; margin-right: 0pt; "><FONT style="font-family: Arial, sans-serif; ">6.70% to 09/01/29 then T5Y + 2.364%, 09/01/54, Series Q </FONT></P>
                            </TD>
                            <TD style="border-top: 0pt; padding-top: 1pt; border-right: 0pt; border-left: 0pt; padding-left: 0pt; vertical-align: bottom; padding-bottom: 1pt; border-bottom: 0pt; padding-right: 0pt; ">
                                <P style="margin-left: 0pt; color: #000000; font-size: 9pt; font-family: Arial, sans-serif; line-height: normal; margin-top: 0; margin-bottom: 0; text-align: right; margin-right: 0pt; "><A name="pfd-nportex_083125a1273"></A><FONT>&#160;411,884</FONT></P>
                            </TD>
                            <TD style="border-top: 0pt; padding-top: 0pt; border-right: 0pt; border-left: 0pt; padding-left: 0pt; vertical-align: bottom; padding-bottom: 0pt; border-bottom: 0pt; padding-right: 0pt; ">
                                <P style="margin-left: 0pt; font-size: 1pt; line-height: 1pt; margin-top: 0pt; margin-bottom: 0; margin-right: 0pt; ">&#8203;</P>
                            </TD>
                        </TR>
                        <TR style="min-height: 3pt; ">
                            <TD style="background-color: #cceeff; border-top: 0pt; padding-top: 1pt; border-right: 0pt; border-left: 0pt; padding-left: 0pt; vertical-align: top; padding-bottom: 1pt; border-bottom: 0pt; padding-right: 0pt; ">
                                <P style="margin-left: 0pt; color: #000000; font-size: 9pt; font-family: Arial, sans-serif; line-height: normal; margin-top: 0; margin-bottom: 0; text-align: right; margin-right: 0pt; "><FONT style="float: left; "><FONT>$</FONT></FONT><FONT style="float: right; "><FONT>700,000</FONT></FONT><FONT style="font-size: 9pt; ">&#8203;</FONT>                                    <BR clear="all"></P>
                            </TD>
                            <TD style="background-color: #cceeff; border-top: 0pt; padding-top: 0pt; border-right: 0pt; border-left: 0pt; padding-left: 0pt; vertical-align: bottom; padding-bottom: 0pt; border-bottom: 0pt; padding-right: 0pt; ">
                                <P style="margin-left: 0pt; font-size: 1pt; line-height: 1pt; margin-top: 0pt; margin-bottom: 0; margin-right: 0pt; ">&#8203;</P>
                            </TD>
                            <TD style="background-color: #cceeff; border-top: 0pt; padding-top: 1pt; border-right: 0pt; border-left: 0pt; padding-left: 0pt; vertical-align: bottom; padding-bottom: 1pt; border-bottom: 0pt; padding-right: 0pt; ">
                                <P style="margin-left: 33.75pt; color: #000000; text-indent: -11.25pt; font-size: 9pt; font-family: Arial, sans-serif; line-height: normal; margin-top: 0; margin-bottom: 0; text-align: left; margin-right: 0pt; "><FONT style="font-family: Arial, sans-serif; ">6.75% to 06/15/34 then T5Y + 2.457%, 06/15/54, Series R </FONT></P>
                            </TD>
                            <TD style="background-color: #cceeff; border-top: 0pt; padding-top: 1pt; border-right: 0pt; border-left: 0pt; padding-left: 0pt; vertical-align: bottom; padding-bottom: 1pt; border-bottom: 0pt; padding-right: 0pt; ">
                                <P style="margin-left: 0pt; color: #000000; font-size: 9pt; font-family: Arial, sans-serif; line-height: normal; margin-top: 0; margin-bottom: 0; text-align: right; margin-right: 0pt; "><A name="pfd-nportex_083125a1274"></A><FONT>&#160;741,306</FONT></P>
                            </TD>
                            <TD style="background-color: #cceeff; border-top: 0pt; padding-top: 1pt; border-right: 0pt; border-left: 0pt; padding-left: 0pt; vertical-align: bottom; padding-bottom: 1pt; border-bottom: 0pt; padding-right: 0pt; ">
                                <P style="margin-left: 0pt; color: #000000; text-indent: 0pt; font-size: 9pt; font-family: Arial, sans-serif; line-height: normal; margin-top: 0; margin-bottom: 0; text-align: left; margin-right: 0pt; "><SUP style="font-size: 7.0pt; line-height: 7.0pt; ">(2)</SUP><FONT>&#160;</FONT></P>
                            </TD>
                        </TR>
                        <TR style="min-height: 3pt; ">
                            <TD style="border-top: 0pt; padding-top: 1pt; border-right: 0pt; border-left: 0pt; padding-left: 0pt; vertical-align: top; padding-bottom: 1pt; border-bottom: 0pt; padding-right: 0pt; ">
                                <P style="margin-left: 0pt; color: #000000; font-size: 9pt; font-family: Arial, sans-serif; line-height: normal; margin-top: 0; margin-bottom: 0; text-align: right; margin-right: 0pt; "><FONT>&#160;</FONT></P>
                            </TD>
                            <TD style="border-top: 0pt; padding-top: 0pt; border-right: 0pt; border-left: 0pt; padding-left: 0pt; vertical-align: bottom; padding-bottom: 0pt; border-bottom: 0pt; padding-right: 0pt; ">
                                <P style="margin-left: 0pt; font-size: 1pt; line-height: 1pt; margin-top: 0pt; margin-bottom: 0; margin-right: 0pt; ">&#8203;</P>
                            </TD>
                            <TD style="border-top: 0pt; padding-top: 1pt; border-right: 0pt; border-left: 0pt; padding-left: 0pt; vertical-align: bottom; padding-bottom: 1pt; border-bottom: 0pt; padding-right: 0pt; ">
                                <P style="margin-left: 11.25pt; color: #000000; text-indent: -11.25pt; font-size: 9pt; font-family: Arial, sans-serif; line-height: normal; margin-top: 0; margin-bottom: 0; text-align: left; margin-right: 0pt; "><FONT>NiSource, Inc.:</FONT></P>
                            </TD>
                            <TD style="border-top: 0pt; padding-top: 0pt; border-right: 0pt; border-left: 0pt; padding-left: 0pt; vertical-align: bottom; padding-bottom: 0pt; border-bottom: 0pt; padding-right: 0pt; ">
                                <P style="margin-left: 0pt; font-size: 1pt; line-height: 1pt; margin-top: 0pt; margin-bottom: 0; margin-right: 0pt; ">&#8203;</P>
                            </TD>
                            <TD style="border-top: 0pt; padding-top: 0pt; border-right: 0pt; border-left: 0pt; padding-left: 0pt; vertical-align: bottom; padding-bottom: 0pt; border-bottom: 0pt; padding-right: 0pt; ">
                                <P style="margin-left: 0pt; font-size: 1pt; line-height: 1pt; margin-top: 0pt; margin-bottom: 0; margin-right: 0pt; ">&#8203;</P>
                            </TD>
                        </TR>
                        <TR style="min-height: 3pt; ">
                            <TD style="background-color: #cceeff; border-top: 0pt; padding-top: 1pt; border-right: 0pt; border-left: 0pt; padding-left: 0pt; vertical-align: top; padding-bottom: 1pt; border-bottom: 0pt; padding-right: 0pt; ">
                                <P style="margin-left: 0pt; color: #000000; font-size: 9pt; font-family: Arial, sans-serif; line-height: normal; margin-top: 0; margin-bottom: 0; text-align: right; margin-right: 0pt; "><FONT style="float: left; "><FONT>$</FONT></FONT><FONT style="float: right; "><FONT>320,000</FONT></FONT><FONT style="font-size: 9pt; ">&#8203;</FONT>                                    <BR clear="all"></P>
                            </TD>
                            <TD style="background-color: #cceeff; border-top: 0pt; padding-top: 0pt; border-right: 0pt; border-left: 0pt; padding-left: 0pt; vertical-align: bottom; padding-bottom: 0pt; border-bottom: 0pt; padding-right: 0pt; ">
                                <P style="margin-left: 0pt; font-size: 1pt; line-height: 1pt; margin-top: 0pt; margin-bottom: 0; margin-right: 0pt; ">&#8203;</P>
                            </TD>
                            <TD style="background-color: #cceeff; border-top: 0pt; padding-top: 1pt; border-right: 0pt; border-left: 0pt; padding-left: 0pt; vertical-align: bottom; padding-bottom: 1pt; border-bottom: 0pt; padding-right: 0pt; ">
                                <P style="margin-left: 22.5pt; color: #000000; text-indent: -11.25pt; font-size: 9pt; font-family: Arial, sans-serif; line-height: normal; margin-top: 0; margin-bottom: 0; text-align: left; margin-right: 0pt; "><FONT>6.375% to 03/31/35 then T5Y + 2.527%, 03/31/55 </FONT></P>
                            </TD>
                            <TD style="background-color: #cceeff; border-top: 0pt; padding-top: 1pt; border-right: 0pt; border-left: 0pt; padding-left: 0pt; vertical-align: bottom; padding-bottom: 1pt; border-bottom: 0pt; padding-right: 0pt; ">
                                <P style="margin-left: 0pt; color: #000000; font-size: 9pt; font-family: Arial, sans-serif; line-height: normal; margin-top: 0; margin-bottom: 0; text-align: right; margin-right: 0pt; "><A name="pfd-nportex_083125a1275"></A><FONT>&#160;329,407</FONT></P>
                            </TD>
                            <TD style="background-color: #cceeff; border-top: 0pt; padding-top: 0pt; border-right: 0pt; border-left: 0pt; padding-left: 0pt; vertical-align: bottom; padding-bottom: 0pt; border-bottom: 0pt; padding-right: 0pt; ">
                                <P style="margin-left: 0pt; font-size: 1pt; line-height: 1pt; margin-top: 0pt; margin-bottom: 0; margin-right: 0pt; ">&#8203;</P>
                            </TD>
                        </TR>
                        <TR style="min-height: 3pt; ">
                            <TD style="border-top: 0pt; padding-top: 1pt; border-right: 0pt; border-left: 0pt; padding-left: 0pt; vertical-align: top; padding-bottom: 1pt; border-bottom: 0pt; padding-right: 0pt; ">
                                <P style="margin-left: 0pt; color: #000000; font-size: 9pt; font-family: Arial, sans-serif; line-height: normal; margin-top: 0; margin-bottom: 0; text-align: right; margin-right: 0pt; "><FONT style="float: left; "><FONT>$</FONT></FONT><FONT style="float: right; "><FONT>595,000</FONT></FONT><FONT style="font-size: 9pt; ">&#8203;</FONT>                                    <BR clear="all"></P>
                            </TD>
                            <TD style="border-top: 0pt; padding-top: 0pt; border-right: 0pt; border-left: 0pt; padding-left: 0pt; vertical-align: bottom; padding-bottom: 0pt; border-bottom: 0pt; padding-right: 0pt; ">
                                <P style="margin-left: 0pt; font-size: 1pt; line-height: 1pt; margin-top: 0pt; margin-bottom: 0; margin-right: 0pt; ">&#8203;</P>
                            </TD>
                            <TD style="border-top: 0pt; padding-top: 1pt; border-right: 0pt; border-left: 0pt; padding-left: 0pt; vertical-align: bottom; padding-bottom: 1pt; border-bottom: 0pt; padding-right: 0pt; ">
                                <P style="margin-left: 22.5pt; color: #000000; text-indent: -11.25pt; font-size: 9pt; font-family: Arial, sans-serif; line-height: normal; margin-top: 0; margin-bottom: 0; text-align: left; margin-right: 0pt; "><FONT>6.95% to 11/30/29 then T5Y + 2.451%, 11/30/54 </FONT></P>
                            </TD>
                            <TD style="border-top: 0pt; padding-top: 1pt; border-right: 0pt; border-left: 0pt; padding-left: 0pt; vertical-align: bottom; padding-bottom: 1pt; border-bottom: 0pt; padding-right: 0pt; ">
                                <P style="margin-left: 0pt; color: #000000; font-size: 9pt; font-family: Arial, sans-serif; line-height: normal; margin-top: 0; margin-bottom: 0; text-align: right; margin-right: 0pt; "><A name="pfd-nportex_083125a1276"></A><FONT>&#160;620,162</FONT></P>
                            </TD>
                            <TD style="border-top: 0pt; padding-top: 0pt; border-right: 0pt; border-left: 0pt; padding-left: 0pt; vertical-align: bottom; padding-bottom: 0pt; border-bottom: 0pt; padding-right: 0pt; ">
                                <P style="margin-left: 0pt; font-size: 1pt; line-height: 1pt; margin-top: 0pt; margin-bottom: 0; margin-right: 0pt; ">&#8203;</P>
                            </TD>
                        </TR>
                        <TR style="min-height: 3pt; ">
                            <TD style="background-color: #cceeff; border-top: 0pt; padding-top: 1pt; border-right: 0pt; border-left: 0pt; padding-left: 0pt; vertical-align: top; padding-bottom: 1pt; border-bottom: 0pt; padding-right: 0pt; ">
                                <P style="margin-left: 0pt; color: #000000; font-size: 9pt; font-family: Arial, sans-serif; line-height: normal; margin-top: 0; margin-bottom: 0; text-align: right; margin-right: 0pt; "><FONT style="float: left; "><FONT>$</FONT></FONT><FONT style="float: right; "><FONT>615,000</FONT></FONT><FONT style="font-size: 9pt; ">&#8203;</FONT>                                    <BR clear="all"></P>
                            </TD>
                            <TD style="background-color: #cceeff; border-top: 0pt; padding-top: 0pt; border-right: 0pt; border-left: 0pt; padding-left: 0pt; vertical-align: bottom; padding-bottom: 0pt; border-bottom: 0pt; padding-right: 0pt; ">
                                <P style="margin-left: 0pt; font-size: 1pt; line-height: 1pt; margin-top: 0pt; margin-bottom: 0; margin-right: 0pt; ">&#8203;</P>
                            </TD>
                            <TD style="background-color: #cceeff; border-top: 0pt; padding-top: 1pt; border-right: 0pt; border-left: 0pt; padding-left: 0pt; vertical-align: bottom; padding-bottom: 1pt; border-bottom: 0pt; padding-right: 0pt; ">
                                <P style="margin-left: 11.25pt; color: #000000; text-indent: -11.25pt; font-size: 9pt; font-family: Arial, sans-serif; line-height: normal; margin-top: 0; margin-bottom: 0; text-align: left; margin-right: 0pt; "><FONT>Northwest Natural Holding Company, 7.00% to 09/15/35 then <br>T5Y + 2.701%, 09/15/55 </FONT></P>
                            </TD>
                            <TD style="background-color: #cceeff; border-top: 0pt; padding-top: 1pt; border-right: 0pt; border-left: 0pt; padding-left: 0pt; vertical-align: bottom; padding-bottom: 1pt; border-bottom: 0pt; padding-right: 0pt; ">
                                <P style="margin-left: 0pt; color: #000000; font-size: 9pt; font-family: Arial, sans-serif; line-height: normal; margin-top: 0; margin-bottom: 0; text-align: right; margin-right: 0pt; "><A name="pfd-nportex_083125a1277"></A><FONT>&#160;624,741</FONT></P>
                            </TD>
                            <TD style="background-color: #cceeff; border-top: 0pt; padding-top: 0pt; border-right: 0pt; border-left: 0pt; padding-left: 0pt; vertical-align: bottom; padding-bottom: 0pt; border-bottom: 0pt; padding-right: 0pt; ">
                                <P style="margin-left: 0pt; font-size: 1pt; line-height: 1pt; margin-top: 0pt; margin-bottom: 0; margin-right: 0pt; ">&#8203;</P>
                            </TD>
                        </TR>
                        <TR style="min-height: 3pt; ">
                            <TD style="border-top: 0pt; padding-top: 1pt; border-right: 0pt; border-left: 0pt; padding-left: 0pt; vertical-align: top; padding-bottom: 1pt; border-bottom: 0pt; padding-right: 0pt; ">
                                <P style="margin-left: 0pt; color: #000000; font-size: 9pt; font-family: Arial, sans-serif; line-height: normal; margin-top: 0; margin-bottom: 0; text-align: right; margin-right: 0pt; "><FONT>&#160;</FONT></P>
                            </TD>
                            <TD style="border-top: 0pt; padding-top: 0pt; border-right: 0pt; border-left: 0pt; padding-left: 0pt; vertical-align: bottom; padding-bottom: 0pt; border-bottom: 0pt; padding-right: 0pt; ">
                                <P style="margin-left: 0pt; font-size: 1pt; line-height: 1pt; margin-top: 0pt; margin-bottom: 0; margin-right: 0pt; ">&#8203;</P>
                            </TD>
                            <TD style="border-top: 0pt; padding-top: 1pt; border-right: 0pt; border-left: 0pt; padding-left: 0pt; vertical-align: bottom; padding-bottom: 1pt; border-bottom: 0pt; padding-right: 0pt; ">
                                <P style="margin-left: 11.25pt; color: #000000; text-indent: -11.25pt; font-size: 9pt; font-family: Arial, sans-serif; line-height: normal; margin-top: 0; margin-bottom: 0; text-align: left; margin-right: 0pt; "><FONT>PECO Energy:</FONT></P>
                            </TD>
                            <TD style="border-top: 0pt; padding-top: 0pt; border-right: 0pt; border-left: 0pt; padding-left: 0pt; vertical-align: bottom; padding-bottom: 0pt; border-bottom: 0pt; padding-right: 0pt; ">
                                <P style="margin-left: 0pt; font-size: 1pt; line-height: 1pt; margin-top: 0pt; margin-bottom: 0; margin-right: 0pt; ">&#8203;</P>
                            </TD>
                            <TD style="border-top: 0pt; padding-top: 0pt; border-right: 0pt; border-left: 0pt; padding-left: 0pt; vertical-align: bottom; padding-bottom: 0pt; border-bottom: 0pt; padding-right: 0pt; ">
                                <P style="margin-left: 0pt; font-size: 1pt; line-height: 1pt; margin-top: 0pt; margin-bottom: 0; margin-right: 0pt; ">&#8203;</P>
                            </TD>
                        </TR>
                        <TR style="min-height: 3pt; ">
                            <TD style="background-color: #cceeff; border-top: 0pt; padding-top: 1pt; border-right: 0pt; border-left: 0pt; padding-left: 0pt; vertical-align: top; padding-bottom: 1pt; border-bottom: 0pt; padding-right: 0pt; ">
                                <P style="margin-left: 0pt; color: #000000; font-size: 9pt; font-family: Arial, sans-serif; line-height: normal; margin-top: 0; margin-bottom: 0; text-align: right; margin-right: 0pt; "><FONT style="float: left; "><FONT>$</FONT></FONT><FONT style="float: right; "><FONT>500,000</FONT></FONT><FONT style="font-size: 9pt; ">&#8203;</FONT>                                    <BR clear="all"></P>
                            </TD>
                            <TD style="background-color: #cceeff; border-top: 0pt; padding-top: 0pt; border-right: 0pt; border-left: 0pt; padding-left: 0pt; vertical-align: bottom; padding-bottom: 0pt; border-bottom: 0pt; padding-right: 0pt; ">
                                <P style="margin-left: 0pt; font-size: 1pt; line-height: 1pt; margin-top: 0pt; margin-bottom: 0; margin-right: 0pt; ">&#8203;</P>
                            </TD>
                            <TD style="background-color: #cceeff; border-top: 0pt; padding-top: 1pt; border-right: 0pt; border-left: 0pt; padding-left: 0pt; vertical-align: bottom; padding-bottom: 1pt; border-bottom: 0pt; padding-right: 0pt; ">
                                <P style="margin-left: 22.5pt; color: #000000; text-indent: -11.25pt; font-size: 9pt; font-family: Arial, sans-serif; line-height: normal; margin-top: 0; margin-bottom: 0; text-align: left; margin-right: 0pt; "><FONT>PECO Energy Capital Trust III, 7.38% 04/06/28, Series D </FONT></P>
                            </TD>
                            <TD style="background-color: #cceeff; border-top: 0pt; padding-top: 1pt; border-right: 0pt; border-left: 0pt; padding-left: 0pt; vertical-align: bottom; padding-bottom: 1pt; border-bottom: 0pt; padding-right: 0pt; ">
                                <P style="margin-left: 0pt; color: #000000; font-size: 9pt; font-family: Arial, sans-serif; line-height: normal; margin-top: 0; margin-bottom: 0; text-align: right; margin-right: 0pt; "><A name="pfd-nportex_083125a1278"></A><FONT>&#160;530,093</FONT></P>
                            </TD>
                            <TD style="background-color: #cceeff; border-top: 0pt; padding-top: 1pt; border-right: 0pt; border-left: 0pt; padding-left: 0pt; vertical-align: bottom; padding-bottom: 1pt; border-bottom: 0pt; padding-right: 0pt; ">
                                <P style="margin-left: 0pt; color: #000000; text-indent: 0pt; font-size: 9pt; font-family: Arial, sans-serif; line-height: normal; margin-top: 0; margin-bottom: 0; text-align: left; margin-right: 0pt; "><SUP style="font-size: 7.0pt; line-height: 7.0pt; ">(2)</SUP><FONT>&#160;</FONT></P>
                            </TD>
                        </TR>
                        <TR style="min-height: 3pt; ">
                            <TD style="border-top: 0pt; padding-top: 1pt; border-right: 0pt; border-left: 0pt; padding-left: 0pt; vertical-align: top; padding-bottom: 1pt; border-bottom: 0pt; padding-right: 0pt; ">
                                <P style="margin-left: 0pt; color: #000000; font-size: 9pt; font-family: Arial, sans-serif; line-height: normal; margin-top: 0; margin-bottom: 0; text-align: right; margin-right: 0pt; "><FONT>&#160;</FONT></P>
                            </TD>
                            <TD style="border-top: 0pt; padding-top: 0pt; border-right: 0pt; border-left: 0pt; padding-left: 0pt; vertical-align: bottom; padding-bottom: 0pt; border-bottom: 0pt; padding-right: 0pt; ">
                                <P style="margin-left: 0pt; font-size: 1pt; line-height: 1pt; margin-top: 0pt; margin-bottom: 0; margin-right: 0pt; ">&#8203;</P>
                            </TD>
                            <TD style="border-top: 0pt; padding-top: 1pt; border-right: 0pt; border-left: 0pt; padding-left: 0pt; vertical-align: bottom; padding-bottom: 1pt; border-bottom: 0pt; padding-right: 0pt; ">
                                <P style="margin-left: 11.25pt; color: #000000; text-indent: -11.25pt; font-size: 9pt; font-family: Arial, sans-serif; line-height: normal; margin-top: 0; margin-bottom: 0; text-align: left; margin-right: 0pt; "><FONT>Sempra:</FONT></P>
                            </TD>
                            <TD style="border-top: 0pt; padding-top: 0pt; border-right: 0pt; border-left: 0pt; padding-left: 0pt; vertical-align: bottom; padding-bottom: 0pt; border-bottom: 0pt; padding-right: 0pt; ">
                                <P style="margin-left: 0pt; font-size: 1pt; line-height: 1pt; margin-top: 0pt; margin-bottom: 0; margin-right: 0pt; ">&#8203;</P>
                            </TD>
                            <TD style="border-top: 0pt; padding-top: 0pt; border-right: 0pt; border-left: 0pt; padding-left: 0pt; vertical-align: bottom; padding-bottom: 0pt; border-bottom: 0pt; padding-right: 0pt; ">
                                <P style="margin-left: 0pt; font-size: 1pt; line-height: 1pt; margin-top: 0pt; margin-bottom: 0; margin-right: 0pt; ">&#8203;</P>
                            </TD>
                        </TR>
                        <TR style="min-height: 3pt; ">
                            <TD style="background-color: #cceeff; border-top: 0pt; padding-top: 1pt; border-right: 0pt; border-left: 0pt; padding-left: 0pt; vertical-align: top; padding-bottom: 1pt; border-bottom: 0pt; padding-right: 0pt; ">
                                <P style="margin-left: 0pt; color: #000000; font-size: 9pt; font-family: Arial, sans-serif; line-height: normal; margin-top: 0; margin-bottom: 0; text-align: right; margin-right: 0pt; "><FONT style="float: left; "><FONT>$</FONT></FONT><FONT style="float: right; "><FONT>1,200,000</FONT></FONT><FONT style="font-size: 9pt; ">&#8203;</FONT>                                    <BR clear="all"></P>
                            </TD>
                            <TD style="background-color: #cceeff; border-top: 0pt; padding-top: 0pt; border-right: 0pt; border-left: 0pt; padding-left: 0pt; vertical-align: bottom; padding-bottom: 0pt; border-bottom: 0pt; padding-right: 0pt; ">
                                <P style="margin-left: 0pt; font-size: 1pt; line-height: 1pt; margin-top: 0pt; margin-bottom: 0; margin-right: 0pt; ">&#8203;</P>
                            </TD>
                            <TD style="background-color: #cceeff; border-top: 0pt; padding-top: 1pt; border-right: 0pt; border-left: 0pt; padding-left: 0pt; vertical-align: bottom; padding-bottom: 1pt; border-bottom: 0pt; padding-right: 0pt; ">
                                <P style="margin-left: 22.5pt; color: #000000; text-indent: -11.25pt; font-size: 9pt; font-family: Arial, sans-serif; line-height: normal; margin-top: 0; margin-bottom: 0; text-align: left; margin-right: 0pt; "><FONT>4.125% to 04/01/27 then T5Y + 2.868%, 04/01/52 </FONT></P>
                            </TD>
                            <TD style="background-color: #cceeff; border-top: 0pt; padding-top: 1pt; border-right: 0pt; border-left: 0pt; padding-left: 0pt; vertical-align: bottom; padding-bottom: 1pt; border-bottom: 0pt; padding-right: 0pt; ">
                                <P style="margin-left: 0pt; color: #000000; font-size: 9pt; font-family: Arial, sans-serif; line-height: normal; margin-top: 0; margin-bottom: 0; text-align: right; margin-right: 0pt; "><A name="pfd-nportex_083125a1279"></A><FONT>&#160;1,165,989</FONT></P>
                            </TD>
                            <TD style="background-color: #cceeff; border-top: 0pt; padding-top: 1pt; border-right: 0pt; border-left: 0pt; padding-left: 0pt; vertical-align: bottom; padding-bottom: 1pt; border-bottom: 0pt; padding-right: 0pt; ">
                                <P style="margin-left: 0pt; color: #000000; text-indent: 0pt; font-size: 9pt; font-family: Arial, sans-serif; line-height: normal; margin-top: 0; margin-bottom: 0; text-align: left; margin-right: 0pt; "><SUP style="font-size: 7.0pt; line-height: 7.0pt; ">(2)(3)</SUP><FONT>&#160;</FONT></P>
                            </TD>
                        </TR>
                        <TR style="min-height: 3pt; ">
                            <TD style="border-top: 0pt; padding-top: 1pt; border-right: 0pt; border-left: 0pt; padding-left: 0pt; vertical-align: top; padding-bottom: 1pt; border-bottom: 0pt; padding-right: 0pt; ">
                                <P style="margin-left: 0pt; color: #000000; font-size: 9pt; font-family: Arial, sans-serif; line-height: normal; margin-top: 0; margin-bottom: 0; text-align: right; margin-right: 0pt; "><FONT style="float: left; "><FONT>$</FONT></FONT><FONT style="float: right; "><FONT>1,020,000</FONT></FONT><FONT style="font-size: 9pt; ">&#8203;</FONT>                                    <BR clear="all"></P>
                            </TD>
                            <TD style="border-top: 0pt; padding-top: 0pt; border-right: 0pt; border-left: 0pt; padding-left: 0pt; vertical-align: bottom; padding-bottom: 0pt; border-bottom: 0pt; padding-right: 0pt; ">
                                <P style="margin-left: 0pt; font-size: 1pt; line-height: 1pt; margin-top: 0pt; margin-bottom: 0; margin-right: 0pt; ">&#8203;</P>
                            </TD>
                            <TD style="border-top: 0pt; padding-top: 1pt; border-right: 0pt; border-left: 0pt; padding-left: 0pt; vertical-align: bottom; padding-bottom: 1pt; border-bottom: 0pt; padding-right: 0pt; ">
                                <P style="margin-left: 22.5pt; color: #000000; text-indent: -11.25pt; font-size: 9pt; font-family: Arial, sans-serif; line-height: normal; margin-top: 0; margin-bottom: 0; text-align: left; margin-right: 0pt; "><FONT>4.875% to 10/15/25 then T5Y + 4.55%, Series C </FONT></P>
                            </TD>
                            <TD style="border-top: 0pt; padding-top: 1pt; border-right: 0pt; border-left: 0pt; padding-left: 0pt; vertical-align: bottom; padding-bottom: 1pt; border-bottom: 0pt; padding-right: 0pt; ">
                                <P style="margin-left: 0pt; color: #000000; font-size: 9pt; font-family: Arial, sans-serif; line-height: normal; margin-top: 0; margin-bottom: 0; text-align: right; margin-right: 0pt; "><A name="pfd-nportex_083125a1280"></A><FONT>&#160;1,020,756</FONT></P>
                            </TD>
                            <TD style="border-top: 0pt; padding-top: 1pt; border-right: 0pt; border-left: 0pt; padding-left: 0pt; vertical-align: bottom; padding-bottom: 1pt; border-bottom: 0pt; padding-right: 0pt; ">
                                <P style="margin-left: 0pt; color: #000000; text-indent: 0pt; font-size: 9pt; font-family: Arial, sans-serif; line-height: normal; margin-top: 0; margin-bottom: 0; text-align: left; margin-right: 0pt; "><FONT>*</FONT><SUP style="font-size: 7.0pt; line-height: 7.0pt; ">(1)(2)(3)</SUP><FONT>&#160;</FONT></P>
                            </TD>
                        </TR>
                        <TR style="min-height: 3pt; ">
                            <TD style="background-color: #cceeff; border-top: 0pt; padding-top: 1pt; border-right: 0pt; border-left: 0pt; padding-left: 0pt; vertical-align: top; padding-bottom: 1pt; border-bottom: 0pt; padding-right: 0pt; ">
                                <P style="margin-left: 0pt; color: #000000; font-size: 9pt; font-family: Arial, sans-serif; line-height: normal; margin-top: 0; margin-bottom: 0; text-align: right; margin-right: 0pt; "><FONT style="float: left; "><FONT>$</FONT></FONT><FONT style="float: right; "><FONT>640,000</FONT></FONT><FONT style="font-size: 9pt; ">&#8203;</FONT>                                    <BR clear="all"></P>
                            </TD>
                            <TD style="background-color: #cceeff; border-top: 0pt; padding-top: 0pt; border-right: 0pt; border-left: 0pt; padding-left: 0pt; vertical-align: bottom; padding-bottom: 0pt; border-bottom: 0pt; padding-right: 0pt; ">
                                <P style="margin-left: 0pt; font-size: 1pt; line-height: 1pt; margin-top: 0pt; margin-bottom: 0; margin-right: 0pt; ">&#8203;</P>
                            </TD>
                            <TD style="background-color: #cceeff; border-top: 0pt; padding-top: 1pt; border-right: 0pt; border-left: 0pt; padding-left: 0pt; vertical-align: bottom; padding-bottom: 1pt; border-bottom: 0pt; padding-right: 0pt; ">
                                <P style="margin-left: 22.5pt; color: #000000; text-indent: -11.25pt; font-size: 9pt; font-family: Arial, sans-serif; line-height: normal; margin-top: 0; margin-bottom: 0; text-align: left; margin-right: 0pt; "><FONT>6.40% to 10/01/34 then T5Y + 2.632%, 10/01/54 </FONT></P>
                            </TD>
                            <TD style="background-color: #cceeff; border-top: 0pt; padding-top: 1pt; border-right: 0pt; border-left: 0pt; padding-left: 0pt; vertical-align: bottom; padding-bottom: 1pt; border-bottom: 0pt; padding-right: 0pt; ">
                                <P style="margin-left: 0pt; color: #000000; font-size: 9pt; font-family: Arial, sans-serif; line-height: normal; margin-top: 0; margin-bottom: 0; text-align: right; margin-right: 0pt; "><A name="pfd-nportex_083125a1281"></A><FONT>&#160;633,322</FONT></P>
                            </TD>
                            <TD style="background-color: #cceeff; border-top: 0pt; padding-top: 0pt; border-right: 0pt; border-left: 0pt; padding-left: 0pt; vertical-align: bottom; padding-bottom: 0pt; border-bottom: 0pt; padding-right: 0pt; ">
                                <P style="margin-left: 0pt; font-size: 1pt; line-height: 1pt; margin-top: 0pt; margin-bottom: 0; margin-right: 0pt; ">&#8203;</P>
                            </TD>
                        </TR>
                        <TR style="min-height: 3pt; ">
                            <TD style="border-top: 0pt; padding-top: 1pt; border-right: 0pt; border-left: 0pt; padding-left: 0pt; vertical-align: top; padding-bottom: 1pt; border-bottom: 0pt; padding-right: 0pt; ">
                                <P style="margin-left: 0pt; color: #000000; font-size: 9pt; font-family: Arial, sans-serif; line-height: normal; margin-top: 0; margin-bottom: 0; text-align: right; margin-right: 0pt; "><FONT style="float: left; "><FONT>$</FONT></FONT><FONT style="float: right; "><FONT>645,000</FONT></FONT><FONT style="font-size: 9pt; ">&#8203;</FONT>                                    <BR clear="all"></P>
                            </TD>
                            <TD style="border-top: 0pt; padding-top: 0pt; border-right: 0pt; border-left: 0pt; padding-left: 0pt; vertical-align: bottom; padding-bottom: 0pt; border-bottom: 0pt; padding-right: 0pt; ">
                                <P style="margin-left: 0pt; font-size: 1pt; line-height: 1pt; margin-top: 0pt; margin-bottom: 0; margin-right: 0pt; ">&#8203;</P>
                            </TD>
                            <TD style="border-top: 0pt; padding-top: 1pt; border-right: 0pt; border-left: 0pt; padding-left: 0pt; vertical-align: bottom; padding-bottom: 1pt; border-bottom: 0pt; padding-right: 0pt; ">
                                <P style="margin-left: 22.5pt; color: #000000; text-indent: -11.25pt; font-size: 9pt; font-family: Arial, sans-serif; line-height: normal; margin-top: 0; margin-bottom: 0; text-align: left; margin-right: 0pt; "><FONT>6.875% to 10/01/29 then T5Y + 2.789%, 10/01/54 </FONT></P>
                            </TD>
                            <TD style="border-top: 0pt; padding-top: 1pt; border-right: 0pt; border-left: 0pt; padding-left: 0pt; vertical-align: bottom; padding-bottom: 1pt; border-bottom: 0pt; padding-right: 0pt; ">
                                <P style="margin-left: 0pt; color: #000000; font-size: 9pt; font-family: Arial, sans-serif; line-height: normal; margin-top: 0; margin-bottom: 0; text-align: right; margin-right: 0pt; "><A name="pfd-nportex_083125a1282"></A><FONT>&#160;656,123</FONT></P>
                            </TD>
                            <TD style="border-top: 0pt; padding-top: 0pt; border-right: 0pt; border-left: 0pt; padding-left: 0pt; vertical-align: bottom; padding-bottom: 0pt; border-bottom: 0pt; padding-right: 0pt; ">
                                <P style="margin-left: 0pt; font-size: 1pt; line-height: 1pt; margin-top: 0pt; margin-bottom: 0; margin-right: 0pt; ">&#8203;</P>
                            </TD>
                        </TR>
                        <TR style="min-height: 3pt; ">
                            <TD style="background-color: #cceeff; border-top: 0pt; padding-top: 1pt; border-right: 0pt; border-left: 0pt; padding-left: 0pt; vertical-align: top; padding-bottom: 1pt; border-bottom: 0pt; padding-right: 0pt; ">
                                <P style="margin-left: 0pt; color: #000000; font-size: 9pt; font-family: Arial, sans-serif; line-height: normal; margin-top: 0; margin-bottom: 0; text-align: right; margin-right: 0pt; "><FONT>&#160;</FONT></P>
                            </TD>
                            <TD style="background-color: #cceeff; border-top: 0pt; padding-top: 0pt; border-right: 0pt; border-left: 0pt; padding-left: 0pt; vertical-align: bottom; padding-bottom: 0pt; border-bottom: 0pt; padding-right: 0pt; ">
                                <P style="margin-left: 0pt; font-size: 1pt; line-height: 1pt; margin-top: 0pt; margin-bottom: 0; margin-right: 0pt; ">&#8203;</P>
                            </TD>
                            <TD style="background-color: #cceeff; border-top: 0pt; padding-top: 1pt; border-right: 0pt; border-left: 0pt; padding-left: 0pt; vertical-align: bottom; padding-bottom: 1pt; border-bottom: 0pt; padding-right: 0pt; ">
                                <P style="margin-left: 11.25pt; color: #000000; text-indent: -11.25pt; font-size: 9pt; font-family: Arial, sans-serif; line-height: normal; margin-top: 0; margin-bottom: 0; text-align: left; margin-right: 0pt; "><FONT>Southern California Edison:</FONT></P>
                            </TD>
                            <TD style="background-color: #cceeff; border-top: 0pt; padding-top: 0pt; border-right: 0pt; border-left: 0pt; padding-left: 0pt; vertical-align: bottom; padding-bottom: 0pt; border-bottom: 0pt; padding-right: 0pt; ">
                                <P style="margin-left: 0pt; font-size: 1pt; line-height: 1pt; margin-top: 0pt; margin-bottom: 0; margin-right: 0pt; ">&#8203;</P>
                            </TD>
                            <TD style="background-color: #cceeff; border-top: 0pt; padding-top: 0pt; border-right: 0pt; border-left: 0pt; padding-left: 0pt; vertical-align: bottom; padding-bottom: 0pt; border-bottom: 0pt; padding-right: 0pt; ">
                                <P style="margin-left: 0pt; font-size: 1pt; line-height: 1pt; margin-top: 0pt; margin-bottom: 0; margin-right: 0pt; ">&#8203;</P>
                            </TD>
                        </TR>
                        <TR style="min-height: 3pt; ">
                            <TD style="border-top: 0pt; padding-top: 1pt; border-right: 0pt; border-left: 0pt; padding-left: 0pt; vertical-align: top; padding-bottom: 1pt; border-bottom: 0pt; padding-right: 0pt; ">
                                <P style="margin-left: 0pt; color: #000000; font-size: 9pt; font-family: Arial, sans-serif; line-height: normal; margin-top: 0; margin-bottom: 0; text-align: right; margin-right: 0pt; "><FONT>32,270</FONT></P>
                            </TD>
                            <TD style="border-top: 0pt; padding-top: 0pt; border-right: 0pt; border-left: 0pt; padding-left: 0pt; vertical-align: bottom; padding-bottom: 0pt; border-bottom: 0pt; padding-right: 0pt; ">
                                <P style="margin-left: 0pt; font-size: 1pt; line-height: 1pt; margin-top: 0pt; margin-bottom: 0; margin-right: 0pt; ">&#8203;</P>
                            </TD>
                            <TD style="border-top: 0pt; padding-top: 1pt; border-right: 0pt; border-left: 0pt; padding-left: 0pt; vertical-align: bottom; padding-bottom: 1pt; border-bottom: 0pt; padding-right: 0pt; ">
                                <P style="margin-left: 22.5pt; color: #000000; text-indent: -11.25pt; font-size: 9pt; font-family: Arial, sans-serif; line-height: normal; margin-top: 0; margin-bottom: 0; text-align: left; margin-right: 0pt; "><FONT>SCE Trust V, 5.45% to 03/15/26 then TSFR3M + 4.05161%, Series K </FONT></P>
                            </TD>
                            <TD style="border-top: 0pt; padding-top: 1pt; border-right: 0pt; border-left: 0pt; padding-left: 0pt; vertical-align: bottom; padding-bottom: 1pt; border-bottom: 0pt; padding-right: 0pt; ">
                                <P style="margin-left: 0pt; color: #000000; font-size: 9pt; font-family: Arial, sans-serif; line-height: normal; margin-top: 0; margin-bottom: 0; text-align: right; margin-right: 0pt; "><FONT>758,990</FONT></P>
                            </TD>
                            <TD style="border-top: 0pt; padding-top: 1pt; border-right: 0pt; border-left: 0pt; padding-left: 0pt; vertical-align: bottom; padding-bottom: 1pt; border-bottom: 0pt; padding-right: 0pt; ">
                                <P style="margin-left: 0pt; color: #000000; text-indent: 0pt; font-size: 9pt; font-family: Arial, sans-serif; line-height: normal; margin-top: 0; margin-bottom: 0; text-align: left; margin-right: 0pt; "><FONT>*</FONT><SUP style="font-size: 7.0pt; line-height: 7.0pt; ">(1)(2)</SUP><FONT>&#160;</FONT></P>
                            </TD>
                        </TR>
                        <TR style="min-height: 3pt; ">
                            <TD style="background-color: #cceeff; border-top: 0pt; padding-top: 1pt; border-right: 0pt; border-left: 0pt; padding-left: 0pt; vertical-align: top; padding-bottom: 1pt; border-bottom: 0pt; padding-right: 0pt; ">
                                <P style="margin-left: 0pt; color: #000000; font-size: 9pt; font-family: Arial, sans-serif; line-height: normal; margin-top: 0; margin-bottom: 0; text-align: right; margin-right: 0pt; "><FONT>34,900</FONT></P>
                            </TD>
                            <TD style="background-color: #cceeff; border-top: 0pt; padding-top: 0pt; border-right: 0pt; border-left: 0pt; padding-left: 0pt; vertical-align: bottom; padding-bottom: 0pt; border-bottom: 0pt; padding-right: 0pt; ">
                                <P style="margin-left: 0pt; font-size: 1pt; line-height: 1pt; margin-top: 0pt; margin-bottom: 0; margin-right: 0pt; ">&#8203;</P>
                            </TD>
                            <TD style="background-color: #cceeff; border-top: 0pt; padding-top: 1pt; border-right: 0pt; border-left: 0pt; padding-left: 0pt; vertical-align: bottom; padding-bottom: 1pt; border-bottom: 0pt; padding-right: 0pt; ">
                                <P style="margin-left: 22.5pt; color: #000000; text-indent: -11.25pt; font-size: 9pt; font-family: Arial, sans-serif; line-height: normal; margin-top: 0; margin-bottom: 0; text-align: left; margin-right: 0pt; "><FONT>SCE Trust VII, 7.50%, Series M </FONT></P>
                            </TD>
                            <TD style="background-color: #cceeff; border-top: 0pt; padding-top: 1pt; border-right: 0pt; border-left: 0pt; padding-left: 0pt; vertical-align: bottom; padding-bottom: 1pt; border-bottom: 0pt; padding-right: 0pt; ">
                                <P style="margin-left: 0pt; color: #000000; font-size: 9pt; font-family: Arial, sans-serif; line-height: normal; margin-top: 0; margin-bottom: 0; text-align: right; margin-right: 0pt; "><A name="pfd-nportex_083125a1285"></A><FONT>&#160;811,425</FONT></P>
                            </TD>
                            <TD style="background-color: #cceeff; border-top: 0pt; padding-top: 1pt; border-right: 0pt; border-left: 0pt; padding-left: 0pt; vertical-align: bottom; padding-bottom: 1pt; border-bottom: 0pt; padding-right: 0pt; ">
                                <P style="margin-left: 0pt; color: #000000; text-indent: 0pt; font-size: 9pt; font-family: Arial, sans-serif; line-height: normal; margin-top: 0; margin-bottom: 0; text-align: left; margin-right: 0pt; "><FONT>*</FONT><SUP style="font-size: 7.0pt; line-height: 7.0pt; ">(1)</SUP><FONT>&#160;</FONT></P>
                            </TD>
                        </TR>
                        <TR style="min-height: 3pt; ">
                            <TD style="border-top: 0pt; padding-top: 1pt; border-right: 0pt; border-left: 0pt; padding-left: 0pt; vertical-align: top; padding-bottom: 1pt; border-bottom: 0pt; padding-right: 0pt; ">
                                <P style="margin-left: 0pt; color: #000000; font-size: 9pt; font-family: Arial, sans-serif; line-height: normal; margin-top: 0; margin-bottom: 0; text-align: right; margin-right: 0pt; "><FONT>23,200</FONT></P>
                            </TD>
                            <TD style="border-top: 0pt; padding-top: 0pt; border-right: 0pt; border-left: 0pt; padding-left: 0pt; vertical-align: bottom; padding-bottom: 0pt; border-bottom: 0pt; padding-right: 0pt; ">
                                <P style="margin-left: 0pt; font-size: 1pt; line-height: 1pt; margin-top: 0pt; margin-bottom: 0; margin-right: 0pt; ">&#8203;</P>
                            </TD>
                            <TD style="border-top: 0pt; padding-top: 1pt; border-right: 0pt; border-left: 0pt; padding-left: 0pt; vertical-align: bottom; padding-bottom: 1pt; border-bottom: 0pt; padding-right: 0pt; ">
                                <P style="margin-left: 22.5pt; color: #000000; text-indent: -11.25pt; font-size: 9pt; font-family: Arial, sans-serif; line-height: normal; margin-top: 0; margin-bottom: 0; text-align: left; margin-right: 0pt; "><FONT>SCE Trust VIII, 6.95%, Series N </FONT></P>
                            </TD>
                            <TD style="border-top: 0pt; padding-top: 1pt; border-right: 0pt; border-left: 0pt; padding-left: 0pt; vertical-align: bottom; padding-bottom: 1pt; border-bottom: 0pt; padding-right: 0pt; ">
                                <P style="margin-left: 0pt; color: #000000; font-size: 9pt; font-family: Arial, sans-serif; line-height: normal; margin-top: 0; margin-bottom: 0; text-align: right; margin-right: 0pt; "><A name="pfd-nportex_083125a1286"></A><FONT>&#160;508,080</FONT></P>
                            </TD>
                            <TD style="border-top: 0pt; padding-top: 1pt; border-right: 0pt; border-left: 0pt; padding-left: 0pt; vertical-align: bottom; padding-bottom: 1pt; border-bottom: 0pt; padding-right: 0pt; ">
                                <P style="margin-left: 0pt; color: #000000; text-indent: 0pt; font-size: 9pt; font-family: Arial, sans-serif; line-height: normal; margin-top: 0; margin-bottom: 0; text-align: left; margin-right: 0pt; "><FONT>*</FONT><SUP style="font-size: 7.0pt; line-height: 7.0pt; ">(1)</SUP><FONT>&#160;</FONT></P>
                            </TD>
                        </TR>
                        <TR style="min-height: 3pt; ">
                            <TD style="background-color: #cceeff; border-top: 0pt; padding-top: 1pt; border-right: 0pt; border-left: 0pt; padding-left: 0pt; vertical-align: top; padding-bottom: 1pt; border-bottom: 0pt; padding-right: 0pt; ">
                                <P style="margin-left: 0pt; color: #000000; font-size: 9pt; font-family: Arial, sans-serif; line-height: normal; margin-top: 0; margin-bottom: 0; text-align: right; margin-right: 0pt; "><FONT style="float: left; "><FONT>$</FONT></FONT><FONT style="float: right; "><FONT>400,000</FONT></FONT><FONT style="font-size: 9pt; ">&#8203;</FONT>                                    <BR clear="all"></P>
                            </TD>
                            <TD style="background-color: #cceeff; border-top: 0pt; padding-top: 0pt; border-right: 0pt; border-left: 0pt; padding-left: 0pt; vertical-align: bottom; padding-bottom: 0pt; border-bottom: 0pt; padding-right: 0pt; ">
                                <P style="margin-left: 0pt; font-size: 1pt; line-height: 1pt; margin-top: 0pt; margin-bottom: 0; margin-right: 0pt; ">&#8203;</P>
                            </TD>
                            <TD style="background-color: #cceeff; border-top: 0pt; padding-top: 1pt; border-right: 0pt; border-left: 0pt; padding-left: 0pt; vertical-align: bottom; padding-bottom: 1pt; border-bottom: 0pt; padding-right: 0pt; ">
                                <P style="margin-left: 11.25pt; color: #000000; text-indent: -11.25pt; font-size: 9pt; font-family: Arial, sans-serif; line-height: normal; margin-top: 0; margin-bottom: 0; text-align: left; margin-right: 0pt; "><FONT>Southern Company, 3.75% to 09/15/26 then <br>T5Y + 2.915%, 09/15/51, Series 2021-A </FONT></P>
                            </TD>
                            <TD style="background-color: #cceeff; border-top: 0pt; padding-top: 1pt; border-right: 0pt; border-left: 0pt; padding-left: 0pt; vertical-align: bottom; padding-bottom: 1pt; border-bottom: 0pt; padding-right: 0pt; ">
                                <P style="margin-left: 0pt; color: #000000; font-size: 9pt; font-family: Arial, sans-serif; line-height: normal; margin-top: 0; margin-bottom: 0; text-align: right; margin-right: 0pt; "><A name="pfd-nportex_083125a1287"></A><FONT>&#160;395,459</FONT></P>
                            </TD>
                            <TD style="background-color: #cceeff; border-top: 0pt; padding-top: 1pt; border-right: 0pt; border-left: 0pt; padding-left: 0pt; vertical-align: bottom; padding-bottom: 1pt; border-bottom: 0pt; padding-right: 0pt; ">
                                <P style="margin-left: 0pt; color: #000000; text-indent: 0pt; font-size: 9pt; font-family: Arial, sans-serif; line-height: normal; margin-top: 0; margin-bottom: 0; text-align: left; margin-right: 0pt; "><SUP style="font-size: 7.0pt; line-height: 7.0pt; ">(2)</SUP><FONT>&#160;</FONT></P>
                            </TD>
                        </TR>
                        <TR style="min-height: 3pt; ">
                            <TD style="border-top: 0pt; padding-top: 1pt; border-right: 0pt; border-left: 0pt; padding-left: 0pt; vertical-align: top; padding-bottom: 1pt; border-bottom: 0.5pt solid #000000; padding-right: 0pt; ">
                                <P style="margin-left: 0pt; color: #000000; font-size: 9pt; font-family: Arial, sans-serif; line-height: normal; margin-top: 0; margin-bottom: 0; text-align: right; margin-right: 0pt; "><FONT style="float: left; "><FONT>$</FONT></FONT><FONT style="float: right; "><FONT>150,000</FONT></FONT><FONT style="font-size: 9pt; ">&#8203;</FONT>                                    <BR clear="all"></P>
                            </TD>
                            <TD style="border-top: 0pt; padding-top: 0pt; border-right: 0pt; border-left: 0pt; padding-left: 0pt; vertical-align: bottom; padding-bottom: 0pt; border-bottom: 0.5pt solid #000000; padding-right: 0pt; ">
                                <P style="margin-left: 0pt; font-size: 1pt; line-height: 1pt; margin-top: 0pt; margin-bottom: 0; margin-right: 0pt; ">&#8203;</P>
                            </TD>
                            <TD style="border-top: 0pt; padding-top: 1pt; border-right: 0pt; border-left: 0pt; padding-left: 0pt; vertical-align: bottom; padding-bottom: 1pt; border-bottom: 0.5pt solid #000000; padding-right: 0pt; ">
                                <P style="margin-left: 11.25pt; color: #000000; text-indent: -11.25pt; font-size: 9pt; font-family: Arial, sans-serif; line-height: normal; margin-top: 0; margin-bottom: 0; text-align: left; margin-right: 0pt; "><FONT>Vistra Corporation, 7.00% to 12/15/26 then T5Y + 5.74%, Series B, 144A**** </FONT></P>
                            </TD>
                            <TD style="border-top: 0pt; padding-top: 1pt; border-right: 0pt; border-left: 0pt; padding-left: 0pt; vertical-align: bottom; padding-bottom: 1pt; border-bottom: 0.5pt solid #000000; padding-right: 0pt; ">
                                <P style="margin-left: 0pt; color: #000000; font-size: 9pt; font-family: Arial, sans-serif; line-height: normal; margin-top: 0; margin-bottom: 0; text-align: right; margin-right: 0pt; "><A name="pfd-nportex_083125a1288"></A><FONT>&#160;152,246</FONT></P>
                            </TD>
                            <TD style="border-top: 0pt; padding-top: 1pt; border-right: 0pt; border-left: 0pt; padding-left: 0pt; vertical-align: bottom; padding-bottom: 1pt; border-bottom: 0pt; padding-right: 0pt; ">
                                <P style="margin-left: 0pt; color: #000000; text-indent: 0pt; font-size: 9pt; font-family: Arial, sans-serif; line-height: normal; margin-top: 0; margin-bottom: 0; text-align: left; margin-right: 0pt; "><FONT>*</FONT><SUP style="font-size: 7.0pt; line-height: 7.0pt; ">(1)</SUP><FONT>&#160;</FONT></P>
                            </TD>
                        </TR>
                        <TR style="min-height: 3pt; ">
                            <TD style="background-color: #cceeff; border-top: 0.5pt solid #000000; padding-top: 1pt; border-right: 0pt; border-left: 0pt; padding-left: 0pt; vertical-align: top; padding-bottom: 1pt; border-bottom: 0pt; padding-right: 0pt; ">
                                <P style="margin-left: 0pt; color: #000000; font-size: 9pt; font-family: Arial, sans-serif; line-height: normal; margin-top: 0; margin-bottom: 0; text-align: right; margin-right: 0pt; "><FONT>&#160;</FONT></P>
                            </TD>
                            <TD style="background-color: #cceeff; border-top: 0.5pt solid #000000; padding-top: 0pt; border-right: 0pt; border-left: 0pt; padding-left: 0pt; vertical-align: bottom; padding-bottom: 0pt; border-bottom: 0pt; padding-right: 0pt; ">
                                <P style="margin-left: 0pt; font-size: 1pt; line-height: 1pt; margin-top: 0pt; margin-bottom: 0; margin-right: 0pt; ">&#8203;</P>
                            </TD>
                            <TD style="background-color: #cceeff; border-top: 0.5pt solid #000000; padding-top: 0pt; border-right: 0pt; border-left: 0pt; padding-left: 0pt; vertical-align: bottom; padding-bottom: 0pt; border-bottom: 0pt; padding-right: 0pt; ">
                                <P style="margin-left: 0pt; font-size: 1pt; line-height: 1pt; margin-top: 0pt; margin-bottom: 0; margin-right: 0pt; ">&#8203;</P>
                            </TD>
                            <TD style="background-color: #cceeff; border-top: 0.5pt solid #000000; padding-top: 1pt; border-right: 0pt; border-left: 0pt; padding-left: 0pt; vertical-align: bottom; padding-bottom: 1pt; border-bottom: 0.5pt solid #000000; padding-right: 0pt; ">
                                <P style="margin-left: 0pt; color: #000000; font-size: 9pt; font-family: Arial, sans-serif; line-height: normal; margin-top: 0; margin-bottom: 0; text-align: right; margin-right: 0pt; "><A name="pfd-nportex_083125a1289"></A><FONT>&#160;30,039,226</FONT></P>
                            </TD>
                            <TD style="background-color: #cceeff; border-top: 0pt; padding-top: 0pt; border-right: 0pt; border-left: 0pt; padding-left: 0pt; vertical-align: bottom; padding-bottom: 0pt; border-bottom: 0pt; padding-right: 0pt; ">
                                <P style="margin-left: 0pt; font-size: 1pt; line-height: 1pt; margin-top: 0pt; margin-bottom: 0; margin-right: 0pt; ">&#8203;</P>
                            </TD>
                        </TR>
                        <TR style="min-height: 3pt; ">
                            <TD style="border-top: 0pt; padding-top: 1pt; border-right: 0pt; border-left: 0pt; padding-left: 0pt; vertical-align: top; padding-bottom: 1pt; border-bottom: 0.5pt solid #000000; padding-right: 0pt; ">
                                <P style="margin-left: 0pt; color: #000000; font-size: 9pt; font-family: Arial, sans-serif; line-height: normal; margin-top: 0; margin-bottom: 0; text-align: right; margin-right: 0pt; "><FONT>&#160;</FONT></P>
                            </TD>
                            <TD style="border-top: 0pt; padding-top: 0pt; border-right: 0pt; border-left: 0pt; padding-left: 0pt; vertical-align: bottom; padding-bottom: 0pt; border-bottom: 0.5pt solid #000000; padding-right: 0pt; ">
                                <P style="margin-left: 0pt; font-size: 1pt; line-height: 1pt; margin-top: 0pt; margin-bottom: 0; margin-right: 0pt; ">&#8203;</P>
                            </TD>
                            <TD style="border-top: 0pt; padding-top: 1pt; border-right: 0pt; border-left: 0pt; padding-left: 0pt; vertical-align: bottom; padding-bottom: 1pt; border-bottom: 0.5pt solid #000000; padding-right: 0pt; ">
                                <P style="margin-left: 0pt; color: #000000; text-indent: 0pt; font-size: 9pt; font-family: Arial, sans-serif; line-height: normal; margin-top: 0; margin-bottom: 0; text-align: left; margin-right: 0pt; "><FONT style="font-weight: bold; "><B>Energy &#8212; 4.3%</B></FONT></P>
                            </TD>
                            <TD style="border-top: 0.5pt solid #000000; padding-top: 0pt; border-right: 0pt; border-left: 0pt; padding-left: 0pt; vertical-align: bottom; padding-bottom: 0pt; border-bottom: 0.5pt solid #000000; padding-right: 0pt; ">
                                <P style="margin-left: 0pt; font-size: 1pt; line-height: 1pt; margin-top: 0pt; margin-bottom: 0; margin-right: 0pt; ">&#8203;</P>
                            </TD>
                            <TD style="border-top: 0pt; padding-top: 0pt; border-right: 0pt; border-left: 0pt; padding-left: 0pt; vertical-align: bottom; padding-bottom: 0pt; border-bottom: 0pt; padding-right: 0pt; ">
                                <P style="margin-left: 0pt; font-size: 1pt; line-height: 1pt; margin-top: 0pt; margin-bottom: 0; margin-right: 0pt; ">&#8203;</P>
                            </TD>
                        </TR>
                        <TR style="min-height: 3pt; ">
                            <TD style="background-color: #cceeff; border-top: 0.5pt solid #000000; padding-top: 1pt; border-right: 0pt; border-left: 0pt; padding-left: 0pt; vertical-align: top; padding-bottom: 1pt; border-bottom: 0pt; padding-right: 0pt; ">
                                <P style="margin-left: 0pt; color: #000000; font-size: 9pt; font-family: Arial, sans-serif; line-height: normal; margin-top: 0; margin-bottom: 0; text-align: right; margin-right: 0pt; "><FONT>&#160;</FONT></P>
                            </TD>
                            <TD style="background-color: #cceeff; border-top: 0.5pt solid #000000; padding-top: 0pt; border-right: 0pt; border-left: 0pt; padding-left: 0pt; vertical-align: bottom; padding-bottom: 0pt; border-bottom: 0pt; padding-right: 0pt; ">
                                <P style="margin-left: 0pt; font-size: 1pt; line-height: 1pt; margin-top: 0pt; margin-bottom: 0; margin-right: 0pt; ">&#8203;</P>
                            </TD>
                            <TD style="background-color: #cceeff; border-top: 0.5pt solid #000000; padding-top: 1pt; border-right: 0pt; border-left: 0pt; padding-left: 0pt; vertical-align: bottom; padding-bottom: 1pt; border-bottom: 0pt; padding-right: 0pt; ">
                                <P style="margin-left: 11.25pt; color: #000000; text-indent: -11.25pt; font-size: 9pt; font-family: Arial, sans-serif; line-height: normal; margin-top: 0; margin-bottom: 0; text-align: left; margin-right: 0pt; "><FONT>Enbridge, Inc.:</FONT></P>
                            </TD>
                            <TD style="background-color: #cceeff; border-top: 0.5pt solid #000000; padding-top: 0pt; border-right: 0pt; border-left: 0pt; padding-left: 0pt; vertical-align: bottom; padding-bottom: 0pt; border-bottom: 0pt; padding-right: 0pt; ">
                                <P style="margin-left: 0pt; font-size: 1pt; line-height: 1pt; margin-top: 0pt; margin-bottom: 0; margin-right: 0pt; ">&#8203;</P>
                            </TD>
                            <TD style="background-color: #cceeff; border-top: 0pt; padding-top: 0pt; border-right: 0pt; border-left: 0pt; padding-left: 0pt; vertical-align: bottom; padding-bottom: 0pt; border-bottom: 0pt; padding-right: 0pt; ">
                                <P style="margin-left: 0pt; font-size: 1pt; line-height: 1pt; margin-top: 0pt; margin-bottom: 0; margin-right: 0pt; ">&#8203;</P>
                            </TD>
                        </TR>
                        <TR style="min-height: 3pt; ">
                            <TD style="border-top: 0pt; padding-top: 1pt; border-right: 0pt; border-left: 0pt; padding-left: 0pt; vertical-align: top; padding-bottom: 1pt; border-bottom: 0pt; padding-right: 0pt; ">
                                <P style="margin-left: 0pt; color: #000000; font-size: 9pt; font-family: Arial, sans-serif; line-height: normal; margin-top: 0; margin-bottom: 0; text-align: right; margin-right: 0pt; "><FONT style="float: left; "><FONT>$</FONT></FONT><FONT style="float: right; "><FONT>292,000</FONT></FONT><FONT style="font-size: 9pt; ">&#8203;</FONT>                                    <BR clear="all"></P>
                            </TD>
                            <TD style="border-top: 0pt; padding-top: 0pt; border-right: 0pt; border-left: 0pt; padding-left: 0pt; vertical-align: bottom; padding-bottom: 0pt; border-bottom: 0pt; padding-right: 0pt; ">
                                <P style="margin-left: 0pt; font-size: 1pt; line-height: 1pt; margin-top: 0pt; margin-bottom: 0; margin-right: 0pt; ">&#8203;</P>
                            </TD>
                            <TD style="border-top: 0pt; padding-top: 1pt; border-right: 0pt; border-left: 0pt; padding-left: 0pt; vertical-align: bottom; padding-bottom: 1pt; border-bottom: 0pt; padding-right: 0pt; ">
                                <P style="margin-left: 22.5pt; color: #000000; text-indent: -11.25pt; font-size: 9pt; font-family: Arial, sans-serif; line-height: normal; margin-top: 0; margin-bottom: 0; text-align: left; margin-right: 0pt; "><FONT>5.75% to 07/15/30 then T5Y + 5.314%, 07/15/80, Series 2020-A </FONT></P>
                            </TD>
                            <TD style="border-top: 0pt; padding-top: 1pt; border-right: 0pt; border-left: 0pt; padding-left: 0pt; vertical-align: bottom; padding-bottom: 1pt; border-bottom: 0pt; padding-right: 0pt; ">
                                <P style="margin-left: 0pt; color: #000000; font-size: 9pt; font-family: Arial, sans-serif; line-height: normal; margin-top: 0; margin-bottom: 0; text-align: right; margin-right: 0pt; "><A name="pfd-nportex_083125a1290"></A><FONT>&#160;292,605</FONT></P>
                            </TD>
                            <TD style="border-top: 0pt; padding-top: 1pt; border-right: 0pt; border-left: 0pt; padding-left: 0pt; vertical-align: bottom; padding-bottom: 1pt; border-bottom: 0pt; padding-right: 0pt; ">
                                <P style="margin-left: 0pt; color: #000000; text-indent: 0pt; font-size: 9pt; font-family: Arial, sans-serif; line-height: normal; margin-top: 0; margin-bottom: 0; text-align: left; margin-right: 0pt; "><SUP style="font-size: 7.0pt; line-height: 7.0pt; ">(5)</SUP><FONT>&#160;</FONT></P>
                            </TD>
                        </TR>
                        <TR style="min-height: 3pt; ">
                            <TD style="background-color: #cceeff; border-top: 0pt; padding-top: 1pt; border-right: 0pt; border-left: 0pt; padding-left: 0pt; vertical-align: top; padding-bottom: 1pt; border-bottom: 0pt; padding-right: 0pt; ">
                                <P style="margin-left: 0pt; color: #000000; font-size: 9pt; font-family: Arial, sans-serif; line-height: normal; margin-top: 0; margin-bottom: 0; text-align: right; margin-right: 0pt; "><FONT style="float: left; "><FONT>$</FONT></FONT><FONT style="float: right; "><FONT>1,120,000</FONT></FONT><FONT style="font-size: 9pt; ">&#8203;</FONT>                                    <BR clear="all"></P>
                            </TD>
                            <TD style="background-color: #cceeff; border-top: 0pt; padding-top: 0pt; border-right: 0pt; border-left: 0pt; padding-left: 0pt; vertical-align: bottom; padding-bottom: 0pt; border-bottom: 0pt; padding-right: 0pt; ">
                                <P style="margin-left: 0pt; font-size: 1pt; line-height: 1pt; margin-top: 0pt; margin-bottom: 0; margin-right: 0pt; ">&#8203;</P>
                            </TD>
                            <TD style="background-color: #cceeff; border-top: 0pt; padding-top: 1pt; border-right: 0pt; border-left: 0pt; padding-left: 0pt; vertical-align: bottom; padding-bottom: 1pt; border-bottom: 0pt; padding-right: 0pt; ">
                                <P style="margin-left: 22.5pt; color: #000000; text-indent: -11.25pt; font-size: 9pt; font-family: Arial, sans-serif; line-height: normal; margin-top: 0; margin-bottom: 0; text-align: left; margin-right: 0pt; "><FONT>6.00% to 01/15/27 then TSFR3M + 4.15161%, 01/15/77, Series 2016-A </FONT></P>
                            </TD>
                            <TD style="background-color: #cceeff; border-top: 0pt; padding-top: 1pt; border-right: 0pt; border-left: 0pt; padding-left: 0pt; vertical-align: bottom; padding-bottom: 1pt; border-bottom: 0pt; padding-right: 0pt; ">
                                <P style="margin-left: 0pt; color: #000000; font-size: 9pt; font-family: Arial, sans-serif; line-height: normal; margin-top: 0; margin-bottom: 0; text-align: right; margin-right: 0pt; "><A name="pfd-nportex_083125a1291"></A><FONT>&#160;1,125,014</FONT></P>
                            </TD>
                            <TD style="background-color: #cceeff; border-top: 0pt; padding-top: 1pt; border-right: 0pt; border-left: 0pt; padding-left: 0pt; vertical-align: bottom; padding-bottom: 1pt; border-bottom: 0pt; padding-right: 0pt; ">
                                <P style="margin-left: 0pt; color: #000000; text-indent: 0pt; font-size: 9pt; font-family: Arial, sans-serif; line-height: normal; margin-top: 0; margin-bottom: 0; text-align: left; margin-right: 0pt; "><SUP style="font-size: 7.0pt; line-height: 7.0pt; ">(2)(3)(5)</SUP><FONT>&#160;</FONT></P>
                            </TD>
                        </TR>
                        <TR style="min-height: 3pt; ">
                            <TD style="border-top: 0pt; padding-top: 1pt; border-right: 0pt; border-left: 0pt; padding-left: 0pt; vertical-align: top; padding-bottom: 1pt; border-bottom: 0pt; padding-right: 0pt; ">
                                <P style="margin-left: 0pt; color: #000000; font-size: 9pt; font-family: Arial, sans-serif; line-height: normal; margin-top: 0; margin-bottom: 0; text-align: right; margin-right: 0pt; "><FONT style="float: left; "><FONT>$</FONT></FONT><FONT style="float: right; "><FONT>1,670,000</FONT></FONT><FONT style="font-size: 9pt; ">&#8203;</FONT>                                    <BR clear="all"></P>
                            </TD>
                            <TD style="border-top: 0pt; padding-top: 0pt; border-right: 0pt; border-left: 0pt; padding-left: 0pt; vertical-align: bottom; padding-bottom: 0pt; border-bottom: 0pt; padding-right: 0pt; ">
                                <P style="margin-left: 0pt; font-size: 1pt; line-height: 1pt; margin-top: 0pt; margin-bottom: 0; margin-right: 0pt; ">&#8203;</P>
                            </TD>
                            <TD style="border-top: 0pt; padding-top: 1pt; border-right: 0pt; border-left: 0pt; padding-left: 0pt; vertical-align: bottom; padding-bottom: 1pt; border-bottom: 0pt; padding-right: 0pt; ">
                                <P style="margin-left: 22.5pt; color: #000000; text-indent: -11.25pt; font-size: 9pt; font-family: Arial, sans-serif; line-height: normal; margin-top: 0; margin-bottom: 0; text-align: left; margin-right: 0pt; "><FONT>7.375% to 03/15/30 then T5Y + 3.122%, 03/15/55, Series A </FONT></P>
                            </TD>
                            <TD style="border-top: 0pt; padding-top: 1pt; border-right: 0pt; border-left: 0pt; padding-left: 0pt; vertical-align: bottom; padding-bottom: 1pt; border-bottom: 0pt; padding-right: 0pt; ">
                                <P style="margin-left: 0pt; color: #000000; font-size: 9pt; font-family: Arial, sans-serif; line-height: normal; margin-top: 0; margin-bottom: 0; text-align: right; margin-right: 0pt; "><A name="pfd-nportex_083125a1292"></A><FONT>&#160;1,758,574</FONT></P>
                            </TD>
                            <TD style="border-top: 0pt; padding-top: 1pt; border-right: 0pt; border-left: 0pt; padding-left: 0pt; vertical-align: bottom; padding-bottom: 1pt; border-bottom: 0pt; padding-right: 0pt; ">
                                <P style="margin-left: 0pt; color: #000000; text-indent: 0pt; font-size: 9pt; font-family: Arial, sans-serif; line-height: normal; margin-top: 0; margin-bottom: 0; text-align: left; margin-right: 0pt; "><SUP style="font-size: 7.0pt; line-height: 7.0pt; ">(2)(3)(5)</SUP><FONT>&#160;</FONT></P>
                            </TD>
                        </TR>
                        <TR style="min-height: 3pt; ">
                            <TD style="background-color: #cceeff; border-top: 0pt; padding-top: 1pt; border-right: 0pt; border-left: 0pt; padding-left: 0pt; vertical-align: top; padding-bottom: 1pt; border-bottom: 0pt; padding-right: 0pt; ">
                                <P style="margin-left: 0pt; color: #000000; font-size: 9pt; font-family: Arial, sans-serif; line-height: normal; margin-top: 0; margin-bottom: 0; text-align: right; margin-right: 0pt; "><FONT style="float: left; "><FONT>$</FONT></FONT><FONT style="float: right; "><FONT>800,000</FONT></FONT><FONT style="font-size: 9pt; ">&#8203;</FONT>                                    <BR clear="all"></P>
                            </TD>
                            <TD style="background-color: #cceeff; border-top: 0pt; padding-top: 0pt; border-right: 0pt; border-left: 0pt; padding-left: 0pt; vertical-align: bottom; padding-bottom: 0pt; border-bottom: 0pt; padding-right: 0pt; ">
                                <P style="margin-left: 0pt; font-size: 1pt; line-height: 1pt; margin-top: 0pt; margin-bottom: 0; margin-right: 0pt; ">&#8203;</P>
                            </TD>
                            <TD style="background-color: #cceeff; border-top: 0pt; padding-top: 1pt; border-right: 0pt; border-left: 0pt; padding-left: 0pt; vertical-align: bottom; padding-bottom: 1pt; border-bottom: 0pt; padding-right: 0pt; ">
                                <P style="margin-left: 22.5pt; color: #000000; text-indent: -11.25pt; font-size: 9pt; font-family: Arial, sans-serif; line-height: normal; margin-top: 0; margin-bottom: 0; text-align: left; margin-right: 0pt; "><FONT>8.50% to 01/15/34 then T5Y + 4.431%, 01/15/84, Series 2023-B </FONT></P>
                            </TD>
                            <TD style="background-color: #cceeff; border-top: 0pt; padding-top: 1pt; border-right: 0pt; border-left: 0pt; padding-left: 0pt; vertical-align: bottom; padding-bottom: 1pt; border-bottom: 0pt; padding-right: 0pt; ">
                                <P style="margin-left: 0pt; color: #000000; font-size: 9pt; font-family: Arial, sans-serif; line-height: normal; margin-top: 0; margin-bottom: 0; text-align: right; margin-right: 0pt; "><A name="pfd-nportex_083125a1293"></A><FONT>&#160;906,971</FONT></P>
                            </TD>
                            <TD style="background-color: #cceeff; border-top: 0pt; padding-top: 1pt; border-right: 0pt; border-left: 0pt; padding-left: 0pt; vertical-align: bottom; padding-bottom: 1pt; border-bottom: 0pt; padding-right: 0pt; ">
                                <P style="margin-left: 0pt; color: #000000; text-indent: 0pt; font-size: 9pt; font-family: Arial, sans-serif; line-height: normal; margin-top: 0; margin-bottom: 0; text-align: left; margin-right: 0pt; "><SUP style="font-size: 7.0pt; line-height: 7.0pt; ">(2)(5)&#160;</SUP><FONT>&#160;</FONT></P>
                            </TD>
                        </TR>
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        <DIV style="page-break-before: always; ">
            <P style="font-size: 5pt; margin: 0pt; ">&#8203;</P>
        </DIV>
        <DIV style="margin: auto; overflow: hidden; width: 675.0pt; position: relative; border-bottom: 2pt solid black; height: 765.0pt; ">
            <DIV style="border: 0pt; padding-top: 0pt; top: 697.5pt; left: 33.75pt; padding-left: 0pt; width: 607.5pt; padding-bottom: 0pt; position: absolute; padding-right: 0pt; height: 33.75pt; ">
                <DIV style="vertical-align: bottom; width: 607.5pt; display: table-cell; height: 33.75pt; ">
                    <!-- [if IE]><TABLE><TR style=" width: 607.5pt; height: 33.75pt;"><TD vAlign="bottom" style=" width: 607.5pt; height: 33.75pt;"><![endif]-->
                    <P style="margin-left: 0pt; color: #000000; text-indent: 0pt; font-size: 12pt; font-family: Times New Roman, Times, serif; margin-top: 0pt; margin-bottom: 0pt; text-align: center; margin-right: 0pt; "><FONT style="font-size: 8pt; font-family: Arial, sans-serif; "> <br></FONT><FONT style="font-size: 10pt; font-family: Arial, sans-serif; ">7</FONT></P>
                    <!-- [if IE]></TD></TR></TABLE><![endif]-->
                </DIV>
            </DIV>
            <DIV style="border: 0pt; padding-top: 0pt; top: 33.75pt; left: 33.75pt; padding-left: 0pt; width: 607.5pt; padding-bottom: 0pt; position: absolute; padding-right: 0pt; height: 86.25pt; ">
                <P style="border-top: 1pt solid ; margin-left: 0pt; color: #000000; font-size: 12pt; font-family: Times New Roman, Times, serif; margin-top: 0pt; margin-bottom: 0pt; text-align: right; margin-right: 0pt; "><FONT style="font-size: 8pt; font-family: Arial, sans-serif; ">&#160;</FONT></P>
                <P style="margin-left: 0pt; color: #000000; font-size: 12pt; font-family: Times New Roman, Times, serif; margin-top: 0pt; margin-bottom: 0pt; text-align: right; margin-right: 0pt; "><FONT style="font-size: 8pt; font-family: Arial, sans-serif; ">Flaherty &amp; Crumrine Preferred and Income Fund Incorporated</FONT></P>
                <P style="margin-left: 0pt; color: #000000; font-size: 12pt; font-family: Times New Roman, Times, serif; margin-top: 0pt; margin-bottom: 0pt; text-align: right; margin-right: 0pt; "><FONT style="font-family: Arial, sans-serif; ">PORTFOLIO OF INVESTMENTS (Continued)</FONT></P>
                <P style="margin-left: 0pt; color: #000000; font-size: 12pt; font-family: Times New Roman, Times, serif; margin-top: 0pt; margin-bottom: 0pt; text-align: right; margin-right: 0pt; "><FONT style="font-size: 10pt; font-family: Arial, sans-serif; ">August 31, 2025&#160;(Unaudited)</FONT></P>
                <P style="margin-left: 0pt; color: #000000; font-size: 12pt; font-family: Times New Roman, Times, serif; margin-top: 0pt; margin-bottom: 0pt; border-bottom: 1pt solid ; text-align: right; margin-right: 0pt; "><FONT style="font-size: 8pt; font-family: Arial, sans-serif; ">&#160;</FONT></P>
            </DIV>
            <DIV style="border: 0pt; padding-top: 0pt; top: 120pt; left: 33.75pt; padding-left: 0pt; width: 607.5pt; padding-bottom: 0pt; position: absolute; padding-right: 0pt; height: 577.5pt; ">
                <DIV style="margin-left: 0pt; color: #000000; font-size: 9pt; font-family: Arial, sans-serif; line-height: 11pt; margin-top: 0pt; margin-bottom: 0pt; text-align: justify; margin-right: 0pt; ">
                    <TABLE style="width: 623.75pt; margin-top: 0pt; margin-bottom: 0pt; table-layout: fixed; border-collapse: collapse; ">
                        <TR style="margin: 0; height: 0; ">
                            <TD style="border: 0; width: 68.75pt; padding: 0; margin: 0; ">
                            </TD>
                            <TD style="border: 0; width: 15.0pt; padding: 0; margin: 0; ">
                            </TD>
                            <TD style="border: 0; width: 412.5pt; padding: 0; margin: 0; ">
                            </TD>
                            <TD style="border: 0; width: 82.5pt; padding: 0; margin: 0; ">
                            </TD>
                            <TD style="border: 0; width: 45.0pt; padding: 0; margin: 0; ">
                            </TD>
                        </TR>
                        <TR style="min-height: 3pt; ">
                            <TD style="border-top: 0pt; padding-top: 1pt; border-right: 0pt; border-left: 0pt; padding-left: 0pt; vertical-align: bottom; padding-bottom: 1pt; border-bottom: 0.5pt solid #000000; padding-right: 0pt; ">
                                <P style="margin-left: 0pt; color: #000000; text-indent: 0pt; font-size: 8pt; font-family: Arial, sans-serif; line-height: normal; margin-top: 0; margin-bottom: 0; text-align: center; margin-right: 0pt; "><FONT style="font-weight: bold; "><B>Shares/$ Par</B></FONT></P>
                            </TD>
                            <TD style="border-top: 0pt; padding-top: 0pt; border-right: 0pt; border-left: 0pt; padding-left: 0pt; vertical-align: top; padding-bottom: 0pt; border-bottom: 0.5pt solid #000000; padding-right: 0pt; ">
                                <P style="margin-left: 0pt; font-size: 1pt; line-height: 1pt; margin-top: 0pt; margin-bottom: 0; margin-right: 0pt; ">&#8203;</P>
                            </TD>
                            <TD style="border-top: 0pt; padding-top: 0pt; border-right: 0pt; border-left: 0pt; padding-left: 0pt; vertical-align: bottom; padding-bottom: 0pt; border-bottom: 0.5pt solid #000000; padding-right: 0pt; ">
                                <P style="margin-left: 0pt; font-size: 1pt; line-height: 1pt; margin-top: 0pt; margin-bottom: 0; margin-right: 0pt; ">&#8203;</P>
                            </TD>
                            <TD style="border-top: 0pt; padding-top: 1pt; border-right: 0pt; border-left: 0pt; padding-left: 0pt; vertical-align: bottom; padding-bottom: 1pt; border-bottom: 0.5pt solid #000000; padding-right: 0pt; ">
                                <P style="margin-left: 0pt; color: #000000; text-indent: 0pt; font-size: 8pt; font-family: Arial, sans-serif; line-height: normal; margin-top: 0; margin-bottom: 0; text-align: center; margin-right: 0pt; "><FONT style="font-weight: bold; "><B>Value</B></FONT></P>
                            </TD>
                            <TD style="border-top: 0pt; padding-top: 0pt; border-right: 0pt; border-left: 0pt; padding-left: 0pt; vertical-align: bottom; padding-bottom: 0pt; border-bottom: 0pt; padding-right: 0pt; ">
                                <P style="margin-left: 0pt; font-size: 1pt; line-height: 1pt; margin-top: 0pt; margin-bottom: 0; margin-right: 0pt; ">&#8203;</P>
                            </TD>
                        </TR>
                        <TR style="min-height: 3pt; ">
                            <TD style="border-top: 0pt; padding-top: 1pt; border-right: 0pt; border-left: 0pt; padding-left: 0pt; vertical-align: top; padding-bottom: 1pt; border-bottom: 0pt; padding-right: 0pt; ">
                                <P style="margin-left: 0pt; color: #000000; font-size: 9pt; font-family: Arial, sans-serif; line-height: normal; margin-top: 0; margin-bottom: 0; text-align: right; margin-right: 0pt; "><FONT>&#160;</FONT></P>
                            </TD>
                            <TD style="border-top: 0pt; padding-top: 0pt; border-right: 0pt; border-left: 0pt; padding-left: 0pt; vertical-align: bottom; padding-bottom: 0pt; border-bottom: 0pt; padding-right: 0pt; ">
                                <P style="margin-left: 0pt; font-size: 1pt; line-height: 1pt; margin-top: 0pt; margin-bottom: 0; margin-right: 0pt; ">&#8203;</P>
                            </TD>
                            <TD style="border-top: 0pt; padding-top: 1pt; border-right: 0pt; border-left: 0pt; padding-left: 0pt; vertical-align: bottom; padding-bottom: 1pt; border-bottom: 0pt; padding-right: 0pt; ">
                                <P style="margin-left: 11.25pt; color: #000000; text-indent: -11.25pt; font-size: 9pt; font-family: Arial, sans-serif; line-height: normal; margin-top: 0; margin-bottom: 0; text-align: left; margin-right: 0pt; "><FONT>Energy Transfer LP:</FONT></P>
                            </TD>
                            <TD style="border-top: 0pt; padding-top: 0pt; border-right: 0pt; border-left: 0pt; padding-left: 0pt; vertical-align: bottom; padding-bottom: 0pt; border-bottom: 0pt; padding-right: 0pt; ">
                                <P style="margin-left: 0pt; font-size: 1pt; line-height: 1pt; margin-top: 0pt; margin-bottom: 0; margin-right: 0pt; ">&#8203;</P>
                            </TD>
                            <TD style="border-top: 0pt; padding-top: 0pt; border-right: 0pt; border-left: 0pt; padding-left: 0pt; vertical-align: bottom; padding-bottom: 0pt; border-bottom: 0pt; padding-right: 0pt; ">
                                <P style="margin-left: 0pt; font-size: 1pt; line-height: 1pt; margin-top: 0pt; margin-bottom: 0; margin-right: 0pt; ">&#8203;</P>
                            </TD>
                        </TR>
                        <TR style="min-height: 3pt; ">
                            <TD style="background-color: #cceeff; border-top: 0pt; padding-top: 1pt; border-right: 0pt; border-left: 0pt; padding-left: 0pt; vertical-align: top; padding-bottom: 1pt; border-bottom: 0pt; padding-right: 0pt; ">
                                <P style="margin-left: 0pt; color: #000000; font-size: 9pt; font-family: Arial, sans-serif; line-height: normal; margin-top: 0; margin-bottom: 0; text-align: right; margin-right: 0pt; "><FONT style="float: left; "><FONT>$</FONT></FONT><FONT style="float: right; "><FONT>500,000</FONT></FONT><FONT style="font-size: 9pt; ">&#8203;</FONT>                                    <BR clear="all"></P>
                            </TD>
                            <TD style="background-color: #cceeff; border-top: 0pt; padding-top: 0pt; border-right: 0pt; border-left: 0pt; padding-left: 0pt; vertical-align: bottom; padding-bottom: 0pt; border-bottom: 0pt; padding-right: 0pt; ">
                                <P style="margin-left: 0pt; font-size: 1pt; line-height: 1pt; margin-top: 0pt; margin-bottom: 0; margin-right: 0pt; ">&#8203;</P>
                            </TD>
                            <TD style="background-color: #cceeff; border-top: 0pt; padding-top: 1pt; border-right: 0pt; border-left: 0pt; padding-left: 0pt; vertical-align: bottom; padding-bottom: 1pt; border-bottom: 0pt; padding-right: 0pt; ">
                                <P style="margin-left: 22.5pt; color: #000000; text-indent: -11.25pt; font-size: 9pt; font-family: Arial, sans-serif; line-height: normal; margin-top: 0; margin-bottom: 0; text-align: left; margin-right: 0pt; "><FONT>6.75% to 02/15/36 then T5Y + 2.475%, 02/15/56, Series B </FONT></P>
                            </TD>
                            <TD style="background-color: #cceeff; border-top: 0pt; padding-top: 1pt; border-right: 0pt; border-left: 0pt; padding-left: 0pt; vertical-align: bottom; padding-bottom: 1pt; border-bottom: 0pt; padding-right: 0pt; ">
                                <P style="margin-left: 0pt; color: #000000; font-size: 9pt; font-family: Arial, sans-serif; line-height: normal; margin-top: 0; margin-bottom: 0; text-align: right; margin-right: 0pt; "><FONT style="float: left; "><FONT>$</FONT></FONT><FONT style="float: right; "><A name="pfd-nportex_083125a1294"></A><FONT>&#160;498,800</FONT></FONT><FONT style="font-size: 9pt; ">&#8203;</FONT>                                    <BR clear="all"></P>
                            </TD>
                            <TD style="background-color: #cceeff; border-top: 0pt; padding-top: 0pt; border-right: 0pt; border-left: 0pt; padding-left: 0pt; vertical-align: bottom; padding-bottom: 0pt; border-bottom: 0pt; padding-right: 0pt; ">
                                <P style="margin-left: 0pt; font-size: 1pt; line-height: 1pt; margin-top: 0pt; margin-bottom: 0; margin-right: 0pt; ">&#8203;</P>
                            </TD>
                        </TR>
                        <TR style="min-height: 3pt; ">
                            <TD style="border-top: 0pt; padding-top: 1pt; border-right: 0pt; border-left: 0pt; padding-left: 0pt; vertical-align: top; padding-bottom: 1pt; border-bottom: 0pt; padding-right: 0pt; ">
                                <P style="margin-left: 0pt; color: #000000; font-size: 9pt; font-family: Arial, sans-serif; line-height: normal; margin-top: 0; margin-bottom: 0; text-align: right; margin-right: 0pt; "><FONT style="float: left; "><FONT>$</FONT></FONT><FONT style="float: right; "><FONT>1,275,000</FONT></FONT><FONT style="font-size: 9pt; ">&#8203;</FONT>                                    <BR clear="all"></P>
                            </TD>
                            <TD style="border-top: 0pt; padding-top: 0pt; border-right: 0pt; border-left: 0pt; padding-left: 0pt; vertical-align: bottom; padding-bottom: 0pt; border-bottom: 0pt; padding-right: 0pt; ">
                                <P style="margin-left: 0pt; font-size: 1pt; line-height: 1pt; margin-top: 0pt; margin-bottom: 0; margin-right: 0pt; ">&#8203;</P>
                            </TD>
                            <TD style="border-top: 0pt; padding-top: 1pt; border-right: 0pt; border-left: 0pt; padding-left: 0pt; vertical-align: bottom; padding-bottom: 1pt; border-bottom: 0pt; padding-right: 0pt; ">
                                <P style="margin-left: 22.5pt; color: #000000; text-indent: -11.25pt; font-size: 9pt; font-family: Arial, sans-serif; line-height: normal; margin-top: 0; margin-bottom: 0; text-align: left; margin-right: 0pt; "><FONT>7.125% to 05/15/30 then T5Y + 5.306%, Series G </FONT></P>
                            </TD>
                            <TD style="border-top: 0pt; padding-top: 1pt; border-right: 0pt; border-left: 0pt; padding-left: 0pt; vertical-align: bottom; padding-bottom: 1pt; border-bottom: 0pt; padding-right: 0pt; ">
                                <P style="margin-left: 0pt; color: #000000; font-size: 9pt; font-family: Arial, sans-serif; line-height: normal; margin-top: 0; margin-bottom: 0; text-align: right; margin-right: 0pt; "><A name="pfd-nportex_083125a1295"></A><FONT>&#160;1,311,570</FONT></P>
                            </TD>
                            <TD style="border-top: 0pt; padding-top: 1pt; border-right: 0pt; border-left: 0pt; padding-left: 0pt; vertical-align: bottom; padding-bottom: 1pt; border-bottom: 0pt; padding-right: 0pt; ">
                                <P style="margin-left: 0pt; color: #000000; text-indent: 0pt; font-size: 9pt; font-family: Arial, sans-serif; line-height: normal; margin-top: 0; margin-bottom: 0; text-align: left; margin-right: 0pt; "><SUP style="font-size: 7.0pt; line-height: 7.0pt; ">(1)(2)(3)</SUP><FONT>&#160;</FONT></P>
                            </TD>
                        </TR>
                        <TR style="min-height: 3pt; ">
                            <TD style="background-color: #cceeff; border-top: 0pt; padding-top: 1pt; border-right: 0pt; border-left: 0pt; padding-left: 0pt; vertical-align: top; padding-bottom: 1pt; border-bottom: 0pt; padding-right: 0pt; ">
                                <P style="margin-left: 0pt; color: #000000; font-size: 9pt; font-family: Arial, sans-serif; line-height: normal; margin-top: 0; margin-bottom: 0; text-align: right; margin-right: 0pt; "><FONT style="float: left; "><FONT>$</FONT></FONT><FONT style="float: right; "><FONT>900,000</FONT></FONT><FONT style="font-size: 9pt; ">&#8203;</FONT>                                    <BR clear="all"></P>
                            </TD>
                            <TD style="background-color: #cceeff; border-top: 0pt; padding-top: 0pt; border-right: 0pt; border-left: 0pt; padding-left: 0pt; vertical-align: bottom; padding-bottom: 0pt; border-bottom: 0pt; padding-right: 0pt; ">
                                <P style="margin-left: 0pt; font-size: 1pt; line-height: 1pt; margin-top: 0pt; margin-bottom: 0; margin-right: 0pt; ">&#8203;</P>
                            </TD>
                            <TD style="background-color: #cceeff; border-top: 0pt; padding-top: 1pt; border-right: 0pt; border-left: 0pt; padding-left: 0pt; vertical-align: bottom; padding-bottom: 1pt; border-bottom: 0pt; padding-right: 0pt; ">
                                <P style="margin-left: 22.5pt; color: #000000; text-indent: -11.25pt; font-size: 9pt; font-family: Arial, sans-serif; line-height: normal; margin-top: 0; margin-bottom: 0; text-align: left; margin-right: 0pt; "><FONT>8.00% to 05/15/29 then T5Y + 4.02%, 05/15/54 </FONT></P>
                            </TD>
                            <TD style="background-color: #cceeff; border-top: 0pt; padding-top: 1pt; border-right: 0pt; border-left: 0pt; padding-left: 0pt; vertical-align: bottom; padding-bottom: 1pt; border-bottom: 0pt; padding-right: 0pt; ">
                                <P style="margin-left: 0pt; color: #000000; font-size: 9pt; font-family: Arial, sans-serif; line-height: normal; margin-top: 0; margin-bottom: 0; text-align: right; margin-right: 0pt; "><FONT>959,431</FONT></P>
                            </TD>
                            <TD style="background-color: #cceeff; border-top: 0pt; padding-top: 1pt; border-right: 0pt; border-left: 0pt; padding-left: 0pt; vertical-align: bottom; padding-bottom: 1pt; border-bottom: 0pt; padding-right: 0pt; ">
                                <P style="margin-left: 0pt; color: #000000; text-indent: 0pt; font-size: 9pt; font-family: Arial, sans-serif; line-height: normal; margin-top: 0; margin-bottom: 0; text-align: left; margin-right: 0pt; "><SUP style="font-size: 7.0pt; line-height: 7.0pt; ">(2)</SUP><FONT>&#160;</FONT></P>
                            </TD>
                        </TR>
                        <TR style="min-height: 3pt; ">
                            <TD style="border-top: 0pt; padding-top: 1pt; border-right: 0pt; border-left: 0pt; padding-left: 0pt; vertical-align: top; padding-bottom: 1pt; border-bottom: 0pt; padding-right: 0pt; ">
                                <P style="margin-left: 0pt; color: #000000; font-size: 9pt; font-family: Arial, sans-serif; line-height: normal; margin-top: 0; margin-bottom: 0; text-align: right; margin-right: 0pt; "><FONT style="float: left; "><FONT>$</FONT></FONT><FONT style="float: right; "><FONT>500,000</FONT></FONT><FONT style="font-size: 9pt; ">&#8203;</FONT>                                    <BR clear="all"></P>
                            </TD>
                            <TD style="border-top: 0pt; padding-top: 0pt; border-right: 0pt; border-left: 0pt; padding-left: 0pt; vertical-align: bottom; padding-bottom: 0pt; border-bottom: 0pt; padding-right: 0pt; ">
                                <P style="margin-left: 0pt; font-size: 1pt; line-height: 1pt; margin-top: 0pt; margin-bottom: 0; margin-right: 0pt; ">&#8203;</P>
                            </TD>
                            <TD style="border-top: 0pt; padding-top: 1pt; border-right: 0pt; border-left: 0pt; padding-left: 0pt; vertical-align: bottom; padding-bottom: 1pt; border-bottom: 0pt; padding-right: 0pt; ">
                                <P style="margin-left: 11.25pt; color: #000000; text-indent: -11.25pt; font-size: 9pt; font-family: Arial, sans-serif; line-height: normal; margin-top: 0; margin-bottom: 0; text-align: left; margin-right: 0pt; "><FONT>Enterprise Products Operating L.P., 5.25% to 08/16/27 then <br>TSFR3M + 3.29461%, 08/16/77, Series E </FONT></P>
                            </TD>
                            <TD style="border-top: 0pt; padding-top: 1pt; border-right: 0pt; border-left: 0pt; padding-left: 0pt; vertical-align: bottom; padding-bottom: 1pt; border-bottom: 0pt; padding-right: 0pt; ">
                                <P style="margin-left: 0pt; color: #000000; font-size: 9pt; font-family: Arial, sans-serif; line-height: normal; margin-top: 0; margin-bottom: 0; text-align: right; margin-right: 0pt; "><A name="pfd-nportex_083125a1297"></A><FONT>&#160;495,995</FONT></P>
                            </TD>
                            <TD style="border-top: 0pt; padding-top: 1pt; border-right: 0pt; border-left: 0pt; padding-left: 0pt; vertical-align: bottom; padding-bottom: 1pt; border-bottom: 0pt; padding-right: 0pt; ">
                                <P style="margin-left: 0pt; color: #000000; text-indent: 0pt; font-size: 9pt; font-family: Arial, sans-serif; line-height: normal; margin-top: 0; margin-bottom: 0; text-align: left; margin-right: 0pt; "><SUP style="font-size: 7.0pt; line-height: 7.0pt; ">(2)(3)</SUP><FONT>&#160;</FONT></P>
                            </TD>
                        </TR>
                        <TR style="min-height: 3pt; ">
                            <TD style="background-color: #cceeff; border-top: 0pt; padding-top: 1pt; border-right: 0pt; border-left: 0pt; padding-left: 0pt; vertical-align: top; padding-bottom: 1pt; border-bottom: 0pt; padding-right: 0pt; ">
                                <P style="margin-left: 0pt; color: #000000; font-size: 9pt; font-family: Arial, sans-serif; line-height: normal; margin-top: 0; margin-bottom: 0; text-align: right; margin-right: 0pt; "><FONT style="float: left; "><FONT>$</FONT></FONT><FONT style="float: right; "><FONT>550,000</FONT></FONT><FONT style="font-size: 9pt; ">&#8203;</FONT>                                    <BR clear="all"></P>
                            </TD>
                            <TD style="background-color: #cceeff; border-top: 0pt; padding-top: 0pt; border-right: 0pt; border-left: 0pt; padding-left: 0pt; vertical-align: bottom; padding-bottom: 0pt; border-bottom: 0pt; padding-right: 0pt; ">
                                <P style="margin-left: 0pt; font-size: 1pt; line-height: 1pt; margin-top: 0pt; margin-bottom: 0; margin-right: 0pt; ">&#8203;</P>
                            </TD>
                            <TD style="background-color: #cceeff; border-top: 0pt; padding-top: 1pt; border-right: 0pt; border-left: 0pt; padding-left: 0pt; vertical-align: bottom; padding-bottom: 1pt; border-bottom: 0pt; padding-right: 0pt; ">
                                <P style="margin-left: 11.25pt; color: #000000; text-indent: -11.25pt; font-size: 9pt; font-family: Arial, sans-serif; line-height: normal; margin-top: 0; margin-bottom: 0; text-align: left; margin-right: 0pt; "><FONT>South Bow Canadian Infrastructure Holdings Ltd., 7.50% to 03/01/35 then <br>T5Y + 3.667%, 03/01/55 </FONT></P>
                            </TD>
                            <TD style="background-color: #cceeff; border-top: 0pt; padding-top: 1pt; border-right: 0pt; border-left: 0pt; padding-left: 0pt; vertical-align: bottom; padding-bottom: 1pt; border-bottom: 0pt; padding-right: 0pt; ">
                                <P style="margin-left: 0pt; color: #000000; font-size: 9pt; font-family: Arial, sans-serif; line-height: normal; margin-top: 0; margin-bottom: 0; text-align: right; margin-right: 0pt; "><A name="pfd-nportex_083125a1298"></A><FONT>&#160;575,199</FONT></P>
                            </TD>
                            <TD style="background-color: #cceeff; border-top: 0pt; padding-top: 1pt; border-right: 0pt; border-left: 0pt; padding-left: 0pt; vertical-align: bottom; padding-bottom: 1pt; border-bottom: 0pt; padding-right: 0pt; ">
                                <P style="margin-left: 0pt; color: #000000; text-indent: 0pt; font-size: 9pt; font-family: Arial, sans-serif; line-height: normal; margin-top: 0; margin-bottom: 0; text-align: left; margin-right: 0pt; "><SUP style="font-size: 7.0pt; line-height: 7.0pt; ">(5)</SUP><FONT>&#160;</FONT></P>
                            </TD>
                        </TR>
                        <TR style="min-height: 3pt; ">
                            <TD style="border-top: 0pt; padding-top: 1pt; border-right: 0pt; border-left: 0pt; padding-left: 0pt; vertical-align: top; padding-bottom: 1pt; border-bottom: 0pt; padding-right: 0pt; ">
                                <P style="margin-left: 0pt; color: #000000; font-size: 9pt; font-family: Arial, sans-serif; line-height: normal; margin-top: 0; margin-bottom: 0; text-align: right; margin-right: 0pt; "><FONT>&#160;</FONT></P>
                            </TD>
                            <TD style="border-top: 0pt; padding-top: 0pt; border-right: 0pt; border-left: 0pt; padding-left: 0pt; vertical-align: bottom; padding-bottom: 0pt; border-bottom: 0pt; padding-right: 0pt; ">
                                <P style="margin-left: 0pt; font-size: 1pt; line-height: 1pt; margin-top: 0pt; margin-bottom: 0; margin-right: 0pt; ">&#8203;</P>
                            </TD>
                            <TD style="border-top: 0pt; padding-top: 1pt; border-right: 0pt; border-left: 0pt; padding-left: 0pt; vertical-align: bottom; padding-bottom: 1pt; border-bottom: 0pt; padding-right: 0pt; ">
                                <P style="margin-left: 11.25pt; color: #000000; text-indent: -11.25pt; font-size: 9pt; font-family: Arial, sans-serif; line-height: normal; margin-top: 0; margin-bottom: 0; text-align: left; margin-right: 0pt; "><FONT>Transcanada Pipelines, Ltd.:</FONT></P>
                            </TD>
                            <TD style="border-top: 0pt; padding-top: 0pt; border-right: 0pt; border-left: 0pt; padding-left: 0pt; vertical-align: bottom; padding-bottom: 0pt; border-bottom: 0pt; padding-right: 0pt; ">
                                <P style="margin-left: 0pt; font-size: 1pt; line-height: 1pt; margin-top: 0pt; margin-bottom: 0; margin-right: 0pt; ">&#8203;</P>
                            </TD>
                            <TD style="border-top: 0pt; padding-top: 0pt; border-right: 0pt; border-left: 0pt; padding-left: 0pt; vertical-align: bottom; padding-bottom: 0pt; border-bottom: 0pt; padding-right: 0pt; ">
                                <P style="margin-left: 0pt; font-size: 1pt; line-height: 1pt; margin-top: 0pt; margin-bottom: 0; margin-right: 0pt; ">&#8203;</P>
                            </TD>
                        </TR>
                        <TR style="min-height: 3pt; ">
                            <TD style="background-color: #cceeff; border-top: 0pt; padding-top: 1pt; border-right: 0pt; border-left: 0pt; padding-left: 0pt; vertical-align: top; padding-bottom: 1pt; border-bottom: 0pt; padding-right: 0pt; ">
                                <P style="margin-left: 0pt; color: #000000; font-size: 9pt; font-family: Arial, sans-serif; line-height: normal; margin-top: 0; margin-bottom: 0; text-align: right; margin-right: 0pt; "><FONT style="float: left; "><FONT>$</FONT></FONT><FONT style="float: right; "><FONT>1,500,000</FONT></FONT><FONT style="font-size: 9pt; ">&#8203;</FONT>                                    <BR clear="all"></P>
                            </TD>
                            <TD style="background-color: #cceeff; border-top: 0pt; padding-top: 0pt; border-right: 0pt; border-left: 0pt; padding-left: 0pt; vertical-align: bottom; padding-bottom: 0pt; border-bottom: 0pt; padding-right: 0pt; ">
                                <P style="margin-left: 0pt; font-size: 1pt; line-height: 1pt; margin-top: 0pt; margin-bottom: 0; margin-right: 0pt; ">&#8203;</P>
                            </TD>
                            <TD style="background-color: #cceeff; border-top: 0pt; padding-top: 1pt; border-right: 0pt; border-left: 0pt; padding-left: 0pt; vertical-align: bottom; padding-bottom: 1pt; border-bottom: 0pt; padding-right: 0pt; ">
                                <P style="margin-left: 22.5pt; color: #000000; text-indent: -11.25pt; font-size: 9pt; font-family: Arial, sans-serif; line-height: normal; margin-top: 0; margin-bottom: 0; text-align: left; margin-right: 0pt; "><FONT>5.50% to 09/15/29 then TSFR3M + 4.41561%, 09/15/79 </FONT></P>
                            </TD>
                            <TD style="background-color: #cceeff; border-top: 0pt; padding-top: 1pt; border-right: 0pt; border-left: 0pt; padding-left: 0pt; vertical-align: bottom; padding-bottom: 1pt; border-bottom: 0pt; padding-right: 0pt; ">
                                <P style="margin-left: 0pt; color: #000000; font-size: 9pt; font-family: Arial, sans-serif; line-height: normal; margin-top: 0; margin-bottom: 0; text-align: right; margin-right: 0pt; "><A name="pfd-nportex_083125a1299"></A><FONT>&#160;1,483,278</FONT></P>
                            </TD>
                            <TD style="background-color: #cceeff; border-top: 0pt; padding-top: 1pt; border-right: 0pt; border-left: 0pt; padding-left: 0pt; vertical-align: bottom; padding-bottom: 1pt; border-bottom: 0pt; padding-right: 0pt; ">
                                <P style="margin-left: 0pt; color: #000000; text-indent: 0pt; font-size: 9pt; font-family: Arial, sans-serif; line-height: normal; margin-top: 0; margin-bottom: 0; text-align: left; margin-right: 0pt; "><SUP style="font-size: 7.0pt; line-height: 7.0pt; ">(2)(5)</SUP><FONT>&#160;</FONT></P>
                            </TD>
                        </TR>
                        <TR style="min-height: 3pt; ">
                            <TD style="border-top: 0pt; padding-top: 1pt; border-right: 0pt; border-left: 0pt; padding-left: 0pt; vertical-align: top; padding-bottom: 1pt; border-bottom: 0.5pt solid #000000; padding-right: 0pt; ">
                                <P style="margin-left: 0pt; color: #000000; font-size: 9pt; font-family: Arial, sans-serif; line-height: normal; margin-top: 0; margin-bottom: 0; text-align: right; margin-right: 0pt; "><FONT style="float: left; "><FONT>$</FONT></FONT><FONT style="float: right; "><FONT>1,400,000</FONT></FONT><FONT style="font-size: 9pt; ">&#8203;</FONT>                                    <BR clear="all"></P>
                            </TD>
                            <TD style="border-top: 0pt; padding-top: 0pt; border-right: 0pt; border-left: 0pt; padding-left: 0pt; vertical-align: bottom; padding-bottom: 0pt; border-bottom: 0.5pt solid #000000; padding-right: 0pt; ">
                                <P style="margin-left: 0pt; font-size: 1pt; line-height: 1pt; margin-top: 0pt; margin-bottom: 0; margin-right: 0pt; ">&#8203;</P>
                            </TD>
                            <TD style="border-top: 0pt; padding-top: 1pt; border-right: 0pt; border-left: 0pt; padding-left: 0pt; vertical-align: bottom; padding-bottom: 1pt; border-bottom: 0.5pt solid #000000; padding-right: 0pt; ">
                                <P style="margin-left: 22.5pt; color: #000000; text-indent: -11.25pt; font-size: 9pt; font-family: Arial, sans-serif; line-height: normal; margin-top: 0; margin-bottom: 0; text-align: left; margin-right: 0pt; "><FONT>5.875% to 08/15/26 then 3ML + 4.64%, 08/15/76, Series 2016-A </FONT></P>
                            </TD>
                            <TD style="border-top: 0pt; padding-top: 1pt; border-right: 0pt; border-left: 0pt; padding-left: 0pt; vertical-align: bottom; padding-bottom: 1pt; border-bottom: 0.5pt solid #000000; padding-right: 0pt; ">
                                <P style="margin-left: 0pt; color: #000000; font-size: 9pt; font-family: Arial, sans-serif; line-height: normal; margin-top: 0; margin-bottom: 0; text-align: right; margin-right: 0pt; "><A name="pfd-nportex_083125a1300"></A><FONT>&#160;1,404,358</FONT></P>
                            </TD>
                            <TD style="border-top: 0pt; padding-top: 1pt; border-right: 0pt; border-left: 0pt; padding-left: 0pt; vertical-align: bottom; padding-bottom: 1pt; border-bottom: 0pt; padding-right: 0pt; ">
                                <P style="margin-left: 0pt; color: #000000; text-indent: 0pt; font-size: 9pt; font-family: Arial, sans-serif; line-height: normal; margin-top: 0; margin-bottom: 0; text-align: left; margin-right: 0pt; "><SUP style="font-size: 7.0pt; line-height: 7.0pt; ">(2)(3)(5)</SUP><FONT>&#160;</FONT></P>
                            </TD>
                        </TR>
                        <TR style="min-height: 3pt; ">
                            <TD style="background-color: #cceeff; border-top: 0.5pt solid #000000; padding-top: 1pt; border-right: 0pt; border-left: 0pt; padding-left: 0pt; vertical-align: top; padding-bottom: 1pt; border-bottom: 0pt; padding-right: 0pt; ">
                                <P style="margin-left: 0pt; color: #000000; font-size: 9pt; font-family: Arial, sans-serif; line-height: normal; margin-top: 0; margin-bottom: 0; text-align: right; margin-right: 0pt; "><FONT>&#160;</FONT></P>
                            </TD>
                            <TD style="background-color: #cceeff; border-top: 0.5pt solid #000000; padding-top: 0pt; border-right: 0pt; border-left: 0pt; padding-left: 0pt; vertical-align: bottom; padding-bottom: 0pt; border-bottom: 0pt; padding-right: 0pt; ">
                                <P style="margin-left: 0pt; font-size: 1pt; line-height: 1pt; margin-top: 0pt; margin-bottom: 0; margin-right: 0pt; ">&#8203;</P>
                            </TD>
                            <TD style="background-color: #cceeff; border-top: 0.5pt solid #000000; padding-top: 0pt; border-right: 0pt; border-left: 0pt; padding-left: 0pt; vertical-align: bottom; padding-bottom: 0pt; border-bottom: 0pt; padding-right: 0pt; ">
                                <P style="margin-left: 0pt; font-size: 1pt; line-height: 1pt; margin-top: 0pt; margin-bottom: 0; margin-right: 0pt; ">&#8203;</P>
                            </TD>
                            <TD style="background-color: #cceeff; border-top: 0.5pt solid #000000; padding-top: 1pt; border-right: 0pt; border-left: 0pt; padding-left: 0pt; vertical-align: bottom; padding-bottom: 1pt; border-bottom: 0.5pt solid #000000; padding-right: 0pt; ">
                                <P style="margin-left: 0pt; color: #000000; font-size: 9pt; font-family: Arial, sans-serif; line-height: normal; margin-top: 0; margin-bottom: 0; text-align: right; margin-right: 0pt; "><A name="pfd-nportex_083125a1301"></A><FONT>&#160;10,811,795</FONT></P>
                            </TD>
                            <TD style="background-color: #cceeff; border-top: 0pt; padding-top: 0pt; border-right: 0pt; border-left: 0pt; padding-left: 0pt; vertical-align: bottom; padding-bottom: 0pt; border-bottom: 0pt; padding-right: 0pt; ">
                                <P style="margin-left: 0pt; font-size: 1pt; line-height: 1pt; margin-top: 0pt; margin-bottom: 0; margin-right: 0pt; ">&#8203;</P>
                            </TD>
                        </TR>
                        <TR style="min-height: 3pt; ">
                            <TD style="border-top: 0pt; padding-top: 1pt; border-right: 0pt; border-left: 0pt; padding-left: 0pt; vertical-align: top; padding-bottom: 1pt; border-bottom: 0.5pt solid #000000; padding-right: 0pt; ">
                                <P style="margin-left: 0pt; color: #000000; font-size: 9pt; font-family: Arial, sans-serif; line-height: normal; margin-top: 0; margin-bottom: 0; text-align: right; margin-right: 0pt; "><FONT>&#160;</FONT></P>
                            </TD>
                            <TD style="border-top: 0pt; padding-top: 0pt; border-right: 0pt; border-left: 0pt; padding-left: 0pt; vertical-align: bottom; padding-bottom: 0pt; border-bottom: 0.5pt solid #000000; padding-right: 0pt; ">
                                <P style="margin-left: 0pt; font-size: 1pt; line-height: 1pt; margin-top: 0pt; margin-bottom: 0; margin-right: 0pt; ">&#8203;</P>
                            </TD>
                            <TD style="border-top: 0pt; padding-top: 1pt; border-right: 0pt; border-left: 0pt; padding-left: 0pt; vertical-align: bottom; padding-bottom: 1pt; border-bottom: 0.5pt solid #000000; padding-right: 0pt; ">
                                <P style="margin-left: 0pt; color: #000000; text-indent: 0pt; font-size: 9pt; font-family: Arial, sans-serif; line-height: normal; margin-top: 0; margin-bottom: 0; text-align: left; margin-right: 0pt; "><FONT style="font-weight: bold; "><B>Communication &#8212; 1.5%</B></FONT></P>
                            </TD>
                            <TD style="border-top: 0.5pt solid #000000; padding-top: 0pt; border-right: 0pt; border-left: 0pt; padding-left: 0pt; vertical-align: bottom; padding-bottom: 0pt; border-bottom: 0.5pt solid #000000; padding-right: 0pt; ">
                                <P style="margin-left: 0pt; font-size: 1pt; line-height: 1pt; margin-top: 0pt; margin-bottom: 0; margin-right: 0pt; ">&#8203;</P>
                            </TD>
                            <TD style="border-top: 0pt; padding-top: 0pt; border-right: 0pt; border-left: 0pt; padding-left: 0pt; vertical-align: bottom; padding-bottom: 0pt; border-bottom: 0pt; padding-right: 0pt; ">
                                <P style="margin-left: 0pt; font-size: 1pt; line-height: 1pt; margin-top: 0pt; margin-bottom: 0; margin-right: 0pt; ">&#8203;</P>
                            </TD>
                        </TR>
                        <TR style="min-height: 3pt; ">
                            <TD style="background-color: #cceeff; border-top: 0.5pt solid #000000; padding-top: 1pt; border-right: 0pt; border-left: 0pt; padding-left: 0pt; vertical-align: top; padding-bottom: 1pt; border-bottom: 0pt; padding-right: 0pt; ">
                                <P style="margin-left: 0pt; color: #000000; font-size: 9pt; font-family: Arial, sans-serif; line-height: normal; margin-top: 0; margin-bottom: 0; text-align: right; margin-right: 0pt; "><FONT style="float: left; "><FONT>$</FONT></FONT><FONT style="float: right; "><FONT>750,000</FONT></FONT><FONT style="font-size: 9pt; ">&#8203;</FONT>                                    <BR clear="all"></P>
                            </TD>
                            <TD style="background-color: #cceeff; border-top: 0.5pt solid #000000; padding-top: 0pt; border-right: 0pt; border-left: 0pt; padding-left: 0pt; vertical-align: bottom; padding-bottom: 0pt; border-bottom: 0pt; padding-right: 0pt; ">
                                <P style="margin-left: 0pt; font-size: 1pt; line-height: 1pt; margin-top: 0pt; margin-bottom: 0; margin-right: 0pt; ">&#8203;</P>
                            </TD>
                            <TD style="background-color: #cceeff; border-top: 0.5pt solid #000000; padding-top: 1pt; border-right: 0pt; border-left: 0pt; padding-left: 0pt; vertical-align: bottom; padding-bottom: 1pt; border-bottom: 0pt; padding-right: 0pt; ">
                                <P style="margin-left: 11.25pt; color: #000000; text-indent: -11.25pt; font-size: 9pt; font-family: Arial, sans-serif; line-height: normal; margin-top: 0; margin-bottom: 0; text-align: left; margin-right: 0pt; "><FONT>Bell Canada, 7.00% to 09/15/35 then T5Y + 2.363%, 09/15/55, Series B </FONT></P>
                            </TD>
                            <TD style="background-color: #cceeff; border-top: 0.5pt solid #000000; padding-top: 1pt; border-right: 0pt; border-left: 0pt; padding-left: 0pt; vertical-align: bottom; padding-bottom: 1pt; border-bottom: 0pt; padding-right: 0pt; ">
                                <P style="margin-left: 0pt; color: #000000; font-size: 9pt; font-family: Arial, sans-serif; line-height: normal; margin-top: 0; margin-bottom: 0; text-align: right; margin-right: 0pt; "><A name="pfd-nportex_083125a1302"></A><FONT>&#160;768,964</FONT></P>
                            </TD>
                            <TD style="background-color: #cceeff; border-top: 0pt; padding-top: 1pt; border-right: 0pt; border-left: 0pt; padding-left: 0pt; vertical-align: bottom; padding-bottom: 1pt; border-bottom: 0pt; padding-right: 0pt; ">
                                <P style="margin-left: 0pt; color: #000000; text-indent: 0pt; font-size: 9pt; font-family: Arial, sans-serif; line-height: normal; margin-top: 0; margin-bottom: 0; text-align: left; margin-right: 0pt; "><SUP style="font-size: 7.0pt; line-height: 7.0pt; ">(5)</SUP><FONT>&#160;</FONT></P>
                            </TD>
                        </TR>
                        <TR style="min-height: 3pt; ">
                            <TD style="border-top: 0pt; padding-top: 1pt; border-right: 0pt; border-left: 0pt; padding-left: 0pt; vertical-align: top; padding-bottom: 1pt; border-bottom: 0pt; padding-right: 0pt; ">
                                <P style="margin-left: 0pt; color: #000000; font-size: 9pt; font-family: Arial, sans-serif; line-height: normal; margin-top: 0; margin-bottom: 0; text-align: right; margin-right: 0pt; "><FONT style="float: left; "><FONT>$</FONT></FONT><FONT style="float: right; "><FONT>540,000</FONT></FONT><FONT style="font-size: 9pt; ">&#8203;</FONT>                                    <BR clear="all"></P>
                            </TD>
                            <TD style="border-top: 0pt; padding-top: 0pt; border-right: 0pt; border-left: 0pt; padding-left: 0pt; vertical-align: bottom; padding-bottom: 0pt; border-bottom: 0pt; padding-right: 0pt; ">
                                <P style="margin-left: 0pt; font-size: 1pt; line-height: 1pt; margin-top: 0pt; margin-bottom: 0; margin-right: 0pt; ">&#8203;</P>
                            </TD>
                            <TD style="border-top: 0pt; padding-top: 1pt; border-right: 0pt; border-left: 0pt; padding-left: 0pt; vertical-align: bottom; padding-bottom: 1pt; border-bottom: 0pt; padding-right: 0pt; ">
                                <P style="margin-left: 11.25pt; color: #000000; text-indent: -11.25pt; font-size: 9pt; font-family: Arial, sans-serif; line-height: normal; margin-top: 0; margin-bottom: 0; text-align: left; margin-right: 0pt; "><FONT>British Telecommunications PLC, 4.875% to 11/23/31 then <br>T5Y + 3.493%, 11/23/81, 144A**** </FONT></P>
                            </TD>
                            <TD style="border-top: 0pt; padding-top: 1pt; border-right: 0pt; border-left: 0pt; padding-left: 0pt; vertical-align: bottom; padding-bottom: 1pt; border-bottom: 0pt; padding-right: 0pt; ">
                                <P style="margin-left: 0pt; color: #000000; font-size: 9pt; font-family: Arial, sans-serif; line-height: normal; margin-top: 0; margin-bottom: 0; text-align: right; margin-right: 0pt; "><A name="pfd-nportex_083125a1303"></A><FONT>&#160;508,882</FONT></P>
                            </TD>
                            <TD style="border-top: 0pt; padding-top: 1pt; border-right: 0pt; border-left: 0pt; padding-left: 0pt; vertical-align: bottom; padding-bottom: 1pt; border-bottom: 0pt; padding-right: 0pt; ">
                                <P style="margin-left: 0pt; color: #000000; text-indent: 0pt; font-size: 9pt; font-family: Arial, sans-serif; line-height: normal; margin-top: 0; margin-bottom: 0; text-align: left; margin-right: 0pt; "><SUP style="font-size: 7.0pt; line-height: 7.0pt; ">(2)(3)(5)</SUP><FONT>&#160;</FONT></P>
                            </TD>
                        </TR>
                        <TR style="min-height: 3pt; ">
                            <TD style="background-color: #cceeff; border-top: 0pt; padding-top: 1pt; border-right: 0pt; border-left: 0pt; padding-left: 0pt; vertical-align: top; padding-bottom: 1pt; border-bottom: 0pt; padding-right: 0pt; ">
                                <P style="margin-left: 0pt; color: #000000; font-size: 9pt; font-family: Arial, sans-serif; line-height: normal; margin-top: 0; margin-bottom: 0; text-align: right; margin-right: 0pt; "><FONT style="float: left; "><FONT>$</FONT></FONT><FONT style="float: right; "><FONT>1,470,000</FONT></FONT><FONT style="font-size: 9pt; ">&#8203;</FONT>                                    <BR clear="all"></P>
                            </TD>
                            <TD style="background-color: #cceeff; border-top: 0pt; padding-top: 0pt; border-right: 0pt; border-left: 0pt; padding-left: 0pt; vertical-align: bottom; padding-bottom: 0pt; border-bottom: 0pt; padding-right: 0pt; ">
                                <P style="margin-left: 0pt; font-size: 1pt; line-height: 1pt; margin-top: 0pt; margin-bottom: 0; margin-right: 0pt; ">&#8203;</P>
                            </TD>
                            <TD style="background-color: #cceeff; border-top: 0pt; padding-top: 1pt; border-right: 0pt; border-left: 0pt; padding-left: 0pt; vertical-align: bottom; padding-bottom: 1pt; border-bottom: 0pt; padding-right: 0pt; ">
                                <P style="margin-left: 11.25pt; color: #000000; text-indent: -11.25pt; font-size: 9pt; font-family: Arial, sans-serif; line-height: normal; margin-top: 0; margin-bottom: 0; text-align: left; margin-right: 0pt; "><FONT>Paramount Global, 6.375% to 03/30/27 then T5Y + 3.999%, 03/30/62 </FONT></P>
                            </TD>
                            <TD style="background-color: #cceeff; border-top: 0pt; padding-top: 1pt; border-right: 0pt; border-left: 0pt; padding-left: 0pt; vertical-align: bottom; padding-bottom: 1pt; border-bottom: 0pt; padding-right: 0pt; ">
                                <P style="margin-left: 0pt; color: #000000; font-size: 9pt; font-family: Arial, sans-serif; line-height: normal; margin-top: 0; margin-bottom: 0; text-align: right; margin-right: 0pt; "><A name="pfd-nportex_083125a1304"></A><FONT>&#160;1,473,525</FONT></P>
                            </TD>
                            <TD style="background-color: #cceeff; border-top: 0pt; padding-top: 1pt; border-right: 0pt; border-left: 0pt; padding-left: 0pt; vertical-align: bottom; padding-bottom: 1pt; border-bottom: 0pt; padding-right: 0pt; ">
                                <P style="margin-left: 0pt; color: #000000; text-indent: 0pt; font-size: 9pt; font-family: Arial, sans-serif; line-height: normal; margin-top: 0; margin-bottom: 0; text-align: left; margin-right: 0pt; "><SUP style="font-size: 7.0pt; line-height: 7.0pt; ">(2)(3)</SUP><FONT>&#160;</FONT></P>
                            </TD>
                        </TR>
                        <TR style="min-height: 3pt; ">
                            <TD style="border-top: 0pt; padding-top: 1pt; border-right: 0pt; border-left: 0pt; padding-left: 0pt; vertical-align: top; padding-bottom: 1pt; border-bottom: 0pt; padding-right: 0pt; ">
                                <P style="margin-left: 0pt; color: #000000; font-size: 9pt; font-family: Arial, sans-serif; line-height: normal; margin-top: 0; margin-bottom: 0; text-align: right; margin-right: 0pt; "><FONT style="float: left; "><FONT>$</FONT></FONT><FONT style="float: right; "><FONT>570,000</FONT></FONT><FONT style="font-size: 9pt; ">&#8203;</FONT>                                    <BR clear="all"></P>
                            </TD>
                            <TD style="border-top: 0pt; padding-top: 0pt; border-right: 0pt; border-left: 0pt; padding-left: 0pt; vertical-align: bottom; padding-bottom: 0pt; border-bottom: 0pt; padding-right: 0pt; ">
                                <P style="margin-left: 0pt; font-size: 1pt; line-height: 1pt; margin-top: 0pt; margin-bottom: 0; margin-right: 0pt; ">&#8203;</P>
                            </TD>
                            <TD style="border-top: 0pt; padding-top: 1pt; border-right: 0pt; border-left: 0pt; padding-left: 0pt; vertical-align: bottom; padding-bottom: 1pt; border-bottom: 0pt; padding-right: 0pt; ">
                                <P style="margin-left: 11.25pt; color: #000000; text-indent: -11.25pt; font-size: 9pt; font-family: Arial, sans-serif; line-height: normal; margin-top: 0; margin-bottom: 0; text-align: left; margin-right: 0pt; "><FONT>Rogers Communications, Inc., 7.125% to 04/15/35 then T5Y + 2.62%, 04/15/55 </FONT></P>
                            </TD>
                            <TD style="border-top: 0pt; padding-top: 1pt; border-right: 0pt; border-left: 0pt; padding-left: 0pt; vertical-align: bottom; padding-bottom: 1pt; border-bottom: 0pt; padding-right: 0pt; ">
                                <P style="margin-left: 0pt; color: #000000; font-size: 9pt; font-family: Arial, sans-serif; line-height: normal; margin-top: 0; margin-bottom: 0; text-align: right; margin-right: 0pt; "><A name="pfd-nportex_083125a1305"></A><FONT>&#160;591,990</FONT></P>
                            </TD>
                            <TD style="border-top: 0pt; padding-top: 1pt; border-right: 0pt; border-left: 0pt; padding-left: 0pt; vertical-align: bottom; padding-bottom: 1pt; border-bottom: 0pt; padding-right: 0pt; ">
                                <P style="margin-left: 0pt; color: #000000; text-indent: 0pt; font-size: 9pt; font-family: Arial, sans-serif; line-height: normal; margin-top: 0; margin-bottom: 0; text-align: left; margin-right: 0pt; "><SUP style="font-size: 7.0pt; line-height: 7.0pt; ">(5)</SUP><FONT>&#160;</FONT></P>
                            </TD>
                        </TR>
                        <TR style="min-height: 3pt; ">
                            <TD style="background-color: #cceeff; border-top: 0pt; padding-top: 1pt; border-right: 0pt; border-left: 0pt; padding-left: 0pt; vertical-align: top; padding-bottom: 1pt; border-bottom: 0.5pt solid #000000; padding-right: 0pt; ">
                                <P style="margin-left: 0pt; color: #000000; font-size: 9pt; font-family: Arial, sans-serif; line-height: normal; margin-top: 0; margin-bottom: 0; text-align: right; margin-right: 0pt; "><FONT style="float: left; "><FONT>$</FONT></FONT><FONT style="float: right; "><FONT>460,000</FONT></FONT><FONT style="font-size: 9pt; ">&#8203;</FONT>                                    <BR clear="all"></P>
                            </TD>
                            <TD style="background-color: #cceeff; border-top: 0pt; padding-top: 0pt; border-right: 0pt; border-left: 0pt; padding-left: 0pt; vertical-align: bottom; padding-bottom: 0pt; border-bottom: 0.5pt solid #000000; padding-right: 0pt; ">
                                <P style="margin-left: 0pt; font-size: 1pt; line-height: 1pt; margin-top: 0pt; margin-bottom: 0; margin-right: 0pt; ">&#8203;</P>
                            </TD>
                            <TD style="background-color: #cceeff; border-top: 0pt; padding-top: 1pt; border-right: 0pt; border-left: 0pt; padding-left: 0pt; vertical-align: bottom; padding-bottom: 1pt; border-bottom: 0.5pt solid #000000; padding-right: 0pt; ">
                                <P style="margin-left: 11.25pt; color: #000000; text-indent: -11.25pt; font-size: 9pt; font-family: Arial, sans-serif; line-height: normal; margin-top: 0; margin-bottom: 0; text-align: left; margin-right: 0pt; "><FONT>TELUS Corporation, 7.00% to 10/15/35 then T5Y + 2.709%, 10/15/55, Series B </FONT></P>
                            </TD>
                            <TD style="background-color: #cceeff; border-top: 0pt; padding-top: 1pt; border-right: 0pt; border-left: 0pt; padding-left: 0pt; vertical-align: bottom; padding-bottom: 1pt; border-bottom: 0.5pt solid #000000; padding-right: 0pt; ">
                                <P style="margin-left: 0pt; color: #000000; font-size: 9pt; font-family: Arial, sans-serif; line-height: normal; margin-top: 0; margin-bottom: 0; text-align: right; margin-right: 0pt; "><A name="pfd-nportex_083125a1306"></A><FONT>&#160;473,193</FONT></P>
                            </TD>
                            <TD style="background-color: #cceeff; border-top: 0pt; padding-top: 1pt; border-right: 0pt; border-left: 0pt; padding-left: 0pt; vertical-align: bottom; padding-bottom: 1pt; border-bottom: 0pt; padding-right: 0pt; ">
                                <P style="margin-left: 0pt; color: #000000; text-indent: 0pt; font-size: 9pt; font-family: Arial, sans-serif; line-height: normal; margin-top: 0; margin-bottom: 0; text-align: left; margin-right: 0pt; "><SUP style="font-size: 7.0pt; line-height: 7.0pt; ">(5)</SUP><FONT>&#160;</FONT></P>
                            </TD>
                        </TR>
                        <TR style="min-height: 3pt; ">
                            <TD style="border-top: 0.5pt solid #000000; padding-top: 1pt; border-right: 0pt; border-left: 0pt; padding-left: 0pt; vertical-align: top; padding-bottom: 1pt; border-bottom: 0pt; padding-right: 0pt; ">
                                <P style="margin-left: 0pt; color: #000000; font-size: 9pt; font-family: Arial, sans-serif; line-height: normal; margin-top: 0; margin-bottom: 0; text-align: right; margin-right: 0pt; "><FONT>&#160;</FONT></P>
                            </TD>
                            <TD style="border-top: 0.5pt solid #000000; padding-top: 0pt; border-right: 0pt; border-left: 0pt; padding-left: 0pt; vertical-align: bottom; padding-bottom: 0pt; border-bottom: 0pt; padding-right: 0pt; ">
                                <P style="margin-left: 0pt; font-size: 1pt; line-height: 1pt; margin-top: 0pt; margin-bottom: 0; margin-right: 0pt; ">&#8203;</P>
                            </TD>
                            <TD style="border-top: 0.5pt solid #000000; padding-top: 0pt; border-right: 0pt; border-left: 0pt; padding-left: 0pt; vertical-align: bottom; padding-bottom: 0pt; border-bottom: 0pt; padding-right: 0pt; ">
                                <P style="margin-left: 0pt; font-size: 1pt; line-height: 1pt; margin-top: 0pt; margin-bottom: 0; margin-right: 0pt; ">&#8203;</P>
                            </TD>
                            <TD style="border-top: 0.5pt solid #000000; padding-top: 1pt; border-right: 0pt; border-left: 0pt; padding-left: 0pt; vertical-align: bottom; padding-bottom: 1pt; border-bottom: 0.5pt solid #000000; padding-right: 0pt; ">
                                <P style="margin-left: 0pt; color: #000000; font-size: 9pt; font-family: Arial, sans-serif; line-height: normal; margin-top: 0; margin-bottom: 0; text-align: right; margin-right: 0pt; "><A name="pfd-nportex_083125a1307"></A><FONT>&#160;3,816,554</FONT></P>
                            </TD>
                            <TD style="border-top: 0pt; padding-top: 0pt; border-right: 0pt; border-left: 0pt; padding-left: 0pt; vertical-align: bottom; padding-bottom: 0pt; border-bottom: 0pt; padding-right: 0pt; ">
                                <P style="margin-left: 0pt; font-size: 1pt; line-height: 1pt; margin-top: 0pt; margin-bottom: 0; margin-right: 0pt; ">&#8203;</P>
                            </TD>
                        </TR>
                        <TR style="min-height: 3pt; ">
                            <TD style="background-color: #cceeff; border-top: 0pt; padding-top: 1pt; border-right: 0pt; border-left: 0pt; padding-left: 0pt; vertical-align: top; padding-bottom: 1pt; border-bottom: 0.5pt solid #000000; padding-right: 0pt; ">
                                <P style="margin-left: 0pt; color: #000000; font-size: 9pt; font-family: Arial, sans-serif; line-height: normal; margin-top: 0; margin-bottom: 0; text-align: right; margin-right: 0pt; "><FONT>&#160;</FONT></P>
                            </TD>
                            <TD style="background-color: #cceeff; border-top: 0pt; padding-top: 0pt; border-right: 0pt; border-left: 0pt; padding-left: 0pt; vertical-align: bottom; padding-bottom: 0pt; border-bottom: 0.5pt solid #000000; padding-right: 0pt; ">
                                <P style="margin-left: 0pt; font-size: 1pt; line-height: 1pt; margin-top: 0pt; margin-bottom: 0; margin-right: 0pt; ">&#8203;</P>
                            </TD>
                            <TD style="background-color: #cceeff; border-top: 0pt; padding-top: 1pt; border-right: 0pt; border-left: 0pt; padding-left: 0pt; vertical-align: bottom; padding-bottom: 1pt; border-bottom: 0.5pt solid #000000; padding-right: 0pt; ">
                                <P style="margin-left: 0pt; color: #000000; text-indent: 0pt; font-size: 9pt; font-family: Arial, sans-serif; line-height: normal; margin-top: 0; margin-bottom: 0; text-align: left; margin-right: 0pt; "><FONT style="font-weight: bold; "><B>Real Estate Investment Trust (REIT) &#8212; 1.5%</B></FONT></P>
                            </TD>
                            <TD style="background-color: #cceeff; border-top: 0.5pt solid #000000; padding-top: 0pt; border-right: 0pt; border-left: 0pt; padding-left: 0pt; vertical-align: bottom; padding-bottom: 0pt; border-bottom: 0.5pt solid #000000; padding-right: 0pt; ">
                                <P style="margin-left: 0pt; font-size: 1pt; line-height: 1pt; margin-top: 0pt; margin-bottom: 0; margin-right: 0pt; ">&#8203;</P>
                            </TD>
                            <TD style="background-color: #cceeff; border-top: 0pt; padding-top: 0pt; border-right: 0pt; border-left: 0pt; padding-left: 0pt; vertical-align: bottom; padding-bottom: 0pt; border-bottom: 0pt; padding-right: 0pt; ">
                                <P style="margin-left: 0pt; font-size: 1pt; line-height: 1pt; margin-top: 0pt; margin-bottom: 0; margin-right: 0pt; ">&#8203;</P>
                            </TD>
                        </TR>
                        <TR style="min-height: 3pt; ">
                            <TD style="border-top: 0.5pt solid #000000; padding-top: 1pt; border-right: 0pt; border-left: 0pt; padding-left: 0pt; vertical-align: top; padding-bottom: 1pt; border-bottom: 0pt; padding-right: 0pt; ">
                                <P style="margin-left: 0pt; color: #000000; font-size: 9pt; font-family: Arial, sans-serif; line-height: normal; margin-top: 0; margin-bottom: 0; text-align: right; margin-right: 0pt; "><FONT>3,440</FONT></P>
                            </TD>
                            <TD style="border-top: 0.5pt solid #000000; padding-top: 0pt; border-right: 0pt; border-left: 0pt; padding-left: 0pt; vertical-align: bottom; padding-bottom: 0pt; border-bottom: 0pt; padding-right: 0pt; ">
                                <P style="margin-left: 0pt; font-size: 1pt; line-height: 1pt; margin-top: 0pt; margin-bottom: 0; margin-right: 0pt; ">&#8203;</P>
                            </TD>
                            <TD style="border-top: 0.5pt solid #000000; padding-top: 1pt; border-right: 0pt; border-left: 0pt; padding-left: 0pt; vertical-align: bottom; padding-bottom: 1pt; border-bottom: 0pt; padding-right: 0pt; ">
                                <P style="margin-left: 11.25pt; color: #000000; text-indent: -11.25pt; font-size: 9pt; font-family: Arial, sans-serif; line-height: normal; margin-top: 0; margin-bottom: 0; text-align: left; margin-right: 0pt; "><FONT>Annaly Capital Management, Inc., TSFR3M + 5.25461%, 9.55022%</FONT><SUP style="font-size: 7.0pt; line-height: 7.0pt; ">(4)</SUP><FONT>, Series F </FONT></P>
                            </TD>
                            <TD style="border-top: 0.5pt solid #000000; padding-top: 1pt; border-right: 0pt; border-left: 0pt; padding-left: 0pt; vertical-align: bottom; padding-bottom: 1pt; border-bottom: 0pt; padding-right: 0pt; ">
                                <P style="margin-left: 0pt; color: #000000; font-size: 9pt; font-family: Arial, sans-serif; line-height: normal; margin-top: 0; margin-bottom: 0; text-align: right; margin-right: 0pt; "><A name="pfd-nportex_083125a1308"></A><FONT>&#160;88,649</FONT></P>
                            </TD>
                            <TD style="border-top: 0pt; padding-top: 1pt; border-right: 0pt; border-left: 0pt; padding-left: 0pt; vertical-align: bottom; padding-bottom: 1pt; border-bottom: 0pt; padding-right: 0pt; ">
                                <P style="margin-left: 0pt; color: #000000; text-indent: 0pt; font-size: 9pt; font-family: Arial, sans-serif; line-height: normal; margin-top: 0; margin-bottom: 0; text-align: left; margin-right: 0pt; "><SUP style="font-size: 7.0pt; line-height: 7.0pt; ">(1)</SUP><FONT>&#160;</FONT></P>
                            </TD>
                        </TR>
                        <TR style="min-height: 3pt; ">
                            <TD style="background-color: #cceeff; border-top: 0pt; padding-top: 1pt; border-right: 0pt; border-left: 0pt; padding-left: 0pt; vertical-align: top; padding-bottom: 1pt; border-bottom: 0pt; padding-right: 0pt; ">
                                <P style="margin-left: 0pt; color: #000000; font-size: 9pt; font-family: Arial, sans-serif; line-height: normal; margin-top: 0; margin-bottom: 0; text-align: right; margin-right: 0pt; "><FONT>&#160;</FONT></P>
                            </TD>
                            <TD style="background-color: #cceeff; border-top: 0pt; padding-top: 0pt; border-right: 0pt; border-left: 0pt; padding-left: 0pt; vertical-align: bottom; padding-bottom: 0pt; border-bottom: 0pt; padding-right: 0pt; ">
                                <P style="margin-left: 0pt; font-size: 1pt; line-height: 1pt; margin-top: 0pt; margin-bottom: 0; margin-right: 0pt; ">&#8203;</P>
                            </TD>
                            <TD style="background-color: #cceeff; border-top: 0pt; padding-top: 1pt; border-right: 0pt; border-left: 0pt; padding-left: 0pt; vertical-align: bottom; padding-bottom: 1pt; border-bottom: 0pt; padding-right: 0pt; ">
                                <P style="margin-left: 11.25pt; color: #000000; text-indent: -11.25pt; font-size: 9pt; font-family: Arial, sans-serif; line-height: normal; margin-top: 0; margin-bottom: 0; text-align: left; margin-right: 0pt; "><FONT>Arbor Realty Trust, Inc.:</FONT></P>
                            </TD>
                            <TD style="background-color: #cceeff; border-top: 0pt; padding-top: 0pt; border-right: 0pt; border-left: 0pt; padding-left: 0pt; vertical-align: bottom; padding-bottom: 0pt; border-bottom: 0pt; padding-right: 0pt; ">
                                <P style="margin-left: 0pt; font-size: 1pt; line-height: 1pt; margin-top: 0pt; margin-bottom: 0; margin-right: 0pt; ">&#8203;</P>
                            </TD>
                            <TD style="background-color: #cceeff; border-top: 0pt; padding-top: 0pt; border-right: 0pt; border-left: 0pt; padding-left: 0pt; vertical-align: bottom; padding-bottom: 0pt; border-bottom: 0pt; padding-right: 0pt; ">
                                <P style="margin-left: 0pt; font-size: 1pt; line-height: 1pt; margin-top: 0pt; margin-bottom: 0; margin-right: 0pt; ">&#8203;</P>
                            </TD>
                        </TR>
                        <TR style="min-height: 3pt; ">
                            <TD style="border-top: 0pt; padding-top: 1pt; border-right: 0pt; border-left: 0pt; padding-left: 0pt; vertical-align: top; padding-bottom: 1pt; border-bottom: 0pt; padding-right: 0pt; ">
                                <P style="margin-left: 0pt; color: #000000; font-size: 9pt; font-family: Arial, sans-serif; line-height: normal; margin-top: 0; margin-bottom: 0; text-align: right; margin-right: 0pt; "><FONT>4,576</FONT></P>
                            </TD>
                            <TD style="border-top: 0pt; padding-top: 0pt; border-right: 0pt; border-left: 0pt; padding-left: 0pt; vertical-align: bottom; padding-bottom: 0pt; border-bottom: 0pt; padding-right: 0pt; ">
                                <P style="margin-left: 0pt; font-size: 1pt; line-height: 1pt; margin-top: 0pt; margin-bottom: 0; margin-right: 0pt; ">&#8203;</P>
                            </TD>
                            <TD style="border-top: 0pt; padding-top: 1pt; border-right: 0pt; border-left: 0pt; padding-left: 0pt; vertical-align: bottom; padding-bottom: 1pt; border-bottom: 0pt; padding-right: 0pt; ">
                                <P style="margin-left: 22.5pt; color: #000000; text-indent: -11.25pt; font-size: 9pt; font-family: Arial, sans-serif; line-height: normal; margin-top: 0; margin-bottom: 0; text-align: left; margin-right: 0pt; "><FONT>6.375%, Series D </FONT></P>
                            </TD>
                            <TD style="border-top: 0pt; padding-top: 1pt; border-right: 0pt; border-left: 0pt; padding-left: 0pt; vertical-align: bottom; padding-bottom: 1pt; border-bottom: 0pt; padding-right: 0pt; ">
                                <P style="margin-left: 0pt; color: #000000; font-size: 9pt; font-family: Arial, sans-serif; line-height: normal; margin-top: 0; margin-bottom: 0; text-align: right; margin-right: 0pt; "><A name="pfd-nportex_083125a1309"></A><FONT>&#160;82,734</FONT></P>
                            </TD>
                            <TD style="border-top: 0pt; padding-top: 1pt; border-right: 0pt; border-left: 0pt; padding-left: 0pt; vertical-align: bottom; padding-bottom: 1pt; border-bottom: 0pt; padding-right: 0pt; ">
                                <P style="margin-left: 0pt; color: #000000; text-indent: 0pt; font-size: 9pt; font-family: Arial, sans-serif; line-height: normal; margin-top: 0; margin-bottom: 0; text-align: left; margin-right: 0pt; "><SUP style="font-size: 7.0pt; line-height: 7.0pt; ">(1)</SUP><FONT>&#160;</FONT></P>
                            </TD>
                        </TR>
                        <TR style="min-height: 3pt; ">
                            <TD style="background-color: #cceeff; border-top: 0pt; padding-top: 1pt; border-right: 0pt; border-left: 0pt; padding-left: 0pt; vertical-align: top; padding-bottom: 1pt; border-bottom: 0pt; padding-right: 0pt; ">
                                <P style="margin-left: 0pt; color: #000000; font-size: 9pt; font-family: Arial, sans-serif; line-height: normal; margin-top: 0; margin-bottom: 0; text-align: right; margin-right: 0pt; "><FONT>61,614</FONT></P>
                            </TD>
                            <TD style="background-color: #cceeff; border-top: 0pt; padding-top: 0pt; border-right: 0pt; border-left: 0pt; padding-left: 0pt; vertical-align: bottom; padding-bottom: 0pt; border-bottom: 0pt; padding-right: 0pt; ">
                                <P style="margin-left: 0pt; font-size: 1pt; line-height: 1pt; margin-top: 0pt; margin-bottom: 0; margin-right: 0pt; ">&#8203;</P>
                            </TD>
                            <TD style="background-color: #cceeff; border-top: 0pt; padding-top: 1pt; border-right: 0pt; border-left: 0pt; padding-left: 0pt; vertical-align: bottom; padding-bottom: 1pt; border-bottom: 0pt; padding-right: 0pt; ">
                                <P style="margin-left: 22.5pt; color: #000000; text-indent: -11.25pt; font-size: 9pt; font-family: Arial, sans-serif; line-height: normal; margin-top: 0; margin-bottom: 0; text-align: left; margin-right: 0pt; "><FONT>6.25% to 10/30/26 then TSFR3M + 5.44%, Series F </FONT></P>
                            </TD>
                            <TD style="background-color: #cceeff; border-top: 0pt; padding-top: 1pt; border-right: 0pt; border-left: 0pt; padding-left: 0pt; vertical-align: bottom; padding-bottom: 1pt; border-bottom: 0pt; padding-right: 0pt; ">
                                <P style="margin-left: 0pt; color: #000000; font-size: 9pt; font-family: Arial, sans-serif; line-height: normal; margin-top: 0; margin-bottom: 0; text-align: right; margin-right: 0pt; "><A name="pfd-nportex_083125a1310"></A><FONT>&#160;1,367,831</FONT></P>
                            </TD>
                            <TD style="background-color: #cceeff; border-top: 0pt; padding-top: 1pt; border-right: 0pt; border-left: 0pt; padding-left: 0pt; vertical-align: bottom; padding-bottom: 1pt; border-bottom: 0pt; padding-right: 0pt; ">
                                <P style="margin-left: 0pt; color: #000000; text-indent: 0pt; font-size: 9pt; font-family: Arial, sans-serif; line-height: normal; margin-top: 0; margin-bottom: 0; text-align: left; margin-right: 0pt; "><SUP style="font-size: 7.0pt; line-height: 7.0pt; ">(1)(2)</SUP><FONT>&#160;</FONT></P>
                            </TD>
                        </TR>
                        <TR style="min-height: 3pt; ">
                            <TD style="border-top: 0pt; padding-top: 1pt; border-right: 0pt; border-left: 0pt; padding-left: 0pt; vertical-align: top; padding-bottom: 1pt; border-bottom: 0pt; padding-right: 0pt; ">
                                <P style="margin-left: 0pt; color: #000000; font-size: 9pt; font-family: Arial, sans-serif; line-height: normal; margin-top: 0; margin-bottom: 0; text-align: right; margin-right: 0pt; "><FONT>71,000</FONT></P>
                            </TD>
                            <TD style="border-top: 0pt; padding-top: 0pt; border-right: 0pt; border-left: 0pt; padding-left: 0pt; vertical-align: bottom; padding-bottom: 0pt; border-bottom: 0pt; padding-right: 0pt; ">
                                <P style="margin-left: 0pt; font-size: 1pt; line-height: 1pt; margin-top: 0pt; margin-bottom: 0; margin-right: 0pt; ">&#8203;</P>
                            </TD>
                            <TD style="border-top: 0pt; padding-top: 1pt; border-right: 0pt; border-left: 0pt; padding-left: 0pt; vertical-align: bottom; padding-bottom: 1pt; border-bottom: 0pt; padding-right: 0pt; ">
                                <P style="margin-left: 11.25pt; color: #000000; text-indent: -11.25pt; font-size: 9pt; font-family: Arial, sans-serif; line-height: normal; margin-top: 0; margin-bottom: 0; text-align: left; margin-right: 0pt; "><FONT>KKR Real Estate Finance Trust, Inc., 6.50%, Series A </FONT></P>
                            </TD>
                            <TD style="border-top: 0pt; padding-top: 1pt; border-right: 0pt; border-left: 0pt; padding-left: 0pt; vertical-align: bottom; padding-bottom: 1pt; border-bottom: 0pt; padding-right: 0pt; ">
                                <P style="margin-left: 0pt; color: #000000; font-size: 9pt; font-family: Arial, sans-serif; line-height: normal; margin-top: 0; margin-bottom: 0; text-align: right; margin-right: 0pt; "><A name="pfd-nportex_083125a1311"></A><FONT>&#160;1,390,890</FONT></P>
                            </TD>
                            <TD style="border-top: 0pt; padding-top: 1pt; border-right: 0pt; border-left: 0pt; padding-left: 0pt; vertical-align: bottom; padding-bottom: 1pt; border-bottom: 0pt; padding-right: 0pt; ">
                                <P style="margin-left: 0pt; color: #000000; text-indent: 0pt; font-size: 9pt; font-family: Arial, sans-serif; line-height: normal; margin-top: 0; margin-bottom: 0; text-align: left; margin-right: 0pt; "><SUP style="font-size: 7.0pt; line-height: 7.0pt; ">(1)(2)</SUP><FONT>&#160;</FONT></P>
                            </TD>
                        </TR>
                        <TR style="min-height: 3pt; ">
                            <TD style="background-color: #cceeff; border-top: 0pt; padding-top: 1pt; border-right: 0pt; border-left: 0pt; padding-left: 0pt; vertical-align: top; padding-bottom: 1pt; border-bottom: 0pt; padding-right: 0pt; ">
                                <P style="margin-left: 0pt; color: #000000; font-size: 9pt; font-family: Arial, sans-serif; line-height: normal; margin-top: 0; margin-bottom: 0; text-align: right; margin-right: 0pt; "><FONT>23,000</FONT></P>
                            </TD>
                            <TD style="background-color: #cceeff; border-top: 0pt; padding-top: 0pt; border-right: 0pt; border-left: 0pt; padding-left: 0pt; vertical-align: bottom; padding-bottom: 0pt; border-bottom: 0pt; padding-right: 0pt; ">
                                <P style="margin-left: 0pt; font-size: 1pt; line-height: 1pt; margin-top: 0pt; margin-bottom: 0; margin-right: 0pt; ">&#8203;</P>
                            </TD>
                            <TD style="background-color: #cceeff; border-top: 0pt; padding-top: 1pt; border-right: 0pt; border-left: 0pt; padding-left: 0pt; vertical-align: bottom; padding-bottom: 1pt; border-bottom: 0pt; padding-right: 0pt; ">
                                <P style="margin-left: 11.25pt; color: #000000; text-indent: -11.25pt; font-size: 9pt; font-family: Arial, sans-serif; line-height: normal; margin-top: 0; margin-bottom: 0; text-align: left; margin-right: 0pt; "><FONT>New York Mortgage Trust, Inc., 6.875% to 10/15/26 then <br>TSFR3M + 6.13%, Series F </FONT></P>
                            </TD>
                            <TD style="background-color: #cceeff; border-top: 0pt; padding-top: 1pt; border-right: 0pt; border-left: 0pt; padding-left: 0pt; vertical-align: bottom; padding-bottom: 1pt; border-bottom: 0pt; padding-right: 0pt; ">
                                <P style="margin-left: 0pt; color: #000000; font-size: 9pt; font-family: Arial, sans-serif; line-height: normal; margin-top: 0; margin-bottom: 0; text-align: right; margin-right: 0pt; "><A name="pfd-nportex_083125a1312"></A><FONT>&#160;503,470</FONT></P>
                            </TD>
                            <TD style="background-color: #cceeff; border-top: 0pt; padding-top: 1pt; border-right: 0pt; border-left: 0pt; padding-left: 0pt; vertical-align: bottom; padding-bottom: 1pt; border-bottom: 0pt; padding-right: 0pt; ">
                                <P style="margin-left: 0pt; color: #000000; text-indent: 0pt; font-size: 9pt; font-family: Arial, sans-serif; line-height: normal; margin-top: 0; margin-bottom: 0; text-align: left; margin-right: 0pt; "><SUP style="font-size: 7.0pt; line-height: 7.0pt; ">(1)</SUP><FONT>&#160;</FONT></P>
                            </TD>
                        </TR>
                        <TR style="min-height: 3pt; ">
                            <TD style="border-top: 0pt; padding-top: 1pt; border-right: 0pt; border-left: 0pt; padding-left: 0pt; vertical-align: top; padding-bottom: 1pt; border-bottom: 0.5pt solid #000000; padding-right: 0pt; ">
                                <P style="margin-left: 0pt; color: #000000; font-size: 9pt; font-family: Arial, sans-serif; line-height: normal; margin-top: 0; margin-bottom: 0; text-align: right; margin-right: 0pt; "><FONT>21,700</FONT></P>
                            </TD>
                            <TD style="border-top: 0pt; padding-top: 0pt; border-right: 0pt; border-left: 0pt; padding-left: 0pt; vertical-align: bottom; padding-bottom: 0pt; border-bottom: 0.5pt solid #000000; padding-right: 0pt; ">
                                <P style="margin-left: 0pt; font-size: 1pt; line-height: 1pt; margin-top: 0pt; margin-bottom: 0; margin-right: 0pt; ">&#8203;</P>
                            </TD>
                            <TD style="border-top: 0pt; padding-top: 1pt; border-right: 0pt; border-left: 0pt; padding-left: 0pt; vertical-align: bottom; padding-bottom: 1pt; border-bottom: 0.5pt solid #000000; padding-right: 0pt; ">
                                <P style="margin-left: 11.25pt; color: #000000; text-indent: -11.25pt; font-size: 9pt; font-family: Arial, sans-serif; line-height: normal; margin-top: 0; margin-bottom: 0; text-align: left; margin-right: 0pt; "><FONT>TPG RE Finance Trust, Inc., 6.25%, Series C </FONT></P>
                            </TD>
                            <TD style="border-top: 0pt; padding-top: 1pt; border-right: 0pt; border-left: 0pt; padding-left: 0pt; vertical-align: bottom; padding-bottom: 1pt; border-bottom: 0.5pt solid #000000; padding-right: 0pt; ">
                                <P style="margin-left: 0pt; color: #000000; font-size: 9pt; font-family: Arial, sans-serif; line-height: normal; margin-top: 0; margin-bottom: 0; text-align: right; margin-right: 0pt; "><A name="pfd-nportex_083125a1313"></A><FONT>&#160;390,383</FONT></P>
                            </TD>
                            <TD style="border-top: 0pt; padding-top: 1pt; border-right: 0pt; border-left: 0pt; padding-left: 0pt; vertical-align: bottom; padding-bottom: 1pt; border-bottom: 0pt; padding-right: 0pt; ">
                                <P style="margin-left: 0pt; color: #000000; text-indent: 0pt; font-size: 9pt; font-family: Arial, sans-serif; line-height: normal; margin-top: 0; margin-bottom: 0; text-align: left; margin-right: 0pt; "><SUP style="font-size: 7.0pt; line-height: 7.0pt; ">(1)</SUP><FONT>&#160;</FONT></P>
                            </TD>
                        </TR>
                        <TR style="min-height: 3pt; ">
                            <TD style="background-color: #cceeff; border-top: 0.5pt solid #000000; padding-top: 1pt; border-right: 0pt; border-left: 0pt; padding-left: 0pt; vertical-align: top; padding-bottom: 1pt; border-bottom: 0pt; padding-right: 0pt; ">
                                <P style="margin-left: 0pt; color: #000000; font-size: 9pt; font-family: Arial, sans-serif; line-height: normal; margin-top: 0; margin-bottom: 0; text-align: right; margin-right: 0pt; "><FONT>&#160;</FONT></P>
                            </TD>
                            <TD style="background-color: #cceeff; border-top: 0.5pt solid #000000; padding-top: 0pt; border-right: 0pt; border-left: 0pt; padding-left: 0pt; vertical-align: bottom; padding-bottom: 0pt; border-bottom: 0pt; padding-right: 0pt; ">
                                <P style="margin-left: 0pt; font-size: 1pt; line-height: 1pt; margin-top: 0pt; margin-bottom: 0; margin-right: 0pt; ">&#8203;</P>
                            </TD>
                            <TD style="background-color: #cceeff; border-top: 0.5pt solid #000000; padding-top: 0pt; border-right: 0pt; border-left: 0pt; padding-left: 0pt; vertical-align: bottom; padding-bottom: 0pt; border-bottom: 0pt; padding-right: 0pt; ">
                                <P style="margin-left: 0pt; font-size: 1pt; line-height: 1pt; margin-top: 0pt; margin-bottom: 0; margin-right: 0pt; ">&#8203;</P>
                            </TD>
                            <TD style="background-color: #cceeff; border-top: 0.5pt solid #000000; padding-top: 1pt; border-right: 0pt; border-left: 0pt; padding-left: 0pt; vertical-align: bottom; padding-bottom: 1pt; border-bottom: 0.5pt solid #000000; padding-right: 0pt; ">
                                <P style="margin-left: 0pt; color: #000000; font-size: 9pt; font-family: Arial, sans-serif; line-height: normal; margin-top: 0; margin-bottom: 0; text-align: right; margin-right: 0pt; "><A name="pfd-nportex_083125a1314"></A><FONT>&#160;3,823,957</FONT></P>
                            </TD>
                            <TD style="background-color: #cceeff; border-top: 0pt; padding-top: 0pt; border-right: 0pt; border-left: 0pt; padding-left: 0pt; vertical-align: bottom; padding-bottom: 0pt; border-bottom: 0pt; padding-right: 0pt; ">
                                <P style="margin-left: 0pt; font-size: 1pt; line-height: 1pt; margin-top: 0pt; margin-bottom: 0; margin-right: 0pt; ">&#8203;</P>
                            </TD>
                        </TR>
                        <TR style="min-height: 3pt; ">
                            <TD style="border-top: 0pt; padding-top: 1pt; border-right: 0pt; border-left: 0pt; padding-left: 0pt; vertical-align: top; padding-bottom: 1pt; border-bottom: 0.5pt solid #000000; padding-right: 0pt; ">
                                <P style="margin-left: 0pt; color: #000000; font-size: 9pt; font-family: Arial, sans-serif; line-height: normal; margin-top: 0; margin-bottom: 0; text-align: right; margin-right: 0pt; "><FONT>&#160;</FONT></P>
                            </TD>
                            <TD style="border-top: 0pt; padding-top: 0pt; border-right: 0pt; border-left: 0pt; padding-left: 0pt; vertical-align: bottom; padding-bottom: 0pt; border-bottom: 0.5pt solid #000000; padding-right: 0pt; ">
                                <P style="margin-left: 0pt; font-size: 1pt; line-height: 1pt; margin-top: 0pt; margin-bottom: 0; margin-right: 0pt; ">&#8203;</P>
                            </TD>
                            <TD style="border-top: 0pt; padding-top: 1pt; border-right: 0pt; border-left: 0pt; padding-left: 0pt; vertical-align: bottom; padding-bottom: 1pt; border-bottom: 0.5pt solid #000000; padding-right: 0pt; ">
                                <P style="margin-left: 0pt; color: #000000; text-indent: 0pt; font-size: 9pt; font-family: Arial, sans-serif; line-height: normal; margin-top: 0; margin-bottom: 0; text-align: left; margin-right: 0pt; "><FONT style="font-weight: bold; "><B>Miscellaneous Industries &#8212; 2.2%</B></FONT></P>
                            </TD>
                            <TD style="border-top: 0.5pt solid #000000; padding-top: 0pt; border-right: 0pt; border-left: 0pt; padding-left: 0pt; vertical-align: bottom; padding-bottom: 0pt; border-bottom: 0.5pt solid #000000; padding-right: 0pt; ">
                                <P style="margin-left: 0pt; font-size: 1pt; line-height: 1pt; margin-top: 0pt; margin-bottom: 0; margin-right: 0pt; ">&#8203;</P>
                            </TD>
                            <TD style="border-top: 0pt; padding-top: 0pt; border-right: 0pt; border-left: 0pt; padding-left: 0pt; vertical-align: bottom; padding-bottom: 0pt; border-bottom: 0pt; padding-right: 0pt; ">
                                <P style="margin-left: 0pt; font-size: 1pt; line-height: 1pt; margin-top: 0pt; margin-bottom: 0; margin-right: 0pt; ">&#8203;</P>
                            </TD>
                        </TR>
                        <TR style="min-height: 3pt; ">
                            <TD style="background-color: #cceeff; border-top: 0.5pt solid #000000; padding-top: 1pt; border-right: 0pt; border-left: 0pt; padding-left: 0pt; vertical-align: top; padding-bottom: 1pt; border-bottom: 0pt; padding-right: 0pt; ">
                                <P style="margin-left: 0pt; color: #000000; font-size: 9pt; font-family: Arial, sans-serif; line-height: normal; margin-top: 0; margin-bottom: 0; text-align: right; margin-right: 0pt; "><FONT>29,200</FONT></P>
                            </TD>
                            <TD style="background-color: #cceeff; border-top: 0.5pt solid #000000; padding-top: 0pt; border-right: 0pt; border-left: 0pt; padding-left: 0pt; vertical-align: bottom; padding-bottom: 0pt; border-bottom: 0pt; padding-right: 0pt; ">
                                <P style="margin-left: 0pt; font-size: 1pt; line-height: 1pt; margin-top: 0pt; margin-bottom: 0; margin-right: 0pt; ">&#8203;</P>
                            </TD>
                            <TD style="background-color: #cceeff; border-top: 0.5pt solid #000000; padding-top: 1pt; border-right: 0pt; border-left: 0pt; padding-left: 0pt; vertical-align: bottom; padding-bottom: 1pt; border-bottom: 0pt; padding-right: 0pt; ">
                                <P style="margin-left: 11.25pt; color: #000000; text-indent: -11.25pt; font-size: 9pt; font-family: Arial, sans-serif; line-height: normal; margin-top: 0; margin-bottom: 0; text-align: left; margin-right: 0pt; "><FONT>Apollo Global Management, Inc., 7.625% to 12/15/28 then <br>T5Y + 3.226%, 09/15/53 </FONT></P>
                            </TD>
                            <TD style="background-color: #cceeff; border-top: 0.5pt solid #000000; padding-top: 1pt; border-right: 0pt; border-left: 0pt; padding-left: 0pt; vertical-align: bottom; padding-bottom: 1pt; border-bottom: 0pt; padding-right: 0pt; ">
                                <P style="margin-left: 0pt; color: #000000; font-size: 9pt; font-family: Arial, sans-serif; line-height: normal; margin-top: 0; margin-bottom: 0; text-align: right; margin-right: 0pt; "><A name="pfd-nportex_083125a1315"></A><FONT>&#160;772,340</FONT></P>
                            </TD>
                            <TD style="background-color: #cceeff; border-top: 0pt; padding-top: 0pt; border-right: 0pt; border-left: 0pt; padding-left: 0pt; vertical-align: bottom; padding-bottom: 0pt; border-bottom: 0pt; padding-right: 0pt; ">
                                <P style="margin-left: 0pt; font-size: 1pt; line-height: 1pt; margin-top: 0pt; margin-bottom: 0; margin-right: 0pt; ">&#8203;</P>
                            </TD>
                        </TR>
                        <TR style="min-height: 3pt; ">
                            <TD style="border-top: 0pt; padding-top: 1pt; border-right: 0pt; border-left: 0pt; padding-left: 0pt; vertical-align: top; padding-bottom: 1pt; border-bottom: 0pt; padding-right: 0pt; ">
                                <P style="margin-left: 0pt; color: #000000; font-size: 9pt; font-family: Arial, sans-serif; line-height: normal; margin-top: 0; margin-bottom: 0; text-align: right; margin-right: 0pt; "><FONT style="float: left; "><FONT>$</FONT></FONT><FONT style="float: right; "><FONT>785,000</FONT></FONT><FONT style="font-size: 9pt; ">&#8203;</FONT>                                    <BR clear="all"></P>
                            </TD>
                            <TD style="border-top: 0pt; padding-top: 0pt; border-right: 0pt; border-left: 0pt; padding-left: 0pt; vertical-align: bottom; padding-bottom: 0pt; border-bottom: 0pt; padding-right: 0pt; ">
                                <P style="margin-left: 0pt; font-size: 1pt; line-height: 1pt; margin-top: 0pt; margin-bottom: 0; margin-right: 0pt; ">&#8203;</P>
                            </TD>
                            <TD style="border-top: 0pt; padding-top: 1pt; border-right: 0pt; border-left: 0pt; padding-left: 0pt; vertical-align: bottom; padding-bottom: 1pt; border-bottom: 0pt; padding-right: 0pt; ">
                                <P style="margin-left: 11.25pt; color: #000000; text-indent: -11.25pt; font-size: 9pt; font-family: Arial, sans-serif; line-height: normal; margin-top: 0; margin-bottom: 0; text-align: left; margin-right: 0pt; "><FONT>FMC Corporation, 8.45% to 11/01/30 then T5Y + 4.366%, 11/01/55 </FONT></P>
                            </TD>
                            <TD style="border-top: 0pt; padding-top: 1pt; border-right: 0pt; border-left: 0pt; padding-left: 0pt; vertical-align: bottom; padding-bottom: 1pt; border-bottom: 0pt; padding-right: 0pt; ">
                                <P style="margin-left: 0pt; color: #000000; font-size: 9pt; font-family: Arial, sans-serif; line-height: normal; margin-top: 0; margin-bottom: 0; text-align: right; margin-right: 0pt; "><A name="pfd-nportex_083125a1316"></A><FONT>&#160;822,119</FONT></P>
                            </TD>
                            <TD style="border-top: 0pt; padding-top: 1pt; border-right: 0pt; border-left: 0pt; padding-left: 0pt; vertical-align: bottom; padding-bottom: 1pt; border-bottom: 0pt; padding-right: 0pt; ">
                                <P style="margin-left: 0pt; color: #000000; text-indent: 0pt; font-size: 9pt; font-family: Arial, sans-serif; line-height: normal; margin-top: 0; margin-bottom: 0; text-align: left; margin-right: 0pt; "><SUP style="font-size: 7.0pt; line-height: 7.0pt; ">(2)</SUP><FONT>&#160;</FONT></P>
                            </TD>
                        </TR>
                        <TR style="min-height: 3pt; ">
                            <TD style="background-color: #cceeff; border-top: 0pt; padding-top: 1pt; border-right: 0pt; border-left: 0pt; padding-left: 0pt; vertical-align: top; padding-bottom: 1pt; border-bottom: 0pt; padding-right: 0pt; ">
                                <P style="margin-left: 0pt; color: #000000; font-size: 9pt; font-family: Arial, sans-serif; line-height: normal; margin-top: 0; margin-bottom: 0; text-align: right; margin-right: 0pt; "><FONT>&#160;</FONT></P>
                            </TD>
                            <TD style="background-color: #cceeff; border-top: 0pt; padding-top: 0pt; border-right: 0pt; border-left: 0pt; padding-left: 0pt; vertical-align: bottom; padding-bottom: 0pt; border-bottom: 0pt; padding-right: 0pt; ">
                                <P style="margin-left: 0pt; font-size: 1pt; line-height: 1pt; margin-top: 0pt; margin-bottom: 0; margin-right: 0pt; ">&#8203;</P>
                            </TD>
                            <TD style="background-color: #cceeff; border-top: 0pt; padding-top: 1pt; border-right: 0pt; border-left: 0pt; padding-left: 0pt; vertical-align: bottom; padding-bottom: 1pt; border-bottom: 0pt; padding-right: 0pt; ">
                                <P style="margin-left: 11.25pt; color: #000000; text-indent: -11.25pt; font-size: 9pt; font-family: Arial, sans-serif; line-height: normal; margin-top: 0; margin-bottom: 0; text-align: left; margin-right: 0pt; "><FONT>Land O&#8217; Lakes, Inc.:</FONT></P>
                            </TD>
                            <TD style="background-color: #cceeff; border-top: 0pt; padding-top: 0pt; border-right: 0pt; border-left: 0pt; padding-left: 0pt; vertical-align: bottom; padding-bottom: 0pt; border-bottom: 0pt; padding-right: 0pt; ">
                                <P style="margin-left: 0pt; font-size: 1pt; line-height: 1pt; margin-top: 0pt; margin-bottom: 0; margin-right: 0pt; ">&#8203;</P>
                            </TD>
                            <TD style="background-color: #cceeff; border-top: 0pt; padding-top: 0pt; border-right: 0pt; border-left: 0pt; padding-left: 0pt; vertical-align: bottom; padding-bottom: 0pt; border-bottom: 0pt; padding-right: 0pt; ">
                                <P style="margin-left: 0pt; font-size: 1pt; line-height: 1pt; margin-top: 0pt; margin-bottom: 0; margin-right: 0pt; ">&#8203;</P>
                            </TD>
                        </TR>
                        <TR style="min-height: 3pt; ">
                            <TD style="border-top: 0pt; padding-top: 1pt; border-right: 0pt; border-left: 0pt; padding-left: 0pt; vertical-align: top; padding-bottom: 1pt; border-bottom: 0pt; padding-right: 0pt; ">
                                <P style="margin-left: 0pt; color: #000000; font-size: 9pt; font-family: Arial, sans-serif; line-height: normal; margin-top: 0; margin-bottom: 0; text-align: right; margin-right: 0pt; "><FONT style="float: left; "><FONT>$</FONT></FONT><FONT style="float: right; "><FONT>260,000</FONT></FONT><FONT style="font-size: 9pt; ">&#8203;</FONT>                                    <BR clear="all"></P>
                            </TD>
                            <TD style="border-top: 0pt; padding-top: 0pt; border-right: 0pt; border-left: 0pt; padding-left: 0pt; vertical-align: bottom; padding-bottom: 0pt; border-bottom: 0pt; padding-right: 0pt; ">
                                <P style="margin-left: 0pt; font-size: 1pt; line-height: 1pt; margin-top: 0pt; margin-bottom: 0; margin-right: 0pt; ">&#8203;</P>
                            </TD>
                            <TD style="border-top: 0pt; padding-top: 1pt; border-right: 0pt; border-left: 0pt; padding-left: 0pt; vertical-align: bottom; padding-bottom: 1pt; border-bottom: 0pt; padding-right: 0pt; ">
                                <P style="margin-left: 22.5pt; color: #000000; text-indent: -11.25pt; font-size: 9pt; font-family: Arial, sans-serif; line-height: normal; margin-top: 0; margin-bottom: 0; text-align: left; margin-right: 0pt; "><FONT>7.25%, Series B, 144A**** </FONT></P>
                            </TD>
                            <TD style="border-top: 0pt; padding-top: 1pt; border-right: 0pt; border-left: 0pt; padding-left: 0pt; vertical-align: bottom; padding-bottom: 1pt; border-bottom: 0pt; padding-right: 0pt; ">
                                <P style="margin-left: 0pt; color: #000000; font-size: 9pt; font-family: Arial, sans-serif; line-height: normal; margin-top: 0; margin-bottom: 0; text-align: right; margin-right: 0pt; "><FONT>223,540</FONT></P>
                            </TD>
                            <TD style="border-top: 0pt; padding-top: 1pt; border-right: 0pt; border-left: 0pt; padding-left: 0pt; vertical-align: bottom; padding-bottom: 1pt; border-bottom: 0pt; padding-right: 0pt; ">
                                <P style="margin-left: 0pt; color: #000000; text-indent: 0pt; font-size: 9pt; font-family: Arial, sans-serif; line-height: normal; margin-top: 0; margin-bottom: 0; text-align: left; margin-right: 0pt; "><FONT>*</FONT><SUP style="font-size: 7.0pt; line-height: 7.0pt; ">(1)</SUP><FONT>&#160;</FONT></P>
                            </TD>
                        </TR>
                        <TR style="min-height: 3pt; ">
                            <TD style="background-color: #cceeff; border-top: 0pt; padding-top: 1pt; border-right: 0pt; border-left: 0pt; padding-left: 0pt; vertical-align: top; padding-bottom: 1pt; border-bottom: 0.5pt solid #000000; padding-right: 0pt; ">
                                <P style="margin-left: 0pt; color: #000000; font-size: 9pt; font-family: Arial, sans-serif; line-height: normal; margin-top: 0; margin-bottom: 0; text-align: right; margin-right: 0pt; "><FONT style="float: left; "><FONT>$</FONT></FONT><FONT style="float: right; "><FONT>3,900,000</FONT></FONT><FONT style="font-size: 9pt; ">&#8203;</FONT>                                    <BR clear="all"></P>
                            </TD>
                            <TD style="background-color: #cceeff; border-top: 0pt; padding-top: 0pt; border-right: 0pt; border-left: 0pt; padding-left: 0pt; vertical-align: bottom; padding-bottom: 0pt; border-bottom: 0.5pt solid #000000; padding-right: 0pt; ">
                                <P style="margin-left: 0pt; font-size: 1pt; line-height: 1pt; margin-top: 0pt; margin-bottom: 0; margin-right: 0pt; ">&#8203;</P>
                            </TD>
                            <TD style="background-color: #cceeff; border-top: 0pt; padding-top: 1pt; border-right: 0pt; border-left: 0pt; padding-left: 0pt; vertical-align: bottom; padding-bottom: 1pt; border-bottom: 0.5pt solid #000000; padding-right: 0pt; ">
                                <P style="margin-left: 22.5pt; color: #000000; text-indent: -11.25pt; font-size: 9pt; font-family: Arial, sans-serif; line-height: normal; margin-top: 0; margin-bottom: 0; text-align: left; margin-right: 0pt; "><FONT>8.00%, Series A, 144A**** </FONT></P>
                            </TD>
                            <TD style="background-color: #cceeff; border-top: 0pt; padding-top: 1pt; border-right: 0pt; border-left: 0pt; padding-left: 0pt; vertical-align: bottom; padding-bottom: 1pt; border-bottom: 0.5pt solid #000000; padding-right: 0pt; ">
                                <P style="margin-left: 0pt; color: #000000; font-size: 9pt; font-family: Arial, sans-serif; line-height: normal; margin-top: 0; margin-bottom: 0; text-align: right; margin-right: 0pt; "><A name="pfd-nportex_083125a1319"></A><FONT>&#160;3,773,250</FONT></P>
                            </TD>
                            <TD style="background-color: #cceeff; border-top: 0pt; padding-top: 1pt; border-right: 0pt; border-left: 0pt; padding-left: 0pt; vertical-align: bottom; padding-bottom: 1pt; border-bottom: 0pt; padding-right: 0pt; ">
                                <P style="margin-left: 0pt; color: #000000; text-indent: 0pt; font-size: 9pt; font-family: Arial, sans-serif; line-height: normal; margin-top: 0; margin-bottom: 0; text-align: left; margin-right: 0pt; "><FONT>*</FONT><SUP style="font-size: 7.0pt; line-height: 7.0pt; ">(1)(2)</SUP><FONT>&#160;</FONT></P>
                            </TD>
                        </TR>
                        <TR style="min-height: 3pt; ">
                            <TD style="border-top: 0.5pt solid #000000; padding-top: 1pt; border-right: 0pt; border-left: 0pt; padding-left: 0pt; vertical-align: top; padding-bottom: 1pt; border-bottom: 0pt; padding-right: 0pt; ">
                                <P style="margin-left: 0pt; color: #000000; font-size: 9pt; font-family: Arial, sans-serif; line-height: normal; margin-top: 0; margin-bottom: 0; text-align: right; margin-right: 0pt; "><FONT>&#160;</FONT></P>
                            </TD>
                            <TD style="border-top: 0.5pt solid #000000; padding-top: 0pt; border-right: 0pt; border-left: 0pt; padding-left: 0pt; vertical-align: bottom; padding-bottom: 0pt; border-bottom: 0pt; padding-right: 0pt; ">
                                <P style="margin-left: 0pt; font-size: 1pt; line-height: 1pt; margin-top: 0pt; margin-bottom: 0; margin-right: 0pt; ">&#8203;</P>
                            </TD>
                            <TD style="border-top: 0.5pt solid #000000; padding-top: 1pt; border-right: 0pt; border-left: 0pt; padding-left: 0pt; vertical-align: bottom; padding-bottom: 1pt; border-bottom: 0pt; padding-right: 0pt; ">
                                <P style="margin-left: 22.5pt; color: #000000; text-indent: -11.25pt; font-size: 9pt; font-family: Arial, sans-serif; line-height: normal; margin-top: 0; margin-bottom: 0; text-align: left; margin-right: 0pt; "><FONT> </FONT></P>
                            </TD>
                            <TD style="border-top: 0.5pt solid #000000; padding-top: 1pt; border-right: 0pt; border-left: 0pt; padding-left: 0pt; vertical-align: bottom; padding-bottom: 1pt; border-bottom: 0.5pt solid #000000; padding-right: 0pt; ">
                                <P style="margin-left: 0pt; color: #000000; font-size: 9pt; font-family: Arial, sans-serif; line-height: normal; margin-top: 0; margin-bottom: 0; text-align: right; margin-right: 0pt; "><A name="pfd-nportex_083125a1320"></A><FONT>&#160;5,591,249</FONT></P>
                            </TD>
                            <TD style="border-top: 0pt; padding-top: 0pt; border-right: 0pt; border-left: 0pt; padding-left: 0pt; vertical-align: bottom; padding-bottom: 0pt; border-bottom: 0pt; padding-right: 0pt; ">
                                <P style="margin-left: 0pt; font-size: 1pt; line-height: 1pt; margin-top: 0pt; margin-bottom: 0; margin-right: 0pt; ">&#8203;</P>
                            </TD>
                        </TR>
                        <TR style="min-height: 3pt; ">
                            <TD style="background-color: #cceeff; border-top: 0pt; padding-top: 1pt; border-right: 0pt; border-left: 0pt; padding-left: 0pt; vertical-align: top; padding-bottom: 1pt; border-bottom: 0pt; padding-right: 0pt; ">
                                <P style="margin-left: 0pt; color: #000000; font-size: 9pt; font-family: Arial, sans-serif; line-height: normal; margin-top: 0; margin-bottom: 0; text-align: right; margin-right: 0pt; "><FONT>&#160;</FONT></P>
                            </TD>
                            <TD style="background-color: #cceeff; border-top: 0pt; padding-top: 0pt; border-right: 0pt; border-left: 0pt; padding-left: 0pt; vertical-align: bottom; padding-bottom: 0pt; border-bottom: 0pt; padding-right: 0pt; ">
                                <P style="margin-left: 0pt; font-size: 1pt; line-height: 1pt; margin-top: 0pt; margin-bottom: 0; margin-right: 0pt; ">&#8203;</P>
                            </TD>
                            <TD style="background-color: #cceeff; border-top: 0pt; padding-top: 1pt; border-right: 0pt; border-left: 0pt; padding-left: 0pt; vertical-align: bottom; padding-bottom: 1pt; border-bottom: 0pt; padding-right: 0pt; ">
                                <P style="margin-left: 11.25pt; color: #000000; text-indent: -11.25pt; font-size: 9pt; font-family: Arial, sans-serif; line-height: normal; margin-top: 0; margin-bottom: 0; text-align: left; margin-right: 0pt; "><FONT style="font-weight: bold; "><B>Total Preferred Stock &amp; Hybrid Preferred Securities<br></B></FONT><FONT>(Cost $192,073,335) </FONT></P>
                            </TD>
                            <TD style="background-color: #cceeff; border-top: 0.5pt solid #000000; padding-top: 1pt; border-right: 0pt; border-left: 0pt; padding-left: 0pt; vertical-align: bottom; padding-bottom: 1pt; border-bottom: 0.5pt solid #000000; padding-right: 0pt; ">
                                <P style="margin-left: 0pt; color: #000000; font-size: 9pt; font-family: Arial, sans-serif; line-height: normal; margin-top: 0; margin-bottom: 0; text-align: right; margin-right: 0pt; "><A name="pfd-nportex_083125a1321"></A><FONT>&#160;191,098,476</FONT></P>
                            </TD>
                            <TD style="background-color: #cceeff; border-top: 0pt; padding-top: 0pt; border-right: 0pt; border-left: 0pt; padding-left: 0pt; vertical-align: bottom; padding-bottom: 0pt; border-bottom: 0pt; padding-right: 0pt; ">
                                <P style="margin-left: 0pt; font-size: 1pt; line-height: 1pt; margin-top: 0pt; margin-bottom: 0; margin-right: 0pt; ">&#8203;</P>
                            </TD>
                        </TR>
                        <TR style="min-height: 3pt; ">
                            <TD style="border-top: 0pt; padding-top: 1pt; border-right: 0pt; border-left: 0pt; padding-left: 0pt; vertical-align: top; padding-bottom: 1pt; border-bottom: 0pt; padding-right: 0pt; ">
                                <P style="margin-left: 0pt; color: #000000; font-size: 9pt; font-family: Arial, sans-serif; line-height: normal; margin-top: 0; margin-bottom: 0; text-align: right; margin-right: 0pt; "><FONT>&#160;</FONT></P>
                            </TD>
                            <TD style="border-top: 0pt; padding-top: 0pt; border-right: 0pt; border-left: 0pt; padding-left: 0pt; vertical-align: bottom; padding-bottom: 0pt; border-bottom: 0pt; padding-right: 0pt; ">
                                <P style="margin-left: 0pt; font-size: 1pt; line-height: 1pt; margin-top: 0pt; margin-bottom: 0; margin-right: 0pt; ">&#8203;</P>
                            </TD>
                            <TD style="border-top: 0pt; padding-top: 0pt; border-right: 0pt; border-left: 0pt; padding-left: 0pt; vertical-align: bottom; padding-bottom: 0pt; border-bottom: 0pt; padding-right: 0pt; ">
                                <P style="margin-left: 0pt; font-size: 1pt; line-height: 1pt; margin-top: 0pt; margin-bottom: 0; margin-right: 0pt; ">&#8203;</P>
                            </TD>
                            <TD style="border-top: 0.5pt solid #000000; padding-top: 0pt; border-right: 0pt; border-left: 0pt; padding-left: 0pt; vertical-align: bottom; padding-bottom: 0pt; border-bottom: 0pt; padding-right: 0pt; ">
                                <P style="margin-left: 0pt; font-size: 1pt; line-height: 1pt; margin-top: 0pt; margin-bottom: 0; margin-right: 0pt; ">&#8203;</P>
                            </TD>
                            <TD style="border-top: 0pt; padding-top: 0pt; border-right: 0pt; border-left: 0pt; padding-left: 0pt; vertical-align: bottom; padding-bottom: 0pt; border-bottom: 0pt; padding-right: 0pt; ">
                                <P style="margin-left: 0pt; font-size: 1pt; line-height: 1pt; margin-top: 0; margin-bottom: 0; margin-right: 0pt; ">&#8203;</P>
                            </TD>
                        </TR>
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        </DIV>
        <DIV style="page-break-before: always; ">
            <P style="font-size: 5pt; margin: 0pt; ">&#8203;</P>
        </DIV>
        <DIV style="margin: auto; overflow: hidden; width: 675.0pt; position: relative; border-bottom: 2pt solid black; height: 765.0pt; ">
            <DIV style="border: 0pt; padding-top: 0pt; top: 697.5pt; left: 33.75pt; padding-left: 0pt; width: 607.5pt; padding-bottom: 0pt; position: absolute; padding-right: 0pt; height: 33.75pt; ">
                <DIV style="vertical-align: bottom; width: 607.5pt; display: table-cell; height: 33.75pt; ">
                    <!-- [if IE]><TABLE><TR style=" width: 607.5pt; height: 33.75pt;"><TD vAlign="bottom" style=" width: 607.5pt; height: 33.75pt;"><![endif]-->
                    <P style="margin-left: 0pt; color: #000000; text-indent: 0pt; font-size: 12pt; font-family: Times New Roman, Times, serif; margin-top: 0pt; margin-bottom: 0pt; text-align: center; margin-right: 0pt; "><FONT style="font-size: 8pt; font-family: Arial, sans-serif; "> <br></FONT><FONT style="font-size: 10pt; font-family: Arial, sans-serif; ">8</FONT></P>
                    <!-- [if IE]></TD></TR></TABLE><![endif]-->
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            <DIV style="border: 0pt; padding-top: 0pt; top: 33.75pt; left: 33.75pt; padding-left: 0pt; width: 607.5pt; padding-bottom: 0pt; position: absolute; padding-right: 0pt; height: 86.25pt; ">
                <P style="border-top: 1pt solid ; color: #000000; font-size: 12pt; margin-right: 0pt; margin-left: 0pt; text-indent: 0pt; font-family: Times New Roman, Times, serif; margin-top: 0pt; margin-bottom: 0pt; "><FONT style="font-size: 8pt; font-family: Arial, sans-serif; ">&#160;</FONT></P>
                <P style="margin-left: 0pt; color: #000000; text-indent: 0pt; font-size: 12pt; font-family: Times New Roman, Times, serif; margin-top: 0pt; margin-bottom: 0pt; margin-right: 0pt; "><FONT style="font-size: 8pt; font-family: Arial, sans-serif; ">Flaherty &amp; Crumrine Preferred and Income Fund Incorporated</FONT></P>
                <P style="margin-left: 0pt; color: #000000; text-indent: 0pt; font-size: 12pt; font-family: Times New Roman, Times, serif; margin-top: 0pt; margin-bottom: 0pt; margin-right: 0pt; "><FONT style="font-family: Arial, sans-serif; ">PORTFOLIO OF INVESTMENTS (Continued)</FONT></P>
                <P style="margin-left: 0pt; color: #000000; text-indent: 0pt; font-size: 12pt; font-family: Times New Roman, Times, serif; margin-top: 0pt; margin-bottom: 0pt; margin-right: 0pt; "><FONT style="font-size: 10pt; font-family: Arial, sans-serif; ">August 31, 2025&#160;(Unaudited)</FONT></P>
                <P style="color: #000000; font-size: 12pt; border-bottom: 1pt solid ; margin-right: 0pt; margin-left: 0pt; text-indent: 0pt; font-family: Times New Roman, Times, serif; margin-top: 0pt; margin-bottom: 0pt; "><FONT style="font-size: 8pt; font-family: Arial, sans-serif; ">&#160;</FONT></P>
            </DIV>
            <DIV style="border: 0pt; padding-top: 0pt; top: 120pt; left: 33.75pt; padding-left: 0pt; width: 607.5pt; padding-bottom: 0pt; position: absolute; padding-right: 0pt; height: 568.5pt; ">
                <DIV style="margin-left: 0pt; color: #000000; font-size: 9pt; font-family: Arial, sans-serif; line-height: 11pt; margin-top: 0pt; margin-bottom: 0pt; text-align: justify; margin-right: 0pt; ">
                    <TABLE style="width: 623.75pt; margin-top: 0pt; margin-bottom: 0pt; table-layout: fixed; border-collapse: collapse; ">
                        <TR style="margin: 0; height: 0; ">
                            <TD style="border: 0; width: 68.75pt; padding: 0; margin: 0; ">
                            </TD>
                            <TD style="border: 0; width: 15.0pt; padding: 0; margin: 0; ">
                            </TD>
                            <TD style="border: 0; width: 412.5pt; padding: 0; margin: 0; ">
                            </TD>
                            <TD style="border: 0; width: 82.5pt; padding: 0; margin: 0; ">
                            </TD>
                            <TD style="border: 0; width: 45.0pt; padding: 0; margin: 0; ">
                            </TD>
                        </TR>
                        <TR style="min-height: 3pt; ">
                            <TD style="border-top: 0pt; padding-top: 1pt; border-right: 0pt; border-left: 0pt; padding-left: 0pt; vertical-align: bottom; padding-bottom: 1pt; border-bottom: 0.5pt solid #000000; padding-right: 0pt; ">
                                <P style="margin-left: 0pt; color: #000000; text-indent: 0pt; font-size: 8pt; font-family: Arial, sans-serif; line-height: normal; margin-top: 0; margin-bottom: 0; text-align: center; margin-right: 0pt; "><FONT style="font-weight: bold; "><B>Shares/$ Par</B></FONT></P>
                            </TD>
                            <TD style="border-top: 0pt; padding-top: 0pt; border-right: 0pt; border-left: 0pt; padding-left: 0pt; vertical-align: top; padding-bottom: 0pt; border-bottom: 0.5pt solid #000000; padding-right: 0pt; ">
                                <P style="margin-left: 0pt; font-size: 1pt; line-height: 1pt; margin-top: 0pt; margin-bottom: 0; margin-right: 0pt; ">&#8203;</P>
                            </TD>
                            <TD style="border-top: 0pt; padding-top: 0pt; border-right: 0pt; border-left: 0pt; padding-left: 0pt; vertical-align: bottom; padding-bottom: 0pt; border-bottom: 0.5pt solid #000000; padding-right: 0pt; ">
                                <P style="margin-left: 0pt; font-size: 1pt; line-height: 1pt; margin-top: 0pt; margin-bottom: 0; margin-right: 0pt; ">&#8203;</P>
                            </TD>
                            <TD style="border-top: 0pt; padding-top: 1pt; border-right: 0pt; border-left: 0pt; padding-left: 0pt; vertical-align: bottom; padding-bottom: 1pt; border-bottom: 0.5pt solid #000000; padding-right: 0pt; ">
                                <P style="margin-left: 0pt; color: #000000; text-indent: 0pt; font-size: 8pt; font-family: Arial, sans-serif; line-height: normal; margin-top: 0; margin-bottom: 0; text-align: center; margin-right: 0pt; "><FONT style="font-weight: bold; "><B>Value</B></FONT></P>
                            </TD>
                            <TD style="border-top: 0pt; padding-top: 0pt; border-right: 0pt; border-left: 0pt; padding-left: 0pt; vertical-align: bottom; padding-bottom: 0pt; border-bottom: 0pt; padding-right: 0pt; ">
                                <P style="margin-left: 0pt; font-size: 1pt; line-height: 1pt; margin-top: 0pt; margin-bottom: 0; margin-right: 0pt; ">&#8203;</P>
                            </TD>
                        </TR>
                        <TR style="min-height: 3pt; ">
                            <TD colspan="3" style="background-color: #cceeff; border-top: 0pt; padding-top: 1pt; border-right: 0pt; border-left: 0pt; padding-left: 0pt; vertical-align: top; padding-bottom: 1pt; border-bottom: 0pt; padding-right: 0pt; ">
                                <P style="margin-left: 0pt; color: #000000; text-indent: 0pt; font-size: 9pt; font-family: Arial, sans-serif; line-height: normal; margin-top: 0; margin-bottom: 0; text-align: left; margin-right: 0pt; "><FONT style="font-weight: bold; "><B>Contingent Capital Securities</B></FONT><SUP style="font-size: 7.0pt; line-height: 7.0pt; font-weight: bold; "><B>&#8224;</B></SUP><FONT style="font-weight: bold; "><B> &#8212; 20.6%</B></FONT></P>
                            </TD>
                            <TD style="background-color: #cceeff; border-top: 0pt; padding-top: 0pt; border-right: 0pt; border-left: 0pt; padding-left: 0pt; vertical-align: bottom; padding-bottom: 0pt; border-bottom: 0pt; padding-right: 0pt; ">
                                <P style="margin-left: 0pt; font-size: 1pt; line-height: 1pt; margin-top: 0pt; margin-bottom: 0; margin-right: 0pt; ">&#8203;</P>
                            </TD>
                            <TD style="background-color: #cceeff; border-top: 0pt; padding-top: 0pt; border-right: 0pt; border-left: 0pt; padding-left: 0pt; vertical-align: bottom; padding-bottom: 0pt; border-bottom: 0pt; padding-right: 0pt; ">
                                <P style="margin-left: 0pt; font-size: 1pt; line-height: 1pt; margin-top: 0pt; margin-bottom: 0; margin-right: 0pt; ">&#8203;</P>
                            </TD>
                        </TR>
                        <TR style="min-height: 3pt; ">
                            <TD style="border-top: 0pt; padding-top: 1pt; border-right: 0pt; border-left: 0pt; padding-left: 0pt; vertical-align: top; padding-bottom: 1pt; border-bottom: 0.5pt solid #000000; padding-right: 0pt; ">
                                <P style="margin-left: 0pt; color: #000000; font-size: 9pt; font-family: Arial, sans-serif; line-height: normal; margin-top: 0; margin-bottom: 0; text-align: right; margin-right: 0pt; "><FONT>&#160;</FONT></P>
                            </TD>
                            <TD style="border-top: 0pt; padding-top: 0pt; border-right: 0pt; border-left: 0pt; padding-left: 0pt; vertical-align: bottom; padding-bottom: 0pt; border-bottom: 0.5pt solid #000000; padding-right: 0pt; ">
                                <P style="margin-left: 0pt; font-size: 1pt; line-height: 1pt; margin-top: 0pt; margin-bottom: 0; margin-right: 0pt; ">&#8203;</P>
                            </TD>
                            <TD style="border-top: 0pt; padding-top: 1pt; border-right: 0pt; border-left: 0pt; padding-left: 0pt; vertical-align: bottom; padding-bottom: 1pt; border-bottom: 0.5pt solid #000000; padding-right: 0pt; ">
                                <P style="margin-left: 0pt; color: #000000; text-indent: 0pt; font-size: 9pt; font-family: Arial, sans-serif; line-height: normal; margin-top: 0; margin-bottom: 0; text-align: left; margin-right: 0pt; "><FONT style="font-weight: bold; "><B>Banking &#8212; 20.6%</B></FONT></P>
                            </TD>
                            <TD style="border-top: 0pt; padding-top: 0pt; border-right: 0pt; border-left: 0pt; padding-left: 0pt; vertical-align: bottom; padding-bottom: 0pt; border-bottom: 0.5pt solid #000000; padding-right: 0pt; ">
                                <P style="margin-left: 0pt; font-size: 1pt; line-height: 1pt; margin-top: 0pt; margin-bottom: 0; margin-right: 0pt; ">&#8203;</P>
                            </TD>
                            <TD style="border-top: 0pt; padding-top: 0pt; border-right: 0pt; border-left: 0pt; padding-left: 0pt; vertical-align: bottom; padding-bottom: 0pt; border-bottom: 0pt; padding-right: 0pt; ">
                                <P style="margin-left: 0pt; font-size: 1pt; line-height: 1pt; margin-top: 0pt; margin-bottom: 0; margin-right: 0pt; ">&#8203;</P>
                            </TD>
                        </TR>
                        <TR style="min-height: 3pt; ">
                            <TD style="background-color: #cceeff; border-top: 0.5pt solid #000000; padding-top: 1pt; border-right: 0pt; border-left: 0pt; padding-left: 0pt; vertical-align: top; padding-bottom: 1pt; border-bottom: 0pt; padding-right: 0pt; ">
                                <P style="margin-left: 0pt; color: #000000; font-size: 9pt; font-family: Arial, sans-serif; line-height: normal; margin-top: 0; margin-bottom: 0; text-align: right; margin-right: 0pt; "><FONT>&#160;</FONT></P>
                            </TD>
                            <TD style="background-color: #cceeff; border-top: 0.5pt solid #000000; padding-top: 0pt; border-right: 0pt; border-left: 0pt; padding-left: 0pt; vertical-align: bottom; padding-bottom: 0pt; border-bottom: 0pt; padding-right: 0pt; ">
                                <P style="margin-left: 0pt; font-size: 1pt; line-height: 1pt; margin-top: 0pt; margin-bottom: 0; margin-right: 0pt; ">&#8203;</P>
                            </TD>
                            <TD style="background-color: #cceeff; border-top: 0.5pt solid #000000; padding-top: 1pt; border-right: 0pt; border-left: 0pt; padding-left: 0pt; vertical-align: bottom; padding-bottom: 1pt; border-bottom: 0pt; padding-right: 0pt; ">
                                <P style="margin-left: 11.25pt; color: #000000; text-indent: -11.25pt; font-size: 9pt; font-family: Arial, sans-serif; line-height: normal; margin-top: 0; margin-bottom: 0; text-align: left; margin-right: 0pt; "><FONT>Banco Bilbao Vizcaya Argentaria SA:</FONT></P>
                            </TD>
                            <TD style="background-color: #cceeff; border-top: 0.5pt solid #000000; padding-top: 0pt; border-right: 0pt; border-left: 0pt; padding-left: 0pt; vertical-align: bottom; padding-bottom: 0pt; border-bottom: 0pt; padding-right: 0pt; ">
                                <P style="margin-left: 0pt; font-size: 1pt; line-height: 1pt; margin-top: 0pt; margin-bottom: 0; margin-right: 0pt; ">&#8203;</P>
                            </TD>
                            <TD style="background-color: #cceeff; border-top: 0pt; padding-top: 0pt; border-right: 0pt; border-left: 0pt; padding-left: 0pt; vertical-align: bottom; padding-bottom: 0pt; border-bottom: 0pt; padding-right: 0pt; ">
                                <P style="margin-left: 0pt; font-size: 1pt; line-height: 1pt; margin-top: 0pt; margin-bottom: 0; margin-right: 0pt; ">&#8203;</P>
                            </TD>
                        </TR>
                        <TR style="min-height: 3pt; ">
                            <TD style="border-top: 0pt; padding-top: 1pt; border-right: 0pt; border-left: 0pt; padding-left: 0pt; vertical-align: top; padding-bottom: 1pt; border-bottom: 0pt; padding-right: 0pt; ">
                                <P style="margin-left: 0pt; color: #000000; font-size: 9pt; font-family: Arial, sans-serif; line-height: normal; margin-top: 0; margin-bottom: 0; text-align: right; margin-right: 0pt; "><FONT style="float: left; "><FONT>$</FONT></FONT><FONT style="float: right; "><FONT>2,400,000</FONT></FONT><FONT style="font-size: 9pt; ">&#8203;</FONT>                                    <BR clear="all"></P>
                            </TD>
                            <TD style="border-top: 0pt; padding-top: 0pt; border-right: 0pt; border-left: 0pt; padding-left: 0pt; vertical-align: bottom; padding-bottom: 0pt; border-bottom: 0pt; padding-right: 0pt; ">
                                <P style="margin-left: 0pt; font-size: 1pt; line-height: 1pt; margin-top: 0pt; margin-bottom: 0; margin-right: 0pt; ">&#8203;</P>
                            </TD>
                            <TD style="border-top: 0pt; padding-top: 1pt; border-right: 0pt; border-left: 0pt; padding-left: 0pt; vertical-align: bottom; padding-bottom: 1pt; border-bottom: 0pt; padding-right: 0pt; ">
                                <P style="margin-left: 22.5pt; color: #000000; text-indent: -11.25pt; font-size: 9pt; font-family: Arial, sans-serif; line-height: normal; margin-top: 0; margin-bottom: 0; text-align: left; margin-right: 0pt; "><FONT>6.125% to 11/16/27 then SW5 + 3.87% </FONT></P>
                            </TD>
                            <TD style="border-top: 0pt; padding-top: 1pt; border-right: 0pt; border-left: 0pt; padding-left: 0pt; vertical-align: bottom; padding-bottom: 1pt; border-bottom: 0pt; padding-right: 0pt; ">
                                <P style="margin-left: 0pt; color: #000000; font-size: 9pt; font-family: Arial, sans-serif; line-height: normal; margin-top: 0; margin-bottom: 0; text-align: right; margin-right: 0pt; "><FONT style="float: left; "><FONT>$</FONT></FONT><FONT style="float: right; "><A name="pfd-nportex_083125a1322"></A><FONT>&#160;2,394,356</FONT></FONT><FONT style="font-size: 9pt; ">&#8203;</FONT>                                    <BR clear="all"></P>
                            </TD>
                            <TD style="border-top: 0pt; padding-top: 1pt; border-right: 0pt; border-left: 0pt; padding-left: 0pt; vertical-align: bottom; padding-bottom: 1pt; border-bottom: 0pt; padding-right: 0pt; ">
                                <P style="margin-left: 0pt; color: #000000; text-indent: 0pt; font-size: 9pt; font-family: Arial, sans-serif; line-height: normal; margin-top: 0; margin-bottom: 0; text-align: left; margin-right: 0pt; "><FONT>**</FONT><SUP style="font-size: 7.0pt; line-height: 7.0pt; ">(1)(2)(5)</SUP><FONT>&#160;</FONT></P>
                            </TD>
                        </TR>
                        <TR style="min-height: 3pt; ">
                            <TD style="background-color: #cceeff; border-top: 0pt; padding-top: 1pt; border-right: 0pt; border-left: 0pt; padding-left: 0pt; vertical-align: top; padding-bottom: 1pt; border-bottom: 0pt; padding-right: 0pt; ">
                                <P style="margin-left: 0pt; color: #000000; font-size: 9pt; font-family: Arial, sans-serif; line-height: normal; margin-top: 0; margin-bottom: 0; text-align: right; margin-right: 0pt; "><FONT style="float: left; "><FONT>$</FONT></FONT><FONT style="float: right; "><FONT>1,600,000</FONT></FONT><FONT style="font-size: 9pt; ">&#8203;</FONT>                                    <BR clear="all"></P>
                            </TD>
                            <TD style="background-color: #cceeff; border-top: 0pt; padding-top: 0pt; border-right: 0pt; border-left: 0pt; padding-left: 0pt; vertical-align: bottom; padding-bottom: 0pt; border-bottom: 0pt; padding-right: 0pt; ">
                                <P style="margin-left: 0pt; font-size: 1pt; line-height: 1pt; margin-top: 0pt; margin-bottom: 0; margin-right: 0pt; ">&#8203;</P>
                            </TD>
                            <TD style="background-color: #cceeff; border-top: 0pt; padding-top: 1pt; border-right: 0pt; border-left: 0pt; padding-left: 0pt; vertical-align: bottom; padding-bottom: 1pt; border-bottom: 0pt; padding-right: 0pt; ">
                                <P style="margin-left: 22.5pt; color: #000000; text-indent: -11.25pt; font-size: 9pt; font-family: Arial, sans-serif; line-height: normal; margin-top: 0; margin-bottom: 0; text-align: left; margin-right: 0pt; "><FONT>9.375% to 09/19/29 then T5Y + 5.099%, Series 12 </FONT></P>
                            </TD>
                            <TD style="background-color: #cceeff; border-top: 0pt; padding-top: 1pt; border-right: 0pt; border-left: 0pt; padding-left: 0pt; vertical-align: bottom; padding-bottom: 1pt; border-bottom: 0pt; padding-right: 0pt; ">
                                <P style="margin-left: 0pt; color: #000000; font-size: 9pt; font-family: Arial, sans-serif; line-height: normal; margin-top: 0; margin-bottom: 0; text-align: right; margin-right: 0pt; "><A name="pfd-nportex_083125a1323"></A><FONT>&#160;1,772,501</FONT></P>
                            </TD>
                            <TD style="background-color: #cceeff; border-top: 0pt; padding-top: 1pt; border-right: 0pt; border-left: 0pt; padding-left: 0pt; vertical-align: bottom; padding-bottom: 1pt; border-bottom: 0pt; padding-right: 0pt; ">
                                <P style="margin-left: 0pt; color: #000000; text-indent: 0pt; font-size: 9pt; font-family: Arial, sans-serif; line-height: normal; margin-top: 0; margin-bottom: 0; text-align: left; margin-right: 0pt; "><FONT>**</FONT><SUP style="font-size: 7.0pt; line-height: 7.0pt; ">(1)(2)(5)</SUP><FONT>&#160;</FONT></P>
                            </TD>
                        </TR>
                        <TR style="min-height: 3pt; ">
                            <TD style="border-top: 0pt; padding-top: 1pt; border-right: 0pt; border-left: 0pt; padding-left: 0pt; vertical-align: top; padding-bottom: 1pt; border-bottom: 0pt; padding-right: 0pt; ">
                                <P style="margin-left: 0pt; color: #000000; font-size: 9pt; font-family: Arial, sans-serif; line-height: normal; margin-top: 0; margin-bottom: 0; text-align: right; margin-right: 0pt; "><FONT>&#160;</FONT></P>
                            </TD>
                            <TD style="border-top: 0pt; padding-top: 0pt; border-right: 0pt; border-left: 0pt; padding-left: 0pt; vertical-align: bottom; padding-bottom: 0pt; border-bottom: 0pt; padding-right: 0pt; ">
                                <P style="margin-left: 0pt; font-size: 1pt; line-height: 1pt; margin-top: 0pt; margin-bottom: 0; margin-right: 0pt; ">&#8203;</P>
                            </TD>
                            <TD style="border-top: 0pt; padding-top: 1pt; border-right: 0pt; border-left: 0pt; padding-left: 0pt; vertical-align: bottom; padding-bottom: 1pt; border-bottom: 0pt; padding-right: 0pt; ">
                                <P style="margin-left: 11.25pt; color: #000000; text-indent: -11.25pt; font-size: 9pt; font-family: Arial, sans-serif; line-height: normal; margin-top: 0; margin-bottom: 0; text-align: left; margin-right: 0pt; "><FONT>Banco Mercantil del Norte SA:</FONT></P>
                            </TD>
                            <TD style="border-top: 0pt; padding-top: 0pt; border-right: 0pt; border-left: 0pt; padding-left: 0pt; vertical-align: bottom; padding-bottom: 0pt; border-bottom: 0pt; padding-right: 0pt; ">
                                <P style="margin-left: 0pt; font-size: 1pt; line-height: 1pt; margin-top: 0pt; margin-bottom: 0; margin-right: 0pt; ">&#8203;</P>
                            </TD>
                            <TD style="border-top: 0pt; padding-top: 0pt; border-right: 0pt; border-left: 0pt; padding-left: 0pt; vertical-align: bottom; padding-bottom: 0pt; border-bottom: 0pt; padding-right: 0pt; ">
                                <P style="margin-left: 0pt; font-size: 1pt; line-height: 1pt; margin-top: 0pt; margin-bottom: 0; margin-right: 0pt; ">&#8203;</P>
                            </TD>
                        </TR>
                        <TR style="min-height: 3pt; ">
                            <TD style="background-color: #cceeff; border-top: 0pt; padding-top: 1pt; border-right: 0pt; border-left: 0pt; padding-left: 0pt; vertical-align: top; padding-bottom: 1pt; border-bottom: 0pt; padding-right: 0pt; ">
                                <P style="margin-left: 0pt; color: #000000; font-size: 9pt; font-family: Arial, sans-serif; line-height: normal; margin-top: 0; margin-bottom: 0; text-align: right; margin-right: 0pt; "><FONT style="float: left; "><FONT>$</FONT></FONT><FONT style="float: right; "><FONT>600,000</FONT></FONT><FONT style="font-size: 9pt; ">&#8203;</FONT>                                    <BR clear="all"></P>
                            </TD>
                            <TD style="background-color: #cceeff; border-top: 0pt; padding-top: 0pt; border-right: 0pt; border-left: 0pt; padding-left: 0pt; vertical-align: bottom; padding-bottom: 0pt; border-bottom: 0pt; padding-right: 0pt; ">
                                <P style="margin-left: 0pt; font-size: 1pt; line-height: 1pt; margin-top: 0pt; margin-bottom: 0; margin-right: 0pt; ">&#8203;</P>
                            </TD>
                            <TD style="background-color: #cceeff; border-top: 0pt; padding-top: 1pt; border-right: 0pt; border-left: 0pt; padding-left: 0pt; vertical-align: bottom; padding-bottom: 1pt; border-bottom: 0pt; padding-right: 0pt; ">
                                <P style="margin-left: 22.5pt; color: #000000; text-indent: -11.25pt; font-size: 9pt; font-family: Arial, sans-serif; line-height: normal; margin-top: 0; margin-bottom: 0; text-align: left; margin-right: 0pt; "><FONT>6.625% to 01/24/32 then T10Y + 5.034%, 144A**** </FONT></P>
                            </TD>
                            <TD style="background-color: #cceeff; border-top: 0pt; padding-top: 1pt; border-right: 0pt; border-left: 0pt; padding-left: 0pt; vertical-align: bottom; padding-bottom: 1pt; border-bottom: 0pt; padding-right: 0pt; ">
                                <P style="margin-left: 0pt; color: #000000; font-size: 9pt; font-family: Arial, sans-serif; line-height: normal; margin-top: 0; margin-bottom: 0; text-align: right; margin-right: 0pt; "><A name="pfd-nportex_083125a1324"></A><FONT>&#160;578,068</FONT></P>
                            </TD>
                            <TD style="background-color: #cceeff; border-top: 0pt; padding-top: 1pt; border-right: 0pt; border-left: 0pt; padding-left: 0pt; vertical-align: bottom; padding-bottom: 1pt; border-bottom: 0pt; padding-right: 0pt; ">
                                <P style="margin-left: 0pt; color: #000000; text-indent: 0pt; font-size: 9pt; font-family: Arial, sans-serif; line-height: normal; margin-top: 0; margin-bottom: 0; text-align: left; margin-right: 0pt; "><FONT>**</FONT><SUP style="font-size: 7.0pt; line-height: 7.0pt; ">(1)(5)</SUP><FONT>&#160;</FONT></P>
                            </TD>
                        </TR>
                        <TR style="min-height: 3pt; ">
                            <TD style="border-top: 0pt; padding-top: 1pt; border-right: 0pt; border-left: 0pt; padding-left: 0pt; vertical-align: top; padding-bottom: 1pt; border-bottom: 0pt; padding-right: 0pt; ">
                                <P style="margin-left: 0pt; color: #000000; font-size: 9pt; font-family: Arial, sans-serif; line-height: normal; margin-top: 0; margin-bottom: 0; text-align: right; margin-right: 0pt; "><FONT style="float: left; "><FONT>$</FONT></FONT><FONT style="float: right; "><FONT>255,000</FONT></FONT><FONT style="font-size: 9pt; ">&#8203;</FONT>                                    <BR clear="all"></P>
                            </TD>
                            <TD style="border-top: 0pt; padding-top: 0pt; border-right: 0pt; border-left: 0pt; padding-left: 0pt; vertical-align: bottom; padding-bottom: 0pt; border-bottom: 0pt; padding-right: 0pt; ">
                                <P style="margin-left: 0pt; font-size: 1pt; line-height: 1pt; margin-top: 0pt; margin-bottom: 0; margin-right: 0pt; ">&#8203;</P>
                            </TD>
                            <TD style="border-top: 0pt; padding-top: 1pt; border-right: 0pt; border-left: 0pt; padding-left: 0pt; vertical-align: bottom; padding-bottom: 1pt; border-bottom: 0pt; padding-right: 0pt; ">
                                <P style="margin-left: 22.5pt; color: #000000; text-indent: -11.25pt; font-size: 9pt; font-family: Arial, sans-serif; line-height: normal; margin-top: 0; margin-bottom: 0; text-align: left; margin-right: 0pt; "><FONT>7.50% to 06/27/29 then T10Y + 5.47%, 144A**** </FONT></P>
                            </TD>
                            <TD style="border-top: 0pt; padding-top: 1pt; border-right: 0pt; border-left: 0pt; padding-left: 0pt; vertical-align: bottom; padding-bottom: 1pt; border-bottom: 0pt; padding-right: 0pt; ">
                                <P style="margin-left: 0pt; color: #000000; font-size: 9pt; font-family: Arial, sans-serif; line-height: normal; margin-top: 0; margin-bottom: 0; text-align: right; margin-right: 0pt; "><A name="pfd-nportex_083125a1325"></A><FONT>&#160;257,816</FONT></P>
                            </TD>
                            <TD style="border-top: 0pt; padding-top: 1pt; border-right: 0pt; border-left: 0pt; padding-left: 0pt; vertical-align: bottom; padding-bottom: 1pt; border-bottom: 0pt; padding-right: 0pt; ">
                                <P style="margin-left: 0pt; color: #000000; text-indent: 0pt; font-size: 9pt; font-family: Arial, sans-serif; line-height: normal; margin-top: 0; margin-bottom: 0; text-align: left; margin-right: 0pt; "><FONT>**</FONT><SUP style="font-size: 7.0pt; line-height: 7.0pt; ">(1)(5)</SUP><FONT>&#160;</FONT></P>
                            </TD>
                        </TR>
                        <TR style="min-height: 3pt; ">
                            <TD style="background-color: #cceeff; border-top: 0pt; padding-top: 1pt; border-right: 0pt; border-left: 0pt; padding-left: 0pt; vertical-align: top; padding-bottom: 1pt; border-bottom: 0pt; padding-right: 0pt; ">
                                <P style="margin-left: 0pt; color: #000000; font-size: 9pt; font-family: Arial, sans-serif; line-height: normal; margin-top: 0; margin-bottom: 0; text-align: right; margin-right: 0pt; "><FONT style="float: left; "><FONT>$</FONT></FONT><FONT style="float: right; "><FONT>530,000</FONT></FONT><FONT style="font-size: 9pt; ">&#8203;</FONT>                                    <BR clear="all"></P>
                            </TD>
                            <TD style="background-color: #cceeff; border-top: 0pt; padding-top: 0pt; border-right: 0pt; border-left: 0pt; padding-left: 0pt; vertical-align: bottom; padding-bottom: 0pt; border-bottom: 0pt; padding-right: 0pt; ">
                                <P style="margin-left: 0pt; font-size: 1pt; line-height: 1pt; margin-top: 0pt; margin-bottom: 0; margin-right: 0pt; ">&#8203;</P>
                            </TD>
                            <TD style="background-color: #cceeff; border-top: 0pt; padding-top: 1pt; border-right: 0pt; border-left: 0pt; padding-left: 0pt; vertical-align: bottom; padding-bottom: 1pt; border-bottom: 0pt; padding-right: 0pt; ">
                                <P style="margin-left: 22.5pt; color: #000000; text-indent: -11.25pt; font-size: 9pt; font-family: Arial, sans-serif; line-height: normal; margin-top: 0; margin-bottom: 0; text-align: left; margin-right: 0pt; "><FONT>7.625% to 01/10/28 then T10Y + 5.353%, 144A**** </FONT></P>
                            </TD>
                            <TD style="background-color: #cceeff; border-top: 0pt; padding-top: 1pt; border-right: 0pt; border-left: 0pt; padding-left: 0pt; vertical-align: bottom; padding-bottom: 1pt; border-bottom: 0pt; padding-right: 0pt; ">
                                <P style="margin-left: 0pt; color: #000000; font-size: 9pt; font-family: Arial, sans-serif; line-height: normal; margin-top: 0; margin-bottom: 0; text-align: right; margin-right: 0pt; "><A name="pfd-nportex_083125a1326"></A><FONT>&#160;539,222</FONT></P>
                            </TD>
                            <TD style="background-color: #cceeff; border-top: 0pt; padding-top: 1pt; border-right: 0pt; border-left: 0pt; padding-left: 0pt; vertical-align: bottom; padding-bottom: 1pt; border-bottom: 0pt; padding-right: 0pt; ">
                                <P style="margin-left: 0pt; color: #000000; text-indent: 0pt; font-size: 9pt; font-family: Arial, sans-serif; line-height: normal; margin-top: 0; margin-bottom: 0; text-align: left; margin-right: 0pt; "><FONT>**</FONT><SUP style="font-size: 7.0pt; line-height: 7.0pt; ">(1)(2)(5)</SUP><FONT>&#160;</FONT></P>
                            </TD>
                        </TR>
                        <TR style="min-height: 3pt; ">
                            <TD style="border-top: 0pt; padding-top: 1pt; border-right: 0pt; border-left: 0pt; padding-left: 0pt; vertical-align: top; padding-bottom: 1pt; border-bottom: 0pt; padding-right: 0pt; ">
                                <P style="margin-left: 0pt; color: #000000; font-size: 9pt; font-family: Arial, sans-serif; line-height: normal; margin-top: 0; margin-bottom: 0; text-align: right; margin-right: 0pt; "><FONT style="float: left; "><FONT>$</FONT></FONT><FONT style="float: right; "><FONT>820,000</FONT></FONT><FONT style="font-size: 9pt; ">&#8203;</FONT>                                    <BR clear="all"></P>
                            </TD>
                            <TD style="border-top: 0pt; padding-top: 0pt; border-right: 0pt; border-left: 0pt; padding-left: 0pt; vertical-align: bottom; padding-bottom: 0pt; border-bottom: 0pt; padding-right: 0pt; ">
                                <P style="margin-left: 0pt; font-size: 1pt; line-height: 1pt; margin-top: 0pt; margin-bottom: 0; margin-right: 0pt; ">&#8203;</P>
                            </TD>
                            <TD style="border-top: 0pt; padding-top: 1pt; border-right: 0pt; border-left: 0pt; padding-left: 0pt; vertical-align: bottom; padding-bottom: 1pt; border-bottom: 0pt; padding-right: 0pt; ">
                                <P style="margin-left: 22.5pt; color: #000000; text-indent: -11.25pt; font-size: 9pt; font-family: Arial, sans-serif; line-height: normal; margin-top: 0; margin-bottom: 0; text-align: left; margin-right: 0pt; "><FONT>8.75% to 05/20/35 then T10Y + 4.299%, 144A**** </FONT></P>
                            </TD>
                            <TD style="border-top: 0pt; padding-top: 1pt; border-right: 0pt; border-left: 0pt; padding-left: 0pt; vertical-align: bottom; padding-bottom: 1pt; border-bottom: 0pt; padding-right: 0pt; ">
                                <P style="margin-left: 0pt; color: #000000; font-size: 9pt; font-family: Arial, sans-serif; line-height: normal; margin-top: 0; margin-bottom: 0; text-align: right; margin-right: 0pt; "><A name="pfd-nportex_083125a1327"></A><FONT>&#160;864,589</FONT></P>
                            </TD>
                            <TD style="border-top: 0pt; padding-top: 1pt; border-right: 0pt; border-left: 0pt; padding-left: 0pt; vertical-align: bottom; padding-bottom: 1pt; border-bottom: 0pt; padding-right: 0pt; ">
                                <P style="margin-left: 0pt; color: #000000; text-indent: 0pt; font-size: 9pt; font-family: Arial, sans-serif; line-height: normal; margin-top: 0; margin-bottom: 0; text-align: left; margin-right: 0pt; "><FONT>**</FONT><SUP style="font-size: 7.0pt; line-height: 7.0pt; ">(1)(5)</SUP><FONT>&#160;</FONT></P>
                            </TD>
                        </TR>
                        <TR style="min-height: 3pt; ">
                            <TD style="background-color: #cceeff; border-top: 0pt; padding-top: 1pt; border-right: 0pt; border-left: 0pt; padding-left: 0pt; vertical-align: top; padding-bottom: 1pt; border-bottom: 0pt; padding-right: 0pt; ">
                                <P style="margin-left: 0pt; color: #000000; font-size: 9pt; font-family: Arial, sans-serif; line-height: normal; margin-top: 0; margin-bottom: 0; text-align: right; margin-right: 0pt; "><FONT>&#160;</FONT></P>
                            </TD>
                            <TD style="background-color: #cceeff; border-top: 0pt; padding-top: 0pt; border-right: 0pt; border-left: 0pt; padding-left: 0pt; vertical-align: bottom; padding-bottom: 0pt; border-bottom: 0pt; padding-right: 0pt; ">
                                <P style="margin-left: 0pt; font-size: 1pt; line-height: 1pt; margin-top: 0pt; margin-bottom: 0; margin-right: 0pt; ">&#8203;</P>
                            </TD>
                            <TD style="background-color: #cceeff; border-top: 0pt; padding-top: 1pt; border-right: 0pt; border-left: 0pt; padding-left: 0pt; vertical-align: bottom; padding-bottom: 1pt; border-bottom: 0pt; padding-right: 0pt; ">
                                <P style="margin-left: 11.25pt; color: #000000; text-indent: -11.25pt; font-size: 9pt; font-family: Arial, sans-serif; line-height: normal; margin-top: 0; margin-bottom: 0; text-align: left; margin-right: 0pt; "><FONT>Banco Santander SA:</FONT></P>
                            </TD>
                            <TD style="background-color: #cceeff; border-top: 0pt; padding-top: 0pt; border-right: 0pt; border-left: 0pt; padding-left: 0pt; vertical-align: bottom; padding-bottom: 0pt; border-bottom: 0pt; padding-right: 0pt; ">
                                <P style="margin-left: 0pt; font-size: 1pt; line-height: 1pt; margin-top: 0pt; margin-bottom: 0; margin-right: 0pt; ">&#8203;</P>
                            </TD>
                            <TD style="background-color: #cceeff; border-top: 0pt; padding-top: 0pt; border-right: 0pt; border-left: 0pt; padding-left: 0pt; vertical-align: bottom; padding-bottom: 0pt; border-bottom: 0pt; padding-right: 0pt; ">
                                <P style="margin-left: 0pt; font-size: 1pt; line-height: 1pt; margin-top: 0pt; margin-bottom: 0; margin-right: 0pt; ">&#8203;</P>
                            </TD>
                        </TR>
                        <TR style="min-height: 3pt; ">
                            <TD style="border-top: 0pt; padding-top: 1pt; border-right: 0pt; border-left: 0pt; padding-left: 0pt; vertical-align: top; padding-bottom: 1pt; border-bottom: 0pt; padding-right: 0pt; ">
                                <P style="margin-left: 0pt; color: #000000; font-size: 9pt; font-family: Arial, sans-serif; line-height: normal; margin-top: 0; margin-bottom: 0; text-align: right; margin-right: 0pt; "><FONT style="float: left; "><FONT>$</FONT></FONT><FONT style="float: right; "><FONT>5,600,000</FONT></FONT><FONT style="font-size: 9pt; ">&#8203;</FONT>                                    <BR clear="all"></P>
                            </TD>
                            <TD style="border-top: 0pt; padding-top: 0pt; border-right: 0pt; border-left: 0pt; padding-left: 0pt; vertical-align: bottom; padding-bottom: 0pt; border-bottom: 0pt; padding-right: 0pt; ">
                                <P style="margin-left: 0pt; font-size: 1pt; line-height: 1pt; margin-top: 0pt; margin-bottom: 0; margin-right: 0pt; ">&#8203;</P>
                            </TD>
                            <TD style="border-top: 0pt; padding-top: 1pt; border-right: 0pt; border-left: 0pt; padding-left: 0pt; vertical-align: bottom; padding-bottom: 1pt; border-bottom: 0pt; padding-right: 0pt; ">
                                <P style="margin-left: 22.5pt; color: #000000; text-indent: -11.25pt; font-size: 9pt; font-family: Arial, sans-serif; line-height: normal; margin-top: 0; margin-bottom: 0; text-align: left; margin-right: 0pt; "><FONT>4.75% to 05/12/27 then T5Y + 3.753%, 144A**** </FONT></P>
                            </TD>
                            <TD style="border-top: 0pt; padding-top: 1pt; border-right: 0pt; border-left: 0pt; padding-left: 0pt; vertical-align: bottom; padding-bottom: 1pt; border-bottom: 0pt; padding-right: 0pt; ">
                                <P style="margin-left: 0pt; color: #000000; font-size: 9pt; font-family: Arial, sans-serif; line-height: normal; margin-top: 0; margin-bottom: 0; text-align: right; margin-right: 0pt; "><A name="pfd-nportex_083125a1328"></A><FONT>&#160;5,485,725</FONT></P>
                            </TD>
                            <TD style="border-top: 0pt; padding-top: 1pt; border-right: 0pt; border-left: 0pt; padding-left: 0pt; vertical-align: bottom; padding-bottom: 1pt; border-bottom: 0pt; padding-right: 0pt; ">
                                <P style="margin-left: 0pt; color: #000000; text-indent: 0pt; font-size: 9pt; font-family: Arial, sans-serif; line-height: normal; margin-top: 0; margin-bottom: 0; text-align: left; margin-right: 0pt; "><FONT>**</FONT><SUP style="font-size: 7.0pt; line-height: 7.0pt; ">(1)(2)(3)(5)</SUP><FONT>&#160;</FONT></P>
                            </TD>
                        </TR>
                        <TR style="min-height: 3pt; ">
                            <TD style="background-color: #cceeff; border-top: 0pt; padding-top: 1pt; border-right: 0pt; border-left: 0pt; padding-left: 0pt; vertical-align: top; padding-bottom: 1pt; border-bottom: 0pt; padding-right: 0pt; ">
                                <P style="margin-left: 0pt; color: #000000; font-size: 9pt; font-family: Arial, sans-serif; line-height: normal; margin-top: 0; margin-bottom: 0; text-align: right; margin-right: 0pt; "><FONT style="float: left; "><FONT>$</FONT></FONT><FONT style="float: right; "><FONT>1,200,000</FONT></FONT><FONT style="font-size: 9pt; ">&#8203;</FONT>                                    <BR clear="all"></P>
                            </TD>
                            <TD style="background-color: #cceeff; border-top: 0pt; padding-top: 0pt; border-right: 0pt; border-left: 0pt; padding-left: 0pt; vertical-align: bottom; padding-bottom: 0pt; border-bottom: 0pt; padding-right: 0pt; ">
                                <P style="margin-left: 0pt; font-size: 1pt; line-height: 1pt; margin-top: 0pt; margin-bottom: 0; margin-right: 0pt; ">&#8203;</P>
                            </TD>
                            <TD style="background-color: #cceeff; border-top: 0pt; padding-top: 1pt; border-right: 0pt; border-left: 0pt; padding-left: 0pt; vertical-align: bottom; padding-bottom: 1pt; border-bottom: 0pt; padding-right: 0pt; ">
                                <P style="margin-left: 22.5pt; color: #000000; text-indent: -11.25pt; font-size: 9pt; font-family: Arial, sans-serif; line-height: normal; margin-top: 0; margin-bottom: 0; text-align: left; margin-right: 0pt; "><FONT>8.00% to 08/01/34 then T5Y + 3.911% </FONT></P>
                            </TD>
                            <TD style="background-color: #cceeff; border-top: 0pt; padding-top: 1pt; border-right: 0pt; border-left: 0pt; padding-left: 0pt; vertical-align: bottom; padding-bottom: 1pt; border-bottom: 0pt; padding-right: 0pt; ">
                                <P style="margin-left: 0pt; color: #000000; font-size: 9pt; font-family: Arial, sans-serif; line-height: normal; margin-top: 0; margin-bottom: 0; text-align: right; margin-right: 0pt; "><A name="pfd-nportex_083125a1329"></A><FONT>&#160;1,305,570</FONT></P>
                            </TD>
                            <TD style="background-color: #cceeff; border-top: 0pt; padding-top: 1pt; border-right: 0pt; border-left: 0pt; padding-left: 0pt; vertical-align: bottom; padding-bottom: 1pt; border-bottom: 0pt; padding-right: 0pt; ">
                                <P style="margin-left: 0pt; color: #000000; text-indent: 0pt; font-size: 9pt; font-family: Arial, sans-serif; line-height: normal; margin-top: 0; margin-bottom: 0; text-align: left; margin-right: 0pt; "><FONT>**</FONT><SUP style="font-size: 7.0pt; line-height: 7.0pt; ">(1)(2)(5)</SUP><FONT>&#160;</FONT></P>
                            </TD>
                        </TR>
                        <TR style="min-height: 3pt; ">
                            <TD style="border-top: 0pt; padding-top: 1pt; border-right: 0pt; border-left: 0pt; padding-left: 0pt; vertical-align: top; padding-bottom: 1pt; border-bottom: 0pt; padding-right: 0pt; ">
                                <P style="margin-left: 0pt; color: #000000; font-size: 9pt; font-family: Arial, sans-serif; line-height: normal; margin-top: 0; margin-bottom: 0; text-align: right; margin-right: 0pt; "><FONT style="float: left; "><FONT>$</FONT></FONT><FONT style="float: right; "><FONT>1,400,000</FONT></FONT><FONT style="font-size: 9pt; ">&#8203;</FONT>                                    <BR clear="all"></P>
                            </TD>
                            <TD style="border-top: 0pt; padding-top: 0pt; border-right: 0pt; border-left: 0pt; padding-left: 0pt; vertical-align: bottom; padding-bottom: 0pt; border-bottom: 0pt; padding-right: 0pt; ">
                                <P style="margin-left: 0pt; font-size: 1pt; line-height: 1pt; margin-top: 0pt; margin-bottom: 0; margin-right: 0pt; ">&#8203;</P>
                            </TD>
                            <TD style="border-top: 0pt; padding-top: 1pt; border-right: 0pt; border-left: 0pt; padding-left: 0pt; vertical-align: bottom; padding-bottom: 1pt; border-bottom: 0pt; padding-right: 0pt; ">
                                <P style="margin-left: 22.5pt; color: #000000; text-indent: -11.25pt; font-size: 9pt; font-family: Arial, sans-serif; line-height: normal; margin-top: 0; margin-bottom: 0; text-align: left; margin-right: 0pt; "><FONT>9.625% to 11/21/33 then T5Y + 5.298%, 144A**** </FONT></P>
                            </TD>
                            <TD style="border-top: 0pt; padding-top: 1pt; border-right: 0pt; border-left: 0pt; padding-left: 0pt; vertical-align: bottom; padding-bottom: 1pt; border-bottom: 0pt; padding-right: 0pt; ">
                                <P style="margin-left: 0pt; color: #000000; font-size: 9pt; font-family: Arial, sans-serif; line-height: normal; margin-top: 0; margin-bottom: 0; text-align: right; margin-right: 0pt; "><A name="pfd-nportex_083125a1330"></A><FONT>&#160;1,653,784</FONT></P>
                            </TD>
                            <TD style="border-top: 0pt; padding-top: 1pt; border-right: 0pt; border-left: 0pt; padding-left: 0pt; vertical-align: bottom; padding-bottom: 1pt; border-bottom: 0pt; padding-right: 0pt; ">
                                <P style="margin-left: 0pt; color: #000000; text-indent: 0pt; font-size: 9pt; font-family: Arial, sans-serif; line-height: normal; margin-top: 0; margin-bottom: 0; text-align: left; margin-right: 0pt; "><FONT>**</FONT><SUP style="font-size: 7.0pt; line-height: 7.0pt; ">(1)(2)(3)(5)</SUP><FONT>&#160;</FONT></P>
                            </TD>
                        </TR>
                        <TR style="min-height: 3pt; ">
                            <TD style="background-color: #cceeff; border-top: 0pt; padding-top: 1pt; border-right: 0pt; border-left: 0pt; padding-left: 0pt; vertical-align: top; padding-bottom: 1pt; border-bottom: 0pt; padding-right: 0pt; ">
                                <P style="margin-left: 0pt; color: #000000; font-size: 9pt; font-family: Arial, sans-serif; line-height: normal; margin-top: 0; margin-bottom: 0; text-align: right; margin-right: 0pt; "><FONT>&#160;</FONT></P>
                            </TD>
                            <TD style="background-color: #cceeff; border-top: 0pt; padding-top: 0pt; border-right: 0pt; border-left: 0pt; padding-left: 0pt; vertical-align: bottom; padding-bottom: 0pt; border-bottom: 0pt; padding-right: 0pt; ">
                                <P style="margin-left: 0pt; font-size: 1pt; line-height: 1pt; margin-top: 0pt; margin-bottom: 0; margin-right: 0pt; ">&#8203;</P>
                            </TD>
                            <TD style="background-color: #cceeff; border-top: 0pt; padding-top: 1pt; border-right: 0pt; border-left: 0pt; padding-left: 0pt; vertical-align: bottom; padding-bottom: 1pt; border-bottom: 0pt; padding-right: 0pt; ">
                                <P style="margin-left: 11.25pt; color: #000000; text-indent: -11.25pt; font-size: 9pt; font-family: Arial, sans-serif; line-height: normal; margin-top: 0; margin-bottom: 0; text-align: left; margin-right: 0pt; "><FONT>Bank of Montreal:</FONT></P>
                            </TD>
                            <TD style="background-color: #cceeff; border-top: 0pt; padding-top: 0pt; border-right: 0pt; border-left: 0pt; padding-left: 0pt; vertical-align: bottom; padding-bottom: 0pt; border-bottom: 0pt; padding-right: 0pt; ">
                                <P style="margin-left: 0pt; font-size: 1pt; line-height: 1pt; margin-top: 0pt; margin-bottom: 0; margin-right: 0pt; ">&#8203;</P>
                            </TD>
                            <TD style="background-color: #cceeff; border-top: 0pt; padding-top: 0pt; border-right: 0pt; border-left: 0pt; padding-left: 0pt; vertical-align: bottom; padding-bottom: 0pt; border-bottom: 0pt; padding-right: 0pt; ">
                                <P style="margin-left: 0pt; font-size: 1pt; line-height: 1pt; margin-top: 0pt; margin-bottom: 0; margin-right: 0pt; ">&#8203;</P>
                            </TD>
                        </TR>
                        <TR style="min-height: 3pt; ">
                            <TD style="border-top: 0pt; padding-top: 1pt; border-right: 0pt; border-left: 0pt; padding-left: 0pt; vertical-align: top; padding-bottom: 1pt; border-bottom: 0pt; padding-right: 0pt; ">
                                <P style="margin-left: 0pt; color: #000000; font-size: 9pt; font-family: Arial, sans-serif; line-height: normal; margin-top: 0; margin-bottom: 0; text-align: right; margin-right: 0pt; "><FONT style="float: left; "><FONT>$</FONT></FONT><FONT style="float: right; "><FONT>390,000</FONT></FONT><FONT style="font-size: 9pt; ">&#8203;</FONT>                                    <BR clear="all"></P>
                            </TD>
                            <TD style="border-top: 0pt; padding-top: 0pt; border-right: 0pt; border-left: 0pt; padding-left: 0pt; vertical-align: bottom; padding-bottom: 0pt; border-bottom: 0pt; padding-right: 0pt; ">
                                <P style="margin-left: 0pt; font-size: 1pt; line-height: 1pt; margin-top: 0pt; margin-bottom: 0; margin-right: 0pt; ">&#8203;</P>
                            </TD>
                            <TD style="border-top: 0pt; padding-top: 1pt; border-right: 0pt; border-left: 0pt; padding-left: 0pt; vertical-align: bottom; padding-bottom: 1pt; border-bottom: 0pt; padding-right: 0pt; ">
                                <P style="margin-left: 22.5pt; color: #000000; text-indent: -11.25pt; font-size: 9pt; font-family: Arial, sans-serif; line-height: normal; margin-top: 0; margin-bottom: 0; text-align: left; margin-right: 0pt; "><FONT>7.30% to 11/26/34 then T5Y + 3.01%, 11/26/84, Series 5 </FONT></P>
                            </TD>
                            <TD style="border-top: 0pt; padding-top: 1pt; border-right: 0pt; border-left: 0pt; padding-left: 0pt; vertical-align: bottom; padding-bottom: 1pt; border-bottom: 0pt; padding-right: 0pt; ">
                                <P style="margin-left: 0pt; color: #000000; font-size: 9pt; font-family: Arial, sans-serif; line-height: normal; margin-top: 0; margin-bottom: 0; text-align: right; margin-right: 0pt; "><A name="pfd-nportex_083125a1331"></A><FONT>&#160;409,639</FONT></P>
                            </TD>
                            <TD style="border-top: 0pt; padding-top: 1pt; border-right: 0pt; border-left: 0pt; padding-left: 0pt; vertical-align: bottom; padding-bottom: 1pt; border-bottom: 0pt; padding-right: 0pt; ">
                                <P style="margin-left: 0pt; color: #000000; text-indent: 0pt; font-size: 9pt; font-family: Arial, sans-serif; line-height: normal; margin-top: 0; margin-bottom: 0; text-align: left; margin-right: 0pt; "><FONT>**</FONT><SUP style="font-size: 7.0pt; line-height: 7.0pt; ">(5)</SUP><FONT>&#160;</FONT></P>
                            </TD>
                        </TR>
                        <TR style="min-height: 3pt; ">
                            <TD style="background-color: #cceeff; border-top: 0pt; padding-top: 1pt; border-right: 0pt; border-left: 0pt; padding-left: 0pt; vertical-align: top; padding-bottom: 1pt; border-bottom: 0pt; padding-right: 0pt; ">
                                <P style="margin-left: 0pt; color: #000000; font-size: 9pt; font-family: Arial, sans-serif; line-height: normal; margin-top: 0; margin-bottom: 0; text-align: right; margin-right: 0pt; "><FONT style="float: left; "><FONT>$</FONT></FONT><FONT style="float: right; "><FONT>755,000</FONT></FONT><FONT style="font-size: 9pt; ">&#8203;</FONT>                                    <BR clear="all"></P>
                            </TD>
                            <TD style="background-color: #cceeff; border-top: 0pt; padding-top: 0pt; border-right: 0pt; border-left: 0pt; padding-left: 0pt; vertical-align: bottom; padding-bottom: 0pt; border-bottom: 0pt; padding-right: 0pt; ">
                                <P style="margin-left: 0pt; font-size: 1pt; line-height: 1pt; margin-top: 0pt; margin-bottom: 0; margin-right: 0pt; ">&#8203;</P>
                            </TD>
                            <TD style="background-color: #cceeff; border-top: 0pt; padding-top: 1pt; border-right: 0pt; border-left: 0pt; padding-left: 0pt; vertical-align: bottom; padding-bottom: 1pt; border-bottom: 0pt; padding-right: 0pt; ">
                                <P style="margin-left: 22.5pt; color: #000000; text-indent: -11.25pt; font-size: 9pt; font-family: Arial, sans-serif; line-height: normal; margin-top: 0; margin-bottom: 0; text-align: left; margin-right: 0pt; "><FONT>7.70% to 05/26/29 then T5Y + 3.452%, 05/26/84, Series 4 </FONT></P>
                            </TD>
                            <TD style="background-color: #cceeff; border-top: 0pt; padding-top: 1pt; border-right: 0pt; border-left: 0pt; padding-left: 0pt; vertical-align: bottom; padding-bottom: 1pt; border-bottom: 0pt; padding-right: 0pt; ">
                                <P style="margin-left: 0pt; color: #000000; font-size: 9pt; font-family: Arial, sans-serif; line-height: normal; margin-top: 0; margin-bottom: 0; text-align: right; margin-right: 0pt; "><A name="pfd-nportex_083125a1332"></A><FONT>&#160;789,081</FONT></P>
                            </TD>
                            <TD style="background-color: #cceeff; border-top: 0pt; padding-top: 1pt; border-right: 0pt; border-left: 0pt; padding-left: 0pt; vertical-align: bottom; padding-bottom: 1pt; border-bottom: 0pt; padding-right: 0pt; ">
                                <P style="margin-left: 0pt; color: #000000; text-indent: 0pt; font-size: 9pt; font-family: Arial, sans-serif; line-height: normal; margin-top: 0; margin-bottom: 0; text-align: left; margin-right: 0pt; "><FONT>**</FONT><SUP style="font-size: 7.0pt; line-height: 7.0pt; ">(2)(5)</SUP><FONT>&#160;</FONT></P>
                            </TD>
                        </TR>
                        <TR style="min-height: 3pt; ">
                            <TD style="border-top: 0pt; padding-top: 1pt; border-right: 0pt; border-left: 0pt; padding-left: 0pt; vertical-align: top; padding-bottom: 1pt; border-bottom: 0pt; padding-right: 0pt; ">
                                <P style="margin-left: 0pt; color: #000000; font-size: 9pt; font-family: Arial, sans-serif; line-height: normal; margin-top: 0; margin-bottom: 0; text-align: right; margin-right: 0pt; "><FONT>&#160;</FONT></P>
                            </TD>
                            <TD style="border-top: 0pt; padding-top: 0pt; border-right: 0pt; border-left: 0pt; padding-left: 0pt; vertical-align: bottom; padding-bottom: 0pt; border-bottom: 0pt; padding-right: 0pt; ">
                                <P style="margin-left: 0pt; font-size: 1pt; line-height: 1pt; margin-top: 0pt; margin-bottom: 0; margin-right: 0pt; ">&#8203;</P>
                            </TD>
                            <TD style="border-top: 0pt; padding-top: 1pt; border-right: 0pt; border-left: 0pt; padding-left: 0pt; vertical-align: bottom; padding-bottom: 1pt; border-bottom: 0pt; padding-right: 0pt; ">
                                <P style="margin-left: 11.25pt; color: #000000; text-indent: -11.25pt; font-size: 9pt; font-family: Arial, sans-serif; line-height: normal; margin-top: 0; margin-bottom: 0; text-align: left; margin-right: 0pt; "><FONT>Bank of Nova Scotia:</FONT></P>
                            </TD>
                            <TD style="border-top: 0pt; padding-top: 0pt; border-right: 0pt; border-left: 0pt; padding-left: 0pt; vertical-align: bottom; padding-bottom: 0pt; border-bottom: 0pt; padding-right: 0pt; ">
                                <P style="margin-left: 0pt; font-size: 1pt; line-height: 1pt; margin-top: 0pt; margin-bottom: 0; margin-right: 0pt; ">&#8203;</P>
                            </TD>
                            <TD style="border-top: 0pt; padding-top: 0pt; border-right: 0pt; border-left: 0pt; padding-left: 0pt; vertical-align: bottom; padding-bottom: 0pt; border-bottom: 0pt; padding-right: 0pt; ">
                                <P style="margin-left: 0pt; font-size: 1pt; line-height: 1pt; margin-top: 0pt; margin-bottom: 0; margin-right: 0pt; ">&#8203;</P>
                            </TD>
                        </TR>
                        <TR style="min-height: 3pt; ">
                            <TD style="background-color: #cceeff; border-top: 0pt; padding-top: 1pt; border-right: 0pt; border-left: 0pt; padding-left: 0pt; vertical-align: top; padding-bottom: 1pt; border-bottom: 0pt; padding-right: 0pt; ">
                                <P style="margin-left: 0pt; color: #000000; font-size: 9pt; font-family: Arial, sans-serif; line-height: normal; margin-top: 0; margin-bottom: 0; text-align: right; margin-right: 0pt; "><FONT style="float: left; "><FONT>$</FONT></FONT><FONT style="float: right; "><FONT>602,000</FONT></FONT><FONT style="font-size: 9pt; ">&#8203;</FONT>                                    <BR clear="all"></P>
                            </TD>
                            <TD style="background-color: #cceeff; border-top: 0pt; padding-top: 0pt; border-right: 0pt; border-left: 0pt; padding-left: 0pt; vertical-align: bottom; padding-bottom: 0pt; border-bottom: 0pt; padding-right: 0pt; ">
                                <P style="margin-left: 0pt; font-size: 1pt; line-height: 1pt; margin-top: 0pt; margin-bottom: 0; margin-right: 0pt; ">&#8203;</P>
                            </TD>
                            <TD style="background-color: #cceeff; border-top: 0pt; padding-top: 1pt; border-right: 0pt; border-left: 0pt; padding-left: 0pt; vertical-align: bottom; padding-bottom: 1pt; border-bottom: 0pt; padding-right: 0pt; ">
                                <P style="margin-left: 22.5pt; color: #000000; text-indent: -11.25pt; font-size: 9pt; font-family: Arial, sans-serif; line-height: normal; margin-top: 0; margin-bottom: 0; text-align: left; margin-right: 0pt; "><FONT>7.35% to 04/27/30 then T5Y + 2.903%, 04/27/85, Series 6 </FONT></P>
                            </TD>
                            <TD style="background-color: #cceeff; border-top: 0pt; padding-top: 1pt; border-right: 0pt; border-left: 0pt; padding-left: 0pt; vertical-align: bottom; padding-bottom: 1pt; border-bottom: 0pt; padding-right: 0pt; ">
                                <P style="margin-left: 0pt; color: #000000; font-size: 9pt; font-family: Arial, sans-serif; line-height: normal; margin-top: 0; margin-bottom: 0; text-align: right; margin-right: 0pt; "><A name="pfd-nportex_083125a1333"></A><FONT>&#160;620,303</FONT></P>
                            </TD>
                            <TD style="background-color: #cceeff; border-top: 0pt; padding-top: 1pt; border-right: 0pt; border-left: 0pt; padding-left: 0pt; vertical-align: bottom; padding-bottom: 1pt; border-bottom: 0pt; padding-right: 0pt; ">
                                <P style="margin-left: 0pt; color: #000000; text-indent: 0pt; font-size: 9pt; font-family: Arial, sans-serif; line-height: normal; margin-top: 0; margin-bottom: 0; text-align: left; margin-right: 0pt; "><FONT>**</FONT><SUP style="font-size: 7.0pt; line-height: 7.0pt; ">(5)</SUP><FONT>&#160;</FONT></P>
                            </TD>
                        </TR>
                        <TR style="min-height: 3pt; ">
                            <TD style="border-top: 0pt; padding-top: 1pt; border-right: 0pt; border-left: 0pt; padding-left: 0pt; vertical-align: top; padding-bottom: 1pt; border-bottom: 0pt; padding-right: 0pt; ">
                                <P style="margin-left: 0pt; color: #000000; font-size: 9pt; font-family: Arial, sans-serif; line-height: normal; margin-top: 0; margin-bottom: 0; text-align: right; margin-right: 0pt; "><FONT style="float: left; "><FONT>$</FONT></FONT><FONT style="float: right; "><FONT>840,000</FONT></FONT><FONT style="font-size: 9pt; ">&#8203;</FONT>                                    <BR clear="all"></P>
                            </TD>
                            <TD style="border-top: 0pt; padding-top: 0pt; border-right: 0pt; border-left: 0pt; padding-left: 0pt; vertical-align: bottom; padding-bottom: 0pt; border-bottom: 0pt; padding-right: 0pt; ">
                                <P style="margin-left: 0pt; font-size: 1pt; line-height: 1pt; margin-top: 0pt; margin-bottom: 0; margin-right: 0pt; ">&#8203;</P>
                            </TD>
                            <TD style="border-top: 0pt; padding-top: 1pt; border-right: 0pt; border-left: 0pt; padding-left: 0pt; vertical-align: bottom; padding-bottom: 1pt; border-bottom: 0pt; padding-right: 0pt; ">
                                <P style="margin-left: 22.5pt; color: #000000; text-indent: -11.25pt; font-size: 9pt; font-family: Arial, sans-serif; line-height: normal; margin-top: 0; margin-bottom: 0; text-align: left; margin-right: 0pt; "><FONT>8.00% to 01/27/29 then T5Y + 4.017%, 01/27/84, Series 5 </FONT></P>
                            </TD>
                            <TD style="border-top: 0pt; padding-top: 1pt; border-right: 0pt; border-left: 0pt; padding-left: 0pt; vertical-align: bottom; padding-bottom: 1pt; border-bottom: 0pt; padding-right: 0pt; ">
                                <P style="margin-left: 0pt; color: #000000; font-size: 9pt; font-family: Arial, sans-serif; line-height: normal; margin-top: 0; margin-bottom: 0; text-align: right; margin-right: 0pt; "><A name="pfd-nportex_083125a1334"></A><FONT>&#160;897,170</FONT></P>
                            </TD>
                            <TD style="border-top: 0pt; padding-top: 1pt; border-right: 0pt; border-left: 0pt; padding-left: 0pt; vertical-align: bottom; padding-bottom: 1pt; border-bottom: 0pt; padding-right: 0pt; ">
                                <P style="margin-left: 0pt; color: #000000; text-indent: 0pt; font-size: 9pt; font-family: Arial, sans-serif; line-height: normal; margin-top: 0; margin-bottom: 0; text-align: left; margin-right: 0pt; "><FONT>**</FONT><SUP style="font-size: 7.0pt; line-height: 7.0pt; ">(2)(3)(5)</SUP><FONT>&#160;</FONT></P>
                            </TD>
                        </TR>
                        <TR style="min-height: 3pt; ">
                            <TD style="background-color: #cceeff; border-top: 0pt; padding-top: 1pt; border-right: 0pt; border-left: 0pt; padding-left: 0pt; vertical-align: top; padding-bottom: 1pt; border-bottom: 0pt; padding-right: 0pt; ">
                                <P style="margin-left: 0pt; color: #000000; font-size: 9pt; font-family: Arial, sans-serif; line-height: normal; margin-top: 0; margin-bottom: 0; text-align: right; margin-right: 0pt; "><FONT>&#160;</FONT></P>
                            </TD>
                            <TD style="background-color: #cceeff; border-top: 0pt; padding-top: 0pt; border-right: 0pt; border-left: 0pt; padding-left: 0pt; vertical-align: bottom; padding-bottom: 0pt; border-bottom: 0pt; padding-right: 0pt; ">
                                <P style="margin-left: 0pt; font-size: 1pt; line-height: 1pt; margin-top: 0pt; margin-bottom: 0; margin-right: 0pt; ">&#8203;</P>
                            </TD>
                            <TD style="background-color: #cceeff; border-top: 0pt; padding-top: 1pt; border-right: 0pt; border-left: 0pt; padding-left: 0pt; vertical-align: bottom; padding-bottom: 1pt; border-bottom: 0pt; padding-right: 0pt; ">
                                <P style="margin-left: 11.25pt; color: #000000; text-indent: -11.25pt; font-size: 9pt; font-family: Arial, sans-serif; line-height: normal; margin-top: 0; margin-bottom: 0; text-align: left; margin-right: 0pt; "><FONT>Barclays Bank PLC:</FONT></P>
                            </TD>
                            <TD style="background-color: #cceeff; border-top: 0pt; padding-top: 0pt; border-right: 0pt; border-left: 0pt; padding-left: 0pt; vertical-align: bottom; padding-bottom: 0pt; border-bottom: 0pt; padding-right: 0pt; ">
                                <P style="margin-left: 0pt; font-size: 1pt; line-height: 1pt; margin-top: 0pt; margin-bottom: 0; margin-right: 0pt; ">&#8203;</P>
                            </TD>
                            <TD style="background-color: #cceeff; border-top: 0pt; padding-top: 0pt; border-right: 0pt; border-left: 0pt; padding-left: 0pt; vertical-align: bottom; padding-bottom: 0pt; border-bottom: 0pt; padding-right: 0pt; ">
                                <P style="margin-left: 0pt; font-size: 1pt; line-height: 1pt; margin-top: 0pt; margin-bottom: 0; margin-right: 0pt; ">&#8203;</P>
                            </TD>
                        </TR>
                        <TR style="min-height: 3pt; ">
                            <TD style="border-top: 0pt; padding-top: 1pt; border-right: 0pt; border-left: 0pt; padding-left: 0pt; vertical-align: top; padding-bottom: 1pt; border-bottom: 0pt; padding-right: 0pt; ">
                                <P style="margin-left: 0pt; color: #000000; font-size: 9pt; font-family: Arial, sans-serif; line-height: normal; margin-top: 0; margin-bottom: 0; text-align: right; margin-right: 0pt; "><FONT style="float: left; "><FONT>$</FONT></FONT><FONT style="float: right; "><FONT>350,000</FONT></FONT><FONT style="font-size: 9pt; ">&#8203;</FONT>                                    <BR clear="all"></P>
                            </TD>
                            <TD style="border-top: 0pt; padding-top: 0pt; border-right: 0pt; border-left: 0pt; padding-left: 0pt; vertical-align: bottom; padding-bottom: 0pt; border-bottom: 0pt; padding-right: 0pt; ">
                                <P style="margin-left: 0pt; font-size: 1pt; line-height: 1pt; margin-top: 0pt; margin-bottom: 0; margin-right: 0pt; ">&#8203;</P>
                            </TD>
                            <TD style="border-top: 0pt; padding-top: 1pt; border-right: 0pt; border-left: 0pt; padding-left: 0pt; vertical-align: bottom; padding-bottom: 1pt; border-bottom: 0pt; padding-right: 0pt; ">
                                <P style="margin-left: 22.5pt; color: #000000; text-indent: -11.25pt; font-size: 9pt; font-family: Arial, sans-serif; line-height: normal; margin-top: 0; margin-bottom: 0; text-align: left; margin-right: 0pt; "><FONT>4.375% to 09/15/28 then T5Y + 3.41% </FONT></P>
                            </TD>
                            <TD style="border-top: 0pt; padding-top: 1pt; border-right: 0pt; border-left: 0pt; padding-left: 0pt; vertical-align: bottom; padding-bottom: 1pt; border-bottom: 0pt; padding-right: 0pt; ">
                                <P style="margin-left: 0pt; color: #000000; font-size: 9pt; font-family: Arial, sans-serif; line-height: normal; margin-top: 0; margin-bottom: 0; text-align: right; margin-right: 0pt; "><A name="pfd-nportex_083125a1335"></A><FONT>&#160;330,882</FONT></P>
                            </TD>
                            <TD style="border-top: 0pt; padding-top: 1pt; border-right: 0pt; border-left: 0pt; padding-left: 0pt; vertical-align: bottom; padding-bottom: 1pt; border-bottom: 0pt; padding-right: 0pt; ">
                                <P style="margin-left: 0pt; color: #000000; text-indent: 0pt; font-size: 9pt; font-family: Arial, sans-serif; line-height: normal; margin-top: 0; margin-bottom: 0; text-align: left; margin-right: 0pt; "><FONT>**</FONT><SUP style="font-size: 7.0pt; line-height: 7.0pt; ">(1)(5)</SUP><FONT>&#160;</FONT></P>
                            </TD>
                        </TR>
                        <TR style="min-height: 3pt; ">
                            <TD style="background-color: #cceeff; border-top: 0pt; padding-top: 1pt; border-right: 0pt; border-left: 0pt; padding-left: 0pt; vertical-align: top; padding-bottom: 1pt; border-bottom: 0pt; padding-right: 0pt; ">
                                <P style="margin-left: 0pt; color: #000000; font-size: 9pt; font-family: Arial, sans-serif; line-height: normal; margin-top: 0; margin-bottom: 0; text-align: right; margin-right: 0pt; "><FONT style="float: left; "><FONT>$</FONT></FONT><FONT style="float: right; "><FONT>620,000</FONT></FONT><FONT style="font-size: 9pt; ">&#8203;</FONT>                                    <BR clear="all"></P>
                            </TD>
                            <TD style="background-color: #cceeff; border-top: 0pt; padding-top: 0pt; border-right: 0pt; border-left: 0pt; padding-left: 0pt; vertical-align: bottom; padding-bottom: 0pt; border-bottom: 0pt; padding-right: 0pt; ">
                                <P style="margin-left: 0pt; font-size: 1pt; line-height: 1pt; margin-top: 0pt; margin-bottom: 0; margin-right: 0pt; ">&#8203;</P>
                            </TD>
                            <TD style="background-color: #cceeff; border-top: 0pt; padding-top: 1pt; border-right: 0pt; border-left: 0pt; padding-left: 0pt; vertical-align: bottom; padding-bottom: 1pt; border-bottom: 0pt; padding-right: 0pt; ">
                                <P style="margin-left: 22.5pt; color: #000000; text-indent: -11.25pt; font-size: 9pt; font-family: Arial, sans-serif; line-height: normal; margin-top: 0; margin-bottom: 0; text-align: left; margin-right: 0pt; "><FONT>7.625% to 09/15/35 then SOFR5Y + 3.686% </FONT></P>
                            </TD>
                            <TD style="background-color: #cceeff; border-top: 0pt; padding-top: 1pt; border-right: 0pt; border-left: 0pt; padding-left: 0pt; vertical-align: bottom; padding-bottom: 1pt; border-bottom: 0pt; padding-right: 0pt; ">
                                <P style="margin-left: 0pt; color: #000000; font-size: 9pt; font-family: Arial, sans-serif; line-height: normal; margin-top: 0; margin-bottom: 0; text-align: right; margin-right: 0pt; "><A name="pfd-nportex_083125a1336"></A><FONT>&#160;641,974</FONT></P>
                            </TD>
                            <TD style="background-color: #cceeff; border-top: 0pt; padding-top: 1pt; border-right: 0pt; border-left: 0pt; padding-left: 0pt; vertical-align: bottom; padding-bottom: 1pt; border-bottom: 0pt; padding-right: 0pt; ">
                                <P style="margin-left: 0pt; color: #000000; text-indent: 0pt; font-size: 9pt; font-family: Arial, sans-serif; line-height: normal; margin-top: 0; margin-bottom: 0; text-align: left; margin-right: 0pt; "><FONT>**</FONT><SUP style="font-size: 7.0pt; line-height: 7.0pt; ">(1)(5)</SUP><FONT>&#160;</FONT></P>
                            </TD>
                        </TR>
                        <TR style="min-height: 3pt; ">
                            <TD style="border-top: 0pt; padding-top: 1pt; border-right: 0pt; border-left: 0pt; padding-left: 0pt; vertical-align: top; padding-bottom: 1pt; border-bottom: 0pt; padding-right: 0pt; ">
                                <P style="margin-left: 0pt; color: #000000; font-size: 9pt; font-family: Arial, sans-serif; line-height: normal; margin-top: 0; margin-bottom: 0; text-align: right; margin-right: 0pt; "><FONT style="float: left; "><FONT>$</FONT></FONT><FONT style="float: right; "><FONT>385,000</FONT></FONT><FONT style="font-size: 9pt; ">&#8203;</FONT>                                    <BR clear="all"></P>
                            </TD>
                            <TD style="border-top: 0pt; padding-top: 0pt; border-right: 0pt; border-left: 0pt; padding-left: 0pt; vertical-align: bottom; padding-bottom: 0pt; border-bottom: 0pt; padding-right: 0pt; ">
                                <P style="margin-left: 0pt; font-size: 1pt; line-height: 1pt; margin-top: 0pt; margin-bottom: 0; margin-right: 0pt; ">&#8203;</P>
                            </TD>
                            <TD style="border-top: 0pt; padding-top: 1pt; border-right: 0pt; border-left: 0pt; padding-left: 0pt; vertical-align: bottom; padding-bottom: 1pt; border-bottom: 0pt; padding-right: 0pt; ">
                                <P style="margin-left: 22.5pt; color: #000000; text-indent: -11.25pt; font-size: 9pt; font-family: Arial, sans-serif; line-height: normal; margin-top: 0; margin-bottom: 0; text-align: left; margin-right: 0pt; "><FONT>8.00% to 09/15/29 then T5Y + 5.431% </FONT></P>
                            </TD>
                            <TD style="border-top: 0pt; padding-top: 1pt; border-right: 0pt; border-left: 0pt; padding-left: 0pt; vertical-align: bottom; padding-bottom: 1pt; border-bottom: 0pt; padding-right: 0pt; ">
                                <P style="margin-left: 0pt; color: #000000; font-size: 9pt; font-family: Arial, sans-serif; line-height: normal; margin-top: 0; margin-bottom: 0; text-align: right; margin-right: 0pt; "><A name="pfd-nportex_083125a1337"></A><FONT>&#160;406,021</FONT></P>
                            </TD>
                            <TD style="border-top: 0pt; padding-top: 1pt; border-right: 0pt; border-left: 0pt; padding-left: 0pt; vertical-align: bottom; padding-bottom: 1pt; border-bottom: 0pt; padding-right: 0pt; ">
                                <P style="margin-left: 0pt; color: #000000; text-indent: 0pt; font-size: 9pt; font-family: Arial, sans-serif; line-height: normal; margin-top: 0; margin-bottom: 0; text-align: left; margin-right: 0pt; "><FONT>**</FONT><SUP style="font-size: 7.0pt; line-height: 7.0pt; ">(1)(5)</SUP><FONT>&#160;</FONT></P>
                            </TD>
                        </TR>
                        <TR style="min-height: 3pt; ">
                            <TD style="background-color: #cceeff; border-top: 0pt; padding-top: 1pt; border-right: 0pt; border-left: 0pt; padding-left: 0pt; vertical-align: top; padding-bottom: 1pt; border-bottom: 0pt; padding-right: 0pt; ">
                                <P style="margin-left: 0pt; color: #000000; font-size: 9pt; font-family: Arial, sans-serif; line-height: normal; margin-top: 0; margin-bottom: 0; text-align: right; margin-right: 0pt; "><FONT style="float: left; "><FONT>$</FONT></FONT><FONT style="float: right; "><FONT>630,000</FONT></FONT><FONT style="font-size: 9pt; ">&#8203;</FONT>                                    <BR clear="all"></P>
                            </TD>
                            <TD style="background-color: #cceeff; border-top: 0pt; padding-top: 0pt; border-right: 0pt; border-left: 0pt; padding-left: 0pt; vertical-align: bottom; padding-bottom: 0pt; border-bottom: 0pt; padding-right: 0pt; ">
                                <P style="margin-left: 0pt; font-size: 1pt; line-height: 1pt; margin-top: 0pt; margin-bottom: 0; margin-right: 0pt; ">&#8203;</P>
                            </TD>
                            <TD style="background-color: #cceeff; border-top: 0pt; padding-top: 1pt; border-right: 0pt; border-left: 0pt; padding-left: 0pt; vertical-align: bottom; padding-bottom: 1pt; border-bottom: 0pt; padding-right: 0pt; ">
                                <P style="margin-left: 22.5pt; color: #000000; text-indent: -11.25pt; font-size: 9pt; font-family: Arial, sans-serif; line-height: normal; margin-top: 0; margin-bottom: 0; text-align: left; margin-right: 0pt; "><FONT>9.625% to 06/15/30 then SOFR5Y + 5.775% </FONT></P>
                            </TD>
                            <TD style="background-color: #cceeff; border-top: 0pt; padding-top: 1pt; border-right: 0pt; border-left: 0pt; padding-left: 0pt; vertical-align: bottom; padding-bottom: 1pt; border-bottom: 0pt; padding-right: 0pt; ">
                                <P style="margin-left: 0pt; color: #000000; font-size: 9pt; font-family: Arial, sans-serif; line-height: normal; margin-top: 0; margin-bottom: 0; text-align: right; margin-right: 0pt; "><A name="pfd-nportex_083125a1338"></A><FONT>&#160;708,085</FONT></P>
                            </TD>
                            <TD style="background-color: #cceeff; border-top: 0pt; padding-top: 1pt; border-right: 0pt; border-left: 0pt; padding-left: 0pt; vertical-align: bottom; padding-bottom: 1pt; border-bottom: 0pt; padding-right: 0pt; ">
                                <P style="margin-left: 0pt; color: #000000; text-indent: 0pt; font-size: 9pt; font-family: Arial, sans-serif; line-height: normal; margin-top: 0; margin-bottom: 0; text-align: left; margin-right: 0pt; "><FONT>**</FONT><SUP style="font-size: 7.0pt; line-height: 7.0pt; ">(1)(5)</SUP><FONT>&#160;</FONT></P>
                            </TD>
                        </TR>
                        <TR style="min-height: 3pt; ">
                            <TD style="border-top: 0pt; padding-top: 1pt; border-right: 0pt; border-left: 0pt; padding-left: 0pt; vertical-align: top; padding-bottom: 1pt; border-bottom: 0pt; padding-right: 0pt; ">
                                <P style="margin-left: 0pt; color: #000000; font-size: 9pt; font-family: Arial, sans-serif; line-height: normal; margin-top: 0; margin-bottom: 0; text-align: right; margin-right: 0pt; "><FONT style="float: left; "><FONT>$</FONT></FONT><FONT style="float: right; "><FONT>500,000</FONT></FONT><FONT style="font-size: 9pt; ">&#8203;</FONT>                                    <BR clear="all"></P>
                            </TD>
                            <TD style="border-top: 0pt; padding-top: 0pt; border-right: 0pt; border-left: 0pt; padding-left: 0pt; vertical-align: bottom; padding-bottom: 0pt; border-bottom: 0pt; padding-right: 0pt; ">
                                <P style="margin-left: 0pt; font-size: 1pt; line-height: 1pt; margin-top: 0pt; margin-bottom: 0; margin-right: 0pt; ">&#8203;</P>
                            </TD>
                            <TD style="border-top: 0pt; padding-top: 1pt; border-right: 0pt; border-left: 0pt; padding-left: 0pt; vertical-align: bottom; padding-bottom: 1pt; border-bottom: 0pt; padding-right: 0pt; ">
                                <P style="margin-left: 11.25pt; color: #000000; text-indent: -11.25pt; font-size: 9pt; font-family: Arial, sans-serif; line-height: normal; margin-top: 0; margin-bottom: 0; text-align: left; margin-right: 0pt; "><FONT>BBVA Bancomer SA, 5.875% to 09/13/29 then T5Y + 4.308%, 09/13/34, 144A**** </FONT></P>
                            </TD>
                            <TD style="border-top: 0pt; padding-top: 1pt; border-right: 0pt; border-left: 0pt; padding-left: 0pt; vertical-align: bottom; padding-bottom: 1pt; border-bottom: 0pt; padding-right: 0pt; ">
                                <P style="margin-left: 0pt; color: #000000; font-size: 9pt; font-family: Arial, sans-serif; line-height: normal; margin-top: 0; margin-bottom: 0; text-align: right; margin-right: 0pt; "><A name="pfd-nportex_083125a1339"></A><FONT>&#160;498,428</FONT></P>
                            </TD>
                            <TD style="border-top: 0pt; padding-top: 1pt; border-right: 0pt; border-left: 0pt; padding-left: 0pt; vertical-align: bottom; padding-bottom: 1pt; border-bottom: 0pt; padding-right: 0pt; ">
                                <P style="margin-left: 0pt; color: #000000; text-indent: 0pt; font-size: 9pt; font-family: Arial, sans-serif; line-height: normal; margin-top: 0; margin-bottom: 0; text-align: left; margin-right: 0pt; "><SUP style="font-size: 7.0pt; line-height: 7.0pt; ">(2)(3)(5)</SUP><FONT>&#160;</FONT></P>
                            </TD>
                        </TR>
                        <TR style="min-height: 3pt; ">
                            <TD style="background-color: #cceeff; border-top: 0pt; padding-top: 1pt; border-right: 0pt; border-left: 0pt; padding-left: 0pt; vertical-align: top; padding-bottom: 1pt; border-bottom: 0pt; padding-right: 0pt; ">
                                <P style="margin-left: 0pt; color: #000000; font-size: 9pt; font-family: Arial, sans-serif; line-height: normal; margin-top: 0; margin-bottom: 0; text-align: right; margin-right: 0pt; "><FONT>&#160;</FONT></P>
                            </TD>
                            <TD style="background-color: #cceeff; border-top: 0pt; padding-top: 0pt; border-right: 0pt; border-left: 0pt; padding-left: 0pt; vertical-align: bottom; padding-bottom: 0pt; border-bottom: 0pt; padding-right: 0pt; ">
                                <P style="margin-left: 0pt; font-size: 1pt; line-height: 1pt; margin-top: 0pt; margin-bottom: 0; margin-right: 0pt; ">&#8203;</P>
                            </TD>
                            <TD style="background-color: #cceeff; border-top: 0pt; padding-top: 1pt; border-right: 0pt; border-left: 0pt; padding-left: 0pt; vertical-align: bottom; padding-bottom: 1pt; border-bottom: 0pt; padding-right: 0pt; ">
                                <P style="margin-left: 11.25pt; color: #000000; text-indent: -11.25pt; font-size: 9pt; font-family: Arial, sans-serif; line-height: normal; margin-top: 0; margin-bottom: 0; text-align: left; margin-right: 0pt; "><FONT>BNP Paribas:</FONT></P>
                            </TD>
                            <TD style="background-color: #cceeff; border-top: 0pt; padding-top: 0pt; border-right: 0pt; border-left: 0pt; padding-left: 0pt; vertical-align: bottom; padding-bottom: 0pt; border-bottom: 0pt; padding-right: 0pt; ">
                                <P style="margin-left: 0pt; font-size: 1pt; line-height: 1pt; margin-top: 0pt; margin-bottom: 0; margin-right: 0pt; ">&#8203;</P>
                            </TD>
                            <TD style="background-color: #cceeff; border-top: 0pt; padding-top: 0pt; border-right: 0pt; border-left: 0pt; padding-left: 0pt; vertical-align: bottom; padding-bottom: 0pt; border-bottom: 0pt; padding-right: 0pt; ">
                                <P style="margin-left: 0pt; font-size: 1pt; line-height: 1pt; margin-top: 0pt; margin-bottom: 0; margin-right: 0pt; ">&#8203;</P>
                            </TD>
                        </TR>
                        <TR style="min-height: 3pt; ">
                            <TD style="border-top: 0pt; padding-top: 1pt; border-right: 0pt; border-left: 0pt; padding-left: 0pt; vertical-align: top; padding-bottom: 1pt; border-bottom: 0pt; padding-right: 0pt; ">
                                <P style="margin-left: 0pt; color: #000000; font-size: 9pt; font-family: Arial, sans-serif; line-height: normal; margin-top: 0; margin-bottom: 0; text-align: right; margin-right: 0pt; "><FONT style="float: left; "><FONT>$</FONT></FONT><FONT style="float: right; "><FONT>350,000</FONT></FONT><FONT style="font-size: 9pt; ">&#8203;</FONT>                                    <BR clear="all"></P>
                            </TD>
                            <TD style="border-top: 0pt; padding-top: 0pt; border-right: 0pt; border-left: 0pt; padding-left: 0pt; vertical-align: bottom; padding-bottom: 0pt; border-bottom: 0pt; padding-right: 0pt; ">
                                <P style="margin-left: 0pt; font-size: 1pt; line-height: 1pt; margin-top: 0pt; margin-bottom: 0; margin-right: 0pt; ">&#8203;</P>
                            </TD>
                            <TD style="border-top: 0pt; padding-top: 1pt; border-right: 0pt; border-left: 0pt; padding-left: 0pt; vertical-align: bottom; padding-bottom: 1pt; border-bottom: 0pt; padding-right: 0pt; ">
                                <P style="margin-left: 22.5pt; color: #000000; text-indent: -11.25pt; font-size: 9pt; font-family: Arial, sans-serif; line-height: normal; margin-top: 0; margin-bottom: 0; text-align: left; margin-right: 0pt; "><FONT>4.625% to 02/25/31 then T5Y + 3.34%, 144A**** </FONT></P>
                            </TD>
                            <TD style="border-top: 0pt; padding-top: 1pt; border-right: 0pt; border-left: 0pt; padding-left: 0pt; vertical-align: bottom; padding-bottom: 1pt; border-bottom: 0pt; padding-right: 0pt; ">
                                <P style="margin-left: 0pt; color: #000000; font-size: 9pt; font-family: Arial, sans-serif; line-height: normal; margin-top: 0; margin-bottom: 0; text-align: right; margin-right: 0pt; "><A name="pfd-nportex_083125a1340"></A><FONT>&#160;313,475</FONT></P>
                            </TD>
                            <TD style="border-top: 0pt; padding-top: 1pt; border-right: 0pt; border-left: 0pt; padding-left: 0pt; vertical-align: bottom; padding-bottom: 1pt; border-bottom: 0pt; padding-right: 0pt; ">
                                <P style="margin-left: 0pt; color: #000000; text-indent: 0pt; font-size: 9pt; font-family: Arial, sans-serif; line-height: normal; margin-top: 0; margin-bottom: 0; text-align: left; margin-right: 0pt; "><FONT>**</FONT><SUP style="font-size: 7.0pt; line-height: 7.0pt; ">(1)(5)</SUP><FONT>&#160;</FONT></P>
                            </TD>
                        </TR>
                        <TR style="min-height: 3pt; ">
                            <TD style="background-color: #cceeff; border-top: 0pt; padding-top: 1pt; border-right: 0pt; border-left: 0pt; padding-left: 0pt; vertical-align: top; padding-bottom: 1pt; border-bottom: 0pt; padding-right: 0pt; ">
                                <P style="margin-left: 0pt; color: #000000; font-size: 9pt; font-family: Arial, sans-serif; line-height: normal; margin-top: 0; margin-bottom: 0; text-align: right; margin-right: 0pt; "><FONT style="float: left; "><FONT>$</FONT></FONT><FONT style="float: right; "><FONT>785,000</FONT></FONT><FONT style="font-size: 9pt; ">&#8203;</FONT>                                    <BR clear="all"></P>
                            </TD>
                            <TD style="background-color: #cceeff; border-top: 0pt; padding-top: 0pt; border-right: 0pt; border-left: 0pt; padding-left: 0pt; vertical-align: bottom; padding-bottom: 0pt; border-bottom: 0pt; padding-right: 0pt; ">
                                <P style="margin-left: 0pt; font-size: 1pt; line-height: 1pt; margin-top: 0pt; margin-bottom: 0; margin-right: 0pt; ">&#8203;</P>
                            </TD>
                            <TD style="background-color: #cceeff; border-top: 0pt; padding-top: 1pt; border-right: 0pt; border-left: 0pt; padding-left: 0pt; vertical-align: bottom; padding-bottom: 1pt; border-bottom: 0pt; padding-right: 0pt; ">
                                <P style="margin-left: 22.5pt; color: #000000; text-indent: -11.25pt; font-size: 9pt; font-family: Arial, sans-serif; line-height: normal; margin-top: 0; margin-bottom: 0; text-align: left; margin-right: 0pt; "><FONT>7.375% to 09/10/34 then T5Y + 3.535%, 144A**** </FONT></P>
                            </TD>
                            <TD style="background-color: #cceeff; border-top: 0pt; padding-top: 1pt; border-right: 0pt; border-left: 0pt; padding-left: 0pt; vertical-align: bottom; padding-bottom: 1pt; border-bottom: 0pt; padding-right: 0pt; ">
                                <P style="margin-left: 0pt; color: #000000; font-size: 9pt; font-family: Arial, sans-serif; line-height: normal; margin-top: 0; margin-bottom: 0; text-align: right; margin-right: 0pt; "><A name="pfd-nportex_083125a1341"></A><FONT>&#160;808,909</FONT></P>
                            </TD>
                            <TD style="background-color: #cceeff; border-top: 0pt; padding-top: 1pt; border-right: 0pt; border-left: 0pt; padding-left: 0pt; vertical-align: bottom; padding-bottom: 1pt; border-bottom: 0pt; padding-right: 0pt; ">
                                <P style="margin-left: 0pt; color: #000000; text-indent: 0pt; font-size: 9pt; font-family: Arial, sans-serif; line-height: normal; margin-top: 0; margin-bottom: 0; text-align: left; margin-right: 0pt; "><FONT>**</FONT><SUP style="font-size: 7.0pt; line-height: 7.0pt; ">(1)(2)(5)</SUP><FONT>&#160;</FONT></P>
                            </TD>
                        </TR>
                        <TR style="min-height: 3pt; ">
                            <TD style="border-top: 0pt; padding-top: 1pt; border-right: 0pt; border-left: 0pt; padding-left: 0pt; vertical-align: top; padding-bottom: 1pt; border-bottom: 0pt; padding-right: 0pt; ">
                                <P style="margin-left: 0pt; color: #000000; font-size: 9pt; font-family: Arial, sans-serif; line-height: normal; margin-top: 0; margin-bottom: 0; text-align: right; margin-right: 0pt; "><FONT style="float: left; "><FONT>$</FONT></FONT><FONT style="float: right; "><FONT>3,400,000</FONT></FONT><FONT style="font-size: 9pt; ">&#8203;</FONT>                                    <BR clear="all"></P>
                            </TD>
                            <TD style="border-top: 0pt; padding-top: 0pt; border-right: 0pt; border-left: 0pt; padding-left: 0pt; vertical-align: bottom; padding-bottom: 0pt; border-bottom: 0pt; padding-right: 0pt; ">
                                <P style="margin-left: 0pt; font-size: 1pt; line-height: 1pt; margin-top: 0pt; margin-bottom: 0; margin-right: 0pt; ">&#8203;</P>
                            </TD>
                            <TD style="border-top: 0pt; padding-top: 1pt; border-right: 0pt; border-left: 0pt; padding-left: 0pt; vertical-align: bottom; padding-bottom: 1pt; border-bottom: 0pt; padding-right: 0pt; ">
                                <P style="margin-left: 22.5pt; color: #000000; text-indent: -11.25pt; font-size: 9pt; font-family: Arial, sans-serif; line-height: normal; margin-top: 0; margin-bottom: 0; text-align: left; margin-right: 0pt; "><FONT>7.45% to 06/27/35 then T5Y + 3.134%, 144A****, Series 1 </FONT></P>
                            </TD>
                            <TD style="border-top: 0pt; padding-top: 1pt; border-right: 0pt; border-left: 0pt; padding-left: 0pt; vertical-align: bottom; padding-bottom: 1pt; border-bottom: 0pt; padding-right: 0pt; ">
                                <P style="margin-left: 0pt; color: #000000; font-size: 9pt; font-family: Arial, sans-serif; line-height: normal; margin-top: 0; margin-bottom: 0; text-align: right; margin-right: 0pt; "><A name="pfd-nportex_083125a1342"></A><FONT>&#160;3,478,410</FONT></P>
                            </TD>
                            <TD style="border-top: 0pt; padding-top: 1pt; border-right: 0pt; border-left: 0pt; padding-left: 0pt; vertical-align: bottom; padding-bottom: 1pt; border-bottom: 0pt; padding-right: 0pt; ">
                                <P style="margin-left: 0pt; color: #000000; text-indent: 0pt; font-size: 9pt; font-family: Arial, sans-serif; line-height: normal; margin-top: 0; margin-bottom: 0; text-align: left; margin-right: 0pt; "><FONT>**</FONT><SUP style="font-size: 7.0pt; line-height: 7.0pt; ">(1)(2)(5)</SUP><FONT>&#160;</FONT></P>
                            </TD>
                        </TR>
                        <TR style="min-height: 3pt; ">
                            <TD style="background-color: #cceeff; border-top: 0pt; padding-top: 1pt; border-right: 0pt; border-left: 0pt; padding-left: 0pt; vertical-align: top; padding-bottom: 1pt; border-bottom: 0pt; padding-right: 0pt; ">
                                <P style="margin-left: 0pt; color: #000000; font-size: 9pt; font-family: Arial, sans-serif; line-height: normal; margin-top: 0; margin-bottom: 0; text-align: right; margin-right: 0pt; "><FONT style="float: left; "><FONT>$</FONT></FONT><FONT style="float: right; "><FONT>770,000</FONT></FONT><FONT style="font-size: 9pt; ">&#8203;</FONT>                                    <BR clear="all"></P>
                            </TD>
                            <TD style="background-color: #cceeff; border-top: 0pt; padding-top: 0pt; border-right: 0pt; border-left: 0pt; padding-left: 0pt; vertical-align: bottom; padding-bottom: 0pt; border-bottom: 0pt; padding-right: 0pt; ">
                                <P style="margin-left: 0pt; font-size: 1pt; line-height: 1pt; margin-top: 0pt; margin-bottom: 0; margin-right: 0pt; ">&#8203;</P>
                            </TD>
                            <TD style="background-color: #cceeff; border-top: 0pt; padding-top: 1pt; border-right: 0pt; border-left: 0pt; padding-left: 0pt; vertical-align: bottom; padding-bottom: 1pt; border-bottom: 0pt; padding-right: 0pt; ">
                                <P style="margin-left: 22.5pt; color: #000000; text-indent: -11.25pt; font-size: 9pt; font-family: Arial, sans-serif; line-height: normal; margin-top: 0; margin-bottom: 0; text-align: left; margin-right: 0pt; "><FONT>7.75% to 08/16/29 then T5Y + 4.899%, 144A**** </FONT></P>
                            </TD>
                            <TD style="background-color: #cceeff; border-top: 0pt; padding-top: 1pt; border-right: 0pt; border-left: 0pt; padding-left: 0pt; vertical-align: bottom; padding-bottom: 1pt; border-bottom: 0pt; padding-right: 0pt; ">
                                <P style="margin-left: 0pt; color: #000000; font-size: 9pt; font-family: Arial, sans-serif; line-height: normal; margin-top: 0; margin-bottom: 0; text-align: right; margin-right: 0pt; "><A name="pfd-nportex_083125a1343"></A><FONT>&#160;810,600</FONT></P>
                            </TD>
                            <TD style="background-color: #cceeff; border-top: 0pt; padding-top: 1pt; border-right: 0pt; border-left: 0pt; padding-left: 0pt; vertical-align: bottom; padding-bottom: 1pt; border-bottom: 0pt; padding-right: 0pt; ">
                                <P style="margin-left: 0pt; color: #000000; text-indent: 0pt; font-size: 9pt; font-family: Arial, sans-serif; line-height: normal; margin-top: 0; margin-bottom: 0; text-align: left; margin-right: 0pt; "><FONT>**</FONT><SUP style="font-size: 7.0pt; line-height: 7.0pt; ">(1)(2)(5)</SUP><FONT>&#160;</FONT></P>
                            </TD>
                        </TR>
                        <TR style="min-height: 3pt; ">
                            <TD style="border-top: 0pt; padding-top: 1pt; border-right: 0pt; border-left: 0pt; padding-left: 0pt; vertical-align: top; padding-bottom: 1pt; border-bottom: 0pt; padding-right: 0pt; ">
                                <P style="margin-left: 0pt; color: #000000; font-size: 9pt; font-family: Arial, sans-serif; line-height: normal; margin-top: 0; margin-bottom: 0; text-align: right; margin-right: 0pt; "><FONT style="float: left; "><FONT>$</FONT></FONT><FONT style="float: right; "><FONT>500,000</FONT></FONT><FONT style="font-size: 9pt; ">&#8203;</FONT>                                    <BR clear="all"></P>
                            </TD>
                            <TD style="border-top: 0pt; padding-top: 0pt; border-right: 0pt; border-left: 0pt; padding-left: 0pt; vertical-align: bottom; padding-bottom: 0pt; border-bottom: 0pt; padding-right: 0pt; ">
                                <P style="margin-left: 0pt; font-size: 1pt; line-height: 1pt; margin-top: 0pt; margin-bottom: 0; margin-right: 0pt; ">&#8203;</P>
                            </TD>
                            <TD style="border-top: 0pt; padding-top: 1pt; border-right: 0pt; border-left: 0pt; padding-left: 0pt; vertical-align: bottom; padding-bottom: 1pt; border-bottom: 0pt; padding-right: 0pt; ">
                                <P style="margin-left: 22.5pt; color: #000000; text-indent: -11.25pt; font-size: 9pt; font-family: Arial, sans-serif; line-height: normal; margin-top: 0; margin-bottom: 0; text-align: left; margin-right: 0pt; "><FONT>8.50% to 08/14/28 then T5Y + 4.354%, 144A**** </FONT></P>
                            </TD>
                            <TD style="border-top: 0pt; padding-top: 1pt; border-right: 0pt; border-left: 0pt; padding-left: 0pt; vertical-align: bottom; padding-bottom: 1pt; border-bottom: 0pt; padding-right: 0pt; ">
                                <P style="margin-left: 0pt; color: #000000; font-size: 9pt; font-family: Arial, sans-serif; line-height: normal; margin-top: 0; margin-bottom: 0; text-align: right; margin-right: 0pt; "><A name="pfd-nportex_083125a1344"></A><FONT>&#160;532,332</FONT></P>
                            </TD>
                            <TD style="border-top: 0pt; padding-top: 1pt; border-right: 0pt; border-left: 0pt; padding-left: 0pt; vertical-align: bottom; padding-bottom: 1pt; border-bottom: 0pt; padding-right: 0pt; ">
                                <P style="margin-left: 0pt; color: #000000; text-indent: 0pt; font-size: 9pt; font-family: Arial, sans-serif; line-height: normal; margin-top: 0; margin-bottom: 0; text-align: left; margin-right: 0pt; "><FONT>**</FONT><SUP style="font-size: 7.0pt; line-height: 7.0pt; ">(1)(5)</SUP><FONT>&#160;</FONT></P>
                            </TD>
                        </TR>
                        <TR style="min-height: 3pt; ">
                            <TD style="background-color: #cceeff; border-top: 0pt; padding-top: 1pt; border-right: 0pt; border-left: 0pt; padding-left: 0pt; vertical-align: top; padding-bottom: 1pt; border-bottom: 0pt; padding-right: 0pt; ">
                                <P style="margin-left: 0pt; color: #000000; font-size: 9pt; font-family: Arial, sans-serif; line-height: normal; margin-top: 0; margin-bottom: 0; text-align: right; margin-right: 0pt; "><FONT style="float: left; "><FONT>$</FONT></FONT><FONT style="float: right; "><FONT>420,000</FONT></FONT><FONT style="font-size: 9pt; ">&#8203;</FONT>                                    <BR clear="all"></P>
                            </TD>
                            <TD style="background-color: #cceeff; border-top: 0pt; padding-top: 0pt; border-right: 0pt; border-left: 0pt; padding-left: 0pt; vertical-align: bottom; padding-bottom: 0pt; border-bottom: 0pt; padding-right: 0pt; ">
                                <P style="margin-left: 0pt; font-size: 1pt; line-height: 1pt; margin-top: 0pt; margin-bottom: 0; margin-right: 0pt; ">&#8203;</P>
                            </TD>
                            <TD style="background-color: #cceeff; border-top: 0pt; padding-top: 1pt; border-right: 0pt; border-left: 0pt; padding-left: 0pt; vertical-align: bottom; padding-bottom: 1pt; border-bottom: 0pt; padding-right: 0pt; ">
                                <P style="margin-left: 22.5pt; color: #000000; text-indent: -11.25pt; font-size: 9pt; font-family: Arial, sans-serif; line-height: normal; margin-top: 0; margin-bottom: 0; text-align: left; margin-right: 0pt; "><FONT>9.25% to 11/17/27 then T5Y + 4.969%, 144A**** </FONT></P>
                            </TD>
                            <TD style="background-color: #cceeff; border-top: 0pt; padding-top: 1pt; border-right: 0pt; border-left: 0pt; padding-left: 0pt; vertical-align: bottom; padding-bottom: 1pt; border-bottom: 0pt; padding-right: 0pt; ">
                                <P style="margin-left: 0pt; color: #000000; font-size: 9pt; font-family: Arial, sans-serif; line-height: normal; margin-top: 0; margin-bottom: 0; text-align: right; margin-right: 0pt; "><A name="pfd-nportex_083125a1345"></A><FONT>&#160;451,381</FONT></P>
                            </TD>
                            <TD style="background-color: #cceeff; border-top: 0pt; padding-top: 1pt; border-right: 0pt; border-left: 0pt; padding-left: 0pt; vertical-align: bottom; padding-bottom: 1pt; border-bottom: 0pt; padding-right: 0pt; ">
                                <P style="margin-left: 0pt; color: #000000; text-indent: 0pt; font-size: 9pt; font-family: Arial, sans-serif; line-height: normal; margin-top: 0; margin-bottom: 0; text-align: left; margin-right: 0pt; "><FONT>**</FONT><SUP style="font-size: 7.0pt; line-height: 7.0pt; ">(1)(2)(5)</SUP><FONT>&#160;</FONT></P>
                            </TD>
                        </TR>
                        <TR style="min-height: 3pt; ">
                            <TD style="border-top: 0pt; padding-top: 1pt; border-right: 0pt; border-left: 0pt; padding-left: 0pt; vertical-align: top; padding-bottom: 1pt; border-bottom: 0pt; padding-right: 0pt; ">
                                <P style="margin-left: 0pt; color: #000000; font-size: 9pt; font-family: Arial, sans-serif; line-height: normal; margin-top: 0; margin-bottom: 0; text-align: right; margin-right: 0pt; "><FONT>&#160;</FONT></P>
                            </TD>
                            <TD style="border-top: 0pt; padding-top: 0pt; border-right: 0pt; border-left: 0pt; padding-left: 0pt; vertical-align: bottom; padding-bottom: 0pt; border-bottom: 0pt; padding-right: 0pt; ">
                                <P style="margin-left: 0pt; font-size: 1pt; line-height: 1pt; margin-top: 0pt; margin-bottom: 0; margin-right: 0pt; ">&#8203;</P>
                            </TD>
                            <TD style="border-top: 0pt; padding-top: 1pt; border-right: 0pt; border-left: 0pt; padding-left: 0pt; vertical-align: bottom; padding-bottom: 1pt; border-bottom: 0pt; padding-right: 0pt; ">
                                <P style="margin-left: 11.25pt; color: #000000; text-indent: -11.25pt; font-size: 9pt; font-family: Arial, sans-serif; line-height: normal; margin-top: 0; margin-bottom: 0; text-align: left; margin-right: 0pt; "><FONT>Canadian Imperial Bank of Commerce:</FONT></P>
                            </TD>
                            <TD style="border-top: 0pt; padding-top: 0pt; border-right: 0pt; border-left: 0pt; padding-left: 0pt; vertical-align: bottom; padding-bottom: 0pt; border-bottom: 0pt; padding-right: 0pt; ">
                                <P style="margin-left: 0pt; font-size: 1pt; line-height: 1pt; margin-top: 0pt; margin-bottom: 0; margin-right: 0pt; ">&#8203;</P>
                            </TD>
                            <TD style="border-top: 0pt; padding-top: 0pt; border-right: 0pt; border-left: 0pt; padding-left: 0pt; vertical-align: bottom; padding-bottom: 0pt; border-bottom: 0pt; padding-right: 0pt; ">
                                <P style="margin-left: 0pt; font-size: 1pt; line-height: 1pt; margin-top: 0pt; margin-bottom: 0; margin-right: 0pt; ">&#8203;</P>
                            </TD>
                        </TR>
                        <TR style="min-height: 3pt; ">
                            <TD style="background-color: #cceeff; border-top: 0pt; padding-top: 1pt; border-right: 0pt; border-left: 0pt; padding-left: 0pt; vertical-align: top; padding-bottom: 1pt; border-bottom: 0pt; padding-right: 0pt; ">
                                <P style="margin-left: 0pt; color: #000000; font-size: 9pt; font-family: Arial, sans-serif; line-height: normal; margin-top: 0; margin-bottom: 0; text-align: right; margin-right: 0pt; "><FONT style="float: left; "><FONT>$</FONT></FONT><FONT style="float: right; "><FONT>550,000</FONT></FONT><FONT style="font-size: 9pt; ">&#8203;</FONT>                                    <BR clear="all"></P>
                            </TD>
                            <TD style="background-color: #cceeff; border-top: 0pt; padding-top: 0pt; border-right: 0pt; border-left: 0pt; padding-left: 0pt; vertical-align: bottom; padding-bottom: 0pt; border-bottom: 0pt; padding-right: 0pt; ">
                                <P style="margin-left: 0pt; font-size: 1pt; line-height: 1pt; margin-top: 0pt; margin-bottom: 0; margin-right: 0pt; ">&#8203;</P>
                            </TD>
                            <TD style="background-color: #cceeff; border-top: 0pt; padding-top: 1pt; border-right: 0pt; border-left: 0pt; padding-left: 0pt; vertical-align: bottom; padding-bottom: 1pt; border-bottom: 0pt; padding-right: 0pt; ">
                                <P style="margin-left: 22.5pt; color: #000000; text-indent: -11.25pt; font-size: 9pt; font-family: Arial, sans-serif; line-height: normal; margin-top: 0; margin-bottom: 0; text-align: left; margin-right: 0pt; "><FONT>6.95% to 01/28/30 then T5Y + 2.833%, 01/28/85, Series 5 </FONT></P>
                            </TD>
                            <TD style="background-color: #cceeff; border-top: 0pt; padding-top: 1pt; border-right: 0pt; border-left: 0pt; padding-left: 0pt; vertical-align: bottom; padding-bottom: 1pt; border-bottom: 0pt; padding-right: 0pt; ">
                                <P style="margin-left: 0pt; color: #000000; font-size: 9pt; font-family: Arial, sans-serif; line-height: normal; margin-top: 0; margin-bottom: 0; text-align: right; margin-right: 0pt; "><A name="pfd-nportex_083125a1346"></A><FONT>&#160;554,564</FONT></P>
                            </TD>
                            <TD style="background-color: #cceeff; border-top: 0pt; padding-top: 1pt; border-right: 0pt; border-left: 0pt; padding-left: 0pt; vertical-align: bottom; padding-bottom: 1pt; border-bottom: 0pt; padding-right: 0pt; ">
                                <P style="margin-left: 0pt; color: #000000; text-indent: 0pt; font-size: 9pt; font-family: Arial, sans-serif; line-height: normal; margin-top: 0; margin-bottom: 0; text-align: left; margin-right: 0pt; "><FONT>**</FONT><SUP style="font-size: 7.0pt; line-height: 7.0pt; ">(5)</SUP><FONT>&#160;</FONT></P>
                            </TD>
                        </TR>
                        <TR style="min-height: 3pt; ">
                            <TD style="border-top: 0pt; padding-top: 1pt; border-right: 0pt; border-left: 0pt; padding-left: 0pt; vertical-align: top; padding-bottom: 1pt; border-bottom: 0pt; padding-right: 0pt; ">
                                <P style="margin-left: 0pt; color: #000000; font-size: 9pt; font-family: Arial, sans-serif; line-height: normal; margin-top: 0; margin-bottom: 0; text-align: right; margin-right: 0pt; "><FONT style="float: left; "><FONT>$</FONT></FONT><FONT style="float: right; "><FONT>650,000</FONT></FONT><FONT style="font-size: 9pt; ">&#8203;</FONT>                                    <BR clear="all"></P>
                            </TD>
                            <TD style="border-top: 0pt; padding-top: 0pt; border-right: 0pt; border-left: 0pt; padding-left: 0pt; vertical-align: bottom; padding-bottom: 0pt; border-bottom: 0pt; padding-right: 0pt; ">
                                <P style="margin-left: 0pt; font-size: 1pt; line-height: 1pt; margin-top: 0pt; margin-bottom: 0; margin-right: 0pt; ">&#8203;</P>
                            </TD>
                            <TD style="border-top: 0pt; padding-top: 1pt; border-right: 0pt; border-left: 0pt; padding-left: 0pt; vertical-align: bottom; padding-bottom: 1pt; border-bottom: 0pt; padding-right: 0pt; ">
                                <P style="margin-left: 22.5pt; color: #000000; text-indent: -11.25pt; font-size: 9pt; font-family: Arial, sans-serif; line-height: normal; margin-top: 0; margin-bottom: 0; text-align: left; margin-right: 0pt; "><FONT>7.00% to 10/28/30 then T5Y + 3.00%, 10/28/85, Series 7 </FONT></P>
                            </TD>
                            <TD style="border-top: 0pt; padding-top: 1pt; border-right: 0pt; border-left: 0pt; padding-left: 0pt; vertical-align: bottom; padding-bottom: 1pt; border-bottom: 0pt; padding-right: 0pt; ">
                                <P style="margin-left: 0pt; color: #000000; font-size: 9pt; font-family: Arial, sans-serif; line-height: normal; margin-top: 0; margin-bottom: 0; text-align: right; margin-right: 0pt; "><A name="pfd-nportex_083125a1347"></A><FONT>&#160;664,394</FONT></P>
                            </TD>
                            <TD style="border-top: 0pt; padding-top: 1pt; border-right: 0pt; border-left: 0pt; padding-left: 0pt; vertical-align: bottom; padding-bottom: 1pt; border-bottom: 0pt; padding-right: 0pt; ">
                                <P style="margin-left: 0pt; color: #000000; text-indent: 0pt; font-size: 9pt; font-family: Arial, sans-serif; line-height: normal; margin-top: 0; margin-bottom: 0; text-align: left; margin-right: 0pt; "><FONT>**</FONT><SUP style="font-size: 7.0pt; line-height: 7.0pt; ">(5)</SUP><FONT>&#160;</FONT></P>
                            </TD>
                        </TR>
                        <TR style="min-height: 3pt; ">
                            <TD style="background-color: #cceeff; border-top: 0pt; padding-top: 1pt; border-right: 0pt; border-left: 0pt; padding-left: 0pt; vertical-align: top; padding-bottom: 1pt; border-bottom: 0pt; padding-right: 0pt; ">
                                <P style="margin-left: 0pt; color: #000000; font-size: 9pt; font-family: Arial, sans-serif; line-height: normal; margin-top: 0; margin-bottom: 0; text-align: right; margin-right: 0pt; "><FONT style="float: left; "><FONT>$</FONT></FONT><FONT style="float: right; "><FONT>370,000</FONT></FONT><FONT style="font-size: 9pt; ">&#8203;</FONT>                                    <BR clear="all"></P>
                            </TD>
                            <TD style="background-color: #cceeff; border-top: 0pt; padding-top: 0pt; border-right: 0pt; border-left: 0pt; padding-left: 0pt; vertical-align: bottom; padding-bottom: 0pt; border-bottom: 0pt; padding-right: 0pt; ">
                                <P style="margin-left: 0pt; font-size: 1pt; line-height: 1pt; margin-top: 0pt; margin-bottom: 0; margin-right: 0pt; ">&#8203;</P>
                            </TD>
                            <TD style="background-color: #cceeff; border-top: 0pt; padding-top: 1pt; border-right: 0pt; border-left: 0pt; padding-left: 0pt; vertical-align: bottom; padding-bottom: 1pt; border-bottom: 0pt; padding-right: 0pt; ">
                                <P style="margin-left: 22.5pt; color: #000000; text-indent: -11.25pt; font-size: 9pt; font-family: Arial, sans-serif; line-height: normal; margin-top: 0; margin-bottom: 0; text-align: left; margin-right: 0pt; "><FONT>Credit Agricole SA, 4.75% to 09/23/29 then T5Y + 3.237%, 144A**** </FONT></P>
                            </TD>
                            <TD style="background-color: #cceeff; border-top: 0pt; padding-top: 1pt; border-right: 0pt; border-left: 0pt; padding-left: 0pt; vertical-align: bottom; padding-bottom: 1pt; border-bottom: 0pt; padding-right: 0pt; ">
                                <P style="margin-left: 0pt; color: #000000; font-size: 9pt; font-family: Arial, sans-serif; line-height: normal; margin-top: 0; margin-bottom: 0; text-align: right; margin-right: 0pt; "><A name="pfd-nportex_083125a1348"></A><FONT>&#160;352,169</FONT></P>
                            </TD>
                            <TD style="background-color: #cceeff; border-top: 0pt; padding-top: 1pt; border-right: 0pt; border-left: 0pt; padding-left: 0pt; vertical-align: bottom; padding-bottom: 1pt; border-bottom: 0pt; padding-right: 0pt; ">
                                <P style="margin-left: 0pt; color: #000000; text-indent: 0pt; font-size: 9pt; font-family: Arial, sans-serif; line-height: normal; margin-top: 0; margin-bottom: 0; text-align: left; margin-right: 0pt; "><FONT>**</FONT><SUP style="font-size: 7.0pt; line-height: 7.0pt; ">(1)(5)</SUP><FONT>&#160;</FONT></P>
                            </TD>
                        </TR>
                        <TR style="min-height: 3pt; ">
                            <TD style="border-top: 0pt; padding-top: 1pt; border-right: 0pt; border-left: 0pt; padding-left: 0pt; vertical-align: top; padding-bottom: 1pt; border-bottom: 0pt; padding-right: 0pt; ">
                                <P style="margin-left: 0pt; color: #000000; font-size: 9pt; font-family: Arial, sans-serif; line-height: normal; margin-top: 0; margin-bottom: 0; text-align: right; margin-right: 0pt; "><FONT style="float: left; "><FONT>$</FONT></FONT><FONT style="float: right; "><FONT>400,000</FONT></FONT><FONT style="font-size: 9pt; ">&#8203;</FONT>                                    <BR clear="all"></P>
                            </TD>
                            <TD style="border-top: 0pt; padding-top: 0pt; border-right: 0pt; border-left: 0pt; padding-left: 0pt; vertical-align: bottom; padding-bottom: 0pt; border-bottom: 0pt; padding-right: 0pt; ">
                                <P style="margin-left: 0pt; font-size: 1pt; line-height: 1pt; margin-top: 0pt; margin-bottom: 0; margin-right: 0pt; ">&#8203;</P>
                            </TD>
                            <TD style="border-top: 0pt; padding-top: 1pt; border-right: 0pt; border-left: 0pt; padding-left: 0pt; vertical-align: bottom; padding-bottom: 1pt; border-bottom: 0pt; padding-right: 0pt; ">
                                <P style="margin-left: 22.5pt; color: #000000; text-indent: -11.25pt; font-size: 9pt; font-family: Arial, sans-serif; line-height: normal; margin-top: 0; margin-bottom: 0; text-align: left; margin-right: 0pt; "><FONT>Deutsche Bank AG, 6.00% to 04/30/26 then T5Y + 4.524% </FONT></P>
                            </TD>
                            <TD style="border-top: 0pt; padding-top: 1pt; border-right: 0pt; border-left: 0pt; padding-left: 0pt; vertical-align: bottom; padding-bottom: 1pt; border-bottom: 0pt; padding-right: 0pt; ">
                                <P style="margin-left: 0pt; color: #000000; font-size: 9pt; font-family: Arial, sans-serif; line-height: normal; margin-top: 0; margin-bottom: 0; text-align: right; margin-right: 0pt; "><A name="pfd-nportex_083125a1349"></A><FONT>&#160;400,047</FONT></P>
                            </TD>
                            <TD style="border-top: 0pt; padding-top: 1pt; border-right: 0pt; border-left: 0pt; padding-left: 0pt; vertical-align: bottom; padding-bottom: 1pt; border-bottom: 0pt; padding-right: 0pt; ">
                                <P style="margin-left: 0pt; color: #000000; text-indent: 0pt; font-size: 9pt; font-family: Arial, sans-serif; line-height: normal; margin-top: 0; margin-bottom: 0; text-align: left; margin-right: 0pt; "><FONT>**</FONT><SUP style="font-size: 7.0pt; line-height: 7.0pt; ">(1)(5)&#160;</SUP><FONT>&#160;</FONT></P>
                            </TD>
                        </TR>
                    </TABLE>
                </DIV>
            </DIV>
        </DIV>
        <DIV style="page-break-before: always; ">
            <P style="font-size: 5pt; margin: 0pt; ">&#8203;</P>
        </DIV>
        <DIV style="margin: auto; overflow: hidden; width: 675.0pt; position: relative; border-bottom: 2pt solid black; height: 765.0pt; ">
            <DIV style="border: 0pt; padding-top: 0pt; top: 697.5pt; left: 33.75pt; padding-left: 0pt; width: 607.5pt; padding-bottom: 0pt; position: absolute; padding-right: 0pt; height: 33.75pt; ">
                <DIV style="vertical-align: bottom; width: 607.5pt; display: table-cell; height: 33.75pt; ">
                    <!-- [if IE]><TABLE><TR style=" width: 607.5pt; height: 33.75pt;"><TD vAlign="bottom" style=" width: 607.5pt; height: 33.75pt;"><![endif]-->
                    <P style="margin-left: 0pt; color: #000000; text-indent: 0pt; font-size: 12pt; font-family: Times New Roman, Times, serif; margin-top: 0pt; margin-bottom: 0pt; text-align: center; margin-right: 0pt; "><FONT style="font-size: 8pt; font-family: Arial, sans-serif; "> <br></FONT><FONT style="font-size: 10pt; font-family: Arial, sans-serif; ">9</FONT></P>
                    <!-- [if IE]></TD></TR></TABLE><![endif]-->
                </DIV>
            </DIV>
            <DIV style="border: 0pt; padding-top: 0pt; top: 33.75pt; left: 33.75pt; padding-left: 0pt; width: 607.5pt; padding-bottom: 0pt; position: absolute; padding-right: 0pt; height: 86.25pt; ">
                <P style="border-top: 1pt solid ; margin-left: 0pt; color: #000000; font-size: 12pt; font-family: Times New Roman, Times, serif; margin-top: 0pt; margin-bottom: 0pt; text-align: right; margin-right: 0pt; "><FONT style="font-size: 8pt; font-family: Arial, sans-serif; ">&#160;</FONT></P>
                <P style="margin-left: 0pt; color: #000000; font-size: 12pt; font-family: Times New Roman, Times, serif; margin-top: 0pt; margin-bottom: 0pt; text-align: right; margin-right: 0pt; "><FONT style="font-size: 8pt; font-family: Arial, sans-serif; ">Flaherty &amp; Crumrine Preferred and Income Fund Incorporated</FONT></P>
                <P style="margin-left: 0pt; color: #000000; font-size: 12pt; font-family: Times New Roman, Times, serif; margin-top: 0pt; margin-bottom: 0pt; text-align: right; margin-right: 0pt; "><FONT style="font-family: Arial, sans-serif; ">PORTFOLIO OF INVESTMENTS (Continued)</FONT></P>
                <P style="margin-left: 0pt; color: #000000; font-size: 12pt; font-family: Times New Roman, Times, serif; margin-top: 0pt; margin-bottom: 0pt; text-align: right; margin-right: 0pt; "><FONT style="font-size: 10pt; font-family: Arial, sans-serif; ">August 31, 2025&#160;(Unaudited)</FONT></P>
                <P style="margin-left: 0pt; color: #000000; font-size: 12pt; font-family: Times New Roman, Times, serif; margin-top: 0pt; margin-bottom: 0pt; border-bottom: 1pt solid ; text-align: right; margin-right: 0pt; "><FONT style="font-size: 8pt; font-family: Arial, sans-serif; ">&#160;</FONT></P>
            </DIV>
            <DIV style="border: 0pt; padding-top: 0pt; top: 120pt; left: 33.75pt; padding-left: 0pt; width: 607.5pt; padding-bottom: 0pt; position: absolute; padding-right: 0pt; height: 588.26pt; ">
                <DIV style="margin-left: 0pt; color: #000000; font-size: 9pt; font-family: Arial, sans-serif; line-height: 11pt; margin-top: 0pt; margin-bottom: 0pt; text-align: justify; margin-right: 0pt; ">
                    <TABLE style="width: 623.75pt; margin-top: 0pt; margin-bottom: 0pt; table-layout: fixed; border-collapse: collapse; ">
                        <TR style="margin: 0; height: 0; ">
                            <TD style="border: 0; width: 68.75pt; padding: 0; margin: 0; ">
                            </TD>
                            <TD style="border: 0; width: 15.0pt; padding: 0; margin: 0; ">
                            </TD>
                            <TD style="border: 0; width: 412.5pt; padding: 0; margin: 0; ">
                            </TD>
                            <TD style="border: 0; width: 82.5pt; padding: 0; margin: 0; ">
                            </TD>
                            <TD style="border: 0; width: 45.0pt; padding: 0; margin: 0; ">
                            </TD>
                        </TR>
                        <TR style="min-height: 3pt; ">
                            <TD style="border-top: 0pt; padding-top: 1pt; border-right: 0pt; border-left: 0pt; padding-left: 0pt; vertical-align: bottom; padding-bottom: 1pt; border-bottom: 0.5pt solid #000000; padding-right: 0pt; ">
                                <P style="margin-left: 0pt; color: #000000; text-indent: 0pt; font-size: 8pt; font-family: Arial, sans-serif; line-height: normal; margin-top: 0; margin-bottom: 0; text-align: center; margin-right: 0pt; "><FONT style="font-weight: bold; "><B>Shares/$ Par</B></FONT></P>
                            </TD>
                            <TD style="border-top: 0pt; padding-top: 0pt; border-right: 0pt; border-left: 0pt; padding-left: 0pt; vertical-align: top; padding-bottom: 0pt; border-bottom: 0.5pt solid #000000; padding-right: 0pt; ">
                                <P style="margin-left: 0pt; font-size: 1pt; line-height: 1pt; margin-top: 0pt; margin-bottom: 0; margin-right: 0pt; ">&#8203;</P>
                            </TD>
                            <TD style="border-top: 0pt; padding-top: 0pt; border-right: 0pt; border-left: 0pt; padding-left: 0pt; vertical-align: bottom; padding-bottom: 0pt; border-bottom: 0.5pt solid #000000; padding-right: 0pt; ">
                                <P style="margin-left: 0pt; font-size: 1pt; line-height: 1pt; margin-top: 0pt; margin-bottom: 0; margin-right: 0pt; ">&#8203;</P>
                            </TD>
                            <TD style="border-top: 0pt; padding-top: 1pt; border-right: 0pt; border-left: 0pt; padding-left: 0pt; vertical-align: bottom; padding-bottom: 1pt; border-bottom: 0.5pt solid #000000; padding-right: 0pt; ">
                                <P style="margin-left: 0pt; color: #000000; text-indent: 0pt; font-size: 8pt; font-family: Arial, sans-serif; line-height: normal; margin-top: 0; margin-bottom: 0; text-align: center; margin-right: 0pt; "><FONT style="font-weight: bold; "><B>Value</B></FONT></P>
                            </TD>
                            <TD style="border-top: 0pt; padding-top: 0pt; border-right: 0pt; border-left: 0pt; padding-left: 0pt; vertical-align: bottom; padding-bottom: 0pt; border-bottom: 0pt; padding-right: 0pt; ">
                                <P style="margin-left: 0pt; font-size: 1pt; line-height: 1pt; margin-top: 0pt; margin-bottom: 0; margin-right: 0pt; ">&#8203;</P>
                            </TD>
                        </TR>
                        <TR style="min-height: 3pt; ">
                            <TD style="background-color: #cceeff; border-top: 0pt; padding-top: 1pt; border-right: 0pt; border-left: 0pt; padding-left: 0pt; vertical-align: top; padding-bottom: 1pt; border-bottom: 0pt; padding-right: 0pt; ">
                                <P style="margin-left: 0pt; color: #000000; font-size: 9pt; font-family: Arial, sans-serif; line-height: normal; margin-top: 0; margin-bottom: 0; text-align: right; margin-right: 0pt; "><FONT>&#160;</FONT></P>
                            </TD>
                            <TD style="background-color: #cceeff; border-top: 0pt; padding-top: 0pt; border-right: 0pt; border-left: 0pt; padding-left: 0pt; vertical-align: bottom; padding-bottom: 0pt; border-bottom: 0pt; padding-right: 0pt; ">
                                <P style="margin-left: 0pt; font-size: 1pt; line-height: 1pt; margin-top: 0pt; margin-bottom: 0; margin-right: 0pt; ">&#8203;</P>
                            </TD>
                            <TD style="background-color: #cceeff; border-top: 0pt; padding-top: 1pt; border-right: 0pt; border-left: 0pt; padding-left: 0pt; vertical-align: bottom; padding-bottom: 1pt; border-bottom: 0pt; padding-right: 0pt; ">
                                <P style="margin-left: 11.25pt; color: #000000; text-indent: -11.25pt; font-size: 9pt; font-family: Arial, sans-serif; line-height: normal; margin-top: 0; margin-bottom: 0; text-align: left; margin-right: 0pt; "><FONT>HSBC Holdings PLC:</FONT></P>
                            </TD>
                            <TD style="background-color: #cceeff; border-top: 0pt; padding-top: 0pt; border-right: 0pt; border-left: 0pt; padding-left: 0pt; vertical-align: bottom; padding-bottom: 0pt; border-bottom: 0pt; padding-right: 0pt; ">
                                <P style="margin-left: 0pt; font-size: 1pt; line-height: 1pt; margin-top: 0pt; margin-bottom: 0; margin-right: 0pt; ">&#8203;</P>
                            </TD>
                            <TD style="background-color: #cceeff; border-top: 0pt; padding-top: 0pt; border-right: 0pt; border-left: 0pt; padding-left: 0pt; vertical-align: bottom; padding-bottom: 0pt; border-bottom: 0pt; padding-right: 0pt; ">
                                <P style="margin-left: 0pt; font-size: 1pt; line-height: 1pt; margin-top: 0pt; margin-bottom: 0; margin-right: 0pt; ">&#8203;</P>
                            </TD>
                        </TR>
                        <TR style="min-height: 3pt; ">
                            <TD style="border-top: 0pt; padding-top: 1pt; border-right: 0pt; border-left: 0pt; padding-left: 0pt; vertical-align: top; padding-bottom: 1pt; border-bottom: 0pt; padding-right: 0pt; ">
                                <P style="margin-left: 0pt; color: #000000; font-size: 9pt; font-family: Arial, sans-serif; line-height: normal; margin-top: 0; margin-bottom: 0; text-align: right; margin-right: 0pt; "><FONT style="float: left; "><FONT>$</FONT></FONT><FONT style="float: right; "><FONT>350,000</FONT></FONT><FONT style="font-size: 9pt; ">&#8203;</FONT>                                    <BR clear="all"></P>
                            </TD>
                            <TD style="border-top: 0pt; padding-top: 0pt; border-right: 0pt; border-left: 0pt; padding-left: 0pt; vertical-align: bottom; padding-bottom: 0pt; border-bottom: 0pt; padding-right: 0pt; ">
                                <P style="margin-left: 0pt; font-size: 1pt; line-height: 1pt; margin-top: 0pt; margin-bottom: 0; margin-right: 0pt; ">&#8203;</P>
                            </TD>
                            <TD style="border-top: 0pt; padding-top: 1pt; border-right: 0pt; border-left: 0pt; padding-left: 0pt; vertical-align: bottom; padding-bottom: 1pt; border-bottom: 0pt; padding-right: 0pt; ">
                                <P style="margin-left: 22.5pt; color: #000000; text-indent: -11.25pt; font-size: 9pt; font-family: Arial, sans-serif; line-height: normal; margin-top: 0; margin-bottom: 0; text-align: left; margin-right: 0pt; "><FONT>6.00% to 05/22/27 then SW5 + 3.746% </FONT></P>
                            </TD>
                            <TD style="border-top: 0pt; padding-top: 1pt; border-right: 0pt; border-left: 0pt; padding-left: 0pt; vertical-align: bottom; padding-bottom: 1pt; border-bottom: 0pt; padding-right: 0pt; ">
                                <P style="margin-left: 0pt; color: #000000; font-size: 9pt; font-family: Arial, sans-serif; line-height: normal; margin-top: 0; margin-bottom: 0; text-align: right; margin-right: 0pt; "><FONT style="float: left; "><A name="pfd-nportex_083125a1351"></A><FONT>$</FONT></FONT><FONT style="float: right; "><FONT>350,954</FONT></FONT><FONT style="font-size: 9pt; ">&#8203;</FONT>                                    <BR clear="all"></P>
                            </TD>
                            <TD style="border-top: 0pt; padding-top: 1pt; border-right: 0pt; border-left: 0pt; padding-left: 0pt; vertical-align: bottom; padding-bottom: 1pt; border-bottom: 0pt; padding-right: 0pt; ">
                                <P style="margin-left: 0pt; color: #000000; text-indent: 0pt; font-size: 9pt; font-family: Arial, sans-serif; line-height: normal; margin-top: 0; margin-bottom: 0; text-align: left; margin-right: 0pt; "><FONT>**</FONT><SUP style="font-size: 7.0pt; line-height: 7.0pt; ">(1)(2)(5)</SUP><FONT>&#160;</FONT></P>
                            </TD>
                        </TR>
                        <TR style="min-height: 3pt; ">
                            <TD style="background-color: #cceeff; border-top: 0pt; padding-top: 1pt; border-right: 0pt; border-left: 0pt; padding-left: 0pt; vertical-align: top; padding-bottom: 1pt; border-bottom: 0pt; padding-right: 0pt; ">
                                <P style="margin-left: 0pt; color: #000000; font-size: 9pt; font-family: Arial, sans-serif; line-height: normal; margin-top: 0; margin-bottom: 0; text-align: right; margin-right: 0pt; "><FONT style="float: left; "><FONT>$</FONT></FONT><FONT style="float: right; "><FONT>3,710,000</FONT></FONT><FONT style="font-size: 9pt; ">&#8203;</FONT>                                    <BR clear="all"></P>
                            </TD>
                            <TD style="background-color: #cceeff; border-top: 0pt; padding-top: 0pt; border-right: 0pt; border-left: 0pt; padding-left: 0pt; vertical-align: bottom; padding-bottom: 0pt; border-bottom: 0pt; padding-right: 0pt; ">
                                <P style="margin-left: 0pt; font-size: 1pt; line-height: 1pt; margin-top: 0pt; margin-bottom: 0; margin-right: 0pt; ">&#8203;</P>
                            </TD>
                            <TD style="background-color: #cceeff; border-top: 0pt; padding-top: 1pt; border-right: 0pt; border-left: 0pt; padding-left: 0pt; vertical-align: bottom; padding-bottom: 1pt; border-bottom: 0pt; padding-right: 0pt; ">
                                <P style="margin-left: 22.5pt; color: #000000; text-indent: -11.25pt; font-size: 9pt; font-family: Arial, sans-serif; line-height: normal; margin-top: 0; margin-bottom: 0; text-align: left; margin-right: 0pt; "><FONT>6.50% to 03/23/28 then SW5 + 3.606% </FONT></P>
                            </TD>
                            <TD style="background-color: #cceeff; border-top: 0pt; padding-top: 1pt; border-right: 0pt; border-left: 0pt; padding-left: 0pt; vertical-align: bottom; padding-bottom: 1pt; border-bottom: 0pt; padding-right: 0pt; ">
                                <P style="margin-left: 0pt; color: #000000; font-size: 9pt; font-family: Arial, sans-serif; line-height: normal; margin-top: 0; margin-bottom: 0; text-align: right; margin-right: 0pt; "><A name="pfd-nportex_083125a1352"></A><FONT>&#160;3,782,612</FONT></P>
                            </TD>
                            <TD style="background-color: #cceeff; border-top: 0pt; padding-top: 1pt; border-right: 0pt; border-left: 0pt; padding-left: 0pt; vertical-align: bottom; padding-bottom: 1pt; border-bottom: 0pt; padding-right: 0pt; ">
                                <P style="margin-left: 0pt; color: #000000; text-indent: 0pt; font-size: 9pt; font-family: Arial, sans-serif; line-height: normal; margin-top: 0; margin-bottom: 0; text-align: left; margin-right: 0pt; "><FONT>**</FONT><SUP style="font-size: 7.0pt; line-height: 7.0pt; ">(1)(2)(3)(5)</SUP><FONT>&#160;</FONT></P>
                            </TD>
                        </TR>
                        <TR style="min-height: 3pt; ">
                            <TD style="border-top: 0pt; padding-top: 1pt; border-right: 0pt; border-left: 0pt; padding-left: 0pt; vertical-align: top; padding-bottom: 1pt; border-bottom: 0pt; padding-right: 0pt; ">
                                <P style="margin-left: 0pt; color: #000000; font-size: 9pt; font-family: Arial, sans-serif; line-height: normal; margin-top: 0; margin-bottom: 0; text-align: right; margin-right: 0pt; "><FONT style="float: left; "><FONT>$</FONT></FONT><FONT style="float: right; "><FONT>545,000</FONT></FONT><FONT style="font-size: 9pt; ">&#8203;</FONT>                                    <BR clear="all"></P>
                            </TD>
                            <TD style="border-top: 0pt; padding-top: 0pt; border-right: 0pt; border-left: 0pt; padding-left: 0pt; vertical-align: bottom; padding-bottom: 0pt; border-bottom: 0pt; padding-right: 0pt; ">
                                <P style="margin-left: 0pt; font-size: 1pt; line-height: 1pt; margin-top: 0pt; margin-bottom: 0; margin-right: 0pt; ">&#8203;</P>
                            </TD>
                            <TD style="border-top: 0pt; padding-top: 1pt; border-right: 0pt; border-left: 0pt; padding-left: 0pt; vertical-align: bottom; padding-bottom: 1pt; border-bottom: 0pt; padding-right: 0pt; ">
                                <P style="margin-left: 22.5pt; color: #000000; text-indent: -11.25pt; font-size: 9pt; font-family: Arial, sans-serif; line-height: normal; margin-top: 0; margin-bottom: 0; text-align: left; margin-right: 0pt; "><FONT>6.95% to 09/11/34 then T5Y + 3.191% </FONT></P>
                            </TD>
                            <TD style="border-top: 0pt; padding-top: 1pt; border-right: 0pt; border-left: 0pt; padding-left: 0pt; vertical-align: bottom; padding-bottom: 1pt; border-bottom: 0pt; padding-right: 0pt; ">
                                <P style="margin-left: 0pt; color: #000000; font-size: 9pt; font-family: Arial, sans-serif; line-height: normal; margin-top: 0; margin-bottom: 0; text-align: right; margin-right: 0pt; "><A name="pfd-nportex_083125a1353"></A><FONT>&#160;564,770</FONT></P>
                            </TD>
                            <TD style="border-top: 0pt; padding-top: 1pt; border-right: 0pt; border-left: 0pt; padding-left: 0pt; vertical-align: bottom; padding-bottom: 1pt; border-bottom: 0pt; padding-right: 0pt; ">
                                <P style="margin-left: 0pt; color: #000000; text-indent: 0pt; font-size: 9pt; font-family: Arial, sans-serif; line-height: normal; margin-top: 0; margin-bottom: 0; text-align: left; margin-right: 0pt; "><FONT>**</FONT><SUP style="font-size: 7.0pt; line-height: 7.0pt; ">(1)(5)</SUP><FONT>&#160;</FONT></P>
                            </TD>
                        </TR>
                        <TR style="min-height: 3pt; ">
                            <TD style="background-color: #cceeff; border-top: 0pt; padding-top: 1pt; border-right: 0pt; border-left: 0pt; padding-left: 0pt; vertical-align: top; padding-bottom: 1pt; border-bottom: 0pt; padding-right: 0pt; ">
                                <P style="margin-left: 0pt; color: #000000; font-size: 9pt; font-family: Arial, sans-serif; line-height: normal; margin-top: 0; margin-bottom: 0; text-align: right; margin-right: 0pt; "><FONT style="float: left; "><FONT>$</FONT></FONT><FONT style="float: right; "><FONT>515,000</FONT></FONT><FONT style="font-size: 9pt; ">&#8203;</FONT>                                    <BR clear="all"></P>
                            </TD>
                            <TD style="background-color: #cceeff; border-top: 0pt; padding-top: 0pt; border-right: 0pt; border-left: 0pt; padding-left: 0pt; vertical-align: bottom; padding-bottom: 0pt; border-bottom: 0pt; padding-right: 0pt; ">
                                <P style="margin-left: 0pt; font-size: 1pt; line-height: 1pt; margin-top: 0pt; margin-bottom: 0; margin-right: 0pt; ">&#8203;</P>
                            </TD>
                            <TD style="background-color: #cceeff; border-top: 0pt; padding-top: 1pt; border-right: 0pt; border-left: 0pt; padding-left: 0pt; vertical-align: bottom; padding-bottom: 1pt; border-bottom: 0pt; padding-right: 0pt; ">
                                <P style="margin-left: 22.5pt; color: #000000; text-indent: -11.25pt; font-size: 9pt; font-family: Arial, sans-serif; line-height: normal; margin-top: 0; margin-bottom: 0; text-align: left; margin-right: 0pt; "><FONT>7.05% to 12/05/30 then T5Y + 2.987% </FONT></P>
                            </TD>
                            <TD style="background-color: #cceeff; border-top: 0pt; padding-top: 1pt; border-right: 0pt; border-left: 0pt; padding-left: 0pt; vertical-align: bottom; padding-bottom: 1pt; border-bottom: 0pt; padding-right: 0pt; ">
                                <P style="margin-left: 0pt; color: #000000; font-size: 9pt; font-family: Arial, sans-serif; line-height: normal; margin-top: 0; margin-bottom: 0; text-align: right; margin-right: 0pt; "><A name="pfd-nportex_083125a1354"></A><FONT>&#160;532,571</FONT></P>
                            </TD>
                            <TD style="background-color: #cceeff; border-top: 0pt; padding-top: 1pt; border-right: 0pt; border-left: 0pt; padding-left: 0pt; vertical-align: bottom; padding-bottom: 1pt; border-bottom: 0pt; padding-right: 0pt; ">
                                <P style="margin-left: 0pt; color: #000000; text-indent: 0pt; font-size: 9pt; font-family: Arial, sans-serif; line-height: normal; margin-top: 0; margin-bottom: 0; text-align: left; margin-right: 0pt; "><FONT>**</FONT><SUP style="font-size: 7.0pt; line-height: 7.0pt; ">(1)(5)</SUP><FONT>&#160;</FONT></P>
                            </TD>
                        </TR>
                        <TR style="min-height: 3pt; ">
                            <TD style="border-top: 0pt; padding-top: 1pt; border-right: 0pt; border-left: 0pt; padding-left: 0pt; vertical-align: top; padding-bottom: 1pt; border-bottom: 0pt; padding-right: 0pt; ">
                                <P style="margin-left: 0pt; color: #000000; font-size: 9pt; font-family: Arial, sans-serif; line-height: normal; margin-top: 0; margin-bottom: 0; text-align: right; margin-right: 0pt; "><FONT style="float: left; "><FONT>$</FONT></FONT><FONT style="float: right; "><FONT>575,000</FONT></FONT><FONT style="font-size: 9pt; ">&#8203;</FONT>                                    <BR clear="all"></P>
                            </TD>
                            <TD style="border-top: 0pt; padding-top: 0pt; border-right: 0pt; border-left: 0pt; padding-left: 0pt; vertical-align: bottom; padding-bottom: 0pt; border-bottom: 0pt; padding-right: 0pt; ">
                                <P style="margin-left: 0pt; font-size: 1pt; line-height: 1pt; margin-top: 0pt; margin-bottom: 0; margin-right: 0pt; ">&#8203;</P>
                            </TD>
                            <TD style="border-top: 0pt; padding-top: 1pt; border-right: 0pt; border-left: 0pt; padding-left: 0pt; vertical-align: bottom; padding-bottom: 1pt; border-bottom: 0pt; padding-right: 0pt; ">
                                <P style="margin-left: 11.25pt; color: #000000; text-indent: -11.25pt; font-size: 9pt; font-family: Arial, sans-serif; line-height: normal; margin-top: 0; margin-bottom: 0; text-align: left; margin-right: 0pt; "><FONT>ING Groep NV, 3.875% to 11/16/27 then T5Y + 2.862% </FONT></P>
                            </TD>
                            <TD style="border-top: 0pt; padding-top: 1pt; border-right: 0pt; border-left: 0pt; padding-left: 0pt; vertical-align: bottom; padding-bottom: 1pt; border-bottom: 0pt; padding-right: 0pt; ">
                                <P style="margin-left: 0pt; color: #000000; font-size: 9pt; font-family: Arial, sans-serif; line-height: normal; margin-top: 0; margin-bottom: 0; text-align: right; margin-right: 0pt; "><A name="pfd-nportex_083125a1355"></A><FONT>&#160;548,157</FONT></P>
                            </TD>
                            <TD style="border-top: 0pt; padding-top: 1pt; border-right: 0pt; border-left: 0pt; padding-left: 0pt; vertical-align: bottom; padding-bottom: 1pt; border-bottom: 0pt; padding-right: 0pt; ">
                                <P style="margin-left: 0pt; color: #000000; text-indent: 0pt; font-size: 9pt; font-family: Arial, sans-serif; line-height: normal; margin-top: 0; margin-bottom: 0; text-align: left; margin-right: 0pt; "><FONT>**</FONT><SUP style="font-size: 7.0pt; line-height: 7.0pt; ">(1)(2)(3)(5)</SUP><FONT>&#160;</FONT></P>
                            </TD>
                        </TR>
                        <TR style="min-height: 3pt; ">
                            <TD style="background-color: #cceeff; border-top: 0pt; padding-top: 1pt; border-right: 0pt; border-left: 0pt; padding-left: 0pt; vertical-align: top; padding-bottom: 1pt; border-bottom: 0pt; padding-right: 0pt; ">
                                <P style="margin-left: 0pt; color: #000000; font-size: 9pt; font-family: Arial, sans-serif; line-height: normal; margin-top: 0; margin-bottom: 0; text-align: right; margin-right: 0pt; "><FONT>&#160;</FONT></P>
                            </TD>
                            <TD style="background-color: #cceeff; border-top: 0pt; padding-top: 0pt; border-right: 0pt; border-left: 0pt; padding-left: 0pt; vertical-align: bottom; padding-bottom: 0pt; border-bottom: 0pt; padding-right: 0pt; ">
                                <P style="margin-left: 0pt; font-size: 1pt; line-height: 1pt; margin-top: 0pt; margin-bottom: 0; margin-right: 0pt; ">&#8203;</P>
                            </TD>
                            <TD style="background-color: #cceeff; border-top: 0pt; padding-top: 1pt; border-right: 0pt; border-left: 0pt; padding-left: 0pt; vertical-align: bottom; padding-bottom: 1pt; border-bottom: 0pt; padding-right: 0pt; ">
                                <P style="margin-left: 11.25pt; color: #000000; text-indent: -11.25pt; font-size: 9pt; font-family: Arial, sans-serif; line-height: normal; margin-top: 0; margin-bottom: 0; text-align: left; margin-right: 0pt; "><FONT>Lloyds Banking Group PLC:</FONT></P>
                            </TD>
                            <TD style="background-color: #cceeff; border-top: 0pt; padding-top: 0pt; border-right: 0pt; border-left: 0pt; padding-left: 0pt; vertical-align: bottom; padding-bottom: 0pt; border-bottom: 0pt; padding-right: 0pt; ">
                                <P style="margin-left: 0pt; font-size: 1pt; line-height: 1pt; margin-top: 0pt; margin-bottom: 0; margin-right: 0pt; ">&#8203;</P>
                            </TD>
                            <TD style="background-color: #cceeff; border-top: 0pt; padding-top: 0pt; border-right: 0pt; border-left: 0pt; padding-left: 0pt; vertical-align: bottom; padding-bottom: 0pt; border-bottom: 0pt; padding-right: 0pt; ">
                                <P style="margin-left: 0pt; font-size: 1pt; line-height: 1pt; margin-top: 0pt; margin-bottom: 0; margin-right: 0pt; ">&#8203;</P>
                            </TD>
                        </TR>
                        <TR style="min-height: 3pt; ">
                            <TD style="border-top: 0pt; padding-top: 1pt; border-right: 0pt; border-left: 0pt; padding-left: 0pt; vertical-align: top; padding-bottom: 1pt; border-bottom: 0pt; padding-right: 0pt; ">
                                <P style="margin-left: 0pt; color: #000000; font-size: 9pt; font-family: Arial, sans-serif; line-height: normal; margin-top: 0; margin-bottom: 0; text-align: right; margin-right: 0pt; "><FONT style="float: left; "><FONT>$</FONT></FONT><FONT style="float: right; "><FONT>200,000</FONT></FONT><FONT style="font-size: 9pt; ">&#8203;</FONT>                                    <BR clear="all"></P>
                            </TD>
                            <TD style="border-top: 0pt; padding-top: 0pt; border-right: 0pt; border-left: 0pt; padding-left: 0pt; vertical-align: bottom; padding-bottom: 0pt; border-bottom: 0pt; padding-right: 0pt; ">
                                <P style="margin-left: 0pt; font-size: 1pt; line-height: 1pt; margin-top: 0pt; margin-bottom: 0; margin-right: 0pt; ">&#8203;</P>
                            </TD>
                            <TD style="border-top: 0pt; padding-top: 1pt; border-right: 0pt; border-left: 0pt; padding-left: 0pt; vertical-align: bottom; padding-bottom: 1pt; border-bottom: 0pt; padding-right: 0pt; ">
                                <P style="margin-left: 22.5pt; color: #000000; text-indent: -11.25pt; font-size: 9pt; font-family: Arial, sans-serif; line-height: normal; margin-top: 0; margin-bottom: 0; text-align: left; margin-right: 0pt; "><FONT>7.50% to 09/27/25 then SW5 + 4.496% </FONT></P>
                            </TD>
                            <TD style="border-top: 0pt; padding-top: 1pt; border-right: 0pt; border-left: 0pt; padding-left: 0pt; vertical-align: bottom; padding-bottom: 1pt; border-bottom: 0pt; padding-right: 0pt; ">
                                <P style="margin-left: 0pt; color: #000000; font-size: 9pt; font-family: Arial, sans-serif; line-height: normal; margin-top: 0; margin-bottom: 0; text-align: right; margin-right: 0pt; "><A name="pfd-nportex_083125a1356"></A><FONT>&#160;200,567</FONT></P>
                            </TD>
                            <TD style="border-top: 0pt; padding-top: 1pt; border-right: 0pt; border-left: 0pt; padding-left: 0pt; vertical-align: bottom; padding-bottom: 1pt; border-bottom: 0pt; padding-right: 0pt; ">
                                <P style="margin-left: 0pt; color: #000000; text-indent: 0pt; font-size: 9pt; font-family: Arial, sans-serif; line-height: normal; margin-top: 0; margin-bottom: 0; text-align: left; margin-right: 0pt; "><FONT>**</FONT><SUP style="font-size: 7.0pt; line-height: 7.0pt; ">(1)(5)</SUP><FONT>&#160;</FONT></P>
                            </TD>
                        </TR>
                        <TR style="min-height: 3pt; ">
                            <TD style="background-color: #cceeff; border-top: 0pt; padding-top: 1pt; border-right: 0pt; border-left: 0pt; padding-left: 0pt; vertical-align: top; padding-bottom: 1pt; border-bottom: 0pt; padding-right: 0pt; ">
                                <P style="margin-left: 0pt; color: #000000; font-size: 9pt; font-family: Arial, sans-serif; line-height: normal; margin-top: 0; margin-bottom: 0; text-align: right; margin-right: 0pt; "><FONT style="float: left; "><FONT>$</FONT></FONT><FONT style="float: right; "><FONT>1,940,000</FONT></FONT><FONT style="font-size: 9pt; ">&#8203;</FONT>                                    <BR clear="all"></P>
                            </TD>
                            <TD style="background-color: #cceeff; border-top: 0pt; padding-top: 0pt; border-right: 0pt; border-left: 0pt; padding-left: 0pt; vertical-align: bottom; padding-bottom: 0pt; border-bottom: 0pt; padding-right: 0pt; ">
                                <P style="margin-left: 0pt; font-size: 1pt; line-height: 1pt; margin-top: 0pt; margin-bottom: 0; margin-right: 0pt; ">&#8203;</P>
                            </TD>
                            <TD style="background-color: #cceeff; border-top: 0pt; padding-top: 1pt; border-right: 0pt; border-left: 0pt; padding-left: 0pt; vertical-align: bottom; padding-bottom: 1pt; border-bottom: 0pt; padding-right: 0pt; ">
                                <P style="margin-left: 22.5pt; color: #000000; text-indent: -11.25pt; font-size: 9pt; font-family: Arial, sans-serif; line-height: normal; margin-top: 0; margin-bottom: 0; text-align: left; margin-right: 0pt; "><FONT>8.00% to 03/27/30 then T5Y + 3.913% </FONT></P>
                            </TD>
                            <TD style="background-color: #cceeff; border-top: 0pt; padding-top: 1pt; border-right: 0pt; border-left: 0pt; padding-left: 0pt; vertical-align: bottom; padding-bottom: 1pt; border-bottom: 0pt; padding-right: 0pt; ">
                                <P style="margin-left: 0pt; color: #000000; font-size: 9pt; font-family: Arial, sans-serif; line-height: normal; margin-top: 0; margin-bottom: 0; text-align: right; margin-right: 0pt; "><A name="pfd-nportex_083125a1357"></A><FONT>&#160;2,088,662</FONT></P>
                            </TD>
                            <TD style="background-color: #cceeff; border-top: 0pt; padding-top: 1pt; border-right: 0pt; border-left: 0pt; padding-left: 0pt; vertical-align: bottom; padding-bottom: 1pt; border-bottom: 0pt; padding-right: 0pt; ">
                                <P style="margin-left: 0pt; color: #000000; text-indent: 0pt; font-size: 9pt; font-family: Arial, sans-serif; line-height: normal; margin-top: 0; margin-bottom: 0; text-align: left; margin-right: 0pt; "><FONT>**</FONT><SUP style="font-size: 7.0pt; line-height: 7.0pt; ">(1)(2)(3)(5)</SUP><FONT>&#160;</FONT></P>
                            </TD>
                        </TR>
                        <TR style="min-height: 3pt; ">
                            <TD style="border-top: 0pt; padding-top: 1pt; border-right: 0pt; border-left: 0pt; padding-left: 0pt; vertical-align: top; padding-bottom: 1pt; border-bottom: 0pt; padding-right: 0pt; ">
                                <P style="margin-left: 0pt; color: #000000; font-size: 9pt; font-family: Arial, sans-serif; line-height: normal; margin-top: 0; margin-bottom: 0; text-align: right; margin-right: 0pt; "><FONT>&#160;</FONT></P>
                            </TD>
                            <TD style="border-top: 0pt; padding-top: 0pt; border-right: 0pt; border-left: 0pt; padding-left: 0pt; vertical-align: bottom; padding-bottom: 0pt; border-bottom: 0pt; padding-right: 0pt; ">
                                <P style="margin-left: 0pt; font-size: 1pt; line-height: 1pt; margin-top: 0pt; margin-bottom: 0; margin-right: 0pt; ">&#8203;</P>
                            </TD>
                            <TD style="border-top: 0pt; padding-top: 1pt; border-right: 0pt; border-left: 0pt; padding-left: 0pt; vertical-align: bottom; padding-bottom: 1pt; border-bottom: 0pt; padding-right: 0pt; ">
                                <P style="margin-left: 11.25pt; color: #000000; text-indent: -11.25pt; font-size: 9pt; font-family: Arial, sans-serif; line-height: normal; margin-top: 0; margin-bottom: 0; text-align: left; margin-right: 0pt; "><FONT>NatWest Group PLC:</FONT></P>
                            </TD>
                            <TD style="border-top: 0pt; padding-top: 0pt; border-right: 0pt; border-left: 0pt; padding-left: 0pt; vertical-align: bottom; padding-bottom: 0pt; border-bottom: 0pt; padding-right: 0pt; ">
                                <P style="margin-left: 0pt; font-size: 1pt; line-height: 1pt; margin-top: 0pt; margin-bottom: 0; margin-right: 0pt; ">&#8203;</P>
                            </TD>
                            <TD style="border-top: 0pt; padding-top: 0pt; border-right: 0pt; border-left: 0pt; padding-left: 0pt; vertical-align: bottom; padding-bottom: 0pt; border-bottom: 0pt; padding-right: 0pt; ">
                                <P style="margin-left: 0pt; font-size: 1pt; line-height: 1pt; margin-top: 0pt; margin-bottom: 0; margin-right: 0pt; ">&#8203;</P>
                            </TD>
                        </TR>
                        <TR style="min-height: 3pt; ">
                            <TD style="background-color: #cceeff; border-top: 0pt; padding-top: 1pt; border-right: 0pt; border-left: 0pt; padding-left: 0pt; vertical-align: top; padding-bottom: 1pt; border-bottom: 0pt; padding-right: 0pt; ">
                                <P style="margin-left: 0pt; color: #000000; font-size: 9pt; font-family: Arial, sans-serif; line-height: normal; margin-top: 0; margin-bottom: 0; text-align: right; margin-right: 0pt; "><FONT style="float: left; "><FONT>$</FONT></FONT><FONT style="float: right; "><FONT>300,000</FONT></FONT><FONT style="font-size: 9pt; ">&#8203;</FONT>                                    <BR clear="all"></P>
                            </TD>
                            <TD style="background-color: #cceeff; border-top: 0pt; padding-top: 0pt; border-right: 0pt; border-left: 0pt; padding-left: 0pt; vertical-align: bottom; padding-bottom: 0pt; border-bottom: 0pt; padding-right: 0pt; ">
                                <P style="margin-left: 0pt; font-size: 1pt; line-height: 1pt; margin-top: 0pt; margin-bottom: 0; margin-right: 0pt; ">&#8203;</P>
                            </TD>
                            <TD style="background-color: #cceeff; border-top: 0pt; padding-top: 1pt; border-right: 0pt; border-left: 0pt; padding-left: 0pt; vertical-align: bottom; padding-bottom: 1pt; border-bottom: 0pt; padding-right: 0pt; ">
                                <P style="margin-left: 22.5pt; color: #000000; text-indent: -11.25pt; font-size: 9pt; font-family: Arial, sans-serif; line-height: normal; margin-top: 0; margin-bottom: 0; text-align: left; margin-right: 0pt; "><FONT>4.60% to 12/28/31 then T5Y + 3.10% </FONT></P>
                            </TD>
                            <TD style="background-color: #cceeff; border-top: 0pt; padding-top: 1pt; border-right: 0pt; border-left: 0pt; padding-left: 0pt; vertical-align: bottom; padding-bottom: 1pt; border-bottom: 0pt; padding-right: 0pt; ">
                                <P style="margin-left: 0pt; color: #000000; font-size: 9pt; font-family: Arial, sans-serif; line-height: normal; margin-top: 0; margin-bottom: 0; text-align: right; margin-right: 0pt; "><A name="pfd-nportex_083125a1358"></A><FONT>&#160;269,781</FONT></P>
                            </TD>
                            <TD style="background-color: #cceeff; border-top: 0pt; padding-top: 1pt; border-right: 0pt; border-left: 0pt; padding-left: 0pt; vertical-align: bottom; padding-bottom: 1pt; border-bottom: 0pt; padding-right: 0pt; ">
                                <P style="margin-left: 0pt; color: #000000; text-indent: 0pt; font-size: 9pt; font-family: Arial, sans-serif; line-height: normal; margin-top: 0; margin-bottom: 0; text-align: left; margin-right: 0pt; "><FONT>**</FONT><SUP style="font-size: 7.0pt; line-height: 7.0pt; ">(1)(5)</SUP><FONT>&#160;</FONT></P>
                            </TD>
                        </TR>
                        <TR style="min-height: 3pt; ">
                            <TD style="border-top: 0pt; padding-top: 1pt; border-right: 0pt; border-left: 0pt; padding-left: 0pt; vertical-align: top; padding-bottom: 1pt; border-bottom: 0pt; padding-right: 0pt; ">
                                <P style="margin-left: 0pt; color: #000000; font-size: 9pt; font-family: Arial, sans-serif; line-height: normal; margin-top: 0; margin-bottom: 0; text-align: right; margin-right: 0pt; "><FONT style="float: left; "><FONT>$</FONT></FONT><FONT style="float: right; "><FONT>230,000</FONT></FONT><FONT style="font-size: 9pt; ">&#8203;</FONT>                                    <BR clear="all"></P>
                            </TD>
                            <TD style="border-top: 0pt; padding-top: 0pt; border-right: 0pt; border-left: 0pt; padding-left: 0pt; vertical-align: bottom; padding-bottom: 0pt; border-bottom: 0pt; padding-right: 0pt; ">
                                <P style="margin-left: 0pt; font-size: 1pt; line-height: 1pt; margin-top: 0pt; margin-bottom: 0; margin-right: 0pt; ">&#8203;</P>
                            </TD>
                            <TD style="border-top: 0pt; padding-top: 1pt; border-right: 0pt; border-left: 0pt; padding-left: 0pt; vertical-align: bottom; padding-bottom: 1pt; border-bottom: 0pt; padding-right: 0pt; ">
                                <P style="margin-left: 22.5pt; color: #000000; text-indent: -11.25pt; font-size: 9pt; font-family: Arial, sans-serif; line-height: normal; margin-top: 0; margin-bottom: 0; text-align: left; margin-right: 0pt; "><FONT>8.125% to 05/10/34 then T5Y + 3.752% </FONT></P>
                            </TD>
                            <TD style="border-top: 0pt; padding-top: 1pt; border-right: 0pt; border-left: 0pt; padding-left: 0pt; vertical-align: bottom; padding-bottom: 1pt; border-bottom: 0pt; padding-right: 0pt; ">
                                <P style="margin-left: 0pt; color: #000000; font-size: 9pt; font-family: Arial, sans-serif; line-height: normal; margin-top: 0; margin-bottom: 0; text-align: right; margin-right: 0pt; "><A name="pfd-nportex_083125a1359"></A><FONT>&#160;255,239</FONT></P>
                            </TD>
                            <TD style="border-top: 0pt; padding-top: 1pt; border-right: 0pt; border-left: 0pt; padding-left: 0pt; vertical-align: bottom; padding-bottom: 1pt; border-bottom: 0pt; padding-right: 0pt; ">
                                <P style="margin-left: 0pt; color: #000000; text-indent: 0pt; font-size: 9pt; font-family: Arial, sans-serif; line-height: normal; margin-top: 0; margin-bottom: 0; text-align: left; margin-right: 0pt; "><FONT>**</FONT><SUP style="font-size: 7.0pt; line-height: 7.0pt; ">(1)(5)</SUP><FONT>&#160;</FONT></P>
                            </TD>
                        </TR>
                        <TR style="min-height: 3pt; ">
                            <TD style="background-color: #cceeff; border-top: 0pt; padding-top: 1pt; border-right: 0pt; border-left: 0pt; padding-left: 0pt; vertical-align: top; padding-bottom: 1pt; border-bottom: 0pt; padding-right: 0pt; ">
                                <P style="margin-left: 0pt; color: #000000; font-size: 9pt; font-family: Arial, sans-serif; line-height: normal; margin-top: 0; margin-bottom: 0; text-align: right; margin-right: 0pt; "><FONT>&#160;</FONT></P>
                            </TD>
                            <TD style="background-color: #cceeff; border-top: 0pt; padding-top: 0pt; border-right: 0pt; border-left: 0pt; padding-left: 0pt; vertical-align: bottom; padding-bottom: 0pt; border-bottom: 0pt; padding-right: 0pt; ">
                                <P style="margin-left: 0pt; font-size: 1pt; line-height: 1pt; margin-top: 0pt; margin-bottom: 0; margin-right: 0pt; ">&#8203;</P>
                            </TD>
                            <TD style="background-color: #cceeff; border-top: 0pt; padding-top: 1pt; border-right: 0pt; border-left: 0pt; padding-left: 0pt; vertical-align: bottom; padding-bottom: 1pt; border-bottom: 0pt; padding-right: 0pt; ">
                                <P style="margin-left: 11.25pt; color: #000000; text-indent: -11.25pt; font-size: 9pt; font-family: Arial, sans-serif; line-height: normal; margin-top: 0; margin-bottom: 0; text-align: left; margin-right: 0pt; "><FONT>Royal Bank of Canada:</FONT></P>
                            </TD>
                            <TD style="background-color: #cceeff; border-top: 0pt; padding-top: 0pt; border-right: 0pt; border-left: 0pt; padding-left: 0pt; vertical-align: bottom; padding-bottom: 0pt; border-bottom: 0pt; padding-right: 0pt; ">
                                <P style="margin-left: 0pt; font-size: 1pt; line-height: 1pt; margin-top: 0pt; margin-bottom: 0; margin-right: 0pt; ">&#8203;</P>
                            </TD>
                            <TD style="background-color: #cceeff; border-top: 0pt; padding-top: 0pt; border-right: 0pt; border-left: 0pt; padding-left: 0pt; vertical-align: bottom; padding-bottom: 0pt; border-bottom: 0pt; padding-right: 0pt; ">
                                <P style="margin-left: 0pt; font-size: 1pt; line-height: 1pt; margin-top: 0pt; margin-bottom: 0; margin-right: 0pt; ">&#8203;</P>
                            </TD>
                        </TR>
                        <TR style="min-height: 3pt; ">
                            <TD style="border-top: 0pt; padding-top: 1pt; border-right: 0pt; border-left: 0pt; padding-left: 0pt; vertical-align: top; padding-bottom: 1pt; border-bottom: 0pt; padding-right: 0pt; ">
                                <P style="margin-left: 0pt; color: #000000; font-size: 9pt; font-family: Arial, sans-serif; line-height: normal; margin-top: 0; margin-bottom: 0; text-align: right; margin-right: 0pt; "><FONT style="float: left; "><FONT>$</FONT></FONT><FONT style="float: right; "><FONT>1,100,000</FONT></FONT><FONT style="font-size: 9pt; ">&#8203;</FONT>                                    <BR clear="all"></P>
                            </TD>
                            <TD style="border-top: 0pt; padding-top: 0pt; border-right: 0pt; border-left: 0pt; padding-left: 0pt; vertical-align: bottom; padding-bottom: 0pt; border-bottom: 0pt; padding-right: 0pt; ">
                                <P style="margin-left: 0pt; font-size: 1pt; line-height: 1pt; margin-top: 0pt; margin-bottom: 0; margin-right: 0pt; ">&#8203;</P>
                            </TD>
                            <TD style="border-top: 0pt; padding-top: 1pt; border-right: 0pt; border-left: 0pt; padding-left: 0pt; vertical-align: bottom; padding-bottom: 1pt; border-bottom: 0pt; padding-right: 0pt; ">
                                <P style="margin-left: 22.5pt; color: #000000; text-indent: -11.25pt; font-size: 9pt; font-family: Arial, sans-serif; line-height: normal; margin-top: 0; margin-bottom: 0; text-align: left; margin-right: 0pt; "><FONT>6.35% to 11/24/34 then T5Y + 2.257%, 11/24/84, Series 5 </FONT></P>
                            </TD>
                            <TD style="border-top: 0pt; padding-top: 1pt; border-right: 0pt; border-left: 0pt; padding-left: 0pt; vertical-align: bottom; padding-bottom: 1pt; border-bottom: 0pt; padding-right: 0pt; ">
                                <P style="margin-left: 0pt; color: #000000; font-size: 9pt; font-family: Arial, sans-serif; line-height: normal; margin-top: 0; margin-bottom: 0; text-align: right; margin-right: 0pt; "><A name="pfd-nportex_083125a1360"></A><FONT>&#160;1,068,523</FONT></P>
                            </TD>
                            <TD style="border-top: 0pt; padding-top: 1pt; border-right: 0pt; border-left: 0pt; padding-left: 0pt; vertical-align: bottom; padding-bottom: 1pt; border-bottom: 0pt; padding-right: 0pt; ">
                                <P style="margin-left: 0pt; color: #000000; text-indent: 0pt; font-size: 9pt; font-family: Arial, sans-serif; line-height: normal; margin-top: 0; margin-bottom: 0; text-align: left; margin-right: 0pt; "><FONT>**</FONT><SUP style="font-size: 7.0pt; line-height: 7.0pt; ">(2)(3)(5)</SUP><FONT>&#160;</FONT></P>
                            </TD>
                        </TR>
                        <TR style="min-height: 3pt; ">
                            <TD style="background-color: #cceeff; border-top: 0pt; padding-top: 1pt; border-right: 0pt; border-left: 0pt; padding-left: 0pt; vertical-align: top; padding-bottom: 1pt; border-bottom: 0pt; padding-right: 0pt; ">
                                <P style="margin-left: 0pt; color: #000000; font-size: 9pt; font-family: Arial, sans-serif; line-height: normal; margin-top: 0; margin-bottom: 0; text-align: right; margin-right: 0pt; "><FONT style="float: left; "><FONT>$</FONT></FONT><FONT style="float: right; "><FONT>470,000</FONT></FONT><FONT style="font-size: 9pt; ">&#8203;</FONT>                                    <BR clear="all"></P>
                            </TD>
                            <TD style="background-color: #cceeff; border-top: 0pt; padding-top: 0pt; border-right: 0pt; border-left: 0pt; padding-left: 0pt; vertical-align: bottom; padding-bottom: 0pt; border-bottom: 0pt; padding-right: 0pt; ">
                                <P style="margin-left: 0pt; font-size: 1pt; line-height: 1pt; margin-top: 0pt; margin-bottom: 0; margin-right: 0pt; ">&#8203;</P>
                            </TD>
                            <TD style="background-color: #cceeff; border-top: 0pt; padding-top: 1pt; border-right: 0pt; border-left: 0pt; padding-left: 0pt; vertical-align: bottom; padding-bottom: 1pt; border-bottom: 0pt; padding-right: 0pt; ">
                                <P style="margin-left: 22.5pt; color: #000000; text-indent: -11.25pt; font-size: 9pt; font-family: Arial, sans-serif; line-height: normal; margin-top: 0; margin-bottom: 0; text-align: left; margin-right: 0pt; "><FONT>6.75% to 08/24/30 then T5Y + 2.815%, 08/24/85, Series 6 </FONT></P>
                            </TD>
                            <TD style="background-color: #cceeff; border-top: 0pt; padding-top: 1pt; border-right: 0pt; border-left: 0pt; padding-left: 0pt; vertical-align: bottom; padding-bottom: 1pt; border-bottom: 0pt; padding-right: 0pt; ">
                                <P style="margin-left: 0pt; color: #000000; font-size: 9pt; font-family: Arial, sans-serif; line-height: normal; margin-top: 0; margin-bottom: 0; text-align: right; margin-right: 0pt; "><A name="pfd-nportex_083125a1361"></A><FONT>&#160;478,710</FONT></P>
                            </TD>
                            <TD style="background-color: #cceeff; border-top: 0pt; padding-top: 1pt; border-right: 0pt; border-left: 0pt; padding-left: 0pt; vertical-align: bottom; padding-bottom: 1pt; border-bottom: 0pt; padding-right: 0pt; ">
                                <P style="margin-left: 0pt; color: #000000; text-indent: 0pt; font-size: 9pt; font-family: Arial, sans-serif; line-height: normal; margin-top: 0; margin-bottom: 0; text-align: left; margin-right: 0pt; "><FONT>**</FONT><SUP style="font-size: 7.0pt; line-height: 7.0pt; ">(5)</SUP><FONT>&#160;</FONT></P>
                            </TD>
                        </TR>
                        <TR style="min-height: 3pt; ">
                            <TD style="border-top: 0pt; padding-top: 1pt; border-right: 0pt; border-left: 0pt; padding-left: 0pt; vertical-align: top; padding-bottom: 1pt; border-bottom: 0pt; padding-right: 0pt; ">
                                <P style="margin-left: 0pt; color: #000000; font-size: 9pt; font-family: Arial, sans-serif; line-height: normal; margin-top: 0; margin-bottom: 0; text-align: right; margin-right: 0pt; "><FONT style="float: left; "><FONT>$</FONT></FONT><FONT style="float: right; "><FONT>755,000</FONT></FONT><FONT style="font-size: 9pt; ">&#8203;</FONT>                                    <BR clear="all"></P>
                            </TD>
                            <TD style="border-top: 0pt; padding-top: 0pt; border-right: 0pt; border-left: 0pt; padding-left: 0pt; vertical-align: bottom; padding-bottom: 0pt; border-bottom: 0pt; padding-right: 0pt; ">
                                <P style="margin-left: 0pt; font-size: 1pt; line-height: 1pt; margin-top: 0pt; margin-bottom: 0; margin-right: 0pt; ">&#8203;</P>
                            </TD>
                            <TD style="border-top: 0pt; padding-top: 1pt; border-right: 0pt; border-left: 0pt; padding-left: 0pt; vertical-align: bottom; padding-bottom: 1pt; border-bottom: 0pt; padding-right: 0pt; ">
                                <P style="margin-left: 22.5pt; color: #000000; text-indent: -11.25pt; font-size: 9pt; font-family: Arial, sans-serif; line-height: normal; margin-top: 0; margin-bottom: 0; text-align: left; margin-right: 0pt; "><FONT>7.50% to 05/02/29 then T5Y + 2.887%, 05/02/84, Series 4 </FONT></P>
                            </TD>
                            <TD style="border-top: 0pt; padding-top: 1pt; border-right: 0pt; border-left: 0pt; padding-left: 0pt; vertical-align: bottom; padding-bottom: 1pt; border-bottom: 0pt; padding-right: 0pt; ">
                                <P style="margin-left: 0pt; color: #000000; font-size: 9pt; font-family: Arial, sans-serif; line-height: normal; margin-top: 0; margin-bottom: 0; text-align: right; margin-right: 0pt; "><A name="pfd-nportex_083125a1362"></A><FONT>&#160;791,272</FONT></P>
                            </TD>
                            <TD style="border-top: 0pt; padding-top: 1pt; border-right: 0pt; border-left: 0pt; padding-left: 0pt; vertical-align: bottom; padding-bottom: 1pt; border-bottom: 0pt; padding-right: 0pt; ">
                                <P style="margin-left: 0pt; color: #000000; text-indent: 0pt; font-size: 9pt; font-family: Arial, sans-serif; line-height: normal; margin-top: 0; margin-bottom: 0; text-align: left; margin-right: 0pt; "><FONT>**</FONT><SUP style="font-size: 7.0pt; line-height: 7.0pt; ">(2)(5)</SUP><FONT>&#160;</FONT></P>
                            </TD>
                        </TR>
                        <TR style="min-height: 3pt; ">
                            <TD style="background-color: #cceeff; border-top: 0pt; padding-top: 1pt; border-right: 0pt; border-left: 0pt; padding-left: 0pt; vertical-align: top; padding-bottom: 1pt; border-bottom: 0pt; padding-right: 0pt; ">
                                <P style="margin-left: 0pt; color: #000000; font-size: 9pt; font-family: Arial, sans-serif; line-height: normal; margin-top: 0; margin-bottom: 0; text-align: right; margin-right: 0pt; "><FONT>&#160;</FONT></P>
                            </TD>
                            <TD style="background-color: #cceeff; border-top: 0pt; padding-top: 0pt; border-right: 0pt; border-left: 0pt; padding-left: 0pt; vertical-align: bottom; padding-bottom: 0pt; border-bottom: 0pt; padding-right: 0pt; ">
                                <P style="margin-left: 0pt; font-size: 1pt; line-height: 1pt; margin-top: 0pt; margin-bottom: 0; margin-right: 0pt; ">&#8203;</P>
                            </TD>
                            <TD style="background-color: #cceeff; border-top: 0pt; padding-top: 1pt; border-right: 0pt; border-left: 0pt; padding-left: 0pt; vertical-align: bottom; padding-bottom: 1pt; border-bottom: 0pt; padding-right: 0pt; ">
                                <P style="margin-left: 11.25pt; color: #000000; text-indent: -11.25pt; font-size: 9pt; font-family: Arial, sans-serif; line-height: normal; margin-top: 0; margin-bottom: 0; text-align: left; margin-right: 0pt; "><FONT>Societe Generale SA:</FONT></P>
                            </TD>
                            <TD style="background-color: #cceeff; border-top: 0pt; padding-top: 0pt; border-right: 0pt; border-left: 0pt; padding-left: 0pt; vertical-align: bottom; padding-bottom: 0pt; border-bottom: 0pt; padding-right: 0pt; ">
                                <P style="margin-left: 0pt; font-size: 1pt; line-height: 1pt; margin-top: 0pt; margin-bottom: 0; margin-right: 0pt; ">&#8203;</P>
                            </TD>
                            <TD style="background-color: #cceeff; border-top: 0pt; padding-top: 0pt; border-right: 0pt; border-left: 0pt; padding-left: 0pt; vertical-align: bottom; padding-bottom: 0pt; border-bottom: 0pt; padding-right: 0pt; ">
                                <P style="margin-left: 0pt; font-size: 1pt; line-height: 1pt; margin-top: 0pt; margin-bottom: 0; margin-right: 0pt; ">&#8203;</P>
                            </TD>
                        </TR>
                        <TR style="min-height: 3pt; ">
                            <TD style="border-top: 0pt; padding-top: 1pt; border-right: 0pt; border-left: 0pt; padding-left: 0pt; vertical-align: top; padding-bottom: 1pt; border-bottom: 0pt; padding-right: 0pt; ">
                                <P style="margin-left: 0pt; color: #000000; font-size: 9pt; font-family: Arial, sans-serif; line-height: normal; margin-top: 0; margin-bottom: 0; text-align: right; margin-right: 0pt; "><FONT style="float: left; "><FONT>$</FONT></FONT><FONT style="float: right; "><FONT>750,000</FONT></FONT><FONT style="font-size: 9pt; ">&#8203;</FONT>                                    <BR clear="all"></P>
                            </TD>
                            <TD style="border-top: 0pt; padding-top: 0pt; border-right: 0pt; border-left: 0pt; padding-left: 0pt; vertical-align: bottom; padding-bottom: 0pt; border-bottom: 0pt; padding-right: 0pt; ">
                                <P style="margin-left: 0pt; font-size: 1pt; line-height: 1pt; margin-top: 0pt; margin-bottom: 0; margin-right: 0pt; ">&#8203;</P>
                            </TD>
                            <TD style="border-top: 0pt; padding-top: 1pt; border-right: 0pt; border-left: 0pt; padding-left: 0pt; vertical-align: bottom; padding-bottom: 1pt; border-bottom: 0pt; padding-right: 0pt; ">
                                <P style="margin-left: 22.5pt; color: #000000; text-indent: -11.25pt; font-size: 9pt; font-family: Arial, sans-serif; line-height: normal; margin-top: 0; margin-bottom: 0; text-align: left; margin-right: 0pt; "><FONT>4.75% to 05/26/26 then T5Y + 3.931%, 144A**** </FONT></P>
                            </TD>
                            <TD style="border-top: 0pt; padding-top: 1pt; border-right: 0pt; border-left: 0pt; padding-left: 0pt; vertical-align: bottom; padding-bottom: 1pt; border-bottom: 0pt; padding-right: 0pt; ">
                                <P style="margin-left: 0pt; color: #000000; font-size: 9pt; font-family: Arial, sans-serif; line-height: normal; margin-top: 0; margin-bottom: 0; text-align: right; margin-right: 0pt; "><A name="pfd-nportex_083125a1363"></A><FONT>&#160;739,120</FONT></P>
                            </TD>
                            <TD style="border-top: 0pt; padding-top: 1pt; border-right: 0pt; border-left: 0pt; padding-left: 0pt; vertical-align: bottom; padding-bottom: 1pt; border-bottom: 0pt; padding-right: 0pt; ">
                                <P style="margin-left: 0pt; color: #000000; text-indent: 0pt; font-size: 9pt; font-family: Arial, sans-serif; line-height: normal; margin-top: 0; margin-bottom: 0; text-align: left; margin-right: 0pt; "><FONT>**</FONT><SUP style="font-size: 7.0pt; line-height: 7.0pt; ">(1)(2)(3)(5)</SUP><FONT>&#160;</FONT></P>
                            </TD>
                        </TR>
                        <TR style="min-height: 3pt; ">
                            <TD style="background-color: #cceeff; border-top: 0pt; padding-top: 1pt; border-right: 0pt; border-left: 0pt; padding-left: 0pt; vertical-align: top; padding-bottom: 1pt; border-bottom: 0pt; padding-right: 0pt; ">
                                <P style="margin-left: 0pt; color: #000000; font-size: 9pt; font-family: Arial, sans-serif; line-height: normal; margin-top: 0; margin-bottom: 0; text-align: right; margin-right: 0pt; "><FONT style="float: left; "><FONT>$</FONT></FONT><FONT style="float: right; "><FONT>750,000</FONT></FONT><FONT style="font-size: 9pt; ">&#8203;</FONT>                                    <BR clear="all"></P>
                            </TD>
                            <TD style="background-color: #cceeff; border-top: 0pt; padding-top: 0pt; border-right: 0pt; border-left: 0pt; padding-left: 0pt; vertical-align: bottom; padding-bottom: 0pt; border-bottom: 0pt; padding-right: 0pt; ">
                                <P style="margin-left: 0pt; font-size: 1pt; line-height: 1pt; margin-top: 0pt; margin-bottom: 0; margin-right: 0pt; ">&#8203;</P>
                            </TD>
                            <TD style="background-color: #cceeff; border-top: 0pt; padding-top: 1pt; border-right: 0pt; border-left: 0pt; padding-left: 0pt; vertical-align: bottom; padding-bottom: 1pt; border-bottom: 0pt; padding-right: 0pt; ">
                                <P style="margin-left: 22.5pt; color: #000000; text-indent: -11.25pt; font-size: 9pt; font-family: Arial, sans-serif; line-height: normal; margin-top: 0; margin-bottom: 0; text-align: left; margin-right: 0pt; "><FONT>5.375% to 11/18/30 then T5Y + 4.514%, 144A**** </FONT></P>
                            </TD>
                            <TD style="background-color: #cceeff; border-top: 0pt; padding-top: 1pt; border-right: 0pt; border-left: 0pt; padding-left: 0pt; vertical-align: bottom; padding-bottom: 1pt; border-bottom: 0pt; padding-right: 0pt; ">
                                <P style="margin-left: 0pt; color: #000000; font-size: 9pt; font-family: Arial, sans-serif; line-height: normal; margin-top: 0; margin-bottom: 0; text-align: right; margin-right: 0pt; "><A name="pfd-nportex_083125a1364"></A><FONT>&#160;691,334</FONT></P>
                            </TD>
                            <TD style="background-color: #cceeff; border-top: 0pt; padding-top: 1pt; border-right: 0pt; border-left: 0pt; padding-left: 0pt; vertical-align: bottom; padding-bottom: 1pt; border-bottom: 0pt; padding-right: 0pt; ">
                                <P style="margin-left: 0pt; color: #000000; text-indent: 0pt; font-size: 9pt; font-family: Arial, sans-serif; line-height: normal; margin-top: 0; margin-bottom: 0; text-align: left; margin-right: 0pt; "><FONT>**</FONT><SUP style="font-size: 7.0pt; line-height: 7.0pt; ">(1)(2)(3)(5)</SUP><FONT>&#160;</FONT></P>
                            </TD>
                        </TR>
                        <TR style="min-height: 3pt; ">
                            <TD style="border-top: 0pt; padding-top: 1pt; border-right: 0pt; border-left: 0pt; padding-left: 0pt; vertical-align: top; padding-bottom: 1pt; border-bottom: 0pt; padding-right: 0pt; ">
                                <P style="margin-left: 0pt; color: #000000; font-size: 9pt; font-family: Arial, sans-serif; line-height: normal; margin-top: 0; margin-bottom: 0; text-align: right; margin-right: 0pt; "><FONT style="float: left; "><FONT>$</FONT></FONT><FONT style="float: right; "><FONT>1,100,000</FONT></FONT><FONT style="font-size: 9pt; ">&#8203;</FONT>                                    <BR clear="all"></P>
                            </TD>
                            <TD style="border-top: 0pt; padding-top: 0pt; border-right: 0pt; border-left: 0pt; padding-left: 0pt; vertical-align: bottom; padding-bottom: 0pt; border-bottom: 0pt; padding-right: 0pt; ">
                                <P style="margin-left: 0pt; font-size: 1pt; line-height: 1pt; margin-top: 0pt; margin-bottom: 0; margin-right: 0pt; ">&#8203;</P>
                            </TD>
                            <TD style="border-top: 0pt; padding-top: 1pt; border-right: 0pt; border-left: 0pt; padding-left: 0pt; vertical-align: bottom; padding-bottom: 1pt; border-bottom: 0pt; padding-right: 0pt; ">
                                <P style="margin-left: 22.5pt; color: #000000; text-indent: -11.25pt; font-size: 9pt; font-family: Arial, sans-serif; line-height: normal; margin-top: 0; margin-bottom: 0; text-align: left; margin-right: 0pt; "><FONT>6.75% to 04/06/28 then SW5 + 3.929%, 144A**** </FONT></P>
                            </TD>
                            <TD style="border-top: 0pt; padding-top: 1pt; border-right: 0pt; border-left: 0pt; padding-left: 0pt; vertical-align: bottom; padding-bottom: 1pt; border-bottom: 0pt; padding-right: 0pt; ">
                                <P style="margin-left: 0pt; color: #000000; font-size: 9pt; font-family: Arial, sans-serif; line-height: normal; margin-top: 0; margin-bottom: 0; text-align: right; margin-right: 0pt; "><A name="pfd-nportex_083125a1365"></A><FONT>&#160;1,094,564</FONT></P>
                            </TD>
                            <TD style="border-top: 0pt; padding-top: 1pt; border-right: 0pt; border-left: 0pt; padding-left: 0pt; vertical-align: bottom; padding-bottom: 1pt; border-bottom: 0pt; padding-right: 0pt; ">
                                <P style="margin-left: 0pt; color: #000000; text-indent: 0pt; font-size: 9pt; font-family: Arial, sans-serif; line-height: normal; margin-top: 0; margin-bottom: 0; text-align: left; margin-right: 0pt; "><FONT>**</FONT><SUP style="font-size: 7.0pt; line-height: 7.0pt; ">(1)(2)(3)(5)</SUP><FONT>&#160;</FONT></P>
                            </TD>
                        </TR>
                        <TR style="min-height: 3pt; ">
                            <TD style="background-color: #cceeff; border-top: 0pt; padding-top: 1pt; border-right: 0pt; border-left: 0pt; padding-left: 0pt; vertical-align: top; padding-bottom: 1pt; border-bottom: 0pt; padding-right: 0pt; ">
                                <P style="margin-left: 0pt; color: #000000; font-size: 9pt; font-family: Arial, sans-serif; line-height: normal; margin-top: 0; margin-bottom: 0; text-align: right; margin-right: 0pt; "><FONT style="float: left; "><FONT>$</FONT></FONT><FONT style="float: right; "><FONT>3,230,000</FONT></FONT><FONT style="font-size: 9pt; ">&#8203;</FONT>                                    <BR clear="all"></P>
                            </TD>
                            <TD style="background-color: #cceeff; border-top: 0pt; padding-top: 0pt; border-right: 0pt; border-left: 0pt; padding-left: 0pt; vertical-align: bottom; padding-bottom: 0pt; border-bottom: 0pt; padding-right: 0pt; ">
                                <P style="margin-left: 0pt; font-size: 1pt; line-height: 1pt; margin-top: 0pt; margin-bottom: 0; margin-right: 0pt; ">&#8203;</P>
                            </TD>
                            <TD style="background-color: #cceeff; border-top: 0pt; padding-top: 1pt; border-right: 0pt; border-left: 0pt; padding-left: 0pt; vertical-align: bottom; padding-bottom: 1pt; border-bottom: 0pt; padding-right: 0pt; ">
                                <P style="margin-left: 22.5pt; color: #000000; text-indent: -11.25pt; font-size: 9pt; font-family: Arial, sans-serif; line-height: normal; margin-top: 0; margin-bottom: 0; text-align: left; margin-right: 0pt; "><FONT>9.375% to 05/22/28 then T5Y + 5.385%, 144A**** </FONT></P>
                            </TD>
                            <TD style="background-color: #cceeff; border-top: 0pt; padding-top: 1pt; border-right: 0pt; border-left: 0pt; padding-left: 0pt; vertical-align: bottom; padding-bottom: 1pt; border-bottom: 0pt; padding-right: 0pt; ">
                                <P style="margin-left: 0pt; color: #000000; font-size: 9pt; font-family: Arial, sans-serif; line-height: normal; margin-top: 0; margin-bottom: 0; text-align: right; margin-right: 0pt; "><A name="pfd-nportex_083125a1366"></A><FONT>&#160;3,455,971</FONT></P>
                            </TD>
                            <TD style="background-color: #cceeff; border-top: 0pt; padding-top: 1pt; border-right: 0pt; border-left: 0pt; padding-left: 0pt; vertical-align: bottom; padding-bottom: 1pt; border-bottom: 0pt; padding-right: 0pt; ">
                                <P style="margin-left: 0pt; color: #000000; text-indent: 0pt; font-size: 9pt; font-family: Arial, sans-serif; line-height: normal; margin-top: 0; margin-bottom: 0; text-align: left; margin-right: 0pt; "><FONT>**</FONT><SUP style="font-size: 7.0pt; line-height: 7.0pt; ">(1)(2)(3)(5)</SUP><FONT>&#160;</FONT></P>
                            </TD>
                        </TR>
                        <TR style="min-height: 3pt; ">
                            <TD style="border-top: 0pt; padding-top: 1pt; border-right: 0pt; border-left: 0pt; padding-left: 0pt; vertical-align: top; padding-bottom: 1pt; border-bottom: 0pt; padding-right: 0pt; ">
                                <P style="margin-left: 0pt; color: #000000; font-size: 9pt; font-family: Arial, sans-serif; line-height: normal; margin-top: 0; margin-bottom: 0; text-align: right; margin-right: 0pt; "><FONT>&#160;</FONT></P>
                            </TD>
                            <TD style="border-top: 0pt; padding-top: 0pt; border-right: 0pt; border-left: 0pt; padding-left: 0pt; vertical-align: bottom; padding-bottom: 0pt; border-bottom: 0pt; padding-right: 0pt; ">
                                <P style="margin-left: 0pt; font-size: 1pt; line-height: 1pt; margin-top: 0pt; margin-bottom: 0; margin-right: 0pt; ">&#8203;</P>
                            </TD>
                            <TD style="border-top: 0pt; padding-top: 1pt; border-right: 0pt; border-left: 0pt; padding-left: 0pt; vertical-align: bottom; padding-bottom: 1pt; border-bottom: 0pt; padding-right: 0pt; ">
                                <P style="margin-left: 11.25pt; color: #000000; text-indent: -11.25pt; font-size: 9pt; font-family: Arial, sans-serif; line-height: normal; margin-top: 0; margin-bottom: 0; text-align: left; margin-right: 0pt; "><FONT>Standard Chartered PLC:</FONT></P>
                            </TD>
                            <TD style="border-top: 0pt; padding-top: 0pt; border-right: 0pt; border-left: 0pt; padding-left: 0pt; vertical-align: bottom; padding-bottom: 0pt; border-bottom: 0pt; padding-right: 0pt; ">
                                <P style="margin-left: 0pt; font-size: 1pt; line-height: 1pt; margin-top: 0pt; margin-bottom: 0; margin-right: 0pt; ">&#8203;</P>
                            </TD>
                            <TD style="border-top: 0pt; padding-top: 0pt; border-right: 0pt; border-left: 0pt; padding-left: 0pt; vertical-align: bottom; padding-bottom: 0pt; border-bottom: 0pt; padding-right: 0pt; ">
                                <P style="margin-left: 0pt; font-size: 1pt; line-height: 1pt; margin-top: 0pt; margin-bottom: 0; margin-right: 0pt; ">&#8203;</P>
                            </TD>
                        </TR>
                        <TR style="min-height: 3pt; ">
                            <TD style="background-color: #cceeff; border-top: 0pt; padding-top: 1pt; border-right: 0pt; border-left: 0pt; padding-left: 0pt; vertical-align: top; padding-bottom: 1pt; border-bottom: 0pt; padding-right: 0pt; ">
                                <P style="margin-left: 0pt; color: #000000; font-size: 9pt; font-family: Arial, sans-serif; line-height: normal; margin-top: 0; margin-bottom: 0; text-align: right; margin-right: 0pt; "><FONT style="float: left; "><FONT>$</FONT></FONT><FONT style="float: right; "><FONT>350,000</FONT></FONT><FONT style="font-size: 9pt; ">&#8203;</FONT>                                    <BR clear="all"></P>
                            </TD>
                            <TD style="background-color: #cceeff; border-top: 0pt; padding-top: 0pt; border-right: 0pt; border-left: 0pt; padding-left: 0pt; vertical-align: bottom; padding-bottom: 0pt; border-bottom: 0pt; padding-right: 0pt; ">
                                <P style="margin-left: 0pt; font-size: 1pt; line-height: 1pt; margin-top: 0pt; margin-bottom: 0; margin-right: 0pt; ">&#8203;</P>
                            </TD>
                            <TD style="background-color: #cceeff; border-top: 0pt; padding-top: 1pt; border-right: 0pt; border-left: 0pt; padding-left: 0pt; vertical-align: bottom; padding-bottom: 1pt; border-bottom: 0pt; padding-right: 0pt; ">
                                <P style="margin-left: 22.5pt; color: #000000; text-indent: -11.25pt; font-size: 9pt; font-family: Arial, sans-serif; line-height: normal; margin-top: 0; margin-bottom: 0; text-align: left; margin-right: 0pt; "><FONT>4.75% to 07/14/31 then T5Y + 3.805%, 144A**** </FONT></P>
                            </TD>
                            <TD style="background-color: #cceeff; border-top: 0pt; padding-top: 1pt; border-right: 0pt; border-left: 0pt; padding-left: 0pt; vertical-align: bottom; padding-bottom: 1pt; border-bottom: 0pt; padding-right: 0pt; ">
                                <P style="margin-left: 0pt; color: #000000; font-size: 9pt; font-family: Arial, sans-serif; line-height: normal; margin-top: 0; margin-bottom: 0; text-align: right; margin-right: 0pt; "><A name="pfd-nportex_083125a1367"></A><FONT>&#160;323,537</FONT></P>
                            </TD>
                            <TD style="background-color: #cceeff; border-top: 0pt; padding-top: 1pt; border-right: 0pt; border-left: 0pt; padding-left: 0pt; vertical-align: bottom; padding-bottom: 1pt; border-bottom: 0pt; padding-right: 0pt; ">
                                <P style="margin-left: 0pt; color: #000000; text-indent: 0pt; font-size: 9pt; font-family: Arial, sans-serif; line-height: normal; margin-top: 0; margin-bottom: 0; text-align: left; margin-right: 0pt; "><FONT>**</FONT><SUP style="font-size: 7.0pt; line-height: 7.0pt; ">(1)(5)</SUP><FONT>&#160;</FONT></P>
                            </TD>
                        </TR>
                        <TR style="min-height: 3pt; ">
                            <TD style="border-top: 0pt; padding-top: 1pt; border-right: 0pt; border-left: 0pt; padding-left: 0pt; vertical-align: top; padding-bottom: 1pt; border-bottom: 0pt; padding-right: 0pt; ">
                                <P style="margin-left: 0pt; color: #000000; font-size: 9pt; font-family: Arial, sans-serif; line-height: normal; margin-top: 0; margin-bottom: 0; text-align: right; margin-right: 0pt; "><FONT style="float: left; "><FONT>$</FONT></FONT><FONT style="float: right; "><FONT>1,920,000</FONT></FONT><FONT style="font-size: 9pt; ">&#8203;</FONT>                                    <BR clear="all"></P>
                            </TD>
                            <TD style="border-top: 0pt; padding-top: 0pt; border-right: 0pt; border-left: 0pt; padding-left: 0pt; vertical-align: bottom; padding-bottom: 0pt; border-bottom: 0pt; padding-right: 0pt; ">
                                <P style="margin-left: 0pt; font-size: 1pt; line-height: 1pt; margin-top: 0pt; margin-bottom: 0; margin-right: 0pt; ">&#8203;</P>
                            </TD>
                            <TD style="border-top: 0pt; padding-top: 1pt; border-right: 0pt; border-left: 0pt; padding-left: 0pt; vertical-align: bottom; padding-bottom: 1pt; border-bottom: 0pt; padding-right: 0pt; ">
                                <P style="margin-left: 22.5pt; color: #000000; text-indent: -11.25pt; font-size: 9pt; font-family: Arial, sans-serif; line-height: normal; margin-top: 0; margin-bottom: 0; text-align: left; margin-right: 0pt; "><FONT>7.75% to 02/15/28 then T5Y + 4.976%, 144A**** </FONT></P>
                            </TD>
                            <TD style="border-top: 0pt; padding-top: 1pt; border-right: 0pt; border-left: 0pt; padding-left: 0pt; vertical-align: bottom; padding-bottom: 1pt; border-bottom: 0pt; padding-right: 0pt; ">
                                <P style="margin-left: 0pt; color: #000000; font-size: 9pt; font-family: Arial, sans-serif; line-height: normal; margin-top: 0; margin-bottom: 0; text-align: right; margin-right: 0pt; "><A name="pfd-nportex_083125a1368"></A><FONT>&#160;1,995,552</FONT></P>
                            </TD>
                            <TD style="border-top: 0pt; padding-top: 1pt; border-right: 0pt; border-left: 0pt; padding-left: 0pt; vertical-align: bottom; padding-bottom: 1pt; border-bottom: 0pt; padding-right: 0pt; ">
                                <P style="margin-left: 0pt; color: #000000; text-indent: 0pt; font-size: 9pt; font-family: Arial, sans-serif; line-height: normal; margin-top: 0; margin-bottom: 0; text-align: left; margin-right: 0pt; "><FONT>**</FONT><SUP style="font-size: 7.0pt; line-height: 7.0pt; ">(1)(2)(3)(5)</SUP><FONT>&#160;</FONT></P>
                            </TD>
                        </TR>
                        <TR style="min-height: 3pt; ">
                            <TD style="background-color: #cceeff; border-top: 0pt; padding-top: 1pt; border-right: 0pt; border-left: 0pt; padding-left: 0pt; vertical-align: top; padding-bottom: 1pt; border-bottom: 0pt; padding-right: 0pt; ">
                                <P style="margin-left: 0pt; color: #000000; font-size: 9pt; font-family: Arial, sans-serif; line-height: normal; margin-top: 0; margin-bottom: 0; text-align: right; margin-right: 0pt; "><FONT>&#160;</FONT></P>
                            </TD>
                            <TD style="background-color: #cceeff; border-top: 0pt; padding-top: 0pt; border-right: 0pt; border-left: 0pt; padding-left: 0pt; vertical-align: bottom; padding-bottom: 0pt; border-bottom: 0pt; padding-right: 0pt; ">
                                <P style="margin-left: 0pt; font-size: 1pt; line-height: 1pt; margin-top: 0pt; margin-bottom: 0; margin-right: 0pt; ">&#8203;</P>
                            </TD>
                            <TD style="background-color: #cceeff; border-top: 0pt; padding-top: 1pt; border-right: 0pt; border-left: 0pt; padding-left: 0pt; vertical-align: bottom; padding-bottom: 1pt; border-bottom: 0pt; padding-right: 0pt; ">
                                <P style="margin-left: 11.25pt; color: #000000; text-indent: -11.25pt; font-size: 9pt; font-family: Arial, sans-serif; line-height: normal; margin-top: 0; margin-bottom: 0; text-align: left; margin-right: 0pt; "><FONT>Toronto-Dominion Bank:</FONT></P>
                            </TD>
                            <TD style="background-color: #cceeff; border-top: 0pt; padding-top: 0pt; border-right: 0pt; border-left: 0pt; padding-left: 0pt; vertical-align: bottom; padding-bottom: 0pt; border-bottom: 0pt; padding-right: 0pt; ">
                                <P style="margin-left: 0pt; font-size: 1pt; line-height: 1pt; margin-top: 0pt; margin-bottom: 0; margin-right: 0pt; ">&#8203;</P>
                            </TD>
                            <TD style="background-color: #cceeff; border-top: 0pt; padding-top: 0pt; border-right: 0pt; border-left: 0pt; padding-left: 0pt; vertical-align: bottom; padding-bottom: 0pt; border-bottom: 0pt; padding-right: 0pt; ">
                                <P style="margin-left: 0pt; font-size: 1pt; line-height: 1pt; margin-top: 0pt; margin-bottom: 0; margin-right: 0pt; ">&#8203;</P>
                            </TD>
                        </TR>
                        <TR style="min-height: 3pt; ">
                            <TD style="border-top: 0pt; padding-top: 1pt; border-right: 0pt; border-left: 0pt; padding-left: 0pt; vertical-align: top; padding-bottom: 1pt; border-bottom: 0pt; padding-right: 0pt; ">
                                <P style="margin-left: 0pt; color: #000000; font-size: 9pt; font-family: Arial, sans-serif; line-height: normal; margin-top: 0; margin-bottom: 0; text-align: right; margin-right: 0pt; "><FONT style="float: left; "><FONT>$</FONT></FONT><FONT style="float: right; "><FONT>395,000</FONT></FONT><FONT style="font-size: 9pt; ">&#8203;</FONT>                                    <BR clear="all"></P>
                            </TD>
                            <TD style="border-top: 0pt; padding-top: 0pt; border-right: 0pt; border-left: 0pt; padding-left: 0pt; vertical-align: bottom; padding-bottom: 0pt; border-bottom: 0pt; padding-right: 0pt; ">
                                <P style="margin-left: 0pt; font-size: 1pt; line-height: 1pt; margin-top: 0pt; margin-bottom: 0; margin-right: 0pt; ">&#8203;</P>
                            </TD>
                            <TD style="border-top: 0pt; padding-top: 1pt; border-right: 0pt; border-left: 0pt; padding-left: 0pt; vertical-align: bottom; padding-bottom: 1pt; border-bottom: 0pt; padding-right: 0pt; ">
                                <P style="margin-left: 22.5pt; color: #000000; text-indent: -11.25pt; font-size: 9pt; font-family: Arial, sans-serif; line-height: normal; margin-top: 0; margin-bottom: 0; text-align: left; margin-right: 0pt; "><FONT>7.25% to 07/31/29 then T5Y + 2.977%, 07/31/84, Series 4 </FONT></P>
                            </TD>
                            <TD style="border-top: 0pt; padding-top: 1pt; border-right: 0pt; border-left: 0pt; padding-left: 0pt; vertical-align: bottom; padding-bottom: 1pt; border-bottom: 0pt; padding-right: 0pt; ">
                                <P style="margin-left: 0pt; color: #000000; font-size: 9pt; font-family: Arial, sans-serif; line-height: normal; margin-top: 0; margin-bottom: 0; text-align: right; margin-right: 0pt; "><A name="pfd-nportex_083125a1369"></A><FONT>&#160;411,347</FONT></P>
                            </TD>
                            <TD style="border-top: 0pt; padding-top: 1pt; border-right: 0pt; border-left: 0pt; padding-left: 0pt; vertical-align: bottom; padding-bottom: 1pt; border-bottom: 0pt; padding-right: 0pt; ">
                                <P style="margin-left: 0pt; color: #000000; text-indent: 0pt; font-size: 9pt; font-family: Arial, sans-serif; line-height: normal; margin-top: 0; margin-bottom: 0; text-align: left; margin-right: 0pt; "><FONT>**</FONT><SUP style="font-size: 7.0pt; line-height: 7.0pt; ">(5)</SUP><FONT>&#160;</FONT></P>
                            </TD>
                        </TR>
                        <TR style="min-height: 3pt; ">
                            <TD style="background-color: #cceeff; border-top: 0pt; padding-top: 1pt; border-right: 0pt; border-left: 0pt; padding-left: 0pt; vertical-align: top; padding-bottom: 1pt; border-bottom: 0pt; padding-right: 0pt; ">
                                <P style="margin-left: 0pt; color: #000000; font-size: 9pt; font-family: Arial, sans-serif; line-height: normal; margin-top: 0; margin-bottom: 0; text-align: right; margin-right: 0pt; "><FONT style="float: left; "><FONT>$</FONT></FONT><FONT style="float: right; "><FONT>400,000</FONT></FONT><FONT style="font-size: 9pt; ">&#8203;</FONT>                                    <BR clear="all"></P>
                            </TD>
                            <TD style="background-color: #cceeff; border-top: 0pt; padding-top: 0pt; border-right: 0pt; border-left: 0pt; padding-left: 0pt; vertical-align: bottom; padding-bottom: 0pt; border-bottom: 0pt; padding-right: 0pt; ">
                                <P style="margin-left: 0pt; font-size: 1pt; line-height: 1pt; margin-top: 0pt; margin-bottom: 0; margin-right: 0pt; ">&#8203;</P>
                            </TD>
                            <TD style="background-color: #cceeff; border-top: 0pt; padding-top: 1pt; border-right: 0pt; border-left: 0pt; padding-left: 0pt; vertical-align: bottom; padding-bottom: 1pt; border-bottom: 0pt; padding-right: 0pt; ">
                                <P style="margin-left: 22.5pt; color: #000000; text-indent: -11.25pt; font-size: 9pt; font-family: Arial, sans-serif; line-height: normal; margin-top: 0; margin-bottom: 0; text-align: left; margin-right: 0pt; "><FONT>8.125% to 10/31/27 then T5Y + 4.075%, 10/31/82, Series 3, 144A**** </FONT></P>
                            </TD>
                            <TD style="background-color: #cceeff; border-top: 0pt; padding-top: 1pt; border-right: 0pt; border-left: 0pt; padding-left: 0pt; vertical-align: bottom; padding-bottom: 1pt; border-bottom: 0pt; padding-right: 0pt; ">
                                <P style="margin-left: 0pt; color: #000000; font-size: 9pt; font-family: Arial, sans-serif; line-height: normal; margin-top: 0; margin-bottom: 0; text-align: right; margin-right: 0pt; "><A name="pfd-nportex_083125a1370"></A><FONT>&#160;422,256</FONT></P>
                            </TD>
                            <TD style="background-color: #cceeff; border-top: 0pt; padding-top: 1pt; border-right: 0pt; border-left: 0pt; padding-left: 0pt; vertical-align: bottom; padding-bottom: 1pt; border-bottom: 0pt; padding-right: 0pt; ">
                                <P style="margin-left: 0pt; color: #000000; text-indent: 0pt; font-size: 9pt; font-family: Arial, sans-serif; line-height: normal; margin-top: 0; margin-bottom: 0; text-align: left; margin-right: 0pt; "><FONT>**</FONT><SUP style="font-size: 7.0pt; line-height: 7.0pt; ">(5)</SUP><FONT>&#160;</FONT></P>
                            </TD>
                        </TR>
                        <TR style="min-height: 3pt; ">
                            <TD style="border-top: 0pt; padding-top: 1pt; border-right: 0pt; border-left: 0pt; padding-left: 0pt; vertical-align: top; padding-bottom: 1pt; border-bottom: 0pt; padding-right: 0pt; ">
                                <P style="margin-left: 0pt; color: #000000; font-size: 9pt; font-family: Arial, sans-serif; line-height: normal; margin-top: 0; margin-bottom: 0; text-align: right; margin-right: 0pt; "><FONT>&#160;</FONT></P>
                            </TD>
                            <TD style="border-top: 0pt; padding-top: 0pt; border-right: 0pt; border-left: 0pt; padding-left: 0pt; vertical-align: bottom; padding-bottom: 0pt; border-bottom: 0pt; padding-right: 0pt; ">
                                <P style="margin-left: 0pt; font-size: 1pt; line-height: 1pt; margin-top: 0pt; margin-bottom: 0; margin-right: 0pt; ">&#8203;</P>
                            </TD>
                            <TD style="border-top: 0pt; padding-top: 1pt; border-right: 0pt; border-left: 0pt; padding-left: 0pt; vertical-align: bottom; padding-bottom: 1pt; border-bottom: 0pt; padding-right: 0pt; ">
                                <P style="margin-left: 11.25pt; color: #000000; text-indent: -11.25pt; font-size: 9pt; font-family: Arial, sans-serif; line-height: normal; margin-top: 0; margin-bottom: 0; text-align: left; margin-right: 0pt; "><FONT>UBS Group AG:</FONT></P>
                            </TD>
                            <TD style="border-top: 0pt; padding-top: 0pt; border-right: 0pt; border-left: 0pt; padding-left: 0pt; vertical-align: bottom; padding-bottom: 0pt; border-bottom: 0pt; padding-right: 0pt; ">
                                <P style="margin-left: 0pt; font-size: 1pt; line-height: 1pt; margin-top: 0pt; margin-bottom: 0; margin-right: 0pt; ">&#8203;</P>
                            </TD>
                            <TD style="border-top: 0pt; padding-top: 0pt; border-right: 0pt; border-left: 0pt; padding-left: 0pt; vertical-align: bottom; padding-bottom: 0pt; border-bottom: 0pt; padding-right: 0pt; ">
                                <P style="margin-left: 0pt; font-size: 1pt; line-height: 1pt; margin-top: 0pt; margin-bottom: 0; margin-right: 0pt; ">&#8203;</P>
                            </TD>
                        </TR>
                        <TR style="min-height: 3pt; ">
                            <TD style="background-color: #cceeff; border-top: 0pt; padding-top: 1pt; border-right: 0pt; border-left: 0pt; padding-left: 0pt; vertical-align: top; padding-bottom: 1pt; border-bottom: 0pt; padding-right: 0pt; ">
                                <P style="margin-left: 0pt; color: #000000; font-size: 9pt; font-family: Arial, sans-serif; line-height: normal; margin-top: 0; margin-bottom: 0; text-align: right; margin-right: 0pt; "><FONT style="float: left; "><FONT>$</FONT></FONT><FONT style="float: right; "><FONT>500,000</FONT></FONT><FONT style="font-size: 9pt; ">&#8203;</FONT>                                    <BR clear="all"></P>
                            </TD>
                            <TD style="background-color: #cceeff; border-top: 0pt; padding-top: 0pt; border-right: 0pt; border-left: 0pt; padding-left: 0pt; vertical-align: bottom; padding-bottom: 0pt; border-bottom: 0pt; padding-right: 0pt; ">
                                <P style="margin-left: 0pt; font-size: 1pt; line-height: 1pt; margin-top: 0pt; margin-bottom: 0; margin-right: 0pt; ">&#8203;</P>
                            </TD>
                            <TD style="background-color: #cceeff; border-top: 0pt; padding-top: 1pt; border-right: 0pt; border-left: 0pt; padding-left: 0pt; vertical-align: bottom; padding-bottom: 1pt; border-bottom: 0pt; padding-right: 0pt; ">
                                <P style="margin-left: 22.5pt; color: #000000; text-indent: -11.25pt; font-size: 9pt; font-family: Arial, sans-serif; line-height: normal; margin-top: 0; margin-bottom: 0; text-align: left; margin-right: 0pt; "><FONT>4.375% to 02/10/31 then T5Y + 3.313%, 144A**** </FONT></P>
                            </TD>
                            <TD style="background-color: #cceeff; border-top: 0pt; padding-top: 1pt; border-right: 0pt; border-left: 0pt; padding-left: 0pt; vertical-align: bottom; padding-bottom: 1pt; border-bottom: 0pt; padding-right: 0pt; ">
                                <P style="margin-left: 0pt; color: #000000; font-size: 9pt; font-family: Arial, sans-serif; line-height: normal; margin-top: 0; margin-bottom: 0; text-align: right; margin-right: 0pt; "><A name="pfd-nportex_083125a1371"></A><FONT>&#160;449,548</FONT></P>
                            </TD>
                            <TD style="background-color: #cceeff; border-top: 0pt; padding-top: 1pt; border-right: 0pt; border-left: 0pt; padding-left: 0pt; vertical-align: bottom; padding-bottom: 1pt; border-bottom: 0pt; padding-right: 0pt; ">
                                <P style="margin-left: 0pt; color: #000000; text-indent: 0pt; font-size: 9pt; font-family: Arial, sans-serif; line-height: normal; margin-top: 0; margin-bottom: 0; text-align: left; margin-right: 0pt; "><FONT>**</FONT><SUP style="font-size: 7.0pt; line-height: 7.0pt; ">(1)(5)</SUP><FONT>&#160;</FONT></P>
                            </TD>
                        </TR>
                        <TR style="min-height: 3pt; ">
                            <TD style="border-top: 0pt; padding-top: 1pt; border-right: 0pt; border-left: 0pt; padding-left: 0pt; vertical-align: top; padding-bottom: 1pt; border-bottom: 0pt; padding-right: 0pt; ">
                                <P style="margin-left: 0pt; color: #000000; font-size: 9pt; font-family: Arial, sans-serif; line-height: normal; margin-top: 0; margin-bottom: 0; text-align: right; margin-right: 0pt; "><FONT style="float: left; "><FONT>$</FONT></FONT><FONT style="float: right; "><FONT>2,700,000</FONT></FONT><FONT style="font-size: 9pt; ">&#8203;</FONT>                                    <BR clear="all"></P>
                            </TD>
                            <TD style="border-top: 0pt; padding-top: 0pt; border-right: 0pt; border-left: 0pt; padding-left: 0pt; vertical-align: bottom; padding-bottom: 0pt; border-bottom: 0pt; padding-right: 0pt; ">
                                <P style="margin-left: 0pt; font-size: 1pt; line-height: 1pt; margin-top: 0pt; margin-bottom: 0; margin-right: 0pt; ">&#8203;</P>
                            </TD>
                            <TD style="border-top: 0pt; padding-top: 1pt; border-right: 0pt; border-left: 0pt; padding-left: 0pt; vertical-align: bottom; padding-bottom: 1pt; border-bottom: 0pt; padding-right: 0pt; ">
                                <P style="margin-left: 22.5pt; color: #000000; text-indent: -11.25pt; font-size: 9pt; font-family: Arial, sans-serif; line-height: normal; margin-top: 0; margin-bottom: 0; text-align: left; margin-right: 0pt; "><FONT>4.875% to 02/12/27 then T5Y + 3.404%, 144A**** </FONT></P>
                            </TD>
                            <TD style="border-top: 0pt; padding-top: 1pt; border-right: 0pt; border-left: 0pt; padding-left: 0pt; vertical-align: bottom; padding-bottom: 1pt; border-bottom: 0pt; padding-right: 0pt; ">
                                <P style="margin-left: 0pt; color: #000000; font-size: 9pt; font-family: Arial, sans-serif; line-height: normal; margin-top: 0; margin-bottom: 0; text-align: right; margin-right: 0pt; "><A name="pfd-nportex_083125a1372"></A><FONT>&#160;2,662,849</FONT></P>
                            </TD>
                            <TD style="border-top: 0pt; padding-top: 1pt; border-right: 0pt; border-left: 0pt; padding-left: 0pt; vertical-align: bottom; padding-bottom: 1pt; border-bottom: 0pt; padding-right: 0pt; ">
                                <P style="margin-left: 0pt; color: #000000; text-indent: 0pt; font-size: 9pt; font-family: Arial, sans-serif; line-height: normal; margin-top: 0; margin-bottom: 0; text-align: left; margin-right: 0pt; "><FONT>**</FONT><SUP style="font-size: 7.0pt; line-height: 7.0pt; ">(1)(2)(3)(5)</SUP><FONT>&#160;</FONT></P>
                            </TD>
                        </TR>
                        <TR style="min-height: 3pt; ">
                            <TD style="background-color: #cceeff; border-top: 0pt; padding-top: 1pt; border-right: 0pt; border-left: 0pt; padding-left: 0pt; vertical-align: top; padding-bottom: 1pt; border-bottom: 0.5pt solid #000000; padding-right: 0pt; ">
                                <P style="margin-left: 0pt; color: #000000; font-size: 9pt; font-family: Arial, sans-serif; line-height: normal; margin-top: 0; margin-bottom: 0; text-align: right; margin-right: 0pt; "><FONT style="float: left; "><FONT>$</FONT></FONT><FONT style="float: right; "><FONT>200,000</FONT></FONT><FONT style="font-size: 9pt; ">&#8203;</FONT>                                    <BR clear="all"></P>
                            </TD>
                            <TD style="background-color: #cceeff; border-top: 0pt; padding-top: 0pt; border-right: 0pt; border-left: 0pt; padding-left: 0pt; vertical-align: bottom; padding-bottom: 0pt; border-bottom: 0.5pt solid #000000; padding-right: 0pt; ">
                                <P style="margin-left: 0pt; font-size: 1pt; line-height: 1pt; margin-top: 0pt; margin-bottom: 0; margin-right: 0pt; ">&#8203;</P>
                            </TD>
                            <TD style="background-color: #cceeff; border-top: 0pt; padding-top: 1pt; border-right: 0pt; border-left: 0pt; padding-left: 0pt; vertical-align: bottom; padding-bottom: 1pt; border-bottom: 0.5pt solid #000000; padding-right: 0pt; ">
                                <P style="margin-left: 22.5pt; color: #000000; text-indent: -11.25pt; font-size: 9pt; font-family: Arial, sans-serif; line-height: normal; margin-top: 0; margin-bottom: 0; text-align: left; margin-right: 0pt; "><FONT>9.25% to 11/13/33 then T5Y + 4.758%, 144A**** </FONT></P>
                            </TD>
                            <TD style="background-color: #cceeff; border-top: 0pt; padding-top: 1pt; border-right: 0pt; border-left: 0pt; padding-left: 0pt; vertical-align: bottom; padding-bottom: 1pt; border-bottom: 0.5pt solid #000000; padding-right: 0pt; ">
                                <P style="margin-left: 0pt; color: #000000; font-size: 9pt; font-family: Arial, sans-serif; line-height: normal; margin-top: 0; margin-bottom: 0; text-align: right; margin-right: 0pt; "><A name="pfd-nportex_083125a1373"></A><FONT>&#160;235,378</FONT></P>
                            </TD>
                            <TD style="background-color: #cceeff; border-top: 0pt; padding-top: 1pt; border-right: 0pt; border-left: 0pt; padding-left: 0pt; vertical-align: bottom; padding-bottom: 1pt; border-bottom: 0pt; padding-right: 0pt; ">
                                <P style="margin-left: 0pt; color: #000000; text-indent: 0pt; font-size: 9pt; font-family: Arial, sans-serif; line-height: normal; margin-top: 0; margin-bottom: 0; text-align: left; margin-right: 0pt; "><FONT>**</FONT><SUP style="font-size: 7.0pt; line-height: 7.0pt; ">(1)(5)</SUP><FONT>&#160;</FONT></P>
                            </TD>
                        </TR>
                        <TR style="min-height: 3pt; ">
                            <TD style="border-top: 0.5pt solid #000000; padding-top: 1pt; border-right: 0pt; border-left: 0pt; padding-left: 0pt; vertical-align: top; padding-bottom: 1pt; border-bottom: 0pt; padding-right: 0pt; ">
                                <P style="margin-left: 0pt; color: #000000; font-size: 9pt; font-family: Arial, sans-serif; line-height: normal; margin-top: 0; margin-bottom: 0; text-align: right; margin-right: 0pt; "><FONT>&#160;</FONT></P>
                            </TD>
                            <TD style="border-top: 0.5pt solid #000000; padding-top: 0pt; border-right: 0pt; border-left: 0pt; padding-left: 0pt; vertical-align: bottom; padding-bottom: 0pt; border-bottom: 0pt; padding-right: 0pt; ">
                                <P style="margin-left: 0pt; font-size: 1pt; line-height: 1pt; margin-top: 0pt; margin-bottom: 0; margin-right: 0pt; ">&#8203;</P>
                            </TD>
                            <TD style="border-top: 0.5pt solid #000000; padding-top: 0pt; border-right: 0pt; border-left: 0pt; padding-left: 0pt; vertical-align: bottom; padding-bottom: 0pt; border-bottom: 0pt; padding-right: 0pt; ">
                                <P style="margin-left: 0pt; font-size: 1pt; line-height: 1pt; margin-top: 0pt; margin-bottom: 0; margin-right: 0pt; ">&#8203;</P>
                            </TD>
                            <TD style="border-top: 0.5pt solid #000000; padding-top: 1pt; border-right: 0pt; border-left: 0pt; padding-left: 0pt; vertical-align: bottom; padding-bottom: 1pt; border-bottom: 0.5pt solid #000000; padding-right: 0pt; ">
                                <P style="margin-left: 0pt; color: #000000; font-size: 9pt; font-family: Arial, sans-serif; line-height: normal; margin-top: 0; margin-bottom: 0; text-align: right; margin-right: 0pt; "><A name="pfd-nportex_083125a1374"></A><FONT>&#160;51,932,769</FONT></P>
                            </TD>
                            <TD style="border-top: 0pt; padding-top: 0pt; border-right: 0pt; border-left: 0pt; padding-left: 0pt; vertical-align: bottom; padding-bottom: 0pt; border-bottom: 0pt; padding-right: 0pt; ">
                                <P style="margin-left: 0pt; font-size: 1pt; line-height: 1pt; margin-top: 0pt; margin-bottom: 0; margin-right: 0pt; ">&#8203;</P>
                            </TD>
                        </TR>
                        <TR style="min-height: 3pt; ">
                            <TD style="background-color: #cceeff; border-top: 0pt; padding-top: 1pt; border-right: 0pt; border-left: 0pt; padding-left: 0pt; vertical-align: top; padding-bottom: 1pt; border-bottom: 0pt; padding-right: 0pt; ">
                                <P style="margin-left: 0pt; color: #000000; font-size: 9pt; font-family: Arial, sans-serif; line-height: normal; margin-top: 0; margin-bottom: 0; text-align: right; margin-right: 0pt; "><FONT>&#160;</FONT></P>
                            </TD>
                            <TD style="background-color: #cceeff; border-top: 0pt; padding-top: 0pt; border-right: 0pt; border-left: 0pt; padding-left: 0pt; vertical-align: bottom; padding-bottom: 0pt; border-bottom: 0pt; padding-right: 0pt; ">
                                <P style="margin-left: 0pt; font-size: 1pt; line-height: 1pt; margin-top: 0pt; margin-bottom: 0; margin-right: 0pt; ">&#8203;</P>
                            </TD>
                            <TD style="background-color: #cceeff; border-top: 0pt; padding-top: 1pt; border-right: 0pt; border-left: 0pt; padding-left: 0pt; vertical-align: bottom; padding-bottom: 1pt; border-bottom: 0pt; padding-right: 0pt; ">
                                <P style="margin-left: 11.25pt; color: #000000; text-indent: -11.25pt; font-size: 9pt; font-family: Arial, sans-serif; line-height: normal; margin-top: 0; margin-bottom: 0; text-align: left; margin-right: 0pt; "><FONT style="font-weight: bold; "><B>Total Contingent Capital Securities<br></B></FONT><FONT>(Cost $50,705,688) </FONT></P>
                            </TD>
                            <TD style="background-color: #cceeff; border-top: 0.5pt solid #000000; padding-top: 1pt; border-right: 0pt; border-left: 0pt; padding-left: 0pt; vertical-align: bottom; padding-bottom: 1pt; border-bottom: 0.5pt solid #000000; padding-right: 0pt; ">
                                <P style="margin-left: 0pt; color: #000000; font-size: 9pt; font-family: Arial, sans-serif; line-height: normal; margin-top: 0; margin-bottom: 0; text-align: right; margin-right: 0pt; "><A name="pfd-nportex_083125a1375"></A><FONT>&#160;51,932,769</FONT></P>
                            </TD>
                            <TD style="background-color: #cceeff; border-top: 0pt; padding-top: 0pt; border-right: 0pt; border-left: 0pt; padding-left: 0pt; vertical-align: bottom; padding-bottom: 0pt; border-bottom: 0pt; padding-right: 0pt; ">
                                <P style="margin-left: 0pt; font-size: 1pt; line-height: 1pt; margin-top: 0pt; margin-bottom: 0; margin-right: 0pt; ">&#8203;</P>
                            </TD>
                        </TR>
                        <TR style="min-height: 3pt; ">
                            <TD style="border-top: 0pt; padding-top: 1pt; border-right: 0pt; border-left: 0pt; padding-left: 0pt; vertical-align: top; padding-bottom: 1pt; border-bottom: 0pt; padding-right: 0pt; ">
                                <P style="margin-left: 0pt; color: #000000; font-size: 9pt; font-family: Arial, sans-serif; line-height: normal; margin-top: 0; margin-bottom: 0; text-align: right; margin-right: 0pt; "><FONT>&#160;</FONT></P>
                            </TD>
                            <TD style="border-top: 0pt; padding-top: 0pt; border-right: 0pt; border-left: 0pt; padding-left: 0pt; vertical-align: bottom; padding-bottom: 0pt; border-bottom: 0pt; padding-right: 0pt; ">
                                <P style="margin-left: 0pt; font-size: 1pt; line-height: 1pt; margin-top: 0pt; margin-bottom: 0; margin-right: 0pt; ">&#8203;</P>
                            </TD>
                            <TD style="border-top: 0pt; padding-top: 0pt; border-right: 0pt; border-left: 0pt; padding-left: 0pt; vertical-align: bottom; padding-bottom: 0pt; border-bottom: 0pt; padding-right: 0pt; ">
                                <P style="margin-left: 0pt; font-size: 1pt; line-height: 1pt; margin-top: 0pt; margin-bottom: 0; margin-right: 0pt; ">&#8203;</P>
                            </TD>
                            <TD style="border-top: 0.5pt solid #000000; padding-top: 0pt; border-right: 0pt; border-left: 0pt; padding-left: 0pt; vertical-align: bottom; padding-bottom: 0pt; border-bottom: 0pt; padding-right: 0pt; ">
                                <P style="margin-left: 0pt; font-size: 1pt; line-height: 1pt; margin-top: 0pt; margin-bottom: 0; margin-right: 0pt; ">&#8203;</P>
                            </TD>
                            <TD style="border-top: 0pt; padding-top: 0pt; border-right: 0pt; border-left: 0pt; padding-left: 0pt; vertical-align: bottom; padding-bottom: 0pt; border-bottom: 0pt; padding-right: 0pt; ">
                                <P style="margin-left: 0pt; font-size: 1pt; line-height: 1pt; margin-top: 0pt; margin-bottom: 0; margin-right: 0pt; ">&#8203;</P>
                            </TD>
                        </TR>
                        <TR style="min-height: 3pt; ">
                            <TD colspan="3" style="background-color: #cceeff; border-top: 0pt; padding-top: 1pt; border-right: 0pt; border-left: 0pt; padding-left: 0pt; vertical-align: top; padding-bottom: 1pt; border-bottom: 0pt; padding-right: 0pt; ">
                                <P style="margin-left: 0pt; color: #000000; text-indent: 0pt; font-size: 9pt; font-family: Arial, sans-serif; line-height: normal; margin-top: 0; margin-bottom: 0; text-align: left; margin-right: 0pt; "><FONT style="font-weight: bold; "><B>Corporate Debt Securities</B></FONT><SUP style="font-size: 7.0pt; line-height: 7.0pt; font-weight: bold; "><B>&#167;</B></SUP><FONT style="font-weight: bold; "><B> &#8212; 1.6%</B></FONT></P>
                            </TD>
                            <TD style="background-color: #cceeff; border-top: 0pt; padding-top: 0pt; border-right: 0pt; border-left: 0pt; padding-left: 0pt; vertical-align: bottom; padding-bottom: 0pt; border-bottom: 0pt; padding-right: 0pt; ">
                                <P style="margin-left: 0pt; font-size: 1pt; line-height: 1pt; margin-top: 0pt; margin-bottom: 0; margin-right: 0pt; ">&#8203;</P>
                            </TD>
                            <TD style="background-color: #cceeff; border-top: 0pt; padding-top: 0pt; border-right: 0pt; border-left: 0pt; padding-left: 0pt; vertical-align: bottom; padding-bottom: 0pt; border-bottom: 0pt; padding-right: 0pt; ">
                                <P style="margin-left: 0pt; font-size: 1pt; line-height: 1pt; margin-top: 0pt; margin-bottom: 0; margin-right: 0pt; ">&#8203;</P>
                            </TD>
                        </TR>
                        <TR style="min-height: 3pt; ">
                            <TD style="border-top: 0pt; padding-top: 1pt; border-right: 0pt; border-left: 0pt; padding-left: 0pt; vertical-align: top; padding-bottom: 1pt; border-bottom: 0.5pt solid #000000; padding-right: 0pt; ">
                                <P style="margin-left: 0pt; color: #000000; font-size: 9pt; font-family: Arial, sans-serif; line-height: normal; margin-top: 0; margin-bottom: 0; text-align: right; margin-right: 0pt; "><FONT>&#160;</FONT></P>
                            </TD>
                            <TD style="border-top: 0pt; padding-top: 0pt; border-right: 0pt; border-left: 0pt; padding-left: 0pt; vertical-align: bottom; padding-bottom: 0pt; border-bottom: 0.5pt solid #000000; padding-right: 0pt; ">
                                <P style="margin-left: 0pt; font-size: 1pt; line-height: 1pt; margin-top: 0pt; margin-bottom: 0; margin-right: 0pt; ">&#8203;</P>
                            </TD>
                            <TD style="border-top: 0pt; padding-top: 1pt; border-right: 0pt; border-left: 0pt; padding-left: 0pt; vertical-align: bottom; padding-bottom: 1pt; border-bottom: 0.5pt solid #000000; padding-right: 0pt; ">
                                <P style="margin-left: 0pt; color: #000000; text-indent: 0pt; font-size: 9pt; font-family: Arial, sans-serif; line-height: normal; margin-top: 0; margin-bottom: 0; text-align: left; margin-right: 0pt; "><FONT style="font-weight: bold; "><B>Banking &#8212; 0.2%</B></FONT></P>
                            </TD>
                            <TD style="border-top: 0pt; padding-top: 0pt; border-right: 0pt; border-left: 0pt; padding-left: 0pt; vertical-align: bottom; padding-bottom: 0pt; border-bottom: 0.5pt solid #000000; padding-right: 0pt; ">
                                <P style="margin-left: 0pt; font-size: 1pt; line-height: 1pt; margin-top: 0pt; margin-bottom: 0; margin-right: 0pt; ">&#8203;</P>
                            </TD>
                            <TD style="border-top: 0pt; padding-top: 0pt; border-right: 0pt; border-left: 0pt; padding-left: 0pt; vertical-align: bottom; padding-bottom: 0pt; border-bottom: 0pt; padding-right: 0pt; ">
                                <P style="margin-left: 0pt; font-size: 1pt; line-height: 1pt; margin-top: 0pt; margin-bottom: 0; margin-right: 0pt; ">&#8203;</P>
                            </TD>
                        </TR>
                        <TR style="min-height: 3pt; ">
                            <TD style="background-color: #cceeff; border-top: 0.5pt solid #000000; padding-top: 1pt; border-right: 0pt; border-left: 0pt; padding-left: 0pt; vertical-align: top; padding-bottom: 1pt; border-bottom: 0.5pt solid #000000; padding-right: 0pt; ">
                                <P style="margin-left: 0pt; color: #000000; font-size: 9pt; font-family: Arial, sans-serif; line-height: normal; margin-top: 0; margin-bottom: 0; text-align: right; margin-right: 0pt; "><FONT>15,800</FONT></P>
                            </TD>
                            <TD style="background-color: #cceeff; border-top: 0.5pt solid #000000; padding-top: 0pt; border-right: 0pt; border-left: 0pt; padding-left: 0pt; vertical-align: bottom; padding-bottom: 0pt; border-bottom: 0.5pt solid #000000; padding-right: 0pt; ">
                                <P style="margin-left: 0pt; font-size: 1pt; line-height: 1pt; margin-top: 0pt; margin-bottom: 0; margin-right: 0pt; ">&#8203;</P>
                            </TD>
                            <TD style="background-color: #cceeff; border-top: 0.5pt solid #000000; padding-top: 1pt; border-right: 0pt; border-left: 0pt; padding-left: 0pt; vertical-align: bottom; padding-bottom: 1pt; border-bottom: 0.5pt solid #000000; padding-right: 0pt; ">
                                <P style="margin-left: 22.5pt; color: #000000; text-indent: -11.25pt; font-size: 9pt; font-family: Arial, sans-serif; line-height: normal; margin-top: 0; margin-bottom: 0; text-align: left; margin-right: 0pt; "><FONT>Dime Community Bancshares, Inc., 9.00% to 07/15/29 then <br>TSFR3M + 4.951%, 07/15/34 </FONT></P>
                            </TD>
                            <TD style="background-color: #cceeff; border-top: 0.5pt solid #000000; padding-top: 1pt; border-right: 0pt; border-left: 0pt; padding-left: 0pt; vertical-align: bottom; padding-bottom: 1pt; border-bottom: 0.5pt solid #000000; padding-right: 0pt; ">
                                <P style="margin-left: 0pt; color: #000000; font-size: 9pt; font-family: Arial, sans-serif; line-height: normal; margin-top: 0; margin-bottom: 0; text-align: right; margin-right: 0pt; "><A name="pfd-nportex_083125a1376"></A><FONT>&#160;415,382</FONT></P>
                            </TD>
                            <TD style="background-color: #cceeff; border-top: 0pt; padding-top: 0pt; border-right: 0pt; border-left: 0pt; padding-left: 0pt; vertical-align: bottom; padding-bottom: 0pt; border-bottom: 0pt; padding-right: 0pt; ">
                                <P style="margin-left: 0pt; font-size: 1pt; line-height: 1pt; margin-top: 0pt; margin-bottom: 0; margin-right: 0pt; ">&#8203;</P>
                            </TD>
                        </TR>
                        <TR style="min-height: 3pt; ">
                            <TD style="border-top: 0.5pt solid #000000; padding-top: 1pt; border-right: 0pt; border-left: 0pt; padding-left: 0pt; vertical-align: top; padding-bottom: 1pt; border-bottom: 0pt; padding-right: 0pt; ">
                                <P style="margin-left: 0pt; color: #000000; font-size: 9pt; font-family: Arial, sans-serif; line-height: normal; margin-top: 0; margin-bottom: 0; text-align: right; margin-right: 0pt; "><FONT>&#160;</FONT></P>
                            </TD>
                            <TD style="border-top: 0.5pt solid #000000; padding-top: 0pt; border-right: 0pt; border-left: 0pt; padding-left: 0pt; vertical-align: bottom; padding-bottom: 0pt; border-bottom: 0pt; padding-right: 0pt; ">
                                <P style="margin-left: 0pt; font-size: 1pt; line-height: 1pt; margin-top: 0pt; margin-bottom: 0; margin-right: 0pt; ">&#8203;</P>
                            </TD>
                            <TD style="border-top: 0.5pt solid #000000; padding-top: 0pt; border-right: 0pt; border-left: 0pt; padding-left: 0pt; vertical-align: bottom; padding-bottom: 0pt; border-bottom: 0pt; padding-right: 0pt; ">
                                <P style="margin-left: 0pt; font-size: 1pt; line-height: 1pt; margin-top: 0pt; margin-bottom: 0; margin-right: 0pt; ">&#8203;</P>
                            </TD>
                            <TD style="border-top: 0.5pt solid #000000; padding-top: 1pt; border-right: 0pt; border-left: 0pt; padding-left: 0pt; vertical-align: bottom; padding-bottom: 1pt; border-bottom: 0.5pt solid #000000; padding-right: 0pt; ">
                                <P style="margin-left: 0pt; color: #000000; font-size: 9pt; font-family: Arial, sans-serif; line-height: normal; margin-top: 0; margin-bottom: 0; text-align: right; margin-right: 0pt; "><A name="pfd-nportex_083125a1377"></A><FONT>&#160;415,382</FONT></P>
                            </TD>
                            <TD style="border-top: 0pt; padding-top: 0pt; border-right: 0pt; border-left: 0pt; padding-left: 0pt; vertical-align: bottom; padding-bottom: 0pt; border-bottom: 0pt; padding-right: 0pt; ">
                                <P style="margin-left: 0pt; font-size: 1pt; line-height: 1pt; margin-top: 0; margin-bottom: 0; margin-right: 0pt; ">&#8203;</P>
                            </TD>
                        </TR>
                    </TABLE>
                </DIV>
            </DIV>
        </DIV>
        <DIV style="page-break-before: always; ">
            <P style="font-size: 5pt; margin: 0pt; ">&#8203;</P>
        </DIV>
        <DIV style="margin: auto; overflow: hidden; width: 675.0pt; position: relative; border-bottom: 2pt solid black; height: 765.0pt; ">
            <DIV style="border: 0pt; padding-top: 0pt; top: 697.5pt; left: 33.75pt; padding-left: 0pt; width: 607.5pt; padding-bottom: 0pt; position: absolute; padding-right: 0pt; height: 33.75pt; ">
                <DIV style="vertical-align: bottom; width: 607.5pt; display: table-cell; height: 33.75pt; ">
                    <!-- [if IE]><TABLE><TR style=" width: 607.5pt; height: 33.75pt;"><TD vAlign="bottom" style=" width: 607.5pt; height: 33.75pt;"><![endif]-->
                    <P style="margin-left: 0pt; color: #000000; text-indent: 0pt; font-size: 12pt; font-family: Times New Roman, Times, serif; margin-top: 0pt; margin-bottom: 0pt; text-align: center; margin-right: 0pt; "><FONT style="font-size: 8pt; font-family: Arial, sans-serif; "> <br></FONT><FONT style="font-size: 10pt; font-family: Arial, sans-serif; ">10</FONT></P>
                    <!-- [if IE]></TD></TR></TABLE><![endif]-->
                </DIV>
            </DIV>
            <DIV style="border: 0pt; padding-top: 0pt; top: 33.75pt; left: 33.75pt; padding-left: 0pt; width: 607.5pt; padding-bottom: 0pt; position: absolute; padding-right: 0pt; height: 86.25pt; ">
                <P style="border-top: 1pt solid ; color: #000000; font-size: 12pt; margin-right: 0pt; margin-left: 0pt; text-indent: 0pt; font-family: Times New Roman, Times, serif; margin-top: 0pt; margin-bottom: 0pt; "><FONT style="font-size: 8pt; font-family: Arial, sans-serif; ">&#160;</FONT></P>
                <P style="margin-left: 0pt; color: #000000; text-indent: 0pt; font-size: 12pt; font-family: Times New Roman, Times, serif; margin-top: 0pt; margin-bottom: 0pt; margin-right: 0pt; "><FONT style="font-size: 8pt; font-family: Arial, sans-serif; ">Flaherty &amp; Crumrine Preferred and Income Fund Incorporated</FONT></P>
                <P style="margin-left: 0pt; color: #000000; text-indent: 0pt; font-size: 12pt; font-family: Times New Roman, Times, serif; margin-top: 0pt; margin-bottom: 0pt; margin-right: 0pt; "><FONT style="font-family: Arial, sans-serif; ">PORTFOLIO OF INVESTMENTS (Continued)</FONT></P>
                <P style="margin-left: 0pt; color: #000000; text-indent: 0pt; font-size: 12pt; font-family: Times New Roman, Times, serif; margin-top: 0pt; margin-bottom: 0pt; margin-right: 0pt; "><FONT style="font-size: 10pt; font-family: Arial, sans-serif; ">August 31, 2025&#160;(Unaudited)</FONT></P>
                <P style="color: #000000; font-size: 12pt; border-bottom: 1pt solid ; margin-right: 0pt; margin-left: 0pt; text-indent: 0pt; font-family: Times New Roman, Times, serif; margin-top: 0pt; margin-bottom: 0pt; "><FONT style="font-size: 8pt; font-family: Arial, sans-serif; ">&#160;</FONT></P>
            </DIV>
            <DIV style="border: 0pt; padding-top: 0pt; top: 120pt; left: 33.75pt; padding-left: 0pt; width: 607.5pt; padding-bottom: 0pt; position: absolute; padding-right: 0pt; height: 577.5pt; ">
                <DIV style="margin-left: 0pt; color: #000000; font-size: 9pt; font-family: Arial, sans-serif; line-height: 11pt; margin-top: 0pt; margin-bottom: 0pt; text-align: justify; margin-right: 0pt; ">
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                        <TR style="margin: 0; height: 0; ">
                            <TD style="border: 0; width: 68.75pt; padding: 0; margin: 0; ">
                            </TD>
                            <TD style="border: 0; width: 15.0pt; padding: 0; margin: 0; ">
                            </TD>
                            <TD style="border: 0; width: 412.5pt; padding: 0; margin: 0; ">
                            </TD>
                            <TD style="border: 0; width: 82.5pt; padding: 0; margin: 0; ">
                            </TD>
                            <TD style="border: 0; width: 45.0pt; padding: 0; margin: 0; ">
                            </TD>
                        </TR>
                        <TR style="min-height: 3pt; ">
                            <TD style="border-top: 0pt; padding-top: 1pt; border-right: 0pt; border-left: 0pt; padding-left: 0pt; vertical-align: bottom; padding-bottom: 1pt; border-bottom: 0.5pt solid #000000; padding-right: 0pt; ">
                                <P style="margin-left: 0pt; color: #000000; text-indent: 0pt; font-size: 8pt; font-family: Arial, sans-serif; line-height: normal; margin-top: 0; margin-bottom: 0; text-align: center; margin-right: 0pt; "><FONT style="font-weight: bold; "><B>Shares/$ Par</B></FONT></P>
                            </TD>
                            <TD style="border-top: 0pt; padding-top: 0pt; border-right: 0pt; border-left: 0pt; padding-left: 0pt; vertical-align: top; padding-bottom: 0pt; border-bottom: 0.5pt solid #000000; padding-right: 0pt; ">
                                <P style="margin-left: 0pt; font-size: 1pt; line-height: 1pt; margin-top: 0pt; margin-bottom: 0; margin-right: 0pt; ">&#8203;</P>
                            </TD>
                            <TD style="border-top: 0pt; padding-top: 0pt; border-right: 0pt; border-left: 0pt; padding-left: 0pt; vertical-align: bottom; padding-bottom: 0pt; border-bottom: 0.5pt solid #000000; padding-right: 0pt; ">
                                <P style="margin-left: 0pt; font-size: 1pt; line-height: 1pt; margin-top: 0pt; margin-bottom: 0; margin-right: 0pt; ">&#8203;</P>
                            </TD>
                            <TD style="border-top: 0pt; padding-top: 1pt; border-right: 0pt; border-left: 0pt; padding-left: 0pt; vertical-align: bottom; padding-bottom: 1pt; border-bottom: 0.5pt solid #000000; padding-right: 0pt; ">
                                <P style="margin-left: 0pt; color: #000000; text-indent: 0pt; font-size: 8pt; font-family: Arial, sans-serif; line-height: normal; margin-top: 0; margin-bottom: 0; text-align: center; margin-right: 0pt; "><FONT style="font-weight: bold; "><B>Value</B></FONT></P>
                            </TD>
                            <TD style="border-top: 0pt; padding-top: 0pt; border-right: 0pt; border-left: 0pt; padding-left: 0pt; vertical-align: bottom; padding-bottom: 0pt; border-bottom: 0pt; padding-right: 0pt; ">
                                <P style="margin-left: 0pt; font-size: 1pt; line-height: 1pt; margin-top: 0pt; margin-bottom: 0; margin-right: 0pt; ">&#8203;</P>
                            </TD>
                        </TR>
                        <TR style="min-height: 3pt; ">
                            <TD style="background-color: #cceeff; border-top: 0pt; padding-top: 1pt; border-right: 0pt; border-left: 0pt; padding-left: 0pt; vertical-align: top; padding-bottom: 1pt; border-bottom: 0.5pt solid #000000; padding-right: 0pt; ">
                                <P style="margin-left: 0pt; color: #000000; font-size: 9pt; font-family: Arial, sans-serif; line-height: normal; margin-top: 0; margin-bottom: 0; text-align: right; margin-right: 0pt; "><FONT>&#160;</FONT></P>
                            </TD>
                            <TD style="background-color: #cceeff; border-top: 0pt; padding-top: 0pt; border-right: 0pt; border-left: 0pt; padding-left: 0pt; vertical-align: bottom; padding-bottom: 0pt; border-bottom: 0.5pt solid #000000; padding-right: 0pt; ">
                                <P style="margin-left: 0pt; font-size: 1pt; line-height: 1pt; margin-top: 0pt; margin-bottom: 0; margin-right: 0pt; ">&#8203;</P>
                            </TD>
                            <TD style="background-color: #cceeff; border-top: 0pt; padding-top: 1pt; border-right: 0pt; border-left: 0pt; padding-left: 0pt; vertical-align: bottom; padding-bottom: 1pt; border-bottom: 0.5pt solid #000000; padding-right: 0pt; ">
                                <P style="margin-left: 0pt; color: #000000; text-indent: 0pt; font-size: 9pt; font-family: Arial, sans-serif; line-height: normal; margin-top: 0; margin-bottom: 0; text-align: left; margin-right: 0pt; "><FONT style="font-weight: bold; "><B>Insurance &#8212; 1.0%</B></FONT></P>
                            </TD>
                            <TD style="background-color: #cceeff; border-top: 0.5pt solid #000000; padding-top: 0pt; border-right: 0pt; border-left: 0pt; padding-left: 0pt; vertical-align: bottom; padding-bottom: 0pt; border-bottom: 0.5pt solid #000000; padding-right: 0pt; ">
                                <P style="margin-left: 0pt; font-size: 1pt; line-height: 1pt; margin-top: 0pt; margin-bottom: 0; margin-right: 0pt; ">&#8203;</P>
                            </TD>
                            <TD style="background-color: #cceeff; border-top: 0pt; padding-top: 0pt; border-right: 0pt; border-left: 0pt; padding-left: 0pt; vertical-align: bottom; padding-bottom: 0pt; border-bottom: 0pt; padding-right: 0pt; ">
                                <P style="margin-left: 0pt; font-size: 1pt; line-height: 1pt; margin-top: 0pt; margin-bottom: 0; margin-right: 0pt; ">&#8203;</P>
                            </TD>
                        </TR>
                        <TR style="min-height: 3pt; ">
                            <TD style="border-top: 0.5pt solid #000000; padding-top: 1pt; border-right: 0pt; border-left: 0pt; padding-left: 0pt; vertical-align: top; padding-bottom: 1pt; border-bottom: 0pt; padding-right: 0pt; ">
                                <P style="margin-left: 0pt; color: #000000; font-size: 9pt; font-family: Arial, sans-serif; line-height: normal; margin-top: 0; margin-bottom: 0; text-align: right; margin-right: 0pt; "><FONT style="float: left; "><FONT>$</FONT></FONT><FONT style="float: right; "><FONT>2,000,000</FONT></FONT><FONT style="font-size: 9pt; ">&#8203;</FONT>                                    <BR clear="all"></P>
                            </TD>
                            <TD style="border-top: 0.5pt solid #000000; padding-top: 0pt; border-right: 0pt; border-left: 0pt; padding-left: 0pt; vertical-align: bottom; padding-bottom: 0pt; border-bottom: 0pt; padding-right: 0pt; ">
                                <P style="margin-left: 0pt; font-size: 1pt; line-height: 1pt; margin-top: 0pt; margin-bottom: 0; margin-right: 0pt; ">&#8203;</P>
                            </TD>
                            <TD style="border-top: 0.5pt solid #000000; padding-top: 1pt; border-right: 0pt; border-left: 0pt; padding-left: 0pt; vertical-align: bottom; padding-bottom: 1pt; border-bottom: 0pt; padding-right: 0pt; ">
                                <P style="margin-left: 11.25pt; color: #000000; text-indent: -11.25pt; font-size: 9pt; font-family: Arial, sans-serif; line-height: normal; margin-top: 0; margin-bottom: 0; text-align: left; margin-right: 0pt; "><FONT>Liberty Mutual Insurance, 7.697% 10/15/97, 144A**** </FONT></P>
                            </TD>
                            <TD style="border-top: 0.5pt solid #000000; padding-top: 1pt; border-right: 0pt; border-left: 0pt; padding-left: 0pt; vertical-align: bottom; padding-bottom: 1pt; border-bottom: 0pt; padding-right: 0pt; ">
                                <P style="margin-left: 0pt; color: #000000; font-size: 9pt; font-family: Arial, sans-serif; line-height: normal; margin-top: 0; margin-bottom: 0; text-align: right; margin-right: 0pt; "><FONT style="float: left; "><FONT>$</FONT></FONT><FONT style="float: right; "><A name="pfd-nportex_083125a1378"></A><FONT>&#160;2,250,506</FONT></FONT><FONT style="font-size: 9pt; ">&#8203;</FONT>                                    <BR clear="all"></P>
                            </TD>
                            <TD style="border-top: 0pt; padding-top: 1pt; border-right: 0pt; border-left: 0pt; padding-left: 0pt; vertical-align: bottom; padding-bottom: 1pt; border-bottom: 0pt; padding-right: 0pt; ">
                                <P style="margin-left: 0pt; color: #000000; text-indent: 0pt; font-size: 9pt; font-family: Arial, sans-serif; line-height: normal; margin-top: 0; margin-bottom: 0; text-align: left; margin-right: 0pt; "><SUP style="font-size: 7.0pt; line-height: 7.0pt; ">(2)(3)</SUP><FONT>&#160;</FONT></P>
                            </TD>
                        </TR>
                        <TR style="min-height: 3pt; ">
                            <TD style="background-color: #cceeff; border-top: 0pt; padding-top: 1pt; border-right: 0pt; border-left: 0pt; padding-left: 0pt; vertical-align: top; padding-bottom: 1pt; border-bottom: 0.5pt solid #000000; padding-right: 0pt; ">
                                <P style="margin-left: 0pt; color: #000000; font-size: 9pt; font-family: Arial, sans-serif; line-height: normal; margin-top: 0; margin-bottom: 0; text-align: right; margin-right: 0pt; "><FONT style="float: left; "><FONT>$</FONT></FONT><FONT style="float: right; "><FONT>375,000</FONT></FONT><FONT style="font-size: 9pt; ">&#8203;</FONT>                                    <BR clear="all"></P>
                            </TD>
                            <TD style="background-color: #cceeff; border-top: 0pt; padding-top: 0pt; border-right: 0pt; border-left: 0pt; padding-left: 0pt; vertical-align: bottom; padding-bottom: 0pt; border-bottom: 0.5pt solid #000000; padding-right: 0pt; ">
                                <P style="margin-left: 0pt; font-size: 1pt; line-height: 1pt; margin-top: 0pt; margin-bottom: 0; margin-right: 0pt; ">&#8203;</P>
                            </TD>
                            <TD style="background-color: #cceeff; border-top: 0pt; padding-top: 1pt; border-right: 0pt; border-left: 0pt; padding-left: 0pt; vertical-align: bottom; padding-bottom: 1pt; border-bottom: 0.5pt solid #000000; padding-right: 0pt; ">
                                <P style="margin-left: 11.25pt; color: #000000; text-indent: -11.25pt; font-size: 9pt; font-family: Arial, sans-serif; line-height: normal; margin-top: 0; margin-bottom: 0; text-align: left; margin-right: 0pt; "><FONT>Universal Insurance Holdings, Inc., 5.625% 11/30/26 </FONT></P>
                            </TD>
                            <TD style="background-color: #cceeff; border-top: 0pt; padding-top: 1pt; border-right: 0pt; border-left: 0pt; padding-left: 0pt; vertical-align: bottom; padding-bottom: 1pt; border-bottom: 0.5pt solid #000000; padding-right: 0pt; ">
                                <P style="margin-left: 0pt; color: #000000; font-size: 9pt; font-family: Arial, sans-serif; line-height: normal; margin-top: 0; margin-bottom: 0; text-align: right; margin-right: 0pt; "><A name="pfd-nportex_083125a1379"></A><FONT>&#160;371,101</FONT></P>
                            </TD>
                            <TD style="background-color: #cceeff; border-top: 0pt; padding-top: 0pt; border-right: 0pt; border-left: 0pt; padding-left: 0pt; vertical-align: bottom; padding-bottom: 0pt; border-bottom: 0pt; padding-right: 0pt; ">
                                <P style="margin-left: 0pt; font-size: 1pt; line-height: 1pt; margin-top: 0pt; margin-bottom: 0; margin-right: 0pt; ">&#8203;</P>
                            </TD>
                        </TR>
                        <TR style="min-height: 3pt; ">
                            <TD style="border-top: 0.5pt solid #000000; padding-top: 1pt; border-right: 0pt; border-left: 0pt; padding-left: 0pt; vertical-align: top; padding-bottom: 1pt; border-bottom: 0pt; padding-right: 0pt; ">
                                <P style="margin-left: 0pt; color: #000000; font-size: 9pt; font-family: Arial, sans-serif; line-height: normal; margin-top: 0; margin-bottom: 0; text-align: right; margin-right: 0pt; "><FONT>&#160;</FONT></P>
                            </TD>
                            <TD style="border-top: 0.5pt solid #000000; padding-top: 0pt; border-right: 0pt; border-left: 0pt; padding-left: 0pt; vertical-align: bottom; padding-bottom: 0pt; border-bottom: 0pt; padding-right: 0pt; ">
                                <P style="margin-left: 0pt; font-size: 1pt; line-height: 1pt; margin-top: 0pt; margin-bottom: 0; margin-right: 0pt; ">&#8203;</P>
                            </TD>
                            <TD style="border-top: 0.5pt solid #000000; padding-top: 0pt; border-right: 0pt; border-left: 0pt; padding-left: 0pt; vertical-align: bottom; padding-bottom: 0pt; border-bottom: 0pt; padding-right: 0pt; ">
                                <P style="margin-left: 0pt; font-size: 1pt; line-height: 1pt; margin-top: 0pt; margin-bottom: 0; margin-right: 0pt; ">&#8203;</P>
                            </TD>
                            <TD style="border-top: 0.5pt solid #000000; padding-top: 1pt; border-right: 0pt; border-left: 0pt; padding-left: 0pt; vertical-align: bottom; padding-bottom: 1pt; border-bottom: 0.5pt solid #000000; padding-right: 0pt; ">
                                <P style="margin-left: 0pt; color: #000000; font-size: 9pt; font-family: Arial, sans-serif; line-height: normal; margin-top: 0; margin-bottom: 0; text-align: right; margin-right: 0pt; "><A name="pfd-nportex_083125a1380"></A><FONT>&#160;2,621,607</FONT></P>
                            </TD>
                            <TD style="border-top: 0pt; padding-top: 0pt; border-right: 0pt; border-left: 0pt; padding-left: 0pt; vertical-align: bottom; padding-bottom: 0pt; border-bottom: 0pt; padding-right: 0pt; ">
                                <P style="margin-left: 0pt; font-size: 1pt; line-height: 1pt; margin-top: 0pt; margin-bottom: 0; margin-right: 0pt; ">&#8203;</P>
                            </TD>
                        </TR>
                        <TR style="min-height: 3pt; ">
                            <TD style="background-color: #cceeff; border-top: 0pt; padding-top: 1pt; border-right: 0pt; border-left: 0pt; padding-left: 0pt; vertical-align: top; padding-bottom: 1pt; border-bottom: 0.5pt solid #000000; padding-right: 0pt; ">
                                <P style="margin-left: 0pt; color: #000000; font-size: 9pt; font-family: Arial, sans-serif; line-height: normal; margin-top: 0; margin-bottom: 0; text-align: right; margin-right: 0pt; "><FONT>&#160;</FONT></P>
                            </TD>
                            <TD style="background-color: #cceeff; border-top: 0pt; padding-top: 0pt; border-right: 0pt; border-left: 0pt; padding-left: 0pt; vertical-align: bottom; padding-bottom: 0pt; border-bottom: 0.5pt solid #000000; padding-right: 0pt; ">
                                <P style="margin-left: 0pt; font-size: 1pt; line-height: 1pt; margin-top: 0pt; margin-bottom: 0; margin-right: 0pt; ">&#8203;</P>
                            </TD>
                            <TD style="background-color: #cceeff; border-top: 0pt; padding-top: 1pt; border-right: 0pt; border-left: 0pt; padding-left: 0pt; vertical-align: bottom; padding-bottom: 1pt; border-bottom: 0.5pt solid #000000; padding-right: 0pt; ">
                                <P style="margin-left: 0pt; color: #000000; text-indent: 0pt; font-size: 9pt; font-family: Arial, sans-serif; line-height: normal; margin-top: 0; margin-bottom: 0; text-align: left; margin-right: 0pt; "><FONT style="font-weight: bold; "><B>Communication &#8212; 0.4%</B></FONT></P>
                            </TD>
                            <TD style="background-color: #cceeff; border-top: 0.5pt solid #000000; padding-top: 0pt; border-right: 0pt; border-left: 0pt; padding-left: 0pt; vertical-align: bottom; padding-bottom: 0pt; border-bottom: 0.5pt solid #000000; padding-right: 0pt; ">
                                <P style="margin-left: 0pt; font-size: 1pt; line-height: 1pt; margin-top: 0pt; margin-bottom: 0; margin-right: 0pt; ">&#8203;</P>
                            </TD>
                            <TD style="background-color: #cceeff; border-top: 0pt; padding-top: 0pt; border-right: 0pt; border-left: 0pt; padding-left: 0pt; vertical-align: bottom; padding-bottom: 0pt; border-bottom: 0pt; padding-right: 0pt; ">
                                <P style="margin-left: 0pt; font-size: 1pt; line-height: 1pt; margin-top: 0pt; margin-bottom: 0; margin-right: 0pt; ">&#8203;</P>
                            </TD>
                        </TR>
                        <TR style="min-height: 3pt; ">
                            <TD style="border-top: 0.5pt solid #000000; padding-top: 1pt; border-right: 0pt; border-left: 0pt; padding-left: 0pt; vertical-align: top; padding-bottom: 1pt; border-bottom: 0pt; padding-right: 0pt; ">
                                <P style="margin-left: 0pt; color: #000000; font-size: 9pt; font-family: Arial, sans-serif; line-height: normal; margin-top: 0; margin-bottom: 0; text-align: right; margin-right: 0pt; "><FONT>&#160;</FONT></P>
                            </TD>
                            <TD style="border-top: 0.5pt solid #000000; padding-top: 0pt; border-right: 0pt; border-left: 0pt; padding-left: 0pt; vertical-align: bottom; padding-bottom: 0pt; border-bottom: 0pt; padding-right: 0pt; ">
                                <P style="margin-left: 0pt; font-size: 1pt; line-height: 1pt; margin-top: 0pt; margin-bottom: 0; margin-right: 0pt; ">&#8203;</P>
                            </TD>
                            <TD style="border-top: 0.5pt solid #000000; padding-top: 1pt; border-right: 0pt; border-left: 0pt; padding-left: 0pt; vertical-align: bottom; padding-bottom: 1pt; border-bottom: 0pt; padding-right: 0pt; ">
                                <P style="margin-left: 11.25pt; color: #000000; text-indent: -11.25pt; font-size: 9pt; font-family: Arial, sans-serif; line-height: normal; margin-top: 0; margin-bottom: 0; text-align: left; margin-right: 0pt; "><FONT>Qwest Corporation:</FONT></P>
                            </TD>
                            <TD style="border-top: 0.5pt solid #000000; padding-top: 0pt; border-right: 0pt; border-left: 0pt; padding-left: 0pt; vertical-align: bottom; padding-bottom: 0pt; border-bottom: 0pt; padding-right: 0pt; ">
                                <P style="margin-left: 0pt; font-size: 1pt; line-height: 1pt; margin-top: 0pt; margin-bottom: 0; margin-right: 0pt; ">&#8203;</P>
                            </TD>
                            <TD style="border-top: 0pt; padding-top: 0pt; border-right: 0pt; border-left: 0pt; padding-left: 0pt; vertical-align: bottom; padding-bottom: 0pt; border-bottom: 0pt; padding-right: 0pt; ">
                                <P style="margin-left: 0pt; font-size: 1pt; line-height: 1pt; margin-top: 0pt; margin-bottom: 0; margin-right: 0pt; ">&#8203;</P>
                            </TD>
                        </TR>
                        <TR style="min-height: 3pt; ">
                            <TD style="background-color: #cceeff; border-top: 0pt; padding-top: 1pt; border-right: 0pt; border-left: 0pt; padding-left: 0pt; vertical-align: top; padding-bottom: 1pt; border-bottom: 0pt; padding-right: 0pt; ">
                                <P style="margin-left: 0pt; color: #000000; font-size: 9pt; font-family: Arial, sans-serif; line-height: normal; margin-top: 0; margin-bottom: 0; text-align: right; margin-right: 0pt; "><FONT>22,170</FONT></P>
                            </TD>
                            <TD style="background-color: #cceeff; border-top: 0pt; padding-top: 0pt; border-right: 0pt; border-left: 0pt; padding-left: 0pt; vertical-align: bottom; padding-bottom: 0pt; border-bottom: 0pt; padding-right: 0pt; ">
                                <P style="margin-left: 0pt; font-size: 1pt; line-height: 1pt; margin-top: 0pt; margin-bottom: 0; margin-right: 0pt; ">&#8203;</P>
                            </TD>
                            <TD style="background-color: #cceeff; border-top: 0pt; padding-top: 1pt; border-right: 0pt; border-left: 0pt; padding-left: 0pt; vertical-align: bottom; padding-bottom: 1pt; border-bottom: 0pt; padding-right: 0pt; ">
                                <P style="margin-left: 22.5pt; color: #000000; text-indent: -11.25pt; font-size: 9pt; font-family: Arial, sans-serif; line-height: normal; margin-top: 0; margin-bottom: 0; text-align: left; margin-right: 0pt; "><FONT>6.50% 09/01/56 </FONT></P>
                            </TD>
                            <TD style="background-color: #cceeff; border-top: 0pt; padding-top: 1pt; border-right: 0pt; border-left: 0pt; padding-left: 0pt; vertical-align: bottom; padding-bottom: 1pt; border-bottom: 0pt; padding-right: 0pt; ">
                                <P style="margin-left: 0pt; color: #000000; font-size: 9pt; font-family: Arial, sans-serif; line-height: normal; margin-top: 0; margin-bottom: 0; text-align: right; margin-right: 0pt; "><FONT>441,183</FONT></P>
                            </TD>
                            <TD style="background-color: #cceeff; border-top: 0pt; padding-top: 0pt; border-right: 0pt; border-left: 0pt; padding-left: 0pt; vertical-align: bottom; padding-bottom: 0pt; border-bottom: 0pt; padding-right: 0pt; ">
                                <P style="margin-left: 0pt; font-size: 1pt; line-height: 1pt; margin-top: 0pt; margin-bottom: 0; margin-right: 0pt; ">&#8203;</P>
                            </TD>
                        </TR>
                        <TR style="min-height: 3pt; ">
                            <TD style="border-top: 0pt; padding-top: 1pt; border-right: 0pt; border-left: 0pt; padding-left: 0pt; vertical-align: top; padding-bottom: 1pt; border-bottom: 0.5pt solid #000000; padding-right: 0pt; ">
                                <P style="margin-left: 0pt; color: #000000; font-size: 9pt; font-family: Arial, sans-serif; line-height: normal; margin-top: 0; margin-bottom: 0; text-align: right; margin-right: 0pt; "><FONT>28,330</FONT></P>
                            </TD>
                            <TD style="border-top: 0pt; padding-top: 0pt; border-right: 0pt; border-left: 0pt; padding-left: 0pt; vertical-align: bottom; padding-bottom: 0pt; border-bottom: 0.5pt solid #000000; padding-right: 0pt; ">
                                <P style="margin-left: 0pt; font-size: 1pt; line-height: 1pt; margin-top: 0pt; margin-bottom: 0; margin-right: 0pt; ">&#8203;</P>
                            </TD>
                            <TD style="border-top: 0pt; padding-top: 1pt; border-right: 0pt; border-left: 0pt; padding-left: 0pt; vertical-align: bottom; padding-bottom: 1pt; border-bottom: 0.5pt solid #000000; padding-right: 0pt; ">
                                <P style="margin-left: 22.5pt; color: #000000; text-indent: -11.25pt; font-size: 9pt; font-family: Arial, sans-serif; line-height: normal; margin-top: 0; margin-bottom: 0; text-align: left; margin-right: 0pt; "><FONT>6.75% 06/15/57 </FONT></P>
                            </TD>
                            <TD style="border-top: 0pt; padding-top: 1pt; border-right: 0pt; border-left: 0pt; padding-left: 0pt; vertical-align: bottom; padding-bottom: 1pt; border-bottom: 0.5pt solid #000000; padding-right: 0pt; ">
                                <P style="margin-left: 0pt; color: #000000; font-size: 9pt; font-family: Arial, sans-serif; line-height: normal; margin-top: 0; margin-bottom: 0; text-align: right; margin-right: 0pt; "><A name="pfd-nportex_083125a1383"></A><FONT>&#160;563,767</FONT></P>
                            </TD>
                            <TD style="border-top: 0pt; padding-top: 0pt; border-right: 0pt; border-left: 0pt; padding-left: 0pt; vertical-align: bottom; padding-bottom: 0pt; border-bottom: 0pt; padding-right: 0pt; ">
                                <P style="margin-left: 0pt; font-size: 1pt; line-height: 1pt; margin-top: 0pt; margin-bottom: 0; margin-right: 0pt; ">&#8203;</P>
                            </TD>
                        </TR>
                        <TR style="min-height: 3pt; ">
                            <TD style="background-color: #cceeff; border-top: 0.5pt solid #000000; padding-top: 1pt; border-right: 0pt; border-left: 0pt; padding-left: 0pt; vertical-align: top; padding-bottom: 1pt; border-bottom: 0pt; padding-right: 0pt; ">
                                <P style="margin-left: 0pt; color: #000000; font-size: 9pt; font-family: Arial, sans-serif; line-height: normal; margin-top: 0; margin-bottom: 0; text-align: right; margin-right: 0pt; "><FONT>&#160;</FONT></P>
                            </TD>
                            <TD style="background-color: #cceeff; border-top: 0.5pt solid #000000; padding-top: 0pt; border-right: 0pt; border-left: 0pt; padding-left: 0pt; vertical-align: bottom; padding-bottom: 0pt; border-bottom: 0pt; padding-right: 0pt; ">
                                <P style="margin-left: 0pt; font-size: 1pt; line-height: 1pt; margin-top: 0pt; margin-bottom: 0; margin-right: 0pt; ">&#8203;</P>
                            </TD>
                            <TD style="background-color: #cceeff; border-top: 0.5pt solid #000000; padding-top: 1pt; border-right: 0pt; border-left: 0pt; padding-left: 0pt; vertical-align: bottom; padding-bottom: 1pt; border-bottom: 0pt; padding-right: 0pt; ">
                                <P style="margin-left: 22.5pt; color: #000000; text-indent: -11.25pt; font-size: 9pt; font-family: Arial, sans-serif; line-height: normal; margin-top: 0; margin-bottom: 0; text-align: left; margin-right: 0pt; "><FONT> </FONT></P>
                            </TD>
                            <TD style="background-color: #cceeff; border-top: 0.5pt solid #000000; padding-top: 1pt; border-right: 0pt; border-left: 0pt; padding-left: 0pt; vertical-align: bottom; padding-bottom: 1pt; border-bottom: 0.5pt solid #000000; padding-right: 0pt; ">
                                <P style="margin-left: 0pt; color: #000000; font-size: 9pt; font-family: Arial, sans-serif; line-height: normal; margin-top: 0; margin-bottom: 0; text-align: right; margin-right: 0pt; "><A name="pfd-nportex_083125a1384"></A><FONT>&#160;1,004,950</FONT></P>
                            </TD>
                            <TD style="background-color: #cceeff; border-top: 0pt; padding-top: 0pt; border-right: 0pt; border-left: 0pt; padding-left: 0pt; vertical-align: bottom; padding-bottom: 0pt; border-bottom: 0pt; padding-right: 0pt; ">
                                <P style="margin-left: 0pt; font-size: 1pt; line-height: 1pt; margin-top: 0pt; margin-bottom: 0; margin-right: 0pt; ">&#8203;</P>
                            </TD>
                        </TR>
                        <TR style="min-height: 3pt; ">
                            <TD style="border-top: 0pt; padding-top: 1pt; border-right: 0pt; border-left: 0pt; padding-left: 0pt; vertical-align: top; padding-bottom: 1pt; border-bottom: 0pt; padding-right: 0pt; ">
                                <P style="margin-left: 0pt; color: #000000; font-size: 9pt; font-family: Arial, sans-serif; line-height: normal; margin-top: 0; margin-bottom: 0; text-align: right; margin-right: 0pt; "><FONT>&#160;</FONT></P>
                            </TD>
                            <TD style="border-top: 0pt; padding-top: 0pt; border-right: 0pt; border-left: 0pt; padding-left: 0pt; vertical-align: bottom; padding-bottom: 0pt; border-bottom: 0pt; padding-right: 0pt; ">
                                <P style="margin-left: 0pt; font-size: 1pt; line-height: 1pt; margin-top: 0pt; margin-bottom: 0; margin-right: 0pt; ">&#8203;</P>
                            </TD>
                            <TD style="border-top: 0pt; padding-top: 1pt; border-right: 0pt; border-left: 0pt; padding-left: 0pt; vertical-align: bottom; padding-bottom: 1pt; border-bottom: 0pt; padding-right: 0pt; ">
                                <P style="margin-left: 11.25pt; color: #000000; text-indent: -11.25pt; font-size: 9pt; font-family: Arial, sans-serif; line-height: normal; margin-top: 0; margin-bottom: 0; text-align: left; margin-right: 0pt; "><FONT style="font-weight: bold; "><B>Total Corporate Debt Securities<br></B></FONT><FONT>(Cost $3,785,565) </FONT></P>
                            </TD>
                            <TD style="border-top: 0.5pt solid #000000; padding-top: 1pt; border-right: 0pt; border-left: 0pt; padding-left: 0pt; vertical-align: bottom; padding-bottom: 1pt; border-bottom: 0.5pt solid #000000; padding-right: 0pt; ">
                                <P style="margin-left: 0pt; color: #000000; font-size: 9pt; font-family: Arial, sans-serif; line-height: normal; margin-top: 0; margin-bottom: 0; text-align: right; margin-right: 0pt; "><A name="pfd-nportex_083125a1385"></A><FONT>&#160;4,041,939</FONT></P>
                            </TD>
                            <TD style="border-top: 0pt; padding-top: 0pt; border-right: 0pt; border-left: 0pt; padding-left: 0pt; vertical-align: bottom; padding-bottom: 0pt; border-bottom: 0pt; padding-right: 0pt; ">
                                <P style="margin-left: 0pt; font-size: 1pt; line-height: 1pt; margin-top: 0pt; margin-bottom: 0; margin-right: 0pt; ">&#8203;</P>
                            </TD>
                        </TR>
                        <TR style="min-height: 3pt; ">
                            <TD style="background-color: #cceeff; border-top: 0pt; padding-top: 1pt; border-right: 0pt; border-left: 0pt; padding-left: 0pt; vertical-align: top; padding-bottom: 1pt; border-bottom: 0pt; padding-right: 0pt; ">
                                <P style="margin-left: 0pt; color: #000000; font-size: 9pt; font-family: Arial, sans-serif; line-height: normal; margin-top: 0; margin-bottom: 0; text-align: right; margin-right: 0pt; "><FONT>&#160;</FONT></P>
                            </TD>
                            <TD style="background-color: #cceeff; border-top: 0pt; padding-top: 0pt; border-right: 0pt; border-left: 0pt; padding-left: 0pt; vertical-align: bottom; padding-bottom: 0pt; border-bottom: 0pt; padding-right: 0pt; ">
                                <P style="margin-left: 0pt; font-size: 1pt; line-height: 1pt; margin-top: 0pt; margin-bottom: 0; margin-right: 0pt; ">&#8203;</P>
                            </TD>
                            <TD style="background-color: #cceeff; border-top: 0pt; padding-top: 0pt; border-right: 0pt; border-left: 0pt; padding-left: 0pt; vertical-align: bottom; padding-bottom: 0pt; border-bottom: 0pt; padding-right: 0pt; ">
                                <P style="margin-left: 0pt; font-size: 1pt; line-height: 1pt; margin-top: 0pt; margin-bottom: 0; margin-right: 0pt; ">&#8203;</P>
                            </TD>
                            <TD style="background-color: #cceeff; border-top: 0.5pt solid #000000; padding-top: 0pt; border-right: 0pt; border-left: 0pt; padding-left: 0pt; vertical-align: bottom; padding-bottom: 0pt; border-bottom: 0pt; padding-right: 0pt; ">
                                <P style="margin-left: 0pt; font-size: 1pt; line-height: 1pt; margin-top: 0pt; margin-bottom: 0; margin-right: 0pt; ">&#8203;</P>
                            </TD>
                            <TD style="background-color: #cceeff; border-top: 0pt; padding-top: 0pt; border-right: 0pt; border-left: 0pt; padding-left: 0pt; vertical-align: bottom; padding-bottom: 0pt; border-bottom: 0pt; padding-right: 0pt; ">
                                <P style="margin-left: 0pt; font-size: 1pt; line-height: 1pt; margin-top: 0pt; margin-bottom: 0; margin-right: 0pt; ">&#8203;</P>
                            </TD>
                        </TR>
                        <TR style="min-height: 3pt; ">
                            <TD colspan="3" style="border-top: 0pt; padding-top: 1pt; border-right: 0pt; border-left: 0pt; padding-left: 0pt; vertical-align: top; padding-bottom: 1pt; border-bottom: 0pt; padding-right: 0pt; ">
                                <P style="margin-left: 0pt; color: #000000; text-indent: 0pt; font-size: 9pt; font-family: Arial, sans-serif; line-height: normal; margin-top: 0; margin-bottom: 0; text-align: left; margin-right: 0pt; "><FONT style="font-weight: bold; "><B>Money Market Fund &#8212; 1.1%</B></FONT></P>
                            </TD>
                            <TD style="border-top: 0pt; padding-top: 0pt; border-right: 0pt; border-left: 0pt; padding-left: 0pt; vertical-align: bottom; padding-bottom: 0pt; border-bottom: 0.5pt solid #000000; padding-right: 0pt; ">
                                <P style="margin-left: 0pt; font-size: 1pt; line-height: 1pt; margin-top: 0pt; margin-bottom: 0; margin-right: 0pt; ">&#8203;</P>
                            </TD>
                            <TD style="border-top: 0pt; padding-top: 0pt; border-right: 0pt; border-left: 0pt; padding-left: 0pt; vertical-align: bottom; padding-bottom: 0pt; border-bottom: 0pt; padding-right: 0pt; ">
                                <P style="margin-left: 0pt; font-size: 1pt; line-height: 1pt; margin-top: 0pt; margin-bottom: 0; margin-right: 0pt; ">&#8203;</P>
                            </TD>
                        </TR>
                        <TR style="min-height: 3pt; ">
                            <TD style="background-color: #cceeff; border-top: 0.5pt solid #000000; padding-top: 1pt; border-right: 0pt; border-left: 0pt; padding-left: 0pt; vertical-align: top; padding-bottom: 1pt; border-bottom: 0pt; padding-right: 0pt; ">
                                <P style="margin-left: 0pt; color: #000000; font-size: 9pt; font-family: Arial, sans-serif; line-height: normal; margin-top: 0; margin-bottom: 0; text-align: right; margin-right: 0pt; "><FONT>&#160;</FONT></P>
                            </TD>
                            <TD style="background-color: #cceeff; border-top: 0.5pt solid #000000; padding-top: 0pt; border-right: 0pt; border-left: 0pt; padding-left: 0pt; vertical-align: bottom; padding-bottom: 0pt; border-bottom: 0pt; padding-right: 0pt; ">
                                <P style="margin-left: 0pt; font-size: 1pt; line-height: 1pt; margin-top: 0pt; margin-bottom: 0; margin-right: 0pt; ">&#8203;</P>
                            </TD>
                            <TD style="background-color: #cceeff; border-top: 0.5pt solid #000000; padding-top: 1pt; border-right: 0pt; border-left: 0pt; padding-left: 0pt; vertical-align: bottom; padding-bottom: 1pt; border-bottom: 0pt; padding-right: 0pt; ">
                                <P style="margin-left: 11.25pt; color: #000000; text-indent: -11.25pt; font-size: 9pt; font-family: Arial, sans-serif; line-height: normal; margin-top: 0; margin-bottom: 0; text-align: left; margin-right: 0pt; "><FONT>BlackRock Liquidity Funds:</FONT></P>
                            </TD>
                            <TD style="background-color: #cceeff; border-top: 0.5pt solid #000000; padding-top: 0pt; border-right: 0pt; border-left: 0pt; padding-left: 0pt; vertical-align: bottom; padding-bottom: 0pt; border-bottom: 0pt; padding-right: 0pt; ">
                                <P style="margin-left: 0pt; font-size: 1pt; line-height: 1pt; margin-top: 0pt; margin-bottom: 0; margin-right: 0pt; ">&#8203;</P>
                            </TD>
                            <TD style="background-color: #cceeff; border-top: 0pt; padding-top: 0pt; border-right: 0pt; border-left: 0pt; padding-left: 0pt; vertical-align: bottom; padding-bottom: 0pt; border-bottom: 0pt; padding-right: 0pt; ">
                                <P style="margin-left: 0pt; font-size: 1pt; line-height: 1pt; margin-top: 0pt; margin-bottom: 0; margin-right: 0pt; ">&#8203;</P>
                            </TD>
                        </TR>
                        <TR style="min-height: 3pt; ">
                            <TD style="border-top: 0pt; padding-top: 1pt; border-right: 0pt; border-left: 0pt; padding-left: 0pt; vertical-align: top; padding-bottom: 1pt; border-bottom: 0.5pt solid #000000; padding-right: 0pt; ">
                                <P style="margin-left: 0pt; color: #000000; font-size: 9pt; font-family: Arial, sans-serif; line-height: normal; margin-top: 0; margin-bottom: 0; text-align: right; margin-right: 0pt; "><FONT>2,751,695</FONT></P>
                            </TD>
                            <TD style="border-top: 0pt; padding-top: 0pt; border-right: 0pt; border-left: 0pt; padding-left: 0pt; vertical-align: bottom; padding-bottom: 0pt; border-bottom: 0.5pt solid #000000; padding-right: 0pt; ">
                                <P style="margin-left: 0pt; font-size: 1pt; line-height: 1pt; margin-top: 0pt; margin-bottom: 0; margin-right: 0pt; ">&#8203;</P>
                            </TD>
                            <TD style="border-top: 0pt; padding-top: 1pt; border-right: 0pt; border-left: 0pt; padding-left: 0pt; vertical-align: bottom; padding-bottom: 1pt; border-bottom: 0.5pt solid #000000; padding-right: 0pt; ">
                                <P style="margin-left: 22.5pt; color: #000000; text-indent: -11.25pt; font-size: 9pt; font-family: Arial, sans-serif; line-height: normal; margin-top: 0; margin-bottom: 0; text-align: left; margin-right: 0pt; "><FONT>T-Fund, Institutional Class </FONT></P>
                            </TD>
                            <TD style="border-top: 0pt; padding-top: 1pt; border-right: 0pt; border-left: 0pt; padding-left: 0pt; vertical-align: bottom; padding-bottom: 1pt; border-bottom: 0.5pt solid #000000; padding-right: 0pt; ">
                                <P style="margin-left: 0pt; color: #000000; font-size: 9pt; font-family: Arial, sans-serif; line-height: normal; margin-top: 0; margin-bottom: 0; text-align: right; margin-right: 0pt; "><A name="pfd-nportex_083125a1386"></A><FONT>&#160;2,751,695</FONT></P>
                            </TD>
                            <TD style="border-top: 0pt; padding-top: 0pt; border-right: 0pt; border-left: 0pt; padding-left: 0pt; vertical-align: bottom; padding-bottom: 0pt; border-bottom: 0pt; padding-right: 0pt; ">
                                <P style="margin-left: 0pt; font-size: 1pt; line-height: 1pt; margin-top: 0pt; margin-bottom: 0; margin-right: 0pt; ">&#8203;</P>
                            </TD>
                        </TR>
                        <TR style="min-height: 3pt; ">
                            <TD style="background-color: #cceeff; border-top: 0.5pt solid #000000; padding-top: 1pt; border-right: 0pt; border-left: 0pt; padding-left: 0pt; vertical-align: top; padding-bottom: 1pt; border-bottom: 0pt; padding-right: 0pt; ">
                                <P style="margin-left: 0pt; color: #000000; font-size: 9pt; font-family: Arial, sans-serif; line-height: normal; margin-top: 0; margin-bottom: 0; text-align: right; margin-right: 0pt; "><FONT style="font-family: Arial, sans-serif; font-style: italic; "><I>&#160;</I></FONT></P>
                            </TD>
                            <TD style="background-color: #cceeff; border-top: 0.5pt solid #000000; padding-top: 0pt; border-right: 0pt; border-left: 0pt; padding-left: 0pt; vertical-align: bottom; padding-bottom: 0pt; border-bottom: 0pt; padding-right: 0pt; ">
                                <P style="margin-left: 0pt; font-size: 1pt; line-height: 1pt; margin-top: 0pt; margin-bottom: 0; margin-right: 0pt; ">&#8203;</P>
                            </TD>
                            <TD style="background-color: #cceeff; border-top: 0.5pt solid #000000; padding-top: 0pt; border-right: 0pt; border-left: 0pt; padding-left: 0pt; vertical-align: bottom; padding-bottom: 0pt; border-bottom: 0pt; padding-right: 0pt; ">
                                <P style="margin-left: 0pt; font-size: 1pt; line-height: 1pt; margin-top: 0pt; margin-bottom: 0; margin-right: 0pt; ">&#8203;</P>
                            </TD>
                            <TD style="background-color: #cceeff; border-top: 0.5pt solid #000000; padding-top: 0pt; border-right: 0pt; border-left: 0pt; padding-left: 0pt; vertical-align: bottom; padding-bottom: 0pt; border-bottom: 0pt; padding-right: 0pt; ">
                                <P style="margin-left: 0pt; font-size: 1pt; line-height: 1pt; margin-top: 0pt; margin-bottom: 0; margin-right: 0pt; ">&#8203;</P>
                            </TD>
                            <TD style="background-color: #cceeff; border-top: 0pt; padding-top: 0pt; border-right: 0pt; border-left: 0pt; padding-left: 0pt; vertical-align: bottom; padding-bottom: 0pt; border-bottom: 0pt; padding-right: 0pt; ">
                                <P style="margin-left: 0pt; font-size: 1pt; line-height: 1pt; margin-top: 0pt; margin-bottom: 0; margin-right: 0pt; ">&#8203;</P>
                            </TD>
                        </TR>
                        <TR style="min-height: 3pt; ">
                            <TD style="border-top: 0pt; padding-top: 1pt; border-right: 0pt; border-left: 0pt; padding-left: 0pt; vertical-align: top; padding-bottom: 1pt; border-bottom: 0pt; padding-right: 0pt; ">
                                <P style="margin-left: 0pt; color: #000000; font-size: 9pt; font-family: Arial, sans-serif; line-height: normal; margin-top: 0; margin-bottom: 0; text-align: right; margin-right: 0pt; "><FONT>&#160;</FONT></P>
                            </TD>
                            <TD style="border-top: 0pt; padding-top: 0pt; border-right: 0pt; border-left: 0pt; padding-left: 0pt; vertical-align: bottom; padding-bottom: 0pt; border-bottom: 0pt; padding-right: 0pt; ">
                                <P style="margin-left: 0pt; font-size: 1pt; line-height: 1pt; margin-top: 0pt; margin-bottom: 0; margin-right: 0pt; ">&#8203;</P>
                            </TD>
                            <TD style="border-top: 0pt; padding-top: 1pt; border-right: 0pt; border-left: 0pt; padding-left: 0pt; vertical-align: bottom; padding-bottom: 1pt; border-bottom: 0pt; padding-right: 0pt; ">
                                <P style="margin-left: 11.25pt; color: #000000; text-indent: -11.25pt; font-size: 9pt; font-family: Arial, sans-serif; line-height: normal; margin-top: 0; margin-bottom: 0; text-align: left; margin-right: 0pt; "><FONT style="font-weight: bold; "><B>Total Money Market Fund</B></FONT><FONT><br>(Cost $2,751,695) </FONT></P>
                            </TD>
                            <TD style="border-top: 0pt; padding-top: 1pt; border-right: 0pt; border-left: 0pt; padding-left: 0pt; vertical-align: bottom; padding-bottom: 1pt; border-bottom: 0.5pt solid #000000; padding-right: 0pt; ">
                                <P style="margin-left: 0pt; color: #000000; font-size: 9pt; font-family: Arial, sans-serif; line-height: normal; margin-top: 0; margin-bottom: 0; text-align: right; margin-right: 0pt; "><A name="pfd-nportex_083125a1387"></A><FONT>&#160;2,751,695</FONT></P>
                            </TD>
                            <TD style="border-top: 0pt; padding-top: 0pt; border-right: 0pt; border-left: 0pt; padding-left: 0pt; vertical-align: bottom; padding-bottom: 0pt; border-bottom: 0pt; padding-right: 0pt; ">
                                <P style="margin-left: 0pt; font-size: 1pt; line-height: 1pt; margin-top: 0pt; margin-bottom: 0; margin-right: 0pt; ">&#8203;</P>
                            </TD>
                        </TR>
                    </TABLE>
                </DIV>
                <P style="margin-left: 0pt; color: #000000; text-indent: 0pt; font-size: 9pt; font-family: Arial, sans-serif; line-height: 11pt; margin-top: 0pt; margin-bottom: 0pt; text-align: justify; margin-right: 0pt; "><FONT style="font-family: Arial, sans-serif; font-style: italic; "><I></I></FONT></P>
                <DIV style="margin-left: 0pt; color: #000000; font-size: 11pt; font-family: Arial, sans-serif; margin-top: 0pt; margin-bottom: 0pt; margin-right: 0pt; ">
                    <TABLE style="width: 622.5pt; margin-top: 4pt; margin-bottom: 0pt; table-layout: fixed; border-collapse: collapse; ">
                        <TR style="margin: 0; height: 0; ">
                            <TD style="border: 0; width: 403.75pt; padding: 0; margin: 0; ">
                            </TD>
                            <TD style="border: 0; width: 60.0pt; padding: 0; margin: 0; ">
                            </TD>
                            <TD style="border: 0; width: 28.75pt; padding: 0; margin: 0; ">
                            </TD>
                            <TD style="border: 0; width: 84.99999999999997pt; padding: 0; margin: 0; ">
                            </TD>
                            <TD style="border: 0; width: 45.0pt; padding: 0; margin: 0; ">
                            </TD>
                        </TR>
                        <TR style="min-height: 3pt; ">
                            <TD style="background-color: #cceeff; border-top: 0pt; padding-top: 2.5pt; border-right: 0pt; border-left: 0pt; padding-left: 0pt; vertical-align: top; padding-bottom: 1pt; border-bottom: 0pt; padding-right: 0pt; ">
                                <P style="margin-left: 0pt; color: #000000; text-indent: 0pt; font-size: 9pt; font-family: Arial, sans-serif; margin-top: 0; margin-bottom: 0; margin-right: 0pt; "><FONT style="font-weight: bold; "><B>Total Investments</B></FONT><FONT> (Cost $249,316,283***) </FONT></P>
                            </TD>
                            <TD style="background-color: #cceeff; border-top: 0pt; padding-top: 2.5pt; border-right: 0pt; border-left: 0pt; padding-left: 0pt; vertical-align: top; padding-bottom: 1pt; border-bottom: 0pt; padding-right: 0pt; ">
                                <P style="margin-left: 0pt; color: #000000; font-size: 9pt; font-family: Arial, sans-serif; margin-top: 0; margin-bottom: 0; text-align: right; margin-right: 0pt; "><FONT>99.1</FONT></P>
                            </TD>
                            <TD style="background-color: #cceeff; border-top: 0pt; padding-top: 2.5pt; border-right: 0pt; border-left: 0pt; padding-left: 0pt; vertical-align: top; padding-bottom: 1pt; border-bottom: 0pt; padding-right: 0pt; ">
                                <P style="margin-left: 11.25pt; color: #000000; text-indent: -11.25pt; font-size: 9pt; font-family: Arial, sans-serif; margin-top: 0; margin-bottom: 0; margin-right: 0pt; "><FONT>%</FONT></P>
                            </TD>
                            <TD style="background-color: #cceeff; border-top: 0pt; padding-top: 2.5pt; border-right: 0pt; border-left: 0pt; padding-left: 0pt; vertical-align: top; padding-bottom: 1pt; border-bottom: 0pt; padding-right: 0pt; ">
                                <P style="margin-left: 0pt; color: #000000; font-size: 9pt; font-family: Arial, sans-serif; margin-top: 0; margin-bottom: 0; text-align: right; margin-right: 0pt; "><FONT>&#160;249,824,879</FONT></P>
                            </TD>
                            <TD style="background-color: #cceeff; border-top: 0pt; padding-top: 0pt; border-right: 0pt; border-left: 0pt; padding-left: 0pt; vertical-align: top; padding-bottom: 0pt; border-bottom: 0pt; padding-right: 0pt; ">
                                <P style="margin-left: 0pt; font-size: 1pt; line-height: 1pt; margin-top: 0pt; margin-bottom: 0; margin-right: 0pt; ">&#8203;</P>
                            </TD>
                        </TR>
                        <TR style="min-height: 3pt; ">
                            <TD style="border-top: 0pt; padding-top: 2.5pt; border-right: 0pt; border-left: 0pt; padding-left: 0pt; vertical-align: top; padding-bottom: 1pt; border-bottom: 0pt; padding-right: 0pt; ">
                                <P style="margin-left: 0pt; color: #000000; text-indent: 0pt; font-size: 9pt; font-family: Arial, sans-serif; margin-top: 0; margin-bottom: 0; margin-right: 0pt; "><FONT style="font-weight: bold; "><B>Other Assets and Liabilities, excluding Loan Payable</B></FONT><FONT> (net) </FONT></P>
                            </TD>
                            <TD style="border-top: 0pt; padding-top: 2.5pt; border-right: 0pt; border-left: 0pt; padding-left: 0pt; vertical-align: top; padding-bottom: 1pt; border-bottom: 0.5pt solid #000000; padding-right: 0pt; ">
                                <P style="margin-left: 0pt; color: #000000; font-size: 9pt; font-family: Arial, sans-serif; margin-top: 0; margin-bottom: 0; text-align: right; margin-right: 0pt; "><FONT>0.9</FONT></P>
                            </TD>
                            <TD style="border-top: 0pt; padding-top: 2.5pt; border-right: 0pt; border-left: 0pt; padding-left: 0pt; vertical-align: top; padding-bottom: 1pt; border-bottom: 0pt; padding-right: 0pt; ">
                                <P style="margin-left: 11.25pt; color: #000000; text-indent: -11.25pt; font-size: 9pt; font-family: Arial, sans-serif; margin-top: 0; margin-bottom: 0; margin-right: 0pt; "><FONT>%</FONT></P>
                            </TD>
                            <TD style="border-top: 0pt; padding-top: 2.5pt; border-right: 0pt; border-left: 0pt; padding-left: 0pt; vertical-align: top; padding-bottom: 1pt; border-bottom: 0.5pt solid #000000; padding-right: 0pt; ">
                                <P style="margin-left: 0pt; color: #000000; font-size: 9pt; font-family: Arial, sans-serif; margin-top: 0; margin-bottom: 0; text-align: right; margin-right: 0pt; "><FONT>2,311,234</FONT></P>
                            </TD>
                            <TD style="border-top: 0pt; padding-top: 0pt; border-right: 0pt; border-left: 0pt; padding-left: 0pt; vertical-align: top; padding-bottom: 0pt; border-bottom: 0pt; padding-right: 0pt; ">
                                <P style="margin-left: 0pt; font-size: 1pt; line-height: 1pt; margin-top: 0pt; margin-bottom: 0; margin-right: 0pt; ">&#8203;</P>
                            </TD>
                        </TR>
                        <TR style="min-height: 3pt; ">
                            <TD style="background-color: #cceeff; border-top: 0pt; padding-top: 2.5pt; border-right: 0pt; border-left: 0pt; padding-left: 0pt; vertical-align: top; padding-bottom: 1pt; border-bottom: 0pt; padding-right: 0pt; ">
                                <P style="margin-left: 0pt; color: #000000; text-indent: 0pt; font-size: 9pt; font-family: Arial, sans-serif; margin-top: 0; margin-bottom: 0; margin-right: 0pt; "><FONT style="font-weight: bold; "><B>Total Managed Assets </B></FONT></P>
                            </TD>
                            <TD style="background-color: #cceeff; border-top: 0.5pt solid #000000; padding-top: 2.5pt; border-right: 0pt; border-left: 0pt; padding-left: 0pt; vertical-align: top; padding-bottom: 1pt; border-bottom: 0.5pt solid #000000; padding-right: 0pt; ">
                                <P style="margin-left: 0pt; color: #000000; font-size: 9pt; font-family: Arial, sans-serif; margin-top: 0; margin-bottom: 0; text-align: right; margin-right: 0pt; "><FONT>100.0</FONT></P>
                            </TD>
                            <TD style="background-color: #cceeff; border-top: 0pt; padding-top: 2.5pt; border-right: 0pt; border-left: 0pt; padding-left: 0pt; vertical-align: top; padding-bottom: 1pt; border-bottom: 0pt; padding-right: 0pt; ">
                                <P style="margin-left: 11.25pt; color: #000000; text-indent: -11.25pt; font-size: 9pt; font-family: Arial, sans-serif; margin-top: 0; margin-bottom: 0; margin-right: 0pt; "><FONT>%</FONT><SUP style="font-size: 7.0pt; line-height: 7.0pt; ">&#8225;</SUP></P>
                            </TD>
                            <TD style="background-color: #cceeff; border-top: 0.5pt solid #000000; padding-top: 2.5pt; border-right: 0pt; border-left: 0pt; padding-left: 0pt; vertical-align: top; padding-bottom: 1pt; border-bottom: 0.5pt solid #000000; padding-right: 0pt; ">
                                <P style="margin-left: 0pt; color: #000000; font-size: 9pt; font-family: Arial, sans-serif; margin-top: 0; margin-bottom: 0; text-align: right; margin-right: 0pt; "><FONT style="float: left; "><FONT>$</FONT></FONT><FONT style="float: right; "><FONT>252,136,113</FONT></FONT><FONT style="font-size: 9pt; ">&#8203;</FONT>                                    <BR clear="all"></P>
                            </TD>
                            <TD style="background-color: #cceeff; border-top: 0pt; padding-top: 0pt; border-right: 0pt; border-left: 0pt; padding-left: 0pt; vertical-align: top; padding-bottom: 0pt; border-bottom: 0pt; padding-right: 0pt; ">
                                <P style="margin-left: 0pt; font-size: 1pt; line-height: 1pt; margin-top: 0pt; margin-bottom: 0; margin-right: 0pt; ">&#8203;</P>
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                        </TR>
                        <TR style="min-height: 3pt; ">
                            <TD colspan="2" style="border-top: 0pt; padding-top: 2.5pt; border-right: 0pt; border-left: 0pt; padding-left: 0pt; vertical-align: top; padding-bottom: 1pt; border-bottom: 0pt; padding-right: 0pt; ">
                                <P style="margin-left: 0pt; color: #000000; text-indent: 0pt; font-size: 9pt; font-family: Arial, sans-serif; margin-top: 0; margin-bottom: 0; margin-right: 0pt; "><FONT style="font-weight: bold; "><B>Loan Principal Balance </B></FONT></P>
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                            <TD style="border-top: 0pt; padding-top: 0pt; border-right: 0pt; border-left: 0pt; padding-left: 0pt; vertical-align: top; padding-bottom: 0pt; border-bottom: 0pt; padding-right: 0pt; ">
                                <P style="margin-left: 0pt; font-size: 1pt; line-height: 1pt; margin-top: 0pt; margin-bottom: 0; margin-right: 0pt; ">&#8203;</P>
                            </TD>
                            <TD style="border-top: 0.5pt solid #000000; padding-top: 2.5pt; border-right: 0pt; border-left: 0pt; padding-left: 0pt; vertical-align: top; padding-bottom: 1pt; border-bottom: 0.5pt solid #000000; padding-right: 0pt; ">
                                <P style="margin-left: 0pt; color: #000000; font-size: 9pt; font-family: Arial, sans-serif; margin-top: 0; margin-bottom: 0; text-align: right; margin-right: 0pt; "><FONT>(91,100,000</FONT></P>
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                            <TD style="border-top: 0pt; padding-top: 2.5pt; border-right: 0pt; border-left: 0pt; padding-left: 0pt; vertical-align: top; padding-bottom: 1pt; border-bottom: 0pt; padding-right: 0pt; ">
                                <P style="margin-left: 0pt; color: #000000; text-indent: 0pt; font-size: 9pt; font-family: Arial, sans-serif; margin-top: 0; margin-bottom: 0; margin-right: 0pt; "><FONT>)</FONT></P>
                            </TD>
                        </TR>
                        <TR style="min-height: 3pt; ">
                            <TD colspan="2" style="background-color: #cceeff; border-top: 0pt; padding-top: 2.5pt; border-right: 0pt; border-left: 0pt; padding-left: 0pt; vertical-align: top; padding-bottom: 1pt; border-bottom: 0pt; padding-right: 0pt; ">
                                <P style="margin-left: 0pt; color: #000000; text-indent: 0pt; font-size: 9pt; font-family: Arial, sans-serif; margin-top: 0; margin-bottom: 0; margin-right: 0pt; "><FONT style="font-weight: bold; "><B>Net Assets Available To Common Stock </B></FONT></P>
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                            <TD style="background-color: #cceeff; border-top: 0pt; padding-top: 0pt; border-right: 0pt; border-left: 0pt; padding-left: 0pt; vertical-align: top; padding-bottom: 0pt; border-bottom: 0pt; padding-right: 0pt; ">
                                <P style="margin-left: 0pt; font-size: 1pt; line-height: 1pt; margin-top: 0pt; margin-bottom: 0; margin-right: 0pt; ">&#8203;</P>
                            </TD>
                            <TD style="background-color: #cceeff; border-top: 0.5pt solid #000000; padding-top: 2.5pt; border-right: 0pt; border-left: 0pt; padding-left: 0pt; vertical-align: top; padding-bottom: 1pt; border-bottom: 2.5pt double #000000; padding-right: 0pt; ">
                                <P style="margin-left: 0pt; color: #000000; font-size: 9pt; font-family: Arial, sans-serif; margin-top: 0; margin-bottom: 0; text-align: right; margin-right: 0pt; "><FONT style="float: left; "><FONT>$</FONT></FONT><FONT style="float: right; "><FONT>161,036,113</FONT></FONT><FONT style="font-size: 9pt; ">&#8203;</FONT>                                    <BR clear="all"></P>
                            </TD>
                            <TD style="background-color: #cceeff; border-top: 0pt; padding-top: 0pt; border-right: 0pt; border-left: 0pt; padding-left: 0pt; vertical-align: top; padding-bottom: 0pt; border-bottom: 0pt; padding-right: 0pt; ">
                                <P style="margin-left: 0pt; font-size: 1pt; line-height: 1pt; margin-top: 0pt; margin-bottom: 0; margin-right: 0pt; ">&#8203;</P>
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                        </TR>
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        <DIV style="page-break-before: always; ">
            <P style="font-size: 5pt; margin: 0pt; ">&#8203;</P>
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        <DIV style="margin: auto; overflow: hidden; width: 675.0pt; position: relative; border-bottom: 2pt solid black; height: 765.0pt; ">
            <DIV style="border: 0pt; padding-top: 0pt; top: 697.5pt; left: 33.75pt; padding-left: 0pt; width: 607.5pt; padding-bottom: 0pt; position: absolute; padding-right: 0pt; height: 33.75pt; ">
                <DIV style="vertical-align: bottom; width: 607.5pt; display: table-cell; height: 33.75pt; ">
                    <!-- [if IE]><TABLE><TR style=" width: 607.5pt; height: 33.75pt;"><TD vAlign="bottom" style=" width: 607.5pt; height: 33.75pt;"><![endif]-->
                    <P style="margin-left: 0pt; color: #000000; text-indent: 0pt; font-size: 12pt; font-family: Times New Roman, Times, serif; margin-top: 0pt; margin-bottom: 0pt; text-align: center; margin-right: 0pt; "><FONT style="font-size: 8pt; font-family: Arial, sans-serif; "> <br></FONT><FONT style="font-size: 10pt; font-family: Arial, sans-serif; ">11</FONT></P>
                    <!-- [if IE]></TD></TR></TABLE><![endif]-->
                </DIV>
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            <DIV style="border: 0pt; padding-top: 0pt; top: 33.75pt; left: 33.75pt; padding-left: 0pt; width: 607.5pt; padding-bottom: 0pt; position: absolute; padding-right: 0pt; height: 86.25pt; ">
                <P style="border-top: 1pt solid ; margin-left: 0pt; color: #000000; font-size: 12pt; font-family: Times New Roman, Times, serif; margin-top: 0pt; margin-bottom: 0pt; text-align: right; margin-right: 0pt; "><FONT style="font-size: 8pt; font-family: Arial, sans-serif; ">&#160;</FONT></P>
                <P style="margin-left: 0pt; color: #000000; font-size: 12pt; font-family: Times New Roman, Times, serif; margin-top: 0pt; margin-bottom: 0pt; text-align: right; margin-right: 0pt; "><FONT style="font-size: 8pt; font-family: Arial, sans-serif; ">Flaherty &amp; Crumrine Preferred and Income Fund Incorporated</FONT></P>
                <P style="margin-left: 0pt; color: #000000; font-size: 12pt; font-family: Times New Roman, Times, serif; margin-top: 0pt; margin-bottom: 0pt; text-align: right; margin-right: 0pt; "><FONT style="font-family: Arial, sans-serif; ">PORTFOLIO OF INVESTMENTS (Continued)</FONT></P>
                <P style="margin-left: 0pt; color: #000000; font-size: 12pt; font-family: Times New Roman, Times, serif; margin-top: 0pt; margin-bottom: 0pt; text-align: right; margin-right: 0pt; "><FONT style="font-size: 10pt; font-family: Arial, sans-serif; ">August 31, 2025&#160;(Unaudited)</FONT></P>
                <P style="margin-left: 0pt; color: #000000; font-size: 12pt; font-family: Times New Roman, Times, serif; margin-top: 0pt; margin-bottom: 0pt; border-bottom: 1pt solid ; text-align: right; margin-right: 0pt; "><FONT style="font-size: 8pt; font-family: Arial, sans-serif; ">&#160;</FONT></P>
            </DIV>
            <DIV style="border: 0pt; padding-top: 0pt; top: 120pt; left: 33.75pt; padding-left: 0pt; width: 607.5pt; padding-bottom: 0pt; position: absolute; padding-right: 0pt; height: 577.5pt; ">
                <P style="color: #000000; font-size: 9pt; border-bottom: 1pt solid ; margin-right: 540pt; margin-left: 0pt; text-indent: 0pt; font-family: Arial, sans-serif; margin-top: 0pt; margin-bottom: 4pt; "><FONT>&#160;</FONT></P>
                <P style="margin-left: 26.25pt; color: #000000; text-indent: -26.25pt; font-size: 7pt; font-family: Arial, sans-serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify; margin-right: 0pt; "><!-- [if IE]><FONT style=" width: 26.25pt; text-indent: -21.0pt; display: inline-block;"><![endif]--><FONT style="width: 26.25pt; text-indent: 0; display: inline-block; "><FONT>&#167;</FONT></FONT><!-- [if IE]></FONT><![endif]--><FONT>Date shown is maturity date unless referencing the end of the fixed-rate period of a fixed-to-floating rate security.</FONT></P>
                <P style="margin-left: 26.25pt; color: #000000; text-indent: -26.25pt; font-size: 7pt; font-family: Arial, sans-serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify; margin-right: 0pt; "><!-- [if IE]><FONT style=" width: 26.25pt; text-indent: -21.0pt; display: inline-block;"><![endif]--><FONT style="width: 26.25pt; text-indent: 0; display: inline-block; "><FONT>*</FONT></FONT><!-- [if IE]></FONT><![endif]--><FONT>Securities eligible for the Dividends Received Deduction and distributing Qualified Dividend Income.</FONT></P>
                <P style="margin-left: 26.25pt; color: #000000; text-indent: -26.25pt; font-size: 7pt; font-family: Arial, sans-serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify; margin-right: 0pt; "><!-- [if IE]><FONT style=" width: 26.25pt; text-indent: -21.0pt; display: inline-block;"><![endif]--><FONT style="width: 26.25pt; text-indent: 0; display: inline-block; "><FONT>**</FONT></FONT><!-- [if IE]></FONT><![endif]--><FONT>Securities distributing Qualified Dividend Income only.</FONT></P>
                <P style="margin-left: 26.25pt; color: #000000; text-indent: -26.25pt; font-size: 7pt; font-family: Arial, sans-serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify; margin-right: 0pt; "><!-- [if IE]><FONT style=" width: 26.25pt; text-indent: -21.0pt; display: inline-block;"><![endif]--><FONT style="width: 26.25pt; text-indent: 0; display: inline-block; "><FONT>***</FONT></FONT><!-- [if IE]></FONT><![endif]--><FONT>Aggregate cost of securities held.</FONT></P>
                <P style="margin-left: 26.25pt; color: #000000; text-indent: -26.25pt; font-size: 7pt; font-family: Arial, sans-serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify; margin-right: 0pt; "><!-- [if IE]><FONT style=" width: 26.25pt; text-indent: -21.0pt; display: inline-block;"><![endif]--><FONT style="width: 26.25pt; text-indent: 0; display: inline-block; "><FONT>****</FONT></FONT><!-- [if IE]></FONT><![endif]--><FONT>Securities exempt from registration under Rule 144A of the Securities Act of 1933. These securities may be resold in transactions exempt from registration to qualified institutional buyers. At August 31, 2025, these securities amounted to $55,919,126 or 22.2% of total managed assets.</FONT></P>
                <P style="margin-left: 26.25pt; color: #000000; text-indent: -26.25pt; font-size: 7pt; font-family: Arial, sans-serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify; margin-right: 0pt; "><!-- [if IE]><FONT style=" width: 26.25pt; text-indent: -21.0pt; display: inline-block;"><![endif]--><FONT style="width: 26.25pt; text-indent: 0; display: inline-block; "><SUP style="font-size: 5.0pt; line-height: 5.0pt; ">(1)</SUP></FONT><!-- [if IE]></FONT><![endif]--><FONT>Perpetual security with no stated maturity date.</FONT></P>
                <P style="margin-left: 26.25pt; color: #000000; text-indent: -26.25pt; font-size: 7pt; font-family: Arial, sans-serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify; margin-right: 0pt; "><!-- [if IE]><FONT style=" width: 26.25pt; text-indent: -21.0pt; display: inline-block;"><![endif]--><FONT style="width: 26.25pt; text-indent: 0; display: inline-block; "><SUP style="font-size: 5.0pt; line-height: 5.0pt; ">(2)</SUP></FONT><!-- [if IE]></FONT><![endif]--><FONT>All or a portion of this security is pledged as collateral for the Fund&#8217;s loan. The total value of such securities was $173,365,993 at August 31, 2025.</FONT></P>
                <P style="margin-left: 26.25pt; color: #000000; text-indent: -26.25pt; font-size: 7pt; font-family: Arial, sans-serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify; margin-right: 0pt; "><!-- [if IE]><FONT style=" width: 26.25pt; text-indent: -21.0pt; display: inline-block;"><![endif]--><FONT style="width: 26.25pt; text-indent: 0; display: inline-block; "><SUP style="font-size: 5.0pt; line-height: 5.0pt; ">(3)</SUP></FONT><!-- [if IE]></FONT><![endif]--><FONT>All or a portion of this security has been rehypothecated. The total value of such securities was $87,036,715 at August 31, 2025.</FONT></P>
                <P style="margin-left: 26.25pt; color: #000000; text-indent: -26.25pt; font-size: 7pt; font-family: Arial, sans-serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify; margin-right: 0pt; "><!-- [if IE]><FONT style=" width: 26.25pt; text-indent: -21.0pt; display: inline-block;"><![endif]--><FONT style="width: 26.25pt; text-indent: 0; display: inline-block; "><SUP style="font-size: 5.0pt; line-height: 5.0pt; ">(4)</SUP></FONT><!-- [if IE]></FONT><![endif]--><FONT>Represents the rate in effect as of the reporting date.</FONT></P>
                <P style="margin-left: 26.25pt; color: #000000; text-indent: -26.25pt; font-size: 7pt; font-family: Arial, sans-serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify; margin-right: 0pt; "><!-- [if IE]><FONT style=" width: 26.25pt; text-indent: -21.0pt; display: inline-block;"><![endif]--><FONT style="width: 26.25pt; text-indent: 0; display: inline-block; "><SUP style="font-size: 5.0pt; line-height: 5.0pt; ">(5)</SUP></FONT><!-- [if IE]></FONT><![endif]--><FONT>Foreign Issuer.</FONT></P>
                <P style="margin-left: 26.25pt; color: #000000; text-indent: -26.25pt; font-size: 7pt; font-family: Arial, sans-serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify; margin-right: 0pt; "><!-- [if IE]><FONT style=" width: 26.25pt; text-indent: -21.0pt; display: inline-block;"><![endif]--><FONT style="width: 26.25pt; text-indent: 0; display: inline-block; "><FONT>&#8224;</FONT></FONT><!-- [if IE]></FONT><![endif]--><FONT>A Contingent Capital Security is a hybrid security with contractual loss-absorption characteristics.</FONT></P>
                <P style="margin-left: 26.25pt; color: #000000; text-indent: -26.25pt; font-size: 7pt; font-family: Arial, sans-serif; margin-top: 0pt; margin-bottom: 8pt; text-align: justify; margin-right: 0pt; "><!-- [if IE]><FONT style=" width: 26.25pt; text-indent: -21.0pt; display: inline-block;"><![endif]--><FONT style="width: 26.25pt; text-indent: 0; display: inline-block; "><FONT>&#8225;</FONT></FONT><!-- [if IE]></FONT><![endif]--><FONT>The percentage shown for each investment category is the total value of that category as a percentage of total managed assets.</FONT></P>
                <DIV style="margin-left: 0pt; color: #000000; font-size: 11pt; font-family: Arial, sans-serif; margin-top: 0pt; margin-bottom: 8pt; margin-right: 0pt; ">
                    <TABLE style="width: 606.2500000000001pt; margin-top: 0pt; margin-bottom: 8pt; table-layout: fixed; border-collapse: collapse; ">
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                            </TD>
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                            </TD>
                            <TD style="border: 0; width: 531.2500000000001pt; padding: 0; margin: 0; ">
                            </TD>
                        </TR>
                        <TR style="min-height: 3pt; ">
                            <TD colspan="3" style="border-top: 0pt; padding-top: 1pt; border-right: 0pt; border-left: 0pt; padding-left: 0pt; vertical-align: bottom; padding-bottom: 1pt; border-bottom: 0pt; padding-right: 0pt; ">
                                <P style="margin-left: 26.25pt; color: #000000; text-indent: -26.25pt; font-size: 7pt; font-family: Arial, sans-serif; margin-top: 0; margin-bottom: 0; text-align: justify; margin-right: 0pt; "><FONT style="font-weight: bold; "><B>ABBREVIATIONS:</B></FONT></P>
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                            <TD style="border-top: 0pt; padding-top: 1pt; border-right: 0pt; border-left: 0pt; padding-left: 0pt; vertical-align: bottom; padding-bottom: 1pt; border-bottom: 0pt; padding-right: 0pt; ">
                                <P style="margin-left: 26.25pt; color: #000000; text-indent: -26.25pt; font-size: 7pt; font-family: Arial, sans-serif; margin-top: 0; margin-bottom: 0; text-align: justify; margin-right: 0pt; "><FONT>3ML</FONT></P>
                            </TD>
                            <TD style="border-top: 0pt; padding-top: 1pt; border-right: 0pt; border-left: 0pt; padding-left: 0pt; vertical-align: bottom; padding-bottom: 1pt; border-bottom: 0pt; padding-right: 0pt; ">
                                <P style="margin-left: 0pt; color: #000000; text-indent: 0pt; font-size: 7pt; font-family: Arial, sans-serif; margin-top: 0; margin-bottom: 0; text-align: justify; margin-right: 0pt; "><FONT>&#8212;</FONT></P>
                            </TD>
                            <TD style="border-top: 0pt; padding-top: 1pt; border-right: 0pt; border-left: 0pt; padding-left: 0pt; vertical-align: bottom; padding-bottom: 1pt; border-bottom: 0pt; padding-right: 0pt; ">
                                <P style="margin-left: 26.25pt; color: #000000; text-indent: -26.25pt; font-size: 7pt; font-family: Arial, sans-serif; margin-top: 0; margin-bottom: 0; text-align: justify; margin-right: 0pt; "><FONT>3-Month Intercontinental Exchange (ICE) London Interbank Offered Rate (LIBOR) USD A/360</FONT></P>
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                        <TR style="min-height: 3pt; ">
                            <TD style="border-top: 0pt; padding-top: 1pt; border-right: 0pt; border-left: 0pt; padding-left: 0pt; vertical-align: bottom; padding-bottom: 1pt; border-bottom: 0pt; padding-right: 0pt; ">
                                <P style="margin-left: 26.25pt; color: #000000; text-indent: -26.25pt; font-size: 7pt; font-family: Arial, sans-serif; margin-top: 0; margin-bottom: 0; text-align: justify; margin-right: 0pt; "><FONT>SOFR5Y</FONT></P>
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                            <TD style="border-top: 0pt; padding-top: 1pt; border-right: 0pt; border-left: 0pt; padding-left: 0pt; vertical-align: bottom; padding-bottom: 1pt; border-bottom: 0pt; padding-right: 0pt; ">
                                <P style="margin-left: 0pt; color: #000000; text-indent: 0pt; font-size: 7pt; font-family: Arial, sans-serif; margin-top: 0; margin-bottom: 0; text-align: justify; margin-right: 0pt; "><FONT>&#8212;</FONT></P>
                            </TD>
                            <TD style="border-top: 0pt; padding-top: 1pt; border-right: 0pt; border-left: 0pt; padding-left: 0pt; vertical-align: bottom; padding-bottom: 1pt; border-bottom: 0pt; padding-right: 0pt; ">
                                <P style="margin-left: 26.25pt; color: #000000; text-indent: -26.25pt; font-size: 7pt; font-family: Arial, sans-serif; margin-top: 0; margin-bottom: 0; text-align: justify; margin-right: 0pt; "><FONT>5-year USD ICE Secured Overnight Financing Rate (SOFR) Swap</FONT></P>
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                            <TD style="border-top: 0pt; padding-top: 1pt; border-right: 0pt; border-left: 0pt; padding-left: 0pt; vertical-align: bottom; padding-bottom: 1pt; border-bottom: 0pt; padding-right: 0pt; ">
                                <P style="margin-left: 26.25pt; color: #000000; text-indent: -26.25pt; font-size: 7pt; font-family: Arial, sans-serif; margin-top: 0; margin-bottom: 0; text-align: justify; margin-right: 0pt; "><FONT>SW5</FONT></P>
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                            <TD style="border-top: 0pt; padding-top: 1pt; border-right: 0pt; border-left: 0pt; padding-left: 0pt; vertical-align: bottom; padding-bottom: 1pt; border-bottom: 0pt; padding-right: 0pt; ">
                                <P style="margin-left: 0pt; color: #000000; text-indent: 0pt; font-size: 7pt; font-family: Arial, sans-serif; margin-top: 0; margin-bottom: 0; text-align: justify; margin-right: 0pt; "><FONT>&#8212;</FONT></P>
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                            <TD style="border-top: 0pt; padding-top: 1pt; border-right: 0pt; border-left: 0pt; padding-left: 0pt; vertical-align: bottom; padding-bottom: 1pt; border-bottom: 0pt; padding-right: 0pt; ">
                                <P style="margin-left: 26.25pt; color: #000000; text-indent: -26.25pt; font-size: 7pt; font-family: Arial, sans-serif; margin-top: 0; margin-bottom: 0; text-align: justify; margin-right: 0pt; "><FONT>5-year USD Swap Semiannual 30/360</FONT></P>
                            </TD>
                        </TR>
                        <TR style="min-height: 3pt; ">
                            <TD style="border-top: 0pt; padding-top: 1pt; border-right: 0pt; border-left: 0pt; padding-left: 0pt; vertical-align: bottom; padding-bottom: 1pt; border-bottom: 0pt; padding-right: 0pt; ">
                                <P style="margin-left: 26.25pt; color: #000000; text-indent: -26.25pt; font-size: 7pt; font-family: Arial, sans-serif; margin-top: 0; margin-bottom: 0; text-align: justify; margin-right: 0pt; "><FONT>T5Y</FONT></P>
                            </TD>
                            <TD style="border-top: 0pt; padding-top: 1pt; border-right: 0pt; border-left: 0pt; padding-left: 0pt; vertical-align: bottom; padding-bottom: 1pt; border-bottom: 0pt; padding-right: 0pt; ">
                                <P style="margin-left: 0pt; color: #000000; text-indent: 0pt; font-size: 7pt; font-family: Arial, sans-serif; margin-top: 0; margin-bottom: 0; text-align: justify; margin-right: 0pt; "><FONT>&#8212;</FONT></P>
                            </TD>
                            <TD style="border-top: 0pt; padding-top: 1pt; border-right: 0pt; border-left: 0pt; padding-left: 0pt; vertical-align: bottom; padding-bottom: 1pt; border-bottom: 0pt; padding-right: 0pt; ">
                                <P style="margin-left: 26.25pt; color: #000000; text-indent: -26.25pt; font-size: 7pt; font-family: Arial, sans-serif; margin-top: 0; margin-bottom: 0; text-align: justify; margin-right: 0pt; "><FONT>Federal Reserve H.15 5-Yr Constant Maturity Treasury Semiannual yield</FONT></P>
                            </TD>
                        </TR>
                        <TR style="min-height: 3pt; ">
                            <TD style="border-top: 0pt; padding-top: 1pt; border-right: 0pt; border-left: 0pt; padding-left: 0pt; vertical-align: bottom; padding-bottom: 1pt; border-bottom: 0pt; padding-right: 0pt; ">
                                <P style="margin-left: 26.25pt; color: #000000; text-indent: -26.25pt; font-size: 7pt; font-family: Arial, sans-serif; margin-top: 0; margin-bottom: 0; text-align: justify; margin-right: 0pt; "><FONT>T7Y</FONT></P>
                            </TD>
                            <TD style="border-top: 0pt; padding-top: 1pt; border-right: 0pt; border-left: 0pt; padding-left: 0pt; vertical-align: bottom; padding-bottom: 1pt; border-bottom: 0pt; padding-right: 0pt; ">
                                <P style="margin-left: 0pt; color: #000000; text-indent: 0pt; font-size: 7pt; font-family: Arial, sans-serif; margin-top: 0; margin-bottom: 0; text-align: justify; margin-right: 0pt; "><FONT>&#8212;</FONT></P>
                            </TD>
                            <TD style="border-top: 0pt; padding-top: 1pt; border-right: 0pt; border-left: 0pt; padding-left: 0pt; vertical-align: bottom; padding-bottom: 1pt; border-bottom: 0pt; padding-right: 0pt; ">
                                <P style="margin-left: 26.25pt; color: #000000; text-indent: -26.25pt; font-size: 7pt; font-family: Arial, sans-serif; margin-top: 0; margin-bottom: 0; text-align: justify; margin-right: 0pt; "><FONT>Federal Reserve H.15 7-Yr Constant Maturity Treasury Semiannual yield</FONT></P>
                            </TD>
                        </TR>
                        <TR style="min-height: 3pt; ">
                            <TD style="border-top: 0pt; padding-top: 1pt; border-right: 0pt; border-left: 0pt; padding-left: 0pt; vertical-align: bottom; padding-bottom: 1pt; border-bottom: 0pt; padding-right: 0pt; ">
                                <P style="margin-left: 26.25pt; color: #000000; text-indent: -26.25pt; font-size: 7pt; font-family: Arial, sans-serif; margin-top: 0; margin-bottom: 0; text-align: justify; margin-right: 0pt; "><FONT>T10Y</FONT></P>
                            </TD>
                            <TD style="border-top: 0pt; padding-top: 1pt; border-right: 0pt; border-left: 0pt; padding-left: 0pt; vertical-align: bottom; padding-bottom: 1pt; border-bottom: 0pt; padding-right: 0pt; ">
                                <P style="margin-left: 0pt; color: #000000; text-indent: 0pt; font-size: 7pt; font-family: Arial, sans-serif; margin-top: 0; margin-bottom: 0; text-align: justify; margin-right: 0pt; "><FONT>&#8212;</FONT></P>
                            </TD>
                            <TD style="border-top: 0pt; padding-top: 1pt; border-right: 0pt; border-left: 0pt; padding-left: 0pt; vertical-align: bottom; padding-bottom: 1pt; border-bottom: 0pt; padding-right: 0pt; ">
                                <P style="margin-left: 26.25pt; color: #000000; text-indent: -26.25pt; font-size: 7pt; font-family: Arial, sans-serif; margin-top: 0; margin-bottom: 0; text-align: justify; margin-right: 0pt; "><FONT>Federal Reserve H.15 10-Yr Constant Maturity Treasury Semiannual yield</FONT></P>
                            </TD>
                        </TR>
                        <TR style="min-height: 3pt; ">
                            <TD style="border-top: 0pt; padding-top: 1pt; border-right: 0pt; border-left: 0pt; padding-left: 0pt; vertical-align: bottom; padding-bottom: 1pt; border-bottom: 0pt; padding-right: 0pt; ">
                                <P style="margin-left: 26.25pt; color: #000000; text-indent: -26.25pt; font-size: 7pt; font-family: Arial, sans-serif; margin-top: 0; margin-bottom: 0; text-align: justify; margin-right: 0pt; "><FONT>TSFR3M</FONT></P>
                            </TD>
                            <TD style="border-top: 0pt; padding-top: 1pt; border-right: 0pt; border-left: 0pt; padding-left: 0pt; vertical-align: bottom; padding-bottom: 1pt; border-bottom: 0pt; padding-right: 0pt; ">
                                <P style="margin-left: 0pt; color: #000000; text-indent: 0pt; font-size: 7pt; font-family: Arial, sans-serif; margin-top: 0; margin-bottom: 0; text-align: justify; margin-right: 0pt; "><FONT>&#8212;</FONT></P>
                            </TD>
                            <TD style="border-top: 0pt; padding-top: 1pt; border-right: 0pt; border-left: 0pt; padding-left: 0pt; vertical-align: bottom; padding-bottom: 1pt; border-bottom: 0pt; padding-right: 0pt; ">
                                <P style="margin-left: 26.25pt; color: #000000; text-indent: -26.25pt; font-size: 7pt; font-family: Arial, sans-serif; margin-top: 0; margin-bottom: 0; text-align: justify; margin-right: 0pt; "><FONT>Chicago Mercantile Exchange Inc. (CME) Term SOFR 3-Month</FONT></P>
                            </TD>
                        </TR>
                    </TABLE>
                </DIV>
                <P style="margin-left: 0pt; color: #000000; text-indent: 0pt; font-size: 7pt; font-family: Arial, sans-serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify; margin-right: 0pt; "><FONT>The administrator of U.S. dollar LIBOR, ICE, ceased publication of daily U.S. dollar LIBOR panels after June 30, 2023. For securities where (i) issuers have announced replacement reference rates or (ii) the Adjustable Interest Rate (LIBOR) Act of 2022 was determined by the Adviser to apply, the new reference rate (usually Term SOFR) has been listed as the benchmark. The spread over that benchmark includes any tenor spread adjustment applicable upon benchmark transition. For all other securities, the original reference rate and spread continue to be listed.</FONT></P>
            </DIV>
        </DIV>
        <DIV style="page-break-before: always; ">
            <P style="font-size: 5pt; margin: 0pt; ">&#8203;</P>
        </DIV>
        <DIV style="margin: auto; overflow: hidden; width: 675.0pt; position: relative; border-bottom: 2pt solid black; height: 765.0pt; ">
            <DIV style="border: 0pt; padding-top: 0pt; top: 33.75pt; left: 33.75pt; padding-left: 0pt; width: 607.5pt; padding-bottom: 0pt; position: absolute; padding-right: 0pt; height: 86.25pt; ">
                <P style="border-top: 1pt solid ; color: #000000; font-size: 12pt; margin-right: 0pt; margin-left: 0pt; text-indent: 0pt; font-family: Times New Roman, Times, serif; margin-top: 0pt; margin-bottom: 0pt; "><FONT style="font-size: 8pt; font-family: Arial, sans-serif; ">&#160;</FONT></P>
                <P style="margin-left: 0pt; color: #000000; text-indent: 0pt; font-size: 12pt; font-family: Times New Roman, Times, serif; margin-top: 0pt; margin-bottom: 0pt; margin-right: 0pt; "><FONT style="font-size: 8pt; font-family: Arial, sans-serif; ">Flaherty &amp; Crumrine Preferred and Income Fund Incorporated</FONT></P>
                <P style="margin-left: 0pt; color: #000000; text-indent: 0pt; font-size: 12pt; font-family: Times New Roman, Times, serif; margin-top: 0pt; margin-bottom: 0pt; margin-right: 0pt; "><FONT style="text-transform: uppercase; font-family: Arial, sans-serif; ">Financial Highlights</FONT><SUP style="font-size: 10.0pt; text-transform: uppercase; font-family: Arial, sans-serif; line-height: 10.0pt; ">(1)</SUP></P>
                <P style="margin-left: 0pt; color: #000000; text-indent: 0pt; font-size: 12pt; font-family: Times New Roman, Times, serif; margin-top: 0pt; margin-bottom: 0pt; margin-right: 0pt; "><FONT style="font-size: 10pt; font-family: Arial, sans-serif; ">For the period December 1, 2024 through August 31, 2025 (Unaudited)</FONT></P>
                <P style="margin-left: 0pt; color: #000000; text-indent: 0pt; font-size: 12pt; font-family: Times New Roman, Times, serif; margin-top: 0pt; margin-bottom: 0pt; margin-right: 0pt; "><FONT style="font-size: 10pt; font-family: Arial, sans-serif; ">For a Common Stock share outstanding throughout the period</FONT></P>
                <P style="color: #000000; font-size: 12pt; border-bottom: 1pt solid ; margin-right: 0pt; margin-left: 0pt; text-indent: 0pt; font-family: Times New Roman, Times, serif; margin-top: 0pt; margin-bottom: 0pt; "><FONT style="font-size: 8pt; font-family: Arial, sans-serif; ">&#160;</FONT></P>
            </DIV>
            <DIV style="border: 0pt; padding-top: 0pt; top: 697.5pt; left: 33.75pt; padding-left: 0pt; width: 607.5pt; padding-bottom: 0pt; position: absolute; padding-right: 0pt; height: 33.75pt; ">
                <DIV style="vertical-align: bottom; width: 607.5pt; display: table-cell; height: 33.75pt; ">
                    <!-- [if IE]><TABLE><TR style=" width: 607.5pt; height: 33.75pt;"><TD vAlign="bottom" style=" width: 607.5pt; height: 33.75pt;"><![endif]-->
                    <P style="margin-left: 0pt; color: #000000; text-indent: 0pt; font-size: 12pt; font-family: Times New Roman, Times, serif; margin-top: 0pt; margin-bottom: 0pt; text-align: center; margin-right: 0pt; "><FONT style="font-size: 8pt; font-family: Arial, sans-serif; "> <br></FONT><FONT style="font-size: 10pt; font-family: Arial, sans-serif; ">12</FONT></P>
                    <!-- [if IE]></TD></TR></TABLE><![endif]-->
                </DIV>
            </DIV>
            <DIV style="border: 0pt; padding-top: 0pt; top: 120pt; left: 33.75pt; padding-left: 0pt; width: 607.5pt; padding-bottom: 0pt; position: absolute; padding-right: 0pt; height: 577.5pt; ">
                <DIV style="margin-left: 0pt; color: #000000; font-size: 9pt; font-family: Arial, sans-serif; line-height: 11pt; margin-top: 0pt; margin-bottom: 6pt; text-align: justify; margin-right: 0pt; ">
                    <TABLE style="width: 606.75pt; margin-top: 4pt; margin-bottom: 2pt; table-layout: fixed; border-collapse: collapse; ">
                        <TR style="margin: 0; height: 0; ">
                            <TD style="border: 0; width: 509.25pt; padding: 0; margin: 0; ">
                            </TD>
                            <TD style="border: 0; width: 15.0pt; padding: 0; margin: 0; ">
                            </TD>
                            <TD style="border: 0; width: 60.0pt; padding: 0; margin: 0; ">
                            </TD>
                            <TD style="border: 0; width: 22.5pt; padding: 0; margin: 0; ">
                            </TD>
                        </TR>
                        <TR style="min-height: 3pt; ">
                            <TD style="background-color: #cceeff; border-top: 0pt; padding-top: 1.5pt; border-right: 0pt; border-left: 0pt; padding-left: 0pt; vertical-align: top; padding-bottom: 1.5pt; border-bottom: 0pt; padding-right: 0pt; ">
                                <P style="margin-left: 22.5pt; color: #000000; text-indent: -22.5pt; font-size: 9pt; font-family: Arial, sans-serif; line-height: normal; margin-top: 0; margin-bottom: 0; text-align: left; margin-right: 0pt; "><FONT style="font-weight: bold; "><B>PER SHARE OPERATING PERFORMANCE:&#160;</B></FONT></P>
                            </TD>
                            <TD style="background-color: #cceeff; border-top: 0pt; padding-top: 0pt; border-right: 0pt; border-left: 0pt; padding-left: 0pt; vertical-align: top; padding-bottom: 0pt; border-bottom: 0pt; padding-right: 0pt; ">
                                <P style="margin-left: 0pt; font-size: 1pt; line-height: 1pt; margin-top: 0pt; margin-bottom: 0; margin-right: 0pt; ">&#8203;</P>
                            </TD>
                            <TD style="background-color: #cceeff; border-top: 0pt; padding-top: 0pt; border-right: 0pt; border-left: 0pt; padding-left: 0pt; vertical-align: bottom; padding-bottom: 0pt; border-bottom: 0pt; padding-right: 0pt; ">
                                <P style="margin-left: 0pt; font-size: 1pt; line-height: 1pt; margin-top: 0pt; margin-bottom: 0; margin-right: 0pt; ">&#8203;</P>
                            </TD>
                            <TD style="background-color: #cceeff; border-top: 0pt; padding-top: 0pt; border-right: 0pt; border-left: 0pt; padding-left: 0pt; vertical-align: bottom; padding-bottom: 0pt; border-bottom: 0pt; padding-right: 0pt; ">
                                <P style="margin-left: 0pt; font-size: 1pt; line-height: 1pt; margin-top: 0pt; margin-bottom: 0; margin-right: 0pt; ">&#8203;</P>
                            </TD>
                        </TR>
                        <TR style="min-height: 3pt; ">
                            <TD style="border-top: 0pt; padding-top: 1.5pt; border-right: 0pt; border-left: 0pt; padding-left: 0pt; vertical-align: top; padding-bottom: 1.5pt; border-bottom: 0pt; padding-right: 0pt; ">
                                <P style="margin-left: 22.5pt; color: #000000; text-indent: -22.5pt; font-size: 9pt; font-family: Arial, sans-serif; line-height: normal; margin-top: 0; margin-bottom: 0; text-align: left; margin-right: 0pt; "><FONT>Net asset value, beginning of period </FONT></P>
                            </TD>
                            <TD style="border-top: 0pt; padding-top: 0pt; border-right: 0pt; border-left: 0pt; padding-left: 0pt; vertical-align: top; padding-bottom: 0pt; border-bottom: 0pt; padding-right: 0pt; ">
                                <P style="margin-left: 0pt; font-size: 1pt; line-height: 1pt; margin-top: 0pt; margin-bottom: 0; margin-right: 0pt; ">&#8203;</P>
                            </TD>
                            <TD style="border-top: 0pt; padding-top: 1.5pt; border-right: 0pt; border-left: 0pt; padding-left: 0pt; vertical-align: bottom; padding-bottom: 1.5pt; border-bottom: 0.5pt solid #000000; padding-right: 0pt; ">
                                <P style="margin-left: 0pt; color: #000000; font-size: 9pt; font-family: Arial, sans-serif; line-height: normal; margin-top: 0; margin-bottom: 0; text-align: right; margin-right: 0pt; "><FONT style="float: left; "><FONT>$</FONT></FONT><FONT style="float: right; "><FONT>12.46</FONT></FONT><FONT style="font-size: 9pt; ">&#8203;</FONT>                                    <BR clear="all"></P>
                            </TD>
                            <TD style="border-top: 0pt; padding-top: 0pt; border-right: 0pt; border-left: 0pt; padding-left: 0pt; vertical-align: bottom; padding-bottom: 0pt; border-bottom: 0pt; padding-right: 0pt; ">
                                <P style="margin-left: 0pt; font-size: 1pt; line-height: 1pt; margin-top: 0pt; margin-bottom: 0; margin-right: 0pt; ">&#8203;</P>
                            </TD>
                        </TR>
                        <TR style="min-height: 3pt; ">
                            <TD style="background-color: #cceeff; border-top: 0pt; padding-top: 1.5pt; border-right: 0pt; border-left: 0pt; padding-left: 0pt; vertical-align: top; padding-bottom: 1.5pt; border-bottom: 0pt; padding-right: 0pt; ">
                                <P style="margin-left: 22.5pt; color: #000000; text-indent: -22.5pt; font-size: 9pt; font-family: Arial, sans-serif; line-height: normal; margin-top: 0; margin-bottom: 0; text-align: left; margin-right: 0pt; "><FONT style="font-weight: bold; "><B>INVESTMENT OPERATIONS:&#160;</B></FONT></P>
                            </TD>
                            <TD style="background-color: #cceeff; border-top: 0pt; padding-top: 0pt; border-right: 0pt; border-left: 0pt; padding-left: 0pt; vertical-align: top; padding-bottom: 0pt; border-bottom: 0pt; padding-right: 0pt; ">
                                <P style="margin-left: 0pt; font-size: 1pt; line-height: 1pt; margin-top: 0pt; margin-bottom: 0; margin-right: 0pt; ">&#8203;</P>
                            </TD>
                            <TD style="background-color: #cceeff; border-top: 0.5pt solid #000000; padding-top: 0pt; border-right: 0pt; border-left: 0pt; padding-left: 0pt; vertical-align: bottom; padding-bottom: 0pt; border-bottom: 0pt; padding-right: 0pt; ">
                                <P style="margin-left: 0pt; font-size: 1pt; line-height: 1pt; margin-top: 0pt; margin-bottom: 0; margin-right: 0pt; ">&#8203;</P>
                            </TD>
                            <TD style="background-color: #cceeff; border-top: 0pt; padding-top: 0pt; border-right: 0pt; border-left: 0pt; padding-left: 0pt; vertical-align: bottom; padding-bottom: 0pt; border-bottom: 0pt; padding-right: 0pt; ">
                                <P style="margin-left: 0pt; font-size: 1pt; line-height: 1pt; margin-top: 0pt; margin-bottom: 0; margin-right: 0pt; ">&#8203;</P>
                            </TD>
                        </TR>
                        <TR style="min-height: 3pt; ">
                            <TD style="border-top: 0pt; padding-top: 1.5pt; border-right: 0pt; border-left: 0pt; padding-left: 0pt; vertical-align: top; padding-bottom: 1.5pt; border-bottom: 0pt; padding-right: 0pt; ">
                                <P style="margin-left: 22.5pt; color: #000000; text-indent: -22.5pt; font-size: 9pt; font-family: Arial, sans-serif; line-height: normal; margin-top: 0; margin-bottom: 0; text-align: left; margin-right: 0pt; "><FONT>Net investment income </FONT></P>
                            </TD>
                            <TD style="border-top: 0pt; padding-top: 0pt; border-right: 0pt; border-left: 0pt; padding-left: 0pt; vertical-align: top; padding-bottom: 0pt; border-bottom: 0pt; padding-right: 0pt; ">
                                <P style="margin-left: 0pt; font-size: 1pt; line-height: 1pt; margin-top: 0pt; margin-bottom: 0; margin-right: 0pt; ">&#8203;</P>
                            </TD>
                            <TD style="border-top: 0pt; padding-top: 1.5pt; border-right: 0pt; border-left: 0pt; padding-left: 0pt; vertical-align: bottom; padding-bottom: 1.5pt; border-bottom: 0pt; padding-right: 0pt; ">
                                <P style="margin-left: 0pt; color: #000000; font-size: 9pt; font-family: Arial, sans-serif; line-height: normal; margin-top: 0; margin-bottom: 0; text-align: right; margin-right: 0pt; "><FONT>0.57</FONT></P>
                            </TD>
                            <TD style="border-top: 0pt; padding-top: 0pt; border-right: 0pt; border-left: 0pt; padding-left: 0pt; vertical-align: bottom; padding-bottom: 0pt; border-bottom: 0pt; padding-right: 0pt; ">
                                <P style="margin-left: 0pt; font-size: 1pt; line-height: 1pt; margin-top: 0pt; margin-bottom: 0; margin-right: 0pt; ">&#8203;</P>
                            </TD>
                        </TR>
                        <TR style="min-height: 3pt; ">
                            <TD style="background-color: #cceeff; border-top: 0pt; padding-top: 1.5pt; border-right: 0pt; border-left: 0pt; padding-left: 0pt; vertical-align: top; padding-bottom: 1.5pt; border-bottom: 0pt; padding-right: 0pt; ">
                                <P style="margin-left: 22.5pt; color: #000000; text-indent: -22.5pt; font-size: 9pt; font-family: Arial, sans-serif; line-height: normal; margin-top: 0; margin-bottom: 0; text-align: left; margin-right: 0pt; "><FONT>Net realized and unrealized gain/(loss) on investments </FONT></P>
                            </TD>
                            <TD style="background-color: #cceeff; border-top: 0pt; padding-top: 0pt; border-right: 0pt; border-left: 0pt; padding-left: 0pt; vertical-align: top; padding-bottom: 0pt; border-bottom: 0pt; padding-right: 0pt; ">
                                <P style="margin-left: 0pt; font-size: 1pt; line-height: 1pt; margin-top: 0pt; margin-bottom: 0; margin-right: 0pt; ">&#8203;</P>
                            </TD>
                            <TD style="background-color: #cceeff; border-top: 0pt; padding-top: 1.5pt; border-right: 0pt; border-left: 0pt; padding-left: 0pt; vertical-align: bottom; padding-bottom: 1.5pt; border-bottom: 0.5pt solid #000000; padding-right: 0pt; ">
                                <P style="margin-left: 0pt; color: #000000; font-size: 9pt; font-family: Arial, sans-serif; line-height: normal; margin-top: 0; margin-bottom: 0; text-align: right; margin-right: 0pt; "><FONT>0.08</FONT></P>
                            </TD>
                            <TD style="background-color: #cceeff; border-top: 0pt; padding-top: 0pt; border-right: 0pt; border-left: 0pt; padding-left: 0pt; vertical-align: bottom; padding-bottom: 0pt; border-bottom: 0pt; padding-right: 0pt; ">
                                <P style="margin-left: 0pt; font-size: 1pt; line-height: 1pt; margin-top: 0pt; margin-bottom: 0; margin-right: 0pt; ">&#8203;</P>
                            </TD>
                        </TR>
                        <TR style="min-height: 3pt; ">
                            <TD style="border-top: 0pt; padding-top: 1.5pt; border-right: 0pt; border-left: 0pt; padding-left: 0pt; vertical-align: top; padding-bottom: 1.5pt; border-bottom: 0pt; padding-right: 0pt; ">
                                <P style="margin-left: 22.5pt; color: #000000; text-indent: -22.5pt; font-size: 9pt; font-family: Arial, sans-serif; line-height: normal; margin-top: 0; margin-bottom: 0; text-align: left; margin-right: 0pt; "><FONT>Total from investment operations </FONT></P>
                            </TD>
                            <TD style="border-top: 0pt; padding-top: 0pt; border-right: 0pt; border-left: 0pt; padding-left: 0pt; vertical-align: top; padding-bottom: 0pt; border-bottom: 0pt; padding-right: 0pt; ">
                                <P style="margin-left: 0pt; font-size: 1pt; line-height: 1pt; margin-top: 0pt; margin-bottom: 0; margin-right: 0pt; ">&#8203;</P>
                            </TD>
                            <TD style="border-top: 0.5pt solid #000000; padding-top: 1.5pt; border-right: 0pt; border-left: 0pt; padding-left: 0pt; vertical-align: bottom; padding-bottom: 1.5pt; border-bottom: 0.5pt solid #000000; padding-right: 0pt; ">
                                <P style="margin-left: 0pt; color: #000000; font-size: 9pt; font-family: Arial, sans-serif; line-height: normal; margin-top: 0; margin-bottom: 0; text-align: right; margin-right: 0pt; "><FONT>0.65</FONT></P>
                            </TD>
                            <TD style="border-top: 0pt; padding-top: 0pt; border-right: 0pt; border-left: 0pt; padding-left: 0pt; vertical-align: bottom; padding-bottom: 0pt; border-bottom: 0pt; padding-right: 0pt; ">
                                <P style="margin-left: 0pt; font-size: 1pt; line-height: 1pt; margin-top: 0pt; margin-bottom: 0; margin-right: 0pt; ">&#8203;</P>
                            </TD>
                        </TR>
                        <TR style="min-height: 3pt; ">
                            <TD style="background-color: #cceeff; border-top: 0pt; padding-top: 1.5pt; border-right: 0pt; border-left: 0pt; padding-left: 0pt; vertical-align: top; padding-bottom: 1.5pt; border-bottom: 0pt; padding-right: 0pt; ">
                                <P style="margin-left: 22.5pt; color: #000000; text-indent: -22.5pt; font-size: 9pt; font-family: Arial, sans-serif; line-height: normal; margin-top: 0; margin-bottom: 0; text-align: left; margin-right: 0pt; "><FONT style="font-weight: bold; "><B>DISTRIBUTIONS TO COMMON STOCK SHAREHOLDERS:&#160;</B></FONT></P>
                            </TD>
                            <TD style="background-color: #cceeff; border-top: 0pt; padding-top: 0pt; border-right: 0pt; border-left: 0pt; padding-left: 0pt; vertical-align: top; padding-bottom: 0pt; border-bottom: 0pt; padding-right: 0pt; ">
                                <P style="margin-left: 0pt; font-size: 1pt; line-height: 1pt; margin-top: 0pt; margin-bottom: 0; margin-right: 0pt; ">&#8203;</P>
                            </TD>
                            <TD style="background-color: #cceeff; border-top: 0.5pt solid #000000; padding-top: 0pt; border-right: 0pt; border-left: 0pt; padding-left: 0pt; vertical-align: bottom; padding-bottom: 0pt; border-bottom: 0pt; padding-right: 0pt; ">
                                <P style="margin-left: 0pt; font-size: 1pt; line-height: 1pt; margin-top: 0pt; margin-bottom: 0; margin-right: 0pt; ">&#8203;</P>
                            </TD>
                            <TD style="background-color: #cceeff; border-top: 0pt; padding-top: 0pt; border-right: 0pt; border-left: 0pt; padding-left: 0pt; vertical-align: bottom; padding-bottom: 0pt; border-bottom: 0pt; padding-right: 0pt; ">
                                <P style="margin-left: 0pt; font-size: 1pt; line-height: 1pt; margin-top: 0pt; margin-bottom: 0; margin-right: 0pt; ">&#8203;</P>
                            </TD>
                        </TR>
                        <TR style="min-height: 3pt; ">
                            <TD style="border-top: 0pt; padding-top: 1.5pt; border-right: 0pt; border-left: 0pt; padding-left: 0pt; vertical-align: top; padding-bottom: 1.5pt; border-bottom: 0pt; padding-right: 0pt; ">
                                <P style="margin-left: 22.5pt; color: #000000; text-indent: -22.5pt; font-size: 9pt; font-family: Arial, sans-serif; line-height: normal; margin-top: 0; margin-bottom: 0; text-align: left; margin-right: 0pt; "><FONT>From net investment income </FONT></P>
                            </TD>
                            <TD style="border-top: 0pt; padding-top: 0pt; border-right: 0pt; border-left: 0pt; padding-left: 0pt; vertical-align: top; padding-bottom: 0pt; border-bottom: 0pt; padding-right: 0pt; ">
                                <P style="margin-left: 0pt; font-size: 1pt; line-height: 1pt; margin-top: 0pt; margin-bottom: 0; margin-right: 0pt; ">&#8203;</P>
                            </TD>
                            <TD style="border-top: 0pt; padding-top: 1.5pt; border-right: 0pt; border-left: 0pt; padding-left: 0pt; vertical-align: bottom; padding-bottom: 1.5pt; border-bottom: 0.5pt solid #000000; padding-right: 0pt; ">
                                <P style="margin-left: 0pt; color: #000000; font-size: 9pt; font-family: Arial, sans-serif; line-height: normal; margin-top: 0; margin-bottom: 0; text-align: right; margin-right: 0pt; "><FONT>(0.58</FONT></P>
                            </TD>
                            <TD style="border-top: 0pt; padding-top: 1.5pt; border-right: 0pt; border-left: 0pt; padding-left: 0pt; vertical-align: bottom; padding-bottom: 1.5pt; border-bottom: 0pt; padding-right: 0pt; ">
                                <P style="margin-left: 22.5pt; color: #000000; text-indent: -22.5pt; font-size: 9pt; font-family: Arial, sans-serif; line-height: normal; margin-top: 0; margin-bottom: 0; text-align: left; margin-right: 0pt; "><FONT>)</FONT></P>
                            </TD>
                        </TR>
                        <TR style="min-height: 3pt; ">
                            <TD style="background-color: #cceeff; border-top: 0pt; padding-top: 1.5pt; border-right: 0pt; border-left: 0pt; padding-left: 0pt; vertical-align: top; padding-bottom: 1.5pt; border-bottom: 0pt; padding-right: 0pt; ">
                                <P style="margin-left: 22.5pt; color: #000000; text-indent: -22.5pt; font-size: 9pt; font-family: Arial, sans-serif; line-height: normal; margin-top: 0; margin-bottom: 0; text-align: left; margin-right: 0pt; "><FONT>Total distributions to Common Stock Shareholders </FONT></P>
                            </TD>
                            <TD style="background-color: #cceeff; border-top: 0pt; padding-top: 0pt; border-right: 0pt; border-left: 0pt; padding-left: 0pt; vertical-align: top; padding-bottom: 0pt; border-bottom: 0pt; padding-right: 0pt; ">
                                <P style="margin-left: 0pt; font-size: 1pt; line-height: 1pt; margin-top: 0pt; margin-bottom: 0; margin-right: 0pt; ">&#8203;</P>
                            </TD>
                            <TD style="background-color: #cceeff; border-top: 0.5pt solid #000000; padding-top: 1.5pt; border-right: 0pt; border-left: 0pt; padding-left: 0pt; vertical-align: bottom; padding-bottom: 1.5pt; border-bottom: 0.5pt solid #000000; padding-right: 0pt; ">
                                <P style="margin-left: 0pt; color: #000000; font-size: 9pt; font-family: Arial, sans-serif; line-height: normal; margin-top: 0; margin-bottom: 0; text-align: right; margin-right: 0pt; "><FONT>(0.58</FONT></P>
                            </TD>
                            <TD style="background-color: #cceeff; border-top: 0pt; padding-top: 1.5pt; border-right: 0pt; border-left: 0pt; padding-left: 0pt; vertical-align: bottom; padding-bottom: 1.5pt; border-bottom: 0pt; padding-right: 0pt; ">
                                <P style="margin-left: 22.5pt; color: #000000; text-indent: -22.5pt; font-size: 9pt; font-family: Arial, sans-serif; line-height: normal; margin-top: 0; margin-bottom: 0; text-align: left; margin-right: 0pt; "><FONT>)</FONT></P>
                            </TD>
                        </TR>
                        <TR style="min-height: 3pt; ">
                            <TD style="border-top: 0pt; padding-top: 1.5pt; border-right: 0pt; border-left: 0pt; padding-left: 0pt; vertical-align: top; padding-bottom: 1.5pt; border-bottom: 0pt; padding-right: 0pt; ">
                                <P style="margin-left: 22.5pt; color: #000000; text-indent: -22.5pt; font-size: 9pt; font-family: Arial, sans-serif; line-height: normal; margin-top: 0; margin-bottom: 0; text-align: left; margin-right: 0pt; "><FONT>Net asset value, end of period </FONT></P>
                            </TD>
                            <TD style="border-top: 0pt; padding-top: 0pt; border-right: 0pt; border-left: 0pt; padding-left: 0pt; vertical-align: top; padding-bottom: 0pt; border-bottom: 0pt; padding-right: 0pt; ">
                                <P style="margin-left: 0pt; font-size: 1pt; line-height: 1pt; margin-top: 0pt; margin-bottom: 0; margin-right: 0pt; ">&#8203;</P>
                            </TD>
                            <TD style="border-top: 0.5pt solid #000000; padding-top: 1.5pt; border-right: 0pt; border-left: 0pt; padding-left: 0pt; vertical-align: bottom; padding-bottom: 1.5pt; border-bottom: 2.5pt double #000000; padding-right: 0pt; ">
                                <P style="margin-left: 0pt; color: #000000; font-size: 9pt; font-family: Arial, sans-serif; line-height: normal; margin-top: 0; margin-bottom: 0; text-align: right; margin-right: 0pt; "><FONT style="float: left; "><FONT>$</FONT></FONT><FONT style="float: right; "><FONT>12.53</FONT></FONT><FONT style="font-size: 9pt; ">&#8203;</FONT>                                    <BR clear="all"></P>
                            </TD>
                            <TD style="border-top: 0pt; padding-top: 0pt; border-right: 0pt; border-left: 0pt; padding-left: 0pt; vertical-align: bottom; padding-bottom: 0pt; border-bottom: 0pt; padding-right: 0pt; ">
                                <P style="margin-left: 0pt; font-size: 1pt; line-height: 1pt; margin-top: 0pt; margin-bottom: 0; margin-right: 0pt; ">&#8203;</P>
                            </TD>
                        </TR>
                        <TR style="min-height: 3pt; ">
                            <TD style="background-color: #cceeff; border-top: 0pt; padding-top: 1.5pt; border-right: 0pt; border-left: 0pt; padding-left: 0pt; vertical-align: top; padding-bottom: 1.5pt; border-bottom: 0pt; padding-right: 0pt; ">
                                <P style="margin-left: 22.5pt; color: #000000; text-indent: -22.5pt; font-size: 9pt; font-family: Arial, sans-serif; line-height: normal; margin-top: 0; margin-bottom: 0; text-align: left; margin-right: 0pt; "><FONT>Market value, end of period </FONT></P>
                            </TD>
                            <TD style="background-color: #cceeff; border-top: 0pt; padding-top: 0pt; border-right: 0pt; border-left: 0pt; padding-left: 0pt; vertical-align: top; padding-bottom: 0pt; border-bottom: 0pt; padding-right: 0pt; ">
                                <P style="margin-left: 0pt; font-size: 1pt; line-height: 1pt; margin-top: 0pt; margin-bottom: 0; margin-right: 0pt; ">&#8203;</P>
                            </TD>
                            <TD style="background-color: #cceeff; border-top: 2.5pt double #000000; padding-top: 1.5pt; border-right: 0pt; border-left: 0pt; padding-left: 0pt; vertical-align: bottom; padding-bottom: 1.5pt; border-bottom: 2.5pt double #000000; padding-right: 0pt; ">
                                <P style="margin-left: 0pt; color: #000000; font-size: 9pt; font-family: Arial, sans-serif; line-height: normal; margin-top: 0; margin-bottom: 0; text-align: right; margin-right: 0pt; "><FONT style="float: left; "><FONT>$</FONT></FONT><FONT style="float: right; "><FONT>11.49</FONT></FONT><FONT style="font-size: 9pt; ">&#8203;</FONT>                                    <BR clear="all"></P>
                            </TD>
                            <TD style="background-color: #cceeff; border-top: 0pt; padding-top: 0pt; border-right: 0pt; border-left: 0pt; padding-left: 0pt; vertical-align: bottom; padding-bottom: 0pt; border-bottom: 0pt; padding-right: 0pt; ">
                                <P style="margin-left: 0pt; font-size: 1pt; line-height: 1pt; margin-top: 0pt; margin-bottom: 0; margin-right: 0pt; ">&#8203;</P>
                            </TD>
                        </TR>
                        <TR style="min-height: 3pt; ">
                            <TD style="border-top: 0pt; padding-top: 1.5pt; border-right: 0pt; border-left: 0pt; padding-left: 0pt; vertical-align: top; padding-bottom: 1.5pt; border-bottom: 0pt; padding-right: 0pt; ">
                                <P style="margin-left: 22.5pt; color: #000000; text-indent: -22.5pt; font-size: 9pt; font-family: Arial, sans-serif; line-height: normal; margin-top: 0; margin-bottom: 0; text-align: left; margin-right: 0pt; "><FONT>Common Stock shares outstanding, end of period </FONT></P>
                            </TD>
                            <TD style="border-top: 0pt; padding-top: 0pt; border-right: 0pt; border-left: 0pt; padding-left: 0pt; vertical-align: top; padding-bottom: 0pt; border-bottom: 0pt; padding-right: 0pt; ">
                                <P style="margin-left: 0pt; font-size: 1pt; line-height: 1pt; margin-top: 0pt; margin-bottom: 0; margin-right: 0pt; ">&#8203;</P>
                            </TD>
                            <TD style="border-top: 2.5pt double #000000; padding-top: 1.5pt; border-right: 0pt; border-left: 0pt; padding-left: 0pt; vertical-align: bottom; padding-bottom: 1.5pt; border-bottom: 2.5pt double #000000; padding-right: 0pt; ">
                                <P style="margin-left: 0pt; color: #000000; font-size: 9pt; font-family: Arial, sans-serif; line-height: normal; margin-top: 0; margin-bottom: 0; text-align: right; margin-right: 0pt; "><FONT>12,852,556</FONT></P>
                            </TD>
                            <TD style="border-top: 0pt; padding-top: 0pt; border-right: 0pt; border-left: 0pt; padding-left: 0pt; vertical-align: bottom; padding-bottom: 0pt; border-bottom: 0pt; padding-right: 0pt; ">
                                <P style="margin-left: 0pt; font-size: 1pt; line-height: 1pt; margin-top: 0pt; margin-bottom: 0; margin-right: 0pt; ">&#8203;</P>
                            </TD>
                        </TR>
                        <TR style="min-height: 3pt; ">
                            <TD style="background-color: #cceeff; border-top: 0pt; padding-top: 1.5pt; border-right: 0pt; border-left: 0pt; padding-left: 0pt; vertical-align: top; padding-bottom: 1.5pt; border-bottom: 0pt; padding-right: 0pt; ">
                                <P style="margin-left: 22.5pt; color: #000000; text-indent: -22.5pt; font-size: 9pt; font-family: Arial, sans-serif; line-height: normal; margin-top: 0; margin-bottom: 0; text-align: left; margin-right: 0pt; "><FONT style="font-weight: bold; "><B>RATIOS TO AVERAGE NET ASSETS AVAILABLE TO COMMON STOCK SHAREHOLDERS:&#160;</B></FONT></P>
                            </TD>
                            <TD style="background-color: #cceeff; border-top: 0pt; padding-top: 0pt; border-right: 0pt; border-left: 0pt; padding-left: 0pt; vertical-align: top; padding-bottom: 0pt; border-bottom: 0pt; padding-right: 0pt; ">
                                <P style="margin-left: 0pt; font-size: 1pt; line-height: 1pt; margin-top: 0pt; margin-bottom: 0; margin-right: 0pt; ">&#8203;</P>
                            </TD>
                            <TD style="background-color: #cceeff; border-top: 2.5pt double #000000; padding-top: 0pt; border-right: 0pt; border-left: 0pt; padding-left: 0pt; vertical-align: bottom; padding-bottom: 0pt; border-bottom: 0pt; padding-right: 0pt; ">
                                <P style="margin-left: 0pt; font-size: 1pt; line-height: 1pt; margin-top: 0pt; margin-bottom: 0; margin-right: 0pt; ">&#8203;</P>
                            </TD>
                            <TD style="background-color: #cceeff; border-top: 0pt; padding-top: 0pt; border-right: 0pt; border-left: 0pt; padding-left: 0pt; vertical-align: bottom; padding-bottom: 0pt; border-bottom: 0pt; padding-right: 0pt; ">
                                <P style="margin-left: 0pt; font-size: 1pt; line-height: 1pt; margin-top: 0pt; margin-bottom: 0; margin-right: 0pt; ">&#8203;</P>
                            </TD>
                        </TR>
                        <TR style="min-height: 3pt; ">
                            <TD style="border-top: 0pt; padding-top: 1.5pt; border-right: 0pt; border-left: 0pt; padding-left: 0pt; vertical-align: top; padding-bottom: 1.5pt; border-bottom: 0pt; padding-right: 0pt; ">
                                <P style="margin-left: 33.75pt; color: #000000; text-indent: -22.5pt; font-size: 9pt; font-family: Arial, sans-serif; line-height: normal; margin-top: 0; margin-bottom: 0; text-align: left; margin-right: 0pt; "><FONT>Net investment income&#8224; </FONT></P>
                            </TD>
                            <TD style="border-top: 0pt; padding-top: 0pt; border-right: 0pt; border-left: 0pt; padding-left: 0pt; vertical-align: top; padding-bottom: 0pt; border-bottom: 0pt; padding-right: 0pt; ">
                                <P style="margin-left: 0pt; font-size: 1pt; line-height: 1pt; margin-top: 0pt; margin-bottom: 0; margin-right: 0pt; ">&#8203;</P>
                            </TD>
                            <TD style="border-top: 0pt; padding-top: 1.5pt; border-right: 0pt; border-left: 0pt; padding-left: 0pt; vertical-align: bottom; padding-bottom: 1.5pt; border-bottom: 0pt; padding-right: 0pt; ">
                                <P style="margin-left: 0pt; color: #000000; font-size: 9pt; font-family: Arial, sans-serif; line-height: normal; margin-top: 0; margin-bottom: 0; text-align: right; margin-right: 0pt; "><FONT>6.16</FONT></P>
                            </TD>
                            <TD style="border-top: 0pt; padding-top: 1.5pt; border-right: 0pt; border-left: 0pt; padding-left: 0pt; vertical-align: bottom; padding-bottom: 1.5pt; border-bottom: 0pt; padding-right: 0pt; ">
                                <P style="margin-left: 22.5pt; color: #000000; text-indent: -22.5pt; font-size: 9pt; font-family: Arial, sans-serif; line-height: normal; margin-top: 0; margin-bottom: 0; text-align: left; margin-right: 0pt; "><FONT>%*</FONT></P>
                            </TD>
                        </TR>
                        <TR style="min-height: 3pt; ">
                            <TD style="background-color: #cceeff; border-top: 0pt; padding-top: 1.5pt; border-right: 0pt; border-left: 0pt; padding-left: 0pt; vertical-align: top; padding-bottom: 1.5pt; border-bottom: 0pt; padding-right: 0pt; ">
                                <P style="margin-left: 33.75pt; color: #000000; text-indent: -22.5pt; font-size: 9pt; font-family: Arial, sans-serif; line-height: normal; margin-top: 0; margin-bottom: 0; text-align: left; margin-right: 0pt; "><FONT>Operating expenses including interest expense </FONT></P>
                            </TD>
                            <TD style="background-color: #cceeff; border-top: 0pt; padding-top: 0pt; border-right: 0pt; border-left: 0pt; padding-left: 0pt; vertical-align: top; padding-bottom: 0pt; border-bottom: 0pt; padding-right: 0pt; ">
                                <P style="margin-left: 0pt; font-size: 1pt; line-height: 1pt; margin-top: 0pt; margin-bottom: 0; margin-right: 0pt; ">&#8203;</P>
                            </TD>
                            <TD style="background-color: #cceeff; border-top: 0pt; padding-top: 1.5pt; border-right: 0pt; border-left: 0pt; padding-left: 0pt; vertical-align: bottom; padding-bottom: 1.5pt; border-bottom: 0pt; padding-right: 0pt; ">
                                <P style="margin-left: 0pt; color: #000000; font-size: 9pt; font-family: Arial, sans-serif; line-height: normal; margin-top: 0; margin-bottom: 0; text-align: right; margin-right: 0pt; "><FONT>4.37</FONT></P>
                            </TD>
                            <TD style="background-color: #cceeff; border-top: 0pt; padding-top: 1.5pt; border-right: 0pt; border-left: 0pt; padding-left: 0pt; vertical-align: bottom; padding-bottom: 1.5pt; border-bottom: 0pt; padding-right: 0pt; ">
                                <P style="margin-left: 22.5pt; color: #000000; text-indent: -22.5pt; font-size: 9pt; font-family: Arial, sans-serif; line-height: normal; margin-top: 0; margin-bottom: 0; text-align: left; margin-right: 0pt; "><FONT>%*</FONT></P>
                            </TD>
                        </TR>
                        <TR style="min-height: 3pt; ">
                            <TD style="border-top: 0pt; padding-top: 1.5pt; border-right: 0pt; border-left: 0pt; padding-left: 0pt; vertical-align: top; padding-bottom: 1.5pt; border-bottom: 0pt; padding-right: 0pt; ">
                                <P style="margin-left: 33.75pt; color: #000000; text-indent: -22.5pt; font-size: 9pt; font-family: Arial, sans-serif; line-height: normal; margin-top: 0; margin-bottom: 0; text-align: left; margin-right: 0pt; "><FONT>Operating expenses excluding interest expense </FONT></P>
                            </TD>
                            <TD style="border-top: 0pt; padding-top: 0pt; border-right: 0pt; border-left: 0pt; padding-left: 0pt; vertical-align: top; padding-bottom: 0pt; border-bottom: 0pt; padding-right: 0pt; ">
                                <P style="margin-left: 0pt; font-size: 1pt; line-height: 1pt; margin-top: 0pt; margin-bottom: 0; margin-right: 0pt; ">&#8203;</P>
                            </TD>
                            <TD style="border-top: 0pt; padding-top: 1.5pt; border-right: 0pt; border-left: 0pt; padding-left: 0pt; vertical-align: bottom; padding-bottom: 1.5pt; border-bottom: 0pt; padding-right: 0pt; ">
                                <P style="margin-left: 0pt; color: #000000; font-size: 9pt; font-family: Arial, sans-serif; line-height: normal; margin-top: 0; margin-bottom: 0; text-align: right; margin-right: 0pt; "><FONT>1.30</FONT></P>
                            </TD>
                            <TD style="border-top: 0pt; padding-top: 1.5pt; border-right: 0pt; border-left: 0pt; padding-left: 0pt; vertical-align: bottom; padding-bottom: 1.5pt; border-bottom: 0pt; padding-right: 0pt; ">
                                <P style="margin-left: 22.5pt; color: #000000; text-indent: -22.5pt; font-size: 9pt; font-family: Arial, sans-serif; line-height: normal; margin-top: 0; margin-bottom: 0; text-align: left; margin-right: 0pt; "><FONT>%*</FONT></P>
                            </TD>
                        </TR>
                        <TR style="min-height: 3pt; ">
                            <TD style="background-color: #cceeff; border-top: 0pt; padding-top: 1.5pt; border-right: 0pt; border-left: 0pt; padding-left: 0pt; vertical-align: top; padding-bottom: 1.5pt; border-bottom: 0pt; padding-right: 0pt; ">
                                <P style="margin-left: 22.5pt; color: #000000; text-indent: -22.5pt; font-size: 9pt; font-family: Arial, sans-serif; line-height: normal; margin-top: 0; margin-bottom: 0; text-align: left; margin-right: 0pt; "><FONT style="font-weight: bold; "><B>SUPPLEMENTAL DATA:&#8224;&#8224;&#160;</B></FONT></P>
                            </TD>
                            <TD style="background-color: #cceeff; border-top: 0pt; padding-top: 0pt; border-right: 0pt; border-left: 0pt; padding-left: 0pt; vertical-align: top; padding-bottom: 0pt; border-bottom: 0pt; padding-right: 0pt; ">
                                <P style="margin-left: 0pt; font-size: 1pt; line-height: 1pt; margin-top: 0pt; margin-bottom: 0; margin-right: 0pt; ">&#8203;</P>
                            </TD>
                            <TD style="background-color: #cceeff; border-top: 0pt; padding-top: 0pt; border-right: 0pt; border-left: 0pt; padding-left: 0pt; vertical-align: bottom; padding-bottom: 0pt; border-bottom: 0pt; padding-right: 0pt; ">
                                <P style="margin-left: 0pt; font-size: 1pt; line-height: 1pt; margin-top: 0pt; margin-bottom: 0; margin-right: 0pt; ">&#8203;</P>
                            </TD>
                            <TD style="background-color: #cceeff; border-top: 0pt; padding-top: 0pt; border-right: 0pt; border-left: 0pt; padding-left: 0pt; vertical-align: bottom; padding-bottom: 0pt; border-bottom: 0pt; padding-right: 0pt; ">
                                <P style="margin-left: 0pt; font-size: 1pt; line-height: 1pt; margin-top: 0pt; margin-bottom: 0; margin-right: 0pt; ">&#8203;</P>
                            </TD>
                        </TR>
                        <TR style="min-height: 3pt; ">
                            <TD style="border-top: 0pt; padding-top: 1.5pt; border-right: 0pt; border-left: 0pt; padding-left: 0pt; vertical-align: top; padding-bottom: 1.5pt; border-bottom: 0pt; padding-right: 0pt; ">
                                <P style="margin-left: 33.75pt; color: #000000; text-indent: -22.5pt; font-size: 9pt; font-family: Arial, sans-serif; line-height: normal; margin-top: 0; margin-bottom: 0; text-align: left; margin-right: 0pt; "><FONT>Portfolio turnover rate </FONT></P>
                            </TD>
                            <TD style="border-top: 0pt; padding-top: 0pt; border-right: 0pt; border-left: 0pt; padding-left: 0pt; vertical-align: top; padding-bottom: 0pt; border-bottom: 0pt; padding-right: 0pt; ">
                                <P style="margin-left: 0pt; font-size: 1pt; line-height: 1pt; margin-top: 0pt; margin-bottom: 0; margin-right: 0pt; ">&#8203;</P>
                            </TD>
                            <TD style="border-top: 0pt; padding-top: 1.5pt; border-right: 0pt; border-left: 0pt; padding-left: 0pt; vertical-align: bottom; padding-bottom: 1.5pt; border-bottom: 0pt; padding-right: 0pt; ">
                                <P style="margin-left: 0pt; color: #000000; font-size: 9pt; font-family: Arial, sans-serif; line-height: normal; margin-top: 0; margin-bottom: 0; text-align: right; margin-right: 0pt; "><FONT>11</FONT></P>
                            </TD>
                            <TD style="border-top: 0pt; padding-top: 1.5pt; border-right: 0pt; border-left: 0pt; padding-left: 0pt; vertical-align: bottom; padding-bottom: 1.5pt; border-bottom: 0pt; padding-right: 0pt; ">
                                <P style="margin-left: 22.5pt; color: #000000; text-indent: -22.5pt; font-size: 9pt; font-family: Arial, sans-serif; line-height: normal; margin-top: 0; margin-bottom: 0; text-align: left; margin-right: 0pt; "><FONT>%**</FONT></P>
                            </TD>
                        </TR>
                        <TR style="min-height: 3pt; ">
                            <TD style="background-color: #cceeff; border-top: 0pt; padding-top: 1.5pt; border-right: 0pt; border-left: 0pt; padding-left: 0pt; vertical-align: top; padding-bottom: 1.5pt; border-bottom: 0pt; padding-right: 0pt; ">
                                <P style="margin-left: 33.75pt; color: #000000; text-indent: -22.5pt; font-size: 9pt; font-family: Arial, sans-serif; line-height: normal; margin-top: 0; margin-bottom: 0; text-align: left; margin-right: 0pt; "><FONT>Total managed assets, end of period (in 000&#8217;s) </FONT></P>
                            </TD>
                            <TD style="background-color: #cceeff; border-top: 0pt; padding-top: 0pt; border-right: 0pt; border-left: 0pt; padding-left: 0pt; vertical-align: top; padding-bottom: 0pt; border-bottom: 0pt; padding-right: 0pt; ">
                                <P style="margin-left: 0pt; font-size: 1pt; line-height: 1pt; margin-top: 0pt; margin-bottom: 0; margin-right: 0pt; ">&#8203;</P>
                            </TD>
                            <TD style="background-color: #cceeff; border-top: 0pt; padding-top: 1.5pt; border-right: 0pt; border-left: 0pt; padding-left: 0pt; vertical-align: bottom; padding-bottom: 1.5pt; border-bottom: 0pt; padding-right: 0pt; ">
                                <P style="margin-left: 0pt; color: #000000; font-size: 9pt; font-family: Arial, sans-serif; line-height: normal; margin-top: 0; margin-bottom: 0; text-align: right; margin-right: 0pt; "><FONT style="float: left; "><FONT>$</FONT></FONT><FONT style="float: right; "><FONT>252,136</FONT></FONT><FONT style="font-size: 9pt; ">&#8203;</FONT>                                    <BR clear="all"></P>
                            </TD>
                            <TD style="background-color: #cceeff; border-top: 0pt; padding-top: 0pt; border-right: 0pt; border-left: 0pt; padding-left: 0pt; vertical-align: bottom; padding-bottom: 0pt; border-bottom: 0pt; padding-right: 0pt; ">
                                <P style="margin-left: 0pt; font-size: 1pt; line-height: 1pt; margin-top: 0pt; margin-bottom: 0; margin-right: 0pt; ">&#8203;</P>
                            </TD>
                        </TR>
                        <TR style="min-height: 3pt; ">
                            <TD style="border-top: 0pt; padding-top: 1.5pt; border-right: 0pt; border-left: 0pt; padding-left: 0pt; vertical-align: top; padding-bottom: 1.5pt; border-bottom: 0pt; padding-right: 0pt; ">
                                <P style="margin-left: 33.75pt; color: #000000; text-indent: -22.5pt; font-size: 9pt; font-family: Arial, sans-serif; line-height: normal; margin-top: 0; margin-bottom: 0; text-align: left; margin-right: 0pt; "><FONT>Ratio of operating expenses including interest expense to<br>average total managed assets </FONT></P>
                            </TD>
                            <TD style="border-top: 0pt; padding-top: 0pt; border-right: 0pt; border-left: 0pt; padding-left: 0pt; vertical-align: top; padding-bottom: 0pt; border-bottom: 0pt; padding-right: 0pt; ">
                                <P style="margin-left: 0pt; font-size: 1pt; line-height: 1pt; margin-top: 0pt; margin-bottom: 0; margin-right: 0pt; ">&#8203;</P>
                            </TD>
                            <TD style="border-top: 0pt; padding-top: 1.5pt; border-right: 0pt; border-left: 0pt; padding-left: 0pt; vertical-align: bottom; padding-bottom: 1.5pt; border-bottom: 0pt; padding-right: 0pt; ">
                                <P style="margin-left: 0pt; color: #000000; font-size: 9pt; font-family: Arial, sans-serif; line-height: normal; margin-top: 0; margin-bottom: 0; text-align: right; margin-right: 0pt; "><FONT>2.77</FONT></P>
                            </TD>
                            <TD style="border-top: 0pt; padding-top: 1.5pt; border-right: 0pt; border-left: 0pt; padding-left: 0pt; vertical-align: bottom; padding-bottom: 1.5pt; border-bottom: 0pt; padding-right: 0pt; ">
                                <P style="margin-left: 22.5pt; color: #000000; text-indent: -22.5pt; font-size: 9pt; font-family: Arial, sans-serif; line-height: normal; margin-top: 0; margin-bottom: 0; text-align: left; margin-right: 0pt; "><FONT>%*</FONT></P>
                            </TD>
                        </TR>
                        <TR style="min-height: 3pt; ">
                            <TD style="background-color: #cceeff; border-top: 0pt; padding-top: 1.5pt; border-right: 0pt; border-left: 0pt; padding-left: 0pt; vertical-align: top; padding-bottom: 1.5pt; border-bottom: 0pt; padding-right: 0pt; ">
                                <P style="margin-left: 33.75pt; color: #000000; text-indent: -22.5pt; font-size: 9pt; font-family: Arial, sans-serif; line-height: normal; margin-top: 0; margin-bottom: 0; text-align: left; margin-right: 0pt; "><FONT>Ratio of operating expenses excluding interest expense to<br>average total managed assets </FONT></P>
                            </TD>
                            <TD style="background-color: #cceeff; border-top: 0pt; padding-top: 0pt; border-right: 0pt; border-left: 0pt; padding-left: 0pt; vertical-align: top; padding-bottom: 0pt; border-bottom: 0pt; padding-right: 0pt; ">
                                <P style="margin-left: 0pt; font-size: 1pt; line-height: 1pt; margin-top: 0pt; margin-bottom: 0; margin-right: 0pt; ">&#8203;</P>
                            </TD>
                            <TD style="background-color: #cceeff; border-top: 0pt; padding-top: 1.5pt; border-right: 0pt; border-left: 0pt; padding-left: 0pt; vertical-align: bottom; padding-bottom: 1.5pt; border-bottom: 0pt; padding-right: 0pt; ">
                                <P style="margin-left: 0pt; color: #000000; font-size: 9pt; font-family: Arial, sans-serif; line-height: normal; margin-top: 0; margin-bottom: 0; text-align: right; margin-right: 0pt; "><FONT>0.82</FONT></P>
                            </TD>
                            <TD style="background-color: #cceeff; border-top: 0pt; padding-top: 1.5pt; border-right: 0pt; border-left: 0pt; padding-left: 0pt; vertical-align: bottom; padding-bottom: 1.5pt; border-bottom: 0pt; padding-right: 0pt; ">
                                <P style="margin-left: 22.5pt; color: #000000; text-indent: -22.5pt; font-size: 9pt; font-family: Arial, sans-serif; line-height: normal; margin-top: 0; margin-bottom: 0; text-align: left; margin-right: 0pt; "><FONT>%*</FONT></P>
                            </TD>
                        </TR>
                    </TABLE>
                </DIV>
                <P style="color: #000000; font-size: 9pt; border-bottom: 1pt solid ; margin-right: 540pt; margin-left: 0pt; text-indent: 0pt; font-family: Arial, sans-serif; margin-top: 0pt; margin-bottom: 4pt; "><FONT>&#160;&#160;</FONT></P>
                <P style="margin-left: 26.25pt; color: #000000; text-indent: -26.25pt; font-size: 7pt; font-family: Arial, sans-serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify; margin-right: 0pt; "><!-- [if IE]><FONT style=" width: 26.25pt; text-indent: -21.0pt; display: inline-block;"><![endif]--><FONT style="width: 26.25pt; text-indent: 0; display: inline-block; "><SUP style="font-size: 5.0pt; line-height: 5.0pt; ">(1)</SUP></FONT><!-- [if IE]></FONT><![endif]--><FONT>These tables summarize the nine months ended August 31, 2025 and should be read in conjunction with the Fund&#8217;s audited financial statements, including notes to the financial statements, in its Annual Report dated November 30, 2024.</FONT></P>
                <P style="margin-left: 26.25pt; color: #000000; text-indent: -26.25pt; font-size: 7pt; font-family: Arial, sans-serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify; margin-right: 0pt; "><!-- [if IE]><FONT style=" width: 26.25pt; text-indent: -21.0pt; display: inline-block;"><![endif]--><FONT style="width: 26.25pt; text-indent: 0; display: inline-block; "><FONT>*</FONT></FONT><!-- [if IE]></FONT><![endif]--><FONT>Annualized.</FONT></P>
                <P style="margin-left: 26.25pt; color: #000000; text-indent: -26.25pt; font-size: 7pt; font-family: Arial, sans-serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify; margin-right: 0pt; "><!-- [if IE]><FONT style=" width: 26.25pt; text-indent: -21.0pt; display: inline-block;"><![endif]--><FONT style="width: 26.25pt; text-indent: 0; display: inline-block; "><FONT>**</FONT></FONT><!-- [if IE]></FONT><![endif]--><FONT>Not annualized.</FONT></P>
                <P style="margin-left: 26.25pt; color: #000000; text-indent: -26.25pt; font-size: 7pt; font-family: Arial, sans-serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify; margin-right: 0pt; "><!-- [if IE]><FONT style=" width: 26.25pt; text-indent: -21.0pt; display: inline-block;"><![endif]--><FONT style="width: 26.25pt; text-indent: 0; display: inline-block; "><FONT>&#8224;</FONT></FONT><!-- [if IE]></FONT><![endif]--><FONT>The net investment income ratios reflect income net of operating expenses, including interest expense.</FONT></P>
                <P style="margin-left: 26.25pt; color: #000000; text-indent: -26.25pt; font-size: 7pt; font-family: Arial, sans-serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify; margin-right: 0pt; "><!-- [if IE]><FONT style=" width: 26.25pt; text-indent: -21.0pt; display: inline-block;"><![endif]--><FONT style="width: 26.25pt; text-indent: 0; display: inline-block; "><FONT>&#8224;&#8224;</FONT></FONT><!-- [if IE]></FONT><![endif]--><FONT>Information presented under heading Supplemental Data includes loan principal balance.</FONT></P>
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            <P style="font-size: 5pt; margin: 0pt; ">&#8203;</P>
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        <DIV style="margin: auto; overflow: hidden; width: 675.0pt; position: relative; border-bottom: 2pt solid black; height: 765.0pt; ">
            <DIV style="border: 0pt; padding-top: 0pt; top: 33.75pt; left: 33.75pt; padding-left: 0pt; width: 607.5pt; padding-bottom: 0pt; position: absolute; padding-right: 0pt; height: 78.94pt; ">
                <P style="margin-left: 0pt; color: #000000; font-size: 12pt; font-family: Times New Roman, Times, serif; margin-top: 0pt; margin-bottom: 0pt; text-align: right; margin-right: 0pt; "><FONT style="font-size: 8pt; font-family: Arial, sans-serif; ">Flaherty &amp; Crumrine Preferred and Income Fund Incorporated</FONT></P>
                <P style="margin-left: 0pt; color: #000000; font-size: 12pt; font-family: Times New Roman, Times, serif; margin-top: 0pt; margin-bottom: 0pt; text-align: right; margin-right: 0pt; "><FONT style="text-transform: uppercase; font-family: Arial, sans-serif; ">Financial Highlights</FONT><FONT style="font-family: Arial, sans-serif; "> (Continued)</FONT></P>
                <P style="margin-left: 0pt; color: #000000; font-size: 12pt; font-family: Times New Roman, Times, serif; margin-top: 0pt; margin-bottom: 0pt; text-align: right; margin-right: 0pt; "><FONT style="font-size: 10pt; font-family: Arial, sans-serif; ">Per Share of Common Stock (Unaudited)</FONT><FONT style="font-size: 8pt; font-family: Arial, sans-serif; ">&#160;</FONT></P>
                <P style="margin-left: 0pt; color: #000000; font-size: 12pt; font-family: Times New Roman, Times, serif; margin-top: 0pt; margin-bottom: 0pt; border-bottom: 1pt solid ; text-align: right; margin-right: 0pt; "><FONT style="font-size: 8pt; font-family: Arial, sans-serif; ">&#160;</FONT></P>
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            <DIV style="border: 0pt; padding-top: 0pt; top: 697.5pt; left: 33.75pt; padding-left: 0pt; width: 607.5pt; padding-bottom: 0pt; position: absolute; padding-right: 0pt; height: 33.75pt; ">
                <DIV style="vertical-align: bottom; width: 607.5pt; display: table-cell; height: 33.75pt; ">
                    <!-- [if IE]><TABLE><TR style=" width: 607.5pt; height: 33.75pt;"><TD vAlign="bottom" style=" width: 607.5pt; height: 33.75pt;"><![endif]-->
                    <P style="margin-left: 0pt; color: #000000; text-indent: 0pt; font-size: 12pt; font-family: Times New Roman, Times, serif; margin-top: 0pt; margin-bottom: 0pt; text-align: center; margin-right: 0pt; "><FONT style="font-size: 8pt; font-family: Arial, sans-serif; "> <br></FONT><FONT style="font-size: 10pt; font-family: Arial, sans-serif; ">13</FONT></P>
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            <DIV style="border: 0pt; padding-top: 0pt; top: 120pt; left: 33.75pt; padding-left: 0pt; width: 607.5pt; padding-bottom: 0pt; position: absolute; padding-right: 0pt; height: 577.5pt; ">
                <DIV style="margin-left: 0pt; color: #000000; font-size: 9pt; font-family: Arial, sans-serif; line-height: 11pt; margin-top: 0pt; margin-bottom: 6pt; text-align: justify; margin-right: 0pt; ">
                    <TABLE style="width: 606.75pt; margin-top: 4pt; margin-bottom: 2pt; table-layout: fixed; border-collapse: collapse; ">
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                            <TD style="border: 0; width: 67.5pt; padding: 0; margin: 0; ">
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                            <TD style="border: 0; width: 15.0pt; padding: 0; margin: 0; ">
                            </TD>
                            <TD style="border: 0; width: 67.5pt; padding: 0; margin: 0; ">
                            </TD>
                        </TR>
                        <TR style="min-height: 3pt; ">
                            <TD style="border-top: 0pt; padding-top: 1.5pt; border-right: 0pt; border-left: 0pt; padding-left: 0pt; vertical-align: bottom; padding-bottom: 1.5pt; border-bottom: 0.5pt solid #000000; padding-right: 0pt; ">
                                <P style="margin-left: 0pt; color: #000000; text-indent: 0pt; font-size: 8pt; font-family: Arial, sans-serif; line-height: normal; margin-top: 0; margin-bottom: 0; text-align: center; margin-right: 0pt; "><FONT style="font-weight: bold; "><B>&#160;</B></FONT></P>
                            </TD>
                            <TD style="border-top: 0pt; padding-top: 0pt; border-right: 0pt; border-left: 0pt; padding-left: 0pt; vertical-align: bottom; padding-bottom: 0pt; border-bottom: 0.5pt solid #000000; padding-right: 0pt; ">
                                <P style="margin-left: 0pt; font-size: 1pt; line-height: 1pt; margin-top: 0pt; margin-bottom: 0; margin-right: 0pt; ">&#8203;</P>
                            </TD>
                            <TD style="border-top: 0pt; padding-top: 1.5pt; border-right: 0pt; border-left: 0pt; padding-left: 0pt; vertical-align: bottom; padding-bottom: 1.5pt; border-bottom: 0.5pt solid #000000; padding-right: 0pt; ">
                                <P style="margin-left: 0pt; color: #000000; text-indent: 0pt; font-size: 8pt; font-family: Arial, sans-serif; line-height: normal; margin-top: 0; margin-bottom: 0; text-align: center; margin-right: 0pt; "><FONT style="font-weight: bold; "><B>Total<br>Dividends<br>Paid</B></FONT></P>
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                            <TD style="border-top: 0pt; padding-top: 0pt; border-right: 0pt; border-left: 0pt; padding-left: 0pt; vertical-align: bottom; padding-bottom: 0pt; border-bottom: 0.5pt solid #000000; padding-right: 0pt; ">
                                <P style="margin-left: 0pt; font-size: 1pt; line-height: 1pt; margin-top: 0pt; margin-bottom: 0; margin-right: 0pt; ">&#8203;</P>
                            </TD>
                            <TD style="border-top: 0pt; padding-top: 1.5pt; border-right: 0pt; border-left: 0pt; padding-left: 0pt; vertical-align: bottom; padding-bottom: 1.5pt; border-bottom: 0.5pt solid #000000; padding-right: 0pt; ">
                                <P style="margin-left: 0pt; color: #000000; text-indent: 0pt; font-size: 8pt; font-family: Arial, sans-serif; line-height: normal; margin-top: 0; margin-bottom: 0; text-align: center; margin-right: 0pt; "><FONT style="font-weight: bold; "><B>Net <br>Asset<br>Value</B></FONT></P>
                            </TD>
                            <TD style="border-top: 0pt; padding-top: 0pt; border-right: 0pt; border-left: 0pt; padding-left: 0pt; vertical-align: bottom; padding-bottom: 0pt; border-bottom: 0.5pt solid #000000; padding-right: 0pt; ">
                                <P style="margin-left: 0pt; font-size: 1pt; line-height: 1pt; margin-top: 0pt; margin-bottom: 0; margin-right: 0pt; ">&#8203;</P>
                            </TD>
                            <TD style="border-top: 0pt; padding-top: 1.5pt; border-right: 0pt; border-left: 0pt; padding-left: 0pt; vertical-align: bottom; padding-bottom: 1.5pt; border-bottom: 0.5pt solid #000000; padding-right: 0pt; ">
                                <P style="margin-left: 0pt; color: #000000; text-indent: 0pt; font-size: 8pt; font-family: Arial, sans-serif; line-height: normal; margin-top: 0; margin-bottom: 0; text-align: center; margin-right: 0pt; "><FONT style="font-weight: bold; "><B>NYSE<br>Closing<br>Price</B></FONT></P>
                            </TD>
                            <TD style="border-top: 0pt; padding-top: 0pt; border-right: 0pt; border-left: 0pt; padding-left: 0pt; vertical-align: bottom; padding-bottom: 0pt; border-bottom: 0.5pt solid #000000; padding-right: 0pt; ">
                                <P style="margin-left: 0pt; font-size: 1pt; line-height: 1pt; margin-top: 0pt; margin-bottom: 0; margin-right: 0pt; ">&#8203;</P>
                            </TD>
                            <TD style="border-top: 0pt; padding-top: 1.5pt; border-right: 0pt; border-left: 0pt; padding-left: 0pt; vertical-align: bottom; padding-bottom: 1.5pt; border-bottom: 0.5pt solid #000000; padding-right: 0pt; ">
                                <P style="margin-left: 0pt; color: #000000; text-indent: 0pt; font-size: 8pt; font-family: Arial, sans-serif; line-height: normal; margin-top: 0; margin-bottom: 0; text-align: center; margin-right: 0pt; "><FONT style="font-weight: bold; "><B>Dividend<br>Reinvestment<br>Price</B></FONT><SUP style="font-size: 6.0pt; line-height: 6.0pt; font-weight: bold; "><B>(1)</B></SUP><FONT style="font-weight: bold; "><B>&#160;</B></FONT></P>
                            </TD>
                        </TR>
                        <TR style="min-height: 3pt; ">
                            <TD style="background-color: #cceeff; border-top: 0.5pt solid #000000; padding-top: 1.5pt; border-right: 0pt; border-left: 0pt; padding-left: 0pt; vertical-align: top; padding-bottom: 1.5pt; border-bottom: 0pt; padding-right: 0pt; ">
                                <P style="margin-left: 22.5pt; color: #000000; text-indent: -22.5pt; font-size: 9pt; font-family: Arial, sans-serif; line-height: normal; margin-top: 0; margin-bottom: 0; text-align: left; margin-right: 0pt; "><FONT>December 31, 2024 </FONT></P>
                            </TD>
                            <TD style="background-color: #cceeff; border-top: 0.5pt solid #000000; padding-top: 0pt; border-right: 0pt; border-left: 0pt; padding-left: 0pt; vertical-align: top; padding-bottom: 0pt; border-bottom: 0pt; padding-right: 0pt; ">
                                <P style="margin-left: 0pt; font-size: 1pt; line-height: 1pt; margin-top: 0pt; margin-bottom: 0; margin-right: 0pt; ">&#8203;</P>
                            </TD>
                            <TD style="background-color: #cceeff; border-top: 0.5pt solid #000000; padding-top: 1.5pt; border-right: 0pt; border-left: 0pt; padding-left: 0pt; vertical-align: top; padding-bottom: 1.5pt; border-bottom: 0pt; padding-right: 13pt; ">
                                <P style="margin-left: 0pt; color: #000000; font-size: 9pt; font-family: Arial, sans-serif; line-height: normal; margin-top: 0; margin-bottom: 0; text-align: right; margin-right: 0pt; "><FONT>$0.0910</FONT></P>
                            </TD>
                            <TD style="background-color: #cceeff; border-top: 0.5pt solid #000000; padding-top: 0pt; border-right: 0pt; border-left: 0pt; padding-left: 0pt; vertical-align: top; padding-bottom: 0pt; border-bottom: 0pt; padding-right: 0pt; ">
                                <P style="margin-left: 0pt; font-size: 1pt; line-height: 1pt; margin-top: 0pt; margin-bottom: 0; margin-right: 0pt; ">&#8203;</P>
                            </TD>
                            <TD style="background-color: #cceeff; border-top: 0.5pt solid #000000; padding-top: 1.5pt; border-right: 0pt; border-left: 0pt; padding-left: 0pt; vertical-align: top; padding-bottom: 1.5pt; border-bottom: 0pt; padding-right: 13pt; ">
                                <P style="margin-left: 0pt; color: #000000; font-size: 9pt; font-family: Arial, sans-serif; line-height: normal; margin-top: 0; margin-bottom: 0; text-align: right; margin-right: 0pt; "><FONT>$12.25</FONT></P>
                            </TD>
                            <TD style="background-color: #cceeff; border-top: 0.5pt solid #000000; padding-top: 0pt; border-right: 0pt; border-left: 0pt; padding-left: 0pt; vertical-align: top; padding-bottom: 0pt; border-bottom: 0pt; padding-right: 0pt; ">
                                <P style="margin-left: 0pt; font-size: 1pt; line-height: 1pt; margin-top: 0pt; margin-bottom: 0; margin-right: 0pt; ">&#8203;</P>
                            </TD>
                            <TD style="background-color: #cceeff; border-top: 0.5pt solid #000000; padding-top: 1.5pt; border-right: 0pt; border-left: 0pt; padding-left: 0pt; vertical-align: top; padding-bottom: 1.5pt; border-bottom: 0pt; padding-right: 13pt; ">
                                <P style="margin-left: 0pt; color: #000000; font-size: 9pt; font-family: Arial, sans-serif; line-height: normal; margin-top: 0; margin-bottom: 0; text-align: right; margin-right: 0pt; "><FONT>$11.24</FONT></P>
                            </TD>
                            <TD style="background-color: #cceeff; border-top: 0.5pt solid #000000; padding-top: 0pt; border-right: 0pt; border-left: 0pt; padding-left: 0pt; vertical-align: top; padding-bottom: 0pt; border-bottom: 0pt; padding-right: 0pt; ">
                                <P style="margin-left: 0pt; font-size: 1pt; line-height: 1pt; margin-top: 0pt; margin-bottom: 0; margin-right: 0pt; ">&#8203;</P>
                            </TD>
                            <TD style="background-color: #cceeff; border-top: 0.5pt solid #000000; padding-top: 1.5pt; border-right: 0pt; border-left: 0pt; padding-left: 0pt; vertical-align: top; padding-bottom: 1.5pt; border-bottom: 0pt; padding-right: 13pt; ">
                                <P style="margin-left: 0pt; color: #000000; font-size: 9pt; font-family: Arial, sans-serif; line-height: normal; margin-top: 0; margin-bottom: 0; text-align: right; margin-right: 0pt; "><FONT>$11.31</FONT></P>
                            </TD>
                        </TR>
                        <TR style="min-height: 3pt; ">
                            <TD style="border-top: 0pt; padding-top: 1.5pt; border-right: 0pt; border-left: 0pt; padding-left: 0pt; vertical-align: top; padding-bottom: 1.5pt; border-bottom: 0pt; padding-right: 0pt; ">
                                <P style="margin-left: 22.5pt; color: #000000; text-indent: -22.5pt; font-size: 9pt; font-family: Arial, sans-serif; line-height: normal; margin-top: 0; margin-bottom: 0; text-align: left; margin-right: 0pt; "><FONT>January 31, 2025 </FONT></P>
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                                <P style="margin-left: 0pt; font-size: 1pt; line-height: 1pt; margin-top: 0pt; margin-bottom: 0; margin-right: 0pt; ">&#8203;</P>
                            </TD>
                            <TD style="border-top: 0pt; padding-top: 1.5pt; border-right: 0pt; border-left: 0pt; padding-left: 0pt; vertical-align: top; padding-bottom: 1.5pt; border-bottom: 0pt; padding-right: 13pt; ">
                                <P style="margin-left: 0pt; color: #000000; font-size: 9pt; font-family: Arial, sans-serif; line-height: normal; margin-top: 0; margin-bottom: 0; text-align: right; margin-right: 0pt; "><FONT>&#160;0.0610</FONT></P>
                            </TD>
                            <TD style="border-top: 0pt; padding-top: 0pt; border-right: 0pt; border-left: 0pt; padding-left: 0pt; vertical-align: top; padding-bottom: 0pt; border-bottom: 0pt; padding-right: 0pt; ">
                                <P style="margin-left: 0pt; font-size: 1pt; line-height: 1pt; margin-top: 0pt; margin-bottom: 0; margin-right: 0pt; ">&#8203;</P>
                            </TD>
                            <TD style="border-top: 0pt; padding-top: 1.5pt; border-right: 0pt; border-left: 0pt; padding-left: 0pt; vertical-align: top; padding-bottom: 1.5pt; border-bottom: 0pt; padding-right: 13pt; ">
                                <P style="margin-left: 0pt; color: #000000; font-size: 9pt; font-family: Arial, sans-serif; line-height: normal; margin-top: 0; margin-bottom: 0; text-align: right; margin-right: 0pt; "><FONT>&#160;12.29</FONT></P>
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                            <TD style="border-top: 0pt; padding-top: 0pt; border-right: 0pt; border-left: 0pt; padding-left: 0pt; vertical-align: top; padding-bottom: 0pt; border-bottom: 0pt; padding-right: 0pt; ">
                                <P style="margin-left: 0pt; font-size: 1pt; line-height: 1pt; margin-top: 0pt; margin-bottom: 0; margin-right: 0pt; ">&#8203;</P>
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                            <TD style="border-top: 0pt; padding-top: 1.5pt; border-right: 0pt; border-left: 0pt; padding-left: 0pt; vertical-align: top; padding-bottom: 1.5pt; border-bottom: 0pt; padding-right: 13pt; ">
                                <P style="margin-left: 0pt; color: #000000; font-size: 9pt; font-family: Arial, sans-serif; line-height: normal; margin-top: 0; margin-bottom: 0; text-align: right; margin-right: 0pt; "><FONT>&#160;11.25</FONT></P>
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                            <TD style="border-top: 0pt; padding-top: 0pt; border-right: 0pt; border-left: 0pt; padding-left: 0pt; vertical-align: top; padding-bottom: 0pt; border-bottom: 0pt; padding-right: 0pt; ">
                                <P style="margin-left: 0pt; font-size: 1pt; line-height: 1pt; margin-top: 0pt; margin-bottom: 0; margin-right: 0pt; ">&#8203;</P>
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                            <TD style="border-top: 0pt; padding-top: 1.5pt; border-right: 0pt; border-left: 0pt; padding-left: 0pt; vertical-align: top; padding-bottom: 1.5pt; border-bottom: 0pt; padding-right: 13pt; ">
                                <P style="margin-left: 0pt; color: #000000; font-size: 9pt; font-family: Arial, sans-serif; line-height: normal; margin-top: 0; margin-bottom: 0; text-align: right; margin-right: 0pt; "><FONT>&#160;11.25</FONT></P>
                            </TD>
                        </TR>
                        <TR style="min-height: 3pt; ">
                            <TD style="background-color: #cceeff; border-top: 0pt; padding-top: 1.5pt; border-right: 0pt; border-left: 0pt; padding-left: 0pt; vertical-align: top; padding-bottom: 1.5pt; border-bottom: 0pt; padding-right: 0pt; ">
                                <P style="margin-left: 22.5pt; color: #000000; text-indent: -22.5pt; font-size: 9pt; font-family: Arial, sans-serif; line-height: normal; margin-top: 0; margin-bottom: 0; text-align: left; margin-right: 0pt; "><FONT>February 28, 2025 </FONT></P>
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                                <P style="margin-left: 0pt; font-size: 1pt; line-height: 1pt; margin-top: 0pt; margin-bottom: 0; margin-right: 0pt; ">&#8203;</P>
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                            <TD style="background-color: #cceeff; border-top: 0pt; padding-top: 1.5pt; border-right: 0pt; border-left: 0pt; padding-left: 0pt; vertical-align: top; padding-bottom: 1.5pt; border-bottom: 0pt; padding-right: 13pt; ">
                                <P style="margin-left: 0pt; color: #000000; font-size: 9pt; font-family: Arial, sans-serif; line-height: normal; margin-top: 0; margin-bottom: 0; text-align: right; margin-right: 0pt; "><FONT>&#160;0.0610</FONT></P>
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                                <P style="margin-left: 0pt; font-size: 1pt; line-height: 1pt; margin-top: 0pt; margin-bottom: 0; margin-right: 0pt; ">&#8203;</P>
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                            <TD style="background-color: #cceeff; border-top: 0pt; padding-top: 1.5pt; border-right: 0pt; border-left: 0pt; padding-left: 0pt; vertical-align: top; padding-bottom: 1.5pt; border-bottom: 0pt; padding-right: 13pt; ">
                                <P style="margin-left: 0pt; color: #000000; font-size: 9pt; font-family: Arial, sans-serif; line-height: normal; margin-top: 0; margin-bottom: 0; text-align: right; margin-right: 0pt; "><FONT>&#160;12.41</FONT></P>
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                                <P style="margin-left: 0pt; font-size: 1pt; line-height: 1pt; margin-top: 0pt; margin-bottom: 0; margin-right: 0pt; ">&#8203;</P>
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                            <TD style="background-color: #cceeff; border-top: 0pt; padding-top: 1.5pt; border-right: 0pt; border-left: 0pt; padding-left: 0pt; vertical-align: top; padding-bottom: 1.5pt; border-bottom: 0pt; padding-right: 13pt; ">
                                <P style="margin-left: 0pt; color: #000000; font-size: 9pt; font-family: Arial, sans-serif; line-height: normal; margin-top: 0; margin-bottom: 0; text-align: right; margin-right: 0pt; "><FONT>&#160;11.24</FONT></P>
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                                <P style="margin-left: 0pt; font-size: 1pt; line-height: 1pt; margin-top: 0pt; margin-bottom: 0; margin-right: 0pt; ">&#8203;</P>
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                            <TD style="background-color: #cceeff; border-top: 0pt; padding-top: 1.5pt; border-right: 0pt; border-left: 0pt; padding-left: 0pt; vertical-align: top; padding-bottom: 1.5pt; border-bottom: 0pt; padding-right: 13pt; ">
                                <P style="margin-left: 0pt; color: #000000; font-size: 9pt; font-family: Arial, sans-serif; line-height: normal; margin-top: 0; margin-bottom: 0; text-align: right; margin-right: 0pt; "><FONT>&#160;11.31</FONT></P>
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                        </TR>
                        <TR style="min-height: 3pt; ">
                            <TD style="border-top: 0pt; padding-top: 1.5pt; border-right: 0pt; border-left: 0pt; padding-left: 0pt; vertical-align: top; padding-bottom: 1.5pt; border-bottom: 0pt; padding-right: 0pt; ">
                                <P style="margin-left: 22.5pt; color: #000000; text-indent: -22.5pt; font-size: 9pt; font-family: Arial, sans-serif; line-height: normal; margin-top: 0; margin-bottom: 0; text-align: left; margin-right: 0pt; "><FONT>March 31, 2025 </FONT></P>
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                                <P style="margin-left: 0pt; font-size: 1pt; line-height: 1pt; margin-top: 0pt; margin-bottom: 0; margin-right: 0pt; ">&#8203;</P>
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                            <TD style="border-top: 0pt; padding-top: 1.5pt; border-right: 0pt; border-left: 0pt; padding-left: 0pt; vertical-align: top; padding-bottom: 1.5pt; border-bottom: 0pt; padding-right: 13pt; ">
                                <P style="margin-left: 0pt; color: #000000; font-size: 9pt; font-family: Arial, sans-serif; line-height: normal; margin-top: 0; margin-bottom: 0; text-align: right; margin-right: 0pt; "><FONT>&#160;0.0610</FONT></P>
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                            <TD style="border-top: 0pt; padding-top: 0pt; border-right: 0pt; border-left: 0pt; padding-left: 0pt; vertical-align: top; padding-bottom: 0pt; border-bottom: 0pt; padding-right: 0pt; ">
                                <P style="margin-left: 0pt; font-size: 1pt; line-height: 1pt; margin-top: 0pt; margin-bottom: 0; margin-right: 0pt; ">&#8203;</P>
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                            <TD style="border-top: 0pt; padding-top: 1.5pt; border-right: 0pt; border-left: 0pt; padding-left: 0pt; vertical-align: top; padding-bottom: 1.5pt; border-bottom: 0pt; padding-right: 13pt; ">
                                <P style="margin-left: 0pt; color: #000000; font-size: 9pt; font-family: Arial, sans-serif; line-height: normal; margin-top: 0; margin-bottom: 0; text-align: right; margin-right: 0pt; "><FONT>&#160;12.22</FONT></P>
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                                <P style="margin-left: 0pt; font-size: 1pt; line-height: 1pt; margin-top: 0pt; margin-bottom: 0; margin-right: 0pt; ">&#8203;</P>
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                            <TD style="border-top: 0pt; padding-top: 1.5pt; border-right: 0pt; border-left: 0pt; padding-left: 0pt; vertical-align: top; padding-bottom: 1.5pt; border-bottom: 0pt; padding-right: 13pt; ">
                                <P style="margin-left: 0pt; color: #000000; font-size: 9pt; font-family: Arial, sans-serif; line-height: normal; margin-top: 0; margin-bottom: 0; text-align: right; margin-right: 0pt; "><FONT>&#160;11.22</FONT></P>
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                            <TD style="border-top: 0pt; padding-top: 0pt; border-right: 0pt; border-left: 0pt; padding-left: 0pt; vertical-align: top; padding-bottom: 0pt; border-bottom: 0pt; padding-right: 0pt; ">
                                <P style="margin-left: 0pt; font-size: 1pt; line-height: 1pt; margin-top: 0pt; margin-bottom: 0; margin-right: 0pt; ">&#8203;</P>
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                            <TD style="border-top: 0pt; padding-top: 1.5pt; border-right: 0pt; border-left: 0pt; padding-left: 0pt; vertical-align: top; padding-bottom: 1.5pt; border-bottom: 0pt; padding-right: 13pt; ">
                                <P style="margin-left: 0pt; color: #000000; font-size: 9pt; font-family: Arial, sans-serif; line-height: normal; margin-top: 0; margin-bottom: 0; text-align: right; margin-right: 0pt; "><FONT>&#160;11.27</FONT></P>
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                        </TR>
                        <TR style="min-height: 3pt; ">
                            <TD style="background-color: #cceeff; border-top: 0pt; padding-top: 1.5pt; border-right: 0pt; border-left: 0pt; padding-left: 0pt; vertical-align: top; padding-bottom: 1.5pt; border-bottom: 0pt; padding-right: 0pt; ">
                                <P style="margin-left: 22.5pt; color: #000000; text-indent: -22.5pt; font-size: 9pt; font-family: Arial, sans-serif; line-height: normal; margin-top: 0; margin-bottom: 0; text-align: left; margin-right: 0pt; "><FONT>April 30, 2025 </FONT></P>
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                                <P style="margin-left: 0pt; font-size: 1pt; line-height: 1pt; margin-top: 0pt; margin-bottom: 0; margin-right: 0pt; ">&#8203;</P>
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                            <TD style="background-color: #cceeff; border-top: 0pt; padding-top: 1.5pt; border-right: 0pt; border-left: 0pt; padding-left: 0pt; vertical-align: top; padding-bottom: 1.5pt; border-bottom: 0pt; padding-right: 13pt; ">
                                <P style="margin-left: 0pt; color: #000000; font-size: 9pt; font-family: Arial, sans-serif; line-height: normal; margin-top: 0; margin-bottom: 0; text-align: right; margin-right: 0pt; "><FONT>&#160;0.0610</FONT></P>
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                            <TD style="background-color: #cceeff; border-top: 0pt; padding-top: 0pt; border-right: 0pt; border-left: 0pt; padding-left: 0pt; vertical-align: top; padding-bottom: 0pt; border-bottom: 0pt; padding-right: 0pt; ">
                                <P style="margin-left: 0pt; font-size: 1pt; line-height: 1pt; margin-top: 0pt; margin-bottom: 0; margin-right: 0pt; ">&#8203;</P>
                            </TD>
                            <TD style="background-color: #cceeff; border-top: 0pt; padding-top: 1.5pt; border-right: 0pt; border-left: 0pt; padding-left: 0pt; vertical-align: top; padding-bottom: 1.5pt; border-bottom: 0pt; padding-right: 13pt; ">
                                <P style="margin-left: 0pt; color: #000000; font-size: 9pt; font-family: Arial, sans-serif; line-height: normal; margin-top: 0; margin-bottom: 0; text-align: right; margin-right: 0pt; "><FONT>&#160;11.99</FONT></P>
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                            <TD style="background-color: #cceeff; border-top: 0pt; padding-top: 0pt; border-right: 0pt; border-left: 0pt; padding-left: 0pt; vertical-align: top; padding-bottom: 0pt; border-bottom: 0pt; padding-right: 0pt; ">
                                <P style="margin-left: 0pt; font-size: 1pt; line-height: 1pt; margin-top: 0pt; margin-bottom: 0; margin-right: 0pt; ">&#8203;</P>
                            </TD>
                            <TD style="background-color: #cceeff; border-top: 0pt; padding-top: 1.5pt; border-right: 0pt; border-left: 0pt; padding-left: 0pt; vertical-align: top; padding-bottom: 1.5pt; border-bottom: 0pt; padding-right: 13pt; ">
                                <P style="margin-left: 0pt; color: #000000; font-size: 9pt; font-family: Arial, sans-serif; line-height: normal; margin-top: 0; margin-bottom: 0; text-align: right; margin-right: 0pt; "><FONT>&#160;10.89</FONT></P>
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                            <TD style="background-color: #cceeff; border-top: 0pt; padding-top: 0pt; border-right: 0pt; border-left: 0pt; padding-left: 0pt; vertical-align: top; padding-bottom: 0pt; border-bottom: 0pt; padding-right: 0pt; ">
                                <P style="margin-left: 0pt; font-size: 1pt; line-height: 1pt; margin-top: 0pt; margin-bottom: 0; margin-right: 0pt; ">&#8203;</P>
                            </TD>
                            <TD style="background-color: #cceeff; border-top: 0pt; padding-top: 1.5pt; border-right: 0pt; border-left: 0pt; padding-left: 0pt; vertical-align: top; padding-bottom: 1.5pt; border-bottom: 0pt; padding-right: 13pt; ">
                                <P style="margin-left: 0pt; color: #000000; font-size: 9pt; font-family: Arial, sans-serif; line-height: normal; margin-top: 0; margin-bottom: 0; text-align: right; margin-right: 0pt; "><FONT>&#160;11.02</FONT></P>
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                        </TR>
                        <TR style="min-height: 3pt; ">
                            <TD style="border-top: 0pt; padding-top: 1.5pt; border-right: 0pt; border-left: 0pt; padding-left: 0pt; vertical-align: top; padding-bottom: 1.5pt; border-bottom: 0pt; padding-right: 0pt; ">
                                <P style="margin-left: 22.5pt; color: #000000; text-indent: -22.5pt; font-size: 9pt; font-family: Arial, sans-serif; line-height: normal; margin-top: 0; margin-bottom: 0; text-align: left; margin-right: 0pt; "><FONT>May 30, 2025 </FONT></P>
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                                <P style="margin-left: 0pt; font-size: 1pt; line-height: 1pt; margin-top: 0pt; margin-bottom: 0; margin-right: 0pt; ">&#8203;</P>
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                            <TD style="border-top: 0pt; padding-top: 1.5pt; border-right: 0pt; border-left: 0pt; padding-left: 0pt; vertical-align: top; padding-bottom: 1.5pt; border-bottom: 0pt; padding-right: 13pt; ">
                                <P style="margin-left: 0pt; color: #000000; font-size: 9pt; font-family: Arial, sans-serif; line-height: normal; margin-top: 0; margin-bottom: 0; text-align: right; margin-right: 0pt; "><FONT>&#160;0.0622</FONT></P>
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                            <TD style="border-top: 0pt; padding-top: 0pt; border-right: 0pt; border-left: 0pt; padding-left: 0pt; vertical-align: top; padding-bottom: 0pt; border-bottom: 0pt; padding-right: 0pt; ">
                                <P style="margin-left: 0pt; font-size: 1pt; line-height: 1pt; margin-top: 0pt; margin-bottom: 0; margin-right: 0pt; ">&#8203;</P>
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                            <TD style="border-top: 0pt; padding-top: 1.5pt; border-right: 0pt; border-left: 0pt; padding-left: 0pt; vertical-align: top; padding-bottom: 1.5pt; border-bottom: 0pt; padding-right: 13pt; ">
                                <P style="margin-left: 0pt; color: #000000; font-size: 9pt; font-family: Arial, sans-serif; line-height: normal; margin-top: 0; margin-bottom: 0; text-align: right; margin-right: 0pt; "><FONT>&#160;12.14</FONT></P>
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                            <TD style="border-top: 0pt; padding-top: 0pt; border-right: 0pt; border-left: 0pt; padding-left: 0pt; vertical-align: top; padding-bottom: 0pt; border-bottom: 0pt; padding-right: 0pt; ">
                                <P style="margin-left: 0pt; font-size: 1pt; line-height: 1pt; margin-top: 0pt; margin-bottom: 0; margin-right: 0pt; ">&#8203;</P>
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                            <TD style="border-top: 0pt; padding-top: 1.5pt; border-right: 0pt; border-left: 0pt; padding-left: 0pt; vertical-align: top; padding-bottom: 1.5pt; border-bottom: 0pt; padding-right: 13pt; ">
                                <P style="margin-left: 0pt; color: #000000; font-size: 9pt; font-family: Arial, sans-serif; line-height: normal; margin-top: 0; margin-bottom: 0; text-align: right; margin-right: 0pt; "><FONT>&#160;11.03</FONT></P>
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                            <TD style="border-top: 0pt; padding-top: 0pt; border-right: 0pt; border-left: 0pt; padding-left: 0pt; vertical-align: top; padding-bottom: 0pt; border-bottom: 0pt; padding-right: 0pt; ">
                                <P style="margin-left: 0pt; font-size: 1pt; line-height: 1pt; margin-top: 0pt; margin-bottom: 0; margin-right: 0pt; ">&#8203;</P>
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                            <TD style="border-top: 0pt; padding-top: 1.5pt; border-right: 0pt; border-left: 0pt; padding-left: 0pt; vertical-align: top; padding-bottom: 1.5pt; border-bottom: 0pt; padding-right: 13pt; ">
                                <P style="margin-left: 0pt; color: #000000; font-size: 9pt; font-family: Arial, sans-serif; line-height: normal; margin-top: 0; margin-bottom: 0; text-align: right; margin-right: 0pt; "><FONT>&#160;11.03</FONT></P>
                            </TD>
                        </TR>
                        <TR style="min-height: 3pt; ">
                            <TD style="background-color: #cceeff; border-top: 0pt; padding-top: 1.5pt; border-right: 0pt; border-left: 0pt; padding-left: 0pt; vertical-align: top; padding-bottom: 1.5pt; border-bottom: 0pt; padding-right: 0pt; ">
                                <P style="margin-left: 22.5pt; color: #000000; text-indent: -22.5pt; font-size: 9pt; font-family: Arial, sans-serif; line-height: normal; margin-top: 0; margin-bottom: 0; text-align: left; margin-right: 0pt; "><FONT>June 30, 2025 </FONT></P>
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                            <TD style="background-color: #cceeff; border-top: 0pt; padding-top: 0pt; border-right: 0pt; border-left: 0pt; padding-left: 0pt; vertical-align: top; padding-bottom: 0pt; border-bottom: 0pt; padding-right: 0pt; ">
                                <P style="margin-left: 0pt; font-size: 1pt; line-height: 1pt; margin-top: 0pt; margin-bottom: 0; margin-right: 0pt; ">&#8203;</P>
                            </TD>
                            <TD style="background-color: #cceeff; border-top: 0pt; padding-top: 1.5pt; border-right: 0pt; border-left: 0pt; padding-left: 0pt; vertical-align: top; padding-bottom: 1.5pt; border-bottom: 0pt; padding-right: 13pt; ">
                                <P style="margin-left: 0pt; color: #000000; font-size: 9pt; font-family: Arial, sans-serif; line-height: normal; margin-top: 0; margin-bottom: 0; text-align: right; margin-right: 0pt; "><FONT>&#160;0.0622</FONT></P>
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                            <TD style="background-color: #cceeff; border-top: 0pt; padding-top: 0pt; border-right: 0pt; border-left: 0pt; padding-left: 0pt; vertical-align: top; padding-bottom: 0pt; border-bottom: 0pt; padding-right: 0pt; ">
                                <P style="margin-left: 0pt; font-size: 1pt; line-height: 1pt; margin-top: 0pt; margin-bottom: 0; margin-right: 0pt; ">&#8203;</P>
                            </TD>
                            <TD style="background-color: #cceeff; border-top: 0pt; padding-top: 1.5pt; border-right: 0pt; border-left: 0pt; padding-left: 0pt; vertical-align: top; padding-bottom: 1.5pt; border-bottom: 0pt; padding-right: 13pt; ">
                                <P style="margin-left: 0pt; color: #000000; font-size: 9pt; font-family: Arial, sans-serif; line-height: normal; margin-top: 0; margin-bottom: 0; text-align: right; margin-right: 0pt; "><FONT>&#160;12.35</FONT></P>
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                            <TD style="background-color: #cceeff; border-top: 0pt; padding-top: 0pt; border-right: 0pt; border-left: 0pt; padding-left: 0pt; vertical-align: top; padding-bottom: 0pt; border-bottom: 0pt; padding-right: 0pt; ">
                                <P style="margin-left: 0pt; font-size: 1pt; line-height: 1pt; margin-top: 0pt; margin-bottom: 0; margin-right: 0pt; ">&#8203;</P>
                            </TD>
                            <TD style="background-color: #cceeff; border-top: 0pt; padding-top: 1.5pt; border-right: 0pt; border-left: 0pt; padding-left: 0pt; vertical-align: top; padding-bottom: 1.5pt; border-bottom: 0pt; padding-right: 13pt; ">
                                <P style="margin-left: 0pt; color: #000000; font-size: 9pt; font-family: Arial, sans-serif; line-height: normal; margin-top: 0; margin-bottom: 0; text-align: right; margin-right: 0pt; "><FONT>&#160;11.31</FONT></P>
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                            <TD style="background-color: #cceeff; border-top: 0pt; padding-top: 0pt; border-right: 0pt; border-left: 0pt; padding-left: 0pt; vertical-align: top; padding-bottom: 0pt; border-bottom: 0pt; padding-right: 0pt; ">
                                <P style="margin-left: 0pt; font-size: 1pt; line-height: 1pt; margin-top: 0pt; margin-bottom: 0; margin-right: 0pt; ">&#8203;</P>
                            </TD>
                            <TD style="background-color: #cceeff; border-top: 0pt; padding-top: 1.5pt; border-right: 0pt; border-left: 0pt; padding-left: 0pt; vertical-align: top; padding-bottom: 1.5pt; border-bottom: 0pt; padding-right: 13pt; ">
                                <P style="margin-left: 0pt; color: #000000; font-size: 9pt; font-family: Arial, sans-serif; line-height: normal; margin-top: 0; margin-bottom: 0; text-align: right; margin-right: 0pt; "><FONT>&#160;11.32</FONT></P>
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                        </TR>
                        <TR style="min-height: 3pt; ">
                            <TD style="border-top: 0pt; padding-top: 1.5pt; border-right: 0pt; border-left: 0pt; padding-left: 0pt; vertical-align: top; padding-bottom: 1.5pt; border-bottom: 0pt; padding-right: 0pt; ">
                                <P style="margin-left: 22.5pt; color: #000000; text-indent: -22.5pt; font-size: 9pt; font-family: Arial, sans-serif; line-height: normal; margin-top: 0; margin-bottom: 0; text-align: left; margin-right: 0pt; "><FONT>July 31, 2025 </FONT></P>
                            </TD>
                            <TD style="border-top: 0pt; padding-top: 0pt; border-right: 0pt; border-left: 0pt; padding-left: 0pt; vertical-align: top; padding-bottom: 0pt; border-bottom: 0pt; padding-right: 0pt; ">
                                <P style="margin-left: 0pt; font-size: 1pt; line-height: 1pt; margin-top: 0pt; margin-bottom: 0; margin-right: 0pt; ">&#8203;</P>
                            </TD>
                            <TD style="border-top: 0pt; padding-top: 1.5pt; border-right: 0pt; border-left: 0pt; padding-left: 0pt; vertical-align: top; padding-bottom: 1.5pt; border-bottom: 0pt; padding-right: 13pt; ">
                                <P style="margin-left: 0pt; color: #000000; font-size: 9pt; font-family: Arial, sans-serif; line-height: normal; margin-top: 0; margin-bottom: 0; text-align: right; margin-right: 0pt; "><FONT>&#160;0.0622</FONT></P>
                            </TD>
                            <TD style="border-top: 0pt; padding-top: 0pt; border-right: 0pt; border-left: 0pt; padding-left: 0pt; vertical-align: top; padding-bottom: 0pt; border-bottom: 0pt; padding-right: 0pt; ">
                                <P style="margin-left: 0pt; font-size: 1pt; line-height: 1pt; margin-top: 0pt; margin-bottom: 0; margin-right: 0pt; ">&#8203;</P>
                            </TD>
                            <TD style="border-top: 0pt; padding-top: 1.5pt; border-right: 0pt; border-left: 0pt; padding-left: 0pt; vertical-align: top; padding-bottom: 1.5pt; border-bottom: 0pt; padding-right: 13pt; ">
                                <P style="margin-left: 0pt; color: #000000; font-size: 9pt; font-family: Arial, sans-serif; line-height: normal; margin-top: 0; margin-bottom: 0; text-align: right; margin-right: 0pt; "><FONT>&#160;12.48</FONT></P>
                            </TD>
                            <TD style="border-top: 0pt; padding-top: 0pt; border-right: 0pt; border-left: 0pt; padding-left: 0pt; vertical-align: top; padding-bottom: 0pt; border-bottom: 0pt; padding-right: 0pt; ">
                                <P style="margin-left: 0pt; font-size: 1pt; line-height: 1pt; margin-top: 0pt; margin-bottom: 0; margin-right: 0pt; ">&#8203;</P>
                            </TD>
                            <TD style="border-top: 0pt; padding-top: 1.5pt; border-right: 0pt; border-left: 0pt; padding-left: 0pt; vertical-align: top; padding-bottom: 1.5pt; border-bottom: 0pt; padding-right: 13pt; ">
                                <P style="margin-left: 0pt; color: #000000; font-size: 9pt; font-family: Arial, sans-serif; line-height: normal; margin-top: 0; margin-bottom: 0; text-align: right; margin-right: 0pt; "><FONT>&#160;11.35</FONT></P>
                            </TD>
                            <TD style="border-top: 0pt; padding-top: 0pt; border-right: 0pt; border-left: 0pt; padding-left: 0pt; vertical-align: top; padding-bottom: 0pt; border-bottom: 0pt; padding-right: 0pt; ">
                                <P style="margin-left: 0pt; font-size: 1pt; line-height: 1pt; margin-top: 0pt; margin-bottom: 0; margin-right: 0pt; ">&#8203;</P>
                            </TD>
                            <TD style="border-top: 0pt; padding-top: 1.5pt; border-right: 0pt; border-left: 0pt; padding-left: 0pt; vertical-align: top; padding-bottom: 1.5pt; border-bottom: 0pt; padding-right: 13pt; ">
                                <P style="margin-left: 0pt; color: #000000; font-size: 9pt; font-family: Arial, sans-serif; line-height: normal; margin-top: 0; margin-bottom: 0; text-align: right; margin-right: 0pt; "><FONT>&#160;11.40</FONT></P>
                            </TD>
                        </TR>
                        <TR style="min-height: 3pt; ">
                            <TD style="background-color: #cceeff; border-top: 0pt; padding-top: 1.5pt; border-right: 0pt; border-left: 0pt; padding-left: 0pt; vertical-align: top; padding-bottom: 1.5pt; border-bottom: 0pt; padding-right: 0pt; ">
                                <P style="margin-left: 22.5pt; color: #000000; text-indent: -22.5pt; font-size: 9pt; font-family: Arial, sans-serif; line-height: normal; margin-top: 0; margin-bottom: 0; text-align: left; margin-right: 0pt; "><FONT>August 29, 2025 </FONT></P>
                            </TD>
                            <TD style="background-color: #cceeff; border-top: 0pt; padding-top: 0pt; border-right: 0pt; border-left: 0pt; padding-left: 0pt; vertical-align: top; padding-bottom: 0pt; border-bottom: 0pt; padding-right: 0pt; ">
                                <P style="margin-left: 0pt; font-size: 1pt; line-height: 1pt; margin-top: 0pt; margin-bottom: 0; margin-right: 0pt; ">&#8203;</P>
                            </TD>
                            <TD style="background-color: #cceeff; border-top: 0pt; padding-top: 1.5pt; border-right: 0pt; border-left: 0pt; padding-left: 0pt; vertical-align: top; padding-bottom: 1.5pt; border-bottom: 0pt; padding-right: 13pt; ">
                                <P style="margin-left: 0pt; color: #000000; font-size: 9pt; font-family: Arial, sans-serif; line-height: normal; margin-top: 0; margin-bottom: 0; text-align: right; margin-right: 0pt; "><FONT>&#160;0.0628</FONT></P>
                            </TD>
                            <TD style="background-color: #cceeff; border-top: 0pt; padding-top: 0pt; border-right: 0pt; border-left: 0pt; padding-left: 0pt; vertical-align: top; padding-bottom: 0pt; border-bottom: 0pt; padding-right: 0pt; ">
                                <P style="margin-left: 0pt; font-size: 1pt; line-height: 1pt; margin-top: 0pt; margin-bottom: 0; margin-right: 0pt; ">&#8203;</P>
                            </TD>
                            <TD style="background-color: #cceeff; border-top: 0pt; padding-top: 1.5pt; border-right: 0pt; border-left: 0pt; padding-left: 0pt; vertical-align: top; padding-bottom: 1.5pt; border-bottom: 0pt; padding-right: 13pt; ">
                                <P style="margin-left: 0pt; color: #000000; font-size: 9pt; font-family: Arial, sans-serif; line-height: normal; margin-top: 0; margin-bottom: 0; text-align: right; margin-right: 0pt; "><FONT>&#160;12.53</FONT></P>
                            </TD>
                            <TD style="background-color: #cceeff; border-top: 0pt; padding-top: 0pt; border-right: 0pt; border-left: 0pt; padding-left: 0pt; vertical-align: top; padding-bottom: 0pt; border-bottom: 0pt; padding-right: 0pt; ">
                                <P style="margin-left: 0pt; font-size: 1pt; line-height: 1pt; margin-top: 0pt; margin-bottom: 0; margin-right: 0pt; ">&#8203;</P>
                            </TD>
                            <TD style="background-color: #cceeff; border-top: 0pt; padding-top: 1.5pt; border-right: 0pt; border-left: 0pt; padding-left: 0pt; vertical-align: top; padding-bottom: 1.5pt; border-bottom: 0pt; padding-right: 13pt; ">
                                <P style="margin-left: 0pt; color: #000000; font-size: 9pt; font-family: Arial, sans-serif; line-height: normal; margin-top: 0; margin-bottom: 0; text-align: right; margin-right: 0pt; "><FONT>&#160;11.49</FONT></P>
                            </TD>
                            <TD style="background-color: #cceeff; border-top: 0pt; padding-top: 0pt; border-right: 0pt; border-left: 0pt; padding-left: 0pt; vertical-align: top; padding-bottom: 0pt; border-bottom: 0pt; padding-right: 0pt; ">
                                <P style="margin-left: 0pt; font-size: 1pt; line-height: 1pt; margin-top: 0pt; margin-bottom: 0; margin-right: 0pt; ">&#8203;</P>
                            </TD>
                            <TD style="background-color: #cceeff; border-top: 0pt; padding-top: 1.5pt; border-right: 0pt; border-left: 0pt; padding-left: 0pt; vertical-align: top; padding-bottom: 1.5pt; border-bottom: 0pt; padding-right: 13pt; ">
                                <P style="margin-left: 0pt; color: #000000; font-size: 9pt; font-family: Arial, sans-serif; line-height: normal; margin-top: 0; margin-bottom: 0; text-align: right; margin-right: 0pt; "><FONT>&#160;11.48</FONT></P>
                            </TD>
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                <P style="color: #000000; font-size: 9pt; border-bottom: 1pt solid ; margin-right: 540pt; margin-left: 0pt; text-indent: 0pt; font-family: Arial, sans-serif; margin-top: 0pt; margin-bottom: 4pt; "><FONT>&#160;&#160;</FONT></P>
                <P style="margin-left: 26.25pt; color: #000000; text-indent: -26.25pt; font-size: 7pt; font-family: Arial, sans-serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify; margin-right: 0pt; "><!-- [if IE]><FONT style=" width: 26.25pt; text-indent: -21.0pt; display: inline-block;"><![endif]--><FONT style="width: 26.25pt; text-indent: 0; display: inline-block; "><SUP style="font-size: 5.0pt; line-height: 5.0pt; ">(1)</SUP></FONT><!-- [if IE]></FONT><![endif]--><FONT>Whenever the net asset value per share of the Fund&#8217;s Common Stock is less than or equal to the market price per share on the reinvestment date, new shares issued will be valued at the higher of net asset value or 95% of the then current market price. Otherwise, the reinvestment shares of Common Stock will be purchased in the open market.</FONT></P>
            </DIV>
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        <DIV style="page-break-before: always; ">
            <P style="font-size: 5pt; margin: 0pt; ">&#8203;</P>
        </DIV>
        <DIV style="margin: auto; overflow: hidden; width: 675.0pt; position: relative; border-bottom: 2pt solid black; height: 765.0pt; ">
            <DIV style="border: 0pt; padding-top: 0pt; top: 33.75pt; left: 33.75pt; padding-left: 0pt; width: 607.5pt; padding-bottom: 0pt; position: absolute; padding-right: 0pt; height: 63.94pt; ">
                <P style="border-top: 1pt solid ; color: #000000; font-size: 12pt; margin-right: 0pt; margin-left: 0pt; text-indent: 0pt; font-family: Times New Roman, Times, serif; margin-top: 0pt; margin-bottom: 0pt; "><FONT style="font-size: 8pt; font-family: Arial, sans-serif; ">&#160;</FONT></P>
                <P style="margin-left: 0pt; color: #000000; text-indent: 0pt; font-size: 12pt; font-family: Times New Roman, Times, serif; margin-top: 0pt; margin-bottom: 0pt; margin-right: 0pt; "><FONT style="font-size: 8pt; font-family: Arial, sans-serif; ">Flaherty &amp; Crumrine Preferred and Income Fund Incorporated</FONT></P>
                <P style="margin-left: 0pt; color: #000000; text-indent: 0pt; font-size: 12pt; font-family: Times New Roman, Times, serif; margin-top: 0pt; margin-bottom: 0pt; margin-right: 0pt; "><FONT style="font-family: Arial, sans-serif; ">NOTES TO PORTFOLIO OF INVESTMENTS (Unaudited)</FONT></P>
                <P style="color: #000000; font-size: 12pt; border-bottom: 1pt solid ; margin-right: 0pt; margin-left: 0pt; text-indent: 0pt; font-family: Times New Roman, Times, serif; margin-top: 0pt; margin-bottom: 0pt; "><FONT style="font-size: 8pt; font-family: Arial, sans-serif; ">&#160;</FONT></P>
            </DIV>
            <DIV style="border: 0pt; padding-top: 0pt; top: 697.5pt; left: 33.75pt; padding-left: 0pt; width: 607.5pt; padding-bottom: 0pt; position: absolute; padding-right: 0pt; height: 33.75pt; ">
                <DIV style="vertical-align: bottom; width: 607.5pt; display: table-cell; height: 33.75pt; ">
                    <!-- [if IE]><TABLE><TR style=" width: 607.5pt; height: 33.75pt;"><TD vAlign="bottom" style=" width: 607.5pt; height: 33.75pt;"><![endif]-->
                    <P style="margin-left: 0pt; color: #000000; text-indent: 0pt; font-size: 12pt; font-family: Times New Roman, Times, serif; margin-top: 0pt; margin-bottom: 0pt; text-align: center; margin-right: 0pt; "><FONT style="font-size: 10pt; font-family: Arial, sans-serif; ">14</FONT></P>
                    <!-- [if IE]></TD></TR></TABLE><![endif]-->
                </DIV>
            </DIV>
            <DIV style="border: 0pt; padding-top: 0pt; top: 105pt; left: 33.75pt; padding-left: 0pt; width: 607.5pt; padding-bottom: 0pt; position: absolute; padding-right: 0pt; height: 592.5pt; ">
                <P style="margin-left: 0pt; color: #000000; text-indent: 0pt; font-size: 10pt; font-family: Arial, sans-serif; line-height: 12pt; margin-top: 0pt; margin-bottom: 4pt; margin-right: 0pt; "><!-- [if IE]><FONT style=" width: 33.75pt; text-indent: 0.0pt; display: inline-block;"><![endif]--><FONT style="width: 33.75pt; text-indent: 0; display: inline-block; "><FONT style="font-weight: bold; "><B>1.</B></FONT></FONT><!-- [if IE]></FONT><![endif]--><FONT style="font-weight: bold; "><B>Aggregate Information for Federal Income Tax Purposes</B></FONT></P>
                <P style="margin-left: 0pt; color: #000000; text-indent: 0pt; font-size: 9pt; font-family: Arial, sans-serif; line-height: 11pt; margin-top: 0pt; margin-bottom: 6pt; text-align: justify; margin-right: 0pt; "><FONT>At August 31, 2025, the aggregate cost of securities for federal income tax purposes was $249,998,116, the aggregate gross unrealized appreciation for all securities in which there was an excess of value over tax cost was $7,000,730 and the aggregate gross unrealized depreciation for all securities in which there was an excess of tax cost over value was $7,173,967.</FONT></P>
                <P style="margin-left: 0pt; color: #000000; text-indent: 0pt; font-size: 10pt; font-family: Arial, sans-serif; line-height: 12pt; margin-top: 6pt; margin-bottom: 4pt; margin-right: 0pt; "><!-- [if IE]><FONT style=" width: 33.75pt; text-indent: 0.0pt; display: inline-block;"><![endif]--><FONT style="width: 33.75pt; text-indent: 0; display: inline-block; "><FONT style="font-weight: bold; "><B>2.</B></FONT></FONT><!-- [if IE]></FONT><![endif]--><FONT style="font-weight: bold; "><B>Additional Accounting Standards</B></FONT></P>
                <P style="margin-left: 0pt; color: #000000; text-indent: 0pt; font-size: 9pt; font-family: Arial, sans-serif; line-height: 11pt; margin-top: 0pt; margin-bottom: 6pt; text-align: justify; margin-right: 0pt; "><FONT style="font-style: italic; "><I>Portfolio Valuation:</I></FONT><FONT>&#160;Rule 2a-5 under the Investment Company Act of 1940, as amended (the &#8220;1940 Act&#8221;), establishes requirements for determining fair value in good faith for purposes of the 1940 Act. Rule 2a-5 permits fund boards to designate a Valuation Designee to perform fair value determinations, subject to board oversight and certain other conditions. Rule 2a-5 also defines when market quotations are &#8220;readily available&#8221; for purposes of Section 2(a)(41) of the 1940 Act, which requires a fund to fair value a security when market quotations are not readily available. </FONT></P>
                <P style="margin-left: 0pt; color: #000000; text-indent: 0pt; font-size: 9pt; font-family: Arial, sans-serif; line-height: 11pt; margin-top: 0pt; margin-bottom: 6pt; text-align: justify; margin-right: 0pt; "><FONT>The net asset value of the Fund&#8217;s Common Stock is calculated by the Fund&#8217;s Administrator no less frequently than on the last business day of each week and month in accordance with the policies and procedures adopted by the Adviser, as the Valuation Designee of the Board of Directors (the &#8220;Board&#8221;) of the Fund. Net asset value is calculated by dividing the value of the Fund&#8217;s net assets available to Common Stock by the number of shares of Common Stock outstanding. The value of the Fund&#8217;s net assets available to Common Stock is deemed to equal the value of the Fund&#8217;s total assets less (i) the Fund&#8217;s liabilities and (ii) the aggregate liquidation value of any outstanding preferred stock.&#160;</FONT></P>
                <P style="margin-left: 0pt; color: #000000; text-indent: 0pt; font-size: 9pt; font-family: Arial, sans-serif; line-height: 11pt; margin-top: 0pt; margin-bottom: 6pt; text-align: justify; margin-right: 0pt; "><FONT>The Fund&#8217;s preferred and debt securities are valued on the basis of current market quotations provided by independent pricing services or dealers approved by the Valuation Designee. In determining the evaluated mean value of a particular preferred or debt security, a pricing service or dealer may use information with respect to transactions in such investments, quotations (based on the mean of bid and asked price), market transactions in comparable investments, various relationships observed in the market between investments, and/or calculated yield measures based on valuation technology commonly employed in the market for such investments. Common stocks that are traded on stock exchanges are valued at the last sale price or official close price on the exchange, as of the close of business on the day the securities are being valued or, lacking any sales, at the last available mean price. Futures contracts and option contracts on futures contracts are valued on the basis of the settlement price for such contracts on the primary exchange on which they trade. Investments in over-the-counter derivative instruments, such as interest rate swaps and options thereon (&#8220;swaptions&#8221;), are valued using prices supplied by a pricing service, or if such prices are unavailable, prices provided by a single broker or dealer that is not the counterparty or, if no such prices are available, at a price at which the counterparty to the contract would repurchase the instrument or terminate the contract. Investments for which market quotations are not readily available or for which the Valuation Designee determines that the prices are not reflective of current market conditions are valued at fair value as determined in good faith by the Valuation Designee, including reference to valuations of other securities which are comparable in quality, maturity and type.&#160;</FONT></P>
                <P style="margin-left: 0pt; color: #000000; text-indent: 0pt; font-size: 9pt; font-family: Arial, sans-serif; line-height: 11pt; margin-top: 0pt; margin-bottom: 6pt; text-align: justify; margin-right: 0pt; "><FONT>Investments in money market instruments and all debt and preferred securities which mature in 60 days or less are valued at amortized cost, provided such amount approximates market value. Investments in money market funds are valued at the net asset value of such funds.</FONT></P>
            </DIV>
        </DIV>
        <DIV style="page-break-before: always; ">
            <P style="font-size: 5pt; margin: 0pt; ">&#8203;</P>
        </DIV>
        <DIV style="margin: auto; overflow: hidden; width: 675.0pt; position: relative; border-bottom: 2pt solid black; height: 765.0pt; ">
            <DIV style="border: 0pt; padding-top: 0pt; top: 33.75pt; left: 33.75pt; padding-left: 0pt; width: 607.5pt; padding-bottom: 0pt; position: absolute; padding-right: 0pt; height: 63.94pt; ">
                <P style="border-top: 1pt solid ; margin-left: 0pt; color: #000000; font-size: 12pt; font-family: Times New Roman, Times, serif; margin-top: 0pt; margin-bottom: 0pt; text-align: right; margin-right: 0pt; "><FONT style="font-size: 8pt; font-family: Arial, sans-serif; ">&#160;</FONT></P>
                <P style="margin-left: 0pt; color: #000000; font-size: 12pt; font-family: Times New Roman, Times, serif; margin-top: 0pt; margin-bottom: 0pt; text-align: right; margin-right: 0pt; "><FONT style="font-size: 8pt; font-family: Arial, sans-serif; ">Flaherty &amp; Crumrine Preferred and Income Fund Incorporated</FONT></P>
                <P style="margin-left: 0pt; color: #000000; font-size: 12pt; font-family: Times New Roman, Times, serif; margin-top: 0pt; margin-bottom: 0pt; text-align: right; margin-right: 0pt; "><FONT style="font-family: Arial, sans-serif; ">NOTES TO PORTFOLIO OF INVESTMENTS (Unaudited) (Continued)</FONT></P>
                <P style="margin-left: 0pt; color: #000000; font-size: 12pt; font-family: Times New Roman, Times, serif; margin-top: 0pt; margin-bottom: 0pt; border-bottom: 1pt solid ; text-align: right; margin-right: 0pt; "><FONT style="font-size: 8pt; font-family: Arial, sans-serif; ">&#160;</FONT></P>
            </DIV>
            <DIV style="border: 0pt; padding-top: 0pt; top: 697.5pt; left: 33.75pt; padding-left: 0pt; width: 607.5pt; padding-bottom: 0pt; position: absolute; padding-right: 0pt; height: 33.75pt; ">
                <DIV style="vertical-align: bottom; width: 607.5pt; display: table-cell; height: 33.75pt; ">
                    <!-- [if IE]><TABLE><TR style=" width: 607.5pt; height: 33.75pt;"><TD vAlign="bottom" style=" width: 607.5pt; height: 33.75pt;"><![endif]-->
                    <P style="margin-left: 0pt; color: #000000; text-indent: 0pt; font-size: 12pt; font-family: Times New Roman, Times, serif; margin-top: 0pt; margin-bottom: 0pt; text-align: center; margin-right: 0pt; "><FONT style="font-size: 10pt; font-family: Arial, sans-serif; ">15</FONT></P>
                    <!-- [if IE]></TD></TR></TABLE><![endif]-->
                </DIV>
            </DIV>
            <DIV style="border: 0pt; padding-top: 0pt; top: 105pt; left: 33.75pt; padding-left: 0pt; width: 607.5pt; padding-bottom: 0pt; position: absolute; padding-right: 0pt; height: 592.5pt; ">
                <P style="margin-left: 0pt; color: #000000; text-indent: 0pt; font-size: 9pt; font-family: Arial, sans-serif; line-height: 11pt; margin-top: 0pt; margin-bottom: 6pt; text-align: justify; margin-right: 0pt; "><FONT style="font-style: italic; "><I>Fair Value Measurements: </I></FONT><FONT>The Fund has analyzed all existing investments to determine the significance and character of all inputs to their fair value determination. The levels of fair value inputs used to measure the Fund&#8217;s investments are characterized into a fair value hierarchy. Where inputs for an asset or liability fall into more than one level in the fair value hierarchy, the investment is classified in its entirety based on the lowest level input that is significant to that investment&#8217;s valuation. The three levels of the fair value hierarchy are described below:</FONT></P>
                <DIV style="margin-left: 0pt; color: #000000; font-size: 9pt; font-family: Arial, sans-serif; line-height: 11pt; margin-top: 0pt; margin-bottom: 6pt; text-align: justify; margin-right: 0pt; ">
                    <TABLE style="width: 607.5pt; margin-top: 4pt; margin-bottom: 2pt; table-layout: fixed; border-collapse: collapse; ">
                        <TR style="margin: 0; height: 0; ">
                            <TD style="border: 0; width: 33.75pt; padding: 0; margin: 0; ">
                            </TD>
                            <TD style="border: 0; width: 22.5pt; padding: 0; margin: 0; ">
                            </TD>
                            <TD style="border: 0; width: 48.75pt; padding: 0; margin: 0; ">
                            </TD>
                            <TD style="border: 0; width: 502.5pt; padding: 0; margin: 0; ">
                            </TD>
                        </TR>
                        <TR style="min-height: 0pt; ">
                            <TD style="border-top: 0pt; padding-top: 3pt; border-right: 0pt; border-left: 0pt; padding-left: 0pt; vertical-align: top; padding-bottom: 1.5pt; border-bottom: 0pt; padding-right: 0pt; ">
                                <P style="margin-left: 11.25pt; color: #000000; text-indent: -11.25pt; font-size: 9pt; font-family: Arial, sans-serif; line-height: normal; margin-top: 0; margin-bottom: 0; text-align: left; margin-right: 0pt; "><FONT>&#160;</FONT></P>
                            </TD>
                            <TD style="border-top: 0pt; padding-top: 3pt; border-right: 0pt; border-left: 0pt; padding-left: 0pt; vertical-align: top; padding-bottom: 1.5pt; border-bottom: 0pt; padding-right: 0pt; ">
                                <P style="margin-left: 22.5pt; color: #000000; text-indent: -22.5pt; font-size: 9pt; font-family: Arial, sans-serif; line-height: normal; margin-top: 0; margin-bottom: 0; text-align: left; margin-right: 0pt; "><FONT>&#8226;</FONT></P>
                            </TD>
                            <TD style="border-top: 0pt; padding-top: 3pt; border-right: 0pt; border-left: 0pt; padding-left: 0pt; vertical-align: top; padding-bottom: 1.5pt; border-bottom: 0pt; padding-right: 0pt; ">
                                <P style="margin-left: 22.5pt; color: #000000; text-indent: -22.5pt; font-size: 9pt; font-family: Arial, sans-serif; line-height: normal; margin-top: 0; margin-bottom: 0; text-align: left; margin-right: 0pt; "><FONT>Level 1 &#8211;</FONT></P>
                            </TD>
                            <TD style="border-top: 0pt; padding-top: 3pt; border-right: 0pt; border-left: 0pt; padding-left: 0pt; vertical-align: top; padding-bottom: 1.5pt; border-bottom: 0pt; padding-right: 0pt; ">
                                <P style="margin-left: 0pt; color: #000000; text-indent: 0pt; font-size: 9pt; font-family: Arial, sans-serif; line-height: normal; margin-top: 0; margin-bottom: 0; text-align: left; margin-right: 0pt; "><FONT>quoted prices in active markets for identical securities</FONT></P>
                            </TD>
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                        <TR style="min-height: 0pt; ">
                            <TD style="border-top: 0pt; padding-top: 3pt; border-right: 0pt; border-left: 0pt; padding-left: 0pt; vertical-align: top; padding-bottom: 1.5pt; border-bottom: 0pt; padding-right: 0pt; ">
                                <P style="margin-left: 11.25pt; color: #000000; text-indent: -11.25pt; font-size: 9pt; font-family: Arial, sans-serif; line-height: normal; margin-top: 0; margin-bottom: 0; text-align: left; margin-right: 0pt; "><FONT>&#160;</FONT></P>
                            </TD>
                            <TD style="border-top: 0pt; padding-top: 3pt; border-right: 0pt; border-left: 0pt; padding-left: 0pt; vertical-align: top; padding-bottom: 1.5pt; border-bottom: 0pt; padding-right: 0pt; ">
                                <P style="margin-left: 22.5pt; color: #000000; text-indent: -22.5pt; font-size: 9pt; font-family: Arial, sans-serif; line-height: normal; margin-top: 0; margin-bottom: 0; text-align: left; margin-right: 0pt; "><FONT>&#8226;</FONT></P>
                            </TD>
                            <TD style="border-top: 0pt; padding-top: 3pt; border-right: 0pt; border-left: 0pt; padding-left: 0pt; vertical-align: top; padding-bottom: 1.5pt; border-bottom: 0pt; padding-right: 0pt; ">
                                <P style="margin-left: 22.5pt; color: #000000; text-indent: -22.5pt; font-size: 9pt; font-family: Arial, sans-serif; line-height: normal; margin-top: 0; margin-bottom: 0; text-align: left; margin-right: 0pt; "><FONT>Level 2 &#8211;</FONT></P>
                            </TD>
                            <TD style="border-top: 0pt; padding-top: 3pt; border-right: 0pt; border-left: 0pt; padding-left: 0pt; vertical-align: top; padding-bottom: 1.5pt; border-bottom: 0pt; padding-right: 0pt; ">
                                <P style="margin-left: 0pt; color: #000000; text-indent: 0pt; font-size: 9pt; font-family: Arial, sans-serif; line-height: normal; margin-top: 0; margin-bottom: 0; text-align: left; margin-right: 0pt; "><FONT>other significant observable inputs (including quoted prices for similar securities, interest rates, prepayment speeds, credit risk, etc.)</FONT></P>
                            </TD>
                        </TR>
                        <TR style="min-height: 0pt; ">
                            <TD style="border-top: 0pt; padding-top: 3pt; border-right: 0pt; border-left: 0pt; padding-left: 0pt; vertical-align: top; padding-bottom: 1.5pt; border-bottom: 0pt; padding-right: 0pt; ">
                                <P style="margin-left: 11.25pt; color: #000000; text-indent: -11.25pt; font-size: 9pt; font-family: Arial, sans-serif; line-height: normal; margin-top: 0; margin-bottom: 0; text-align: left; margin-right: 0pt; "><FONT>&#160;</FONT></P>
                            </TD>
                            <TD style="border-top: 0pt; padding-top: 3pt; border-right: 0pt; border-left: 0pt; padding-left: 0pt; vertical-align: top; padding-bottom: 1.5pt; border-bottom: 0pt; padding-right: 0pt; ">
                                <P style="margin-left: 22.5pt; color: #000000; text-indent: -22.5pt; font-size: 9pt; font-family: Arial, sans-serif; line-height: normal; margin-top: 0; margin-bottom: 0; text-align: left; margin-right: 0pt; "><FONT>&#8226;</FONT></P>
                            </TD>
                            <TD style="border-top: 0pt; padding-top: 3pt; border-right: 0pt; border-left: 0pt; padding-left: 0pt; vertical-align: top; padding-bottom: 1.5pt; border-bottom: 0pt; padding-right: 0pt; ">
                                <P style="margin-left: 22.5pt; color: #000000; text-indent: -22.5pt; font-size: 9pt; font-family: Arial, sans-serif; line-height: normal; margin-top: 0; margin-bottom: 0; text-align: left; margin-right: 0pt; "><FONT>Level 3 &#8211;</FONT></P>
                            </TD>
                            <TD style="border-top: 0pt; padding-top: 3pt; border-right: 0pt; border-left: 0pt; padding-left: 0pt; vertical-align: top; padding-bottom: 1.5pt; border-bottom: 0pt; padding-right: 0pt; ">
                                <P style="margin-left: 0pt; color: #000000; text-indent: 0pt; font-size: 9pt; font-family: Arial, sans-serif; line-height: normal; margin-top: 0; margin-bottom: 0; text-align: left; margin-right: 0pt; "><FONT>significant unobservable inputs (including the Fund&#8217;s own assumptions in determining the fair value of investments)</FONT></P>
                            </TD>
                        </TR>
                    </TABLE>
                </DIV>
                <P style="margin-left: 0pt; color: #000000; text-indent: 0pt; font-size: 9pt; font-family: Arial, sans-serif; line-height: 11pt; margin-top: 0pt; margin-bottom: 6pt; text-align: justify; margin-right: 0pt; "><FONT>The inputs or methodology used for valuing securities are not necessarily an indication of the risk associated with investing in those securities. Transfers in and out of levels are recognized at market value at the end of the period.</FONT></P>
                <P style="margin-left: 0pt; color: #000000; text-indent: 0pt; font-size: 9pt; font-family: Arial, sans-serif; line-height: 11pt; margin-top: 0pt; margin-bottom: 6pt; text-align: justify; margin-right: 0pt; "><FONT>A summary of the inputs used to value the Fund&#8217;s investments as of August 31, 2025 is as follows:</FONT></P>
                <DIV style="margin-left: 0pt; color: #000000; font-size: 9pt; font-family: Arial, sans-serif; line-height: 11pt; margin-top: 0pt; margin-bottom: 6pt; text-align: justify; margin-right: 0pt; ">
                    <TABLE style="width: 607.5pt; margin-top: 4pt; margin-bottom: 2pt; table-layout: fixed; border-collapse: collapse; ">
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                            <TD style="border: 0; width: 75.0pt; padding: 0; margin: 0; ">
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                            <TD style="border: 0; width: 75.0pt; padding: 0; margin: 0; ">
                            </TD>
                        </TR>
                        <TR style="min-height: 3pt; ">
                            <TD style="border-top: 0pt; padding-top: 1.5pt; border-right: 0pt; border-left: 0pt; padding-left: 0pt; vertical-align: bottom; padding-bottom: 1.5pt; border-bottom: 0.5pt solid #000000; padding-right: 0pt; ">
                                <P style="margin-left: 0pt; color: #000000; text-indent: 0pt; font-size: 8pt; font-family: Arial, sans-serif; line-height: normal; margin-top: 0; margin-bottom: 0; text-align: center; margin-right: 0pt; "><FONT style="font-weight: bold; "><B>&#160;</B></FONT></P>
                            </TD>
                            <TD style="border-top: 0pt; padding-top: 0pt; border-right: 0pt; border-left: 0pt; padding-left: 0pt; vertical-align: bottom; padding-bottom: 0pt; border-bottom: 0.5pt solid #000000; padding-right: 0pt; ">
                                <P style="margin-left: 0pt; font-size: 1pt; line-height: 1pt; margin-top: 0pt; margin-bottom: 0; margin-right: 0pt; ">&#8203;</P>
                            </TD>
                            <TD style="border-top: 0pt; padding-top: 1.5pt; border-right: 0pt; border-left: 0pt; padding-left: 0pt; vertical-align: bottom; padding-bottom: 1.5pt; border-bottom: 0.5pt solid #000000; padding-right: 0pt; ">
                                <P style="margin-left: 0pt; color: #000000; text-indent: 0pt; font-size: 8pt; font-family: Arial, sans-serif; line-height: normal; margin-top: 0; margin-bottom: 0; text-align: center; margin-right: 0pt; "><FONT style="font-weight: bold; "><B>Total<br>Value at<br>August 31, 2025</B></FONT></P>
                            </TD>
                            <TD style="border-top: 0pt; padding-top: 0pt; border-right: 0pt; border-left: 0pt; padding-left: 0pt; vertical-align: bottom; padding-bottom: 0pt; border-bottom: 0.5pt solid #000000; padding-right: 0pt; ">
                                <P style="margin-left: 0pt; font-size: 1pt; line-height: 1pt; margin-top: 0pt; margin-bottom: 0; margin-right: 0pt; ">&#8203;</P>
                            </TD>
                            <TD style="border-top: 0pt; padding-top: 1.5pt; border-right: 0pt; border-left: 0pt; padding-left: 0pt; vertical-align: bottom; padding-bottom: 1.5pt; border-bottom: 0.5pt solid #000000; padding-right: 0pt; ">
                                <P style="margin-left: 0pt; color: #000000; text-indent: 0pt; font-size: 8pt; font-family: Arial, sans-serif; line-height: normal; margin-top: 0; margin-bottom: 0; text-align: center; margin-right: 0pt; "><FONT style="font-weight: bold; "><B>Level 1<br>Quoted<br>Price</B></FONT></P>
                            </TD>
                            <TD style="border-top: 0pt; padding-top: 0pt; border-right: 0pt; border-left: 0pt; padding-left: 0pt; vertical-align: bottom; padding-bottom: 0pt; border-bottom: 0.5pt solid #000000; padding-right: 0pt; ">
                                <P style="margin-left: 0pt; font-size: 1pt; line-height: 1pt; margin-top: 0pt; margin-bottom: 0; margin-right: 0pt; ">&#8203;</P>
                            </TD>
                            <TD style="border-top: 0pt; padding-top: 1.5pt; border-right: 0pt; border-left: 0pt; padding-left: 0pt; vertical-align: bottom; padding-bottom: 1.5pt; border-bottom: 0.5pt solid #000000; padding-right: 0pt; ">
                                <P style="margin-left: 0pt; color: #000000; text-indent: 0pt; font-size: 8pt; font-family: Arial, sans-serif; line-height: normal; margin-top: 0; margin-bottom: 0; text-align: center; margin-right: 0pt; "><FONT style="font-weight: bold; "><B>Level 2<br>Significant<br>Observable<br>Inputs</B></FONT></P>
                            </TD>
                            <TD style="border-top: 0pt; padding-top: 0pt; border-right: 0pt; border-left: 0pt; padding-left: 0pt; vertical-align: bottom; padding-bottom: 0pt; border-bottom: 0.5pt solid #000000; padding-right: 0pt; ">
                                <P style="margin-left: 0pt; font-size: 1pt; line-height: 1pt; margin-top: 0pt; margin-bottom: 0; margin-right: 0pt; ">&#8203;</P>
                            </TD>
                            <TD style="border-top: 0pt; padding-top: 1.5pt; border-right: 0pt; border-left: 0pt; padding-left: 0pt; vertical-align: bottom; padding-bottom: 1.5pt; border-bottom: 0.5pt solid #000000; padding-right: 0pt; ">
                                <P style="margin-left: 0pt; color: #000000; text-indent: 0pt; font-size: 8pt; font-family: Arial, sans-serif; line-height: normal; margin-top: 0; margin-bottom: 0; text-align: center; margin-right: 0pt; "><FONT style="font-weight: bold; "><B>Level 3<br>Significant<br>Unobservable<br>Inputs</B></FONT></P>
                            </TD>
                        </TR>
                        <TR style="min-height: 3pt; ">
                            <TD style="background-color: #cceeff; border-top: 0.5pt solid #000000; padding-top: 1.5pt; border-right: 0pt; border-left: 0pt; padding-left: 0pt; vertical-align: top; padding-bottom: 1.5pt; border-bottom: 0pt; padding-right: 0pt; ">
                                <P style="margin-left: 22.5pt; color: #000000; text-indent: -22.5pt; font-size: 9pt; font-family: Arial, sans-serif; line-height: normal; margin-top: 0; margin-bottom: 0; text-align: left; margin-right: 0pt; "><FONT style="font-weight: bold; "><B>Preferred Stock &amp; Hybrid Preferred Securities</B></FONT></P>
                            </TD>
                            <TD style="background-color: #cceeff; border-top: 0.5pt solid #000000; padding-top: 0pt; border-right: 0pt; border-left: 0pt; padding-left: 0pt; vertical-align: top; padding-bottom: 0pt; border-bottom: 0pt; padding-right: 0pt; ">
                                <P style="margin-left: 0pt; font-size: 1pt; line-height: 1pt; margin-top: 0pt; margin-bottom: 0; margin-right: 0pt; ">&#8203;</P>
                            </TD>
                            <TD style="background-color: #cceeff; border-top: 0.5pt solid #000000; padding-top: 0pt; border-right: 0pt; border-left: 0pt; padding-left: 0pt; vertical-align: top; padding-bottom: 0pt; border-bottom: 0pt; padding-right: 0pt; ">
                                <P style="margin-left: 0pt; font-size: 1pt; line-height: 1pt; margin-top: 0pt; margin-bottom: 0; margin-right: 0pt; ">&#8203;</P>
                            </TD>
                            <TD style="background-color: #cceeff; border-top: 0.5pt solid #000000; padding-top: 0pt; border-right: 0pt; border-left: 0pt; padding-left: 0pt; vertical-align: top; padding-bottom: 0pt; border-bottom: 0pt; padding-right: 0pt; ">
                                <P style="margin-left: 0pt; font-size: 1pt; line-height: 1pt; margin-top: 0pt; margin-bottom: 0; margin-right: 0pt; ">&#8203;</P>
                            </TD>
                            <TD style="background-color: #cceeff; border-top: 0.5pt solid #000000; padding-top: 0pt; border-right: 0pt; border-left: 0pt; padding-left: 0pt; vertical-align: top; padding-bottom: 0pt; border-bottom: 0pt; padding-right: 0pt; ">
                                <P style="margin-left: 0pt; font-size: 1pt; line-height: 1pt; margin-top: 0pt; margin-bottom: 0; margin-right: 0pt; ">&#8203;</P>
                            </TD>
                            <TD style="background-color: #cceeff; border-top: 0.5pt solid #000000; padding-top: 0pt; border-right: 0pt; border-left: 0pt; padding-left: 0pt; vertical-align: top; padding-bottom: 0pt; border-bottom: 0pt; padding-right: 0pt; ">
                                <P style="margin-left: 0pt; font-size: 1pt; line-height: 1pt; margin-top: 0pt; margin-bottom: 0; margin-right: 0pt; ">&#8203;</P>
                            </TD>
                            <TD style="background-color: #cceeff; border-top: 0.5pt solid #000000; padding-top: 0pt; border-right: 0pt; border-left: 0pt; padding-left: 0pt; vertical-align: top; padding-bottom: 0pt; border-bottom: 0pt; padding-right: 0pt; ">
                                <P style="margin-left: 0pt; font-size: 1pt; line-height: 1pt; margin-top: 0pt; margin-bottom: 0; margin-right: 0pt; ">&#8203;</P>
                            </TD>
                            <TD style="background-color: #cceeff; border-top: 0.5pt solid #000000; padding-top: 0pt; border-right: 0pt; border-left: 0pt; padding-left: 0pt; vertical-align: top; padding-bottom: 0pt; border-bottom: 0pt; padding-right: 0pt; ">
                                <P style="margin-left: 0pt; font-size: 1pt; line-height: 1pt; margin-top: 0pt; margin-bottom: 0; margin-right: 0pt; ">&#8203;</P>
                            </TD>
                            <TD style="background-color: #cceeff; border-top: 0.5pt solid #000000; padding-top: 0pt; border-right: 0pt; border-left: 0pt; padding-left: 0pt; vertical-align: top; padding-bottom: 0pt; border-bottom: 0pt; padding-right: 0pt; ">
                                <P style="margin-left: 0pt; font-size: 1pt; line-height: 1pt; margin-top: 0pt; margin-bottom: 0; margin-right: 0pt; ">&#8203;</P>
                            </TD>
                        </TR>
                        <TR style="min-height: 3pt; ">
                            <TD style="border-top: 0pt; padding-top: 1.5pt; border-right: 0pt; border-left: 0pt; padding-left: 0pt; vertical-align: top; padding-bottom: 1.5pt; border-bottom: 0pt; padding-right: 0pt; ">
                                <P style="margin-left: 33.75pt; color: #000000; text-indent: -22.5pt; font-size: 9pt; font-family: Arial, sans-serif; line-height: normal; margin-top: 0; margin-bottom: 0; text-align: left; margin-right: 0pt; "><FONT>Banking </FONT></P>
                            </TD>
                            <TD style="border-top: 0pt; padding-top: 0pt; border-right: 0pt; border-left: 0pt; padding-left: 0pt; vertical-align: top; padding-bottom: 0pt; border-bottom: 0pt; padding-right: 0pt; ">
                                <P style="margin-left: 0pt; font-size: 1pt; line-height: 1pt; margin-top: 0pt; margin-bottom: 0; margin-right: 0pt; ">&#8203;</P>
                            </TD>
                            <TD style="border-top: 0pt; padding-top: 1.5pt; border-right: 0pt; border-left: 0pt; padding-left: 0pt; vertical-align: top; padding-bottom: 1.5pt; border-bottom: 0pt; padding-right: 0pt; ">
                                <P style="margin-left: 0pt; color: #000000; font-size: 9pt; font-family: Arial, sans-serif; line-height: normal; margin-top: 0; margin-bottom: 0; text-align: right; margin-right: 0pt; "><FONT style="float: left; "><FONT>$</FONT></FONT><FONT style="float: right; "><FONT>84,589,036</FONT></FONT><FONT style="font-size: 9pt; ">&#8203;</FONT>                                    <BR clear="all"></P>
                            </TD>
                            <TD style="border-top: 0pt; padding-top: 0pt; border-right: 0pt; border-left: 0pt; padding-left: 0pt; vertical-align: top; padding-bottom: 0pt; border-bottom: 0pt; padding-right: 0pt; ">
                                <P style="margin-left: 0pt; font-size: 1pt; line-height: 1pt; margin-top: 0pt; margin-bottom: 0; margin-right: 0pt; ">&#8203;</P>
                            </TD>
                            <TD style="border-top: 0pt; padding-top: 1.5pt; border-right: 0pt; border-left: 0pt; padding-left: 0pt; vertical-align: top; padding-bottom: 1.5pt; border-bottom: 0pt; padding-right: 0pt; ">
                                <P style="margin-left: 0pt; color: #000000; font-size: 9pt; font-family: Arial, sans-serif; line-height: normal; margin-top: 0; margin-bottom: 0; text-align: right; margin-right: 0pt; "><FONT style="float: left; "><FONT>$</FONT></FONT><FONT style="float: right; "><FONT>44,029,374</FONT></FONT><FONT style="font-size: 9pt; ">&#8203;</FONT>                                    <BR clear="all"></P>
                            </TD>
                            <TD style="border-top: 0pt; padding-top: 0pt; border-right: 0pt; border-left: 0pt; padding-left: 0pt; vertical-align: top; padding-bottom: 0pt; border-bottom: 0pt; padding-right: 0pt; ">
                                <P style="margin-left: 0pt; font-size: 1pt; line-height: 1pt; margin-top: 0pt; margin-bottom: 0; margin-right: 0pt; ">&#8203;</P>
                            </TD>
                            <TD style="border-top: 0pt; padding-top: 1.5pt; border-right: 0pt; border-left: 0pt; padding-left: 0pt; vertical-align: top; padding-bottom: 1.5pt; border-bottom: 0pt; padding-right: 0pt; ">
                                <P style="margin-left: 0pt; color: #000000; font-size: 9pt; font-family: Arial, sans-serif; line-height: normal; margin-top: 0; margin-bottom: 0; text-align: right; margin-right: 0pt; "><FONT style="float: left; "><FONT>$</FONT></FONT><FONT style="float: right; "><FONT>40,559,662</FONT></FONT><FONT style="font-size: 9pt; ">&#8203;</FONT>                                    <BR clear="all"></P>
                            </TD>
                            <TD style="border-top: 0pt; padding-top: 0pt; border-right: 0pt; border-left: 0pt; padding-left: 0pt; vertical-align: top; padding-bottom: 0pt; border-bottom: 0pt; padding-right: 0pt; ">
                                <P style="margin-left: 0pt; font-size: 1pt; line-height: 1pt; margin-top: 0pt; margin-bottom: 0; margin-right: 0pt; ">&#8203;</P>
                            </TD>
                            <TD style="border-top: 0pt; padding-top: 1.5pt; border-right: 0pt; border-left: 0pt; padding-left: 0pt; vertical-align: top; padding-bottom: 1.5pt; border-bottom: 0pt; padding-right: 0pt; ">
                                <P style="margin-left: 0pt; color: #000000; font-size: 9pt; font-family: Arial, sans-serif; line-height: normal; margin-top: 0; margin-bottom: 0; text-align: right; margin-right: 0pt; "><FONT style="float: left; "><FONT>$</FONT></FONT><FONT style="float: right; "><FONT>&#8212;</FONT></FONT><FONT style="font-size: 9pt; ">&#8203;</FONT>                                    <BR clear="all"></P>
                            </TD>
                        </TR>
                        <TR style="min-height: 3pt; ">
                            <TD style="background-color: #cceeff; border-top: 0pt; padding-top: 1.5pt; border-right: 0pt; border-left: 0pt; padding-left: 0pt; vertical-align: top; padding-bottom: 1.5pt; border-bottom: 0pt; padding-right: 0pt; ">
                                <P style="margin-left: 33.75pt; color: #000000; text-indent: -22.5pt; font-size: 9pt; font-family: Arial, sans-serif; line-height: normal; margin-top: 0; margin-bottom: 0; text-align: left; margin-right: 0pt; "><FONT>Financial Services </FONT></P>
                            </TD>
                            <TD style="background-color: #cceeff; border-top: 0pt; padding-top: 0pt; border-right: 0pt; border-left: 0pt; padding-left: 0pt; vertical-align: top; padding-bottom: 0pt; border-bottom: 0pt; padding-right: 0pt; ">
                                <P style="margin-left: 0pt; font-size: 1pt; line-height: 1pt; margin-top: 0pt; margin-bottom: 0; margin-right: 0pt; ">&#8203;</P>
                            </TD>
                            <TD style="background-color: #cceeff; border-top: 0pt; padding-top: 1.5pt; border-right: 0pt; border-left: 0pt; padding-left: 0pt; vertical-align: top; padding-bottom: 1.5pt; border-bottom: 0pt; padding-right: 0pt; ">
                                <P style="margin-left: 0pt; color: #000000; font-size: 9pt; font-family: Arial, sans-serif; line-height: normal; margin-top: 0; margin-bottom: 0; text-align: right; margin-right: 0pt; "><FONT>7,534,008</FONT></P>
                            </TD>
                            <TD style="background-color: #cceeff; border-top: 0pt; padding-top: 0pt; border-right: 0pt; border-left: 0pt; padding-left: 0pt; vertical-align: top; padding-bottom: 0pt; border-bottom: 0pt; padding-right: 0pt; ">
                                <P style="margin-left: 0pt; font-size: 1pt; line-height: 1pt; margin-top: 0pt; margin-bottom: 0; margin-right: 0pt; ">&#8203;</P>
                            </TD>
                            <TD style="background-color: #cceeff; border-top: 0pt; padding-top: 1.5pt; border-right: 0pt; border-left: 0pt; padding-left: 0pt; vertical-align: top; padding-bottom: 1.5pt; border-bottom: 0pt; padding-right: 0pt; ">
                                <P style="margin-left: 0pt; color: #000000; font-size: 9pt; font-family: Arial, sans-serif; line-height: normal; margin-top: 0; margin-bottom: 0; text-align: right; margin-right: 0pt; "><FONT>2,328,258</FONT></P>
                            </TD>
                            <TD style="background-color: #cceeff; border-top: 0pt; padding-top: 0pt; border-right: 0pt; border-left: 0pt; padding-left: 0pt; vertical-align: top; padding-bottom: 0pt; border-bottom: 0pt; padding-right: 0pt; ">
                                <P style="margin-left: 0pt; font-size: 1pt; line-height: 1pt; margin-top: 0pt; margin-bottom: 0; margin-right: 0pt; ">&#8203;</P>
                            </TD>
                            <TD style="background-color: #cceeff; border-top: 0pt; padding-top: 1.5pt; border-right: 0pt; border-left: 0pt; padding-left: 0pt; vertical-align: top; padding-bottom: 1.5pt; border-bottom: 0pt; padding-right: 0pt; ">
                                <P style="margin-left: 0pt; color: #000000; font-size: 9pt; font-family: Arial, sans-serif; line-height: normal; margin-top: 0; margin-bottom: 0; text-align: right; margin-right: 0pt; "><FONT>5,205,750</FONT></P>
                            </TD>
                            <TD style="background-color: #cceeff; border-top: 0pt; padding-top: 0pt; border-right: 0pt; border-left: 0pt; padding-left: 0pt; vertical-align: top; padding-bottom: 0pt; border-bottom: 0pt; padding-right: 0pt; ">
                                <P style="margin-left: 0pt; font-size: 1pt; line-height: 1pt; margin-top: 0pt; margin-bottom: 0; margin-right: 0pt; ">&#8203;</P>
                            </TD>
                            <TD style="background-color: #cceeff; border-top: 0pt; padding-top: 1.5pt; border-right: 0pt; border-left: 0pt; padding-left: 0pt; vertical-align: top; padding-bottom: 1.5pt; border-bottom: 0pt; padding-right: 0pt; ">
                                <P style="margin-left: 0pt; color: #000000; font-size: 9pt; font-family: Arial, sans-serif; line-height: normal; margin-top: 0; margin-bottom: 0; text-align: right; margin-right: 0pt; "><FONT>&#8212;</FONT></P>
                            </TD>
                        </TR>
                        <TR style="min-height: 3pt; ">
                            <TD style="border-top: 0pt; padding-top: 1.5pt; border-right: 0pt; border-left: 0pt; padding-left: 0pt; vertical-align: top; padding-bottom: 1.5pt; border-bottom: 0pt; padding-right: 0pt; ">
                                <P style="margin-left: 33.75pt; color: #000000; text-indent: -22.5pt; font-size: 9pt; font-family: Arial, sans-serif; line-height: normal; margin-top: 0; margin-bottom: 0; text-align: left; margin-right: 0pt; "><FONT>Insurance </FONT></P>
                            </TD>
                            <TD style="border-top: 0pt; padding-top: 0pt; border-right: 0pt; border-left: 0pt; padding-left: 0pt; vertical-align: top; padding-bottom: 0pt; border-bottom: 0pt; padding-right: 0pt; ">
                                <P style="margin-left: 0pt; font-size: 1pt; line-height: 1pt; margin-top: 0pt; margin-bottom: 0; margin-right: 0pt; ">&#8203;</P>
                            </TD>
                            <TD style="border-top: 0pt; padding-top: 1.5pt; border-right: 0pt; border-left: 0pt; padding-left: 0pt; vertical-align: top; padding-bottom: 1.5pt; border-bottom: 0pt; padding-right: 0pt; ">
                                <P style="margin-left: 0pt; color: #000000; font-size: 9pt; font-family: Arial, sans-serif; line-height: normal; margin-top: 0; margin-bottom: 0; text-align: right; margin-right: 0pt; "><FONT>44,892,651</FONT></P>
                            </TD>
                            <TD style="border-top: 0pt; padding-top: 0pt; border-right: 0pt; border-left: 0pt; padding-left: 0pt; vertical-align: top; padding-bottom: 0pt; border-bottom: 0pt; padding-right: 0pt; ">
                                <P style="margin-left: 0pt; font-size: 1pt; line-height: 1pt; margin-top: 0pt; margin-bottom: 0; margin-right: 0pt; ">&#8203;</P>
                            </TD>
                            <TD style="border-top: 0pt; padding-top: 1.5pt; border-right: 0pt; border-left: 0pt; padding-left: 0pt; vertical-align: top; padding-bottom: 1.5pt; border-bottom: 0pt; padding-right: 0pt; ">
                                <P style="margin-left: 0pt; color: #000000; font-size: 9pt; font-family: Arial, sans-serif; line-height: normal; margin-top: 0; margin-bottom: 0; text-align: right; margin-right: 0pt; "><FONT>9,721,590</FONT></P>
                            </TD>
                            <TD style="border-top: 0pt; padding-top: 0pt; border-right: 0pt; border-left: 0pt; padding-left: 0pt; vertical-align: top; padding-bottom: 0pt; border-bottom: 0pt; padding-right: 0pt; ">
                                <P style="margin-left: 0pt; font-size: 1pt; line-height: 1pt; margin-top: 0pt; margin-bottom: 0; margin-right: 0pt; ">&#8203;</P>
                            </TD>
                            <TD style="border-top: 0pt; padding-top: 1.5pt; border-right: 0pt; border-left: 0pt; padding-left: 0pt; vertical-align: top; padding-bottom: 1.5pt; border-bottom: 0pt; padding-right: 0pt; ">
                                <P style="margin-left: 0pt; color: #000000; font-size: 9pt; font-family: Arial, sans-serif; line-height: normal; margin-top: 0; margin-bottom: 0; text-align: right; margin-right: 0pt; "><FONT>35,171,061</FONT></P>
                            </TD>
                            <TD style="border-top: 0pt; padding-top: 0pt; border-right: 0pt; border-left: 0pt; padding-left: 0pt; vertical-align: top; padding-bottom: 0pt; border-bottom: 0pt; padding-right: 0pt; ">
                                <P style="margin-left: 0pt; font-size: 1pt; line-height: 1pt; margin-top: 0pt; margin-bottom: 0; margin-right: 0pt; ">&#8203;</P>
                            </TD>
                            <TD style="border-top: 0pt; padding-top: 1.5pt; border-right: 0pt; border-left: 0pt; padding-left: 0pt; vertical-align: top; padding-bottom: 1.5pt; border-bottom: 0pt; padding-right: 0pt; ">
                                <P style="margin-left: 0pt; color: #000000; font-size: 9pt; font-family: Arial, sans-serif; line-height: normal; margin-top: 0; margin-bottom: 0; text-align: right; margin-right: 0pt; "><FONT>&#8212;</FONT></P>
                            </TD>
                        </TR>
                        <TR style="min-height: 3pt; ">
                            <TD style="background-color: #cceeff; border-top: 0pt; padding-top: 1.5pt; border-right: 0pt; border-left: 0pt; padding-left: 0pt; vertical-align: top; padding-bottom: 1.5pt; border-bottom: 0pt; padding-right: 0pt; ">
                                <P style="margin-left: 33.75pt; color: #000000; text-indent: -22.5pt; font-size: 9pt; font-family: Arial, sans-serif; line-height: normal; margin-top: 0; margin-bottom: 0; text-align: left; margin-right: 0pt; "><FONT>Utilities </FONT></P>
                            </TD>
                            <TD style="background-color: #cceeff; border-top: 0pt; padding-top: 0pt; border-right: 0pt; border-left: 0pt; padding-left: 0pt; vertical-align: top; padding-bottom: 0pt; border-bottom: 0pt; padding-right: 0pt; ">
                                <P style="margin-left: 0pt; font-size: 1pt; line-height: 1pt; margin-top: 0pt; margin-bottom: 0; margin-right: 0pt; ">&#8203;</P>
                            </TD>
                            <TD style="background-color: #cceeff; border-top: 0pt; padding-top: 1.5pt; border-right: 0pt; border-left: 0pt; padding-left: 0pt; vertical-align: top; padding-bottom: 1.5pt; border-bottom: 0pt; padding-right: 0pt; ">
                                <P style="margin-left: 0pt; color: #000000; font-size: 9pt; font-family: Arial, sans-serif; line-height: normal; margin-top: 0; margin-bottom: 0; text-align: right; margin-right: 0pt; "><FONT>30,039,226</FONT></P>
                            </TD>
                            <TD style="background-color: #cceeff; border-top: 0pt; padding-top: 0pt; border-right: 0pt; border-left: 0pt; padding-left: 0pt; vertical-align: top; padding-bottom: 0pt; border-bottom: 0pt; padding-right: 0pt; ">
                                <P style="margin-left: 0pt; font-size: 1pt; line-height: 1pt; margin-top: 0pt; margin-bottom: 0; margin-right: 0pt; ">&#8203;</P>
                            </TD>
                            <TD style="background-color: #cceeff; border-top: 0pt; padding-top: 1.5pt; border-right: 0pt; border-left: 0pt; padding-left: 0pt; vertical-align: top; padding-bottom: 1.5pt; border-bottom: 0pt; padding-right: 0pt; ">
                                <P style="margin-left: 0pt; color: #000000; font-size: 9pt; font-family: Arial, sans-serif; line-height: normal; margin-top: 0; margin-bottom: 0; text-align: right; margin-right: 0pt; "><FONT>3,307,439</FONT></P>
                            </TD>
                            <TD style="background-color: #cceeff; border-top: 0pt; padding-top: 0pt; border-right: 0pt; border-left: 0pt; padding-left: 0pt; vertical-align: top; padding-bottom: 0pt; border-bottom: 0pt; padding-right: 0pt; ">
                                <P style="margin-left: 0pt; font-size: 1pt; line-height: 1pt; margin-top: 0pt; margin-bottom: 0; margin-right: 0pt; ">&#8203;</P>
                            </TD>
                            <TD style="background-color: #cceeff; border-top: 0pt; padding-top: 1.5pt; border-right: 0pt; border-left: 0pt; padding-left: 0pt; vertical-align: top; padding-bottom: 1.5pt; border-bottom: 0pt; padding-right: 0pt; ">
                                <P style="margin-left: 0pt; color: #000000; font-size: 9pt; font-family: Arial, sans-serif; line-height: normal; margin-top: 0; margin-bottom: 0; text-align: right; margin-right: 0pt; "><FONT>26,731,787</FONT></P>
                            </TD>
                            <TD style="background-color: #cceeff; border-top: 0pt; padding-top: 0pt; border-right: 0pt; border-left: 0pt; padding-left: 0pt; vertical-align: top; padding-bottom: 0pt; border-bottom: 0pt; padding-right: 0pt; ">
                                <P style="margin-left: 0pt; font-size: 1pt; line-height: 1pt; margin-top: 0pt; margin-bottom: 0; margin-right: 0pt; ">&#8203;</P>
                            </TD>
                            <TD style="background-color: #cceeff; border-top: 0pt; padding-top: 1.5pt; border-right: 0pt; border-left: 0pt; padding-left: 0pt; vertical-align: top; padding-bottom: 1.5pt; border-bottom: 0pt; padding-right: 0pt; ">
                                <P style="margin-left: 0pt; color: #000000; font-size: 9pt; font-family: Arial, sans-serif; line-height: normal; margin-top: 0; margin-bottom: 0; text-align: right; margin-right: 0pt; "><FONT>&#8212;</FONT></P>
                            </TD>
                        </TR>
                        <TR style="min-height: 3pt; ">
                            <TD style="border-top: 0pt; padding-top: 1.5pt; border-right: 0pt; border-left: 0pt; padding-left: 0pt; vertical-align: top; padding-bottom: 1.5pt; border-bottom: 0pt; padding-right: 0pt; ">
                                <P style="margin-left: 33.75pt; color: #000000; text-indent: -22.5pt; font-size: 9pt; font-family: Arial, sans-serif; line-height: normal; margin-top: 0; margin-bottom: 0; text-align: left; margin-right: 0pt; "><FONT>Energy </FONT></P>
                            </TD>
                            <TD style="border-top: 0pt; padding-top: 0pt; border-right: 0pt; border-left: 0pt; padding-left: 0pt; vertical-align: top; padding-bottom: 0pt; border-bottom: 0pt; padding-right: 0pt; ">
                                <P style="margin-left: 0pt; font-size: 1pt; line-height: 1pt; margin-top: 0pt; margin-bottom: 0; margin-right: 0pt; ">&#8203;</P>
                            </TD>
                            <TD style="border-top: 0pt; padding-top: 1.5pt; border-right: 0pt; border-left: 0pt; padding-left: 0pt; vertical-align: top; padding-bottom: 1.5pt; border-bottom: 0pt; padding-right: 0pt; ">
                                <P style="margin-left: 0pt; color: #000000; font-size: 9pt; font-family: Arial, sans-serif; line-height: normal; margin-top: 0; margin-bottom: 0; text-align: right; margin-right: 0pt; "><FONT>10,811,795</FONT></P>
                            </TD>
                            <TD style="border-top: 0pt; padding-top: 0pt; border-right: 0pt; border-left: 0pt; padding-left: 0pt; vertical-align: top; padding-bottom: 0pt; border-bottom: 0pt; padding-right: 0pt; ">
                                <P style="margin-left: 0pt; font-size: 1pt; line-height: 1pt; margin-top: 0pt; margin-bottom: 0; margin-right: 0pt; ">&#8203;</P>
                            </TD>
                            <TD style="border-top: 0pt; padding-top: 1.5pt; border-right: 0pt; border-left: 0pt; padding-left: 0pt; vertical-align: top; padding-bottom: 1.5pt; border-bottom: 0pt; padding-right: 0pt; ">
                                <P style="margin-left: 0pt; color: #000000; font-size: 9pt; font-family: Arial, sans-serif; line-height: normal; margin-top: 0; margin-bottom: 0; text-align: right; margin-right: 0pt; "><FONT>&#8212;</FONT></P>
                            </TD>
                            <TD style="border-top: 0pt; padding-top: 0pt; border-right: 0pt; border-left: 0pt; padding-left: 0pt; vertical-align: top; padding-bottom: 0pt; border-bottom: 0pt; padding-right: 0pt; ">
                                <P style="margin-left: 0pt; font-size: 1pt; line-height: 1pt; margin-top: 0pt; margin-bottom: 0; margin-right: 0pt; ">&#8203;</P>
                            </TD>
                            <TD style="border-top: 0pt; padding-top: 1.5pt; border-right: 0pt; border-left: 0pt; padding-left: 0pt; vertical-align: top; padding-bottom: 1.5pt; border-bottom: 0pt; padding-right: 0pt; ">
                                <P style="margin-left: 0pt; color: #000000; font-size: 9pt; font-family: Arial, sans-serif; line-height: normal; margin-top: 0; margin-bottom: 0; text-align: right; margin-right: 0pt; "><FONT>10,811,795</FONT></P>
                            </TD>
                            <TD style="border-top: 0pt; padding-top: 0pt; border-right: 0pt; border-left: 0pt; padding-left: 0pt; vertical-align: top; padding-bottom: 0pt; border-bottom: 0pt; padding-right: 0pt; ">
                                <P style="margin-left: 0pt; font-size: 1pt; line-height: 1pt; margin-top: 0pt; margin-bottom: 0; margin-right: 0pt; ">&#8203;</P>
                            </TD>
                            <TD style="border-top: 0pt; padding-top: 1.5pt; border-right: 0pt; border-left: 0pt; padding-left: 0pt; vertical-align: top; padding-bottom: 1.5pt; border-bottom: 0pt; padding-right: 0pt; ">
                                <P style="margin-left: 0pt; color: #000000; font-size: 9pt; font-family: Arial, sans-serif; line-height: normal; margin-top: 0; margin-bottom: 0; text-align: right; margin-right: 0pt; "><FONT>&#8212;</FONT></P>
                            </TD>
                        </TR>
                        <TR style="min-height: 3pt; ">
                            <TD style="background-color: #cceeff; border-top: 0pt; padding-top: 1.5pt; border-right: 0pt; border-left: 0pt; padding-left: 0pt; vertical-align: top; padding-bottom: 1.5pt; border-bottom: 0pt; padding-right: 0pt; ">
                                <P style="margin-left: 33.75pt; color: #000000; text-indent: -22.5pt; font-size: 9pt; font-family: Arial, sans-serif; line-height: normal; margin-top: 0; margin-bottom: 0; text-align: left; margin-right: 0pt; "><FONT>Communication </FONT></P>
                            </TD>
                            <TD style="background-color: #cceeff; border-top: 0pt; padding-top: 0pt; border-right: 0pt; border-left: 0pt; padding-left: 0pt; vertical-align: top; padding-bottom: 0pt; border-bottom: 0pt; padding-right: 0pt; ">
                                <P style="margin-left: 0pt; font-size: 1pt; line-height: 1pt; margin-top: 0pt; margin-bottom: 0; margin-right: 0pt; ">&#8203;</P>
                            </TD>
                            <TD style="background-color: #cceeff; border-top: 0pt; padding-top: 1.5pt; border-right: 0pt; border-left: 0pt; padding-left: 0pt; vertical-align: top; padding-bottom: 1.5pt; border-bottom: 0pt; padding-right: 0pt; ">
                                <P style="margin-left: 0pt; color: #000000; font-size: 9pt; font-family: Arial, sans-serif; line-height: normal; margin-top: 0; margin-bottom: 0; text-align: right; margin-right: 0pt; "><FONT>3,816,554</FONT></P>
                            </TD>
                            <TD style="background-color: #cceeff; border-top: 0pt; padding-top: 0pt; border-right: 0pt; border-left: 0pt; padding-left: 0pt; vertical-align: top; padding-bottom: 0pt; border-bottom: 0pt; padding-right: 0pt; ">
                                <P style="margin-left: 0pt; font-size: 1pt; line-height: 1pt; margin-top: 0pt; margin-bottom: 0; margin-right: 0pt; ">&#8203;</P>
                            </TD>
                            <TD style="background-color: #cceeff; border-top: 0pt; padding-top: 1.5pt; border-right: 0pt; border-left: 0pt; padding-left: 0pt; vertical-align: top; padding-bottom: 1.5pt; border-bottom: 0pt; padding-right: 0pt; ">
                                <P style="margin-left: 0pt; color: #000000; font-size: 9pt; font-family: Arial, sans-serif; line-height: normal; margin-top: 0; margin-bottom: 0; text-align: right; margin-right: 0pt; "><FONT>&#8212;</FONT></P>
                            </TD>
                            <TD style="background-color: #cceeff; border-top: 0pt; padding-top: 0pt; border-right: 0pt; border-left: 0pt; padding-left: 0pt; vertical-align: top; padding-bottom: 0pt; border-bottom: 0pt; padding-right: 0pt; ">
                                <P style="margin-left: 0pt; font-size: 1pt; line-height: 1pt; margin-top: 0pt; margin-bottom: 0; margin-right: 0pt; ">&#8203;</P>
                            </TD>
                            <TD style="background-color: #cceeff; border-top: 0pt; padding-top: 1.5pt; border-right: 0pt; border-left: 0pt; padding-left: 0pt; vertical-align: top; padding-bottom: 1.5pt; border-bottom: 0pt; padding-right: 0pt; ">
                                <P style="margin-left: 0pt; color: #000000; font-size: 9pt; font-family: Arial, sans-serif; line-height: normal; margin-top: 0; margin-bottom: 0; text-align: right; margin-right: 0pt; "><FONT>3,816,554</FONT></P>
                            </TD>
                            <TD style="background-color: #cceeff; border-top: 0pt; padding-top: 0pt; border-right: 0pt; border-left: 0pt; padding-left: 0pt; vertical-align: top; padding-bottom: 0pt; border-bottom: 0pt; padding-right: 0pt; ">
                                <P style="margin-left: 0pt; font-size: 1pt; line-height: 1pt; margin-top: 0pt; margin-bottom: 0; margin-right: 0pt; ">&#8203;</P>
                            </TD>
                            <TD style="background-color: #cceeff; border-top: 0pt; padding-top: 1.5pt; border-right: 0pt; border-left: 0pt; padding-left: 0pt; vertical-align: top; padding-bottom: 1.5pt; border-bottom: 0pt; padding-right: 0pt; ">
                                <P style="margin-left: 0pt; color: #000000; font-size: 9pt; font-family: Arial, sans-serif; line-height: normal; margin-top: 0; margin-bottom: 0; text-align: right; margin-right: 0pt; "><FONT>&#8212;</FONT></P>
                            </TD>
                        </TR>
                        <TR style="min-height: 3pt; ">
                            <TD style="border-top: 0pt; padding-top: 1.5pt; border-right: 0pt; border-left: 0pt; padding-left: 0pt; vertical-align: top; padding-bottom: 1.5pt; border-bottom: 0pt; padding-right: 0pt; ">
                                <P style="margin-left: 33.75pt; color: #000000; text-indent: -22.5pt; font-size: 9pt; font-family: Arial, sans-serif; line-height: normal; margin-top: 0; margin-bottom: 0; text-align: left; margin-right: 0pt; "><FONT>Real Estate Investment Trust (REIT) </FONT></P>
                            </TD>
                            <TD style="border-top: 0pt; padding-top: 0pt; border-right: 0pt; border-left: 0pt; padding-left: 0pt; vertical-align: top; padding-bottom: 0pt; border-bottom: 0pt; padding-right: 0pt; ">
                                <P style="margin-left: 0pt; font-size: 1pt; line-height: 1pt; margin-top: 0pt; margin-bottom: 0; margin-right: 0pt; ">&#8203;</P>
                            </TD>
                            <TD style="border-top: 0pt; padding-top: 1.5pt; border-right: 0pt; border-left: 0pt; padding-left: 0pt; vertical-align: top; padding-bottom: 1.5pt; border-bottom: 0pt; padding-right: 0pt; ">
                                <P style="margin-left: 0pt; color: #000000; font-size: 9pt; font-family: Arial, sans-serif; line-height: normal; margin-top: 0; margin-bottom: 0; text-align: right; margin-right: 0pt; "><FONT>3,823,957</FONT></P>
                            </TD>
                            <TD style="border-top: 0pt; padding-top: 0pt; border-right: 0pt; border-left: 0pt; padding-left: 0pt; vertical-align: top; padding-bottom: 0pt; border-bottom: 0pt; padding-right: 0pt; ">
                                <P style="margin-left: 0pt; font-size: 1pt; line-height: 1pt; margin-top: 0pt; margin-bottom: 0; margin-right: 0pt; ">&#8203;</P>
                            </TD>
                            <TD style="border-top: 0pt; padding-top: 1.5pt; border-right: 0pt; border-left: 0pt; padding-left: 0pt; vertical-align: top; padding-bottom: 1.5pt; border-bottom: 0pt; padding-right: 0pt; ">
                                <P style="margin-left: 0pt; color: #000000; font-size: 9pt; font-family: Arial, sans-serif; line-height: normal; margin-top: 0; margin-bottom: 0; text-align: right; margin-right: 0pt; "><FONT>3,823,957</FONT></P>
                            </TD>
                            <TD style="border-top: 0pt; padding-top: 0pt; border-right: 0pt; border-left: 0pt; padding-left: 0pt; vertical-align: top; padding-bottom: 0pt; border-bottom: 0pt; padding-right: 0pt; ">
                                <P style="margin-left: 0pt; font-size: 1pt; line-height: 1pt; margin-top: 0pt; margin-bottom: 0; margin-right: 0pt; ">&#8203;</P>
                            </TD>
                            <TD style="border-top: 0pt; padding-top: 1.5pt; border-right: 0pt; border-left: 0pt; padding-left: 0pt; vertical-align: top; padding-bottom: 1.5pt; border-bottom: 0pt; padding-right: 0pt; ">
                                <P style="margin-left: 0pt; color: #000000; font-size: 9pt; font-family: Arial, sans-serif; line-height: normal; margin-top: 0; margin-bottom: 0; text-align: right; margin-right: 0pt; "><FONT>&#8212;</FONT></P>
                            </TD>
                            <TD style="border-top: 0pt; padding-top: 0pt; border-right: 0pt; border-left: 0pt; padding-left: 0pt; vertical-align: top; padding-bottom: 0pt; border-bottom: 0pt; padding-right: 0pt; ">
                                <P style="margin-left: 0pt; font-size: 1pt; line-height: 1pt; margin-top: 0pt; margin-bottom: 0; margin-right: 0pt; ">&#8203;</P>
                            </TD>
                            <TD style="border-top: 0pt; padding-top: 1.5pt; border-right: 0pt; border-left: 0pt; padding-left: 0pt; vertical-align: top; padding-bottom: 1.5pt; border-bottom: 0pt; padding-right: 0pt; ">
                                <P style="margin-left: 0pt; color: #000000; font-size: 9pt; font-family: Arial, sans-serif; line-height: normal; margin-top: 0; margin-bottom: 0; text-align: right; margin-right: 0pt; "><FONT>&#8212;</FONT></P>
                            </TD>
                        </TR>
                        <TR style="min-height: 3pt; ">
                            <TD style="background-color: #cceeff; border-top: 0pt; padding-top: 1.5pt; border-right: 0pt; border-left: 0pt; padding-left: 0pt; vertical-align: top; padding-bottom: 1.5pt; border-bottom: 0pt; padding-right: 0pt; ">
                                <P style="margin-left: 33.75pt; color: #000000; text-indent: -22.5pt; font-size: 9pt; font-family: Arial, sans-serif; line-height: normal; margin-top: 0; margin-bottom: 0; text-align: left; margin-right: 0pt; "><FONT>Miscellaneous Industries </FONT></P>
                            </TD>
                            <TD style="background-color: #cceeff; border-top: 0pt; padding-top: 0pt; border-right: 0pt; border-left: 0pt; padding-left: 0pt; vertical-align: top; padding-bottom: 0pt; border-bottom: 0pt; padding-right: 0pt; ">
                                <P style="margin-left: 0pt; font-size: 1pt; line-height: 1pt; margin-top: 0pt; margin-bottom: 0; margin-right: 0pt; ">&#8203;</P>
                            </TD>
                            <TD style="background-color: #cceeff; border-top: 0pt; padding-top: 1.5pt; border-right: 0pt; border-left: 0pt; padding-left: 0pt; vertical-align: top; padding-bottom: 1.5pt; border-bottom: 0pt; padding-right: 0pt; ">
                                <P style="margin-left: 0pt; color: #000000; font-size: 9pt; font-family: Arial, sans-serif; line-height: normal; margin-top: 0; margin-bottom: 0; text-align: right; margin-right: 0pt; "><FONT>5,591,249</FONT></P>
                            </TD>
                            <TD style="background-color: #cceeff; border-top: 0pt; padding-top: 0pt; border-right: 0pt; border-left: 0pt; padding-left: 0pt; vertical-align: top; padding-bottom: 0pt; border-bottom: 0pt; padding-right: 0pt; ">
                                <P style="margin-left: 0pt; font-size: 1pt; line-height: 1pt; margin-top: 0pt; margin-bottom: 0; margin-right: 0pt; ">&#8203;</P>
                            </TD>
                            <TD style="background-color: #cceeff; border-top: 0pt; padding-top: 1.5pt; border-right: 0pt; border-left: 0pt; padding-left: 0pt; vertical-align: top; padding-bottom: 1.5pt; border-bottom: 0pt; padding-right: 0pt; ">
                                <P style="margin-left: 0pt; color: #000000; font-size: 9pt; font-family: Arial, sans-serif; line-height: normal; margin-top: 0; margin-bottom: 0; text-align: right; margin-right: 0pt; "><FONT>772,340</FONT></P>
                            </TD>
                            <TD style="background-color: #cceeff; border-top: 0pt; padding-top: 0pt; border-right: 0pt; border-left: 0pt; padding-left: 0pt; vertical-align: top; padding-bottom: 0pt; border-bottom: 0pt; padding-right: 0pt; ">
                                <P style="margin-left: 0pt; font-size: 1pt; line-height: 1pt; margin-top: 0pt; margin-bottom: 0; margin-right: 0pt; ">&#8203;</P>
                            </TD>
                            <TD style="background-color: #cceeff; border-top: 0pt; padding-top: 1.5pt; border-right: 0pt; border-left: 0pt; padding-left: 0pt; vertical-align: top; padding-bottom: 1.5pt; border-bottom: 0pt; padding-right: 0pt; ">
                                <P style="margin-left: 0pt; color: #000000; font-size: 9pt; font-family: Arial, sans-serif; line-height: normal; margin-top: 0; margin-bottom: 0; text-align: right; margin-right: 0pt; "><FONT>4,818,909</FONT></P>
                            </TD>
                            <TD style="background-color: #cceeff; border-top: 0pt; padding-top: 0pt; border-right: 0pt; border-left: 0pt; padding-left: 0pt; vertical-align: top; padding-bottom: 0pt; border-bottom: 0pt; padding-right: 0pt; ">
                                <P style="margin-left: 0pt; font-size: 1pt; line-height: 1pt; margin-top: 0pt; margin-bottom: 0; margin-right: 0pt; ">&#8203;</P>
                            </TD>
                            <TD style="background-color: #cceeff; border-top: 0pt; padding-top: 1.5pt; border-right: 0pt; border-left: 0pt; padding-left: 0pt; vertical-align: top; padding-bottom: 1.5pt; border-bottom: 0pt; padding-right: 0pt; ">
                                <P style="margin-left: 0pt; color: #000000; font-size: 9pt; font-family: Arial, sans-serif; line-height: normal; margin-top: 0; margin-bottom: 0; text-align: right; margin-right: 0pt; "><FONT>&#8212;</FONT></P>
                            </TD>
                        </TR>
                        <TR style="min-height: 3pt; ">
                            <TD style="border-top: 0pt; padding-top: 1.5pt; border-right: 0pt; border-left: 0pt; padding-left: 0pt; vertical-align: top; padding-bottom: 1.5pt; border-bottom: 0pt; padding-right: 0pt; ">
                                <P style="margin-left: 22.5pt; color: #000000; text-indent: -22.5pt; font-size: 9pt; font-family: Arial, sans-serif; line-height: normal; margin-top: 0; margin-bottom: 0; text-align: left; margin-right: 0pt; "><FONT style="font-weight: bold; "><B>Contingent Capital Securities</B></FONT></P>
                            </TD>
                            <TD style="border-top: 0pt; padding-top: 0pt; border-right: 0pt; border-left: 0pt; padding-left: 0pt; vertical-align: top; padding-bottom: 0pt; border-bottom: 0pt; padding-right: 0pt; ">
                                <P style="margin-left: 0pt; font-size: 1pt; line-height: 1pt; margin-top: 0pt; margin-bottom: 0; margin-right: 0pt; ">&#8203;</P>
                            </TD>
                            <TD style="border-top: 0pt; padding-top: 0pt; border-right: 0pt; border-left: 0pt; padding-left: 0pt; vertical-align: top; padding-bottom: 0pt; border-bottom: 0pt; padding-right: 0pt; ">
                                <P style="margin-left: 0pt; font-size: 1pt; line-height: 1pt; margin-top: 0pt; margin-bottom: 0; margin-right: 0pt; ">&#8203;</P>
                            </TD>
                            <TD style="border-top: 0pt; padding-top: 0pt; border-right: 0pt; border-left: 0pt; padding-left: 0pt; vertical-align: top; padding-bottom: 0pt; border-bottom: 0pt; padding-right: 0pt; ">
                                <P style="margin-left: 0pt; font-size: 1pt; line-height: 1pt; margin-top: 0pt; margin-bottom: 0; margin-right: 0pt; ">&#8203;</P>
                            </TD>
                            <TD style="border-top: 0pt; padding-top: 0pt; border-right: 0pt; border-left: 0pt; padding-left: 0pt; vertical-align: top; padding-bottom: 0pt; border-bottom: 0pt; padding-right: 0pt; ">
                                <P style="margin-left: 0pt; font-size: 1pt; line-height: 1pt; margin-top: 0pt; margin-bottom: 0; margin-right: 0pt; ">&#8203;</P>
                            </TD>
                            <TD style="border-top: 0pt; padding-top: 0pt; border-right: 0pt; border-left: 0pt; padding-left: 0pt; vertical-align: top; padding-bottom: 0pt; border-bottom: 0pt; padding-right: 0pt; ">
                                <P style="margin-left: 0pt; font-size: 1pt; line-height: 1pt; margin-top: 0pt; margin-bottom: 0; margin-right: 0pt; ">&#8203;</P>
                            </TD>
                            <TD style="border-top: 0pt; padding-top: 0pt; border-right: 0pt; border-left: 0pt; padding-left: 0pt; vertical-align: top; padding-bottom: 0pt; border-bottom: 0pt; padding-right: 0pt; ">
                                <P style="margin-left: 0pt; font-size: 1pt; line-height: 1pt; margin-top: 0pt; margin-bottom: 0; margin-right: 0pt; ">&#8203;</P>
                            </TD>
                            <TD style="border-top: 0pt; padding-top: 0pt; border-right: 0pt; border-left: 0pt; padding-left: 0pt; vertical-align: top; padding-bottom: 0pt; border-bottom: 0pt; padding-right: 0pt; ">
                                <P style="margin-left: 0pt; font-size: 1pt; line-height: 1pt; margin-top: 0pt; margin-bottom: 0; margin-right: 0pt; ">&#8203;</P>
                            </TD>
                            <TD style="border-top: 0pt; padding-top: 0pt; border-right: 0pt; border-left: 0pt; padding-left: 0pt; vertical-align: top; padding-bottom: 0pt; border-bottom: 0pt; padding-right: 0pt; ">
                                <P style="margin-left: 0pt; font-size: 1pt; line-height: 1pt; margin-top: 0pt; margin-bottom: 0; margin-right: 0pt; ">&#8203;</P>
                            </TD>
                        </TR>
                        <TR style="min-height: 3pt; ">
                            <TD style="background-color: #cceeff; border-top: 0pt; padding-top: 1.5pt; border-right: 0pt; border-left: 0pt; padding-left: 0pt; vertical-align: top; padding-bottom: 1.5pt; border-bottom: 0pt; padding-right: 0pt; ">
                                <P style="margin-left: 33.75pt; color: #000000; text-indent: -22.5pt; font-size: 9pt; font-family: Arial, sans-serif; line-height: normal; margin-top: 0; margin-bottom: 0; text-align: left; margin-right: 0pt; "><FONT>Banking </FONT></P>
                            </TD>
                            <TD style="background-color: #cceeff; border-top: 0pt; padding-top: 0pt; border-right: 0pt; border-left: 0pt; padding-left: 0pt; vertical-align: top; padding-bottom: 0pt; border-bottom: 0pt; padding-right: 0pt; ">
                                <P style="margin-left: 0pt; font-size: 1pt; line-height: 1pt; margin-top: 0pt; margin-bottom: 0; margin-right: 0pt; ">&#8203;</P>
                            </TD>
                            <TD style="background-color: #cceeff; border-top: 0pt; padding-top: 1.5pt; border-right: 0pt; border-left: 0pt; padding-left: 0pt; vertical-align: top; padding-bottom: 1.5pt; border-bottom: 0pt; padding-right: 0pt; ">
                                <P style="margin-left: 0pt; color: #000000; font-size: 9pt; font-family: Arial, sans-serif; line-height: normal; margin-top: 0; margin-bottom: 0; text-align: right; margin-right: 0pt; "><FONT>51,932,769</FONT></P>
                            </TD>
                            <TD style="background-color: #cceeff; border-top: 0pt; padding-top: 0pt; border-right: 0pt; border-left: 0pt; padding-left: 0pt; vertical-align: top; padding-bottom: 0pt; border-bottom: 0pt; padding-right: 0pt; ">
                                <P style="margin-left: 0pt; font-size: 1pt; line-height: 1pt; margin-top: 0pt; margin-bottom: 0; margin-right: 0pt; ">&#8203;</P>
                            </TD>
                            <TD style="background-color: #cceeff; border-top: 0pt; padding-top: 1.5pt; border-right: 0pt; border-left: 0pt; padding-left: 0pt; vertical-align: top; padding-bottom: 1.5pt; border-bottom: 0pt; padding-right: 0pt; ">
                                <P style="margin-left: 0pt; color: #000000; font-size: 9pt; font-family: Arial, sans-serif; line-height: normal; margin-top: 0; margin-bottom: 0; text-align: right; margin-right: 0pt; "><FONT>&#8212;</FONT></P>
                            </TD>
                            <TD style="background-color: #cceeff; border-top: 0pt; padding-top: 0pt; border-right: 0pt; border-left: 0pt; padding-left: 0pt; vertical-align: top; padding-bottom: 0pt; border-bottom: 0pt; padding-right: 0pt; ">
                                <P style="margin-left: 0pt; font-size: 1pt; line-height: 1pt; margin-top: 0pt; margin-bottom: 0; margin-right: 0pt; ">&#8203;</P>
                            </TD>
                            <TD style="background-color: #cceeff; border-top: 0pt; padding-top: 1.5pt; border-right: 0pt; border-left: 0pt; padding-left: 0pt; vertical-align: top; padding-bottom: 1.5pt; border-bottom: 0pt; padding-right: 0pt; ">
                                <P style="margin-left: 0pt; color: #000000; font-size: 9pt; font-family: Arial, sans-serif; line-height: normal; margin-top: 0; margin-bottom: 0; text-align: right; margin-right: 0pt; "><FONT>51,932,769</FONT></P>
                            </TD>
                            <TD style="background-color: #cceeff; border-top: 0pt; padding-top: 0pt; border-right: 0pt; border-left: 0pt; padding-left: 0pt; vertical-align: top; padding-bottom: 0pt; border-bottom: 0pt; padding-right: 0pt; ">
                                <P style="margin-left: 0pt; font-size: 1pt; line-height: 1pt; margin-top: 0pt; margin-bottom: 0; margin-right: 0pt; ">&#8203;</P>
                            </TD>
                            <TD style="background-color: #cceeff; border-top: 0pt; padding-top: 1.5pt; border-right: 0pt; border-left: 0pt; padding-left: 0pt; vertical-align: top; padding-bottom: 1.5pt; border-bottom: 0pt; padding-right: 0pt; ">
                                <P style="margin-left: 0pt; color: #000000; font-size: 9pt; font-family: Arial, sans-serif; line-height: normal; margin-top: 0; margin-bottom: 0; text-align: right; margin-right: 0pt; "><FONT>&#8212;</FONT></P>
                            </TD>
                        </TR>
                        <TR style="min-height: 3pt; ">
                            <TD style="border-top: 0pt; padding-top: 1.5pt; border-right: 0pt; border-left: 0pt; padding-left: 0pt; vertical-align: top; padding-bottom: 1.5pt; border-bottom: 0pt; padding-right: 0pt; ">
                                <P style="margin-left: 22.5pt; color: #000000; text-indent: -22.5pt; font-size: 9pt; font-family: Arial, sans-serif; line-height: normal; margin-top: 0; margin-bottom: 0; text-align: left; margin-right: 0pt; "><FONT style="font-weight: bold; "><B>Corporate Debt Securities</B></FONT></P>
                            </TD>
                            <TD style="border-top: 0pt; padding-top: 0pt; border-right: 0pt; border-left: 0pt; padding-left: 0pt; vertical-align: top; padding-bottom: 0pt; border-bottom: 0pt; padding-right: 0pt; ">
                                <P style="margin-left: 0pt; font-size: 1pt; line-height: 1pt; margin-top: 0pt; margin-bottom: 0; margin-right: 0pt; ">&#8203;</P>
                            </TD>
                            <TD style="border-top: 0pt; padding-top: 0pt; border-right: 0pt; border-left: 0pt; padding-left: 0pt; vertical-align: top; padding-bottom: 0pt; border-bottom: 0pt; padding-right: 0pt; ">
                                <P style="margin-left: 0pt; font-size: 1pt; line-height: 1pt; margin-top: 0pt; margin-bottom: 0; margin-right: 0pt; ">&#8203;</P>
                            </TD>
                            <TD style="border-top: 0pt; padding-top: 0pt; border-right: 0pt; border-left: 0pt; padding-left: 0pt; vertical-align: top; padding-bottom: 0pt; border-bottom: 0pt; padding-right: 0pt; ">
                                <P style="margin-left: 0pt; font-size: 1pt; line-height: 1pt; margin-top: 0pt; margin-bottom: 0; margin-right: 0pt; ">&#8203;</P>
                            </TD>
                            <TD style="border-top: 0pt; padding-top: 0pt; border-right: 0pt; border-left: 0pt; padding-left: 0pt; vertical-align: top; padding-bottom: 0pt; border-bottom: 0pt; padding-right: 0pt; ">
                                <P style="margin-left: 0pt; font-size: 1pt; line-height: 1pt; margin-top: 0pt; margin-bottom: 0; margin-right: 0pt; ">&#8203;</P>
                            </TD>
                            <TD style="border-top: 0pt; padding-top: 0pt; border-right: 0pt; border-left: 0pt; padding-left: 0pt; vertical-align: top; padding-bottom: 0pt; border-bottom: 0pt; padding-right: 0pt; ">
                                <P style="margin-left: 0pt; font-size: 1pt; line-height: 1pt; margin-top: 0pt; margin-bottom: 0; margin-right: 0pt; ">&#8203;</P>
                            </TD>
                            <TD style="border-top: 0pt; padding-top: 0pt; border-right: 0pt; border-left: 0pt; padding-left: 0pt; vertical-align: top; padding-bottom: 0pt; border-bottom: 0pt; padding-right: 0pt; ">
                                <P style="margin-left: 0pt; font-size: 1pt; line-height: 1pt; margin-top: 0pt; margin-bottom: 0; margin-right: 0pt; ">&#8203;</P>
                            </TD>
                            <TD style="border-top: 0pt; padding-top: 0pt; border-right: 0pt; border-left: 0pt; padding-left: 0pt; vertical-align: top; padding-bottom: 0pt; border-bottom: 0pt; padding-right: 0pt; ">
                                <P style="margin-left: 0pt; font-size: 1pt; line-height: 1pt; margin-top: 0pt; margin-bottom: 0; margin-right: 0pt; ">&#8203;</P>
                            </TD>
                            <TD style="border-top: 0pt; padding-top: 0pt; border-right: 0pt; border-left: 0pt; padding-left: 0pt; vertical-align: top; padding-bottom: 0pt; border-bottom: 0pt; padding-right: 0pt; ">
                                <P style="margin-left: 0pt; font-size: 1pt; line-height: 1pt; margin-top: 0pt; margin-bottom: 0; margin-right: 0pt; ">&#8203;</P>
                            </TD>
                        </TR>
                        <TR style="min-height: 3pt; ">
                            <TD style="background-color: #cceeff; border-top: 0pt; padding-top: 1.5pt; border-right: 0pt; border-left: 0pt; padding-left: 0pt; vertical-align: top; padding-bottom: 1.5pt; border-bottom: 0pt; padding-right: 0pt; ">
                                <P style="margin-left: 33.75pt; color: #000000; text-indent: -22.5pt; font-size: 9pt; font-family: Arial, sans-serif; line-height: normal; margin-top: 0; margin-bottom: 0; text-align: left; margin-right: 0pt; "><FONT>Banking </FONT></P>
                            </TD>
                            <TD style="background-color: #cceeff; border-top: 0pt; padding-top: 0pt; border-right: 0pt; border-left: 0pt; padding-left: 0pt; vertical-align: top; padding-bottom: 0pt; border-bottom: 0pt; padding-right: 0pt; ">
                                <P style="margin-left: 0pt; font-size: 1pt; line-height: 1pt; margin-top: 0pt; margin-bottom: 0; margin-right: 0pt; ">&#8203;</P>
                            </TD>
                            <TD style="background-color: #cceeff; border-top: 0pt; padding-top: 1.5pt; border-right: 0pt; border-left: 0pt; padding-left: 0pt; vertical-align: top; padding-bottom: 1.5pt; border-bottom: 0pt; padding-right: 0pt; ">
                                <P style="margin-left: 0pt; color: #000000; font-size: 9pt; font-family: Arial, sans-serif; line-height: normal; margin-top: 0; margin-bottom: 0; text-align: right; margin-right: 0pt; "><FONT>415,382</FONT></P>
                            </TD>
                            <TD style="background-color: #cceeff; border-top: 0pt; padding-top: 0pt; border-right: 0pt; border-left: 0pt; padding-left: 0pt; vertical-align: top; padding-bottom: 0pt; border-bottom: 0pt; padding-right: 0pt; ">
                                <P style="margin-left: 0pt; font-size: 1pt; line-height: 1pt; margin-top: 0pt; margin-bottom: 0; margin-right: 0pt; ">&#8203;</P>
                            </TD>
                            <TD style="background-color: #cceeff; border-top: 0pt; padding-top: 1.5pt; border-right: 0pt; border-left: 0pt; padding-left: 0pt; vertical-align: top; padding-bottom: 1.5pt; border-bottom: 0pt; padding-right: 0pt; ">
                                <P style="margin-left: 0pt; color: #000000; font-size: 9pt; font-family: Arial, sans-serif; line-height: normal; margin-top: 0; margin-bottom: 0; text-align: right; margin-right: 0pt; "><FONT>415,382</FONT></P>
                            </TD>
                            <TD style="background-color: #cceeff; border-top: 0pt; padding-top: 0pt; border-right: 0pt; border-left: 0pt; padding-left: 0pt; vertical-align: top; padding-bottom: 0pt; border-bottom: 0pt; padding-right: 0pt; ">
                                <P style="margin-left: 0pt; font-size: 1pt; line-height: 1pt; margin-top: 0pt; margin-bottom: 0; margin-right: 0pt; ">&#8203;</P>
                            </TD>
                            <TD style="background-color: #cceeff; border-top: 0pt; padding-top: 1.5pt; border-right: 0pt; border-left: 0pt; padding-left: 0pt; vertical-align: top; padding-bottom: 1.5pt; border-bottom: 0pt; padding-right: 0pt; ">
                                <P style="margin-left: 0pt; color: #000000; font-size: 9pt; font-family: Arial, sans-serif; line-height: normal; margin-top: 0; margin-bottom: 0; text-align: right; margin-right: 0pt; "><FONT>&#8212;</FONT></P>
                            </TD>
                            <TD style="background-color: #cceeff; border-top: 0pt; padding-top: 0pt; border-right: 0pt; border-left: 0pt; padding-left: 0pt; vertical-align: top; padding-bottom: 0pt; border-bottom: 0pt; padding-right: 0pt; ">
                                <P style="margin-left: 0pt; font-size: 1pt; line-height: 1pt; margin-top: 0pt; margin-bottom: 0; margin-right: 0pt; ">&#8203;</P>
                            </TD>
                            <TD style="background-color: #cceeff; border-top: 0pt; padding-top: 1.5pt; border-right: 0pt; border-left: 0pt; padding-left: 0pt; vertical-align: top; padding-bottom: 1.5pt; border-bottom: 0pt; padding-right: 0pt; ">
                                <P style="margin-left: 0pt; color: #000000; font-size: 9pt; font-family: Arial, sans-serif; line-height: normal; margin-top: 0; margin-bottom: 0; text-align: right; margin-right: 0pt; "><FONT>&#8212;</FONT></P>
                            </TD>
                        </TR>
                        <TR style="min-height: 3pt; ">
                            <TD style="border-top: 0pt; padding-top: 1.5pt; border-right: 0pt; border-left: 0pt; padding-left: 0pt; vertical-align: top; padding-bottom: 1.5pt; border-bottom: 0pt; padding-right: 0pt; ">
                                <P style="margin-left: 33.75pt; color: #000000; text-indent: -22.5pt; font-size: 9pt; font-family: Arial, sans-serif; line-height: normal; margin-top: 0; margin-bottom: 0; text-align: left; margin-right: 0pt; "><FONT>Insurance </FONT></P>
                            </TD>
                            <TD style="border-top: 0pt; padding-top: 0pt; border-right: 0pt; border-left: 0pt; padding-left: 0pt; vertical-align: top; padding-bottom: 0pt; border-bottom: 0pt; padding-right: 0pt; ">
                                <P style="margin-left: 0pt; font-size: 1pt; line-height: 1pt; margin-top: 0pt; margin-bottom: 0; margin-right: 0pt; ">&#8203;</P>
                            </TD>
                            <TD style="border-top: 0pt; padding-top: 1.5pt; border-right: 0pt; border-left: 0pt; padding-left: 0pt; vertical-align: top; padding-bottom: 1.5pt; border-bottom: 0pt; padding-right: 0pt; ">
                                <P style="margin-left: 0pt; color: #000000; font-size: 9pt; font-family: Arial, sans-serif; line-height: normal; margin-top: 0; margin-bottom: 0; text-align: right; margin-right: 0pt; "><FONT>2,621,607</FONT></P>
                            </TD>
                            <TD style="border-top: 0pt; padding-top: 0pt; border-right: 0pt; border-left: 0pt; padding-left: 0pt; vertical-align: top; padding-bottom: 0pt; border-bottom: 0pt; padding-right: 0pt; ">
                                <P style="margin-left: 0pt; font-size: 1pt; line-height: 1pt; margin-top: 0pt; margin-bottom: 0; margin-right: 0pt; ">&#8203;</P>
                            </TD>
                            <TD style="border-top: 0pt; padding-top: 1.5pt; border-right: 0pt; border-left: 0pt; padding-left: 0pt; vertical-align: top; padding-bottom: 1.5pt; border-bottom: 0pt; padding-right: 0pt; ">
                                <P style="margin-left: 0pt; color: #000000; font-size: 9pt; font-family: Arial, sans-serif; line-height: normal; margin-top: 0; margin-bottom: 0; text-align: right; margin-right: 0pt; "><FONT>&#8212;</FONT></P>
                            </TD>
                            <TD style="border-top: 0pt; padding-top: 0pt; border-right: 0pt; border-left: 0pt; padding-left: 0pt; vertical-align: top; padding-bottom: 0pt; border-bottom: 0pt; padding-right: 0pt; ">
                                <P style="margin-left: 0pt; font-size: 1pt; line-height: 1pt; margin-top: 0pt; margin-bottom: 0; margin-right: 0pt; ">&#8203;</P>
                            </TD>
                            <TD style="border-top: 0pt; padding-top: 1.5pt; border-right: 0pt; border-left: 0pt; padding-left: 0pt; vertical-align: top; padding-bottom: 1.5pt; border-bottom: 0pt; padding-right: 0pt; ">
                                <P style="margin-left: 0pt; color: #000000; font-size: 9pt; font-family: Arial, sans-serif; line-height: normal; margin-top: 0; margin-bottom: 0; text-align: right; margin-right: 0pt; "><FONT>2,621,607</FONT></P>
                            </TD>
                            <TD style="border-top: 0pt; padding-top: 0pt; border-right: 0pt; border-left: 0pt; padding-left: 0pt; vertical-align: top; padding-bottom: 0pt; border-bottom: 0pt; padding-right: 0pt; ">
                                <P style="margin-left: 0pt; font-size: 1pt; line-height: 1pt; margin-top: 0pt; margin-bottom: 0; margin-right: 0pt; ">&#8203;</P>
                            </TD>
                            <TD style="border-top: 0pt; padding-top: 1.5pt; border-right: 0pt; border-left: 0pt; padding-left: 0pt; vertical-align: top; padding-bottom: 1.5pt; border-bottom: 0pt; padding-right: 0pt; ">
                                <P style="margin-left: 0pt; color: #000000; font-size: 9pt; font-family: Arial, sans-serif; line-height: normal; margin-top: 0; margin-bottom: 0; text-align: right; margin-right: 0pt; "><FONT>&#8212;</FONT></P>
                            </TD>
                        </TR>
                        <TR style="min-height: 3pt; ">
                            <TD style="background-color: #cceeff; border-top: 0pt; padding-top: 1.5pt; border-right: 0pt; border-left: 0pt; padding-left: 0pt; vertical-align: top; padding-bottom: 1.5pt; border-bottom: 0pt; padding-right: 0pt; ">
                                <P style="margin-left: 33.75pt; color: #000000; text-indent: -22.5pt; font-size: 9pt; font-family: Arial, sans-serif; line-height: normal; margin-top: 0; margin-bottom: 0; text-align: left; margin-right: 0pt; "><FONT>Communication </FONT></P>
                            </TD>
                            <TD style="background-color: #cceeff; border-top: 0pt; padding-top: 0pt; border-right: 0pt; border-left: 0pt; padding-left: 0pt; vertical-align: top; padding-bottom: 0pt; border-bottom: 0pt; padding-right: 0pt; ">
                                <P style="margin-left: 0pt; font-size: 1pt; line-height: 1pt; margin-top: 0pt; margin-bottom: 0; margin-right: 0pt; ">&#8203;</P>
                            </TD>
                            <TD style="background-color: #cceeff; border-top: 0pt; padding-top: 1.5pt; border-right: 0pt; border-left: 0pt; padding-left: 0pt; vertical-align: top; padding-bottom: 1.5pt; border-bottom: 0pt; padding-right: 0pt; ">
                                <P style="margin-left: 0pt; color: #000000; font-size: 9pt; font-family: Arial, sans-serif; line-height: normal; margin-top: 0; margin-bottom: 0; text-align: right; margin-right: 0pt; "><FONT>1,004,950</FONT></P>
                            </TD>
                            <TD style="background-color: #cceeff; border-top: 0pt; padding-top: 0pt; border-right: 0pt; border-left: 0pt; padding-left: 0pt; vertical-align: top; padding-bottom: 0pt; border-bottom: 0pt; padding-right: 0pt; ">
                                <P style="margin-left: 0pt; font-size: 1pt; line-height: 1pt; margin-top: 0pt; margin-bottom: 0; margin-right: 0pt; ">&#8203;</P>
                            </TD>
                            <TD style="background-color: #cceeff; border-top: 0pt; padding-top: 1.5pt; border-right: 0pt; border-left: 0pt; padding-left: 0pt; vertical-align: top; padding-bottom: 1.5pt; border-bottom: 0pt; padding-right: 0pt; ">
                                <P style="margin-left: 0pt; color: #000000; font-size: 9pt; font-family: Arial, sans-serif; line-height: normal; margin-top: 0; margin-bottom: 0; text-align: right; margin-right: 0pt; "><FONT>1,004,950</FONT></P>
                            </TD>
                            <TD style="background-color: #cceeff; border-top: 0pt; padding-top: 0pt; border-right: 0pt; border-left: 0pt; padding-left: 0pt; vertical-align: top; padding-bottom: 0pt; border-bottom: 0pt; padding-right: 0pt; ">
                                <P style="margin-left: 0pt; font-size: 1pt; line-height: 1pt; margin-top: 0pt; margin-bottom: 0; margin-right: 0pt; ">&#8203;</P>
                            </TD>
                            <TD style="background-color: #cceeff; border-top: 0pt; padding-top: 1.5pt; border-right: 0pt; border-left: 0pt; padding-left: 0pt; vertical-align: top; padding-bottom: 1.5pt; border-bottom: 0pt; padding-right: 0pt; ">
                                <P style="margin-left: 0pt; color: #000000; font-size: 9pt; font-family: Arial, sans-serif; line-height: normal; margin-top: 0; margin-bottom: 0; text-align: right; margin-right: 0pt; "><FONT>&#8212;</FONT></P>
                            </TD>
                            <TD style="background-color: #cceeff; border-top: 0pt; padding-top: 0pt; border-right: 0pt; border-left: 0pt; padding-left: 0pt; vertical-align: top; padding-bottom: 0pt; border-bottom: 0pt; padding-right: 0pt; ">
                                <P style="margin-left: 0pt; font-size: 1pt; line-height: 1pt; margin-top: 0pt; margin-bottom: 0; margin-right: 0pt; ">&#8203;</P>
                            </TD>
                            <TD style="background-color: #cceeff; border-top: 0pt; padding-top: 1.5pt; border-right: 0pt; border-left: 0pt; padding-left: 0pt; vertical-align: top; padding-bottom: 1.5pt; border-bottom: 0pt; padding-right: 0pt; ">
                                <P style="margin-left: 0pt; color: #000000; font-size: 9pt; font-family: Arial, sans-serif; line-height: normal; margin-top: 0; margin-bottom: 0; text-align: right; margin-right: 0pt; "><FONT>&#8212;</FONT></P>
                            </TD>
                        </TR>
                        <TR style="min-height: 3pt; ">
                            <TD style="border-top: 0pt; padding-top: 1.5pt; border-right: 0pt; border-left: 0pt; padding-left: 0pt; vertical-align: top; padding-bottom: 1.5pt; border-bottom: 0pt; padding-right: 0pt; ">
                                <P style="margin-left: 22.5pt; color: #000000; text-indent: -22.5pt; font-size: 9pt; font-family: Arial, sans-serif; line-height: normal; margin-top: 0; margin-bottom: 0; text-align: left; margin-right: 0pt; "><FONT style="font-weight: bold; "><B>Money Market Fund </B></FONT></P>
                            </TD>
                            <TD style="border-top: 0pt; padding-top: 0pt; border-right: 0pt; border-left: 0pt; padding-left: 0pt; vertical-align: top; padding-bottom: 0pt; border-bottom: 0pt; padding-right: 0pt; ">
                                <P style="margin-left: 0pt; font-size: 1pt; line-height: 1pt; margin-top: 0pt; margin-bottom: 0; margin-right: 0pt; ">&#8203;</P>
                            </TD>
                            <TD style="border-top: 0pt; padding-top: 1.5pt; border-right: 0pt; border-left: 0pt; padding-left: 0pt; vertical-align: top; padding-bottom: 1.5pt; border-bottom: 0.5pt solid #000000; padding-right: 0pt; ">
                                <P style="margin-left: 0pt; color: #000000; font-size: 9pt; font-family: Arial, sans-serif; line-height: normal; margin-top: 0; margin-bottom: 0; text-align: right; margin-right: 0pt; "><FONT>2,751,695</FONT></P>
                            </TD>
                            <TD style="border-top: 0pt; padding-top: 0pt; border-right: 0pt; border-left: 0pt; padding-left: 0pt; vertical-align: top; padding-bottom: 0pt; border-bottom: 0pt; padding-right: 0pt; ">
                                <P style="margin-left: 0pt; font-size: 1pt; line-height: 1pt; margin-top: 0pt; margin-bottom: 0; margin-right: 0pt; ">&#8203;</P>
                            </TD>
                            <TD style="border-top: 0pt; padding-top: 1.5pt; border-right: 0pt; border-left: 0pt; padding-left: 0pt; vertical-align: top; padding-bottom: 1.5pt; border-bottom: 0.5pt solid #000000; padding-right: 0pt; ">
                                <P style="margin-left: 0pt; color: #000000; font-size: 9pt; font-family: Arial, sans-serif; line-height: normal; margin-top: 0; margin-bottom: 0; text-align: right; margin-right: 0pt; "><FONT>2,751,695</FONT></P>
                            </TD>
                            <TD style="border-top: 0pt; padding-top: 0pt; border-right: 0pt; border-left: 0pt; padding-left: 0pt; vertical-align: top; padding-bottom: 0pt; border-bottom: 0pt; padding-right: 0pt; ">
                                <P style="margin-left: 0pt; font-size: 1pt; line-height: 1pt; margin-top: 0pt; margin-bottom: 0; margin-right: 0pt; ">&#8203;</P>
                            </TD>
                            <TD style="border-top: 0pt; padding-top: 1.5pt; border-right: 0pt; border-left: 0pt; padding-left: 0pt; vertical-align: top; padding-bottom: 1.5pt; border-bottom: 0.5pt solid #000000; padding-right: 0pt; ">
                                <P style="margin-left: 0pt; color: #000000; font-size: 9pt; font-family: Arial, sans-serif; line-height: normal; margin-top: 0; margin-bottom: 0; text-align: right; margin-right: 0pt; "><FONT>&#8212;</FONT></P>
                            </TD>
                            <TD style="border-top: 0pt; padding-top: 0pt; border-right: 0pt; border-left: 0pt; padding-left: 0pt; vertical-align: top; padding-bottom: 0pt; border-bottom: 0pt; padding-right: 0pt; ">
                                <P style="margin-left: 0pt; font-size: 1pt; line-height: 1pt; margin-top: 0pt; margin-bottom: 0; margin-right: 0pt; ">&#8203;</P>
                            </TD>
                            <TD style="border-top: 0pt; padding-top: 1.5pt; border-right: 0pt; border-left: 0pt; padding-left: 0pt; vertical-align: top; padding-bottom: 1.5pt; border-bottom: 0.5pt solid #000000; padding-right: 0pt; ">
                                <P style="margin-left: 0pt; color: #000000; font-size: 9pt; font-family: Arial, sans-serif; line-height: normal; margin-top: 0; margin-bottom: 0; text-align: right; margin-right: 0pt; "><FONT>&#8212;</FONT></P>
                            </TD>
                        </TR>
                        <TR style="min-height: 3pt; ">
                            <TD style="background-color: #cceeff; border-top: 0pt; padding-top: 1.5pt; border-right: 0pt; border-left: 0pt; padding-left: 0pt; vertical-align: top; padding-bottom: 1.5pt; border-bottom: 0pt; padding-right: 0pt; ">
                                <P style="margin-left: 22.5pt; color: #000000; text-indent: -22.5pt; font-size: 9pt; font-family: Arial, sans-serif; line-height: normal; margin-top: 0; margin-bottom: 0; text-align: left; margin-right: 0pt; "><FONT style="font-weight: bold; "><B>Total Investments </B></FONT></P>
                            </TD>
                            <TD style="background-color: #cceeff; border-top: 0pt; padding-top: 0pt; border-right: 0pt; border-left: 0pt; padding-left: 0pt; vertical-align: top; padding-bottom: 0pt; border-bottom: 0pt; padding-right: 0pt; ">
                                <P style="margin-left: 0pt; font-size: 1pt; line-height: 1pt; margin-top: 0pt; margin-bottom: 0; margin-right: 0pt; ">&#8203;</P>
                            </TD>
                            <TD style="background-color: #cceeff; border-top: 0.5pt solid #000000; padding-top: 1.5pt; border-right: 0pt; border-left: 0pt; padding-left: 0pt; vertical-align: top; padding-bottom: 1.5pt; border-bottom: 2.5pt double #000000; padding-right: 0pt; ">
                                <P style="margin-left: 0pt; color: #000000; font-size: 9pt; font-family: Arial, sans-serif; line-height: normal; margin-top: 0; margin-bottom: 0; text-align: right; margin-right: 0pt; "><FONT style="float: left; "><FONT>$</FONT></FONT><FONT style="float: right; "><FONT>249,824,879</FONT></FONT><FONT style="font-size: 9pt; ">&#8203;</FONT>                                    <BR clear="all"></P>
                            </TD>
                            <TD style="background-color: #cceeff; border-top: 0pt; padding-top: 0pt; border-right: 0pt; border-left: 0pt; padding-left: 0pt; vertical-align: top; padding-bottom: 0pt; border-bottom: 0pt; padding-right: 0pt; ">
                                <P style="margin-left: 0pt; font-size: 1pt; line-height: 1pt; margin-top: 0pt; margin-bottom: 0; margin-right: 0pt; ">&#8203;</P>
                            </TD>
                            <TD style="background-color: #cceeff; border-top: 0.5pt solid #000000; padding-top: 1.5pt; border-right: 0pt; border-left: 0pt; padding-left: 0pt; vertical-align: top; padding-bottom: 1.5pt; border-bottom: 2.5pt double #000000; padding-right: 0pt; ">
                                <P style="margin-left: 0pt; color: #000000; font-size: 9pt; font-family: Arial, sans-serif; line-height: normal; margin-top: 0; margin-bottom: 0; text-align: right; margin-right: 0pt; "><FONT style="float: left; "><FONT>$</FONT></FONT><FONT style="float: right; "><FONT>68,154,985</FONT></FONT><FONT style="font-size: 9pt; ">&#8203;</FONT>                                    <BR clear="all"></P>
                            </TD>
                            <TD style="background-color: #cceeff; border-top: 0pt; padding-top: 0pt; border-right: 0pt; border-left: 0pt; padding-left: 0pt; vertical-align: top; padding-bottom: 0pt; border-bottom: 0pt; padding-right: 0pt; ">
                                <P style="margin-left: 0pt; font-size: 1pt; line-height: 1pt; margin-top: 0pt; margin-bottom: 0; margin-right: 0pt; ">&#8203;</P>
                            </TD>
                            <TD style="background-color: #cceeff; border-top: 0.5pt solid #000000; padding-top: 1.5pt; border-right: 0pt; border-left: 0pt; padding-left: 0pt; vertical-align: top; padding-bottom: 1.5pt; border-bottom: 2.5pt double #000000; padding-right: 0pt; ">
                                <P style="margin-left: 0pt; color: #000000; font-size: 9pt; font-family: Arial, sans-serif; line-height: normal; margin-top: 0; margin-bottom: 0; text-align: right; margin-right: 0pt; "><FONT style="float: left; "><FONT>$</FONT></FONT><FONT style="float: right; "><FONT>181,669,894</FONT></FONT><FONT style="font-size: 9pt; ">&#8203;</FONT>                                    <BR clear="all"></P>
                            </TD>
                            <TD style="background-color: #cceeff; border-top: 0pt; padding-top: 0pt; border-right: 0pt; border-left: 0pt; padding-left: 0pt; vertical-align: top; padding-bottom: 0pt; border-bottom: 0pt; padding-right: 0pt; ">
                                <P style="margin-left: 0pt; font-size: 1pt; line-height: 1pt; margin-top: 0pt; margin-bottom: 0; margin-right: 0pt; ">&#8203;</P>
                            </TD>
                            <TD style="background-color: #cceeff; border-top: 0.5pt solid #000000; padding-top: 1.5pt; border-right: 0pt; border-left: 0pt; padding-left: 0pt; vertical-align: top; padding-bottom: 1.5pt; border-bottom: 2.5pt double #000000; padding-right: 0pt; ">
                                <P style="margin-left: 0pt; color: #000000; font-size: 9pt; font-family: Arial, sans-serif; line-height: normal; margin-top: 0; margin-bottom: 0; text-align: right; margin-right: 0pt; "><FONT style="float: left; "><FONT>$</FONT></FONT><FONT style="float: right; "><FONT>&#8212;</FONT></FONT><FONT style="font-size: 9pt; ">&#8203;</FONT>                                    <BR clear="all"></P>
                            </TD>
                        </TR>
                    </TABLE>
                </DIV>
                <P style="margin-left: 0pt; color: #000000; text-indent: 0pt; font-size: 9pt; font-family: Arial, sans-serif; line-height: 11pt; margin-top: 0pt; margin-bottom: 6pt; text-align: justify; margin-right: 0pt; "><FONT>During the reporting period, there were no transfers into or out of Level 3.</FONT></P>
            </DIV>
        </DIV>
        <DIV style="page-break-before: always; ">
            <P style="font-size: 5pt; margin: 0pt; ">&#8203;</P>
        </DIV>
        <DIV style="margin: auto; overflow: hidden; width: 675.0pt; position: relative; border-bottom: 2pt solid black; height: 765.0pt; ">
            <DIV style="border: 0pt; padding-top: 0pt; top: 33.75pt; left: 33.75pt; padding-left: 0pt; width: 607.5pt; padding-bottom: 0pt; position: absolute; padding-right: 0pt; height: 63.94pt; ">
                <P style="border-top: 1pt solid ; color: #000000; font-size: 12pt; margin-right: 0pt; margin-left: 0pt; text-indent: 0pt; font-family: Times New Roman, Times, serif; margin-top: 0pt; margin-bottom: 0pt; "><FONT style="font-size: 8pt; font-family: Arial, sans-serif; ">&#160;</FONT></P>
                <P style="margin-left: 0pt; color: #000000; text-indent: 0pt; font-size: 12pt; font-family: Times New Roman, Times, serif; margin-top: 0pt; margin-bottom: 0pt; margin-right: 0pt; "><FONT style="font-size: 8pt; font-family: Arial, sans-serif; ">Flaherty &amp; Crumrine Preferred and Income Fund Incorporated</FONT></P>
                <P style="margin-left: 0pt; color: #000000; text-indent: 0pt; font-size: 12pt; font-family: Times New Roman, Times, serif; margin-top: 0pt; margin-bottom: 0pt; margin-right: 0pt; "><FONT style="font-family: Arial, sans-serif; ">NOTES TO PORTFOLIO OF INVESTMENTS (Unaudited) (Continued)</FONT></P>
                <P style="color: #000000; font-size: 12pt; border-bottom: 1pt solid ; margin-right: 0pt; margin-left: 0pt; text-indent: 0pt; font-family: Times New Roman, Times, serif; margin-top: 0pt; margin-bottom: 0pt; "><FONT style="font-size: 8pt; font-family: Arial, sans-serif; ">&#160;</FONT></P>
            </DIV>
            <DIV style="border: 0pt; padding-top: 0pt; top: 697.5pt; left: 33.75pt; padding-left: 0pt; width: 607.5pt; padding-bottom: 0pt; position: absolute; padding-right: 0pt; height: 33.75pt; ">
                <DIV style="vertical-align: bottom; width: 607.5pt; display: table-cell; height: 33.75pt; ">
                    <!-- [if IE]><TABLE><TR style=" width: 607.5pt; height: 33.75pt;"><TD vAlign="bottom" style=" width: 607.5pt; height: 33.75pt;"><![endif]-->
                    <P style="margin-left: 0pt; color: #000000; text-indent: 0pt; font-size: 12pt; font-family: Times New Roman, Times, serif; margin-top: 0pt; margin-bottom: 0pt; text-align: center; margin-right: 0pt; "><FONT style="font-size: 10pt; font-family: Arial, sans-serif; ">16</FONT></P>
                    <!-- [if IE]></TD></TR></TABLE><![endif]-->
                </DIV>
            </DIV>
            <DIV style="border: 0pt; padding-top: 0pt; top: 105pt; left: 33.75pt; padding-left: 0pt; width: 607.5pt; padding-bottom: 0pt; position: absolute; padding-right: 0pt; height: 592.5pt; ">
                <P style="margin-left: 0pt; color: #000000; text-indent: 0pt; font-size: 9pt; font-family: Arial, sans-serif; line-height: 11pt; margin-top: 0pt; margin-bottom: 6pt; text-align: justify; margin-right: 0pt; "><FONT>The fair values of the Fund&#8217;s investments are generally based on market information and quotes received from brokers or independent pricing services that are unaffiliated with the Adviser. To assess the continuing appropriateness of security valuations, the Adviser regularly compares current prices to prior prices, prices across comparable securities, actual sale prices for securities in the Fund&#8217;s portfolio, and market information obtained by the Adviser as a function of being an active market participant.</FONT></P>
                <P style="margin-left: 0pt; color: #000000; text-indent: 0pt; font-size: 9pt; font-family: Arial, sans-serif; line-height: 11pt; margin-top: 0pt; margin-bottom: 6pt; text-align: justify; margin-right: 0pt; "><FONT>Securities with quotes that are based on actual trades or actionable bids and offers with a sufficient level of activity on or near the measurement date are classified as Level 1. Securities that are priced using quotes derived from implied values, indicative bids and offers, or a limited number of actual trades&#8212;or the same information for securities that are similar in many respects to those being valued&#8212;are classified as Level 2. If market information is not available for securities being valued, or materially-comparable securities, then those securities are classified as Level 3. In considering market information, the Valuation Designee evaluates changes in liquidity, willingness of a broker to execute at the quoted price, the depth and consistency of prices from pricing services, and the existence of observable trades in the market.</FONT></P>
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