This is an updated list of issues I own as of this moment (6/22/2023) and subject to change at any time.
I started adding dates that I purchased the issue and prices paid.
Business Development Company
Saratoga Investment 8.50% Baby Bonds (SAZ) Bot 6/20/2023 $25.15
Capital Southwest Corporation 7.75% Baby Bonds (CSWCZ) Bot 6/15/2023 $24.94
Utilities
Entergy Texas Preferred (ETI-) 5.375% Cumulative Preferred
NiSource 6.50% Fixed Rate Reset Preferred (NI-B)
Spire Inc. 5.90% Cumulative Preferred (SR-A)
CMS Energy 5.875% Baby Bond (CMSD)
CMS Energy 4.20% Cumulative Preferred (CMS-C)
Closed End Fund Preferred
RiverNorth Capital and Income 5.875% Cumulative Preferred (RMPL-)
RiverNorth Opportunity Fund 6.00% Cumulative Preferred (RIV-A)
Tri-Continental 5.00% Cumulative Preferred (TY-P)
XAI Octagon Floating Rate Term Trust 6.5% Term Preferred
RiverNorth DoubleLine 4.75% Cumulative Preferred
GAMCO Natural Resources 5.20% Cumulative Preferred (GNT-A)
Insurance
SiriusPoint LTD 8% Resettable Preferred (SPNT-B)
American International Group 5.85% Preferred
Jackson Financial 8.00% Fixed Rate Reset Preferred (JXN-A)
Lincoln Financial 9% Preferred (LNC-D)
Enstar Group 7% Preferred (ESGRO)
Athene Holdings 4.875% Preferred (ATH-D)
WR Berkley 5.70% Baby Bonds (WRB-E)
Banking
Customers Bancorp 6% Fixed to Floating (CUBI-F)
Customers Bancorp 5.375% Baby Bond (CUBB)
Heartland Financial 7% Fixed Rate Reset Preferred (HTLFP)
Bridgewater Bank 5.875% Preferred (BWBBP)
Merchants Bancorp 6% Fixed-to-Floating Preferred (MBINO)
Associated Bancorp 5.875% Perpetual Fixed Rate Preferred
Enterprise Financial 5.00% Perpetual Fixed Rate
Miscellaneous
Affiliated Managers 5.875% Baby Bonds (MGR)
CHS 6.75% Fixed to Floating Cumulative Preferred (CHSCM)
Liberty Broadband 7% Cumulative Preferred
Apollo Asset Management 6.375% Preferred (AAM-A)
UMH Properties 6.375% Cumulative Preferred (UMH-D)
Hennessy Advisors 4.875% Baby Bonds (HNNAZ)
Federal Agricultural Mortgage 5.70% Preferred (AGM-E)
CHSCM looks like a pretty decent buy today. I was able to sell last week for $25.35 and I’ve been buying back over the last few days where there have been weakness in the CHS issues.
I’m kind of surprised that KTH hasn’t found its way into your portfolio.
I actually nibbled on some ATH-D at $16.17…will add some over time – so far, it’s just a tiny position – as cash opens up in the account, I’ll add a bit.
Tim,
I saw your Entergy ETI- and went into a semi panic. I went the Entergy bond route back in 2009, just flashed through my mind this is my second largest position and they mature in 4 months ! Nope, maturity is 10/1/24 🙂
Thanks for posting your positions. I know we all must do our own due diligence, but your due diligence is heads and shoulders above mine, so when I see we both own a few of the same issues my confidence level goes up a few notches.
CUSIP 29365PAP7
Security Type Corporates
Seniority —
Issuer Name Entergy Gulf Sts Louisiana Llc
Company Name Entergy Gulf States Louisiana, L.L.C.
Issuer Location Jefferson
Sector Utilities
Industry Electric Utilities
Maturity Date 10/01/2024
Coupon Rate 5.590%
Coupon Type Fixed
Coupon Frequency Semi-annually
Accrual Day Count 30/360
Dated Date 10/02/2009
First Settlement Date 10/02/2009
Hi Bill – just remember that some of these are small positions while some are overweight–with these banks and insurance companies I think a basket of issues is better than betting on 1 or 2 horses.
Hi!
Where are the III ratings explained?
Thanks .
D.
sock drawer is the only rating that matters.
David–there is no explanation and I will probably eliminate that since it might be useful but only if on can update them constantly. Was a NOT good idea when the website was originally built.
Thanks, Tim. Your continued transparency and great work is much appreciated, which reminds me it’s almost time for another contribution to help you keep it going.
Dave D
Thanks Tim. I just made a donation,
Thanks Brett–I certainly appreciate it–in fact just got back from the tech folks office and spent a chunk on so items that needed attention (add on updates, google analytics changeover, and a few minor cosmetic items). Also for a couple years I have been running without a tech ‘babysitter’ so I needed to flesh out a tech support program with them.
You’re most welcome Dave–I still enjoy it, but as always time is a constraint.