Instuitional Investor - Spectrum Asset Management, Inc.

13F Holdings

Filing Period:

No.	Security	Ticker	Shares	Value	% Port
1.	Invesco Exch Traded Fd Tr Ii - PFD ETF		5,771,517	$66,545,602	65.51%
2.	Invesco Exch Traded Fd Tr Ii		863,487	$20,887,779	20.56%
3.	Ishares Tr		280,849	$8,829,940	8.69%
4.	Wells Fargo & Company	WFC	3,532	$4,218,303	4.15%
5.	Bank Of America Corp	BAC	897	$1,093,667	1.07%