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		3,635,591	$40,791,351	74.32%
2.	Ishares Tr		222,761	$6,845,445	12.47%
3.	Wells Fargo & Company	WFC	3,532	$4,241,226	7.73%
4.	Invesco Exch Traded Fd Tr Ii		78,451	$1,901,675	3.46%
5.	Bank Of America Corp	BAC	897	$1,107,409	2.02%