Q3 2025 Holdings
Filed 2025-11-13 | 33 holdings | $127.3M | 13F-HR | View on SEC ↗ · Holdings Table ↗
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| Issuer | Class | CUSIP | Value ↓ | Shares | % Portfolio |
|---|---|---|---|---|---|
| Ishares TR(USHY) | BROAD USD HIGH | 46435U853 | $70.1M | 1,855,800 | 55.1% |
| Angel OAK Funds Trust(MBS) | MORTGAGE BACKED | 03463K737 | $15.7M | 1,799,522 | 12.3% |
| Angel OAK Funds Trust(AOHY) | HIGH YIELD OPPOR | 03463K745 | $15.4M | 1,370,866 | 12.1% |
| Annaly Capital Management in(NLY) | COM NEW | 035710839 | $2.0M | 99,833 | 1.6% |
| UMB Finl Corp(UMBF) | COM | 902788108 | $1.6M | 13,600 | 1.3% |
| Kingstone COS Inc(KINS) | COM | 496719105 | $1.6M | 108,249 | 1.2% |
| Ellington Financial Inc(EFC) | COM | 28852N109 | $1.5M | 119,250 | 1.2% |
| Redwood Trust Inc(RWT) | COM | 758075402 | $1.5M | 264,257 | 1.2% |
| First Ctzns Bancshares Inc D(FCNCA) | CL A | 31946M103 | $1.4M | 805 | 1.1% |
| Greene Cnty Bancorp Inc(GCBC) | COM | 394357107 | $1.3M | 57,500 | 1.0% |
| Plumas Bancorp(PLBC) | COM | 729273102 | $1.2M | 28,000 | 0.9% |
| Pennymac MTG Invt TR(PMT) | COM | 70931T103 | $1.2M | 94,182 | 0.9% |
| Citigroup Inc(C) | COM NEW | 172967424 | $1.1M | 11,000 | 0.9% |
| First UTD Corp(FUNC) | COM | 33741H107 | $1.0M | 27,700 | 0.8% |
| Bank7 Corp(BSVN) | COM | 06652N107 | $1.0M | 22,000 | 0.8% |
| Prosperity Bancshares Inc(PB) | COM | 743606105 | $922.3K | 13,900 | 0.7% |
| Eagle Bancorp Inc MD(EGBN) | COM | 268948106 | $901.8K | 44,600 | 0.7% |
| Columbia BKG SYS Inc(COLB) | COM | 197236102 | $900.9K | 35,000 | 0.7% |
| Western Alliance Bancorp(WAL) | COM | 957638109 | $867.2K | 10,000 | 0.7% |
| East West Bancorp Inc(EWBC) | COM | 27579R104 | $798.4K | 7,500 | 0.6% |
| M & T BK Corp(MTB) | COM | 55261F104 | $790.5K | 4,000 | 0.6% |
| FS Bancorp Inc(FSBW) | COM | 30263Y104 | $718.6K | 18,000 | 0.6% |
| Southstate BK Corp(SSB) | COM | 84472E102 | $514.1K | 5,200 | 0.4% |
| Pinnacle Finl Partners Inc | COM | 72346Q104 | $469.0K | 5,000 | 0.4% |
| Preferred BK LOS Angeles CA(PFBC) | COM NEW | 740367404 | $452.0K | 5,000 | 0.4% |
| Flushing Finl Corp(FFIC) | COM | 343873105 | $414.3K | 30,000 | 0.3% |
| Arrow Finl Corp(AROW) | COM | 042744102 | $311.3K | 11,000 | 0.2% |
| Agnc Invt Corp(AGNC) | COM | 00123Q104 | $298.6K | 30,500 | 0.2% |
| Ameriserv Finl Inc(ASRV) | COM | 03074A102 | $290.0K | 100,000 | 0.2% |
| Flagstar Financial Inc(FLG) | COM NEW | 649445400 | $288.8K | 25,000 | 0.2% |
| Rithm Capital Corp(RITM) | COM NEW | 64828T201 | $284.8K | 25,000 | 0.2% |
| Patriot Natl Bancorp Inc(PNBK) | COM NEW | 70336F203 | $194.7K | 149,771 | 0.2% |
| Amerant Bancorp Inc(AMTB) | CL A | 023576101 | $192.7K | 10,000 | 0.2% |