Q4 2025 Holdings
Filed 2026-02-17 | 161 holdings | $1.0B | 13F-HR | View on SEC ↗ · Holdings Table ↗
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| Issuer | Class | CUSIP | Value ↓ | Shares | % Portfolio |
|---|---|---|---|---|---|
| Spdr S&P 500 ETF TR(SPY)Call | TR UNIT | 78462F103 | $102.3M | 150,000 | 9.9% |
| Apollo Global Mgmt Inc | SER A MAND CNV | 03769M304 | $58.7M | 776,823 | 5.7% |
| KKR & Co Inc | 6.25 CON SER D | 48251W500 | $57.9M | 1,116,976 | 5.6% |
| Mplx LP(MPLX) | COM UNIT REP LTD | 55336V100 | $55.4M | 1,037,984 | 5.4% |
| Plains All Amern Pipeline L(PAA) | UNIT LTD PARTN | 726503105 | $53.2M | 2,959,828 | 5.1% |
| Energy Transfer L P(ET) | COM UT LTD PTN | 29273V100 | $49.9M | 3,027,317 | 4.8% |
| Hess Midstream LP(HESM) | CL A SHS | 428103105 | $47.6M | 1,381,016 | 4.6% |
| Western Midstream Partners L(WES) | COM UNIT LP INT | 958669103 | $45.7M | 1,157,677 | 4.4% |
| RLJ Lodging TR | CUM CONV PFD A | 74965L200 | $44.1M | 1,772,758 | 4.3% |
| Enterprise Prods Partners L(EPD) | COM | 293792107 | $43.0M | 1,340,742 | 4.2% |
| Flagstar Bank National Assoc | UNIT 05/07/2051 | 64944P307 | $42.1M | 1,051,729 | 4.1% |
| Sunoco LP Co FIN Corp(SUN) | COM UT REP LP | 86765K109 | $38.0M | 725,366 | 3.7% |
| Boeing Co(BA) | DEP CONV PFD A | 097023204 | $28.5M | 413,311 | 2.8% |
| Cheniere Energy Inc(LNG) | COM NEW | 16411R208 | $23.1M | 119,054 | 2.2% |
| Ares Management Corporation(ARES) | 6.75 SE B PFD | 03990B309 | $17.6M | 349,671 | 1.7% |
| Kinder Morgan Inc del(KMI) | COM | 49456B101 | $16.8M | 611,460 | 1.6% |
| Targa RES Corp(TRGP) | COM | 87612G101 | $16.5M | 89,477 | 1.6% |
| Williams COS Inc(WMB) | COM | 969457100 | $16.2M | 269,468 | 1.6% |
| Pebblebrook Hotel TR | 6.3 CUM PFD SR F | 70509V704 | $16.2M | 848,469 | 1.6% |
| Invesco QQQ TR(QQQ)Call | UNIT SER 1 | 46090E103 | $15.4M | 25,000 | 1.5% |
| Chart Inds Inc(GTLS) | COM | 16115Q308 | $13.7M | 66,590 | 1.3% |
| Strategy Inc | SERIES A PERP PF | 594972887 | $11.0M | 139,204 | 1.1% |
| Oneok Inc New(OKE) | COM | 682680103 | $10.5M | 143,296 | 1.0% |
| Genesis Energy L P(GEL) | UNIT LTD PARTN | 371927104 | $9.6M | 617,353 | 0.9% |
| Kinetik Holdings Inc(KNTK) | COM NEW CL A | 02215L209 | $9.3M | 258,622 | 0.9% |
| Cheniere Energy Partners LP(CQP) | COM UNIT | 16411Q101 | $8.5M | 158,175 | 0.8% |
| Braemar Hotels & Resorts Inc | 5.5 CUM CV PFD B | 10482B200 | $8.0M | 543,025 | 0.8% |
| USA Compression Partners LP(USAC) | COM UNIT LTDPAR | 90290N109 | $7.1M | 307,431 | 0.7% |
| Delek Logistics Partners LP(DKL) | COM UNT RP INT | 24664T103 | $6.8M | 152,880 | 0.7% |
| Etfis SER TR I(PFFA) | VIRTUS INFRCAP | 26923G822 | $6.2M | 289,221 | 0.6% |
| Phillips 66(PSX) | COM | 718546104 | $5.6M | 43,667 | 0.5% |
| Global NET Lease Inc(GNL) | COM NEW | 379378201 | $4.8M | 556,907 | 0.5% |
| Marvell Technology Inc(MRVL) | COM | 573874104 | $4.6M | 54,177 | 0.4% |
| Marathon Pete Corp(MPC) | COM | 56585A102 | $4.6M | 28,045 | 0.4% |
| Global Partners LP(GLP) | COM UNITS | 37946R109 | $4.5M | 107,681 | 0.4% |
| Hewlett Packard Enterprise C(HPEPC) | 7.625 MAND CONV | 42824C208 | $4.4M | 66,478 | 0.4% |
| KKR & Co Inc(KKR) | COM | 48251W104 | $4.3M | 33,946 | 0.4% |
| Amazon COM Inc(AMZN) | COM | 023135106 | $3.9M | 16,874 | 0.4% |
| Mcdonalds Corp(MCD) | COM | 580135101 | $3.6M | 11,927 | 0.4% |
| EPR Pptys | CONV PFD 9% SR E | 26884U307 | $3.6M | 121,506 | 0.4% |
| Tesla Inc(TSLA)Call | COM | 88160R101 | $3.6M | 8,000 | 0.3% |
| Apollo Global Mgmt Inc(APO) | COM | 03769M106 | $3.5M | 24,218 | 0.3% |
| Meta Platforms Inc(META) | CL A | 30303M102 | $3.5M | 5,227 | 0.3% |
| Valero Energy Corp(VLO) | COM | 91913Y100 | $3.4M | 21,123 | 0.3% |
| Pebblebrook Hotel TR | 6.375 PFD SER E | 70509V605 | $3.4M | 176,733 | 0.3% |
| Freeport-Mcmoran Inc(FCX) | CL B | 35671D857 | $3.3M | 64,223 | 0.3% |
| Celsius Hldgs Inc(CELH) | COM NEW | 15118V207 | $2.9M | 62,895 | 0.3% |
| Nextera Energy Inc(NEE) | COM | 65339F101 | $2.8M | 35,051 | 0.3% |
| Albemarle Corp(ALBPA) | 7.25% DEP SHS A | 012653200 | $2.7M | 45,180 | 0.3% |
| Citizens Finl Group Inc(CFG) | COM | 174610105 | $2.6M | 44,724 | 0.3% |