Q1 2025 Holdings
Filed 2025-05-14 | 117 holdings | $287.5M | 13F-HR | View on SEC ↗ · Holdings Table ↗
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| Issuer | Class | CUSIP | Value ↓ | Shares | % Portfolio |
|---|---|---|---|---|---|
| Agnico-Eagle(AEM) | COM | 008474108 | $14.6M | 134,972 | 5.1% |
| Metlife Inc(MET) | COM | 59156R108 | $13.3M | 166,181 | 4.6% |
| Timberland Banc(TSBK) | COM | 887098101 | $9.0M | 298,801 | 3.1% |
| CTO Realty | NOTE 3.875% 4/1 | 210226AD8 | $8.4M | $6,049,000 | 2.9% |
| Exchange Bank(EXSR) | COM | 301227203 | $8.3M | 76,054 | 2.9% |
| SB Financial(SBFG) | COM | 78408D105 | $8.2M | 392,556 | 2.8% |
| Shell PLC(SHEL) | SPON ADS | 780259305 | $8.1M | 111,056 | 2.8% |
| Energy Transfer(ET) | COM UT LTD PTN | 29273V100 | $7.7M | 416,471 | 2.7% |
| First Business(FBIZ) | COM | 319390100 | $7.3M | 155,399 | 2.5% |
| PPL Capital | NOTE 2.875% 3/1 | 69352PAS2 | $7.1M | $6,380,000 | 2.5% |
| Fidelity Cvngtn(FENY) | MSCI ENERGY IDX | 316092402 | $6.7M | 263,510 | 2.3% |
| Pfizer Inc(PFE) | COM | 717081103 | $6.3M | 250,397 | 2.2% |
| Bunge Limited(BG) | COM SHS | H11356104 | $6.2M | 80,750 | 2.1% |
| Jazz Invest | NOTE 2.000% 6/1 | 472145AF8 | $6.0M | $5,780,000 | 2.1% |
| Parke Bancorp(PKBK) | COM | 700885106 | $5.8M | 308,932 | 2.0% |
| Kimco Realty | DP CV CL N 7.25% | 49446R687 | $5.5M | 90,923 | 1.9% |
| Vici Prpty(VICI) | COM | 925652109 | $5.4M | 165,232 | 1.9% |
| Merck&co Inc(MRK) | COM | 58933Y105 | $5.2M | 57,731 | 1.8% |
| Ledyard Finan(LFGP) | COM | 523338101 | $5.1M | 326,121 | 1.8% |
| Weyerhaeuser(WY) | COM NEW | 962166104 | $4.7M | 158,888 | 1.6% |
| First Natl VA(FXNC) | COM | 32106V107 | $4.6M | 202,785 | 1.6% |
| Innoviva Inc | NOTE 2.125% 3/1 | 45781MAD3 | $4.2M | $4,395,000 | 1.5% |
| Benchmark Bank(BMBN) | COM | 08160E207 | $4.2M | 167,800 | 1.5% |
| Viatris Inc(VTRS) | COM | 92556V106 | $4.0M | 464,910 | 1.4% |
| Global Medical(GMREUSD) | COM NEW | 37954A204 | $4.0M | 457,038 | 1.4% |
| Verizon Comm(VZ) | COM | 92343V104 | $4.0M | 88,135 | 1.4% |
| CNH Industrial(CNH) | SHS | N20944109 | $4.0M | 324,859 | 1.4% |
| CTO Realty Grow(CTO) | COM | 22948Q101 | $3.7M | 191,892 | 1.3% |
| Flagstar Fncl | UNIT 05/07/2051 | 64944P307 | $3.7M | 98,312 | 1.3% |
| Apple Hoptly(APLE) | COM NEW | 03784Y200 | $3.6M | 280,870 | 1.3% |
| Bank Botetourt(BORT) | COM | 063907208 | $3.5M | 104,474 | 1.2% |
| Potomac Banc(PTBS) | COM | 737643106 | $3.4M | 211,168 | 1.2% |
| Chespke Finan(CPKF) | COM | 16517A109 | $3.3M | 173,000 | 1.2% |
| CSB Bancorp(CSBB) | COM | 12628R107 | $3.0M | 69,000 | 1.1% |
| Cmnty WST Banc(CWBC) | COM | 203937107 | $3.0M | 162,061 | 1.0% |
| Alerus Finan(ALRS) | COM | 01446U103 | $2.9M | 158,972 | 1.0% |
| Liberty Media | NOTE 2.250% 8/1 | 531229AQ5 | $2.9M | $2,395,000 | 1.0% |
| Albertsons COS(ACI) | COM | 013091103 | $2.9M | 131,762 | 1.0% |
| American Intl(AIG) | COM NEW | 026874784 | $2.9M | 32,800 | 1.0% |
| Guess Inc | NOTE 3.750% 4/1 | 401617AF2 | $2.8M | $3,075,000 | 1.0% |
| SFL Corp LTD(SFL) | SHS | G7738W106 | $2.8M | 340,289 | 1.0% |
| Energizer Hldng(ENR) | COM | 29272W109 | $2.7M | 91,042 | 0.9% |
| F&M Bank Corp(FMBM) | COM | 30237P106 | $2.6M | 136,814 | 0.9% |
| LXP Industrial(LXPUSD) | COM | 529043101 | $2.4M | 272,284 | 0.8% |
| Duke Energy | NOTE 4.125% 4/1 | 26441CBY0 | $2.3M | $2,145,000 | 0.8% |
| Ford Motor Co | NOTE 3/1 | 345370CZ1 | $2.3M | $2,350,000 | 0.8% |
| Merchants Finl(MFGI) | COM | 588538108 | $2.3M | 93,700 | 0.8% |
| HCI Group Inc | NOTE 4.750% 6/0 | 40416EAF0 | $2.2M | $1,205,000 | 0.8% |
| VE Wide Moat(MOAT) | MRNGSTR WDE MOAT | 92189F643 | $2.0M | 22,743 | 0.7% |
| Ameris Bancorp(ABCB) | COM | 03076K108 | $1.9M | 33,759 | 0.7% |