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		4,669,495	$51,971,501	79.31%
2.	Invesco Exch Traded Fd Tr Ii		342,707	$8,379,235	12.79%
3.	Wells Fargo & Company	WFC	3,487	$4,094,191	6.25%
4.	Bank Of America Corp	BAC	897	$1,088,061	1.66%
5.	Ishares Tr		0	$0	0%