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ONEMAIN FINANCE CORP 3.5% 01/15/2027 SR LIEN NEXT CALL 2014 2014 CALPINE CORP 5.25% 06/01/2026 USD PVT REGS SR LIEN 3091 3091 HOWMET AEROSPACE INC 6.875% 05/01/2025 USD SR LIEN 3481 3481 CITIZENS FINANCIAL GROUP, INC. PFD USD1.5875(6.35% 7803 7803 NOKIA OYJ 4.375% 06/12/2027 USD SR LIEN S&P BB+ 8658 8658 CITIGROUP INC. HYBRID PERPETUAL USD SER P SUB LIEN 10451 10451 MERITOR, INC. 6.25% 06/01/2025 USD PVT REGS SR LIE 10477 10477 JPMORGAN CHASE & CO. HYBRID PERPETUAL USD SER FF J 10483 10483 TRUIST FINANCIAL CORPORATION HYBRID PERPETUAL SER 10585 10585 KB HOME 7.625% 05/15/2023 USD SR LIEN NEXT CALL DT 10610 10610 THE PNC FINANCIAL SERVICES GRP, INC. PFD 6.1250 FI 10708 10708 VIDEOTRON LTD. 5.375% 06/15/2024 USD PVT REGS SR L 10722 10722 CINEMARK USA INC 8.75% 05/01/2025 USD PVT REGS SR 10746 10746 TRI POINTE GROUP INC 5.7% 06/15/2028 USD SR LIEN NEXT 12128 12128 REGIONS FINANCIAL CORPORATION PFD USD1.4250(5.70%) 12167 12167 OUTFRONT MEDIA CAP LLC/C 6.25% 06/15/2025 USD PVT 12513 12513 COLT MERGER SUB INC 5.75% 07/01/2025 USD PVT REGS 12877 12877 COLT MERGER SUB, INC. 6.25% 07/01/2025 USD PVT REG 12971 12971 NAVIENT CORPORATION 5.5% 03/15/2029 SR LIEN NEXT CALL 13081 13081 U.S. BANCORP HYBRID PERPETUAL USD SER I JRSUB LIEN 13084 13084 WYNDHAM DESTINATIONS, INC. 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HYBRID PERPETUAL USD SER Q SUB LIEN 25246 25246 CHARLES SCHWAB CORPORATION (TH HYBRID PERPETUAL SE 25333 25333 SANOFI SPONSORED ADR CMN (SNY) 25451 25451 TEGNA INC. 4.625% 03/15/2028 USD SR LIEN NEXT CALL DT. 03 25610 25610 PENSKE AUTOMOTIVE GROUP 3.5% 09/01/2025 SRSUB LIEN 25893 25893 PENNYMAC FIN SVCS INC 5.375% 10/15/2025 PVT REGS S 25971 25971 ARCONIC CORPORATION 6.0% 05/15/2025 USD PVT REGS S 26317 26317 TEGNA INC 4.75% 03/15/2026 USD PVT REGS SR LIEN NEXT 26350 26350 CRH PLC SPON ADR ADR CMN (CRH) 26558 26558 MGM RESORTS INTERNATIONAL 5.5% 04/15/2027 USD SR 26915 26915 FREEPORT-MCMORAN INC. 4.55% 11/14/2024 USD SR LIEN M- 26936 26936 APACHE CORP 4.625% 11/15/2025 USD SR LIEN NEXT CALL DT. 26991 26991 NOVARTIS AG-ADR SPONSORED ADR CMN (NVS) 27028 27028 SUMITOMO MITSUI FINANCIAL GRP SPONSORED ADR CMN 27160 27160 NUSTAR LOGISTICS LP 5.75% 10/01/2025 SR LIEN NEXT 27262 27262 REGIONS FINANCIAL CORPORATION HYBRID PERPETUAL USD 27439 27439 SERVICE PROPERTIES TRUST 7.5% 09/15/2025 USD SR LI 27649 27649 SILGAN HOLDINGS INC 4.125% 02/01/2028 USD SER WI SR 27852 27852 EQT CORP STEP 02/01/2025 USD SR LIEN 6.625% 08/01/21- 28878 28878 SIEMENS AKTIENGESELLSCHAFT SPONSORED ADR CMN 29083 29083 BP P.L.C. SPONSORED ADR CMN (BP) 30092 30092 ENEL SOCIETA PER AZIONI ADR CMN (ENLAY) 30449 30449 THE CHARLES SCHWAB CORP HYBRID PERPETUAL USD JRSUB 30950 30950 KKR GROUP FINANCE CO. IX LLC PFD USD1.1562(4.62%) 31066 31066 VOYA FINANCIAL, INC. HYBRID 05/15/2053 31229 31229 M&T BANK CORPORATION HYBRID PERPETUAL SER G JRSUB 31525 31525 TENET HEALTHCARE CORP 4.625% 07/15/2024 USD PVT SR 32049 32049 TAKEDA PHARMACEUTICAL CO LTD SPONSORED ADR CMN 32712 32712 IBERDROLA SOCIEDAD ANONIMA SPONSORED ADR CMN 33147 33147 ASML HOLDING N.V. ADR CMN (ASML) 33438 33438 NOVO-NORDISK A/S ADR ADR CMN (NVO) 33600 33600 UNILEVER PLC (NEW) SPONSORED ADR CMN (UL) 33619 33619 UBS GROUP AG CMN (UBS) 33953 33953 SPRINGLEAF FINANCE CORP 6.875% 03/15/2025 33982 33982 ABB LTD SPONSORED ADR CMN (ABB) 34353 34353 RIO TINTO PLC SPONSORED ADR (RIO) 34541 34541 AT&T INC. PFD USD1.2500(5.00%) SERIES A NEXT CALL 34572 34572 CAPITAL ONE FINANCIAL CORPORAT HYBRID PERPETUAL US 35290 35290 CITIZENS FINANCIAL GROUP, INC. HYBRID PERPETUAL US 35331 35331 STMICROELECTRONICS NV ADR CMN (STM) 35438 35438 PTC INC 3.625% 02/15/2025 USD PVT REGS SR LIEN NEX 35961 35961 WELLS FARGO & COMPANY HYBRID PERPETUAL USD SER U S 36023 36023 B&G FOODS INC 5.25% 04/01/2025 USD SR LIEN NEXT CA 36208 36208 COMMERCIAL METALS COMPANY 4.875% 05/15/2023 USD SR 36268 36268 AECOM 5.875% 10/15/2024 USD SER WI SR LIEN NEXT CA 36447 36447 GFL ENVIRONMENTAL INC 5.125% 12/15/2026 USD PVT REGS 36480 36480 DOMINION ENERGY, INC. HYBRID PERPETUAL USD SER B S 36560 36560 LAMAR MEDIA CORP 3.75% 02/15/2028 USD SER WI SR LIEN 36713 36713 NATIONAL GRID PLC SPONSORED ADR CMN (NGG) 36734 36734 EQUITABLE HOLDINGS, INC. HYBRID PERPETUAL USD SER 36740 36740 PARTNERRE FINANCE B LLC HYBRID 10/01/2050 37254 37254 HUNTINGTON BANCSHARES INCORPOR HYBRID PERPETUAL US 37298 37298 CLARK EQUIPMENT COMPANY 5.875% 06/01/2025 USD PVT 37565 37565 TRANSDIGM INC 8.0% 12/15/2025 USD PVT REGS SR LIEN 37625 37625 BANK OF NEW YORK MELLON CORPOR HYBRID PERPETUAL US 37798 37798 SEMPRA ENERGY HYBRID PERPETUAL USD JRSUB LIEN CPN 37838 37838 ENPRO INDUSTRIES, INC. 5.75% 10/15/2026 USD SR LIE 38086 38086 HERBALIFE/HLF FINANCING 7.875% 09/01/2025 PVT REGS 38099 38099 DUKE ENERGY CORPORATION HYBRID 01/15/2082 JRSUB LIEN 38375 38375 BANK OF AMERICA CORPORATION HYBRID PERPETUAL USD S 38548 38548 COMERICA INCORPORATED HYBRID PERPETUAL USD JRSUB L 38642 38642 HILLENBRAND INC 5.75% 06/15/2025 USD SR LIEN NEXT 38760 38760 HCA INC 5.375% 09/01/2026 USD SR LIEN NEXT CALL DT. 03 01 38817 38817 XEROX HOLDINGS CORP 5.0% 08/15/2025 PVT REGS SR LI 38840 38840 JPMORGAN CHASE & CO. HYBRID PERPETUAL USD SER S JR 38920 38920 TAIWAN SEMICONDUCTOR MFG ADS LTD ADS 1ADS EQUALS 39107 39107 OCCIDENTAL PETROLEUM COR 8.0% 07/15/2025 SR LIEN N 39745 39745 NETFLIX, INC. 5.875% 02/15/2025 USD SR LIEN 39767 39767 NEXTERA ENERGY CAPITAL HOLDING HYBRID 05/01/2079 40016 40016 CITIGROUP INC. HYBRID PERPETUAL SER T SUB LIEN CPN 40299 40299 EMERA INCORPORATED HYBRID 06/15/2076 USD SUB LIEN 40355 40355 HUNTINGTON BANCSHARES INCORPOR HYBRID PERPETUAL SE 40359 40359 IHEARTCOMMUNICATIONS, INC. 6.375% 05/01/2026 USD SR 40434 40434 CIT GROUP INC. HYBRID PERPETUAL USD SER A JRSUB LI 40653 40653 CITIZENS FINANCIAL GROUP, INC. PFD USD1.2500(5.00% 41218 41218 BNP PARIBAS SPONSORED ADR CMN (BNPQY) 41465 41465 THE ADT CORPORATION 4.125% 06/15/2023 USD SER B SR 41619 41619 DISH DBS CORPORATION 5.875% 07/15/2022 USD SER B S 41734 41734 ING GROEP N.V. SPONS ADR SPONSORED ADR CMN (ING) 41760 41760 KEYCORP PFD USD1.5313(6.13%) SERIES E CALLABLE SER 41852 41852 ELANCO ANIMAL HEALTH INCORPORA STEP 08/28/2023 USD 42199 42199 VODAFONE GROUP PUBLIC LIMITED HYBRID 04/04/2079 US 42930 42930 CITIZENS FINANCIAL GROUP, INC. HYBRID PERPETUAL US 44284 44284 ARCELORMITTAL 6.125% 06/01/2025 USD SR LIEN S&P BBB- 45497 45497 SOUTHERN COMPANY (THE) HYBRID 01/15/2051 46843 46843 SCHNEIDER ELECTRIC SE UNSPONSORED ADR (FRANCE) 47069 47069 JELD-WEN INC 6.25% 05/15/2025 USD PVT REGS SR LIEN 47384 47384 US FOODS INC 6.25% 04/15/2025 USD PVT REGS SR LIEN 47450 47450 PERFORMANCE FOOD GROUP I 6.875% 05/01/2025 USD PVT 47541 47541 XPO LOGISTICS, INC. 6.25% 05/01/2025 USD PVT REGS 47550 47550 VOYA FINANCIAL, INC. HYBRID PERPETUAL USD SER A SR 47588 47588 NEXTERA ENERGY OPERATING 4.25% 07/15/2024 USD PVT 47626 47626 WESCO DISTRIBUTION INC 7.125% 06/15/2025 USD PVT R 47843 47843 BP CAPITAL MARKETS P.L.C. HYBRID PERPETUAL USD SUB 48311 48311 AMERICAN AXLE & MFG INC 6.875% 07/01/2028 USD SR LIEN 48961 48961 AMERICAN EXPRESS COMPANY HYBRID PERPETUAL USD 49203 49203 NEWELL BRANDS INC. 4.875% 06/01/2025 USD SR LIEN N 49233 49233 MARKEL CORPORATION HYBRID PERPETUAL USD JRSUB LIEN 49556 49556 WESTERN DIGITAL CORP 4.75% 02/15/2026 USD SR LIEN 49970 49970 JPMORGAN CHASE & CO. HYBRID PERPETUAL USD SER Z SU 50327 50327 GOODYEAR TIRE & RUBBER COMPANY 4.875% 03/15/2027 50436 50436 CHEMOURS COMPANY (THE) 5.375% 05/15/2027 USD SR LIEN 50613 50613 SPRINGLEAF FINANCE CORP 6.625% 01/15/2028 USD SR LIEN 50624 50624 THE PNC FINANCIAL SERVICES GRO HYBRID PERPETUAL US 50716 50716 BALL CORP 5.25% 07/01/2025 USD SR LIEN 50794 50794 PRIME SECSRVC BRW/FINANC 5.25% 04/15/2024 USD PVT 50947 50947 MARRIOTT OWNERSHIP RESORTS, IN 4.75% 01/15/2028 USD 51449 51449 RYMAN HOSPITALITY PROPERTIES, 4.75% 10/15/2027 USD 51501 51501 T-MOBILE USA, INC. 2.625% 04/15/2026 USD SR LIEN NEXT 51538 51538 MATTEL INC 3.375% 04/01/2026 USD PVT REGS SR LIEN NEXT 51698 51698 SABRE GLBL INC. 9.25% 04/15/2025 USD PVT REGS SR L 51729 51729 ASBURY AUTOMOTIVE GROUP, INC. 4.5% 03/01/2028 USD SER 51750 51750 DCP MIDSTREAM OPERATING, LP 3.875% 03/15/2023 USD 51820 51820 NAVIENT CORPORATION 6.75% 06/15/2026 USD SR LIEN S&P 52092 52092 ALCOA ALUMINUM DEBS 6.750000 01/15/2028 CALL @ MW 52293 52293 MPT OPERATING PARTNERSHIP 5.25% 08/01/2026 USD SR 52531 52531 BUCKEYE PARTNERS, L.P. 4.35% 10/15/2024 USD SR LIE 52584 52584 CENTERPOINT ENERGY, INC HYBRID PERPETUAL USD SER A 53021 53021 TRUIST FINANCIAL CORPORATION HYBRID PERPETUAL USD 53851 53851 CHARLES SCHWAB CORPORATION (TH HYBRID PERPETUAL SE 54724 54724 WELLS FARGO & COMPANY PFD 6.6250 CLASS A SERIES R 54756 54756 NESTLE SA SPONSORED ADR (REP 1/20 CHF 10 REGD SHS) 55947 55947 DISCOVER FINANCIAL SERVICES HYBRID PERPETUAL SER D 55959 55959 ENBRIDGE INC. HYBRID 07/15/2080 SER 20-A SUB LIEN 56826 56826 BANK OF AMERICA CORPORATION HYBRID PERPETUAL USD S 57221 57221 ASTRAZENECA PLC SPONS ADR SPONSORED ADR CMN (AZN) 58250 58250 CSC HOLDINGS, LLC 5.25% 06/01/2024 USD SER B SR LI 58485 58485 GRAPHIC PACKAGING INTL 4.125% 08/15/2024 USD SR LI 58607 58607 SEALED AIR CORPORATION 5.125% 12/01/2024 USD PVT R 59077 59077 BANK OF AMERICA CORPORATION HYBRID PERPETUAL USD S 60899 60899 BANK OF NEW YORK MELLON CORPOR HYBRID PERPETUAL SE 61418 61418 OWENS-BROCKWAY 5.375% 01/15/2025 USD PVT REGS SR L 62622 62622 MORGAN STANLEY HYBRID PERPETUAL SER M JRSUB LIEN C 62962 62962 BANK OF NOVA SCOTIA (THE) HYBRID PERPETUAL USD SUB 64514 64514 SPRINT CORP 7.625% 02/15/2025 USD SR LIEN NEXT CAL 64834 64834 SQUARE, INC. 2.75% 06/01/2026 USD PVT REGS SR LIEN NEXT 65226 65226 ALLY FINANCIAL INC. HYBRID PERPETUAL USD SER C JRSUB 66356 66356 METLIFE, INC. HYBRID PERPETUAL USD SER D JRSUB LIE 67037 67037 HCA INC. 5.375% 02/01/2025 USD SR LIEN 67284 67284 ISHARES MSCI AUSTRALIA ETF (EWA) 67633 67633 METLIFE, INC. HYBRID PERPETUAL SER G JRSUB LIEN CP 68470 68470 CMS ENERGY CORPORATION HYBRID 06/01/2050 70945 70945 CENTURYLINK INC 7.5% 04/01/2024 USD SER Y SR LIEN 72394 72394 HILTON DOMESTIC OPERATIN 5.375% 05/01/2025 USD PVT 73469 73469 TRUIST FINANCIAL CORPORATION HYBRID PERPETUAL USD 73612 73612 ISHARES, INC.MSCI JAPAN ETF MUTUAL FUND (EWJ) 73656 73656 YUM! BRANDS, INC 7.75% 04/01/2025 USD PVT REGS SR 75119 75119 SVB FINANCIAL GROUP HYBRID PERPETUAL USD SER C JRSUB 75758 75758 VICI PROPERTIES / NOTE 3.5% 02/15/2025 USD PVT REG 77117 77117 PRUDENTIAL FINANCIAL, INC. HYBRID 06/15/2043 78092 78092 CIT GROUP INC. 5.25% 03/07/2025 USD SR LIEN NEXT C 78257 78257 ALLY FINANCIAL INC. HYBRID PERPETUAL USD SER B JRSUB 78263 78263 CENTENE CORP 2.45% 07/15/2028 SR LIEN NEXT CALL DT. 05 15 79780 79780 JPMORGAN CHASE & CO. HYBRID PERPETUAL USD SER X JR 80269 80269 CITIGROUP INC. HYBRID PERPETUAL SER W JRSUB LIEN C 80820 80820 SENSATA TECHNOLOGIES B.V. 5.0% 10/01/2025 REGS SR 83399 83399 TRANSCANADA TRUST HYBRID 08/15/2076 83602 83602 SUNOCO LP 5.875% 03/15/2028 USD SR LIEN M-W+50.00BP 83834 83834 CCO HLDGS LLC/CAP CORP 4.0% 03/01/2023 USD PVT REG 86137 86137 VALEANT PHARMACEUTICALS 5.5% 11/01/2025 USD PVT RE 87160 87160 CHARLES SCHWAB CORPORATION (TH HYBRID PERPETUAL US 97217 97217 1011778 BC / NEW RED FIN 5.75% 04/15/2025 USD PVT 98666 98666 FIFTH THIRD BANCORP HYBRID PERPETUAL USD SER L JRS 111169 111169 MIND MEDICINE MINDMED 1379916 1379916 AIR T FUNDING ALPHA 3398877 3398877 GS SHORT DURATION INCOME FUND 4526472 4526472 PEOPLES BANCORP OF NORTH CAROLINA INC 27590 27590 FIRST NORTHN CMNTY BANCORP COM 62576 62576 INTERNATIONAL PAPER CO. CMN 65772 65772 HORIZON BANCORP INC AZ COM 69350 69350 SOUTHERN BANCSHARES N C CO 75600 75600 BCB BANCORP INC COM 77150 77150 MAINSTREET BANCSHARES INC COM 79844 79844 THIRD CENTURY BANCORP 82285 82285 FIRST IC CORP COM 85550 85550 OLD POINT FINL CORP COM 99556 99556 FIRST NORTHWEST BANCORP COM 101000 101000 TEB BANCORP INC COM 102630 102630 SEMPRA ENERGY CMN 133380 133380 XCEL ENERGY INC. CMN 137678 137678 TERRITORIAL BANCORP INC COM 151500 151500 AVALONBAY COMMUNITIES INC CMN 152508 152508 OP BANCORP COM 159500 159500 HONEYWELL INTL INC CMN 166808 166808 ILLINOIS TOOL WORKS 173614 173614 VENTAS, INC. CMN 175802 175802 CHEVRON CORPORATION CMN 177081 177081 COMMERCIAL NATL FINL CORP PA COM 181000 181000 EUREKA HOMESTEAD BANCORP INC COM 181350 181350 EATON CORP PLC CMN 190102 190102 COMMUNITY FINL CORP MD COM 196550 196550 FIRST RESOURCES BK EXTON PA COM 215461 215461 MEDTRONIC PUBLIC LIMITED COMPA CMN 218237 218237 BAYCOM CORP COM 225120 225120 AT&T INC. CMN (T) 238251 238251 INTL BUSINESS MACHINES CORP CMN (IBM) 240588 240588 CENTRIC FINL CORP COM 242500 242500 BRISTOL-MYERS SQUIBB COMPANY CMN 243165 243165 CVS HEALTH CORP CMN (CVS) 247584 247584 KLA CORP CMN (KLAC) 258066 258066 COCA-COLA COMPANY 260998 260998 C&F FINANCIAL CORP COM 270846 270846 BLACKROCK, INC. CMN 274668 274668 UNION PACIFIC CORP. CMN 277123 277123 TEXAS INSTRUMENTS INC. CMN 282705 282705 MC DONALDS CORP CMN 294877 294877 CRAZY WOMAN CREEK BANCORP INC COM 303634 303634 EXCHANGE BK SANTA ROSA CALIF PAR 2.50 310920 310920 PRUDENTIAL BANCORP INC NEW COM 312639 312639 BANK UTICA N Y COM NON VTG 316400 316400 BANKFINANCIAL CORP COM 320100 320100 FARMERS & MERCHANTS BK LONG BEACH CALIF COM 321200 321200 PROCTER & GAMBLE COMPANY (THE) CMN (PG) 330268 330268 JOHNSON & JOHNSON CMN 330507 330507 CISCO SYSTEMS, INC. CMN 342198 342198 U & I FINL CORP COM 346500 346500 JPMORGAN CHASE & CO CMN 348370 348370 ALLIED FIRST BANCORP INC COM 352000 352000 FFBW INC MD COM 365800 365800 HMN FINL INC COM 367584 367584 THE HOME DEPOT, INC. CMN 387619 387619 CIB MARINE BANCSHARES INC COM NEW 391000 391000 MICROSOFT CORPORATION CMN 403584 403584 AT&T INC 578100 578100 WCF BANCORP INC COM 703570 703570 BLACKROCK MORTAGE TRUST 1132788 1132788 NORTHVOLT INVESTMENTS, SLP FMV 74741 74741 WEST STREET CAPITAL PARTNERS VIII FMV 245631 245631 WEST STREET STRATEGIC SOLUTIONS OFFSHORE FEEDER FUND I,LLC FMV 392823 392823 EMPOWERU INC. AT COST 425000 425500 GLOBAL ATLANTIC IVY CO-INVEST ACCESS OFFSHORE FMV 1715749 1715749 FARNUM AT COST 2134981 2134981 SWEET LEAF FMV 2174681 2174681 LUXOR LAND FMV 3018077 3018077 KWIKBIT AT COST 3500000 3500000 70TH STREET INVESTMENT FMV 4000000 4000000 DAFNA FUND, LP FMV 4188747 4188747 WB CREDIT FUND LTD FMV 6614018 6614018 X3 FUND FMV 15369530 15369530 SABA FMV 23744115 23744115 LEGAL FEES 1645 0 1645 OFFICE SUPPLIES 5138 0 4800 INSURANCE 7568 0 7568 PARTNERSHIP EXPENSES 0 309302 0 PARTNERSHIP INCOME 1165483 UNREALIZED GAIN ON INVESTMENTS 2053421 INVESTMENT CONSULTING FEES 1272955 1272955 0 CONSULTING 4675 0 0 EXCISE TAX 350000 0 0