Spectrum Asset Management, Inc.

In its 13F for Q2 2025 (holdings as of June 30, 2025, filed August 8, 2025), Spectrum Asset Management, Inc. reported 2 stock positions worth $60.4 million. Its top holding was Invesco Preferred ETF (PGX) at 86.1% of the portfolio, followed by Invesco Variable Rate Prefer (VRP, 13.9%). Compared with Q1 2025, it sold out of 1 and added to 2. The biggest buy was Invesco Variable Rate Prefer (VRP, shares +337%) and the biggest sale an exit from iShares Preferred & Income S (PFF).