Spectrum Asset Management, Inc.

In its 13F for Q4 2025 (holdings as of December 31, 2025, filed February 2, 2026), Spectrum Asset Management, Inc. reported 2 stock positions worth $74.1 million. Its top holding was Invesco Preferred ETF (PGX) at 81.5% of the portfolio, followed by Invesco Variable Rate Prefer (VRP, 18.5%). Compared with Q3 2025, it added to 2. The biggest buy was Invesco Variable Rate Prefer (VRP, shares +799%).

Most Recent 13F
Q2 2026
Location
STAMFORD, CT
CIK
0001318293
Portfolio Value
$74.1M (Q4 2025)
SEC Filing
0001318293-26-000001 ↗ filed Feb 2, 2026

Holdings Value

0$20.0M$40.0M$60.0M$80.0M$100.0M Q1 2024: $52.0M Q1 2024 Q2 2024: $22.9M Q2 2024 Q3 2024: $55.4M Q3 2024 Q4 2024: $96.3M Q4 2024 Q1 2025: $49.5M Q1 2025 Q2 2025: $60.4M Q2 2025 Q3 2025: $43.7M Q3 2025 Q4 2025: $74.1M $74.1M Q4 2025 Q1 2026: $45.0M Q1 2026 Q2 2026: $64.5M Q2 2026

Holdings 2 stocks · $74.1M
PGX Invesco Preferred ETF 81.48% 5,372,426 $60.4M Add +47.9%
VRP Invesco Variable Rate Prefer 18.52% 564,181 $13.7M Add +798.8%
Other holdings (2): bonds, preferreds, convertibles and warrants · $5.3M (not counted above)
SecurityClassShares / PrincipalValueChange
WELLS FARGO & COMPANY (WFC 7.5 PERP L) PERP PFD CNV A 3,487$4.2MNo change
BANK OF AMERICA CORP (BAC 7.25 PERP L) 7.25%CNV PFD L 897$1.1MNo change

Total filed on the 13F, all lines: $79.5M.

Portfolio Sells Q3 2025 → Q4 2025
None this quarter.

Portfolio Buys Q3 2025 → Q4 2025
VRP Invesco Variable Rate Prefer Add +798.8% 18.52% +14.97
PGX Invesco Preferred ETF Add +47.9% 81.48% −14.97

All Filings

QuarterPositions13F Reported ValueTop Holdings
Q2 2026 2$64.5MPGX, VRP
Q1 2026 2$45.0MPGX, VRP
Q4 2025 2$74.1MPGX, VRP
Q3 2025 2$43.7MPGX, VRP
Q2 2025 2$60.4MPGX, VRP
Q1 2025 3$49.5MPGX, PFF, VRP
Q4 2024 3$96.3MPGX, VRP, PFF
Q3 2024 3$55.4MPGX, PFF, VRP
Q2 2024 3$22.9MPFF, VRP, PGX
Q1 2024 3$52.0MPGX, PFF, VRP