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Whitepaper

The Case for Preferred Securities

March 24, 2026

Preferred and hybrid securities combine traits of debt and equity, offering elevated income in exchange for subordination and hybrid capital features. Whether accessed through exchange-traded funds (ETFs) or separately managed accounts (SMAs), preferred securities may offer a differentiated source of income within diversified portfolios.

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Kevin Lynyak

Managing Director

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James Benadum, CFA

Director, Portfolio Manager

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