CEF Holdings --- May 2026

[dickoncapecod]

Here we go again with 1/3 of 2026 behind us....

GOF 9% PDI 8% PFN 7% PHK 7% ODDS & ENDS 5% CASH 64%

Regards, Dick

 

[COcheesehead]

GOF, PDI and the newcomer YYY. All together about 8% of the portfolio.

 

[marget]

Roth:

PDI--- 23.99%
PDO---18%
PAXS---11.46%
PFN---9.45%
cash---29.65%

IRA:

PDI---62.57%
cash---37.43%

This allocation could change very quickly. It is a hold till May ex-date.
I may also buy just b/f the ex-date if I think a buy will hold for 5-6 days.

By the end of May, I could be in significant cash positions which will stay that way for awhile.

@dickoncapecod --- you definitely don't have to answer this personal question, but I am guessing that 8% of PDI is around 9k shares. Is this guess in the ballpark? Thanks

 

[dickoncapecod]

Roth:

PDI--- 23.99%
PDO---18%
PAXS---11.46%
PFN---9.45%
cash---29.65%

IRA:

PDI---62.57%
cash---37.43%

This allocation could change very quickly. It is a hold till May ex-date.
I may also buy just b/f the ex-date if I think a buy will hold for 5-6 days.

By the end of May, I could be in significant cash positions which will stay that way for awhile.

@dickoncapecod --- you definitely don't have to answer this personal question, but I am guessing that 8% of PDI is around 9k shares. Is this guess in the ballpark? Thanks

Hi. Somewhat more..... D

 

[Budswhizzer]

Hi,
My current CEF holdings:

PDI 38%, PHK 16%, PFN 13%, GOF 9, PAXS 4%, PCN 3%, PTY 2%, Cash at 8%.


Regards,
Todd

 

[YellowSubmarine]

GOF, PDI and the newcomer YYY. All together about 8% of the portfolio.

fwiw...YYY is an ETF but I too include my CEFS fund as that is the holdings.

 

[YellowSubmarine]

30% of my equity positions are CEFs. The largest of my 21 positions are: NMCO, ETV, NZF, UTG, NEA..
47/45/8% cash. The three Nuveen muni CEFs are held in three separate accounts. I consider them as near cash; and if that's the case, my cash would be 18%.

 

[joejetski]

Initial May Holdings (Income Portfolio Only):
Cash: = 15.8% CDs: = 14%
Near Cash (CSHI, PAAA, SGOV) = 20%
Other Fixed income (BNDI, PIMIX, VWEAX) = 19.5%
CEF Funds (CEFS, FOF) = 5.8%
Natural Resources (BCX, GGN) = 5.8%
Energy (KYN, MLPI) = 4%
Utilities (DNP, ERH, HTD) = 8.6%
High Income Sleeve (PFFA, QQQI, SPYI, TLTW) = 9.3%

Income (TIRA) = 60%, Roth (age 75) = 30%, Taxable = 10%

I sold out of my PIMCOs earlier this week, booked a 2% loss, but came back from down 5% from the shenanigans a month or so ago. They are bouncing around now looking for a direction, IMO. May be better re-entry points in the coming months (sell in May and go away, lol). In the meantime, I am going to try some divi capture in the PIMCOs with a small part of my cash position to see how it goes.

The remainder of my CD ladder (with exception of several smaller CDs maturing around retirement early next year) will mature over the next 4 months, so will be a bit on the cash heavy side looking to add on weakness. May pick up some YYY (thanks Cheese and YS).

 

[dickoncapecod]

Added modestly to GOF and RCS, both relatively cheap and likely earning their distributions.
Regards, Dick

 

[Steelpony]

In a TIRA:

These help finance present needs and goals, steady reliable income. PTY,PDI,PHK,PAXS,PFL,PFN,PCN. Added excess cash to needs in April to PHK.

These are presently on reinvestment WDI,KIO,AOD,RIV,ECAT,GOF and 2 REITS, DX,AGNC.

Cash around 3% in anticipation of world peace.

In a taxable account, NEA, NVG. I’m stalking ETV.

 

[Steelpony]

Added modestly to GOF and RCS, both relatively cheap and likely earning their distributions.
Regards, Dick

RCS 80% leverage or a typo?

 

[upwiththesun]

I hold a 16% CEF position all in a Roth. Highest > Lowest: PDI-PAXS-WDI-PHK-GOF-PFN
I hold other monthly income producers but they are either equities, ETF's or mutual funds.

 

[BuckeyesRC]

CEFs in my taxable brokerage from largest to smallest: GOF, PDI, SRV, UTF, PTY, PFN, JRI, KIO, EIC, FSSL, BRW, FTHY, RCS, XFLT, OXLC, GDO, ECC, PDX, KIO, CCIF, DMO, FSCO, OCCI, EARN.

Income ETFs are TSPY, TDAQ, NIHI, and PFFA.

BDC holdings are TRIN, BXSL, OTF, and CSWC.

Some combination of the above is in our Roth accounts, along with DIVO and IDVO.

 

[Flieger]

No changes

Flieger

 

[dickoncapecod]

RCS 80% leverage or a typo?

A typo or a poorly informed machanical calculation. PIMCO discloses 32% leverage. But leverage is 1) generally irrelevant and 2) always strangely computed. For example, for large commercial interests the initial margin on a long bond contract was about $2,000. So every futures contract is (sorta) levered 500%. It's goofy. Presume PIMCO's official disclosure conforms to regs.
Regards, Dick

 

[dickoncapecod]

With some holdings APPEARING to c4awl up into breakout territory and others on weekly MACD buys, I thought it wise to reduce cash to a more manageable level. Largest adds to GOF and RCS with new entry BIZD.
Regards, Dick

 

[YellowSubmarine]

No changes

I own 10 of your 17. My average yield is near 11%

 

[stefansm]

With some holdings APPEARING to c4awl up into breakout territory and others on weekly MACD buys, I thought it wise to reduce cash to a more manageable level. Largest adds to GOF and RCS with new entry BIZD.
Regards, Dick

@dickoncapecod - 2 questions?

Why do you prefer RCS (yield 8.76% and 19.41% premium) vs a fund like PAXS (yield 12.38% and 0.5% premium)? That was puzzling for me... Also, chart wise, PAXS is in an uptrend, above the 52 weeks MA while RCS is way below its MA. What am I missing here?

Your May portfolio is super defensive, with 64% cash. While my tech and fundamentals indicators show a positive picture:
Technically: S&P at an all time high and trending up, on the long term weekly, above 52 weeks MA, HY Spread trending down, below the 52 Ma, Cyclicals/Defensives trending up, reversing the down trend, above the 52 weeks and showing a rotation from Risk Off to Risk On.
Fundamentally, I see the continued claims trending down, which means companies are now hiring more than they are firing.
Charts below.
So, I am wondering, what is the specific data which is worrying you?

 

[Flyfish1]

So, I am wondering, what is the specific data which is worrying you?

I'll echo that sentiment. High cash position going into May. What are your thoughts Dick? Or is this sell in May and go away mentality? Curious.

 

[dickoncapecod]

@dickoncapecod - 2 questions?

Why do you prefer RCS (yield 8.76% and 19.41% premium) vs a fund like PAXS (yield 12.38% and 0.5% premium)? That was puzzling for me... Also, chart wise, PAXS is in an uptrend, above the 52 weeks MA while RCS is way below its MA. What am I missing here?

Your May portfolio is super defensive, with 64% cash. While my tech and fundamentals indicators show a positive picture:
Technically: S&P at an all time high and trending up, on the long term weekly, above 52 weeks MA, HY Spread trending down, below the 52 Ma, Cyclicals/Defensives trending up, reversing the down trend, above the 52 weeks and showing a rotation from Risk Off to Risk On.
Fundamentally, I see the continued claims trending down, which means companies are now hiring more than they are firing.
Charts below.
So, I am wondering, what is the specific data which is worrying you?

View attachment 63334

Hi. On #1, I've always like RCS and it is oversold on this basis: in 2025 TR on NAV was +18.5% while TR on market px was (21.2%). Portfolio earnings have exceeded distributions in '24 and '25. It has a single-A portfolio only because rates take seriously (?) the AA rather than AAA rating of US government/Agency debt. And it will be close or go on a weekly MACD buy signal today. Versus PAXS, I have that too.
A large holding in GOF permits me the "room" in income goals to have some high quality-lower yielding RCS.
#2....with the exception of a tightening high yield spread, your "risk on" indicators are NOT risk on for fixed income exposures.
Bottom line: I like RCS and currently have room for some. If it doesn't perform as expected, I'll sell it.
Regards, Dick
PS. In a bow to your equity-ish risk on indicators, I also bought some BIZD. D

 

[DrVenture]

PDO, PFN, PDI & GOF make up 10% of my total portfolio - in that order. That, and a lot of cash make up my FI allocation for now. I just added to GOF @ $11.31. Placed another limit order even lower.

 

[dickoncapecod]

I'll echo that sentiment. High cash position going into May. What are your thoughts Dick? Or is this sell in May and go away mentality? Curious.

As in my response to stefansm, a strong economy is not a buying environment for bond-ish products....but maybe fir stocks.
Regards, Dick

 

[marget]

@stefansm
@dickoncapecod

PAXS doesn't seem to be on an uptrend. It is building what looks like either a base or a ceiling

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A true uptrend would break the 14.91 mark.
If it's a ceiling then 14.24 & even 13.74 are clear type of marks it will possibly touch.
Even a 6.78% correction at 14.74 would put it at 13.74.

Edit: that was the wrong chart pic

 

[mykes2025]

In April I added to WDI, THQ, BDJ, PDI, AIO, GOF, EOS. CEF's are 9.5% of my equity portfolio. My goal has been to get to 10% so I am close.

CEF	% Value of CEF Basket
DNP	6.0%
AIO	6.6%
BME	9.2%
UTG	6.3%
THQ	6.8%
BST	6.8%
BDJ	6.9%
EOS	5.3%
CSQ	6.0%
ASGI	3.1%
NBXG	6.3%
ERH	5.0%
PDI	12.3%
WDI	7.6%
GOF	5.8%

 

[acksurf]

No changes
PDI 3%
PFN 1%
PAXS 1%

Also have ADX 3%

Covered Call: JEPQ, DIVO, GPIQ (~10% in total)