GM) preferred B shares, which is far higher than the 3.76% to an issue from PPL Corporation ( PPL), which is the second-largest holding. Other than the GM issue the larger weightings in the fund are in the 3% range, with smaller holdings closer to 1% -- which makes the 10% in GM all the more puzzling. The screening methodology combines market-cap weighting of the issues and liquidity and this process allows for GM preferred B to have a 10% weighting. Also surprising is a very narrow definition of financial stocks that appears to be limited to banks. PFXF includes reinsurance companies and various types of REITs, including a couple of positions in mortgage REIT preferred stocks. Preferreds from these companies appear to account for 36% of the fund; 6% reinsurance, 30% REITS.