Top 10 Income Holdings Update (June 2026)

The top 10 listed below yield an average of 9.7%, let’s jump straight in…

QQQI and GPIX: Covered Call Leaders

#1 QQQI continues to be one of my favorite income investments. The fund currently yields more than 13% while providing relatively consistent monthly distributions. However, a new development has emerged: Goldman Sachs' competing fund, GPIQ, has recently pulled ahead in total return.

Its sister fund, #2 GPIX, has also performed well. While NEOS funds such as QQQI and SPYI may hold up better during corrections, Goldman’s approach appears to be benefiting from the current bullish market environment.

For now, I’m watching closely but not making major changes. Tax consequences and long-term performance matter more than a few months of outperformance.

GPIX has recently benefited from strong market conditions and remains one of Goldman Sachs' strongest income offerings.

CEFS and International Diversification

#3 CEFS remains one of the portfolio's most diversified holdings. After growing to roughly 6% of the portfolio, I trimmed the position back toward my 5% allocation target.

One reason I continue to like CEFS is its combination of steady income and occasional special distributions. SABA's activist strategy of purchasing discounted closed-end funds has continued to add value, particularly through successful positions in technology-focused funds.

CEFS has delivered strong long-term performance while maintaining a consistent income stream.

International exposure remains important as well. #4 IDVO and #6 NIHI provide access to companies, currencies, and regions outside the United States. Both funds offer diversification benefits that many income investors overlook.

Preferred Shares and BDCs

#5 PFFA continues to serve as the portfolio's preferred-share allocation. The fund provides exposure to more than 180 preferred securities while maintaining a yield near 10%.

In the Business Development Company (BDC) asset class, #7 ARCC remains a cornerstone holding. Despite concerns surrounding private credit and interest rates, ARCC has demonstrated remarkable resilience over multiple economic cycles. For investors seeking broader BDC diversification, #8 PBDC remains an attractive alternative.

ARCC has maintained a long history of reliable income while outperforming many traditional income investments.

KGLD and QDVO Round Out the Top 10

#9 KGLD is the newest addition to the Top 10. Gold traditionally produced no income, but option-based strategies now allow investors to receive monthly cash flow while maintaining exposure to precious metals. Although distributions can fluctuate, KGLD has performed well enough to earn a larger allocation.

#10 QDVO rounds out the list. This actively managed technology income fund has generated attractive returns since inception and continues to compete well against larger Nasdaq-focused covered call funds.

QDVO has steadily increased distributions while maintaining competitive total returns.

Final Thoughts

Current yield snapshot across all 10 holdings, highlighting a diversified income portfolio averaging 9.7%.

My Top 10 holdings are not intended as a model portfolio for everyone, but they work for me. Instead, they represent a collection of ideas from which you may find some ideas that work for you. The individual allocations generally remain between 4% and 5%, with another 26 smaller positions providing additional diversification.

The goal remains unchanged: generate consistent and sustainable income that exceeds my expenses, then reinvest what’s leftover to grow future income. 

To learn more, click here for the full Review.

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