Vault-13

FLAHERTY & CRUMRINE PFD INCO PFD

COM · Closed-End Fund · CUSIP 338480106

50 institutional holders +1 vs Q4 2024
2,856,6632.9m shares reported held*
$31.7mreported value*
8 new 14 added 10 reduced 6 sold out net bought ≈ $1.1m (+102.1k shares)

* Summed across managers. Shares that two managers' reports both contain – a subsidiary's holdings that its parent's report includes too, or a sub-adviser's in its client's – are counted once. Holder counts are more reliable. Implied quarter-end price ≈ $11.11.

Trends to Q1 2025

Institutional holders

Managers reporting a position, each quarter

0204060Q3 22: 38Q4 22: 41Q1 23: 41Q2 23: 34Q3 23: 42Q4 23: 44Q1 24: 44Q2 24: 47Q3 24: 46Q4 24: 49Q1 25: 5050Q3 22Q1 23Q3 23Q1 24Q3 24Q1 25
Numbers
QuarterHolders
Q3 202238
Q4 202241
Q1 202341
Q2 202334
Q3 202342
Q4 202344
Q1 202444
Q2 202447
Q3 202446
Q4 202449
Q1 202550

Buyers vs sellers

Managers adding to or starting a position, vs cutting or selling out

Bought or addedCut or sold out
40040Q2 23: 13 bought or addedQ2 23: 16 cut or sold outQ3 23: 25 bought or addedQ3 23: 8 cut or sold outQ3 23Q4 23: 20 bought or addedQ4 23: 19 cut or sold outQ1 24: 20 bought or addedQ1 24: 18 cut or sold outQ1 24Q2 24: 17 bought or addedQ2 24: 21 cut or sold outQ3 24: 20 bought or addedQ3 24: 18 cut or sold outQ3 24Q4 24: 13 bought or addedQ4 24: 20 cut or sold outQ1 25: 22 bought or addedQ1 25: 16 cut or sold outQ1 25
Numbers
QuarterBought or addedCut or sold out
Q2 20231316
Q3 2023258
Q4 20232019
Q1 20242018
Q2 20241721
Q3 20242018
Q4 20241320
Q1 20252216

Biggest buyers

RIVERNORTH CAPITAL MANAGEMENT, LLC New +65,467+65.5k
SIT INVESTMENT ASSOCIATES INC Added +65,113+65.1k
BANK OF AMERICA CORP /DE/ Added +33,682+33.7k
WOLVERINE ASSET MANAGEMENT LLC New +18,635+18.6k
GUGGENHEIM CAPITAL LLC Added +15,526+15.5k
Arlington Capital Management, Inc. New +13,409+13.4k
Pathway Financial Advisors LLC Added +12,819+12.8k
O'ROURKE & COMPANY, Inc New +12,426+12.4k
MORGAN STANLEY Added +8,258+8.3k
Sound Income Strategies, LLC New +6,472+6.5k

Biggest sellers

SFI Advisors, LLC Reduced -33,161-33.2k
Bridgewealth Advisory Group, LLC Sold out -27,733-27.7k
STIFEL FINANCIAL CORP Sold out -27,292-27.3k
AQR Arbitrage LLC Reduced -16,715-16.7k
First National Trust Co Sold out -10,542-10.5k
RAYMOND JAMES FINANCIAL INC Reduced -10,407-10.4k
Ellis Investment Partners, LLC Sold out -10,240-10.2k
UBS Group AG Reduced -8,765-8.8k
Pathway Financial Advisers, LLC Sold out -6,332-6.3k
Lido Advisors, LLC Reduced -6,090-6.1k

Major shareholders (over 5%)

Anyone who owns more than 5% of a class of the company's shares has to say so: on Schedule 13D if they may try to influence or control the company, on 13G if they're a passive investor, and update it as the stake changes. Each holder's latest filing, from 19 Dec 2024 on; percentages are of the share class, as the holder worked them out.

HolderStakeChangeShares Last filed
SIT INVESTMENT ASSOCIATES INC 13G · institution +1.9 pts · filed 2026-04-06 10.3% +1.9 pts 1.3m≈ $15.4m 2026-04-06

Insider purchases and sales in Q1 2025

Shares bought or sold by the company's own officers, directors and 10% owners, in the open market or privately, as they reported to the SEC on Form 4 (due within two business days of the trade). Grants, option exercises, shares withheld for tax and gifts aren't included.

None reported in Q1 2025.

Holders, Q1 2025

#ManagerLocationShares Value% of their portfolioChangeShares change
1 CIBC Private Wealth Group LLC 0.01% of their portfolio ATLANTA, GA 441,364441.4k $4.6m $4.6m 0.01% Unchanged
2 SIT INVESTMENT ASSOCIATES INC 0.11% of their portfolio Minneapolis, MN 420,011420.0k $4.7m $4.7m 0.11% Added +65.1k +65,113
3 MORGAN STANLEY 0.00% of their portfolio NEW YORK, NY 246,225246.2k $2.8m $2.8m 0.00% Added +8.3k +8,258
4 RAYMOND JAMES FINANCIAL INC 0.00% of their portfolio ST. PETERSBURG, FL 170,768170.8k $1.9m $1.9m 0.00% Reduced -10.4k -10,407
5 BANK OF AMERICA CORP /DE/ 0.00% of their portfolio CHARLOTTE, NC 141,545141.5k $1.6m $1.6m 0.00% Added +33.7k +33,682
6 Matisse Capital 0.80% of their portfolio PORTLAND, OR 134,805134.8k $1.5m $1.5m 0.80% Unchanged
7 UBS Group AG 0.00% of their portfolio ZURICH, V8 128,919128.9k $1.4m $1.4m 0.00% Reduced -8.8k -8,765
8 WELLS FARGO & COMPANY/MN 0.00% of their portfolio SAN FRANCISCO, CA 126,186126.2k $1.4m $1.4m 0.00% Reduced -862 -862
9 AQR Arbitrage LLC 0.03% of their portfolio Greenwich, CT 99,45699.5k $1.1m $1.1m 0.03% Reduced -16.7k -16,715
10 ROYAL BANK OF CANADA 0.00% of their portfolio TORONTO, A6 92,68392.7k $1.0m $1.0m 0.00% Reduced -2.1k -2,088
11 UMB Bank, n.a. 0.02% of their portfolio Kansas City, MO 86,37386.4k $969.1k $969.1k 0.02% Unchanged
12 OSAIC HOLDINGS, INC. 0.00% of their portfolio SCOTTSDALE, AZ 83,53883.5k $937.3k $937.3k 0.00% Added +3.5k +3,537
13 Smith Asset Management Co., LLC 0.79% of their portfolio Chiefland, FL 74,88474.9k $840.2k $840.2k 0.79% Reduced -935 -935
14 RIVERNORTH CAPITAL MANAGEMENT, LLC 0.04% of their portfolio WEST PALM BEACH, FL 65,46765.5k $734.5k $734.5k 0.04% New
15 Lido Advisors, LLC 0.00% of their portfolio Los Angeles, CA 64,72464.7k $726.2k $726.2k 0.00% Reduced -6.1k -6,090
16 ROBINSON CAPITAL MANAGEMENT, LLC 0.25% of their portfolio GROSSE POINTE FARMS, MI 55,00855.0k $617.2k $617.2k 0.25% Unchanged
17 LPL Financial LLC 0.00% of their portfolio FORT MILL, SC 44,94144.9k $504.2k $504.2k 0.00% Added +6.5k +6,458
18 CARY STREET PARTNERS FINANCIAL LLC 0.02% of their portfolio RICHMOND, VA 43,50043.5k $488.1k $488.1k 0.02% Added +4.0k +4,000
19 GUGGENHEIM CAPITAL LLC 0.00% of their portfolio CHICAGO, IL 35,81435.8k $401.8k $401.8k 0.00% Added +15.5k +15,526
20 Pathway Financial Advisors LLC 0.06% of their portfolio SOUTH BURLINGTON, VT 29,44629.4k $330.4k $330.4k 0.06% Added +12.8k +12,819
21 LongView Wealth Management 0.08% of their portfolio ATLANTA, GA 22,78022.8k $255.6k $255.6k 0.08% Unchanged
22 WEDBUSH SECURITIES INC 0.01% of their portfolio PASADENA, CA 20,50020.5k $230.0k $230.0k 0.01% Unchanged
23 SFI Advisors, LLC 0.17% of their portfolio Montclair, NJ 20,26720.3k $227.4k $227.4k 0.17% Reduced -33.2k -33,161
24 COMMONWEALTH EQUITY SERVICES, LLC 0.00% of their portfolio WALTHAM, MA 19,24319.2k $216.0k $216.0k 0.00% Added +74 +74
25 WOLVERINE ASSET MANAGEMENT LLC 0.00% of their portfolio CHICAGO, IL 18,63518.6k $209.1k $209.1k 0.00% New
26 D.A. DAVIDSON & CO. 0.00% of their portfolio GREAT FALLS, MT 16,60016.6k $186.3k $186.3k 0.00% Reduced -700 -700
27 Poplar Forest Capital LLC 0.03% of their portfolio PASADENA, CA 15,42515.4k $173.1k $173.1k 0.03% Unchanged
28 IFP Advisors, Inc 0.00% of their portfolio TAMPA, FL 13,42313.4k $150.6k $150.6k 0.00% Reduced -5.3k -5,303
29 Arlington Capital Management, Inc. 0.11% of their portfolio ARLINGTON HEIGHTS, IL 13,40913.4k $150.4k $150.4k 0.11% New
30 CENTAURUS FINANCIAL, INC. 0.01% of their portfolio ANAHEIM, CA 13,04313.0k $146.0k $146.0k 0.01% Unchanged
31 SUSQUEHANNA INTERNATIONAL GROUP, LLP 0.00% of their portfolio BALA CYNWYD, PA 12,53912.5k $140.7k $140.7k 0.00% Added +1.6k +1,560
32 O'ROURKE & COMPANY, Inc 0.07% of their portfolio BOSTON, MA 12,42612.4k $139.4k $139.4k 0.07% New
33 WEALTH ENHANCEMENT ADVISORY SERVICES, LLC 0.00% of their portfolio PLYMOUTH, MN 12,08712.1k $135.6k $135.6k 0.00% Unchanged
34 BlackRock, Inc. 0.00% of their portfolio New York, NY 11,53311.5k $129.4k $129.4k 0.00% Unchanged
35 Cetera Investment Advisers 0.00% of their portfolio SCHAUMBURG, IL 10,82710.8k $121.5k $121.5k 0.00% Added +30 +30
36 BYRNE FINANCIAL FREEDOM, LLC 0.07% of their portfolio FRANKLIN, MA 10,60010.6k $118.9k $118.9k 0.07% Unchanged
37 COMERICA BANK 0.00% of their portfolio DALLAS, TX 8,6818.7k $97.4k $97.4k 0.00% Added +30 +30
38 Sound Income Strategies, LLC 0.00% of their portfolio FT LAUDERDALE, FL 6,4726.5k $72.6k $72.6k 0.00% New
39 Noble Wealth Management PBC 0.03% of their portfolio GREENWOOD VILLAGE, CO 4,2804.3k $48.0k $48.0k 0.03% Added +1.5k +1,500
40 FMR LLC 0.00% of their portfolio BOSTON, MA 1,7091.7k $19.2k $19.2k 0.00% New
41 Elequin Capital, LP 0.00% of their portfolio NEW YORK, NY 1,4741.5k $16.5k $16.5k 0.00% New
42 Allworth Financial LP 0.00% of their portfolio FOLSOM, CA 1,4331.4k $15.6k $15.6k 0.00% Unchanged
43 GPS Wealth Strategies Group, LLC 0.00% of their portfolio CENTENNIAL, CO 1,2501.2k $14.0k $14.0k 0.00% Unchanged
44 Geneos Wealth Management Inc. 0.00% of their portfolio ENGLEWOOD, CO 920920 $10.3k $10.3k 0.00% Added +560 +560
45 Steward Partners Investment Advisory, LLC 0.00% of their portfolio STAMFORD, CT 750750 $8.4k $8.4k 0.00% Unchanged
46 US BANCORP \DE\ 0.00% of their portfolio MINNEAPOLIS, MN 300300 $3.4k $3.4k 0.00% Unchanged
47 Blue Trust, Inc. 0.00% of their portfolio BRENTWOOD, TN 200200 $2.2k $2.2k 0.00% Unchanged
48 Cape Investment Advisory, Inc. 0.00% of their portfolio MCDONOUGH, GA 200200 $2.2k $2.2k 0.00% Unchanged
49 CONCOURSE FINANCIAL GROUP SECURITIES, INC. — of their portfolio BIRMINGHAM, AL 00 $0 $0 — Unchanged
50 CoreCap Advisors, LLC 0.00% of their portfolio SOUTHFIELD, MI 00 $0 $0 0.00% New