Vault-13

FLAHERTY & CRUMRINE PFD INCO PFD

COM · Closed-End Fund · CUSIP 338480106

49 institutional holders -3 vs Q3 2025
3,736,8133.7m shares reported held*
$44.3mreported value*
3 new 17 added 10 reduced 6 sold out net bought ≈ $2.5m (+206.7k 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 ≈ $11.85.

Trends to Q4 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: 50Q2 25: 48Q3 25: 52Q4 25: 4949Q3 22Q2 23Q1 24Q4 24Q4 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
Q2 202548
Q3 202552
Q4 202549

Buyers vs sellers

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

Bought or addedCut or sold out
40040Q1 24: 20 bought or addedQ1 24: 18 cut or sold outQ2 24: 17 bought or addedQ2 24: 21 cut or sold outQ2 24Q3 24: 20 bought or addedQ3 24: 18 cut or sold outQ4 24: 13 bought or addedQ4 24: 20 cut or sold outQ4 24Q1 25: 22 bought or addedQ1 25: 16 cut or sold outQ2 25: 21 bought or addedQ2 25: 14 cut or sold outQ2 25Q3 25: 22 bought or addedQ3 25: 19 cut or sold outQ4 25: 20 bought or addedQ4 25: 16 cut or sold outQ4 25
Numbers
QuarterBought or addedCut or sold out
Q1 20242018
Q2 20241721
Q3 20242018
Q4 20241320
Q1 20252216
Q2 20252114
Q3 20252219
Q4 20252016

Biggest buyers

SIT INVESTMENT ASSOCIATES INC Added +91,962+92.0k
Fiera Capital Corp Added +80,344+80.3k
MORGAN STANLEY Added +37,129+37.1k
LPL Financial LLC Added +22,173+22.2k
1607 Capital Partners, LLC Added +20,400+20.4k
Calamos Advisors LLC Added +16,821+16.8k
Capital Investment Advisors, LLC New +12,592+12.6k
RAYMOND JAMES FINANCIAL INC Added +10,245+10.2k
WELLS FARGO & COMPANY/MN Added +9,810+9.8k
CARY STREET PARTNERS FINANCIAL LLC Added +8,500+8.5k

Biggest sellers

Pathstone Holdings, LLC Sold out -32,487-32.5k
CreativeOne Wealth, LLC Sold out -26,000-26.0k
AQR Arbitrage LLC Reduced -25,081-25.1k
IFP Advisors, Inc Reduced -9,433-9.4k
MGO ONE SEVEN LLC Reduced -4,656-4.7k
Pathway Financial Advisers, LLC Sold out -2,664-2.7k
ROYAL BANK OF CANADA Reduced -2,605-2.6k
Bridgewealth Advisory Group, LLC Reduced -2,143-2.1k
BANK OF AMERICA CORP /DE/ Reduced -1,760-1.8k
GPS Wealth Strategies Group, LLC Sold out -1,250-1.2k

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 Q4 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 Q4 2025.

Holders, Q4 2025

#ManagerLocationShares Value% of their portfolioChangeShares change
1 SIT INVESTMENT ASSOCIATES INC 0.27% of their portfolio Minneapolis, MN 1,176,3561.2m $14.0m $14.0m 0.27% Added +92.0k +91,962
2 CIBC Private Wealth Group LLC 0.01% of their portfolio ATLANTA, GA 441,364441.4k $5.2m $5.2m 0.01% Unchanged
3 MORGAN STANLEY 0.00% of their portfolio NEW YORK, NY 292,438292.4k $3.5m $3.5m 0.00% Added +37.1k +37,129
4 Fiera Capital Corp 0.01% of their portfolio MONTREAL, A8 179,838179.8k $2.1m $2.1m 0.01% Added +80.3k +80,344
5 MGO ONE SEVEN LLC 0.04% of their portfolio Beachwood, OH 163,636163.6k $1.9m $1.9m 0.04% Reduced -4.7k -4,656
6 BANK OF AMERICA CORP /DE/ 0.00% of their portfolio CHARLOTTE, NC 161,268161.3k $1.9m $1.9m 0.00% Reduced -1.8k -1,760
7 UBS Group AG 0.00% of their portfolio ZURICH, V8 122,935122.9k $1.5m $1.5m 0.00% Added +1.0k +1,016
8 Smith Asset Management Co., LLC 0.97% of their portfolio Chiefland, FL 105,918105.9k $1.2m $1.2m 0.97% Reduced -1.1k -1,075
9 LPL Financial LLC 0.00% of their portfolio FORT MILL, SC 89,58089.6k $1.1m $1.1m 0.00% Added +22.2k +22,173
10 UMB Bank, n.a. 0.01% of their portfolio Kansas City, MO 86,37386.4k $1.0m $1.0m 0.01% Unchanged
11 WELLS FARGO & COMPANY/MN 0.00% of their portfolio SAN FRANCISCO, CA 85,73085.7k $1.0m $1.0m 0.00% Added +9.8k +9,810
12 OSAIC HOLDINGS, INC. 0.00% of their portfolio SCOTTSDALE, AZ 83,01183.0k $985.3k $985.3k 0.00% Added +625 +625
13 Calamos Advisors LLC 0.00% of their portfolio NAPERVILLE, IL 69,15969.2k $820.9k $820.9k 0.00% Added +16.8k +16,821
14 Lido Advisors, LLC 0.00% of their portfolio Los Angeles, CA 66,88066.9k $803.9k $803.9k 0.00% Unchanged
15 ROYAL BANK OF CANADA 0.00% of their portfolio TORONTO, A6 58,91258.9k $699.0k $699.0k 0.00% Reduced -2.6k -2,605
16 1607 Capital Partners, LLC 0.05% of their portfolio Richmond, VA 56,60056.6k $671.8k $671.8k 0.05% Added +20.4k +20,400
17 ROBINSON CAPITAL MANAGEMENT, LLC 0.27% of their portfolio GROSSE POINTE FARMS, MI 55,07355.1k $653.7k $653.7k 0.27% Added +65 +65
18 Pathway Financial Advisors LLC 0.07% of their portfolio SOUTH BURLINGTON, VT 48,19648.2k $578.8k $578.8k 0.07% Unchanged
19 RAYMOND JAMES FINANCIAL INC 0.00% of their portfolio ST. PETERSBURG, FL 46,57446.6k $552.8k $552.8k 0.00% Added +10.2k +10,245
20 COMMONWEALTH EQUITY SERVICES, LLC 0.00% of their portfolio WALTHAM, MA 38,99939.0k $462.9k $462.9k 0.00% Added +423 +423
21 AQR Arbitrage LLC 0.01% of their portfolio Greenwich, CT 35,59935.6k $422.6k $422.6k 0.01% Reduced -25.1k -25,081
22 GUGGENHEIM CAPITAL LLC 0.00% of their portfolio CHICAGO, IL 33,03333.0k $392.1k $392.1k 0.00% Reduced -423 -423
23 Bridgewealth Advisory Group, LLC 0.07% of their portfolio Fresno, CA 25,59025.6k $303.8k $303.8k 0.07% Reduced -2.1k -2,143
24 CARY STREET PARTNERS FINANCIAL LLC 0.01% of their portfolio RICHMOND, VA 23,13523.1k $274.6k $274.6k 0.01% Added +8.5k +8,500
25 LongView Wealth Management 0.06% of their portfolio ATLANTA, GA 20,45020.4k $243.2k $243.2k 0.06% Unchanged
26 WEDBUSH SECURITIES INC 0.01% of their portfolio PASADENA, CA 18,50018.5k $220.0k $220.0k 0.01% Unchanged
27 D.A. DAVIDSON & CO. 0.00% of their portfolio GREAT FALLS, MT 16,60016.6k $197.0k $197.0k 0.00% Unchanged
28 Signature Wealth Management Partners, LLC 0.08% of their portfolio MONTVALE, NJ 14,35114.4k $170.3k $170.3k 0.08% Unchanged
29 O'ROURKE & COMPANY, Inc 0.06% of their portfolio BOSTON, MA 13,26013.3k $157.4k $157.4k 0.06% Unchanged
30 CENTAURUS FINANCIAL, INC. 0.01% of their portfolio ANAHEIM, CA 13,04313.0k $155.0k $155.0k 0.01% Unchanged
31 Capital Investment Advisors, LLC 0.00% of their portfolio ATLANTA, GA 12,59212.6k $149.5k $149.5k 0.00% New
32 Cetera Investment Advisers 0.00% of their portfolio SCHAUMBURG, IL 11,57911.6k $137.4k $137.4k 0.00% Added +39 +39
33 BlackRock, Inc. 0.00% of their portfolio New York, NY 11,53311.5k $136.9k $136.9k 0.00% Unchanged
34 WEALTH ENHANCEMENT ADVISORY SERVICES, LLC 0.00% of their portfolio PLYMOUTH, MN 11,06011.1k $132.8k $132.8k 0.00% Unchanged
35 Rockefeller Capital Management L.P. 0.00% of their portfolio NEW YORK, NY 10,27310.3k $121.9k $121.9k 0.00% Added +129 +129
36 COMERICA BANK 0.00% of their portfolio DALLAS, TX 8,7728.8k $104.1k $104.1k 0.00% Added +31 +31
37 Sound Income Strategies, LLC 0.00% of their portfolio FT LAUDERDALE, FL 6,5706.6k $77.7k $77.7k 0.00% Added +35 +35
38 Noble Wealth Management PBC 0.03% of their portfolio GREENWOOD VILLAGE, CO 5,4055.4k $64.2k $64.2k 0.03% Unchanged
39 Farther Finance Advisors, LLC 0.00% of their portfolio SAN FRANCISCO, CA 3,9003.9k $46.3k $46.3k 0.00% Unchanged
40 Whipplewood Advisors, LLC 0.03% of their portfolio LITTLETON, CO 3,6403.6k $43.2k $43.2k 0.03% Reduced -92 -92
41 Pinnacle Wealth Planning Services, Inc. 0.00% of their portfolio MANSFIELD, OH 3,0003.0k $35.6k $35.6k 0.00% New
42 WEBSTER BANK, N. A. 0.00% of their portfolio WATERBURY, CT 2,0002.0k $23.7k $23.7k 0.00% New
43 Allworth Financial LP 0.00% of their portfolio FOLSOM, CA 1,4331.4k $17.0k $17.0k 0.00% Unchanged
44 IFP Advisors, Inc 0.00% of their portfolio TAMPA, FL 1,0001.0k $11.9k $11.9k 0.00% Reduced -9.4k -9,433
45 Steward Partners Investment Advisory, LLC 0.00% of their portfolio STAMFORD, CT 500500 $5.9k $5.9k 0.00% Reduced -250 -250
46 Geneos Wealth Management Inc. 0.00% of their portfolio ENGLEWOOD, CO 360360 $4.3k $4.3k 0.00% Unchanged
47 US BANCORP \DE\ 0.00% of their portfolio MINNEAPOLIS, MN 300300 $3.6k $3.6k 0.00% Unchanged
48 HANTZ FINANCIAL SERVICES, INC. 0.00% of their portfolio SOUTHFIELD, MI 295295 $4.0k $4.0k 0.00% Unchanged
49 Blue Trust, Inc. 0.00% of their portfolio BRENTWOOD, TN 200200 $2.4k $2.4k 0.00% Unchanged