FLAHERTY & CRUMRINE PFD INCO PFD
COM · Closed-End Fund · CUSIP 338480106
* 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 ≈ $11.63.
Trends to Q2 2026
Institutional holders
Managers reporting a position, each quarter
Numbers
| Quarter | Holders |
|---|---|
| Q3 2022 | 38 |
| Q4 2022 | 41 |
| Q1 2023 | 41 |
| Q2 2023 | 34 |
| Q3 2023 | 42 |
| Q4 2023 | 44 |
| Q1 2024 | 44 |
| Q2 2024 | 47 |
| Q3 2024 | 46 |
| Q4 2024 | 49 |
| Q1 2025 | 50 |
| Q2 2025 | 48 |
| Q3 2025 | 52 |
| Q4 2025 | 49 |
| Q1 2026 | 50 |
| Q2 2026 | 51 |
Buyers vs sellers
Managers adding to or starting a position, vs cutting or selling out
Numbers
| Quarter | Bought or added | Cut or sold out |
|---|---|---|
| Q3 2024 | 20 | 18 |
| Q4 2024 | 13 | 20 |
| Q1 2025 | 22 | 16 |
| Q2 2025 | 21 | 14 |
| Q3 2025 | 22 | 19 |
| Q4 2025 | 20 | 16 |
| Q1 2026 | 21 | 17 |
| Q2 2026 | 19 | 19 |
Biggest buyers
| SIT INVESTMENT ASSOCIATES INC | Added | +142.0k |
| FIDUCIARY FINANCIAL ADVISORS | New | +60.6k |
| Cambridge Investment Research Advisors, Inc. | New | +34.9k |
| CITADEL ADVISORS LLC | New | +16.7k |
| Capital Investment Advisors, LLC | Added | +6.8k |
| Kestra Advisory Services, LLC | Added | +6.6k |
| Clear Street Group Inc. | Added | +6.4k |
| CreativeOne Wealth, LLC | Added | +6.1k |
| Fiera Capital Corp | Added | +5.7k |
| UBS Group AG | Added | +3.3k |
Biggest sellers
| 1607 Capital Partners, LLC | Reduced | -30.4k |
| SUSQUEHANNA INTERNATIONAL GROUP, LLP | Sold out | -15.6k |
| CENTAURUS FINANCIAL, INC. | Sold out | -13.0k |
| ROYAL BANK OF CANADA | Reduced | -6.3k |
| Sound Income Strategies, LLC | Sold out | -6.2k |
| MORGAN STANLEY | Reduced | -5.4k |
| WELLS FARGO & COMPANY/MN | Reduced | -3.0k |
| CARY STREET PARTNERS FINANCIAL LLC | Reduced | -2.7k |
| Beacon Pointe Advisors, LLC | Reduced | -2.6k |
| MGO ONE SEVEN LLC | Reduced | -2.4k |
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.
| Holder | Stake |
|---|---|
| SIT INVESTMENT ASSOCIATES INC 13G · institution +1.9 pts · filed 2026-04-06 | 10.3% |
Insider purchases and sales since 1 Apr 2026
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 since 1 Apr 2026.
Holders, Q2 2026
| Manager | Shares | Change |
|---|---|---|
| SIT INVESTMENT ASSOCIATES INC 0.32% of their portfolio | 1.5m $17.0m | Added +142.0k |
| CIBC Bancorp USA Inc. 0.01% of their portfolio | 441.4k $5.1m | Unchanged |
| MORGAN STANLEY 0.00% of their portfolio | 297.5k $3.5m | Reduced -5.4k |
| Fiera Capital Corp 0.01% of their portfolio | 177.1k $2.1m | Added +5.7k |
| BANK OF AMERICA CORP /DE/ 0.00% of their portfolio | 158.0k $1.8m | Added +329 |
| MGO ONE SEVEN LLC 0.03% of their portfolio | 141.3k $1.6m | Reduced -2.4k |
| UBS Group AG 0.00% of their portfolio | 116.0k $1.3m | Added +3.3k |
| LPL Financial LLC 0.00% of their portfolio | 109.0k $1.3m | Reduced -885 |
| WELLS FARGO & COMPANY/MN 0.00% of their portfolio | 93.1k $1.1m | Reduced -3.0k |
| UMB Bank, n.a. 0.01% of their portfolio | 86.4k $1.0m | Unchanged |
| OSAIC HOLDINGS, INC. 0.00% of their portfolio | 85.4k $993.6k | Reduced -859 |
| Smith Asset Management Co., LLC 0.66% of their portfolio | 72.7k $845.1k | Reduced -1.4k |
| FIDUCIARY FINANCIAL ADVISORS 0.07% of their portfolio | 60.6k $704.6k | New |
| RAYMOND JAMES FINANCIAL INC 0.00% of their portfolio | 58.9k $684.6k | Added +2.7k |
| ROBINSON CAPITAL MANAGEMENT, LLC 0.28% of their portfolio | 55.1k $640.5k | Unchanged |
| 1607 Capital Partners, LLC 0.05% of their portfolio | 49.0k $569.9k | Reduced -30.4k |
| Pathway Financial Advisors LLC 0.06% of their portfolio | 47.0k $544.2k | Reduced -1.2k |
| ROYAL BANK OF CANADA 0.00% of their portfolio | 42.9k $499.0k | Reduced -6.3k |
| Calamos Advisors LLC 0.00% of their portfolio | 41.1k $478.3k | Added +2.7k |
| COMMONWEALTH EQUITY SERVICES, LLC 0.00% of their portfolio | 36.8k $428.3k | Reduced -490 |
| Cambridge Investment Research Advisors, Inc. 0.00% of their portfolio | 34.9k $406.0k | New |
| GUGGENHEIM CAPITAL LLC 0.00% of their portfolio | 33.0k $384.3k | Added +220 |
| Bridgewealth Advisory Group, LLC 0.06% of their portfolio | 25.6k $297.6k | Unchanged |
| CreativeOne Wealth, LLC 0.01% of their portfolio | 23.2k $269.8k | Added +6.1k |
| Capital Investment Advisors, LLC 0.00% of their portfolio | 22.7k $263.4k | Added +6.8k |
| CARY STREET PARTNERS FINANCIAL LLC 0.01% of their portfolio | 20.1k $233.6k | Reduced -2.7k |
| Kestra Advisory Services, LLC 0.00% of their portfolio | 18.0k $209.9k | Added +6.6k |
| Beacon Pointe Advisors, LLC 0.00% of their portfolio | 17.3k $201.2k | Reduced -2.6k |
| WEDBUSH SECURITIES INC 0.01% of their portfolio | 16.8k $195.0k | Reduced -700 |
| CITADEL ADVISORS LLC 0.00% of their portfolio | 16.7k $194.3k | New |
| D.A. DAVIDSON & CO. 0.00% of their portfolio | 16.6k $193.1k | Unchanged |
| LongView Wealth Management 0.05% of their portfolio | 15.3k $178.0k | Reduced -2.4k |
| Signature Wealth Management Partners, LLC 0.08% of their portfolio | 14.4k $166.9k | Unchanged |
| O'ROURKE & COMPANY, Inc 0.06% of their portfolio | 13.7k $159.1k | Unchanged |
| Cetera Investment Advisers 0.00% of their portfolio | 11.7k $135.6k | Added +40 |
| BlackRock, Inc. 0.00% of their portfolio | 11.5k $134.1k | Unchanged |
| WEALTH ENHANCEMENT ADVISORY SERVICES, LLC 0.00% of their portfolio | 11.1k $127.6k | Unchanged |
| Rockefeller Capital Management L.P. 0.00% of their portfolio | 10.5k $122.5k | Added +132 |
| FIFTH THIRD BANCORP 0.00% of their portfolio | 8.8k $102.8k | Added +35 |
| Noble Wealth Management PBC 0.04% of their portfolio | 7.2k $83.2k | Added +802 |
| Clear Street Group Inc. 0.00% of their portfolio | 6.4k $74.7k | Added +6.4k |
| Farther Finance Advisors, LLC 0.00% of their portfolio | 3.9k $45.4k | Unchanged |
| Steward Partners Investment Advisory, LLC 0.00% of their portfolio | 3.5k $41.1k | Unchanged |
| WEBSTER BANK, N. A. 0.00% of their portfolio | 2.0k $23.3k | Unchanged |
| Whipplewood Advisors, LLC 0.01% of their portfolio | 1.5k $17.4k | Reduced -2.1k |
| Allworth Financial LP 0.00% of their portfolio | 1.4k $16.7k | Unchanged |
| CoreCap Advisors, LLC 0.00% of their portfolio | 1.0k $11.6k | New |
| US BANCORP \DE\ 0.00% of their portfolio | 300 $3.5k | Unchanged |
| HIGHLINE WEALTH PARTNERS LLC 0.00% of their portfolio | 250 $2.9k | Unchanged |
| Geneos Wealth Management Inc. 0.00% of their portfolio | 200 $2.3k | Reduced -160 |
| Blue Trust, Inc. 0.00% of their portfolio | 200 $2.3k | Unchanged |