Vault-13

FLAHERTY & CRUMRINE PFD INCO PFO

COM · Closed-End Fund · CUSIP 33848E106

50 institutional holders -2 vs Q1 2026
4,107,5734.1m shares reported held*
$37.9mreported value*
7 new 19 added 12 reduced 8 sold out net sold ≈ $2.6m (-282.9k 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 ≈ $9.24.

Trends to Q2 2026

Institutional holders

Managers reporting a position, each quarter

0204060Q3 22: 43Q4 22: 44Q1 23: 38Q2 23: 38Q3 23: 42Q4 23: 48Q1 24: 44Q2 24: 49Q3 24: 48Q4 24: 45Q1 25: 47Q2 25: 48Q3 25: 45Q4 25: 45Q1 26: 52Q2 26: 5050Q3 22Q3 23Q3 24Q3 25Q2 26
Numbers
QuarterHolders
Q3 202243
Q4 202244
Q1 202338
Q2 202338
Q3 202342
Q4 202348
Q1 202444
Q2 202449
Q3 202448
Q4 202445
Q1 202547
Q2 202548
Q3 202545
Q4 202545
Q1 202652
Q2 202650

Buyers vs sellers

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

Bought or addedCut or sold out
40040Q3 24: 20 bought or addedQ3 24: 24 cut or sold outQ4 24: 17 bought or addedQ4 24: 19 cut or sold outQ4 24Q1 25: 15 bought or addedQ1 25: 15 cut or sold outQ2 25: 24 bought or addedQ2 25: 16 cut or sold outQ2 25Q3 25: 22 bought or addedQ3 25: 21 cut or sold outQ4 25: 17 bought or addedQ4 25: 22 cut or sold outQ4 25Q1 26: 24 bought or addedQ1 26: 22 cut or sold outQ2 26: 26 bought or addedQ2 26: 20 cut or sold outQ2 26
Numbers
QuarterBought or addedCut or sold out
Q3 20242024
Q4 20241719
Q1 20251515
Q2 20252416
Q3 20252221
Q4 20251722
Q1 20262422
Q2 20262620

Biggest buyers

SIT INVESTMENT ASSOCIATES INC Added +199,859+199.9k
Cambridge Investment Research Advisors, Inc. Added +60,619+60.6k
Atlas Wealth LLC New +57,449+57.4k
Arax Advisory Partners Added +49,763+49.8k
Traub Capital Management LLC New +16,759+16.8k
OSAIC HOLDINGS, INC. Added +15,210+15.2k
LPL Financial LLC Added +11,110+11.1k
CITADEL ADVISORS LLC New +11,062+11.1k
Logan Stone Capital, LLC Added +6,480+6.5k
WOLVERINE ASSET MANAGEMENT LLC New +5,416+5.4k

Biggest sellers

Advisors Asset Management, Inc. Sold out -350,620-350.6k
Pathstone Holdings, LLC Reduced -169,257-169.3k
1607 Capital Partners, LLC Reduced -121,402-121.4k
Independent Advisor Alliance Sold out -22,140-22.1k
Invesco Ltd. Sold out -18,471-18.5k
MORGAN STANLEY Reduced -17,153-17.2k
COMMONWEALTH EQUITY SERVICES, LLC Sold out -11,220-11.2k
Private Advisor Group, LLC Reduced -10,716-10.7k
WELLS FARGO & COMPANY/MN Reduced -7,019-7.0k
Basepoint Wealth LLC Reduced -3,550-3.5k

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 +5.1 pts · filed 2026-01-06 10.2% +5.1 pts 1.3m≈ $12.3m 2026-01-06

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

#ManagerLocationShares Value% of their portfolioChangeShares change
1 SIT INVESTMENT ASSOCIATES INC 0.30% of their portfolio Minneapolis, MN 1,720,1651.7m $15.9m $15.9m 0.30% Added +199.9k +199,859
2 CIBC Bancorp USA Inc. 0.01% of their portfolio CHICAGO, IL 588,511588.5k $5.4m $5.4m 0.01% Unchanged
3 1607 Capital Partners, LLC 0.16% of their portfolio Richmond, VA 200,178200.2k $1.8m $1.8m 0.16% Reduced -121.4k -121,402
4 Private Advisor Group, LLC 0.01% of their portfolio MORRISTOWN, NJ 175,625175.6k $1.6m $1.6m 0.01% Reduced -10.7k -10,716
5 Fiera Capital Corp 0.00% of their portfolio MONTREAL, A8 128,673128.7k $1.2m $1.2m 0.00% Added +3.4k +3,413
6 Cambridge Investment Research Advisors, Inc. 0.00% of their portfolio FAIRFIELD, IA 127,930127.9k $1.2m $1.2m 0.00% Added +60.6k +60,619
7 Pathstone Holdings, LLC 0.00% of their portfolio ENGLEWOOD, NJ 101,525101.5k $938.1k $938.1k 0.00% Reduced -169.3k -169,257
8 Noble Wealth Management PBC 0.42% of their portfolio GREENWOOD VILLAGE, CO 100,360100.4k $927.3k $927.3k 0.42% Added +2.9k +2,911
9 Closed-End Fund Advisors, Inc. 0.86% of their portfolio RICHMOND, VA 94,92994.9k $877.1k $877.1k 0.86% Added +196 +196
10 D.A. DAVIDSON & CO. 0.00% of their portfolio GREAT FALLS, MT 89,47489.5k $826.7k $826.7k 0.00% Added +4.2k +4,159
11 MUSTICO FINANCIAL GROUP, INC. 0.49% of their portfolio ELMIRA, NY 83,65283.7k $757.1k $757.1k 0.49% Added +2.2k +2,240
12 MORGAN STANLEY 0.00% of their portfolio NEW YORK, NY 77,67777.7k $717.7k $717.7k 0.00% Reduced -17.2k -17,153
13 Atlas Wealth LLC 0.08% of their portfolio CINCINNATI, OH 57,44957.4k $530.8k $530.8k 0.08% New
14 LPL Financial LLC 0.00% of their portfolio FORT MILL, SC 54,61454.6k $504.6k $504.6k 0.00% Added +11.1k +11,110
15 Arax Advisory Partners 0.00% of their portfolio NEW YORK, NY 54,03854.0k $499.3k $499.3k 0.00% Added +49.8k +49,763
16 Baird Financial Group, Inc. 0.00% of their portfolio MILWAUKEE, WI 41,92841.9k $387.4k $387.4k 0.00% Reduced -576 -576
17 Sowell Financial Services LLC 0.01% of their portfolio NORTH LITTLE ROCK, AR 39,07339.1k $361.0k $361.0k 0.01% Unchanged
18 WELLS FARGO & COMPANY/MN 0.00% of their portfolio SAN FRANCISCO, CA 36,06136.1k $333.2k $333.2k 0.00% Reduced -7.0k -7,019
19 Smith Asset Management Co., LLC 0.22% of their portfolio Chiefland, FL 30,71830.7k $283.8k $283.8k 0.22% Reduced -1.1k -1,100
20 CLIFFORD SWAN INVESTMENT COUNSEL LLC 0.01% of their portfolio PASADENA, CA 29,50029.5k $272.6k $272.6k 0.01% Unchanged
21 GUGGENHEIM CAPITAL LLC 0.00% of their portfolio CHICAGO, IL 25,63625.6k $236.9k $236.9k 0.00% Added +25 +25
22 OSAIC HOLDINGS, INC. 0.00% of their portfolio SCOTTSDALE, AZ 24,39824.4k $225.4k $225.4k 0.00% Added +15.2k +15,210
23 RIVERNORTH CAPITAL MANAGEMENT, LLC 0.01% of their portfolio WEST PALM BEACH, FL 22,53722.5k $208.2k $208.2k 0.01% Added +1.5k +1,494
24 TrueMark Investments, LLC 0.03% of their portfolio CHICAGO, IL 22,53722.5k $208.2k $208.2k 0.03% Added +1.5k +1,494
25 Logan Stone Capital, LLC 0.03% of their portfolio CHICAGO, IL 16,98417.0k $156.9k $156.9k 0.03% Added +6.5k +6,480
26 Traub Capital Management LLC 0.14% of their portfolio NEEDHAM, MA 16,75916.8k $154.9k $154.9k 0.14% New
27 BANK OF AMERICA CORP /DE/ 0.00% of their portfolio CHARLOTTE, NC 14,56414.6k $134.6k $134.6k 0.00% Unchanged
28 Cetera Investment Advisers 0.00% of their portfolio SCHAUMBURG, IL 13,73313.7k $126.9k $126.9k 0.00% Added +2.0k +2,015
29 SUSQUEHANNA INTERNATIONAL GROUP, LLP 0.00% of their portfolio BALA CYNWYD, PA 13,48413.5k $124.6k $124.6k 0.00% Reduced -365 -365
30 JAG CAPITAL MANAGEMENT, LLC 0.01% of their portfolio ST LOUIS, MO 12,70012.7k $117.3k $117.3k 0.01% Unchanged
31 MOSAIC FAMILY WEALTH PARTNERS, LLC 0.01% of their portfolio ST. LOUIS, MO 11,82411.8k $109.3k $109.3k 0.01% Unchanged
32 Clear Creek Financial Management, LLC 0.01% of their portfolio SILVERDALE, WA 11,08011.1k $102.4k $102.4k 0.01% Added +35 +35
33 CITADEL ADVISORS LLC 0.00% of their portfolio MIAMI, FL 11,06211.1k $102.2k $102.2k 0.00% New
34 AlphaCore Capital LLC 0.00% of their portfolio LA JOLLA, CA 10,60010.6k $97.9k $97.9k 0.00% Reduced -2.3k -2,300
35 UBS Group AG 0.00% of their portfolio ZURICH, V8 8,5788.6k $79.3k $79.3k 0.00% Added +2.4k +2,378
36 Basepoint Wealth LLC 0.03% of their portfolio CEDAR RAPIDS, IA 6,3876.4k $59.0k $59.0k 0.03% Reduced -3.5k -3,550
37 ROYAL BANK OF CANADA 0.00% of their portfolio TORONTO, A6 5,4985.5k $51.0k $51.0k 0.00% Added +4.4k +4,416
38 WOLVERINE ASSET MANAGEMENT LLC 0.00% of their portfolio CHICAGO, IL 5,4165.4k $50.0k $50.0k 0.00% New
39 Thomas J. Herzfeld Advisors, Inc. 0.01% of their portfolio MIAMI BEACH, FL 3,6793.7k $34.0k $34.0k 0.01% Reduced -45 -45
40 Paladin Partners, LLC 0.02% of their portfolio HARTLAND, WI 3,2713.3k $30.2k $30.2k 0.02% Unchanged
41 MATHER GROUP, LLC. 0.00% of their portfolio CHICAGO, IL 3,2383.2k $29.9k $29.9k 0.00% Reduced -2.6k -2,649
42 Rockefeller Capital Management L.P. 0.00% of their portfolio NEW YORK, NY 3,0003.0k $27.7k $27.7k 0.00% Unchanged
43 West Branch Capital LLC 0.01% of their portfolio AMHERST, MA 2,4022.4k $22.2k $22.2k 0.01% Added +34 +34
44 FIDUCIARY FINANCIAL ADVISORS 0.00% of their portfolio GRAND RAPIDS, MI 1,7001.7k $15.7k $15.7k 0.00% New
45 Clear Street Group Inc. 0.00% of their portfolio NEW YORK, NY 1,5351.5k $14.2k $14.2k 0.00% New
46 Federation des caisses Desjardins du Quebec 0.00% of their portfolio LEVIS, A8 1,3001.3k $12.0k $12.0k 0.00% Unchanged
47 BLUE BELL PRIVATE WEALTH MANAGEMENT, LLC 0.00% of their portfolio BLUE BELL, PA 597597 $5.5k $5.5k 0.00% Unchanged
48 HARBOUR INVESTMENTS, INC. 0.00% of their portfolio MADISON, WI 400400 $3.7k $3.7k 0.00% Unchanged
49 HIGHLINE WEALTH PARTNERS LLC 0.00% of their portfolio SHERMAN OAKS, CA 310310 $2.9k $2.9k 0.00% Unchanged
50 Integrated Wealth Concepts LLC 0.00% of their portfolio WALTHAM, MA 284284 $2.6k $2.6k 0.00% New