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FC

Flaherty & Crumrine Portfolio holdings

AUM $19.8M
1-Year Est. Return 3.53%
This Fund
S&P 500
This Quarter Est. Return
+0.1%
1 Year Est. Return
-3.53%
3 Year Est. Return
+0.12%
5 Year Est. Return
+3.19%
10 Year Est. Return
–
AUM
$91M
AUM Growth
-$45.9M
Cap. Flow
-$46.3M
Cap. Flow %
-50.88%
Top 10 Hldgs %
100%
Holding
10
New
1
Increased
–
Reduced
7
Closed
2

Top Buys

Rank Stock Value
1
EQC.PRE
EQUITY COMWLTH CUM RED PFD SR E 7.25% (MD)
EQC.PRE
+$5.84M

Top Sells

Rank Stock Value
1
RBS.PRT
ROYAL BANK OF SCOTLAND GRP PLS (THE) SPONS ADR REPSTG PFD
RBS.PRT
+$22.1M
2
BCS.PRA.CL
Barclays Bank Plc Series 3
BCS.PRA.CL
+$7.59M
3
BCS.PRD.CL
Barclays Bank Plc
BCS.PRD.CL
+$6.86M
4
RBS.PRH.CL
Royal Bank Of Scotland Group
RBS.PRH.CL
+$5.4M
5
CWH.PRE
COMMONWEALTH REIT CUM RED PFD SER E (MD)
CWH.PRE
+$5.37M

Sector Composition

Rank Sector Weight
1 Miscellaneous 95.56%
2 Financials 4.44%
Name Market Value Portfolio Weight Shares or Principal Change
in Stake 		Capital Flow
RBS.PRT
1
DELISTED
ROYAL BANK OF SCOTLAND GRP PLS (THE) SPONS ADR REPSTG PFD
RBS.PRT
$32.2M 35.38%
1,275,800
-871,667
-41% -$22.1M
BCS.PRD.CL
2
DELISTED
Barclays Bank Plc
BCS.PRD.CL
$25.2M 27.64%
969,133
-264,792
-21% -$6.86M
BCS.PRA.CL
3
DELISTED
Barclays Bank Plc Series 3
BCS.PRA.CL
$18M 19.76%
698,831
-295,671
-30% -$7.59M
EQC.PRE
4
DELISTED
EQUITY COMWLTH CUM RED PFD SR E 7.25% (MD)
EQC.PRE
$5.85M 6.43%
+229,437
New +$5.84M
CIT
5
DELISTED
CIT Group Inc.
CIT
$4.04M 4.44%
87,960
-32,000
-27% -$1.52M
BCS.PRC
6
DELISTED
BARCLAYS BK PLC SPONSORED ADS SER 4 PREF SHS (UK)
BCS.PRC
$3.05M 3.35%
117,773
-48,537
-29% -$1.25M
RBS.PRS.CL
7
DELISTED
The Royal Bank Of Scotland Group
RBS.PRS.CL
$1.94M 2.13%
78,000
-56,400
-42% -$1.39M
RBS.PRM
8
DELISTED
ROYAL BK SCOTLAND PLC SPONS ADR SER M REPSTG (UK)
RBS.PRM
$796K 0.87%
32,500
-29,500
-48% -$720K
CWH.PRE
9
DELISTED
COMMONWEALTH REIT CUM RED PFD SER E (MD)
CWH.PRE
– –
-210,257
Closed -$5.37M
RBS.PRH.CL
10
DELISTED
Royal Bank Of Scotland Group
RBS.PRH.CL
– –
-213,067
Closed -$5.4M

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FHAM
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EMC
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PAM
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SAM
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IP
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PI
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CIG
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Flaherty & Crumrine's Q3 2014 Portfolio in Review

As of Q3 2014, Flaherty & Crumrine held 10 positions worth $91M, down 34% from $137M the previous quarter. Its ten largest holdings account for 100% of the portfolio.

Flaherty & Crumrine withdrew a net $46.3M in Q3 2014, closing 2 positions and reducing 7 holdings. Its most notable exit was Royal Bank Of Scotland Group, an estimated $5.4M position sold in full.

By sector, the portfolio is most concentrated in Miscellaneous at 96% of assets, down from 96% a quarter earlier, followed by Financials.

Against the trend, Flaherty & Crumrine opened a new position in EQUITY COMWLTH CUM RED PFD SR E 7.25% (MD) worth $5.85M.

  • Flaherty & Crumrine's largest Q3 2014 buy was EQUITY COMWLTH CUM RED PFD SR E 7.25% (MD): 229,437 shares worth $5.85M.
  • Flaherty & Crumrine's biggest Q3 2014 reduction was ROYAL BANK OF SCOTLAND GRP PLS (THE) SPONS ADR REPSTG PFD, cutting an estimated $22.1M.
  • Flaherty & Crumrine fully exited Royal Bank Of Scotland Group in Q3 2014, selling an estimated $5.4M.
  • Flaherty & Crumrine's ten largest holdings make up 100% of its $91M portfolio in Q3 2014.
  • Flaherty & Crumrine opened 1 new position and closed 2 in Q3 2014.
  • Flaherty & Crumrine's portfolio value fell 34% quarter-over-quarter to $91M.

Based on Flaherty & Crumrine's 13F filing for Q3 2014, filed 14 Nov 2014.