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FFC

Flaherty & Crumrine Preferred and Income Securities Fund
FFC

65 hedge funds and large institutions have $83.8M invested in Flaherty & Crumrine Preferred and Income Securities Fund in 2013 Q4 according to their latest regulatory filings, with 12 funds opening new positions, 14 increasing their positions, 26 reducing their positions, and 11 closing their positions.

New
Increased
Maintained
Reduced
Closed

2% more funds holding

Funds holding: 64 → 65 (+1)

9% more first-time investments, than exits

New positions opened: 12 | Existing positions closed: 11

0.01% less ownership

Funds ownership: 10.37% → 10.36% (-0.01%)

3% less capital invested

Capital invested by funds: $86.4M → $83.8M (-$2.6M)

46% less repeat investments, than reductions

Existing positions increased: 14 | Existing positions reduced: 26

Holders
65
Holders Change
+1
Holders Change %
+1.56%
% of All Funds
1.89%
Holding in Top 10
–
Holding in Top 10 Change
–
Holding in Top 10 Change %
–
% of All Funds
–
New
12
Increased
14
Reduced
26
Closed
11
Calls
–
Puts
–
Net Calls
–
Net Calls Change
–

Top Buyers

1
OA
Oxbow Advisors
Texas
+$2.63M
2
MCC
Mid Continent Capital
Illinois
+$2.05M
3
PRCM
Pine River Capital Management
Minnesota
+$1.04M
4
SG Americas Securities
SG Americas Securities
New York
+$782K
5
WAM
Weiss Asset Management
Massachusetts
+$713K

Top Sellers

1
Susquehanna International Group
Susquehanna International Group
Pennsylvania
-$2.44M
2
IH
IFC Holdings
Florida
-$1.95M
3
Bank of America
Bank of America
North Carolina
-$727K
4
Morgan Stanley
Morgan Stanley
New York
-$631K
5
FAAS
First Allied Advisory Services
California
-$610K
Name Holding Trade Value Shares
Change 		Change in
Stake
LWM
51
Lenox Wealth Management
Ohio
$34K +$34.5K +1,950 New
GGPS
52
Gary Goldberg Planning Services
New York
$33K -$17.7K -1,000 -34%
Citigroup
53
Citigroup
New York
$32K +$7.11K +402 +28%
CAPTRUST Financial Advisors
54
CAPTRUST Financial Advisors
North Carolina
$31K – – –
CFN
55
Cordasco Financial Network
Florida
$23K +$23.5K +1,330 New
HF
56
Hoxton Financial
West Virginia
$18K – – –
CFA
57
Carroll Financial Associates
North Carolina
$14K – – –
DADC
58
D.A. Davidson & Co
Montana
$10K -$10.6K -600 -49%
M&T Bank
59
M&T Bank
New York
$9K – – –
GT
60
Greenleaf Trust
Michigan
$6K – – –
OSNBOA
61
Old Second National Bank of Aurora
Illinois
$6K – – –
US Bancorp
62
US Bancorp
Minnesota
$3K -$26.5K -1,500 -90%
Northwestern Mutual Wealth Management
63
Northwestern Mutual Wealth Management
Wisconsin
$2K -$211K -11,920 -99%
FAM
64
Formidable Asset Management
Ohio
$2K – – –
TRCT
65
Tower Research Capital (TRC)
New York
$1K -$52.1K -2,946 -98%
Susquehanna International Group
66
Susquehanna International Group
Pennsylvania
– -$2.44M -135,498 Closed
IH
67
IFC Holdings
Florida
– -$1.95M -107,586 Closed
FAAS
68
First Allied Advisory Services
California
– -$610K -33,491 Closed
Comerica Bank
69
Comerica Bank
Texas
– -$270K -15,000 Closed
WS
70
Wedbush Securities
California
– -$203K -11,245 Closed
Ameriprise
71
Ameriprise
Minnesota
– -$154K -8,567 Closed
USGIU
72
U.S. Global Investors (USGI)
Texas
– -$90K -5,000 Closed
SSB
73
Sandy Spring Bank
Maryland
– -$20K -1,108 Closed
FANJ
74
Financial Architects (New Jersey)
New Jersey
– -$17K -921 Closed
MFS
75
MSI Financial Services
Massachusetts
– -$13K -725 Closed
1 2
3
4

FFC Hedge Fund Activity: Q4 2013 in Review

65 of the 3,445 institutional investors tracked by Wall St. Rank reported a position in Flaherty & Crumrine Preferred and Income Securities Fund (FFC) for Q4 2013, worth a combined $83.8M — down 3% from $86.4M a quarter earlier.

Buyers outnumbered sellers: 12 funds opened new FFC positions and 11 closed out — a net gain of 1 holder — while 14 added to existing stakes and 26 trimmed.

The largest buyer was Oxbow Advisors, adding an estimated $2.63M. The largest seller was Susquehanna International Group, exiting entirely with an estimated $2.44M sold.

  • 65 institutional investors held Flaherty & Crumrine Preferred and Income Securities Fund (FFC) as of Q4 2013, up from 64 in Q3 2013.
  • Funds reported $83.8M of Flaherty & Crumrine Preferred and Income Securities Fund stock for Q4 2013, down 3% quarter-over-quarter.
  • 12 funds opened new Flaherty & Crumrine Preferred and Income Securities Fund positions in Q4 2013 and 11 closed out, a net change of +1 holder.
  • The largest Flaherty & Crumrine Preferred and Income Securities Fund buyer in Q4 2013 was Oxbow Advisors, an estimated $2.63M added.
  • The largest Flaherty & Crumrine Preferred and Income Securities Fund seller in Q4 2013 was Susquehanna International Group, an estimated $2.44M sold.

Based on aggregated 13F filings for Q4 2013.