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FLC

Flaherty & Crumrine Total Return Fund
FLC

45 hedge funds and large institutions have $55.8M invested in Flaherty & Crumrine Total Return Fund in 2025 Q3 according to their latest regulatory filings, with 5 funds opening new positions, 18 increasing their positions, 12 reducing their positions, and 9 closing their positions.

New
Increased
Maintained
Reduced
Closed

50% more repeat investments, than reductions

Existing positions increased: 18 | Existing positions reduced: 12

21% more capital invested

Capital invested by funds: $46.1M → $55.8M (+$9.71M)

3.96% more ownership

Funds ownership: 25.97% → 29.94% (+4%)

8% less funds holding

Funds holding: 49 → 45 (-4)

44% less first-time investments, than exits

New positions opened: 5 | Existing positions closed: 9

Holders
45
Holders Change
-4
Holders Change %
-8.16%
% of All Funds
0.59%
Holding in Top 10
1
Holding in Top 10 Change
+1
Holding in Top 10 Change %
% of All Funds
0.01%
New
5
Increased
18
Reduced
12
Closed
9
Calls
–
Puts
–
Net Calls
–
Net Calls Change
–

Top Buyers

Rank Fund Capital Flow
1
SIA
Sit Investment Associates
Minnesota
+$5.24M
2
AAM
Advisors Asset Management
Colorado
+$917K
3
Fiera Capital (Canada)
Fiera Capital (Canada)
Quebec, Canada
+$568K
4
HWAM
Hennion & Walsh Asset Management
New Jersey
+$411K
5
SMA
Seven Mile Advisory
New Jersey
+$223K

Top Sellers

Rank Fund Capital Flow
1
MC
Matisse Capital
Oregon
-$1.3M
2
RCM
Rivernorth Capital Management
Florida
-$828K
3
AA
AQR Arbitrage
Connecticut
-$400K
4
SA
Strategic Advocates
Utah
-$394K
5
KA
Kovack Advisors
Florida
-$360K
Name Holding Trade Value Shares
Change 		Change in
Stake
Cetera Investment Advisers
26
Cetera Investment Advisers
Illinois
$274K +$63.5K +3,673 +31%
WS
27
Wedbush Securities
California
$268K +$87.3K +5,050 +51%
SMA
28
Seven Mile Advisory
New Jersey
$230K +$223K +12,915 New
Koshinski Asset Management
29
Koshinski Asset Management
Illinois
$224K – – –
CIA
30
Capital Investment Advisors
Georgia
$181K +$176K +10,170 New
Royal Bank of Canada
31
Royal Bank of Canada
Ontario, Canada
$135K -$69.4K -4,016 -35%
UBS Group
32
UBS Group
Switzerland
$127K -$24K -1,391 -16%
PNC Financial Services Group
33
PNC Financial Services Group
Pennsylvania
$94.4K -$91.6K -5,300 -50%
Rockefeller Capital Management
34
Rockefeller Capital Management
New York
$57.3K +$55.6K +3,215 New
Carson Wealth (CWM LLC)
35
Carson Wealth (CWM LLC)
Nebraska
$52K -$8.88K -514 -15%
GWM
36
Geneos Wealth Management
Colorado
$18.1K – – –
SA
37
SRH Advisors
Kansas
$17.8K – – –
BBPWM
38
Blue Bell Private Wealth Management
Pennsylvania
$16.6K – – –
SIS
39
Sound Income Strategies
Florida
$13.7K – – –
NSG
40
Nalls Sherbakoff Group
Tennessee
$8.82K – – –
AAS
41
Ameritas Advisory Services
Nebraska
$8.67K +$69 +4 +0.8%
LC
42
Luminist Capital
Michigan
$7.38K – – –
CWIG
43
Chung Wu Investment Group
Texas
$7.13K – – –
TIM
44
Tortoise Investment Management
New York
$3.14K +$52 +3 +2%
SS
45
Sunbelt Securities
Texas
$2.5K – – –
MC
46
Matisse Capital
Oregon
– -$1.3M -76,304 Closed
RCM
47
Rivernorth Capital Management
Florida
– -$828K -48,682 Closed
KA
48
Kovack Advisors
Florida
– -$360K -21,183 Closed
PFA
49
Pathway Financial Advisers
Indiana
– -$285K -16,785 Closed
LNWWM
50
Laird Norton Wetherby Wealth Management
California
– -$195K -11,464 Closed
1
2
3

FLC Hedge Fund Activity: Q3 2025 in Review

45 of the 7,621 institutional investors tracked by Wall St. Rank reported a position in Flaherty & Crumrine Total Return Fund (FLC) for Q3 2025, worth a combined $55.8M — up 21% from $46.1M a quarter earlier.

Sellers outnumbered buyers: 9 funds closed out of FLC and 5 opened new positions — a net loss of 4 holders — while 12 trimmed existing stakes and 18 added.

The largest buyer was Sit Investment Associates, adding an estimated $5.24M. The largest seller was Matisse Capital, exiting entirely with an estimated $1.3M sold.

  • 45 institutional investors held Flaherty & Crumrine Total Return Fund (FLC) as of Q3 2025, down from 49 in Q2 2025.
  • Funds reported $55.8M of Flaherty & Crumrine Total Return Fund stock for Q3 2025, up 21% quarter-over-quarter.
  • 5 funds opened new Flaherty & Crumrine Total Return Fund positions in Q3 2025 and 9 closed out, a net change of -4 holders.
  • The largest Flaherty & Crumrine Total Return Fund buyer in Q3 2025 was Sit Investment Associates, an estimated $5.24M added.
  • The largest Flaherty & Crumrine Total Return Fund seller in Q3 2025 was Matisse Capital, an estimated $1.3M sold.

Based on aggregated 13F filings for Q3 2025.