PFD β€” FLAHERTY & CRUMRINE PFD INCO

Ownership history in AQR Arbitrage LLC  Β·  10 quarters on record

This page tracks every 13F SEC filing in which AQR Arbitrage LLC reported a position in FLAHERTY & CRUMRINE PFD INCO (PFD). Data includes quarterly share count, position size as % of portfolio, estimated market value, and end-of-quarter stock price β€” sourced directly from SEC EDGAR 13F filings.

πŸ” Peak position
0.05% (2024 Q1)
πŸ“Š Avg. % of fund
0.03%
πŸ“… First filed
2023 Q3
πŸ“… Last filed
2025 Q4
⏱ Quarters held
10

Position Intelligence

AQR Arbitrage LLC Γ— PFD AI Analytics

πŸ“‰ AQR Arbitrage LLC underperformed the S&P 500 by –3.2% annually on this PFD position. Timing score: 50% (4/8 decisions correct). Average cost basis: $8.94. Maximum drawdown during holding period: –4.2%.

πŸ“ˆ Position Alpha vs SPY
-3.2%
annualised excess return

⚠️ Trailed SPY by 3.2% ann. on this position.
8 quarters analyzed

⏱️ Timing Score
50%

➑️ Neutral timing β€” roughly coin-flip accuracy on add/trim calls.
4 of 8 add/trim decisions correct

πŸ’° Entry Quality
$8.94
+31.3% vs current ($11.74)

Best entry: $8.54 (2023 Q4)  Β·  Worst: $9.33 (2024 Q2)

πŸ›‘οΈ Drawdown Resilience
–4.2%
max drawdown while held

πŸ’Ž No drawdown exceeding 20% during the holding period β€” exceptionally stable.

πŸ’ͺ Fund Conviction
40%
buy-side decisions

4 adds Β· 6 trims. Bought during 0 of 1 down-price quarters. πŸ“‰ Predominantly trimming β€” distribution phase.

πŸ“‘ Position Trajectory
β†’ Stable
last 4–5 quarters trend

βš–οΈ Portfolio weight has remained relatively stable β€” conviction maintained.
Currently 0.01% of portfolio

⚠ Based on quarterly 13F SEC filings and end-of-quarter closing prices. Timing score = accuracy of add/trim decisions vs next-quarter price direction. Alpha = mean quarterly excess return Γ— 4 (annualised). Not investment advice.

% of Fund (quarterly)    PFD price (monthly, adj. close)
πŸ“‹ Quarterly Holdings History 10 quarters  β–Ύ
Quarter Action Shares Change Chg % % of Fund Mkt Value Price (EOQ)
2025 Q4 REDUCED 35,599 -25,081 -41.3% 0.01% $423K $11.74
2025 Q3 REDUCED 60,680 -30,341 -33.3% 0.02% $729K $11.67
2025 Q2 REDUCED 91,021 -8,435 -8.5% 0.02% $1.0M $10.81
2025 Q1 REDUCED 99,456 -16,715 -14.4% 0.03% $1.1M $10.54
2024 Q4 REDUCED 116,171 -18,110 -13.5% 0.03% $1.3M $10.39
2024 Q3 REDUCED 134,281 -18,953 -12.4% 0.03% $1.59B $10.84
2024 Q2 ADDED 153,234 +28,567 +22.9% 0.04% $1.60B $9.33
2024 Q1 ADDED 124,667 +26,439 +26.9% 0.05% $1.32B $9.32
2023 Q4 ADDED 98,228 +54,057 +122.4% 0.04% $970.5M $8.54
2023 Q3 INITIATED 44,171 β€” β€” 0.02% $403.3M β€”

🏒 Other funds also holding PFD

As of 2025 Q4 β€” sorted by position size

SIT INVESTMENT ASSOCIATES INC 3Y 7Y 0.28% ROBINSON CAPITAL MANAGEMENT, LLC 3Y 7Y 0.27% Signature Wealth Management Partners, LLC 3Y 0.08% Pathway Financial Advisors LLC 3Y 7Y 0.07% Bridgewealth Advisory Group, LLC 3Y 0.07% O'ROURKE & COMPANY, Inc 3Y 0.06% LongView Wealth Management 0.06% 1607 Capital Partners, LLC 3Y 7Y 0.05% MGO ONE SEVEN LLC 3Y 7Y 0.04% Whipplewood Advisors, LLC 0.03%
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