DFP - Flaherty & Crumrine Dynamic Preferred & Income Fund
A closed-end fund run by Flaherty & Crumrine. Invests in preferred shares. Listed on the New York Stock Exchange.
Is anyone targeting this fund?
No - nobody has reported owning 5% or more of this fund.
Is the fund doing anything you need to act on?
Nothing right now.
What this means for you
No investor has reported owning 5% or more of this fund. That is the normal state for most closed-end funds.
Nothing is required of you. If that changes, the notice appears here within a day of being filed with the regulator.
What happened, and when
Nothing on file yet. No large investor has reported a stake in this fund, and the fund has not announced a buy-back, a vote or a closing.
About this fund
- Run by Flaherty & Crumrine Incorporated. Part of the Flaherty & Crumrine fund family. As of Nov 30, 2025, from the fund's yearly report. Original document →
- Size: about $462 million of holdings, as of May 29, 2026. As of May 29, 2026, from the fund's quarterly holdings report. Original document →
- Borrowing: the fund borrows about 38% on top of its own money, as of May 29, 2026. Borrowed money makes gains and losses bigger. As of May 29, 2026, from the fund's quarterly holdings report. Original document →
- Costs: 0.8% a year in management fees; 4.3% a year in total, including interest on borrowed money. Fiscal year ended Nov 30, 2025. As of Nov 30, 2025, from the fund's yearly report. Original document →
- Payouts: last fiscal year (ended Nov 30, 2025) the fund paid $1.44 a share, all of it income. As of Nov 30, 2025, from the fund's annual report. Original document →
- Value of holdings per share at the last fiscal year end (Nov 30, 2025): $22.80. The shares traded at $21.35, about 6.4% below that.
As of Nov 30, 2025, from the fund's yearly report. Original document →
Over the last two years the gap ranged from 13.8% below to 4.1% below. As of Nov 30, 2025, from the fund's annual report. Original document → - How the holdings did: down 3% over the last three months we have (March-May 2026), before the share price is taken into account. Over the last 12 months: +11%. As of May 29, 2026, from the fund's quarterly holdings report. Original document →
- How the holdings did over the fiscal year (ended Nov 30, 2025): the value of the holdings returned +9.3%. How the share price did: the shares returned +11.2% over the same year, counting payouts and the change in the market price. As of Nov 30, 2025, from the fund's annual report. Original document →
- First reported to the regulator in 2012.
+33%-2%
June 2024May 2026
What the fund holds
Mostly bonds (71%), the rest preferred shares and cash and short-term holdings. About 71% issued in the U.S.
- Liberty Mutual Group, Libmut 7.8 03/15/37 144A - 5.1%
- Metlife, Met 9.25 04/08/38 - 4.4%
- Morgan Stanley Depositary Shares of Mongan Stanley, Each Representing A 1/1000TH Interest in A Fixed-To-Floating Rate Non-Cumulative Preferred Stock - 3.7%
- Lloyds Banking Group PLC, Lloyds V8 Perp - 3.6%
- Flagstar Bank Na Depositary Shares, Each Representing A 1/40TH Interest in A Share of Wfixed-To-Floating Rate Series A Noncumulative Perpetual Preferr - 2.8%
- Land O'lakes, Llakes 8 Perp 144A - 2.5%
- PNC Financial Services Group, PNC V6 Perp U - 2.3%
- Provident Financing Trust I, Unm 7.405 03/15/38 - 2.2%
- Citigroup, C V7.625 Perp Aa - 2.2%
- HSBC Holdings PLC, HSBC V6.5 Perp - 2%
Show all 25
- Delphi Financial Group Inc 7.376% Fixed to Float Rate Junior Subordinated Debentures Due 2067 - 1.9%
- Fifth Third Bancorp Depositary Shares Representing A 1/40TH Ownership Interest in A Share of 6.875% Fixed-Rate Reset Non-Cumulative Perpetual Preferre - 1.9%
- Cash and short-term - 1.8%
- Societe Generale SA, Socgen V9.375 Perp 144A - 1.7%
- Banco Santander SA, Santan V4.75 Perp 0000 - 1.7%
- Pinnacle Financial Partners Inc Fixed Rate Reset Non-Cum Perp preferred shares - 1.7%
- BNP Paribas SA, BNP V7.45 Perp 144A - 1.6%
- Athene Holding Ltd 6.35%DEP 1/1000TH Perp Non Cum preferred shares - 1.5%
- Fifth Third Bancorp Depositary Shares, Each Representing A 1/1,000TH Ownership Interest in A Share of Series I Preferred Stock - 1.5%
- Banco Bilbao Vizcaya Argentaria SA, Bbvasm V6.125 Perp - 1.5%
- Regions Financial Corp Depositary Shares Each Representing A 1/40TH Interest in A Share of 5.700% Fixed-To-Floating Rate Non-Cumulative Perpetual preferred shares - 1.5%
- Keycorp Depositary Shares Each Representing A 1/40TH Ownership Interest in A Share of Fixed-To-Floating Rate Perpetual Non-Cumulative Preferred Stock - 1.5%
- Bank of Montreal, Bmo V6.875 11/26/85 6 - 1.3%
- Wells Fargo & Company, Wfc V7.625 Perp - 1.3%
- American International Group, Aig V8.175 05/15/58 - 1.3%
As of May 29, 2026, from the fund's quarterly holdings report. Original document →
Details: all notices, events and fund facts
No notices from large investors on file.
No announcements from the fund on file.
- Run by
- Flaherty & Crumrine Incorporated
- Fund family
- Flaherty & Crumrine
- Exchange
- New York Stock Exchange
- Regulator's file number
- 811-22762
- Auditor
- KPMG LLP
- Fiscal year end
- Nov 30, 2025
- Number of holdings
- 264
- Preferred share classes
- none
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