New Positions
3 managers initiated
Top five by reported value
- Allworth Financial LP$12.6K
- Royal Bank of Canada$2.0K
- US BANCORP \DE\$133
PhenixFIN Corporation 5.25% Notes due 2028 NGM:PFXNZ
Institutional holders, quarter-over-quarter share deltas, and new and closed positions disclosed in Form 13F. Period 2025-12-31 · prior 2025-09-30.
3 new3 added12 reduced0 exited
Total Institutional Holders
18
as of 2025-12-31
Top Holder
Adalta Capital Management LLC
$7.8M
Largest QoQ Increase
Adalta Capital Management LLC
+2,630 sh
Largest QoQ Decrease
MORGAN STANLEY
-2,511 sh
New Positions(3)
| Manager | Shares | Δ Shares | Value | Δ Value | % Δ |
|---|---|---|---|---|---|
| Allworth Financial LP | 286 | +286 | $12.6K | +$12.6K | — |
| Royal Bank of Canada | 50 | +50 | $2.0K | +$2.0K | — |
| US BANCORP \DE\ | 3 | +3 | $133 | +$133 | — |
Added To(3)
| Manager | Shares | Δ Shares | Value | Δ Value | % Δ |
|---|---|---|---|---|---|
| Adalta Capital Management LLC | 175,569 | +2,630 | $7.8M | -$374.2K | 1.5% |
| RAYMOND JAMES FINANCIAL INC | 22,368 | +1,999 | $988.2K | +$18.1K | 9.8% |
| Legal & General Group Plc | 13,093 | +398 | $589.4K | -$15.2K | 3.1% |
Reduced(12)
| Manager | Shares | Δ Shares | Value | Δ Value | % Δ |
|---|---|---|---|---|---|
| 22NW, LP | 117,885 | 0 | $5.2M | -$393.9K | 0.0% |
| MORGAN STANLEY | 55,406 | -2,511 | $2.4M | -$310.5K | -4.3% |
| AMERICAN FINANCIAL GROUP INC | 64,327 | 0 | $2.8M | -$221.6K | 0.0% |
| UBS Group AG | 130 | -1,969 | $5.7K | -$94.2K | -93.8% |
| Bulldog Investors, LLP | 19,218 | 0 | $849.1K | -$66.2K | 0.0% |
| ADVISOR GROUP HOLDINGS, INC. | 400 | -297 | $17.7K | -$16.2K | -42.6% |
| WELLS FARGO & COMPANY/MN | 250 | -11 | $11.1K | -$1.4K | -4.2% |
| Legacy Wealth Managment, LLC/ID | 200 | 0 | $8.8K | -$689 | 0.0% |
| MAI Capital Management | 11 | -11 | $486 | -$562 | -50.0% |
| Archer Investment Corp | 126 | 0 | $5.6K | -$434 | 0.0% |
| BANK OF AMERICA CORP /DE/ | 108 | 0 | $4.8K | -$373 | 0.0% |
| Sound Income Strategies, LLC | 78 | 0 | $3.4K | -$222 | 0.0% |
Top Holders by reported value
Ranked by the dollar value reported on the latest Form 13F. Share counts reflect long positions as of 2025-12-31.
| Manager | Shares | $ Value | Δ Shares | QoQ % |
|---|---|---|---|---|
| Adalta Capital Management LLC | 175,569 | $7.8M | +2,630 | 1.5% |
| 22NW, LP | 117,885 | $5.2M | 0 | 0.0% |
| AMERICAN FINANCIAL GROUP INC | 64,327 | $2.8M | 0 | 0.0% |
| MORGAN STANLEY | 55,406 | $2.4M | -2,511 | -4.3% |
| RAYMOND JAMES FINANCIAL INC | 22,368 | $988.2K | +1,999 | 9.8% |
| Bulldog Investors, LLP | 19,218 | $849.1K | 0 | 0.0% |
| Legal & General Group Plc | 13,093 | $589.4K | +398 | 3.1% |
| ADVISOR GROUP HOLDINGS, INC. | 400 | $17.7K | -297 | -42.6% |
| Allworth Financial LP | 286 | $12.6K | +286 | — |
| WELLS FARGO & COMPANY/MN | 250 | $11.1K | -11 | -4.2% |
| Legacy Wealth Managment, LLC/ID | 200 | $8.8K | 0 | 0.0% |
| UBS Group AG | 130 | $5.7K | -1,969 | -93.8% |
| Archer Investment Corp | 126 | $5.6K | 0 | 0.0% |
| BANK OF AMERICA CORP /DE/ | 108 | $4.8K | 0 | 0.0% |
| Sound Income Strategies, LLC | 78 | $3.4K | 0 | 0.0% |
| Royal Bank of Canada | 50 | $2.0K | +50 | — |
| MAI Capital Management | 11 | $486 | -11 | -50.0% |
| US BANCORP \DE\ | 3 | $133 | +3 | — |
New & Closed Positions this quarter
Closed Positions
0 managers exited
Top five by prior-quarter value
No managers exited their positions this quarter.
Methodology
Form 13F is the SEC's quarterly disclosure for institutional investment managers exercising discretion over $100 million or more in qualifying U.S. equity securities. Managers must file within 45 days of each calendar quarter end, which is why holdings shown here reflect a snapshot at the period date — not real-time positioning.
Quarter-over-quarter deltas compare each manager's most recently reported share count for PFXNZ against its prior-quarter count. New positions are entries where the prior count was zero; closed positions are entries where the current count is zero. Amendments (13F-HR/A) replace prior filings for the same period.
Source: SEC EDGAR Form 13F (XML information tables). Dollar values are as reported by the manager and may use mid-quarter pricing conventions. CUSIP-to-ticker resolution is best-effort.