Vault-13

HIGHLAND OPPORTUNITIES HFRO

HIGHLAND INCOME · Closed-End Fund · CUSIP 43010E404

98 institutional holders -2 vs Q1 2023
24,034,18424.0m shares reported held*
$216.8mreported value*
9 new 37 added 29 reduced 12 sold out net sold ≈ $5.6m (-628.6k shares)

* Summed across managers. Shares that two managers' reports both contain – a subsidiary's holdings that its parent's report includes too, or a sub-adviser's in its client's – are counted once. Holder counts are more reliable. Implied quarter-end price ≈ $9.02.

Trends to Q2 2023

Institutional holders

Managers reporting a position, each quarter

050100150Q3 22: 95Q4 22: 102Q1 23: 100Q2 23: 9898Q3 22Q4 22Q1 23Q2 23
Numbers
QuarterHolders
Q3 202295
Q4 2022102
Q1 2023100
Q2 202398

Buyers vs sellers

Managers adding to or starting a position, vs cutting or selling out

Bought or addedCut or sold out
1000100Q4 22: 52 bought or addedQ4 22: 35 cut or sold outQ4 22Q1 23: 49 bought or addedQ1 23: 42 cut or sold outQ1 23Q2 23: 46 bought or addedQ2 23: 41 cut or sold outQ2 23
Numbers
QuarterBought or addedCut or sold out
Q4 20225235
Q1 20234942
Q2 20234641

Biggest buyers

ENVESTNET ASSET MANAGEMENT INC Added +147,916+147.9k
COMMONWEALTH EQUITY SERVICES, LLC Added +101,839+101.8k
OPPENHEIMER & CO INC Added +83,618+83.6k
Penserra Capital Management LLC Added +51,039+51.0k
Arlington Capital Management, Inc. New +50,703+50.7k
AQR Arbitrage LLC Added +46,226+46.2k
HighTower Advisors, LLC Added +31,824+31.8k
Almitas Capital LLC New +22,078+22.1k
Camelot Portfolios, LLC Added +20,662+20.7k
INTEGRATED CAPITAL MANAGEMENT, INC. New +20,561+20.6k

Biggest sellers

RAYMOND JAMES & ASSOCIATES Reduced -259,269-259.3k
LVZ, Inc. Sold out -173,119-173.1k
Walleye Capital LLC Sold out -131,445-131.4k
Quantedge Capital Pte Ltd Sold out -110,506-110.5k
Bulldog Investors, LLP Reduced -99,704-99.7k
ICON ADVISERS INC/CO Reduced -90,655-90.7k
Invesco Ltd. Reduced -83,933-83.9k
Atlas Wealth LLC Reduced -46,426-46.4k
KNIGHTSBRIDGE ASSET MANAGEMENT, LLC Reduced -45,293-45.3k
Steward Partners Investment Advisory, LLC Reduced -43,132-43.1k

Major shareholders (over 5%)

Anyone who owns more than 5% of a class of the company's shares has to say so: on Schedule 13D if they may try to influence or control the company, on 13G if they're a passive investor, and update it as the stake changes. Each holder's latest filing, from 19 Dec 2024 on; percentages are of the share class, as the holder worked them out.

HolderStakeChangeShares Last filed
Saba Capital Management, L.P. 13D · may seek influence +1.1 pts · filed 2026-06-04
Stated purposeNot Applicable. Full filing
 10.5% +1.1 pts 5.8m≈ $41.3m 2026-06-04
DONDERO JAMES D 13D · may seek influence +1.1 pts · filed 2026-07-29 9.6% +1.1 pts 5.2m≈ $37.2m 2026-07-29
MORGAN STANLEY 13G · institution -1.2 pts · filed 2026-02-11 5.1% -1.2 pts 2.8m≈ $20.1m 2026-02-11
Thomas J. Herzfeld Advisors, Inc. 13G · institution new · filed 2025-10-29 5.0% new 2.8m≈ $19.9m 2025-10-29

Insider purchases and sales in Q2 2023

Shares bought or sold by the company's own officers, directors and 10% owners, in the open market or privately, as they reported to the SEC on Form 4 (due within two business days of the trade). Grants, option exercises, shares withheld for tax and gifts aren't included.

Officers and directors buying vs selling

Number of people, by quarter (10% owners not included)

BuyingSelling
101Q3 21: 0 buyingQ3 21: 0 sellingQ4 21: 0 buyingQ4 21: 0 sellingQ4 21Q1 22: 0 buyingQ1 22: 0 sellingQ2 22: 0 buyingQ2 22: 0 sellingQ2 22Q3 22: 0 buyingQ3 22: 0 sellingQ4 22: 0 buyingQ4 22: 1 sellingQ4 22Q1 23: 0 buyingQ1 23: 0 sellingQ2 23: 0 buyingQ2 23: 0 sellingQ2 23
Numbers
QuarterBuyingBoughtSellingSoldSold under a plan
Q3 20210—0——
Q4 20210—0——
Q1 20220—0——
Q2 20220—0——
Q3 20220—0——
Q4 20220—1$8.6k—
Q1 20230—0——
Q2 20230—0——

None reported in Q2 2023.

Holders, Q2 2023

#ManagerLocationShares Value% of their portfolioChangeShares change
1 MORGAN STANLEY 0.00% of their portfolio NEW YORK, NY 4,429,4464.4m $40.0m $40.0m 0.00% Reduced -32.0k -32,041
2 Thomas J. Herzfeld Advisors, Inc. 10.51% of their portfolio MIAMI BEACH, FL 2,922,0072.9m $26.4m $26.4m 10.51% Reduced -14.6k -14,563
3 ROYAL BANK OF CANADA 0.00% of their portfolio TORONTO, A6 1,853,4721.9m $16.7m $16.7m 0.00% Added +7.2k +7,177
4 LPL Financial LLC 0.01% of their portfolio FORT MILL, SC 1,478,5431.5m $13.4m $13.4m 0.01% Reduced -7.4k -7,384
5 Invesco Ltd. 0.00% of their portfolio ATLANTA, GA 1,307,7041.3m $11.8m $11.8m 0.00% Reduced -83.9k -83,933
6 ENVESTNET ASSET MANAGEMENT INC 0.00% of their portfolio Berwyn, PA 951,528951.5k $8.6m $8.6m 0.00% Added +147.9k +147,916
7 NEXPOINT ASSET MANAGEMENT, L.P. 1.25% of their portfolio Dallas, TX 918,047918.0k $8.3m $8.3m 1.25% Unchanged
8 Atlas Wealth LLC 1.43% of their portfolio CINCINNATI, OH 893,650893.6k $7.7m $7.7m 1.43% Reduced -46.4k -46,426
9 Penserra Capital Management LLC 0.15% of their portfolio ORINDA, CA 818,768818.8k $7.4m $7.4m 0.15% Added +51.0k +51,039
10 OPPENHEIMER & CO INC 0.12% of their portfolio NEW YORK, NY 652,059652.1k $5.9m $5.9m 0.12% Added +83.6k +83,618
11 Cambridge Investment Research Advisors, Inc. 0.02% of their portfolio FAIRFIELD, IA 540,729540.7k $4.9m $4.9m 0.02% Reduced -14.7k -14,741
12 Camelot Portfolios, LLC 3.02% of their portfolio Maumee, OH 533,442533.4k $4.8m $4.8m 3.02% Added +20.7k +20,662
13 COMMONWEALTH EQUITY SERVICES, LLC 0.01% of their portfolio WALTHAM, MA 524,002524.0k $4.7m $4.7m 0.01% Added +101.8k +101,839
14 IHT Wealth Management, LLC 0.23% of their portfolio Chicago, IL 488,834488.8k $4.4m $4.4m 0.23% Added +962 +962
15 WELLS FARGO & COMPANY/MN 0.00% of their portfolio SAN FRANCISCO, CA 476,204476.2k $4.3m $4.3m 0.00% Reduced -14.1k -14,144
16 Geneos Wealth Management Inc. 0.20% of their portfolio ENGLEWOOD, CO 420,944420.9k $3.8m $3.8m 0.20% Added +19.5k +19,496
17 NATIONS FINANCIAL GROUP INC, /IA/ /ADV 0.33% of their portfolio CEDAR RAPIDS, IA 367,516367.5k $3.3m $3.3m 0.33% Reduced -24.8k -24,800
18 Amundi 0.00% of their portfolio Paris, I0 367,181367.2k $3.3m $3.3m 0.00% Unchanged
19 Bulldog Investors, LLP 1.05% of their portfolio SADDLE BROOK, NJ 351,923351.9k $3.2m $3.2m 1.05% Reduced -99.7k -99,704
20 OSAIC HOLDINGS, INC. 0.01% of their portfolio SCOTTSDALE, AZ 322,277322.3k $2.9m $2.9m 0.01% Added +2.6k +2,589
21 BOKF, NA 0.04% of their portfolio TULSA, OK 208,893208.9k $1.9m $1.9m 0.04% Added +2.2k +2,169
22 AQR Arbitrage LLC 0.07% of their portfolio Greenwich, CT 190,528190.5k $1.7m $1.7m 0.07% Added +46.2k +46,226
23 LANDSCAPE CAPITAL MANAGEMENT, L.L.C. 0.23% of their portfolio Englewood, NJ 190,472190.5k $1.7m $1.7m 0.23% Added +6.2k +6,196
24 Aristides Capital LLC 0.88% of their portfolio LOUISVILLE, KY 164,616164.6k $1.5m $1.5m 0.88% Unchanged
25 Matisse Capital 0.90% of their portfolio PORTLAND, OR 160,000160.0k $1.4m $1.4m 0.90% Added +20.0k +20,000
26 ICON ADVISERS INC/CO 0.31% of their portfolio GREENWOOD VILLAGE, CO 136,449136.4k $1.2m $1.2m 0.31% Reduced -90.7k -90,655
27 PARK AVENUE SECURITIES LLC 0.02% of their portfolio NEW YORK, NY 119,404119.4k $1.1m $1.1m 0.02% Added +10.7k +10,732
28 HighTower Advisors, LLC 0.00% of their portfolio CHICAGO, IL 119,393119.4k $1.1m $1.1m 0.00% Added +31.8k +31,824
29 Marks Group Wealth Management, Inc 0.13% of their portfolio MINNETONKA, MN 118,805118.8k $1.1m $1.1m 0.13% Unchanged
30 RAYMOND JAMES & ASSOCIATES 0.00% of their portfolio ST PETERSBURG, FL 110,343110.3k $996.4k $996.4k 0.00% Reduced -259.3k -259,269
31 UBS Group AG 0.00% of their portfolio ZURICH, V8 107,789107.8k $973.3k $973.3k 0.00% Reduced -35.8k -35,825
32 Janney Montgomery Scott LLC 0.00% of their portfolio PHILADELPHIA, PA 102,056102.1k $922.0k $922.0k 0.00% Added +317 +317
33 TRUIST FINANCIAL CORP 0.00% of their portfolio CHARLOTTE, NC 90,59390.6k $818.1k $818.1k 0.00% Reduced -743 -743
34 NWF Advisory Services Inc. 0.19% of their portfolio Los Angeles, CA 90,40090.4k $816.3k $816.3k 0.19% Unchanged
35 Arete Wealth Advisors, LLC 0.07% of their portfolio CHICAGO, IL 89,42089.4k $807.0k $807.0k 0.07% Reduced -913 -913
36 Pinnacle Wealth Planning Services, Inc. 0.13% of their portfolio MANSFIELD, OH 89,15789.2k $805.1k $805.1k 0.13% Reduced -6.5k -6,451
37 Qube Research & Technologies Ltd 0.00% of their portfolio LONDON, X0 83,31983.3k $752.4k $752.4k 0.00% Unchanged
38 Kingsview Wealth Management, LLC 0.03% of their portfolio GRANTS PASS, OR 77,07077.1k $695.9k $695.9k 0.03% Added +4.5k +4,466
39 Baird Financial Group, Inc. 0.00% of their portfolio MILWAUKEE, WI 67,23267.2k $607.1k $607.1k 0.00% Added +14.2k +14,228
40 Wealth Management Solutions, LLC 0.30% of their portfolio EXTON, PA 50,81050.8k $458.8k $458.8k 0.30% Reduced -1.8k -1,820
41 Arlington Capital Management, Inc. 0.40% of their portfolio ARLINGTON HEIGHTS, IL 50,70350.7k $457.8k $457.8k 0.40% New
42 KNIGHTSBRIDGE ASSET MANAGEMENT, LLC 0.14% of their portfolio NEWPORT BEACH, CA 47,72747.7k $431.0k $431.0k 0.14% Reduced -45.3k -45,293
43 MONECO ADVISORS, LLC 0.12% of their portfolio FAIRFIELD, CT 47,23647.2k $426.5k $426.5k 0.12% Reduced -1.6k -1,595
44 CAPTRUST FINANCIAL ADVISORS 0.00% of their portfolio RALEIGH, NC 46,63946.6k $421.1k $421.1k 0.00% Reduced -1.9k -1,916
45 Rockefeller Capital Management L.P. 0.00% of their portfolio NEW YORK, NY 44,72244.7k $403.8k $403.8k 0.00% First filing
46 INDEPENDENT FINANCIAL GROUP, LLC 0.03% of their portfolio SAN DIEGO, CA 43,10743.1k $389.3k $389.3k 0.03% Added +1.4k +1,365
47 Claybrook Capital, LLC 0.19% of their portfolio WELLESLEY, MA 38,85338.9k $350.8k $350.8k 0.19% Added +7.4k +7,400
48 Atria Wealth Solutions, Inc. 0.00% of their portfolio NEW YORK, NY 37,51837.5k $338.8k $338.8k 0.00% Reduced -10.3k -10,288
49 MIdWestOne Financial Group, Inc. 0.07% of their portfolio Iowa City, IA 36,57836.6k $330.3k $330.3k 0.07% Unchanged
50 B. Riley Wealth Advisors, Inc. 0.01% of their portfolio MEMPHIS, TN 35,20835.2k $317.9k $317.9k 0.01% Reduced -1.1k -1,133
51 Steward Partners Investment Advisory, LLC 0.00% of their portfolio STAMFORD, CT 33,91533.9k $306.3k $306.3k 0.00% Reduced -43.1k -43,132
52 RAYMOND JAMES TRUST N.A. 0.01% of their portfolio ST. PETERSBURG, FL 32,66232.7k $295.0k $295.0k 0.01% Added +5.9k +5,912
53 STEPHENS INC /AR/ 0.01% of their portfolio LITTLE ROCK, AR 32,54732.5k $293.9k $293.9k 0.01% Added +250 +250
54 SCOTIA CAPITAL INC. 0.00% of their portfolio TORONTO, A6 31,41831.4k $283.7k $283.7k 0.00% Added +3.3k +3,265
55 MELFA WEALTH MANAGEMENT, INC. 0.28% of their portfolio WESTBOROUGH, MA 30,98931.0k $279.8k $279.8k 0.28% Added +112 +112
56 Cetera Investment Advisers 0.00% of their portfolio SCHAUMBURG, IL 29,88929.9k $269.9k $269.9k 0.00% Reduced -5.1k -5,148
57 AVANTAX ADVISORY SERVICES, INC. 0.00% of their portfolio DALLAS, TX 29,88529.9k $269.9k $269.9k 0.00% Added +2.2k +2,161
58 PREVAIL INNOVATIVE WEALTH ADVISORS, LLC 0.13% of their portfolio LEAWOOD, KS 26,64526.6k $240.6k $240.6k 0.13% First filing
59 Kestra Advisory Services, LLC 0.00% of their portfolio AUSTIN, TX 24,57724.6k $221.9k $221.9k 0.00% Reduced -1.4k -1,360
60 Samalin Investment Counsel, LLC 0.12% of their portfolio CHAPPAQUA, NY 24,40024.4k $220.3k $220.3k 0.12% Added +8.9k +8,937
61 Almitas Capital LLC 0.08% of their portfolio SANTA MONICA, CA 22,07822.1k $187.9k $187.9k 0.08% New
62 CSS LLC/IL 0.02% of their portfolio CHICAGO, IL 22,07222.1k $199.3k $199.3k 0.02% Unchanged
63 Private Advisor Group, LLC 0.00% of their portfolio MORRISTOWN, NJ 21,26121.3k $192.0k $192.0k 0.00% Reduced -794 -794
64 INTEGRATED CAPITAL MANAGEMENT, INC. 0.17% of their portfolio JESSUP, PA 20,56120.6k $185.7k $185.7k 0.17% New
65 Cetera Advisor Networks LLC 0.00% of their portfolio EL SEGUNDO, CA 19,32119.3k $174.5k $174.5k 0.00% Reduced -34.3k -34,260
66 Pekin Hardy Strauss, Inc. 0.03% of their portfolio CHICAGO, IL 17,93317.9k $161.9k $161.9k 0.03% Unchanged
67 One Charles Private Wealth Services, LLC 0.09% of their portfolio HINGHAM, MA 17,24817.2k $155.7k $155.7k 0.09% New
68 Cresset Asset Management, LLC 0.00% of their portfolio Chicago, IL 17,00017.0k $153.5k $153.5k 0.00% Unchanged
69 Keystone Wealth Services, LLC 0.06% of their portfolio PALM DESERT, CA 16,76116.8k $151.4k $151.4k 0.06% Added +429 +429
70 CHANNEL WEALTH LLC 0.09% of their portfolio SANTA BARBARA, CA 16,50516.5k $149.0k $149.0k 0.09% Added +2.3k +2,289
71 MML INVESTORS SERVICES, LLC 0.00% of their portfolio SPRINGFIELD, MA 15,82015.8k $143.0k $143.0k 0.00% Added +1.3k +1,323
72 V Wealth Advisors LLC 0.02% of their portfolio Overland Park, KS 15,79315.8k $142.6k $142.6k 0.02% Reduced -1.1k -1,066
73 Koshinski Asset Management, Inc. 0.01% of their portfolio DECATUR, IL 14,86614.9k $134.2k $134.2k 0.01% Added +3.9k +3,886
74 Beacon Financial Advisory LLC 0.08% of their portfolio CLEVELAND, OH 14,82114.8k $133.8k $133.8k 0.08% Added +543 +543
75 Capital Investment Advisory Services, LLC 0.01% of their portfolio RALEIGH, NC 13,35713.4k $120.6k $120.6k 0.01% Added +68 +68
76 Jackson Wealth Management, LLC 0.02% of their portfolio LAKE MARY, FL 13,23713.2k $120.0k $120.0k 0.02% Unchanged
77 Raymond James Financial Services Advisors, Inc. 0.00% of their portfolio ST. PETERSBURG, FL 11,10211.1k $100.3k $100.3k 0.00% Reduced -12.4k -12,400
78 Spire Wealth Management 0.00% of their portfolio MCLEAN, VA 9,5529.6k $86.3k $86.3k 0.00% Added +33 +33
79 IFP Advisors, Inc 0.00% of their portfolio TAMPA, FL 6,8766.9k $85.5k $85.5k 0.00% Added +3.9k +3,872
80 HUNTINGTON NATIONAL BANK 0.00% of their portfolio COLUMBUS, OH 5,3245.3k $48.1k $48.1k 0.00% New
81 BLUE BELL PRIVATE WEALTH MANAGEMENT, LLC 0.01% of their portfolio BLUE BELL, PA 2,7642.8k $25.0k $25.0k 0.01% Unchanged
82 CREATIVE FINANCIAL DESIGNS INC /ADV 0.00% of their portfolio KOKOMO, IN 2,3632.4k $21.3k $21.3k 0.00% Unchanged
83 BANK OF AMERICA CORP /DE/ 0.00% of their portfolio CHARLOTTE, NC 2,3392.3k $21.1k $21.1k 0.00% Reduced -1.9k -1,896
84 BESSEMER GROUP INC 0.00% of their portfolio WOODBRIDGE, NJ 2,2152.2k $20.0k $20.0k 0.00% Added +555 +555
85 Byrne Asset Management LLC 0.01% of their portfolio KINGSTON, NJ 1,8001.8k $16.0k $16.0k 0.01% Unchanged
86 Princeton Global Asset Management LLC 0.00% of their portfolio PRINCETON, NJ 1,1251.1k $10.2k $10.2k 0.00% Unchanged
87 Raleigh Capital Management Inc. 0.00% of their portfolio CARY, NC 950950 $8.6k $8.6k 0.00% Unchanged
88 Elequin Capital, LP 0.00% of their portfolio NEW YORK, NY 899899 $8.1k $8.1k 0.00% New
89 Farther Finance Advisors, LLC 0.00% of their portfolio SAN FRANCISCO, CA 834834 $7.5k $7.5k 0.00% New
90 JNBA Financial Advisors 0.00% of their portfolio BLOOMINGTON, MN 612612 $5.5k $5.5k 0.00% Added +15 +15
91 AlphaMark Advisors, LLC 0.00% of their portfolio FT. WRIGHT, KY 600600 $5.0k $5.0k 0.00% Unchanged
92 Concord Wealth Partners 0.00% of their portfolio ABINGDON, VA 512512 $4.6k $4.6k 0.00% Added +13 +13
93 Sound Income Strategies, LLC 0.00% of their portfolio FT LAUDERDALE, FL 382382 $3.4k $3.4k 0.00% Unchanged
94 CALDWELL SUTTER CAPITAL, INC. 0.00% of their portfolio SAUSALITO, CA 285285 $2.6k $2.6k 0.00% New
95 Cedar Mountain Advisors, LLC 0.00% of their portfolio LAKE OSWEGO, OR 8282 $740 $740 0.00% Unchanged
96 Coppell Advisory Solutions LLC 0.00% of their portfolio COPPELL, TX 88 $73 $73 0.00% New
97 NewEdge Advisors, LLC 0.00% of their portfolio NEW ORLEANS, LA 77 $65 $65 0.00% Unchanged
98 CONCOURSE FINANCIAL GROUP SECURITIES, INC. 0.00% of their portfolio BIRMINGHAM, AL 00 $0 $0 0.00% Unchanged