Vault-13

HIGHLAND OPPORTUNITIES HFRO

HIGHLAND INCOME · Closed-End Fund · CUSIP 43010E404

107 institutional holders +9 vs Q2 2023
24,748,34824.7m shares reported held*
$198.7mreported value*
14 new 40 added 26 reduced 7 sold out net bought ≈ $5.4m (+673.7k 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 ≈ $8.03.

Trends to Q3 2023

Institutional holders

Managers reporting a position, each quarter

050100150Q3 22: 95Q4 22: 102Q1 23: 100Q2 23: 98Q3 23: 107107Q3 22Q4 22Q1 23Q2 23Q3 23
Numbers
QuarterHolders
Q3 202295
Q4 2022102
Q1 2023100
Q2 202398
Q3 2023107

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 23Q3 23: 54 bought or addedQ3 23: 33 cut or sold outQ3 23
Numbers
QuarterBought or addedCut or sold out
Q4 20225235
Q1 20234942
Q2 20234641
Q3 20235433

Biggest buyers

RAYMOND JAMES & ASSOCIATES Added +354,383+354.4k
HighTower Advisors, LLC Added +205,484+205.5k
Penserra Capital Management LLC Added +97,440+97.4k
OSAIC HOLDINGS, INC. Added +97,398+97.4k
LANDSCAPE CAPITAL MANAGEMENT, L.L.C. Added +89,234+89.2k
ROYAL BANK OF CANADA Added +57,693+57.7k
ICON ADVISERS INC/CO Added +35,984+36.0k
PREVAIL INNOVATIVE WEALTH ADVISORS, LLC Added +31,543+31.5k
JANE STREET GROUP, LLC New +28,898+28.9k
SFI Advisors, LLC New +26,340+26.3k

Biggest sellers

Camelot Portfolios, LLC Reduced -154,233-154.2k
UBS Group AG Reduced -78,219-78.2k
Pinnacle Wealth Planning Services, Inc. Reduced -76,657-76.7k
Invesco Ltd. Reduced -52,560-52.6k
Thomas J. Herzfeld Advisors, Inc. Reduced -50,336-50.3k
MIdWestOne Financial Group, Inc. Sold out -36,578-36.6k
Almitas Capital LLC Sold out -22,078-22.1k
V Wealth Advisors LLC Sold out -15,793-15.8k
Geneos Wealth Management Inc. Reduced -14,641-14.6k
Atlas Wealth LLC Reduced -13,684-13.7k

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 Q3 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
101Q4 21: 0 buyingQ4 21: 0 sellingQ1 22: 0 buyingQ1 22: 0 sellingQ1 22Q2 22: 0 buyingQ2 22: 0 sellingQ3 22: 0 buyingQ3 22: 0 sellingQ3 22Q4 22: 0 buyingQ4 22: 1 sellingQ1 23: 0 buyingQ1 23: 0 sellingQ1 23Q2 23: 0 buyingQ2 23: 0 sellingQ3 23: 0 buyingQ3 23: 0 sellingQ3 23
Numbers
QuarterBuyingBoughtSellingSoldSold under a plan
Q4 20210—0——
Q1 20220—0——
Q2 20220—0——
Q3 20220—0——
Q4 20220—1$8.6k—
Q1 20230—0——
Q2 20230—0——
Q3 20230—0——

None reported in Q3 2023.

Holders, Q3 2023

#ManagerLocationShares Value% of their portfolioChangeShares change
1 MORGAN STANLEY 0.00% of their portfolio NEW YORK, NY 4,419,8444.4m $35.5m $35.5m 0.00% Reduced -9.6k -9,602
2 Thomas J. Herzfeld Advisors, Inc. 8.92% of their portfolio MIAMI BEACH, FL 2,871,6712.9m $23.1m $23.1m 8.92% Reduced -50.3k -50,336
3 ROYAL BANK OF CANADA 0.00% of their portfolio TORONTO, A6 1,911,1651.9m $15.4m $15.4m 0.00% Added +57.7k +57,693
4 LPL Financial LLC 0.01% of their portfolio FORT MILL, SC 1,488,5731.5m $12.0m $12.0m 0.01% Added +10.0k +10,030
5 Invesco Ltd. 0.00% of their portfolio ATLANTA, GA 1,255,1441.3m $10.1m $10.1m 0.00% Reduced -52.6k -52,560
6 ENVESTNET ASSET MANAGEMENT INC 0.00% of their portfolio Berwyn, PA 960,905960.9k $7.7m $7.7m 0.00% Added +9.4k +9,377
7 NEXPOINT ASSET MANAGEMENT, L.P. 1.04% of their portfolio Dallas, TX 918,047918.0k $7.4m $7.4m 1.04% Unchanged
8 Penserra Capital Management LLC 0.15% of their portfolio ORINDA, CA 916,208916.2k $7.4m $7.4m 0.15% Added +97.4k +97,440
9 Atlas Wealth LLC 1.32% of their portfolio CINCINNATI, OH 879,966880.0k $7.1m $7.1m 1.32% Reduced -13.7k -13,684
10 OPPENHEIMER & CO INC 0.11% of their portfolio NEW YORK, NY 672,404672.4k $5.4m $5.4m 0.11% Added +20.3k +20,345
11 COMMONWEALTH EQUITY SERVICES, LLC 0.01% of their portfolio WALTHAM, MA 536,754536.8k $4.3m $4.3m 0.01% Added +12.8k +12,752
12 Cambridge Investment Research Advisors, Inc. 0.02% of their portfolio FAIRFIELD, IA 535,964536.0k $4.3m $4.3m 0.02% Reduced -4.8k -4,765
13 IHT Wealth Management, LLC 0.20% of their portfolio Chicago, IL 499,210499.2k $4.0m $4.0m 0.20% Added +10.4k +10,376
14 WELLS FARGO & COMPANY/MN 0.00% of their portfolio SAN FRANCISCO, CA 479,999480.0k $3.9m $3.9m 0.00% Added +3.8k +3,795
15 RAYMOND JAMES & ASSOCIATES 0.00% of their portfolio ST PETERSBURG, FL 464,726464.7k $3.7m $3.7m 0.00% Added +354.4k +354,383
16 OSAIC HOLDINGS, INC. 0.00% of their portfolio SCOTTSDALE, AZ 419,675419.7k $3.4m $3.4m 0.00% Added +97.4k +97,398
17 Geneos Wealth Management Inc. 0.17% of their portfolio ENGLEWOOD, CO 406,303406.3k $3.3m $3.3m 0.17% Reduced -14.6k -14,641
18 Camelot Portfolios, LLC 2.92% of their portfolio Maumee, OH 379,209379.2k $3.0m $3.0m 2.92% Reduced -154.2k -154,233
19 NATIONS FINANCIAL GROUP INC, /IA/ /ADV 0.30% of their portfolio CEDAR RAPIDS, IA 375,530375.5k $3.0m $3.0m 0.30% Added +8.0k +8,014
20 Amundi 0.00% of their portfolio Paris, I0 367,181367.2k $2.8m $2.8m 0.00% Unchanged
21 Bulldog Investors, LLP 0.98% of their portfolio SADDLE BROOK, NJ 351,923351.9k $2.8m $2.8m 0.98% Unchanged
22 HighTower Advisors, LLC 0.00% of their portfolio CHICAGO, IL 324,877324.9k $2.6m $2.6m 0.00% Added +205.5k +205,484
23 LANDSCAPE CAPITAL MANAGEMENT, L.L.C. 0.30% of their portfolio Englewood, NJ 279,706279.7k $2.2m $2.2m 0.30% Added +89.2k +89,234
24 BOKF, NA 0.03% of their portfolio TULSA, OK 204,628204.6k $1.5m $1.5m 0.03% Reduced -4.3k -4,265
25 AQR Arbitrage LLC 0.07% of their portfolio Greenwich, CT 190,528190.5k $1.5m $1.5m 0.07% Unchanged
26 ICON ADVISERS INC/CO 0.34% of their portfolio GREENWOOD VILLAGE, CO 172,433172.4k $1.4m $1.4m 0.34% Added +36.0k +35,984
27 Matisse Capital 0.96% of their portfolio PORTLAND, OR 170,000170.0k $1.4m $1.4m 0.96% Added +10.0k +10,000
28 Aristides Capital LLC 0.88% of their portfolio LOUISVILLE, KY 164,616164.6k $1.3m $1.3m 0.88% Unchanged
29 PARK AVENUE SECURITIES LLC 0.02% of their portfolio NEW YORK, NY 130,420130.4k $1.0m $1.0m 0.02% Added +11.0k +11,016
30 Marks Group Wealth Management, Inc 0.12% of their portfolio MINNETONKA, MN 118,805118.8k $955.2k $955.2k 0.12% Unchanged
31 Janney Montgomery Scott LLC 0.00% of their portfolio PHILADELPHIA, PA 96,56096.6k $776.0k $776.0k 0.00% Reduced -5.5k -5,496
32 Arete Wealth Advisors, LLC 0.13% of their portfolio CHICAGO, IL 94,56094.6k $760.4k $760.4k 0.13% Added +5.1k +5,140
33 TRUIST FINANCIAL CORP 0.00% of their portfolio CHARLOTTE, NC 91,19891.2k $733.2k $733.2k 0.00% Added +605 +605
34 NWF Advisory Services Inc. 0.17% of their portfolio Los Angeles, CA 89,10089.1k $716.4k $716.4k 0.17% Reduced -1.3k -1,300
35 Kingsview Wealth Management, LLC 0.02% of their portfolio GRANTS PASS, OR 86,13786.1k $692.5k $692.5k 0.02% Added +9.1k +9,067
36 Qube Research & Technologies Ltd 0.00% of their portfolio LONDON, X0 84,17984.2k $676.8k $676.8k 0.00% Added +860 +860
37 Baird Financial Group, Inc. 0.00% of their portfolio MILWAUKEE, WI 68,41468.4k $550.0k $550.0k 0.00% Added +1.2k +1,182
38 PREVAIL INNOVATIVE WEALTH ADVISORS, LLC 0.24% of their portfolio LEAWOOD, KS 58,18858.2k $467.8k $467.8k 0.24% Added +31.5k +31,543
39 Arlington Capital Management, Inc. 0.43% of their portfolio ARLINGTON HEIGHTS, IL 51,26151.3k $412.1k $412.1k 0.43% Added +558 +558
40 Wealth Management Solutions, LLC 0.28% of their portfolio EXTON, PA 51,03551.0k $410.3k $410.3k 0.28% Added +225 +225
41 KNIGHTSBRIDGE ASSET MANAGEMENT, LLC 0.12% of their portfolio NEWPORT BEACH, CA 49,07449.1k $395.0k $395.0k 0.12% Added +1.3k +1,347
42 MONECO ADVISORS, LLC 0.10% of their portfolio FAIRFIELD, CT 44,91144.9k $361.1k $361.1k 0.10% Reduced -2.3k -2,325
43 Rockefeller Capital Management L.P. 0.00% of their portfolio NEW YORK, NY 44,90444.9k $361.0k $361.0k 0.00% Added +182 +182
44 INDEPENDENT FINANCIAL GROUP, LLC 0.02% of their portfolio SAN DIEGO, CA 39,54339.5k $317.9k $317.9k 0.02% Reduced -3.6k -3,564
45 Claybrook Capital, LLC 0.18% of their portfolio WELLESLEY, MA 38,85338.9k $312.4k $312.4k 0.18% Unchanged
46 Cetera Investment Advisers 0.00% of their portfolio SCHAUMBURG, IL 37,31037.3k $300.0k $300.0k 0.00% Added +7.4k +7,421
47 SCOTIA CAPITAL INC. 0.00% of their portfolio TORONTO, A6 36,32236.3k $292.1k $292.1k 0.00% Added +4.9k +4,904
48 CAPTRUST FINANCIAL ADVISORS 0.00% of their portfolio RALEIGH, NC 34,60134.6k $278.2k $278.2k 0.00% Reduced -12.0k -12,038
49 B. Riley Wealth Advisors, Inc. 0.01% of their portfolio MEMPHIS, TN 33,20833.2k $267.0k $267.0k 0.01% Reduced -2.0k -2,000
50 Samalin Investment Counsel, LLC 0.15% of their portfolio CHAPPAQUA, NY 32,95133.0k $264.9k $264.9k 0.15% Added +8.6k +8,551
51 RAYMOND JAMES TRUST N.A. 0.01% of their portfolio ST. PETERSBURG, FL 32,66232.7k $262.6k $262.6k 0.01% Unchanged
52 STEPHENS INC /AR/ 0.00% of their portfolio LITTLE ROCK, AR 32,08632.1k $258.0k $258.0k 0.00% Reduced -461 -461
53 MELFA WEALTH MANAGEMENT, INC. 0.28% of their portfolio WESTBOROUGH, MA 31,77131.8k $255.4k $255.4k 0.28% Added +782 +782
54 AVANTAX ADVISORY SERVICES, INC. 0.00% of their portfolio DALLAS, TX 31,18231.2k $250.7k $250.7k 0.00% Added +1.3k +1,297
55 Envestnet Portfolio Solutions, Inc. 0.00% of their portfolio BERWYN, PA 30,94830.9k $248.8k $248.8k 0.00% First filing
56 UBS Group AG 0.00% of their portfolio ZURICH, V8 29,57029.6k $237.7k $237.7k 0.00% Reduced -78.2k -78,219
57 JANE STREET GROUP, LLC 0.00% of their portfolio NEW YORK, NY 28,89828.9k $232.3k $232.3k 0.00% New
58 SFI Advisors, LLC 0.21% of their portfolio Montclair, NJ 26,34026.3k $211.8k $211.8k 0.21% New
59 Atria Wealth Solutions, Inc. 0.00% of their portfolio NEW YORK, NY 26,32526.3k $211.7k $211.7k 0.00% Reduced -11.2k -11,193
60 Kestra Advisory Services, LLC 0.00% of their portfolio AUSTIN, TX 25,15025.1k $202.2k $202.2k 0.00% Added +573 +573
61 Steward Partners Investment Advisory, LLC 0.00% of their portfolio STAMFORD, CT 24,99125.0k $200.9k $200.9k 0.00% Reduced -8.9k -8,924
62 CSS LLC/IL 0.01% of their portfolio CHICAGO, IL 22,07222.1k $177.5k $177.5k 0.01% Unchanged
63 INTEGRATED CAPITAL MANAGEMENT, INC. 0.15% of their portfolio JESSUP, PA 21,70421.7k $174.5k $174.5k 0.15% Added +1.1k +1,143
64 Private Advisor Group, LLC 0.00% of their portfolio MORRISTOWN, NJ 20,86320.9k $167.7k $167.7k 0.00% Reduced -398 -398
65 AEGON USA Investment Management, LLC 0.11% of their portfolio CEDAR RAPIDS, IA 18,17218.2k $146.1k $146.1k 0.11% New
66 Pekin Hardy Strauss, Inc. 0.02% of their portfolio CHICAGO, IL 17,93317.9k $144.2k $144.2k 0.02% Unchanged
67 Cetera Advisor Networks LLC 0.00% of their portfolio EL SEGUNDO, CA 17,72417.7k $142.5k $142.5k 0.00% Reduced -1.6k -1,597
68 One Charles Private Wealth Services, LLC 0.08% of their portfolio HINGHAM, MA 17,24817.2k $138.7k $138.7k 0.08% Unchanged
69 Keystone Wealth Services, LLC 0.05% of their portfolio PALM DESERT, CA 17,21717.2k $138.4k $138.4k 0.05% Added +456 +456
70 Cresset Asset Management, LLC 0.00% of their portfolio Chicago, IL 17,00017.0k $136.7k $136.7k 0.00% Unchanged
71 CHANNEL WEALTH LLC 0.07% of their portfolio SANTA BARBARA, CA 16,50516.5k $132.7k $132.7k 0.07% Unchanged
72 MML INVESTORS SERVICES, LLC 0.00% of their portfolio SPRINGFIELD, MA 15,97816.0k $128.0k $128.0k 0.00% Added +158 +158
73 Beacon Financial Advisory LLC 0.07% of their portfolio CLEVELAND, OH 15,07215.1k $121.2k $121.2k 0.07% Added +251 +251
74 Verition Fund Management LLC 0.00% of their portfolio GREENWICH, CT 15,00015.0k $120.6k $120.6k 0.00% New
75 Sovereign Financial Group, Inc. 0.04% of their portfolio STAMFORD, CT 14,00014.0k $112.6k $112.6k 0.04% New
76 COMERICA BANK 0.00% of their portfolio DALLAS, TX 13,94813.9k $112.1k $112.1k 0.00% New
77 Ignite Planners, LLC 0.03% of their portfolio SAN CLEMENTE, CA 13,40213.4k $103.3k $103.3k 0.03% New
78 Jackson Wealth Management, LLC 0.02% of their portfolio LAKE MARY, FL 13,23713.2k $106.0k $106.0k 0.02% Unchanged
79 CITADEL ADVISORS LLC 0.00% of their portfolio MIAMI, FL 12,74312.7k $102.5k $102.5k 0.00% New
80 Pinnacle Wealth Planning Services, Inc. 0.02% of their portfolio MANSFIELD, OH 12,50012.5k $100.5k $100.5k 0.02% Reduced -76.7k -76,657
81 Capital Investment Advisory Services, LLC 0.01% of their portfolio RALEIGH, NC 12,18212.2k $97.9k $97.9k 0.01% Reduced -1.2k -1,175
82 WEALTH ENHANCEMENT ADVISORY SERVICES, LLC 0.00% of their portfolio PLYMOUTH, MN 11,91911.9k $95.8k $95.8k 0.00% New
83 Koshinski Asset Management, Inc. 0.01% of their portfolio DECATUR, IL 11,62511.6k $93.5k $93.5k 0.01% Reduced -3.2k -3,241
84 HRT FINANCIAL LP 0.00% of their portfolio NEW YORK, NY 10,24410.2k $82.0k $82.0k 0.00% New
85 Spire Wealth Management 0.00% of their portfolio MCLEAN, VA 9,5879.6k $77.1k $77.1k 0.00% Added +35 +35
86 LANARK FINANCIAL, INC. 0.01% of their portfolio BIRMINGHAM, AL 9,4809.5k $76.0k $76.0k 0.01% First filing
87 Baker Avenue Asset Management, LP 0.00% of their portfolio SAN FRANCISCO, CA 3,7103.7k $29.8k $29.8k 0.00% New
88 BLUE BELL PRIVATE WEALTH MANAGEMENT, LLC 0.01% of their portfolio BLUE BELL, PA 2,7642.8k $22.2k $22.2k 0.01% Unchanged
89 CREATIVE FINANCIAL DESIGNS INC /ADV 0.00% of their portfolio KOKOMO, IN 2,3632.4k $19.0k $19.0k 0.00% Unchanged
90 BANK OF AMERICA CORP /DE/ 0.00% of their portfolio CHARLOTTE, NC 2,3392.3k $18.8k $18.8k 0.00% Unchanged
91 Byrne Asset Management LLC 0.01% of their portfolio KINGSTON, NJ 1,8001.8k $14.0k $14.0k 0.01% Unchanged
92 AlphaMark Advisors, LLC 0.01% of their portfolio FT. WRIGHT, KY 1,7411.7k $14.0k $14.0k 0.01% Added +1.1k +1,141
93 BESSEMER GROUP INC 0.00% of their portfolio WOODBRIDGE, NJ 1,4901.5k $12.0k $12.0k 0.00% Reduced -725 -725
94 NORTHWESTERN MUTUAL WEALTH MANAGEMENT CO 0.00% of their portfolio MILWAUKEE, WI 1,4791.5k $11.9k $11.9k 0.00% New
95 Princeton Global Asset Management LLC 0.00% of their portfolio PRINCETON, NJ 1,1251.1k $9.0k $9.0k 0.00% Unchanged
96 IFP Advisors, Inc 0.00% of their portfolio TAMPA, FL 1,0201.0k $8.2k $8.2k 0.00% Reduced -5.9k -5,856
97 JNBA Financial Advisors 0.00% of their portfolio BLOOMINGTON, MN 624624 $5.0k $5.0k 0.00% Added +12 +12
98 Raleigh Capital Management Inc. 0.00% of their portfolio CARY, NC 600600 $4.8k $4.8k 0.00% Reduced -350 -350
99 Concord Wealth Partners 0.00% of their portfolio ABINGDON, VA 527527 $4.2k $4.2k 0.00% Added +15 +15
100 Sound Income Strategies, LLC 0.00% of their portfolio FT LAUDERDALE, FL 382382 $3.1k $3.1k 0.00% Unchanged