Vault-13

HIGHLAND OPPORTUNITIES HFRO

HIGHLAND INCOME · Closed-End Fund · CUSIP 43010E404

108 institutional holders +2 vs Q4 2023
36,460,81636.5m shares reported held*
$256.1mreported value*
18 new 43 added 26 reduced 16 sold out net bought ≈ $42.3m (+6.0m 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 ≈ $7.02.

Trends to Q1 2024

Institutional holders

Managers reporting a position, each quarter

050100150Q3 22: 95Q4 22: 102Q1 23: 100Q2 23: 98Q3 23: 107Q4 23: 106Q1 24: 108108Q3 22Q1 23Q3 23Q1 24
Numbers
QuarterHolders
Q3 202295
Q4 2022102
Q1 2023100
Q2 202398
Q3 2023107
Q4 2023106
Q1 2024108

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 23Q4 23: 53 bought or addedQ4 23: 41 cut or sold outQ4 23Q1 24: 61 bought or addedQ1 24: 42 cut or sold outQ1 24
Numbers
QuarterBought or addedCut or sold out
Q4 20225235
Q1 20234942
Q2 20234641
Q3 20235433
Q4 20235341
Q1 20246142

Biggest buyers

MORGAN STANLEY Added +2,161,572+2.2m
RAYMOND JAMES & ASSOCIATES Added +1,522,660+1.5m
LANDSCAPE CAPITAL MANAGEMENT, L.L.C. Added +571,830+571.8k
Invesco Ltd. Added +533,216+533.2k
CHOREO, LLC New +327,637+327.6k
Alpine Global Management, LLC New +302,072+302.1k
ENVESTNET ASSET MANAGEMENT INC Added +258,448+258.4k
ROYAL BANK OF CANADA Added +236,601+236.6k
Cambridge Investment Research Advisors, Inc. Added +203,867+203.9k
Bulldog Investors, LLP Added +157,934+157.9k

Biggest sellers

WELLS FARGO & COMPANY/MN Reduced -242,606-242.6k
Advisor Resource Council Sold out -221,064-221.1k
LPL Financial LLC Reduced -195,230-195.2k
Camelot Portfolios, LLC Reduced -161,600-161.6k
ICON ADVISERS INC/CO Sold out -128,733-128.7k
Marks Group Wealth Management, Inc Sold out -118,805-118.8k
AQR Arbitrage LLC Reduced -78,587-78.6k
Lido Advisors, LLC Sold out -40,318-40.3k
Creative Planning Reduced -31,597-31.6k
AVANTAX ADVISORY SERVICES, INC. Sold out -31,355-31.4k

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 Q1 2024

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
101Q2 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 23Q4 23: 0 buyingQ4 23: 0 sellingQ1 24: 0 buyingQ1 24: 0 sellingQ1 24
Numbers
QuarterBuyingBoughtSellingSoldSold under a plan
Q2 20220—0——
Q3 20220—0——
Q4 20220—1$8.6k—
Q1 20230—0——
Q2 20230—0——
Q3 20230—0——
Q4 20230—0——
Q1 20240—0——

None reported in Q1 2024.

Holders, Q1 2024

#ManagerLocationShares Value% of their portfolioChangeShares change
1 MORGAN STANLEY 0.00% of their portfolio NEW YORK, NY 11,190,28211.2m $78.7m $78.7m 0.00% Added +2.2m +2,161,572
2 Thomas J. Herzfeld Advisors, Inc. 7.79% of their portfolio MIAMI BEACH, FL 3,135,7983.1m $22.0m $22.0m 7.79% Added +111.7k +111,706
3 RAYMOND JAMES & ASSOCIATES 0.01% of their portfolio ST PETERSBURG, FL 2,577,7882.6m $18.1m $18.1m 0.01% Added +1.5m +1,522,660
4 ROYAL BANK OF CANADA 0.00% of their portfolio TORONTO, A6 2,080,0682.1m $14.6m $14.6m 0.00% Added +236.6k +236,601
5 Invesco Ltd. 0.00% of their portfolio ATLANTA, GA 1,767,8801.8m $12.4m $12.4m 0.00% Added +533.2k +533,216
6 ENVESTNET ASSET MANAGEMENT INC 0.00% of their portfolio Berwyn, PA 1,651,7061.7m $11.6m $11.6m 0.00% Added +258.4k +258,448
7 LPL Financial LLC 0.00% of their portfolio FORT MILL, SC 1,248,1201.2m $8.8m $8.8m 0.00% Reduced -195.2k -195,230
8 Penserra Capital Management LLC 0.10% of their portfolio ORINDA, CA 1,126,3751.1m $7.9m $7.9m 0.10% Added +142.0k +142,042
9 NEXPOINT ASSET MANAGEMENT, L.P. 1.08% of their portfolio Dallas, TX 998,511998.5k $7.0m $7.0m 1.08% Added +80.5k +80,464
10 LANDSCAPE CAPITAL MANAGEMENT, L.L.C. 0.60% of their portfolio Englewood, NJ 969,630969.6k $6.8m $6.8m 0.60% Added +571.8k +571,830
11 Cambridge Investment Research Advisors, Inc. 0.02% of their portfolio FAIRFIELD, IA 828,772828.8k $5.8m $5.8m 0.02% Added +203.9k +203,867
12 OPPENHEIMER & CO INC 0.08% of their portfolio NEW YORK, NY 697,143697.1k $4.9m $4.9m 0.08% Added +23.0k +23,027
13 COMMONWEALTH EQUITY SERVICES, LLC 0.01% of their portfolio WALTHAM, MA 583,309583.3k $4.1m $4.1m 0.01% Added +5.0k +5,016
14 IHT Wealth Management, LLC 0.14% of their portfolio Chicago, IL 511,615511.6k $3.6m $3.6m 0.14% Added +2.0k +1,985
15 Bulldog Investors, LLP 1.09% of their portfolio SADDLE BROOK, NJ 467,993468.0k $3.3m $3.3m 1.09% Added +157.9k +157,934
16 HighTower Advisors, LLC 0.00% of their portfolio CHICAGO, IL 425,423425.4k $3.0m $3.0m 0.00% Added +83.4k +83,356
17 Matisse Capital 1.39% of their portfolio PORTLAND, OR 410,000410.0k $2.9m $2.9m 1.39% Added +125.0k +125,000
18 Geneos Wealth Management Inc. 0.13% of their portfolio ENGLEWOOD, CO 393,758393.8k $2.8m $2.8m 0.13% Added +8.6k +8,583
19 Camelot Portfolios, LLC 2.66% of their portfolio Maumee, OH 386,453386.5k $2.7m $2.7m 2.66% Reduced -161.6k -161,600
20 NATIONS FINANCIAL GROUP INC, /IA/ /ADV 0.22% of their portfolio CEDAR RAPIDS, IA 374,510374.5k $2.6m $2.6m 0.22% Reduced -6.4k -6,372
21 Amundi 0.00% of their portfolio Paris, I0 367,181367.2k $2.3m $2.3m 0.00% Unchanged
22 CHOREO, LLC 0.06% of their portfolio ROCKFORD, IL 327,637327.6k $2.3m $2.3m 0.06% New
23 OSAIC HOLDINGS, INC. 0.00% of their portfolio SCOTTSDALE, AZ 316,576316.6k $2.2m $2.2m 0.00% Added +31.2k +31,235
24 Alpine Global Management, LLC 0.23% of their portfolio NEW YORK, NY 302,072302.1k $2.1m $2.1m 0.23% New
25 WELLS FARGO & COMPANY/MN 0.00% of their portfolio SAN FRANCISCO, CA 215,437215.4k $1.5m $1.5m 0.00% Reduced -242.6k -242,606
26 BOKF, NA 0.03% of their portfolio TULSA, OK 209,437209.4k $1.4m $1.4m 0.03% Added +4.8k +4,809
27 PARK AVENUE SECURITIES LLC 0.02% of their portfolio NEW YORK, NY 178,349178.3k $1.3m $1.3m 0.02% Added +27.9k +27,949
28 Sage Capital Management, LLC 0.56% of their portfolio Stockton, NJ 147,604147.6k $1.0m $1.0m 0.56% Reduced -23.1k -23,108
29 PREVAIL INNOVATIVE WEALTH ADVISORS, LLC 0.38% of their portfolio LEAWOOD, KS 146,335146.3k $1.0m $1.0m 0.38% Added +52.3k +52,256
30 Aristides Capital LLC 0.40% of their portfolio LOUISVILLE, KY 134,616134.6k $946.4k $946.4k 0.40% Unchanged
31 AQR Arbitrage LLC 0.03% of their portfolio Greenwich, CT 134,122134.1k $942.9k $942.9k 0.03% Reduced -78.6k -78,587
32 Janney Montgomery Scott LLC 0.00% of their portfolio PHILADELPHIA, PA 103,299103.3k $726.0k $726.0k 0.00% Added +3.3k +3,344
33 NWF Advisory Services Inc. 0.11% of their portfolio Los Angeles, CA 95,45095.5k $671.0k $671.0k 0.11% Added +14.1k +14,050
34 Arete Wealth Advisors, LLC 0.06% of their portfolio CHICAGO, IL 91,55291.6k $643.6k $643.6k 0.06% Added +3.9k +3,939
35 Baird Financial Group, Inc. 0.00% of their portfolio MILWAUKEE, WI 91,16291.2k $640.9k $640.9k 0.00% Added +20.4k +20,387
36 Qube Research & Technologies Ltd 0.00% of their portfolio LONDON, X0 84,17984.2k $591.8k $591.8k 0.00% Unchanged
37 AEGON USA Investment Management, LLC 0.36% of their portfolio CEDAR RAPIDS, IA 74,93374.9k $526.8k $526.8k 0.36% New
38 Creative Planning 0.00% of their portfolio OVERLAND PARK, KS 74,11774.1k $521.0k $521.0k 0.00% Reduced -31.6k -31,597
39 Arlington Capital Management, Inc. 0.41% of their portfolio ARLINGTON HEIGHTS, IL 70,72570.7k $497.2k $497.2k 0.41% New
40 TRUIST FINANCIAL CORP 0.00% of their portfolio CHARLOTTE, NC 65,80865.8k $462.6k $462.6k 0.00% Reduced -22.4k -22,445
41 Samalin Investment Counsel, LLC 0.21% of their portfolio CHAPPAQUA, NY 63,74263.7k $448.1k $448.1k 0.21% Added +12.3k +12,279
42 SFI Advisors, LLC 0.30% of their portfolio Montclair, NJ 55,23355.2k $388.3k $388.3k 0.30% Added +10.2k +10,187
43 BOOTHBAY FUND MANAGEMENT, LLC 0.01% of their portfolio NEW YORK, NY 55,00055.0k $386.6k $386.6k 0.01% New
44 Eschler Asset Management LLP 0.24% of their portfolio London, X0 55,00055.0k $375.1k $375.1k 0.24% New
45 Kingsview Wealth Management, LLC 0.01% of their portfolio GRANTS PASS, OR 53,47553.5k $375.9k $375.9k 0.01% Reduced -29.7k -29,748
46 KNIGHTSBRIDGE ASSET MANAGEMENT, LLC 0.11% of their portfolio NEWPORT BEACH, CA 50,55950.6k $388.8k $388.8k 0.11% Unchanged
47 INDEPENDENT FINANCIAL GROUP, LLC 0.02% of their portfolio SAN DIEGO, CA 49,90349.9k $350.8k $350.8k 0.02% Added +3.3k +3,335
48 SCOTIA CAPITAL INC. 0.00% of their portfolio TORONTO, A6 49,36249.4k $347.0k $347.0k 0.00% Added +22.6k +22,566
49 Rockefeller Capital Management L.P. 0.00% of their portfolio NEW YORK, NY 47,88347.9k $336.6k $336.6k 0.00% Added +7.0k +7,020
50 Envestnet Portfolio Solutions, Inc. 0.00% of their portfolio BERWYN, PA 45,84145.8k $322.3k $322.3k 0.00% Added +4.9k +4,860
51 Atria Wealth Solutions, Inc. 0.00% of their portfolio NEW YORK, NY 43,73643.7k $307.5k $307.5k 0.00% Added +4.5k +4,478
52 LYNX CAPITAL GROUP LTD /ADV 0.21% of their portfolio BEACHWOOD, OH 43,62343.6k $306.7k $306.7k 0.21% Reduced -543 -543
53 Marathon Trading Investment Management LLC 0.11% of their portfolio RADNOR, PA 41,00041.0k $288.2k $288.2k 0.11% Reduced -1.5k -1,500
54 Edge Financial Advisors LLC 0.25% of their portfolio WHEATON, IL 40,08440.1k $281.8k $281.8k 0.25% First filing
55 Cetera Investment Advisers 0.00% of their portfolio SCHAUMBURG, IL 38,96339.0k $273.9k $273.9k 0.00% Added +7.5k +7,544
56 MIdWestOne Financial Group, Inc. 0.05% of their portfolio Iowa City, IA 36,57836.6k $257.1k $257.1k 0.05% Unchanged
57 B. Riley Wealth Advisors, Inc. 0.01% of their portfolio MEMPHIS, TN 33,20833.2k $267.0k $267.0k 0.01% Unchanged
58 RAYMOND JAMES TRUST N.A. 0.01% of their portfolio ST. PETERSBURG, FL 32,66232.7k $229.6k $229.6k 0.01% Unchanged
59 UBS Group AG 0.00% of their portfolio ZURICH, V8 32,52932.5k $228.7k $228.7k 0.00% Added +3.3k +3,298
60 INTEGRATED CAPITAL MANAGEMENT, INC. 0.18% of their portfolio JESSUP, PA 32,03332.0k $225.2k $225.2k 0.18% Added +9.8k +9,833
61 MELFA WEALTH MANAGEMENT, INC. 0.16% of their portfolio WESTBOROUGH, MA 31,89531.9k $224.2k $224.2k 0.16% Added +46 +46
62 True North Advisors, LLC 0.06% of their portfolio Dallas, TX 28,61528.6k $201.2k $201.2k 0.06% New
63 STEPHENS INC /AR/ 0.00% of their portfolio LITTLE ROCK, AR 28,37628.4k $199.5k $199.5k 0.00% Reduced -3.7k -3,710
64 CAPTRUST FINANCIAL ADVISORS 0.00% of their portfolio RALEIGH, NC 27,36827.4k $192.4k $192.4k 0.00% Reduced -1.4k -1,381
65 Kestra Advisory Services, LLC 0.00% of their portfolio AUSTIN, TX 27,02327.0k $190.0k $190.0k 0.00% Reduced -706 -706
66 MONECO ADVISORS, LLC 0.03% of their portfolio FAIRFIELD, CT 25,82425.8k $181.5k $181.5k 0.03% Reduced -1.7k -1,667
67 Calamos Advisors LLC 0.00% of their portfolio NAPERVILLE, IL 25,42325.4k $178.7k $178.7k 0.00% New
68 Private Advisor Group, LLC 0.00% of their portfolio MORRISTOWN, NJ 22,66922.7k $159.4k $159.4k 0.00% Reduced -2.6k -2,618
69 CSS LLC/IL 0.01% of their portfolio CHICAGO, IL 22,07222.1k $155.2k $155.2k 0.01% Unchanged
70 Keystone Wealth Services, LLC 0.04% of their portfolio PALM DESERT, CA 18,20918.2k $128.0k $128.0k 0.04% Added +483 +483
71 Concorde Asset Management, LLC 0.09% of their portfolio ANN ARBOR, MI 18,10018.1k $127.2k $127.2k 0.09% New
72 One Charles Private Wealth Services, LLC 0.05% of their portfolio HINGHAM, MA 17,24817.2k $121.3k $121.3k 0.05% Unchanged
73 CHANNEL WEALTH LLC 0.05% of their portfolio SANTA BARBARA, CA 17,06217.1k $119.9k $119.9k 0.05% Reduced -443 -443
74 Capital Investment Advisory Services, LLC 0.01% of their portfolio RALEIGH, NC 16,81016.8k $118.2k $118.2k 0.01% Added +3.6k +3,642
75 Verition Fund Management LLC 0.00% of their portfolio GREENWICH, CT 15,00015.0k $105.5k $105.5k 0.00% Unchanged
76 MML INVESTORS SERVICES, LLC 0.00% of their portfolio SPRINGFIELD, MA 14,94714.9k $105.0k $105.0k 0.00% Reduced -966 -966
77 Marex Group Ltd 0.00% of their portfolio London, X0 13,79513.8k $97.0k $97.0k 0.00% New
78 Beacon Financial Advisory LLC 0.05% of their portfolio CLEVELAND, OH 13,70213.7k $96.3k $96.3k 0.05% Reduced -1.8k -1,780
79 Catalina Capital Group, LLC 0.04% of their portfolio Torrance, CA 13,63113.6k $95.8k $95.8k 0.04% Reduced -4.9k -4,921
80 Jackson Wealth Management, LLC 0.01% of their portfolio LAKE MARY, FL 13,23713.2k $93.0k $93.0k 0.01% Unchanged
81 XTX Topco Ltd 0.01% of their portfolio LONDON, X0 12,56712.6k $88.3k $88.3k 0.01% New
82 Inscription Capital, LLC 0.01% of their portfolio HOUSTON, TX 11,91411.9k $83.8k $83.8k 0.01% New
83 DRW Securities, LLC 0.00% of their portfolio CHICAGO, IL 10,80010.8k $75.9k $75.9k 0.00% New
84 COMERICA BANK 0.00% of their portfolio DALLAS, TX 8,2278.2k $57.8k $57.8k 0.00% Reduced -4.9k -4,919
85 Steward Partners Investment Advisory, LLC 0.00% of their portfolio STAMFORD, CT 8,0388.0k $56.5k $56.5k 0.00% Reduced -19.4k -19,441
86 Spire Wealth Management 0.00% of their portfolio MCLEAN, VA 7,7587.8k $54.5k $54.5k 0.00% Unchanged
87 DEUTSCHE BANK AG\ 0.00% of their portfolio FRANKFURT AM MAIN, 2M 6,4796.5k $45.5k $45.5k 0.00% New
88 CIBC Private Wealth Group LLC 0.00% of their portfolio ATLANTA, GA 4,9745.0k $33.9k $33.9k 0.00% New
89 CREATIVE FINANCIAL DESIGNS INC /ADV 0.00% of their portfolio KOKOMO, IN 2,3632.4k $16.6k $16.6k 0.00% Unchanged
90 BLUE BELL PRIVATE WEALTH MANAGEMENT, LLC 0.00% of their portfolio BLUE BELL, PA 2,3442.3k $16.5k $16.5k 0.00% Reduced -25 -25
91 PRINCIPAL SECURITIES, INC. 0.00% of their portfolio DES MOINES, IA 2,1082.1k $14.8k $14.8k 0.00% Reduced -2.0k -2,000
92 BESSEMER GROUP INC 0.00% of their portfolio WOODBRIDGE, NJ 2,0192.0k $14.0k $14.0k 0.00% Added +479 +479
93 CoreCap Advisors, LLC 0.00% of their portfolio SOUTHFIELD, MI 1,9071.9k $13.4k $13.4k 0.00% New
94 AlphaMark Advisors, LLC 0.00% of their portfolio FT. WRIGHT, KY 1,8411.8k $13.0k $13.0k 0.00% Added +49 +49
95 Byrne Asset Management LLC 0.01% of their portfolio KINGSTON, NJ 1,8001.8k $12.7k $12.7k 0.01% Unchanged
96 PNC Financial Services Group, Inc. 0.00% of their portfolio Pittsburgh, PA 1,6001.6k $11.2k $11.2k 0.00% New
97 BANK OF AMERICA CORP /DE/ 0.00% of their portfolio CHARLOTTE, NC 1,4011.4k $9.8k $9.8k 0.00% Reduced -938 -938
98 Raleigh Capital Management Inc. 0.00% of their portfolio CARY, NC 1,1001.1k $7.7k $7.7k 0.00% Unchanged
99 IFP Advisors, Inc 0.00% of their portfolio TAMPA, FL 1,0701.1k $7.5k $7.5k 0.00% Added +19 +19
100 NewEdge Advisors, LLC 0.00% of their portfolio NEW ORLEANS, LA 758758 $5.3k $5.3k 0.00% Reduced -53 -53