Vault-13

HIGHLAND OPPORTUNITIES HFRO

HIGHLAND INCOME · Closed-End Fund · CUSIP 43010E404

113 institutional holders +11 vs Q3 2024
28,736,55228.7m shares reported held*
$149.1mreported value*
14 new 28 added 38 reduced 10 sold out net sold ≈ $8.0m (-1.5m 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 ≈ $5.19.

Trends to Q4 2024

Institutional holders

Managers reporting a position, each quarter

050100150Q3 22: 95Q4 22: 102Q1 23: 100Q2 23: 98Q3 23: 107Q4 23: 106Q1 24: 108Q2 24: 102Q3 24: 102Q4 24: 113113Q3 22Q1 23Q3 23Q1 24Q3 24Q4 24
Numbers
QuarterHolders
Q3 202295
Q4 2022102
Q1 2023100
Q2 202398
Q3 2023107
Q4 2023106
Q1 2024108
Q2 2024102
Q3 2024102
Q4 2024113

Buyers vs sellers

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

Bought or addedCut or sold out
1000100Q1 23: 49 bought or addedQ1 23: 42 cut or sold outQ2 23: 46 bought or addedQ2 23: 41 cut or sold outQ2 23Q3 23: 54 bought or addedQ3 23: 33 cut or sold outQ4 23: 53 bought or addedQ4 23: 41 cut or sold outQ4 23Q1 24: 61 bought or addedQ1 24: 42 cut or sold outQ2 24: 54 bought or addedQ2 24: 44 cut or sold outQ2 24Q3 24: 47 bought or addedQ3 24: 46 cut or sold outQ4 24: 42 bought or addedQ4 24: 48 cut or sold outQ4 24
Numbers
QuarterBought or addedCut or sold out
Q1 20234942
Q2 20234641
Q3 20235433
Q4 20235341
Q1 20246142
Q2 20245444
Q3 20244746
Q4 20244248

Biggest buyers

ICON ADVISERS INC/CO New +524,518+524.5k
Marex Group Ltd Added +246,860+246.9k
Yakira Capital Management, Inc. New +204,248+204.2k
ABSOLUTE INVESTMENT ADVISERS, LLC New +169,300+169.3k
Geneos Wealth Management Inc. Added +118,567+118.6k
NewEdge Advisors, LLC Added +112,141+112.1k
OSAIC HOLDINGS, INC. Added +95,681+95.7k
Private Capital Management, LLC Added +81,100+81.1k
JANE STREET GROUP, LLC Added +67,861+67.9k
BLUE BELL PRIVATE WEALTH MANAGEMENT, LLC Added +67,583+67.6k

Biggest sellers

LANDSCAPE CAPITAL MANAGEMENT, L.L.C. Reduced -431,118-431.1k
ROYAL BANK OF CANADA Reduced -429,967-430.0k
MORGAN STANLEY Reduced -406,167-406.2k
LPL Financial LLC Reduced -359,655-359.7k
ENVESTNET ASSET MANAGEMENT INC Reduced -306,489-306.5k
Thomas J. Herzfeld Advisors, Inc. Reduced -258,677-258.7k
Cambridge Investment Research Advisors, Inc. Reduced -236,822-236.8k
NWF Advisory Services Inc. Sold out -187,400-187.4k
Bulldog Investors, LLP Reduced -182,460-182.5k
OPPENHEIMER & CO INC Reduced -133,157-133.2k

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 Q4 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.

None reported in Q4 2024.

Holders, Q4 2024

#ManagerLocationShares Value% of their portfolioChangeShares change
1 RAYMOND JAMES FINANCIAL INC 0.01% of their portfolio ST. PETERSBURG, FL 4,142,0094.1m $21.5m $21.5m 0.01% First filing
2 MORGAN STANLEY 0.00% of their portfolio NEW YORK, NY 3,314,0493.3m $17.2m $17.2m 0.00% Reduced -406.2k -406,167
3 Thomas J. Herzfeld Advisors, Inc. 4.59% of their portfolio MIAMI BEACH, FL 2,760,7782.8m $14.3m $14.3m 4.59% Reduced -258.7k -258,677
4 ROYAL BANK OF CANADA 0.00% of their portfolio TORONTO, A6 2,156,5382.2m $11.2m $11.2m 0.00% Reduced -430.0k -429,967
5 Invesco Ltd. 0.00% of their portfolio ATLANTA, GA 1,840,8171.8m $9.6m $9.6m 0.00% Added +16.4k +16,377
6 ENVESTNET ASSET MANAGEMENT INC 0.00% of their portfolio Berwyn, PA 1,716,6401.7m $8.9m $8.9m 0.00% Reduced -306.5k -306,489
7 LANDSCAPE CAPITAL MANAGEMENT, L.L.C. 0.51% of their portfolio Englewood, NJ 920,333920.3k $4.8m $4.8m 0.51% Reduced -431.1k -431,118
8 NEXPOINT ASSET MANAGEMENT, L.P. 0.55% of their portfolio Dallas, TX 918,047918.0k $4.8m $4.8m 0.55% Unchanged
9 LPL Financial LLC 0.00% of their portfolio FORT MILL, SC 740,645740.6k $3.8m $3.8m 0.00% Reduced -359.7k -359,655
10 Cambridge Investment Research Advisors, Inc. 0.01% of their portfolio FAIRFIELD, IA 737,149737.1k $3.8m $3.8m 0.01% Reduced -236.8k -236,822
11 North Ground Capital 3.07% of their portfolio Cohasset, MA 550,000550.0k $2.9m $2.9m 3.07% First filing
12 ICON ADVISERS INC/CO 0.61% of their portfolio GREENWOOD VILLAGE, CO 524,518524.5k $2.7m $2.7m 0.61% New
13 Geneos Wealth Management Inc. 0.09% of their portfolio ENGLEWOOD, CO 520,838520.8k $2.7m $2.7m 0.09% Added +118.6k +118,567
14 Matisse Capital 1.34% of their portfolio PORTLAND, OR 509,000509.0k $2.6m $2.6m 1.34% Added +53.9k +53,935
15 Alpine Global Management, LLC 0.34% of their portfolio NEW YORK, NY 500,000500.0k $2.6m $2.6m 0.34% Unchanged
16 OPPENHEIMER & CO INC 0.04% of their portfolio NEW YORK, NY 481,470481.5k $2.5m $2.5m 0.04% Reduced -133.2k -133,157
17 CHOREO, LLC 0.03% of their portfolio ROCKFORD, IL 442,552442.6k $2.3m $2.3m 0.03% Added +67.2k +67,168
18 COMMONWEALTH EQUITY SERVICES, LLC 0.00% of their portfolio WALTHAM, MA 428,547428.5k $2.2m $2.2m 0.00% Reduced -106.6k -106,576
19 IHT Wealth Management, LLC 0.07% of their portfolio Chicago, IL 402,105402.1k $2.1m $2.1m 0.07% Reduced -64.6k -64,632
20 HighTower Advisors, LLC 0.00% of their portfolio CHICAGO, IL 379,174379.2k $2.0m $2.0m 0.00% Reduced -12.8k -12,753
21 OSAIC HOLDINGS, INC. 0.00% of their portfolio SCOTTSDALE, AZ 366,086366.1k $1.9m $1.9m 0.00% Added +95.7k +95,681
22 Camelot Portfolios, LLC 2.03% of their portfolio Maumee, OH 362,122362.1k $1.9m $1.9m 2.03% Reduced -19.7k -19,728
23 NATIONS FINANCIAL GROUP INC, /IA/ /ADV 0.14% of their portfolio CEDAR RAPIDS, IA 356,315356.3k $1.8m $1.8m 0.14% Reduced -7.4k -7,425
24 Marex Group Ltd 0.02% of their portfolio London, X0 256,973257.0k $1.3m $1.3m 0.02% Added +246.9k +246,860
25 Yakira Capital Management, Inc. 0.42% of their portfolio Westport, CT 204,248204.2k $1.1m $1.1m 0.42% New
26 PARK AVENUE SECURITIES LLC 0.01% of their portfolio NEW YORK, NY 199,478199.5k $1.0m $1.0m 0.01% Added +11.8k +11,750
27 AEGON USA Investment Management, LLC 0.78% of their portfolio CEDAR RAPIDS, IA 196,615196.6k $1.0m $1.0m 0.78% Added +33.5k +33,494
28 Bulldog Investors, LLP 0.23% of their portfolio SADDLE BROOK, NJ 169,726169.7k $880.9k $880.9k 0.23% Reduced -182.5k -182,460
29 ABSOLUTE INVESTMENT ADVISERS, LLC 0.11% of their portfolio ROSEMARY BEACH, FL 169,300169.3k $878.7k $878.7k 0.11% New
30 Aristides Capital LLC 0.24% of their portfolio LOUISVILLE, KY 150,906150.9k $783.2k $783.2k 0.24% Added +16.3k +16,290
31 Private Capital Management, LLC 0.08% of their portfolio NAPLES, FL 141,000141.0k $731.8k $731.8k 0.08% Added +81.1k +81,100
32 NewEdge Advisors, LLC 0.00% of their portfolio NEW ORLEANS, LA 124,046124.0k $643.8k $643.8k 0.00% Added +112.1k +112,141
33 Baird Financial Group, Inc. 0.00% of their portfolio MILWAUKEE, WI 114,187114.2k $592.6k $592.6k 0.00% Added +11.6k +11,601
34 Arlington Capital Management, Inc. 0.35% of their portfolio ARLINGTON HEIGHTS, IL 96,24296.2k $499.5k $499.5k 0.35% Added +13.2k +13,188
35 Arete Wealth Advisors, LLC 0.03% of their portfolio CHICAGO, IL 88,70488.7k $472.0k $472.0k 0.03% Reduced -1.4k -1,442
36 JANE STREET GROUP, LLC 0.00% of their portfolio NEW YORK, NY 83,13483.1k $431.5k $431.5k 0.00% Added +67.9k +67,861
37 UBS Group AG 0.00% of their portfolio ZURICH, V8 77,86077.9k $404.1k $404.1k 0.00% Added +46.5k +46,548
38 Samalin Investment Counsel, LLC 0.16% of their portfolio CHAPPAQUA, NY 73,61373.6k $382.1k $382.1k 0.16% Reduced -16.7k -16,746
39 BLUE BELL PRIVATE WEALTH MANAGEMENT, LLC 0.07% of their portfolio BLUE BELL, PA 72,97773.0k $378.8k $378.8k 0.07% Added +67.6k +67,583
40 Quarry LP 0.07% of their portfolio NEW YORK, NY 65,90065.9k $342.0k $342.0k 0.07% New
41 Envestnet Portfolio Solutions, Inc. 0.00% of their portfolio BERWYN, PA 59,88659.9k $310.8k $310.8k 0.00% Added +5.2k +5,156
42 Janney Montgomery Scott LLC 0.00% of their portfolio PHILADELPHIA, PA 57,28557.3k $297.0k $297.0k 0.00% Reduced -22.4k -22,362
43 Cetera Investment Advisers 0.00% of their portfolio SCHAUMBURG, IL 57,16457.2k $296.7k $296.7k 0.00% Reduced -887 -887
44 Concorde Asset Management, LLC 0.15% of their portfolio ANN ARBOR, MI 56,80056.8k $294.8k $294.8k 0.15% Reduced -1.5k -1,500
45 Atria Wealth Solutions, Inc. 0.00% of their portfolio NEW YORK, NY 55,11755.1k $286.1k $286.1k 0.00% Added +2.8k +2,772
46 Calamos Advisors LLC 0.00% of their portfolio NAPERVILLE, IL 53,74353.7k $278.9k $278.9k 0.00% Added +10.3k +10,335
47 Ariadne Wealth Management, LP 0.14% of their portfolio SANTA BARBARA, CA 52,45352.5k $304.2k $304.2k 0.14% Added +12 +12
48 Creative Planning 0.00% of their portfolio OVERLAND PARK, KS 50,75450.8k $263.4k $263.4k 0.00% Reduced -1.1k -1,094
49 SCOTIA CAPITAL INC. 0.00% of their portfolio TORONTO, A6 49,36249.4k $256.2k $256.2k 0.00% Unchanged
50 INTEGRATED CAPITAL MANAGEMENT, INC. 0.18% of their portfolio JESSUP, PA 42,94742.9k $222.9k $222.9k 0.18% Added +3.1k +3,071
51 GatePass Capital, LLC 0.24% of their portfolio INDEPENDENCE, OH 42,50042.5k $220.6k $220.6k 0.24% First filing
52 GOLDMAN SACHS GROUP INC 0.00% of their portfolio NEW YORK, NY 41,47741.5k $215.3k $215.3k 0.00% Reduced -1.8k -1,800
53 Sage Capital Management, LLC 0.10% of their portfolio Stockton, NJ 38,24238.2k $198.5k $198.5k 0.10% Reduced -63.2k -63,196
54 MIdWestOne Financial Group, Inc. 0.03% of their portfolio Iowa City, IA 36,57836.6k $189.8k $189.8k 0.03% Unchanged
55 Sanctuary Advisors, LLC 0.00% of their portfolio INDIANAPOLIS, IN 36,23036.2k $206.1k $206.1k 0.00% Reduced -300 -300
56 MILLENNIUM MANAGEMENT LLC 0.00% of their portfolio NEW YORK, NY 33,25333.3k $172.6k $172.6k 0.00% Reduced -62.3k -62,330
57 SFI Advisors, LLC 0.11% of their portfolio Montclair, NJ 31,30531.3k $162.5k $162.5k 0.11% Reduced -32.7k -32,677
58 INDEPENDENT FINANCIAL GROUP, LLC 0.01% of their portfolio SAN DIEGO, CA 30,47630.5k $158.2k $158.2k 0.01% Reduced -34.8k -34,780
59 Papamarkou Wellner Asset Management inc. 0.11% of their portfolio NEW YORK, NY 30,00030.0k $155.7k $155.7k 0.11% First filing
60 MELFA WEALTH MANAGEMENT, INC. 0.10% of their portfolio WESTBOROUGH, MA 29,13529.1k $151.2k $151.2k 0.10% Unchanged
61 B. Riley Wealth Advisors, Inc. 0.00% of their portfolio MEMPHIS, TN 28,21328.2k $146.4k $146.4k 0.00% Reduced -325 -325
62 CAPTRUST FINANCIAL ADVISORS 0.00% of their portfolio RALEIGH, NC 27,36827.4k $142.0k $142.0k 0.00% Unchanged
63 Private Advisor Group, LLC 0.00% of their portfolio MORRISTOWN, NJ 25,19325.2k $130.7k $130.7k 0.00% Added +5.8k +5,841
64 Kingsview Wealth Management, LLC 0.00% of their portfolio GRANTS PASS, OR 24,60424.6k $127.7k $127.7k 0.00% Reduced -2.6k -2,649
65 Sequoia Financial Advisors, LLC 0.00% of their portfolio Akron, OH 23,98124.0k $124.5k $124.5k 0.00% New
66 TRUIST FINANCIAL CORP 0.00% of their portfolio CHARLOTTE, NC 23,47723.5k $121.8k $121.8k 0.00% Reduced -4.5k -4,514
67 Maridea Wealth Management LLC 0.04% of their portfolio BROOKLYN, NY 22,95123.0k $119.1k $119.1k 0.04% First filing
68 Kestra Advisory Services, LLC 0.00% of their portfolio AUSTIN, TX 22,70322.7k $117.8k $117.8k 0.00% Reduced -5.5k -5,485
69 CSS LLC/IL 0.01% of their portfolio CHICAGO, IL 22,07222.1k $114.6k $114.6k 0.01% Unchanged
70 Keystone Wealth Services, LLC 0.03% of their portfolio PALM DESERT, CA 19,28819.3k $100.1k $100.1k 0.03% Added +391 +391
71 BANK OF AMERICA CORP /DE/ 0.00% of their portfolio CHARLOTTE, NC 19,24519.2k $99.9k $99.9k 0.00% New
72 U.S. Capital Wealth Advisors, LLC 0.00% of their portfolio AUSTIN, TX 18,16418.2k $94.3k $94.3k 0.00% Added +5.0k +5,000
73 One Charles Private Wealth Services, LLC 0.03% of their portfolio HINGHAM, MA 17,24817.2k $89.5k $89.5k 0.03% Unchanged
74 CHANNEL WEALTH LLC 0.03% of their portfolio SANTA BARBARA, CA 17,06217.1k $88.6k $88.6k 0.03% Unchanged
75 Teamwork Financial Advisors, LLC 0.00% of their portfolio San Antonio, TX 16,14116.1k $5.2k $5.2k 0.00% New
76 MML INVESTORS SERVICES, LLC 0.00% of their portfolio SPRINGFIELD, MA 15,24315.2k $79.0k $79.0k 0.00% Added +1.1k +1,055
77 Walleye Capital LLC 0.00% of their portfolio NEW YORK, NY 15,03315.0k $78.0k $78.0k 0.00% New
78 STEPHENS INC /AR/ 0.00% of their portfolio LITTLE ROCK, AR 13,84413.8k $71.8k $71.8k 0.00% Reduced -12.9k -12,943
79 SUMMIT SECURITIES GROUP LLC 0.03% of their portfolio NEW YORK, NY 13,29313.3k $69.0k $69.0k 0.03% New
80 Jackson Wealth Management, LLC 0.01% of their portfolio LAKE MARY, FL 13,23713.2k $69.0k $69.0k 0.01% Unchanged
81 CITADEL ADVISORS LLC 0.00% of their portfolio MIAMI, FL 13,22313.2k $68.6k $68.6k 0.00% New
82 Post Resch Tallon Group Inc. 0.06% of their portfolio PITTSFORD, NY 12,10812.1k $64.1k $64.1k 0.06% First filing
83 Koshinski Asset Management, Inc. 0.01% of their portfolio DECATUR, IL 11,62511.6k $60.3k $60.3k 0.01% Unchanged
84 Capital Investment Advisory Services, LLC 0.01% of their portfolio RALEIGH, NC 10,54510.5k $54.7k $54.7k 0.01% Reduced -8.0k -8,010
85 TRUST CO OF TOLEDO NA /OH/ 0.01% of their portfolio HOLLAND, OH 10,00010.0k $51.9k $51.9k 0.01% New
86 COMERICA BANK 0.00% of their portfolio DALLAS, TX 7,4997.5k $38.9k $38.9k 0.00% Reduced -2.7k -2,656
87 Legacy Investment Solutions, LLC 0.02% of their portfolio BOISE, ID 5,2705.3k $30.5k $30.5k 0.02% Unchanged
88 Legacy Wealth Managment, LLC/ID 0.02% of their portfolio BOISE, ID 5,2705.3k $30.5k $30.5k 0.02% Unchanged
89 Spire Wealth Management 0.00% of their portfolio MCLEAN, VA 3,0003.0k $15.6k $15.6k 0.00% Reduced -4.0k -4,000
90 CREATIVE FINANCIAL DESIGNS INC /ADV 0.00% of their portfolio KOKOMO, IN 2,3632.4k $12.3k $12.3k 0.00% Unchanged
91 Steward Partners Investment Advisory, LLC 0.00% of their portfolio STAMFORD, CT 2,3382.3k $12.1k $12.1k 0.00% Unchanged
92 BESSEMER GROUP INC 0.00% of their portfolio WOODBRIDGE, NJ 2,2352.2k $12.0k $12.0k 0.00% Added +13 +13
93 Tower Research Capital LLC (TRC) 0.00% of their portfolio NEW YORK, NY 2,1322.1k $11.1k $11.1k 0.00% New
94 AlphaMark Advisors, LLC 0.00% of their portfolio FT. WRIGHT, KY 1,9501.9k $10.0k $10.0k 0.00% Added +39 +39
95 Byrne Asset Management LLC 0.01% of their portfolio KINGSTON, NJ 1,8001.8k $9.3k $9.3k 0.01% Unchanged
96 JONES FINANCIAL COMPANIES LLLP 0.00% of their portfolio DES PERES, MO 1,4931.5k $7.7k $7.7k 0.00% New
97 IFP Advisors, Inc 0.00% of their portfolio TAMPA, FL 1,1331.1k $5.9k $5.9k 0.00% Added +23 +23
98 Wingate Wealth Advisors, Inc. 0.01% of their portfolio LEXINGTON, MA 1,0001.0k $5.2k $5.2k 0.01% First filing
99 AMERIFLEX GROUP, INC. 0.00% of their portfolio LAS VEGAS, NV 853853 $4.9k $4.9k 0.00% First filing
100 CIBC Private Wealth Group LLC 0.00% of their portfolio ATLANTA, GA 713713 $3.9k $3.9k 0.00% Reduced -15 -15