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HFRO · Highland Opportunities & Income Fund · Holdings

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$6.11 -0.01 (-0.16%) At close · Oct 28
Rebalance outlook locked
Market Cap
$337.94M
Shares
55.22M
Volume · Oct 28 96.52K Avg daily vol (3M) 103.58K

Institutional ownership from SEC Form 13F filings. Investment managers with more than $100 million in U.S. equities must disclose their positions every quarter, within 45 days of quarter-end, so the holdings shown can lag the market by up to a quarter.

Use institutional holdings through the 13F API or MCP → See every holder of HFRO: 13F, 13D and 13G, insiders and funds →
The Sep 30, 2026 filing window is still open — showing the latest known positions. Funds that have not filed yet carry their prior-quarter positions; a fund that filed without this stock counts as sold out. Each fund's Change is measured against its own previous reported quarter, shown in the Reported column. Pick a completed quarter in the Quarter selector below to put every fund on one quarter and see the stock-wide activity breakdown.
Holders: 88
Total Value: $225,213,218
Total Shares: 31,663,259

Institutional Ownership Trend

27 quarters

Holder Concentration

Across 91 13F filers
Top Holder
18.8%
Sep 2023 → Jun 2026 · range 12.0% – 18.8%
of institutional value
Top 5
62.1%
Sep 2023 → Jun 2026 · range 46.1% – 62.1%
of institutional value
Top 10
80.8%
Sep 2023 → Jun 2026 · range 65.8% – 80.8%
of institutional value
HHI
955
Sep 2023 → Jun 2026 · range 586 – 955
Broadly held

Who Holds HFRO

Last 8 quarters through Sep 30, 2026 (filing window open)

Each kind of 13F filer's share of the common shares 13F filers report. Holder type comes from regulatory records, never the filer's name; style, turnover and horizon are measured from each filer's own 13F book. The quarter selector does not change this card.

Jun 30, 2026, the newest closed quarter: 91 filers, like-for-like change +4.7%; actively managed books +5.3%; index-like books -1.6%.

Holder type Share Filers Change
Registered adviser 61.1% 54 +10.8%
Exempt adviser 0.4% 1 new
Adviser 3.7% 2 -17.9%
Bank 1.8% 4 -11.8%
Broker-dealer 1.9% 1 -1.2%
Holding company 8.2% 5 -1.6%
Unknown 22.8% 24 -2.7%

The Sep 30, 2026 filing window is still open, so its bar carries the Jun 30, 2026 positions of filers that have not filed yet.

How the mix is measured

Shares are 13F common shares restated to today's split basis; options and principal amounts are left out. The change compares only filers with a 13F in both quarters and keeps each filer in its bucket of the later quarter on both sides; a filer that continues under a new CIK is compared through its successor. Holder type comes from each filer's current regulatory profile; client base and private funds come from the Form ADV roster current at each quarter end (rosters from December 2019, so an earlier quarter reads Unknown). Style, turnover, horizon and book size are measured from each filer's 13F book in the newest measured quarter, and Not measured means none was. Actively managed books are those measured systematic-like, concentrated or diversified active.

Excluded 1 holder with no observed 2026-06-30 13F.

Conviction and Crowding

91 13F filers, quarter ended Jun 30, 2026

Measured across every 13F filer's common-share book once the quarter's filing window closed. Crowding counts filers with high turnover or that advise private funds on Form ADV.

Conviction holders
2
2.20% of filers hold it in their top 10
Mar 31, 2026: 2
Holders above 5%
1
median weight 0.004%
Mar 31, 2026: 1
Crowding
—
no cover-page share count is dated within about a year of the quarter end
Private-fund advisers
—
of shares outstanding
Institutional ownership
—
no cover-page share count is dated within about a year of the quarter end
Top 10 holders
80.8%
of 13F shares, Herfindahl 0.096
Active holders
+5.3%
like-for-like share change of active filers
5% stakes on record
4
2 13D, 2 13G (2 institutional, 0 passive, 0 exempt)
How long holders have held it value-weighted 16.4 quarters
Under 1 year 6.72% 1 to 3 years 33.5% 3 years or more 59.8% Since coverage start 0.000%

Managers in the top fifth by current three-year FundScore alpha were net buyers of $0 (0 buying, 0 selling).

Estimated Holder Cost Basis

Quarter ended Jun 30, 2026, on that quarter's share basis

Estimated, never filed: each 13F buy is costed at its quarter's average traded price and each sale keeps the average cost, so this is what holders paid on average if they traded evenly through each quarter.

Estimated avg cost
$6.44
estimated per share
Mar 31, 2026: $6.43
Quarter-end price
$7.13
implied by 13F values
Estimated gain or loss
+10.7%
price against the estimated cost
Estimated at a loss
8.80%
of costed 13F value

Estimated cost covers 46.5% of the 13F shares; positions already held when a filer's 13F history starts, or bought in a quarter without a trusted average price, have no estimate.

Fund Ownership of HFRO by Fund Type

Registered funds' Form N-PORT reports for the quarter ended Jun 30, 2026

Index funds and index ETFs hold 2.57% of shares outstanding.

Fund type Of shares outstanding Shares
Index funds 0.00% 0
Index ETFs 2.57% 1,421,078
Active ETFs 1.87% 1,030,560
Active funds 1.38% 764,308
Unclassified 5.64% 3,115,253
All registered funds 11.47% 6,331,199
How fund types are measured

Each fund series counts once, with its latest Form N-PORT report dated inside the quarter; only long share positions count, restated to today's split basis. The fund type is the series' latest Form N-CEN answer on or before the quarter end (the index-fund box and the exchange-traded flag), never its name. Unclassified funds have no usable N-CEN; unit investment trusts are among them, so index ownership is a floor. Funds sit inside their advisers' 13F reports, so these shares overlap the 13F figures and are never added to them.

Holder type: Registered adviser 50 Exempt adviser 1 Adviser 2 Bank 4 Broker-dealer 1 Holding company 5 Unknown 25
Showing 88 of 88
All Common Calls Puts
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Holder Value (USD) % of 13F Shares Open
Saba Capital Management, L.P. $42,610,334 18.92% 5,976,204
NEXPOINT ASSET MANAGEMENT, L.P. $32,792,972 14.56% 4,599,295
RAYMOND JAMES FINANCIAL INC $28,374,717 12.60% 3,979,624
Thomas J. Herzfeld Advisors, Inc. $19,083,259 8.47% 2,676,474
MORGAN STANLEY $17,738,197 7.88% 2,487,826
ENVESTNET ASSET MANAGEMENT INC $15,568,098 6.91% 2,183,464
Invesco Ltd. $8,279,377 3.68% 1,161,203
Atlas Wealth LLC $7,350,858 3.26% 1,030,976
Cambridge Investment Research Advisors, Inc. $6,735,661 2.99% 944,693
Matisse Capital $4,399,210 1.95% 617,000
LPL Financial LLC $4,385,441 1.95% 615,069
ROYAL BANK OF CANADA $3,881,428 1.72% 544,380
Geneos Wealth Management Inc. $3,747,085 1.66% 525,538
OPPENHEIMER & CO INC $3,411,545 1.51% 512,244
Altium Capital Management LLC $2,260,602 1.00% 317,055
Camelot Portfolios, LLC $2,210,606 0.98% 310,043
Closed-End Fund Advisors, Inc. $1,690,287 0.75% 237,067
CHOREO, LLC $1,365,852 0.61% 205,083
LANDSCAPE CAPITAL MANAGEMENT, L.L.C. $1,293,352 0.57% 181,396
BLUE BELL PRIVATE WEALTH MANAGEMENT, LLC $1,256,762 0.56% 176,264
NewEdge Advisors, LLC $1,233,960 0.55% 173,066
PARK AVENUE SECURITIES LLC $1,147,378 0.51% 172,279
Aristides Capital LLC $1,024,623 0.45% 143,706
IHT Wealth Management, LLC $979,669 0.43% 137,401
GRATIA CAPITAL, LLC $889,289 0.39% 124,725
NATIONS FINANCIAL GROUP INC, /IA/ /ADV $872,120 0.39% 122,317
HighTower Advisors, LLC $783,636 0.35% 109,907
Baird Financial Group, Inc. $683,082 0.30% 95,804
OSAIC HOLDINGS, INC. $681,164 0.30% 95,535
Calamos Advisors LLC $571,833 0.25% 80,201
Creative Planning $488,775 0.22% 68,552
HARBOUR INVESTMENTS, INC. $464,305 0.21% 65,120
Financial Solutions Advisory Group, Inc. $462,210 0.21% 69,401
Ariadne Wealth Management, LP $377,276 0.17% 52,914
Cetera Investment Advisers $363,408 0.16% 50,969
XTX Topco Ltd $346,304 0.15% 48,570
AEGON USA Investment Management, LLC $339,523 0.15% 47,619
GILPIN WEALTH MANAGEMENT, LLC $334,671 0.15% 50,251
SUSQUEHANNA INTERNATIONAL GROUP, LLP $309,627 0.14% 43,426
JANE STREET GROUP, LLC $289,912 0.13% 40,661
MERCER GLOBAL ADVISORS INC /ADV $255,475 0.11% 35,831
CSS LLC/IL $231,839 0.10% 32,516
Papamarkou Wellner Asset Management inc. $213,900 0.09% 30,000
UBS Group AG $213,492 0.09% 29,943
EVOLVE PRIVATE WEALTH, LLC $205,964 0.09% 28,887
Abel Hall, LLC $199,800 0.09% 30,000
INDEPENDENT FINANCIAL GROUP, LLC $193,932 0.09% 29,119
INTEGRATED CAPITAL MANAGEMENT, INC. $179,620 0.08% 26,970
Mariner, LLC $179,048 0.08% 25,112
North Ground Capital $176,332 0.08% 24,731
Samalin Investment Counsel, LLC $167,359 0.07% 25,129
MELFA WEALTH MANAGEMENT, INC. $134,443 0.06% 18,856
MML INVESTORS SERVICES, LLC $133,209 0.06% 18,683
One Charles Private Wealth Services, LLC $122,978 0.05% 17,248
B. Riley Wealth Advisors, Inc. $117,635 0.05% 17,663
Kestra Advisory Services, LLC $111,163 0.05% 15,591
GOLDMAN SACHS GROUP INC $108,005 0.05% 15,148
NOMURA HOLDINGS INC $106,950 0.05% 15,000
Keystone Wealth Services, LLC $104,839 0.05% 14,704
Capital Investment Advisory Services, LLC $93,231 0.04% 13,076
STEPHENS INC /AR/ $90,857 0.04% 12,743
COMMONWEALTH EQUITY SERVICES, LLC $90,472 0.04% 12,689
Koshinski Asset Management, Inc. $82,886 0.04% 11,625
Janney Montgomery Scott LLC $82,208 0.04% 11,530
Bulldog Investors, LLP $76,397 0.03% 10,715
K2 PRINCIPAL FUND, L.P. $71,535 0.03% 10,033
Post Resch Tallon Group Inc. $69,903 0.03% 10,496
Rockefeller Capital Management L.P. $66,914 0.03% 9,385
WELLS FARGO & COMPANY/MN $46,380 0.02% 6,505
FIFTH THIRD BANCORP $43,892 0.02% 6,156
Arax Advisory Partners $35,963 0.02% 5,044
Basepoint Wealth LLC $26,174 0.01% 3,671
IFP Advisors, Inc $25,774 0.01% 3,870
Triumph Capital Management $21,978 0.01% 3,300
Byrne Asset Management LLC $11,988 0.01% 1,800
Cassaday & Co Wealth Management LLC $11,754 0.01% 1,765
Latitude Advisors, LLC $9,124 0.00% 1,370
Steward Partners Investment Advisory, LLC $8,990 0.00% 1,261
Spire Wealth Management $3,565 0.00% 500
HIGHLINE WEALTH PARTNERS LLC $2,610 0.00% 392
CALDWELL SUTTER CAPITAL, INC. $2,032 0.00% 285
GABLES CAPITAL MANAGEMENT INC. $1,917 0.00% 269
SHP Wealth Management $1,504 0.00% 211
Cedar Mountain Advisors, LLC $546 0.00% 82
FMR LLC $163 0.00% 23
Strategic Wealth Partners, Ltd. $42 0.00% 6
Vision Retirement, LLC $21 0.00% 3
Kilter Group LLC $7 0.00% 1
Key facts CIK 1710680 CUSIP 43010E404 13F (30d) 18 filings 18 filers Visit website