Sage Capital Management’s Highland Opportunities and Income Fund HFRO Stock Holding History

Sage Capital Management’s Portfolio HFRO Stock Details HFRO Fund Activity

Bought

Maintained

Sold

Quarter	Market Value	Status	Shares	Change in Stake	Trade Value	Portfolio Weight	Portfolio Position
2025 Q3	–	Sell	-15,129	Closed	-$78.7K	–	161
2025 Q2	$78.7K	Sell	15,129 -11,047	-42%	-$55.8K	0.04%	154
2025 Q1	$136K	Sell	26,176 -12,066	-32%	-$66.7K	0.07%	145
2024 Q4	$198K	Sell	38,242 -63,196	-62%	-$358K	0.1%	141
2024 Q3	$622K	Sell	101,438 -16,503	-14%	-$100K	0.3%	73
2024 Q2	$737K	Sell	117,941 -29,663	-20%	-$190K	0.39%	63
2024 Q1	$1.04M	Sell	147,604 -23,108	-14%	-$156K	0.56%	48
2023 Q4	$1.31M	Buy	+170,712	New	+$1.35M	0.79%	37

Other funds holding HFRO

SCM

Saba Capital Management New York $3.62B AUM 13% 1-Year Est. Return

Raymond James Financial St Petersburg, Florida $324B AUM 22.36% 1-Year Est. Return

Morgan Stanley New York $1.66T AUM 25.57% 1-Year Est. Return

NAM

Nexpoint Asset Management Dallas, Texas $1.49B AUM 61.08% 1-Year Est. Return

TJHA

Thomas J. Herzfeld Advisors Miami Beach, Florida $294M AUM 2.62% 1-Year Est. Return

Envestnet Asset Management Chicago, Illinois $374B AUM 17.66% 1-Year Est. Return

Invesco Atlanta, Georgia $1.02T AUM 30.18% 1-Year Est. Return

GWM

Geneos Wealth Management Englewood, Colorado $4.31B AUM 18.36% 1-Year Est. Return

Cambridge Investment Research Advisors Fairfield, Iowa $38.8B AUM 21.88% 1-Year Est. Return

Royal Bank of Canada Toronto, Ontario, Canada $570B AUM 27.57% 1-Year Est. Return

Sage Capital Management's HFRO Position: Q3 2025 in Review

Sage Capital Management sold out of Highland Opportunities and Income Fund (HFRO) in Q3 2025, closing a stake of 15,129 shares — an estimated $78.7K sold.

Sage Capital Management first reported a position in HFRO in Q4 2023 and held it in 7 quarters. The position peaked at $1.31M in Q4 2023. 94 funds tracked by Wall St. Rank hold HFRO as of Q3 2025.

Sage Capital Management reported no remaining Highland Opportunities and Income Fund position as of Q3 2025 after selling out during the quarter.
Sage Capital Management sold 15,129 Highland Opportunities and Income Fund shares in Q3 2025, an estimated $78.7K.
Sage Capital Management first reported a position in Highland Opportunities and Income Fund in Q4 2023 and held it in 7 quarters.
Sage Capital Management's Highland Opportunities and Income Fund position peaked at $1.31M in Q4 2023.
94 funds tracked by Wall St. Rank held Highland Opportunities and Income Fund as of Q3 2025.

Based on Sage Capital Management's 13F filing for Q3 2025, filed 28 Oct 2025.