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

Ursa Fund 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
2019 Q4	–	Sell	-1,553,385	Closed	-$20.7M	–	18
2019 Q3	$20.7M	Buy	1,553,385 +185,966	+14%	+$2.48M	14.75%	4
2019 Q2	$18.9M	Hold	1,367,419	–	–	1.15%	7
2019 Q1	$18.9M	Hold	1,367,419	–	–	1.57%	6
2018 Q4	$17.5M	Buy	1,367,419 +515,265	+60%	+$7.58M	0.74%	12
2018 Q3	$13.1M	Buy	852,154 +52,154	+7%	+$821K	0.35%	10
2018 Q2	$12.5M	Buy	800,000 +350,000	+78%	+$5.57M	0.85%	11
2018 Q1	$7.2M	Buy	450,000 +380,000	+543%	+$5.99M	0.33%	11
2017 Q4	$1.08M	Buy	+70,000	New	+$1.07M	0.04%	14

Other funds holding HFRO

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

RCM

Rivernorth Capital Management West Palm Beach, Florida $2B AUM 0.66% 1-Year Est. Return

UCFA

United Capital Financial Advisors Irving, Texas $16.3B AUM 16.34% 1-Year Est. Return

DKCM

Davidson Kempner Capital Management New York $7.33B AUM 56.47% 1-Year Est. Return

RJA

Raymond James & Associates St Petersburg, Florida $164B AUM 33.91% 1-Year Est. Return

BlackRock New York $5.72T AUM 30.48% 1-Year Est. Return

BCIM

Burford Capital Investment Management Chicago, Illinois $6.17M AUM 38.81% 1-Year Est. Return

TJHA

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

COLIM

City of London Investment Management London, United Kingdom $1.38B AUM 42.43% 1-Year Est. Return

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

Ursa Fund Management's HFRO Position: Q4 2019 in Review

Ursa Fund Management sold out of Highland Opportunities and Income Fund (HFRO) in Q4 2019, closing a stake of 1,553,385 shares — an estimated $20.7M sold.

Ursa Fund Management first reported a position in HFRO in Q4 2017 and held it in 8 quarters. The position peaked at $20.7M in Q3 2019. 104 funds tracked by Wall St. Rank hold HFRO as of Q4 2019.

Ursa Fund Management reported no remaining Highland Opportunities and Income Fund position as of Q4 2019 after selling out during the quarter.
Ursa Fund Management sold 1,553,385 Highland Opportunities and Income Fund shares in Q4 2019, an estimated $20.7M.
Ursa Fund Management first reported a position in Highland Opportunities and Income Fund in Q4 2017 and held it in 8 quarters.
Ursa Fund Management's Highland Opportunities and Income Fund position peaked at $20.7M in Q3 2019.
104 funds tracked by Wall St. Rank held Highland Opportunities and Income Fund as of Q4 2019.

Based on Ursa Fund Management's 13F filing for Q4 2019, filed 29 Jan 2020.