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HFRO

Highland Opportunities and Income Fund
HFRO

112 hedge funds and large institutions have $280M invested in Highland Opportunities and Income Fund in 2020 Q1 according to their latest regulatory filings, with 25 funds opening new positions, 31 increasing their positions, 37 reducing their positions, and 14 closing their positions.

New
Increased
Maintained
Reduced
Closed

79% more first-time investments, than exits

New positions opened: 25 | Existing positions closed: 14

14% more funds holding in top 10

Funds holding in top 10: 7 → 8 (+1)

8% more funds holding

Funds holding: 104 → 112 (+8)

0.59% more ownership

Funds ownership: 45.14% → 45.73% (+0.59%)

16% less repeat investments, than reductions

Existing positions increased: 31 | Existing positions reduced: 37

30% less capital invested

Capital invested by funds: $403M → $280M (-$123M)

Holders
112
Holders Change
+8
Holders Change %
+7.69%
% of All Funds
2.47%
Holding in Top 10
8
Holding in Top 10 Change
+1
Holding in Top 10 Change %
+14.29%
% of All Funds
0.18%
New
25
Increased
31
Reduced
37
Closed
14
Calls
–
Puts
–
Net Calls
–
Net Calls Change
–

Top Buyers

Rank Fund Capital Flow
1
MC
Matisse Capital
Oregon
+$12.3M
2
AWA
Arete Wealth Advisors
Illinois
+$7.14M
3
TJHA
Thomas J. Herzfeld Advisors
Florida
+$6.64M
4
OCM
Oaktree Capital Management
California
+$5.48M
5
AC
Aristides Capital
Kentucky
+$4.41M

Top Sellers

Rank Fund Capital Flow
1
Invesco
Invesco
Georgia
-$12.2M
2
BCIM
Burford Capital Investment Management
Illinois
-$9.45M
3
Public Sector Pension Investment Board (PSP Investments)
Public Sector Pension Investment Board (PSP Investments)
Quebec, Canada
-$4M
4
Millennium Management
Millennium Management
New York
-$3.05M
5
Morgan Stanley
Morgan Stanley
New York
-$2.58M
Name Holding Trade Value Shares
Change 		Change in
Stake
AIC
101
Ameritas Investment Company
Nebraska
$6K +$8.54K +732 New
TCM
102
Tradewinds Capital Management
Washington
$5K – – –
FHA
103
Flagship Harbor Advisors
Massachusetts
$4K – – –
DWM
104
Darwin Wealth Management
Florida
$4K +$6.11K +524 New
SIS
105
Sound Income Strategies
Florida
$3K – – –
CTC
106
Central Trust Company
Missouri
$3K +$3.72K +319 New
NFG
107
Next Financial Group
Texas
$2K -$6.74K -578 -73%
CMA
108
Cedar Mountain Advisors
Oregon
$1K – – –
SFS
109
Sowell Financial Services
Arkansas
$1K – – –
OPS
110
Orion Portfolio Solutions
Nebraska
$1K +$863 +74 New
Public Sector Pension Investment Board (PSP Investments)
111
Public Sector Pension Investment Board (PSP Investments)
Quebec, Canada
– -$4M -321,776 Closed
Millennium Management
112
Millennium Management
New York
– -$3.05M -245,261 Closed
BI
113
Bulldog Investors
New Jersey
– -$1.48M -119,276 Closed
STA
114
Summit Trail Advisors
New York
– -$993K -79,896 Closed
JG
115
Jefferies Group
New York
– -$971K -78,100 Closed
IAA
116
Independent Advisor Alliance
North Carolina
– -$849K -68,311 Closed
MCM
117
Moore Capital Management
New York
– -$835K -67,169 Closed
HIM
118
Hanlon Investment Management
New Jersey
– -$626K -50,333 Closed
CF
119
Centaurus Financial
California
– -$253K -20,343 Closed
BRF
120
B. Riley Financial
California
– -$249K -20,000 Closed
RJT
121
Raymond James Trust
Florida
– -$142K -11,421 Closed
Ameriprise
122
Ameriprise
Minnesota
– -$133K -10,672 Closed
FIA
123
FNY Investment Advisers
New York
– -$112K -9,042 Closed
BAM
124
Belpointe Asset Management
Nevada
– -$104K -8,382 Closed
Fidelity Investments
125
Fidelity Investments
Massachusetts
– +$23 +2 +200%
2 3 4
5
6

HFRO Hedge Fund Activity: Q1 2020 in Review

112 of the 4,538 institutional investors tracked by Wall St. Rank reported a position in Highland Opportunities and Income Fund (HFRO) for Q1 2020, worth a combined $280M — down 30% from $403M a quarter earlier.

Buyers outnumbered sellers: 25 funds opened new HFRO positions and 14 closed out — a net gain of 11 holders — while 31 added to existing stakes and 37 trimmed.

The largest buyer was Matisse Capital, adding an estimated $12.3M. The largest seller was Invesco, cutting an estimated $12.2M.

  • 112 institutional investors held Highland Opportunities and Income Fund (HFRO) as of Q1 2020, up from 104 in Q4 2019.
  • Funds reported $280M of Highland Opportunities and Income Fund stock for Q1 2020, down 30% quarter-over-quarter.
  • 25 funds opened new Highland Opportunities and Income Fund positions in Q1 2020 and 14 closed out, a net change of +11 holders.
  • The largest Highland Opportunities and Income Fund buyer in Q1 2020 was Matisse Capital, an estimated $12.3M added.
  • The largest Highland Opportunities and Income Fund seller in Q1 2020 was Invesco, an estimated $12.2M sold.

Based on aggregated 13F filings for Q1 2020.