Highland Opportunities and Income Fund
HFRO
95 hedge funds and large institutions have $173M invested in Highland Opportunities and Income Fund in 2026 Q1 according to their latest regulatory filings, with 5 funds opening new positions, 30 increasing their positions, 31 reducing their positions, and 12 closing their positions.
1.21% more ownership
Funds ownership: 53.61% → 54.83% (+1.2%)
0% more funds holding in top 10
Funds holding in top 10: 2 → 2 (0)
2% less capital invested
Capital invested by funds: $177M → $173M (-$4.21M)
3% less repeat investments, than reductions
Existing positions increased: 30 | Existing positions reduced: 31
10% less funds holding
Funds holding: 105 → 95 (-10)
58% less first-time investments, than exits
New positions opened: 5 | Existing positions closed: 12
Top Buyers
| Rank | Fund | Capital Flow |
|---|---|---|
| 1 |
SCM
Saba Capital Management
New York
|
+$2.88M |
| 2 |
NAM
Nexpoint Asset Management
Dallas,
Texas
|
+$2.78M |
| 3 |
TJHA
Thomas J. Herzfeld Advisors
Miami Beach,
Florida
|
+$1.57M |
| 4 |
HI
Harbour Investments
Madison,
Wisconsin
|
+$867K |
| 5 |
ACM
Altium Capital Management
New York
|
+$817K |
Top Sellers
| Rank | Fund | Capital Flow |
|---|---|---|
| 1 |
Morgan Stanley
New York
|
-$1.7M |
| 2 |
GWM
Geneos Wealth Management
Englewood,
Colorado
|
-$1.56M |
| 3 |
CC
CF Capital
Cohasset,
Massachusetts
|
-$1.04M |
| 4 |
Jane Street
New York
|
-$518K |
| 5 |
MG
Marex Group
London,
|
-$488K |
| Name | Holding | Trade Value |
Shares Change |
Change in Stake |
|
|---|---|---|---|---|---|
|
SSG
101
Summit Securities Group
New York
| – | -$33.8K | -5,658 | Closed |
|
|
PWPS
102
Pinnacle Wealth Planning Services
Mansfield,
Ohio
| – | -$15.1K | -2,520 | Closed |
|
103
AssetMark Inc
Concord,
California
| – | -$8.97K | -1,500 | Closed |
|
|
FHA
104
Flagship Harbor Advisors
Boston,
Massachusetts
| – | -$5.85K | -977 | Closed |
|
|
TRCT
105
Tower Research Capital (TRC)
New York
| – | -$2.45K | -409 | Closed |
|
|
SIS
106
Sound Income Strategies
Ft Lauderdale,
Florida
| – | -$2.41K | -382 | Closed |
|
|
IWM
107
Inlight Wealth Management
Atlanta,
Georgia
| – | -$951 | -159 | Closed |
|
HFRO Hedge Fund Activity: Q1 2026 in Review
95 of the 8,126 institutional investors tracked by Wall St. Rank reported a position in Highland Opportunities and Income Fund (HFRO) for Q1 2026, worth a combined $173M — down 2.4% from $177M a quarter earlier.
Sellers outnumbered buyers: 12 funds closed out of HFRO and 5 opened new positions — a net loss of 7 holders — while 31 trimmed existing stakes and 30 added.
The largest buyer was Saba Capital Management, adding an estimated $2.88M. The largest seller was Morgan Stanley, cutting an estimated $1.7M.
- 95 institutional investors held Highland Opportunities and Income Fund (HFRO) as of Q1 2026, down from 105 in Q4 2025.
- Funds reported $173M of Highland Opportunities and Income Fund stock for Q1 2026, down 2.4% quarter-over-quarter.
- 5 funds opened new Highland Opportunities and Income Fund positions in Q1 2026 and 12 closed out, a net change of -7 holders.
- The largest Highland Opportunities and Income Fund buyer in Q1 2026 was Saba Capital Management, an estimated $2.88M added.
- The largest Highland Opportunities and Income Fund seller in Q1 2026 was Morgan Stanley, an estimated $1.7M sold.
Based on aggregated 13F filings for Q1 2026.