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SPE

Special Opportunities Fund
SPE

44 hedge funds and large institutions have $44.6M invested in Special Opportunities Fund in 2025 Q4 according to their latest regulatory filings, with 5 funds opening new positions, 5 increasing their positions, 34 reducing their positions, and 2 closing their positions.

New
Increased
Maintained
Reduced
Closed

150% more first-time investments, than exits

New positions opened: 5 | Existing positions closed: 2

7% more funds holding

Funds holding: 41 → 44 (+3)

1.07% less ownership

Funds ownership: 29.44% → 28.37% (-1.1%)

9% less capital invested

Capital invested by funds: $48.7M → $44.6M (-$4.17M)

85% less repeat investments, than reductions

Existing positions increased: 5 | Existing positions reduced: 34

100% less funds holding in top 10

Funds holding in top 10: 1 → 0 (-1)

Holders
44
Holders Change
+3
Holders Change %
+7.32%
% of All Funds
0.54%
Holding in Top 10
–
Holding in Top 10 Change
-1
Holding in Top 10 Change %
-100%
% of All Funds
–
New
5
Increased
5
Reduced
34
Closed
2
Calls
–
Puts
–
Net Calls
–
Net Calls Change
–

Top Buyers

1
Focus Partners Wealth
Focus Partners Wealth
Massachusetts
+$19.3M
2
Susquehanna International Group
Susquehanna International Group
Pennsylvania
+$195K
3
First Manhattan
First Manhattan
New York
+$103K
4
Cetera Investment Advisers
Cetera Investment Advisers
Illinois
+$68.5K
5
Raymond James Financial
Raymond James Financial
Florida
+$50.3K

Top Sellers

1
Kovitz Investment Group Partners
Kovitz Investment Group Partners
Illinois
-$21.4M
2
SFS
Shaker Financial Services
Virginia
-$1.76M
3
Morgan Stanley
Morgan Stanley
New York
-$156K
4
GC
GatePass Capital
Ohio
-$129K
5
WAM
Wolverine Asset Management
Illinois
-$97.3K
Name Holding Trade Value Shares
Change 		Change in
Stake
NAS
26
NWF Advisory Services
California
$200K -$26.1K -1,788 -12%
Susquehanna International Group
27
Susquehanna International Group
Pennsylvania
$196K +$195K +13,367 New
Wells Fargo
28
Wells Fargo
California
$174K -$44.8K -3,063 -21%
HighTower Advisors
29
HighTower Advisors
Illinois
$156K -$6.78K -464 -4%
KFAS
30
Keating Financial Advisory Services
Kansas
$78K +$77.6K +5,308 New
MCM
31
MAI Capital Management
Ohio
$76.4K -$3.57K -244 -4%
UBS Group
32
UBS Group
Switzerland
$72.5K -$26.3K -1,801 -27%
GRP
33
Global Retirement Partners
California
$49.7K -$1.2K -82 -2%
Royal Bank of Canada
34
Royal Bank of Canada
Ontario, Canada
$32K -$1.48K -101 -4%
NA
35
NewEdge Advisors
Louisiana
$31.8K -$1.48K -101 -4%
WC
36
Winmill & Co
New York
$29.4K -$1.37K -94 -4%
KAS
37
Kestra Advisory Services
Texas
$22K +$21.9K +1,495 New
WAM
38
Wolverine Asset Management
Illinois
$13.8K -$97.3K -6,654 -88%
Rockefeller Capital Management
39
Rockefeller Capital Management
New York
$13.1K -$614 -42 -5%
ITIM
40
Indiana Trust & Investment Management
Indiana
$11.9K +$11.8K +810 New
EB
41
Eastern Bank
Massachusetts
$10.7K -$497 -34 -4%
SIS
42
Sound Income Strategies
Florida
$10.5K -$249 -17 -2%
HWP
43
Highline Wealth Partners
California
$2.94K -$132 -9 -4%
CFO
44
CVA Family Office
Colorado
$573 -$29 -2 -5%
Kovitz Investment Group Partners
45
Kovitz Investment Group Partners
Illinois
– -$21.4M -1,448,125 Closed
ASN
46
Advisory Services Network
Georgia
– -$13.7K -923 Closed
1
2

SPE Hedge Fund Activity: Q4 2025 in Review

44 of the 8,223 institutional investors tracked by Wall St. Rank reported a position in Special Opportunities Fund (SPE) for Q4 2025, worth a combined $44.6M — down 8.5% from $48.7M a quarter earlier.

Buyers outnumbered sellers: 5 funds opened new SPE positions and 2 closed out — a net gain of 3 holders — while 5 added to existing stakes and 34 trimmed.

The largest buyer was Focus Partners Wealth, opening a new position worth an estimated $19.3M. The largest seller was Kovitz Investment Group Partners, exiting entirely with an estimated $21.4M sold.

  • 44 institutional investors held Special Opportunities Fund (SPE) as of Q4 2025, up from 41 in Q3 2025.
  • Funds reported $44.6M of Special Opportunities Fund stock for Q4 2025, down 8.5% quarter-over-quarter.
  • 5 funds opened new Special Opportunities Fund positions in Q4 2025 and 2 closed out, a net change of +3 holders.
  • The largest Special Opportunities Fund buyer in Q4 2025 was Focus Partners Wealth, an estimated $19.3M added.
  • The largest Special Opportunities Fund seller in Q4 2025 was Kovitz Investment Group Partners, an estimated $21.4M sold.

Based on aggregated 13F filings for Q4 2025.