Special Opportunities Fund
SPE
37 hedge funds and large institutions have $44.2M invested in Special Opportunities Fund in 2025 Q1 according to their latest regulatory filings, with 7 funds opening new positions, 11 increasing their positions, 9 reducing their positions, and 8 closing their positions.
22% more repeat investments, than reductions
Existing positions increased: 11 | Existing positions reduced: 9
4% less capital invested
Capital invested by funds: $45.9M → $44.2M (-$1.7M)
1.92% less ownership
Funds ownership: 30.88% → 28.96% (-1.9%)
5% less funds holding
Funds holding: 39 → 37 (-2)
13% less first-time investments, than exits
New positions opened: 7 | Existing positions closed: 8
Top Buyers
| Rank | Fund | Capital Flow |
|---|---|---|
| 1 |
AAM
Advisors Asset Management
Monument,
Colorado
|
+$1.7M |
| 2 |
GC
GatePass Capital
Independence,
Ohio
|
+$530K |
| 3 |
Envestnet Asset Management
Chicago,
Illinois
|
+$368K |
| 4 |
Susquehanna International Group
Bala Cynwyd,
Pennsylvania
|
+$311K |
| 5 |
Cetera Investment Advisers
Schaumburg,
Illinois
|
+$297K |
Top Sellers
| Rank | Fund | Capital Flow |
|---|---|---|
| 1 |
RCM
Rivernorth Capital Management
West Palm Beach,
Florida
|
-$1.5M |
| 2 |
IAA
Independent Advisor Alliance
Charlotte,
North Carolina
|
-$1.38M |
| 3 |
SFS
Shaker Financial Services
Arlington,
Virginia
|
-$1.23M |
| 4 |
CL
CSS LLC
Chicago,
Illinois
|
-$532K |
| 5 |
JFG
Jefferies Financial Group
New York
|
-$439K |
SPE Hedge Fund Activity: Q1 2025 in Review
37 of the 7,461 institutional investors tracked by Wall St. Rank reported a position in Special Opportunities Fund (SPE) for Q1 2025, worth a combined $44.2M — down 3.7% from $45.9M a quarter earlier.
Sellers outnumbered buyers: 8 funds closed out of SPE and 7 opened new positions — a net loss of 1 holder — while 9 trimmed existing stakes and 11 added.
The largest buyer was Advisors Asset Management, opening a new position worth an estimated $1.7M. The largest seller was Rivernorth Capital Management, cutting an estimated $1.5M.
- 37 institutional investors held Special Opportunities Fund (SPE) as of Q1 2025, down from 39 in Q4 2024.
- Funds reported $44.2M of Special Opportunities Fund stock for Q1 2025, down 3.7% quarter-over-quarter.
- 7 funds opened new Special Opportunities Fund positions in Q1 2025 and 8 closed out, a net change of -1 holder.
- The largest Special Opportunities Fund buyer in Q1 2025 was Advisors Asset Management, an estimated $1.7M added.
- The largest Special Opportunities Fund seller in Q1 2025 was Rivernorth Capital Management, an estimated $1.5M sold.
Based on aggregated 13F filings for Q1 2025.