Special Opportunities Fund
SPE
38 hedge funds and large institutions have $45.7M invested in Special Opportunities Fund in 2025 Q2 according to their latest regulatory filings, with 2 funds opening new positions, 13 increasing their positions, 9 reducing their positions, and 3 closing their positions.
44% more repeat investments, than reductions
Existing positions increased: 13 | Existing positions reduced: 9
2% more capital inflows, than outflows
Capital inflows: $3.37M | Capital outflows: $3.31M
1.33% less ownership
Funds ownership: 27.73% → 26.4% (-1.3%)
3% less funds holding
Funds holding: 39 → 38 (-1)
33% less first-time investments, than exits
New positions opened: 2 | Existing positions closed: 3
Top Buyers
| Rank | Fund | Capital Flow |
|---|---|---|
| 1 |
Shaker Financial Services
Arlington,
Virginia
|
+$2.81M |
| 2 |
Scotia Capital
Toronto,
Ontario, Canada
|
+$96.7K |
| 3 |
Cetera Investment Advisers
Schaumburg,
Illinois
|
+$56.4K |
| 4 |
Ancora Advisors
Cleveland,
Ohio
|
+$44.4K |
| 5 |
Advisors Asset Management
Monument,
Colorado
|
+$34K |
Top Sellers
| Rank | Fund | Capital Flow |
|---|---|---|
| 1 |
Kovitz Investment Group Partners
Chicago,
Illinois
|
-$860K |
| 2 |
CL
CSS LLC
Chicago,
Illinois
|
-$733K |
| 3 |
Morgan Stanley
New York
|
-$678K |
| 4 |
GatePass Capital
Independence,
Ohio
|
-$381K |
| 5 |
Susquehanna International Group
Bala Cynwyd,
Pennsylvania
|
-$308K |
SPE Hedge Fund Activity: Q2 2025 in Review
38 of the 7,628 institutional investors tracked by Wall St. Rank reported a position in Special Opportunities Fund (SPE) for Q2 2025, worth a combined $45.7M — up 3.3% from $44.3M a quarter earlier.
Sellers outnumbered buyers: 3 funds closed out of SPE and 2 opened new positions — a net loss of 1 holder — while 9 trimmed existing stakes and 13 added.
The largest buyer was Shaker Financial Services, adding an estimated $2.81M. The largest seller was Kovitz Investment Group Partners, cutting an estimated $860K.
- 38 institutional investors held Special Opportunities Fund (SPE) as of Q2 2025, down from 39 in Q1 2025.
- Funds reported $45.7M of Special Opportunities Fund stock for Q2 2025, up 3.3% quarter-over-quarter.
- 2 funds opened new Special Opportunities Fund positions in Q2 2025 and 3 closed out, a net change of -1 holder.
- The largest Special Opportunities Fund buyer in Q2 2025 was Shaker Financial Services, an estimated $2.81M added.
- The largest Special Opportunities Fund seller in Q2 2025 was Kovitz Investment Group Partners, an estimated $860K sold.
Based on aggregated 13F filings for Q2 2025.