Highland Opportunities & Income Fund

HFRO

Exchange: NYSE
SEC CIK: 0001710680

SEC filings (opens in a new tab)

No open-market purchases or sales by Highland Opportunities & Income Fund insiders were filed in the last 90 days; 92 institutions reported holding it in 13F filings for Q2 2026, worth $226.5M in total; no superinvestor holds it.

Other share classesHFRO.PA HFRO.PB

Key figures

Market capNo recent share count in SEC filings: –
Insider buysOpen market, last 90 days: 0
Insider sellsOpen market, last 90 days: 0
13F holdersQ2 2026, −2 vs. previous quarter: 92
13F valueReported value at the end of Q2 2026: $226.5M
Superinvestors holdingAt the end of Q2 2026: 0

Price chart

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Short interest

See short data

From FINRA, settlement date Oct 30, 2026.

Short interest: 11.2K; Shares sold short
Change: −30.0K; −72.8% vs. previous
Days to cover: 1.00; At average daily volume

Superinvestors holding HFRO, Q2 2026

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No superinvestor reported holding HFRO at the end of Q2 2026.

Latest insider trades

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Open-market purchases and sales by Highland Opportunities & Income Fund insiders from Form 4, newest first.

Insider trades
Filed (ET)	Trade date	Filing delay	Insider	Transaction	Shares	Avg price	Value	Holding change	Flags
Jun 11, 2026 (view filing)	Jun 9	2 days	Saba Capital Management, L.P.10% Owner	PPurchase	+123.6K	$6.88	+$850.3K	+2.1%5.98M after
Jun 8, 2026 (view filing)	Jun 4-5	4 days	Saba Capital Management, L.P.10% Owner	PPurchase	+24.8K	$6.72	+$166.5K	+0.4%5.85M after	2 lots
Jun 4, 2026 (view filing)	Jun 3	1 day	Saba Capital Management, L.P.10% Owner	PPurchase	+28.4K	$6.66	+$189.4K	+0.5%5.83M after
Jun 3, 2026 (view filing)	Jun 1-2	2 days	Saba Capital Management, L.P.10% Owner	PPurchase	+83.9K	$6.70	+$561.9K	+1.5%5.80M after	2 lots
Jun 1, 2026 (view filing)	May 28-29	4 days	Saba Capital Management, L.P.10% Owner	PPurchase	+41.9K	$6.54	+$273.9K	+0.7%5.72M after	2 lots
May 28, 2026 (view filing)	May 26	2 days	Saba Capital Management, L.P.10% Owner	PPurchase	+15.9K	$6.27	+$99.4K	+0.3%5.67M after
May 26, 2026 (view filing)	May 21	5 days	Saba Capital Management, L.P.10% Owner	PPurchase	+20.5K	$6.25	+$128.1K	+0.4%5.66M after
May 21, 2026 (view filing)	May 19-20	2 days	Saba Capital Management, L.P.10% Owner	PPurchase	+63.0K	$6.21	+$391.2K	+1.1%5.64M after	2 lots
May 19, 2026 (view filing)	May 18	1 day	Saba Capital Management, L.P.10% Owner	PPurchase	+16.1K	$6.18	+$99.5K	+0.3%5.57M after
Dec 6, 2022 (view filing)	Dec 5	1 day	Froehlich Robert JDirector	SSale	−767	$11.21	−$8.60K	−30.2%1.77K after

Top 10 13F holders, Q2 2026

See all 92 holders

The largest institutional positions in Highland Opportunities & Income Fund at the end of Q2 2026; share changes are against Q1 2026.

Institutions holding HFRO in Q2 2026
Institution	Shares	Value	% of portfolio	Change in shares	Action
Saba Capital Management, L.P.	5,976,204	$42.6M	1.30%	+828,967+16.1%	Added
Highland Capital Management Fund Advisors, L.P.	4,599,295	$32.8M	2.19%	+470,400+11.4%	Added
Raymond James Financial Inc	3,979,624	$28.4M	0.01%	+58,645+1.5%	Added
Thomas J. Herzfeld Advisors, Inc.	2,676,474	$19.1M	5.86%	−39,187−1.4%	Reduced
Morgan Stanley	2,487,826	$17.7M	0.00%	−56,567−2.2%	Reduced
Envestnet Asset Management Inc	2,183,464	$15.6M	0.00%	+36,125+1.7%	Added
Invesco Ltd.	1,161,203	$8.28M	0.00%	−247,603−17.6%	Reduced
Atlas Wealth LLC	1,030,976	$7.35M	1.05%	+1,030,976	New
Cambridge Investment Research Advisors, Inc.	944,693	$6.74M	0.02%	−21,186−2.2%	Reduced
Matisse Capital	617,000	$4.40M	1.76%	00.0%	Unchanged

Holders of 5% or more of HFRO

See all 4 holders and filings

Holders whose latest Schedule 13D or 13G filing reports 5% or more of Highland Opportunities & Income Fund.

Largest holders of HFRO from 13D and 13G filings
Holder	Latest form	Stake	Change	First filed	Latest filing	Filing
Saba Capital Management, L.P.	13D/A	10.47%5.80M shares	+1.07 ppfrom 9.40%	Aug 4, 20256 filings	Jun 4, 2026	SEC
Dondero James D	13D/A	9.60%5.22M shares	+1.10 ppfrom 8.50%	Sep 22, 20255 filings	Jul 29, 2026	SEC
Morgan Stanley	13G/A	5.10%2.82M shares	−1.20 ppfrom 6.30%	Feb 11, 20218 filings	Feb 11, 2026	SEC
Thomas J. Herzfeld Advisors, Inc.	13G	5.05%2.80M shares	New	Oct 29, 20251 filing	Oct 29, 2025	SEC