Who owns HFRO (HFRO)
Which tracked institutional funds hold HFRO, how they are positioned, and who is buying versus exiting — from SEC Form 13F-HR filings. See HFRO company fundamentals →
Ownership as of the 2026-Q1 13F filings. 13F is disclosed up to 45 days after quarter-end, so the most recent quarter fills in over the following weeks.
How the tape is positioned
5 tracked funds added or opened HFRO while 14 trimmed or exited it between 2025-Q4 and 2026-Q1 — the tape is split. When large holders disagree on a name, the funds moving first are sometimes ahead of the story.
A prompt to read the filings, not a verdict. 13F is a quarter-end snapshot disclosed up to 45 days late; a fund adds or exits for mandate, benchmark, and timing reasons that have nothing to do with a view on the stock. This is a starting question, not a signal to trade.
Conviction spread
HFRO’s largest tracked holder by dollar value, Saba Capital Management, L.P., sizes it at 1.0% of its own reported 13F book, while the median holder sizes it at 0.0% of theirs — a 0.9pp conviction gap — its largest holder concentrates the name more heavily than the typical one.
Book-share is each fund’s reported value in HFRO divided by its whole reported 13F book, so it is comparable across funds of different sizes and is unaffected by stock splits. A higher share means a fund has committed more of its book to the name — a starting question about conviction, not a verdict or a signal to trade.
Institutional & insider positioning
Between 2025-Q4 and 2026-Q1, across 95 tracked filers holding HFRO, 33 increased or opened the position and 50 reduced or closed it; over the same quarter, there were no open-market insider Form 4s.
This fuses two public signals for the same quarter — how tracked institutions changed their positions and whether insiders bought or sold in the open market. It describes what was filed; it is a starting question, not a verdict or a signal to trade.
New buyers & exits
Funds opening or closing a position in HFRO between the 2025-Q4 and 2026-Q1 13F filings, and the largest changes among funds holding it in both. New buyers and exits are counted on fund presence (split-invariant); adds and trims are measured on reported value.
New buyers 1
- HARBOUR INVESTMENTS, INC.$812K
Full exits 2
- Concorde Asset Management, LLC$834K
- Alpine Global Management, LLC$598K
Largest adds
- NEXPOINT ASSET MANAGEMENT, L.P.$2M
- Saba Capital Management, L.P.$1M
- Thomas J. Herzfeld Advisors, Inc.$812K
- Altium Capital Management LLC$727K
Largest trims
- MORGAN STANLEY$2M
- Geneos Wealth Management Inc.$2M
- North Ground Capital$1M
- NewEdge Advisors, LLC$615K
- Marex Group plc$534K
- JANE STREET GROUP, LLC$517K
Institutional holders
One row per tracked fund, largest reported value first. “% of value” is the fund’s share of this security’s tracked institutional value — not of shares outstanding. Rows marked stale are from an earlier filing than the security’s latest quarter — that fund is absent from the newest snapshot (position exited, or reported under a different name).
| Fund | Shares | Reported value | % of value | Quarter |
|---|---|---|---|---|
| Saba Capital Management, L.P. added | 5,147,237 | $29M | 16.2% | 2026-Q1 |
| NEXPOINT ASSET MANAGEMENT, L.P. added | 4,128,895 | $24M | 13.0% | 2026-Q1 |
| RAYMOND JAMES FINANCIAL INC added | 3,920,979 | $22M | 12.4% | 2026-Q1 |
| Thomas J. Herzfeld Advisors, Inc. added | 2,715,661 | $16M | 8.6% | 2026-Q1 |
| MORGAN STANLEY trimmed | 2,544,393 | $15M | 8.0% | 2026-Q1 |
| ENVESTNET ASSET MANAGEMENT INC added | 2,147,339 | $12M | 6.8% | 2026-Q1 |
| Invesco Ltd. added | 1,408,806 | $8M | 4.4% | 2026-Q1 |
| Cambridge Investment Research Advisors, Inc. added | 965,879 | $6M | 3.0% | 2026-Q1 |
| Geneos Wealth Management Inc. trimmed | 672,800 | $4M | 2.1% | 2026-Q1 |
| ROYAL BANK OF CANADA trimmed | 631,212 | $4M | 2.0% | 2026-Q1 |
| LPL Financial LLC trimmed | 622,706 | $4M | 2.0% | 2026-Q1 |
| Matisse Capital | 617,000 | $4M | 1.9% | 2026-Q1 |
| OPPENHEIMER & CO INC added | 460,222 | $3M | 1.5% | 2026-Q1 |
| Private Capital Management, LLC trimmed | 113,103 | $2M | 1.0% | 2026-Q1 |
| Camelot Portfolios, LLC trimmed | 317,062 | $2M | 1.0% | 2026-Q1 |
| Altium Capital Management LLC added | 277,068 | $2M | 0.9% | 2026-Q1 |
| Closed-End Fund Advisors, Inc. added | 235,324 | $1M | 0.7% | 2026-Q1 |
| CHOREO, LLC trimmed | 217,962 | $1M | 0.7% | 2026-Q1 |
| Marex Group plc trimmed | 205,000 | $1M | 0.6% | 2026-Q1 |
| PARK AVENUE SECURITIES LLC trimmed | 181,678 | $1M | 0.6% | 2026-Q1 |
| LANDSCAPE CAPITAL MANAGEMENT, L.L.C. | 181,396 | $1M | 0.6% | 2026-Q1 |
| Arlington Capital Management, Inc. added | 154,306 | $881K | 0.5% | 2026-Q1 |
| HARBOUR INVESTMENTS, INC. new | 142,243 | $812K | 0.4% | 2026-Q1 |
| IHT Wealth Management, LLC trimmed | 140,579 | $803K | 0.4% | 2026-Q1 |
| BLUE BELL PRIVATE WEALTH MANAGEMENT, LLC added | 139,203 | $795K | 0.4% | 2026-Q1 |
| Aristides Capital LLC added | 138,096 | $789K | 0.4% | 2026-Q1 |
| NATIONS FINANCIAL GROUP INC, /IA/ /ADV | 122,317 | $698K | 0.4% | 2026-Q1 |
| HighTower Advisors, LLC trimmed | 114,025 | $651K | 0.4% | 2026-Q1 |
| Baird Financial Group, Inc. added | 113,704 | $649K | 0.4% | 2026-Q1 |
| OSAIC HOLDINGS, INC. added | 110,543 | $631K | 0.3% | 2026-Q1 |
| GILPIN WEALTH MANAGEMENT, LLC added | 91,642 | $523K | 0.3% | 2026-Q1 |
| AEGON USA Investment Management, LLC trimmed | 79,431 | $454K | 0.3% | 2026-Q1 |
| Samalin Investment Counsel, LLC trimmed | 77,388 | $442K | 0.2% | 2026-Q1 |
| Calamos Advisors LLC added | 74,855 | $427K | 0.2% | 2026-Q1 |
| Creative Planning added | 68,548 | $391K | 0.2% | 2026-Q1 |
| Ariadne Wealth Management, LP added | 52,900 | $302K | 0.2% | 2026-Q1 |
| Cetera Investment Advisers trimmed | 51,116 | $292K | 0.2% | 2026-Q1 |
| Papamarkou Wellner Asset Management inc. | 45,000 | $257K | 0.1% | 2026-Q1 |
| SUSQUEHANNA INTERNATIONAL GROUP, LLP trimmed | 37,259 | $213K | 0.1% | 2026-Q1 |
| MERCER GLOBAL ADVISORS INC /ADV | 35,831 | $205K | 0.1% | 2026-Q1 |
| Kestra Advisory Services, LLC added | 35,285 | $201K | 0.1% | 2026-Q1 |
| INTEGRATED CAPITAL MANAGEMENT, INC. trimmed | 33,966 | $194K | 0.1% | 2026-Q1 |
| JANE STREET GROUP, LLC trimmed | 32,520 | $186K | 0.1% | 2026-Q1 |
| CSS LLC/IL | 32,516 | $186K | 0.1% | 2026-Q1 |
| EVOLVE PRIVATE WEALTH, LLC trimmed | 31,214 | $178K | 0.1% | 2026-Q1 |
| Mariner, LLC trimmed | 30,252 | $173K | 0.1% | 2026-Q1 |
| Abel Hall, LLC added | 30,000 | $171K | 0.1% | 2026-Q1 |
| MELFA WEALTH MANAGEMENT, INC. | 29,135 | $166K | 0.1% | 2026-Q1 |
| NewEdge Advisors, LLC added | 166,318 | $166K | 0.1% | 2026-Q1 |
| INDEPENDENT FINANCIAL GROUP, LLC trimmed | 27,710 | $158K | 0.1% | 2026-Q1 |
| North Ground Capital trimmed | 22,081 | $126K | 0.1% | 2026-Q1 |
| Keystone Wealth Services, LLC added | 21,330 | $122K | 0.1% | 2026-Q1 |
| B. Riley Wealth Advisors, Inc. trimmed | 21,503 | $119K | 0.1% | 2026-Q1 |
| Janney Montgomery Scott LLC trimmed | 20,275 | $116K | 0.1% | 2026-Q1 |
| XTX Topco Ltd trimmed | 19,988 | $114K | 0.1% | 2026-Q1 |
| UBS Group AG trimmed | 18,648 | $106K | 0.1% | 2026-Q1 |
| One Charles Private Wealth Services, LLC | 17,248 | $98K | 0.1% | 2026-Q1 |
| MML INVESTORS SERVICES, LLC trimmed | 16,333 | $93K | 0.1% | 2026-Q1 |
| CITADEL ADVISORS LLC trimmed | 15,564 | $89K | 0.0% | 2026-Q1 |
| Capital Investment Advisory Services, LLC trimmed | 12,876 | $74K | 0.0% | 2026-Q1 |
| STEPHENS INC /AR/ | 12,743 | $73K | 0.0% | 2026-Q1 |
| COMMONWEALTH EQUITY SERVICES, LLC trimmed | 12,526 | $72K | 0.0% | 2026-Q1 |
| U.S. Capital Wealth Advisors, LLC trimmed | 12,044 | $69K | 0.0% | 2026-Q1 |
| Koshinski Asset Management, Inc. | 11,625 | $66K | 0.0% | 2026-Q1 |
| Bulldog Investors, LLP | 10,715 | $61K | 0.0% | 2026-Q1 |
| NWF Advisory Services Inc. trimmed | 10,400 | $59K | 0.0% | 2026-Q1 |
| CHANNEL WEALTH LLC trimmed | 10,074 | $58K | 0.0% | 2026-Q1 |
| K2 PRINCIPAL FUND, L.P. | 10,033 | $57K | 0.0% | 2026-Q1 |
| Rockefeller Capital Management L.P. added | 8,898 | $51K | 0.0% | 2026-Q1 |
| WELLS FARGO & COMPANY/MN added | 7,849 | $45K | 0.0% | 2026-Q1 |
| Advisory Services Network, LLC trimmed | 7,458 | $43K | 0.0% | 2026-Q1 |
| FIFTH THIRD BANCORP added | 6,156 | $35K | 0.0% | 2026-Q1 |
| Verition Fund Management LLC added | 262,820 | $1M | 0.8% | 2025-Q2 stale |
| Concorde Asset Management, LLC added | 139,460 | $834K | 0.5% | 2025-Q4 stale |
| Tabor Asset Management, LP new | 149,435 | $777K | 0.4% | 2025-Q1 stale |
| GatePass Capital, LLC added | 116,100 | $604K | 0.3% | 2025-Q2 stale |
| Alpine Global Management, LLC trimmed | 99,974 | $598K | 0.3% | 2025-Q4 stale |
| SFI Advisors, LLC added | 81,254 | $423K | 0.2% | 2025-Q1 stale |
| Envestnet Portfolio Solutions, Inc. added | 66,964 | $348K | 0.2% | 2025-Q2 stale |
| Atria Wealth Solutions, Inc. added | 60,569 | $315K | 0.2% | 2025-Q2 stale |
| BALYASNY ASSET MANAGEMENT L.P. new | 42,780 | $272K | 0.2% | 2025-Q3 stale |
| HRT FINANCIAL LP added | 38,356 | $243K | 0.1% | 2025-Q3 stale |
| MIdWestOne Financial Group, Inc. | 36,578 | $219K | 0.1% | 2025-Q4 stale |
| Moloney Securities Asset Management, LLC added | 11,998 | $199K | 0.1% | 2025-Q3 stale |
| HB Wealth Management, LLC | 32,550 | $195K | 0.1% | 2025-Q4 stale |
| MILLENNIUM MANAGEMENT LLC trimmed | 28,850 | $173K | 0.1% | 2025-Q4 stale |
| ICON ADVISERS INC/CO trimmed | 29,564 | $154K | 0.1% | 2025-Q1 stale |
| Kingsview Wealth Management, LLC added | 29,091 | $151K | 0.1% | 2025-Q2 stale |
| Private Advisor Group, LLC trimmed | 28,875 | $150K | 0.1% | 2025-Q2 stale |
| GOLDMAN SACHS GROUP INC added | 19,357 | $123K | 0.1% | 2025-Q3 stale |
| Yakira Capital Management, Inc. | 15,655 | $94K | 0.1% | 2025-Q4 stale |
| LifeWealth Investments, LLC | 14,625 | $87K | 0.0% | 2025-Q4 stale |
| Inscription Capital, LLC | 11,914 | $84K | 0.0% | 2025-Q1 stale |
| Sage Capital Management, LLC trimmed | 15,129 | $79K | 0.0% | 2025-Q2 stale |
| Catalyst Funds Management Pty Ltd new | 10,800 | $69K | 0.0% | 2025-Q3 stale |
| Post Resch Tallon Group Inc. added | 12,121 | $62K | 0.0% | 2025-Q1 stale |
| NOMURA HOLDINGS INC trimmed | 10,000 | $60K | 0.0% | 2025-Q4 stale |
| STIFEL FINANCIAL CORP trimmed | 11,497 | $60K | 0.0% | 2025-Q2 stale |
| TRUIST FINANCIAL CORP trimmed | 10,488 | $55K | 0.0% | 2025-Q2 stale |
| COMERICA BANK trimmed | 6,156 | $37K | 0.0% | 2025-Q4 stale |
Ownership over time
Tracked institutional holder count and total shares held by filing quarter (independent scales). The curated-era tail and any mid-ingest latest quarter are handled honestly — a partial quarter is not drawn as a collapse.
Reading this table
Funds hold the same stock for different reasons — an index fund “holds” almost everything, an active manager sizes a name to a mandate and a benchmark, and each fund entered at its own price and time. Because 13F is filed up to 45 days after quarter-end, every row is a backward-looking snapshot; a manager may have traded since. Share-class siblings (a company’s A and C shares) are rolled up to one line so a dual-class name is never double-counted. Compare like-for-like. A large holder is not an endorsement, and a fund exiting is not a warning — this is a starting question, not a verdict.
About 13F filings
A Form 13F is a quarterly disclosure that institutional investment managers with over $100 million in US-listed equities must file with the SEC. In plain English: it is a snapshot of the long stock positions a fund held at the end of a quarter. It covers long US-listed equities only — not short positions, options, cash, or private holdings — and the funds shown are the large sample we track, not the complete 13F universe.