SCHEDULE: Herzfeld Advisors Discloses 5.05% Stake in Highland Fund

Thomas J. Herzfeld Advisors, Inc. reported a 5.05% beneficial ownership stake in Highland Opportunities & Income Fund as of September 30, 2025.

Summary

• Thomas J. Herzfeld Advisors, Inc. has reported beneficial ownership of 2,797,151 shares of Common Stock in HIGHLAND OPPORTUNITIES & INCOME FUND.
• This ownership represents 5.05% of the class of securities.
• The reporting person, Thomas J. Herzfeld Advisors, Inc., is a Florida Corporation and an investment adviser.
• They hold sole voting power and sole dispositive power over all 2,797,151 shares.
• The filing is a Schedule 13G, indicating a passive investment purpose, not for changing or influencing control of the issuer.

Sentiment

Score: 6

Explanation: The filing discloses a significant passive ownership stake by an investment advisor, which can be viewed as a vote of confidence, but it does not contain operational or financial performance data of the issuer.

Positives

• A specialized investment advisor, Thomas J. Herzfeld Advisors, Inc., has taken a significant 5.05% passive stake in Highland Opportunities & Income Fund, potentially signaling confidence in the fund.

Future Outlook

No forward-looking statements or guidance are provided in this beneficial ownership disclosure.

Management Comments

• Erik M. Herzfeld, President of Thomas J. Herzfeld Advisors, Inc., certified that the securities were acquired and are held in the ordinary course of business and not for the purpose of changing or influencing control of the issuer.

Industry Context

Thomas J. Herzfeld Advisors, Inc. is known for its expertise in closed-end funds. Their investment in Highland Opportunities & Income Fund, likely a closed-end fund, aligns with their specialized investment strategy, indicating a focused institutional investor sees value in the fund's structure or holdings.

Stakeholder Impact

• Shareholders: Provides transparency regarding institutional ownership and may be interpreted as a positive signal from a specialized investment firm.

Key Dates

Recommendation

The filing indicates a significant passive stake by a specialized investment advisor, Thomas J. Herzfeld Advisors, Inc., in Highland Opportunities & Income Fund. While this suggests a vote of confidence from an institutional investor, the filing itself is purely an ownership disclosure and does not provide financial performance, strategic updates, or other operational details necessary for a definitive buy or sell recommendation. Therefore, a 'hold' recommendation is appropriate, encouraging further due diligence based on the fund's underlying performance and strategy.

Keywords

Highland Opportunities & Income Fund, Thomas J. Herzfeld Advisors, Schedule 13G, beneficial ownership, common stock, investment advisor, closed-end fund