Special Opportunities Fund, Inc.
|
|
|
|
|
|
|
Portfolio of Investments
|
|
|
|
|
|
|
September 30, 2023 (Unaudited)
|
|
|
|
|
|
|
|
|
|
|
|
|
|
INVESTMENT COMPANIES - 101.04%
|
|
Shares
|
|
|
Value
|
|
Closed-End Funds - 85.98%
|
|
|
|
|
|
|
Aberdeen Asia-Pacific Income Fund, Inc.
|
|
123,498
|
|
$ |
302,570
|
|
abrdn Global Dynamic Dividend Fund
|
|
49,874
|
|
|
431,909
|
|
Adams Diversified Equity Fund, Inc.
|
|
256,880
|
|
|
4,274,483
|
|
Apollo Tactical Income Fund, Inc.
|
|
96,992
|
|
|
1,296,783
|
|
Bancroft Fund Ltd.
|
|
15,143
|
|
|
238,805
|
|
BlackRock California Municipal Income Trust
|
|
293,726
|
|
|
3,022,441
|
|
BlackRock ESG Capital Allocation Term Trust
|
|
369,295
|
|
|
5,461,873
|
|
BlackRock Innovation and Growth Term Trust
|
|
126,352
|
|
|
879,410
|
|
Blackstone Strategic Credit 2027 Term Fund
|
|
86,455
|
|
|
950,140
|
|
BNY Mellon Municipal Income, Inc.
|
|
621,787
|
|
|
3,525,532
|
|
BNY Mellon Strategic Municipal Bond Fund, Inc.
|
|
416,961
|
|
|
2,072,296
|
|
Carlyle Credit Income Fund
|
|
184,118
|
|
|
1,506,085
|
|
Center Coast Brookfield MLP & Energy Infrastructure Fund
|
|
146,938
|
|
|
3,115,086
|
|
Central and Eastern Europe Fund, Inc.
|
|
32,849
|
|
|
282,501
|
|
Central Securities Corp.
|
|
214,394
|
|
|
7,600,267
|
|
Credit Suisse High Yield Bond Fund
|
|
727,692
|
|
|
1,368,061
|
|
Destra Multi-Alternative Fund
|
|
167,969
|
|
|
1,004,455
|
|
Dividend and Income Fund
|
|
350,673
|
|
|
3,790,775
|
|
DWS Municipal Income Trust
|
|
330,517
|
|
|
2,544,981
|
|
DWS Strategic Municipal Income Trust
|
|
185,082
|
|
|
1,393,667
|
|
Eaton Vance New York Municipal Bond Fund
|
|
340,445
|
|
|
2,822,289
|
|
Ellsworth Growth and Income Fund Ltd.
|
|
70,141
|
|
|
564,635
|
|
Federated Hermes Premier Municipal Income Fund
|
|
4,839
|
|
|
46,358
|
|
First Trust Dynamic Europe Equity Income Fund
|
|
516,930
|
|
|
6,409,932
|
|
First Trust High Yield Opportunities 2027 Term Fund
|
|
58,168
|
|
|
774,798
|
|
First Trust MLP and Energy Income Fund
|
|
15,392
|
|
|
121,751
|
|
General American Investors Co., Inc.
|
|
324,541
|
|
|
13,351,617
|
|
High Income Securities Fund
|
|
242,733
|
|
|
1,502,517
|
|
Highland Opportunities and Income Fund
|
|
351,923
|
|
|
2,829,461
|
|
Invesco High Income 2024 Target Term Fund
|
|
25,420
|
|
|
176,415
|
|
Mexico Equity & Income Fund, Inc. (a)
|
|
100,100
|
|
|
940,940
|
|
MFS High Yield Municipal Trust
|
|
846,262
|
|
|
2,648,800
|
|
MFS Investment Grade Municipal Trust
|
|
167,141
|
|
|
1,181,687
|
|
Morgan Stanley Emerging Markets Debt Fund, Inc.
|
|
279,814
|
|
|
1,815,993
|
|
Morgan Stanley Emerging Markets Domestic Debt Fund, Inc.
|
|
153,010
|
|
|
651,823
|
|
Neuberger Berman New York Municipal Fund, Inc.
|
|
34,908
|
|
|
305,794
|
|
Neuberger Berman Next Generation Connectivity Fund, Inc.
|
|
484,421
|
|
|
5,047,667
|
|
New America High Income Fund, Inc.
|
|
45,969
|
|
|
297,879
|
|
Nuveen Floating Rate Income Fund
|
|
257,177
|
|
|
2,111,423
|
|
Nuveen Multi-Asset Income Fund
|
|
12,779
|
|
|
142,102
|
|
NXG NextGen Infrastructure Income Fund
|
|
68,603
|
|
|
2,572,612
|
|
Pershing Square Holdings Ltd. Fund
|
|
10,000
|
|
|
363,800
|
|
Pershing Square Holdings Ltd. Fund
|
|
30,000
|
|
|
1,092,240
|
|
Principal Real Estate Income Fund
|
|
148,265
|
|
|
1,338,833
|
|
Royce Value Trust, Inc.
|
|
30,300
|
|
|
389,961
|
|
Saba Capital Income & Opportunities Fund
|
|
332,504
|
|
|
2,553,631
|
|
SRH Total Return Fund, Inc.
|
|
1,083,570
|
|
|
14,064,739
|
|
Taiwan Fund, Inc. (a)
|
|
223,819
|
|
|
6,710,094
|
|
Templeton Global Income Fund
|
|
568,796
|
|
|
2,195,553
|
|
The Swiss Helvetia Fund, Inc.
|
|
236,992
|
|
|
1,810,619
|
|
Tortoise Energy Independence Fund, Inc.
|
|
52,500
|
|
|
1,662,675
|
|
Tortoise Power and Energy Infrastructure Fund, Inc.
|
|
127,481
|
|
|
1,703,146
|
|
Virtus Total Return Fund, Inc.
|
|
347,263
|
|
|
1,666,862
|
|
Western Asset Intermediate Muni Fund, Inc.
|
|
22,082
|
|
|
158,107
|
|
|
|
|
|
|
127,088,873
|
|
Business Development Companies - 15.06%
|
|
|
|
|
|
|
Barings BDC, Inc.
|
|
403,900
|
|
|
3,598,749
|
|
CION Investment Corp.
|
|
868,664
|
|
|
9,181,778
|
|
Crescent Capital BDC, Inc.
|
|
44,358
|
|
|
758,522
|
|
FS KKR Capital Corp.
|
|
213,874
|
|
|
4,211,179
|
|
Logan Ridge Finance Corp.
|
|
81,161
|
|
|
1,684,091
|
|
PennantPark Investment Corp.
|
|
67,321
|
|
|
442,972
|
|
Portman Ridge Finance Corp.
|
|
98,369
|
|
|
1,893,603
|
|
SuRo Capital Corp. (a)
|
|
132,351
|
|
|
479,111
|
|
|
|
|
|
|
22,250,005
|
|
Total Investment Companies (Cost $147,197,789)
|
|
|
|
|
149,338,878
|
|
|
|
|
|
|
|
|
TRUSTS - 0.42%
|
|
|
|
|
|
|
Copper Property CTL Pass Through Trust
|
|
58,220
|
|
|
617,132
|
|
Lamington Road Grantor Trust (a)(c)
|
|
320,690
|
|
|
0
|
|
Total Trusts (Cost $811,790)
|
|
|
|
|
617,132
|
|
|
|
|
|
|
|
|
PREFERRED STOCKS - 0.23%
|
|
|
|
|
|
|
Real Estate Investment Trusts - 0.23%
|
|
|
|
|
|
|
Brookfield DTLA Fund Office Trust Investor, Inc.
|
|
171,723
|
|
|
20,607
|
|
NexPoint Diversified Real Estate Trust
|
|
22,324
|
|
|
320,572
|
|
Total Preferred Stocks (Cost $4,932,716)
|
|
|
|
|
341,179
|
|
|
|
|
|
|
|
|
OTHER COMMON STOCKS - 6.47%
|
|
|
|
|
|
|
Biotechnology - 0.38%
|
|
|
|
|
|
|
Cyteir Therapeutics, Inc. (a)
|
|
200,000
|
|
|
568,000
|
|
Oil, Gas & Consumable Fuels - 5.43%
|
|
|
|
|
|
|
Texas Pacific Land Corp.
|
|
4,400
|
|
|
8,023,664
|
|
Real Estate Management & Development - 0.66%
|
|
|
|
|
|
|
Howard Hughes Holdings, Inc. (a)
|
|
12,000
|
|
|
889,560
|
|
Trinity Place Holdings, Inc. (a)
|
|
221,748
|
|
|
80,938
|
|
|
|
|
|
|
970,498
|
|
Total Other Common Stocks (Cost $7,103,419)
|
|
|
|
|
9,562,162
|
|
|
|
|
|
|
|
|
REAL ESTATE INVESTMENT TRUSTS - 1.03%
|
|
|
|
|
|
|
NexPoint Diversified Real Estate Trust
|
|
175,551
|
|
|
1,529,047
|
|
Total Real Estate Investment Trusts (Cost $2,523,088)
|
|
|
|
|
1,529,047
|
|
|
|
|
|
|
|
|
SPECIAL PURPOSE ACQUISITION VEHICLES - 14.43% (a)
|
|
|
|
|
|
|
Alpha Partners Technology Merger Corp.
|
|
37,224
|
|
|
393,085
|
|
AltC Acquisition Corp.
|
|
100,000
|
|
|
1,035,000
|
|
AP Acquisition Corp.
|
|
193,647
|
|
|
2,126,244
|
|
Apollo Strategic Growth Capital II
|
|
40,579
|
|
|
426,485
|
|
Arrowroot Acquisition Corp.
|
|
50,000
|
|
|
523,500
|
|
Cartesian Growth Corp. II
|
|
251,947
|
|
|
2,721,028
|
|
Churchill Capital Corp. V
|
|
105,728
|
|
|
1,099,571
|
|
Churchill Capital Corp. VI
|
|
81,000
|
|
|
846,450
|
|
Churchill Capital Corp. VII
|
|
124,920
|
|
|
1,305,414
|
|
Compass Digital Acquisition Corp.
|
|
168,618
|
|
|
1,777,234
|
|
EVe Mobility Acquisition Corp.
|
|
34,200
|
|
|
365,256
|
|
Gores Holdings IX, Inc.
|
|
88,568
|
|
|
920,222
|
|
Screaming Eagle Acquisition Corp.
|
|
430,251
|
|
|
4,500,425
|
|
TG Venture Acquisition Corp.
|
|
309,207
|
|
|
3,289,963
|
|
Total Special Purpose Acquisition Vehicles (Cost $20,632,703)
|
|
|
|
|
21,329,877
|
|
|
|
|
|
|
|
|
|
|
|
|
Principal
|
|
|
|
|
|
|
|
Amount
|
|
|
|
|
CORPORATE OBLIGATIONS - 1.08%
|
|
|
|
|
|
|
Lamington Road DAC (b)(c)
|
|
|
|
|
|
|
8.000%, 04/07/2121
|
$ |
17,203,693
|
|
|
688,148
|
|
9.750%, 04/07/2121
|
|
1,753,821
|
|
|
910,233
|
|
Total Corporate Obligations (Cost $6,256,236)
|
|
|
|
|
1,598,381
|
|
|
|
|
|
|
|
|
UNSECURED NOTES - 3.25%
|
|
|
|
|
|
|
iMedia Brands, Inc. (c)
|
|
|
|
|
|
|
8.500%, 09/30/2026
|
|
23,458
|
|
|
22,989
|
|
Sachem Capital Corp.
|
|
|
|
|
|
|
7.125%, 06/30/2024
|
|
60,000
|
|
|
1,494,600
|
|
7.750%, 09/30/2025
|
|
120,000
|
|
|
2,865,000
|
|
6.000%, 03/30/2027
|
|
20,000
|
|
|
421,000
|
|
Total Unsecured Notes (Cost $5,546,450)
|
|
|
|
|
4,803,589
|
|
|
|
|
|
|
|
|
|
|
Shares
|
|
|
|
|
WARRANTS - 0.11% (a)
|
|
|
|
|
|
|
AGBA Group Holding Ltd.
|
|
|
|
|
|
|
Expiration: May 2024
|
|
51,750
|
|
|
1,527
|
|
Exercise Price: $11.50
|
|
|
|
|
|
|
Alset Capital Acquisition Corp.
|
|
|
|
|
|
|
Expiration: February 2027
|
|
23,750
|
|
|
774
|
|
Exercise Price: $11.50
|
|
|
|
|
|
|
Andretti Acquisition Corp.
|
|
|
|
|
|
|
Expiration: March 2028
|
|
72,334
|
|
|
22,814
|
|
Exercise Price: $11.50
|
|
|
|
|
|
|
Blockchain Coinvestors Acquisition Corp. I
|
|
|
|
|
|
|
Expiration: November 2028
|
|
32,500
|
|
|
1,267
|
|
Exercise Price: $11.50
|
|
|
|
|
|
|
C5 Acquisition Corp.
|
|
|
|
|
|
|
Expiration: May 2028
|
|
50,000
|
|
|
1,855
|
|
Exercise Price: $11.50
|
|
|
|
|
|
|
Cactus Acquisition Corp. 1 Ltd.
|
|
|
|
|
|
|
Expiration: October 2026
|
|
40,700
|
|
|
1,022
|
|
Exercise Price: $11.50
|
|
|
|
|
|
|
Cartesian Growth Corp. II
|
|
|
|
|
|
|
Expiration: July 2028
|
|
21,986
|
|
|
3,518
|
|
Exercise Price: $11.50
|
|
|
|
|
|
|
CF Acquisition Corp. VIII
|
|
|
|
|
|
|
Expiration: December 2027
|
|
8,500
|
|
|
2,125
|
|
Exercise Price: $11.50
|
|
|
|
|
|
|
Churchill Capital Corp. V
|
|
|
|
|
|
|
Expiration: October 2027
|
|
26,432
|
|
|
4,890
|
|
Exercise Price: $11.50
|
|
|
|
|
|
|
Churchill Capital Corp. VI
|
|
|
|
|
|
|
Expiration: December 2027
|
|
16,200
|
|
|
2,286
|
|
Exercise Price: $11.50
|
|
|
|
|
|
|
Churchill Capital Corp. VII
|
|
|
|
|
|
|
Expiration: February 2028
|
|
24,984
|
|
|
7,695
|
|
Exercise Price: $11.50
|
|
|
|
|
|
|
Conduit Pharmaceuticals, Inc.
|
|
|
|
|
|
|
Expiration: February 2027
|
|
94,500
|
|
|
4,252
|
|
Exercise Price: $11.50
|
|
|
|
|
|
|
Corner Growth Acquisition Corp.
|
|
|
|
|
|
|
Expiration: December 2027
|
|
33,333
|
|
|
2,667
|
|
Exercise Price: $11.50
|
|
|
|
|
|
|
Corner Growth Acquisition Corp. 2
|
|
|
|
|
|
|
Expiration: June 2026
|
|
14,366
|
|
|
1,437
|
|
Exercise Price: $11.50
|
|
|
|
|
|
|
Digital Health Acquisition Corp.
|
|
|
|
|
|
|
Expiration: November 2028
|
|
116,000
|
|
|
2,564
|
|
Exercise Price: $11.50
|
|
|
|
|
|
|
Dune Acquisition Corp.
|
|
|
|
|
|
|
Expiration: October 2027
|
|
19,300
|
|
|
1,351
|
|
Exercise Price: $11.50
|
|
|
|
|
|
|
Fusion Acquisition Corp. II
|
|
|
|
|
|
|
Expiration: December 2027
|
|
46,666
|
|
|
9
|
|
Exercise Price: $11.50
|
|
|
|
|
|
|
Graf Acquisition Corp. IV
|
|
|
|
|
|
|
Expiration: May 2028
|
|
20,000
|
|
|
7,894
|
|
Exercise Price: $11.50
|
|
|
|
|
|
|
HNR Acquisition Corp.
|
|
|
|
|
|
|
Expiration: July 2028
|
|
63,000
|
|
|
11,831
|
|
Exercise Price: $11.50
|
|
|
|
|
|
|
iCoreConnect, Inc.
|
|
|
|
|
|
|
Expiration: May 2028
|
|
150,000
|
|
|
15,000
|
|
Exercise Price: $11.50 (c)
|
|
|
|
|
|
|
Insight Acquisition Corp.
|
|
|
|
|
|
|
Expiration: August 2026
|
|
12,450
|
|
|
188
|
|
Exercise Price: $11.50
|
|
|
|
|
|
|
Investcorp Europe Acquisition Corp. I
|
|
|
|
|
|
|
Expiration: November 2028
|
|
150,000
|
|
|
27,300
|
|
Exercise Price: $11.50
|
|
|
|
|
|
|
Jet.AI, Inc.
|
|
|
|
|
|
|
Expiration: July 2026
|
|
50,000
|
|
|
2,480
|
|
Exercise Price: $11.50
|
|
|
|
|
|
|
Juniper II Corp.
|
|
|
|
|
|
|
Expiration: December 2028
|
|
104,500
|
|
|
272
|
|
Exercise Price: $11.50 (c)
|
|
|
|
|
|
|
Keyarch Acquisition Corp.
|
|
|
|
|
|
|
Expiration: July 2028
|
|
75,000
|
|
|
3,000
|
|
Exercise Price: $11.50
|
|
|
|
|
|
|
Lamington Road
|
|
|
|
|
|
|
Expiration: July 2025
|
|
640,000
|
|
|
0
|
|
Exercise Price: $0.20 (c)(e)
|
|
|
|
|
|
|
Landcadia Holdings IV, Inc.
|
|
|
|
|
|
|
Expiration: March 2028
|
|
25,000
|
|
|
3,500
|
|
Exercise Price: $11.50
|
|
|
|
|
|
|
Leo Holdings Corp. II
|
|
|
|
|
|
|
Expiration: January 2028
|
|
12,308
|
|
|
63
|
|
Exercise Price: $11.50
|
|
|
|
|
|
|
LIV Capital Acquisition Corp. II
|
|
|
|
|
|
|
Expiration: February 2027
|
|
70,875
|
|
|
1,559
|
|
Exercise Price: $11.50
|
|
|
|
|
|
|
Live Oak Crestview Climate Acquisition Corp.
|
|
|
|
|
|
|
Expiration: March 2026
|
|
540
|
|
|
38
|
|
Exercise Price: $11.50
|
|
|
|
|
|
|
Nogin, Inc.
|
|
|
|
|
|
|
Expiration: August 2027
|
|
55,350
|
|
|
1,101
|
|
Exercise Price: $11.50
|
|
|
|
|
|
|
Northern Star Investment Corp. III
|
|
|
|
|
|
|
Expiration: February 2028
|
|
17,833
|
|
|
223
|
|
Exercise Price: $11.50
|
|
|
|
|
|
|
Northern Star Investment Corp. IV
|
|
|
|
|
|
|
Expiration: December 2027
|
|
8,833
|
|
|
178
|
|
Exercise Price: $11.50
|
|
|
|
|
|
|
Plutonian Acquisition Corp.
|
|
|
|
|
|
|
Expiration: October 2027
|
|
101,969
|
|
|
7,066
|
|
Exercise Price: $11.50
|
|
|
|
|
|
|
Quantum FinTech Acquisition Corp.
|
|
|
|
|
|
|
Expiration: December 2027
|
|
76,000
|
|
|
2,280
|
|
Exercise Price: $11.50
|
|
|
|
|
|
|
Screaming Eagle Acquisition Corp.
|
|
|
|
|
|
|
Expiration: December 2027
|
|
75,200
|
|
|
12,784
|
|
Exercise Price: $11.50
|
|
|
|
|
|
|
Shapeways Holdings, Inc.
|
|
|
|
|
|
|
Expiration: October 2024
|
|
100,000
|
|
|
700
|
|
Exercise Price: $92.00
|
|
|
|
|
|
|
Signa Sports United NV
|
|
|
|
|
|
|
Expiration: December 2026
|
|
29,000
|
|
|
290
|
|
Exercise Price: $11.50
|
|
|
|
|
|
|
TG Venture Acquisition Corp.
|
|
|
|
|
|
|
Expiration: August 2028
|
|
100,000
|
|
|
3,200
|
|
Exercise Price: $11.50
|
|
|
|
|
|
|
ZyVersa Therapeutics, Inc.
|
|
|
|
|
|
|
Expiration: December 2027
|
|
65,250
|
|
|
0
|
|
Exercise Price: $11.50 (c)(e)
|
|
|
|
|
|
|
Total Warrants (Cost $735,046)
|
|
|
|
|
163,000
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
RIGHTS - 0.04% (a)
|
|
|
|
|
|
|
Alset Capital Acquisition Corp.
|
|
47,500
|
|
|
9,975
|
|
Hudson Acquisition I Corp. (Expiration: April 18, 2024)
|
|
25,100
|
|
|
6,024
|
|
Keyarch Acquisition Corp.
|
|
150,000
|
|
|
18,000
|
|
Nocturne Acquisition Corp.
|
|
75,000
|
|
|
8,632
|
|
Plutonian Acquisition Corp. (Expiration: August 15, 2024)
|
|
101,969
|
|
|
16,703
|
|
Total Rights (Cost $74,774)
|
|
|
|
|
59,334
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
MONEY MARKET FUNDS - 10.80%
|
|
|
|
|
|
|
Fidelity Institutional Government Portfolio - Class I, 5.230% (d)
|
|
7,980,376
|
|
|
7,980,376
|
|
Invesco Treasury Portfolio - Institutional Class, 5.256% (d)
|
|
7,980,377
|
|
|
7,980,377
|
|
Total Money Market Funds (Cost $15,960,753)
|
|
|
|
|
15,960,753
|
|
|
|
|
|
|
|
|
Total Investments (Cost $211,774,764) - 138.90%
|
|
|
|
|
205,303,332
|
|
Liabilities in Excess of Other Assets - (0.21)%
|
|
|
|
|
(313,023)
|
|
Preferred Stock - (38.69)%
|
|
|
|
|
(57,184,875)
|
|
TOTAL NET ASSETS - 100.00%
|
|
|
|
$ |
147,805,434
|
|
|
|
|
|
|
|
|
|