Special Opportunities Fund, Inc.
|
|
|
|
|
|
|
Portfolio of Investments
|
|
|
|
|
|
|
March 31, 2024
|
|
|
|
|
|
|
(Unaudited)
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
INVESTMENT COMPANIES - 100.55%
|
|
Shares
|
|
|
Value
|
|
Closed-End Funds - 86.59%
|
|
|
|
|
|
|
AllianceBernstein National Municipal Income Fund, Inc.
|
|
156,984
|
|
$ |
1,725,253
|
|
Bancroft Fund Ltd.
|
|
22,345
|
|
|
357,297
|
|
BlackRock California Municipal Income Trust
|
|
141,453
|
|
|
1,671,974
|
|
Blackstone Strategic Credit 2027 Term Fund
|
|
42,295
|
|
|
503,311
|
|
BNY Mellon Alcentra Global Credit Income 2024 Target Term Fund, Inc.
|
|
54,458
|
|
|
468,883
|
|
BNY Mellon Municipal Income, Inc.
|
|
621,787
|
|
|
4,246,805
|
|
BNY Mellon Strategic Municipal Bond Fund, Inc.
|
|
474,121
|
|
|
2,778,349
|
|
Carlyle Credit Income Fund
|
|
95,572
|
|
|
752,152
|
|
Central and Eastern Europe Fund, Inc.
|
|
188,883
|
|
|
1,798,166
|
|
Central Securities Corp.
|
|
219,394
|
|
|
9,164,087
|
|
ClearBridge Energy Midstream Opportunity Fund, Inc.
|
|
116,984
|
|
|
4,750,720
|
|
ClearBridge MLP & Midstream Fund, Inc.
|
|
97,213
|
|
|
4,450,411
|
|
ClearBridge MLP & Midstream Total Return Fund, Inc.
|
|
57,489
|
|
|
2,384,644
|
|
Destra Multi-Alternative Fund
|
|
216,567
|
|
|
1,693,554
|
|
Dividend and Income Fund
|
|
350,673
|
|
|
4,544,722
|
|
DWS Municipal Income Trust
|
|
1,175,285
|
|
|
10,612,824
|
|
DWS Strategic Municipal Income Trust
|
|
317,559
|
|
|
2,838,977
|
|
Eaton Vance New York Municipal Bond Fund
|
|
406,789
|
|
|
3,949,921
|
|
Ellsworth Growth and Income Fund Ltd.
|
|
76,934
|
|
|
624,704
|
|
Federated Hermes Premier Municipal Income Fund
|
|
4,839
|
|
|
53,568
|
|
First Trust High Yield Opportunities 2027 Term Fund
|
|
60,742
|
|
|
883,189
|
|
Gabelli Dividend & Income Trust
|
|
133,595
|
|
|
3,070,013
|
|
General American Investors Co., Inc.
|
|
324,541
|
|
|
15,094,402
|
|
Herzfeld Caribbean Basin Fund, Inc.
|
|
19,614
|
|
|
50,800
|
|
High Income Securities Fund
|
|
242,733
|
|
|
1,643,302
|
|
Highland Opportunities and Income Fund
|
|
310,059
|
|
|
2,179,715
|
|
Invesco High Income 2024 Target Term Fund
|
|
201,622
|
|
|
1,515,189
|
|
Magellan Global Fund/Close Class
|
|
5,000
|
|
|
7,038
|
|
Mexico Equity & Income Fund, Inc.
|
|
100,100
|
|
|
1,157,156
|
|
MFS High Yield Municipal Trust
|
|
764,782
|
|
|
2,546,724
|
|
MFS Investment Grade Municipal Trust
|
|
245,919
|
|
|
1,873,903
|
|
MFS Special Value Trust
|
|
588
|
|
|
2,617
|
|
Miller/Howard High Dividend Fund
|
|
64,067
|
|
|
710,503
|
|
Morgan Stanley Emerging Markets Domestic Debt Fund, Inc.
|
|
162,390
|
|
|
771,353
|
|
Neuberger Berman Municipal Fund, Inc.
|
|
179,440
|
|
|
1,878,737
|
|
Neuberger Berman Next Generation Connectivity Fund, Inc.
|
|
535,671
|
|
|
6,294,134
|
|
New America High Income Fund, Inc.
|
|
92,045
|
|
|
670,088
|
|
Nuveen Multi-Asset Income Fund
|
|
12,779
|
|
|
158,971
|
|
Nuveen Preferred & Income Term Fund
|
|
49,591
|
|
|
954,131
|
|
NXG NextGen Infrastructure Income Fund
|
|
17,263
|
|
|
671,013
|
|
Pershing Square Holdings Ltd. Fund
|
|
30,000
|
|
|
1,544,112
|
|
Pershing Square Holdings Ltd. Fund
|
|
10,000
|
|
|
515,800
|
|
PGIM Short Duration High Yield Opportunities Fund
|
|
20,310
|
|
|
312,368
|
|
Principal Real Estate Income Fund
|
|
201,915
|
|
|
2,085,782
|
|
Royce Value Trust, Inc.
|
|
83,173
|
|
|
1,261,734
|
|
Saba Capital Income & Opportunities Fund
|
|
237,096
|
|
|
1,728,430
|
|
SRH Total Return Fund, Inc.
|
|
1,116,522
|
|
|
16,814,820
|
|
Taiwan Fund, Inc.
|
|
96,474
|
|
|
3,822,300
|
|
The Swiss Helvetia Fund, Inc.
|
|
236,992
|
|
|
1,879,347
|
|
Tortoise Energy Independence Fund, Inc.
|
|
49,741
|
|
|
1,677,267
|
|
Tortoise Power and Energy Infrastructure Fund, Inc.
|
|
150,865
|
|
|
2,351,367
|
|
Virtus Convertible & Income 2024 Target Term Fund
|
|
114,903
|
|
|
1,011,721
|
|
Virtus Total Return Fund, Inc.
|
|
819,852
|
|
|
4,566,576
|
|
Western Asset Global Corporate Defined Opportunity Fund, Inc.
|
|
287
|
|
|
3,582
|
|
Western Asset Intermediate Muni Fund, Inc.
|
|
24,397
|
|
|
193,224
|
|
|
|
|
|
|
141,271,730
|
|
Business Development Companies - 13.95%
|
|
|
|
|
|
|
Barings BDC, Inc.
|
|
205,560
|
|
|
1,911,708
|
|
CION Investment Corp.
|
|
899,218
|
|
|
9,891,398
|
|
FS KKR Capital Corp.
|
|
273,974
|
|
|
5,224,684
|
|
Logan Ridge Finance Corp.
|
|
81,161
|
|
|
1,825,311
|
|
Portman Ridge Finance Corp.
|
|
98,369
|
|
|
1,867,044
|
|
Runway Growth Finance Corp.
|
|
110,758
|
|
|
1,342,387
|
|
SuRo Capital Corp. (a)
|
|
154,890
|
|
|
704,750
|
|
|
|
|
|
|
22,767,282
|
|
Total Investment Companies (Cost $141,941,343)
|
|
|
|
|
164,039,012
|
|
|
|
|
|
|
|
|
|
|
|
Shares/Units
|
|
|
|
|
SPECIAL PURPOSE ACQUISITION VEHICLES - 20.08%
|
|
|
|
|
|
|
99 Acquisition Group, Inc. (a)
|
|
154,727
|
|
|
1,593,688
|
|
Agriculture & Natural Solutions Acquisition Corp. (a)
|
|
25,000
|
|
|
253,875
|
|
Ai Transportation Acquisition Corp. (a)
|
|
57,331
|
|
|
589,363
|
|
AP Acquisition Corp. (a)
|
|
193,647
|
|
|
2,184,338
|
|
Ares Acquisition Corp. II (a)
|
|
161,985
|
|
|
1,712,181
|
|
Colombier Acquisition Corp. II (a)
|
|
61,998
|
|
|
636,719
|
|
EVe Mobility Acquisition Corp. (a)
|
|
34,200
|
|
|
374,148
|
|
Feutune Light Acquisition Corp. (a)
|
|
84,084
|
|
|
914,834
|
|
Four Leaf Acquisition Corp. (a)
|
|
67,644
|
|
|
723,114
|
|
Global Lights Acquisition Corp. (a)
|
|
314,976
|
|
|
3,206,456
|
|
Haymaker Acquisition Corp. 4 (a)
|
|
179,631
|
|
|
1,871,755
|
|
IB Acquisition Corp. (a)
|
|
214,860
|
|
|
2,150,749
|
|
Inflection Point Acquisition Corp. II (a)
|
|
326,335
|
|
|
3,415,096
|
|
Investcorp Europe Acquisition Corp. I (a)
|
|
154,932
|
|
|
1,746,084
|
|
Nabors Energy Transition Corp. II (a)
|
|
31,658
|
|
|
329,243
|
|
New Providence Acquisition Corp. II (a)
|
|
11,137
|
|
|
120,057
|
|
Quetta Acquisition Corp. (a)
|
|
167,742
|
|
|
1,707,614
|
|
Screaming Eagle Acquisition Corp. (a)
|
|
491,801
|
|
|
5,262,270
|
|
TG Venture Acquisition Corp. (a)(c)
|
|
309,207
|
|
|
3,342,528
|
|
Trailblazer Merger Corp. I (a)
|
|
59,479
|
|
|
629,288
|
|
Total Special Purpose Acquisition Vehicles (Cost $32,013,995)
|
|
|
|
|
32,763,400
|
|
|
|
|
|
|
|
|
|
|
|
Shares
|
|
|
|
|
PREFERRED STOCKS - 0.22%
|
|
|
|
|
|
|
Diversified REITs - 0.22%
|
|
|
|
|
|
|
NexPoint Diversified Real Estate Trust (a)
|
|
22,324
|
|
|
351,603
|
|
Office REITs - 0.01%
|
|
|
|
|
|
|
Brookfield DTLA Fund Office Trust Investor, Inc. (a)
|
|
171,723
|
|
|
14,596
|
|
|
|
|
|
|
|
|
|
Total Preferred Stocks (Cost $4,932,716)
|
|
|
|
|
366,199
|
|
|
|
|
|
|
|
|
OTHER COMMON STOCKS - 6.63%
|
|
|
|
|
|
|
Biotechnology - 0.37%
|
|
|
|
|
|
|
Cyteir Therapeutics, Inc. (a)(c)
|
|
200,000
|
|
|
602,000
|
|
Broadline Retail - 0.61%
|
|
|
|
|
|
|
Macy's, Inc.
|
|
50,000
|
|
|
999,500
|
|
Financial Services - 0.18%
|
|
|
|
|
|
|
Cannae Holdings, Inc. (a)
|
|
12,980
|
|
|
288,675
|
|
Food Products - 0.24%
|
|
|
|
|
|
|
Limoneira Co.
|
|
20,000
|
|
|
391,200
|
|
Oil, Gas & Consumable Fuels - 4.68%
|
|
|
|
|
|
|
Texas Pacific Land Corp.
|
|
13,200
|
|
|
7,636,332
|
|
Real Estate Management & Development - 0.55%
|
|
|
|
|
|
|
Howard Hughes Holdings, Inc. (a)
|
|
12,000
|
|
|
871,440
|
|
Trinity Place Holdings, Inc. (a)
|
|
221,748
|
|
|
33,262
|
|
|
|
|
|
|
904,702
|
|
Total Other Common Stocks (Cost $8,654,354)
|
|
|
|
|
10,822,409
|
|
|
|
|
|
|
|
|
TRUSTS - 0.95%
|
|
|
|
|
|
|
Copper Property CTL Pass Through Trust
|
|
157,427
|
|
|
1,550,656
|
|
Lamington Road Grantor Trust (a)(c)
|
|
320,690
|
|
|
0
|
|
Total Trusts (Cost $1,820,221)
|
|
|
|
|
1,550,656
|
|
|
|
|
|
|
|
|
REAL ESTATE INVESTMENT TRUSTS - 1.55%
|
|
|
|
|
|
|
Equity Commonwealth (a)
|
|
70,431
|
|
|
1,329,737
|
|
NexPoint Diversified Real Estate Trust
|
|
181,020
|
|
|
1,194,732
|
|
Total Real Estate Investment Trusts (Cost $3,672,340)
|
|
|
|
|
2,524,469
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Principal
|
|
|
|
|
|
|
|
Amount
|
|
|
|
|
CORPORATE OBLIGATIONS - 0.58%
|
|
|
|
|
|
|
Lamington Road DAC (b)(c)
|
|
|
|
|
|
|
8.000%, 2121-04-07 (a)(c)
|
$ |
17,891,840
|
|
|
715,673
|
|
14.000%, 2121-04-07 (a)(c)
|
|
1,804,866
|
|
|
239,145
|
|
Total Corporate Obligations (Cost $6,979,698)
|
|
|
|
|
954,818
|
|
|
|
|
|
|
|
|
UNSECURED NOTES - 1.79%
|
|
|
|
|
|
|
Legacy IMBDS, Inc. (c)
|
|
|
|
|
|
|
8.500%, 09/30/2026
|
|
23,458
|
|
|
0
|
|
Sachem Capital Corp. (a)
|
|
|
|
|
|
|
7.750%, 09/30/2025
|
|
99,347
|
|
|
2,472,747
|
|
6.000%, 03/30/2027
|
|
20,000
|
|
|
454,400
|
|
|
|
|
|
|
2,927,147
|
|
Total Unsecured Notes (Cost $3,530,125)
|
|
|
|
|
2,927,147
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Shares
|
|
|
|
|
WARRANTS - 0.08%
|
|
|
|
|
|
|
Agriculture & Natural Solutions Acquisition Corp. (a)
|
|
|
|
|
|
|
Expiration: December 2028
|
|
12,500
|
|
|
2,250
|
|
Exercise Price: $11.50 (a)
|
|
|
|
|
|
|
Andretti Acquisition Corp.
|
|
|
|
|
|
|
Expiration: March 2028
|
|
72,334
|
|
|
29,657
|
|
Exercise Price: $11.50 (a)
|
|
|
|
|
|
|
AtlasClear Holdings, Inc. (a)
|
|
|
|
|
|
|
Expiration: October 2028
|
|
76,000
|
|
|
6,840
|
|
Exercise Price: $11.50 (a)
|
|
|
|
|
|
|
Blockchain Coinvestors Acquisition Corp. I
|
|
|
|
|
|
|
Expiration: November 2028
|
|
32,500
|
|
|
1,320
|
|
Exercise Price: $11.50 (a)
|
|
|
|
|
|
|
Cactus Acquisition Corp. 1 Ltd.
|
|
|
|
|
|
|
Expiration: October 2026
|
|
40,700
|
|
|
2,035
|
|
Exercise Price: $11.50 (a)
|
|
|
|
|
|
|
Cartesian Growth Corp. II
|
|
|
|
|
|
|
Expiration: July 2028
|
|
21,986
|
|
|
2,273
|
|
Exercise Price: $11.50 (a)
|
|
|
|
|
|
|
Churchill Capital Corp. VII
|
|
|
|
|
|
|
Expiration: February 2028
|
|
24,984
|
|
|
7,995
|
|
Exercise Price: $11.50 (a)
|
|
|
|
|
|
|
Colombier Acquisition Corp. II (a)(c)
|
|
|
|
|
|
|
Expiration: December 2028
|
|
20,666
|
|
|
9,506
|
|
Exercise Price: $11.50 (a)
|
|
|
|
|
|
|
Corner Growth Acquisition Corp.
|
|
|
|
|
|
|
Expiration: December 2027
|
|
33,333
|
|
|
5,033
|
|
Exercise Price: $11.50 (a)
|
|
|
|
|
|
|
Corner Growth Acquisition Corp. 2
|
|
|
|
|
|
|
Expiration: June 2026
|
|
14,366
|
|
|
646
|
|
Exercise Price: $11.50 (a)
|
|
|
|
|
|
|
Digital Health Acquisition Corp.
|
|
|
|
|
|
|
Expiration: November 2028
|
|
58,000
|
|
|
7,441
|
|
Exercise Price: $11.50 (a)
|
|
|
|
|
|
|
HWH INTL INC WT EXP
|
|
|
|
|
|
|
Expiration: January 2027
|
|
23,750
|
|
|
0
|
|
Exercise Price: $1.00 (a)(e)
|
|
|
|
|
|
|
iCoreConnect, Inc.
|
|
|
|
|
|
|
Expiration: May 2028
|
|
150,000
|
|
|
1,500
|
|
Exercise Price: $11.50 (a)
|
|
|
|
|
|
|
Investcorp Europe Acquisition Corp. I
|
|
|
|
|
|
|
Expiration: November 2028
|
|
150,000
|
|
|
5,250
|
|
Exercise Price: $11.50 (a)
|
|
|
|
|
|
|
Keyarch Acquisition Corp.
|
|
|
|
|
|
|
Expiration: July 2028
|
|
75,000
|
|
|
3,885
|
|
Exercise Price: $11.50 (a)
|
|
|
|
|
|
|
Lamington Road
|
|
|
|
|
|
|
Expiration: July 2025
|
|
640,000
|
|
|
0
|
|
Exercise Price: $0.20 (a)(c)(e)
|
|
|
|
|
|
|
Plutonian Acquisition Corp.
|
|
|
|
|
|
|
Expiration: October 2027
|
|
101,969
|
|
|
2,957
|
|
Exercise Price: $11.50 (a)
|
|
|
|
|
|
|
Screaming Eagle Acquisition Corp.
|
|
|
|
|
|
|
Expiration: December 2027
|
|
75,200
|
|
|
35,533
|
|
Exercise Price: $11.50 (a)
|
|
|
|
|
|
|
TG Venture Acquisition Corp.
|
|
|
|
|
|
|
Expiration: August 2028
|
|
100,000
|
|
|
0
|
|
Exercise Price: $11.50 (a)(e)
|
|
|
|
|
|
|
ZyVersa Therapeutics, Inc.
|
|
|
|
|
|
|
Expiration: December 2027
|
|
65,250
|
|
|
0
|
|
Exercise Price: $11.50 (a)(c)(e)
|
|
|
|
|
|
|
Total Warrants (Cost $313,163)
|
|
|
|
|
124,121
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
RIGHTS - 0.05%
|
|
|
|
|
|
|
Hudson Acquisition I Corp. (Expiration: April 18, 2024) (a)
|
|
25,100
|
|
|
6,872
|
|
Keyarch Acquisition Corp. (Epiration January 24, 2027) (a)
|
|
150,000
|
|
|
37,500
|
|
Nocturne Acquisition Corp. (Expiration December 26, 2025) (a)
|
|
75,000
|
|
|
12,300
|
|
Plutonian Acquisition Corp. (Expiration: October 26, 2027) (a)
|
|
101,969
|
|
|
17,967
|
|
Total Rights (Cost $69,575)
|
|
|
|
|
74,639
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
MONEY MARKET FUNDS - 2.16%
|
|
|
|
|
|
|
Fidelity Institutional Government Portfolio - Class I, 5.213% (d)
|
|
1,761,739
|
|
|
1,761,739
|
|
Invesco Treasury Portfolio - Institutional Class, 5.211% (d)
|
|
5,690,591
|
|
|
1,761,739
|
|
Total Money Market Funds (Cost $3,523,478)
|
|
|
|
|
3,523,478
|
|
|
|
|
|
|
|
|
Total Investments (Cost $210,706,871) - 134.64%
|
|
|
|
|
219,670,348
|
|
Liabilities in Excess of Other Assets - (0.15)%
|
|
|
|
|
(240,078)
|
|
Preferred Stock - (34.49)%
|
|
|
|
|
(56,280,725)
|
|
TOTAL NET ASSETS - 100.00%
|
|
|
|
$ |
163,149,545
|
|