Saba Capital Management Increases Stake in Highland Opportunities and Income Fund to 9.4%

On April 14, 2026, Saba Capital Management, L.P., alongside Saba Capital Management GP, LLC and Boaz R. Weinstein, filed an amendment to their Schedule 13D regarding Highland Opportunities and Income Fund (HFRO). The filing reports that the group now beneficially owns 5,205,867 common shares, representing a 9.4% ownership stake in the company. This reflects an increase in their position following several open-market purchases. Specifically, between February 10, 2026, and April 10, 2026, Saba Capital executed multiple buy transactions at prices ranging from $5.62 to $6.32 per share. The total investment for the acquired shares amounted to approximately $28,093,756, funded through investor subscription proceeds and margin account borrowings. The reporting persons share voting and dispositive power over the reported shares. The calculation of the ownership percentage is based on 55,388,271 shares outstanding as of the issuer's most recent N-CSR filing.