SPECIAL OPPORTUNITIES FD INC

CUSIP: 84741T401 Class: Convertible Preferred

Holders for Q4 2025 Position Changes for Q4 2025

Note: Option positions (PUT/CALL) are excluded.

New Positions (2)

Focus Partners Wealth

Value ($000) $28,370 Shares 1,147,664

Beverly Hills Private Wealth, LLC

Value ($000) $240 Shares 9,697

Institution	Shares	Value ($000)
Focus Partners Wealth	1,147,664	$28,370
Beverly Hills Private Wealth, LLC	9,697	$240

Increased Positions (2)

GatePass Capital, LLC

Value ($000) $3,291 (+18.7%) Shares 133,150 (+19.9%)

Value ($000) $8,028 (+6.1%) Shares 323,419 (+6.4%)

Institution	Prev Shares	Curr Shares	Change
GatePass Capital, LLC	111,050	133,150	+22,100 (+19.9%)
CSS LLC/IL	303,909	323,419	+19,510 (+6.4%)

Decreased Positions (5)

GRAHAM CAPITAL WEALTH MANAGEMENT, LLC

Value ($000) $522 (-10.5%) Shares 21,113 (-9.7%)

Value ($000) $667 (-11.0%) Shares 26,983 (-10.2%)

WELLS FARGO & COMPANY/MN

Value ($000) $478 (-4.7%) Shares 19,336 (-3.8%)

Value ($000) $16 (-50.4%) Shares 645 (-49.8%)

BLUE BELL PRIVATE WEALTH MANAGEMENT, LLC

Value ($000) $69 (-9.7%) Shares 2,787 (-8.8%)

Institution	Prev Shares	Curr Shares	Change
GRAHAM CAPITAL WEALTH MANAGEMENT, LLC	23,374	21,113	-2,261 (-9.7%)
UBS Group AG	30,033	26,983	-3,050 (-10.2%)
WELLS FARGO & COMPANY/MN	20,100	19,336	-764 (-3.8%)
MORGAN STANLEY	1,286	645	-641 (-49.8%)
BLUE BELL PRIVATE WEALTH MANAGEMENT, LLC	3,056	2,787	-269 (-8.8%)

Exited Positions (2)

Kovitz Investment Group Partners, LLC

Value ($000) $30,389 Shares 1,217,502

SUSQUEHANNA INTERNATIONAL GROUP, LLP

Value ($000) $201 Shares 8,054

Institution	Prev Shares	Prev Value ($000)
Kovitz Investment Group Partners, LLC	1,217,502	$30,389
SUSQUEHANNA INTERNATIONAL GROUP, LLP	8,054	$201