[144] Special Opportunities Fund, Inc. SEC Filing

Rhea-AI Filing Summary

Special Opportunities Fund, Inc. (NYSE: SPE) – Form 144 filing

Kovitz Investment Group, acting on behalf of an unnamed account, has filed a Form 144 indicating its intent to sell 134 common shares of Special Opportunities Fund, Inc. through Fidelity Brokerage Services on or after 15 July 2025. The shares to be sold represent less than 0.01 % of the fund’s 2,235,775 shares outstanding and have an aggregate market value of $3,266.93.

The filing also discloses that the same account has disposed of 6,055 shares of the fund in the previous three-month period across four transactions, generating gross proceeds of approximately $147,334. All reported sales were executed on public markets and appear to be routine portfolio activity rather than insider disposition, as the filing does not identify the seller as an officer, director or affiliate of the issuer.

Rule 144 notices are procedural and do not obligate the filer to complete the sale; they merely provide advance disclosure that the shares are eligible for public resale under the Securities Act. Given the small size of the proposed sale relative to the float, the filing is unlikely to exert meaningful market pressure or materially affect the fund’s capital structure.

Insights

Portfolio Manager

TL;DR – Very small Rule 144 sale; negligible impact on SPE’s supply-demand dynamics.

The proposed disposition of 134 shares (≈$3.3k) and the cumulative 6,055 shares sold over the last quarter amount to less than 0.3 % of SPE’s outstanding stock. Rule 144 filings are procedural, not a commitment to sell, and the seller is not listed as an affiliate, so there are no insider-signaling implications. Liquidity in SPE averages far in excess of these volumes, making any price impact de minimis. Investors may note the transparency but should not view the filing as a fundamental driver of NAV or discount changes.

Form 144 Filer Information	UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 Form 144 NOTICE OF PROPOSED SALE OF SECURITIES PURSUANT TO RULE 144 UNDER THE SECURITIES ACT OF 1933
FORM 144

144: Filer Information

Filer CIK
Filer CCC
Is this a LIVE or TEST Filing?	LIVE TEST
Submission Contact Information
Name
Phone
E-Mail Address

144: Issuer Information

Name of Issuer

SEC File Number

Address of Issuer

Phone

Name of Person for Whose Account the Securities are To Be Sold

See the definition of "person" in paragraph (a) of Rule 144. Information is to be given not only as to the person for whose account the securities are to be sold but also as to all other persons included in that definition. In addition, information shall be given as to sales by all persons whose sales are required by paragraph (e) of Rule 144 to be aggregated with sales for the account of the person filing this notice.

Relationship to Issuer

144: Securities Information

Title of the Class of Securities To Be Sold	Name and Address of the Broker	Number of Shares or Other Units To Be Sold	Aggregate Market Value	Number of Shares or Other Units Outstanding	Approximate Date of Sale	Name the Securities Exchange
Common Stock	Fidelity Brokerage Services LLC 245 Summer Street Boston MA 02110	134	3266.93	2235775	07/15/2025	NYSE

Furnish the following information with respect to the acquisition of the securities to be sold and with respect to the payment of all or any part of the purchase price or other consideration therefor:

144: Securities To Be Sold

Title of the Class	Date you Acquired	Nature of Acquisition Transaction	Name of Person from Whom Acquired	Is this a Gift?	Date Donor Acquired	Amount of Securities Acquired	Date of Payment	Nature of Payment *
Preferred	01/26/2022	open Market Purchase	Open Market Purchase			134	01/26/2022	Cash/Check

* If the securities were purchased and full payment therefor was not made in cash at the time of purchase, explain in the table or in a note thereto the nature of the consideration given. If the consideration consisted of any note or other obligation, or if payment was made in installments describe the arrangement and state when the note or other obligation was discharged in full or the last installment paid.

Furnish the following information as to all securities of the issuer sold during the past 3 months by the person for whose account the securities are to be sold.

144: Securities Sold During The Past 3 Months

Name and Address of Seller	Title of Securities Sold	Date of Sale	Amount of Securities Sold	Gross Proceeds
Kovitz Investment Group Par 71 S Wacker Dr Suite 1860 Chicago IL 60606	Special Opportunities Fund	05/14/2025	1222	29450.20
Kovitz Investment Group Par 71 S Wacker Dr Suite 1860, Chicago IL 60606	Special Opportunities Fund	05/29/2025	1862	45153.50
Kovitz Investment Group Par 71 S Wacker Dr Suite 1860 Chicago IL 60606	Special Opportunities Fund	06/04/2025	1886	45735.50
Kovitz Investment Group Par 71 S Wacker Dr Suite 1860, Chicago IL 60606	Special Opportunities Fund	06/30/2025	1085	26994.80

144: Remarks and Signature

Remarks

Date of Notice

ATTENTION:

The person for whose account the securities to which this notice relates are to be sold hereby represents by signing this notice that he does not know any material adverse information in regard to the current and prospective operations of the Issuer of the securities to be sold which has not been publicly disclosed. If such person has adopted a written trading plan or given trading instructions to satisfy Rule 10b5-1 under the Exchange Act, by signing the form and indicating the date that the plan was adopted or the instruction given, that person makes such representation as of the plan adoption or instruction date.

Signature

ATTENTION: Intentional misstatements or omission of facts constitute Federal Criminal Violations (See 18 U.S.C. 1001)

FAQ

What is the significance of Special Opportunities Fund (SPE) filing Form 144?

Form 144 simply notifies the SEC of an intent to sell previously restricted or control shares; it does not guarantee a sale.

How many SPE shares are covered by this Form 144 notice?

The filer intends to sell 134 common shares, valued at about $3,267.

When could the shares be sold under this Form 144?

The approximate sale date provided is 15 July 2025, but the seller is not obligated to execute.

How many SPE shares has the filer sold in the last 3 months?

The filing lists prior sales totaling 6,055 shares with gross proceeds of roughly $147,334.

Does this Form 144 filing materially affect SPE’s share count?

No. The 134 shares represent less than 0.01 % of the 2,235,775 shares outstanding.