Special Opportunities Fund: CSS reports 7.234% stake

A signature comment lists 122,529 common shares and 388,889 preferred shares held by CSS, LLC, with a 1.7857 conversion ratio.

Available on EDGAR 11/09/2026 - 04:46 PM EST Accepted by SEC EDGAR 11/09/2026 - 04:45 PM EST Learn about SEC filing dates

Rhea-AI Filing Summary

Special Opportunities Fund, Inc. (SPE) has a reported beneficial owner, CSS LLC/IL, with 816,968 shares of common stock, representing 7.234% of the class. CSS LLC/IL reported sole voting and dispositive power over 816,968 shares, and zero shared voting and dispositive power.

Key Figures

Beneficial ownership: 816,968 shares Percent of class: 7.234% Sole voting power: 816,968 shares +5 more

8 metrics

Beneficial ownership 816,968 shares Special Opportunities Fund, Inc. common class

Percent of class 7.234% CSS LLC/IL beneficial ownership

Sole voting power 816,968 shares CSS LLC/IL

Sole dispositive power 816,968 shares CSS LLC/IL

Shared voting and dispositive power 0 shares CSS LLC/IL

Common shares held 122,529 shares CSS, LLC, as stated in the signature comment

Preferred shares held 388,889 shares CSS, LLC, as stated in the signature comment

Preferred-share conversion ratio 1.7857 As stated in the signature comment

Key Terms

beneficially owned, Sole Voting Power, Sole Dispositive Power

3 terms

beneficially owned financial

"Amount beneficially owned: 816,968"

Beneficially owned describes securities or assets where a person has the economic rights and control—such as the right to receive dividends and to direct voting—even if legal title is held in another name. Think of it like having the keys and using a car that’s registered to someone else: you get the benefits and make decisions. Investors care because beneficial ownership reveals who truly controls value and voting power, affecting corporate decisions and takeover dynamics.

Sole Voting Power financial

"Sole Voting Power 816,968.00"

Sole voting power is the exclusive right to cast votes attached to a shareholder’s stock without needing approval from anyone else. Like holding the only remote control for a TV, it lets that holder decide corporate matters such as board members, mergers, and policy changes, making it important to investors because it concentrates control and can strongly influence a company’s strategy and the value of its shares.

Sole Dispositive Power financial

"Sole Dispositive Power 816,968.00"

Sole dispositive power is the exclusive legal authority to decide what happens to a security — for example, whether to sell, transfer, or retain shares — without needing anyone else’s permission. Investors care because it signals who truly controls the economic outcome of an investment: like holding the only key to a safe, the holder can realize gains or losses and may trigger regulatory reporting, insider rules, or influence over corporate ownership.

FAQ

AI-generated questions and answers. How Rhea-AI works. Not financial advice.

How many SPE shares did CSS LLC/IL report beneficially owning?

CSS LLC/IL reported beneficial ownership of 816,968 shares, representing 7.234% of Special Opportunities Fund, Inc.'s common class.

AI-generated analysis. How Rhea-AI works. Not financial advice.

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SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549

SCHEDULE 13G

UNDER THE SECURITIES EXCHANGE ACT OF 1934

(Amendment No. 2)

SPECIAL OPPORTUNITIES FUND, INC.

(Name of Issuer)

Common

(Title of Class of Securities)

84741T104

(CUSIP Number)

10/30/2026

(Date of Event Which Requires Filing of this Statement)

Check the appropriate box to designate the rule pursuant to which this Schedule is filed:

Rule 13d-1(b)

Rule 13d-1(c)

Rule 13d-1(d)

schemaVersion:

SCHEDULE 13G

CUSIP Number(s): 84741T104

1

Names of Reporting Persons

CSS LLC/IL

2

Check the appropriate box if a member of a Group (see instructions)

(a)
(b)

3

Sec Use Only

4

Citizenship or Place of Organization

ILLINOIS

Number of Shares Beneficially Owned by Each Reporting Person With:

5	Sole Voting Power 816,968.00
6	Shared Voting Power 0.00
7	Sole Dispositive Power 816,968.00
8	Shared Dispositive Power 0.00

9

Aggregate Amount Beneficially Owned by Each Reporting Person

816,968.00

10

Check box if the aggregate amount in row (9) excludes certain shares (See Instructions)

11

Percent of class represented by amount in row (9)

7.234 %

12

Type of Reporting Person (See Instructions)

OO

SCHEDULE 13G

Item 1.
(a)	Name of issuer: SPECIAL OPPORTUNITIES FUND, INC.
(b)	Address of issuer's principal executive offices: C/O ULTIMUS FUND SOLUTIONS, LLC, 225 PICTORIA DRIVE, SUITE 450, CINCINNATI, OHIO 45246
Item 2.
(a)	Name of person filing: CSS LLC/IL
(b)	Address or principal business office or, if none, residence: 1 NORTH WACKER DRIVE SUITE 3075 CHICAGO, Illinois 60606
(c)	Citizenship: CSS LLC/IL - ILLINOIS
(d)	Title of class of securities: Common
(e)	CUSIP No.: 84741T104
Item 3.	If this statement is filed pursuant to §§ 240.13d-1(b) or 240.13d-2(b) or (c), check whether the person filing is a:
(a)	Broker or dealer registered under section 15 of the Act (15 U.S.C. 78o);
(b)	Bank as defined in section 3(a)(6) of the Act (15 U.S.C. 78c);
(c)	Insurance company as defined in section 3(a)(19) of the Act (15 U.S.C. 78c);
(d)	Investment company registered under section 8 of the Investment Company Act of 1940 (15 U.S.C. 80a-8);
(e)	An investment adviser in accordance with § 240.13d-1(b)(1)(ii)(E);
(f)	An employee benefit plan or endowment fund in accordance with § 240.13d-1(b)(1)(ii)(F);
(g)	A parent holding company or control person in accordance with § 240.13d-1(b)(1)(ii)(G);
(h)	A savings associations as defined in Section 3(b) of the Federal Deposit Insurance Act (12 U.S.C. 1813);
(i)	A church plan that is excluded from the definition of an investment company under section 3(c)(14) of the Investment Company Act of 1940 (15 U.S.C. 80a-3);
(j)	A non-U.S. institution in accordance with § 240.13d-1(b)(1)(ii)(J). If filing as a non-U.S. institution in accordance with § 240.13d-1(b)(1)(ii)(J), please specify the type of institution:
(k)	Group, in accordance with Rule 240.13d-1(b)(1)(ii)(K).
Item 4.	Ownership
(a)	Amount beneficially owned: 816,968
(b)	Percent of class: 7.234 %
(c)	Number of shares as to which the person has:
	(i) Sole power to vote or to direct the vote: CSS LLC/IL - 816,968
	(ii) Shared power to vote or to direct the vote: CSS LLC/IL - 0
	(iii) Sole power to dispose or to direct the disposition of: CSS LLC/IL - 816,968
	(iv) Shared power to dispose or to direct the disposition of: CSS LLC/IL - 0
Item 5.	Ownership of 5 Percent or Less of a Class.
	Not Applicable
Item 6.	Ownership of more than 5 Percent on Behalf of Another Person.
	Not Applicable
Item 7.	Identification and Classification of the Subsidiary Which Acquired the Security Being Reported on by the Parent Holding Company or Control Person.
	Not Applicable
Item 8.	Identification and Classification of Members of the Group.
	Not Applicable
Item 9.	Notice of Dissolution of Group.
	Not Applicable

Item 10.

Certifications:

By signing below I certify that, to the best of my knowledge and belief, the securities referred to above were not acquired and are not held for the purpose of or with the effect of changing or influencing the control of the issuer of the securities and were not acquired and are not held in connection with or as a participant in any transaction having that purpose or effect, other than activities solely in connection with a nomination under § 240.14a-11.

SIGNATURE

After reasonable inquiry and to the best of my knowledge and belief, I certify that the information set forth in this statement is true, complete and correct.

CSS LLC/IL

Signature:	Mitchell R. Bialek
Name/Title:	Mitchell R. Bialek/CCO
Date:	11/09/2026

Comments accompanying signature: CSS, LLC holds 122,529 common shares and 388,889 Preferred Shares with a conversion ration of 1.7857