[SCHEDULE 13G/A] Special Opportunities Fund, Inc. SEC Filing

Rhea-AI Filing Summary

Kovitz Investment Group Partners, LLC reports holding a majority stake in Special Opportunities Fund, Inc. The filer states it beneficially owns 1,279,365.51 shares of the 2.75% Convertible Preferred C (CUSIP 84741T401), representing 50.32% of that class. The filing indicates the shares are held with sole voting and dispositive power and were acquired and are held in the ordinary course of business, not for the purpose of changing or influencing control of the issuer. Contact and address details for the issuer and filer are provided in the statement.

Positive

• Majority ownership disclosed: The filer reports beneficial ownership of 50.32% of the 2.75% Convertible Preferred C, a material disclosure.
• Sole voting and dispositive power: Kovitz reports exclusive control over voting and disposition of the 1,279,365.51 shares.

Negative

• Concentration risk: Holding a majority of the preferred class concentrates influence and may raise liquidity or governance concerns for other holders.
• Limited context on intent: The filer asserts ordinary-course holdings and not seeking control, but the filing provides no additional detail on future intentions or plans.

Insights

Securities Analyst

TL;DR: A single investment adviser reports majority ownership (>50%) of a preferred class, which is a material disclosure for investors.

The filing shows Kovitz Investment Group Partners, LLC beneficially owns 1,279,365.51 shares, equal to 50.32% of the 2.75% Convertible Preferred C of Special Opportunities Fund, Inc. The filer reports sole voting and dispositive power over these shares, and certifies the position is held in the ordinary course of business and not to influence control. For investors, majority ownership in a preferred class can affect governance outcomes tied to that class and influence liquidity or negotiation dynamics for that security.

Corporate Governance Expert

TL;DR: Majority ownership of a security class is material and should prompt monitoring of potential class-level influence.

The statement identifies a Delaware-formed investment adviser filing under Schedule 13G/A with sole voting and dispositive power over 1,279,365.51 shares (50.32%). The filer affirms the holdings were not acquired to change or influence control. While the filer claims ordinary-course intent, the size of the position is significant at the class level and is a notable governance disclosure for stakeholders assessing control dynamics.

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)

2.75% CONVERTIBLE PREFERRED C

(Title of Class of Securities)

84741T401

(CUSIP Number)

07/31/2025

(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)

SCHEDULE 13G

CUSIP No. 84741T401

1

Names of Reporting Persons

Kovitz Investment Group Partners, LLC

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

DELAWARE

Number of Shares Beneficially Owned by Each Reporting Person With:

5	Sole Voting Power 1,279,365.51
6	Shared Voting Power
7	Sole Dispositive Power 1,279,365.51
8	Shared Dispositive Power

9

Aggregate Amount Beneficially Owned by Each Reporting Person

1,279,365.51

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)

50.3 %

12

Type of Reporting Person (See Instructions)

IA

SCHEDULE 13G

Item 1.
(a)	Name of issuer: SPECIAL OPPORTUNITIES FUND, INC.
(b)	Address of issuer's principal executive offices: C/O US BANCORP FUND SERVICES, LLC, 615 EAST MICHIGAN AVENUE, MILWAUKEE, WISCONSIN, 53202
Item 2.
(a)	Name of person filing: Kovitz Investment Group Partners, LLC
(b)	Address or principal business office or, if none, residence: 71 SOUTH WACKER DRIVE, SUITE 1860, CHICAGO, IL 60606
(c)	Citizenship: DELAWARE
(d)	Title of class of securities: 2.75% CONVERTIBLE PREFERRED C
(e)	CUSIP No.: 84741T401
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: 1279365.51
(b)	Percent of class: 50.32%
(c)	Number of shares as to which the person has:
	(i) Sole power to vote or to direct the vote: 1279365.51
	(ii) Shared power to vote or to direct the vote:
	(iii) Sole power to dispose or to direct the disposition of: 1279365.51
	(iv) Shared power to dispose or to direct the disposition of:
Item 5.	Ownership of 5 Percent or Less of a Class.
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 acquired and are held in the ordinary course of business and 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.

Kovitz Investment Group Partners, LLC

Signature:	JEREMY WILSON
Name/Title:	CHIEF COMPLIANCE OFFICER
Date:	09/10/2025

FAQ

How many shares of SPE 2.75% Convertible Preferred C does Kovitz Investment Group Partners hold?

The filer reports beneficial ownership of 1,279,365.51 shares of the 2.75% Convertible Preferred C (CUSIP 84741T401).

What percentage of the preferred class does Kovitz own according to the filing?

Kovitz reports owning 50.32% of the 2.75% Convertible Preferred C class.

Does Kovitz have voting or dispositive power over these shares?

Yes. The filing discloses sole voting power and sole dispositive power for the 1,279,365.51 shares.

When was the Schedule 13G/A filed and who signed it?

The statement is dated 07/31/2025 for the event requiring filing and was signed on 09/10/2025 by Jeremy Wilson, Chief Compliance Officer of Kovitz.

Where are the issuer and filer located according to the filing?

Issuer principal office: 615 East Michigan Avenue, Milwaukee, Wisconsin. Filer address: 71 South Wacker Drive, Suite 1860, Chicago, IL 60606.