CF
Closed-End Fund Advisors, Inc. — 13F Filing & Top Stock Positions (Q2 2026)
Closed-End Fund Advisors, Inc.CIK: 0002103520
Diversified strategySector-focusedQuality / disciplined sizing
Total reported value
$102.4M
Reporting period: 2026-06-30 · Number of holdings: 163
Closed-End Fund Advisors, Inc. disclosed 163 holdings in its latest 13F filing for the period ending 2026-06-30, with total reported value of $102.4M and a quarterly turnover rate of 0.0%.
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Personality snowflake
- Concentration
- 4.76
- Portfolio Stability
- 0
- Momentum
- 50
- Sector conviction
- 100
- Diversification
- 100
- Sizing Uniformity
- 90.27
Closed-End Fund Advisors, Inc.'s disclosed holdings carry a Herfindahl concentration index of 0.012 — mathematically equivalent to about 84 equally-sized positions, well below its 163 actual disclosed holdings. That gap points to a strategy built around a small core of high-conviction bets rather than broad diversification.
Position sizes are fairly uniform across the portfolio (a coefficient of variation of 0.97), suggesting a disciplined, rules-based approach to how much capital goes into each idea.
No strong tilt toward either adding to existing winners or initiating outsized new positions was observed in the latest reported quarter.
Sector classification currently covers about 7% of this portfolio's disclosed value; the remainder includes holdings (e.g. unmapped tickers, options, or other security types) not yet covered by our sector mapping.
Source and citation information
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Recent moves
View source Form 13F filing on SEC.govAdd MFM
+69.6% $1.1M
Sold out XCXEX
New buy 71531T105
Add KBDC
+118.9% $570.2K
New buy TSLX
Trim OTF
-5.9% -$448.9K
Holdings Map
New buyAddUnchangedTrim
Top 10 holdings by weight
Full holdings list this quarter
| # | Ticker | Issuer | Asset Subclass | Weight | Weight Change | Shares Change | 4Q Trend |
|---|---|---|---|---|---|---|---|
| 1 | KYN | Kayne Anderson Energy Infra | Stock-Other | 4.20% | -0.20% | +2.78% | |
| 2 | BPRE | Bluerock Private Real Estate | Stock-Financials | 2.65% | -0.36% | +16.98% | |
| 3 | MFM | Aberdeen Municipal Income | Stock-Other | 2.56% | +1.05% | +69.60% | |
| 4 | EOD | Allspring Global Dividend Op | Stock-Other | 2.23% | +0.13% | -0.93% | |
| 5 | TYG | Tortoise Energy Infrastruct | Stock-Other | 1.87% | -0.52% | -5.34% | |
| 6 | FSSL | Fs Specialty Lending Fund | Stock-Other | 1.86% | +0.19% | +30.04% | |
| 7 | CPZ | Calamos Lng/shrt Eqty & Dyn | Stock-Other | 1.83% | -0.08% | +3.54% | |
| 8 | RFMZ | Rivernorth Flex Muni Ii | Stock-Other | 1.80% | -0.02% | -4.44% | |
| 9 | SABA | Saba Capital Income & Opp Ii | Stock-Other | 1.66% | -0.04% | +1.76% | |
| 10 | HFRO | Highland Opport & Income | Stock-Other | 1.65% | +0.28% | +0.74% | |
| 11 | MEGI | Nyli Cbre Glbl Infr Mega Trm | Stock-Other | 1.64% | -0.06% | -3.13% | |
| 12 | PNI | Pimco Ny Muni Inc Ii Fnd | Stock-Other | 1.63% | -0.01% | -0.36% | |
| 13 | OTF | Blue Owl Technology Finance | Stock-Other | 1.61% | -0.53% | -5.88% | |
| 14 | VFL | Abrdn National Municipal Inc | Stock-Other | 1.60% | +0.04% | +3.06% | |
| 15 | SDHY | Pgim Shrt Durat Hi Yld | Stock-Other | 1.56% | -0.18% | -8.64% | |
| 16 | NCDL | Nuveen Churchill Direct Lend | Stock-Other | 1.53% | +0.33% | +35.90% | |
| 17 | DMA | Destra Multi-alternative | Stock-Other | 1.53% | -0.13% | +4.17% | |
| 18 | FINS | Angel Oak Financ Strat Inc | Stock-Other | 1.49% | -0.08% | -1.53% | |
| 19 | RA | Brookfield Real Assets Incom | Stock-Other | 1.47% | -0.04% | +1.37% | |
| 20 | NML | Neuberger Energy Infrastruct | Stock-Other | 1.41% | -0.08% | +2.42% | |
| 21 | WIW | Western Asst Infl-lnk Opp | Stock-Other | 1.29% | -0.06% | +0.48% | |
| 22 | PBDC | Putnam Bdc Income ETF | ETF-Other | 1.27% | +0.48% | +70.51% | |
| 23 | GUG | Guggenheim Active Allocation | Stock-Other | 1.26% | -0.39% | -24.47% | |
| 24 | FSCO | Fs Credit Opportunities CORP | Stock-Other | 1.18% | -0.19% | -8.30% | |
| 25 | EMO | Clearbridge Energy Midstream | Stock-Other | 1.12% | -0.11% | +0.14% | |
| 26 | BANX | Arrowmark Financial CORP | Stock-Other | 1.04% | -0.31% | -21.67% | |
| 27 | KBDC | Kayne Anderson Bdc Inc | Stock-Other | 1.04% | +0.54% | +118.94% | |
| 28 | BGX | Blackstone Long-short Credit | Stock-Other | 1.03% | +0.19% | +28.16% | |
| 29 | RLTY | Cohen & Steers Rl Est Opprt | Stock-Other | 1.03% | +0.08% | +3.76% | |
| 30 | DFP | Flaherty & Crumrine Dyn Pref | Stock-Other | 1.02% | +0.12% | +14.79% | |
| 31 | XFLT | Xai Fltng Rte&alt Inc Trs-ui | Stock-Other | 0.97% | +0.06% | +9.54% | |
| 32 | JRS | Nuveen Real Estate Income | Stock-Other | 0.96% | +0.13% | +6.85% | |
| 33 | NPFD | Nuveen Var Rt Pref & Inc | Stock-Other | 0.95% | -0.06% | -5.46% | |
| 34 | XPCQX | Pimco California Muni Inc Fd | Stock-Other | 0.92% | -0.03% | -4.29% | |
| 35 | BCSF | Bain Capital Specialty Finan | Stock-Other | 0.91% | -0.05% | -2.52% | |
| 36 | NMAI | Nuveen Multi-asset Income | Stock-Other | 0.89% | +0.10% | +2.44% | |
| 37 | PFO | Flaherty & Crumrine P&i Opp | Stock-Other | 0.86% | -0.01% | +0.21% | |
| 38 | PGZ | Principal Real Estate Income | Stock-Other | 0.83% | +0.03% | +1.33% | |
| 39 | TRIN | Trinity Capital Inc | Stock-Other | 0.83% | +0.06% | -7.64% | |
| 40 | CGBD | Carlyle Secured Lending Inc | Stock-Other | 0.80% | -0.30% | -20.94% | |
| 41 | JRI | Nuveen Real Asset Inc & Grw | Stock-Other | 0.78% | +0.06% | +6.90% | |
| 42 | FLC | Flaherty & Crumrine Ttl Rtrn | Stock-Other | 0.77% | +0.01% | +3.24% | |
| 43 | HTGC | Hercules Capital Inc | Stock-Financials | 0.76% | +0.31% | +64.83% | |
| 44 | ✓ | Stock-Other | 0.76% | +0.76% | NEW | ||
| 45 | TBLD | Thornburg Income Builder Opp | Stock-Other | 0.74% | -0.03% | -4.26% | |
| 46 | MINT | Pimco Enhanced Short Maturit | ETF-Other | 0.72% | -0.07% | -6.31% | |
| 47 | HQH | Abrdn Healthcare Investors | Stock-Other | 0.69% | — | -15.05% | |
| 48 | FMN | Federated Herm Prem Muni Inc | Stock-Other | 0.69% | +0.11% | +17.92% | |
| 49 | XAODX | Abrdn Total Dynamic Dividend | Stock-Other | 0.68% | +0.05% | +1.28% | |
| 50 | AFB | Allianceberstein Ntl Muni | Stock-Other | 0.68% | — | -3.17% |
1–50 of 163
Portfolio Performance
Performance for Q3 2026
+3.2%
Performance Last 4 Quarters
+5.1%
- Stdev
- +13.1%
- Beta
- +0.5
- Alpha
- -1.6%
- Max Drawdown
- -2.6%
- Annualized Perf
- +10.4%
- Batting Avg vs S&P
- +50%
- Sortino
- +2.06
- Stutzer
- +0.27
- Treynor
- +0.21
- Sterling
- —
- Calmar
- +4
- Information Ratio
- -1.07
- Tracking Error
- +13.1%
- Stdev Down
- +5.2%
- Winning Months %
- +50%
- Losing Months %
- +50%
- Best 12 Months
- —
- Worst 12 Months
- —
- Efficiency Ratio
- +0.31
- Sharpe
- +0.81
- Stdev Sectors
- +30.9%
- Skewness
- +0.78
- Kurtosis
- -0.6
- Upside Potential
- +4.15
Reported value over time
Sector allocation
Sector allocation over time
Quarterly history
Holding changes this quarter
Closed-End Fund Advisors, Inc.'s most significant position changes for 2026-06-30: Sold out: Mfs High Income Municipal Tr (XCXEX); New buy: ; New buy: Sixth Street Specialty Lendi (TSLX); Sold out: Airbnb Inc-class A (ABNB); Sold out: Oaktree Specialty Lending Co (OCSL).
1–50 of 172
Filing History
FAQ
What is Closed-End Fund Advisors, Inc. and what type of investor is it?
Closed-End Fund Advisors, Inc. is an investment manager that files SEC Form 13F quarterly, disclosing its U.S. public equity holdings to regulators. As of the most recent reporting period (2026-06-30), the firm manages a tracked equity portfolio valued at approximately $102.4M, spread across 163 disclosed positions.
What are Closed-End Fund Advisors, Inc.'s largest equity positions?
Based on the latest 13F filing, Closed-End Fund Advisors, Inc.'s top holdings by market value are:
1. Kayne Anderson Energy Infra (KYN) — $4.3M (4.2%)
2. Bluerock Private Real Estate (BPRE) — $2.7M (2.6%)
3. Aberdeen Municipal Income (MFM) — $2.6M (2.6%)
4. Allspring Global Dividend Op (EOD) — $2.3M (2.2%)
5. Tortoise Energy Infrastruct (TYG) — $1.9M (1.9%)
What changes did Closed-End Fund Advisors, Inc. make in its most recent portfolio filing?
In the latest reported quarter, Closed-End Fund Advisors, Inc. made 150 notable position adjustments: 10 new positions were initiated, 66 existing holdings were added to, 65 positions were partially reduced, and 9 were completely exited. The largest of these moves: Sold out: Mfs High Income Municipal Tr (XCXEX); New buy: ; New buy: Sixth Street Specialty Lendi (TSLX); Sold out: Airbnb Inc-class A (ABNB); Sold out: Oaktree Specialty Lending Co (OCSL)
What sectors does Closed-End Fund Advisors, Inc. focus on?
Closed-End Fund Advisors, Inc. is concentrated in the following sectors based on its current disclosed equity portfolio:
• Financials: 77.0%
• Information Technology: 12.0%
• Health Care: 11.0%
Investment Profile
Closed-End Fund Advisors, Inc. returned an annualized 10.4% over the trailing 6 months — underperforming the S&P 500 by 1.6 points — based on a reconstructed track record of its disclosed 13F positions, with a beta of 0.50 (less volatile than the market) and a 50% quarterly batting average against the index.
Its portfolio is broadly diversified and long-term-holding, with 77.0% of the portfolio concentrated in Financials.
It has added to its FSSL position over the past two quarters (+$1.3M, now $1.9M), while trimming GBDC over the same stretch (-$5.2M, still holding $490.5K).
Peer Institutions
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HC
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CIK 0001727612
Total reported value
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26 stks
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Concentration29.0
Portfolio Stability32.0
Sector conviction86.0
AUM within 0.0% of this institution
View detail
SG
Sherry Group, Inc.
CIK 0002107738
Total reported value
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SC
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Total reported value
$102.3M
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Stale — no recent filing
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Portfolio Stability100.0
Sector conviction100.0
AUM within 0.0% of this institution
View detail
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Developer Access
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