The Central and Eastern Europe Fund

CEE • NYSE

The Central and Eastern Europe Fund is a publicly traded company on NYSE. As of Q3 2025, 25 institutional investors hold shares in this company, with total holdings valued at $12.7M. Almitas Capital LLC is the largest holder with a position valued at $2.7M.

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Overview

Overview of institutional ownership in CEE as of Q3 2025

All Institutions

Institutions: 25
Value Held: $12.7M
Shares Held: 845.6K
Avg Position: $507.1K
Median Position: $291.5K

Hedge Funds

Hedge Funds: 2
Value Held: $2.0M
Shares Held: 128.2K
Avg Position: $984.9K
Median Position: $984.9K

Biggest Investors

Institutions with the largest positions in CEE as of Q3 2025

Institution	Key People	Position Value	Ownership	Owned Since	Total AUM (Long)
Almitas Capital LLC RIA/Wealth	Ronald Dean Mass Managing Partner	$2.7M 0.61% of portfolio	0.00% 173.3K shares	Q4 2023 Held for 1y 11m	$435.9M
GABELLI FUNDS LLC Long Only Manager	John Chester Ball President	$1.8M 0.01% of portfolio	0.00% 116.0K shares	Q4 2022 Held for 2y 11m	$14.5B
Uncommon Cents Investing LLC RIA/Wealth	Sheena Marie Hanson Managing Partner	$1.2M 0.31% of portfolio	0.00% 80.5K shares	Q4 2022 Held for 2y 11m	$402.2M
Bulldog Investors, LLC Hedge Fund•Activist	Phillip Franklin Goldstein Managing Partner	$1.1M 0.27% of portfolio	0.00% 72.3K shares	Q3 2023 Held for 2y 2m	$409.9M
S STIFEL FINANCIAL CORP Long Only Manager	Adam Vartan Topalian CIO	$959.3K 0.00% of portfolio	0.00% 62.5K shares	Q4 2022 Held for 2y 11m	$109.37B
Silver Point Capital L.P. Hedge Fund•Distressed	Edward Arnold Mule CEO	$858.6K 0.06% of portfolio	0.00% 55.9K shares	Q1 2025 Held for 8 months	$1.3B
F Freestone Capital Holdings, LLC RIA/Wealth	Bonnie Mills Smallwood Partner	$691.2K 0.02% of portfolio	0.00% 45.0K shares	Q1 2025 Held for 8 months	$3.3B
M Massar Capital Management, LP Institution	-	$614.4K 0.23% of portfolio	0.00% 40.0K shares	Q1 2025 Held for 8 months	$269.6M
Deschutes Portfolio Strategy, LLC RIA/Wealth	Bryn Torkelson President	$522.2K 0.24% of portfolio	0.00% 34.0K shares	Q4 2022 Held for 2y 11m	$222.2M
RAYMOND JAMES FINANCIAL INC RIA/Wealth	Steven Robert Marcus CEO	$431.4K 0.00% of portfolio	0.00% 28.1K shares	Q1 2025 Held for 8 months	$310.43B

Net Capital Flow

Institutional buying and selling activity for CEE in Q3 2025

Traded: +$195.3K
Buyers: 8
Sellers: 11
Total Bought: +$1.4M
Total Sold: −$1.3M
Avg Position: $422.6K

Biggest Buyers

Institution	Net Bought	Current Position
Bulldog Investors, LLC Hedge Fund•Activist	+$905.8K +59.0K shares	$1.1M 72.3K shares
SUSQUEHANNA INTERNATIONAL GROUP, LLP Private Equity	+$330.5K +21.5K shares	$330.5K 21.5K shares
RAYMOND JAMES FINANCIAL INC RIA/Wealth	+$175.1K +11.4K shares	$431.4K 28.1K shares
C CSS LLC/IL Institution	+$14.0K +910.0 shares	$199.6K 13.0K shares
BARCLAYS PLC Institution	+$10.8K +- shares	$10.8K 700.0 shares
UBS Group AG Institution	+$5.5K +356.0 shares	$8.8K 571.0 shares
Annandale Capital, LLC RIA/Wealth	+$3.2K +- shares	$3.2K 20.9K shares
A Advisory Services Network, LLC RIA/Wealth	+$2.1K +134.0 shares	$2.1K 134.0 shares

Biggest Sellers

Institution	Net Sold	Current Position
S STIFEL FINANCIAL CORP Long Only Manager	−$513.0K −33.4K shares	$959.3K 62.5K shares
Accretive Wealth Partners, LLC RIA/Wealth	−$274.7K −17.7K shares	Sold Off 0 shares
BALYASNY ASSET MANAGEMENT LLC Hedge Fund•Multi-Strategy	−$188.0K −12.1K shares	Sold Off 0 shares
X XTX Topco Ltd Institution	−$178.7K −11.5K shares	Sold Off 0 shares
Investment Partners Asset Management, Inc. RIA/Wealth	−$67.6K −4.4K shares	$342.6K 22.3K shares
A Advisor Group Holdings, Inc. Institution	−$8.6K −530.0 shares	$125.5K 7.7K shares
BANK OF AMERICA CORP /DE/ Institution	−$7.0K −452.0 shares	Sold Off 0 shares
P Patriot Financial Group Insurance Agency, LLC Institution	−$6.9K −450.0 shares	$291.5K 19.0K shares
N NATIONAL BANK OF CANADA /FI/ Institution	−$5.4K −350.0 shares	Sold Off 0 shares
Almitas Capital LLC RIA/Wealth	−$1.5K −100.0 shares	$2.7M 173.3K shares

Entry and Exit Activity

Institutions that initiated new positions or completely exited CEE in Q3 2025

New Positions: 2
New Value: $14.0K
Exited Positions: 5
Exited Value: $653.9K

New Positions

Institution	Position Value
BARCLAYS PLC Institution	$10.8K 700.0 shares
Annandale Capital, LLC RIA/Wealth	$3.2K 20.9K shares

Exited Positions

Institution	Previous Position
Accretive Wealth Partners, LLC RIA/Wealth	$274.7K 17.7K shares
BALYASNY ASSET MANAGEMENT LLC Hedge Fund•Multi-Strategy	$188.0K 12.1K shares
X XTX Topco Ltd Institution	$178.7K 11.5K shares
BANK OF AMERICA CORP /DE/ Institution	$7.0K 452.0 shares
N NATIONAL BANK OF CANADA /FI/ Institution	$5.4K 350.0 shares

Options Activity

Institutions with the largest Call and Put options positions in CEE as of Q3 2025

Call Positions: 0
Call Value: -
Put Positions: 0
Put Value: -

Call Positions

Institution	Position Value
No call positions found

Put Positions

Institution	Position Value
No put positions found

Most Committed Institutions

Institutions with CEE as the highest % of their portfolio as of Q3 2025

Institution	Key People	Portfolio Weight	Ownership	Owned Since	Total AUM (Long)
Annandale Capital, LLC RIA/Wealth	Craig Wenning CEO	100.00% $3.2K	0.00% 20.9K shares	Q3 2025 Held for 2 months	$3.2K
Almitas Capital LLC RIA/Wealth	Ronald Dean Mass Managing Partner	0.61% $2.7M	0.00% 173.3K shares	Q4 2023 Held for 1y 11m	$435.9M
Uncommon Cents Investing LLC RIA/Wealth	Sheena Marie Hanson Managing Partner	0.31% $1.2M	0.00% 80.5K shares	Q4 2022 Held for 2y 11m	$402.2M
Bulldog Investors, LLC Hedge Fund•Activist	Phillip Franklin Goldstein Managing Partner	0.27% $1.1M	0.00% 72.3K shares	Q3 2023 Held for 2y 2m	$409.9M
Deschutes Portfolio Strategy, LLC RIA/Wealth	Bryn Torkelson President	0.24% $522.2K	0.00% 34.0K shares	Q4 2022 Held for 2y 11m	$222.2M
Investment Partners Asset Management, Inc. RIA/Wealth	Gregg Thomas Abella CEO	0.23% $342.6K	0.00% 22.3K shares	Q4 2023 Held for 1y 11m	$150.3M
M Massar Capital Management, LP Institution	-	0.23% $614.4K	0.00% 40.0K shares	Q1 2025 Held for 8 months	$269.6M
F FIFTH LANE CAPITAL, LP Institution	-	0.16% $154.0K	0.00% 10.0K shares	Q1 2025 Held for 8 months	$96.1M
Silver Point Capital L.P. Hedge Fund•Distressed	Edward Arnold Mule CEO	0.06% $858.6K	0.00% 55.9K shares	Q1 2025 Held for 8 months	$1.3B
P Patriot Financial Group Insurance Agency, LLC Institution	-	0.04% $291.5K	0.00% 19.0K shares	Q1 2025 Held for 8 months	$773.2M

Hedge Fund Spotlight

Discover hedge funds investing in CEE

Bulldog Investors, LLC

Hedge Fund • Activist

Portfolio ManagerPhillip Franklin Goldstein

Portfolio Value: $409.9M
Positions: 132
Last Reported: Q3 2025

Sector Allocation

Position in The Central and Eastern Europe Fund

Market Value: $1.1M
Shares Held: 72.3K
Portfolio Weight: 0.27%
Owned Since: 2023-Q3

Top Holding	Sector	Market Value	Weight
1 GAM General American Investors Company GAM	Unknown Unknown	$20.4M	4.97%
2 STEW SRH Total Return Fund STEW	Unknown Unknown	$20.3M	4.95%
3 CET Central Securities Corp. CET	Unknown Unknown	$19.8M	4.84%

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