Special Opportunities Fund Inc. (SPE) 2018年年度报告「NYSE」.pdf

1、 Special Opportunities Fund,Inc.(SPE)Annual ReportFor the year endedDecember 31,2018Beginning on January 1,2021,as permitted by regulations adopted by theU.S.Securities and Exchange Commission,paper copies of the Funds shareholderreports will no longer be sent by mail,unless you specifically request

2、 paper copiesof the reports from the Fund or from your financial intermediary(such as abroker-dealer or bank).Instead,the reports will be made available on a website,and you will be notified by mail each time a report is posted and provided with awebsite link to access the report.If you already elec

3、ted to receive shareholder reports electronically,you will not beaffected by this change and you need not take any action.You may elect toreceive shareholder reports and other communications by contacting yourfinancial intermediary(such as a broker-dealer or bank)or,if you are a directinvestor,by ca

4、lling the Funds Transfer Agent,American Stock Transfer&TrustCompany,LLC,at 1-800-937-5449.You may elect to receive all future reports in paper free of charge.If you investthrough a financial intermediary,you can contact your financial intermediary torequest that you continue to receive paper copies

5、of your shareholder reports;ifyou invest directly with the Fund,you can call the Funds Transfer Agent,American Stock Transfer&Trust Company,LLC,at 1-800-937-5449.Your electionto receive reports in paper form will apply to all funds held in your account withyour financial intermediary.February 27,201

6、9Dear Fellow Shareholders:After paying a year-end dividend of$1.45,the net asset value(NAV)of SpecialOpportunities Fund closed the year at$13.78.In the second half of 2018,theNAV decreased by 9.24%from$16.78 to$15.23(after adding back the$1.45dividend)vs.a decline of 6.85%by the S&P 500 Index.For th