Highland Opportunities & Income Fund
Sponsor: NexPoint · Inception Nov 6, 2017 · Pays monthly
Market priceShare price
$6.19
-0.80% ($-0.05)
NAVAsset value per share
—
as of —
Premium / discountPrice vs. assets
NAV unavailable
Close vs NAV, Oct 16, 2026
Distribution rate (price)Payout rate
7.46%
regular, annualised · on NAV —
Expense ratioAnnual cost
Not reported
no tagged fee table
LeverageBorrowing
Not reported
senior securities not tagged
Quote status: Market closed — last regular-session price · last trade Oct 16, 2026, 4:00 PM EDT (exchange time, ET) · retrieved Oct 16, 2026, 10:40 PM EDTRegular-session prices; extended-hours quotes are not displayed.
Full portfolio as filed on SEC Form N-PORT for the month ending Jun 30, 2026, filed Aug 31, 2026. 68 positions; weights are percent of net assets as reported. Weights sum to 100.0% — leverage, cash, derivatives and short positions mean totals need not equal 100%. This is a historical report, not a live portfolio.
Top 10 holdings
| # | Security | Type | Country | Weight | Value (USD) |
|---|---|---|---|---|---|
| 1 | N/A | Equity | United States | 8.56% | $71.9M |
| 2 | N/A | Equity | United States | 8.23% | $69.1M |
| 3 | N/A | Equity | United States | 7.60% | $63.8M |
| 4 | N/A | Equity | United States | 6.08% | $51.1M |
| 5 | NEXPOINT REAL ESTATE FINANCE, INC. | Equity | United States | 5.30% | $44.5M |
| 6 | N/A | Debt | United States | 5.22% | $43.9M |
| 7 | N/A | Short-term inv. | United States | 5.02% | $42.2M |
| 8 | N/A | Debt | United States | 3.98% | $33.5M |
| 9 | N/A | Equity | United States | 3.03% | $25.5M |
| 10 | N/A | Debt | United States | 2.56% | $21.5M |
Asset class
| Asset class | % net assets | Value |
|---|---|---|
| Equity (common) | 66.66% | $560M |
| Short-term investment vehicle | 5.02% | $42.2M |
| Loans | 3.43% | $28.8M |
| Debt | 22.42% | $188M |
| Equity (preferred) | 1.37% | $11.5M |
| CDO/CLO | 0.89% | $7.5M |
| Mortgage-backed | 0.14% | $1.2M |
| Repurchase agreement | 0.08% | $633K |
Country (top 12)
| Country (top 12) | % net assets | Value |
|---|---|---|
| United States | 99.42% | $835M |
| Cayman Islands | 0.42% | $3.5M |
| Jersey | 0.13% | $1.1M |
| Japan | 0.03% | $249K |
Region
| Region | % net assets | Value |
|---|---|---|
| United States | 99.42% | $835M |
| Offshore domiciles | 0.42% | $3.5M |
| Developed Europe | 0.13% | $1.1M |
| Japan | 0.03% | $249K |
Issuer type
| Issuer type | % net assets | Value |
|---|---|---|
| Other | 76.69% | $644M |
| Corporate | 23.31% | $196M |
Fair-value level
| Fair-value level | % net assets | Value |
|---|---|---|
| Level 3 | 74.56% | $627M |
| Level 2 | 7.88% | $66.2M |
| Level 1 | 17.57% | $148M |
Level 3 = valued with unobservable inputs (typically private or illiquid).
Long / short
| Long / short | % net assets | Value |
|---|---|---|
| Long | 100.00% | $840M |
All allocation percentages use net assets as the denominator (N-PORT convention). A position's share of invested assets may differ from its share of the whole fund including cash and leverage.
All 68 positions
| Security | Identifier | Type | Issuer | Country | Balance | Units | Value (USD) | Weight | FV level |
|---|---|---|---|---|---|---|---|---|---|
| N/A | — | Equity | OTHER | United States | 2,513,991 | shares | $71.9M | 8.56% | 3 |
| N/A | — | Equity | OTHER | United States | 105,635,401 | shares | $69.1M | 8.23% | 3 |
| N/A | — | Equity | OTHER | United States | 4,877,212 | shares | $63.8M | 7.60% | 3 |
| N/A | — | Equity | OTHER | United States | 994 | shares | $51.1M | 6.08% | 3 |
| NEXPOINT REAL ESTATE FINANCE, INC. | 65342V101 | Equity | OTHER | United States | 2,872,286 | shares | $44.5M | 5.30% | 1 |
| N/A | — | Debt | CORP | United States | 45,000,000 | principal | $43.9M | 5.22% | 3 |
| N/A | 261908107 | Short-term inv. | OTHER | United States | 42,173,601 | principal | $42.2M | 5.02% | 1 |
| N/A | — | Debt | CORP | United States | 43,121,364 | principal | $33.5M | 3.98% | 3 |
| N/A | 430101576 | Equity | OTHER | United States | 1,051,896 | shares | $25.5M | 3.03% | 1 |
| N/A | — | Debt | CORP | United States | 21,510,000 | principal | $21.5M | 2.56% | 2 |
| N/A | — | Debt | CORP | United States | 20,284,335 | principal | $20.3M | 2.41% | 3 |
| N/A | — | Equity | OTHER | United States | 12,026,660 | shares | $18M | 2.14% | 3 |
| N/A | 933DXD000 | Equity | OTHER | United States | 116,277,473 | shares | $113M | 13.45% | 3 |
| N/A | — | Debt | CORP | United States | 15,000,000 | principal | $16.5M | 1.96% | 3 |
| N/A | — | Equity | OTHER | United States | 453,675 | shares | $15.9M | 1.89% | 3 |
| MIDWAVE WIRELESS | — | Loan | OTHER | United States | 13,174,435 | principal | $13.1M | 1.56% | 3 |
| Fermi Inc | 314911108 | Equity | OTHER | United States | 1,400,000 | shares | $12.8M | 1.53% | 1 |
| N/A | — | Debt | CORP | United States | 12,761,637 | principal | $12.7M | 1.52% | 3 |
| N/A | — | Equity | OTHER | United States | 21,608 | shares | $12.6M | 1.49% | 3 |
| N/A | — | Debt | CORP | United States | 12,382,159 | principal | $12.4M | 1.47% | 2 |
| N/A | — | Equity | OTHER | United States | 27,134 | shares | $11.4M | 1.36% | 3 |
| N/A | — | Equity | OTHER | United States | 3,440,476 | shares | $9.9M | 1.18% | 3 |
| N/A | 44988Q106 | Equity | OTHER | United States | 2,006,665 | shares | $8.5M | 1.02% | 3 |
| NEXPOINT DIVERSIFIED REAL ESTATE TRUST | 65340G205 | Equity | OTHER | United States | 1,595,828 | shares | $8.3M | 0.99% | 1 |
| N/A | — | Equity | OTHER | United States | 2,361,111 | shares | $8.2M | 0.98% | 3 |
| N/A | — | Debt | CORP | United States | 6,470,123 | principal | $6.5M | 0.77% | 2 |
| N/A | — | Debt | CORP | United States | 6,500,000 | principal | $6.4M | 0.76% | 3 |
| LAKE AT LAS VEGAS | 50202LAB0 | Loan | OTHER | United States | 6,802,782 | principal | $6.4M | 0.76% | 3 |
| DISCOVERY HLDG TL B | — | Loan | OTHER | United States | 6,000,000 | principal | $6M | 0.72% | 2 |
| NEXPOINT RESIDENTIAL TRUST, INC. | 65341D102 | Equity | OTHER | United States | 213,700 | shares | $6M | 0.71% | 1 |
| N/A | — | Debt | CORP | United States | 6,400,000 | principal | $5M | 0.59% | 3 |
| DWIGHT ISSUER LLCrestricted | 233641AG4 | CDO/CLO | CORP | United States | 4,000,000 | principal | $4M | 0.48% | 2 |
| SOUTH STREET SECURITIES FUNDING LLC | 84046SAF5 | Debt | CORP | United States | 4,000,000 | principal | $3.9M | 0.47% | 2 |
| NEXPOINT REAL ESTATE FINANCE, INC. | 65342V408 | Preferred | OTHER | United States | 150,977 | shares | $3.7M | 0.44% | 1 |
| N/A | — | Preferred | OTHER | United States | 270,246 | shares | $3.5M | 0.42% | 3 |
| N/A | — | Debt | CORP | United States | 3,000,000 | principal | $3.3M | 0.39% | 3 |
| N/A | 003CVR016 | Equity | OTHER | United States | 2,160,000 | shares | $3.2M | 0.39% | 3 |
| N/A | — | Equity | OTHER | United States | 34,512 | shares | $2.9M | 0.34% | 3 |
| N/A | — | Debt | CORP | United States | 2,500,972 | principal | $2.6M | 0.31% | 2 |
| MidWave Wireless, Inc. Tranche K Loan | — | Loan | OTHER | United States | 1,983,120 | principal | $2M | 0.23% | 2 |
| N/A | — | Preferred | OTHER | United States | 144,132 | shares | $2M | 0.23% | 3 |
| TALOS ENERGY INC. | 87484T108 | Equity | OTHER | United States | 139,112 | shares | $1.8M | 0.21% | 1 |
| NORTHWOODS CAPITAL LIMITED | 66858EAC7 | CDO/CLO | CORP | Cayman Islands | 4,122,401 | principal | $1.7M | 0.20% | 2 |
| HIGHLAND OPPORTUNITIES AND INCOME FUND | 43010E404 | Equity | OTHER | United States | 207,152 | shares | $1.5M | 0.18% | 1 |
| BRAEMAR HOTELS & RESORTS INC. | 10482B200 | Preferred | OTHER | United States | 100,000 | shares | $1.4M | 0.16% | 1 |
| SARANAC CLO LIMITED | 803166AG2 | CDO/CLO | CORP | Jersey | 3,353,312 | principal | $1.1M | 0.13% | 2 |
| American Traffic/ATS Consol/Verra Mobi 9/25 TLB | — | Loan | OTHER | United States | 1,000,000 | principal | $914K | 0.11% | 2 |
| WHEELER REAL ESTATE INVESTMENT TRUST, INC. | 963025309 | Preferred | OTHER | United States | 82,301 | shares | $823K | 0.10% | 2 |
| MP CLO LTD | 55320TAD5 | CDO/CLO | CORP | Cayman Islands | 6,927,735 | principal | $597K | 0.07% | 2 |
| CIFC FUNDING LTD | 12550BAE4 | MBS | OTHER | Cayman Islands | 2,000,000 | principal | $535K | 0.06% | 2 |
| CIFC FUNDING LTD | 12549WAE2 | MBS | OTHER | Cayman Islands | 3,324,756 | principal | $506K | 0.06% | 2 |
| MidWave Wireless, Inc. Tranche J Loan | — | Loan | OTHER | United States | 266,917 | principal | $265K | 0.03% | 2 |
| CITADEL SECURITIES LLC | ticker CITA | Repo | OTHER | United States | 249,000 | principal | $249K | 0.03% | 2 |
| DAIWA CAPITAL MARKETS AMERICA INC | ticker DAIW | Repo | OTHER | Japan | 249,000 | principal | $249K | 0.03% | 2 |
| CITIGROUP GLOBAL MARKETS INC | ticker CIGM | Repo | OTHER | United States | 135,079 | principal | $135K | 0.02% | 2 |
| WHEELER REAL ESTATE INVESTMENT TRUST, INC. | 963025606 | Preferred | OTHER | United States | 2,990 | shares | $108K | 0.01% | 2 |
| MIDWAVE WIRELESS 5/20 TL | — | Loan | OTHER | United States | 102,373 | principal | $102K | 0.01% | 3 |
| MIDWAVE WIRELESS H | — | Loan | OTHER | United States | 95,515 | principal | $95K | 0.01% | 3 |
| OZLM FUNDING LTD | 67111XAC6 | CDO/CLO | CORP | Cayman Islands | 3,512,246 | principal | $70.2K | 0.01% | 2 |
| CIFC FUNDING LTD | 12549LAE6 | MBS | OTHER | Cayman Islands | 2,500,000 | principal | $50K | 0.01% | 2 |
| COVENANT CREDIT PARTNERS CLO | 22284JAC3 | CDO/CLO | CORP | Cayman Islands | 2,308,143 | principal | $46.2K | 0.01% | 2 |
| N/A | — | Equity | OTHER | United States | 1,118,286 | shares | $43.6K | 0.01% | 3 |
| N/A | — | Equity | OTHER | United States | 436 | shares | $36.1K | 0.00% | 3 |
| THL CREDIT WIND RIVER CLO LLC | 88432BAC2 | MBS | OTHER | Cayman Islands | 5,955,627 | principal | $29.8K | 0.00% | 2 |
| CIFC FUNDING LTD | 12548YAD1 | MBS | OTHER | Cayman Islands | 5,462,500 | principal | $29.6K | 0.00% | 2 |
| IHEARTCOMMUNICATIONS, INC. | 45174HBJ5 | Debt | CORP | United States | 2,945 | principal | $2.9K | 0.00% | 2 |
| CIFC FUNDING LTD | 12548NAG8 | MBS | OTHER | Cayman Islands | 3,000,000 | principal | $300 | 0.00% | 2 |
| CLAYMORE COMMON STOCK | — | Equity | OTHER | United States | 11,561,680 | shares | $0 | 0.00% | 3 |
Equities show share counts; bonds and loans show principal amount. Coupon, maturity and ratings are shown where the filing discloses them. Source: SEC N-PORT via market-data vendor re-serve, position-level.
Holdings reports on file
| Report date | Filed | Positions | Σ weight | Net assets (calc.) | Coverage |
|---|---|---|---|---|---|
| Jun 30, 2026 | Aug 31, 2026 | 68 | 100.0% | $840M | full |
| Mar 31, 2026 | Jun 1, 2026 | 62 | 100.0% | $823M | full |
| Dec 31, 2025 | Mar 2, 2026 | 63 | 100.0% | $832M | full |
Net assets here are calculated from position values ÷ reported weights (median across positions), not a reported figure.
CEF Explorer research page for Highland Opportunities & Income Fund. Figures carry their own dates and sources; a discount to NAV does not guarantee convergence or any return. This is not investment advice.