Highland Global Allocation Fund
Sponsor: NexPoint · Inception Mar 1, 2019 · Pays monthly
Market priceShare price
$6.48
+0.47% (+$0.03)
NAVAsset value per share
$10.63
as of Oct 13, 2026 · Nasdaq NAV symbol
Premium / discountPrice vs. assets
39.04% discount *
Indicative: latest price vs latest reported NAV
Distribution rate (price)Payout rate
15.74%
regular, annualised · on NAV 9.60%
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 15, 2026, 4:00 PM EDT (exchange time, ET) · retrieved Oct 15, 2026, 5:45 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. 57 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 | HIGHLAND OPPORTUNITIES AND INCOME FUND | Equity | United States | 7.43% | $22.2M |
| 2 | Fermi Inc | Equity | United States | 6.30% | $18.9M |
| 3 | N/A | Equity | United States | 5.94% | $17.8M |
| 4 | NEXPOINT REAL ESTATE FINANCE, INC. | Equity | United States | 4.67% | $14M |
| 5 | ENERGY TRANSFER LP | Equity | United States | 4.01% | $12M |
| 6 | N/A | Debt | United States | 3.67% | $11M |
| 7 | Telesat Corporation | Equity | United States | 3.21% | $9.6M |
| 8 | N/A | Equity | United States | 3.05% | $9.1M |
| 9 | N/A | Equity | United States | 23.83% | $71.3M |
| 10 | N/A | Debt | United States | 2.78% | $8.3M |
Asset class
| Asset class | % net assets | Value |
|---|---|---|
| Equity (common) | 72.13% | $216M |
| Equity (preferred) | 2.54% | $7.6M |
| Debt | 14.26% | $42.7M |
| Loans | 10.76% | $32.2M |
| Short-term investment vehicle | 0.23% | $681K |
| Mortgage-backed | 0.08% | $231K |
Country (top 12)
| Country (top 12) | % net assets | Value |
|---|---|---|
| United States | 96.61% | $289M |
| Argentina | 2.61% | $7.8M |
| France | 0.78% | $2.3M |
Region
| Region | % net assets | Value |
|---|---|---|
| United States | 96.61% | $289M |
| Latin America | 2.61% | $7.8M |
| Developed Europe | 0.78% | $2.3M |
Issuer type
| Issuer type | % net assets | Value |
|---|---|---|
| Other | 85.74% | $256M |
| Non-U.S. sovereign | 2.53% | $7.6M |
| Corporate | 11.73% | $35.1M |
Fair-value level
| Fair-value level | % net assets | Value |
|---|---|---|
| Level 3 | 55.10% | $165M |
| Level 1 | 41.57% | $124M |
| Level 2 | 3.33% | $10M |
Level 3 = valued with unobservable inputs (typically private or illiquid).
Long / short
| Long / short | % net assets | Value |
|---|---|---|
| Long | 104.59% | $313M |
| Short | -4.59% | $-13.7M |
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 57 positions
| Security | Identifier | Type | Issuer | Country | Balance | Units | Value (USD) | Weight | FV level |
|---|---|---|---|---|---|---|---|---|---|
| HIGHLAND OPPORTUNITIES AND INCOME FUND | 43010E404 | Equity | OTHER | United States | 3,115,253 | shares | $22.2M | 7.43% | 1 |
| Fermi Inc | 314911108 | Equity | OTHER | United States | 2,058,011 | shares | $18.9M | 6.30% | 1 |
| N/A | 430101873 | Equity | OTHER | United States | 1,038,669 | shares | $17.8M | 5.94% | 1 |
| NEXPOINT REAL ESTATE FINANCE, INC. | 65342V101 | Equity | OTHER | United States | 901,385 | shares | $14M | 4.67% | 1 |
| ENERGY TRANSFER LP | 29273V100 | Equity | OTHER | United States | 627,440 | shares | $12M | 4.01% | 1 |
| N/A | — | Debt | CORP | United States | 10,992,000 | principal | $11M | 3.67% | 3 |
| Telesat Corporation | 879512309 | Equity | OTHER | United States | 189,945 | shares | $9.6M | 3.21% | 1 |
| N/A | — | Equity | OTHER | United States | 1,147,062 | shares | $9.1M | 3.05% | 3 |
| N/A | — | Equity | OTHER | United States | 169,531 | shares | $71.3M | 23.83% | 3 |
| N/A | — | Debt | CORP | United States | 8,330,000 | principal | $8.3M | 2.78% | 3 |
| Republica Argentina | 040114HV5 | Debt | NUSS | Argentina | 10,000,000 | principal | $7.5M | 2.51% | 2 |
| N/A | — | Debt | CORP | United States | 8,500,000 | principal | $7M | 2.32% | 3 |
| N/A | — | Equity | OTHER | United States | 156,528 | shares | $6.7M | 2.24% | 3 |
| APTIV PLC | G3265R107 | Equity | OTHER | United States | 101,575 | shares | $6.2M | 2.08% | 1 |
| MIDWAVE WIRELESS | — | Loan | OTHER | United States | 31,721,083 | principal | $31.5M | 10.55% | 3 |
| NEXPOINT RESIDENTIAL TRUST, INC. | 65341D102 | Equity | OTHER | United States | 195,363 | shares | $5.5M | 1.82% | 1 |
| JAMES HARDIE INDUSTRIES PUBLIC LIMITED COMPANY | G4253H101 | Equity | OTHER | United States | 188,700 | shares | $4.9M | 1.65% | 1 |
| N/A | — | Debt | CORP | United States | 5,000,000 | principal | $4.9M | 1.63% | 3 |
| TALOS ENERGY INC. | 87484T108 | Equity | OTHER | United States | 357,484 | shares | $4.6M | 1.54% | 1 |
| N/A | — | Equity | OTHER | United States | 349 | shares | $3.9M | 1.32% | 3 |
| NRG ENERGY, INC. | 629377508 | Equity | OTHER | United States | 26,470 | shares | $3.9M | 1.29% | 1 |
| NEXPOINT DIVERSIFIED REAL ESTATE TRUST | 65340G205 | Equity | OTHER | United States | 687,761 | shares | $3.6M | 1.19% | 1 |
| BRAEMAR HOTELS & RESORTS INC. | 10482B200 | Preferred | OTHER | United States | 239,774 | shares | $3.3M | 1.10% | 1 |
| Central Puerto S.A. | 155038201 | Equity | OTHER | United States | 202,250 | shares | $3M | 1.00% | 1 |
| N/A | — | Preferred | OTHER | United States | 202,684 | shares | $2.7M | 0.89% | 3 |
| PRIMORIS SERVICES CORPORATION | 74164F103 | Equity | OTHER | United States | 24,250 | shares | $2.4M | 0.80% | 1 |
| GL EVENTS SA | FR0000066672 | Equity | OTHER | France | 60,593 | shares | $2.3M | 0.78% | 1 |
| N/A | — | Equity | OTHER | United States | 100,000 | shares | $2.3M | 0.77% | 3 |
| N/A | — | Debt | CORP | United States | 2,000,000 | principal | $2M | 0.65% | 3 |
| N/A | — | Equity | OTHER | United States | 3,232 | shares | $1.9M | 0.63% | 3 |
| N/A | — | Preferred | OTHER | United States | 108,098 | shares | $1.5M | 0.49% | 3 |
| N/A | — | Equity | OTHER | United States | 66,494 | shares | $1.3M | 0.44% | 1 |
| N/A | — | Debt | CORP | United States | 1,250,486 | principal | $1.3M | 0.43% | 2 |
| SERITAGE GROWTH PROPERTIES | 81752R100 | Equity | OTHER | United States | 417,500 | shares | $1.1M | 0.37% | 1 |
| N/A | 261908107 | Short-term inv. | OTHER | United States | 680,784 | principal | $681K | 0.23% | 1 |
| MidWave Wireless, Inc. Tranche J Loan | — | Loan | OTHER | United States | 633,167 | principal | $630K | 0.21% | 3 |
| IHEARTCOMMUNICATIONS, INC.restricted | 45174HBL0 | Debt | CORP | United States | 467,594 | principal | $408K | 0.14% | 2 |
| IHEARTCOMMUNICATIONS, INC.restricted | 45174HBJ5 | Debt | CORP | United States | 304,583 | principal | $296K | 0.10% | 2 |
| Grupo Clarin S.A. | ARGCLA010015 | Equity | OTHER | Argentina | 77,866 | shares | $242K | 0.08% | 1 |
| GRUPO SUPERVIELLE S.A. | 40054A108 | Equity | OTHER | United States | 24,300 | shares | $235K | 0.08% | 1 |
| CFCRE COMMERCIAL MORTGAGE TRUSTrestricted | 12532CAA3 | MBS | OTHER | United States | 250,000 | principal | $231K | 0.08% | 2 |
| READY CAPITAL CORPORATION | 75574U101 | Equity | OTHER | United States | 116,480 | shares | $204K | 0.07% | 1 |
| NEXPOINT DIVERSIFIED REAL ESTATE TRUST | 65340G304 | Preferred | OTHER | United States | 13,831 | shares | $183K | 0.06% | 2 |
| N/A | — | Equity | OTHER | United States | 2,156,000 | shares | $172K | 0.06% | 3 |
| HERON THERAPEUTICS, INC. | 427746102 | Equity | OTHER | United States | 232,800 | shares | $99.4K | 0.03% | 1 |
| Republica Argentina | 040114HX1 | Debt | NUSS | Argentina | 63,489 | principal | $58.1K | 0.02% | 2 |
| StoneCo Ltd. | G85158106 | Equity | OTHER | United States | 3,995 | shares | $43.3K | 0.01% | 1 |
| HLS Therapeutics Inc. | 40390B109 | Equity | OTHER | United States | 10,445 | shares | $31.3K | 0.01% | 1 |
| Transocean Ltd. | H8817H100 | Equity | OTHER | United States | 121 | shares | $592 | 0.00% | 1 |
| UNITED DEVELOPMENT FUNDING - CVR | 910187103 | Equity | OTHER | United States | 116,480 | shares | $0 | 0.00% | 3 |
| Maplebear Incshort | 565394103 | Equity | OTHER | United States | -67,120 | shares | $-3.2M | -1.06% | 1 |
| BORGWARNER INC.short | US0997241064 | Equity | OTHER | United States | -33,213 | shares | $-2.2M | -0.74% | 1 |
| MAGNA INTERNATIONAL INC.short | 559222401 | Equity | OTHER | United States | -32,067 | shares | $-2.1M | -0.70% | 1 |
| LEAR CORPORATIONshort | 521865204 | Equity | OTHER | United States | -14,849 | shares | $-2M | -0.67% | 1 |
| TREX COMPANY, INC.short | 89531P105 | Equity | OTHER | United States | -33,006 | shares | $-1.7M | -0.55% | 1 |
| MASCO CORPORATIONshort | 574599106 | Equity | OTHER | United States | -19,889 | shares | $-1.6M | -0.54% | 1 |
| WD-40 COMPANYshort | 929236107 | Equity | OTHER | United States | -4,000 | shares | $-975K | -0.33% | 1 |
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 | 57 | 100.0% | $299M | full |
| Mar 31, 2026 | Jun 1, 2026 | 63 | 100.0% | $302M | full |
| Dec 31, 2025 | Mar 2, 2026 | 69 | 100.0% | $306M | full |
Net assets here are calculated from position values ÷ reported weights (median across positions), not a reported figure.
CEF Explorer research page for Highland Global Allocation Fund. Figures carry their own dates and sources; a discount to NAV does not guarantee convergence or any return. This is not investment advice.