Nexpoint Asset Management, L.P.

Dallas, TX

$1.5bn in 67 US stocks at the end of 30 June 2026. The top 10 are 50.4% of the money. It changed about 63.6% of the portfolio this quarter.

Value

$1.5bn

Stocks

Top 10 share

50.4%

Turnover

63.6%

What changed this quarter

New

Bought for the first time this quarter.

Nuvalent
5.1% of the fund
Global Business Travel GroupGBTG
5.1% of the fund
Taylor Morrison Home
5.0% of the fund
Essential UtilitiesWTRG
4.6% of the fund
Topbuild COR
4.4% of the fund
Janus Henderson Group
4.4% of the fund
Sila Realty Trust
4.0% of the fund
Avanos MED
3.6% of the fund
Catalyst Pharmaceuticals
3.4% of the fund
OrganonOGN
2.7% of the fund
RokuROKU
2.7% of the fund
Apogee TherapeuticsAPGE
2.7% of the fund
GlobalstarGSAT
0.8% of the fund
Esperion Therapeutics INC NE
0.6% of the fund
Cross Ctry Healthcare
0.6% of the fund
AptivAPTV
0.5% of the fund
Stellar Bancorp
0.4% of the fund
NRG EnergyNRG
0.4% of the fund
Primoris ServicesPRIM
0.2% of the fund
FlowserveFLS
0.2% of the fund
OnterrisONT
0.1% of the fund
Verra MobilityVRRM
0.1% of the fund
McCormickMKC
0.1% of the fund
Vistance NetworksVISN
0.1% of the fund
Suja LifeSUJA
<0.1% of the fund

Added

Bought more of a stock they already held.

Electronic ArtsEA
4.2% of the fund
+2%
Whitestone Reit
3.9% of the fund
+248%
Warner Bros. DiscoveryWBD
3.4% of the fund
+122%
Chart Inds
3.1% of the fund
+19%
Txnm EnergyTXNM
3.1% of the fund
+50%
FermiFRMI
2.4% of the fund
+203%
TalkspaceTALK
2.4% of the fund
+128%
Highland Opportunities & Income FundHFRO
2.2% of the fund
+11%
Nexpoint Diversified Real Estate TrustNXDT
1.9% of the fund
+2%
Clear Channel Outdoor HoldingsCCO
1.7% of the fund
+14%
Energy Transfer L PET
1.0% of the fund
+13%
AmrizeAMRZ
0.2% of the fund
+57%
Resideo TechnologiesREZI
0.2% of the fund
+37%

Cut

Sold some of their stake.

Kyivstar GroupKYIV
0.2% of the fund
-22%
Lionsgate StudiosLION
0.2% of the fund
-24%
Sotera HealthSHC
0.2% of the fund
-39%
MiddlebyMIDD
0.2% of the fund
-60%

Sold out

Sold their entire stake.

Hologic
-100%
Clearwater Analytics Hldgs I
-100%
Sealed Air Corp New
-100%
Onestream
-100%
Air Lease
-100%
CSG SYS Intl
-100%
Masimo
-100%
Semrush Hldgs
-100%
Terns Pharmaceuticals
-100%
Arcellx
-100%
Proassurance
-100%
Amicus Therapeutics
-100%
Select MED Hldgs
-100%
Coterra EnergyCTRA
-100%
TWO Harbors InvestmentTWO
-100%
Veris Residential INC.com
-100%
RalliantRAL
-100%
Reynolds Consumer ProductsREYN
-100%
Fortune Brands InnovationsFBIN
-100%
YETI HoldingsYETI
-100%
Southwest Gas HoldingsSWX
-100%
Alexandria Real Estate EquitiesARE
-100%
Genuine PartsGPC
-100%
Brookfield Renewable EnergyBEP
-100%
BrazeBRZE
-100%

Holdings

NexPoint Real Estate FinanceNREF
Share
9.8%
Value
$146m
Shares
9,439,635
Held
Nuvalent
Share
5.1%
Value
$76m
Shares
617,820
New
Global Business Travel GroupGBTG
Share
5.1%
Value
$76m
Shares
8,089,339
New
Taylor Morrison Home
Share
5.0%
Value
$75m
Shares
1,049,930
New
Essential UtilitiesWTRG
Share
4.6%
Value
$68m
Shares
1,780,349
New
Topbuild COR
Share
4.4%
Value
$66m
Shares
185,680
New
Janus Henderson Group
Share
4.4%
Value
$66m
Shares
1,263,211
New
Electronic ArtsEA
Share
4.2%
Value
$63m
Shares
306,964
+2%
Sila Realty Trust
Share
4.0%
Value
$60m
Shares
1,966,063
New
Whitestone Reit
Share
3.9%
Value
$58m
Shares
3,050,205
+248%
Avanos MED
Share
3.6%
Value
$54m
Shares
2,177,366
New
Warner Bros. DiscoveryWBD
Share
3.4%
Value
$52m
Shares
1,933,000
+122%
Catalyst Pharmaceuticals
Share
3.4%
Value
$50m
Shares
1,602,557
New
Chart Inds
Share
3.1%
Value
$46m
Shares
220,917
+19%
Txnm EnergyTXNM
Share
3.1%
Value
$46m
Shares
811,090
+50%
OrganonOGN
Share
2.7%
Value
$41m
Shares
3,009,630
New
RokuROKU
Share
2.7%
Value
$40m
Shares
292,770
New
Apogee TherapeuticsAPGE
Share
2.7%
Value
$40m
Shares
299,940
New
Brighthouse FinancialBHF
Share
2.5%
Value
$37m
Shares
582,977
Held
FermiFRMI
Share
2.4%
Value
$36m
Shares
3,941,477
+203%
TalkspaceTALK
Share
2.4%
Value
$35m
Shares
6,786,800
+128%
Highland Opportunities & Income FundHFRO
Share
2.2%
Value
$33m
Shares
4,599,295
+11%
Nexpoint Diversified Real Estate TrustNXDT
Share
1.9%
Value
$28m
Shares
5,481,827
+2%
NexPoint Residential TrustNXRT
Share
1.7%
Value
$26m
Shares
934,752
Held
Clear Channel Outdoor HoldingsCCO
Share
1.7%
Value
$26m
Shares
10,616,260
+14%
TelesatTSAT
Share
1.3%
Value
$20m
Shares
396,623
Held
Energy Transfer L PET
Share
1.0%
Value
$15m
Shares
773,690
+13%
GlobalstarGSAT
Share
0.8%
Value
$12m
Shares
145,946
New
Esperion Therapeutics INC NE
Share
0.6%
Value
$9m
Shares
2,955,920
New
Cross Ctry Healthcare
Share
0.6%
Value
$9m
Shares
656,630
New
AptivAPTV
Share
0.5%
Value
$8m
Shares
130,805
New
Central Puerto S ACEPU
Share
0.5%
Value
$8m
Shares
530,000
Held
Talos EnergyTALO
Share
0.4%
Value
$6m
Shares
496,596
Held
Stellar Bancorp
Share
0.4%
Value
$5m
Shares
138,128
New
NRG EnergyNRG
Share
0.4%
Value
$5m
Shares
36,300
New
Braemar Hotels & Resorts
Share
0.3%
Value
$5m
Shares
339,774
Held
Primoris ServicesPRIM
Share
0.2%
Value
$4m
Shares
37,025
New
Kyivstar GroupKYIV
Share
0.2%
Value
$4m
Shares
219,271
-22%
Lionsgate StudiosLION
Share
0.2%
Value
$3m
Shares
227,768
-24%
Sotera HealthSHC
Share
0.2%
Value
$3m
Shares
190,916
-39%
AmrizeAMRZ
Share
0.2%
Value
$3m
Shares
49,510
+57%
MiddlebyMIDD
Share
0.2%
Value
$3m
Shares
14,825
-60%
FlowserveFLS
Share
0.2%
Value
$3m
Shares
33,800
New
Resideo TechnologiesREZI
Share
0.2%
Value
$2m
Shares
80,100
+37%
OnterrisONT
Share
0.1%
Value
$2m
Shares
110,353
New
Atrium TherapeuticsRNA
Share
0.1%
Value
$2m
Shares
150,025
Held
Cresud S A C I F Y ACRESY
Share
0.1%
Value
$2m
Shares
170,852
Held
Verra MobilityVRRM
Share
0.1%
Value
$2m
Shares
420,000
New
BILL HoldingsBILL
Share
0.1%
Value
$2m
Shares
46,300
Held
McCormickMKC
Share
0.1%
Value
$2m
Shares
31,409
New
Vistance NetworksVISN
Share
0.1%
Value
$2m
Shares
122,500
New
Ready CapitalRC
Share
<0.1%
Value
$1m
Shares
850,129
Held
ParsonsPSN
Share
<0.1%
Value
$1m
Shares
26,000
Held
FiservFISV
Share
<0.1%
Value
$1m
Shares
25,000
Held
Seritage Growth PropertiesSRG
Share
<0.1%
Value
$1m
Shares
417,500
Held
Martin Midstream Prtnrs L PMMLP
Share
<0.1%
Value
$943,034
Shares
408,240
Held
Suja LifeSUJA
Share
<0.1%
Value
$839,104
Shares
82,589
New
Wheeler Real Estate Invt TR
Share
<0.1%
Value
$823,010
Shares
82,301
Held
Loma Negra Compania Industrial Argentina Sociedad AnonimaLOMA
Share
<0.1%
Value
$732,800
Shares
64,000
Held
AdobeADBE
Share
<0.1%
Value
$593,738
Shares
2,896
Held
Honeywell InternationalHON
Share
<0.1%
Value
$570,945
Shares
2,550
New
Honeywell AerospaceHONA
Share
<0.1%
Value
$563,754
Shares
2,550
New
indie SemiconductorINDI
Share
<0.1%
Value
$476,389
Shares
106,100
Held
Core Natural ResourcesCNR
Share
<0.1%
Value
$429,547
Shares
5,368
Held
Grupo SupervielleSUPV
Share
<0.1%
Value
$234,738
Shares
24,300
Held
Heron TherapeuticsHRTX
Share
<0.1%
Value
$203,050
Shares
475,750
Held
Payoneer GlobalPAYO
Share
<0.1%
Value
$97,544
Shares
13,700
New

Company	Share of fund	Value	Shares	Change
NexPoint Real Estate FinanceNREF	9.8%	$146m	9,439,635	Held
Nuvalent	5.1%	$76m	617,820	New
Global Business Travel GroupGBTG	5.1%	$76m	8,089,339	New
Taylor Morrison Home	5.0%	$75m	1,049,930	New
Essential UtilitiesWTRG	4.6%	$68m	1,780,349	New
Topbuild COR	4.4%	$66m	185,680	New
Janus Henderson Group	4.4%	$66m	1,263,211	New
Electronic ArtsEA	4.2%	$63m	306,964	+2%
Sila Realty Trust	4.0%	$60m	1,966,063	New
Whitestone Reit	3.9%	$58m	3,050,205	+248%
Avanos MED	3.6%	$54m	2,177,366	New
Warner Bros. DiscoveryWBD	3.4%	$52m	1,933,000	+122%
Catalyst Pharmaceuticals	3.4%	$50m	1,602,557	New
Chart Inds	3.1%	$46m	220,917	+19%
Txnm EnergyTXNM	3.1%	$46m	811,090	+50%
OrganonOGN	2.7%	$41m	3,009,630	New
RokuROKU	2.7%	$40m	292,770	New
Apogee TherapeuticsAPGE	2.7%	$40m	299,940	New
Brighthouse FinancialBHF	2.5%	$37m	582,977	Held
FermiFRMI	2.4%	$36m	3,941,477	+203%
TalkspaceTALK	2.4%	$35m	6,786,800	+128%
Highland Opportunities & Income FundHFRO	2.2%	$33m	4,599,295	+11%
Nexpoint Diversified Real Estate TrustNXDT	1.9%	$28m	5,481,827	+2%
NexPoint Residential TrustNXRT	1.7%	$26m	934,752	Held
Clear Channel Outdoor HoldingsCCO	1.7%	$26m	10,616,260	+14%
TelesatTSAT	1.3%	$20m	396,623	Held
Energy Transfer L PET	1.0%	$15m	773,690	+13%
GlobalstarGSAT	0.8%	$12m	145,946	New
Esperion Therapeutics INC NE	0.6%	$9m	2,955,920	New
Cross Ctry Healthcare	0.6%	$9m	656,630	New
AptivAPTV	0.5%	$8m	130,805	New
Central Puerto S ACEPU	0.5%	$8m	530,000	Held
Talos EnergyTALO	0.4%	$6m	496,596	Held
Stellar Bancorp	0.4%	$5m	138,128	New
NRG EnergyNRG	0.4%	$5m	36,300	New
Braemar Hotels & Resorts	0.3%	$5m	339,774	Held
Primoris ServicesPRIM	0.2%	$4m	37,025	New
Kyivstar GroupKYIV	0.2%	$4m	219,271	-22%
Lionsgate StudiosLION	0.2%	$3m	227,768	-24%
Sotera HealthSHC	0.2%	$3m	190,916	-39%
AmrizeAMRZ	0.2%	$3m	49,510	+57%
MiddlebyMIDD	0.2%	$3m	14,825	-60%
FlowserveFLS	0.2%	$3m	33,800	New
Resideo TechnologiesREZI	0.2%	$2m	80,100	+37%
OnterrisONT	0.1%	$2m	110,353	New
Atrium TherapeuticsRNA	0.1%	$2m	150,025	Held
Cresud S A C I F Y ACRESY	0.1%	$2m	170,852	Held
Verra MobilityVRRM	0.1%	$2m	420,000	New
BILL HoldingsBILL	0.1%	$2m	46,300	Held
McCormickMKC	0.1%	$2m	31,409	New
Vistance NetworksVISN	0.1%	$2m	122,500	New
Ready CapitalRC	<0.1%	$1m	850,129	Held
ParsonsPSN	<0.1%	$1m	26,000	Held
FiservFISV	<0.1%	$1m	25,000	Held
Seritage Growth PropertiesSRG	<0.1%	$1m	417,500	Held
Martin Midstream Prtnrs L PMMLP	<0.1%	$943,034	408,240	Held
Suja LifeSUJA	<0.1%	$839,104	82,589	New
Wheeler Real Estate Invt TR	<0.1%	$823,010	82,301	Held
Loma Negra Compania Industrial Argentina Sociedad AnonimaLOMA	<0.1%	$732,800	64,000	Held
AdobeADBE	<0.1%	$593,738	2,896	Held
Honeywell InternationalHON	<0.1%	$570,945	2,550	New
Honeywell AerospaceHONA	<0.1%	$563,754	2,550	New
indie SemiconductorINDI	<0.1%	$476,389	106,100	Held
Core Natural ResourcesCNR	<0.1%	$429,547	5,368	Held
Grupo SupervielleSUPV	<0.1%	$234,738	24,300	Held
Heron TherapeuticsHRTX	<0.1%	$203,050	475,750	Held
Payoneer GlobalPAYO	<0.1%	$97,544	13,700	New

Options (3)

FermiFRMI
Type
Put
Value
$916,000
Contracts
100,000
EQV Ventures AC Corp. IIEVAC-WS
Type
Call
Value
$26,633
Contracts
67,000
Lightwave AcquisitionLWACW
Type
Call
Value
$15,495
Contracts
50,000

Company	Type	Value	Contracts
FermiFRMI	Put	$916,000	100,000
EQV Ventures AC Corp. IIEVAC-WS	Call	$26,633	67,000
Lightwave AcquisitionLWACW	Call	$15,495	50,000

Over time and by industry

Value over time

Jun '25

Dec '25

Jun '26

Value is up 42.6% since 30 June 2025.

Where the money is

Real estate16.0%

Media & telecom10.5%

Health care8.1%

Utilities8.0%

Industrials6.3%

Technology4.5%

Financial services2.5%

Retail & consumer0.5%

Energy0.5%

Materials0.2%

Everyday goods0.2%

Other42.7%

From the fund's 13F filings. They list US stocks and options only, 45 days after each quarter, and leave out cash, bonds, shorts and foreign shares.