NexPoint Strategic Opportunities Fund
NHF
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- NexPoint Strategic Opportunities Fund (NYSE: NHF) is a non-diversified, closed-end management investment trust that seeks to generate current income and capital appreciation through investments primarily in below investment grade debt securities, equity securities, real estate-related assets, and other opportunistic strategies; the fund employs hedging techniques to manage risk exposure. Its portfolio includes credit instruments, public and private equities, real estate investments, and structured products such as preferred shares and convertible notes, with a focus on alternative opportunities across sectors like real estate and distressed assets. Managed by NexPoint Advisors, L.P., the fund targets institutional and retail investors seeking high-yield returns from non-traditional fixed income and equity allocations. The fund, formerly known as NexPoint Credit Strategies Fund, completed a significant strategic reorganization in recent years, including shareholder approval on August 28, 2020, for conversion to a diversified real estate investment trust (REIT) structure, accompanied by amendments to its fundamental investment policies to enable real estate-focused operations and portfolio realignment. In March 2021, it filed with the U.S. Securities and Exchange Commission for deregistration under the Investment Company Act of 1940 following portfolio repositioning to exit investment company status and qualify for REIT tax treatment during its 2021 taxable year; the fund also extended tender offers for shares of United Development Funding IV in 2021 and announced a name change to NexPoint Diversified Real Estate Trust alongside further REIT conversion updates. More recently, affiliated NexPoint entities pursued balance sheet enhancements, such as NexPoint Storage Partners' 2024 refinancing of $825 million in debt through $750 million in CMBS financing from Citigroup and JPMorgan and $75 million in Series F Preferred Equity via Raymond James, signaling broader strategic momentum in real estate holdings. Headquartered in Dallas, Texas, at 2515 McKinney Avenue, Suite 1100, the fund operates under NexPoint Advisors, L.P., part of the NexPoint alternative investment platform founded in 2012, with primary activities centered in the United States across diverse markets including self-storage, commercial real estate, and credit opportunities.