Highland Global Allocation Fund (HGLB) Announces Addition to Portfolio Management Team, Provides Update on Recent NAV Increase
Highland Global Allocation Fund (NYSE: HGLB) named Scott Johnson as a portfolio manager effective October 7, 2025, joining existing manager James Dondero.
On October 1, 2025 the Fund's net asset value rose 18.86% ($2.24), driven primarily by an investment in a data center REIT that converted from convertible preferred to common stock and listed on Nasdaq under ticker FRMI. The position was not large by weight but had an outsized impact on NAV following the IPO. The Fund will continue to follow its stated investment objective and strategies.
Highland Global Allocation Fund (NYSE: HGLB) ha nominato Scott Johnson come responsabile del portafoglio con effetto dal 7 ottobre 2025, unendosi al gestore attuale James Dondero.
Il 1 ottobre 2025 il valore netto dell'activo del fondo è salito dell'18,86% (2,24 USD), trainato principalmente da un investimento in un REIT di data center che è passato da azioni privilegiate convertibili a azioni ordinarie e quotato su Nasdaq con il ticker FRMI. La posizione non era pesante in termini di peso, ma ha avuto un impatto sproporzionato sul NAV dopo l'IPO. Il fondo continuerà a perseguire l'obiettivo di investimento dichiarato e le strategie.
Highland Global Allocation Fund (NYSE: HGLB) designó a Scott Johnson como gestor de cartera con efecto a partir del 7 de octubre de 2025, uniéndose al actual gestor James Dondero.
El 1 de octubre de 2025, el valor neto de los activos del fondo subió un 18,86% (2,24 USD), impulsado principalmente por una inversión en un REIT de centros de datos que pasó de acciones preferentes convertibles a acciones ordinarias y cotiza en Nasdaq bajo el ticker FRMI. La posición no era significativa en tamaño, pero tuvo un impacto desproporcionado en el NAV tras la OPV. El fondo seguirá persiguiendo su objetivo de inversión y las estrategias declaradas.
Highland Global Allocation Fund (NYSE: HGLB)가 Scott Johnson을 포트폴리오 매니저로 임명했으며 2025년 10월 7일부터 효력이 발생하여 기존 매니저인 James Dondero에 합류합니다.
2025년 10월 1일 펀드의 순자산가치(NAV)는 18.86% (2.24달러) 상승했는데, 이는 주로 전환우선주에서 보통주로 전환된 데이터 센터 REIT에 대한 투자 및 Nasdaq에서 FRMI 티커로 상장된 덕분입니다. 이 포지션은 비중이 크지 않았지만 IPO 이후 NAV에 비해 과도한 영향을 미쳤습니다. 펀드는 명시된 투자 목표와 전략을 계속 따를 것입니다.
Highland Global Allocation Fund (NYSE: HGLB) a nommé Scott Johnson comme gérant de portefeuille à effet le 7 octobre 2025, rejoignant le gestionnaire actuel James Dondero.
Le 1er octobre 2025, la valeur nette d'inventaire (VNI) du fonds a augmenté de 18,86% (2,24 USD), principalement portée par un investissement dans un REIT de centres de données qui est passé d'actions privilégiées convertibles à des actions ordinaires et coté sur le Nasdaq sous le ticker FRMI. La position n'était pas lourde en valeur mais a eu un impact disproportionné sur la NAV après l'IPO. Le fonds continuera de suivre l'objectif de placement et les stratégies déclarés.
Highland Global Allocation Fund (NYSE: HGLB) hat Scott Johnson zum Portfoliomanager ernannt, wirksam ab dem 7. Oktober 2025, und schließt sich dem bisherigen Manager James Dondero an.
Zum 1. Oktober 2025 stieg der Nettowert des Fonds (NAV) um 18,86% (2,24 USD), hauptsächlich getragen von einer Investition in ein Data-Center-REIT, das von wandelbaren Vorzugsaktien in Stammaktien umgewandelt wurde und an der Nasdaq unter dem Ticker FRMI gelistet ist. Die Position war nicht groß gewichtet, hatte jedoch einen outsized Effekt auf den NAV nach dem IPO. Der Fonds wird weiterhin sein angegebenes Anlageziel und die Strategien verfolgen.
Highland Global Allocation Fund (NYSE: HGLB) عيّن سكوت جونسون كمدير محفظة نافذ اعتباراً من 7 أكتوبر 2025، لينضم إلى مديره الحالي جيمس دونديرو.
في 1 أكتوبر 2025 ارتفع صافي قيمة أصول الصندوق بنسبة 18.86% (2.24 دولاراً)، مدفوعاً بشكل أساسي باستثمار في REIT لمراكز البيانات الذي انتقل من الأسهم الممتازة القابلة للتحويل إلى أسهم عادية ويدرَج في ناسداك تحت الرمز FRMI. لم يكن الموقف كبيراً من حيث الوزن ولكنه أثر بشكل كبير على NAV بعد الاكتتاب العام. سيستمر الصندوق في متابعة الهدف الاستثماري والاستراتيجيات المعلنة.
Highland Global Allocation Fund (NYSE: HGLB) 任命 Scott Johnson 为投资组合经理，自 2025 年 10 月 7 日起生效，加入现任经理 James Dondero。
2025 年 10 月 1 日，基金的净资产价值（NAV）上涨 18.86%（2.24 美元），主要由一个数据中心 REIT 的投资推动，该 REIT 由可转换优先股转为普通股并在 Nasdaq 以代码 FRMI 上市。该头寸在权重上并不显著，但在 IPO 之后对 NAV 产生了不成比例的影响。基金将继续遵循其既定的投资目标和策略。
- NAV increased 18.86% on October 1, 2025
- Added Scott Johnson with 25+ years investment experience
- Investment converted to common and listed on Nasdaq as FRMI
- Single investment produced an outsized NAV move, indicating concentration-driven volatility
Insights
Experienced PM added and NAV jumped
Scott Johnson joins the portfolio team effective
The business mechanism is straightforward: a private convertible position converted to publicly traded common stock, creating realized mark-to-market gains that materially moved NAV despite the position not being outsized by weight. This gain reflects a successful liquidity event rather than a change in investment objective, and the Fund confirms no change to its Prospectus strategies.
Risks and dependencies include concentration sensitivity to single-event mark moves and the durability of the IPO price; the NAV bump may reverse if the newly listed equity's price falls. Monitor near-term trading of FRMI, any further disclosures on position size, and quarterly NAV reporting over the next
Mr. Johnson is managing director and portfolio manager at NexPoint. He has over 25 years of investment management experience with extensive experience in private equity, mergers and acquisitions, and long/short hedge funds. Mr. Johnson received a B.B.A. in Finance with honors from the University of
In addition to the portfolio manager changes, the Fund provided an update on a recent change in the Fund's net asset value ("NAV"). On October 1, 2025, the Fund's NAV increased by
This was not an outsized position in the Fund; however, the investment had an outsized impact on the Fund's NAV as a result of the initial success of the IPO.
The investment was facilitated by NexPoint's corporate credit and equities team, which is led by Mr. Johnson.
"We are pleased to add Scott as a portfolio manager to HGLB," said James Dondero, NexPoint founder and principal, and portfolio manager of the Fund. "Scott's portfolio management experience and ability to source and execute unique private market investment opportunities, like the FRMI investment, will be a valuable addition to the portfolio management team as we look to maximize value for HGLB investors."
The Fund will continue to be managed pursuant to the investment objective and strategies as described in the Fund's Prospectus without change.
About the Highland Global Allocation Fund
The Highland Global Allocation Fund (NYSE:HGLB) is a closed-end fund managed by NexPoint Asset Management, L.P. For more information visit nexpointassetmgmt.com/global-allocation-fund.
About NexPoint Asset Management, L.P.
NexPoint Asset Management, L.P. is an SEC-registered investment adviser. It is the adviser to a suite of registered funds, including open-end mutual funds, and closed-end funds. For more information visit nexpointassetmgmt.com.
Disclosures
Before investing in the Fund, you should carefully consider the Fund's investment objectives, risks, charges, and expenses. For a copy of a prospectus or summary prospectus, which contains this and other information, please visit our website at www.nexpointassetmgmt.com or call 1-800-357-9167. Please read the fund prospectus carefully before investing.
Shares of closed-end investment companies frequently trade at a discount to NAV. The price of the Fund's shares is determined by a number of factors, several of which are beyond the control of the Fund. Therefore, the Fund cannot predict whether its shares will trade at, below or above net asset value. Past performance does not guarantee future results.
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SOURCE Highland Global Allocation Fund
FAQ
What change did Highland Global Allocation Fund (HGLB) announce on October 7, 2025?
Why did HGLB's NAV rise 18.86% on October 1, 2025?
How material was the FRMI position to HGLB's portfolio on October 1, 2025?
What experience does new HGLB portfolio manager Scott Johnson bring?
Will HGLB change its investment objective after the NAV increase?
