Highland Global Allocation Fund (HGLB) holder reports 9.5% ownership stake

Rhea-AI Filing Summary

Highland Global Allocation Fund has an institutional holder, Raymond James & Associates, reporting a significant position in its common stock. In Amendment No. 3 to its beneficial ownership report, Raymond James & Associates states that it beneficially owns 2,225,124.67 shares of common stock, representing 9.5% of the class.

The firm reports no sole or shared voting power over these shares, but reports sole dispositive power over the full 2,225,124.67 shares and no shared dispositive power. The filing is signed on behalf of Raymond James & Associates by Sr Manager Operations Rachel Jacobson.

Key Figures

Beneficial ownership: 2,225,124.67 shares Percent of class: 9.5% Sole voting power: 0 +3 more

6 metrics

Beneficial ownership 2,225,124.67 shares Common stock beneficially owned by Raymond James & Associates

Percent of class 9.5% Percentage of Highland Global Allocation Fund common stock class

Sole voting power 0 Shares over which Raymond James & Associates has sole voting power

Shared voting power 0 Shares over which Raymond James & Associates has shared voting power

Sole dispositive power 2,225,124.67 shares Shares over which Raymond James & Associates has sole dispositive power

Shared dispositive power 0 Shares over which Raymond James & Associates has shared dispositive power

Key Terms

beneficially owned, Sole Dispositive Power, Percent of class, Common Stock

4 terms

beneficially owned financial

"Amount beneficially owned: 2225124.67"

Beneficially owned describes securities or assets where a person has the economic rights and control—such as the right to receive dividends and to direct voting—even if legal title is held in another name. Think of it like having the keys and using a car that’s registered to someone else: you get the benefits and make decisions. Investors care because beneficial ownership reveals who truly controls value and voting power, affecting corporate decisions and takeover dynamics.

Sole Dispositive Power financial

"Sole Dispositive Power 2,225,124.67"

Sole dispositive power is the exclusive legal authority to decide what happens to a security — for example, whether to sell, transfer, or retain shares — without needing anyone else’s permission. Investors care because it signals who truly controls the economic outcome of an investment: like holding the only key to a safe, the holder can realize gains or losses and may trigger regulatory reporting, insider rules, or influence over corporate ownership.

Percent of class financial

"Percent of class: 9.5 %"

Percent of class is the portion of a specific category of securities—such as a company’s common shares, preferred shares, or a bond series—that takes part in or approves a corporate action (vote, consent, tender, etc.). Investors watch this number because it reveals how much support or opposition exists within that particular shareholder group; like counting how many members of a club back a proposal, it can determine whether a plan passes or how influence is distributed.

Common Stock financial

"Title of class of securities: Common Stock"

Common stock represents ownership shares in a company, giving investors a stake in its success and a say in important decisions through voting rights. It is the most common type of stock traded on markets and can provide income through dividends, as well as potential for value growth. For investors, holding common stock means sharing in the company’s profits and risks.

AI-generated analysis. How Rhea-AI works. Not financial advice.

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Available on EDGAR 08/03/2026 - 01:44 PM Accepted by SEC EDGAR 08/03/2026 - 01:43 PM Learn about SEC filing dates

FAQ

What ownership stake in HGLB does Raymond James & Associates report?

Raymond James & Associates reports beneficial ownership of 2,225,124.67 shares of Highland Global Allocation Fund (HGLB) common stock, representing 9.5% of the class, according to Amendment No. 3 to its beneficial ownership disclosure.

Does Raymond James & Associates have voting power over its HGLB shares?

The firm reports no voting power over its Highland Global Allocation Fund (HGLB) shares, stating 0 sole voting power and 0 shared voting power, while retaining dispositive power over the position.

What dispositive power does Raymond James & Associates report for its HGLB holdings?

Raymond James & Associates reports sole dispositive power over 2,225,124.67 shares of Highland Global Allocation Fund (HGLB) common stock and no shared dispositive power, indicating control over decisions to sell or otherwise dispose of these shares.

What percentage of Highland Global Allocation Fund’s common stock is held by Raymond James & Associates?

Raymond James & Associates reports beneficial ownership of 9.5% of Highland Global Allocation Fund (HGLB) common stock, based on 2,225,124.67 shares disclosed in its Schedule 13G/A Amendment No. 3 filing.

Who signed the beneficial ownership report related to HGLB for Raymond James & Associates?

The report for Highland Global Allocation Fund (HGLB) was signed by Rachel Jacobson, identified as Sr Manager Operations at Raymond James & Associates, dated 08/03/2026.

SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549

SCHEDULE 13G

UNDER THE SECURITIES EXCHANGE ACT OF 1934

(Amendment No. 3)

HIGHLAND GLOBAL ALLOCATION FUND

(Name of Issuer)

Common Stock

(Title of Class of Securities)

43010T104

(CUSIP Number)

06/30/2026

(Date of Event Which Requires Filing of this Statement)

Check the appropriate box to designate the rule pursuant to which this Schedule is filed:

Rule 13d-1(b)

Rule 13d-1(c)

Rule 13d-1(d)

schemaVersion:

SCHEDULE 13G

CUSIP Number(s): 43010T104

1

Names of Reporting Persons

RAYMOND JAMES & ASSOCIATES

2

Check the appropriate box if a member of a Group (see instructions)

(a)
(b)

3

Sec Use Only

4

Citizenship or Place of Organization

UNITED STATES

Number of Shares Beneficially Owned by Each Reporting Person With:

5	Sole Voting Power 0.00
6	Shared Voting Power 0.00
7	Sole Dispositive Power 2,225,124.67
8	Shared Dispositive Power 0.00

9

Aggregate Amount Beneficially Owned by Each Reporting Person

2,225,124.67

10

Check box if the aggregate amount in row (9) excludes certain shares (See Instructions)

11

Percent of class represented by amount in row (9)

9.5 %

12

Type of Reporting Person (See Instructions)

IA

SCHEDULE 13G

Item 1.
(a)	Name of issuer: HIGHLAND GLOBAL ALLOCATION FUND
(b)	Address of issuer's principal executive offices: 300 CRESCENT COURT, SUITE 700, DALLAS, TEXAS, 75201
Item 2.
(a)	Name of person filing: RAYMOND JAMES & ASSOCIATES
(b)	Address or principal business office or, if none, residence: 880 CARILLON PARKWAY, ST PETERSBURG FL 33716
(c)	Citizenship: US
(d)	Title of class of securities: Common Stock
(e)	CUSIP No.: 43010T104
Item 3.	If this statement is filed pursuant to §§ 240.13d-1(b) or 240.13d-2(b) or (c), check whether the person filing is a:
(a)	Broker or dealer registered under section 15 of the Act (15 U.S.C. 78o);
(b)	Bank as defined in section 3(a)(6) of the Act (15 U.S.C. 78c);
(c)	Insurance company as defined in section 3(a)(19) of the Act (15 U.S.C. 78c);
(d)	Investment company registered under section 8 of the Investment Company Act of 1940 (15 U.S.C. 80a-8);
(e)	An investment adviser in accordance with § 240.13d-1(b)(1)(ii)(E);
(f)	An employee benefit plan or endowment fund in accordance with § 240.13d-1(b)(1)(ii)(F);
(g)	A parent holding company or control person in accordance with § 240.13d-1(b)(1)(ii)(G);
(h)	A savings associations as defined in Section 3(b) of the Federal Deposit Insurance Act (12 U.S.C. 1813);
(i)	A church plan that is excluded from the definition of an investment company under section 3(c)(14) of the Investment Company Act of 1940 (15 U.S.C. 80a-3);
(j)	A non-U.S. institution in accordance with § 240.13d-1(b)(1)(ii)(J). If filing as a non-U.S. institution in accordance with § 240.13d-1(b)(1)(ii)(J), please specify the type of institution:
(k)	Group, in accordance with Rule 240.13d-1(b)(1)(ii)(K).
Item 4.	Ownership
(a)	Amount beneficially owned: 2225124.67
(b)	Percent of class: 9.5 %
(c)	Number of shares as to which the person has:
	(i) Sole power to vote or to direct the vote: 0
	(ii) Shared power to vote or to direct the vote: 0
	(iii) Sole power to dispose or to direct the disposition of: 2225124.67
	(iv) Shared power to dispose or to direct the disposition of: 0
Item 5.	Ownership of 5 Percent or Less of a Class.
	Not Applicable
Item 6.	Ownership of more than 5 Percent on Behalf of Another Person.
	Not Applicable
Item 7.	Identification and Classification of the Subsidiary Which Acquired the Security Being Reported on by the Parent Holding Company or Control Person.
	Not Applicable
Item 8.	Identification and Classification of Members of the Group.
	Not Applicable
Item 9.	Notice of Dissolution of Group.
	Not Applicable

Item 10.

Certifications:

By signing below I certify that, to the best of my knowledge and belief, the securities referred to above were acquired and are held in the ordinary course of business and were not acquired and are not held for the purpose of or with the effect of changing or influencing the control of the issuer of the securities and were not acquired and are not held in connection with or as a participant in any transaction having that purpose or effect, other than activities solely in connection with a nomination under § 240.14a-11.

SIGNATURE

After reasonable inquiry and to the best of my knowledge and belief, I certify that the information set forth in this statement is true, complete and correct.

RAYMOND JAMES & ASSOCIATES

Signature:	Rachel Jacobson
Name/Title:	Sr Manager Operations
Date:	08/03/2026