NexPoint Strategic Opportunities Fund (NHF)

NHF Real Estate Holdings

View the real estate holdings for NexPoint Strategic Opportunities Fund (NHF).

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Fund Overview

NexPoint Strategic Opportunities Fund (NYSE:NHF) is a closed-end fund managed by NexPoint Advisors, L.P. that seeks to provide both current income and capital appreciation. The fund invests primarily in below-investment-grade debt, equity securities, and real estate, and has the ability to hedge risk. The fund’s manager attempts to deliver consistent returns in excess of the Dow Jones Credit Suisse Hedge Fund and the HFRX Global Hedge Fund indices in a transparent, registered fund format consistent with monthly dividends.

Ticker

NHF

NAV

$22.46

Inception

6/29/06

Update on NexPoint Strategic Opportunities Fund NAV Change | August 19, 2021

The NexPoint Strategic Opportunities Fund (“NHF”) holds various CLO equity positions in its portfolio. There was a recent monetization event in underlying securities of certain CLO equity holdings that contributed to performance. This resulted in a NAV increase of approximately $33.7 million, which was reflected in the NAV reported on August 19, 2021. 

Update on Claymore Holdings LLC v. Credit Suisse AG Case | July 23, 2021

The NexPoint Strategic Opportunities Fund (NYSE:NHF)(“NHF”), a closed-end investment company managed by NexPoint Advisors, L.P. (the “Adviser”), announced an update in the case against Credit Suisse, AG, Cayman Islands Branch, and Credit Suisse Securities (USA), LLC (“Credit Suisse”).

On June 28, 2021, the 134th Judicial District Court (the “Court”) issued a judgment against Credit Suisse, awarding $121 million to Claymore Holdings LLC (“Claymore”), the entity formed to pursue the collective claims on behalf of NHF and the Highland Income Fund (NYSE:HFRO) (“HFRO”) (together the “Funds”).

The Court entered the judgment on remand—a result of the Texas Supreme Court’s April 2020 ruling, which upheld the prior findings that Credit Suisse committed fraud but remanded the case to the trial court to enter a new damages award.

On July 23, 2021, Credit Suisse filed a notice of appeal of the June 28 judgment. The matter now will be reviewed by the Dallas Court of Appeals, which ruled unanimously in favor of Claymore in the last round of appeals.

The total aggregate award, which, as of June 28, stood at $121 million, consists of damages and prejudgment interest. The award will continue to accrue interest until the appeals process is exhausted. Any final judgment amount would be reduced by attorney fees and other litigation-related expenses. The net proceeds would then be allocated to the Funds based on respective damages (approximately 82% to HFRO and 18% to NHF). As legal proceedings are ongoing and all recoveries remain contingent, no award amount has been recorded in the Funds’ net asset values at this time.

Background on the Case

The case was originally filed in 2013. Following a bench trial and jury trial, the Court issued its original judgment in favor of Claymore in 2015, which was confirmed by an appellate court in 2018. An appeal of that ruling sent the case to the Texas Supreme Court, which heard the case on January 8, 2020.

On April 24, 2020, the Texas Supreme Court issued an order that affirmed in part and reversed in part the 2018 ruling from the court of appeals. In the April 2020 order, the court upheld the $40 million fraud verdict that resulted from the jury trial; however, it did not uphold the contract damages and equitable relief awarded to Claymore by the trial court following the bench trial.

In its opinion, the Texas Supreme Court noted procedural issues related to the calculation of damages among the reasons for reversing part of the appellate court ruling. It remanded the case to the trial court to determine the appropriate damages calculations and enter a new damages award, resulting in the June 28 judgment.

The case is Claymore Holdings LLC v. Credit Suisse AG, Cayman Islands Branch et al., case number DC-13-07858, in the 134th District Court in Dallas County, Texas.

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Portfolio Manager

James Dondero | Founder, NexPoint
James Dondero is the founder of NexPoint. In addition to overseeing the group’s business and investment activities, Mr. Dondero serves as the portfolio manager of the NexPoint Strategic Opportunities Fund (NYSE:NHF). He is also an officer and director at NexPoint’s publicly traded REITs…

Contact Information

Shareholder Services
NexPoint Strategic Opportunities Fund
(866) 351-4440

Sales Consultants
NexPoint Sales Desk (Main)
(833) 697-7253

2020 Commentary

View an update on the NexPoint Strategic Opportunities Fund, the current portfolio, and an overview of 2020.

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NHF Recent Press Releases

September 1, 2021 in NHF, PRESS RELEASE

NexPoint Strategic Opportunities Fund Declares Regular Monthly Distribution

DALLAS – September 1, 2021 – NexPoint Strategic Opportunities Fund (NYSE: NHF) (“NHF” or the “Company”) today announced its regular monthly distribution on its common stock of $0.05 per share. The distribution…
Read More
August 5, 2021 in NEWS, NHF

NexPoint Strategic Opportunities Fund Extends Offer to Purchase Up to All Shares of United Development Funding IV (UDFI)

August 05, 2021 18:27 ET | Source: NexPoint Strategic Opportunities Fund DALLAS, Aug. 05, 2021 (GLOBE NEWSWIRE) -- NexPoint Strategic Opportunities Fund (NYSE:NHF) (“NHF”) today announced the extension of the offering period…
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August 2, 2021 in NHF, PRESS RELEASE

NexPoint Strategic Opportunities Fund Declares Regular Monthly Distribution

DALLAS, Aug. 02, 2021 (GLOBE NEWSWIRE) -- NexPoint Strategic Opportunities Fund (NYSE: NHF) (“NHF” or the “Company”) today announced its regular monthly distribution on its common stock of $0.05 per share. The…
Read More
July 9, 2021 in NHF, PRESS RELEASE

NexPoint Strategic Opportunities Fund Extends Offer to Purchase Up to All Shares of United Development Funding IV (UDFI)

July 09, 2021 18:54 ET | Source: NexPoint Strategic Opportunities Fund DALLAS, July 09, 2021 (GLOBE NEWSWIRE) -- NexPoint Strategic Opportunities Fund (NYSE:NHF) (“NHF”) today announced the extension of the offering period…
Read More
July 1, 2021 in NHF, PRESS RELEASE

NexPoint Strategic Opportunities Fund Declares Regular Monthly Distribution

DALLAS –July 1, 2021 – NexPoint Strategic Opportunities Fund (NYSE: NHF) (“NHF” or the “Company”) today announced its regular monthly distribution on its common stock of $0.05 per share. The distribution will…
Read More
June 28, 2021 in NHF, PRESS RELEASE

Trial Court Issues Judgment Against Credit Suisse in Case Related to the NexPoint Strategic Opportunities Fund

Court Enters Judgment on Remand, Awards $121 Million to Claymore Holdings DALLAS – June 28, 2021 – The NexPoint Strategic Opportunities Fund (NYSE:NHF) (“NHF”), a closed-end investment company managed by…
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June 11, 2021 in NHF, PRESS RELEASE

NexPoint Strategic Opportunities Fund Extends Offer to Purchase Up to All Shares of United Development Funding IV (UDFI)

DALLAS, June 11, 2021 — NexPoint Strategic Opportunities Fund (NYSE:NHF) (“NHF”) today announced the extension of the offering period for its previously announced offer to purchase any and all Shares…
Read More
June 1, 2021 in NHF, PRESS RELEASE

NexPoint Strategic Opportunities Fund Declares Regular Monthly Distribution

DALLAS – June 1, 2021 – NexPoint Strategic Opportunities Fund (NYSE: NHF) (“NHF” or the “Company”) today announced its regular monthly distribution on its common stock of $0.05 per share. The distribution…
Read More
May 14, 2021 in NHF, PRESS RELEASE

NexPoint Strategic Opportunities Fund Extends Offer to Purchase Up to All Shares of United Development Funding IV (UDFI)

DALLAS, May 14, 2021  -- NexPoint Strategic Opportunities Fund (NYSE:NHF) (“NHF”) today announced the extension of the offering period for its previously announced offer to purchase any and all Shares…
Read More
May 3, 2021 in NHF, PRESS RELEASE

NexPoint Strategic Opportunities Fund Declares Regular Monthly Distribution

DALLAS, May 03, 2021  -- NexPoint Strategic Opportunities Fund (NYSE: NHF) (“NHF” or the “Company”) today announced its regular monthly distribution on its common stock of $0.05 per share. The distribution…
Read More
April 13, 2021 in NHF, PRESS RELEASE

NexPoint Strategic Opportunities Fund Extends Offer to Purchase Up to All Shares of United Development Funding IV (UDFI)

DALLAS, April 13, 2021 -- NexPoint Strategic Opportunities Fund (NYSE:NHF) (“NHF”) today announced the extension of the offering period for its previously announced offer to purchase any and all Shares…
Read More
April 1, 2021 in NHF, PRESS RELEASE

NexPoint Strategic Opportunities Fund Declares Regular Monthly Distribution

DALLAS, April 01, 2021 -- NexPoint Strategic Opportunities Fund (NYSE: NHF) (“NHF” or the “Company”) today announced its regular monthly distribution on its common stock of $0.05 per share. The distribution…
Read More

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