HIGHLAND CAPITAL MANAGEMENT FUND ADVISORS, L.P.
13F Reported Value
ⓘ$1.5B
incl. option notional
Equity Holdings
ⓘ$1.4B
Option Notional
ⓘ$57.6M
$23.9M puts / $33.6M calls
Holdings
83
Latest Filing
2026-03-31
Filing Quarter
Q1 2026
Portfolio Overview
HIGHLAND CAPITAL MANAGEMENT FUND ADVISORS, L.P. disclosed 83 positions worth $1.5B in its Form 13F-HR for Q1 2026 — $1.4B in common stock plus $57.6M of put/call option positions (reported at underlying notional value, not premium at risk), led by $NREF (NexPoint Real Estate Finance, Inc.) at 8.9% of the equity portfolio, followed by $HOLX and $CWAN. During the quarter the fund opened 25 new positions and exited 26 — including a new stake in $OS. The portfolio is most concentrated in Technology (28.2% of disclosed assets). All figures are sourced directly from HIGHLAND CAPITAL MANAGEMENT FUND ADVISORS, L.P.’s Form 13F-HR filing with the SEC under CIK 1469877.
AI Fund Analysis
ConcentratingSector Allocation
AUM History
Top Equity Holdings by Value
Option Positions
13F rules report options at the value of the underlying shares (notional) — not the premium paid or capital at risk. Shown separately from the equity sleeve above.
Quarterly Activity — Q1 2026
Click any card to unlockTop Holdings
- $127.2M9,439,635 sh
- 62.3#750
Quality
$116.5M1,541,860 sh - 50.2#1,468
Quality
$94.7M4,004,230 sh - 45.1
Quality
$83.8M1,993,800 sh - 41.0
Quality
$80.6M3,358,217 sh - 73.8
Quality
$75.9M1,168,656 sh - 51.4
Quality
$71.6M895,961 sh - 71.1
Quality
$61.2M300,010 sh - 47.1
Quality
$55.2M310,130 sh - 48.7
Quality
$54.9M4,597,870 sh
| Company | Quality | Value | Shares |
|---|---|---|---|
 NexPoint Real Estate Finance, Inc.$NREF | — | $127.2M | 9,439,635 |
 HOLOGIC INC$HOLX | 62.3#750 | $116.5M | 1,541,860 |
 Clearwater Analytics Holdings, Inc.$CWAN | 50.2#1,468 | $94.7M | 4,004,230 |
 SunCar Technology Group Inc.$SDA | 45.1 | $83.8M | 1,993,800 |
 OneStream, Inc.$OS | 41.0 | $80.6M | 3,358,217 |
 AIR LEASE CORP$AL | 73.8 | $75.9M | 1,168,656 |
 CSG SYSTEMS INTERNATIONAL INC$CSGS | 51.4 | $71.6M | 895,961 |
 ELECTRONIC ARTS INC.$EA | 71.1 | $61.2M | 300,010 |
 MASIMO CORP$MASI | 47.1 | $55.2M | 310,130 |
 SEMrush Holdings, Inc.$SEMR | 48.7 | $54.9M | 4,597,870 |
Unlock AI quality scores for every holding
32-signal composite ranking on each of HIGHLAND CAPITAL MANAGEMENT FUND ADVISORS, L.P.'s 83 positions.
Showing top 10 of 83 holdings.
Sector Allocation
Technology
$403.6M
Healthcare
$339.5M
Real Estate
$230.3M
Industrials
$128.0M
Consumer Discretionary
$94.5M
Financials
$71.5M
Communication Services
$44.0M
Utilities
$42.4M
Full Holdings — HIGHLAND CAPITAL MANAGEMENT FUND ADVISORS, L.P. (Q1 2026)
All 83 disclosed positions from the latest Form 13F-HR, with quarter-over-quarter share changes and 13F Pro quality scores. Sourced from SEC EDGAR.
| # | Ticker | Company | Value | Weight | QoQ | Quality |
|---|---|---|---|---|---|---|
| 1 | $NREF | NexPoint Real Estate Finance, Inc. | $127.2M | 8.9% | +0% | — |
| 2 | $HOLX | HOLOGIC INC | $116.5M | 8.1% | +79% | 62.3 |
| 3 | $CWAN | Clearwater Analytics Holdings, Inc. | $94.7M | 6.6% | +168% | 50.2 |
| 4 | $SDA | SunCar Technology Group Inc. | $83.8M | 5.8% | +38% | 45.1 |
| 5 | $OS | OneStream, Inc. | $80.6M | 5.6% | NEW | 41 |
| 6 | $AL | AIR LEASE CORP | $75.9M | 5.3% | +53% | 73.8 |
| 7 | $CSGS | CSG SYSTEMS INTERNATIONAL INC | $71.6M | 5.0% | +113% | 51.4 |
| 8 | $EA | ELECTRONIC ARTS INC. | $61.2M | 4.3% | +35% | 71.1 |
| 9 | $MASI | MASIMO CORP | $55.2M | 3.9% | NEW | 47.1 |
| 10 | $SEMR | SEMrush Holdings, Inc. | $54.9M | 3.8% | +32% | 48.7 |
| 11 |  $TERN | Terns Pharmaceuticals, Inc. | $47.7M | 3.3% | NEW | — |
| 12 |  $ACLX | Arcellx, Inc. | $42.8M | 3.0% | NEW | 6.7 |
| 13 |  $GTLS | CHART INDUSTRIES INC | $38.3M | 2.7% | +10% | 60.6 |
| 14 |  $PRA | PROASSURANCE CORP | $35.0M | 2.4% | +7% | 42.6 |
| 15 |  $BHF | Brighthouse Financial, Inc. | $34.5M | 2.4% | +0% | 54.9 |
| 16 |  $DBRGCALL | DigitalBridge Group, Inc. | $33.6M | — | NEW | 52.9 |
| 17 |  $TXNM | TXNM ENERGY INC | $31.6M | 2.2% | +7% | 57.8 |
| 18 |  $FOLD | AMICUS THERAPEUTICS, INC. | $29.5M | 2.1% | NEW | 44.2 |
| 19 |  $NXDT | NEXPOINT DIVERSIFIED REAL ESTATE TRUST | $25.1M | 1.8% | +7% | 37.9 |
| 20 |  $SEM | SELECT MEDICAL HOLDINGS CORP | $24.1M | 1.7% | NEW | 60.1 |
| 21 |  $WBDPUT | Warner Bros. Discovery, Inc. | $23.9M | — | NEW | 42.1 |
| 22 | $WBD | Warner Bros. Discovery, Inc. | $23.9M | 1.7% | NEW | 42.1 |
| 23 |  $HFRO | HIGHLAND OPPORTUNITIES & INCOME FUND | $23.6M | 1.6% | +12% | — |
| 24 |  $NXRT | NexPoint Residential Trust, Inc. | $23.4M | 1.6% | +0% | 37 |
| 25 |  $CCO | Clear Channel Outdoor Holdings, Inc. | $22.1M | 1.5% | NEW | 47.1 |
| 26 |  $CTRA | Coterra Energy Inc. | $16.9M | 1.2% | NEW | 80.6 |
| 27 |  $TALK | Talkspace, Inc. | $15.4M | 1.1% | NEW | 43.5 |
| 28 |  $TSAT | Telesat Corp | $14.4M | 1.0% | +0% | — |
| 29 |  $WSR | Whitestone REIT | $14.1M | 1.0% | +0% | 57.9 |
| 30 |  $ET | Energy Transfer LP | $13.3M | 0.9% | -10% | 64.5 |
| 31 |  $TWO | TWO HARBORS INVESTMENT CORP. | $11.9M | 0.8% | NEW | — |
| 32 |  $CEPU | CENTRAL PUERTO S.A. | $8.9M | 0.6% | +0% | — |
| 33 |  $VRE | Veris Residential, Inc. | $8.2M | 0.6% | NEW | 60.1 |
| 34 |  $TALO | TALOS ENERGY INC. | $7.8M | 0.6% | -3% | 49.2 |
| 35 |  $FRMI | Fermi Inc. | $7.6M | 0.5% | +0% | — |
| 36 |  $RAL | Ralliant Corp | $6.5M | 0.5% | +396% | 36.3 |
| 37 |  $REYN | Reynolds Consumer Products Inc. | $6.1M | 0.4% | +16% | 52.8 |
| 38 |  $FBIN | Fortune Brands Innovations, Inc. | $6.0M | 0.4% | NEW | 48.7 |
| 39 |  $MIDD | MIDDLEBY Corp | $5.0M | 0.3% | NEW | 44.9 |
| 40 |  $BHR | Braemar Hotels & Resorts Inc. | $4.9M | 0.3% | +0% | 52.1 |
| 41 |  $SHC | Sotera Health Co | $4.5M | 0.3% | +0% | 59.7 |
| 42 |  $YETI | YETI Holdings, Inc. | $3.9M | 0.3% | +10% | 54.8 |
| 43 |  $SWX | Southwest Gas Holdings, Inc. | $3.4M | 0.2% | +17% | — |
| 44 |  $KYIV | Kyivstar Group Ltd. | $2.9M | 0.2% | NEW | — |
| 45 |  $LION | Lionsgate Studios Corp. | $2.9M | 0.2% | +20% | 46.5 |
| 46 |  $ARE | ALEXANDRIA REAL ESTATE EQUITIES, INC. | $2.6M | 0.2% | +0% | 45.1 |
| 47 |  $CRESY | CRESUD INC | $2.2M | 0.1% | NEW | — |
| 48 |  $RNA | Avidity Biosciences, Inc. | $2.0M | 0.1% | -84% | 22.3 |
| 49 |  $REZI | RESIDEO TECHNOLOGIES, INC. | $2.0M | 0.1% | +29% | 40.1 |
| 50 |  $GPC | GENUINE PARTS CO | $1.9M | 0.1% | +0% | 54.2 |
| 51 |  $BEPC | Brookfield Renewable Corp | $1.9M | 0.1% | +0% | — |
| 52 |  $BILL | BILL Holdings, Inc. | $1.8M | 0.1% | +44% | 56.8 |
| 53 |  $BRZE | Braze, Inc. | $1.8M | 0.1% | +0% | 44.8 |
| 54 |  $AMRZ | Amrize Ltd | $1.8M | 0.1% | +0% | — |
| 55 |  $LEG | LEGGETT & PLATT INC | $1.6M | 0.1% | +0% | 55.9 |
| 56 |  $OKTA | Okta, Inc. | $1.6M | 0.1% | +0% | 67.3 |
| 57 |  $GTLB | Gitlab Inc. | $1.5M | 0.1% | +0% | 54.1 |
| 58 |  $CSX | CSX CORP | $1.4M | 0.1% | +0% | 66.4 |
| 59 |  $PSN | PARSONS CORP | $1.4M | 0.1% | +0% | 60.3 |
| 60 |  $FISV | FISERV INC | $1.4M | 0.1% | +0% | 67.4 |
| 61 |  $RC | Ready Capital Corp | $1.4M | 0.1% | +0% | — |
| 62 |  $PRMB | Primo Brands Corp | $1.4M | 0.1% | +0% | 46.5 |
| 63 |  $STKL | SunOpta Inc. | $1.3M | 0.1% | NEW | 53.6 |
| 64 |  $MCW | Mister Car Wash, Inc. | $1.3M | 0.1% | NEW | 58.7 |
| 65 |  $BL | BLACKLINE, INC. | $1.3M | 0.1% | +0% | 49.9 |
| 66 |  $BDX | BECTON DICKINSON & CO | $1.2M | 0.1% | NEW | 50.7 |
| 67 |  $SRG | Seritage Growth Properties | $1.2M | 0.1% | +0% | 8.6 |
| 68 |  $MMLP | MARTIN MIDSTREAM PARTNERS L.P. | $1.1M | 0.1% | +0% | 31.9 |
| 69 |  $LWAC | LightWave Acquisition Corp. | $1.0M | 0.1% | NEW | — |
| 70 |  $WK | WORKIVA INC | $913,532 | 0.1% | +0% | 52.8 |
| 71 |  $TECK | TECK RESOURCES LTD | $871,988 | 0.1% | +0% | — |
| 72 |  $LOMA | Loma Negra Compania Industrial Argentina Sociedad Anonima | $709,760 | 0.1% | NEW | — |
| 73 |  $ADBE | ADOBE INC. | $703,960 | 0.1% | +0% | 80.4 |
| 74 |  $WDAY | Workday, Inc. | $674,545 | 0.1% | +0% | 74.2 |
| 75 |  $DHIL | DIAMOND HILL INVESTMENT GROUP INC | $659,143 | 0.1% | NEW | 58.2 |
| 76 | — | WHEELER REAL ESTATE INVT TR | $571,992 | 0.0% | +0% | — |
| 77 |  $CNR | Core Natural Resources, Inc. | $562,191 | 0.0% | +0% | 51.8 |
| 78 |  $KW | Kennedy-Wilson Holdings, Inc. | $551,625 | 0.0% | NEW | 29.7 |
| 79 |  $HRTX | HERON THERAPEUTICS, INC. /DE/ | $380,647 | 0.0% | +0% | 30.6 |
| 80 |  $INDI | indie Semiconductor, Inc. | $341,642 | 0.0% | +0% | 23.5 |
| 81 |  $SUPV | Grupo Supervielle S.A. | $229,149 | 0.0% | +0% | — |
| 82 |  $EHAB | Enhabit, Inc. | $194,287 | 0.0% | NEW | 54.8 |
| 83 | $LWAC | LightWave Acquisition Corp. | $12,005 | 0.0% | NEW | — |
New Positions (25)
$OS OneStream, Inc.$80.6M$MASI MASIMO CORP$55.2M$TERN Terns Pharmaceuticals, Inc.$47.7M$ACLX Arcellx, Inc.$42.8M$DBRGCALL DigitalBridge Group, Inc.$33.6M$FOLD AMICUS THERAPEUTICS, INC.$29.5M$SEM SELECT MEDICAL HOLDINGS CORP$24.1M$WBDPUT Warner Bros. Discovery, Inc.$23.9M$WBD Warner Bros. Discovery, Inc.$23.9M$CCO Clear Channel Outdoor Holdings, Inc.$22.1M$CTRA Coterra Energy Inc.$16.9M$TALK Talkspace, Inc.$15.4M$TWO TWO HARBORS INVESTMENT CORP.$11.9M$VRE Veris Residential, Inc.$8.2M$FBIN Fortune Brands Innovations, Inc.$6.0MExited Positions (26)
$CYBR CyberArk Software Ltd.
$HI Hillenbrand, Inc.
$ULCC Frontier Group Holdings, Inc.
$EXK ENDEAVOUR SILVER CORP
$CFLT Confluent, Inc.
$ALEX Alexander & Baldwin, Inc.
$VST Vistra Corp.
$HESM Hess Midstream LP
$JHX James Hardie Industries plcBrowse Top Institutional Investors
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