Nexpoint Asset Management, L.P.
In its 13F for Q1 2025 (holdings as of March 31, 2025, filed May 15, 2025), Nexpoint Asset Management, L.P. reported 78 stock positions worth $1.0 billion. Its top holding was Nexpoint Real Estate Finance (NREF) at 12.6% of the portfolio, followed by Intra-Cellular Therapies (ITCI, 8.7%) and Patterson Cos (PDCO, 8.6%). Compared with Q4 2024, it opened 20 new positions, sold out of 28, added to 20 and reduced 3. The biggest buy was a new position in Intra-Cellular Therapies (ITCI) and the biggest sale an exit from Smartsheet Class A (SMAR).
- Most Recent 13F
- Q2 2026
- Location
- Dallas, TX
- CIK
- 0001469877
- Portfolio Value
- $1.0B (Q1 2025)
- SEC Filing
- 0001172661-25-002325 ↗ filed May 15, 2025
Holdings Value
Holdings 78 stocks · $1.0B
| NREF Nexpoint Real Estate Finance | 12.55% | 8,587,364 | $131.3M | No change |
| ITCI Intra-Cellular Therapies Inc. | 8.72% | 691,280 | $91.2M | New |
| PDCO Patterson Cos Inc. | 8.55% | 2,862,800 | $89.4M | Add +755.3% |
| JWN Nordstrom Inc. | 8.20% | 3,508,133 | $85.8M | Add +809.8% |
| PYCR Paycor HCM Inc. | 6.81% | 3,176,062 | $71.3M | New |
| BECN Beacon Roofing Supply Inc. | 5.50% | 465,150 | $57.5M | Add +12820.8% |
| SWI Solarwinds Corp. | 5.14% | 2,914,876 | $53.7M | New |
| ESGR Enstar Group Ltd. | 3.95% | 124,414 | $41.4M | Add +15.8% |
| NXRT Nexpoint Residential | 3.47% | 919,347 | $36.3M | Reduce -41.2% |
| DESP Despegar.com Corp. | 3.32% | 1,845,650 | $34.7M | New |
| JNPR Juniper Networks Inc. | 3.18% | 919,200 | $33.3M | New |
| K Kellanova | 2.74% | 346,965 | $28.6M | Add +0.5% |
| HES Hess Corp. | 2.73% | 179,025 | $28.6M | No change |
| ATSG Air Transport Services Group | 2.65% | 1,236,975 | $27.8M | Add +18.7% |
| ET Energy Transfer LP | 2.13% | 1,197,512 | $22.3M | No change |
| X United States Steel Corp. | 2.00% | 495,550 | $20.9M | New |
| NXDT Nexpoint Diversified Real Es | 1.46% | 3,984,712 | $15.3M | Reduce -1.3% |
| PTVE Pactiv Evergreen Inc. | 1.43% | 833,016 | $15.0M | New |
| TALO Talos Energy Inc. | 1.33% | 1,427,931 | $13.9M | No change |
| TRGP Targa Resources Corp. | 1.26% | 65,800 | $13.2M | No change |
| WSR Whitestone REIT | 1.22% | 875,255 | $12.8M | No change |
| TSAT Telesat Corp. | 1.06% | 590,923 | $11.1M | No change |
| ENFN Enfusion Inc. Class A | 0.94% | 883,523 | $9.9M | New |
| VST Vistra Corp. | 0.75% | 66,500 | $7.8M | No change |
| CEPU Central Puerto-Sponsored ADR | 0.56% | 530,000 | $5.9M | No change |
| MELI MercadoLibre Inc. | 0.56% | 3,000 | $5.9M | No change |
| WES Western Midstream Partners L | 0.54% | 139,050 | $5.7M | No change |
| PAM Pampa Energia SA-Spon ADR | 0.50% | 67,700 | $5.2M | No change |
| ARE Alexandria Real Estate Equit | 0.50% | 56,000 | $5.2M | No change |
| HFRO Highland Opport & Income | 0.46% | 918,047 | $4.8M | No change |
| LGTY Logility Supply Chain Soluti | 0.44% | 326,260 | $4.7M | New |
| AMPS Altus Power Inc. | 0.44% | 923,850 | $4.6M | Add +2979.5% |
| RC Ready Capital Corp. | 0.42% | 873,021 | $4.4M | New |
| LW Lamb Weston Holdings Inc. | 0.26% | 51,216 | $2.7M | New |
| EPD Enterprise Products Partners | 0.26% | 78,631 | $2.7M | No change |
| AGS Playags Inc. | 0.25% | 214,701 | $2.6M | No change |
| REYN Reynolds Consumer Products I | 0.24% | 105,600 | $2.5M | New |
| TRS Trimas Corp. | 0.22% | 99,600 | $2.3M | New |
| COTY Coty Inc. Class A | 0.21% | 396,300 | $2.2M | New |
| PSN Parsons Corp. | 0.18% | 32,288 | $1.9M | New |
| CACI Caci International Inc. Class A | 0.18% | 5,133 | $1.9M | New |
| KBR KBR Inc. | 0.18% | 37,799 | $1.9M | New |
| CRESY Cresud S.A.-Spons ADR | 0.18% | 169,419 | $1.9M | No change |
| GPRE Green Plains Inc. | 0.18% | 382,563 | $1.9M | Add +805.5% |
| PSX Phillips 66 | 0.18% | 14,962 | $1.8M | New |
| ECVT Ecovyst Inc. | 0.17% | 287,687 | $1.8M | Add +977.3% |
| MMLP Martin Midstream Partners LP | 0.14% | 408,240 | $1.5M | Reduce -10.4% |
| SRG Seritage Growth Prop- A | 0.13% | 417,500 | $1.3M | No change |
| BEP Brookfield Renewable Partner | 0.11% | 53,106 | $1.2M | No change |
| HRTX Heron Therapeutics Inc. | 0.10% | 475,750 | $1.0M | No change |
| TECK Teck Resources Ltd.-CLS B | 0.09% | 24,415 | $889K | No change |
| TXNM TXNM Energy Inc. | 0.08% | 16,350 | $874K | Add +108.3% |
| DNB Dun & Bradstreet Holdings Inc. | 0.08% | 97,000 | $867K | Add +56.0% |
| AMTM Amentum Holdings Inc. | 0.08% | 43,900 | $799K | Add +144.0% |
| BLCO Bausch + Lomb Corp. | 0.07% | 50,158 | $727K | Add +147.6% |
| HGLB Highland Global Allocation | 0.07% | 86,246 | $718K | No change |
| LOMA Loma Negra Cia Ind-Spon ADR | 0.07% | 64,000 | $703K | No change |
| SAFE Safehold Inc. | 0.07% | 37,256 | $697K | No change |
| LION Lionsgate Studios Corp. | 0.06% | 88,370 | $660K | Add +11.8% |
| ETWO E2OPEN Parent Holdings Inc. | 0.06% | 323,920 | $648K | Add +149.5% |
| FYBR Frontier Communications Pare | 0.06% | 17,310 | $621K | No change |
| VITL Vital Farms Inc. | 0.05% | 18,300 | $558K | New |
| GT Goodyear Tire & Rubber Co. | 0.05% | 54,900 | $507K | Add +14.1% |
| SMPL The Simply Good Foods Co. | 0.04% | 13,200 | $455K | Add +12.3% |
| HZO Marinemax Inc. | 0.04% | 21,000 | $452K | Add +75.7% |
| CNR Core Natural Resources Inc. | 0.04% | 5,368 | $414K | New |
| CWEN Clearway Energy Inc. Class C | 0.04% | 12,100 | $366K | No change |
| MYRG MYR Group Inc./Delaware | 0.03% | 3,030 | $343K | No change |
| INDI Indie Semiconductor Inc. Class A | 0.03% | 165,959 | $338K | Add +43.7% |
| IRM Iron Mountain Inc. filed as IRON MTN INC DEL | 0.03% | 3,800 | $327K | No change |
| WSC Willscot Holdings Corp. | 0.03% | 11,750 | $327K | Add +12.4% |
| SUPV Grupo Supervielle SA-SP ADR | 0.03% | 24,300 | $317K | No change |
| MAA Mid-America Apartment Comm | 0.03% | 1,800 | $302K | No change |
| GOOS Canada Goose Holdings Inc. | 0.03% | 37,450 | $298K | No change |
| DLR Digital Realty Trust Inc. | 0.02% | 1,800 | $258K | No change |
| FRO Frontline PLC | 0.02% | 11,200 | $166K | No change |
| CLNE Clean Energy Fuels Corp. | 0.00% | 26,200 | $41K | No change |
| URG Ur-Energy Inc. | 0.00% | 15,000 | $10K | No change |
Options reported separately and not counted above: JNPR puts ($41.6M), X puts ($24.6M), ITCI puts ($20.6M).
Other holdings (2): bonds, preferreds, convertibles and warrants · $7.4M (not counted above)
| Security | Class | Shares / Principal | Value | Change |
|---|---|---|---|---|
| BRAEMAR HOTELS & RESORTS (BHR 5.5 PERP b) | 5.5 CUM CV PFD B | 565,750 | $7.4M | No change |
| CEROW Phoenix Biotech Acq -CW26 | *W EXP 02/13/202 | 108,741 | $2K | No change |
Total filed on the 13F, all lines: $1.1B.
Portfolio Sells Q4 2024 → Q1 2025
| SMAR Smartsheet Inc. Class A | Sold out | 0.00% | −6.59 |
| BARNES GROUP INC | Sold out | 0.00% | −6.39 |
| ROIC Retail Opportunity Investmen | Sold out | 0.00% | −5.93 |
| EDR Endeavor Group Hold Class A | Sold out | 0.00% | −4.56 |
| NXRT Nexpoint Residential | Reduce -41.2% | 3.47% | −4.19 |
| HCP Hashicorp Inc. Class A | Sold out | 0.00% | −3.35 |
| CDMO Avid Bioservices Inc. | Sold out | 0.00% | −2.69 |
| SUM Summit Materials Inc. Class A | Sold out | 0.00% | −2.34 |
| GEAR Revelyst Inc. | Sold out | 0.00% | −1.84 |
| CHX Championx Corp. | Sold out | 0.00% | −1.81 |
| BALY Bally's Corp. | Sold out | 0.00% | −1.70 |
| ARCH Arch Resources Inc. | Sold out | 0.00% | −1.65 |
| NXDT Nexpoint Diversified Real Es | Reduce -1.3% | 1.46% | −1.43 |
| ZUO Zuora Inc. Class A | Sold out | 0.00% | −1.41 |
| SCWX Secureworks Corp. Class A | Sold out | 0.00% | −0.52 |
| MNTX Manitex International Inc. | Sold out | 0.00% | −0.35 |
| ENLC Enlink Midstream LLC | Sold out | 0.00% | −0.26 |
| GATO Gatos Silver Inc. | Sold out | 0.00% | −0.20 |
| ONT Onterris Inc. | Sold out | 0.00% | −0.08 |
| IAS Integral Ad Science Holding | Sold out | 0.00% | −0.07 |
| NABL N-Able Inc. | Sold out | 0.00% | −0.06 |
| MMLP Martin Midstream Partners LP | Reduce -10.4% | 0.14% | −0.05 |
| GTLS Chart Industries Inc. | Sold out | 0.00% | −0.04 |
| J Jacobs Solutions Inc. | Sold out | 0.00% | −0.04 |
| MGRC McGrath Rentcorp | Sold out | 0.00% | −0.04 |
| GXO Gxo Logistics Inc. | Sold out | 0.00% | −0.04 |
| VFC VF Corp. | Sold out | 0.00% | −0.04 |
| FDX FedEx Corp. | Sold out | 0.00% | −0.03 |
| CSGP Costar Group Inc. | Sold out | 0.00% | −0.03 |
| MP MP Materials Corp. | Sold out | 0.00% | −0.02 |
| SOLO BRANDS INC | Sold out | 0.00% | −0.02 |
Portfolio Buys Q4 2024 → Q1 2025
| ITCI Intra-Cellular Therapies Inc. | New | 8.72% | +8.72 |
| PDCO Patterson Cos Inc. | Add +755.3% | 8.55% | +7.34 |
| JWN Nordstrom Inc. | Add +809.8% | 8.20% | +7.11 |
| PYCR Paycor HCM Inc. | New | 6.81% | +6.81 |
| BECN Beacon Roofing Supply Inc. | Add +12820.8% | 5.50% | +5.46 |
| SWI Solarwinds Corp. | New | 5.14% | +5.14 |
| DESP Despegar.com Corp. | New | 3.32% | +3.32 |
| JNPR Juniper Networks Inc. | New | 3.18% | +3.18 |
| X United States Steel Corp. | New | 2.00% | +2.00 |
| PTVE Pactiv Evergreen Inc. | New | 1.43% | +1.43 |
| ENFN Enfusion Inc. Class A | New | 0.94% | +0.94 |
| LGTY Logility Supply Chain Soluti | New | 0.44% | +0.44 |
| RC Ready Capital Corp. | New | 0.42% | +0.42 |
| AMPS Altus Power Inc. | Add +2979.5% | 0.44% | +0.42 |
| LW Lamb Weston Holdings Inc. | New | 0.26% | +0.26 |
| REYN Reynolds Consumer Products I | New | 0.24% | +0.24 |
| TRS Trimas Corp. | New | 0.22% | +0.22 |
| COTY Coty Inc. Class A | New | 0.21% | +0.21 |
| PSN Parsons Corp. | New | 0.18% | +0.18 |
| CACI Caci International Inc. Class A | New | 0.18% | +0.18 |
| KBR KBR Inc. | New | 0.18% | +0.18 |
| PSX Phillips 66 | New | 0.18% | +0.18 |
| ECVT Ecovyst Inc. | Add +977.3% | 0.17% | +0.15 |
| GPRE Green Plains Inc. | Add +805.5% | 0.18% | +0.13 |
| VITL Vital Farms Inc. | New | 0.05% | +0.05 |
| CNR Core Natural Resources Inc. | New | 0.04% | +0.04 |
| TXNM TXNM Energy Inc. | Add +108.3% | 0.08% | +0.04 |
| AMTM Amentum Holdings Inc. | Add +144.0% | 0.08% | +0.03 |
| BLCO Bausch + Lomb Corp. | Add +147.6% | 0.07% | +0.03 |
| ETWO E2OPEN Parent Holdings Inc. | Add +149.5% | 0.06% | +0.02 |
| HZO Marinemax Inc. | Add +75.7% | 0.04% | +0.00 |
| GT Goodyear Tire & Rubber Co. | Add +14.1% | 0.05% | −0.00 |
| LION Lionsgate Studios Corp. | Add +11.8% | 0.06% | −0.01 |
| DNB Dun & Bradstreet Holdings Inc. | Add +56.0% | 0.08% | −0.01 |
| WSC Willscot Holdings Corp. | Add +12.4% | 0.03% | −0.01 |
| SMPL The Simply Good Foods Co. | Add +12.3% | 0.04% | −0.01 |
| INDI Indie Semiconductor Inc. Class A | Add +43.7% | 0.03% | −0.02 |
| ATSG Air Transport Services Group | Add +18.7% | 2.65% | −0.04 |
| ESGR Enstar Group Ltd. | Add +15.8% | 3.95% | −0.11 |
| K Kellanova | Add +0.5% | 2.74% | −0.55 |
Options Activity Q4 2024 → Q1 2025
| JNPR Juniper Networks Inc. | put | New | 1,149,000 | $41.6M |
| X United States Steel Corp. | put | Add +74.1% | 583,000 | $24.6M |
| ITCI Intra-Cellular Therapies Inc. | put | New | 156,500 | $20.6M |
| X United States Steel Corp. | call | Sold out | 573,000 | $19.5Mbefore exit |
| FDX FedEx Corp. | put | Sold out | 1,000 | $281Kbefore exit |
Calls and puts are listed by the shares they cover; their value is not part of the stock holdings above.
Notes & Other Activity Q4 2024 → Q1 2025
| WHEELER REIT INC (WHLR 9 PERP B) | CV PFD SER B | Sold out | 82,301 | $251Kbefore exit |
Bonds, preferreds, convertibles and warrants; not part of the stock holdings or percentages above.
All Filings
| Quarter | Positions | 13F Reported Value | Top Holdings |
|---|---|---|---|
| Q2 2026 | 65 | $1.5B | NREF, NUVL, GBTG, TMHC, WTRG |
| Q1 2026 | 78 | $1.4B | NREF, HOLX, CWAN, SEE, OS |
| Q4 2025 | 81 | $1.4B | NREF, DAY, CYBR, RNAM, HOLX |
| Q3 2025 | 90 | $1.1B | NREF, WNS, AVDX, VRNA, FYBR |
| Q2 2025 | 82 | $1.0B | NREF, SKX, SWTX, JNPR, BPMC |
| Q1 2025 | 78 | $1.0B | NREF, ITCI, PDCO, JWN, PYCR |
| Q4 2024 | 86 | $851.4M | NREF, NXRT, SMAR, BARNES GROUP INC, ROIC |
| Q3 2024 | 85 | $824.2M | NREF, ENV, RCM, EDR, NVEI |
| Q2 2024 | 78 | $747.1M | NREF, WIRE, EVBG, SLCA, EDR |
| Q1 2024 | 77 | $642.8M | NREF, TCN, M D C HLDGS INC, NWLI, DOOR |