Nexpoint Asset Management, L.P.
In its 13F for Q2 2025 (holdings as of June 30, 2025, filed August 14, 2025), Nexpoint Asset Management, L.P. reported 82 stock positions worth $1.0 billion. Its top holding was Nexpoint Real Estate Finance (NREF) at 11.4% of the portfolio, followed by Skechers USA Class A (SKX, 7.4%) and Springworks Therapeutics (SWTX, 7.1%). Compared with Q1 2025, it opened 29 new positions, sold out of 25, added to 18 and reduced 2. The biggest buy was a new position in Skechers USA Class A (SKX) and the biggest sale an exit from Intra-Cellular Therapies (ITCI).
- Most Recent 13F
- Q2 2026
- Location
- Dallas, TX
- CIK
- 0001469877
- Portfolio Value
- $1.0B (Q2 2025)
- SEC Filing
- 0001172661-25-003463 ↗ filed Aug 14, 2025
Holdings Value
Holdings 82 stocks · $1.0B
| NREF Nexpoint Real Estate Finance | 11.37% | 8,587,364 | $118.4M | No change |
| SKX Skechers USA Inc. Class A | 7.36% | 1,215,521 | $76.7M | New |
| SWTX Springworks Therapeutics Inc. | 7.14% | 1,583,116 | $74.4M | New |
| JNPR Juniper Networks Inc. | 6.08% | 1,584,932 | $63.3M | Add +72.4% |
| BPMC Blueprint Medicines Corp. | 5.87% | 476,742 | $61.1M | New |
| WBA Walgreens Boots Alliance Inc. | 4.85% | 4,398,679 | $50.5M | New |
| AVDX Avidxchange Holdings Inc. | 4.78% | 5,084,553 | $49.8M | New |
| TXNM TXNM Energy Inc. | 4.19% | 775,705 | $43.7M | Add +4644.4% |
| HES Hess Corp. | 4.16% | 312,545 | $43.3M | Add +74.6% |
| RDUS Radius Recycling Inc. Class A | 3.78% | 1,324,802 | $39.3M | New |
| FYBR Frontier Communications Pare | 3.62% | 1,035,863 | $37.7M | Add +5884.2% |
| K Kellanova | 3.37% | 441,308 | $35.1M | Add +27.2% |
| NXRT Nexpoint Residential | 2.96% | 926,759 | $30.9M | Add +0.8% |
| STR Sitio Royalties Corp. Class A | 2.23% | 1,263,577 | $23.2M | New |
| DNB Dun & Bradstreet Holdings Inc. | 2.20% | 2,518,888 | $22.9M | Add +2496.8% |
| ET Energy Transfer LP | 2.18% | 1,250,962 | $22.7M | Add +4.5% |
| INFA Informatica Inc. Class A | 1.82% | 778,110 | $18.9M | New |
| NXDT Nexpoint Diversified Real Es | 1.77% | 4,412,120 | $18.5M | Add +10.7% |
| BASE Couchbase Inc. | 1.59% | 679,990 | $16.6M | New |
| ETWO E2OPEN Parent Holdings Inc. | 1.48% | 4,767,915 | $15.4M | Add +1371.9% |
| VST Vistra Corp. | 1.40% | 75,500 | $14.6M | Add +13.5% |
| TSAT Telesat Corp. | 1.25% | 534,306 | $13.1M | Reduce -9.6% |
| TALO Talos Energy Inc. | 1.16% | 1,427,931 | $12.1M | No change |
| TRGP Targa Resources Corp. | 1.10% | 65,800 | $11.5M | No change |
| WSR Whitestone REIT | 1.05% | 875,255 | $10.9M | No change |
| GHLD Guild Holdings Co. Class A | 0.81% | 424,820 | $8.4M | New |
| AZEK The Azek Co. Inc. | 0.79% | 150,500 | $8.2M | New |
| CEPU Central Puerto-Sponsored ADR | 0.59% | 530,000 | $6.2M | No change |
| WES Western Midstream Partners L | 0.52% | 139,050 | $5.4M | No change |
| VSXY Victoria's Secret & Co. | 0.47% | 265,541 | $4.9M | New |
| HFRO Highland Opport & Income | 0.46% | 918,047 | $4.8M | No change |
| PSX Phillips 66 | 0.42% | 36,475 | $4.4M | Add +143.8% |
| ARE Alexandria Real Estate Equit | 0.39% | 56,000 | $4.1M | No change |
| DKS Dick's Sporting Goods Inc. | 0.38% | 20,000 | $4.0M | New |
| YETI Yeti Holdings Inc. filed as YETI HLDGS INC | 0.38% | 125,000 | $3.9M | New |
| AGS Playags Inc. | 0.37% | 309,463 | $3.9M | Add +44.1% |
| RC Ready Capital Corp. | 0.37% | 873,021 | $3.8M | No change |
| IP International Paper Co. | 0.32% | 72,030 | $3.4M | New |
| SHC Sotera Health Co. | 0.32% | 300,631 | $3.3M | New |
| TRS Trimas Corp. | 0.27% | 99,600 | $2.8M | No change |
| LW Lamb Weston Holdings Inc. | 0.26% | 52,387 | $2.7M | Add +2.3% |
| ALE Allete Inc. | 0.24% | 38,987 | $2.5M | New |
| CACI Caci International Inc. Class A | 0.23% | 5,133 | $2.4M | No change |
| ECVT Ecovyst Inc. | 0.23% | 287,687 | $2.4M | No change |
| GTLS Chart Industries Inc. | 0.23% | 14,265 | $2.3M | New |
| PSN Parsons Corp. | 0.22% | 32,288 | $2.3M | No change |
| GPRE Green Plains Inc. | 0.22% | 382,563 | $2.3M | No change |
| COTY Coty Inc. Class A | 0.22% | 486,974 | $2.3M | Add +22.9% |
| REYN Reynolds Consumer Products I | 0.22% | 105,600 | $2.3M | No change |
| KBR KBR Inc. | 0.21% | 45,914 | $2.2M | Add +21.5% |
| CRESY Cresud S.A.-Spons ADR | 0.17% | 169,419 | $1.8M | No change |
| FTV Fortive Corp. | 0.13% | 25,775 | $1.3M | New |
| SRG Seritage Growth Prop- A | 0.12% | 417,500 | $1.3M | No change |
| MMLP Martin Midstream Partners LP | 0.12% | 408,240 | $1.2M | No change |
| WSC Willscot Holdings Corp. | 0.10% | 37,415 | $1.0M | Add +218.4% |
| TECK Teck Resources Ltd.-CLS B | 0.09% | 24,415 | $986K | No change |
| HRTX Heron Therapeutics Inc. | 0.09% | 475,750 | $985K | No change |
| CRL Charles River Laboratories | 0.08% | 5,615 | $852K | New |
| ADBE Adobe Inc. | 0.08% | 2,153 | $833K | New |
| AMTM Amentum Holdings Inc. | 0.08% | 35,263 | $833K | Reduce -19.7% |
| KVUE Kenvue Inc. | 0.08% | 39,410 | $825K | New |
| FCX Freeport-McMoran Inc. | 0.08% | 18,950 | $821K | New |
| SMPL The Simply Good Foods Co. | 0.08% | 25,778 | $814K | Add +95.3% |
| CVGW Calavo Growers Inc. | 0.08% | 30,586 | $813K | New |
| HGLB Highland Global Allocation | 0.07% | 86,246 | $751K | No change |
| LION Lionsgate Studios Corp. | 0.07% | 129,199 | $751K | New |
| LOMA Loma Negra Cia Ind-Spon ADR | 0.07% | 64,000 | $702K | No change |
| BLCO Bausch + Lomb Corp. | 0.06% | 50,158 | $653K | No change |
| INDI Indie Semiconductor Inc. Class A | 0.06% | 165,959 | $591K | No change |
| SAFE Safehold Inc. | 0.06% | 37,256 | $580K | No change |
| FANG Diamondback Energy Inc. | 0.05% | 4,000 | $550K | New |
| RAL Ralliant Corp. | 0.04% | 8,591 | $417K | New |
| IRM Iron Mountain Inc. filed as IRON MTN INC DEL | 0.04% | 3,800 | $390K | No change |
| CWEN Clearway Energy Inc. Class C | 0.04% | 12,100 | $387K | No change |
| CNR Core Natural Resources Inc. | 0.04% | 5,368 | $374K | No change |
| DLR Digital Realty Trust Inc. | 0.03% | 1,800 | $314K | No change |
| MAA Mid-America Apartment Comm | 0.03% | 1,800 | $266K | No change |
| SUPV Grupo Supervielle SA-SP ADR | 0.02% | 24,300 | $257K | No change |
| CLH Clean Harbors Inc. | 0.02% | 1,000 | $231K | New |
| DAR Darling Ingredients Inc. | 0.02% | 5,600 | $212K | New |
| CLNE Clean Energy Fuels Corp. | 0.00% | 26,200 | $51K | No change |
| URG Ur-Energy Inc. | 0.00% | 15,000 | $16K | No change |
Options reported separately and not counted above: JNPR puts ($45.9M).
Other holdings (3): bonds, preferreds, convertibles and warrants · $7.7M (not counted above)
| Security | Class | Shares / Principal | Value | Change |
|---|---|---|---|---|
| BRAEMAR HOTELS & RESORTS (BHR 5.5 PERP b) | 5.5 CUM CV PFD B | 556,919 | $7.3M | Reduce -1.6% |
| WHEELER REIT INC (WHLR 9 PERP B) | CV PFD SER B | 82,301 | $326K | New |
| CEROW Phoenix Biotech Acq -CW26 | *W EXP 02/13/202 | 108,741 | $3K | No change |
Total filed on the 13F, all lines: $1.0B.
Portfolio Sells Q1 2025 → Q2 2025
| ITCI Intra-Cellular Therapies Inc. | Sold out | 0.00% | −8.72 |
| PDCO Patterson Cos Inc. | Sold out | 0.00% | −8.55 |
| JWN Nordstrom Inc. | Sold out | 0.00% | −8.20 |
| PYCR Paycor HCM Inc. | Sold out | 0.00% | −6.81 |
| BECN Beacon Roofing Supply Inc. | Sold out | 0.00% | −5.50 |
| SWI Solarwinds Corp. | Sold out | 0.00% | −5.14 |
| ESGR Enstar Group Ltd. | Sold out | 0.00% | −3.95 |
| DESP Despegar.com Corp. | Sold out | 0.00% | −3.32 |
| ATSG Air Transport Services Group | Sold out | 0.00% | −2.65 |
| X United States Steel Corp. | Sold out | 0.00% | −2.00 |
| PTVE Pactiv Evergreen Inc. | Sold out | 0.00% | −1.43 |
| ENFN Enfusion Inc. Class A | Sold out | 0.00% | −0.94 |
| MELI MercadoLibre Inc. | Sold out | 0.00% | −0.56 |
| PAM Pampa Energia SA-Spon ADR | Sold out | 0.00% | −0.50 |
| LGTY Logility Supply Chain Soluti | Sold out | 0.00% | −0.44 |
| AMPS Altus Power Inc. | Sold out | 0.00% | −0.44 |
| EPD Enterprise Products Partners | Sold out | 0.00% | −0.26 |
| BEP Brookfield Renewable Partner | Sold out | 0.00% | −0.11 |
| LION Lionsgate Studios Corp. | Sold out | 0.00% | −0.06 |
| VITL Vital Farms Inc. | Sold out | 0.00% | −0.05 |
| GT Goodyear Tire & Rubber Co. | Sold out | 0.00% | −0.05 |
| HZO Marinemax Inc. | Sold out | 0.00% | −0.04 |
| MYRG MYR Group Inc./Delaware | Sold out | 0.00% | −0.03 |
| GOOS Canada Goose Holdings Inc. | Sold out | 0.00% | −0.03 |
| FRO Frontline PLC | Sold out | 0.00% | −0.02 |
| AMTM Amentum Holdings Inc. | Reduce -19.7% | 0.08% | +0.00 |
| TSAT Telesat Corp. | Reduce -9.6% | 1.25% | +0.19 |
Portfolio Buys Q1 2025 → Q2 2025
| SKX Skechers USA Inc. Class A | New | 7.36% | +7.36 |
| SWTX Springworks Therapeutics Inc. | New | 7.14% | +7.14 |
| BPMC Blueprint Medicines Corp. | New | 5.87% | +5.87 |
| WBA Walgreens Boots Alliance Inc. | New | 4.85% | +4.85 |
| AVDX Avidxchange Holdings Inc. | New | 4.78% | +4.78 |
| TXNM TXNM Energy Inc. | Add +4644.4% | 4.19% | +4.11 |
| RDUS Radius Recycling Inc. Class A | New | 3.78% | +3.78 |
| FYBR Frontier Communications Pare | Add +5884.2% | 3.62% | +3.56 |
| JNPR Juniper Networks Inc. | Add +72.4% | 6.08% | +2.90 |
| STR Sitio Royalties Corp. Class A | New | 2.23% | +2.23 |
| DNB Dun & Bradstreet Holdings Inc. | Add +2496.8% | 2.20% | +2.12 |
| INFA Informatica Inc. Class A | New | 1.82% | +1.82 |
| BASE Couchbase Inc. | New | 1.59% | +1.59 |
| HES Hess Corp. | Add +74.6% | 4.16% | +1.42 |
| ETWO E2OPEN Parent Holdings Inc. | Add +1371.9% | 1.48% | +1.42 |
| GHLD Guild Holdings Co. Class A | New | 0.81% | +0.81 |
| AZEK The Azek Co. Inc. | New | 0.79% | +0.79 |
| VST Vistra Corp. | Add +13.5% | 1.40% | +0.66 |
| K Kellanova | Add +27.2% | 3.37% | +0.63 |
| VSXY Victoria's Secret & Co. | New | 0.47% | +0.47 |
| DKS Dick's Sporting Goods Inc. | New | 0.38% | +0.38 |
| YETI Yeti Holdings Inc. | New | 0.38% | +0.38 |
| IP International Paper Co. | New | 0.32% | +0.32 |
| SHC Sotera Health Co. | New | 0.32% | +0.32 |
| NXDT Nexpoint Diversified Real Es | Add +10.7% | 1.77% | +0.32 |
| PSX Phillips 66 | Add +143.8% | 0.42% | +0.24 |
| ALE Allete Inc. | New | 0.24% | +0.24 |
| GTLS Chart Industries Inc. | New | 0.23% | +0.23 |
| FTV Fortive Corp. | New | 0.13% | +0.13 |
| AGS Playags Inc. | Add +44.1% | 0.37% | +0.12 |
| CRL Charles River Laboratories | New | 0.08% | +0.08 |
| ADBE Adobe Inc. | New | 0.08% | +0.08 |
| KVUE Kenvue Inc. | New | 0.08% | +0.08 |
| FCX Freeport-McMoran Inc. | New | 0.08% | +0.08 |
| CVGW Calavo Growers Inc. | New | 0.08% | +0.08 |
| LION Lionsgate Studios Corp. | New | 0.07% | +0.07 |
| WSC Willscot Holdings Corp. | Add +218.4% | 0.10% | +0.07 |
| FANG Diamondback Energy Inc. | New | 0.05% | +0.05 |
| ET Energy Transfer LP | Add +4.5% | 2.18% | +0.05 |
| RAL Ralliant Corp. | New | 0.04% | +0.04 |
| SMPL The Simply Good Foods Co. | Add +95.3% | 0.08% | +0.03 |
| KBR KBR Inc. | Add +21.5% | 0.21% | +0.03 |
| CLH Clean Harbors Inc. | New | 0.02% | +0.02 |
| DAR Darling Ingredients Inc. | New | 0.02% | +0.02 |
| COTY Coty Inc. Class A | Add +22.9% | 0.22% | +0.01 |
| LW Lamb Weston Holdings Inc. | Add +2.3% | 0.26% | −0.00 |
| NXRT Nexpoint Residential | Add +0.8% | 2.96% | −0.51 |
Options Activity Q1 2025 → Q2 2025
| X United States Steel Corp. | put | Sold out | 583,000 | $24.6Mbefore exit |
| ITCI Intra-Cellular Therapies Inc. | put | Sold out | 156,500 | $20.6Mbefore exit |
Calls and puts are listed by the shares they cover; their value is not part of the stock holdings above.
Notes & Other Activity Q1 2025 → Q2 2025
| BRAEMAR HOTELS & RESORTS (BHR 5.5 PERP b) | 5.5 CUM CV PFD B | Reduce -1.6% | 556,919 | $7.3M |
| WHEELER REIT INC (WHLR 9 PERP B) | CV PFD SER B | New | 82,301 | $326K |
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 |