Nexpoint Merger Arbitrage Fund Class Z (HMEZX) Fund Details & Analysis

Fund Information

Fund Category Event Driven

Fund Family NEXPOINT FUNDS I

Fund Style Large

ISIN US4301016428

CUSIP 430101642

Inception Date 2016-08-19

Domicile United States

Country USA

Fiscal Year End June

NAV Chart

Fund Metrics

Net Assets $1.21 Billion

Share Class Net Assets $1.13 Billion

Expense Ratio 1.90%

Expense Ratio Date 2025-10-31

Dividend Yield 0.05%

Morning Star Rating -

Morning Star Risk Rating -

Morning Star Category -

Performance

YTD Return 0.35%

1-Year Return 6.19%

3-Year Return 5.50%

5-Year Return 4.79%

NAV $20.03

Previous Close Price $20.05

Last Update 2025-12-31

Dividend Information

Dividend Yield 0.05%

Dividend (ttm) 0.17

Dividend Growth -58.12%

Payout Frequency Annual

Ex-Dividend Date n/a

Ratings

Morning Star Rating -

Morning Star Risk Rating -

Morning Star Category -

Beta (5Y) 1.23

About NexPoint Merger Arbitrage Fund Class Z

The fund normally invests at least 80% of the value of its total assets (net assets plus the amount of any borrowings for investment purposes) in securities of companies that are involved in publicly-announced mergers (including mergers through takeovers and tender offers, so long as tender offers are being used to effect a merger) ("Merger Transactions") or companies that the Adviser believes may be involved in Merger Transactions. It engages in risk arbitrage strategies, particularly merger arbitrage strategies, in order to achieve its investment objective. The fund is non-diversified.

Detailed Metrics

Market Cap Distribution

AverageMarketCap 4047.86%

Giant 0.00%

Large 3.46%

Medium 33.35%

Micro 30.76%

Small 39.96%

Value & Growth Metrics

Book-Value Growth % -2.12%

Cash-Flow Growth % 10.81%

Dividend Yield % 0.87%

Historical Earnings % -0.93%

Long-Term Earnings % 11.03%

Asset Allocation

Type	Net %	Long %	Short %	Category Average	benchmark
Bond	10.54%	16.28%	5.74%	12.12%	77.92%
Cash	0.00%	0.00%	0.00%	25.09%	0.00%
Non US Stock	33.44%	41.75%	8.31%	13.66%	8.20%
Not Classified	0.02%	0.02%	0.00%	0.99%	0.00%
Other	0.00%	0.00%	0.00%	2.13%	2.01%
US Stock	56.00%	71.99%	15.99%	70.10%	11.87%

Top Holdings

Name	Weight	Owned	Change
ENCORE WIRE CORP COMMON STOCK	7.79%	-	-
EVERBRIDGE INC COMMON STOCK	6.33%	-	-
US SILICA HOLDINGS INC COMMON STOCK	4.14%	-	-
ENDEAVOR GROUP HOLD-CLASS A COMMON STOCK	4.45%	-	-
NATIONAL WESTERN LIFE GROU-A COMMON STOCK	3.97%	-	-
MICHAEL KORS USA INC 144A 4.250000% 11/01/2024	3.94%	-	-
ATLANTICA SUSTAINABLE INFRASTRUCTURE PLC 144A 4.125000% 06/15/2028	3.20%	-	-
HESS CORP COMMON STOCK	3.00%	-	-
HIBBETT INC COMMON STOCK	2.89%	-	-
NUVEI CORP-SUBORDINATE VTG COMMON STOCK	2.87%	-	-
DREYFUS TREASURY PRIME CASH MANAGEMENT/ CLASS A	18.49%	-	-
SMARTSHEET INC-CLASS A COMMON STOCK	5.87%	-	-
BARNES GROUP INC COMMON STOCK	5.61%	-	-
RETAIL OPPORTUNITY INVESTMEN REIT	5.07%	-	-
HARGREAVES LANSDOWN PLC COMMON STOCK	4.39%	-	-
DS SMITH PLC COMMON STOCK	3.67%	-	-
ENSTAR GROUP LTD COMMON STOCK	3.42%	-	-
BRITVIC PLC COMMON STOCK	3.37%	-	-
WNS HOLDINGS LTD COMMON STOCK	7.92%	-	-
AVIDXCHANGE HOLDINGS INC COMMON STOCK	7.75%	-	-
INTERRENT REAL ESTATE INVEST REIT	5.27%	-	-
CYBERARK SOFTWARE LTD/ISRAEL COMMON STOCK	5.15%	-	-
VERONA PHARMA PLC - ADR DEPOSITARY RECEIPT	4.96%	-	-
AIR LEASE CORP COMMON STOCK	3.96%	-	-
FRONTIER COMMUNICATIONS PARE COMMON STOCK	3.92%	-	-
DELIVEROO PLC COMMON STOCK	3.33%	-	-
TXNM ENERGY INC COMMON STOCK	3.32%	-	-
SPECTRIS PLC COMMON STOCK	3.03%	-	-

See the full breakdown of HMEZX fund's asset allocation and top holdings .

Sector Weights

Category	Subcategory	Amount %	Category Avg	Stocks %	Benchmark
Bond Sector	Cash and Equivalents	4.67%	63.56%	0.00%	0.00%
Bond Sector	Corporate	4.67%	32.85%	95.49%	18.10%
Bond Sector	Derivative	4.67%	0.65%	0.00%	0.00%
Bond Sector	Government	4.67%	2.27%	0.00%	51.18%
Bond Sector	Municipal	4.67%	0.32%	0.00%	0.03%
Bond Sector	Securitized	4.67%	0.35%	4.51%	30.69%
Cyclical	Basic Materials	0.00%	4.24%	0.00%	4.84%
Cyclical	Consumer Cyclical	11.06%	4.09%	0.00%	9.89%
Cyclical	Financial Services	13.25%	17.60%	0.00%	19.70%
Cyclical	Real Estate	5.88%	2.37%	0.00%	8.19%
Defensive	Consumer Defensive	3.89%	7.74%	0.00%	5.41%
Defensive	Healthcare	9.25%	14.55%	0.00%	9.88%
Defensive	Utilities	4.67%	2.49%	0.00%	2.98%
Sensitive	Communication Services	9.03%	13.68%	0.00%	5.29%
Sensitive	Energy	2.07%	1.33%	0.00%	3.93%
Sensitive	Industrials	8.08%	14.29%	0.00%	12.16%
Sensitive	Technology	32.81%	17.61%	0.00%	17.74%

World Regions

Region	Subregion	Category Average	Stocks Percent	Benchmark
Americas	Latin America	0.33%	-	0.93%
Americas	North America	86.99%	70.63%	62.76%
Greater Asia	Asia Developed	0.28%	-	4.31%
Greater Asia	Asia Emerging	0.12%	-	5.02%
Greater Asia	Australasia	0.06%	-	1.92%
Greater Asia	Japan	0.32%	-	6.75%
Greater Europe	Africa/Middle East	0.01%	-	1.33%
Greater Europe	Europe Developed	5.09%	8.10%	12.97%
Greater Europe	Europe Emerging	-	-	0.28%
Greater Europe	United Kingdom	6.82%	21.27%	3.74%

Dividend History

Date	Amount	Unadjusted Amount	Currency	Declaration Date	Record Date	Payment Date	Period
2024-12-19	$0.250	$0.250	USD	-	-	-	-
2024-09-23	$0.253	$0.253	USD	-	2024-09-20	2024-09-24	Quarterly
2024-06-20	$0.250	$0.250	USD	-	2024-06-19	2024-06-21	Quarterly
2024-03-21	$0.252	$0.252	USD	-	2024-03-20	2024-03-22	Quarterly
2023-12-21	$0.251	$0.251	USD	-	2023-12-20	2023-12-22	Quarterly
2023-09-22	$0.250	$0.250	USD	-	2023-09-21	2023-09-25	Quarterly
2023-06-22	$0.246	$0.246	USD	-	2023-06-21	2023-06-23	Quarterly
2023-03-23	$0.247	$0.247	USD	-	2023-03-22	2023-03-24	Quarterly
2022-12-21	$0.253	$0.253	USD	-	2022-12-20	2022-12-22	Quarterly
2022-09-21	$0.253	$0.253	USD	2022-09-21	2022-09-20	2022-09-22	Quarterly
2022-06-22	$0.252	$0.252	USD	2022-06-22	2022-06-21	2022-06-23	Annual
2022-03-23	$0.255	$0.255	USD	2022-03-23	2022-03-22	2022-03-24	Annual
2021-09-17	$0.262	$0.262	USD	2021-09-17	2021-09-16	2021-09-20	Annual
2018-12-20	$2.753	$2.753	USD	2018-12-20	2018-12-19	2018-12-21	Other
2017-12-21	$0.645	$0.645	USD	2017-12-21	2017-12-20	2017-12-21	Annual
2017-07-25	$0.423	$0.423	USD	2017-07-25	2017-07-24	2017-07-25	Other
2016-12-21	$0.003	$0.003	USD	2016-12-21	2016-12-20	2016-12-21	Annual

NexPoint Merger Arbitrage Fund Class Z NMFQS:HMEZX