HFRO

Highland Opportunities and Income Fund (HFRO) is a diversified, closed-end management investment company that seeks to provide total return through current income and capital appreciation. The Fund invests primarily in a portfolio of leveraged loans, high-yield corporate bonds, and other credit instruments across various sectors and industries. Highland Opportunities and Income Fund is managed by NexPoint Advisors, L.P., which serves as the investment adviser and makes day-to-day investment decisions for the Fund's assets. The Fund employs a flexible investment strategy that allows it to allocate capital opportunistically across the credit spectrum, with particular focus on senior secured loans, second-lien loans, unsecured debt, and equity securities of distressed companies. As a closed-end fund, HFRO issues a fixed number of shares that trade on the New York Stock Exchange, with market prices determined by investor demand rather than net asset value. The Fund utilizes leverage to enhance returns, typically through borrowings and the issuance of preferred shares. Highland Opportunities and Income Fund aims to generate attractive risk-adjusted returns by identifying value in inefficiently priced credit markets while maintaining an emphasis on downside protection and capital preservation. The Fund provides monthly distributions to shareholders and operates under the regulatory framework of the Investment Company Act of 1940.