Insider filing report for Changes in Beneficial Ownership
- Schedule 13G & 13D forms are used to report a party's ownership of stock which exceeds 5% of a company's total stock issue.
- Schedule 13G is a shorter version of Schedule 13D with fewer reporting requirements.
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SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549 |
SCHEDULE 13D
Under the Securities Exchange Act of 1934
(Amendment No. 6)*
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NEXPOINT REAL ESTATE STRATEGIES FUND (Name of Issuer) |
Class Z Shares of Beneficial Interest (Title of Class of Securities) |
65342M309 (CUSIP Number) |
Stephanie Vitiello, CCO NexPoint Advisors, L.P., 300 Crescent Court, Suite 700 Dallas, TX, 75201 214-453-6500 (Name, Address and Telephone Number of Person Authorized to Receive Notices and Communications) |
9/30/2025 (Date of Event Which Requires Filing of This Statement) |
If the filing person has previously filed a statement on Schedule 13G to report the acquisition that is the subject of this Schedule 13D, and is filing this schedule because of §§ 240.13d-1(e), 240.13d-1(f) or 240.13d-1(g), check the following box.
The information required on the remainder of this cover page shall not be deemed to be “filed” for the purpose of Section 18 of the
Securities Exchange Act of 1934 (“Act”) or otherwise subject to the liabilities of that section of the Act but shall be subject to all other
provisions of the Act (however, see the Notes).
SCHEDULE 13D
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| CUSIP No. | 65342M309 |
| 1 |
Name of reporting person
NexPoint Advisors, L.P. | ||||||||
| 2 | Check the appropriate box if a member of a Group (See Instructions)
(a)
 (b)
| ||||||||
| 3 | SEC use only | ||||||||
| 4 |
Source of funds (See Instructions)
AF | ||||||||
| 5 |
Check if disclosure of legal proceedings is required pursuant to Items 2(d) or 2(e)
| ||||||||
| 6 | Citizenship or place of organization
DELAWARE
| ||||||||
| Number of Shares Beneficially Owned by Each Reporting Person With: |
| ||||||||
| 11 | Aggregate amount beneficially owned by each reporting person
19,581.74 | ||||||||
| 12 | Check if the aggregate amount in Row (11) excludes certain shares (See Instructions)
| ||||||||
| 13 | Percent of class represented by amount in Row (11)
1.4 % | ||||||||
| 14 | Type of Reporting Person (See Instructions)
IA |
SCHEDULE 13D
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| CUSIP No. | 65342M309 |
| 1 |
Name of reporting person
DONDERO JAMES D | ||||||||
| 2 | Check the appropriate box if a member of a Group (See Instructions)
(a)
(b)
| ||||||||
| 3 | SEC use only | ||||||||
| 4 |
Source of funds (See Instructions)
AF | ||||||||
| 5 |
Check if disclosure of legal proceedings is required pursuant to Items 2(d) or 2(e)
| ||||||||
| 6 | Citizenship or place of organization
UNITED STATES
| ||||||||
| Number of Shares Beneficially Owned by Each Reporting Person With: |
| ||||||||
| 11 | Aggregate amount beneficially owned by each reporting person
93,631.59 | ||||||||
| 12 | Check if the aggregate amount in Row (11) excludes certain shares (See Instructions)
| ||||||||
| 13 | Percent of class represented by amount in Row (11)
6.9 % | ||||||||
| 14 | Type of Reporting Person (See Instructions)
HC, IN |
SCHEDULE 13D
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| CUSIP No. | 65342M309 |
| 1 |
Name of reporting person
DONDERO NANCY MARIE | ||||||||
| 2 | Check the appropriate box if a member of a Group (See Instructions)
(a)
(b)
| ||||||||
| 3 | SEC use only | ||||||||
| 4 |
Source of funds (See Instructions)
AF | ||||||||
| 5 |
Check if disclosure of legal proceedings is required pursuant to Items 2(d) or 2(e)
| ||||||||
| 6 | Citizenship or place of organization
UNITED STATES
| ||||||||
| Number of Shares Beneficially Owned by Each Reporting Person With: |
| ||||||||
| 11 | Aggregate amount beneficially owned by each reporting person
15,727.22 | ||||||||
| 12 | Check if the aggregate amount in Row (11) excludes certain shares (See Instructions)
| ||||||||
| 13 | Percent of class represented by amount in Row (11)
1.2 % | ||||||||
| 14 | Type of Reporting Person (See Instructions)
IN |
SCHEDULE 13D
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| CUSIP No. | 65342M309 |
| 1 |
Name of reporting person
Governance RE, Ltd. | ||||||||
| 2 | Check the appropriate box if a member of a Group (See Instructions)
(a)
(b)
| ||||||||
| 3 | SEC use only | ||||||||
| 4 |
Source of funds (See Instructions)
AF | ||||||||
| 5 |
Check if disclosure of legal proceedings is required pursuant to Items 2(d) or 2(e)
| ||||||||
| 6 | Citizenship or place of organization
BERMUDA
| ||||||||
| Number of Shares Beneficially Owned by Each Reporting Person With: |
| ||||||||
| 11 | Aggregate amount beneficially owned by each reporting person
58,322.63 | ||||||||
| 12 | Check if the aggregate amount in Row (11) excludes certain shares (See Instructions)
| ||||||||
| 13 | Percent of class represented by amount in Row (11)
4.3 % | ||||||||
| 14 | Type of Reporting Person (See Instructions)
OO |
SCHEDULE 13D
|
| Item 1. | Security and Issuer | |
| (a) | Title of Class of Securities:
Class Z Shares of Beneficial Interest | |
| (b) | Name of Issuer:
NEXPOINT REAL ESTATE STRATEGIES FUND | |
| (c) | Address of Issuer's Principal Executive Offices:
300 CRESCENT COURT, SUITE 700, DALLAS,
TEXAS
, 75201. | |
Item 1 Comment:
This Amendment No. 6 (this "Amendment") is being filed on behalf of NexPoint Advisors, L.P. ("NexPoint"), James D. Dondero, Nancy Marie Dondero, and Governance Re, Ltd. (collectively, the "Reporting Persons"), and amends the Schedule 13D filed with the United States Securities and Exchange Commission on September 29, 2023 (the "Schedule 13D"). The Schedule 13D is supplementally amended as follows. | ||
| Item 5. | Interest in Securities of the Issuer | |
| (a) | As of November 20, 2025, (i) NexPoint may be deemed to beneficially own 19,581.74 Shares, which represents approximately 1.44% of the outstanding Shares, (ii) James D. Dondero may be deemed to beneficially own 93,631.59 Shares, which represents approximately 6.9% of the outstanding Shares, (iii) Nancy Marie Dondero may be deemed to own 15,727.22 Shares, which represents approximately 1.16% of the outstanding Shares and (iv) Governance Re may be deemed to own 58,322.63 Shares, which represents approximately 4.30% of the outstanding Shares. | |
| (b) | (1) NexPoint has sole voting power and sole dispositive power with respect to 0 Shares and shared voting power and shared dispositive power with respect to 19,581.74 Shares. These Shares are held by NexPoint indirectly through advised accounts. Mr. Dondero is the sole member of NexPoint's general partner, and may be deemed to be an indirect beneficial owner of the shares held by NexPoint. (2) Mr. Dondero has sole voting power and sole dispositive power with respect to 0 Shares and shared voting power and shared dispositive power with respect to 93,631.59 Shares. This includes Shares held by Mr. Dondero indirectly through NexPoint. This also includes Shares that Mr. Dondero has the right to acquire beneficial ownership of that are held by a trust, for which he does not serve as trustee. Mr. Dondero is the sole member of the general partner of NexPoint, and may be deemed to be an indirect beneficial owner of the Shares held by NexPoint. Mr. Dondero disclaims beneficial ownership of such Shares except to the extent of his pecuniary interest therein. (3) A trust for which Ms. Dondero serves as trustee has sole voting power and sole dispositive power with respect to 0 Shares and shared voting power and shared dispositive power with respect to 15,727.22 Shares. Ms. Dondero is the sister of Mr. Dondero. Ms. Dondero and Mr. Dondero disclaim beneficial ownership of such Shares except to the extent of their pecuniary interest therein. (4) Governance Re Ltd. has sole voting and sole dispositive power with respect to 0 Shares and shared voting power and shared dispositive power with respect to 58,322.63 Shares. Governance Re Ltd. is ultimately controlled by Mr. Dondero. Mr. Dondero may be deemed to be an indirect beneficial owner of Shares held by Governance Re Ltd. Mr. Dondero disclaims beneficial ownership of such Shares except to the extent of his pecuniary interest therein. | |
| (c) | A trust for which Ms. Dondero serves as trustee acquired 134.152 Shares at a price per Share of $14.01 on September 30, 2025, and it acquired 136.654 Shares at a price per Share of $13.86 on October 31, 2025, in each case pursuant to the dividend reinvestment program of the issuer. NexPoint acquired 167.031 Shares at a price per Share of $14.01 on September 29, 2025, and it acquired 170.146 Shares at a price per Share of $13.86 on October 30, 2025. There have been no other transactions in the Shares during the past 60 days by the Reporting Persons. | |
| (d) | No person other than the Reporting Persons is known to have the right to receive, or the power to direct the receipt of dividends from, or proceeds from the sale of, the Shares. | |
| (e) | Not applicable. | |
| SIGNATURE | |
After reasonable inquiry and to the best of my knowledge and belief, I certify that the information set forth in this statement is true, complete and correct.
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