HMEAX — Highland Merger Arbitrage Fund
Data updated: 2026-08-31
HMEAX — Highland Merger Arbitrage Fund. United States Mid Cap Blend / Core Equity · $1.49B AUM. Holdings, fees, performance and SEC filings.
HMEAX Fund Overview
HMEAX — Highland Merger Arbitrage Fund is a US mutual fund managed by Nexpoint Funds I, categorised as United States Mid Cap Blend / Core Equity. ABC INVEST provides holdings, performance, costs, cashflows, risk data, prospectus documents and SEC filings, sourced from SEC filings.
- Type: US mutual fund
- Manager: Nexpoint Funds I
- Category: United States Mid Cap Blend / Core Equity
- Assets under management: $1.49B
- 1-year return: 4.7%
- Ticker: HMEAX
- SEC CIK: 0001354917
- SEC series ID: S000054634
- Share class ID: C000171609
HMEAX Holdings
Top 10 holdings of Highland Merger Arbitrage Fund by percentage of net assets, from the fund's latest SEC N-PORT filing.
| Holding | % of net assets |
|---|---|
| Nuvalent, Inc | 4.96% |
| Nuvalent, Inc | 4.96% |
| Global Business Travel Group, Inc. | 4.96% |
| Global Business Travel Group, Inc. | 4.96% |
| Taylor Morrison Home Corporation | 4.94% |
| Taylor Morrison Home Corporation | 4.94% |
| Topbuild Corp. | 4.90% |
| Topbuild Corp. | 4.90% |
| Essential Utilities, Inc. | 4.46% |
| Essential Utilities, Inc. | 4.46% |
HMEAX Portfolio Allocation
Asset-class allocation of Highland Merger Arbitrage Fund by percentage of net assets, from the latest SEC N-PORT filing.
| Asset class | Allocation |
|---|---|
| Equity | 179.5% |
| Loans | 11.6% |
| Cash & Equivalents | 5.8% |
| Fixed Income | 4.5% |
| Derivatives | 0.3% |
HMEAX Performance
Total returns for HMEAX (as of 2026-09-01), from SEC filings.
| Period | Total return |
|---|---|
| YTD | 1.7% |
| 1 year | 4.7% |
| 3 years (annualised) | 6.0% |
| 5 years (annualised) | 4.3% |
HMEAX Risk Information
Risk metrics for HMEAX, derived from monthly returns in SEC filings.
- 1-year volatility (annualised): 0.9%
HMEAX Costs and Fees
HMEAX costs about $225 per $10,000 invested per year in fund expenses.
- Net expense ratio: 2.25%
- Gross expense ratio: 2.45%
- Portfolio turnover: 406%
- Brokerage commissions: 19.57 bps of average net assets (SEC N-CEN)
HMEAX Cashflows
Over the 12 months to 2026-06, Highland Merger Arbitrage Fund had net inflows of $395.51M, from monthly SEC N-PORT filings.
| Month | Net flow |
|---|---|
| 2026-06 | −$4.56M |
| 2026-05 | $44.10M |
| 2026-04 | $62.61M |
| 2026-03 | $56.16M |
| 2026-02 | $58.44M |
| 2026-01 | $71.19M |
HMEAX Debt Constituents
Largest debt holdings of Highland Merger Arbitrage Fund by percentage of net assets, from the latest SEC N-PORT filing.
| Debt holding | % of net assets |
|---|---|
| Echostar Corporation | 1.14% |
| Echostar Corporation | 1.14% |
| Getty Images, Inc. | 0.64% |
| Getty Images, Inc. | 0.64% |
| Organon & Co. | 0.48% |
| Organon & Co. | 0.48% |
HMEAX Prospectus and SEC Filings
Official Highland Merger Arbitrage Fund filings on SEC EDGAR — prospectus, portfolio holdings and annual reports.
- Prospectus (485BPOS) — filed 2025-10-28
- Prospectus (485BPOS) — filed 2024-10-28
- Prospectus (485BPOS) — filed 2023-10-27
- Portfolio holdings (N-PORT) — filed 2026-08-31
- Portfolio holdings (N-PORT) — filed 2026-06-01
- Portfolio holdings (N-PORT) — filed 2026-03-02
- Annual census (N-CEN) — filed 2025-09-11
- Annual census (N-CEN) — filed 2024-09-13
Related Funds
Other United States Mid Cap Blend / Core Equity funds tracked on ABC INVEST:
Data Sources
ABC INVEST compiles this page from public filings made to the U.S. Securities and Exchange Commission (SEC) through EDGAR: portfolio holdings and monthly cashflows from Form N-PORT, expenses and returns from fund prospectuses (Form 485BPOS) and the SEC DERA Risk/Return Summary data sets, annual data from Form N-CEN, and shareholder reports from Form N-CSR.