Related Party Transactions (Tables)

6 Months Ended

Jun. 30, 2025

For the six months ended and as of June 30, 2025, the Company had the following investments in entities managed or advised by, or directly or indirectly owned by entities managed or advised by, affiliates of the Adviser (in thousands).

Related Party

Investment

Fair
Value/Carrying Value

Change in Unrealized
Gain/(Loss)

Realized
Gain/(Loss)

Equity in income (loss)

Interest and
Dividends

Total Income


Related Party	Investment	Fair Value/Carrying Value		Change in Unrealized Gain/(Loss)			Realized Gain/(Loss)		Equity in income (loss)		Interest and Dividends		Total Income
NexPoint Real Estate Finance, Inc.	Common Stock	$	28,958	$	(3,990)		$	—	$	—	$	2,100	$	(1,890)
NexPoint Storage Partners, Inc.	Common Stock	50,844		(11,866)			—		—		—		(11,866)
NexPoint Residential Trust, Inc.	Common Stock	3,288		(829)			—		—		100		(729)
NexPoint SFR Operating Partnership, L.P.	Convertible Notes	14,081		236			—		—		668		904

NexPoint Storage Partners Operating Company, LLC	LLC Units	35,094		(7,915)			—		—		—		(7,915)

Claymore Holdings, LLC	LLC Units	—		—			—		—		—		—
Allenby, LLC	LLC Units	—		456			3,493		—		—		3,949
Haygood, LLC.	LLC Units	—		31			(31)		—		—		—
VineBrook Homes Operating Partnership, L.P.	Partnership Units	134,076		(17,631)			—		—		2,986		(14,645)
NexPoint Real Estate Finance Operating Partnership, L.P.	Partnership Units	67,145		(9,251)			—		—		4,869		(4,382)
NexPoint SFR Operating Partnership, L.P.	Partnership Units	33,322		(5,941)			—		—		1,310		(4,631)
NexAnnuity Holdings, Inc.	Preferred Shares	72,719		—			—		—		2,824		2,824

NexPoint Storage Partners Operating Company, LLC	Promissory Note	2,754		(11)		—	—		—		74		63
NexPoint SFR Operating Partnership, L.P.	Promissory Note	—		—		—	—		—		7		7
NFRO SFR REIT, LLC	Promissory Note	—		—		—	—		—		88		88
NFRO SFR REIT, LLC	Promissory Note	—		—		—	—		—		82		82

Semiconductor DST	LLC Units	23,959		—			—		—		690		690
Life Science II DST	LLC Units	9,600		—			—		—		235		235
Capital Acquisitions Partners, LLC	LLC Units	614		—			—		206		—		206
Total		$	476,454	$	(56,711)		$	3,462	$	206	$16,033		$	(37,010)

For the six months ended and as of June 30, 2024, the Company had the following investments in entities managed or advised by, or directly or indirectly owned by entities managed or advised by, affiliates of the Adviser (in thousands).


Related Party	Investment	Fair Value/Carrying Value		Change in Unrealized Gain/(Loss)		Equity in income (loss)		Interest and Dividends		Total Income
NexPoint Real Estate Finance, Inc.	Common Stock	$	28,812	$	(4,263)	$	—	$	2,100	$	(2,163)
NexPoint Storage Partners, Inc.	Common Stock	67,256		(932)		—		—		(932)
NexPoint Residential Trust, Inc.	Common Stock	3,719		481		—		86		567
NexPoint SFR Operating Partnership, L.P.	Convertible Notes	20,824		11		—		814		825
NexPoint Storage Partners Operating Company, LLC	LLC Units	36,649		(508)		—		—		(508)
SFR WLIF III, LLC	LLC Units	6,948		—		370		—		370
Claymore Holdings, LLC	LLC Units	—		(110)		—		—		(110)
Allenby, LLC	LLC Units	—		(46)		—		—		(46)
Haygood, LLC.	LLC Units	—		—		—		—		—
VineBrook Homes Operating Partnership, L.P.	Partnership Units	156,658		7,201		—		2,943		10,144
NexPoint Real Estate Finance Operating Partnership, L.P.	Partnership Units	66,804		(9,885)		—		4,869		(5,016)
NexPoint SFR Operating Partnership, L.P.	Partnership Units	46,310		(4,315)		—		1,242		(3,073)
NexAnnuity Holdings, Inc.	Preferred Shares	67,181		—		—		2,613		2,613
NexPoint Storage Partners Operating Company, LLC	Promissory Note	4,986		(15)		—		134		119
NexPoint SFR Operating Partnership, L.P.	Promissory Note	500		—		—		22		22
NREF OP IV, L.P.	Promissory Note	5,900		—		—		96		96
Total		$	512,547	$	(12,381)	$	370	$	14,919	$	2,908