SCHEDULE 13G/A 0001084208-25-000006 0001084208 XXXXXXXX LIVE 1 Common Shares 09/30/2025 0001710680 HIGHLAND OPPORTUNITIES & INCOME FUND 43010E404 300 CRESCENT COURT 300 CRESCENT COURT DALLAS TX 75201 Rule 13d-1(b) RAYMOND JAMES & ASSOCIATES b X1 3212550.96 3212550.96 4.5 IA HIGHLAND OPPORTUNITIES & INCOME FUND 300 CRESCENT COURT, 300 CRESCENT COURT, DALLAS, TEXAS, 75201. RAYMOND JAMES & ASSOCIATES 880 CARILLON PARKWAY, ST PETERSBURG FL 33716 US N BD IA 3,212,550.96 4.5% 0 0 3,212,550.96 0 Y Y Y Y Y N By signing below I certify that, to the best of my knowledge and belief, the securities referred to above were acquired and are held in the ordinary course of business and were not acquired and are not held for the purpose of or with the effect of changing or influencing the control of the issuer of the securities and were not acquired and are not held in connection with or as a participant in any transaction having that purpose or effect, other than activities solely in connection with a nomination under § 240.14a-11. RAYMOND JAMES & ASSOCIATES Rachel Jacobson 10/31/2025