Highland Global Allocation Fund: insider trades · United States · SEC (Form 4)

About Highland Global Allocation Fund

Highland Global Allocation Fund (NYSE: HGLB) is a U.S.-listed closed-end fund organized as a Massachusetts business trust and traded on the NYSE. For French-speaking investors looking at the name through a fundamental lens, HGLB is best understood as an actively managed multi-asset allocation vehicle rather than a traditional single-sector equity fund. Its mandate is to seek long-term capital growth and future income, which in practical terms means the portfolio can rotate across several asset classes depending on opportunity, valuation, and credit conditions. The fund is headquartered in Dallas, Texas, United States, placing it squarely within the U.S. asset-management ecosystem. HGLB’s strategy is broad and opportunistic. Publicly disclosed portfolio snapshots show meaningful exposure to U.S. equities, non-U.S. equities, U.S. senior loans, U.S. master limited partnerships, U.S. LLC interests, and shares of other investment companies. That mix signals a flexible allocation framework designed to blend growth assets with yield-oriented and credit-sensitive instruments. In a market environment where correlations can shift quickly, that type of structure can be attractive to investors seeking diversification within a single listed wrapper. It also means, however, that performance may be driven by multiple factors at once: equity markets, credit spreads, interest-rate conditions, energy-linked exposures, and the fund’s positioning across regions. From a competitive standpoint, Highland Global Allocation Fund sits in the niche of actively managed listed closed-end funds offering a diversified, income-aware approach. Its appeal lies in the ability to package a cross-asset strategy into a publicly traded security on the NYSE, with daily market liquidity and a distribution policy that may appeal to income-focused investors. The trade-off is complexity: the fund is not a plain-vanilla benchmark tracker, and investors must be comfortable with active manager discretion, leverage- and discount/premium-related dynamics typical of closed-end funds, and exposure to foreign markets and lower-liquidity instruments. Historically, the fund was converted from an open-end structure to a standalone closed-end fund in February 2019 and began trading on the NYSE shortly thereafter, marking an important structural change in its evolution. Recent developments include a January 2026 announcement of monthly distributions of $0.085 per share, with the annual distribution rate reset to 8.5% of average NAV based on the final five trading days of 2025. For investors in France, Belgium, and Switzerland, HGLB is therefore a U.S. NYSE-listed fund that combines multi-asset allocation, income generation, and active management in a single exchange-traded vehicle.