SCHEDULE Filed 2026-01-02 Event 2025-12-30 SEC 0001437749-26-000164 →

DONDERO JAMES D → NexPoint Real Estate Finance, Inc. NREF-PA

Stake: 54.00% Shares: 10,034,228 CUSIP: 65342V101 Class: Common Stock, par value $0.01 per share

Composite Decision Signal · PASS (LOW BASE-RATE EDGE) Conviction Score: 14/100 · Filer 90d Win Rate: 0% · Hist. 90d Edge: +0.0%

Passive Schedule 13G filer baseline
High conviction ownership stake (54.0%)
10 NPORT-P mutual funds holding CUSIP

Item 4 — Purpose of Transaction

Between November 1, 2025 and January 1, 2026, a trust of which Nancy Marie Dondero is trustee acquired 8,044.89 shares of Common Stock in connection with dividend reinvestments in the Issuer and James D. Dondero acquired 12,012.91 shares of Common Stock in connection with dividend reinvestments in the Issuer. On December 30, 2025, the Reporting Persons acquired an aggregate of 852,273 shares of Common Stock in connection with the redemption of 852,273 OP Units. At the Company's 2021 annual meeting, stockholders approved the issuance of shares of Common Stock in connection with the redemption of OP Units or common partnership units in the subsidiary partnerships of the OP that may be redeemed for OP Units held by the Reporting Persons.

Cross-References

Insider Activity (last 365d)

0 transactions

0 buys · 0 sales · 0 awards/exercises

Issuer Cluster

4 13D/G filings on this issuer

3 other filings besides this one

Filer Track Record

17 filings by this filer

16 other filings in the data moat

Short Interest

—

Not in latest FINRA snapshot

Post-Filing Returns · since 2025-12-30 on NREF-PA

+1 day

0.0%

+5 days

0.0%

+30 days

0.0%

+60 days

0.0%

+90 days

0.0%

+180 days

0.0%

Anchor price 24.48 on closest trading day on/after 2025-12-30. Source: Yahoo Finance daily adj_close (split + dividend adjusted).

Other 13D/G Filings on NexPoint Real Estate Finance, Inc.

Filed	Form	Filer	Stake	Shares
2022-01-10	SC	DONDERO JAMES D	—	—	view →
2021-09-10	SC	DONDERO JAMES D	—	—	view →
2020-08-13	SC	DONDERO JAMES D	—	—	view →

Other Filings by DONDERO JAMES D

Filed	Form	Issuer	Stake	Shares
2026-09-25	SCHEDULE 13D/A	NEXPOINT REAL ESTATE STRATEGIES FUND	8.00%	21,445.61	view →
2026-09-25	SCHEDULE 13D/A	NexPoint Residential Trust, Inc.	14.10%	3,595,942.22	view →
2026-07-29	SCHEDULE 13D/A	HIGHLAND OPPORTUNITIES & INCOME FUND	9.60%	5,218,875.74	view →
2026-04-01	SCHEDULE 13D/A	HIGHLAND OPPORTUNITIES & INCOME FUND HFRO-PB	8.50%	4,703,007.06	view →
2026-01-21	SCHEDULE	NEXPOINT DIVERSIFIED REAL ESTATE TRUST NXDT-PA	24.00%	12,093,550	view →
2024-01-29	SC	NexPoint Residential Trust, Inc. NXRT	—	—	view →
2022-07-13	SC	NexPoint Residential Trust, Inc. NXRT	—	—	view →
2022-03-18	SC	NEXPOINT REAL ESTATE STRATEGIES FUND NRSAX	—	—	view →
2022-02-02	SC	NEXPOINT DIVERSIFIED REAL ESTATE TRUST NXDT-PA	—	—	view →
2022-01-10	SC	NexPoint Real Estate Finance, Inc. NREF-PA	—	—	view →
2021-10-25	SC	NexPoint Strategic Opportunities Fund NXDT-PA	—	—	view →
2021-09-10	SC	NexPoint Real Estate Finance, Inc. NREF-PA	—	—	view →
2021-03-03	SC	NexPoint Strategic Opportunities Fund NXDT-PA	—	—	view →
2020-08-13	SC	NexPoint Real Estate Finance, Inc. NREF-PA	—	—	view →
2020-04-06	SC	NexPoint Strategic Opportunities Fund NXDT-PA	—	—	view →
2020-04-01	SC	NexPoint Residential Trust, Inc. NXRT	—	—	view →

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