Envestnet Amends NRD Preferred Share Ownership Filing
Ticker: NXDT-PA · Form: SC 13G/A · Filed: Feb 1, 2024 · CIK: 1356115
Complexity: simple
Sentiment: neutral
Topics: institutional-ownership, amendment, preferred-shares
TL;DR
**Envestnet updated its filing on NRD preferred shares, showing continued institutional interest.**
AI Summary
Envestnet Asset Management, Inc. filed an amended SC 13G/A on February 1, 2024, indicating their ownership of 5.50% Series A Preferred Shares of NexPoint Diversified Real Estate Trust (NYSE: NRD). This amendment, dated January 13, 2023, updates their previous filing regarding their passive investment in the company. This matters to investors because it provides transparency into significant institutional holdings, which can influence stock stability and investor confidence in NRD's preferred shares.
Why It Matters
This filing updates the public record on a significant institutional investor's stake, offering transparency into who holds a substantial portion of NexPoint Diversified Real Estate Trust's preferred shares.
Risk Assessment
Risk Level: low — This is an amendment to a passive ownership filing, indicating no immediate change in control or strategy, thus posing low risk.
Analyst Insight
Investors should note that a significant institutional holder, Envestnet Asset Management, Inc., continues to hold a stake in NexPoint Diversified Real Estate Trust's preferred shares, which can be a sign of long-term confidence in the security, but this filing itself doesn't indicate a change in investment strategy.
Key Players & Entities
- Envestnet Asset Management, Inc. (company) — the reporting person filing the SC 13G/A
- NexPoint Diversified Real Estate Trust (company) — the issuer of the securities
- 5.50% Series A Preferred Shares (company) — the class of securities owned by Envestnet
- January 13, 2023 (date) — the date of the event requiring the filing
- February 1, 2024 (date) — the filing date of the SC 13G/A
FAQ
What type of filing is this document?
This document is an SC 13G/A, which is an amendment to a Schedule 13G filing under the Securities Exchange Act of 1934, specifically Rule 13d-1(b).
Who is the reporting person in this filing?
The reporting person is Envestnet Asset Management, Inc., with an IRS Identification Number of 36-4319587.
What is the name of the issuer whose securities are being reported?
The issuer is NexPoint Diversified Real Estate Trust, with a Central Index Key (CIK) of 0001356115.
What specific class of securities is covered by this filing?
The filing covers the 5.50% Series A Preferred Shares of NexPoint Diversified Real Estate Trust, identified by CUSIP Number 65340G304.
What was the date of the event that required this amendment?
The date of the event which required the filing of this statement was January 13, 2023.
Filing Stats: 932 words · 4 min read · ~3 pages · Grade level 9 · Accepted 2024-02-01 16:21:56
Filing Documents
- g21241sc13ga1.htm (SC 13G/A) — 39KB
- 0001214659-24-001623.txt ( ) — 41KB
(a)
Item 1(a). Name of Issuer: NexPoint Diversified Real Estate Trust
(b)
Item 1(b). Address of Issuer’s Principal Executive Offices: 300 Crescent Court, Suite 700, Dallas, TX 75201
(a)
Item 2(a). Name of Person Filing: Envestnet Asset Management, Inc.
(b)
Item 2(b). Address of Principal Business Office or, if none, Residence: 1 N. Wacker Drive, Suite 1925 Chicago, IL 60606
(c)
Item 2(c). Citizenship: USA
(d)
Item 2(d). Title of Class of Securities: 5.50% Series A Preferred Shares
(e)
Item 2(e). CUSIP Number: 65340G304 Page 3 of 6 Item 3. If this Statement is filed pursuant to 240.13d-1(b) or 240.13d-2(b) or (c), check whether the person filing is a: (a) ¨ Broker or dealer registered under Section 15 of the Act; (b) ¨ Bank as defined in Section 3(a)(6) of the Act; (c) ¨ Insurance company as defined in Section 3(a)(19) of the Act; (d) ¨ Investment company registered under Section 8 of the Investment Company Act of 1940; (e) x An investment adviser in accordance with Rule 13d-1(b)(1)(ii)(E); (f) ¨ An employee benefit plan or endowment fund in accordance with Rule 13d-1(b)(1)(ii)(F); (g) ¨ A parent holding company or control person in accordance with Rule 13d-1(b)(1)(ii)(G); (h) ¨ A savings association as defined in Section 3(b) of the Federal Deposit Insurance Act (12 U.S.C. 1813); (i) ¨ A church plan that is excluded from the definition of an investment company under section 3(c)(14) of the Investment Company Act of 1940; (j) ¨ A non-U.S. institution in accordance with Rule 240.13d-1(b)(1)(ii)(J); (k) ¨ Group, in accordance with Rule 240.13d-1(b)(1)(ii)(K). If filing as a non-U.S. institution in accordance with Rule 240.13d-1(b)(1)(ii)(J), please specify the type of institution: Item 4. Provide the following information regarding the aggregate number and percentage of the class of securities of the issuer identified in Item 1. (a) Amount Beneficially Owned: 0 (b) Percent of Class: 0% (c) Number of shares as to which such person has: (i) sole power to vote or to direct the vote: 0 (ii) shared power to vote or to direct the vote: (iii) sole power to dispose or to direct the disposition of: 0 (iv) shared power to dispose or to direct the disposition of: Page 4 of 6 Item 5. If this statement is being filed to report the fact that as of the date hereof the reporting perso