HGLB: Flawed Portfolio Structure Limits Appeal

2026-01-12 06:37:25 ET

Overview

When I previously covered the Highland Global Allocation Fund ( HGLB ), I issued a hold rating due to the uncertainty of the markets at the time and the fund's heavy concentration into a few select positions. Global funds were an efficient way to navigate uncertainty around the U.S. government shutdown, but now that it's over, I wanted to revisit the fund's value proposition since we've crossed into 2026. Since my last coverage, HGLB also released an updated annual report for 2025, so I wanted to reassess the fund's internal performance and outlook for the next twelve months....

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