Highland Floating Rate Opportunities Fund

Fund Holdings

Asset Allocation

% Long % Short % Net
Cash 20.04 0.0 20.04
Stocks 8.4 2.21 6.19
Bonds 57.61 0.0 57.61
Other 4.55 0.0 4.55
Foreign Bonds 11.61 0.0 11.61
Foreign Stocks 0.0 0.0 0.0
Convertible 0.0 0.0 0.0
Preferred 0.0 0.0 0.0

Updated 12.31.2013

Top 10 Holdings

Performance as of 03.31.2014

Portfolio as of 12.31.2013

Ticker YTD Return % % Net Assets
Media General Inc. Class A MEG -17.26 4.44
Metro Goldwyn Mayer Inc --- --- 1.79
Ccs Med Hldgs Inc --- --- 1.62
Txu Us Hldgs Co --- --- 1.52
Dell Intl Llc --- --- 1.43
Supervalu Inc --- --- 1.28
Highland/iBoxx Senior Loan ETF --- --- 1.22
Tribune Company --- --- 1.19
J C Penney Corp Inc --- --- 1.18
Arch Coal Inc --- --- 1.13