According to new SEC filing, Highland Capital Management Fund (based in Texas) has raised its position in Nexpoint Credit Strategies Fund. It means that it now has 793,036 shares, a figure which accounts for 5 percent of the common stock. Highland Capital was founded in 1993 and majors on public equity, structured investments, fixed income and distressed investment funds. The SEC filing also put the value of Highland Capital at $2.44 billion. The increase in shares means that James Dondero, co-founder of Highland Capital now has 3.01 million shares, which makes it 18.8 percent of the total float of the company.
At the end of September, Highland bought 20, 286 new Nexpoint shares and increased their worth of the shares to $11.68 million. It made Highland the second-largest stakeholder in the company. The first is Morgan Stanley which has more than $16.77 million worth of Nexpoint Credit Strategies Fund (NYSE: NHF) shares. Nexpoint is among the top 10 percent of Close-End Funds (CEFs). Its portfolio is valued at $600 million, and its net assets amount to around $382 million.
James “Jim” Dondero is the chief executive officer and serves as the chairman of the board of Highland Acquisition Corporation (HAC). He has served as the secretary and president of HAC from April 25, 2016. He co-founded Highland Capital Management in 1993 and is its managing partner and president. He is actively involved in Highland’s operational and strategic investment plans. Jim is the president and chairman of Nexpoint Residential, Inc. He has been serving as the as the portfolio manager of Nexpoint since September 2012. He is the founder of Nexpoint Advisors, LP and serves as portfolio manager and president.
Mr. Dondero has over three decades of experience in the equity and credit markets. Under his leadership, Highland Capital has offered various ingenious solutions to investors. Jim graduated from the University of Virginia’s McIntire School in 1884 with majors in finance and accounting with the highest honors. He joined the Morgan Guaranty Training program on the year he graduated, and that’s where his career as an analyst started. James holds Certified Management Accountant (CMA) and Chartered Financial Analyst (CFA) certificates. He joined American Express in 1985 as a corporate bond analyst and left in1989. He is currently on the board of American Banknote and MGM Studios.