Highland Capital Management, a fund that specializes in structured investments, public equity, fixed income and distressed investment funds, just increased its ownership in Nexpoint Credit Strategies Fund (NHF-NYSE). They now own 793,036 shares of the company. This equates to 5% of the outstanding shares. James Dondero, a co-founder and the President of Highland Capital Management owns 3.01 million shares of Nexpoint, 18.8% of the company’s stock.
Highland and Dondero are the largest stakeholders in the company, next to Morgan Stanley. The company is operated by NexPoint Advisors, an affiliate of Highland Capital. Nexpoint Credit Strategies has beaten the S&P 500 and is in the top 10 percent of Closed End Funds. Its objectives are income and capital appreciation. They accomplish this goal by investing in “low grade debt” instruments and equity. They claim to have a way to hedge their risks well. The fund has nearly $382 million in net assets. The Nexpoint Credit fund tries to exceed the average hedge fund return. It was up 5.92% last year.
James Dondero has used his 30 years of experience in the investment arena to build Highland Capital into a successful investment company, that specializes in high yield investing and investing in distressed assets. The company offers a number of investment vehicles to its clients, including Collateralized Loan Obligations, mutual funds, hedge funds, real estate investment trusts and more.
Dondero is Chairman of Cornerstone Healthcare, as well as a member of the board for American Banknote and MGM Studios. James is a Certified Management Accountant (CMA) as well as a Chartered Financial Analyst (CFA), He is heavily involved in philanthropy in his community and around the world. He has partnered with The Dallas Foundation, to provide support to the local community and to provide an easy way for his company and employees to get involved in charitable giving.