Pendrell Corp (PCO): Highland Capital Halves Its Stake Following Stock’s Big Run

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SCHEDULE 13G

This Schedule 13G (this Schedule 13G) is being filed on behalf of Highland Capital Management, L.P., a Delaware limited
partnership (Highland Capital), Strand Advisors, Inc., a Delaware corporation (Strand), and James D. Dondero (collectively, the Reporting Persons).

James D. Dondero is the President of Strand. Highland Capital serves, directly or indirectly, as the general partner or investment advisor to
certain private funds and managed accounts (the HCM Funds). This Schedule 13G relates to the Class A common stock, par value $0.01 per share (the Common Stock), of Pendrell Corporation, a Washington corporation (the
Issuer), held by (i) the HCM Funds, (ii) certain other private funds and managed accounts ultimately advised by James D. Dondero (together with the HCM Funds, the Funds) and (iii) a trust controlled by James D.
Dondero (the Trust).

The shares of Common Stock held by the Reporting Persons reported on this Schedule 13G were previously
reported on a Schedule 13D/A most recently filed with the Securities Exchange Commission on September 1, 2010.

Item 1(a)

Name of Issuer.

Pendrell Corporation

Item 1(b)

Address of Issuers Principal Executive Offices.

2300 Carillon Point

Kirkland, Washington 98033

Item 2(a)

Name of Person Filing.

(1)

Highland Capital Management, L.P.

(2)

Strand Advisors, Inc.

(3)

James D. Dondero

Item 2(b)

Address of Principal Business Office, or, if none, Residence.

For all Filers:

300 Crescent Court, Suite 700

Dallas, Texas 75201

Item 2(c)

Citizenship or Place of Organization.

(1)

Highland Capital Management, L.P. is a Delaware limited partnership

(2)

Strand Advisors, Inc. is a Delaware corporation

(3)

James D. Dondero is a United States citizen

Item 2(d)

Title of Class of Securities.

Class A common stock, par value $0.01 per share

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