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Filing Details

Accession Number:
0001193125-19-176474
Form Type:
13D Filing
Publication Date:
2019-06-19 16:06:03
Ownership Summary

Please notice the below summary table is generated without human intervention and may contain errors. Please refer to the complete filing displayed below for exact figures.

Name Sole Voting Power Shared Voting Power Sole Dispositive Power Shared Dispositive Power Aggregate Amount Owned Power Percent of Class
Highland Capital Management 629,594 1,240,566 629,594 1,240,566 1,870,161 4.07%
James D. Dondero 61,070 5,966,118 61,070 5,966,118 6,027,189 13.13%
Nancy Marie Dondero 17,770 2,317,746 17,770 2,317,746 2,335,517 5.09%
Filing

 

 

SECURITIES AND EXCHANGE COMMISSION

WASHINGTON, D.C. 20549

 

 

SCHEDULE 13D

Under the Securities Exchange Act of 1934

(Amendment No. 19)*

 

 

NexPoint Strategic Opportunities Fund

(Name of Issuer)

Common Stock

(Title of Class of Securities)

65340G106

(CUSIP NUMBER)

Jason Post, Chief Compliance Officer

NexPoint Advisors, L.P.

300 Crescent Court, Suite 700

Dallas, Texas 75201

(Name, Address and Telephone Number of Person Authorized to Receive Notices and Communications)

May 31, 2019

(Date of event which requires filing of this statement)

 

 

If the filing person has previously filed a statement on Schedule 13G to report the acquisition which is the subject of this Schedule 13D, and is filing this schedule because of Rule 13d-1(e), 13d-1(f) or 13d-1(g) check the following box  ☐.

 

 

Note: Schedules filed in paper format shall include a signed original and five copies of the schedule, including all exhibits. See §240.13d-7 for other parties to whom copies are to be sent.

 

 

 

*

The remainder of this cover page shall be filled out for a reporting persons initial filing on this form with respect to the subject class of securities, and for any subsequent amendment containing information which would alter disclosures provided in a prior cover page.

The information required in the remainder of this cover page shall not be deemed to be filed for the purpose of Section 18 of the Securities Exchange Act of 1934, as amended (the Act), or otherwise subject to the liabilities of that section of the Act but shall be subject to all other provisions of the Act.

 

 

 


CUSIP No. 65340G106    13D   

 

  1    

  NAME OF REPORTING PERSONS

  I.R.S. IDENTIFICATION NOS. OF ABOVE PERSONS (ENTITIES ONLY)

 

  Highland Capital Management, L.P.

  2    

  CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP*

  (a)  ☐        (b)  ☒

 

  3    

  SEC USE ONLY

 

  4    

  SOURCE OF FUNDS*

 

  WC

  5    

  CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT TO ITEM 2(d) or 2(e)

 

  ☐

  6    

  CITIZENSHIP OR PLACE OF ORGANIZATION

 

  Delaware

NUMBER OF

SHARES

  BENEFICIALLY  

OWNED BY

EACH

REPORTING

PERSON

WITH

    7     

  SOLE VOTING POWER

 

  629,594.84

  8     

  SHARED VOTING POWER

 

  1,240,566.96

  9     

  SOLE DISPOSITIVE POWER

 

  629,594.84

  10     

  SHARED DISPOSITIVE POWER

 

  1,240,566.96

11    

  AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON

 

  1,870,161.8

12    

  CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES*

 

  ☐

13    

  PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)

 

  4.07%

14    

  TYPE OF REPORTING PERSON*

 

  IA, PN

 

*

SEE INSTRUCTIONS BEFORE FILLING OUT


CUSIP No. 65340G106    13D   

 

  1    

  NAME OF REPORTING PERSONS

  I.R.S. IDENTIFICATION NOS. OF ABOVE PERSONS (ENTITIES ONLY)

 

  James D. Dondero

  2    

  CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP*

  (a)  ☐        (b)  ☒

 

  3    

  SEC USE ONLY

 

  4    

  SOURCE OF FUNDS*

 

  WC/AF

  5    

  CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT TO ITEM 2(d) or 2(e)

 

  ☐

  6    

  CITIZENSHIP OR PLACE OF ORGANIZATION

 

  United States

NUMBER OF

SHARES

  BENEFICIALLY  

OWNED BY

EACH

REPORTING

PERSON

WITH

    7     

  SOLE VOTING POWER

 

  61,070.5207

  8     

  SHARED VOTING POWER

 

  5,966,118.65

  9     

  SOLE DISPOSITIVE POWER

 

  61,070.5207

  10     

  SHARED DISPOSITIVE POWER

 

  5,966,118.65

11    

  AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON

 

  6,027,189.1707

12    

  CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES*

 

  ☐

13    

  PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)

 

  13.13%

14    

  TYPE OF REPORTING PERSON*

 

  HC, IN

 

*

SEE INSTRUCTIONS BEFORE FILLING OUT


CUSIP No. 65340G106    13D   

 

  1    

  NAME OF REPORTING PERSONS

  I.R.S. IDENTIFICATION NOS. OF ABOVE PERSONS (ENTITIES ONLY)

 

  Nancy Marie Dondero

  2    

  CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP*

  (a)  ☐        (b)  ☒

 

  3    

  SEC USE ONLY

 

  4    

  SOURCE OF FUNDS*

 

  AF

  5    

  CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT TO ITEM 2(d) or 2(e)

 

  ☐

  6    

  CITIZENSHIP OR PLACE OF ORGANIZATION

 

  United States

NUMBER OF

SHARES

  BENEFICIALLY  

OWNED BY

EACH

REPORTING

PERSON

WITH

    7     

  SOLE VOTING POWER

 

  17,770.22

  8     

  SHARED VOTING POWER

 

  2,317,746.8554

  9     

  SOLE DISPOSITIVE POWER

 

  17,770.22

  10     

  SHARED DISPOSITIVE POWER

 

  2,317,746.8554

11    

  AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON

 

  2,335,517.0754

12    

  CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES*

 

  ☐

13    

  PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)

 

  5.09%

14    

  TYPE OF REPORTING PERSON*

 

  IN

 

*

SEE INSTRUCTIONS BEFORE FILLING OUT


SCHEDULE 13D/A

This Amendment No. 19 (this Amendment) is being filed on behalf of Highland Capital Management, L.P., a Delaware limited partnership (Highland Capital), James D. Dondero, and Nancy Marie Dondero (collectively, the Reporting Persons), and amends the Schedule 13D filed with the United States Securities and Exchange Commission on September 24, 2014, as subsequently amended on October 24, 2014, as subsequently amended on October 31, 2014, as subsequently amended on February 27, 2015, as subsequently amended on March 12, 2015, as subsequently amended on April 29, 2015, as subsequently amended on August 5, 2015, as subsequently amended on August 11, 2015, as subsequently amended on September 1, 2015, as subsequently amended on October 16, 2015, as subsequently amended on January 22, 2016, as subsequently amended on April 22, 2016, as subsequently amended on August 25, 2016, as subsequently amended on October 25, 2016, as subsequently amended on February 22, 2017, as subsequently amended on June 23, 2017, as subsequently amended on May 8, 2018, as subsequently amended on June 13, 2018, as subsequently amended on October 25, 2018 relating to the Common Stock (the Common Stock), of NexPoint Strategic Opportunities Fund (f/k/a NexPoint Credit Strategies Fund), a Delaware statutory trust (the Issuer), held by the Reporting Persons and certain related or other entities.

The information set forth in response to each separate Item below shall be deemed to be a response to all Items where such information is relevant. The Schedule 13D is supplementally amended as follows.

 

Item 3.

Source and Amount of Funds

The responses to Items 4, 5 and 6 of the Schedule 13D are incorporated herein by reference.

As of May 31, 2019, the Reporting Persons had invested approximately $156,165,523.96 (inclusive of brokerage commissions) in the securities of the Issuer. The source of these funds was the working capital of the Reporting Persons.

Purchases of securities are typically effected through margin accounts maintained with brokers, which may extend margin credit as and when required to open or carry positions in the margin accounts, subject to applicable federal margin regulations, stock exchange rules and the brokers credit policies. In such instances, the positions held in the margin accounts are pledged as collateral security for the repayment of debit balances in the accounts.

 

Item 5.

Interest in Securities of the Issuer

(a) As of May 31, 2019, (i) Highland Capital may be deemed to beneficially own 1,870,161.8 shares of Common Stock, which represents approximately 4.07% of the outstanding Common Stock; (ii) James D. Dondero may be deemed to beneficially own 6,027,189.1707 shares of Common Stock, which represents approximately 13.13% of the outstanding Common Stock; and (iii) Nancy Marie Dondero, held in a joint account and in her capacity of trustee of a trust, may be deemed to beneficially own 2,335,517.0754 shares of Common Stock, which represents approximately 5.09% of the outstanding Common Stock. James D. Dondero has the right to acquire beneficial ownership of the 2,317,746.8554 shares of Common Stock owned by the trust.


(b)

 

Name of Reporting Person

   Sole Voting
Power
     Shared Voting
Power
     Sole
Dispositive
Power
     Shared
Dispositive
Power
 

Highland Capital Management, L.P.1

     629,594.84        1,240,566.96        629,594.84        1,240,566.96  

James D. Dondero2

     61,070.5207        5,966,118.65        61,070.5207        5,966,118.65  

Nancy Marie Dondero3

     17,770.22        2,317,746.8554        17,770.22        2,317,746.8554  

(c) Appendix A attached hereto lists all transactions in the Common Stock during the past sixty (60) days by the Reporting Persons. Except as otherwise noted, the transactions in the Common Stock were effected in the open market.

(d) No person other than the Reporting Persons is known to have the right to receive, or the power to direct the receipt of dividends from, or proceeds from the sale of, the Common Stock.

(e) Not applicable.

 

 

 

1 

These shares are held by Highland Capital both directly and indirectly through advised accounts. Mr. Dondero is the President and the director of the general partner of Highland Capital, and may be deemed to be an indirect beneficial owner of the shares held by Highland Capital. Mr. Dondero disclaims beneficial ownership of such shares except to the extent of his pecuniary interest therein.

2 

Includes shares held by Mr. Dondero directly and indirectly through Highland Capital and its affiliates (as described in footnote (1) above), an employee benefit plan and a trust. Also includes shares that Mr. Dondero has the right to acquire beneficial ownership of that are held by the trust referred to in Item 5(a), for which he does not serve as trustee. Mr. Dondero is the President and the director of the general partner of Highland Capital, and may be deemed to be an indirect beneficial owner of the shares held by Highland Capital. Mr. Dondero disclaims beneficial ownership of such shares except to the extent of his pecuniary interest therein.

3 

Includes shares held by Ms. Dondero directly, in a joint account, and indirectly through a trust that Ms. Dondero may be deemed to beneficially own as the trustee of the trust. Ms. Dondero is the sister of Mr. Dondero. Ms. Dondero and Mr. Dondero disclaim beneficial ownership of such shares. The trust previously overreported shares, because it had assumed re-investment of dividends, which due to a clerical error was not completed.


Dated: June 19, 2019

 

HIGHLAND CAPITAL MANAGEMENT, L.P.
By:   Strand Advisors, Inc., its general partner
  By:  

/s/ James D. Dondero

    Name: James D. Dondero
    Title: President

/s/ James D. Dondero

James D. Dondero

 

/s/ Nancy Marie Dondero

Nancy Marie Dondero


APPENDIX A

TRANSACTIONS

The following table sets forth all transactions with respect to the Common Stock effected in the last sixty (60) days by the Reporting Persons or on behalf of the Reporting Persons in respect of the shares of Common Stock. All transactions were acquisitions through the exercise of subscription rights.

 

Date

  

Effected By

   Quantity      Price Per Share  

5/31/2019

   Highland Capital Management, L.P. directly and indirectly through advised accounts      23,980      $ 17.77  

5/31/2019

   Highland Capital Management, L.P. directly and indirectly through advised accounts      4,797      $ 17.77  

5/31/2019

   Highland Capital Management, L.P. directly and indirectly through advised accounts      5,556      $ 17.77  

5/31/2019

   Highland Capital Management, L.P. directly and indirectly through advised accounts      11,990      $ 17.77  

5/31/2019

   Highland Capital Management, L.P. directly and indirectly through advised accounts      47,960      $ 17.77  

5/31/2019

   Managed accounts ultimately advised by Mr. Dondero      561,798      $ 17.77  

5/31/2019

   Managed accounts ultimately advised by Mr. Dondero      84,270      $ 17.77  

5/31/2019

   Managed accounts ultimately advised by Mr. Dondero      27,778      $ 17.77  

5/31/2019

   Managed accounts ultimately advised by Mr. Dondero      32,818      $ 17.77  

5/31/2019

   Managed accounts ultimately advised by Mr. Dondero      55,555      $ 17.77  

5/31/2019

   The Dugaboy Investment Trust      9,600      $ 17.77  

5/31/2019

   James D. Dondero      284      $ 17.77  

5/31/2019

   James D. Dondero      7,941      $ 17.77  

5/31/2019

   Nancy Dondero      160      $ 17.77