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Filing Details

Accession Number:
0001193125-17-126038
Form Type:
13D Filing
Publication Date:
2017-04-17 16:24:32
Filed By:
Highland Capital Management
Company:
Nexpoint Residential Trust Inc. (NYSE:NXRT)
Filing Date:
2017-04-17
SEC Url:
13D Filing
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 913,518 1,125,260 913,518 1,125,260 2,038,778 9.69%
NexPoint Advisors 0 15,400 0 15,400 15,400 0.07%
James D. Dondero 25,025 3,965,761 25,025 3,965,761 3,990,786 18.96%
Nancy Marie Dondero 1,904,082 7,500 1,904,082 7,500 1,911,582 9.08%
Sole VotingPower Shared VotingPower SoleDispositivePower SharedDispositivePower Highland Capital Management
Filing

 

 

SECURITIES AND EXCHANGE COMMISSION

WASHINGTON, DC 20549

 

 

SCHEDULE 13D

(Rule 13d-101)

INFORMATION TO BE INCLUDED IN STATEMENTS FILED PURSUANT

TO § 240.13d-1(a) AND AMENDMENTS THERETO FILED

PURSUANT TO § 240.13d-2(a)

(Amendment No. 8)

 

 

NEXPOINT RESIDENTIAL TRUST, INC.

(Name of Issuer)

Common Stock, $0.01 par value per share

(Title of Class of Securities)

65341D102

(CUSIP Number)

Thomas Surgent, Chief Compliance Officer

Highland Capital Management, L.P.

300 Crescent Court, Suite 700

Dallas, TX 75201

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

April 13, 2017

(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 that is the subject of this Schedule 13D, and is filing this schedule because of §§ 240.13d-1(e), 240.13d-1(f) or 240.13d-1(g), check the following box.  ☐

 

 

 


13D

 

CUSIP No. 65341D102   Page 1 of 6

 

  1   

NAME OF REPORTING PERSONS

 

Highland Capital Management, L.P.

  2  

CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP (see instructions)

(a)  ☐        (b)  ☒

 

  3  

SEC USE ONLY

 

  4  

SOURCE OF FUNDS (see instructions)

 

    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

 

    913,518.32

     8   

SHARED VOTING POWER

 

    1,125,260.56

     9   

SOLE DISPOSITIVE POWER

 

    913,518.32

   10   

SHARED DISPOSITIVE POWER

 

    1,125,260.56

11   

AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON

 

    2,038,778.88

12   

CHECK IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES    ☐  (see instructions)

 

13   

PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)

 

    9.69%

14   

TYPE OF REPORTING PERSON (see instructions)

 

    IA, PN

 


13D

 

CUSIP No. 65341D102   Page 2 of 6

 

  1   

NAME OF REPORTING PERSONS

 

NexPoint Advisors, L.P.

  2  

CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP (see instructions)

(a)  ☐        (b)  ☒

 

  3  

SEC USE ONLY

 

  4  

SOURCE OF FUNDS (see instructions)

 

    AF/OO

  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

 

    0

     8   

SHARED VOTING POWER

 

    15,400

     9   

SOLE DISPOSITIVE POWER

 

    0

   10   

SHARED DISPOSITIVE POWER

 

    15,400

11   

AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON

 

    15,400

12   

CHECK IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES    ☐  (see instructions)

 

13   

PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)

 

    0.07%

14   

TYPE OF REPORTING PERSON (see instructions)

 

    IA, PN

 


13D

 

CUSIP No. 65341D102   Page 3 of 6

 

  1   

NAME OF REPORTING PERSONS

 

James D. Dondero

  2  

CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP (see instructions)

(a)  ☐        (b)  ☒

 

  3  

SEC USE ONLY

 

  4  

SOURCE OF FUNDS (see instructions)

 

    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

 

    25,025.22

     8   

SHARED VOTING POWER

 

    3,965,761.09

     9   

SOLE DISPOSITIVE POWER

 

    25,025.22

   10   

SHARED DISPOSITIVE POWER

 

    3,965,761.09

11   

AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON

 

    3,990,786.30

12   

CHECK IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES    ☐  (see instructions)

 

13   

PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)

 

    18.96%

14   

TYPE OF REPORTING PERSON (see instructions)

 

    HC, IN

 


13D

 

CUSIP No. 65341D102   Page 4 of 6

 

  1   

NAME OF REPORTING PERSONS

 

Nancy Marie Dondero

  2  

CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP (see instructions)

(a)  ☐        (b)  ☒

 

  3  

SEC USE ONLY

 

  4  

SOURCE OF FUNDS (see instructions)

 

    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

 

    1,904,082.20

     8   

SHARED VOTING POWER

 

    7,500

     9   

SOLE DISPOSITIVE POWER

 

    1,904,082.20

   10   

SHARED DISPOSITIVE POWER

 

    7,500

11   

AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON

 

    1,911,582.20

12   

CHECK IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES    ☐  (see instructions)

 

13   

PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)

 

    9.08%

14   

TYPE OF REPORTING PERSON (see instructions)

 

    IN

 


13D

 

CUSIP No. 65341D102    Page 5 of 6

 

SCHEDULE 13D/A

This Amendment No. 8 (this Amendment) is being filed on behalf of Highland Capital Management, L.P., a Delaware limited partnership (Highland Capital), NexPoint Advisors, L.P., a Delaware limited partnership (NexPoint Advisors), James D. Dondero and Nancy Marie Dondero (collectively, the Reporting Persons), and amends the Schedule 13D filed on March 26, 2015, as subsequently amended on April 14, 2015, as subsequently amended on April 23, 2015, as subsequently amended on April 24, 2015, as subsequently amended on September 2, 2015, as subsequently amended on October 19, 2015, as subsequently amended on July 22, 2016 and as subsequently amended on October 20, 2016. This Amendment updates the stock ownership information for the Schedule 13D. The Schedule 13D is supplementally amended as follows.

Item 3. Source and Amount of Funds.

The Reporting Persons received an aggregate of 2,470,129 shares of Common Stock, par value $0.01 per share (the Common Stock) in connection with the consummation of the separation of the Issuer from NexPoint Credit Strategies Fund (the Spin-Off). As of April 13, 2017, the Reporting Persons had purchased additional shares of Common Stock with working capital in open market purchases for an aggregate purchase price of approximately $24,453,994.08.

Item 5. Interest in Securities of the Issuer.

(a) As of April 13, 2017, (i) Highland Capital may be deemed to beneficially own 2,038,778.88 shares of Common Stock, which represents approximately 9.69% of the outstanding Common Stock, (ii) NexPoint Advisors may be deemed to beneficially own 15,400 shares of Common Stock, which represents approximately 0.07% of the outstanding Common Stock, (iii) James D. Dondero may be deemed to beneficially own 3,990,786.30 shares of Common Stock, which represents approximately 18.96% of the outstanding Common Stock, and (iv) Nancy Marie Dondero, in her capacity of trustee of a trust, may deemed to beneficially own 1,911,582.20 shares of Common Stock, which represents approximately 9.08% of the outstanding Common Stock. James D. Dondero has the right to acquire beneficial ownership of the 1,911,582.20 shares of Common Stock owned by the trust referred to in the preceding sentence.

(b)

 

Name of Reporting Person

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

Highland Capital Management, L.P. (1)

     913,518.32        1,125,260.56        913,518.32        1,125,260.56  

NexPoint Advisors, L.P. (2)

     0        15,400        0        15,400  

James D. Dondero (3)

     25,025.22        3,965,761.09        25,025.22        3,965,761.09  

Nancy Marie Dondero (4)

     1,904,082.20        7,500        1,904,082.20        7,500  

 

(1) These shares are held by Highland Capital both directly and indirectly through advised accounts. Mr. Dondero is the President and the director of Strand Advisors, Inc., Highland Capitals general partner, 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.
(2) These shares are held by NexPoint Advisors indirectly through an advised account. Mr. Dondero is the sole member of NexPoint Advisors general partner, and may be deemed to be an indirect beneficial owner of shares held by NexPoint Advisors. Mr. Dondero disclaims beneficial ownership of such shares.
(3) These shares are held by Mr. Dondero both directly and indirectly through Highland Capital and NexPoint Advisors (as described in footnotes (1) and (2) 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 Strand Advisors, Inc., Highland Capitals general partner, and may be deemed to be an indirect beneficial owner of the shares held by Highland Capital. Mr. Dondero is also the sole member of NexPoint Advisors general partner, and may be deemed to be an indirect beneficial owner of shares held by NexPoint Advisors. Mr. Dondero disclaims beneficial ownership of such shares.
(4) Includes shares that Ms. Dondero may be deemed to beneficially own as the trustee of the trust referred to in Item 5(a). Ms. Dondero is the sister of Mr. Dondero.

13D

 

CUSIP No. 65341D102    Page 6 of 6

 

(c) Annex A attached hereto lists all transactions in the Common Stock during the past 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.


SIGNATURE

After reasonable inquiry and to the best of my knowledge and belief, each of the undersigned certifies that the information set forth in this statement is true, complete and correct.

Dated: April 17, 2017

 

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

/s/ James D. Dondero

  Name:   James D. Dondero
  Title:   President
NEXPOINT ADVISORS, L.P.
By: NexPoint Advisors GP, LLC, its general partner
  By:  

/s/ James D. Dondero

  Name:   James D. Dondero
  Title:   Sole Member

/s/ James D. Dondero

James D. Dondero

/s/ Nancy Marie Dondero

Nancy Marie Dondero

ANNEX 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, inclusive of any transactions effected through 4:00 p.m., New York City time, on April 14, 2017.

 

Date

  

Effected By

  

Nature of Transaction

   Quantity     Price  

2/21/2017

  

Highland Capital

  

Open Market Purchase

     21,360.76 (1)    $ 23.4074  

4/13/2017

  

Highland Capital

  

Open Market Purchase

     43,923.63 (1)    $ 24.7339  

 

(1) Shares acquired in connection with issuers dividend reinvestment plan. Under operation of the plan, monthly purchases are conducted by the plan administrator evenly over the course of approximately the first 20 days of the month.