SEC Form 4
FORM 4 UNITED STATES SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549

STATEMENT OF CHANGES IN BENEFICIAL OWNERSHIP

Filed pursuant to Section 16(a) of the Securities Exchange Act of 1934
or Section 30(h) of the Investment Company Act of 1940
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Check this box if no longer subject to Section 16. Form 4 or Form 5 obligations may continue. See Instruction 1(b).
1. Name and Address of Reporting Person*
HIGHLAND CAPITAL MANAGEMENT LP

(Last) (First) (Middle)
300 CRESCENT COURT, SUITE 700

(Street)
DALLAS TX 75201

(City) (State) (Zip)
2. Issuer Name and Ticker or Trading Symbol
NexPoint Credit Strategies Fund [ NHF ]
5. Relationship of Reporting Person(s) to Issuer
(Check all applicable)
Director 10% Owner
Officer (give title below) X Other (specify below)
See Remarks
3. Date of Earliest Transaction (Month/Day/Year)
11/03/2014
4. If Amendment, Date of Original Filed (Month/Day/Year)
6. Individual or Joint/Group Filing (Check Applicable Line)
Form filed by One Reporting Person
X Form filed by More than One Reporting Person
Table I - Non-Derivative Securities Acquired, Disposed of, or Beneficially Owned
1. Title of Security (Instr. 3) 2. Transaction Date (Month/Day/Year) 2A. Deemed Execution Date, if any (Month/Day/Year) 3. Transaction Code (Instr. 8) 4. Securities Acquired (A) or Disposed Of (D) (Instr. 3, 4 and 5) 5. Amount of Securities Beneficially Owned Following Reported Transaction(s) (Instr. 3 and 4) 6. Ownership Form: Direct (D) or Indirect (I) (Instr. 4) 7. Nature of Indirect Beneficial Ownership (Instr. 4)
Code V Amount (A) or (D) Price
Common Stock 11/03/2014 P 7,380 A $10.9104 1,351,447.43(1) D
Common Stock 64,891.08(2) D
Common Stock 133,638.06 I By trust
Common Stock 26,743.98(3) I By PCMG Trading Partners XXIII, L.P.
Common Stock 4,192,142.22 I By trust
Common Stock 661,581(4) I By Highland CDO Holding Company
Common Stock 582(5) I By Highland Equity Focus Fund, L.P.
Common Stock 11,936(6) I By Highland Capital Management Services, Inc.
Common Stock 173,352.29(7) I By Governance Re, Ltd.
Table II - Derivative Securities Acquired, Disposed of, or Beneficially Owned
(e.g., puts, calls, warrants, options, convertible securities)
1. Title of Derivative Security (Instr. 3) 2. Conversion or Exercise Price of Derivative Security 3. Transaction Date (Month/Day/Year) 3A. Deemed Execution Date, if any (Month/Day/Year) 4. Transaction Code (Instr. 8) 5. Number of Derivative Securities Acquired (A) or Disposed of (D) (Instr. 3, 4 and 5) 6. Date Exercisable and Expiration Date (Month/Day/Year) 7. Title and Amount of Securities Underlying Derivative Security (Instr. 3 and 4) 8. Price of Derivative Security (Instr. 5) 9. Number of derivative Securities Beneficially Owned Following Reported Transaction(s) (Instr. 4) 10. Ownership Form: Direct (D) or Indirect (I) (Instr. 4) 11. Nature of Indirect Beneficial Ownership (Instr. 4)
Code V (A) (D) Date Exercisable Expiration Date Title Amount or Number of Shares
1. Name and Address of Reporting Person*
HIGHLAND CAPITAL MANAGEMENT LP

(Last) (First) (Middle)
300 CRESCENT COURT, SUITE 700

(Street)
DALLAS TX 75201

(City) (State) (Zip)
1. Name and Address of Reporting Person*
DONDERO JAMES D

(Last) (First) (Middle)
300 CRESCENT COURT, SUITE 700

(Street)
DALLAS TX 75201

(City) (State) (Zip)
Explanation of Responses:
1. These shares are directly held by Highland Capital Management, L.P. ("HCMLP"). Mr. Dondero is the President and the director of Strand Advisors, Inc., HCMLP's general partner, and may be deemed to be an indirect beneficial owner of shares held by HCMLP. Mr. Dondero disclaims beneficial ownership of such shares except to the extent of his pecuniary interest therein.
2. These shares are directly held by Mr. Dondero.
3. These shares are directly held by PCMG Trading Partners XXIII, L.P. ("PCMG"). Mr. Dondero is the President of Strand Advisors III Inc., PCMG's General Partner, and may be deemed to be an indirect beneficial owner of shares held by PCMG. Mr. Dondero disclaims such beneficial ownership of such shares except to the extent of his pecuniary interest therein.
4. These shares are directly held by Highland CDO Holding Company ("HCDO"). HCMLP is the investment adviser of HCDO. Mr. Dondero is the President and the director of Strand Advisors, Inc., HCMLP's general partner, and may be deemed to be an indirect beneficial owner of shares held by HCDO. Mr. Dondero disclaims beneficial ownership of such shares except to the extent of his pecuniary interest therein.
5. These shares are directly held by Highland Equity Focus Fund, L.P. ("HEFF"). HCMLP is the investment adviser of HEFF. Mr. Dondero is the President and the director of Strand Advisors, Inc., HCMLP's general partner, and may be deemed to be an indirect beneficial owner of shares held by HEFF. Mr. Dondero disclaims beneficial ownership of such shares except to the extent of his pecuniary interest therein.
6. These shares are directly held by Highland Capital Management Services, Inc. ("HCMSI"). Mr. Dondero is the President of HCMSI and may be deemed to be the indirect beneficial owner of the shares held by HCMSI. Mr. Dondero disclaims beneficial ownership of such shares except to the extent of his pecuniary interest therein.
7. These shares are directly held by Governance Re, Ltd. ("Governance"). Mr. Dondero is the President of HCMSI, which is the sole member of Thread 55, LLC, which is the sole shareholder of Governance, Ltd., which is the sole shareholder of Governance, and may be deemed to be an indirect beneficial owner of shares held by Governance. Mr. Dondero disclaims beneficial ownership of such shares except to the extent of his pecuniary interest therein.
Remarks:
Investment Advisor and Affiliated Person The Reporting Persons inadvertently reported the incorrect number of securities beneficially owned by them on a Form 4 previously filed with the Securities and Exchange Commission. The amounts reported herein reflect the number of shares beneficially owned by the Reporting Persons as of the date of this filing after taking into account each of the transactions listed herein.
/s/ James D. Dondero, President 11/05/2014
/s/ James D. Dondero 11/05/2014
** Signature of Reporting Person Date
Reminder: Report on a separate line for each class of securities beneficially owned directly or indirectly.
* If the form is filed by more than one reporting person, see Instruction 4 (b)(v).
** Intentional misstatements or omissions of facts constitute Federal Criminal Violations See 18 U.S.C. 1001 and 15 U.S.C. 78ff(a).
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