0000950123-11-050968.txt : 20110517 0000950123-11-050968.hdr.sgml : 20110517 20110516174448 ACCESSION NUMBER: 0000950123-11-050968 CONFORMED SUBMISSION TYPE: 13F-HR/A PUBLIC DOCUMENT COUNT: 1 CONFORMED PERIOD OF REPORT: 20110331 FILED AS OF DATE: 20110517 DATE AS OF CHANGE: 20110516 EFFECTIVENESS DATE: 20110517 FILER: COMPANY DATA: COMPANY CONFORMED NAME: HIGHLAND CAPITAL MANAGEMENT LP CENTRAL INDEX KEY: 0001167365 IRS NUMBER: 752716725 STATE OF INCORPORATION: DE FISCAL YEAR END: 1231 FILING VALUES: FORM TYPE: 13F-HR/A SEC ACT: 1934 Act SEC FILE NUMBER: 028-10659 FILM NUMBER: 11849026 BUSINESS ADDRESS: STREET 1: 13455 NOEL ROAD STE 1300 CITY: DALLAS STATE: TX ZIP: 75240 BUSINESS PHONE: 9726284100 MAIL ADDRESS: STREET 1: 13455 NOEL ROAD STE 1300 CITY: DALLAS STATE: TX ZIP: 75240 13F-HR/A 1 d82370e13fvhrza.txt FORM 13F-HR/A UNITED STATES SECURITIES AND EXCHANGE COMMISSION WASHINGTON, D.C. 20549 FORM 13F FORM 13F COVER PAGE Report for the Calendar Year or Quarter Ended: March 31, 2011 Check here if Amendment [X]; Amendment Number: 1 This Amendment (Check only one.): [X] is a restatement. [ ] adds new holdings entries. Institutional Investment Manager Filing this Report: Name: Highland Capital Management, L.P. Address: 13455 Noel Rd, Suite 1710, Dallas, TX 75240 Form 13F File Number: 28-10659 The institutional investment manager filing this report and the person by whom it is signed hereby represent that the person signing the report is authorized to submit it, that all information contained herein is true, correct and complete, and that it is understood that all required items, statements, schedules, lists, and tables, are considered integral parts of this form. Person Signing this Report on Behalf of Reporting Manager: Name: James D. Dondero Title: President Phone: 972-628-4100 Signature, Place, and Date of Signing: /s/ James D. Dondero Dallas, Texas May 16, 2011 [Signature] [City, State] [Date] Report Type (Check only one.): [x] 13F HOLDINGS REPORT. (Check here if all holdings of this reporting manager are reported in this report.) [ ] 13F NOTICE. (Check here if no holdings reported are in this report, and all holdings are reported by other reporting manager(s).) [ ] 13F COMBINATION REPORT. (Check here if a portion of the holdings for this reporting manager are reported in this report and a portion are reported by other reporting manager(s).) FORM 13F SUMMARY PAGE Report Summary: Number of Other Included Managers: 2 Form 13F Information Table Entry Total: 157 Form 13F Information Table Value Total: 807,433 (thousands) List of Other Included Managers: Provide a numbered list of the name(s) and Form 13F file number(s) of all institutional investment managers with respect to which this report is filed, other than the manager filing this report.

No. Form 13F File Number Name _____ 28- ______________________ Cummings Bay Capital Management, L.P. _____ 28- ______________________ Tunstall Capital Management, L.P.

VALUE SHRS OR INVESTMENT OTHER VOTING AUTHORITY NAME OF ISSUER TITLE OF CLASS CUSIP (x$1000) PRN AMT SH/PRN PUT/CALL DISCRETION MANAGERS SOLE SHARED NONE ACADIA PHARMACEUTICALS INC COM 004225108 131 80886 SH OTHER 80886 ACORDA THERAPEUTICS INC COM 00484M106 807 34800 SH SOLE 34800 AETNA INC NEW COM 00817Y108 449 12000 SH OTHER 12000 AFFYMAX INC COM 00826A109 524 89245 SH OTHER 89245 AFLAC INC COM 001055102 1056 20000 SH SOLE 20000 AIRGAS INC COM 009363102 3819 57500 SH SOLE 57500 AIRGAS INC COM 009363102 3155 47500 SH OTHER 47500 ALEXCO RESOURCE CORP COM 01535P106 1432 161800 SH SOLE 161800 ALLIANCE DATA SYSTEMS CORP COM 018581108 4947 57600 SH SOLE 57600 ALLIANT TECHSYSTEMS INC COM 018804104 537 7600 SH SOLE 7600 ALLOS THERAPEUTICS INC COM 019777101 190 60000 SH OTHER 60000 AMARIN CORP PLC SPONS ADR NEW 023111206 443 60661 SH OTHER 60661 AMDOCS LTD ORD G02602103 1933 67000 SH SOLE 67000 AMERICAN AXLE & MFG HLDGS IN COM 024061103 3805 302200 SH SOLE 302200 AMERICAN EAGLE OUTFITTERS NE COM 02553E106 3293 207225 SH SOLE 207225 AMSURG CORP COM 03232P405 382 15000 SH OTHER 15000 ANADYS PHARMACEUTICALS INC COM 03252Q408 116 100000 SH OTHER 100000 AON CORP COM 037389103 6032 113900 SH SOLE 113900 APPLE INC COM 037833100 18053 51800 SH SOLE 51800 ARTHROCARE CORP COM 043136100 690 20698 SH OTHER 20698 ASCENA RETAIL GROUP INC COM 04351G101 5814 179400 SH SOLE 179400 AVNET INC COM 053807103 7135 209300 SH SOLE 209300 BAXTER INTL INC COM 071813109 741 13785 SH OTHER 13785 BEST BUY INC COM 086516101 317 11050 SH SOLE 11050 BIO RAD LABS INC CL A 090572207 721 6000 SH OTHER 6000 BLACKROCK INC COM 09247X101 8804 43800 SH SOLE 43800 BROADRIDGE FINL SOLUTIONS IN COM 11133T103 1974 87000 SH SOLE 87000 CALPINE CORP COM NEW 131347304 2174 136997 SH SOLE 136997 CAPITAL FED FINL INC COM 14057J101 2646 234800 SH SOLE 234800 CAPSTEAD MTG CORP COM NO PAR 14067E506 21241 1662069 SH SOLE 1662069 CARDINAL HEALTH INC COM 14149Y108 617 15000 SH OTHER 15000 CF INDS HLDGS INC COM 125269100 8467 61900 SH SOLE 61900 CHARMING SHOPPES INC COM 161133103 1163 272900 SH SOLE 272900 CIGNA CORP COM 125509109 708 16000 SH OTHER 16000 CISCO SYS INC COM 17275R102 249 14500 SH SOLE 14500 CITIGROUP INC COM 172967101 9976 2257000 SH SOLE 2257000 CLEARWIRE CORP NEW CL A 18538Q105 1997 357243 SH SOLE 357243 CLEVELAND BIOLABS INC COM 185860103 185 24669 SH OTHER 24669 COGNIZANT TECHNOLOGY SOLUTIO CL A 192446102 12661 155539 SH SOLE 155539 COMPLETE GENOMICS INC COM 20454K104 22529 2494866 SH SOLE 2626953

CONCEPTUS INC COM 206016107 362 25000 SH OTHER 25000 CONCHO RES INC COM 20605P101 6170 57501 SH SOLE 57501 CREXUS INVT CORP COM 226553105 2979 260900 SH SOLE 260900 DEERE & CO COM 244199105 9582 98900 SH SOLE 98900 DELL INC COM 24702R101 2024 139500 SH SOLE 139500 DELTA AIR LINES INC DEL COM NEW 247361702 922 94087 SH SOLE 94087 DIRECTV COM CL A 25490A101 7642 163300 SH SOLE 163300 DUPONT FABROS TECHNOLOGY INC COM 26613Q106 6746 278196 SH SOLE 278196 DYNAVAX TECHNOLOGIES CORP COM 268158102 968 350695 SH OTHER 350695 DYNEGY INC DEL COM 26817G300 998 175453 SH SOLE 175453 E M C CORP MASS COM 268648102 3734 140600 SH SOLE 140600 ENTERPRISE PRODS PARTNERS L COM 293792107 1365 31700 SH SOLE 31700 ENTRAVISION COMMUNICATIONS C CL A 29382R107 3612 1332712 SH SOLE 1332712 EPOCRATES INC COM 29429D103 297 15000 SH OTHER 15000 EQUINIX INC COM NEW 29444U502 23448 257388 SH SOLE 257388 ERESEARCHTECHNOLOGY INC COM 29481V108 353 52134 SH OTHER 52134 EXACT SCIENCES CORP COM 30063P105 367 50000 SH OTHER 50000 EXPEDIA INC DEL COM 30212P105 886 39100 SH SOLE 39100 EZCORP INC CL A NON VTG 302301106 5735 182700 SH SOLE 182700 FAIRPOINT COMMUNICATIONS INC COM NEW 305560302 3805 225538 SH SOLE 225538 FIDELITY NATL INFORMATION SV COM 31620M106 7408 226600 SH SOLE 226600 GARMIN LTD SHS H2906T109 2776 81983 SH SOLE 81983 GENERAL ELECTRIC CO COM 369604103 6248 311600 SH SOLE 311600 GRAY TELEVISION INC CL A 389375205 35 18000 SH SOLE 18000 HALOZYME THERAPEUTICS INC COM 40637H109 258 38428 SH OTHER 38428 HANSEN MEDICAL INC COM 411307101 265 120000 SH OTHER 120000 HARRIS CORP DEL COM 413875105 556 11200 SH SOLE 11200 HCA HOLDINGS INC COM 40412C101 226 6674 SH SOLE 6674 HCA HOLDINGS INC COM 40412C101 1351 39879 SH OTHER 39879 HEALTH MGMT ASSOC INC NEW CL A 421933102 1555 142644 SH OTHER 142644 HEALTHSPRING INC COM 42224N101 910 24364 SH OTHER 24364 HERTZ GLOBAL HOLDINGS INC COM 42805T105 4689 300000 SH SOLE 300000 HEWLETT PACKARD CO COM 428236103 2396 58475 SH SOLE 58475 HIGHLAND CR STRATEGIES FD COM 43005Q107 4748 632267 SH SOLE 632267 HILLTOP HOLDINGS INC COM 432748101 507 50545 SH SOLE 50545 HOSPITALITY PPTYS TR COM SH BEN INT 44106M102 3211 138700 SH SOLE 138700 ICO GLOBAL COMM HLDGS LTD DE CL A 44930K108 114727 42968965 SH SOLE 42968965 ICONIX BRAND GROUP INC COM 451055107 5048 235000 SH SOLE 235000 IDENIX PHARMACEUTICALS INC COM 45166R204 199 60000 SH OTHER 60000 IESI BFC LTD COM 44951D108 1385 54600 SH SOLE 54600 INSULET CORP COM 45784P101 412 20000 SH OTHER 20000 INTERMUNE INC COM 45884X103 783 16588 SH OTHER 16588 ISHARES INC MSCI JAPAN 464286848 1784 173000 SH SOLE 173000 ISHARES INC MSCI SINGAPORE 464286673 1053 77000 SH SOLE 77000 K V PHARMACEUTICAL CO CL A 482740206 195 32543 SH OTHER 32543 KANSAS CITY SOUTHERN COM NEW 485170302 9948 182700 SH SOLE 182700 KENDLE INTERNATIONAL INC COM 48880L107 432 40353 SH OTHER 40353 KINETIC CONCEPTS INC COM NEW 49460W208 663 12182 SH OTHER 12182 LIFE TIME FITNESS INC COM 53217R207 10171 272600 SH SOLE 272600 LIFEPOINT HOSPITALS INC COM 53219L109 698 17361 SH OTHER 17361 LILLY ELI & CO COM 532457108 1020 29000 SH SOLE 29000 LOCKHEED MARTIN CORP COM 539830109 4309 53600 SH SOLE 53600 LORAL SPACE & COMMUNICATNS I COM 543881106 114184 1472396 SH SOLE 1472396 LYONDELLBASELL INDUSTRIES N SHS - A - N53745100 70518 1783008 SH SOLE 1783008 MAGNACHIP SEMICONDUCTOR CORP DEPOSITARY SHS 55933J203 1265 91991.875 SH SOLE 91991.875 MASIMO CORP COM 574795100 539 16282 SH OTHER 16282 MBIA INC COM 55262C100 805 80200 SH SOLE 80200 MCKESSON CORP COM 58155Q103 19233 243300 SH SOLE 243300 MEDNAX INC COM 58502B106 2098 31500 SH SOLE 31500 METROPCS COMMUNICATIONS INC COM 591708102 11259 693300 SH SOLE 693300 MICROS SYS INC COM 594901100 7662 155000 SH SOLE 155000 MICROVISION INC DEL COM 594960106 4817 3649326 SH SOLE 3649326 MICROVISION INC DEL *W EXP 07/23/201 594960163 1451 3218884 SH SOLE 3218884 MONOLITHIC PWR SYS INC COM 609839105 4756 335200 SH SOLE 335200 MYLAN INC COM 628530107 1502 66300 SH SOLE 66300 MYLAN INC COM 628530107 1471 64906 SH OTHER 64906 MYREXIS INC COM 62856H107 1115 289702 SH OTHER 289702 NATIONAL CINEMEDIA INC COM 635309107 990 53000 SH SOLE 53000 NATIONAL CINEMEDIA INC COM 635309107 244 13090 SH OTHER 13090 NATIONAL SEMICONDUCTOR CORP COM 637640103 544 37965 SH SOLE 37965 NAVISTAR INTL CORP NEW COM 63934E108 11682 168500 SH SOLE 168500 NCR CORP NEW COM 62886E108 13090 694800 SH SOLE 694800 NPS PHARMACEUTICALS INC COM 62936P103 769 80316 SH OTHER 80316 NRG ENERGY INC COM NEW 629377508 3440 159700 SH SOLE 159700 ONCOTHYREON INC COM 682324108 467 120781 SH OTHER 120781 PACIFIC CAP BANCORP NEW COM NEW 69404P200 8517 287338.87 SH SOLE 287338.87 PERKINELMER INC COM 714046109 531 20229 SH OTHER 20229 PHC INC MASS CL A 693315103 264 100026 SH OTHER 100026 PIONEER NAT RES CO COM 723787107 5259 51600 SH SOLE 51600 PROSHARES TR SHRT RUSSL2000 74347X690 432 25000 SH OTHER 25000 PROSHARES TR II ULTRASHRT EURO 74347W882 4264 238898 SH SOLE 238898 PROSHARES TR II ULTRASHORT YEN 74347W858 2839 174500 SH SOLE 174500 PROTECTIVE LIFE CORP COM 743674103 3560 134100 SH SOLE 134100 PSIVIDA CORP COM 74440J101 260 66400 SH OTHER 66400 QUEST DIAGNOSTICS INC COM 74834L100 611 10577 SH OTHER 10577 QUICKSILVER RESOURCES INC COM 74837R104 970 67800 SH SOLE 67800 RADIENT PHARMACEUTICALS CORP COM 750341109 22 39749 SH OTHER 39749 RAPTOR PHARMACEUTICAL CORP COM 75382F106 771 223600 SH OTHER 223600 RAYTHEON CO COM NEW 755111507 1490 29300 SH SOLE 29300 REGAL ENTMT GROUP CL A 758766109 3476 257500 SH SOLE 257500 ROSETTA RESOURCES INC COM 777779307 7458 156700 SH SOLE 156700 ROVI CORP COM 779376102 7716 143830 SH SOLE 143830 RTI INTL METALS INC COM 74973W107 666 21387 SH SOLE 21387 SANTARUS INC COM 802817304 537 156914 SH OTHER 156914 SEAGATE TECHNOLOGY PLC SHS G7945M107 1513 105000 SH SOLE 105000 SEQUENOM INC COM NEW 817337405 254 40000 SH OTHER 40000 SM ENERGY CO COM 78454L100 2582 34800 SH SOLE 34800 SOLUTIA INC COM NEW 834376501 5195 204523 SH SOLE 204523 SPANSION INC COM CL A NEW 84649R200 7436 398300 SH SOLE 398300 SPIRIT AEROSYSTEMS HLDGS INC COM CL A 848574109 4333 168800 SH SOLE 168800 STAR SCIENTIFIC INC COM 85517P101 92 20339 SH OTHER 20339 TARGACEPT INC COM 87611R306 360 13530 SH OTHER 13530 TEMPUR PEDIC INTL INC COM 88023U101 2513 49611 SH SOLE 49611 TEVA PHARMACEUTICAL INDS LTD ADR 881624209 602 12000 SH OTHER 12000 THRESHOLD PHARMACEUTICAL INC COM NEW 885807206 398 258549 SH OTHER 258549 TORCHMARK CORP COM 891027104 1662 25000 SH SOLE 25000 TOWERS WATSON & CO CL A 891894107 6173 111300 SH SOLE 111300 UNITED THERAPEUTICS CORP DEL COM 91307C102 295 4407 SH OTHER 4407 UROPLASTY INC COM NEW 917277204 540 81700 SH OTHER 81700 VALMONT INDS INC COM 920253101 2421 23200 SH SOLE 23200 VERTEX PHARMACEUTICALS INC COM 92532F100 374 7809 SH OTHER 7809 VOLCANO CORPORATION COM 928645100 469 18319 SH OTHER 18319 WEIGHT WATCHERS INTL INC NEW COM 948626106 2643 37700 SH SOLE 37700 WELLCARE HEALTH PLANS INC COM 94946T106 888 21177 SH OTHER 21177 WESTERN DIGITAL CORP COM 958102105 3065 82201 SH SOLE 82201 WESTERN UN CO COM 959802109 12148 584900 SH SOLE 584900 XOMA LTD SHS G9825R206 136 48747 SH OTHER 48747