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Highland Capital Management, L.P. (Dallas)


Highland Capital Management, L.P. is a large advisory firm based in Dallas. It manages $5.47 billion of regulatory assets for 43 client accounts. It has been registered with the SEC as an adviser since 2005 and has operated in the jurisdiction of Texas.

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Highland Capital Management provides portfolio management for pooled investment vehicles and portfolio management for businesses and institutional clients. It doesn't provide financial planning services to its clients. On top of advisory services, the firm doesn't engage in other business activities.

Highland Capital Management: assets under management

The assets under management (AUM) of Highland Capital Management, L.P. is $5.47 billion. The firm's AUM has gone down by -54% since the beginning of its operation, and $3.18 billion of the total AUM is attributable to clients outside of the United States.


The firm manages $3.88 billion in discretionary accounts and $1.58 billion in non-discretionary accounts. On average, the discretionary accounts where all decisions are made on behalf of the client hold $94.69 million each. Non-discretionary accounts, where clients actively manage their portfolios, generally hold around $792.09 million.
Highland Capital Management has custody of $831.64 million in cash and securities for 8 clients in total and its related person acts as a qualified custodian.

Investments

The firm invests in other assets the most. They account for 63% of the total AUM. The second-largest asset type is government bonds, which make up 23% of the firm’s portfolio. Investments in exchange traded securities form 7% of the total invested assets.

Fees & Commissions

The advisory firm has several streams of revenue. Clients pay Highland Capital Management, L.P. for their services and products based on a percentage of assets under management and performance-based fees. Compensation based on assets under management promotes a long-term relationship between a client and the adviser and helps align mutual interests. These fees don’t include brokerage commissions, interest, taxes, and other account expenses.

What kind of clients James David Dondero serves?

The firm provides services to pooled investment vehicles and state or municipal government entities. The largest group of clients of James David Dondero is pooled investment vehicles with 38 clients and $3.4 billion of assets under management. Among the 11 most similar advisory firms, Highland Capital Management has the 4th lowest percentage of pooled investment vehicles out of all clients.


The amount of regulatory assets under management is $3.88 billion for 41 clients. 58% of the firm’s clients are foreign persons or businesses.

Highland Capital Management also advises several private funds. Namely, four hedge funds, three private equity funds, and two securitized asset funds. The minimum investment commitment required of non-related persons ranges from $0 to $10,000,000.

Careers at Highland Capital Management, L.P.

The company employs 102 people that are either part- or full-time employees. 26 percent of the employees work as investment advisers or researchers. 2 employees are registered as investment adviser representatives with the state securities authorities.

There are 5 people with the role of looking for and bringing in new clients on behalf of the firm. The firm compensates employees in addition to the salary for bringing in new clients. Employees don’t receive compensation from other entities for client referrals.

James David Dondero has been acting as President since 1 Apr 1993. Hunter Mountain Investment Trust joined the executive team most recently as the Limited Partner.

Direct owners and executive officers



Name Entity Date acquired Ownership Employer ID
Mark Kiyoshi Okada Chief investment officer, limited partner 1 Apr 1993 Other 2477897
James David Dondero President 1 Apr 1993 Other 2477893
Mark Okada Executive vice president, limited partner 1 Apr 1993 25% - 50% 2477897
Inc. Strand Advisors General partner 1 Jul 1997 Other 995-4440863
Todd Travers Senior portfolio manager 1 Jan 1998 Other 2976543
Bradford Keith Borud Senior trader 1 Feb 2001 Other 5023546
Paul Duane Kauffman Senior trader 1 Feb 2001 Other 5023723
Raymond Joseph Dougherty Senior portfolio manager 1 Feb 2001 Other 5023647
Patrick Hagaman Daugherty Senior portfolio manager 1 Feb 2001 Other 5023535
Mark And Pamela Okada Family Trust Exempt Descendants' Trust Trust, limited partner 1 Jun 2002 Other 74-6494106
Lawrence Nathan Tonomura Trustee for the mark and pamela okada family trust - exempt descendants trust 1 Jun 2002 Other 4429742
The Get Better Trust Limited partner 1 Jun 2002 25% - 50% xxx-xx-xxxx
James David Dondero Trustee 1 Jun 2002 Other 2477893
The Get Good Trust Limited partner 1 Jun 2002 Other 75-6601385
The Canis Minor Trust Limited partner 1 Jun 2002 Other xxx-xx-xxxx
The Canis Major Trust Limited partner 1 Jun 2002 Other xxx-xx-xxxx
Grant James Scott Trustee for the get good trust 1 Jun 2002 Other 5393940
John Saxton Morgan Senior portfolio manager 1 Jan 2003 Other 5023989
Kurtis Stephen Plumer Senior portfolio manager 1 Jan 2003 Other 2205124
John Francis Yang Head of business development 1 May 2003 Other 1836254
Todd Allan Travers Head of structured products, limited partner 1 Feb 2004 Other 2976543
Bradford Keith Borud Senior trader, co-director of portfolio management, limited partner 1 Feb 2004 Other 5023546
Paul Duane Kauffman Limited partner, senior trader, co-director of portfolio management 1 Feb 2004 Other 5023723
David Barnum Walls Senior portfolio manager, limited partner 1 Feb 2004 Other 2222217
John Saxton Morgan Limited partner, senior portfolio manager 1 Feb 2004 Other 5023989
Kurtis Stephen Plumer Head of multi-strategies investments, limited partner 1 Feb 2004 Other 2205124
Raymond Joseph Dougherty Head of retail products, limited partner 1 Feb 2004 Other 5023647
Patrick Hagaman Daugherty Head of special situations investing, limited partner 1 Feb 2004 Other 5023535
John Francis Yang Head of business development, limited partner 1 Feb 2004 Other 1836254
David Barnum Walls Senior portfolio manager 1 Apr 2004 Other 2222217
Michael Minces Chief compliance officer 1 Aug 2004 Other 3106537
David Lancelot Chief financial officer 1 Sep 2004 Other 4884495
David Wayne Lancelot Chief financial officer 1 Sep 2004 Other 4884495
James Brett Pope Senior portfolio manager 1 Jan 2005 Other 2638521
James Brett Pope Senior portfolio manager, limited partner 1 Feb 2005 Other 2638521
Joseph Kevin Ciavarra General counsel 1 Feb 2006 Other 5122055
Chad Allen Schramek Chief operating officer 1 Feb 2006 Other 5122865
John William Honis Senior portfolio manager 1 Oct 2006 Other 5316024
Patrick Martin Conner Senior portfolio manager 1 Oct 2006 Other 5023513
John William Honis Head of private equity, limited partner 1 Feb 2007 Other 5316024
Patrick Martin Conner Senior portfolio manager, limited partner 1 Feb 2007 Other 5023513
Michael Sherman Colvin General counsel, chief compliance officer 1 Jun 2007 Other 5393497
Kenneth Sean Mcgovern Chief financial officer 1 Jul 2007 Other 1707591
The Get Good Non Exempt Trust No. 1 Trust, limited partner 1 Nov 2007 25% - 50% xxx-xx-xxxx
The Get Good Non Exempt Trust No. 2 Trust, limited partner 1 Nov 2007 Other xxx-xx-xxxx
Kenneth Sean Mcgovern Chief risk officer 1 Jun 2008 Other 1707591
Patrick Glenn Boyce Chief financial officer 1 Jun 2008 Other 3091924
Kevin Richard Latimer Partner 1 Jul 2008 Other 2561721
Mark And Pamela Okada Family Trust Exempt Trust 2 Limited partner 1 Feb 2009 Other 68-6203494
Michael Joseph Pusateri Chief technology officer 1 Feb 2009 Other 5644373
Amit Kumar Walia Limited partner 1 Feb 2009 Other 5023930
Gregory John Stuecheli Limited partner 1 Feb 2009 Other 5023763
Brad Wayne Means Limited partner 1 Feb 2009 Other 5644402
Mark And Pamela Okada Family Trust Exempt Descendants' Turst Limited partner 1 Feb 2009 Other 74-6494106
Inc. Highland Capital Management Services Limited partner 1 Jul 2009 Other 75-2911984
Matthew Steven Okolita Chief compliance officer 1 May 2010 Other 4939522
William Lane Britain Limited partner 1 Jul 2010 Other 4236779
Scott Byron Ellington Chief legal officer and general counsel 1 Feb 2011 Other 5907639
Joshua Neil Terry Assistant secretary 1 Jul 2011 Other 4686823
Thomas Joseph Surgent Chief compliance officer 1 Oct 2011 Other 5983586
Thomas Surgent Chief compliance officer 1 Oct 2011 Other 5983586
The Dugaboy Investment Trust Limited partner 1 Dec 2011 50% - 75% 75-2716725
Frank George Waterhouse Chief financial officer 1 Feb 2012 Other 2960256
Lee Blackwell Parker Assistant secretary 1 Aug 2015 Other 3147084
Hunter Mountain Investment Trust Limited partner 1 Dec 2015 75% - 100% 47-5145562

Indirect Owners

The SEC currently registers 7 indirect owners.

Name Entity Date acquired Ownership Employer ID
James Dondero President, shareholder 1 Apr 1993 75% - 100% 2477893
James David Dondero Director/shareholder 1 Jul 1997 Other 2477893
Lawrence Nathan Tonomura Trustee 1 Feb 2009 75% - 100% 4429742
James David Dondero Trustee 1 Dec 2011 75% - 100% 2477893
Grant James Scott Trustee 1 Aug 2015 75% - 100% 5393940
Nancy Marie Dondero Trustee 1 Oct 2015 75% - 100% 6570440
John William Honis Trustee 1 Dec 2015 75% - 100% 5316024

Based in Dallas

The principal office where Highland Capital Management, L.P. performs its advisory services is located at 300 Crescent Court, Dallas, TX 75201, which is also the mailing address of the firm. It doesn’t run an office outside of the United States.

You can reach the main office by calling the phone number 972-628-4100 or by fax 972-628-4147. The normal business hours are 7:00am-6:00pm on Monday - Friday. You can find more information about the New York firm at highlandcapital.com/.


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