Highland Capital Management, L.P. (Dallas)

Name: Highland Capital Management, L.P.
Address: 300 Crescent Court, Dallas, TX, 75201
Telephone: 972-628-4100

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.

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. The adviser charges an additional fee when a set benchmark is outperformed. 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/.