UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, D.C. 20549
FORM N-PX
ANNUAL REPORT OF PROXY VOTING RECORD OF REGISTERED MANAGEMENT INVESTMENT
COMPANY
INVESTMENT COMPANY ACT FILE NUMBER: 811-21869
NAME OF REGISTRANT: Highland Credit Strategies
Fund
ADDRESS OF PRINCIPAL EXECUTIVE OFFICES: NexBank Tower
13455 Noel Road, Suite 800
Dallas, TX 75240
NAME AND ADDRESS OF AGENT FOR SERVICE: R. Joseph Dougherty, President
Highland Capital Management, L.P.
NexBank Tower
13455 Noel Road, Suite 800
Dallas, TX 75240
REGISTRANT'S TELEPHONE NUMBER: 877-665-1287
DATE OF FISCAL YEAR END: 12/31
DATE OF REPORTING PERIOD: 07/01/2010 - 06/30/2011
HCF- Highland Credit Strategies Fund
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DELTA AIR LINES, INC. Agenda Number: 933454047
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Security: 247361702
Meeting Type: Annual
Meeting Date: 30-Jun-2011
Ticker: DAL
ISIN: US2473617023
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Prop.# Proposal Proposal Proposal Vote For/Against
Type Management
1A ELECTION OF DIRECTOR: RICHARD H. ANDERSON Mgmt Abstain Against
1B ELECTION OF DIRECTOR: EDWARD H. BASTIAN Mgmt Abstain Against
1C ELECTION OF DIRECTOR: ROY J. BOSTOCK Mgmt Abstain Against
1D ELECTION OF DIRECTOR: JOHN S. BRINZO Mgmt Abstain Against
1E ELECTION OF DIRECTOR: DANIEL A. CARP Mgmt Abstain Against
1F ELECTION OF DIRECTOR: JOHN M. ENGLER Mgmt Abstain Against
1G ELECTION OF DIRECTOR: MICKEY P. FORET Mgmt Abstain Against
1H ELECTION OF DIRECTOR: DAVID R. GOODE Mgmt Abstain Against
1I ELECTION OF DIRECTOR: PAULA ROSPUT REYNOLDS Mgmt Abstain Against
1J ELECTION OF DIRECTOR: KENNETH C. ROGERS Mgmt Abstain Against
1K ELECTION OF DIRECTOR: KENNETH B. WOODROW Mgmt Abstain Against
02 TO APPROVE, ON AN ADVISORY BASIS, THE COMPENSATION Mgmt Abstain Against
OF DELTA'S NAMED EXECUTIVE OFFICERS.
03 TO RECOMMEND, ON AN ADVISORY BASIS, THE FREQUENCY Mgmt Abstain Against
OF FUTURE ADVISORY VOTES ON EXECUTIVE COMPENSATION.
04 TO RATIFY THE APPOINTMENT OF ERNST & YOUNG LLP Mgmt Abstain Against
AS DELTA'S INDEPENDENT AUDITORS FOR THE YEAR
ENDING DECEMBER 31, 2011.
05 STOCKHOLDER PROPOSAL REGARDING CUMULATIVE VOTING Shr Abstain Against
IN THE ELECTION OF DIRECTORS.
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GRAY TELEVISION INC Agenda Number: 933431443
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Security: 389375205
Meeting Type: Annual
Meeting Date: 01-Jun-2011
Ticker: GTNA
ISIN: US3893752051
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Prop.# Proposal Proposal Proposal Vote For/Against
Type Management
01 DIRECTOR
RICHARD L. BOGER Mgmt For For
RAY M. DEAVER Mgmt For For
T.L. ELDER Mgmt For For
HILTON H. HOWELL, JR. Mgmt For For
WILLIAM E. MAYHER, III Mgmt For For
ZELL B. MILLER Mgmt For For
HOWELL W. NEWTON Mgmt For For
HUGH E. NORTON Mgmt For For
ROBERT S. PRATHER, JR. Mgmt For For
HARRIETT J. ROBINSON Mgmt For For
J. MACK ROBINSON Mgmt For For
02 TO APPROVE, BY NON-BINDING VOTE, EXECUTIVE COMPENSATION. Mgmt For For
03 TO RECOMMEND, BY NON-BINDING VOTE, THE FREQUENCY Mgmt 1 Year Against
OF EXECUTIVE COMPENSATION VOTES.
04 TO RATIFY THE APPOINTMENT OF MCGLADREY & PULLEN, Mgmt For For
LLP AS INDEPENDENT REGISTERED PUBLIC ACCOUNTING
FIRM FOR 2011.
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ICO GLOBAL COMMUNICATIONS (HLDG.) LTD. Agenda Number: 933342773
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Security: 44930K108
Meeting Type: Annual
Meeting Date: 13-Dec-2010
Ticker: ICOG
ISIN: US44930K1088
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Prop.# Proposal Proposal Proposal Vote For/Against
Type Management
1 DIRECTOR
RICHARD P. EMERSON Mgmt For For
RICHARD P. FOX Mgmt For For
NICOLAS KAUSER Mgmt For For
CRAIG O. MCCAW Mgmt For For
BARRY L. ROWAN Mgmt For For
R. GERARD SALEMME Mgmt For For
STUART M. SLOAN Mgmt For For
H. BRIAN THOMPSON Mgmt For For
BENJAMIN G. WOLFF Mgmt For For
2 RATIFICATION OF THE SELECTION BY THE AUDIT COMMITTEE Mgmt For For
OF THE BOARD OF DIRECTORS OF THE INDEPENDENT
REGISTERED PUBLIC ACCOUNTING FIRM OF DELOITTE
& TOUCHE LLP AS INDEPENDENT AUDITOR
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ICO GLOBAL COMMUNICATIONS (HLDG.) LTD. Agenda Number: 933443753
--------------------------------------------------------------------------------------------------------------------------
Security: 44930K108
Meeting Type: Annual
Meeting Date: 14-Jun-2011
Ticker: ICOG
ISIN: US44930K1088
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Prop.# Proposal Proposal Proposal Vote For/Against
Type Management
01 DIRECTOR
RICHARD P. EMERSON Mgmt For For
RICHARD P. FOX Mgmt For For
NICOLAS KAUSER Mgmt For For
CRAIG O. MCCAW Mgmt Withheld Against
R. GERARD SALEMME Mgmt For For
STUART M. SLOAN Mgmt For For
H. BRIAN THOMPSON Mgmt For For
BENJAMIN G. WOLFF Mgmt For For
02 APPROVAL OF AN ADVISORY (NON-BINDING) RESOLUTION Mgmt Against Against
ON EXECUTIVE COMPENSATION.
03 TO RECOMMEND, BY NON-BINDING VOTE, THE FREQUENCY Mgmt 1 Year For
OF EXECUTIVE COMPENSATION VOTES.
04 RATIFICATION OF THE SELECTION OF THE INDEPENDENT Mgmt For For
REGISTERED PUBLIC ACCOUNTING FIRM OF DELOITTE
& TOUCHE LLP AS INDEPENDENT AUDITOR OF THE
COMPANY FOR ITS FISCAL YEAR ENDING DECEMBER
31, 2011.
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MOLECULAR INSIGHT PHARMACEUTICALS INC. Agenda Number: 933401832
--------------------------------------------------------------------------------------------------------------------------
Security: 60852MAA2
Meeting Type: Consent
Meeting Date: 25-Apr-2011
Ticker:
ISIN: US60852MAA27
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Prop.# Proposal Proposal Proposal Vote For/Against
Type Management
01 TO ACCEPT THE PLAN Mgmt For
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NEW HOLDING, INC. Agenda Number: 933323141
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Security: 645287103
Meeting Type: Consent
Meeting Date: 10-Sep-2010
Ticker:
ISIN:
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Prop.# Proposal Proposal Proposal Vote For/Against
Type Management
01 COTTON WOOD TRANSACTION Mgmt No vote
02 COMPANY STOCK AGREEMENT Mgmt No vote
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NEW HOLDING, INC. Agenda Number: 933323557
--------------------------------------------------------------------------------------------------------------------------
Security: 645287AA1
Meeting Type: Consent
Meeting Date: 10-Sep-2010
Ticker:
ISIN: US645287AA12
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Prop.# Proposal Proposal Proposal Vote For/Against
Type Management
01 A) WAIVE THE APPLICABLE COVENANTS IN THE INDENTURE Mgmt No vote
TO PERMIT THE COTTONWOOD TRANSACTION AND (B)
WAIVE ANY DEFAULTS OR EVENTS OF DEFAULT, IF
ANY, EXISTING AS OF THE CONSENT DATE (OTHER
THAN THE DEFAULTS AND EVENT OF DEFAULT SET
FORTH IN PROPOSAL TWO) OR THAT WOULD OTHERWISE
EXIST OR ARISE IN CONNECTION WITH, OR AS A
RESULT OF, THE COTTONWOOD TRANSACTION.
02 (A) WAIVE THE REQUIREMENT TO PROVIDE THE FINANCIAL Mgmt No vote
STATEMENTS TO THE TRUSTEE WITHIN THE TIME PERIOD
SPECIFIED IN THE INDENTURE, AND (B) WAIVE THE
EXISTING EVENT OF DEFAULT UNDER THE INDENTURE
RESULTING FROM THE ACCELERATION OF, AND SEIZURE
OF COLLATERAL TO SATISFY, THE OUTSTANDING AMOUNTS
UNDER THE LOAN AGREEMENT.
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OWENS CORNING Agenda Number: 933383820
--------------------------------------------------------------------------------------------------------------------------
Security: 690742101
Meeting Type: Annual
Meeting Date: 14-Apr-2011
Ticker: OC
ISIN: US6907421019
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Prop.# Proposal Proposal Proposal Vote For/Against
Type Management
01 DIRECTOR
GASTON CAPERTON Mgmt For For
ANN IVERSON Mgmt For For
JOSEPH F. NEELY Mgmt For For
02 TO RATIFY THE SELECTION OF PRICEWATERHOUSECOOPERS Mgmt For For
LLP AS OUR INDEPENDENT REGISTERED PUBLIC ACCOUNTING
FIRM FOR 2011.
03 TO APPROVE THE CORPORATE INCENTIVE PLAN. Mgmt For For
04 TO CONSIDER AN ADVISORY VOTE ON COMPENSATION Mgmt For For
OF OUR NAMED EXECUTIVE OFFICERS.
05 TO CONSIDER AN ADVISORY VOTE ON THE FREQUENCY Mgmt 1 Year For
OF THE ADVISORY VOTE ON COMPENSATION OF OUR
NAMED EXECUTIVE OFFICERS.
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SALLY BEAUTY HOLDINGS, INC. Agenda Number: 933358702
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Security: 79546E104
Meeting Type: Annual
Meeting Date: 28-Jan-2011
Ticker: SBH
ISIN: US79546E1047
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Prop.# Proposal Proposal Proposal Vote For/Against
Type Management
01 DIRECTOR
KATHLEEN J. AFFELDT Mgmt For For
WALTER L. METCALFE, JR. Mgmt For For
EDWARD W. RABIN Mgmt For For
GARY G. WINTERHALTER Mgmt For For
02 RATIFICATION OF THE SELECTION OF KPMG LLP AS Mgmt For For
THE CORPORATION'S INDEPENDENT REGISTERED PUBLIC
ACCOUNTING FIRM FOR THE FISCAL YEAR 2011.
03 APPROVAL OF THE COMPENSATION OF THE CORPORATION'S Mgmt For For
EXECUTIVE OFFICERS INCLUDING THE CORPORATION'S
COMPENSATION PRACTICES AND PRINCIPLES AND THEIR
IMPLEMENTATION.
04 FREQUENCY OF ADVISORY VOTES ON EXECUTIVE COMPENSATION. Mgmt 1 Year Against
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VIATEL HOLDING (BERMUDA) LIMITED Agenda Number: 933307286
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Security: G93447111
Meeting Type: Special
Meeting Date: 13-Jul-2010
Ticker: VIAHF
ISIN: BMG934471118
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Prop.# Proposal Proposal Proposal Vote For/Against
Type Management
01 THAT, THE SALE OF VTL (UK) LIMITED BY VTL, INC. Mgmt For For
TO MDNX HOLDINGS LIMITED ("MDNX") PURSUANT
TO THE TERMS OF THE CONDITIONAL SHARE PURCHASE
AGREEMENT DATED 23 JUNE, 2010 AND ENTERED INTO
BETWEEN VTL, INC. AND MDNX, THE MATERIAL TERMS
OF WHICH ARE DESCRIBED IN THE CHAIRMAN'S LETTER
(THE "SALE") BE AND IS HEREBY APPROVED, ALL
AS MORE FULLY DESCRIBED IN THE PROXY STATEMENT.
02 THAT ANY AND ALL ACTIONS OF THE DIRECTORS AND Mgmt For For
OFFICERS OF THE COMPANY OR OF VTL, INC. ACTING
INDIVIDUALLY OR TOGETHER WITH ANOTHER TO DATE
IN CONNECTION WITH THE SALE BE AND ARE HEREBY
APPROVED, RATIFIED, CONFIRMED AND ADOPTED IN
ALL RESPECTS AS ACTIONS TAKEN FOR AND ON BEHALF
OF THE COMPANY.
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VIATEL HOLDING (BERMUDA) LIMITED Agenda Number: 933329915
--------------------------------------------------------------------------------------------------------------------------
Security: G93447111
Meeting Type: Special
Meeting Date: 29-Sep-2010
Ticker: VIAHF
ISIN: BMG934471118
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Prop.# Proposal Proposal Proposal Vote For/Against
Type Management
01 THAT, THE SALE OF VTL (UK) LIMITED BY VTL, INC. Mgmt Abstain Against
TO DASHSET LIMITED ("DASHSET") PURSUANT TO
THE TERMS OF A DRAFT CONDITIONAL SHARE PURCHASE
AGREEMENT TO BE ENTERED INTO BETWEEN VTL, INC.
AND DASHSET, THE MATERIAL TERMS OF WHICH ARE
DESCRIBED IN THE CHAIRMAN'S LETTER ("THE SALE")
BE AND IS HEREBY APPROVED, ALL AS MORE FULLY
DESCRIBED IN THE PROXY STATEMENT.
02 THAT ANY AND ALL ACTIONS OF THE DIRECTORS AND Mgmt Abstain Against
OFFICERS OF THE COMPANY OR OF VTL, INC. ACTING
INDIVIDUALLY OR TOGETHER WITH ANOTHER TO DATE
IN CONNECTION WITH THE SALE BE AND ARE HEREBY
APPROVED, RATIFIED, CONFIRMED AND ADOPTED IN
ALL RESPECTS AS ACTIONS TAKEN FOR AND ON BEHALF
OF THE COMPANY.
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VIATEL HOLDING (BERMUDA) LIMITED Agenda Number: 933359134
--------------------------------------------------------------------------------------------------------------------------
Security: G93447111
Meeting Type: Annual
Meeting Date: 04-Jan-2011
Ticker: VIAHF
ISIN: BMG934471118
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Prop.# Proposal Proposal Proposal Vote For/Against
Type Management
01 THE AUDITORS REPORT AND FINANCIAL STATEMENTS Mgmt No vote
FOR THE YEAR ENDED DECEMBER 31, 2009 BE AND
ARE HEREBY RECEIVED.
02 MESSRS DELOITTE AND TOUCHE (LONDON) BE AND ARE Mgmt No vote
HEREBY APPOINTED AS AUDITORS TO THE COMPANY,
TO HOLD OFFICE UNTIL THE CLOSE OF THE NEXT
ANNUAL GENERAL MEETING OF THE COMPANY.
03 THE BOARD OF DIRECTORS BE AND ARE HEREBY AUTHORIZED Mgmt No vote
TO DETERMINE THE REMUNERATION OF THE AUDITORS
TO THE COMPANY.
04 DIDIER DELEPINE BE AND IS HEREBY ELECTED AS Mgmt No vote
A DIRECTOR OF THE COMPANY TO SERVE AS SUCH
UNTIL THE NEXT ANNUAL GENERAL MEETING OR UNTIL
HIS SUCCESSOR IS APPOINTED IN ACCORDANCE WITH
THE COMPANY'S BYE-LAWS.
05 THOMAS DOSTER BE AND IS HEREBY ELECTED AS A Mgmt No vote
DIRECTOR OF THE COMPANY TO SERVE AS SUCH UNTIL
THE NEXT ANNUAL GENERAL MEETING OR UNTIL HIS
SUCCESSOR IS APPOINTED IN ACCORDANCE WITH THE
COMPANY'S BYE-LAWS
06 LUCY WOODS BE AND IS HEREBY ELECTED AS A DIRECTOR Mgmt No vote
OF THE COMPANY TO SERVE AS SUCH UNTIL THE NEXT
ANNUAL GENERAL MEETING OR UNTIL HER SUCCESSOR
IS APPOINTED IN ACCORDANCE WITH THE COMPANY'S
BYE-LAWS.
* Management position unknown
SIGNATURES
Pursuant to the requirements of the Investment Company Act of 1940, the
registrant has duly caused this report to be signed on its behalf by the
undersigned, thereunto duly authorized.
(Registrant) Highland Credit Strategies Fund
By (Signature) /s/ R. Joseph Dougherty
Name R. Joseph Dougherty
Title President
Date 08/19/2011