N-PX 1 brdqy80001356115.txt BRDQY80001356115 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 -------------------------------------------------------------------------------------------------------------------------- DELTA AIR LINES, INC. Agenda Number: 933454047 -------------------------------------------------------------------------------------------------------------------------- Security: 247361702 Meeting Type: Annual Meeting Date: 30-Jun-2011 Ticker: DAL ISIN: US2473617023 -------------------------------------------------------------------------------------------------------------------------- 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. -------------------------------------------------------------------------------------------------------------------------- GRAY TELEVISION INC Agenda Number: 933431443 -------------------------------------------------------------------------------------------------------------------------- Security: 389375205 Meeting Type: Annual Meeting Date: 01-Jun-2011 Ticker: GTNA ISIN: US3893752051 -------------------------------------------------------------------------------------------------------------------------- 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. -------------------------------------------------------------------------------------------------------------------------- ICO GLOBAL COMMUNICATIONS (HLDG.) LTD. Agenda Number: 933342773 -------------------------------------------------------------------------------------------------------------------------- Security: 44930K108 Meeting Type: Annual Meeting Date: 13-Dec-2010 Ticker: ICOG ISIN: US44930K1088 -------------------------------------------------------------------------------------------------------------------------- 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 -------------------------------------------------------------------------------------------------------------------------- ICO GLOBAL COMMUNICATIONS (HLDG.) LTD. Agenda Number: 933443753 -------------------------------------------------------------------------------------------------------------------------- Security: 44930K108 Meeting Type: Annual Meeting Date: 14-Jun-2011 Ticker: ICOG ISIN: US44930K1088 -------------------------------------------------------------------------------------------------------------------------- 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. -------------------------------------------------------------------------------------------------------------------------- MOLECULAR INSIGHT PHARMACEUTICALS INC. Agenda Number: 933401832 -------------------------------------------------------------------------------------------------------------------------- Security: 60852MAA2 Meeting Type: Consent Meeting Date: 25-Apr-2011 Ticker: ISIN: US60852MAA27 -------------------------------------------------------------------------------------------------------------------------- Prop.# Proposal Proposal Proposal Vote For/Against Type Management 01 TO ACCEPT THE PLAN Mgmt For -------------------------------------------------------------------------------------------------------------------------- NEW HOLDING, INC. Agenda Number: 933323141 -------------------------------------------------------------------------------------------------------------------------- Security: 645287103 Meeting Type: Consent Meeting Date: 10-Sep-2010 Ticker: ISIN: -------------------------------------------------------------------------------------------------------------------------- Prop.# Proposal Proposal Proposal Vote For/Against Type Management 01 COTTON WOOD TRANSACTION Mgmt No vote 02 COMPANY STOCK AGREEMENT Mgmt No vote -------------------------------------------------------------------------------------------------------------------------- NEW HOLDING, INC. Agenda Number: 933323557 -------------------------------------------------------------------------------------------------------------------------- Security: 645287AA1 Meeting Type: Consent Meeting Date: 10-Sep-2010 Ticker: ISIN: US645287AA12 -------------------------------------------------------------------------------------------------------------------------- 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. -------------------------------------------------------------------------------------------------------------------------- OWENS CORNING Agenda Number: 933383820 -------------------------------------------------------------------------------------------------------------------------- Security: 690742101 Meeting Type: Annual Meeting Date: 14-Apr-2011 Ticker: OC ISIN: US6907421019 -------------------------------------------------------------------------------------------------------------------------- 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. -------------------------------------------------------------------------------------------------------------------------- SALLY BEAUTY HOLDINGS, INC. Agenda Number: 933358702 -------------------------------------------------------------------------------------------------------------------------- Security: 79546E104 Meeting Type: Annual Meeting Date: 28-Jan-2011 Ticker: SBH ISIN: US79546E1047 -------------------------------------------------------------------------------------------------------------------------- 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 -------------------------------------------------------------------------------------------------------------------------- VIATEL HOLDING (BERMUDA) LIMITED Agenda Number: 933307286 -------------------------------------------------------------------------------------------------------------------------- Security: G93447111 Meeting Type: Special Meeting Date: 13-Jul-2010 Ticker: VIAHF ISIN: BMG934471118 -------------------------------------------------------------------------------------------------------------------------- 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. -------------------------------------------------------------------------------------------------------------------------- VIATEL HOLDING (BERMUDA) LIMITED Agenda Number: 933329915 -------------------------------------------------------------------------------------------------------------------------- Security: G93447111 Meeting Type: Special Meeting Date: 29-Sep-2010 Ticker: VIAHF ISIN: BMG934471118 -------------------------------------------------------------------------------------------------------------------------- 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. -------------------------------------------------------------------------------------------------------------------------- VIATEL HOLDING (BERMUDA) LIMITED Agenda Number: 933359134 -------------------------------------------------------------------------------------------------------------------------- Security: G93447111 Meeting Type: Annual Meeting Date: 04-Jan-2011 Ticker: VIAHF ISIN: BMG934471118 -------------------------------------------------------------------------------------------------------------------------- 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