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
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: 07/01/2009 - 06/30/2010
HCF- Highland Credit Strategies Fund The fund held no voting securities during the reporting period and did not vote
any securities or have any securities that were subject to a vote during the reporting period.
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DELPHI CORPORATION Agenda Number: 933116813
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Security: 247126AB1
Meeting Type: Consent
Meeting Date: 15-Jul-2009
Ticker:
ISIN: US247126AB11
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Prop.# Proposal Proposal Proposal Vote For/Against
Type Management
01 THE MODIFIED PLAN Mgmt No vote
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DELPHI CORPORATION Agenda Number: 933116813
--------------------------------------------------------------------------------------------------------------------------
Security: 247126AC9
Meeting Type: Consent
Meeting Date: 15-Jul-2009
Ticker:
ISIN: US247126AC93
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Prop.# Proposal Proposal Proposal Vote For/Against
Type Management
01 THE MODIFIED PLAN Mgmt No vote
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DELPHI CORPORATION Agenda Number: 933116813
--------------------------------------------------------------------------------------------------------------------------
Security: 247126AD7
Meeting Type: Consent
Meeting Date: 15-Jul-2009
Ticker:
ISIN: US247126AD76
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Prop.# Proposal Proposal Proposal Vote For/Against
Type Management
01 THE MODIFIED PLAN Mgmt No vote
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DELTA AIR LINES, INC. Agenda Number: 933273461
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Security: 247361702
Meeting Type: Annual
Meeting Date: 30-Jun-2010
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 For For
1B ELECTION OF DIRECTOR: EDWARD H. BASTIAN Mgmt For For
1C ELECTION OF DIRECTOR: ROY J. BOSTOCK Mgmt For For
1D ELECTION OF DIRECTOR: JOHN S. BRINZO Mgmt For For
1E ELECTION OF DIRECTOR: DANIEL A. CARP Mgmt For For
1F ELECTION OF DIRECTOR: JOHN M. ENGLER Mgmt For For
1G ELECTION OF DIRECTOR: MICKEY P. FORET Mgmt For For
1H ELECTION OF DIRECTOR: DAVID R. GOODE Mgmt For For
1I ELECTION OF DIRECTOR: PAULA ROSPUT REYNOLDS Mgmt For For
1J ELECTION OF DIRECTOR: KENNETH C. ROGERS Mgmt For For
1K ELECTION OF DIRECTOR: RODNEY E. SLATER Mgmt For For
1L ELECTION OF DIRECTOR: DOUGLAS M. STEENLAND Mgmt For For
1M ELECTION OF DIRECTOR: KENNETH B. WOODROW Mgmt For For
02 TO RATIFY THE APPOINTMENT OF ERNST & YOUNG LLP Mgmt For For
AS DELTA'S INDEPENDENT AUDITORS FOR THE YEAR
ENDING DECEMBER 31, 2010.
03 STOCKHOLDER PROPOSAL REGARDING CUMULATIVE VOTING Shr Against For
IN THE ELECTION OF DIRECTORS.
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GRAY TELEVISION INC Agenda Number: 933267533
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Security: 389375205
Meeting Type: Annual
Meeting Date: 23-Jun-2010
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
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MAGNACHIP SEMICONDUCTORS AA Agenda Number: 933145686
--------------------------------------------------------------------------------------------------------------------------
Security: 55932RAB3
Meeting Type: Consent
Meeting Date: 24-Sep-2009
Ticker:
ISIN: US55932RAB33
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Prop.# Proposal Proposal Proposal Vote For/Against
Type Management
4A1 DEBTOR'S PLAN 4A Mgmt No vote
4A2 COMMITTEE'S PLAN 4A Mgmt No vote
4A3 PREFERENCE 4A - FOR = DEBTOR'S PLAN, AGAINST Mgmt No vote
= COMMITTEE'S PLAN
4A4 ELECTS TO OPT OUT 4A Mgmt No vote
4A5 I AM A U.S. CITIZEN 4A Mgmt No vote
4B1 DEBTOR'S PLAN 4B Mgmt No vote
4B2 COMMITTEE'S PLAN 4B Mgmt No vote
4B3 PREFERENCE 4B - FOR = DEBTOR'S PLAN, AGAINST Mgmt No vote
= COMMITTEE'S PLAN
4B4 ELECTS TO OPT OUT 4B Mgmt No vote
4B5 I AM A U.S. CITIZEN 4B Mgmt No vote
4C1 DEBTOR'S PLAN 4C Mgmt No vote
4C2 COMMITTEE'S PLAN 4C Mgmt No vote
4C3 PREFERENCE 4C - FOR = DEBTOR'S PLAN, AGAINST Mgmt No vote
= COMMITTEE'S PLAN
4C4 ELECTS TO OPT OUT 4C Mgmt No vote
4C5 I AM A U.S. CITIZEN 4C Mgmt No vote
4D1 DEBTOR'S PLAN 4D Mgmt No vote
4D2 COMMITTEE'S PLAN 4D Mgmt No vote
4D3 PREFERENCE 4D - FOR = DEBTOR'S PLAN, AGAINST Mgmt No vote
= COMMITTEE'S PLAN
4D4 ELECTS TO OPT OUT 4D Mgmt No vote
4D5 I AM A U.S. CITIZEN 4D Mgmt No vote
4E1 DEBTOR'S PLAN 4E Mgmt No vote
4E2 COMMITTEE'S PLAN 4E Mgmt No vote
4E3 PREFERENCE 4E - FOR = DEBTOR'S PLAN, AGAINST Mgmt No vote
= COMMITTEE'S PLAN
4E4 ELECTS TO OPT OUT 4E Mgmt No vote
4E5 I AM A U.S. CITIZEN 4E Mgmt No vote
4F1 DEBTOR'S PLAN 4F Mgmt No vote
4F2 COMMITTEE'S PLAN 4F Mgmt No vote
4F3 PREFERENCE 4F - FOR = DEBTOR'S PLAN, AGAINST Mgmt No vote
= COMMITTEE'S PLAN
4F4 ELECTS TO OPT OUT 4F Mgmt No vote
4F5 I AM A U.S. CITIZEN 4F Mgmt No vote
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NEW HOLDING, INC. Agenda Number: 933146474
--------------------------------------------------------------------------------------------------------------------------
Security: 645287AA1
Meeting Type: Consent
Meeting Date: 30-Sep-2009
Ticker:
ISIN: US645287AA12
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Prop.# Proposal Proposal Proposal Vote For/Against
Type Management
01 PROPOSAL ONE Mgmt No vote
02 PROPOSAL TWO Mgmt No vote
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NEW HOLDING, INC. Agenda Number: 933149557
--------------------------------------------------------------------------------------------------------------------------
Security: 645287103
Meeting Type: Consent
Meeting Date: 30-Sep-2009
Ticker:
ISIN:
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Prop.# Proposal Proposal Proposal Vote For/Against
Type Management
01 THE PLANR Mgmt No vote
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SALLY BEAUTY HOLDINGS, INC. Agenda Number: 933173762
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Security: 79546E104
Meeting Type: Annual
Meeting Date: 27-Jan-2010
Ticker: SBH
ISIN: US79546E1047
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Prop.# Proposal Proposal Proposal Vote For/Against
Type Management
01 DIRECTOR
JAMES G. BERGES Mgmt For For
MARSHALL E. EISENBERG Mgmt For For
JOHN A. MILLER Mgmt For For
RICHARD J. SCHNALL 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 2010.
03 APPROVAL OF THE SALLY BEAUTY HOLDINGS, INC. Mgmt For For
2010 OMNIBUS INCENTIVE PLAN.
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VIATEL HOLDING (BERMUDA) LIMITED Agenda Number: 933196873
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Security: G93447111
Meeting Type: Annual
Meeting Date: 24-Mar-2010
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, 2008 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
OF THE COMPANY.
04 DIDIER DELEPINE BE AND IS HEREBY ELECTED AS Mgmt No vote
A DIRECTOR TO SERVE AS SUCH UNTIL THE NEXT
ANNUAL GENERAL MEETING OR UNTIL HIS SUCCESSOR
IS APPOINTED IN ACCORDANCE WITH COMPANY'S BYE-LAWS.
05 THOMAS DOSTER BE & IS HEREBY ELECTED AS A DIRECTOR Mgmt No vote
TO SERVE AS SUCH UNTIL NEXT ANNUAL GENERAL
MEETING.
06 LUCY WOODS BE AND IS HEREBY ELECTED AS A DIRECTOR Mgmt No vote
TO SERVE AS SUCH UNTIL THE NEXT ANNUAL GENERAL
MEETING OR UNTIL HIS SUCCESSOR IS APPOINTED
IN ACCORDANCE WITH COMPANY'S BYE-LAWS.
07 THAT THE INTRA-GROUP BUSINESS SALE AGREEMENT Mgmt No vote
ENTERED INTO ON FEBRUARY 20, 2009 BETWEEN WHOLLY
OWNED SUBSIDIARIES, VTL (UK) LIMITED ("VTL
(UK)") AND VTL WAVENET LIMITED ("WAVENET"),
UNDER WHICH WAVENET PURCHASED CERTAIN ASSETS
AND UNDERTAKINGS FROM VTL (UK) THE MATERIAL
TERMS OF WHICH ARE DESCRIBED IN CHAIRMAN'S
LETTER CIRCULATED TO THE SHAREHOLDERS OF THE
COMPANY.
08 THAT ANY AND ALL ACTIONS OF THE DIRECTORS AND Mgmt No vote
OFFICERS ACTING INDIVIDUALLY OR TOGETHER WITH
ANOTHER TO DATE IN CONNECTION WITH INTRA-GROUP
TRANSACTION.
* 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 Chief Executive Officer and President
Date 08/26/2010