Highland Capital Management Fund Advisors 13F-HR Quarterly holdings report by institutional manager

The Securities and Exchange Commission has not necessarily reviewed the information in this filing and has not determined if it is accurate and complete.
The reader should not assume that the information is accurate and complete.

UNITED STATES SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM 13F

FORM 13F INFORMATION TABLE

OMB APPROVAL

OMB Number:		3235-0006
Expires:	Oct 31, 2018
Estimated average burden
hours per response:		23.8

COLUMN 1	COLUMN 2	COLUMN 3	COLUMN 4	COLUMN 5			COLUMN 6	COLUMN 7	COLUMN 8
			VALUE	SHRS OR	SH/	PUT/	INVESTMENT	OTHER	VOTING AUTHORITY
NAME OF ISSUER	TITLE OF CLASS	CUSIP	(x$1000)	PRN AMT	PRN	CALL	DISCRETION	MANAGER	SOLE	SHARED	NONE
ADVANCED DRAIN SYS INC DEL	COM	00790R104	252,630	3,000	SH		SOLE		3,000	0	0
AEROJET ROCKETDYNE HLDGS INC	COM	007800105	43,856,300	780,778	SH		SOLE		780,778	0	0
AFC GAMMA INC	COM	00109K105	399,565	32,859	SH		DFND		32,859	0	0
AGROFRESH SOLUTIONS INC	COM	00856G109	6,055,305	2,018,435	SH		SOLE		2,018,435	0	0
ALEXANDRIA REAL ESTATE EQ IN	COM	015271109	7,033,040	56,000	SH		SOLE		56,000	0	0
ALTENERGY ACQUISITION CORP	COM CL A	02157M108	254,188	24,500	SH		SOLE		24,500	0	0
ALTENERGY ACQUISITION CORP	*W EXP 10/29/202	02157M116	1,001	12,500	SH		SOLE		12,500	0	0
ALTUS POWER INC	COM CL A	02217A102	266,602	48,650	SH		SOLE		48,650	0	0
APOLLO ENDOSURGERY INC	COM	03767D108	35,845,116	3,613,419	SH		SOLE		3,613,419	0	0
APPRECIATE HOLDINGS INC	*W EXP 11/29/202	03832J114	266	12,612	SH		SOLE		12,612	0	0
ASPEN AEROGELS INC	COM	04523Y105	208,973	28,050	SH		SOLE		28,050	0	0
ATHENA CONSUMER ACQ CORP	*W EXP 07/31/202	04684M114	18,761	125,076	SH		SOLE		125,076	0	0
ATLAS ENERGY SOLUTIONS INC	COM CLASS A	04930R107	170,300	10,000	SH		SOLE		10,000	0	0
ATLAS TECHNICAL CONSULTANTS	COM CLS A	049430101	21,360,415	1,752,290	SH		SOLE		1,752,290	0	0
BANNER ACQUISITION CORP	CLASS A COM	06654K101	533,279	52,078	SH		SOLE		52,078	0	0
BLOCKCHAIN COINVSTRS ACQ CRP	UNIT 09/01/2026	G11765123	104,200	10,000	SH		SOLE		10,000	0	0
BLOOM ENERGY CORP	COM CL A	093712107	251,118	12,600	SH		SOLE		12,600	0	0
BRAEMAR HOTELS & RESORTS INC	5.5 CUM CV PFD B	10482B200	9,063,315	565,750	SH		SOLE		565,750	0	0
BROOKFIELD RENEWABLE PARTNER	PARTNERSHIP UNIT	G16258108	359,214	11,400	SH		SOLE		11,400	0	0
CENTRAL PUERTO S A	SPONSORED ADR	155038201	1,094,173	202,250	SH		SOLE		202,250	0	0
CENTRAL PUERTO S A	SPONSORED ADR	155038201	1,773,128	327,750	SH		DFND		327,750	0	0
CHART INDS INC	COM	16115Q308	401,280	3,200	SH		SOLE		3,200	0	0
CLEAN ENERGY FUELS CORP	COM	184499101	188,352	43,200	SH		SOLE		43,200	0	0
CLEARWAY ENERGY INC	CL C	18539C204	501,280	16,000	SH		SOLE		16,000	0	0
CONSTELLATION ENERGY CORP	COM	21037T109	243,350	3,100	SH		SOLE		3,100	0	0
CRESUD S A C I F Y A	SPONSORED ADR	226406106	1,045,629	164,149	SH		DFND		164,149	0	0
CROWN HLDGS INC	COM	228368106	454,905	5,500	SH		SOLE		5,500	0	0
DARLING INGREDIENTS INC	COM	237266101	408,800	7,000	SH		SOLE		7,000	0	0
DCP MIDSTREAM LP	COM UT LTD PTN	23311P100	84,231,262	2,018,966	SH		SOLE		2,018,966	0	0
DIREXION SHS ETF TR	DRX S&P500BULL	25459W862	10,635,249	145,330	SH		SOLE		145,330	0	0
ECOVYST INC	COM	27923Q109	276,250	25,000	SH		SOLE		25,000	0	0
ELME COMMUNITIES	SH BEN INT	939653101	16,468,188	922,071	SH		SOLE		922,071	0	0
ELME COMMUNITIES	SH BEN INT	939653101	3,716,202	208,074	SH		DFND		208,074	0	0
EMEREN GROUP LTD	SPONSORED ADS	75971T301	371,575	83,500	SH		SOLE		83,500	0	0
ENERGEM CORP	UNIT 11/15/2026	G30449113	2,389,500	225,000	SH		SOLE		225,000	0	0
ENERGY TRANSFER L P	COM UT LTD PTN	29273V100	20,023,229	1,605,712	SH		SOLE		1,605,712	0	0
ENERGY TRANSFER L P	COM UT LTD PTN	29273V100	748,200	60,000	SH		DFND		60,000	0	0
ENTERPRISE PRODS PARTNERS L	COM	293792107	2,036,543	78,631	SH		SOLE		78,631	0	0
EVEREST CONSOLIDATOR ACQ COR	UNIT 99/99/9999	29978K201	638,515	60,927	SH		SOLE		60,927	0	0
FARMLAND PARTNERS INC	COM	31154R109	524,300	49,000	SH		DFND		49,000	0	0
FAT PROJECTS ACQUISITION COR	*W EXP 08/31/202	G3400W110	9,000	150,000	SH		SOLE		150,000	0	0
FEDEX CORP	COM	31428X106	456,980	2,000	SH	Put	SOLE		2,000	0	0
FEDEX CORP	COM	31428X106	456,980	2,000	SH	Call	SOLE		2,000	0	0
FIRST HORIZON CORPORATION	COM	320517105	35,134,365	1,976,061	SH		SOLE		1,976,061	0	0
FOCUS FINL PARTNERS INC	COM CL A	34417P100	3,400,960	65,567	SH		SOLE		65,567	0	0
GLOBUS MED INC	CL A	379577208	283,200	5,000	SH		SOLE		5,000	0	0
GOGREEN INVESTMENTS CORP	*W EXP 05/31/202	G9461B119	106,459	181,950	SH		SOLE		181,950	0	0
GREEN VISOR FIN TEC ACQ CORP	UNIT 11/08/2026	G4166K118	1,501,632	145,507	SH		SOLE		145,507	0	0
GRUPO SUPERVIELLE S.A.	SPONSORED ADR	40054A108	54,675	24,300	SH		SOLE		24,300	0	0
HEALTHCARE RLTY TR	CL A COM	42226K105	15,940,195	824,635	SH		SOLE		824,635	0	0
HERON THERAPEUTICS INC	COM	427746102	366,855	242,950	SH		DFND		242,950	0	0
HERON THERAPEUTICS INC	COM	427746102	386,833	256,181	SH		SOLE		256,181	0	0
HIGHLAND GLOBAL ALLOCATION F	COM	43010T104	10,365,546	86,595	SH		SOLE		86,595	0	0
HIGHLAND INCOME FD	HIGHLAND INCOME	43010E404	5,133,729	584,042	SH		DFND		584,042	0	0
HIGHLAND INCOME FD	HIGHLAND INCOME	43010E404	2,935,904	334,005	SH		SOLE		334,005	0	0
HORIZON THERAPEUTICS PUB L	SHS	G46188101	70,427,824	645,298	SH		SOLE		645,298	0	0
INDEPENDENCE RLTY TR INC	COM	45378A106	1,563,791	97,554	SH		SOLE		97,554	0	0
INDUS REALTY TRUST INC	COM	45580R103	14,990,224	226,131	SH		SOLE		226,131	0	0
INTEGRATED RAIL AND RES ACQ	UNIT 99/99/9999	45827R205	3,184,586	294,324	SH		SOLE		294,324	0	0
INTELLIGENT MEDI ACQSITN COR	*W EXP 11/05/202	45828D114	5,750	125,000	SH		SOLE		125,000	0	0
LIMESTONE BANCORP INC	COM	53262L105	291,837	13,081	SH		SOLE		13,081	0	0
LOMA NEGRA C I A S A MTN 14	SPONSORED ADS	54150E104	444,800	64,000	SH		DFND		64,000	0	0
MAXAR TECHNOLOGIES INC	COM	57778K105	72,541,657	1,420,714	SH		SOLE		1,420,714	0	0
MERCADOLIBRE INC	COM	58733R102	3,954,180	3,000	SH		SOLE		3,000	0	0
MFA FINL INC	COM	55272X607	223,200	22,500	SH		DFND		22,500	0	0
MINERALS TECHNOLOGIES INC	COM	603158106	338,352	5,600	SH		SOLE		5,600	0	0
MONEYGRAM INTL INC	COM NEW	60935Y208	71,217,397	6,834,683	SH		SOLE		6,834,683	0	0
NEW FORTRESS ENERGY INC	COM CL A	644393100	459,108	15,600	SH		SOLE		15,600	0	0
NEXPOINT DIVERSIFIED REL ET	COM NEW	65340G205	24,236,688	2,334,941	SH		SOLE		2,334,941	0	0
NEXPOINT REAL ESTATE FIN INC	COM	65342V101	122,600,168	7,823,878	SH		SOLE		7,823,878	0	0
NEXPOINT REAL ESTATE FIN INC	COM	65342V101	6,479,326	413,486	SH		DFND		413,486	0	0
NEXPOINT RESIDENTIAL TR INC	COM	65341D102	22,425,069	513,512	SH		SOLE		513,512	0	0
NEXPOINT RESIDENTIAL TR INC	COM	65341D102	2,630,288	60,231	SH		DFND		60,231	0	0
NEXTERA ENERGY PARTNERS LP	COM UNIT PART IN	65341B106	340,200	5,600	SH		SOLE		5,600	0	0
OAK STR HEALTH INC	COM	67181A107	41,145,502	1,063,741	SH		SOLE		1,063,741	0	0
PAMPA ENERGIA S A	SPONS ADR LVL I	697660207	2,232,746	67,700	SH		SOLE		67,700	0	0
PARATEK PHARMACEUTICALS INC	COM	699374302	127,000	50,000	SH		DFND		50,000	0	0
PARATEK PHARMACEUTICALS INC	COM	699374302	6,212,256	2,445,770	SH		SOLE		2,445,770	0	0
PATTERSON COS INC	COM	703395103	460,444	17,200	SH		SOLE		17,200	0	0
PERCEPTION CAPITAL CORP II	*W EXP 10/25/202	G7007D110	21,789	198,080	SH		SOLE		198,080	0	0
PHOENIX BIOTECH ACQUISITION	*W EXP 09/01/202	71902K113	4,361	108,741	SH		SOLE		108,741	0	0
PLANET LABS PBC	COM CL A	72703X106	412,650	105,000	SH		SOLE		105,000	0	0
PNM RES INC	COM	69349H107	6,716,380	137,970	SH		SOLE		137,970	0	0
PRIMO WATER CORPORATION	COM	74167P108	497,340	32,400	SH		SOLE		32,400	0	0
PROSHARES TR	ULTRAPRO QQQ	74347X831	10,197,621	360,850	SH		SOLE		360,850	0	0
PROSHARES TR II	ULTRA VIX SHORT	74347Y839	257,145	55,300	SH		SOLE		55,300	0	0
QUALTRICS INTL INC	COM CL A	747601201	10,331,183	579,427	SH		SOLE		579,427	0	0
SAFEHOLD INC	COM	78646V107	1,109,484	37,256	SH		DFND		37,256	0	0
SEAPORT GLOBAL ACQUISITION I	*W EXP 11/17/202	81221H113	1,276	21,237	SH		SOLE		21,237	0	0
SERITAGE GROWTH PPTYS	CL A	81752R100	3,285,725	417,500	SH		SOLE		417,500	0	0
SHOALS TECHNOLOGIES GROUP IN	CL A	82489W107	227,900	10,000	SH		SOLE		10,000	0	0
SISECAM RESOURCES LP	COM UNIT LTD	172464109	14,445,206	575,048	SH		SOLE		575,048	0	0
SMX SEC MATTERS PLC	*W EXP 03/07/202	G8267K117	5,658	113,155	SH		SOLE		113,155	0	0
SOLAREDGE TECHNOLOGIES INC	COM	83417M104	465,044	1,530	SH		SOLE		1,530	0	0
STEM INC	COM	85859N102	181,440	32,000	SH		SOLE		32,000	0	0
SUNNOVA ENERGY INTL INC.	COM	86745K104	201,810	12,920	SH		SOLE		12,920	0	0
SUNRUN INC	COM	86771W105	253,890	12,600	SH		SOLE		12,600	0	0
TALON 1 ACQUISITION CORP	UNIT 11/02/2026	G86656124	432,155	38,968	SH		SOLE		38,968	0	0
TARGA RES CORP	COM	87612G101	9,600,220	131,600	SH		SOLE		131,600	0	0
TELESAT CORP	CL A & CL B SHS	879512309	4,676,878	543,823	SH		SOLE		543,823	0	0
TELESAT CORP	CL A & CL B SHS	879512309	405,060	47,100	SH		DFND		47,100	0	0
TESLA INC	COM	88160R101	248,952	1,200	SH	Put	SOLE		1,200	0	0
TEUCRIUM COMMODITY TR	CORN FD SHS	88166A102	5,218,826	206,850	SH		SOLE		206,850	0	0
TREAN INS GROUP INC	COM	89457R101	13,149,726	2,148,648	SH		SOLE		2,148,648	0	0
UR-ENERGY INC	COM	91688R108	15,900	15,000	SH		SOLE		15,000	0	0
VISTRA CORP	COM	92840M102	3,528,000	147,000	SH		SOLE		147,000	0	0
WESTERN MIDSTREAM PARTNERS L	COM UNIT LP INT	958669103	7,333,497	278,100	SH		SOLE		278,100	0	0
WHEELER REAL ESTATE INVT TR	CV PFD SER B	963025309	132,093	82,301	SH		SOLE		82,301	0	0
WHEELER REAL ESTATE INVT TR	PFD CNV SER D	963025606	593,615	47,300	SH		SOLE		47,300	0	0
WHITESTONE REIT	COM	966084204	8,052,346	875,255	SH		SOLE		875,255	0	0
WHITESTONE REIT	COM	966084204	2,799,220	304,263	SH		DFND		304,263	0	0