Highland Capital Management 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
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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
3M CO	COM	88579Y101	1,755	16,054	SH		SOLE	0	16,054	0	0
ABBOTT LABORATORIES	COM	2824100	3,994	114,496	SH		SOLE	0	112,086	0	2,410
ABERDEEN ASIA-PACIFIC PRIME INCOME FUND	COM	3009107	221	35,645	SH		SOLE	0	35,645	0	0
AFLAC INC	COM	1055102	5,237	90,109	SH		SOLE	0	88,574	0	1,535
ALERIAN MLP ETF	ALERIAN MLP	00162Q866	4,182	234,265	SH		SOLE	0	231,090	0	3,175
AMERICAN EXPRESS	COM	25816109	2,466	32,988	SH		SOLE	0	32,988	0	0
APACHE CORP	COM	37411105	3,602	42,964	SH		SOLE	0	42,169	0	795
APPLE COMPUTER	COM	37833100	9,052	22,829	SH		SOLE	0	22,407	0	422
AT&T INC	COM	00206R102	6,034	170,449	SH		SOLE	0	167,924	0	2,525
AUTOMATIC DATA PROCESSING INC	COM	53015103	3,159	45,873	SH		SOLE	0	45,773	0	100
AUTOZONE INC	COM	53332102	201	474	SH		SOLE	0	474	0	0
BANK OF AMERICA CORPORATION	COM	60505104	3,446	267,939	SH		SOLE	0	262,059	0	5,880
BOEING COMPANY	COM	97023105	8,062	78,695	SH		SOLE	0	77,350	0	1,345
CHEVRON CORP	COM	166764100	3,381	28,566	SH		SOLE	0	27,986	0	580
CHINA LARGE CAP ETF	FTSE CHINA25 IDX	464287184	377	11,605	SH		SOLE	0	11,605	0	0
CISCO SYSTEMS INC	COM	17275R102	8,294	340,740	SH		SOLE	0	334,569	0	6,171
COCA COLA COMPANY	COM	191216100	2,712	67,607	SH		SOLE	0	67,607	0	0
COHEN & STEERS REALTY MAJORS INDEX	COHE&ST RLTY	464287564	909	11,273	SH		SOLE	0	11,273	0	0
COMCAST CORPORATION CL A SPECIAL	CL A SPL	20030N200	5,305	133,734	SH		SOLE	0	132,274	0	1,460
CORE S&P 500	S&P 500 INDEX	464287200	6,624	41,171	SH		SOLE	0	41,171	0	0
CORE S&P MIDCAP	S&P MIDCAP 400	464287507	745	6,452	SH		SOLE	0	6,452	0	0
CORE S&P SMALLCAP 600 INDEX	S&P SMLCAP 600	464287804	399	4,414	SH		SOLE	0	4,414	0	0
CORE TOTAL US BOND	BARCLY USAGG B	464287226	602	5,615	SH		SOLE	0	5,615	0	0
COSTCO WHOLESALE CORPORATION	COM	22160K105	5,610	50,739	SH		SOLE	0	49,974	0	765
COVIDIEN PLC	SHS	G2554F113	3,915	62,298	SH		SOLE	0	60,913	0	1,385
CSX CORPORATION	COM	126408103	3,484	150,255	SH		SOLE	0	147,855	0	2,400
DEERE & CO	COM	244199105	3,848	47,358	SH		SOLE	0	46,348	0	1,010
DELL INC	COM	24702R101	502	37,687	SH		SOLE	0	37,687	0	0
DIRECTV	COM CL A	25490A309	5,622	91,208	SH		SOLE	0	89,398	0	0
DU PONT E I DE NEMOURS & CO	COM	263534109	406	7,735	SH		SOLE	0	7,735	0	0
DUKE ENERGY CORPORATION	COM	26441C204	344	5,100	SH		SOLE	0	5,100	0	0
EMC CORP-MASS	COM	268648102	7,929	335,692	SH		SOLE	0	330,522	0	5,170
ENBRIDGE ENERGY PARTNERS LP	COM	29250R106	338	11,080	SH		SOLE	0	11,080	0	0
ENERGY SELECT SECTOR SPDR FUND	SBI INT-ENERGY	81369Y506	220	2,805	SH		SOLE	0	2,805	0	0
ENTERPRISE PRODUCTS PARTNERS	COM	293792107	230	3,703	SH		SOLE	0	3,703	0	0
EXXON MOBIL CORPORATION	COM	30231G102	14,330	158,605	SH		SOLE	0	156,645	0	1,960
FACEBOOK INC	CL A	30303M102	202	8,130	SH		SOLE	0	8,130	0	0
FEDEX CORPORATION	COM	31428X106	6,625	67,204	SH		SOLE	0	65,724	0	1,480
FIFTH STREET FINANCE CORP	COM	31678A103	120	11,500	SH		SOLE	0	11,500	0	0
FINANCIAL SELECT SECTOR SPDR	SBI INT-FINL	81369Y605	2,489	127,956	SH		SOLE	0	124,846	0	3,110
FIRST HORIZON NATIONAL CORPORATION	COM	320517105	556	49,602	SH		SOLE	0	49,602	0	0
FLUOR CORPORATION	COM	343412102	4,066	68,558	SH		SOLE	0	67,323	0	1,235
FORD MOTOR COMPANY	COM PAR $0.01	345370860	8,002	517,265	SH		SOLE	0	506,540	0	10,725
FREEPORT McMORAN COPPER & GOLD INC	COM	35671D857	4,100	148,506	SH		SOLE	0	145,471	0	3,035
GENERAL ELECTRIC COMPANY	COM	369604103	8,808	379,832	SH		SOLE	0	374,072	0	5,760
GOOGLE INC CL A	CL A SPL	38259P508	7,348	8,346	SH		SOLE	0	8,181	0	165
GTX INC	COM	40052B108	70	10,564	SH		SOLE	0	10,564	0	0
HALLIBURTON COMPANY	COM	406216101	6,719	161,057	SH		SOLE	0	157,427	0	3,630
INTEL CORPORATION	COM	458140100	382	15,777	SH		SOLE	0	15,777	0	0
INTERNATIONAL BUSINESS MACHINE	COM	459200101	2,305	12,062	SH		SOLE	0	11,777	0	285
iSHARES BARCLAYS 1-3 YEAR CREDIT BOND	BARCLYS 1-3YR CR	464288646	6,377	60,711	SH		SOLE	0	60,711	0	0
iSHARES BARCLAYS 7-10 YR TREAS BND FND	BARCLYS 7-10 YR	464287440	1,089	10,626	SH		SOLE	0	10,626	0	0
iSHARES BARCLAYS INT CR BOND FUND	BARCLYS INTER CR	464288638	13,894	128,982	SH		SOLE	0	128,982	0	0
iSHARES BARCLAYS INT GOV/CRED BOND FND	BARCLYS INTER GV	464288612	2,243	20,423	SH		SOLE	0	20,423	0	0
iSHARES BARCLAYS MBS BOND FUND	BARCLYS MBS BD	464288588	982	9,336	SH		SOLE	0	9,336	0	0
iSHARES CORE MSCI EAFE ETF	CORE MSCI EAFE	46432F842	11,888	231,024	SH		SOLE	0	231,024	0	0
iSHARES DJ SELECT DIVIDEND INDEX FUND	DJ SEL DIV INX	464287168	5,374	83,961	SH		SOLE	0	82,461	0	1,500
iSHARES DOW JONES U.S. UTILITIES SECTOR	DJ US UTILS	464287697	243	2,566	SH		SOLE	0	2,566	0	0
iSHARES IBOXX H/Y CORP BOND	HIGH YLD CORP	464288513	937	10,311	SH		SOLE	0	10,311	0	0
iSHARES LEHMAN 1-3 YEAR TREASURY	BARCLYS 1-3 YR	464287457	232	2,758	SH		SOLE	0	2,758	0	0
iSHARES MSCI EAFE GROWTH INDEX	MSCI GRW IDX	464288885	1,405	22,753	SH		SOLE	0	22,753	0	0
iSHARES MSCI EMERGING MKT MIN VOL	EM MKT MIN VOL	464286533	567	9,928	SH		SOLE	0	9,928	0	0
iSHARES S&P GSCI COMMODITY INDEX TR I	UNIT BEN INT	46428R107	315	10,212	SH		SOLE	0	10,212	0	0
iSHARES S&P MIDCAP 400 VALUE INDEX	S&P MIDCP VALU	464287705	914	9,029	SH		SOLE	0	9,029	0	0
iSHARES S&P MIDCAP GROWTH INDEX	S&P MC 400 GRW	464287606	1,465	11,370	SH		SOLE	0	11,370	0	0
iSHARES S&P US PREF STOCK INDEX FUND	US PFD STK IDX	464288687	251	6,382	SH		SOLE	0	6,382	0	0
JOHNSON & JOHNSON	COM	478160104	8,026	93,473	SH		SOLE	0	91,783	0	1,690
JP MORGAN CHASE & CO	COM	46625H100	11,413	216,189	SH		SOLE	0	212,139	0	4,050
KELLOGG CO	COM	487836108	403	6,275	SH		SOLE	0	6,275	0	0
KINDER MORGAN ENERGY PARTNERS LP	UT LTD PARTNER	494550106	3,423	40,078	SH		SOLE	0	40,078	0	0
KIPS BAY MEDICAL INC	COM	49726K105	26	25,000	SH		SOLE	0	25,000	0	0
LORILLARD INC	COM	544147101	1,132	25,911	SH		SOLE	0	25,911	0	0
LOWE'S COMPANIES INC	COM	548661107	6,721	164,321	SH		SOLE	0	160,776	0	3,545
MARATHON OIL CORP	COM	565849106	6,774	195,889	SH		SOLE	0	191,584	0	4,305
MEDTRONIC INC	COM	585055106	1,078	20,952	SH		SOLE	0	20,952	0	0
MERCK & COMPANY	COM	58933Y105	26,168	563,350	SH		SOLE	0	561,550	0	1,800
MICHAEL KORS HOLDINGS LTD	SHS	G60754101	3,840	61,916	SH		SOLE	0	60,916	0	1,000
MICROSOFT CORPORATION	COM	594918104	14,961	433,025	SH		SOLE	0	427,298	0	5,727
MONDELEZ INTERNATIONAL INC	CL A	609207105	4,404	154,381	SH		SOLE	0	151,461	0	2,920
MORGAN STANLEY	COM NEW	617446448	4,198	171,853	SH		SOLE	0	167,413	0	4,440
MSCI EAFE INDEX	MSCI EAFE INDEX	464287465	6,805	118,764	SH		SOLE	0	117,714	0	1,050
MSCI EMERGING MARKETS INDEX	MSCI EMERG MKT	464287234	698	18,140	SH		SOLE	0	18,140	0	0
ORACLE CORPORATION	COM	68389X105	4,604	149,906	SH		SOLE	0	146,766	0	3,140
PEPSICO INC	COM	713448108	9,359	114,426	SH		SOLE	0	112,386	0	2,040
PFIZER INC	COM	717081103	2,351	83,929	SH		SOLE	0	83,227	0	702
PIMCO ENHANCED SHORT MATURITY	ENHAN SHRT MAT	72201R833	2,547	25,147	SH		SOLE	0	25,147	0	0
POWERSHARES SENIOR LOAN PORTFOLIO	SENIOR LN PORT	73936Q769	4,808	194,245	SH		SOLE	0	194,245	0	0
PROCTER & GAMBLE COMPANY	COM	742718109	7,062	91,725	SH		SOLE	0	90,040	0	1,685
QUALCOMM INC	COM	747525103	6,046	98,976	SH		SOLE	0	97,536	0	1,440
REGIONS FINANCIAL CORP	COM	7591EP100	516	54,126	SH		SOLE	0	54,126	0	0
RUSSELL 1000 GROWTH INDEX	RUSSELL1000GRW	464287614	8,617	118,468	SH		SOLE	0	116,268	0	2,200
RUSSELL 1000 VALUE INDEX	RUSSELL1000VAL	464287598	835	9,967	SH		SOLE	0	9,967	0	0
RUSSELL 2000 GROWTH INDEX	RUSL 2000 GROW	464287648	1,343	12,048	SH		SOLE	0	12,048	0	0
RUSSELL 2000 VALUE INDEX	RUSL 2000 VALU	464287630	623	7,250	SH		SOLE	0	7,250	0	0
RUSSELL MIDCAP GROWTH INDEX	RUSSELL MCP GR	464287481	2,245	31,283	SH		SOLE	0	31,283	0	0
RUSSELL MIDCAP INDEX	RUSSELL MIDCAP	464287499	320	2,464	SH		SOLE	0	2,464	0	0
RUSSELL MIDCAP VALUE INDEX	RUSSELL MCP VL	464287473	1,024	17,682	SH		SOLE	0	17,682	0	0
S&P 500 DEPOSITARY RECEIPTS	TR UNIT	78462F103	3,495	21,786	SH		SOLE	0	20,711	0	1,075
SANTARUS INC	COM	802817304	442	21,000	SH		SOLE	0	21,000	0	0
SCHLUMBERGER LTD	COM	806857108	6,636	92,605	SH		SOLE	0	90,590	0	2,015
SCHWAB US BROAD MARKET ETF	US BRD MKT ETF	808524102	567	14,585	SH		SOLE	0	14,585	0	0
SPDR BARCLAYS HY BOND ETF	BRCLYS YLD ETF	78464A417	4,954	125,463	SH		SOLE	0	125,463	0	0
SPECTRA ENERGY CORP	COM	847560109	208	6,038	SH		SOLE	0	6,038	0	0
STATE STREET CORPORATION	COM	857477103	261	4,000	SH		SOLE	0	4,000	0	0
TARGET CORPORATION	COM	87612E106	5,694	82,694	SH		SOLE	0	81,354	0	1,340
TC PIPELINES LP	UT COM LTD PRT	87233Q108	584	12,094	SH		SOLE	0	12,094	0	0
THERMO FISHER SCIENTIFIC INC	COM	883556102	4,716	55,720	SH		SOLE	0	53,870	0	1,850
UNITED TECHNOLOGIES CORP	COM	913017109	6,880	74,032	SH		SOLE	0	72,492	0	1,540
UNIVERSAL INSURANCE HOLDINGS INC	COM	91359V107	743	105,000	SH		SOLE	0	105,000	0	0
US BANCORP	COM NEW	902973304	3,290	91,012	SH		SOLE	0	88,312	0	2,700
VANGUARD GROWTH ETF	GROWTH ETF	922908736	1,368	17,500	SH		SOLE	0	17,500	0	0
VANGUARD HEALTH CARE	HEALTH CAR ETF	92204A504	375	4,338	SH		SOLE	0	4,338	0	0
VANGUARD MID CAP GROWTH INDEX	MCAP GR IDXVIP	922908538	2,172	27,800	SH		SOLE	0	27,800	0	0
VANGUARD MID CAP VALUE INDEX FUND	MCAP VL IDXVIP	922908512	674	9,812	SH		SOLE	0	9,812	0	0
VANGUARD SMALL CAP GROWTH ETF	SML CP GRW ETF	922908595	2,501	24,294	SH		SOLE	0	24,294	0	0
VANGUARD SMALL CAP VALUE	SM CP VAL ETF	922908611	1,281	15,310	SH		SOLE	0	15,310	0	0
VERIZON COMMUNICATIONS	COM	92343V104	550	10,931	SH		SOLE	0	10,931	0	0
VODAFONE GROUP PLC SP ADR	SPONS ADR NEW	92857W209	899	31,255	SH		SOLE	0	31,255	0	0
WAL MART STORES INC	COM	931142103	280	3,758	SH		SOLE	0	3,758	0	0
WALT DISNEY COMPANY	COM DISNEY	254687106	666	10,548	SH		SOLE	0	10,548	0	0
WELLS FARGO COMPANY	COM	949746101	9,098	220,458	SH		SOLE	0	215,786	0	4,672
ZOETIS INC	CL A	98978V103	821	26,576	SH		SOLE	0	26,356	0	220