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	2,210	15,602	SH		SOLE	0	15,602	0	0
ABBOTT LABORATORIES	COM	2824100	5,030	120,949	SH		SOLE	0	120,614	0	335
ABERDEEN ASIA-PACIFIC PRIME INCOME FUND	COM	3009107	187	31,650	SH		SOLE	0	31,650	0	0
AFLAC INC	COM	1055102	1,294	22,207	SH		SOLE	0	22,207	0	0
ALERIAN MLP ETF	ALERIAN MLP	00162Q866	3,696	192,806	SH		SOLE	0	192,806	0	0
AMERICAN EXPRESS	COM	25816109	2,246	25,655	SH		SOLE	0	25,655	0	0
APPLE COMPUTER	COM	37833100	15,191	150,783	SH		SOLE	0	150,313	0	470
AT&T INC	COM	00206R102	5,113	145,098	SH		SOLE	0	144,723	0	375
AUTOMATIC DATA PROCESSING INC	COM	53015103	2,820	33,941	SH		SOLE	0	33,841	0	100
AUTOZONE INC	COM	53332102	221	434	SH		SOLE	0	434	0	0
BANK OF AMERICA CORPORATION	COM	60505104	5,251	307,951	SH		SOLE	0	307,651	0	300
BERKSHIRE HATHAWAY INC-CL B	CL B NEW	84670702	218	1,580	SH		SOLE	0	1,580	0	0
BOEING COMPANY	COM	97023105	9,528	74,802	SH		SOLE	0	74,537	0	265
CELGENE CORP	COM	151020104	253	2,670	SH		SOLE	0	2,670	0	0
CHARLES SCHWAB CORPORATION	COM	808513105	262	8,925	SH		SOLE	0	8,925	0	0
CHEVRON CORP	COM	166764100	3,974	33,308	SH		SOLE	0	33,193	0	115
CIGNA CORPORATION	COM	125509109	4,530	49,946	SH		SOLE	0	49,831	0	115
CISCO SYSTEMS INC	COM	17275R102	8,191	325,420	SH		SOLE	0	324,300	0	1,120
COCA COLA COMPANY	COM	191216100	3,548	83,163	SH		SOLE	0	83,163	0	0
COHEN & STEERS REALTY MAJORS INDEX	COHE&ST RLTY	464287564	1,341	15,876	SH		SOLE	0	15,876	0	0
COMCAST CORP CL A	CL A	20030N101	201	3,730	SH		SOLE	0	3,730	0	0
COMCAST CORPORATION CL A SPECIAL	CL A SPL	20030N200	7,078	132,291	SH		SOLE	0	132,191	0	100
CORE S&P 500	S&P 500 INDEX	464287200	9,036	45,574	SH		SOLE	0	45,574	0	0
CORE S&P MIDCAP	S&P MIDCAP 400	464287507	768	5,615	SH		SOLE	0	5,615	0	0
CORE S&P SMALLCAP 600 INDEX	S&P SMLCAP 600	464287804	410	3,934	SH		SOLE	0	3,934	0	0
COSTCO WHOLESALE CORPORATION	COM	22160K105	6,647	53,044	SH		SOLE	0	52,894	0	150
COVIDIEN PLC	SHS	G2554F113	2,650	30,637	SH		SOLE	0	30,597	0	40
CSX CORPORATION	COM	126408103	4,874	152,015	SH		SOLE	0	151,890	0	125
CVS HEALTH CORPORATION	COM	126650100	3,358	42,192	SH		SOLE	0	42,022	0	170
DEERE & CO	COM	244199105	1,000	12,199	SH		SOLE	0	12,199	0	0
DELTA AIR LINES INC	COM NEW	247361702	3,512	97,164	SH		SOLE	0	96,909	0	255
DIRECTV	COM CL A	25490A309	7,693	88,918	SH		SOLE	0	88,538	0	380
DOW CHEMICAL CO	COM	260543103	251	4,781	SH		SOLE	0	4,781	0	0
DU PONT E I DE NEMOURS & CO	COM	263534109	229	3,185	SH		SOLE	0	3,185	0	0
DUKE ENERGY CORPORATION	COM	26441C204	375	5,020	SH		SOLE	0	5,020	0	0
EBAY INC	COM	278642103	7,302	128,939	SH		SOLE	0	128,599	0	340
EMC CORP-MASS	COM	268648102	9,542	326,106	SH		SOLE	0	325,216	0	890
ENBRIDGE ENERGY PARTNERS LP	COM	29250R106	353	9,080	SH		SOLE	0	9,080	0	0
ENERGY SELECT SECTOR SPDR FUND	SBI INT-ENERGY	81369Y506	258	2,844	SH		SOLE	0	2,844	0	0
ENTERPRISE PRODUCTS PARTNERS	COM	293792107	298	7,406	SH		SOLE	0	7,406	0	0
ESTEE LAUDER COMPANIES CL A	CL A	518439104	5,002	66,949	SH		SOLE	0	66,764	0	185
EXXON MOBIL CORPORATION	COM	30231G102	12,942	137,610	SH		SOLE	0	137,545	0	65
FACEBOOK INC	CL A	30303M102	712	9,005	SH		SOLE	0	9,005	0	0
FEDEX CORPORATION	COM	31428X106	9,684	59,984	SH		SOLE	0	59,779	0	205
FINANCIAL SELECT SECTOR SPDR	SBI INT-FINL	81369Y605	3,172	136,887	SH		SOLE	0	136,887	0	0
FIRST HORIZON NATIONAL CORPORATION	COM	320517105	596	48,500	SH		SOLE	0	48,500	0	0
FLUOR CORPORATION	COM	343412102	4,324	64,738	SH		SOLE	0	64,663	0	75
FORD MOTOR COMPANY	COM PAR $0.01	345370860	7,587	513,015	SH		SOLE	0	511,465	0	1,550
FREEPORT McMORAN INC	COM	35671D857	5,637	172,659	SH		SOLE	0	172,224	0	435
GENERAL ELECTRIC COMPANY	COM	369604103	9,624	375,650	SH		SOLE	0	374,530	0	1,120
GILEAD SCIENCES INC	COM	375558103	4,246	39,889	SH		SOLE	0	39,749	0	140
GOOGLE INC CL A	CL A SPL	38259P508	4,888	8,307	SH		SOLE	0	8,286	0	21
GOOGLE INC CL C	CL C	38259P706	4,858	8,415	SH		SOLE	0	8,394	0	21
HALLIBURTON COMPANY	COM	406216101	8,551	132,547	SH		SOLE	0	132,047	0	500
HOLLYFRONTIER CORP	COM	436106108	2,444	55,954	SH		SOLE	0	55,704	0	250
i SHARES RUSSELL 2000 INDEX FUND	RUSSELL 2000 ETF	464287655	252	2,304	SH		SOLE	0	2,304	0	0
INTEL CORPORATION	COM	458140100	604	17,344	SH		SOLE	0	17,344	0	0
INTERNATIONAL BUSINESS MACHINE	COM	459200101	380	2,001	SH		SOLE	0	2,001	0	0
INVESTCO LIMITED	SHS	G491BT108	2,856	72,350	SH		SOLE	0	72,065	0	285
iSHARES BARCLAYS 1-3 YEAR CREDIT BOND	BARCLYS 1-3YR CR	464288646	2,988	28,380	SH		SOLE	0	28,380	0	0
iSHARES BARCLAYS 7-10 YR TREAS BND FND	BARCLYS 7-10 YR	464287440	556	5,369	SH		SOLE	0	5,369	0	0
iSHARES BARCLAYS INT CR BOND FUND	BARCLYS INTER CR	464288638	975	8,920	SH		SOLE	0	8,920	0	0
iSHARES BARCLAYS INT GOV/CRED BOND FND	BARCLYS INTER GV	464288612	3,030	27,480	SH		SOLE	0	27,480	0	0
iSHARES BARCLAYS MBS BOND FUND	BARCLYS MBS BD	464288588	1,081	9,997	SH		SOLE	0	9,997	0	0
iSHARES CORE MSCI EAFE ETF	CORE MSCI EAFE	46432F842	16,645	285,798	SH		SOLE	0	285,798	0	0
iSHARES CORE US AGGREGATE BOND	CORE TOTUSBD ETF	464287226	661	6,058	SH		SOLE	0	6,058	0	0
iSHARES DJ SELECT DIVIDEND INDEX FUND	DJ SEL DIV INX	464287168	6,583	89,132	SH		SOLE	0	89,132	0	0
iSHARES DOW JONES EPAC DIVIDEND	INTL SEL DIV ETF	464288448	339	9,481	SH		SOLE	0	9,481	0	0
iSHARES DOW JONES U.S. TELECOM SECTOR	U.S. TELECOM ETF	464287713	223	7,450	SH		SOLE	0	7,450	0	0
iSHARES DOW JONES U.S. UTILITIES SECTOR	DJ US UTILS	464287697	266	2,526	SH		SOLE	0	2,526	0	0
iSHARES IBOXX H/Y CORP BOND	HIGH YLD CORP	464288513	1,140	12,399	SH		SOLE	0	12,399	0	0
iSHARES LEHMAN 1-3 YEAR TREASURY	BARCLYS 1-3 YR	464287457	212	2,506	SH		SOLE	0	2,506	0	0
iSHARES MSCI BRIC INDEX FUND	MSCI BRIC INDX	464286657	239	6,431	SH		SOLE	0	6,431	0	0
iSHARES MSCI EAFE GROWTH INDEX	MSCI GRW IDX	464288885	1,547	22,725	SH		SOLE	0	22,725	0	0
iSHARES MSCI EMERGING MKT MIN VOL	EM MKT MIN VOL	464286533	1,690	28,259	SH		SOLE	0	28,259	0	0
ISHARES MSCI PACIFIC EX JAPAN	MSCI PAC JP ETF	464286665	240	5,211	SH		SOLE	0	5,211	0	0
iSHARES S&P 100 INDEX FUND	S&P 100 ETF	464287101	2,725	30,909	SH		SOLE	0	30,909	0	0
iSHARES S&P GSCI COMMODITY INDEX TR I	UNIT BEN INT	46428R107	325	10,978	SH		SOLE	0	10,978	0	0
iSHARES S&P MIDCAP 400 VALUE INDEX	S&P MIDCP VALU	464287705	1,061	8,816	SH		SOLE	0	8,816	0	0
iSHARES S&P MIDCAP GROWTH INDEX	S&P MC 400 GRW	464287606	1,708	11,277	SH		SOLE	0	11,277	0	0
iSHARES S&P US PREF STOCK INDEX FUND	US PFD STK IDX	464288687	354	8,967	SH		SOLE	0	8,967	0	0
JOHNSON & JOHNSON	COM	478160104	9,470	88,848	SH		SOLE	0	88,543	0	305
KELLOGG CO	COM	487836108	374	6,075	SH		SOLE	0	6,075	0	0
KINDER MORGAN ENERGY PARTNERS LP	UT LTD PARTNER	494550106	3,067	32,878	SH		SOLE	0	32,878	0	0
LORILLARD INC	COM	544147101	2,624	43,801	SH		SOLE	0	43,801	0	0
LOWE'S COMPANIES INC	COM	548661107	8,149	153,984	SH		SOLE	0	153,564	0	420
MARATHON OIL CORP	COM	565849106	7,458	198,414	SH		SOLE	0	197,769	0	645
MEDTRONIC INC	COM	585055106	1,314	21,217	SH		SOLE	0	21,217	0	0
MERCK & COMPANY	COM	58933Y105	31,379	529,332	SH		SOLE	0	529,072	0	260
MICHAEL KORS HOLDINGS LTD	SHS	G60754101	4,331	60,671	SH		SOLE	0	60,501	0	170
MICROSOFT CORPORATION	COM	594918104	18,661	402,521	SH		SOLE	0	401,746	0	775
MONDELEZ INTERNATIONAL INC	CL A	609207105	5,701	166,386	SH		SOLE	0	165,926	0	460
MSCI EAFE INDEX	MSCI EAFE INDEX	464287465	5,976	93,204	SH		SOLE	0	93,204	0	0
MSCI EMERGING MARKETS INDEX	MSCI EMERG MKT	464287234	1,302	31,339	SH		SOLE	0	31,339	0	0
ORACLE CORPORATION	COM	68389X105	5,598	146,236	SH		SOLE	0	145,676	0	560
PEPSICO INC	COM	713448108	9,543	102,513	SH		SOLE	0	102,173	0	340
PFIZER INC	COM	717081103	2,472	83,611	SH		SOLE	0	83,611	0	0
PIMCO ENHANCED SHORT MATURITY	ENHAN SHRT MAT	72201R833	379	3,741	SH		SOLE	0	3,741	0	0
POWERSHARES SENIOR LOAN PORTFOLIO	SENIOR LN PORT	73936Q769	279	11,489	SH		SOLE	0	500	0	10,989
PROCTER & GAMBLE COMPANY	COM	742718109	7,808	93,242	SH		SOLE	0	92,982	0	260
QUALCOMM INC	COM	747525103	3,930	52,560	SH		SOLE	0	52,385	0	175
REGIONS FINANCIAL CORP	COM	7591EP100	527	52,529	SH		SOLE	0	52,529	0	0
RUSSELL 1000 GROWTH INDEX	RUSSELL1000GRW	464287614	8,974	97,936	SH		SOLE	0	97,936	0	0
RUSSELL 1000 VALUE INDEX	RUSSELL1000VAL	464287598	1,042	10,413	SH		SOLE	0	10,413	0	0
RUSSELL 2000 GROWTH INDEX	RUSL 2000 GROW	464287648	1,491	11,498	SH		SOLE	0	11,498	0	0
RUSSELL 2000 VALUE INDEX	RUSL 2000 VALU	464287630	717	7,665	SH		SOLE	0	7,665	0	0
RUSSELL MIDCAP GROWTH INDEX	RUSSELL MCP GR	464287481	2,459	27,833	SH		SOLE	0	27,833	0	0
RUSSELL MIDCAP INDEX	RUSSELL MIDCAP	464287499	385	2,432	SH		SOLE	0	2,432	0	0
RUSSELL MIDCAP VALUE INDEX	RUSSELL MCP VL	464287473	1,239	17,705	SH		SOLE	0	17,705	0	0
S&P 500 DEPOSITARY RECEIPTS	TR UNIT	78462F103	3,920	19,898	SH		SOLE	0	19,898	0	0
S&P NATIONAL MUNICIPAL BOND FUND	NAT AMT FREE BD	464288414	270	2,460	SH		SOLE	0	2,460	0	0
SCHLUMBERGER LTD	COM	806857108	8,855	87,080	SH		SOLE	0	86,755	0	325
SCHWAB US BROAD MARKET ETF	US BRD MKT ETF	808524102	949	19,963	SH		SOLE	0	19,963	0	0
SEADRILL LTD	SHS	G7945E105	268	10,000	SH		SOLE	0	10,000	0	0
SOFTBANK CORP	ADR	83404D109	3,644	104,240	SH		SOLE	0	104,155	0	85
SPDR BARCLAYS HY BOND ETF	BRCLYS YLD ETF	78464A417	4,084	101,631	SH		SOLE	0	94,956	0	6,675
SPDR BARCLAYS SHORT TERM COR	BARC SHT TR CP	78464A474	5,983	194,946	SH		SOLE	0	194,946	0	0
SPECTRA ENERGY CORP	COM	847560109	232	5,921	SH		SOLE	0	5,921	0	0
STATE STREET CORPORATION	COM	857477103	258	3,500	SH		SOLE	0	3,500	0	0
TC PIPELINES LP	UT COM LTD PRT	87233Q108	431	6,370	SH		SOLE	0	6,370	0	0
THERMO FISHER SCIENTIFIC INC	COM	883556102	6,159	50,605	SH		SOLE	0	50,405	0	200
TWENTY-FIRST CENTURY FOX INC	CL A	90130A101	4,005	116,810	SH		SOLE	0	116,375	0	435
UNITED TECHNOLOGIES CORP	COM	913017109	7,212	68,292	SH		SOLE	0	68,042	0	250
UNIVERSAL INSURANCE HOLDINGS INC	COM	91359V107	1,293	100,000	SH		SOLE	0	100,000	0	0
US BANCORP	COM NEW	902973304	4,504	107,667	SH		SOLE	0	107,252	0	415
USD EMERGING MARKETS BOND FUND	JP MOR EM MK ETF	464288281	300	2,658	SH		SOLE	0	148	0	2,510
VANGUARD DIVIDEND APP INDEX FUND	DIV APP ETF	921908844	713	9,265	SH		SOLE	0	0	0	9,265
VANGUARD EMERGING MARKETS ETF	FTSE EMR MKT ETF	922042858	391	9,375	SH		SOLE	0	150	0	9,225
VANGUARD FTSE ALL WORLD US SMALL CAP	FTSE SMCAP ETF	922042718	263	2,575	SH		SOLE	0	0	0	2,575
VANGUARD FTSE DEVELOPED MARKETS ETF	FTSE DEV MKT ETF	921943858	909	22,875	SH		SOLE	0	675	0	22,200
VANGUARD GROWTH ETF	GROWTH ETF	922908736	3,299	33,100	SH		SOLE	0	33,100	0	0
VANGUARD HEALTH CARE	HEALTH CAR ETF	92204A504	656	5,608	SH		SOLE	0	5,608	0	0
VANGUARD INT-TERM CORP BOND ETF	INT-TERM CORP	92206C870	478	5,575	SH		SOLE	0	0	0	5,575
VANGUARD MID CAP GROWTH INDEX	MCAP GR IDXVIP	922908538	3,483	36,176	SH		SOLE	0	30,116	0	6,060
VANGUARD MID CAP VALUE INDEX FUND	MCAP VL IDXVIP	922908512	1,513	17,826	SH		SOLE	0	13,376	0	4,450
VANGUARD MSCI EUROPEAN ETF	FTSE EUROPE ETF	922042874	209	3,785	SH		SOLE	0	3,785	0	0
VANGUARD REIT ETF	REIT ETF	922908553	325	4,530	SH		SOLE	0	630	0	3,900
VANGUARD SMALL CAP GROWTH ETF	SML CP GRW ETF	922908595	3,235	26,881	SH		SOLE	0	24,556	0	2,325
VANGUARD SMALL CAP VALUE	SM CP VAL ETF	922908611	3,693	37,025	SH		SOLE	0	35,170	0	1,855
VANGUARD ST BOND	SHORT TRM BOND	921937827	737	9,207	SH		SOLE	0	1,432	0	7,775
VANGUARD TOTAL BOND MARKET	TOTAL BND MRKT	921937835	1,318	16,083	SH		SOLE	0	258	0	15,825
VANGUARD US TOTAL STOCK MARKET ETF	TOTAL STK MKT	922908769	867	8,568	SH		SOLE	0	438	0	8,130
VERIZON COMMUNICATIONS	COM	92343V104	1,009	20,182	SH		SOLE	0	20,182	0	0
VODAFONE GROUP PLC SP ADR	SPNSR ADR NO PAR	92857W308	562	17,080	SH		SOLE	0	17,080	0	0
WAL MART STORES INC	COM	931142103	511	6,686	SH		SOLE	0	6,686	0	0
WALT DISNEY COMPANY	COM DISNEY	254687106	1,006	11,299	SH		SOLE	0	11,299	0	0
WELLS FARGO COMPANY	COM	949746101	11,449	220,716	SH		SOLE	0	219,959	0	757
YAHOO INC	COM	984332106	257	6,300	SH		SOLE	0	6,300	0	0
ZOETIS INC	CL A	98978V103	886	23,969	SH		SOLE	0	23,969	0	0