Filing Details
- Accession Number:
- 0001193125-19-040769
- Form Type:
- 13G Filing
- Publication Date:
- 2019-02-14 16:05:34
- Filed By:
- Nexpoint Strategic Opportunities Fund
- Company:
- United Development Funding Iv (NASDAQ:UDF)
- Filing Date:
- 2019-02-14
- SEC Url:
- 13G Filing
Please notice the below summary table is generated without human intervention and may contain errors. Please refer to the complete filing displayed below for exact figures.
| Name | Sole Voting Power | Shared Voting Power | Sole Dispositive Power | Shared Dispositive Power | Aggregate Amount Owned Power | Percent of Class |
|---|---|---|---|---|---|---|
| NexPoint Strategic Opportunities Fund | 1,644,786 | 0 | 1,644,786 | 0 | 1,644,786 | 5.4% |
| NexPoint Advisors | 0 | 1,699,815 | 0 | 1,699,815 | 1,699,815 | 5.5% |
| NexPoint Advisors GP | 0 | 1,699,815 | 0 | 1,699,815 | 1,699,815 | 5.5% |
| James D. Dondero | 0 | 2,062,328 | 0 | 2,062,328 | 2,062,328 | 6.7% |
SECURITIES AND EXCHANGE COMMISSION
Washington, DC 20549
SCHEDULE 13G
(Rule 13d-102)
INFORMATION TO BE INCLUDED IN STATEMENTS FILED PURSUANT TO
RULES 13d-1(b), (c) AND (d) AND AMENDMENTS THERETO FILED
PURSUANT TO RULE 13d-2
UNDER THE SECURITIES EXCHANGE ACT OF 1934
United Development Funding IV
(Name of Issuer)
Common Shares of Beneficial Interest, $0.01 par value per share
(Title of Class of Securities)
910187103
(CUSIP Number)
December 31, 2018
(Date of Event Which Requires Filing of this Statement)
Check the appropriate box to designate the rule pursuant to which this Schedule is filed:
☒ Rule 13d-1(b)
☐ Rule 13d-1(c)
☐ Rule 13d-1(d)
| CUSIP No. 910187103 | 13G | Page 2 of 10 |
| 1 | NAME OF REPORTING PERSONS
NexPoint Strategic Opportunities Fund | |||||
| 2 | CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP* (a) ☐ (b) ☐
| |||||
| 3 | SEC USE ONLY
| |||||
| 4 | CITIZENSHIP OR PLACE OF ORGANIZATION
Delaware | |||||
| NUMBER OF SHARES BENEFICIALLY OWNED BY EACH REPORTING PERSON WITH | 5 | SOLE VOTING POWER
1,644,786** | ||||
| 6 | SHARED VOTING POWER
0** | |||||
| 7 | SOLE DISPOSITIVE POWER
1,644,786** | |||||
| 8 | SHARED DISPOSITIVE POWER
0** | |||||
| 9 | AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
1,644,786** | |||||
| 10 | CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (9) EXCLUDES CERTAIN SHARES*
☐ | |||||
| 11 | PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW 9
5.4%** | |||||
| 12 | TYPE OF REPORTING PERSON*
IV, OO | |||||
| * | SEE INSTRUCTIONS BEFORE FILLING OUT |
| ** | SEE ITEM 4 |
| CUSIP No. 910187103 | 13G | Page 3 of 10 |
| 1 | NAME OF REPORTING PERSONS
NexPoint Advisors, L.P. | |||||
| 2 | CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP* (a) ☐ (b) ☐
| |||||
| 3 | SEC USE ONLY
| |||||
| 4 | CITIZENSHIP OR PLACE OF ORGANIZATION
Delaware | |||||
| NUMBER OF SHARES BENEFICIALLY OWNED BY EACH REPORTING PERSON WITH | 5 | SOLE VOTING POWER
0** | ||||
| 6 | SHARED VOTING POWER
1,699,815** | |||||
| 7 | SOLE DISPOSITIVE POWER
0** | |||||
| 8 | SHARED DISPOSITIVE POWER
1,699,815** | |||||
| 9 | AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
1,699,815** | |||||
| 10 | CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (9) EXCLUDES CERTAIN SHARES*
☐ | |||||
| 11 | PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW 9
5.5%** | |||||
| 12 | TYPE OF REPORTING PERSON*
IA, PN | |||||
| * | SEE INSTRUCTIONS BEFORE FILLING OUT |
| ** | SEE ITEM 4. |
| CUSIP No. 910187103 | 13G | Page 4 of 10 |
| 1 | NAME OF REPORTING PERSONS
NexPoint Advisors GP, LLC | |||||
| 2 | CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP* (a) ☐ (b) ☐
| |||||
| 3 | SEC USE ONLY
| |||||
| 4 | CITIZENSHIP OR PLACE OF ORGANIZATION
Delaware | |||||
| NUMBER OF SHARES BENEFICIALLY OWNED BY EACH REPORTING PERSON WITH | 5 | SOLE VOTING POWER
0 | ||||
| 6 | SHARED VOTING POWER
1,699,815** | |||||
| 7 | SOLE DISPOSITIVE POWER
0 | |||||
| 8 | SHARED DISPOSITIVE POWER
1,699,815** | |||||
| 9 | AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
1,699,815** | |||||
| 10 | CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (9) EXCLUDES CERTAIN SHARES*
☐ | |||||
| 11 | PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW 9
5.5%** | |||||
| 12 | TYPE OF REPORTING PERSON*
HC, OO | |||||
| * | SEE INSTRUCTIONS BEFORE FILLING OUT |
| ** | SEE ITEM 4. |
| CUSIP No. 910187103 | 13G | Page 5 of 10 |
| 1 | NAME OF REPORTING PERSONS
James D. Dondero | |||||
| 2 | CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP* (a) ☐ (b) ☐
| |||||
| 3 | SEC USE ONLY
| |||||
| 4 | CITIZENSHIP OR PLACE OF ORGANIZATION
United States | |||||
| NUMBER OF SHARES BENEFICIALLY OWNED BY EACH REPORTING PERSON WITH | 5 | SOLE VOTING POWER
0 | ||||
| 6 | SHARED VOTING POWER
2,062,328** | |||||
| 7 | SOLE DISPOSITIVE POWER
0 | |||||
| 8 | SHARED DISPOSITIVE POWER
2,062,328** | |||||
| 9 | AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
2,062,328** | |||||
| 10 | CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (9) EXCLUDES CERTAIN SHARES*
☐ | |||||
| 11 | PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW 9
6.7%** | |||||
| 12 | TYPE OF REPORTING PERSON*
HC, IN | |||||
| * | SEE INSTRUCTIONS BEFORE FILLING OUT |
| ** | SEE ITEM 4. |
SCHEDULE 13G
This Schedule 13G (this Schedule 13G) is being filed on behalf of NexPoint Strategic Opportunities Fund, a Delaware statutory trust (the Strategic Fund), NexPoint Advisors, L.P., a Delaware limited partnership (NexPoint), NexPoint Advisors GP, LLC, a Delaware limited liability company (NexPoint GP), and James D. Dondero (collectively, the Reporting Persons).
James D. Dondero is the President of NexPoint GP. NexPoint GP is the general partner of NexPoint. NexPoint serves as the investment advisor to the Strategic Fund and certain other funds (together with the Strategic Fund, the Nexpoint Funds). This Schedule 13G relates to the Common Shares of Beneficial Interest, $0.01 par value per share (the Common Stock), of United Development Funding IV, a Maryland real estate investment trust (the Issuer), held by (i) the NexPoint Funds and (ii) certain managed accounts ultimately advised by James D. Dondero (together with the NexPoint Funds, the Funds).
| Item 1(a) | Name of Issuer. |
United Development Funding IV
| Item 1(b) | Address of Issuers Principal Executive Offices. |
1301 Municipal Way
Suite 100
Grapevine, Texas 76051
| Item 2(a) | Name of Person Filing. |
(1) NexPoint Strategic Opportunities Fund
(2) NexPoint Advisors, L.P.
(3) NexPoint Advisors GP, LLC
(4) James D. Dondero
| Item 2(b) | Address of Principal Business Office, or, if none, Residence. |
For all Filers:
300 Crescent Court, Suite 700
Dallas, Texas 75201
| Item 2(c) | Citizenship or Place of Organization. |
(1) NexPoint Strategic Opportunities Fund is a Delaware statutory trust
(2) NexPoint Advisors, L.P. is a Delaware limited partnership
(3) NexPoint Advisors GP, LLC is a Delaware limited liability company
(4) James D. Dondero is a United States citizen
| Item 2(d) | Title of Class of Securities. |
Common Shares of Beneficial Interest, $0.01 par value per share
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| Item 2(e) | CUSIP Number. |
910187103
| Item 3 | Reporting Person. |
If this statement is filed pursuant to Rule 13d-1(b), or 13d-2(b), check whether the person filing is a:
| (a) | ☐ | Broker or dealer registered under section 15 of the Act (15 U.S.C. 78o). | ||
| (b) | ☐ | Bank as defined in section 3(a)(6) of the Act (15 U.S.C. 78c). | ||
| (c) | ☐ | Insurance company as defined in section 3(a)(19) of the Act (15 U.S.C. 78c). | ||
| (d) | ☒ | Investment company registered under section 8 of the Investment Company Act of 1940 (15 U.S.C. 80a-8). | ||
| (e) | ☒ | An investment advisor in accordance with §240.13d-1(b)(1)(ii)(E). | ||
| (f) | ☐ | An employee benefit plan or endowment fund in accordance with §240.13d-1(b)(1)(ii)(F). | ||
| (g) | ☒ | A parent holding company or control person in accordance with §240.13d-1(b)(1)(ii)(G). | ||
| (h) | ☐ | A savings association as defined in Section 3(b) of the Federal Deposit Insurance Act (12 U.S.C. 1813). | ||
| (i) | ☐ | A church plan that is excluded from the definition of an investment company under Section 3(c)(14) of the Investment Company Act of 1940 (15 U.S.C. 80a-3). | ||
| (j) | ☐ | Group, in accordance with §240.13d-1(b)(1)(ii)(J). | ||
| Item 4 | Ownership. |
| (a) | The Strategic Fund may be deemed the beneficial owner of 1,644,786 shares of Common Stock that it holds directly. |
| As the investment advisor of the NexPoint Funds, NexPoint and NexPoint GP, as the general partner of NexPoint, may be deemed the beneficial owners of the 1,699,815 shares of Common Stock held by the NexPoint Funds. |
7
| Mr. Dondero may be deemed the beneficial owner of the 2,062,328 shares of Common Stock held by the Funds. |
| (b) | The Strategic Fund may be deemed the beneficial owner of 5.4% of the outstanding Common Stock. This percentage was determined by dividing 1,644,786, the number of shares of Common Stock held directly by the Strategic Fund, by 30,672,626, which is the number of shares of Common Stock outstanding as of November 4, 2015 according to the Issuers Quarterly Report on Form 10-Q filed with the Securities Exchange Commission on November 9, 2015. |
| NexPoint and NexPoint GP may be deemed the beneficial owner of 5.5% of the outstanding Common Stock. This percentage was determined by dividing 1,699,815, the number of shares of Common Stock held directly by the NexPoint Funds, by 30,672,626, which is the number of shares of Common Stock outstanding as of November 4, 2015 according to the Issuers Quarterly Report on Form 10-Q filed with the Securities Exchange Commission on November 9, 2015. |
| Mr. Dondero may be deemed the beneficial owner of 6.7% of the outstanding Common Stock. This percentage was determined by dividing 2,062,328, the number of shares of Common Stock held directly by the Funds, by 30,672,626, which is the number of shares of Common Stock outstanding as of November 4, 2015 according to the Issuers Quarterly Report on Form 10-Q filed with the Securities Exchange Commission on November 9, 2015. |
| (c) | The Strategic Fund has the sole power to vote and dispose of the 1,644,786 shares of Common Stock that it holds directly. |
| NexPoint and NexPoint GP have the shared power to vote and dispose of the 1,699,815 shares of Common Stock held by the NexPoint Funds. |
| Mr. Dondero has the the shared power to vote and dispose of the 2,062,328 shares of Common Stock held by the Funds. |
| Item 5 | Ownership of Five Percent or Less of a Class. |
Inapplicable.
| Item 6 | Ownership of More Than Five Percent on Behalf of Another Person. |
Inapplicable.
| Item 7 | Identification and Classification of the Subsidiary which Acquired the Security Being Reported On by the Parent Holding Company. |
Inapplicable.
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| Item 8 | Identification and Classification of Members of the Group. |
Inapplicable.
| Item 9 | Notice of Dissolution of Group. |
Inapplicable.
| Item 10 | Certification. |
By signing below each of the Reporting Persons certifies that, to the best of such persons knowledge and belief, the securities referred to above were not acquired and are not held for the purpose of or with the effect of changing or influencing the control of the issuer of the securities and were not acquired and are not held in connection with or as a participant in any transaction having that purpose or effect.
| Exhibits | Exhibit 99-1 | |
| Joint Filing Agreement, dated February 14, 2019, by and among the Strategic Fund, NexPoint, NexPoint GP and James D. Dondero. | ||
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SIGNATURE
After reasonable inquiry and to the best of my knowledge and belief, I certify that the information set forth in this statement is true, complete and correct.
Date: February 14, 2019
| NEXPOINT STRATEGIC OPPORTUNITIES FUND | ||||
| By: NexPoint Advisors, L.P., its investment manager | ||||
| By: NexPoint Advisors GP, LLC, its general partner | ||||
| By: | /s/ Dustin Norris | |||
| Name: Dustin Norris | ||||
| Title: Secretary | ||||
| NEXPOINT ADVISORS, L.P. | ||||
| By: NexPoint Advisors GP, LLC, its general partner | ||||
| By: | /s/ Dustin Norris | |||
| Name: Dustin Norris | ||||
| Title: Secretary | ||||
| NEXPOINT ADVISORS GP, LLC | ||||
| By: | /s/ Dustin Norris | |||
| Name: Dustin Norris | ||||
| Title: Secretary | ||||
| /s/ James D. Dondero | ||||
| James D. Dondero | ||||
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