13F-HR 1 d13fhr.txt HOLDINGS REPORT UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 13F Form 13F Cover Page Report for the Calendar Year or Quarter Ended: September 30, 2006 -------------------------------------------------------------------------------- Check here if Amendment [ ]; Amendment Number: ______ This Amendment (Check only one.): [ ] is a restatement. [ ] adds new holdings entries. -------------------------------------------------------------------------------- -------------------------------------------------------------------------------- Institutional Investment Manager Filing this Report: Name: Highfields Capital Management LP Address: John Hancock Tower 200 Clarendon Street, 51st Floor Boston, MA 02116 -------------------------------------------------------------------------------- Form 13F File Number: 28-3499 The institutional investment manager filing this report and the person by whom it is signed hereby represent that the person signing the report is authorized to submit it, that all information contained herein is true, correct and complete, and that it is understood that all required items, statements, schedules, lists, and tables, are considered integral parts of this form. Person Signing this Report on Behalf of Reporting Manager: Name:. Joseph F. Mazzella Title: General Counsel Phone: 617-850-7520 Signature, Place, and Date of Signing: /s/ Joseph F. Mazzella Boston, Massachusetts November 14, 2006 ------------------------ ------------------------ ------------------------ Report Type (Check only one.) [X] 13F HOLDINGS REPORT. (Check here if all holdings of this reporting manager are reported in this report.) [ ] 13F NOTICE. (Check here if no holdings reported are in this report, and all holdings are reported by other reporting manager(s).) [ ] 13F COMBINATION REPORT. (Check here if a portion of the holdings of this reporting manager are reported in this report and a portion are reported by other reporting manager(s).) List of other managers reporting for this manager: NONE. FORM 13F SUMMARY PAGE Report Summary: Number of Other Included Managers: 2 Form 13F Information Table Entry Total: 87 Form 13F Information Table Value Total: $7,308,459 (x 1000) List of Other Included Managers: Provide a numbered list of name(s) and Form 13F file number(s) of all institutional investment managers with respect to which this report is filed, other than the manager filing this report. No. Form 13F File Number Name --- -------------------- -------------------- 01. File Number 28-7618 Jonathon S. Jacobson 02. File Number 28-7616 Richard L. Grubman ================================================================================ FORM 13F Page 2 of 4 Name of Reporting Manager: Highfields Capital Management LP ================================================================================

Item 1: Item 2: Item 3: Item 4: Item 5: Item 6: Item 7: Item 8: ---VOTING AUTHORITY--- VALUE SHRS OR SH/ PUT/ INVESTMENT OTHER NAME OF ISSUER TITLE OF CLASS CUSIP (x$1000) PRN AMT PRN CALL DISCRETION MANAGERS SOLE SHARED NONE -------------- ---------------- --------- -------- ---------- --- ---- ---------- -------- ---------- ------ ---- Altria Group Inc COM 02209S103 176,065 2,300,000 SH OTHER 01/02 2,300,000 Aramark Corp CL B 038521100 169,178 5,148,452 SH OTHER 01/02 5,148,452 Aspen Insurance Holdings Ltd SHS G05384105 46,406 1,796,600 SH OTHER 01/02 1,796,600 Astoria Finl Corp COM 046265104 11,954 387,849 SH OTHER 01/02 387,849 AvalonBay Cmntys Inc COM 053484101 6,020 50,000 SH PUT OTHER 01/02 50,000 Avaya Inc COM 053499109 43,215 3,777,510 SH OTHER 01/02 3,777,510 Bearingpoint Inc COM 074002106 8,215 1,045,200 SH OTHER 01/02 1,045,200 Berkshire Hathaway Inc CL A 084670108 93,884 980 SH OTHER 01/02 980 BlackRock Inc CL A 09247X101 259,224 1,739,760 SH OTHER 01/02 1,739,760 Borders Group Inc COM 099709107 20,400 1,000,000 SH OTHER 01/02 1,000,000 Boston Scientific Corp COM 101137107 185,873 12,567,500 SH OTHER 01/02 12,567,500 Canadian Ntrl Resources Ltd COM 136385101 137,292 3,012,100 SH OTHER 01/02 3,012,100 Capital Source Inc COM 14055X102 12,437 481,683 SH OTHER 01/02 481,683 Caremark RX Inc COM 141705103 80,046 1,412,500 SH OTHER 01/02 1,412,500 Celanese Corp COM SER A 150870103 33,575 1,875,700 SH OTHER 01/02 1,875,700 Centex Corp COM 152312104 107,871 2,050,000 SH OTHER 01/02 2,050,000 Clear Channel Comm Inc COM 184502102 321,080 11,129,300 SH OTHER 01/02 11,129,300 Comcast Corp CL A 20030N101 34,087 925,011 SH OTHER 01/02 925,011 Comcast Corp CL A SPL 20030N200 248,900 6,761,748 SH OTHER 01/02 6,761,748 ConocoPhillips COM 20825C104 240,263 4,036,000 SH OTHER 01/02 4,036,000 CVS Corp COM 126650100 48,180 1,500,000 SH OTHER 01/02 1,500,000 Dell Inc COM 24702R101 83,055 3,636,400 SH OTHER 01/02 3,636,400 DirecTV Group Inc COM 25459L106 351,950 17,883,624 SH OTHER 01/02 17,883,624 Dow Jones & Co Inc COM 260561105 50,310 1,500,000 SH OTHER 01/02 1,500,000 Embarq Corp COM 29078E105 7,649 158,131 SH OTHER 01/02 158,131 EMC Corp COM 268648102 2,396 200,000 SH OTHER 01/02 200,000 EnCana Corp COM 292505104 13,477 288,638 SH OTHER 01/02 288,638 Equity Residential SH BEN INT 29476L107 25,290 500,000 SH PUT OTHER 01/02 500,000 Exco Resources Inc COM 269279402 165 13,300 SH OTHER 01/02 13,300 Federal Home Ln Mtg Corp COM 313400301 138,396 2,086,480 SH OTHER 01/02 2,086,480 Federal Home Ln Mtg Corp COM 313400301 59,272 893,600 SH CALL OTHER 01/02 893,600 GAP Inc COM 364760108 162,093 8,553,744 SH OTHER 01/02 8,553,744 General Electric Co COM 369604103 3,177 90,000 SH OTHER 01/02 90,000 Harrahs Entmt Inc COM 413619107 174,764 2,630,799 SH OTHER 01/02 2,630,799 Hudson City Bancorp COM 443683107 91,745 6,924,168 SH OTHER 01/02 6,924,168 Intel Corp COM 458140100 2,468 120,000 SH OTHER 01/02 120,000 International Coal Grp Inc COM 45928H106 2,110 500,000 SH OTHER 01/02 500,000 Ishares Silver Trust ISHARES 46428Q109 42,390 370,190 SH OTHER 01/02 370,190 Ishares Tr DJ US REAL EST 464287739 7,715 100,000 SH PUT OTHER 01/02 100,000 Ishares Tr RUSSELL 2000 464287655 14,400 200,000 SH PUT OTHER 01/02 200,000 Janus Cap Group Inc COM 47102X105 87,389 4,431,481 SH OTHER 01/02 4,431,481 Knology Inc COM 499183804 10,406 1,049,039 SH OTHER 01/02 1,049,039 Legg Mason Inc COM 524901105 50,430 500,000 SH OTHER 01/02 500,000 Martin Marietta Matls Inc COM 573284106 11,847 140,000 SH OTHER 01/02 140,000 McClatchy Co CL A 579489105 104,678 2,481,104 SH OTHER 01/02 2,481,104 McDonalds Corp COM 580135101 75,130 1,920,500 SH OTHER 01/02 1,920,500 MCF Corp COM 580395101 4,916 7,125,000 SH OTHER 01/02 7,125,000 Mellon Finl Corp COM 58551A108 180,043 5,229,670 SH OTHER 01/02 5,229,670 Merrill Lynch & Co Inc COM 590188108 34,808 445,000 SH OTHER 01/02 445,000 Michaels Stores Inc COM 594087108 363,698 8,353,200 SH OTHER 01/02 8,353,200 Microsoft Corp COM 594918104 196,776 7,200,000 SH OTHER 01/02 7,200,000 Morgan Stanley COM NEW 617446448 92,924 1,274,500 SH OTHER 01/02 1,274,500 National Australia Bk Ltd CAP UTS EXCHBL 632525309 11,013 250,000 SH OTHER 01/02 250,000 National Coal Corp COM NEW 632381208 3,194 555,471 SH OTHER 01/02 555,471 New York Times Co CL A 650111107 42,168 1,835,000 SH OTHER 01/02 1,835,000 Newmont Mining Corp COM 651639106 65,835 1,540,000 SH OTHER 01/02 1,540,000 News Corp CL A 65248E104 125,669 6,395,352 SH OTHER 01/02 6,395,352 Nortel Networks Corp COM 656568102 11,467 4,985,800 SH OTHER 01/02 4,985,800 Novelis Inc COM 67000X106 40,984 1,601,563 SH OTHER 01/02 1,601,563 NRG Energy Inc COM NEW 629377508 58,393 1,289,035 SH OTHER 01/02 1,289,035 NTL Inc COM 62941W101 37,947 1,492,228 SH OTHER 01/02 1,492,228 Pioneer Nat Res Co COM 723787107 113,897 2,911,467 SH OTHER 01/02 2,911,467 PowerShares ETF Trust WATER RESOURCE 73935X575 846 50,000 SH OTHER 01/02 50,000 Pulte Homes Inc COM 745867101 82,995 2,605,000 SH OTHER 01/02 2,605,000 RailAmerica Inc COM 750753105 32,254 2,953,690 SH OTHER 01/02 2,953,690 RCN Corp COM NEW 749361200 28,065 991,700 SH OTHER 01/02 991,700 Readers Digest Assn Inc COM 755267101 81,619 6,297,731 SH OTHER 01/02 6,297,731 Reliant Energy Inc COM 75952B105 60,267 4,895,815 SH OTHER 01/02 4,895,815 Saks Incorporated COM 79377W108 35,416 2,049,513 SH OTHER 01/02 2,049,513 Schlumberger Ltd COM 806857108 1,861 30,000 SH OTHER 01/02 30,000 Select Sector Spdr Tr SBI INT-FINL 81369Y605 3,462 100,000 SH PUT OTHER 01/02 100,000 Sovereign Bancorp Inc COM 845905108 115,477 5,368,544 SH OTHER 01/02 5,368,544 Sprint Nextel Corp COM FON 852061100 107,371 6,260,700 SH OTHER 01/02 6,260,700 Standard Pac Corp COM 85375C101 69,584 2,961,000 SH OTHER 01/02 2,961,000 Station Casinos Inc COM 857689103 299,554 5,179,900 SH OTHER 01/02 5,179,900 Suncor Energy Inc COM 867229106 1,801 25,000 SH OTHER 01/02 25,000 Suncor Energy Inc COM 867229106 28,820 400,000 SH CALL OTHER 01/02 400,000 Teekay Shipping Corp COM Y8564W103 41,570 1,011,200 SH OTHER 01/02 1,011,200 Teradyne Inc SDCV 3.750% 10/1 880770AD4 24,147 24,200,000 PRN OTHER 01/02 24,200,000 Tiffany & Co COM 886547108 69,720 2,100,000 SH OTHER 01/02 2,100,000 Time Warner Inc COM 887317105 138,168 7,579,156 SH OTHER 01/02 7,579,156 Treehouse Foods Inc COM 89469A104 60,263 2,548,100 SH OTHER 01/02 2,548,100 Wendys Intl Inc COM 950590109 562,089 8,389,392 SH OTHER 01/02 8,389,392 Wind River Systems Inc COM 973149107 18,586 1,735,361 SH OTHER 01/02 1,735,361 Xerox Corp COM 984121103 96,553 6,205,224 SH OTHER 01/02 6,205,224 Yahoo Inc COM 984332106 3,792 150,000 SH OTHER 01/02 150,000 YUM Brands Inc COM 988498101 103,580 1,990,000 SH OTHER 01/02 1,990,000