13F-HR 1 d13fhr.txt 13F 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: June 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 August 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).) FORM 13F SUMMARY PAGE Report Summary: Number of Other Included Managers: 2 Form 13F Information Table Entry Total: 106 Form 13F Information Table Value Total: $6,933,829 (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 ---------------------------- --------------- --------- -------- ---------- --- ---- ---------- -------- ---------- ------ ---- Affiliated Computer Services CL A 008190100 10,322 200,000 SH PUT OTHER 01/02 200,000 Altria Group Inc COM 02209S103 128,503 1,750,000 SH OTHER 01/02 1,750,000 Altria Group Inc COM 02209S103 7,343 100,000 SH CALL OTHER 01/02 100,000 Aramark Corp CL B 038521100 119,914 3,621,699 SH OTHER 01/02 3,621,699 Archstone Smith Tr COM 039583109 21,365 420,000 SH PUT OTHER 01/02 420,000 Aspen Insurance Holdings Ltd SHS G05384105 41,843 1,796,600 SH OTHER 01/02 1,796,600 Astoria Finl Corp COM 046265104 11,810 387,849 SH OTHER 01/02 387,849 AvalonBay Cmntys Inc COM 053484101 11,726 106,000 SH PUT OTHER 01/02 106,000 Avid Technology Inc COM 05367P100 6,666 200,000 SH OTHER 01/02 200,000 Berkshire Hathaway Inc CL A 084670108 89,826 980 SH OTHER 01/02 980 BlackRock Inc CL A 09247X101 205,075 1,473,560 SH OTHER 01/02 1,473,560 Boston Scientific Corp COM 101137107 206,585 12,267,500 SH OTHER 01/02 12,267,500 CapitalSource Inc COM 14055X102 11,300 481,683 SH OTHER 01/02 481,683 Caremark RX Inc COM 141705103 90,389 1,812,500 SH OTHER 01/02 1,812,500 Celanese Corp COM SER A 150870103 38,302 1,875,700 SH OTHER 01/02 1,875,700 Centex Corp COM 152312104 103,115 2,050,000 SH OTHER 01/02 2,050,000 Circuit City Store Inc COM 172737108 23,445 861,316 SH OTHER 01/02 861,316 City Natl Corp COM 178566105 16,299 250,400 SH OTHER 01/02 250,400 Clear Channel Comm Inc COM 184502102 152,060 4,913,100 SH OTHER 01/02 4,913,100 Comcast Corp CL A SPL 20030N200 221,650 6,761,748 SH OTHER 01/02 6,761,748 Comcast Corp CL A 20030N101 30,285 925,011 SH OTHER 01/02 925,011 Commerce Bancorp Inc COM 200519106 54,297 1,522,200 SH PUT OTHER 01/02 1,522,200 ConocoPhillips COM 20825C104 264,479 4,036,000 SH OTHER 01/02 4,036,000 Crown Holdings Inc COM 228368106 3,114 200,000 SH OTHER 01/02 200,000 CVS Corp COM 126650100 46,050 1,500,000 SH OTHER 01/02 1,500,000 Dell Inc COM 24702R101 72,378 2,965,100 SH OTHER 01/02 2,965,100 DirecTV Group Inc COM 25459L106 344,580 20,883,624 SH OTHER 01/02 20,883,624 El Paso Corp COM 28336L109 897 59,800 SH CALL OTHER 01/02 59,800 Embarq Corp COM 29078E105 6,482 158,131 SH OTHER 01/02 158,131 EMC Corp COM 268648102 3,181 290,000 SH OTHER 01/02 290,000 EnCana Corp COM 292505104 15,194 288,638 SH OTHER 01/02 288,638 Encore Acquisition Co COM 29255W100 5,634 210,000 SH OTHER 01/02 210,000 Energen Corp COM 29265N108 6,983 181,800 SH OTHER 01/02 181,800 Equity Residential SH BEN INT 29476L107 22,365 500,000 SH PUT OTHER 01/02 500,000 Federal Home Ln Mtg Corp COM 313400301 224,972 3,946,180 SH OTHER 01/02 3,946,180 Federal Home Ln Mtg Corp COM 313400301 50,944 893,600 SH CALL OTHER 01/02 893,600 Federated Dept Stores Inc COM 31410H101 36,600 1,000,000 SH OTHER 01/02 1,000,000 Ford Mtr Co COM PAR $0.01 345370860 693 100,000 SH OTHER 01/02 100,000 Gannett Inc COM 364730101 44,185 790,000 SH OTHER 01/02 790,000 Gap Inc COM 364760108 52,200 3,000,000 SH OTHER 01/02 3,000,000 General Electric Co COM 369604103 6,592 200,000 SH OTHER 01/02 200,000 Harrahs Entmt Inc COM 413619107 116,080 1,630,799 SH OTHER 01/02 1,630,799 Harrahs Entmt Inc COM 413619107 3,559 50,000 SH CALL OTHER 01/02 50,000 Hot Topic Inc COM 441339108 8,633 750,000 SH OTHER 01/02 750,000 Hudson City Bancorp COM 443683107 115,627 8,674,168 SH OTHER 01/02 8,674,168 Intel Corp COM 458140100 1,895 100,000 SH OTHER 01/02 100,000 Ishares Silver Trust ISHARES 46428Q109 41,235 370,190 SH OTHER 01/02 370,190 Ishares Tr 20+ YR TRS BD 464287432 4,219 50,000 SH OTHER 01/02 50,000 Ishares Tr Russell 2000 464287655 4,304 60,000 SH PUT OTHER 01/02 60,000 Ishares Tr DJ US Real Est 464287739 21,375 300,000 SH PUT OTHER 01/02 300,000 Janus Cap Group Inc COM 47102X105 50,538 2,823,364 SH OTHER 01/02 2,823,364 JP Morgan Chase & Co COM 46625H100 50,213 1,195,545 SH OTHER 01/02 1,195,545 Kerr McGee Corp COM 492386107 5,759 83,048 SH OTHER 01/02 83,048 Knology Inc COM 499183804 9,756 1,049,039 SH OTHER 01/02 1,049,039 Kohls Corp COM 500255104 167,706 2,836,700 SH OTHER 01/02 2,836,700 Mastercard Inc COM 57636Q104 19,200 400,000 SH OTHER 01/02 400,000 McClatchy Co CL A 579489105 99,542 2,481,104 SH OTHER 01/02 2,481,104 McDonalds Corp COM 580135101 64,529 1,920,500 SH OTHER 01/02 1,920,500 MCF Corp COM 580395101 6,695 6,500,000 SH OTHER 01/02 6,500,000 Mellon Finl Corp COM 58551A108 158,539 4,604,670 SH OTHER 01/02 4,604,670 Merrill Lynch & Co Inc COM 590188108 30,954 445,000 SH OTHER 01/02 445,000 MFA Mtg Invts Inc COM 55272X102 21,784 3,166,314 SH OTHER 01/02 3,166,314 Michaels Stores Inc COM 594087108 334,180 8,103,300 SH OTHER 01/02 8,103,300 Michaels Stores Inc COM 594087108 10,306 249,900 SH CALL OTHER 01/02 249,900 Microsoft Corp COM 594918104 66,289 2,845,000 SH OTHER 01/02 2,845,000 Morgan Stanley COM NEW 617446448 118,487 1,874,500 SH OTHER 01/02 1,874,500 National Australia Bk Ltd CAP UTS EXCHBL 632525309 10,623 250,000 SH OTHER 01/02 250,000 New York Times Co CL A 650111107 45,031 1,835,000 SH OTHER 01/02 1,835,000 Newmont Mining Corp COM 651639106 110,094 2,080,000 SH OTHER 01/02 2,080,000 News Corp CL A 65248E104 122,663 6,395,352 SH OTHER 01/02 6,395,352 Nortel Networks Corp COM 656568102 10,496 4,685,800 SH OTHER 01/02 4,685,800 Novelis Inc COM 67000X106 34,562 1,601,563 SH OTHER 01/02 1,601,563 NRG Energy Inc COM NEW 629377508 143,148 2,971,100 SH OTHER 01/02 2,971,100 NTL Inc COM 62941W101 39,646 1,592,228 SH OTHER 01/02 1,592,228 Office Depot Inc COM 676220106 73,956 1,946,200 SH OTHER 01/02 1,946,200 Oil Svc Holdrs Tr DEPOSTRY RCPT 678002106 1,838 12,300 SH OTHER 01/02 12,300 Pactiv Corp COM 695257105 39,840 1,609,700 SH OTHER 01/02 1,609,700 Pioneer Nat Res Co COM 723787107 220,357 4,748,045 SH OTHER 01/02 4,748,045 PowerShares ETF Trust WATER RESOURCE 73935X575 834 50,000 SH OTHER 01/02 50,000 PrimeWest Energy Tr TR UNIT NEW 741930309 5,220 174,100 SH PUT OTHER 01/02 174,100 Pulte Homes Inc COM 745867101 74,998 2,605,000 SH OTHER 01/02 2,605,000 RailAmerica Inc COM 750753105 15,752 1,505,890 SH OTHER 01/02 1,505,890 RCN Corp COM NEW 749361200 41,615 1,669,278 SH OTHER 01/02 1,669,278 Readers Digest Assn Inc COM 755267101 87,916 6,297,731 SH OTHER 01/02 6,297,731 Reliant Energy Inc COM 75952B105 115,088 9,606,666 SH OTHER 01/02 9,606,666 Saks Inc COM 79377W108 24,342 1,505,409 SH OTHER 01/02 1,505,409 Sara Lee Corp COM 803111103 33,642 2,100,000 SH OTHER 01/02 2,100,000 Select Sector Spdr Tr SBI INT-ENERGY 81369Y506 23,908 421,509 SH OTHER 01/02 421,509 Select Sector Spdr Tr SBI INT-FINL 81369Y605 3,234 100,000 SH PUT OTHER 01/02 100,000 Sovereign Bancorp Inc COM 845905108 109,035 5,368,544 SH OTHER 01/02 5,368,544 Sprint Nextel Corp COM FON 852061100 63,222 3,162,700 SH OTHER 01/02 3,162,700 Standard Pac Corp COM 85375C101 74,813 2,911,000 SH OTHER 01/02 2,911,000 Station Casinos Inc COM 857689103 91,881 1,349,600 SH OTHER 01/02 1,349,600 Sun Microsystems Inc COM 866810104 415 100,000 SH CALL OTHER 01/02 100,000 Teekay Shipping Corp COM Y8564W103 42,309 1,011,200 SH OTHER 01/02 1,011,200 Teradyne Inc SDCV 3.750%10/1 880770AD4 24,140 24,200,000 PRN OTHER 01/02 24,200,000 Tiffany & Co COM 886547108 69,342 2,100,000 SH OTHER 01/02 2,100,000 Time Warner Inc COM 887317105 131,119 7,579,156 SH OTHER 01/02 7,579,156 TreeHouse Foods Inc COM 89469A104 60,874 2,548,100 SH OTHER 01/02 2,548,100 TXU Corp COM 873168108 5,979 100,000 SH PUT OTHER 01/02 100,000 UnitedHealth Group Inc COM 91324P102 4,594 102,600 SH OTHER 01/02 102,600 WellCare Health Plans Inc COM 94946T106 9,081 185,133 SH OTHER 01/02 185,133 Wendys Intl Inc COM 950590109 491,932 8,439,392 SH OTHER 01/02 8,439,392 Weyerhaeuser Co COM 962166104 17,741 285,000 SH OTHER 01/02 285,000 Wind River Systems Inc COM 973149107 14,188 1,594,158 SH OTHER 01/02 1,594,158 Xerox Corp COM 984121103 103,314 7,427,324 SH OTHER 01/02 7,427,324