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: December 31, 2005 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 February 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 for 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: 96 Form 13F Information Table Value Total: $5,796,284 (x 1000) List of Other Included Managers: Provide a numbered list of the 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 Highfields Capital Management LP, Mr. Jacobson and Mr. Grubman share investment discretion with respect to the reported securities. ================================================================================ 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 -------------------- SHRS OR SH/ PUT/ INVESTMENT OTHER NAME OF ISSUER TITLE OF CLASS CUSIP VALUE (x$1000) PRN AMT PRN CALL DISCRETION MANAGERS SOLE SHARED NONE -------------- -------------- --------- -------------- ---------- ---- ---- ---------- -------- ---- ---------- ---- Altria Group Inc COM 02209S103 130,760 1,750,000 SH OTHER 01/02 1,750,000 Anadarko Pete Corp COM 032511107 53,534 565,000 SH OTHER 01/02 565,000 Andrew Corp COM 034425108 2,972 277,000 SH OTHER 01/02 277,000 Aramark Corp CL B 038521100 58,224 2,095,899 SH OTHER 01/02 2,095,899 Aspen Insurance Holdings Ltd SHS G05384105 38,975 1,646,600 SH OTHER 01/02 1,646,600 Astoria Finl Corp COM 046265104 26,103 887,849 SH OTHER 01/02 887,849 Bank of America Corp COM 060505104 12,945 280,500 SH OTHER 01/02 280,500 Bema Gold Corp COM 08135F107 5,911 2,031,400 SH OTHER 01/02 2,031,400 Berkshire Hathaway Inc COM NEW 084670108 49,627 560 SH OTHER 01/02 560 Blyth Inc COM 09643P108 2,730 130,321 SH OTHER 01/02 130,321 CapitalSource Inc COM 14055X102 10,149 456,157 SH OTHER 01/02 456,157 Celanese Corp COM SER A 150870103 45,423 2,375,700 SH OTHER 01/02 2,375,700 Cerner Corp COM 156782104 5,441 119,700 SH PUT OTHER 01/02 119,700 Chevron Corp COM 166764100 92,251 1,625,000 SH OTHER 01/02 1,625,000 Circuit City Store Inc COM 172737108 202,615 8,969,216 SH OTHER 01/02 8,969,216 Citigroup Inc COM 172967101 12,618 260,004 SH OTHER 01/02 260,004 City Investing Co Liq Tr UNIT BEN INT 177900107 65 586,900 SH OTHER 01/02 586,900 Comcast Corp CL A SPL 20030N200 137,712 5,360,548 SH OTHER 01/02 5,360,548 Comcast Corp CL A 20030N101 22,715 875,011 SH OTHER 01/02 875,011 Commerce Bancorp Inc COM 200519106 4,404 128,000 SH PUT OTHER 01/02 128,000 ConocoPhillips COM 20825C104 133,232 2,290,000 SH OTHER 01/02 2,290,000 Devon Energy Corp COM 25179M103 91,464 1,462,495 SH OTHER 01/02 1,462,495 DirecTV Group Inc COM 25459L106 300,982 21,316,024 SH OTHER 01/02 21,316,024 Du Pont E I De Nemours & Co COM 263534109 2,550 60,000 SH OTHER 01/02 60,000 Exxon Mobil Corp COM 30231G102 58,248 1,037,000 SH OTHER 01/02 1,037,000 Exxon Mobil Corp COM 30231G102 2,809 50,000 SH CALL OTHER 01/02 50,000 Family Dlr Stores Inc COM 307000109 2,529 102,000 SH OTHER 01/02 102,000 Feder Home Ln Mtg Corp COM 313400301 197,814 3,027,000 SH OTHER 01/02 3,027,000 Finish Line Inc CL A 317923100 2,163 124,173 SH OTHER 01/02 124,173 Freds Inc CL A 356108100 3,238 199,000 SH OTHER 01/02 199,000 Furniture Brands Intl Inc COM 360921100 2,903 130,000 SH OTHER 01/02 130,000 Gannett Co Inc COM 364730101 47,850 790,000 SH OTHER 01/02 790,000 GAP Inc COM 364760108 3,440 195,000 SH OTHER 01/02 195,000 General Mtrs Corp COM 370442105 2,449 126,100 SH OTHER 01/02 126,100 General Mtrs Corp COM 370442105 777 40,000 SH PUT OTHER 01/02 40,000 Goldman Sachs Group Inc COM 38141G104 5,108 40,000 SH PUT OTHER 01/02 40,000 Harrahs Entmt Inc COM 413619107 216,543 3,037,499 SH OTHER 01/02 3,037,499 Hudson City Bancorp COM 443683107 103,313 8,524,168 SH OTHER 01/02 8,524,168 IDX Sys Corp COM 449491109 49,155 1,119,200 SH OTHER 01/02 1,119,200 International Game Tech COM 459902102 134,476 4,368,951 SH OTHER 01/02 4,368,951 Investors Bancorp Inc COM 46146P102 10,535 955,100 SH OTHER 01/02 955,100 ITT Educational Services Inc COM 45068B109 62,096 1,050,510 SH OTHER 01/02 1,050,510 Janus Cap Group Inc COM 47102X105 268,803 14,428,481 SH OTHER 01/02 14,428,481 JPMorgan Chase & Co COM 46625H100 143,129 3,606,178 SH OTHER 01/02 3,606,178 K2 Inc COM 482732104 1,517 150,000 SH OTHER 01/02 150,000 Keane Inc COM 486665102 2,973 270,000 SH OTHER 01/02 270,000 Kellwood Co COM 488044108 2,770 116,000 SH OTHER 01/02 116,000 Kerr McGee Corp COM 492386107 120,585 1,327,155 SH OTHER 01/02 1,327,155 Kimberly Clark Corp COM 494368103 2,983 50,000 SH CALL OTHER 01/02 50,000 Knight Ridder Inc COM 499040103 141,893 2,241,598 SH OTHER 01/02 2,241,598 Knology Inc COM 499183804 2,847 757,100 SH OTHER 01/02 757,100 Leggett & Platt Inc COM 524660107 3,398 148,000 SH OTHER 01/02 148,000 Linens N Things Inc COM 535679104 13,300 500,000 SH OTHER 01/02 500,000 Lucent Technologies Inc COM 549463107 1,064 400,000 SH OTHER 01/02 400,000 Marathon Oil Corp COM 565849106 60,970 1,000,000 SH OTHER 01/02 1,000,000 Mattel Inc COM 577081102 3,243 205,000 SH OTHER 01/02 205,000 MCF Corp COM 580395101 6,825 6,500,000 SH OTHER 01/02 6,500,000 Mellon Finl Corp COM 58551A108 211,035 6,161,601 SH OTHER 01/02 6,161,601 Merrill Lynch & Co Inc COM 590188108 30,140 445,000 SH OTHER 01/02 445,000 Microsoft Corp COM 594918104 5,230 200,000 SH CALL OTHER 01/02 200,000 Morgan Stanley COM NEW 617446448 191,469 3,374,500 SH OTHER 01/02 3,374,500 National Australia Bk Ltd CAP UTS EXCHBL 632525309 9,850 250,000 SH OTHER 01/02 250,000 New York Times Co CL A 650111107 48,536 1,835,000 SH OTHER 01/02 1,835,000 News Corp CL A 65248E104 99,448 6,395,352 SH OTHER 01/02 6,395,352 Novelis Inc COM 67000X106 34,243 1,639,200 SH OTHER 01/02 1,639,200 NTL Inc COM 62940M104 70,122 1,030,000 SH OTHER 01/02 1,030,000 Office Depot Inc COM 676220106 128,555 4,094,100 SH OTHER 01/02 4,094,100 Pacific Sunwear Calif Inc COM 694873100 18,887 757,900 SH OTHER 01/02 757,900 Pactiv Corp COM 695257105 109,072 4,957,800 SH OTHER 01/02 4,957,800 PF Changs China Bistro Inc COM 69333Y108 4,963 100,000 SH PUT OTHER 01/02 100,000 Pioneer Nat Res Co COM 723787107 271,327 5,292,111 SH OTHER 01/02 5,292,111 RCN Corp COM NEW 749361200 39,145 1,669,278 SH OTHER 01/02 1,669,278 Readers Digest Assn Inc COM 755267101 95,851 6,297,731 SH OTHER 01/02 6,297,731 RehabCare Group Inc COM 759148109 606 30,000 SH OTHER 01/02 30,000 Reinsurance Group Amer Inc COM 759351109 23,761 497,500 SH OTHER 01/02 497,500 Russell Corp COM 782352108 2,948 219,000 SH OTHER 01/02 219,000 Sara Lee Corp COM 803111103 39,690 2,100,000 SH OTHER 01/02 2,100,000 Semtech Corp COM 816850101 2,374 130,000 SH OTHER 01/02 130,000 Sprint Nextel Corp COM FON 852061100 73,881 3,162,700 SH OTHER 01/02 3,162,700 Station Casinos Inc COM 857689103 77,604 1,144,600 SH OTHER 01/02 1,144,600 Suncor Energy Inc COM 867229106 34,614 548,300 SH OTHER 01/02 548,300 Take-Two Interactive Software COM 874054109 1,670 94,325 SH OTHER 01/02 94,325 Teekay Shipping Marshall Isl COM Y8564W103 53,454 1,339,700 SH OTHER 01/02 1,339,700 Temple Inland Inc COM 879868107 47,747 1,064,600 SH OTHER 01/02 1,064,600 Teradyne Inc SDCV 3.750% 10/1 880770AD4 23,988 24,200,000 PRN OTHER 01/02 24,200,000 Time Warner Inc COM 887317105 139,075 7,974,500 SH OTHER 01/02 7,974,500 TreeHouse Foods Inc COM 89469A104 47,700 2,548,100 SH OTHER 01/02 2,548,100 USA Mobility Inc COM 90341G103 13,860 500,000 SH OTHER 01/02 500,000 Wachovia Corp COM 929903102 11,920 225,500 SH OTHER 01/02 225,500 Waddell & Reed Finl Inc CL A 930059100 72,002 3,433,555 SH OTHER 01/02 3,433,555 Wendys Intl Inc COM 950590109 489,211 8,852,900 SH OTHER 01/02 8,852,900 Weyerhaeuser Co COM 962166104 33,170 500,000 SH OTHER 01/02 500,000 Xerox Corp COM 984121103 108,808 7,427,169 SH OTHER 01/02 7,427,169 Xilinx Inc COM 983919101 1,261 50,000 SH OTHER 01/02 50,000 Yahoo Inc COM 984332106 784 20,000 SH OTHER 01/02 20,000 Yahoo Inc COM 984332106 3,134 80,000 SH CALL OTHER 01/02 80,000