13F-HR 1 d13fhr.txt FORM 13F HOLDINGS REPORT UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 13F Form 13F Cover Page INFORMATION REQUIRED OF INSTITUTIONAL INVESTMENT MANAGERS PURSUANT TO SECTION 13(f) OF THE SECURITIES EXCHANGE ACT OF 1934 AND RULES THEREUNDER Report for the Calendar Year or Quarter Ended: March 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 ------------------------------------------------------------------------------- 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: 617-850-7500 Signature, Place and Date of Signing /s/ Joseph F. Mazzella Boston, Massachusetts May 16, 2005 ---------------------- Report Type (Check only one.) [X] 13F Holdings Report [ ] 13F Notice [ ] 13F Combination Report 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: 105 Form 13F Information Table Value Total: $4,646,191 (x 1000) List of Other Included Managers: 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 =============================================================================== Preliminary Report 13 F Report as of March 31, 2005

Item 1: Item 2: Item 3: Item 4: Item 5: Item 6: Item 7: Item 8: ---------------------------- ---------------- --------- -------- ---------- ---------- -------- -------------------- --VOTING AUTHORITY-- VALUE SHRS OR INVESTMENT OTHER -------------------- Name Of Issuer Title Of Class CUSIP (x$1000) PRN AMT SH/PRN PUT/CALL DISCRETION MANAGERS SOLE SHARED NONE ---------------------------- ---------------- --------- -------- ---------- ------ -------- ---------- -------- ---- ---------- ---- 99 Cents Only Stores COM 65440K106 38,351 2,911,998 SH OTHER 01/02 2,911,998 Aetna Inc COM 00817Y108 4,497 60,000 SH PUT OTHER 01/02 60,000 Agere Systems Inc CL A 00845V100 143 100,000 SH OTHER 01/02 100,000 Alamosa Hldgs Inc COM 011589108 25,210 2,160,267 SH OTHER 01/02 2,160,267 Applied Matls Inc COM 038222105 2,438 150,000 SH OTHER 01/02 150,000 Aramark Corp CL B 038521100 55,080 2,095,899 SH OTHER 01/02 2,095,899 Aspen Insurance Holdings Ltd SHS G05384105 32,889 1,304,600 SH OTHER 01/02 1,304,600 Astoria Finl Corp COM 046265104 22,463 887,849 SH OTHER 01/02 887,849 Bank of America Corporation COM 060505104 26,482 600,500 SH OTHER 01/02 600,500 BearingPoint Inc COM 074002106 439 50,000 SH OTHER 01/02 50,000 Burlington Res Inc COM 122014103 67,810 1,354,300 SH OTHER 01/02 1,354,300 Canadian Nat Res Ltd COM 136385101 135,135 2,378,300 SH OTHER 01/02 2,378,300 CapitalSource Inc COM 14055X102 81,404 3,539,303 SH OTHER 01/02 3,539,303 Celanese Corp CL A 150870103 28,613 1,590,500 SH OTHER 01/02 1,590,500 Cerner Corp COM 156782104 5,251 100,000 SH PUT OTHER 01/02 100,000 Charles Schwab Corp COM 808513105 526 50,000 SH OTHER 01/02 50,000 ChoicePoint Inc COM 170388102 14,319 357,000 SH OTHER 01/02 357,000 Circuit City Store Inc COM 172737108 207,329 12,917,716 SH OTHER 01/02 12,917,716 Citigroup Inc COM 172967101 26,402 587,500 SH OTHER 01/02 587,500 Citigroup Inc *W EXP 99/99/999 172967127 4,982 2,863,100 SH OTHER 01/02 2,863,100 City Investing Co Liq Tr UNIT BEN INT 177900107 1,115 586,900 SH OTHER 01/02 586,900 Comcast Corp CL A SPL 20030N200 122,409 3,660,548 SH OTHER 01/02 3,660,548 Comcast Corp CL A 20030N101 19,424 575,011 SH OTHER 01/02 575,011 Commerce Bancorp Inc COM 200519106 16,235 500,000 SH PUT OTHER 01/02 500,000 Costco Whsl Corp COM 22160K105 2,209 50,000 SH OTHER 01/02 50,000 Cree Inc COM 225447101 5,607 257,800 SH OTHER 01/02 257,800 Del Monte Foods Co COM 24522P103 21,700 2,000,000 SH OTHER 01/02 2,000,000 Delphi Corp COM 247126105 448 100,000 SH OTHER 01/02 100,000 Devon Energy Corp COM 25179M103 59,855 1,253,500 SH OTHER 01/02 1,253,500 DirecTV Group Inc COM 25459L106 284,381 19,721,324 SH OTHER 01/02 19,721,324 Downey Financial Corp COM 261018105 20,206 328,400 SH OTHER 01/02 328,400 EMC Corp COM 268648102 1,232 100,000 SH OTHER 01/02 100,000 Exxon Mobil Corp COM 30231G102 4,470 75,000 SH OTHER 01/02 75,000 Federal Natl Mtg Assn COM 313586109 5 100 SH OTHER 01/02 100 Federal Natl Mtg Assn COM 313586109 4,084 75,000 SH PUT OTHER 01/02 75,000 Fiserv Inc COM 337738108 19,900 500,000 SH OTHER 01/02 500,000 Freescale Semiconductor Inc CL A 35687M107 848 50,000 SH OTHER 01/02 50,000 Freescale Semiconductor Inc CL B 35687M206 8,625 500,000 SH OTHER 01/02 500,000 Gateway Inc COM 367626108 282 70,000 SH OTHER 01/02 70,000 General Mtrs Corp COM 370442105 44,085 1,500,000 SH OTHER 01/02 1,500,000 Goldman Sachs Group Inc COM 38141G104 3,300 30,000 SH PUT OTHER 01/02 30,000 Harrahs Entmt Inc COM 413619107 85,982 1,331,400 SH OTHER 01/02 1,331,400 IAC InteractiveCorp COM 44919P102 45,654 2,050,000 SH OTHER 01/02 2,050,000 Intergraph Corp COM 458683109 34,110 1,183,950 SH OTHER 01/02 1,183,950 International Game Tech COM 459902102 116,476 4,368,951 SH OTHER 01/02 4,368,951 ITT Educational Services Inc COM 45068B109 114,189 2,354,410 SH OTHER 01/02 2,354,410 Janus Cap Group Inc COM 47102X105 303,733 21,772,987 SH OTHER 01/02 21,772,987 JPMorgan Chase & Co COM 46625H100 133,943 3,871,178 SH OTHER 01/02 3,871,178 Knology Inc COM 499183804 2,451 1,034,289 SH OTHER 01/02 1,034,289 Leapfrog Enterprises Inc CL A 52186N106 4,630 407,900 SH OTHER 01/02 407,900 Lennar Corp CL A 526057104 1,304 23,000 SH PUT OTHER 01/02 23,000 Level 3 Communications Inc COM 52729N100 721 350,000 SH OTHER 01/02 350,000 Linens N Things Inc COM 535679104 8,837 355,900 SH OTHER 01/02 355,900 Lodgian Inc COM PAR $.01 54021P403 24,600 2,400,000 SH OTHER 01/02 2,400,000 Lucent Technologies Inc COM 549463107 1,100 400,000 SH OTHER 01/02 400,000 Lyondell Chemical Co COM 552078107 13,960 500,000 SH OTHER 01/02 500,000 MCF Corp COM 580395101 9,165 6,500,000 SH OTHER 01/02 6,500,000 McKesson Corp COM 58155Q103 86,919 2,302,500 SH OTHER 01/02 2,302,500 Medicines Co COM 584688105 3,116 137,500 SH OTHER 01/02 137,500 Merrill Lynch & Co Inc COM 590188108 58,864 1,040,000 SH OTHER 01/02 1,040,000 Microsoft Corp COM 594918104 2,417 100,000 SH OTHER 01/02 100,000 Morgan Stanley COM NEW 617446448 144,167 2,518,200 SH OTHER 01/02 2,518,200 Motorola Inc COM 620076109 749 50,000 SH OTHER 01/02 50,000 National Australia Bk Ltd CAP UTS EXCHBL 632525309 9,175 250,000 SH OTHER 01/02 250,000 News Corp CL B 65248E203 10,038 570,000 SH OTHER 01/02 570,000 News Corp CL A 65248E104 30,885 1,825,352 SH OTHER 01/02 1,825,352 Nextel Communications Inc CL A 65332V103 14,210 500,000 SH OTHER 01/02 500,000 Nextel Communications Inc CL A 65332V103 44,051 1,550,000 SH CALL OTHER 01/02 1,550,000 Nokia Corp SPONSORED ADR 654902204 772 50,000 SH PUT OTHER 01/02 50,000 Novelis Inc COM 67000X106 34,599 1,578,400 SH OTHER 01/02 1,578,400 Office Depot Inc COM 676220106 31,052 1,400,000 SH OTHER 01/02 1,400,000 OfficeMax Inc COM 67622P101 100,232 2,992,000 SH OTHER 01/02 2,992,000 Oracle Corporation COM 68389X105 1,248 100,000 SH OTHER 01/02 100,000 Orthologic Corp COM 68750J107 1,316 260,000 SH OTHER 01/02 260,000 Pactiv Corp COM 695257105 62,209 2,664,200 SH OTHER 01/02 2,664,200 PartnerRe Ltd COM G6852T105 44,361 686,700 SH OTHER 01/02 686,700 Pioneer Nat Res Co COM 723787107 506,920 11,866,111 SH OTHER 01/02 11,866,111 Precision Drilling Corp COM 74022D100 54,091 724,500 SH OTHER 01/02 724,500 Prudential Finl Inc COM 744320102 111,511 1,942,700 SH OTHER 01/02 1,942,700 Readers Digest Assn Inc COM 755267101 109,014 6,297,731 SH OTHER 01/02 6,297,731 Saks Inc COM 79377W108 361 20,000 SH OTHER 01/02 20,000 Sappi Ltd SPON ADR NEW 803069202 7,402 601,800 SH OTHER 01/02 601,800 Select Sector SPDR TR SBI INT-ENERGY 81369Y506 66,588 1,552,172 SH OTHER 01/02 1,552,172 Silicon Graphics Inc COM 827056102 12,640 10,621,500 SH OTHER 01/02 10,621,500 Sirius Satellite Radio Inc COM 82966U103 7,868 1,400,000 SH OTHER 01/02 1,400,000 Smithfield Foods Inc COM 832248108 74,004 2,345,600 SH OTHER 01/02 2,345,600 Sothebys Hldgs Inc CL A 835898107 6,965 410,700 SH OTHER 01/02 410,700 SPDR TR UNIT SER 1 78462F103 3,539 30,000 SH OTHER 01/02 30,000 Sprint Corp COM FON 852061100 43,794 1,925,000 SH OTHER 01/02 1,925,000 Sun Microsystems Inc COM 866810104 1,212 300,000 SH OTHER 01/02 300,000 Suncor Energy Inc COM 867229106 11,741 292,000 SH OTHER 01/02 292,000 Teekay Shipping Marshall Isl COM Y8564W103 69,762 1,552,000 SH OTHER 01/02 1,552,000 Temple Inland Inc COM 879868107 8,706 120,000 SH OTHER 01/02 120,000 Teradyne Inc SDCV 3.750%10/1 880770AD4 23,958 24,200,000 PRN OTHER 01/02 24,200,000 Time Warner Inc COM 887317105 139,952 7,974,500 SH OTHER 01/02 7,974,500 Trizec Properties Inc COM 89687P107 995 52,375 SH OTHER 01/02 52,375 UnitedGlobalCom CL A 913247508 2,838 300,000 SH OTHER 01/02 300,000 USA Mobility Inc COM 90341G103 16,200 500,000 SH OTHER 01/02 500,000 Wachovia Corp COM 929903102 26,015 511,000 SH OTHER 01/02 511,000 Waddell & Reed Finl Inc CL A 930059100 80,137 4,059,645 SH OTHER 01/02 4,059,645 Wendys Intl Inc COM 950590109 96,390 2,469,000 SH OTHER 01/02 2,469,000 White Mtns Ins Group Ltd COM G9618E107 1,339 2,200 SH OTHER 01/02 2,200 William Cos Inc COM 969457100 25,141 1,336,600 SH OTHER 01/02 1,336,600 Xerox Corp COM 984121103 71,968 4,750,369 SH OTHER 01/02 4,750,369 XTO Energy Inc COM 98385X106 63,723 1,940,394 SH OTHER 01/02 1,940,394