13F-HR 1 d13fhr.txt FORM 13F 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: December 31, 2004 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: 617-850-7520 Signature, Place and Date of Signing /s/ Joseph F. Mazzella Boston, Massachusetts February 14, 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: 107 Form 13F Information Table Value Total: $3,850,662 (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 ================================================================================

Item 1: Item 2: Item 3: Item 4: Item 5: Item 6: Item 7: Item 8: ----------------------------- ---------------- --------- -------- ---------- ---------- -------- -------------------- VOTING AUTHORITY VALUE SHRS OR SH/ INVESTMENT OTHER -------------------- Name Of Issuer Title Of Class CUSIP (x$1000) PRN AMT PRN PUT/CALL DISCRETION MANAGERS SOLE SHARED NONE ----------------------------- ---------------- --------- -------- ---------- --- -------- ---------- -------- ---- ---------- ---- 99 Cents Only Stores COM 65440K106 47,098 2,914,498 SH OTHER 01/02 2,914,498 Aetna Inc COM 00817Y108 17,465 140,000 SH OTHER 01/02 140,000 Affiliated Computer Services CL A 008190100 3,010 50,000 SH PUT OTHER 01/02 50,000 American Intl Group Inc COM 026874107 34,411 524,000 SH PUT OTHER 01/02 524,000 Aramark Corp CL B 038521100 55,562 2,095,899 SH OTHER 01/02 2,095,899 Aspen Insurance Holdings Ltd SHS G05384105 34,017 1,387,300 SH OTHER 01/02 1,387,300 Astoria Finl Corp COM 046265104 25,393 635,300 SH OTHER 01/02 635,300 Avnet Inc COM 053807103 1,040 57,000 SH OTHER 01/02 57,000 Bank of America Corporation COM 060505104 23,049 490,500 SH OTHER 01/02 490,500 Boyd Gaming Corp COM 103304101 400 9,600 SH PUT OTHER 01/02 9,600 Brocade Communications Sys COM 111621108 267 35,000 SH OTHER 01/02 35,000 Burlington Res Inc COM 122014103 43,500 1,000,000 SH OTHER 01/02 1,000,000 CapitalSource Inc COM 14055X102 113,410 4,418,003 SH OTHER 01/02 4,418,003 Career Education Corp COM 141665109 9,348 233,711 SH OTHER 01/02 233,711 Cerner Corp COM 156782104 10,278 193,300 SH PUT OTHER 01/02 193,300 ChoicePoint Inc COM 170388102 16,418 357,000 SH OTHER 01/02 357,000 Circuit City Store Inc COM 172737108 164,944 10,546,316 SH OTHER 01/02 10,546,316 Cisco Sys Inc COM 17275R102 1,930 100,000 SH OTHER 01/02 100,000 Citigroup Inc COM 172967101 23,295 483,500 SH OTHER 01/02 483,500 Citigroup Inc *W Exp 99/99/999 172967127 4,066 2,863,100 SH OTHER 01/02 2,863,100 City Investing Co Liq Tr Unit Ben Int 177900107 1,133 586,900 SH OTHER 01/02 586,900 Cognex Corp COM 192422103 1,060 38,000 SH OTHER 01/02 38,000 Comcast Corp CL A SPL 20030N200 122,922 3,743,044 SH OTHER 01/02 3,743,044 Comcast Corp CL A 20030N101 19,136 575,011 SH OTHER 01/02 575,011 Commerce Bancorp Inc COM 200519106 2,801 43,500 SH PUT OTHER 01/02 43,500 Cree Inc COM 225447101 12,859 320,841 SH OTHER 01/02 320,841 Cree Inc COM 225447101 20,040 500,000 SH PUT OTHER 01/02 500,000 Devon Energy Corp COM 25179M103 53,320 1,370,000 SH OTHER 01/02 1,370,000 DirecTV Group Inc COM 25459L106 246,638 14,733,424 SH OTHER 01/02 14,733,424 Downey Finl Corp COM 261018105 35,004 614,100 SH OTHER 01/02 614,100 Electro Scientific Inds COM 285229100 1,166 59,000 SH OTHER 01/02 59,000 Electronics for Imaging Inc COM 286082102 1,010 58,000 SH OTHER 01/02 58,000 EMC Corp COM 268648102 1,234 83,000 SH OTHER 01/02 83,000 Energy Select Sector SPDR SBI INT-ENERGY 81369Y506 37,286 1,030,000 SH OTHER 01/03 1,030,000 Espeed Inc CL A 296643109 661 53,431 SH OTHER 01/02 53,431 Family Dlr Stores Inc COM 307000109 5,621 180,000 SH OTHER 01/02 180,000 Federal Natl Mtg Assn COM 313586109 7 100 SH OTHER 01/02 100 Federal Natl Mtg Assn COM 313586109 7,121 100,000 SH PUT OTHER 01/02 100,000 Guidant Corp COM 401698105 1,442 20,000 SH OTHER 01/02 20,000 Harrahs Entmt Inc COM 413619107 68,562 1,025,000 SH OTHER 01/02 1,025,000 Helix Technology Corp COM 423319102 1,304 75,000 SH OTHER 01/02 75,000 Hewlett Packard Co COM 428236103 1,111 53,000 SH OTHER 01/02 53,000 IAC InteractiveCorp COM 44919P102 55,240 2,000,000 SH OTHER 01/02 2,000,000 Illinois Tool Wks Inc COM 452308109 2,780 30,000 SH PUT OTHER 01/02 30,000 Intergraph Corp COM 458683109 31,884 1,183,950 SH OTHER 01/02 1,183,950 International Game Technology COM 459902102 117,544 3,418,951 SH OTHER 01/02 3,418,951 ITT Educational Services Inc COM 45068B109 133,817 2,814,238 SH OTHER 01/02 2,814,238 Janus Cap Group Inc COM 47102X105 358,439 21,322,987 SH OTHER 01/02 21,322,987 JPMorgan Chase & Co COM 46625H100 43,776 1,122,178 SH OTHER 01/02 1,122,178 Kerr McGee Corp COM 492386107 126,554 2,189,890 SH OTHER 01/02 2,189,890 King Pharmaceuticals Inc COM 495582108 4,416 356,100 SH OTHER 01/02 356,100 Knology Inc COM 499183804 4,044 1,034,289 SH OTHER 01/02 1,034,289

Leapfrog Enterprises Inc CL A 52186N106 5,547 407,900 SH OTHER 01/02 407,900 Legg Mason Inc COM 524901105 4,872 66,501 SH OTHER 01/02 66,501 Linens N Things Inc COM 535679104 5,084 205,000 SH OTHER 01/02 205,000 Lodgian Inc Com Par $.01 54021P403 29,520 2,400,000 SH OTHER 01/02 2,400,000 Lucent Technologies Inc COM 549463107 752 200,000 SH OTHER 01/02 200,000 Mattel Inc COM 577081102 1,091 56,000 SH OTHER 01/02 56,000 MCF Corp COM 580395101 12,350 6,500,000 SH OTHER 01/02 6,500,000 McKesson Corp COM 58155Q103 32,718 1,040,000 SH OTHER 01/02 1,040,000 Medicines Co COM 584688105 3,960 137,500 SH OTHER 01/02 137,500 Merck & Co Inc COM 589331107 3,214 100,000 SH CALL OTHER 01/02 100,000 Merrill Lynch & Co Inc COM 590188108 59,770 1,000,000 SH OTHER 01/02 1,000,000 Microsoft Corp COM 594918104 2,671 100,000 SH OTHER 01/02 100,000 Morgan Stanley COM 617446448 3,331 60,000 SH OTHER 01/02 60,000 National Australia Bk Ltd Cap Uts Exchbl 632525309 9,485 250,000 SH OTHER 01/02 250,000 News Corp CL B 65248E203 10,944 570,000 SH OTHER 01/02 570,000 News Corp CL A 65248E104 34,061 1,825,352 SH OTHER 01/02 1,825,352 Nokia Corp Sponsored ADR 654902204 1,567 100,000 SH PUT OTHER 01/02 100,000 Novell Inc COM 670006105 338 50,000 SH OTHER 01/02 50,000 Novellus Sys Inc COM 670008101 1,032 37,000 SH OTHER 01/02 37,000 Office Depot Inc COM 676220106 12,152 700,000 SH OTHER 01/02 700,000 OfficeMax Inc COM 67622P101 23,171 738,400 SH OTHER 01/02 738,400 Orthologic Corp COM 68750J107 1,625 260,000 SH OTHER 01/02 260,000 Pactiv Corp COM 695257105 66,576 2,632,500 SH OTHER 01/02 2,632,500 PartnerRe Ltd COM G6852T105 53,993 871,700 SH OTHER 01/02 871,700 Petro-Canada COM 71644E102 20,408 400,000 SH OTHER 01/02 400,000 PF Changs China Bistro Inc COM 69333Y108 11,631 206,400 SH PUT OTHER 01/02 206,400 Pioneer Nat Res Co COM 723787107 329,596 9,390,211 SH OTHER 01/02 9,390,211 Prudential Finl Inc COM 744320102 106,771 1,942,700 SH OTHER 01/02 1,942,700 Readers Digest Assn Inc COM 755267101 101,511 7,297,731 SH OTHER 01/02 7,297,731 Royal Caribbean Cruises Ltd COM V7780T103 6,667 122,466 SH OTHER 01/02 122,466 Saks Inc COM 79377W108 290 20,000 SH OTHER 01/02 20,000 Sears Roebuck & Co COM 812387108 32,042 627,900 SH OTHER 01/02 627,900 Semiconductor HLDRS TR DEP RCPT 816636203 3,002 90,000 SH OTHER 01/02 90,000 Silicon Graphics Inc COM 827056102 21,443 12,394,600 SH OTHER 01/02 12,394,600 Smithfield Foods Inc COM 832248108 123,434 4,171,490 SH OTHER 01/02 4,171,490 Snap On Inc COM 833034101 1,203 35,000 SH OTHER 01/02 35,000 Sothebys Hldgs Inc CL A 835898107 7,458 410,700 SH OTHER 01/02 410,700 SPDR TR Unit Ser 1 78462F103 3,625 30,000 SH OTHER 01/02 30,000 Superior Inds Intl Inc COM 868168105 1,017 35,000 SH OTHER 01/02 35,000 Telesystem Intl Wireless Inc COM 879946606 32,631 3,245,061 SH OTHER 01/02 3,245,061 Teradyne Inc COM 880770102 1,212 71,000 SH OTHER 01/02 71,000 Teradyne Inc SDCV 3.750%10/1 880770AD4 24,491 24,200,000 PRN OTHER 01/02 24,200,000 Texas Instrs Inc COM 882508104 1,108 45,000 SH OTHER 01/02 45,000 Time Warner Inc COM 887317105 155,024 7,974,500 SH OTHER 01/02 7,974,500 Trizec Properties Inc COM 89687P107 7,045 372,375 SH OTHER 01/02 372,375 UnitedGlobalCom CL A 913247508 2,898 300,000 SH OTHER 01/02 300,000 Valuevision Media Inc CL A 92047K107 2,893 207,982 SH OTHER 01/02 207,982 Viacom Inc CL B 925524308 115 100,000 SH CALL OTHER 01/02 100,000 Wachovia Corp COM 929903102 21,829 415,000 SH OTHER 01/02 415,000 Waddell & Reed Finl Inc CL A 930059100 96,985 4,059,645 SH OTHER 01/02 4,059,645 White Mtns Ins Group Ltd COM G9618E107 1,421 2,200 SH OTHER 01/02 2,200 Williams Cos Inc COM 969457100 34,805 2,136,600 SH OTHER 01/02 2,136,600 Xerox Corp COM 984121103 80,804 4,750,369 SH OTHER 01/02 4,750,369 Xilinx Inc COM 983919101 1,038 35,000 SH OTHER 01/02 35,000 XTO Energy Inc COM 98385X106 87,608 2,476,200 SH OTHER 01/02 2,476,200