13F-HR 1 d13fhr.txt 13F-HR 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, 2008 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, 59th Floor Boston, MA 02116 Form 13F File Number: 028-03499 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 November 14, 2008 ------------------------- --------------------- ----------------- 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: 92 Form 13F Information Table Value Total: $7,339,868(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 028-04629 Jonathon S. Jacobson 02 File Number 028-04627 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--- TITLE OF VALUE SHRS OR SH/ PUT/ INVESTMENT OTHER ---------------------- NAME OF ISSUER CLASS CUSIP (x$1000) PRN AMT PRN CALL DISCRETION MANAGERS SOLE SHARED NONE -------------- ----------------- --------- -------- ------------------- ---------- -------- ---------- ------ ---- Aetna Inc COM 00817Y108 36,471 1,010,000 SH OTHER 01/02 1,010,000 Alcoa Inc COM 013817101 243,459 10,782,064 SH OTHER 01/02 10,782,064 Altern Asset Mgmt Acq *W EXP 08/01/201 02149U119 263 750,000 SH OTHER 01/02 750,000 Altern Asset Mgmt Acq COM 02149U101 6,750 750,000 SH OTHER 01/02 750,000 Alumina Ltd SPONSORED ADR 022205108 12,704 1,257,853 SH OTHER 01/02 1,257,853 American Express Co COM 025816109 286,097 8,075,000 SH OTHER 01/02 8,075,000 American Intl Group Inc COM 026874107 167 50,000 SH PUT OTHER 01/02 50,000 Anheuser Busch Cos Inc COM 035229103 151,804 2,339,766 SH OTHER 01/02 2,339,766 AnnTaylor Stores Corp COM 036115103 40,802 1,976,826 SH OTHER 01/02 1,976,826 Bank of America Corp COM 060505104 3,500 100,000 SH PUT OTHER 01/02 100,000 Berkshire Hathaway Inc CL A 084670108 165,209 1,265 SH OTHER 01/02 1,265 Boston Scientific Corp COM 101137107 32,914 2,682,500 SH OTHER 01/02 2,682,500 Cablevision Systems Corp CL A NY CABLVS 12686C109 84,565 3,361,085 SH OTHER 01/02 3,361,085 Cadbury Schweppes PLC SPONS ADR 12721E102 13,756 335,999 SH OTHER 01/02 335,999 Cadence Design System Inc COM 127387108 3,380 500,000 SH CALL OTHER 01/02 500,000 Canadian Nat Resources Ltd COM 136385101 123,606 1,805,524 SH OTHER 01/02 1,805,524 Capital One Finl Corp COM 14040H105 25,500 500,000 SH PUT OTHER 01/02 500,000 CapitalSource Inc DBCV 1.250% 3/1 14055XAB8 15,390 19,000,000 PRN OTHER 01/02 19,000,000 CapitalSource Inc DBCV 1.625% 3/1 14055XAF9 8,254 8,700,000 PRN OTHER 01/02 8,700,000 CapitalSource Inc DBCV 4.000% 7/1 14055XAE2 3,794 5,000,000 PRN OTHER 01/02 5,000,000 CapitalSource Inc NOTE 7.250% 7/1 14055XAG7 34,194 46,053,000 PRN OTHER 01/02 46,053,000 CapitalSource Inc COM 14055X102 17,644 1,434,500 SH OTHER 01/02 1,434,500 Celanese Corp COM SER A 150870103 28,691 1,028,000 SH OTHER 01/02 1,028,000 Comcast Corp CL A SPL 20030N200 206,779 10,485,726 SH OTHER 01/02 10,485,726 Comcast Corp CL A 20030N101 103,883 5,292,043 SH OTHER 01/02 5,292,043 Consol Energy Inc COM 20854P109 30,393 662,300 SH OTHER 01/02 662,300 Constellation Energy Grp COM 210371100 10,388 427,500 SH CALL OTHER 01/02 427,500 CVS Caremark Corp COM 126650100 100,151 2,975,368 SH OTHER 01/02 2,975,368 Dell Inc COM 24702R101 115,360 7,000,000 SH OTHER 01/02 7,000,000 Dillards Inc CL A 254067101 23,600 2,000,000 SH OTHER 01/02 2,000,000 Downey Financial Corp COM 261018105 6,765 2,416,181 SH OTHER 01/02 2,416,181 Dr Pepper Snapple Group COM 26138E109 178,438 6,738,593 SH OTHER 01/02 6,738,593 Eagle Materials Inc COM 26969P108 18,274 816,900 SH OTHER 01/02 816,900 Eclipsys Corp COM 278856109 20,950 1,000,000 SH OTHER 01/02 1,000,000 Embarq Corp COM 29078E105 6,412 158,131 SH OTHER 01/02 158,131 EMC Corp COM 268648102 17,222 1,440,000 SH CALL OTHER 01/02 1,440,000 Employers Holdings Inc COM 292218104 12,528 720,810 SH OTHER 01/02 720,810 EnCana Corp COM 292505104 421,791 6,417,031 SH OTHER 01/02 6,417,031 EnCana Corp COM 292505104 55,871 850,000 SH CALL OTHER 01/02 850,000 Fidelity Natl Info Svcs COM 31620M106 64,479 3,492,886 SH OTHER 01/02 3,492,886 First American Corp COM 318522307 259,242 8,787,879 SH OTHER 01/02 8,787,879 First Marblehead Corp COM 320771108 782 314,200 SH CALL OTHER 01/02 314,200 Fiserv Inc COM 337738108 9,464 200,000 SH OTHER 01/02 200,000 Freeport-McMoran Copper COM 35671D857 52,463 922,829 SH OTHER 01/02 922,829 Frontier Oil Corp COM 35914P105 152,014 8,252,649 SH OTHER 01/02 8,252,649 Frontier Oil Corp COM 35914P105 4,078 221,400 SH CALL OTHER 01/02 221,400 Global Consumer Acq Corp UNIT 99/99/9999 378983209 27,435 2,950,000 SH OTHER 01/02 2,950,000 Goldcorp Inc COM 380956409 886 28,000 SH OTHER 01/02 28,000 Goldman Sachs Group Inc COM 38141G104 24,320 190,000 SH OTHER 01/02 190,000 GSC Acquisition Co *W EXP 06/25/201 40053G114 60 300,000 SH OTHER 01/02 300,000 HealthSouth Corp COM NEW 421924309 6,744 365,951 SH OTHER 01/02 365,951 Hilltop Holdings Inc COM 432748101 9,740 943,811 SH OTHER 01/02 943,811 Infosys Technologies Ltd SPONSORED ADR 456788108 18,106 543,556 SH OTHER 01/02 543,556 Ishares RUSSELL 2000 464287655 340,000 5,000,000 SH PUT OTHER 01/02 5,000,000 Ishares RUSSELL 2000 464287655 9,575 140,000 SH OTHER 01/02 140,000 Ishares RUSSELL 2000 464287655 340,000 5,000,000 SH CALL OTHER 01/02 5,000,000 Knology Inc COM 499183804 8,466 1,049,039 SH OTHER 01/02 1,049,039 Kraft Foods Inc CL A 50075N104 176,337 5,384,350 SH OTHER 01/02 5,384,350 Marriott International Inc CL A 571903202 172,191 6,599,900 SH OTHER 01/02 6,599,900 McClatchy Co CL A 579489105 7,199 1,636,118 SH OTHER 01/02 1,636,118 Merrill Lynch & Co Inc COM 590188108 15,648 618,500 SH CALL OTHER 01/02 618,500 Merrill Lynch & Co Inc COM 590188108 256,340 10,132,000 SH OTHER 01/02 10,132,000 Merriman Curhan Ford Grp COM 590418109 1,147 1,146,461 SH OTHER 01/02 1,146,461 Microsoft Corp COM 594918104 2,669 100,000 SH CALL OTHER 01/02 100,000 Morgan Stanley COM NEW 617446448 1,150 50,000 SH OTHER 01/02 50,000 Motorola Inc COM 620076109 341,549 47,835,930 SH OTHER 01/02 47,835,930 News Corporation Ltd CL A 65248E104 24,613 2,052,769 SH OTHER 01/02 2,052,769 Northern Dynasty Min COM NEW 66510M204 3,735 868,618 SH OTHER 01/02 868,618 Och Ziff Cap Mgmt Grp CL A 67551U105 42,456 3,631,800 SH OTHER 01/02 3,631,800 Office Depot Inc COM 676220106 30,678 5,271,164 SH OTHER 01/02 5,271,164 Peoples United Finl COM 712704105 4,428 230,001 SH OTHER 01/02 230,001 Qualcomm Inc COM 747525103 242,526 5,644,075 SH OTHER 01/02 5,644,075 Sapphire Industrials UNIT 99/99/9999 80306T208 18,300 2,000,000 SH OTHER 01/02 2,000,000 SL Green Rlty Corp COM 78440X101 1,244 19,200 SH OTHER 01/02 19,200 SLM Corp COM 78442P106 174,379 14,131,196 SH OTHER 01/02 14,131,196 Smithfield Foods Inc COM 832248108 30,302 1,908,200 SH OTHER 01/02 1,908,200 SP Acquisition Hldgs Inc UNIT 99/99/9999 78470A203 4,750 500,000 SH OTHER 01/02 500,000 SPDR Gold Trust GOLD SHS 78463V107 243,447 2,861,720 SH OTHER 01/02 2,861,720 Suncor Energy COM 867229106 12,099 287,112 SH OTHER 01/02 287,112 Suncor Energy COM 867229106 85,978 2,040,300 SH CALL OTHER 01/02 2,040,300 Tailwind Financial Inc COM 874023104 674 86,800 SH OTHER 01/02 86,800 Tailwind Financial Inc *W EXP 04/11/201 874023112 244 1,221,100 SH OTHER 01/02 1,221,100 Time Warner Cable CL A 88732J108 66,511 2,748,380 SH OTHER 01/02 2,748,380 Ultra Petroleum Corp COM 903914109 5,534 100,000 SH PUT OTHER 01/02 100,000 United Rentals Inc COM 911363109 4,281 280,873 SH OTHER 01/02 280,873 Wachovia Corp CONV7.5%PFD CL A 929903219 770,000 2,000 PRN OTHER 01/02 2,000 Walgreen Co COM 931422109 159,134 5,140,000 SH OTHER 01/02 5,140,000 Wells Fargo & Co COM 949746101 1,877 50,000 SH PUT OTHER 01/02 50,000 Wendy's Intl Inc COM 950590109 63,144 12,004,534 SH OTHER 01/02 12,004,534 XTO Energy Inc COM 98385X106 339,171 7,290,870 SH OTHER 01/02 7,290,870 XTO Energy Inc COM 98385X106 23,260 500,000 SH CALL OTHER 01/02 500,000 Yahoo Inc COM 984332106 17,300 1,000,000 SH CALL OTHER 01/02 1,000,000