13F-HR 1 form13fhr.txt REPORT FOR THE PERIOD ENDED SEPTEMBER 30, 2009 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, 2009 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 this 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 16, 2009 ---------------------- --------------------- ----------------- [Signature] [City, State] [Date] 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).) FORM 13F SUMMARY PAGE Report Summary: Number of Other Included Managers: 2 Form 13F Information Table Entry Total: 77 Form 13F Information Table Value Total: 7,004,948 (thousands) 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 --- -------------------- ---- 1 028-04629 Jonathon S. Jacobson 2 028-04627 Richard L. Grubman FORM 13F INFORMATION TABLE

COL 1 COL 2 COL 3 COL 4 COL 5 COL 6 COL 7 COL 8 US $ SHARES VALUE OR SH/ PUT/ INVSTMT OTHER VOTING AUTHORITY NAME OF ISSUER TITLE OF CLASS CUSIP (x$1000) PRN AMT PRN CALL DSCRETN MANAGERS SOLE SHARED NONE ------------------------------ ---------------- --------- -------- -------- --- ---- ------- ------------ -------- -------- -------- ADVENT SOFTWARE INC COM 007974108 563 13985 SH OTHER 01/02 13985 0 0 AETNA INC NEW COM 00817Y108 74590 2680204 SH OTHER 01/02 2680204 0 0 AMERICAN EXPRESS CO COM 025816109 281434 8301881 SH OTHER 01/02 8301881 0 0 BANK OF AMERICA CORPORATION COM 060505104 175024 10344200 SH OTHER 01/02 10344200 0 0 BARRICK GOLD CORP COM 067901108 80159 2115000 SH OTHER 01/02 2115000 0 0 BERKSHIRE HATHAWAY INC DEL CL B 084670207 16615 5000 SH OTHER 01/02 5000 0 0 BERKSHIRE HATHAWAY INC DEL CL A 084670108 32623 323 SH OTHER 01/02 323 0 0 BLACKROCK INC COM 09247X101 462632 2133713 SH OTHER 01/02 2133713 0 0 BURLINGTON NORTHN SANTA FE C COM 12189T104 39915 500000 SH OTHER 01/02 500000 0 0 CABLEVISION SYS CORP CL A NY CABLVS 12686C109 79826 3361085 SH OTHER 01/02 3361085 0 0 CAPITALSOURCE INC DBCV 4.000% 7/1 14055XAE2 731 848000 PRN OTHER 01/02 848000 0 0 CAPITALSOURCE INC DBCV 3.500% 7/1 14055XAD4 6049 7550000 PRN OTHER 01/02 7550000 0 0 CELANESE CORP DEL COM SER A 150870103 23875 955000 SH OTHER 01/02 955000 0 0 CENTURYTEL INC COM 156700106 7279 216637 SH OTHER 01/02 216637 0 0 CLEAN ENERGY FUELS CORP COM 184499101 28961 2009787 SH OTHER 01/02 2009787 0 0 COMCAST CORP NEW CL A SPL 20030N200 225120 14000026 SH OTHER 01/02 14000026 0 0 COMCAST CORP NEW CL A 20030N101 15172 898264 SH OTHER 01/02 898264 0 0 COOPER INDUSTRIES PLC SHS G24140108 5636 150000 SH OTHER 01/02 150000 0 0 CVS CAREMARK CORPORATION COM 126650100 33287 931368 SH OTHER 01/02 931368 0 0 DILLARDS INC CL A 254067101 28200 2000000 SH OTHER 01/02 2000000 0 0 DIRECTV GROUP INC COM 25459L106 121967 4422301 SH OTHER 01/02 4422301 0 0 DR PEPPER SNAPPLE GROUP INC COM 26138E109 101609 3534214 SH OTHER 01/02 3534214 0 0 ECLIPSYS CORP COM 278856109 19300 1000000 SH OTHER 01/02 1000000 0 0 EMCOR GROUP INC COM 29084Q100 5697 225000 SH OTHER 01/02 225000 0 0 ENCANA CORP COM 292505104 131100 2275653 SH OTHER 01/02 2275653 0 0 ENCANA CORP COM 292505104 17283 300000 SH CALL OTHER 01/02 300000 0 0 EXXON MOBIL CORP COM 30231G102 153686 2240000 SH CALL OTHER 01/02 2240000 0 0 EXXON MOBIL CORP COM 30231G102 640127 9329933 SH OTHER 01/02 9329933 0 0 FIDELITY NATL INFORMATION SV COM 31620M106 73938 2898398 SH OTHER 01/02 2898398 0 0 FIFTH THIRD BANCORP COM 316773100 10738 1060000 SH OTHER 01/02 1060000 0 0 FIRST AMERN CORP CALIF COM 318522307 262153 8098653 SH OTHER 01/02 8098653 0 0 FISERV INC COM 337738108 46224 959000 SH OTHER 01/02 959000 0 0 GLOBAL CONSUMER ACQST CORP COM 378983100 28910 2950000 SH OTHER 01/02 2950000 0 0 HEALTHSOUTH CORP COM NEW 421924309 3429 219214 SH OTHER 01/02 219214 0 0 HILLTOP HOLDINGS INC COM 432748101 32894 2683000 SH OTHER 01/02 2683000 0 0 ISHARES TR INDEX RUSL 2000 GROW 464287648 65510 1000000 SH OTHER 01/02 1000000 0 0 ISHARES TR INDEX S&P SMLCP VALU 464287879 56240 1000000 SH OTHER 01/02 1000000 0 0 JPMORGAN CHASE & CO COM 46625H100 347536 7931000 SH OTHER 01/02 7931000 0 0 KINROSS GOLD CORP NOTE 1.750% 3/1 496902AD9 16144 15000000 PRN OTHER 01/02 15000000 0 0 KNOLOGY INC COM 499183804 10228 1049039 SH OTHER 01/02 1049039 0 0 LIBERTY MEDIA CORP NEW ENT COM SER A 53071M500 62220 2000000 SH OTHER 01/02 2000000 0 0 MASTERCARD INC CL A 57636Q104 111466 551403 SH OTHER 01/02 551403 0 0 MCCLATCHY CO CL A 579489105 2072 809303 SH OTHER 01/02 809303 0 0 MCKESSON CORP COM 58155Q103 148825 2499157 SH OTHER 01/02 2499157 0 0 MERRIMAN CURHAN FORD GROUP I COM 590418109 1651 1146461 SH OTHER 01/02 1146461 0 0 METHANEX CORP COM 59151K108 33370 1927800 SH OTHER 01/02 1927800 0 0 MGM MIRAGE COM 552953101 10836 900000 SH OTHER 01/02 900000 0 0 MONSANTO CO COM 61166W101 58050 750000 SH CALL OTHER 01/02 750000 0 0 MOTOROLA INC COM 620076109 77819 9059200 SH CALL OTHER 01/02 9059200 0 0 MOTOROLA INC COM 620076109 547451 63731214 SH OTHER 01/02 63731214 0 0 OCH ZIFF CAP MGMT GROUP CL A 67551U105 17879 1469125 SH OTHER 01/02 1469125 0 0 PACTIV CORP COM 695257105 50863 1952531 SH OTHER 01/02 1952531 0 0 PENNYMAC MTG INVT TR COM 70931T103 9955 500000 SH OTHER 01/02 500000 0 0 PEOPLES UNITED FINANCIAL INC COM 712704105 3579 230001 SH OTHER 01/02 230001 0 0 PEPSICO INC COM 713448108 190645 3250000 SH OTHER 01/02 3250000 0 0 POPULAR INC COM 733174106 10556 3730000 SH OTHER 01/02 3730000 0 0 QUALCOMM INC COM 747525103 125228 2784075 SH OTHER 01/02 2784075 0 0 RIO TINTO PLC SPONSORED ADR 767204100 9877 58000 SH OTHER 01/02 58000 0 0 RRI ENERGY INC COM 74971X107 45097 6316160 SH OTHER 01/02 6316160 0 0 SAPPHIRE INDUSTRIALS CORP COM 80306T109 19880 2000000 SH OTHER 01/02 2000000 0 0 SLM CORP COM 78442P106 378297 43382647 SH OTHER 01/02 43382647 0 0 SMITHFIELD FOODS INC COM 832248108 76093 5514016 SH OTHER 01/02 5514016 0 0 SP ACQUISITION HOLDINGS INC COM 78470A104 4840 500000 SH OTHER 01/02 500000 0 0 SPDR GOLD TRUST GOLD SHS 78463V107 131690 1332220 SH OTHER 01/02 1332220 0 0 SUNCOR ENERGY INC NEW COM 867224107 69120 2000000 SH OTHER 01/02 2000000 0 0 TIFFANY & CO NEW COM 886547108 100155 2599400 SH OTHER 01/02 2599400 0 0 TIME WARNER CABLE INC COM 88732J207 61482 1426825 SH OTHER 01/02 1426825 0 0 UNION PAC CORP COM 907818108 42304 725000 SH OTHER 01/02 725000 0 0 UNITED RENTALS INC COM 911363109 2893 280873 SH OTHER 01/02 280873 0 0 UNITEDHEALTH GROUP INC COM 91324P102 150240 6000000 SH OTHER 01/02 6000000 0 0 VISA INC COM CL A 92826C839 19558 283000 SH OTHER 01/02 283000 0 0 WALGREEN CO COM 931422109 311260 8306910 SH OTHER 01/02 8306910 0 0 WELLS FARGO & CO NEW PERP PFD CNV A 949746804 1786 2000 SH OTHER 01/02 2000 0 0 WENDYS ARBYS GROUP INC COM 950587105 16756 3542547 SH OTHER 01/02 3542547 0 0 WESTPORT INNOVATIONS INC COM NEW 960908309 8065 635000 SH OTHER 01/02 635000 0 0 WILLIAMS COS INC DEL COM 969457100 22758 1273508 SH OTHER 01/02 1273508 0 0 WYETH COM 983024100 307929 6338600 SH OTHER 01/02 6338600 0 0