13F-HR 1 form13fhr.txt REPORT FOR THE PERIOD ENDED JUNE 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: June 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 August 14, 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: 69 Form 13F Information Table Value Total: 5,193,443 (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 459 13985 SH OTHER 01/02 13985 0 0 AETNA INC COM 00817Y108 88658 3539228 SH OTHER 01/02 3539228 0 0 ALTERNATIVE ASSET MGMT ACQU COM 02149U101 7328 750000 SH OTHER 01/02 750000 0 0 AMERICAN EXPRESS CO COM 025816109 192936 8301881 SH OTHER 01/02 8301881 0 0 BANK OF AMERICA CORPORATION COM 060505104 188815 14304200 SH OTHER 01/02 14304200 0 0 BLACKROCK INC COM 09247X101 374296 2133713 SH OTHER 01/02 2133713 0 0 BURLINGTON NORTHN SANTA FE COM 12189T104 36770 500000 SH OTHER 01/02 500000 0 0 CABLEVISION SYS CORP CL A NY CABLVS 12686C109 65239 3361085 SH OTHER 01/02 3361085 0 0 CAPITAL ONE FINL CORP COM 14040H105 18096 827035 SH OTHER 01/02 827035 0 0 CAPITALSOURCE INC DBCV 3.500% 7/1 14055XAD4 5408 7550000 PRN OTHER 01/02 7550000 0 0 CAPITALSOURCE INC DBCV 4.000% 7/1 14055XAE2 665 848000 PRN OTHER 01/02 848000 0 0 CAPITALSOURCE INC NOTE 7.250% 7/1 14055XAG7 38209 53814800 PRN OTHER 01/02 53814800 0 0 CARNIVAL CORP PAIRED CTF 143658300 13014 505000 SH OTHER 01/02 505000 0 0 CERNER CORP COM 156782104 18687 300000 SH PUT OTHER 01/02 300000 0 0 CERNER CORP COM 156782104 18687 300000 SH CALL OTHER 01/02 300000 0 0 COMCAST CORP CL A SPL 20030N200 197400 14000026 SH OTHER 01/02 14000026 0 0 COMCAST CORP CL A 20030N101 13016 898264 SH OTHER 01/02 898264 0 0 CVS CAREMARK CORPORATION COM 126650100 29683 931368 SH OTHER 01/02 931368 0 0 DEVRY INC COM 251893103 3263 65198 SH OTHER 01/02 65198 0 0 DILLARDS INC CL A 254067101 18400 2000000 SH OTHER 01/02 2000000 0 0 DIRECTV GROUP INC COM 25459L106 109275 4422301 SH OTHER 01/02 4422301 0 0 DR PEPPER SNAPPLE GROUP INC COM 26138E109 74890 3534214 SH OTHER 01/02 3534214 0 0 ECLIPSYS CORP COM 278856109 17780 1000000 SH OTHER 01/02 1000000 0 0 EMBARQ CORP COM 29078E105 6651 158131 SH OTHER 01/02 158131 0 0 FIDELITY NATL INFORMATION SV COM 31620M106 79472 3981569 SH OTHER 01/02 3981569 0 0 FIFTH THIRD BANCORP COM 316773100 57226 8060000 SH OTHER 01/02 8060000 0 0 FIRST AMERN CORP CALIF CORP 318522307 227694 8787879 SH OTHER 01/02 8787879 0 0 FISERV INC COM 337738108 27192 595000 SH OTHER 01/02 595000 0 0 GLOBAL CONSUMER ACQST CORP COM 378983100 28497 2950000 SH OTHER 01/02 2950000 0 0 HEALTHSOUTH CORP COM NEW 421924309 3165 219214 SH OTHER 01/02 219214 0 0 HILLTOP HOLDINGS INC COM 432748101 31847 2683000 SH OTHER 01/02 2683000 0 0 ISHARES TR RUSL 2000 GROW 464287648 56690 1000000 SH OTHER 01/02 1000000 0 0 ISHARES TR S&P SMLCP VALU 464287879 47130 1000000 SH OTHER 01/02 1000000 0 0 JPMORGAN CHASE & CO COM 46625H100 250231 7336000 SH OTHER 01/02 7336000 0 0 KNOLOGY INC COM 499183804 9053 1049039 SH OTHER 01/02 1049039 0 0 LIBERTY MEDIA CORP NEW ENT COM SER A 53071M500 53400 2000000 SH OTHER 01/02 2000000 0 0 MASTERCARD INC CL A 57636Q104 92255 551403 SH OTHER 01/02 551403 0 0 MCCLATCHY CO CL A 579489105 405 809303 SH OTHER 01/02 809303 0 0 MCKESSON CORP COM 58155Q103 109963 2499157 SH OTHER 01/02 2499157 0 0 MERRIMAN CURHAN FORD GROUP COM 590418109 516 1146461 SH OTHER 01/02 1146461 0 0 MGM MIRAGE COM 552953101 9585 1500000 SH OTHER 01/02 1500000 0 0 MOTOROLA INC COM 620076109 414703 62549547 SH OTHER 01/02 62549547 0 0 MOTOROLA INC COM 620076109 12114 1827200 SH CALL OTHER 01/02 1827200 0 0 OCH ZIFF CAP MGMT GROUP CL A 67551U105 13090 1469125 SH OTHER 01/02 1469125 0 0 PACTIV CORP COM 695257105 12098 557531 SH OTHER 01/02 557531 0 0 PEOPLES UNITED FINANCIAL INC COM 712704105 3459 230001 SH OTHER 01/02 230001 0 0 PEPSICO INC COM 713448108 167628 3050000 SH OTHER 01/02 3050000 0 0 PNC FINL SVCS GROUP INC COM 693475105 11189 288301 SH OTHER 01/02 288301 0 0 PROCTOR & GAMBLE CO COM 742718109 25550 500000 SH OTHER 01/02 500000 0 0 QUALCOMM INC COM 747525103 103240 2284075 SH OTHER 01/02 2284075 0 0 SAPPHIRE INDUSTRIALS CORP COM 80306T109 19540 2000000 SH OTHER 01/02 2000000 0 0 SLM CORP COM 78442P106 408214 39748232 SH OTHER 01/02 39748232 0 0 SMITHFIELD FOODS INC COM 832248108 26658 1908200 SH OTHER 01/02 1908200 0 0 SP ACQUISITION HOLDINGS INC COM 78470A104 4840 500000 SH OTHER 01/02 500000 0 0 SPDR GOLD TRUST GOLD SHS 78463V107 215387 2362220 SH OTHER 01/02 2362220 0 0 TIFFANY & CO COM 886547108 65921 2599400 SH OTHER 01/02 2599400 0 0 TIME WARNER CABLE INC COM 88732J207 45188 1426825 SH OTHER 01/02 1426825 0 0 TRANSALTA CORP COM 89346D107 50234 2620000 SH OTHER 01/02 2620000 0 0 UNION PAC CORP COM 907818108 37744 725000 SH OTHER 01/02 725000 0 0 UNITED RENTALS INC COM 911363109 1823 280873 SH OTHER 01/02 280873 0 0 UNITEDHEALTH GROUP INC COM 91324P102 149880 6000000 SH OTHER 01/02 6000000 0 0 VISA INC COM CL A 92826C839 17620 283000 SH OTHER 01/02 283000 0 0 VORNADO RLTY TR DBCV 2.850% 4/0 929042AC3 28438 32500000 PRN OTHER 01/02 32500000 0 0 VORNADO RLTY TR DBCV 3.625%11/1 929043AE7 4550 5000000 PRN OTHER 01/02 5000000 0 0 WALGREEN CO COM 931422109 347123 11806910 SH OTHER 01/02 11806910 0 0 WELLS FARGO & CO PERP PFD CNV A 949746804 1304 2000 SH OTHER 01/02 2000 0 0 WENDYS ARBYS GROUP INC COM 950587105 14170 3542547 SH OTHER 01/02 3542547 0 0 WILLIAMS COS INC COM 969457100 218253 13981608 SH OTHER 01/02 13981608 0 0 WYETH COM 983024100 151539 3338600 SH OTHER 01/02 3338600 0 0