UNITED STATES
              SECURITIES AND EXCHANGE COMMISSION
                    Washington, D.C. 20549
                           Form 13F
                     Form 13F COVER PAGE
Report for the Calendar Year or Quarter Ended: 12-31-08

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: Wayzata Investment Partners LLC
Address: 701 East Lake Street, Suite 300
         Wayzata, MN 55391

Form 13F File Number:
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: Patrick J. Halloran
Title: Managing Partner
Phone: (952) 345-0700

Signature, Place, and Date of Signing:

/s/ Patrick J. Halloran
- ------------------------    Wayzata, MN      2-17-09
[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).)

List of Other Managers Reporting for this Manager:
[If there are no entries in this list, omit this section.]

    Form 13F File Number        Name
    28-
       ------------------       ------------------------
    [Repeat as necessary.]


                             Form 13F SUMMARY PAGE
 Report Summary:
 Number of Other Included Managers: 0
 Form 13F Information Table Entry Total: 12
 Form 13F Information Table Value Total: $739,602
                                       (thousands)
 List of Other Included Managers: NONE

 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.

 [If there are no entries in this list, state "NONE" and omit the
 column headings and list entries.]

     No.       Form 13F File Number          Name
               28-
     ----      ---------------------          ----------------------
     [Repeat as necessary.]






COLUMN 1                      COLUMN 2      COLUMN 3  COLUMN 4    COLUMN 5    COLUMN 6   COLUMN 7           COLUMN 8
                                                                                                        VOTING AUTHORITY
                                                        VALUE    SHARES OR   INVESTMENT    OTHER   -------------------------
NAME OF ISSUER             TITLE OF CLASS    CUSIP    (x$1000)    PRIN AMT   DISCRETION  MANAGERS      SOLE     SHARED  NONE
- ------------------------  ---------------  ---------  --------  -----------  ----------  --------  -----------  ------  ----
                                                                                               
AEP INDS INC              COM              001031103  $ 11,085      630,554     SOLE                   630,554     0      0
AMERICREDIT CORP          NOTE 0.750% 9/1  03060RAP6  $  4,050  $ 9,000,000     SOLE               $ 9,000,000     0      0
AMERICREDIT CORP          NOTE 2.125% 9/1  03060RAR2  $ 18,450  $45,000,000     SOLE               $45,000,000     0      0
DELTA AIR LINES INC DEL   COM NEW          247361702  $309,906   27,042,421     SOLE                27,042,421     0      0
DYNEGY INC DEL            CL A             26817G102  $ 18,814    9,407,000     SOLE                 9,407,000     0      0
ENERGY XXI (BERMUDA) LTD  COM SHS          G10082108  $    395      500,000     SOLE                   500,000     0      0
GASTAR EXPL LTD           COM              367299104  $  2,194    6,564,899     SOLE                 6,564,899     0      0
HUNTSMAN CORP             COM              447011107  $ 14,190    4,125,000     SOLE                 4,125,000     0      0
LINN ENERGY LLC           UNIT LTD LIAB    536020100  $  5,362      358,209     SOLE                   358,209     0      0
OWENS CORNING NEW         COM              690742101  $334,316   19,324,614     SOLE                19,324,614     0      0
PAETEC HOLDING CORP       COM              695459107  $ 17,828   12,380,643     SOLE                12,380,643     0      0
RIVIERA HLDGS CORP        COM              769627100  $  3,012    1,004,000     SOLE                 1,004,000     0      0
                                                      --------
                                                      $739,602
                                                      ========