13F-HR 1 pers1q10.txt FORM 13F HOLDINGS REPORT UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 Form 13F Form 13F COVER PAGE Report for the Calendar Year or Quarter Ended: March 31, 2010 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: Pershing Square Capital Management, L.P. Address: 888 Seventh Avenue 42nd Floor New York, New York 10019 13F File Number: 28-11694 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: William A Ackman Title: Managing Member of PS Management GP, LLC, the General Partner of the Institutional Investment Manager filing this report Phone: 212-813-3700 Signature, Place, and Date of Signing: William A Ackman New York, NY/USA May 17, 2010 Report Type (Check only one.): [ X] 13F HOLDINGS REPORT. [ ] 13F NOTICE. [ ] 13F COMBINATION REPORT. FORM 13F SUMMARY PAGE Report Summary: Confidential information has been omitted from this Form 13F report and filed separately with the Commission. Number of Other Included Managers: 2 Form13F Information Table Entry Total: 16 Form13F Information Table Value Total: $3,317,950 (thousands) List of Other Included Managers: Provide a numbered list of the name(s) and Form 13F file number(s) of all institutional managers with respect to which this report is filed, other than the manager filing this report. No. 13F File Number Name 1 28-11695 Pershing Square GP, LLC 2 28-11926 Pershing Square Holdings GP, LLC FORM 13F INFORMATION TABLE VALUE SHARES/ SH/ PUT/ INVSTMT OTHER VOTING AUTHORITY NAME OF ISSUER TITLE OF CLASS CUSIP (x$1000) PRN AMT PRN CALL DSCRETN MANAGERS SOLE SHARED NONE ------------------------------ ---------------- --------- -------- -------- --- ---- ------- ------------ -------- -------- -------- BORDERS GROUP INC COM 099709107 18092 10518447 SH SOLE 10518447 0 0 BORDERS GROUP INC COM 099709107 137 79533 SH SHARED 1 0 79533 0 CORRECTIONS CORP AMER NEW COM NEW 22025y407 116627 5872435 SH SHARED 1 0 5872435 0 CORRECTIONS CORP AMER NEW COM NEW 22025y407 100576 5064237 SH SOLE 5064237 0 0 GENERAL GROWTH PPTYS INC COM 370021107 138397 8601425 SH SHARED 1 0 8601425 0 GENERAL GROWTH PPTYS INC COM 370021107 247019 15352357 SH SOLE 15352357 0 0 GREENLIGHT CAPITAL RE LTD CLASS A G4095J109 4238 158856 SH SOLE 158856 0 0 GREENLIGHT CAPITAL RE LTD CLASS A G4095J109 2432 91144 SH SHARED 1 0 91144 0 KRAFT FOODS INC CL A 50075N104 636579 21050903 SH SOLE 21050903 0 0 KRAFT FOODS INC CL A 50075N104 355322 11750056 SH SHARED 1 0 11750056 0 LANDRYS RESTAURANTS INC COM 51508L103 14054 784255 SH SHARED 1 0 784255 0 LANDRYS RESTAURANTS INC COM 51508L103 13798 770000 SH SOLE 770000 0 0 TARGET CORP COM 87612E106 392516 7462279 SH SHARED 2 0 7462279 0 TARGET CORP COM 87612E106 695542 13223224 SH SOLE 13223224 0 0 YUM BRANDS INC COM 988498101 373913 9755095 SH SOLE 9755095 0 0 YUM BRANDS INC COM 988498101 208708 5445035 SH SHARED 1 0 5445035 0