13F-HR 1 pers4q10.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: December 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 February 14, 2011 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: 1 Form13F Information Table Entry Total: 25 Form13F Information Table Value Total: $5,837,871 (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 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 ------------------------------ ---------------- --------- -------- -------- --- ---- ------- ------------ -------- -------- -------- AUTOMATIC DATA PROCESSING IN COM 053015103 40784 881248 SH SOLE 881248 0 0 AUTOMATIC DATA PROCESSING IN COM 053015103 24227 523485 SH SHARED 1 0 523485 0 BORDERS GROUP INC COM 099709107 72 79533 SH SHARED 1 0 79533 0 BORDERS GROUP INC COM 099709107 9469 10518447 SH SOLE 10518447 0 0 CITIGROUP INC COM 172967101 257900 54524253 SH SHARED 1 0 54524253 0 CITIGROUP INC COM 172967101 435113 91990034 SH SOLE 91990034 0 0 CORRECTIONS CORP AMER NEW COM NEW 22025y407 91458 3649571 SH SHARED 1 0 3649571 0 CORRECTIONS CORP AMER NEW COM NEW 22025y407 104697 4177859 SH SOLE 4177859 0 0 FORTUNE BRANDS INC COM 349631101 486653 8077222 SH SHARED 1 0 8077222 0 FORTUNE BRANDS INC COM 349631101 517633 8591414 SH SOLE 8591414 0 0 GENERAL GROWTH PPTYS INC NEW COM 370023103 595405 38462871 SH SOLE 38462871 0 0 GENERAL GROWTH PPTYS INC NEW COM 370023103 487665 31502915 SH SHARED 1 0 31502915 0 GENERAL MTRS CO COM 37045v100 166160 4507856 SH SOLE 4507856 0 0 GENERAL MTRS CO COM 37045v100 98781 2679884 SH SHARED 1 0 2679884 0 GREENLIGHT CAPITAL RE LTD CLASS A G4095J109 2444 91144 SH SHARED 1 0 91144 0 GREENLIGHT CAPITAL RE LTD CLASS A G4095J109 4259 158856 SH SOLE 158856 0 0 HOWARD HUGHES CORP COM 44267d107 104587 1921843 SH SHARED 1 0 1921843 0 HOWARD HUGHES CORP COM 44267d107 89585 1646174 SH SOLE 1646174 0 0 KRAFT FOODS INC CL A 50075N104 163767 5197313 SH SHARED 1 0 5197313 0 KRAFT FOODS INC CL A 50075N104 449735 14272776 SH SOLE 14272776 0 0 PENNEY J C INC COM 708160106 134303 4156700 SH CALL SOLE 4156700 0 0 PENNEY J C INC COM 708160106 548787 16985050 SH SHARED 1 0 16985050 0 PENNEY J C INC COM 708160106 579448 17934021 SH SOLE 17934021 0 0 TARGET CORP COM 87612E106 279430 4647099 SH SOLE 4647099 0 0 TARGET CORP COM 87612E106 165509 2752523 SH SHARED 1 0 2752523 0