13F-HR 1 karsch3q12.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: September 30, 2012 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: Karsch Capital Management, LP Address: 110 East 59th Street 27th Floor New York, NY 10022 13F File Number: 028-10078 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: Michael A. Karsch Title: Principal Phone: (212) 507-9782 Signature, Place, and Date of Signing: /s/ Michael A. Karsch New York, NY/USA November 14, 2012 Report Type (Check only one.): [ X] 13F HOLDINGS REPORT. [ ] 13F NOTICE. [ ] 13F COMBINATION REPORT. FORM 13F SUMMARY PAGE Report Summary: Number of Other Included Managers: 0 Form 13F Information Table Entry Total: 44 Form 13F Information Table Value Total: $1,960,229 (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. NONE 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 ------------------------------ ---------------- --------- -------- -------- --- ---- ------- ------------ -------- -------- -------- ALLERGAN INC COM 018490102 68743 756660 SH SOLE 756660 0 0 AMERICAN INTL GROUP INC COM NEW 026874784 123897 3565390 SH SOLE 3565390 0 0 ANHEUSER BUSCH INBEV SA/NV SPONSORED ADR 03524a108 18713 217360 SH SOLE 217360 0 0 APPLE INC COM 037833100 5398 8800 SH SOLE 8800 0 0 CABLEVISION SYS CORP CL A NY CABLVS 12686c109 6820 377000 SH SOLE 377000 0 0 CAPITAL ONE FINL CORP COM 14040h105 74370 1239080 SH SOLE 1239080 0 0 CARMAX INC COM 143130102 35781 1082290 SH SOLE 1082290 0 0 CBS CORP NEW CL B 124857202 59797 1796778 SH SOLE 1796778 0 0 CHARTER COMMUNICATIONS INC D CL A NEW 16117m305 44503 584110 SH SOLE 584110 0 0 COMCAST CORP NEW CL A 20030n101 55728 1529720 SH SOLE 1529720 0 0 CVS CAREMARK CORPORATION COM 126650100 23455 511220 SH SOLE 511220 0 0 DISNEY WALT CO COM DISNEY 254687106 49127 967826 SH SOLE 967826 0 0 E TRADE FINANCIAL CORP COM NEW 269246401 13459 1609900 SH SOLE 1609900 0 0 EQUINIX INC COM NEW 29444u502 2677 14410 SH SOLE 14410 0 0 EXPRESS SCRIPTS HLDG CO COM 30219g108 136638 2205259 SH SOLE 2205259 0 0 FORTUNE BRANDS HOME & SEC IN COM 34964c106 30532 1132070 SH SOLE 1132070 0 0 GOLAR LNG LTD BERMUDA SHS g9456a100 24481 636520 SH SOLE 636520 0 0 HARRY WINSTON DIAMOND CORP COM 41587b100 8547 601510 SH SOLE 601510 0 0 HOME DEPOT INC COM 437076102 15224 246550 SH SOLE 246550 0 0 HUMANA INC COM 444859102 12251 164005 SH SOLE 164005 0 0 INGERSOLL-RAND PLC SHS g47791101 77967 1709420 SH SOLE 1709420 0 0 ISHARES TR S&P 500 INDEX 464287200 5827 41050 SH SOLE 41050 0 0 LINKEDIN CORP COM CL A 53578a108 11883 114120 SH SOLE 114120 0 0 LOWES COS INC COM 548661107 55280 1711454 SH SOLE 1711454 0 0 MASTERCARD INC CL A 57636q104 23834 51829 SH SOLE 51829 0 0 MCGRAW HILL COS INC COM 580645109 5452 99660 SH SOLE 99660 0 0 MOODYS CORP COM 615369105 62491 1391470 SH SOLE 1391470 0 0 MOSAIC CO NEW COM 61945c103 55070 1037690 SH SOLE 1037690 0 0 PFIZER INC COM 717081103 65458 2598580 SH SOLE 2598580 0 0 PFIZER INC COM 717081103 29820 1200000 SH CALL SOLE 1200000 0 0 QUALCOMM INC COM 747525103 93834 1609232 SH SOLE 1609232 0 0 SELECT SECTOR SPDR TR SBI INT-FINL 81369Y605 69881 4482400 SH CALL SOLE 4482400 0 0 SPDR S&P 500 ETF TR TR UNIT 78462F103 129573 900000 SH PUT SOLE 900000 0 0 STARBUCKS CORP COM 855244109 22486 500000 SH SOLE 500000 0 0 STARWOOD PPTY TR INC COM 85571b105 20761 918225 SH SOLE 918225 0 0 TIME WARNER CABLE INC COM 88732j207 65828 673780 SH SOLE 673780 0 0 TYCO INTERNATIONAL LTD SHS h89128104 137866 5140424 SH SOLE 5140424 0 0 UNITEDHEALTH GROUP INC COM 91324p102 674 12000 SH SOLE 12000 0 0 UNITEDHEALTH GROUP INC COM 91324P102 55410 1000000 SH CALL SOLE 1000000 0 0 VALSPAR CORP COM 920355104 48852 857060 SH SOLE 857060 0 0 VIACOM INC NEW CL B 92553p201 24782 461490 SH SOLE 461490 0 0 VISA INC COM CL A 92826c839 23968 175407 SH SOLE 175407 0 0 WEYERHAEUSER CO COM 962166104 51889 1861833 SH SOLE 1861833 0 0 YUM BRANDS INC COM 988498101 11202 160000 SH SOLE 160000 0 0