0001193125-11-141434.txt : 20110516 0001193125-11-141434.hdr.sgml : 20110516 20110516160012 ACCESSION NUMBER: 0001193125-11-141434 CONFORMED SUBMISSION TYPE: 13F-HR PUBLIC DOCUMENT COUNT: 1 CONFORMED PERIOD OF REPORT: 20110331 FILED AS OF DATE: 20110516 DATE AS OF CHANGE: 20110516 EFFECTIVENESS DATE: 20110516 FILER: COMPANY DATA: COMPANY CONFORMED NAME: P&S Credit Management, L.P. CENTRAL INDEX KEY: 0001484159 IRS NUMBER: 731732604 STATE OF INCORPORATION: DE FISCAL YEAR END: 1231 FILING VALUES: FORM TYPE: 13F-HR SEC ACT: 1934 Act SEC FILE NUMBER: 028-13835 FILM NUMBER: 11846669 BUSINESS ADDRESS: STREET 1: 590 MADISON AVENUE STREET 2: 28TH FLOOR CITY: NEW YORK STATE: NY ZIP: 10022 BUSINESS PHONE: (212) 319-8000 MAIL ADDRESS: STREET 1: 590 MADISON AVENUE STREET 2: 28TH FLOOR CITY: NEW YORK STATE: NY ZIP: 10022 13F-HR 1 d13fhr.txt FORM 13F UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 13F FORM 13F Cover Page Report for the Calendar Year or Quarter End: March 31, 2011 If amended report check here: [_] This Amendment (check only one): [_] is a restatement [_] adds new holding entries P&S Credit Management, L.P. Name of Institutional Investment Manager 590 Madison Avenue, 28th Floor New York New York 10022 Business Address (Street) (City) (State) (Zip) 13F File Number: 028-13835 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 herein is true, correct and complete, and that it is understood that all required items, statements, schedules, and tables, are considered integral parts of this form. Person Signing this Report on Behalf of Reporting Manager: /s/ Greg Pearson ------------------------------ Chief Financial Officer (212) 319-8220 Greg Pearson (Title) (Phone) (Name) Signature, Place and Date of Signing: 590 Madison Avenue, 28th Floor New York, New York 10022 5/16/2011 Report Type: [X] 13F HOLDINGS REPORT. [_] 13F NOTICE. [_] 13F COMBINATION REPORT. FORM 13F SUMMARY PAGE Report Summary: Number of Other Included Managers: 1 Form 13F Information Table Entry Total: 140 Form 13F Information Table Value Total: $1,740,276 (thousands) List of Other Included Managers: No. Form 13F File Number: Name: --- --------------------- ----------------------------- 1. 028-14348 Moelis & Company Holdings LLC UNITED STATES SECURITIES AND EXCHANGE COMMISSION WASHINGTON, D.C. 20549 FORM 13F INFORMATION TABLE P&S CREDIT MANAGEMENT, L.P. FORM 13F INFORMATION TABLE AS OF DATE: 3/31/2011
ITEM 1 ITEM 2 ITEM 3 ITEM 4 ITEM 5 ITEM 6 ITEM 7 ITEM 8 VOTING AUTHORITY VALUE SHARES/ SH/ PUT/ INVSTMT OTHER ---------------------- NAME OF ISSUER TITLE OF CLASS CUSIP (x$1000) PRN AMT PRN CALL DSCRETN MANAGERS SOLE SHARED NONE ---------------------------- ---------------- --------- -------- ---------- --- ---- ------- -------- ---------- ------ ---- AIRCASTLE LTD COM G0129K104 1,207 100,000 CALL DEFINED 1 100,000 AIRCASTLE LTD COM G0129K104 2,414 200,000 SH DEFINED 1 200,000 ALCOA INC COM 013817101 1,766 100,000 SH DEFINED 1 100,000 ALLERGAN INC COM 018490102 194,595 2,740,000 CALL DEFINED 1 2,740,000 ALLIANCE DATA SYSTEMS CORP NOTE 1.750% 8/0 018581AD0 171 1,794,000 PRN DEFINED 1 1,794,000 ALPHA NATURAL RESOURCES INC COM 02076X102 2,820 47,500 SH DEFINED 1 47,500 AMAZON COM INC COM 023135106 27,020 150,000 PUT DEFINED 1 150,000 AMERICAN CAP LTD COM 02503Y103 1,982 200,000 SH DEFINED 1 200,000 AMERICAN CAPITAL AGENCY CORP COM 02503X105 6,994 240,000 CALL DEFINED 1 240,000 AMERICAN MED SYS HLDGS INC NOTE 4.000% 9/1 02744MAB4 7,706 5,750,000 PRN DEFINED 1 5,750,000 ANGLOGOLD ASHANTI HLDGS FIN MAND BD CV 13 03512Q206 3,064 56,913 PRN DEFINED 1 56,913 ANNALY CAP MGMT INC NOTE 4.000% 2/1 035710AA0 34,728 3,000,000 PRN DEFINED 1 3,000,000 ARVINMERITOR INC FRNT 4.000% 2/1 043353AH4 6,923 7,000,000 PRN DEFINED 1 7,000,000 BANCO BILBAO VIZCAYA ARGENTA SPONSORED ADR 05946K101 6,000 500,000 PUT DEFINED 1 500,000 BARCLAYS BK PLC IPTH S&P VIX NEW 06740C261 12,335 420,000 CALL DEFINED 1 420,000 BEAZER HOMES USA INC COM 07556Q105 1,828 400,000 CALL DEFINED 1 400,000 BELO CORP COM SER A 080555105 1,101 125,000 SH DEFINED 1 125,000 BEST BUY INC COM 086516101 10,052 350,000 CALL DEFINED 1 350,000 BLOCK H & R INC COM 093671105 3,348 200,000 CALL DEFINED 1 200,000 BOISE INC COM 09746Y105 1,832 200,000 SH DEFINED 1 200,000 BP PLC SPONSORED ADR 055622104 6,621 150,000 CALL DEFINED 1 150,000 CBS CORP NEW CL B 124857202 7,512 300,000 CALL DEFINED 1 300,000 CEDAR FAIR L P DEPOSITRY UNIT 150185106 4,736 246,650 SH DEFINED 1 246,650 CEDAR FAIR L P DEPOSITRY UNIT 150185106 960 50,000 CALL DEFINED 1 50,000 CENTERPOINT ENERGY INC COM 15189T107 7,375 420,000 CALL DEFINED 1 420,000 CENTRAL EUROPEAN DIST CORP COM 153435102 3,405 300,000 PUT DEFINED 1 300,000 CEPHALON INC NOTE 2.000% 6/0 156708AP4 24,936 15,000,000 PRN DEFINED 1 15,000,000 CITIGROUP INC COM 172967101 221 50,000 SH DEFINED 1 50,000
CITIGROUP INC *W EXP 01/04/201 172967226 149 161,800 SH DEFINED 1 161,800 COMCAST CORP NEW CL A 20030N101 33,866 1,370,000 CALL DEFINED 1 1,370,000 COMCAST CORP NEW CL A 20030N101 8,652 350,000 SH DEFINED 1 350,000 CONCHO RES INC COM 20605P101 10,730 100,000 PUT DEFINED 1 100,000 CRACKER BARREL OLD CTRY STOR COM 22410J106 16,378 333,300 PUT DEFINED 1 333,300 CRH PLC ADR 12626K203 2,322 100,000 SH DEFINED 1 100,000 CROWN CASTLE INTL CORP COM 228227104 6,383 150,000 SH DEFINED 1 150,000 CSX CORP COM 126408103 3,930 50,000 SH DEFINED 1 50,000 CVR ENERGY INC COM 12662P108 411 17,736 SH DEFINED 1 17,736 D R HORTON INC COM 23331A109 1,814 155,733 SH DEFINED 1 155,733 DEAN FOODS CO NEW COM 242370104 5,000 500,000 CALL DEFINED 1 500,000 DESARROLLADORA HOMEX S A DE SPONSORED ADR 25030W100 973 35,700 PUT DEFINED 1 35,700 DEUTSCHE BANK AG NAMEN AKT D18190898 10,042 170,000 PUT DEFINED 1 170,000 ENERGY TRANSFER PRTNRS L P UNIT LTD PARTN 29273R109 6,020 116,300 CALL DEFINED 1 116,300 ENPRO INDS INC DBCV 3.938%10/1 29355XAB3 9,156 7,244,000 PRN DEFINED 1 7,244,000 EXXON MOBIL CORP COM 30231G102 14,723 175,000 SH DEFINED 1 175,000 FEDEX CORP COM 31428X106 9,355 100,000 CALL DEFINED 1 100,000 FIDELITY NATIONAL FINANCIAL CL A 31620R105 2,826 200,000 SH DEFINED 1 200,000 FORD MTR CO DEL COM PAR $0.01 345370860 13,419 900,000 PUT DEFINED 1 900,000 FRANCE TELECOM SPONSORED ADR 35177Q105 10,130 450,000 SH DEFINED 1 450,000 FREEPORT-MCMORAN COPPER & GO COM 35671D857 8,333 150,000 CALL DEFINED 1 150,000 GANNETT INC COM 364730101 1,904 125,000 SH DEFINED 1 125,000 GENERAL MTRS CO JR PFD CNV SRB 37045V209 7,796 161,740 SH DEFINED 1 161,740 GENERAL MTRS CO COM 37045V100 24,824 800,000 CALL DEFINED 1 800,000 GENWORTH FINL INC COM CL A 37247D106 4,038 300,000 SH DEFINED 1 300,000 GRAPHIC PACKAGING HLDG CO COM 388689101 2,168 400,000 SH DEFINED 1 400,000 HEARTWARE INTL INC NOTE 3.500%12/1 422368AA8 44,568 4,000,000 PRN DEFINED 1 4,000,000 INTERNATIONAL COAL GRP INC N NOTE 4.000% 4/0 45928HAG1 6,276 3,000,000 PRN DEFINED 1 3,000,000 INTL PAPER CO COM 460146103 40,743 1,350,000 CALL DEFINED 1 1,350,000 ISHARES TR BARCLYS 20+ YR 464287432 1,658 18,000 PUT DEFINED 1 18,000 ISHARES TR RUSSELL 2000 464287655 51,765 615,000 PUT DEFINED 1 615,000 JONES GROUP INC COM 48020T101 1,375 100,000 SH DEFINED 1 100,000 JOY GLOBAL INC COM 481165108 9,881 100,000 CALL DEFINED 1 100,000 JPMORGAN CHASE & CO COM 46625H100 14,821 321,500 CALL DEFINED 1 321,500 JPMORGAN CHASE & CO COM 46625H100 6,915 150,000 SH DEFINED 1 150,000 KAPSTONE PAPER & PACKAGING C COM 48562P103 1,717 100,000 SH DEFINED 1 100,000 KEY ENERGY SVCS INC COM 492914106 4,665 300,000 CALL DEFINED 1 300,000 KEY ENERGY SVCS INC COM 492914106 1,555 100,000 SH DEFINED 1 100,000 KOHLS CORP COM 500255104 18,564 350,000 CALL DEFINED 1 350,000 KONINKLIJKE PHILIPS ELECTRS NY REG SH NEW 500472303 5,105 300,000 SH DEFINED 1 300,000 LAS VEGAS SANDS CORP COM 517834107 2,111 50,000 SH DEFINED 1 50,000 LEAP WIRELESS INTL INC COM NEW 521863308 4,641 300,000 SH DEFINED 1 300,000 LIBERTY GLOBAL INC NOTE 4.500%11/1 530555AB7 18,677 11,000,000 PRN DEFINED 1 11,000,000
LIBERTY MEDIA CORP NEW LIB STAR COM A 53071M708 15,908 205,000 CALL DEFINED 1 205,000 LIBERTY MEDIA CORP NEW LIB STAR COM A 53071M708 4,656 60,000 SH DEFINED 1 60,000 LOUISIANA PAC CORP COM 546347105 1,050 100,000 SH DEFINED 1 100,000 LYONDELLBASELL INDUSTRIES N SHS - A - N53745100 3,955 100,000 CALL DEFINED 1 100,000 MARATHON OIL CORP COM 565849106 5,331 100,000 CALL DEFINED 1 100,000 MARATHON OIL CORP COM 565849106 2,666 50,000 SH DEFINED 1 50,000 MASSEY ENERGY CO COM 576206106 1,025 15,000 SH DEFINED 1 15,000 MCCLATCHY CO CL A 579489105 2,890 850,000 SH DEFINED 1 850,000 MELCO CROWN ENTMT LTD ADR 585464100 3,040 400,000 SH DEFINED 1 400,000 MEMC ELECTR MATLS INC COM 552715104 7,776 600,000 PUT DEFINED 1 600,000 METLIFE INC UNIT 99/99/9999 59156R116 5,203 61,317 SH DEFINED 1 61,317 MGIC INVT CORP WIS COM 552848103 2,667 300,000 SH DEFINED 1 300,000 MGM RESORTS INTERNATIONAL COM 552953101 1,973 150,000 SH DEFINED 1 150,000 MICROCHIP TECHNOLOGY INC SDCV 2.125%12/1 595017AB0 14,776 10,854,000 SH DEFINED 1 10,854,000 MYLAN INC NOTE 3.750% 9/1 628530AJ6 14,683 8,000,000 PRN DEFINED 1 8,000,000 NEWELL RUBBERMAID INC COM 651229106 1,913 100,000 SH DEFINED 1 100,000 NII HLDGS INC CL B NEW 62913F201 8,334 200,000 PUT DEFINED 1 200,000 OFFICE DEPOT INC COM 676220106 1,389 300,000 CALL DEFINED 1 300,000 OIL STS INTL INC NOTE 2.375% 7/0 678026AB1 10,836 4,500,000 PRN DEFINED 1 4,500,000 OLD REP INTL CORP COM 680223104 2,538 200,000 PUT DEFINED 1 200,000 PACKAGING CORP AMER COM 695156109 2,889 100,000 SH DEFINED 1 100,000 PFIZER INC COM 717081103 24,372 1,200,000 CALL DEFINED 1 1,200,000 PMI GROUP INC COM 69344M101 310 115,000 SH DEFINED 1 115,000 POLO RALPH LAUREN CORP CL A 731572103 12,365 100,000 PUT DEFINED 1 100,000 POWERSHARES QQQ TRUST UNIT SER 1 73935A104 11,506 200,000 PUT DEFINED 1 200,000 PRIDE INTL INC DEL COM 74153Q102 3,436 80,000 SH DEFINED 1 80,000 PULTE GROUP INC COM 745867101 2,109 285,000 CALL DEFINED 1 285,000 RADIOSHACK CORP COM 750438103 3,753 250,000 CALL DEFINED 1 250,000 RITE AID CORP COM 767754104 795 750,000 SH DEFINED 1 750,000 ROVI CORP COM 779376102 10,730 200,000 PUT DEFINED 1 200,000 ROYAL CARIBBEAN CRUISES LTD COM V7780T103 8,252 200,000 PUT DEFINED 1 200,000 SAFEWAY INC COM NEW 786514208 4,708 200,000 CALL DEFINED 1 200,000 SARA LEE CORP COM 803111103 10,602 600,000 CALL DEFINED 1 600,000 SARA LEE CORP COM 803111103 2,650 150,000 SH DEFINED 1 150,000 SBA COMMUNICATIONS CORP NOTE 4.000%10/0 78388JAM8 5,853 4,000,000 PRN DEFINED 1 4,000,000 SELECT SECTOR SPDR TR SBI INT-ENERGY 81369Y506 2,791 35,000 PUT DEFINED 1 35,000 SELECT SECTOR SPDR TR SBI MATERIALS 81369Y100 3,202 80,000 PUT DEFINED 1 80,000 SMURFIT-STONE CONTAINER CORP COM 83272A104 3,865 99,999 SH DEFINED 1 99,999 SOLUTIA INC COM NEW 834376501 3,302 130,000 SH DEFINED 1 130,000 SOUTHWESTERN ENERGY CO COM 845467109 8,594 200,000 CALL DEFINED 1 200,000 SPDR GOLD TRUST GOLD SHS 78463V107 97,902 700,000 PUT DEFINED 1 700,000 SPDR GOLD TRUST GOLD SHS 78463V107 97,902 700,000 CALL DEFINED 1 700,000 SPDR S&P 500 ETF TR TR UNIT 78462F103 94,139 710,000 CALL DEFINED 1 710,000
SPDR S&P 500 ETF TR TR UNIT 78462F103 201,537 1,520,000 PUT DEFINED 1 1,520,000 SPDR S&P 500 ETF TR TR UNIT 78462F103 59,665 450,000 SH DEFINED 1 450,000 SPRINT NEXTEL CORP COM SER 1 852061100 4,640 1,000,000 CALL DEFINED 1 1,000,000 SPRINT NEXTEL CORP COM SER 1 852061100 7,888 1,700,000 SH DEFINED 1 1,700,000 STANDARD PAC CORP NEW COM 85375C101 2,145 575,000 SH DEFINED 1 575,000 TEMPLE INLAND INC COM 879868107 3,510 150,000 SH DEFINED 1 150,000 TEXTRON INC COM 883203101 8,217 300,000 CALL DEFINED 1 300,000 TIME WARNER CABLE INC COM 88732J207 5,707 80,000 SH DEFINED 1 80,000 TIVO INC COM 888706108 744 85,000 CALL DEFINED 1 85,000 TIVO INC COM 888706108 3,063 350,000 SH DEFINED 1 350,000 TOYOTA MOTOR CORP SP ADR REP2COM 892331307 12,038 150,000 CALL DEFINED 1 150,000 TRANSDIGM GROUP INC COM 893641100 9,221 110,000 PUT DEFINED 1 110,000 UBS AG SHS NEW H89231338 4,693 260,000 PUT DEFINED 1 260,000 UNITED CONTL HLDGS INC COM 910047109 6,897 300,000 SH DEFINED 1 300,000 VALE S A ADR 91912E105 6,670 200,000 PUT DEFINED 1 200,000 VERSO PAPER CORP COM 92531L108 1,832 342,500 SH DEFINED 1 342,500 VIRGIN MEDIA INC NOTE 6.500%11/1 92769LAB7 5,125 5,000,000 PRN DEFINED 1 5,000,000 WARNER MUSIC GROUP CORP COM 934550104 677 100,000 SH DEFINED 1 100,000 WAUSAU PAPER CORP COM 943315101 1,528 200,000 SH DEFINED 1 200,000 WEBMD HEALTH CORP COM 94770V102 892 16,700 CALL DEFINED 1 16,700 WENDYS ARBYS GROUP INC COM 950587105 4,024 800,000 SH DEFINED 1 800,000 WHIRLPOOL CORP COM 963320106 8,536 100,000 CALL DEFINED 1 100,000 WILLIAMS COS INC DEL COM 969457100 6,860 220,000 CALL DEFINED 1 220,000 WILLIAMS COS INC DEL COM 969457100 4,833 155,000 SH DEFINED 1 155,000 YAHOO INC COM 984332106 3,336 200,000 CALL DEFINED 1 200,000 YAHOO INC COM 984332106 3,336 200,000 DEFINED 1 200,000