0000919574-11-005919.txt : 20111110
0000919574-11-005919.hdr.sgml : 20111110
20111110112805
ACCESSION NUMBER: 0000919574-11-005919
CONFORMED SUBMISSION TYPE: 13F-HR
PUBLIC DOCUMENT COUNT: 1
CONFORMED PERIOD OF REPORT: 20110930
FILED AS OF DATE: 20111110
DATE AS OF CHANGE: 20111110
EFFECTIVENESS DATE: 20111110
FILER:
COMPANY DATA:
COMPANY CONFORMED NAME: Waterstone Capital Management, L.P.
CENTRAL INDEX KEY: 0001512370
IRS NUMBER: 000000000
STATE OF INCORPORATION: DE
FISCAL YEAR END: 1231
FILING VALUES:
FORM TYPE: 13F-HR
SEC ACT: 1934 Act
SEC FILE NUMBER: 028-14297
FILM NUMBER: 111193864
BUSINESS ADDRESS:
STREET 1: 2 CARLSON PARKWAY, SUITE 260
CITY: PLYMOUTH
STATE: MN
ZIP: 55447
BUSINESS PHONE: 952-697-4100
MAIL ADDRESS:
STREET 1: 2 CARLSON PARKWAY, SUITE 260
CITY: PLYMOUTH
STATE: MN
ZIP: 55447
13F-HR
1
d1238803_13f-hr.txt
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, 2011
Check here if Amendment: |_|; Amendment Number: ____
This Amendment (Check only one): |_| is a restatement
|_| adds new holding entries.
Institutional Manager Filing this Report:
Name: Waterstone Capital Management, L.P.
Address: 2 Carlson Parkway, Suite 260
Plymouth, Minnesota 55447
13F File Number: 028-14297
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: Martin Kalish
Title: Chief Financial Officer
Phone: (952) 697-4102
Signature, Place and Date of Signing:
/s/ Martin Kalish Plymouth, Minnesota November 10, 2011
------------------ -------------------- ------------------
[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 managers(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: None
Form 13F SUMMARY PAGE
Report Summary:
Number of Other Included Managers: 4
Form 13F Information Table Entry Total: 69
Form 13F Information Table Value Total: $1,740,713
(thousands)
List of Other Included Managers:
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.
No. Form 13F File Number Name
--- --------------------- -----
1. 028-12029 Waterstone Market Neutral Master Fund, Ltd.
2. 028-13704 Waterstone Market Neutral MAC 51 Ltd.
3. 028-14301 Waterstone Offshore ER Fund, Ltd.
4. 028-14300 Watersone MF Fund, Ltd.
FORM 13F INFORMATION TABLE
COLUMN 1 COLUMN 2 COLUMN 3 COLUMN 4 COLUMN 5 COLUMN 6 COLUMN 7 COLUMN 8
TITLE VALUE SHRS OR SH/ PUT/ INVESTMENT OTHER VOTING AUTHORITY
NAME OF ISSUER OF CLASS CUSIP (X1000) PRN AMT PRN CALL DISCRETION MNGRS SOLE SHARED NONE
ADVANCED MICRO DEVICES INC NOTE 6.000% 5/0 007903AL1 110,619 113,069,000 PRN DEFINED 1,2,3,4 113,069,000
AIR LEASE CORP CL A 00912X302 36,950 1,924,489 SH DEFINED 1,2,3,4 1,924,489
AMERISTAR CASINOS INC COM 03070Q101 1,172 73,039 SH DEFINED 1,2,3,4 73,039
ASPEN INSURANCE HOLDINGS LTD PFD PRP INC EQ G05384113 32,794 660,500 SH DEFINED 1,2,3,4 660,500
BARRETT BILL CORP NOTE 5.000% 3/1 06846NAA2 9,887 9,812,000 PRN DEFINED 1,2,3,4 9,812,000
BOYD GAMING CORP COM 103304101 858 175,000 SH DEFINED 1,2,3,4 175,000
CALLAWAY GOLF CO COM 131193104 92 17,746 SH DEFINED 1,2,3,4 17,746
CEPHALON INC NOTE 2.000% 6/0 156708AP4 77,116 44,100,000 PRN DEFINED 1,2,3,4 44,100,000
CHESAPEAKE ENERGY CORP NOTE 2.500% 5/1 165167CA3 111,482 118,471,000 PRN DEFINED 1,2,3,4 118,471,000
CONCEPTUS INC COM 206016107 3,141 300,000 SH DEFINED 1,2,3,4 300,000
CUMULUS MEDIA INC CL A 231082108 762 268,200 SH DEFINED 1,2,3,4 268,200
DELTA PETE CORP NOTE 3.750% 5/0 247907AD0 16,308 18,532,000 PRN DEFINED 1,2,3,4 18,532,000
DEVON ENERGY CORP NEW COM 25179M103 65,974 1,190,000 SH DEFINED 1,2,3,4 1,190,000
DORAL FINL CORP COM NEW 25811P886 4,952 4,542,813 SH DEFINED 1,2,3,4 4,542,813
ENERGY XXI (BERMUDA) LTD USD UNRS SHS G10082140 6,480 301,695 SH DEFINED 1,2,3,4 301,695
EXTERRAN HLDGS INC NOTE 4.250% 6/1 30225XAA1 46,620 50,880,000 PRN DEFINED 1,2,3,4 50,880,000
FREEPORT-MCMORAN COPPER & GO COM 35671D857 453 14,877 SH DEFINED 1,2,3,4 14,877
FREEPORT-MCMORAN COPPER & GO COM 35671D857 17,156 563,400 SH CALL DEFINED 1,2,3,4 563,400
GAP INC DEL COM 364760108 4,060 250,000 SH PUT DEFINED 1,2,3,4 250,000
GENERAL MTRS CO COM 37045V100 11,535 571,592 SH DEFINED 1,2,3,4 571,592
GENERAL MTRS CO *W EXP 07/10/201 37045V118 1,146 98,265 PRN DEFINED 1,2,3,4 98,265
GENERAL MTRS CO *W EXP 07/10/201 37045V126 1,257 158,265 PRN DEFINED 1,2,3,4 158,265
GENWORTH FINL INC COM CL A 37247D106 8,754 1,525,000 SH PUT DEFINED 1,2,3,4 1,525,000
GOLDMAN SACHS GROUP INC COM 38141G104 25,244 266,990 SH DEFINED 1,2,3,4 266,990
HILL ROM HLDGS INC COM 431475102 15,010 500,000 SH DEFINED 1,2,3,4 500,000
HOLOGIC INC FRNT 2.000%12/1 436440AA9 130,107 138,040,000 PRN DEFINED 1,2,3,4 138,040,000
HOLOGIC INC COM 436440101 7,357 483,700 SH DEFINED 1,2,3,4 483,700
HOSPIRA INC COM 441060100 3,515 95,000 SH DEFINED 1,2,3,4 95,000
JONES GROUP INC COM 48020T101 921 100,000 SH DEFINED 1,2,3,4 100,000
LINCARE HLDGS INC NOTE 2.750%11/0 532791AF7 35,265 34,300,000 PRN DEFINED 1,2,3,4 34,300,000
LUCENT TECHNOLOGIES INC DBCV 2.875% 6/1 549463AH0 47,023 50,500,000 PRN DEFINED 1,2,3,4 50,500,000
MEDTRONIC INC COM 585055106 31,578 949,990 SH DEFINED 1,2,3,4 949,990
MF GLOBAL HLDGS LTD NOTE 1.875% 2/0 55277JAA6 27,256 34,000,000 PRN DEFINED 1,2,3,4 34,000,000
MF GLOBAL HLDGS LTD NOTE 3.375% 8/0 55277JAB4 21,444 27,145,000 PRN DEFINED 1,2,3,4 27,145,000
MGM RESORTS INTERNATIONAL COM 552953101 3,856 415,100 SH DEFINED 1,2,3,4 415,100
MGM RESORTS INTERNATIONAL COM 552953101 1,858 200,000 SH CALL DEFINED 1,2,3,4 200,000
MGM RESORTS INTERNATIONAL COM 552953101 7,853 845,300 SH PUT DEFINED 1,2,3,4 845,300
MICROCHIP TECHNOLOGY INC SDCV 2.125%12/1 595017AB0 91,130 78,698,000 PRN DEFINED 1,2,3,4 78,698,000
MYLAN INC COM 628530107 8,335 490,600 SH DEFINED 1,2,3,4 490,600
NATIONAL OILWELL VARCO INC COM 637071101 14,568 284,420 SH DEFINED 1,2,3,4 284,420
NATUS MEDICAL INC DEL COM 639050103 4,755 500,000 SH DEFINED 1,2,3,4 500,000
NETAPP INC NOTE 1.750% 6/0 64110DAB0 160,568 131,661,000 PRN DEFINED 1,2,3,4 131,661,000
NEW YORK CMNTY CAP TR V UNIT 99/99/9999 64944P307 45,723 1,009,147 PRN DEFINED 1,2,3,4 1,009,147
OLD REP INTL CORP NOTE 8.000% 5/1 680223AF1 7,709 7,500,000 PRN DEFINED 1,2,3,4 7,500,000
OLD REP INTL CORP COM 680223104 4,361 488,900 SH DEFINED 1,2,3,4 488,900
PARKER DRILLING CO NOTE 2.125% 7/1 701081AR2 16,402 16,474,000 PRN DEFINED 1,2,3,4 16,474,000
PHH CORP NOTE 4.000% 4/1 693320AH6 6,955 7,000,000 PRN DEFINED 1,2,3,4 7,000,000
PILGRIMS PRIDE CORP NEW COM 72147K108 1,357 317,700 SH PUT DEFINED 1,2,3,4 317,700
POTASH CORP SASK INC COM 73755L107 4,042 93,520 SH DEFINED 1,2,3,4 93,520
POTASH CORP SASK INC COM 73755L107 4,322 100,000 SH PUT DEFINED 1,2,3,4 100,000
PROLOGIS NOTE 2.625% 5/1 74340XAS0 17,259 17,500,000 PRN DEFINED 1,2,3,4 17,500,000
QUICKSILVER RESOURCES INC DBCV 1.875%11/0 74837RAB0 6,987 7,000,000 PRN DEFINED 1,2,3,4 7,000,000
SANOFI RIGHT 12/31/2020 80105N113 929 875,968 PRN DEFINED 1,2,3,4 875,968
SEMGROUP CORP CL A 81663A105 850 42,582 SH DEFINED 1,2,3,4 42,582
SESI L L C FRNT 1.500%12/1 78412FAH7 1,994 2,000,000 PRN DEFINED 1,2,3,4 2,000,000
SPANSION INC COM CL A NEW 84649R200 4,890 400,137 SH DEFINED 1,2,3,4 400,137
STATE BK FINL CORP COM 856190103 26,566 2,105,101 SH DEFINED 1,2,3,4 2,105,101
SUPERVALU INC COM 868536103 1,732 260,000 SH DEFINED 1,2,3,4 260,000
SYNOVUS FINL CORP COM 87161C105 4,495 4,200,879 SH DEFINED 1,2,3,4 4,200,879
TEXAS INDS INC COM 882491103 3,641 114,700 SH PUT DEFINED 1,2,3,4 114,700
TRANSOCEAN INC NOTE 1.500%12/1 893830AW9 118,565 121,400,000 PRN DEFINED 1,2,3,4 121,400,000
TWO HBRS INVT CORP *W EXP 11/07/201 90187B119 133 671,047 PRN DEFINED 1,2,3,4 671,047
U S G CORP COM NEW 903293405 497 73,800 SH DEFINED 1,2,3,4 73,800
U S G CORP COM NEW 903293405 8,158 1,212,200 SH PUT DEFINED 1,2,3,4 1,212,200
VERISIGN INC SDCV 3.250% 8/1 92343EAD4 131,197 128,041,000 PRN DEFINED 1,2,3,4 128,041,000
VIRGIN MEDIA INC NOTE 6.500%11/1 92769LAB7 38,520 25,498,000 PRN DEFINED 1,2,3,4 25,498,000
WINDSTREAM CORP COM 97381W104 1,548 132,900 SH CALL DEFINED 1,2,3,4 132,900
XILINX INC SDCV 3.125% 3/1 983919AD3 66,756 66,306,000 PRN DEFINED 1,2,3,4 66,306,000
ZIONS BANCORPORATION *W EXP 05/22/202 989701115 7,914 3,304,231 PRN DEFINED 1,2,3,4 3,304,231
SK 21823 0002 1238803