13F-HR 1 king4q10.txt KINGSTOWN CAPITAL MANAGEMENT, LP 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: Kingstown Capital Management LP Address: 11 East 44th Street, Suite 704 New York, NY 10017 13F File Number: 028-NEW 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: Mark Rosenthal Title: Chief Financial Officer Phone: 212-319-1309 Signature, Place, and Date of Signing: /s/ Mark Rosenthal New York, NY February 04, 2011 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: 16 Form 13F Information Table Value Total: $195,420 (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 ------------------------------ ---------------- --------- -------- -------- --- ---- ------- ------------ -------- -------- -------- AMBASSADORS INTL INC NOTE 3.750% 4/1 023178AA4 2614 8000000 PRN SOLE 8000000 0 0 BANK OF AMERICA CORPORATION *W EXP 01/16/201 060505146 2746 384500 SH SOLE 384500 0 0 COCA COLA ENTERPRISES INC NE COM 19122T109 11378 454600 SH SOLE 454600 0 0 COMPUCREDIT HLDGS CORP NOTE 3.625% 5/3 20478NAB6 13491 15750000 PRN SOLE 15750000 0 0 COMPUCREDIT HLDGS CORP NOTE 5.875%11/3 20478NAD2 1107 2000000 PRN SOLE 2000000 0 0 ENERGY PARTNERS LTD COM NEW 29270U303 4780 321669 SH SOLE 321669 0 0 FURIEX PHARMACEUTICALS INC COM 36106P101 9371 648491 SH SOLE 648491 0 0 GENERAL MTRS CO JR PFD CNV SRB 37045V209 19209 355000 SH SOLE 355000 0 0 LENDER PROCESSING SVCS INC COM 52602E102 14210 481369 SH SOLE 481369 0 0 LIBERTY MEDIA CORP NEW LIB STAR COM A 53071M708 15596 234606 SH SOLE 234606 0 0 MI DEVS INC CL A SUB VTG 55304X104 27506 1014987 SH SOLE 1014987 0 0 QLT INC COM 746927102 20154 2749524 SH SOLE 2749524 0 0 SYMETRA FINL CORP COM 87151Q106 8021 585455 SH SOLE 585455 0 0 VODAFONE GROUP PLC NEW SPONS ADR NEW 92857W209 19043 720500 SH SOLE 720500 0 0 WALTER INVT MGMT CORP COM 93317W102 12909 719554 SH SOLE 719554 0 0 WILLIAMS COS INC DEL COM 969457100 13285 537419 SH SOLE 537419 0 0