13F-HR 1 c17050e13fvhr.txt FORM 13F-HR UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 13F FORM 13F COVER PAGE Report for the Calendar Year or Quarter Ended: March 31, 2011 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: WS Capital Management, L.P. Address: 300 Crescent Court, Suite 1111 Dallas, Texas 75201 Form 13F File Number: 28-10349 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: Reid S. Walker Contact Person: Joseph I. Worsham, II Title: Member of WS Capital, L.L.C., general partner of WS Capital Management, L.P. Phone: (214)756-6056 Signature, Place and Date of Signing: /s/ Reid S. Walker Dallas, Texas May 16, 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 manager(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).) FORM 13F SUMMARY PAGE Report Summary: Number of Other Included Managers: 0 Form 13F Information Table Entry Total: 79 Form 13F Information Table Value Total: $1,058,515 (in 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. NONE FORM 13F Information Table

GRAHAM PACKAGING CO INC COM 384701108 10,109 580,000 SH SOLE - 580,000 0 0 GRAN TIERRA ENERGY INC COM 38500T101 1,977 245,000 SH SOLE - 245,000 0 0 GREIF INC CL A 397624107 29,134 445,400 SH SOLE - 445,400 0 0 HECKMANN CORP COM 422680108 8,581 1,310,000 SH SOLE - 1,310,000 0 0 HECKMANN CORP *W EXP 11/09/201 422680116 1,136 1,196,100 SH SOLE - 1,196,100 0 0 HEELYS INC COM 42279M107 1,150 500,000 SH SOLE - 500,000 0 0 HERTZ GLOBAL HOLDINGS INC COM 42805T105 37,668 2,410,000 SH SOLE - 2,410,000 0 0 HFF INC CL A 40418F108 15,040 1,000,000 SH SOLE - 1,000,000 0 0 HILLTOP HOLDINGS INC COM 432748101 3,815 380,000 SH SOLE - 380,000 0 0 HOLLY CORP COM PAR $0.01 435758305 18,836 310,000 SH SOLE - 310,000 0 0 ISHARES TR RUSSELL 2000 464287655 42,085 500,000 SH PUT SOLE - 500,000 0 0 ITT EDUCATIONAL SERVICES INC COM 45068B109 3,608 50,000 SH PUT SOLE - 50,000 0 0 K V PHARMACEUTICAL CO CL A 482740206 2,246 375,000 SH SOLE - 375,000 0 0 LIBERTY MEDIA CORP NEW LIB STAR COM A 53071M708 13,968 180,000 SH SOLE - 180,000 0 0 MARATHON OIL CORP COM 565849106 61,307 1,150,000 SH SOLE - 1,150,000 0 0 MARATHON OIL CORP COM 565849106 79,965 1,500,000 SH CALL SOLE - - - - MATTEL INC COM 577081102 7,105 285,000 SH SOLE - 285,000 0 0 MEDCATH CORP COM 58404W109 20,925 1,500,000 SH SOLE - 1,500,000 0 0 MOLSON COORS BREWING CO CL B 60871R209 18,287 390,000 SH SOLE - 390,000 0 0 NATIONAL OILWELL VARCO INC COM 637071101 5,549 70,000 SH SOLE - 70,000 0 0 NCR CORP NEW COM 62886E108 29,202 1,550,000 SH SOLE - 1,550,000 0 0 NORTH AMERN PALLADIUM LTD COM 656912102 7,788 1,200,000 SH SOLE - 1,200,000 0 0 NORTHERN DYNASTY MINERALS LT COM NEW 66510M204 17,296 1,150,000 SH SOLE - 1,150,000 0 0 NORTHERN DYNASTY MINERALS LT COM NEW 66510M204 3,760 250,000 SH CALL SOLE - - - - OIL STS INTL INC COM 678026105 7,995 105,000 SH SOLE - 105,000 0 0 PACWEST BANCORP DEL COM 695263103 10,875 500,000 SH SOLE - 500,000 0 0 PIONEER NAT RES CO COM 723787107 20,384 200,000 SH SOLE - 200,000 0 0 PROSPERITY BANCSHARES INC COM 743606105 3,635 85,000 SH SOLE - 85,000 0 0 SANDRIDGE ENERGY INC COM 80007P307 7,680 600,000 SH SOLE - 600,000 0 0 SEASPAN CORP SHS Y75638109 15,560 800,000 SH SOLE - 800,000 0 0 SKECHERS U S A INC CL A 830566105 7,908 385,000 SH SOLE - 385,000 0 0 SODASTREAM INTERNATIONAL LTD USD SHS M9068E105 5,257 120,000 SH SOLE - 120,000 0 0 SPIRIT AEROSYSTEMS HLDGS INC COM CL A 848574109 2,567 100,000 SH SOLE - 100,000 0 0 SPRINT NEXTEL CORP COM SER 1 852061100 16,472 3,550,000 SH SOLE - 3,550,000 0 0 SPRINT NEXTEL CORP COM SER 1 852061100 10,208 2,200,000 SH CALL SOLE - - - - STEPAN CO COM 858586100 5,800 80,000 SH SOLE - 80,000 0 0 STRAYER ED INC COM 863236105 13,832 106,000 SH SOLE - 106,000 0 0 STRAYER ED INC COM 863236105 6,525 50,000 SH CALL SOLE - - - - SWS GROUP INC COM 78503N107 607 100,000 SH SOLE - 100,000 0 0 TENET HEALTHCARE CORP COM 88033G100 45,631 6,125,000 SH SOLE - 6,125,000 0 0

ST JOE CO COM 790148100 1,128 45,000 SH SOLE - 45,000 0 0 THQ INC COM NEW 872443403 15,116 3,315,000 SH SOLE - 3,315,000 0 0 TPC GROUP INC COM 89236Y104 5,197 180,000 SH SOLE - 180,000 0 0 UNISYS CORP COM NEW 909214306 6,244 200,000 SH SOLE - 200,000 0 0 UNITED CMNTY BKS BLAIRSVLE G CAP STK 90984P105 233 100,000 SH SOLE - 100,000 0 0 UNIVERSAL AMERICAN CORP COM 913377107 5,155 225,000 SH SOLE - 225,000 0 0 URANIUM RES INC COM PAR $0.001 916901507 3,105 1,500,000 SH SOLE - 1,500,000 0 0 WARNER CHILCOTT PLC IRELAND SHS A G94368100 16,282 700,000 SH SOLE - 700,000 0 0 WELLCARE HEALTH PLANS INC COM 94946T106 9,439 225,000 SH SOLE - 225,000 0 0

WS CAPITAL MANAGEMENT LP 13F-HR