13F-HR 1 p13f-0331.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: 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: Pia Capital Management LP. Address: 3 River Road Greenwich, CT 06807 13F File Number: 28- The institutional investment manager filing this report and the person by whom it is signedhereby represent that the person signing the report is authorized to submit it, that all informationcontained 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 submission. Person Signing this Report on Behalf of Reporting Manager: Name: Patrick Iuliano Title: Chief Financial Officer and Head of Compliance Phone: 203-742-1607 Signature, Place, and Date of Signing: PATRICK IULIANO Cos Cob, CT April 13, 2011 Report Type (Check only one.): [ X] 13F HOLDINGS REPORT. [ ] 13F NOTICE. [ ] 13F COMBINATION REPORT. List of Other Managers Reporting for this Manager: FORM 13F SUMMARY PAGE Report Summary: Number of Other Included Managers: 0 Form 13F Information Table Entry Total: 24 Form 13F Information Table Value Total: $121,905 List of Other Included Managers: No. 13F File Number Name FORM 13F INFORMATION TABLE

Voting Authority Name of Issuer Title of Class CUSIP Value (x1000) Quantity Sh/Prn Put/Call Invstmt Dscretn Other Managers Sole Shared None ~~AMERICAN~~BANCO ~~EXPRESS~~SANTANDER COSA ~~COM~~ADR ~~025816109~~05964H105 ~~7511~~3487 ~~175000~~297500 SH ~~CALL~~ SOLE ~~CAI~~297500 ~~INTERNATIONAL~~BANK ~~INC~~OF AMERICA CORPORATION COM ~~12477X106~~060505104 ~~1470~~6798 ~~75000~~510000 SH CALL SOLE ~~75000~~ CF INDS HLDGS INC COM 125269100 ~~2703~~5632 ~~20000~~41175 SH SOLE ~~20000~~41175 ~~CITIGROUP~~FORD ~~INC~~MTR CO DEL COM ~~172967101~~PAR ~~2602~~$0.01 ~~550000~~345370860 3485 233750 SH SOLE ~~550000~~233750 FORTINET INC COM 34959E109 ~~2426~~1694 ~~75000~~38500 SH SOLE ~~75000~~38500 ~~FORTINET~~FREEPORT-MCMORAN COPPER & GO COM 35671D857 4722 85000 SH CALL SOLE GENERAL MARITIME CORP NEW SHS Y2693R101 871 425000 SH SOLE 425000 GENERAL MTRS CO COM 37045V100 2870 92500 SH SOLE 92500 HESS CORP COM 42809H107 10864 127500 SH CALL SOLE INTERNATIONAL COAL GRP INC N COM ~~34959E109~~45928H106 ~~2426~~3602 ~~75000~~318750 SH SOLE 318750 ISHARES INC MSCI JAPAN 464286848 3505 340000 SH SOLE 340000 ISHARES INC MSCI TURKEY FD 464286715 2713 42500 SH SOLE 42500 ISHARES TR FTSE CHINA25 IDX464287184 7643 170000 SH CALL SOLE ISHARES TR RUSSELL 2000 464287655 ~~6258~~21463 ~~80000~~255000 SH PUT SOLE ~~SANDISK~~NEWMONT MINING CORP COM ~~80004C101~~651639106 ~~1496~~4639 ~~30000~~85000 SH SOLE ~~30000~~85000 ~~SKY-MOBI~~OIL ~~LTD~~SVC ~~SPONSORED~~HOLDRS ~~ADS~~TR ~~83084G109~~DEPOSTRY ~~1126~~RCPT ~~210000~~678002106 3493 21250 SH SOLE ~~210000~~21250 ~~SOURCEFIRE~~QUALCOMM INC COM ~~83616T108~~747525103 ~~2074~~4661 ~~80000~~85000 SH CALL SOLE ~~80000~~SELECT ~~STILLWATER~~SECTOR ~~MNG~~SPDR COTR ~~COM~~SBI ~~86074Q102~~INT-INDS ~~5338~~81369Y704 ~~250000~~3203 85000 SH SOLE ~~250000~~85000 ~~TERADATA~~SELECT ~~CORP~~SECTOR ~~DEL~~SPDR ~~COM~~TR ~~88076W103~~SBI ~~1955~~INT-UTILS ~~47500~~81369Y886 5423 170000 SH SOLE ~~47500~~170000 ~~UNITED~~SPDR ~~STATES~~GOLD ~~STL~~TRUST ~~CORP~~GOLD ~~NEW~~SHS 78463V107 4754 34000 SH PUT SOLE STILLWATER MNG CO COM ~~912909108~~86074Q102 ~~5842~~3087 ~~100000~~134638 SH SOLE ~~100000~~134638 TEVA PHARMACEUTICAL INDS LTD ADR 881624209 4264 85000 SH SOLE 85000 VALERO ENERGY CORP NEW COM 91913Y100 ~~2890~~6337 ~~125000~~212500 SH CALL SOLE ~~125000~~ WELLS FARGO & CO NEW COM 949746101 ~~9297~~2695 ~~300000~~85000 SH CALL SOLE

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