The second installment debuted at the top spot despite a slow weekend.
Warner Bros. expects the movie to make up lost ground over the holidays.
"Alvin and the Chipmunks: Chipwrecked" came in second with $23.5 million.
And another sequel, Tom Cruise's "Mission: Impossible - Ghost Protocol" raked in $13 million to snag the No. 3 spot.
The ensemble cast of "New Year's Eve" ranked No. 4 with $7.4 million, and Jonah Hill's "The Sitter" rounded out the top five with $4.4 million.
The top 10 movies of the weekend were:
1. "Sherlock Holmes: A Game of Shadows," $40 million ($14.7
million international).
2. "Alvin and the Chipmunks: Chipwrecked," $23.5 million
($14.5 million international).
3. "Mission: Impossible - Ghost Protocol," $13 million ($68.2
million international).
4. "New Year's Eve," $7.4 million.
5. "The Sitter," $4.4 million.
6. "The Twilight Saga: Breaking Dawn - Part 1," $4.3 million.
7. "Young Adult," $3.7 million.
8. "Hugo," $3.63 million.
9. "Arthur Christmas," $3.6 million ($9.7 million
international).
10. "The Muppets," $3.5 million ($600,000 international)
The Associated Press contributed to this report.
