13F-HR 1 d1166004_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 December 31, 2010 Check here if Amendment: |_|; Amendment Number: ____ This Amendment (Check only one): |_| is a restatement |_| adds new holding entries. Institutional Manager Filing this Report: Name: Deltec Asset Management LLC Address: 623 Fifth Avenue New York, New York 10022 13F File Number: 028-10538 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: Stephen Zuppello Title: Senior Managing Director Phone: (212) 546-6285 Signature, Place and Date of Signing: /s/ Stephen Zuppello New York, New York January 26, 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: 0 Form 13F Information Table Entry Total: 125 Form 13F Information Table Value Total: $346,056 (thousands) List of Other Included Managers: NONE FORM 13F INFORMATION TABLE
COLUMN 1 COLUMN 2 COLUMN 3 COLUMN 4 COLUMN 5 COLUMN 6 COLUMN 7 COLUMN 8 VALUE SHRS OR SH/ PUT/ INVESTMENT OTHER VOTING AUTHORITY NAME OF ISSUER TITLE OF CLASS CUSIP (X$1000) PRN AMT PRN CALL DISCRETION MGRS SOLE SHARED NONE -------------- --------------- ----- -------- ------- --- ---- ---------- ---- ---- ------ ---- 3M CO COM 88579Y101 259 3,000 SH SOLE NONE 3,000 ALEXANDERS INC COM 014752109 544 1,320 SH SOLE NONE 1,320 AMERICA MOVIL SAB DE CV SPON ADR L SHS 02364W105 7,042 122,810 SH SOLE NONE 122,810 AMERICAN EXPRESS CO COM 025816109 258 6,000 SH SOLE NONE 6,000 ANADARKO PETE CORP COM 032511107 14,886 195,460 SH SOLE NONE 195,460 ANNALY CAP MGMT INC COM 035710409 233 13,000 SH SOLE NONE 13,000 ATLAS ENERGY INC COM 049298102 1,165 26,500 SH SOLE NONE 26,500 AU OPTRONICS CORP SPONSORED ADR 002255107 808 77,500 SH SOLE NONE 77,500 BALLY TECHNOLOGIES INC COM 05874B107 316 7,500 SH SOLE NONE 7,500 BANCO BRADESCO S A SP ADR PFD NEW 059460303 1,282 63,162 SH SOLE NONE 63,162 BANCO MACRO SA SPON ADR B 05961W105 3,514 70,000 SH SOLE NONE 70,000 BANCO SANTANDER BRASIL S A ADS REP 1 UNIT 05967A107 5,630 414,000 SH SOLE NONE 414,000 BANCOLOMBIA S A SPON ADR PREF 05968L102 353 5,700 SH SOLE NONE 5,700 BANK OF AMERICA CORPORATION COM 060505104 4,420 331,319 SH SOLE NONE 331,319 BBVA BANCO FRANCES S A SPONSORED ADR 07329M100 174 15,000 SH SOLE NONE 15,000 BE AEROSPACE INC COM 073302101 4,524 122,166 SH SOLE NONE 122,166 BELDEN INC COM 077454106 4,135 112,239 SH SOLE NONE 112,239 BOEING CO COM 097023105 1,119 17,150 SH SOLE NONE 17,150 BON-TON STORES INC COM 09776J101 4,373 345,507 SH SOLE NONE 345,507 BP PLC SPONSORED ADR 055622104 1,291 29,239 SH SOLE NONE 29,239 BRF-BRASIL FOODS S A SPONSORED ADR 10552T107 2,100 124,400 SH SOLE NONE 124,400 BROCADE COMMUNICATIONS SYS I COM NEW 111621306 709 134,000 SH SOLE NONE 134,000 BUNGE LIMITED COM G16962105 328 5,000 SH SOLE NONE 5,000 CELGENE CORP RIGHT 12/31/2011 151020112 444 90,675 SH SOLE NONE 90,675 CEMEX SAB DE CV SPON ADR NEW 151290889 5,659 528,388 SH SOLE NONE 528,388 CHINA MOBILE LIMITED SPONSORED ADR 16941M109 645 13,000 SH SOLE NONE 13,000 CHUNGHWA TELECOM CO LTD SPON ADR NEW10 17133Q106 4,751 188,023 SH SOLE NONE 188,023 CISCO SYS INC COM 17275R102 5,327 263,317 SH SOLE NONE 263,317 CITIGROUP INC COM 172967101 3,517 743,387 SH SOLE NONE 743,387 CLARUS CORP COM 182707109 791 100,000 SH SOLE NONE 100,000 CLIFFS NATURAL RESOURCES INC COM 18683K101 234 3,000 SH SOLE NONE 3,000 COMPANHIA DE BEBIDAS DAS AME SPON ADR PFD 20441W203 590 19,000 SH SOLE NONE 19,000 COMPANHIA ENERGETICA DE MINA SP ADR N-V PFD 204409601 1,928 116,225 SH SOLE NONE 116,225 COMPANHIA PARANAENSE ENERG C SPON ADR PFD 20441B407 252 10,000 SH SOLE NONE 10,000 COMPANHIA SIDERURGICA NACION SPONSORED ADR 20440W105 2,114 126,800 SH SOLE NONE 126,800 COPA HOLDINGS SA CL A P31076105 18,158 308,600 SH SOLE NONE 308,600 CORNING INC COM 219350105 653 33,800 SH SOLE NONE 33,800 COSAN LTD SHS A G25343107 6,275 460,750 SH SOLE NONE 460,750 COTT CORP QUE COM 22163N106 180 20,000 SH SOLE NONE 20,000 CPFL ENERGIA S A SPONSORED ADR 126153105 9,202 119,800 SH SOLE NONE 119,800 CREDICORP LTD COM G2519Y108 476 4,000 SH SOLE NONE 4,000 DELTA AIR LINES INC DEL COM NEW 247361702 3,644 289,194 SH SOLE NONE 289,194 DEPOMED INC COM 249908104 20,158 3,168,841 SH SOLE NONE 3,168,841 ECOPETROL S A SPONSORED ADS 279158109 3,245 74,400 SH SOLE NONE 74,400 F M C CORP COM NEW 302491303 240 3,000 SH SOLE NONE 3,000 FIBRIA CELULOSE S A SP ADR REP COM 31573A109 10,917 682,338 SH SOLE NONE 682,338 FIRST PACTRUST BANCORP INC COM 33589V101 390 29,400 SH SOLE NONE 29,400 FMC TECHNOLOGIES INC COM 30249U101 459 5,158 SH SOLE NONE 5,158 FREEPORT-MCMORAN COPPER & GO COM 35671D857 600 5,000 SH SOLE NONE 5,000 FRONTIER COMMUNICATIONS CORP COM 35906A108 248 25,500 SH SOLE NONE 25,500 GAFISA S A SPONS ADR 362607301 2,348 161,600 SH SOLE NONE 161,600 GENERAL ELECTRIC CO COM 369604103 754 41,228 SH SOLE NONE 41,228 GENON ENERGY INC COM 37244E107 41 10,815 SH SOLE NONE 10,815 GOL LINHAS AEREAS INTLG S A SP ADR REP PFD 38045R107 2,751 178,900 SH SOLE NONE 178,900 GRAFTECH INTL LTD COM 384313102 397 20,000 SH SOLE NONE 20,000 GRUPO TELEVISA SA DE CV SP ADR REP ORD 40049J206 201 7,750 SH SOLE NONE 7,750 HALLIBURTON CO COM 406216101 4,283 104,900 SH SOLE NONE 104,900 HDFC BANK LTD ADR REPS 3 SHS 40415F101 652 3,900 SH SOLE NONE 3,900 HEWLETT PACKARD CO COM 428236103 6,433 152,800 SH SOLE NONE 152,800 HOVNANIAN ENTERPRISES INC CL A 442487203 204 49,829 SH SOLE NONE 49,829 HUNTINGTON BANCSHARES INC COM 446150104 1,532 223,000 SH SOLE NONE 223,000 ICICI BK LTD ADR 45104G104 6,826 134,800 SH SOLE NONE 134,800 ILLINOIS TOOL WKS INC COM 452308109 227 4,250 SH SOLE NONE 4,250 INGERSOLL-RAND PLC SHS G47791101 4,269 90,640 SH SOLE NONE 90,640 ISHARES TR DJ HOME CONSTN 464288752 445 33,800 SH SOLE NONE 33,800 ITAU UNIBANCO HLDG SA SPON ADR REP PFD 465562106 17,497 728,734 SH SOLE NONE 728,734 IXYS CORP COM 46600W106 3,242 278,945 SH SOLE NONE 278,945 JABIL CIRCUIT INC COM 466313103 1,869 93,036 SH SOLE NONE 93,036 JDS UNIPHASE CORP COM PAR $0.001 46612J507 738 51,000 SH SOLE NONE 51,000 JETBLUE AIRWAYS CORP COM 477143101 106 16,000 SH SOLE NONE 16,000 JONES GROUP INC COM 48020T101 4,656 299,614 SH SOLE NONE 299,614 JPMORGAN CHASE & CO COM 46625H100 2,308 54,400 SH SOLE NONE 54,400 KB FINANCIAL GROUP INC SPONSORED ADR 48241A105 448 8,476 SH SOLE NONE 8,476 KEYCORP NEW COM 493267108 177 20,000 SH SOLE NONE 20,000 KIMCO RLTY CORP COM 49446R109 180 10,000 SH SOLE NONE 10,000 KT CORP SPONSORED ADR 48268K101 416 20,000 SH SOLE NONE 20,000 LENNAR CORP CL A 526057104 188 10,000 SH SOLE NONE 10,000 LG DISPLAY CO LTD SPONS ADR REP 50186V102 2,392 134,760 SH SOLE NONE 134,760 LSI CORPORATION COM 502161102 605 101,004 SH SOLE NONE 101,004 MACYS INC COM 55616P104 1,149 45,402 SH SOLE NONE 45,402 MANITOWOC INC COM 563571108 6,926 528,333 SH SOLE NONE 528,333 MANNKIND CORP NOTE 3.750%12/1 56400PAA0 2,925 4,500,000 SH SOLE NONE 4,500,000 MFA FINANCIAL INC COM 55272X102 1,081 132,500 SH SOLE NONE 132,500 MICROSOFT CORP COM 594918104 499 17,869 SH SOLE NONE 17,869 MORGAN STANLEY COM NEW 617446448 381 14,000 SH SOLE NONE 14,000 MUELLER WTR PRODS INC COM SER A 624758108 5,501 1,319,308 SH SOLE NONE 1,319,308 NORDSTROM INC COM 655664100 1,589 37,500 SH SOLE NONE 37,500 NXP SEMICONDUCTORS N V COM N6596X109 209 10,000 SH SOLE NONE 10,000 OCCIDENTAL PETE CORP DEL COM 674599105 795 8,100 SH SOLE NONE 8,100 ON SEMICONDUCTOR CORP COM 682189105 2,379 240,843 SH SOLE NONE 240,843 OPNEXT INC COM 68375V105 37 21,000 SH SOLE NONE 21,000 ORACLE CORP COM 68389X105 219 7,000 SH SOLE NONE 7,000 OWENS ILL INC COM NEW 690768403 3,549 115,600 SH SOLE NONE 115,600 P T TELEKOMUNIKASI INDONESIA SPONSORED ADR 715684106 1,438 40,340 SH SOLE NONE 40,340 PAMPA ENERGIA S A SPONS ADR LVL I 697660207 4,364 256,700 SH SOLE NONE 256,700 PETROHAWK ENERGY CORP COM 716495106 949 52,000 SH SOLE NONE 52,000 PETROLEO BRASILEIRO SA PETRO SP ADR NON VTG 71654V101 22,897 670,170 SH SOLE NONE 670,170 PHILIPPINE LONG DISTANCE TEL SPONSORED ADR 718252604 6,640 113,950 SH SOLE NONE 113,950 POWERSHARES ETF TRUST FINL PFD PTFL 73935X229 291 16,500 SH SOLE NONE 16,500 PULTE GROUP INC COM 745867101 601 79,931 SH SOLE NONE 79,931 QIMONDA FIN LLC NOTE 6.750% 3/2 74732WAA7 47 1,500,000 SH SOLE NONE 1,500,000 RAIT FINANCIAL TRUST COM 749227104 51 23,500 SH SOLE NONE 23,500 RANDGOLD RES LTD ADR 752344309 823 10,000 SH SOLE NONE 10,000 RANGE RES CORP COM 75281A109 886 19,700 SH SOLE NONE 19,700 RESOURCE CAP CORP COM 76120W302 1,770 239,885 SH SOLE NONE 239,885 RSC HOLDINGS INC COM 74972L102 3,270 335,688 SH SOLE NONE 335,688 SCHLUMBERGER LTD COM 806857108 735 8,800 SH SOLE NONE 8,800 SK TELECOM LTD SPONSORED ADR 78440P108 186 10,000 SH SOLE NONE 10,000 SYNOVUS FINL CORP COM 87161C105 261 98,778 SH SOLE NONE 98,778 TAIWAN SEMICONDUCTOR MFG LTD SPONSORED ADR 874039100 4,548 362,710 SH SOLE NONE 362,710 TALBOTS INC COM 874161102 2,185 256,400 SH SOLE NONE 256,400 TELECOM ARGENTINA S A SPON ADR REP B 879273209 7,666 308,000 SH SOLE NONE 308,000 TENET HEALTHCARE CORP COM 88033G100 4,868 727,665 SH SOLE NONE 727,665 TEREX CORP NEW COM 880779103 5,836 188,000 SH SOLE NONE 188,000 THAI FD INC COM 882904105 192 15,000 SH SOLE NONE 15,000 THOMAS & BETTS CORP COM 884315102 1,309 27,092 SH SOLE NONE 27,092 TURKCELL ILETISIM HIZMETLERI SPON ADR NEW 900111204 1,970 115,000 SH SOLE NONE 115,000 UNITED CONTL HLDGS INC COM 910047109 834 35,005 SH SOLE NONE 35,005 UNITED TECHNOLOGIES CORP COM 913017109 394 5,000 SH SOLE NONE 5,000 VALE S A ADR 91912E105 605 17,500 SH SOLE NONE 17,500 VALE S A ADR REPSTG PFD 91912E204 10,228 338,450 SH SOLE NONE 338,450 VIVO PARTICIPACOES S A SPON ADR PFD NEW 92855S200 1,581 48,500 SH SOLE NONE 48,500 VORNADO RLTY TR SH BEN INT 929042109 598 7,180 SH SOLE NONE 7,180 WEATHERFORD INTERNATIONAL LT REG H27013103 2,514 110,250 SH SOLE NONE 110,250 WELLS FARGO & CO NEW COM 949746101 1,535 49,540 SH SOLE NONE 49,540
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