13F-HR 1 d1124367_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 June 30, 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: Porter Orlin LLC Address: 666 Fifth Ave. 34th Floor New York, NY 10103 13F File Number: 028-11383 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: William C. Verdi Title: Chief Financial Officer Phone: 212-484-5000 Signature, Place and Date of Signing: /s/ William C. Verdi New York, NY August 17, 2010 ----------------------- --------------------------- ---------------------- [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).) Form 13F SUMMARY PAGE Report Summary: Number of Other Included Managers: 0 Form 13F Information Table Entry Total: 185 Form 13F Information Table Value Total: $1,221,667 (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 MNGRS SOLE SHARED NONE ACTIVIDENTITY CORP COM 00506P103 5,400 2,827,255 SH SOLE NONE 2,827,255 ADDUS HOMECARE CORP COM 006739106 748 125,172 SH SOLE NONE 125,172 AETNA INC NEW COM 00817Y108 317 12,000 SH SOLE NONE 12,000 ALCATEL-LUCENT SPONSORED ADR 013904305 234 92,000 SH SOLE NONE 92,000 ALLEGIANT TRAVEL CO COM 01748X102 1,925 451 PUT SOLE NONE 451 AMBAC FINL GROUP INC COM 023139108 92 137,400 SH SOLE NONE 137,400 AMDOCS LTD ORD G02602103 25,434 947,250 SH SOLE NONE 947,250 AMERICA MOVIL SAB DE CV SPON ADR L SHS 02364W105 585 12,319 SH SOLE NONE 12,319 AMERICAN COMMERCIAL LINES COM PAR $0.01 025195405 1,745 77,500 SH SOLE NONE 77,500 AMERICAN EAGLE OUTFITTERS NE COM 02553E106 682 58,000 SH SOLE NONE 58,000 AMERICAN INDEPENDENCE CORP COM NEW 026760405 2,101 411,903 SH SOLE NONE 411,903 AMERICAN INTL GROUP INC COM NEW 026874784 533 15,475 SH SOLE NONE 15,475 AMYLIN PHARMACEUTICALS INC COM 032346108 222 11,800 SH SOLE NONE 11,800 APOLLO GROUP INC CL A 037604105 769 18,100 SH SOLE NONE 18,100 APOLLO GROUP INC CL A 37604105 4,247 1,000 CALL SOLE NONE 1,000 APOLLO GROUP INC CL A 37604105 17,625 4,150 PUT SOLE NONE 4,150 ARCELORMITTAL SA LUXEMBOURG NY REGISTRY SH 03938L104 2,379 88,900 SH SOLE NONE 88,900 ARENA PHARMACEUTICALS INC COM 040047102 61 20,000 SH SOLE NONE 20,000 ARES CAP CORP COM 04010L103 492 39,291 SH SOLE NONE 39,291 ARYX THERAPEUTICS INC COM 043387109 42 100,000 SH SOLE NONE 100,000 ASPEN TECHNOLOGY INC COM 045327103 5,146 472,575 SH SOLE NONE 472,575 ASSURED GUARANTY LTD COM G0585R106 20,701 1,560,000 SH SOLE NONE 1,560,000 ASSURED GUARANTY LTD COM G0585R106 8,951 1,550 CALL SOLE NONE 1,550 ATHENAHEALTH INC COM 04685W103 1,832 70,100 SH SOLE NONE 70,100 BANCO BRADESCO S A SP ADR PFD NEW 059460303 815 51,382 SH SOLE NONE 51,382 BANCO LATINOAMERICANO DE COM SHS E P16994132 2,322 185,895 SH SOLE NONE 185,895 BANCO SANTANDER BRASIL S A ADS REP 1 UNIT 05967A107 1,167 1,130 CALL SOLE NONE 1,130 BANCO SANTANDER SA ADR 05964H105 2,417 230,200 SH SOLE NONE 230,200 BANK OF AMERICA CORPORATION COM 060505104 16,499 1,148,134 SH SOLE NONE 1,148,134 BARRICK GOLD CORP COM 067901108 16,711 368,000 SH SOLE NONE 368,000 BEACON FED BANCORP INC COM 073582108 642 72,100 SH SOLE NONE 72,100 BERKLEY W R CORP COM 084423102 9,041 341,700 SH SOLE NONE 341,700 BIOMARIN PHARMACEUTICAL INC NOTE 2.500% 3/2 09061GAC5 12,538 10,000,000 SH SOLE NONE 10,000,000 BIOMARIN PHARMACEUTICAL INC NOTE 1.875% 4/2 09061GAD3 8,530 8,000,000 SH SOLE NONE 8,000,000 BIOMARIN PHARMACEUTICAL INC COM 09061G101 30,423 1,604,600 SH SOLE NONE 1,604,600 BOB EVANS FARMS INC COM 096761101 1,723 70,000 SH SOLE NONE 70,000 BOEING CO COM 097023105 3,138 50,000 SH SOLE NONE 50,000 BOEING CO COM 97023105 6,275 1,000 CALL SOLE NONE 1,000 BP PLC SPONSORED ADR 55622104 1,560 540 CALL SOLE NONE 540 BUNGE LIMITED COM G16962105 639 13,000 SH SOLE NONE 13,000 BUNGE LIMITED COM G16962105 17,512 3,560 CALL SOLE NONE 3560 BUNGE LIMITED COM G16962105 13,626 2,770 PUT SOLE NONE 2,770 CADENCE DESIGN SYSTEM INC NOTE 1.500%12/1 127387AF5 8,700 10,000,000 SH SOLE NONE 10,000,000 CADENCE DESIGN SYSTEM INC NOTE 1.375%12/1 127387AD0 4,860 4,959,000 SH SOLE NONE 4,959,000 CADENCE DESIGN SYSTEM INC COM 127387108 3,457 597,000 SH SOLE NONE 597,000 CAMERON INTERNATIONAL CORP COM 13342B105 21,546 662,534 SH SOLE NONE 662,534 CAREER EDUCATION CORP COM 141665109 1,312 570 PUT SOLE NONE 570 CATERPILLAR INC DEL COM 149123101 3,610 60,100 SH SOLE NONE 60,100 CATHAY GENERAL BANCORP COM 149150104 598 57,900 SH SOLE NONE 57,900 CHESAPEAKE ENERGY CORP COM 165167107 5,028 2,400 PUT SOLE NONE 2,400 CHESAPEAKE LODGING TR SH BEN INT 165240102 14,080 890,000 SH SOLE NONE 890,000 CINEMARK HOLDINGS INC COM 17243V102 304 23,100 SH SOLE NONE 23,100 CIT GROUP INC COM NEW 125581801 7,131 210,601 SH SOLE NONE 210,601 CITIGROUP INC COM 172967101 428 113,900 SH SOLE NONE 113,900 CKX INC COM 12562M106 11,319 2,268,374 SH SOLE NONE 2,268,374 CLEARWATER PAPER CORP COM 18538R103 12,279 224,224 SH SOLE NONE 224,224 COMPUCREDIT HLDGS CORP COM 20478T107 960 242,300 SH SOLE NONE 242,300 COMVERSE TECHNOLOGY INC EQUITY 205862402 25,971 3,329,643 SH SOLE NONE 3,329,643 CORPORATE OFFICE PPTYS TR SH BEN INT 22002T108 291 7,700 SH SOLE NONE 7,700 COST PLUS INC CALIF COM 221485105 143 40,000 SH SOLE NONE 40,000 COSTAR GROUP INC COM 22160N109 4,074 1,050 PUT SOLE NONE 1,050 CPEX PHARMACEUTICALS INC COM 12620N104 4,654 175,604 SH SOLE NONE 175,604 CROWN HOLDINGS INC COM 228368106 50,831 2,030,000 SH SOLE NONE 2,030,000 CYTORI THERAPEUTICS INC COM 23283K105 70 20,000 SH SOLE NONE 20,000 DISH NETWORK CORP CL A 25470M109 12,614 695,000 SH SOLE NONE 695,000 DONNELLEY R R & SONS CO COM 257867101 3,507 214,260 SH SOLE NONE 214,260 ECHOSTAR CORP CL A 278768106 36,422 1,908,936 SH SOLE NONE 1,908,936 EMBRAER-EMPRESA BRASILEIRA D SP ADR COM SHS 29081M102 484 23,100 SH SOLE NONE 23,100 EPICOR SOFTWARE CORP COM 29426L108 80 10,000 SH SOLE NONE 10,000 ETFS GOLD TR SHS 26922Y105 3,793 30,600 SH SOLE NONE 30,600 EXCO RESOURCES INC COM 269279402 28,384 1,942,800 SH SOLE NONE 1,942,800 EXELIXIS INC COM 30161Q104 302 87,000 SH SOLE NONE 87,000 FEDERAL AGRIC MTG CORP CL C 313148306 2,671 190,400 SH SOLE NONE 190,400 FIRST MARBLEHEAD CORP COM 320771108 171 72,750 SH SOLE NONE 72,750 FIRST SOLAR INC COM 336433107 5,862 51,500 SH SOLE NONE 51,500 FIRST SOLAR INC COM 336433107 1,366 120 PUT SOLE NONE 120 GENERAL ELECTRIC CO COM 369604103 2,519 174,700 SH SOLE NONE 174,700 GENOPTIX INC COM 37243V100 602 35,000 SH SOLE NONE 35,000 GILEAD SCIENCES INC NOTE 0.625% 5/0 375558AH6 6,383 5,750,000 SH SOLE NONE 5,750,000 GILEAD SCIENCES INC COM 375558103 72,619 2,118,400 SH SOLE NONE 2,118,400 GILEAD SCIENCES INC COM 375558103 14,137 4,124 CALL SOLE NONE 4,124 GLADSTONE COML CORP COM 376536108 2,764 169,137 SH SOLE NONE 169,137 GLOBAL TECH ADVANCED INNOVAT SHS NEW G39320117 2,333 232,564 SH SOLE NONE 232,564 GOLDCORP INC NEW COM 380956409 4,056 92,500 SH SOLE NONE 92,500 GOLDMAN SACHS GROUP INC COM 38141G104 774 5,900 SH SOLE NONE 5,900 GOLDMAN SACHS GROUP INC COM 38141G104 1,444 110 PUT SOLE NONE 110 GOOGLE INC CL A 38259P508 2,670 6,000 SH SOLE NONE 6,000 GREATBATCH INC COM 39153L106 212 9,500 SH SOLE NONE 9,500 HANESBRANDS INC COM 410345102 1,203 500 PUT SOLE NONE 500 HARLEY DAVIDSON INC COM 412822108 8,092 3,640 CALL SOLE NONE 3,640 HEALTH NET INC COM 42222G108 7,750 318,000 SH SOLE NONE 318,000 HEARTLAND PMT SYS INC COM 42235N108 1,346 90,700 SH SOLE NONE 90,700 HSBC HLDGS PLC SPON ADR NEW 404280406 3,686 80,860 SH SOLE NONE 80,860 HUNTSMAN CORP COM 447011107 3,167 365,300 SH SOLE NONE 365,300 HUNTSMAN CORP COM 447011107 1,301 1,500 CALL SOLE NONE 1,500 ICICI BK LTD ADR 45104G104 15,837 438,200 SH SOLE NONE 438,200 INDIA FD INC COM 454089103 620 20,503 SH SOLE NONE 20,503 ISHARES TR MSCI EMKT EUR 464286566 3,359 900 CALL SOLE NONE 900 ISHARES TR INDEX FTSE XNHUA IDX 464287184 810 20,700 SH SOLE NONE 20,700 ISHARES TR INDEX BARCLYS 20+ YR 464287432 10,175 100,000 SH SOLE NONE 100,000 ITAU UNIBANCO HLDG SA SPON ADR REP PFD 465562106 2,244 124,619 SH SOLE NONE 124,619 JDA SOFTWARE GROUP INC COM 46612K108 18,331 834,000 SH SOLE NONE 834,000 JPMORGAN CHASE & CO COM 46625H100 11,471 313,343 SH SOLE NONE 313,343 KB HOME COM 48666K109 2,340 212,700 SH SOLE NONE 212,700 KEYCORP NEW COM 493267108 3,584 466,100 SH SOLE NONE 466,100 KIMCO REALTY CORP COM 49446R109 2,688 200,000 SH SOLE NONE 200,000 LAS VEGAS SANDS CORP COM 517834107 2,962 133,800 SH SOLE NONE 133,800 LIBERTY GLOBAL INC COM SER A 530555101 1,049 40,372 SH SOLE NONE 40,372 LIBERTY GLOBAL INC COM SER C 530555309 1,049 40,372 SH SOLE NONE 40,372 LIBERTY MEDIA CORP NEW INT COM SER A 53071M104 6,531 622,000 SH SOLE NONE 622,000 LIBERTY MEDIA CORP NEW LIB STAR COM A 53071M708 10,681 206,036 SH SOLE NONE 206,036 LODGENET INTERACTIVE CORP COM 540211109 680 183,200 SH SOLE NONE 183,200 MAGMA DESIGN AUTOMATION COM 559181102 284 100,000 SH SOLE NONE 100,000 MARKET VECTORS ETF TR JR GOLD MINERS E 57060U589 8,650 317,300 SH SOLE NONE 317,300 MARKET VECTORS ETF TR GOLD MINER ETF 57060U100 9,322 179,400 SH SOLE NONE 179,400 MARSHALL & ILSLEY CORP NEW COM 571837103 8,264 1,151,000 SH SOLE NONE 1,151,000 MARTIN MARIETTA MATLS INC COM 573284106 3,706 43,700 SH SOLE NONE 43,700 MASTERCARD INC CL A 57636Q104 8,777 43,989 SH SOLE NONE 43,989 MATRIXX INITIATIVES INC COM 57685L105 2,927 636,309 SH SOLE NONE 636,309 MBIA INC COM 55262C100 2,137 381,000 SH SOLE NONE 381,000 MCCLATCHY CO CL A 579489105 316 86,700 SH SOLE NONE 86,700 MCDERMOTT INTL INC COM 580037109 3,574 165,000 SH SOLE NONE 165,000 MDC PARTNERS INC CL A SUB VTG 552697104 10,797 1,010,941 SH SOLE NONE 1,010,941 MEDNAX INC COM 58502B106 859 15,438 SH SOLE NONE 15,438 MENTOR GRAPHICS CORP COM 587200106 89 10,000 SH SOLE NONE 10,000 MERCK & CO INC NEW COM 58933Y105 29,462 842,500 SH SOLE NONE 842,500 MICROSOFT CORP COM 594918104 28,693 1,247,000 SH SOLE NONE 1,247,000 MICROSOFT CORP COM 594918104 1,496 650 PUT SOLE NONE 650 MICROSTRATEGY INC CL A NEW 594972408 4,535 60,400 SH SOLE NONE 60,400 MONSANTO CO NEW COM 61166W101 5,343 115,600 SH SOLE NONE 115,600 MONSANTO CO NEW COM 61166W101 3,744 810 CALL SOLE NONE 810 MORGAN STANLEY INDIA INVS FD COM 61745C105 1,001 45,185 SH SOLE NONE 45,185 MOTOROLA INC COM 620076109 12,173 1,867,000 SH SOLE NONE 1,867,000 NORTHGATE MINERALS CORP COM 666416102 10,020 3,340,000 SH SOLE NONE 3,340,000 NOVATEL WIRELESS INC COM NEW 66987M604 86 15,000 SH SOLE NONE 15,000 OMNICOM GROUP INC COM 681919106 8,781 256,000 SH SOLE NONE 256,000 OREXIGEN THERAPEUTICS INC COM 686164104 42 10,000 SH SOLE NONE 10,000 ORIGIN AGRITECH LIMITED SHS G67828106 73 10,000 SH SOLE NONE 10,000 PANASONIC CORP ADR 69832A205 175 14,000 SH SOLE NONE 14,000 PENFORD CORP COM 707051108 6,601 1,018,746 SH SOLE NONE 1,018,746 PENN NATL GAMING INC COM 707569109 735 31,800 SH SOLE NONE 31,800 QUALCOMM INC COM 747525103 722 22,000 SH SOLE NONE 22,000 QUALCOMM INC COM 747525103 6,814 2,075 CALL SOLE NONE 2,075 QUALSTAR CORP COM 74758R109 1,928 1,030,951 SH SOLE NONE 1,030,951 RADNET INC COM 750491102 119 50,000 SH SOLE NONE 50,000 REGIONS FINANCIAL CORP NEW COM 7591EP100 297 45,200 SH SOLE NONE 45,200 ROCKWOOD HLDGS INC COM 774415103 8,686 382,825 SH SOLE NONE 382,825 RTI BIOLOGICS INC COM 74975N105 117 40,000 SH SOLE NONE 40,000 RYDER SYS INC COM 783549108 5,053 125,600 SH SOLE NONE 125,600 SANOFI AVENTIS SPONSORED ADR 80105N105 12,700 422,500 SH SOLE NONE 422,500 SATYAM COMPUTER SERVICES LTD ADR 804098101 1,245 242,200 SH SOLE NONE 242,200 SEACOR HOLDINGS INC COM 811904101 58,366 826,015 SH SOLE NONE 826,015 SEARS HLDGS CORP COM 812350106 2,392 37,000 SH SOLE NONE 37,000 SI FINL GROUP INC COM 78425W102 1,410 234,238 SH SOLE NONE 234,238 SL GREEN RLTY CORP COM 78440X101 2,207 40,100 SH SOLE NONE 40,100 SL GREEN RLTY CORP COM 78440X101 2,752 500 PUT SOLE NONE 500 SLM CORP COM 78442P106 7,146 687,771 SH SOLE NONE 687,771 SPDR GOLD TRUST GOLD SHS 78463V107 905 7,440 SH SOLE NONE 7,440 STANDARD PAC CORP NEW COM 85375C101 4,212 1,265,000 SH SOLE NONE 1,265,000 SUCAMPO PHARMACEUTICALS INC CL A 864909106 212 60,000 SH SOLE NONE 60,000 TERRITORIAL BANCORP INC COM 88145X108 734 38,731 SH SOLE NONE 38,731 TESSERA TECHNOLOGIES INC COM 88164L100 41,945 2,613,396 SH SOLE NONE 2,613,396 TESSERA TECHNOLOGIES INC COM 88164L101 3,371 2,100 CALL SOLE NONE 2,100 TEVA PHARMACEUTICAL INDS LTD ADR 881624209 260 5,000 SH SOLE NONE 5,000 TFS FINL CORP COM 87240R107 4,964 400,000 SH SOLE NONE 400,000 TOLL BROTHERS INC COM 889478103 3,076 188,000 SH SOLE NONE 188,000 TRANSOCEAN LTD REG SHS H8817H100 3,974 85,782 SH SOLE NONE 85,782 ULTICOM INC COM NEW 903844207 826 89,250 SH SOLE NONE 89,250 UNITED THERAPEUTICS CORP DEL NOTE 0.500%10/1 91307CAD4 664 500,000 SH SOLE NONE 500,000 UNITED THERAPEUTICS CORP DEL COM 91307C102 3,661 75,000 SH SOLE NONE 75,000 VERIFONE SYS INC COM 92342Y109 3,758 198,500 SH SOLE NONE 198,500 VERISIGN INC SDCV 3.250% 8/1 92343EAD4 33,668 37,254,000 SH SOLE NONE 37,254,000 VERISIGN INC COM 92343E102 17,581 662,200 SH SOLE NONE 662,200 VIACOM INC NEW CL B 92553P201 4,643 148,000 SH SOLE NONE 148,000 VICAL INC COM 925602104 62 20,000 SH SOLE NONE 20,000 VISA INC COM CL A 92826C839 7,662 108,300 SH SOLE NONE 108,300 VULCAN MATLS CO COM 929160109 1,179 26,900 SH SOLE NONE 26,900 WAL MART STORES INC COM 931142103 31,164 648,300 SH SOLE NONE 648,300 WARWICK VALLEY TEL CO COM 936750108 1,312 93,217 SH SOLE NONE 93,217 WELLPOINT INC COM 94973V107 245 5,000 SH SOLE NONE 5,000 WHIRLPOOL CORP COM 963320106 1,317 150 PUT SOLE NONE 150 XEROX CORP COM 984121103 3,771 469,000 SH SOLE NONE 469,000 YAHOO INC COM 984332106 138 10,000 SH SOLE NONE 10,000 YAMANA GOLD INC COM 98462Y100 4,188 406,600 SH SOLE NONE 406,600 ZIONS BANCORPORATION COM 989701107 947 43,900 SH SOLE NONE 43,900
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