-----BEGIN PRIVACY-ENHANCED MESSAGE-----
Proc-Type: 2001,MIC-CLEAR
Originator-Name: webmaster@www.sec.gov
Originator-Key-Asymmetric:
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 TWSM7vrzLADbmYQaionwg5sDW3P6oaM5D3tdezXMm7z1T+B+twIDAQAB
MIC-Info: RSA-MD5,RSA,
 TDSYIgnk69FICFOfkOcSUFqtjfEBL1Wzx7p58R+jkTNgoiwWBgymhXqV50rKVx1h
 gpL/u0U/MGxeFmT8+IIezw==

<SEC-DOCUMENT>0001399690-10-000003.txt : 20100601
<SEC-HEADER>0001399690-10-000003.hdr.sgml : 20100531
<ACCEPTANCE-DATETIME>20100601170121
ACCESSION NUMBER:		0001399690-10-000003
CONFORMED SUBMISSION TYPE:	D
PUBLIC DOCUMENT COUNT:		1
ITEM INFORMATION:		Rule 506
FILED AS OF DATE:		20100601
DATE AS OF CHANGE:		20100601
EFFECTIVENESS DATE:		20100601

FILER:

	COMPANY DATA:	
		COMPANY CONFORMED NAME:			Gam Portable Diversity/S&P 500 inc
		CENTRAL INDEX KEY:			0001399690
		IRS NUMBER:				000000000
		STATE OF INCORPORATION:			D8
		FISCAL YEAR END:			0506

	FILING VALUES:
		FORM TYPE:		D
		SEC ACT:		1933 Act
		SEC FILE NUMBER:	021-142802
		FILM NUMBER:		10870387

	BUSINESS ADDRESS:	
		STREET 1:		georges quay house
		STREET 2:		43 Townsend Street
		CITY:			Dublin 2 Ireland
		STATE:			l3
		ZIP:			0000
		BUSINESS PHONE:		353016093900

	MAIL ADDRESS:	
		STREET 1:		georges quay house
		STREET 2:		43 Townsend Street
		CITY:			Dublin 2 Ireland
		STATE:			l3
		ZIP:			0000
</SEC-HEADER>
<DOCUMENT>
<TYPE>D
<SEQUENCE>1
<FILENAME>primary_doc.xml
<TEXT>
<XML>
<?xml version="1.0"?>
<edgarSubmission>

    <schemaVersion>X0704</schemaVersion>

    <submissionType>D</submissionType>

    <testOrLive>LIVE</testOrLive>

    <primaryIssuer>
        <cik>0001399690</cik>
        <entityName>Gam Portable Diversity/S&amp;P 500 inc</entityName>
        <issuerAddress>
            <street1>Georges Quay House</street1>
            <street2>43 Townsend Street</street2>
            <city>Dublin 2 Ireland</city>
            <stateOrCountry>L3</stateOrCountry>
            <stateOrCountryDescription>ISRAEL</stateOrCountryDescription>
            <zipCode>0000</zipCode>
        </issuerAddress>
        <issuerPhoneNumber>353016093900</issuerPhoneNumber>
        <jurisdictionOfInc>VIRGIN ISLANDS, BRITISH</jurisdictionOfInc>
        <issuerPreviousNameList>
            <value>None</value>
        </issuerPreviousNameList>
        <edgarPreviousNameList>
            <value>None</value>
        </edgarPreviousNameList>
        <entityType>Other</entityType>
        <entityTypeOtherDesc>Incorporated in BVI</entityTypeOtherDesc>
        <yearOfInc>
            <withinFiveYears>true</withinFiveYears>
            <value>2006</value>
        </yearOfInc>
    </primaryIssuer>

    <relatedPersonsList>
        <relatedPersonInfo>
            <relatedPersonName>
                <firstName>Josef</firstName>
                <middleName>C</middleName>
                <lastName>Hendricks</lastName>
            </relatedPersonName>
            <relatedPersonAddress>
                <street1>4 Burnaby Street</street1>
                <city>Hamilton</city>
                <stateOrCountry>D0</stateOrCountry>
                <stateOrCountryDescription>BERMUDA</stateOrCountryDescription>
                <zipCode>0000</zipCode>
            </relatedPersonAddress>
            <relatedPersonRelationshipList>
                <relationship>Director</relationship>
            </relatedPersonRelationshipList>
            <relationshipClarification></relationshipClarification>
        </relatedPersonInfo>
        <relatedPersonInfo>
            <relatedPersonName>
                <firstName>Christopher</firstName>
                <middleName>W</middleName>
                <lastName>Sherwell</lastName>
            </relatedPersonName>
            <relatedPersonAddress>
                <street1>1 La Sapiniere, Belmont Road</street1>
                <city>St. Peter Port</city>
                <stateOrCountry>Y7</stateOrCountry>
                <stateOrCountryDescription>GUERNSEY</stateOrCountryDescription>
                <zipCode>GY11PX</zipCode>
            </relatedPersonAddress>
            <relatedPersonRelationshipList>
                <relationship>Director</relationship>
            </relatedPersonRelationshipList>
            <relationshipClarification></relationshipClarification>
        </relatedPersonInfo>
        <relatedPersonInfo>
            <relatedPersonName>
                <firstName>Maxwell</firstName>
                <middleName>L.</middleName>
                <lastName>Quin</lastName>
            </relatedPersonName>
            <relatedPersonAddress>
                <street1>52 Reid Street</street1>
                <city>Hamilton</city>
                <stateOrCountry>D0</stateOrCountry>
                <stateOrCountryDescription>BERMUDA</stateOrCountryDescription>
                <zipCode>0000</zipCode>
            </relatedPersonAddress>
            <relatedPersonRelationshipList>
                <relationship>Director</relationship>
            </relatedPersonRelationshipList>
            <relationshipClarification></relationshipClarification>
        </relatedPersonInfo>
        <relatedPersonInfo>
            <relatedPersonName>
                <firstName>Andrew</firstName>
                <lastName>Hanges</lastName>
            </relatedPersonName>
            <relatedPersonAddress>
                <street1>12 St. James Place</street1>
                <city>London</city>
                <stateOrCountry>X0</stateOrCountry>
                <stateOrCountryDescription>UNITED KINGDOM</stateOrCountryDescription>
                <zipCode>SW1A1NX</zipCode>
            </relatedPersonAddress>
            <relatedPersonRelationshipList>
                <relationship>Director</relationship>
            </relatedPersonRelationshipList>
            <relationshipClarification></relationshipClarification>
        </relatedPersonInfo>
        <relatedPersonInfo>
            <relatedPersonName>
                <firstName>N/A</firstName>
                <middleName>N/A</middleName>
                <lastName>GAM USA Inc.</lastName>
            </relatedPersonName>
            <relatedPersonAddress>
                <street1>One Rockefeller Plaza</street1>
                <street2>21st Floor</street2>
                <city>New York</city>
                <stateOrCountry>NY</stateOrCountry>
                <stateOrCountryDescription>NEW YORK</stateOrCountryDescription>
                <zipCode>10020</zipCode>
            </relatedPersonAddress>
            <relatedPersonRelationshipList>
                <relationship>Promoter</relationship>
            </relatedPersonRelationshipList>
            <relationshipClarification></relationshipClarification>
        </relatedPersonInfo>
    </relatedPersonsList>

    <offeringData>
        <industryGroup>
            <industryGroupType>Pooled Investment Fund</industryGroupType>
            <investmentFundInfo>
                <investmentFundType>Other Investment Fund</investmentFundType>
                <is40Act>false</is40Act>
            </investmentFundInfo>
        </industryGroup>
        <issuerSize>
            <aggregateNetAssetValueRange>Decline to Disclose</aggregateNetAssetValueRange>
        </issuerSize>
        <federalExemptionsExclusions>
            <item>06</item>
        </federalExemptionsExclusions>
        <typeOfFiling>
            <newOrAmendment>
                <isAmendment>false</isAmendment>
            </newOrAmendment>
            <dateOfFirstSale>
                <value>2007-06-01</value>
            </dateOfFirstSale>
        </typeOfFiling>
        <durationOfOffering>
            <moreThanOneYear>true</moreThanOneYear>
        </durationOfOffering>
        <typesOfSecuritiesOffered>
            <isEquityType>true</isEquityType>
        </typesOfSecuritiesOffered>
        <businessCombinationTransaction>
            <isBusinessCombinationTransaction>false</isBusinessCombinationTransaction>
            <clarificationOfResponse></clarificationOfResponse>
        </businessCombinationTransaction>
        <minimumInvestmentAccepted>3000000</minimumInvestmentAccepted>
        <salesCompensationList>
            <recipient>
                <recipientName>GAM Services, Inc.</recipientName>
                <recipientCRDNumber>25631</recipientCRDNumber>
                <associatedBDName>None</associatedBDName>
                <associatedBDCRDNumber>None</associatedBDCRDNumber>
                <recipientAddress>
                    <street1>One Rockefeller Plaza</street1>
                    <street2>Floor 21</street2>
                    <city>New York</city>
                    <stateOrCountry>NY</stateOrCountry>
                    <stateOrCountryDescription>NEW YORK</stateOrCountryDescription>
                    <zipCode>10020</zipCode>
                </recipientAddress>
                <statesOfSolicitationList>
                    <value>All States</value>
                </statesOfSolicitationList>
                <foreignSolicitation>false</foreignSolicitation>
            </recipient>
        </salesCompensationList>
        <offeringSalesAmounts>
            <totalOfferingAmount>Indefinite</totalOfferingAmount>
            <totalAmountSold>25000000</totalAmountSold>
            <totalRemaining>Indefinite</totalRemaining>
            <clarificationOfResponse></clarificationOfResponse>
        </offeringSalesAmounts>
        <investors>
            <hasNonAccreditedInvestors>false</hasNonAccreditedInvestors>
            <totalNumberAlreadyInvested>1</totalNumberAlreadyInvested>
        </investors>
        <salesCommissionsFindersFees>
            <salesCommissions>
                <dollarAmount>0</dollarAmount>
            </salesCommissions>
            <findersFees>
                <dollarAmount>0</dollarAmount>
            </findersFees>
            <clarificationOfResponse></clarificationOfResponse>
        </salesCommissionsFindersFees>
        <useOfProceeds>
            <grossProceedsUsed>
                <dollarAmount>0</dollarAmount>
            </grossProceedsUsed>
            <clarificationOfResponse></clarificationOfResponse>
        </useOfProceeds>
        <signatureBlock>
            <authorizedRepresentative>false</authorizedRepresentative>
            <signature>
                <issuerName>Gam Portable Diversity/S&amp;P 500 inc</issuerName>
                <signatureName>/s/ Michael Whooley</signatureName>
                <nameOfSigner>Michael Whooley</nameOfSigner>
                <signatureTitle>Compliance Officer</signatureTitle>
                <signatureDate>2010-06-01</signatureDate>
            </signature>
        </signatureBlock>
    </offeringData>
</edgarSubmission>
</XML>
</TEXT>
</DOCUMENT>
</SEC-DOCUMENT>
-----END PRIVACY-ENHANCED MESSAGE-----