13F-HR 1 cumberlandassociates13f.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 30, 2005 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: Cumberland Associates Address: 1114 Avenue Of the Americas New York, NY 10036 13 File Number: 28-1010 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 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: Gary Tynes Title: CFO Phone: Signature, Place and Date of Signing: Gary Tynes January 13, 2006 Report Type (Check only one.): [ X] 13F HOLDINGS REPORT. [ ] 13F NOTICE. [ ] 13F COMBINATION REPORT. I AM SIGNING THIS REPORT AS REQUIRED BY THE SECURITIES EXCHANGE ACT OF 1934 FORM 13F SUMMARY PAGE Report Summary: Number of Other Included Managers: 0 Form 13F Information Table Entry Total: 113 Form 13F Information Table Value Total: 1219856 List of Other Included Managers: No. 13F File Number Name 01 28-1010 CUMBERLAND ASSOCIATES2 02 FORM 13F INFORMATION TABLE VALUE SHARES/ SH/ PUT/ INVSTMT OTHER VOTING AUTHORITY NAME OF ISSUER TITLE OF CLASS CUSIP x($1000) PRN AMT PRN CALL DISCRETN MANAGERS SOLE SHARED NONE ------------------------------ ---------------- --------- -------- -------- --- ---- -------- --------- -------- -------- -------- D ADVANCED MED OPTICS COMMON STOCK 00763M108 25800 617222 SH SOLE 0102 493609 123613 0 D ADVO INC USD.01 COM COMMON STOCK 007585102 3009 106784 SH SOLE 0102 86253 20531 0 D ALLIANCE DATA COMMON STOCK 018581108 13383 375936 SH SOLE 0102 300315 75621 0 D AMERCO COM COMMON STOCK 023586100 265 3680 SH SOLE 0102 2984 696 0 D AMERICAN HOME MTG INVT CORP CO REITS/RICS 02660R107 1008 30939 SH SOLE 0102 24821 6118 0 D ARAMARK CORPORATION Cl B COMMON STOCK 038521100 11945 430000 SH SOLE 0102 339621 90379 0 D ARCH CAP GROUP LTD ORD COMMON STOCK G0450A105 12266 224035 SH SOLE 0102 177391 46644 0 D ARTHROCARE CORP COM COMMON STOCK 043136100 282 6685 SH SOLE 0102 5397 1288 0 D AVAYA COM STK COMMON STOCK 053499109 13315 1247903 SH SOLE 0102 983434 264469 0 D AXIS CAPITAL HLDGS COMMON STOCK G0692U109 5594 178832 SH SOLE 0102 141496 37336 0 D BANK OF AMERICA CORP COM STK COMMON STOCK 060505104 10550 228592 SH SOLE 0102 180483 48109 0 D BARNES & NOBLE INC COM COMMON STOCK 067774109 282 6617 SH SOLE 0102 5303 1314 0 D BEARINGPOINT INC COMMON STOCK 074002106 15552 1978622 SH SOLE 0102 1559325 419297 0 D BECKMAN COULTER INC COM COMMON STOCK 075811109 10654 187237 SH SOLE 0102 149414 37823 0 D BIOENVISION INC Com COMMON STOCK 09059N100 15487 2371618 SH SOLE 0102 1897573 474045 0 D BLOCKBUSTER INC CLASS A COM SK COMMON STOCK 093679108 7392 1971125 SH SOLE 0102 1552535 418590 0 D CADBURY SCHWEPPES PL C ADR 1:4 ADRS STOCKS 127209302 1915 50000 SH SOLE 0102 39403 10597 0 D CARDIOME PHARMA CORP COMMON STOCK 14159U202 1397 138341 SH SOLE 0102 109006 29335 0 D CENTEX CORP COM COMMON STOCK 152312104 2362 33038 SH SOLE 0102 26492 6546 0 D CENTRAL EUROPEAN MEDIA ENT-A COMMON STOCK G20045202 11337 195800 SH SOLE 0102 158888 36912 0 D CHORDIANT SFTWR COM STK COMMON STOCK 170404107 2620 1000000 SH SOLE 0102 787651 212349 0 D CISCO SYS INC COM COMMON STOCK 17275R102 486 28399 SH SOLE 0102 22375 6024 0 D CLEAN HBRS INC COM COMMON STOCK 184496107 1873 65000 SH SOLE 0102 51267 13733 0 D COINSTAR INC COM COMMON STOCK 19259P300 1147 50235 SH SOLE 0102 40596 9639 0 D COMCAST CORP CL A COMMON STOCK 20030N101 7856 303098 SH SOLE 0102 244464 58634 0 D DYNEGY INC CL-A COM STK COMMON STOCK 26816Q101 44729 9241543 SH SOLE 0102 7316978 1924565 0 D E TRADE FINANCIAL CORP COMMON STOCK 269246104 45058 2160000 SH SOLE 0102 1748707 411293 0 D EASTMAN KODAK CO COM USD2.5 OPTIONS - PUTS 99O908XT1 351 15000 SH PUT SOLE 0102 12000 3000 0 D ECC CAPITALCORP REIT COMMON STOCK 26826M108 1525 674600 SH SOLE 0102 531522 143078 0 D EFJ INC COMMON STOCK 26843B101 3045 300000 SH SOLE 0102 236380 63620 0 D EXTREME NETWORKS INC USD COM COMMON STOCK 30226D106 2324 489219 SH SOLE 0102 385325 103894 0 D FIRST MRBLHD CP COMMON STOCK 320771108 800 24347 SH SOLE 0102 19647 4700 0 D FOREST OIL CORP COMMON STOCK 346091705 204 4477 SH SOLE 0102 3616 861 0 D FOUNDRY NETWORKS INC COM COMMON STOCK 35063R100 9942 719898 SH SOLE 0102 580956 138942 0 D FRONTLINE LIMITED USD2.5 COMMON STOCK G3682E127 737 19438 SH SOLE 0102 15482 3956 0 D GENCORP INC USD SOM COMMON STOCK 368682100 24852 1400099 SH SOLE 0102 1127532 272567 0 D GENERAL GROWTH PPTYS INC REITS/RICS 370021107 256 5445 SH SOLE 0102 4416 1029 0 D GENITOPE CORP COMMON STOCK 37229P507 2389 300444 SH SOLE 0102 240073 60371 0 D GLATFELTER CO COM COMMON STOCK 377316104 27883 1965000 SH SOLE 0102 1570671 394329 0 D HANOVER COMPRESSOR CO COM COMMON STOCK 410768105 50091 3550000 SH SOLE 0102 2876246 673754 0 D HARMONIC INC COM STK COMMON STOCK 413160102 116 23997 SH SOLE 0102 18900 5097 0 D HARVEST NATURAL RESO URCES INC COMMON STOCK 41754V103 21312 2400000 SH SOLE 0102 1889906 510094 0 D HEWLETT PACKARD CO USD1 COM COMMON STOCK 428236103 14412 503391 SH SOLE 0102 396485 106906 0 D HUGHES SUPPLY INC COM COMMON STOCK 444482103 17511 488444 SH SOLE 0102 387966 100478 0 D IMPAC MORTGAGE HOLDINGS INC RE REITS/RICS 45254P102 8892 944900 SH SOLE 0102 757529 187371 0 D INTL BUSINESS MACHS CORP COM COMMON STOCK 459200101 36990 450000 SH SOLE 0102 354445 95555 0 D INTL COAL GRP COM COMMON STOCK 45928H106 22325 2350000 SH SOLE 0102 1847896 502104 0 D K V PHARMACEUTICAL CL A COMMON STOCK 482740206 3056 148340 SH SOLE 0102 120268 28072 0 D KKR FINANCIAL CORPCOM COMMON STOCK 482476306 13023 542854 SH SOLE 0102 429985 112869 0 D KNOLL INC COM COMMON STOCK 498904200 14798 864900 SH SOLE 0102 699719 165181 0 D KRISPY KREME COM STK OPTIONS - PUTS 99O90FN41 373 65000 SH PUT SOLE 0102 51400 13600 0 D LAIDLAW INTL COMMON STOCK 50730R102 18098 779098 SH SOLE 0102 628787 150311 0 D LEAPFROG ENTRPRS COMMON STOCK 52186N106 7455 639898 SH SOLE 0102 504270 135628 0 D LEXMARK INTL GROUP INC COM OPTIONS - PUTS 5297710MI 3138 70000 SH PUT SOLE 0102 55400 14600 0 D LIBERTY GLL COMMON STOCK 530555309 14051 662764 SH SOLE 0102 534979 127785 0 D LIBERTY GLOBAL INC COM SER A COMMON STOCK 530555101 13632 605846 SH SOLE 0102 489034 116812 0 D LIBERTY MEDIA CORP NEW COMMON STOCK 530718105 23090 2933975 SH SOLE 0102 2349770 584205 0 D LSI LOGIC CORP COM COMMON STOCK 502161102 152 18987 SH SOLE 0102 14958 4029 0 D MARSH & MCLENNAN COS INC COM COMMON STOCK 571748102 14292 450000 SH SOLE 0102 354445 95555 0 D MATRIX BANCORP INC COMMON STOCK 576819106 7524 400000 SH SOLE 0102 324280 75720 0 D MEMC ELECTR MATERIALS INC COM COMMON STOCK 552715104 8853 399337 SH SOLE 0102 340984 58353 0 D MENTOR GRAPHICS CORP COM COMMON STOCK 587200106 601 58076 SH SOLE 0102 46514 11562 0 D MERCURY INTERACTIVE CORP COMMON STOCK 589405109 19781 711805 SH SOLE 0102 560669 151136 0 D MIDWEST BANC HLDGS INC COM COMMON STOCK 598251106 541 24296 SH SOLE 0102 19360 4936 0 D MILESTONE SCIENTIFIC INC COM COMMON STOCK 59935P209 247 178000 SH SOLE 0102 178000 0 0 D MILLICOM INTL CELLULAR SA COMMON STOCK L6388F110 18998 707809 SH SOLE 0102 574462 133347 0 D MOHAWK INDS INC COM COMMON STOCK 608190104 44186 508000 SH SOLE 0102 407963 100037 0 D MORTGAGEIT HLDS REITS/RICS 61915Q108 18578 1360000 SH SOLE 0102 1071118 288882 0 D NCR CORPORATION COM COMMON STOCK 62886E108 15805 465681 SH SOLE 0102 375509 90172 0 D NCR CORPORATION COM OPTIONS - CALLS 62886E0DG 832 24500 SH CALL SOLE 0102 19900 4600 0 D NDS GROUP PLC SPONS ADR ADRS STOCKS 628891103 8529 207259 SH SOLE 0102 163446 43813 0 D NET 1 UEPS TECHS INC NEW COMMON STOCK 64107N206 14274 494775 SH SOLE 0102 390785 103990 0 D NEWS CORP CL A COM COMMON STOCK 65248E104 27505 1768833 SH SOLE 0102 1427570 341263 0 D NOKIA CORP ADR SHRS EACH ADRS STOCKS 654902204 11858 647992 SH SOLE 0102 510413 137579 0 D NORTEL NETWORKS CORP COM STK ( COMMON STOCK 656568102 274 89397 SH SOLE 0102 72148 17249 0 D NORTHSTAR RLTY FIN CORP COM COMMON STOCK 66704R100 12216 1198822 SH SOLE 0102 927498 271324 0 D NRG ENERGY INC COMMON STOCK 629377508 386 8195 SH SOLE 0102 6645 1550 0 D NTL INC COM COMMON STOCK 62940M104 17076 250820 SH SOLE 0102 202459 48361 0 D NVIDIA CORP COM STK COMMON STOCK 67066G104 25497 697412 SH SOLE 0102 562839 134573 0 D OUTBACK STEAKHOUSE INC COM COMMON STOCK 689899102 10735 258000 SH SOLE 0102 203301 54699 0 D PATRIOT CAPITAL FUNDING INC CO COMMON STOCK 70335Y104 7244 593773 SH SOLE 0102 474745 119028 0 D PLAINS EXPL PRD COMMON STOCK 726505100 47279 1190000 SH SOLE 0102 961398 228602 0 D POPULAR INC COM COMMON STOCK 733174106 236 11141 SH SOLE 0102 9033 2108 0 D PURECYCLE CORP COM COMMON STOCK 746228303 5373 713889 SH SOLE 0102 561610 152279 0 D QC HOLDING COMMON STOCK 74729T101 7833 679399 SH SOLE 0102 544311 135088 0 D QUANTA CAP HLDGS LTD COMMON STOCK G7313F106 4182 820000 SH SOLE 0102 645847 174153 0 D RENT-A-CENTER INC COM COMMON STOCK 76009N100 3772 200000 SH SOLE 0102 162146 37854 0 D REPUBLIC COMPANIES G ROUP COMMON STOCK 760349100 8108 523757 SH SOLE 0102 417184 106573 0 D RETAIL VENTURES INC COMMON STOCK 76128Y102 185 14840 SH SOLE 0102 12032 2808 0 D RUSS 2000 INDEX SMALL CAP ETF OPTIONS - PUTS 4642872MO 8340 125000 SH PUT SOLE 0102 98800 26200 0 D S & P DEPOSITORY RECEIPTS TR U OPTIONS - PUTS 78462F0MV 15564 125000 SH PUT SOLE 0102 98800 26200 0 D S1 CORPORATION COM STK COMMON STOCK 78463B101 15660 3600000 SH SOLE 0102 2835536 764464 0 D SILICON IMAGE COM STK COMMON STOCK 82705T102 659 72688 SH SOLE 0102 57243 15445 0 D SILICON STORAGE TECHNOLOGY INC COMMON STOCK 827057100 2667 526066 SH SOLE 0102 420193 105873 0 D SONY CORP AMERN SH NEWADR ADRS STOCKS 835699307 19156 469498 SH SOLE 0102 369797 99701 0 D SOVEREIGN BANCORP INC COMMON STOCK 845905108 16850 779348 SH SOLE 0102 614808 164540 0 D SUPERGEN UNC COM COMMON STOCK 868059106 556 110168 SH SOLE 0102 86774 23394 0 D SWIFT TRANSN CO INC COM COMMON STOCK 870756103 1015 50000 SH SOLE 0102 39380 10620 0 D SYMBOL TECHNOLOGIES INC COM COMMON STOCK 871508107 17689 1379773 SH SOLE 0102 1116374 263399 0 D TEEKAY SHIPPING CORP COM STK COMMON STOCK Y8564W103 1939 48589 SH SOLE 0102 38693 9896 0 D TELEWEST GLOBAL COMMON STOCK 87956T107 35436 1487662 SH SOLE 0102 1190830 296832 0 D TGC INDUSTRIES INC COM NEW COMMON STOCK 872417308 3532 519400 SH SOLE 0102 415416 103984 0 D TIBCO SOFTWARE INC USD COM COMMON STOCK 88632Q103 660 88330 SH SOLE 0102 69563 18767 0 D TOWER GROUP COMMON STOCK 891777104 10384 472430 SH SOLE 0102 379796 92634 0 D UAP HOLDING COMMON STOCK 903441103 27465 1345000 SH SOLE 0102 1084650 260350 0 D URBAN OUTFITTERS INC COM OPTIONS - CALLS 99O90RL62 1898 75000 SH CALL SOLE 0102 59300 15700 0 D VISHAY INTERTECHNLGY INC COMMON STOCK 928298108 18908 1374153 SH SOLE 0102 1109170 264983 0 D VIVENDI SPONSORED ADR ADRS STOCKS 92851S204 340 10813 SH SOLE 0102 8767 2046 0 D WACHOVIA CORP COM COMMON STOCK 929903102 1798 34015 SH SOLE 0102 27095 6920 0 D WAL MART STORES INC COMMON STOCK 931142103 279 5956 SH SOLE 0102 4830 1126 0 D WAL MART STORES INC OPTIONS - CALLS 9311420AW 7020 150000 SH CALL SOLE 0102 118400 31600 0 D WEATHERFORD INTL LTD BERMUDA COMMON STOCK G95089101 24616 680000 SH SOLE 0102 550251 129749 0 D WHITNEY HLDG CORP COM COMMON STOCK 966612103 238 8642 SH SOLE 0102 6978 1664 0 S REPORT SUMMARY 113 DATA RECORDS 1219856 0 OTHER MANAGERS ON WHOSE BEHALF REPORT IS FILED