13F-HR 1 cumberlandassociates0606.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, 2006 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 July 24, 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: 103 Form 13F Information Table Value Total: 1077113 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 ACORDA THERAPEUTICS INC COM ST COMMON STOCK 00484M106 5362 1285966 SH SOLE 0102 1053121 232845 0 D ADAPTEC INC COM STK COMMON STOCK 00651F108 786 181200 SH SOLE 0102 181200 0 0 D ADVANCED MEDICAL OPT ICS INC C COMMON STOCK 00763M108 2924 57677 SH SOLE 0102 49314 8363 0 D AGERE SYS INC CLASS A SHS NEW COMMON STOCK 00845V308 221 15040 SH SOLE 0102 13687 1353 0 D ALCON INC COMMON STOCK H01301102 22617 229498 SH SOLE 0102 185282 44216 0 D ALLSTATE CORP COM STK COMMON STOCK 020002101 1631 29802 SH SOLE 0102 23876 5926 0 D AMERICAN HOME MORTGA GE INVEST REITS/RICS 02660R107 2763 74952 SH SOLE 0102 60094 14858 0 D ARCH CAPITAL GROUP L TD BERMU COMMON STOCK G0450A105 2211 37187 SH SOLE 0102 29792 7395 0 D AVAYA INC COM STK COMMON STOCK 053499109 14534 1272721 SH SOLE 0102 1028821 243900 0 D AXIS CAPITAL HLDGS COMMON STOCK G0692U109 2530 88414 SH SOLE 0102 71876 16538 0 D BANK OF AMERICA CORP COM STK COMMON STOCK 060505104 10707 222591 SH SOLE 0102 180280 42311 0 D BEARINGPOINT INC COM STK COMMON STOCK 074002106 15688 1874294 SH SOLE 0102 1523645 350649 0 D BEAZER HOMES USA INC COM STK COMMON STOCK 07556Q105 1605 35000 SH SOLE 0102 28191 6809 0 D BECKMAN COULTER INC COM STK COMMON STOCK 075811109 4856 87425 SH SOLE 0102 72236 15189 0 D BIOENVISION INC COM STK COMMON STOCK 09059N100 12493 2343844 SH SOLE 0102 1901686 442158 0 D BIOMIMETIC THERAPEUT ICS INC COMMON STOCK 09064X101 1585 238996 SH SOLE 0102 204866 34130 0 D BLOCKBUSTER INC CL A COM STK COMMON STOCK 093679108 9113 1829880 SH SOLE 0102 1487510 342370 0 D BURLINGTON NORTHERN SANTA FE C COMMON STOCK 12189T104 9906 125000 SH SOLE 0102 100679 24321 0 D CENTEX CORP COM STK COMMON STOCK 152312104 2261 44954 SH SOLE 0102 35683 9271 0 D CENTRAL EUROPEAN MED IA ENTERP COMMON STOCK G20045202 6274 99283 SH SOLE 0102 80701 18582 0 D CHORDIANT SFTWR COM STK COMMON STOCK 170404107 5624 1856249 SH SOLE 0102 1509022 347227 0 D CISCO SYSTEMS INC COM STK COMMON STOCK 17275R102 14542 744612 SH SOLE 0102 605016 139596 0 D CLEAN HBRS INC COM STK COMMON STOCK 184496107 2604 64587 SH SOLE 0102 51336 13251 0 D COPA HOLDINGS SA COM STK COMMON STOCK P31076105 11212 495000 SH SOLE 0102 407037 87963 0 D CPI INTERNATIONAL IN C COM STK COMMON STOCK 12618M100 7395 510000 SH SOLE 0102 421833 88167 0 D CSX CORP COM COMMON STOCK 126408103 5283 75000 SH SOLE 0102 60408 14592 0 D CYBEX INTERNATIONAL INC COM ST COMMON STOCK 23252E106 240 37000 SH SOLE 0102 37000 0 0 D DYNEGY INC CL A COM STK COMMON STOCK 26816Q101 46992 8590898 SH SOLE 0102 6951484 1639414 0 D E TRADE FINL CORP COM STK COMMON STOCK 269246104 22820 1000000 SH SOLE 0102 805431 194569 0 D EFJ INC COM STK COMMON STOCK 26843B101 6020 1001700 SH SOLE 0102 832814 168886 0 D ELECTRONIC ARTS INC COM STK COMMON STOCK 285512109 5501 127816 SH SOLE 0102 108900 18916 0 D FOUNDRY NETWORKS INC COM STK COMMON STOCK 35063R100 18499 1735319 SH SOLE 0102 1428517 306802 0 D GENITOPE CORP COMMON STOCK 37229P507 442 70000 SH SOLE 0102 56365 13635 0 D GENITOPE CORP OPTIONS - CALLS 99O925HS5 2487 393500 SH CALL SOLE 0102 318200 75300 0 D GLATFELTER COM STK COMMON STOCK 377316104 27085 1706700 SH SOLE 0102 1393398 313302 0 D GLOBALSANTAFE CORP COMMON STOCK G3930E101 433 7500 SH SOLE 0102 7500 0 0 D HANOVER COMPRESSOR C O COM STK COMMON STOCK 410768105 48828 2600000 SH SOLE 0102 2114379 485621 0 D HARMONIC INC COM STK COMMON STOCK 413160102 560 125018 SH SOLE 0102 121034 3984 0 D HARVEST NATURAL RESO URCES INC COMMON STOCK 41754V103 35136 2595000 SH SOLE 0102 2113094 481906 0 D HILTON HOTELS CORP COM STK COMMON STOCK 432848109 1414 50000 SH SOLE 0102 42115 7885 0 D IMCLONE SYS INC COM STK OPTIONS - PUTS 99O941ZR4 5796 150000 SH PUT SOLE 0102 120900 29100 0 D IMPAC MORTGAGE HOLDI NGS INC C REITS/RICS 45254P102 10901 975000 SH SOLE 0102 792544 182456 0 D INPHONIC INC COM COMMON STOCK 45772G105 13925 2210364 SH SOLE 0102 1796521 413843 0 D INTERNATIONAL COAL G ROUP INC COMMON STOCK 45928H106 28760 4000000 SH SOLE 0102 3242174 757826 0 D INTL BUSINESS MACHS CORP COM COMMON STOCK 459200101 22015 286576 SH SOLE 0102 232658 53918 0 D ISIS PHARMACEUTICALS CALIF CO COMMON STOCK 464330109 12116 2002681 SH SOLE 0102 1624517 378164 0 D KKR FINANCIAL CORP COM STK COMMON STOCK 482476306 1810 86985 SH SOLE 0102 69684 17301 0 D KNOLL INC COM STK COMMON STOCK 498904200 6793 370000 SH SOLE 0102 300686 69314 0 D KOPPERS HLDGS INC COM STK COMMON STOCK 50060P106 14393 720000 SH SOLE 0102 601968 118032 0 D LEAPFROG ENTERPRISES INC CL A COMMON STOCK 52186N106 1126 111511 SH SOLE 0102 100597 10914 0 D LIBERTY GLOBAL INC COM STK COMMON STOCK 530555101 21557 1002672 SH SOLE 0102 814700 187972 0 D LIBERTY GLOBAL INC COM STK COMMON STOCK 530555309 13319 647515 SH SOLE 0102 526196 121319 0 D LIBERTY MEDIA HLDG C ORP COM S COMMON STOCK 53071M104 14303 828687 SH SOLE 0102 673499 155188 0 D LIBERTY MEDIA HLDG C ORP COM S COMMON STOCK 53071M302 20508 244819 SH SOLE 0102 200322 44497 0 D MARVEL ENTMT INC COM STK COMMON STOCK 57383T103 230 11500 SH SOLE 0102 11500 0 0 D MATRIX BANCORP INC COM STK COMMON STOCK 576819106 5967 255000 SH SOLE 0102 207279 47721 0 D MEMC ELECTRONIC MATE RIALS INC COMMON STOCK 552715104 628 16757 SH SOLE 0102 16449 308 0 D MENTOR GRAPHICS CORP COM STK COMMON STOCK 587200106 9503 732115 SH SOLE 0102 594958 137157 0 D MICROSOFT CORP COM STK COMMON STOCK 594918104 23041 988904 SH SOLE 0102 803801 185103 0 D ML BIOTECH HLDG US ETFS OPTIONS - CALLS 99O95L055 35049 198600 SH CALL SOLE 0102 161500 37100 0 D ML BIOTECH HLDG US ETFS OPTIONS - CALLS 99O960J68 35049 198600 SH CALL SOLE 0102 161500 37100 0 D MORTGAGEIT HLDS REITS/RICS 61915Q108 12060 1000000 SH SOLE 0102 805430 194570 0 D NABORS INDUSTRIES LT D COM STK COMMON STOCK G6359F103 21964 650000 SH SOLE 0102 523528 126472 0 D NDS GROUP PLC ADR ADRS STOCKS 628891103 5359 115116 SH SOLE 0102 93592 21524 0 D NET 1 UEPS TECHNOLOG IES INC C COMMON STOCK 64107N206 12894 471443 SH SOLE 0102 383156 88287 0 D NEUROCRINE BIOSCIENC ES INC CO OPTIONS - PUTS 99O96L153 2631 248200 SH PUT SOLE 0102 201900 46300 0 D NEUROCRINE BIOSCIENC ES INC CO OPTIONS - PUTS 99O96L195 2631 248200 SH PUT SOLE 0102 201900 46300 0 D NEWS CORP CL A COM STK COMMON STOCK 65248E104 22631 1179948 SH SOLE 0102 958945 221003 0 D NOKIA CORP ADR ADRS STOCKS 654902204 19931 983769 SH SOLE 0102 799657 184112 0 D NORFOLK SOUTHN CORP COM STK COMMON STOCK 655844108 2661 50000 SH SOLE 0102 40323 9677 0 D NORTEL NETWORKS CORP COM STK ( COMMON STOCK 656568102 104 46543 SH SOLE 0102 37622 8921 0 D NTL INC NEW COM COMMON STOCK 62941W101 27214 1092933 SH SOLE 0102 888484 204449 0 D NVIDIA CORP COM STK COMMON STOCK 67066G104 915 42967 SH SOLE 0102 42464 503 0 D PENN VA CORP COM STK COMMON STOCK 707882106 27952 400000 SH SOLE 0102 328800 71200 0 D PETROHAWK ENERGY COR P COM STK COMMON STOCK 716495106 11970 950000 SH SOLE 0102 772007 177993 0 D PHARMION CORP COM STK COMMON STOCK 71715B409 845 49640 SH SOLE 0102 40332 9308 0 D PLAINS EXPLORATION & PRODUCTI COMMON STOCK 726505100 45202 1115000 SH SOLE 0102 900974 214026 0 D PURE CYCLE CORP COM STK COMMON STOCK 746228303 8033 750000 SH SOLE 0102 609702 140298 0 D QC HOLDING COMMON STOCK 74729T101 9758 722300 SH SOLE 0102 586367 135933 0 D QUANTA CAP HLDGS LTD COMMON STOCK G7313F106 2098 809927 SH SOLE 0102 649532 160395 0 D REPUBLIC COMPANIES G ROUP INC COMMON STOCK 760349100 7373 416307 SH SOLE 0102 337442 78865 0 D S1 CORP COM STK COMMON STOCK 78463B101 16584 3455000 SH SOLE 0102 2807408 647592 0 D SCHEIN HENRY INC COM STK COMMON STOCK 806407102 631 13500 SH SOLE 0102 13500 0 0 D SILICON IMAGE INC COM STK COMMON STOCK 82705T102 145 13438 SH SOLE 0102 12488 950 0 D SILICON STORAGE TECH NOLOGY IN COMMON STOCK 827057100 12108 3026917 SH SOLE 0102 2463414 563503 0 D SONY CORP AMERN SH NEWADR ADRS STOCKS 835699307 12127 275374 SH SOLE 0102 226352 49022 0 D SPRINT NEXTEL CORP COMMON STOCK 852061100 22706 1135843 SH SOLE 0102 923328 212515 0 D STARWOOD HOTELS COM STK COMMON STOCK 85590A401 1509 25000 SH SOLE 0102 20137 4863 0 D SUN MICROSYSTEMS INC COM STK COMMON STOCK 866810104 623 150000 SH SOLE 0102 150000 0 0 D SUNPOWER CORP COM STK COMMON STOCK 867652109 556 19856 SH SOLE 0102 16131 3725 0 D TELIK INC COM STK OPTIONS - CALLS 99O95TPR3 3090 187300 SH CALL SOLE 0102 151800 35500 0 D TELIK INC COM STK OPTIONS - PUTS 99O95TQ35 5008 303500 SH PUT SOLE 0102 245600 57900 0 D THQ INC COM STK COMMON STOCK 872443403 4320 200000 SH SOLE 0102 161088 38912 0 D THRESHOLD PHARMACEUTICALSCOM COMMON STOCK 885807107 1303 372258 SH SOLE 0102 302659 69599 0 D TIBCO SOFTWARE INC COM STK COMMON STOCK 88632Q103 191 27118 SH SOLE 0102 22216 4902 0 D TOWER GROUP INC COM STK COMMON STOCK 891777104 6583 217624 SH SOLE 0102 175371 42253 0 D TRANSDIGM GROUP INC COM STK COMMON STOCK 893641100 887 37024 SH SOLE 0102 30052 6972 0 D UAP HLDG CORP COM STK COMMON STOCK 903441103 7743 355000 SH SOLE 0102 291767 63233 0 D VIASYS HEALTHCARE IN C COM STK COMMON STOCK 92553Q209 13120 512497 SH SOLE 0102 423072 89425 0 D VISHAY INTERTECHNLGY INC COMMON STOCK 928298108 15250 969458 SH SOLE 0102 782033 187425 0 D WACHOVIA CORP COM STK COMMON STOCK 929903102 2368 43783 SH SOLE 0102 34753 9030 0 D WARRIOR ENERGY SERVI CES CORP COMMON STOCK 936258102 9065 372588 SH SOLE 0102 302851 69737 0 D WASTE MGMT INC DEL COM STK COMMON STOCK 94106L109 6997 195000 SH SOLE 0102 157762 37238 0 S REPORT SUMMARY 103 DATA RECORDS 1077113 0 OTHER MANAGERS ON WHOSE BEHALF REPORT IS FILED