13F-HR 1 cumberlandassociates1206.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 29, 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 February 7, 2007 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: 105 Form 13F Information Table Value Total: 1190371 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 1346 85000 SH SOLE 0102 69883 15117 0 D ADAPTEC INC COM STK COMMON STOCK 00651F108 303 65083 SH SOLE 0102 65083 0 0 D ADOBE SYS INC COM STK COMMON STOCK 00724F101 2056 50000 SH SOLE 0102 41105 8895 0 D ADOLOR CORP COM STK OPTIONS - CALLS 99O95SNF3 564 75000 SH CALL SOLE 0102 61300 13700 0 D ADVANCED MEDICAL OPT ICS INC C COMMON STOCK 00763M108 21397 607877 SH SOLE 0102 496906 110971 0 D ALLSTATE CORP COM STK COMMON STOCK 020002101 12293 188802 SH SOLE 0102 151659 37143 0 D ALTRA HOLDINGS COMMON STOCK 02208R106 5723 407300 SH SOLE 0102 347413 59887 0 D AMERICAN HOME MORTGA GE INVEST REITS/RICS 02660R107 3159 89952 SH SOLE 0102 72521 17431 0 D AMERISAFE INC COM STK COMMON STOCK 03071H100 6230 403000 SH SOLE 0102 328870 74130 0 D AMTRUST FINL SVCS IN C COM STK COMMON STOCK 032359309 22200 2596500 SH SOLE 0102 2126716 469784 0 D ARCH CAPITAL GROUP L TD BERMU COMMON STOCK G0450A105 2514 37187 SH SOLE 0102 29792 7395 0 D ARMOR HLDGS INC COM STK COMMON STOCK 042260109 10833 197500 SH SOLE 0102 165726 31774 0 D AVAYA INC COM STK COMMON STOCK 053499109 18655 1334413 SH SOLE 0102 1094978 239435 0 D AXIS CAPITAL HLDGS COMMON STOCK G0692U109 2950 88414 SH SOLE 0102 71876 16538 0 D Ameristar Casinos In c COM STK COMMON STOCK 03070Q101 1537 50000 SH SOLE 0102 41115 8885 0 D BANK OF AMERICA CORP COM STK COMMON STOCK 060505104 14868 278481 SH SOLE 0102 226433 52048 0 D BEARINGPOINT INC COM STK COMMON STOCK 074002106 15836 2012172 SH SOLE 0102 1648303 363869 0 D BECKMAN COULTER INC COM STK COMMON STOCK 075811109 12464 208425 SH SOLE 0102 170803 37622 0 D BIOENVISION INC COM STK COMMON STOCK 09059N100 10301 2220068 SH SOLE 0102 1822648 397420 0 D BLOCKBUSTER INC CL A COM STK COMMON STOCK 093679108 11602 2193136 SH SOLE 0102 1797104 396032 0 D BORGWARNER INC COM STK COMMON STOCK 099724106 590 10000 SH SOLE 0102 8163 1837 0 D BROADCOM CORP CL A COM STK COMMON STOCK 111320107 1147 35500 SH SOLE 0102 35500 0 0 D BUSINESS OBJECTS SA LEVALLOIS ADRS STOCKS 12328X107 11462 290553 SH SOLE 0102 238018 52535 0 D CENTEX CORP COM STK COMMON STOCK 152312104 15640 277954 SH SOLE 0102 227546 50408 0 D CENTRAL EUROPEAN MED IA ENTERP COMMON STOCK G20045202 6899 98555 SH SOLE 0102 80733 17822 0 D CHAMPION ENTERPRISES INC COM COMMON STOCK 158496109 10508 1122600 SH SOLE 0102 916494 206106 0 D CHORDIANT SFTWR COM STK COMMON STOCK 170404107 10956 3309837 SH SOLE 0102 2721822 588015 0 D CLAIRE'S STORES INC COM STK COMMON STOCK 179584107 2486 75000 SH SOLE 0102 61675 13325 0 D CLEAN HBRS INC COM STK COMMON STOCK 184496107 3127 64587 SH SOLE 0102 51336 13251 0 D CONSOL ENERGY INC COM STK COMMON STOCK 20854P109 7551 235000 SH SOLE 0102 195070 39930 0 D COUNTRYWIDE FINANCIA L CORP CO COMMON STOCK 222372104 13160 310000 SH SOLE 0102 254533 55467 0 D CREE INC COM STK COMMON STOCK 225447101 433 25000 SH SOLE 0102 25000 0 0 D CSK AUTO CORP COM STK COMMON STOCK 125965103 858 50000 SH SOLE 0102 40654 9346 0 D DEARBORN BANCORP COM STK COMMON STOCK 24242R108 3990 209996 SH SOLE 0102 171321 38675 0 D DISCOVERY LABORATORI ES INC NE COMMON STOCK 254668106 1251 530000 SH SOLE 0102 435846 94154 0 D DYNEGY INC CL A COM STK COMMON STOCK 26816Q101 52206 7210808 SH SOLE 0102 5924890 1285918 0 D E TRADE FINL CORP COM STK COMMON STOCK 269246104 22756 1015000 SH SOLE 0102 831840 183160 0 D EFJ INC COM STK COMMON STOCK 26843B101 7877 1167000 SH SOLE 0102 959218 207782 0 D ELECTRONIC ARTS INC COM STK COMMON STOCK 285512109 1178 23400 SH SOLE 0102 23400 0 0 D ETHAN ALLEN INTERIOR S INC COM COMMON STOCK 297602104 542 15000 SH SOLE 0102 12331 2669 0 D EXTREME NETWORKS INC COM STK COMMON STOCK 30226D106 210 50000 SH SOLE 0102 50000 0 0 D FOUNDRY NETWORKS INC COM STK COMMON STOCK 35063R100 34794 2322676 SH SOLE 0102 1924892 397784 0 D FURNITURE BRANDS INT L INC COM COMMON STOCK 360921100 406 25000 SH SOLE 0102 20561 4439 0 D GARMIN LTD COM STK OPTIONS - PUTS 99O95NBL4 3607 64800 SH PUT SOLE 0102 53200 11600 0 D GENESIS MICROCHIP IN C DE COM COMMON STOCK 37184C103 811 80000 SH SOLE 0102 80000 0 0 D GLATFELTER COM STK COMMON STOCK 377316104 27900 1800000 SH SOLE 0102 1496517 303483 0 D HANOVER COMPRESSOR C O COM STK COMMON STOCK 410768105 38984 2063759 SH SOLE 0102 1710154 353605 0 D HARMONIC INC COM STK COMMON STOCK 413160102 400 55018 SH SOLE 0102 54460 558 0 D HARVEST NATURAL RESO URCES INC COMMON STOCK 41754V103 34648 3259500 SH SOLE 0102 2713426 546074 0 D HEWLETT-PACKARD CO COM STK COMMON STOCK 428236103 36690 890759 SH SOLE 0102 729733 161026 0 D HOME DEPOT INC COM STK COMMON STOCK 437076102 10040 250000 SH SOLE 0102 204618 45382 0 D HORIZON OFFSHORE INC COM STK COMMON STOCK 44043J204 16708 1025000 SH SOLE 0102 858218 166782 0 D HUNT J B TRANS SVCS INC COM ST COMMON STOCK 445658107 1558 75000 SH SOLE 0102 61657 13343 0 D I2 TECHNOLOGIES INC COM STK COMMON STOCK 465754208 10038 439859 SH SOLE 0102 361797 78062 0 D IMPAC MORTGAGE HOLDI NGS INC C REITS/RICS 45254P102 8360 950000 SH SOLE 0102 781263 168737 0 D INPHONIC INC COM COMMON STOCK 45772G105 18727 1688622 SH SOLE 0102 1383698 304924 0 D INTERNATIONAL COAL G ROUP INC COMMON STOCK 45928H106 16350 3000000 SH SOLE 0102 2435292 564708 0 D ISIS PHARMACEUTICALS CALIF CO COMMON STOCK 464330109 29809 2680681 SH SOLE 0102 2187129 493552 0 D KODIAK OIL & GAS CO COMMON STOCK 50015Q100 2548 649500 SH SOLE 0102 534228 115272 0 D KOPPERS HLDGS INC COM STK COMMON STOCK 50060P106 24639 945100 SH SOLE 0102 782330 162770 0 D KRISPY KREME DOUGHNU TS INC CO COMMON STOCK 501014104 23603 2126409 SH SOLE 0102 1748634 377775 0 D LEAPFROG ENTERPRISES INC CL A COMMON STOCK 52186N106 1228 129514 SH SOLE 0102 118600 10914 0 D LIBERTY GLOBAL INC CL-A COM ST COMMON STOCK 530555101 28060 962620 SH SOLE 0102 788642 173978 0 D LIBERTY GLOBAL INC SR-C COM ST COMMON STOCK 530555309 17992 642566 SH SOLE 0102 526400 116166 0 D LIBERTY MEDIA HLDG C ORP COM S COMMON STOCK 53071M104 28759 1333274 SH SOLE 0102 1092314 240960 0 D LIBERTY MEDIA HLDG C ORP COM S COMMON STOCK 53071M302 20014 204266 SH SOLE 0102 167349 36917 0 D LOWES COS INC COM STK COMMON STOCK 548661107 4673 150000 SH SOLE 0102 123317 26683 0 D MARVEL ENTMT INC COM STK COMMON STOCK 57383T103 471 17500 SH SOLE 0102 17500 0 0 D MASTEC INC COM STK COMMON STOCK 576323109 10963 950000 SH SOLE 0102 774990 175010 0 D MEMC ELECTRONIC MATE RIALS INC COMMON STOCK 552715104 233 5957 SH SOLE 0102 5649 308 0 D MENTOR GRAPHICS CORP COM STK COMMON STOCK 587200106 259 14339 SH SOLE 0102 13401 938 0 D ML BIOTECH HLDG US ETFS OPTIONS - CALLS 99O95L055 6246 34000 SH CALL SOLE 0102 27500 6500 0 D MULTI-FINELINE ELECT RONIX INC COMMON STOCK 62541B101 304 15000 SH SOLE 0102 15000 0 0 D NDS GROUP PLC ADR ADRS STOCKS 628891103 5270 109221 SH SOLE 0102 89791 19430 0 D NET 1 UEPS TECHNOLOG IES INC C COMMON STOCK 64107N206 20817 704228 SH SOLE 0102 576926 127302 0 D NEWS CORP CL A COM STK COMMON STOCK 65248E104 13320 620114 SH SOLE 0102 508058 112056 0 D NOKIA CORP ADR ADRS STOCKS 654902204 30150 1483738 SH SOLE 0102 1215648 268090 0 D NORTEL NETWORKS CORP COMMON STOCK 656568508 24067 900386 SH SOLE 0102 741441 158945 0 D NTL INC NEW COM COMMON STOCK 62941W101 19187 760178 SH SOLE 0102 622923 137255 0 D NVIDIA CORP COM STK COMMON STOCK 67066G104 591 15967 SH SOLE 0102 15464 503 0 D OMNIVISION TECHNOLOG IES INC C COMMON STOCK 682128103 1144 83800 SH SOLE 0102 83800 0 0 D PENN VA CORP COM STK COMMON STOCK 707882106 18322 261600 SH SOLE 0102 217009 44591 0 D PETROHAWK ENERGY COR P COM STK COMMON STOCK 716495106 22253 1935000 SH SOLE 0102 1590612 344388 0 D PLAINS EXPLORATION & PRODUCTI COMMON STOCK 726505100 31004 652300 SH SOLE 0102 539452 112848 0 D POLARIS INDS INC COM STK COMMON STOCK 731068102 1171 25000 SH SOLE 0102 20400 4600 0 D PURE CYCLE CORP COM STK COMMON STOCK 746228303 6132 744165 SH SOLE 0102 610457 133708 0 D QC HOLDING COMMON STOCK 74729T101 16758 1050000 SH SOLE 0102 863270 186730 0 D S1 CORP COM STK COMMON STOCK 78463B101 13009 2360938 SH SOLE 0102 1945455 415483 0 D SILICON IMAGE INC COM STK COMMON STOCK 82705T102 1633 128400 SH SOLE 0102 128400 0 0 D SILICON STORAGE TECH NOLOGY IN COMMON STOCK 827057100 9143 2027295 SH SOLE 0102 1662781 364514 0 D SONY CORP AMERN SH NEWADR ADRS STOCKS 835699307 37425 873808 SH SOLE 0102 722772 151036 0 D SOUTHWEST AIRLINES C O COM STK COMMON STOCK 844741108 460 30000 SH SOLE 0102 30000 0 0 D TAKE-TWO INTERACTIVE SOFTWARE COMMON STOCK 874054109 1954 110000 SH SOLE 0102 110000 0 0 D TECHNICAL OLYMPIC US A INC COM COMMON STOCK 878483106 1017 100000 SH SOLE 0102 82205 17795 0 D TELIK INC COM STK OPTIONS - CALLS 99O95TPR3 830 187300 SH CALL SOLE 0102 151800 35500 0 D THE RYLAND GROUP INC COM STK COMMON STOCK 783764103 6008 110000 SH SOLE 0102 90133 19867 0 D TOLL BROTHERS INC COM STK COMMON STOCK 889478103 8380 260000 SH SOLE 0102 213489 46511 0 D TRANSDIGM GROUP INC COM STK COMMON STOCK 893641100 2893 109124 SH SOLE 0102 89046 20078 0 D UNITED RENTALS INC COM STK COMMON STOCK 911363109 22124 870000 SH SOLE 0102 715301 154699 0 D US BIOENERGY CORP COM STK COMMON STOCK 90342V109 5525 325000 SH SOLE 0102 267201 57799 0 D UTILITIES SELECT SEC TOR SPDR US ETF'S - US TR 81369Y886 1102 30000 SH SOLE 0102 24404 5596 0 D VIASYS HEALTHCARE IN C COM STK COMMON STOCK 92553Q209 30112 1082397 SH SOLE 0102 883729 198668 0 D VISHAY INTERTECHNLGY INC COMMON STOCK 928298108 15997 1181430 SH SOLE 0102 976081 205349 0 D WEBMETHODS INC COM STK COMMON STOCK 94768C108 6012 816790 SH SOLE 0102 669022 147768 0 D YAHOO INC COM STK COMMON STOCK 984332106 5081 198930 SH SOLE 0102 162964 35966 0 S REPORT SUMMARY 105 DATA RECORDS 1190371 0 OTHER MANAGERS ON WHOSE BEHALF REPORT IS FILED