13F-HR 1 cumberlandassociates0907.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: September 28, 2007 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 October 17, 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: 75 Form 13F Information Table Value Total: 1191834 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 ADVANCE AUTO PTS INC COM STK COMMON STOCK 00751Y106 28839 859328 SH SOLE 0102 717858 141470 0 D ADVANCED MEDICAL OPT ICS INC C COMMON STOCK 00763M108 43820 1432498 SH SOLE 0102 1197010 235488 0 D ALLSTATE CORP COM STK COMMON STOCK 020002101 2785 48691 SH SOLE 0102 40672 8019 0 D ALPHA NATURAL RESOUR CES INC COMMON STOCK 02076X102 813 35000 SH SOLE 0102 29246 5754 0 D AMER EXPRESS CO COM COMMON STOCK 025816109 3374 56830 SH SOLE 0102 47482 9348 0 D AMERICAN AXLE & MFG HLDGS INC COMMON STOCK 024061103 1894 75000 SH SOLE 0102 62668 12332 0 D AMTRUST FINL SVCS IN C COM STK COMMON STOCK 032359309 19020 1253777 SH SOLE 0102 1048734 205043 0 D ANGIODYNAMICS COMMON STOCK 03475V101 4107 217887 SH SOLE 0102 182070 35817 0 D ARCH CAPITAL GROUP L TD BERMU COMMON STOCK G0450A105 3489 46891 SH SOLE 0102 39178 7713 0 D AT&T INC COM COMMON STOCK 00206R102 10578 250000 SH SOLE 0102 208904 41096 0 D BANK OF AMERICA CORP COM STK COMMON STOCK 060505104 14584 290112 SH SOLE 0102 242416 47696 0 D BEARINGPOINT INC COM STK COMMON STOCK 074002106 12751 3148291 SH SOLE 0102 2630746 517545 0 D BECKMAN COULTER INC COM STK COMMON STOCK 075811109 1475 20000 SH SOLE 0102 16711 3289 0 D BOOTS & COOTS INTL W ELL CTL COMMON STOCK 099469504 3902 2807509 SH SOLE 0102 2354276 453233 0 D BOYD GAMING CORP COM STK COMMON STOCK 103304101 1071 25000 SH SOLE 0102 20885 4115 0 D BROCADE COMMUNICATIO NS SYSTEM COMMON STOCK 111621306 12650 1477806 SH SOLE 0102 1234860 242946 0 D BWAY HOLDING COMPANY COMMON STOCK 12429T104 19734 1769831 SH SOLE 0102 1478794 291037 0 D CAPSTONE TURBINE COR P COM STK COMMON STOCK 14067D102 6398 5331446 SH SOLE 0102 4454736 876710 0 D CASTLEPOINT HOLDINGS LTD COM COMMON STOCK G19522112 6287 546685 SH SOLE 0102 459097 87588 0 D CDC CORP CLASS A COM COMMON STOCK G2022L106 9765 1332156 SH SOLE 0102 1113179 218977 0 D CENTRAL EUROPEAN MED IA ENTERP COMMON STOCK G20045202 8176 89146 SH SOLE 0102 74499 14647 0 D CHORDIANT SFTWR COM STK COMMON STOCK 170404305 1409 101661 SH SOLE 0102 88545 13116 0 D CISCO SYSTEMS INC COM STK COMMON STOCK 17275R102 19509 588860 SH SOLE 0102 492054 96806 0 D CIT GROUP INC NEW COM STK COMMON STOCK 125581108 7327 182263 SH SOLE 0102 152300 29963 0 D COUNTRYWIDE FINANCIA L CORP CO COMMON STOCK 222372104 14882 782859 SH SOLE 0102 654167 128692 0 D CSK AUTO CORP COM STK COMMON STOCK 125965103 27023 2537379 SH SOLE 0102 2120007 417372 0 D CUTERA INC COM STK COMMON STOCK 232109108 20852 795557 SH SOLE 0102 664779 130778 0 D DEARBORN BANCORP COM STK COMMON STOCK 24242R108 1398 108272 SH SOLE 0102 91215 17057 0 D DICK'S SPORTING GOODS COM COMMON STOCK 253393102 1007 15000 SH SOLE 0102 12609 2391 0 D DISCOVERY LABORATORI ES INC NE COMMON STOCK 254668106 673 250028 SH SOLE 0102 208929 41099 0 D DYNEGY INC DEL CL A COM STK COMMON STOCK 26817G102 34763 3762196 SH SOLE 0102 3153131 609065 0 D E TRADE FINL CORP COM STK COMMON STOCK 269246104 44190 3386213 SH SOLE 0102 2829603 556610 0 D EMPLOYERS HLDGS INC COM STK COMMON STOCK 292218104 3022 146620 SH SOLE 0102 122485 24135 0 D EXTERRAN HOLDINGS IN C COMMON STOCK 30225X103 29446 366523 SH SOLE 0102 306273 60250 0 D FEDERAL NATL MTG ASS N MEDIUM COMMON STOCK 313586109 15017 246944 SH SOLE 0102 206353 40591 0 D GLOBAL CROSSING LTD COM STK COMMON STOCK G3921A175 3818 181097 SH SOLE 0102 151284 29813 0 D HARVEST NATURAL RESO URCES INC COMMON STOCK 41754V103 41738 3495622 SH SOLE 0102 2920963 574659 0 D I2 TECHNOLOGIES INC COM STK COMMON STOCK 465754208 11870 778362 SH SOLE 0102 650225 128137 0 D IMPAC MORTGAGE HOLDI NGS INC C REITS/RICS 45254P102 9813 6372296 SH SOLE 0102 5334436 1037860 0 D INPHONIC INC COM COMMON STOCK 45772G105 7496 2706028 SH SOLE 0102 2261002 445026 0 D INTEL CORP COM STK COMMON STOCK 458140100 30834 1192326 SH SOLE 0102 996632 195694 0 D ISHARES RUSSELL 2000 OPTIONS - PUTS 99O9M9V18 48024 600000 SH PUT SOLE 0102 502200 97800 0 D ISHARES RUSSELL 2000 OPTIONS - PUTS 99O9M9VJ9 100050 1250000 SH PUT SOLE 0102 1044500 205500 0 D ISIS PHARMACEUTICALS CALIF CO COMMON STOCK 464330109 37492 2504489 SH SOLE 0102 2105101 399388 0 D KOPPERS HLDGS INC COM STK COMMON STOCK 50060P106 32342 837652 SH SOLE 0102 699943 137709 0 D LIBERTY GLOBAL INC CL-A COM ST COMMON STOCK 530555101 5711 139235 SH SOLE 0102 116318 22917 0 D LIBERTY GLOBAL INC SR-C COM ST COMMON STOCK 530555309 23548 609097 SH SOLE 0102 509163 99934 0 D LIBERTY MEDIA HLDG C ORP COM S COMMON STOCK 53071M302 45676 365904 SH SOLE 0102 305749 60155 0 D LOWES COS INC COM STK COMMON STOCK 548661107 1401 50000 SH SOLE 0102 41779 8221 0 D MEADOWBROOK INSURANC E GROUP I COMMON STOCK 58319P108 2634 292347 SH SOLE 0102 244367 47980 0 D NET 1 UEPS TECHNOLOG IES INC C COMMON STOCK 64107N206 23493 864662 SH SOLE 0102 722523 142139 0 D NOKIA CORP ADR ADRS STOCKS 654902204 18273 481751 SH SOLE 0102 402513 79238 0 D NORTHWESTERN COMMON STOCK 668074305 3815 140395 SH SOLE 0102 117393 23002 0 D PHH CORP COM STK COMMON STOCK 693320202 526 20000 SH SOLE 0102 16712 3288 0 D PLAINS EXPLORATION & PRODUCTI COMMON STOCK 726505100 57323 1296310 SH SOLE 0102 1089575 206735 0 D POLARIS INDS INC COM STK COMMON STOCK 731068102 545 12500 SH SOLE 0102 10507 1993 0 D PURE CYCLE CORP COM STK COMMON STOCK 746228303 308 35000 SH SOLE 0102 32497 2503 0 D QC HOLDING COMMON STOCK 74729T101 7165 495874 SH SOLE 0102 416799 79075 0 D QUALCOMM INC COM STK COMMON STOCK 747525103 22187 525000 SH SOLE 0102 438702 86298 0 D RAM ENE RES COMMON STOCK 75130P109 12229 2531892 SH SOLE 0102 2121429 410463 0 D RED ROBIN GOURMET BU RGERS INC COMMON STOCK 75689M101 4290 100000 SH SOLE 0102 83558 16442 0 D RESPIRONICS INC COM STK COMMON STOCK 761230101 9946 207079 SH SOLE 0102 173035 34044 0 D SEAGATE TECHNOLOGY COM STK COMMON STOCK G7945J104 26433 1033336 SH SOLE 0102 863393 169943 0 D SUPERIOR OFFSHORE IN TERNATION COMMON STOCK 86825Q104 12308 1094042 SH SOLE 0102 914177 179865 0 D SYMANTEC CORP COM STK COMMON STOCK 871503108 30364 1566751 SH SOLE 0102 1309196 257555 0 D T-3 ENERGY SERVICES INC COMMON STOCK 87306E107 2371 55601 SH SOLE 0102 46460 9141 0 D TAKE-TWO INTERACTIVE SOFTWARE COMMON STOCK 874054109 14404 843347 SH SOLE 0102 704709 138638 0 D TETRA TECHNOLOGIES I NC DEL CO COMMON STOCK 88162F105 4968 235006 SH SOLE 0102 197528 37478 0 D THE RYLAND GROUP INC COM STK COMMON STOCK 783764103 17677 824885 SH SOLE 0102 689281 135604 0 D TITAN INTL INC ILL COM STK COMMON STOCK 88830M102 15243 477540 SH SOLE 0102 401149 76391 0 D TOLL BROTHERS INC COM STK COMMON STOCK 889478103 9864 493459 SH SOLE 0102 412340 81119 0 D UNION PACIFIC CORP COM STK COMMON STOCK 907818108 3957 35000 SH SOLE 0102 29246 5754 0 D VIRGIN MEDIA INC COM STK COMMON STOCK 92769L101 13960 575176 SH SOLE 0102 480810 94366 0 D VISHAY INTERTECHNLGY INC COMMON STOCK 928298108 28287 2170945 SH SOLE 0102 1814088 356857 0 D YAHOO INC COM STK COMMON STOCK 984332106 13421 500000 SH SOLE 0102 417807 82193 0 S REPORT SUMMARY 75 DATA RECORDS 1191834 0 OTHER MANAGERS ON WHOSE BEHALF REPORT IS FILED