13F-HR 1 cumberlandassociates1209.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 31, 2009 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 22, 2010 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: 66 Form 13F Information Table Value Total: 422545 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 AMERICAN EAGLE OUTFI TTERS INC COMMON STOCK 02553E106 1274 75000 SH SOLE 0102 70429 4571 0 D AMKOR TECHNOLOGY INC COM STK COMMON STOCK 031652100 9845 1375000 SH SOLE 0102 1281853 93147 0 D AMTRUST FINL SVCS IN C COM STK COMMON STOCK 032359309 1020 86300 SH SOLE 0102 80325 5975 0 D ARKANSAS BEST CORP DELAWARE CO COMMON STOCK 040790107 441 15000 SH SOLE 0102 13993 1007 0 D ARKANSAS BEST CORP DELAWARE CO OPTIONS - CALLS 99OC3LJN1 6857 233000 SH CALL SOLE 0102 217900 15100 0 D BERRY PETE CO CL A COM STK COMMON STOCK 085789105 1020 35000 SH SOLE 0102 32647 2353 0 D BPZ RESOURCES INC COMMON STOCK 055639108 194 20400 SH SOLE 0102 19017 1383 0 D BROCADE COMMUNICATIO NS SYSTEM COMMON STOCK 111621306 11738 1538410 SH SOLE 0102 1444598 93812 0 D Bank of America Corp PRS EQUITY UNITS 060505419 1561 104600 SH SOLE 0102 97465 7135 0 D CARDIONET INC COMMON STOCK 14159L103 8882 1495319 SH SOLE 0102 1385652 109667 0 D CHESAPEAKE ENERGY CO RP COM ST COMMON STOCK 165167107 9446 365000 SH SOLE 0102 339119 25881 0 D CHORDIANT SFTWR COM STK COMMON STOCK 170404305 6019 2180946 SH SOLE 0102 2026557 154389 0 D COMSTOCK RES INC COM STK COMMON STOCK 205768203 1623 40000 SH SOLE 0102 37291 2709 0 D CON-WAY INC COM STK OPTIONS - CALLS 99OC3FFM0 10473 300000 SH CALL SOLE 0102 278900 21100 0 D CON-WAY INC COM STK OPTIONS - CALLS 99OC96YC5 3491 100000 SH CALL SOLE 0102 93100 6900 0 D COSTCO WHSL CORP NEW COM STK COMMON STOCK 22160K105 5917 100000 SH SOLE 0102 93276 6724 0 D COWEN GROUP INC COM STK COMMON STOCK 223622101 4766 805000 SH SOLE 0102 751137 53863 0 D DRESS BARN INC COM STK COMMON STOCK 261570105 1732 75000 SH SOLE 0102 69886 5114 0 D E TRADE FINL CORP COM STK COMMON STOCK 269246104 4708 2675000 SH SOLE 0102 2503660 171340 0 D E*TRADE FINL Exch - A SR UNS C CONVRT BONDS 269246AZ7 11915 7000000 SH SOLE 0102 6565000 435000 0 D ENERGYSOLUTIONS INC COM STK COMMON STOCK 292756202 1146 135000 SH SOLE 0102 125703 9297 0 D EXTERRAN HOLDINGS IN C COMMON STOCK 30225X103 10296 480000 SH SOLE 0102 447265 32735 0 D FBR CAPITAL MARKETS CORP COM S COMMON STOCK 30247C301 6613 1070000 SH SOLE 0102 1004800 65200 0 D FX ENERGY INC COM STK COMMON STOCK 302695101 121 42500 SH SOLE 0102 39533 2967 0 D GAMESTOP CORP NEW CL A COM STK COMMON STOCK 36467W109 18101 825000 SH SOLE 0102 757922 67078 0 D GEOPETRO COMPANY COM STK COMMON STOCK 37248H304 219 300000 SH SOLE 0102 279678 20322 0 D GEORESOURCES INC COM STK COMMON STOCK 372476101 1639 120000 SH SOLE 0102 111870 8130 0 D GLOBAL CASH ACCESS HLDGS INC C COMMON STOCK 378967103 75 10000 SH SOLE 0102 9289 711 0 D HARVEST NATURAL RESO URCES INC COMMON STOCK 41754V103 9146 1728894 SH SOLE 0102 1616386 112508 0 D HOME DEPOT INC COM STK COMMON STOCK 437076102 18081 625000 SH SOLE 0102 586914 38086 0 D HUB GROUP INC CL A COM STK COMMON STOCK 443320106 1206 45000 SH SOLE 0102 41866 3134 0 D HUTCHINSON TECH SUB DEB CONV 3 CONVRT BONDS 448407AF3 14858 18400000 SH SOLE 0102 17276000 1124000 0 D INTEL CORP COM STK COMMON STOCK 458140100 9180 450000 SH SOLE 0102 419854 30146 0 D INTERNATIONAL GAME TECHNOLOGY COMMON STOCK 459902102 751 40000 SH SOLE 0102 37558 2442 0 D ISIS PHARMACEUTICALS CALIF CO COMMON STOCK 464330109 1500 135000 SH SOLE 0102 125793 9207 0 D KOPPERS HLDGS INC COM STK COMMON STOCK 50060P106 2015 66207 SH SOLE 0102 61676 4531 0 D LANDSTAR SYSTEMS INC COM STK COMMON STOCK 515098101 8127 209612 SH SOLE 0102 195500 14112 0 D LIBERTY MEDIA CORP CAP SER A COMMON STOCK 53071M302 18689 782618 SH SOLE 0102 734930 47688 0 D LIBERTY MEDIA-STARZ SER A COMMON STOCK 53071M708 7545 163495 SH SOLE 0102 153531 9964 0 D LOWES COS INC COM STK COMMON STOCK 548661107 5848 250000 SH SOLE 0102 232497 17503 0 D MAIDEN HLDGS LTD COMMON STOCK G5753U112 10760 1470000 SH SOLE 0102 1378531 91469 0 D MIDCAP SPDR TRUST SE RIES 1 OPTIONS - PUTS 99OCDQ942 48968 371700 SH PUT SOLE 0102 346800 24900 0 D MOTOROLA INC COM STK COMMON STOCK 620076109 3492 450000 SH SOLE 0102 419739 30261 0 D NORDSTROM INC COM COMMON STOCK 655664100 940 25000 SH SOLE 0102 23279 1721 0 D NORFOLK SOUTHN CORP COM STK COMMON STOCK 655844108 5242 100000 SH SOLE 0102 93300 6700 0 D OCCIDENTAL PETE CORP COMMON STOCK 674599105 11389 140000 SH SOLE 0102 130223 9777 0 D OCCIDENTAL PETE CORP OPTIONS - PUTS 99OC1CHV7 2034 25000 SH PUT SOLE 0102 23500 1500 0 D OLD DOMINION FREIGHT LINE INC OPTIONS - CALLS 99OC69N75 307 10000 SH CALL SOLE 0102 9400 600 0 D OLD DOMINION FREIGHT LINE INC OPTIONS - CALLS 99OC69N83 1535 50000 SH CALL SOLE 0102 46700 3300 0 D ON SEMICONDUCTOR COR P / SEMI COMMON STOCK 682189105 10143 1150000 SH SOLE 0102 1068799 81201 0 D ORACLE CORP COM STK COMMON STOCK 68389X105 7359 300000 SH SOLE 0102 278728 21272 0 D PENNYMAC MORTGAGE IN VESTMENT REITS/RICS 70931T103 11052 643304 SH SOLE 0102 602817 40487 0 D PLAINS EXPLORATION & PRODUCTI COMMON STOCK 726505100 11756 425000 SH SOLE 0102 397559 27441 0 D RELIANCE STEEL & ALUMINUM CO COMMON STOCK 759509102 7218 167000 SH SOLE 0102 156452 10548 0 D SCS TRANSN INC COM STK COMMON STOCK 78709Y105 296 20000 SH SOLE 0102 18661 1339 0 D SEALY CORP COM STK COMMON STOCK 812139301 395 125000 SH SOLE 0102 117368 7632 0 D SONIC AUTOMOTIVE INC CL A COM COMMON STOCK 83545G102 1039 100000 SH SOLE 0102 93891 6109 0 D SPREADTRUM COMMUNICA TION SPO ADRS STOCKS 849415203 1638 300000 SH SOLE 0102 281709 18291 0 D TAKE-TWO INTERACTIVE SOFTWARE COMMON STOCK 874054109 7538 750000 SH SOLE 0102 696815 53185 0 D TITAN INTL INC COM STK COMMON STOCK 88830M102 1176 145000 SH SOLE 0102 135313 9687 0 D TRANSATLANTIC PETE C ORP COM S COMMON STOCK G89982105 9312 2722900 SH SOLE 0102 2544681 178219 0 D TRICO MARINE SER B SR UNS GLOB CONVRT BONDS 896106AQ4 4688 7500000 SH SOLE 0102 7043000 457000 0 D TRIQUINT SEMICONDUCT OR INC CO COMMON STOCK 89674K103 7200 1200000 SH SOLE 0102 1126860 73140 0 D UNITED WESTERN BANCORP COM ST COMMON STOCK 913201109 1642 595100 SH SOLE 0102 552744 42356 0 D VIACOM INC CL B COM STK COMMON STOCK 92553P201 14122 475000 SH SOLE 0102 441295 33705 0 D WHIRLPOOL CORP COMMON STOCK 963320106 3226 40000 SH SOLE 0102 37309 2691 0 S REPORT SUMMARY 66 DATA RECORDS 422545 0 OTHER MANAGERS ON WHOSE BEHALF REPORT IS FILED