13F-HR 1 cumberlandassociates0310.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: March 31, 2010 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 April 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: 46 Form 13F Information Table Value Total: 312867 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 AMKOR TECHNOLOGY INC COM STK COMMON STOCK 031652100 10620 1500000 SH SOLE 0102 1396665 103335 0 D AMTRUST FINL SVCS IN C COM STK COMMON STOCK 032359309 1255 90000 SH SOLE 0102 83778 6222 0 D APPLE INC COM STK COMMON STOCK 037833100 4700 20000 SH SOLE 0102 18616 1384 0 D BERRY PETE CO CL A COM STK COMMON STOCK 085789105 10701 380000 SH SOLE 0102 353824 26176 0 D BROCADE COMMUNICATIO NS SYSTEM COMMON STOCK 111621306 5139 900000 SH SOLE 0102 837932 62068 0 D BROCADE COMMUNICATIO NS SYSTEM OPTIONS - CALLS 99OC5L603 4568 800000 SH CALL SOLE 0102 744800 55200 0 D CARDIONET INC COMMON STOCK 14159L103 10175 1330000 SH SOLE 0102 1238379 91621 0 D CELLU TISSUE HLDGS I NC COM ST COMMON STOCK 151169109 6537 655000 SH SOLE 0102 609880 45120 0 D CENTRAL EUROPEAN MED IA ENTERP COMMON STOCK G20045202 2931 100000 SH SOLE 0102 93112 6888 0 D CHESAPEAKE ENERGY CO RP COM ST COMMON STOCK 165167107 7328 310000 SH SOLE 0102 288644 21356 0 D CHORDIANT SFTWR COM STK COMMON STOCK 170404305 10897 2140946 SH SOLE 0102 1992707 148239 0 D COMSTOCK RES INC COM STK COMMON STOCK 205768203 5183 163000 SH SOLE 0102 151772 11228 0 D E TRADE FINL CORP COM STK COMMON STOCK 269246104 3495 2115000 SH SOLE 0102 1969303 145697 0 D E*TRADE FINL Exch - A SR UNS C CONVRT BONDS 269246AZ7 7991 5000000 SH SOLE 0102 4654100 345900 0 D ELECTRONIC ARTS INC COM STK COMMON STOCK 285512109 1866 100000 SH SOLE 0102 93112 6888 0 D ENERGYSOLUTIONS INC COM STK COMMON STOCK 292756202 386 60000 SH SOLE 0102 55867 4133 0 D FBR CAPITAL MARKETS CORP COM S COMMON STOCK 30247C301 4560 1000000 SH SOLE 0102 931113 68887 0 D GAMESTOP CORP NEW CL A COM STK COMMON STOCK 36467W109 17528 800000 SH SOLE 0102 744811 55189 0 D GEOPETRO COMPANY COM STK COMMON STOCK 37248H304 229 370000 SH SOLE 0102 344512 25488 0 D HARVEST NATURAL RESO URCES INC COMMON STOCK 41754V103 10278 1365000 SH SOLE 0102 1270970 94030 0 D HARVEST NATURAL SR UNS CONV 8. CONVRT BONDS 41754VAA1 1480 1000000 SH SOLE 0102 931000 69000 0 D INTEL CORP COM STK COMMON STOCK 458140100 12259 550000 SH SOLE 0102 512087 37913 0 D ISIS PHARMACEUTICALS CALIF CO COMMON STOCK 464330109 1476 135000 SH SOLE 0102 125700 9300 0 D LIBERTY MEDIA CORP CAP SER A COMMON STOCK 53071M302 21008 577618 SH SOLE 0102 537827 39791 0 D LIBERTY MEDIA CORP C INTER A COMMON STOCK 53071M104 11858 775000 SH SOLE 0102 721615 53385 0 D LIBERTY MEDIA-STARZ SER A COMMON STOCK 53071M708 8938 163495 SH SOLE 0102 152168 11327 0 D MAIDEN HLDGS LTD COMMON STOCK G5753U112 8277 1120000 SH SOLE 0102 1042846 77154 0 D MICROSOFT CORP COM STK COMMON STOCK 594918104 19769 675000 SH SOLE 0102 628472 46528 0 D OCCIDENTAL PETE CORP COMMON STOCK 674599105 6510 77000 SH SOLE 0102 71693 5307 0 D ON SEMICONDUCTOR COR P / SEMI COMMON STOCK 682189105 7260 907500 SH SOLE 0102 844904 62596 0 D ORACLE CORP COM STK COMMON STOCK 68389X105 7713 300000 SH SOLE 0102 279294 20706 0 D PLAINS EXPLORATION & PRODUCTI COMMON STOCK 726505100 12746 425000 SH SOLE 0102 395722 29278 0 D QUALCOMM INC COM STK COMMON STOCK 747525103 7868 187500 SH SOLE 0102 174583 12917 0 D RELIANCE STEEL & ALUMINUM CO COMMON STOCK 759509102 2363 48000 SH SOLE 0102 44693 3307 0 D SONIC AUTOMOTIVE INC CL A COM COMMON STOCK 83545G102 550 50000 SH SOLE 0102 46539 3461 0 D SPREADTRUM COMMUNICA TION SPO ADRS STOCKS 849415203 6772 1211500 SH SOLE 0102 1128041 83459 0 D STEC INC COM STK COMMON STOCK 784774101 7835 654000 SH SOLE 0102 608947 45053 0 D SYMANTEC CORP COM STK COMMON STOCK 871503108 8887 525000 SH SOLE 0102 488834 36166 0 D TRANSATLANTIC PETE C ORP COM S COMMON STOCK G89982105 9187 2640000 SH SOLE 0102 2458130 181870 0 D TRICO MARINE SER B SR UNS GLOB CONVRT BONDS 896106AQ4 5586 15200000 SH SOLE 0102 14153000 1047000 0 D TRICO MARINE SER Exch SR SEC C CONVRT BONDS 896106AW1 4200 6000000 SH SOLE 0102 5587000 413000 0 D TRICO MARINE SVCS IN C COM STK COMMON STOCK 896106200 336 145000 SH SOLE 0102 135012 9988 0 D ULTRASHORT QQQ PROSHARES OPTIONS - CALLS 99OCC6CN1 569 34000 SH CALL SOLE 0102 31700 2300 0 D ULTRASHORT QQQ PROSHARES OPTIONS - CALLS 99OCC6CP6 569 34000 SH CALL SOLE 0102 31700 2300 0 D UNITED WESTERN BANCORP COM ST COMMON STOCK 913201109 1482 975000 SH SOLE 0102 907835 67165 0 D VIACOM INC CL B COM STK COMMON STOCK 92553P201 11002 320000 SH SOLE 0102 297956 22044 0 S REPORT SUMMARY 46 DATA RECORDS 312867 0 OTHER MANAGERS ON WHOSE BEHALF REPORT IS FILED