13F-HR 1 cumberland.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, 2003 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 14, 2003 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: 92 Form 13F Information Table Value Total: 471738 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 ABM INDS INC COM COMMON STOCK 000957100 131 10000 SH SOLE 0102 8742 1258 0 D ADAPTEC INC COM COMMON STOCK 00651F108 4920 815884 SH SOLE 0102 713065 102819 0 D ADOLOR CORP COM OPTIONS - CALLS 00724X0DC 396 40000 SH CALL SOLE 0102 34800 5200 0 D ADOLOR CORP COM OPTIONS - CALLS 00724X0GC 595 60000 SH CALL SOLE 0102 52700 7300 0 D ADOLOR CORP COM OPTIONS - CALLS 00724X0GV 297 30000 SH CALL SOLE 0102 26400 3600 0 D AGERE SYSTEMS INC SHS -A- COMMON STOCK 00845V100 360 225000 SH SOLE 0102 196651 28349 0 D AMGEN INC USD COM COMMON STOCK 031162100 13237 230000 SH SOLE 0102 201055 28945 0 D APPLE COMPUTER INC COM COMMON STOCK 037833100 6183 437298 SH SOLE 0102 382189 55109 0 D ASCENTIAL SOFTWARE CORP COM COMMON STOCK 04362P108 4132 1475854 SH SOLE 0102 1289871 185983 0 D AT&T WIRELESS SERVICES INC COMMON STOCK 00209A106 7920 1200000 SH SOLE 0102 1049058 150942 0 D ATLANTIC COAST AIRLINES HLDGS COMMON STOCK 048396105 5092 820000 SH SOLE 0102 716671 103329 0 D BEA SYSTEMS INC COM OPTIONS - PUTS 0733251RB 1775 175000 SH PUT SOLE 0102 152800 22200 0 D BEARINGPOINT INC COMMON STOCK 074002106 3944 619093 SH SOLE 0102 541081 78012 0 D BERKLEY W R CORP COM COMMON STOCK 084423102 14569 340000 SH SOLE 0102 297162 42838 0 D BJ'S WHOLESALE CLUB INC COM COMMON STOCK 05548J106 254 22500 SH SOLE 0102 19663 2837 0 D BUNGE LTD COMMON STOCK G16962105 8419 334610 SH SOLE 0102 292443 42167 0 D CABLEVISION NY GROUP CLASS A COMMON STOCK 12686C109 3798 200000 SH SOLE 0102 174798 25202 0 D CALPINE CORP COM COMMON STOCK 131347106 3383 1025000 SH SOLE 0102 895965 129035 0 D CALPINE CORP SENIOR NOTES CONVRT BONDS 131347BA3 7370 11000000 SH SOLE 0102 9615000 1385000 0 D CARNIVAL CORP COM STK COMMON STOCK 143658102 482 20000 SH SOLE 0102 17481 2519 0 D CHARLES SCHWAB CORP COM COMMON STOCK 808513105 6679 925000 SH SOLE 0102 808439 116561 0 D CITIZENS COMM CO COM STK COMMON STOCK 17453B101 12164 1218886 SH SOLE 0102 1070083 148803 0 D CITRIX SYSTEMS INC COM OPTIONS - PUTS 1773760UV 1316 100000 SH PUT SOLE 0102 87100 12900 0 D CLAYTON HOMES INC COM COMMON STOCK 184190106 718 65000 SH SOLE 0102 56807 8193 0 D CORE LABORATORIES NL G0.03 ORD COMMON STOCK N22717107 2184 210000 SH SOLE 0102 183539 26461 0 D DYNEGY INC CL-A COM STK COMMON STOCK 26816Q101 10701 4100000 SH SOLE 0102 3583209 516791 0 D E*TRADE GROUP INC COM COMMON STOCK 269246104 13051 3100000 SH SOLE 0102 2709744 390256 0 D ELECTRONIC ARTS COM COMMON STOCK 285512109 617 10521 SH SOLE 0102 9195 1326 0 D EMCOR GROUP INC COM COMMON STOCK 29084Q100 9641 199820 SH SOLE 0102 174678 25142 0 D ENCANA CORPORATION COMMON STOCK 292505104 4530 140000 SH SOLE 0102 122357 17643 0 D ENTERASYS NETWORKS INC COM STK COMMON STOCK 293637104 1110 600000 SH SOLE 0102 524530 75470 0 D EXPEDIA INC COM STK OPTIONS - PUTS 3021250SZ 11107 215000 SH PUT SOLE 0102 187900 27100 0 D FLEET BOSTON FINANCIAL CORP COMMON STOCK 339030108 9194 385000 SH SOLE 0102 336486 48514 0 D GLOBALSANTAFE CORP OPTIONS - CALLS G7805CEAD 4130 200000 SH CALL SOLE 0102 175000 25000 0 D GRANT PRIDE CO COM STK COMMON STOCK 38821G101 10130 840000 SH SOLE 0102 734148 105852 0 D HALLIBURTON CO COM COMMON STOCK 406216101 10365 500000 SH SOLE 0102 436995 63005 0 D HALLIBURTON CO COM OPTIONS - CALLS 406216SAD 2073 100000 SH CALL SOLE 0102 87100 12900 0 D HANOVER COMPRESSOR CO COM COMMON STOCK 410768105 11050 1700000 SH SOLE 0102 1486093 213907 0 D HARVEST NATURAL RESO URCES INC COMMON STOCK 41754V103 9380 1930000 SH SOLE 0102 1686795 243205 0 D HEWLETT PACKARD CO USD1 COM COMMON STOCK 428236103 5443 350000 SH SOLE 0102 305976 44024 0 D HISPANIC BROADCASTIN G CORP US COMMON STOCK 43357B104 258 12500 SH SOLE 0102 10926 1574 0 D HOME DEPOT INC COM COMMON STOCK 437076102 9257 380000 SH SOLE 0102 332114 47886 0 D HYPERION SOLUTIONS CORP COMMON STOCK 44914M104 6063 250000 SH SOLE 0102 218499 31501 0 D IMPAX LABORATORIES INC. COM COMMON STOCK 45256B101 148 33000 SH SOLE 0102 28846 4154 0 D INFINITY PPTY COMMON STOCK 45665Q103 6388 350000 SH SOLE 0102 305889 44111 0 D INFONET SERVICES CORPORATION COMMON STOCK 45666T106 1770 1383091 SH SOLE 0102 1208888 174203 0 D INTERFACE FLOORING SYS INC CL COMMON STOCK 458665106 302 91500 SH SOLE 0102 79974 11526 0 D J.D. EDWARDS & CO COM STK COMMON STOCK 281667105 5159 467681 SH SOLE 0102 409902 57779 0 D J.P. MORGAN CHASE & CO COM COMMON STOCK 46625H100 11855 500000 SH SOLE 0102 436996 63004 0 D LENDINGTREE INC COMMON STOCK 52602Q105 1634 140000 SH SOLE 0102 122357 17643 0 D LIBERTY MEDIA CORP NEW COMMON STOCK 530718105 13822 1420547 SH SOLE 0102 1241545 179002 0 D LIN TV CORP Cl A COMMON STOCK 532774106 410 20000 SH SOLE 0102 17481 2519 0 D MILESTONE SCIENTIFIC INC COM COMMON STOCK 59935P100 166 920000 SH SOLE 0102 920000 0 0 D ML BIOTECH HLDG US ETFS HOLDERS US ETF'S 09067D201 4663 50000 SH SOLE 0102 43699 6301 0 D MOHAWK INDS INC COM COMMON STOCK 608190104 14382 300000 SH SOLE 0102 262200 37800 0 D NOBLE CORP OPTIONS - CALLS G654222AF 1885 60000 SH CALL SOLE 0102 52700 7300 0 D NVIDIA CORP COM STK COMMON STOCK 67066G104 457 35500 SH SOLE 0102 31028 4472 0 D NVIDIA CORP COM STK OPTIONS - CALLS 67066G0DC 1610 125000 SH CALL SOLE 0102 109600 15400 0 D OFFICE DEPOT INC USD.01 COM COMMON STOCK 676220106 4382 370377 SH SOLE 0102 323703 46674 0 D PHARM HLDRS US ETFS HOLDERS US ETF'S 71712A206 10370 140000 SH SOLE 0102 122362 17638 0 D PHARMACEUTICAL RESOURCES INC COMMON STOCK 717125108 17757 418000 SH SOLE 0102 365318 52682 0 D PIXAR COM OPTIONS - PUTS 7258110SJ 1353 25000 SH PUT SOLE 0102 21900 3100 0 D PRIME HOSPITALITY CORP COMMON STOCK 741917108 4479 867971 SH SOLE 0102 758619 109352 0 D QUINTILES TRANSNATIONAL CORP COMMON STOCK 748767100 243 20000 SH SOLE 0102 17477 2523 0 D REGENERON PHARMACEUTICALS INC OPTIONS - CALLS 75886F0DX 1506 200200 SH CALL SOLE 0102 174700 25500 0 D RESORTQUEST INTL INC COM STK COMMON STOCK 761183102 1879 606059 SH SOLE 0102 523861 82198 0 D ROBERT HALF INTL INC COM COMMON STOCK 770323103 200 15000 SH SOLE 0102 13113 1887 0 D ROYAL CARIBBEAN CRUISES LTD COMMON STOCK V7780T103 225 15000 SH SOLE 0102 13113 1887 0 D S1 CORPORATION COM STK COMMON STOCK 78463B101 8653 1690000 SH SOLE 0102 1477036 212964 0 D SILICON STORAGE TECHNOLOGY INC COMMON STOCK 827057100 311 135000 SH SOLE 0102 117991 17009 0 D SOVEREIGN BANCORP INC COMMON STOCK 845905108 10734 775000 SH SOLE 0102 677338 97662 0 D SPINNAKER EXPL COM STK COMMON STOCK 84855W109 14614 752500 SH SOLE 0102 657745 94755 0 D STONE ENERGY CORP COM COMMON STOCK 861642106 4869 145000 SH SOLE 0102 126726 18274 0 D SUN MICROSYSTEMS INC USD.0006 COMMON STOCK 866810104 114 35000 SH SOLE 0102 30595 4405 0 D SWIFT TRANSN CO INC COM COMMON STOCK 870756103 1480 92500 SH SOLE 0102 80843 11657 0 D T-HQ INC COM NEW COMMON STOCK 872443403 10253 785094 SH SOLE 0102 686143 98951 0 D T-HQ INC COM NEW OPTIONS - CALLS 8724430FC 653 50000 SH CALL SOLE 0102 43900 6100 0 D TARGET CORP COM STK COMMON STOCK 87612E106 439 15000 SH SOLE 0102 13109 1891 0 D TARO PHARMACEUTICAL INDS SHS A COMMON STOCK M8737E108 13972 365000 SH SOLE 0102 319003 45997 0 D TEREX CORP NEW COM COMMON STOCK 880779103 8116 656631 SH SOLE 0102 573889 82742 0 D TESORO PETROLEUM CORP COMMON STOCK 881609101 6956 940000 SH SOLE 0102 821544 118456 0 D TEVA PHARMACEUTICAL ADR FOR 10 ADRS STOCKS 881624209 12287 295000 SH SOLE 0102 257832 37168 0 D TJX COS INC NEW COM COMMON STOCK 872540109 176 10000 SH SOLE 0102 8738 1262 0 D TRANSOCEAN INC OPTIONS - CALLS G900780AD 2045 100000 SH CALL SOLE 0102 87500 12500 0 D UNITEDGLOBALCOM INC CL-A COM COMMON STOCK 913247508 1186 389000 SH SOLE 0102 339984 49016 0 D VISHAY INTERTECHNLGY COMMON STOCK 928298108 6140 603166 SH SOLE 0102 527157 76009 0 D VIVENDI SPONSORED ADR ADRS STOCKS 92851S204 11570 863437 SH SOLE 0102 754638 108799 0 D VIVENDI SPONSORED ADR OPTIONS - CALLS 92851S0IC 2010 150000 SH CALL SOLE 0102 131300 18700 0 D WACHOVIA CORP COM COMMON STOCK 929903102 7325 215000 SH SOLE 0102 187904 27096 0 D WERNER ENTERPRISES INC COMMON STOCK 950755108 1396 72500 SH SOLE 0102 63363 9137 0 D WESTWOOD ONE INC COM COMMON STOCK 961815107 703 22500 SH SOLE 0102 19667 2833 0 D WILLIAMS SONOMA INC COM COMMON STOCK 969904101 273 12500 SH SOLE 0102 10921 1579 0 S REPORT SUMMARY 92 DATA RECORDS 471738 0 OTHER MANAGERS ON WHOSE BEHALF REPORT IS FILED