13F-HR 1 strome13f.txt MARCH 31, 2005 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, 2005 ---------------------- 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: Strome Investment Management, L.P. --------------------------------------------------- Address: 100 Wilshire Blvd., 15th Floor --------------------------------------------------- Santa Monica, CA 90401 --------------------------------------------------- --------------------------------------------------- Form 13F File Number: 28- 04963 ------------ 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 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: Jeffrey S. Lambert --------------------------------------------------- Title: Chief Operating Officer --------------------------------------------------- Phone: 310-752-1402 --------------------------------------------------- Signature, Place, and Date of Signing: /s/ Jeffrey S. Lambert Santa Monica, CA 5/2/2005 ---------------------------- ------------------------------------ ------------ [Signature] [City, State] [Date] Report Type (Check only one.): [X] 13F HOLDINGS REPORT. (Check here if all holdings of this reporting manager are reported in this report.) [ ] 13F NOTICE. (Check here if no holdings reported are in this report, and all holdings are reported by other reporting manager(s).) [ ] 13F COMBINATION REPORT. (Check here if a portion of the holdings for this reporting manager are reported in this report and a portion are reported by other reporting manager(s).) Form 13F SUMMARY PAGE Report Summary: Number of Other Included Managers: 1 ------------------- Form 13F Information Table Entry Total: 107,433 ------------------- Form 13F Information Table value Total: $ 46 ------------------- (thousands) List of Other Included Managers: Provide a numbered list of the name(s) and Form 13F file number(s) of all institutional investment managers with respect to which this report is filed, other than the manager filing this report. [If there are no entries in this list, state "NONE" and omit the column headings and list entries.] No. 13F File No. Name 01 28-4168 Mark Strome
MARKET VALUE SECURITY Title CUSIP (x1000) QUANTITY TYPE ----------------------------- ---------- ------------ ----------- ALLIANCE RESOURCE PARTNERS COM 01877R108 2,507 39,000 SH CROSSTEX ENERGY LP COM 22765U102 3,403 100,060 SH ENTERPRISE PRODUCTS PARTNERS COM 293792107 2,570 100,000 SH INERGY LP COM 456615103 3,237 100,000 SH K-SEA TRANSPORTATION PARTNER COM 48268Y101 1,204 35,000 SH MAGELLAN MIDSTREAM PARTNERS COM 559080106 6,410 105,000 SH MARKWEST ENERGY PARTNERS LP COM 570759100 711 15,000 SH NATURAL RESOURCE PARTNERS LP COM 63900P103 9,641 180,300 SH NORTHERN BORDER PARTNERS-LP COM 664785102 3,131 64,900 SH PLAINS ALL AMER PIPELINE LP COM 726503105 5,038 130,000 SH US SHIPPING PARTNERS LP COM 903417103 2,904 114,000 SH MEDICAL PROPERTIES TRUST COM 58463J205 750 75,000 SH AMR CORP COM 001765106 7,490 700,000 SH AASTROM BIOSCIENCES INC COM 00253U107 208 100,000 SH ALLIED HEALTHCARE INTL INC COM 01923A109 1,063 170,000 SH CAMECO CORP COM 13321L108 2,212 50,000 SH CROSSTEX ENERGY INC COM 22765Y104 875 20,000 SH ENTREMED INC COM 29382F103 485 230,800 SH ICO GLOBAL COM HLDG LTD-NEW COM 44930K108 1,680 500,000 SH INTEGRATED ALARM SERVICES COM 45890M109 450 88,475 SH KFX INC COM 48245L107 7,705 575,000 SH LCC INTERNATIONAL INC-CL A COM 501810105 1,474 350,000 SH LONE STAR TECHNOLOGIES INC COM 542312103 394 10,000 SH MIDWAY GAMES INC COM 598148104 1,026 100,000 SH MOTIENT CORP COM 619908304 22,997 793,000 SH NVIDIA CORP COM 67066G104 2,376 100,000 SH PETROHAWK ENERGY CORP COM 716495106 1,310 125,000 SH PETROKAZAKHSTAN INC-CL A COM 71649P102 1,004 25,000 SH PROTALEX INC COM 743642100 969 340,000 SH SANDISK CORP COM 80004C101 1,390 50,000 SH STEMCELLS INC COM 85857R105 197 62,600 SH TALISMAN ENERGY INC COM 87425E103 3,638 106,530 SH URANIUM RESOURCES INC COM 916901309 816 1,200,000 SH VERISIGN INC COM 92343E102 2,870 100,000 SH ---------------- TOTAL COMMON STOCKS 104,135 CALL HOUSTON EXPLORATION CO CALL 55.0 04/16/05 4421209DK 21 100 CALL CALL MORGAN STANLEY CALL 55.0 04/16/05 6174469D3 555 2,000 CALL CALL CAMECO CORP CALL 40.0 06/18/05 13321L9F7 335 500 CALL CALL GENENTECH INC. CALL 60.0 06/18/05 3687109FL 110 500 CALL CALL HERCULES INC CALL 15.0 06/18/05 4270569F5 105 2,000 CALL CALL HOUSTON EXPLORATION CO CALL 55.0 06/18/05 4421209F0 94 250 CALL CALL CAMECO CORP CALL 50.0 06/18/05 99CCJFJ 210 1,000 CALL CALL GOOGLE INC. CALL 200.0 06/18/05 99TGOUFT 288 500 CALL CALL HOUSTON EXPLORATION CO CALL 60.0 06/18/05 99THXFL 55 260 CALL CALL MORGAN STANLEY CALL 60.0 07/16/05 6174469G6 612 2,750 CALL CALL MORGAN STANLEY CALL 65.0 07/16/05 99MWDGO 13 1,000 CALL ---------------- TOTAL EQUITY CALL OPTIONS 2,398 PUT RETAIL HOLDRS TRUST PUT 100.0 10/22/05 76127U9V5 900 1,500 PUT ---------------- TOTAL EQUITY PUT OPTIONS 900 107,433 ================ INVESTMENT DISCRETION VOTING AUTHORITY _______ _____________ ____________________ _________ ____ SECURITY SOLE SHARE OTHER MGRS SOLE SHARE NONE ----------------------------- ----------------------- --------------------------------- ---- ALLIANCE RESOURCE PARTNERS 39,000 01 39,000 CROSSTEX ENERGY LP 100,060 01 100,060 ENTERPRISE PRODUCTS PARTNERS 100,000 01 100,000 INERGY LP 100,000 01 100,000 K-SEA TRANSPORTATION PARTNER 35,000 01 35,000 MAGELLAN MIDSTREAM PARTNERS 105,000 01 105,000 MARKWEST ENERGY PARTNERS LP 15,000 01 15,000 NATURAL RESOURCE PARTNERS LP 180,300 01 180,300 NORTHERN BORDER PARTNERS-LP 64,900 01 64,900 PLAINS ALL AMER PIPELINE LP 130,000 01 130,000 US SHIPPING PARTNERS LP 114,000 01 114,000 MEDICAL PROPERTIES TRUST 75,000 01 75,000 AMR CORP 700,000 01 700,000 AASTROM BIOSCIENCES INC 100,000 01 100,000 ALLIED HEALTHCARE INTL INC 170,000 01 170,000 CAMECO CORP 50,000 01 50,000 CROSSTEX ENERGY INC 20,000 01 20,000 ENTREMED INC 230,800 01 230,800 ICO GLOBAL COM HLDG LTD-NEW 500,000 01 500,000 INTEGRATED ALARM SERVICES 88,475 01 88,475 KFX INC 575,000 01 575,000 LCC INTERNATIONAL INC-CL A 350,000 01 350,000 LONE STAR TECHNOLOGIES INC 10,000 01 10,000 MIDWAY GAMES INC 100,000 01 100,000 MOTIENT CORP 793,000 01 793,000 NVIDIA CORP 100,000 01 100,000 PETROHAWK ENERGY CORP 125,000 01 125,000 PETROKAZAKHSTAN INC-CL A 25,000 01 25,000 PROTALEX INC 340,000 01 340,000 SANDISK CORP 50,000 01 50,000 STEMCELLS INC 62,600 01 62,600 TALISMAN ENERGY INC 106,530 01 106,530 URANIUM RESOURCES INC 1,200,000 01 1,200,000 VERISIGN INC 100,000 01 100,000 TOTAL COMMON STOCKS CALL HOUSTON EXPLORATION CO 100 01 100 CALL MORGAN STANLEY 2,000 01 2,000 CALL CAMECO CORP 500 01 500 CALL GENENTECH INC. 500 01 500 CALL HERCULES INC 2,000 01 2,000 CALL HOUSTON EXPLORATION CO 250 01 250 CALL CAMECO CORP 1,000 01 1,000 CALL GOOGLE INC. 500 01 500 CALL HOUSTON EXPLORATION CO 260 01 260 CALL MORGAN STANLEY 2,750 01 2,750 CALL MORGAN STANLEY 1,000 01 1,000 TOTAL EQUITY CALL OPTIONS PUT RETAIL HOLDRS TRUST 1,500 01 1,500 TOTAL EQUITY PUT OPTIONS