13F-HR 1 d668588_13f-hr.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, 2006 Check here if Amendment: |_|; Amendment Number: ____ This Amendment (Check only one): |_| is a restatement |_| adds new holding entries. Institutional Manager Filing this Report: Name: Deltec Asset Management LLC Address: 645 Fifth Avenue New York, New York 10002 13F File Number: 28-4706 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: Stephen Zuppello Title: Senior Managing Director Phone: (212) 546-6285 Signature, Place and Date of Signing: /s/ Stephen Zupello New York, New York May 10, 2006 ----------------------- -------------------------- ---------------------- [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 managers(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).) List of Other Managers Reporting for this Manager: NONE Form 13F SUMMARY PAGE Report Summary: Number of Other Included Managers: 0 Form 13F Information Table Entry Total: 136 Form 13F Information Table Value Total: $360,226 (thousands) List of Other Included Managers: None FORM 13F INFORMATION TABLE COLUMN 1 COLUMN 2 COLUMN 3 COLUMN 4 COLUMN 5 COLUMN 6 COLUMN 7 COLUMN 8 TITLE VALUE SHRS OR SH/ PUT/ INVESTMT OTHER VOTING AUTHORITY NAME OF ISSUER OF CLASS CUSIP (X$1000) PRN AMT PRN CALL DISCRETN MGRS SOLE SHARED NONE -------------- -------- ----- -------- ------- ---- --- -------- ---- ---- ------ ---- AEROFLEX INC COM 007768104 10,373 755,484 SOLE NONE 755,484 AGILENT TECHNOLOGIES INC COM 00846U101 451 12,000 SOLE NONE 12,000 ALCAN INC COM 013716105 962 21,000 SOLE NONE 21,000 ALCON INC COM SHS H01301102 422 4,050 SOLE NONE 4,050 ALEXANDER & BALDWIN INC COM 014482103 477 10,000 SOLE NONE 10,000 ALEXANDERS INC COM 014752109 477 1,650 SOLE NONE 1,650 ALLIED CAP CORP NEW COM 01903Q108 275 9,000 SOLE NONE 9,000 AMERICA MOVIL S A DE C V SPON ADR L SHS 02364W105 2,158 63,000 SOLE NONE 63,000 AMERICAN INTL GROUP INC COM 026874107 293 4,429 SOLE NONE 4,429 AMERICAN CAPITAL STRATEGIES COM 024937104 211 6,000 SOLE NONE 6,000 AMYLIN PHARMACEUTICALS INC COM 032346108 431 8,800 SOLE NONE 8,800 ANADARKO PETE CORP COM 032511107 7,544 74,688 SOLE NONE 74,688 ANGLO AMERN PLC ADR 03485P102 501 25,600 SOLE NONE 25,600 AT&T INC COM 00206R102 359 13,273 SOLE NONE 13,273 AU OPTRONICS CORP SPONSORED ADR 002255107 5,174 347,000 SOLE NONE 347,000 AVOCENT CORP COM 053893103 698 22,000 SOLE NONE 22,000 BALLY TECHNOLOGIES INC COM 05874B107 293 17,250 SOLE NONE 17,250 BANCO BRADESCO S A SPONSORED ADR 059460303 6,769 188,500 SOLE NONE 188,500 BANCOLOMBIA S A SPONSORED ADR PREF 05968L102 15,195 435,400 SOLE NONE 435,400 BANK OF AMERICA CORPORATION COM 060505104 690 15,150 SOLE NONE 15,150 BRASKEM SA SPON ADR PFD A 105532105 8,981 602,350 SOLE NONE 602,350 BUNGE LIMITED SHS COM G16962105 585 10,500 SOLE NONE 10,500 CACHE INC COM NEW 127150308 5,569 303,658 SOLE NONE 303,658 CANADIAN PAC RY LTD COM 13645T100 1,189 23,800 SOLE NONE 23,800 CARDIAC SCIENCE CORP COM 14141A108 200 21,880 SOLE NONE 21,880 CATERPILLAR INC DEL COM 149123101 208 2,900 SOLE NONE 2,900 CELL THERAPEUTICS INC NOTE 4.000% 7/0 150934AF4 1,249 2,855,000 SOLE NONE 2,855,000 CEMEX SA SPON ADR 5 ORD 151290889 1,306 20,000 SOLE NONE 20,000 CHINA LIFE INS CO SPON ADR RFP H 16939P106 1,021 20,000 SOLE NONE 20,000 CHUNGHWA TELECOM CO LTD SPONSORED ADR 17133Q205 2,214 113,000 SOLE NONE 113,000 CITIGROUP INC COM 172967101 839 17,762 SOLE NONE 17,762 CKE RESTAURANTS INC COM 12561E105 3,311 190,300 SOLE NONE 190,300 CLAIRES STORES INC COM 179584107 327 9,000 SOLE NONE 9,000 COMPANHIA SIDERURGICA NACION SPONSORED ADR 20440W105 6,782 215,850 SOLE NONE 215,850 COMPANHIA DE SANEAMENTO BASI SPONSORED ADR 20441A102 594 27,000 SOLE NONE 27,000 COMPANHIA DE BEBIDAS DAS AME SPONSORED ADR 20441W104 280 7,450 SOLE NONE 7,450 Companhia De Bebidas DAS AME SPON ADR PFD 20441W203 1,761 41,000 SOLE NONE 41,000 COMPANHIA ENERGETICA DE MINAS SP ADR N-V 204409601 4,833 106,300 SOLE NONE 106,300 COMPANHIA PARANAENSE ENERGI C SPON ADR PFD 20441B407 113 11,500 SOLE NONE 11,500 COMPANHIA VALE DO RIO DOCE SPONSORED ADR 204412209 5,098 105,050 SOLE NONE 105,050 COMPANIA DE MINAS BUENAVENTU SPONSORED ADR 204448104 3,290 133,250 SOLE NONE 133,250 CONCORD CAMERA CORP COM 206156101 33 30,000 SOLE NONE 30,000 CONOCOPHILLIPS COM 20825C104 1,074 17,000 SOLE NONE 17,000 CONSOLIDATED EDISON INC COM 209115104 261 6,000 SOLE NONE 6,000 CORE MARK HLDG CO INC COM 218681104 416 10,879 SOLE NONE 10,879 CORNING INC COM 219350105 1,389 51,600 SOLE NONE 51,600 CPFL ENERGIA SA SPONSORED ADR 126153105 14,864 353,900 SOLE NONE 353,900 CREDICORP LTD COM G2519Y108 1,324 50,000 SOLE NONE 50,000 CRUCELL N V SPONSORED ADR 228769105 6,967 248,100 SOLE NONE 248,100 DEPOMED INC COM 249908104 4,604 705,065 SOLE NONE 705,065 DONNELLEY R R & SONS CO COM 257867101 267 8,170 SOLE NONE 8,170 DU PONT E I DE NEMOURS & CO COM 263534109 299 7,088 SOLE NONE 7,088 EMBRAER EMPRESA BRASILEIRA D SP ADR PFD SHS 29081M102 1,474 40,000 SOLE NONE 40,000 EMCORE CORP COM 290846104 4,635 453,600 SOLE NONE 453,600 EMPRESAS ICA SA DE C V SPONS ADR NEW 292448206 328 8,958 SOLE NONE 8,958 ENCANA CORP COM 292505104 740 15,840 SOLE NONE 15,840 EXXON MOBIL CORP COM 30231G102 353 5,800 SOLE NONE 5,800 FOOT LOCKER INC COM 344849104 3,224 135,000 SOLE NONE 135,000 FREEPORT MCMORAN COPPER & GO CL B 35671D857 299 5,000 SOLE NONE 5,000 GENERAL ELECTRIC CO COM 369604103 655 18,828 SOLE NONE 18,828 GLOBIX CORP COM NEW 37957F200 55 20,000 SOLE NONE 20,000 GRIEF INC CL B 397624206 388 4,100 SOLE NONE 4,100 GRUPO FINANCIERO GALICIA S A SP ADR 10 SH B 399909100 559 72,500 SOLE NONE 72,500 HARTMARX CORP COM 417119104 5,788 649,600 SOLE NONE 649,600 HAWAIIAN HLDGS INC COM 419879101 65 12,500 SOLE NONE 12,500 HUDSON HIGHLAND GROUP INC COM 443792106 833 44,000 SOLE NONE 44,000 ICICI BK LTD ADR 45104G104 2,948 106,500 SOLE NONE 106,500 INTEL CORP COM 458140100 987 51,000 SOLE NONE 51,000 INTERNATIONAL BUSINESS MACHS COM 459200101 338 4,100 SOLE NONE 4,100 IRSA INVERSIONES Y REP SA GLOBL DEP RCT 450047204 356 30,000 SOLE NONE 30,000 ISHARES INC MSCI HONG KONG 464286871 2,752 204,000 SOLE NONE 204,000 ISHARES INC MSCI JAPAN 464286848 1,159 80,500 SOLE NONE 80,500 ISHARES INC MSCI MALAYSIA 464286830 535 71,600 SOLE NONE 71,600 ISHARES INC MSCI TAIWAN 464286731 955 75,000 SOLE NONE 75,000 IXYS CORP COM 46600W106 9,340 1,013,057 SOLE NONE 1,013,057 JMAR TECHNOLOGIES INC COM 466212107 83 94,000 SOLE NONE 94,000 JOHNSON & JOHNSON COM 478160104 307 5,186 SOLE NONE 5,186 JP MORGAN CHASE & CO COM 46625H100 271 6,500 SOLE NONE 6,500 JUNIPER NETWORKS INC COM 48203R104 1,816 95,000 SOLE NONE 95,000 KOHLS CORP COM 500255104 2,253 42,500 SOLE NONE 42,500 KOOKMIN BK NEW SPONSORED ADR 50049M109 10,252 119,880 SOLE NONE 119,880 LEUCADIA NATL CORP COM 527288104 262 4,399 SOLE NONE 4,399 LORAL SPACE & COMMUNICATIONS COM 543881106 348 12,134 SOLE NONE 12,134 LUCENT TECHNOLOGIES INC COM 549463107 33 10,697 SOLE NONE 10,697 MAGELLAN HEALTH SVCS INC COM NEW 559079207 960 23,716 SOLE NONE 23,716 MAXIM INTEGRATED PRODS INC COM 57772K101 520 14,000 SOLE NONE 14,000 MCDONALDS CORP COM 580135101 550 16,000 SOLE NONE 16,000 MIKOHN GAMING CORP COM 59862K108 705 73,672 SOLE NONE 73,672 MIRANT CORP NEW W EXP 1/03/201 60467R126 284 25,575 SOLE NONE 25,575 MIRANT CORP NEW COM 60467R100 10,617 424,681 SOLE NONE 424,681 MORGAN STANLEY COM NEW 617446448 433 6,900 SOLE NONE 6,900 NEUROBIOLOGICAL TECHNOLOGIES INC COM 64124W106 50 14,000 SOLE NONE 14,000 NORTEL INVERSORA S A SPON ADR PFD B 656567401 2,011 201,300 SOLE NONE 201,300 PACIFIC SUNWEAR CALIF INC COM 694873100 687 31,000 SOLE NONE 31,000 PAINCARE HLDGS INC COM 69562E104 67 35,000 SOLE NONE 35,000 PENN TREATY AMERN CORP COM NEW 707874400 326 35,311 SOLE NONE 35,311 PETRO-CDA COM 71644E102 570 12,000 SOLE NONE 12,000 PETROLEO BRASILEIRO SA SPONSORED ADR 71654V101 25,336 317,300 SOLE NONE 317,300 PFIZER INC COM 717081103 655 26,300 SOLE NONE 26,300 PHARMACEUTICAL PROD DEV INC COM 717124101 2,769 80,000 SOLE NONE 80,000 PHILIPPINE LONG DISTANCE TEL SPONSORED ADR 718252604 3,847 102,400 SOLE NONE 102,400 PLAINS ALL AMERN PIPELINE L UNIT LTD PARTN 726503105 562 12,500 SOLE NONE 12,500 PRIMUS TELECOMMUNICATIONS GR MTG 3.750% 9/1 741929AN3 204 500,000 SOLE NONE 500,000 QUIKSILVER INC COM 74838C106 5,008 361,300 SOLE NONE 361,300 RELIANT ENERGY INC COM 75952B105 106 10,000 SOLE NONE 10,000 REVLON INC CL A 761525500 728 230,380 SOLE NONE 230,380 SEMCO ENERGY INC COM 78412D109 222 40,000 SOLE NONE 40,000 SILICONWARE PRECISION INDS L SPONSD ADR SPL 827084864 3,094 479,723 SOLE NONE 479,723 STAR SCIENTIFIC INC COM 85517P101 125 40,000 SOLE NONE 40,000 SYMANTEC CORP COM 871503108 172 10,200 SOLE NONE 10,200 TAIWAN SEMICONDUCTOR MFG CO SPONSORED ADR 874039100 12,132 1,205,924 SOLE NONE 1,205,924 TALISMAN ENERGY INC COM 87425E103 1,287 24,200 SOLE NONE 24,200 TELE NORTE LESTE PART S A COM 879246106 14,111 845,957 SOLE NONE 845,957 TELECOM ARGENTINA S A SPON ADR RFP B 879273209 271 20,000 SOLE NONE 20,000 TELECOMUNICACOES DE SAO PAULO COM 87929A102 4,372 177,000 SOLE NONE 177,000 TELEDYNE TECHNOLOGIES INC COM 879360105 1,424 40,000 SOLE NONE 40,000 TELEFONOS DE MEXICO SA COM 879403780 2,252 100,200 SOLE NONE 100,200 TENARIS SA SPONSORED ADR 88031M109 903 5,000 SOLE NONE 5,000 TEREX CORP NEW COM 880779103 5,329 67,250 SOLE NONE 67,250 TIM PARTICIPACOES SA SPONS ADR PFD 88706P106 11,746 317,200 SOLE NONE 317,200 TIMBERLAND CO COM 887100105 240 7,000 SOLE NONE 7,000 TJX COS INC NEW COM 872540109 236 9,500 SOLE NONE 9,500 TOYOTA MOTOR CORP SP ADR REP2COM 892331307 1,448 13,300 SOLE NONE 13,300 TRANSGENOMIC INC COM 89365K206 48 60,000 SOLE NONE 60,000 TRANSWITCH CORP COM 894065101 88 33,772 SOLE NONE 33,772 TRM CORP COM 872636105 701 104,101 SOLE NONE 104,101 TYCO INTL LTD NEW COM 902124106 1,536 57,150 SOLE NONE 57,150 UNIBANCO UNIAO DE BANCOS BRA GDR REP PFD UT 90458E107 22,258 301,150 SOLE NONE 301,150 UNITED MICROELECTRONICS CORP SPONSORED ADR 910873207 85 25,000 SOLE NONE 25,000 UNITEDHEALTH GROUP INC COM 91324P102 229 4,096 SOLE NONE 4,096 URBAN OUTFITTERS INC COM 917047102 736 30,000 SOLE NONE 30,000 VEECO INSTRS INC DEL COM 922417100 4,504 192,880 SOLE NONE 192,880 VENTIV HEALTH INC COM 922793104 3,473 104,556 SOLE NONE 104,556 VORNADO RLTY TR SH BEN INT 929042109 1,632 17,000 SOLE NONE 17,000 VOTORANTIM CELULOSE E PAPEL SPONSORED ADR 92906P106 15,724 971,800 SOLE NONE 971,800 WALTER INDS INC COM 93317Q105 3,464 52,000 SOLE NONE 52,000
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