13F-HR 1 blum13f1205.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, 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: Blum Capital Partners, L.P. Address: 909 Montgomery Street, Suite 400 San Francisco, CA 94133 File 13F File Number: [28-4768] 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, and 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: Gregory D. Hitchan Title: Partner, General Counsel and Secretary Phone: (415) 434-1111 Signature, Place, and Date of Signing: /s/ Gregory D. Hitchan San Francisco, California February 14, 2006 Report Type (Check only one.): [X] 13F HOLDINGS REPORT. [ ] 13F NOTICE. [ ] 13F COMBINATION REPORT. List of Other Managers Reporting for this Manager: NONE 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: 29 Form 13F Information Table Value Total: $2,414,262 List of Other Included Managers: NONE 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 DSCRETN MANAGERS SOLE SHARED NONE ------------------------------ ---------------- --------- -------- -------- --- ---- ------- ------------ -------- -------- -------- BISYS GROUP, INC. COM 055472104 13043 931000 SH SOLE 931000 BOSTON SCIENTIFIC CORP. COM 101137107 4163 170000 SH SOLE 170000 CAREER EDUCATION CORP. COM 141665109 33720 1000000 SH SOLE 1000000 CB RICHARD ELLIS GROUP INC. COM 12497T101 618370 10507565 SH SOLE 10507565 ELECTRONICS FOR IMAGING, INC. COM 286082102 56306 2115965 SH SOLE 2115965 ERESEARCH TECHNOLOGY, INC. COM 29481V108 133990 8873490 SH SOLE 8873490 FIRST DATA CORP. COM 319963104 2366 55000 SH CALL SOLE 55000 HARLEY HAVIDSON INC. COM 412822108 2214 43000 SH SOLE 43000 ITT EDUCATIONAL SERVICES, INC. COM 45068B109 405731 6864000 SH SOLE 6864000 JANUS CAPITAL GROUP, INC. COM 47102X105 272555 14629900 SH SOLE 14629900 JOHNSON & JOHNSON COM 478160904 6304 104900 SH CALL SOLE 104900 KINETIC CONCEPTS, INC. COM 49460W208 167694 4217653 SH SOLE 4217653 LINCARE HOLDINGS, INC. COM 532791100 62456 1490250 SH SOLE 1490250 LINCOLN EDUCATIONAL SERVICES COM 533535100 19198 1346260 SH SOLE 1346260 MACROVISION CORPORATION COM 555904101 41552 2483675 SH SOLE 2483675 MONTPELIER RE HOLDINGS LTD. COM G62185106 81395 4306640 SH SOLE 4306640 NOVELL INC. COM 670006105 117819 13343000 SH SOLE 13343000 NU SKIN ENTERPRISES, INC. CL A COM 67018T105 72619 4130800 SH SOLE 4130800 PAXAR CORP. COM 704227107 58054 2957400 SH SOLE 2957400 PEDIATRIX MEDICAL GROUP, INC. COM 705324101 45835 517500 SH SOLE 517500 PEGASUS SOLUTIONS INC COM 705906105 24344 2713980 SH SOLE 2713980 PERINI CORPORATION COM 713839108 1203 49801 SH SOLE 49801 PRG-SCHULTZ INTERNATIONAL COM 69357C107 5665 9287073 SH SOLE 9287073 PRG-SCHULTZ INTERNATIONAL NOTE 4.75% 11/06 69357CAA5 23764 4651939 SH SOLE 4651939 ROSS STORES, INC. COM 778296103 29343 1015329 SH SOLE 1015329 SKILLSOFT PLC COM 830928107 20212 3674826 SH SOLE 3674826 TCF FINANCIAL CORPORATION COM 872275102 72055 2654920 SH SOLE 2654920 UAP HOLDINGS CORP. COM 903441103 20420 1000000 SH SOLE 1000000 WAL-MART STORES, INC. COM 931142103 1872 40000 SH CALL SOLE 40000