-----BEGIN PRIVACY-ENHANCED MESSAGE----- Proc-Type: 2001,MIC-CLEAR Originator-Name: webmaster@www.sec.gov Originator-Key-Asymmetric: MFgwCgYEVQgBAQICAf8DSgAwRwJAW2sNKK9AVtBzYZmr6aGjlWyK3XmZv3dTINen TWSM7vrzLADbmYQaionwg5sDW3P6oaM5D3tdezXMm7z1T+B+twIDAQAB MIC-Info: RSA-MD5,RSA, VZgpZXShC6ovNRXfAsPvlvjCCdpy75QQ3eUbRdbqQAY0byvfg2nCnkmOlZkZINne SZIBWJ+91EdVOyiVpAr9Bg== 0000930413-10-004345.txt : 20100809 0000930413-10-004345.hdr.sgml : 20100809 20100809154341 ACCESSION NUMBER: 0000930413-10-004345 CONFORMED SUBMISSION TYPE: 13F-HR PUBLIC DOCUMENT COUNT: 1 CONFORMED PERIOD OF REPORT: 20100630 FILED AS OF DATE: 20100809 DATE AS OF CHANGE: 20100809 EFFECTIVENESS DATE: 20100809 FILER: COMPANY DATA: COMPANY CONFORMED NAME: GAM Holding Ltd. CENTRAL INDEX KEY: 0001438848 IRS NUMBER: 000000000 FILING VALUES: FORM TYPE: 13F-HR SEC ACT: 1934 Act SEC FILE NUMBER: 028-13808 FILM NUMBER: 101001503 BUSINESS ADDRESS: STREET 1: 120 BROADWAY STREET 2: 32ND FLOOR CITY: NEW YORK STATE: NY ZIP: 10271 BUSINESS PHONE: 212-238-3010 MAIL ADDRESS: STREET 1: 120 BROADWAY STREET 2: 32ND FLOOR CITY: NEW YORK STATE: NY ZIP: 10271 FORMER COMPANY: FORMER CONFORMED NAME: Julius Baer Holding Ltd. DATE OF NAME CHANGE: 20080627 13F-HR 1 c62469_13fhr.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: 06/30/10 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: GAM Holding Ltd. Address: Klaustrasse 10, 8008 Zurich, Switzerland 13F File Number: 28-7714 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: Andrew Wills Title: Group Chief Financial Officer Phone: 41-058-426-3136 Signature, Place, and Date of Signing: Andrew Wills London, United Kingdom 08/06/2010 Report Type (Check only one.): [ X] 13F HOLDINGS REPORT. [ ] 13F NOTICE. [ ] 13F COMBINATION REPORT. List of Other Managers Reporting for this Manager: 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: 4 Form 13F Information Table Entry Total: 990 Form 13F Information Table Value Total: $3,021,141 List of other Included Managers No. 13F File Number Name 01 00-00000-000 GAM International Management Limited 02 00-00000-000 GAM London Limited GB 03 00-00000-000 Augustus Asset Managers Limited 04 00-00000-000 Swiss & Global Asset Management Ltd. Ins Type Name/Issuer Share Class CUSIP Valn Year and Qtr Invest Advisory Company No. Shares Current Value
Form 13F Information Table GAM USA Inc. Page 1 of 40 1 2 3 4 5 6 7 8 Mkt Value -Investment Discretion- Other --- Voting Authority --- Name of Issuer Type CUSIP $ x1000 # Shares Sole Shared Managers Sole Shared None 3M CO Com 88579Y101 13,404 169,690 0 0 169,690 04 169,690 0 0 ABB Ltd.-Spon ADR (1 Reps. 1 Reg.) Com 000375204 58 3,360 0 0 3,360 01 3,360 0 0 ABBOTT LABORATORIES Com 002824100 14,720 314,670 0 0 314,670 04 314,670 0 0 ABERCROMBIE & FITCH CO-CL A Com 002896207 666 21,700 0 0 21,700 04 21,700 0 0 ACADIA REALTY TRUST Com 004239109 182 10,850 0 0 10,850 04 10,850 0 0 Accenture Plc-Cl A Com. USD0.00002 Com G1151C101 19 480 0 0 480 01 480 0 0 ACCENTURE PLC-CL A Com G1151C101 448 11,600 0 0 11,600 04 11,600 0 0 ACTIVISION BLIZZARD INC Com 00507V109 110 10,500 0 0 10,500 04 10,500 0 0 ACXIOM CORP Com 005125109 1,175 80,000 0 0 80,000 04 80,000 0 0 ADOBE SYSTEMS INC Com 00724F101 2,424 91,700 0 0 91,700 04 91,700 0 0 ADVANCE AUTO PARTS INC Com 00751Y106 592 11,800 0 0 11,800 04 11,800 0 0 ADVANCED MICRO DEVICES Com 007903107 272 37,100 0 0 37,100 04 37,100 0 0 ADVISORY BOARD CO/THE Com 00762W107 709 16,500 0 0 16,500 04 16,500 0 0 AECOM TECHNOLOGY CORP Com 00766T100 173 7,500 0 0 7,500 04 7,500 0 0 AES CORP Com 00130H105 116 12,500 0 0 12,500 04 12,500 0 0 AETNA INC Com 00817Y108 1,530 58,000 0 0 58,000 04 58,000 0 0 AFLAC INC Com 001055102 2,816 66,000 0 0 66,000 04 66,000 0 0 AGCO CORP Com 001084102 173 6,400 0 0 6,400 04 6,400 0 0 AGCO Corporation Common USD0.01 Com 001084102 714 26,460 0 0 26,460 02 26,460 0 0 AGILENT TECHNOLOGIES INC Com 00846U101 748 26,300 0 0 26,300 04 26,300 0 0 AIR PRODUCTS & CHEMICALS INC Com 009158106 1,517 23,400 0 0 23,400 04 23,400 0 0 AIRGAS INC Com 009363102 93 1,500 0 0 1,500 04 1,500 0 0 AirTran Holdings Inc. Common USD0. Com 00949P108 286 59,170 0 0 59,170 02 59,170 0 0 AK STEEL HOLDING CORP Com 001547108 765 64,200 0 0 64,200 04 64,200 0 0 AKAMAI TECHNOLOGIES INC Com 00971T101 122 3,000 0 0 3,000 04 3,000 0 0 --------- 43,831 Form 13F Information Table GAM USA Inc. Page 2 of 40 1 2 3 4 5 6 7 8 Mkt Value -Investment Discretion- Other --- Voting Authority --- Name of Issuer Type CUSIP $ x1000 # Shares Sole Shared Managers Sole Shared None ALASKA AIR GROUP INC Com 011659109 225 5,000 0 0 5,000 04 5,000 0 0 Alcatel-Lucent Spons ADR (1 ADR Re Com 013904305 39 15,230 0 0 15,230 01 15,230 0 0 ALCOA INC Com 013817101 3,284 326,400 0 0 326,400 04 326,400 0 0 ALEXION PHARMACEUTICALS INC Com 015351109 681 13,300 0 0 13,300 04 13,300 0 0 ALLEGHENY ENERGY INC Com 017361106 62 3,000 0 0 3,000 04 3,000 0 0 ALLEGHENY TECHNOLOGIES INC Com 01741R102 376 8,500 0 0 8,500 04 8,500 0 0 ALLERGAN INC Com 018490102 2,068 35,490 0 0 35,490 04 35,490 0 0 ALLIANCE DATA SYSTEMS CORP Com 018581108 65 1,100 0 0 1,100 04 1,100 0 0 Alliance Data Systems Corp. Com. U Com 018581108 2,276 38,250 0 0 38,250 02 01 38,250 0 0 ALLSTATE CORP Com 020002101 1,135 39,500 0 0 39,500 04 39,500 0 0 ALPHA NATURAL RESOURCES INC Com 02076X102 2,459 72,600 0 0 72,600 04 72,600 0 0 ALTERA CORPORATION Com 021441100 144 5,800 0 0 5,800 04 5,800 0 0 ALTRIA GROUP INC Com 02209S103 8,386 418,450 0 0 418,450 04 418,450 0 0 AMAZON.COM INC Com 023135106 896 8,200 0 0 8,200 04 8,200 0 0 AMB PROPERTY CORP Com 00163T109 2,232 94,158 0 0 94,158 04 94,158 0 0 Amdocs Limited Ordinary GBP0.0001 Com G02602103 102 3,800 0 0 3,800 01 3,800 0 0 AMEREN CORPORATION Com 023608102 1,809 76,090 0 0 76,090 04 76,090 0 0 AMERICA MOVIL-ADR SERIES L Com 02364W105 1,414 29,762 0 0 29,762 04 29,762 0 0 America Movil-ADR SL NPV(1 Rep 20 Com 02364W105 983 20,700 0 0 20,700 01 20,700 0 0 America Movil-ADR SL NPV(1 Rep 20 Com 02364W105 568 11,700 0 0 11,700 01 11,700 0 0 American Campus Communities Com. U Com 024835100 475 17,420 0 0 17,420 02 17,420 0 0 AMERICAN CAMPUS COMMUNITIES Com 024835100 306 11,229 0 0 11,229 04 11,229 0 0 AMERICAN EAGLE OUTFITTERS Com 02553E106 43 3,650 0 0 3,650 04 3,650 0 0 AMERICAN ELECTRIC POWER Com 025537101 1,474 45,620 0 0 45,620 04 45,620 0 0 AMERICAN EXPRESS CO Com 025816109 4,604 115,970 0 0 115,970 04 115,970 0 0 --------- 36,103 Form 13F Information Table GAM USA Inc. Page 3 of 40 1 2 3 4 5 6 7 8 Mkt Value -Investment Discretion- Other --- Voting Authority --- Name of Issuer Type CUSIP $ x1000 # Shares Sole Shared Managers Sole Shared None American Express Company Common US Com 025816109 38 950 0 0 950 01 950 0 0 AMERICAN INTERNATIONAL GROUP Com 026874784 71 2,050 0 0 2,050 04 2,050 0 0 AMERICAN PUBLIC EDUCATION Com 02913V103 546 12,500 0 0 12,500 04 12,500 0 0 American Railcar Industries Common Com 02916P103 287 23,790 0 0 23,790 02 23,790 0 0 AMERICAN SUPERCONDUCTOR CORP Com 030111108 400 15,000 0 0 15,000 04 15,000 0 0 AMERICAN TOWER CORP-CL A Com 029912201 2,114 47,500 0 0 47,500 04 47,500 0 0 American Tower Corp. Cls. A Com. U Com 029912201 22 500 0 0 500 01 500 0 0 AMERIPRISE FINANCIAL INC Com 03076C106 1,066 29,500 0 0 29,500 04 29,500 0 0 AMERISOURCEBERGEN CORP Com 03073E105 168 5,300 0 0 5,300 04 5,300 0 0 AMETEK INC Com 031100100 76 1,900 0 0 1,900 04 1,900 0 0 AMGEN INC Com 031162100 12,467 237,020 0 0 237,020 04 237,020 0 0 AMPHENOL CORP-CL A Com 032095101 118 3,000 0 0 3,000 04 3,000 0 0 AMR CORP Com 001765106 542 80,000 0 0 80,000 04 80,000 0 0 AMYLIN PHARMACEUTICALS INC Com 032346108 451 24,000 0 0 24,000 04 24,000 0 0 ANADARKO PETROLEUM CORP Com 032511107 3,829 106,090 0 0 106,090 04 106,090 0 0 ANALOG DEVICES INC Com 032654105 839 30,100 0 0 30,100 04 30,100 0 0 ANGIODYNAMICS INC Com 03475V101 148 10,000 0 0 10,000 04 10,000 0 0 ANNALY CAPITAL MANAGEMENT IN Com 035710409 180 10,500 0 0 10,500 04 10,500 0 0 AOL INC Com 00184X105 15 702 0 0 702 04 702 0 0 AOL Inc. Com. USD0.01 Com 00184X105 360 17,300 0 0 17,300 01 17,300 0 0 AON CORP Com 037389103 171 4,600 0 0 4,600 04 4,600 0 0 APACHE CORP Com 037411105 7,040 83,622 0 0 83,622 04 83,622 0 0 APARTMENT INVT & MGMT CO -A Com 03748R101 515 26,605 0 0 26,605 04 26,605 0 0 APOLLO GROUP INC-CL A Com 037604105 2,054 48,360 0 0 48,360 04 48,360 0 0 APPLE INC Com 037833100 39,500 157,040 0 0 157,040 04 157,040 0 0 --------- 73,017 Form 13F Information Table GAM USA Inc. Page 4 of 40 1 2 3 4 5 6 7 8 Mkt Value -Investment Discretion- Other --- Voting Authority --- Name of Issuer Type CUSIP $ x1000 # Shares Sole Shared Managers Sole Shared None Apple Incorporated Common NPV Com 037833100 5,272 20,900 0 0 20,900 01 20,900 0 0 APPLIED MATERIALS INC Com 038222105 2,164 180,010 0 0 180,010 04 180,010 0 0 ARCELORMITTAL SA LUXEMBOURG NOTE 5 Bond 03938LAK0 3,930 5,000,000 0 0 5,000,000 03 5,000,000 0 0 ARCH COAL INC Com 039380100 59 3,000 0 0 3,000 04 3,000 0 0 ARCHER-DANIELS-MIDLAND CO Com 039483102 1,978 76,600 0 0 76,600 04 76,600 0 0 ARROW ELECTRONICS INC Com 042735100 47 2,100 0 0 2,100 04 2,100 0 0 ARUBA NETWORKS INC Com 043176106 356 25,000 0 0 25,000 04 25,000 0 0 ASSURANT INC Com 04621X108 66 1,900 0 0 1,900 04 1,900 0 0 ASTEC INDUSTRIES INC Com 046224101 216 7,800 0 0 7,800 04 7,800 0 0 Astec Industries Inc. Common USD0. Com 046224101 743 26,760 0 0 26,760 02 26,760 0 0 AT&T INC Com 00206R102 28,496 1,177,993 0 0 1,177,993 04 1,177,993 0 0 AUTODESK INC Com 052769106 97 4,000 0 0 4,000 04 4,000 0 0 Autodesk Inc. Common USD0.01 Com 052769106 48 1,980 0 0 1,980 01 1,980 0 0 Automatic Data Processing Com. USD Com 053015103 44 1,100 0 0 1,100 01 1,100 0 0 AUTOMATIC DATA PROCESSING Com 053015103 6,113 151,840 0 0 151,840 04 151,840 0 0 AUTONATION INC Com 05329W102 43 2,200 0 0 2,200 04 2,200 0 0 AUTOZONE INC Com 053332102 2,512 13,000 0 0 13,000 04 13,000 0 0 AutoZone Incorporated Common USD0. Com 053332102 5,412 28,000 0 0 28,000 01 28,000 0 0 AUXILIUM PHARMACEUTICALS INC Com 05334D107 153 6,500 0 0 6,500 04 6,500 0 0 AVALONBAY COMMUNITIES INC Com 053484101 5,246 56,183 0 0 56,183 04 56,183 0 0 Avalonbay Communities Inc. Com. US Com 053484101 597 6,390 0 0 6,390 02 6,390 0 0 AVERY DENNISON CORP Com 053611109 64 2,000 0 0 2,000 04 2,000 0 0 AVNET INC Com 053807103 68 2,800 0 0 2,800 04 2,800 0 0 AVON PRODUCTS INC Com 054303102 209 7,900 0 0 7,900 04 7,900 0 0 BAKER HUGHES INC Com 057224107 2,901 69,792 0 0 69,792 04 69,792 0 0 Baker Hughes Inc. Common USD1.00 Com 057224107 1,064 25,600 0 0 25,600 02 25,600 0 0 --------- 67,899 Form 13F Information Table GAM USA Inc. Page 5 of 40 1 2 3 4 5 6 7 8 Mkt Value -Investment Discretion- Other --- Voting Authority --- Name of Issuer Type CUSIP $ x1000 # Shares Sole Shared Managers Sole Shared None Baker Hughes Inc. Common USD1.00 Com 057224107 47 1,120 0 0 1,120 01 1,120 0 0 BALL CORP Com 058498106 95 1,800 0 0 1,800 04 1,800 0 0 BANCO BRADESCO-ADR Com 059460303 3,156 199,000 0 0 199,000 04 199,000 0 0 BANCO SANTANDER-CHILE-ADR Com 05965X109 444 6,611 0 0 6,611 04 6,611 0 0 BANK OF AMERICA CORP Com 060505104 24,500 1,599,225 0 0 1,599,225 04 1,599,225 0 0 Bank of America Corp. Common USD0. Com 060505104 418 28,683 0 0 28,683 01 28,683 0 0 BANK OF NEW YORK MELLON CORP Com 064058100 7,884 319,326 0 0 319,326 04 319,326 0 0 Bank of NY Mellon Corp. Com. USD0. Com 064058100 62 2,510 0 0 2,510 01 2,510 0 0 BAXTER INTERNATIONAL INC Com 071813109 9,157 225,310 0 0 225,310 04 225,310 0 0 Baxter International Inc. Common U Com 071813109 30 750 0 0 750 01 750 0 0 BB&T CORP Com 054937107 4,091 155,500 0 0 155,500 04 155,500 0 0 BECKMAN COULTER INC Com 075811109 121 2,000 0 0 2,000 04 2,000 0 0 Becton Dickinson & Co. Common USD1 Com 075887109 44 650 0 0 650 01 650 0 0 BECTON DICKINSON AND CO Com 075887109 10,782 159,450 0 0 159,450 04 159,450 0 0 BED BATH & BEYOND INC Com 075896100 178 4,800 0 0 4,800 04 4,800 0 0 BEMIS COMPANY Com 081437105 540 20,000 0 0 20,000 04 20,000 0 0 BERKSHIRE HATHAWAY INC-CL A Com 084670108 2,160 18 0 0 18 04 18 0 0 BEST BUY CO INC Com 086516101 1,056 31,200 0 0 31,200 04 31,200 0 0 BHP BILLITON LTD-SPON ADR Com 088606108 609 9,820 0 0 9,820 04 9,820 0 0 BIOGEN IDEC INC Com 09062X103 4,873 102,690 0 0 102,690 04 102,690 0 0 BIOMARIN PHARMACEUTICAL INC Com 09061G101 548 28,880 0 0 28,880 04 28,880 0 0 BLACKROCK INC Com 09247X101 1,965 13,700 0 0 13,700 04 13,700 0 0 BMC SOFTWARE INC Com 055921100 803 23,200 0 0 23,200 04 23,200 0 0 BOEING CO Com 097023105 6,311 100,570 0 0 100,570 04 100,570 0 0 Boeing Co. Common USD5 Com 097023105 359 5,700 0 0 5,700 01 5,700 0 0 --------- 80,232 Form 13F Information Table GAM USA Inc. Page 6 of 40 1 2 3 4 5 6 7 8 Mkt Value -Investment Discretion- Other --- Voting Authority --- Name of Issuer Type CUSIP $ x1000 # Shares Sole Shared Managers Sole Shared None Boeing Co. Common USD5 Com 097023105 37 590 0 0 590 01 590 0 0 BORGWARNER INC Com 099724106 75 2,000 0 0 2,000 04 2,000 0 0 BOSTON PROPERTIES INC Com 101121101 5,896 82,640 0 0 82,640 04 82,640 0 0 BOSTON SCIENTIFIC CORP Com 101137107 2,789 480,780 0 0 480,780 04 480,780 0 0 Boston Scientific Corp. Common USD Com 101137107 5,601 964,800 0 0 964,800 01 964,800 0 0 Boston Scientific Corp. Common USD Com 101137107 18,679 3,218,300 0 0 3,218,300 02 3,218,300 0 0 Boston Scientific Corp. Common USD Com 101137107 31 5,280 0 0 5,280 01 5,280 0 0 BP PLC-SPONS ADR Com 055622104 754 26,100 0 0 26,100 04 26,100 0 0 BPZ RESOURCES INC Com 055639108 333 80,179 0 0 80,179 04 80,179 0 0 BRANDYWINE REALTY TRUST Com 105368203 315 29,300 0 0 29,300 04 29,300 0 0 BRE PROPERTIES INC Com 05564E106 484 13,100 0 0 13,100 04 13,100 0 0 BRIDGEPOINT EDUCATION INC Com 10807M105 316 20,000 0 0 20,000 04 20,000 0 0 BRIGGS & STRATTON Com 109043109 340 20,000 0 0 20,000 04 20,000 0 0 BRISTOL-MYERS SQUIBB CO Com 110122108 9,695 388,728 0 0 388,728 04 388,728 0 0 Bristol-Myers Squibb Co. Common US Com 110122108 11,164 447,650 0 0 447,650 01 447,650 0 0 Bristol-Myers Squibb Co. Common US Com 110122108 37,876 1,518,790 0 0 1,518,790 02 1,518,790 0 0 BROADCOM CORP-CL A Com 111320107 560 17,000 0 0 17,000 04 17,000 0 0 BUCYRUS INTERNATIONAL INC Com 118759109 1,566 33,000 0 0 33,000 04 33,000 0 0 Bucyrus Intl. Inc. Common USD0.01 Com 118759109 585 12,340 0 0 12,340 02 12,340 0 0 BUNGE LTD Com G16962105 3,837 78,000 0 0 78,000 04 78,000 0 0 Bunge Ltd. Common USD0.01 Com G16962105 2,738 55,650 0 0 55,650 02 01 55,650 0 0 C.H. ROBINSON WORLDWIDE INC Com 12541W209 1,280 23,000 0 0 23,000 04 23,000 0 0 CA INC Com 12673P105 1,054 57,300 0 0 57,300 04 57,300 0 0 CABLEVISION SYSTEMS-NY GRP-A Com 12686C109 108 4,500 0 0 4,500 04 4,500 0 0 Cablevision Systems Corp. Class A Com 12686C109 752 31,300 0 0 31,300 01 31,300 0 0 --------- 106,864 Form 13F Information Table GAM USA Inc. Page 7 of 40 1 2 3 4 5 6 7 8 Mkt Value -Investment Discretion- Other --- Voting Authority --- Name of Issuer Type CUSIP $ x1000 # Shares Sole Shared Managers Sole Shared None Cablevision Systems Corp. Class A Com 12686C109 6,365 265,000 0 0 265,000 01 265,000 0 0 CABOT OIL & GAS CORP Com 127097103 689 22,000 0 0 22,000 04 22,000 0 0 CALPINE CORP Com 131347304 78 6,100 0 0 6,100 04 6,100 0 0 CAMDEN PROPERTY TRUST Com 133131102 1,985 48,600 0 0 48,600 04 48,600 0 0 Cameco Corporation USD Common NPV Com 13321L108 266 12,490 0 0 12,490 02 12,490 0 0 Cameco Corporation USD Common NPV Com 13321L108 18 830 0 0 830 01 830 0 0 CAMERON INTERNATIONAL CORP Com 13342B105 722 22,210 0 0 22,210 04 22,210 0 0 CAMPBELL SOUP CO Com 134429109 129 3,600 0 0 3,600 04 3,600 0 0 Canadian National Railway Company Com 136375102 21 360 0 0 360 01 360 0 0 CAPITAL ONE FINANCIAL CORP Com 14040H105 3,528 87,555 0 0 87,555 04 87,555 0 0 CARDINAL HEALTH INC Com 14149Y108 2,329 69,290 0 0 69,290 04 69,290 0 0 CAREFUSION CORP Com 14170T101 3,579 157,650 0 0 157,650 04 157,650 0 0 Carefusion Corp. Common USD0.01 Com 14170T101 2,271 100,000 0 0 100,000 01 100,000 0 0 CARMAX INC Com 143130102 84 4,200 0 0 4,200 04 4,200 0 0 CARNIVAL CORP Com 143658300 3,429 113,400 0 0 113,400 04 113,400 0 0 Carnival Corporation Common USD0.0 Com 143658300 45 1,500 0 0 1,500 01 1,500 0 0 CATERPILLAR INC Com 149123101 5,205 86,660 0 0 86,660 04 86,660 0 0 Caterpillar Inc. Common USD1.00 Com 149123101 304 5,000 0 0 5,000 01 5,000 0 0 CB RICHARD ELLIS GROUP INC-A Com 12497T101 2,723 200,100 0 0 200,100 04 200,100 0 0 CBS CORP-CLASS B NON VOTING Com 124857202 144 11,100 0 0 11,100 04 11,100 0 0 CEMIG SA -SPONS ADR Com 204409601 3,319 226,270 0 0 226,270 04 226,270 0 0 CF INDUSTRIES HOLDINGS INC Com 125269100 7,754 122,200 0 0 122,200 04 122,200 0 0 CHART INDUSTRIES INC Com 16115Q308 469 30,100 0 0 30,100 04 30,100 0 0 CHECK POINT SOFTWARE TECH Com M22465104 342 11,600 0 0 11,600 04 11,600 0 0 CHESAPEAKE ENERGY CORP Com 165167107 1,737 82,900 0 0 82,900 04 82,900 0 0 CHEVRON CORP Com 166764100 30,232 445,500 0 0 445,500 04 445,500 0 0 --------- 77,767 Form 13F Information Table GAM USA Inc. Page 8 of 40 1 2 3 4 5 6 7 8 Mkt Value -Investment Discretion- Other --- Voting Authority --- Name of Issuer Type CUSIP $ x1000 # Shares Sole Shared Managers Sole Shared None CHINA LIFE INSURANCE CO-ADR Com 16939P106 934 14,332 0 0 14,332 04 14,332 0 0 CHINA MOBILE LTD-SPON ADR Com 16941M109 1,288 26,075 0 0 26,075 04 26,075 0 0 CHINA TELECOM CORP LTD-ADR Com 169426103 140 2,926 0 0 2,926 04 2,926 0 0 Christopher & Banks Corp. Common U Com 171046105 465 75,000 0 0 75,000 01 75,000 0 0 CHUBB CORP Com 171232101 5,066 101,300 0 0 101,300 04 101,300 0 0 Chubb Corporation Common USD1.00 Com 171232101 5,252 105,000 0 0 105,000 01 105,000 0 0 CHURCH & DWIGHT CO INC Com 171340102 1,235 19,700 0 0 19,700 04 19,700 0 0 CIA BRASILEIRA-SP ADR PREF A ADR 20440T201 956 13,750 0 0 13,750 04 13,750 0 0 CIA PARANAENSE ENER-SP ADR P ADR 20441B407 204 9,872 0 0 9,872 04 9,872 0 0 CIA SIDERURGICA NACL-SP ADR Com 20440W105 1,175 80,000 0 0 80,000 04 80,000 0 0 CIGNA CORP Com 125509109 152 4,900 0 0 4,900 04 4,900 0 0 CIMAREX ENERGY CO Com 171798101 1,408 19,670 0 0 19,670 04 19,670 0 0 CINTAS CORP Com 172908105 566 23,600 0 0 23,600 04 23,600 0 0 CISCO SYSTEMS INC Com 17275R102 28,526 1,338,610 0 0 1,338,610 04 1,338,610 0 0 Cisco Systems Inc. Common USD0.001 Com 17275R102 396 18,300 0 0 18,300 01 18,300 0 0 Cisco Systems Inc. Common USD0.001 Com 17275R102 45 2,110 0 0 2,110 01 2,110 0 0 CITIGROUP INC Com 172967101 12,983 3,453,030 0 0 3,453,030 04 3,453,030 0 0 Citigroup Incorporated Common USD0 Com 172967101 7,365 1,958,850 0 0 1,958,850 01 1,958,850 0 0 Citigroup Incorporated Common USD0 Com 172967101 24,979 6,646,800 0 0 6,646,800 02 6,646,800 0 0 CITRIX SYSTEMS INC Com 177376100 992 23,500 0 0 23,500 04 23,500 0 0 CLAYMORE/MAC GLBL SOLAR ENRG Com 18383M621 645 100,000 0 0 100,000 04 100,000 0 0 Clearwire Corp. Class A Com. USD0. Com 18538Q105 337 46,350 0 0 46,350 02 01 46,350 0 0 CLOROX COMPANY Com 189054109 1,703 27,400 0 0 27,400 04 27,400 0 0 CLOUD PEAK ENERGY INC Com 18911Q102 729 55,000 0 0 55,000 04 55,000 0 0 CNOOC LTD-ADR Com 126132109 162 954 0 0 954 04 954 0 0 --------- 97,706 Form 13F Information Table GAM USA Inc. Page 9 of 40 1 2 3 4 5 6 7 8 Mkt Value -Investment Discretion- Other --- Voting Authority --- Name of Issuer Type CUSIP $ x1000 # Shares Sole Shared Managers Sole Shared None COACH INC Com 189754104 6,839 187,100 0 0 187,100 04 187,100 0 0 COBALT INTERNATIONAL ENERGY Com 19075F106 217 29,100 0 0 29,100 04 29,100 0 0 COCA-COLA CO/THE Com 191216100 20,577 410,550 0 0 410,550 04 410,550 0 0 Coca-Cola Company Common USD0.25 Com 191216100 33 650 0 0 650 01 650 0 0 Coca-Cola Enterprises Inc. Com. US Com 191219104 248 9,600 0 0 9,600 01 9,600 0 0 COCA-COLA ENTERPRISES Com 191219104 129 5,000 0 0 5,000 04 5,000 0 0 COGNIZANT TECH SOLUTIONS-A Com 192446102 270 5,400 0 0 5,400 04 5,400 0 0 COINSTAR INC Com 19259P300 206 4,800 0 0 4,800 04 4,800 0 0 COLGATE-PALMOLIVE CO Com 194162103 3,187 40,460 0 0 40,460 04 40,460 0 0 COLONIAL PROPERTIES TRUST Com 195872106 245 16,860 0 0 16,860 04 16,860 0 0 COMCAST CORP-CLASS A Com 20030N101 7,499 431,750 0 0 431,750 04 431,750 0 0 COMCAST CORP-SPECIAL CL A Com 20030N200 415 25,257 0 0 25,257 04 25,257 0 0 COMERICA INC Com 200340107 433 11,750 0 0 11,750 04 11,750 0 0 COMMVAULT SYSTEMS INC Com 204166102 563 25,000 0 0 25,000 04 25,000 0 0 COMPANHIA DE BEBIDAS-PRF ADR Com 20441W203 2,263 22,400 0 0 22,400 04 22,400 0 0 Companhia de Bebidas Prf. ADR (1 R Com 20441W203 21 210 0 0 210 01 210 0 0 COMPUTER SCIENCES CORP Com 205363104 810 17,900 0 0 17,900 04 17,900 0 0 CONAGRA FOODS INC Com 205887102 189 8,100 0 0 8,100 04 8,100 0 0 Conns Inc Common USD0.01 Com 208242107 3,666 625,000 0 0 625,000 01 625,000 0 0 ConocoPhillips Common USD1.250 Com 20825C104 186 3,800 0 0 3,800 01 3,800 0 0 ConocoPhillips Common USD1.250 Com 20825C104 4,907 100,000 0 0 100,000 01 100,000 0 0 CONOCOPHILLIPS Com 20825C104 16,590 337,950 0 0 337,950 04 337,950 0 0 CONSOL ENERGY INC Com 20854P109 6,380 188,967 0 0 188,967 04 188,967 0 0 CONSOLIDATED EDISON INC Com 209115104 2,180 50,570 0 0 50,570 04 50,570 0 0 Consolidated Tomoka Land Common US Com 210226106 172 6,000 0 0 6,000 01 6,000 0 0 --------- 78,222 Form 13F Information Table GAM USA Inc. Page 10 of 40 1 2 3 4 5 6 7 8 Mkt Value -Investment Discretion- Other --- Voting Authority --- Name of Issuer Type CUSIP $ x1000 # Shares Sole Shared Managers Sole Shared None CONSTELLATION BRANDS INC-A Com 21036P108 367 23,500 0 0 23,500 04 23,500 0 0 CONSTELLATION ENERGY GROUP Com 210371100 110 3,400 0 0 3,400 04 3,400 0 0 CONTINENTAL AIRLINES-CLASS B Com 210795308 656 29,800 0 0 29,800 04 29,800 0 0 Copa Holdings SA Class A Com. NPV Com P31076105 406 9,170 0 0 9,170 02 9,170 0 0 CORNING INC Com 219350105 7,931 491,100 0 0 491,100 04 491,100 0 0 CORRECTIONS CORP OF AMERICA Com 22025Y407 506 26,500 0 0 26,500 04 26,500 0 0 COSTCO WHOLESALE CORP Com 22160K105 6,898 125,800 0 0 125,800 04 125,800 0 0 COVANCE INC Com 222816100 67 1,300 0 0 1,300 04 1,300 0 0 COVANTA HOLDING CORP Com 22282E102 1,443 87,000 0 0 87,000 04 87,000 0 0 COVENTRY HEALTH CARE INC Com 222862104 46 2,600 0 0 2,600 04 2,600 0 0 Covidien PLC Common USD0.20 Com G2554F105 26 640 0 0 640 01 640 0 0 COVIDIEN PLC Com G2554F105 4,510 112,250 0 0 112,250 04 112,250 0 0 CR BARD INC Com 067383109 4,453 57,440 0 0 57,440 04 57,440 0 0 Credicorp Ltd. Common USD5.00 Com G2519Y108 1,610 17,700 0 0 17,700 01 17,700 0 0 CREE INC Com 225447101 108 1,800 0 0 1,800 04 1,800 0 0 CROWN CASTLE INTL CORP Com 228227104 201 5,400 0 0 5,400 04 5,400 0 0 Crown Castle Intl. Corp. Common US Com 228227104 42 1,120 0 0 1,120 01 1,120 0 0 CROWN HOLDINGS INC Com 228368106 65 2,600 0 0 2,600 04 2,600 0 0 CSX CORP Com 126408103 2,750 55,410 0 0 55,410 04 55,410 0 0 CUMMINS INC Com 231021106 1,663 25,530 0 0 25,530 04 25,530 0 0 CVS CAREMARK CORP Com 126650100 10,842 369,785 0 0 369,785 04 369,785 0 0 DANAHER CORP Com 235851102 4,595 123,800 0 0 123,800 04 123,800 0 0 DARDEN RESTAURANTS INC Com 237194105 97 2,500 0 0 2,500 04 2,500 0 0 DEAN FOODS CO Com 242370104 437 43,400 0 0 43,400 04 43,400 0 0 DEERE & CO Com 244199105 3,057 54,910 0 0 54,910 04 54,910 0 0 --------- 52,886 Form 13F Information Table GAM USA Inc. Page 11 of 40 1 2 3 4 5 6 7 8 Mkt Value -Investment Discretion- Other --- Voting Authority --- Name of Issuer Type CUSIP $ x1000 # Shares Sole Shared Managers Sole Shared None DELL INC Com 24702R101 3,637 301,600 0 0 301,600 04 301,600 0 0 DELTA AIR LINES INC Com 247361702 508 43,200 0 0 43,200 04 43,200 0 0 DENBURY RESOURCES INC Com 247916208 1,660 113,387 0 0 113,387 04 113,387 0 0 DENDREON CORP Com 24823Q107 420 13,000 0 0 13,000 04 13,000 0 0 DENTSPLY INTERNATIONAL INC Com 249030107 667 22,300 0 0 22,300 04 22,300 0 0 DEVON ENERGY CORPORATION Com 25179M103 9,216 151,280 0 0 151,280 04 151,280 0 0 DEVRY INC Com 251893103 436 8,300 0 0 8,300 04 8,300 0 0 DIAMOND OFFSHORE DRILLING Com 25271C102 1,144 18,400 0 0 18,400 04 18,400 0 0 DIAMONDROCK HOSPITALITY CO Com 252784301 220 26,743 0 0 26,743 04 26,743 0 0 Dick's Sporting Goods Inc. Com. US Com 253393102 19 780 0 0 780 01 780 0 0 DIRECTV-CLASS A Com 25490A101 2,096 61,801 0 0 61,801 04 61,801 0 0 DIRECTV Class A Com. USD0.01 Com 25490A101 1,584 46,700 0 0 46,700 01 46,700 0 0 DISCOVERY COMMUNICATIONS-A Com 25470F104 82 2,300 0 0 2,300 04 2,300 0 0 DISCOVERY COMMUNICATIONS-C Com 25470F302 93 3,000 0 0 3,000 04 3,000 0 0 Discovery Communications A Com. US Com 25470F104 19 520 0 0 520 01 520 0 0 DISH NETWORK CORP-A Com 25470M109 64 3,500 0 0 3,500 04 3,500 0 0 DOMINION RESOURCES INC/VA Com 25746U109 3,669 94,700 0 0 94,700 04 94,700 0 0 DOVER CORP Com 260003108 974 23,300 0 0 23,300 04 23,300 0 0 DOW CHEMICAL Com 260543103 5,478 230,960 0 0 230,960 04 230,960 0 0 DR HORTON INC Com 23331A109 438 44,600 0 0 44,600 04 44,600 0 0 DR PEPPER SNAPPLE GROUP INC Com 26138E109 542 14,500 0 0 14,500 04 14,500 0 0 DTE ENERGY COMPANY Com 233331107 146 3,200 0 0 3,200 04 3,200 0 0 Du Pont (E.I.) De Nemours USD0.30 Com 263534109 7,171 207,215 0 0 207,215 01 207,215 0 0 Du Pont (E.I.) De Nemours USD0.30 Com 263534109 24,520 708,640 0 0 708,640 02 708,640 0 0 DU PONT (E.I.) DE NEMOURS Com 263534109 3,673 106,200 0 0 106,200 04 106,200 0 0 --------- 68,476 Form 13F Information Table GAM USA Inc. Page 12 of 40 1 2 3 4 5 6 7 8 Mkt Value -Investment Discretion- Other --- Voting Authority --- Name of Issuer Type CUSIP $ x1000 # Shares Sole Shared Managers Sole Shared None DUKE REALTY CORP Com 264411505 630 55,501 0 0 55,501 04 55,501 0 0 DUN & BRADSTREET CORP Com 26483E100 54 800 0 0 800 04 800 0 0 Duoyuan Glb. Water Inc. ADR(1 Rep Com 266043108 396 22,440 0 0 22,440 02 22,440 0 0 EASTMAN CHEMICAL COMPANY Com 277432100 219 4,100 0 0 4,100 04 4,100 0 0 Eastman Kodak Company Common USD2. Com 277461109 3,721 856,340 0 0 856,340 01 856,340 0 0 Eastman Kodak Company Common USD2. Com 277461109 12,442 2,864,045 0 0 2,864,045 02 2,864,045 0 0 EATON CORP Com 278058102 838 12,800 0 0 12,800 04 12,800 0 0 EATON VANCE CORP Com 278265103 64 2,300 0 0 2,300 04 2,300 0 0 EBAY INC Com 278642103 4,406 224,680 0 0 224,680 04 224,680 0 0 eBay Incorporated Common USD0.001 Com 278642103 3,821 194,800 0 0 194,800 01 194,800 0 0 eBay Incorporated Common USD0.001 Com 278642103 12,651 645,000 0 0 645,000 02 645,000 0 0 ECOLAB INC Com 278865100 3,907 87,000 0 0 87,000 04 87,000 0 0 EDISON INTERNATIONAL Com 281020107 1,757 55,400 0 0 55,400 04 55,400 0 0 EDUCATION REALTY TRUST INC Com 28140H104 70 11,600 0 0 11,600 04 11,600 0 0 Education Realty Trust Inc. Com. U Com 28140H104 435 72,230 0 0 72,230 02 72,230 0 0 EDWARDS LIFESCIENCES CORP Com 28176E108 112 2,000 0 0 2,000 04 2,000 0 0 EL PASO CORP Com 28336L109 1,822 164,000 0 0 164,000 04 164,000 0 0 EL Paso Corporation Common USD3.00 Com 28336L109 40,606 3,654,863 0 0 3,654,863 01 3,654,863 0 0 EL Paso Corporation Common USD3.00 Com 28336L109 82,815 7,455,308 0 0 7,455,308 02 7,455,308 0 0 ELECTRONIC ARTS INC Com 285512109 1,620 112,500 0 0 112,500 04 112,500 0 0 ELI LILLY & CO Com 532457108 3,183 95,020 0 0 95,020 04 95,020 0 0 EMC Corp/Mass Common USD0.01 Com 268648102 58 3,150 0 0 3,150 01 3,150 0 0 EMC CORP/MASS Com 268648102 5,966 326,020 0 0 326,020 04 326,020 0 0 EMERSON ELECTRIC CO Com 291011104 6,513 149,080 0 0 149,080 04 149,080 0 0 Empresa Brasileira ADR (1 Rep 4 Or Com 29081M102 30 1,420 0 0 1,420 01 1,420 0 0 --------- 188,134 Form 13F Information Table GAM USA Inc. Page 13 of 40 1 2 3 4 5 6 7 8 Mkt Value -Investment Discretion- Other --- Voting Authority --- Name of Issuer Type CUSIP $ x1000 # Shares Sole Shared Managers Sole Shared None EMPRESA BRASILEIRA DE AE-ADR Com 29081M102 461 22,000 0 0 22,000 04 22,000 0 0 ENDO PHARMACEUT HLDGS INC Com 29264F205 290 13,310 0 0 13,310 04 13,310 0 0 ENERGIZER HOLDINGS INC Com 29266R108 1,388 27,600 0 0 27,600 04 27,600 0 0 ENERGY SELECT SECTOR SPDR Com 81369Y506 1,987 40,000 0 0 40,000 04 40,000 0 0 Enova Systems Inc. Ord. NPV Com 29355M200 474 453,305 0 0 453,305 01 453,305 0 0 Enova Systems Inc. Ord. NPV Com 29355M200 1,110 1,060,970 0 0 1,060,970 02 1,060,970 0 0 ENTERGY CORP Com 29364G103 1,676 23,400 0 0 23,400 04 23,400 0 0 EOG RESOURCES INC Com 26875P101 2,420 24,600 0 0 24,600 04 24,600 0 0 EQUIFAX INC Com 294429105 70 2,500 0 0 2,500 04 2,500 0 0 EQUITY ONE INC Com 294752100 134 8,600 0 0 8,600 04 8,600 0 0 Equity Residential Com. USD0.01 Com 29476L107 596 14,300 0 0 14,300 02 14,300 0 0 EQUITY RESIDENTIAL Com 29476L107 7,349 176,500 0 0 176,500 04 176,500 0 0 ESSEX PROPERTY TRUST INC Com 297178105 1,678 17,200 0 0 17,200 04 17,200 0 0 ESTEE LAUDER COMPANIES-CL A Com 518439104 2,447 43,900 0 0 43,900 04 43,900 0 0 ETF Currency Shares Aus Dollar Tru Com 23129U101 96 1,138 0 0 1,138 01 1,138 0 0 EXELON CORP Com 30161N101 6,089 160,370 0 0 160,370 04 160,370 0 0 Exelon Corporation Common NPV Com 30161N101 3,141 82,740 0 0 82,740 02 01 82,740 0 0 EXPEDIA INC Com 30212P105 346 18,400 0 0 18,400 04 18,400 0 0 EXPEDITORS INTL WASH INC Com 302130109 124 3,600 0 0 3,600 04 3,600 0 0 EXPRESS SCRIPTS INC Com 302182100 1,156 24,580 0 0 24,580 04 24,580 0 0 EXXON MOBIL CORP Com 30231G102 46,401 813,054 0 0 813,054 04 813,054 0 0 Exxon Mobil Corp. Com. NPV Com 30231G102 258 4,510 0 0 4,510 01 4,510 0 0 F5 NETWORKS INC Com 315616102 103 1,500 0 0 1,500 04 1,500 0 0 FAMILY DOLLAR STORES Com 307000109 2,092 55,500 0 0 55,500 04 55,500 0 0 FASTENAL CO Com 311900104 763 15,200 0 0 15,200 04 15,200 0 0 --------- 82,649 Form 13F Information Table GAM USA Inc. Page 14 of 40 1 2 3 4 5 6 7 8 Mkt Value -Investment Discretion- Other --- Voting Authority --- Name of Issuer Type CUSIP $ x1000 # Shares Sole Shared Managers Sole Shared None FEDERAL REALTY INVS TRUST Com 313747206 3,366 47,900 0 0 47,900 04 47,900 0 0 FEDEX CORP Com 31428X106 3,999 57,040 0 0 57,040 04 57,040 0 0 FedEx Corporation Common USD0.10 Com 31428X106 320 4,560 0 0 4,560 02 4,560 0 0 FedEx Corporation Common USD0.10 Com 31428X106 31 440 0 0 440 01 440 0 0 FELCOR LODGING TRUST INC Com 31430F101 123 24,720 0 0 24,720 04 24,720 0 0 Ferro Corp. 6.5% Cv. 15-08-2013 Bond 315405AL4 1,938 2,000,000 0 0 2,000,000 01 2,000,000 0 0 FIFTH THIRD BANCORP Com 316773100 985 80,180 0 0 80,180 04 80,180 0 0 FINANCIAL SELECT SECTOR SPDR Com 81369Y605 10,838 784,800 0 0 784,800 04 784,800 0 0 FIRST HORIZON NATIONAL CORP Com 320517105 506 44,199 0 0 44,199 04 44,199 0 0 FIRST SOLAR INC Com 336433107 933 8,200 0 0 8,200 04 8,200 0 0 FIRSTENERGY CORP Com 337932107 1,388 39,400 0 0 39,400 04 39,400 0 0 FISERV INC Com 337738108 123 2,700 0 0 2,700 04 2,700 0 0 FLEXTRONICS INTL LTD Com Y2573F102 92 16,498 0 0 16,498 04 16,498 0 0 FLIR SYSTEMS INC Com 302445101 652 22,400 0 0 22,400 04 22,400 0 0 FLOWSERVE CORP Com 34354P105 2,407 28,390 0 0 28,390 04 28,390 0 0 FLUOR CORP Com 343412102 1,917 45,100 0 0 45,100 04 45,100 0 0 FMC CORP Com 302491303 63 1,100 0 0 1,100 04 1,100 0 0 FMC TECHNOLOGIES INC Com 30249U101 121 2,300 0 0 2,300 04 2,300 0 0 FORD MOTOR CO Com 345370860 955 94,750 0 0 94,750 04 94,750 0 0 FOREST LABORATORIES INC Com 345838106 1,999 72,860 0 0 72,860 04 72,860 0 0 FORTUNE BRANDS INC Com 349631101 505 12,900 0 0 12,900 04 12,900 0 0 FRANKLIN RESOURCES INC Com 354613101 2,224 25,800 0 0 25,800 04 25,800 0 0 Fred's Incorporated Class A Common Com 356108100 7,746 700,000 0 0 700,000 01 700,000 0 0 FREEPORT-MCMORAN COPPER Com 35671D857 16,059 271,594 0 0 271,594 04 271,594 0 0 FTI CONSULTING INC Com 302941109 196 4,500 0 0 4,500 04 4,500 0 0 --------- 59,487 Form 13F Information Table GAM USA Inc. Page 15 of 40 1 2 3 4 5 6 7 8 Mkt Value -Investment Discretion- Other --- Voting Authority --- Name of Issuer Type CUSIP $ x1000 # Shares Sole Shared Managers Sole Shared None GAMESTOP CORP-CLASS A Com 36467W109 239 12,700 0 0 12,700 04 12,700 0 0 GANNETT CO Com 364730101 580 43,110 0 0 43,110 04 43,110 0 0 GAP INC/THE Com 364760108 2,871 147,550 0 0 147,550 04 147,550 0 0 Gen-Probe Inc. Com. USD0.0001 Com 36866T103 43 950 0 0 950 01 950 0 0 GENERAL DYNAMICS CORP Com 369550108 6,934 118,400 0 0 118,400 04 118,400 0 0 GENERAL ELECTRIC CO Com 369604103 32,078 2,224,520 0 0 2,224,520 04 2,224,520 0 0 General Electric Co. Com. USD0.06 Com 369604103 1,958 135,894 0 0 135,894 01 135,894 0 0 General Electric Co. Com. USD0.06 Com 369604103 6,109 424,185 0 0 424,185 02 424,185 0 0 GENERAL MILLS INC Com 370334104 1,669 47,000 0 0 47,000 04 47,000 0 0 General Mills Incorporated Com. US Com 370334104 18 500 0 0 500 01 500 0 0 GENTIVA HEALTH SERVICES Com 37247A102 683 25,300 0 0 25,300 04 25,300 0 0 GENUINE PARTS CO Com 372460105 3,357 85,100 0 0 85,100 04 85,100 0 0 GENWORTH FINANCIAL INC-CL A Com 37247D106 1,439 110,070 0 0 110,070 04 110,070 0 0 GENZYME CORP Com 372917104 4,036 79,500 0 0 79,500 04 79,500 0 0 Genzyme Corporation Common USD0.01 Com 372917104 49 960 0 0 960 01 960 0 0 Gerber Scientific Common USD1.00 Com 373730100 456 85,000 0 0 85,000 01 85,000 0 0 GERDAU SA -SPON ADR Com 373737105 1,318 100,000 0 0 100,000 04 100,000 0 0 GILEAD SCIENCES INC Com 375558103 8,846 258,050 0 0 258,050 04 258,050 0 0 GOLD FIELDS LTD-SPONS ADR Com 38059T106 7,347 549,500 0 0 549,500 04 549,500 0 0 GOLDMAN SACHS GROUP INC Com 38141G104 9,994 76,130 0 0 76,130 04 76,130 0 0 GOODRICH CORP Com 382388106 808 12,200 0 0 12,200 04 12,200 0 0 GOODYEAR TIRE & RUBBER CO Com 382550101 247 24,800 0 0 24,800 04 24,800 0 0 GOOGLE INC-CL A Com 38259P508 14,630 32,880 0 0 32,880 04 32,880 0 0 Google Incorporated Com. Cl A USD0 Com 38259P508 1,103 2,480 0 0 2,480 02 2,480 0 0 Google Incorporated Com. Cl A USD0 Com 38259P508 93 210 0 0 210 01 210 0 0 --------- 106,905 Form 13F Information Table GAM USA Inc. Page 16 of 40 1 2 3 4 5 6 7 8 Mkt Value -Investment Discretion- Other --- Voting Authority --- Name of Issuer Type CUSIP $ x1000 # Shares Sole Shared Managers Sole Shared None GREATER CHINA FUND Com 39167B102 3,332 307,394 0 0 307,394 04 307,394 0 0 Greenbrier Companies Inc. Common N Com 393657101 258 22,990 0 0 22,990 02 22,990 0 0 Grupo Televisa SA-Sp ADR (1 Rep 5 Com 40049J206 38 2,160 0 0 2,160 01 2,160 0 0 H&R BLOCK INC Com 093671105 1,351 86,100 0 0 86,100 04 86,100 0 0 HAIN CELESTIAL GROUP INC Com 405217100 309 15,300 0 0 15,300 04 15,300 0 0 HALLIBURTON CO Com 406216101 2,985 121,600 0 0 121,600 04 121,600 0 0 HARLEY-DAVIDSON INC Com 412822108 765 34,400 0 0 34,400 04 34,400 0 0 HARMONY GOLD MNG-SPON ADR Com 413216300 4,340 410,600 0 0 410,600 04 410,600 0 0 HARRIS CORP Com 413875105 3,170 76,100 0 0 76,100 04 76,100 0 0 HARSCO CORP Com 415864107 33 1,400 0 0 1,400 04 1,400 0 0 HARTFORD FINANCIAL SVCS GRP Com 416515104 1,527 68,980 0 0 68,980 04 68,980 0 0 HASBRO INC Com 418056107 908 22,100 0 0 22,100 04 22,100 0 0 HCC INSURANCE HOLDINGS INC Com 404132102 2,223 89,800 0 0 89,800 04 89,800 0 0 HEALTH CARE REIT INC Com 42217K106 1,782 42,300 0 0 42,300 04 42,300 0 0 HECLA MINING CO Com 422704106 52 10,000 0 0 10,000 04 10,000 0 0 HELMERICH & PAYNE Com 423452101 2,082 57,000 0 0 57,000 04 57,000 0 0 HENRY SCHEIN INC Com 806407102 88 1,600 0 0 1,600 04 1,600 0 0 HERSHEY CO/THE Com 427866108 767 16,000 0 0 16,000 04 16,000 0 0 HESS CORP Com 42809H107 2,064 41,000 0 0 41,000 04 41,000 0 0 Hess Corporation Common USD1.00 Com 42809H107 69 1,380 0 0 1,380 01 1,380 0 0 HEWLETT-PACKARD CO Com 428236103 25,548 590,300 0 0 590,300 04 590,300 0 0 Hexcel Corporation Common USD0.01 Com 428291108 152 9,770 0 0 9,770 02 9,770 0 0 HJ HEINZ CO Com 423074103 2,425 56,100 0 0 56,100 04 56,100 0 0 HJ Heinz Co. Common USD0.25 Com 423074103 31 710 0 0 710 01 710 0 0 HOLOGIC INC Com 436440101 68 4,912 0 0 4,912 04 4,912 0 0 --------- 56,365 Form 13F Information Table GAM USA Inc. Page 17 of 40 1 2 3 4 5 6 7 8 Mkt Value -Investment Discretion- Other --- Voting Authority --- Name of Issuer Type CUSIP $ x1000 # Shares Sole Shared Managers Sole Shared None HOME DEPOT INC Com 437076102 8,556 304,805 0 0 304,805 04 304,805 0 0 Home Depot Incorporated Common USD Com 437076102 25 880 0 0 880 01 880 0 0 HOME PROPERTIES INC Com 437306103 352 7,800 0 0 7,800 04 7,800 0 0 Home Properties Inc. Common USD0.0 Com 437306103 586 12,980 0 0 12,980 02 12,980 0 0 HONEYWELL INTERNATIONAL INC Com 438516106 2,217 56,800 0 0 56,800 04 56,800 0 0 HORMEL FOODS CORP Com 440452100 57 1,400 0 0 1,400 04 1,400 0 0 HOSPIRA INC Com 441060100 735 12,800 0 0 12,800 04 12,800 0 0 HOST HOTELS & RESORTS INC Com 44107P104 4,884 362,334 0 0 362,334 04 362,334 0 0 HUDSON CITY BANCORP INC Com 443683107 980 80,100 0 0 80,100 04 80,100 0 0 HUMAN GENOME SCIENCES INC Com 444903108 353 15,600 0 0 15,600 04 15,600 0 0 Human Genome Sciences Inc. Com. US Com 444903108 2,367 104,500 0 0 104,500 02 01 104,500 0 0 HUMANA INC Com 444859102 4,193 91,820 0 0 91,820 04 91,820 0 0 HUNT (JB) TRANSPRT SVCS INC Com 445658107 56 1,700 0 0 1,700 04 1,700 0 0 HUNTINGTON BANCSHARES INC Com 446150104 810 146,290 0 0 146,290 04 146,290 0 0 Huntsman Corporation Common USD0.0 Com 447011107 6,279 725,000 0 0 725,000 01 725,000 0 0 ICU Medical Incorporated Common US Com 44930G107 3,220 100,000 0 0 100,000 01 100,000 0 0 IDEXX LABORATORIES INC Com 45168D104 305 5,000 0 0 5,000 04 5,000 0 0 IHS INC-CLASS A Com 451734107 47 800 0 0 800 04 800 0 0 ILLINOIS TOOL WORKS Com 452308109 4,442 107,600 0 0 107,600 04 107,600 0 0 ILLUMINA INC Com 452327109 1,371 31,500 0 0 31,500 04 31,500 0 0 INDIA FUND INC Com 454089103 454 15,000 0 0 15,000 04 15,000 0 0 INDUSTRIAL SELECT SECT SPDR Com 81369Y704 824 30,000 0 0 30,000 04 30,000 0 0 Infinity Property & Casualty Commo Com 45665Q103 5,779 125,000 0 0 125,000 01 125,000 0 0 INFOSYS TECHNOLOGIES-SP ADR Com 456788108 3,607 60,200 0 0 60,200 04 60,200 0 0 INTEL CORP Com 458140100 34,588 1,778,283 0 0 1,778,283 04 1,778,283 0 0 --------- 87,085 Form 13F Information Table GAM USA Inc. Page 18 of 40 1 2 3 4 5 6 7 8 Mkt Value -Investment Discretion- Other --- Voting Authority --- Name of Issuer Type CUSIP $ x1000 # Shares Sole Shared Managers Sole Shared None Intel Corp. Com. USD0.001 Com 458140100 1,125 57,400 0 0 57,400 01 57,400 0 0 Intel Corp. Com. USD0.001 Com 458140100 5,520 283,860 0 0 283,860 02 01 283,860 0 0 Intel Corp. Com. USD0.001 Com 458140100 2,057 105,800 0 0 105,800 02 105,800 0 0 INTERCONTINENTALEXCHANGE INC Com 45865V100 2,198 19,450 0 0 19,450 04 19,450 0 0 INTERNATIONAL PAPER CO Com 460146103 1,521 67,200 0 0 67,200 04 67,200 0 0 InterOil Corporation Common NPV Com 460951106 1,841 41,500 0 0 41,500 01 41,500 0 0 INTERPUBLIC GROUP OF COS INC Com 460690100 62 8,700 0 0 8,700 04 8,700 0 0 INTL BUSINESS MACHINES CORP Com 459200101 41,536 471,380 0 0 471,380 04 471,380 0 0 INTL FLAVORS & FRAGRANCES Com 459506101 64 1,500 0 0 1,500 04 1,500 0 0 INTL GAME TECHNOLOGY Com 459902102 639 40,700 0 0 40,700 04 40,700 0 0 Intl. Business Machines Corp. Com Com 459200101 563 4,500 0 0 4,500 01 4,500 0 0 Intl. Game Technology Com. USD0.00 Com 459902102 15 960 0 0 960 01 960 0 0 INTUIT INC Com 461202103 887 25,500 0 0 25,500 04 25,500 0 0 iPath S&P 500 VIX S/T Fut. ETN Com 06740C527 2,997 96,121 0 0 96,121 01 96,121 0 0 IRON MOUNTAIN INC Com 462846106 74 3,300 0 0 3,300 04 3,300 0 0 ISHARES DJ US REAL ESTATE Com 464287739 2,361 50,000 0 0 50,000 04 50,000 0 0 iShares FTSE/XINHUA China 25 Index Com 464287184 868 22,140 0 0 22,140 02 22,140 0 0 ISHARES FTSE/XINHUA CHINA 25 Com 464287184 3,763 96,160 0 0 96,160 04 96,160 0 0 ISHARES MSCI ASIA EX-JAPAN Com 464288182 783 15,000 0 0 15,000 04 15,000 0 0 ISHARES MSCI AUSTRALIA INDEX Com 464286103 571 30,110 0 0 30,110 04 30,110 0 0 ISHARES MSCI BRAZIL Com 464286400 5,318 85,830 0 0 85,830 04 85,830 0 0 iShares MSCI Emerging Markets Inde Com 464287234 16,794 450,000 0 0 450,000 01 450,000 0 0 ISHARES MSCI EMERGING MKT IN Com 464287234 13,235 354,627 0 0 354,627 04 354,627 0 0 iShares MSCI Germany Index Com 464286806 107 5,731 0 0 5,731 01 5,731 0 0 ISHARES MSCI HONG KONG INDEX Com 464286871 817 55,330 0 0 55,330 04 55,330 0 0 --------- 105,714 Form 13F Information Table GAM USA Inc. Page 19 of 40 1 2 3 4 5 6 7 8 Mkt Value -Investment Discretion- Other --- Voting Authority --- Name of Issuer Type CUSIP $ x1000 # Shares Sole Shared Managers Sole Shared None ISHARES MSCI MALAYSIA Com 464286830 1,465 128,100 0 0 128,100 04 128,100 0 0 ISHARES MSCI MEXICO INVESTAB Com 464286822 4,219 88,100 0 0 88,100 04 88,100 0 0 ISHARES MSCI PACIFIC EX JPN Com 464286665 9,505 265,950 0 0 265,950 04 265,950 0 0 iShares MSCI Singapore Index Fund Com 464286673 357 31,843 0 0 31,843 01 31,843 0 0 ISHARES MSCI SOUTH KOREA IND Com 464286772 6,881 153,900 0 0 153,900 04 153,900 0 0 iShares MSCI South Korea Index Fun Com 464286772 270 6,000 0 0 6,000 02 6,000 0 0 ISHARES MSCI TAIWAN INDEX FD Com 464286731 5,267 470,270 0 0 470,270 04 470,270 0 0 iShares MSCI Taiwan Index Fund Com 464286731 5,598 500,000 0 0 500,000 01 500,000 0 0 ISHARES MSCI TURKEY INVSTBLE Com 464286715 3,705 70,000 0 0 70,000 04 70,000 0 0 ISHARES S&P 500 GROWTH INDEX Com 464287309 6,882 130,000 0 0 130,000 04 130,000 0 0 ISHARES S&P GLBL ENERGY SECT Com 464287341 100 3,400 0 0 3,400 04 3,400 0 0 ISHARES S&P GLBL FINL SECTOR Com 464287333 242 6,150 0 0 6,150 04 6,150 0 0 ISHARES S&P GLBL TECH SECTOR Com 464287291 164 3,250 0 0 3,250 04 3,250 0 0 iShares Silver Trust Fund Com 46428Q109 625 34,294 0 0 34,294 01 34,294 0 0 ITAU UNIBANCO HLDNG-PREF ADR Com 465562106 4,196 232,962 0 0 232,962 04 232,962 0 0 Itau Unibanco Pref. ADR (1Rep 1Pre Com 465562106 669 37,100 0 0 37,100 01 37,100 0 0 Itau Unibanco Pref. ADR (1Rep 1Pre Com 465562106 310 17,000 0 0 17,000 01 17,000 0 0 ITT CORP Com 450911102 1,487 33,100 0 0 33,100 04 33,100 0 0 ITT EDUCATIONAL SERVICES INC Com 45068B109 66 800 0 0 800 04 800 0 0 J CREW GROUP INC Com 46612H402 258 7,000 0 0 7,000 04 7,000 0 0 J.C. PENNEY CO INC Com 708160106 722 33,600 0 0 33,600 04 33,600 0 0 JACOBS ENGINEERING GROUP INC Com 469814107 4,400 120,740 0 0 120,740 04 120,740 0 0 JANUS CAPITAL GROUP INC Com 47102X105 444 50,000 0 0 50,000 04 50,000 0 0 JDS UNIPHASE CORP Com 46612J507 590 60,000 0 0 60,000 04 60,000 0 0 JDS Uniphase Corp. Common USD0.001 Com 46612J507 4,826 490,670 0 0 490,670 01 490,670 0 0 --------- 63,246 Form 13F Information Table GAM USA Inc. Page 20 of 40 1 2 3 4 5 6 7 8 Mkt Value -Investment Discretion- Other --- Voting Authority --- Name of Issuer Type CUSIP $ x1000 # Shares Sole Shared Managers Sole Shared None JDS Uniphase Corp. Common USD0.001 Com 46612J507 16,339 1,661,432 0 0 1,661,432 02 1,661,432 0 0 JEFFERIES GROUP INC Com 472319102 42 2,000 0 0 2,000 04 2,000 0 0 JM SMUCKER CO/THE Com 832696405 139 2,302 0 0 2,302 04 2,302 0 0 Johnson & Johnson Common USD1.00 Com 478160104 367 6,200 0 0 6,200 01 6,200 0 0 JOHNSON & JOHNSON Com 478160104 36,579 619,350 0 0 619,350 04 619,350 0 0 JOHNSON CONTROLS INC Com 478366107 4,112 153,020 0 0 153,020 04 153,020 0 0 JOY GLOBAL INC Com 481165108 1,078 21,520 0 0 21,520 04 21,520 0 0 Joy Global Inc. Common USD1.00 Com 481165108 314 6,270 0 0 6,270 02 6,270 0 0 JPMORGAN CHASE & CO Com 46625H100 30,500 833,094 0 0 833,094 04 833,094 0 0 JUNIPER NETWORKS INC Com 48203R104 495 21,700 0 0 21,700 04 21,700 0 0 Juniper Networks Inc. Common USD0. Com 48203R104 21 940 0 0 940 01 940 0 0 KELLOGG CO Com 487836108 1,750 34,800 0 0 34,800 04 34,800 0 0 Kellogg Company Common USD0.25 Com 487836108 11 220 0 0 220 01 220 0 0 KEYCORP Com 493267108 116 15,100 0 0 15,100 04 15,100 0 0 --------- 91,863 Form 13F Information Table GAM USA Inc. Page 21 of 40 1 2 3 4 5 6 7 8 Mkt Value -Investment Discretion- Other --- Voting Authority --- Name of Issuer Type CUSIP $ x1000 # Shares Sole Shared Managers Sole Shared None KIMBERLY-CLARK CORP Com 494368103 1,594 26,290 0 0 26,290 04 26,290 0 0 KIMCO REALTY CORP Com 49446R109 2,047 152,300 0 0 152,300 04 152,300 0 0 KINETIC CONCEPTS INC Com 49460W208 493 13,500 0 0 13,500 04 13,500 0 0 KING PHARMACEUTICALS INC Com 495582108 228 30,000 0 0 30,000 04 30,000 0 0 KLA-TENCOR CORPORATION Com 482480100 636 22,800 0 0 22,800 04 22,800 0 0 KOHLS CORP Com 500255104 2,313 48,700 0 0 48,700 04 48,700 0 0 Kohls Corporation Com. USD0.01 Com 500255104 33 690 0 0 690 01 690 0 0 KOREA ELEC POWER CORP-SP ADR Com 500631106 1,390 107,910 0 0 107,910 04 107,910 0 0 KRAFT FOODS INC-CLASS A Com 50075N104 22,578 806,359 0 0 806,359 04 806,359 0 0 Kraft Foods Inc A NPV Com 50075N104 412 14,500 0 0 14,500 01 14,500 0 0 KROGER CO Com 501044101 1,402 71,200 0 0 71,200 04 71,200 0 0 Kroger Co. Common USD1.00 Com 501044101 27 1,360 0 0 1,360 01 1,360 0 0 KT CORP-SP ADR Com 48268K101 2,508 130,837 0 0 130,837 04 130,837 0 0 L-3 COMMUNICATIONS HOLDINGS Com 502424104 4,505 63,600 0 0 63,600 04 63,600 0 0 LABORATORY CRP OF AMER HLDGS Com 50540R409 3,695 49,040 0 0 49,040 04 49,040 0 0 LAM RESEARCH CORP Com 512807108 84 2,200 0 0 2,200 04 2,200 0 0 Lam Research Corporation Common US Com 512807108 4,872 128,000 0 0 128,000 01 128,000 0 0 LAS VEGAS SANDS CORP Com 517834107 144 6,500 0 0 6,500 04 6,500 0 0 LASALLE HOTEL PROPERTIES Com 517942108 348 16,900 0 0 16,900 04 16,900 0 0 Layne Christensen Company Common U Com 521050104 773 31,850 0 0 31,850 02 31,850 0 0 LEGG MASON INC Com 524901105 362 12,900 0 0 12,900 04 12,900 0 0 LEGGETT & PLATT INC Com 524660107 447 22,300 0 0 22,300 04 22,300 0 0 LENDER PROCESSING SERVICES Com 52602E102 50 1,600 0 0 1,600 04 1,600 0 0 LENNAR CORP-CL A Com 526057104 417 30,000 0 0 30,000 04 30,000 0 0 --------- 51,357 Form 13F Information Table GAM USA Inc. Page 22 of 40 1 2 3 4 5 6 7 8 Mkt Value -Investment Discretion- Other --- Voting Authority --- Name of Issuer Type CUSIP $ x1000 # Shares Sole Shared Managers Sole Shared None Lennar Corporation Class A Com. US Com 526057104 2,293 164,740 0 0 164,740 02 01 164,740 0 0 LEUCADIA NATIONAL CORP Com 527288104 62 3,200 0 0 3,200 04 3,200 0 0 Level 3 Comm. 5.25% Cv. 15-12-2011 Bond 52729NBF6 1,203 1,250,000 0 0 1,250,000 01 1,250,000 0 0 Level 3 Communicat. 3.5% Cv. 15-06 Bond 52729NBK5 459 500,000 0 0 500,000 01 500,000 0 0 LEVEL 3 COMMUNICATIONS INC Com 52729N100 47 43,300 0 0 43,300 04 43,300 0 0 LEXMARK INTERNATIONAL INC-A Com 529771107 1,523 46,100 0 0 46,100 04 46,100 0 0 LIBERTY GLOBAL INC-A Com 530555101 73 2,800 0 0 2,800 04 2,800 0 0 LIBERTY GLOBAL INC-SERIES C Com 530555309 49 1,900 0 0 1,900 04 1,900 0 0 Liberty Global Inc. Srs. C Com. US Com 530555309 553 21,266 0 0 21,266 01 21,266 0 0 LIBERTY MEDIA CORP-INTER A Com 53071M104 111 10,600 0 0 10,600 04 10,600 0 0 Liberty Media Holding Corp. 'A' US Com 53071M302 373 8,900 0 0 8,900 01 8,900 0 0 LIFE TECHNOLOGIES CORP Com 53217V109 1,130 23,909 0 0 23,909 04 23,909 0 0 LINCOLN NATIONAL CORP Com 534187109 1,022 42,060 0 0 42,060 04 42,060 0 0 LINDSAY CORP Com 535555106 254 8,000 0 0 8,000 04 8,000 0 0 Lindsay Corporation Common USD1.00 Com 535555106 550 17,340 0 0 17,340 02 17,340 0 0 LINEAR TECHNOLOGY CORP Com 535678106 1,785 64,200 0 0 64,200 04 64,200 0 0 LIZ CLAIBORNE INC Com 539320101 93 22,000 0 0 22,000 04 22,000 0 0 LOCKHEED MARTIN CORP Com 539830109 6,951 93,300 0 0 93,300 04 93,300 0 0 LOEWS CORP Com 540424108 216 6,499 0 0 6,499 04 6,499 0 0 Loews Corporation Common USD0.01 Com 540424108 652 19,600 0 0 19,600 01 19,600 0 0 Lowe's Companies Inc. Common USD0. Com 548661107 23 1,110 0 0 1,110 01 1,110 0 0 LOWE'S COS INC Com 548661107 5,140 251,700 0 0 251,700 04 251,700 0 0 LSB INDUSTRIES INC Com 502160104 1,065 80,000 0 0 80,000 04 80,000 0 0 LSI CORP Com 502161102 54 11,800 0 0 11,800 04 11,800 0 0 LTD BRANDS INC Com 532716107 1,869 84,700 0 0 84,700 04 84,700 0 0 --------- 27,550 Form 13F Information Table GAM USA Inc. Page 23 of 40 1 2 3 4 5 6 7 8 Mkt Value -Investment Discretion- Other --- Voting Authority --- Name of Issuer Type CUSIP $ x1000 # Shares Sole Shared Managers Sole Shared None LUBRIZOL CORP Com 549271104 88 1,100 0 0 1,100 04 1,100 0 0 LULULEMON ATHLETICA INC Com 550021109 264 7,095 0 0 7,095 04 7,095 0 0 M & T BANK CORP Com 55261F104 110 1,300 0 0 1,300 04 1,300 0 0 MACERICH CO/THE Com 554382101 3,019 80,895 0 0 80,895 04 80,895 0 0 MACY'S INC Com 55616P104 489 27,300 0 0 27,300 04 27,300 0 0 MANPOWER INC Com 56418H100 56 1,300 0 0 1,300 04 1,300 0 0 Manpower Inc. Common USD0.01 Com 56418H100 41 940 0 0 940 01 940 0 0 MARATHON OIL CORP Com 565849106 12,741 409,810 0 0 409,810 04 409,810 0 0 Market Vectors Gold Miners ETF Com 57060U100 624 12,006 0 0 12,006 01 12,006 0 0 MARKET VECTORS GOLD MINERS Com 57060U100 5,144 99,000 0 0 99,000 04 99,000 0 0 Market Vectors Jr Gold Miners ETF Com 57060U589 787 28,856 0 0 28,856 01 28,856 0 0 MARKET VECTORS RUSSIA ETF Com 57060U506 1,683 60,000 0 0 60,000 04 60,000 0 0 MARRIOTT INTERNATIONAL-CL A Com 571903202 1,368 45,698 0 0 45,698 04 45,698 0 0 MARSH & MCLENNAN COS Com 571748102 2,555 113,300 0 0 113,300 04 113,300 0 0 MARSHALL & ILSLEY CORP Com 571837103 1,712 238,400 0 0 238,400 04 238,400 0 0 MARTEK BIOSCIENCES CORP Com 572901106 237 10,000 0 0 10,000 04 10,000 0 0 Martin Marietta Materials Common U Com 573284106 707 8,340 0 0 8,340 02 8,340 0 0 Martin Marietta Materials Common U Com 573284106 19 220 0 0 220 01 220 0 0 MARTIN MARIETTA MATERIALS Com 573284106 76 900 0 0 900 04 900 0 0 Marvell Tech. Group Ltd. Common US Com G5876H105 501 30,800 0 0 30,800 01 30,800 0 0 MARVELL TECHNOLOGY GROUP LTD Com G5876H105 808 51,300 0 0 51,300 04 51,300 0 0 MASCO CORP Com 574599106 1,029 95,600 0 0 95,600 04 95,600 0 0 MASSEY ENERGY CO Com 576206106 2,492 91,100 0 0 91,100 04 91,100 0 0 MASTERCARD INC-CLASS A Com 57636Q104 4,424 22,170 0 0 22,170 04 22,170 0 0 Mastercard Inc. Class A Com. USD0. Com 57636Q104 16 80 0 0 80 01 80 0 0 --------- 40,990 Form 13F Information Table GAM USA Inc. Page 24 of 40 1 2 3 4 5 6 7 8 Mkt Value -Investment Discretion- Other --- Voting Authority --- Name of Issuer Type CUSIP $ x1000 # Shares Sole Shared Managers Sole Shared None MATTEL INC Com 577081102 2,330 110,100 0 0 110,100 04 110,100 0 0 MAXIM INTEGRATED PRODUCTS Com 57772K101 92 5,500 0 0 5,500 04 5,500 0 0 MCAFEE INC Com 579064106 307 10,000 0 0 10,000 04 10,000 0 0 MCCORMICK & CO-NON VTG SHRS Com 579780206 80 2,100 0 0 2,100 04 2,100 0 0 MCDERMOTT INTL INC Com 580037109 87 4,000 0 0 4,000 04 4,000 0 0 MCDONALD'S CORP Com 580135101 25,037 380,090 0 0 380,090 04 380,090 0 0 McDonald's Corporation Common USD0 Com 580135101 536 8,070 0 0 8,070 01 8,070 0 0 MCGRAW-HILL COMPANIES INC Com 580645109 1,404 49,900 0 0 49,900 04 49,900 0 0 MCKESSON CORP Com 58155Q103 2,176 32,400 0 0 32,400 04 32,400 0 0 McKesson Incorporated Common USD0. Com 58155Q103 5,410 80,560 0 0 80,560 02 01 80,560 0 0 MEAD JOHNSON NUTRITION CO Com 582839106 193 3,850 0 0 3,850 04 3,850 0 0 MEADWESTVACO CORP Com 583334107 71 3,200 0 0 3,200 04 3,200 0 0 Mechel-Sponsored ADR (1 Rep. 1 Ord Com 583840103 1,291 71,200 0 0 71,200 01 71,200 0 0 MECHEL-SPONSORED ADR Com 583840103 2,649 146,016 0 0 146,016 04 146,016 0 0 MEDCO HEALTH SOLUTIONS INC Com 58405U102 4,799 87,120 0 0 87,120 04 87,120 0 0 MEDTRONIC INC Com 585055106 9,200 253,660 0 0 253,660 04 253,660 0 0 MEMC ELECTRONIC MATERIALS Com 552715104 1,643 166,300 0 0 166,300 04 166,300 0 0 Merck & Co. Inc. Common USD0.01 Com 58933Y105 11,333 324,115 0 0 324,115 01 324,115 0 0 Merck & Co. Inc. Common USD0.01 Com 58933Y105 30,696 878,145 0 0 878,145 02 878,145 0 0 MERCK & CO. INC. Com 58933Y105 24,482 700,089 0 0 700,089 04 700,089 0 0 METLIFE INC Com 59156R108 10,602 280,770 0 0 280,770 04 280,770 0 0 METROPCS COMMUNICATIONS INC Com 591708102 199 24,300 0 0 24,300 04 24,300 0 0 MEXICO FUND INC Com 592835102 928 41,000 0 0 41,000 04 41,000 0 0 MGM RESORTS INTERNATIONAL Com 552953101 48 5,000 0 0 5,000 04 5,000 0 0 MICROCHIP TECHNOLOGY INC Com 595017104 1,612 58,100 0 0 58,100 04 58,100 0 0 --------- 137,204 Form 13F Information Table GAM USA Inc. Page 25 of 40 1 2 3 4 5 6 7 8 Mkt Value -Investment Discretion- Other --- Voting Authority --- Name of Issuer Type CUSIP $ x1000 # Shares Sole Shared Managers Sole Shared None MICRON TECHNOLOGY INC Com 595112103 1,486 175,000 0 0 175,000 04 175,000 0 0 Micron Technology Inc. Common USD0 Com 595112103 1,188 140,000 0 0 140,000 01 140,000 0 0 MICROS SYSTEMS INC Com 594901100 956 30,000 0 0 30,000 04 30,000 0 0 MICROSOFT CORP Com 594918104 50,184 2,180,950 0 0 2,180,950 04 2,180,950 0 0 Microsoft Corporation Com. USD0.00 Com 594918104 3,992 173,200 0 0 173,200 01 173,200 0 0 Microsoft Corporation Com. USD0.00 Com 594918104 1,610 70,000 0 0 70,000 02 70,000 0 0 Microsoft Corporation Com. USD0.00 Com 594918104 37 1,590 0 0 1,590 01 1,590 0 0 Millicom Intl Cellular SA Com. USD Com L6388F110 580 7,150 0 0 7,150 01 7,150 0 0 MILLIPORE CORP Com 601073109 107 1,000 0 0 1,000 04 1,000 0 0 MOBILE TELESYSTEMS-SP ADR Com 607409109 8,108 423,159 0 0 423,159 04 423,159 0 0 Mobile Telesystems ADR (1 Rep. 5 O Com 607409109 1,447 75,550 0 0 75,550 01 75,550 0 0 MOHAWK INDUSTRIES INC Com 608190104 46 1,000 0 0 1,000 04 1,000 0 0 MOLEX INC Com 608554101 790 43,300 0 0 43,300 04 43,300 0 0 MOLSON COORS BREWING CO -B Com 60871R209 110 2,600 0 0 2,600 04 2,600 0 0 MoneyGram International USD0.01 Com 60935Y109 103 42,000 0 0 42,000 01 42,000 0 0 MONSANTO CO Com 61166W101 24,432 528,600 0 0 528,600 04 528,600 0 0 Monsanto Company Common USD0.01 Com 61166W101 236 5,116 0 0 5,116 01 5,116 0 0 Monsanto Company Common USD0.01 Com 61166W101 1,433 31,000 0 0 31,000 02 31,000 0 0 Monsanto Company Common USD0.01 Com 61166W101 60 1,290 0 0 1,290 01 1,290 0 0 MOODY'S CORP Com 615369105 78 3,900 0 0 3,900 04 3,900 0 0 Morgan Stanley China A Shares Com 617468103 1,005 39,382 0 0 39,382 01 39,382 0 0 MORGAN STANLEY Com 617446448 2,627 113,180 0 0 113,180 04 113,180 0 0 MOSAIC CO/THE Com 61945A107 3,645 93,502 0 0 93,502 04 93,502 0 0 MOTOROLA INC Com 620076109 934 143,300 0 0 143,300 04 143,300 0 0 MURPHY OIL CORP Com 626717102 168 3,398 0 0 3,398 04 3,398 0 0 --------- 105,360 Form 13F Information Table GAM USA Inc. Page 26 of 40 1 2 3 4 5 6 7 8 Mkt Value -Investment Discretion- Other --- Voting Authority --- Name of Issuer Type CUSIP $ x1000 # Shares Sole Shared Managers Sole Shared None MYLAN INC Com 628530107 97 5,700 0 0 5,700 04 5,700 0 0 MYRIAD GENETICS INC Com 62855J104 135 9,000 0 0 9,000 04 9,000 0 0 NABORS INDUSTRIES LTD Com G6359F103 441 25,000 0 0 25,000 04 25,000 0 0 NASDAQ OMX GROUP/THE Com 631103108 671 37,760 0 0 37,760 04 37,760 0 0 NATIONAL OILWELL VARCO INC Com 637071101 2,687 81,244 0 0 81,244 04 81,244 0 0 NATIONAL SEMICONDUCTOR CORP Com 637640103 599 44,500 0 0 44,500 04 44,500 0 0 NELNET INC-CL A Com 64031N108 289 15,000 0 0 15,000 04 15,000 0 0 NET SERVICOS DE COM-PR ADR Com 64109T201 376 40,000 0 0 40,000 04 40,000 0 0 NETAPP INC Com 64110D104 1,526 40,900 0 0 40,900 04 40,900 0 0 NETFLIX INC Com 64110L106 76 700 0 0 700 04 700 0 0 New Oriental Education ADR (1 rep Com 647581107 664 7,000 0 0 7,000 01 7,000 0 0 NEW YORK COMMUNITY BANCORP Com 649445103 107 7,000 0 0 7,000 04 7,000 0 0 NEW YORK TIMES CO -CL A Com 650111107 1,018 117,720 0 0 117,720 04 117,720 0 0 NEWELL RUBBERMAID INC Com 651229106 66 4,500 0 0 4,500 04 4,500 0 0 NEWFIELD EXPLORATION CO Com 651290108 650 13,300 0 0 13,300 04 13,300 0 0 NEWMONT MINING CORP Com 651639106 20,843 337,586 0 0 337,586 04 337,586 0 0 NEWS CORP-CL A Com 65248E104 7,631 638,080 0 0 638,080 04 638,080 0 0 News Corp-Class B Com. USD0.01 Com 65248E203 4,803 346,689 0 0 346,689 02 01 346,689 0 0 NEWS CORP-CLASS B Com 65248E203 119 8,600 0 0 8,600 04 8,600 0 0 NII HOLDINGS INC Com 62913F201 3,397 104,460 0 0 104,460 04 104,460 0 0 NIKE INC -CL B Com 654106103 9,477 140,300 0 0 140,300 04 140,300 0 0 NISOURCE INC Com 65473P105 790 54,470 0 0 54,470 04 54,470 0 0 NOBLE ENERGY INC Com 655044105 187 3,100 0 0 3,100 04 3,100 0 0 Nordstrom Inc Common NPV Com 655664100 34 1,050 0 0 1,050 01 1,050 0 0 NORDSTROM INC Com 655664100 2,591 80,500 0 0 80,500 04 80,500 0 0 --------- 59,274 Form 13F Information Table GAM USA Inc. Page 27 of 40 1 2 3 4 5 6 7 8 Mkt Value -Investment Discretion- Other --- Voting Authority --- Name of Issuer Type CUSIP $ x1000 # Shares Sole Shared Managers Sole Shared None NORFOLK SOUTHERN CORP Com 655844108 2,944 55,500 0 0 55,500 04 55,500 0 0 NORTHEAST UTILITIES Com 664397106 76 3,000 0 0 3,000 04 3,000 0 0 NORTHERN TRUST CORP Com 665859104 3,252 69,630 0 0 69,630 04 69,630 0 0 Northern Trust Corp. Com. USD1.667 Com 665859104 39 840 0 0 840 01 840 0 0 NORTHROP GRUMMAN CORP Com 666807102 283 5,200 0 0 5,200 04 5,200 0 0 NOVELLUS SYSTEMS INC Com 670008101 507 20,000 0 0 20,000 04 20,000 0 0 NSTAR Com 67019E107 77 2,200 0 0 2,200 04 2,200 0 0 NUANCE COMMUNICATIONS INC Com 67020Y100 61 4,100 0 0 4,100 04 4,100 0 0 NUCOR CORP Com 670346105 1,294 33,800 0 0 33,800 04 33,800 0 0 NVIDIA CORP Com 67066G104 2,810 275,251 0 0 275,251 04 275,251 0 0 NYSE EURONEXT Com 629491101 1,028 37,210 0 0 37,210 04 37,210 0 0 O'REILLY AUTOMOTIVE INC Com 686091109 124 2,600 0 0 2,600 04 2,600 0 0 OCCIDENTAL PETROLEUM CORP Com 674599105 17,101 221,660 0 0 221,660 04 221,660 0 0 OCEANEERING INTL INC Com 675232102 284 6,320 0 0 6,320 04 6,320 0 0 OIL SERVICES HOLDRS TRUST Com 678002106 757 8,000 0 0 8,000 04 8,000 0 0 OLD REPUBLIC INTL CORP Com 680223104 44 3,600 0 0 3,600 04 3,600 0 0 OMNICARE INC Com 681904108 40 1,700 0 0 1,700 04 1,700 0 0 OMNICOM GROUP Com 681919106 2,597 75,700 0 0 75,700 04 75,700 0 0 OMNIVISION TECHNOLOGIES INC Com 682128103 643 30,000 0 0 30,000 04 30,000 0 0 On Semiconductor Corp. Com. USD0.0 Com 682189105 918 143,750 0 0 143,750 01 143,750 0 0 ONEOK INC Com 682680103 87 2,000 0 0 2,000 04 2,000 0 0 ONYX PHARMACEUTICALS INC Com 683399109 108 5,000 0 0 5,000 04 5,000 0 0 ORACLE CORP Com 68389X105 22,860 1,065,230 0 0 1,065,230 04 1,065,230 0 0 --------- 57,934 Form 13F Information Table GAM USA Inc. Page 28 of 40 1 2 3 4 5 6 7 8 Mkt Value -Investment Discretion- Other --- Voting Authority --- Name of Issuer Type CUSIP $ x1000 # Shares Sole Shared Managers Sole Shared None Oracle Corporation Common USD0.01 Com 68389X105 646 29,700 0 0 29,700 01 29,700 0 0 Oracle Corporation Common USD0.01 Com 68389X105 2,648 123,430 0 0 123,430 02 01 123,430 0 0 OWENS-ILLINOIS INC Com 690768403 209 7,900 0 0 7,900 04 7,900 0 0 Owens-Illinois Inc. Common USD0.01 Com 690768403 26 990 0 0 990 01 990 0 0 P G & E CORP Com 69331C108 3,810 92,700 0 0 92,700 04 92,700 0 0 PACCAR INC Com 693718108 507 12,725 0 0 12,725 04 12,725 0 0 PACTIV CORPORATION Com 695257105 67 2,400 0 0 2,400 04 2,400 0 0 PALL CORP Com 696429307 72 2,100 0 0 2,100 04 2,100 0 0 Pall Corp. Common USD0.10 Com 696429307 918 26,720 0 0 26,720 02 26,720 0 0 Pall Corp. Common USD0.10 Com 696429307 30 880 0 0 880 01 880 0 0 PARKER HANNIFIN CORP Com 701094104 2,035 36,690 0 0 36,690 04 36,690 0 0 PATRIOT COAL CORP Com 70336T104 11 900 0 0 900 04 900 0 0 PATTERSON COS INC Com 703395103 506 17,720 0 0 17,720 04 17,720 0 0 PAYCHEX INC Com 704326107 156 6,000 0 0 6,000 04 6,000 0 0 Paychex Inc. Common USD0.01 Com 704326107 39 1,510 0 0 1,510 01 1,510 0 0 PEABODY ENERGY CORP Com 704549104 9,537 243,721 0 0 243,721 04 243,721 0 0 Penske Auto Group Inc. Common USD0 Com 70959W103 3,411 300,000 0 0 300,000 01 300,000 0 0 PENTAIR INC Com 709631105 1,333 41,400 0 0 41,400 04 41,400 0 0 PEOPLE'S UNITED FINANCIAL Com 712704105 105 7,800 0 0 7,800 04 7,800 0 0 PEPCO HOLDINGS INC Com 713291102 80 5,100 0 0 5,100 04 5,100 0 0 PEPSICO INC Com 713448108 28,033 459,933 0 0 459,933 04 459,933 0 0 PepsiCo Incorporated Com. USD0.017 Com 713448108 3,028 49,690 0 0 49,690 02 01 49,690 0 0 PERKINELMER INC Com 714046109 827 40,000 0 0 40,000 04 40,000 0 0 PERRIGO CO Com 714290103 95 1,600 0 0 1,600 04 1,600 0 0 PETROHAWK ENERGY CORP Com 716495106 776 45,700 0 0 45,700 04 45,700 0 0 --------- 58,904 Form 13F Information Table GAM USA Inc. Page 29 of 40 1 2 3 4 5 6 7 8 Mkt Value -Investment Discretion- Other --- Voting Authority --- Name of Issuer Type CUSIP $ x1000 # Shares Sole Shared Managers Sole Shared None Petrohawk Energy Corp. Common USD0 Com 716495106 4,665 275,000 0 0 275,000 01 275,000 0 0 PETROLEO BRASILEIRO-SPON ADR Com 71654V101 7,213 242,050 0 0 242,050 04 242,050 0 0 PETROLEO BRASILEIRO S.A.-ADR Com 71654V408 5,539 161,400 0 0 161,400 04 161,400 0 0 Petroleo Brasileiro SA ADR (1 Rep Com 71654V408 270 7,900 0 0 7,900 01 7,900 0 0 PETSMART INC Com 716768106 66 2,200 0 0 2,200 04 2,200 0 0 PFIZER INC Com 717081103 43,738 3,067,166 0 0 3,067,166 04 3,067,166 0 0 Pfizer Incorporated Common USD0.05 Com 717081103 15,027 1,054,083 0 0 1,054,083 01 1,054,083 0 0 Pfizer Incorporated Common USD0.05 Com 717081103 2,738 192,040 0 0 192,040 02 01 192,040 0 0 Pfizer Incorporated Common USD0.05 Com 717081103 36,393 2,553,198 0 0 2,553,198 02 2,553,198 0 0 PHARMACEUTICAL PRODUCT DEVEL Com 717124101 46 1,800 0 0 1,800 04 1,800 0 0 Philip Morris International Com. N Com 718172109 917 20,000 0 0 20,000 01 20,000 0 0 Philip Morris International Com. N Com 718172109 153 3,340 0 0 3,340 01 3,340 0 0 PHILIP MORRIS INTERNATIONAL Com 718172109 15,085 329,090 0 0 329,090 04 329,090 0 0 PHILIPPINE LONG DIST -SP ADR Com 718252604 430 8,440 0 0 8,440 04 8,440 0 0 PIONEER NATURAL RESOURCES CO Com 723787107 1,061 17,850 0 0 17,850 04 17,850 0 0 PIPER JAFFRAY COS Com 724078100 1 43 0 0 43 04 43 0 0 PITNEY BOWES INC Com 724479100 86 3,900 0 0 3,900 04 3,900 0 0 PLAINS EXPLORATION & PRODUCT Com 726505100 346 16,800 0 0 16,800 04 16,800 0 0 Platinum Underwriters Hldgs. Ltd. Com G7127P100 53 1,452 0 0 1,452 01 1,452 0 0 PLUM CREEK TIMBER CO Com 729251108 3,563 103,200 0 0 103,200 04 103,200 0 0 PNC FINANCIAL SERVICES GROUP Com 693475105 3,068 54,306 0 0 54,306 04 54,306 0 0 POLO RALPH LAUREN CORP Com 731572103 4,075 55,850 0 0 55,850 04 55,850 0 0 POLYPORE INTERNATIONAL INC Com 73179V103 455 20,000 0 0 20,000 04 20,000 0 0 Polypore International Inc. Com. U Com 73179V103 179 7,850 0 0 7,850 02 7,850 0 0 POST PROPERTIES INC Com 737464107 236 10,400 0 0 10,400 04 10,400 0 0 --------- 145,404 Form 13F Information Table GAM USA Inc. Page 30 of 40 1 2 3 4 5 6 7 8 Mkt Value -Investment Discretion- Other --- Voting Authority --- Name of Issuer Type CUSIP $ x1000 # Shares Sole Shared Managers Sole Shared None POWER INTEGRATIONS INC Com 739276103 644 20,000 0 0 20,000 04 20,000 0 0 Powershares DB Gold Fund Com 73936B606 841 18,982 0 0 18,982 01 18,982 0 0 POWERSHARES QQQ NASDAQ 100 Com 73935A104 854 20,000 0 0 20,000 04 20,000 0 0 PPG INDUSTRIES INC Com 693506107 199 3,300 0 0 3,300 04 3,300 0 0 PRAXAIR INC Com 74005P104 3,401 44,750 0 0 44,750 04 44,750 0 0 PRECISION CASTPARTS CORP Com 740189105 2,301 22,353 0 0 22,353 04 22,353 0 0 PRIDE INTERNATIONAL INC Com 74153Q102 2,493 111,600 0 0 111,600 04 111,600 0 0 PRINCIPAL FINANCIAL GROUP Com 74251V102 131 5,600 0 0 5,600 04 5,600 0 0 PROCTER & GAMBLE CO/THE Com 742718109 37,817 630,482 0 0 630,482 04 630,482 0 0 Procter & Gamble Company Common US Com 742718109 434 7,200 0 0 7,200 01 7,200 0 0 PROGRESS ENERGY INC Com 743263105 1,580 40,274 0 0 40,274 04 40,274 0 0 PROGRESSIVE CORP Com 743315103 1,335 71,300 0 0 71,300 04 71,300 0 0 Progressive Corp. Common USD1.00 Com 743315103 48 2,560 0 0 2,560 01 2,560 0 0 PROLOGIS Com 743410102 1,693 167,100 0 0 167,100 04 167,100 0 0 Proshares Short S&P 500 Com 74347R503 4,277 77,757 0 0 77,757 01 77,757 0 0 PRUDENTIAL FINANCIAL INC Com 744320102 5,110 95,237 0 0 95,237 04 95,237 0 0 PS BUSINESS PARKS INC/CA Com 69360J107 203 3,640 0 0 3,640 04 3,640 0 0 PUBLIC STORAGE Com 74460D109 6,505 74,000 0 0 74,000 04 74,000 0 0 PULTE GROUP INC Com 745867101 1,210 146,100 0 0 146,100 04 146,100 0 0 QLOGIC CORP Com 747277101 665 40,000 0 0 40,000 04 40,000 0 0 QUALCOMM INC Com 747525103 9,377 285,540 0 0 285,540 04 285,540 0 0 Qualcomm Inc. Com. USD0.0001 Com 747525103 31 940 0 0 940 01 940 0 0 QUANTA SERVICES INC Com 74762E102 7,242 350,700 0 0 350,700 04 350,700 0 0 Quest Diagnostics Inc. Common USD0 Com 74834L100 24 490 0 0 490 01 490 0 0 QUEST DIAGNOSTICS Com 74834L100 3,026 60,800 0 0 60,800 04 60,800 0 0 --------- 91,441 Form 13F Information Table GAM USA Inc. Page 31 of 40 1 2 3 4 5 6 7 8 Mkt Value -Investment Discretion- Other --- Voting Authority --- Name of Issuer Type CUSIP $ x1000 # Shares Sole Shared Managers Sole Shared None QWEST COMMUNICATIONS INTL Com 749121109 164 31,200 0 0 31,200 04 31,200 0 0 R.R. Donnelley & Sons Co. Comm. US Com 257867101 3,274 200,000 0 0 200,000 01 200,000 0 0 RALCORP HOLDINGS INC Com 751028101 60 1,100 0 0 1,100 04 1,100 0 0 RANDGOLD RESOURCES LTD-ADR Com 752344309 2,677 28,250 0 0 28,250 04 28,250 0 0 RANGE RESOURCES CORP Com 75281A109 1,718 42,800 0 0 42,800 04 42,800 0 0 RAYTHEON COMPANY Com 755111507 2,279 47,100 0 0 47,100 04 47,100 0 0 RED HAT INC Com 756577102 671 23,200 0 0 23,200 04 23,200 0 0 REGENCY CENTERS CORP Com 758849103 2,150 62,500 0 0 62,500 04 62,500 0 0 REGENERON PHARMACEUTICALS Com 75886F107 223 10,000 0 0 10,000 04 10,000 0 0 REGIONS FINANCIAL CORP Com 7591EP100 2,886 438,643 0 0 438,643 04 438,643 0 0 REGIS CORP Com 758932107 587 37,670 0 0 37,670 04 37,670 0 0 REPUBLIC SERVICES INC Com 760759100 804 27,035 0 0 27,035 04 27,035 0 0 Retalix Limited ILS1.00 Com M8215W109 325 29,021 0 0 29,021 01 29,021 0 0 RIO TINTO PLC-SPON ADR Com 767204100 253 5,810 0 0 5,810 04 5,810 0 0 ROBERT HALF INTL INC Com 770323103 999 42,400 0 0 42,400 04 42,400 0 0 ROCKWELL AUTOMATION INC Com 773903109 133 2,700 0 0 2,700 04 2,700 0 0 ROCKWELL COLLINS INC. Com 774341101 149 2,800 0 0 2,800 04 2,800 0 0 ROPER INDUSTRIES INC Com 776696106 492 8,800 0 0 8,800 04 8,800 0 0 ROSS STORES INC Com 778296103 4,460 83,700 0 0 83,700 04 83,700 0 0 ROVI CORP Com 779376102 303 8,000 0 0 8,000 04 8,000 0 0 ROWAN COMPANIES INC Com 779382100 2,233 101,800 0 0 101,800 04 101,800 0 0 Royal Bk. of Scot. Grp. 6.4% Pfd. Pref 780097796 164 14,800 0 0 14,800 04 14,800 0 0 RR DONNELLEY & SONS CO Com 257867101 57 3,500 0 0 3,500 04 3,500 0 0 RUE21 INC Com 781295100 303 10,000 0 0 10,000 04 10,000 0 0 Ryanair Holdings PLC ADR (1 rep. 5 Com 783513104 706 26,080 0 0 26,080 02 26,080 0 0 --------- 28,072 Form 13F Information Table GAM USA Inc. Page 32 of 40 1 2 3 4 5 6 7 8 Mkt Value -Investment Discretion- Other --- Voting Authority --- Name of Issuer Type CUSIP $ x1000 # Shares Sole Shared Managers Sole Shared None Ryanair Holdings PLC ADR (1 rep. 5 Com 783513104 59 2,170 0 0 2,170 01 2,170 0 0 RYDER SYSTEM INC Com 783549108 402 10,000 0 0 10,000 04 10,000 0 0 SAFEWAY INC Com 786514208 1,480 75,280 0 0 75,280 04 75,280 0 0 Safeway Inc. Common USD0.01 Com 786514208 27 1,370 0 0 1,370 01 1,370 0 0 SAKS INC Com 79377W108 771 101,540 0 0 101,540 04 101,540 0 0 SALESFORCE.COM INC Com 79466L302 180 2,100 0 0 2,100 04 2,100 0 0 SALIX PHARMACEUTICALS LTD Com 795435106 468 12,000 0 0 12,000 04 12,000 0 0 SANDISK CORP Com 80004C101 1,119 26,600 0 0 26,600 04 26,600 0 0 SAP AG Sponsored ADR (1 ADR rep. 1 Com 803054204 41 930 0 0 930 01 930 0 0 SARA LEE CORP Com 803111103 4,069 288,600 0 0 288,600 04 288,600 0 0 Sara Lee Corporation Common USD0.0 Com 803111103 17,641 1,252,026 0 0 1,252,026 01 1,252,026 0 0 Sara Lee Corporation Common USD0.0 Com 803111103 60,342 4,283,223 0 0 4,283,223 02 4,283,223 0 0 SASOL LTD-SPONSORED ADR Com 803866300 197 5,579 0 0 5,579 04 5,579 0 0 SBA COMMUNICATIONS CORP-CL A Com 78388J106 75 2,200 0 0 2,200 04 2,200 0 0 SCHLUMBERGER LTD Com 806857108 11,326 204,670 0 0 204,670 04 204,670 0 0 Schlumberger Ltd. Com. USD0.01 Com 806857108 981 17,730 0 0 17,730 02 17,730 0 0 Schlumberger Ltd. Com. USD0.01 Com 806857108 39 710 0 0 710 01 710 0 0 SCHWAB (CHARLES) CORP Com 808513105 1,534 108,200 0 0 108,200 04 108,200 0 0 SCHWEITZER-MAUDUIT INTL INC Com 808541106 202 4,000 0 0 4,000 04 4,000 0 0 SCRIPPS NETWORKS INTER-CL A Com 811065101 77 1,900 0 0 1,900 04 1,900 0 0 Seagate Technology Com. USD0.00001 Com G7945J104 3,914 300,000 0 0 300,000 01 300,000 0 0 SEALED AIR CORP Com 81211K100 49 2,500 0 0 2,500 04 2,500 0 0 SEARS HOLDINGS CORP Com 812350106 58 900 0 0 900 04 900 0 0 SEI INVESTMENTS COMPANY Com 784117103 47 2,300 0 0 2,300 04 2,300 0 0 --------- 105,099 Form 13F Information Table GAM USA Inc. Page 33 of 40 1 2 3 4 5 6 7 8 Mkt Value -Investment Discretion- Other --- Voting Authority --- Name of Issuer Type CUSIP $ x1000 # Shares Sole Shared Managers Sole Shared None SEMPRA ENERGY Com 816851109 3,851 82,300 0 0 82,300 04 82,300 0 0 Shanda Interact. Spon ADR (1 Rep 2 Com 81941Q203 19 470 0 0 470 01 470 0 0 SHAW GROUP INC Com 820280105 1,027 30,000 0 0 30,000 04 30,000 0 0 Sherwin-Williams Co. Common USD1.0 Com 824348106 28 400 0 0 400 01 400 0 0 SHERWIN-WILLIAMS CO/THE Com 824348106 810 11,700 0 0 11,700 04 11,700 0 0 SHIRE PLC-ADR Com 82481R106 491 8,000 0 0 8,000 04 8,000 0 0 SIGMA-ALDRICH Com 826552101 3,219 64,600 0 0 64,600 04 64,600 0 0 SIMON PROPERTY GROUP INC Com 828806109 15,384 190,520 0 0 190,520 04 190,520 0 0 Sirius Xm Radio 3.25% Cnv. 15-10-2 Bond 82966UAD5 242 250,000 0 0 250,000 01 250,000 0 0 SK TELECOM CO LTD-ADR Com 78440P108 2,195 149,017 0 0 149,017 04 149,017 0 0 SK Telecom Co. Ltd. ADR (9 rep. 1 Com 78440P108 38 2,610 0 0 2,610 01 2,610 0 0 SL GREEN REALTY CORP Com 78440X101 941 17,100 0 0 17,100 04 17,100 0 0 SLM CORP Com 78442P106 730 70,300 0 0 70,300 04 70,300 0 0 SMITH INTERNATIONAL INC Com 832110100 169 4,500 0 0 4,500 04 4,500 0 0 SOHU.COM INC Com 83408W103 378 9,200 0 0 9,200 04 9,200 0 0 SOUTHERN CO Com 842587107 1,488 44,700 0 0 44,700 04 44,700 0 0 SOUTHERN COPPER CORP Com 84265V105 6,586 248,142 0 0 248,142 04 248,142 0 0 SOUTHWEST AIRLINES CO Com 844741108 1,142 102,800 0 0 102,800 04 102,800 0 0 Southwest Airlines Co. Common USD1 Com 844741108 37 3,340 0 0 3,340 01 3,340 0 0 SPDR GOLD TRUST Com 78463V107 608 5,000 0 0 5,000 04 5,000 0 0 SPDR Gold Trust Com 78463V107 487 4,000 0 0 4,000 01 4,000 0 0 SPDR Trust Unit Series 1 Com 78462F103 3,610 35,016 0 0 35,016 01 35,016 0 0 SPIRIT AEROSYSTEMS HOLD-CL A Com 848574109 387 20,280 0 0 20,280 04 20,280 0 0 SPRINT NEXTEL CORP Com 852061100 1,517 357,800 0 0 357,800 04 357,800 0 0 --------- 45,383 Form 13F Information Table GAM USA Inc. Page 34 of 40 1 2 3 4 5 6 7 8 Mkt Value -Investment Discretion- Other --- Voting Authority --- Name of Issuer Type CUSIP $ x1000 # Shares Sole Shared Managers Sole Shared None Sprint Nextel Corp. Common USD2.00 Com 852061100 8,498 2,004,211 0 0 2,004,211 01 2,004,211 0 0 Sprint Nextel Corp. Common USD2.00 Com 852061100 28,460 6,715,381 0 0 6,715,381 02 6,715,381 0 0 SPX CORP Com 784635104 53 1,000 0 0 1,000 04 1,000 0 0 ST JUDE MEDICAL INC Com 790849103 1,519 42,100 0 0 42,100 04 42,100 0 0 St. Joe Corporation Common NPV Com 790148100 2,177 93,930 0 0 93,930 02 01 93,930 0 0 STANLEY BLACK & DECKER INC Com 854502101 125 2,475 0 0 2,475 04 2,475 0 0 STAPLES INC Com 855030102 827 43,400 0 0 43,400 04 43,400 0 0 STARBUCKS CORP Com 855244109 3,808 156,700 0 0 156,700 04 156,700 0 0 STARWOOD HOTELS & RESORTS Com 85590A401 4,985 120,320 0 0 120,320 04 120,320 0 0 STATE STREET CORP Com 857477103 1,659 49,062 0 0 49,062 04 49,062 0 0 STERICYCLE INC Com 858912108 413 6,300 0 0 6,300 04 6,300 0 0 Stewart Enterprise 3.125% Cv. 15-0 Bond 860370AH8 87 100,000 0 0 100,000 01 100,000 0 0 STILLWATER MINING CO Com 86074Q102 3,417 294,040 0 0 294,040 04 294,040 0 0 STRYKER CORP Com 863667101 4,641 92,700 0 0 92,700 04 92,700 0 0 SUN COMMUNITIES INC Com 866674104 117 4,500 0 0 4,500 04 4,500 0 0 SUNOCO INC Com 86764P109 417 12,000 0 0 12,000 04 12,000 0 0 SUNPOWER CORP-CLASS A Com 867652109 145 12,000 0 0 12,000 04 12,000 0 0 SUNTRUST BANKS INC Com 867914103 2,251 96,600 0 0 96,600 04 96,600 0 0 SUPERVALU INC Com 868536103 41 3,800 0 0 3,800 04 3,800 0 0 SUSQUEHANNA BANCSHARES INC Com 869099101 356 42,700 0 0 42,700 04 42,700 0 0 SYMANTEC CORP Com 871503108 1,690 121,740 0 0 121,740 04 121,740 0 0 Synalloy Corporation Common USD1.0 Com 871565107 288 33,750 0 0 33,750 01 33,750 0 0 SYNOPSYS INC Com 871607107 65 3,100 0 0 3,100 04 3,100 0 0 SYSCO CORP Com 871829107 1,310 45,860 0 0 45,860 04 45,860 0 0 T ROWE PRICE GROUP INC Com 74144T108 209 4,700 0 0 4,700 04 4,700 0 0 --------- 67,557 Form 13F Information Table GAM USA Inc. Page 35 of 40 1 2 3 4 5 6 7 8 Mkt Value -Investment Discretion- Other --- Voting Authority --- Name of Issuer Type CUSIP $ x1000 # Shares Sole Shared Managers Sole Shared None Taiwan Semi. - SP ADR (1 Rep 5 Ord Com 874039100 441 44,923 0 0 44,923 01 44,923 0 0 TAIWAN SEMICONDUCTOR-SP ADR Com 874039100 2,869 293,961 0 0 293,961 04 293,961 0 0 TANGER FACTORY OUTLET CENTER Com 875465106 385 9,300 0 0 9,300 04 9,300 0 0 TARGET CORP Com 87612E106 5,571 113,300 0 0 113,300 04 113,300 0 0 TECHNOLOGY SELECT SECT SPDR Com 81369Y803 306 15,000 0 0 15,000 04 15,000 0 0 TECO ENERGY INC Com 872375100 301 20,000 0 0 20,000 04 20,000 0 0 TELE NORTE LESTE PART-ADR Com 879246106 1,153 77,039 0 0 77,039 04 77,039 0 0 Telecom Argentina SA Spons. (1 Rep Com 879273209 542 33,000 0 0 33,000 01 33,000 0 0 TELEKOMUNIK INDONESIA-SP ADR Com 715684106 252 7,353 0 0 7,353 04 7,353 0 0 TELEPHONE AND DATA SYSTEMS Com 879433100 24 800 0 0 800 04 800 0 0 Tellabs Incorporated Common USD0.0 Com 879664100 959 150,000 0 0 150,000 04 150,000 0 0 Tellabs Incorporated Common USD0.0 Com 879664100 6,186 967,370 0 0 967,370 01 967,370 0 0 Tellabs Incorporated Common USD0.0 Com 879664100 20,698 3,237,133 0 0 3,237,133 02 3,237,133 0 0 Tenaris SA ADR (1 ADR Rep. 2 Ord.) Com 88031M109 546 15,750 0 0 15,750 01 15,750 0 0 Tenet Healthcare Corp. Com. USD0.0 Com 88033G100 652 150,000 0 0 150,000 01 150,000 0 0 TENNECO INC Com 880349105 828 39,330 0 0 39,330 04 39,330 0 0 TERADYNE INC Com 880770102 176 18,000 0 0 18,000 04 18,000 0 0 Teradyne Inc. Common USD0.125 Com 880770102 3,902 400,000 0 0 400,000 01 400,000 0 0 Teradyne Inc. Common USD0.125 Com 880770102 2,927 300,000 0 0 300,000 02 300,000 0 0 TETRA TECHNOLOGIES INC Com 88162F105 908 100,000 0 0 100,000 04 100,000 0 0 Teva Pharmaceuticals ADR (1 Rep 1 Com 881624209 486 9,350 0 0 9,350 04 9,350 0 0 Teva Pharmaceuticals ADR (1 Rep 1 Com 881624209 900 17,300 0 0 17,300 01 17,300 0 0 Teva Pharmaceuticals ADR (1 Rep 1 Com 881624209 536 10,317 0 0 10,317 01 10,317 0 0 TEXAS INSTRUMENTS INC Com 882508104 12,730 546,800 0 0 546,800 04 546,800 0 0 Texas Instruments Inc. Common USD1 Com 882508104 488 20,410 0 0 20,410 01 20,410 0 0 TEXTRON INC Com 883203101 458 27,010 0 0 27,010 04 27,010 0 0 TFS FINANCIAL CORP Com 87240R107 27 2,200 0 0 2,200 04 2,200 0 0 --------- 65,249 Form 13F Information Table GAM USA Inc. Page 36 of 40 1 2 3 4 5 6 7 8 Mkt Value -Investment Discretion- Other --- Voting Authority --- Name of Issuer Type CUSIP $ x1000 # Shares Sole Shared Managers Sole Shared None The Walt Disney Company Common USD Com 254687106 49 1,550 0 0 1,550 01 1,550 0 0 Thermo Electron Corp. Com. USD1.00 Com 883556102 37 760 0 0 760 01 760 0 0 THERMO FISHER SCIENTIFIC INC Com 883556102 2,584 52,690 0 0 52,690 04 52,690 0 0 TIDEWATER INC Com 886423102 2,180 56,300 0 0 56,300 04 56,300 0 0 Tidewater Incorporated Common USD0 Com 886423102 413 10,670 0 0 10,670 02 10,670 0 0 TIFFANY & CO Com 886547108 2,593 68,400 0 0 68,400 04 68,400 0 0 TIME WARNER CABLE Com 88732J207 5,424 104,140 0 0 104,140 04 104,140 0 0 TIME WARNER INC Com 887317303 4,778 165,265 0 0 165,265 04 165,265 0 0 Time Warner Inc. Common USD0.01 Com 887317303 36 1,250 0 0 1,250 01 1,250 0 0 Titan International Inc. Common NP Com 88830M102 888 89,110 0 0 89,110 02 89,110 0 0 TJX COMPANIES INC Com 872540109 2,005 47,800 0 0 47,800 04 47,800 0 0 TOLL BROTHERS INC Com 889478103 43 2,600 0 0 2,600 04 2,600 0 0 TORCHMARK CORP Com 891027104 74 1,500 0 0 1,500 04 1,500 0 0 TOTAL SYSTEM SERVICES INC Com 891906109 38 2,803 0 0 2,803 04 2,803 0 0 Toyota Motor Corporation Spon. ADR Com 892331307 203 2,965 0 0 2,965 01 2,965 0 0 TRANSATLANTIC HOLDINGS INC Com 893521104 67 1,400 0 0 1,400 04 1,400 0 0 Transocean Ltd. Com. CHF15.00 Com H8817H100 2,599 56,130 0 0 56,130 02 01 56,130 0 0 TREEHOUSE FOODS INC Com 89469A104 356 7,800 0 0 7,800 04 7,800 0 0 Trimble Navigation Ltd. Common NPV Com 896239100 146 5,220 0 0 5,220 02 5,220 0 0 TRINA SOLAR LTD-SPON ADR Com 89628E104 1,889 109,300 0 0 109,300 04 109,300 0 0 Trina Solar Ltd. ADR (1 Rep 100 Or Com 89628E104 21 1,200 0 0 1,200 01 1,200 0 0 Trinity Industries Inc. Common USD Com 896522109 388 21,860 0 0 21,860 02 21,860 0 0 TRUE RELIGION APPAREL INC Com 89784N104 927 42,000 0 0 42,000 04 42,000 0 0 TRW AUTOMOTIVE HOLDINGS CORP Com 87264S106 1,021 37,050 0 0 37,050 04 37,050 0 0 TYSON FOODS INC-CL A Com 902494103 95 5,800 0 0 5,800 04 5,800 0 0 --------- 28,855 Form 13F Information Table GAM USA Inc. Page 37 of 40 1 2 3 4 5 6 7 8 Mkt Value -Investment Discretion- Other --- Voting Authority --- Name of Issuer Type CUSIP $ x1000 # Shares Sole Shared Managers Sole Shared None UAL CORP Com 902549807 637 31,000 0 0 31,000 04 31,000 0 0 UDR INC Com 902653104 632 33,025 0 0 33,025 04 33,025 0 0 ULTRA PETROLEUM CORP Com 903914109 889 20,100 0 0 20,100 04 20,100 0 0 Unilever PLC - Spon. ADR (1 Rep. 1 Com 904767704 51 1,910 0 0 1,910 01 1,910 0 0 UNION PACIFIC CORP Com 907818108 5,178 74,500 0 0 74,500 04 74,500 0 0 UNITED PARCEL SERVICE-CL B Com 911312106 7,783 136,800 0 0 136,800 04 136,800 0 0 United Parcel Service Com.Cls B US Com 911312106 342 6,020 0 0 6,020 02 6,020 0 0 United Parcel Service Com.Cls B US Com 911312106 56 990 0 0 990 01 990 0 0 UNITED STATES STEEL CORP Com 912909108 1,168 30,300 0 0 30,300 04 30,300 0 0 UNITED TECHNOLOGIES CORP Com 913017109 13,954 214,970 0 0 214,970 04 214,970 0 0 UNITED THERAPEUTICS CORP Com 91307C102 537 11,000 0 0 11,000 04 11,000 0 0 UNITEDHEALTH GROUP INC Com 91324P102 6,827 240,380 0 0 240,380 04 240,380 0 0 UNUM GROUP Com 91529Y106 128 5,900 0 0 5,900 04 5,900 0 0 URBAN OUTFITTERS INC Com 917047102 79 2,300 0 0 2,300 04 2,300 0 0 US AIRWAYS GROUP INC Com 90341W108 344 40,000 0 0 40,000 04 40,000 0 0 US BANCORP Com 902973304 6,354 284,300 0 0 284,300 04 284,300 0 0 USA Truck Incorporated Common USD0 Com 902925106 8,065 500,000 0 0 500,000 01 500,000 0 0 UTILITIES HOLDRS TRUST Com 918019100 889 10,000 0 0 10,000 04 10,000 0 0 UTILITIES SELECT SECTOR SPDR Com 81369Y886 2,543 90,000 0 0 90,000 04 90,000 0 0 VALE SA-SP ADR Com 91912E105 14,099 579,004 0 0 579,004 04 579,004 0 0 Vale SA - SP ADR (1 Reps. 1 Ord.) Com 91912E105 492 20,200 0 0 20,200 01 20,200 0 0 Vale SA - SP ADR (1 Reps. 1 Ord.) Com 91912E105 576 23,670 0 0 23,670 02 23,670 0 0 VALERO ENERGY CORP Com 91913Y100 2,595 144,300 0 0 144,300 04 144,300 0 0 Vanguard Financials ETF Com 92204A405 1,417 48,850 0 0 48,850 01 48,850 0 0 Vanguard Info Technology ETF Com 92204A702 105 2,114 0 0 2,114 01 2,114 0 0 --------- 75,740 Form 13F Information Table GAM USA Inc. Page 38 of 40 1 2 3 4 5 6 7 8 Mkt Value -Investment Discretion- Other --- Voting Authority --- Name of Issuer Type CUSIP $ x1000 # Shares Sole Shared Managers Sole Shared None VARIAN MEDICAL SYSTEMS INC Com 92220P105 2,070 39,600 0 0 39,600 04 39,600 0 0 VEECO INSTRUMENTS INC Com 922417100 435 12,700 0 0 12,700 04 12,700 0 0 VENTAS INC Com 92276F100 2,531 53,900 0 0 53,900 04 53,900 0 0 VERIFONE SYSTEMS INC Com 92342Y109 653 34,480 0 0 34,480 04 34,480 0 0 VERISIGN INC Com 92343E102 98 3,700 0 0 3,700 04 3,700 0 0 VERISK ANALYTICS INC-CLASS A Com 92345Y106 60 2,000 0 0 2,000 04 2,000 0 0 VERIZON COMMUNICATIONS INC Com 92343V104 12,457 444,567 0 0 444,567 04 444,567 0 0 VERTEX PHARMACEUTICALS INC Com 92532F100 1,375 41,800 0 0 41,800 04 41,800 0 0 VF CORP Com 918204108 3,851 54,100 0 0 54,100 04 54,100 0 0 VIACOM INC-CLASS B Com 92553P201 3,928 125,220 0 0 125,220 04 125,220 0 0 Viad Corporation Common USD 1.50 Com 92552R406 185 10,500 0 0 10,500 01 10,500 0 0 VIRGIN MEDIA INC Com 92769L101 98 5,900 0 0 5,900 04 5,900 0 0 Virgin Media Inc. Com. USD0.01 Com 92769L101 4,007 240,000 0 0 240,000 01 240,000 0 0 Virgin Media Inc. Com. USD0.01 Com 92769L101 4,007 240,000 0 0 240,000 02 240,000 0 0 Virgin Media Inc. Com. USD0.01 Com 92769L101 25 1,490 0 0 1,490 01 1,490 0 0 VIROPHARMA INC Com 928241108 112 10,000 0 0 10,000 04 10,000 0 0 VISA INC-CLASS A SHARES Com 92826C839 8,659 122,384 0 0 122,384 04 122,384 0 0 Visa Inc. Class A Common USD0.0001 Com 92826C839 5,662 80,000 0 0 80,000 01 80,000 0 0 Visa Inc. Class A Common USD0.0001 Com 92826C839 1,911 27,000 0 0 27,000 02 27,000 0 0 VITAMIN SHOPPE INC Com 92849E101 385 15,000 0 0 15,000 04 15,000 0 0 VORNADO REALTY TRUST Com 929042109 6,849 93,893 0 0 93,893 04 93,893 0 0 VULCAN MATERIALS CO Com 929160109 890 20,300 0 0 20,300 04 20,300 0 0 Vulcan Materials Company Common US Com 929160109 667 15,210 0 0 15,210 02 15,210 0 0 Wabtec Corporation Common USD0.01 Com 929740108 413 10,360 0 0 10,360 02 10,360 0 0 WAL-MART STORES INC Com 931142103 37,151 772,860 0 0 772,860 04 772,860 0 0 --------- 98,479 Form 13F Information Table GAM USA Inc. Page 39 of 40 1 2 3 4 5 6 7 8 Mkt Value -Investment Discretion- Other --- Voting Authority --- Name of Issuer Type CUSIP $ x1000 # Shares Sole Shared Managers Sole Shared None WALGREEN CO Com 931422109 7,516 281,490 0 0 281,490 04 281,490 0 0 Walgreen Company Common USD0.07812 Com 931422109 1,964 73,580 0 0 73,580 02 01 73,580 0 0 WALT DISNEY CO/THE Com 254687106 7,017 222,760 0 0 222,760 04 222,760 0 0 WALTER ENERGY INC Com 93317Q105 28 460 0 0 460 04 460 0 0 WASHINGTON POST-CLASS B Com 939640108 41 100 0 0 100 04 100 0 0 Washington Post Class B Com. USD1. Com 939640108 20 50 0 0 50 01 50 0 0 WASTE MANAGEMENT INC Com 94106L109 4,068 130,000 0 0 130,000 04 130,000 0 0 Waste Management Inc. Com. USD0.01 Com 94106L109 39 1,240 0 0 1,240 01 1,240 0 0 WATERS CORP Com 941848103 1,954 30,200 0 0 30,200 04 30,200 0 0 WATSON PHARMACEUTICALS INC Com 942683103 65 1,600 0 0 1,600 04 1,600 0 0 WEATHERFORD INTL LTD Com H27013103 690 52,500 0 0 52,500 04 52,500 0 0 Weatherford Intl. Ltd. Com. USD1.0 Com H27013103 833 63,340 0 0 63,340 02 63,340 0 0 Weatherford Intl. Ltd. Com. USD1.0 Com H27013103 45 3,410 0 0 3,410 01 3,410 0 0 WEINGARTEN REALTY INVESTORS Com 948741103 469 24,600 0 0 24,600 04 24,600 0 0 WELLPOINT INC Com 94973V107 2,212 45,200 0 0 45,200 04 45,200 0 0 WELLS FARGO & CO Com 949746101 16,726 653,358 0 0 653,358 04 653,358 0 0 Wells Fargo & Co. Com. USD1.666 Com 949746101 2,173 84,749 0 0 84,749 01 84,749 0 0 WESTERN DIGITAL CORP Com 958102105 2,444 81,050 0 0 81,050 04 81,050 0 0 WESTERN UNION CO Com 959802109 1,832 122,900 0 0 122,900 04 122,900 0 0 Western Union Corp. Common USD0.01 Com 959802109 39 2,610 0 0 2,610 01 2,610 0 0 WEYERHAEUSER CO Com 962166104 135 3,844 0 0 3,844 04 3,844 0 0 Weyerhaeuser Company Common USD1.2 Com 962166104 1,032 29,300 0 0 29,300 01 29,300 0 0 Weyerhaeuser Company Common USD1.2 Com 962166104 3,531 100,300 0 0 100,300 02 100,300 0 0 WHIRLPOOL CORP Com 963320106 3,167 36,060 0 0 36,060 04 36,060 0 0 WHITE MOUNTAINS INSURANCE GP Com G9618E107 44 136 0 0 136 04 136 0 0 --------- 58,083 Form 13F Information Table GAM USA Inc. Page 40 of 40 1 2 3 4 5 6 7 8 Mkt Value -Investment Discretion- Other --- Voting Authority --- Name of Issuer Type CUSIP $ x1000 # Shares Sole Shared Managers Sole Shared None WHOLE FOODS MARKET INC Com 966837106 861 23,900 0 0 23,900 04 23,900 0 0 Williams-Sonoma Inc. Common USD0.0 Com 969904101 4,475 180,250 0 0 180,250 02 01 180,250 0 0 Williams Companies Inc. Common USD Com 969457100 1,143 62,537 0 0 62,537 01 62,537 0 0 WILLIAMS COS INC Com 969457100 2,347 128,400 0 0 128,400 04 128,400 0 0 Willis Group Hdgs. PLC Com. USD0.0 Com G96666105 34 1,140 0 0 1,140 01 1,140 0 0 WILLIS GROUP HOLDINGS PLC Com G96666105 99 3,300 0 0 3,300 04 3,300 0 0 WIMM-BILL-DANN FOODS-ADR Com 97263M109 356 20,000 0 0 20,000 04 20,000 0 0 WINDSTREAM CORP Com 97381W104 80 7,600 0 0 7,600 04 7,600 0 0 WISCONSIN ENERGY CORP Com 976657106 3,181 62,700 0 0 62,700 04 62,700 0 0 WR BERKLEY CORP Com 084423102 71 2,700 0 0 2,700 04 2,700 0 0 WR Berkley Corp. Common USD0.20 Com 084423102 7,940 300,000 0 0 300,000 01 300,000 0 0 WW GRAINGER INC Com 384802104 1,124 11,300 0 0 11,300 04 11,300 0 0 XCEL ENERGY INC Com 98389B100 173 8,400 0 0 8,400 04 8,400 0 0 XEROX CORP Com 984121103 1,817 226,000 0 0 226,000 04 226,000 0 0 XILINX INC Com 983919101 1,243 49,200 0 0 49,200 04 49,200 0 0 Xilinx Inc. Common USD0.01 Com 983919101 6,441 255,000 0 0 255,000 01 255,000 0 0 Xilinx Inc. Common USD0.01 Com 983919101 2,652 105,000 0 0 105,000 02 105,000 0 0 XL CAPITAL LTD -CLASS A Com G98255105 903 56,400 0 0 56,400 04 56,400 0 0 YAHOO! INC Com 984332106 1,792 129,600 0 0 129,600 04 129,600 0 0 Yingli Green En. Hdg. ADR (1Rep. 1 Com 98584B103 29 2,870 0 0 2,870 01 2,870 0 0 YINGLI GREEN ENERGY HOLD-ADR Com 98584B103 823 80,800 0 0 80,800 04 80,800 0 0 YUM! BRANDS INC Com 988498101 2,678 68,600 0 0 68,600 04 68,600 0 0 Yum! Brands Inc. Com. NPV Com 988498101 4,302 110,140 0 0 110,140 02 01 110,140 0 0 ZIMMER HOLDINGS INC Com 98956P102 1,440 26,650 0 0 26,650 04 26,650 0 0 ZIONS BANCORPORATION Com 989701107 2,750 127,480 0 0 127,480 04 127,480 0 0 --------- 48,755 ========= 3,021,141
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