13F-HR 1 adar_13f20101231.txt 13F 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, 2010 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: ADAR Investment Management LLC Address: 156 West 56th Street, Suite 801 New York, New York 10019 Form 13F File Number: 028-11211 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: Aaron Morse Title: Chief Operating Officer Phone: (212) 373-8900 Signature, Place, and Date of Signing: /s/ Aaron Morse New York, New York February 14, 2011 --------------- ------------------ ------------------ [Signature] [City, State] [Date] Report Type (Check only one): [X] 13F HOLDINGS REPORT. (Check here if all holdings of this reporting manager are reported in this report.) [ ] 13F NOTICE. (Check here if no holdings reported are in this report, and all holdings are reported by other reporting manager(s).) [ ] 13F COMBINATION REPORT. (Check here if a portion of the holdings for this reporting manager is reported in this report and a portion is reported by other reporting manager(s).) FORM 13 F SUMMARY PAGE Report Summary: Number of Other Included Managers: 0 Form 13F Information Table Entry Total: 65 Form 13F Information Table Value Total: $180,363 (thousands) List of Other Included Managers: FORM 13F INFORMATION TABLE Name of Reporting Manager: ADAR Investment Management LLC For Quarter Ended: December 31, 2010 Item 8: Item 1: Item 2: Item 3: Item 4: Item 5: Item 6: Item 7: Voting Authority Name of Title of CUSIP Fair Shares Sh/ Put/ Inv. Other (a) (b) (c) Issuer Class Number Market or Prn Call Discr. Mgrs Sole SharedNone Value Principal (X$1000) Amount ABBOTT LABS COM 002824100 283 5,899 SH SOLE 5,899 ACE LTD SHS H0023R105 3,370 54,138 SH SOLE 54,138 AIRGAS INC COM 009363102 280 4,477 SH SOLE 4,477 AMERICAN EXPRESS CO COM 025816109 4,807 112,000 SH SOLE 112,000 AMERICAN INTL GROUP INC COM 026874954 5,792 120,000 SH Put SOLE 120,000 APOLLO GROUP INC CL A 037604105 280 7,094 SH SOLE 7,094 ARCHER DANIELS MIDLAND CO COM 039483102 282 9,375 SH SOLE 9,375 BANK OF AMERICA CORPORATI COM 060505104 5,767 432,345 SH SOLE 432,345 BIG LOTS INC COM 089302103 279 9,172 SH SOLE 9,172 CAPITAL ONE FINL CORP COM 14040H105 5,795 136,158 SH SOLE 136,158 CAMPBELL SOUP CO COM 134429109 281 8,092 SH SOLE 8,092 CBS CORP NEW CL B 124857202 9,223 484,133 SH SOLE 484,133 CLOROX CO DEL COM 189054109 278 4,400 SH SOLE 4,400 CISCO SYS INC COM 17275R102 280 13,828 SH SOLE 13,828 DEAN FOODS CO NEW COM 242370104 291 32,912 SH SOLE 32,912 DR PEPPER SNAPPLE GROUP I COM 26138E109 276 7,840 SH SOLE 7,840 DTE ENERGY CO COM 233331107 280 6,181 SH SOLE 6,181 DYNEX CAP INC COM NEW 26817Q506 1,935 177,156 SH SOLE 177,156 EATON VANCE LTD DUR INCOM COM 27828H105 490 30,500 SH SOLE 30,500 EQUINIX INC COM NEW 29444U502 13,527 166,462 SH SOLE 166,462 ENTERGY CORP NEW COM 29364G103 280 3,960 SH SOLE 3,960 GAIN CAP HLDGS INC COM 36268W100 2,612 283,948 SH SOLE 283,948 GENERAL MLS INC COM 370334104 281 7,884 SH SOLE 7,884 HORIZON TECHNOLOGY FIN CO COM 44045A102 363 25,125 SH SOLE 25,125 HORSEHEAD HLDG CORP COM 440694305 391 30,000 SH SOLE 30,000 ING PRIME RATE TR SH BEN INT 44977W106 303 53,300 SH SOLE 53,300 INVESCO VAN KAMP DYN CRDT COM 46132R104 607 49,700 SH SOLE 49,700 JPMORGAN CHASE & CO COM 46625H100 8,100 190,958 SH SOLE 190,958 JPMORGAN CHASE & CO *W EXP 10/28/201 46634E114 524 36,275 SH SOLE 36,275 KIMBERLY CLARK CORP COM 494368103 280 4,434 SH SOLE 4,434 KANSAS CITY SOUTHERN COM NEW 485170302 9,316 194,657 SH SOLE 194,657 LAS VEGAS SANDS CORP COM 517834107 7,536 164,011 SH SOLE 164,011 MARRIOTT INTL INC NEW CL A 571903202 3,885 93,530 SH SOLE 93,530 MCAFEE INC COM 579064106 280 6,036 SH SOLE 6,036 MVC CAPITAL INC COM 553829102 627 42,975 SH SOLE 42,975 NATIONAL CINEMEDIA INC COM 635309107 1,593 80,000 SH SOLE 80,000 NEXTERA ENERGY INC COM 65339F101 280 5,382 SH SOLE 5,382 NEWMONT MINING CORP COM 651639106 281 4,581 SH SOLE 4,581 NRG ENERGY INC COM NEW 629377508 280 14,331 SH SOLE 14,331 OMNICOM GROUP INC COM 681919106 3,112 67,950 SH SOLE 67,950 PENN NATL GAMING INC COM 707569109 6,372 181,267 SH SOLE 181,267 PLAINS EXPL& PRODTN CO COM 726505100 16,297 507,060 SH SOLE 507,060 POTASH CORP SASK INC COM 73755L107 6,835 44,146 SH SOLE 44,146 POWER ONE INC NEW COM 73930R102 5,092 499,263 SH SOLE 499,263 POWERSHARES QQQ TRUST UNIT SER 1 73935A104 4,217 77,423 SH SOLE 77,423 PPL CORP COM 69351T106 281 10,673 SH SOLE 10,673 PUBLIC SVC ENTERPRISE GRO COM 744573106 283 8,895 SH SOLE 8,895 PULTE GROUP INC COM 745867101 283 37,651 SH SOLE 37,651 RACKSPACE HOSTING INC COM 750086100 3,455 110,000 SH Put SOLE 110,000 SAVVIS INC COM NEW 805423308 927 36,337 SH SOLE 36,337 SEAHAWK DRILLING INC COM 81201R107 1,745 194,964 SH SOLE 194,964 SENIOR HSG PPTYS TR SH BEN INT 81721M109 3,600 164,065 SH SOLE 164,065 SOLAR CAP LTD COM 83413U100 853 34,406 SH SOLE 34,406 SPDR S&P 500 ETF TR TR UNIT 78462F103 2,893 23,000 SH SOLE 23,000 STARWOOD HOTELS&RESORTS W COM 85590A401 4,165 68,531 SH SOLE 68,531 STARWOOD PPTY TR INC COM 85571B105 1,074 50,000 SH SOLE 50,000 SUPERVALU INC COM 868536103 284 29,509 SH SOLE 29,509 TELLABS INC COM 879664100 286 42,131 SH SOLE 42,131 TIME WARNER CABLE INC COM 88732J207 1,321 20,000 SH SOLE 20,000 TITANIUM METALS CORP COM NEW 888339207 281 16,350 SH SOLE 16,350 TW TELECOM INC COM 87311L104 3,292 193,063 SH SOLE 193,063 VODAFONE GROUP PLC NEW SPONS ADR NEW 92857W209 4,819 182,296 SH SOLE 182,296 WYNDHAM WORLDWIDE CORP COM 98310W108 1,381 46,100 SH SOLE 46,100 XEROX CORP COM 984121103 6,015 522,136 SH SOLE 522,136 XL GROUP PLC SHS G98290102 9,586 439,316 SH SOLE 439,316