-----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, IrHRwp/FBVJW838cdh6AjB6mJNDwyaHqH5Wiv/WnH9ahwgkqMZl+gUlPRQtv6dI2 iUmr9JErVSEywH6r7P6iNw== 0000950117-10-001297.txt : 20101108 0000950117-10-001297.hdr.sgml : 20101108 20101108154553 ACCESSION NUMBER: 0000950117-10-001297 CONFORMED SUBMISSION TYPE: 13F-HR PUBLIC DOCUMENT COUNT: 1 CONFORMED PERIOD OF REPORT: 20100930 FILED AS OF DATE: 20101108 DATE AS OF CHANGE: 20101108 EFFECTIVENESS DATE: 20101108 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: 101172301 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 c63248_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: 09/30/10 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: Scott Sullivan Title: Group General Counsel Phone: 011-44-207-7917-2279 Signature, Place, and Date of Signing: Scott Sullivan London, United Kingdom 11/08/10 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: 3 Form 13F Information Table Entry Total: 904 Form 13F Information Table Value Total: $3,451,661 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 Swiss & Global Asset Management Ltd.
Form 13F Information Table GAM Holding Ltd. Page 1 of 37 1 2 3 4 5 6 7 8 Mkt Value -- Investment Discretion -- --- Voting Authority ---- Name of Issuer Type CUSIP $ x1000 # Shares Sole Shared Other Managers Sole Shared None 3M CO 88579Y101 23,393 269,780 0 0 269,780 03 269,780 0 0 ABBOTT LABORATORIES 002824100 17,862 341,920 0 0 341,920 03 341,920 0 0 ABERCROMBIE & FITCH CO-CL A 002896207 67 1,700 0 0 1,700 03 1,700 0 0 AbitibiBowater Inc. Common USD1.00 003687100 20 614,169 0 0 614,169 01 614,169 0 0 AbitibiBowater Inc. Common USD1.00 003687100 58 1,759,522 0 0 1,759,522 02 1,759,522 0 0 ACADIA REALTY TRUST 004239109 206 10,850 0 0 10,850 03 10,850 0 0 ACCENTURE PLC-CL A G1151C101 514 12,100 0 0 12,100 03 12,100 0 0 ACTIVISION BLIZZARD INC 00507V109 114 10,500 0 0 10,500 03 10,500 0 0 ACXIOM CORP 005125109 1,269 80,000 0 0 80,000 03 80,000 0 0 ADOBE SYSTEMS INC 00724F101 3,832 146,550 0 0 146,550 03 146,550 0 0 ADTRAN INC 00738A106 282 8,000 0 0 8,000 03 8,000 0 0 ADVANCE AUTO PARTS INC 00751Y106 94 1,600 0 0 1,600 03 1,600 0 0 ADVANCED MICRO DEVICES 007903107 264 37,100 0 0 37,100 03 37,100 0 0 AECOM TECHNOLOGY CORP 00766T100 182 7,500 0 0 7,500 03 7,500 0 0 AEROPOSTALE INC 007865108 326 14,000 0 0 14,000 03 14,000 0 0 AES CORP 00130H105 142 12,500 0 0 12,500 03 12,500 0 0 AETNA INC 00817Y108 1,833 58,000 0 0 58,000 03 58,000 0 0 AFLAC INC 001055102 4,980 96,300 0 0 96,300 03 96,300 0 0 AGCO CORP 001084102 250 6,400 0 0 6,400 03 6,400 0 0 AGCO Corporation Common USD0.01 001084102 2,360 60,490 0 0 60,490 01 60,490 0 0 AGILENT TECHNOLOGIES INC 00846U101 878 26,300 0 0 26,300 03 26,300 0 0 AIR PRODUCTS & CHEMICALS INC 009158106 2,559 30,900 0 0 30,900 03 30,900 0 0 AIRGAS INC 009363102 102 1,500 0 0 1,500 03 1,500 0 0 AirTran Holdings Inc. Common USD0. 00949P108 1,071 145,850 0 0 145,850 01 145,850 0 0 AK STEEL HOLDING CORP 001547108 124 9,000 0 0 9,000 03 9,000 0 0 --------- 62,781 Form 13F Information Table GAM Holding Ltd. Page 2 of 37 1 2 3 4 5 6 7 8 Mkt Value -- Investment Discretion -- --- Voting Authority ---- Name of Issuer Type CUSIP $ x1000 # Shares Sole Shared Other Managers Sole Shared None AKAMAI TECHNOLOGIES INC 00971T101 171 3,400 0 0 3,400 03 3,400 0 0 ALCOA INC 013817101 1,987 164,100 0 0 164,100 03 164,100 0 0 ALEXION PHARMACEUTICALS INC 015351109 644 10,000 0 0 10,000 03 10,000 0 0 ALLEGHENY ENERGY INC 017361106 74 3,000 0 0 3,000 03 3,000 0 0 ALLEGHENY TECHNOLOGIES INC 01741R102 70 1,500 0 0 1,500 03 1,500 0 0 ALLERGAN INC 018490102 2,255 33,890 0 0 33,890 03 33,890 0 0 ALLIANCE DATA SYSTEMS CORP 018581108 72 1,100 0 0 1,100 03 1,100 0 0 Alliance Data Systems Corp. Com. U 018581108 2,411 36,930 0 0 36,930 02 01 36,930 0 0 ALLSTATE CORP 020002101 1,246 39,500 0 0 39,500 03 39,500 0 0 ALPHA NATURAL RESOURCES INC 02076X102 4,778 116,120 0 0 116,120 03 116,120 0 0 ALTERA CORPORATION 021441100 477 15,800 0 0 15,800 03 15,800 0 0 ALTRIA GROUP INC 02209S103 8,218 342,150 0 0 342,150 03 342,150 0 0 AMAZON.COM INC 023135106 2,890 18,400 0 0 18,400 03 18,400 0 0 AMB PROPERTY CORP 00163T109 2,723 102,858 0 0 102,858 03 102,858 0 0 AMEREN CORPORATION 023608102 6,186 217,820 0 0 217,820 03 217,820 0 0 AMERESCO INC-CL A 02361E108 595 50,000 0 0 50,000 03 50,000 0 0 AMERICA MOVIL-ADR SERIES L 02364W105 1,045 19,600 0 0 19,600 03 19,600 0 0 America Movil-ADR SL NPV(1 Rep 20 02364W105 1,104 20,700 0 0 20,700 02 01 20,700 0 0 American Campus Communities Com. U 024835100 1,014 33,330 0 0 33,330 01 33,330 0 0 AMERICAN CAMPUS COMMUNITIES 024835100 756 24,829 0 0 24,829 03 24,829 0 0 AMERICAN EAGLE OUTFITTERS 02553E106 55 3,650 0 0 3,650 03 3,650 0 0 AMERICAN ELECTRIC POWER 025537101 1,655 45,681 0 0 45,681 03 45,681 0 0 AMERICAN EXPRESS CO 025816109 4,895 116,470 0 0 116,470 03 116,470 0 0 AMERICAN INTERNATIONAL GROUP 026874784 104 2,650 0 0 2,650 03 2,650 0 0 American Railcar Industries Common 02916P103 1,401 89,360 0 0 89,360 01 89,360 0 0 --------- 46,823 Form 13F Information Table GAM Holding Ltd. Page 3 of 37 1 2 3 4 5 6 7 8 Mkt Value -- Investment Discretion -- --- Voting Authority ---- Name of Issuer Type CUSIP $ x1000 # Shares Sole Shared Other Managers Sole Shared None AMERICAN SUPERCONDUCTOR CORP 030111108 644 20,700 0 0 20,700 03 20,700 0 0 AMERICAN TOWER CORP-CL A 029912201 2,435 47,500 0 0 47,500 03 47,500 0 0 AMERIPRISE FINANCIAL INC 03076C106 1,420 30,000 0 0 30,000 03 30,000 0 0 AMERISOURCEBERGEN CORP 03073E105 776 25,300 0 0 25,300 03 25,300 0 0 AMETEK INC 031100100 91 1,900 0 0 1,900 03 1,900 0 0 AMGEN INC 031162100 12,624 229,070 0 0 229,070 03 229,070 0 0 AMPHENOL CORP-CL A 032095101 147 3,000 0 0 3,000 03 3,000 0 0 AMYLIN PHARMACEUTICALS INC 032346108 250 12,000 0 0 12,000 03 12,000 0 0 ANADARKO PETROLEUM CORP 032511107 3,177 55,690 0 0 55,690 03 55,690 0 0 ANALOG DEVICES INC 032654105 963 30,700 0 0 30,700 03 30,700 0 0 ANGIODYNAMICS INC 03475V101 152 10,000 0 0 10,000 03 10,000 0 0 ANNALY CAPITAL MANAGEMENT IN 035710409 625 35,500 0 0 35,500 03 35,500 0 0 AOL INC 00184X105 3,755 151,702 0 0 151,702 03 151,702 0 0 AON CORP 037389103 180 4,600 0 0 4,600 03 4,600 0 0 APACHE CORP 037411105 9,874 101,002 0 0 101,002 03 101,002 0 0 APARTMENT INVT & MGMT CO -A 03748R101 648 30,305 0 0 30,305 03 30,305 0 0 APOLLO GROUP INC-CL A 037604105 2,509 48,870 0 0 48,870 03 48,870 0 0 APPLE INC 037833100 39,325 138,590 0 0 138,590 03 138,590 0 0 APPLIED MATERIALS INC 038222105 2,344 200,716 0 0 200,716 03 200,716 0 0 ARCELORMITTAL SA LUXEMBOURG NOTE 5 03938LAK0 4,460 5,000,000 0 0 5,000,000 01 5,000,000 0 0 ARCH COAL INC 039380100 80 3,000 0 0 3,000 03 3,000 0 0 ARCHER-DANIELS-MIDLAND CO 039483102 2,445 76,600 0 0 76,600 03 76,600 0 0 ARROW ELECTRONICS INC 042735100 56 2,100 0 0 2,100 03 2,100 0 0 ASSURANT INC 04621X108 98 2,400 0 0 2,400 03 2,400 0 0 ASTEC INDUSTRIES INC 046224101 223 7,800 0 0 7,800 03 7,800 0 0 --------- 89,301 Form 13F Information Table GAM Holding Ltd. Page 4 of 37 1 2 3 4 5 6 7 8 Mkt Value -- Investment Discretion -- --- Voting Authority ---- Name of Issuer Type CUSIP $ x1000 # Shares Sole Shared Other Managers Sole Shared None Astec Industries Inc. Common USD0. 046224101 1,838 64,430 0 0 64,430 01 64,430 0 0 AT&T INC 00206R102 35,504 1,241,406 0 0 1,241,406 03 1,241,406 0 0 AU OPTRONICS CORP-SPON ADR 002255107 194 18,500 0 0 18,500 03 18,500 0 0 AUTODESK INC 052769106 150 4,700 0 0 4,700 03 4,700 0 0 AUTOMATIC DATA PROCESSING 053015103 6,739 160,340 0 0 160,340 03 160,340 0 0 AUTONATION INC 05329W102 51 2,200 0 0 2,200 03 2,200 0 0 AUTOZONE INC 053332102 3,376 14,750 0 0 14,750 03 14,750 0 0 AutoZone Incorporated Common USD0. 053332102 6,408 28,000 0 0 28,000 01 28,000 0 0 AUXILIUM PHARMACEUTICALS INC 05334D107 235 9,500 0 0 9,500 03 9,500 0 0 AVALONBAY COMMUNITIES INC 053484101 6,348 61,083 0 0 61,083 03 61,083 0 0 AVERY DENNISON CORP 053611109 74 2,000 0 0 2,000 03 2,000 0 0 AVNET INC 053807103 76 2,800 0 0 2,800 03 2,800 0 0 AVON PRODUCTS INC 054303102 254 7,900 0 0 7,900 03 7,900 0 0 BAKER HUGHES INC 057224107 3,416 80,192 0 0 80,192 03 80,192 0 0 Baker Hughes Inc. Common USD1.00 057224107 1,852 43,460 0 0 43,460 01 43,460 0 0 BALL CORP 058498106 106 1,800 0 0 1,800 03 1,800 0 0 BANCO BRADESCO-ADR 059460303 4,382 215,000 0 0 215,000 03 215,000 0 0 BANCO SANTANDER-CHILE-ADR 05965X109 638 6,611 0 0 6,611 03 6,611 0 0 BANCO SANTANDER BRASIL-ADS 05967A107 1,556 113,000 0 0 113,000 03 113,000 0 0 BANCOLOMBIA S.A.-SPONS ADR 05968L102 692 10,540 0 0 10,540 03 10,540 0 0 BANK OF AMERICA CORP 060505104 21,548 1,643,605 0 0 1,643,605 03 1,643,605 0 0 BANK OF NEW YORK MELLON CORP 064058100 8,658 331,326 0 0 331,326 03 331,326 0 0 BAXTER INTERNATIONAL INC 071813109 13,765 288,510 0 0 288,510 03 288,510 0 0 BB&T CORP 054937107 1,763 73,200 0 0 73,200 03 73,200 0 0 BECKMAN COULTER INC 075811109 156 3,200 0 0 3,200 03 3,200 0 0 --------- 119,778 Form 13F Information Table GAM Holding Ltd. Page 5 of 37 1 2 3 4 5 6 7 8 Mkt Value -- Investment Discretion -- --- Voting Authority ---- Name of Issuer Type CUSIP $ x1000 # Shares Sole Shared Other Managers Sole Shared None BECTON DICKINSON AND CO 075887109 10,381 140,100 0 0 140,100 03 140,100 0 0 BED BATH & BEYOND INC 075896100 1,843 42,450 0 0 42,450 03 42,450 0 0 BEMIS COMPANY 081437105 635 20,000 0 0 20,000 03 20,000 0 0 BERKSHIRE HATHAWAY INC-CL A 084670108 2,241 18 0 0 18 03 18 0 0 BEST BUY CO INC 086516101 886 21,700 0 0 21,700 03 21,700 0 0 BHP BILLITON LTD-SPON ADR 088606108 1,168 15,300 0 0 15,300 03 15,300 0 0 BIOGEN IDEC INC 09062X103 4,556 81,190 0 0 81,190 03 81,190 0 0 BIOMARIN PHARMACEUTICAL INC 09061G101 585 26,180 0 0 26,180 03 26,180 0 0 BLACKROCK INC 09247X101 2,315 13,600 0 0 13,600 03 13,600 0 0 Blackstone Group LP Common NPV 09253U108 2,790 220,000 0 0 220,000 01 220,000 0 0 BMC SOFTWARE INC 055921100 959 23,700 0 0 23,700 03 23,700 0 0 BOEING CO/THE 097023105 7,532 113,200 0 0 113,200 03 113,200 0 0 BORGWARNER INC 099724106 368 7,000 0 0 7,000 03 7,000 0 0 BOSTON PROPERTIES INC 101121101 7,359 88,540 0 0 88,540 03 88,540 0 0 BOSTON SCIENTIFIC CORP 101137107 2,825 460,780 0 0 460,780 03 460,780 0 0 Boston Scientific Corp. Common USD 101137107 6,761 1,102,000 0 0 1,102,000 01 1,102,000 0 0 Boston Scientific Corp. Common USD 101137107 23,541 3,837,700 0 0 3,837,700 02 3,837,700 0 0 BP PLC-SPONS ADR 055622104 535 13,000 0 0 13,000 03 13,000 0 0 BPZ RESOURCES INC 055639108 275 71,679 0 0 71,679 03 71,679 0 0 BRANDYWINE REALTY TRUST 105368203 448 36,600 0 0 36,600 03 36,600 0 0 BRE PROPERTIES INC 05564E106 681 16,400 0 0 16,400 03 16,400 0 0 BRISTOL-MYERS SQUIBB CO 110122108 10,983 405,128 0 0 405,128 03 405,128 0 0 BROADCOM CORP-CL A 111320107 545 15,400 0 0 15,400 03 15,400 0 0 BUCYRUS INTERNATIONAL INC 118759109 2,015 29,050 0 0 29,050 03 29,050 0 0 Bucyrus Intl. Inc. Common USD0.01 118759109 1,583 22,820 0 0 22,820 01 22,820 0 0 --------- 93,810 Form 13F Information Table GAM Holding Ltd. Page 6 of 37 1 2 3 4 5 6 7 8 Mkt Value -- Investment Discretion -- --- Voting Authority ---- Name of Issuer Type CUSIP $ x1000 # Shares Sole Shared Other Managers Sole Shared None BUNGE LTD G16962105 4,810 81,300 0 0 81,300 03 81,300 0 0 Bunge Ltd. Common USD0.01 G16962105 3,181 53,730 0 0 53,730 02 01 53,730 0 0 C.H. ROBINSON WORLDWIDE INC 12541W209 1,629 23,300 0 0 23,300 03 23,300 0 0 CA INC 12673P105 1,210 57,300 0 0 57,300 03 57,300 0 0 CABLEVISION SYSTEMS-NY GRP-A 12686C109 118 4,500 0 0 4,500 03 4,500 0 0 Cablevision Systems Corp. Class A 12686C109 4,447 170,000 0 0 170,000 01 170,000 0 0 CABOT OIL & GAS CORP 127097103 662 22,000 0 0 22,000 03 22,000 0 0 CALPINE CORP 131347304 76 6,100 0 0 6,100 03 6,100 0 0 CAMDEN PROPERTY TRUST 133131102 2,514 52,400 0 0 52,400 03 52,400 0 0 Cameco Corporation USD Common NPV 13321L108 375 13,500 0 0 13,500 01 13,500 0 0 CAMERON INTERNATIONAL CORP 13342B105 954 22,210 0 0 22,210 03 22,210 0 0 CAMPBELL SOUP CO 134429109 129 3,600 0 0 3,600 03 3,600 0 0 CAPITAL ONE FINANCIAL CORP 14040H105 2,716 68,675 0 0 68,675 03 68,675 0 0 CARDINAL HEALTH INC 14149Y108 968 29,290 0 0 29,290 03 29,290 0 0 CAREFUSION CORP 14170T101 7,741 311,650 0 0 311,650 03 311,650 0 0 Carefusion Corp. Common USD0.01 14170T101 2,482 100,000 0 0 100,000 01 100,000 0 0 CARMAX INC 143130102 117 4,200 0 0 4,200 03 4,200 0 0 CARNIVAL CORP 143658300 5,120 134,000 0 0 134,000 03 134,000 0 0 CATERPILLAR INC 149123101 7,770 98,760 0 0 98,760 03 98,760 0 0 CB RICHARD ELLIS GROUP INC-A 12497T101 3,658 200,100 0 0 200,100 03 200,100 0 0 CBS CORP-CLASS B NON VOTING 124857202 390 24,605 0 0 24,605 03 24,605 0 0 CEDAR SHOPPING CENTERS INC 150602209 81 13,300 0 0 13,300 03 13,300 0 0 CELGENE CORP 151020104 6,810 118,200 0 0 118,200 03 118,200 0 0 CEMIG SA -SPONS ADR 204409601 3,575 218,125 0 0 218,125 03 218,125 0 0 CENTERPOINT ENERGY INC 15189T107 119 7,600 0 0 7,600 03 7,600 0 0 --------- 61,652 Form 13F Information Table GAM Holding Ltd. Page 7 of 37 1 2 3 4 5 6 7 8 Mkt Value -- Investment Discretion -- --- Voting Authority ---- Name of Issuer Type CUSIP $ x1000 # Shares Sole Shared Other Managers Sole Shared None CENTURYLINK INC 156700106 2,351 59,577 0 0 59,577 03 59,577 0 0 CEPHALON INC 156708109 1,501 24,040 0 0 24,040 03 24,040 0 0 CERNER CORP 156782104 109 1,300 0 0 1,300 03 1,300 0 0 CF INDUSTRIES HOLDINGS INC 125269100 229 2,400 0 0 2,400 03 2,400 0 0 CHARLES RIVER LABORATORIES 159864107 196 5,900 0 0 5,900 03 5,900 0 0 CHART INDUSTRIES INC 16115Q308 816 40,100 0 0 40,100 03 40,100 0 0 Check Point Software Tech. Com. US M22465104 1,030 27,900 0 0 27,900 02 01 27,900 0 0 CHESAPEAKE ENERGY CORP 165167107 2,351 103,800 0 0 103,800 03 103,800 0 0 CHEVRON CORP 166764100 38,953 480,600 0 0 480,600 03 480,600 0 0 CHINA LIFE INSURANCE CO-ADR 16939P106 250 4,200 0 0 4,200 03 4,200 0 0 CHINA MOBILE LTD-SPON ADR 16941M109 1,089 21,301 0 0 21,301 03 21,301 0 0 CHINA PETROLEUM & CHEM-ADR 16941R108 256 2,900 0 0 2,900 03 2,900 0 0 CHINA TELECOM CORP LTD-ADR 169426103 465 8,493 0 0 8,493 03 8,493 0 0 Christopher & Banks Corp. Common U 171046105 592 75,000 0 0 75,000 01 75,000 0 0 CHUBB CORP 171232101 5,773 101,300 0 0 101,300 03 101,300 0 0 Chubb Corporation Common USD1.00 171232101 5,985 105,000 0 0 105,000 01 105,000 0 0 CHURCH & DWIGHT CO INC 171340102 1,247 19,200 0 0 19,200 03 19,200 0 0 CIA BRASILEIRA-SP ADR PREF A 20440T201 1,087 15,750 0 0 15,750 03 15,750 0 0 CIA PARANAENSE ENER-SP ADR P 20441B407 748 33,608 0 0 33,608 03 33,608 0 0 CIA SIDERURGICA NACL-SP ADR 20440W105 1,414 80,000 0 0 80,000 03 80,000 0 0 CIGNA CORP 125509109 197 5,500 0 0 5,500 03 5,500 0 0 CIMAREX ENERGY CO 171798101 311 4,700 0 0 4,700 03 4,700 0 0 CINTAS CORP 172908105 678 24,600 0 0 24,600 03 24,600 0 0 CISCO SYSTEMS INC 17275R102 28,899 1,319,610 0 0 1,319,610 03 1,319,610 0 0 Cisco Systems Inc. Common USD0.001 17275R102 3,726 170,100 0 0 170,100 01 170,100 0 0 --------- 100,252 Form 13F Information Table GAM Holding Ltd. Page 8 of 37 1 2 3 4 5 6 7 8 Mkt Value -- Investment Discretion -- --- Voting Authority ---- Name of Issuer Type CUSIP $ x1000 # Shares Sole Shared Other Managers Sole Shared None CITIGROUP INC 172967101 13,742 3,523,630 0 0 3,523,630 03 3,523,630 0 0 Citigroup Incorporated Common USD0 172967101 6,904 1,767,950 0 0 1,767,950 01 1,767,950 0 0 Citigroup Incorporated Common USD0 172967101 23,424 5,999,900 0 0 5,999,900 02 5,999,900 0 0 CITRIX SYSTEMS INC 177376100 1,604 23,500 0 0 23,500 03 23,500 0 0 Clearwire Corp. Class A Com. USD0. 18538Q105 362 44,750 0 0 44,750 02 01 44,750 0 0 CLOROX COMPANY 189054109 848 12,700 0 0 12,700 03 12,700 0 0 CLOUD PEAK ENERGY INC 18911Q102 584 32,000 0 0 32,000 03 32,000 0 0 CME GROUP INC 12572Q105 1,993 7,653 0 0 7,653 03 7,653 0 0 CMS ENERGY CORP 125896100 360 20,000 0 0 20,000 03 20,000 0 0 COACH INC 189754104 7,393 172,100 0 0 172,100 03 172,100 0 0 COBALT INTERNATIONAL ENERGY 19075F106 278 29,100 0 0 29,100 03 29,100 0 0 COCA-COLA CO/THE 191216100 27,244 465,550 0 0 465,550 03 465,550 0 0 COGNEX CORP 192422103 451 16,800 0 0 16,800 03 16,800 0 0 COGNIZANT TECH SOLUTIONS-A 192446102 374 5,800 0 0 5,800 03 5,800 0 0 COLGATE-PALMOLIVE CO 194162103 2,860 37,208 0 0 37,208 03 37,208 0 0 COLONIAL PROPERTIES TRUST 195872106 273 16,860 0 0 16,860 03 16,860 0 0 COMCAST CORP-CLASS A 20030N101 7,831 433,150 0 0 433,150 03 433,150 0 0 COMCAST CORP-SPECIAL CL A 20030N200 430 25,257 0 0 25,257 03 25,257 0 0 COMERICA INC 200340107 115 3,100 0 0 3,100 03 3,100 0 0 COMPANHIA DE BEBIDAS-PRF ADR 20441W203 2,773 22,400 0 0 22,400 03 22,400 0 0 COMPUTER SCIENCES CORP 205363104 823 17,900 0 0 17,900 03 17,900 0 0 CONAGRA FOODS INC 205887102 178 8,100 0 0 8,100 03 8,100 0 0 Conns Inc Common USD0.01 208242107 2,906 625,000 0 0 625,000 01 625,000 0 0 ConocoPhillips Common USD1.250 20825C104 5,744 100,000 0 0 100,000 01 100,000 0 0 CONOCOPHILLIPS 20825C104 23,130 402,750 0 0 402,750 03 402,750 0 0 --------- 132,623 Form 13F Information Table GAM Holding Ltd. Page 9 of 37 1 2 3 4 5 6 7 8 Mkt Value -- Investment Discretion -- --- Voting Authority ---- Name of Issuer Type CUSIP $ x1000 # Shares Sole Shared Other Managers Sole Shared None CONSOL ENERGY INC 20854P109 4,300 116,350 0 0 116,350 03 116,350 0 0 CONSOLIDATED EDISON INC 209115104 1,693 35,100 0 0 35,100 03 35,100 0 0 Consolidated Tomoka Land Common US 210226106 170 6,000 0 0 6,000 01 6,000 0 0 CONSTELLATION BRANDS INC-A 21036P108 416 23,500 0 0 23,500 03 23,500 0 0 CONSTELLATION ENERGY GROUP 210371100 110 3,400 0 0 3,400 03 3,400 0 0 CONTINENTAL AIRLINES-CLASS B 210795308 380 15,300 0 0 15,300 03 15,300 0 0 COPA HOLDINGS SA-CLASS A P31076105 253 4,700 0 0 4,700 03 4,700 0 0 Copa Holdings SA Class A Com. NPV P31076105 1,101 20,420 0 0 20,420 01 20,420 0 0 CORN PRODUCTS INTL INC 219023108 600 16,000 0 0 16,000 03 16,000 0 0 CORNING INC 219350105 12,992 710,700 0 0 710,700 03 710,700 0 0 CORRECTIONS CORP OF AMERICA 22025Y407 755 30,600 0 0 30,600 03 30,600 0 0 COSTCO WHOLESALE CORP 22160K105 9,199 142,650 0 0 142,650 03 142,650 0 0 COVANCE INC 222816100 61 1,300 0 0 1,300 03 1,300 0 0 COVANTA HOLDING CORP 22282E102 1,370 87,000 0 0 87,000 03 87,000 0 0 COVENTRY HEALTH CARE INC 222862104 56 2,600 0 0 2,600 03 2,600 0 0 COVIDIEN PLC G2554F105 5,813 144,650 0 0 144,650 03 144,650 0 0 CR BARD INC 067383109 4,470 54,890 0 0 54,890 03 54,890 0 0 CREDICORP LTD G2519Y108 342 3,000 0 0 3,000 03 3,000 0 0 Credicorp Ltd. Common USD5.00 G2519Y108 1,173 10,300 0 0 10,300 01 10,300 0 0 Credicorp Ltd. Common USD5.00 G2519Y108 843 7,400 0 0 7,400 02 01 7,400 0 0 CREE INC 225447101 98 1,800 0 0 1,800 03 1,800 0 0 CROWN CASTLE INTL CORP 228227104 238 5,400 0 0 5,400 03 5,400 0 0 CROWN HOLDINGS INC 228368106 95 3,300 0 0 3,300 03 3,300 0 0 CSX CORP 126408103 3,895 70,410 0 0 70,410 03 70,410 0 0 CUMMINS INC 231021106 3,245 35,830 0 0 35,830 03 35,830 0 0 --------- 53,667 Form 13F Information Table GAM Holding Ltd. Page 10 of 37 1 2 3 4 5 6 7 8 Mkt Value -- Investment Discretion -- --- Voting Authority ---- Name of Issuer Type CUSIP $ x1000 # Shares Sole Shared Other Managers Sole Shared None CurrencyShares British Pound Sterl 23129S106 1,903 12,175 0 0 12,175 01 12,175 0 0 CurrencyShares Euro Trust 23130C108 983 7,240 0 0 7,240 01 7,240 0 0 CVS CAREMARK CORP 126650100 12,775 405,955 0 0 405,955 03 405,955 0 0 CYTEC INDUSTRIES INC 232820100 789 14,000 0 0 14,000 03 14,000 0 0 DANAHER CORP 235851102 4,024 99,100 0 0 99,100 03 99,100 0 0 DARDEN RESTAURANTS INC 237194105 107 2,500 0 0 2,500 03 2,500 0 0 DEAN FOODS CO 242370104 443 43,400 0 0 43,400 03 43,400 0 0 DEERE & CO 244199105 3,853 55,210 0 0 55,210 03 55,210 0 0 DELL INC 24702R101 3,909 301,600 0 0 301,600 03 301,600 0 0 DELTA AIR LINES INC 247361702 54 4,600 0 0 4,600 03 4,600 0 0 DENBURY RESOURCES INC 247916208 1,476 92,887 0 0 92,887 03 92,887 0 0 DENDREON CORP 24823Q107 782 19,000 0 0 19,000 03 19,000 0 0 DENTSPLY INTERNATIONAL INC 249030107 2,283 71,400 0 0 71,400 03 71,400 0 0 DEVON ENERGY CORPORATION 25179M103 8,810 136,090 0 0 136,090 03 136,090 0 0 DEVRY INC 251893103 408 8,300 0 0 8,300 03 8,300 0 0 DIAMOND OFFSHORE DRILLING 25271C102 95 1,400 0 0 1,400 03 1,400 0 0 DIAMONDROCK HOSPITALITY CO 252784301 393 41,443 0 0 41,443 03 41,443 0 0 DIRECTV-CLASS A 25490A101 2,598 62,401 0 0 62,401 03 62,401 0 0 DIRECTV Class A Com. USD0.01 25490A101 3,539 85,000 0 0 85,000 01 85,000 0 0 DISCOVERY COMMUNICATIONS-A 25470F104 100 2,300 0 0 2,300 03 2,300 0 0 DISCOVERY COMMUNICATIONS-C 25470F302 115 3,000 0 0 3,000 03 3,000 0 0 DISH NETWORK CORP-A 25470M109 67 3,500 0 0 3,500 03 3,500 0 0 DOLBY LABORATORIES INC-CL A 25659T107 909 16,000 0 0 16,000 03 16,000 0 0 DOMINION RESOURCES INC/VA 25746U109 4,156 95,200 0 0 95,200 03 95,200 0 0 --------- 54,571 Form 13F Information Table GAM Holding Ltd. Page 11 of 37 1 2 3 4 5 6 7 8 Mkt Value -- Investment Discretion -- --- Voting Authority ---- Name of Issuer Type CUSIP $ x1000 # Shares Sole Shared Other Managers Sole Shared None DOVER CORP 260003108 1,216 23,300 0 0 23,300 03 23,300 0 0 DOW CHEMICAL 260543103 7,531 274,260 0 0 274,260 03 274,260 0 0 DR HORTON INC 23331A109 496 44,600 0 0 44,600 03 44,600 0 0 DR PEPPER SNAPPLE GROUP INC 26138E109 1,581 44,500 0 0 44,500 03 44,500 0 0 DTE ENERGY COMPANY 233331107 147 3,200 0 0 3,200 03 3,200 0 0 Du Pont (E.I.) De Nemours USD0.30 263534109 8,340 187,015 0 0 187,015 01 187,015 0 0 Du Pont (E.I.) De Nemours USD0.30 263534109 28,513 639,440 0 0 639,440 02 639,440 0 0 DU PONT (E.I.) DE NEMOURS 263534109 4,364 97,800 0 0 97,800 03 97,800 0 0 DUKE REALTY CORP 264411505 883 76,201 0 0 76,201 03 76,201 0 0 DUN & BRADSTREET CORP 26483E100 59 800 0 0 800 03 800 0 0 Duoyuan Glb. Water Inc. ADR(1 Rep 266043108 568 43,750 0 0 43,750 01 43,750 0 0 EASTMAN CHEMICAL COMPANY 277432100 303 4,100 0 0 4,100 03 4,100 0 0 Eastman Kodak Company Common USD2. 277461109 3,242 772,840 0 0 772,840 01 772,840 0 0 Eastman Kodak Company Common USD2. 277461109 10,841 2,584,845 0 0 2,584,845 02 2,584,845 0 0 EATON CORP 278058102 1,081 13,100 0 0 13,100 03 13,100 0 0 EATON VANCE CORP 278265103 67 2,300 0 0 2,300 03 2,300 0 0 EBAY INC 278642103 6,550 268,430 0 0 268,430 03 268,430 0 0 eBay Incorporated Common USD0.001 278642103 6,670 273,300 0 0 273,300 01 273,300 0 0 eBay Incorporated Common USD0.001 278642103 23,194 950,400 0 0 950,400 02 950,400 0 0 EBIX INC 278715206 375 16,000 0 0 16,000 03 16,000 0 0 ECOLAB INC 278865100 4,820 95,000 0 0 95,000 03 95,000 0 0 EDISON INTERNATIONAL 281020107 1,926 56,000 0 0 56,000 03 56,000 0 0 EDUCATION REALTY TRUST INC 28140H104 83 11,600 0 0 11,600 03 11,600 0 0 Education Realty Trust Inc. Com. U 28140H104 1,049 146,820 0 0 146,820 01 146,820 0 0 EDWARDS LIFESCIENCES CORP 28176E108 134 2,000 0 0 2,000 03 2,000 0 0 --------- 114,033 Form 13F Information Table GAM Holding Ltd. Page 12 of 37 1 2 3 4 5 6 7 8 Mkt Value -- Investment Discretion -- --- Voting Authority ---- Name of Issuer Type CUSIP $ x1000 # Shares Sole Shared Other Managers Sole Shared None EL PASO CORP 28336L109 2,030 164,000 0 0 164,000 03 164,000 0 0 EL Paso Corporation Common USD3.00 28336L109 29,280 2,364,163 0 0 2,364,163 01 2,364,163 0 0 EL Paso Corporation Common USD3.00 28336L109 68,736 5,550,408 0 0 5,550,408 02 5,550,408 0 0 ELECTRONIC ARTS INC 285512109 1,870 113,800 0 0 113,800 03 113,800 0 0 ELI LILLY & CO 532457108 3,489 95,520 0 0 95,520 03 95,520 0 0 EMC CORP/MASS 268648102 5,728 282,020 0 0 282,020 03 282,020 0 0 EMERSON ELECTRIC CO 291011104 7,756 147,280 0 0 147,280 03 147,280 0 0 EMPRESA BRASILEIRA DE AE-ADR 29081M102 625 22,000 0 0 22,000 03 22,000 0 0 EMPRESA NAC ELEC-CHIL-SP ADR 29244T101 1,783 33,000 0 0 33,000 03 33,000 0 0 ENDO PHARMACEUT HLDGS INC 29264F205 565 17,000 0 0 17,000 03 17,000 0 0 ENERGIZER HOLDINGS INC 29266R108 847 12,600 0 0 12,600 03 12,600 0 0 ENERGY SELECT SECTOR SPDR 81369Y506 2,242 40,000 0 0 40,000 03 40,000 0 0 Enova Systems Inc. Ord. NPV 29355M200 427 453,305 0 0 453,305 01 453,305 0 0 Enova Systems Inc. Ord. NPV 29355M200 1,000 1,060,970 0 0 1,060,970 02 1,060,970 0 0 ENTERGY CORP 29364G103 1,806 23,600 0 0 23,600 03 23,600 0 0 EOG RESOURCES INC 26875P101 2,306 24,800 0 0 24,800 03 24,800 0 0 EQUIFAX INC 294429105 78 2,500 0 0 2,500 03 2,500 0 0 EQUITY ONE INC 294752100 145 8,600 0 0 8,600 03 8,600 0 0 Equity Residential Com. USD0.01 29476L107 1,384 29,120 0 0 29,120 01 29,120 0 0 EQUITY RESIDENTIAL 29476L107 9,034 189,900 0 0 189,900 03 189,900 0 0 ESSEX PROPERTY TRUST INC 297178105 1,729 15,800 0 0 15,800 03 15,800 0 0 ESTEE LAUDER COMPANIES-CL A 518439104 2,264 35,800 0 0 35,800 03 35,800 0 0 EXELON CORP 30161N101 7,110 166,970 0 0 166,970 03 166,970 0 0 Exelon Corporation Common NPV 30161N101 3,401 79,890 0 0 79,890 02 01 79,890 0 0 EXPEDIA INC 30212P105 886 31,400 0 0 31,400 03 31,400 0 0 --------- 156,521 Form 13F Information Table GAM Holding Ltd. Page 13 of 37 1 2 3 4 5 6 7 8 Mkt Value -- Investment Discretion -- --- Voting Authority ---- Name of Issuer Type CUSIP $ x1000 # Shares Sole Shared Other Managers Sole Shared None EXPEDITORS INTL WASH INC 302130109 305 6,600 0 0 6,600 03 6,600 0 0 EXPRESS SCRIPTS INC 302182100 2,171 44,580 0 0 44,580 03 44,580 0 0 EXXON MOBIL CORP 30231G102 52,705 852,966 0 0 852,966 03 852,966 0 0 F5 NETWORKS INC 315616102 156 1,500 0 0 1,500 03 1,500 0 0 FAMILY DOLLAR STORES 307000109 1,582 35,820 0 0 35,820 03 35,820 0 0 FASTENAL CO 311900104 808 15,200 0 0 15,200 03 15,200 0 0 FEDERAL REALTY INVS TRUST 313747206 4,042 49,500 0 0 49,500 03 49,500 0 0 FEDEX CORP 31428X106 4,549 53,200 0 0 53,200 03 53,200 0 0 FedEx Corporation Common USD0.10 31428X106 899 10,510 0 0 10,510 01 10,510 0 0 FELCOR LODGING TRUST INC 31430F101 114 24,720 0 0 24,720 03 24,720 0 0 FIFTH THIRD BANCORP 316773100 965 80,180 0 0 80,180 03 80,180 0 0 FINANCIAL SELECT SECTOR SPDR 81369Y605 11,692 814,800 0 0 814,800 03 814,800 0 0 FIRST HORIZON NATIONAL CORP 320517105 513 44,931 0 0 44,931 03 44,931 0 0 FIRST SOLAR INC 336433107 530 3,600 0 0 3,600 03 3,600 0 0 FIRSTENERGY CORP 337932107 1,538 39,900 0 0 39,900 03 39,900 0 0 FISERV INC 337738108 414 7,700 0 0 7,700 03 7,700 0 0 FLEXTRONICS INTL LTD Y2573F102 100 16,498 0 0 16,498 03 16,498 0 0 FLIR SYSTEMS INC 302445101 594 23,100 0 0 23,100 03 23,100 0 0 FLOWSERVE CORP 34354P105 3,654 33,390 0 0 33,390 03 33,390 0 0 FLUOR CORP 343412102 1,159 23,400 0 0 23,400 03 23,400 0 0 FMC CORP 302491303 75 1,100 0 0 1,100 03 1,100 0 0 FMC TECHNOLOGIES INC 30249U101 922 13,500 0 0 13,500 03 13,500 0 0 FORD MOTOR CO 345370860 2,402 196,250 0 0 196,250 03 196,250 0 0 FOREST LABORATORIES INC 345838106 2,254 72,860 0 0 72,860 03 72,860 0 0 FORTUNE BRANDS INC 349631101 635 12,900 0 0 12,900 03 12,900 0 0 --------- 94,776 Form 13F Information Table GAM Holding Ltd. Page 14 of 37 1 2 3 4 5 6 7 8 Mkt Value -- Investment Discretion -- --- Voting Authority ---- Name of Issuer Type CUSIP $ x1000 # Shares Sole Shared Other Managers Sole Shared None FRANKLIN RESOURCES INC 354613101 5,639 52,750 0 0 52,750 03 52,750 0 0 Fred's Incorporated Class A Common 356108100 8,257 700,000 0 0 700,000 01 700,000 0 0 FREEPORT-MCMORAN COPPER 35671D857 23,044 269,864 0 0 269,864 03 269,864 0 0 GAFISA SA-ADR 362607301 310 20,000 0 0 20,000 03 20,000 0 0 GAMESTOP CORP-CLASS A 36467W109 1,039 52,700 0 0 52,700 03 52,700 0 0 GANNETT CO 364730101 527 43,110 0 0 43,110 03 43,110 0 0 GAP INC/THE 364760108 2,752 147,650 0 0 147,650 03 147,650 0 0 GENERAL DYNAMICS CORP 369550108 7,035 112,000 0 0 112,000 03 112,000 0 0 GENERAL ELECTRIC CO 369604103 36,678 2,257,120 0 0 2,257,120 03 2,257,120 0 0 General Electric Co. Com. USD0.06 369604103 8,202 504,605 0 0 504,605 01 504,605 0 0 General Electric Co. Com. USD0.06 369604103 28,543 1,756,085 0 0 1,756,085 02 1,756,085 0 0 GENERAL MILLS INC 370334104 2,470 67,600 0 0 67,600 03 67,600 0 0 GENUINE PARTS CO 372460105 3,387 75,950 0 0 75,950 03 75,950 0 0 GENWORTH FINANCIAL INC-CL A 37247D106 978 80,070 0 0 80,070 03 80,070 0 0 GENZYME CORP 372917104 3,476 49,100 0 0 49,100 03 49,100 0 0 Gerber Scientific Common USD1.00 373730100 523 85,000 0 0 85,000 01 85,000 0 0 Gerdau SA-Spon ADR (1 Rep. 1 Pref. 373737105 894 65,700 0 0 65,700 02 01 65,700 0 0 GERDAU SA -SPON ADR 373737105 1,497 110,000 0 0 110,000 03 110,000 0 0 GILEAD SCIENCES INC 375558103 16,553 464,850 0 0 464,850 03 464,850 0 0 GOL LINHAS AEREAS INTEL-ADR 38045R107 236 15,000 0 0 15,000 03 15,000 0 0 GOLD FIELDS LTD-SPONS ADR 38059T106 7,743 507,046 0 0 507,046 03 507,046 0 0 GOLDMAN SACHS GROUP INC 38141G104 9,380 64,880 0 0 64,880 03 64,880 0 0 GOODRICH CORP 382388106 900 12,200 0 0 12,200 03 12,200 0 0 GOODYEAR TIRE & RUBBER CO 382550101 267 24,800 0 0 24,800 03 24,800 0 0 GOOGLE INC-CL A 38259P508 22,010 41,860 0 0 41,860 03 41,860 0 0 --------- 192,338 Form 13F Information Table GAM Holding Ltd. Page 15 of 37 1 2 3 4 5 6 7 8 Mkt Value -- Investment Discretion -- --- Voting Authority ---- Name of Issuer Type CUSIP $ x1000 # Shares Sole Shared Other Managers Sole Shared None Google Incorporated Com. Cl A USD0 38259P508 1,546 2,940 0 0 2,940 01 2,940 0 0 GREATER CHINA FUND 39167B102 3,928 307,394 0 0 307,394 03 307,394 0 0 Greenbrier Companies Inc. Common N 393657101 1,367 87,780 0 0 87,780 01 87,780 0 0 H&R BLOCK INC 093671105 1,115 86,100 0 0 86,100 03 86,100 0 0 HAIN CELESTIAL GROUP INC 405217100 487 20,300 0 0 20,300 03 20,300 0 0 HALLIBURTON CO 406216101 4,686 141,700 0 0 141,700 03 141,700 0 0 HARLEY-DAVIDSON INC 412822108 978 34,400 0 0 34,400 03 34,400 0 0 HARMONY GOLD MNG-SPON ADR 413216300 4,478 396,600 0 0 396,600 03 396,600 0 0 HARRIS CORP 413875105 3,813 86,100 0 0 86,100 03 86,100 0 0 HARSCO CORP 415864107 34 1,400 0 0 1,400 03 1,400 0 0 HARTFORD FINANCIAL SVCS GRP 416515104 832 36,240 0 0 36,240 03 36,240 0 0 HASBRO INC 418056107 650 14,600 0 0 14,600 03 14,600 0 0 HCC INSURANCE HOLDINGS INC 404132102 2,343 89,800 0 0 89,800 03 89,800 0 0 HDFC BANK LTD-ADR 40415F101 461 2,500 0 0 2,500 03 2,500 0 0 HEALTH CARE REIT INC 42217K106 2,282 48,200 0 0 48,200 03 48,200 0 0 HELMERICH & PAYNE 423452101 1,497 37,000 0 0 37,000 03 37,000 0 0 HENRY SCHEIN INC 806407102 94 1,600 0 0 1,600 03 1,600 0 0 HERSHEY CO/THE 427866108 523 11,000 0 0 11,000 03 11,000 0 0 HESS CORP 42809H107 2,288 38,700 0 0 38,700 03 38,700 0 0 Hess Corporation Common USD1.00 42809H107 1,939 32,820 0 0 32,820 01 32,820 0 0 HEWLETT-PACKARD CO 428236103 22,146 526,400 0 0 526,400 03 526,400 0 0 Hewlett Packard Co. Common USD0.01 428236103 7,742 184,000 0 0 184,000 01 184,000 0 0 Hexcel Corporation Common USD0.01 428291108 343 19,300 0 0 19,300 01 19,300 0 0 HJ HEINZ CO 423074103 3,197 67,500 0 0 67,500 03 67,500 0 0 HOLOGIC INC 436440101 79 4,912 0 0 4,912 03 4,912 0 0 --------- 68,848 Form 13F Information Table GAM Holding Ltd. Page 16 of 37 1 2 3 4 5 6 7 8 Mkt Value -- Investment Discretion -- --- Voting Authority ---- Name of Issuer Type CUSIP $ x1000 # Shares Sole Shared Other Managers Sole Shared None HOME DEPOT INC 437076102 12,452 393,069 0 0 393,069 03 393,069 0 0 HOME PROPERTIES INC 437306103 503 9,500 0 0 9,500 03 9,500 0 0 Home Properties Inc. Common USD0.0 437306103 1,402 26,500 0 0 26,500 01 26,500 0 0 HONEYWELL INTERNATIONAL INC 438516106 2,544 57,900 0 0 57,900 03 57,900 0 0 HORMEL FOODS CORP 440452100 62 1,400 0 0 1,400 03 1,400 0 0 HOSPIRA INC 441060100 177 3,100 0 0 3,100 03 3,100 0 0 HOST HOTELS & RESORTS INC 44107P104 5,662 391,034 0 0 391,034 03 391,034 0 0 HUDSON CITY BANCORP INC 443683107 982 80,100 0 0 80,100 03 80,100 0 0 HUMAN GENOME SCIENCES INC 444903108 465 15,600 0 0 15,600 03 15,600 0 0 Human Genome Sciences Inc. Com. US 444903108 3,004 100,900 0 0 100,900 02 01 100,900 0 0 HUMANA INC 444859102 5,517 109,820 0 0 109,820 03 109,820 0 0 HUNT (JB) TRANSPRT SVCS INC 445658107 59 1,700 0 0 1,700 03 1,700 0 0 Huntsman Corporation Common USD0.0 447011107 8,381 725,000 0 0 725,000 01 725,000 0 0 ICICI BANK LTD-SPON ADR 45104G104 798 16,000 0 0 16,000 03 16,000 0 0 ICICI Bank Ltd.-Spon. ADR (1 Rep. 45104G104 1,096 22,000 0 0 22,000 02 01 22,000 0 0 ICU Medical Incorporated Common US 44930G107 3,727 100,000 0 0 100,000 01 100,000 0 0 IDEXX LABORATORIES INC 45168D104 309 5,000 0 0 5,000 03 5,000 0 0 IHS INC-CLASS A 451734107 54 800 0 0 800 03 800 0 0 ILLINOIS TOOL WORKS 452308109 5,041 107,200 0 0 107,200 03 107,200 0 0 ILLUMINA INC 452327109 1,550 31,500 0 0 31,500 03 31,500 0 0 INCYTE CORP 45337C102 160 10,000 0 0 10,000 03 10,000 0 0 INDIA FUND INC 454089103 546 15,000 0 0 15,000 03 15,000 0 0 INDUSTRIAL SELECT SECT SPDR 81369Y704 1,564 50,000 0 0 50,000 03 50,000 0 0 Infinity Property & Casualty Commo 45665Q103 4,877 100,000 0 0 100,000 01 100,000 0 0 INFOSYS TECHNOLOGIES-SP ADR 456788108 4,321 64,200 0 0 64,200 03 64,200 0 0 --------- 65,253 Form 13F Information Table GAM Holding Ltd. Page 17 of 37 1 2 3 4 5 6 7 8 Mkt Value -- Investment Discretion -- --- Voting Authority ---- Name of Issuer Type CUSIP $ x1000 # Shares Sole Shared Other Managers Sole Shared None INTEL CORP 458140100 31,794 1,653,363 0 0 1,653,363 03 1,653,363 0 0 Intel Corp. Com. USD0.001 458140100 5,262 274,080 0 0 274,080 02 01 274,080 0 0 INTERCONTINENTALEXCHANGE INC 45865V100 1,984 18,950 0 0 18,950 03 18,950 0 0 INTERNATIONAL PAPER CO 460146103 1,697 78,000 0 0 78,000 03 78,000 0 0 INTERPUBLIC GROUP OF COS INC 460690100 87 8,700 0 0 8,700 03 8,700 0 0 INTL BUSINESS MACHINES CORP 459200101 42,453 316,480 0 0 316,480 03 316,480 0 0 INTL FLAVORS & FRAGRANCES 459506101 73 1,500 0 0 1,500 03 1,500 0 0 INTL GAME TECHNOLOGY 459902102 371 25,700 0 0 25,700 03 25,700 0 0 INTUIT INC 461202103 1,117 25,500 0 0 25,500 03 25,500 0 0 iPath S&P 500 VIX S/T Fut. ETN 06740C527 5,092 294,429 0 0 294,429 01 294,429 0 0 IRON MOUNTAIN INC 462846106 74 3,300 0 0 3,300 03 3,300 0 0 ISHARES BARCLAYS 1-3 YEAR TR 464287457 169 2,000 0 0 2,000 03 2,000 0 0 iShares DJ US Oil Equip. & Serv. I 464288844 1,431 32,400 0 0 32,400 01 32,400 0 0 ISHARES DJ US REAL ESTATE 464287739 2,644 50,000 0 0 50,000 03 50,000 0 0 iShares FTSE/XINHUA China 25 Index 464287184 948 22,140 0 0 22,140 02 22,140 0 0 ISHARES FTSE/XINHUA CHINA 25 464287184 5,231 122,160 0 0 122,160 03 122,160 0 0 ISHARES MSCI ASIA EX-JAPAN 464288182 904 15,000 0 0 15,000 03 15,000 0 0 Ishares MSCI Asia Ex-Japan 464288182 2,540 42,000 0 0 42,000 02 01 42,000 0 0 ISHARES MSCI AUSTRALIA INDEX 464286103 715 30,110 0 0 30,110 03 30,110 0 0 iShares MSCI Brazil Index Fund 464286400 1,019 13,240 0 0 13,240 01 13,240 0 0 ISHARES MSCI BRAZIL 464286400 7,249 94,230 0 0 94,230 03 94,230 0 0 iShares MSCI Emerging Markets Inde 464287234 3,055 68,200 0 0 68,200 02 01 68,200 0 0 iShares MSCI Emerging Markets Inde 464287234 13,437 300,000 0 0 300,000 01 300,000 0 0 ISHARES MSCI EMERGING MKT IN 464287234 16,504 368,639 0 0 368,639 03 368,639 0 0 iShares MSCI Germany Index 464286806 3,907 177,509 0 0 177,509 01 177,509 0 0 --------- 149,756 Form 13F Information Table GAM Holding Ltd. Page 18 of 37 1 2 3 4 5 6 7 8 Mkt Value -- Investment Discretion -- --- Voting Authority ---- Name of Issuer Type CUSIP $ x1000 # Shares Sole Shared Other Managers Sole Shared None ISHARES MSCI HONG KONG INDEX 464286871 1,274 70,210 0 0 70,210 03 70,210 0 0 ISHARES MSCI MALAYSIA 464286830 1,760 128,100 0 0 128,100 03 128,100 0 0 ISHARES MSCI MEXICO INVESTAB 464286822 4,668 88,100 0 0 88,100 03 88,100 0 0 ISHARES MSCI PACIFIC EX JPN 464286665 12,034 271,650 0 0 271,650 03 271,650 0 0 iShares MSCI Singapore Index Fund 464286673 984 74,433 0 0 74,433 01 74,433 0 0 ISHARES MSCI SOUTH KOREA IND 464286772 8,953 167,500 0 0 167,500 03 167,500 0 0 iShares MSCI South Korea Index Fun 464286772 2,557 47,600 0 0 47,600 02 01 47,600 0 0 ISHARES MSCI TAIWAN INDEX FD 464286731 6,525 481,570 0 0 481,570 03 481,570 0 0 iShares MSCI Taiwan Index Fund 464286731 3,386 250,000 0 0 250,000 01 250,000 0 0 iShares MSCI Taiwan Index Fund 464286731 813 60,000 0 0 60,000 02 60,000 0 0 iShares MSCI Turkey Inv. Market Id 464286715 953 13,600 0 0 13,600 01 13,600 0 0 ISHARES MSCI TURKEY INVSTBLE 464286715 4,027 57,500 0 0 57,500 03 57,500 0 0 ISHARES NASDAQ BIOTECH INDX 464287556 1,380 16,000 0 0 16,000 03 16,000 0 0 ISHARES S&P 500 GROWTH INDEX 464287309 7,718 130,000 0 0 130,000 03 130,000 0 0 ISHARES S&P GLBL ENERGY SECT 464287341 115 3,400 0 0 3,400 03 3,400 0 0 ISHARES S&P GLBL FINL SECTOR 464287333 271 6,150 0 0 6,150 03 6,150 0 0 ISHARES S&P GLBL TECH SECTOR 464287291 181 3,250 0 0 3,250 03 3,250 0 0 ISHARES S&P LATIN AMERICA 40 464287390 152 3,000 0 0 3,000 03 3,000 0 0 ITAU UNIBANCO HLDNG-PREF ADR 465562106 6,344 262,362 0 0 262,362 03 262,362 0 0 Itau Unibanco Pref. ADR (1Rep 1Pre 465562106 1,963 81,200 0 0 81,200 02 01 81,200 0 0 ITT CORP 450911102 1,550 33,100 0 0 33,100 03 33,100 0 0 ITT EDUCATIONAL SERVICES INC 45068B109 56 800 0 0 800 03 800 0 0 J CREW GROUP INC 46612H402 1,009 30,000 0 0 30,000 03 30,000 0 0 J.C. PENNEY CO INC 708160106 935 34,400 0 0 34,400 03 34,400 0 0 --------- 69,607 Form 13F Information Table GAM Holding Ltd. Page 19 of 37 1 2 3 4 5 6 7 8 Mkt Value -- Investment Discretion -- --- Voting Authority ---- Name of Issuer Type CUSIP $ x1000 # Shares Sole Shared Other Managers Sole Shared None JACOBS ENGINEERING GROUP INC 469814107 4,409 113,920 0 0 113,920 03 113,920 0 0 JDS UNIPHASE CORP 46612J507 743 60,000 0 0 60,000 03 60,000 0 0 JDS Uniphase Corp. Common USD0.001 46612J507 4,784 386,270 0 0 386,270 01 386,270 0 0 JDS Uniphase Corp. Common USD0.001 46612J507 16,438 1,327,332 0 0 1,327,332 02 1,327,332 0 0 JEFFERIES GROUP INC 472319102 45 2,000 0 0 2,000 03 2,000 0 0 JM SMUCKER CO/THE 832696405 139 2,302 0 0 2,302 03 2,302 0 0 JOHNSON & JOHNSON 478160104 40,364 651,450 0 0 651,450 03 651,450 0 0 JOHNSON CONTROLS INC 478366107 4,289 140,620 0 0 140,620 03 140,620 0 0 JOY GLOBAL INC 481165108 1,160 16,500 0 0 16,500 03 16,500 0 0 Joy Global Inc. Common USD1.00 481165108 817 11,620 0 0 11,620 01 11,620 0 0 JPMORGAN CHASE & CO 46625H100 32,835 862,494 0 0 862,494 03 862,494 0 0 JUNIPER NETWORKS INC 48203R104 659 21,700 0 0 21,700 03 21,700 0 0 KB HOME 48666K109 340 30,000 0 0 30,000 03 30,000 0 0 KELLOGG CO 487836108 1,020 20,200 0 0 20,200 03 20,200 0 0 KEYCORP 493267108 120 15,100 0 0 15,100 03 15,100 0 0 KIMBERLY-CLARK CORP 494368103 2,257 34,690 0 0 34,690 03 34,690 0 0 KIMCO REALTY CORP 49446R109 1,751 111,200 0 0 111,200 03 111,200 0 0 KINETIC CONCEPTS INC 49460W208 494 13,500 0 0 13,500 03 13,500 0 0 KING PHARMACEUTICALS INC 495582108 299 30,000 0 0 30,000 03 30,000 0 0 KLA-TENCOR CORPORATION 482480100 824 23,400 0 0 23,400 03 23,400 0 0 KOHLS CORP 500255104 2,529 48,000 0 0 48,000 03 48,000 0 0 KOREA ELEC POWER CORP-SP ADR 500631106 4,429 342,510 0 0 342,510 03 342,510 0 0 KRAFT FOODS INC-CLASS A 50075N104 23,375 757,439 0 0 757,439 03 757,439 0 0 KROGER CO 501044101 1,542 71,200 0 0 71,200 03 71,200 0 0 --------- 145,662 Form 13F Information Table GAM Holding Ltd. Page 20 of 37 1 2 3 4 5 6 7 8 Mkt Value -- Investment Discretion -- --- Voting Authority ---- Name of Issuer Type CUSIP $ x1000 # Shares Sole Shared Other Managers Sole Shared None KT CORP-SP ADR 48268K101 2,779 135,837 0 0 135,837 03 135,837 0 0 L-3 COMMUNICATIONS HOLDINGS 502424104 4,524 62,600 0 0 62,600 03 62,600 0 0 LABORATORY CRP OF AMER HLDGS 50540R409 3,275 41,760 0 0 41,760 03 41,760 0 0 LAM RESEARCH CORP 512807108 113 2,700 0 0 2,700 03 2,700 0 0 Lam Research Corporation Common US 512807108 3,979 95,000 0 0 95,000 01 95,000 0 0 LAN AIRLINES SA-SPON ADR 501723100 812 27,580 0 0 27,580 03 27,580 0 0 LAS VEGAS SANDS CORP 517834107 227 6,500 0 0 6,500 03 6,500 0 0 LASALLE HOTEL PROPERTIES 517942108 395 16,900 0 0 16,900 03 16,900 0 0 Layne Christensen Company Common U 521050104 1,728 66,710 0 0 66,710 01 66,710 0 0 LEGG MASON INC 524901105 391 12,900 0 0 12,900 03 12,900 0 0 LEGGETT & PLATT INC 524660107 528 23,200 0 0 23,200 03 23,200 0 0 Lender Processing Services Common 52602E102 2,661 80,000 0 0 80,000 01 80,000 0 0 LENDER PROCESSING SERVICES 52602E102 53 1,600 0 0 1,600 03 1,600 0 0 LENNAR CORP-CL A 526057104 736 47,850 0 0 47,850 03 47,850 0 0 Lennar Corporation Class A Com. US 526057104 2,874 187,030 0 0 187,030 02 01 187,030 0 0 LEUCADIA NATIONAL CORP 527288104 97 4,100 0 0 4,100 03 4,100 0 0 LEVEL 3 COMMUNICATIONS INC 52729N100 41 43,300 0 0 43,300 03 43,300 0 0 LEXMARK INTERNATIONAL INC-A 529771107 1,013 22,700 0 0 22,700 03 22,700 0 0 LG DISPLAY CO LTD-ADR 50186V102 338 19,400 0 0 19,400 03 19,400 0 0 LIBERTY GLOBAL INC-A 530555101 86 2,800 0 0 2,800 03 2,800 0 0 LIBERTY GLOBAL INC-SERIES C 530555309 79 2,600 0 0 2,600 03 2,600 0 0 LIBERTY MEDIA CORP-INTER A 53071M104 145 10,600 0 0 10,600 03 10,600 0 0 LIFE TECHNOLOGIES CORP 53217V109 766 16,409 0 0 16,409 03 16,409 0 0 LIMITED BRANDS INC 532716107 2,290 85,500 0 0 85,500 03 85,500 0 0 LINCOLN NATIONAL CORP 534187109 421 17,600 0 0 17,600 03 17,600 0 0 --------- 30,351 Form 13F Information Table GAM Holding Ltd. Page 21 of 37 1 2 3 4 5 6 7 8 Mkt Value -- Investment Discretion -- --- Voting Authority ---- Name of Issuer Type CUSIP $ x1000 # Shares Sole Shared Other Managers Sole Shared None LINDSAY CORP 535555106 347 8,000 0 0 8,000 03 8,000 0 0 Lindsay Corporation Common USD1.00 535555106 1,562 36,050 0 0 36,050 01 36,050 0 0 LINEAR TECHNOLOGY CORP 535678106 1,973 64,200 0 0 64,200 03 64,200 0 0 LIZ CLAIBORNE INC 539320101 134 22,000 0 0 22,000 03 22,000 0 0 LOCKHEED MARTIN CORP 539830109 7,777 109,100 0 0 109,100 03 109,100 0 0 LOEWS CORP 540424108 246 6,499 0 0 6,499 03 6,499 0 0 LOWE'S COS INC 548661107 3,239 145,300 0 0 145,300 03 145,300 0 0 LSB INDUSTRIES INC 502160104 1,486 80,000 0 0 80,000 03 80,000 0 0 LSI CORP 502161102 54 11,800 0 0 11,800 03 11,800 0 0 LUBRIZOL CORP 549271104 2,607 24,600 0 0 24,600 03 24,600 0 0 LULULEMON ATHLETICA INC 550021109 317 7,095 0 0 7,095 03 7,095 0 0 M & T BANK CORP 55261F104 123 1,500 0 0 1,500 03 1,500 0 0 MACERICH CO/THE 554382101 3,599 83,805 0 0 83,805 03 83,805 0 0 MACY'S INC 55616P104 653 28,300 0 0 28,300 03 28,300 0 0 MANPOWER INC 56418H100 68 1,300 0 0 1,300 03 1,300 0 0 MARATHON OIL CORP 565849106 13,965 421,910 0 0 421,910 03 421,910 0 0 Market Vectors Gold Miners ETF 57060U100 331 5,918 0 0 5,918 01 5,918 0 0 MARKET VECTORS GOLD MINERS 57060U100 1,119 20,000 0 0 20,000 03 20,000 0 0 Market Vectors Jr Gold Miners ETF 57060U589 343 10,254 0 0 10,254 01 10,254 0 0 MARKET VECTORS RUSSIA ETF 57060U506 1,627 50,000 0 0 50,000 03 50,000 0 0 MARRIOTT INTERNATIONAL- CL A 571903202 1,637 45,698 0 0 45,698 03 45,698 0 0 MARSH & MCLENNAN COS 571748102 2,733 113,300 0 0 113,300 03 113,300 0 0 MARSHALL & ILSLEY CORP 571837103 1,763 250,400 0 0 250,400 03 250,400 0 0 Martin Marietta Materials Common U 573284106 698 9,070 0 0 9,070 01 9,070 0 0 MARTIN MARIETTA MATERIALS 573284106 69 900 0 0 900 03 900 0 0 --------- 48,469 Form 13F Information Table GAM Holding Ltd. Page 22 of 37 1 2 3 4 5 6 7 8 Mkt Value -- Investment Discretion -- --- Voting Authority ---- Name of Issuer Type CUSIP $ x1000 # Shares Sole Shared Other Managers Sole Shared None MARVELL TECHNOLOGY GROUP LTD G5876H105 361 20,600 0 0 20,600 03 20,600 0 0 MASCO CORP 574599106 948 86,100 0 0 86,100 03 86,100 0 0 MASSEY ENERGY CO 576206106 2,513 81,000 0 0 81,000 03 81,000 0 0 MASTERCARD INC-CLASS A 57636Q104 4,664 20,820 0 0 20,820 03 20,820 0 0 MATTEL INC 577081102 2,311 98,500 0 0 98,500 03 98,500 0 0 MAXIM INTEGRATED PRODUCTS 57772K101 102 5,500 0 0 5,500 03 5,500 0 0 MCAFEE INC 579064106 142 3,000 0 0 3,000 03 3,000 0 0 MCCORMICK & CO-NON VTG SHRS 579780206 509 12,100 0 0 12,100 03 12,100 0 0 MCDONALD'S CORP 580135101 25,070 336,462 0 0 336,462 03 336,462 0 0 MCGRAW-HILL COMPANIES INC 580645109 1,663 50,300 0 0 50,300 03 50,300 0 0 MCKESSON CORP 58155Q103 1,557 25,200 0 0 25,200 03 25,200 0 0 McKesson Incorporated Common USD0. 58155Q103 4,804 77,780 0 0 77,780 02 01 77,780 0 0 MEAD JOHNSON NUTRITION CO 582839106 219 3,850 0 0 3,850 03 3,850 0 0 MEADWESTVACO CORP 583334107 78 3,200 0 0 3,200 03 3,200 0 0 Mechel-Sponsored ADR (1 Rep. 1 Ord 583840103 886 35,600 0 0 35,600 02 01 35,600 0 0 MECHEL-SPONSORED ADR 583840103 4,631 186,000 0 0 186,000 03 186,000 0 0 MEDCO HEALTH SOLUTIONS INC 58405U102 4,556 87,520 0 0 87,520 03 87,520 0 0 MEDICIS PHARMACEUTICAL-CL A 584690309 593 20,000 0 0 20,000 03 20,000 0 0 MEDTRONIC INC 585055106 9,284 276,460 0 0 276,460 03 276,460 0 0 MEMC ELECTRONIC MATERIALS 552715104 1,508 126,500 0 0 126,500 03 126,500 0 0 Merck & Co. Inc. Common USD0.01 58933Y105 10,523 285,915 0 0 285,915 01 285,915 0 0 Merck & Co. Inc. Common USD0.01 58933Y105 29,173 792,645 0 0 792,645 02 792,645 0 0 MERCK & CO. INC. 58933Y105 26,989 733,189 0 0 733,189 03 733,189 0 0 METLIFE INC 59156R108 11,807 307,070 0 0 307,070 03 307,070 0 0 METROPCS COMMUNICATIONS INC 591708102 254 24,300 0 0 24,300 03 24,300 0 0 --------- 145,143 Form 13F Information Table GAM Holding Ltd. Page 23 of 37 1 2 3 4 5 6 7 8 Mkt Value -- Investment Discretion -- --- Voting Authority ---- Name of Issuer Type CUSIP $ x1000 # Shares Sole Shared Other Managers Sole Shared None MEXICO FUND INC 592835102 1,036 41,000 0 0 41,000 03 41,000 0 0 MGM RESORTS INTERNATIONAL 552953101 56 5,000 0 0 5,000 03 5,000 0 0 MICROCHIP TECHNOLOGY INC 595017104 1,846 58,700 0 0 58,700 03 58,700 0 0 MICRON TECHNOLOGY INC 595112103 1,478 205,000 0 0 205,000 03 205,000 0 0 Micron Technology Inc. Common USD0 595112103 2,522 350,000 0 0 350,000 01 350,000 0 0 MICROS SYSTEMS INC 594901100 1,270 30,000 0 0 30,000 03 30,000 0 0 MICROSOFT CORP 594918104 54,779 2,236,800 0 0 2,236,800 03 2,236,800 0 0 MILLICOM INTL CELLULAR S.A. L6388F110 96 1,000 0 0 1,000 03 1,000 0 0 Millicom Intl Cellular SA Com. USD L6388F110 686 7,150 0 0 7,150 01 7,150 0 0 MINDRAY MEDICAL INTL LTD-ADR 602675100 373 12,600 0 0 12,600 03 12,600 0 0 MOBILE TELESYSTEMS-SP ADR 607409109 8,646 407,247 0 0 407,247 03 407,247 0 0 Mobile Telesystems ADR (1 Rep. 5 O 607409109 1,285 60,550 0 0 60,550 02 01 60,550 0 0 MOHAWK INDUSTRIES INC 608190104 53 1,000 0 0 1,000 03 1,000 0 0 MOLEX INC 608554101 1,011 48,300 0 0 48,300 03 48,300 0 0 MOLSON COORS BREWING CO -B 60871R209 142 3,000 0 0 3,000 03 3,000 0 0 MoneyGram International USD0.01 60935Y109 103 42,000 0 0 42,000 01 42,000 0 0 MONSANTO CO 61166W101 10,379 216,550 0 0 216,550 03 216,550 0 0 Monsanto Company Common USD0.01 61166W101 3,939 82,216 0 0 82,216 01 82,216 0 0 MOODY'S CORP 615369105 97 3,900 0 0 3,900 03 3,900 0 0 Morgan Stanley China A Shares 617468103 553 20,037 0 0 20,037 01 20,037 0 0 MORGAN STANLEY 617446448 4,131 167,380 0 0 167,380 03 167,380 0 0 MOSAIC CO/THE 61945A107 5,512 93,802 0 0 93,802 03 93,802 0 0 MOTOROLA INC 620076109 1,222 143,300 0 0 143,300 03 143,300 0 0 MURPHY OIL CORP 626717102 235 3,798 0 0 3,798 03 3,798 0 0 MYLAN INC 628530107 389 20,700 0 0 20,700 03 20,700 0 0 --------- 101,841 Form 13F Information Table GAM Holding Ltd. Page 24 of 37 1 2 3 4 5 6 7 8 Mkt Value -- Investment Discretion -- --- Voting Authority ---- Name of Issuer Type CUSIP $ x1000 # Shares Sole Shared Other Managers Sole Shared None MYRIAD GENETICS INC 62855J104 148 9,000 0 0 9,000 03 9,000 0 0 NABORS INDUSTRIES LTD G6359F103 452 25,000 0 0 25,000 03 25,000 0 0 NASDAQ OMX GROUP/THE 631103108 2,871 147,760 0 0 147,760 03 147,760 0 0 NATIONAL OILWELL VARCO INC 637071101 3,533 79,444 0 0 79,444 03 79,444 0 0 NATIONAL SEMICONDUCTOR CORP 637640103 568 44,500 0 0 44,500 03 44,500 0 0 NAVISTAR INTERNATIONAL CORP 63934E108 205 4,700 0 0 4,700 03 4,700 0 0 Neopharm Incorporated Common USD0. 640919106 418 1,706,797 0 0 1,706,797 01 1,706,797 0 0 NETAPP INC 64110D104 344 6,900 0 0 6,900 03 6,900 0 0 NETEASE.COM INC-ADR 64110W102 193 4,900 0 0 4,900 03 4,900 0 0 NETFLIX INC 64110L106 146 900 0 0 900 03 900 0 0 NEW YORK COMMUNITY BANCORP 649445103 114 7,000 0 0 7,000 03 7,000 0 0 NEW YORK TIMES CO -CL A 650111107 911 117,720 0 0 117,720 03 117,720 0 0 NEWELL RUBBERMAID INC 651229106 80 4,500 0 0 4,500 03 4,500 0 0 NEWFIELD EXPLORATION CO 651290108 764 13,300 0 0 13,300 03 13,300 0 0 NEWMONT MINING CORP 651639106 18,961 301,886 0 0 301,886 03 301,886 0 0 NEWS CORP-CL A 65248E104 4,372 334,780 0 0 334,780 03 334,780 0 0 News Corp-Class B Com. USD0.01 65248E203 5,039 334,739 0 0 334,739 02 01 334,739 0 0 NEWS CORP-CLASS B 65248E203 130 8,600 0 0 8,600 03 8,600 0 0 NII HOLDINGS INC 62913F201 4,622 112,460 0 0 112,460 03 112,460 0 0 NIKE INC -CL B 654106103 10,635 132,700 0 0 132,700 03 132,700 0 0 NISOURCE INC 65473P105 687 39,470 0 0 39,470 03 39,470 0 0 NOBLE ENERGY INC 655044105 233 3,100 0 0 3,100 03 3,100 0 0 NORDSTROM INC 655664100 3,727 100,200 0 0 100,200 03 100,200 0 0 NORFOLK SOUTHERN CORP 655844108 4,225 71,000 0 0 71,000 03 71,000 0 0 NORTEL NETWORKS CORP 656568508 0 190 0 0 190 03 190 0 0 --------- 63,378 Form 13F Information Table GAM Holding Ltd. Page 25 of 37 1 2 3 4 5 6 7 8 Mkt Value -- Investment Discretion -- --- Voting Authority ---- Name of Issuer Type CUSIP $ x1000 # Shares Sole Shared Other Managers Sole Shared None NORTHEAST UTILITIES 664397106 89 3,000 0 0 3,000 03 3,000 0 0 NORTHERN TRUST CORP 665859104 3,161 65,530 0 0 65,530 03 65,530 0 0 NORTHROP GRUMMAN CORP 666807102 333 5,500 0 0 5,500 03 5,500 0 0 NOVELLUS SYSTEMS INC 670008101 532 20,000 0 0 20,000 03 20,000 0 0 NSTAR 67019E107 87 2,200 0 0 2,200 03 2,200 0 0 NUANCE COMMUNICATIONS INC 67020Y100 64 4,100 0 0 4,100 03 4,100 0 0 NUCOR CORP 670346105 1,291 33,800 0 0 33,800 03 33,800 0 0 NVIDIA CORP 67066G104 2,987 255,750 0 0 255,750 03 255,750 0 0 NXP Semiconductors NV Common NPV N6596X109 2,614 210,600 0 0 210,600 01 210,600 0 0 NYSE EURONEXT 629491101 1,083 37,910 0 0 37,910 03 37,910 0 0 O'REILLY AUTOMOTIVE INC 686091109 138 2,600 0 0 2,600 03 2,600 0 0 OCCIDENTAL PETROLEUM CORP 674599105 13,749 175,600 0 0 175,600 03 175,600 0 0 Oclaro Inc. Common USD0.01 67555N206 629 39,323 0 0 39,323 02 39,323 0 0 OLD REPUBLIC INTL CORP 680223104 50 3,600 0 0 3,600 03 3,600 0 0 --------- 26,717 Form 13F Information Table GAM Holding Ltd. Page 26 of 37 1 2 3 4 5 6 7 8 Mkt Value -- Investment Discretion -- --- Voting Authority ---- Name of Issuer Type CUSIP $ x1000 # Shares Sole Shared Other Managers Sole Shared None OMNICARE INC 681904108 60 2,500 0 0 2,500 03 2,500 0 0 OMNICOM GROUP 681919106 2,989 75,700 0 0 75,700 03 75,700 0 0 On Semiconductor Corp. Com. USD0.0 682189105 1,036 143,750 0 0 143,750 01 143,750 0 0 ONEOK INC 682680103 90 2,000 0 0 2,000 03 2,000 0 0 ONYX PHARMACEUTICALS INC 683399109 132 5,000 0 0 5,000 03 5,000 0 0 ORACLE CORP 68389X105 28,865 1,075,030 0 0 1,075,030 03 1,075,030 0 0 OWENS-ILLINOIS INC 690768403 222 7,900 0 0 7,900 03 7,900 0 0 P G & E CORP 69331C108 5,759 126,800 0 0 126,800 03 126,800 0 0 PACCAR INC 693718108 613 12,725 0 0 12,725 03 12,725 0 0 PACTIV CORPORATION 695257105 79 2,400 0 0 2,400 03 2,400 0 0 PALL CORP 696429307 87 2,100 0 0 2,100 03 2,100 0 0 Pall Corp. Common USD0.10 696429307 2,417 58,030 0 0 58,030 01 58,030 0 0 PARKER HANNIFIN CORP 701094104 2,563 36,590 0 0 36,590 03 36,590 0 0 PATTERSON COS INC 703395103 54 1,900 0 0 1,900 03 1,900 0 0 PAYCHEX INC 704326107 165 6,000 0 0 6,000 03 6,000 0 0 PEABODY ENERGY CORP 704549104 11,523 235,121 0 0 235,121 03 235,121 0 0 Penske Auto Group Inc. Common USD0 70959W103 3,957 300,000 0 0 300,000 01 300,000 0 0 PENTAIR INC 709631105 2,859 85,000 0 0 85,000 03 85,000 0 0 PEOPLE'S UNITED FINANCIAL 712704105 102 7,800 0 0 7,800 03 7,800 0 0 PEPCO HOLDINGS INC 713291102 95 5,100 0 0 5,100 03 5,100 0 0 PEPSICO INC 713448108 33,681 506,933 0 0 506,933 03 506,933 0 0 PepsiCo Incorporated Com. USD0.017 713448108 3,188 47,980 0 0 47,980 02 01 47,980 0 0 PERKINELMER INC 714046109 926 40,000 0 0 40,000 03 40,000 0 0 PERRIGO CO 714290103 103 1,600 0 0 1,600 03 1,600 0 0 PETROCHINA CO LTD -ADR 71646E100 151 1,300 0 0 1,300 03 1,300 0 0 --------- 101,715 Form 13F Information Table GAM Holding Ltd. Page 27 of 37 1 2 3 4 5 6 7 8 Mkt Value -- Investment Discretion -- --- Voting Authority ---- Name of Issuer Type CUSIP $ x1000 # Shares Sole Shared Other Managers Sole Shared None PETROHAWK ENERGY CORP 716495106 738 45,700 0 0 45,700 03 45,700 0 0 Petrohawk Energy Corp. Common USD0 716495106 4,440 275,000 0 0 275,000 01 275,000 0 0 PETROLEO BRASILEIRO-SPON ADR 71654V101 10,878 331,450 0 0 331,450 03 331,450 0 0 PETROLEO BRASILEIRO S.A.-ADR 71654V408 6,203 171,023 0 0 171,023 03 171,023 0 0 Petroleo Brasileiro SA ADR (1 Rep 71654V408 1,498 41,300 0 0 41,300 02 01 41,300 0 0 PETSMART INC 716768106 77 2,200 0 0 2,200 03 2,200 0 0 PFIZER INC 717081103 42,647 2,483,816 0 0 2,483,816 03 2,483,816 0 0 Pfizer Incorporated Common USD0.05 717081103 24,734 1,440,134 0 0 1,440,134 01 1,440,134 0 0 Pfizer Incorporated Common USD0.05 717081103 3,185 185,420 0 0 185,420 02 01 185,420 0 0 Pfizer Incorporated Common USD0.05 717081103 70,967 4,132,246 0 0 4,132,246 02 4,132,246 0 0 PHARMACEUTICAL PRODUCT DEVEL 717124101 45 1,800 0 0 1,800 03 1,800 0 0 PHILIP MORRIS INTERNATIONAL 718172109 22,245 397,090 0 0 397,090 03 397,090 0 0 PHILIPPINE LONG DIST -SP ADR 718252604 644 10,753 0 0 10,753 03 10,753 0 0 PIONEER NATURAL RESOURCES CO 723787107 143 2,200 0 0 2,200 03 2,200 0 0 PIPER JAFFRAY COS 724078100 1 43 0 0 43 03 43 0 0 PITNEY BOWES INC 724479100 83 3,900 0 0 3,900 03 3,900 0 0 PLAINS EXPLORATION & PRODUCT 726505100 64 2,400 0 0 2,400 03 2,400 0 0 PLUM CREEK TIMBER CO 729251108 3,643 103,200 0 0 103,200 03 103,200 0 0 PNC FINANCIAL SERVICES GROUP 693475105 2,855 55,006 0 0 55,006 03 55,006 0 0 POLO RALPH LAUREN CORP 731572103 5,077 56,500 0 0 56,500 03 56,500 0 0 Polypore International Inc. Com. U 73179V103 367 12,190 0 0 12,190 01 12,190 0 0 POSCO-ADR 693483109 171 1,500 0 0 1,500 03 1,500 0 0 POST PROPERTIES INC 737464107 380 13,600 0 0 13,600 03 13,600 0 0 Power-One Inc.Com USD0.001 73930R102 10,448 1,150,000 0 0 1,150,000 01 1,150,000 0 0 POWER INTEGRATIONS INC 739276103 985 31,000 0 0 31,000 03 31,000 0 0 --------- 212,518 Form 13F Information Table GAM Holding Ltd. Page 28 of 37 1 2 3 4 5 6 7 8 Mkt Value -- Investment Discretion -- --- Voting Authority ---- Name of Issuer Type CUSIP $ x1000 # Shares Sole Shared Other Managers Sole Shared None POWERSHARES QQQ NASDAQ 100 73935A104 982 20,000 0 0 20,000 03 20,000 0 0 PPG INDUSTRIES INC 693506107 240 3,300 0 0 3,300 03 3,300 0 0 PRAXAIR INC 74005P104 3,886 43,050 0 0 43,050 03 43,050 0 0 PRECISION CASTPARTS CORP 740189105 949 7,453 0 0 7,453 03 7,453 0 0 PRICELINE.COM INC 741503403 279 800 0 0 800 03 800 0 0 PRIDE INTERNATIONAL INC 74153Q102 3,829 130,100 0 0 130,100 03 130,100 0 0 PRINCIPAL FINANCIAL GROUP 74251V102 166 6,400 0 0 6,400 03 6,400 0 0 PROCTER & GAMBLE CO/THE 742718109 39,007 650,437 0 0 650,437 03 650,437 0 0 PROGRESS ENERGY INC 743263105 1,760 39,620 0 0 39,620 03 39,620 0 0 PROGRESSIVE CORP 743315103 1,488 71,300 0 0 71,300 03 71,300 0 0 PROLOGIS 743410102 2,178 184,900 0 0 184,900 03 184,900 0 0 Proshares Short S&P 500 74347R503 440 9,004 0 0 9,004 01 9,004 0 0 PRUDENTIAL FINANCIAL INC 744320102 5,171 95,437 0 0 95,437 03 95,437 0 0 PS BUSINESS PARKS INC/CA 69360J107 285 5,040 0 0 5,040 03 5,040 0 0 PUBLIC STORAGE 74460D109 7,783 80,200 0 0 80,200 03 80,200 0 0 PULTE GROUP INC 745867101 842 96,100 0 0 96,100 03 96,100 0 0 QLOGIC CORP 747277101 706 40,000 0 0 40,000 03 40,000 0 0 QUALCOMM INC 747525103 17,820 394,940 0 0 394,940 03 394,940 0 0 QUANTA SERVICES INC 74762E102 7,338 384,600 0 0 384,600 03 384,600 0 0 QUEST DIAGNOSTICS 74834L100 141 2,800 0 0 2,800 03 2,800 0 0 QUIMICA Y MINERA CHIL-SP ADR 833635105 1,677 34,759 0 0 34,759 03 34,759 0 0 QWEST COMMUNICATIONS INTL 749121109 823 131,200 0 0 131,200 03 131,200 0 0 R.R. Donnelley & Sons Co. Comm. US 257867101 3,391 200,000 0 0 200,000 01 200,000 0 0 RALCORP HOLDINGS INC 751028101 1,058 18,100 0 0 18,100 03 18,100 0 0 RANDGOLD RESOURCES LTD-ADR 752344309 3,287 32,400 0 0 32,400 03 32,400 0 0 --------- 105,524 Form 13F Information Table GAM Holding Ltd. Page 29 of 37 1 2 3 4 5 6 7 8 Mkt Value -- Investment Discretion -- --- Voting Authority ---- Name of Issuer Type CUSIP $ x1000 # Shares Sole Shared Other Managers Sole Shared None RANGE RESOURCES CORP 75281A109 1,632 42,800 0 0 42,800 03 42,800 0 0 RAYTHEON COMPANY 755111507 2,153 47,100 0 0 47,100 03 47,100 0 0 RED HAT INC 756577102 976 23,800 0 0 23,800 03 23,800 0 0 REGENCY CENTERS CORP 758849103 2,644 67,000 0 0 67,000 03 67,000 0 0 REGENERON PHARMACEUTICALS 75886F107 274 10,000 0 0 10,000 03 10,000 0 0 REGIONS FINANCIAL CORP 7591EP100 3,502 481,643 0 0 481,643 03 481,643 0 0 REGIS CORP 758932107 778 40,670 0 0 40,670 03 40,670 0 0 RENESOLA LTD-ADR 75971T103 625 50,000 0 0 50,000 03 50,000 0 0 REPUBLIC SERVICES INC 760759100 824 27,035 0 0 27,035 03 27,035 0 0 Retalix Limited ILS1.00 M8215W109 351 29,021 0 0 29,021 01 29,021 0 0 RIO TINTO PLC-SPON ADR 767204100 1,116 19,010 0 0 19,010 03 19,010 0 0 Ritchie Bros. Auctioneers Inc. Com 767744105 767 36,970 0 0 36,970 01 36,970 0 0 ROBERT HALF INTL INC 770323103 1,102 42,400 0 0 42,400 03 42,400 0 0 ROCKWELL AUTOMATION INC 773903109 167 2,700 0 0 2,700 03 2,700 0 0 ROCKWELL COLLINS INC. 774341101 163 2,800 0 0 2,800 03 2,800 0 0 ROPER INDUSTRIES INC 776696106 1,030 15,800 0 0 15,800 03 15,800 0 0 ROSS STORES INC 778296103 4,719 86,400 0 0 86,400 03 86,400 0 0 ROWAN COMPANIES INC 779382100 3,652 120,300 0 0 120,300 03 120,300 0 0 RR DONNELLEY & SONS CO 257867101 59 3,500 0 0 3,500 03 3,500 0 0 RUBICON TECHNOLOGY INC 78112T107 590 26,000 0 0 26,000 03 26,000 0 0 Ryanair Holdings PLC ADR (1 rep. 5 783513104 1,436 46,620 0 0 46,620 01 46,620 0 0 RYDER SYSTEM INC 783549108 428 10,000 0 0 10,000 03 10,000 0 0 SAFEWAY INC 786514208 2,303 108,840 0 0 108,840 03 108,840 0 0 SAKS INC 79377W108 363 42,200 0 0 42,200 03 42,200 0 0 SALESFORCE.COM INC 79466L302 235 2,100 0 0 2,100 03 2,100 0 0 --------- 31,890 Form 13F Information Table GAM Holding Ltd. Page 30 of 37 1 2 3 4 5 6 7 8 Mkt Value -- Investment Discretion -- --- Voting Authority ---- Name of Issuer Type CUSIP $ x1000 # Shares Sole Shared Other Managers Sole Shared None SALIX PHARMACEUTICALS LTD 795435106 477 12,000 0 0 12,000 03 12,000 0 0 SANDISK CORP 80004C101 1,253 34,200 0 0 34,200 03 34,200 0 0 SARA LEE CORP 803111103 3,473 258,600 0 0 258,600 03 258,600 0 0 Sara Lee Corporation Common USD0.0 803111103 15,178 1,129,726 0 0 1,129,726 01 1,129,726 0 0 Sara Lee Corporation Common USD0.0 803111103 51,932 3,865,723 0 0 3,865,723 02 3,865,723 0 0 SASOL LTD-SPONSORED ADR 803866300 250 5,579 0 0 5,579 03 5,579 0 0 SBA COMMUNICATIONS CORP-CL A 78388J106 89 2,200 0 0 2,200 03 2,200 0 0 SCHLUMBERGER LTD 806857108 13,627 221,183 0 0 221,183 03 221,183 0 0 Schlumberger Ltd. Com. USD0.01 806857108 1,903 30,890 0 0 30,890 01 30,890 0 0 SCHWAB (CHARLES) CORP 808513105 1,504 108,200 0 0 108,200 03 108,200 0 0 SCRIPPS NETWORKS INTER-CL A 811065101 90 1,900 0 0 1,900 03 1,900 0 0 Seagate Technology Common USD0.000 G7945M107 4,260 361,771 0 0 361,771 01 361,771 0 0 SEALED AIR CORP 81211K100 74 3,300 0 0 3,300 03 3,300 0 0 SEARS HOLDINGS CORP 812350106 65 900 0 0 900 03 900 0 0 SEI INVESTMENTS COMPANY 784117103 47 2,300 0 0 2,300 03 2,300 0 0 SEMPRA ENERGY 816851109 5,084 94,500 0 0 94,500 03 94,500 0 0 SHAW GROUP INC 820280105 1,561 46,500 0 0 46,500 03 46,500 0 0 Sherwin-Williams Co. Common USD1.0 824348106 2,481 33,000 0 0 33,000 01 33,000 0 0 SHERWIN-WILLIAMS CO/THE 824348106 879 11,700 0 0 11,700 03 11,700 0 0 SHIRE PLC-ADR 82481R106 538 8,000 0 0 8,000 03 8,000 0 0 SIGMA-ALDRICH 826552101 3,593 59,500 0 0 59,500 03 59,500 0 0 SIMON PROPERTY GROUP INC 828806109 17,968 193,747 0 0 193,747 03 193,747 0 0 SK TELECOM CO LTD-ADR 78440P108 2,603 149,017 0 0 149,017 03 149,017 0 0 SL GREEN REALTY CORP 78440X101 1,336 21,100 0 0 21,100 03 21,100 0 0 SLM CORP 78442P106 408 35,300 0 0 35,300 03 35,300 0 0 --------- 130,673 Form 13F Information Table GAM Holding Ltd. Page 31 of 37 1 2 3 4 5 6 7 8 Mkt Value -- Investment Discretion -- --- Voting Authority ---- Name of Issuer Type CUSIP $ x1000 # Shares Sole Shared Other Managers Sole Shared None SOHU.COM INC 83408W103 2,452 42,550 0 0 42,550 03 42,550 0 0 SOUTHERN CO 842587107 2,149 57,700 0 0 57,700 03 57,700 0 0 SOUTHERN COPPER CORP 84265V105 11,946 340,142 0 0 340,142 03 340,142 0 0 SOUTHWEST AIRLINES CO 844741108 1,344 102,800 0 0 102,800 03 102,800 0 0 SOUTHWESTERN ENERGY CO 845467109 6,915 206,800 0 0 206,800 03 206,800 0 0 Spansion Inc. Class A Com. USD0.00 84649R101 0 1,000,000 0 0 1,000,000 01 1,000,000 0 0 SPDR GOLD TRUST 78463V107 640 5,000 0 0 5,000 03 5,000 0 0 SPDR Gold Trust 78463V107 1,032 8,070 0 0 8,070 01 8,070 0 0 SPDR S&P 500 ETF TRUST 78462F103 4,902 42,950 0 0 42,950 03 42,950 0 0 SPDR Trust Unit Series 1 78462F103 1,542 13,516 0 0 13,516 01 13,516 0 0 SPRINT NEXTEL CORP 852061100 962 207,800 0 0 207,800 03 207,800 0 0 Sprint Nextel Corp. Common USD2.00 852061100 8,366 1,808,811 0 0 1,808,811 01 1,808,811 0 0 Sprint Nextel Corp. Common USD2.00 852061100 28,024 6,060,581 0 0 6,060,581 02 6,060,581 0 0 SPX CORP 784635104 63 1,000 0 0 1,000 03 1,000 0 0 ST JUDE MEDICAL INC 790849103 1,656 42,100 0 0 42,100 03 42,100 0 0 St. Joe Corporation Common NPV 790148100 2,254 90,690 0 0 90,690 02 01 90,690 0 0 STANLEY BLACK & DECKER INC 854502101 176 2,875 0 0 2,875 03 2,875 0 0 STAPLES INC 855030102 908 43,400 0 0 43,400 03 43,400 0 0 STARBUCKS CORP 855244109 4,899 191,500 0 0 191,500 03 191,500 0 0 STARWOOD HOTELS & RESORTS 85590A401 4,662 88,720 0 0 88,720 03 88,720 0 0 STATE STREET CORP 857477103 1,867 49,562 0 0 49,562 03 49,562 0 0 STERICYCLE INC 858912108 459 6,600 0 0 6,600 03 6,600 0 0 STILLWATER MINING CO 86074Q102 4,741 281,540 0 0 281,540 03 281,540 0 0 STRAYER EDUCATION INC 863236105 1,745 10,000 0 0 10,000 03 10,000 0 0 STRYKER CORP 863667101 4,592 91,750 0 0 91,750 03 91,750 0 0 --------- 98,295 Form 13F Information Table GAM Holding Ltd. Page 32 of 37 1 2 3 4 5 6 7 8 Mkt Value -- Investment Discretion -- --- Voting Authority ---- Name of Issuer Type CUSIP $ x1000 # Shares Sole Shared Other Managers Sole Shared None SUN COMMUNITIES INC 866674104 138 4,500 0 0 4,500 03 4,500 0 0 SUNOCO INC 86764P109 694 19,003 0 0 19,003 03 19,003 0 0 SUNPOWER CORP-CLASS A 867652109 173 12,000 0 0 12,000 03 12,000 0 0 SUNTRUST BANKS INC 867914103 2,676 103,600 0 0 103,600 03 103,600 0 0 SUPERVALU INC 868536103 44 3,800 0 0 3,800 03 3,800 0 0 SYMANTEC CORP 871503108 2,080 137,120 0 0 137,120 03 137,120 0 0 Synalloy Corporation Common USD1.0 871565107 288 33,750 0 0 33,750 01 33,750 0 0 SYNOPSYS INC 871607107 77 3,100 0 0 3,100 03 3,100 0 0 SYNOVUS FINANCIAL CORP 87161C105 301 122,500 0 0 122,500 03 122,500 0 0 SYSCO CORP 871829107 1,388 48,660 0 0 48,660 03 48,660 0 0 T ROWE PRICE GROUP INC 74144T108 255 5,100 0 0 5,100 03 5,100 0 0 TAIWAN SEMICONDUCTOR-SP ADR 874039100 2,946 290,561 0 0 290,561 03 290,561 0 0 TANGER FACTORY OUTLET CENTER 875465106 438 9,300 0 0 9,300 03 9,300 0 0 TARGET CORP 87612E106 5,996 112,200 0 0 112,200 03 112,200 0 0 TECHNOLOGY SELECT SECT SPDR 81369Y803 345 15,000 0 0 15,000 03 15,000 0 0 TECO ENERGY INC 872375100 294 17,000 0 0 17,000 03 17,000 0 0 TELE NORTE LESTE PART-ADR 879246106 1,381 98,100 0 0 98,100 03 98,100 0 0 TELECOM ARGENTINA SA-SP ADR 879273209 83 3,900 0 0 3,900 03 3,900 0 0 Telecom Argentina SA Spons. (1 Rep 879273209 700 33,000 0 0 33,000 01 33,000 0 0 TELEKOMUNIK INDONESIA-SP ADR 715684106 293 7,098 0 0 7,098 03 7,098 0 0 TELEPHONE AND DATA SYSTEMS 879433100 26 800 0 0 800 03 800 0 0 Tellabs Incorporated Common USD0.0 879664100 6,509 873,070 0 0 873,070 01 873,070 0 0 Tellabs Incorporated Common USD0.0 879664100 21,776 2,921,333 0 0 2,921,333 02 2,921,333 0 0 Tenaris SA ADR (1 ADR Rep. 2 Ord.) 88031M109 606 15,750 0 0 15,750 01 15,750 0 0 Tenet Healthcare Corp. Com. USD0.0 88033G100 707 150,000 0 0 150,000 01 150,000 0 0 --------- 50,214 Form 13F Information Table GAM Holding Ltd. Page 33 of 37 1 2 3 4 5 6 7 8 Mkt Value -- Investment Discretion -- --- Voting Authority ---- Name of Issuer Type CUSIP $ x1000 # Shares Sole Shared Other Managers Sole Shared None TENNECO INC 880349105 840 29,000 0 0 29,000 03 29,000 0 0 TERADYNE INC 880770102 201 18,000 0 0 18,000 03 18,000 0 0 Teradyne Inc. Common USD0.125 880770102 7,879 707,300 0 0 707,300 01 707,300 0 0 TETRA TECHNOLOGIES INC 88162F105 1,020 100,000 0 0 100,000 03 100,000 0 0 TEVA PHARMACEUTICAL-SP ADR 881624209 622 11,800 0 0 11,800 03 11,800 0 0 Teva Pharmaceuticals ADR (1 Rep 1 881624209 1,087 20,600 0 0 20,600 02 01 20,600 0 0 TEXAS INSTRUMENTS INC 882508104 15,671 577,400 0 0 577,400 03 577,400 0 0 Texas Instruments Inc. Common USD1 882508104 5,430 200,000 0 0 200,000 01 200,000 0 0 TEXTRON INC 883203101 115 5,600 0 0 5,600 03 5,600 0 0 TFS FINANCIAL CORP 87240R107 20 2,200 0 0 2,200 03 2,200 0 0 THERMO FISHER SCIENTIFIC INC 883556102 2,542 53,090 0 0 53,090 03 53,090 0 0 TIBCO SOFTWARE INC 88632Q103 177 10,000 0 0 10,000 03 10,000 0 0 TIDEWATER INC 886423102 2,209 49,300 0 0 49,300 03 49,300 0 0 Tidewater Incorporated Common USD0 886423102 1,103 24,580 0 0 24,580 01 24,580 0 0 TIFFANY & CO 886547108 4,328 92,100 0 0 92,100 03 92,100 0 0 TIM PARTICIPACOES SA-ADR 88706P106 645 19,550 0 0 19,550 03 19,550 0 0 Tim Participacoes SA ADR (1 Rep. 1 88706P106 791 24,000 0 0 24,000 02 01 24,000 0 0 TIME WARNER CABLE 88732J207 6,270 116,140 0 0 116,140 03 116,140 0 0 TIME WARNER INC 887317303 5,084 165,865 0 0 165,865 03 165,865 0 0 TIMKEN CO 887389104 219 5,700 0 0 5,700 03 5,700 0 0 Titan International Inc. Common NP 88830M102 3,109 228,830 0 0 228,830 01 228,830 0 0 TJX COMPANIES INC 872540109 1,687 37,800 0 0 37,800 03 37,800 0 0 TOLL BROTHERS INC 889478103 49 2,600 0 0 2,600 03 2,600 0 0 TORCHMARK CORP 891027104 80 1,500 0 0 1,500 03 1,500 0 0 TOTAL SYSTEM SERVICES INC 891906109 43 2,803 0 0 2,803 03 2,803 0 0 --------- 61,221 Form 13F Information Table GAM Holding Ltd. Page 34 of 37 1 2 3 4 5 6 7 8 Mkt Value -- Investment Discretion -- --- Voting Authority ---- Name of Issuer Type CUSIP $ x1000 # Shares Sole Shared Other Managers Sole Shared None TRANSATLANTIC HOLDINGS INC 893521104 71 1,400 0 0 1,400 03 1,400 0 0 TRANSOCEAN LTD H8817H100 45,308 695,795 0 0 695,795 03 695,795 0 0 Transocean Ltd. Com. CHF15.00 H8817H100 3,488 54,230 0 0 54,230 02 01 54,230 0 0 Trimble Navigation Ltd. Common NPV 896239100 414 11,800 0 0 11,800 01 11,800 0 0 TRINA SOLAR LTD-SPON ADR 89628E104 2,605 86,300 0 0 86,300 03 86,300 0 0 Trinity Industries Inc. Common USD 896522109 1,292 57,970 0 0 57,970 01 57,970 0 0 TRUE RELIGION APPAREL INC 89784N104 555 26,000 0 0 26,000 03 26,000 0 0 TRW AUTOMOTIVE HOLDINGS CORP 87264S106 1,068 25,700 0 0 25,700 03 25,700 0 0 TURKCELL ILETISIM HIZMET-ADR 900111204 1,777 106,000 0 0 106,000 03 106,000 0 0 TYSON FOODS INC-CL A 902494103 93 5,800 0 0 5,800 03 5,800 0 0 UDR INC 902653104 1,033 48,925 0 0 48,925 03 48,925 0 0 ULTRA PETROLEUM CORP 903914109 1,175 28,000 0 0 28,000 03 28,000 0 0 UNION PACIFIC CORP 907818108 6,855 83,800 0 0 83,800 03 83,800 0 0 UNITED PARCEL SERVICE-CL B 911312106 8,203 123,000 0 0 123,000 03 123,000 0 0 United Parcel Service Com.Cls B US 911312106 866 12,980 0 0 12,980 01 12,980 0 0 UNITED STATES STEEL CORP 912909108 1,008 23,000 0 0 23,000 03 23,000 0 0 UNITED TECHNOLOGIES CORP 913017109 15,291 214,670 0 0 214,670 03 214,670 0 0 UNITED THERAPEUTICS CORP 91307C102 616 11,000 0 0 11,000 03 11,000 0 0 UNITEDHEALTH GROUP INC 91324P102 8,433 240,180 0 0 240,180 03 240,180 0 0 UNUM GROUP 91529Y106 131 5,900 0 0 5,900 03 5,900 0 0 URBAN OUTFITTERS INC 917047102 701 22,300 0 0 22,300 03 22,300 0 0 US BANCORP 902973304 6,616 306,000 0 0 306,000 03 306,000 0 0 USA Truck Incorporated Common USD0 902925106 7,490 500,000 0 0 500,000 01 500,000 0 0 UTILITIES HOLDRS TRUST 918019100 983 10,000 0 0 10,000 03 10,000 0 0 Utilities Select Sector SPDR Fund 81369Y886 978 31,164 0 0 31,164 01 31,164 0 0 --------- 117,048 Form 13F Information Table GAM Holding Ltd. Page 35 of 37 1 2 3 4 5 6 7 8 Mkt Value -- Investment Discretion -- --- Voting Authority ---- Name of Issuer Type CUSIP $ x1000 # Shares Sole Shared Other Managers Sole Shared None UTILITIES SELECT SECTOR SPDR 81369Y886 2,822 90,000 0 0 90,000 03 90,000 0 0 VALE SA-SP ADR 91912E105 15,363 491,315 0 0 491,315 03 491,315 0 0 Vale SA - SP ADR (1 Reps. 1 Ord.) 91912E105 1,729 55,300 0 0 55,300 02 01 55,300 0 0 VALERO ENERGY CORP 91913Y100 2,001 114,300 0 0 114,300 03 114,300 0 0 Vanguard Financials ETF 92204A405 58 1,950 0 0 1,950 01 1,950 0 0 VARIAN MEDICAL SYSTEMS INC 92220P105 448 7,400 0 0 7,400 03 7,400 0 0 VEECO INSTRUMENTS INC 922417100 234 6,700 0 0 6,700 03 6,700 0 0 VENTAS INC 92276F100 3,048 59,100 0 0 59,100 03 59,100 0 0 VERIFONE SYSTEMS INC 92342Y109 956 30,780 0 0 30,780 03 30,780 0 0 VERISIGN INC 92343E102 117 3,700 0 0 3,700 03 3,700 0 0 VERISK ANALYTICS INC-CLASS A 92345Y106 56 2,000 0 0 2,000 03 2,000 0 0 VERIZON COMMUNICATIONS INC 92343V104 14,614 448,419 0 0 448,419 03 448,419 0 0 VERTEX PHARMACEUTICALS INC 92532F100 1,445 41,800 0 0 41,800 03 41,800 0 0 VF CORP 918204108 2,819 34,800 0 0 34,800 03 34,800 0 0 VIACOM INC-CLASS B 92553P201 4,553 125,820 0 0 125,820 03 125,820 0 0 Viad Corporation Common USD 1.50 92552R406 203 10,500 0 0 10,500 01 10,500 0 0 VIRGIN MEDIA INC 92769L101 136 5,900 0 0 5,900 03 5,900 0 0 Virgin Media Inc. Com. USD0.01 92769L101 3,736 162,000 0 0 162,000 01 162,000 0 0 VIROPHARMA INC 928241108 149 10,000 0 0 10,000 03 10,000 0 0 VISA INC-CLASS A SHARES 92826C839 9,682 130,384 0 0 130,384 03 130,384 0 0 VMWARE INC-CLASS A 928563402 119 1,400 0 0 1,400 03 1,400 0 0 VORNADO REALTY TRUST 929042109 8,809 102,993 0 0 102,993 03 102,993 0 0 VULCAN MATERIALS CO 929160109 749 20,300 0 0 20,300 03 20,300 0 0 Vulcan Materials Company Common US 929160109 655 17,750 0 0 17,750 01 17,750 0 0 Wabtec Corporation Common USD0.01 929740108 1,119 23,410 0 0 23,410 01 23,410 0 0 --------- 75,621 Form 13F Information Table GAM Holding Ltd. Page 36 of 37 1 2 3 4 5 6 7 8 Mkt Value -- Investment Discretion -- --- Voting Authority ---- Name of Issuer Type CUSIP $ x1000 # Shares Sole Shared Other Managers Sole Shared None WAL-MART STORES INC 931142103 39,683 741,460 0 0 741,460 03 741,460 0 0 WALGREEN CO 931422109 10,666 318,399 0 0 318,399 03 318,399 0 0 Walgreen Company Common USD0.07812 931422109 2,379 71,040 0 0 71,040 02 01 71,040 0 0 WALT DISNEY CO/THE 254687106 9,461 285,759 0 0 285,759 03 285,759 0 0 WALTER ENERGY INC 93317Q105 37 460 0 0 460 03 460 0 0 WASHINGTON POST-CLASS B 939640108 40 100 0 0 100 03 100 0 0 WASTE MANAGEMENT INC 94106L109 3,935 110,100 0 0 110,100 03 110,100 0 0 WATERS CORP 941848103 2,435 34,400 0 0 34,400 03 34,400 0 0 WATSON PHARMACEUTICALS INC 942683103 85 2,000 0 0 2,000 03 2,000 0 0 WEATHERFORD INTL LTD H27013103 284 16,600 0 0 16,600 03 16,600 0 0 Weatherford Intl. Ltd. Com. USD1.0 H27013103 1,882 110,090 0 0 110,090 01 110,090 0 0 WEINGARTEN REALTY INVESTORS 948741103 672 30,800 0 0 30,800 03 30,800 0 0 WELLPOINT INC 94973V107 2,583 45,600 0 0 45,600 03 45,600 0 0 WELLS FARGO & CO 949746101 20,221 804,658 0 0 804,658 03 804,658 0 0 Wells Fargo & Co. Com. USD1.666 949746101 1,800 71,676 0 0 71,676 01 71,676 0 0 WENDY'S/ARBY'S GROUP INC-A 950587105 6,750 1,490,000 0 0 1,490,000 03 1,490,000 0 0 WESTERN DIGITAL CORP 958102105 977 34,400 0 0 34,400 03 34,400 0 0 WESTERN UNION CO 959802109 2,172 122,900 0 0 122,900 03 122,900 0 0 WEYERHAEUSER CO 962166104 162 10,290 0 0 10,290 03 10,290 0 0 WHIRLPOOL CORP 963320106 1,822 22,500 0 0 22,500 03 22,500 0 0 WHITE MOUNTAINS INSURANCE GP G9618E107 42 136 0 0 136 03 136 0 0 WHOLE FOODS MARKET INC 966837106 880 23,700 0 0 23,700 03 23,700 0 0 Williams-Sonoma Inc. Common USD0.0 969904101 4,716 148,680 0 0 148,680 02 01 148,680 0 0 Williams Companies Inc. Common USD 969457100 1,196 62,537 0 0 62,537 01 62,537 0 0 WILLIAMS COS INC 969457100 2,454 128,400 0 0 128,400 03 128,400 0 0 --------- 117,333 Form 13F Information Table GAM Holding Ltd. Page 37 of 37 1 2 3 4 5 6 7 8 Mkt Value -- Investment Discretion -- --- Voting Authority ---- Name of Issuer Type CUSIP $ x1000 # Shares Sole Shared Other Managers Sole Shared None WILLIS GROUP HOLDINGS PLC G96666105 102 3,300 0 0 3,300 03 3,300 0 0 WIMM-BILL-DANN FOODS-ADR 97263M109 703 31,100 0 0 31,100 03 31,100 0 0 WINDSTREAM CORP 97381W104 449 36,500 0 0 36,500 03 36,500 0 0 WISCONSIN ENERGY CORP 976657106 4,219 73,000 0 0 73,000 03 73,000 0 0 WR BERKLEY CORP 084423102 73 2,700 0 0 2,700 03 2,700 0 0 WR Berkley Corp. Common USD0.20 084423102 8,123 300,000 0 0 300,000 01 300,000 0 0 WW GRAINGER INC 384802104 155 1,300 0 0 1,300 03 1,300 0 0 XCEL ENERGY INC 98389B100 193 8,400 0 0 8,400 03 8,400 0 0 XEROX CORP 984121103 2,339 226,000 0 0 226,000 03 226,000 0 0 XILINX INC 983919101 1,309 49,200 0 0 49,200 03 49,200 0 0 Xilinx Inc. Common USD0.01 983919101 10,781 404,700 0 0 404,700 01 404,700 0 0 YAHOO! INC 984332106 1,865 131,600 0 0 131,600 03 131,600 0 0 Yahoo! Incorporated Common USD0.00 984332106 4,642 327,476 0 0 327,476 01 327,476 0 0 Yahoo! Incorporated Common USD0.00 984332106 15,934 1,124,198 0 0 1,124,198 02 1,124,198 0 0 YUM! BRANDS INC 988498101 2,414 52,400 0 0 52,400 03 52,400 0 0 Yum! Brands Inc. Com. NPV 988498101 4,896 106,340 0 0 106,340 02 01 106,340 0 0 ZIMMER HOLDINGS INC 98956P102 1,431 27,350 0 0 27,350 03 27,350 0 0 ZIONS BANCORPORATION 989701107 2,029 95,000 0 0 95,000 03 95,000 0 0 --------- 61,658 ========= 3,451,661
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