0000930413-11-007332.txt : 20111114 0000930413-11-007332.hdr.sgml : 20111111 20111114130919 ACCESSION NUMBER: 0000930413-11-007332 CONFORMED SUBMISSION TYPE: 13F-HR PUBLIC DOCUMENT COUNT: 1 CONFORMED PERIOD OF REPORT: 20110930 FILED AS OF DATE: 20111114 DATE AS OF CHANGE: 20111114 EFFECTIVENESS DATE: 20111114 FILER: COMPANY DATA: COMPANY CONFORMED NAME: GAM Holding Ltd. CENTRAL INDEX KEY: 0001438848 IRS NUMBER: 000000000 FISCAL YEAR END: 1231 FILING VALUES: FORM TYPE: 13F-HR SEC ACT: 1934 Act SEC FILE NUMBER: 028-13808 FILM NUMBER: 111200240 BUSINESS ADDRESS: STREET 1: KLAUSTRASSE 10 CITY: ZURICH STATE: V8 ZIP: 999999999 BUSINESS PHONE: 212-407-4600 MAIL ADDRESS: STREET 1: C/O GAM USA INC STREET 2: ONE ROCKEFELLER PLAZA CITY: NEW YORK STATE: NY ZIP: 10020 FORMER COMPANY: FORMER CONFORMED NAME: Julius Baer Holding Ltd. DATE OF NAME CHANGE: 20080627 13F-HR 1 c67551_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: 09/30/11 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 11/08/11 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: 1,256 Form 13F Information Table Value Total: $4,348,072 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 50 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 21VIANET GROUP INC-ADR 90138A103 298 30,000 0 0 30,000 03 30,000 0 0 21Vianet Group Inc. ADR (1 Rep. 6 90138A103 387 38,100 0 0 38,100 01 38,100 0 0 3M CO 88579Y101 16,679 232,335 0 0 232,335 03 232,335 0 0 3M Company Common USD0.01 88579Y101 10,800 150,440 0 0 150,440 01 150,440 0 0 ABBOTT LABORATORIES 002824100 21,754 425,390 0 0 425,390 03 425,390 0 0 ABERCROMBIE & FITCH CO-CL A 002896207 1,360 22,100 0 0 22,100 03 22,100 0 0 ABERDEEN LATIN AMERICAN EQTY 00306K106 1,648 56,492 0 0 56,492 03 56,492 0 0 ABITIBIBOWATER INC 003687209 3,525 235,000 0 0 235,000 03 235,000 0 0 Abovenet Inc. Com. USD0.01 00374N107 54 1,000 0 0 1,000 01 1,000 0 0 ACADIA REALTY TRUST 004239109 203 10,850 0 0 10,850 03 10,850 0 0 Accenture Plc-Cl A Com. USD0.00002 G1151C101 12,185 231,300 0 0 231,300 01 231,300 0 0 ACTIVISION BLIZZARD INC 00507V109 3,671 308,500 0 0 308,500 03 308,500 0 0 ADOBE SYSTEMS INC 00724F101 5,518 228,315 0 0 228,315 03 228,315 0 0 ADVANCE AUTO PARTS INC 00751Y106 93 1,600 0 0 1,600 03 1,600 0 0 ADVANCED BATTERY TECHNOLOGIE 00752H102 20 20,000 0 0 20,000 03 20,000 0 0 ADVANCED MICRO DEVICES 007903107 207 40,700 0 0 40,700 03 40,700 0 0 AECOM TECHNOLOGY CORP 00766T100 133 7,500 0 0 7,500 03 7,500 0 0 Aecom Technology Corp. Com. USD0.0 00766T100 873 49,400 0 0 49,400 01 49,400 0 0 AEROPOSTALE INC 007865108 739 68,400 0 0 68,400 03 68,400 0 0 AES CORP 00130H105 610 62,500 0 0 62,500 03 62,500 0 0 AETNA INC 00817Y108 2,337 64,300 0 0 64,300 03 64,300 0 0 AFFYMAX INC 00826A109 58 13,000 0 0 13,000 03 13,000 0 0 AFLAC INC 001055102 1,401 40,100 0 0 40,100 03 40,100 0 0 AGCO CORP 001084102 76 2,200 0 0 2,200 03 2,200 0 0 AGILENT TECHNOLOGIES INC 00846U101 1,113 35,600 0 0 35,600 03 35,600 0 0 --------- 85,743

Form 13F Information Table GAM Holding Ltd. Page 2 of 50 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 Agilent Technologies Inc. Common U 00846U101 716 22,900 0 0 22,900 01 22,900 0 0 AIG 19.01.21 CW/AIG 026874156 9 1,415 0 0 1,415 03 1,415 0 0 AIR PRODUCTS & CHEMICALS INC 009158106 3,169 41,500 0 0 41,500 03 41,500 0 0 AIRGAS INC 009363102 1,372 21,500 0 0 21,500 03 21,500 0 0 AK STEEL HOLDING CORP 001547108 262 40,000 0 0 40,000 03 40,000 0 0 AKAMAI TECHNOLOGIES INC 00971T101 507 25,500 0 0 25,500 03 25,500 0 0 AKORN INC 009728106 469 60,000 0 0 60,000 03 60,000 0 0 ALCOA INC 013817101 4,816 503,210 0 0 503,210 03 503,210 0 0 ALEXANDER'S INC 014752109 217 600 0 0 600 03 600 0 0 ALEXANDRIA REAL ESTATE EQUIT 015271109 1,046 17,040 0 0 17,040 03 17,040 0 0 ALEXION PHARMACEUTICALS INC 015351109 1,413 22,058 0 0 22,058 03 22,058 0 0 ALLEGHENY TECHNOLOGIES INC 01741R102 255 6,900 0 0 6,900 03 6,900 0 0 ALLERGAN INC 018490102 7,060 85,700 0 0 85,700 03 85,700 0 0 ALLIANCE DATA SYSTEMS CORP 018581108 751 8,100 0 0 8,100 03 8,100 0 0 Alliancebernstein Holding LP Com. 01881G106 232 17,000 0 0 17,000 01 17,000 0 0 ALLIANT ENERGY CORP 018802108 542 14,000 0 0 14,000 03 14,000 0 0 ALLIED NEVADA GOLD CORP 019344100 58 1,600 0 0 1,600 03 1,600 0 0 Allot Communications Ltd. Com. USD M0854Q105 472 48,400 0 0 48,400 01 48,400 0 0 ALLSTATE CORP 020002101 1,457 61,500 0 0 61,500 03 61,500 0 0 Alpha Natural Resour. Inc. Com. US 02076X102 863 48,816 0 0 48,816 01 48,816 0 0 ALPHA NATURAL RESOURCES INC 02076X102 92 5,200 0 0 5,200 03 5,200 0 0 ALTERA CORP 021441100 224 7,100 0 0 7,100 03 7,100 0 0 ALTRIA GROUP INC 02209S103 8,245 307,550 0 0 307,550 03 307,550 0 0 AMAZON.COM INC 023135106 10,660 49,300 0 0 49,300 03 49,300 0 0 Ambow Education Holding ADR (1 Rep 02322P101 171 25,000 0 0 25,000 01 25,000 0 0 --------- 45,077

Form 13F Information Table GAM Holding Ltd. Page 3 of 50 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 AMC Networks Inc. A W/I Com. NPV 00164V103 376 11,750 0 0 11,750 01 11,750 0 0 AMEDISYS INC 023436108 459 31,000 0 0 31,000 03 31,000 0 0 AMEREN CORPORATION 023608102 1,064 35,730 0 0 35,730 03 35,730 0 0 AMERESCO INC-CL A 02361E108 1,854 182,440 0 0 182,440 03 182,440 0 0 AMERICA MOVIL-ADR SERIES L 02364W105 2,592 117,400 0 0 117,400 03 117,400 0 0 America Movil-ADR SL NPV(1 Rep 20 02364W105 662 30,000 0 0 30,000 01 30,000 0 0 AMERICAN CAMPUS COMMUNITIES 024835100 701 18,829 0 0 18,829 03 18,829 0 0 AMERICAN ELECTRIC POWER 025537101 1,990 52,336 0 0 52,336 03 52,336 0 0 AMERICAN EXPRESS CO 025816109 14,625 325,720 0 0 325,720 03 325,720 0 0 American Express Company Common US 025816109 1,122 25,000 0 0 25,000 01 25,000 0 0 AMERICAN INTERNATIONAL GROUP 026874784 471 21,450 0 0 21,450 03 21,450 0 0 AMERICAN TOWER CORP-CL A 029912201 2,615 48,600 0 0 48,600 03 48,600 0 0 AMERICAN WATER WORKS CO INC 030420103 3,383 112,100 0 0 112,100 03 112,100 0 0 AMERIPRISE FINANCIAL INC 03076C106 1,185 30,100 0 0 30,100 03 30,100 0 0 AMERISOURCEBERGEN CORP 03073E105 1,088 29,200 0 0 29,200 03 29,200 0 0 AMETEK INC 031100100 107 3,250 0 0 3,250 03 3,250 0 0 AMETEK Incorporated Common USD0.01 031100100 115 3,500 0 0 3,500 01 3,500 0 0 AMGEN INC 031162100 18,169 330,645 0 0 330,645 03 330,645 0 0 Ampco Pittsburgh Common USD1.00 032037103 20 1,000 0 0 1,000 01 1,000 0 0 AMPHENOL CORP-CL A 032095101 567 13,900 0 0 13,900 03 13,900 0 0 ANADARKO PETROLEUM CORP 032511107 5,100 80,890 0 0 80,890 03 80,890 0 0 Anadarko Petroleum Corp. Common US 032511107 126 2,000 0 0 2,000 01 2,000 0 0 ANALOG DEVICES INC 032654105 3,856 123,400 0 0 123,400 03 123,400 0 0 ANGIODYNAMICS INC 03475V101 131 10,000 0 0 10,000 03 10,000 0 0 ANNALY CAPITAL MANAGEMENT IN 035710409 1,723 103,600 0 0 103,600 03 103,600 0 0 --------- 64,101

Form 13F Information Table GAM Holding Ltd. Page 4 of 50 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 AOL INC 00184X105 7 606 0 0 606 03 606 0 0 AON CORP 037389103 777 18,500 0 0 18,500 03 18,500 0 0 APACHE CORP 037411105 12,283 153,082 0 0 153,082 03 153,082 0 0 Apache Corporation Common USD0.625 037411105 1,846 23,000 0 0 23,000 02 01 23,000 0 0 APARTMENT INVT & MGMT CO -A 03748R101 686 31,005 0 0 31,005 03 31,005 0 0 APOLLO GROUP INC-CL A 037604105 1,998 50,435 0 0 50,435 03 50,435 0 0 APPLE INC 037833100 74,696 195,960 0 0 195,960 03 195,960 0 0 Apple Incorporated Common NPV 037833100 6,767 17,747 0 0 17,747 01 17,747 0 0 APPLIED MATERIALS INC 038222105 2,184 210,980 0 0 210,980 03 210,980 0 0 APTARGROUP INC 038336103 80 1,800 0 0 1,800 03 1,800 0 0 AQUA AMERICA INC 03836W103 3,154 146,200 0 0 146,200 03 146,200 0 0 Arcelormittal 5% Cv. 15-05-2014 03938LAK0 1,409 1,338,000 0 0 1,338,000 01 1,338,000 0 0 Arcelormittal 5% Cv. 15-05-2014 03938LAK0 26,546 23,897,000 0 0 23,897,000 01 23,897,000 0 0 ARCH COAL INC 039380100 102 7,000 0 0 7,000 03 7,000 0 0 ARCHER-DANIELS-MIDLAND CO 039483102 7,629 307,500 0 0 307,500 03 307,500 0 0 Archer Daniels 0.875% Cv. 15-02-20 039483AW2 1,703 1,707,000 0 0 1,707,000 01 1,707,000 0 0 Archer Daniels 0.875% Cv. 15-02-20 039483AW2 20,921 20,800,000 0 0 20,800,000 01 20,800,000 0 0 Archer Daniels Midland Common NPV 039483102 25 1,000 0 0 1,000 01 1,000 0 0 ARIAD PHARMACEUTICALS INC 04033A100 132 15,000 0 0 15,000 03 15,000 0 0 ARROW ELECTRONICS INC 042735100 58 2,100 0 0 2,100 03 2,100 0 0 ASHFORD HOSPITALITY TRUST 044103109 181 25,770 0 0 25,770 03 25,770 0 0 ASSOCIATED ESTATES REALTY CP 045604105 159 10,300 0 0 10,300 03 10,300 0 0 ASSURANT INC 04621X108 64 1,800 0 0 1,800 03 1,800 0 0 ASTEC INDUSTRIES INC 046224101 228 7,800 0 0 7,800 03 7,800 0 0 AT&T INC 00206R102 42,918 1,504,846 0 0 1,504,846 03 1,504,846 0 0 ATWOOD OCEANICS INC 050095108 1,845 53,700 0 0 53,700 03 53,700 0 0 AUTODESK INC 052769106 156 5,600 0 0 5,600 03 5,600 0 0 --------- 208,554

Form 13F Information Table GAM Holding Ltd. Page 5 of 50 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 AUTOLIV INC 052800109 81 1,667 0 0 1,667 03 1,667 0 0 AUTOMATIC DATA PROCESSING 053015103 3,842 81,490 0 0 81,490 03 81,490 0 0 AutoNation Incorporated Common USD 05329W102 197 6,000 0 0 6,000 01 6,000 0 0 AUTOZONE INC 053332102 3,224 10,100 0 0 10,100 03 10,100 0 0 AutoZone Incorporated Common USD0. 053332102 8,937 28,000 0 0 28,000 01 28,000 0 0 AUXILIUM PHARMACEUTICALS INC 05334D107 582 38,800 0 0 38,800 03 38,800 0 0 AVALONBAY COMMUNITIES INC 053484101 3,157 27,683 0 0 27,683 03 27,683 0 0 AVERY DENNISON CORP 053611109 50 2,000 0 0 2,000 03 2,000 0 0 AVNET INC 053807103 73 2,800 0 0 2,800 03 2,800 0 0 AVON PRODUCTS INC 054303102 525 26,800 0 0 26,800 03 26,800 0 0 Avon Products Inc. Common USD0.25 054303102 10,810 551,550 0 0 551,550 01 551,550 0 0 AZZ INC 002474104 229 5,900 0 0 5,900 03 5,900 0 0 BABCOCK & WILCOX CO/THE 05615F102 235 12,000 0 0 12,000 03 12,000 0 0 BAIDU INC - SPON ADR 056752108 139 1,300 0 0 1,300 03 1,300 0 0 Baidu Inc. Spon. ADR (10 Rep 1 Ord 056752108 211 1,980 0 0 1,980 01 1,980 0 0 BAKER HUGHES INC 057224107 6,168 133,632 0 0 133,632 03 133,632 0 0 BALL CORP 058498106 102 3,300 0 0 3,300 03 3,300 0 0 BANCO BRADESCO-ADR 059460303 3,180 215,000 0 0 215,000 03 215,000 0 0 Banco Bradesco ADR (1 Rep. 1 Pref. 059460303 592 40,000 0 0 40,000 01 40,000 0 0 BANCO SANTANDER-CHILE-ADR 05965X109 294 4,000 0 0 4,000 03 4,000 0 0 BANCO SANTANDER BRASIL-ADS 05967A107 988 135,000 0 0 135,000 03 135,000 0 0 BANK OF AMERICA CORP 060505104 12,807 2,092,605 0 0 2,092,605 03 2,092,605 0 0 Bank of America Corp. Common USD0. 060505104 935 152,965 0 0 152,965 01 152,965 0 0 BANK OF NEW YORK MELLON CORP 064058100 4,653 250,276 0 0 250,276 03 250,276 0 0 Bank of NY Mellon Corp. Com. USD0. 064058100 576 31,000 0 0 31,000 01 31,000 0 0 --------- 62,588

Form 13F Information Table GAM Holding Ltd. Page 6 of 50 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 Barrick Gold Corp. Com. NPV 067901108 372 7,980 0 0 7,980 01 7,980 0 0 BAXTER INTERNATIONAL INC 071813109 11,150 198,610 0 0 198,610 03 198,610 0 0 Baxter International Inc. Common U 071813109 11,839 210,890 0 0 210,890 01 210,890 0 0 BB&T CORP 054937107 1,608 75,400 0 0 75,400 03 75,400 0 0 Becton Dickinson & Co. Common USD1 075887109 513 7,000 0 0 7,000 01 7,000 0 0 BECTON DICKINSON AND CO 075887109 13,630 185,900 0 0 185,900 03 185,900 0 0 BED BATH & BEYOND INC 075896100 3,909 68,200 0 0 68,200 03 68,200 0 0 BEMIS COMPANY 081437105 586 20,000 0 0 20,000 03 20,000 0 0 BERKSHIRE HATHAWAY INC-CL B 084670702 12,598 177,340 0 0 177,340 03 177,340 0 0 BEST BUY CO INC 086516101 4,276 183,500 0 0 183,500 03 183,500 0 0 BHP BILLITON LTD-SPON ADR 088606108 801 12,060 0 0 12,060 03 12,060 0 0 BHP BILLITON PLC-ADR 05545E209 777 14,630 0 0 14,630 03 14,630 0 0 Biglari Holdings Inc. Com. USD0.50 08986R101 148 500 0 0 500 01 500 0 0 BIOGEN IDEC INC 09062X103 1,633 17,530 0 0 17,530 03 17,530 0 0 BIOMARIN PHARMACEUTICAL INC 09061G101 519 16,280 0 0 16,280 03 16,280 0 0 BIOMED REALTY TRUST INC 09063H107 606 36,600 0 0 36,600 03 36,600 0 0 BLACKROCK INC 09247X101 2,331 15,750 0 0 15,750 03 15,750 0 0 BMB MUNAI INC 09656A105 321 314,500 0 0 314,500 03 314,500 0 0 BMC SOFTWARE INC 055921100 1,006 26,080 0 0 26,080 03 26,080 0 0 Boeing Co. Common USD5 097023105 907 15,000 0 0 15,000 01 15,000 0 0 BOEING CO/THE 097023105 6,112 101,000 0 0 101,000 03 101,000 0 0 BORGWARNER INC 099724106 139 2,300 0 0 2,300 03 2,300 0 0 BorgWarner Inc. Com. USD0.01 099724106 5,150 85,074 0 0 85,074 01 85,074 0 0 BOSTON PROPERTIES INC 101121101 5,162 57,940 0 0 57,940 03 57,940 0 0 BOSTON SCIENTIFIC CORP 101137107 3,625 613,440 0 0 613,440 03 613,440 0 0 --------- 89,719

Form 13F Information Table GAM Holding Ltd. Page 7 of 50 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 Boston Scientific Corp. Common USD 101137107 8,540 1,446,248 0 0 1,446,248 01 1,446,248 0 0 Boston Scientific Corp. Common USD 101137107 34,560 5,853,700 0 0 5,853,700 02 5,853,700 0 0 Boyd Gaming Corporation Common USD 103304101 29 6,000 0 0 6,000 01 6,000 0 0 BP PLC-SPONS ADR 055622104 469 13,000 0 0 13,000 03 13,000 0 0 BPZ RESOURCES INC 055639108 138 49,679 0 0 49,679 03 49,679 0 0 BRANDYWINE REALTY TRUST 105368203 300 37,500 0 0 37,500 03 37,500 0 0 BRASKEM SA-SPON ADR 105532105 578 37,000 0 0 37,000 03 37,000 0 0 BRE PROPERTIES INC 05564E106 826 19,500 0 0 19,500 03 19,500 0 0 BRF - BRASIL FOODS SA-ADR 10552T107 2,279 130,000 0 0 130,000 03 130,000 0 0 BRIGHAM EXPLORATION CO 109178103 399 15,800 0 0 15,800 03 15,800 0 0 Brink's Co./The Com. USD1.00 109696104 420 18,000 0 0 18,000 01 18,000 0 0 BRISTOL-MYERS SQUIBB CO 110122108 12,372 394,248 0 0 394,248 03 394,248 0 0 Bristol-Myers Squibb Co. Common US 110122108 251 8,000 0 0 8,000 01 8,000 0 0 BROADCOM CORP-CL A 111320107 586 17,600 0 0 17,600 03 17,600 0 0 Broadsoft Inc. Common NPV 11133B409 2,971 98,000 0 0 98,000 01 98,000 0 0 BROWN-FORMAN CORP-CLASS B 115637209 2,041 29,100 0 0 29,100 03 29,100 0 0 BRUKER CORP 116794108 947 70,000 0 0 70,000 03 70,000 0 0 Brunswick Corp. Common USD0.75 117043109 1,803 128,432 0 0 128,432 01 128,432 0 0 BUNGE LTD G16962105 262 4,500 0 0 4,500 03 4,500 0 0 Bunge Ltd. Common USD0.01 G16962105 2,658 45,610 0 0 45,610 02 01 45,610 0 0 C.H. ROBINSON WORLDWIDE INC 12541W209 1,595 23,300 0 0 23,300 03 23,300 0 0 CA INC 12673P105 1,130 58,200 0 0 58,200 03 58,200 0 0 CABLEVISION SYSTEMS-NY GRP-A 12686C109 71 4,500 0 0 4,500 03 4,500 0 0 Cablevision Systems Corp. Class A 12686C109 739 47,000 0 0 47,000 01 47,000 0 0 CABOT OIL & GAS CORP 127097103 1,083 17,500 0 0 17,500 03 17,500 0 0 --------- 77,048

Form 13F Information Table GAM Holding Ltd. Page 8 of 50 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 Cabot Oil & Gas Corp. Com. USD0.10 127097103 500 8,080 0 0 8,080 01 8,080 0 0 CADENCE DESIGN SYS INC 127387108 128 13,900 0 0 13,900 03 13,900 0 0 Cadence Design Systems Inc. Com. U 127387108 1,734 187,520 0 0 187,520 01 187,520 0 0 CALGON CARBON CORP 129603106 650 44,600 0 0 44,600 03 44,600 0 0 CALPINE CORP 131347304 86 6,100 0 0 6,100 03 6,100 0 0 CAMDEN PROPERTY TRUST 133131102 1,078 19,500 0 0 19,500 03 19,500 0 0 CAMERON INTERNATIONAL CORP 13342B105 943 22,700 0 0 22,700 03 22,700 0 0 CAMPBELL SOUP CO 134429109 3,597 111,130 0 0 111,130 03 111,130 0 0 Campbell Soup Company Common USD0. 134429109 11,863 366,480 0 0 366,480 01 366,480 0 0 Canterbury Park Hdgs. Corp. Com. U 13811E101 53 5,800 0 0 5,800 01 5,800 0 0 CAPITAL ONE FINANCIAL CORP 14040H105 4,493 113,375 0 0 113,375 03 113,375 0 0 CAPSTONE TURBINE CORP 14067D102 728 728,256 0 0 728,256 03 728,256 0 0 CARDINAL HEALTH INC 14149Y108 2,609 62,295 0 0 62,295 03 62,295 0 0 CAREFUSION CORP 14170T101 2,403 100,350 0 0 100,350 03 100,350 0 0 Carefusion Corp. Common USD0.01 14170T101 3,593 150,000 0 0 150,000 01 150,000 0 0 CARMAX INC 143130102 599 25,100 0 0 25,100 03 25,100 0 0 CARNIVAL CORP 143658300 10,339 341,210 0 0 341,210 03 341,210 0 0 Catalyst Health Solutions Inc. Com 14888B103 1,175 20,370 0 0 20,370 01 20,370 0 0 CATERPILLAR INC 149123101 9,189 124,450 0 0 124,450 03 124,450 0 0 CAVIUM INC 14964U108 135 5,000 0 0 5,000 03 5,000 0 0 CBL & ASSOCIATES PROPERTIES 124830100 437 38,434 0 0 38,434 03 38,434 0 0 CBS CORP-CLASS B NON VOTING 124857202 277 13,600 0 0 13,600 03 13,600 0 0 CEDAR SHOPPING CENTERS INC 150602209 41 13,300 0 0 13,300 03 13,300 0 0 CELANESE CORP-SERIES A 150870103 104 3,200 0 0 3,200 03 3,200 0 0 CELGENE CORP 151020104 9,548 154,200 0 0 154,200 03 154,200 0 0 --------- 66,302

Form 13F Information Table GAM Holding Ltd. Page 9 of 50 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 Celgene Corporation Common USD0.01 151020104 688 11,120 0 0 11,120 01 11,120 0 0 CEMIG SA -SPONS ADR 204409601 1,888 127,200 0 0 127,200 03 127,200 0 0 CENTERPOINT ENERGY INC 15189T107 551 28,100 0 0 28,100 03 28,100 0 0 CENTRAIS ELEC BRAS-ADR PREF 15234Q108 234 20,000 0 0 20,000 03 20,000 0 0 CENTRAIS ELETRICAS BR-SP ADR 15234Q207 1,539 175,500 0 0 175,500 03 175,500 0 0 CENTURYLINK INC 156700106 3,098 93,527 0 0 93,527 03 93,527 0 0 CEPHALON INC 156708109 452 5,600 0 0 5,600 03 5,600 0 0 CERNER CORP 156782104 3,481 50,800 0 0 50,800 03 50,800 0 0 CF INDUSTRIES HOLDINGS INC 125269100 226 1,830 0 0 1,830 03 1,830 0 0 CHART INDUSTRIES INC 16115Q308 1,248 29,600 0 0 29,600 03 29,600 0 0 CHESAPEAKE ENERGY CORP 165167107 2,195 85,900 0 0 85,900 03 85,900 0 0 Chesapeake Energy Corp. Com. USD0. 165167107 1,820 71,257 0 0 71,257 01 71,257 0 0 CHEVRON CORP 166764100 50,484 545,650 0 0 545,650 03 545,650 0 0 CHICAGO BRIDGE & IRON-NY SHR 167250109 1,245 43,500 0 0 43,500 03 43,500 0 0 CHINA PETROLEUM & CHEM-ADR 16941R108 479 5,000 0 0 5,000 03 5,000 0 0 CHINA TELECOM CORP LTD-ADR 169426103 387 6,250 0 0 6,250 03 6,250 0 0 CHINA UNICOM HONG KONG-ADR 16945R104 306 15,000 0 0 15,000 03 15,000 0 0 CHIPOTLE MEXICAN GRILL INC 169656105 2,022 6,675 0 0 6,675 03 6,675 0 0 Christopher & Banks Corp. Common U 171046105 265 75,000 0 0 75,000 01 75,000 0 0 CHUBB CORP 171232101 11,266 187,800 0 0 187,800 03 187,800 0 0 Chubb Corporation Common USD1.00 171232101 6,298 105,000 0 0 105,000 01 105,000 0 0 CHUNGHWA TELECOM LTD-ADR 17133Q502 264 8,000 0 0 8,000 03 8,000 0 0 CHURCH & DWIGHT CO INC 171340102 2,183 49,400 0 0 49,400 03 49,400 0 0 Church & Dwight Co. Inc. Common US 171340102 4,420 100,000 0 0 100,000 01 100,000 0 0 CIA BRASILEIRA DE DIS-SP PRF 20440T201 1,093 35,500 0 0 35,500 03 35,500 0 0 --------- 98,132

Form 13F Information Table GAM Holding Ltd. Page 10 of 50 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 CIA CERVECERIAS UNIDAS-ADR 204429104 2,918 56,500 0 0 56,500 03 56,500 0 0 CIA DE MINAS BUENAVENTUR-ADR 204448104 3,623 96,000 0 0 96,000 03 96,000 0 0 CIA SANEAMENTO BASICO DE-ADR 20441A102 5,780 124,700 0 0 124,700 03 124,700 0 0 CIA SIDERURGICA NACL-SP ADR 20440W105 715 90,000 0 0 90,000 03 90,000 0 0 CIGNA CORP 125509109 252 6,000 0 0 6,000 03 6,000 0 0 CIMAREX ENERGY CO 171798101 284 5,100 0 0 5,100 03 5,100 0 0 CINCINNATI FINANCIAL CORP 172062101 103 3,900 0 0 3,900 03 3,900 0 0 CINTAS CORP 172908105 87 3,100 0 0 3,100 03 3,100 0 0 Circor International Inc. Com. USD 17273K109 264 9,000 0 0 9,000 01 9,000 0 0 CISCO SYSTEMS INC 17275R102 21,054 1,359,205 0 0 1,359,205 03 1,359,205 0 0 Cisco Systems Inc. Common USD0.001 17275R102 19,119 1,233,872 0 0 1,233,872 01 1,233,872 0 0 Cisco Systems Inc. Common USD0.001 17275R102 24,785 1,599,669 0 0 1,599,669 02 1,599,669 0 0 CIT GROUP INC 125581801 331 10,900 0 0 10,900 03 10,900 0 0 CITIGROUP INC 172967424 15,129 590,513 0 0 590,513 03 590,513 0 0 Citigroup Incorporated Common USD0 172967424 783 30,553 0 0 30,553 01 30,553 0 0 Citigroup Incorporated Common USD0 172967424 3,939 153,747 0 0 153,747 02 153,747 0 0 CITRIX SYSTEMS INC 177376100 4,558 83,580 0 0 83,580 03 83,580 0 0 CLEAN ENERGY FUELS CORP 184499101 184 16,520 0 0 16,520 03 16,520 0 0 Clearwire Corp. Class A Com. USD0. 18538Q105 90 38,710 0 0 38,710 02 01 38,710 0 0 CLIFFS NATURAL RESOURCES INC 18683K101 2,610 51,000 0 0 51,000 03 51,000 0 0 CLOROX COMPANY 189054109 1,506 22,700 0 0 22,700 03 22,700 0 0 CLOUD PEAK ENERGY INC 18911Q102 610 36,000 0 0 36,000 03 36,000 0 0 CME GROUP INC 12572Q105 1,738 7,053 0 0 7,053 03 7,053 0 0 CMS ENERGY CORP 125896100 396 20,000 0 0 20,000 03 20,000 0 0 Cninsure Inc. ADR (1 Rep. 20 Ord.) 18976M103 350 50,000 0 0 50,000 01 50,000 0 0 --------- 111,207

Form 13F Information Table GAM Holding Ltd. Page 11 of 50 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 COACH INC 189754104 9,806 189,200 0 0 189,200 03 189,200 0 0 Coach Incorporated Common USD0.01 189754104 685 13,220 0 0 13,220 01 13,220 0 0 Cobalt International Energy Com. U 19075F106 554 71,810 0 0 71,810 01 71,810 0 0 COCA-COLA CO/THE 191216100 27,367 405,080 0 0 405,080 03 405,080 0 0 Coca-Cola Company Common USD0.25 191216100 338 5,000 0 0 5,000 01 5,000 0 0 COCA-COLA ENTERPRISES 19122T109 2,356 94,700 0 0 94,700 03 94,700 0 0 CODEXIS INC 192005106 579 126,604 0 0 126,604 03 126,604 0 0 COGNIZANT TECH SOLUTIONS-A 192446102 2,295 36,600 0 0 36,600 03 36,600 0 0 Cohen & Steers Inc. Com. USD0.01 19247A100 287 10,000 0 0 10,000 01 10,000 0 0 COLGATE-PALMOLIVE CO 194162103 4,678 52,750 0 0 52,750 03 52,750 0 0 Colgate-Palmolive Co. Common USD1. 194162103 11,467 129,310 0 0 129,310 01 129,310 0 0 COLONIAL PROPERTIES TRUST 195872106 441 24,260 0 0 24,260 03 24,260 0 0 COMCAST CORP-CLASS A 20030N101 10,145 485,390 0 0 485,390 03 485,390 0 0 COMCAST CORP-SPECIAL CL A 20030N200 523 25,257 0 0 25,257 03 25,257 0 0 COMERICA INC 200340107 2,972 129,400 0 0 129,400 03 129,400 0 0 COMMONWEALTH REIT 203233101 399 21,050 0 0 21,050 03 21,050 0 0 COMMVAULT SYSTEMS INC 204166102 341 9,200 0 0 9,200 03 9,200 0 0 COMPANHIA DE BEBIDAS-PRF ADR 20441W203 4,224 137,800 0 0 137,800 03 137,800 0 0 COMPLETE PRODUCTION SERVICES 20453E109 528 28,000 0 0 28,000 03 28,000 0 0 COMPUTER SCIENCES CORP 205363104 2,721 101,330 0 0 101,330 03 101,330 0 0 CONAGRA FOODS INC 205887102 220 9,100 0 0 9,100 03 9,100 0 0 CONCHO RESOURCES INC 20605P101 920 12,934 0 0 12,934 03 12,934 0 0 Conns Inc Common USD0.01 208242107 7,170 1,000,000 0 0 1,000,000 01 1,000,000 0 0 ConocoPhillips Common USD1.250 20825C104 6,332 100,000 0 0 100,000 01 100,000 0 0 CONOCOPHILLIPS 20825C104 18,891 298,345 0 0 298,345 03 298,345 0 0 --------- 116,238

Form 13F Information Table GAM Holding Ltd. Page 12 of 50 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 1,329 39,180 0 0 39,180 03 39,180 0 0 CONSOLIDATED EDISON INC 209115104 2,058 36,100 0 0 36,100 03 36,100 0 0 Consolidated Tomoka Land Common US 210226106 157 6,000 0 0 6,000 01 6,000 0 0 CONSTELLATION BRANDS INC-A 21036P108 445 24,700 0 0 24,700 03 24,700 0 0 CONSTELLATION ENERGY GROUP 210371100 175 4,600 0 0 4,600 03 4,600 0 0 CONSUMER DISCRETIONARY SELT 81369Y407 2,794 80,000 0 0 80,000 03 80,000 0 0 CONTINENTAL RESOURCES INC/OK 212015101 943 19,500 0 0 19,500 03 19,500 0 0 COOPER COS INC/THE 216648402 340 4,300 0 0 4,300 03 4,300 0 0 COPA HOLDINGS SA-CLASS A P31076105 184 3,000 0 0 3,000 03 3,000 0 0 Copa Holdings SA Class A Com. NPV P31076105 488 7,960 0 0 7,960 01 7,960 0 0 CORNING INC 219350105 10,024 811,000 0 0 811,000 03 811,000 0 0 Corning Incorporated Common USD0.5 219350105 37 3,000 0 0 3,000 01 3,000 0 0 CORPORATE OFFICE PROPERTIES 22002T108 407 18,700 0 0 18,700 03 18,700 0 0 CORRECTIONS CORP OF AMERICA 22025Y407 624 27,500 0 0 27,500 03 27,500 0 0 Corrections Corp. of Amer. Com. US 22025Y407 874 38,540 0 0 38,540 01 38,540 0 0 COSTCO WHOLESALE CORP 22160K105 15,882 193,400 0 0 193,400 03 193,400 0 0 COUSINS PROPERTIES INC 222795106 126 21,590 0 0 21,590 03 21,590 0 0 COVANCE INC 222816100 59 1,300 0 0 1,300 03 1,300 0 0 COVENTRY HEALTH CARE INC 222862104 95 3,300 0 0 3,300 03 3,300 0 0 CPFL ENERGIA SA-ADR 126153105 498 22,500 0 0 22,500 03 22,500 0 0 CR BARD INC 067383109 4,739 54,140 0 0 54,140 03 54,140 0 0 Crane Company Common USD1.00 224399105 321 9,000 0 0 9,000 01 9,000 0 0 CREE INC 225447101 447 17,200 0 0 17,200 03 17,200 0 0 Cree Inc. Common USD0.00125 225447101 5,025 193,400 0 0 193,400 01 193,400 0 0 CROSSTEX ENERGY INC 22765Y104 72 5,330 0 0 5,330 03 5,330 0 0 --------- 48,145

Form 13F Information Table GAM Holding Ltd. Page 13 of 50 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 CROWN CASTLE INTL CORP 228227104 264 6,500 0 0 6,500 03 6,500 0 0 CROWN HOLDINGS INC 228368106 200 6,550 0 0 6,550 03 6,550 0 0 CSX CORP 126408103 3,493 187,100 0 0 187,100 03 187,100 0 0 CTRIP.COM INTERNATIONAL-ADR 22943F100 16 500 0 0 500 03 500 0 0 CTS Corporation Common NPV 126501105 252 31,000 0 0 31,000 01 31,000 0 0 CUBIST PHARMACEUTICALS INC 229678107 283 8,000 0 0 8,000 03 8,000 0 0 CUMMINS INC 231021106 2,344 28,700 0 0 28,700 03 28,700 0 0 Cummins Inc. Common USD2.50 231021106 4,824 59,070 0 0 59,070 01 59,070 0 0 Curtiss-Wright Corporation Common 231561101 86 3,000 0 0 3,000 01 3,000 0 0 CVS CAREMARK CORP 126650100 17,622 524,770 0 0 524,770 03 524,770 0 0 D.R. Horton Inc 2% Cv. 15-05-2014 23331ABB4 1,275 1,250,000 0 0 1,250,000 01 1,250,000 0 0 Dana Holding Corp. Common USD0.01 235825205 809 77,026 0 0 77,026 01 77,026 0 0 Dana Holding Corp. Common USD0.01 235825205 137 13,000 0 0 13,000 01 13,000 0 0 DANAHER CORP 235851102 5,234 124,800 0 0 124,800 03 124,800 0 0 DAQO NEW ENERGY CORP-ADR 23703Q104 356 101,620 0 0 101,620 03 101,620 0 0 DARDEN RESTAURANTS INC 237194105 128 3,000 0 0 3,000 03 3,000 0 0 DAVITA INC 23918K108 1,495 23,850 0 0 23,850 03 23,850 0 0 DCT INDUSTRIAL TRUST INC 233153105 325 74,000 0 0 74,000 03 74,000 0 0 DDR CORP 23317H102 600 55,059 0 0 55,059 03 55,059 0 0 DEAN FOODS CO 242370104 532 60,000 0 0 60,000 03 60,000 0 0 DEERE & CO 244199105 4,010 62,100 0 0 62,100 03 62,100 0 0 Deere & Company Common USD1.00 244199105 775 12,000 0 0 12,000 01 12,000 0 0 DELL INC 24702R101 5,070 358,300 0 0 358,300 03 358,300 0 0 DELTA AIR LINES INC 247361702 560 74,600 0 0 74,600 03 74,600 0 0 DENBURY RESOURCES INC 247916208 1,044 90,787 0 0 90,787 03 90,787 0 0 --------- 51,732

Form 13F Information Table GAM Holding Ltd. Page 14 of 50 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 DENDREON CORP 24823Q107 369 41,000 0 0 41,000 03 41,000 0 0 DENTSPLY INTERNATIONAL INC 249030107 2,053 66,900 0 0 66,900 03 66,900 0 0 DEVON ENERGY CORPORATION 25179M103 11,537 208,105 0 0 208,105 03 208,105 0 0 DEVRY INC 251893103 48 1,300 0 0 1,300 03 1,300 0 0 Diageo PLC Sponsored ADR 25243Q205 569 7,500 0 0 7,500 01 7,500 0 0 DIAMOND OFFSHORE DRILLING 25271C102 3,157 57,673 0 0 57,673 03 57,673 0 0 DIAMONDROCK HOSPITALITY CO 252784301 392 56,143 0 0 56,143 03 56,143 0 0 Diebold Incorporated Common USD1.2 253651103 550 20,000 0 0 20,000 01 20,000 0 0 DIGITAL REALTY TRUST INC 253868103 1,489 27,000 0 0 27,000 03 27,000 0 0 Digitalglobe Inc. Com. USD0.001 25389M877 797 41,000 0 0 41,000 01 41,000 0 0 DIRECTV-CLASS A 25490A101 2,387 56,501 0 0 56,501 03 56,501 0 0 DIRECTV Class A Com. USD0.01 25490A101 550 13,000 0 0 13,000 01 13,000 0 0 DISCOVER FINANCIAL SERVICES 254709108 2,077 90,550 0 0 90,550 03 90,550 0 0 DISCOVERY COMMUNICATIONS-A 25470F104 105 2,800 0 0 2,800 03 2,800 0 0 DISCOVERY COMMUNICATIONS-C 25470F302 105 3,000 0 0 3,000 03 3,000 0 0 DISH NETWORK CORP-A 25470M109 108 4,300 0 0 4,300 03 4,300 0 0 DISH Network Corp. Cls. A Com. USD 25470M109 501 20,000 0 0 20,000 01 20,000 0 0 DOLBY LABORATORIES INC-CL A 25659T107 27 1,000 0 0 1,000 03 1,000 0 0 DOLLAR GENERAL CORP 256677105 110 2,900 0 0 2,900 03 2,900 0 0 DOLLAR TREE INC 256746108 2,787 37,101 0 0 37,101 03 37,101 0 0 DOMINION RESOURCES INC/VA 25746U109 4,849 95,500 0 0 95,500 03 95,500 0 0 DOUGLAS EMMETT INC 25960P109 597 34,900 0 0 34,900 03 34,900 0 0 DOVER CORP 260003108 3,276 70,300 0 0 70,300 03 70,300 0 0 DOW CHEMICAL CO/THE 260543103 6,187 275,460 0 0 275,460 03 275,460 0 0 DR HORTON INC 2.00% Cv. 15-05-2014 23331ABB4 13,764 10,000,000 0 0 10,000,000 01 10,000,000 0 0 DR HORTON INC 23331A109 421 46,600 0 0 46,600 03 46,600 0 0 --------- 58,813

Form 13F Information Table GAM Holding Ltd. Page 15 of 50 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 DR PEPPER SNAPPLE GROUP INC 26138E109 2,571 66,300 0 0 66,300 03 66,300 0 0 Dr Pepper Snapple Grp. Inc. Com. U 26138E109 388 10,000 0 0 10,000 01 10,000 0 0 DRDGOLD LTD-SPONSORED ADR 26152H301 153 30,100 0 0 30,100 03 30,100 0 0 DTE ENERGY COMPANY 233331107 186 3,800 0 0 3,800 03 3,800 0 0 Du Pont (E.I.) De Nemours USD0.30 263534109 6,462 161,679 0 0 161,679 01 161,679 0 0 Du Pont (E.I.) De Nemours USD0.30 263534109 25,703 643,065 0 0 643,065 02 643,065 0 0 DU PONT (E.I.) DE NEMOURS 263534109 5,288 132,300 0 0 132,300 03 132,300 0 0 DUKE ENERGY CORP 26441C105 1,159 58,000 0 0 58,000 03 58,000 0 0 DUKE REALTY CORP 264411505 804 76,601 0 0 76,601 03 76,601 0 0 DUN & BRADSTREET CORP 26483E100 67 1,100 0 0 1,100 03 1,100 0 0 DUPONT FABROS TECHNOLOGY 26613Q106 295 15,000 0 0 15,000 03 15,000 0 0 DYCOM INDUSTRIES INC 267475101 272 17,800 0 0 17,800 03 17,800 0 0 EASTGROUP PROPERTIES INC 277276101 294 7,700 0 0 7,700 03 7,700 0 0 EASTMAN CHEMICAL CO 277432100 192 2,800 0 0 2,800 03 2,800 0 0 Eastman Kodak Company Common USD2. 277461109 88 112,469 0 0 112,469 01 112,469 0 0 Eastman Kodak Company Common USD2. 277461109 355 454,870 0 0 454,870 02 454,870 0 0 EATON CORP 278058102 4,750 133,800 0 0 133,800 03 133,800 0 0 EATON VANCE CORP 278265103 51 2,300 0 0 2,300 03 2,300 0 0 EBAY INC 278642103 7,360 249,580 0 0 249,580 03 249,580 0 0 eBay Incorporated Common USD0.001 278642103 7,357 249,464 0 0 249,464 01 249,464 0 0 eBay Incorporated Common USD0.001 278642103 18,493 627,125 0 0 627,125 02 627,125 0 0 eBay Incorporated Common USD0.001 278642103 295 10,000 0 0 10,000 01 10,000 0 0 ECHELON CORP 27874N105 491 70,000 0 0 70,000 03 70,000 0 0 Echostar Corp. A Com. NPV 278768106 316 14,000 0 0 14,000 01 14,000 0 0 ECOLAB INC 278865100 5,588 114,300 0 0 114,300 03 114,300 0 0 --------- 88,979

Form 13F Information Table GAM Holding Ltd. Page 16 of 50 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 EDISON INTERNATIONAL 281020107 2,173 56,800 0 0 56,800 03 56,800 0 0 EDUCATION REALTY TRUST INC 28140H104 132 15,400 0 0 15,400 03 15,400 0 0 Edward Lifesciences Corporation Co 28176E108 1,534 21,520 0 0 21,520 01 21,520 0 0 EDWARDS LIFESCIENCES CORP 28176E108 164 2,300 0 0 2,300 03 2,300 0 0 EL PASO CORP 28336L109 4,193 239,900 0 0 239,900 03 239,900 0 0 EL Paso Corporation Common USD3.00 28336L109 23,512 1,345,070 0 0 1,345,070 01 1,345,070 0 0 EL Paso Corporation Common USD3.00 28336L109 64,372 3,682,608 0 0 3,682,608 02 3,682,608 0 0 EL Paso Corporation Common USD3.00 28336L109 524 30,000 0 0 30,000 01 30,000 0 0 ELECTRONIC ARTS INC 285512109 2,600 127,160 0 0 127,160 03 127,160 0 0 Electronic Arts Inc. Common USD0.0 285512109 286 14,000 0 0 14,000 01 14,000 0 0 ELI LILLY & CO 532457108 4,075 110,220 0 0 110,220 03 110,220 0 0 Ellie Mae Inc. Com. USD0.0001 28849P100 365 66,000 0 0 66,000 01 66,000 0 0 ELSTER GROUP SE-ADR 290348101 2,171 145,237 0 0 145,237 03 145,237 0 0 EMBRAER SA-ADR 29082A107 1,218 48,000 0 0 48,000 03 48,000 0 0 EMC Corp. 1.75% Cv. 01-12-2013 268648AM4 567 400,000 0 0 400,000 01 400,000 0 0 EMC Corp. 1.75% Cv. 01-12-2013 268648AM4 17,208 6,000,000 0 0 6,000,000 01 6,000,000 0 0 EMC Corp. Massachusetts Common USD 268648102 2,068 98,540 0 0 98,540 01 98,540 0 0 EMC CORP/MASS 268648102 12,196 581,036 0 0 581,036 03 581,036 0 0 EMERSON ELECTRIC CO 291011104 10,015 242,440 0 0 242,440 03 242,440 0 0 EMPRESA NAC ELEC-CHIL-SP ADR 29244T101 2,141 49,400 0 0 49,400 03 49,400 0 0 ENERGEN CORP 29265N108 57 1,400 0 0 1,400 03 1,400 0 0 ENERGIZER HOLDINGS INC 29266R108 1,435 21,600 0 0 21,600 03 21,600 0 0 Energizer Holdings Inc. Common USD 29266R108 565 8,500 0 0 8,500 01 8,500 0 0 ENERGY SELECT SECTOR SPDR 81369Y506 2,344 40,000 0 0 40,000 03 40,000 0 0 ENERNOC INC 292764107 570 63,327 0 0 63,327 03 63,327 0 0 ENERSIS S.A. -SPONS ADR 29274F104 855 50,540 0 0 50,540 03 50,540 0 0 --------- 157,340

Form 13F Information Table GAM Holding Ltd. Page 17 of 50 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 Enova Systems Inc. Ord. NPV 29355M200 259 405,462 0 0 405,462 01 405,462 0 0 Enova Systems Inc. Ord. NPV 29355M200 678 1,060,970 0 0 1,060,970 02 1,060,970 0 0 Ensco PLC Spon. ADR (1 Rep. 1 Ord. 29358Q109 485 11,990 0 0 11,990 01 11,990 0 0 ENTERGY CORP 29364G103 2,894 43,650 0 0 43,650 03 43,650 0 0 ENTERTAINMENT PROPERTIES TR 29380T105 515 13,200 0 0 13,200 03 13,200 0 0 EOG RESOURCES INC 26875P101 1,825 25,700 0 0 25,700 03 25,700 0 0 EQT CORP 26884L109 165 3,100 0 0 3,100 03 3,100 0 0 EQUIFAX INC 294429105 77 2,500 0 0 2,500 03 2,500 0 0 EQUITY LIFESTYLE PROPERTIES 29472R108 627 10,000 0 0 10,000 03 10,000 0 0 EQUITY ONE INC 294752100 249 15,700 0 0 15,700 03 15,700 0 0 EQUITY RESIDENTIAL 29476L107 8,595 165,700 0 0 165,700 03 165,700 0 0 ESSEX PROPERTY TRUST INC 297178105 1,068 8,900 0 0 8,900 03 8,900 0 0 ESTEE LAUDER COMPANIES-CL A 518439104 5,666 64,500 0 0 64,500 03 64,500 0 0 EXCO RESOURCES INC 269279402 139 13,000 0 0 13,000 03 13,000 0 0 EXELON CORP 30161N101 7,769 182,325 0 0 182,325 03 182,325 0 0 Exelon Corporation Common NPV 30161N101 2,890 67,820 0 0 67,820 02 01 67,820 0 0 EXPEDIA INC 30212P105 1,272 49,400 0 0 49,400 03 49,400 0 0 EXPEDITORS INTL WASH INC 302130109 1,557 38,400 0 0 38,400 03 38,400 0 0 Express Incorporated NPV 30219E103 710 35,000 0 0 35,000 01 35,000 0 0 EXPRESS SCRIPTS INC 302182100 3,073 82,900 0 0 82,900 03 82,900 0 0 EXTRA SPACE STORAGE INC 30225T102 475 25,500 0 0 25,500 03 25,500 0 0 EXXON MOBIL CORP 30231G102 73,790 1,015,966 0 0 1,015,966 03 1,015,966 0 0 Exxon Mobil Corp. Com. NPV 30231G102 145 2,000 0 0 2,000 01 2,000 0 0 F5 NETWORKS INC 315616102 1,052 14,800 0 0 14,800 03 14,800 0 0 F5 Networks Inc. Common NPV 315616102 1,504 21,160 0 0 21,160 01 21,160 0 0 --------- 117,477

Form 13F Information Table GAM Holding Ltd. Page 18 of 50 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 FAMILY DOLLAR STORES 307000109 122 2,400 0 0 2,400 03 2,400 0 0 FASTENAL CO 311900104 938 28,200 0 0 28,200 03 28,200 0 0 Federal Mogul Corp. Com. USD0.01 313549404 634 43,000 0 0 43,000 01 43,000 0 0 FEDERAL REALTY INVS TRUST 313747206 1,558 18,900 0 0 18,900 03 18,900 0 0 FEDEX CORP 31428X106 3,384 50,000 0 0 50,000 03 50,000 0 0 FELCOR LODGING TRUST INC 31430F101 72 30,840 0 0 30,840 03 30,840 0 0 Ferro Corporation Common USD1 315405100 62 10,000 0 0 10,000 01 10,000 0 0 FIDELITY NATIONAL FINL-A 31620R105 66 4,367 0 0 4,367 03 4,367 0 0 FIDELITY NATIONAL INFORMATIO 31620M106 122 4,997 0 0 4,997 03 4,997 0 0 FIFTH THIRD BANCORP 316773100 207 20,500 0 0 20,500 03 20,500 0 0 FINANCIAL SELECT SECTOR SPDR 81369Y605 6,483 548,000 0 0 548,000 03 548,000 0 0 FIRST INDUSTRIAL REALTY TR 32054K103 153 19,100 0 0 19,100 03 19,100 0 0 FIRST POTOMAC REALTY TRUST 33610F109 147 11,800 0 0 11,800 03 11,800 0 0 FIRST SOLAR INC 336433107 228 3,600 0 0 3,600 03 3,600 0 0 First Solar Inc. Com. USD0.001 336433107 4,478 70,840 0 0 70,840 01 70,840 0 0 FIRSTENERGY CORP 337932107 1,307 29,101 0 0 29,101 03 29,101 0 0 FirstEnergy Corporation Common USD 337932107 36 800 0 0 800 01 800 0 0 FISERV INC 337738108 1,909 37,600 0 0 37,600 03 37,600 0 0 Fisher Communications Inc. Com. US 337756209 334 15,000 0 0 15,000 01 15,000 0 0 FLIR SYSTEMS INC 302445101 651 26,000 0 0 26,000 03 26,000 0 0 FLOWSERVE CORP 34354P105 5,401 72,990 0 0 72,990 03 72,990 0 0 Flowserve Corporation Common USD1. 34354P105 222 3,000 0 0 3,000 01 3,000 0 0 FLUOR CORP 343412102 1,345 28,900 0 0 28,900 03 28,900 0 0 FMC CORP 302491303 97 1,400 0 0 1,400 03 1,400 0 0 FMC TECHNOLOGIES INC 30249U101 489 13,000 0 0 13,000 03 13,000 0 0 --------- 30,444

Form 13F Information Table GAM Holding Ltd. Page 19 of 50 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 FOCUS MEDIA HOLDING-ADR 34415V109 252 15,000 0 0 15,000 03 15,000 0 0 Fomento Economico Mex ADR SAB (Rep 344419106 194 3,000 0 0 3,000 01 3,000 0 0 FORD MOTOR CO 345370860 4,891 505,750 0 0 505,750 03 505,750 0 0 FOREST CITY ENTERPRISES-CL A 345550107 427 40,100 0 0 40,100 03 40,100 0 0 FOREST LABORATORIES INC 345838106 2,336 75,875 0 0 75,875 03 75,875 0 0 FORTUNE BRANDS INC 349631101 3,726 68,900 0 0 68,900 03 68,900 0 0 Fortune Brands Inc. Common USD3.12 349631101 324 6,000 0 0 6,000 01 6,000 0 0 FOSSIL INC 349882100 89 1,100 0 0 1,100 03 1,100 0 0 FRANKLIN RESOURCES INC 354613101 6,585 68,850 0 0 68,850 03 68,850 0 0 Fred's Incorporated Class A Common 356108100 7,473 700,000 0 0 700,000 01 700,000 0 0 Freeport-McMoran Copper Com. USD0. 35671D857 965 31,700 0 0 31,700 01 31,700 0 0 FREEPORT-MCMORAN COPPER 35671D857 13,823 453,948 0 0 453,948 03 453,948 0 0 FRONTIER COMMUNICATIONS CORP 35906A108 910 148,962 0 0 148,962 03 148,962 0 0 FUEL SYSTEMS SOLUTIONS INC 35952W103 307 16,000 0 0 16,000 03 16,000 0 0 Fusion-Io Inc. Com. USD0.0002 36112J107 2,404 126,500 0 0 126,500 01 126,500 0 0 GAFISA SA-ADR 362607301 433 75,000 0 0 75,000 03 75,000 0 0 GAMESTOP CORP-CLASS A 36467W109 755 32,700 0 0 32,700 03 32,700 0 0 GANNETT CO 364730101 431 45,210 0 0 45,210 03 45,210 0 0 GAP INC/THE 364760108 2,755 169,650 0 0 169,650 03 169,650 0 0 GATX Corporation Common USD0.625 361448103 434 14,000 0 0 14,000 01 14,000 0 0 Gaylord Entmt. Company Class A USD 367905106 309 16,000 0 0 16,000 01 16,000 0 0 Gen-Probe Inc. Com. USD0.0001 36866T103 1,985 34,670 0 0 34,670 01 34,670 0 0 GENERAL DYNAMICS CORP 369550108 6,850 120,400 0 0 120,400 03 120,400 0 0 GENERAL ELECTRIC CO 369604103 31,222 2,048,730 0 0 2,048,730 03 2,048,730 0 0 General Electric Co. Com. USD0.06 369604103 11,766 772,045 0 0 772,045 01 772,045 0 0 --------- 101,646

Form 13F Information Table GAM Holding Ltd. Page 20 of 50 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 General Electric Co. Com. USD0.06 369604103 52,970 3,475,711 0 0 3,475,711 02 3,475,711 0 0 GENERAL GROWTH PROPERTIES 370023103 2,131 176,078 0 0 176,078 03 176,078 0 0 GENERAL MILLS INC 370334104 3,493 90,800 0 0 90,800 03 90,800 0 0 General Mills Incorporated Com. US 370334104 11,868 308,500 0 0 308,500 01 308,500 0 0 GENERAL MOT 10.7.16 CW/GM 37045V118 114 9,806 0 0 9,806 03 9,806 0 0 GENERAL MOT 10.7.19 CW/GM 37045V126 78 9,806 0 0 9,806 03 9,806 0 0 GENERAL MOTORS CO 37045V100 779 38,587 0 0 38,587 03 38,587 0 0 General Motors Co. Com. USD0.01 37045V100 63 3,129 0 0 3,129 01 3,129 0 0 General Motors Cw16 Wts 10-07-2016 37045V118 1 75 0 0 75 01 75 0 0 General Motors Cw19 Wts. 10-07-201 37045V126 1 75 0 0 75 01 75 0 0 GENUINE PARTS CO 372460105 183 3,600 0 0 3,600 03 3,600 0 0 Genuine Parts Company Common USD1. 372460105 2,032 40,000 0 0 40,000 01 40,000 0 0 GENWORTH FINANCIAL INC-CL A 37247D106 51 8,800 0 0 8,800 03 8,800 0 0 Genworth Financial Inc. A Com. USD 37247D106 487 84,803 0 0 84,803 01 84,803 0 0 Geo Group Inc./The Common USD0.01 36159R103 556 29,960 0 0 29,960 01 29,960 0 0 GERDAU SA -SPON ADR 373737105 891 125,000 0 0 125,000 03 125,000 0 0 GETTY REALTY CORP 374297109 96 6,630 0 0 6,630 03 6,630 0 0 GEVO INC 374396109 239 42,900 0 0 42,900 03 42,900 0 0 GILEAD SCIENCES INC 375558103 15,629 402,820 0 0 402,820 03 402,820 0 0 GLIMCHER REALTY TRUST 379302102 240 33,850 0 0 33,850 03 33,850 0 0 GM 4 3/4 12/01/13 37045V209 470 13,392 0 0 13,392 03 13,392 0 0 GOLD FIELDS LTD-SPONS ADR 38059T106 12,420 810,700 0 0 810,700 03 810,700 0 0 Golden Minerals Co. Com. USD0.01 381119106 54 7,232 0 0 7,232 01 7,232 0 0 GOLDMAN SACHS GROUP INC 38141G104 9,015 95,350 0 0 95,350 03 95,350 0 0 GOODRICH CORP 382388106 326 2,700 0 0 2,700 03 2,700 0 0 --------- 114,185

Form 13F Information Table GAM Holding Ltd. Page 21 of 50 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 Goodrich Corp. Common USD5.00 382388106 121 1,000 0 0 1,000 01 1,000 0 0 GOODYEAR TIRE & RUBBER CO 382550101 270 26,800 0 0 26,800 03 26,800 0 0 GOOGLE INC-CL A 38259P508 36,680 71,310 0 0 71,310 03 71,310 0 0 Google Incorporated Com. Cl A USD0 38259P508 8,305 16,125 0 0 16,125 01 16,125 0 0 GOVERNMENT PROPERTIES INCOME 38376A103 169 7,870 0 0 7,870 03 7,870 0 0 GRAN TIERRA ENERGY INC 38500T101 473 99,200 0 0 99,200 03 99,200 0 0 GREATER CHINA FUND 39167B102 2,283 233,884 0 0 233,884 03 233,884 0 0 GREEN MOUNTAIN COFFEE ROASTE 393122106 1,114 11,986 0 0 11,986 03 11,986 0 0 Green Mountain Coffee Rst. Com. US 393122106 2,304 24,790 0 0 24,790 01 24,790 0 0 Griffon Corporation Common USD0.25 398433102 548 67,000 0 0 67,000 01 67,000 0 0 Grupo Televisa SA-Sp ADR (1 Rep 5 40049J206 735 40,000 0 0 40,000 01 40,000 0 0 Grupo Televisa SA-Sp ADR (1 Rep 5 40049J206 552 30,000 0 0 30,000 01 30,000 0 0 GT ADVANCED TECHNOLOGIES INC 36191U106 70 10,000 0 0 10,000 03 10,000 0 0 GUESS? INC 401617105 1,259 44,200 0 0 44,200 03 44,200 0 0 H&R BLOCK INC 093671105 81 6,100 0 0 6,100 03 6,100 0 0 HALLIBURTON CO 406216101 7,342 240,550 0 0 240,550 03 240,550 0 0 Hanesbrands Inc. Common USD0.01 410345102 2,060 82,361 0 0 82,361 01 82,361 0 0 HANSEN NATURAL CORP 411310105 1,920 22,000 0 0 22,000 03 22,000 0 0 HARLEY-DAVIDSON INC 412822108 1,723 50,200 0 0 50,200 03 50,200 0 0 HARMONY GOLD MNG-SPON ADR 413216300 5,558 473,850 0 0 473,850 03 473,850 0 0 HARRIS CORP 413875105 3,082 90,200 0 0 90,200 03 90,200 0 0 HARTFORD FINANCIAL SVCS GRP 416515104 895 55,440 0 0 55,440 03 55,440 0 0 HASBRO INC 418056107 85 2,600 0 0 2,600 03 2,600 0 0 HCA HOLDINGS INC 40412C101 83 4,100 0 0 4,100 03 4,100 0 0 HCP INC 40414L109 4,217 120,270 0 0 120,270 03 120,270 0 0 --------- 81,929

Form 13F Information Table GAM Holding Ltd. Page 22 of 50 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 HDFC BANK LTD-ADR 40415F101 321 11,000 0 0 11,000 03 11,000 0 0 HEALTH CARE REIT INC 42217K106 3,791 81,000 0 0 81,000 03 81,000 0 0 HEALTH CARE SELECT SECTOR 81369Y209 317 10,000 0 0 10,000 03 10,000 0 0 HEALTH MGMT ASSOCIATES INC-A 421933102 42 6,000 0 0 6,000 03 6,000 0 0 HEALTHCARE REALTY TRUST INC 421946104 320 19,000 0 0 19,000 03 19,000 0 0 HELMERICH & PAYNE 423452101 1,502 37,000 0 0 37,000 03 37,000 0 0 HENRY SCHEIN INC 806407102 155 2,500 0 0 2,500 03 2,500 0 0 HERSHEY CO/THE 427866108 201 3,400 0 0 3,400 03 3,400 0 0 HERTZ GLOBAL HOLDINGS INC 42805T105 45 5,100 0 0 5,100 03 5,100 0 0 HESS CORP 42809H107 4,296 81,900 0 0 81,900 03 81,900 0 0 Hess Corporation Common USD1.00 42809H107 262 5,000 0 0 5,000 01 5,000 0 0 HEWLETT-PACKARD CO 428236103 7,479 333,130 0 0 333,130 03 333,130 0 0 Hewlett Packard Co. Common USD0.01 428236103 6,113 272,236 0 0 272,236 01 272,236 0 0 Hewlett Packard Co. Common USD0.01 428236103 27,747 1,235,719 0 0 1,235,719 02 1,235,719 0 0 HI-TECH PHARMACAL CO INC 42840B101 504 15,000 0 0 15,000 03 15,000 0 0 HIGHWOODS PROPERTIES INC 431284108 574 20,300 0 0 20,300 03 20,300 0 0 HJ HEINZ CO 423074103 915 18,120 0 0 18,120 03 18,120 0 0 HJ Heinz Co. Common USD0.25 423074103 11,589 229,600 0 0 229,600 01 229,600 0 0 HOLLYFRONTIER CORP 436106108 115 4,400 0 0 4,400 03 4,400 0 0 HOLOGIC INC 436440101 98 6,412 0 0 6,412 03 6,412 0 0 Hologic Inc. Common USD0.01 436440101 1,524 100,180 0 0 100,180 01 100,180 0 0 HOME DEPOT INC 437076102 10,229 311,205 0 0 311,205 03 311,205 0 0 Home Depot Incorporated Common USD 437076102 12,115 368,570 0 0 368,570 01 368,570 0 0 HOME INNS & HOTELS MANAG-ADR 43713W107 423 16,400 0 0 16,400 03 16,400 0 0 HOME PROPERTIES INC 437306103 715 12,600 0 0 12,600 03 12,600 0 0 --------- 91,392

Form 13F Information Table GAM Holding Ltd. Page 23 of 50 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 HONEYWELL INTERNATIONAL INC 438516106 3,561 81,100 0 0 81,100 03 81,100 0 0 Honeywell Intl Inc Com USD1 438516106 351 8,000 0 0 8,000 01 8,000 0 0 HORMEL FOODS CORP 440452100 1,440 53,300 0 0 53,300 03 53,300 0 0 HOSPIRA INC 441060100 133 3,600 0 0 3,600 03 3,600 0 0 HOSPITALITY PROPERTIES TRUST 44106M102 743 35,010 0 0 35,010 03 35,010 0 0 HOST HOTELS & RESORTS INC 44107P104 2,233 204,134 0 0 204,134 03 204,134 0 0 HUDSON CITY BANCORP INC 443683107 453 80,100 0 0 80,100 03 80,100 0 0 HUMAN GENOME SCIENCES INC 444903108 46 3,600 0 0 3,600 03 3,600 0 0 Human Genome Sciences Inc. Com. US 444903108 2,044 161,100 0 0 161,100 02 01 161,100 0 0 HUMANA INC 444859102 5,047 69,400 0 0 69,400 03 69,400 0 0 HUNT (JB) TRANSPRT SVCS INC 445658107 83 2,300 0 0 2,300 03 2,300 0 0 Hunt (JB) Transprt Svcs.Inc.Com. U 445658107 633 17,530 0 0 17,530 01 17,530 0 0 Huntsman Corporation Common USD0.0 447011107 7,014 725,000 0 0 725,000 01 725,000 0 0 ICICI BANK LTD-SPON ADR 45104G104 815 23,100 0 0 23,100 03 23,100 0 0 ICU Medical Incorporated Common US 44930G107 5,518 150,000 0 0 150,000 01 150,000 0 0 IDEXX LABORATORIES INC 45168D104 345 5,000 0 0 5,000 03 5,000 0 0 IHS INC-CLASS A 451734107 60 800 0 0 800 03 800 0 0 ILLINOIS TOOL WORKS 452308109 4,834 116,200 0 0 116,200 03 116,200 0 0 ILLUMINA INC 452327109 471 11,500 0 0 11,500 03 11,500 0 0 INCYTE CORP 45337C102 182 13,000 0 0 13,000 03 13,000 0 0 INDUSTRIAL SELECT SECT SPDR 81369Y704 876 30,000 0 0 30,000 03 30,000 0 0 Infinity Property & Casualty Commo 45665Q103 6,567 125,000 0 0 125,000 01 125,000 0 0 INFOSYS LTD-SP ADR 456788108 3,338 65,300 0 0 65,300 03 65,300 0 0 INLAND REAL ESTATE CORP 457461200 123 16,900 0 0 16,900 03 16,900 0 0 INSITUFORM TECHNOLOGIES-CL A 457667103 528 45,600 0 0 45,600 03 45,600 0 0 --------- 47,439

Form 13F Information Table GAM Holding Ltd. Page 24 of 50 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 INSULET CORP 45784P101 1,042 68,300 0 0 68,300 03 68,300 0 0 INTEGRATED DEVICE TECH INC 458118106 258 50,000 0 0 50,000 03 50,000 0 0 INTEGRYS ENERGY GROUP INC 45822P105 68 1,400 0 0 1,400 03 1,400 0 0 Intel Corp 2.95% Cv. 15-12-2035 458140AD2 170 166,000 0 0 166,000 01 166,000 0 0 Intel Corp 2.95% Cv. 15-12-2035 458140AD2 1,610 1,500,000 0 0 1,500,000 01 1,500,000 0 0 INTEL CORP 458140100 31,212 1,463,306 0 0 1,463,306 03 1,463,306 0 0 Intel Corp. Com. USD0.001 458140100 4,965 232,720 0 0 232,720 02 01 232,720 0 0 INTERCONTINENTALEXCHANGE INC 45865V100 2,229 18,850 0 0 18,850 03 18,850 0 0 Intermec Incorporated Common USD0. 458786100 124 19,000 0 0 19,000 01 19,000 0 0 INTERMUNE INC 45884X103 162 8,000 0 0 8,000 03 8,000 0 0 Internap Network Services Common U 45885A300 94 19,000 0 0 19,000 01 19,000 0 0 INTERNATIONAL PAPER CO 460146103 1,839 79,100 0 0 79,100 03 79,100 0 0 INTERPUBLIC GROUP OF COS INC 460690100 63 8,700 0 0 8,700 03 8,700 0 0 INTL BUSINESS MACHINES CORP 459200101 55,400 316,518 0 0 316,518 03 316,518 0 0 INTL FLAVORS & FRAGRANCES 459506101 107 1,900 0 0 1,900 03 1,900 0 0 INTL GAME TECHNOLOGY 459902102 373 25,700 0 0 25,700 03 25,700 0 0 Intl. Business Machines Corp. Com 459200101 13,976 79,850 0 0 79,850 01 79,850 0 0 INTUIT INC 461202103 1,257 26,500 0 0 26,500 03 26,500 0 0 INTUITIVE SURGICAL INC 46120E602 4,564 12,529 0 0 12,529 03 12,529 0 0 Intuitive Surgical Inc. Com. USD0. 46120E602 452 1,240 0 0 1,240 01 1,240 0 0 INVESTORS REAL ESTATE TRUST 461730103 249 34,600 0 0 34,600 03 34,600 0 0 IPATH MSCI INDIA INDEX ETN 06739F291 3,850 69,300 0 0 69,300 03 69,300 0 0 IRON MOUNTAIN INC 462846106 601 19,000 0 0 19,000 03 19,000 0 0 IShares Barclays TIPS Bond 464287176 731 6,398 0 0 6,398 01 6,398 0 0 ISHARES DJ US REAL ESTATE 464287739 2,529 50,000 0 0 50,000 03 50,000 0 0 ISHARES FTSE CHINA 25 INDEX 464287184 2,707 87,790 0 0 87,790 03 87,790 0 0 --------- 130,631

Form 13F Information Table GAM Holding Ltd. Page 25 of 50 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 IBOXX H/Y CORP BOND 464288513 414 5,000 0 0 5,000 03 5,000 0 0 Ishares Iboxx Inv Gr. Corp. Bd. 464287242 1,542 13,759 0 0 13,759 01 13,759 0 0 ISHARES MSCI ACWI INDEX FUND 464288257 626 16,000 0 0 16,000 03 16,000 0 0 ISHARES MSCI ASIA EX-JAPAN 464288182 1,953 40,000 0 0 40,000 03 40,000 0 0 ISHARES MSCI AUSTRALIA INDEX 464286103 1,539 76,725 0 0 76,725 03 76,725 0 0 ISHARES MSCI BRAZIL 464286400 64,764 1,244,503 0 0 1,244,503 03 1,244,503 0 0 iShares MSCI Emerging Markets Inde 464287234 702 20,007 0 0 20,007 01 20,007 0 0 ISHARES MSCI EMERGING MKT IN 464287234 7,523 214,500 0 0 214,500 03 214,500 0 0 ISHARES MSCI HONG KONG INDEX 464286871 1,296 90,365 0 0 90,365 03 90,365 0 0 ISHARES MSCI INDONESIA INVES 46429B309 284 11,000 0 0 11,000 03 11,000 0 0 iShares MSCI Japan Index Fund USD 464286848 24,205 2,556,000 0 0 2,556,000 02 2,556,000 0 0 ISHARES MSCI MALAYSIA 464286830 31 2,500 0 0 2,500 03 2,500 0 0 ISHARES MSCI MEXICO INVESTAB 464286822 4,743 96,872 0 0 96,872 03 96,872 0 0 ISHARES MSCI PACIFIC EX JPN 464286665 10,561 287,210 0 0 287,210 03 287,210 0 0 ISHARES MSCI SINGAPORE 464286673 55 5,000 0 0 5,000 03 5,000 0 0 ISHARES MSCI SOUTH AFRICA IN 464286780 23 400 0 0 400 03 400 0 0 ISHARES MSCI SOUTH KOREA IND 464286772 5,339 113,390 0 0 113,390 03 113,390 0 0 iShares MSCI South Korea Index Fun 464286772 471 10,000 0 0 10,000 01 10,000 0 0 ISHARES MSCI TAIWAN INDEX FD 464286731 6,714 568,510 0 0 568,510 03 568,510 0 0 ISHARES NASDAQ BIOTECH INDX 464287556 1,494 16,000 0 0 16,000 03 16,000 0 0 ISHARES S&P 500 GROWTH INDEX 464287309 7,961 130,000 0 0 130,000 03 130,000 0 0 IShares S&P 500 Index Fund 464287200 2,643 23,250 0 0 23,250 01 23,250 0 0 IShares S&P 500 Index Fund 464287200 513 4,512 0 0 4,512 01 4,512 0 0 IShares S&P 500 Index Fund 464287200 936 8,235 0 0 8,235 01 8,235 0 0 ISHARES S&P CONSUMER DISCRET 464288745 193 4,000 0 0 4,000 03 4,000 0 0 --------- 146,523

Form 13F Information Table GAM Holding Ltd. Page 26 of 50 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 S&P CONSUMER STAPLES 464288737 201 3,200 0 0 3,200 03 3,200 0 0 ISHARES S&P GLBL ENERGY SECT 464287341 91 2,700 0 0 2,700 03 2,700 0 0 ISHARES S&P GLBL FINL SECTOR 464287333 176 4,900 0 0 4,900 03 4,900 0 0 ISHARES S&P GLBL TECH SECTOR 464287291 39 700 0 0 700 03 700 0 0 ISHARES S&P LATIN AMERICA 40 464287390 19 500 0 0 500 03 500 0 0 ISHARES S&P NA NAT RES S I F 464287374 15 450 0 0 450 03 450 0 0 ITAU UNIBANCO HLDNG-PREF ADR 465562106 7,015 451,984 0 0 451,984 03 451,984 0 0 Itau Unibanco Holding Pref. ADR (1 465562106 465 30,000 0 0 30,000 01 30,000 0 0 ITRON INC 465741106 985 33,400 0 0 33,400 03 33,400 0 0 Itron Incorporated Common NPV 465741106 4,921 166,800 0 0 166,800 01 166,800 0 0 ITT CORP 450911102 1,428 34,000 0 0 34,000 03 34,000 0 0 ITT Corp. Common USD1.00 450911102 504 12,000 0 0 12,000 01 12,000 0 0 J.C. PENNEY CO INC 708160106 919 34,300 0 0 34,300 03 34,300 0 0 J.P. Morgan Chase & Co. Com. USD1. 46625H100 603 20,030 0 0 20,030 01 20,030 0 0 J.P. Morgan Chase & Co. Com. USD1. 46625H100 361 12,000 0 0 12,000 01 12,000 0 0 JABIL CIRCUIT INC 466313103 534 30,000 0 0 30,000 03 30,000 0 0 Jabil Circuit Inc. Com. USD0.001 466313103 1,603 90,089 0 0 90,089 01 90,089 0 0 JACOBS ENGINEERING GROUP INC 469814107 1,669 51,695 0 0 51,695 03 51,695 0 0 James River Coal Comapny Com. USD0 470355207 142 22,240 0 0 22,240 01 22,240 0 0 JDS UNIPHASE CORP 46612J507 897 90,000 0 0 90,000 03 90,000 0 0 JDS Uniphase Corp. Common USD0.001 46612J507 787 78,886 0 0 78,886 01 78,886 0 0 JEFFERIES GROUP INC 472319102 37 3,000 0 0 3,000 03 3,000 0 0 Jinkosolar Holding Company ADR(1 R 47759T100 1,524 313,500 0 0 313,500 01 313,500 0 0 JM SMUCKER CO/THE 832696405 168 2,302 0 0 2,302 03 2,302 0 0 Johnson & Johnson Common USD1.00 478160104 11,595 182,020 0 0 182,020 01 182,020 0 0 --------- 36,699

Form 13F Information Table GAM Holding Ltd. Page 27 of 50 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 JOHNSON & JOHNSON 478160104 44,736 702,175 0 0 702,175 03 702,175 0 0 JOHNSON CONTROLS INC 478366107 8,043 305,000 0 0 305,000 03 305,000 0 0 Johnson Controls Inc. Common USD0. 478366107 5,740 217,670 0 0 217,670 01 217,670 0 0 JONES LANG LASALLE INC 48020Q107 1,930 37,250 0 0 37,250 03 37,250 0 0 JOY GLOBAL INC 481165108 455 7,300 0 0 7,300 03 7,300 0 0 JPMORGAN CHASE & CO 46625H100 31,956 1,060,940 0 0 1,060,940 03 1,060,940 0 0 JUNIPER NETWORKS INC 48203R104 2,047 118,600 0 0 118,600 03 118,600 0 0 Juniper Networks Inc. Common USD0. 48203R104 759 43,980 0 0 43,980 01 43,980 0 0 Kaman Corporation Common USD1.00 483548103 195 7,000 0 0 7,000 01 7,000 0 0 Kansas City Southern Com. USD0.01 485170302 3,247 65,000 0 0 65,000 01 65,000 0 0 KB HOME 48666K109 176 30,000 0 0 30,000 03 30,000 0 0 KBR INC 48242W106 1,066 45,100 0 0 45,100 03 45,100 0 0 KELLOGG CO 487836108 819 15,400 0 0 15,400 03 15,400 0 0 Kellogg Company Common USD0.25 487836108 11,292 212,320 0 0 212,320 01 212,320 0 0 KEYCORP 493267108 106 17,800 0 0 17,800 03 17,800 0 0 KILROY REALTY CORP 49427F108 490 15,660 0 0 15,660 03 15,660 0 0 KIMBERLY-CLARK CORP 494368103 2,946 41,490 0 0 41,490 03 41,490 0 0 Kimberly-Clark Corporation Com. US 494368103 11,935 168,070 0 0 168,070 01 168,070 0 0 KIMCO REALTY CORP 49446R109 1,813 120,600 0 0 120,600 03 120,600 0 0 KIOR INC - CL A 497217109 747 36,000 0 0 36,000 03 36,000 0 0 Kit Digital Inc. Com. USD0.0001 482470200 661 78,700 0 0 78,700 01 78,700 0 0 KITE REALTY GROUP TRUST 49803T102 91 24,800 0 0 24,800 03 24,800 0 0 KLA-TENCOR CORPORATION 482480100 896 23,400 0 0 23,400 03 23,400 0 0 KOHLS CORP 500255104 6,285 128,000 0 0 128,000 03 128,000 0 0 --------- 138,430

Form 13F Information Table GAM Holding Ltd. Page 28 of 50 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 KOREA ELEC POWER CORP-SP ADR 500631106 3,978 467,975 0 0 467,975 03 467,975 0 0 KRAFT FOODS INC-CLASS A 50075N104 19,777 588,959 0 0 588,959 03 588,959 0 0 Kraft Foods Inc. A Common NPV 50075N104 1,043 31,060 0 0 31,060 01 31,060 0 0 KROGER CO 501044101 1,586 72,200 0 0 72,200 03 72,200 0 0 KT CORP-SP ADR 48268K101 5,197 350,770 0 0 350,770 03 350,770 0 0 L-3 COMMUNICATIONS HOLDINGS 502424104 4,487 72,400 0 0 72,400 03 72,400 0 0 LABORATORY CRP OF AMER HLDGS 50540R409 1,982 25,070 0 0 25,070 03 25,070 0 0 LAM RESEARCH CORP 512807108 1,242 32,700 0 0 32,700 03 32,700 0 0 LAN AIRLINES SA-SPON ADR 501723100 268 13,000 0 0 13,000 03 13,000 0 0 LAS VEGAS SANDS CORP 517834107 663 17,300 0 0 17,300 03 17,300 0 0 Las Vegas Sands Corp. Com. USD0.00 517834107 767 20,000 0 0 20,000 01 20,000 0 0 LASALLE HOTEL PROPERTIES 517942108 501 26,100 0 0 26,100 03 26,100 0 0 LEGG MASON INC 524901105 332 12,900 0 0 12,900 03 12,900 0 0 LEGGETT & PLATT INC 524660107 756 38,200 0 0 38,200 03 38,200 0 0 LENNAR CORP-A 526057104 1,025 75,700 0 0 75,700 03 75,700 0 0 Lennar Corporation Class A Com. US 526057104 2,152 158,800 0 0 158,800 02 01 158,800 0 0 LEUCADIA NATIONAL CORP 527288104 93 4,100 0 0 4,100 03 4,100 0 0 LEXINGTON REALTY TRUST 529043101 295 45,121 0 0 45,121 03 45,121 0 0 LIBERTY GLOBAL INC-A 530555101 105 2,900 0 0 2,900 03 2,900 0 0 LIBERTY GLOBAL INC-SERIES C 530555309 69 2,000 0 0 2,000 03 2,000 0 0 Liberty Global Inc. Class A Com. U 530555101 579 16,000 0 0 16,000 01 16,000 0 0 LIBERTY INTERACTIVE CORP-A 53071M104 188 12,700 0 0 12,700 03 12,700 0 0 LIBERTY PROPERTY TRUST 531172104 1,016 34,900 0 0 34,900 03 34,900 0 0 LIFE TECHNOLOGIES CORP 53217V109 386 10,039 0 0 10,039 03 10,039 0 0 LIMITED BRANDS INC 532716107 3,293 85,500 0 0 85,500 03 85,500 0 0 --------- 51,778

Form 13F Information Table GAM Holding Ltd. Page 29 of 50 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 LINCOLN NATIONAL CORP 534187109 119 7,600 0 0 7,600 03 7,600 0 0 LINDSAY CORP 535555106 430 8,000 0 0 8,000 03 8,000 0 0 LINEAR TECHNOLOGY CORP 535678106 2,422 87,600 0 0 87,600 03 87,600 0 0 LKQ CORP 501889208 3,745 155,000 0 0 155,000 03 155,000 0 0 LOCKHEED MARTIN CORP 539830109 7,961 109,600 0 0 109,600 03 109,600 0 0 Lockheed Martin Corporation Com. U 539830109 12,012 165,370 0 0 165,370 01 165,370 0 0 LOEWS CORP 540424108 249 7,199 0 0 7,199 03 7,199 0 0 LORILLARD INC 544147101 2,444 22,080 0 0 22,080 03 22,080 0 0 Louisiana-Pacific Corp. Common USD 546347105 453 88,794 0 0 88,794 01 88,794 0 0 LOWE'S COS INC 548661107 2,804 145,000 0 0 145,000 03 145,000 0 0 LSB INDUSTRIES INC 502160104 1,434 50,000 0 0 50,000 03 50,000 0 0 LSI CORP 502161102 372 71,800 0 0 71,800 03 71,800 0 0 LTC PROPERTIES INC 502175102 238 9,400 0 0 9,400 03 9,400 0 0 LULULEMON ATHLETICA INC 550021109 97 2,000 0 0 2,000 03 2,000 0 0 M & T BANK CORP 55261F104 161 2,300 0 0 2,300 03 2,300 0 0 MACERICH CO/THE 554382101 1,676 39,305 0 0 39,305 03 39,305 0 0 MACK-CALI REALTY CORP 554489104 617 23,060 0 0 23,060 03 23,060 0 0 MACY'S INC 55616P104 771 29,300 0 0 29,300 03 29,300 0 0 Madison Square Garden Co. A NPV 55826P100 319 14,000 0 0 14,000 01 14,000 0 0 MANPOWER INC 56418H100 57 1,700 0 0 1,700 03 1,700 0 0 MARATHON OIL CORP 565849106 4,258 197,290 0 0 197,290 03 197,290 0 0 MARATHON PETROLEUM CORP 56585A102 6,082 224,750 0 0 224,750 03 224,750 0 0 MARKET VECTORS BRAZIL SM-CAP 57060U613 1,764 45,000 0 0 45,000 03 45,000 0 0 MARKET VECTORS INDONESIA IND 57060U753 7,423 293,400 0 0 293,400 03 293,400 0 0 MARRIOTT INTERNATIONAL-CL A 571903202 1,264 46,398 0 0 46,398 03 46,398 0 0 --------- 59,172

Form 13F Information Table GAM Holding Ltd. Page 30 of 50 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 MARSH & MCLENNAN COS 571748102 2,174 81,900 0 0 81,900 03 81,900 0 0 MARTIN MARIETTA MATERIALS 573284106 57 900 0 0 900 03 900 0 0 MASCO CORP 574599106 348 48,900 0 0 48,900 03 48,900 0 0 MASTEC INC 576323109 704 40,000 0 0 40,000 03 40,000 0 0 MASTERCARD INC-CLASS A 57636Q104 3,920 12,360 0 0 12,360 03 12,360 0 0 Materion Corp. Common NPV 576690101 136 6,000 0 0 6,000 01 6,000 0 0 MATTEL INC 577081102 5,178 200,000 0 0 200,000 03 200,000 0 0 MAXIM INTEGRATED PRODUCTS 57772K101 159 6,800 0 0 6,800 03 6,800 0 0 MAXWELL TECHNOLOGIES INC 577767106 814 44,200 0 0 44,200 03 44,200 0 0 MCCORMICK & CO-NON VTG SHRS 579780206 120 2,600 0 0 2,600 03 2,600 0 0 MCDONALD'S CORP 580135101 29,622 337,300 0 0 337,300 03 337,300 0 0 MCGRAW-HILL COMPANIES INC 580645109 258 6,300 0 0 6,300 03 6,300 0 0 McGraw-Hill Companies Inc. Common 580645109 11,687 285,060 0 0 285,060 01 285,060 0 0 MCKESSON CORP 58155Q103 1,854 25,500 0 0 25,500 03 25,500 0 0 McKesson Incorporated Common USD0. 58155Q103 4,801 66,040 0 0 66,040 02 01 66,040 0 0 MDU RESOURCES GROUP INC 552690109 61 3,200 0 0 3,200 03 3,200 0 0 MEAD JOHNSON NUTRITION CO 582839106 561 8,150 0 0 8,150 03 8,150 0 0 Mead Johnson Nutrition Co. Com. US 582839106 482 7,000 0 0 7,000 01 7,000 0 0 MEADWESTVACO CORP 583334107 101 4,100 0 0 4,100 03 4,100 0 0 MECHEL-SPONSORED ADR 583840103 372 36,500 0 0 36,500 03 36,500 0 0 MEDCO HEALTH SOLUTIONS INC 58405U102 3,639 77,600 0 0 77,600 03 77,600 0 0 Media General Inc. Cls. A Common U 584404107 25 13,000 0 0 13,000 01 13,000 0 0 MEDICAL PROPERTIES TRUST INC 58463J304 274 30,590 0 0 30,590 03 30,590 0 0 MEDICIS PHARMACEUTICAL-CL A 584690309 365 10,000 0 0 10,000 03 10,000 0 0 MEDTRONIC INC 585055106 7,508 225,880 0 0 225,880 03 225,880 0 0 --------- 75,219

Form 13F Information Table GAM Holding Ltd. Page 31 of 50 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 Medtronic Incorporated Common USD0 585055106 11,387 342,570 0 0 342,570 01 342,570 0 0 MERCK & CO. INC. 58933Y105 28,413 868,631 0 0 868,631 03 868,631 0 0 Meritor Inc. Common USD1.00 59001K100 407 57,574 0 0 57,574 01 57,574 0 0 Methanex Corporation Common NPV 59151K108 411 19,709 0 0 19,709 01 19,709 0 0 METLIFE INC 59156R108 4,189 149,570 0 0 149,570 03 149,570 0 0 METROPCS COMMUNICATIONS INC 591708102 212 24,300 0 0 24,300 03 24,300 0 0 MGM RESORTS INTERNATIONAL 552953101 64 6,900 0 0 6,900 03 6,900 0 0 MICROCHIP TECHNOLOGY INC 595017104 140 4,500 0 0 4,500 03 4,500 0 0 MICROMET INC 59509C105 182 38,000 0 0 38,000 03 38,000 0 0 MICRON TECHNOLOGY INC 595112103 776 153,900 0 0 153,900 03 153,900 0 0 Micron Technology Inc. Common USD0 595112103 959 190,378 0 0 190,378 01 190,378 0 0 MICROS SYSTEMS INC 594901100 1,317 30,000 0 0 30,000 03 30,000 0 0 MICROSOFT CORP 594918104 56,072 2,252,785 0 0 2,252,785 03 2,252,785 0 0 Microsoft Corporation Com. USD0.00 594918104 2,420 97,200 0 0 97,200 01 97,200 0 0 MID-AMERICA APARTMENT COMM 59522J103 596 9,900 0 0 9,900 03 9,900 0 0 Midas Inc. Com. USD0.001 595626102 8 1,000 0 0 1,000 01 1,000 0 0 MINDRAY MEDICAL INTL LTD-ADR 602675100 1,181 50,000 0 0 50,000 03 50,000 0 0 MOBILE TELESYSTEMS-SP ADR 607409109 3,687 299,740 0 0 299,740 03 299,740 0 0 Modine Manufacturing Co. Common US 607828100 979 108,184 0 0 108,184 01 108,184 0 0 MOHAWK INDUSTRIES INC 608190104 43 1,000 0 0 1,000 03 1,000 0 0 MOLEX INC 608554101 1,010 49,575 0 0 49,575 03 49,575 0 0 MOLSON COORS BREWING CO -B 60871R209 143 3,600 0 0 3,600 03 3,600 0 0 Molycorp Inc. Common NPV 608753109 407 12,400 0 0 12,400 01 12,400 0 0 Molycorp Inc. Common NPV 608753109 33 1,000 0 0 1,000 01 1,000 0 0 MOMENTA PHARMACEUTICALS INC 60877T100 115 10,000 0 0 10,000 03 10,000 0 0 --------- 115,150

Form 13F Information Table GAM Holding Ltd. Page 32 of 50 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 MoneyGram International USD0.01 60935Y109 98 42,000 0 0 42,000 01 42,000 0 0 MONSANTO CO 61166W101 5,938 98,900 0 0 98,900 03 98,900 0 0 Monsanto Company Common USD0.01 61166W101 307 5,116 0 0 5,116 01 5,116 0 0 MOODY'S CORP 615369105 143 4,700 0 0 4,700 03 4,700 0 0 Morgan Stanley Common USD0.01 617446448 203 15,000 0 0 15,000 01 15,000 0 0 MORGAN STANLEY INDIA INVEST 61745C105 336 20,000 0 0 20,000 03 20,000 0 0 MORGAN STANLEY 617446448 2,093 155,000 0 0 155,000 03 155,000 0 0 Mosaic Co. (The) Common NPV 61945C103 1,064 21,730 0 0 21,730 01 21,730 0 0 MOSAIC CO/THE 61945C103 4,422 90,301 0 0 90,301 03 90,301 0 0 Motorola Mobility Holdings I Commo 620097105 5,667 150,000 0 0 150,000 01 150,000 0 0 MOTOROLA MOBILITY HOLDINGS I 620097105 235 6,212 0 0 6,212 03 6,212 0 0 MOTOROLA SOLUTIONS INC-W/I 620076307 1,182 28,214 0 0 28,214 03 28,214 0 0 Mueller Industries Inc. Com. USD0. 624756102 58 1,500 0 0 1,500 01 1,500 0 0 MURPHY OIL CORP 626717102 336 7,598 0 0 7,598 03 7,598 0 0 MYLAN INC 628530107 170 10,000 0 0 10,000 03 10,000 0 0 NASDAQ OMX GROUP/THE 631103108 2,603 112,500 0 0 112,500 03 112,500 0 0 National Fuel Gas Co. Com. USD1.00 636180101 1,631 33,500 0 0 33,500 01 33,500 0 0 NATIONAL OILWELL VARCO INC 637071101 6,492 126,744 0 0 126,744 03 126,744 0 0 NATIONAL RETAIL PROPERTIES 637417106 648 24,100 0 0 24,100 03 24,100 0 0 NATL HEALTH INVESTORS INC 63633D104 320 7,600 0 0 7,600 03 7,600 0 0 NAVISTAR INTERNATIONAL CORP 63934E108 112 3,500 0 0 3,500 03 3,500 0 0 Navistar Intl. Corporation Com. US 63934E108 649 20,190 0 0 20,190 01 20,190 0 0 Navistar Intl. Corporation Com. US 63934E108 514 16,000 0 0 16,000 01 16,000 0 0 NETAPP INC 64110D104 441 13,000 0 0 13,000 03 13,000 0 0 Netapp Inc. Common USD0.001 64110D104 397 11,700 0 0 11,700 01 11,700 0 0 --------- 36,057

Form 13F Information Table GAM Holding Ltd. Page 33 of 50 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 NETEASE.COM INC-ADR 64110W102 798 20,906 0 0 20,906 03 20,906 0 0 NETFLIX INC 64110L106 373 3,300 0 0 3,300 03 3,300 0 0 NetFlix Inc. Common USD0.001 64110L106 458 4,040 0 0 4,040 01 4,040 0 0 NETGEAR INC 64111Q104 337 13,000 0 0 13,000 03 13,000 0 0 Netlogic Microsystems Inc. USD0.01 64118B100 481 10,000 0 0 10,000 01 10,000 0 0 NEW YORK COMMUNITY BANCORP 649445103 99 8,300 0 0 8,300 03 8,300 0 0 NEW YORK TIMES CO-A 650111107 380 65,430 0 0 65,430 03 65,430 0 0 NEWELL RUBBERMAID INC 651229106 68 5,700 0 0 5,700 03 5,700 0 0 NEWFIELD EXPLORATION CO 651290108 119 3,000 0 0 3,000 03 3,000 0 0 NEWMONT MINING CORP 651639106 45,265 719,642 0 0 719,642 03 719,642 0 0 Newmont Mining Corporation Com. US 651639106 2,139 34,000 0 0 34,000 01 34,000 0 0 NEWS CORP-B 65248E203 156 10,000 0 0 10,000 03 10,000 0 0 NEWS CORP-CL A 65248E104 2,908 188,000 0 0 188,000 03 188,000 0 0 News Corp-Class B Com. USD0.01 65248E203 4,435 284,219 0 0 284,219 02 01 284,219 0 0 News Corporation Inc. Cls A Com. U 65248E104 310 20,001 0 0 20,001 01 20,001 0 0 NEXTERA ENERGY INC 65339F101 9,414 174,260 0 0 174,260 03 174,260 0 0 NII HOLDINGS INC 62913F201 105 3,900 0 0 3,900 03 3,900 0 0 NII Holdings Inc. Common USD.001 62913F201 485 18,000 0 0 18,000 01 18,000 0 0 NIKE INC -CL B 654106103 14,507 169,650 0 0 169,650 03 169,650 0 0 NISOURCE INC 65473P105 498 23,300 0 0 23,300 03 23,300 0 0 Nobility Homes Inc. Common USD0.10 654892108 12 1,800 0 0 1,800 01 1,800 0 0 NOBLE ENERGY INC 655044105 262 3,700 0 0 3,700 03 3,700 0 0 NORDSTROM INC 655664100 7,204 157,700 0 0 157,700 03 157,700 0 0 NORFOLK SOUTHERN CORP 655844108 7,811 128,000 0 0 128,000 03 128,000 0 0 NORTEL NETWORKS CORP 656568508 0 190 0 0 190 03 190 0 0 --------- 98,623

Form 13F Information Table GAM Holding Ltd. Page 34 of 50 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 148 4,400 0 0 4,400 03 4,400 0 0 NORTHERN TRUST CORP 665859104 2,378 67,980 0 0 67,980 03 67,980 0 0 Northern Trust Corp. Com. USD1.667 665859104 770 22,000 0 0 22,000 01 22,000 0 0 NORTHROP GRUMMAN CORP 666807102 318 6,100 0 0 6,100 03 6,100 0 0 Nova Measuring Instruments Common M7516K103 1,634 304,910 0 0 304,910 01 304,910 0 0 NOVELLUS SYSTEMS INC 670008101 545 20,000 0 0 20,000 03 20,000 0 0 NRG ENERGY INC 629377508 123 5,800 0 0 5,800 03 5,800 0 0 NSTAR 67019E107 99 2,200 0 0 2,200 03 2,200 0 0 NTPC LTD NTPCIN 5 5/8 07/14/21(XS0 80004CAD3 504 480,000 0 0 480,000 01 480,000 0 0 NUANCE COMMUNICATIONS INC 67020Y100 112 5,500 0 0 5,500 03 5,500 0 0 NUCOR CORP 670346105 1,490 47,100 0 0 47,100 03 47,100 0 0 NVIDIA CORP 67066G104 1,514 121,150 0 0 121,150 03 121,150 0 0 NVIDIA Corporation Common USD0.001 67066G104 507 40,490 0 0 40,490 01 40,490 0 0 NYSE EURONEXT 629491101 1,053 45,300 0 0 45,300 03 45,300 0 0 O'REILLY AUTOMOTIVE INC 67103H107 600 9,000 0 0 9,000 03 9,000 0 0 O'Reilly Automotive Inc. Com. USD0 67103H107 333 5,000 0 0 5,000 01 5,000 0 0 OCCIDENTAL PETROLEUM CORP 674599105 18,533 259,200 0 0 259,200 03 259,200 0 0 OIL STATES INTERNATIONAL INC 678026105 1,102 21,650 0 0 21,650 03 21,650 0 0 OLD REPUBLIC INTL CORP 680223104 47 5,300 0 0 5,300 03 5,300 0 0 OMEGA HEALTHCARE INVESTORS 681936100 472 29,600 0 0 29,600 03 29,600 0 0 OMNICARE INC 681904108 64 2,500 0 0 2,500 03 2,500 0 0 OMNICOM GROUP 681919106 2,811 76,300 0 0 76,300 03 76,300 0 0 On Semiconductor Corp. Com. USD0.0 682189105 1,031 143,750 0 0 143,750 01 143,750 0 0 ONEOK INC 682680103 165 2,500 0 0 2,500 03 2,500 0 0 ONYX PHARMACEUTICALS INC 683399109 240 8,000 0 0 8,000 03 8,000 0 0 --------- 36,593

Form 13F Information Table GAM Holding Ltd. Page 35 of 50 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 Opentable Inc. Common NPV 68372A104 649 14,100 0 0 14,100 01 14,100 0 0 OPTIMER PHARMACEUTICALS INC 68401H104 97 7,000 0 0 7,000 03 7,000 0 0 ORACLE CORP 68389X105 40,028 1,392,760 0 0 1,392,760 03 1,392,760 0 0 Oracle Corporation Common USD0.01 68389X105 1,649 57,350 0 0 57,350 01 57,350 0 0 ORMAT TECHNOLOGIES INC 686688102 579 36,000 0 0 36,000 03 36,000 0 0 OWENS-ILLINOIS INC 690768403 216 14,300 0 0 14,300 03 14,300 0 0 Owens Corning Com. USD0.001 690742101 4,499 207,500 0 0 207,500 01 207,500 0 0 P G & E CORP 69331C108 9,837 232,500 0 0 232,500 03 232,500 0 0 PACCAR INC 693718108 1,617 47,825 0 0 47,825 03 47,825 0 0 PALL CORP 696429307 114 2,700 0 0 2,700 03 2,700 0 0 PARKER HANNIFIN CORP 701094104 4,532 71,790 0 0 71,790 03 71,790 0 0 PARKWAY PROPERTIES INC 70159Q104 59 5,400 0 0 5,400 03 5,400 0 0 PATTERSON COS INC 703395103 6,167 215,400 0 0 215,400 03 215,400 0 0 PAYCHEX INC 704326107 190 7,200 0 0 7,200 03 7,200 0 0 Paychex Inc. Common USD0.01 704326107 12,071 457,680 0 0 457,680 01 457,680 0 0 PEABODY ENERGY CORP 704549104 6,311 186,263 0 0 186,263 03 186,263 0 0 Peets Coffee & Tea Inc. Common NPV 705560100 389 7,000 0 0 7,000 01 7,000 0 0 PENN REAL ESTATE INVEST TST 709102107 118 15,300 0 0 15,300 03 15,300 0 0 Penske Auto Group Inc. Common USD0 70959W103 6,400 400,000 0 0 400,000 01 400,000 0 0 PENTAIR INC 709631105 3,572 111,600 0 0 111,600 03 111,600 0 0 PEOPLE'S UNITED FINANCIAL 712704105 89 7,800 0 0 7,800 03 7,800 0 0 Pep Boys-Manny Moe & Jack Com. USD 713278109 74 7,500 0 0 7,500 01 7,500 0 0 PEPCO HOLDINGS INC 713291102 96 5,100 0 0 5,100 03 5,100 0 0 PEPSICO INC 713448108 30,068 485,748 0 0 485,748 03 485,748 0 0 PepsiCo Incorporated Com. USD0.017 713448108 11,636 187,980 0 0 187,980 01 187,980 0 0 --------- 141,058

Form 13F Information Table GAM Holding Ltd. Page 36 of 50 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 PepsiCo Incorporated Com. USD0.017 713448108 4,100 66,240 0 0 66,240 02 01 66,240 0 0 PERFECT WORLD CO-SPON ADR 71372U104 379 34,000 0 0 34,000 03 34,000 0 0 PERKINELMER INC 714046109 768 40,000 0 0 40,000 03 40,000 0 0 PERRIGO CO 714290103 757 7,800 0 0 7,800 03 7,800 0 0 PETROCHINA CO LTD -ADR 71646E100 313 2,600 0 0 2,600 03 2,600 0 0 PETROLEO BRASILEIRO-SPON ADR 71654V101 6,729 324,745 0 0 324,745 03 324,745 0 0 Petroleo Brasileiro ADR (1 Rep. 2 71654V101 1,037 50,000 0 0 50,000 01 50,000 0 0 PETROLEO BRASILEIRO S.A.-ADR 71654V408 6,984 311,100 0 0 311,100 03 311,100 0 0 PETROLEUM DEVELOPMENT CORP 716578109 620 32,000 0 0 32,000 03 32,000 0 0 PETSMART INC 716768106 3,305 77,500 0 0 77,500 03 77,500 0 0 PFIZER INC 717081103 33,282 1,882,475 0 0 1,882,475 03 1,882,475 0 0 Pfizer Incorporated Common USD0.05 717081103 26,366 1,490,857 0 0 1,490,857 01 1,490,857 0 0 Pfizer Incorporated Common USD0.05 717081103 3,981 225,080 0 0 225,080 02 01 225,080 0 0 Pfizer Incorporated Common USD0.05 717081103 88,320 4,994,328 0 0 4,994,328 02 4,994,328 0 0 Pharmaceutical Product Dev. Com. U 717124101 914 35,630 0 0 35,630 01 35,630 0 0 PHARMACEUTICAL PRODUCT DEVEL 717124101 118 4,600 0 0 4,600 03 4,600 0 0 PHARMASSET INC 71715N106 1,071 13,000 0 0 13,000 03 13,000 0 0 PHILIP MORRIS INTERNATIONAL 718172109 28,768 461,170 0 0 461,170 03 461,170 0 0 PIEDMONT OFFICE REALTY TRU-A 720190206 741 45,800 0 0 45,800 03 45,800 0 0 PINNACLE WEST CAPITAL 723484101 99 2,300 0 0 2,300 03 2,300 0 0 PIONEER NATURAL RESOURCES CO 723787107 1,131 17,200 0 0 17,200 03 17,200 0 0 Pioneer Natural Resources Com. USD 723787107 908 13,802 0 0 13,802 01 13,802 0 0 PIPER JAFFRAY COS 724078100 1 43 0 0 43 03 43 0 0 PITNEY BOWES INC 724479100 73 3,900 0 0 3,900 03 3,900 0 0 PLAINS EXPLORATION & PRODUCT 726505100 73 3,200 0 0 3,200 03 3,200 0 0 --------- 210,838

Form 13F Information Table GAM Holding Ltd. Page 37 of 50 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 PLUM CREEK TIMBER CO 729251108 3,953 113,900 0 0 113,900 03 113,900 0 0 PMC - SIERRA INC 69344F106 299 50,000 0 0 50,000 03 50,000 0 0 PNC FINANCIAL SERVICES GROUP 693475105 3,118 64,706 0 0 64,706 03 64,706 0 0 PNC Financial Services Grp. Com. U 693475105 675 14,000 0 0 14,000 01 14,000 0 0 POLYCOM INC 73172K104 2,441 132,865 0 0 132,865 03 132,865 0 0 Polycom Inc. Common USD0.0005 73172K104 1,213 66,000 0 0 66,000 01 66,000 0 0 POST PROPERTIES INC 737464107 479 13,800 0 0 13,800 03 13,800 0 0 Power-One Inc.Com USD0.001 73930R102 5,169 1,150,000 0 0 1,150,000 01 1,150,000 0 0 POWER INTEGRATIONS INC 739276103 1,139 37,200 0 0 37,200 03 37,200 0 0 POWERSHARES DB COMMODITY IND 73935S105 1,288 50,000 0 0 50,000 03 50,000 0 0 Powershares DB US Dollar Index Bul 73936D107 1,622 72,658 0 0 72,658 01 72,658 0 0 POWERSHARES QQQ NASDAQ 100 73935A104 2,889 55,000 0 0 55,000 03 55,000 0 0 PPG INDUSTRIES INC 693506107 233 3,300 0 0 3,300 03 3,300 0 0 PPL CORPORATION 69351T106 3,576 125,315 0 0 125,315 03 125,315 0 0 PRAXAIR INC 74005P104 3,925 41,990 0 0 41,990 03 41,990 0 0 PRECISION CASTPARTS CORP 740189105 1,039 6,683 0 0 6,683 03 6,683 0 0 PRICELINE.COM INC 741503403 1,843 4,100 0 0 4,100 03 4,100 0 0 PRINCIPAL FINANCIAL GROUP 74251V102 168 7,400 0 0 7,400 03 7,400 0 0 PROCTER & GAMBLE CO/THE 742718109 38,154 603,887 0 0 603,887 03 603,887 0 0 Procter & Gamble Company Common US 742718109 11,885 188,110 0 0 188,110 01 188,110 0 0 PROGRESS ENERGY INC 743263105 331 6,400 0 0 6,400 03 6,400 0 0 PROGRESSIVE CORP 743315103 1,302 73,300 0 0 73,300 03 73,300 0 0 PROLOGIS INC 74340W103 4,241 174,881 0 0 174,881 03 174,881 0 0 PRUDENTIAL FINANCIAL INC 744320102 10,492 223,900 0 0 223,900 03 223,900 0 0 PS BUSINESS PARKS INC/CA 69360J107 250 5,040 0 0 5,040 03 5,040 0 0 --------- 101,722

Form 13F Information Table GAM Holding Ltd. Page 38 of 50 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 PUBLIC SERVICE ENTERPRISE GP 744573106 1,365 40,900 0 0 40,900 03 40,900 0 0 PUBLIC STORAGE 74460D109 4,610 41,400 0 0 41,400 03 41,400 0 0 Pulte Group Inc. Common USD0.01 745867101 483 122,030 0 0 122,030 01 122,030 0 0 PULTEGROUP INC 745867101 1,012 256,100 0 0 256,100 03 256,100 0 0 QEP RESOURCES INC 74733V100 108 4,000 0 0 4,000 03 4,000 0 0 QUALCOMM INC 747525103 28,677 589,700 0 0 589,700 03 589,700 0 0 Qualcomm Inc. Com. USD0.0001 747525103 808 16,600 0 0 16,600 01 16,600 0 0 QUALITY SYSTEMS INC 747582104 3,184 32,821 0 0 32,821 03 32,821 0 0 QUANTA SERVICES INC 74762E102 4,784 254,600 0 0 254,600 03 254,600 0 0 Quanta Services Inc. Common USD0.0 74762E102 3,758 200,000 0 0 200,000 01 200,000 0 0 QUEST DIAGNOSTICS INC 74834L100 1,688 34,200 0 0 34,200 03 34,200 0 0 QUESTCOR PHARMACEUTICALS 74835Y101 273 10,000 0 0 10,000 03 10,000 0 0 QUIMICA Y MINERA CHIL-SP ADR 833635105 887 18,550 0 0 18,550 03 18,550 0 0 R.R. Donnelley & Sons Co. Comm. US 257867101 2,824 200,000 0 0 200,000 01 200,000 0 0 Radian Group Inc. Common USD0.001 750236101 253 115,347 0 0 115,347 01 115,347 0 0 RALCORP HOLDINGS INC 751028101 84 1,100 0 0 1,100 03 1,100 0 0 Ralcorp Holdings Inc. Common USD0. 751028101 192 2,500 0 0 2,500 01 2,500 0 0 RALPH LAUREN CORP 751212101 6,524 50,300 0 0 50,300 03 50,300 0 0 RAMCO-GERSHENSON PROPERTIES 751452202 100 12,180 0 0 12,180 03 12,180 0 0 RANDGOLD RESOURCES LTD-ADR 752344309 5,489 56,750 0 0 56,750 03 56,750 0 0 RANGE RESOURCES CORP 75281A109 1,947 33,300 0 0 33,300 03 33,300 0 0 RAYONIER INC 754907103 88 2,400 0 0 2,400 03 2,400 0 0 RAYTHEON COMPANY 755111507 1,545 37,800 0 0 37,800 03 37,800 0 0 REALTY INCOME CORP 756109104 1,132 35,100 0 0 35,100 03 35,100 0 0 RED HAT INC 756577102 1,458 34,500 0 0 34,500 03 34,500 0 0 --------- 73,270

Form 13F Information Table GAM Holding Ltd. Page 39 of 50 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 REGAL-BELOIT CORP 758750103 817 18,000 0 0 18,000 03 18,000 0 0 REGENCY CENTERS CORP 758849103 904 25,600 0 0 25,600 03 25,600 0 0 REGENERON PHARMACEUTICALS 75886F107 519 8,910 0 0 8,910 03 8,910 0 0 REGIONS FINANCIAL CORP 7591EP100 473 141,953 0 0 141,953 03 141,953 0 0 REGIS CORP 758932107 606 43,040 0 0 43,040 03 43,040 0 0 REPUBLIC SERVICES INC 760759100 750 26,735 0 0 26,735 03 26,735 0 0 Republic Services Inc. Common USD0 760759100 421 15,000 0 0 15,000 01 15,000 0 0 RESOLUTE ENERGY CORP 76116A108 107 9,400 0 0 9,400 03 9,400 0 0 Retalix Limited ILS1.00 M8215W109 390 29,021 0 0 29,021 01 29,021 0 0 REYNOLDS AMERICAN INC 761713106 2,339 62,400 0 0 62,400 03 62,400 0 0 RIO TINTO PLC-SPON ADR 767204100 375 8,510 0 0 8,510 03 8,510 0 0 Riverbed Technology Inc. Com. USD0 768573107 413 20,700 0 0 20,700 01 20,700 0 0 ROBERT HALF INTL INC 770323103 1,560 73,500 0 0 73,500 03 73,500 0 0 ROCK-TENN COMPANY -CL A 772739207 63 1,300 0 0 1,300 03 1,300 0 0 ROCKWELL AUTOMATION INC 773903109 627 11,200 0 0 11,200 03 11,200 0 0 Rockwell Automation Inc. Common US 773903109 22 400 0 0 400 01 400 0 0 ROCKWELL COLLINS INC 774341101 169 3,200 0 0 3,200 03 3,200 0 0 ROPER INDUSTRIES INC 776696106 1,874 27,200 0 0 27,200 03 27,200 0 0 Rosetta Resources Inc. Common USD0 777779307 392 11,460 0 0 11,460 01 11,460 0 0 ROSS STORES INC 778296103 8,837 112,300 0 0 112,300 03 112,300 0 0 Ross Stores Incorporated Common US 778296103 850 10,800 0 0 10,800 01 10,800 0 0 Rovi Corp. Com. USD0.001 779376102 5 107 0 0 107 01 107 0 0 ROWAN COMPANIES INC 779382100 1,633 54,100 0 0 54,100 03 54,100 0 0 Royal Bk. of Scot. Grp. 6.4% Pfd. 780097796 158 14,800 0 0 14,800 01 14,800 0 0 Royal Bk. of Scotland 7.25% Pfd. P 780097713 121 10,000 0 0 10,000 01 10,000 0 0 --------- 24,426

Form 13F Information Table GAM Holding Ltd. Page 40 of 50 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 RR DONNELLEY & SONS CO 257867101 73 5,200 0 0 5,200 03 5,200 0 0 RUBICON TECHNOLOGY INC 78112T107 328 30,000 0 0 30,000 03 30,000 0 0 Rubicon Technology Inc. Com. USD0. 78112T107 2,779 254,200 0 0 254,200 01 254,200 0 0 RYDER SYSTEM INC 783549108 375 10,000 0 0 10,000 03 10,000 0 0 RYDEX S&P EQUAL WEIGHT ETF 78355W106 2,401 58,000 0 0 58,000 03 58,000 0 0 SAFEWAY INC 786514208 1,951 117,345 0 0 117,345 03 117,345 0 0 SAIC INC 78390X101 83 7,000 0 0 7,000 03 7,000 0 0 SALESFORCE.COM INC 79466L302 2,160 18,900 0 0 18,900 03 18,900 0 0 SALLY BEAUTY HOLDINGS INC 79546E104 332 20,000 0 0 20,000 03 20,000 0 0 SANDISK CORP 80004C101 3,365 83,400 0 0 83,400 03 83,400 0 0 SanDisk Corporation Common USD0.00 80004C101 605 15,000 0 0 15,000 01 15,000 0 0 SANDISK Corp 1.500% Cv. 15-08-2017 80004CAD3 4,825 4,070,000 0 0 4,070,000 01 4,070,000 0 0 SANDRIDGE ENERGY INC 80007P307 145 26,000 0 0 26,000 03 26,000 0 0 Sanofi CVR NPV 31-12-2020 80105N113 37 35,000 0 0 35,000 01 35,000 0 0 Sapient Corporation Common USD0.01 803062108 591 58,320 0 0 58,320 01 58,320 0 0 SARA LEE CORP 803111103 2,332 142,600 0 0 142,600 03 142,600 0 0 Sara Lee Corporation Common USD0.0 803111103 14,245 871,225 0 0 871,225 01 871,225 0 0 Sara Lee Corporation Common USD0.0 803111103 56,169 3,435,798 0 0 3,435,798 02 3,435,798 0 0 Sara Lee Corporation Common USD0.0 803111103 1,194 73,000 0 0 73,000 01 73,000 0 0 SAUL CENTERS INC 804395101 132 3,900 0 0 3,900 03 3,900 0 0 SBA COMMUNICATIONS CORP-CL A 78388J106 97 2,800 0 0 2,800 03 2,800 0 0 SCANA CORP 80589M102 101 2,500 0 0 2,500 03 2,500 0 0 SCHLUMBERGER LTD 806857108 15,277 255,763 0 0 255,763 03 255,763 0 0 SCHWAB (CHARLES) CORP 808513105 1,263 112,100 0 0 112,100 03 112,100 0 0 Scripps Networks Inter-Cl A Com. U 811065101 74 2,000 0 0 2,000 01 2,000 0 0 SCRIPPS NETWORKS INTER-CL A 811065101 71 1,900 0 0 1,900 03 1,900 0 0 --------- 111,003

Form 13F Information Table GAM Holding Ltd. Page 41 of 50 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 Seagate Technology Common USD0.000 G7945M107 719 70,000 0 0 70,000 01 70,000 0 0 SEALED AIR CORP 81211K100 55 3,300 0 0 3,300 03 3,300 0 0 SEARS HOLDINGS CORP 812350106 52 900 0 0 900 03 900 0 0 SEATTLE GENETICS INC 812578102 114 6,000 0 0 6,000 03 6,000 0 0 SEI INVESTMENTS COMPANY 784117103 58 3,800 0 0 3,800 03 3,800 0 0 SEMPRA ENERGY 816851109 2,132 41,400 0 0 41,400 03 41,400 0 0 SENIOR HOUSING PROP TRUST 81721M109 968 44,920 0 0 44,920 03 44,920 0 0 Sensient Technologies Corp. Com. U 81725T100 326 10,000 0 0 10,000 01 10,000 0 0 Sequans Communications ADR (1 Rep. 817323108 952 189,628 0 0 189,628 01 189,628 0 0 SEQUENOM INC 817337405 153 30,000 0 0 30,000 03 30,000 0 0 SHANDA GAMES LTD-SPONS ADR 81941U105 250 63,000 0 0 63,000 03 63,000 0 0 SHERWIN-WILLIAMS CO/THE 824348106 520 7,000 0 0 7,000 03 7,000 0 0 SHIRE PLC-ADR 82481R106 564 6,000 0 0 6,000 03 6,000 0 0 SIGMA-ALDRICH 826552101 173 2,800 0 0 2,800 03 2,800 0 0 SILGAN HOLDINGS INC 827048109 102 2,780 0 0 2,780 03 2,780 0 0 SIMON PROPERTY GROUP INC 828806109 13,405 121,888 0 0 121,888 03 121,888 0 0 SIRIUS XM RADIO INC 82967N108 116 76,771 0 0 76,771 03 76,771 0 0 SK TELECOM CO LTD-ADR 78440P108 2,831 200,357 0 0 200,357 03 200,357 0 0 Skyworks Solutions Inc. Common USD 83088M102 1,497 83,380 0 0 83,380 01 83,380 0 0 SL GREEN REALTY CORP 78440X101 1,308 22,500 0 0 22,500 03 22,500 0 0 SLM CORP 78442P106 463 37,200 0 0 37,200 03 37,200 0 0 SLM Corp. Common USD0.20 78442P106 125 10,000 0 0 10,000 01 10,000 0 0 SOHU.COM INC 83408W103 565 11,730 0 0 11,730 03 11,730 0 0 SONOCO PRODUCTS CO 835495102 565 20,000 0 0 20,000 03 20,000 0 0 SOUTHERN CO 842587107 2,394 56,500 0 0 56,500 03 56,500 0 0 --------- 30,406

Form 13F Information Table GAM Holding Ltd. Page 42 of 50 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 SOUTHERN COPPER CORP 84265V105 2,354 94,200 0 0 94,200 03 94,200 0 0 Southern Union Co. Com. USD1.00 844030106 284 7,000 0 0 7,000 01 7,000 0 0 SOUTHWEST AIRLINES CO 844741108 907 112,800 0 0 112,800 03 112,800 0 0 SOUTHWESTERN ENERGY CO 845467109 3,870 116,100 0 0 116,100 03 116,100 0 0 SOVRAN SELF STORAGE INC 84610H108 353 9,500 0 0 9,500 03 9,500 0 0 SPDR DJIA TRUST 78467X109 3,834 35,200 0 0 35,200 03 35,200 0 0 SPDR GOLD TRUST 78463V107 790 5,000 0 0 5,000 03 5,000 0 0 SPDR S&P 500 ETF TRUST 78462F103 952 8,400 0 0 8,400 03 8,400 0 0 SPDR S&P EMERGING ASIA PACIF 78463X301 508 7,890 0 0 7,890 03 7,890 0 0 SPECTRA ENERGY CORP 847560109 364 14,850 0 0 14,850 03 14,850 0 0 SPRINT NEXTEL CORP 852061100 845 277,800 0 0 277,800 03 277,800 0 0 Sprint Nextel Corp. Common USD2.00 852061100 373 122,640 0 0 122,640 01 122,640 0 0 Sprint Nextel Corp. Common USD2.00 852061100 1,600 525,781 0 0 525,781 02 525,781 0 0 Sprint Nextel Corp. Common USD2.00 852061100 234 77,000 0 0 77,000 01 77,000 0 0 SPX CORP 784635104 834 18,400 0 0 18,400 03 18,400 0 0 ST JUDE MEDICAL INC 790849103 2,054 56,744 0 0 56,744 03 56,744 0 0 St. Joe Corporation Common NPV 790148100 1,460 97,380 0 0 97,380 02 01 97,380 0 0 STAMPS.COM INC 852857200 420 20,557 0 0 20,557 03 20,557 0 0 STANLEY BLACK & DECKER INC 854502101 176 3,575 0 0 3,575 03 3,575 0 0 STAPLES INC 855030102 6,164 463,470 0 0 463,470 03 463,470 0 0 Staples Inc. Common USD0.0006 855030102 11,495 863,980 0 0 863,980 01 863,980 0 0 STARBUCKS CORP 855244109 10,449 280,200 0 0 280,200 03 280,200 0 0 STARWOOD HOTELS & RESORTS 85590A401 815 21,000 0 0 21,000 03 21,000 0 0 STATE STREET CORP 857477103 1,639 50,962 0 0 50,962 03 50,962 0 0 State Street Corp. Common USD1.00 857477103 322 10,000 0 0 10,000 01 10,000 0 0 --------- 53,095

Form 13F Information Table GAM Holding Ltd. Page 43 of 50 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 STERICYCLE INC 858912108 129 1,600 0 0 1,600 03 1,600 0 0 STERLITE INDUSTRIES INDI-ADR 859737207 202 20,700 0 0 20,700 03 20,700 0 0 STILLWATER MINING CO 86074Q102 149 17,500 0 0 17,500 03 17,500 0 0 STR HOLDINGS INC 78478V100 805 99,223 0 0 99,223 03 99,223 0 0 STRATEGIC HOTELS & RESORTS I 86272T106 190 44,100 0 0 44,100 03 44,100 0 0 STRAYER EDUCATION INC 863236105 537 7,000 0 0 7,000 03 7,000 0 0 STRYKER CORP 863667101 5,228 110,920 0 0 110,920 03 110,920 0 0 Successfactors Inc. Com. USD0.001 864596101 453 19,700 0 0 19,700 01 19,700 0 0 SUN COMMUNITIES INC 866674104 158 4,500 0 0 4,500 03 4,500 0 0 SUNOCO INC 86764P109 712 22,960 0 0 22,960 03 22,960 0 0 SUNPOWER CORP-CLASS A 867652109 6 730 0 0 730 03 730 0 0 SUNSTONE HOTEL INVESTORS INC 867892101 198 34,737 0 0 34,737 03 34,737 0 0 SUNTECH POWER HOLDINGS-ADR 86800C104 150 65,000 0 0 65,000 03 65,000 0 0 SUNTRUST BANKS INC 867914103 565 31,500 0 0 31,500 03 31,500 0 0 Superior Industries Intl. Common U 868168105 155 10,000 0 0 10,000 01 10,000 0 0 Supervalu Inc. Common USD1.00 868536103 1,517 227,908 0 0 227,908 01 227,908 0 0 Supervalu Inc. Common USD1.00 868536103 6,225 935,550 0 0 935,550 02 935,550 0 0 SUSSER HOLDINGS CORP 869233106 574 28,800 0 0 28,800 03 28,800 0 0 SXC Health Solutions Corp. Com. NP 78505P100 1,420 25,494 0 0 25,494 01 25,494 0 0 Sycamore Networks Inc. Common USD0 871206405 1,444 80,000 0 0 80,000 01 80,000 0 0 Sykes Enterprises Inc Com. USD0.01 871237103 305 20,430 0 0 20,430 01 20,430 0 0 SYMANTEC CORP 871503108 10,961 672,450 0 0 672,450 03 672,450 0 0 Synalloy Corporation Common USD1.0 871565107 1,095 100,000 0 0 100,000 01 100,000 0 0 SYNOPSYS INC 871607107 76 3,100 0 0 3,100 03 3,100 0 0 SYNOVUS FINANCIAL CORP 87161C105 195 182,500 0 0 182,500 03 182,500 0 0 --------- 33,448

Form 13F Information Table GAM Holding Ltd. Page 44 of 50 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 SYSCO CORP 871829107 1,896 73,215 0 0 73,215 03 73,215 0 0 Sysco Corporation Com. USD1.00 871829107 11,289 436,020 0 0 436,020 01 436,020 0 0 T ROWE PRICE GROUP INC 74144T108 277 5,800 0 0 5,800 03 5,800 0 0 Taiwan Semi. - SP ADR (1 Rep 5 Ord 874039100 57 5,000 0 0 5,000 01 5,000 0 0 TAIWAN SEMICONDUCTOR-SP ADR 874039100 1,664 145,562 0 0 145,562 03 145,562 0 0 Take-Two Interactive Soft. Com. US 874054109 89 7,000 0 0 7,000 01 7,000 0 0 TANGER FACTORY OUTLET CENTER 875465106 593 22,800 0 0 22,800 03 22,800 0 0 TARGET CORP 87612E106 3,119 63,600 0 0 63,600 03 63,600 0 0 Target Corporation Common USD0.083 87612E106 11,689 238,400 0 0 238,400 01 238,400 0 0 TATA MOTORS LTD-SPON ADR 876568502 315 19,500 0 0 19,500 03 19,500 0 0 TAUBMAN CENTERS INC 876664103 780 15,500 0 0 15,500 03 15,500 0 0 TD AMERITRADE HOLDING CORP 87236Y108 71 4,800 0 0 4,800 03 4,800 0 0 TELE NORTE LESTE PART-ADR 879246106 572 60,000 0 0 60,000 03 60,000 0 0 Telephone & Data Sys. Inc. Com. US 879433100 489 23,000 0 0 23,000 01 23,000 0 0 Tellabs Incorporated Common USD0.0 879664100 254 59,186 0 0 59,186 01 59,186 0 0 Tellabs Incorporated Common USD0.0 879664100 999 232,658 0 0 232,658 02 232,658 0 0 Temple-Inland Inc. Common USD1.00 879868107 4,706 150,000 0 0 150,000 01 150,000 0 0 Tempur-Pedic International Com. US 88023U101 932 17,715 0 0 17,715 01 17,715 0 0 Tenet Healthcare Corp. Com. USD0.0 88033G100 620 150,000 0 0 150,000 01 150,000 0 0 Tenneco Inc. Common USD0.01 880349105 5,049 197,147 0 0 197,147 01 197,147 0 0 TERADATA CORP 88076W103 567 10,600 0 0 10,600 03 10,600 0 0 Teradata Corporation Com. USD0.01 88076W103 285 5,320 0 0 5,320 01 5,320 0 0 TERADYNE INC 880770102 198 18,000 0 0 18,000 03 18,000 0 0 Teradyne Inc. Common USD0.125 880770102 330 30,000 0 0 30,000 01 30,000 0 0 TESORO CORP 881609101 974 50,000 0 0 50,000 03 50,000 0 0 --------- 47,812

Form 13F Information Table GAM Holding Ltd. Page 45 of 50 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 TETRA TECHNOLOGIES INC 88162F105 672 87,000 0 0 87,000 03 87,000 0 0 TEVA PHARMACEUTICAL-SP ADR 881624209 1,708 45,900 0 0 45,900 03 45,900 0 0 Texas Industries Inc. Common USD1. 882491103 44 1,400 0 0 1,400 01 1,400 0 0 TEXAS INSTRUMENTS INC 882508104 8,399 315,150 0 0 315,150 03 315,150 0 0 Texas Instruments Inc. Common USD1 882508104 853 32,000 0 0 32,000 01 32,000 0 0 TEXTRON INC 883203101 99 5,600 0 0 5,600 03 5,600 0 0 The Walt Disney Company Common USD 254687106 799 26,500 0 0 26,500 01 26,500 0 0 THERMO FISHER SCIENTIFIC INC 883556102 5,160 101,890 0 0 101,890 03 101,890 0 0 Thomas & Betts Corporation Common 884315102 759 19,000 0 0 19,000 01 19,000 0 0 TIBCO Software Inc. Common USD0.00 88632Q103 510 22,770 0 0 22,770 01 22,770 0 0 Tidewater Incorporated Common USD0 886423102 359 8,530 0 0 8,530 01 8,530 0 0 TIFFANY & CO 886547108 9,640 158,500 0 0 158,500 03 158,500 0 0 TIM PARTICIPACOES SA-ADR 88706P205 653 27,740 0 0 27,740 03 27,740 0 0 TIME WARNER CABLE 88732J207 11,208 178,840 0 0 178,840 03 178,840 0 0 TIME WARNER INC 887317303 4,995 166,665 0 0 166,665 03 166,665 0 0 Time Warner Inc. Common USD0.01 887317303 420 14,000 0 0 14,000 01 14,000 0 0 TIMKEN CO 887389104 263 8,000 0 0 8,000 03 8,000 0 0 Tivo Incorporated Common USD0.001 888706108 325 34,801 0 0 34,801 01 34,801 0 0 TJX COMPANIES INC 872540109 3,489 62,900 0 0 62,900 03 62,900 0 0 TOLL BROTHERS INC 889478103 398 27,600 0 0 27,600 03 27,600 0 0 TORCHMARK CORP 891027104 1,380 39,600 0 0 39,600 03 39,600 0 0 TOTAL SYSTEM SERVICES INC 891906109 47 2,803 0 0 2,803 03 2,803 0 0 TOWERS WATSON & CO-CL A 891894107 134 2,240 0 0 2,240 03 2,240 0 0 TRANSOCEAN LTD H8817H100 2,417 49,463 0 0 49,463 03 49,463 0 0 Transocean Ltd. Com. CHF15.00 H8817H100 3,075 64,430 0 0 64,430 02 01 64,430 0 0 --------- 57,806

Form 13F Information Table GAM Holding Ltd. Page 46 of 50 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 TRAVELERS COS INC/THE 89417E109 2,388 49,000 0 0 49,000 03 49,000 0 0 TRINA SOLAR LTD-SPON ADR 89628E104 1,305 214,600 0 0 214,600 03 214,600 0 0 Trina Solar Ltd. ADR (1 Rep 100 Or 89628E104 2,199 361,600 0 0 361,600 01 361,600 0 0 TRUE RELIGION APPAREL INC 89784N104 532 19,730 0 0 19,730 03 19,730 0 0 TRW AUTOMOTIVE HOLDINGS CORP 87264S106 1,221 37,318 0 0 37,318 03 37,318 0 0 TUPPERWARE BRANDS CORP 899896104 806 15,000 0 0 15,000 03 15,000 0 0 TURKCELL ILETISIM HIZMET-ADR 900111204 728 64,560 0 0 64,560 03 64,560 0 0 TYSON FOODS INC-CL A 902494103 125 7,200 0 0 7,200 03 7,200 0 0 UDR INC 902653104 1,280 57,825 0 0 57,825 03 57,825 0 0 ULTRA PETROLEUM CORP 903914109 1,203 43,400 0 0 43,400 03 43,400 0 0 ULTRAPAR PARTICPAC-SPON ADR 90400P101 380 24,000 0 0 24,000 03 24,000 0 0 UNDER ARMOUR INC-CLASS A 904311107 1,508 22,700 0 0 22,700 03 22,700 0 0 Unilever NV NPV Com. NY Shares (1 904784709 732 23,250 0 0 23,250 01 23,250 0 0 UNION PACIFIC CORP 907818108 8,029 98,312 0 0 98,312 03 98,312 0 0 United Continental Holdings Common 910047109 1,112 57,411 0 0 57,411 01 57,411 0 0 UNITED CONTINENTAL HOLDINGS 910047109 607 31,300 0 0 31,300 03 31,300 0 0 UNITED MICROELECTRON-SP ADR 910873405 210 110,000 0 0 110,000 03 110,000 0 0 UNITED NATURAL FOODS INC 911163103 3,752 101,300 0 0 101,300 03 101,300 0 0 UNITED PARCEL SERVICE-CL B 911312106 12,592 199,400 0 0 199,400 03 199,400 0 0 United Parcel Service Com.Cls B US 911312106 11,181 177,060 0 0 177,060 01 177,060 0 0 United Rentals Inc. Common USD0.01 911363109 1,280 76,026 0 0 76,026 01 76,026 0 0 UNITED STATES STEEL CORP 912909108 660 30,000 0 0 30,000 03 30,000 0 0 United States STL Corp 4.00% Cv. 5-1 912909AE8 530 500,000 0 0 500,000 01 500,000 0 0 UNITED TECHNOLOGIES CORP 913017109 14,548 206,770 0 0 206,770 03 206,770 0 0 United Technologies Corp. Common U 913017109 11,403 162,070 0 0 162,070 01 162,070 0 0 UNITED THERAPEUTICS CORP 91307C102 487 13,000 0 0 13,000 03 13,000 0 0 --------- 80,800

Form 13F Information Table GAM Holding Ltd. Page 47 of 50 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 UNITEDHEALTH GROUP INC 91324P102 20,903 453,230 0 0 453,230 03 453,230 0 0 UnitedHealth Group Inc. Common USD 91324P102 1,638 35,510 0 0 35,510 01 35,510 0 0 UNIVERSAL HEALTH RLTY INCOME 91359E105 124 3,700 0 0 3,700 03 3,700 0 0 UNIVERSAL HEALTH SERVICES-B 913903100 340 10,000 0 0 10,000 03 10,000 0 0 UNUM GROUP 91529Y106 147 7,000 0 0 7,000 03 7,000 0 0 URBAN OUTFITTERS INC 917047102 65 2,900 0 0 2,900 03 2,900 0 0 URS CORP 903236107 44 1,500 0 0 1,500 03 1,500 0 0 URSTADT BIDDLE - CLASS A 917286205 101 6,300 0 0 6,300 03 6,300 0 0 US AIRWAYS GROUP INC 90341W108 468 85,000 0 0 85,000 03 85,000 0 0 US BANCORP 902973304 12,436 528,300 0 0 528,300 03 528,300 0 0 US Cellular Corporation Common USD 911684108 535 13,500 0 0 13,500 01 13,500 0 0 USA Truck Incorporated Common USD0 902925106 4,626 600,000 0 0 600,000 01 600,000 0 0 UTILITIES SELECT SECTOR SPDR 81369Y886 6,055 180,000 0 0 180,000 03 180,000 0 0 VALE SA-SP ADR 91912E105 12,507 548,569 0 0 548,569 03 548,569 0 0 VALE SA-SP PREF ADR 91912E204 5,775 275,000 0 0 275,000 03 275,000 0 0 Vale SA - SP ADR (1 Reps. 1 Ord.) 91912E105 1,026 45,000 0 0 45,000 01 45,000 0 0 VALERO ENERGY CORP 91913Y100 1,655 93,100 0 0 93,100 03 93,100 0 0 VALMONT INDUSTRIES 920253101 881 11,300 0 0 11,300 03 11,300 0 0 Vanceinfo Technologies ADR (1 Rep. 921564100 1,267 188,300 0 0 188,300 01 188,300 0 0 VANGUARD HIGH DVD YIELD ETF 921946406 49 1,200 0 0 1,200 03 1,200 0 0 VANGUARD MSCI EMERGING MARKE 922042858 25,167 702,200 0 0 702,200 03 702,200 0 0 VARIAN MEDICAL SYSTEMS INC 92220P105 908 17,400 0 0 17,400 03 17,400 0 0 Varian Semiconductor Eq. Assoc. Co 922207105 4,891 80,000 0 0 80,000 01 80,000 0 0 VENTAS INC 92276F100 4,963 100,463 0 0 100,463 03 100,463 0 0 VERISIGN INC 92343E102 106 3,700 0 0 3,700 03 3,700 0 0 --------- 106,675

Form 13F Information Table GAM Holding Ltd. Page 48 of 50 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 VERISK ANALYTICS INC-CLASS A 92345Y106 101 2,900 0 0 2,900 03 2,900 0 0 VERIZON COMMUNICATIONS INC 92343V104 14,020 380,969 0 0 380,969 03 380,969 0 0 VERTEX PHARMACEUTICALS INC 92532F100 1,840 41,300 0 0 41,300 03 41,300 0 0 VF CORP 918204108 3,008 24,750 0 0 24,750 03 24,750 0 0 VF Corporation Common USD1.00 918204108 12,853 105,770 0 0 105,770 01 105,770 0 0 VIACOM INC-CLASS B 92553P201 4,320 111,500 0 0 111,500 03 111,500 0 0 Viacom Inc. New Class A Com. USD0. 92553P102 679 14,000 0 0 14,000 01 14,000 0 0 Viad Corporation Common USD 1.50 92552R406 178 10,500 0 0 10,500 01 10,500 0 0 VIMPELCOM LTD-SPON ADR 92719A106 124 13,000 0 0 13,000 03 13,000 0 0 Vimpelcom Ltd. Spons. ADR (1 Rep. 92719A106 953 100,000 0 0 100,000 01 100,000 0 0 VIRGIN MEDIA INC 92769L101 168 6,900 0 0 6,900 03 6,900 0 0 Virgin Media Inc. Com. USD0.01 92769L101 9,559 392,500 0 0 392,500 01 392,500 0 0 Virgin Media Inc. 6.55% Cv. 15-11-2016 92769LAB7 2,912 6,000,000 0 0 6,000,000 01 6,000,000 0 0 VIROPHARMA INC 928241108 181 10,000 0 0 10,000 03 10,000 0 0 VISA INC-CLASS A SHARES 92826C839 21,694 253,084 0 0 253,084 03 253,084 0 0 Visa Inc. Class A Common USD0.0001 92826C839 6,686 78,000 0 0 78,000 01 78,000 0 0 Vmware Inc-Class A Common USD0.01 928563402 2,749 34,200 0 0 34,200 01 34,200 0 0 VMWARE INC-CLASS A 928563402 137 1,700 0 0 1,700 03 1,700 0 0 VODAFONE GROUP PLC-SP ADR 92857W209 1,283 50,000 0 0 50,000 03 50,000 0 0 VORNADO REALTY TRUST 929042109 5,166 69,225 0 0 69,225 03 69,225 0 0 VULCAN MATERIALS CO 929160109 1,127 40,900 0 0 40,900 03 40,900 0 0 Wal-Mart Stores Inc Common USD0.10 931142103 11,861 228,530 0 0 228,530 01 228,530 0 0 WAL-MART STORES INC 931142103 25,363 488,685 0 0 488,685 03 488,685 0 0 WALGREEN CO 931422109 10,070 306,180 0 0 306,180 03 306,180 0 0 Walgreen Company Common USD0.07812 931422109 5,245 159,482 0 0 159,482 01 159,482 0 0 Walgreen Company Common USD0.07812 931422109 21,613 657,125 0 0 657,125 02 657,125 0 0 --------- 163,887

Form 13F Information Table GAM Holding Ltd. Page 49 of 50 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 WALT DISNEY CO/THE 254687106 20,228 670,700 0 0 670,700 03 670,700 0 0 WALTER ENERGY INC 93317Q105 102 1,700 0 0 1,700 03 1,700 0 0 WASHINGTON POST-CLASS B 939640108 33 100 0 0 100 03 100 0 0 WASHINGTON REIT 939653101 507 18,000 0 0 18,000 03 18,000 0 0 WASTE MANAGEMENT INC 94106L109 2,113 64,900 0 0 64,900 03 64,900 0 0 Waste Management Inc. Com. USD0.01 94106L109 18,633 572,270 0 0 572,270 01 572,270 0 0 WATERS CORP 941848103 476 6,300 0 0 6,300 03 6,300 0 0 WATSON PHARMACEUTICALS INC 942683103 177 2,600 0 0 2,600 03 2,600 0 0 Watts Water Tech. Inc. A Common US 942749102 5,778 216,800 0 0 216,800 01 216,800 0 0 WEATHERFORD INTL LTD H27013103 1,043 84,000 0 0 84,000 03 84,000 0 0 Weatherford Intl. Ltd. Com. USD1.0 H27013103 610 50,000 0 0 50,000 01 50,000 0 0 Weight Watchers Intl. Incorporated 948626106 1,753 30,100 0 0 30,100 01 30,100 0 0 WEINGARTEN REALTY INVESTORS 948741103 726 34,300 0 0 34,300 03 34,300 0 0 WELLPOINT INC 94973V107 2,774 42,500 0 0 42,500 03 42,500 0 0 WELLS FARGO & CO 949746101 24,862 1,030,758 0 0 1,030,758 03 1,030,758 0 0 Wells Fargo & Co. Com. USD1.666 949746101 3,499 145,052 0 0 145,052 01 145,052 0 0 Westar Energy Inc. Common USD5.00 95709T100 79 3,000 0 0 3,000 01 3,000 0 0 WESTERN DIGITAL CORP 958102105 2,238 87,000 0 0 87,000 03 87,000 0 0 Western Digital Corp. Common USD0. 958102105 514 20,000 0 0 20,000 01 20,000 0 0 WESTERN UNION CO 959802109 1,442 94,300 0 0 94,300 03 94,300 0 0 Western Union Corp. Common USD0.01 959802109 12,504 817,520 0 0 817,520 01 817,520 0 0 WEYERHAEUSER CO 962166104 186 11,990 0 0 11,990 03 11,990 0 0 WHIRLPOOL CORP 963320106 1,143 22,900 0 0 22,900 03 22,900 0 0 WHITING PETROLEUM CORP 966387102 1,096 31,253 0 0 31,253 03 31,253 0 0 WHOLE FOODS MARKET INC 966837106 2,175 33,300 0 0 33,300 03 33,300 0 0 --------- 104,693

Form 13F Information Table GAM Holding Ltd. Page 50 of 50 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 WILEY (JOHN) & SONS-CLASS A 968223206 1,484 33,401 0 0 33,401 03 33,401 0 0 Williams Companies Inc. Common USD 969457100 1,522 62,537 0 0 62,537 01 62,537 0 0 WILLIAMS COS INC 969457100 4,615 189,600 0 0 189,600 03 189,600 0 0 WINDSTREAM CORP 97381W104 513 44,000 0 0 44,000 03 44,000 0 0 WISCONSIN ENERGY CORP 976657106 8,661 276,800 0 0 276,800 03 276,800 0 0 WR BERKLEY CORP 084423102 80 2,700 0 0 2,700 03 2,700 0 0 WR Berkley Corp. Common USD0.20 084423102 8,906 300,000 0 0 300,000 01 300,000 0 0 WUXI PHARMATECH INC-ADR 929352102 787 67,600 0 0 67,600 03 67,600 0 0 WW GRAINGER INC 384802104 5,039 33,700 0 0 33,700 03 33,700 0 0 WYNN RESORTS LTD 983134107 1,358 11,800 0 0 11,800 03 11,800 0 0 XCEL ENERGY INC 98389B100 412 16,690 0 0 16,690 03 16,690 0 0 XEROX CORP 984121103 2,031 291,400 0 0 291,400 03 291,400 0 0 XILINX INC 983919101 3,397 123,800 0 0 123,800 03 123,800 0 0 Xilinx Inc. Common USD0.01 983919101 867 31,600 0 0 31,600 01 31,600 0 0 YAHOO! INC 984332106 9,009 684,600 0 0 684,600 03 684,600 0 0 Yahoo! Incorporated Common USD0.00 984332106 1,324 100,557 0 0 100,557 01 100,557 0 0 Yahoo! Incorporated Common USD0.00 984332106 5,979 454,209 0 0 454,209 02 454,209 0 0 Yahoo! Incorporated Common USD0.00 984332106 395 30,000 0 0 30,000 01 30,000 0 0 YINGLI GREEN ENERGY HOLD-ADR 98584B103 1,395 450,000 0 0 450,000 03 450,000 0 0 YUM! BRANDS INC 988498101 3,788 76,700 0 0 76,700 03 76,700 0 0 Yum! Brands Inc. Com. NPV 988498101 4,459 90,290 0 0 90,290 02 01 90,290 0 0 ZIMMER HOLDINGS INC 98956P102 1,533 28,650 0 0 28,650 03 28,650 0 0 ZIONS BANCORPORATION 989701107 352 25,000 0 0 25,000 03 25,000 0 0 Zoll Medical Corp USD0.01 Com. 989922109 121 3,220 0 0 3,220 01 3,220 0 0 --------- 68,028 ========= 4,348,072