0000930413-12-000928.txt : 20120215 0000930413-12-000928.hdr.sgml : 20120215 20120215071220 ACCESSION NUMBER: 0000930413-12-000928 CONFORMED SUBMISSION TYPE: 13F-HR PUBLIC DOCUMENT COUNT: 1 CONFORMED PERIOD OF REPORT: 20111231 FILED AS OF DATE: 20120215 DATE AS OF CHANGE: 20120215 EFFECTIVENESS DATE: 20120215 FILER: COMPANY DATA: COMPANY CONFORMED NAME: GAM Holding Ltd. CENTRAL INDEX KEY: 0001438848 IRS NUMBER: 000000000 STATE OF INCORPORATION: V8 FISCAL YEAR END: 1231 FILING VALUES: FORM TYPE: 13F-HR SEC ACT: 1934 Act SEC FILE NUMBER: 028-13808 FILM NUMBER: 12614194 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 c68591_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: 12/31/11 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 02/14/12 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: 1,181 Form 13F Information Table Value Total: $4,466,152 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 47 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 (1 Rep. 6 90138A103 348 38,100 0 0 38,100 02 38,100 0 0 3M CO 88579Y101 20,517 251,035 0 0 251,035 03 251,035 0 0 3M Company Common USD0.01 88579Y101 12,295 150,440 0 0 150,440 02 150,440 0 0 ABBOTT LABORATORIES 002824100 22,295 396,490 0 0 396,490 03 396,490 0 0 ABERCROMBIE & FITCH CO-CL A 002896207 2,056 42,100 0 0 42,100 03 42,100 0 0 ABERDEEN LATIN AMERICAN EQTY 00306K106 10 328 0 0 328 03 328 0 0 Abovenet Inc. Com. USD0.01 00374N107 65 1,000 0 0 1,000 01 1,000 0 0 ACADIA REALTY TRUST 004239109 219 10,850 0 0 10,850 03 10,850 0 0 Accenture Plc-Cl A Com. USD0.00002 G1151C101 11,775 221,180 0 0 221,180 02 221,180 0 0 ACCENTURE PLC-CL A G1151C101 926 17,400 0 0 17,400 03 17,400 0 0 Acme Packet Inc. Com. USD0.001 004764106 735 23,790 0 0 23,790 02 23,790 0 0 Activision Blizzard Com. USD0.0000 00507V109 838 68,052 0 0 68,052 02 68,052 0 0 ACTIVISION BLIZZARD INC 00507V109 129 10,500 0 0 10,500 03 10,500 0 0 ADOBE SYSTEMS INC 00724F101 6,994 247,415 0 0 247,415 03 247,415 0 0 ADVANCE AUTO PARTS INC 00751Y106 111 1,600 0 0 1,600 03 1,600 0 0 ADVANCED MICRO DEVICES 007903107 71 13,200 0 0 13,200 03 13,200 0 0 Aecom Technology Corp. Com. USD0.0 00766T100 806 39,170 0 0 39,170 02 39,170 0 0 AEGION CORP 00770F104 447 29,108 0 0 29,108 03 29,108 0 0 AES CORP 00130H105 740 62,500 0 0 62,500 03 62,500 0 0 AETNA INC 00817Y108 2,447 58,000 0 0 58,000 03 58,000 0 0 AFLAC INC 001055102 4,503 104,100 0 0 104,100 03 104,100 0 0 AGCO CORP 001084102 95 2,200 0 0 2,200 03 2,200 0 0 AGILENT TECHNOLOGIES INC 00846U101 1,359 38,900 0 0 38,900 03 38,900 0 0 Agilent Technologies Inc. Common U 00846U101 721 20,640 0 0 20,640 02 20,640 0 0 AIG 19.01.21 CW/AIG 026874156 8 1,415 0 0 1,415 03 1,415 0 0 -------- 90,510

Form 13F Information Table GAM Holding Ltd. Page 2 of 47 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 AIR PRODUCTS & CHEMICALS INC 009158106 2,172 25,500 0 0 25,500 03 25,500 0 0 AIRGAS INC 009363102 898 11,500 0 0 11,500 03 11,500 0 0 AKAMAI TECHNOLOGIES INC 00971T101 110 3,400 0 0 3,400 03 3,400 0 0 ALCOA INC 013817101 5,348 618,210 0 0 618,210 03 618,210 0 0 Alcoa Inc. Common USD1.00 013817101 6,288 727,384 0 0 727,384 01 727,384 0 0 Alcoa Inc. Common USD1.00 013817101 32,604 3,771,825 0 0 3,771,825 02 3,771,825 0 0 ALEXANDER'S INC 014752109 222 600 0 0 600 03 600 0 0 ALEXANDRIA REAL ESTATE EQUIT 015271109 1,065 15,440 0 0 15,440 03 15,440 0 0 ALEXION PHARMACEUTICALS INC 015351109 290 4,058 0 0 4,058 03 4,058 0 0 ALLEGHENY TECHNOLOGIES INC 01741R102 91 1,900 0 0 1,900 03 1,900 0 0 ALLERGAN INC 018490102 6,942 79,120 0 0 79,120 03 79,120 0 0 ALLIANCE DATA SYSTEMS CORP 018581108 114 1,100 0 0 1,100 03 1,100 0 0 Alliancebernstein Holding LP Com. 01881G106 209 16,000 0 0 16,000 01 16,000 0 0 ALLIANT ENERGY CORP 018802108 88 2,000 0 0 2,000 03 2,000 0 0 ALLIED NEVADA GOLD CORP 019344100 67 2,200 0 0 2,200 03 2,200 0 0 Allot Communications Ltd. Com. USD M0854Q105 735 48,400 0 0 48,400 02 48,400 0 0 ALLSTATE CORP 020002101 1,686 61,500 0 0 61,500 03 61,500 0 0 Alpha Natural Resour. Inc. Com. US 02076X102 463 22,666 0 0 22,666 02 22,666 0 0 ALPHA NATURAL RESOURCES INC 02076X102 106 5,200 0 0 5,200 03 5,200 0 0 ALTERA CORP 021441100 263 7,100 0 0 7,100 03 7,100 0 0 ALTRIA GROUP INC 02209S103 8,040 271,150 0 0 271,150 03 271,150 0 0 AMAZON.COM INC 023135106 8,897 51,400 0 0 51,400 03 51,400 0 0 Amazon.Com Inc. Com. USD0.01 023135106 2,169 12,531 0 0 12,531 02 12,531 0 0 AMC Networks Inc. A W/I Com. NPV 00164V103 413 11,000 0 0 11,000 01 11,000 0 0 AMC Networks Inc. A W/I Com. NPV 00164V103 154 4,100 0 0 4,100 02 4,100 0 0 -------- 79,435

Form 13F Information Table GAM Holding Ltd. Page 3 of 47 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 AMEREN CORPORATION 023608102 1,149 34,670 0 0 34,670 03 34,670 0 0 Ameresco Inc. Class A Common USD0. 02361E108 3,152 229,736 0 0 229,736 01 229,736 0 0 Ameresco Inc. Class A Common USD0. 02361E108 135 9,862 0 0 9,862 02 9,862 0 0 AMERICA MOVIL-ADR SERIES L 02364W105 2,748 121,600 0 0 121,600 03 121,600 0 0 America Movil-ADR SL NPV(1 Rep 20 02364W105 452 20,000 0 0 20,000 01 20,000 0 0 AMERICAN CAMPUS COMMUNITIES 024835100 677 16,129 0 0 16,129 03 16,129 0 0 AMERICAN ELECTRIC POWER 025537101 2,100 50,836 0 0 50,836 03 50,836 0 0 AMERICAN EXPRESS CO 025816109 17,028 361,000 0 0 361,000 03 361,000 0 0 American Express Company Common US 025816109 1,132 24,000 0 0 24,000 01 24,000 0 0 AMERICAN INTERNATIONAL GROUP 026874784 498 21,450 0 0 21,450 03 21,450 0 0 AMERICAN WATER WORKS CO INC 030420103 1,969 61,800 0 0 61,800 03 61,800 0 0 AMERIPRISE FINANCIAL INC 03076C106 1,494 30,100 0 0 30,100 03 30,100 0 0 AMERISOURCEBERGEN CORP 03073E105 971 26,100 0 0 26,100 03 26,100 0 0 AMETEK INC 031100100 137 3,250 0 0 3,250 03 3,250 0 0 AMETEK Incorporated Common USD0.01 031100100 147 3,500 0 0 3,500 01 3,500 0 0 AMGEN INC 031162100 15,748 245,255 0 0 245,255 03 245,255 0 0 Ampco Pittsburgh Common USD1.00 032037103 10 500 0 0 500 01 500 0 0 AMPHENOL CORP-CL A 032095101 177 3,900 0 0 3,900 03 3,900 0 0 ANADARKO PETROLEUM CORP 032511107 5,114 67,000 0 0 67,000 03 67,000 0 0 Anadarko Petroleum Corp. Common US 032511107 153 2,000 0 0 2,000 01 2,000 0 0 ANALOG DEVICES INC 032654105 4,090 114,300 0 0 114,300 03 114,300 0 0 ANNALY CAPITAL MANAGEMENT IN 035710409 1,653 103,600 0 0 103,600 03 103,600 0 0 AOL INC 00184X105 9 606 0 0 606 03 606 0 0 AON CORP 037389103 866 18,500 0 0 18,500 03 18,500 0 0 APACHE CORP 037411105 13,332 147,182 0 0 147,182 03 147,182 0 0 --------- 74,940

Form 13F Information Table GAM Holding Ltd. Page 4 of 47 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 Apache Corporation Common USD0.625 037411105 2,075 22,900 0 0 22,900 02 01 22,900 0 0 APARTMENT INVT & MGMT CO -A 03748R101 710 31,005 0 0 31,005 03 31,005 0 0 APOLLO GROUP INC-CL A 037604105 1,494 27,735 0 0 27,735 03 27,735 0 0 Apple Inc NPV 037833100 3,933 9,710 0 0 9,710 02 9,710 0 0 APPLE INC 037833100 73,661 181,880 0 0 181,880 03 181,880 0 0 APPLIED MATERIALS INC 038222105 2,045 190,980 0 0 190,980 03 190,980 0 0 APTARGROUP INC 038336103 136 2,600 0 0 2,600 03 2,600 0 0 AQUA AMERICA INC 03836W103 3,224 146,200 0 0 146,200 03 146,200 0 0 Arcelormittal 5% Cv. 15-05-2014 03938LAK0 1,411 1,338,000 0 0 1,338,000 02 1,338,000 0 0 Arcelormittal 5% Cv. 15-05-2014 03938LAK0 25,241 23,897,000 0 0 23,897,000 01 23,897,000 0 0 ARCH COAL INC 039380100 59 4,100 0 0 4,100 03 4,100 0 0 ARCHER-DANIELS-MIDLAND CO 039483102 7,130 249,300 0 0 249,300 03 249,300 0 0 Archer Daniels 0.875% Cv. 15-02-20 039483AW2 1,720 1,707,000 0 0 1,707,000 02 1,707,000 0 0 Archer Daniels 0.875% Cv. 15-02-20 039483AW2 21,008 20,800,000 0 0 20,800,000 01 20,800,000 0 0 Archer Daniels Midland Common NPV 039483102 29 1,000 0 0 1,000 01 1,000 0 0 ARROW ELECTRONICS INC 042735100 79 2,100 0 0 2,100 03 2,100 0 0 Aruba Networks Inc. Common USD0.00 043176106 500 27,000 0 0 27,000 02 27,000 0 0 ASHFORD HOSPITALITY TRUST 044103109 128 15,970 0 0 15,970 03 15,970 0 0 ASSOCIATED ESTATES REALTY CP 045604105 164 10,300 0 0 10,300 03 10,300 0 0 ASSURANT INC 04621X108 74 1,800 0 0 1,800 03 1,800 0 0 AT&T INC 00206R102 42,609 1,409,034 0 0 1,409,034 03 1,409,034 0 0 ATWOOD OCEANICS INC 050095108 1,341 33,700 0 0 33,700 03 33,700 0 0 AUTODESK INC 052769106 146 4,800 0 0 4,800 03 4,800 0 0 AUTOLIV INC 052800109 89 1,667 0 0 1,667 03 1,667 0 0 AUTOMATIC DATA PROCESSING 053015103 4,401 81,490 0 0 81,490 03 81,490 0 0 AutoNation Incorporated Common USD 05329W102 221 6,000 0 0 6,000 01 6,000 0 0 AUTOZONE INC 053332102 2,275 7,000 0 0 7,000 03 7,000 0 0 -------- 195,903

Form 13F Information Table GAM Holding Ltd. Page 5 of 47 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 AutoZone Incorporated Common USD0. 053332102 9,097 28,000 0 0 28,000 01 28,000 0 0 AVALONBAY COMMUNITIES INC 053484101 3,380 25,883 0 0 25,883 03 25,883 0 0 AVERY DENNISON CORP 053611109 57 2,000 0 0 2,000 03 2,000 0 0 AVNET INC 053807103 87 2,800 0 0 2,800 03 2,800 0 0 AVON PRODUCTS INC 054303102 468 26,800 0 0 26,800 03 26,800 0 0 BAKER HUGHES INC 057224107 4,812 98,932 0 0 98,932 03 98,932 0 0 BALL CORP 058498106 764 21,400 0 0 21,400 03 21,400 0 0 BANCO BRADESCO-ADR 059460303 4,270 256,000 0 0 256,000 03 256,000 0 0 Banco Bradesco ADR (1 Rep. 1 Pref. 059460303 834 50,000 0 0 50,000 01 50,000 0 0 BANCO DE CHILE-ADR 059520106 409 5,000 0 0 5,000 03 5,000 0 0 Banco Macro SA ADR (1 rep. 10 ord. 05961W105 390 20,000 0 0 20,000 01 20,000 0 0 BANCO SANTANDER-CHILE-ADR 05965X109 719 9,500 0 0 9,500 03 9,500 0 0 BANCO SANTANDER BRASIL-ADS 05967A107 1,099 135,000 0 0 135,000 03 135,000 0 0 BANK OF AMERICA CORP 060505104 11,065 1,990,105 0 0 1,990,105 03 1,990,105 0 0 Bank of America Corp. Common USD0. 060505104 818 147,238 0 0 147,238 02 147,238 0 0 BANK OF NEW YORK MELLON CORP 064058100 5,420 272,226 0 0 272,226 03 272,226 0 0 Bank of NY Mellon Corp. Com. USD0. 064058100 518 26,000 0 0 26,000 01 26,000 0 0 BAXTER INTERNATIONAL INC 071813109 7,907 159,810 0 0 159,810 03 159,810 0 0 Baxter International Inc. Common U 071813109 10,435 210,890 0 0 210,890 02 210,890 0 0 BB&T CORP 054937107 1,898 75,400 0 0 75,400 03 75,400 0 0 BEAM INC 073730103 661 12,900 0 0 12,900 03 12,900 0 0 Beam Inc. Common USD3.125 073730103 307 6,000 0 0 6,000 01 6,000 0 0 Becton Dickinson & Co. Common USD1 075887109 523 7,000 0 0 7,000 01 7,000 0 0 BECTON DICKINSON AND CO 075887109 12,732 170,400 0 0 170,400 03 170,400 0 0 BED BATH & BEYOND INC 075896100 3,832 66,100 0 0 66,100 03 66,100 0 0 -------- 82,503

Form 13F Information Table GAM Holding Ltd. Page 6 of 47 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 BEMIS COMPANY 081437105 602 20,000 0 0 20,000 03 20,000 0 0 BERKSHIRE HATHAWAY INC-CL B 084670702 13,344 174,890 0 0 174,890 03 174,890 0 0 BEST BUY CO INC 086516101 7,502 321,000 0 0 321,000 03 321,000 0 0 Biglari Holdings Inc. Com. USD0.50 08986R101 184 500 0 0 500 01 500 0 0 BIOGEN IDEC INC 09062X103 1,596 14,500 0 0 14,500 03 14,500 0 0 Biogen Idec Inc. Common USD0.0005 09062X103 915 8,310 0 0 8,310 02 8,310 0 0 BIOMED REALTY TRUST INC 09063H107 662 36,600 0 0 36,600 03 36,600 0 0 BLACKROCK INC 09247X101 2,415 13,550 0 0 13,550 03 13,550 0 0 Blackrock Inc. Common USD0.01 09247X101 416 2,335 0 0 2,335 02 2,335 0 0 BMC SOFTWARE INC 055921100 1,477 45,060 0 0 45,060 03 45,060 0 0 Boeing Co. Common USD5 097023105 734 10,000 0 0 10,000 01 10,000 0 0 BOEING CO/THE 097023105 7,342 100,100 0 0 100,100 03 100,100 0 0 BORGWARNER INC 099724106 147 2,300 0 0 2,300 03 2,300 0 0 BorgWarner Inc. Com. USD0.01 099724106 11,544 181,114 0 0 181,114 01 181,114 0 0 BorgWarner Inc. Com. USD0.01 099724106 504 7,914 0 0 7,914 02 7,914 0 0 BOSTON PROPERTIES INC 101121101 5,123 51,440 0 0 51,440 03 51,440 0 0 BOSTON SCIENTIFIC CORP 101137107 2,822 528,440 0 0 528,440 03 528,440 0 0 Boston Scientific Corp. Common USD 101137107 6,953 1,303,372 0 0 1,303,372 01 1,303,372 0 0 Boston Scientific Corp. Common USD 101137107 34,987 6,559,125 0 0 6,559,125 02 6,559,125 0 0 Boyd Gaming Corporation Common USD 103304101 45 6,000 0 0 6,000 01 6,000 0 0 BRANDYWINE REALTY TRUST 105368203 356 37,500 0 0 37,500 03 37,500 0 0 BRASIL TELECOM SA-ADR 10553M101 518 29,127 0 0 29,127 03 29,127 0 0 BRASKEM SA-SPON ADR 105532105 522 37,000 0 0 37,000 03 37,000 0 0 BRE PROPERTIES INC 05564E106 984 19,500 0 0 19,500 03 19,500 0 0 BRF - BRASIL FOODS SA-ADR 10552T107 2,542 130,000 0 0 130,000 03 130,000 0 0 -------- 104,236

Form 13F Information Table GAM Holding Ltd. Page 7 of 47 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 Brink's Co./The Com. USD1.00 109696104 430 16,000 0 0 16,000 01 16,000 0 0 BRISTOL-MYERS SQUIBB CO 110122108 11,956 339,268 0 0 339,268 03 339,268 0 0 Bristol-Myers Squibb Co. Common US 110122108 282 8,000 0 0 8,000 01 8,000 0 0 BROADCOM CORP-CL A 111320107 840 28,600 0 0 28,600 03 28,600 0 0 Broadsoft Inc. Common NPV 11133B409 1,084 35,900 0 0 35,900 02 35,900 0 0 BROWN-FORMAN CORP-CLASS B 115637209 113 1,400 0 0 1,400 03 1,400 0 0 BRUKER CORP 116794108 676 54,400 0 0 54,400 03 54,400 0 0 Brunswick Corp. Common USD0.75 117043109 1,160 64,227 0 0 64,227 02 64,227 0 0 BUNGE LTD G16962105 3,283 57,400 0 0 57,400 03 57,400 0 0 Bunge Ltd. Common USD0.01 G16962105 2,597 45,410 0 0 45,410 02 01 45,410 0 0 C.H. ROBINSON WORLDWIDE INC 12541W209 1,626 23,300 0 0 23,300 03 23,300 0 0 CA INC 12673P105 1,177 58,200 0 0 58,200 03 58,200 0 0 CABLEVISION SYSTEMS-NY GRP-A 12686C109 64 4,500 0 0 4,500 03 4,500 0 0 Cablevision Systems Corp. Class A 12686C109 554 39,000 0 0 39,000 01 39,000 0 0 CABOT OIL & GAS CORP 127097103 1,260 16,600 0 0 16,600 03 16,600 0 0 Cabot Oil & Gas Corp. Com. USD0.10 127097103 395 5,210 0 0 5,210 02 5,210 0 0 CADENCE DESIGN SYS INC 127387108 181 17,400 0 0 17,400 03 17,400 0 0 Cadence Design Systems Inc. Com. U 127387108 1,776 170,660 0 0 170,660 02 170,660 0 0 CALPINE CORP 131347304 100 6,100 0 0 6,100 03 6,100 0 0 CAMDEN PROPERTY TRUST 133131102 1,102 17,700 0 0 17,700 03 17,700 0 0 CAMERON INTERNATIONAL CORP 13342B105 271 5,500 0 0 5,500 03 5,500 0 0 CAMPBELL SOUP CO 134429109 3,694 111,130 0 0 111,130 03 111,130 0 0 Campbell Soup Company Common USD0. 134429109 12,182 366,480 0 0 366,480 02 366,480 0 0 Canterbury Park Hdgs. Corp. Com. U 13811E101 77 5,800 0 0 5,800 01 5,800 0 0 CAPITAL ONE FINANCIAL CORP 14040H105 4,050 95,775 0 0 95,775 03 95,775 0 0 -------- 50,928

Form 13F Information Table GAM Holding Ltd. Page 8 of 47 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 CARDINAL HEALTH INC 14149Y108 2,071 50,995 0 0 50,995 03 50,995 0 0 CAREFUSION CORP 14170T101 113 4,450 0 0 4,450 03 4,450 0 0 Carefusion Corp. Common USD0.01 14170T101 3,811 150,000 0 0 150,000 01 150,000 0 0 CARMAX INC 143130102 765 25,100 0 0 25,100 03 25,100 0 0 CARNIVAL CORP 143658300 4,475 137,100 0 0 137,100 03 137,100 0 0 CATERPILLAR INC 149123101 10,641 117,450 0 0 117,450 03 117,450 0 0 CBL & ASSOCIATES PROPERTIES 124830100 603 38,434 0 0 38,434 03 38,434 0 0 CBRE GROUP INC 12504L109 3,133 205,858 0 0 205,858 03 205,858 0 0 CBS CORP-CLASS B NON VOTING 124857202 369 13,600 0 0 13,600 03 13,600 0 0 CEDAR REALTY TRUST INC 150602209 57 13,300 0 0 13,300 03 13,300 0 0 CELANESE CORP-SERIES A 150870103 142 3,200 0 0 3,200 03 3,200 0 0 CELGENE CORP 151020104 6,206 91,800 0 0 91,800 03 91,800 0 0 CEMIG SA -SPONS ADR 204409601 1,516 85,200 0 0 85,200 03 85,200 0 0 CENTERPOINT ENERGY INC 15189T107 183 9,100 0 0 9,100 03 9,100 0 0 CENTRAIS ELEC BRAS-ADR PREF 15234Q108 290 20,000 0 0 20,000 03 20,000 0 0 CENTRAIS ELETRICAS BR-SP ADR 15234Q207 1,641 169,000 0 0 169,000 03 169,000 0 0 CENTURYLINK INC 156700106 3,479 93,527 0 0 93,527 03 93,527 0 0 CERNER CORP 156782104 3,112 50,800 0 0 50,800 03 50,800 0 0 CF INDUSTRIES HOLDINGS INC 125269100 265 1,830 0 0 1,830 03 1,830 0 0 CHESAPEAKE ENERGY CORP 165167107 1,915 85,900 0 0 85,900 03 85,900 0 0 Chesapeake Energy Corp. Com. USD0. 165167107 1,830 82,073 0 0 82,073 02 82,073 0 0 CHEVRON CORP 166764100 53,466 502,500 0 0 502,500 03 502,500 0 0 CHINA PETROLEUM & CHEM-ADR 16941R108 525 5,000 0 0 5,000 03 5,000 0 0 CHINA UNICOM HONG KONG-ADR 16945R104 317 15,000 0 0 15,000 03 15,000 0 0 CHIPOTLE MEXICAN GRILL INC 169656105 2,254 6,675 0 0 6,675 03 6,675 0 0 --------- 103,179

Form 13F Information Table GAM Holding Ltd. Page 9 of 47 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 Christopher & Banks Corp. Common U 171046105 175 75,000 0 0 75,000 01 75,000 0 0 CHUBB CORP 171232101 11,200 161,800 0 0 161,800 03 161,800 0 0 Chubb Corporation Common USD1.00 171232101 7,269 105,000 0 0 105,000 01 105,000 0 0 CHUNGHWA TELECOM LTD-ADR 17133Q502 266 8,000 0 0 8,000 03 8,000 0 0 CHURCH & DWIGHT CO INC 171340102 1,981 43,300 0 0 43,300 03 43,300 0 0 Church & Dwight Co. Inc. Common US 171340102 4,577 100,000 0 0 100,000 01 100,000 0 0 CIA BRASILEIRA DE DIS-SP PRF 20440T201 801 22,000 0 0 22,000 03 22,000 0 0 CIA CERVECERIAS UNIDAS-ADR 204429104 2,537 40,200 0 0 40,200 03 40,200 0 0 CIA DE MINAS BUENAVENTUR-ADR 204448104 230 6,000 0 0 6,000 03 6,000 0 0 CIA SANEAMENTO BASICO DE-ADR 20441A102 6,396 114,936 0 0 114,936 03 114,936 0 0 CIA SIDERURGICA NACL-SP ADR 20440W105 736 90,000 0 0 90,000 03 90,000 0 0 CIGNA CORP 125509109 227 5,400 0 0 5,400 03 5,400 0 0 CIMAREX ENERGY CO 171798101 118 1,900 0 0 1,900 03 1,900 0 0 CINCINNATI FINANCIAL CORP 172062101 119 3,900 0 0 3,900 03 3,900 0 0 CINTAS CORP 172908105 108 3,100 0 0 3,100 03 3,100 0 0 Circor International Inc. Com. USD 17273K109 300 8,500 0 0 8,500 01 8,500 0 0 CISCO SYSTEMS INC 17275R102 22,143 1,224,745 0 0 1,224,745 03 1,224,745 0 0 Cisco Systems Inc. Common USD0.001 17275R102 5,728 316,714 0 0 316,714 01 316,714 0 0 Cisco Systems Inc. Common USD0.001 17275R102 28,928 1,599,669 0 0 1,599,669 02 1,599,669 0 0 Cisco Systems Inc. Common USD0.001 17275R102 13,990 773,550 0 0 773,550 02 773,550 0 0 CIT GROUP INC 125581801 136 3,900 0 0 3,900 03 3,900 0 0 CITIGROUP INC 172967424 15,808 600,840 0 0 600,840 03 600,840 0 0 Citigroup Incorporated Common USD0 172967424 1,147 43,577 0 0 43,577 01 43,577 0 0 Citigroup Incorporated Common USD0 172967424 5,918 224,947 0 0 224,947 02 224,947 0 0 CITRIX SYSTEMS INC 177376100 4,080 67,200 0 0 67,200 03 67,200 0 0 -------- 134,918

Form 13F Information Table GAM Holding Ltd. Page 10 of 47 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 Clearwire Corp. Class A Com. USD0. 18538Q105 75 38,710 0 0 38,710 02 01 38,710 0 0 CLIFFS NATURAL RESOURCES INC 18683K101 2,600 41,700 0 0 41,700 03 41,700 0 0 CLOROX COMPANY 189054109 1,511 22,700 0 0 22,700 03 22,700 0 0 CME GROUP INC 12572Q105 829 3,403 0 0 3,403 03 3,403 0 0 Cninsure Inc. ADR (1 Rep. 20 Ord.) 18976M103 691 100,000 0 0 100,000 01 100,000 0 0 COACH INC 189754104 3,803 62,300 0 0 62,300 03 62,300 0 0 Cobalt International Energy Com. U 19075F106 1,038 66,900 0 0 66,900 02 66,900 0 0 COCA-COLA CO/THE 191216100 27,143 387,930 0 0 387,930 03 387,930 0 0 Coca-Cola Company Common USD0.25 191216100 350 5,000 0 0 5,000 01 5,000 0 0 COCA-COLA ENTERPRISES 19122T109 2,323 90,100 0 0 90,100 03 90,100 0 0 COGNIZANT TECH SOLUTIONS-A 192446102 2,354 36,600 0 0 36,600 03 36,600 0 0 Cognizant Tech. Solutions A Com. U 192446102 509 7,910 0 0 7,910 02 7,910 0 0 Cohen & Steers Inc. Com. USD0.01 19247A100 289 10,000 0 0 10,000 01 10,000 0 0 COLGATE-PALMOLIVE CO 194162103 3,917 42,400 0 0 42,400 03 42,400 0 0 Colgate-Palmolive Co. Common USD1. 194162103 11,947 129,310 0 0 129,310 02 129,310 0 0 COLONIAL PROPERTIES TRUST 195872106 423 20,260 0 0 20,260 03 20,260 0 0 COMCAST CORP-CLASS A 20030N101 10,683 450,590 0 0 450,590 03 450,590 0 0 COMCAST CORP-SPECIAL CL A 20030N200 567 24,057 0 0 24,057 03 24,057 0 0 COMERICA INC 200340107 2,810 108,900 0 0 108,900 03 108,900 0 0 COMMONWEALTH REIT 203233101 350 21,050 0 0 21,050 03 21,050 0 0 COMPANHIA DE BEBIDAS-PRF ADR 20441W203 3,970 110,000 0 0 110,000 03 110,000 0 0 COMPUTER SCIENCES CORP 205363104 3,278 138,330 0 0 138,330 03 138,330 0 0 CONAGRA FOODS INC 205887102 240 9,100 0 0 9,100 03 9,100 0 0 CONCHO RESOURCES INC 20605P101 322 3,434 0 0 3,434 03 3,434 0 0 Conns Inc Common USD0.01 208242107 11,090 1,000,000 0 0 1,000,000 01 1,000,000 0 0 -------- 93,112

Form 13F Information Table GAM Holding Ltd. Page 11 of 47 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 ConocoPhillips Common USD1.250 20825C104 7,287 100,000 0 0 100,000 01 100,000 0 0 CONOCOPHILLIPS 20825C104 20,997 288,145 0 0 288,145 03 288,145 0 0 CONSOL ENERGY INC 20854P109 2,430 66,200 0 0 66,200 03 66,200 0 0 CONSOLIDATED EDISON INC 209115104 397 6,400 0 0 6,400 03 6,400 0 0 Consolidated Tomoka Land Common US 210226106 162 6,000 0 0 6,000 01 6,000 0 0 CONSTELLATION BRANDS INC-A 21036P108 511 24,700 0 0 24,700 03 24,700 0 0 CONSTELLATION ENERGY GROUP 210371100 155 3,900 0 0 3,900 03 3,900 0 0 CONSUMER DISCRETIONARY SELT 81369Y407 3,122 80,000 0 0 80,000 03 80,000 0 0 CONTINENTAL RESOURCES INC/OK 212015101 53 800 0 0 800 03 800 0 0 CORNING INC 219350105 7,547 581,400 0 0 581,400 03 581,400 0 0 Corning Incorporated Common USD0.5 219350105 39 3,000 0 0 3,000 01 3,000 0 0 CORPORATE OFFICE PROPERTIES 22002T108 398 18,700 0 0 18,700 03 18,700 0 0 CORRECTIONS CORP OF AMERICA 22025Y407 560 27,500 0 0 27,500 03 27,500 0 0 Corrections Corp. of Amer. Com. US 22025Y407 411 20,173 0 0 20,173 02 20,173 0 0 COSTCO WHOLESALE CORP 22160K105 14,123 169,500 0 0 169,500 03 169,500 0 0 COUSINS PROPERTIES INC 222795106 138 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 100 3,300 0 0 3,300 03 3,300 0 0 CPFL ENERGIA SA-ADR 126153105 635 22,500 0 0 22,500 03 22,500 0 0 CR BARD INC 067383109 4,920 57,540 0 0 57,540 03 57,540 0 0 Crane Company Common USD1.00 224399105 420 9,000 0 0 9,000 01 9,000 0 0 CREDICORP LTD G2519Y108 241 2,200 0 0 2,200 03 2,200 0 0 CREE INC 225447101 48 2,200 0 0 2,200 03 2,200 0 0 Cree Inc. Common USD0.00125 225447101 9,005 408,578 0 0 408,578 01 408,578 0 0 Cree Inc. Common USD0.00125 225447101 386 17,525 0 0 17,525 02 17,525 0 0 -------- 74,144

Form 13F Information Table GAM Holding Ltd. Page 12 of 47 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 CROSSTEX ENERGY INC 22765Y104 130 10,300 0 0 10,300 03 10,300 0 0 CROWN CASTLE INTL CORP 228227104 264 5,900 0 0 5,900 03 5,900 0 0 CROWN HOLDINGS INC 228368106 272 8,100 0 0 8,100 03 8,100 0 0 CSX CORP 126408103 3,492 165,800 0 0 165,800 03 165,800 0 0 CTRIP.COM INTERNATIONAL-ADR 22943F100 210 8,970 0 0 8,970 03 8,970 0 0 CTS Corporation Common NPV 126501105 285 31,000 0 0 31,000 01 31,000 0 0 CUBESMART 229663109 211 19,800 0 0 19,800 03 19,800 0 0 CUMMINS INC 231021106 2,112 24,000 0 0 24,000 03 24,000 0 0 Cummins Inc. Common USD2.50 231021106 9,561 108,626 0 0 108,626 01 108,626 0 0 Cummins Inc. Common USD2.50 231021106 419 4,757 0 0 4,757 02 4,757 0 0 Curtiss-Wright Corporation Common 231561101 106 3,000 0 0 3,000 01 3,000 0 0 CVS CAREMARK CORP 126650100 18,578 455,570 0 0 455,570 03 455,570 0 0 D.R. Horton Inc 2% Cv. 15-05-2014 23331ABB4 3,198 2,750,000 0 0 2,750,000 02 2,750,000 0 0 Dana Holding Corp. Common USD0.01 235825205 170 14,000 0 0 14,000 01 14,000 0 0 Dana Holding Corp. Common USD0.01 235825205 728 59,971 0 0 59,971 02 59,971 0 0 DANAHER CORP 235851102 6,054 128,700 0 0 128,700 03 128,700 0 0 DARDEN RESTAURANTS INC 237194105 137 3,000 0 0 3,000 03 3,000 0 0 Darling International Inc. Com. US 237266101 9,890 744,160 0 0 744,160 01 744,160 0 0 Darling International Inc. Com. US 237266101 425 31,980 0 0 31,980 02 31,980 0 0 DAVITA INC 23918K108 1,759 23,200 0 0 23,200 03 23,200 0 0 DCT INDUSTRIAL TRUST INC 233153105 294 57,400 0 0 57,400 03 57,400 0 0 DDR CORP 23317H102 670 55,059 0 0 55,059 03 55,059 0 0 DEAN FOODS CO 242370104 672 60,000 0 0 60,000 03 60,000 0 0 Deckers Outdoor Corp. Common USD 0 243537107 901 11,930 0 0 11,930 02 11,930 0 0 DEERE & CO 244199105 4,780 61,800 0 0 61,800 03 61,800 0 0 -------- 65,319

Form 13F Information Table GAM Holding Ltd. Page 13 of 47 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 Deere & Company Common USD1.00 244199105 890 11,500 0 0 11,500 01 11,500 0 0 DELL INC 24702R101 5,144 351,600 0 0 351,600 03 351,600 0 0 DELTA AIR LINES INC 247361702 37 4,600 0 0 4,600 03 4,600 0 0 Delta Air Lines Inc. Common NPV 247361702 483 59,660 0 0 59,660 02 59,660 0 0 DENBURY RESOURCES INC 247916208 423 28,000 0 0 28,000 03 28,000 0 0 DENTSPLY INTERNATIONAL INC 249030107 2,243 64,100 0 0 64,100 03 64,100 0 0 DEVON ENERGY CORPORATION 25179M103 12,685 204,593 0 0 204,593 03 204,593 0 0 DEVRY INC 251893103 50 1,300 0 0 1,300 03 1,300 0 0 Diageo PLC Sponsored ADR 25243Q205 656 7,500 0 0 7,500 01 7,500 0 0 DIAMOND OFFSHORE DRILLING 25271C102 3,380 61,173 0 0 61,173 03 61,173 0 0 DIAMONDROCK HOSPITALITY CO 252784301 426 44,143 0 0 44,143 03 44,143 0 0 Diebold Incorporated Common USD1.2 253651103 526 17,500 0 0 17,500 01 17,500 0 0 DIGITAL REALTY TRUST INC 253868103 1,767 26,500 0 0 26,500 03 26,500 0 0 Digitalglobe Inc. Com. USD0.001 25389M877 596 34,840 0 0 34,840 02 34,840 0 0 DIRECTV-CLASS A 25490A101 3,754 87,801 0 0 87,801 03 87,801 0 0 DIRECTV Class A Com. USD0.01 25490A101 470 11,000 0 0 11,000 01 11,000 0 0 DISCOVER FINANCIAL SERVICES 254709108 1,830 76,250 0 0 76,250 03 76,250 0 0 DISCOVERY COMMUNICATIONS-A 25470F104 115 2,800 0 0 2,800 03 2,800 0 0 DISCOVERY COMMUNICATIONS-C 25470F302 113 3,000 0 0 3,000 03 3,000 0 0 DISH NETWORK CORP-A 25470M109 122 4,300 0 0 4,300 03 4,300 0 0 DISH Network Corp. Cls. A Com. USD 25470M109 541 19,000 0 0 19,000 01 19,000 0 0 DOLBY LABORATORIES INC-CL A 25659T107 31 1,000 0 0 1,000 03 1,000 0 0 DOLLAR GENERAL CORP 256677105 119 2,900 0 0 2,900 03 2,900 0 0 DOLLAR TREE INC 256746108 212 2,550 0 0 2,550 03 2,550 0 0 DOMINION RESOURCES INC/VA 25746U109 4,899 92,300 0 0 92,300 03 92,300 0 0 -------- 41,512

Form 13F Information Table GAM Holding Ltd. Page 14 of 47 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 DOMTAR CORP 257559203 192 2,400 0 0 2,400 03 2,400 0 0 DOUGLAS EMMETT INC 25960P109 637 34,900 0 0 34,900 03 34,900 0 0 DOVER CORP 260003108 6,240 107,500 0 0 107,500 03 107,500 0 0 DOW CHEMICAL CO/THE 260543103 8,798 305,900 0 0 305,900 03 305,900 0 0 DR HORTON INC 23331A109 588 46,600 0 0 46,600 03 46,600 0 0 DR Horton Inc NOTE 2.000% 5/1 23331ABB4 14,538 12,500,000 0 0 12,500,000 01 12,500,000 0 0 DR PEPPER SNAPPLE GROUP INC 26138E109 2,452 62,100 0 0 62,100 03 62,100 0 0 Dr Pepper Snapple Grp. Inc. Com. U 26138E109 395 10,000 0 0 10,000 01 10,000 0 0 DTE ENERGY COMPANY 233331107 207 3,800 0 0 3,800 03 3,800 0 0 Du Pont (E.I.) De Nemours USD0.30 263534109 5,288 115,503 0 0 115,503 01 115,503 0 0 Du Pont (E.I.) De Nemours USD0.30 263534109 27,202 594,188 0 0 594,188 02 594,188 0 0 DU PONT (E.I.) DE NEMOURS 263534109 5,796 126,600 0 0 126,600 03 126,600 0 0 DUKE ENERGY CORP 26441C105 1,276 58,000 0 0 58,000 03 58,000 0 0 DUKE REALTY CORP 264411505 810 67,201 0 0 67,201 03 67,201 0 0 DUN & BRADSTREET CORP 26483E100 82 1,100 0 0 1,100 03 1,100 0 0 DUPONT FABROS TECHNOLOGY 26613Q106 363 15,000 0 0 15,000 03 15,000 0 0 EASTGROUP PROPERTIES INC 277276101 335 7,700 0 0 7,700 03 7,700 0 0 EASTMAN CHEMICAL CO 277432100 172 4,400 0 0 4,400 03 4,400 0 0 Eastman Kodak Company Common USD2. 277461109 66 101,359 0 0 101,359 01 101,359 0 0 Eastman Kodak Company Common USD2. 277461109 295 454,870 0 0 454,870 02 454,870 0 0 EATON CORP 278058102 5,350 122,900 0 0 122,900 03 122,900 0 0 EATON VANCE CORP 278265103 54 2,300 0 0 2,300 03 2,300 0 0 EBAY INC 278642103 6,354 209,480 0 0 209,480 03 209,480 0 0 eBay Incorporated Common USD0.001 278642103 3,881 127,972 0 0 127,972 01 127,972 0 0 eBay Incorporated Common USD0.001 278642103 19,021 627,125 0 0 627,125 02 627,125 0 0 eBay Incorporated Common USD0.001 278642103 303 10,000 0 0 10,000 01 10,000 0 0 -------- 110,694

Form 13F Information Table GAM Holding Ltd. Page 15 of 47 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 eBay Incorporated Common USD0.001 278642103 2,474 81,584 0 0 81,584 02 81,584 0 0 Echostar Corp. A Com. NPV 278768106 293 14,000 0 0 14,000 01 14,000 0 0 ECOLAB INC 278865100 5,914 102,300 0 0 102,300 03 102,300 0 0 ECOPETROL SA-SPONSORED ADR 279158109 1,959 44,000 0 0 44,000 03 44,000 0 0 EDISON INTERNATIONAL 281020107 2,352 56,800 0 0 56,800 03 56,800 0 0 EDUCATION REALTY TRUST INC 28140H104 158 15,400 0 0 15,400 03 15,400 0 0 Edward Lifesciences Corporation Co 28176E108 1,292 18,270 0 0 18,270 02 18,270 0 0 EDWARDS LIFESCIENCES CORP 28176E108 163 2,300 0 0 2,300 03 2,300 0 0 EL PASO CORP 28336L109 577 21,700 0 0 21,700 03 21,700 0 0 EL Paso Corporation Common USD3.00 28336L109 31,574 1,188,099 0 0 1,188,099 01 1,188,099 0 0 EL Paso Corporation Common USD3.00 28336L109 113,784 4,281,777 0 0 4,281,777 02 4,281,777 0 0 EL Paso Corporation Common USD3.00 28336L109 718 27,000 0 0 27,000 01 27,000 0 0 Electronic Arts Inc. Common USD0.0 285512109 268 13,000 0 0 13,000 01 13,000 0 0 ELI LILLY & CO 532457108 7,660 184,320 0 0 184,320 03 184,320 0 0 Ellie Mae Inc. Com. USD0.0001 28849P100 373 66,000 0 0 66,000 02 66,000 0 0 ELSTER GROUP SE-ADR 290348101 1,888 145,237 0 0 145,237 03 145,237 0 0 EMBRAER SA-ADR 29082A107 1,211 48,000 0 0 48,000 03 48,000 0 0 EMC Corp. 1.75% Cv. 01-12-2013 268648AM4 1,010 700,000 0 0 700,000 02 700,000 0 0 EMC Corp. 1.75% Cv. 01-12-2013 268648AM4 15,840 11,000,000 0 0 11,000,000 01 11,000,000 0 0 EMC Corp. Massachusetts Common USD 268648102 1,785 82,860 0 0 82,860 02 82,860 0 0 EMC CORP/MASS 268648102 10,242 475,486 0 0 475,486 03 475,486 0 0 EMERSON ELECTRIC CO 291011104 13,178 282,840 0 0 282,840 03 282,840 0 0 EMPRESA NAC ELEC-CHIL-SP ADR 29244T101 2,368 53,400 0 0 53,400 03 53,400 0 0 ENERGEN CORP 29265N108 70 1,400 0 0 1,400 03 1,400 0 0 ENERGIZER HOLDINGS INC 29266R108 108 1,400 0 0 1,400 03 1,400 0 0 Energizer Holdings Inc. Common USD 29266R108 635 8,200 0 0 8,200 01 8,200 0 0 -------- 217,892

Form 13F Information Table GAM Holding Ltd. Page 16 of 47 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 ENERGY SELECT SECTOR SPDR 81369Y506 2,765 40,000 0 0 40,000 03 40,000 0 0 ENERSIS S.A. -SPONS ADR 29274F104 2,390 135,540 0 0 135,540 03 135,540 0 0 Enova Systems Inc. Ord. NPV 29355M200 98 405,462 0 0 405,462 01 405,462 0 0 Enova Systems Inc. Ord. NPV 29355M200 255 1,060,970 0 0 1,060,970 02 1,060,970 0 0 Ensco PLC Spon. ADR (1 Rep. 1 Ord. 29358Q109 452 9,630 0 0 9,630 02 9,630 0 0 ENTERGY CORP 29364G103 3,159 43,250 0 0 43,250 03 43,250 0 0 ENTERTAINMENT PROPERTIES TR 29380T105 577 13,200 0 0 13,200 03 13,200 0 0 EOG RESOURCES INC 26875P101 2,532 25,700 0 0 25,700 03 25,700 0 0 EQT CORP 26884L109 285 5,200 0 0 5,200 03 5,200 0 0 EQUIFAX INC 294429105 97 2,500 0 0 2,500 03 2,500 0 0 EQUITY LIFESTYLE PROPERTIES 29472R108 667 10,000 0 0 10,000 03 10,000 0 0 EQUITY ONE INC 294752100 267 15,700 0 0 15,700 03 15,700 0 0 EQUITY RESIDENTIAL 29476L107 8,834 154,900 0 0 154,900 03 154,900 0 0 ESSEX PROPERTY TRUST INC 297178105 1,138 8,100 0 0 8,100 03 8,100 0 0 ESTEE LAUDER COMPANIES-CL A 518439104 2,898 25,800 0 0 25,800 03 25,800 0 0 Exelis Inc. Com. NPV 30162A108 109 12,000 0 0 12,000 01 12,000 0 0 EXELON CORP 30161N101 7,691 177,325 0 0 177,325 03 177,325 0 0 Exelon Corporation Common NPV 30161N101 2,928 67,510 0 0 67,510 02 01 67,510 0 0 EXPEDITORS INTL WASH INC 302130109 1,475 36,000 0 0 36,000 03 36,000 0 0 Express Incorporated NPV 30219E103 32 1,600 0 0 1,600 02 1,600 0 0 EXPRESS SCRIPTS INC 302182100 3,169 70,900 0 0 70,900 03 70,900 0 0 EXTRA SPACE STORAGE INC 30225T102 538 22,200 0 0 22,200 03 22,200 0 0 EXXON MOBIL CORP 30231G102 81,846 965,616 0 0 965,616 03 965,616 0 0 Exxon Mobil Corp. Com. NPV 30231G102 170 2,000 0 0 2,000 01 2,000 0 0 F5 NETWORKS INC 315616102 722 6,800 0 0 6,800 03 6,800 0 0 -------- 125,090

Form 13F Information Table GAM Holding Ltd. Page 17 of 47 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 F5 Networks Inc. Common NPV 15616102 1,195 11,265 0 0 11,265 02 11,265 0 0 FAMILY DOLLAR STORES 307000109 138 2,400 0 0 2,400 03 2,400 0 0 FASTENAL CO 311900104 1,143 26,200 0 0 26,200 03 26,200 0 0 Federal Mogul Corp. Com. USD0.01 313549404 546 37,000 0 0 37,000 01 37,000 0 0 FEDERAL REALTY INVS TRUST 313747206 1,579 17,400 0 0 17,400 03 17,400 0 0 FEDEX CORP 31428X106 4,042 48,400 0 0 48,400 03 48,400 0 0 FELCOR LODGING TRUST INC 31430F101 94 30,840 0 0 30,840 03 30,840 0 0 Ferro Corporation Common USD1 315405100 49 10,000 0 0 10,000 01 10,000 0 0 FIDELITY NATIONAL FINL-A 31620R105 70 4,367 0 0 4,367 03 4,367 0 0 FIDELITY NATIONAL INFORMATIO 31620M106 133 4,997 0 0 4,997 03 4,997 0 0 FIFTH THIRD BANCORP 316773100 261 20,500 0 0 20,500 03 20,500 0 0 FINANCIAL SELECT SECTOR SPDR 81369Y605 7,124 548,000 0 0 548,000 03 548,000 0 0 Finisar Corporation Com. USD0.001 31787A507 1,059 63,230 0 0 63,230 02 63,230 0 0 FIRST INDUSTRIAL REALTY TR 32054K103 214 20,900 0 0 20,900 03 20,900 0 0 FIRST POTOMAC REALTY TRUST 33610F109 154 11,800 0 0 11,800 03 11,800 0 0 FIRST SOLAR INC 336433107 37 1,100 0 0 1,100 03 1,100 0 0 First Solar Inc. Com. USD0.001 336433107 4,783 141,680 0 0 141,680 01 141,680 0 0 FIRSTENERGY CORP 337932107 1,954 44,101 0 0 44,101 03 44,101 0 0 FirstEnergy Corporation Common USD 337932107 35 800 0 0 800 01 800 0 0 FISERV INC 337738108 2,144 36,500 0 0 36,500 03 36,500 0 0 Fisher Communications Inc. Com. US 337756209 403 14,000 0 0 14,000 01 14,000 0 0 FLEXTRONICS INTL LTD Y2573F102 93 16,498 0 0 16,498 03 16,498 0 0 FLIR SYSTEMS INC 302445101 100 4,000 0 0 4,000 03 4,000 0 0 FLOWERS FOODS INC 343498101 65 3,400 0 0 3,400 03 3,400 0 0 FLOWSERVE CORP 34354P105 4,013 40,400 0 0 40,400 03 40,400 0 0 -------- 31,427

Form 13F Information Table GAM Holding Ltd. Page 18 of 47 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 Flowserve Corporation Common USD1. 34354P105 298 3,000 0 0 3,000 01 3,000 0 0 FLUOR CORP 343412102 1,201 23,900 0 0 23,900 03 23,900 0 0 FMC CORP 302491303 120 1,400 0 0 1,400 03 1,400 0 0 FMC TECHNOLOGIES INC 30249U101 272 5,200 0 0 5,200 03 5,200 0 0 FOCUS MEDIA HOLDING-ADR 34415V109 536 27,500 0 0 27,500 03 27,500 0 0 Fomento Economico Mex ADR SAB (Rep 344419106 188 2,700 0 0 2,700 01 2,700 0 0 FORD MOTOR CO 345370860 5,228 485,900 0 0 485,900 03 485,900 0 0 FOREST CITY ENTERPRISES-CL A 345550107 300 25,400 0 0 25,400 03 25,400 0 0 FOREST LABORATORIES INC 345838106 2,251 74,375 0 0 74,375 03 74,375 0 0 Fortune Brands Home & Security Com 34964C106 136 8,000 0 0 8,000 01 8,000 0 0 FOSSIL INC 349882100 87 1,100 0 0 1,100 03 1,100 0 0 FRANKLIN RESOURCES INC 354613101 7,084 73,750 0 0 73,750 03 73,750 0 0 Fred's Incorporated Class A Common 356108100 10,210 700,000 0 0 700,000 01 700,000 0 0 Freeport-McMoran Copper Com. USD0. 35671D857 736 20,000 0 0 20,000 01 20,000 0 0 Freeport-McMoran Copper Com. USD0. 35671D857 398 10,807 0 0 10,807 02 10,807 0 0 FREEPORT-MCMORAN COPPER 35671D857 16,803 456,732 0 0 456,732 03 456,732 0 0 FRONTIER COMMUNICATIONS CORP 35906A108 788 153,062 0 0 153,062 03 153,062 0 0 Fusion-Io Inc. Com. USD0.0002 36112J107 1,815 75,000 0 0 75,000 02 75,000 0 0 GAFISA SA-ADR 362607301 414 90,000 0 0 90,000 03 90,000 0 0 GAMESTOP CORP-CLASS A 36467W109 789 32,700 0 0 32,700 03 32,700 0 0 GANNETT CO 364730101 604 45,210 0 0 45,210 03 45,210 0 0 GAP INC/THE 364760108 3,336 179,850 0 0 179,850 03 179,850 0 0 GATX Corporation Common USD0.625 361448103 524 12,000 0 0 12,000 01 12,000 0 0 Gaylord Entmt. Company Class A USD 367905106 604 25,000 0 0 25,000 01 25,000 0 0 Gen-Probe Inc. Com. USD0.0001 36866T103 1,415 23,940 0 0 23,940 02 23,940 0 0 -------- 56,139

Form 13F Information Table GAM Holding Ltd. Page 19 of 47 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 DYNAMICS CORP 369550108 3,108 46,800 0 0 46,800 03 46,800 0 0 GENERAL ELECTRIC CO 369604103 32,571 1,818,600 0 0 1,818,600 03 1,818,600 0 0 General Electric Co. Com. USD0.06 369604103 10,810 603,389 0 0 603,389 01 603,389 0 0 General Electric Co. Com. USD0.06 369604103 61,122 3,411,919 0 0 3,411,919 02 3,411,919 0 0 GENERAL GROWTH PROPERTIES 370023103 2,244 149,378 0 0 149,378 03 149,378 0 0 GENERAL MILLS INC 370334104 2,772 68,600 0 0 68,600 03 68,600 0 0 General Mills Incorporated Com. US 370334104 12,468 308,500 0 0 308,500 02 308,500 0 0 GENERAL MOTORS CO 37045V100 341 16,800 0 0 16,800 03 16,800 0 0 General Motors Co. Com. USD0.01 37045V100 585 28,862 0 0 28,862 02 28,862 0 0 General Motors Cw16 Wts 10-07-2016 37045V118 2 131 0 0 131 02 131 0 0 General Motors Cw19 Wts. 10-07-201 37045V126 1 131 0 0 131 02 131 0 0 GENUINE PARTS CO 372460105 220 3,600 0 0 3,600 03 3,600 0 0 Genuine Parts Company Common USD1. 372460105 2,234 36,500 0 0 36,500 01 36,500 0 0 GENWORTH FINANCIAL INC-CL A 37247D106 58 8,800 0 0 8,800 03 8,800 0 0 Geo Group Inc./The Common USD0.01 36159R103 78 4,640 0 0 4,640 02 4,640 0 0 GERDAU SA -SPON ADR 373737105 976 125,000 0 0 125,000 03 125,000 0 0 GETTY REALTY CORP 374297109 92 6,630 0 0 6,630 03 6,630 0 0 Giant Interactive Group-Spon. ADR 374511103 816 200,000 0 0 200,000 01 200,000 0 0 GILEAD SCIENCES INC 375558103 9,777 238,870 0 0 238,870 03 238,870 0 0 Gilead Sciences Incorporated Commo 375558103 1,283 31,335 0 0 31,335 02 31,335 0 0 GLIMCHER REALTY TRUST 379302102 230 24,950 0 0 24,950 03 24,950 0 0 GNC Holdings Inc.-Cls A Com USD0.0 36191G107 1,105 38,180 0 0 38,180 02 38,180 0 0 GOLD FIELDS LTD-SPONS ADR 38059T106 4,281 280,700 0 0 280,700 03 280,700 0 0 Golden Minerals Co. Com. USD0.01 381119106 42 7,232 0 0 7,232 02 7,232 0 0 GOLDMAN SACHS GROUP INC 38141G104 7,180 79,400 0 0 79,400 03 79,400 0 0 -------- 154,394

Form 13F Information Table GAM Holding Ltd. Page 20 of 47 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 Goldman Sachs Group Inc. Com USD0. 38141G104 557 6,155 0 0 6,155 02 6,155 0 0 GOODRICH CORP 382388106 334 2,700 0 0 2,700 03 2,700 0 0 Goodrich Corp. Common USD5.00 382388106 247 2,000 0 0 2,000 01 2,000 0 0 GOODYEAR TIRE & RUBBER CO 382550101 353 24,900 0 0 24,900 03 24,900 0 0 GOOGLE INC-CL A 38259P508 43,140 66,790 0 0 66,790 03 66,790 0 0 Google Incorporated Com. Cl A USD0 38259P508 3,165 4,900 0 0 4,900 02 4,900 0 0 GOVERNMENT PROPERTIES INCOME 38376A103 177 7,870 0 0 7,870 03 7,870 0 0 GREEN MOUNTAIN COFFEE ROASTE 393122106 125 2,786 0 0 2,786 03 2,786 0 0 Green Mountain Coffee Rst. Com. US 393122106 1,500 33,453 0 0 33,453 02 33,453 0 0 Griffon Corporation Common USD0.25 398433102 593 65,000 0 0 65,000 01 65,000 0 0 Grupo Televisa SA-Sp ADR (1 Rep 5 40049J206 611 29,000 0 0 29,000 01 29,000 0 0 H&R BLOCK INC 093671105 100 6,100 0 0 6,100 03 6,100 0 0 HALLIBURTON CO 406216101 9,145 265,000 0 0 265,000 03 265,000 0 0 Hanesbrands Inc. Common USD0.01 410345102 987 45,131 0 0 45,131 02 45,131 0 0 HANSEN NATURAL CORP 411310105 1,880 20,400 0 0 20,400 03 20,400 0 0 HARLEY-DAVIDSON INC 412822108 1,951 50,200 0 0 50,200 03 50,200 0 0 HARMONY GOLD MNG-SPON ADR 413216300 2,256 193,850 0 0 193,850 03 193,850 0 0 HARRIS CORP 413875105 3,081 85,500 0 0 85,500 03 85,500 0 0 HARTFORD FINANCIAL SVCS GRP 416515104 901 55,440 0 0 55,440 03 55,440 0 0 HASBRO INC 418056107 83 2,600 0 0 2,600 03 2,600 0 0 HCA HOLDINGS INC 40412C101 90 4,100 0 0 4,100 03 4,100 0 0 HCP INC 40414L109 4,428 106,870 0 0 106,870 03 106,870 0 0 HDFC BANK LTD-ADR 40415F101 315 12,000 0 0 12,000 03 12,000 0 0 HEALTH CARE REIT INC 42217K106 4,215 77,300 0 0 77,300 03 77,300 0 0 HEALTH CARE SELECT SECTOR 81369Y209 347 10,000 0 0 10,000 03 10,000 0 0 -------- 80,582

Form 13F Information Table GAM Holding Ltd. Page 21 of 47 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 HEALTHCARE REALTY TRUST INC 421946104 353 19,000 0 0 19,000 03 19,000 0 0 HELMERICH & PAYNE 423452101 2,159 37,000 0 0 37,000 03 37,000 0 0 HENRY SCHEIN INC 806407102 103 1,600 0 0 1,600 03 1,600 0 0 HERSHEY CO/THE 427866108 210 3,400 0 0 3,400 03 3,400 0 0 HERTZ GLOBAL HOLDINGS INC 42805T105 60 5,100 0 0 5,100 03 5,100 0 0 HESS CORP 42809H107 4,322 76,100 0 0 76,100 03 76,100 0 0 Hess Corporation Common USD1.00 42809H107 284 5,000 0 0 5,000 01 5,000 0 0 HEWLETT-PACKARD CO 428236103 6,871 266,730 0 0 266,730 03 266,730 0 0 Hewlett Packard Co. Common USD0.01 428236103 6,748 261,898 0 0 261,898 01 261,898 0 0 Hewlett Packard Co. Common USD0.01 428236103 34,992 1,358,190 0 0 1,358,190 02 1,358,190 0 0 HIGHWOODS PROPERTIES INC 431284108 602 20,300 0 0 20,300 03 20,300 0 0 HJ HEINZ CO 423074103 979 18,120 0 0 18,120 03 18,120 0 0 HJ Heinz Co. Common USD0.25 423074103 12,408 229,600 0 0 229,600 02 229,600 0 0 HOLLYFRONTIER CORP 436106108 103 4,400 0 0 4,400 03 4,400 0 0 HOLOGIC INC 436440101 112 6,412 0 0 6,412 03 6,412 0 0 Hologic Inc. Common USD0.01 436440101 1,607 91,810 0 0 91,810 02 91,810 0 0 Hologic Inc. FRNT 2.000% 12/1 436440AB7 1,851 1,500,000 0 0 1,500,000 01 1,500,000 0 0 HOME DEPOT INC 437076102 9,018 214,505 0 0 214,505 03 214,505 0 0 Home Depot Incorporated Common USD 437076102 13,183 313,590 0 0 313,590 02 313,590 0 0 HOME INNS & HOTELS MANAG-ADR 43713W107 439 17,000 0 0 17,000 03 17,000 0 0 HOME PROPERTIES INC 437306103 725 12,600 0 0 12,600 03 12,600 0 0 HONEYWELL INTERNATIONAL INC 438516106 4,381 80,600 0 0 80,600 03 80,600 0 0 Honeywell Intl Inc Com USD1 438516106 435 8,000 0 0 8,000 01 8,000 0 0 HORMEL FOODS CORP 440452100 82 2,800 0 0 2,800 03 2,800 0 0 HOSPIRA INC 441060100 1,135 37,380 0 0 37,380 03 37,380 0 0 HOSPITALITY PROPERTIES TRUST 44106M102 724 31,510 0 0 31,510 03 31,510 0 0 -------- 103,887

Form 13F Information Table GAM Holding Ltd. Page 22 of 47 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 HOST HOTELS & RESORTS INC 44107P104 2,646 179,134 0 0 179,134 03 179,134 0 0 HUDSON CITY BANCORP INC 443683107 501 80,100 0 0 80,100 03 80,100 0 0 Human Genome Sciences Inc. Com. US 444903108 1,970 266,600 0 0 266,600 02 01 266,600 0 0 HUMANA INC 444859102 5,835 66,600 0 0 66,600 03 66,600 0 0 HUNT (JB) TRANSPRT SVCS INC 445658107 104 2,300 0 0 2,300 03 2,300 0 0 Hunt (JB) Transprt Svcs.Inc.Com. U 445658107 526 11,680 0 0 11,680 02 11,680 0 0 Huntsman Corporation Common USD0.0 447011107 7,254 725,000 0 0 725,000 01 725,000 0 0 IAC/InterActiveCorp Common USD0.01 44919P508 360 8,450 0 0 8,450 02 8,450 0 0 ICICI BANK LTD-SPON ADR 45104G104 444 16,800 0 0 16,800 03 16,800 0 0 ICU Medical Incorporated Common US 44930G107 6,754 150,000 0 0 150,000 01 150,000 0 0 IHS INC-CLASS A 451734107 69 800 0 0 800 03 800 0 0 ILLINOIS TOOL WORKS 452308109 2,770 59,300 0 0 59,300 03 59,300 0 0 ILLUMINA INC 452327109 76 2,500 0 0 2,500 03 2,500 0 0 INDIA FUND INC 454089103 17 870 0 0 870 03 870 0 0 INDUSTRIAL SELECT SECT SPDR 81369Y704 1,013 30,000 0 0 30,000 03 30,000 0 0 Infinity Property & Casualty Commo 45665Q103 7,093 125,000 0 0 125,000 01 125,000 0 0 INFOSYS LTD-SP ADR 456788108 1,729 33,657 0 0 33,657 03 33,657 0 0 INLAND REAL ESTATE CORP 457461200 129 16,900 0 0 16,900 03 16,900 0 0 INSULET CORP 45784P101 565 30,000 0 0 30,000 03 30,000 0 0 INTEGRYS ENERGY GROUP INC 45822P105 76 1,400 0 0 1,400 03 1,400 0 0 Intel Corp 2.95% Cv. 15-12-2035 458140AD2 174 166,000 0 0 166,000 02 166,000 0 0 Intel Corp 2.95% Cv. 15-12-2035 458140AD2 14,648 14,000,000 0 0 14,000,000 01 14,000,000 0 0 INTEL CORP 458140100 31,595 1,302,896 0 0 1,302,896 03 1,302,896 0 0 Intel Corp. Com. USD0.001 458140100 3,596 148,250 0 0 148,250 02 01 148,250 0 0 INTERCONTINENTALEXCHANGE INC 45865V100 1,398 11,600 0 0 11,600 03 11,600 0 0 INTERDIGITAL INC 45867G101 200 4,600 0 0 4,600 03 4,600 0 0 -------- 91,541

Form 13F Information Table GAM Holding Ltd. Page 23 of 47 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 Intermec Incorporated Common USD0. 458786100 96 14,000 0 0 14,000 01 14,000 0 0 Internap Network Services Common U 45885A300 119 20,000 0 0 20,000 01 20,000 0 0 INTERNATIONAL PAPER CO 460146103 2,341 79,100 0 0 79,100 03 79,100 0 0 INTERPUBLIC GROUP OF COS INC 460690100 85 8,700 0 0 8,700 03 8,700 0 0 INTL BUSINESS MACHINES CORP 459200101 52,424 285,100 0 0 285,100 03 285,100 0 0 INTL FLAVORS & FRAGRANCES 459506101 100 1,900 0 0 1,900 03 1,900 0 0 INTL GAME TECHNOLOGY 459902102 442 25,700 0 0 25,700 03 25,700 0 0 Intl. Business Machines Corp. Com 459200101 13,521 73,530 0 0 73,530 02 73,530 0 0 INTUIT INC 461202103 1,920 36,500 0 0 36,500 03 36,500 0 0 INTUITIVE SURGICAL INC 46120E602 6,033 13,029 0 0 13,029 03 13,029 0 0 Intuitive Surgical Inc. Com. USD0. 46120E602 1,313 2,835 0 0 2,835 02 2,835 0 0 Invensense Inc. Common USD0.001 46123D205 667 67,000 0 0 67,000 02 67,000 0 0 INVESTORS REAL ESTATE TRUST 461730103 146 20,000 0 0 20,000 03 20,000 0 0 IRON MOUNTAIN INC 462846106 585 19,000 0 0 19,000 03 19,000 0 0 ISHARES DJ US REAL ESTATE 464287739 2,840 50,000 0 0 50,000 03 50,000 0 0 ISHARES FTSE CHINA 25 INDEX 464287184 2,607 74,774 0 0 74,774 03 74,774 0 0 iShares iboxx High Yield Corp. Bon 464288513 94 1,048 0 0 1,048 02 1,048 0 0 Ishares Iboxx Inv Gr. Corp. Bd. 464287242 1,563 13,759 0 0 13,759 01 13,759 0 0 ISHARES MSCI AUSTRALIA INDEX 464286103 1,645 76,725 0 0 76,725 03 76,725 0 0 ISHARES MSCI BRAZIL 464286400 987 17,199 0 0 17,199 03 17,199 0 0 ISHARES MSCI EMERGING MKT IN 464287234 6,985 184,100 0 0 184,100 03 184,100 0 0 ISHARES MSCI HONG KONG INDEX 464286871 1,398 90,365 0 0 90,365 03 90,365 0 0 ISHARES MSCI INDONESIA INVES 46429B309 322 11,000 0 0 11,000 03 11,000 0 0 iShares MSCI Japan Index Fund USD 464286848 23,183 2,556,000 0 0 2,556,000 02 2,556,000 0 0 ISHARES MSCI MALAYSIA 464286830 27 2,003 0 0 2,003 03 2,003 0 0 -------- 121,442

Form 13F Information Table GAM Holding Ltd. Page 24 of 47 1 2 3 4 5 6 7 8 Mkt Value -- Investment Discretion -- --- Voting Authority ---- Name of Issuer Type CUSIP $ x1000 # Shares Sole Shared Other Managers Sole Shared None ISHARES MSCI MEXICO INVESTAB 464286822 451 8,388 0 0 8,388 03 8,388 0 0 ISHARES MSCI PACIFIC EX JPN 464286665 10,792 277,210 0 0 277,210 03 277,210 0 0 ISHARES MSCI SINGAPORE 464286673 54 5,000 0 0 5,000 03 5,000 0 0 ISHARES MSCI SOUTH AFRICA IN 464286780 24 400 0 0 400 03 400 0 0 ISHARES MSCI SOUTH KOREA IND 464286772 5,079 97,190 0 0 97,190 03 97,190 0 0 ISHARES MSCI TAIWAN INDEX FD 464286731 3,842 328,127 0 0 328,127 03 328,127 0 0 ISHARES NASDAQ BIOTECH INDX 464287556 1,670 16,000 0 0 16,000 03 16,000 0 0 ISHARES S&P 500 GROWTH INDEX 464287309 8,765 130,000 0 0 130,000 03 130,000 0 0 IShares S&P 500 Index Fund 464287200 568 4,512 0 0 4,512 01 4,512 0 0 IShares S&P 500 Index Fund 464287200 1,226 9,735 0 0 9,735 01 9,735 0 0 ISHARES S&P LATIN AMERICA 40 464287390 21 500 0 0 500 03 500 0 0 ITAU UNIBANCO HLDNG-PREF ADR 465562106 8,871 477,984 0 0 477,984 03 477,984 0 0 Itau Unibanco Holding Pref. ADR (1 465562106 742 40,000 0 0 40,000 01 40,000 0 0 Itron Incorporated Common NPV 465741106 10,996 307,400 0 0 307,400 01 307,400 0 0 Itron Incorporated Common NPV 465741106 469 13,100 0 0 13,100 02 13,100 0 0 ITT Corp-W/I Com. NPV 450911201 135 7,000 0 0 7,000 01 7,000 0 0 ITT EDUCATIONAL SERVICES INC 45068B109 188 3,300 0 0 3,300 03 3,300 0 0 J.C. PENNEY CO INC 708160106 1,206 34,300 0 0 34,300 03 34,300 0 0 J.P. Morgan Chase & Co. Com. USD1. 46625H100 316 9,500 0 0 9,500 01 9,500 0 0 J.P. Morgan Chase & Co. Com. USD1. 46625H100 644 19,371 0 0 19,371 02 19,371 0 0 JABIL CIRCUIT INC 466313103 590 30,000 0 0 30,000 03 30,000 0 0 Jabil Circuit Inc. Com. USD0.001 466313103 1,288 65,513 0 0 65,513 02 65,513 0 0 JACOBS ENGINEERING GROUP INC 469814107 2,301 56,695 0 0 56,695 03 56,695 0 0 JDS UNIPHASE CORP 46612J507 940 90,000 0 0 90,000 03 90,000 0 0 JDS Uniphase Corp. Common USD0.001 46612J507 670 64,138 0 0 64,138 02 64,138 0 0 -------- 61,847

Form 13F Information Table GAM Holding Ltd. Page 25 of 47 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 Jinkosolar Holding Company ADR(1 R 47759T100 1,156 231,166 0 0 231,166 01 231,166 0 0 Jinkosolar Holding Company ADR(1 R 47759T100 49 9,800 0 0 9,800 02 9,800 0 0 Jive Software Incorporated NPV 47760A108 1,797 112,500 0 0 112,500 02 112,500 0 0 JM SMUCKER CO/THE 832696405 180 2,302 0 0 2,302 03 2,302 0 0 Johnson & Johnson Common USD1.00 478160104 11,937 182,020 0 0 182,020 02 182,020 0 0 JOHNSON & JOHNSON 478160104 43,456 662,645 0 0 662,645 03 662,645 0 0 JOHNSON CONTROLS INC 478366107 8,950 286,300 0 0 286,300 03 286,300 0 0 Johnson Controls Inc. Common USD0. 478366107 11,122 355,800 0 0 355,800 01 355,800 0 0 Johnson Controls Inc. Common USD0. 478366107 1,284 41,080 0 0 41,080 02 41,080 0 0 JONES LANG LASALLE INC 48020Q107 2,282 37,250 0 0 37,250 03 37,250 0 0 JOY GLOBAL INC 481165108 1,357 18,100 0 0 18,100 03 18,100 0 0 JPMORGAN CHASE & CO 46625H100 34,319 1,032,150 0 0 1,032,150 03 1,032,150 0 0 JUNIPER NETWORKS INC 48203R104 2,482 121,600 0 0 121,600 03 121,600 0 0 Juniper Networks Inc. Common USD0. 48203R104 1,400 68,582 0 0 68,582 02 68,582 0 0 Kaman Corporation Common USD1.00 483548103 191 7,000 0 0 7,000 01 7,000 0 0 KANSAS CITY SOUTHERN 485170302 75 1,100 0 0 1,100 03 1,100 0 0 KBR INC 48242W106 1,165 41,800 0 0 41,800 03 41,800 0 0 KELLOGG CO 487836108 779 15,400 0 0 15,400 03 15,400 0 0 Kellogg Company Common USD0.25 487836108 10,737 212,320 0 0 212,320 02 212,320 0 0 KEYCORP 493267108 137 17,800 0 0 17,800 03 17,800 0 0 KILROY REALTY CORP 49427F108 596 15,660 0 0 15,660 03 15,660 0 0 KIMBERLY-CLARK CORP 494368103 3,052 41,490 0 0 41,490 03 41,490 0 0 Kimberly-Clark Corporation Com. US 494368103 12,363 168,070 0 0 168,070 02 168,070 0 0 KIMCO REALTY CORP 49446R109 1,655 101,900 0 0 101,900 03 101,900 0 0 KIRBY CORP 497266106 112 1,700 0 0 1,700 03 1,700 0 0 -------- 152,633

Form 13F Information Table GAM Holding Ltd. Page 26 of 47 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 Kit Digital Inc. Com. USD0.0001 482470200 665 78,700 0 0 78,700 02 78,700 0 0 KITE REALTY GROUP TRUST 49803T102 112 24,800 0 0 24,800 03 24,800 0 0 KLA-TENCOR CORPORATION 482480100 1,129 23,400 0 0 23,400 03 23,400 0 0 KOHLS CORP 500255104 6,978 141,400 0 0 141,400 03 141,400 0 0 KOREA ELEC POWER CORP-SP ADR 500631106 3,705 337,475 0 0 337,475 03 337,475 0 0 KRAFT FOODS INC-CLASS A 50075N104 12,507 334,759 0 0 334,759 03 334,759 0 0 KROGER CO 501044101 1,749 72,200 0 0 72,200 03 72,200 0 0 KT CORP-SP ADR 48268K101 4,845 309,770 0 0 309,770 03 309,770 0 0 L-3 COMMUNICATIONS HOLDINGS 502424104 8,162 122,400 0 0 122,400 03 122,400 0 0 LABORATORY CRP OF AMER HLDGS 50540R409 2,192 25,500 0 0 25,500 03 25,500 0 0 LAM RESEARCH CORP 512807108 100 2,700 0 0 2,700 03 2,700 0 0 LAN AIRLINES SA-SPON ADR 501723100 465 20,000 0 0 20,000 03 20,000 0 0 LAS VEGAS SANDS CORP 517834107 940 22,000 0 0 22,000 03 22,000 0 0 Las Vegas Sands Corp. Com. USD0.00 517834107 769 18,000 0 0 18,000 01 18,000 0 0 LASALLE HOTEL PROPERTIES 517942108 518 21,400 0 0 21,400 03 21,400 0 0 LEGG MASON INC 524901105 310 12,900 0 0 12,900 03 12,900 0 0 LEGGETT & PLATT INC 524660107 880 38,200 0 0 38,200 03 38,200 0 0 LENNAR CORP-A 526057104 590 30,000 0 0 30,000 03 30,000 0 0 Lennar Corporation Class A Com. US 526057104 3,107 158,060 0 0 158,060 02 01 158,060 0 0 LEUCADIA NATIONAL CORP 527288104 93 4,100 0 0 4,100 03 4,100 0 0 LEXINGTON REALTY TRUST 529043101 259 34,521 0 0 34,521 03 34,521 0 0 LIBERTY GLOBAL INC-A 530555101 94 2,300 0 0 2,300 03 2,300 0 0 LIBERTY GLOBAL INC-SERIES C 530555309 79 2,000 0 0 2,000 03 2,000 0 0 Liberty Global Inc. Class A Com. U 530555101 656 16,000 0 0 16,000 01 16,000 0 0 LIBERTY INTERACTIVE CORP-A 53071M104 206 12,700 0 0 12,700 03 12,700 0 0 -------- 51,109

Form 13F Information Table GAM Holding Ltd. Page 27 of 47 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 Liberty Media Corp - Liberty-A Com 530322106 381 4,881 0 0 4,881 01 4,881 0 0 LIBERTY PROPERTY TRUST 531172104 970 31,400 0 0 31,400 03 31,400 0 0 LIFE TECHNOLOGIES CORP 53217V109 344 8,839 0 0 8,839 03 8,839 0 0 LIMITED BRANDS INC 532716107 3,450 85,500 0 0 85,500 03 85,500 0 0 LINCOLN NATIONAL CORP 534187109 122 6,300 0 0 6,300 03 6,300 0 0 LINEAR TECHNOLOGY CORP 535678106 2,210 73,600 0 0 73,600 03 73,600 0 0 Linkedin Corp. A Com. USD0.0001 53578A108 813 12,910 0 0 12,910 02 12,910 0 0 Liz Claiborne Inc. Com. USD1.00 539320101 921 106,768 0 0 106,768 02 106,768 0 0 LKQ CORP 501889208 3,689 122,624 0 0 122,624 03 122,624 0 0 LOCKHEED MARTIN CORP 539830109 4,077 50,400 0 0 50,400 03 50,400 0 0 Lockheed Martin Corporation Com. U 539830109 10,212 126,230 0 0 126,230 02 126,230 0 0 LOEWS CORP 540424108 271 7,199 0 0 7,199 03 7,199 0 0 LORILLARD INC 544147101 2,517 22,080 0 0 22,080 03 22,080 0 0 LOWE'S COS INC 548661107 3,680 145,000 0 0 145,000 03 145,000 0 0 LSB INDUSTRIES INC 502160104 1,822 65,000 0 0 65,000 03 65,000 0 0 LSI CORP 502161102 70 11,800 0 0 11,800 03 11,800 0 0 LTC PROPERTIES INC 502175102 176 5,700 0 0 5,700 03 5,700 0 0 LULULEMON ATHLETICA INC 550021109 93 2,000 0 0 2,000 03 2,000 0 0 M & T BANK CORP 55261F104 176 2,300 0 0 2,300 03 2,300 0 0 MACERICH CO/THE 554382101 1,807 35,705 0 0 35,705 03 35,705 0 0 MACK-CALI REALTY CORP 554489104 615 23,060 0 0 23,060 03 23,060 0 0 MACY'S INC 55616P104 943 29,300 0 0 29,300 03 29,300 0 0 Madison Square Garden Co. A NPV 55826P100 401 14,000 0 0 14,000 01 14,000 0 0 MANPOWER INC 56418H100 61 1,700 0 0 1,700 03 1,700 0 0 MARATHON OIL CORP 565849106 3,928 134,190 0 0 134,190 03 134,190 0 0 -------- 43,749

Form 13F Information Table GAM Holding Ltd. Page 28 of 47 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 MARATHON PETROLEUM CORP 56585A102 7,768 233,350 0 0 233,350 03 233,350 0 0 MARKET VECTORS BRAZIL SM-CAP 57060U613 15 415 0 0 415 03 415 0 0 MARKET VECTORS GOLD MINERS 57060U100 2,572 50,000 0 0 50,000 03 50,000 0 0 MARKET VECTORS INDONESIA IND 57060U753 55 1,928 0 0 1,928 03 1,928 0 0 MARKET VECTORS RUSSIA ETF 57060U506 11 429 0 0 429 03 429 0 0 MARRIOTT INTERNATIONAL-CL A 571903202 757 25,962 0 0 25,962 03 25,962 0 0 MARRIOTT VACATIONS WORLD 57164Y107 69 4,044 0 0 4,044 03 4,044 0 0 MARSH & MCLENNAN COS 571748102 2,590 81,900 0 0 81,900 03 81,900 0 0 MARTIN MARIETTA MATERIALS 573284106 68 900 0 0 900 03 900 0 0 MARVELL TECHNOLOGY GROUP LTD G5876H105 1,253 90,500 0 0 90,500 03 90,500 0 0 MASCO CORP 574599106 512 48,900 0 0 48,900 03 48,900 0 0 MASTERCARD INC-CLASS A 57636Q104 4,205 11,280 0 0 11,280 03 11,280 0 0 Materion Corp. Common NPV 576690101 243 10,000 0 0 10,000 01 10,000 0 0 MATTEL INC 577081102 2,340 84,300 0 0 84,300 03 84,300 0 0 MAXIM INTEGRATED PRODUCTS 57772K101 177 6,800 0 0 6,800 03 6,800 0 0 MCCORMICK & CO-NON VTG SHRS 579780206 131 2,600 0 0 2,600 03 2,600 0 0 MCDONALD'S CORP 580135101 34,724 346,100 0 0 346,100 03 346,100 0 0 MCGRAW-HILL COMPANIES INC 580645109 283 6,300 0 0 6,300 03 6,300 0 0 McGraw-Hill Companies Inc. Common 580645109 12,818 285,060 0 0 285,060 02 285,060 0 0 MCKESSON CORP 58155Q103 1,987 25,500 0 0 25,500 03 25,500 0 0 MDU RESOURCES GROUP INC 552690109 94 4,400 0 0 4,400 03 4,400 0 0 MEAD JOHNSON NUTRITION CO 582839106 2,079 30,250 0 0 30,250 03 30,250 0 0 Mead Johnson Nutrition Co. Com. US 582839106 481 7,000 0 0 7,000 01 7,000 0 0 MEADWESTVACO CORP 583334107 96 3,200 0 0 3,200 03 3,200 0 0 MECHEL-SPONSORED ADR 583840103 187 22,000 0 0 22,000 03 22,000 0 0 -------- 75,517

Form 13F Information Table GAM Holding Ltd. Page 29 of 47 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 MEDCO HEALTH SOLUTIONS INC 58405U102 4,232 75,700 0 0 75,700 03 75,700 0 0 Media General Inc. Cls. A Common U 584404107 53 13,000 0 0 13,000 01 13,000 0 0 MEDICAL PROPERTIES TRUST INC 58463J304 302 30,590 0 0 30,590 03 30,590 0 0 MEDTRONIC INC 585055106 8,854 231,480 0 0 231,480 03 231,480 0 0 Medtronic Incorporated Common USD0 585055106 13,102 342,570 0 0 342,570 02 342,570 0 0 Medtronic Inc Note 1.625% 4/1 585055AM8 997 987,000 0 0 987,000 01 987,000 0 0 MERCK & CO. INC. 58933Y105 30,734 815,231 0 0 815,231 03 815,231 0 0 Meritor Inc. Common USD1.00 59001K100 260 48,901 0 0 48,901 02 48,901 0 0 Methanex Corporation Common NPV 59151K108 431 18,902 0 0 18,902 02 18,902 0 0 METLIFE INC 59156R108 4,322 138,600 0 0 138,600 03 138,600 0 0 METROPCS COMMUNICATIONS INC 591708102 37 4,300 0 0 4,300 03 4,300 0 0 MGM RESORTS INTERNATIONAL 552953101 72 6,900 0 0 6,900 03 6,900 0 0 MICROCHIP TECHNOLOGY INC 595017104 165 4,500 0 0 4,500 03 4,500 0 0 MICRON TECHNOLOGY INC 595112103 408 64,900 0 0 64,900 03 64,900 0 0 MICROS SYSTEMS INC 594901100 1,397 30,000 0 0 30,000 03 30,000 0 0 MICROSOFT CORP 594918104 50,627 1,950,185 0 0 1,950,185 03 1,950,185 0 0 Microsoft Corporation Com. USD0.00 594918104 2,077 80,000 0 0 80,000 02 80,000 0 0 MID-AMERICA APARTMENT COMM 59522J103 619 9,900 0 0 9,900 03 9,900 0 0 Midas Inc. Com. USD0.001 595626102 17 2,000 0 0 2,000 01 2,000 0 0 Millicom Intl Cellular SA Com. USD L6388F110 808 8,000 0 0 8,000 01 8,000 0 0 MINDRAY MEDICAL INTL LTD-ADR 602675100 1,000 39,000 0 0 39,000 03 39,000 0 0 MOBILE TELESYSTEMS-SP ADR 607409109 3,152 214,740 0 0 214,740 03 214,740 0 0 Modine Manufacturing Co. Common US 607828100 1,013 107,095 0 0 107,095 02 107,095 0 0 MOHAWK INDUSTRIES INC 608190104 60 1,000 0 0 1,000 03 1,000 0 0 MOLEX INC 608554101 1,183 49,575 0 0 49,575 03 49,575 0 0 MOLSON COORS BREWING CO -B 60871R209 157 3,600 0 0 3,600 03 3,600 0 0 Molson Coors Brewing Co Note 2.500% 60871RAA8 528 500,000 0 0 500,000 01 500,000 0 0 -------- 126,607

Form 13F Information Table GAM Holding Ltd. Page 30 of 47 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 Molycorp Inc. Common NPV 608753109 24 1,000 0 0 1,000 01 1,000 0 0 Molycorp Inc. Common NPV 608753109 582 24,275 0 0 24,275 02 24,275 0 0 Moneygram International Inc. Com. 60935Y208 93 5,250 0 0 5,250 01 5,250 0 0 MONSANTO CO 61166W101 5,529 78,900 0 0 78,900 03 78,900 0 0 Monsanto Company Common USD0.01 61166W101 359 5,116 0 0 5,116 01 5,116 0 0 MOODY'S CORP 615369105 158 4,700 0 0 4,700 03 4,700 0 0 Morgan Stanley Common USD0.01 617446448 136 9,000 0 0 9,000 01 9,000 0 0 MORGAN STANLEY INDIA INVEST 61745C105 434 31,000 0 0 31,000 03 31,000 0 0 MORGAN STANLEY 617446448 2,950 195,000 0 0 195,000 03 195,000 0 0 Motorola Mobility Holdings I Commo 620097105 5,820 150,000 0 0 150,000 01 150,000 0 0 MOTOROLA MOBILITY HOLDINGS I 620097105 241 6,212 0 0 6,212 03 6,212 0 0 MOTOROLA SOLUTIONS INC 620076307 1,306 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 396 7,098 0 0 7,098 03 7,098 0 0 MYLAN INC 628530107 215 10,000 0 0 10,000 03 10,000 0 0 NABORS INDUSTRIES LTD G6359F103 2,372 136,800 0 0 136,800 03 136,800 0 0 NASDAQ OMX GROUP/THE 631103108 2,757 112,500 0 0 112,500 03 112,500 0 0 National Fuel Gas Co. Com. USD1.00 636180101 1,834 33,000 0 0 33,000 01 33,000 0 0 NATIONAL OILWELL VARCO INC 637071101 5,905 86,844 0 0 86,844 03 86,844 0 0 NATIONAL RETAIL PROPERTIES 637417106 536 20,300 0 0 20,300 03 20,300 0 0 NATL HEALTH INVESTORS INC 63633D104 334 7,600 0 0 7,600 03 7,600 0 0 Navistar Intl. Corporation Com. US 63934E108 606 16,000 0 0 16,000 01 16,000 0 0 Navistar Intl. Corporation Com. US 63934E108 250 6,596 0 0 6,596 02 6,596 0 0 NETAPP INC 64110D104 3,130 86,300 0 0 86,300 03 86,300 0 0 Netapp Inc. Common USD0.001 64110D104 580 16,000 0 0 16,000 02 16,000 0 0 -------- 36,605

Form 13F Information Table GAM Holding Ltd. Page 31 of 47 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 408 9,100 0 0 9,100 03 9,100 0 0 NETFLIX INC 64110L106 69 1,000 0 0 1,000 03 1,000 0 0 NetFlix Inc. Common USD0.001 64110L106 416 6,000 0 0 6,000 02 6,000 0 0 Nevsun Resources Ltd. NPV 64156L101 276 50,000 0 0 50,000 01 50,000 0 0 NEW YORK COMMUNITY BANCORP 649445103 103 8,300 0 0 8,300 03 8,300 0 0 NEW YORK TIMES CO-A 650111107 506 65,430 0 0 65,430 03 65,430 0 0 NEWELL RUBBERMAID INC 651229106 92 5,700 0 0 5,700 03 5,700 0 0 NEWFIELD EXPLORATION CO 651290108 113 3,000 0 0 3,000 03 3,000 0 0 NEWMONT MINING CORP 651639106 28,831 480,442 0 0 480,442 03 480,442 0 0 Newmont Mining Corporation Com. US 651639106 2,010 33,500 0 0 33,500 01 33,500 0 0 NEWS CORP-B 65248E203 182 10,000 0 0 10,000 03 10,000 0 0 NEWS CORP-CL A 65248E104 2,730 153,000 0 0 153,000 03 153,000 0 0 News Corp-Class B Com. USD0.01 65248E203 5,143 282,919 0 0 282,919 02 01 282,919 0 0 News Corporation Inc. Cls A Com. U 65248E104 232 13,000 0 0 13,000 01 13,000 0 0 NEXTERA ENERGY INC 65339F101 10,484 172,200 0 0 172,200 03 172,200 0 0 NII HOLDINGS INC 62913F201 83 3,900 0 0 3,900 03 3,900 0 0 NII Holdings Inc. Common USD.001 62913F201 469 22,000 0 0 22,000 01 22,000 0 0 NIKE INC -CL B 654106103 8,702 90,300 0 0 90,300 03 90,300 0 0 NISOURCE INC 65473P105 150 6,300 0 0 6,300 03 6,300 0 0 Nobility Homes Inc. Common USD0.10 654892108 13 2,400 0 0 2,400 01 2,400 0 0 NOBLE ENERGY INC 655044105 349 3,700 0 0 3,700 03 3,700 0 0 NORDSTROM INC 655664100 6,920 139,200 0 0 139,200 03 139,200 0 0 NORFOLK SOUTHERN CORP 655844108 8,692 119,300 0 0 119,300 03 119,300 0 0 NORTEL NETWORKS CORP 656568508 0 190 0 0 190 03 190 0 0 NORTHEAST UTILITIES 664397106 133 3,700 0 0 3,700 03 3,700 0 0 -------- 77,106

Form 13F Information Table GAM Holding Ltd. Page 32 of 47 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 NORTHERN TRUST CORP 665859104 2,586 65,200 0 0 65,200 03 65,200 0 0 Northern Trust Corp. Com. USD1.667 665859104 674 17,000 0 0 17,000 01 17,000 0 0 NORTHROP GRUMMAN CORP 666807102 357 6,100 0 0 6,100 03 6,100 0 0 Nova Measuring Instruments Common M7516K103 841 114,200 0 0 114,200 02 114,200 0 0 NOVELLUS SYSTEMS INC 670008101 413 10,000 0 0 10,000 03 10,000 0 0 NRG ENERGY INC 629377508 105 5,800 0 0 5,800 03 5,800 0 0 NSTAR 67019E107 103 2,200 0 0 2,200 03 2,200 0 0 NUANCE COMMUNICATIONS INC 67020Y100 216 8,600 0 0 8,600 03 8,600 0 0 NUCOR CORP 670346105 1,072 27,100 0 0 27,100 03 27,100 0 0 NVIDIA CORP 67066G104 1,014 73,150 0 0 73,150 03 73,150 0 0 NYSE EURONEXT 629491101 1,182 45,300 0 0 45,300 03 45,300 0 0 O'REILLY AUTOMOTIVE INC 67103H107 240 3,000 0 0 3,000 03 3,000 0 0 O'Reilly Automotive Inc. Com. USD0 67103H107 216 2,700 0 0 2,700 01 2,700 0 0 OCCIDENTAL PETROLEUM CORP 674599105 23,444 250,200 0 0 250,200 03 250,200 0 0 OIL STATES INTERNATIONAL INC 678026105 832 10,900 0 0 10,900 03 10,900 0 0 OMEGA HEALTHCARE INVESTORS 681936100 493 25,500 0 0 25,500 03 25,500 0 0 OMNICARE INC 681904108 86 2,500 0 0 2,500 03 2,500 0 0 OMNICOM GROUP 681919106 3,375 75,700 0 0 75,700 03 75,700 0 0 OMNIVISION TECHNOLOGIES INC 682128103 220 18,000 0 0 18,000 03 18,000 0 0 On Semiconductor Corp. Com. USD0.0 682189105 1,110 143,750 0 0 143,750 01 143,750 0 0 ONEOK INC 682680103 217 2,500 0 0 2,500 03 2,500 0 0 ORACLE CORP 68389X105 36,541 1,424,600 0 0 1,424,600 03 1,424,600 0 0 Oracle Corporation Common USD0.01 68389X105 1,413 55,085 0 0 55,085 02 55,085 0 0 OWENS-ILLINOIS INC 690768403 252 13,000 0 0 13,000 03 13,000 0 0 Owens Corning Com. USD0.001 690742101 10,977 382,200 0 0 382,200 01 382,200 0 0 -------- 87,980

Form 13F Information Table GAM Holding Ltd. Page 33 of 47 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 Owens Corning Com. USD0.001 69331C108 8,487 205,900 0 0 205,900 03 205,900 0 0 PACCAR INC 693718108 1,406 37,525 0 0 37,525 03 37,525 0 0 PALL CORP 696429307 154 2,700 0 0 2,700 03 2,700 0 0 PARKER HANNIFIN CORP 701094104 6,035 79,150 0 0 79,150 03 79,150 0 0 PARKWAY PROPERTIES INC 70159Q104 53 5,400 0 0 5,400 03 5,400 0 0 PATTERSON COS INC 703395103 6,270 212,400 0 0 212,400 03 212,400 0 0 PAYCHEX INC 704326107 217 7,200 0 0 7,200 03 7,200 0 0 Paychex Inc. Common USD0.01 704326107 12,675 420,940 0 0 420,940 02 420,940 0 0 PEABODY ENERGY CORP 704549104 4,202 126,913 0 0 126,913 03 126,913 0 0 Peets Coffee & Tea Inc. Common NPV 705560100 314 5,000 0 0 5,000 01 5,000 0 0 PENN REAL ESTATE INVEST TST 709102107 7 700 0 0 700 03 700 0 0 Penske Auto Group Inc. Common USD0 70959W103 7,698 400,000 0 0 400,000 01 400,000 0 0 PENTAIR INC 709631105 3,715 111,600 0 0 111,600 03 111,600 0 0 PEOPLE'S UNITED FINANCIAL 712704105 100 7,800 0 0 7,800 03 7,800 0 0 Pep Boys-Manny Moe & Jack Com. USD 713278109 82 7,500 0 0 7,500 01 7,500 0 0 PEPCO HOLDINGS INC 713291102 104 5,100 0 0 5,100 03 5,100 0 0 PEPSICO INC 713448108 30,836 464,748 0 0 464,748 03 464,748 0 0 PepsiCo Incorporated Com. USD0.017 713448108 4,375 65,940 0 0 65,940 02 01 65,940 0 0 PepsiCo Incorporated Com. USD0.017 713448108 12,472 187,980 0 0 187,980 02 187,980 0 0 PERFECT WORLD CO-SPON ADR 71372U104 419 40,000 0 0 40,000 03 40,000 0 0 PERKINELMER INC 714046109 800 40,000 0 0 40,000 03 40,000 0 0 PERRIGO CO 714290103 175 1,800 0 0 1,800 03 1,800 0 0 PETROCHINA CO LTD -ADR 71646E100 323 2,600 0 0 2,600 03 2,600 0 0 PETROLEO BRASILEIRO-SPON ADR 71654V101 7,628 324,745 0 0 324,745 03 324,745 0 0 -------- 109,450

Form 13F Information Table GAM Holding Ltd. Page 34 of 47 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 Petroleo Brasileiro ADR (1 Rep. 2 71654V101 2,350 100,000 0 0 100,000 01 100,000 0 0 PETROLEO BRASILEIRO S.A.-ADR 71654V408 6,782 272,900 0 0 272,900 03 272,900 0 0 PETSMART INC 716768106 3,313 64,600 0 0 64,600 03 64,600 0 0 PFIZER INC 717081103 34,291 1,584,617 0 0 1,584,617 03 1,584,617 0 0 Pfizer Incorporated Common USD0.05 717081103 29,623 1,368,272 0 0 1,368,272 01 1,368,272 0 0 Pfizer Incorporated Common USD0.05 717081103 4,850 224,040 0 0 224,040 02 01 224,040 0 0 Pfizer Incorporated Common USD0.05 717081103 108,118 4,994,328 0 0 4,994,328 02 4,994,328 0 0 PHARMASSET INC 71715N106 77 600 0 0 600 03 600 0 0 PHILIP MORRIS INTERNATIONAL 718172109 33,346 424,900 0 0 424,900 03 424,900 0 0 PIEDMONT OFFICE REALTY TRU-A 720190206 780 45,800 0 0 45,800 03 45,800 0 0 PINNACLE WEST CAPITAL 723484101 111 2,300 0 0 2,300 03 2,300 0 0 PIONEER NATURAL RESOURCES CO 723787107 644 7,200 0 0 7,200 03 7,200 0 0 Pioneer Natural Resources Com. USD 723787107 615 6,868 0 0 6,868 02 6,868 0 0 PIPER JAFFRAY COS 724078100 0 8 0 0 8 03 8 0 0 PITNEY BOWES INC 724479100 72 3,900 0 0 3,900 03 3,900 0 0 PLAINS EXPLORATION & PRODUCT 726505100 118 3,200 0 0 3,200 03 3,200 0 0 PLUM CREEK TIMBER CO 729251108 4,164 113,900 0 0 113,900 03 113,900 0 0 PNC FINANCIAL SERVICES GROUP 693475105 3,540 61,386 0 0 61,386 03 61,386 0 0 PNC Financial Services Grp. Com. U 693475105 577 10,000 0 0 10,000 01 10,000 0 0 POLYCOM INC 73172K104 1,863 114,306 0 0 114,306 03 114,306 0 0 POSCO-ADR 693483109 369 4,500 0 0 4,500 03 4,500 0 0 POST PROPERTIES INC 737464107 603 13,800 0 0 13,800 03 13,800 0 0 Power-One Inc.Com USD0.001 73930R102 4,491 1,150,000 0 0 1,150,000 01 1,150,000 0 0 POWERSHARES DB COMMODITY IND 73935S105 1,342 50,000 0 0 50,000 03 50,000 0 0 POWERSHARES QQQ NASDAQ 100 73935A104 3,071 55,000 0 0 55,000 03 55,000 0 0 -------- 245,110

Form 13F Information Table GAM Holding Ltd. Page 35 of 47 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 PPG INDUSTRIES INC 693506107 276 3,300 0 0 3,300 03 3,300 0 0 PPL CORPORATION 69351T106 1,995 67,815 0 0 67,815 03 67,815 0 0 PRAXAIR INC 74005P104 3,367 31,500 0 0 31,500 03 31,500 0 0 PRECISION CASTPARTS CORP 740189105 717 4,353 0 0 4,353 03 4,353 0 0 PRICELINE.COM INC 741503403 1,847 3,950 0 0 3,950 03 3,950 0 0 PRINCIPAL FINANCIAL GROUP 74251V102 157 6,400 0 0 6,400 03 6,400 0 0 PROCTER & GAMBLE CO/THE 742718109 38,464 576,587 0 0 576,587 03 576,587 0 0 Procter & Gamble Company Common US 742718109 12,549 188,110 0 0 188,110 02 188,110 0 0 PROGRESS ENERGY INC 743263105 359 6,400 0 0 6,400 03 6,400 0 0 PROGRESSIVE CORP 743315103 1,430 73,300 0 0 73,300 03 73,300 0 0 PROLOGIS INC 74340W103 4,491 157,081 0 0 157,081 03 157,081 0 0 Prologis Inc. Common USD0.01 74340W103 11,431 399,818 0 0 399,818 01 399,818 0 0 Prologis Inc. Common USD0.01 74340W103 490 17,140 0 0 17,140 02 17,140 0 0 PRUDENTIAL FINANCIAL INC 744320102 10,199 203,500 0 0 203,500 03 203,500 0 0 PS BUSINESS PARKS INC/CA 69360J107 279 5,040 0 0 5,040 03 5,040 0 0 PUBLIC SERVICE ENTERPRISE GP 744573106 1,350 40,900 0 0 40,900 03 40,900 0 0 PUBLIC STORAGE 74460D109 5,190 38,600 0 0 38,600 03 38,600 0 0 Pulte Group Inc. Common USD0.01 745867101 693 109,970 0 0 109,970 02 109,970 0 0 PULTEGROUP INC 745867101 1,262 200,000 0 0 200,000 03 200,000 0 0 QEP RESOURCES INC 74733V100 117 4,000 0 0 4,000 03 4,000 0 0 QUALCOMM INC 747525103 31,091 568,400 0 0 568,400 03 568,400 0 0 Qualcomm Inc. Com. USD0.0001 747525103 766 14,000 0 0 14,000 02 14,000 0 0 QUALITY SYSTEMS INC 747582104 1,891 51,115 0 0 51,115 03 51,115 0 0 QUANTA SERVICES INC 74762E102 2,359 109,500 0 0 109,500 03 109,500 0 0 Quanta Services Inc. Common USD0.0 74762E102 4,307 200,000 0 0 200,000 01 200,000 0 0 -------- 137,079

Form 13F Information Table GAM Holding Ltd. Page 36 of 47 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 QUEST DIAGNOSTICS INC 74834L100 1,841 31,700 0 0 31,700 03 31,700 0 0 QUIMICA Y MINERA CHIL-SP ADR 833635105 964 17,900 0 0 17,900 03 17,900 0 0 R.R. Donnelley & Sons Co. Comm. US 257867101 2,887 200,000 0 0 200,000 01 200,000 0 0 RALCORP HOLDINGS INC 751028101 94 1,100 0 0 1,100 03 1,100 0 0 Ralcorp Holdings Inc. Common USD0. 751028101 214 2,500 0 0 2,500 01 2,500 0 0 RALPH LAUREN CORP 751212101 1,160 8,400 0 0 8,400 03 8,400 0 0 RAMCO-GERSHENSON PROPERTIES 751452202 120 12,180 0 0 12,180 03 12,180 0 0 RANGE RESOURCES CORP 75281A109 2,063 33,300 0 0 33,300 03 33,300 0 0 RAYONIER INC 754907103 107 2,400 0 0 2,400 03 2,400 0 0 RAYTHEON COMPANY 755111507 1,829 37,800 0 0 37,800 03 37,800 0 0 REALTY INCOME CORP 756109104 1,119 32,000 0 0 32,000 03 32,000 0 0 RED HAT INC 756577102 1,404 34,000 0 0 34,000 03 34,000 0 0 REGENCY CENTERS CORP 758849103 963 25,600 0 0 25,600 03 25,600 0 0 REGENERON PHARMACEUTICALS 75886F107 100 1,800 0 0 1,800 03 1,800 0 0 REGIONS FINANCIAL CORP 7591EP100 610 141,953 0 0 141,953 03 141,953 0 0 REGIS CORP 758932107 712 43,040 0 0 43,040 03 43,040 0 0 Rent-A-Center Inc. Common USD0.01 76009N100 577 15,600 0 0 15,600 02 15,600 0 0 REPUBLIC SERVICES INC 760759100 737 26,735 0 0 26,735 03 26,735 0 0 Republic Services Inc. Common USD0 760759100 303 11,000 0 0 11,000 01 11,000 0 0 Retalix Limited ILS1.00 M8215W109 469 29,021 0 0 29,021 01 29,021 0 0 REYNOLDS AMERICAN INC 761713106 2,365 57,100 0 0 57,100 03 57,100 0 0 Riverbed Technology Inc. Com. USD0 768573107 486 20,700 0 0 20,700 02 20,700 0 0 ROBERT HALF INTL INC 770323103 2,092 73,500 0 0 73,500 03 73,500 0 0 ROCK-TENN COMPANY -CL A 772739207 75 1,300 0 0 1,300 03 1,300 0 0 ROCKWELL AUTOMATION INC 773903109 822 11,200 0 0 11,200 03 11,200 0 0 -------- 24,111

Form 13F Information Table GAM Holding Ltd. Page 37 of 47 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 Rockwell Automation Inc. Common US 773903109 29 400 0 0 400 01 400 0 0 ROCKWELL COLLINS INC 774341101 177 3,200 0 0 3,200 03 3,200 0 0 ROPER INDUSTRIES INC 776696106 1,798 20,700 0 0 20,700 03 20,700 0 0 Rosetta Resources Inc. Common USD0 777779307 422 9,710 0 0 9,710 02 9,710 0 0 ROSS STORES INC 778296103 9,634 202,700 0 0 202,700 03 202,700 0 0 Ross Stores Incorporated Common US 778296103 463 9,750 0 0 9,750 02 9,750 0 0 Rovi Corp. Com. USD0.001 779376102 3 107 0 0 107 01 107 0 0 Rovi Corp. Com. USD0.001 779376102 794 32,320 0 0 32,320 02 32,320 0 0 ROWAN COMPANIES INC 779382100 1,198 39,500 0 0 39,500 03 39,500 0 0 Royal Bk. of Scot. Grp. 6.4% Pfd. 780097796 168 14,800 0 0 14,800 02 14,800 0 0 Royal Bk. of Scotland 7.25% Pfd. P 780097713 128 10,000 0 0 10,000 02 10,000 0 0 ROYAL GOLD INC 780287108 1,241 18,410 0 0 18,410 03 18,410 0 0 RR DONNELLEY & SONS CO 257867101 75 5,200 0 0 5,200 03 5,200 0 0 RUBICON TECHNOLOGY INC 78112T107 282 30,000 0 0 30,000 03 30,000 0 0 Rubicon Technology Inc. Com. USD0. 78112T107 4,393 467,800 0 0 467,800 01 467,800 0 0 Rubicon Technology Inc. Com. USD0. 78112T107 191 20,300 0 0 20,300 02 20,300 0 0 RYDER SYSTEM INC 783549108 531 10,000 0 0 10,000 03 10,000 0 0 RYDEX S&P EQUAL WEIGHT ETF 78355W106 2,684 58,000 0 0 58,000 03 58,000 0 0 SAFEWAY INC 786514208 2,469 117,345 0 0 117,345 03 117,345 0 0 SAIC INC 78390X101 86 7,000 0 0 7,000 03 7,000 0 0 SALESFORCE.COM INC 79466L302 1,491 14,700 0 0 14,700 03 14,700 0 0 Salesforce.com Inc. Common USD0.00 79466L302 520 5,130 0 0 5,130 02 5,130 0 0 SANDISK CORP 80004C101 3,715 75,500 0 0 75,500 03 75,500 0 0 Sandisk Corporation 1.5% Cv. 15-08 80004CAD3 282 240,000 0 0 240,000 02 240,000 0 0 SanDisk Corporation Common USD0.00 80004C101 1,156 23,500 0 0 23,500 02 23,500 0 0 -------- 33,933

Form 13F Information Table GAM Holding Ltd. Page 38 of 47 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 Sanofi CVR NPV 31-12-2020 80105N113 36 30,000 0 0 30,000 01 30,000 0 0 Sapient Corporation Common USD0.01 803062108 653 51,810 0 0 51,810 02 51,810 0 0 SARA LEE CORP 803111103 2,698 142,600 0 0 142,600 03 142,600 0 0 Sara Lee Corporation Common USD0.0 803111103 14,855 785,156 0 0 785,156 01 785,156 0 0 Sara Lee Corporation Common USD0.0 803111103 65,005 3,435,798 0 0 3,435,798 02 3,435,798 0 0 Sara Lee Corporation Common USD0.0 803111103 1,041 55,000 0 0 55,000 01 55,000 0 0 SAUL CENTERS INC 804395101 138 3,900 0 0 3,900 03 3,900 0 0 SBA COMMUNICATIONS CORP-CL A 78388J106 120 2,800 0 0 2,800 03 2,800 0 0 SCANA CORP 80589M102 113 2,500 0 0 2,500 03 2,500 0 0 SCHLUMBERGER LTD 806857108 15,412 225,613 0 0 225,613 03 225,613 0 0 SCHWAB (CHARLES) CORP 808513105 1,262 112,100 0 0 112,100 03 112,100 0 0 Scripps Networks Inter-Cl A Com. U 811065101 85 2,000 0 0 2,000 01 2,000 0 0 SCRIPPS NETWORKS INTER-CL A 811065101 81 1,900 0 0 1,900 03 1,900 0 0 Seagate Technology Common USD0.000 G7945M107 1,774 108,200 0 0 108,200 02 108,200 0 0 SEAGATE TECHNOLOGY G7945M107 141 8,600 0 0 8,600 03 8,600 0 0 SEALED AIR CORP 81211K100 57 3,300 0 0 3,300 03 3,300 0 0 SEARS HOLDINGS CORP 812350106 29 900 0 0 900 03 900 0 0 SEI INVESTMENTS COMPANY 784117103 66 3,800 0 0 3,800 03 3,800 0 0 SEMPRA ENERGY 816851109 2,096 38,100 0 0 38,100 03 38,100 0 0 SENIOR HOUSING PROP TRUST 81721M109 898 40,020 0 0 40,020 03 40,020 0 0 Sensient Technologies Corp. Com. U 81725T100 379 10,000 0 0 10,000 01 10,000 0 0 Sequans Communications ADR (1 Rep. 817323108 231 83,700 0 0 83,700 02 83,700 0 0 SHANDA GAMES LTD-SPONS ADR 81941U105 274 70,000 0 0 70,000 03 70,000 0 0 SHERWIN-WILLIAMS CO/THE 824348106 625 7,000 0 0 7,000 03 7,000 0 0 Shutterfly Inc. Com USD0.0001 82568P304 395 17,370 0 0 17,370 02 17,370 0 0 -------- 108,461

Form 13F Information Table GAM Holding Ltd. Page 39 of 47 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 SIGMA-ALDRICH 826552101 175 2,800 0 0 2,800 03 2,800 0 0 SILGAN HOLDINGS INC 827048109 158 4,100 0 0 4,100 03 4,100 0 0 SIMON PROPERTY GROUP INC 828806109 14,466 112,188 0 0 112,188 03 112,188 0 0 SIRIUS XM RADIO INC 82967N108 140 76,771 0 0 76,771 03 76,771 0 0 SK TELECOM CO LTD-ADR 78440P108 1,978 145,357 0 0 145,357 03 145,357 0 0 Skyworks Solutions Inc. Common USD 83088M102 1,220 75,220 0 0 75,220 02 75,220 0 0 SL GREEN REALTY CORP 78440X101 1,293 19,400 0 0 19,400 03 19,400 0 0 SLM CORP 78442P106 498 37,200 0 0 37,200 03 37,200 0 0 SLM Corp. Common USD0.20 78442P106 134 10,000 0 0 10,000 01 10,000 0 0 SOHU.COM INC 83408W103 462 9,230 0 0 9,230 03 9,230 0 0 Sonesta International Hotels-A Com 835438409 31 1,000 0 0 1,000 01 1,000 0 0 SOUTHERN CO/THE 842587107 2,231 48,200 0 0 48,200 03 48,200 0 0 SOUTHWEST AIRLINES CO 844741108 538 62,800 0 0 62,800 03 62,800 0 0 SOUTHWESTERN ENERGY CO 845467109 4,369 136,800 0 0 136,800 03 136,800 0 0 SOVRAN SELF STORAGE INC 84610H108 299 7,000 0 0 7,000 03 7,000 0 0 SPDR DJIA TRUST 78467X109 4,289 35,200 0 0 35,200 03 35,200 0 0 SPDR GOLD TRUST 78463V107 1,520 10,000 0 0 10,000 03 10,000 0 0 SPDR S&P 500 ETF TRUST 78462F103 1,934 15,400 0 0 15,400 03 15,400 0 0 SPDR S&P EMERGING ASIA PACIF 78463X301 521 7,890 0 0 7,890 03 7,890 0 0 SPECTRA ENERGY CORP 847560109 457 14,850 0 0 14,850 03 14,850 0 0 SPRINT NEXTEL CORP 852061100 435 185,800 0 0 185,800 03 185,800 0 0 Sprint Nextel Corp. Common USD2.00 852061100 1,079 462,260 0 0 462,260 01 462,260 0 0 Sprint Nextel Corp. Common USD2.00 852061100 5,327 2,282,280 0 0 2,282,280 02 2,282,280 0 0 Sprint Nextel Corp. Common USD2.00 852061100 163 70,000 0 0 70,000 01 70,000 0 0 SPX CORP 784635104 1,031 17,100 0 0 17,100 03 17,100 0 0 -------- 44,746

Form 13F Information Table GAM Holding Ltd. Page 40 of 47 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 ST JUDE MEDICAL INC 790148100 1,864 127,250 0 0 127,250 02 01 127,250 0 0 STANLEY BLACK & DECKER INC 854502101 242 3,575 0 0 3,575 03 3,575 0 0 STAPLES INC 855030102 7,672 552,370 0 0 552,370 03 552,370 0 0 Staples Inc. Common USD0.0006 855030102 11,439 823,850 0 0 823,850 02 823,850 0 0 STARBUCKS CORP 855244109 10,016 217,700 0 0 217,700 03 217,700 0 0 Starbucks Corp. Com. USD0.001 855244109 1,309 28,440 0 0 28,440 02 28,440 0 0 STARWOOD HOTELS & RESORTS 85590A401 983 20,500 0 0 20,500 03 20,500 0 0 STATE STREET CORP 857477103 2,054 50,962 0 0 50,962 03 50,962 0 0 State Street Corp. Common USD1.00 857477103 403 10,000 0 0 10,000 01 10,000 0 0 STERICYCLE INC 858912108 125 1,600 0 0 1,600 03 1,600 0 0 STILLWATER MINING CO 86074Q102 157 15,000 0 0 15,000 03 15,000 0 0 STRATEGIC HOTELS & RESORTS I 86272T106 237 44,100 0 0 44,100 03 44,100 0 0 STRYKER CORP 863667101 5,827 117,220 0 0 117,220 03 117,220 0 0 SUN COMMUNITIES INC 866674104 164 4,500 0 0 4,500 03 4,500 0 0 SUNOCO INC 86764P109 942 22,960 0 0 22,960 03 22,960 0 0 SUNSTONE HOTEL INVESTORS INC 867892101 169 20,737 0 0 20,737 03 20,737 0 0 SUNTRUST BANKS INC 867914103 389 22,000 0 0 22,000 03 22,000 0 0 Superior Industries Intl. Common U 868168105 141 8,500 0 0 8,500 01 8,500 0 0 Supervalu Inc. Common USD1.00 868536103 1,667 205,394 0 0 205,394 01 205,394 0 0 Supervalu Inc. Common USD1.00 868536103 7,591 935,550 0 0 935,550 02 935,550 0 0 SXC Health Solutions Corp. Com. NP 78505P100 1,900 33,654 0 0 33,654 02 33,654 0 0 Sycamore Networks Inc. Common USD0 871206405 358 20,000 0 0 20,000 02 20,000 0 0 Sykes Enterprises Inc Com. USD0.01 871237103 264 16,890 0 0 16,890 02 16,890 0 0 SYMANTEC CORP 871503108 10,101 645,450 0 0 645,450 03 645,450 0 0 --------- 68,548

Form 13F Information Table GAM Holding Ltd. Page 41 of 47 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 Synalloy Corporation Common USD1.0 871565107 1,034 100,000 0 0 100,000 01 100,000 0 0 SYNOPSYS INC 871607107 84 3,100 0 0 3,100 03 3,100 0 0 SYNOVUS FINANCIAL CORP 87161C105 257 182,500 0 0 182,500 03 182,500 0 0 SYSCO CORP 871829107 2,147 73,215 0 0 73,215 03 73,215 0 0 Sysco Corporation Com. USD1.00 871829107 12,472 425,290 0 0 425,290 02 425,290 0 0 T ROWE PRICE GROUP INC 74144T108 330 5,800 0 0 5,800 03 5,800 0 0 Taiwan Semi. - SP ADR (1 Rep 5 Ord 874039100 65 5,000 0 0 5,000 01 5,000 0 0 TAIWAN SEMICONDUCTOR-SP ADR 874039100 1,724 133,562 0 0 133,562 03 133,562 0 0 Take-Two Interactive Soft. Com. US 874054109 34 2,500 0 0 2,500 01 2,500 0 0 TANGER FACTORY OUTLET CENTER 875465106 668 22,800 0 0 22,800 03 22,800 0 0 TARGET CORP 87612E106 3,258 63,600 0 0 63,600 03 63,600 0 0 Target Corporation Common USD0.083 87612E106 11,386 222,270 0 0 222,270 02 222,270 0 0 TAUBMAN CENTERS INC 876664103 888 14,300 0 0 14,300 03 14,300 0 0 TD AMERITRADE HOLDING CORP 87236Y108 75 4,800 0 0 4,800 03 4,800 0 0 TELE NORTE LESTE PART-ADR 879246106 571 60,000 0 0 60,000 03 60,000 0 0 TELEFONICA BRASIL-ADR 87936R106 1,398 51,150 0 0 51,150 03 51,150 0 0 Temple-Inland Inc. Common USD1.00 879868107 4,755 150,000 0 0 150,000 01 150,000 0 0 Tempur-Pedic International Com. US 88023U101 787 14,985 0 0 14,985 02 14,985 0 0 TEMPUR-PEDIC INTERNATIONAL 88023U101 1,520 28,928 0 0 28,928 03 28,928 0 0 Tenet Healthcare Corp. Com. USD0.0 88033G100 770 150,000 0 0 150,000 01 150,000 0 0 Tenneco Inc. Common USD0.01 880349105 10,818 363,250 0 0 363,250 01 363,250 0 0 Tenneco Inc. Common USD0.01 880349105 462 15,522 0 0 15,522 02 15,522 0 0 TERADATA CORP 88076W103 393 8,100 0 0 8,100 03 8,100 0 0 Teradyne Inc. Common USD0.125 880770102 1,291 94,725 0 0 94,725 02 94,725 0 0 TESORO CORP 881609101 467 20,000 0 0 20,000 03 20,000 0 0 -------- 57,654

Form 13F Information Table GAM Holding Ltd. Page 42 of 47 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 Texas Industries Inc. Common USD1. 882491103 123 4,000 0 0 4, 000 01 4,000 0 0 TEXAS INSTRUMENTS INC 882508104 9,587 329,350 0 0 329,350 03 329,350 0 0 Texas Instruments Inc. Common USD1 882508104 931 32,000 0 0 32,000 01 32,000 0 0 TEXTRON INC 883203101 104 5,600 0 0 5,600 03 5,600 0 0 The Walt Disney Company Common USD 254687106 2,292 61,130 0 0 61,130 02 01 61,130 0 0 The Walt Disney Company Common USD 254687106 648 17,290 0 0 17,290 02 17,290 0 0 THERMO FISHER SCIENTIFIC INC 883556102 3,269 72,700 0 0 72,700 03 72,700 0 0 Thomas & Betts Corporation Common 884315102 1,037 19,000 0 0 19,000 01 19,000 0 0 TIBCO Software Inc. Common USD0.00 88632Q103 589 24,630 0 0 24,630 02 24,630 0 0 Tidewater Incorporated Common USD0 886423102 357 7,250 0 0 7,250 02 7,250 0 0 TIFFANY & CO 886547108 5,751 86,800 0 0 86,800 03 86,800 0 0 TIM PARTICIPACOES SA-ADR 88706P205 716 27,740 0 0 27,740 03 27,740 0 0 TIME WARNER CABLE 88732J207 7,626 119,960 0 0 119,960 03 119,960 0 0 TIME WARNER INC 887317303 6,023 166,665 0 0 166,665 03 166,665 0 0 Time Warner Inc. Common USD0.01 887317303 506 14,000 0 0 14,000 01 14,000 0 0 TJX COMPANIES INC 872540109 4,073 63,100 0 0 63,100 03 63,100 0 0 TOLL BROTHERS INC 889478103 53 2,600 0 0 2,600 03 2,600 0 0 TORCHMARK CORP 891027104 1,601 36,900 0 0 36,900 03 36,900 0 0 TOTAL SYSTEM SERVICES INC 891906109 55 2,803 0 0 2,803 03 2,803 0 0 TOWERS WATSON & CO-CL A 891894107 186 3,100 0 0 3,100 03 3,100 0 0 TRANSOCEAN LTD H8817H100 15,857 408,960 0 0 408,960 03 408,960 0 0 Transocean Ltd. Com. CHF15.00 H8817H100 3,146 81,930 0 0 81,930 02 01 81,930 0 0 TRAVELERS COS INC/THE 89417E109 2,899 49,000 0 0 49,000 03 49,000 0 0 TRINA SOLAR LTD-SPON ADR 89628E104 1,253 187,600 0 0 187,600 03 187,600 0 0 Trina Solar Ltd. ADR (1 Rep 100 Or 89628E104 9,672 1,447,880 0 0 1,447,880 01 1,447,880 0 0 -------- 78,356

Form 13F Information Table GAM Holding Ltd. Page 43 of 47 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 Trina Solar Ltd. ADR (1 Rep 100 Or 89628E104 414 61,926 0 0 61,926 02 61,926 0 0 TRIPADVISOR INC 896945201 623 24,700 0 0 24,700 03 24,700 0 0 TRUE RELIGION APPAREL INC 89784N104 114 3,300 0 0 3,300 03 3,300 0 0 TRW AUTOMOTIVE HOLDINGS CORP 87264S106 1,177 36,118 0 0 36,118 03 36,118 0 0 TUPPERWARE BRANDS CORP 899896104 840 15,000 0 0 15,000 03 15,000 0 0 TURKCELL ILETISIM HIZMET-ADR 900111204 759 64,560 0 0 64,560 03 64,560 0 0 TYCO INTERNATIONAL LTD H89128104 3,856 82,550 0 0 82,550 03 82,550 0 0 Tyco International Ltd. Com. CHF6. H89128104 701 15,000 0 0 15,000 01 15,000 0 0 TYSON FOODS INC-CL A 902494103 149 7,200 0 0 7,200 03 7,200 0 0 U S GOLD CORP 912023207 336 100,000 0 0 100,000 03 100,000 0 0 UDR INC 902653104 1,371 54,625 0 0 54,625 03 54,625 0 0 ULTRA PETROLEUM CORP 903914109 545 18,400 0 0 18,400 03 18,400 0 0 ULTRAPAR PARTICPAC-SPON ADR 90400P101 1,032 60,000 0 0 60,000 03 60,000 0 0 UNION PACIFIC CORP 907818108 9,769 92,212 0 0 92,212 03 92,212 0 0 United Continental Holdings Common 910047109 457 24,251 0 0 24,251 02 24,251 0 0 UNITED CONTINENTAL HOLDINGS 910047109 25 1,300 0 0 1,300 03 1,300 0 0 UNITED MICROELECTRON-SP ADR 910873405 407 190,000 0 0 190,000 03 190,000 0 0 UNITED NATURAL FOODS INC 911163103 4,085 102,100 0 0 102,100 03 102,100 0 0 UNITED PARCEL SERVICE-CL B 911312106 18,524 253,100 0 0 253,100 03 253,100 0 0 United Parcel Service Com.Cls B US 911312106 12,529 171,180 0 0 171,180 02 171,180 0 0 United Rentals Inc. Common USD0.01 911363109 528 17,876 0 0 17,876 02 17,876 0 0 UNITED STATES STEEL CORP 912909108 609 23,000 0 0 23,000 03 23,000 0 0 United States Steel Corp Note 4.00 912909AE8 592 500,000 0 0 500,000 01 500,000 0 0 UNITED TECHNOLOGIES CORP 913017109 15,109 206,720 0 0 206,720 03 206,720 0 0 United Technologies Corp. Common U 913017109 11,845 162,070 0 0 162,070 02 162,070 0 0 UNITEDHEALTH GROUP INC 91324P102 23,476 463,230 0 0 463,230 03 463,230 0 0 -------- 109,871

Form 13F Information Table GAM Holding Ltd. Page 44 of 47 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. Common USD 91324P102 1,419 27,990 0 0 27,990 02 27,990 0 0 UNIVERSAL HEALTH RLTY INCOME 91359E105 144 3,700 0 0 3,700 03 3,700 0 0 UNIVERSAL HEALTH SERVICES-B 913903100 389 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 80 2,900 0 0 2,900 03 2,900 0 0 URS CORP 903236107 53 1,500 0 0 1,500 03 1,500 0 0 URSTADT BIDDLE - CLASS A 917286205 114 6,300 0 0 6,300 03 6,300 0 0 US BANCORP 902973304 13,330 492,800 0 0 492,800 03 492,800 0 0 US Cellular Corporation Common USD 911684108 654 15,000 0 0 15,000 01 15,000 0 0 USA Truck Incorporated Common USD0 902925106 4,638 600,000 0 0 600,000 01 600,000 0 0 UTILITIES SELECT SECTOR SPDR 81369Y886 6,476 180,000 0 0 180,000 03 180,000 0 0 VALE SA-SP ADR 91912E105 11,505 536,369 0 0 536,369 03 536,369 0 0 VALE SA-SP PREF ADR 91912E204 6,386 310,000 0 0 310,000 03 310,000 0 0 Vale SA - SP ADR (1 Reps. 1 Ord.) 91912E105 1,502 70,000 0 0 70,000 01 70,000 0 0 VALERO ENERGY CORP 91913Y100 1,328 63,100 0 0 63,100 03 63,100 0 0 Vanceinfo Technologies ADR (1 Rep. 921564100 347 38,300 0 0 38,300 02 38,300 0 0 VANGUARD HIGH DVD YIELD ETF 921946406 54 1,200 0 0 1,200 03 1,200 0 0 VANGUARD LARGE-CAP ETF 922908637 860 15,000 0 0 15,000 03 15,000 0 0 VANGUARD MSCI EMERGING MARKE 922042858 57,754 1,511,500 0 0 1,511,500 03 1,511,500 0 0 VARIAN MEDICAL SYSTEMS INC 92220P105 161 2,400 0 0 2,400 03 2,400 0 0 VENTAS INC 92276F100 4,998 90,663 0 0 90,663 03 90,663 0 0 VERISIGN INC 92343E102 132 3,700 0 0 3,700 03 3,700 0 0 VERISK ANALYTICS INC-CLASS A 92345Y106 116 2,900 0 0 2,900 03 2,900 0 0 VERIZON COMMUNICATIONS INC 92343V104 13,856 345,369 0 0 345,369 03 345,369 0 0 VERTEX PHARMACEUTICALS INC 92532F100 814 24,500 0 0 24,500 03 24,500 0 0 -------- 127,259

Form 13F Information Table GAM Holding Ltd. Page 45 of 47 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 VF CORP 918204108 3,067 24,150 0 0 24,150 03 24,150 0 0 Viacom Inc. New Class A Com. USD0. 92553P102 748 14,000 0 0 14,000 01 14,000 0 0 Viad Corporation Common USD 1.50 92552R406 184 10,500 0 0 10,500 01 10,500 0 0 VIRGIN MEDIA INC 92769L101 128 6,000 0 0 6,000 03 6,000 0 0 Virgin Media Inc. 6.55% Cv. 15-11- 92769LAB7 6,000 2,935 0 0 2,935 01 2,935 0 0 Virgin Media Inc. 6.55% Cv. 15-11- 92769LAB7 8,295 6,000,000 0 0 6,000,000 01 6,000,000 0 0 VISA INC-CLASS A SHARES 92826C839 26,325 259,284 0 0 259,284 03 259,284 0 0 Visa Inc. Class A Common USD0.0001 92826C839 901 8,879 0 0 8,879 01 8,879 0 0 Visa Inc. Class A Common USD0.0001 92826C839 2,031 20,000 0 0 20,000 02 20,000 0 0 Vmware Inc-Class A Common USD0.01 928563402 1,622 19,500 0 0 19,500 02 19,500 0 0 VMWARE INC-CLASS A 928563402 141 1,700 0 0 1,700 03 1,700 0 0 VORNADO REALTY TRUST 929042109 4,767 62,025 0 0 62,025 03 62,025 0 0 VULCAN MATERIALS CO 929160109 508 12,900 0 0 12,900 03 12,900 0 0 Wal-Mart Stores Inc Common USD0.10 931142103 12,122 202,850 0 0 202,850 02 202,850 0 0 WAL-MART STORES INC 931142103 23,556 394,175 0 0 394,175 03 394,175 0 0 WALGREEN CO 931422109 12,756 385,830 0 0 385,830 03 385,830 0 0 Walgreen Company Common USD0.07812 931422109 4,752 143,728 0 0 143,728 01 143,728 0 0 Walgreen Company Common USD0.07812 931422109 21,727 657,125 0 0 657,125 02 657,125 0 0 WALT DISNEY CO/THE 254687106 23,070 615,200 0 0 615,200 03 615,200 0 0 WALTER ENERGY INC 93317Q105 73 1,200 0 0 1,200 03 1,200 0 0 WASHINGTON POST-CLASS B 939640108 38 100 0 0 100 03 100 0 0 WASHINGTON REIT 939653101 492 18,000 0 0 18,000 03 18,000 0 0 WASTE MANAGEMENT INC 94106L109 2,123 64,900 0 0 64,900 03 64,900 0 0 Waste Management Inc. Com. USD0.01 94106L109 11,422 349,200 0 0 349,200 01 349,200 0 0 Waste Management Inc. Com. USD0.01 94106L109 13,006 397,670 0 0 397,670 02 397,670 0 0 WATERS CORP 941848103 148 2,000 0 0 2,000 03 2,000 0 0 -------- 180,002

Form 13F Information Table GAM Holding Ltd. Page 46 of 47 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 WATSON PHARMACEUTICALS INC 942683103 157 2,600 0 0 2,600 03 2,600 0 0 Watts Water Tech. Inc. A Common US 942749102 7,307 213,590 0 0 213,590 01 213,590 0 0 Watts Water Tech. Inc. A Common US 942749102 312 9,118 0 0 9,118 02 9,118 0 0 WEATHERFORD INTL LTD H27013103 10,955 769,378 0 0 769,378 03 769,378 0 0 Weatherford Intl. Ltd. Com. USD1.0 H27013103 659 45,000 0 0 45,000 01 45,000 0 0 Weight Watchers Intl. Incorporated 948626106 254 4,610 0 0 4,610 02 4,610 0 0 WEINGARTEN REALTY INVESTORS 948741103 668 30,600 0 0 30,600 03 30,600 0 0 WELLPOINT INC 94973V107 2,643 39,900 0 0 39,900 03 39,900 0 0 WELLS FARGO & CO 949746101 28,682 1,040,708 0 0 1,040,708 03 1,040,708 0 0 Wells Fargo & Co. Com. USD1.666 949746101 2,757 100,000 0 0 100,000 01 100,000 0 0 Wells Fargo & Co. Com. USD1.666 949746101 581 21,070 0 0 21,070 02 21,070 0 0 Westar Energy Inc. Common USD5.00 95709T100 58 2,000 0 0 2,000 01 2,000 0 0 WESTERN DIGITAL CORP 958102105 1,247 40,300 0 0 40,300 03 40,300 0 0 Western Digital Corp. Common USD0. 958102105 904 29,200 0 0 29,200 02 29,200 0 0 WESTERN UNION CO 959802109 1,722 94,300 0 0 94,300 03 94,300 0 0 Western Union Corp. Common USD0.01 959802109 13,657 747,530 0 0 747,530 02 747,530 0 0 WEYERHAEUSER CO 962166104 224 11,990 0 0 11,990 03 11,990 0 0 WHIRLPOOL CORP 963320106 1,087 22,900 0 0 22,900 03 22,900 0 0 Whiting Petroleum Corp USD 0.001 966387102 343 7,340 0 0 7,340 02 7,340 0 0 WHITING PETROLEUM CORP 966387102 128 2,733 0 0 2,733 03 2,733 0 0 WHOLE FOODS MARKET INC 966837106 4,662 67,000 0 0 67,000 03 67,000 0 0 WILEY (JOHN) & SONS-CLASS A 968223206 1,559 35,108 0 0 35,108 03 35,108 0 0 Williams Companies Inc. Common USD 969457100 2,065 62,537 0 0 62,537 01 62,537 0 0 WILLIAMS COS INC 969457100 5,570 168,700 0 0 168,700 03 168,700 0 0 WILLIS GROUP HOLDINGS PLC G96666105 128 3,300 0 0 3,300 03 3,300 0 0 -------- 88,327

Form 13F Information Table GAM Holding Ltd. Page 47 of 47 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 WINDSTREAM CORP 97381W104 134 11,400 0 0 11,400 03 11,400 0 0 WISCONSIN ENERGY CORP 976657106 9,677 276,800 0 0 276,800 03 276,800 0 0 WR BERKLEY CORP 084423102 93 2,700 0 0 2,700 03 2,700 0 0 WR Berkley Corp. Common USD0.20 084423102 10,317 300,000 0 0 300,000 01 300,000 0 0 WUXI PHARMATECH INC-ADR 929352102 757 68,600 0 0 68,600 03 68,600 0 0 WW GRAINGER INC 384802104 7,825 41,800 0 0 41,800 03 41,800 0 0 WYNN RESORTS LTD 983134107 1,856 16,800 0 0 16,800 03 16,800 0 0 XCEL ENERGY INC 98389B100 550 19,900 0 0 19,900 03 19,900 0 0 XEROX CORP 984121103 1,985 249,400 0 0 249,400 03 249,400 0 0 XILINX INC 983919101 3,754 117,100 0 0 117,100 03 117,100 0 0 Xilinx Inc. Common USD0.01 983919101 1,420 44,300 0 0 44,300 02 44,300 0 0 Xylem Inc-W/I Com. NPV 98419M100 462 18,000 0 0 18,000 01 18,000 0 0 XYLEM INC 98419M100 617 24,000 0 0 24,000 03 24,000 0 0 YAHOO! INC 984332106 3,655 226,600 0 0 226,600 03 226,600 0 0 Yahoo! Incorporated Common USD0.00 984332106 484 30,000 0 0 30,000 01 30,000 0 0 Youku Inc. ADR (1 Rep. 18 Ord.) 98742U100 381 24,300 0 0 24,300 02 24,300 0 0 YUM! BRANDS INC 988498101 4,839 82,000 0 0 82,000 03 82,000 0 0 Yum! Brands Inc. Com. NPV 988498101 5,304 89,880 0 0 89,880 02 01 89,880 0 0 ZIMMER HOLDINGS INC 98956P102 1,482 27,750 0 0 27,750 03 27,750 0 0 ZIONS BANCORPORATION 989701107 407 25,000 0 0 25,000 03 25,000 0 0 Zoll Medical Corp USD0.01 Com. 989922109 366 5,790 0 0 5,790 02 5,790 0 0 --------- 56,365 ========= 4,466,152