Instuitional Investor - Pacific Alternative Asset Management Company, Llc

13F Holdings

Filing Period:

No.	Security	Ticker	Shares	Value	% Port
1.	N X P Semiconductors N V	NXPI	873,096	$98,738,000	10.81%
2.	Time Warner Inc.	TWX	834,325	$85,477,000	9.36%
3.	Spdr S & P 500 Etf TrustPUT	SPY	212,400	$53,361,000	5.84%
4.	Sector Spdr TrustCALL	XLB	657,000	$44,991,000	4.92%
5.	Sector Spdr TrustPUT	XLB	641,300	$43,916,000	4.8%