13F-HR 1 strome13f.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: June 30, 2005 ---------------------- 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: Strome Investment Management, L.P. --------------------------------------------------- Address: 100 Wilshire Blvd., 15th Floor --------------------------------------------------- Santa Monica, CA 90401 --------------------------------------------------- --------------------------------------------------- Form 13F File Number: 28- 04963 ------------ 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: Jeffrey S. Lambert --------------------------------------------------- Title: Chief Operating Officer --------------------------------------------------- Phone: 310-752-1402 --------------------------------------------------- Signature, Place, and Date of Signing: /s/ Jeffrey S. Lambert Santa Monica, CA 8/8/2005 -------------------------- -------------------------------- ---------- [Signature] [City, State] [Date] Report Type: (Check only one.): [|X|] 13F HOLDINGS REPORT. (Check here if all holdings of this reporting manager are reported in this report.) [|_|] 13F NOTICE. (Check here if no holdings reported are in this report, and all holdings are reported by other reporting manager(s).) [|_|] 13F COMBINATION REPORT. (Check here if a portion of the holdings for this reporting manager are reported in this report and a portion are reported by other reporting manager(s).) Form 13F SUMMARY PAGE Report Summary: Number of Other Included Managers: 1 -------------------- Form 13F Information Table Entry Total: 45 -------------------- Form 13F Information Table value Total: $ 124,051 -------------------- (thousands) List of Other Included Managers: Provide a numbered list of the name(s) and Form 13F file number(s) of all institutional investment managers with respect to which this report is filed, other than the manager filing this report. [If there are no entries in this list, state "NONE" and omit the column headings and list entries.] No. 13F File No. Name 01 28-4168 Mark Strome

INVESTMENT DISCRETION VOTING AUTHORITY MARKET VALUE -------- ------ ----------- ------ ------ ---- ~~VALUE~~ SECURITY ~~TITLE~~Title CUSIP (~~x 1000~~x1000) ~~AMOUNT~~QUANTITY TYPE SOLE SHARE OTHER MGRS SOLE SHARE NONE ---------------------------- -~~---------~~ --------- --------- -------- --~~---~~ -------- ------ ---------- ------ ------- ---- ~~COPANO ENERGY LLC MLP 217202100 4,970 175,000 SH 175,000 01 175,000~~ CROSSTEX ENERGY LP ~~MLP~~COM 22765U102 3,~~279~~807 100,060 SH 100,060 01 100,060 ENTERPRISE PRODUCTS PARTNERS ~~MLP~~COM 293792107 21,~~586~~340 ~~100~~50,000 SH ~~100~~50,000 01 ~~100~~50,000 INERGY LP ~~MLP~~COM 456615103 32,~~586~~816 ~~125~~90,000 SH ~~125~~90,000 01 ~~125~~90,000 ~~MAGELLAN~~INERGY ~~MIDSTREAM~~HOLDINGS ~~PARTNERS~~LP ~~MLP~~COM ~~559080106~~45661Q107 51,~~867~~638 ~~100~~60,000 SH ~~100~~60,000 01 ~~100~~60,000 ~~MARKWEST~~MAGELLAN ~~ENERGY~~MIDSTREAM PARTNERS LPCOM ~~MLP~~559080106 ~~570759100~~8,523 ~~277 5~~260,~~700~~000 SH 5260,~~700~~000 01 5260,~~700~~000 NATURAL RESOURCE PARTNERS LP ~~MLP~~COM 63900P103 89,~~100~~278 ~~140~~160,~~500~~000 SH ~~140~~160,~~500~~000 01 ~~140~~160,~~500~~000 ~~NORTHERN~~PACIFIC ~~BORDER~~ENERGY PARTNERS- LP ~~MLP~~COM ~~664785102~~69422R105 ~~5,541~~794 ~~115~~25,000 SH ~~115~~25,000 01 ~~115~~25,000 PLAINS ALL AMER PIPELINE LP ~~MLP~~COM 726503105 148,~~520~~333 ~~384~~190,~~750~~000 SH ~~384~~190,~~750~~000 01 ~~384~~190,~~750~~000 USTEPPCO ~~SHIPPING~~ PARTNERS LP ~~MLP~~COM ~~903417103~~872384102 2,~~730~~445 ~~100~~59,000 SH ~~100~~59,000 01 ~~100~~59,000 ~~_________~~TRANSMONTAIGNE 51PARTNERS LP COM 89376V100 1,~~456~~533 60,500 SH 60,500 01 60,500 VALERO LP COM 91913W104 602 10,000 SH 10,000 01 10,000 TEEKAY LNG PARTNERS LP COM Y8564M105 4,230 150,000 SH 150,000 01 150,000 ALLIED HEALTHCARE INTL INC COM 01923A109 1708 100,~~426~~000 ~~259~~SH 100,~~200~~000 01 100,000 AMGEN INC COM 31162100 7,558 125,000 SH ~~259~~125,~~200~~000 01 ~~259~~125,~~200~~000 ~~ATLAS~~ATWOOD ~~AMERICA~~OCEANICS INC COM ~~49167109~~50095108 ~~3,754~~923 ~~105~~15,000 SH ~~105~~15,000 01 ~~105~~15,000 CABOT MICROELECTRONICS CORP COM 12709P103 31,~~005~~450 7550,000 SH 7550,000 01 7550,000 CAMECO CORP COM 13321L108 711,~~865~~188 75250,000 SH 75250,000 01 75250,000 CHESAPEAKE ENERGY CORP COM 165167107 16,~~650~~840 ~~100~~300,000 SH ~~100~~300,000 01 ~~100~~300,000 ~~GREY~~CROSSTEX ~~WOLF~~ENERGY INC COM ~~397888108~~22765Y104 32,~~953~~898 ~~750~~60,000 SH ~~750~~60,000 01 ~~750~~60,000 ~~KFX~~ENTREMED INC COM ~~48245L107~~29382F103 6810 350,~~389~~800 ~~440~~SH 350,800 01 350,800 FIRST AVENUE NETWORKS INC COM 31865X106 574 87,000 SH ~~440~~87,000 01 ~~440~~87,000 ~~LCC~~GERON ~~INTERNATIONAL~~CORP ~~INC-CL A~~ COM ~~501810105~~374163103 ~~292~~1,742 50225,000 SH 50225,000 01 50225,000 ~~NAPSTER~~IBASIS INC COM ~~630797108~~450732102 1,~~269~~768 ~~135~~650,~~550~~000 SH ~~135~~650,~~550~~000 01 ~~135~~650,~~550~~000 ~~NORTH~~JUNIPER ~~AMER~~NETWORKS ~~PALLADIUM~~INC ~~LTD~~ COM ~~656912102~~48203R104 13,~~360~~148 ~~166~~125,~~100~~000 SH ~~166~~125,~~100~~000 01 ~~166~~125,~~100~~000 ~~PARKER~~KFX ~~DRILLING~~INC CO COM ~~701081101~~48245L107 ~~865~~7,288 ~~220~~510,000 SH ~~220~~510,000 01 ~~220~~510,000 ~~PETROKAZAKHSTAN~~MEDAREX INC~~-CL~~ A COM ~~71649P102~~583916101 ~~4,081~~415 ~~110~~50,000 SH ~~110~~50,000 01 ~~110~~50,000 ~~RANGE~~PETROHAWK ~~RESOURCES~~ENERGY CORP COM ~~75281A109~~716495106 71,~~468~~620 ~~365~~150,000 SH ~~365~~150,000 01 ~~365~~150,000 RESOURCE AMERICA INC-CL A COM 761195205 ~~345~~963 1025,~~600~~000 SH 1025,~~600~~000 01 1025,~~600~~000 ~~SCHERING-PLOUGH~~SCHLUMBERGER ~~CORP~~LTD COM ~~806605101~~806857108 21,~~088~~899 ~~100~~25,000 SH ~~100~~25,000 01 ~~100~~25,000 TALISMAN ENERGY INC COM ~~87425e103~~87425E103 24,~~872~~002 106,530 SH 106,530 01 106,530 ~~TOWER~~TRANSMONTAIGNE ~~GROUP~~ INC. COM ~~891777104~~893934109 ~~887~~315 7430,000 SH 7430,000 01 7430,000 ~~XTO~~VERISIGN ~~ENERGY~~ INC COM ~~98385X106~~92343E102 ~~531~~6,471 15225,000 SH 15225,000 01 15225,000 ~~TRANSOCEAN~~XTO ENERGY INC COM ~~G90078109~~98385X106 2,~~967~~549 7075,000 SH 7075,000 01 7075,000 ~~_________~~YAHOO! ~~53,067~~INC ~~CALL~~COM ~~CHESAPEAKE~~984332106 ~~ENERGY~~6,064 ~~CORP~~175,000 ~~CALL~~SH ~~17.5~~175,000 01~~/22/05~~ ~~1651679A7~~175,000 22ARIES MARITIME TRANSPORT LTD COM G0474B105 1,~~481~~103 ~~CALL~~88,200 1SH 88,~~481~~200 01 188,~~481~~200 ~~CALL~~WESTERN ~~CHESAPEAKE~~SILVER ~~ENERGY~~ CORP ~~CALL~~COM ~~15.0~~959531104 870 100,000 SH 100,000 01~~/22/05~~ ~~1651679AC~~100,000 ~~160~~RANDGOLD 1RESOURCES LTD-ADR COM 752344309 4,218 300,000 ~~CALL~~SH 1300,000 01 1300,000 ~~CALL~~TOTAL ~~EOG~~COMMON ~~RESOURCES~~STOCKS ~~INC~~122,723 CALL 70MORGAN STANLEY CALL 60.0 0107/2216/05 ~~26875P9A1~~6174469G6 ~~358~~9 1,~~300~~750 CALL 1,~~300~~750 01 1,~~300~~750 CALL ~~GLAMIS~~MORGAN ~~GOLD~~STANLEY ~~LTD~~ CALL 2065.0 0207/1916/05 ~~3767759B0~~99MWDGO 563 1,~~851~~000 CALL 1,~~851~~000 01 1,~~851~~000 CALL ~~XTO~~CAMECO ~~ENERGY~~CORP ~~INC~~ CALL 3045.0 0209/1917/05 ~~98385X9B4~~13321L9I1 ~~550~~495 1,~~000~~500 CALL 1,~~000~~500 01 1,~~000~~500 CALL ~~GENENTECH~~AMGEN INC. CALL 5565.0 0310/1922/05 ~~3687109CK~~44299W9J8 ~~2,450~~49 ~~7,000~~500 CALL ~~7,000~~500 01 ~~7,000~~500 CALL ~~RANGE~~CAMECO ~~RESOURCES~~ CORP CALL 2050.0 0312/1917/05 ~~75281A9C5~~13321L9L4 25155 ~~150~~500 CALL ~~150~~500 01 ~~150~~500 CALL ~~MORGAN~~VERISIGN ~~STANLEY~~INC CALL 5535.0 0412/1617/05 ~~6174469D3~~9E599W9L3 110 1,~~995 7,~~000 CALL 71,000 01 71,000 CALL ~~SCHERING-PLOUGH~~YAHOO! ~~CORP~~INC CALL 2240.50 0501/21/0506 ~~8066059e3~~9843329A6 75214 1,~~000~~500 CALL 1,~~000~~500 01 1,~~000~~500 CALL ~~SCHERING-PLOUGH~~AMGEN ~~CORP~~INC CALL 2065.0 0501/21/0506 ~~8066059ED~~99YAAAM ~~200~~293 1,~~000~~500 CALL 1,~~000~~500 01 1,~~000~~500 ~~_________~~TOTAL 5EQUITY CALL OPTIONS 1,~~891~~328 124,051 =======~~== 110,414~~

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