13F-HR 1 form13fhr.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: 6/30/2010 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: Cambrian Capital L.P. Address: 45 Coolidge Point Manchester, MA 01944 Form 13F File Number: 028-12248 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. Persons Signing this Report on Behalf of Reporting Manager: Name: Karen Durante Title: Chief Financial Officer Phone: 978-526-7010 Signature, Place, and Date of Signing: /s/ Karen Durante Manchester, MA 8/16/2010 --------------------------------- --------------------------------- ---------- [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).) List of Other Managers Reporting for this Manager: Form 13F SUMMARY PAGE Report Summary: Number of Other Included Managers: 2 Form 13F Information Table Entry Total: 57 Form 13F Information Table Value Total: $ 658,072 -------------- (In Thousands) List of Other Included Managers: Provide a numbered list of the name(s) and 13F file number(s) of all institutional investment managers with respect to which this report is filed, other than the manager filing this report. No. Form 13F File Number Name 1 028-12250 Ernst H. von Metzsch ---- -------------------- ---------------------------------------------------- 2 028-12249 Roland A. von Metzsch ---- -------------------- ----------------------------------------------------

FORM 13F INFORMATION TABLE COLUMN 1 COLUMN 2 COLUMN 3 COLUMN 4 COLUMN 5 COLUMN 6 COLUMN 7 COLUMN 8 ---------------------------- -------------- --------- -------- ------------------ ---------- -------- --------------------- VALUE SHRS OR SH/ PUT/ INVESTMENT OTHER VOTING AUTHORITY NAME OF ISSUER TITLE OF CLASS CUSIP (x$1000) PRN AMT PRN CALL DISCRETION MANAGERS SOLE SHARED NONE ---------------------------- -------------- --------- -------- --------- --- ---- ---------- -------- --------- ------ ---- AGNICO EAGLE MINES LTD COM 008474108 2,~~605~~845 46,800 SH DEFINED 1,2 46,800 0 0 ~~ALLEGHENY TECHNOLOGIES INC COM 01741R102 6,776 125,500 SH DEFINED 1,2 125,500 0 0~~ ALLIED NEVADA GOLD CORP COM 019344100 89,~~118~~641 489,900 SH DEFINED 1,2 489,900 0 0 ALPHA NATURAL RESOURCES INC COM 02076X102 2326,~~299~~063 ~~467~~769,~~000~~500 SH DEFINED 1,2 ~~467~~769,~~000~~500 0 0 AMERICAN OIL & GAS INC NEW COM 028723104 13,~~062~~105 ~~156~~494,~~203~~400 SH DEFINED 1,2 ~~156~~494,~~203~~400 0 0 ANADARKO PETE CORP COM 032511107 368,~~430~~308 ~~500~~230,200 SH DEFINED 1,2 ~~500~~230,200 0 0 BHP BILLITON LTD SPONSORED ADR 088606108 129,~~393~~565 154,300 SH DEFINED 1,2 154,300 0 0 ~~CANADIAN~~CAMERON ~~SUPERIOR~~INTERNATIONAL ~~ENERGY~~CORP ~~INC~~ COM ~~136644101~~13342B105 210,~~090~~595 3325,~~460,172~~800 SH DEFINED 1,2 3325,~~460,172~~800 0 0 ~~CHESAPEAKE ENERGY CORP COM 165167107 11,820 500,000 CALL DEFINED 1,2 500,000 0 0~~ CLIFFS NATURAL RESOURCES INC COM 18683K101 85,~~918~~928 125,700 SH DEFINED 1,2 125,700 0 0 CONSOL ENERGY INC COM 20854P109 107,~~988~~008 ~~257~~207,582 SH DEFINED 1,2 ~~257~~207,582 0 0 CONTINENTAL RESOURCES INC COM 212015101 96,~~506~~122 ~~223~~137,~~400~~200 SH DEFINED 1,2 ~~223~~137,~~400~~200 0 0 ~~DENBURY~~ETFS ~~RES~~PLATINUM ~~INC~~TR ~~COM~~SH ~~NEW~~BEN ~~247916208~~INT 126922V101 2,~~012~~579 6016,~~000~~900 SH DEFINED 1,2 6016,~~000~~900 0 0 EXETER RES CORP COM 301835104 1,~~667~~084 ~~272~~172,000 SH DEFINED 1,2 ~~272~~172,000 0 0 ~~FREEPORT-MCMORAN~~EXXON ~~COPPER~~MOBIL &CORP GO COM ~~35671D857~~30231G102 1611,~~911~~985 ~~202~~210,~~428~~000 SH DEFINED 1,2 ~~202~~210,~~428~~000 0 0 ~~FRONTEER~~FREEPORT-MCMORAN ~~DEV~~COPPER ~~GROUP~~& ~~INC~~GO COM ~~35903Q106~~35671D857 617,~~726~~853 1301,~~305,957~~928 SH DEFINED 1,2 1301,~~305,957~~928 0 0 FXFRONTEER ~~ENERGY~~GOLD INC COM ~~302695101~~359032109 16,~~835~~564 ~~535~~1,~~100~~103,152 SH DEFINED 1,2 ~~535~~1,~~100~~103,152 0 0 GOLDCORP INC NEW COM 380956409 1117,~~032~~212 ~~296~~392,~~413~~513 SH DEFINED 1,2 ~~296~~392,~~413~~513 0 0 GRAN TIERRA ENERGY INC COM 38500T101 1110,~~960~~054 2,027,075 SH DEFINED 1,2 2,027,075 0 0 HALLIBURTON CO COM 406216101 1133,~~901~~113 ~~395~~1,~~000~~348,800 SH DEFINED 1,2 ~~395~~1,~~000~~348,800 0 0 HOUSTON AMERIN ENERGY CORP COM 44183U100 ~~1,110~~899 6191,149 SH DEFINED 1,2 6191,149 0 0 ~~INTERNATIONAL~~IMPERIAL ~~TOWER~~OIL ~~HILL~~LTD ~~MIN~~ COM ~~46051L104~~453038408 14,~~596~~225 ~~277~~116,000 SH DEFINED 1,2 ~~277~~116,000 0 0 ISHARES SILVER TRUST ISHARES 46428Q109 814,~~570~~204 ~~500~~780,000 SH DEFINED 1,2 ~~500~~780,000 0 0 ~~KEEGAN~~ISHARES ~~RES~~TR ~~INC~~INDEX ~~COM~~RUSSELL ~~487275109~~2000 ~~491~~464287655 8185,561 1,400,000 SHPUT DEFINED 1,2 811,400,000 0 0 ~~MARINER~~KEEGAN ~~ENRGY~~RES INC COM ~~56845T305~~487275109 1,~~886~~314 ~~126~~247,000 SH DEFINED 1,2 ~~126~~247,000 0 0 MASSEY ENERGY CORP COM 576206106 196,~~577~~003 ~~374~~219,~~400~~500 SH DEFINED 1,2 ~~374~~219,~~400~~500 0 0 MOSAIC CO COM 61945A107 1,~~939~~243 31,900 SH DEFINED 1,2 31,900 0 0 NATIONAL OILWELL VARCO INC COM 637071101 2523,~~524~~486 ~~628~~710,~~978~~178 SH DEFINED 1,2 ~~628~~710,~~978~~178 0 0 OCCIDENTAL PETE CORP DEL COM 674599105 4240,~~803~~998 ~~506~~531,~~300~~400 SH DEFINED 1,2 ~~506~~531,~~300~~400 0 0 ~~OIL~~OCEANEERING ~~SVC~~INTL ~~HOLDRS~~INC TRCOM ~~DEPOSTRY~~675232102 ~~RCPT 678002106 36~~2,~~777~~425 ~~300~~54,000 ~~PUT~~SH DEFINED 1,2 ~~300~~54,000 0 0 PAN AMERICAN SILVER CORP COM 697900108 3,539 140,000 SH DEFINED 1,~~621~~2 70140,000 0 0 PATRIOT COAL CORP. COM 70336T104 2,656 226,000 SH DEFINED 1,2 70226,000 0 0 PEABODY ENERGY CORP COM 704549104 9,~~231~~552 ~~202~~244,~~000~~100 SH DEFINED 1,2 ~~202~~244,~~000~~100 0 0 PENGROWTH ENERGY TR TR UNIT NEW 706902509 2216,~~737~~946 1,~~950~~850,000 SH DEFINED 1,2 1,~~950~~850,000 0 0 PETROHAWK ENERGY CORP COM 716495106 5,091 300,000 CALL DEFINED 1,2 300,000 0 0 PETROLEO BRASILEIRO SA PETRO SP ADR NON VGG 71654V101 2213,~~027~~123 ~~556~~440,380 SH DEFINED 1,2 ~~556~~440,380 0 0 PIONEER NAT RES CO COM 723787107 1711,~~076~~819 ~~303~~198,~~200~~800 SH DEFINED 1,2 ~~303~~198,~~200~~800 0 0 POTASH CORP SASK INC COM 73755L107 129,~~973~~374 108,700 SH DEFINED 1,2 108,700 0 0 ~~QUICKSILVER~~PRIDE ~~RESOURCES~~INTL INC DEL COM ~~74837R104~~74153Q102 216,~~288~~791 1304,~~513,~~000 SH DEFINED 1,2 1304,~~513,~~000 0 0 QUICKSILVER RESOURCES INC COM 74837R104 1221,~~663~~285 ~~900~~1,935,000 ~~CALL~~SH DEFINED 1,2 ~~900~~1,935,000 0 0 ~~RANDGOLD~~QUICKSILVER ~~RES~~RESOURCES ~~LTD~~INC ~~ADR~~COM ~~752344309~~74837R104 39,~~381~~900 44900,000 SHCALL DEFINED 1,2 44900,000 0 0 ~~RESOLUTE~~RANDGOLD ~~ENERGY~~RES ~~CORP~~LTD ~~COM~~ADR ~~76116A108~~752344309 4,~~039~~169 ~~333~~44,~~500~~000 SH DEFINED 1,2 ~~333~~44,~~500~~000 0 0 SANDRIDGE ENERGY INC COM 80007P307 43,~~620~~498 600,000 CALL DEFINED 1,2 600,000 0 0 SCHLUMBERGER LTD COM 806857108 1734,~~532~~315 ~~276~~620,~~267~~067 SH DEFINED 1,2 ~~276~~620,~~267~~067 0 0 SILVER WHEATON CORP COM 828336107 2026,~~434~~194 1,303,200 SH DEFINED 1,2 1,303,200 0 0 ~~SOUTHWESTERN~~SPDR ~~ENERGY~~GOLD COTRUST ~~COM~~GOLD ~~845467109~~SHS 878463V107 3,~~563~~614 ~~210~~29,~~300~~700 SH DEFINED 1,2 ~~210~~29,~~300~~700 0 0 SPDR ~~GOLD~~SERIES TRUST ~~GOLD~~S&P ~~SHS~~METALS ~~78463V107~~MNG 78464A755 14,621 320,000 PUT DEFINED 1,~~743~~2 16320,000 SH0 0 SPDR SERIES TRUST S&P OILGAS EXP 78464A730 17,546 450,000 PUT DEFINED 1,2 16450,000 0 0 STEEL DYNAMICS INC COM 858119100 64,~~553~~948 375,100 SH DEFINED 1,2 375,100 0 0 SUNCOR ENERGY INC NEW COM 867224107 107,~~664~~479 ~~327~~254,~~723~~057 SH DEFINED 1,2 ~~327~~254,~~723~~057 0 0 TALISMAN ENERGY INC COM 87425E103 ~~409~~364 24,000 SH DEFINED 1,2 24,000 0 0 TENARIS S A SPONSORED ADR 88031M109 3,~~929~~167 91,500 SH DEFINED 1,2 91,500 0 0 THOMPSON CREEK METALS CO INC COM 884768102 96,~~742~~250 720,000 SH DEFINED 1,2 720,000 0 0 TOREADOR RES CORP COM 891050106 1,420 173,569 SH DEFINED 1,2 173,569 0 0 TRANSOCEAN LTD REG SHS H8817H100 9,286 107,500 SH DEFINED 1,2 107,500 0 0 ULTRA PETROLEUM CORP COM 903914109 3,122 66,957 SH DEFINED 1,2 66,957 0 0 UR ENERGY INC COM 91688R108 ~~985~~915 1,172,500 SH DEFINED 1,2 1,172,500 0 0 URANERZ ENERGY CORPORATION COM 91688T104 32,~~720~~080 2,000,000 SH DEFINED 1,2 2,000,000 0 0 VALE SAS.A ADR 91912E105 169,~~620~~406 ~~516~~386,300 SH DEFINED 1,2 ~~516~~386,300 0 0 VENOCO INC COM 92275P307 1622,~~550~~879 1,~~289~~389,~~929~~110 SH DEFINED 1,2 1,~~289~~389,~~929~~110 0 0 WEATHERFORD INTERNATIONAL LT REG H27013103 1411,~~271~~824 899,839 SH DEFINED 1,2 899,839 0 0 YAMANA GOLD INC COM 98462Y100 4,~~543~~750 461,200 SH DEFINED 1,2 461,200 0 0

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