13F-HR 1 d13fhr.txt FORM 13F - HOLDINGS REPORT UNITED STATES SECURITIES AND EXCHANGE COMMISSION WASHINGTON, D.C. 20549 Form 13F FORM 13F COVER PAGE Report for the Calendar Year or Quarter Ended: March 31, 2011 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: Tamalpais Asset Management LP Address: 3 Harbor Dr Ste. 204 Sausalito, CA 94965 Form 13F File Number: 28-12446 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: Darren Huber Title: Chief Compliance Officer Phone: 415-289-3606 Signature, Place, and Date of Signing: /s/ Darren Huber Sausalito, CA May 9, 2011 ------------------------ ------------------------ ---------------------- [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: NONE FORM 13F SUMMARY PAGE Report Summary: Number of Other Included Managers: 0 Form 13F Information Table Entry Total: 34 Form 13F Information Table Value Total: $256,434 (thousands) List of Other Included Managers: NONE 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. FORM 13F INFORMATION TABLE

~~FORM 13F INFORMATION TABLE -----------------------------------------~~ COLUMN 1 COLUMN 2 COLUMN 3 COLUMN 4 COLUMN 5 COLUMN 6 COLUMN 7 COLUMN 8 --------~~--------------------~~ ---------------- ----------- -------- ------------------ ---------- -------- ------------------ VOTING AUTHORITY VALUE SHRS OR SH/ PUT/ INVESTMENT OTHER ------------------ NAME OF ISSUER TITLE OF CLASS CUSIP (x$1000) PRN AMT PRN CALL DISCRETION MANAGERS SOLE SHARED NONE --------------~~--------------~~ ---------------- ----------- -------- -------- --- ---- ---------- -------- ---- ------ ---- ~~AT&T~~AMAZON COM INC COM ~~00206R~~023135 10 26 ~~2118~~209 ~~72080~~1160 SH SOLE SOLE ~~BOEING~~AMGEN COINC COM ~~097023~~031162 10 50 ~~248~~105 ~~3803~~1971 SH SOLE SOLE ~~CAL~~BANK ~~DIVE~~OF ~~INTL~~AMERICA ~~INC~~CORPORATION ~~NOTE~~COM ~~3.250%12/1~~060505 ~~127914~~10 AB4 51499 ~~2418~~112470 ~~2500000~~SH ~~PRN~~ SOLE SOLE CHINA MED TECHNOLOGIES INC NOTE 4.000% 8/1 169483 AC 8 ~~3687~~3846 4245000 PRN SOLE SOLE CISCO SYS INC COM 17275R 10 2 ~~2219~~7588 ~~109668~~441188 SH SOLE SOLE ~~COLGATE~~CITIGROUP ~~PALMOLIVE~~INC CO COM ~~194162~~172967 10 31 ~~145~~206 ~~1800~~46671 SH SOLE SOLE ~~DELL~~CITIGROUP INC ~~COM~~* ~~24702R~~W EXP 10/28/201 1172967 ~~1355~~23 ~~100000~~4 25 95900 SH SOLE SOLE EXELON CORP COM 30161N 10 1 ~~945~~1503 ~~22705~~36447 SH SOLE SOLE ~~FORD~~FEDEX ~~MTR~~CORP COCOM ~~DEL~~31428X *W10 ~~EXP~~6 ~~01/01/201~~87 ~~345370~~922 13SH 4SOLE ~~6561~~SOLE ~~805000~~GENERAL MTRS CO COM 37045V 10 0 12539 404100 SH SOLE SOLE ~~HOLOGIC~~GOLDMAN ~~INC~~SACHS ~~FRNT~~GROUP ~~2.000%12/1~~INC ~~436440~~COM AA38141G 910 ~~7772~~4 ~~8205000~~848 ~~PRN~~5349 SH SOLE SOLE ~~HORNBECK~~GOOGLE ~~OFFSHORE SVCS~~ INC NCL ~~FRNT~~A ~~1.625%11/1~~38259P ~~440543~~50 AE8 6345 ~~1592~~588 ~~1737000~~SH ~~PRN~~ SOLE SOLE INTEL CORP COM 458140 10 0 ~~5551~~8848 ~~263970~~438665 SH SOLE SOLE ~~JOHNSON~~INTERDIGITAL &INC ~~JOHNSON~~ COM ~~478160~~45867G 10 41 ~~2378~~501 ~~38455~~10500 SH SOLE SOLE ~~LIFEPOINT~~JOHNSON ~~HOSPITALS~~& ~~INC~~JOHNSON ~~NOTE~~COM ~~3.500%~~478160 ~~5/1~~10 ~~53219L~~4 AH9641 2162720 ~~3544~~SH ~~3500000 PRN~~ SOLE SOLE MCDONALDS CORP COM 580135 10 1 ~~309~~1270 ~~4025~~16691 SH SOLE SOLE ~~MGIC~~MERCK ~~INVT~~& ~~CORP~~CO ~~WIS~~INC ~~NOTE~~NEW ~~5.000%~~COM ~~5/0~~58933Y ~~552848~~10 AD 5 ~~11371~~7345 ~~9750000~~220583 ~~PRN~~SH SOLE SOLE MICROSOFT CORP COM 594918 10 4 ~~3545~~2969 ~~127005~~116945 SH SOLE SOLE ~~NII~~MONSANTO ~~HLDGS~~CO ~~INC~~NEW ~~NOTE~~COM ~~3.125%~~61166W ~~6/1~~10 ~~62913F AJ~~ 1 ~~8845~~457 ~~8975000~~6325 ~~PRN~~SH SOLE SOLE ~~PEPSICO~~MORGAN ~~INC~~STANLEY COM ~~713448~~NEW 10617446 44 8 ~~2040~~1259 ~~31030~~46074 SH SOLE SOLE ~~PFIZER~~NEWMONT ~~INC~~MINING CORP COM ~~717081~~651639 10 36 ~~2432~~815 ~~138877~~14932 SH SOLE SOLE ~~PHILIP~~NOVAGOLD ~~MORRIS~~RES ~~INTL~~INC NOTE 5.500% 5/1 66987E AA 5 18220 12000000 PRN SOLE SOLE PEPSICO INC COM ~~718172~~713448 10 98 ~~257~~2531 ~~4358~~39289 SH SOLE SOLE ~~PIONEER~~PROCTER ~~NAT~~& ~~RES~~GAMBLE CO ~~NOTE~~COM ~~2.875%~~742718 ~~1/1~~10 ~~723787~~9 AH7785 0126374 ~~18920~~SH ~~12376000 PRN~~ SOLE SOLE QIMONDA FIN LLC NOTE 6.750% 3/2 74732W AA 7 1158 19300000 PRN SOLE SOLE ~~SONIC~~SPDR ~~AUTOMOTIVE~~S&P ~~INC~~500 ~~NOTE~~ETF ~~5.000%10/0~~TR ~~83545G~~TR AQUNIT 578462F ~~10040~~10 ~~8000000~~3 ~~PRN~~125291 946200 SH SOLE SOLE ~~SOTHEBYS~~SOUTHEBYS NOTE 3.125% 6/1 835898 AC 1 ~~11722~~4950 ~~8000000~~3000000 PRN SOLE SOLE SOUTHERN CO COM 842587 10 7 ~~2120~~2488 ~~55460~~65290 SH SOLE SOLE ~~SPDR S&P 500 ETF TR TR UNIT 78462F 10 3 52593 416600 SH SOLE SOLE~~ STILLWATER MNG CO NOTE 1.875% 3/1 86074Q AF 9 ~~13817~~22036 ~~11775000~~18221000 PRN SOLE SOLE SYMANTEC CORP COM 871503 10 8 ~~6391~~1098 ~~381800~~59200 SH SOLE SOLE ~~TRINITY~~TARGET ~~INDS~~CORP ~~INC~~ COM ~~896522~~87612E 10 96 ~~2294~~2967 ~~86200~~59323 SH SOLE SOLE ~~UNITED~~TRINITY ~~STATES~~INDS ~~STL~~INC ~~CORP~~COM ~~NEW~~896522 ~~NOTE~~10 ~~4.000%~~9 ~~5/1~~3611 ~~912909~~98480 AESH ~~8 9780 5000000 PRN~~ SOLE SOLE ~~USEC~~WAL ~~INC~~MART ~~NOTE~~STORES ~~3.000%10/0 90333E AC 2 1808 2000000 PRN SOLE SOLE VISA~~ INC COM CL931142 A10 ~~92826C~~3 832292 943768 ~~73 1040~~ SH SOLE SOLE ~~WAL~~WELLS ~~MART~~FARGO ~~STORES~~& ~~INC~~CO NEW COM ~~931142~~949746 10 31 ~~304~~102 ~~5666~~3214 SH SOLE SOLE

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