13F-HR 1 d13fhr.txt FORM 13F UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. Form 13F Form 13F COVER PAGE Report for the Calendar Year or Quarter Ended: December 31, 2008 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: Absolute Return Investors, LLC* Address: 111 Huntington Avenue Boston, Massachusetts 02199 Form 13F File Number: 28-12300 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: Michael F. Goss Title: Managing Member Phone: (617) 516-2000 Signature, Place, and Date of Signing: /s/ Michael F. Goss Boston, MA 2/17/09 ----------------------- ------------- ------- [Signature] [City, State] [Date] * Absolute Return Investors, LLC is the general partner of Absolute Return Investors, L.P., the general partner of Absolute Return Capital Partners, L.P. Michael F. Goss is the managing member of Absolute Return Investors, LLC. 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 File Number Name -------------------- ---------------------- 28- [Repeat as necessary.] Form 13F SUMMARY PAGE Report Summary: Number of Other Included Managers: 2 Form 13F Information Table Entry Total: 204 Form 13F Information Table Value Total: 206,535 (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. No. Form 13F File Number Name --- -------------------- -------------------------------------- 1 28-12297 Absolute Return Capital Partners, L.P. 2 28-12301 Absolute Return Investors, L.P. Absolute Return Investors, LLC Form 13F Information Table as of 12/31/08

HEADWATERS INC COM 42210P102 $ 191 28,312 (SOLE) (SOLE) HEALTH MGMT ASSOC INC NEW CL A 421933102 $ 98 54,670 (SOLE) (SOLE) HEALTHSPRI INC COM 42224N101 $ 494 24,727 (SOLE) (SOLE) HERBALIFE LTD COM USD SHS G4412G101 $ 1,378 63,574 (SOLE) (SOLE) HORACE MANN EDUCATORS CORP N COM 440327104 $ 151 16,399 (SOLE) (SOLE) INSIGHT ENTERPRISES INC COM 45765U103 $ 245 35,491 (SOLE) (SOLE) INTEGRATED DEVICE TECHNOLOGY COM 458118106 $ 249 44,392 (SOLE) (SOLE) INTERSIL CORP CL A 46069S109 $ 169 18,392 (SOLE) (SOLE) INVENTIV HEALTH INC COM 4.61E+109 $ 145 12,545 (SOLE) (SOLE) INVESTMENT TECHNOLOGY GRP NE COM 46145F105 $ 272 11,968 (SOLE) (SOLE) ION GEOPHYSICAL CORP COM 462044108 $ 54 15,639 (SOLE) (SOLE) IPC HLDGS LTD ORD G4933P101 $ 1,086 36,328 (SOLE) (SOLE) ISHARES INC MSCI FRANCE 464286707 $ 2,319 110,791 (SOLE) (SOLE) ISHARES INC MSCI GERMAN 464286806 $ 5,973 310,787 (SOLE) (SOLE) ISHARES INC MSCI JAPAN 464286848 $ 6,922 722,561 (SOLE) (SOLE) ISHARES INC MSCI UTD KINGD 464286699 $ 1,151 93,961 (SOLE) (SOLE) J2 GLOBAL COMMUNICATIONS INC COM NEW 46626E205 $ 328 16,371 (SOLE) (SOLE) JABIL CIRCUIT INC COM 466313103 $ 229 33,979 (SOLE) (SOLE) JAKKS PAC INC COM 47012E106 $ 1,785 86,543 (SOLE) (SOLE) JONES APPAREL GROUP INC COM 480074103 $ 67 11,406 (SOLE) (SOLE) JONES LANG LASALLE INC COM 48020Q107 $ 278 10,051 (SOLE) (SOLE) JOS A BANK CLOTHIERS INC COM 480838101 $ 480 18,350 (SOLE) (SOLE) JOY GLOBAL INC COM 481165108 $ 1,039 45,401 (SOLE) (SOLE) K V PHARMACEUTICAL CO COM 482740206 $ 102 35,268 (SOLE) (SOLE) KEY ENERGY SVCS INC COM 492914106 $ 52 11,753 (SOLE) (SOLE) KFORCE INC COM 493732101 $ 286 37,230 (SOLE) (SOLE) KINETIC CONCEPTS INC COM NEW 49460W208 $ 1,222 63,711 (SOLE) (SOLE) KING PHARAMACEUTICALS INC COM 495582108 $ 2,280 214,647 (SOLE) (SOLE) KNOLL INC COM NEW 498904200 $ 107 11,872 (SOLE) (SOLE) KULICKE & SOFFA INDS INC COM 501242101 $ 18 10,800 (SOLE) (SOLE) LAYNE CHRISTENSEN CO COM 521050104 $ 258 10,766 (SOLE) (SOLE) LEAR CORP COM 521865105 $ 19 13,558 (SOLE) (SOLE) LEXMARK INTL NEW CL A 529771107 $ 2,149 79,894 (SOLE) (SOLE) LILLY ELI & CO COM 532457108 $ 2,380 59,105 (SOLE) (SOLE) LINCARE HLDGS INC COM 532791100 $ 1,725 64,047 (SOLE) (SOLE) LOGITECH INTL S A SHS H50430232 $ 466 30,077 (SOLE) (SOLE) MANITOWOC INC COM 563571108 $ 1,194 137,919 (SOLE) (SOLE) MAX CAPITAL GROUP LTD COM G6052F103 $ 312 17,600 (SOLE) (SOLE) MCDERMOTT INTL INC COM 580037109 $ 130 13,191 (SOLE) (SOLE) MEDCATH CORP COM 58404W109 $ 359 34,399 (SOLE) (SOLE) MEDICIS PHARMACEUTICAL CORP CL A NEW 584690309 $ 322 23,196 (SOLE) (SOLE) MEMC ELECTR MATLS INC COM 552715104 $ 1,948 136,410 (SOLE) (SOLE) METHODE ELECTRS INC COM 591520200 $ 287 42,590 (SOLE) (SOLE) MICROSTRATEGY INC CL A NEW 594972408 $ 243 6,545 (SOLE) (SOLE) MIRANT CORP NEW COM 60467R100 $ 796 42,176 (SOLE) (SOLE) MOLINA HEALTHCARE INC COM 60855R100 $ 338 19,215 (SOLE) (SOLE) MONOLITHIC PWR SYS INC COM 609839105 $ 138 10,921 (SOLE) (SOLE) MONSTER WORLDWIDE INC COM 611742107 $ 288 23,813 (SOLE) (SOLE) MOSAIC CO COM 61945A107 $ 2,604 75,259 (SOLE) (SOLE) MPS GROUP INC COM 553409103 $ 453 60,123 (SOLE) (SOLE) NATIONAL SEMICONDUCTOR CORP COM 637640103 $ 477 47,348 (SOLE) (SOLE) NCR CORP NEW COM 62886E108 $ 153 10,823 (SOLE) (SOLE) NOBLE CORPORATION SHS G65422100 $ 2,115 95,761 (SOLE) (SOLE) NUANCE COMMUNICATIONS INC COM 67020Y100 $ 204 19,736 (SOLE) (SOLE) NVIDIA CORP COM 67066G104 $ 1,679 208,010 (SOLE) (SOLE) OCCIDENTAL PETE CORP DEL COM 674599105 $ 680 11,335 (SOLE) (SOLE) OMNICELL INC COM 68213N109 $ 148 12,090 (SOLE) (SOLE) OPTIONSXPRESS HLDGS INC COM 684010101 $ 395 29,558 (SOLE) (SOLE) OSHKOSH CORP COM 688239201 $ 105 11,829 (SOLE) (SOLE) OWENS & MINOR INC NEW COM 690732102 $ 439 11,649 (SOLE) (SOLE) OXFORD INDS INC COM 691497309 $ 498 56,800 (SOLE) (SOLE) PACER INTL INC TENN COM 69373H106 $ 417 40,026 (SOLE) (SOLE) PAIN THERAPEUTICS INC COM 69562K100 $ 66 11,070 (SOLE) (SOLE) PATTERSON COMPANIES INC COM 703481101 $ 160 13,940 (SOLE) (SOLE) PERINI CORP COM 713839108 $ 1,058 45,240 (SOLE) (SOLE) ELLIS PERRY INTL INC COM 288853104 $ 105 16,568 (SOLE) (SOLE) PFIZER INC COM 717081103 $ 2,229 125,853 (SOLE) (SOLE) PLATINUM UNDERWRITERS HLDGS L COM G7127P100 $ 1,546 42,853 (SOLE) (SOLE) PRECISION DRILLING TR TR UNIT 740215108 $ 138 16,493 (SOLE) (SOLE) PREMIERE GLOBAL SVCS INC COM 740585104 $ 472 54,763 (SOLE) (SOLE) PRESTIGE BRANDS HLDGS INC COM 74112D101 $ 488 46,283 (SOLE) (SOLE) PROTECTIVE LIFE CORP COM 743674103 $ 1,691 117,809 (SOLE) (SOLE) QLOGIC CORP COM 747277101 $ 162 12,064 (SOLE) (SOLE) QUESTAR CORP COM 748356102 $ 2,099 64,220 (SOLE) (SOLE) QUESTCOR PHARMACEUTICALS INC COM 74835Y101 $ 215 23,083 (SOLE) (SOLE) QWEST COMMUNICATIONS INTL IN COM 749121109 $ 510 140,179 (SOLE) (SOLE) RADIOSHACK CORP COM 750438103 $ 244 20,400 (SOLE) (SOLE) RELIANCE STEEL & ALUMINUM CO COM 759509102 $ 407 20,417 (SOLE) (SOLE) SAPIENT CORP COM 803062108 $ 161 36,206 (SOLE) (SOLE) SEAGATE TECHNOLOGY SHS G7945J104 $ 1,428 322,444 (SOLE) (SOLE) SEI INVESTMENTS CO COM 784117103 $ 653 41,586 (SOLE) (SOLE) SEPRACOR INC COM 817315104 $ 430 39,196 (SOLE) (SOLE) SHAW GROUP INC COM 820280105 $ 2,591 126,563 (SOLE) (SOLE) SILICON IMAGE INC COM 82705T102 $ 63 14,942 (SOLE) (SOLE) SKECHERS U S A INC CL A 830566105 $ 223 17,370 (SOLE) (SOLE) SKYWEST INC COM 830879102 $ 189 10,148 (SOLE) (SOLE) SKYWORKS SOLUTIONS INC COM 83088M102 $ 174 31,394 (SOLE) (SOLE) SPIRIT AEROSYSTEMS HLDGS INC COM CL A 848574109 $ 105 10,315 (SOLE) (SOLE) STAGE STORES INC COM NEW 85254C305 $ 110 13,350 (SOLE) (SOLE) SPDR TR UNIT SER 1 78462F103 $63,412 702,703 (SOLE) (SOLE) SUPERVALU INC COM 868536103 $ 958 65,625 (SOLE) (SOLE) SWIFT ENERGY CO COM 870738101 $ 374 22,255 (SOLE) (SOLE) SYNIVERSE HLDGS INC COM 87163F106 $ 478 40,041 (SOLE) (SOLE)

TAKE-TWO INTERACTIVE SOFTWAR COM 874054109 $ 232 30,671 (SOLE) (SOLE) TELETECH HOLDINGS INC COM 879939106 $ 88 10,571 (SOLE) (SOLE) TEMPUR PEDIC INTL INC COM 88023U101 $ 141 19,833 (SOLE) (SOLE) TERADATA CORP DEL COM 88076W103 $ 209 14,117 (SOLE) (SOLE) TERRA INDS INC COM 880915103 $ 2,647 158,780 (SOLE) (SOLE) TESORO CORP COM 881609101 $ 200 15,174 (SOLE) (SOLE) TIBCO SOFTWARE INC COM 88632Q103 $ 77 14,794 (SOLE) (SOLE) TRIDENT MICROSYSTEMS INC COM 895919108 $ 121 64,099 (SOLE) (SOLE) TRUEBLUE INC COM 89785X101 $ 706 73,766 (SOLE) (SOLE) TRUSTCO BK CORP N Y COM 898349105 $ 130 13,690 (SOLE) (SOLE) UNITED AMER INDEMNITY LTD CL A 90933T109 $ 311 24,305 (SOLE) (SOLE) UNITED ONLINE INC COM 911268100 $ 327 53,808 (SOLE) (SOLE) UNITED RENTALS INC COM 911363109 $ 1,396 153,121 (SOLE) (SOLE) UNITED STATIONERS INC COM 913004107 $ 1,532 45,749 (SOLE) (SOLE) USA MOBILITY INC COM 90341G103 $ 148 12,792 (SOLE) (SOLE) VAALCO ENERGY INC COM NEW 91851C201 $ 181 24,325 (SOLE) (SOLE) VALERO ENERGY CORP NEW COM 91913Y100 $ 2,664 123,098 (SOLE) (SOLE) VIROPHARMA INC COM 928241108 $ 359 27,608 (SOLE) (SOLE) VISHAY INTERTECHNOLOGY INC COM 928298108 $ 272 79,544 (SOLE) (SOLE) WESCO FINL CORP COM 95082P105 $ 1,504 78,215 (SOLE) (SOLE) WESTERN DIGITAL CORP COM 958102105 $ 1,986 173,403 (SOLE) (SOLE) WET SEAL INC CL A 961840105 $ 175 59,027 (SOLE) (SOLE) WILLIAMS SONOMA INC COM 969904101 $ 107 13,592 (SOLE) (SOLE) XL CAP LTD CL A G98255105 $ 311 84,059 (SOLE) (SOLE)

Absolute Return Investors, LLC 13F-HR