13F-HR 1 form13fallfiles03312006.txt UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washingoton, D.C. 20549 FORM 13F FORM 13F COVER PAGE Report for the Calendar Year or Quarter Ended: 3/31/06 Check here if Amendment [ ]; Amendment Number: ______ This Amendment (Check only one): [ ] is a restatement [ ] adds a new holdings entries Institutional Investment Manager Filing this Report: Name: VegaPlus Capital Partners (USA) LLC Address: 375 Park Avenue 29th Floor New York, NY 10152 Form 13F File Number: 28--____________ 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: Andrew E. Feldman Title: General Counsel Phone: (646) 367-2822 Signature, Place, and Date of Signing: Andrew E. Feldman New York, NY June 14, 2006 __________________________ _________________________ ___________ [Signature] [City, State] [Date] Report Type (Check only one) [ X ] 13F HOLDINGS REPORT. (Check here if all holdings of thie 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: [If there are no entries in this list, omit this section.] Form 13F File Number Name 28--_______________ _____________________________________ [Repeat as necessary] FORM 13F SUMMARY PAGE Report Summary: Number of Other Included Managers: 0 Form 13F Information Table Entry Total: 171 Form 13F Information Table Value Total: 219,947 (thousands) List of Other Included Managers: Provide a numbered list of the name(s) and Form 13F file number(s) of all insitutional 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. Form 13F File Number None ____ _____________________ _______________________ [Repeat as necessary] Column 1 Column 2 Column 3 Column 4 Column 5 Column 6 Column 7 Column 8 Voting Authority Name of Issuer Title of Class CUSIP " Value(x$1000) " SHS "SH/PRN""PUT/CALL""Invest- Other ment Mana- Discre- gers tion" Sole Shared None ARENA RESOURCES INC COM 040049108 " 3,490.00 " " 100,000.00 " SH Y N Y N N BAKER HUGHES INC COM 057224107 " 2,736.00 " " 40,000.00 " SH Y N Y N N EXELON CORPORATION COM 30161N101 " 2,645.00 " " 50,000.00 " SH Y N Y N N HOS COM 440543106 " 3,607.00 " " 100,000.00 " SH Y N Y N N KERR-MCGEE CORP COM 492386107 " 2,864.40 " " 30,000.00 " SH Y N Y N N OIS COM 678026105 " 1,842.50 " " 50,000.00 " SH Y N Y N N PHELPS DODGE CORP COM 717265102 " 3,221.20 " " 40,000.00 " SH Y N Y N N PARALLEL PETROLEUM CORP COM 699157103 " 3,228.75 " " 175,000.00 " SH Y N Y N N PXP COM 726505100 " 2,318.40 " " 60,000.00 " SH Y N Y N N FREIGHTCAR AMERICA INC COM 357023100 " 1,908.00 " " 30,000.00 " SH Y N Y N N TRANSOCEAN INC. COM G90078109 " 3,212.00 " " 40,000.00 " SH Y N Y N N SEMPRA ENERGY COM 816851109 " 2,323.00 " " 50,000.00 " SH Y N Y N N TEAM INC COM 878155100 " 2,517.78 " " 75,700.00 " SH Y N Y N N TXU CORPORATION COM 873168108 " 2,238.00 " " 50,000.00 " SH Y N Y N N ENERGY SELECT SECTOR COM 81369Y506 " 14,712.35 " " 270,796.00 " SH Y N Y N N UTILITIES SLT SECT SPDR COM 81369Y886 " 15,487.82 " " 501,711.00 " SH Y N Y N N XTO ENERGY INC COM 98385X106 " 2,614.20 " " 60,000.00 " SH Y N Y N N TESCO CORP COM 992884312 " 2,201.00 " " 100,000.00 " SH Y N Y N N Subtotal: " 73,167.40 "

Column 1 Column 2 Column 3 Column 4 Column 5 Column 6 Column 7 Column 8 Voting Authority Name of Issuer Title of Class CUSIP " Value(x$1000) " SHS SH/PRN""PUT/CALL""Invest- Other ment Manag- Discre- ers tion" Sole Shared None ADOBE SYSTEMS INC COM 00724F101 265.62 " 7,600.00 " SH Y N Y N N BHP BILLITON-SPONS ADR ADR 088606108 797.00 " 20,000.00 " SH Y N Y N N CIA DE MINAS BUENAVENTUR-ADR ADR 204448104 197.52 " 8,000.00 " SH Y N Y N N INTEL CORP COM 458140100 112.87 " 5,800.00 " SH Y N Y N N JNJ US 07/06 C65 COM JNJGMGNT8 13.20 440.00 SH Call Y N Y N N JUNIPER NETWORKS INC COM JUXDEDNN2 5.00 " 1,000.00 " SH Call Y N Y N N L US 07/06 C9 COM LGLUSGNN3 15.25 " 3,050.00 " SH Call Y N Y N N MICROSOFT CORP COM 594918104 " 3,126.43 " " 114,900.00 " SH Y N Y N N NEWMONT MINING CORP COM 651639106 934.02 " 18,000.00 " SH Y N Y N N ORACLE CORP COM 68389X105 650.28 " 47,500.00 " SH Y N Y N N PROCTER & GAMBLE CO COM 742718109 288.15 " 5,000.00 " SH Y N Y N N HEALTH CARE SELECT SECTOR COM 81369Y209 " 1,492.67 " " 46,675.00 " SH Y N Y N N CONSUMER STAPLES SPDR SBI 81369Y308 " 7,859.98 " " 333,050.00 " SH Y N Y N N TAIWAN SEMICONDUCTOR-SP ADR ADR 874039100 316.89 " 31,500.00 " SH Y N Y N N Subtotal: " 16,074.87 "

Column 1 Column 2 Column 3 Column 4 Column 5 Column 6 Column 7 Column 8 Voting Authority Name of Issuer Title of Class CUSIP Value(x$1000) SHS SH/PRN PUT/CALL Invest- Other Sole Shared None ment Mana- Discre- gers tion" ALCOA INC COM 013817101 " 1,256.02 " " 41,100.00 " SH Y N Y N N APPLIED BIOSYSTEMS GROUP -APP COM 038020103 800.63 " 29,500.00 " SH Y N Y N N COMPANHIA DE BEBIDAS -PR ADR ADR 20441W203 958.01 " 22,300.00 " SH Y N Y N N AEGON N.V. COM 007924103 737.20 " 40,000.00 " SH Y N Y N N AMERICAN EAGLE OUTFITTERS COM 02553E106 865.94 " 29,000.00 " SH Y N Y N N ARMOR HOLDINGS INC COM 042260109 " 1,049.22 " " 18,000.00 " SH Y N Y N N ALCAN INC COM 013716105 " 1,499.94 " " 32,800.00 " SH Y N Y N N ADVANCED MICRO DEVICES COM 007903107 878.74 " 26,500.00 " SH Y N Y N N AMERICAN MEDICAL SYSTEM HLDGS COM 02744M108 927.00 " 41,200.00 " SH Y N Y N N AMERIPRISE FINANCIAL INC COM 03076C106 788.55 " 17,500.00 " SH Y N Y N N AMR CORP/DEL COM 001765106 189.35 " 7,000.00 " SH Y N Y N N AMERICA MOVIL-ADR SERIES L COM 02364W105 650.94 " 19,000.00 " SH Y N Y N N ANDREW CORPORATION COM 034425108 552.60 " 45,000.00 " SH Y N Y N N AMPHENOL CORP - CLASS A COM 032095101 " 1,513.22 " " 29,000.00 " SH Y N Y N N AMERICAN STANDARD COS INC COM 029712106 642.90 " 15,000.00 " SH Y N Y N N ALLTEL CORPORATION COM 020039103 971.25 " 15,000.00 " SH Y N Y N N ALLEGHENY TECHNOLOGIES INC COM 01741R102 " 1,040.06 " " 17,000.00 " SH Y N Y N N ACTUANT CORP-CL A COM 00508X203 " 1,010.13 " " 16,500.00 " SH Y N Y N N BANK OF AMERICA CORPORATION COM 060505104 " 1,161.27 " " 25,500.00 " SH Y N Y N N BANCO BRADESCO - SPONSORED ADR ADR 059460303 412.97 " 11,500.00 " SH Y N Y N N BARCLAYS PLC -SPONS ADR ADR 06738E204 " 1,357.20 " " 29,000.00 " SH Y N Y N N FRANKLIN RESOURCES INC COM 354613101 " 1,272.24 " " 13,500.00 " SH Y N Y N N WR BERKLEY CORP COM 084423102 " 1,097.33 " " 18,900.00 " SH Y N Y N N BROADCOM CORPORATION -CL A COM 111320107 " 1,769.56 " " 41,000.00 " SH Y N Y N N ANHEUSER-BUSCH COS INC COM 035229103 855.40 " 20,000.00 " SH Y N Y N N "BEAZER HOMES USA, INC." COM 07556Q105 965.79 " 14,700.00 " SH Y N Y N N CONTINENTAL AIRLINES CL B COM 210795308 365.84 " 13,600.00 " SH Y N Y N N COOPER CAMERON CORP COM 216640102 872.78 " 19,800.00 " SH Y N Y N N CATERPILLAR INC COM 149123101 294.42 " 4,100.00 " SH Y N Y N N CHICO'S FAS INC COM 168615102 812.80 " 20,000.00 " SH Y N Y N N CEMIG CIA ENERGY - ADR ADR 204409601 345.57 " 7,600.00 " SH Y N Y N N CLEVELAND-CLIFFS INC. COM 185896107 " 1,280.66 " " 14,700.00 " SH Y N Y N N COMMERCIAL METALS CO COM 201723103 994.91 " 18,600.00 " SH Y N Y N N CUMMINS INC COM 231021106 956.41 " 9,100.00 " SH Y N Y N N COACH INC COM 189754104 912.91 " 26,400.00 " SH Y N Y N N CPFL ENERGIA SA-ADR ADR 126153105 630.00 " 15,000.00 " SH Y N Y N N CITRIX SYSTEMS INC COM 177376100 " 1,114.26 " " 29,400.00 " SH Y N Y N N DR HORTON INC COM 23331A109 857.08 " 25,800.00 " SH Y N Y N N DOW CHEMICAL COM 260543103 812.00 " 20,000.00 " SH Y N Y N N DIGITAL RIVER INC COM 25388B104 627.98 " 14,400.00 " SH Y N Y N N ELECTRONIC DATA SYSTEMS CORP COM 285661104 850.51 " 31,700.00 " SH Y N Y N N ESCALA GROUP INC COM 29605W107 65.37 " 2,496.00 " SH Y N Y N N ITT EDUCATIONAL SERVICES INC COM 45068B109 807.03 " 12,600.00 " SH Y N Y N N ESTERLINE TECHNOLOGIES CORP COM 297425100 525.83 " 12,300.00 " SH Y N Y N N EATON CORPORATION COM 278058102 802.67 " 11,000.00 " SH Y N Y N N FREEPORT-MCMORAN COPPER-B COM 35671D857 717.24 " 12,000.00 " SH Y N Y N N FIRST DATA CORPORATION COM 319963104 " 1,404.60 " " 30,000.00 " SH Y N Y N N FACTSET RESEARCH SYSTEMS INC COM 303075105 478.98 " 10,800.00 " SH Y N Y N N FOMENTO ECONOMICO MEX - SP ADR ADR 344419106 " 1,750.71 " " 19,100.00 " SH Y N Y N N FANNIE MAE COM 313586109 " 1,850.40 " " 36,000.00 " SH Y N Y N N FOREST LABORATORIES INC COM 345838106 " 1,562.05 " " 35,000.00 " SH Y N Y N N FRONTIER OIL CORP COM 35914P105 919.93 " 15,500.00 " SH Y N Y N N GILDAN ACTIVEWEAR INC -CL A COM 375916103 798.34 " 16,800.00 " SH Y N Y N N GILEAD SCIENCES INC COM 375558103 " 1,119.96 " " 18,000.00 " SH Y N Y N N CORNING INC COM 219350105 " 1,097.93 " " 40,800.00 " SH Y N Y N N GOL LINHAS AEREAS INTEL-ADR ADR 38045R107 536.00 " 20,000.00 " SH Y N Y N N GLOBAL PAYMENTS INC COM 37940X102 " 1,150.32 " " 21,700.00 " SH Y N Y N N GOLDMAN SACHS GROUP INC COM 38141G104 784.80 " 5,000.00 " SH Y N Y N N HALLIBURTON COMPANY COM 406216101 " 1,051.49 " " 14,400.00 " SH Y N Y N N HANSEN NATURAL CORP COM 411310105 " 1,474.79 " " 11,700.00 " SH Y N Y N N HEALTH NET INC COM 42222G108 985.91 " 19,400.00 " SH Y N Y N N HONEYWELL INTERNATIONAL INC COM 438516106 855.40 " 20,000.00 " SH Y N Y N N HEWLETT-PACKARD CO COM 428236103 149.70 " 45,500.00 " SH Y N Y N N INTERNATIONAL PAPER CO COM 460146103 691.40 " 20,000.00 " SH Y N Y N N INTERNATIONAL POWER PLC-ADR ADR 46018M104 950.53 " 19,300.00 " SH Y N Y N N INGERSOLL-RAND CO - CL A COM G4776G101 952.81 " 22,800.00 " SH Y N Y N N JOHNSON CONTROLS INC COM 478366107 " 1,693.24 " " 22,300.00 " SH Y N Y N N JONES LANG LASALLE INC COM 48020Q107 " 1,859.92 " " 24,300.00 " SH Y N Y N N JP MORGAN CHASE & CO. COM 46625H100 " 1,290.84 " " 31,000.00 " SH Y N Y N N KB HOME COM 48666K109 955.21 " 14,700.00 " SH Y N Y N N KIMCO REALTY CORP COM 49446R109 658.37 " 16,200.00 " SH Y N Y N N KINDER MORGAN INC COM 49455P101 505.95 " 5,500.00 " SH Y N Y N N KOMAG INC COM 500453204 " 1,794.52 " " 37,700.00 " SH Y N Y N N KONINKIJKE KPN NV-SP ADR ADR 780641205 " 1,302.84 " " 115,500.00 " SH Y N Y N N LONE STAR TECHNOLOGIES INC COM 542312103 " 1,108.20 " " 20,000.00 " SH Y N Y N N MICROCHIP TECHNOLOGY INC COM 595017104 " 1,000.79 " " 27,570.00 " SH Y N Y N N MERRILL LYNCH & CO INC COM 590188108 " 1,102.64 " " 14,000.00 " SH Y N Y N N MESA AIR GROUP INC COM 590479101 696.70 " 60,900.00 " SH Y N Y N N MONEYGRAM INTERNATIONAL INC COM 60935Y109 " 1,247.23 " " 40,600.00 " SH Y N Y N N MIDDLEBY CORP COM 596278101 881.40 " 10,528.00 " SH Y N Y N N MIRANT CORP COM 60467R100 900.00 " 36,000.00 " SH Y N Y N N MOTOROLA INC COM 620076109 " 1,374.60 " " 60,000.00 " SH Y N Y N N MERCK & CO. INC. COM 589331107 " 1,268.28 " " 36,000.00 " SH Y N Y N N MARATHON OIL CORP COM 565849106 " 1,523.40 " " 20,000.00 " SH Y N Y N N MICROSTRATEGY INC -CL A COM 594972408 " 1,579.35 " " 15,000.00 " SH Y N Y N N MEADWESTVACO CORP COM 583334107 546.20 " 20,000.00 " SH Y N Y N N MAXIM INTEGRATED PRODUCTS COM 57772K101 " 1,114.50 " " 30,000.00 " SH Y N Y N N INCO LTD COM 453258402 898.02 " 18,000.00 " SH Y N Y N N NEW CENTURY FINANCIAL CORP COM 6435EV108 920.40 " 20,000.00 " SH Y N Y N N NEWFIELD EXPLORATION COMPANY COM 651290108 812.86 " 19,400.00 " SH Y N Y N N NELNET INC-CL A COM 64031N108 649.74 " 15,600.00 " SH Y N Y N N NS GROUP INC COM 628916108 400.46 " 8,700.00 " SH Y N Y N N NUCOR CORP COM 670346105 796.40 " 7,600.00 " SH Y N Y N N NVIDIA CORP COM 67066G104 " 1,431.50 " " 25,000.00 " SH Y N Y N N OIL STATES INTERNATIONAL INC. COM 678026105 829.13 " 22,500.00 " SH Y N Y N N OCCIDENTAL PETROLEUM CORP COM 674599105 852.38 " 9,200.00 " SH Y N Y N N PHELPS DODGE CORP COM 717265102 " 1,264.32 " " 15,700.00 " SH Y N Y N N PEPSICO INC COM 713448108 " 1,438.97 " " 24,900.00 " SH Y N Y N N PFIZER INC COM 717081103 " 1,146.32 " " 46,000.00 " SH Y N Y N N PHILIPS ELECTRONICS-NY SHR COM 500472303 " 1,009.50 " " 30,000.00 " SH Y N Y N N PHILADELPHIA CONS HLDG C COM 717528103 727.18 " 21,300.00 " SH Y N Y N N QUANTA SERVICES INC COM 74762E102 788.18 " 49,200.00 " SH Y N Y N N QLOGIC CORP COM 747277101 826.25 " 42,700.00 " SH Y N Y N N REYNOLDS AMERICAN INC COM 761713106 " 1,234.35 " " 11,700.00 " SH Y N Y N N TRANSOCEAN INC. COM G90078109 " 1,084.05 " " 13,500.00 " SH Y N Y N N RELIANCE STEEL & ALUMINUM CO. COM 759509102 798.32 " 8,500.00 " SH Y N Y N N RYLAND GROUP INC COM 783764103 " 1,068.76 " " 15,400.00 " SH Y N Y N N CIA SANEAMENTO BASICO DE-ADR ADR 20441A102 396.18 " 18,000.00 " SH Y N Y N N SCHWAB (CHARLES) CORP COM 808513105 " 1,376.80 " " 80,000.00 " SH Y N Y N N SWIFT ENERGY COMPANY COM 870738101 546.92 " 14,600.00 " SH Y N Y N N SIGMA-ALDRICH COM 826552101 526.32 " 8,000.00 " SH Y N Y N N SCHLUMBERGER LTD COM 806857108 " 1,265.70 " " 10,000.00 " SH Y N Y N N SONY CORP-SPONSORED ADR ADR 835699307 " 1,575.59 " " 34,200.00 " SH Y N Y N N SUNRISE SENIOR LIVING INC COM 86768K106 459.85 " 11,800.00 " SH Y N Y N N CONSTELLATION BRANDS INC-A COM 21036P108 " 1,002.00 " " 40,000.00 " SH Y N Y N N TIDEWATER INC COM 886423102 " 1,082.51 " " 19,600.00 " SH Y N Y N N TEVA PHARMACEUTICAL - SP ADR ADR 881624209 " 1,235.40 " " 30,000.00 " SH Y N Y N N TEREX CORP COM 880779103 927.11 " 11,700.00 " SH Y N Y N N HANOVER INSURANCE GROUP INC COM 410867105 812.51 " 15,500.00 " SH Y N Y N N TELLABS INC COM 879664100 874.50 " 55,000.00 " SH Y N Y N N NOVAMERICAN STEEL INC COM 669959108 487.07 " 10,600.00 " SH Y N Y N N SABRE HOLDINGS CORP COM 785905100 " 1,000.03 " " 42,500.00 " SH Y N Y N N TIM PARTICIPACOES SA-ADR ADR 88706P106 " 1,084.98 " " 29,300.00 " SH Y N Y N N UAL CORP COM 902549807 " 1,209.88 " " 30,300.00 " SH Y N Y N N UNIBANCO-GDR COM 90458E107 " 1,042.13 " " 14,100.00 " SH Y N Y N N UNIMPROVIDENT CORP COM 91529Y106 301.06 " 14,700.00 " SH Y N Y N N URS CORP COM 903236107 615.83 " 15,300.00 " SH Y N Y N N USG CORP COM 903293405 " 1,699.78 " " 17,900.00 " SH Y N Y N N UNITED SURGICAL PARTNERS COM 913016309 17.71 500.00 SH Y N Y N N VARIAN MEDICAL SYSTEMS INC COM 92220P105 " 1,297.30 " " 23,100.00 " SH Y N Y N N VALUECLICK INC. COM 92046N102 590.34 " 34,890.00 " SH Y N Y N N VALERO ENERGY CORP COM 91913Y100 597.80 " 10,000.00 " SH Y N Y N N VERTEX PHARMACEUTICALS INC. COM 92532F100 969.64 " 26,500.00 " SH Y N Y N N VENTIV HEALTH INC COM 922793104 891.72 " 26,843.00 " SH Y N Y N N ENCORE WIRE CORP COM 292562105 508.20 " 15,000.00 " SH Y N Y N N WASHINGTON MUTUAL INC COM 939322103 852.40 " 20,000.00 " SH Y N Y N N XILINX INC COM 983919101 771.74 " 30,312.00 " SH Y N Y N N XYRATEX LTD COM G98268108 726.58 " 23,066.00 " SH Y N Y N N ZENITH NATIONAL INSURANCE CORP COM 989390109 141.98 " 2,950.00 " SH Y N Y N N Subtotal: " 130,704.56 "

VEGAPLUS CAPITAL PARTNERS (USA) LLC 13F-HR