13F-HR 1 form13fallfiles12312008.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: 12/31/2008 Check here if Amendment [ ]; Amendment Number: 1 This Amendment (Check only one): [ ] is a restatement [ ] adds a new holdings entries Institutional Investment Manager Filing this Report: Name: PROXIMA ALFA INVESTMENTS (USA) LLC Address: 623 FIFTH Avenue 14th Floor New York, NY 10022 Form 13F File Number: 28-11948 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: Werner Graser Title: Chief Compliance Officer Phone: (212) 754-9757 Signature, Place, and Date of Signing: __________________________ _________________________ ___________ [Signature] [City, State] [Date] Report Type (Check only one) [ X ] 13F HOLDINGS REPORT. (Check here if all holdings of the 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: 0 Form 13F Information Table Entry Total: 72 Form 13F Information Table Value Total: 223475 (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. NONE 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" "Investment Discretion" "Other Managers" Sole Shared None POTASH CORP OF SASKATCHEWAN COM 73755L107 2001 27325 SH Y N Y N None COMPASS MINERALS INTERNATION COM 20451N101 1924 32800 SH Y N Y N None EXXON MOBIL CORPORATION COM 30231G102 3690 46218 SH Y N Y N None ARENA RESOURCES INC COM 040049108 1615 57476 SH Y N Y N None NUCOR CORP COM 670346105 4232 91595 SH Y N Y N None GOLDCORP INC COM 380956409 3864 122540 SH Y N Y N None NATIONAL OILWELL VARCO INC COM 637071101 3424 140104 SH Y N Y N None PETROHAWK ENERGY CORP COM 716495106 3318 212300 SH Y N Y N None KINROSS GOLD CORP COM 496902404 3950 214447 SH Y N Y N None WEATHERFORD INTL LTD COM G95089101 2664 246231 SH Y N Y N None JA SOLAR HOLDINGS CO LTD ADR 466090107 2081 476227 SH Y N Y N None

Voting Authority Name of Issuer Title of Class CUSIP " Value (x$1000) " SHS "SH/ PRN" "PUT/ CALL" "Investment Discretion" "Other Managers" Sole Shared None 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" "Investment Discretion" "Other Managers" Sole Shared None NETEZZA CORP COM 64111N101 1 100 SH Y N Y N None GRANITE CONSTRUCTION INC COM 387328107 18 400 SH Y N Y N None SYNAPTICS INC COM 87157D109 8 500 SH Y N Y N None GEOEYE INC COM 37250W108 17 900 SH Y N Y N None MAXIM INTEGRATED PRODUCTS COM 57772K101 10 900 SH Y N Y N None OPEN TEXT CORP COM 683715106 27 900 SH Y N Y N None QUALCOMM INC COM 747525103 36 1000 SH Y N Y N None EZCORP INC CLASS A COM 302301106 18 1200 SH Y N Y N None MONRO MUFFLER INC COM 610236101 38 1500 SH Y N Y N None PAYCHEX INC COM 704326107 39 1500 SH Y N Y N None ANALOG DEVICES COM 032654105 38 2000 SH Y N Y N None KELLY SERVICES COM 488152208 26 2000 SH Y N Y N None COSTCO WHOLESALE CORP COM 22160K105 472 9000 SH Y N Y N None GOLDMAN SACHS GROUP INC COM 38141G104 844 10000 SH Y N Y N None AMAZON.COM INC COM 023135106 805 15700 SH Y N Y N None US BANCORP COM 902973304 495 19800 SH Y N Y N None AUTOZONE INC COM 053332102 2789 20000 SH Y N Y N None POTASH CORP OF SASKATCHEWAN COM 73755L107 1772 24200 SH Y N Y N None COLGATE-PALMOLIVE CO COM 194162103 1748 25500 SH Y N Y N None CELGENE CORP COM 151020104 1885 34100 SH Y N Y N None PRUDENTIAL FINANCIAL INC COM 744320102 1056 34900 SH Y N Y N None INTL BUSINESS MACHINES CORP COM 459200101 3452 41022 SH Y N Y N None FACET BIOTECH CORP COM 30303Q103 420 43761 SH Y N Y N None APOLLO GROUP INC CLA 037604105 3448 45000 SH Y N Y N None ITT EDUCATIONAL SERVICES INC COM 45068B109 4274 45000 SH Y N Y N None CATERPILLAR INC COM 149123101 2144 48000 SH Y N Y N None COCA COLA CO/THE COM 191216100 2263 50000 SH Y N Y N None JOHNSON & JOHNSON COM 478160104 2991 50000 SH Y N Y N None PROCTER & GAMBLE CO COM 742718109 3091 50000 SH Y N Y N None MCDONALD'S CORP COM 580135101 3128 50300 SH Y N Y N None WAL-MART STORES INC COM 931142103 2837 50600 SH Y N Y N None BAXTER INTERNATIONAL INC COM 071813109 3231 60300 SH Y N Y N None FREEPORT-MCMORAN COPPER COM 35671D857 1589 65000 SH Y N Y N None GENERAL MILLS INC COM 370334104 4176 68737 SH Y N Y N None CHEVRON CORP COM 166764100 5178 70000 SH Y N Y N None GILEAD SCIENCES INC COM 375558103 3580 70000 SH Y N Y N None EXXON MOBIL CORPORATION COM 30231G102 6240 78160 SH Y N Y N None APPLE INC COM 037833100 7178 84100 SH Y N Y N None WELLS FARGO & CO COM 949746101 2512 85200 SH Y N Y N None PRICELINE.COM INC COM 741503403 6408 87000 SH Y N Y N None CHUBB CORPORATION COM 171232101 5100 100000 SH Y N Y N None KOHLS CORP COM 500255104 3620 100000 SH Y N Y N None TRAVELERS COS INC COM 89417E109 4520 100000 SH Y N Y N None CONOCOPHILLIPS COM 20825C104 5465 105500 SH Y N Y N None PARTNER COMMUNICATIONS ADR 70211M109 2324 140852 SH Y N Y N None ONYX PHARMACEUTICALS INC COM 683399109 5129 150161 SH Y N Y N None MCDERMOTT INTL INC COM 580037109 1567 158600 SH Y N Y N None PETROLEO BRASILEIRO ADR 71654V408 3996 163184 SH Y N Y N None BRASIL TELECOM SA ADR 10553M101 3086 172186 SH Y N Y N None MCKESSON CORP COM 58155Q103 6971 180000 SH Y N Y N None COMMSCOPE INC COM 203372107 3108 200000 SH Y N Y N None HEWLETT-PACKARD CO COM 428236103 7298 201100 SH Y N Y N None PDL BIOPHARMA INC COM 69329Y104 1352 218809 SH Y N Y N None KRAFT FOODS INC-A COM 50075N104 6686 249000 SH Y N Y N None NRG ENERGY INC COM 629377508 6430 275619 SH Y N Y N None ARCH COAL INC COM 039380100 4887 300000 SH Y N Y N None AT&T INC COM 00206R102 10317 362000 SH Y N Y N None

Column 1 Column 2 Column 3 Column 4 Column 5 Column 6 Column 7 Column 8 Name of Issuer Title of Class CUSIP " Value (x$1000) " SHS "SH/ PRN" "PUT/ CALL" "Investment Discretion" POTASH CORP OF SASKATCHEWAN COM 73755L107 1665 22610 SH Y N Y N None COMPASS MINERALS INTERNATION COM 20451N101 1596 27200 SH Y N Y N None EXXON MOBIL CORPORATION COM 30231G102 3057 38299 SH Y N Y N None ARENA RESOURCES INC COM 040049108 1334 47482 SH Y N Y N None NUCOR CORP COM 670346105 3507 75900 SH Y N Y N None GOLDCORP INC COM 380956409 3212 101872 SH Y N Y N None NATIONAL OILWELL VARCO INC COM 637071101 2836 116045 SH Y N Y N None PETROHAWK ENERGY CORP COM 716495106 2748 175842 SH Y N Y N None KINROSS GOLD CORP COM 496902404 3270 177529 SH Y N Y N None WEATHERFORD INTL LTD COM G95089101 2204 203769 SH Y N Y N None JA SOLAR HOLDINGS CO LTD ADR 466090107 1724 394448 SH Y N Y N None

Column 1 Column 2 Column 3 Column 4 Column 5 Column 6 Column 7 Column 8 Name of Issuer Title of Class CUSIP " Value (x$1000) " SHS "SH/ PRN" "PUT/ CALL" "Investment Discretion" CADBURY PLC ADR 12721E102 571 16000 SH Y N Y N None CHIPOTLE MEXICAN GRILL CLA 169656105 310 5000 SH Y N Y N None HOME DEPOT COM 437076102 230 10000 SH Y N Y N None MCDONALDS CORP COM 580135101 311 5000 SH Y N Y N None

PROXIMA ALFA INVESTMENTS (USA) LLC 13F-HR