IMOSD Chipmos Technologies (Bermuda) Ltd. - Common Shares (MM)

 CUSIP No. G2110R106

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 1.(a) Names of Reporting Persons.
 DLS Capital Management, LLC


 (b) Tax ID
 27-0127949

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 2. Check the Appropriate Box if a Member of a Group (See Instructions)


 (a) []
 (b) []

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 3. SEC Use Only . . . . . . . . . . . . . . . . . . . . . . . . . .

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 4. Citizenship or Place of Organization Delaware

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 5. Sole Voting Power 7,557,300
Number of
Shares
Beneficially 6. Shared Voting Power 0
Owned by
Each Reporting
Person With 7. Sole Dispositive Power 7,557,300


 8. Shared Dispositive Power 0


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 9. Aggregate Amount Beneficially Owned by Each
 Reporting Person 7,703,900

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 10. Check if the Aggregate Amount in Row (9) Excludes
 Certain Shares (See Instructions)

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 11. Percent of Class Represented by Amount in Row (9) 6.9%

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 12. Type of Reporting Person (See Instructions)

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IA

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Item 1.


 (a) Name of Issuer
 ChipMOS Technologies Bermuda LTD

 (b) Address of Issuer's Principal Executive Offices
 No. 1 R&D Road 1/ Hsinchu Science Park/Hsinchu,
 300/Taiwan/Republic of China

Item 2.


 (a) Name of Person Filing
 DLS Capital Management, LLC

 (b) Address of Principal Business Office or, if none, Residence
 2275 Half Day Rd., Suite 135, Bannockburn, IL 60015

 (c) Citizenship
 Delaware

 (d) Title of Class of Securities
 COM

 (e) CUSIP Number
 G2110R106



Item 3. If this statement is filed pursuant to 240.13d-1(b)
 or 240.13d-2(b) or (c), check whether the person
 filing is a:

(a)[ ] Broker or dealer registered under section 15 of
 the Act (15 U.S.C. 78c)

(b)[ ] Bank as defined in section 3(a)(6) of the Act
 (15 U.S.C. 78c).

(c)[ ] Insurance company as defined in section 3(a)(19)
 of the Act (15 U.S.C. 78c).

(d)[ ] Investment company registered under section 8 of
 the Investment Company Act of 1940(15 U.S.C 80a-8).

(e)[X] An investment adviser in accordance with
 240.13d-1(b)(1)(ii)(E);

(f)[ ] An employee benefit plan or endowment fund in
 accordance with 240.13d-1(b)(1)(ii)(F);

(g)[ ] A parent holding company or control person in
 accordance with 240.13d-1(b)(1)(ii)(G);

(h)[ ] A savings associations as defined in Section 3(b)
 of the Federal Deposit Insurance Act(12 U.S.C. 1813);

(i)[ ] A church plan that is excluded from the definition
 of an investment company under
 section 3(c)(14) of the Investment Company Act
 of 1940 (15 U.S.C. 80a-3);

(j)[ ] Group, in accordance with 240.13d-1(b)(1)(ii)(J).





Item 4. Ownership.

Provide the following information regarding the aggregate number
and percentage of the class of securities of the issuer identified
in Item 1.


 (a) Amount beneficially owned: 7,703,900

 (b) Percent of class: 6.9%

 (c) Number of shares as to which the person has:

 (i) Sole power to vote or to direct the vote 7,557,300

 (ii) Shared power to vote or to direct the vote 0

 (iii) Sole power to dispose or to direct the
 disposition of 7,557,300

 (iv) Shared power to dispose or to direct the
 disposition of 0




Item 5. Ownership of Five Percent or Less of a Class

If this statement is being filed to report the fact that
as of the date hereof the reporting person has ceased to be
the beneficial owner of more than five percent of
the class of securities, check the following.[ ].



Item 6. Ownership of More than Five Percent on Behalf of Another Person.

Not applicable



Item 7. Identification and Classification of the Subsidiary
Which Acquired the Security Being Reported on By the Parent Holding
Company or Control Person.

Not applicable



Item 8. Identification and Classification of Members of the Group

Not applicable.



Item 9. Notice of Dissolution of Group

Not applicable.



Item 10. Certification


By signing below I certify that, to the best of my knowledge and
belief, the securities referred to above were not acquired and are
not held for the purpose of or with the effect of changing or influencing
the control of the issuer of the securities and were not acquired and are
not held in connection with or as a participant in any transaction having
that purpose or effect.


 SIGNATURE

After reasonable inquiry and to the best of my knowledge and belief, I
certify that the information set forth in this statement is true,
complete and correct.


 January 31, 2011
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 Date


 /s/ David L. Steinberg
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 Signature


 David L. Steinberg, Managing Member
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 Name/Title