UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM 13F
FORM 13F COVER PAGE
Report for the Calendar Year or Quarter Ended June 30, 1999
Check here if amended: [ ]; Amendment Number:
This Amendment (Check only one.): [ ] is a restatement.
[ ] add new holdings entries.
Institutional Investment Manager Filing this Report:
Name: Summit Capital Management, LLC
Address: 601 Union Street, Suite 3900
Seattle, WA 98101
Form 13F File Number: 28-7018
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: Matthew C. Rudolf
Title: Managing Director
Phone No.: 206-447-6200
Signature, Place, and Date of Signing:
Matthew C. Rudolf Seattle, Washington August 15, 1999
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).)
<PAGE>
Form 13F SUMMARY PAGE
Report Summary:
Number of Other Included Managers: 0
Form 13F Information Table Entry Total: 149
Form 13F Information Table Value Total: $268,752
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.
NONE
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<TABLE>
FORM 13F INFORMATION TABLE
COLUMN 1 COLUMN 2 COLUMN 3 COLUMN 4 COLUMN 5 COLUMN 6 COLUMN 7 COLUMN 8
- --------------------------------- -------- -------- ---------- ------------ ---------- -------- --------------------
TITLE VALUE SHRS OR SH/ PUT INVESTMENT OTHER VOTING AUTHORITY
NAME OF ISSUER OF CLASS CUSIP (x$1000) PRN AMT PRN CALL DISCRETION MANAGERS SOLE SHARED NONE
- --------------------------------- -------- -------- ---------- -------- --- ---- ---------- -------- ------ ------ ------
<S> <C> <C> <C> <S> <C>
ADOBE SYS INC COM 00724F10 -205 -2500 SH SOLE -2500
ADVANCED COMMUNICATION COM 00751B10 949 95500 SH SOLE 95500
AEP INDS INC COM COM 001031103 6002 198400 SH SOLE 198400
AK STL HLDG CORP COM COM 00154710 4424 196600 SH SOLE 196600
ALBANY INTL CORP CL A COM 01234810 2015 95939 SH OTHER 12529 83410
ALLSTATE CORP COM 020002101 4402 122700 SH SOLE 122700
AMDOCS LTD COM G0260210 4232 186000 SH SOLE 186000
AMERICAN EXPRESS CO COM COM 02581610 208 1600 SH SOLE 1600
AMERICAN HOME PRODS CP COM COM 02660910 275 4800 SH OTHER 4800
AMGEN INC COM COM 03116210 4804 78910 SH OTHER 78910
ANDRX CORP COM 03455110 -293 -3800 SH SOLE -3800
APPLIED PWR INC COM 03822510 216 7900 SH SOLE 7900
ARCHITEL SYS CORP COM 03991710 4846 510100 SH SOLE 510100
ARMCO INC COM COM 04217010 657 99100 SH SOLE 99100
ARNOLD INDUSTRIES INC COM 04259510 1910 123751 SH SOLE 123751
ARROW ELECTRONICS COM 04273510 3365 177100 SH SOLE 177100
ASSISTED LIVING CONCEPT COM 04543L10 65 22700 SH SOLE 22700
ASSOCIATED BANC CORP COM COM 04548710 281 6782 SH OTHER 6782
AT&T CORP COM COM 00195710 1876 33610 SH SOLE 33610
AULT INC COM COM 05150310 611 74600 SH SOLE 74600
AUTOLOGIC INFORMATION INTL INC COM 05280310 2376 543150 SH SOLE 543150
AVIGEN INC COM 05369010 75 12500 SH SOLE 12500
AVNET INC COM 05380710 1414 30400 SH SOLE 30400
AVNET INC CALL 32399675 -675 -15000 SH c SOLE -15000
BEAZER HOMES USA INC COM COM 07556Q10 356 15400 SH SOLE 15400
BERKSHIRE RLTY INC COM COM 084710102 7022 607310 SH SOLE 607310
BETHLEHEM STL CORP COM COM 08750910 1595 207500 SH SOLE 207500
BIRMINGHAM STL CORP COM COM 09125010 3191 750900 SH SOLE 750900
BIRNER DENTAL COM 09128310 29 11654 SH OTHER 11654
C P CLARE CORP COM COM 12615K10 1311 220875 SH SOLE 220875
CADIZ INC COM 12753710 425 45000 SH SOLE 45000
CAMPBELL SOUP CO COM COM 13442910 836 18020 SH OTHER 18020
CHAMPION ENTERPRISES COM COM 15849610 2863 153700 SH OTHER 123700 30000
CITIGROUP INC COM 17296710 428 9000 SH SOLE 9000
COHO ENERGY INC COM COM 19248110 5 10000 SH SOLE 10000
COLUMBIA/HCA CALL 28799048 -1340 -67000 SH c SOLE -67000
COLUMBIA/HCA HLTHCARE COM COM 197677107 1528 67000 SH SOLE 67000
CONSECO INC COM 20846410 1251 41100 SH SOLE 41100
CROWN AMERN RLTY TR COM 22818610 572 78200 SH SOLE 78200
CROWN CRAFTS INC COM 22830910 295 67500 SH SOLE 67500
CROWN VANTAGE INC COM 22862210 148 67500 SH SOLE 67500
CYPRESS BIOSCIENCES COM COM 23267410 67 22183 SH OTHER 22183
DETREX CORP COM 250685104 1417 226650 SH SOLE 226650
DIME BANCORP INC NEW COM COM 25429Q102 9990 496375 SH SOLE 496375
DREXLER TECHNOLOGY CP COM COM 26187610 952 100200 SH SOLE 100200
EMERITUS CORP COM COM 291005106 5901 593800 SH SOLE 593800
ESTERLINE TECHNOLOGIES COM 29742510 431 30000 SH SOLE 30000
FDX CORP COM COM 31304N10 -814 -15000 SH SOLE -15000
FISHER COS INC COM COM 33775620 4064 65025 SH SOLE 65025
FLEXSTEEL INDS INC COM COM 33938210 549 41266 SH SOLE 41266
4FRONT TECHNOLOGIES COM 35104210 178 18000 SH SOLE 18000
FRISCO BAY INDUSTRIES LTD COM 35875110 506 172250 SH SOLE 172250
FRONTIER CORP CALL 3A799239 -18320 -319400 SH c SOLE -319400
FRONTIER CORP. COM 35906P105 19959 340445 SH SOLE 340445
FRUIT OF THE LOOM LTD COM G3682L10 506 51900 SH SOLE 51900
GAP INC DEL COM COM 36476010 272 5400 SH OTHER 5400
GENUS INC COM 37246110 738 227000 SH SOLE 227000
GLATFELTER P H CO COM 377316104 1214 83000 SH SOLE 83000
GLOBAL CROSS CALL 3B599J75 -3930 -61000 SH c SOLE -61000
GLOBAL CROSSING LTD COM G3921A10 461 10807 SH SOLE 10807
GRIFFON CORP COM 39843310 3222 412400 SH SOLE 412400
GST TELECOMMUNICATIONS COM 36194210 2106 159700 SH SOLE 159700
HARRIS % HARRIS GROUP COM 41383310 900 505300 SH SOLE 505300
HEALTH RISK MGMT COM COM 421935107 4636 469458 SH SOLE 469458
HILTON HOTELS CORP COM 43284810 709 50000 SH SOLE 50000
HOLLINGER INTL CALL 46899283 -563 -37500 SH c SOLE -37500
HOLLINGER INTL INC CL A COM 43556910 5970 502750 SH SOLE 502750
HOVNANIAN ENTERPRISES CL A COM 44248720 1544 176500 SH SOLE 176500
ICG COMMUNICATIONS INC COM 44924610 4916 230000 SH SOLE 230000
INNOVATIVE GAMING CORP OF AMERICA COM 45764F10 144 79500 SH SOLE 79500
INTERMEDIA COMMUNICATN COM COM 45880110 1272 42400 SH SOLE 42400
ITC DELTACOM INC COM COM 45031T10 2122 75800 SH SOLE 75800
IXC COMMUNICATIONS INC COM 45071310 2768 70400 SH SOLE 70400
JACKPOT ENTERPRISES COM COM 46639210 675 79400 SH SOLE 79400
KAISER VENTURES INC COM 48310010 744 52200 SH SOLE 52200
KANEB SERVICES INC COM 48417010 255 59900 SH SOLE 59900
KCS ENERGY INC COM COM 48243420 123 197300 SH SOLE 197300
LECHTERS CORP COM COM 52323810 320 128000 SH SOLE 128000
LENNAR CORP COM 52605710 960 40000 SH SOLE 40000
LOUISIANA PACIFIC CORP COM 54634710 325 13600 SH SOLE 13600
LTV CORP NEW COM COM 501921100 2484 374900 SH SOLE 374900
MAIN STREET AND MAIN COM 56034530 679 197500 SH SOLE 197500
MANHATTAN ASSOCS INC COM 56275010 499 60500 SH SOLE 60500
MANPOWER INC COM 56418H10 1025 45300 SH SOLE 45300
MCI WORLDCOM, INC. COM 55268B10 3443 40000 SH SOLE 40000
MERCER INTERNATIONAL INC-SBI COM 58805610 1540 256600 SH SOLE 256600
MESA AIR GROUP INC COM 59047910 3031 403313 SH SOLE 403313
METROCALL INC COM COM 59164710 111 40400 SH SOLE 40400
MICROFINANCIAL INC COM 59507210 215 15000 SH SOLE 15000
MICROSOFT CORP CALL 5C499E20 -31261 -248700 SH c SOLE -248700
MICROSOFT CORP COM COM 594918104 34206 379272 SH OTHER 379272
MOLECULAR BIOSYSTEMS COM COM 60851310 347 142200 SH SOLE 142200
MYRIAD GENETICS INC COM COM 62855J10 528 58700 SH OTHER 48700 10000
NEW PLAN EXCEL RLTY TR COM 64805310 8676 482000 SH SOLE 482000
NEXTEL COMMUNICATIONS CL A COM 65332V10 1255 25000 SH SOLE 25000
NEXTEL COMMUNS CALL 65399879 -1400 -35000 SH c SOLE -35000
NORTHWEST AIRLS CORP COM 66728010 325 10000 SH SOLE 10000
NUCOR CORP COM COM 67034610 4269 90000 SH SOLE 90000
OCEAN ENERGY INC TEX COM 67481E10 674 70000 SH SOLE 70000
OFFICEMAX INC COM COM 67622M10 3755 312900 SH SOLE 312900
OLICOM A/S ORD K7514Y10 72 18300 SH SOLE 18300
OLSTEN CORP COM COM 68138510 170 27000 SH SOLE 27000
OREGON STL MLS INC COM COM 68607910 3587 269400 SH SOLE 269400
PAGING NETWORK INC COM COM 69554210 217 45000 SH SOLE 45000
PAXSON COMMUNICATIONS CORP COM 70423110 2370 185900 SH SOLE 185900
P-COM INC COM 69326210 827 158000 SH SOLE 158000
PERFORMANCE TECH INC COM 71376K10 2665 132400 SH SOLE 132400
PERINI CORP COM COM 71383910 97 17000 SH SOLE 17000
PFIZER INC COM 71708110 262 2400 SH OTHER 2400
PIONEER STD ELECTRS COM 72387710 826 68800 SH SOLE 68800
PITTSTON CO COM 72570188 298 31400 SH SOLE 31400
PLUM CREEK TIMBER COM 72923710 312 10000 SH SOLE 10000
POGO PRODUCING CO COM COM 730448107 3307 177554 SH SOLE 177554
POWER INTREGRATION INC COM 73927610 -731 -10000 SH SOLE -10000
PSC INC COM 69361E10 548 55800 SH SOLE 55800
PULSEPOINT COMMUNICTNS COM COM 74591310 149 25000 SH SOLE 25000
PUTNAM MASTR INTR INCM SH BEN INT COM 746909100 2089 288117 SH SOLE 288117
PYRAMID BREWERIES INC COM COM 74713510 123 62300 SH SOLE 62300
QUIPP INC COM COM 74880210 2550 196180 SH SOLE 196180
RGS ENERGY GROUP INC COM 74956K10 1081 40700 SH SOLE 40700
ROYCE MICRO-CAP TR INC COM COM 780915104 1344 159322 SH SOLE 159322
ROYCE VALUE TR INC COM COM 78091010 959 72410 SH SOLE 72410
SCIOS INC COM COM 808905103 2297 706900 SH OTHER 659600 47300
SCOTTS LIQUID GOLD INC COM COM 81020210 48 26400 SH SOLE 26400
SEMITOOL INC COM COM 81690910 250 26000 SH SOLE 26000
SHURGARD STORAGE CTRS COM 82567D104 3665 135100 SH SOLE 135100
SMITHKLINE BEECHAM PLC ADR REP ORD COM 83237830 211 3200 SH SOLE 3200
SONIC SOLUTIONS COM 83546010 93 20000 SH SOLE 20000
SPIEKER PPTYS INC COM COM 84849710 369 9500 SH OTHER 9500
STEWART&STEVENSON SVCS COM COM 860342104 3132 205350 SH SOLE 205350
TANDYCRAFTS INC COM COM 87538610 2893 798000 SH SOLE 798000
TCSI CORP COM 87233R10 77 30000 SH SOLE 30000
TERRA NOVA HLDGS LTD ORD CL A COM G87615103 7501 278450 SH SOLE 278450
THREE FIVE SYS INC COM COM 88554L10 844 61100 SH SOLE 61100
TIMKNE CO COM 8873890 975 50000 SH SOLE 50000
TRIARC COS INC CL A COM 895927101 23006 1082620 SH SOLE 1082620
TRISM INC COM 89692510 8 10000 SH SOLE 10000
U S INDS INC NEW COM COM 91208010 3043 178980 SH SOLE 178980
U S WEST INC NEW COM 91273H101 3314 56400 SH SOLE 56400
US WATS INC COM COM 90337P10 70 40000 SH SOLE 40000
USX-U S STL COM COM 90337T10 2295 85000 SH SOLE 85000
VENGOLD INC COM COM 92267K10 1 14500 SH SOLE 14500
VERAMARK TECHNOLOGIES INC COM 92335110 1989 256600 SH SOLE 256600
VIRTUALFUND COM INC COM 92825A10 103 66000 SH SOLE 66000
VISIO CORP COM 92791410 4734 124375 SH OTHER 124375
VOLT INFORMATION SCIEN COM COM 928703107 13998 611941 SH SOLE 611941
WASHINGTON MUT INC COM COM 939322103 8510 239287 SH OTHER 169150 70137
WEIRTON STL CORP COM COM 948774104 3624 1566800 SH SOLE 1566800
XTRA CORP COM 98413810 2563 55800 SH SOLE 55800
Total 268752
<PAGE>
</TABLE>
