[TEXT]
UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM 13F
FORM 13F COVER PAGE
Report for the Calendar Year or Quarter Ended March 31, 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 May 6, 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: 136
Form 13F Information Table Value Total: $225,549
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
<PAGE>
<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>
AEP INDS INC COM COM 00103110 3906 156250 SH SOLE 156250
AIRBORNE FGHT CORP COM COM 00926610 1550 50000 SH SOLE 50000
AK STL HLDG CORP COM COM 00154710 338 15000 SH SOLE 15000
ALASKA AIR GROUP INC COM COM 01165910 2551 53700 SH SOLE 53700
ALBANY INTL CORP CL A COM 01234810 1799 95939 SH OTHER 12529 83410
AMERICAN HOME PRODS CP COM COM 02660910 313 4800 SH OTHER 4800
AMERICREDIT CORP COM COM 03060R10 984 75000 SH SOLE 75000
AMGEN INC COM COM 03116210 5908 78910 SH OTHER 78910
AMKOR TECHNOLOGY INC COM 03165210 394 50000 SH SOLE 50000
AMR CORP COM 00176510 2870 49000 SH SOLE 49000
ARNOLD INDUSTRIES INC COM 04259510 1841 123751 SH SOLE 123751
ASSOCIATED BANC CORP COM COM 04548710 217 6782 SH OTHER 6782
A T & T CORP CALL 00195790 -7 -10000 SH c SOLE -10000
AT&T CORP COM COM 00195710 1788 22407 SH SOLE 22407
AULT INC COM COM 05150310 655 81900 SH SOLE 81900
AUTODESK INC COM 05276910 374 9250 SH SOLE 9250
AUTODESK INC CLL OPT 40.0000 04 CALL 05276990 -48 -20000 SH c SOLE -20000
AUTOLOGIC INFORMATION INTL INC COM 05280310 2463 511650 SH SOLE 511650
BANKBOSTON CORP COM 06605R10 1733 40000 SH SOLE 40000
BEAZER HOMES USA INC COM COM 07556Q10 218 10400 SH SOLE 10400
BERKSHIRE RLTY INC COM COM 08471010 5216 466200 SH SOLE 466200
BETHLEHEM STL CORP COM COM 08750910 876 106200 SH SOLE 106200
BIRMINGHAM STL CORP COM COM 09125010 2626 666900 SH SOLE 666900
BIRNER DENTAL COM 09128310 39 11654 SH OTHER 11654
BMC INDS INC MINN COM 05560710 532 119800 SH SOLE 119800
BOSTON SCIENTIFIC CORP COM 10113710 -203 -5000 SH SOLE -5000
C P CLARE CORP COM COM 12615K10 88 24375 SH SOLE 24375
CADIZ INC COM 12753710 280 35000 SH SOLE 35000
CAMPBELL SOUP CO COM COM 13442910 733 18020 SH OTHER 18020
CCAIR INC COM 12496910 1238 366800 SH SOLE 366800
CHAMPION ENTERPRISES COM COM 15849610 1108 57200 SH OTHER 27200 30000
CITIGROUP INC COM 17296710 383 6000 SH SOLE 6000
COHO ENERGY INC COM COM 19248110 6 10000 SH SOLE 10000
COLUMBIA/HCA HLTHCARE COM CALL 19767790 -200 -169400 SH c SOLE -169400
COLUMBIA/HCA HLTHCARE COM COM 19767710 5109 269750 SH SOLE 269750
CROWN CRAFTS INC COM 22830910 338 67500 SH SOLE 67500
CYPRESS BIOSCIENCES COM COM 23267410 79 22183 SH OTHER 22183
DETREX CORP COM 25068510 1442 228450 SH SOLE 228450
DIME BANCORP INC NEW COM CALL 25429Q90 -2 -10000 SH c SOLE -10000
DIME BANCORP INC NEW COM COM 25429Q10 9273 399900 SH SOLE 399900
EAGLE HARDWARE&GARDEN COM COM 26959B10 597 15625 SH SOLE 15625
EMERITUS CORP COM COM 29100510 4612 461200 SH SOLE 461200
EQUITY RESIDENT PPTYS SH BEN INT COM 29476L10 516 12500 SH SOLE 12500
FLEXSTEEL INDS INC COM COM 33938210 558 42500 SH SOLE 42500
FRISCO BAY INDUSTRIES LTD COM 35875110 316 114750 SH SOLE 114750
FRONTIER CORP CALL 35906P90 -16 -145100 SH c SOLE -145100
FRONTIER CORP. COM 35906P10 12956 249745 SH SOLE 249745
GAP INC DEL COM COM 36476010 242 3600 SH OTHER 3600
GENERAL ELEC CLL OPT 100.0000 0 CALL 36960490 -43 -3000 SH c SOLE -3000
GENERAL ELEC CO COM COM 36960410 564 5100 SH SOLE 5100
GENUS INC COM 37246110 277 167000 SH SOLE 167000
GLATFELTER P H CO COM 37731610 1621 144900 SH SOLE 144900
GRIFFON CORP COM 39843310 222 32300 SH SOLE 32300
GST TELECOMMUNICATIONS COM 36194210 1422 130000 SH SOLE 130000
HARRIS % HARRIS GROUP COM 41383310 281 152400 SH SOLE 152400
HEALTH RISK MGMT COM COM 42193510 3523 473658 SH SOLE 473658
HERCULES INC COM 42705610 758 30000 SH SOLE 30000
HIBERNIA CORP CL A COM 42865610 294 22300 SH SOLE 22300
HOLLINGER INTL INC CL A COM 43556910 3575 263550 SH SOLE 263550
HOVNANIAN ENTERPRISES CL A COM 44248720 1324 176500 SH SOLE 176500
ICG COMMUNICATIONS INC COM 44924610 1790 89500 SH SOLE 89500
INNOVATIVE GAMING CORP OF AMERICA COM 45764F10 85 79500 SH SOLE 79500
INTERMEDIA COMMUNICATN COM COM 45880110 658 24700 SH SOLE 24700
ITC DELTACOM INC COM COM 45031T10 2101 96300 SH SOLE 96300
JACKPOT ENTERPRISES COM COM 46639210 620 79400 SH SOLE 79400
KAISER VENTURES INC COM 48310010 545 52200 SH SOLE 52200
KANEB SERVICES INC COM 48417010 69 17000 SH SOLE 17000
KCS ENERGY INC COM COM 48243420 223 119000 SH SOLE 119000
LECHTERS CORP COM COM 52323810 276 128000 SH SOLE 128000
LTV CORP NEW COM COM 50192110 1718 319600 SH SOLE 319600
LUCASVARITY PLC SPONSORED ADR COM 54939510 1319 28450 SH SOLE 28450
MERCER INTERNATIONAL INC-SBI COM 58805610 1583 261100 SH SOLE 261100
MESA AIR GROUP INC COM 59047910 500 80000 SH SOLE 80000
METROCALL INC COM COM 59164710 122 40400 SH SOLE 40400
MGC COMMUNICATIONS COM 55276330 670 67000 SH SOLE 67000
MICROFINANCIAL INC COM 59507210 218 15000 SH SOLE 15000
MICROSOFT CORP CALL 59491890 -2760 -261300 SH c SOLE -261300
MICROSOFT CORP COM COM 59491810 21888 244216 SH OTHER 244216
MOLECULAR BIOSYSTEMS COM COM 60851310 373 142200 SH SOLE 142200
MYRIAD GENETICS INC COM COM 62855J10 501 55700 SH OTHER 48700 7000
NASH FINCH CO COM COM 63115810 250 29900 SH SOLE 29900
NEOPATH INC COM 64051710 104 26000 SH SOLE 26000
NORFOLK SOUTHERN CORP COM 65584410 1231 46675 SH SOLE 46675
NORTHWEST AIRLS CORP COM 66728010 1919 69000 SH SOLE 69000
OCEAN ENERGY INC TEX COM 67481E10 477 70000 SH SOLE 70000
OLSTEN CORP COM COM 68138510 167 27000 SH SOLE 27000
OREGON STL MLS INC COM COM 68607910 2911 278900 SH SOLE 278900
PAXSON COMMUNICATIONS CORP COM 70423110 1441 168300 SH SOLE 168300
PERFORMANCE TECH INC COM 71376K10 1153 107300 SH SOLE 107300
PERINI CORP COM COM 71383910 74 17000 SH SOLE 17000
PHARMACIA & UPJOHN INC COM 71694110 1248 20000 SH SOLE 20000
PIONEER STD ELECTRS COM 72387710 253 38600 SH SOLE 38600
PITTSTON CO COM 72570188 325 46800 SH SOLE 46800
POGO PRODUCING CO COM COM 73044810 2325 178829 SH SOLE 178829
POST PPTYS INC COM 73746410 2048 56500 SH SOLE 56500
PROFIT RECOVERY GROUP COM COM 74316810 -672 -17000 SH SOLE -17000
PSC INC COM 69361E10 288 34400 SH SOLE 34400
PULSEPOINT COMMUNICTNS COM COM 74591310 126 30000 SH SOLE 30000
PUTNAM MASTR INTR INCM SH BEN INT COM 74690910 1237 169217 SH SOLE 169217
PYRAMID BREWERIES INC COM COM 74713510 154 87800 SH SOLE 87800
QUIPP INC COM COM 74880210 3688 174600 SH SOLE 174600
RELM WIRELESS CORP COM 75952510 65 36000 SH SOLE 36000
REMEDY CORP COM 75954810 420 30000 SH SOLE 30000
ROYCE MICRO-CAP TR INC COM COM 78091510 935 125722 SH SOLE 125722
ROYCE VALUE TR INC COM COM 78091010 775 68512 SH SOLE 68512
SAFECO CORP COM COM 78642910 732 18100 SH SOLE 18100
SCIOS INC COM COM 80890510 10081 1112325 SH OTHER 1065025 47300
SCOTTS LIQUID GOLD INC COM COM 81020210 35 26400 SH SOLE 26400
SHURGARD STORAGE CTRS COM 82567D10 2790 110500 SH SOLE 110500
SONIC SOLUTIONS COM 83546010 83 20000 SH SOLE 20000
SPIEKER PPTYS INC COM COM 84849710 2882 81750 SH OTHER 51900 29850
STEWART&STEVENSON SVCS COM COM 86034210 2791 363000 SH SOLE 363000
TANDYCRAFTS INC COM COM 87538610 1783 814800 SH SOLE 814800
TCSI CORP COM 87233R10 57 30000 SH SOLE 30000
THREE FIVE SYS INC COM COM 88554L10 514 59600 SH SOLE 59600
TRIARC COS INC CL A COM 89592710 21212 1216444 SH SOLE 1216444
TRIARC COS INC CL A CALL 89592790 -6 -13500 SH c SOLE -13500
TRISM INC COM 89692510 12 10000 SH SOLE 10000
U S INDS INC NEW COM COM 91208010 2523 153480 SH SOLE 153480
US BANCORP DEL COM COM 90297310 212 6217 SH OTHER 6217
US WATS INC COM COM 90337P10 65 40000 SH SOLE 40000
USX-U S STL COM COM 90337T10 2479 105500 SH SOLE 105500
VENGOLD INC COM COM 92267K10 4 14500 SH SOLE 14500
VERAMARK TECHNOLOGIES INC COM 92335110 883 141300 SH SOLE 141300
VIRTUALFUND COM INC COM 92825A10 53 40000 SH SOLE 40000
VISIO CORP COM 92791410 8839 314275 SH OTHER 189900 124375
VISIO CORP CALL 92791490 -374 -118400 SH c SOLE -118400
VOLT INFORMATION SCIEN COM COM 92870310 6768 411749 SH SOLE 411749
WANG LABS INC NEW COM CALL 93369N90 -3 -20000 SH c SOLE -20000
WANG LABS INC NEW COM COM 93369N10 1929 98300 SH SOLE 98300
WASHINGTON MUT INC COM CALL 93932290 -4 -10000 SH c SOLE -10000
WASHINGTON MUT INC COM COM 93932210 4772 116737 SH OTHER 47100 69637
WATTS INDS INC COM 94274910 2292 169000 SH SOLE 169000
WEIRTON STL CORP COM COM 94877410 2254 1567800 SH SOLE 1567800
WELLMAN INC COM COM 94970210 2006 226000 SH SOLE 226000
WISER OIL CO DEL COM 97728410 39 17600 SH SOLE 17600
TOTAL 225549
<PAGE>
</TABLE>
