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, 2000
Check here if Amendment: ___; Amendment Number: ___
This Amendment (Check only one.) ___ is a restatement.
___ adds new holdings entries.
Institutional Investment Manager Filing this Report:
Name: Willow Creek Capital Management
Address: 17 E. Sir. Francis Drake Blvd., Suite 100
Larkspur, CA 94999
Form 13F File Number: 28-05387
The institutional investment manager filing this report and the person by
whom it is signed hereby represent 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: Aaron H. Braun
Title: President
Phone: 415-464-8100
Signature, Place and Date of Signing:
/s/ Aaron H. Braun Larkspur, CA May 12, 2000
Aaron H. Braun [City, State] [Date]
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).)
List of Other Managers Reporting for this Manager:
None.
<PAGE>
Form 13F SUMMARY PAGE
Report Summary:
Number of Other Included Managers: ________0___
Form 13F Information Table Entry Total: ______102___
Form 13F Information Table Value Total: __142,960___
List of Other Included Managers: None
<Page
<TABLE>
NAME OF ISSUER TITLE OF CUSIP VALUE SHARES PUT/ INV. OTHER AUTH
CLASS X1000 CALL DISC MGR SOLE SHR NONE
<C> <C>
JUMP MUSIC COMMON 8855322 87 43,478 SOLE 43,478
NATIONAL REGISTRY INC WTS COMMON NRIDWTS 50 50,000 SOLE 50,000
RADMEDIA INC COMMON 999RADMED 9 35,000 SOLE 35,000
EVERCEL INC WARRANTS COMMON 9386746 N/A 20,000 SOLE 20,000
AMERISOUIRCE HEALTH CORP-CL COMMON 03071P102 956 63,700 SOLE 63,700
AMERISOUIRCE HEALTH CORP-CL COMMON 03071P102 N/A 125,000 CALL SOLE 125,000
AMC ENTERTAINMENT INC COMMON 001669100 400 79,100 SOLE 79,100
PRINTRAK INTERNATIONAL INC COMMON 742574106 2600 200,000 SOLE 200,000
ALDILA INC COMMON 014384101 678 350,000 SOLE 350,000
ALTERNATICE RESOURCES CORP COMMON 02145R102 91 39,500 SOLE 39,500
AMERICAN MEDICAL SECUROTY COMMON 02744P101 3143 449,000 SOLE 449,000
ACT NETWORKS INC COMMON 000975102 233 23,000 SOLE 23,000
ADVANCED RADIO TELECOM COR COMMON 00754U101 1656 50,000 SOLE 50,000
ASM INTERTNATIONAL NV COMMON N07045102 1160 40,000 SOLE 40,000
BARRA INC COMMON 068313105 3028 89,400 SOLE 89,400
BORDEN CHEMICALS & PLASTIC COMMON 099541203 1190 268,100 SOLE 268,100
BORDEN CHEMICALS & PLASTIC COMMON 099541203 N/A 50,000 CALL SOLE 50,000
BARNESANDNOBLE.COM INC COMMON 067846105 755 80,000 SOLE 80,000
BARNESANDNOBLE.COM INC COMMON 067846105 N/A 37,500 CALL SOLE 37,500
BROADWING INC COMMON 111620100 1488 40,000 SOLE 40,000
BOYD GAMING CORP COMMON 103304101 988 200,000 SOLE 200,000
CARE GUIDE INC CONVERTIBLE COMMON CAREGUIDE 150 100,000 SOLE 100,000
CATALYST SEMICONDUCTOR INC COMMON 148881105 431 51,500 SOLE 51,500
CENTRAL GARDEN & PET CO COMMON 153527106 3344 338,600 SOLE 338,600
CHARLOTTE RUSSE HLDG INC COMMON 161048103 2588 151,100 SOLE 151,100
CADIZ INC COMMON 127537108 2074 244,000 SOLE 244,000
CUMULUS MEDIA INC COMMON 231082108 1222 85,000 SOLE 85,000
CUMULUS MEDIA INC COMMON 231082108 N/A 50,000 PUT SOLE 50,000
CITIZENS UTILS CO DEL COMMON 177342201 1638 100,000 SOLE 100,000
DYNAMICS RESH CORP COMMON 268057106 246 32,300 SOLE 32,300
DIAGNOSTIC RETRIEVAL SYS I COMMON 23330XI00 497 50,000 SOLE 50,000
DAISYTEK INTERNATIONAL COR COMMON 234053106 204 12,900 SOLE 12,900
EGREETINGS NETWORK INC COMMON 282343102 156 27,500 SOLE 27,500
ESS TECHNOLOGY INC COMMON 269153106 1400 80,000 SOLE 80,000
FREQUENCY ELECTRONICS INC COMMON 358010106 2427 133,000 SOLE 133,000
FIRST HEALTH GROUP CORP COMMON 320960107 2345 74,150 SOLE 74,150
FOUNDATION HEALTH SYSTEMS COMMON 350404109 1320 165,000 SOLE 165,000
FINISH LINE INC-CL A COMMON 3179231000 1472 151,000 SOLE 151,000
FORWARD INDUSTRIES INC-N.Y. COMMON 349862300 338 108,000 SOLE 108,000
GENTIA SOFTWARE PLC COMMON 37245A104 1348 132,600 SOLE 132,600
GP STRATEGIES CORP COMMON 36225V104 717 173,700 SOLE 173,700
HOOPER HOLMES INC COMMON 439104100 2059 60,000 SOLE 60,000
INSURANCE AUTO AUCTIONS IN COMMON 457875102 2735 162,100 SOLE 162,100
INTERSTATE BAKERIES CORP-D COMMON 46072W108 713 50,000 SOLE 50,000
PACKAGED INCE INC COMMON 695148106 798 177,300 SOLE 177,300
INFORMATION HLDGS INC COMMON 456727106 470 15,000 SOLE 15,000
INGRAM MICRO INC CL A COMMON 457153104 1538 100,000 SOLE 100,000
INTELLIGROUP INC COMMON 45816A106 595 20,000 SOLE 20,000
KEITHLEY INSTRUMENTS INC COMMON 487584104 1905 40,000 SOLE 40,000
KULICKE & SOFFA INDUSTRIES COMMON 501242101 1922 30,000 SOLE 30,000
KAISER VENTURES INC COMMON 483100103 8089 575,200 SOLE 575,200
LASER-PACIFIC MEDIA CORP COMMON 517923108 1172 197,400 SOLE 197,400
MONARCH CASINO & RESORT COMMON 609027107 1052 300,700 SOLE 300,700
MIAMI COMPUTER SUPPLY CORP COMMON 593261100 1098 35,000 SOLE 35,000
MOBILE MINI INC COMMON 60740F105 1289 66,100 SOLE 66,100
MIRAGE RESORTS INC COMMON 60462E104 3391 175,000 SOLE 175,000
MKS INSTRUMENTS INC COMMON 55306N104 1414 28,000 SOLE 28,000
MOVIE STAR INC COMMON 624591103 190 190,000 SOLE 190,000
BAYCORP HLDGS CORP COMMON 072728108 1740 80,000 SOLE 80,000
MAXTOR CORP COMMON 577729205 2911 225,000 SOLE 225,000
MAXTOR CORP COMMON 577729205 N/A 155,000 CALL SOLE 155,000
NAUTICA ENTERPRISES INC COMMON 639089101 6370 542,100 SOLE 542,100
NEXMED INC COMMON 652903105 4429 279,000 SOLE 279,000
NEW FRONTIER MEDIA INC COMMON 644398109 785 67,500 SOLE 67,500
INSIGHT ENTERPRISES INC COMMON 457650103 1640 45,000 SOLE 45,000
NS GROUP INC COMMON 628916108 1631 100,000 SOLE 100,000
NTN COMMUNICATIONS INC NEW COMMON 629410309 600 150,000 SOLE 150,000
PHARMCHEM LABORATORIES INC COMMON 717133102 1946 502,100 SOLE 502,100
PETPLANET.COM INC WARRANTS COMMON PETPLWTS 300 250,000 CALL SOLE 250,000
PHOTOTRONIC INC COMMON 719405102 2825 80,000 SOLE 80,000
PLIANT SYS INC COMMON 729138107 662 76,700 SOLE 76,700
PENN OCTANE CORP COMMON 707573101 468 49,600 SOLE 49,600
POTOMAC ELECTRONIC POWER C COMMON 737679100 4638 205,000 SOLE 205,000
PREVIO INC COMMON 74138B105 2064 227,700 SOLE 227,700
P.A.M. TRANSPORTAION SERVI COMMON 693149106 3342 330,100 SOLE 330,100
P.A.M. TRANSPORTAION SERVI COMMON 693149106 N/A 55,000 CALL SOLE 55,000
PLAYTEX PRODUCTS INC COMMON 72813P100 3575 275,000 SOLE 275,000
QUALITY SYSTEMS INC COMMON 747582104 1220 80,000 SOLE 80,000
RAWLINGS SPORTING GOODS CO COMMON 754459105 360 80,000 SOLE 80,000
READ RITE CORP COMMON 755246105 328 70,000 SOLE 70,000
RELM WIRELESS CORP COMMON 759525108 740 160,000 SOLE 160,000
POLO RALPH LAUREN CORP-CL COMMON 731572103 3504 187,500 SOLE 187,500
RAINBOW TECHNOLOGIES INC COMMON 750862104 908 24,300 SOLE 24,300
RAINBOW TECHNOLOGIES INC COMMON 750862104 N/A 200,000 CALL SOLE 200,000
SAFECO CORP COMMON 786429100 1055 39,700 SOLE 39,700
INVIVO CORP COMMON 461858102 3816 318,000 SOLE 318,000
SHOP AT HOME COMMON 825066301 1509 175,000 SOLE 175,000
SHOP AT HOME COMMON 825066301 N/A 200,000 CALL SOLE 200,000
SHOP AT HOME COMMON 825066301 N/A 100,000 CALL SOLE 100,000
SOLA INTERNATIONAL INC COMMON 834092108 1746 285,000 SOLE 285,000
SPECTRUM CONTROL COMMON 847615101 3375 293,500 SOLE 293,500
STROUDS INC COMMON 863451100 112 44,800 SOLE 44,800
TRIDENT MICROSYSTEMS INC COMMON 895919108 721 68,700 SOLE 68,700
TRIDENT MICROSYSTEMS INC COMMON 895919108 N/A 400,000 CALL SOLE 400,000
TITAN CORP COMMON 888266103 2530 49,600 SOLE 49,600
TITAN CORP COMMON 888266103 N/A 75,000 CALL SOLE 75,000
TYCO INTERNATIONAL LTD NEW COMMON 902124106 2005 40,000 SOLE 40,000
UNITED INDUSTRAIL CORP COMMON 910671106 478 47,800 SOLE 47,800
USDATA CORP COMMON 917294100 444 30,000 SOLE 30,000
WEBFINANCIAL CORP COMMON 94767P100 252 50,000 SOLE 50,000
WICKES LUMBER CO COMMON 967446105 3094 513,000 SOLE 513,000
XICOR COMMON 984903104 1978 140,000 SOLE 140,000
</TABLE>
ETR\4023\003\1086633.01
