UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM 13F
FORM 13F COVER PAGE
Report for the Calendar Year or Quarter Ended: December 31, 1999
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-____________
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 2/11/00
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:
<PAGE>
Form 13F SUMMARY PAGE
Report Summary:
Number of Other Included Managers: ________0___
Form 13F Information Table Entry Total: _______45___
Form 13F Information Table Value Total: __139,470___
List of Other Included Managers: None
<Page
<TABLE>
NAME OF ISSUER TITLE OF CUSIP VALUE SHARES INV. OTHER VOTING AUTH
CLASS X1000 DISC MGR SOLE SHR NONE
<C> <C>
FLOWSCAN INC WARRANTS CALL 8846908 75,000 N CALL SOLE 75,000
JUMP MUSIC COMMON 8855322 86 43,478 N SOLE 43,478
NATIONAL REGISTRY INC WTS CALL NRIDWTS 50 50,000 N CALL SOLE 50,000
RADMEDIA INC COMMON 999RADMED 8 35,000 N SOLE 35,000
EVERCEL INC WARRANTS CALL 9386746 20,000 N CALL SOLE 20,000
PRINTRAK INTERNATIONAL INC COMMON 742574106 975 100,000 N SOLE 100,000
AMERICAN HOME MTG HLDGS IN COMMON 02660M108 993 150,000 N SOLE 150,000
ALDILA INC COMMON 014384101 343 250,000 N SOLE 250,000
ALTERNATICE RESOURCES CORP COMMON 02145R102 1,375 250,000 N SOLE 250,000
AMERICAN MEDICAL SECUROTY COMMON 02744P101 2,577 429,500 N SOLE 429,500
ANAREN MICROWAVE INC COMMON 032744104 1,710 31,600 N SOLE 31,600
ADVANCED RADIO TELECOM COR COMMON 00754U101 1,920 80,000 N SOLE 80,000
ARROW ELECTRONICS INC COMMON 042735100 1,903 75,000 N SOLE 75,000
ATMEL CORP COMMON 049513104 2,217 75,000 N SOLE 75,000
BARRA INC COMMON 068313105 1,873 59,000 N SOLE 59,000
BORDEN CHEMICALS & PLASTIC COMMON 099541203 1,299 270,000 N SOLE 270,000
BUDGET GROUP INC COMMON 119003101 348 38,400 N SOLE 38,400
BELL MICROPRODUCTS INC COMMON 078137106 1,892 172,000 N SOLE 172,000
BEN & JERRYS HOMEMADE INC COMMON 081465106 927 37,300 N SOLE 37,300
BANYAN SYSTEMS INC COMMON 066908104 1,750 87,500 N SOLE 87,500
BULL RUN CORP COMMON 120182100 587 100,000 N SOLE 100,000
BOYD GAMING CORP COMMON 103304101 1,017 175,000 N SOLE 175,000
CATALYST SEMICONDUCTOR INC COMMON 148881105 337 100,000 N SOLE 100,000
CONCURRENT COMPUTER CORP N COMMON 206710204 1,121 60,000 N SOLE 60,000
CENTRAL GARDEN & PET CO COMMON 153527106 1,245 120,000 N SOLE 120,000
COMMUNICATIONS INTELLIGENCE COMMON 20338K106 825 100,000 N SOLE 100,000
CADIZ INC COMMON 127537108 2,165 227,900 N SOLE 227,900
CAREMARK RX INC COMMON 141705103 607 120,000 N SOLE 120,000
DYNAMICS RESH CORP COMMON 268057106 276 32,500 N SOLE 32,500
EXAR CORP COMMON 300645108 5,887 100,000 N SOLE 100,000
FREQUENCY ELECTRONICS INC COMMON 358010106 1,146 110,500 N SOLE 110,500
FIRST HEALTH GROUP CORP COMMON 320960107 2,015 75,000 N SOLE 75,000
FLEETWOOD ENERPRISES INC COMMON 339099103 618 30,000 N SOLE 30,000
FORWARD INDUSTRIES INC-N.Y. COMMON 349862300 362 111,600 N SOLE 111,600
GP STRATEGIES CORP COMMON 36225V104 1,071 175,000 N SOLE 175,000
GRC INTERNATIONAL INC COMMON 361922107 712 60,000 N SOLE 60,000
HARRAHS ENTERTAINMENT INC COMMON 413619107 1,057 40,000 N SOLE 40,000
INSURANCE AUTO AUCTIONS IN COMMON 457875102 2,472 157,000 N SOLE 157,000
PACKAGED INCE INC COMMON 695148106 466 143,500 N SOLE 143,500
INFORMIX CORP COMMON 456779107 1,143 100,000 N SOLE 100,000
INTELLIGENT LIFE CORP COMMON 45172Q109 180 40,000 N SOLE 40,000
INTELLIGROUP INC COMMON 45816A106 1,485 60,000 N SOLE 60,000
INTERTAN INC COMMON 461120107 2,314 88,600 N SOLE 88,600
JOHNS MANVILLE CORP NEW COMMON 478129109 1,184 85,000 N SOLE 85,000
KAISER VENTURES INC COMMON 483100103 8,677 542,900 N SOLE 542,900
KENNEDY WILSON INC COMMON 489399204 400 50,000 N SOLE 50,000
TCI MUSIC INC COMMON 87229N101 3,341 45,000 N SOLE 45,000
***LONDON PACIFIC GROUP LT COMMON 542073101 846 23,500 N SOLE 23,500
LASER-PACIFIC MEDIA CORP COMMON 517923108 1,811 180,000 N SOLE 180,000
MONARCH CASINO & RESORT COMMON 609027107 1,502 286,200 N SOLE 286,200
MIRAGE RESORTS INC COMMON 60462E104 1,928 127,500 N SOLE 127,500
MKS INSTRUMENTS INC COMMON 55306N104 4,515 125,000 N SOLE 125,000
MICRO LINEAR CORP COMMON 594850109 642 75,000 N SOLE 75,000
MOVIE STAR INC COMMON 624591103 178 190,000 N SOLE 90,000
MICRO WAREHOUSE INC COMMON 59501B105 3,191 172,500 N SOLE 172,500
MAXTOR CORP COMMON 577729205 870 120,000 N SOLE 120,000
NAUTICA ENTERPRISES INC COMMON 639089101 5,656 500,000 N SOLE 500,000
OAK INDUSTRIES INC NEW COMMON 647100505 7,959 75,000 N SOLE 75,000
PHARMCHEM LABORATORIES INC COMMON 717133102 1,582 477,700 N SOLE 477,700
POTOTRONIC INC COMMON 719405102 1,362 47,600 N SOLE 47,600
EPLUS INC COMMON 294268107 486 13,500 N SOLE 13,500
PENN OCTANE CORP COMMON 707573101 300 50,000 N SOLE 50,000
POTOMAC ELECTRONIC POWER C COMMON 737679100 2,293 100,000 N SOLE 100,000
PEOPLESOFT INC COMMON 712713106 1,065 50,000 N SOLE 50,000
P.A.M. TRANSPORTAION SERVI COMMON 693149106 3,507 319,800 N SOLE 319,800
PLAYTEX PRODUCTS INC COMMON 72813P100 1,691 110,000 N SOLE 110,000
RAWLINGS SPORTING GOODS CO COMMON 754459105 540 90,000 N SOLE 90,000
SUNGLASS HUT INTERNATIONAL COMMON 86736F106 1,125 100,000 N SOLE 100,000
RELM WIRELESS CORP COMMON 759525108 660 211,200 N SOLE 211,200
POLO RALPH LAUREN CORP-CL COMMON 731572103 1,365 80,000 N SOLE 80,000
SAFECO CORP COMMON 786429100 995 40,000 N SOLE 40,000
INVIVO CORP COMMON 461858102 3,613 298,000 N SOLE 298,000
SHOP AT HOME COMMON 825066301 1,987 200,000 N SOLE 200,000
SINCLAIR BROADCAST GROUP I COMMON 829226109 1,037 85,000 N SOLE 85,000
SUNRISE TECHNOLOGIES INC COMMON 86769L103 590 50,000 N SOLE 50,000
SPECTRUM CONTROL COMMON 847615101 1,992 187,500 N SOLE 187,500
STAC SOFTWARE INC COMMON 852323203 1,262 200,000 N SOLE 200,000
SITEL CORP COMMON 82980K107 700 100,000 N SOLE 100,000
TRIDENT MICROSYSTEMS INC COMMON 895919108 1,153 112,500 N SOLE 112,500
TITAN CORP COMMON 888266103 9,462 200,000 N SOLE 200,000
WEBFINANCIAL CORP COMMON 94767P100 310 50,000 N SOLE 50,000
WICKES LUMBER CO COMMON 967446105 2,678 498,300 N SOLE 498,300
WINDMERE DURABLE HOLDINGS COMMON 973411101 1,266 74,500 N SOLE 74,500
XICOR COMMON 984903104 2,395 175,000 N SOLE 175,000
</TABLE>
ETR\4023\003\1086633.01
