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, 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: Hilspen Capital Management, LLC
Address: 330 Primrose Avenue, Suite 312
Burlingame, CA 94010
Form 13F File Number: 28-05291
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: Robert S. Duich
Title: Chief Operating Officer
Phone: 650-685-6470
Signature, Place and Date of Signing:
/s/Robert S. Duich Burlingame, CA August 11, 2000
Robert S. Duich [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: ______19___
Form 13F Information Table Value Total: __52,417___
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>
NAME OF ISSUER TITLE OF CUSIP VALUE SHARES INV. OTHER AUTH
CLASS X1000 DISC MGR SOLE SHR NONE
<C> <C>
ALASKA AIR GROUP INC Common 011659109 1362 50200 Sole N/A 50200
AMERICAN ONLINE Common 02364j104 2850 54100 Sole N/A 54100
DEUTSCHE TELEKOM AG AMERICAN DEPOSITARY SH Common 251566105 1867 32900 Sole N/A 32900
EPOCH PHARMACEUTICALS INC Common 294273107 5502 619915 Sole N/A 619915
GENELABS TECHNOLOGIES INC Common 368706107 1903 468500 Sole N/A 468500
GENUITY INC. Common 37248E103 92 10000 Sole N/A 10000
INTERLINK ELECTRONICS Common 458751104 17685 422325 Sole N/A 422325
KANA COMMUNICATIONS INC Common 483600102 2271 36700 Sole N/A 36700
LYCOS INC Common 550818108 2473 45800 Sole N/A 45800
MAXTOR CORP (NEW) Common 577729205 1875 177560 Sole N/A 177560
MEMC ELECTRONIC MATERIALS INC Common 552715104 3381 187820 Sole N/A 187820
MPATH INTERACTIVE INC Common 421903105 546 121385 Sole N/A 121385
PEREGRINE SYSTEMS INC Common 71366q101 3469 100000 Sole N/A 100000
PRIMUS KNOWLEDGE SOLUTIONS INC Common 74163q100 970 21545 Sole N/A 21545
Q MED INC Common 747914109 1158 144700 Sole N/A 144700
RATEXCHANGE Common 75409110 152 25000 Sole N/A 25000
SBC COMMUNICATIONS INC Common 78387g103 2599 60100 Sole N/A 60100
THERMOGENESIS CORP NEW Common 883623209 834 460000 Sole N/A 460000
VERISIGN INC Common 92343e102 1430 8100 Sole N/A 8100
</TABLE>
ETR/5028/002/1099826
