UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM 13F
FORM 13F COVER PAGE
Report for the Calendar Year or Quarter Ended: September 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: Gryphon Capital Management, LLC
Address: Four Maritime Plaza
San Francisco, CA 94111
Form 13F File Number: 28-05481
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: Joseph E. Sweeney III
Title: Manager
Phone: 415-274-6850
Signature, Place and Date of Signing:
/s/ Joseph E. Sweeney San Francisco, CA November 13, 2000
Joseph E. Sweeney [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: ________42___
Form 13F Information Table Value Total: ___165,661___
List of Other Included Managers: None
<Page
<TABLE>
NAME OF ISSUER TITLE OF CUSIP VALUE SHARES SH/ PUT/ OTHER AUTH
CLASS X1000 PRN CALL MGR SOLE
<C> <C> <C>
ADC TELECOMMUNICATIONS Common 000886101 1076 40,000 SH N/A 40,000
AVANTGO INC Common 05349M100 20 1,000 SH N/A 1,000
BJ SERVICES Common 055482103 6907 113,000 SH N/A 113,000
BAKER HUGHES INC Common 057224107 7425 200,000 SH N/A 200,000
BEAR STEARNS COMPANIES Common 073902108 2520 40,000 SH N/A 40,000
BIOSPHERE MEDICAL IHNC Common 09066V103 312 21,500 SH N/A 21,500
CE FRANKLIN LTD Common 125151100 5470 781,400 SH N/A 781,400
CMS ENERGY CORPORATION Common 125896100 2424 90,000 SH N/A 90,000
CENALTA ENERGY SERVICES INC Common 151293107 795 155,400 SH N/A 155,400
CHILES OFFSHORE INC Common 16888M104 3657 169,100 SH N/A 169,100
COMPAQ COMPUTER CORP Common 204493100 6619 240,000 SH N/A 240,000
COVAD COMMUNICATIONS GROUP Common 222814204 1605 120,000 SH N/A 120,000
DEL MONTE FOODS COMPANY Common 24522P103 495 80,000 SH N/A 80,000
DURAMED PHARMACEUTICALS INC Common 266354109 590 101,000 SH N/A 101,000
ENSCO INTERNATIONAL Common 26874Q100 4590 120,000 SH N/A 120,000
ELASTIC NETWORKS Common 284159100 558 40,000 SH N/A 40,000
EXE TECHNOLOGIES INC Common 301504106 3746 249,700 SH N/A 249,700
GRANT PRIDECO INC Common 38821G101 12175 555,000 SH N/A 555,000
GREY WOLF INC Common 397888108 5750 1,000,000 SH N/A 1,000,000
INDEPENDENT ENERGY HOLDINGS Common 45384X108 2118 280,000 SH N/A 280,000
INTEGRATED PRODUCTION SERVICES Common 45817H100 415 260,000 SH N/A 260,000
LEXMARK INTERNATIONSL INC Common 529771107 3750 100,000 SH N/A 100,000
MARINE DRILLING COMPANIES INC Common 568240204 1428 50,000 SH N/A 50,000
MAVERICK TUBE CORP. Common 577914104 9719 360,800 SH N/A 360,800
NATIONAL-OILWELL, INC. Common 637071101 7188 230,000 SH N/A 230,000
OSCA INC Common 687836106 5134 308,800 SH N/A 308,800
PNC FINANCIAL SERVICES Common 693475105 1300 20,000 SH N/A 20,000
PACIFIC SUNWEAR OF CA Common 694873100 1856 99,000 SH N/A 99,000
PENTON MEDIA INC Common 709668107 985 35,800 SH N/A 35,800
PHELPS DODGE CORP. Common 717265102 8350 200,000 SH N/A 200,000
PRECISION DRILLING CORP. Common 74022D100 14250 400,000 SH Call 400,000
R&B FALCON CORPORATION Common 74912E101 4042 145,000 SH N/A 145,000
SOVEREIGN BANCORP INC Common 845905108 740 80,000 SH N/A 80,000
TARGET CORP Common 87612E106 1538 60,000 SH N/A 60,000
TESCO CORP Common 88157K101 3230 313,200 SH N/A 313,200
UNITED PARCEL SERVICE, INC Common 911312106 1128 20,000 SH N/A 20,000
VYYO INC Common 918458100 24 800 SH N/A 800
VARCO INTERNATIONAL INC Common 922122106 6660 320,000 SH N/A 320,000
VASTERA INC Common 92239N109 6 250 SH N/A 250
WEATHERFORD INTERNATIONAL INC Common 947074100 19350 450,000 SH N/A 450,000
SANTA FE INTERNATIONAL CORP Common G7805C108 5408 120,000 SH N/A 120,000
RADCOM LTD. Common M81865103 313 50,000 SH N/A 50,000
</TABLE>
ETR\4342\006\1122390.01
