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, 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: WATER STREET CAPITAL, INC.
Address: 225 WATER STREET, S-1987
JACSONVILLE, FL. 32202
13 File Number:
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
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: GILCHRIST B. BERG
Title: PRESIDENT
Phone: 904-355-9989
Signature, Place and Date of Signing:
GILCHRIST B. BERG November 11, 1999
Report Type (Check only one.):
[ X] 13F HOLDINGS REPORT.
[ ] 13F NOTICE.
[ ] 13F COMBINATION REPORT.
I AM SIGNING THIS REPORT AS REQUIRED BY THE SECURITIES EXCHANGE
ACT OF 1934
<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: 500520
<PAGE>
<TABLE> <C> <C>
FORM 13F INFORMATION TABLE
VALUE SHARES/ SH/ PUT/ INVSTMT OTHER VOTING AUTHORITY
NAME OF ISSUER TITLE OF CLASS CUSIP x($1000) PRN AMT PRN CALL DISCRETN MANAGERS SOLE SHARED NONE
------------------------------ ---------------- --------- -------- -------- --- ---- -------- --------- -------- -------- --------
D 4 KIDS ENTMT INC COM COMMON STOCK 350865101 4687 150000 SH SOLE 150000 0 0
D 4 KIDS ENTMT INC COM OPTIONS - PUTS 350865101 1563 50000 SH SOLE 50000 0 0
D AES CORP USD.01 COM COMMON STOCK 00130H105 16363 277350 SH SOLE 277350 0 0
D AGRIBRANDS INTL COM COMMON STOCK 00849R105 992 20000 SH SOLE 20000 0 0
D AIRGAS INC COM COMMON STOCK 009363102 5981 514500 SH SOLE 514500 0 0
D ALBERTSONS INC COM COMMON STOCK 013104104 15756 398274 SH SOLE 398274 0 0
D AMER EXPRESS CO COM COMMON STOCK 025816109 21046 155900 SH SOLE 155900 0 0
D AMERICA ONLINE INC COM STK OPTIONS - PUTS 02364J104 4162 40000 SH PUT SOLE 40000 0 0
D AMERITRADE HOLDINGS CORP-CL A COMMON STOCK 03072H109 918 50000 SH SOLE 50000 0 0
D BERKSHIRE HATHAWAY CL A INC DE COMMON STOCK 084670108 36410 662 SH SOLE 662 0 0
D BERKSHIRE HATHAWAY INC CLASS B COMMON STOCK 084670207 742 400 SH SOLE 400 0 0
D BOOKS-A-MILLION INC COM COMMON STOCK 098570104 2876 351300 SH SOLE 351300 0 0
D BORDERS GROUP INC COM COMMON STOCK 099709107 2203 150000 SH SOLE 150000 0 0
D BUCKEYE TECHNOLOGIES INC COM COMMON STOCK 118255108 38002 2422456 SH SOLE 2422456 0 0
D CHILDREN'S PLACE COM COMMON STOCK 168905107 1331 50000 SH SOLE 50000 0 0
D CMGI INC COM COMMON STOCK 125750109 1025 10000 SH SOLE 10000 0 0
D COCA COLA CO COM USD .25 COMMON STOCK 191216100 1447 30000 SH SOLE 30000 0 0
D COLUMBIA /HCA HEALTHCARE CORP COMMON STOCK 197677107 2542 120000 SH SOLE 120000 0 0
D COLUMBUS MCKINNON CORP N Y COM COMMON STOCK 199333105 16411 951392 SH SOLE 951392 0 0
D CONSECO INC COM OPTIONS - PUTS 208464107 1448 75000 SH PUT SOLE 75000 0 0
D CONSECO INC COM OPTIONS - PUTS 208464107 4065 210500 SH PUT SOLE 210500 0 0
D CONSECO INC COM OPTIONS - PUTS 208464107 2896 150000 SH PUT SOLE 150000 0 0
D COYOTE NETWORK SYSTEMS INC COM COMMON STOCK 22406P108 106 20000 SH SOLE 20000 0 0
D CREDITRUST CORP COM COMMON STOCK 225429109 7303 325500 SH SOLE 325500 0 0
D CYBERIAN OUTPOST INC COMMON STOCK 231914102 229 25000 SH SOLE 25000 0 0
D DIAL CORP NEW COM OPTIONS - PUTS 25247D101 510 20000 SH PUT SOLE 20000 0 0
D DIGITAL RIVER INC COM STK OPTIONS - PUTS 25388B104 217 10000 SH PUT SOLE 10000 0 0
D E-LOAN INC COM STK COMMON STOCK 26861P107 2803 130000 SH SOLE 130000 0 0
D EG & G INC COM COMMON STOCK 268457108 21465 540000 SH SOLE 540000 0 0
D ETOYS INC COM STK COMMON STOCK 297862104 9232 138700 SH SOLE 138700 0 0
D ETOYS INC COM STK OPTIONS - PUTS 297862104 998 15000 SH PUT SOLE 15000 0 0
D GELTEX PHARMACEUTICALS INC COMMON STOCK 368538104 723 65000 SH SOLE 65000 0 0
D GEORGIA PACIFIC GROUP COM COMMON STOCK 373298108 5006 123800 SH SOLE 123800 0 0
D GEORGIA PACIFIC GROUP COM OPTIONS - CALLS 373298108 2021 50000 SH CALL SOLE 50000 0 0
D GEORGIA-PAC (TIMBER GRP) COMMON STOCK 373298702 1898 83000 SH SOLE 83000 0 0
D GLOBAL CROSSING LTD COM COMMON STOCK G3921A100 1722 65000 SH SOLE 65000 0 0
D GLOBALSTAR TELECOMMUNICATIONS COMMON STOCK G3930H104 20051 871796 SH SOLE 871796 0 0
D HERCULES INC COM COMMON STOCK 427056106 10136 354100 SH SOLE 354100 0 0
D HIBBETT SPORTING GOODS INC COMMON STOCK 428565105 1621 99000 SH SOLE 99000 0 0
D INFOCURE CORP COM COMMON STOCK 45665A108 943 50000 SH SOLE 50000 0 0
D INFOCURE CORP COM OPTIONS - PUTS 45665A108 471 25000 SH PUT SOLE 25000 0 0
D INTL BUSINESS MACHS CORP COM OPTIONS - PUTS 459200101 2420 20000 SH PUT SOLE 20000 0 0
D JOURNAL REGISTER CO COM COMMON STOCK 481138105 9405 684000 SH SOLE 684000 0 0
D KNIGHT/TRIMARK GROUP INC COMMON STOCK 499067106 3777 127500 SH SOLE 127500 0 0
D LERNOUT & HAUSPIE SPEECH PRODS COMMON STOCK B5628B104 9838 282100 SH SOLE 282100 0 0
D LEXINGTON GLOBAL ASSET MANAGER COMMON STOCK 528932106 297 93226 SH SOLE 93226 0 0
D LHS GROUP INC COM COMMON STOCK 501938104 588 20000 SH SOLE 20000 0 0
D LORAL SPACE AND COMMUNICATIONS COMMON STOCK G56462107 3093 180000 SH SOLE 180000 0 0
D LUCENT TECHNOLOGIES INC COM OPTIONS - PUTS 549463107 12975 200000 SH PUT SOLE 200000 0 0
D MCDERMOTT INTL INC COM COMMON STOCK 580037109 15592 770000 SH SOLE 770000 0 0
D MCDERMOTT INTL INC COM OPTIONS - CALLS 580037109 2025 100000 SH CALL SOLE 100000 0 0
D MCDERMOTT INTL INC COM OPTIONS - CALLS 580037109 2025 100000 SH CALL SOLE 100000 0 0
D MEDIMMUNE INC COM OPTIONS - PUTS 584699102 4982 50000 SH PUT SOLE 50000 0 0
D MICRON TECHNOLOGY INC COM OPTIONS - PUTS 595112103 1996 30000 SH PUT SOLE 30000 0 0
D MISSISSIPPI CHEMICAL CORP COMMON STOCK 605288208 1820 260000 SH SOLE 260000 0 0
D MORTGAGE.COM INC COM COMMON STOCK 61910V102 1780 185000 SH SOLE 185000 0 0
D MP3.COM INC USD COM COMMON STOCK 62473M109 1878 50000 SH SOLE 50000 0 0
D MUSICMAKER.COM INC USD COM COMMON STOCK 62757C108 1546 150000 SH SOLE 150000 0 0
D NET BANK INC COM COMMON STOCK 640933107 2619 118400 SH SOLE 118400 0 0
D NEXTCARD INC COM STK COMMON STOCK 65332K107 2675 109200 SH SOLE 109200 0 0
D NORTH AMERN VACCINE INC COM COMMON STOCK 657201109 2058 274400 SH SOLE 274400 0 0
D ORGANOGENESIS INC COM COMMON STOCK 685906109 712 95000 SH SOLE 95000 0 0
D PACIFIC GATEWAY EXCHANGE INC COMMON STOCK 694327107 7098 433500 SH SOLE 433500 0 0
D PACIFIC GATEWAY EXCHANGE INC OPTIONS - PUTS 694327107 1359 83000 SH PUT SOLE 83000 0 0
D PACIFIC GATEWAY EXCHANGE INC OPTIONS - PUTS 694327107 491 30000 SH PUT SOLE 30000 0 0
D PARAMETRIC TECHNOLOGY CORP COMMON STOCK 699173100 6033 446900 SH SOLE 446900 0 0
D PAYLESS SHOESOURCE COM COMMON STOCK 704379106 12887 255200 SH SOLE 255200 0 0
D PENN VA CORP COM COMMON STOCK 707882106 624 30100 SH SOLE 30100 0 0
D PHELPS DODGE CORP COM COMMON STOCK 717265102 3346 60778 SH SOLE 60778 0 0
D PIXAR COM COMMON STOCK 725811103 6501 172800 SH SOLE 172800 0 0
D POTASH CORP OF SASKA TCHEWAN I COMMON STOCK 73755L107 13422 260000 SH SOLE 260000 0 0
D PREVIEW TRAVEL INC COM COMMON STOCK 74137R101 650 40000 SH SOLE 40000 0 0
D PRICELINE.COM INC COM COMMON STOCK 741503106 5482 85000 SH SOLE 85000 0 0
D PROGRESSIVE CORP OHIO OPTIONS - PUTS 743315103 1225 15000 SH PUT SOLE 15000 0 0
D REDBACK NETWORKS INC COMMON STOCK 757209101 6480 60000 SH SOLE 60000 0 0
D RELIASTAR FINL CORP COM COMMON STOCK 75952U103 6317 190000 SH SOLE 190000 0 0
D RITE AID CORPORATION COM OPTIONS - PUTS 767754104 966 70000 SH PUT SOLE 70000 0 0
D RITE AID CORPORATION COM OPTIONS - PUTS 767754104 1167 84500 SH PUT SOLE 84500 0 0
D ROBERT HALF INTL INC COM COMMON STOCK 770323103 6756 281500 SH SOLE 281500 0 0
D SABRATEK CORP COM COMMON STOCK 78571U108 647 230100 SH SOLE 230100 0 0
D SCHOLASTIC CORP COM COMMON STOCK 807066105 2130 42600 SH SOLE 42600 0 0
D STAMPS.COM INC COM COMMON STOCK 852857101 1737 50000 SH SOLE 50000 0 0
D STEIN MART INC COM COMMON STOCK 858375108 3433 481834 SH SOLE 481834 0 0
D STURM RUGER & CO INC COMMON STOCK 864159108 1800 200000 SH SOLE 200000 0 0
D TB WOODS CORP COM COMMON STOCK 872226105 707 72600 SH SOLE 72600 0 0
D TCSI CORP COM COMMON STOCK 87233R106 1023 655200 SH SOLE 655200 0 0
D TERRA INDS COM COMMON STOCK 880915103 624 370000 SH SOLE 370000 0 0
D UBID INC COMMON STOCK 903469104 1318 50000 SH SOLE 50000 0 0
D UNITED TECHNOLOGIES CORP COMMON STOCK 913017109 8825 148800 SH SOLE 148800 0 0
D US AIRWAYS GROUP INC COM COMMON STOCK 911905107 10580 403079 SH SOLE 403079 0 0
D US AIRWAYS GROUP INC COM OPTIONS - CALLS 911905107 315 12000 SH CALL SOLE 12000 0 0
D US AIRWAYS GROUP INC COM OPTIONS - CALLS 911905107 2625 100000 SH CALL SOLE 100000 0 0
D US AIRWAYS GROUP INC COM OPTIONS - CALLS 911905107 3281 125000 SH CALL SOLE 125000 0 0
D USG CORP COM NEW COMMON STOCK 903293405 4050 85057 SH SOLE 85057 0 0
D VENTANA MEDICAL SYS COM COMMON STOCK 92276H106 4404 259100 SH SOLE 259100 0 0
D VIATEL INC COM OPTIONS - CALLS 925529208 591 20000 SH CALL SOLE 20000 0 0
D VIATEL INC COM OPTIONS - PUTS 925529208 886 30000 SH PUT SOLE 30000 0 0
D VISX INC (DELAWARE) USD.01 CO OPTIONS - PUTS 92844S105 2372 30000 SH PUT SOLE 30000 0 0
D WASTE MANAGEMENT INC COM STK COMMON STOCK 94106L109 4235 220000 SH SOLE 220000 0 0
D WELLS FARGO COMPANY COMMON STOCK 949746101 792 20000 SH SOLE 20000 0 0
D XEIKON SPONSORED ADR ADRS STOCKS 984003103 7871 377100 SH SOLE 377100 0 0
D XEROX CORP COM OPTIONS - PUTS 984121103 1048 25000 SH PUT SOLE 25000 0 0
S REPORT SUMMARY 102 DATA RECORDS 500520 0 OTHER MANAGERS ON WHOSE BEHALF REPORT IS FILED
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