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: 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 May 9, 2000
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: 116
Form 13F Information Table Value Total: 585163
<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 8153 345100 SH SOLE 345100 0 0
D 4 KIDS ENTMT INC COM OPTIONS - PUTS 350865101 1181 50000 SH PUT SOLE 50000 0 0
D ADTRAN INC COM COMMON STOCK 00738A106 6586 110800 SH SOLE 110800 0 0
D ADTRAN INC COM OPTIONS - CALLS 00738A106 1783 30000 SH CALL SOLE 30000 0 0
D ADTRAN INC COM OPTIONS - PUTS 00738A106 1961 33000 SH PUT SOLE 33000 0 0
D AES CORP USD.01 COM COMMON STOCK 00130H105 14770 187550 SH SOLE 187550 0 0
D AGRIBRANDS INTL COM COMMON STOCK 00849R105 1517 38600 SH SOLE 38600 0 0
D AIRGAS INC COM COMMON STOCK 009363102 4510 542500 SH SOLE 542500 0 0
D ALBERTSONS INC COM COMMON STOCK 013104104 13658 440574 SH SOLE 440574 0 0
D ALLEGHENY TECHNOLOGIES INC COMMON STOCK 01741R102 1003 50000 SH SOLE 50000 0 0
D ALLEGHENY TECHNOLOGIES INC OPTIONS - CALLS 01741R102 502 25000 SH CALL SOLE 25000 0 0
D AMAZON COM INC COM OPTIONS - PUTS 023135106 1340 20000 SH PUT SOLE 20000 0 0
D AMER EXPRESS CO COM COMMON STOCK 025816109 16651 111800 SH SOLE 111800 0 0
D AMERICAN SOFTWARE INC CL A COMMON STOCK 029683109 2913 208100 SH SOLE 208100 0 0
D AMERITRADE HOLDINGS CORP-CL A COMMON STOCK 03072H109 1880 90000 SH SOLE 90000 0 0
D BERKSHIRE HATHAWAY CL A INC DE COMMON STOCK 084670108 46732 817 SH SOLE 817 0 0
D BERKSHIRE HATHAWAY INC CLASS B COMMON STOCK 084670207 728 400 SH SOLE 400 0 0
D BOOKS-A-MILLION INC COM COMMON STOCK 098570104 644 107322 SH SOLE 107322 0 0
D BORDERS GROUP INC COM COMMON STOCK 099709107 1813 105500 SH SOLE 105500 0 0
D BUCKEYE TECHNOLOGIES INC COM COMMON STOCK 118255108 41092 2331456 SH SOLE 2331456 0 0
D BUY.COM INC COMMON STOCK 124269101 195 20000 SH SOLE 20000 0 0
D CARRIER ACCESS CORP COMSTK USD COMMON STOCK 144460102 2663 50000 SH SOLE 50000 0 0
D CARRIER ACCESS CORP COMSTK USD OPTIONS - PUTS 144460102 266 5000 SH PUT SOLE 5000 0 0
D CARRIER ACCESS CORP COMSTK USD OPTIONS - PUTS 144460102 2663 50000 SH PUT SOLE 50000 0 0
D COCA COLA CO COM USD .25 COMMON STOCK 191216100 1403 29900 SH SOLE 29900 0 0
D COLUMBIA /HCA HEALTHCARE CORP COMMON STOCK 197677107 2405 95000 SH SOLE 95000 0 0
D COLUMBUS MCKINNON CORP N Y COM COMMON STOCK 199333105 13798 1051292 SH SOLE 1051292 0 0
D CONSECO INC COM OPTIONS - PUTS 208464107 400 35000 SH PUT SOLE 35000 0 0
D COREL SYSTEMS CORP CAD COM COMMON STOCK 21868Q109 3690 362200 SH SOLE 362200 0 0
D COREL SYSTEMS CORP CAD COM OPTIONS - PUTS 21868Q109 102 10000 SH PUT SOLE 10000 0 0
D COYOTE NETWORK SYSTEMS INC COM COMMON STOCK 22406P108 1027 93400 SH SOLE 93400 0 0
D CREDITRUST CORP COM COMMON STOCK 225429109 734 244900 SH SOLE 244900 0 0
D DIGITAL RIVER INC COM STK OPTIONS - PUTS 25388B104 430 20000 SH PUT SOLE 20000 0 0
D E-LOAN INC COM STK COMMON STOCK 26861P107 1455 207800 SH SOLE 207800 0 0
D EGGHEAD.COM INC COM STK COMMON STOCK 282329101 703 100000 SH SOLE 100000 0 0
D ETOYS INC COM STK COMMON STOCK 297862104 917 103700 SH SOLE 103700 0 0
D FEDERAL MOGUL CORP COM COMMON STOCK 313549107 2295 137500 SH SOLE 137500 0 0
D FPIC INS GROUP INC COM COMMON STOCK 302563101 1750 100000 SH SOLE 100000 0 0
D GELTEX PHARMACEUTICALS INC COMMON STOCK 368538104 1089 65000 SH SOLE 65000 0 0
D GENZYME CORP COM OPTIONS - PUTS 372917104 3860 77000 SH PUT SOLE 77000 0 0
D GENZYME CORP COM OPTIONS - PUTS 372917104 1003 20000 SH PUT SOLE 20000 0 0
D GEORGIA PACIFIC GROUP COM COMMON STOCK 373298108 6480 163800 SH SOLE 163800 0 0
D GEORGIA PACIFIC GROUP COM OPTIONS - CALLS 373298108 2572 65000 SH CALL SOLE 65000 0 0
D GEORGIA-PAC (TIMBER GRP) COMMON STOCK 373298702 2255 88000 SH SOLE 88000 0 0
D GLOBALSTAR TELECOMMUNICATIONS COMMON STOCK G3930H104 3517 253496 SH SOLE 253496 0 0
D GUMTECH INTL INC COM COMMON STOCK 402803100 153 10000 SH SOLE 10000 0 0
D HERCULES INC COM COMMON STOCK 427056106 7854 487100 SH SOLE 487100 0 0
D INTERPHASE CORP COM COMMON STOCK 460593106 7704 303600 SH SOLE 303600 0 0
D IXL ENTERPRISES COM OPTIONS - PUTS 450718101 1680 60000 SH PUT SOLE 60000 0 0
D JOURNAL REGISTER CO COM COMMON STOCK 481138105 10639 721300 SH SOLE 721300 0 0
D KING PHARMACEUTICALS INC COM COMMON STOCK 495582108 5040 160000 SH SOLE 160000 0 0
D LERNOUT & HAUSPIE SPEECH PRODS COMMON STOCK B5628B104 29835 270000 SH SOLE 270000 0 0
D LERNOUT & HAUSPIE SPEECH PRODS OPTIONS - PUTS B5628B104 1105 10000 SH PUT SOLE 10000 0 0
D LHS GROUP INC COM COMMON STOCK 501938104 1575 35000 SH SOLE 35000 0 0
D LORAL SPACE AND COMMUNICATIONS COMMON STOCK G56462107 1936 190000 SH SOLE 190000 0 0
D LUCENT TECHNOLOGIES INC COM OPTIONS - PUTS 549463107 3037 50000 SH PUT SOLE 50000 0 0
D LUCENT TECHNOLOGIES INC COM OPTIONS - PUTS 549463107 2733 45000 SH PUT SOLE 45000 0 0
D MCDERMOTT INTL INC COM COMMON STOCK 580037109 12919 1406100 SH SOLE 1406100 0 0
D MCDERMOTT INTL INC COM OPTIONS - CALLS 580037109 133 14500 SH CALL SOLE 14500 0 0
D MEDIMMUNE INC COM OPTIONS - PUTS 584699102 12189 70000 SH PUT SOLE 70000 0 0
D MEDIMMUNE INC COM OPTIONS - PUTS 584699102 3483 20000 SH PUT SOLE 20000 0 0
D MISSISSIPPI CHEMICAL CORP COMMON STOCK 605288208 3999 587000 SH SOLE 587000 0 0
D MP3.COM INC USD COM COMMON STOCK 62473M109 2583 123000 SH SOLE 123000 0 0
D NET BANK INC COM COMMON STOCK 640933107 724 55700 SH SOLE 55700 0 0
D NORTEL NETWORKS CORP NPV COM OPTIONS - PUTS 656568102 1261 10000 SH PUT SOLE 10000 0 0
D OAKWOOD HOMES CORP COM COMMON STOCK 674098108 5418 1421000 SH SOLE 1421000 0 0
D ORGANOGENESIS INC COM COMMON STOCK 685906109 1146 95000 SH SOLE 95000 0 0
D ORGANOGENESIS INC COM OPTIONS - PUTS 685906109 121 10000 SH PUT SOLE 10000 0 0
D PACIFIC GATEWAY EXCHANGE INC COMMON STOCK 694327107 2889 196683 SH SOLE 196683 0 0
D PACIFIC GATEWAY EXCHANGE INC OPTIONS - PUTS 694327107 3378 230000 SH PUT SOLE 230000 0 0
D PACIFIC GATEWAY EXCHANGE INC OPTIONS - PUTS 694327107 617 42000 SH PUT SOLE 42000 0 0
D PACIFIC GATEWAY EXCHANGE INC OPTIONS - PUTS 694327107 1469 100000 SH PUT SOLE 100000 0 0
D PACIFICARE HEALTH SYSTEMS INC OPTIONS - PUTS 695112102 698 14000 SH PUT SOLE 14000 0 0
D PACIFICARE HEALTH SYSTEMS INC OPTIONS - PUTS 695112102 1746 35000 SH PUT SOLE 35000 0 0
D PACIFICARE HEALTH SYSTEMS INC OPTIONS - PUTS 695112102 848 17000 SH PUT SOLE 17000 0 0
D PACKAGED ICE INC COM COMMON STOCK 695148106 1062 236000 SH SOLE 236000 0 0
D PARAMETRIC TECHNOLOGY CORP COMMON STOCK 699173100 11203 531900 SH SOLE 531900 0 0
D PAYLESS SHOESOURCE COM COMMON STOCK 704379106 15670 301700 SH SOLE 301700 0 0
D PENN VA CORP COM COMMON STOCK 707882106 543 31700 SH SOLE 31700 0 0
D PERKINELMER INC COM STK COMMON STOCK 714046109 29360 441500 SH SOLE 441500 0 0
D PHELPS DODGE CORP COM COMMON STOCK 717265102 3053 64278 SH SOLE 64278 0 0
D POTASH CORP OF SASKA TCHEWAN I COMMON STOCK 73755L107 28705 574100 SH SOLE 574100 0 0
D POTASH CORP OF SASKA TCHEWAN I OPTIONS - CALLS 73755L107 500 10000 SH CALL SOLE 10000 0 0
D POTASH CORP OF SASKA TCHEWAN I OPTIONS - CALLS 73755L107 2500 50000 SH CALL SOLE 50000 0 0
D PRICELINE.COM INC COM COMMON STOCK 741503106 8800 110000 SH SOLE 110000 0 0
D RITE AID CORPORATION COM OPTIONS - PUTS 767754104 275 50000 SH PUT SOLE 50000 0 0
D ROBERT HALF INTL INC COM COMMON STOCK 770323103 14302 301500 SH SOLE 301500 0 0
D SOURCE INFORMATION MGMT CO COM COMMON STOCK 836151209 6214 355100 SH SOLE 355100 0 0
D STAMPS.COM INC COM COMMON STOCK 852857101 1738 90000 SH SOLE 90000 0 0
D STEIN MART INC COM COMMON STOCK 858375108 3061 371034 SH SOLE 371034 0 0
D STURM RUGER & CO INC COMMON STOCK 864159108 1755 200600 SH SOLE 200600 0 0
D TB WOODS CORP COM COMMON STOCK 872226105 690 76700 SH SOLE 76700 0 0
D TERRA INDS COM COMMON STOCK 880915103 2882 1246200 SH SOLE 1246200 0 0
D TOYS R US COMMON STOCK 892335100 2109 142400 SH SOLE 142400 0 0
D TOYS R US OPTIONS - CALLS 892335100 1481 100000 SH CALL SOLE 100000 0 0
D TYCO INTERNATIONAL LTD COM COMMON STOCK 902124106 499 10000 SH SOLE 10000 0 0
D UBID INC COMMON STOCK 903469104 4297 146600 SH SOLE 146600 0 0
D UNITED TECHNOLOGIES CORP COMMON STOCK 913017109 9946 157400 SH SOLE 157400 0 0
D US AIRWAYS GROUP INC COM COMMON STOCK 911905107 19794 711679 SH SOLE 711679 0 0
D US AIRWAYS GROUP INC COM OPTIONS - CALLS 911905107 1391 50000 SH CALL SOLE 50000 0 0
D US AIRWAYS GROUP INC COM OPTIONS - CALLS 911905107 1113 40000 SH CALL SOLE 40000 0 0
D US AIRWAYS GROUP INC COM OPTIONS - CALLS 911905107 4172 150000 SH CALL SOLE 150000 0 0
D US AIRWAYS GROUP INC COM OPTIONS - CALLS 911905107 2781 100000 SH CALL SOLE 100000 0 0
D US AIRWAYS GROUP INC COM OPTIONS - CALLS 911905107 1391 50000 SH CALL SOLE 50000 0 0
D USG CORP COM NEW COMMON STOCK 903293405 4645 110757 SH SOLE 110757 0 0
D USG CORP COM NEW OPTIONS - CALLS 903293405 419 10000 SH CALL SOLE 10000 0 0
D VENTANA MEDICAL SYS COM COMMON STOCK 92276H106 9873 228600 SH SOLE 228600 0 0
D VENTRO CORPORATION COM STK COMMON STOCK 922815105 5663 100000 SH SOLE 100000 0 0
D VIVUS INC COM COMMON STOCK 928551100 1159 140000 SH SOLE 140000 0 0
D WALGREEN CO COM COMMON STOCK 931422109 2724 105800 SH SOLE 105800 0 0
D WASTE MANAGEMENT INC COM STK COMMON STOCK 94106L109 3244 237000 SH SOLE 237000 0 0
D WEBVAN GROUP COM STK COMMON STOCK 94845V103 115 15000 SH SOLE 15000 0 0
D WELLS FARGO COMPANY COMMON STOCK 949746101 2681 65500 SH SOLE 65500 0 0
D WIT CAPITAL GROUP INC COMMON STOCK 97737K309 2141 125000 SH SOLE 125000 0 0
D XCELERA.COM INC COM STK COMMON STOCK G31611109 11340 70000 SH SOLE 70000 0 0
D XEIKON SPONSORED ADR ADRS STOCKS 984003103 3871 214300 SH SOLE 214300 0 0
S REPORT SUMMARY 116 DATA RECORDS 585163 0 OTHER MANAGERS ON WHOSE BEHALF REPORT IS FILED
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