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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: GEM Capital Management, Inc.
Address: 70 East 55th Street - 12th Floor
New York, New York 10022
13F File Number: 28-2943
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 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: Gerald B. Unterman
Title: President
Phone: (212) 753-0700
Signature, Place, and Date of Signing:
/s/ Gerald B. Unterman New York, New York November 9, 1999
Report Type (Check only one):
[X] 13F HOLDINGS REPORT
[ ] 13F NOTICE
[ ] 13F COMBINATION REPORT
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FORM 13F SUMMARY PAGE
Report Summary
Number of Other Included Managers: -0-
Form 13F Information Table Entry Total: 49
Form 13F Information Table Value Total: $431,717
List of Other Included Managers: None
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FORM 13F INFORMATION TABLE
<TABLE>
<CAPTION>
NAME OF TITLE OF CUSIP VALUE SHARES/ SH/ PUT/ INVSTMT OTHER VOTING VOTING VOTING
ISSUER CLASS (x$1000) PRN AMT PRN CALL DSCRETN MANAGERS AUTHORITY AUTHORITY AUTHORITY
SOLE SHARED N
- ------- -------- --------- -------- ------- --- ---- ------- -------- --------- --------- ---------
<S> <C> <C> <C> <C> <C> <C> <C> <C> <C> <C> <C>
AMFM COM 001693100 5,832 86,000 SH SOLE 86,000 0 0
Inc.
Advantica COM 00758B109 1,302 442,898 SH SOLE 442,898 0 0
Rest.
Group
Ann Taylor GTD SD 036115AA1 1,246 2,200,000 PRN SOLE 0 0 0
Stores CV
Corp. 144A19
AT&T COM LIB 001952708 301 8,112 SH SOLE 8,112 0 0
Corp. GRP B
BEA SB NT CV 073325AAO 21,710 15,168,000 PRN SOLE 0 0 0
Systems 144A 05
Inc.
Calif. Fed Cont. 130209604 251 103,089 SOLE 0 0 0
Bank FSB Litig. REC
Cell COM 15114R101 503 54,054 SH SOLE 54,054 0 0
Pathways
Inc.
Cendant COM 151313013 2,464 138,800 SH SOLE 138,800 0 0
Corp.
Centocor SB DB CV 152342AD3 7,846 5,989,000 PRN SOLE 0 0 0
Inc. 4.75% 05
Citigroup COM 172967101 1,650 37,500 SH SOLE 37,500 0 0
Inc.
</TABLE>
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<TABLE>
<S> <C> <C> <C> <C> <C> <C> <C> <C> <C> <C> <C>
Citrix Sys SD CV 177376AA8 38,640 80,500,000 PRN SOLE 0 0 0
Inc. ZRO 144A
19
Comverse SB NT CV 205862AF2 9,068 4,010,000 PRN SOLE 0 0 0
Technology 144A 04
Inc.
Dime COM 25429Q102 1,752 100,128 SH SOLE 100,128 0 0
Bancorp
Inc.
EMC COM 268648102 142 1,988 SH SOLE 1,988 0 0
Corp.
EMC SB NT CV 268648AC6 21,492 3,400,000 PRN SOLE 0 0 0
Corp. 144A02
EMC SB NT CV 268648AD4 21,549 3,409,000 PRN SOLE 0 0 0
Corp. ACRD02
Empresas SB DB CV 292448AC1 5,541 9,450,000 PRN SOLE 0 0 0
ICA 5%04
Sociedad
France DEP BD 35177QAB1 3,805 3,923,000 PRN SOLE 0 0 0
Telecom CV 144A
04
Genzyme SUB NT 372917AE4 17,460 13,115,000 PRN SOLE 0 0 0
Corp. CV 144A
05
Genzyme SUB NT 372917AF1 3,026 2,273,000 PRN SOLE 0 0 0
Corp. CV 5.25%
05
Golden COM 381197102 6,440 358,969 SH SOLE 358,969 0 0
State
Bancorp
</TABLE>
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<TABLE>
<S> <C> <C> <C> <C> <C> <C> <C> <C> <C> <C> <C>
Golden WT EX 381197136 542 443,947 SOLE 0 0 0
State 0000
Bancorp
Home SB NT CV 437076AE2 5,366 1,803,000 PRN SOLE 0 0 0
Depot 3.25% 01
Interpublic SB NT CV 460690AD2 9,600 8,000,000 PRN SOLE 0 0 0
Group 144A
Kmart COM 482584109 491 42,000 SH SOLE 42,000 0 0
Corp.
Kmart PFD TR 498778208 20,277 399,741 SH SOLE 399,741 0 0
Corp. CV 7.75%
LSI Logic SUB NT 502161AB8 2,286 1,250,000 PRN SOLE 0 0 0
Corp. CV
144A 04
Littlefuse COM 537008104 1,313 59,000 SH SOLE 59,000 0 0
Inc.
Loral PRD CV G56462149 16,951 345,017 SH SOLE 345,017 0 0
Space 6%
MCI COM 55268B106 5,008 69,740 SH SOLE 69,740 0 0
Worldcom
Inc.
Mediaone PFD CV. 58440J203 47,273 450,475 SH SOLE 450,475 0 0
Group Inc. SER D
National CAP UTS 632525309 18,314 668,869 SH SOLE 668,869 0 0
Australia EXCH LB
Bank Ltd.
Nextel CLA 65332V103 6,160 122,734 SH SOLE 122,734 0 0
Communications
</TABLE>
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<TABLE>
<S> <C> <C> <C> <C> <C> <C> <C> <C> <C> <C> <C>
Occidental PFD CV 674599790 13,806 596,870 SH SOLE 596,870 0 0
Pete $3
Omnicom SB DB CV 681919ACO 5,055 2,000,000 PRN SOLE 0 0 0
Group Inc. 144A 07
PSI Net PFD CV 74437C309 25,295 628,458 SH SOLE 628,458 0 0
Inc. 6.75
Pogo Trust I QUIPS 74437P208 5,666 106,913 SH SOLE 106,913 0 0
SER A
Pogo SB NT CV 730448AC1 10,952 13,541,000 PRN SOLE 0 0 0
Producting 144A
Corp. 5.5% 06
Qwest COM 749121109 417 14,100 SH SOLE 14,100 0 0
Commn.
Inc.
Royal PFD CV V7780T111 2,745 19,936 SH SOLE 19,936 0 0
Caribbean
Cruises
Safeguard SB NT CV 786449ADO 1,395 1,268,000 PRN SOLE 0 0 0
Scientifics 144A 6%
Inc. 06
Safeguard COM 786449108 11,076 162,879 SH SOLE 162,879 0 0
Scientifics
Inc.
Sanmina SB DB CV 800907AA5 11,150 10,000,000 PRN SOLE 0 0 0
Corp. 144A 04
Telefonos SR DB CV 879403AD5 15,080 16,000,000 PRN SOLE 0 0 0
De Mexico 4.25% 04
SA
US West COM 91273H101 428 7,500 SH SOLE 7,500 0 0
Inc.
</TABLE>
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<TABLE>
<S> <C> <C> <C> <C> <C> <C> <C> <C> <C> <C> <C>
Veritas SB NT CV 923436AB5 15,732 15,000,000 PRN SOLE 0 0 0
Software 5.25% 04
Co.
Washington Com 939322103 5,160 176,386 SH SOLE 176,386 0 0
Mut Inc.
Waste SB NT CV 94106LAA7 14 752 SH SOLE 752 0 0
Manag. 4$02
Inc.
WinStar COM 975515107 2,145 54,642 SH SOLE 54,642 0 0
Communications
Inc.
</TABLE>
