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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, 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: 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:
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<S> <C> <C>
Gerald B. Unterman New York, New York November 9, 2000
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<TABLE>
<CAPTION>
Report Type (Check only one):
<S> <C>
[ X ] 13F HOLDINGS REPORT
[ ] 13F NOTICE
[ ] 13F COMBINATION REPORT
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FORM 13F SUMMARY PAGE
Report Summary
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<S> <C>
Number of Other Included Managers: -0-
Form 13F Information Table Entry Total: 57
Form 13F Information Table Value Total: $457,460
List of Other Included Managers: None
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FORM 13F INFORMATION TABLE
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<CAPTION>
------------ --------- ---------- ---------- ----------- --------- ---------- ---------- ---------- --------- ---------- ----------
NAME OF TITLE OF CUSIP VALUE SHARES/ SH/PRN PUT/ INVSTMT OTHER VOTING VOTING VOTING
ISSUER CLASS (x$1000) PRN AMT CALL DSCRETN MANAGERS AUTHORITY AUTHORITY AUTHORITY
SOLE SHARED N
------------ --------- ---------- ---------- ----------- --------- ---------- ---------- ---------- --------- ---------- ----------
<S> <C> <C> <C> <C> <C> <C> <C> <C> <C> <C> <C>
Advanced COM 00754U101 247 29,000 SH SOLE 29,000 0 0
Radio
Telecom
------------ --------- ---------- ---------- ----------- --------- ---------- ---------- ---------- --------- ---------- ----------
AT&T COM LIB 001952708 797 88,842 SH SOLE 88,842 0 0
Corp. GRP B
------------ --------- ---------- ---------- ----------- --------- ---------- ---------- ---------- --------- ---------- ----------
America Com 02364JAA2 242 4,500 SH SOLE 4,500 0 0
Online Inc.
------------ --------- ---------- ---------- ----------- --------- ---------- ---------- ---------- --------- ---------- ----------
American NTCV 029912AA0 24,546 14,600,000 PRN SOLE 0 0 0
Tower 144A09
Corp.
------------ --------- ---------- ---------- ----------- --------- ---------- ---------- ---------- --------- ---------- ----------
American NTCV 029912AE2 14,250 15,000,000 PRN SOLE 0 0 0
Tower 144A
Corp. 5% 10
------------ --------- ---------- ---------- ----------- --------- ---------- ---------- ---------- --------- ---------- ----------
American NTCV 029912AF9 776 817,000 PRN SOLE 0 0 0
Tower 5% 10
Corp.
------------ --------- ---------- ---------- ----------- --------- ---------- ---------- ---------- --------- ---------- ----------
Anixter LYON 035290AA3 2,775 10,000,000 PRN SOLE 0 0 0
Intl. Inc. Zero
------------ --------- ---------- ---------- ----------- --------- ---------- ---------- ---------- --------- ---------- ----------
BEA SB NT 073325AC6 14,374 1,220,500 PRN SOLE 0 0 0
Systems CV 4% 05
Inc.
------------ --------- ---------- ---------- ----------- --------- ---------- ---------- ---------- --------- ---------- ----------
BEA SB NT CV 073325AC6 15,413 6,500,000 PRN SOLE 0 0 0
Systems 144A 06
Inc.
------------ --------- ---------- ---------- ----------- --------- ---------- ---------- ---------- --------- ---------- ----------
Calif. Fed Cont. 130209604 148 75,027 SOLE 0 0 0
Bank FSB Litig. REC
------------ --------- ---------- ---------- ----------- --------- ---------- ---------- ---------- --------- ---------- ----------
Canadian PFD CV 136375409 446 10,000 SH SOLE 10,000 0 0
Nat Ry
------------ --------- ---------- ---------- ----------- --------- ---------- ---------- ---------- --------- ---------- ----------
Cendant COM 151313013 282 25,950 SH SOLE 25,950 0 0
Corp.
------------ --------- ---------- ---------- ----------- --------- ---------- ---------- ---------- --------- ---------- ----------
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<TABLE>
------------ ---------- ---------- --------- ----------- ---------- ---------- ---------- ---------- --------- ---------- ----------
<S> <C> <C> <C> <C> <C> <C> <C> <C> <C> <C> <C>
Cendant RT PUR 151313111 1,350 213,845 RT SOLE 0 0 0
Corp. PRIDES
------------ ---------- ---------- --------- ----------- ---------- ---------- ---------- ---------- --------- ---------- ----------
Citigroup COM 172967101 721 13,333 SH SOLE 13,333 0 0
Inc.
------------ ---------- ----------- -------- ----------- ---------- ---------- ---------- ---------- --------- ---------- ----------
Danaher COM 235851102 755 15,180 SH SOLE 15,180 0 0
Corp.
------------ ---------- ----------- -------- ----------- ---------- ---------- ---------- ---------- --------- ---------- ----------
Echostar SBNT 278762AD1 2,640 2,000,000 PRN SOLE 0 0 0
Commun. CV
4.875% 07
------------ ---------- ----------- -------- ----------- ---------- ---------- ---------- ---------- --------- ---------- ----------
Echostar SB NT 278762AB5 40,618 30,771,000 PRN SOLE 0 0 0
Commun. CV 144A
07
------------ ---------- ----------- -------- ----------- ---------- ---------- ---------- ---------- --------- ---------- ----------
EMC Corp. COM 268648102 5,023 50,670 SH SOLE 50,670 0 0
------------ ---------- ----------- -------- ----------- ---------- ---------- ---------- ---------- --------- ---------- ----------
France DEP BD 35177QAB1 4,991 3,670,000 PRN SOLE 0 0 0
Telecom CV 144A
04
------------ ---------- ----------- -------- ----------- ---------- ---------- ---------- ---------- --------- ---------- ----------
Global PFD CV G3921A126 20,501 237,352 SH SOLE 237,352 0 0
Crossing 6.375%
Ltd.
------------ ---------- ----------- -------- ----------- ---------- ---------- ---------- ---------- --------- ---------- ----------
Global COM G3921A100 12 375 SH SOLE 375 0 0
Crossing
Ltd.
------------ ---------- ----------- -------- ----------- ---------- ---------- ---------- ---------- --------- ---------- ----------
Golden COM 381197102 5,653 239,276 SH SOLE 239,276 0 0
State
Bancorp
------------ ---------- ----------- -------- ----------- ---------- ---------- ---------- ---------- --------- ---------- ----------
Golden WT EX 381197136 367 301,475 SOLE 0 0 0
State 0000
Bancorp
------------ ---------- ----------- -------- ----------- ---------- ---------- ---------- ---------- --------- ---------- ----------
Intern. SUB NT 460254AD7 4,118 4,500,000 PRN SOLE 0 0 0
Rectifier CV
Corp. 144A%07
------------ ---------- ----------- -------- ----------- ---------- ---------- ---------- ---------- --------- ---------- ----------
Interpublic SB NT CV 460690AD2 6,242 6,273,000 PRN SOLE 0 0 0
Group 144A
------------ ---------- ----------- -------- ----------- ---------- ---------- ---------- ---------- --------- ---------- ----------
Juniper SB NT 48203RAA2 31,943 21,050,000 PRN SOLE 0 0 0
Networks CV
Inc. 4.75% 07
------------ ---------- ----------- -------- ----------- ---------- ---------- ---------- ---------- --------- ---------- ----------
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<TABLE>
------------ ---------- ----------- -------- ----------- ---------- ---------- ---------- ---------- --------- ---------- ----------
<S> <C> <C> <C> <C> <C> <C> <C> <C> <C> <C> <C>
Kmart PFD TR
Corp. CV 7.75% 498778208 16,009 514,335 SH SOLE 514,335 0 0
------------ ---------- ----------- -------- ----------- ---------- ---------- ---------- ---------- --------- ---------- ----------
Kerr SB DB 492386AP2 15,844 12,752,000 PRN SOLE 0 0 0
McGee CV
Corp. 5.25% 10
------------ ---------- ----------- -------- ----------- ---------- ---------- ---------- ---------- --------- ---------- ----------
Kulicke SB NT 501242AE1 260 310,000 PRN SOLE 0 0 0
Soffa Inds. CV
4.75% 06
------------ ---------- ----------- -------- ----------- ---------- ---------- ---------- ---------- --------- ---------- ----------
Kulicke & SB NT CV 501242AC5 5,067 6,050,000 PRN SOLE 0 0 0
Soffa Inds. 144A06
------------ ---------- ----------- -------- ----------- ---------- ---------- ---------- ---------- --------- ---------- ----------
Kroger Co. COM 501044101 351 15,550 SH SOLE 15,550 0 0
------------ ---------- ----------- -------- ----------- ---------- ---------- ---------- ---------- --------- ---------- ----------
Lattice SB NT CV 518415AA2 7,244 5,000,000 PRN SOLE 0 0 0
Semi- 144A04
conductor
Corp.
------------ ---------- ----------- -------- ----------- ---------- ---------- ---------- ---------- --------- ---------- ----------
Littlefuse COM 537008104 546 18,385 SH SOLE 18,385 0 0
Inc.
------------ ---------- ----------- -------- ----------- ---------- ---------- ---------- ---------- --------- ---------- ----------
MCI COM 55268B106 202 6,650 SH SOLE 6,650 0 0
Worldcom
Inc.
------------ ---------- ----------- -------- ----------- ---------- ---------- ---------- ---------- --------- ---------- ----------
MPower PFD CV 62473J205 1,108 71,500 SH SOLE 71,500 0 0
Communic- SER D
ations Corp. 7.25%
------------ ---------- ----------- -------- ----------- ---------- ---------- ---------- ---------- --------- ---------- ----------
Millenium SB NT CV 599902AA1 10,402 5,500,000 PRN SOLE 0 0 0
Pharm. Inc. 144A07
------------ ---------- ----------- -------- ----------- ---------- ---------- ---------- ---------- --------- ---------- ----------
National CAP UTS 632525309 18,676 737,830 SH SOLE 737,830 0 0
Australia EXCH LB
Bank Ltd.
------------ ---------- ----------- -------- ----------- ---------- ---------- ---------- ---------- --------- ---------- ----------
Nextel CLA 65332V103 4,590 98,188 SH SOLE 98,188 0 0
Communic-
ation Inc.
------------ ---------- ----------- -------- ----------- ---------- ---------- ---------- ---------- --------- ---------- ----------
Pegasus CLA 705904100 229 4,741 SH SOLE 0 0 0
Comm.
Corp.
------------ ---------- ----------- -------- ----------- ---------- ---------- ---------- ---------- --------- ---------- ----------
</TABLE>
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<TABLE>
------------ ---------- ----------- -------- ----------- ---------- ---------- ---------- ---------- --------- ---------- ----------
<S> <C> <C> <C> <C> <C> <C> <C> <C> <C> <C> <C>
PSI Net PFD CV 74437C309 35,113 1,447,476 SH SOLE 1,447,976 0 0
Inc. 6.75
------------ ---------- ----------- -------- ----------- ---------- ---------- ---------- ---------- --------- ---------- ----------
PSI Net COM 74437C101 338 35,125 SH SOLE 35,125 0 0
Inc.
------------ ---------- ----------- -------- ----------- ---------- ---------- ---------- ---------- --------- ---------- ----------
Pogo Trust QUIPS 74437P208 16,920 284,376 SH SOLE 284,376 0 0
I SER A
------------ ---------- ----------- -------- ----------- ---------- ---------- ---------- ---------- --------- ---------- ----------
Pogo SB NT CV 730448AC1 8,920 10,357,000 PRN SOLE 0 0 0
Producting 144A
Corp. 5.5% 06
------------ ---------- ----------- -------- ----------- ---------- ---------- ---------- ---------- --------- ---------- ----------
Providian SR NT 74406AAAO 11,188 10,000 PRN SOLE 0 0 0
Financial 3.25% 05
Corp.
------------ ---------- ----------- -------- ----------- ---------- ---------- ---------- ---------- --------- ---------- ----------
Qualcomm COM 747525103 10,139 142,297 SH SOLE 142,297 0 0
Inc.
------------ ---------- ----------- -------- ----------- ---------- ---------- ---------- ---------- --------- ---------- ----------
Qwest COM 749121109 712 14,335 SH SOLE 14,335 0 0
Commn.
Inc.
------------ ---------- ----------- -------- ----------- ---------- ---------- ---------- ---------- --------- ---------- ----------
RF Micro SB NT CV 749941AA8 6,536 7,000,000 PRN SOLE 0 0 0
devices 144A05
Inc.
------------ ---------- ----------- -------- ----------- ---------- ---------- ---------- ---------- --------- ---------- ----------
Royal PFD CV V7780T111 65 2,515 SH SOLE 2,515 0 0
Caribbean
Cruises
------------ ---------- ----------- -------- ----------- ---------- ---------- ---------- ---------- --------- ---------- ----------
SCI Sys SB NT 783890AF3 52 52,000 PRN SOLE 0 0 0
Inc. CV
3% 07
------------ ---------- ----------- -------- ----------- ---------- ---------- ---------- ---------- --------- ---------- ----------
Sanmina SB DB CV 800907AA5 17,480 7,900,500 PRN SOLE 0 0 0
Corp. 144A 04
------------ ---------- ----------- -------- ----------- ---------- ---------- ---------- ---------- --------- ---------- ----------
Semtech SB NT 816850AB7 4,988 4,200,000 PRN SOLE 0 0 0
Corp. CV
144A07
------------ ---------- ----------- -------- ----------- ---------- ---------- ---------- ---------- --------- ---------- ----------
Solectron SR LYON 834182AK3 23,450 35,000,000 PRN SOLE 0 0 0
Corp. ZERO 20
------------ ---------- ----------- -------- ----------- ---------- ---------- ---------- ---------- --------- ---------- ----------
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<TABLE>
------------ ---------- ----------- -------- ----------- ---------- ---------- ---------- ---------- --------- ---------- ----------
<S> <C> <C> <C> <C> <C> <C> <C> <C> <C> <C> <C>
Stmicro- SB LYON 861012AB8 18,754 14,385,000 PRN SOLE 0 0 0
electronics Zero 09
------------ ---------- ----------- -------- ----------- ---------- ---------- ---------- ---------- --------- ---------- ----------
Vitesse SB DB 928497AA4 9,360 9,000,000 PRN SOLE 0 0 0
Semi- CV
conductor 144A05
Corp.
------------ ---------- ----------- -------- ----------- ---------- ---------- ---------- ---------- --------- ---------- ----------
Vodafone ADR 92857T107 7 200 SH SOLE 200 0 0
Airtouch.
------------ ---------- ----------- -------- ----------- ---------- ---------- ---------- ---------- --------- ---------- ----------
WinStar COM 975515107 524 34,086 SH SOLE 34,086 0 0
Communic-
ations Inc.
------------ ---------- ----------- -------- ----------- ---------- ---------- ---------- ---------- --------- ---------- ----------
Young & SB NT 987425AA3 13,156 13,390,000 PRN SOLE 0 0 0
Rubican CV
Inc. 144A05
------------ ---------- ----------- -------- ----------- ---------- ---------- ---------- ---------- --------- ---------- ----------
</TABLE>
