UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM 13F
FORM 13F COVER PAGE
Report for the Calendar Year or Quarter Ended: June 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: Gruber & McBaine Capital Management, LLC
Address: 50 Osgood Place, Penthouse__
San Francisco, CA 94133_____
Form 13F File Number: 28-3296_____
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: Elizabeth Giorgis___________
Title: administrator_______________
Phone: 415-981-1039_________________
Signature, Place and Date of Signing:
Elizabeth Giorgis_______ San Francisco, CA July 29, 1999
[Signature] [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:
[If there are no entries in this list, omit this section.]
Form 13F File Number Name
29-________________ ________________________________________
[Repeat as necessary.]
<PAGE>
Form 13F SUMMARY PAGE
Report Summary:
Number of Other Included Managers: _____0_____
Form 13F Information Table Entry Total: _____217___
Form 13F Information Table Value Total: __1,313,280
List of Other Included Managers:
Provide a numbered list of the name(s) and Form 13F file number(s) of all
institutional investment managers with respect to which this report is filed,
other than the manager filing this report.
[If there are no entries in this list, state "NONE" and omit the column headings
and list entries.]
No. Form 13F File Number Name
____ 28-___________ ___________________________
[Repeat as necessary.]
<PAGE>
<TABLE>
NAME OF ISSUER TITLE OF CUSIP VALUE SHARES
INV. OTHER AUTH
CLASS X1000 DISC
MGR
<C> <C>
ABC-Naco Inc common 000752105 4,787 233,500 SOLE 233,500
Abitibi Consolidated common 003924107 801 70,000 SOLE 70,000
Acsys Inc common 00087X103 984 258,000 SOLE 258,000
Acxiom Corp common 005125109 1,247 50,000 SOLE 50,000
Adaptive Broadband common 00650M104 7,858 359,200 SOLE 359,200
Adtran Inc. common 00738A106 3,314 91,100 SOLE 91,100
Advanced Health Corp common 00130R103 1,133 302,000 SOLE 302,000
Aim Global common 00900N100 718 132,500 SOLE 132,500
AllegianceTelecommunications common 01747T102 5,488 100,000 SOLE 100,000
Alpnet Inc. common 021089107 2,142 1,202,800 SOLE 1,202,800
Aluminum Co. of America common 013817101 1,238 20,000 SOLE 20,000
American Capital common 024937104 1,830 100,300 SOLE 100,300
Ameripath common 03071D109 3,571 414,000 SOLE 414,000
Amer-Online common 02364J104 2,210 20,000 SOLE 20,000
AMX Corp common 001801109 629 44,700 SOLE 44,700
Anaren Microwave common 032744104 720 34,500 SOLE 34,500
Apec PC Solutions common 037548104 615 30,000 SOLE 30,000
Applied Imaging common 03820G106 315 210,000 SOLE 210,000
Applix Inc. common 038316105 1,890 216,000 SOLE 216,000
Argosy Gaming Co. common 040228108 3,830 434,600 SOLE 434,600
ArtiSoft common 04314L106 585 115,500 SOLE 115,500
At Home Corp common 045919107 1,079 20,000 SOLE 20,000
Atmel Corp. common 049513104 524 20,000 SOLE 20,000
Atrix common 04962L101 1,449 150,500 SOLE 150,500
Autodesk common 052769106 4,464 151,000 SOLE 151,000
Azurix Corp common 05501M104 3,600 180,000 SOLE 180,000
Banc Plus Corp cvt bnd 06446AA5 714 825,000 SOLE 825,000
Big Entertainment common 089144109 9,677 619,300 SOLE 619,300
Bitstream Inc common 091736108 1,176 818,000 SOLE 818,000
BJ Services common 055482103 8,740 296,900 SOLE 296,900
Boston Communications common 100582105 1,138 84,700 SOLE 84,700
Bowater, Inc. common 102183100 3,308 70,000 SOLE 70,000
Broadcast Com common 111310108 1,069 8,000 SOLE 8,000
Brookdale Living common 112462106 7,405 499,900 SOLE 499,900
Building One common 120114103 1,271 91,611 SOLE 91,611
Business Resource common 12329K104 33 10,000 SOLE 10,000
Calgon Carbon Corp common 129603106 475 80,000 SOLE 80,000
Career Education common 141665109 9,211 272,400 SOLE 272,400
Celeritek Inc common 150926103 966 154,500 SOLE 154,500
Chevy Chase common 166784207 684 23,000 SOLE 23,000
Cholestech Corp. common 170393102 946 369,000 SOLE 369,000
Chronimed common 171164106 1,364 176,000 SOLE 176,000
Cidco Inc. common 171768104 317 42,800 SOLE 42,800
Ciena Corp common 171779101 2,536 84,000 SOLE 84,000
CMG Information common 125750109 134,468 1,178,900 SOLE 1,178,900
CoastCast common 19057T108 3,425 268,600 SOLE 268,600
Com21 Inc common 205937105 1,194 70,000 SOLE 70,000
Comdisco Inc. common 200336105 938 36,600 SOLE 36,600
COMPS.Com Inc common 204679105 745 101,000 SOLE 101,000
Core Laboratories common N22717107 279 20,000 SOLE 20,000
Corporate Executive common 21988R102 10,238 287,900 SOLE 287,900
Coulter Pharmaceuticals common 222116105 3,836 170,000 SOLE 170,000
Creative Technology common 225290303 11 68,832 SOLE 68,832
Credit Management common 224905109 749 157,600 SOLE 157,600
CrediTrust Corp common 225429109 1,948 70,200 SOLE 70,200
Cree Research common 225447101 4,824 62,700 SOLE 62,700
Cuisine Solutions common 229904107 1,882 1,555,057 SOLE 1,555,057
Cylink CP common 232565101 94 25,100 SOLE 25,100
Cypress Semiconductor common 232806109 2,888 175,000 SOLE 175,000
Cyprus Amax Minerals common 232809103 532 35,000 SOLE 35,000
Cytyc common 232946103 13,832 709,350 SOLE 709,350
DAOU Systems common 237015102 5,090 885,300 SOLE 885,300
Datastream Systems common 238124101 7,229 451,800 SOLE 451,800
Dataware Technologies common 237920103 674 283,900 SOLE 283,900
Denbury Resource common 247916208 1,767 403,900 SOLE 403,900
Descartes Systems common 249906108 5,091 1,002,300 SOLE 1,002,300
Devon Energy common 251799102 8,126 227,300 SOLE 227,300
Dialog Corp common 252500103 2,362 402,000 SOLE 402,000
Digital Microwave common 253859102 18,834 1,477,200 SOLE 1,477,200
Digital River common 25388B104 4,507 135,550 SOLE 135,550
Dreyers Ice Cream common 261878102 14,137 934,688 SOLE 934,688
DSET Corp common 262504103 3,341 239,700 SOLE 239,700
Dycom common 267475101 1,680 30,000 SOLE 30,000
E4L Inc. common 268452109 3,813 530,500 SOLE 530,500
Emcore Corp common 290846104 2,141 106,400 SOLE 106,400
Empyrean Diagnostics common 29245E103 201 280,500 SOLE 280,500
Emulex common 292475209 1,979 17,800 SOLE 17,800
Enron Corp common 293561106 5,314 65,000 SOLE 65,000
Ensco Intl Inc. common 26874Q100 7,383 370,300 SOLE 370,300
Equity Marketing common 294724109 3,387 326,500 SOLE 326,500
E-Sim Lt common M40990109 752 98,600 SOLE 98,600
ESPS INC common 269129102 372 50,000 SOLE 50,000
Evergreen Resources common 299900308 1,511 60,000 SOLE 60,000
Exodus common 302088109 7,826 65,250 SOLE 65,250
Factory 2-U Stores common 306889403 6,622 357,953 SOLE 357,953
Featherlite Manufacturing common 313054108 1,567 230,000 SOLE 230,000
Film Roman common 317234102 2,958 1,007,000 SOLE 1,007,000
Four Media common 350872107 973 149,700 SOLE 149,700
Fresh America common 358034106 8,499 607,100 SOLE 607,100
Gadzooks Inc. common 362553109 1,472 92,000 SOLE 92,000
Galileo Technologies common M47298100 7,363 162,500 SOLE 162,500
Garden Burger common 365476100 5,844 663,200 SOLE 663,200
Genesis Microchip common 371933102 8,184 346,400 SOLE 346,400
Genesys Telecommunications common 371931106 1,095 43,800 SOLE 43,800
Genome Therapeutics common 372430108 2,711 903,730 SOLE 903,730
Gilead Sciences common 375558103 3,135 60,000 SOLE 60,000
Global Industries common 379336100 2,844 222,000 SOLE 222,000
Globalstar Telecomm Pfd cvt pfd G005412 4,600 80,000 SOLE 80,000
Globalstar Telecomm common G3930H104 9,090 392,028 SOLE 392,028
Granite Construction common 387328107 1,466 50,000 SOLE 50,000
Grey Wolf common 397888108 1,294 517,500 SOLE 517,500
Hanover Direct common 410783104 70 25,000 SOLE 25,000
Harken Energy common 412552101 16 10,000 SOLE 10,000
Hibernia Foods @3.3594 wts 428660138 307 117,000 SOLE 117,000
Hibernia Foods @2.9563 wts 428660120 322 117,000 SOLE 117,000
Hibernia Foods PLC common 428660104 2,478 431,000 SOLE 431,000
HIE Inc. common 40419W100 2,142 901,800 SOLE 901,800
Horizon Organic common 44043T103 3,307 226,100 SOLE 226,100
Image Entertainment common 452439201 718 110,500 SOLE 110,500
Imatron Inc. common 452906100 108 75,000 SOLE 75,000
Infinium Software common 45662Y109 2,007 382,200 SOLE 382,200
Infonautics Inc common 456662105 1,040 203,000 SOLE 203,000
Information Res Engineer common 45675F303 663 22,000 SOLE 22,000
Infospace.com common 45678T102 949 20,200 SOLE 20,200
Innerdyne Inc. common 45764D102 1,093 546,300 SOLE 546,300
Insituform Tech common 457667103 7,276 336,465 SOLE 336,465
Instant Video common 45774V407 260 31,500 SOLE 31,500
Integramed America common 45810N302 859 202,000 SOLE 202,000
Intercept Group common 45845L107 3,128 201,800 SOLE 201,800
Interpool Inc common 46062R108 3,193 245,650 SOLE 245,650
Intertan Inc common 461120107 7,222 352,300 SOLE 352,300
Int'l Fibercom common 45950T101 3,011 331,100 SOLE 331,100
Intuit Inc common 461202103 10,396 115,350 SOLE 115,350
Invivo Corp. common 461858105 4,305 328,000 SOLE 328,000
Iridex common 462684101 2,357 483,500 SOLE 483,500
Ironstone common 463228205 17 13,506 SOLE 13,506
ISG Intl Software common M5733B104 5,109 541,300 SOLE 541,300
Isolyser Inc. common 464888106 2,372 506,000 SOLE 506,000
ITC Learning common 45031S106 1,768 372,250 SOLE 372,250
IXC Communications common 450713102 2,162 55,000 SOLE 55,000
J Baker Cvt cvt bnd 057232AA8 853 1,000,000 SOLE 1,000,000
J. Baker Inc. common 057232100 957 111,000 SOLE 111,000
Kenneth Cole common 193294105 1,366 49,000 SOLE 49,000
Kulicke & Soffa common 501242101 1,609 60,000 SOLE 60,000
Kushner-Locke common 501337406 7,534 1,159,000 SOLE 1,159,000
L3 Communications common 502424104 6,909 143,000 SOLE 143,000
LAI Worldwide common 501718100 234 35,000 SOLE 35,000
Laser Photonics Inc common 517903308 1,325 200,000 SOLE 200,000
Leasing Solutions common 522113109 442 589,700 SOLE 589,700
Leasing Solutions Bnd cvt bnd 522113AA7020 106 1,150,000 SOLE 1,150,000
Leviathon Gas common 527367205 406 17,200 SOLE 17,200
LSI Logic Corp. common 502161102 2,254 48,861 SOLE 48,861
LTX Corp. common 502392103 28,498 2,140,700 SOLE 2,140,700
Lycos Inc common 550818108 4,226 46,000 SOLE 46,000
Lyondell common 552078107 825 40,000 SOLE 40,000
Macromedia Inc. common 556100105 5,993 170,000 SOLE 170,000
Marketing Services common 570907105 13,769 525,800 SOLE 525,800
Martek Biosciences common 572901106 3,907 459,600 SOLE 459,600
Matria Healthcare common 576817100 13,489 1,860,500 SOLE 1,860,500
McDermott Intl. common 580037109 2,910 103,000 SOLE 103,000
MDC Communications common 55267W309 3,228 270,000 SOLE 270,000
MDC Corp common 55267W309 18,890 1,557,915 SOLE 1,557,915
MDSI Mobile Data common 55268N100 9,736 602,500 SOLE 602,500
Medaphis common 584028104 17,686 3,075,900 SOLE 3,075,900
Med-Design Co common 583926100 2,181 314,400 SOLE 314,400
Media 100 common 58440W105 759 150,000 SOLE 150,000
Medimmune common 584699102 2,033 30,000 SOLE 30,000
Medpartners common 58503X107 26,892 3,556,000 SOLE 3,556,000
Medpartners Inc TAPS common 58503X206 172 16,000 SOLE 16,000
Merrill Corp. common 590175105 9,090 626,900 SOLE 626,900
Metro One common 59163F105 2,021 147,000 SOLE 147,000
Mirage Resorts common 60462E104 1,156 69,000 SOLE 69,000
Mission West common 605203108 825 100,000 SOLE 100,000
Modtech Holdings common 60783C100 44,159 4,014,494 SOLE 4,014,494
Monterey Pasta common 612570101 4,350 1,657,100 SOLE 1,657,100
Motorola Inc. common 620076109 14,213 150,000 SOLE 150,000
Myr Group common 628456105 2,077 118,261 SOLE 118,261
Mysoftware Co common 628633109 6,693 433,100 SOLE 433,100
Nabors Industries common 629568106 5,596 229,000 SOLE 229,000
National Computer common 635519101 641 19,000 SOLE 19,000
National Wireless common 638560102 1,658 99,000 SOLE 99,000
Natrol Inc common 638789107 2,942 392,250 SOLE 392,250
NCO Group common 628858102 12,567 330,700 SOLE 330,700
Network Appliance common 64120L104 26,993 483,100 SOLE 483,100
Network Computing common 64120N100 296 61,500 SOLE 61,500
Newbridge Networks common 650901101 1,236 43,000 SOLE 43,000
Newfield Exploration common 651290108 1,641 57,700 SOLE 57,700
Newgen Results Corp common 651359101 1,440 120,000 SOLE 120,000
Newport Corp. common 651824104 1,325 85,500 SOLE 85,500
Nexstar Pharmaceuticals common 65332V103 7,736 388,000 SOLE 388,000
NFront Inc. common 65334N109 1,595 105,000 SOLE 105,000
Nike common 654106103 3,166 50,000 SOLE 50,000
Noble Drilling common 655042109 8,549 434,250 SOLE 434,250
Northwest Pipe common 667746101 1,164 70,000 SOLE 70,000
Nucentrix common 670198100 3,774 134,200 SOLE 134,200
Object Design Inc common 674416102 2,311 596,500 SOLE 596,500
OneSource common 68272J106 1,138 130,000 SOLE 130,000
OnSite Energy common 68284P108 1,005 2,954,513 SOLE 2,954,513
Ontro Inc common 683380109 330 120,000 SOLE 120,000
Ontro Inc Wts @8.25 wts 683380117 53 100,000 SOLE 100,000
Onyx Pharmaceuticals common 683399109 2,100 236,600 SOLE 236,600
Open Text common 683715106 75 2,500 SOLE 2,500
Opinion Research common 683755102 2,377 422,600 SOLE 422,600
Orthologic Corp common 68750J107 1,252 507,000 SOLE 507,000
Owens Illinois common 690768403 1,961 60,000 SOLE 60,000
Pacific Internet common Y66183107 2,327 49,125 SOLE 49,125
Pairgain Tech Inc common 695934109 1,150 100,000 SOLE 100,000
Parker Drilling common 701081101 2,104 635,200 SOLE 635,200
Pathogenesis Corp common 70321E104 568 40,000 SOLE 40,000
P-Com Inc common 693262107 5,517 1,054,000 SOLE 1,054,000
Peoplesoft Inc. common 712713106 69 4,000 SOLE 4,000
Pet Smart Inc common 716768106 1,026 100,100 SOLE 100,100
Petsmart Covt Bond cvt bnd 716768AA4060 238 250,000 SOLE 250,000
Phelps Dodge common 717265102 2,168 35,000 SOLE 35,000
Photon Dynamics common 719364101 474 39,500 SOLE 39,500
Phycor common 71940F100 2,911 393,000 SOLE 393,000
Pinnacle Systems common 723481107 20,987 624,150 SOLE 624,150
Pittsburgh Pa Pub cvt bnd 725259GR 10 10,000 SOLE 10,000
Pixar common 725811103 2,663 61,760 SOLE 61,760
Plasma Therm Inc common 727900102 1,576 573,000 SOLE 573,000
PMR Corp common 693451106 4,341 1,310,421 SOLE 1,310,421
Polycom common 73172K104 21,723 557,000 SOLE 557,000
Polymedica common 731738100 2,518 251,800 SOLE 251,800
Powerwave Technologies common 739363109 3,886 120,500 SOLE 120,500
ProMark Software common 743416106 72 507,800 SOLE 507,800
Puma Technology common 745906107 4,141 788,800 SOLE 788,800
Quiksilver Inc common 74838C106 1,955 75,000 SOLE 75,000
Radisys Corp. common 750459109 292 7,500 SOLE 7,500
Randolph Twp Mun cvt bnd 752744BQ 10 10,000 SOLE 10,000
Realty Information common 75612B107 21,563 495,700 SOLE 495,700
Recoton Corp common 756268108 2,855 314,003 SOLE 314,003
Redwood Trust common 758075402 2,910 175,700 SOLE 175,700
Remec Inc. common 759543101 5,147 319,200 SOLE 319,200
Remedy Corp common 759548100 672 25,000 SOLE 25,000
Renaissance Worldwide common 75968A109 2,319 291,000 SOLE 291,000
Research in Motion common 760975102 3,393 169,500 SOLE 169,500
Respironics Inc. common 761230101 2,591 171,300 SOLE 171,300
Response Oncology common 761232305 88 30,000 SOLE 30,000
Roberts Pharmaceuticals common 770491108 1,940 80,000 SOLE 80,000
Safeguard Scientifics common 786449108 11,380 183,550 SOLE 183,550
Saleslogix Corp common 79466P105 893 60,000 SOLE 60,000
Salon.com common 79549F108 475 50,000 SOLE 50,000
Sanchez Comp common 799702105 1,212 35,000 SOLE 35,000
Santa Barbara common 801378100 1,305 509,400 SOLE 509,400
Santa Cruz Operation common 801833104 3,102 475,000 SOLE 475,000
Santa Fe Intl common G7805C108 2,990 130,000 SOLE 130,000
Savoir Tech common 80533W107 3,996 426,200 SOLE 426,200
Sawtek Inc. common 805468105 17,088 372,500 SOLE 372,500
Schuler Homes Bnd cvt bnd 808188AA4 963 1,250,000 SOLE 1,250,000
Schuler Homes common 808188106 384 59,000 SOLE 59,000
Scient Corp common 80864H109 1,903 40,000 SOLE 40,000
Scottish Annuity & Life Hldg common G78885T104 1,247 116,000 SOLE 116,000
Sea Containers common 811371707 3,202 95,400 SOLE 95,400
Seachange Intl common 811699107 930 51,300 SOLE 51,300
Secure Computing common 813705100 982 402,900 SOLE 402,900
Security Dynamics common 814208104 2,274 107,000 SOLE 107,000
Security First Tech common 814275103 25,279 560,200 SOLE 560,200
Segue Software common 815807102 181 25,000 SOLE 25,000
Sequent Computer common 817338106 1,243 70,000 SOLE 70,000
Silknet Software.com common 827094103 1,879 46,400 SOLE 46,400
Sino Forest CL A common 82934H101 2,842 2,797,400 SOLE 2,797,400
Sirit Technology common 82966K105 31 192,000 SOLE 192,000
Smurfit Stone common 832727101 4,205 204,500 SOLE 204,500
Softnet Systems common 833964109 7,617 273,250 SOLE 273,250
Sonex common 835448101 263 323,000 SOLE 323,000
Southern Energy common 842814105 515 96,975 SOLE 96,975
Spartech Cp common 847220209 2,056 65,000 SOLE 65,000
Spectrian Corp. common 847608106 4,015 276,900 SOLE 276,900
Stake Technology common 852559103 2,428 2,589,500 SOLE 2,589,500
Startec Glbl Commun common 85569E103 444 36,600 SOLE 36,600
Sterling Software common 859547101 4,670 175,000 SOLE 175,000
Stolt Comex Seaway common L8873E103 2,755 253,300 SOLE 253,300
Styling Technology common 863905105 5,329 409,900 SOLE 409,900
Synbiotics Corp. common 871566105 4,332 1,100,100 SOLE 1,100,100
Systems Software Bnd cvt bnd 871839AA4 350 1,000,000 SOLE 1,000,000
Tankology common 87583E101 3,829 13,615,658 SOLE 13,615,658
Tekelec common 879101103 11,292 926,500 SOLE 926,500
Telcom Semiconductor common 87921P107 193 20,000 SOLE 20,000
Telespectrum Worldwide common 87951U109 781 100,800 SOLE 100,800
Temple Inland common 879868107 4,095 60,000 SOLE 60,000
Tidel Tech common 886368109 754 365,500 SOLE 365,500
Tidewater common 886423102 2,132 69,900 SOLE 69,900
TJ International common 872534102 341 11,000 SOLE 11,000
TMP Worldwide common 872941109 1,429 22,500 SOLE 22,500
Tom Brown common 115660201 3,243 208,400 SOLE 208,400
Topps Company common 890786106 874 120,000 SOLE 120,000
Towne Services common 892148107 1,778 225,800 SOLE 225,800
Toys R Us common 892335100 1,034 50,000 SOLE 50,000
Tricom common 89612A100 2,457 222,100 SOLE 222,100
TriQuint Semiconductors common 89674K103 10,874 191,400 SOLE 191,400
Urban Outfitters common 917047102 2,520 100,300 SOLE 100,300
Uroquest Medical common 917285108 436 245,000 SOLE 245,000
US Bioscience common 911646107 1,950 200,000 SOLE 200,000
US Oncology Inc common 90338W103 4,836 403,000 SOLE 403,000
US Search.com Inc common 903381101 1,200 150,000 SOLE 150,000
UST Inc common 902911106 1,746 59,700 SOLE 59,700
USWEB common 917327108 1,775 80,000 SOLE 80,000
Valero Energy common 91913Y100 1,179 55,000 SOLE 55,000
Verdant Brands Inc common 923366108 388 400,978 SOLE 400,978
Verisign Inc common 92343E102 11,903 138,000 SOLE 138,000
Veritas Software common 923436109 2,373 25,000 SOLE 25,000
Vet Ctr of common 925514107 1,112 82,000 SOLE 82,000
VI Technologies common 917920100 1,644 328,700 SOLE 328,700
Viatel Inc common 925529208 1,347 24,000 SOLE 24,000
Vidamed common 926530106 544 300,000 SOLE 300,000
Vista Information common 928365204 3,092 267,400 SOLE 267,400
Vitesse Semiconductor common 928497106 49,890 739,800 SOLE 739,800
Waste Connections common 941053100 1,565 51,300 SOLE 51,300
Western Garnet Co. common 95825D105 1,274 784,000 SOLE 784,000
Western Water Co. common 959881103 940 268,500 SOLE 268,500
Weyerhaeuser Co. common 962166104 1,031 15,000 SOLE 15,000
Whole Foods Mkt common 966837106 2,403 50,000 SOLE 50,000
Williams Cos. common 969457100 5,959 140,000 SOLE 140,000
Winstar Communications common 975515107 9,750 200,000 SOLE 200,000
Xceed Inc common 98388N105 219 10,000 SOLE 10,000
Xilinx common 983919101 4,294 75,000 SOLE 75,000
Zindart LTD common 989597109 4,785 580,000 SOLE 580,000
Ziplink common 989741103 2,538 203,000 SOLE 203,000
</TABLE>
SM\M-CORP\IA-13/16\1028307.01
