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, 2000
Check here if Amendment: __X_; Amendment Number: ___
This Amendment (Check only one.) __X_ 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:
_________________________ San Francisco, CA_ July 10, 2000
[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: _____252___
Form 13F Information Table Value Total: __1,591,467__
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
NONE 28-___________ ___________________________
[Repeat as necessary.]
<PAGE>
NAME OF ISSUER TITLE OF CUSIP VALUE SHARES INV. OTHER AUTH
CLASS X1000 DISC MGR
<TABLE>
<S> <C> <C> <C> <S> <C> <C>
Adaptive Broadband Corp common 00650M104 25,707 699,500 SOLE 699,500
Advanced Fibre Communicationcommon 00754A105 12,597 278,000 SOLE 278,000
Advanced Radio Telecommunicacommon 00754U101 658 45,000 SOLE 45,000
Allaire Corp common 016714107 1,624 44,200 SOLE 44,200
Allied Capital common 01903Q107 680 40,000 SOLE 40,000
American Capital Strategies common 024937104 7,177 300,600 SOLE 300,600
Ameripath common 03071D109 4,197 472,900 SOLE 472,900
Analog Devices common 032654105 5,852 77,000 SOLE 77,000
Analysts International common 032681108 1,648 176,930 SOLE 176,930
APEX INC. common 037548104 9,188 210,000 SOLE 210,000
Applied Imaging common 03820G106 441 196,000 SOLE 196,000
Aremisoft Corp common 040026106 2,412 77,500 SOLE 77,500
Ariel CP common 04033M104 508 182,000 SOLE 182,000
ArtiSoft common 04314L106 1,200 99,000 SOLE 99,000
Aspen Technology common 045327103 1,348 35,000 SOLE 35,000
At Comm Corp common 00208K105 9,259 548,564 SOLE 548,564
Atmel Corp. common 049513104 1,991 54,000 SOLE 54,000
Autodesk common 052769106 9,522 274,500 SOLE 274,500
Banc Plus Corp cvt bnd 06446AA5 619 825,000 SOLE 825,000
Bitstreams common 091736108 5,959 944,000 SOLE 944,000
Blue Wave Systems common 096081104 206 20,000 SOLE 20,000
Boston Communications Group common 100582105 2,447 174,800 SOLE 174,800
Bright Station PLC ADR common 10921M106 3,310 638,000 SOLE 638,000
Brooks Automation common 11434A100 6,790 106,200 SOLE 106,200
Buckle Inc common 118440106 705 60,000 SOLE 60,000
Business Resource Group common 12329K104 857 134,400 SOLE 134,400
Cabletron common 126920107 3,156 125,000 SOLE 125,000
Calico Commerce common 129897104 1,157 71,200 SOLE 71,200
California Micro Devices common 130439102 3,053 100,500 SOLE 100,500
Callaway Golf Co. common 131193104 9,086 557,000 SOLE 557,000
CapRock Communications common 140667106 780 40,000 SOLE 40,000
Career Education common 141665109 16,160 333,200 SOLE 333,200
Caremark Rx Inc common 141705103 36,766 5,396,900 SOLE 5,396,900
Celeritek Inc common 150926103 6,534 162,600 SOLE 162,600
Centura Software common 15640W103 1,704 309,800 SOLE 309,800
Certicom Corp common 156915100 17,023 479,600 SOLE 479,600
Chevy Chase common 166784207 581 23,000 SOLE 23,000
Cholestech Corp. common 170393102 51 6,700 SOLE 6,700
Ciena Corp common 171779101 2,000 12,000 SOLE 12,000
Clickaction Inc common 18681E107 21,640 1,352,500 SOLE 1,352,500
ClipClop.Com Enterprises common 188837108 90 340,600 SOLE 340,600
CMG Information Services common 125750109 91,234 1,991,455 SOLE 1,991,455
CoastCast common 19057T108 4,875 276,600 SOLE 276,600
Cobalt Networks common 19074R101 1,158 20,000 SOLE 20,000
Coherent Inc. common 192479103 43,976 524,300 SOLE 524,300
Com21 Inc common 205937105 2,758 110,300 SOLE 110,300
Comverse Technology common 205862402 13,020 140,000 SOLE 140,000
Consolidated Ecoprogress Teccommon 208866101 46 90,000 SOLE 90,000
Corporate Executive Board common 21988R102 14,538 242,800 SOLE 242,800
CoStar Group common 22160N109 13,085 522,103 SOLE 522,103
Covad Communications common 222814204 1,523 94,425 SOLE 94,425
CP Claire Corp common 12615K107 986 134,880 SOLE 134,880
Creative Technology common Y1775U107 1,433 60,000 SOLE 60,000
Credit Management Solutions common 224905109 4,412 739,200 SOLE 739,200
Cuisine Solutions common 229904107 2,424 1,583,057 SOLE 1,583,057
Cylink CP common 232565101 4,770 284,800 SOLE 284,800
Cypress Semiconductor common 232806109 4,415 104,500 SOLE 104,500
Dallas Semiconductor Corp. common 235204104 1,223 30,000 SOLE 30,000
DAOU Systems common 237015102 1,688 1,000,000 SOLE 1,000,000
Data Critical Corp common 237622105 332 25,500 SOLE 25,500
Datastream Systems common 238124101 756 60,500 SOLE 60,500
Dataware Technologies common 237920103 3,169 685,100 SOLE 685,100
Descartes Systems common 249906108 29,311 967,700 SOLE 967,700
Digimarc Corp common 253807101 30,892 802,380 SOLE 802,380
Digital Insight Corp common 25385P106 3,270 96,189 SOLE 96,189
Dreyers Ice Cream common 261878102 28,348 1,349,888 SOLE 1,349,888
DSET Corp common 262504103 13,165 433,400 SOLE 433,400
Dycom common 267475101 2,231 48,500 SOLE 48,500
Dynatech Corp common 268140100 544 30,000 SOLE 30,000
E4L Inc. common 268452109 455 560,500 SOLE 560,500
EBenX Inc common 278668108 4,757 224,500 SOLE 224,500
Efficient Networks common 282056100 1,471 20,000 SOLE 20,000
EMC Corp. common 268648102 5,842 75,928 SOLE 75,928
Emcore Corp common 290846104 7,080 59,000 SOLE 59,000
Empyrean Biosciences common 29245E103 123 245,500 SOLE 245,500
Engage Inc. common 292827102 5,002 386,600 SOLE 386,600
Equity Marketing common 294724109 3,278 308,500 SOLE 308,500
E-Sim Lt common M40990109 1,875 192,300 SOLE 192,300
ESPS INC common 269129102 2,437 628,800 SOLE 628,800
Etinuum Inc common 297664104 1,950 346,600 SOLE 346,600
EXcelon Corp common 300691102 5,909 744,400 SOLE 744,400
Extensity Inc common 302255104 1,171 34,200 SOLE 34,200
Extreme Networks common 30226D106 25,832 244,850 SOLE 244,850
Featherlite Manufacturing common 313054108 554 155,500 SOLE 155,500
Fila Holdings common 316850106 882 83,500 SOLE 83,500
Film Roman common 317234102 982 982,000 SOLE 982,000
First American Financial common 318522307 716 50,000 SOLE 50,000
Fresh America common 358034106 1,561 734,400 SOLE 734,400
Gadzooks Inc. common 362553109 576 49,600 SOLE 49,600
Garden Burger common 365476100 3,731 663,200 SOLE 663,200
Genesis Microchip common 371933102 2,193 122,700 SOLE 122,700
Genome Therapeutics common 371931106 6,086 199,950 SOLE 199,950
Geoworks common 373692102 2,422 153,800 SOLE 153,800
Globespan common 379571102 1,587 13,000 SOLE 13,000
Granite Construction common 387328107 3,080 125,700 SOLE 125,700
Guitar Center common 402040109 645 61,400 SOLE 61,400
Ha Lo Industries common 404429102 2,818 501,000 SOLE 501,000
Harmonic Lightwaves common 413160102 743 30,000 SOLE 30,000
Healthcare.com Corp common 42221Y100 4,620 1,642,500 SOLE 1,642,500
Healthgate Data common 42222H106 177 109,000 SOLE 109,000
Hi/Fn Inc common 428358105 222 5,000 SOLE 5,000
Hibernia Foods PLC ADR common 428660104 3,935 516,000 SOLE 516,000
Hibernia Foods [email protected] wts 428660120 512 117,000 SOLE 117,000
Hibernia Foods [email protected] wts 428660138 468 117,000 SOLE 117,000
Hollywood.com Inc common 089144109 4,845 625,100 SOLE 625,100
Hyperion Solutions Corp common 44914M104 1,135 35,000 SOLE 35,000
Image Entertainment common 452439201 155 42,000 SOLE 42,000
Infinium Software common 45662Y109 2,283 570,700 SOLE 570,700
Infonautics Inc common 456662105 1,731 395,700 SOLE 395,700
Information Res Engineer common 45675F303 1,098 43,500 SOLE 43,500
Inprise Corp common 45766C102 1,562 255,000 SOLE 255,000
Integral Systems Inc common 45810H107 1,725 108,000 SOLE 108,000
Integramed America common 45810N302 631 206,100 SOLE 206,100
Intel Corp. common 458140100 2,547 19,050 SOLE 19,050
Intercept Group common 45845L107 1,729 101,700 SOLE 101,700
Internap Networks common 45885A102 2,532 61,000 SOLE 61,000
Intertan Inc common 461120107 3,558 302,850 SOLE 302,850
Intraware common 46118M103 749 46,600 SOLE 46,600
Intuit Inc common 461202103 6,436 155,550 SOLE 155,550
Invivo Corp. common 461858105 3,619 329,000 SOLE 329,000
Iridex common 462684101 7,702 604,100 SOLE 604,100
Ironstone common 463228205 15 13,506 SOLE 13,506
ISG Intl Software common M5733B104 304 25,750 SOLE 25,750
Isolyser Inc. common 464888106 1,824 530,500 SOLE 530,500
ITXC Inc common 45069F109 5,332 150,600 SOLE 150,600
JD Edwards and Co. common 281667105 610 40,500 SOLE 40,500
JDS Uniphase common 46612J101 25,653 214,000 SOLE 214,000
Keynote Systems common 493308100 4,198 59,500 SOLE 59,500
Kulicke & Soffa common 501242101 4,679 78,800 SOLE 78,800
Kushner-Locke common 501337406 6,130 3,064,900 SOLE 3,064,900
L3 Communications common 502424104 5,421 95,000 SOLE 95,000
Landamerica Financial common 514936103 312 13,600 SOLE 13,600
Lante Corp common 516540101 5,398 264,100 SOLE 264,100
Lattice Semiconductor common 518415104 5,848 84,600 SOLE 84,600
Lifeminders Inc. common 53219H108 27,801 940,400 SOLE 940,400
LSI Logic Corp. common 502161102 3,047 56,300 SOLE 56,300
LTX Corp. common 502392103 35,724 1,022,500 SOLE 1,022,500
Lynx Therapeutics common 551812308 2,397 50,405 SOLE 50,405
Macromedia Inc. common 556100105 9,524 98,500 SOLE 98,500
Manufacturers Services common 565005105 617 30,000 SOLE 30,000
Marchfirst Inc common 566244109 11,675 639,731 SOLE 639,731
Marketing Services Group common 570907105 3,562 812,600 SOLE 812,600
Martek Biosciences common 572901106 8,618 459,600 SOLE 459,600
Matria Healthcare common 576817100 9,249 2,013,479 SOLE 2,013,479
Maxxcom Inc common 57777W100 2,162 400,000 SOLE 400,000
MDC Corp common 55267W309 20,517 2,320,715 SOLE 2,320,715
MDSI Mobile Data Solution common 55268N100 2,443 103,500 SOLE 103,500
MDU Communications common 582828109 50 20,000 SOLE 20,000
Med-Design Co common 583926100 5,231 462,400 SOLE 462,400
Medicalogic Medscape Inc common 584642102 3,831 414,200 SOLE 414,200
Menire Corp common 010558182 2,026 409,316 SOLE 409,316
Mentor Graphics common 587200106 1,193 60,000 SOLE 60,000
Micron Technology Inc. common 595112103 2,290 26,000 SOLE 26,000
Modtech Holdings common 60783C100 37,561 4,173,494 SOLE 4,173,494
Monterey Pasta common 612570101 10,782 2,574,900 SOLE 2,574,900
Motient Corp common 619908106 8,981 572,500 SOLE 572,500
MTI Technology Corp. common 553903105 16 2,000 SOLE 2,000
National Information Consortcommon 636491102 4,580 402,600 SOLE 402,600
National Wireless Hldg common 638560102 2,882 131,000 SOLE 131,000
Natrol Inc common 638789107 1,940 596,950 SOLE 596,950
Navisite Inc common 63935M109 19,863 475,050 SOLE 475,050
Netcentives common 64108P101 9,573 514,000 SOLE 514,000
NetIQ Corp common 64115P102 8,734 146,479 SOLE 146,479
Network Appliance common 64120L104 38,157 474,000 SOLE 474,000
Newgen Results Corp common 651359101 5,244 317,800 SOLE 317,800
Nike common 654106103 1,604 40,300 SOLE 40,300
Niku Corp common 654113109 8,589 254,475 SOLE 254,475
Norsat Int'l common 656512100 2,994 373,500 SOLE 373,500
Nucentrix common 670198100 8,349 327,400 SOLE 327,400
OneSource Information Serviccommon 68272J106 4,958 661,100 SOLE 661,100
OnSite Energy common 68284P108 310 2,954,513 SOLE 2,954,513
Ontro Inc common 683380109 225 106,000 SOLE 106,000
Ontro Inc Wts @8.25 wts 683380117 28 100,000 SOLE 100,000
Onyx Software common 683402101 9,055 305,000 SOLE 305,000
Opinion Research Corp common 683755102 4,647 701,400 SOLE 701,400
Orthologic Corp common 68750J107 5,281 1,069,600 SOLE 1,069,600
Panamsat Corp common 697933109 7,466 170,900 SOLE 170,900
P-Com Inc common 693262107 1,745 306,850 SOLE 306,850
Peoplesoft Inc. common 712713106 67 4,000 SOLE 4,000
Per-Se Technologies Inc common 713569200 14,554 1,552,464 SOLE 1,552,464
PhotoMedex common 517903308 3,175 200,000 SOLE 200,000
Photon Dynamics common 719364101 3,734 50,000 SOLE 50,000
Pinnacle Systems common 723481107 37,259 1,657,100 SOLE 1,657,100
Pittsburgh Pa Pub Pkg cvt bnd 725259GR 10 10,000 SOLE 10,000
PMR Corp common 693451106 4,473 1,325,421 SOLE 1,325,421
Polycom common 73172K104 22,855 242,900 SOLE 242,900
Premier Parks common 83001P109 228 10,000 SOLE 10,000
Primus Knowledge Solutions common 74163Q100 675 15,000 SOLE 15,000
Primus Telecommunications Grcommon 741929103 3,731 150,000 SOLE 150,000
Puma Technology common 745906107 32,813 1,223,800 SOLE 1,223,800
QLogic common 747277101 5,582 84,500 SOLE 84,500
QRS Corp common 74726X105 1,628 66,300 SOLE 66,300
Quicklogic Corp common 74837P108 1,113 50,000 SOLE 50,000
Quiksilver Inc common 74838C106 1,092 70,200 SOLE 70,200
Radisys Corp. common 750459109 9,165 161,500 SOLE 161,500
Rateexchange Corp common 754091106 255 42,000 SOLE 42,000
Redwood Trust common 758075402 8,172 583,700 SOLE 583,700
Remec Inc. common 759543101 19,870 474,500 SOLE 474,500
Remedy Corp common 759548100 3,345 60,000 SOLE 60,000
Renaissance Worldwide common 75968A109 3,376 2,160,900 SOLE 2,160,900
Research in Motion common 760975102 17,657 391,600 SOLE 391,600
Robotic Visions Systems common 771074101 10,397 577,600 SOLE 577,600
RSA Security Inc. common 749719100 15,914 229,800 SOLE 229,800
S 1 Corporation common 78463B101 13,602 583,450 SOLE 583,450
Sabre Group Holdings common 785905100 285 10,000 SOLE 10,000
Safeguard Scientifics Inc. common 786449108 15,618 487,100 SOLE 487,100
Samsung common 795992015 2,940 15,000 SOLE 15,000
Santa Barbara Restaurant Grocommon 801378100 509 509,400 SOLE 509,400
Santa Cruz Operation common 801833104 6,305 989,000 SOLE 989,000
Savoir Tech common 80533W107 2,851 403,700 SOLE 403,700
Savvis Communications common 805423100 328 25,100 SOLE 25,100
Schuler Hms cvt bnd @21.83 cvt bnd 808188AA4 994 1,250,000 SOLE 1,250,000
Schuler Homes common 808188106 392 64,000 SOLE 64,000
Sino Forest CL A common 82934H101 2,721 2,776,400 SOLE 2,776,400
Sirit Technology common 82966K105 97 192,000 SOLE 192,000
Softnet Systems common 833964109 2,577 267,750 SOLE 267,750
Sonex common 835448101 48 110,000 SOLE 110,000
Spectrian Corp. common 847608106 6,773 407,400 SOLE 407,400
Sportsline USA common 848934105 606 35,500 SOLE 35,500
Stake Technology common 852559103 4,276 3,040,600 SOLE 3,040,600
Startec Glbl Commun CP common 85569E103 1,538 143,900 SOLE 143,900
Student Advantage Inc common 86386Q105 3,680 503,200 SOLE 503,200
Synbiotics Corp. common 871566105 2,613 1,100,100 SOLE 1,100,100
Tankology common 87583E101 1413,588,658 SOLE 13,588,658
Tekelec common 879101103 36,969 767,200 SOLE 767,200
TeleCorp PCS CL A common 879299105 4,309 106,900 SOLE 106,900
Telemate.Net Software common 87943L100 48 15,000 SOLE 15,000
Telscape International common 87969E105 364 35,500 SOLE 35,500
Therma Wave common 88343A108 1,250 56,000 SOLE 56,000
Thermo Electron common 883556102 527 25,000 SOLE 25,000
Tidel Tech common 886368109 7,970 802,000 SOLE 802,000
Tricom common 89612A100 2,467 161,100 SOLE 161,100
Triton PCS Holdings common 89677M106 9,309 161,200 SOLE 161,200
U.S. Treasury Notes 7% 7/1/9us treas 912827Y55 36 35,000 SOLE 35,000
US Internetworking Inc common 917311805 3,629 177,562 SOLE 177,562
US Search.com Inc common 903381101 885 442,500 SOLE 442,500
VA Linux Systems common 91819B105 9,361 217,687 SOLE 217,687
VCampus Corp common 903196103 754 86,200 SOLE 86,200
VI Technologies common 917920100 2,800 400,000 SOLE 400,000
Vidamed common 926530106 619 300,000 SOLE 300,000
Vista Information Solutions common 928365204 105 49,500 SOLE 49,500
Vitesse Semiconductors common 928497106 78,315 1,064,600 SOLE 1,064,600
Vizacom Inc common 92855E102 611 222,223 SOLE 222,223
Wave Systems common 943526103 791 50,000 SOLE 50,000
Western Garnet Co. common 95825D105 397 784,000 SOLE 784,000
Western Water Co common 959881103 48 109,600 SOLE 109,600
Wolverine Worldwide common 978097103 7,719 781,690 SOLE 781,690
Workflow Management common 98137N109 1,188 100,000 SOLE 100,000
Worldquest Networks common 98156W105 485 68,000 SOLE 68,000
Zindart LTD common 989597109 2,026 675,200 SOLE 675,200
Ziplink common 989741103 273 45,450 SOLE 45,450
Z-Tel Technologies common 988792107 1,080 90,000 SOLE 90,000
</TABLE>
SM\M-CORP\IA-13/16\1028307.01
