<PAGE> 1
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 [ ]; Amendment Number:
This Amendment (Check only one): [ ] is a restatement
[ ] adds new holdings entries
Institutional Investment Manager Filing this Report:
Name: GBU Inc.
Address: 70 East 55th Street - 12th Floor
New York, New York 10022
13F File Number: 28-3994
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 August 7, 2000
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: 22
Form 13F Information Table Value Total: $457,660
List of Other Included Managers: None
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FORM 13F INFORMATION TABLE
<TABLE>
<CAPTION>
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NAME OF TITLE OF CUSIP VALUE SHARES/ SH/PRN PUT/
ISSUER CLASS (x$1000) PRN AMT CALL
------------------------------------------------------------------------------------------------------------------------
<S> <C> <C> <C> <C> <C> <C>
Advanced COM 00754U101 38,817 2,654,164 SH
Radio
Telecom
------------------------------------------------------------------------------------------------------------------------
AT&T COM LIB 001957208 1,953 80,730 SH
Corp. GRP A
------------------------------------------------------------------------------------------------------------------------
Calif.Fed 2nd CONT. 130209703 424 646,674
Bank FSB LITIG.
------------------------------------------------------------------------------------------------------------------------
Calif. Fed. CONT. LITIG. 130209604 526 350,751
Bank FSB REC.
------------------------------------------------------------------------------------------------------------------------
Cell COM 15114R101 38,944 1,716,885 SH
Pathways
Inc.
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Cendant COM 151313103 36,975 2,550,000 SH
Corp.
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Cendant RT PUR PRIDES 151313111 4,018 476,155 RT
Corp.
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Citrix Sys SD CV ZRO 177376AA8 1,794 5,000,000 PRN
Inc. 144A19
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Danaher COM 235851102 46,387 938,300 SH
Corp.
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Global PFD CV G3921A126 3,053 39,200 SH
Crossing 6.375%
Ltd.
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Golden WT EX 381197136 1,548 1,375,642 WT
State 000000
Bancorp
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Kerr McGee SB DB CV 492386AP2 1,151 1,000,000 PRN
Corp. 5.25% 10
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</TABLE>
<TABLE>
<CAPTION>
------------------------------------------------------------------------------------------------------------------
NAME OF INVSTMT OTHER VOTING VOTING VOTING
ISSUER DSCRETN MANAGERS AUTHORITY AUTHORITY AUTHORITY
SOLE SHARED NONE
------------------------------------------------------------------------------------------------------------------
<S> <C> <C> <C> <C> <C>
Advanced SOLE 2,654,164 0 0
Radio
Telecom
------------------------------------------------------------------------------------------------------------------
AT&T SOLE 80,730 0 0
Corp.
------------------------------------------------------------------------------------------------------------------
Calif.Fed SOLE 0 0 0
Bank FSB
------------------------------------------------------------------------------------------------------------------
Calif. Fed. SOLE 0 0 0
Bank FSB
------------------------------------------------------------------------------------------------------------------
Cell SOLE 1,716,885 0 0
Pathways
Inc.
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Cendant SOLE 2,550,000 0 0
Corp.
------------------------------------------------------------------------------------------------------------------
Cendant SOLE 0 0 0
Corp.
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Citrix Sys SOLE 0 0 0
Inc.
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Danaher SOLE 938,300 0 0
Corp.
------------------------------------------------------------------------------------------------------------------
Global SOLE 39,200 0 0
Crossing
Ltd.
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Golden SOLE 0 0 0
State
Bancorp
------------------------------------------------------------------------------------------------------------------
Kerr McGee SOLE 0 0 0
Corp.
------------------------------------------------------------------------------------------------------------------
</TABLE>
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<TABLE>
<S> <C> <C> <C> <C> <C>
------------------------------------------------------------------------------------------------------------------
Kmart Fing PFD TR CV 498778208 946 25,975 SH
7.75%
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MCI COM 55268B106 3,208 70,500 SH
Worldcom
Inc.
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National CAP UTS 632525309 34 1,190 SH
Australia EXCHBL
Bank Ltd.
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Nextel CLA 65332V103 122,258 2,069,972 SH
Commun.
Inc.
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PSI Net Inc. PFD CV 6.75 74437C309 1,823 37,300 SH
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Qwest COM 749121109 2,037 41,000 SH
Commun.
Inc.
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Royal PFD CONV V7780T103 462 24,999 SH
Caribbean
Cruises
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Sovereign COM 845905108 10,675 1,525,000 SH
Bancorp. Inc.
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Stmicro- SB LYON 861012AB8 2,866 1,665,000 PRN
electronics Zero 09
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WinStar COM 975515107 137,761 4,051,783 SH
Commun.
Inc.
------------------------------------------------------------------------------------------------------------------
</TABLE>
<TABLE>
<S> <C> <C> <C> <C> <C> <C>
------------------------------------------------------------------------------------------------------------------------
Kmart Fing SOLE 25,975 0 0
------------------------------------------------------------------------------------------------------------------------
MCI SOLE 70,500 0 0
Worldcom
Inc.
------------------------------------------------------------------------------------------------------------------------
National SOLE 1,190 0 0
Australia
Bank Ltd.
------------------------------------------------------------------------------------------------------------------------
Nextel SOLE 2,069,972 0 0
Commun.
Inc.
------------------------------------------------------------------------------------------------------------------------
PSI Net Inc. SOLE 37,300 0 0
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Qwest SOLE 41,000 0 0
Commun.
Inc.
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Royal SOLE 24,999 0 0
Caribbean
Cruises
------------------------------------------------------------------------------------------------------------------------
Sovereign SOLE 1,525,000 0 0
Bancorp. Inc.
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Stmicro- SOLE 0 0 0
electronics
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WinStar SOLE 4,051,783 0 0
Commun.
Inc.
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</TABLE>
