13F-HR 1 q10513f.txt UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 13F FORM 13F COVER PAGE Report for the Calendar Year or Quarter Ended: March 31, 2005 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: 415 782 2610_________________ Signature, Place and Date of Signing: _________________________ San Francisco, CA_ March 26, 2005 [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.] Form 13F SUMMARY PAGE Report Summary: Number of Other Included Managers: _____0_____ Form 13F Information Table Entry Total: _____321___ Form 13F Information Table Value Total: __ 1,211,132__ 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.] NAME OF ISSUER TITLE OF CUSIP VALUE SHARES INV. OTHER AUTH CLASS X1000 DISC MGR ABX Air COMMON 00080S101 5080 701600 SOLE 701600 ADC Telecommunications COMMON 000886101 1194 600000 SOLE 600000 Access Intgrted Tch A cs COMMON 004329108 1942 325000 SOLE 325000 Adept Tech COMMON 006854202 3041 607542 SOLE 607542 Advanced Micro Devices COMMON 007903107 7915 491000 SOLE 491000 Advisory Board COMMON 00762W107 4383 100300 SOLE 100300 Aehr Test Systems COMMON 00760J108 383 122000 SOLE 122000 Airgas Inc COMMON 009363102 3583 150000 SOLE 150000 Airspan Networks COMMON 00950H102 3861 755500 SOLE 755500 Albemarle Corp COMMON 012653101 2545 70000 SOLE 70000 Allied Healthcare Intl IncCOMMON 01923A109 11808 1889329 SOLE 1889329 Alteon Inc COMMON 02144G107 740 1253900 SOLE 1253900 American Tech Co COMMON 030145205 406 50000 SOLE 50000 Anglogold Ashanti LTD COMMON 035128206 3662 106300 SOLE 106300 Applied Films COMMON 038197109 3170 137100 SOLE 137100 Aptimus Inc COMMON 03833V108 461 25000 SOLE 25000 Argon St Inc COMMON 040149106 2016 61100 SOLE 61100 Arlington Tankers LTD COMMON G04899103 2350 100000 SOLE 100000 ArtiSoft/Vertl COMMON 04314L205 2621 1188888 SOLE 1188888 Asia Aluminum Holdings LimCOMMON 6110077 1184 10500000 SOLE 10500000 Aspen Technology COMMON 045327103 1982 349000 SOLE 349000 Authentidate Hldg Corp COMMON 052666104 662 166000 SOLE 166000 BEI Technologiees, INC COMMON 05538P104 15779 658300 SOLE 658300 BJ Services COMMON 055482103 1556 30000 SOLE 30000 BP PLC COMMON 055622104 4992 80000 SOLE 80000 Baldwin & Lyons Inc COMMON 057755209 2990 115275 SOLE 115275 Bancorp Bank COMMON 05969A105 5950 424974 SOLE 424974 Benihana Inc COMMON 082047200 3541 233600 SOLE 233600 BindView Developlment COMMON 090327107 738 225000 SOLE 225000 Bio-Rad Laboratories Inc COMMON 090572207 6632 136150 SOLE 136150 Bitstream Inc COMMON 091736108 3301 1082250 SOLE 1082250 Blockbuster Inc COMMON 093679108 2870 325000 SOLE 325000 Brandpartners Group COMMON 10531R107 2489 2620000 SOLE 2620000 Brightpoint Inc COMMON 109473405 1124 60000 SOLE 60000 Burlington Northern Santa COMMON 12189T104 5393 100000 SOLE 100000 CAE Inc COMMON 124765108 1830 370000 SOLE 370000 Cabot Oil and Gas COMMON 127097103 5515 100000 SOLE 100000 Calif Micro Devices COMMON 130439102 2628 520542 SOLE 520542 Cambridge Silicon Radio COMMON 3414738 618 100000 SOLE 100000 Canico Resources COMMON 137580106 5609 448000 SOLE 448000 Capital Senior Corp COMMON 140475104 9081 1618800 SOLE 1618800 Capital Trust COMMON 14052H506 5661 170600 SOLE 170600 Carreker Corp COMMON 144433109 761 135600 SOLE 135600 Cash Systems Inc COMMON 14756B102 8503 1138350 SOLE 1138350 Cedar Fair COMMON 150185106 3556 113000 SOLE 113000 Champion Enterprises COMMON 158496109 2585 275000 SOLE 275000 CharterMac COMMON 160908109 1021 47500 SOLE 47500 ChoicePoint Inc COMMON 170388102 6257 156000 SOLE 156000 Chordiant Software COMMON 170404107 574 344000 SOLE 344000 CoStar Group COMMON 22160n109 8707 236289 SOLE 236289 Coeur D Alene Mines Corp COMMON 192108108 3777 1029050 SOLE 1029050 Collegiate Pacific COMMON 194589206 1741 157600 SOLE 157600 Collins and Aikman CorporaCOMMON 194830204 3455 2809200 SOLE 2809200 Comarco Inc. COMMON 200080109 6334 732274 SOLE 732274 Compex Technologies COMMON 204513105 1215 242500 SOLE 242500 Consol Energy Inc COMMON 20854P109 14106 300000 SOLE 300000 Corporate Executive Board COMMON 21988r102 11207 175250 SOLE 175250 Creative Technology COMMON y1775u107 2425 250000 SOLE 250000 Credence Systems COMMON 225302108 1766 223300 SOLE 223300 Critical Path COMMON 22674V506 744 1033691 SOLE 1033691 Crucell N.V. COMMON 228769105 1044 80000 SOLE 80000 Cuisine Solutions COMMON 926604109 5378 1120457 SOLE 1120457 Cumulus Media Inc COMMON 231082108 10357 726800 SOLE 726800 Cybersource Corp COMMON 23251J106 5316 1032291 SOLE 1032291 Cybex Int'l Inc COMMON 23252E106 1801 480200 SOLE 480200 Cypress Semiconductor COMMON 232806109 1260 100000 SOLE 100000 DPL Inc COMMON 233293109 1250 50000 SOLE 50000 Datalogic International COMMON 23804Q102 534 1525000 SOLE 1525000 Delta Petroleum COMMON 247907207 1890 130000 SOLE 130000 Denbury Resource Inc. COMMON 247916208 2114 60000 SOLE 60000 Digirad Corp COMMON 253827109 2043 263600 SOLE 263600 Digital Theater Systems COMMON 25389G102 1539 85000 SOLE 85000 DirecTV Group Inc COMMON 25459L106 3099 214938 SOLE 214938 Dot Hill System Corp COMMON 25848T109 1096 184200 SOLE 184200 Dryships Inc COMMON Y2109Q101 2046 105000 SOLE 105000 Duraswitch Ind Inc COMMON 266905207 1024 687345 SOLE 687345 E-Loan Inc COMMON 26861P107 3303 1246300 SOLE 1246300 EDO Corp COMMON 281347104 2593 86300 SOLE 86300 EFJ Inc COMMON 26843B101 4362 530000 SOLE 530000 EMAK Worldwide Inc COMMON 26861V104 5143 496950 SOLE 496950 EOG Resources COMMON 26875P101 9261 190000 SOLE 190000 Elan Corp. ADR COMMON 284131208 820 253000 SOLE 253000 Emcore Corp COMMON 290846104 708 210000 SOLE 210000 Emrise Corp COMMON 29246J101 2417 1655000 SOLE 1655000 EnCana Corp COMMON 292505104 6373 90500 SOLE 90500 Energy Savings Income FundCOMMON 292717105 11812 868400 SOLE 868400 Ensco Intl Inc. COMMON 26874Q100 3766 100000 SOLE 100000 Exabyte COMMON 300615101 20 76307 SOLE 76307 Exabyte Corp ser AA Preferred 300615101 247 1000000 SOLE 1000000 Excelligence Learning CorpCOMMON 300684107 1279 235147 SOLE 235147 Exxon Mobile Corp COMMON 30231G102 2384 40000 SOLE 40000 Factset Research Systems COMMON 303075105 2476 75000 SOLE 75000 Federal Home Loan Bank TREASU 31339YBK7 470 500000 SOLE 500000 Film Roman COMMON 317234102 24 217200 SOLE 217200 First Virtual Comm Cp COMMON 337484307 2 120000 SOLE 120000 Flow International Corp COMMON 343468104 5640 1301400 SOLE 1301400 Frontier Airlines COMMON 359065109 3051 291100 SOLE 291100 Fuel Tech COMMON 359523107 1003 168500 SOLE 168500 GSI Commerce COMMON 36238G102 947 70000 SOLE 70000 Garden Burger COMMON 365476100 12 1127400 SOLE 1127400 Garden Burger C prf Preferred 365476100 12 340000 SOLE 340000 Garden Burger D prf Preferred 365476100 6 159960 SOLE 159960 Gemplus International COMMON 36866y102 12821 2751246 SOLE 2751246 Genesis Microchip COMMON 37184C103 1084 75000 SOLE 75000 Genius Prod Inc COMMON 37229R206 3224 1836174 SOLE 1836174 Giant Industries COMMON 374508109 1028 40000 SOLE 40000 Gladstone Capital COMMON 376535100 2310 108855 SOLE 108855 Gladstone Commercial Cp COMMON 376536108 4449 270648 SOLE 270648 Global Payments COMMON 37940x102 10048 155800 SOLE 155800 Golar LNG Ltd COMMON G9456A100 1785 140000 SOLE 140000 Goldcorp Inc COMMON 380956409 3552 250000 SOLE 250000 Greenfield Online COMMON 395150105 12340 628011 SOLE 628011 Harmonic Inc COMMON 413160102 5736 600000 SOLE 600000 Harvard Biosciences COMMON 416906105 2055 528150 SOLE 528150 Health Fitness Corp COMMON 42217V102 1360 519000 SOLE 519000 Healtheon/WebMD COMMON 94769M105 8536 1004200 SOLE 1004200 Healthsouth Corp COMMON 421924101 21919 4097000 SOLE 4097000 Hear USA COMMON 422360305 3081 1548000 SOLE 1548000 Hollywood Media COMMON 436233100 4552 910392 SOLE 910392 Huntsman Corp COMMON 447011107 1632 70000 SOLE 70000 Hypercom Corp COMMON 44913M105 3784 800000 SOLE 800000 Iamgold Corp COMMON 450913108 7872 1282050 SOLE 1282050 Icad Inc COMMON 44934S107 658 200000 SOLE 200000 Identix Inc COMMON 451906101 454 90000 SOLE 90000 Image Entrtnmnt COMMON 452439201 4731 864829 SOLE 864829 Imageware Sys COMMON 45245S108 4474 1466553 SOLE 1466553 Infocrossing Inc COMMON 45664X109 1361 85917 SOLE 85917 Informatica Corp COMMON 45666Q102 413 50000 SOLE 50000 Innovative Solution & SuppCOMMON 45769n105 3175 100000 SOLE 100000 Innovex Inc. COMMON 457647105 160 45200 SOLE 45200 Integral Systems Inc COMMON 45810h107 230 10000 SOLE 10000 Integramed America COMMON 45810n302 2921 317500 SOLE 317500 Integrated Security Sys Note 45812J101 510 1578944 SOLE 1578944 Integrated Silicon SolutioCOMMON 45812P107 837 125000 SOLE 125000 Intel Corp. COMMON 458140100 5506 237009 SOLE 237009 Intelligroup Inc COMMON 45816A106 1466 1201600 SOLE 1201600 Intellisync Corp COMMON 458176104 1372 375000 SOLE 375000 Intermix Media Inc COMMON 45881X106 14457 1967000 SOLE 1967000 Internap Networks COMMON 45885a102 2107 3571850 SOLE 3571850 Internet Capital Group COMMON 46059C205 16554 2358056 SOLE 2358056 Intersections Inc COMMON 460981301 3002 206350 SOLE 206350 Intervoice Inc COMMON 461142101 4331 385700 SOLE 385700 Interwoven Inc COMMON 46114t508 6485 832500 SOLE 832500 Intl DisplayWorks Inc COMMON 459412102 9285 974300 SOLE 974300 Ionatron Inc COMMON 462070103 3781 455000 SOLE 455000 Ipayment Inc COMMON 46262E105 9835 233050 SOLE 233050 Isolagen COMMON 46488N103 4005 636700 SOLE 636700 Iteris Holdings Class A COMMON 46564T107 4003 1640740 SOLE 1640740 JLG Industries COMMON 466210101 2155 100000 SOLE 100000 John B Sanfilippo and Son COMMON 800422107 9895 402550 SOLE 402550 Kindred Healthcare Inc COMMON 494580103 2594 73900 SOLE 73900 Kintera Inc COMMON 49720P506 2446 461472 SOLE 461472 Komag COMMON 500453204 3352 150000 SOLE 150000 Kulicke & Soffa COMMON 501242101 629 100000 SOLE 100000 LJ Intl COMMON G55312105 406 150000 SOLE 150000 LSI Logic Corp. COMMON 502161102 1683 301000 SOLE 301000 Lakes Entertainment Inc COMMON 51206P109 504 28000 SOLE 28000 Lam Research COMMON 512807108 1789 62000 SOLE 62000 Lecroy COMMON 52324W109 5415 316100 SOLE 316100 LifePoint D pref Preferred 53215R100 202 74.8 SOLE 74.8 LifePoint D pref Preferred 53215R100 608 225.2 SOLE 225.2 LifePoint E pref Preferred 53215R100 540 200 SOLE 200 Lionore Mining Intl COMMON 535913107 1684 300000 SOLE 300000 LoJack Corp COMMON 539451104 2452 178100 SOLE 178100 Loudeye Corp COMMON 545754103 6138 4147985 SOLE 4147985 M System Inc COMMON M7061C100 2645 120000 SOLE 120000 MDC Partners Inc COMMON 552697104 15683 1649147 SOLE 1649147 MEMC Electronic Materials COMMON 552715104 4035 300000 SOLE 300000 MSGI Security Solutions COMMON 553570102 2679 369524 SOLE 369524 Mad Catz Interactive Inc COMMON 556162105 2180 1345800 SOLE 1345800 Majesco Entrtnmnt COMMON 560690208 5819 502548 SOLE 502548 Management Network Group COMMON 561693102 2199 927699 SOLE 927699 Marchex Inc COMMON 56624R108 8207 440300 SOLE 440300 Martin Marietta Materials COMMON 573284106 2796 50000 SOLE 50000 Massey Energy Company COMMON 576206106 4004 100000 SOLE 100000 Material Sciences COMMON 576674105 1883 140000 SOLE 140000 MatrixOne Inc COMMON 57685P304 4438 930400 SOLE 930400 Mentor Graphics COMMON 587200106 1096 80000 SOLE 80000 Merix Corp COMMON 590049102 448 40000 SOLE 40000 Metretek Tech Inc COMMON 59159Q107 2926 1176551 SOLE 1176551 MicroTune Inc COMMON 59514P109 172 40000 SOLE 40000 Microislet Inc COMMON 59507Q106 1415 1115384 SOLE 1115384 Microsemi Corp COMMON 595137100 8748 537000 SOLE 537000 Microtek Medical Holdings COMMON 59515B109 10447 2918067 SOLE 2918067 Modtech Holdings COMMON 60783c100 25624 3173199 SOLE 3173199 Monsanto Comp COMMON 61166W101 7095 110000 SOLE 110000 Monterey Gourmet Foods COMMON 612570101 8623 2694785 SOLE 2694785 Motorola Inc. COMMON 620076109 4757 317750 SOLE 317750 Mpower Holding Cp COMMON 62473L309 1512 1050000 SOLE 1050000 Mylan Labs COMMON 628530107 5316 300000 SOLE 300000 NCO Group COMMON 628858102 1173 60000 SOLE 60000 NMS Communications COMMON 629248105 172 40000 SOLE 40000 NVIDIA Corp COMMON 67066g104 4277 180000 SOLE 180000 NWH Inc COMMON 62946E106 2553 172500 SOLE 172500 Napster Inc COMMON 630797108 6445 1005100 SOLE 1005100 National Financial PartnerCOMMON 63607P208 11184 281000 SOLE 281000 Natrol Inc COMMON 638789107 3413 1153013 SOLE 1153013 Nautilus Inc COMMON 63910B102 10245 431200 SOLE 431200 Navarre Corp COMMON 639208107 12598 1584681 SOLE 1584681 Netopia Inc COMMON 64114k104 160 50000 SOLE 50000 New Sleepr Gld Cp COMMON 648732105 202 800000 SOLE 800000 Nice Systems Lmtd COMMON 653656108 2829 87800 SOLE 87800 Ninetowns Digital World TrCOMMON 654407105 726 80000 SOLE 80000 Noble Int'l LDT COMMON 655053106 906 40000 SOLE 40000 Nokia Cp COMMON 654902204 10801 700000 SOLE 700000 Novatel Wirelss COMMON 66987M604 5344 497057 SOLE 497057 Novell Inc. COMMON 670006105 1490 250000 SOLE 250000 Novellus Systems COMMON 670008101 2406 90000 SOLE 90000 Nuco2 Inc. COMMON 629428103 2630 100000 SOLE 100000 Nutraceutical Inc COMMON 67060Y101 5663 357036 SOLE 357036 Omnivision Technologies COMMON 682128103 757 50000 SOLE 50000 OnSite Energy COMMON 68284P108 15 1540973 SOLE 1540973 OnSite Energy Corp. ser E Preferred 68284P108 45 2250000 SOLE 2250000 Online Resoucres COMMON 68273G101 7785 883639 SOLE 883639 Opentv Corp COMMON G67543101 5929 2087769 SOLE 2087769 Openwave Systems COMMON 683718308 5767 473099 SOLE 473099 Opinion Research Corp COMMON 683755102 5355 763952 SOLE 763952 Optibase Ltd COMMON M7524R108 1083 200600 SOLE 200600 Optimal Group COMMON 68388R208 2042 112333 SOLE 112333 Option Care COMMON 683948103 2316 112500 SOLE 112500 Oracle Systems COMMON 68389X105 1248 100000 SOLE 100000 PC-Tel Inc COMMON 69325Q105 7101 964748 SOLE 964748 PLX Technology COMMON 693417107 5572 530650 SOLE 530650 PPL Corp COMMON 69351T106 3779 70000 SOLE 70000 Paincare Holdings COMMON 69562E104 9117 1823500 SOLE 1823500 Pall Corp. COMMON 696429307 3390 125000 SOLE 125000 Patron Systems COMMON 70337V108 1413 1990000 SOLE 1990000 Patterson-UTI Energy COMMON 703481101 1251 50000 SOLE 50000 Paychex, Inc. COMMON 704326107 2626 80000 SOLE 80000 Peabody Energy COMMON 704549104 3917 84500 SOLE 84500 Penn Virginia Resource ParCOMMON 707884102 864 17100 SOLE 17100 Peregrine Systems Inc COMMON 71366Q101 4634 220654 SOLE 220654 Perma-Fix Envirn Serv COMMON 714157104 932 533333 SOLE 533333 Perot Systems Co COMMON 714265105 1000 74400 SOLE 74400 Phoenix Technology COMMON 719153108 5027 528000 SOLE 528000 Plantronics Inc COMMON 727493108 1904 50000 SOLE 50000 Plato Learning COMMON 72764Y100 3432 440046 SOLE 440046 Playboy Enterprise Inc HoCOMMON 728117300 7512 582350 SOLE 582350 Poore Brothers Inc COMMON 732813100 2554 836963 SOLE 836963 Portal Player Inc COMMON 736187204 3356 147000 SOLE 147000 Printronix COMMON 742578107 5339 331600 SOLE 331600 Private Business COMMON 74267D203 2024 972966 SOLE 972966 Provide Commerce COMMON 74373W103 7557 261673 SOLE 261673 Q Comm International Inc COMMON 74727M306 743 151600 SOLE 151600 Quantum Fuel Systems Tech COMMON 74765E109 3593 776000 SOLE 776000 Questar Corp. COMMON 748356102 770 13000 SOLE 13000 Quicksilver Resources COMMON 74837R104 2359 48400 SOLE 48400 R F Monolithics Inc COMMON 74955F106 499 109500 SOLE 109500 RCG Comp Inc COMMON 749328100 346 450000 SOLE 450000 Radisys Corp. COMMON 750459109 4623 326500 SOLE 326500 Rainmaker Systms COMMON 750875106 44 81667 SOLE 81667 Range Resources Corp COMMON 75281A109 2803 120000 SOLE 120000 Recom Managed Sys COMMON 75623Q200 4800 1477000 SOLE 1477000 Red Hat Inc COMMON 756577102 1527 140000 SOLE 140000 Res-Care Inc COMMON 760943100 6455 516004 SOLE 516004 Rio Narcea Gld Mns Ltd COMMON 766909105 1187 700000 SOLE 700000 Royal Dutch Petroleum COMMON 780257804 1501 25000 SOLE 25000 Rush Enterprises COMMON 781846209 7622 486100 SOLE 486100 Safeguard Scientifics Inc.COMMON 786449108 5147 3624550 SOLE 3624550 ScanSoft COMMON 80603P107 4932 1325700 SOLE 1325700 Scientific Games COMMON 80874P109 1999 87500 SOLE 87500 Seagate Technology HoldingCOMMON G7945J104 5278 270000 SOLE 270000 ShawCor Ltd COMMON 820904209 2605 175000 SOLE 175000 Signature Bank COMMON 82669G104 1325 50000 SOLE 50000 Silicon Image Inc COMMON 82705T102 679 67500 SOLE 67500 Silicon Storage Tech COMMON 827057100 372 100000 SOLE 100000 Silicon Valley Banchares COMMON 827064106 16323 370461 SOLE 370461 Sirenza Microdevices COMMON 82966T106 1189 375000 SOLE 375000 Socket Communications COMMON 833672108 172 114500 SOLE 114500 Sonex Com Rest. COMMON 835448101 7 302693 SOLE 302693 Sonex Pfd Stk Preferred 835448101 54 253750 SOLE 253750 Sonic Solutions COMMON 835460106 1354 90000 SOLE 90000 Sonus Networks COMMON 835916107 307 72500 SOLE 72500 Southwestern Energy Comp COMMON 845467109 6255 110200 SOLE 110200 Standard Parking COMMON 853790103 1931 122750 SOLE 122750 Star Scientific COMMON 85517P101 635 120000 SOLE 120000 Stonepath Group COMMON 861837102 2775 2569000 SOLE 2569000 Stratasys COMMON 862685104 5666 200000 SOLE 200000 Sum Total Sys COMMON 866615107 3788 694934 SOLE 694934 SupportSoft Inc COMMON 868587106 207 39200 SOLE 39200 Sybase Inc COMMON 871130100 1292 70000 SOLE 70000 Syniverse Holdings COMMON 87163F106 7833 567600 SOLE 567600 TNS Inc COMMON 872960109 18695 1041500 SOLE 1041500 Talisman Energy COMMON 87425E103 4439 130000 SOLE 130000 Tarantella Inc COMMON 876090309 771 714286 SOLE 714286 Tasker Capital Corp COMMON 87652D109 5628 1675000 SOLE 1675000 Technology Investment CapiCOMMON 878717305 13627 911493 SOLE 911493 Technology Research COMMON 878727304 2951 577500 SOLE 577500 Tekelec COMMON 879101103 6934 435000 SOLE 435000 Texas Instruments Inc COMMON 882508104 5098 200000 SOLE 200000 Therma Wave COMMON 88343A108 656 340000 SOLE 340000 Thermogenesis Corp COMMON 883623209 17652 3530431 SOLE 3530431 Tidel Tech COMMON 886368109 180 1058600 SOLE 1058600 Titanium Corp COMMON 88833T104 1488 500000 SOLE 500000 Toyota Motors COMMON 892331307 5207 70010 SOLE 70010 Trident Microsystems COMMON 895919108 2210 125000 SOLE 125000 Tumbleweed Communications COMMON 899690101 207 75000 SOLE 75000 TurboChef Technologies COMMON 900006206 1669 112100 SOLE 112100 UCN Inc. COMMON 902636109 1550 650000 SOLE 650000 Ultratech Inc COMMON 904034105 12830 878750 SOLE 878750 Validian Corp COMMON 91915P107 1038 2372256 SOLE 2372256 Vasco Data Security COMMON 92230Y104 409 65000 SOLE 65000 VendingData Corp COMMON 92261Q202 294 147000 SOLE 147000 Versant Corp COMMON 925284101 167 210800 SOLE 210800 Viewpoint Corp COMMON 92672P108 3416 1220000 SOLE 1220000 Vimpel Communications COMMON 68370R109 688 20000 SOLE 20000 Virage Logic Corp COMMON 92763R104 9864 900000 SOLE 900000 Vitesse COMMON 928497106 1541 575000 SOLE 575000 WGI Heavy Minerals COMMON 929267102 2321 957000 SOLE 957000 Warderly Intl Holdings COMMON 6572224 825 6772500 SOLE 6772500 WebEx Inc COMMON 94767L109 1727 80000 SOLE 80000 West Marine COMMON 954235107 6712 315700 SOLE 315700 Western Digital Corp. COMMON 958102105 2805 220000 SOLE 220000 Xenoics Holdings COMMON 984117101 686 140000 SOLE 140000 Xilinx COMMON 983919101 3420 117000 SOLE 117000 Xinao Gas COMMON KYG9826J10 125 232000 SOLE 232000 ZI Corp COMMON 988918108 2533 629000 SOLE 629000 Zhone Technologies COMMON 98950P108 255 100000 SOLE 100000 Zindart LTD ADR's COMMON 989597109 7283 1842920 SOLE 1842920 Zoltek Cos COMMON 98975W104 3995 328500 SOLE 328500 Zygo Corp COMMON 989855101 7917 610850 SOLE 610850
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