13F-HR 1 e10101_form13f.txt FORM 13F-HR UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 Form 13F FORM 13F COVER PAGE Report for the Calendar Year or Quarter Ended: 09/30/10 Check here if Amendment [ ]; Amendment Number: ___ This Amendment (Check only one.): [ ] is a restatement [ ] adds new holdings entries Institutional Investment Manager Filing this Report: WESTCLIFF CAPITAL MANAGEMENT, LLC 200 Seventh Avenue, Suite 105 Santa Cruz, CA 95062 Form 13F File Number: 028-07054 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: RICHARD S. SPENCER III Managing Member of Westcliff Capital Management, LLC 831-477-4412 Signature, Place, and Date of Signing: /s/ Richard S. Spencer III ------------------------------ Richard S. Spencer Santa Cruz, CA 11/05/2010 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).) FORM 13F SUMMARY PAGE Report Summary: Number of Other Included Managers: 0 Form 13F Information Table Entry Total: 67 Form 13F Information Table Value Total (x$1000): $97,053 List of Other Included Managers: NONE Westcliff Capital Management, LLC FORM 13F INFORMATION TABLE AS OF 09/30/10

TITLE VALUE SHARES/ SH/ PUT/ INVSTMT OTHER VOTING AUTHORITY NAME OF ISSUER OF CLASS CUSIP (X$1000) PRN AMT PRN CALL DSCRETN MANAGERS SOLE SHARED NONE ------------------- ---------- ------ --------- -------- --- ---- ------- -------- -------- ------ ---- ~~acacia resh corp COM 003881307 408 28650 SH Sole 28650~~ advanced energy industries COM 007973100 ~~2881~~1835 ~~234392~~140472 SH Sole ~~234392~~140472 agnico-eagle mines ltd COM 008474108 ~~3082~~2622 ~~50705~~36921 SH Sole ~~50705~~36921 anadigics inc COM 032515108 ~~1423~~1987 326330 SH Sole 326330 atmel corp COM 049513104 1124 141230 SH Sole 141230 barrick gold corp COM 067901108 ~~3532~~2837 ~~77785~~61285 SH Sole ~~77785~~61285 ~~brooks~~basic ~~automation~~energy svcs inc new COM ~~114340102~~06985P100 ~~893~~2133 ~~115550~~250320 SH Sole ~~115550~~250320 calfrac well services ltd COM CA1295841 ~~2312~~2510 ~~125880~~100820 SH Sole ~~125880~~100820 ce franklin ltd COM 125151100 ~~2053~~2224 ~~319284~~332494 SH Sole ~~319284~~332494 ~~cohu~~complete ~~inc~~production services COM ~~192576106~~20453E109 ~~264~~1051 ~~21790~~51370 SH Sole ~~21790~~51370 dgdaktronics ~~fastchannel~~ inc COM ~~23326R109~~234264109 ~~3160~~784 ~~96980~~79830 SH Sole ~~96980~~79830 electro scientific inds inc COM 285229100 ~~2975~~2562 ~~222682~~230612 SH Sole ~~222682~~230612 energy fuels inc COM 292671104 67218 ~~492610~~624360 SH Sole ~~492610~~624360 energy xxi (bermuda) ltd COM G10082140 220 9500 SH Sole 9500 ethan allen interiors inc COM 297602104 ~~376~~250 ~~26870~~14340 SH Sole ~~26870~~14340 evergreen energy inc COM 30024B104 7378 ~~690501~~57550 SH Sole ~~690501~~57550 evergreen energy inc warrants COM 30024B104 0- ~~7710229~~642541 SH Sole ~~7710229~~642541 finisar corporation COM 31787A507 2758 146800 SH Sole 146800 goldcorp inc COM 380956409 ~~2690~~2294 ~~61350~~52700 SH Sole ~~61350~~52700 gse systems inc warrants COM 36227K106 0- 76527 SH Sole 76527 gsi technology COM 36241U106 401 69820 SH Sole 69820 hercules offshore inc COM 427093109 ~~1640~~1789 674970 SH Sole 674970 immersion corp COM 452521107 ~~2325~~2699 ~~459434~~456674 SH Sole ~~459434~~456674 infinera corporation COM 45667G103 2640 226220 SH Sole 226220 integrated device tech inc COM 458118106 2670 456480 SH Sole 456480 integrated silicon solution COM 45812P107 ~~2857~~4402 ~~378852~~511252 SH Sole ~~378852~~511252 kinross gold corp COM 496902404 ~~2237~~2054 ~~130895~~109295 SH Sole ~~130895~~109295 ~~kopin~~lattice semiconductor corp COM ~~500600101~~518415104 ~~726~~3398 ~~214210~~715460 SH Sole ~~214210~~715460 ~~korn~~lecroy ~~ferry~~corp ~~intl~~ COM ~~500643200~~52324W109 ~~591~~223 ~~42530~~28240 SH Sole ~~42530~~28240 ~~kulicke~~limelight &networks ~~soffa~~inc ~~industries~~ COM ~~501242101~~53261M104 ~~262~~1639 ~~37360~~278290 SH Sole ~~37360~~278290 ~~lattice~~mcmoran ~~semiconductor~~exploration ~~corp~~co COM ~~518415104~~582411104 ~~3200~~259 ~~737270~~15050 SH Sole ~~737270~~15050 micron technology inc COM 595112103 ~~429~~1809 ~~50530~~250910 SH Sole ~~50530~~250910 ~~mindspeed~~mips technologies inc COM ~~602682205~~604567107 ~~1420~~597 ~~189600~~61340 SH Sole ~~189600~~61340 ~~mks~~monolithic ~~instruments~~pwr sys inc COM ~~55306N104~~609839105 ~~1381~~702 ~~73790~~42960 SH Sole ~~73790~~42960 newmont mining corp COM 651639106 ~~2971~~2639 ~~48125~~42015 SH Sole ~~48125~~42015 oclaro inc COM 67555N206 2823 176340 SH Sole 176340 omnivision technologies COM 682128103 ~~2123~~1784 ~~99030~~77430 SH Sole ~~99030~~77430 paladin res nl COM Q7264T104 ~~109~~138 ~~37250~~39610 SH Sole ~~37250~~39610 patterson uti energy inc COM 703481101 1237 72420 SH Sole 72420 pioneer drilling co COM 723655106 2017 316080 SH Sole 316080 powerwave technologies inc COM 739363109 811 445340 SH Sole 445340 precision drilling corp COM 740215108 273 39910 SH Sole 39910 rf micro devices inc COM 749941100 ~~975~~995 ~~249250~~161980 SH Sole ~~249250~~161980 rudolph technologies inc COM 781270103 ~~1331~~1451 ~~176232~~174602 SH Sole ~~176232~~174602 ~~sanmina~~seagate ~~sci~~technology ~~corp~~ COM ~~800907206~~G7945m107 ~~1373~~788 ~~100900~~66910 SH Sole ~~100900~~66910 seahawk drilling inc. COM 81201R107 ~~1618~~1408 166428 SH Sole 166428 silicon graphics inc COM 82706L108 ~~255~~279 36000 SH Sole 36000 silicon image inc COM 82705T102 ~~819~~2315 ~~233249~~484310 SH Sole ~~233249~~484310 standard microsystems corp COM 853626109 ~~956~~972 ~~41048~~42608 SH Sole ~~41048~~42608 ~~superior~~support.com ~~well~~inc ~~svcs~~COM 86858W101 2820 615803 SH Sole 615803 t-3 energy srvcs inc COM ~~86837X105~~87306E107 ~~2885~~254 ~~172542~~9720 SH Sole ~~172542~~9720 ~~support.com~~tesco ~~inc~~corp COM ~~86858W101~~88157K101 ~~3546~~210 ~~852463~~17420 SH Sole ~~852463~~17420 treasur island rty tr unit COM 894626209 ~~1282~~2297 1068582 SH Sole 1068582 trican well service ltd - 144a COM 895945202 ~~960~~1196 75000 SH Sole 75000 trican well svc ltd COM 895945103 ~~1467~~438 ~~114570~~27470 SH Sole ~~114570~~27470 trident microsystems inc COM 895919108 ~~699~~2833 ~~492220~~1656520 SH Sole ~~492220~~1656520 triquint semiconductor inc COM 89674K103 ~~1531~~1132 ~~250590~~117960 SH Sole ~~250590~~117960 trueblue inc COM 89785X101 ~~1134~~1928 ~~101371~~141254 SH Sole ~~101371~~141254 twin disc inc COM 901476101 ~~1291~~2200 ~~113669~~157679 SH Sole ~~113669~~157679 ~~txco res inc COM 87311M102 0 70240 SH Sole 70240~~ uex corp COM 902666106 ~~161~~221 ~~224970~~225710 SH Sole ~~224970~~225710 ~~ultra~~ultratech ~~clean hldgs~~ inc COM ~~90385V107~~904034105 ~~2127~~3289 ~~249639~~192368 SH Sole ~~249639~~192368 ur energy inc COM 91688R108 ~~1079~~1268 ~~1383130~~1280520 SH Sole ~~1383130~~1280520 uranium energy corp com COM 916896103 ~~731~~537 ~~309586~~163736 SH Sole ~~309586~~163736 uranium energy corp warrants COM 916896103 037 208333 SH Sole 208333 vantage drilling co COM G93205113 ~~780~~925 578060 SH Sole 578060 ~~volterra~~western ~~semiconductor~~digital corp COM ~~928708106~~958102105 ~~799~~802 ~~34635~~28240 SH Sole ~~34635~~28240 willbros group inc COM 969203108 162 17620 SH Sole 17620 xyratex ltd COM G98268108 ~~2734~~1805 ~~193227~~121637 SH Sole ~~193227~~121637 REPORT SUMMARY 5667 DATA RECORDS ~~78993~~97053 0 OTHER MANAGERS ON WHOSE BEHALF REPORT IS FILED

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