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, 2011

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: SAGE CAPITAL MANAGEMENT, LLC
Address: 665 S. ORANGE AVENUE, SUITE 3  SARASOTA, FL  34236

13 File Number: 028-11363

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
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: MICHAEL C. IPPOLITO, CFA
Title: CHIEF COMPLIANCE OFFICER
Phone: 941-952-1032
Signature, Place and Date of Signing: MICHAEL C. IPPOLITO, CFA  SARASOTA, FL

      JULY 29, 2011


Report Type (Check only one.):
[ X]        13F HOLDINGS REPORT.
[  ]        13F NOTICE.
[  ]        13F COMBINATION REPORT.


I AM SIGNING THIS REPORT AS REQUIRED BY THE SECURITIES EXCHANGE
ACT OF 1934

                           FORM 13F SUMMARY PAGE


Report Summary:

Number of Other Included Managers:         0

Form 13F Information Table Entry Total:    44

Form 13F Information Table Value Total:    83681




               
                                                                FORM 13F INFORMATION TABLE
                                                              VALUE   SHARES/ SH/ PUT/ INVSTMT   OTHER        VOTING AUTHORITY
           NAME OF ISSUER        TITLE OF CLASS     CUSIP   x($1000) PRN AMT  PRN CALL DISCRETN MANAGERS   SOLE    SHARED    NONE
  ------------------------------ ---------------- --------- -------- -------- --- ---- -------- --------- -------- -------- --------
D ALCATEL LUCENT 2.75% SER A UNS CONVRT BONDS     549463AG2     1365  1500000 SH       SOLE                1500000        0        0
D ALLEGHENY TECH SR UNS CONV 4.2 CONVRT BONDS     01741RAD4     2565  1550000 SH       SOLE                1550000        0        0
D ALLIANCE DATA SR UNS CONV 4.75 CONVRT BONDS     018581AC2     2288  1100000 SH       SOLE                1100000        0        0
D AMYLIN PHARM INC SER B SR UNS  CONVRT BONDS     032346AF5     1229  1350000 SH       SOLE                1350000        0        0
D BIOMARIN PHARM SENIOR SUB CONV CONVRT BONDS     09061GAD3     2957  2050000 SH       SOLE                2050000        0        0
D CACI INTL INC SER B SENIOR SUB CONVRT BONDS     127190AD8     1961  1550000 SH       SOLE                1550000        0        0
D CENTRAL EUROPEAN SR UNS CONV 3 CONVRT BONDS     153435AA0      956  1150000 SH       SOLE                1150000        0        0
D CEPHALON INC SENIOR SUB CONV 2 CONVRT BONDS     156708AP4     2076  1200000 SH       SOLE                1200000        0        0
D CONSUMER STAPLES SPD R         US ETF'S - US TR 81369Y308      478    15310 SH       SOLE                  15310        0        0
D COVANTA HOLDING SR UNS CONV    CONVRT BONDS     22282EAC6     1485  1300000 SH       SOLE                1300000        0        0
D CUBIST PHARM SR UNS CONV 2.5%  CONVRT BONDS     229678AD9     2089  1500000 SH       SOLE                1500000        0        0
D DRYSHIPS INC SR UNS CONV 5%    CONVRT BONDS     262498AB4     1083  1200000 SH       SOLE                1200000        0        0
D EASTMAN KODAK CO SR UNS CONV 7 CONVRT BONDS     277461BJ7     1001  1150000 SH       SOLE                1150000        0        0
D EMC CORP SR UNS CONV 1.75% DUE CONVRT BONDS     268648AK8     2570  1500000 SH       SOLE                1500000        0        0
D ENDO PHARMA HLDG SER B SENIOR  CONVRT BONDS     29264FAB2     2041  1400000 SH       SOLE                1400000        0        0
D ENZON PHARMACEUT SER B SR UNS  CONVRT BONDS     293904AE8     1373  1150000 SH       SOLE                1150000        0        0
D GEN CABLE CORP Exch SUB DEB CO CONVRT BONDS     369300AL2     2352  1700000 SH       SOLE                1700000        0        0
D GLOBAL INDUS LTD SER B SR UNS  CONVRT BONDS     379336AE0      876  1200000 SH       SOLE                1200000        0        0
D HERTZ GLOBAL HLD SR UNS CONV 5 CONVRT BONDS     42805TAA3     3670  1800000 SH       SOLE                1800000        0        0
D ISTAR FINANCIAL SR UNS CONV FR CONVRT BONDS     45031UBF7     1144  1250000 SH       SOLE                1250000        0        0
D LIBERTY MEDIA SER B SR UNS CON CONVRT BONDS     530718AF2     2470  2050000 SH       SOLE                2050000        0        0
D LIVE NATION INC SER B SR UNS C CONVRT BONDS     538034AB5     1038  1100000 SH       SOLE                1100000        0        0
D MASTEC INC SR UNS CONV 4%      CONVRT BONDS     576323AL3     2588  1800000 SH       SOLE                1800000        0        0
D MF GLOBAL HLDGS SR UNS CONV 1. CONVRT BONDS     55277JAA6     1682  1700000 SH       SOLE                1700000        0        0
D MYLAN INC SER B SR UNS CONV 3. CONVRT BONDS     628530AJ6     3349  1700000 SH       SOLE                1700000        0        0
D NETAPP INC SER B SR UNS CONV 1 CONVRT BONDS     64110DAB0     2890  1700000 SH       SOLE                1700000        0        0
D OLD REPUBLIC INTL SR UNS CONV  CONVRT BONDS     680223AH7      397   400000 SH       SOLE                 400000        0        0
D ON SEMICONDUCTOR SER B SENIOR  CONVRT BONDS     682189AD7     1811  1150000 SH       SOLE                1150000        0        0
D PDL BIO PHARMA SR UNS GLOBAL   CONVRT BONDS     69329YAC8     1715  1750000 SH       SOLE                1750000        0        0
D PRS ULT LEH20+YR               US ETF'S - US TR 74347R297     3134    90800 SH       SOLE                  90800        0        0
D QUICKSILVER RES SER B SUB DEB  CONVRT BONDS     74837RAB0     1651  1550000 SH       SOLE                1550000        0        0
D SBA COMMUNICATIO SR UNS CONV 4 CONVRT BONDS     78388JAM8     2816  2000000 SH       SOLE                2000000        0        0
D SPDR BARCLAYS CAPTL CONV BND   US ETF'S - US TR 78464A359     3184    76750 SH       SOLE                  76750        0        0
D STANLEY BLACK CONVT PFD        PRFD STK (CONVRT 854502309     1326    11000 SH       SOLE                  11000        0        0
D SUNTECH POWER SER B SR UNS GLO CONVRT BONDS     86800CAE4     1436  1650000 SH       SOLE                1650000        0        0
D SYNNEX CORP SER B SR UNS CONV  CONVRT BONDS     87162WAB6     2401  1950000 SH       SOLE                1950000        0        0
D TEXTRON INC SR UNS CONV 4.5%   CONVRT BONDS     883203BN0     3362  1800000 SH       SOLE                1800000        0        0
D TIME WARNER TELE SR UNS CONV 2 CONVRT BONDS     887319AC5     1413  1150000 SH       SOLE                1150000        0        0
D TYSON FOODS INC SR UNS CONV    CONVRT BONDS     902494AP8     1677  1300000 SH       SOLE                1300000        0        0
D US STEEL CORP SR UNS CONV 4%   CONVRT BONDS     912909AE8     2072  1300000 SH       SOLE                1300000        0        0
D UTILITIES SELECT SEC TOR SPDR  US ETF'S - US TR 81369Y886     1535    45840 SH       SOLE                  45840        0        0
D VERISIGN INC SER B JUNIOR SUB  CONVRT BONDS     92343EAD4     1040   900000 SH       SOLE                 900000        0        0
D VIRGIN MEDIA INC SR UNS GLOBAL CONVRT BONDS     92769LAB7     2329  1300000 SH       SOLE                1300000        0        0
D WILSON GREATBATC SER B SUB DEB CONVRT BONDS     39153LAB2      806   800000 SH       SOLE                 800000        0        0
S REPORT SUMMARY                 44 DATA RECORDS               83681        0 OTHER MANAGERS ON WHOSE BEHALF REPORT IS FILED