UNITED STATES
                       SECURITIES AND EXCHANGE COMMISSION
                             Washington, D.C. 20549
                                    Form 13F

                               FORM 13F COVER PAGE

Report for the Calendar Year or Quarter Ended:       12/31/00

Check here if Amendment [  ]  ; Amendment Number:
This Amendment:         [  ]  is a restatement
                        [  ]  adds new holdings entries
Institutional Investment Manager Filing this Report:

Name:             Sequoia Partners (Omega)
Address:          3000 Sand Hill Road
                  Bldg 4, Suite 280
                  Menlo Park, CA  94025

Form 13F File Number:      28-

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:    Thomas F. Stephenson
Title:   Managing Member
Phone:   (650) 854-3927

Signature, Place, and Date of Signing:

Thomas F Stephenson        Menlo Park, California    02/02/01
- -------------------        ----------------------    --------

Report Type:

[ X ]  13F HOLDINGS REPORT
[   ]  13F NOTICE
[   ]  13F COMBINATION REPORT





                              FORM 13F SUMMARY PAGE

Report Summary:

Number of Other Included Managers:                   0
Form 13F Information Table Entry Total:              5
Form 13F Information Table Value Total:         $8,413
(Thousands)

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.

NONE







                                                       Sequoia Partners (Omega)
                                                      Form 13F Information Table
                                                          As of 12/31/00


                                                                         

                                                                                                                 Voting Authority
                             Title of                      Value       Shares/  Sh/ Put/ Invstmt  Other         --------------------
      Name of Issuer         Class       CUSIP           (x$1000)      PrnAmt   Prn Call Dscretn Managers       Sole   Shared   None
- ---------------------------- --------    ---------      ---------    ---------  --- ---- ----------------       --------------------
CORIXA                       COMMON      21887FOC9            88         3,144  SH        SOLE                    3,144
MEDICALOGIC INC              COMMON      584642102           978       422,942  SH        SOLE                  422,942
PEOPLESOFT                   COMMON      712713106           357         9,589  SH        SOLE                    9,589
PICTURETEL                   COMMON      720035302           251       105,672  SH        SOLE                  105,672
RITA MEDICAL SYSTEMS         COMMON      76774E103         6,739       792,780  SH        SOLE                  792,780