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UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM 13F
INFORMATION REQUIRED OF INSTITUTIONAL INVESTMENT MANAGERS PURSUANT
TO SECTION 13(f) OF THE SECURITIES EXCHANGE ACT OF 1934 AND RULES THEREUNDER
Report for the Calendar Year or Quarter Ended Sept. 30, 1999.
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(Please read instructions before preparing form.)
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If amended report check here: [ ]
PAR Capital Management Inc.
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Name of Institutional Investment Manager
One Financial Center, Suite 1600 Boston MA 02111
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Business Address (Street) (City) (State) (Zip)
Frederick S. Downs Jr., Vice President (617) 526-8990
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Name, Phone No., and Title of Person Duly Authorized to Submit This Report.
- ---------------------------------- ATTENTION -----------------------------------
INTENTIONAL MISSTATEMENTS OR OMISSIONS OF FACTS CONSTITUTE
FEDERAL CRIMINAL VIOLATIONS. SEE 18 U.S.C. 1001 AND 15 U.S.C. 78ff(a).
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The institutional investment manager submitting this Form and its attachments
and the person by whom it is signed represent hereby that all information
contained therein is true, correct and complete. It is understood that all
required items, statements and schedules are considered integral parts of this
Form and that the submission of any amendment represents that all unamended
items, statements and schedules remain true, correct and complete as previously
submitted.
Pursuant to the requirements of Securities Exchange Act of 1934, the
undersigned institutional investment manager has caused this report to be signed
on its behalf in the City of Boston and State of Massachusetts on the 12th day
of November, 1999.
PAR Capital Management Inc.
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(Name of Institutional Investment Manager
/s/ Frederick S. Downs Jr.
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(Manual Signature of Person Duly Authorized
to Submit This Report)
Name and 13F file numbers of ALL Institutional Investment Managers with respect
to which this schedule is filled (other than the one filing this report): (List
in alphabetical order).
13F File Numbers will be assigned to Institutional Investment Managers after
they file their first report.
Name: 13F File No.: Name: 13F File No.:
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1. 6.
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2. 7.
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3. 8.
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4. 9.
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5. 10.
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SEC 1685 (5/91)
<PAGE> 2
FORM 13F
<TABLE>
<CAPTION>
As of 9/30/99
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Item 5:
Item 1: Item 2: Item 3: Item 4: Shares of
Name of Issuer Title of Class CUSIP Fair Market Principal
Number Value Amount
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<S> <C> <C> <C> <C>
ACME Electric Corp. Common 004644100 $97,750.00 17,000
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Alaska Air Group Inc. Common 011659109 $9,154,687.50 225,000
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AMC Entertainment Inc. Common 001669100 $7,665,625.00 550,000
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Ackerley Communications Common 004527107 $1,231,250.00 100,000
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Amtran Inc. Common 03234G106 $13,237,500.00 706,000
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Ameristar Casinos Inc Common 03070Q101 $27,656.25 7,500
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Anchor Gaming Common 033037102 $1,547,000.00 26,000
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Beringer Wine Estates Holdings Common 084102102 $2,057,231.25 50,100
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Beverly Enterprises Common 087851309 $2,125,000.00 500,000
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Bolle Inc. Common 097937106 $560,625.00 195,000
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Boyd Gaming Corp. Common 103304101 $250,200.00 41,700
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CKE Restraurants Inc Common 12561E105 $951,200.00 131,200
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Carmike Cinemas Inc. Class A Common 143436103 $2,361,187.50 179,900
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Casino Data Systems Common 147583108 $585,000.00 120,000
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Catalina Marketing Corp. Common 148867104 $12,721,875.00 150,000
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Championship Auto Racing Teams Inc Common 158711101 $4,633,200.00 178,200
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Cheap Tickets Inc Common 162672109 $3,399,375.00 105,000
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Churchill Downs Inc Common 171484108 $1,271,875.00 55,000
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Condor Technology Solutions Common 206772105 $3,168,750.00 1,300,000
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Cree Research Inc. Common 225447101 $5,158,500.00 152,000
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Crossman Communities Inc. Common 22764E109 $1,647,562.50 101,000
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Customtracks Corporation Common 232046102 $2,784,750.00 94,000
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Dover Downs Entertainment Common 260086103 $9,021,525.00 650,200
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Echostar Communications Class A Common 278762109 $12,713,750.00 140,000
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ELITE Information Group Inc Co Common 28659M106 $6,025,231.25 1,220,300
</TABLE>
<TABLE>
<CAPTION>
-----------------------------------
As of 9/30/99 Name of Reporting manager:(SEC USEIONLY)ANAGEMENT, INC. (SEC USE ONLY)
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Item 6:
Investment Discretion
------------------------------------ Item 8
(b) Shared- Item 7: Voting Authority (Shares)
Item 1: As Defined (c) Shared- Managers ---------------------------------------
Name of Issuer (a) Sole in Instr. V Other See Instr. V (a) Sole (b) Shared (c) None
- ------------------------------------------------------------------------------------------------------------------------------
<S> <C> <C>
ACME Electric Corp. X 17,000
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Alaska Air Group Inc. X 225,000
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AMC Entertainment Inc. X 550,000
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Ackerley Communications X 100,000
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Amtran Inc. X 706,000
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Ameristar Casinos Inc X 7,500
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Anchor Gaming X 26,000
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Beringer Wine Estates Holdings X 50,100
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Beverly Enterprises X 500,000
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Bolle Inc. X 195,000
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Boyd Gaming Corp. X 41,700
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CKE Restraurants Inc X 131,200
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Carmike Cinemas Inc. X 179,900
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Casino Data Systems X 120,000
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Catalina Marketing Corp. X 150,000
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Championship Auto Racing Teams Inc X 178,200
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Cheap Tickets Inc X 105,000
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Churchill Downs Inc X 55,000
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Condor Technology Solutions X 1,300,000
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Cree Research Inc. X 152,000
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Crossman Communities Inc. X 101,000
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Customtracks Corporation X 94,000
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Dover Downs Entertainment X 650,200
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Echostar Communications X 140,000
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ELITE Information Group Inc Co X 1,220,300
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</TABLE>
<PAGE> 3
FORM 13F
<TABLE>
<CAPTION>
As of 9/30/99
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Item 5:
Item 1: Item 2: Item 3: Item 4: Shares of
Name of Issuer Title of Class CUSIP Fair Market Principal
Number Value Amount
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<S> <C> <C> <C> <C>
Employee Solutions Inc. Common 292166105 $67,830.00 70,000
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Fusion Medical Technologies Inc Common 361128101 $2,210,000.00 170,000
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Galileo International Inc. Common 363547100 $20,125,000.00 500,000
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General Motors Corp Class H Common 370442832 $29,483,750.00 515,000
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Genzyme Surgical Prods Division Common 372917609 $3,093,750.00 550,000
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Golden State Vintners Inc. Class B Common 38121K208 $985,625.00 207,500
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GTECH Holdings Corporation Common 400518106 $8,575,000.00 400,000
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Harrah's Entertainment Inc. Common 413619107 $11,330,325.00 408,300
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Healthcare Recoveries Inc. Common 42220K101 $2,949,375.00 1,072,500
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Hearst-Argyle Television Common 422317107 $5,912,500.00 275,000
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Hollywood Entertainment Corporation Common 436141105 $13,500,000.00 900,000
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Hollywood Park Inc New Common 436255103 $1,998,750.00 130,000
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Imagyn Medical Technologies Inc. Common 45244E100 $2,741.66 78,333
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Insituform Technologies Inc. Class A Common 457667103 $10,300,000.00 412,000
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International Game Technology Common 459902102 $4,105,800.00 228,100
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International Speedway Corp Class A Common 460335201 $367,937.50 7,000
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Jackpot Enterprises Inc Common 466392107 $636,125.00 72,700
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Lodgenet Entertainment Corp. Common 540211109 $6,500,000.00 500,000
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Learn2.com Inc Common 522002104 $94,453.13 32,500
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Liberty Digital Class A Common 530436104 $582,812.50 25,000
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Maxicare Health Plans, Inc. Common 577904204 $979,218.75 208,900
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MESA Air Group Inc Common 590479101 $3,185,679.88 520,111
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Mid Atlantic Medical Services, Inc. Common 59523C107 $17,314,618.75 1,937,300
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Midwest Express Holdings Inc Common 597911106 $6,544,256.25 249,900
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Morton Industrial Group Inc. Common 619328107 $977,625.00 237,000
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</TABLE>
<TABLE>
<CAPTION>
-----------------------------------
As of 9/30/99 Name of Reporting manager:(SEC USEIONLY)ANAGEMENT, INC. (SEC USE ONLY)
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Item 6:
Investment Discretion
------------------------------------ Item 8
(b) Shared- Item 7: Voting Authority (Shares)
Item 1: As Defined (c) Shared- Managers ---------------------------------------
Name of Issuer (a) Sole in Instr. V Other See Instr. V (a) Sole (b) Shared (c) None
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<S> <C> <C>
Employee Solutions Inc. X 70,000
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Fusion Medical Technologies Inc X 170,000
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Galileo International Inc. X 500,000
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General Motors Corp X 515,000
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Genzyme Surgical Prods Division X 550,000
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Golden State Vintners Inc. X 207,500
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GTECH Holdings Corporation X 400,000
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Harrah's Entertainment Inc. X 408,300
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Healthcare Recoveries Inc. X 1,072,500
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Hearst-Argyle Television X 275,000
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Hollywood Entertainment Corporation X 900,000
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Hollywood Park Inc New X 130,000
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Imagyn Medical Technologies Inc. X 78,333
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Insituform Technologies Inc. X 412,000
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International Game Technology X 228,100
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International Speedway Corp X 7,000
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Jackpot Enterprises Inc X 72,700
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Lodgenet Entertainment Corp. X 500,000
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Learn2.com Inc X 32,500
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Liberty Digital X 25,000
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Maxicare Health Plans, Inc. X 208,900
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MESA Air Group Inc X 520,111
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Mid Atlantic Medical Services, Inc. X 1,937,300
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Midwest Express Holdings Inc X 249,900
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Morton Industrial Group Inc. X 237,000
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</TABLE>
<PAGE> 4
FORM 13F
<TABLE>
<CAPTION>
As of 9/30/99
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Item 5:
Item 1: Item 2: Item 3: Item 4: Shares of
Name of Issuer Title of Class CUSIP Fair Market Principal
Number Value Amount
- -----------------------------------------------------------------------------------------------
<S> <C> <C> <C> <C>
Motivepower Industries Inc. Common 61980K101 $1,668,150.00 151,650
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Orthodontic Centers of America Inc. Common 68750P103 $2,615,625.00 150,000
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Pegasus Communications Corp. Class A Common 705904100 $42,868,750.00 950,000
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Penn National Gaming Inc. Common 707569109 $7,938,200.00 835,600
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Phoenix Healthcare Corp Common 719072100 $10,980.00 91,500
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Physician Computer Network Common 71940K109 $75,300.00 251,000
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Pixar Common 725811103 $10,439,056.25 277,450
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Players International Inc. Common 727903106 $8,805,290.63 1,188,900
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Priceline.com Inc Common 741503106 $5,869,500.00 91,000
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Rainforest Cafe Inc. Common 75086K104 $8,291,750.00 1,560,800
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Sabre Group Holdings, Inc. Common 785905100 $21,500,000.00 500,000
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Scientific Games Holdings Corp. Common 808747109 $14,705,850.00 744,600
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Station Casinos Inc. Common 857689103 $53,412,155.25 2,297,297
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Systemsoft Corp Common 871926101 $4,800.00 30,000
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TCI Satellite Entertainment Inc Class A Common 872298104 $3,108,000.00 777,000
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Top Source Technologies, Inc. Common 890530108 $446,906.25 340,500
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Travel Service International Inc Common 894169101 $15,208,750.00 1,322,500
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Universal Health Services Inc. Common 913903100 $25,875,000.00 1,000,000
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Univision Communications Class A Common 914906102 $13,426,875.00 165,000
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Total Long Equities $492,492,418.03
---------------
</TABLE>
<TABLE>
<CAPTION>
-----------------------------------
As of 9/30/99 Name of Reporting manager:(SEC USEIONLY)ANAGEMENT, INC. (SEC USE ONLY)
- ------------------------------------------------------------------------------------------------------------------------------
Item 6:
Investment Discretion
------------------------------------ Item 8
(b) Shared- Item 7: Voting Authority (Shares)
Item 1: As Defined (c) Shared- Managers ---------------------------------------
Name of Issuer (a) Sole in Instr. V Other See Instr. V (a) Sole (b) Shared (c) None
- ------------------------------------------------------------------------------------------------------------------------------
<S> <C> <C>
Motivepower Industries Inc. X 151,650
- ------------------------------------------------------------------------------------------------------------------------------
Orthodontic Centers of America Inc. X 150,000
- ------------------------------------------------------------------------------------------------------------------------------
Pegasus Communications Corp. X 950,000
- ------------------------------------------------------------------------------------------------------------------------------
Penn National Gaming Inc. X 835,600
- ------------------------------------------------------------------------------------------------------------------------------
Phoenix Healthcare Corp X 91,500
- ------------------------------------------------------------------------------------------------------------------------------
Physician Computer Network X 251,000
- ------------------------------------------------------------------------------------------------------------------------------
Pixar X 277,450
- ------------------------------------------------------------------------------------------------------------------------------
Players International Inc. X 1,188,900
- ------------------------------------------------------------------------------------------------------------------------------
Priceline.com Inc X 91,000
- ------------------------------------------------------------------------------------------------------------------------------
Rainforest Cafe Inc. X 1,560,800
- ------------------------------------------------------------------------------------------------------------------------------
Sabre Group Holdings, Inc. X 500,000
- ------------------------------------------------------------------------------------------------------------------------------
Scientific Games Holdings Corp. X 744,600
- ------------------------------------------------------------------------------------------------------------------------------
Station Casinos Inc. X 2,297,297
- ------------------------------------------------------------------------------------------------------------------------------
Systemsoft Corp X 30,000
- ------------------------------------------------------------------------------------------------------------------------------
TCI Satellite Entertainment Inc X 777,000
- ------------------------------------------------------------------------------------------------------------------------------
Top Source Technologies, Inc. X 340,500
- ------------------------------------------------------------------------------------------------------------------------------
Travel Service International Inc X 1,322,500
- ------------------------------------------------------------------------------------------------------------------------------
Universal Health Services Inc. X 1,000,000
- ------------------------------------------------------------------------------------------------------------------------------
Univision Communications X 165,000
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</TABLE>
