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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 June 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.
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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 11th day
of August, 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
As of 6/30/99
NAME OF REPORTING MANAGER: PAR CAPITAL MANAGEMENT, INC.
<TABLE>
<CAPTION>
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Item 1: Item 2: Item 3: Item 4: Item 5: Item 6:
Shares of Investment Discretion
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Name of Issuer Title of Class CUSIP Fair Market Principal (a) Sole (b) Shared- (c) Shared-
Number Value Amount As Defined Other
in Instr. V
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<S> <C> <C> <C> <C> <C> <C> <C>
7th Level Inc. Common 817916109 $148,281.25 32,500 X
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ACME Electric Corp. Common 004644100 $92,437.50 17,000 X
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Alaska Air Group Inc. Common 011659109 $9,393,750.00 225,000 X
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AMC Entertainment Inc. Common 001669100 $9,143,750.00 475,000 X
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Amtran Inc. Common 03234G106 $16,252,500.00 660,000 X
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Beringer Wine Estates Holdings Common 084102102 $2,093,240.63 50,100 X
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Bolle Inc. Common 097937106 $536,250.00 195,000 X
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Boyd Gaming Corp. Common 103304101 $291,900.00 41,700 X
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Broadway & Seymour Inc. Common 111433108 $476,531.25 29,900 X
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Casino Data Systems Common 147583108 $607,500.00 120,000 X
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Catalina Marketing Corp. Common 148867104 $13,800,000.00 150,000 X
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Championship Auto Racing Teams Inc Common 158711101 $5,319,893.75 177,700 X
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Comair Holdings Inc Common 199789108 $2,230,059.38 107,150 X
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Condor Technology Solutions Common 206772105 $4,125,000.00 880,000 X
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Cree Research Inc. Common 225447101 $5,847,250.00 76,000 X
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Crossman Communities Inc. Common 22764E109 $2,935,312.50 101,000 X
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Dover Downs Entertainment Common 260086103 $9,160,356.25 517,900 X
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Echostar Communications Class A Common 278762109 $10,740,625.00 70,000 X
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ELITE Information Group Inc Co Common 28659M106 $6,559,112.50 1,220,300 X
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Employee Solutions Inc. Common 292166105 $83,125.00 70,000 X
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Fusion Medical Technologies Inc Common 361128101 $1,285,625.00 170,000 X
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Galileo International Inc. Common 363547100 $32,062,500.00 600,000 X
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Golden State Vintners Inc. Class B Common 38121K208 $1,270,937.50 207,500 X
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GTECH Holdings Corporation Common 400518106 $9,425,000.00 400,000 X
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Harrah's Entertainment Inc. Common 413619107 $9,921,506.25 449,700 X
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Healthcare Recoveries Inc. Common 42220K101 $2,094,750.00 441,000 X
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Hearst-Argyle Television Common 422317107 $6,600,000.00 275,000 X
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Hollywood Entertainment Corporation Common 436141105 $15,356,562.50 785,000 X
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Imagyn Medical Technologies Inc. Common 45244E100 $2,741.66 78,333 X
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Insituform Technologies Inc. Class A Common 457667103 $8,909,500.00 412,000 X
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Jackpot Enterprises Inc Common 466392107 $833,000.00 98,000 X
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Lodgenet Entertainment Corp. Common 540211109 $6,968,750.00 500,000 X
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Maxicare Health Plans, Inc. Common 577904204 $640,775.00 134,900 X
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MESA Air Group Inc Common 590479101 $3,908,962.00 520,111 X
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Mid Atlantic Medical Services, Inc. Common 59523C107 $16,263,137.50 1,646,900 X
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Midway Airlines Corp Common 598126100 $430,500.00 42,000 X
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Midway Games Inc. Common 598148104 $371,888.44 28,745 X
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Morton Industrial Group Inc. Common 619328107 $1,673,812.50 237,000 X
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Motivepower Industries Inc. Common 61980K101 $2,787,025.00 150,650 X
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Orthodontic Centers of America Inc. Common 68750P103 $2,118,750.00 150,000 X
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Pegasus Communications Corp. Class A Common 705904100 $36,952,937.50 937,000 X
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Penn National Gaming Inc. Common 707569109 $5,439,925.00 588,100 X
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Physicians Specialty Corp Common 718934102 $95,625.00 10,000 X
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Phoenix Healthcare Corp Common 719072100 $14,640.00 91,500 X
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Physician Computer Network Common 71940K109 $62,750.00 251,000 X
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Pixar Common 725811103 $9,722,531.25 225,450 X
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Players International Inc. Common 727903106 $12,210,843.75 1,698,900 X
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Powerhouse Technologies Inc. Common 739323103 $18,351,243.75 942,600 X
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Preview Travel Inc Common 74137R101 $658,125.00 30,000 X
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Priceline.com Inc Common 741503106 $9,360,562.50 81,000 X
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Rainforest Cafe Inc. Common 75086K104 $7,081,931.25 1,398,900 X
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Sabre Group Holdings, Inc. Common 785905100 $34,375,000.00 500,000 X
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Scientific Games Holdings Corp. Common 808747109 $13,544,700.00 694,600 X
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Sodak Gaming, Inc. Common 833777105 $7,977,187.50 850,900 X
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Station Casinos Inc. Common 857689103 $46,807,426.38 2,297,297 X
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Systemsoft Corp Common 871926101 $6,600.00 60,000 X
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TCI Satellite Entertainment Inc Class A Common 872298104 $2,282,437.50 777,000 X
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Top Source Technologies, Inc. Common 890530108 $361,781.25 340,500 X
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Travel Service International Inc Common 894169101 $13,020,000.00 1,085,000 X
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United States Satellite Broadcasting Class A Common 912534104 $36,865,000.00 2,020,000 X
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Universal Health Services Inc. Common 913903100 $9,693,250.00 203,000 X
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Univision Communications Class A Common 914906102 $10,725,000.00 165,000 X
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Total Long Equities $498,372,095.97
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498,658,766.00
</TABLE>
<TABLE>
<CAPTION>
Item 7: Item 8
Voting Authority (Shares)
-----------------------------------
Managers (a) Sole (b) Shared (c) None
See Instr. V
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<S> <C> <C> <C> <C>
7th Level Inc. 32,500
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ACME Electric Corp. 17,000
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Alaska Air Group Inc. 225,000
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AMC Entertainment Inc. 475,000
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Amtran Inc. 660,000
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Beringer Wine Estates Holdings 50,100
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Bolle Inc. 195,000
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Boyd Gaming Corp. 41,700
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Broadway & Seymour Inc. 29,900
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Casino Data Systems 120,000
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Catalina Marketing Corp. 150,000
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Championship Auto Racing Teams Inc 177,700
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Comair Holdings Inc 107,150
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Condor Technology Solutions 880,000
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Cree Research Inc. 76,000
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Crossman Communities Inc. 101,000
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Dover Downs Entertainment 517,900
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Echostar Communications 70,000
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ELITE Information Group Inc Co 1,220,300
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Employee Solutions Inc. 70,000
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Fusion Medical Technologies Inc 170,000
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Galileo International Inc. 600,000
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Golden State Vintners Inc. 207,500
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GTECH Holdings Corporation 400,000
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Harrah's Entertainment Inc. 449,700
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Healthcare Recoveries Inc. 441,000
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Hearst-Argyle Television 275,000
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Hollywood Entertainment Corporation 785,000
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Imagyn Medical Technologies Inc. 78,333
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Insituform Technologies Inc. 412,000
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Jackpot Enterprises Inc 98,000
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Lodgenet Entertainment Corp. 500,000
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Maxicare Health Plans, Inc. 134,900
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MESA Air Group Inc 520,111
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Mid Atlantic Medical Services, Inc. 1,646,900
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Midway Airlines Corp 42,000
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Midway Games Inc. 28,745
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Morton Industrial Group Inc. 237,000
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Motivepower Industries Inc. 150,650
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Orthodontic Centers of America Inc. 150,000
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Pegasus Communications Corp. 937,000
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Penn National Gaming Inc. 588,100
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Physicians Specialty Corp 10,000
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Phoenix Healthcare Corp 91,500
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Physician Computer Network 251,000
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Pixar 225,450
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Players International Inc. 1,698,900
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Powerhouse Technologies Inc. 942,600
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Preview Travel Inc 30,000
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Priceline.com Inc 81,000
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Rainforest Cafe Inc. 1,398,900
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Sabre Group Holdings, Inc. 500,000
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Scientific Games Holdings Corp. 694,600
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Sodak Gaming, Inc. 850,900
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Station Casinos Inc. 1,297,297
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Systemsoft Corp 60,000
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TCI Satellite Entertainment Inc 777,000
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Top Source Technologies, Inc. 340,500
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Travel Service International Inc 1,085,000
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United States Satellite Broadcasting 2,020,000
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Universal Health Services Inc. 203,000
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Univision Communications 165,000
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</TABLE>
