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SEC USE ONLY
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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 December 31, 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 10th day
of February, 2000.
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 12/31/99
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ITEM 1: ITEM 2: ITEM 3: ITEM 4: ITEM 5:
NAME OF ISSUER TITLE OF CLASS CUSIP FAIR MARKET SHARES OF
NUMBER VALUE PRINCIPAL
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 $7,903,125.00 225,000
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AMC Entertainment Inc. Common 001669100 $1,940,625.00 225,000
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Ameristar Casinos Inc Common 03070Q101 $276,406.25 72,500
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Ameritrade Holding Corp - Class A Class A Common 03072H109 $2,680,575.00 123,600
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Amtran Inc. Common 03234G106 $14,240,625.00 735,000
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Biomatrix Inc Common 09060P102 $644,875.00 33,500
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Biovail Corp International New Common 09067K106 $7,378,125.00 78,700
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Bolle Inc. Common 097937106 $987,187.50 195,000
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Boyd Gaming Corp. Common 103304101 $242,381.25 41,700
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CKE Restaurants Inc Common 12561E105 $2,220,162.50 377,900
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Carmike Cinemas Inc. Class A Common 143436103 $1,405,468.75 179,900
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Casino Data Systems Common 147583108 $480,000.00 120,000
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Catalina Marketing Corp. Common 148867104 $17,362,500.00 150,000
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Condor Technology Solutions Common 206772105 $1,719,987.50 1,250,900
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Crossman Communities Inc. Common 22764E109 $4,045,500.00 261,000
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Dover Downs Entertainment Common 260086103 $11,435,625.00 609,900
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Edgar Online Inc Common 279765101 $1,475,000.00 200,000
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Echostar Communications Class A Common 278762109 $27,300,000.00 280,000
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ELITE Information Group Inc Co Common 28659M106 $13,041,956.25 1,220,300
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Employee Solutions Inc. Common 292166105 $48,125.00 70,000
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ETOYS Inc Common 297862104 $6,436,500.00 245,200
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Galileo International Inc. Common 363547100 $8,083,125.00 270,000
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General Motors Corp Class H Common 370442832 $49,440,000.00 515,000
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Getthere.com Inc Common 274266104 $1,006,250.00 25,000
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</TABLE>
FORM 13F
<TABLE>
<CAPTION>
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(SEC USE ONLY)
AS OF 12/31/99 NAME OF REPORTING MANAGER: PAR CAPITAL MANAGEMENT, INC.
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ITEM 1: ITEM 6: ITEM 7: ITEM 8
NAME OF ISSUER INVESTMENT DISCRETION MANAGERS VOTING AUTHORITY (SHARES)
----------------------------------- SEE INSTR. V ------------------------------------
(a) SOLE (b) SHARED- (c) SHARED- (a) SOLE (b) SHARED (c) NONE
AS DEFINED OTHER
IN INSTR. V
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<S> <C> <C> <C> <C> <C> <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 225,000
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Ameristar Casinos Inc X 72,500
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Ameritrade Holding Corp - Class A X 123,600
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Amtran Inc. X 735,000
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Biomatrix Inc X 33,500
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Biovail Corp International New X 78,700
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Bolle Inc. X 195,000
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Boyd Gaming Corp. X 41,700
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CKE Restaurants Inc X 377,900
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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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Condor Technology Solutions X 1,250,900
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Crossman Communities Inc. X 261,000
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Dover Downs Entertainment X 609,900
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Edgar Online Inc X 200,000
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Echostar Communications X 280,000
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ELITE Information Group Inc Co X 1,220,300
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Employee Solutions Inc. X 70,000
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ETOYS Inc X 245,200
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Galileo International Inc. X 270,000
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General Motors Corp X 515,000
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Getthere.com Inc X 25,000
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</TABLE>
<PAGE> 3
FORM 13F
<TABLE>
<CAPTION>
AS OF 12/31/99
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ITEM 1: ITEM 2: ITEM 3: ITEM 4: ITEM 5:
NAME OF ISSUER TITLE OF CLASS CUSIP FAIR MARKET SHARES OF
NUMBER VALUE PRINCIPAL
AMOUNT
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<S> <C> <C> <C> <C>
Global Technovations Inc Common 37939M109 $297,937.50 340,500
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Golden State Vintners Inc. Class B Common 38121K208 $1,312,500.00 250,000
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GTECH Holdings Corporation Common 400518106 $602,800.00 27,400
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Healthcare Recoveries Inc. Common 42220K101 $3,936,025.00 1,085,800
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Hollywood Casino Corp Class A Common 436132203 $571,837.50 132,600
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Hollywood Entertainment Corporation Common 436141105 $8,192,500.00 565,000
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Host Marriott Corp New REIT Common 44107P104 $1,650,000.00 200,000
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Imagyn Medical Technologies Inc. Common 45244E100 $1,958.33 78,333
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International Speedway Corp Class A Common 460335201 $352,625.00 7,000
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Lodgenet Entertainment Corp. Common 540211109 $12,437,500.00 500,000
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Learn2.com Inc Common 522002104 $106,640.63 32,500
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Maxicare Health Plans, Inc. Common 577904204 $543,950.00 189,200
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Mesaba Holdings Inc Common 59066B102 $1,029,375.00 90,000
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Mid Atlantic Medical Services, Inc. Common 59523C107 $21,491,968.75 2,585,500
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Morton Industrial Group Inc. Common 619328107 $829,500.00 237,000
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Navigant International Inc Common 63935R108 $395,037.50 33,800
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Pegasus Communications Corp. Class A Common 705904100 $92,862,500.00 950,000
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Penn National Gaming Inc. Common 707569109 $9,808,200.00 1,089,800
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Phoenix Healthcare Corp Common 719072100 $9,150.00 91,500
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Physician Computer Network Common 71940K109 $12,550.00 251,000
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Pixar Common 725811103 $9,553,018.75 270,050
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Players International Inc. Common 727903106 $1,223,771.88 148,900
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Preview Travel Inc Common 74137R101 $10,425,000.00 200,000
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Priceline.com Inc Common 741503106 $3,126,750.00 66,000
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Rainforest Cafe Inc. Common 75086K104 $3,723,481.25 938,200
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</TABLE>
<TABLE>
<CAPTION>
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(SEC USE ONLY)
AS OF 12/31/99 NAME OF REPORTING MANAGER: PAR CAPITAL MANAGEMENT, INC.
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ITEM 1: ITEM 6: ITEM 7: ITEM 8
NAME OF ISSUER INVESTMENT DISCRETION MANAGERS VOTING AUTHORITY (SHARES)
----------------------------------- SEE INSTR. V ------------------------------------
(a) SOLE (b) SHARED- (c) SHARED- (a) SOLE (b) SHARED (c) NONE
AS DEFINED OTHER
IN INSTR. V
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<S> <C> <C> <C> <C> <C> <C> <C>
Global Technovations Inc X 340,500
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Golden State Vintners Inc. X 250,000
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GTECH Holdings Corporation X 27,400
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Healthcare Recoveries Inc. X 1,085,800
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Hollywood Casino Corp X 132,600
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Hollywood Entertainment Corporation X 565,000
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Host Marriott Corp New REIT X 200,000
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Imagyn Medical Technologies Inc. X 78,333
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International Speedway Corp X 7,000
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Lodgenet Entertainment Corp. X 500,000
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Learn2.com Inc X 32,500
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Maxicare Health Plans, Inc. X 189,200
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Mesaba Holdings Inc X 90,000
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Mid Atlantic Medical Services, Inc. X 2,585,500
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Morton Industrial Group Inc. X 237,000
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Navigant International Inc X 33,800
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Pegasus Communications Corp. X 950,000
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Penn National Gaming Inc. X 1,089,800
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Phoenix Healthcare Corp X 91,500
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Physician Computer Network X 251,000
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Pixar X 270,050
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Players International Inc. X 148,900
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Preview Travel Inc X 200,000
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Priceline.com Inc X 66,000
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Rainforest Cafe Inc. X 938,200
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</TABLE>
<PAGE> 4
FORM 13F
<TABLE>
<CAPTION>
AS OF 12/31/99
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ITEM 1: ITEM 2: ITEM 3: ITEM 4: ITEM 5:
NAME OF ISSUER TITLE OF CLASS CUSIP FAIR MARKET SHARES OF
NUMBER VALUE PRINCIPAL
AMOUNT
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<S> <C> <C> <C> <C>
Sabre Group Holdings, Inc. Common 785905100 $25,625,000.00 500,000
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Station Casinos Inc. Common 857689103 $50,224,100.00 2,238,400
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Systemsoft Corp Common 871926101 $2,250.00 30,000
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Travel Service International Inc Common 894169101 $12,729,375.00 1,395,000
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Universal Health Services Inc. Common 913903100 $23,940,000.00 665,000
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Univision Communications Class A Common 914906102 $16,860,937.50 165,000
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Total Long Equities $495,770,114.58
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</TABLE>
<TABLE>
<CAPTION>
-------------------
(SEC USE ONLY)
AS OF 12/31/99 NAME OF REPORTING MANAGER: PAR CAPITAL MANAGEMENT, INC.
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ITEM 1: ITEM 6: ITEM 7: ITEM 8
NAME OF ISSUER INVESTMENT DISCRETION MANAGERS VOTING AUTHORITY (SHARES)
----------------------------------- SEE INSTR. V ------------------------------------
(a) SOLE (b) SHARED- (c) SHARED- (a) SOLE (b) SHARED (c) NONE
AS DEFINED OTHER
IN INSTR. V
- ---------------------------------------------------------------------------------------------------------------------------------
<S> <C> <C> <C> <C> <C> <C> <C>
Sabre Group Holdings, Inc. X 500,000
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Station Casinos Inc. X 2,238,400
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Systemsoft Corp X 30,000
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Travel Service International Inc X 1,395,000
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Universal Health Services Inc. X 665,000
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Univision Communications X 165,000
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</TABLE>
