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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 March 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.:
- --------------------------------------- ---------------------------------------
1. 6.
- --------------------------------------- ---------------------------------------
2. 7.
- --------------------------------------- ---------------------------------------
3. 8.
- --------------------------------------- ---------------------------------------
4. 9.
- --------------------------------------- ---------------------------------------
5. 10.
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SEC 1685 (5/91)
<PAGE> 2
FORM 13F
SUMMARY PAGE
Report Summary:
Number of Other Included Managers: 0
---------------------------------------
Form 13F Information Table Entry Total:
---------------------------------------
Form 13F Information Table Value Total:
--------------------------------------
(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.
[If there are no entries in this list, state "NONE" and omit the column headings
and list entries.]
<TABLE>
<C> <S> <C>
No. Form 13F File Number Name
28-
- --------- -------------------- ----------------------------------------
[Repeat as necessary.]
</TABLE>
<PAGE> 3
Page 1 of 3
FORM 13F
(SEC USE ONLY)
As of March 31, 2000 Name of Reporting manager: PAR CAPITAL MANAGEMENT, INC.
<TABLE>
<CAPTION>
ITEM 1: ITEM 2: ITEM 3: ITEM 4: ITEM 5: ITEM 6: ITEM 7: ITEM 8
INVESTMENT DISCRETION VOTING AUTHORITY (SHARES)
TITLE FAIR SHARES OF (a) (b) (c) MANAGERS (a) (b) (c)
NAME OF ISSUER OF CUSIP MARKET PRINCIPAL SOLE SHARED- SHARED- SEE SOLE SHARED NON
CLASS NUMBER VALUE AMOUNT AS DEFINED OTHER INSTR. V
IN INSTR. V
<S> <C> <C> <C> <C> <C> <C> <C> <C> <C> <C> <C>
ACME
Electric
Corp. Common 004644100 $ 102,000.00 17,000 X 17,000
Adelphia
Communications
Corp Class A
Common 006848105 $ 4,410,000.00 90,000 X 90,000
Alaska Air
Group Inc. Common 011659109 $ 7,064,687.50 235,000 X 235,000
America West
Holding Corp Class B
Common 023657208 $10,850,000.00 700,000 X 700,000
Ameristar
Casinos Inc Common 03070Q101 $ 612,625.00 169,000 X 169,000
Ameritrade
Holding
Corp -
Class A Class A
Common 03072H109 $ 1,746,456.25 83,600 X 83,600
Ames
Department
Stores Common 030789507 $14,614,687.50 595,000 X 595,000
Amtran Inc. Common 03234G106 $10,031,450.00 561,200 X 561,200
Applebees
International
Inc Common 037899101 $ 1,420,312.50 50,500 X 50,500
Argosy
Gaming
Corp Common 040228108 $ 2,992,500.00 210,000 X 210,000
Biovail Corp
International
New Common 09067K106 $ 3,982,500.00 90,000 X 90,000
Boyd Gaming
Corp. Common 103304101 $ 205,893.75 41,700 X 41,700
CDNOW Inc Common 125086108 $ 2,268,750.00 600,000 X 600,000
CKE
Restraurants
Inc Common 12561E105 $ 2,409,112.50 377,900 X 377,900
Carmike
Cinemas
Inc. Class A
Common 143436103 $ 978,206.25 179,900 X 179,900
Casino
Data Systems Common 147583108 $ 615,000.00 120,000 X 120,000
Catalina
Marketing
Corp. Common 148867104 $15,187,500.00 150,000 X 150,000
Comcast
Corp-Special Class A
Common 200300200 $ 1,084,375.00 25,000 X 25,000
Condor
Technology
Solutions Common 206772105 $ 362,175.00 482,900 X 482,900
Crossman
Communities
Inc. Common 22764E109 $ 5,936,653.13 374,700 X 374,700
Cumulus
Media Inc Class A
Common 231082108 $ 1,653,125.00 115,000 X 115,000
Dover Downs
Entertainment Common 260086103 $ 7,776,225.00 609,900 X 609,900
Edgar Online
Inc Common 279765101 $ 2,193,750.00 225,000 X 225,000
Echostar
Communications Class A
Common 278762109 $44,240,000.00 560,000 X 560,000
ELITE
Information
Group Inc Co Common 28659M106 $11,364,043.75 1,220,300 X 1,220,300
Employee
Solutions
Inc. Common 292166105 $ 43,750.00 70,000 X 70,000
ETOYS Inc Common 297862104 $ 3,109,462.50 351,600 X 351,600
</TABLE>
<PAGE> 4
Page 2 of 3
FORM 13F
(SEC USE ONLY)
As of March 31, 2000 Name of Reporting manager: PAR CAPITAL MANAGEMENT, INC.
<TABLE>
<CAPTION>
ITEM 1: ITEM 2: ITEM 3: ITEM 4: ITEM 5: ITEM 6: ITEM 7: ITEM 8
SHARES OF INVESTMENT DISCRETION VOTING AUTHORITY (SHARES)
NAME OF ISSUER TITLE OF CUSIP FAIR MARKET PRINCIPAL (a) (b) SHARED- (c) SHARED- MANAGERS (a) SOLE (b) SHARED (c) NONE
CLASS NUMBER VALUE AMOUNT SOLE AS DEFINED OTHER SEE
IN INSTR. V INSTR. V
<S> <C> <C> <C> <C> <C> <C> <C> <C> <C> <C> <C>
Expedia Inc. Class A
Common 302125109 $ 212,500.00 10,000 X 10,000
4 Kids
Entertainment
Inc Common 350865101 $ 354,375.00 15,000 X 15,000
Galileo
International
Inc. Common 363547100 $ 6,496,875.00 270,000 X 270,000
General
Motors
Corp Class H
Common 370442832 $ 64,117,500.00 515,000 X 515,000
Getthere.com
Inc Common 274266104 $ 807,187.50 52,500 X 52,500
Global
Technovations
Inc Common 37939M109 $ 532,031.25 340,500 X 340,500
Golden
State
Vintners Inc. Class B
Common 38121K208 $ 1,125,000.00 250,000 X 250,000
GTECH
Holdings
Corporation Common 400518106 $ 8,124,806.25 437,700 X 437,700
Harrahs
Entertainment
Inc Common 413619107 $ 3,248,437.50 175,000 X 175,000
Healthcare
Recoveries
Inc. Common 42220K101 $ 3,528,850.00 1,085,800 X 1,085,800
Hilton
Hotels
Corp Common 432848109 $ 2,790,000.00 360,000 X 360,000
Hollywood
Casino
Corp Class A
Common 436132203 $ 2,317,100.00 639,200 X 639,200
Hollywood
Entertainment
Corporation Common 436141105 $ 3,789,375.00 470,000 X 470,000
Host Marriott
Corp New REIT Common 44107P104 $ 1,775,000.00 200,000 X 200,000
Imagyn Medical
Technologies
Inc. Common 45244E100 $ 1,958.33 78,333 X 78,333
International
Speedway Corp Class A
Common 460335201 $ 314,562.50 7,000 X 7,000
Lodgenet
Entertainment
Corp. Common 540211109 $ 10,031,250.00 500,000 X 500,000
Learn2.com Inc Common 522002104 $ 134,062.50 32,500 X 32,500
Mesaba
Holdings Inc Common 59066B102 $ 10,934,250.00 956,000 X 956,000
Mid Atlantic
Medical
Services, Inc. Common 59523C107 $ 20,310,225.00 2,195,700 X 2,195,700
Morton
Industrial
Group Inc. Common 619328107 $ 1,236,843.75 237,000 X 237,000
Navigant
International
Inc Common 63935R108 $ 321,100.00 33,800 X 33,800
OpenTV Corp Class A
Common G6754310 $ 828,625.00 7,000 X 7,000
Pacific
Health
Systems Common 695112102 $ 2,239,387.50 44,900 X 44,900
Pegasus
Communications
Corp. Class A
Common 705904100 $126,675,000.00 900,000 X 900,000
Penn National
Gaming Inc. Common 707569109 $ 14,261,111.11 1,283,700 X 1,283,700
Phoenix
Healthcare Corp Common 719072100 $ 64,050.00 91,500 X 91,500
</TABLE>
<PAGE> 5
Page 3 of 3
FORM 13F
(SEC USE ONLY)
As of March 31, 2000 Name of Reporting manager: PAR CAPITAL MANAGEMENT, INC.
<TABLE>
<CAPTION>
ITEM 1: ITEM 2: ITEM 3: ITEM 4: ITEM 5: ITEM 6: ITEM 7: ITEM 8
SHARES OF INVESTMENT VOTING AUTHORITY (SHARES)
NAME OF ISSUER TITLE CUSIP FAIR MARKET PRINCIPAL (a) DISCRETION MANAGERS (a) (b) (c)
OF CLASS NUMBER VALUE AMOUNT SOLE (b) (c) SHARED- SEE SOLE SHARED NONE
SHARED- OTHER INSTR.
AS DEFINED V
IN INSTR. V
<S> <C> <C> <C> <C> <C> <C> <C> <C> <C> <C> <C>
Physician
Computer Network Common 71940K109 $ 12,550.00 251,000 X 251,000
Pixar Common 725811103 $ 9,637,409.38 270,050 X 270,050
Pinnacle
Entertainment Inc. Common 723456109 $ 22,778,437.50 1,121,400 X 1,121,400
Priceline.com Inc Common 741503106 $ 560,000.00 7,000 X 7,000
Puradyn Filter
Technologies Inc Common 746091107 $ 1,125,000.00 100,000 X 100,000
Radio Unica
Communications Corp Common 75040Q106 $ 265,781.25 22,500 X 22,500
Rainforest Cafe Inc. Common 75086K104 $ 1,645,040.63 463,800 X 463,800
Sabre Group
Holdings, Inc. Common 785905100 $ 19,016,500.00 521,000 X 521,000
Spanish Broadcasting
System Inc. Class A
Common 846425882 $ 586,328.13 25,000 X 25,000
Station Casinos Inc. Common 857689103 $ 47,152,081.25 2,161,700 X 2,161,700
Sunrise
Technologies Inc Common 86769L103 $ 2,495,298.44 354,100 X 354,100
Systemsoft Corp Common 871926101 $ 3,900.00 30,000 X 30,000
THQ Inc. Common 872443403 $ 16,784,625.00 939,000 X 939,000
Travelocity.com Inc. Common 893953109 $ 5,875,000.00 200,000 X 200,000
Universal Health
Services Inc. Common 913903100 $ 32,585,000.00 665,000 X 665,000
Univision
Communications Class A
Common 914906102 $ 16,385,000.00 145,000 X 145,000
Valence
Technology Inc Common 918914102 $ 1,178,125.00 50,000 X 50,000
Westinghouse
Air Brake Co. Common 929740108 $ 956,250.00 90,000 X 90,000
Young
Broadcasting Inc Class A
Common 987434107 $ 4,180,000.00 220,000 X 220,000
Total Long Equities $627,049,030.37
</TABLE>
