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UNITED STATES SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
Form 13F COVER PAGE
Report for the Calendar Year or Quarter Ended: Septmeber 30, 1999
Check here if Amendment [ ]; Amendment Number:______________________
This Amendment (Check only one.):
[ ] is a restatement.
[ ] adds new holdings entries.
Institutional Investment Manager Filing this Report:
Name: Para Advisors, Inc. (a)
Address: 505 Park Avenue
New York, NY 10022
Form 13F File Number: 28-7296
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: Mr. Ned Sadaka
Title: President
Phone: 212-355-6688
Signature, Place, and Date of Signing:
/S/ NED SADAKA
_____________________________________
[Signature]
New York, New York
_____________________________________
[City, State]
November 5, 1999
_____________________________________
[Date]
(a) Mr. Ned Sadaka is a shareholder of Para Advisors, Inc. ("Para Advisors") and
also serves as a managing member of the general partner of certain accounts over
which Para Advisors has investment discretion.
Report Type (Check only one.):
[X] 13F HOLDINGS REPORT. (Check here if all holdings of this reporting
manager are reported in this report.)
[ ] 13F NOTICE. (Check here if no holdings reported are in this report, and
all holdings are reported by other reporting manager(s).)
[ ] 13F COMBINATION REPORT. (Check here if a portion of the holdings for
this reporting manager are reported in this report and a portion are
reported by other reporting manager(s).)
<PAGE>
Form 13F Summary Page
Report Summary:
Number of Other Included Managers:
0
Form 13F Information Table Entry Total:
68
Form 13F Information Table Value Total:
$ 429,674 (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
<PAGE>
FORM 13F INFORMATION TABLE
<TABLE>
<CAPTION>
Value Put/ Investment Other Voting
Authority
Name of Issuer Title of CUSIP (x$1000) Shrs or SH/PRN Call Discretion Managers Sole Shared None
- -------------- -------- ----- -------- -------- ------ ---- ---------- -------- ---- ------ ----
Class prn amt
----- -------
<S> <C> <C> <C> <C> <C> <C> <C>
ALZA CORP COM 022615108 4,245 99,153 SH SOLE 99,153
AMERITECH COM 030954101 590 8,778 SH SOLE 8,778
APPONLINE.COM COM 44969E106 322 119,822 SH SOLE 119,822
APPONLINE.COM RESTRICTED COM 44969E106 162 100,000 SH SOLE 100,000
ASARCO INC COM 043413103 669 24,938 SH SOLE 24,938
AZURIX CORPORATION COM 05501M104 5,781 336,340 SH SOLE 336,340
BELL ATLANTIC CORP COM 077853109 9,065 134,664 SH SOLE 134,664
BIG FLOWER HOLDINGS COM 089159107 4,478 158,159 SH SOLE 158,159
BORDERS GROUP INC COM 099709107 1,465 99,751 SH SOLE 99,751
CABLEVISION SYSTEMS COM 12686C109 3,628 49,876 SH SOLE 49,876
CBS CORPORATION COM 12490K107 3,460 74,813 SH SOLE 74,813
CENTOCOR INC COM 152342101 10,515 179,555 SH SOLE 179,555
CITIGROUP INC COM 172967101 2,853 64,839 SH SOLE 64,839
CNA FINANCIAL CORP COM 126117100 1,895 54,154 SH SOLE 54,154
COLUMBUS MCKINNON CORP COM 199333105 1,519 88,076 SH SOLE 88,076
COMSAT CORP SER 1 COM 20564d107 2,535 86,284 SH SOLE 86,284
DATA GENERAL CORP COM 237688106 6,311 299,652 SH SOLE 299,652
DELTA AIR LINES INC COM 247361108 5,805 119,701 SH SOLE 119,701
DYNATECH CORP NEW COM 268140100 420 83,927 SH SOLE 83,927
ENRON CORP COM 293561106 4,732 114,714 SH SOLE 114,714
GENERAL DYNAMICS CORP COM 369550108 6,845 109,634 SH SOLE 109,634
GENERAL INSTR CORP DEL COM COM 370120107 8,521 177,058 SH SOLE 177,058
GLOBAL CROSSING LTD COM G3921A100 8,131 306,831 SH SOLE 306,831
GLOBAL LIGHT TELECOM. COM 362284101 5,156 506,106 SH SOLE 506,106
GRAND UNION COMPANY COM 386532402 3,951 289,289 SH SOLE 289,289
HAMBRECHT & QUIST GROUP COM 406545103 3,661 74,813 SH SOLE 74,813
HIGHPOINT TELECOMMUNICATIONS COM 430904102 198 36,892 SH SOLE 36,892
HONEYWELL INC COM 438506107 2,301 20,672 SH SOLE 20,672
INTERNATIONAL NETWORK SERVICES COM 460053101 5,043 92,754 SH SOLE 92,754
JONES INTERCABLE INC COM 480206200 1,079 19,950 SH SOLE 19,950
LEAR CORPORATION COM 521865105 2,966 84,290 SH SOLE 84,290
LIFEPOINT HOSPITALS INC COM 53219L109 1,805 207,794 SH SOLE 207,794
LIMITED INC COM 532716107 11,072 289,451 SH SOLE 289,451
LORAL SPACE & COMMUNICATIONS COM G56462107 3,807 221,517 SH SOLE 221,517
MACMILLAN BLOEDEL LTD COM 554783209 2,338 149,625 SH SOLE 149,625
MEDIAONE GROUP INC COM 58440J104 13,820 202,308 SH SOLE 202,308
MINDSPRING ENTERPRISES INC COM 602683104 2,071 74,814 SH SOLE 74,814
NEWS CORP LTD COM 652487802 4,223 158,248 SH SOLE 158,248
NOKIA CORP COM 654902204 4,032 44,888 SH SOLE 44,888
NORTHWEST AIRLINES CORP COM 667280101 4,820 189,029 SH SOLE 189,029
OMNIPOINT CORP COM 68212D102 5,072 90,774 SH SOLE 90,774
ONLINE GAMING SYSTEM LTD COM 68273A104 130 54,862 SH SOLE 54,862
OUTDOOR SYSTEMS INC COM 690057104 1,508 42,195 SH SOLE 42,195
PAINE WEBBER GROUP COM 695629105 9,550 263,455 SH SOLE 263,455
PARK PLACE ENTERTAINMENT CORP COM 700690100 3,358 268,632 SH SOLE 268,632
PITNEY BOWES INC COM 724479100 7,233 118,703 SH SOLE 118,703
PREMARK INTERNATIONAL INC COM 740459102 8,312 164,588 SH SOLE 164,588
REPUBLIC NEW YORK COM 760719104 5,260 85,608 SH SOLE 85,608
REYNOLDS METALS CO COM 761763101 5,721 94,763 SH SOLE 94,763
SFX ENTERTAINMENT COM 784178105 458 14,963 SH SOLE 14,963
SKYTEL COMMUNICATIONS INC COM 83087Q104 458 25,000 SH SOLE 25,000
SOLUTIA INC COM 834376105 2,396 134,060 SH SOLE 134,060
SPRINT CORP COM 852061100 6,764 124,688 SH SOLE 124,688
TIME WARNER INC COM 887315109 9,441 155,413 SH SOLE 155,413
TRIAD HOSPITALS INC COM 89579K109 1,858 183,478 SH SOLE 183,478
UNION CARBIDE CORP COM COM 905581104 9,351 164,590 SH SOLE 164,590
US WEST INC COM 91273H101 7,189 125,980 SH SOLE 125,980
UST CORP COM 902900109 1,650 53,662 SH SOLE 53,662
WORKFLOW MANAGEMENT INC COM 98137N109 4,463 343,344 SH SOLE 343,344
WORLD COLOR PRESS INC COM 960912103 6,503 174,564 SH SOLE 174,564
AMERICAN INTL GROUP INC COM 026874107 9,418 108,328 SH SOLE 108,328
AMERICAN TEL & TEL COM 001957109 17,254 396,654 SH SOLE 396,654
BERKSHIRE HATHAWAY INC COM 084670108 12,540 228 SH SOLE 228
BP AMOCO PLC COM 055622104 12,881 116,244 SH SOLE 116,244
LUCENT TECHNOLOGIES INC COM 549463107 29,154 449,381 SH SOLE 449,381
MCI WORLDCOM INC COM 55268B106 11,392 158,500 SH SOLE 158,500
TYCO INTERNATIONAL COM 902124106 24,654 238,784 SH SOLE 238,784
VODAFONE AIRTOUCH PLC ADR COM 92857T107 49,416 207,848 SH SOLE 207,848
</TABLE>
