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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: June 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]
August 16, 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:
$508,213 (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>
AIRTOUCH COMMUNICATIONS INC COM 00949T100 6,434 59,850 SH SOLE 59,850
AMERICAN INTL GROUP ONC COM 026874107 18,998 162,287 SH SOLE 162,287
AMERICAN TEL & TEL COM 001957109 22,151 396,886 SH SOLE 396,886
AMR CORP DEL COM 001765106 9,538 139,752 SH SOLE 139,752
APPONLINE.COM COM 44969E106 481 192,500 SH SOLE 192,500
APPONLINE.COM RESTRICTED COM 44969E106 162 100,000 SH SOLE 100,000
AT&T CORP/LIBERTY MEDIA GRP A COM 87924V507 1,608 43,758 SH SOLE 43,758
AZURIX CORPORATION COM 05501M104 2,494 124,689 SH SOLE 124,689
BERKSHIRE HATHAWAY INC COM 84670108 16,398 238 SH SOLE 238
BIG FLOWER HOLDINGS COM 089159107 8,308 260,653 SH SOLE 260,653
BP AMOCO PLC COM 055622104 14,723 135,700 SH SOLE 135,700
BROWNING FERRIS INDS INC COM 115885105 1,287 29,925 SH SOLE 29,925
CABLEVISION SYSTEMS COM 12686C109 9,056 129,372 SH SOLE 129,372
CELLULAR COMM OF PUERTO RICO COM 15116N108 2,701 94,763 SH SOLE 94,763
CLAIRES STORES INC COM 179584107 3,676 143,463 SH SOLE 143,463
CNA FINANCIAL CORP COM 126117100 2,011 49,876 SH SOLE 49,876
COACH USA INC COM 18975L106 837 19,950 SH SOLE 19,950
COLUMBUS MCKINNON CORP COM 199333105 2,442 101,746 SH SOLE 101,746
COMMONWEALTH TELE ENTR COM 203349105 2,304 56,986 SH SOLE 56,986
DAIMLERCHRYSLER A.G. COM D1668R123 16,698 187,883 SH SOLE 187,883
DELTA AIR LINES INC COM 247361108 9,197 159,602 SH SOLE 159,602
DYNATECH CORP NEW COM 268140100 288 83,927 SH SOLE 83,927
ENRON CORP COM 293561106 6,116 74,813 SH SOLE 74,813
GALILEO INTL INC COM 363547100 17,591 329,179 SH SOLE 329,179
GLOBAL LIGHT TELECOM. COM 362284101 4,724 524,863 SH SOLE 524,863
GUCCI GROUP NV COM 401566104 6,256 89,367 SH SOLE 89,367
GULFSTREAM AEROSPACE CORP COM 402734107 9,623 142,424 SH SOLE 142,424
HIBERNIA CORP COM 428656102 1,878 119,701 SH SOLE 119,701
HIGHPOINT TELECOMMUNICATIONS COM 430904102 374 49,875 SH SOLE 49,875
HOLLYWOOD PARK INC COM 436255103 1,882 110,724 SH SOLE 110,724
HONEYWELL INC COM 438506107 7,929 68,429 SH SOLE 68,429
HOUSEHOLD INTERNATIONAL INC COM 441815107 6,023 127,134 SH SOLE 127,134
JEFFRIES & CO COM 472318104 1,119 37,291 SH SOLE 37,291
LIMITED INC COM 532716107 7,448 164,152 SH SOLE 164,152
LORAL SPACE & COMMUNICATIONS COM G56462107 7,714 428,571 SH SOLE 428,571
LUCENT TECHNOLOGIES INC COM 549463107 33,677 499,381 SH SOLE 499,381
LUXOTTICA GROUP SPA COM 55068R202 1,242 79,801 SH SOLE 79,801
MARK IV INDS INC COM COM 570387100 1,629 77,100 SH SOLE 77,100
MCI WORLDCOM INC COM 55268B106 38,065 441,332 SH SOLE 441,332
MEDIAONE GROUP INC COM 58440J104 4,823 64,850 SH SOLE 64,850
MERRILL LYNCH & CO INC COM 590188108 2,392 29,926 SH SOLE 29,926
MIDAMERICAN ENERGY HLDGS COM 59562V107 9,924 286,614 SH SOLE 286,614
NALCO CHEMICAL CO COM 629853102 2,587 49,875 SH SOLE 49,875
NEWS CORP LTD COM 652487802 7,832 248,151 SH SOLE 248,151
NOKIA CORP COM 654902204 7,746 84,595 SH SOLE 84,595
PARK PLACE ENTERTAINMENT CORP COM 700690100 2,803 289,291 SH SOLE 289,291
POWERHOUSE TECH INC COM COM 739323103 2,626 134,678 SH SOLE 134,678
QWEST COMMUNICATIONS COM 749121109 1,649 49,877 SH SOLE 49,877
RAYCHEM CORP COM 754603108 5,721 154,614 SH SOLE 154,614
RAYTHEON CO CL B COM 755111101 5,616 79,801 SH SOLE 79,801
RCN CORPORATION COM 749361101 4,550 109,304 SH SOLE 109,304
REPUBLIC NEW YORK COM 760719104 12,176 178,564 SH SOLE 178,564
ST PAUL COMPANIES COM 792860108 5,585 175,565 SH SOLE 175,565
TCA CABLE TV INC COM 872241104 4,182 75,349 SH SOLE 75,349
TRANSAMERICA CORP COM 893485102 5,063 67,500 SH SOLE 67,500
TRAVELERS PROPERTY C COM 893939108 2,069 52,876 SH SOLE 52,876
TRIAD HOSPITALS INC COM 89579K109 2,222 164,601 SH SOLE 164,601
TYCO INTERNATIONAL COM 902124106 22,625 238,784 SH SOLE 238,784
US WEST INC COM 91273H101 7,548 128,483 SH SOLE 128,483
UST CORP COM 902900109 754 24,938 SH SOLE 24,938
VARLEN CORP COM 922248109 8,452 208,686 SH SOLE 208,686
VODAFONE GROUP PLC COM 92857T107 60,097 305,063 SH SOLE 305,063
WASTE MANAGEMENT INC COM 94106L109 1,877 34,914 SH SOLE 34,914
WHITMAN CORP COM 96647R107 8,267 459,255 SH SOLE 459,255
WITCO CORP COM 977385103 1,257 62,843 SH SOLE 62,843
WORKFLOW MANAGEMENT INC COM 98137N109 2,688 188,645 SH SOLE 188,645
</TABLE>
