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Expires: October 31, 2000
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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: March 31, 2000
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]
May 12, 2000
______________________________________
[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:
70
Form 13F Information Table Value Total:
$ 490,822 (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 of SH/PRN Call Discretion Managers Sole Shared None
- -------------- -------- ----- -------- -------- ------ ---- ---------- -------- ---- ------ ----
Class prn amt
----- -------
<S> <C> <C> <C> <C> <C> <C> <C>
3 COM CORP COM 885535104 6,213 111,695 SH SOLE 111,695
ADELPHIA COMMUNICATIONS CORP COM 006848105 6,709 136,911 SH SOLE 136,911
AETNA INC COM 008117103 4,948 88,847 SH SOLE 88,847
ATLANTIC RICHFIELD CO COM 048825103 10,631 125,065 SH SOLE 125,065
BOC GROUP PLC COM 097189104 951 48,625 SH SOLE 48,625
BOGN COMMUNICATION INTL COM 097189104 2,704 267,025 SH SOLE 267,025
C CUBE SEMICONDUCTOR W/I COM 12501P103 692 24,275 SH SOLE 24,275
C-CUBE MICROSYSTEMS COM 125015107 24,955 342,729 SH SOLE 342,729
CBS CORPORATION COM 12490K107 6,216 109,769 SH SOLE 109,769
CENDANT CORP COM 151313103 3,593 194,200 SH SOLE 194,200
CHAMPION INTERNATIONAL CORP COM 158525105 2,720 51,088 SH SOLE 51,088
COLUMBIA ENERGY GRP COM 197648108 4,322 72,939 SH SOLE 72,939
CONCENTRIC NETWORK CORP COM 20589R107 14,640 266,185 SH SOLE 266,185
EMERSON ELECTRIC CO COM 291011104 8,582 162,315 SH SOLE 162,315
FORD MOTOR CO COM 345370100 3,169 68,993 SH SOLE 68,993
GENERAL MOTORS CORP COM 370442105 15,301 184,762 SH SOLE 184,762
GENERAL MOTORS CORP CL H CL H 370442832 8,462 67,970 SH SOLE 67,970
GLOBAL LIGHT TELECOM. COM 37934X100 10,875 530,485 SH SOLE 530,485
GTE CORP COM COM 362320103 11,937 168,131 SH SOLE 168,131
IMS HEALTH INC COM 449934108 411 24,275 SH SOLE 24,275
INTEL CORP COM 458140100 7,629 57,824 SH SOLE 57,824
JEFFRIES & CO COM 472318104 5,928 259,130 SH SOLE 259,130
K MART CORP COM 482584109 941 97,100 SH SOLE 97,100
KANSAS CITY POWER & LIGHT COM 485134100 845 29,130 SH SOLE 29,130
MARK IV INDS INC COM COM 570387100 2,563 116,169 SH SOLE 116,169
MEDIAONE GROUP INC COM 58440J104 38,896 480,193 SH SOLE 480,193
MEDICAL MANAGER CORP COM 58461U103 2,215 63,180 SH SOLE 63,180
MELLON BK CORP COM COM 585509102 2,441 82,735 SH SOLE 82,735
MICROSOFT CORP COM 594918104 2,847 26,799 SH SOLE 26,799
MIRAGE RESORTS COM 60462e104 235 12,138 SH SOLE 12,138
<PAGE>
MOTOROLA INC COM 620076109 4,060 28,513 SH SOLE 28,513
NAVIGANT INTERNATIONAL INC COM 63935R108 2,677 281,836 SH SOLE 281,836
NEWBRIDGE NETWORKS CORP COM 650901101 12,052 371,544 SH SOLE 371,544
ORTEL CORP COM 68749W102 14,516 77,341 SH SOLE 77,341
PAIRGAIN TECHNOLOGIES COM 695934109 2,323 124,290 SH SOLE 124,290
PIMCO ADVISORS COM 69338P102 6,132 160,055 SH SOLE 160,055
PUBLICARD INC COM 744627100 1,758 180,342 SH SOLE 180,342
QWEST COMMUNICATIONS COM 749121109 7,555 155,774 SH SOLE 155,774
SEAGATE TECHNOLOGY COM 811804103 11,826 196,281 SH SOLE 196,281
SOUTHDOWN INC COM 841297104 4,251 72,048 SH SOLE 72,048
ST LAURENT PAPERBOARD INC COM 790907109 393 19,977 SH SOLE 19,977
STARWOOD HOTELS &RESORTS COM 855905204 5,983 227,919 SH SOLE 227,919
STERLING SOFTWARE INC COM 859547101 2,388 72,925 SH SOLE 72,925
SYMBOL TECHNOLOGIES INC COM 871508107 3,673 44,625 SH SOLE 44,625
TELECOMMUNICACOES SPONS. 87929A102 2,159 72,716 SH SOLE 72,716
ADR
TELEFONICA DE ARGEN SPONS. 879378206 1,975 50,308 SH SOLE 50,308
ADR
THE SABRE GROUP COM 785905100 3,840 103,955 SH SOLE 103,955
TRAVELERS PROPERTY C COM 893939108 2,003 48,550 SH SOLE 48,550
TYCO INTERNATIONAL COM 902124106 11,899 238,575 SH SOLE 238,575
UNION CARBIDE CORP COM COM 905581104 4,700 80,599 SH SOLE 80,599
UNISYS CORP COM 909214108 3,095 121,375 SH SOLE 121,375
US WEST INC COM 91273H101 10,627 146,325 SH SOLE 146,325
WARNER LAMBERT COM 934488107 5,381 55,194 SH SOLE 55,194
WESLEY JESSEN VISIONCARE INC COM 951018100 1,745 48,550 SH SOLE 48,550
WILLIAMS COMPANIES INC COM 969457100 2,380 54,176 SH SOLE 54,176
WORKFLOW MANAGEMENT INC COM 98137N109 3,877 143,925 SH SOLE 143,925
AMERICAN INTL GROUP INC COM 026874107 1,788 16,328 SH SOLE 16,328
AMERICAN TEL & TEL COM 001957109 22,312 396,654 SH SOLE 396,654
BP AMOCO PLC SPONS. 055622104 6,102 114,999 SH SOLE 114,999
ADR
EMC CORP COM 268648102 8,306 66,449 SH SOLE 66,449
GLOBAL CROSSINGS LTD COM G3921A100 8,107 198,036 SH SOLE 198,036
MOTOROLA INC COM 620076109 7,806 54,829 SH SOLE 54,829
TYCO INTERNATIONAL COM 902124106 23,819 477,568 SH SOLE 477,568
VODAFONE AIRTOUCH PLC ADR SPONS. 92857T107 57,743 1,039,240 SH SOLE 1,039,240
ADR
<PAGE>
VOICESTREAM WIRELESS CORP COM 928615103 7,214 56,007 SH SOLE 56,007
AMERICAN TEL & TEL CALLS CALL 001957909 633 1,011 CALL SOLE 1,011
QWEST COMMUNICATIONS CALLS CALL 749121909 250 106 CALL SOLE 106
HANNAFORD BROS CO CALLS CALL 410550907 90 29 CALL SOLE 29
PAIRGAIN TECHNOLOGIES PUTS PUT 695934959 300 13 PUT SOLE 13
TIME WARNER INC PUTS PUT 887315959 513 301 PUT SOLE 301
</TABLE>
