13D Filing: PAR Capital and United Continental Holdings, Inc. (UAL)

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PAR Capital Management, led by Paul Reeder and Edward Shapiro, has filed a 13D with the US Securities and Exchange Commission, in which it reported its position in United Continental Holdings Inc (NYSE:UAL). According to the filing, PAR Capital holds some 14.13 million shares of United Continental Holdings, which represent 3.8% of the company’s outstanding stock. In its 13F filing for the third quarter, PAR Capital disclosed ownership of 5.38 million shares of United Continental. In addition, since PAR holds an activist position, the filing added:

“On February 5, 2016, the Reporting Persons were granted early termination of the waiting period under the Hart-Scott-Rodino Antitrust Improvements Act of 1976, as amended.”

You can access the original SEC filing by clicking here.

Ownership Summary Table

Name Sole Voting Power Shared Voting Power Sole Dispositive Power Shared Dispositive Power Aggregate Amount Owned Power Percent of Class
PAR Investment Partners, 14,134,711 0 14,134,711 011 14,134,711 3.8%
PAR Group, 14,134,711 0 14,134,711 011 14,134,711 3.8%
PAR Capital Management, Inc. 14,134,711 0 14,134,711 011 14,134,711 3.8%

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CUSIP No. 910047109 Page
of 8 Pages



Washington, D.C. 20549


Under the Securities Exchange Act of 1934

(Amendment No. 1)*

Continental Holdings, Inc.

(Name of Issuer)

Common Stock, $0.01 par value

(Title of Class of Securities)


(CUSIP Number)

PAR Capital Management, Inc.

Attn: Steven M. Smith

One International Place, Suite 2401

Boston, MA 02110


(Name, Address and Telephone Number of Person Authorized to Receive Notices and Communications)

February 5, 2016

of Event which Requires Filing of this Statement)

If the filing
person has previously filed a statement on Schedule 13G to report the acquisition that is the subject of this Schedule 13D, and is filing this schedule because of §§240.13d-1(e), 240.13d-1(f) or 240.13d-1(g), check the following
box:  ¨

Note: Schedules filed in paper format shall include a signed original and five copies of the schedule, including all exhibits. See
§240.13d-7 for other parties to whom copies are to be sent.

* The remainder of this cover page shall be filled out for a reporting persons initial filing on this form with respect to the subject class of securities, and for any subsequent amendment containing information
which would alter disclosures provided in a prior cover page.

The information required on the remainder of this cover page
shall not be deemed to be filed for the purpose of Section 18 of the Securities Exchange Act of 1934 (Act) or otherwise subject to the liabilities of that section of the Act but shall be subject to all other provisions
of the Act (however, see the Notes).

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