PAR PAC HOLDINGS INC

Ticker: PARR CUSIP: 69888T207 Class: Common Stock

ADVENT CAPITAL MANAGEMENT /DE/'s Holding History (CIK: 0001097278)

Note: Option positions (PUT/CALL) are excluded.

Q1 2014

Shares 150,000 Value ($000) $2,997 Avg Close $21.56 Range $19.90 - $23.90

Q4 2013

Shares 1,500,000 Value ($000) $3,345 Avg Close $21.22 Range $18.50 - $25.00

Period	Shares	Value ($000)	Average Close	Price Range
Q1 2014	150,000	$2,997	$21.56	$19.90 - $23.90
Q4 2013	1,500,000	$3,345	$21.22	$18.50 - $25.00