PAR Capital Management’s Salesforce CRM Stock Holding History

PAR Capital Management’s Portfolio CRM Stock Details CRM Fund Activity

Bought

Maintained

Sold

Quarter	Market Value	Status	Shares	Change in Stake	Trade Value	Portfolio Weight	Portfolio Position
2014 Q4	–	Sell	-446,000	Closed	-$25.7M	–	72
2014 Q3	$25.7M	Sell	446,000 -410,000	-48%	-$23.1M	0.68%	31
2014 Q2	$49.7M	Buy	856,000 +300,000	+54%	+$16.2M	1.37%	19
2014 Q1	$31.7M	Buy	556,000 +206,000	+59%	+$12.3M	0.96%	26
2013 Q4	$19.3M	Sell	350,000 -47,000	-12%	-$2.51M	0.64%	31
2013 Q3	$20.6M	Sell	397,000 -245,000	-38%	-$11.1M	0.63%	27
2013 Q2	$24.5M	Buy	+642,000	New	+$26.5M	0.69%	30

Other funds holding CRM

Fidelity Investments Boston, Massachusetts $1.9T AUM 41.92% 1-Year Est. Return

T. Rowe Price Associates Baltimore, Maryland $865B AUM 30.76% 1-Year Est. Return

Vanguard Group Malvern, Pennsylvania $6.9T AUM 27.45% 1-Year Est. Return

Sands Capital Management Arlington, Virginia $25.5B AUM 26.46% 1-Year Est. Return

State Street Boston, Massachusetts $2.9T AUM 29.55% 1-Year Est. Return

Capital World Investors Los Angeles, California $733B AUM 35.63% 1-Year Est. Return

Jennison Associates New York $145B AUM 34.61% 1-Year Est. Return

BIT

BlackRock Institutional Trust San Francisco, California $675B AUM 16.07% 1-Year Est. Return

Ameriprise Minneapolis, Minnesota $432B AUM 30.22% 1-Year Est. Return

Bank of New York Mellon New York $544B AUM 28.31% 1-Year Est. Return

PAR Capital Management's CRM Position: Q4 2014 in Review

PAR Capital Management sold out of Salesforce (CRM) in Q4 2014, closing a stake of 446,000 shares — an estimated $25.7M sold.

PAR Capital Management first reported a position in CRM in Q2 2013 and held it in 6 quarters. The position peaked at $49.7M in Q2 2014. 564 funds tracked by Wall St. Rank hold CRM as of Q4 2014.

PAR Capital Management reported no remaining Salesforce position as of Q4 2014 after selling out during the quarter.
PAR Capital Management sold 446,000 Salesforce shares in Q4 2014, an estimated $25.7M.
PAR Capital Management first reported a position in Salesforce in Q2 2013 and held it in 6 quarters.
PAR Capital Management's Salesforce position peaked at $49.7M in Q2 2014.
564 funds tracked by Wall St. Rank held Salesforce as of Q4 2014.

Based on PAR Capital Management's 13F filing for Q4 2014, filed 17 Feb 2015.