PAR Capital Management’s Caesars Entertainment CZR Stock Holding History

Bought

Maintained

Sold

Quarter	Market Value	Status	Shares	Change in Stake	Trade Value	Portfolio Weight	Portfolio Position
2018 Q4	–	Sell	-3,926,940	Closed	-$191M	–	64
2018 Q3	$191M	Sell	3,926,940 -1,500,000	-28%	-$68.1M	2.19%	10
2018 Q2	$212M	Sell	5,426,940 -2,047,839	-27%	-$84.7M	2.39%	12
2018 Q1	$247M	Hold	7,474,779	–	–	2.71%	10
2017 Q4	$248M	Hold	7,474,779	–	–	2.77%	8
2017 Q3	$192M	Hold	7,474,779	–	–	2.18%	11
2017 Q2	$149M	Buy	7,474,779 +3,459,779	+86%	+$69.2M	1.68%	16
2017 Q1	$76M	Sell	4,015,000 -650,000	-14%	-$11M	0.92%	24
2016 Q4	$79.1M	Hold	4,665,000	–	–	1.03%	22
2016 Q3	$65.6M	Buy	4,665,000 +1,113,161	+31%	+$16M	0.95%	23
2016 Q2	$54M	Hold	3,551,839	–	–	0.9%	26
2016 Q1	$40.6M	Buy	3,551,839 +1,000,129	+39%	+$10.4M	0.65%	34
2015 Q4	$28.1M	Sell	2,551,710 -300,625	-11%	-$2.9M	0.52%	39
2015 Q3	$25.7M	Sell	2,852,335 -923,060	-24%	-$8.31M	0.54%	37
2015 Q2	$29.5M	Sell	3,775,395 -25,200	-0.7%	-$187K	0.67%	35
2015 Q1	$19.1M	Buy	3,800,595 +53,290	+1%	+$239K	0.44%	37
2014 Q4	$15.2M	Buy	3,747,305 +1,346,894	+56%	+$5.61M	0.35%	41
2014 Q3	$10.1M	Buy	+2,400,411	New	+$10.2M	0.27%	48