PAR Capital Management’s Intercontinental Exchange ICE Stock Holding History

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

Bought

Maintained

Sold

Quarter	Market Value	Status	Shares	Change in Stake	Trade Value	Portfolio Weight	Portfolio Position
2017 Q1	–	Sell	-225,000	Closed	-$12.7M	–	81
2016 Q4	$12.7M	Buy	225,000 +75,000	+50%	+$4.15M	0.17%	59
2016 Q3	$8.08M	Hold	150,000	–	–	0.12%	64
2016 Q2	$7.68M	Hold	150,000	–	–	0.13%	58
2016 Q1	$7.05M	Sell	150,000 -50,000	-25%	-$2.43M	0.11%	61
2015 Q4	$10.3M	Sell	200,000 -40,000	-17%	-$2.01M	0.19%	55
2015 Q3	$11.3M	Sell	240,000 -15,000	-6%	-$694K	0.24%	51
2015 Q2	$11.4M	Sell	255,000 -45,000	-15%	-$2.09M	0.26%	50
2015 Q1	$14M	Buy	300,000 +12,500	+4%	+$563K	0.32%	45
2014 Q4	$12.6M	Buy	287,500 +37,500	+15%	+$1.61M	0.29%	46
2014 Q3	$9.75M	Sell	250,000 -150,000	-38%	-$5.75M	0.26%	50
2014 Q2	$15.1M	Buy	400,000 +162,500	+68%	+$6.33M	0.42%	40
2014 Q1	$9.4M	Buy	+237,500	New	+$10M	0.28%	47

Other funds holding ICE

T. Rowe Price Associates Baltimore, Maryland $999B AUM 46.22% 1-Year Est. Return

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

BlackRock New York $6.73T AUM 46.02% 1-Year Est. Return

Wellington Management Group Boston, Massachusetts $580B AUM 38.23% 1-Year Est. Return

State Street Boston, Massachusetts $3.37T AUM 44.26% 1-Year Est. Return

JP Morgan Chase New York $1.81T AUM 41.13% 1-Year Est. Return

Goldman Sachs New York $1.15T AUM 47.82% 1-Year Est. Return

JSP

Jackson Square Partners Larkspur, California $247M AUM 20.29% 1-Year Est. Return

Bank of New York Mellon New York $609B AUM 40.19% 1-Year Est. Return

Carmignac Gestion Paris, France $7.71B AUM 4.02% 1-Year Est. Return

PAR Capital Management's ICE Position: Q1 2017 in Review

PAR Capital Management sold out of Intercontinental Exchange (ICE) in Q1 2017, closing a stake of 225,000 shares — an estimated $12.7M sold.

PAR Capital Management first reported a position in ICE in Q1 2014 and held it in 12 quarters. The position peaked at $15.1M in Q2 2014. 697 funds tracked by Wall St. Rank hold ICE as of Q1 2017.

PAR Capital Management reported no remaining Intercontinental Exchange position as of Q1 2017 after selling out during the quarter.
PAR Capital Management sold 225,000 Intercontinental Exchange shares in Q1 2017, an estimated $12.7M.
PAR Capital Management first reported a position in Intercontinental Exchange in Q1 2014 and held it in 12 quarters.
PAR Capital Management's Intercontinental Exchange position peaked at $15.1M in Q2 2014.
697 funds tracked by Wall St. Rank held Intercontinental Exchange as of Q1 2017.

Based on PAR Capital Management's 13F filing for Q1 2017, filed 15 May 2017.