PAR Capital Management’s United Rentals URI Stock Holding History

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

Bought

Maintained

Sold

Quarter	Market Value	Status	Shares	Change in Stake	Trade Value	Portfolio Weight	Portfolio Position
2016 Q2	–	Sell	-755,000	Closed	-$47M	–	88
2016 Q1	$47M	Hold	755,000	–	–	0.75%	27
2015 Q4	$54.8M	Hold	755,000	–	–	1.01%	25
2015 Q3	$45.3M	Sell	755,000 -75,184	-9%	-$5.22M	0.96%	24
2015 Q2	$72.7M	Sell	830,184 -250,000	-23%	-$23.9M	1.65%	19
2015 Q1	$98.5M	Buy	1,080,184 +135,371	+14%	+$12.2M	2.27%	16
2014 Q4	$96.4M	Buy	944,813 +10,000	+1%	+$1.07M	2.23%	16
2014 Q3	$104M	Hold	934,813	–	–	2.77%	13
2014 Q2	$97.9M	Hold	934,813	–	–	2.7%	13
2014 Q1	$88.8M	Buy	934,813 +2,000	+0.2%	+$170K	2.68%	15
2013 Q4	$72.7M	Sell	932,813 -90,000	-9%	-$6.03M	2.42%	14
2013 Q3	$59.6M	Sell	1,022,813 -380,000	-27%	-$21.1M	1.83%	17
2013 Q2	$70M	Buy	+1,402,813	New	+$74.7M	1.97%	15

Other funds holding URI

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

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

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

General Electric Evendale, Ohio $369M AUM 19.65% 1-Year Est. Return

BIT

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

Dimensional Fund Advisors Austin, Texas $481B AUM 30.42% 1-Year Est. Return

Manulife (Manufacturers Life Insurance) Canada, Ontario, Canada $116B AUM 26.37% 1-Year Est. Return

Bank of Montreal Toronto, Ontario, Canada $269B AUM 31.4% 1-Year Est. Return

MCM

Marcato Capital Management San Francisco, California $1.2M AUM 91.17% 1-Year Est. Return

BFA

BlackRock Fund Advisors San Francisco, California $542B AUM 18.13% 1-Year Est. Return

PAR Capital Management's URI Position: Q2 2016 in Review

PAR Capital Management sold out of United Rentals (URI) in Q2 2016, closing a stake of 755,000 shares — an estimated $47M sold.

PAR Capital Management first reported a position in URI in Q2 2013 and held it in 12 quarters. The position peaked at $104M in Q3 2014. 479 funds tracked by Wall St. Rank hold URI as of Q2 2016.

PAR Capital Management reported no remaining United Rentals position as of Q2 2016 after selling out during the quarter.
PAR Capital Management sold 755,000 United Rentals shares in Q2 2016, an estimated $47M.
PAR Capital Management first reported a position in United Rentals in Q2 2013 and held it in 12 quarters.
PAR Capital Management's United Rentals position peaked at $104M in Q3 2014.
479 funds tracked by Wall St. Rank held United Rentals as of Q2 2016.

Based on PAR Capital Management's 13F filing for Q2 2016, filed 15 Aug 2016.