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PAR Capital Management Portfolio holdings

AUM $3.45B
1-Year Est. Return 28.5%
This Fund
S&P 500
This Quarter Est. Return
+21.48%
1 Year Est. Return
+28.5%
3 Year Est. Return
+123.74%
5 Year Est. Return
+64.51%
10 Year Est. Return
+369.64%
AUM
$3.01B
AUM Growth
-$250M
Cap. Flow
-$760M
Cap. Flow %
-25.29%
Top 10 Hldgs %
62.59%
Holding
69
New
8
Increased
9
Reduced
17
Closed
13

Top Buys

Rank Stock Value
1
GLPI icon
Gaming and Leisure Properties
GLPI
+$101M
2
LUV icon
Southwest Airlines
LUV
+$57.5M
3
AAL icon
American Airlines Group
AAL
+$51.5M
4
INVN
Invensense Inc
INVN
+$20.4M
5
SLAB icon
Silicon Laboratories
SLAB
+$14.4M

Top Sells

Rank Stock Value
1
BKNG icon
Booking.com
BKNG
+$288M
2
PENN icon
PENN Entertainment
PENN
+$220M
3
ALK icon
Alaska Air
ALK
+$136M
4
MGM icon
MGM Resorts International
MGM
+$75.7M
5
AET
Aetna Inc
AET
+$73.6M

Sector Composition

Rank Sector Weight
1 Consumer Discretionary 35.15%
2 Industrials 31.05%
3 Technology 7.64%
4 Real Estate 3.58%
5 Utilities 1.26%
Name Market Value Portfolio Weight Shares or Principal Change
in Stake 		Capital Flow
AIXG
26
DELISTED
Aixtron SE
AIXG
$24.8M 0.83%
1,708,509
+32,401
+2% +$459K
AYI icon
27
Acuity Brands
AYI
$9.99B
$24.4M 0.81%
223,183
– –
INVN
28
DELISTED
Invensense Inc
INVN
$23.7M 0.79%
+1,139,102
New +$20.4M
ISLE
29
DELISTED
Isle of Capri Casinos Inc
ISLE
$22.2M 0.74%
2,463,467
+211,731
+9% +$1.65M
WCG
30
DELISTED
Wellcare Health Plans, Inc.
WCG
$21.1M 0.7%
300,000
-200,000
-40% -$14M
CRM icon
31
Salesforce
CRM
$154B
$19.3M 0.64%
350,000
-47,000
-12% -$2.51M
SSYS icon
32
Stratasys
SSYS
$666M
$15.3M 0.51%
113,940
-42,060
-27% -$4.86M
SLAB icon
33
Silicon Laboratories
SLAB
$7.14B
$15.3M 0.51%
+352,800
New +$14.4M
MNTG
34
DELISTED
M T R GAMING GROUP INC
MNTG
$14.4M 0.48%
2,792,000
+1,176,352
+73% +$6.19M
GWR
35
DELISTED
Genesee & Wyoming Inc.
GWR
$13.8M 0.46%
143,382
+15,000
+12% +$1.45M
SGY
36
DELISTED
Stone Energy
SGY
$13.7M 0.46%
6,982
+30
+0.4% +$57.4K
MLI icon
37
Mueller Industries
MLI
$14.5B
$12.7M 0.42%
1,612,000
– –
GM icon
38
General Motors
GM
$80.9B
$10.6M 0.35%
258,550
– –
MOH icon
39
Molina Healthcare
MOH
$10.4B
$10.4M 0.35%
+300,000
New +$10.1M
PNK
40
DELISTED
Pinnacle Entertainment Inc.
PNK
$10.4M 0.35%
400,000
– –
ATML
41
DELISTED
ATMEL CORP
ATML
$10.4M 0.35%
1,325,000
-1,050,000
-44% -$7.68M
ELV icon
42
Elevance Health
ELV
$81.5B
$9.43M 0.31%
102,100
-650,000
-86% -$57.8M
NFX
43
DELISTED
Newfield Exploration
NFX
$8.25M 0.27%
335,000
– –
MAS icon
44
Masco
MAS
$14.6B
$7.86M 0.26%
392,610
-210,530
-35% -$3.91M
WYNN icon
45
PUT
Wynn Resorts
WYNN
$10.3B
$7.77M 0.26%
+40,000
New +$6.82M
META icon
46
Meta Platforms (Facebook)
META
$1.49T
$7.65M 0.25%
140,000
– –
FFIV icon
47
F5
FFIV
$22B
$5.44M 0.18%
59,920
-129,380
-68% -$11M
EXP icon
48
Eagle Materials
EXP
$6.49B
$5.23M 0.17%
67,600
– –
GDEN
49
DELISTED
Golden Entertainment
GDEN
$5.2M 0.17%
658,457
– –
RMGN
50
DELISTED
RMG Networks Holding Corporation
RMGN
$4.86M 0.16%
250,000
– –
1
2
3

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OTPPB
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JGC
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CIA
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PAR Capital Management's Q4 2013 Portfolio in Review

As of Q4 2013, PAR Capital Management held 69 positions worth $3.01B, down 7.7% from $3.26B the previous quarter. Its ten largest holdings account for 63% of the portfolio.

PAR Capital Management withdrew a net $760M in Q4 2013, closing 13 positions and reducing 17 holdings. Its most notable exit was MGM Resorts International, an estimated $75.7M position sold in full.

By sector, the portfolio is most concentrated in Consumer Discretionary at 35% of assets, down from 48% a quarter earlier, followed by Industrials and Technology.

Against the trend, PAR Capital Management opened a new position in Gaming and Leisure Properties worth $108M.

  • PAR Capital Management's largest Q4 2013 buy was Gaming and Leisure Properties: 2,120,082 shares worth $108M.
  • PAR Capital Management added most to Boyd Gaming in Q4 2013, an estimated $12.9M increase.
  • PAR Capital Management's biggest Q4 2013 reduction was Booking.com, cutting an estimated $288M.
  • PAR Capital Management fully exited MGM Resorts International in Q4 2013, selling an estimated $75.7M.
  • PAR Capital Management's ten largest holdings make up 63% of its $3.01B portfolio in Q4 2013.
  • PAR Capital Management opened 8 new positions and closed 13 in Q4 2013.
  • PAR Capital Management's portfolio value fell 7.7% quarter-over-quarter to $3.01B.

Based on PAR Capital Management's 13F filing for Q4 2013, filed 14 Feb 2014.