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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
-2.69%
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
$3.75B
AUM Growth
+$125M
Cap. Flow
+$289M
Cap. Flow %
7.72%
Top 10 Hldgs %
56.26%
Holding
78
New
14
Increased
22
Reduced
11
Closed
9

Top Buys

Rank Stock Value
1
DAL icon
Delta Air Lines
DAL
+$87M
2
ALGT icon
Allegiant Air
ALGT
+$47.2M
3
UAL icon
United Airlines
UAL
+$37.1M
4
WCG
Wellcare Health Plans, Inc.
WCG
+$33.2M
5
RAD
Rite Aid Corporation
RAD
+$32.3M

Top Sells

Rank Stock Value
1
KLAC icon
KLA
KLAC
+$42.3M
2
CRM icon
Salesforce
CRM
+$23.1M
3
INVN
Invensense Inc
INVN
+$22.5M
4
SLAB icon
Silicon Laboratories
SLAB
+$19M
5
MNTG
M T R GAMING GROUP INC
MNTG
+$15M

Sector Composition

Rank Sector Weight
1 Consumer Discretionary 36.99%
2 Industrials 35.91%
3 Technology 4.02%
4 Real Estate 2.87%
5 Financials 1.87%
Name Market Value Portfolio Weight Shares or Principal Change
in Stake 		Capital Flow
AYI icon
26
Acuity Brands
AYI
$9.99B
$35.5M 0.95%
301,783
-55,000
-15% -$6.48M
CP icon
27
Canadian Pacific Kansas City
CP
$81B
$34.2M 0.91%
825,000
+75,000
+10% +$2.94M
VECO icon
28
Veeco
VECO
$2.62B
$32.7M 0.87%
935,465
-50,000
-5% -$1.76M
LNW
29
DELISTED
Light & Wonder
LNW
$32.3M 0.86%
3,000,000
+2,642,168
+738% +$27M
WCG
30
DELISTED
Wellcare Health Plans, Inc.
WCG
$30.2M 0.8%
+500,000
New +$33.2M
CRM icon
31
Salesforce
CRM
$154B
$25.7M 0.68%
446,000
-410,000
-48% -$23.1M
POZN
32
DELISTED
POZEN INC
POZN
$24.7M 0.66%
3,363,699
+500,000
+17% +$4.03M
RAD
33
DELISTED
Rite Aid Corporation
RAD
$24.2M 0.65%
+250,000
New +$32.3M
MGLN
34
DELISTED
Magellan Health Services, Inc.
MGLN
$21.9M 0.58%
400,000
– –
AIXG
35
DELISTED
Aixtron SE
AIXG
$21.9M 0.58%
1,446,377
-352,132
-20% -$4.74M
IVZ icon
36
Invesco
IVZ
$12.4B
$19.7M 0.53%
500,000
-30,000
-6% -$1.18M
APC
37
DELISTED
Anadarko Petroleum
APC
$19M 0.51%
187,444
– –
VVTV
38
DELISTED
VALUEVISION MEDIA INC
VVTV
$18.3M 0.49%
3,562,300
– –
FCX icon
39
Freeport-McMoran
FCX
$86.2B
$17.6M 0.47%
540,000
– –
GWR
40
DELISTED
Genesee & Wyoming Inc.
GWR
$17.3M 0.46%
181,382
– –
LVS icon
41
Las Vegas Sands
LVS
$32.2B
$16.8M 0.45%
+270,000
New +$18.5M
APAM icon
42
Artisan Partners
APAM
$2.86B
$14.6M 0.39%
280,000
+50,000
+22% +$2.7M
CPA icon
43
Copa Holdings
CPA
$5.56B
$13.4M 0.36%
+125,000
New +$16.7M
MOH icon
44
Molina Healthcare
MOH
$10.4B
$12.7M 0.34%
300,000
– –
VRTS icon
45
Virtus Investment Partners
VRTS
$1.12B
$12.2M 0.32%
70,000
+37,500
+115% +$7.63M
MLI icon
46
Mueller Industries
MLI
$14.5B
$11.8M 0.31%
1,652,000
– –
META icon
47
Meta Platforms (Facebook)
META
$1.49T
$10.9M 0.29%
137,500
-2,500
-2% -$183K
CZR icon
48
Caesars Entertainment
CZR
$6.06B
$10.1M 0.27%
+2,400,411
New +$10.2M
PNK
49
DELISTED
Pinnacle Entertainment Inc.
PNK
$10M 0.27%
400,000
– –
ICE icon
50
Intercontinental Exchange
ICE
$87.2B
$9.75M 0.26%
250,000
-150,000
-38% -$5.75M
1
2
3 4

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RBA
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DAM
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PWP
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OTPPB
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JGC
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CIA
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CCM
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PAR Capital Management's Q3 2014 Portfolio in Review

As of Q3 2014, PAR Capital Management held 78 positions worth $3.75B, up 3.4% from $3.62B the previous quarter. Its ten largest holdings account for 56% of the portfolio.

PAR Capital Management deployed $289M of net new capital in Q3 2014, opening 14 new positions and adding to 22 existing holdings. Its largest new stake was Allegiant Air: 385,000 shares worth $47.6M.

By sector, the portfolio is most concentrated in Consumer Discretionary at 37% of assets, down from 39% a quarter earlier, followed by Industrials and Technology.

On the sell side, the largest reduction was KLA, an estimated $42.3M trimmed.

  • PAR Capital Management's largest Q3 2014 buy was Allegiant Air: 385,000 shares worth $47.6M.
  • PAR Capital Management added most to Delta Air Lines in Q3 2014, an estimated $87M increase.
  • PAR Capital Management's biggest Q3 2014 reduction was KLA, cutting an estimated $42.3M.
  • PAR Capital Management fully exited Invensense Inc in Q3 2014, selling an estimated $22.5M.
  • PAR Capital Management's ten largest holdings make up 56% of its $3.75B portfolio in Q3 2014.
  • PAR Capital Management opened 14 new positions and closed 9 in Q3 2014.
  • PAR Capital Management's portfolio value rose 3.4% quarter-over-quarter to $3.75B.

Based on PAR Capital Management's 13F filing for Q3 2014, filed 14 Nov 2014.