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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
+10.92%
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
$7.65B
AUM Growth
+$724M
Cap. Flow
+$162M
Cap. Flow %
2.12%
Top 10 Hldgs %
59.47%
Holding
88
New
4
Increased
27
Reduced
15
Closed
13

Top Buys

Rank Stock Value
1
MCK icon
McKesson
MCK
+$138M
2
CI icon
Cigna
CI
+$50M
3
AAL icon
American Airlines Group
AAL
+$29.1M
4
GLPI icon
Gaming and Leisure Properties
GLPI
+$25.9M
5
BYD icon
Boyd Gaming
BYD
+$22M

Top Sells

Rank Stock Value
1
CHDN icon
Churchill Downs
CHDN
+$88.7M
2
WYNN icon
Wynn Resorts
WYNN
+$28.6M
3
EXP icon
Eagle Materials
EXP
+$23.9M
4
DKS icon
Dick's Sporting Goods
DKS
+$19.9M
5
DAL icon
Delta Air Lines
DAL
+$18.2M

Sector Composition

Rank Sector Weight
1 Industrials 43.71%
2 Consumer Discretionary 26.63%
3 Healthcare 12.66%
4 Communication Services 3.76%
5 Real Estate 2.24%
Name Market Value Portfolio Weight Shares or Principal Change
in Stake 		Capital Flow
BRSL
26
Brightstar Lottery PLC
BRSL
$1.9B
$70.2M 0.92%
2,750,000
– –
WCG
27
DELISTED
Wellcare Health Plans, Inc.
WCG
$64.9M 0.85%
473,701
– –
CHGG icon
28
Chegg
CHGG
$116M
$64.2M 0.84%
8,702,598
– –
TRUE
29
DELISTED
TrueCar
TRUE
$61.6M 0.81%
4,928,447
-103,121
-2% -$1.16M
ZG icon
30
Zillow
ZG
$7.85B
$59M 0.77%
1,617,910
– –
DY icon
31
Dycom Industries
DY
$11.2B
$56.2M 0.73%
700,000
+235,000
+51% +$19M
WMS icon
32
Advanced Drainage Systems
WMS
$10.6B
$53.4M 0.7%
2,590,000
+50,000
+2% +$1.05M
WEX icon
33
WEX
WEX
$6.42B
$52.5M 0.69%
470,000
+35,000
+8% +$3.79M
HRI icon
34
Herc Holdings
HRI
$4.78B
$52.2M 0.68%
1,299,000
– –
CAR icon
35
Avis
CAR
$5.47B
$50.8M 0.66%
1,385,869
– –
PENN icon
36
PENN Entertainment
PENN
$2.84B
$46.1M 0.6%
3,344,013
– –
LNW
37
DELISTED
Light & Wonder
LNW
$41.8M 0.55%
2,988,213
-36,200
-1% -$495K
WLL
38
DELISTED
Whiting Petroleum Corporation
WLL
$41.2M 0.54%
11,417
+417
+4% +$1.25M
TMX
39
DELISTED
Terminix Global Holdings, Inc.
TMX
$40.4M 0.53%
1,601,243
– –
DVA icon
40
DaVita
DVA
$15.5B
$38.5M 0.5%
600,000
+100,000
+20% +$6.23M
IVZ icon
41
Invesco
IVZ
$12.4B
$37.2M 0.49%
1,225,000
– –
VLRS
42
Controladora Vuela Compania de Aviacion
VLRS
$869M
$37.1M 0.49%
2,469,670
-769,000
-24% -$12.8M
EXP icon
43
Eagle Materials
EXP
$6.49B
$35M 0.46%
354,781
-266,000
-43% -$23.9M
PCYO icon
44
Pure Cycle
PCYO
$255M
$32.9M 0.43%
5,982,970
– –
CSX icon
45
CSX Corp
CSX
$94B
$30.5M 0.4%
2,550,000
+1,800,000
+240% +$20.2M
V icon
46
Visa
V
$701B
$29.3M 0.38%
375,000
+90,000
+32% +$7.24M
ARLZ
47
DELISTED
Aralez Pharmaceuticals Inc.
ARLZ
$28.2M 0.37%
6,400,000
– –
RRR icon
48
Red Rock Resorts
RRR
$3.84B
$25.2M 0.33%
1,085,000
+550,000
+103% +$12.5M
CSGP icon
49
CoStar Group
CSGP
$12.2B
$21.7M 0.28%
1,150,000
+300,000
+35% +$5.89M
TRVG
50
trivago
TRVG
$385M
$20.6M 0.27%
+350,000
New +$20.6M
1
2
3 4

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OTPPB
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PAR Capital Management's Q4 2016 Portfolio in Review

As of Q4 2016, PAR Capital Management held 88 positions worth $7.65B, up 10% from $6.92B the previous quarter. Its ten largest holdings account for 59% of the portfolio.

PAR Capital Management's Q4 2016 filing shows 4 new, 27 increased, 15 reduced and 13 closed positions. Its largest new stake was trivago: 350,000 shares worth $20.6M. The largest sale was Churchill Downs, an estimated $88.7M.

By sector, the portfolio is most concentrated in Industrials at 44% of assets, up from 39% a quarter earlier, followed by Consumer Discretionary and Healthcare.

  • PAR Capital Management's largest Q4 2016 buy was trivago: 350,000 shares worth $20.6M.
  • PAR Capital Management added most to McKesson in Q4 2016, an estimated $138M increase.
  • PAR Capital Management's biggest Q4 2016 reduction was Churchill Downs, cutting an estimated $88.7M.
  • PAR Capital Management fully exited Dick's Sporting Goods in Q4 2016, selling an estimated $19.9M.
  • PAR Capital Management's ten largest holdings make up 59% of its $7.65B portfolio in Q4 2016.
  • PAR Capital Management opened 4 new positions and closed 13 in Q4 2016.
  • PAR Capital Management's portfolio value rose 10% quarter-over-quarter to $7.65B.

Based on PAR Capital Management's 13F filing for Q4 2016, filed 14 Feb 2017.