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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
+2.33%
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
$8.23B
AUM Growth
+$578M
Cap. Flow
+$532M
Cap. Flow %
6.47%
Top 10 Hldgs %
60.01%
Holding
89
New
14
Increased
26
Reduced
10
Closed
12

Top Buys

Rank Stock Value
1
HTZ
Hertz Global Holdings, Inc.
HTZ
+$123M
2
CAR icon
Avis
CAR
+$112M
3
SGI
Somnigroup International
SGI
+$105M
4
MCK icon
McKesson
MCK
+$99.5M
5
EXPE icon
Expedia Group
EXPE
+$87M

Top Sells

Rank Stock Value
1
WCG
Wellcare Health Plans, Inc.
WCG
+$64.9M
2
CP icon
Canadian Pacific Kansas City
CP
+$51.2M
3
LNW
Light & Wonder
LNW
+$41.8M
4
DVA icon
DaVita
DVA
+$38.5M
5
IVZ icon
Invesco
IVZ
+$37.2M

Sector Composition

Rank Sector Weight
1 Industrials 42.57%
2 Consumer Discretionary 29.45%
3 Healthcare 13.82%
4 Communication Services 4.14%
5 Energy 2.47%
Name Market Value Portfolio Weight Shares or Principal Change
in Stake 		Capital Flow
CHGG icon
26
Chegg
CHGG
$118M
$73.5M 0.89%
8,702,598
– –
TRVG
27
trivago
TRVG
$389M
$73.2M 0.89%
1,124,258
+774,258
+221% +$46.8M
AAL icon
28
American Airlines Group
AAL
$9.91B
$70.5M 0.86%
1,666,351
– –
JBLU icon
29
JetBlue
JBLU
$2.15B
$65.8M 0.8%
3,193,290
-99,200
-3% -$2.02M
DY icon
30
Dycom Industries
DY
$11.4B
$65.5M 0.8%
705,000
+5,000
+0.7% +$424K
HRI icon
31
Herc Holdings
HRI
$4.84B
$64M 0.78%
1,309,000
+10,000
+0.8% +$470K
WMS icon
32
Advanced Drainage Systems
WMS
$10.7B
$59.9M 0.73%
2,737,000
+147,000
+6% +$3.34M
WLL
33
DELISTED
Whiting Petroleum Corporation
WLL
$56M 0.68%
19,717
+8,300
+73% +$26.9M
ZG icon
34
Zillow
ZG
$7.94B
$54.7M 0.66%
1,617,910
– –
PENN icon
35
PENN Entertainment
PENN
$2.82B
$54.5M 0.66%
2,958,813
-385,200
-12% -$5.65M
CSX icon
36
CSX Corp
CSX
$94.2B
$52.6M 0.64%
3,390,000
+840,000
+33% +$12.8M
WEX icon
37
WEX
WEX
$6.47B
$50.8M 0.62%
491,000
+21,000
+4% +$2.33M
TMX
38
DELISTED
Terminix Global Holdings, Inc.
TMX
$44.8M 0.54%
1,601,243
– –
RRR icon
39
Red Rock Resorts
RRR
$3.84B
$41.7M 0.51%
1,879,671
+794,671
+73% +$18.1M
BRSL
40
Brightstar Lottery PLC
BRSL
$1.91B
$41.5M 0.5%
1,750,000
-1,000,000
-36% -$26M
RAD
41
DELISTED
Rite Aid Corporation
RAD
$38.3M 0.46%
450,000
– –
CP icon
42
Canadian Pacific Kansas City
CP
$81.1B
$36.2M 0.44%
1,232,250
-1,725,000
-58% -$51.2M
V icon
43
Visa
V
$703B
$35.5M 0.43%
400,000
+25,000
+7% +$2.15M
PCYO icon
44
Pure Cycle
PCYO
$258M
$33.2M 0.4%
5,982,970
– –
DOOR
45
DELISTED
MASONITE INTERNATIONAL CORP
DOOR
$30.1M 0.37%
380,000
+113,000
+42% +$8.19M
EXP icon
46
Eagle Materials
EXP
$6.47B
$26.7M 0.32%
274,781
-80,000
-23% -$8.15M
CONN
47
DELISTED
Conn's Inc.
CONN
$24.8M 0.3%
+2,830,000
New +$28.5M
CSGP icon
48
CoStar Group
CSGP
$12.2B
$23.8M 0.29%
1,150,000
– –
MODV
49
DELISTED
ModivCare
MODV
$22.2M 0.27%
500,000
– –
BMCH
50
DELISTED
BMC Stock Holdings, Inc
BMCH
$20.5M 0.25%
905,200
+100,200
+12% +$2.03M
1
2
3 4

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PAR Capital Management's Q1 2017 Portfolio in Review

As of Q1 2017, PAR Capital Management held 89 positions worth $8.23B, up 7.6% from $7.65B the previous quarter. Its ten largest holdings account for 60% of the portfolio.

PAR Capital Management deployed $532M of net new capital in Q1 2017, opening 14 new positions and adding to 26 existing holdings. Its largest new stake was Hertz Global Holdings, Inc.: 6,777,751 shares worth $103M.

By sector, the portfolio is most concentrated in Industrials at 43% of assets, down from 44% a quarter earlier, followed by Consumer Discretionary and Healthcare.

On the sell side, the largest reduction was Canadian Pacific Kansas City, an estimated $51.2M trimmed.

  • PAR Capital Management's largest Q1 2017 buy was Hertz Global Holdings, Inc.: 6,777,751 shares worth $103M.
  • PAR Capital Management added most to Avis in Q1 2017, an estimated $112M increase.
  • PAR Capital Management's biggest Q1 2017 reduction was Canadian Pacific Kansas City, cutting an estimated $51.2M.
  • PAR Capital Management fully exited Wellcare Health Plans, Inc. in Q1 2017, selling an estimated $64.9M.
  • PAR Capital Management's ten largest holdings make up 60% of its $8.23B portfolio in Q1 2017.
  • PAR Capital Management opened 14 new positions and closed 12 in Q1 2017.
  • PAR Capital Management's portfolio value rose 7.6% quarter-over-quarter to $8.23B.

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