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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
+13.14%
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
$8.9B
AUM Growth
+$676M
Cap. Flow
-$187M
Cap. Flow %
-2.11%
Top 10 Hldgs %
61.06%
Holding
91
New
14
Increased
20
Reduced
12
Closed
6

Top Buys

Rank Stock Value
1
DAL icon
Delta Air Lines
DAL
+$98M
2
MCK icon
McKesson
MCK
+$88.9M
3
CZR icon
Caesars Entertainment
CZR
+$69.2M
4
CAR icon
Avis
CAR
+$49.4M
5
BRSL
Brightstar Lottery PLC
BRSL
+$40.7M

Top Sells

Rank Stock Value
1
ALK icon
Alaska Air
ALK
+$176M
2
CI icon
Cigna
CI
+$120M
3
ISLE
Isle of Capri Casinos Inc
ISLE
+$107M
4
MGM icon
MGM Resorts International
MGM
+$92.7M
5
TRIP icon
TripAdvisor
TRIP
+$85.3M

Sector Composition

Rank Sector Weight
1 Industrials 41.92%
2 Consumer Discretionary 28.73%
3 Healthcare 13.81%
4 Communication Services 5.91%
5 Real Estate 2.31%
Name Market Value Portfolio Weight Shares or Principal Change
in Stake 		Capital Flow
ZG icon
26
Zillow
ZG
$7.85B
$79M 0.89%
1,617,910
– –
CHGG icon
27
Chegg
CHGG
$116M
$76.7M 0.86%
6,241,298
-2,461,300
-28% -$26.8M
JBLU icon
28
JetBlue
JBLU
$2.13B
$72.9M 0.82%
3,193,290
– –
BRSL
29
Brightstar Lottery PLC
BRSL
$1.9B
$68.4M 0.77%
3,738,776
+1,988,776
+114% +$40.7M
WEX icon
30
WEX
WEX
$6.42B
$67.8M 0.76%
650,000
+159,000
+32% +$16.4M
HTZ
31
DELISTED
Hertz Global Holdings, Inc.
HTZ
$67.7M 0.76%
6,777,751
– –
DY icon
32
Dycom Industries
DY
$11.2B
$67.1M 0.75%
750,000
+45,000
+6% +$4.36M
CSX icon
33
CSX Corp
CSX
$94B
$61.7M 0.69%
3,390,000
– –
CONN
34
DELISTED
Conn's Inc.
CONN
$57.3M 0.64%
3,000,000
+170,000
+6% +$2.75M
RRR icon
35
Red Rock Resorts
RRR
$3.84B
$55.6M 0.62%
2,362,032
+482,361
+26% +$11.3M
WMS icon
36
Advanced Drainage Systems
WMS
$10.6B
$55M 0.62%
2,737,000
– –
HRI icon
37
Herc Holdings
HRI
$4.78B
$51.5M 0.58%
1,309,000
– –
PCYO icon
38
Pure Cycle
PCYO
$255M
$46.4M 0.52%
5,982,970
– –
TMX
39
DELISTED
Terminix Global Holdings, Inc.
TMX
$42M 0.47%
1,601,243
– –
WLL
40
DELISTED
Whiting Petroleum Corporation
WLL
$41.7M 0.47%
25,217
+5,500
+28% +$12.6M
CP icon
41
Canadian Pacific Kansas City
CP
$81B
$39.6M 0.45%
1,232,250
– –
PENN icon
42
PENN Entertainment
PENN
$2.84B
$38.7M 0.43%
1,808,113
-1,150,700
-39% -$22.6M
V icon
43
Visa
V
$701B
$37.5M 0.42%
400,000
– –
DOOR
44
DELISTED
MASONITE INTERNATIONAL CORP
DOOR
$35.9M 0.4%
475,000
+95,000
+25% +$7.3M
CSGP icon
45
CoStar Group
CSGP
$12.2B
$30.3M 0.34%
1,150,000
– –
RAD
46
DELISTED
Rite Aid Corporation
RAD
$26.6M 0.3%
450,000
– –
EXP icon
47
Eagle Materials
EXP
$6.49B
$25.4M 0.29%
274,781
– –
SEMG
48
DELISTED
SEMGROUP CORPORATION
SEMG
$23.7M 0.27%
877,600
+400,100
+84% +$12.4M
BMCH
49
DELISTED
BMC Stock Holdings, Inc
BMCH
$21.3M 0.24%
975,200
+70,000
+8% +$1.53M
MODV
50
DELISTED
ModivCare
MODV
$17.7M 0.2%
350,000
-150,000
-30% -$6.9M
1
2
3 4

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PAR Capital Management's Q2 2017 Portfolio in Review

As of Q2 2017, PAR Capital Management held 91 positions worth $8.9B, up 8.2% from $8.23B the previous quarter. Its ten largest holdings account for 61% of the portfolio.

PAR Capital Management's Q2 2017 filing shows 14 new, 20 increased, 12 reduced and 6 closed positions. Its largest new stake was O'Reilly Automotive: 1,125,000 shares worth $16.4M. The largest sale was Alaska Air, an estimated $176M.

By sector, the portfolio is most concentrated in Industrials at 42% of assets, down from 43% a quarter earlier, followed by Consumer Discretionary and Healthcare.

  • PAR Capital Management's largest Q2 2017 buy was O'Reilly Automotive: 1,125,000 shares worth $16.4M.
  • PAR Capital Management added most to Delta Air Lines in Q2 2017, an estimated $98M increase.
  • PAR Capital Management's biggest Q2 2017 reduction was Alaska Air, cutting an estimated $176M.
  • PAR Capital Management fully exited Isle of Capri Casinos Inc in Q2 2017, selling an estimated $107M.
  • PAR Capital Management's ten largest holdings make up 61% of its $8.9B portfolio in Q2 2017.
  • PAR Capital Management opened 14 new positions and closed 6 in Q2 2017.
  • PAR Capital Management's portfolio value rose 8.2% quarter-over-quarter to $8.9B.

Based on PAR Capital Management's 13F filing for Q2 2017, filed 14 Aug 2017.