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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
+5.79%
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
$5.39B
AUM Growth
-$591M
(-9.9%)
Cap. Flow
-$820M
Cap. Flow
% of AUM
-15.22%
Top 10 Holdings %
Top 10 Hldgs %
77.22%
Holding
64
New
5
Increased
13
Reduced
15
Closed
15
Top Buys
| Rank | Stock | Value |
|---|---|---|
| 1 |
DaVita
DVA
|
+$45.4M |
| 2 |
Bally's
BALY
|
+$42.9M |
| 3 |
Alaska Air
ALK
|
+$42.7M |
| 4 |
Skywest
SKYW
|
+$23.5M |
| 5 |
Groupon
GRPN
|
+$17.7M |
Top Sells
| Rank | Stock | Value |
|---|---|---|
| 1 |
Southwest Airlines
LUV
|
+$226M |
| 2 |
Boyd Gaming
BYD
|
+$98.9M |
| 3 |
Booking.com
BKNG
|
+$97.3M |
| 4 |
SGI
Somnigroup International
SGI
|
+$93.8M |
| 5 |
BRSL
Brightstar Lottery PLC
BRSL
|
+$83.6M |
Sector Composition
| Rank | Sector | Weight |
|---|---|---|
| 1 | Industrials | 46.85% |
| 2 | Consumer Discretionary | 33.32% |
| 3 | Communication Services | 7.67% |
| 4 | Financials | 4.02% |
| 5 | Healthcare | 3.55% |
| Name | Market Value | Portfolio Weight | Shares or Principal |
Change in Stake | Capital Flow | |
|---|---|---|---|---|---|---|
|
26
Skywest
SKYW
$4.35B
| $24.9M | 0.46% |
+458,884
| New | +$23.5M |
|
27
QuinStreet
QNST
$927M
| $23.7M | 0.44% |
1,767,697
+657,468
| +59% | +$10.2M |
|
|
ENT
28
DELISTED
Global Eagle Entertainment Inc.
ENT
| $20.6M | 0.38% |
1,159,243
| – | – |
|
29
Carvana
CVNA
$47.5B
| $20M | 0.37% |
1,725,000
| – | – |
|
|
CIVI
30
DELISTED
Civitas Resources
CIVI
| $19.4M | 0.36% |
853,568
-75,832
| -8% | -$1.75M |
|
|
SGI
31
Somnigroup International
SGI
$14.4B
| $18.2M | 0.34% |
1,259,600
-6,932,400
| -85% | -$93.8M |
|
32
PennyMac Financial
PFSI
$4.47B
| $16.8M | 0.31% |
756,300
+56,300
| +8% | +$1.23M |
|
33
Cigna
CI
$78.4B
| $11.3M | 0.21% |
70,000
| – | – |
|
34
Webster Financial
WBS
$12.3B
| $10.6M | 0.2% |
210,100
| – | – |
|
|
TSG
35
DELISTED
The Stars Group Inc.
TSG
| $9.7M | 0.18% |
554,100
-150,000
| -21% | -$2.58M |
|
36
LendingTree
TREE
$551M
| $9.28M | 0.17% |
26,400
| – | – |
|
|
VLRS
37
Controladora Vuela Compania de Aviacion
VLRS
$869M
| $8.88M | 0.16% |
1,041,608
+137,008
| +15% | +$1.08M |
|
|
SEMG
38
DELISTED
SEMGROUP CORPORATION
SEMG
| $8.22M | 0.15% |
557,779
-150,000
| -21% | -$2.37M |
|
|
SEM
39
DELISTED
Select Medical
SEM
| $8M | 0.15% |
1,053,666
| – | – |
|
40
Avis
CAR
$5.47B
| $7.84M | 0.15% |
225,000
| – | – |
|
41
Cencora
COR
$62B
| $5.96M | 0.11% |
75,000
+25,000
| +50% | +$2.01M |
|
|
GSKY
42
DELISTED
GreenSky, Inc. Class A Common Stock
GSKY
| $5.82M | 0.11% |
+450,000
| New | +$5.13M |
|
43
Elevance Health
ELV
$81.5B
| $5.74M | 0.11% |
20,000
-55,000
| -73% | -$15.9M |
|
44
MakeMyTrip
MMYT
$5.38B
| $2.79M | 0.05% |
101,200
| – | – |
|
|
DESP
45
DELISTED
Despegar.com
DESP
| $2.73M | 0.05% |
183,526
| – | – |
|
46
EverQuote
EVER
$949M
| $1.83M | 0.03% |
246,300
| – | – |
|
|
DVD
47
DELISTED
Dover Motorsports
DVD
| $1.19M | 0.02% |
590,000
-81,931
| -12% | -$165K |
|
|
ZIXI
48
DELISTED
Zix Corporation
ZIXI
| $495K | 0.01% |
+71,900
| New | +$514K |
|
49
Flex
FLEX
$37.7B
| $99K | ﹤0.01% |
+13,151
| New | +$94.1K |
|
50
Gaming and Leisure Properties
GLPI
$13B
| – | – |
-1,006,600
| Closed | -$32.5M |
|
Similar funds
LNC
RBA
DAM
PWP
OTPPB
JGC
CIA
CCM
PAR Capital Management's Q1 2019 Portfolio in Review
As of Q1 2019, PAR Capital Management held 64 positions worth $5.39B, down 9.9% from $5.98B the previous quarter. Its ten largest holdings account for 77% of the portfolio.
PAR Capital Management withdrew a net $820M in Q1 2019, closing 15 positions and reducing 15 holdings. Its most notable exit was Southwest Airlines, an estimated $226M position sold in full.
By sector, the portfolio is most concentrated in Industrials at 47% of assets, up from 47% a quarter earlier, followed by Consumer Discretionary and Communication Services.
Against the trend, PAR Capital Management opened a new position in Bally's worth $42.9M.
- PAR Capital Management's largest Q1 2019 buy was Bally's: 1,432,258 shares worth $42.9M.
- PAR Capital Management added most to DaVita in Q1 2019, an estimated $45.4M increase.
- PAR Capital Management's biggest Q1 2019 reduction was Boyd Gaming, cutting an estimated $98.9M.
- PAR Capital Management fully exited Southwest Airlines in Q1 2019, selling an estimated $226M.
- PAR Capital Management's ten largest holdings make up 77% of its $5.39B portfolio in Q1 2019.
- PAR Capital Management opened 5 new positions and closed 15 in Q1 2019.
- PAR Capital Management's portfolio value fell 9.9% quarter-over-quarter to $5.39B.
Based on PAR Capital Management's 13F filing for Q1 2019, filed 15 May 2019.