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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
+9.38%
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
$5.97B
AUM Growth
+$581M
Cap. Flow
+$76.5M
Cap. Flow %
1.28%
Top 10 Hldgs %
78.63%
Holding
55
New
6
Increased
14
Reduced
8
Closed
3

Top Buys

Rank Stock Value
1
EXPE icon
Expedia Group
EXPE
+$190M
2
DVA icon
DaVita
DVA
+$62.2M
3
TRVG
trivago
TRVG
+$29.5M
4
GRUB
Just Eat Takeaway.com N.V. American Depositary Shares
GRUB
+$23.8M
5
SYF icon
Synchrony
SYF
+$8.47M

Top Sells

Rank Stock Value
1
DAL icon
Delta Air Lines
DAL
+$122M
2
UAL icon
United Airlines
UAL
+$47M
3
CZR
Caesars Entertainment Corporation
CZR
+$31.3M
4
ENT
Global Eagle Entertainment Inc.
ENT
+$20.6M
5
SGI
Somnigroup International
SGI
+$17.1M

Sector Composition

Rank Sector Weight
1 Industrials 44.01%
2 Consumer Discretionary 35.45%
3 Communication Services 7.73%
4 Financials 4.32%
5 Healthcare 4.27%
Name Market Value Portfolio Weight Shares or Principal Change
in Stake 		Capital Flow
GRUB
26
DELISTED
Just Eat Takeaway.com N.V. American Depositary Shares
GRUB
$27.3M 0.46%
+175,000
New +$23.8M
BRSL
27
Brightstar Lottery PLC
BRSL
$1.9B
$26.8M 0.45%
2,062,747
+20,000
+1% +$272K
CVNA icon
28
Carvana
CVNA
$47.5B
$21.6M 0.36%
1,725,000
– –
PFSI icon
29
PennyMac Financial
PFSI
$4.47B
$21.1M 0.35%
950,000
+193,700
+26% +$4.31M
CIVI
30
DELISTED
Civitas Resources
CIVI
$19.7M 0.33%
945,014
+91,446
+11% +$2M
VLRS
31
Controladora Vuela Compania de Aviacion
VLRS
$869M
$12.7M 0.21%
1,357,889
+316,281
+30% +$2.93M
TREE icon
32
LendingTree
TREE
$551M
$11.1M 0.19%
26,400
– –
WBS icon
33
Webster Financial
WBS
$12.3B
$10M 0.17%
210,100
– –
SEM
34
DELISTED
Select Medical
SEM
$9.01M 0.15%
1,053,666
– –
GSKY
35
DELISTED
GreenSky, Inc. Class A Common Stock
GSKY
$8.89M 0.15%
723,400
+273,400
+61% +$3.58M
TSG
36
DELISTED
The Stars Group Inc.
TSG
$8.61M 0.14%
504,100
-50,000
-9% -$888K
CAR icon
37
Avis
CAR
$5.47B
$7.91M 0.13%
225,000
– –
Z icon
38
Zillow
Z
$7.78B
$7.19M 0.12%
+155,000
New +$6.17M
SEMG
39
DELISTED
SEMGROUP CORPORATION
SEMG
$6.45M 0.11%
537,779
-20,000
-4% -$265K
COR icon
40
Cencora
COR
$62B
$6.39M 0.11%
75,000
– –
ELV icon
41
Elevance Health
ELV
$81.5B
$5.64M 0.09%
20,000
– –
HTZ
42
CALL
DELISTED
Hertz Global Holdings, Inc.
HTZ
$4.79M 0.08%
+3,000
New +$45.2K
SGI
43
Somnigroup International
SGI
$14.4B
$3.67M 0.06%
200,000
-1,059,600
-84% -$17.1M
IWM icon
44
PUT
iShares Russell 2000 ETF
IWM
$79.1B
$3.11M 0.05%
+200
New +$30.8K
DESP
45
DELISTED
Despegar.com
DESP
$2.55M 0.04%
183,526
– –
HOUS
46
DELISTED
Anywhere Real Estate
HOUS
$2.53M 0.04%
+350,000
New +$3.26M
MMYT icon
47
MakeMyTrip
MMYT
$5.38B
$2.51M 0.04%
101,200
– –
EVER icon
48
EverQuote
EVER
$949M
$1.63M 0.03%
125,000
-121,300
-49% -$1.26M
PENN icon
49
PENN Entertainment
PENN
$2.84B
$1.45M 0.02%
+75,000
New +$1.52M
DVD
50
DELISTED
Dover Motorsports
DVD
$1.23M 0.02%
590,000
– –
1
2
3

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JGC
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CIA
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PAR Capital Management's Q2 2019 Portfolio in Review

As of Q2 2019, PAR Capital Management held 55 positions worth $5.97B, up 11% from $5.39B the previous quarter. Its ten largest holdings account for 79% of the portfolio.

PAR Capital Management's Q2 2019 filing shows 6 new, 14 increased, 8 reduced and 3 closed positions. Its largest new stake was Just Eat Takeaway.com N.V. American Depositary Shares: 175,000 shares worth $27.3M. The largest sale was Delta Air Lines, an estimated $122M.

By sector, the portfolio is most concentrated in Industrials at 44% of assets, down from 47% a quarter earlier, followed by Consumer Discretionary and Communication Services.

  • PAR Capital Management's largest Q2 2019 buy was Just Eat Takeaway.com N.V. American Depositary Shares: 175,000 shares worth $27.3M.
  • PAR Capital Management added most to Expedia Group in Q2 2019, an estimated $190M increase.
  • PAR Capital Management's biggest Q2 2019 reduction was Delta Air Lines, cutting an estimated $122M.
  • PAR Capital Management fully exited Caesars Entertainment Corporation in Q2 2019, selling an estimated $31.3M.
  • PAR Capital Management's ten largest holdings make up 79% of its $5.97B portfolio in Q2 2019.
  • PAR Capital Management opened 6 new positions and closed 3 in Q2 2019.
  • PAR Capital Management's portfolio value rose 11% quarter-over-quarter to $5.97B.

Based on PAR Capital Management's 13F filing for Q2 2019, filed 14 Aug 2019.