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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
+10.41%
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
$3.31B
AUM Growth
+$302M
Cap. Flow
+$39M
Cap. Flow %
1.18%
Top 10 Hldgs %
55.51%
Holding
70
New
14
Increased
22
Reduced
9
Closed
6

Top Buys

Rank Stock Value
1
EXPE icon
Expedia Group
EXPE
+$69.2M
2
PENN icon
PENN Entertainment
PENN
+$52.5M
3
VECO icon
Veeco
VECO
+$38.1M
4
LUV icon
Southwest Airlines
LUV
+$33.2M
5
IVZ icon
Invesco
IVZ
+$17.3M

Top Sells

Rank Stock Value
1
BKNG icon
Booking.com
BKNG
+$188M
2
CAR icon
Avis
CAR
+$122M
3
WCG
Wellcare Health Plans, Inc.
WCG
+$21.1M
4
AYI icon
Acuity Brands
AYI
+$9.3M
5
ISLE
Isle of Capri Casinos Inc
ISLE
+$8.57M

Sector Composition

Rank Sector Weight
1 Industrials 33.04%
2 Consumer Discretionary 32.27%
3 Technology 8.25%
4 Real Estate 2.44%
5 Financials 1.39%
Name Market Value Portfolio Weight Shares or Principal Change
in Stake 		Capital Flow
GRPN icon
51
Groupon
GRPN
$1.03B
$7.45M 0.23%
+47,500
New +$9.22M
CHGG icon
52
Chegg
CHGG
$116M
$7M 0.21%
+1,000,000
New +$6.97M
EXP icon
53
Eagle Materials
EXP
$6.49B
$6.97M 0.21%
78,600
+11,000
+16% +$907K
PGTI
54
DELISTED
PGT, Inc.
PGTI
$6.8M 0.21%
+591,172
New +$6.62M
GDEN
55
DELISTED
Golden Entertainment
GDEN
$6.58M 0.2%
658,457
– –
MAS icon
56
Masco
MAS
$14.6B
$6.33M 0.19%
324,330
-68,280
-17% -$1.35M
RMGN
57
DELISTED
RMG Networks Holding Corporation
RMGN
$5.65M 0.17%
250,000
– –
EXXI
58
DELISTED
ENERGY XXI LTD COM SHS
EXXI
$5.18M 0.16%
+219,800
New +$5.17M
REXX
59
DELISTED
Rex Energy Corporation
REXX
$3.18M 0.1%
+17,000
New +$3.1M
SHW icon
60
Sherwin-Williams
SHW
$84.8B
$1.77M 0.05%
27,000
– –
NFX
61
DELISTED
Newfield Exploration
NFX
$1.73M 0.05%
55,000
-280,000
-84% -$7.4M
DVD
62
DELISTED
Dover Motorsports
DVD
$1.68M 0.05%
671,931
– –
VLRS
63
Controladora Vuela Compania de Aviacion
VLRS
$869M
$1.16M 0.04%
+140,000
New +$1.53M
FMD
64
DELISTED
FIRST MARBLEHEAD CORP COM STK NEW (DE)
FMD
$362K 0.01%
+60,000
New +$395K
FFIV icon
65
F5
FFIV
$22B
– –
-59,920
Closed -$5.44M
MYGN icon
66
Myriad Genetics
MYGN
$476M
– –
-140,000
Closed -$2.94M
WYNN icon
67
PUT
Wynn Resorts
WYNN
$10.3B
– –
-40,000
Closed -$7.77M
TARO
68
DELISTED
Taro Pharmaceutical Industries Ltd.
TARO
– –
-38,437
Closed -$3.8M
WCG
69
DELISTED
Wellcare Health Plans, Inc.
WCG
– –
-300,000
Closed -$21.1M
AET
70
DELISTED
Aetna Inc
AET
– –
-22,000
Closed -$1.51M
1 2
3

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RBA
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DAM
Davis Asset Management Sausalito, California $3.46B AUM 9.77% 1-Year Est. Return
PWP
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OTPPB
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JGC
J. Goldman & Co New York $3.44B AUM 33.8% 1-Year Est. Return
CIA
Caledonia Investments (Australia) Sydney NSW, Australia $3.44B AUM 20.03% 1-Year Est. Return
CCM
Check Capital Management Costa Mesa, California $3.44B AUM 9.15% 1-Year Est. Return

PAR Capital Management's Q1 2014 Portfolio in Review

As of Q1 2014, PAR Capital Management held 70 positions worth $3.31B, up 10% from $3.01B the previous quarter. Its ten largest holdings account for 56% of the portfolio.

PAR Capital Management's Q1 2014 filing shows 14 new, 22 increased, 9 reduced and 6 closed positions. Its largest new stake was Veeco: 985,465 shares worth $41.3M. The largest sale was Booking.com, an estimated $188M.

By sector, the portfolio is most concentrated in Industrials at 33% of assets, up from 31% a quarter earlier, followed by Consumer Discretionary and Technology.

  • PAR Capital Management's largest Q1 2014 buy was Veeco: 985,465 shares worth $41.3M.
  • PAR Capital Management added most to Expedia Group in Q1 2014, an estimated $69.2M increase.
  • PAR Capital Management's biggest Q1 2014 reduction was Booking.com, cutting an estimated $188M.
  • PAR Capital Management fully exited Wellcare Health Plans, Inc. in Q1 2014, selling an estimated $21.1M.
  • PAR Capital Management's ten largest holdings make up 56% of its $3.31B portfolio in Q1 2014.
  • PAR Capital Management opened 14 new positions and closed 6 in Q1 2014.
  • PAR Capital Management's portfolio value rose 10% quarter-over-quarter to $3.31B.

Based on PAR Capital Management's 13F filing for Q1 2014, filed 15 May 2014.