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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
+15.89%
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
$4.33B
AUM Growth
+$582M
(+16%)
Cap. Flow
+$187M
Cap. Flow
% of AUM
4.32%
Top 10 Holdings %
Top 10 Hldgs %
58.11%
Holding
83
New
14
Increased
27
Reduced
9
Closed
13
Top Buys
| Rank | Stock | Value |
|---|---|---|
| 1 |
Delta Air Lines
DAL
|
+$159M |
| 2 |
VA
Virgin America Inc.
VA
|
+$81.8M |
| 3 |
QUNR
Qunar Cayman Islands Limited
QUNR
|
+$65.2M |
| 4 |
United Airlines
UAL
|
+$55.7M |
| 5 |
American Airlines Group
AAL
|
+$50.6M |
Top Sells
| Rank | Stock | Value |
|---|---|---|
| 1 |
Booking.com
BKNG
|
+$134M |
| 2 |
BYI
BALLY TECHNOLOGIES, INC.
BYI
|
+$76.8M |
| 3 |
Acuity Brands
AYI
|
+$35.5M |
| 4 |
Veeco
VECO
|
+$32.7M |
| 5 |
Salesforce
CRM
|
+$25.7M |
Sector Composition
| Rank | Sector | Weight |
|---|---|---|
| 1 | Industrials | 46.2% |
| 2 | Consumer Discretionary | 29.83% |
| 3 | Real Estate | 2.85% |
| 4 | Financials | 1.94% |
| 5 | Communication Services | 1.9% |
| Name | Market Value | Portfolio Weight | Shares or Principal |
Change in Stake | Capital Flow | |
|---|---|---|---|---|---|---|
51
Las Vegas Sands
LVS
$32.2B
| $8.72M | 0.2% |
150,000
-120,000
| -44% | -$7.23M |
|
|
VLRS
52
Controladora Vuela Compania de Aviacion
VLRS
$869M
| $7.84M | 0.18% |
868,808
+265,438
| +44% | +$2.15M |
|
|
ISLE
53
DELISTED
Isle of Capri Casinos Inc
ISLE
| $7.83M | 0.18% |
934,839
| – | – |
|
|
SF
54
Stifel
SF
$12.4B
| $5.1M | 0.12% |
+225,000
| New | +$4.76M |
|
55
WEX
WEX
$6.42B
| $4.75M | 0.11% |
+48,000
| New | +$5.11M |
|
|
GDEN
56
DELISTED
Golden Entertainment
GDEN
| $4.43M | 0.1% |
+658,457
| New | +$4.89M |
|
|
FRC
57
DELISTED
First Republic Bank
FRC
| $3.96M | 0.09% |
76,000
+6,000
| +9% | +$302K |
|
58
State Street
STT
$48.4B
| $3.92M | 0.09% |
+50,000
| New | +$3.75M |
|
|
TRUE
59
DELISTED
TrueCar
TRUE
| $3.92M | 0.09% |
+170,951
| New | +$3.35M |
|
|
BHR
60
Braemar Hotels & Resorts
BHR
$163M
| $3.88M | 0.09% |
228,521
| – | – |
|
|
CIVI
61
DELISTED
Civitas Solutions, Inc.
CIVI
| $3.84M | 0.09% |
+225,500
| New | +$3.56M |
|
|
FNCX
62
DELISTED
Function(x) Inc.
FNCX
| $3.63M | 0.08% |
68,750
| – | – |
|
63
Virtus Investment Partners
VRTS
$1.12B
| $3.41M | 0.08% |
20,000
-50,000
| -71% | -$8.36M |
|
|
NFX
64
DELISTED
Newfield Exploration
NFX
| $2.71M | 0.06% |
+100,000
| New | +$2.97M |
|
|
MODV
65
DELISTED
ModivCare
MODV
| $2.53M | 0.06% |
+69,400
| New | +$2.72M |
|
|
CIVI
66
DELISTED
Civitas Resources
CIVI
| $2.23M | 0.05% |
+832
| New | +$3.22M |
|
|
DVD
67
DELISTED
Dover Motorsports
DVD
| $1.75M | 0.04% |
671,931
| – | – |
|
|
RMGN
68
DELISTED
RMG Networks Holding Corporation
RMGN
| $1.39M | 0.03% |
278,073
| – | – |
|
69
JPMorgan Chase
JPM
$916B
| $1.25M | 0.03% |
20,000
-60,000
| -75% | -$3.61M |
|
|
WP
70
DELISTED
Worldpay, Inc.
WP
| $1.19M | 0.03% |
+35,000
| New | +$1.13M |
|
|
71
Acuity Brands
AYI
$9.99B
| – | – |
-301,783
| Closed | -$35.5M |
|
|
72
Salesforce
CRM
$154B
| – | – |
-446,000
| Closed | -$25.7M |
|
73
Herc Holdings
HRI
$4.78B
| – | – |
-33,333
| Closed | -$2.54M |
|
74
KLA
KLAC
$222B
| – | – |
-810,000
| Closed | -$6.38M |
|
|
75
CALL
Las Vegas Sands
LVS
$32.2B
| – | – |
-150,000
| Closed | -$9.33M |
|
Similar funds
LNC
RBA
DAM
PWP
OTPPB
JGC
CIA
CCM
PAR Capital Management's Q4 2014 Portfolio in Review
As of Q4 2014, PAR Capital Management held 83 positions worth $4.33B, up 16% from $3.75B the previous quarter. Its ten largest holdings account for 58% of the portfolio.
PAR Capital Management deployed $187M of net new capital in Q4 2014, opening 14 new positions and adding to 27 existing holdings. Its largest new stake was Virgin America Inc.: 2,264,492 shares worth $93M.
By sector, the portfolio is most concentrated in Industrials at 46% of assets, up from 36% a quarter earlier, followed by Consumer Discretionary and Real Estate.
On the sell side, the largest reduction was Booking.com, an estimated $134M trimmed.
- PAR Capital Management's largest Q4 2014 buy was Virgin America Inc.: 2,264,492 shares worth $93M.
- PAR Capital Management added most to Delta Air Lines in Q4 2014, an estimated $159M increase.
- PAR Capital Management's biggest Q4 2014 reduction was Booking.com, cutting an estimated $134M.
- PAR Capital Management fully exited BALLY TECHNOLOGIES, INC. in Q4 2014, selling an estimated $76.8M.
- PAR Capital Management's ten largest holdings make up 58% of its $4.33B portfolio in Q4 2014.
- PAR Capital Management opened 14 new positions and closed 13 in Q4 2014.
- PAR Capital Management's portfolio value rose 16% quarter-over-quarter to $4.33B.
Based on PAR Capital Management's 13F filing for Q4 2014, filed 17 Feb 2015.