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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
-1.49%
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
$4.74B
AUM Growth
+$321M
Cap. Flow
+$579M
Cap. Flow %
12.22%
Top 10 Hldgs %
61.03%
Holding
83
New
10
Increased
35
Reduced
11
Closed
3

Top Buys

Rank Stock Value
1
UAL icon
United Airlines
UAL
+$154M
2
DAL icon
Delta Air Lines
DAL
+$117M
3
BKNG icon
Booking.com
BKNG
+$58.7M
4
LUV icon
Southwest Airlines
LUV
+$57.6M
5
CLH icon
Clean Harbors
CLH
+$49.9M

Top Sells

Rank Stock Value
1
MLCO icon
Melco Resorts & Entertainment
MLCO
+$81.4M
2
AAL icon
American Airlines Group
AAL
+$78M
3
THC icon
Tenet Healthcare
THC
+$22.7M
4
MLI icon
Mueller Industries
MLI
+$11.1M
5
PENN icon
PENN Entertainment
PENN
+$9.14M

Sector Composition

Rank Sector Weight
1 Industrials 49.49%
2 Consumer Discretionary 28.52%
3 Real Estate 2.83%
4 Communication Services 2.68%
5 Financials 1.73%
Name Market Value Portfolio Weight Shares or Principal Change
in Stake 		Capital Flow
ICE icon
51
Intercontinental Exchange
ICE
$87.2B
$11.3M 0.24%
240,000
-15,000
-6% -$694K
IMBI
52
DELISTED
iMedia Brands, Inc. Class A Common Stock
IMBI
$11.1M 0.23%
424,290
– –
CSGP icon
53
CoStar Group
CSGP
$12.2B
$11.1M 0.23%
640,000
+100,000
+19% +$1.92M
ENSG icon
54
The Ensign Group
ENSG
$10.6B
$10.7M 0.22%
534,500
– –
APAM icon
55
Artisan Partners
APAM
$2.86B
$10.6M 0.22%
300,000
-160,000
-35% -$6.9M
APA icon
56
APA Corp
APA
$13B
$9.79M 0.21%
+250,000
New +$11.4M
FRC
57
DELISTED
First Republic Bank
FRC
$6.91M 0.15%
110,000
+10,000
+10% +$626K
NFX
58
DELISTED
Newfield Exploration
NFX
$6.66M 0.14%
202,500
– –
MODV
59
DELISTED
ModivCare
MODV
$6.54M 0.14%
150,066
– –
SF
60
Stifel
SF
$12.4B
$6.32M 0.13%
337,500
+67,500
+25% +$1.53M
GDEN
61
DELISTED
Golden Entertainment
GDEN
$5.95M 0.13%
658,457
– –
GRUB
62
DELISTED
Just Eat Takeaway.com N.V. American Depositary Shares
GRUB
$5.36M 0.11%
+110,000
New +$6.4M
VRTS icon
63
Virtus Investment Partners
VRTS
$1.12B
$5.33M 0.11%
53,000
+10,000
+23% +$1.15M
SGY
64
DELISTED
Stone Energy
SGY
$4.96M 0.1%
17,600
+1,760
+11% +$671K
STT icon
65
State Street
STT
$48.4B
$4.77M 0.1%
71,000
+13,300
+23% +$990K
CSBR icon
66
Champions Oncology
CSBR
$75.9M
$4.46M 0.09%
+833,333
New +$5.44M
FCX icon
67
Freeport-McMoran
FCX
$86.2B
$4.12M 0.09%
425,000
+185,000
+77% +$2.22M
MLCO icon
68
Melco Resorts & Entertainment
MLCO
$2.21B
$4.07M 0.09%
295,400
-4,228,119
-93% -$81.4M
WP
69
DELISTED
Worldpay, Inc.
WP
$4.04M 0.09%
90,000
– –
QTWO icon
70
Q2 Holdings
QTWO
$3.78B
$3.83M 0.08%
155,000
+30,000
+24% +$830K
ITG
71
DELISTED
Investment Technology Group Inc
ITG
$3.67M 0.08%
+275,000
New +$5.1M
RMGN
72
DELISTED
RMG Networks Holding Corporation
RMGN
$2.87M 0.06%
853,019
-43,804
-5% -$160K
ANGI icon
73
Angi Inc
ANGI
$247M
$2.78M 0.06%
55,100
– –
PFSI icon
74
PennyMac Financial
PFSI
$4.47B
$2.72M 0.06%
+170,000
New +$2.95M
CMA
75
DELISTED
Comerica
CMA
$2.67M 0.06%
+65,000
New +$2.96M
1 2
3
4

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PAR Capital Management's Q3 2015 Portfolio in Review

As of Q3 2015, PAR Capital Management held 83 positions worth $4.74B, up 7.3% from $4.42B the previous quarter. Its ten largest holdings account for 61% of the portfolio.

PAR Capital Management deployed $579M of net new capital in Q3 2015, opening 10 new positions and adding to 35 existing holdings. Its largest new stake was Trip.com Group: 910,000 shares worth $28.7M.

By sector, the portfolio is most concentrated in Industrials at 49% of assets, up from 43% a quarter earlier, followed by Consumer Discretionary and Real Estate.

On the sell side, the largest reduction was Melco Resorts & Entertainment, an estimated $81.4M trimmed.

  • PAR Capital Management's largest Q3 2015 buy was Trip.com Group: 910,000 shares worth $28.7M.
  • PAR Capital Management added most to United Airlines in Q3 2015, an estimated $154M increase.
  • PAR Capital Management's biggest Q3 2015 reduction was Melco Resorts & Entertainment, cutting an estimated $81.4M.
  • PAR Capital Management fully exited Tenet Healthcare in Q3 2015, selling an estimated $22.7M.
  • PAR Capital Management's ten largest holdings make up 61% of its $4.74B portfolio in Q3 2015.
  • PAR Capital Management opened 10 new positions and closed 3 in Q3 2015.
  • PAR Capital Management's portfolio value rose 7.3% quarter-over-quarter to $4.74B.

Based on PAR Capital Management's 13F filing for Q3 2015, filed 16 Nov 2015.