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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
+10.92%
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
$7.65B
AUM Growth
+$724M
Cap. Flow
+$162M
Cap. Flow %
2.12%
Top 10 Hldgs %
59.47%
Holding
88
New
4
Increased
27
Reduced
15
Closed
13

Top Buys

Rank Stock Value
1
MCK icon
McKesson
MCK
+$138M
2
CI icon
Cigna
CI
+$50M
3
AAL icon
American Airlines Group
AAL
+$29.1M
4
GLPI icon
Gaming and Leisure Properties
GLPI
+$25.9M
5
BYD icon
Boyd Gaming
BYD
+$22M

Top Sells

Rank Stock Value
1
CHDN icon
Churchill Downs
CHDN
+$88.7M
2
WYNN icon
Wynn Resorts
WYNN
+$28.6M
3
EXP icon
Eagle Materials
EXP
+$23.9M
4
DKS icon
Dick's Sporting Goods
DKS
+$19.9M
5
DAL icon
Delta Air Lines
DAL
+$18.2M

Sector Composition

Rank Sector Weight
1 Industrials 43.71%
2 Consumer Discretionary 26.63%
3 Healthcare 12.66%
4 Communication Services 3.76%
5 Real Estate 2.24%
Name Market Value Portfolio Weight Shares or Principal Change
in Stake 		Capital Flow
MODV
51
DELISTED
ModivCare
MODV
$19M 0.25%
500,000
+249,934
+100% +$10.1M
TUES
52
DELISTED
Tuesday Morning Corp
TUES
$18.9M 0.25%
3,504,155
+1,216,155
+53% +$6.54M
SF
53
Stifel
SF
$12.4B
$18.7M 0.24%
843,750
+56,250
+7% +$1.13M
DOOR
54
DELISTED
MASONITE INTERNATIONAL CORP
DOOR
$17.6M 0.23%
267,000
+20,000
+8% +$1.25M
SEMG
55
DELISTED
SEMGROUP CORPORATION
SEMG
$15.8M 0.21%
377,500
+50,000
+15% +$1.79M
BMCH
56
DELISTED
BMC Stock Holdings, Inc
BMCH
$15.7M 0.21%
805,000
+45,000
+6% +$816K
PGTI
57
DELISTED
PGT, Inc.
PGTI
$13.1M 0.17%
1,146,172
– –
ITG
58
DELISTED
Investment Technology Group Inc
ITG
$12.7M 0.17%
645,000
-5,000
-0.8% -$90.5K
ICE icon
59
Intercontinental Exchange
ICE
$87.2B
$12.7M 0.17%
225,000
+75,000
+50% +$4.15M
OLLI icon
60
Ollie's Bargain Outlet
OLLI
$4.31B
$10.9M 0.14%
384,265
-119,048
-24% -$3.44M
XHR
61
Xenia Hotels & Resorts
XHR
$2.01B
$9.21M 0.12%
474,211
– –
WBS icon
62
Webster Financial
WBS
$12.3B
$8.69M 0.11%
160,000
– –
TREE icon
63
LendingTree
TREE
$551M
$8.36M 0.11%
+82,469
New +$7.86M
PFSI icon
64
PennyMac Financial
PFSI
$4.47B
$7.44M 0.1%
447,000
-8,700
-2% -$148K
FRC
65
DELISTED
First Republic Bank
FRC
$7.37M 0.1%
80,000
– –
CMA
66
DELISTED
Comerica
CMA
$6.42M 0.08%
94,300
-81,100
-46% -$4.75M
QTWO icon
67
Q2 Holdings
QTWO
$3.78B
$4.76M 0.06%
165,000
– –
META icon
68
Meta Platforms (Facebook)
META
$1.49T
$4.6M 0.06%
+40,000
New +$4.91M
PNK
69
DELISTED
Pinnacle Entertainment Inc.
PNK
$4.54M 0.06%
313,428
– –
ETFC
70
DELISTED
E*Trade Financial Corporation
ETFC
$3.64M 0.05%
105,000
– –
RRTS
71
DELISTED
RoadRunner Transportation Systems, Inc.
RRTS
$3.43M 0.04%
13,200
– –
ZNGA
72
DELISTED
ZYNGA INC. CL A COMMON
ZNGA
$1.93M 0.03%
+750,000
New +$2.12M
TCOM icon
73
Trip.com Group
TCOM
$29B
$1.6M 0.02%
40,000
– –
DOV icon
74
Dover
DOV
$26.7B
$1.54M 0.02%
831,851
– –
WYNN icon
75
Wynn Resorts
WYNN
$10.3B
$865K 0.01%
10,000
-305,668
-97% -$28.6M
1 2
3
4

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DAM
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PWP
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OTPPB
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JGC
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CIA
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PAR Capital Management's Q4 2016 Portfolio in Review

As of Q4 2016, PAR Capital Management held 88 positions worth $7.65B, up 10% from $6.92B the previous quarter. Its ten largest holdings account for 59% of the portfolio.

PAR Capital Management's Q4 2016 filing shows 4 new, 27 increased, 15 reduced and 13 closed positions. Its largest new stake was trivago: 350,000 shares worth $20.6M. The largest sale was Churchill Downs, an estimated $88.7M.

By sector, the portfolio is most concentrated in Industrials at 44% of assets, up from 39% a quarter earlier, followed by Consumer Discretionary and Healthcare.

  • PAR Capital Management's largest Q4 2016 buy was trivago: 350,000 shares worth $20.6M.
  • PAR Capital Management added most to McKesson in Q4 2016, an estimated $138M increase.
  • PAR Capital Management's biggest Q4 2016 reduction was Churchill Downs, cutting an estimated $88.7M.
  • PAR Capital Management fully exited Dick's Sporting Goods in Q4 2016, selling an estimated $19.9M.
  • PAR Capital Management's ten largest holdings make up 59% of its $7.65B portfolio in Q4 2016.
  • PAR Capital Management opened 4 new positions and closed 13 in Q4 2016.
  • PAR Capital Management's portfolio value rose 10% quarter-over-quarter to $7.65B.

Based on PAR Capital Management's 13F filing for Q4 2016, filed 14 Feb 2017.