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PAR Capital Management Portfolio holdings

AUM $4.03B
1-Year Est. Return 35.05%
This Fund
S&P 500
This Quarter Est. Return
+8.67%
1 Year Est. Return
+35.05%
3 Year Est. Return
+138.5%
5 Year Est. Return
+113.35%
10 Year Est. Return
+497.77%
AUM
$8.95B
AUM Growth
+$145M
Cap. Flow
-$436M
Cap. Flow %
-4.87%
Top 10 Hldgs %
56.41%
Holding
92
New
9
Increased
18
Reduced
18
Closed
14

Top Buys

Rank Stock Value
1
CZR
Caesars Entertainment Corporation
CZR
+$76.1M
2
MCK icon
McKesson
MCK
+$59.3M
3
STMP
Stamps.com, Inc.
STMP
+$36.3M
4
TRIP icon
TripAdvisor
TRIP
+$22.4M
5
EXPE icon
Expedia Group
EXPE
+$20.8M

Top Sells

Rank Stock Value
1
UAL icon
United Airlines
UAL
+$282M
2
CI icon
Cigna
CI
+$99.5M
3
BYD icon
Boyd Gaming
BYD
+$73.6M
4
GRUB
Just Eat Takeaway.com N.V. American Depositary Shares
GRUB
+$64.1M
5
LUV icon
Southwest Airlines
LUV
+$46M

Sector Composition

Rank Sector Weight
1 Industrials 42.31%
2 Consumer Discretionary 31.43%
3 Healthcare 12.1%
4 Communication Services 4.23%
5 Energy 2.43%
Name Market Value Portfolio Weight Shares or Principal Change
in Stake 		Capital Flow
BMCH
51
DELISTED
BMC Stock Holdings, Inc
BMCH
$24.4M 0.27%
965,200
-10,000
-1% -$224K
TVTY
52
DELISTED
Tivity Health, Inc. Common Stock
TVTY
$19.7M 0.22%
540,000
+200,000
+59% +$7.59M
SYF icon
53
Synchrony
SYF
$24.7B
$19.3M 0.22%
500,000
+200,000
+67% +$6.84M
GRPN icon
54
Groupon
GRPN
$762M
$17.2M 0.19%
168,510
– –
AAP icon
55
Advance Auto Parts
AAP
$2.62B
$16.4M 0.18%
165,000
+40,000
+32% +$3.68M
HOME
56
DELISTED
At Home Group Inc.
HOME
$13.7M 0.15%
+450,000
New +$10.9M
PFSI icon
57
PennyMac Financial
PFSI
$3.54B
$12.7M 0.14%
570,000
+20,000
+4% +$394K
TUES
58
DELISTED
Tuesday Morning Corp
TUES
$12.3M 0.14%
4,468,600
+30,400
+0.7% +$85.7K
WBS
59
DELISTED
Webster Financial
WBS
$11.8M 0.13%
210,100
– –
SWN
60
DELISTED
Southwestern Energy Company
SWN
$11.7M 0.13%
+2,100,000
New +$12.2M
SEM
61
DELISTED
Select Medical
SEM
$10.9M 0.12%
1,145,538
– –
CVNA icon
62
Carvana
CVNA
$48.2B
$9.67M 0.11%
2,528,485
+473,485
+23% +$1.57M
RAD
63
DELISTED
Rite Aid Corporation
RAD
$8.87M 0.1%
225,000
-225,000
-50% -$8.04M
EHTH icon
64
eHealth
EHTH
$28.5M
$8.7M 0.1%
500,858
+50,000
+11% +$1.12M
ARLZ
65
DELISTED
Aralez Pharmaceuticals Inc.
ARLZ
$8.44M 0.09%
5,942,309
-457,691
-7% -$751K
META icon
66
Meta Platforms (Facebook)
META
$1.71T
$7.06M 0.08%
40,000
– –
TRVG
67
trivago
TRVG
$412M
$5.13M 0.06%
150,000
-450,000
-75% -$18.4M
COR icon
68
Cencora
COR
$61.7B
$4.59M 0.05%
+50,000
New +$4.14M
DKS icon
69
Dick's Sporting Goods
DKS
$11B
$4.31M 0.05%
150,000
– –
VLRS
70
Controladora Vuela Compania de Aviacion
VLRS
$728M
$3.39M 0.04%
+423,100
New +$4.2M
MMYT icon
71
MakeMyTrip
MMYT
$4.51B
$3.02M 0.03%
+101,200
New +$2.8M
TSG
72
DELISTED
The Stars Group Inc.
TSG
$2.82M 0.03%
+121,089
New +$2.64M
CIVI
73
DELISTED
Civitas Resources
CIVI
$2.76M 0.03%
100,000
-336,900
-77% -$10.6M
LNW
74
DELISTED
Light & Wonder
LNW
$2.56M 0.03%
+50,000
New +$2.44M
TREE icon
75
LendingTree
TREE
$376M
$1.84M 0.02%
+5,400
New +$1.53M
1 2
3
4

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KRS
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PWP
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HA
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PAR Capital Management's Q4 2017 Portfolio in Review

As of Q4 2017, PAR Capital Management held 92 positions worth $8.95B, up 1.6% from $8.8B the previous quarter. Its ten largest holdings account for 56% of the portfolio.

PAR Capital Management withdrew a net $436M in Q4 2017, closing 14 positions and reducing 18 holdings. Its most notable exit was ModivCare, an estimated $18.9M position sold in full.

By sector, the portfolio is most concentrated in Industrials at 42% of assets, down from 43% a quarter earlier, followed by Consumer Discretionary and Healthcare.

Against the trend, PAR Capital Management opened a new position in Caesars Entertainment Corporation worth $75.9M.

  • PAR Capital Management's largest Q4 2017 buy was Caesars Entertainment Corporation: 6,000,000 shares worth $75.9M.
  • PAR Capital Management added most to McKesson in Q4 2017, an estimated $59.3M increase.
  • PAR Capital Management's biggest Q4 2017 reduction was United Airlines, cutting an estimated $282M.
  • PAR Capital Management fully exited ModivCare in Q4 2017, selling an estimated $18.9M.
  • PAR Capital Management's ten largest holdings make up 56% of its $8.95B portfolio in Q4 2017.
  • PAR Capital Management opened 9 new positions and closed 14 in Q4 2017.
  • PAR Capital Management's portfolio value rose 1.6% quarter-over-quarter to $8.95B.

Based on PAR Capital Management's 13F filing for Q4 2017, filed 14 Feb 2018.