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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
+5.58%
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
$8.89B
AUM Growth
-$218M
Cap. Flow
-$539M
Cap. Flow %
-6.06%
Top 10 Hldgs %
53.9%
Holding
84
New
2
Increased
30
Reduced
19
Closed
2

Top Buys

Rank Stock Value
1
BRSL
Brightstar Lottery PLC
BRSL
+$65.8M
2
DVA icon
DaVita
DVA
+$30.9M
3
TRVG
trivago
TRVG
+$26.3M
4
META icon
Meta Platforms (Facebook)
META
+$17.3M
5
TRUE
TrueCar
TRUE
+$16.2M

Top Sells

Rank Stock Value
1
CAR icon
Avis
CAR
+$262M
2
GRUB
Just Eat Takeaway.com N.V. American Depositary Shares
GRUB
+$221M
3
CZR icon
Caesars Entertainment
CZR
+$84.7M
4
GLPI icon
Gaming and Leisure Properties
GLPI
+$55.7M
5
CHGG icon
Chegg
CHGG
+$40.7M

Sector Composition

Rank Sector Weight
1 Industrials 36.08%
2 Consumer Discretionary 32.63%
3 Healthcare 8.92%
4 Communication Services 7.39%
5 Energy 3.8%
Name Market Value Portfolio Weight Shares or Principal Change
in Stake 		Capital Flow
CIVI
51
DELISTED
Civitas Resources
CIVI
$28.5M 0.32%
753,000
– –
TRVG
52
trivago
TRVG
$385M
$27.7M 0.31%
1,221,000
+993,805
+437% +$26.3M
ORLY icon
53
O'Reilly Automotive
ORLY
$75.1B
$27.4M 0.31%
1,500,000
-150,000
-9% -$2.61M
CSX icon
54
CSX Corp
CSX
$94B
$24.7M 0.28%
1,164,000
-81,000
-7% -$1.67M
AAP icon
55
Advance Auto Parts
AAP
$3.53B
$24.4M 0.27%
180,000
+15,000
+9% +$1.82M
GRPN icon
56
Groupon
GRPN
$1.03B
$20.9M 0.24%
243,510
– –
SEMG
57
DELISTED
SEMGROUP CORPORATION
SEMG
$19.4M 0.22%
762,779
-377,500
-33% -$9.25M
EHTH icon
58
eHealth
EHTH
$41.9M
$18M 0.2%
813,856
– –
WYNN icon
59
Wynn Resorts
WYNN
$10.3B
$16.7M 0.19%
100,000
-10,000
-9% -$1.85M
BMCH
60
DELISTED
BMC Stock Holdings, Inc
BMCH
$16.2M 0.18%
775,200
-10,000
-1% -$198K
CVNA icon
61
Carvana
CVNA
$47.5B
$15.3M 0.17%
1,834,175
-1,527,640
-45% -$9.2M
TUES
62
DELISTED
Tuesday Morning Corp
TUES
$13.9M 0.16%
4,568,600
+100,000
+2% +$323K
WBS icon
63
Webster Financial
WBS
$12.3B
$13.4M 0.15%
210,100
– –
PFSI icon
64
PennyMac Financial
PFSI
$4.47B
$13.3M 0.15%
677,800
+107,800
+19% +$2.25M
SWN
65
DELISTED
Southwestern Energy Company
SWN
$12.7M 0.14%
2,400,000
– –
ANGI icon
66
Angi Inc
ANGI
$247M
$12.3M 0.14%
80,204
– –
SEM
67
DELISTED
Select Medical
SEM
$11.2M 0.13%
1,145,909
+371
+0% +$3.64K
PAGP icon
68
Plains GP Holdings
PAGP
$5.28B
$8.37M 0.09%
350,000
+250,000
+250% +$6.12M
TREE icon
69
LendingTree
TREE
$551M
$5.64M 0.06%
26,400
– –
CAR icon
70
Avis
CAR
$5.47B
$5.33M 0.06%
164,000
-6,017,608
-97% -$262M
DKS icon
71
Dick's Sporting Goods
DKS
$18.4B
$5.29M 0.06%
150,000
– –
GWR
72
DELISTED
Genesee & Wyoming Inc.
GWR
$4.88M 0.05%
60,000
+10,000
+20% +$759K
COR icon
73
Cencora
COR
$62B
$4.26M 0.05%
50,000
– –
MLCO icon
74
Melco Resorts & Entertainment
MLCO
$2.21B
$4.2M 0.05%
150,000
+50,000
+50% +$1.53M
DESP
75
DELISTED
Despegar.com
DESP
$3.85M 0.04%
+183,526
New +$4.73M
1 2
3
4

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RBA
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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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CCM
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PAR Capital Management's Q2 2018 Portfolio in Review

As of Q2 2018, PAR Capital Management held 84 positions worth $8.89B, down 2.4% from $9.11B the previous quarter. Its ten largest holdings account for 54% of the portfolio.

PAR Capital Management withdrew a net $539M in Q2 2018, closing 2 positions and reducing 19 holdings. Its most notable exit was Surgery Partners, an estimated $2.37M position sold in full.

By sector, the portfolio is most concentrated in Industrials at 36% of assets, down from 42% a quarter earlier, followed by Consumer Discretionary and Healthcare.

Against the trend, PAR Capital Management opened a new position in Despegar.com worth $3.85M.

  • PAR Capital Management's largest Q2 2018 buy was Despegar.com: 183,526 shares worth $3.85M.
  • PAR Capital Management added most to Brightstar Lottery PLC in Q2 2018, an estimated $65.8M increase.
  • PAR Capital Management's biggest Q2 2018 reduction was Avis, cutting an estimated $262M.
  • PAR Capital Management fully exited Surgery Partners in Q2 2018, selling an estimated $2.37M.
  • PAR Capital Management's ten largest holdings make up 54% of its $8.89B portfolio in Q2 2018.
  • PAR Capital Management opened 2 new positions and closed 2 in Q2 2018.
  • PAR Capital Management's portfolio value fell 2.4% quarter-over-quarter to $8.89B.

Based on PAR Capital Management's 13F filing for Q2 2018, filed 14 Aug 2018.