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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
+8.12%
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
$8.71B
AUM Growth
-$177M
(-2%)
Cap. Flow
-$722M
Cap. Flow
% of AUM
-8.29%
Top 10 Holdings %
Top 10 Hldgs %
57.58%
Holding
88
New
6
Increased
22
Reduced
15
Closed
11
Top Buys
| Rank | Stock | Value |
|---|---|---|
| 1 |
Allegiant Air
ALGT
|
+$211M |
| 2 |
Trip.com Group
TCOM
|
+$204M |
| 3 |
TRVG
trivago
TRVG
|
+$32.7M |
| 4 |
BRSL
Brightstar Lottery PLC
BRSL
|
+$24.4M |
| 5 |
Yelp
YELP
|
+$21.8M |
Top Sells
| Rank | Stock | Value |
|---|---|---|
| 1 |
GRUB
Just Eat Takeaway.com N.V. American Depositary Shares
GRUB
|
+$297M |
| 2 |
Zillow
Z
|
+$229M |
| 3 |
Chegg
CHGG
|
+$128M |
| 4 |
McKesson
MCK
|
+$114M |
| 5 |
Zillow
ZG
|
+$101M |
Sector Composition
| Rank | Sector | Weight |
|---|---|---|
| 1 | Industrials | 39.76% |
| 2 | Consumer Discretionary | 35.47% |
| 3 | Healthcare | 7.26% |
| 4 | Communication Services | 4.54% |
| 5 | Energy | 3.57% |
| Name | Market Value | Portfolio Weight | Shares or Principal |
Change in Stake | Capital Flow | |
|---|---|---|---|---|---|---|
51
Carvana
CVNA
$47.5B
| $20.5M | 0.23% |
1,730,815
-103,360
| -6% | -$1.11M |
|
52
eHealth
EHTH
$41.9M
| $20.1M | 0.23% |
711,517
-102,339
| -13% | -$2.72M |
|
53
Elevance Health
ELV
$81.5B
| $19.2M | 0.22% |
+70,000
| New | +$18.2M |
|
54
Angi Inc
ANGI
$247M
| $18.8M | 0.22% |
80,204
| – | – |
|
|
SEMG
55
DELISTED
SEMGROUP CORPORATION
SEMG
| $16.8M | 0.19% |
762,779
| – | – |
|
|
TVTY
56
DELISTED
Tivity Health, Inc. Common Stock
TVTY
| $15.3M | 0.18% |
477,042
-474,641
| -50% | -$16.2M |
|
57
PennyMac Financial
PFSI
$4.47B
| $14.6M | 0.17% |
700,000
+22,200
| +3% | +$460K |
|
|
TUES
58
DELISTED
Tuesday Morning Corp
TUES
| $14.6M | 0.17% |
4,568,600
| – | – |
|
59
Cigna
CI
$78.4B
| $14.6M | 0.17% |
+70,000
| New | +$13M |
|
60
Webster Financial
WBS
$12.3B
| $12.4M | 0.14% |
210,100
| – | – |
|
|
SEM
61
DELISTED
Select Medical
SEM
| $11.4M | 0.13% |
1,145,909
| – | – |
|
|
STAY
62
DELISTED
Extended Stay America, Inc. Paired Share Unit
STAY
| $9.61M | 0.11% |
+475,000
| New | +$9.89M |
|
63
Avis
CAR
$5.47B
| $6.56M | 0.08% |
204,000
+40,000
| +24% | +$1.33M |
|
|
BMCH
64
DELISTED
BMC Stock Holdings, Inc
BMCH
| $6.42M | 0.07% |
344,000
-431,200
| -56% | -$9.35M |
|
65
LendingTree
TREE
$551M
| $6.08M | 0.07% |
26,400
| – | – |
|
66
Melco Resorts & Entertainment
MLCO
$2.21B
| $5.82M | 0.07% |
275,000
+125,000
| +83% | +$2.9M |
|
|
SWN
67
DELISTED
Southwestern Energy Company
SWN
| $5.62M | 0.06% |
1,100,000
-1,300,000
| -54% | -$6.89M |
|
|
GWR
68
DELISTED
Genesee & Wyoming Inc.
GWR
| $5.46M | 0.06% |
60,000
| – | – |
|
|
VLRS
69
Controladora Vuela Compania de Aviacion
VLRS
$869M
| $5.44M | 0.06% |
729,600
+25,000
| +4% | +$179K |
|
70
Dick's Sporting Goods
DKS
$18.4B
| $5.32M | 0.06% |
150,000
| – | – |
|
71
Cencora
COR
$62B
| $4.61M | 0.05% |
50,000
| – | – |
|
|
DESP
72
DELISTED
Despegar.com
DESP
| $3.1M | 0.04% |
183,526
| – | – |
|
73
MakeMyTrip
MMYT
$5.38B
| $2.78M | 0.03% |
101,200
| – | – |
|
|
DDE
74
DELISTED
Dover Downs Gaming & Entertain
DDE
| $2.6M | 0.03% |
+915,000
| New | +$2.58M |
|
75
QuinStreet
QNST
$927M
| $2.44M | 0.03% |
180,000
| – | – |
|
Similar funds
LNC
RBA
DAM
PWP
OTPPB
JGC
CIA
CCM
PAR Capital Management's Q3 2018 Portfolio in Review
As of Q3 2018, PAR Capital Management held 88 positions worth $8.71B, down 2% from $8.89B the previous quarter. Its ten largest holdings account for 58% of the portfolio.
PAR Capital Management withdrew a net $722M in Q3 2018, closing 11 positions and reducing 15 holdings. Its most notable exit was Just Eat Takeaway.com N.V. American Depositary Shares, an estimated $297M position sold in full.
By sector, the portfolio is most concentrated in Industrials at 40% of assets, up from 36% a quarter earlier, followed by Consumer Discretionary and Healthcare.
Against the trend, PAR Capital Management opened a new position in Allegiant Air worth $201M.
- PAR Capital Management's largest Q3 2018 buy was Allegiant Air: 1,583,000 shares worth $201M.
- PAR Capital Management added most to Trip.com Group in Q3 2018, an estimated $204M increase.
- PAR Capital Management's biggest Q3 2018 reduction was McKesson, cutting an estimated $114M.
- PAR Capital Management fully exited Just Eat Takeaway.com N.V. American Depositary Shares in Q3 2018, selling an estimated $297M.
- PAR Capital Management's ten largest holdings make up 58% of its $8.71B portfolio in Q3 2018.
- PAR Capital Management opened 6 new positions and closed 11 in Q3 2018.
- PAR Capital Management's portfolio value fell 2% quarter-over-quarter to $8.71B.
Based on PAR Capital Management's 13F filing for Q3 2018, filed 14 Nov 2018.