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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
+5.79%
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
$5.39B
AUM Growth
-$591M
Cap. Flow
-$820M
Cap. Flow %
-15.22%
Top 10 Hldgs %
77.22%
Holding
64
New
5
Increased
13
Reduced
15
Closed
15

Top Buys

Rank Stock Value
1
DVA icon
DaVita
DVA
+$45.4M
2
BALY icon
Bally's
BALY
+$42.9M
3
ALK icon
Alaska Air
ALK
+$42.7M
4
SKYW icon
Skywest
SKYW
+$23.5M
5
GRPN icon
Groupon
GRPN
+$17.7M

Top Sells

Rank Stock Value
1
LUV icon
Southwest Airlines
LUV
+$226M
2
BYD icon
Boyd Gaming
BYD
+$98.9M
3
BKNG icon
Booking.com
BKNG
+$97.3M
4
SGI
Somnigroup International
SGI
+$93.8M
5
BRSL
Brightstar Lottery PLC
BRSL
+$83.6M

Sector Composition

Rank Sector Weight
1 Industrials 46.85%
2 Consumer Discretionary 33.32%
3 Communication Services 7.67%
4 Financials 4.02%
5 Healthcare 3.55%
Name Market Value Portfolio Weight Shares or Principal Change
in Stake 		Capital Flow
IVV icon
51
iShares Core S&P 500 ETF
IVV
$872B
– –
-151,000
Closed -$38M
LUV icon
52
Southwest Airlines
LUV
$22.3B
– –
-4,867,800
Closed -$226M
MGM icon
53
MGM Resorts International
MGM
$11.7B
– –
-600,000
Closed -$14.6M
MLCO icon
54
Melco Resorts & Entertainment
MLCO
$2.24B
– –
-50,000
Closed -$881K
OC icon
55
Owens Corning
OC
$11.2B
– –
-1,602,144
Closed -$70.5M
WMB icon
56
Williams Companies
WMB
$86.7B
– –
-1,757,798
Closed -$38.8M
WMS icon
57
Advanced Drainage Systems
WMS
$10.5B
– –
-2,737,000
Closed -$66.4M
WYNN icon
58
Wynn Resorts
WYNN
$10.5B
– –
-155,000
Closed -$15.3M
SWN
59
DELISTED
Southwestern Energy Company
SWN
– –
-599,800
Closed -$2.04M
CONN
60
DELISTED
Conn's Inc.
CONN
– –
-2,967,920
Closed -$56M
STAY
61
DELISTED
Extended Stay America, Inc. Paired Share Unit
STAY
– –
-159,500
Closed -$2.47M
TUES
62
DELISTED
Tuesday Morning Corp
TUES
– –
-3,614,118
Closed -$6.14M
DDE
63
DELISTED
Dover Downs Gaming & Entertain
DDE
– –
-915,000
Closed -$2.54M
STMP
64
DELISTED
Stamps.com, Inc.
STMP
– –
-65,717
Closed -$10.2M
1 2
3

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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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PAR Capital Management's Q1 2019 Portfolio in Review

As of Q1 2019, PAR Capital Management held 64 positions worth $5.39B, down 9.9% from $5.98B the previous quarter. Its ten largest holdings account for 77% of the portfolio.

PAR Capital Management withdrew a net $820M in Q1 2019, closing 15 positions and reducing 15 holdings. Its most notable exit was Southwest Airlines, an estimated $226M position sold in full.

By sector, the portfolio is most concentrated in Industrials at 47% of assets, up from 47% a quarter earlier, followed by Consumer Discretionary and Communication Services.

Against the trend, PAR Capital Management opened a new position in Bally's worth $42.9M.

  • PAR Capital Management's largest Q1 2019 buy was Bally's: 1,432,258 shares worth $42.9M.
  • PAR Capital Management added most to DaVita in Q1 2019, an estimated $45.4M increase.
  • PAR Capital Management's biggest Q1 2019 reduction was Boyd Gaming, cutting an estimated $98.9M.
  • PAR Capital Management fully exited Southwest Airlines in Q1 2019, selling an estimated $226M.
  • PAR Capital Management's ten largest holdings make up 77% of its $5.39B portfolio in Q1 2019.
  • PAR Capital Management opened 5 new positions and closed 15 in Q1 2019.
  • PAR Capital Management's portfolio value fell 9.9% quarter-over-quarter to $5.39B.

Based on PAR Capital Management's 13F filing for Q1 2019, filed 15 May 2019.