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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
+28.34%
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
$2.61B
AUM Growth
+$250M
Cap. Flow
-$301M
Cap. Flow %
-11.56%
Top 10 Hldgs %
71.8%
Holding
57
New
6
Increased
10
Reduced
17
Closed
11

Top Buys

Rank Stock Value
1
LUV icon
Southwest Airlines
LUV
+$80M
2
SABR icon
Sabre
SABR
+$33M
3
SYF icon
Synchrony
SYF
+$29.2M
4
AAL icon
American Airlines Group
AAL
+$18.8M
5
PENN icon
PENN Entertainment
PENN
+$9.73M

Top Sells

Rank Stock Value
1
DVA icon
DaVita
DVA
+$161M
2
EXPE icon
Expedia Group
EXPE
+$111M
3
JBLU icon
JetBlue
JBLU
+$44.1M
4
ALK icon
Alaska Air
ALK
+$29.8M
5
ALGT icon
Allegiant Air
ALGT
+$29.1M

Sector Composition

Rank Sector Weight
1 Consumer Discretionary 42.21%
2 Industrials 27.19%
3 Financials 11.77%
4 Technology 6.53%
5 Healthcare 6.35%
Name Market Value Portfolio Weight Shares or Principal Change
in Stake 		Capital Flow
RHP icon
51
Ryman Hospitality Properties
RHP
$8.43B
– –
-129,512
Closed -$4.64M
SEIC icon
52
SEI Investments
SEIC
$12.4B
– –
-15,965
Closed -$740K
SEM
53
DELISTED
Select Medical
SEM
– –
-1,053,666
Closed -$8.52M
UAL icon
54
PUT
United Airlines
UAL
$39.4B
– –
-135
Closed -$426K
GSKY
55
DELISTED
GreenSky, Inc. Class A Common Stock
GSKY
– –
-349,000
Closed -$1.33M
HTZ
56
CALL
DELISTED
Hertz Global Holdings, Inc.
HTZ
– –
-7,000
Closed -$4.33M
1 2
3

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OTPPB
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PAR Capital Management's Q2 2020 Portfolio in Review

As of Q2 2020, PAR Capital Management held 57 positions worth $2.61B, up 11% from $2.36B the previous quarter. Its ten largest holdings account for 72% of the portfolio.

PAR Capital Management withdrew a net $301M in Q2 2020, closing 11 positions and reducing 17 holdings. Its most notable exit was Select Medical, an estimated $8.52M position sold in full.

By sector, the portfolio is most concentrated in Consumer Discretionary at 42% of assets, up from 39% a quarter earlier, followed by Industrials and Financials.

Against the trend, PAR Capital Management opened a new position in Sabre worth $37.5M.

  • PAR Capital Management's largest Q2 2020 buy was Sabre: 4,656,406 shares worth $37.5M.
  • PAR Capital Management added most to Southwest Airlines in Q2 2020, an estimated $80M increase.
  • PAR Capital Management's biggest Q2 2020 reduction was DaVita, cutting an estimated $161M.
  • PAR Capital Management fully exited Select Medical in Q2 2020, selling an estimated $8.52M.
  • PAR Capital Management's ten largest holdings make up 72% of its $2.61B portfolio in Q2 2020.
  • PAR Capital Management opened 6 new positions and closed 11 in Q2 2020.
  • PAR Capital Management's portfolio value rose 11% quarter-over-quarter to $2.61B.

Based on PAR Capital Management's 13F filing for Q2 2020, filed 14 Aug 2020.