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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
+5.29%
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
$4.34B
AUM Growth
+$6.07M
Cap. Flow
-$153M
Cap. Flow %
-3.53%
Top 10 Hldgs %
56.61%
Holding
77
New
7
Increased
28
Reduced
14
Closed
7

Top Buys

Rank Stock Value
1
CPA icon
Copa Holdings
CPA
+$107M
2
HRI icon
Herc Holdings
HRI
+$45.7M
3
THC icon
Tenet Healthcare
THC
+$41.7M
4
EXPE icon
Expedia Group
EXPE
+$18.2M
5
URI icon
United Rentals
URI
+$12.2M

Top Sells

Rank Stock Value
1
OWW
ORBITZ WORLDWIDE, INC
OWW
+$136M
2
LUV icon
Southwest Airlines
LUV
+$119M
3
SAVE
Spirit Airlines, Inc.
SAVE
+$57.6M
4
ALGT icon
Allegiant Air
ALGT
+$34.9M
5
MGLN
Magellan Health Services, Inc.
MGLN
+$24.2M

Sector Composition

Rank Sector Weight
1 Industrials 44.44%
2 Consumer Discretionary 28.08%
3 Real Estate 3.56%
4 Communication Services 2.86%
5 Financials 1.91%
Name Market Value Portfolio Weight Shares or Principal Change
in Stake 		Capital Flow
CIVI
76
DELISTED
Civitas Solutions, Inc.
CIVI
– –
-225,500
Closed -$3.84M
OWW
77
DELISTED
ORBITZ WORLDWIDE, INC
OWW
– –
-16,500,000
Closed -$136M
1 2 3
4

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DAM
Davis Asset Management Sausalito, California $3.46B AUM 9.77% 1-Year Est. Return
PWP
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OTPPB
Ontario Teachers' Pension Plan Board Toronto, Ontario, Canada $3.46B AUM 7.79% 1-Year Est. Return
JGC
J. Goldman & Co New York $3.44B AUM 33.8% 1-Year Est. Return
CIA
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CCM
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PAR Capital Management's Q1 2015 Portfolio in Review

As of Q1 2015, PAR Capital Management held 77 positions worth $4.34B, up 0.14% from $4.33B the previous quarter. Its ten largest holdings account for 57% of the portfolio.

PAR Capital Management withdrew a net $153M in Q1 2015, closing 7 positions and reducing 14 holdings. Its most notable exit was ORBITZ WORLDWIDE, INC, an estimated $136M position sold in full.

By sector, the portfolio is most concentrated in Industrials at 44% of assets, down from 46% a quarter earlier, followed by Consumer Discretionary and Real Estate.

Against the trend, PAR Capital Management opened a new position in Herc Holdings worth $44.5M.

  • PAR Capital Management's largest Q1 2015 buy was Herc Holdings: 683,733 shares worth $44.5M.
  • PAR Capital Management added most to Copa Holdings in Q1 2015, an estimated $107M increase.
  • PAR Capital Management's biggest Q1 2015 reduction was Southwest Airlines, cutting an estimated $119M.
  • PAR Capital Management fully exited ORBITZ WORLDWIDE, INC in Q1 2015, selling an estimated $136M.
  • PAR Capital Management's ten largest holdings make up 57% of its $4.34B portfolio in Q1 2015.
  • PAR Capital Management opened 7 new positions and closed 7 in Q1 2015.
  • PAR Capital Management's portfolio value rose 0.14% quarter-over-quarter to $4.34B.

Based on PAR Capital Management's 13F filing for Q1 2015, filed 15 May 2015.