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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
-1.49%
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
$4.74B
AUM Growth
+$321M
Cap. Flow
+$579M
Cap. Flow %
12.22%
Top 10 Hldgs %
61.03%
Holding
83
New
10
Increased
35
Reduced
11
Closed
3

Top Buys

Rank Stock Value
1
UAL icon
United Airlines
UAL
+$154M
2
DAL icon
Delta Air Lines
DAL
+$117M
3
BKNG icon
Booking.com
BKNG
+$58.7M
4
LUV icon
Southwest Airlines
LUV
+$57.6M
5
CLH icon
Clean Harbors
CLH
+$49.9M

Top Sells

Rank Stock Value
1
MLCO icon
Melco Resorts & Entertainment
MLCO
+$81.4M
2
AAL icon
American Airlines Group
AAL
+$78M
3
THC icon
Tenet Healthcare
THC
+$22.7M
4
MLI icon
Mueller Industries
MLI
+$11.1M
5
PENN icon
PENN Entertainment
PENN
+$9.14M

Sector Composition

Rank Sector Weight
1 Industrials 49.49%
2 Consumer Discretionary 28.52%
3 Real Estate 2.83%
4 Communication Services 2.68%
5 Financials 1.73%
Name Market Value Portfolio Weight Shares or Principal Change
in Stake 		Capital Flow
MC icon
76
Moelis & Co
MC
$4.85B
$2.63M 0.06%
+100,000
New +$2.83M
DVD
77
DELISTED
Dover Motorsports
DVD
$1.55M 0.03%
671,931
– –
MMYT icon
78
MakeMyTrip
MMYT
$5.38B
$1.1M 0.02%
79,973
– –
FMD
79
DELISTED
FIRST MARBLEHEAD CORP COM STK NEW (DE)
FMD
$206K ﹤0.01%
60,000
– –
BHR
80
Braemar Hotels & Resorts
BHR
$163M
– –
-228,521
Closed -$3.4M
MLI icon
81
Mueller Industries
MLI
$14.5B
– –
-1,280,000
Closed -$11.1M
THC icon
82
Tenet Healthcare
THC
$22.2B
– –
-392,700
Closed -$22.7M
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
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JGC
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CIA
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PAR Capital Management's Q3 2015 Portfolio in Review

As of Q3 2015, PAR Capital Management held 83 positions worth $4.74B, up 7.3% from $4.42B the previous quarter. Its ten largest holdings account for 61% of the portfolio.

PAR Capital Management deployed $579M of net new capital in Q3 2015, opening 10 new positions and adding to 35 existing holdings. Its largest new stake was Trip.com Group: 910,000 shares worth $28.7M.

By sector, the portfolio is most concentrated in Industrials at 49% of assets, up from 43% a quarter earlier, followed by Consumer Discretionary and Real Estate.

On the sell side, the largest reduction was Melco Resorts & Entertainment, an estimated $81.4M trimmed.

  • PAR Capital Management's largest Q3 2015 buy was Trip.com Group: 910,000 shares worth $28.7M.
  • PAR Capital Management added most to United Airlines in Q3 2015, an estimated $154M increase.
  • PAR Capital Management's biggest Q3 2015 reduction was Melco Resorts & Entertainment, cutting an estimated $81.4M.
  • PAR Capital Management fully exited Tenet Healthcare in Q3 2015, selling an estimated $22.7M.
  • PAR Capital Management's ten largest holdings make up 61% of its $4.74B portfolio in Q3 2015.
  • PAR Capital Management opened 10 new positions and closed 3 in Q3 2015.
  • PAR Capital Management's portfolio value rose 7.3% quarter-over-quarter to $4.74B.

Based on PAR Capital Management's 13F filing for Q3 2015, filed 16 Nov 2015.