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PAR Capital Management Portfolio holdings

AUM $4.03B
1-Year Est. Return 35.05%
This Fund
S&P 500
This Quarter Est. Return
+8.67%
1 Year Est. Return
+35.05%
3 Year Est. Return
+138.5%
5 Year Est. Return
+113.35%
10 Year Est. Return
+497.77%
AUM
$8.95B
AUM Growth
+$145M
Cap. Flow
-$436M
Cap. Flow %
-4.87%
Top 10 Hldgs %
56.41%
Holding
92
New
9
Increased
18
Reduced
18
Closed
14

Top Buys

Rank Stock Value
1
CZR
Caesars Entertainment Corporation
CZR
+$76.1M
2
MCK icon
McKesson
MCK
+$59.3M
3
STMP
Stamps.com, Inc.
STMP
+$36.3M
4
TRIP icon
TripAdvisor
TRIP
+$22.4M
5
EXPE icon
Expedia Group
EXPE
+$20.8M

Top Sells

Rank Stock Value
1
UAL icon
United Airlines
UAL
+$282M
2
CI icon
Cigna
CI
+$99.5M
3
BYD icon
Boyd Gaming
BYD
+$73.6M
4
GRUB
Just Eat Takeaway.com N.V. American Depositary Shares
GRUB
+$64.1M
5
LUV icon
Southwest Airlines
LUV
+$46M

Sector Composition

Rank Sector Weight
1 Industrials 42.31%
2 Consumer Discretionary 31.43%
3 Healthcare 12.1%
4 Communication Services 4.23%
5 Energy 2.43%
Name Market Value Portfolio Weight Shares or Principal Change
in Stake 		Capital Flow
TCOM icon
76
Trip.com Group
TCOM
$24.7B
$1.76M 0.02%
40,000
– –
DVD
77
DELISTED
Dover Motorsports
DVD
$1.31M 0.01%
671,931
– –
GDDY icon
78
GoDaddy
GDDY
$13.1B
– –
-17,000
Closed -$740K
HAPN
79
Happen Inc
HAPN
$1.89B
– –
-16,000
Closed -$487K
MODV
80
DELISTED
ModivCare
MODV
– –
-350,000
Closed -$18.9M
PAGP icon
81
Plains GP Holdings
PAGP
$5.53B
– –
-100,000
Closed -$2.19M
PGEN icon
82
Precigen
PGEN
$2.49B
– –
-176,410
Closed -$3.35M
QTWO icon
83
Q2 Holdings
QTWO
$3.77B
– –
-165,000
Closed -$6.87M
WIX icon
84
WIX.com
WIX
$3.45B
– –
-9,000
Closed -$647K
PGTI
85
DELISTED
PGT, Inc.
PGTI
– –
-761,394
Closed -$11.4M
FRC
86
DELISTED
First Republic Bank
FRC
– –
-80,000
Closed -$8.36M
PNK
87
DELISTED
Pinnacle Entertainment Inc.
PNK
– –
-50,854
Closed -$1.08M
WEB
88
DELISTED
Web.com Group, Inc.
WEB
– –
-38,202
Closed -$955K
BV
89
DELISTED
Bazaarvoice, Inc.
BV
– –
-60,000
Closed -$297K
RATE
90
DELISTED
Bankrate Inc
RATE
– –
-79,000
Closed -$1.1M
CACQ
91
DELISTED
Caesars Acquisition Company
CACQ
– –
-560,719
Closed -$12M
1 2 3
4

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PAR Capital Management's Q4 2017 Portfolio in Review

As of Q4 2017, PAR Capital Management held 92 positions worth $8.95B, up 1.6% from $8.8B the previous quarter. Its ten largest holdings account for 56% of the portfolio.

PAR Capital Management withdrew a net $436M in Q4 2017, closing 14 positions and reducing 18 holdings. Its most notable exit was ModivCare, an estimated $18.9M position sold in full.

By sector, the portfolio is most concentrated in Industrials at 42% of assets, down from 43% a quarter earlier, followed by Consumer Discretionary and Healthcare.

Against the trend, PAR Capital Management opened a new position in Caesars Entertainment Corporation worth $75.9M.

  • PAR Capital Management's largest Q4 2017 buy was Caesars Entertainment Corporation: 6,000,000 shares worth $75.9M.
  • PAR Capital Management added most to McKesson in Q4 2017, an estimated $59.3M increase.
  • PAR Capital Management's biggest Q4 2017 reduction was United Airlines, cutting an estimated $282M.
  • PAR Capital Management fully exited ModivCare in Q4 2017, selling an estimated $18.9M.
  • PAR Capital Management's ten largest holdings make up 56% of its $8.95B portfolio in Q4 2017.
  • PAR Capital Management opened 9 new positions and closed 14 in Q4 2017.
  • PAR Capital Management's portfolio value rose 1.6% quarter-over-quarter to $8.95B.

Based on PAR Capital Management's 13F filing for Q4 2017, filed 14 Feb 2018.