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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
-14.72%
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
$5.98B
AUM Growth
-$2.73B
Cap. Flow
-$1.59B
Cap. Flow %
-26.58%
Top 10 Hldgs %
69.66%
Holding
79
New
2
Increased
13
Reduced
24
Closed
19

Top Buys

Rank Stock Value
1
BKNG icon
Booking.com
BKNG
+$150M
2
GRPN icon
Groupon
GRPN
+$137M
3
JBLU icon
JetBlue
JBLU
+$95.5M
4
IVV icon
iShares Core S&P 500 ETF
IVV
+$41M
5
SYF icon
Synchrony
SYF
+$29.6M

Top Sells

Rank Stock Value
1
MCK icon
McKesson
MCK
+$438M
2
CZR icon
Caesars Entertainment
CZR
+$191M
3
TCOM icon
Trip.com Group
TCOM
+$188M
4
WLL
Whiting Petroleum Corporation
WLL
+$171M
5
GLPI icon
Gaming and Leisure Properties
GLPI
+$133M

Sector Composition

Rank Sector Weight
1 Industrials 46.64%
2 Consumer Discretionary 34.74%
3 Communication Services 6.68%
4 Financials 2.83%
5 Healthcare 2.6%
Name Market Value Portfolio Weight Shares or Principal Change
in Stake 		Capital Flow
BMCH
76
DELISTED
BMC Stock Holdings, Inc
BMCH
– –
-344,000
Closed -$6.42M
GWR
77
DELISTED
Genesee & Wyoming Inc.
GWR
– –
-60,000
Closed -$5.46M
WLL
78
DELISTED
Whiting Petroleum Corporation
WLL
– –
-42,917
Closed -$171M
1 2 3
4

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RBA
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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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CCM
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PAR Capital Management's Q4 2018 Portfolio in Review

As of Q4 2018, PAR Capital Management held 79 positions worth $5.98B, down 31% from $8.71B the previous quarter. Its ten largest holdings account for 70% of the portfolio.

PAR Capital Management withdrew a net $1.59B in Q4 2018, closing 19 positions and reducing 24 holdings. Its most notable exit was McKesson, an estimated $438M position sold in full.

By sector, the portfolio is most concentrated in Industrials at 47% of assets, up from 40% a quarter earlier, followed by Consumer Discretionary and Communication Services.

Against the trend, PAR Capital Management opened a new position in iShares Core S&P 500 ETF worth $38M.

  • PAR Capital Management's largest Q4 2018 buy was iShares Core S&P 500 ETF: 151,000 shares worth $38M.
  • PAR Capital Management added most to Booking.com in Q4 2018, an estimated $150M increase.
  • PAR Capital Management's biggest Q4 2018 reduction was Gaming and Leisure Properties, cutting an estimated $133M.
  • PAR Capital Management fully exited McKesson in Q4 2018, selling an estimated $438M.
  • PAR Capital Management's ten largest holdings make up 70% of its $5.98B portfolio in Q4 2018.
  • PAR Capital Management opened 2 new positions and closed 19 in Q4 2018.
  • PAR Capital Management's portfolio value fell 31% quarter-over-quarter to $5.98B.

Based on PAR Capital Management's 13F filing for Q4 2018, filed 14 Feb 2019.