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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
+11.74%
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
$6.92B
AUM Growth
+$899M
Cap. Flow
+$307M
Cap. Flow %
4.44%
Top 10 Hldgs %
56.74%
Holding
91
New
10
Increased
24
Reduced
12
Closed
6

Top Buys

Rank Stock Value
1
EXPE icon
Expedia Group
EXPE
+$62.6M
2
JBLU icon
JetBlue
JBLU
+$52.9M
3
DOV icon
Dover
DOV
+$48.1M
4
DY icon
Dycom Industries
DY
+$41M
5
ISLE
Isle of Capri Casinos Inc
ISLE
+$31M

Top Sells

Rank Stock Value
1
WCG
Wellcare Health Plans, Inc.
WCG
+$55.9M
2
BRSL
Brightstar Lottery PLC
BRSL
+$12.4M
3
GLPI icon
Gaming and Leisure Properties
GLPI
+$10.2M
4
LNW
Light & Wonder
LNW
+$9.57M
5
PENN icon
PENN Entertainment
PENN
+$6.02M

Sector Composition

Rank Sector Weight
1 Industrials 39.16%
2 Consumer Discretionary 31.26%
3 Healthcare 11.56%
4 Communication Services 3.44%
5 Real Estate 2.19%
Name Market Value Portfolio Weight Shares or Principal Change
in Stake 		Capital Flow
UAL icon
1
United Airlines
UAL
$39.5B
$855M 12.35%
16,294,711
– –
EXPE icon
2
Expedia Group
EXPE
$37.1B
$829M 11.97%
7,100,027
+553,300
+8% +$62.6M
DAL icon
3
Delta Air Lines
DAL
$57.6B
$451M 6.52%
11,465,809
– –
CI icon
4
Cigna
CI
$78.6B
$393M 5.68%
3,017,739
– –
ALK icon
5
Alaska Air
ALK
$5.21B
$300M 4.33%
4,552,364
– –
ENT
6
DELISTED
Global Eagle Entertainment Inc.
ENT
$241M 3.48%
1,159,243
– –
GRUB
7
DELISTED
Just Eat Takeaway.com N.V. American Depositary Shares
GRUB
$235M 3.39%
2,727,500
– –
LUV icon
8
Southwest Airlines
LUV
$22B
$214M 3.09%
5,493,200
+195,700
+4% +$7.44M
CHDN icon
9
Churchill Downs
CHDN
$6.16B
$208M 3%
8,511,516
– –
TRIP icon
10
TripAdvisor
TRIP
$1.71B
$205M 2.95%
3,237,990
+40,000
+1% +$2.57M
BKNG icon
11
Booking.com
BKNG
$158B
$203M 2.93%
3,450,125
+33,750
+1% +$1.88M
MCK icon
12
McKesson
MCK
$104B
$177M 2.55%
1,060,000
+60,000
+6% +$11.2M
MGM icon
13
MGM Resorts International
MGM
$11.8B
$173M 2.5%
6,657,000
– –
BYD icon
14
Boyd Gaming
BYD
$6.72B
$158M 2.29%
8,009,200
+403,515
+5% +$7.75M
HCA icon
15
HCA Healthcare
HCA
$90.5B
$151M 2.18%
2,000,000
– –
OC icon
16
Owens Corning
OC
$11.1B
$138M 2%
2,589,762
– –
Z icon
17
Zillow
Z
$7.91B
$135M 1.94%
3,882,041
– –
GLPI icon
18
Gaming and Leisure Properties
GLPI
$13B
$126M 1.82%
3,769,478
-294,183
-7% -$10.2M
CP icon
19
Canadian Pacific Kansas City
CP
$81.1B
$94.9M 1.37%
3,107,250
-50,000
-2% -$1.47M
ISLE
20
DELISTED
Isle of Capri Casinos Inc
ISLE
$83.4M 1.2%
3,741,900
+1,650,400
+79% +$31M
WMB icon
21
Williams Companies
WMB
$85.5B
$75.6M 1.09%
2,460,000
+700,000
+40% +$18.6M
BRSL
22
Brightstar Lottery PLC
BRSL
$1.91B
$67M 0.97%
2,750,000
-560,328
-17% -$12.4M
CZR icon
23
Caesars Entertainment
CZR
$6.07B
$65.6M 0.95%
4,665,000
+1,113,161
+31% +$16M
CHGG icon
24
Chegg
CHGG
$118M
$61.7M 0.89%
8,702,598
+985
+0% +$6.3K
WMS icon
25
Advanced Drainage Systems
WMS
$10.6B
$61.1M 0.88%
2,540,000
– –
1
2 3 4

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DAM
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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 2016 Portfolio in Review

As of Q3 2016, PAR Capital Management held 91 positions worth $6.92B, up 15% from $6.03B the previous quarter. Its ten largest holdings account for 57% of the portfolio.

PAR Capital Management deployed $307M of net new capital in Q3 2016, opening 10 new positions and adding to 24 existing holdings. Its largest new stake was Dover: 831,851 shares worth $1.66M.

By sector, the portfolio is most concentrated in Industrials at 39% of assets, up from 38% a quarter earlier, followed by Consumer Discretionary and Healthcare.

On the sell side, the largest reduction was Wellcare Health Plans, Inc., an estimated $55.9M trimmed.

  • PAR Capital Management's largest Q3 2016 buy was Dover: 831,851 shares worth $1.66M.
  • PAR Capital Management added most to Expedia Group in Q3 2016, an estimated $62.6M increase.
  • PAR Capital Management's biggest Q3 2016 reduction was Wellcare Health Plans, Inc., cutting an estimated $55.9M.
  • PAR Capital Management fully exited Party City Holdco Inc. in Q3 2016, selling an estimated $5.15M.
  • PAR Capital Management's ten largest holdings make up 57% of its $6.92B portfolio in Q3 2016.
  • PAR Capital Management opened 10 new positions and closed 6 in Q3 2016.
  • PAR Capital Management's portfolio value rose 15% quarter-over-quarter to $6.92B.

Based on PAR Capital Management's 13F filing for Q3 2016, filed 14 Nov 2016.