We are live on ! Find out more
PCM

PAR Capital Management Portfolio holdings

AUM $3.45B
1-Year Est. Return 28.5%
This Fund
S&P 500
This Quarter Est. Return
+8.67%
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
$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 31.29%
3 Healthcare 12%
4 Communication Services 3.49%
5 Real Estate 2.3%
Name Market Value Portfolio Weight Shares or Principal Change
in Stake 		Capital Flow
UAL icon
1
United Airlines
UAL
$39.6B
$1.04B 11.6%
15,399,152
-4,531,207
-23% -$282M
EXPE icon
2
Expedia Group
EXPE
$37.3B
$954M 10.67%
7,969,191
+160,208
+2% +$20.8M
DAL icon
3
Delta Air Lines
DAL
$57.8B
$731M 8.17%
13,055,809
-57,000
-0.4% -$2.98M
MCK icon
4
McKesson
MCK
$105B
$651M 7.28%
4,176,500
+400,300
+11% +$59.3M
GRUB
5
DELISTED
Just Eat Takeaway.com N.V. American Depositary Shares
GRUB
$357M 3.99%
2,484,150
-510,700
-17% -$64.1M
LUV icon
6
Southwest Airlines
LUV
$22.1B
$317M 3.54%
4,842,800
-782,400
-14% -$46M
CAR icon
7
Avis
CAR
$5.36B
$271M 3.03%
6,181,608
-219,000
-3% -$8.71M
CZR icon
8
Caesars Entertainment
CZR
$6.07B
$248M 2.77%
7,474,779
– –
BKNG icon
9
Booking.com
BKNG
$158B
$240M 2.68%
3,450,125
– –
BYD icon
10
Boyd Gaming
BYD
$6.73B
$239M 2.67%
6,824,101
-2,432,600
-26% -$73.6M
CI icon
11
Cigna
CI
$78.6B
$203M 2.27%
1,000,000
-500,000
-33% -$99.5M
CHDN icon
12
Churchill Downs
CHDN
$6.19B
$189M 2.12%
4,878,990
– –
ALK icon
13
Alaska Air
ALK
$5.23B
$184M 2.05%
2,500,000
– –
OC icon
14
Owens Corning
OC
$11.1B
$178M 1.99%
1,941,015
-210,000
-10% -$17.7M
HCA icon
15
HCA Healthcare
HCA
$90.5B
$176M 1.96%
2,000,000
– –
GLPI icon
16
Gaming and Leisure Properties
GLPI
$13B
$172M 1.92%
4,646,797
– –
Z icon
17
Zillow
Z
$7.93B
$159M 1.78%
3,882,041
– –
RRR icon
18
Red Rock Resorts
RRR
$3.86B
$142M 1.58%
4,198,000
+250,000
+6% +$6.97M
HTZ
19
DELISTED
Hertz Global Holdings, Inc.
HTZ
$130M 1.45%
6,777,751
– –
SGI
20
Somnigroup International
SGI
$14.4B
$128M 1.44%
8,192,000
– –
TRIP icon
21
TripAdvisor
TRIP
$1.71B
$114M 1.28%
3,316,569
+621,000
+23% +$22.4M
DY icon
22
Dycom Industries
DY
$11.5B
$114M 1.27%
1,022,000
+22,000
+2% +$2.12M
CONN
23
DELISTED
Conn's Inc.
CONN
$108M 1.2%
3,027,500
-12,500
-0.4% -$382K
BRSL
24
Brightstar Lottery PLC
BRSL
$1.91B
$103M 1.16%
3,901,099
+68,500
+2% +$1.76M
CHGG icon
25
Chegg
CHGG
$119M
$102M 1.14%
6,241,298
– –
1
2 3 4

Similar funds

LNC
Lincoln National Corp Radnor, Pennsylvania $3.45B AUM 12.55% 1-Year Est. Return
RBA
Richard Bernstein Advisors New York $3.45B AUM 16.24% 1-Year Est. Return
DAM
Davis Asset Management Sausalito, California $3.46B AUM 9.77% 1-Year Est. Return
PWP
Perfromance Wealth Partners Hinsdale, Illinois $3.45B AUM 29.14% 1-Year Est. Return
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
Caledonia Investments (Australia) Sydney NSW, Australia $3.44B AUM 20.03% 1-Year Est. Return
CCM
Check Capital Management Costa Mesa, California $3.44B AUM 9.15% 1-Year Est. Return

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.