Par Capital Management Activity Q4 1999-Q3 2023

Q3 2023
 Value Shares↓ Weighting
EXPE BuyEXPEDIA GROUP INC$355,591,500
-4.4%
3,450,000
+1.5%
13.30%
+2.7%
WEX BuyWEX INC$348,888,141
+3.4%
1,854,900
+0.0%
13.05%
+11.0%
UBER SellUBER TECHNOLOGIES INC$275,940,000
-8.7%
6,000,000
-14.3%
10.32%
-1.9%
DAL SellDELTA AIR LINES INC DEL$166,500,000
-22.5%
4,500,000
-0.5%
6.23%
-16.8%
CAR BuyAVIS BUDGET GROUP$131,417,899
+13.1%
731,359
+43.9%
4.92%
+21.5%
TRIP SellTRIPADVISOR INC$86,216,000
-3.2%
5,200,000
-3.7%
3.22%
+4.0%
LUV SellSOUTHWEST AIRLS CO$40,605,000
-43.9%
1,500,000
-25.0%
1.52%
-39.8%
ALK SellALASKA AIR GROUP INC$40,046,400
-37.2%
1,080,000
-10.0%
1.50%
-32.6%
AAL SellAMERICAN AIRLS GROUP INC$32,025,000
-36.2%
2,500,000
-10.7%
1.20%
-31.5%
SABR SellSABRE CORP$22,450,000
+36.5%
5,000,000
-3.0%
0.84%
+46.9%
SQ BuyBLOCK INCcl a$22,130,000
+33.0%
500,000
+100.0%
0.83%
+43.0%
SNCY SellSUN CTRY AIRLS HLDGS INC$20,986,728
-37.8%
1,414,200
-5.7%
0.78%
-33.1%
CVNA BuyCARVANA COcl a$16,875,960
+130.9%
402,000
+42.6%
0.63%
+147.5%
HTZZ BuyHERTZ GLOBAL HLDGS INC$13,628,995
+270.6%
1,112,571
+456.3%
0.51%
+298.4%
H BuyHYATT HOTELS CORP$12,937,623
-1.9%
121,961
+5.9%
0.48%
+5.4%
ULCC SellFRONTIER GROUP HLDGS INC$9,680,000
-69.9%
2,000,000
-39.8%
0.36%
-67.6%
MAR BuyMARRIOTT INTL INC NEWcl a$4,481,568
+771.3%
22,800
+714.3%
0.17%
+833.3%
BuyVACASA INC$4,340,473
+128.5%
9,413,300
+236.2%
0.16%
+145.5%
GOOGL SellALPHABET INCcap stk cl a$3,494,025
-0.4%
26,500
-8.6%
0.13%
+7.4%
NewGLOBAL BUSINESS TRAVEL GROUP$2,980,181541,8510.11%
SAVE SellSPIRIT AIRLS INC$1,650,000
-8.0%
100,000
-4.3%
0.06%0.0%
WIX NewWIX COM LTD$504,9005,5000.02%
JPM NewJPMORGAN CHASE & CO$435,0603,0000.02%
MA NewMASTERCARD INCORPORATEDcl a$395,9101,0000.02%
VLRS SellCONTROLADORA VUELA COMP DE Aspon adr rp 10$371,664
-67.5%
54,737
-33.2%
0.01%
-65.0%
KMX ExitCARMAX INC$0-5,000-0.02%
DASH ExitDOORDASH INCcl a$0-12,000-0.03%
Q2 2023
 Value Shares↓ Weighting
EXPE NewEXPEDIA GROUP INC$371,926,0003,400,00012.95%
WEX NewWEX INC$337,557,7801,854,00011.75%
BKNG NewBOOKING HOLDINGS INC$324,039,600120,00011.28%
UBER NewUBER TECHNOLOGIES INC$302,190,0007,000,00010.52%
SYF NewSYNCHRONY FINANCIAL$284,928,0008,400,0009.92%
DAL NewDELTA AIR LINES INC DEL$214,918,8324,520,8007.48%
CAR NewAVIS BUDGET GROUP$116,190,428508,1144.05%
UAL NewUNITED AIRLS HLDGS INC$113,767,4582,073,4003.96%
TRIP NewTRIPADVISOR INC$89,046,0005,400,0003.10%
LUV NewSOUTHWEST AIRLS CO$72,420,0002,000,0002.52%
ALK NewALASKA AIR GROUP INC$63,816,0001,200,0002.22%
SCHW NewSCHWAB CHARLES CORP$63,765,0001,125,0002.22%
AXP NewAMERICAN EXPRESS CO$60,970,000350,0002.12%
AAL NewAMERICAN AIRLS GROUP INC$50,232,0002,800,0001.75%
CARG NewCARGURUS INC$42,834,0641,892,8001.49%
ABNB NewAIRBNB INC$38,448,000300,0001.34%
SNCY NewSUN CTRY AIRLS HLDGS INC$33,720,0001,500,0001.17%
ULCC NewFRONTIER GROUP HLDGS INC$32,125,6743,322,2001.12%
ALGT NewALLEGIANT TRAVEL CO$31,570,000250,0001.10%
TRVG NewTRIVAGO N V$29,153,29222,085,8271.02%
NewAVIDXCHANGE HOLDINGS INC$25,950,0002,500,0000.90%
CMA NewCOMERICA INC$21,180,000500,0000.74%
JBLU NewJETBLUE AWYS CORP$17,720,0002,000,0000.62%
GDOT NewGREEN DOT CORPcl a$16,866,000900,0000.59%
SQ NewBLOCK INCcl a$16,642,500250,0000.58%
SABR NewSABRE CORP$16,441,2605,154,0000.57%
WBS NewWEBSTER FINL CORP$14,156,250375,0000.49%
H NewHYATT HOTELS CORP$13,192,054115,1340.46%
ETSY NewETSY INC$11,697,333138,2500.41%
SKYW NewSKYWEST INC$9,709,318238,4410.34%
CVNA NewCARVANA COcl a$7,309,440282,0000.26%
SOFI NewSOFI TECHNOLOGIES INC$6,255,000750,0000.22%
HTZZ NewHERTZ GLOBAL HLDGS INC$3,678,000200,0000.13%
GOOGL NewALPHABET INCcap stk cl a$3,508,13029,0000.12%
FB NewMETA PLATFORMS INCcl a$2,525,4248,8000.09%
NewVACASA INC$1,899,8002,800,0000.07%
WH NewWYNDHAM HOTELS & RESORTS INC$1,851,39027,0000.06%
SAVE NewSPIRIT AIRLS INC$1,793,220104,5000.06%
EB NewEVENTBRITE INC$1,403,850147,0000.05%
VLRS NewCONTROLADORA VUELA COMP DE Aspon adr rp 10$1,143,90082,0000.04%
Z NewZILLOW GROUP INCcl c cap stk$904,68018,0000.03%
DASH NewDOORDASH INCcl a$917,04012,0000.03%
TCOM NewTRIP COM GROUP LTDads$700,00020,0000.02%
MAR NewMARRIOTT INTL INC NEWcl a$514,3322,8000.02%
KMX NewCARMAX INC$418,5005,0000.02%
Q4 2022
 Value Shares↓ Weighting
SKYW ExitSKYWEST INC$0-10,000-0.01%
WFC ExitWELLS FARGO CO NEW$0-11,600-0.02%
SPOT ExitSPOTIFY TECHNOLOGY S A$0-6,500-0.02%
ETSY ExitETSY INC$0-14,150-0.05%
APLE ExitAPPLE HOSPITALITY REIT INC$0-218,087-0.11%
SOFI ExitSOFI TECHNOLOGIES INC$0-807,000-0.15%
QQQ ExitINVESCO QQQ TRunit ser 1$0-16,600-0.16%
SABR ExitSABRE CORP$0-1,007,000-0.19%
ARKF ExitARK ETF TRfintech innova$0-350,000-0.20%
BAC ExitBK OF AMERICA CORP$0-200,000-0.22%
H ExitHYATT HOTELS CORP$0-96,634-0.29%
TRUE ExitTRUECAR INC$0-5,370,000-0.30%
ExitVACASA INC$0-2,800,000-0.32%
VLRS ExitCONTROLADORA VUELA COMP DE Aspon adr rp 10$0-1,600,000-0.42%
JBLU ExitJETBLUE AWYS CORP$0-2,000,000-0.49%
GDOT ExitGREEN DOT CORPcl a$0-850,000-0.60%
ExitAVIDXCHANGE HOLDINGS INC$0-2,000,000-0.62%
FLT ExitFLEETCOR TECHNOLOGIES INC$0-100,000-0.65%
MA ExitMASTERCARD INCORPORATEDcl a$0-70,000-0.74%
ULCC ExitFRONTIER GROUP HLDGS INC$0-2,181,072-0.78%
PYPL ExitPAYPAL HLDGS INC$0-293,000-0.94%
TRVG ExitTRIVAGO N V$0-22,085,827-0.95%
ALGT ExitALLEGIANT TRAVEL CO$0-361,614-0.98%
SNCY ExitSUN CTRY AIRLS HLDGS INC$0-1,965,881-0.99%
WBS ExitWEBSTER FINL CORP$0-600,000-1.01%
ABNB ExitAIRBNB INC$0-299,000-1.16%
AAL ExitAMERICAN AIRLS GROUP INC$0-2,935,421-1.31%
AXP ExitAMERICAN EXPRESS CO$0-350,000-1.75%
ALK ExitALASKA AIR GROUP INC$0-1,500,000-2.18%
LUV ExitSOUTHWEST AIRLS CO$0-2,000,000-2.29%
FB ExitMETA PLATFORMS INCcl a$0-507,000-2.55%
SCHW ExitSCHWAB CHARLES CORP$0-1,154,500-3.08%
DAL ExitDELTA AIR LINES INC DEL$0-3,000,000-3.12%
CARG ExitCARGURUS INC$0-6,295,000-3.31%
UAL ExitUNITED AIRLS HLDGS INC$0-3,833,200-4.62%
QUAL ExitISHARES TRmsci usa qlt fct$0-1,732,600-6.68%
TRIP ExitTRIPADVISOR INC$0-9,007,000-7.38%
SYF ExitSYNCHRONY FINANCIAL$0-8,150,000-8.52%
BKNG ExitBOOKING HOLDINGS INC$0-140,000-8.53%
WEX ExitWEX INC$0-1,850,000-8.71%
UBER ExitUBER TECHNOLOGIES INC$0-10,003,000-9.83%
EXPE ExitEXPEDIA GROUP INC$0-3,955,000-13.74%
Q3 2022
 Value Shares↓ Weighting
EXPE SellEXPEDIA GROUP INC$370,544,000
-7.0%
3,955,000
-5.8%
13.74%
+2.9%
UBER SellUBER TECHNOLOGIES INC$265,080,000
-3.2%
10,003,000
-25.3%
9.83%
+7.1%
WEX BuyWEX INC$234,839,000
-16.5%
1,850,000
+2.4%
8.71%
-7.6%
BKNG SellBOOKING HOLDINGS INC$230,049,000
-24.9%
140,000
-20.0%
8.53%
-16.9%
SYF BuySYNCHRONY FINANCIAL$229,749,000
+4.0%
8,150,000
+1.9%
8.52%
+15.0%
TRIP SellTRIPADVISOR INC$198,875,000
+0.0%
9,007,000
-19.3%
7.38%
+10.7%
QUAL NewISHARES TRmsci usa qlt fct$180,086,0001,732,6006.68%
UAL BuyUNITED AIRLS HLDGS INC$124,694,000
+4.0%
3,833,200
+13.2%
4.62%
+15.0%
CARG BuyCARGURUS INC$89,200,000
+1.2%
6,295,000
+53.5%
3.31%
+12.0%
DAL SellDELTA AIR LINES INC DEL$84,180,000
-3.4%
3,000,000
-0.3%
3.12%
+6.9%
SCHW BuySCHWAB CHARLES CORP$82,974,000
+14.2%
1,154,500
+0.4%
3.08%
+26.4%
FB SellMETA PLATFORMS INCcl a$68,790,000
-63.3%
507,000
-56.4%
2.55%
-59.4%
LUV SellSOUTHWEST AIRLS CO$61,680,000
-50.6%
2,000,000
-42.1%
2.29%
-45.3%
ALK SellALASKA AIR GROUP INC$58,725,000
-14.6%
1,500,000
-12.7%
2.18%
-5.6%
AXP BuyAMERICAN EXPRESS CO$47,219,000
+36.3%
350,000
+40.0%
1.75%
+50.8%
AAL SellAMERICAN AIRLS GROUP INC$35,342,000
-8.0%
2,935,421
-3.1%
1.31%
+1.8%
ABNB NewAIRBNB INC$31,407,000299,0001.16%
SNCY SellSUN CTRY AIRLS HLDGS INC$26,756,000
-33.5%
1,965,881
-10.3%
0.99%
-26.5%
ALGT SellALLEGIANT TRAVEL CO$26,391,000
-41.0%
361,614
-8.6%
0.98%
-34.7%
PYPL BuyPAYPAL HLDGS INC$25,219,000
+31.3%
293,000
+6.5%
0.94%
+45.2%
ULCC SellFRONTIER GROUP HLDGS INC$21,156,000
-25.3%
2,181,072
-27.9%
0.78%
-17.4%
GDOT BuyGREEN DOT CORPcl a$16,133,000
-13.5%
850,000
+14.5%
0.60%
-4.3%
SellVACASA INC$8,596,000
+6.3%
2,800,000
-0.3%
0.32%
+17.7%
TRUE SellTRUECAR INC$8,109,000
-63.0%
5,370,000
-36.5%
0.30%
-59.0%
H BuyHYATT HOTELS CORP$7,823,000
+2014.3%
96,634
+1832.7%
0.29%
+2316.7%
SABR NewSABRE CORP$5,186,0001,007,0000.19%
QQQ NewINVESCO QQQ TRunit ser 1$4,437,00016,6000.16%
SOFI BuySOFI TECHNOLOGIES INC$3,938,000
-0.4%
807,000
+7.6%
0.15%
+9.8%
APLE SellAPPLE HOSPITALITY REIT INC$3,066,000
-25.5%
218,087
-22.3%
0.11%
-17.4%
ETSY BuyETSY INC$1,417,000
+186.8%
14,150
+109.6%
0.05%
+211.8%
SPOT NewSPOTIFY TECHNOLOGY S A$561,0006,5000.02%
WFC NewWELLS FARGO CO NEW$467,00011,6000.02%
SKYW NewSKYWEST INC$163,00010,0000.01%
SIX ExitSIX FLAGS ENTMT CORP NEW$0-10,000-0.01%
HST ExitHOST HOTELS & RESORTS INC$0-15,000-0.01%
CAR ExitAVIS BUDGET GROUP$0-18,000-0.09%
STT ExitSTATE STR CORP$0-450,000-0.93%
SAVE ExitSPIRIT AIRLS INC$0-4,262,977-3.41%
Q2 2022
 Value Shares↓ Weighting
EXPE NewEXPEDIA GROUP INC$398,286,0004,200,00013.36%
BKNG NewBOOKING HOLDINGS INC$306,185,000175,06410.27%
WEX NewWEX INC$281,144,0001,807,3009.43%
UBER NewUBER TECHNOLOGIES INC$273,850,00013,384,6609.18%
SYF NewSYNCHRONY FINANCIAL$220,960,0008,000,0007.41%
TRIP NewTRIPADVISOR INC$198,783,00011,167,6046.67%
FB NewMETA PLATFORMS INCcl a$187,470,0001,162,6026.29%
LUV NewSOUTHWEST AIRLS CO$124,773,0003,454,4044.18%
UAL NewUNITED AIRLS HLDGS INC$119,926,0003,385,8274.02%
SAVE NewSPIRIT AIRLS INC$101,629,0004,262,9773.41%
CARG NewCARGURUS INC$88,104,0004,099,7672.95%
DAL NewDELTA AIR LINES INC DEL$87,142,0003,008,0002.92%
SCHW NewSCHWAB CHARLES CORP$72,657,0001,150,0002.44%
ALK NewALASKA AIR GROUP INC$68,801,0001,717,8802.31%
ALGT NewALLEGIANT TRAVEL CO$44,727,000395,5001.50%
SNCY NewSUN CTRY AIRLS HLDGS INC$40,214,0002,192,7121.35%
AAL NewAMERICAN AIRLS GROUP INC$38,420,0003,030,0001.29%
AXP NewAMERICAN EXPRESS CO$34,655,000250,0001.16%
TRVG NewTRIVAGO N V$32,908,00022,085,8271.10%
ULCC NewFRONTIER GROUP HLDGS INC$28,333,0003,023,8480.95%
STT NewSTATE STR CORP$27,743,000450,0000.93%
WBS NewWEBSTER FINL CORP$25,290,000600,0000.85%
MA NewMASTERCARD INCORPORATEDcl a$22,084,00070,0000.74%
TRUE NewTRUECAR INC$21,904,0008,457,1420.74%
FLT NewFLEETCOR TECHNOLOGIES INC$21,011,000100,0000.70%
PYPL NewPAYPAL HLDGS INC$19,206,000275,0000.64%
GDOT NewGREEN DOT CORPcl a$18,641,000742,3820.62%
JBLU NewJETBLUE AWYS CORP$16,740,0002,000,0000.56%
VLRS NewCONTROLADORA VUELA COMP DE Aspon adr rp 10$16,432,0001,600,0000.55%
NewAVIDXCHANGE HOLDINGS INC$12,280,0002,000,0000.41%
NewVACASA INC$8,086,0002,807,5670.27%
BAC NewBK OF AMERICA CORP$6,226,000200,0000.21%
ARKF NewARK ETF TRfintech innova$5,422,000350,0000.18%
APLE NewAPPLE HOSPITALITY REIT INC$4,115,000280,5010.14%
SOFI NewSOFI TECHNOLOGIES INC$3,953,000750,0000.13%
CAR NewAVIS BUDGET GROUP$2,647,00018,0000.09%
ETSY NewETSY INC$494,0006,7500.02%
H NewHYATT HOTELS CORP$370,0005,0000.01%
HST NewHOST HOTELS & RESORTS INC$235,00015,0000.01%
SIX NewSIX FLAGS ENTMT CORP NEW$217,00010,0000.01%
Q4 2021
 Value Shares↓ Weighting
OHPAW ExitORION ACQUISITION CORP*w exp 02/19/202$0-25,0000.00%
RXRAW ExitRXR ACQUISITION CORP*w exp 03/08/202$0-20,0000.00%
DMYQWS ExitDMY TECHNOLOGY GROUP INC IV*w exp 03/04/202$0-20,000-0.00%
FRSGW ExitFIRST RESERVE SUSTAINABLE GW*w exp 03/05/202$0-25,000-0.00%
ASZWS ExitAUSTERLITZ ACQUISITION CORP*w exp 02/19/202$0-25,000-0.00%
ATAQWS ExitALTIMAR ACQUISITION CORP III*w exp 08/03/202$0-25,000-0.00%
FSNBWS ExitFUSION ACQUISITION CORP II*w exp 02/29/202$0-33,333-0.00%
AUSWS ExitAUSTERLITZ ACQUISITION CORP*w exp 02/19/202$0-25,000-0.00%
VGIIWS ExitVIRGIN GROUP ACQUISIT CORP I*w exp 03/13/202$0-80,000-0.00%
WPCBWS ExitWARBURG PINCUS CAPTAL CORP I*w exp 99/99/999$0-150,000-0.00%
WPCAWS ExitWARBURG PINCUS CAPTAL CORP I*w exp 99/99/999$0-100,000-0.00%
ETSY ExitETSY INC$0-1,500-0.01%
ZIXI ExitZIX CORP$0-71,900-0.01%
ASZ ExitAUSTERLITZ ACQUISITION CORP$0-100,000-0.02%
ExitRXR ACQUISITION CORP$0-100,000-0.02%
OHPA ExitORION ACQUISITION CORP$0-100,000-0.02%
ATAQ ExitALTIMAR ACQUISITION CORP III$0-100,000-0.02%
FSNB ExitFUSION ACQUISITION CORP II$0-100,000-0.02%
FRSG ExitFIRST RESERVE SUSTAINABLE GW$0-100,000-0.02%
DMYQU ExitDMY TECHNOLOGY GROUP INC IVunit 99/99/9999$0-100,000-0.02%
CND ExitCONCORD ACQUISITION CORP$0-100,000-0.02%
AUS ExitAUSTERLITZ ACQUISITION CORP$0-100,000-0.02%
WU ExitWESTERN UN CO$0-100,000-0.05%
VGII ExitVIRGIN GROUP ACQUISIT CORP I$0-400,000-0.09%
WPCA ExitWARBURG PINCUS CAPTAL CORP I$0-500,000-0.12%
WH ExitWYNDHAM HOTELS & RESORTS INC$0-85,000-0.16%
WPCB ExitWARBURG PINCUS CAPTAL CORP I$0-750,000-0.18%
COF ExitCAPITAL ONE FINL CORP$0-60,000-0.23%
DFS ExitDISCOVER FINL SVCS$0-115,761-0.34%
MA ExitMASTERCARD INCORPORATEDcl a$0-50,000-0.42%
RRR ExitRED ROCK RESORTS INCcl a$0-534,529-0.66%
JBLU ExitJETBLUE AWYS CORP$0-2,000,000-0.73%
ABNB ExitAIRBNB INC$0-200,000-0.80%
SAVE ExitSPIRIT AIRLS INC$0-1,300,000-0.81%
GDOT ExitGREEN DOT CORPcl a$0-735,226-0.89%
STT ExitSTATE STR CORP$0-450,000-0.92%
VLRS ExitCONTROLADORA VUELA COMP DE Aspon adr rp 10$0-1,783,856-0.93%
TFC ExitTRUIST FINL CORP$0-675,000-0.95%
TRUE ExitTRUECAR INC$0-9,558,804-0.95%
AXP ExitAMERICAN EXPRESS CO$0-250,000-1.00%
PFSI ExitPENNYMAC FINL SVCS INC NEW$0-691,600-1.01%
TRVG ExitTRIVAGO N V$0-21,118,927-1.25%
CARG ExitCARGURUS INC$0-1,990,000-1.50%
GRPN ExitGROUPON INC$0-2,783,500-1.52%
AAL ExitAMERICAN AIRLS GROUP INC$0-3,137,500-1.54%
SCHW ExitSCHWAB CHARLES CORP$0-1,000,000-1.75%
SNCY ExitSUN CTRY AIRLS HLDGS INC$0-2,216,312-1.78%
ALK ExitALASKA AIR GROUP INC$0-1,607,600-2.26%
V ExitVISA INC$0-450,000-2.40%
LUV ExitSOUTHWEST AIRLS CO$0-2,000,000-2.47%
BALY ExitBALLYS CORPORATION$0-2,065,434-2.48%
ALGT ExitALLEGIANT TRAVEL CO$0-559,500-2.62%
DAL ExitDELTA AIR LINES INC DEL$0-2,903,500-2.97%
SABR ExitSABRE CORP$0-13,477,322-3.83%
UAL ExitUNITED AIRLS HLDGS INC$0-3,700,000-4.22%
UBER ExitUBER TECHNOLOGIES INC$0-4,735,800-5.09%
WEX ExitWEX INC$0-1,400,000-5.92%
SYF ExitSYNCHRONY FINANCIAL$0-7,400,000-8.68%
TRIP ExitTRIPADVISOR INC$0-12,347,046-10.03%
BKNG ExitBOOKING HOLDINGS INC$0-179,760-10.24%
EXPE ExitEXPEDIA GROUP INC$0-4,056,066-15.95%
Q3 2021
 Value Shares↓ Weighting
EXPE BuyEXPEDIA GROUP INC$664,789,000
+5.7%
4,056,066
+5.6%
15.95%
+3.6%
BKNG BuyBOOKING HOLDINGS INC$426,727,000
+30.0%
179,760
+19.8%
10.24%
+27.4%
TRIP BuyTRIPADVISOR INC$417,948,000
-10.4%
12,347,046
+6.7%
10.03%
-12.2%
WEX BuyWEX INC$246,596,000
+10.6%
1,400,000
+21.7%
5.92%
+8.3%
UBER BuyUBER TECHNOLOGIES INC$212,164,000
+28113.3%
4,735,800
+31472.0%
5.09%
+28177.8%
UAL SellUNITED AIRLS HLDGS INC$176,009,000
-22.4%
3,700,000
-14.6%
4.22%
-23.9%
SABR SellSABRE CORP$159,571,000
-16.0%
13,477,322
-11.5%
3.83%
-17.7%
DAL SellDELTA AIR LINES INC DEL$123,718,000
-13.0%
2,903,500
-11.7%
2.97%
-14.8%
ALGT SellALLEGIANT TRAVEL CO$109,371,000
-19.5%
559,500
-20.1%
2.62%
-21.1%
BALY SellBALLYS CORPORATION$103,561,000
-16.0%
2,065,434
-9.4%
2.48%
-17.7%
LUV SellSOUTHWEST AIRLS CO$102,860,000
-8.5%
2,000,000
-5.6%
2.47%
-10.4%
ALK SellALASKA AIR GROUP INC$94,205,000
-17.8%
1,607,600
-15.4%
2.26%
-19.5%
AAL BuyAMERICAN AIRLS GROUP INC$64,382,000
+4.6%
3,137,500
+8.1%
1.54%
+2.5%
GRPN BuyGROUPON INC$63,492,000
+7.4%
2,783,500
+103.2%
1.52%
+5.2%
TRVG BuyTRIVAGO N V$52,164,000
-18.4%
21,118,927
+9.3%
1.25%
-20.1%
TRUE SellTRUECAR INC$39,765,000
-27.2%
9,558,804
-1.1%
0.95%
-28.7%
TFC BuyTRUIST FINL CORP$39,589,000
+42.7%
675,000
+35.0%
0.95%
+39.7%
STT BuySTATE STR CORP$38,124,000
+12.6%
450,000
+9.4%
0.92%
+10.4%
GDOT BuyGREEN DOT CORPcl a$37,004,000
+21.5%
735,226
+13.1%
0.89%
+19.0%
SAVE SellSPIRIT AIRLS INC$33,722,000
-20.9%
1,300,000
-7.1%
0.81%
-22.5%
ABNB SellAIRBNB INC$33,550,000
-12.4%
200,000
-20.0%
0.80%
-14.2%
CND NewCONCORD ACQUISITION CORP$1,008,000100,0000.02%
ETSY NewETSY INC$312,0001,5000.01%
PCYO ExitPURE CYCLE CORP$0-31,000-0.01%
TRIP ExitTRIPADVISOR INCput$0-1,535,000-1.52%
Q2 2021
 Value Shares↓ Weighting
EXPE NewEXPEDIA GROUP INC$628,829,0003,841,11415.40%
TRIP NewTRIPADVISOR INC$466,353,00011,572,04611.42%
SYF NewSYNCHRONY FINANCIAL$359,048,0007,400,0008.79%
BKNG NewBOOKING HOLDINGS INC$328,214,000150,0008.04%
UAL NewUNITED AIRLS HLDGS INC$226,677,0004,335,0005.55%
WEX NewWEX INC$222,985,0001,150,0005.46%
SABR NewSABRE CORP$190,019,00015,225,9124.65%
DAL NewDELTA AIR LINES INC DEL$142,273,0003,288,8003.48%
ALGT NewALLEGIANT TRAVEL CO$135,800,000700,0003.33%
BALY NewBALLYS CORPORATION$123,319,0002,279,0443.02%
ALK NewALASKA AIR GROUP INC$114,589,0001,900,0002.81%
LUV NewSOUTHWEST AIRLS CO$112,445,0002,118,0002.75%
V NewVISA INC$105,219,000450,0002.58%
SNCY NewSUN CTRY AIRLS HLDGS INC$77,924,0002,216,3121.91%
SCHW NewSCHWAB CHARLES CORP$72,810,0001,000,0001.78%
TRVG NewTRIVAGO N V$63,945,00019,318,6831.57%
TRIP NewTRIPADVISOR INCput$61,861,0001,535,0001.52%
AAL NewAMERICAN AIRLS GROUP INC$61,551,0002,902,0001.51%
GRPN NewGROUPON INC$59,108,0001,369,5001.45%
TRUE NewTRUECAR INC$54,629,0009,668,8041.34%
CARG NewCARGURUS INC$52,198,0001,990,0001.28%
PFSI NewPENNYMAC FINL SVCS INC NEW$42,686,000691,6001.04%
SAVE NewSPIRIT AIRLS INC$42,616,0001,400,0001.04%
AXP NewAMERICAN EXPRESS CO$41,308,000250,0001.01%
ABNB NewAIRBNB INC$38,285,000250,0000.94%
VLRS NewCONTROLADORA VUELA COMP DE Aspon adr rp 10$34,268,0001,783,8560.84%
STT NewSTATE STR CORP$33,845,000411,3400.83%
JBLU NewJETBLUE AWYS CORP$33,560,0002,000,0000.82%
GDOT NewGREEN DOT CORPcl a$30,453,000650,0000.75%
TFC NewTRUIST FINL CORP$27,750,000500,0000.68%
RRR NewRED ROCK RESORTS INCcl a$22,717,000534,5290.56%
MA NewMASTERCARD INCORPORATEDcl a$18,255,00050,0000.45%
DFS NewDISCOVER FINL SVCS$13,693,000115,7610.34%
COF NewCAPITAL ONE FINL CORP$9,281,00060,0000.23%
WPCB NewWARBURG PINCUS CAPTAL CORP I$7,313,000750,0000.18%
WH NewWYNDHAM HOTELS & RESORTS INC$6,145,00085,0000.15%
WPCA NewWARBURG PINCUS CAPTAL CORP I$4,900,000500,0000.12%
VGII NewVIRGIN GROUP ACQUISIT CORP I$3,916,000400,0000.10%
WU NewWESTERN UN CO$2,297,000100,0000.06%
ASZ NewAUSTERLITZ ACQUISITION CORP$973,000100,0000.02%
DMYQU NewDMY TECHNOLOGY GROUP INC IVunit 99/99/9999$977,000100,0000.02%
FRSG NewFIRST RESERVE SUSTAINABLE GW$970,000100,0000.02%
FSNB NewFUSION ACQUISITION CORP II$967,000100,0000.02%
NewRXR ACQUISITION CORP$971,000100,0000.02%
ATAQ NewALTIMAR ACQUISITION CORP III$975,000100,0000.02%
OHPA NewORION ACQUISITION CORP$966,000100,0000.02%
AUS NewAUSTERLITZ ACQUISITION CORP$992,000100,0000.02%
UBER NewUBER TECHNOLOGIES INC$752,00015,0000.02%
ZIXI NewZIX CORP$507,00071,9000.01%
PCYO NewPURE CYCLE CORP$428,00031,0000.01%
WPCBWS NewWARBURG PINCUS CAPTAL CORP I*w exp 99/99/999$195,000150,0000.01%
WPCAWS NewWARBURG PINCUS CAPTAL CORP I*w exp 99/99/999$135,000100,0000.00%
VGIIWS NewVIRGIN GROUP ACQUISIT CORP I*w exp 03/13/202$102,00080,0000.00%
DMYQWS NewDMY TECHNOLOGY GROUP INC IV*w exp 03/04/202$28,00020,0000.00%
RXRAW NewRXR ACQUISITION CORP*w exp 03/08/202$21,00020,0000.00%
FSNBWS NewFUSION ACQUISITION CORP II*w exp 02/29/202$33,00033,3330.00%
FRSGW NewFIRST RESERVE SUSTAINABLE GW*w exp 03/05/202$29,00025,0000.00%
OHPAW NewORION ACQUISITION CORP*w exp 02/19/202$24,00025,0000.00%
ATAQWS NewALTIMAR ACQUISITION CORP III*w exp 08/03/202$28,00025,0000.00%
AUSWS NewAUSTERLITZ ACQUISITION CORP*w exp 02/19/202$31,00025,0000.00%
ASZWS NewAUSTERLITZ ACQUISITION CORP*w exp 02/19/202$43,00025,0000.00%
Q4 2020
 Value Shares↓ Weighting
FLEX ExitFLEX LTDord$0-9,910-0.00%
ZIXI ExitZIX CORP$0-71,900-0.02%
TCOM ExitTRIP COM GROUP LTDads$0-20,000-0.02%
DESP ExitDESPEGAR COM CORP$0-183,526-0.04%
MGP ExitMGM GROWTH PPTYS LLC$0-43,300-0.05%
MMYT ExitMAKEMYTRIP LIMITED MAURITIUS$0-131,288-0.08%
ANGI ExitANGI HOMESERVICES INC$0-200,000-0.08%
SKYW ExitSKYWEST INC$0-143,984-0.16%
EVER ExitEVERQUOTE INC$0-125,000-0.18%
CARG ExitCARGURUS INC$0-400,000-0.33%
CHGG ExitCHEGG INC$0-125,000-0.34%
GLPI ExitGAMING & LEISURE PPTYS INC$0-243,869-0.34%
PCYO ExitPURECYCLE CORP$0-1,000,000-0.34%
TREE ExitLENDINGTREE INC NEW$0-30,000-0.35%
VLRS ExitCONTROLADORA VUELA COMP DE Aspon adr rp 10$0-1,735,000-0.47%
CAR ExitAVIS BUDGET GROUP$0-521,850-0.52%
PENN ExitPENN NATL GAMING INC$0-201,300-0.56%
SAVE ExitSPIRIT AIRLS INC$0-1,000,000-0.61%
CVNA ExitCARVANA COcl a$0-80,000-0.68%
GRPN ExitGROUPON INC$0-940,775-0.73%
JBLU ExitJETBLUE AWYS CORP$0-2,000,000-0.86%
AAL ExitAMERICAN AIRLS GROUP INC$0-2,019,000-0.94%
RRR ExitRED ROCK RESORTS INCcl a$0-1,669,619-1.08%
SCHW ExitSCHWAB CHARLES CORP$0-900,000-1.24%
TRVG ExitTRIVAGO N V$0-21,229,796-1.25%
PFSI ExitPENNYMAC FINL SVCS INC NEW$0-761,600-1.68%
TRUE ExitTRUECAR INC$0-10,299,504-1.95%
BYD ExitBOYD GAMING CORP$0-1,704,537-1.98%
TRWH ExitTWIN RIV WORLDWIDE HLDGS INC$0-2,752,184-2.74%
ALK ExitALASKA AIR GROUP INC$0-2,060,625-2.86%
V ExitVISA INC$0-450,000-3.41%
LUV ExitSOUTHWEST AIRLS CO$0-2,563,800-3.65%
SABR ExitSABRE CORP$0-14,776,044-3.65%
DVA ExitDAVITA INC$0-1,216,385-3.95%
DAL ExitDELTA AIR LINES INC DEL$0-3,526,450-4.09%
WEX ExitWEX INC$0-868,000-4.57%
ALGT ExitALLEGIANT TRAVEL CO$0-1,255,535-5.70%
TRIP ExitTRIPADVISOR INC$0-8,415,258-6.25%
CHDN ExitCHURCHILL DOWNS INC$0-1,023,720-6.36%
SYF ExitSYNCHRONY FINANCIAL$0-6,575,000-6.52%
EXPE ExitEXPEDIA GROUP INC$0-2,523,617-8.77%
UAL ExitUNITED AIRLS HLDGS INC$0-7,638,291-10.06%
BKNG ExitBOOKING HOLDINGS INC$0-162,100-10.52%
Q3 2020
 Value Shares↓ Weighting
BKNG SellBOOKING HOLDINGS INC$277,301,000
-45.0%
162,100
-48.8%
10.52%
-45.6%
UAL BuyUNITED AIRLS HLDGS INC$265,431,000
+1.4%
7,638,291
+1.0%
10.06%
+0.2%
EXPE BuyEXPEDIA GROUP INC$231,390,000
+16.1%
2,523,617
+4.1%
8.77%
+14.7%
SYF BuySYNCHRONY FINANCIAL$172,068,000
+19.5%
6,575,000
+1.2%
6.52%
+18.0%
CHDN SellCHURCHILL DOWNS INC$167,706,000
+20.1%
1,023,720
-2.4%
6.36%
+18.6%
TRIP BuyTRIPADVISOR INC$164,855,000
+231.9%
8,415,258
+222.0%
6.25%
+227.8%
ALGT SellALLEGIANT TRAVEL CO$150,413,000
+8.4%
1,255,535
-1.2%
5.70%
+7.1%
WEX BuyWEX INC$120,626,000
-8.6%
868,000
+8.5%
4.57%
-9.7%
DAL BuyDELTA AIR LINES INC DEL$107,839,000
+9.3%
3,526,450
+0.3%
4.09%
+8.0%
DVA SellDAVITA INC$104,183,000
-37.1%
1,216,385
-41.8%
3.95%
-37.8%
SABR BuySABRE CORP$96,192,000
+156.3%
14,776,044
+217.3%
3.65%
+153.1%
LUV BuySOUTHWEST AIRLS CO$96,143,000
+10.4%
2,563,800
+0.6%
3.65%
+9.1%
ALK BuyALASKA AIR GROUP INC$75,481,000
+108.2%
2,060,625
+106.1%
2.86%
+105.6%
TRWH BuyTWIN RIV WORLDWIDE HLDGS INC$72,300,000
+17.9%
2,752,184
+0.0%
2.74%
+16.4%
BYD SellBOYD GAMING CORP$52,312,000
+7.9%
1,704,537
-26.5%
1.98%
+6.7%
PFSI SellPENNYMAC FINL SVCS INC NEW$44,264,000
+12.1%
761,600
-19.4%
1.68%
+10.7%
TRVG BuyTRIVAGO N V$32,906,000
-20.6%
21,229,796
+1.0%
1.25%
-21.5%
SCHW BuySCHWAB CHARLES CORP$32,607,000
+24.7%
900,000
+16.1%
1.24%
+23.1%
RRR BuyRED ROCK RESORTS INCcl a$28,550,000
+60.8%
1,669,619
+2.6%
1.08%
+59.0%
AAL SellAMERICAN AIRLS GROUP INC$24,814,000
-29.7%
2,019,000
-25.2%
0.94%
-30.5%
CVNA SellCARVANA COcl a$17,845,000
-59.7%
80,000
-78.3%
0.68%
-60.2%
PENN SellPENN NATL GAMING INC$14,635,000
-31.7%
201,300
-71.3%
0.56%
-32.5%
CAR NewAVIS BUDGET GROUP$13,735,000521,8500.52%
VLRS BuyCONTROLADORA VUELA COMP DE Aspon adr rp 10$12,509,000
+100.1%
1,735,000
+46.6%
0.47%
+97.5%
TREE SellLENDINGTREE INC NEW$9,207,000
-9.1%
30,000
-14.3%
0.35%
-10.3%
PCYO SellPURECYCLE CORP$9,010,000
-19.6%
1,000,000
-18.0%
0.34%
-20.5%
GLPI SellGAMING & LEISURE PPTYS INC$9,006,000
-33.3%
243,869
-37.5%
0.34%
-34.2%
MGP SellMGM GROWTH PPTYS LLC$1,212,000
-29.6%
43,300
-31.6%
0.05%
-30.3%
DVD ExitDOVER MOTORSPORTS INC$0-590,000-0.04%
PAGP ExitPLAINS GP HLDGS L Pltd partnr int a$0-120,000-0.04%
RDFN ExitREDFIN CORP$0-127,800-0.21%
ExitPENN NATL GAMING INCnote 2.750% 5/1$0-12,000,000-0.69%
Q2 2020
 Value Shares↓ Weighting
BKNG NewBOOKING HOLDINGS INC$503,886,000316,44419.34%
UAL NewUNITED AIRLS HLDGS INC$261,707,0007,561,59110.04%
EXPE NewEXPEDIA GROUP INC$199,221,0002,423,6177.65%
DVA NewDAVITA INC$165,513,0002,091,4006.35%
SYF NewSYNCHRONY FINANCIAL$144,040,0006,500,0005.53%
CHDN NewCHURCHILL DOWNS INC$139,637,0001,048,7205.36%
ALGT NewALLEGIANT TRAVEL CO$138,771,0001,270,6765.33%
WEX NewWEX INC$132,008,000800,0005.07%
DAL NewDELTA AIR LINES INC DEL$98,652,0003,517,0003.79%
LUV NewSOUTHWEST AIRLS CO$87,091,0002,548,0003.34%
V NewVISA INC$86,927,000450,0003.34%
TRWH NewTWIN RIV WORLDWIDE HLDGS INC$61,326,0002,751,2992.35%
TRIP NewTRIPADVISOR INC$49,675,0002,613,1001.91%
BYD NewBOYD GAMING CORP$48,472,0002,319,2371.86%
CVNA NewCARVANA COcl a$44,304,000368,5881.70%
TRVG NewTRIVAGO N V$41,429,00021,029,7961.59%
PFSI NewPENNYMAC FINL SVCS INC NEW$39,487,000944,9001.52%
SABR NewSABRE CORP$37,531,0004,656,4061.44%
ALK NewALASKA AIR GROUP INC$36,260,0001,000,0001.39%
AAL NewAMERICAN AIRLS GROUP INC$35,289,0002,700,0001.35%
TRUE NewTRUECAR INC$26,573,00010,299,5041.02%
SCHW NewSCHWAB CHARLES CORP$26,149,000775,0001.00%
JBLU NewJETBLUE AWYS CORP$21,800,0002,000,0000.84%
PENN NewPENN NATL GAMING INC$21,418,000701,3000.82%
NewPENN NATL GAMING INCnote 2.750% 5/1$18,050,00012,000,0000.69%
SAVE NewSPIRIT AIRLS INC$17,800,0001,000,0000.68%
RRR NewRED ROCK RESORTS INCcl a$17,753,0001,627,2480.68%
GRPN NewGROUPON INC$17,047,000940,7750.65%
GLPI NewGAMING & LEISURE PPTYS INC$13,496,000390,0560.52%
PCYO NewPURECYCLE CORP$11,203,0001,219,0000.43%
TREE NewLENDINGTREE INC NEW$10,134,00035,0000.39%
CARG NewCARGURUS INC$10,140,000400,0000.39%
CHGG NewCHEGG INC$8,408,000125,0000.32%
EVER NewEVERQUOTE INC$7,270,000125,0000.28%
VLRS NewCONTROLADORA VUELA COMP DE Aspon adr rp 10$6,250,0001,183,7000.24%
RDFN NewREDFIN CORP$5,356,000127,8000.21%
SKYW NewSKYWEST INC$4,697,000143,9840.18%
ANGI NewANGI HOMESERVICES INC$2,430,000200,0000.09%
MMYT NewMAKEMYTRIP LIMITED MAURITIUS$2,011,000131,2880.08%
MGP NewMGM GROWTH PPTYS LLC$1,722,00063,3000.07%
DESP NewDESPEGAR COM CORP$1,318,000183,5260.05%
PAGP NewPLAINS GP HLDGS L Pltd partnr int a$1,068,000120,0000.04%
DVD NewDOVER MOTORSPORTS INC$915,000590,0000.04%
TCOM NewTRIP COM GROUP LTDads$518,00020,0000.02%
ZIXI NewZIX CORP$496,00071,9000.02%
FLEX NewFLEX LTDord$102,0009,9100.00%
Q4 2019
 Value Shares↓ Weighting
FLEX ExitFLEX LTDord$0-9,910-0.00%
ZIXI ExitZIX CORP$0-71,900-0.01%
DVD ExitDOVER MOTORSPORTS INC$0-590,000-0.02%
CHGG ExitCHEGG INC$0-50,000-0.03%
MGM ExitMGM RESORTS INTERNATIONAL$0-70,000-0.03%
DESP ExitDESPEGAR COM CORP$0-183,526-0.04%
RLGY ExitREALOGY HLDGS CORP$0-350,000-0.04%
MMYT ExitMAKEMYTRIP LIMITED MAURITIUS$0-101,200-0.04%
EVER ExitEVERQUOTE INC$0-125,000-0.05%
PENN ExitPENN NATL GAMING INC$0-160,000-0.05%
IWM ExitISHARES TRput$0-200-0.06%
ANTM ExitANTHEM INC$0-20,000-0.08%
GSKY ExitGREENSKY INCcl a$0-812,871-0.10%
ABC ExitAMERISOURCEBERGEN CORP$0-75,000-0.11%
CAR ExitAVIS BUDGET GROUP INC$0-225,000-0.11%
TSG ExitSTARS GROUP INC$0-454,100-0.12%
TREE ExitLENDINGTREE INC NEW$0-26,400-0.14%
SEM ExitSELECT MED HLDGS CORP$0-567,708-0.16%
WBS ExitWEBSTER FINL CORP CONN$0-210,100-0.17%
HTZGQ ExitHERTZ GLOBAL HLDGS INCcall$0-8,000-0.20%
CAR ExitAVIS BUDGET GROUP INCput$0-4,547-0.22%
BCEI ExitBONANZA CREEK ENERGY INC$0-601,714-0.23%
VLRS ExitCONTROLADORA VUELA CIA DE AVspon adr rp 10$0-1,465,886-0.25%
GRUB ExitGRUBHUB INC$0-350,000-0.34%
QNST ExitQUINSTREET INC$0-1,767,697-0.38%
CVNA ExitCARVANA COcl a$0-345,000-0.39%
SKYW ExitSKYWEST INC$0-458,884-0.46%
PFSI ExitPENNYMAC FINL SVCS INC$0-950,000-0.50%
IGT ExitINTERNATIONAL GAME TECHNOLOG$0-2,132,747-0.52%
TRUE ExitTRUECAR INC$0-10,299,504-0.61%
EHTH ExitEHEALTH INC$0-531,142-0.61%
RRR ExitRED ROCK RESORTS INCcl a$0-1,771,257-0.62%
TRWH ExitTWIN RIV WORLDWIDE HLDGS INC$0-1,617,481-0.64%
BYD ExitBOYD GAMING CORP$0-2,424,195-1.00%
PCYO ExitPURECYCLE CORP$0-5,982,970-1.06%
FB ExitFACEBOOK INCcl a$0-357,800-1.10%
V ExitVISA INC$0-450,000-1.34%
TRVG ExitTRIVAGO N V$0-21,029,796-1.50%
TRIP ExitTRIPADVISOR INC$0-2,304,017-1.54%
SYF ExitSYNCHRONY FINL$0-2,795,000-1.65%
HTZGQ ExitHERTZ GLOBAL HLDGS INC$0-7,974,607-1.91%
WEX ExitWEX INC$0-725,000-2.54%
GRPN ExitGROUPON INC$0-56,645,000-2.61%
JBLU ExitJETBLUE AWYS CORP$0-9,978,600-2.89%
ALK ExitALASKA AIR GROUP INC$0-2,710,000-3.05%
DVA ExitDAVITA INC$0-4,159,000-4.11%
ALGT ExitALLEGIANT TRAVEL CO$0-1,625,000-4.21%
CHDN ExitCHURCHILL DOWNS INC$0-2,155,951-4.61%
BKNG ExitBOOKING HLDGS INC$0-157,864-5.36%
DAL ExitDELTA AIR LINES INC DEL$0-8,500,000-8.48%
UAL ExitUNITED AIRLINES HLDGS INC$0-14,046,389-21.50%
EXPE ExitEXPEDIA GROUP INC$0-9,534,627-22.19%
Q3 2019
 Value Shares↓ Weighting
EXPE BuyEXPEDIA GROUP INC$1,281,549,000
+1.3%
9,534,627
+0.3%
22.19%
+4.7%
UAL SellUNITED AIRLINES HLDGS INC$1,241,841,000
-5.8%
14,046,389
-6.8%
21.50%
-2.7%
DAL SellDELTA AIR LINES INC DEL$489,600,000
-12.8%
8,500,000
-14.1%
8.48%
-9.8%
JBLU BuyJETBLUE AWYS CORP$167,142,000
+3.0%
9,978,600
+13.7%
2.89%
+6.4%
HTZGQ BuyHERTZ GLOBAL HLDGS INC$110,369,000
+17.4%
7,974,607
+35.4%
1.91%
+21.4%
SYF BuySYNCHRONY FINL$95,282,000
+3.7%
2,795,000
+5.5%
1.65%
+7.2%
TRVG BuyTRIVAGO N V$86,432,000
-0.7%
21,029,796
+1.7%
1.50%
+2.7%
BYD BuyBOYD GAMING CORP$58,059,000
-8.7%
2,424,195
+2.8%
1.00%
-5.5%
TRWH BuyTWIN RIV WORLDWIDE HLDGS INC$36,927,000
-15.4%
1,617,481
+10.2%
0.64%
-12.6%
RRR BuyRED ROCK RESORTS INCcl a$35,965,000
+1.7%
1,771,257
+7.6%
0.62%
+5.2%
IGT BuyINTERNATIONAL GAME TECHNOLOG$30,306,000
+13.3%
2,132,747
+3.4%
0.52%
+17.2%
VLRS BuyCONTROLADORA VUELA CIA DE AVspon adr rp 10$14,674,000
+15.2%
1,465,886
+8.0%
0.25%
+19.2%
BCEI SellBONANZA CREEK ENERGY INC$13,472,000
-31.7%
601,714
-36.3%
0.23%
-29.4%
CAR NewAVIS BUDGET GROUP INCput$12,850,0004,5470.22%
HTZGQ BuyHERTZ GLOBAL HLDGS INCcall$11,336,000
+136.8%
8,000
+166.7%
0.20%
+145.0%
TSG SellSTARS GROUP INC$6,802,000
-21.0%
454,100
-9.9%
0.12%
-18.1%
GSKY BuyGREENSKY INCcl a$5,564,000
-37.4%
812,871
+12.4%
0.10%
-35.6%
PENN BuyPENN NATL GAMING INC$2,980,000
+106.2%
160,000
+113.3%
0.05%
+116.7%
MGM NewMGM RESORTS INTERNATIONAL$1,940,00070,0000.03%
CHGG NewCHEGG INC$1,498,00050,0000.03%
TPX ExitTEMPUR SEALY INTL INC$0-50,000-0.06%
SEMG ExitSEMGROUP CORPcl a$0-537,779-0.11%
Z ExitZILLOW GROUP INCcl c cap stk$0-155,000-0.12%
Q2 2019
 Value Shares↓ Weighting
UAL NewUNITED CONTL HLDGS INC$1,318,825,00015,063,68322.09%
EXPE NewEXPEDIA GROUP INC$1,265,066,0009,509,62721.19%
DAL NewDELTA AIR LINES INC DEL$561,325,0009,891,1909.40%
BKNG NewBOOKING HLDGS INC$295,949,000157,8644.96%
CHDN NewCHURCHILL DOWNS INC$248,085,0002,155,9514.16%
DVA NewDAVITA INC$233,985,0004,159,0003.92%
ALGT NewALLEGIANT TRAVEL CO$233,188,0001,625,0003.91%
GRPN NewGROUPON INC$202,789,00056,645,0003.40%
ALK NewALASKA AIR GROUP INC$173,196,0002,710,0002.90%
JBLU NewJETBLUE AWYS CORP$162,316,0008,778,6002.72%
WEX NewWEX INC$150,873,000725,0002.53%
TRIP NewTRIPADVISOR INC$106,653,0002,304,0171.79%
HTZGQ NewHERTZ GLOBAL HLDGS INC$93,982,0005,888,5761.57%
SYF NewSYNCHRONY FINL$91,876,0002,650,0001.54%
TRVG NewTRIVAGO N V$87,037,00020,673,7961.46%
V NewVISA INC$78,098,000450,0001.31%
FB NewFACEBOOK INCcl a$69,055,000357,8001.16%
BYD NewBOYD GAMING CORP$63,557,0002,359,1951.06%
PCYO NewPURECYCLE CORP$63,419,0005,982,9701.06%
TRUE NewTRUECAR INC$56,235,00010,299,5040.94%
EHTH NewEHEALTH INC$45,731,000531,1420.77%
TRWH NewTWIN RIV WORLDWIDE HLDGS INC$43,650,0001,467,2320.73%
RRR NewRED ROCK RESORTS INCcl a$35,362,0001,646,2570.59%
QNST NewQUINSTREET INC$28,018,0001,767,6970.47%
SKYW NewSKYWEST INC$27,840,000458,8840.47%
GRUB NewGRUBHUB INC$27,297,000350,0000.46%
IGT NewINTERNATIONAL GAME TECHNOLOG$26,754,0002,062,7470.45%
CVNA NewCARVANA COcl a$21,594,000345,0000.36%
PFSI NewPENNYMAC FINL SVCS INC$21,071,000950,0000.35%
BCEI NewBONANZA CREEK ENERGY INC$19,732,000945,0140.33%
VLRS NewCONTROLADORA VUELA CIA DE AVspon adr rp 10$12,737,0001,357,8890.21%
TREE NewLENDINGTREE INC NEW$11,089,00026,4000.19%
WBS NewWEBSTER FINL CORP CONN$10,036,000210,1000.17%
SEM NewSELECT MED HLDGS CORP$9,010,000567,7080.15%
GSKY NewGREENSKY INCcl a$8,891,000723,4000.15%
TSG NewSTARS GROUP INC$8,605,000504,1000.14%
CAR NewAVIS BUDGET GROUP INC$7,911,000225,0000.13%
Z NewZILLOW GROUP INCcl c cap stk$7,190,000155,0000.12%
SEMG NewSEMGROUP CORPcl a$6,453,000537,7790.11%
ABC NewAMERISOURCEBERGEN CORP$6,395,00075,0000.11%
ANTM NewANTHEM INC$5,644,00020,0000.10%
HTZGQ NewHERTZ GLOBAL HLDGS INCcall$4,788,0003,0000.08%
TPX NewTEMPUR SEALY INTL INC$3,669,00050,0000.06%
IWM NewISHARES TRput$3,110,0002000.05%
DESP NewDESPEGAR COM CORP$2,549,000183,5260.04%
RLGY NewREALOGY HLDGS CORP$2,534,000350,0000.04%
MMYT NewMAKEMYTRIP LIMITED MAURITIUS$2,510,000101,2000.04%
EVER NewEVERQUOTE INC$1,625,000125,0000.03%
PENN NewPENN NATL GAMING INC$1,445,00075,0000.02%
DVD NewDOVER MOTORSPORTS INC$1,227,000590,0000.02%
ZIXI NewZIX CORP$654,00071,9000.01%
FLEX NewFLEX LTDord$95,0009,9100.00%
Q4 2018
 Value Shares↓ Weighting
DVD ExitDOVER MOTORSPORTS INC$0-671,931-0.02%
QNST ExitQUINSTREET INC$0-180,000-0.03%
DDE ExitDOVER DOWNS GAMING & ENTMT I$0-915,000-0.03%
MMYT ExitMAKEMYTRIP LIMITED MAURITIUS$0-101,200-0.03%
DESP ExitDESPEGAR COM CORP$0-183,526-0.04%
ABC ExitAMERISOURCEBERGEN CORP$0-50,000-0.05%
DKS ExitDICKS SPORTING GOODS INC$0-150,000-0.06%
VLRS ExitCONTROLADORA VUELA CIA DE AVspon adr rp 10$0-729,600-0.06%
GWR ExitGENESEE & WYO INCcl a$0-60,000-0.06%
SWN ExitSOUTHWESTERN ENERGY CO$0-1,100,000-0.06%
MLCO ExitMELCO RESORT ENTERTAINMENT Ladr$0-275,000-0.07%
TREE ExitLENDINGTREE INC NEW$0-26,400-0.07%
BMCH ExitBMC STK HLDGS INC$0-344,000-0.07%
CAR ExitAVIS BUDGET GROUP$0-204,000-0.08%
STAY ExitEXTENDED STAY AMER INCunit 99/99/9999b$0-475,000-0.11%
ExitCAESARS ENTMT CORPnote 5.000%10/0$0-5,933,044-0.11%
SEM ExitSELECT MED HLDGS CORP$0-617,408-0.13%
WBS ExitWEBSTER FINL CORP CONN$0-210,100-0.14%
CI ExitCIGNA CORPORATION$0-70,000-0.17%
PFSI ExitPENNYMAC FINL SVCS INCcl a$0-700,000-0.17%
TUESQ ExitTUESDAY MORNING CORP$0-4,568,600-0.17%
TVTY ExitTIVITY HEALTH INC$0-477,042-0.18%
SEMG ExitSEMGROUP CORPcl a$0-762,779-0.19%
ANGI ExitANGI HOMESERVICES INC$0-802,040-0.22%
ANTM ExitANTHEM INC$0-70,000-0.22%
EHTH ExitEHEALTH INC$0-711,517-0.23%
CVNA ExitCARVANA COcl a$0-346,163-0.24%
EXP ExitEAGLE MATERIALS INC$0-274,781-0.27%
WYNN ExitWYNN RESORTS LTD$0-185,000-0.27%
BCEI ExitBONANZA CREEK ENERGY INC$0-813,000-0.28%
YELP ExitYELP INCcl a$0-500,000-0.28%
GRPN ExitGROUPON INC$0-6,950,000-0.30%
AAP ExitADVANCE AUTO PARTS INC$0-180,000-0.35%
MGM ExitMGM RESORTS INTERNATIONAL$0-1,230,000-0.39%
SYF ExitSYNCHRONY FINL$0-1,110,000-0.40%
ORLY ExitO REILLY AUTOMOTIVE INC NEW$0-100,000-0.40%
TSG ExitSTARS GROUP INC$0-1,604,843-0.46%
RRR ExitRED ROCK RESORTS INCcl a$0-1,629,000-0.50%
HOME ExitAT HOME GROUP INC$0-1,428,500-0.52%
DOOR ExitMASONITE INTL CORP NEW$0-748,926-0.55%
CSGP ExitCOSTAR GROUP INC$0-115,000-0.56%
PENN ExitPENN NATL GAMING INC$0-1,859,904-0.70%
JBLU ExitJETBLUE AIRWAYS CORP$0-3,193,290-0.71%
V ExitVISA INC$0-450,000-0.78%
PCYO ExitPURECYCLE CORP$0-5,982,970-0.79%
FB ExitFACEBOOK INCcl a$0-457,800-0.86%
TRVG ExitTRIVAGO N V$0-13,105,000-0.93%
ENT ExitGLOBAL EAGLE ENTMT INC$0-28,981,072-0.94%
WMS ExitADVANCED DRAIN SYS INC DEL$0-2,737,000-0.97%
WMB ExitWILLIAMS COS INC DEL$0-3,432,100-1.07%
HTZGQ ExitHERTZ GLOBAL HLDGS INC$0-5,888,576-1.10%
HRI ExitHERC HLDGS INC$0-1,907,400-1.12%
DY ExitDYCOM INDS INC$0-1,183,200-1.15%
STMP ExitSTAMPS COM INC$0-461,817-1.20%
TPX ExitTEMPUR SEALY INTL INC$0-2,048,000-1.24%
CONN ExitCONNS INC$0-3,077,166-1.25%
TRIP ExitTRIPADVISOR INC$0-2,387,893-1.40%
OC ExitOWENS CORNING NEW$0-2,263,230-1.41%
TRUE ExitTRUECAR INC$0-8,968,152-1.45%
DVA ExitDAVITA INC$0-1,812,700-1.49%
WEX ExitWEX INC$0-685,000-1.58%
IGT ExitINTERNATIONAL GAME TECHNOLOG$0-8,075,694-1.83%
CZR ExitCAESARS ENTMT CORP$0-15,614,986-1.84%
WLL ExitWHITING PETE CORP NEW$0-3,218,750-1.96%
ALK ExitALASKA AIR GROUP INC$0-2,500,000-1.98%
GLPI ExitGAMING & LEISURE PPTYS INC$0-4,951,040-2.00%
CTRP ExitCTRIP COM INTL LTD$0-5,056,200-2.16%
ERI ExitELDORADO RESORTS INC$0-3,926,940-2.19%
CHDN ExitCHURCHILL DOWNS INC$0-693,966-2.21%
ALGT ExitALLEGIANT TRAVEL CO$0-1,583,000-2.30%
BYD ExitBOYD GAMING CORP$0-6,427,071-2.50%
BKNG ExitBOOKING HLDGS INC$0-138,505-3.15%
LUV ExitSOUTHWEST AIRLS CO$0-4,867,800-3.49%
MCK ExitMCKESSON CORP$0-3,300,000-5.02%
DAL ExitDELTA AIR LINES INC DEL$0-13,265,809-8.80%
EXPE ExitEXPEDIA GROUP INC$0-7,964,254-11.93%
UAL ExitUNITED CONTL HLDGS INC$0-15,624,152-15.97%
Q3 2018
 Value Shares↓ Weighting
UAL BuyUNITED CONTL HLDGS INC$1,391,487,000
+28.1%
15,624,152
+0.3%
15.97%
+30.7%
EXPE SellEXPEDIA GROUP INC$1,039,176,000
+7.8%
7,964,254
-0.7%
11.93%
+10.0%
DAL SellDELTA AIR LINES INC DEL$767,162,000
+15.9%
13,265,809
-0.7%
8.80%
+18.2%
MCK SellMCKESSON CORP$437,745,000
-21.4%
3,300,000
-21.0%
5.02%
-19.8%
BYD BuyBOYD GAMING CORP$217,556,000
+1.1%
6,427,071
+3.5%
2.50%
+3.1%
ALGT NewALLEGIANT TRAVEL CO$200,724,0001,583,0002.30%
CHDN SellCHURCHILL DOWNS INC$192,714,000
-22.6%
693,966
-17.4%
2.21%
-21.1%
ERI SellELDORADO RESORTS INC$190,849,000
-10.1%
3,926,940
-27.6%
2.19%
-8.2%
CTRP BuyCTRIP COM INTL LTD$187,939,000
+9765.6%
5,056,200
+12540.5%
2.16%
+10171.4%
GLPI SellGAMING & LEISURE PPTYS INC$174,524,000
-20.3%
4,951,040
-19.0%
2.00%
-18.6%
CZR BuyCAESARS ENTMT CORP$160,054,000
+9.9%
15,614,986
+14.7%
1.84%
+12.1%
IGT BuyINTERNATIONAL GAME TECHNOLOG$159,495,000
-1.3%
8,075,694
+16.1%
1.83%
+0.7%
DVA BuyDAVITA INC$129,844,000
+23.6%
1,812,700
+19.8%
1.49%
+26.1%
OC BuyOWENS CORNING NEW$122,825,000
-9.4%
2,263,230
+5.8%
1.41%
-7.5%
TRIP SellTRIPADVISOR INC$121,950,000
-21.9%
2,387,893
-14.8%
1.40%
-20.3%
CONN BuyCONNS INC$108,778,000
+8.7%
3,077,166
+1.5%
1.25%
+10.9%
STMP BuySTAMPS COM INC$104,463,000
+0.2%
461,817
+12.1%
1.20%
+2.3%
DY BuyDYCOM INDS INC$100,099,000
-2.1%
1,183,200
+9.4%
1.15%
-0.1%
HRI BuyHERC HLDGS INC$97,659,000
+8.3%
1,907,400
+19.2%
1.12%
+10.6%
WMB SellWILLIAMS COS INC DEL$93,319,000
-6.0%
3,432,100
-6.3%
1.07%
-4.1%
TRVG BuyTRIVAGO N V$80,727,000
+191.3%
13,105,000
+114.7%
0.93%
+197.1%
FB SellFACEBOOK INCcl a$75,290,000
-44.5%
457,800
-34.4%
0.86%
-43.3%
HOME BuyAT HOME GROUP INC$45,041,000
+23.9%
1,428,500
+53.9%
0.52%
+26.4%
RRR SellRED ROCK RESORTS INCcl a$43,413,000
-32.1%
1,629,000
-14.7%
0.50%
-30.7%
TSG BuySTARS GROUP INC$39,961,000
+11.4%
1,604,843
+62.4%
0.46%
+13.9%
SYF BuySYNCHRONY FINL$34,499,000
-1.3%
1,110,000
+6.0%
0.40%
+0.8%
GRPN BuyGROUPON INC$26,202,000
+25.1%
6,950,000
+42.7%
0.30%
+27.5%
YELP NewYELP INCcl a$24,600,000500,0000.28%
BCEI BuyBONANZA CREEK ENERGY INC$24,211,000
-15.1%
813,000
+8.0%
0.28%
-13.4%
WYNN BuyWYNN RESORTS LTD$23,506,000
+40.5%
185,000
+85.0%
0.27%
+43.6%
CVNA SellCARVANA COcl a$20,455,000
+34.0%
346,163
-5.6%
0.24%
+36.6%
EHTH SellEHEALTH INC$20,107,000
+11.8%
711,517
-12.6%
0.23%
+14.4%
ANTM NewANTHEM INC$19,184,00070,0000.22%
TVTY SellTIVITY HEALTH INC$15,337,000
-54.2%
477,042
-49.9%
0.18%
-53.3%
PFSI BuyPENNYMAC FINL SVCS INCcl a$14,630,000
+9.8%
700,000
+3.3%
0.17%
+12.0%
CI NewCIGNA CORPORATION$14,578,00070,0000.17%
STAY NewEXTENDED STAY AMER INCunit 99/99/9999b$9,609,000475,0000.11%
CAR BuyAVIS BUDGET GROUP$6,557,000
+23.0%
204,000
+24.4%
0.08%
+25.0%
BMCH SellBMC STK HLDGS INC$6,416,000
-60.3%
344,000
-55.6%
0.07%
-59.3%
MLCO BuyMELCO RESORT ENTERTAINMENT Ladr$5,816,000
+38.5%
275,000
+83.3%
0.07%
+42.6%
SWN SellSOUTHWESTERN ENERGY CO$5,621,000
-55.8%
1,100,000
-54.2%
0.06%
-54.5%
VLRS BuyCONTROLADORA VUELA CIA DE AVspon adr rp 10$5,443,000
+52.1%
729,600
+3.5%
0.06%
+55.0%
DDE NewDOVER DOWNS GAMING & ENTMT I$2,599,000915,0000.03%
ARLZ ExitARALEZ PHARMACEUTICALS INC$0-481,400-0.00%
PAGP ExitPLAINS GP HLDGS L Pltd partnr int a$0-350,000-0.09%
CSX ExitCSX CORP$0-388,000-0.28%
APC ExitANADARKO PETE CORP$0-500,000-0.41%
AAL ExitAMERICAN AIRLS GROUP INC$0-1,318,851-0.56%
SERV ExitSERVICEMASTER GLOBAL HLDGS I$0-1,072,500-0.72%
EVHC ExitENVISION HEALTHCARE CORP$0-1,850,000-0.92%
ZG ExitZILLOW GROUP INCcl a$0-1,693,600-1.14%
CHGG ExitCHEGG INC$0-4,621,948-1.44%
Z ExitZILLOW GROUP INCcl c cap stk$0-3,882,041-2.58%
GRUB ExitGRUBHUB INC$0-2,831,400-3.34%
Q2 2018
 Value Shares↓ Weighting
UAL NewUNITED CONTL HLDGS INC$1,085,986,00015,574,15212.22%
EXPE NewEXPEDIA GROUP INC$963,677,0008,017,94410.84%
DAL NewDELTA AIR LINES INC DEL$662,142,00013,365,8097.45%
MCK NewMCKESSON CORP$557,145,0004,176,5006.27%
GRUB NewGRUBHUB INC$297,042,0002,831,4003.34%
BKNG NewBOOKING HLDGS INC$280,762,000138,5053.16%
CHDN NewCHURCHILL DOWNS INC$249,050,000839,9662.80%
LUV NewSOUTHWEST AIRLS CO$247,674,0004,867,8002.79%
Z NewZILLOW GROUP INCcl c cap stk$229,273,0003,882,0412.58%
GLPI NewGAMING & LEISURE PPTYS INC$218,852,0006,113,1722.46%
BYD NewBOYD GAMING CORP$215,207,0006,209,1012.42%
ERI NewELDORADO RESORTS INC$212,193,0005,426,9402.39%
WLL NewWHITING PETE CORP NEW$169,693,0003,218,7501.91%
IGT NewINTERNATIONAL GAME TECHNOLOG$161,634,0006,955,0001.82%
TRIP NewTRIPADVISOR INC$156,209,0002,803,9691.76%
ALK NewALASKA AIR GROUP INC$150,975,0002,500,0001.70%
CZR NewCAESARS ENTMT CORP$145,662,00013,613,2571.64%
FB NewFACEBOOK INCcl a$135,596,000697,8001.52%
OC NewOWENS CORNING NEW$135,500,0002,138,2301.52%
WEX NewWEX INC$130,479,000685,0001.47%
CHGG NewCHEGG INC$128,444,0004,621,9481.44%
DVA NewDAVITA INC$105,042,0001,512,7001.18%
STMP NewSTAMPS COM INC$104,210,000411,8171.17%
DY NewDYCOM INDS INC$102,260,0001,082,0001.15%
ZG NewZILLOW GROUP INCcl a$101,193,0001,693,6001.14%
CONN NewCONNS INC$100,055,0003,031,9661.13%
WMB NewWILLIAMS COS INC DEL$99,280,0003,662,1001.12%
TPX NewTEMPUR SEALY INTL INC$98,406,0002,048,0001.11%
TRUE NewTRUECAR INC$90,489,0008,968,1521.02%
HTZGQ NewHERTZ GLOBAL HLDGS INC$90,331,0005,888,5761.02%
HRI NewHERC HLDGS INC$90,144,0001,600,0001.01%
EVHC NewENVISION HEALTHCARE CORP$81,419,0001,850,0000.92%
WMS NewADVANCED DRAIN SYS INC DEL$78,141,0002,737,0000.88%
ENT NewGLOBAL EAGLE ENTMT INC$73,032,00028,981,0720.82%
RRR NewRED ROCK RESORTS INCcl a$63,952,0001,909,0000.72%
SERV NewSERVICEMASTER GLOBAL HLDGS I$63,782,0001,072,5000.72%
PENN NewPENN NATL GAMING INC$62,474,0001,859,9040.70%
JBLU NewJETBLUE AIRWAYS CORP$60,609,0003,193,2900.68%
V NewVISA INC$59,603,000450,0000.67%
PCYO NewPURECYCLE CORP$57,137,0005,982,9700.64%
DOOR NewMASONITE INTL CORP NEW$53,810,000748,9260.60%
AAL NewAMERICAN AIRLS GROUP INC$50,064,0001,318,8510.56%
CSGP NewCOSTAR GROUP INC$47,452,000115,0000.53%
APC NewANADARKO PETE CORP$36,625,000500,0000.41%
HOME NewAT HOME GROUP INC$36,351,000928,5000.41%
TSG NewSTARS GROUP INC$35,866,000988,0430.40%
MGM NewMGM RESORTS INTERNATIONAL$35,707,0001,230,0000.40%
SYF NewSYNCHRONY FINL$34,940,0001,046,7420.39%
TVTY NewTIVITY HEALTH INC$33,499,000951,6830.38%
EXP NewEAGLE MATERIALS INC$28,844,000274,7810.32%
BCEI NewBONANZA CREEK ENERGY INC$28,516,000753,0000.32%
TRVG NewTRIVAGO N V$27,717,0006,105,0000.31%
ORLY NewO REILLY AUTOMOTIVE INC NEW$27,357,000100,0000.31%
CSX NewCSX CORP$24,747,000388,0000.28%
AAP NewADVANCE AUTO PARTS INC$24,426,000180,0000.28%
GRPN NewGROUPON INC$20,942,0004,870,2000.24%
SEMG NewSEMGROUP CORPcl a$19,375,000762,7790.22%
EHTH NewEHEALTH INC$17,986,000813,8560.20%
WYNN NewWYNN RESORTS LTD$16,734,000100,0000.19%
BMCH NewBMC STK HLDGS INC$16,163,000775,2000.18%
CVNA NewCARVANA COcl a$15,260,000366,8350.17%
TUESQ NewTUESDAY MORNING CORP$13,934,0004,568,6000.16%
WBS NewWEBSTER FINL CORP CONN$13,383,000210,1000.15%
PFSI NewPENNYMAC FINL SVCS INCcl a$13,319,000677,8000.15%
SWN NewSOUTHWESTERN ENERGY CO$12,720,0002,400,0000.14%
ANGI NewANGI HOMESERVICES INC$12,335,000802,0400.14%
SEM NewSELECT MED HLDGS CORP$11,206,000617,4080.13%
NewCAESARS ENTMT CORPnote 5.000%10/0$10,241,0005,933,0440.12%
PAGP NewPLAINS GP HLDGS L Pltd partnr int a$8,369,000350,0000.09%
TREE NewLENDINGTREE INC NEW$5,644,00026,4000.06%
CAR NewAVIS BUDGET GROUP$5,330,000164,0000.06%
DKS NewDICKS SPORTING GOODS INC$5,288,000150,0000.06%
GWR NewGENESEE & WYO INCcl a$4,879,00060,0000.06%
ABC NewAMERISOURCEBERGEN CORP$4,264,00050,0000.05%
MLCO NewMELCO RESORT ENTERTAINMENT Ladr$4,200,000150,0000.05%
DESP NewDESPEGAR COM CORP$3,849,000183,5260.04%
MMYT NewMAKEMYTRIP LIMITED MAURITIUS$3,658,000101,2000.04%
VLRS NewCONTROLADORA VUELA CIA DE AVspon adr rp 10$3,579,000704,6000.04%
QNST NewQUINSTREET INC$2,286,000180,0000.03%
CTRP NewCTRIP COM INTL LTD$1,905,00040,0000.02%
DVD NewDOVER MOTORSPORTS INC$1,512,000671,9310.02%
ARLZ NewARALEZ PHARMACEUTICALS INC$168,000481,4000.00%
Q4 2017
 Value Shares↓ Weighting
BV ExitBAZAARVOICE INC$0-60,000-0.00%
LC ExitLENDINGCLUB CORP$0-80,000-0.01%
WIX ExitWIX COM LTD$0-9,000-0.01%
GDDY ExitGODADDY INCcl a$0-17,000-0.01%
WEB ExitWEB COM GROUP INC$0-38,202-0.01%
PNK ExitPINNACLE ENTMT INC NEW$0-50,854-0.01%
RATE ExitBANKRATE INC DEL$0-79,000-0.01%
DVD ExitDOVER MOTORSPORTS INC$0-671,931-0.02%
CTRP ExitCTRIP COM INTL LTD$0-40,000-0.02%
PAGP ExitPLAINS GP HLDGS L Pltd partnr int a$0-100,000-0.02%
XON ExitINTREXON CORP$0-176,410-0.04%
DKS ExitDICKS SPORTING GOODS INC$0-150,000-0.05%
CVNA ExitCARVANA COcl a$0-411,000-0.07%
QTWO ExitQ2 HLDGS INC$0-165,000-0.08%
FB ExitFACEBOOK INCcl a$0-40,000-0.08%
FRC ExitFIRST REP BK SAN FRANCISCO C$0-80,000-0.10%
SYF ExitSYNCHRONY FINL$0-300,000-0.11%
PFSI ExitPENNYMAC FINL SVCS INCcl a$0-550,000-0.11%
EHTH ExitEHEALTH INC$0-450,858-0.12%
WBS ExitWEBSTER FINL CORP CONN$0-210,100-0.12%
PGTI ExitPGT INNOVATIONS INC$0-761,394-0.13%
SEM ExitSELECT MED HLDGS CORP$0-617,208-0.14%
CACQ ExitCAESARS ACQUISITION COcl a$0-560,719-0.14%
AAP ExitADVANCE AUTO PARTS INC$0-125,000-0.14%
TVTY ExitTIVITY HEALTH INC$0-340,000-0.16%
TUESQ ExitTUESDAY MORNING CORP$0-4,438,200-0.16%
BCEI ExitBONANZA CREEK ENERGY INC$0-436,900-0.16%
ARLZ ExitARALEZ PHARMACEUTICALS INC$0-6,400,000-0.17%
GRPN ExitGROUPON INC$0-3,370,200-0.20%
RAD ExitRITE AID CORP$0-9,000,000-0.20%
PRSC ExitPROVIDENCE SVC CORP$0-350,000-0.22%
BMCH ExitBMC STK HLDGS INC$0-975,200-0.24%
APC ExitANADARKO PETE CORP$0-500,000-0.28%
SEMG ExitSEMGROUP CORPcl a$0-877,600-0.29%
ORLY ExitO REILLY AUTOMOTIVE INC NEW$0-125,000-0.31%
EXP ExitEAGLE MATERIALS INC$0-274,781-0.33%
CSGP ExitCOSTAR GROUP INC$0-115,000-0.35%
TRVG ExitTRIVAGO N V$0-3,000,000-0.37%
CSX ExitCSX CORP$0-725,000-0.45%
STMP ExitSTAMPS COM INC$0-203,717-0.47%
CP ExitCANADIAN PAC RY LTD$0-246,450-0.47%
V ExitVISA INC$0-400,000-0.48%
PENN ExitPENN NATL GAMING INC$0-1,808,113-0.48%
PCYO ExitPURECYCLE CORP$0-5,982,970-0.51%
WLL ExitWHITING PETE CORP NEW$0-8,965,000-0.56%
SERV ExitSERVICEMASTER GLOBAL HLDGS I$0-1,072,500-0.57%
DOOR ExitMASONITE INTL CORP NEW$0-738,926-0.58%
WMS ExitADVANCED DRAIN SYS INC DEL$0-2,737,000-0.63%
JBLU ExitJETBLUE AIRWAYS CORP$0-3,193,290-0.67%
ZG ExitZILLOW GROUP INCcl a$0-1,617,910-0.74%
HRI ExitHERC HLDGS INC$0-1,329,000-0.74%
WMB ExitWILLIAMS COS INC DEL$0-2,335,000-0.80%
WEX ExitWEX INC$0-660,000-0.84%
TRUE ExitTRUECAR INC$0-4,828,447-0.87%
AAL ExitAMERICAN AIRLS GROUP INC$0-1,666,351-0.90%
CONN ExitCONNS INC$0-3,040,000-0.97%
DY ExitDYCOM INDS INC$0-1,000,000-0.98%
RRR ExitRED ROCK RESORTS INCcl a$0-3,948,000-1.04%
CHGG ExitCHEGG INC$0-6,241,298-1.05%
IGT ExitINTERNATIONAL GAME TECHNOLOG$0-3,832,599-1.07%
MGM ExitMGM RESORTS INTERNATIONAL$0-2,962,700-1.10%
ENT ExitGLOBAL EAGLE ENTMT INC$0-28,981,072-1.13%
TRIP ExitTRIPADVISOR INC$0-2,695,569-1.24%
HTZGQ ExitHERTZ GLOBAL HLDGS INC$0-5,888,576-1.50%
TPX ExitTEMPUR SEALY INTL INC$0-2,048,000-1.50%
Z ExitZILLOW GROUP INCcl c cap stk$0-3,882,041-1.77%
HCA ExitHCA HEALTHCARE INC$0-2,000,000-1.81%
OC ExitOWENS CORNING NEW$0-2,151,015-1.89%
CHDN ExitCHURCHILL DOWNS INC$0-813,165-1.90%
GLPI ExitGAMING & LEISURE PPTYS INC$0-4,646,797-1.95%
ALK ExitALASKA AIR GROUP INC$0-2,500,000-2.17%
ERI ExitELDORADO RESORTS INC$0-7,474,779-2.18%
BYD ExitBOYD GAMING CORP$0-9,256,701-2.74%
CAR ExitAVIS BUDGET GROUP$0-6,400,608-2.77%
PCLN ExitPRICELINE GRP INC$0-138,005-2.87%
CI ExitCIGNA CORPORATION$0-1,500,000-3.19%
LUV ExitSOUTHWEST AIRLS CO$0-5,625,200-3.58%
GRUB ExitGRUBHUB INC$0-5,989,700-3.58%
MCK ExitMCKESSON CORP$0-3,776,200-6.59%
DAL ExitDELTA AIR LINES INC DEL$0-13,112,809-7.18%
EXPE ExitEXPEDIA INC DEL$0-7,808,983-12.77%
UAL ExitUNITED CONTL HLDGS INC$0-19,930,359-13.79%
Q3 2017
 Value Shares↓ Weighting
UAL BuyUNITED CONTL HLDGS INC$1,213,360,000
-1.0%
19,930,359
+22.3%
13.79%
+0.1%
EXPE SellEXPEDIA INC DEL$1,124,025,000
-3.4%
7,808,983
-0.1%
12.77%
-2.3%
DAL BuyDELTA AIR LINES INC DEL$632,300,000
-9.9%
13,112,809
+0.4%
7.18%
-8.9%
MCK BuyMCKESSON CORP$580,062,000
+7.9%
3,776,200
+15.6%
6.59%
+9.2%
GRUB SellGRUBHUB INC$315,418,000
+7.7%
5,989,700
-10.8%
3.58%
+9.0%
LUV BuySOUTHWEST AIRLS CO$314,899,000
-9.8%
5,625,200
+0.1%
3.58%
-8.7%
CI SellCIGNA CORPORATION$280,410,000
-38.0%
1,500,000
-44.4%
3.19%
-37.2%
CAR SellAVIS BUDGET GROUP$243,607,000
+36.6%
6,400,608
-2.1%
2.77%
+38.2%
OC SellOWENS CORNING NEW$166,381,000
+1.7%
2,151,015
-12.0%
1.89%
+2.8%
MGM SellMGM RESORTS INTERNATIONAL$96,554,000
-21.8%
2,962,700
-24.9%
1.10%
-20.9%
IGT BuyINTERNATIONAL GAME TECHNOLOG$94,090,000
+37.5%
3,832,599
+2.5%
1.07%
+39.2%
RRR BuyRED ROCK RESORTS INCcl a$91,436,000
+64.4%
3,948,000
+67.1%
1.04%
+66.2%
DY BuyDYCOM INDS INC$85,880,000
+27.9%
1,000,000
+33.3%
0.98%
+29.4%
CONN BuyCONNS INC$85,576,000
+49.3%
3,040,000
+1.3%
0.97%
+50.9%
WEX BuyWEX INC$74,065,000
+9.3%
660,000
+1.5%
0.84%
+10.5%
WMB SellWILLIAMS COS INC DEL$70,073,000
-31.6%
2,335,000
-31.0%
0.80%
-30.8%
HRI BuyHERC HLDGS INC$65,294,000
+26.9%
1,329,000
+1.5%
0.74%
+28.4%
DOOR BuyMASONITE INTL CORP NEW$51,134,000
+42.6%
738,926
+55.6%
0.58%
+44.2%
WLL BuyWHITING PETE CORP NEW$48,949,000
+17.4%
8,965,000
+18.5%
0.56%
+18.8%
STMP BuySTAMPS COM INC$41,283,000
+305.6%
203,717
+210.0%
0.47%
+311.4%
CSX SellCSX CORP$39,339,000
-36.2%
725,000
-35.8%
0.45%
-35.4%
TRVG SellTRIVAGO N V$32,550,000
-77.9%
3,000,000
-51.9%
0.37%
-77.7%
ORLY BuyO REILLY AUTOMOTIVE INC NEW$26,921,000
+64.1%
125,000
+66.7%
0.31%
+66.3%
APC BuyANADARKO PETE CORP$24,425,000
+111.3%
500,000
+96.1%
0.28%
+113.8%
GRPN BuyGROUPON INC$17,525,000
+230.7%
3,370,200
+144.2%
0.20%
+231.7%
BCEI BuyBONANZA CREEK ENERGY INC$14,413,000
+55.3%
436,900
+49.3%
0.16%
+57.7%
AAP NewADVANCE AUTO PARTS INC$12,400,000125,0000.14%
PGTI SellPGT INNOVATIONS INC$11,383,000
-23.4%
761,394
-34.4%
0.13%
-22.8%
WBS BuyWEBSTER FINL CORP CONN$11,041,000
+32.1%
210,100
+31.3%
0.12%
+33.0%
EHTH BuyEHEALTH INC$10,771,000
+663.9%
450,858
+501.1%
0.12%
+662.5%
PFSI BuyPENNYMAC FINL SVCS INCcl a$9,790,000
+12.7%
550,000
+5.8%
0.11%
+13.3%
CVNA BuyCARVANA COcl a$6,033,000
+474.6%
411,000
+701.2%
0.07%
+475.0%
DKS NewDICKS SPORTING GOODS INC$4,052,000150,0000.05%
PAGP NewPLAINS GP HLDGS L Pltd partnr int a$2,187,000100,0000.02%
RATE SellBANKRATE INC DEL$1,102,000
-58.9%
79,000
-62.2%
0.01%
-56.7%
WEB NewWEB COM GROUP INC$955,00038,2020.01%
GDDY NewGODADDY INCcl a$740,00017,0000.01%
WIX BuyWIX COM LTD$647,000
+132.7%
9,000
+125.0%
0.01%
+133.3%
LC NewLENDINGCLUB CORP$487,00080,0000.01%
BV SellBAZAARVOICE INC$297,000
-33.4%
60,000
-33.3%
0.00%
-40.0%
BV ExitBAZAARVOICE INCput$0-30,000-0.00%
CCRN ExitCROSS CTRY HEALTHCARE INC$0-24,000-0.00%
NCI ExitNAVIGANT CONSULTING INC$0-12,000-0.00%
TWLO ExitTWILIO INCcl a$0-15,000-0.01%
VLRS ExitCONTROLADORA VUELA CIA DE AVspon adr rp 10$0-34,600-0.01%
HUBS ExitHUBSPOT INC$0-10,000-0.01%
OLLI ExitOLLIES BARGAIN OUTLT HLDGS I$0-76,665-0.04%
THC ExitTENET HEALTHCARE CORP$0-600,000-0.13%
TREE ExitLENDINGTREE INC NEW$0-82,469-0.16%
Q2 2017
 Value Shares↓ Weighting
UAL NewUNITED CONTL HLDGS INC$1,226,177,00016,294,71113.77%
EXPE NewEXPEDIA INC DEL$1,164,042,0007,814,98313.07%
DAL NewDELTA AIR LINES INC DEL$702,157,00013,065,8097.89%
MCK NewMCKESSON CORP$537,421,0003,266,2006.04%
CI NewCIGNA CORPORATION$451,953,0002,700,0005.08%
LUV NewSOUTHWEST AIRLS CO$349,115,0005,618,2003.92%
GRUB NewGRUBHUB INC$292,861,0006,717,0003.29%
PCLN NewPRICELINE GRP INC$258,141,000138,0052.90%
BYD NewBOYD GAMING CORP$229,659,0009,256,7012.58%
ALK NewALASKA AIR GROUP INC$224,400,0002,500,0002.52%
Z NewZILLOW GROUP INCcl c cap stk$190,259,0003,882,0412.14%
CAR NewAVIS BUDGET GROUP$178,362,0006,540,6082.00%
GLPI NewGAMING & LEISURE PPTYS INC$175,045,0004,646,7971.97%
HCA NewHCA HEALTHCARE INC$174,400,0002,000,0001.96%
OC NewOWENS CORNING NEW$163,603,0002,444,7621.84%
ERI NewELDORADO RESORTS INC$149,496,0007,474,7791.68%
CHDN NewCHURCHILL DOWNS INC$149,053,000813,1651.67%
TRVG NewTRIVAGO N V$147,496,0006,234,0001.66%
MGM NewMGM RESORTS INTERNATIONAL$123,433,0003,944,8001.39%
TPX NewTEMPUR SEALY INTL INC$109,343,0002,048,0001.23%
ENT NewGLOBAL EAGLE ENTMT INC$103,173,00028,981,0721.16%
TRIP NewTRIPADVISOR INC$102,971,0002,695,5691.16%
WMB NewWILLIAMS COS INC DEL$102,498,0003,385,0001.15%
TRUE NewTRUECAR INC$96,231,0004,828,4471.08%
AAL NewAMERICAN AIRLS GROUP INC$83,851,0001,666,3510.94%
ZG NewZILLOW GROUP INCcl a$79,019,0001,617,9100.89%
CHGG NewCHEGG INC$76,706,0006,241,2980.86%
JBLU NewJETBLUE AIRWAYS CORP$72,903,0003,193,2900.82%
IGT NewINTERNATIONAL GAME TECHNOLOG$68,420,0003,738,7760.77%
WEX NewWEX INC$67,776,000650,0000.76%
HTZGQ NewHERTZ GLOBAL HLDGS INC$67,719,0005,888,5760.76%
DY NewDYCOM INDS INC$67,140,000750,0000.75%
CSX NewCSX CORP$61,653,0001,130,0000.69%
CONN NewCONNS INC$57,300,0003,000,0000.64%
RRR NewRED ROCK RESORTS INCcl a$55,626,0002,362,0320.62%
WMS NewADVANCED DRAIN SYS INC DEL$55,014,0002,737,0000.62%
HRI NewHERC HLDGS INC$51,470,0001,309,0000.58%
PCYO NewPURECYCLE CORP$46,368,0005,982,9700.52%
SERV NewSERVICEMASTER GLOBAL HLDGS I$42,031,0001,072,5000.47%
WLL NewWHITING PETE CORP NEW$41,683,0007,565,0000.47%
CP NewCANADIAN PAC RY LTD$39,632,000246,4500.44%
PENN NewPENN NATL GAMING INC$38,694,0001,808,1130.44%
V NewVISA INC$37,512,000400,0000.42%
DOOR NewMASONITE INTL CORP NEW$35,863,000475,0000.40%
CSGP NewCOSTAR GROUP INC$30,314,000115,0000.34%
RAD NewRITE AID CORP$26,550,0009,000,0000.30%
EXP NewEAGLE MATERIALS INC$25,395,000274,7810.28%
SEMG NewSEMGROUP CORPcl a$23,695,000877,6000.27%
BMCH NewBMC STK HLDGS INC$21,308,000975,2000.24%
PRSC NewPROVIDENCE SVC CORP$17,714,000350,0000.20%
ORLY NewO REILLY AUTOMOTIVE INC NEW$16,406,00075,0000.18%
PGTI NewPGT INNOVATIONS INC$14,866,0001,161,3940.17%
TREE NewLENDINGTREE INC NEW$14,201,00082,4690.16%
TVTY NewTIVITY HEALTH INC$13,549,000340,0000.15%
THC NewTENET HEALTHCARE CORP$11,604,000600,0000.13%
APC NewANADARKO PETE CORP$11,562,000255,0000.13%
CACQ NewCAESARS ACQUISITION COcl a$10,682,000560,7190.12%
STMP NewSTAMPS COM INC$10,178,00065,7170.11%
SEM NewSELECT MED HLDGS CORP$9,474,000617,2080.11%
BCEI NewBONANZA CREEK ENERGY INC$9,282,000292,7000.10%
SYF NewSYNCHRONY FINL$8,946,000300,0000.10%
PFSI NewPENNYMAC FINL SVCS INCcl a$8,684,000520,0000.10%
ARLZ NewARALEZ PHARMACEUTICALS INC$8,640,0006,400,0000.10%
TUESQ NewTUESDAY MORNING CORP$8,433,0004,438,2000.10%
WBS NewWEBSTER FINL CORP CONN$8,355,000160,0000.09%
FRC NewFIRST REP BK SAN FRANCISCO C$8,008,00080,0000.09%
QTWO NewQ2 HLDGS INC$6,097,000165,0000.07%
FB NewFACEBOOK INCcl a$6,039,00040,0000.07%
GRPN NewGROUPON INC$5,299,0001,380,0000.06%
XON NewINTREXON CORP$4,250,000176,4100.05%
OLLI NewOLLIES BARGAIN OUTLT HLDGS I$3,266,00076,6650.04%
RATE NewBANKRATE INC DEL$2,683,000208,7940.03%
CTRP NewCTRIP COM INTL LTD$2,154,00040,0000.02%
DVD NewDOVER MOTORSPORTS INC$1,411,000671,9310.02%
EHTH NewEHEALTH INC$1,410,00075,0000.02%
CVNA NewCARVANA COcl a$1,050,00051,3000.01%
PNK NewPINNACLE ENTMT INC NEW$1,005,00050,8540.01%
HUBS NewHUBSPOT INC$658,00010,0000.01%
VLRS NewCONTROLADORA VUELA CIA DE AVspon adr rp 10$503,00034,6000.01%
BV NewBAZAARVOICE INC$446,00090,0000.01%
TWLO NewTWILIO INCcl a$437,00015,0000.01%
WIX NewWIX COM LTD$278,0004,0000.00%
CCRN NewCROSS CTRY HEALTHCARE INC$310,00024,0000.00%
NCI NewNAVIGANT CONSULTING INC$237,00012,0000.00%
BV NewBAZAARVOICE INCput$147,00030,0000.00%
Q4 2016
 Value Shares↓ Weighting
GOOGL ExitALPHABET INCcap stk cl a$0-750-0.01%
CSBR ExitCHAMPIONS ONCOLOGY INC$0-384,282-0.01%
MMYT ExitMAKEMYTRIP LIMITED MAURITIUS$0-54,973-0.02%
DOV ExitDOVER CORP$0-671,931-0.02%
SPWH ExitSPORTSMANS WHSE HLDGS INC$0-161,419-0.02%
CTRP ExitCTRIP COM INTL LTD$0-40,000-0.03%
RMGN ExitRMG NETWORKS HLDG CORP$0-2,177,434-0.03%
ExitSTONE ENERGY CORPnote 1.750% 3/0$0-4,509,000-0.04%
RRTS ExitROADRUNNER TRNSN SVCS HLDG I$0-330,000-0.04%
ABC ExitAMERISOURCEBERGEN CORP$0-33,198-0.04%
ETFC ExitE TRADE FINANCIAL CORP$0-105,000-0.04%
PNK ExitPINNACLE ENTMT INC NEW$0-313,428-0.06%
PIR ExitPIER 1 IMPORTS INC$0-1,000,000-0.06%
QTWO ExitQ2 HLDGS INC$0-165,000-0.07%
UNP ExitUNION PAC CORP$0-50,000-0.07%
H ExitHYATT HOTELS CORPput$0-100,000-0.07%
WBS ExitWEBSTER FINL CORP CONN$0-160,000-0.09%
FRC ExitFIRST REP BK SAN FRANCISCO C$0-80,000-0.09%
XHR ExitXENIA HOTELS & RESORTS INC$0-474,211-0.10%
CSX ExitCSX CORP$0-250,000-0.11%
PFSI ExitPENNYMAC FINL SVCS INCcl a$0-455,700-0.11%
ICE ExitINTERCONTINENTAL EXCHANGE IN$0-30,000-0.12%
CMA ExitCOMERICA INC$0-175,400-0.12%
NFX ExitNEWFIELD EXPL CO$0-202,500-0.13%
ITG ExitINVESTMENT TECHNOLOGY GRP NE$0-650,000-0.16%
SEMG ExitSEMGROUP CORPcl a$0-327,500-0.17%
W ExitWAYFAIR INCcl a$0-300,000-0.17%
APC ExitANADARKO PETE CORP$0-187,444-0.17%
PRSC ExitPROVIDENCE SVC CORP$0-250,066-0.18%
PGTI ExitPGT INC$0-1,146,172-0.18%
RRR ExitRED ROCK RESORTS INCcl a$0-535,000-0.18%
OLLI ExitOLLIES BARGAIN OUTLT HLDGS I$0-503,313-0.19%
SF ExitSTIFEL FINL CORP$0-350,000-0.19%
BMCH ExitBMC STK HLDGS INC$0-760,000-0.20%
TUESQ ExitTUESDAY MORNING CORP$0-2,288,000-0.20%
DOOR ExitMASONITE INTL CORP NEW$0-247,000-0.22%
CSGP ExitCOSTAR GROUP INC$0-85,000-0.27%
DKS ExitDICKS SPORTING GOODS INC$0-350,000-0.29%
V ExitVISA INC$0-285,000-0.34%
WLL ExitWHITING PETE CORP NEW$0-3,300,000-0.42%
WYNN ExitWYNN RESORTS LTD$0-315,668-0.44%
ARLZ ExitARALEZ PHARMACEUTICALS INC$0-6,400,000-0.45%
DVA ExitDAVITA INC$0-500,000-0.48%
SGMS ExitSCIENTIFIC GAMES CORPcl a$0-3,024,413-0.49%
PCYO ExitPURECYCLE CORP$0-5,982,970-0.50%
SERV ExitSERVICEMASTER GLOBAL HLDGS I$0-1,072,500-0.52%
AAL ExitAMERICAN AIRLS GROUP INC$0-997,099-0.53%
DY ExitDYCOM INDS INC$0-465,000-0.55%
IVZ ExitINVESCO LTD$0-1,225,000-0.55%
HRI ExitHERC HLDGS INC$0-1,299,000-0.63%
PENN ExitPENN NATL GAMING INC$0-3,344,013-0.66%
WEX ExitWEX INC$0-435,000-0.68%
CAR ExitAVIS BUDGET GROUP$0-1,385,869-0.68%
TRUE ExitTRUECAR INC$0-5,031,568-0.69%
EXP ExitEAGLE MATERIALS INC$0-620,781-0.69%
WCG ExitWELLCARE HEALTH PLANS INC$0-473,701-0.80%
ZG ExitZILLOW GROUP INCcl a$0-1,617,910-0.80%
VLRS ExitCONTROLADORA VUELA CIA DE AVspon adr rp 10$0-3,238,670-0.81%
JBLU ExitJETBLUE AIRWAYS CORP$0-3,392,490-0.84%
RAD ExitRITE AID CORP$0-7,936,922-0.88%
WMS ExitADVANCED DRAIN SYS INC DEL$0-2,540,000-0.88%
CHGG ExitCHEGG INC$0-8,702,598-0.89%
ERI ExitELDORADO RESORTS INC$0-4,665,000-0.95%
IGT ExitINTERNATIONAL GAME TECHNOLOG$0-2,750,000-0.97%
WMB ExitWILLIAMS COS INC DEL$0-2,460,000-1.09%
ISLE ExitISLE OF CAPRI CASINOS INC$0-3,741,900-1.20%
CP ExitCANADIAN PAC RY LTD$0-621,450-1.37%
GLPI ExitGAMING & LEISURE PPTYS INC$0-3,769,478-1.82%
Z ExitZILLOW GROUP INCcl c cap stk$0-3,882,041-1.94%
OC ExitOWENS CORNING NEW$0-2,589,762-2.00%
HCA ExitHCA HOLDINGS INC$0-2,000,000-2.18%
BYD ExitBOYD GAMING CORP$0-8,009,200-2.29%
MGM ExitMGM RESORTS INTERNATIONAL$0-6,657,000-2.50%
MCK ExitMCKESSON CORP$0-1,060,000-2.55%
PCLN ExitPRICELINE GRP INC$0-138,005-2.93%
TRIP ExitTRIPADVISOR INC$0-3,237,990-2.95%
CHDN ExitCHURCHILL DOWNS INC$0-1,418,586-3.00%
LUV ExitSOUTHWEST AIRLS CO$0-5,493,200-3.08%
GRUB ExitGRUBHUB INC$0-5,455,000-3.39%
ENT ExitGLOBAL EAGLE ENTMT INC$0-28,981,072-3.48%
ALK ExitALASKA AIR GROUP INC$0-4,552,364-4.33%
CI ExitCIGNA CORPORATION$0-3,017,739-5.68%
DAL ExitDELTA AIR LINES INC DEL$0-11,465,809-6.52%
EXPE ExitEXPEDIA INC DEL$0-7,100,027-11.97%
UAL ExitUNITED CONTL HLDGS INC$0-16,294,711-12.35%
Q3 2016
 Value Shares↓ Weighting
EXPE BuyEXPEDIA INC DEL$828,715,000
+19.1%
7,100,027
+8.5%
11.97%
+3.6%
LUV BuySOUTHWEST AIRLS CO$213,631,000
+2.8%
5,493,200
+3.7%
3.08%
-10.5%
TRIP BuyTRIPADVISOR INC$204,576,000
-0.5%
3,237,990
+1.3%
2.95%
-13.4%
PCLN BuyPRICELINE GRP INC$203,073,000
+19.0%
138,005
+1.0%
2.93%
+3.6%
MCK BuyMCKESSON CORP$176,755,000
-5.3%
1,060,000
+6.0%
2.55%
-17.6%
BYD BuyBOYD GAMING CORP$158,422,000
+13.2%
8,009,200
+5.3%
2.29%
-1.5%
GLPI SellGAMING & LEISURE PPTYS INC$126,089,000
-10.0%
3,769,478
-7.2%
1.82%
-21.7%
CP SellCANADIAN PAC RY LTD$94,895,000
+16.7%
621,450
-1.6%
1.37%
+1.5%
ISLE BuyISLE OF CAPRI CASINOS INC$83,370,000
+117.6%
3,741,900
+78.9%
1.20%
+89.3%
WMB BuyWILLIAMS COS INC DEL$75,596,000
+98.6%
2,460,000
+39.8%
1.09%
+72.8%
IGT SellINTERNATIONAL GAME TECHNOLOG$67,045,000
+8.1%
2,750,000
-16.9%
0.97%
-5.9%
ERI BuyELDORADO RESORTS INC$65,590,000
+21.5%
4,665,000
+31.3%
0.95%
+5.7%
CHGG BuyCHEGG INC$61,701,000
+41.8%
8,702,598
+0.0%
0.89%
+23.4%
RAD BuyRITE AID CORP$61,035,000
+11.1%
7,936,922
+8.2%
0.88%
-3.4%
JBLU BuyJETBLUE AIRWAYS CORP$58,487,000
+1077.3%
3,392,490
+1030.8%
0.84%
+930.5%
WCG SellWELLCARE HEALTH PLANS INC$55,466,000
-46.9%
473,701
-51.4%
0.80%
-53.8%
EXP BuyEAGLE MATERIALS INC$47,986,000
+1.8%
620,781
+1.6%
0.69%
-11.4%
WEX BuyWEX INC$47,019,000
+26.3%
435,000
+3.6%
0.68%
+9.9%
PENN SellPENN NATL GAMING INC$45,378,000
-13.8%
3,344,013
-11.3%
0.66%
-25.0%
HRI NewHERC HLDGS INC$43,776,0001,299,0000.63%
IVZ BuyINVESCO LTD$38,306,000
+63.0%
1,225,000
+33.2%
0.55%
+41.8%
DY NewDYCOM INDS INC$38,028,000465,0000.55%
SGMS SellSCIENTIFIC GAMES CORPcl a$34,085,000
-7.3%
3,024,413
-24.4%
0.49%
-19.3%
DVA SellDAVITA INC$33,035,000
-26.9%
500,000
-14.4%
0.48%
-36.4%
WYNN BuyWYNN RESORTS LTD$30,752,000
+11.0%
315,668
+3.3%
0.44%
-3.5%
WLL NewWHITING PETE CORP NEW$28,842,0003,300,0000.42%
DKS BuyDICKS SPORTING GOODS INC$19,852,000
+120.3%
350,000
+75.0%
0.29%
+91.3%
TUESQ BuyTUESDAY MORNING CORP$13,682,000
+6.2%
2,288,000
+24.7%
0.20%
-7.5%
SF BuySTIFEL FINL CORP$13,458,000
+31.7%
350,000
+7.7%
0.19%
+14.1%
OLLI BuyOLLIES BARGAIN OUTLT HLDGS I$13,192,000
+16.9%
503,313
+11.0%
0.19%
+2.1%
RRR NewRED ROCK RESORTS INCcl a$12,621,000535,0000.18%
PRSC BuyPROVIDENCE SVC CORP$12,161,000
+80.6%
250,066
+66.6%
0.18%
+57.1%
W NewWAYFAIR INCcl a$11,811,000300,0000.17%
SEMG NewSEMGROUP CORPcl a$11,580,000327,5000.17%
ITG SellINVESTMENT TECHNOLOGY GRP NE$11,141,000
-15.1%
650,000
-17.2%
0.16%
-26.1%
PFSI BuyPENNYMAC FINL SVCS INCcl a$7,751,000
+44.3%
455,700
+6.0%
0.11%
+25.8%
CSX BuyCSX CORP$7,625,000
+94.9%
250,000
+66.7%
0.11%
+69.2%
H NewHYATT HOTELS CORPput$4,922,000100,0000.07%
UNP SellUNION PAC CORP$4,877,000
-44.1%
50,000
-50.0%
0.07%
-51.7%
PIR NewPIER 1 IMPORTS INC$4,240,0001,000,0000.06%
ETFC NewE TRADE FINANCIAL CORP$3,058,000105,0000.04%
NewSTONE ENERGY CORPnote 1.750% 3/0$2,435,0004,509,0000.04%
RMGN SellRMG NETWORKS HLDG CORP$1,916,000
-23.7%
2,177,434
-15.8%
0.03%
-33.3%
SPWH SellSPORTSMANS WHSE HLDGS INC$1,698,000
-10.3%
161,419
-31.3%
0.02%
-19.4%
DOV NewDOVER CORP$1,660,000671,9310.02%
CSBR SellCHAMPIONS ONCOLOGY INC$646,000
-62.3%
384,282
-51.8%
0.01%
-67.9%
GOOGL NewALPHABET INCcap stk cl a$583,0007500.01%
FMD ExitFIRST MARBLEHEAD CORP$0-60,000-0.01%
MLCO ExitMELCO CROWN ENTMT LTDadr$0-100,000-0.02%
DVD ExitDOVER MOTORSPORTS INC$0-671,931-0.02%
LL ExitLUMBER LIQUIDATORS HLDGS INC$0-225,000-0.06%
GWR ExitGENESEE & WYO INCcl a$0-81,382-0.08%
PRTY ExitPARTY CITY HOLDCO INC$0-370,273-0.08%
HTZ ExitHERTZ GLOBAL HOLDINGS INC$0-2,000,000-0.37%
Q2 2016
 Value Shares↓ Weighting
EXPE NewEXPEDIA INC DEL$695,917,0006,546,72711.55%
UAL NewUNITED CONTL HLDGS INC$668,735,00016,294,71111.10%
DAL NewDELTA AIR LINES INC DEL$417,699,00011,465,8096.93%
CI NewCIGNA CORPORATION$386,240,0003,017,7396.41%
ALK NewALASKA AIR GROUP INC$265,357,0004,552,3644.40%
LUV NewSOUTHWEST AIRLS CO$207,715,0005,297,5003.45%
TRIP NewTRIPADVISOR INC$205,631,0003,197,9903.41%
ENT NewGLOBAL EAGLE ENTMT INC$192,434,00028,981,0723.19%
MCK NewMCKESSON CORP$186,650,0001,000,0003.10%
CHDN NewCHURCHILL DOWNS INC$179,253,0001,418,5862.98%
PCLN NewPRICELINE GRP INC$170,601,000136,6552.83%
GRUB NewGRUBHUB INC$169,487,0005,455,0002.81%
HCA NewHCA HOLDINGS INC$154,020,0002,000,0002.56%
MGM NewMGM RESORTS INTERNATIONAL$150,648,0006,657,0002.50%
Z NewZILLOW GROUP INCcl c cap stk$140,840,0003,882,0412.34%
GLPI NewGAMING & LEISURE PPTYS INC$140,115,0004,063,6612.32%
BYD NewBOYD GAMING CORP$139,945,0007,605,6852.32%
OC NewOWENS CORNING NEW$133,425,0002,589,7622.21%
WCG NewWELLCARE HEALTH PLANS INC$104,459,000973,7011.73%
CP NewCANADIAN PAC RY LTD$81,324,000631,4501.35%
WMS NewADVANCED DRAIN SYS INC DEL$69,520,0002,540,0001.15%
IGT NewINTERNATIONAL GAME TECHNOLOG$62,036,0003,310,3281.03%
VLRS NewCONTROLADORA VUELA CIA DE AVspon adr rp 10$60,531,0003,238,6701.00%
ZG NewZILLOW GROUP INCcl a$59,296,0001,617,9100.98%
RAD NewRITE AID CORP$54,954,0007,336,9220.91%
ERI NewELDORADO RESORTS INC$53,970,0003,551,8390.90%
PENN NewPENN NATL GAMING INC$52,620,0003,772,0130.87%
EXP NewEAGLE MATERIALS INC$47,122,000610,7810.78%
DVA NewDAVITA HEALTHCARE PARTNERS I$45,181,000584,3350.75%
CAR NewAVIS BUDGET GROUP$44,667,0001,385,8690.74%
CHGG NewCHEGG INC$43,508,0008,701,6130.72%
SERV NewSERVICEMASTER GLOBAL HLDGS I$42,686,0001,072,5000.71%
TRUE NewTRUECAR INC$39,498,0005,031,5680.66%
ISLE NewISLE OF CAPRI CASINOS INC$38,316,0002,091,5000.64%
WMB NewWILLIAMS COS INC DEL$38,069,0001,760,0000.63%
WEX NewWEX INC$37,241,000420,0000.62%
SGMS NewSCIENTIFIC GAMES CORPcl a$36,760,0004,000,0000.61%
PCYO NewPURECYCLE CORP$28,180,0005,982,9700.47%
AAL NewAMERICAN AIRLS GROUP INC$28,228,000997,0990.47%
WYNN NewWYNN RESORTS LTD$27,706,000305,6680.46%
IVZ NewINVESCO LTD$23,497,000920,0000.39%
HTZ NewHERTZ GLOBAL HOLDINGS INC$22,140,0002,000,0000.37%
V NewVISA INC$21,138,000285,0000.35%
ARLZ NewARALEZ PHARMACEUTICALS INC$21,120,0006,400,0000.35%
CSGP NewCOSTAR GROUP INC$18,586,00085,0000.31%
DOOR NewMASONITE INTL CORP NEW$16,337,000247,0000.27%
BMCH NewBMC STK HLDGS INC$13,543,000760,0000.22%
ITG NewINVESTMENT TECHNOLOGY GRP NE$13,125,000785,0000.22%
TUESQ NewTUESDAY MORNING CORP$12,885,0001,835,5170.21%
PGTI NewPGT INC$11,806,0001,146,1720.20%
OLLI NewOLLIES BARGAIN OUTLT HLDGS I$11,283,000453,3130.19%
SF NewSTIFEL FINL CORP$10,221,000325,0000.17%
APC NewANADARKO PETE CORP$9,981,000187,4440.17%
DKS NewDICKS SPORTING GOODS INC$9,012,000200,0000.15%
NFX NewNEWFIELD EXPL CO$8,946,000202,5000.15%
UNP NewUNION PAC CORP$8,725,000100,0000.14%
XHR NewXENIA HOTELS & RESORTS INC$7,957,000474,2110.13%
ICE NewINTERCONTINENTAL EXCHANGE IN$7,679,00030,0000.13%
CMA NewCOMERICA INC$7,214,000175,4000.12%
PRSC NewPROVIDENCE SVC CORP$6,735,000150,0660.11%
FRC NewFIRST REP BK SAN FRANCISCO C$5,599,00080,0000.09%
WBS NewWEBSTER FINL CORP CONN$5,432,000160,0000.09%
PFSI NewPENNYMAC FINL SVCS INCcl a$5,371,000430,0000.09%
PRTY NewPARTY CITY HOLDCO INC$5,150,000370,2730.08%
JBLU NewJETBLUE AIRWAYS CORP$4,968,000300,0000.08%
GWR NewGENESEE & WYO INCcl a$4,797,00081,3820.08%
QTWO NewQ2 HLDGS INC$4,623,000165,0000.08%
CSX NewCSX CORP$3,912,000150,0000.06%
LL NewLUMBER LIQUIDATORS HLDGS INC$3,470,000225,0000.06%
PNK NewPINNACLE ENTMT INC NEW$3,473,000313,4280.06%
ABC NewAMERISOURCEBERGEN CORP$2,633,00033,1980.04%
RMGN NewRMG NETWORKS HLDG CORP$2,510,0002,587,2930.04%
RRTS NewROADRUNNER TRNSN SVCS HLDG I$2,462,000330,0000.04%
SPWH NewSPORTSMANS WHSE HLDGS INC$1,894,000235,0000.03%
CSBR NewCHAMPIONS ONCOLOGY INC$1,713,000796,9000.03%
CTRP NewCTRIP COM INTL LTD$1,648,00040,0000.03%
DVD NewDOVER MOTORSPORTS INC$1,458,000671,9310.02%
MLCO NewMELCO CROWN ENTMT LTDadr$1,258,000100,0000.02%
MMYT NewMAKEMYTRIP LIMITED MAURITIUS$817,00054,9730.01%
FMD NewFIRST MARBLEHEAD CORP$292,00060,0000.01%
Q4 2015
 Value Shares↓ Weighting
FMD ExitFIRST MARBLEHEAD CORP$0-60,000-0.00%
MMYT ExitMAKEMYTRIP LIMITED MAURITIUS$0-79,973-0.02%
DVD ExitDOVER MOTORSPORTS INC$0-671,931-0.03%
MC ExitMOELIS & COcl a$0-100,000-0.06%
CMA ExitCOMERICA INC$0-65,000-0.06%
PFSI ExitPENNYMAC FINL SVCS INCcl a$0-170,000-0.06%
ANGI ExitANGIES LIST INC$0-551,000-0.06%
RMGN ExitRMG NETWORKS HLDG CORP$0-3,412,075-0.06%
ITG ExitINVESTMENT TECHNOLOGY GRP NE$0-275,000-0.08%
QTWO ExitQ2 HLDGS INC$0-155,000-0.08%
VNTV ExitVANTIV INCcl a$0-90,000-0.08%
MLCO ExitMELCO CROWN ENTMT LTDadr$0-295,400-0.09%
FCX ExitFREEPORT-MCMORAN COPPER & GO$0-425,000-0.09%
ExitSTONE ENERGY CORPnote 1.750% 3/0$0-5,000,000-0.09%
CSBR ExitCHAMPIONS ONCOLOGY INC$0-833,333-0.09%
STT ExitSTATE STR CORP$0-71,000-0.10%
SGY ExitSTONE ENERGY CORP$0-1,000,000-0.10%
VRTS ExitVIRTUS INVT PARTNERS INC$0-53,000-0.11%
GRUB ExitGRUBHUB INC$0-220,000-0.11%
GDEN ExitGOLDEN ENTMT INC$0-658,457-0.13%
SF ExitSTIFEL FINL CORP$0-150,000-0.13%