Par Capital Management - Q2 2014 holdings

$3.62 Billion is the total value of Par Capital Management's 64 reported holdings in Q2 2014. The portfolio turnover from Q1 2014 to Q2 2014 was 21.9% .

 Value Shares↓ Weighting
ENT  GLOBAL EAGLE ACQUISITION COR$359,108,000
-21.4%
28,968,4990.0%9.91%
-28.2%
EXPE BuyEXPEDIA INC DEL$261,074,000
+35.9%
3,314,800
+25.1%
7.20%
+24.1%
PCLN BuyPRICELINE COM INC$255,036,000
+135.7%
212,000
+133.5%
7.04%
+115.1%
TRIP  TRIPADVISOR INC$226,854,000
+19.9%
2,087,7420.0%6.26%
+9.5%
ALK  ALASKA AIR GROUP INC$223,480,000
+1.9%
2,351,1820.0%6.17%
-7.0%
DAL SellDELTA AIR LINES INC DEL$207,686,000
+10.1%
5,363,800
-1.5%
5.73%
+0.5%
OWW  ORBITZ WORLDWIDE INC$146,850,000
+13.5%
16,500,0000.0%4.05%
+3.6%
LUV BuySOUTHWEST AIRLS CO$143,970,000
+26.6%
5,360,000
+11.3%
3.97%
+15.6%
MLCO BuyMELCO CROWN ENTMT LTDadr$136,649,000
+41.4%
3,826,642
+53.1%
3.77%
+29.1%
CHDN  CHURCHILL DOWNS INC$115,930,000
-1.3%
1,286,5440.0%3.20%
-9.9%
AAL  AMERICAN AIRLS GROUP INC$107,400,000
+17.4%
2,500,0000.0%2.96%
+7.1%
BYD BuyBOYD GAMING CORP$99,911,000
-5.6%
8,236,655
+2.7%
2.76%
-13.8%
URI  UNITED RENTALS INC$97,903,000
+10.3%
934,8130.0%2.70%
+0.7%
GBX  GREENBRIER COS INC$97,557,000
+26.3%
1,693,7000.0%2.69%
+15.3%
PENN  PENN NATL GAMING INC$93,482,000
-1.5%
7,700,3000.0%2.58%
-10.0%
GLPI BuyGAMING & LEISURE PPTYS INC$87,255,000
+8.1%
2,568,598
+16.0%
2.41%
-1.3%
SAVE  SPIRIT AIRLS INC$79,050,000
+6.5%
1,250,0000.0%2.18%
-2.8%
BYI  BALLY TECHNOLOGIES INC$62,548,000
-0.8%
951,7400.0%1.73%
-9.4%
CRM BuySALESFORCE COM INC$49,716,000
+56.6%
856,000
+54.0%
1.37%
+43.1%
AYI BuyACUITY BRANDS INC$49,325,000
+143.5%
356,783
+133.5%
1.36%
+122.4%
KLAC  KLA-TENCOR CORP$46,635,000
+5.1%
642,0000.0%1.29%
-4.1%
OC BuyOWENS CORNING NEW$43,119,000
-8.3%
1,114,762
+2.3%
1.19%
-16.3%
PCYO  PURECYCLE CORP$40,505,000
+11.9%
5,982,9700.0%1.12%
+2.2%
VECO  VEECO INSTRS INC DEL$36,718,000
-11.1%
985,4650.0%1.01%
-18.9%
CHGG BuyCHEGG INC$32,736,000
+367.7%
4,650,000
+365.0%
0.90%
+325.9%
SLAB BuySILICON LABORATORIES INC$32,308,000
+19.6%
656,000
+26.9%
0.89%
+9.2%
SGY SellSTONE ENERGY CORP$31,856,000
-8.1%
680,836
-17.5%
0.88%
-16.0%
GM BuyGENERAL MTRS CO$27,898,000
+71.2%
768,550
+62.3%
0.77%
+56.2%
CP NewCANADIAN PAC RY LTD$27,171,000150,000
+100.0%
0.75%
AIXNY  AIXTRON SEsponsored adr$26,150,000
-10.8%
1,798,5090.0%0.72%
-18.5%
MGLN BuyMAGELLAN HEALTH SVCS INC$24,896,000
+26.9%
400,000
+21.0%
0.69%
+15.9%
POZN SellPOZEN INC$23,855,000
-11.2%
2,863,699
-14.7%
0.66%
-19.0%
INVN  INVENSENSE INC$22,518,000
-4.1%
992,4020.0%0.62%
-12.5%
ISLE BuyISLE OF CAPRI CASINOS INC$21,939,000
+95.4%
2,563,000
+75.1%
0.60%
+78.5%
APC  ANADARKO PETE CORP$20,519,000
+29.1%
187,4440.0%0.57%
+17.9%
IVZ BuyINVESCO LTD$20,008,000
+8.2%
530,000
+6.0%
0.55%
-1.3%
FCX BuyFREEPORT-MCMORAN COPPER & GO$19,710,000
+58.9%
540,000
+44.0%
0.54%
+45.1%
GWR  GENESEE & WYO INCcl a$19,045,000
+7.9%
181,3820.0%0.52%
-1.7%
VVTV  VALUEVISION MEDIA INCcl a$17,776,000
+2.7%
3,562,3000.0%0.49%
-6.3%
ICE BuyINTERCONTINENTALEXCHANGE GRO$15,112,000
+60.8%
80,000
+68.4%
0.42%
+46.8%
MNTG BuyMTR GAMING GROUP INC$15,047,000
+5.1%
2,812,564
+0.7%
0.42%
-4.2%
MOH  MOLINA HEALTHCARE INC$13,389,000
+18.8%
300,0000.0%0.37%
+8.2%
APAM BuyARTISAN PARTNERS ASSET MGMTcl a$13,036,000
+56.1%
230,000
+76.9%
0.36%
+42.9%
CREE SellCREE INC$12,702,000
-62.3%
254,300
-57.3%
0.35%
-65.6%
MLI  MUELLER INDS INC$12,146,000
-1.9%
413,0000.0%0.34%
-10.4%
SSYS BuySTRATASYS LTD$12,152,000
+48.9%
106,940
+39.0%
0.34%
+35.6%
PNK  PINNACLE ENTMT INC$10,072,000
+6.2%
400,0000.0%0.28%
-3.1%
FB  FACEBOOK INCcl a$9,421,000
+11.7%
140,0000.0%0.26%
+2.0%
JPM SellJPMORGAN CHASE & CO$8,067,000
-17.0%
140,000
-12.5%
0.22%
-24.1%
PGTI BuyPGT INC$7,972,000
+17.2%
941,172
+59.2%
0.22%
+6.8%
EXP  EAGLE MATERIALS INC$7,410,000
+6.3%
78,6000.0%0.20%
-3.3%
VRTS NewVIRTUS INVT PARTNERS INC$6,882,00032,500
+100.0%
0.19%
LACO  LAKES ENTMNT INC$6,203,000
-5.8%
1,316,9140.0%0.17%
-14.1%
VGGL NewVIGGLE INC$5,954,0001,375,000
+100.0%
0.16%
MAS SellMASCO CORP$5,836,000
-7.8%
262,900
-7.8%
0.16%
-15.7%
EXXIQ  ENERGY XXI (BERMUDA) LTD$5,194,000
+0.3%
219,8000.0%0.14%
-8.9%
VLRS BuyCONTROLADORA VUELA CIA DE AVspon adr rp 10$4,905,000
+322.1%
545,000
+289.3%
0.14%
+285.7%
IGT NewINTERNATIONAL GAME TECHNOLOG$4,186,000263,100
+100.0%
0.12%
SGMS NewSCIENTIFIC GAMES CORPcl a$3,979,000357,832
+100.0%
0.11%
ARMH NewARM HLDGS PLCsponsored adr$2,513,00055,558
+100.0%
0.07%
RMGN BuyRMG NETWORKS HLDG CORP$2,492,000
-55.9%
1,112,293
+11.2%
0.07%
-59.6%
DVD  DOVER MOTORSPORTS INC$1,942,000
+15.6%
671,9310.0%0.05%
+5.9%
AHP NewASHFORD HOSPITALITY PRIME IN$1,165,00067,900
+100.0%
0.03%
FMD  FIRST MARBLEHEAD CORP$315,000
-13.0%
60,0000.0%0.01%
-18.2%
NFX ExitNEWFIELD EXPL CO$0-55,000
-100.0%
-0.05%
SHW ExitSHERWIN WILLIAMS CO$0-9,000
-100.0%
-0.05%
REXX ExitREX ENERGY CORPORATION$0-170,000
-100.0%
-0.10%
GRPN ExitGROUPON INC$0-950,000
-100.0%
-0.22%
V107SC ExitWELLPOINT INC$0-100,000
-100.0%
-0.30%
ATML ExitATMEL CORP$0-1,325,000
-100.0%
-0.34%
CAR ExitAVIS BUDGET GROUP$0-2,502,660
-100.0%
-3.68%
Original filings

The following EDGAR filing(s) were analyzed to create this report:

  • View 13F-HR filed 2014-08-14
Signatures

The EDGAR filing(s) were signed by:

About Par Capital Management

Par Capital Management is a Boston-based investment firm that specializes in the airline industry. The company was founded in 1990 by Paul Reeder and Edward Shapiro, both of whom had previously worked at Harvard Management Company. Since its inception, Par Capital has grown to become one of the most successful hedge funds in the world, with over $10 billion in assets under management.

The firm's investment strategy is focused on identifying undervalued companies in the airline industry and investing in them for the long term. Par Capital's portfolio includes a number of major airlines, including Delta Air Lines, United Airlines, and American Airlines. The company is known for its deep understanding of the airline industry and its ability to identify opportunities that other investors may overlook.

Par Capital is led by CEO Paul Reeder and COO Edward Shapiro, both of whom have extensive experience in the finance industry. The firm's Chief Investment Officer is William H. Spiegel, who has been with the company since 1999. Under their leadership, Par Capital has consistently delivered strong returns for its investors, with an average annual return of over 20% since its inception.

Overall, Par Capital Management is a highly respected investment firm with a proven track record of success in the airline industry. While past performance is not a guarantee of future results, the company's deep industry knowledge and experienced leadership team make it a compelling option for investors looking to gain exposure to the airline sector.

It's important to note that this information is for educational purposes only and has not been fact-checked. As with any investment, it's important to do your own research and consult with a financial advisor before making any investment decisions.

Top long-term holdings
NameQuarters ownedLatest quarter ownedMax weighting
EXPEDIA INC DEL42Q3 202322.2%
DELTA AIR LINES INC DEL42Q3 202314.3%
TRIPADVISOR INC42Q3 202314.4%
ALASKA AIR GROUP INC42Q3 20238.2%
CONTROLADORA VUELA COMP DE A38Q3 20231.1%
UNITED CONTL HLDGS INC37Q3 202324.2%
WEX INC36Q3 202313.0%
SOUTHWEST AIRLS CO36Q3 20235.2%
AMERICAN AIRLS GROUP INC35Q3 20235.1%
PURECYCLE CORP33Q2 20211.3%

View Par Capital Management's complete holdings history.

Latest significant ownerships (13-D/G)
Par Capital Management Q2 2014 significant holdings filed using form 13D/G when ownership exceeds 5% of a company's total stock issue.
FiledShares Percentage
Global Eagle Entertainment Inc.May 22, 201429,478,01141.0%
Orbitz Worldwide, Inc.November 16, 200924,624,12524.4%
US AIRWAYS GROUP INCMarch 17, 200611,768,48514.3%
DECKERS OUTDOOR CORPFebruary 14, 20061,147,5679.3%
D&K HEALTHCARE RESOURCES INCSold outFebruary 14, 200600.0%
FLYI INCSold outFebruary 14, 200600.0%
LODGENET ENTERTAINMENT CORPFebruary 14, 2006750,0004.1%
PURE CYCLE CORPFebruary 14, 20061,996,73913.7%
ULTIMATE ELECTRONICS INCSold outFebruary 14, 200600.0%
AMERICA WEST HOLDINGS CORPFebruary 14, 2005603,0001.7%

View Par Capital Management's complete significant-ownership history.

Latest filings
TypeFiled
13F-HR2024-02-14
13F-HR2023-11-14
13F-HR2023-08-14
13F-HR2023-05-15
13F-HR2023-02-14
13F-HR2022-11-14
13F-HR2022-08-15
13F-HR2022-05-16
13F-HR2022-02-14
13F-HR/A2021-11-15

View Par Capital Management's complete filings history.

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