Par Capital Management - Q4 2014 holdings

$4.33 Billion is the total value of Par Capital Management's 70 reported holdings in Q4 2014. The portfolio turnover from Q3 2014 to Q4 2014 was 39.1% .

 Value Shares↓ Weighting
DAL BuyDELTA AIR LINES INC DEL$562,045,000
+103.5%
11,426,009
+49.6%
12.98%
+76.2%
ENT  GLOBAL EAGLE ACQUISITION COR$394,432,000
+21.3%
28,981,0720.0%9.11%
+5.0%
EXPE BuyEXPEDIA INC DEL$294,902,000
-1.7%
3,454,800
+0.9%
6.81%
-14.9%
ALK  ALASKA AIR GROUP INC$281,013,000
+37.3%
4,702,3640.0%6.49%
+18.8%
LUV SellSOUTHWEST AIRLS CO$227,153,000
+21.5%
5,367,500
-3.0%
5.25%
+5.2%
AAL BuyAMERICAN AIRLS GROUP INC$221,224,000
+111.4%
4,125,000
+39.8%
5.11%
+83.0%
TRIP BuyTRIPADVISOR INC$156,341,000
-18.1%
2,094,042
+0.3%
3.61%
-29.1%
OWW  ORBITZ WORLDWIDE INC$135,795,000
+4.6%
16,500,0000.0%3.14%
-9.5%
CHDN  CHURCHILL DOWNS INC$122,608,000
-2.3%
1,286,5440.0%2.83%
-15.4%
UAL BuyUNITED CONTL HLDGS INC$120,736,000
+222.5%
1,805,000
+125.6%
2.79%
+179.1%
MLCO BuyMELCO CROWN ENTMT LTDadr$113,119,000
+3.2%
4,453,519
+6.8%
2.61%
-10.6%
GLPI BuyGAMING & LEISURE PPTYS INC$110,255,000
+11.4%
3,757,826
+17.3%
2.55%
-3.6%
PENN  PENN NATL GAMING INC$107,908,000
+22.5%
7,859,3000.0%2.49%
+6.0%
BYD SellBOYD GAMING CORP$106,880,000
+25.0%
8,363,055
-0.6%
2.47%
+8.2%
PCLN SellPRICELINE COM INC$106,040,000
-56.8%
93,000
-56.1%
2.45%
-62.6%
URI BuyUNITED RENTALS INC$96,380,000
-7.2%
944,813
+1.1%
2.23%
-19.6%
VA NewVIRGIN AMER INC$93,042,0002,264,492
+100.0%
2.15%
GBX  GREENBRIER COS INC$91,003,000
-26.8%
1,693,7000.0%2.10%
-36.6%
SAVE SellSPIRIT AIRLS INC$83,138,000
-3.8%
1,100,000
-12.0%
1.92%
-16.7%
QUNR BuyQUNAR CAYMAN IS LTDspns adr cl b$72,821,000
+2319.3%
2,561,416
+2253.3%
1.68%
+2002.5%
CHGG BuyCHEGG INC$51,825,000
+27.5%
7,500,000
+15.2%
1.20%
+10.4%
RAD BuyRITE AID CORP$51,481,000
+112.7%
6,845,922
+36.9%
1.19%
+84.1%
GM  GENERAL MTRS CO$49,522,000
+9.3%
1,418,5500.0%1.14%
-5.4%
CP BuyCANADIAN PAC RY LTD$44,319,000
+29.5%
230,000
+39.4%
1.02%
+12.0%
WCG  WELLCARE HEALTH PLANS INC$41,030,000
+36.0%
500,0000.0%0.95%
+17.8%
OC  OWENS CORNING NEW$40,636,000
+12.8%
1,134,7620.0%0.94%
-2.4%
SGMS BuySCIENTIFIC GAMES CORPcl a$39,054,000
+20.9%
3,067,900
+2.3%
0.90%
+4.6%
SGY BuySTONE ENERGY CORP$37,146,000
-6.5%
2,200,600
+73.6%
0.86%
-19.1%
ALGT SellALLEGIANT TRAVEL CO$34,922,000
-26.6%
232,299
-39.7%
0.81%
-36.5%
POZN BuyPOZEN INC$30,910,000
+25.2%
3,863,699
+14.9%
0.71%
+8.3%
WMS NewADVANCED DRAIN SYS INC DEL$28,840,0001,255,000
+100.0%
0.67%
PNK BuyPINNACLE ENTMT INC$24,241,000
+141.5%
1,089,466
+172.4%
0.56%
+109.0%
MGLN BuyMAGELLAN HEALTH SVCS INC$24,186,000
+10.5%
402,900
+0.7%
0.56%
-4.3%
PCYO  PURECYCLE CORP$23,932,000
-38.2%
5,982,9700.0%0.55%
-46.5%
EVLV NewEVINE LIVE INCcl a$23,476,0003,562,300
+100.0%
0.54%
APAM BuyARTISAN PARTNERS ASSET MGMTcl a$22,233,000
+52.6%
440,000
+57.1%
0.51%
+31.9%
IVZ  INVESCO LTD$19,760,000
+0.1%
500,0000.0%0.46%
-13.5%
GWR  GENESEE & WYO INCcl a$16,310,000
-5.7%
181,3820.0%0.38%
-18.2%
V BuyVISA INC$15,732,000
+71.5%
60,000
+39.5%
0.36%
+48.2%
LONG NewELONG INCsponsored adr$15,508,000864,214
+100.0%
0.36%
ERI BuyELDORADO RESORTS INC$15,177,000
+50.2%
3,747,305
+56.1%
0.35%
+29.6%
MLI  MUELLER INDS INC$14,100,000
+19.6%
413,0000.0%0.33%
+3.8%
DOOR BuyMASONITE INTL CORP NEW$13,951,000
+93.8%
227,000
+74.6%
0.32%
+67.7%
CPA  COPA HOLDINGS SAcl a$12,955,000
-3.4%
125,0000.0%0.30%
-16.5%
FCX  FREEPORT-MCMORAN COPPER & GO$12,614,000
-28.5%
540,0000.0%0.29%
-38.1%
ICE BuyINTERCONTINENTALEXCHANGE GRO$12,609,000
+29.3%
57,500
+15.0%
0.29%
+11.9%
EXP BuyEAGLE MATERIALS INC$10,614,000
+10.2%
139,600
+47.6%
0.24%
-4.7%
PGTI BuyPGT INC$9,641,000
+8.8%
1,001,172
+5.3%
0.22%
-5.5%
APC SellANADARKO PETE CORP$9,277,000
-51.2%
112,444
-40.0%
0.21%
-57.8%
CSGP BuyCOSTAR GROUP INC$9,218,000
+74.3%
50,200
+47.6%
0.21%
+51.1%
LVS SellLAS VEGAS SANDS CORP$8,724,000
-48.1%
150,000
-44.4%
0.20%
-55.1%
VLRS BuyCONTROLADORA VUELA CIA DE AVspon adr rp 10$7,837,000
+49.6%
868,808
+44.0%
0.18%
+29.3%
ISLE  ISLE OF CAPRI CASINOS INC$7,825,000
+11.6%
934,8390.0%0.18%
-3.2%
SF NewSTIFEL FINL CORP$5,102,000100,000
+100.0%
0.12%
WEX NewWEX INC$4,748,00048,000
+100.0%
0.11%
LACO NewLAKES ENTMNT INC$4,426,000658,457
+100.0%
0.10%
STT NewSTATE STR CORP$3,925,00050,000
+100.0%
0.09%
FRC BuyFIRST REP BK SAN FRANCISCO C$3,961,000
+14.6%
76,000
+8.6%
0.09%
-1.1%
TRUE NewTRUECAR INC$3,915,000170,951
+100.0%
0.09%
AHP  ASHFORD HOSPITALITY PRIME IN$3,883,000
+12.7%
226,2580.0%0.09%
-2.2%
CIVI NewCIVITAS SOLUTIONS INC$3,840,000225,500
+100.0%
0.09%
VGGL  VIGGLE INC$3,630,000
-25.4%
1,375,0000.0%0.08%
-35.4%
VRTS SellVIRTUS INVT PARTNERS INC$3,410,000
-72.0%
20,000
-71.4%
0.08%
-75.6%
NFX NewNEWFIELD EXPL CO$2,712,000100,000
+100.0%
0.06%
PRSC NewPROVIDENCE SVC CORP$2,529,00069,400
+100.0%
0.06%
BCEI NewBONANZA CREEK ENERGY INC$2,229,00092,892
+100.0%
0.05%
DVD  DOVER MOTORSPORTS INC$1,754,000
+13.0%
671,9310.0%0.04%0.0%
RMGN  RMG NETWORKS HLDG CORP$1,390,000
-24.3%
1,112,2930.0%0.03%
-34.7%
JPM SellJPMORGAN CHASE & CO$1,252,000
-74.0%
20,000
-75.0%
0.03%
-77.5%
VNTV NewVANTIV INCcl a$1,187,00035,000
+100.0%
0.03%
FMD ExitFIRST MARBLEHEAD CORP$0-60,000
-100.0%
-0.01%
HTZ ExitHERTZ GLOBAL HOLDINGS INC$0-100,000
-100.0%
-0.07%
KLAC ExitKLA-TENCOR CORP$0-81,000
-100.0%
-0.17%
SLAB ExitSILICON LABORATORIES INC$0-224,000
-100.0%
-0.24%
LVS ExitLAS VEGAS SANDS CORPcall$0-150,000
-100.0%
-0.25%
FB ExitFACEBOOK INCcl a$0-137,500
-100.0%
-0.29%
MOH ExitMOLINA HEALTHCARE INC$0-300,000
-100.0%
-0.34%
VVTV ExitVALUEVISION MEDIA INCcl a$0-3,562,300
-100.0%
-0.49%
AIXNY ExitAIXTRON SEsponsored adr$0-1,446,377
-100.0%
-0.58%
CRM ExitSALESFORCE COM INC$0-446,000
-100.0%
-0.68%
VECO ExitVEECO INSTRS INC DEL$0-935,465
-100.0%
-0.87%
AYI ExitACUITY BRANDS INC$0-301,783
-100.0%
-0.95%
BYI ExitBALLY TECHNOLOGIES INC$0-951,740
-100.0%
-2.05%
Original filings

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

  • View 13F-HR filed 2015-02-17
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 DEL45Q2 202422.2%
DELTA AIR LINES INC DEL45Q2 202414.3%
TRIPADVISOR INC45Q2 202414.4%
ALASKA AIR GROUP INC45Q2 20248.2%
CONTROLADORA VUELA COMP DE A41Q2 20241.1%
UNITED CONTL HLDGS INC40Q2 202424.2%
WEX INC39Q2 202413.7%
SOUTHWEST AIRLS CO39Q2 20245.2%
AMERICAN AIRLS GROUP INC38Q2 20245.1%
AVIS BUDGET GROUP INC33Q2 20247.2%

View Par Capital Management's complete holdings history.

Latest significant ownerships (13-D/G)
Par Capital Management Q4 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-HR2024-08-14
N-PX2024-08-07
13F-HR2024-05-15
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

View Par Capital Management's complete filings history.

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