Par Capital Management - Q2 2016 holdings

$6.03 Billion is the total value of Par Capital Management's 80 reported holdings in Q2 2016. The portfolio turnover from Q1 2016 to Q2 2016 was 29.1% .

 Value Shares↓ Weighting
EXPE BuyEXPEDIA INC DEL$695,917,000
+49.4%
6,546,727
+51.6%
11.55%
+54.7%
UAL BuyUNITED CONTL HLDGS INC$668,735,000
-22.4%
16,294,711
+13.2%
11.10%
-19.6%
DAL  DELTA AIR LINES INC DEL$417,699,000
-25.2%
11,465,8090.0%6.93%
-22.5%
CI BuyCIGNA CORPORATION$386,240,000
+34.0%
3,017,739
+43.7%
6.41%
+38.8%
ALK  ALASKA AIR GROUP INC$265,357,000
-28.9%
4,552,3640.0%4.40%
-26.4%
LUV BuySOUTHWEST AIRLS CO$207,715,000
+25.0%
5,297,500
+42.8%
3.45%
+29.4%
TRIP  TRIPADVISOR INC$205,631,000
-3.3%
3,197,9900.0%3.41%
+0.1%
ENT  GLOBAL EAGLE ENTMT INC$192,434,000
-22.1%
28,981,0720.0%3.19%
-19.3%
MCK  MCKESSON CORP$186,650,000
+18.7%
1,000,0000.0%3.10%
+22.9%
CHDN BuyCHURCHILL DOWNS INC$179,253,000
-5.8%
1,418,586
+10.2%
2.98%
-2.5%
PCLN  PRICELINE GRP INC$170,601,000
-3.1%
136,6550.0%2.83%
+0.3%
GRUB  GRUBHUB INC$169,487,000
+23.6%
5,455,0000.0%2.81%
+28.0%
HCA  HCA HOLDINGS INC$154,020,000
-1.3%
2,000,0000.0%2.56%
+2.2%
MGM BuyMGM RESORTS INTERNATIONAL$150,648,000
+20.0%
6,657,000
+13.7%
2.50%
+24.3%
Z  ZILLOW GROUP INCcl c cap stk$140,840,000
+52.9%
3,882,0410.0%2.34%
+58.3%
GLPI SellGAMING & LEISURE PPTYS INC$140,115,000
-4.2%
4,063,661
-14.0%
2.32%
-0.7%
BYD BuyBOYD GAMING CORP$139,945,000
-9.0%
7,605,685
+2.2%
2.32%
-5.8%
OC BuyOWENS CORNING NEW$133,425,000
+20.4%
2,589,762
+10.4%
2.21%
+24.7%
WCG  WELLCARE HEALTH PLANS INC$104,459,000
+15.7%
973,7010.0%1.73%
+19.8%
CP SellCANADIAN PAC RY LTD$81,324,000
-12.6%
631,450
-10.0%
1.35%
-9.5%
WMS BuyADVANCED DRAIN SYS INC DEL$69,520,000
+63.2%
2,540,000
+27.0%
1.15%
+69.0%
IGT  INTERNATIONAL GAME TECHNOLOG$62,036,000
+2.7%
3,310,3280.0%1.03%
+6.3%
VLRS BuyCONTROLADORA VUELA CIA DE AVspon adr rp 10$60,531,000
-9.4%
3,238,670
+2.1%
1.00%
-6.3%
ZG  ZILLOW GROUP INCcl a$59,296,000
+43.4%
1,617,9100.0%0.98%
+48.6%
RAD  RITE AID CORP$54,954,000
-8.1%
7,336,9220.0%0.91%
-4.8%
ERI  ELDORADO RESORTS INC$53,970,000
+32.8%
3,551,8390.0%0.90%
+37.6%
PENN SellPENN NATL GAMING INC$52,620,000
-33.9%
3,772,013
-21.0%
0.87%
-31.6%
EXP BuyEAGLE MATERIALS INC$47,122,000
+24.3%
610,781
+12.9%
0.78%
+28.6%
DVA  DAVITA HEALTHCARE PARTNERS I$45,181,000
+5.4%
584,3350.0%0.75%
+9.2%
CAR  AVIS BUDGET GROUP$44,667,000
+17.8%
1,385,8690.0%0.74%
+21.9%
CHGG SellCHEGG INC$43,508,000
+10.8%
8,701,613
-1.1%
0.72%
+14.8%
SERV SellSERVICEMASTER GLOBAL HLDGS I$42,686,000
+0.9%
1,072,500
-4.5%
0.71%
+4.4%
TRUE  TRUECAR INC$39,498,000
+40.4%
5,031,5680.0%0.66%
+45.2%
ISLE  ISLE OF CAPRI CASINOS INC$38,316,000
+30.9%
2,091,5000.0%0.64%
+35.6%
WMB NewWILLIAMS COS INC DEL$38,069,0001,760,000
+100.0%
0.63%
WEX BuyWEX INC$37,241,000
+11.7%
420,000
+5.0%
0.62%
+15.7%
SGMS  SCIENTIFIC GAMES CORPcl a$36,760,000
-2.5%
4,000,0000.0%0.61%
+1.0%
AAL SellAMERICAN AIRLS GROUP INC$28,228,000
-31.2%
997,099
-0.3%
0.47%
-28.8%
PCYO  PURECYCLE CORP$28,180,000
+4.4%
5,982,9700.0%0.47%
+8.3%
WYNN  WYNN RESORTS LTD$27,706,000
-3.0%
305,6680.0%0.46%
+0.4%
IVZ BuyINVESCO LTD$23,497,000
-0.8%
920,000
+19.5%
0.39%
+2.6%
HTZ  HERTZ GLOBAL HOLDINGS INC$22,140,000
+5.1%
2,000,0000.0%0.37%
+8.9%
V BuyVISA INC$21,138,000
-1.3%
285,000
+1.8%
0.35%
+2.3%
ARLZ BuyARALEZ PHARMACEUTICALS INC$21,120,000
+10.9%
6,400,000
+19.3%
0.35%
+14.8%
CSGP BuyCOSTAR GROUP INC$18,586,000
+21.9%
85,000
+4.9%
0.31%
+26.2%
DOOR SellMASONITE INTL CORP NEW$16,337,000
-8.3%
247,000
-9.2%
0.27%
-4.9%
BMCH NewBMC STK HLDGS INC$13,543,000760,000
+100.0%
0.22%
ITG BuyINVESTMENT TECHNOLOGY GRP NE$13,125,000
-7.6%
785,000
+22.1%
0.22%
-4.4%
TUESQ BuyTUESDAY MORNING CORP$12,885,000
+86.0%
1,835,517
+116.7%
0.21%
+92.8%
PGTI  PGT INC$11,806,000
+4.7%
1,146,1720.0%0.20%
+8.3%
OLLI BuyOLLIES BARGAIN OUTLT HLDGS I$11,283,000
+230.6%
453,313
+211.2%
0.19%
+240.0%
SF BuySTIFEL FINL CORP$10,221,000
+15.1%
325,000
+8.3%
0.17%
+19.7%
APC  ANADARKO PETE CORP$9,981,000
+14.3%
187,4440.0%0.17%
+18.6%
DKS NewDICKS SPORTING GOODS INC$9,012,000200,000
+100.0%
0.15%
NFX  NEWFIELD EXPL CO$8,946,000
+32.9%
202,5000.0%0.15%
+37.0%
UNP NewUNION PAC CORP$8,725,000100,000
+100.0%
0.14%
XHR NewXENIA HOTELS & RESORTS INC$7,957,000474,211
+100.0%
0.13%
ICE  INTERCONTINENTAL EXCHANGE IN$7,679,000
+8.9%
30,0000.0%0.13%
+12.4%
CMA BuyCOMERICA INC$7,214,000
+8.9%
175,400
+0.2%
0.12%
+13.2%
PRSC  PROVIDENCE SVC CORP$6,735,000
-12.1%
150,0660.0%0.11%
-8.9%
FRC  FIRST REP BK SAN FRANCISCO C$5,599,000
+5.0%
80,0000.0%0.09%
+9.4%
WBS BuyWEBSTER FINL CORP CONN$5,432,000
+28.6%
160,000
+36.0%
0.09%
+32.4%
PFSI BuyPENNYMAC FINL SVCS INCcl a$5,371,000
+36.3%
430,000
+28.4%
0.09%
+41.3%
PRTY BuyPARTY CITY HOLDCO INC$5,150,000
+126.3%
370,273
+144.7%
0.08%
+136.1%
JBLU NewJETBLUE AIRWAYS CORP$4,968,000300,000
+100.0%
0.08%
GWR SellGENESEE & WYO INCcl a$4,797,000
-83.8%
81,382
-82.7%
0.08%
-83.1%
QTWO  Q2 HLDGS INC$4,623,000
+16.5%
165,0000.0%0.08%
+20.3%
CSX NewCSX CORP$3,912,000150,000
+100.0%
0.06%
PNK NewPINNACLE ENTMT INC NEW$3,473,000313,428
+100.0%
0.06%
LL NewLUMBER LIQUIDATORS HLDGS INC$3,470,000225,000
+100.0%
0.06%
ABC NewAMERISOURCEBERGEN CORP$2,633,00033,198
+100.0%
0.04%
RMGN  RMG NETWORKS HLDG CORP$2,510,000
-17.1%
2,587,2930.0%0.04%
-14.3%
RRTS NewROADRUNNER TRNSN SVCS HLDG I$2,462,000330,000
+100.0%
0.04%
SPWH NewSPORTSMANS WHSE HLDGS INC$1,894,000235,000
+100.0%
0.03%
CSBR SellCHAMPIONS ONCOLOGY INC$1,713,000
-43.5%
796,900
-4.4%
0.03%
-42.9%
CTRP SellCTRIP COM INTL LTD$1,648,000
-96.5%
40,000
-96.2%
0.03%
-96.4%
DVD  DOVER MOTORSPORTS INC$1,458,000
-4.4%
671,9310.0%0.02%0.0%
MLCO  MELCO CROWN ENTMT LTDadr$1,258,000
-23.8%
100,0000.0%0.02%
-19.2%
MMYT SellMAKEMYTRIP LIMITED MAURITIUS$817,000
-43.5%
54,973
-31.3%
0.01%
-39.1%
FMD  FIRST MARBLEHEAD CORP$292,000
+28.1%
60,0000.0%0.01%
+25.0%
GDEN ExitGOLDEN ENTMT INC$0-253,887
-100.0%
-0.04%
FCX ExitFREEPORT-MCMORAN INCcl b$0-472,500
-100.0%
-0.08%
APAM ExitARTISAN PARTNERS ASSET MGMTcl a$0-175,000
-100.0%
-0.09%
SPLS ExitSTAPLES INC$0-650,000
-100.0%
-0.12%
STT ExitSTATE STR CORP$0-180,000
-100.0%
-0.17%
PAGP ExitPLAINS GP HLDGS L P$0-1,299,974
-100.0%
-0.18%
VA ExitVIRGIN AMER INC$0-790,000
-100.0%
-0.49%
CLH ExitCLEAN HARBORS INC$0-700,000
-100.0%
-0.55%
URI ExitUNITED RENTALS INC$0-755,000
-100.0%
-0.75%
GM ExitGENERAL MTRS CO$0-2,503,550
-100.0%
-1.26%
PNK ExitPINNACLE ENTMT INC$0-2,375,058
-100.0%
-1.34%
Original filings

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

  • View 13F-HR filed 2016-08-15
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 Q2 2016 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.

Compare quarters

Export Par Capital Management's holdings