Par Capital Management - Q4 2016 holdings

$7.65 Billion is the total value of Par Capital Management's 75 reported holdings in Q4 2016. The portfolio turnover from Q3 2016 to Q4 2016 was 21.2% .

 Value Shares↓ Weighting
UAL  UNITED CONTL HLDGS INC$1,187,559,000
+38.9%
16,294,7110.0%15.52%
+25.7%
EXPE  EXPEDIA INC DEL$804,291,000
-2.9%
7,100,0270.0%10.52%
-12.1%
DAL SellDELTA AIR LINES INC DEL$544,327,000
+20.6%
11,065,809
-3.5%
7.12%
+9.2%
CI BuyCIGNA CORPORATION$453,526,000
+15.3%
3,400,000
+12.7%
5.93%
+4.4%
ALK SellALASKA AIR GROUP INC$399,495,000
+33.2%
4,502,364
-1.1%
5.22%
+20.6%
MCK BuyMCKESSON CORP$280,991,000
+59.0%
2,000,650
+88.7%
3.67%
+43.9%
LUV BuySOUTHWEST AIRLS CO$280,011,000
+31.1%
5,618,200
+2.3%
3.66%
+18.7%
GRUB  GRUBHUB INC$205,217,000
-12.5%
5,455,0000.0%2.68%
-20.8%
PCLN  PRICELINE GRP INC$202,324,000
-0.4%
138,0050.0%2.64%
-9.8%
MGM SellMGM RESORTS INTERNATIONAL$191,570,000
+10.6%
6,644,800
-0.2%
2.50%
+0.1%
ENT  GLOBAL EAGLE ENTMT INC$187,218,000
-22.3%
28,981,0720.0%2.45%
-29.6%
BYD BuyBOYD GAMING CORP$184,616,000
+16.5%
9,152,986
+14.3%
2.41%
+5.5%
TRIP BuyTRIPADVISOR INC$151,143,000
-26.1%
3,259,490
+0.7%
1.98%
-33.1%
HCA  HCA HOLDINGS INC$148,040,000
-2.1%
2,000,0000.0%1.94%
-11.4%
Z  ZILLOW GROUP INCcl c cap stk$141,578,000
+5.3%
3,882,0410.0%1.85%
-4.7%
GLPI BuyGAMING & LEISURE PPTYS INC$140,754,000
+11.6%
4,596,797
+21.9%
1.84%
+1.0%
OC BuyOWENS CORNING NEW$134,559,000
-2.7%
2,609,762
+0.8%
1.76%
-11.9%
CHDN SellCHURCHILL DOWNS INC$122,341,000
-41.1%
813,165
-42.7%
1.60%
-46.7%
ISLE BuyISLE OF CAPRI CASINOS INC$99,896,000
+19.8%
4,046,000
+8.1%
1.31%
+8.5%
CP SellCANADIAN PAC RY LTD$84,441,000
-11.0%
591,450
-4.8%
1.10%
-19.4%
WMB BuyWILLIAMS COS INC DEL$80,341,000
+6.3%
2,580,000
+4.9%
1.05%
-3.8%
ERI  ELDORADO RESORTS INC$79,072,000
+20.6%
4,665,0000.0%1.03%
+9.2%
AAL BuyAMERICAN AIRLS GROUP INC$77,802,000
+113.1%
1,666,351
+67.1%
1.02%
+93.0%
RAD BuyRITE AID CORP$74,160,000
+21.5%
9,000,000
+13.4%
0.97%
+10.1%
JBLU SellJETBLUE AIRWAYS CORP$73,818,000
+26.2%
3,292,490
-2.9%
0.96%
+14.2%
IGT  INTERNATIONAL GAME TECHNOLOG$70,180,000
+4.7%
2,750,0000.0%0.92%
-5.3%
WCG  WELLCARE HEALTH PLANS INC$64,935,000
+17.1%
473,7010.0%0.85%
+6.0%
CHGG  CHEGG INC$64,225,000
+4.1%
8,702,5980.0%0.84%
-5.7%
TRUE SellTRUECAR INC$61,606,000
+29.7%
4,928,447
-2.0%
0.80%
+17.3%
ZG  ZILLOW GROUP INCcl a$58,973,000
+5.8%
1,617,9100.0%0.77%
-4.2%
DY BuyDYCOM INDS INC$56,203,000
+47.8%
700,000
+50.5%
0.74%
+33.9%
WMS BuyADVANCED DRAIN SYS INC DEL$53,354,000
-12.7%
2,590,000
+2.0%
0.70%
-20.9%
WEX BuyWEX INC$52,452,000
+11.6%
470,000
+8.0%
0.69%
+1.0%
HRI  HERC HLDGS INC$52,168,000
+19.2%
1,299,0000.0%0.68%
+7.9%
CAR  AVIS BUDGET GROUP$50,834,000
+7.2%
1,385,8690.0%0.66%
-2.9%
PENN  PENN NATL GAMING INC$46,114,000
+1.6%
3,344,0130.0%0.60%
-7.9%
SGMS SellSCIENTIFIC GAMES CORPcl a$41,835,000
+22.7%
2,988,213
-1.2%
0.55%
+11.2%
WLL BuyWHITING PETE CORP NEW$41,169,000
+42.7%
3,425,000
+3.8%
0.54%
+29.3%
SERV  SERVICEMASTER GLOBAL HLDGS I$40,401,000
+11.8%
1,072,5000.0%0.53%
+1.1%
DVA BuyDAVITA INC$38,520,000
+16.6%
600,000
+20.0%
0.50%
+5.7%
IVZ  INVESCO LTD$37,167,000
-3.0%
1,225,0000.0%0.49%
-12.1%
VLRS SellCONTROLADORA VUELA CIA DE AVspon adr rp 10$37,144,000
-34.0%
2,469,670
-23.7%
0.49%
-40.2%
EXP SellEAGLE MATERIALS INC$34,957,000
-27.2%
354,781
-42.8%
0.46%
-34.1%
PCYO  PURECYCLE CORP$32,906,000
-4.2%
5,982,9700.0%0.43%
-13.3%
CSX BuyCSX CORP$30,541,000
+300.5%
850,000
+240.0%
0.40%
+262.7%
V BuyVISA INC$29,258,000
+24.1%
375,000
+31.6%
0.38%
+12.4%
ARLZ  ARALEZ PHARMACEUTICALS INC$28,224,000
-9.1%
6,400,0000.0%0.37%
-17.6%
RRR BuyRED ROCK RESORTS INCcl a$25,161,000
+99.4%
1,085,000
+102.8%
0.33%
+80.8%
CSGP BuyCOSTAR GROUP INC$21,676,000
+17.8%
115,000
+35.3%
0.28%
+6.4%
TRVG NewTRIVAGO N V$20,563,0001,750,000
+100.0%
0.27%
PRSC BuyPROVIDENCE SVC CORP$19,025,000
+56.4%
500,000
+99.9%
0.25%
+41.5%
TUESQ BuyTUESDAY MORNING CORP$18,922,000
+38.3%
3,504,155
+53.2%
0.25%
+24.7%
SF BuySTIFEL FINL CORP$18,731,000
+39.2%
375,000
+7.1%
0.24%
+26.3%
DOOR BuyMASONITE INTL CORP NEW$17,569,000
+14.4%
267,000
+8.1%
0.23%
+3.6%
SEMG BuySEMGROUP CORPcl a$15,761,000
+36.1%
377,500
+15.3%
0.21%
+23.4%
BMCH BuyBMC STK HLDGS INC$15,698,000
+16.5%
805,000
+5.9%
0.20%
+5.1%
PGTI  PGT INNOVATIONS INC$13,124,000
+7.3%
1,146,1720.0%0.17%
-2.8%
ITG SellINVESTMENT TECHNOLOGY GRP NE$12,732,000
+14.3%
645,000
-0.8%
0.17%
+3.1%
ICE BuyINTERCONTINENTAL EXCHANGE IN$12,695,000
+57.1%
225,000
+650.0%
0.17%
+41.9%
OLLI SellOLLIES BARGAIN OUTLT HLDGS I$10,932,000
-17.1%
384,265
-23.7%
0.14%
-25.1%
XHR  XENIA HOTELS & RESORTS INC$9,209,000
+27.9%
474,2110.0%0.12%
+15.4%
WBS  WEBSTER FINL CORP CONN$8,685,000
+42.8%
160,0000.0%0.11%
+29.5%
TREE NewLENDINGTREE INC NEW$8,358,00082,469
+100.0%
0.11%
PFSI SellPENNYMAC FINL SVCS INCcl a$7,443,000
-4.0%
447,000
-1.9%
0.10%
-13.4%
FRC  FIRST REP BK SAN FRANCISCO C$7,371,000
+19.5%
80,0000.0%0.10%
+7.9%
CMA SellCOMERICA INC$6,423,000
-22.6%
94,300
-46.2%
0.08%
-30.0%
QTWO  Q2 HLDGS INC$4,760,000
+0.7%
165,0000.0%0.06%
-8.8%
FB NewFACEBOOK INCcl a$4,602,00040,000
+100.0%
0.06%
PNK  PINNACLE ENTMT INC NEW$4,545,000
+17.5%
313,4280.0%0.06%
+5.4%
ETFC  E TRADE FINANCIAL CORP$3,638,000
+19.0%
105,0000.0%0.05%
+9.1%
RRTS  ROADRUNNER TRNSN SVCS HLDG I$3,429,000
+30.2%
330,0000.0%0.04%
+18.4%
ZNGA NewZYNGA INCcl a$1,928,000750,000
+100.0%
0.02%
CTRP  CTRIP COM INTL LTD$1,600,000
-14.1%
40,0000.0%0.02%
-22.2%
DOV  DOVER CORP$1,545,000
-6.9%
671,9310.0%0.02%
-16.7%
WYNN SellWYNN RESORTS LTD$865,000
-97.2%
10,000
-96.8%
0.01%
-97.5%
GOOGL ExitALPHABET INCcap stk cl a$0-750
-100.0%
-0.01%
CSBR ExitCHAMPIONS ONCOLOGY INC$0-384,282
-100.0%
-0.01%
MMYT ExitMAKEMYTRIP LIMITED MAURITIUS$0-54,973
-100.0%
-0.02%
SPWH ExitSPORTSMANS WHSE HLDGS INC$0-161,419
-100.0%
-0.02%
RMGN ExitRMG NETWORKS HLDG CORP$0-2,177,434
-100.0%
-0.03%
ExitSTONE ENERGY CORPnote 1.750% 3/0$0-4,509,000
-100.0%
-0.04%
ABC ExitAMERISOURCEBERGEN CORP$0-33,198
-100.0%
-0.04%
PIR ExitPIER 1 IMPORTS INC$0-1,000,000
-100.0%
-0.06%
UNP ExitUNION PAC CORP$0-50,000
-100.0%
-0.07%
H ExitHYATT HOTELS CORPput$0-100,000
-100.0%
-0.07%
NFX ExitNEWFIELD EXPL CO$0-202,500
-100.0%
-0.13%
APC ExitANADARKO PETE CORP$0-187,444
-100.0%
-0.17%
W ExitWAYFAIR INCcl a$0-300,000
-100.0%
-0.17%
DKS ExitDICKS SPORTING GOODS INC$0-350,000
-100.0%
-0.29%
Original filings

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

  • View 13F-HR filed 2017-02-14
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 Q4 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-HR2024-05-15
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
13F-HR2022-05-16
13F-HR2022-02-14

View Par Capital Management's complete filings history.

Compare quarters

Export Par Capital Management's holdings