Par Capital Management - Q2 2017 holdings

$8.9 Billion is the total value of Par Capital Management's 85 reported holdings in Q2 2017. The portfolio turnover from Q1 2017 to Q2 2017 was 26.0% .

 Value Shares↓ Weighting
UAL  UNITED CONTL HLDGS INC$1,226,177,000
+6.5%
16,294,7110.0%13.77%
-1.6%
EXPE BuyEXPEDIA INC DEL$1,164,042,000
+18.1%
7,814,983
+0.0%
13.07%
+9.1%
DAL BuyDELTA AIR LINES INC DEL$702,157,000
+38.1%
13,065,809
+18.1%
7.89%
+27.6%
MCK BuyMCKESSON CORP$537,421,000
+35.3%
3,266,200
+21.9%
6.04%
+25.0%
CI SellCIGNA CORPORATION$451,953,000
-10.6%
2,700,000
-21.7%
5.08%
-17.4%
LUV  SOUTHWEST AIRLS CO$349,115,000
+15.6%
5,618,2000.0%3.92%
+6.8%
GRUB  GRUBHUB INC$292,861,000
+32.6%
6,717,0000.0%3.29%
+22.5%
PCLN  PRICELINE GRP INC$258,141,000
+5.1%
138,0050.0%2.90%
-2.9%
BYD  BOYD GAMING CORP$229,659,000
+12.7%
9,256,7010.0%2.58%
+4.2%
ALK SellALASKA AIR GROUP INC$224,400,000
-46.0%
2,500,000
-44.5%
2.52%
-50.1%
Z  ZILLOW GROUP INCcl c cap stk$190,259,000
+45.6%
3,882,0410.0%2.14%
+34.5%
CAR BuyAVIS BUDGET GROUP$178,362,000
+30.5%
6,540,608
+41.5%
2.00%
+20.5%
GLPI  GAMING & LEISURE PPTYS INC$175,045,000
+12.7%
4,646,7970.0%1.97%
+4.1%
HCA  HCA HEALTHCARE INC$174,400,000
-2.0%
2,000,0000.0%1.96%
-9.4%
OC SellOWENS CORNING NEW$163,603,000
+4.3%
2,444,762
-4.3%
1.84%
-3.6%
ERI BuyELDORADO RESORTS INC$149,496,000
+96.7%
7,474,779
+86.2%
1.68%
+81.7%
CHDN  CHURCHILL DOWNS INC$149,053,000
+15.4%
813,1650.0%1.67%
+6.6%
TRVG BuyTRIVAGO N V$147,496,000
+101.4%
6,234,000
+10.9%
1.66%
+86.2%
MGM SellMGM RESORTS INTERNATIONAL$123,433,000
-35.1%
3,944,800
-43.2%
1.39%
-40.1%
TPX  TEMPUR SEALY INTL INC$109,343,000
+14.9%
2,048,0000.0%1.23%
+6.1%
ENT  GLOBAL EAGLE ENTMT INC$103,173,000
+11.6%
28,981,0720.0%1.16%
+3.1%
TRIP SellTRIPADVISOR INC$102,971,000
-49.9%
2,695,569
-43.3%
1.16%
-53.6%
WMB SellWILLIAMS COS INC DEL$102,498,000
-17.3%
3,385,000
-19.2%
1.15%
-23.6%
TRUE  TRUECAR INC$96,231,000
+28.8%
4,828,4470.0%1.08%
+19.1%
AAL  AMERICAN AIRLS GROUP INC$83,851,000
+19.0%
1,666,3510.0%0.94%
+9.9%
ZG  ZILLOW GROUP INCcl a$79,019,000
+44.5%
1,617,9100.0%0.89%
+33.5%
CHGG SellCHEGG INC$76,706,000
+4.4%
6,241,298
-28.3%
0.86%
-3.5%
JBLU  JETBLUE AIRWAYS CORP$72,903,000
+10.8%
3,193,2900.0%0.82%
+2.4%
IGT BuyINTERNATIONAL GAME TECHNOLOG$68,420,000
+65.0%
3,738,776
+113.6%
0.77%
+52.4%
HTZGQ  HERTZ GLOBAL HLDGS INC$67,719,000
-34.4%
5,888,5760.0%0.76%
-39.4%
WEX BuyWEX INC$67,776,000
+33.4%
650,000
+32.4%
0.76%
+23.1%
DY BuyDYCOM INDS INC$67,140,000
+2.5%
750,000
+6.4%
0.75%
-5.4%
CSX  CSX CORP$61,653,000
+17.2%
1,130,0000.0%0.69%
+8.3%
CONN BuyCONNS INC$57,300,000
+131.4%
3,000,000
+6.0%
0.64%
+114.0%
RRR BuyRED ROCK RESORTS INCcl a$55,626,000
+33.4%
2,362,032
+25.7%
0.62%
+23.3%
WMS  ADVANCED DRAIN SYS INC DEL$55,014,000
-8.2%
2,737,0000.0%0.62%
-15.2%
HRI  HERC HLDGS INC$51,470,000
-19.6%
1,309,0000.0%0.58%
-25.7%
PCYO  PURECYCLE CORP$46,368,000
+39.6%
5,982,9700.0%0.52%
+29.0%
SERV  SERVICEMASTER GLOBAL HLDGS I$42,031,000
-6.1%
1,072,5000.0%0.47%
-13.2%
WLL BuyWHITING PETE CORP NEW$41,683,000
-25.5%
7,565,000
+27.9%
0.47%
-31.2%
CP  CANADIAN PAC RY LTD$39,632,000
+9.5%
246,4500.0%0.44%
+1.1%
PENN SellPENN NATL GAMING INC$38,694,000
-29.0%
1,808,113
-38.9%
0.44%
-34.4%
V  VISA INC$37,512,000
+5.5%
400,0000.0%0.42%
-2.5%
DOOR BuyMASONITE INTL CORP NEW$35,863,000
+19.1%
475,000
+25.0%
0.40%
+10.1%
CSGP  COSTAR GROUP INC$30,314,000
+27.2%
115,0000.0%0.34%
+17.2%
RAD  RITE AID CORP$26,550,000
-30.6%
9,000,0000.0%0.30%
-35.9%
EXP  EAGLE MATERIALS INC$25,395,000
-4.9%
274,7810.0%0.28%
-12.0%
SEMG BuySEMGROUP CORPcl a$23,695,000
+37.8%
877,600
+83.8%
0.27%
+27.3%
BMCH BuyBMC STK HLDGS INC$21,308,000
+4.2%
975,200
+7.7%
0.24%
-4.0%
PRSC SellPROVIDENCE SVC CORP$17,714,000
-20.3%
350,000
-30.0%
0.20%
-26.3%
ORLY NewO REILLY AUTOMOTIVE INC NEW$16,406,00075,000
+100.0%
0.18%
PGTI  PGT INNOVATIONS INC$14,866,000
+19.1%
1,161,3940.0%0.17%
+9.9%
TREE  LENDINGTREE INC NEW$14,201,000
+37.4%
82,4690.0%0.16%
+27.0%
TVTY NewTIVITY HEALTH INC$13,549,000340,000
+100.0%
0.15%
THC BuyTENET HEALTHCARE CORP$11,604,000
+19.1%
600,000
+9.1%
0.13%
+10.2%
APC NewANADARKO PETE CORP$11,562,000255,000
+100.0%
0.13%
CACQ NewCAESARS ACQUISITION COcl a$10,682,000560,719
+100.0%
0.12%
STMP NewSTAMPS COM INC$10,178,00065,717
+100.0%
0.11%
SEM BuySELECT MED HLDGS CORP$9,474,000
+34.7%
617,208
+17.1%
0.11%
+23.3%
BCEI NewBONANZA CREEK ENERGY INC$9,282,000292,700
+100.0%
0.10%
SYF NewSYNCHRONY FINL$8,946,000300,000
+100.0%
0.10%
PFSI BuyPENNYMAC FINL SVCS INCcl a$8,684,000
+2.9%
520,000
+5.1%
0.10%
-4.9%
ARLZ  ARALEZ PHARMACEUTICALS INC$8,640,000
-36.9%
6,400,0000.0%0.10%
-41.6%
TUESQ BuyTUESDAY MORNING CORP$8,433,000
-48.2%
4,438,200
+2.3%
0.10%
-52.0%
WBS  WEBSTER FINL CORP CONN$8,355,000
+4.4%
160,0000.0%0.09%
-3.1%
FRC  FIRST REP BK SAN FRANCISCO C$8,008,000
+6.7%
80,0000.0%0.09%
-1.1%
QTWO  Q2 HLDGS INC$6,097,000
+6.0%
165,0000.0%0.07%
-2.9%
FB  FACEBOOK INCcl a$6,039,000
+6.3%
40,0000.0%0.07%
-1.4%
GRPN NewGROUPON INC$5,299,0001,380,000
+100.0%
0.06%
XON  INTREXON CORP$4,250,000
+21.6%
176,4100.0%0.05%
+14.3%
OLLI SellOLLIES BARGAIN OUTLT HLDGS I$3,266,000
-76.2%
76,665
-81.3%
0.04%
-77.8%
RATE  BANKRATE INC DEL$2,683,000
+33.2%
208,7940.0%0.03%
+25.0%
CTRP  CTRIP COM INTL LTD$2,154,000
+9.6%
40,0000.0%0.02%0.0%
EHTH NewEHEALTH INC$1,410,00075,000
+100.0%
0.02%
DVD  DOVER MOTORSPORTS INC$1,411,000
-4.5%
671,9310.0%0.02%
-11.1%
CVNA NewCARVANA COcl a$1,050,00051,300
+100.0%
0.01%
PNK SellPINNACLE ENTMT INC NEW$1,005,000
-83.6%
50,854
-83.8%
0.01%
-85.1%
HUBS BuyHUBSPOT INC$658,000
+171.9%
10,000
+150.0%
0.01%
+133.3%
VLRS SellCONTROLADORA VUELA CIA DE AVspon adr rp 10$503,000
-85.6%
34,600
-86.2%
0.01%
-85.7%
TWLO NewTWILIO INCcl a$437,00015,000
+100.0%
0.01%
BV  BAZAARVOICE INC$446,000
+15.2%
90,0000.0%0.01%0.0%
NCI NewNAVIGANT CONSULTING INC$237,00012,000
+100.0%
0.00%
WIX  WIX COM LTD$278,000
+2.2%
4,0000.0%0.00%0.0%
CCRN NewCROSS CTRY HEALTHCARE INC$310,00024,000
+100.0%
0.00%
BV NewBAZAARVOICE INCput$147,00030,000
+100.0%
0.00%
RHI ExitROBERT HALF INTL INC$0-5,000
-100.0%
-0.00%
RRTS ExitROADRUNNER TRNSN SVCS HLDG I$0-63,000
-100.0%
-0.01%
SGY ExitSTONE ENERGY CORP$0-288,141
-100.0%
-0.08%
PIR ExitPIER 1 IMPORTS INC$0-890,400
-100.0%
-0.08%
XHR ExitXENIA HOTELS & RESORTS INC$0-474,211
-100.0%
-0.10%
ISLE ExitISLE OF CAPRI CASINOS INC$0-4,046,000
-100.0%
-1.30%
Original filings

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

  • View 13F-HR filed 2017-08-14
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 2017 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