Par Capital Management - Q1 2018 holdings

$9.11 Billion is the total value of Par Capital Management's 82 reported holdings in Q1 2018. The portfolio turnover from Q4 2017 to Q1 2018 was 34.5% .

 Value Shares↓ Weighting
UAL BuyUNITED CONTL HLDGS INC$1,074,989,000
+3.6%
15,474,152
+0.5%
11.80%
+1.7%
EXPE BuyEXPEDIA GROUP INC$896,302,000
-6.1%
8,117,944
+1.9%
9.84%
-7.8%
DAL BuyDELTA AIR LINES INC DEL$731,210,000
+0.0%
13,340,809
+2.2%
8.03%
-1.7%
BKNG NewBOOKING HLDGS INC$288,144,000138,505
+100.0%
3.16%
LUV BuySOUTHWEST AIRLS CO$283,124,000
-10.7%
4,942,800
+2.1%
3.11%
-12.2%
GLPI BuyGAMING & LEISURE PPTYS INC$258,371,000
+50.3%
7,719,478
+66.1%
2.84%
+47.6%
CHDN BuyCHURCHILL DOWNS INC$202,553,000
+7.0%
829,966
+2.1%
2.22%
+5.2%
OC BuyOWENS CORNING NEW$157,683,000
-11.6%
1,961,230
+1.0%
1.73%
-13.2%
CZR BuyCAESARS ENTMT CORP$140,951,000
+85.7%
12,528,939
+108.8%
1.55%
+82.5%
IGT BuyINTERNATIONAL GAME TECHNOLOG$119,884,000
+15.9%
4,485,000
+15.0%
1.32%
+13.8%
DY BuyDYCOM INDS INC$111,074,000
-2.5%
1,032,000
+1.0%
1.22%
-4.2%
WLL BuyWHITING PETE CORP NEW$108,077,000
+44.5%
3,193,750
+13.1%
1.19%
+42.0%
CONN BuyCONNS INC$103,020,000
-4.3%
3,030,000
+0.1%
1.13%
-6.0%
WMB BuyWILLIAMS COS INC DEL$97,203,000
+35.1%
3,910,000
+65.7%
1.07%
+32.7%
FB BuyFACEBOOK INCcl a$96,194,000
+1262.9%
602,000
+1405.0%
1.06%
+1236.7%
STMP BuySTAMPS COM INC$82,796,000
+12.4%
411,817
+5.1%
0.91%
+10.4%
EVHC NewENVISION HEALTHCARE CORP$76,860,0002,000,000
+100.0%
0.84%
TRUE BuyTRUECAR INC$69,283,000
+28.1%
7,323,752
+51.7%
0.76%
+26.0%
DVA NewDAVITA INC$69,237,0001,050,000
+100.0%
0.76%
SYF BuySYNCHRONY FINL$31,854,000
+65.0%
950,000
+90.0%
0.35%
+62.0%
HOME BuyAT HOME GROUP INC$29,749,000
+117.5%
928,500
+106.3%
0.33%
+113.7%
TVTY BuyTIVITY HEALTH INC$26,764,000
+35.6%
675,000
+25.0%
0.29%
+33.0%
SEMG BuySEMGROUP CORPcl a$24,402,000
-16.5%
1,140,279
+17.8%
0.27%
-18.0%
TSG BuySTARS GROUP INC$23,181,000
+721.7%
841,400
+594.9%
0.26%
+696.9%
GRPN BuyGROUPON INC$21,137,000
+23.0%
4,870,200
+44.5%
0.23%
+20.8%
BCEI BuyBONANZA CREEK ENERGY INC$20,866,000
+656.3%
753,000
+653.0%
0.23%
+638.7%
WYNN NewWYNN RESORTS LTD$20,060,000110,000
+100.0%
0.22%
CVNA BuyCARVANA COcl a$15,417,000
+59.4%
672,363
+33.0%
0.17%
+56.5%
EHTH BuyEHEALTH INC$11,646,000
+33.9%
813,856
+62.5%
0.13%
+32.0%
ANGI NewANGI HOMESERVICES INC$10,884,000802,040
+100.0%
0.12%
SWN BuySOUTHWESTERN ENERGY CO$10,392,000
-11.3%
2,400,000
+14.3%
0.11%
-13.0%
TREE BuyLENDINGTREE INC NEW$8,663,000
+371.3%
26,400
+388.9%
0.10%
+352.4%
TRVG BuyTRIVAGO N V$7,895,000
+53.9%
1,135,976
+51.5%
0.09%
+52.6%
VLRS BuyCONTROLADORA VUELA CIA DE AVspon adr rp 10$5,131,000
+51.2%
629,600
+48.8%
0.06%
+47.4%
GWR NewGENESEE & WYO INCcl a$3,540,00050,000
+100.0%
0.04%
MLCO NewMELCO RESORT ENTERTAINMENT Ladr$2,898,000100,000
+100.0%
0.03%
SGRY NewSURGERY PARTNERS INC$2,374,000138,400
+100.0%
0.03%
PAGP NewPLAINS GP HLDGS L Pltd partnr int a$2,175,000100,000
+100.0%
0.02%
DORM NewDORMAN PRODUCTS INC$1,324,00020,000
+100.0%
0.02%
Original filings

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

  • View 13F-HR filed 2018-05-15
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 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 Q1 2018 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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Export Par Capital Management's holdings