Par Capital Management - Q4 2018 holdings

$5.98 Billion is the total value of Par Capital Management's 60 reported holdings in Q4 2018. The portfolio turnover from Q3 2018 to Q4 2018 was 32.5% .

 Value Shares↓ Weighting
UAL  UNITED CONTL HLDGS INC$1,308,210,000
-6.0%
15,624,1520.0%21.88%
+37.0%
EXPE  EXPEDIA GROUP INC$897,173,000
-13.7%
7,964,2540.0%15.00%
+25.8%
DAL SellDELTA AIR LINES INC DEL$604,579,000
-21.2%
12,115,809
-8.7%
10.11%
+14.8%
BKNG BuyBOOKING HLDGS INC$379,606,000
+38.1%
220,391
+59.1%
6.35%
+101.3%
LUV  SOUTHWEST AIRLS CO$226,255,000
-25.6%
4,867,8000.0%3.78%
+8.4%
CHDN SellCHURCHILL DOWNS INC$166,115,000
-13.8%
680,966
-1.9%
2.78%
+25.6%
ALGT BuyALLEGIANT TRAVEL CO$161,354,000
-19.6%
1,610,000
+1.7%
2.70%
+17.1%
GRPN BuyGROUPON INC$158,776,000
+506.0%
49,617,616
+613.9%
2.66%
+782.1%
JBLU BuyJETBLUE AIRWAYS CORP$139,321,000
+125.4%
8,675,000
+171.7%
2.33%
+228.2%
TRIP SellTRIPADVISOR INC$124,279,000
+1.9%
2,304,017
-3.5%
2.08%
+48.4%
ALK SellALASKA AIR GROUP INC$122,309,000
-29.0%
2,010,000
-19.6%
2.04%
+3.5%
BYD SellBOYD GAMING CORP$120,844,000
-44.5%
5,815,376
-9.5%
2.02%
-19.1%
DVA BuyDAVITA INC$110,006,000
-15.3%
2,137,700
+17.9%
1.84%
+23.4%
IGT SellINTERNATIONAL GAME TECHNOLOG$109,296,000
-31.5%
7,470,694
-7.5%
1.83%
-0.2%
WEX BuyWEX INC$101,544,000
-26.2%
725,000
+5.8%
1.70%
+7.6%
TPX  TEMPUR SEALY INTL INC$84,787,000
-21.7%
2,048,0000.0%1.42%
+14.0%
HTZGQ  HERTZ GLOBAL HLDGS INC$80,379,000
-16.4%
5,888,5760.0%1.34%
+21.7%
TRUE SellTRUECAR INC$74,975,000
-40.7%
8,275,395
-7.7%
1.25%
-13.6%
TRVG  TRIVAGO N V$73,781,000
-8.6%
13,105,0000.0%1.23%
+33.1%
OC SellOWENS CORNING NEW$70,462,000
-42.6%
1,602,144
-29.2%
1.18%
-16.5%
WMS  ADVANCED DRAIN SYS INC DEL$66,372,000
-21.5%
2,737,0000.0%1.11%
+14.3%
ENT  GLOBAL EAGLE ENTMT INC$64,628,000
-20.9%
28,981,0720.0%1.08%
+15.2%
FB  FACEBOOK INCcl a$60,013,000
-20.3%
457,8000.0%1.00%
+16.1%
V  VISA INC$59,373,000
-12.1%
450,0000.0%0.99%
+28.1%
PCYO  PURECYCLE CORP$59,411,000
-14.0%
5,982,9700.0%0.99%
+25.2%
CONN SellCONNS INC$55,975,000
-48.5%
2,967,920
-3.6%
0.94%
-25.1%
CZR SellCAESARS ENTMT CORP$53,967,000
-66.3%
7,947,967
-49.1%
0.90%
-50.9%
SYF BuySYNCHRONY FINL$51,729,000
+49.9%
2,205,000
+98.6%
0.86%
+118.4%
WMB SellWILLIAMS COS INC DEL$38,759,000
-58.5%
1,757,798
-48.8%
0.65%
-39.5%
IVV NewISHARES TRcore s&p500 etf$37,993,000151,000
+100.0%
0.64%
RRR BuyRED ROCK RESORTS INCcl a$33,863,000
-22.0%
1,667,300
+2.4%
0.57%
+13.7%
GLPI SellGAMING & LEISURE PPTYS INC$32,523,000
-81.4%
1,006,600
-79.7%
0.54%
-72.8%
EHTH SellEHEALTH INC$26,984,000
+34.2%
702,342
-1.3%
0.45%
+95.2%
ANTM BuyANTHEM INC$19,697,000
+2.7%
75,000
+7.1%
0.33%
+49.5%
BCEI BuyBONANZA CREEK ENERGY INC$19,211,000
-20.7%
929,400
+14.3%
0.32%
+15.5%
QNST BuyQUINSTREET INC$18,019,000
+637.6%
1,110,229
+516.8%
0.30%
+975.0%
WYNN SellWYNN RESORTS LTD$15,331,000
-34.8%
155,000
-16.2%
0.26%
-5.2%
PFSI NewPENNYMAC FINL SVCS INC$14,882,000700,000
+100.0%
0.25%
MGM SellMGM RESORTS INTERNATIONAL$14,556,000
-57.6%
600,000
-51.2%
0.24%
-38.3%
CI NewCIGNA CORP NEW$13,294,00070,000
+100.0%
0.22%
TSG SellSTARS GROUP INC$11,632,000
-70.9%
704,100
-56.1%
0.20%
-57.5%
CVNA SellCARVANA COcl a$11,285,000
-44.8%
345,000
-0.3%
0.19%
-19.6%
WBS  WEBSTER FINL CORP CONN$10,356,000
-16.4%
210,1000.0%0.17%
+21.8%
STMP SellSTAMPS COM INC$10,228,000
-90.2%
65,717
-85.8%
0.17%
-85.7%
SEMG SellSEMGROUP CORPcl a$9,753,000
-42.0%
707,779
-7.2%
0.16%
-15.5%
SEM SellSELECT MED HLDGS CORP$8,714,000
-23.3%
567,708
-8.0%
0.15%
+12.3%
 CAESARS ENTMT CORPnote 5.000%10/0$7,247,000
-25.0%
5,933,0440.0%0.12%
+9.0%
TUESQ SellTUESDAY MORNING CORP$6,144,000
-58.0%
3,614,118
-20.9%
0.10%
-38.7%
TREE  LENDINGTREE INC NEW$5,797,000
-4.6%
26,4000.0%0.10%
+38.6%
CAR BuyAVIS BUDGET GROUP$5,058,000
-22.9%
225,000
+10.3%
0.08%
+13.3%
VLRS BuyCONTROLADORA VUELA CIA DE AVspon adr rp 10$4,840,000
-11.1%
904,600
+24.0%
0.08%
+30.6%
ABC  AMERISOURCEBERGEN CORP$3,720,000
-19.3%
50,0000.0%0.06%
+17.0%
DDE  DOVER DOWNS GAMING & ENTMT I$2,535,000
-2.5%
915,0000.0%0.04%
+40.0%
MMYT  MAKEMYTRIP LIMITED MAURITIUS$2,462,000
-11.4%
101,2000.0%0.04%
+28.1%
STAY SellEXTENDED STAY AMER INCunit 99/99/9999b$2,472,000
-74.3%
159,500
-66.4%
0.04%
-62.7%
DESP  DESPEGAR COM CORP$2,278,000
-26.4%
183,5260.0%0.04%
+5.6%
SWN SellSOUTHWESTERN ENERGY CO$2,045,000
-63.6%
599,800
-45.5%
0.03%
-47.7%
DVD  DOVER MOTORSPORTS INC$1,263,000
-12.6%
671,9310.0%0.02%
+23.5%
EVER NewEVERQUOTE INC$1,030,000246,300
+100.0%
0.02%
MLCO SellMELCO RESORT ENTERTAINMENT Ladr$881,000
-84.9%
50,000
-81.8%
0.02%
-77.6%
DKS ExitDICKS SPORTING GOODS INC$0-150,000
-100.0%
-0.06%
GWR ExitGENESEE & WYO INCcl a$0-60,000
-100.0%
-0.06%
BMCH ExitBMC STK HLDGS INC$0-344,000
-100.0%
-0.07%
CI ExitCIGNA CORPORATION$0-70,000
-100.0%
-0.17%
PFSI ExitPENNYMAC FINL SVCS INCcl a$0-700,000
-100.0%
-0.17%
TVTY ExitTIVITY HEALTH INC$0-477,042
-100.0%
-0.18%
ANGI ExitANGI HOMESERVICES INC$0-802,040
-100.0%
-0.22%
EXP ExitEAGLE MATERIALS INC$0-274,781
-100.0%
-0.27%
YELP ExitYELP INCcl a$0-500,000
-100.0%
-0.28%
AAP ExitADVANCE AUTO PARTS INC$0-180,000
-100.0%
-0.35%
ORLY ExitO REILLY AUTOMOTIVE INC NEW$0-100,000
-100.0%
-0.40%
HOME ExitAT HOME GROUP INC$0-1,428,500
-100.0%
-0.52%
DOOR ExitMASONITE INTL CORP NEW$0-748,926
-100.0%
-0.55%
CSGP ExitCOSTAR GROUP INC$0-115,000
-100.0%
-0.56%
PENN ExitPENN NATL GAMING INC$0-1,859,904
-100.0%
-0.70%
HRI ExitHERC HLDGS INC$0-1,907,400
-100.0%
-1.12%
DY ExitDYCOM INDS INC$0-1,183,200
-100.0%
-1.15%
WLL ExitWHITING PETE CORP NEW$0-3,218,750
-100.0%
-1.96%
CTRP ExitCTRIP COM INTL LTD$0-5,056,200
-100.0%
-2.16%
ERI ExitELDORADO RESORTS INC$0-3,926,940
-100.0%
-2.19%
MCK ExitMCKESSON CORP$0-3,300,000
-100.0%
-5.02%
Original filings

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

  • View 13F-HR filed 2019-02-14
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 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-HR2024-05-15
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