Par Capital Management - Q4 2019 holdings

$5.14 Billion is the total value of Par Capital Management's 43 reported holdings in Q4 2019. The portfolio turnover from Q3 2019 to Q4 2019 was 28.8% .

 Value Shares↓ Weighting
UAL BuyUNITED AIRLINES HLDGS INC$1,241,751,000
-0.0%
14,096,389
+0.4%
24.16%
+12.4%
EXPE SellEXPEDIA GROUP INC$854,134,000
-33.4%
7,898,413
-17.2%
16.62%
-25.1%
BKNG  BOOKING HLDGS INC$324,210,000
+4.6%
157,8640.0%6.31%
+17.6%
DVA  DAVITA INC$312,050,000
+31.5%
4,159,0000.0%6.07%
+47.7%
ALGT SellALLEGIANT TRAVEL CO$282,484,000
+16.2%
1,623,100
-0.1%
5.50%
+30.5%
DAL SellDELTA AIR LINES INC DEL$233,920,000
-52.2%
4,000,000
-52.9%
4.55%
-46.3%
ALK  ALASKA AIR GROUP INC$183,603,000
+4.4%
2,710,0000.0%3.57%
+17.3%
JBLU SellJETBLUE AWYS CORP$164,334,000
-1.7%
8,778,547
-12.0%
3.20%
+10.5%
WEX  WEX INC$151,859,000
+3.7%
725,0000.0%2.96%
+16.5%
HTZGQ BuyHERTZ GLOBAL HLDGS INC$142,366,000
+29.0%
9,039,094
+13.3%
2.77%
+45.0%
CHDN SellCHURCHILL DOWNS INC$137,200,000
-48.5%
1,000,000
-53.6%
2.67%
-42.1%
GRPN SellGROUPON INC$134,702,000
-10.6%
56,360,500
-0.5%
2.62%
+0.5%
TRIP BuyTRIPADVISOR INC$102,655,000
+15.2%
3,379,017
+46.7%
2.00%
+29.4%
AAL NewAMERICAN AIRLS GROUP INC$102,105,0003,560,134
+100.0%
1.99%
SYF  SYNCHRONY FINL$100,648,000
+5.6%
2,795,0000.0%1.96%
+18.7%
V  VISA INC$84,555,000
+9.2%
450,0000.0%1.64%
+22.8%
FB SellFACEBOOK INCcl a$73,336,000
+15.1%
357,300
-0.1%
1.43%
+29.4%
TRVG  TRIVAGO N V$55,098,000
-36.3%
21,029,7960.0%1.07%
-28.4%
BYD SellBOYD GAMING CORP$49,350,000
-15.0%
1,648,293
-32.0%
0.96%
-4.5%
TRUE  TRUECAR INC$48,923,000
+39.7%
10,299,5040.0%0.95%
+57.1%
TRWH BuyTWIN RIV WORLDWIDE HLDGS INC$48,878,000
+32.4%
1,905,580
+17.8%
0.95%
+48.8%
PFSI SellPENNYMAC FINL SVCS INC$32,164,000
+11.4%
944,900
-0.5%
0.63%
+25.2%
PCYO SellPURECYCLE CORP$31,890,000
-48.2%
2,532,970
-57.7%
0.62%
-41.7%
CVNA  CARVANA COcl a$31,757,000
+39.5%
345,0000.0%0.62%
+56.9%
SKYW  SKYWEST INC$29,658,000
+12.6%
458,8840.0%0.58%
+26.5%
RRR SellRED ROCK RESORTS INCcl a$27,585,000
-23.3%
1,151,770
-35.0%
0.54%
-13.8%
SAVE NewSPIRIT AIRLS INC$20,566,000510,200
+100.0%
0.40%
IGT SellINTERNATIONAL GAME TECHNOLOG$20,379,000
-32.8%
1,361,347
-36.2%
0.40%
-24.4%
QNST SellQUINSTREET INC$18,006,000
-19.1%
1,176,100
-33.5%
0.35%
-9.1%
VLRS  CONTROLADORA VUELA CIA DE AVspon adr rp 10$15,275,000
+4.1%
1,465,8860.0%0.30%
+16.9%
PENN BuyPENN NATL GAMING INC$15,114,000
+407.2%
591,300
+269.6%
0.29%
+465.4%
BCEI  BONANZA CREEK ENERGY INC$14,044,000
+4.2%
601,7140.0%0.27%
+17.2%
SEM  SELECT MED HLDGS CORP$13,250,000
+40.9%
567,7080.0%0.26%
+58.3%
TREE  LENDINGTREE INC NEW$8,011,000
-2.2%
26,4000.0%0.16%
+9.9%
CAR  AVIS BUDGET GROUP INC$7,254,000
+14.1%
225,0000.0%0.14%
+28.2%
GSKY SellGREENSKY INCcl a$6,230,000
+12.0%
700,000
-13.9%
0.12%
+26.0%
EVER  EVERQUOTE INC$4,294,000
+60.9%
125,0000.0%0.08%
+82.6%
CHGG BuyCHEGG INC$3,791,000
+153.1%
100,000
+100.0%
0.07%
+184.6%
RLGY  REALOGY HLDGS CORP$3,388,000
+44.9%
350,0000.0%0.07%
+65.0%
AM NewANTERO MIDSTREAM CORP$2,657,000350,000
+100.0%
0.05%
DESP  DESPEGAR COM CORP$2,474,000
+19.1%
183,5260.0%0.05%
+33.3%
MMYT  MAKEMYTRIP LIMITED MAURITIUS$2,317,000
+0.9%
101,2000.0%0.04%
+12.5%
DVD  DOVER MOTORSPORTS INC$1,097,000
-6.1%
590,0000.0%0.02%
+5.0%
FLEX ExitFLEX LTDord$0-9,910
-100.0%
-0.00%
ZIXI ExitZIX CORP$0-71,900
-100.0%
-0.01%
MGM ExitMGM RESORTS INTERNATIONAL$0-70,000
-100.0%
-0.03%
IWM ExitISHARES TRput$0-200
-100.0%
-0.06%
ANTM ExitANTHEM INC$0-20,000
-100.0%
-0.08%
ABC ExitAMERISOURCEBERGEN CORP$0-75,000
-100.0%
-0.11%
TSG ExitSTARS GROUP INC$0-454,100
-100.0%
-0.12%
WBS ExitWEBSTER FINL CORP CONN$0-210,100
-100.0%
-0.17%
HTZGQ ExitHERTZ GLOBAL HLDGS INCcall$0-8,000
-100.0%
-0.20%
CAR ExitAVIS BUDGET GROUP INCput$0-4,547
-100.0%
-0.22%
GRUB ExitGRUBHUB INC$0-350,000
-100.0%
-0.34%
EHTH ExitEHEALTH INC$0-531,142
-100.0%
-0.61%
Original filings

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

  • View 13F-HR filed 2020-02-14
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 2019 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