Par Capital Management Q3 2018

Par Capital Management holdings Q3 2018
Name ValueChangeSharesChangeWeightingChange
UNITED CONTL HLDGS INC$1,391,487
28.13%
15,624,152
0.32%
15.97%
30.73%
EXPEDIA GROUP INC$1,039,176
7.83%
7,964,254
-0.67%
11.93%
10.02%
DELTA AIR LINES INC DEL$767,162
15.86%
13,265,809
-0.75%
8.81%
18.21%
MCKESSON CORP$437,745
-21.43%
3,300,000
-20.99%
5.02%
-19.84%
SOUTHWEST AIRLS CO$303,994
22.74%
4,867,8000.00%3.49%
25.23%
BOOKING HLDGS INC$274,794
-2.13%
138,5050.00%3.15%
-0.14%
BOYD GAMING CORP$217,556
1.09%
6,427,071
3.51%
2.50%
3.14%
ALLEGIANT TRAVEL CONew $200,7241,583,0002.30%
CHURCHILL DOWNS INC$192,714
-22.62%
693,966
-17.38%
2.21%
-21.05%
ELDORADO RESORTS INC$190,849
-10.06%
3,926,940
-27.64%
2.19%
-8.23%
CTRIP COM INTL LTD$187,939
9765.56%
5,056,200
12540.50%
2.16%
9965.79%
GAMING & LEISURE PPTYS INC$174,524
-20.25%
4,951,040
-19.01%
2.00%
-18.64%
ALASKA AIR GROUP INC$172,150
14.03%
2,500,0000.00%1.98%
16.34%
WHITING PETE CORP NEW$170,723
0.61%
3,218,7500.00%1.96%
2.65%
CAESARS ENTMT CORP$160,054
9.88%
15,614,986
14.70%
1.84%
12.11%
INTERNATIONAL GAME TECHNOLOG$159,495
-1.32%
8,075,694
16.11%
1.83%
0.68%
WEX INC$137,521
5.40%
685,0000.00%1.58%
7.54%
DAVITA INC$129,844
23.61%
1,812,700
19.83%
1.49%
26.12%
TRUECAR INC$126,451
39.74%
8,968,1520.00%1.45%
42.58%
OWENS CORNING NEW$122,825
-9.35%
2,263,230
5.85%
1.41%
-7.51%
TRIPADVISOR INC$121,950
-21.93%
2,387,893
-14.84%
1.40%
-20.35%
CONNS INC$108,778
8.72%
3,077,166
1.49%
1.25%
10.92%
TEMPUR SEALY INTL INC$108,339
10.09%
2,048,0000.00%1.24%
12.33%
STAMPS COM INC$104,463
0.24%
461,817
12.14%
1.20%
2.28%
DYCOM INDS INC$100,099
-2.11%
1,183,200
9.35%
1.15%
-0.13%
HERC HLDGS INC$97,659
8.34%
1,907,400
19.21%
1.12%
10.54%
HERTZ GLOBAL HLDGS INC$96,160
6.45%
5,888,5760.00%1.10%
8.61%
WILLIAMS COS INC DEL$93,319
-6.00%
3,432,100
-6.28%
1.07%
-4.10%
ADVANCED DRAIN SYS INC DEL$84,573
8.23%
2,737,0000.00%0.97%
10.43%
GLOBAL EAGLE ENTMT INC$81,727
11.91%
28,981,0720.00%0.94%
14.18%
TRIVAGO N V$80,727
191.25%
13,105,000
114.66%
0.93%
197.17%
FACEBOOK INCcl a$75,290
-44.47%
457,800
-34.39%
0.86%
-43.35%
PURECYCLE CORP$69,103
20.94%
5,982,9700.00%0.79%
23.40%
VISA INC$67,541
13.32%
450,0000.00%0.78%
15.62%
JETBLUE AIRWAYS CORP$61,822
2.00%
3,193,2900.00%0.71%
4.07%
PENN NATL GAMING INC$61,228
-1.99%
1,859,9040.00%0.70%
-0.01%
COSTAR GROUP INC$48,397
1.99%
115,0000.00%0.56%
4.06%
MASONITE INTL CORP NEW$48,006
-10.79%
748,9260.00%0.55%
-8.98%
AT HOME GROUP INC$45,041
23.91%
1,428,500
53.85%
0.52%
26.42%
RED ROCK RESORTS INCcl a$43,413
-32.12%
1,629,000
-14.67%
0.50%
-30.74%
STARS GROUP INC$39,961
11.42%
1,604,843
62.43%
0.46%
13.68%
O REILLY AUTOMOTIVE INC NEW$34,732
26.96%
100,0000.00%0.40%
29.54%
SYNCHRONY FINL$34,499
-1.26%
1,110,000
6.04%
0.40%
0.74%
MGM RESORTS INTERNATIONAL$34,329
-3.86%
1,230,0000.00%0.39%
-1.91%
ADVANCE AUTO PARTS INC$30,299
24.04%
180,0000.00%0.35%
26.56%
GROUPON INC$26,202
25.12%
6,950,000
42.70%
0.30%
27.66%
YELP INCcl aNew $24,600500,0000.28%
BONANZA CREEK ENERGY INC$24,211
-15.10%
813,000
7.97%
0.28%
-13.37%
WYNN RESORTS LTD$23,506
40.47%
185,000
85.00%
0.27%
43.32%
EAGLE MATERIALS INC$23,422
-18.80%
274,7810.00%0.27%
-17.15%
CARVANA COcl a$20,455
34.04%
346,163
-5.64%
0.23%
36.76%
EHEALTH INC$20,107
11.79%
711,517
-12.57%
0.23%
14.06%
ANTHEM INCNew $19,18470,0000.22%
ANGI HOMESERVICES INC$18,832
52.67%
802,0400.00%0.22%
55.77%
SEMGROUP CORPcl a$16,819
-13.19%
762,7790.00%0.19%
-11.43%
TIVITY HEALTH INC$15,337
-54.22%
477,042
-49.87%
0.18%
-53.29%
PENNYMAC FINL SVCS INCcl a$14,630
9.84%
700,000
3.28%
0.17%
12.07%
TUESDAY MORNING CORP$14,620
4.92%
4,568,6000.00%0.17%
7.05%
CIGNA CORPORATIONNew $14,57870,0000.17%
WEBSTER FINL CORP CONN$12,387
-7.44%
210,1000.00%0.14%
-5.56%
SELECT MED HLDGS CORP$11,360
1.37%
617,4080.00%0.13%
3.43%
CAESARS ENTMT CORPnote 5.000%10/0$9,662
-5.65%
5,933,0440.00%0.11%
-3.74%
EXTENDED STAY AMER INCunit 99/99/9999bNew $9,609475,0000.11%
AVIS BUDGET GROUP$6,557
23.02%
204,000
24.39%
0.08%
25.52%
BMC STK HLDGS INC$6,416
-60.30%
344,000
-55.62%
0.07%
-59.50%
LENDINGTREE INC NEW$6,075
7.64%
26,4000.00%0.07%
9.82%
MELCO RESORT ENTERTAINMENT Ladr$5,816
38.48%
275,000
83.33%
0.07%
41.29%
SOUTHWESTERN ENERGY CO$5,621
-55.81%
1,100,000
-54.17%
0.06%
-54.91%
GENESEE & WYO INCcl a$5,459
11.89%
60,0000.00%0.06%
14.16%
CONTROLADORA VUELA CIA DE AVspon adr rp 10$5,443
52.08%
729,600
3.55%
0.06%
55.17%
DICKS SPORTING GOODS INC$5,322
0.64%
150,0000.00%0.06%
2.69%
AMERISOURCEBERGEN CORP$4,611
8.14%
50,0000.00%0.05%
10.33%
DESPEGAR COM CORP$3,096
-19.56%
183,5260.00%0.04%
-17.93%
MAKEMYTRIP LIMITED MAURITIUS$2,778
-24.06%
101,2000.00%0.03%
-22.52%
DOVER DOWNS GAMING & ENTMT INew $2,599915,0000.03%
QUINSTREET INC$2,443
6.87%
180,0000.00%0.03%
9.04%
DOVER MOTORSPORTS INC$1,445
-4.43%
671,9310.00%0.02%
-2.49%
CSX CORPSold $0-388,000-0.28%
ENVISION HEALTHCARE CORPSold $0-1,850,000-0.92%
AMERICAN AIRLS GROUP INCSold $0-1,318,851-0.56%
ARALEZ PHARMACEUTICALS INCSold $0-481,400-0.00%
ZILLOW GROUP INCcl c cap stkSold $0-3,882,041-2.58%
ZILLOW GROUP INCcl aSold $0-1,693,600-1.14%
PLAINS GP HLDGS L Pltd partnr int aSold $0-350,000-0.09%
CHEGG INCSold $0-4,621,948-1.44%
ANADARKO PETE CORPSold $0-500,000-0.41%
SERVICEMASTER GLOBAL HLDGS ISold $0-1,072,500-0.72%
GRUBHUB INCSold $0-2,831,400-3.34%
Portfolio Information
QuarterQ3 2018
Total value$8,712,384,000
Holdings77
Managers
Paul Reeder
Edward Shapiro
Quarters
2018-09-30
$8,712,384
2018-06-30
$8,889,204
2018-03-31
$9,107,444
2017-12-31
$8,946,298
2017-09-30
$8,801,640
2017-06-30
$8,903,195
2017-03-31
$8,227,237
2016-12-31
$7,649,246
2016-09-30
$6,924,907
2016-06-30
$6,025,994
2016-03-31
$6,240,471
2015-12-31
$5,434,983
2015-09-30
$4,742,625
2015-06-30
$4,421,842
2015-03-31
$4,336,401
2014-12-31
$4,330,333
2014-09-30
$3,748,805
2014-06-30
$3,624,238
2014-03-31
$3,308,514
2013-12-31
$3,006,624
2013-09-30
$3,256,398
2013-06-30
$3,560,766
SEC Filings