PAR Capital
Picture
Moves
Options: 1 move on a notional base, in the table below.
The book
- Very concentrated
- Concentrated
- Focused
- Diversified
- Low
- Moderate
- High
Top 5 positions
- added+0.82
- added+1.66
- added−0.69
Positions
| unresolvedGlobal Eagle Entmt Inc | 8.70% | 28,981,072 | $325M | added0% | −1.21 pp | 6 q |
| EXPEExpedia Group, Inc. | 8.02% | 3,424,800 | $300M | added+3% | +0.82 pp | 6 q |
| DALDelta Air Lines, Inc. | 7.39% | 7,639,800 | $276M | added+42% | +1.66 pp | 6 q |
| unresolvedPriceline Grp Inc | 6.57% | 212,000 | $246M | held | — | 6 q |
| ALKAlaska Air Group, Inc. | 5.48% | 4,702,364 | $205M | added×2.0 | −0.69 pp | 6 q |
| TRIPTripAdvisor, Inc. | 5.10% | 2,087,742 | $191M | held | — | 6 q |
| LUVSouthwest Airlines Co. | 5.00% | 5,535,000 | $187M | added+3% | +1.03 pp | 4 q |
| unresolvedOrbitz Worldwide Inc | 3.47% | 16,500,000 | $130M | held | — | 6 q |
| CHDNChurchill Downs Inc | 3.35% | 1,286,544 | $125M | held | — | 6 q |
| GBXThe Greenbrier Companies, Inc. | 3.32% | 1,693,700 | $124M | held | — | 6 q |
| MLCOMelco Resorts & Entertainment Limited | 2.93% | 4,168,519 | $110M | added+9% | −0.84 pp | 6 q |
| AALAmerican Airlines Group Inc. | 2.80% | 2,950,000 | $105M | added+18% | −0.16 pp | 4 q |
| URIUnited Rentals, Inc. | 2.78% | 934,813 | $104M | held | — | 6 q |
| GLPIGaming and Leisure Properties, Inc. | 2.65% | 3,202,716 | $99M | added+25% | +0.24 pp | 4 q |
| PENNPENN Entertainment, Inc. | 2.36% | 7,859,300 | $88M | added+2% | −0.22 pp | 6 q |
| SAVEQSpirit Airlines, Inc. | 2.31% | 1,250,000 | $86M | held | — | 6 q |
| BYDBoyd Gaming Corporation | 2.29% | 8,413,055 | $85M | added+2% | −0.47 pp | 6 q |
| unresolvedBally Technologies Inc | 2.05% | 951,740 | $77M | held | — | 6 q |
| ALGTAllegiant Travel Company | 1.27% | 385,000 | $48M | new | +1.27 pp | new |
| GMGeneral Motors Company | 1.21% | 1,418,550 | $45M | added+85% | +0.44 pp | 6 q |
| CHGGChegg, Inc. | 1.09% | 6,512,700 | $41M | added+40% | +0.19 pp | 3 q |
| unresolvedStone Energy Corp | 1.06% | 1,267,321 | $40M | added+86% | +0.18 pp | 6 q |
| PCYOPure Cycle Corporation | 1.04% | 5,982,970 | $39M | held | — | 6 q |
| UALUnited Airlines Holdings, Inc. | 1.00% | 800,000 | $37M | new | +1.00 pp | new |
| OCOwens Corning | 0.96% | 1,134,762 | $36M | added+2% | −0.23 pp | 6 q |
| AYIAcuity Inc. | 0.95% | 301,783 | $36M | trimmed−15% | −0.41 pp | 6 q |
| unresolvedCanadian Pac Ry Ltd | 0.92% | 165,000 | $34M | added+10% | +0.17 pp | 2 q |
| VECOVeeco Instruments Inc | 0.87% | 935,465 | $33M | trimmed−5% | −0.14 pp | 3 q |
| LNWOLight & Wonder Inc | 0.86% | 3,000,000 | $32M | added×8.4 | +0.75 pp | 2 q |
| WCGWellcare Health Plans, Inc. | 0.81% | 500,000 | $30M | new | +0.81 pp | new |
| CRMSalesforce, Inc. | 0.69% | 446,000 | $26M | trimmed−48% | −0.68 pp | 6 q |
| unresolvedPozen Inc. | 0.66% | 3,363,699 | $25M | added+17% | 0.00 pp | 6 q |
| unresolvedRite Aid Corp | 0.65% | 5,000,000 | $24M | new | +0.65 pp | new |
| unresolvedAixtron SE | 0.59% | 1,446,377 | $22M | trimmed−20% | −0.13 pp | 6 q |
| MGLNMagellan Health Services, Inc. | 0.59% | 400,000 | $22M | held | — | 6 q |
| IVZInvesco LTD | 0.53% | 500,000 | $20M | trimmed−6% | −0.02 pp | 3 q |
| APCAnadarko Petroleum Corp | 0.51% | 187,444 | $19M | held | — | 3 q |
| unresolvedValuevision Media Inc. | 0.49% | 3,562,300 | $18M | held | — | 6 q |
| FCXFreeport-McMoran Inc. | 0.47% | 540,000 | $18M | held | — | 3 q |
| GWRGenesee & Wyoming Inc. | 0.46% | 181,382 | $17M | held | — | 6 q |
| LVSLas Vegas Sands Corp. | 0.45% | 270,000 | $17M | new | +0.45 pp | new |
| APAMArtisan Partners Asset Management Inc. | 0.39% | 280,000 | $15M | added+22% | +0.03 pp | 3 q |
| CPACopa Holdings, S.A. | 0.36% | 125,000 | $13M | new | +0.36 pp | new |
| MOHMolina Healthcare, Inc. | 0.34% | 300,000 | $13M | held | — | 4 q |
| VRTSVirtus Investment Partners, Inc. | 0.33% | 70,000 | $12M | added×2.2 | +0.14 pp | 2 q |
| MLIMueller Industries, Inc. | 0.32% | 413,000 | $12M | held | — | 6 q |
| METAMeta Platforms, Inc. Class A | 0.29% | 137,500 | $11M | trimmed−2% | +0.03 pp | 6 q |
| ERICaesars Entertainment, Inc. | 0.27% | 2,400,411 | $10M | new | +0.27 pp | new |
| unresolvedPinnacle Entertainment Inc. | 0.27% | 400,000 | $10M | held | — | 6 q |
| EXPEagle Materials, Inc. | 0.26% | 94,600 | $10M | added+20% | +0.06 pp | 6 q |
| ICEIntercontinental Exchange Inc. | 0.26% | 50,000 | $10M | trimmed−38% | −0.16 pp | 3 q |
| VVISA Inc. | 0.25% | 43,000 | $9M | new | +0.25 pp | new |
| PGTIPGT, Inc. | 0.24% | 951,172 | $9M | added+1% | +0.02 pp | 3 q |
| SLABSilicon Laboratories Inc | 0.24% | 224,000 | $9M | trimmed−66% | −0.65 pp | 4 q |
| unresolvedIsle of Capri Casinos Inc. | 0.19% | 934,839 | $7M | trimmed−64% | −0.42 pp | 6 q |
| DOORMasonite International Corp | 0.19% | 130,000 | $7M | new | +0.19 pp | new |
| KLACKLA Corporation | 0.17% | 81,000 | $6M | trimmed−87% | −1.12 pp | 6 q |
| VLRSControladora Vuela Compania De Aviacion, S.a.b. De C.v. | 0.14% | 603,370 | $5M | added+11% | 0.00 pp | 3 q |
| CSGPCoStar Group Inc | 0.14% | 34,000 | $5M | new | +0.14 pp | new |
| JPMJPMorgan Chase & Co. | 0.13% | 80,000 | $5M | trimmed−43% | −0.09 pp | 3 q |
| unresolvedViggle Inc | 0.13% | 1,375,000 | $5M | held | — | 2 q |
| unresolvedAshford Hospitality Prime Inc | 0.09% | 226,258 | $3M | added×3.3 | +0.06 pp | 2 q |
| FRCBFirst Republic Bk CA | 0.09% | 70,000 | $3M | new | +0.09 pp | new |
| unresolvedQunar ADR | 0.08% | 108,843 | $3M | new | +0.08 pp | new |
| unresolvedHertz Global Holdings Inc | 0.07% | 100,000 | $3M | new | +0.07 pp | new |
| unresolvedRmg Networks Hldg Corp | 0.05% | 1,112,293 | $2M | held | — | 5 q |
| unresolvedDover Motorsports, Inc. | 0.04% | 671,931 | $2M | held | — | 6 q |
| unresolvedThe First Marblehead Corp. | 0.00% | 60,000 | $170,000 | held | — | 3 q |
| unresolvedInvensense Inc | — | −992,402 | — | exited | −0.62 pp | — |
| unresolvedMTR Gaming Group Inc | — | −2,812,564 | — | exited | −0.42 pp | — |
| unresolvedCree Inc | — | −254,300 | — | exited | −0.35 pp | — |
| SSYSStratasys Inc (ISRAEL) | — | −106,940 | — | exited | −0.34 pp | — |
| unresolvedLakes Entertainment Inc | — | −1,316,914 | — | exited | −0.17 pp | — |
| MASMasco Corporation | — | −262,900 | — | exited | −0.16 pp | — |
| EXXIEnergy Xxi Ltd | — | −219,800 | — | exited | −0.14 pp | — |
| unresolvedInternational Game Technology | — | −263,100 | — | exited | −0.12 pp | — |
| unresolvedArm Hdg.Spn.Adr | — | −55,558 | — | exited | −0.07 pp | — |
Other 13(f) securities
Options
| Contract | % of notional | Shares | Notional |
|---|---|---|---|
| LVS CALL | 100.00% | 150,000 | $9M |
Notes