PAR CAPITAL MANAGEMENT INC

HTTP://PARCAPITAL.COM BOSTON, MA Investment Advisor Hedge Fund Activist Investor How do I update this listing?

PAR Capital Management was founded in Boston by Paul A. Reeder III. PAR Capital Management has met the qualifications for inclusion in our WhaleScore system. Whalewisdom has at least 83 13F filings, 6 13D filings, 7 13G filings, and 1 Form 4 filings Their last reported 13F filing for Q2 2019 included $5,970,725,000 in managed 13F securities and a top 10 holdings concentration of 78.63%. PAR Capital Management's largest holding is United Airlines Holdings Inc with shares held of 15,063,683.

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68

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06/30/2019

13F Sector Allocation Over Time

06/30/2019

13F Activity

  • Market Value $5.971 Billion
  • Prior Market Value $5.389 Billion
  • New Purchases6 stocks
  • Additional Purchases14 stocks
  • Sold out of3 stocks
  • Reduced holdings in8 stocks
  • Top 10 Holdings % 78.63 %
  • Turnover % [1]:17.31%
  • Turnover Alt % [2]: 6.50 %
  • Time Held Top20:12.30 quarters
  • Time Held Top10:9.40 quarters
  • Time Held All:13.08 quarters

[1]: Turnover is calculated by taking the # of new holdings (initial purchases) + the # of positions sold out of (not just reduced) divided by the total # of holdings for the quarter.

[2]: Alt Turnover is calculated by taking either the total MV of new purchases or the MV of securities sold, whichever is less, divided by the total MV of the fund.

Portfolio Performance

Top 20 equal-weighted holdings. Performance numbers calculated through 2019-08-14

Performance for Q2 2019: -3.24%
Performance Last 4 Quarters: -16.95%
Performance Metrics
Stdev (5-yrs): Subscription required BETA (5-yrs): Subscription required ALPHA (3-yrs): Subscription required
Max Drawdown (all-years): Subscription required Annualized Perf (3-yrs): Subscription required Batting Avg vs S&P. (3-yrs): Subscription required
Sortino (3-yrs): Subscription required Stutzer (3-yrs): Subscription required Treynor (3-yrs): Subscription required
Sterling (3-yrs): Subscription required Calmar (3-yrs): Subscription required Information Ratio (3-yrs): Subscription required
Tracking Error (3 yrs): Subscription required Stdev Down (3-yrs): Subscription required Winning Months %: Subscription required
Losing Months %: Subscription required Best 12 Months: Subscription required Worst 12 Months: Subscription required
Efficiency Ratio (3-yrs): Subscription required Sharpe: Subscription required Stdev Sectors: Subscription required
Skewness (3-yrs): Subscription required Kurtosis (3-yrs): Subscription required Upside Potential (3-yrs): Subscription required

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13F Filings Available:
  • 2019-06-30 - 13F-HR (Subscription required)
  • 2019-03-31 - 13F-HR (Subscription required)
  • 2018-12-31 - 13F-HR (Subscription required)
  • 2018-09-30 - 13F-HR (Subscription required)
  • 2018-06-30 - 13F-HR (Subscription required)
  • 2018-03-31 - 13F-HR (Subscription required)
  • 2017-12-31 - 13F-HR (Subscription required)
  • 2017-09-30 - 13F-HR (Subscription required)
  • 2017-06-30 - 13F-HR (Subscription required)
  • 2017-03-31 - 13F-HR (Subscription required)
  • 2016-12-31 - 13F-HR (Subscription required)
  • 2016-09-30 - 13F-HR (Subscription required)
  • 2016-06-30 - 13F-HR (Subscription required)
  • 2016-03-31 - 13F-HR (Subscription required)
  • 2015-12-31 - 13F-HR (Subscription required)
  • 2015-09-30 - 13F-HR (Subscription required)
  • 2015-06-30 - 13F-HR (Subscription required)
  • 2015-03-31 - 13F-HR (Subscription required)
  • 2014-12-31 - 13F-HR (Subscription required)
  • 2014-09-30 - 13F-HR (Subscription required)
  • 2014-06-30 - 13F-HR (Subscription required)
  • 2014-03-31 - 13F-HR (Subscription required)
  • 2013-12-31 - 13F-HR (Subscription required)
  • 2013-09-30 - 13F-HR (Subscription required)
  • 2013-06-30 - 13F-HR (Subscription required)
  • 2013-03-31 - 13F-HR (Subscription required)
  • 2012-12-31 - 13F-HR (Subscription required)
  • 2012-09-30 - 13F-HR (Subscription required)
  • 2012-06-30 - 13F-HR/A (Subscription required)
  • 2012-06-30 - 13F-HR/A (Subscription required)
  • 2012-06-30 - 13F-HR (Subscription required)
  • 2012-03-31 - 13F-HR (Subscription required)
  • 2011-12-31 - 13F-HR (Subscription required)
  • 2011-09-30 - 13F-HR (Subscription required)
  • 2011-06-30 - 13F-HR (Subscription required)
  • 2011-03-31 - 13F-HR (Subscription required)
  • 2010-12-31 - 13F-HR/A (Subscription required)
  • 2010-12-31 - 13F-HR (Subscription required)
  • 2010-09-30 - 13F-HR (Subscription required)
  • 2010-06-30 - 13F-HR (Subscription required)
  • 2010-03-31 - 13F-HR (Subscription required)
  • 2009-12-31 - 13F-HR (Subscription required)
  • 2009-09-30 - 13F-HR (Subscription required)
  • 2009-06-30 - 13F-HR (Subscription required)
  • 2009-03-31 - 13F-HR (Subscription required)
  • 2008-12-31 - 13F-HR/A (Subscription required)
  • 2008-09-30 - 13F-HR/A (Subscription required)
  • 2008-09-30 - 13F-HR (Subscription required)
  • 2008-06-30 - 13F-HR (Subscription required)
  • 2008-03-31 - 13F-HR (Subscription required)
  • 2007-12-31 - 13F-HR (Subscription required)
  • 2007-09-30 - 13F-HR (Subscription required)
  • 2007-06-30 - 13F-HR (Subscription required)
  • 2007-03-31 - 13F-HR (Subscription required)
  • 2006-12-31 - 13F-HR (Subscription required)
  • 2006-09-30 - 13F-HR (Subscription required)
  • 2006-06-30 - 13F-HR/A (Subscription required)
  • 2006-06-30 - 13F-HR (Subscription required)
  • 2006-03-31 - 13F-HR/A (Subscription required)
  • 2006-03-31 - 13F-HR (Subscription required)
  • 2005-12-31 - 13F-HR/A (Subscription required)
  • 2005-12-31 - 13F-HR (Subscription required)
  • 2005-09-30 - 13F-HR/A (Subscription required)
  • 2005-09-30 - 13F-HR (Subscription required)
  • 2005-06-30 - 13F-HR (Subscription required)
  • 2005-03-31 - 13F-HR (Subscription required)
  • 2004-12-31 - 13F-HR (Subscription required)
  • 2004-09-30 - 13F-HR (Subscription required)
  • 2004-06-30 - 13F-HR (Subscription required)
  • 2004-03-31 - 13F-HR (Subscription required)
  • 2003-12-31 - 13F-HR (Subscription required)
  • 2003-09-30 - 13F-HR (Subscription required)
  • 2003-06-30 - 13F-HR (Subscription required)
  • 2003-03-31 - 13F-HR (Subscription required)
  • 2002-12-31 - 13F-HR (Subscription required)
  • 2002-09-30 - 13F-HR (Subscription required)
  • 2002-06-30 - 13F-HR (Subscription required)
  • 2002-03-31 - 13F-HR (Subscription required)
  • 2001-12-31 - 13F-HR (Subscription required)
  • 2001-09-30 - 13F-HR (Subscription required)
  • 2001-06-30 - 13F-HR (Subscription required)
  • 2001-03-31 - 13F-HR (Subscription required)

View Last Form Adv Compilation Report on Record

PAR CAPITAL MANAGEMENT, INC.
Classified as Hedge Fund
200 CLARENDON STREET, 48FL
BOSTON MA    02116
Country: United States

Business Phone: 6175268990
Fax: 617-556-8875
Professional Investment Advisor Data
SEC Registration as : Large Advisory Firm
Form of Organization: Corporation
Organized in: DE
Number of employees: 19
Other Business Activities: commodity pool operator or commodity trading advisor
Advisor Fees/Compensation: Percentage of assets under management,Performance-based fees
Amount of client funds and securities: 0
Total Number of Clients: 1
Amount of client funds and securities by related persons: 5,321,010,000
Total Number of clients from related persons: 1
Disclosures:
Data above was derived from SEC filings.

Active Schedule 13D and 13G events

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Form 4 - Recent Insider Transactions

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PAR CAPITAL MANAGEMENT, INC.

ownership team - last updated 2019-03-29
Name Title Start Date Direct/Indirect % Ownership
DOWNS, FREDERICK, SHELDON SHAREHOLDER/VICE PRESIDENT 06/01/1992 Direct 10 - 25%
Fund Name Position direct/indirect start date end date
PAR CAPITAL MANAGEMENT, INC. SHAREHOLDER/VICE PRESIDENT direct 1992-06-01
EPKER, ARTHUR, GEORGE SHAREHOLDER 06/01/1992 Direct 10 - 25%
Fund Name Position direct/indirect start date end date
PAR CAPITAL MANAGEMENT, INC. SHAREHOLDER/VICE PRESIDENT direct 1992-06-01
REEDER, PAUL, ARLINGTON SHAREHOLDER/PRESIDENT 05/01/1992 Direct 25 - 50%
Fund Name Position direct/indirect start date end date
PAR CAPITAL MANAGEMENT, INC. SHAREHOLDER/PRESIDENT direct 1992-05-01
SMITH, STEVEN, MICHAEL SHAREHOLDER / CHIEF OPERATING OFFICER, GENERAL COUNSEL AND CHIEF COMPLIANCE OFFICER 11/01/2010 Direct less than 5%
Fund Name Position direct/indirect start date end date
NUMERIC INVESTORS LLC CHIEF LEGAL OFFICER direct 2007-10-01
NUMERIC INVESTORS LLC CHIEF LEGAL OFFICER & CHIEF COMPLIANCE OFFICER direct 2007-10-01
PAR CAPITAL MANAGEMENT, INC. SHAREHOLDER / CHIEF OPERATING OFFICER AND GENERAL COUNSEL direct 2010-11-01
PAR CAPITAL MANAGEMENT, INC. SHAREHOLDER / CHIEF OPERATING OFFICER, GENERAL COUNSEL AND CHIEF COMPLIANCE OFFICER direct 2010-11-01
PAR CAPITAL MANAGEMENT, INC. CHIEF OPERATING OFFICER AND GENERAL COUNSEL direct 2010-11-01
MOEYKENS, WILLIAM, DAVID VICE PRESIDENT OF FINANCE 01/01/2012 Direct less than 5%
Fund Name Position direct/indirect start date end date
DELTA PARTNERS LLC CHIEF FINANCIAL OFFICER direct 2007-01-01
PAR CAPITAL MANAGEMENT, INC. VICE PRESIDENT OF FINANCE direct 2012-01-01
TUCKER, MICHAEL, JAMES SHAREHOLDER/VICE PRESIDENT 01/01/2014 Direct 5 - 10%
Fund Name Position direct/indirect start date end date
ANDOVER CAPITAL ADVISORS L.P. PARTNER direct 2004-04-01
PAR CAPITAL MANAGEMENT, INC. SHAREHOLDER/VICE PRESIDENT direct 2014-01-01
BUCHANAN, JOHN, MATTHEW SHAREHOLDER/VICE PRESIDENT 01/01/2018 Direct less than 5%
Fund Name Position direct/indirect start date end date
PAR CAPITAL MANAGEMENT, INC. SHAREHOLDER/VICE PRESIDENT direct 2018-01-01
SHAPIRO, EDWARD, LOUIS SHAREHOLDER 02/01/1999 Direct 5 - 10%
Fund Name Position direct/indirect start date end date
PAR CAPITAL MANAGEMENT, INC. SHAREHOLDER/VICE PRESIDENT direct 1999-02-01
GRASMICK, KEVIN, PETER SHAREHOLDER/VICE PRESIDENT 12/01/2018 Direct 5 - 10%
Fund Name Position direct/indirect start date end date
PAR CAPITAL MANAGEMENT, INC. SHAREHOLDER/VICE PRESIDENT direct 2018-12-01

Private Funds

Name Country Fund Identification Number Fund Type Gross Asset Value Minimum Investment Other
PAR INVESTMENT PARTNERS, L.P. United States 805-2605410848 Hedge Fund 5,321,012,545 1,000,000

PAR CAPITAL MANAGEMENT, INC.

ownership team - last updated 2017-03-30
Name Title Start Date Direct/Indirect % Ownership
DOWNS, FREDERICK, SHELDON SHAREHOLDER/VICE PRESIDENT 06/01/1992 Direct 10 - 25%
Fund Name Position direct/indirect start date end date
PAR CAPITAL MANAGEMENT, INC. SHAREHOLDER/VICE PRESIDENT direct 1992-06-01
EPKER, ARTHUR, GEORGE SHAREHOLDER/VICE PRESIDENT 06/01/1992 Direct 10 - 25%
Fund Name Position direct/indirect start date end date
PAR CAPITAL MANAGEMENT, INC. SHAREHOLDER/VICE PRESIDENT direct 1992-06-01
REEDER, PAUL, ARLINGTON SHAREHOLDER/PRESIDENT 05/01/1992 Direct 25 - 50%
Fund Name Position direct/indirect start date end date
PAR CAPITAL MANAGEMENT, INC. SHAREHOLDER/PRESIDENT direct 1992-05-01
SMITH, STEVEN, MICHAEL SHAREHOLDER / CHIEF OPERATING OFFICER, GENERAL COUNSEL AND CHIEF COMPLIANCE OFFICER 11/01/2010 Direct less than 5%
Fund Name Position direct/indirect start date end date
NUMERIC INVESTORS LLC CHIEF LEGAL OFFICER direct 2007-10-01
NUMERIC INVESTORS LLC CHIEF LEGAL OFFICER & CHIEF COMPLIANCE OFFICER direct 2007-10-01
PAR CAPITAL MANAGEMENT, INC. SHAREHOLDER / CHIEF OPERATING OFFICER AND GENERAL COUNSEL direct 2010-11-01
PAR CAPITAL MANAGEMENT, INC. SHAREHOLDER / CHIEF OPERATING OFFICER, GENERAL COUNSEL AND CHIEF COMPLIANCE OFFICER direct 2010-11-01
PAR CAPITAL MANAGEMENT, INC. CHIEF OPERATING OFFICER AND GENERAL COUNSEL direct 2010-11-01
MOEYKENS, WILLIAM, DAVID VICE PRESIDENT OF FINANCE 01/01/2012 Direct less than 5%
Fund Name Position direct/indirect start date end date
DELTA PARTNERS LLC CHIEF FINANCIAL OFFICER direct 2007-01-01
PAR CAPITAL MANAGEMENT, INC. VICE PRESIDENT OF FINANCE direct 2012-01-01
TUCKER, MICHAEL, JAMES SHAREHOLDER/VICE PRESIDENT 01/01/2014 Direct less than 5%
Fund Name Position direct/indirect start date end date
ANDOVER CAPITAL ADVISORS L.P. PARTNER direct 2004-04-01
PAR CAPITAL MANAGEMENT, INC. SHAREHOLDER/VICE PRESIDENT direct 2014-01-01
FRAZIER, HERBERT, ANSELEM SHAREHOLDER/VICE PRESIDENT 01/01/2015 Direct less than 5%
Fund Name Position direct/indirect start date end date
PAR CAPITAL MANAGEMENT, INC. SHAREHOLDER/VICE PRESIDENT direct 2015-01-01

Private Funds

Name Country Fund Identification Number Fund Type Gross Asset Value Minimum Investment Other
PAR INVESTMENT PARTNERS, L.P. United States 805-2605410848 Hedge Fund 7,529,367,857 1,000,000

WhaleScore history for PAR CAPITAL MANAGEMENT INC

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**EXPERIMENTAL** Current International Short Positions

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Holder Issuer Net Short Position Position Date Origin

Short Position History (last 100)

Holder Net Short Position Position Date Origin
PAR Capital Management, Inc. K+S Aktiengesellschaft 0.52% 2016-06-23 GERMANY

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