Par Capital Management Inc is a hedge fund that manages 4 BN dollars in regulatory AUM and has 21 employees, of which 14 perform investment advisory functions.

The manager's has disclosed holdings from 03/31/01 to 06/30/16. The fund's latest filing disclosed 6BN in positions, representing 149% of the manager's regulatory AUM.


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Fundamental & Technical Factor Exposure

Market Cap Beta Volatility
Momentum (12M) Momentum (6M) Momentum (3M)
Price/Book Price/Earnings Price/Cash Flow
Dividend Yield Sales Growth Earnings Growth
EBIDTA Margin Debt/Assets Hedge Fund Crowding

PAR CAPITAL Since Last Filing Return Details

Ticker Size Sector Stock Move StockAlpha Attribution Days to Liquidate Trade Crowdedness
EXPE 11.55% Tech 20.4% 0.98% 2 10%
UAL 11.1% Industrials 34.11% 3.49% 2 16%
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PAR CAPITAL Founders and Key Employees

Name Title In Position Since
Frederick S. Downs Shareholder/Vice President June-1992
Arthur G. Epker Shareholder/Vice President June-1992
Paul A. Reeder Shareholder/President May-1992
Julie G. Sarly Chief Compliance Officer February-2011
Edward L. Shapiro Shareholder/Vice President February-1999
Steven M. Smith Shareholder / Chief Operating Officer And General Counsel November-2010
William D. Moeykens Vice President Of Finance January-2012
Michael J. Tucker Shareholder/Vice President January-2014
Herbert A. Frazier Shareholder/Vice President January-2015

PAR CAPITAL Brokers, Custodians, Auditors and Administrators

Type Company
Administrator Pro
Auditor Pro
Custodian Pro
Custodian Pro
Custodian Pro
Custodian Pro
Custodian Pro
Prime Broker Pro
Prime Broker Pro
Prime Broker Pro

PAR CAPITAL Investment Strategy

Methods of Analysis, Investment Strategies and Risk of Loss

Method of Analysis

As noted above, the Adviser’s only client is the Partnership. The Adviser makes investment decisions for the Partnership on the basis of fundamental security analysis. Such analysis is premised on research into the capital structure, financial statements and management of a company. Portfolio managers conduct such research by reference to, among other things, regulatory filings by issuers, data provided by regulatory agencies, discussions and meetings with executives and industry experts, periodicals and on-line news sources, third-party research and independent data providers. Through such research, portfolio managers form judgments about the financial strength, valuation and outlook of a company. Those judgments form the basis for investment decisions.

Investment Strategy

In managing the Partnership, the Adviser seeks to maximize after-tax capital appreci...
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PAR CAPITAL Portfolio Concentration


BOSTON, Massachusetts
UNITED STATES, 02110-2633

PAR CAPITAL Contact Information

Phone Number: 617-526-8990
Fax Number: 617-556-8875



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