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PAR Capital Management Portfolio holdings

AUM $4.03B
1-Year Est. Return 35.05%
This Fund
S&P 500
This Quarter Est. Return
+21.91%
1 Year Est. Return
+35.05%
3 Year Est. Return
+138.5%
5 Year Est. Return
+113.35%
10 Year Est. Return
+497.77%
AUM
$4.03B
AUM Growth
+$582M
Cap. Flow
-$37.9M
Cap. Flow %
-0.94%
Top 10 Hldgs %
84.1%
Holding
56
New
8
Increased
7
Reduced
20
Closed
8

Top Buys

Rank Stock Value
1
UAL icon
United Airlines
UAL
+$37.6M
2
UBER icon
Uber
UBER
+$35.3M
3
META icon
Meta Platforms (Facebook)
META
+$33.6M
4
Z icon
Zillow
Z
+$31.6M
5
AERO
Grupo Aeromexico SAB de CV
AERO
+$19.1M

Top Sells

Rank Stock Value
1
CAR icon
Avis
CAR
+$29.2M
2
SKYW icon
Skywest
SKYW
+$27M
3
SNCY
Sun Country Airlines
SNCY
+$24.2M
4
LYFT icon
Lyft
LYFT
+$21.3M
5
MAR icon
Marriott International
MAR
+$18.4M

Sector Composition

Rank Sector Weight
1 Industrials 39.54%
2 Consumer Discretionary 25.35%
3 Financials 16.47%
4 Technology 16.27%
5 Communication Services 2.28%
Name Market Value Portfolio Weight Shares or Principal Change
in Stake 		Capital Flow
UAL icon
1
United Airlines
UAL
$35.9B
$729M 18.07%
5,359,741
+362,891
+7% +$37.6M
SYF icon
2
Synchrony
SYF
$25.4B
$579M 14.35%
7,612,137
– –
EXPE icon
3
Expedia Group
EXPE
$39.5B
$485M 12.03%
1,895,847
-56,273
-3% -$13.4M
DAL icon
4
Delta Air Lines
DAL
$52.7B
$326M 8.09%
3,482,745
-31,700
-0.9% -$2.39M
WEX icon
5
WEX
WEX
$6.72B
$318M 7.89%
2,254,984
– –
UBER icon
6
Uber
UBER
$161B
$304M 7.54%
4,217,700
+480,727
+13% +$35.3M
LUV icon
7
Southwest Airlines
LUV
$19.4B
$252M 6.25%
4,905,756
-313,436
-6% -$13.2M
BKNG icon
8
Booking.com
BKNG
$155B
$177M 4.38%
992,100
-72,225
-7% -$12.3M
CVNA icon
9
Carvana
CVNA
$53.3B
$114M 2.84%
1,739,360
– –
ABNB icon
10
Airbnb
ABNB
$112B
$107M 2.66%
750,000
+2,500
+0.3% +$341K
ALGT icon
11
Allegiant Air
ALGT
$2.16B
$99.3M 2.46%
844,632
-1,559
-0.2% -$135K
ALK icon
12
Alaska Air
ALK
$4.72B
$82.5M 2.04%
1,579,636
-1,864
-0.1% -$79.6K
H icon
13
Hyatt Hotels
H
$16.2B
$65.6M 1.63%
338,500
– –
TRIP icon
14
TripAdvisor
TRIP
$1.16B
$55.8M 1.38%
4,072,054
– –
V icon
15
Visa
V
$712B
$43.8M 1.09%
127,600
+47,600
+60% +$15.3M
META icon
16
Meta Platforms (Facebook)
META
$1.47T
$31M 0.77%
+54,983
New +$33.6M
Z icon
17
Zillow
Z
$8.02B
$25.9M 0.64%
+823,000
New +$31.6M
TRVG
18
trivago
TRVG
$423M
$23.5M 0.58%
4,292,733
+99,619
+2% +$352K
LYFT icon
19
Lyft
LYFT
$6.7B
$23.4M 0.58%
1,605,000
-1,525,000
-49% -$21.3M
JBLU icon
20
JetBlue
JBLU
$1.81B
$22.9M 0.57%
4,000,000
-457,425
-10% -$2.33M
SCHW
21
Charles Schwab
SCHW
$191B
$22.6M 0.56%
245,000
-8,300
-3% -$757K
RYAAY icon
22
Ryanair
RYAAY
$29.1B
$22M 0.55%
340,000
-5,000
-1% -$295K
AERO
23
Grupo Aeromexico SAB de CV
AERO
$2.14B
$21.4M 0.53%
+1,189,824
New +$19.1M
AAL icon
24
American Airlines Group
AAL
$9.03B
$18.1M 0.45%
1,000,000
-250,000
-20% -$3.35M
MA icon
25
Mastercard
MA
$521B
$15.4M 0.38%
+30,000
New +$15M
1
2 3

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PAR Capital Management's Q2 2026 Portfolio in Review

As of Q2 2026, PAR Capital Management held 56 positions worth $4.03B, up 17% from $3.45B the previous quarter. Its ten largest holdings account for 84% of the portfolio.

PAR Capital Management's Q2 2026 filing shows 8 new, 7 increased, 20 reduced and 8 closed positions. Its largest new stake was Meta Platforms (Facebook): 54,983 shares worth $31M. The largest sale was Avis, an estimated $29.2M.

By sector, the portfolio is most concentrated in Industrials at 40% of assets, up from 35% a quarter earlier, followed by Consumer Discretionary and Financials.

  • PAR Capital Management's largest Q2 2026 buy was Meta Platforms (Facebook): 54,983 shares worth $31M.
  • PAR Capital Management added most to United Airlines in Q2 2026, an estimated $37.6M increase.
  • PAR Capital Management's biggest Q2 2026 reduction was Skywest, cutting an estimated $27M.
  • PAR Capital Management fully exited Avis in Q2 2026, selling an estimated $29.2M.
  • PAR Capital Management's ten largest holdings make up 84% of its $4.03B portfolio in Q2 2026.
  • PAR Capital Management opened 8 new positions and closed 8 in Q2 2026.
  • PAR Capital Management's portfolio value rose 17% quarter-over-quarter to $4.03B.

Based on PAR Capital Management's 13F filing for Q2 2026, filed 14 Aug 2026.