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PAR Capital Management

PAR Capital Management Portfolio holdings

AUM $4.03B Turnover 28.57%
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
Avg Time Held Equity + Options
3.5 years
Top 10 Avg Time Held Equity + Options
4.5 years
Top 20 Avg Time Held Equity + Options
4.7 years
Avg Time Held Equity only
3.7 years
Top 10 Avg Time Held Equity only
4.5 years
Top 20 Avg Time Held Equity only
4.7 years

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 icon
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 icon
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 2.29%
Name Market Value Portfolio Weight Shares or Principal Change
in Stake 		Capital Flow Held Since
MAR icon
26
Marriott International
MAR
$97B
$14.8M 0.37%
40,000
-50,000
-56% -$18.4M
2024 Q3
7 quarters
RJET icon
27
Republic Airways Holdings
RJET
$738M
$10.6M 0.26%
506,844
– –
2025 Q2
4 quarters
GOOG icon
28
Alphabet (Google) Class C
GOOG
$4.2T
$8.9M 0.22%
25,200
-10,400
-29% -$3.72M
2024 Q1
9 quarters
BILL icon
29
BILL Holdings
BILL
$3.77B
$7.23M 0.18%
200,000
-200,000
-50% -$7.37M
2025 Q3
3 quarters
SKYW icon
30
Skywest
SKYW
$3.59B
$5.45M 0.14%
54,881
-303,042
-85% -$27M
2022 Q3
15 quarters
CPA icon
31
Copa Holdings
CPA
$5.35B
$3.13M 0.08%
20,115
-137,082
-87% -$17.8M
2025 Q2
4 quarters
CARS icon
32
Cars.com
CARS
$531M
$2.69M 0.07%
246,299
– –
2025 Q2
4 quarters
HTZ icon
33
Hertz
HTZ
$659M
$2.06M 0.05%
911,001
-488,999
-35% -$2.67M
2023 Q1
13 quarters
FLEX icon
34
Flex
FLEX
$37.1B
$1.61M 0.04%
+9,910
New +$1.2M
2026 Q2
0 quarters
ZM icon
35
Zoom
ZM
$27.6B
$1.47M 0.04%
17,000
+11,000
+183% +$1.04M
2025 Q3
3 quarters
CFG icon
36
Citizens Financial Group
CFG
$26.4B
$1.4M 0.03%
20,000
+4,000
+25% +$258K
2026 Q1
1 quarter
C icon
37
Citigroup
C
$205B
$1.4M 0.03%
10,000
– –
2024 Q4
6 quarters
C icon
38
PUT
Citigroup
C
$205B
$1.4M 0.03%
10,000
– –
2025 Q4
2 quarters
DAL icon
39
PUT
Delta Air Lines
DAL
$50.4B
$983K 0.02%
10,500
-7,500
-42% -$566K
2025 Q4
2 quarters
CART icon
40
Maplebear
CART
$11.7B
$963K 0.02%
20,336
– –
2026 Q1
1 quarter
EBAY icon
41
eBay
EBAY
$52B
$894K 0.02%
+8,000
New +$854K
2026 Q2
0 quarters
GOOG icon
42
PUT
Alphabet (Google) Class C
GOOG
$4.2T
$883K 0.02%
2,500
-31,100
-93% -$11.1M
2025 Q3
3 quarters
TCOM icon
43
Trip.com Group
TCOM
$24.5B
$539K 0.01%
13,523
– –
2025 Q4
2 quarters
TFC icon
44
Truist Financial
TFC
$55.7B
$498K 0.01%
10,000
-5,000
-33% -$246K
2026 Q1
1 quarter
CARG icon
45
CarGurus
CARG
$2.67B
$354K 0.01%
10,376
– –
2024 Q1
9 quarters
AFRM icon
46
Affirm
AFRM
$23.8B
$326K 0.01%
+4,000
New +$261K
2026 Q2
0 quarters
PNC icon
47
PNC Financial Services
PNC
$86.1B
$246K 0.01%
+1,000
New +$224K
2026 Q2
0 quarters
NXT icon
48
Nextpower Inc. Common Stock
NXT
$12.5B
$206K 0.01%
1,726
– –
2026 Q1
1 quarter
CAR icon
49
Avis
CAR
$3.77B
– –
-200,000
Closed -$29.2M –
GBTG icon
50
DELISTED
American Express Global Business Travel
GBTG
– –
-1,686,634
Closed -$9.41M –
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.