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PAR Capital Management Portfolio holdings

AUM $3.45B
1-Year Est. Return 28.5%
This Fund
S&P 500
This Quarter Est. Return
-5.99%
1 Year Est. Return
+28.5%
3 Year Est. Return
+123.74%
5 Year Est. Return
+64.51%
10 Year Est. Return
+369.64%
AUM
$4.08B
AUM Growth
-$231M
Cap. Flow
+$208M
Cap. Flow %
5.1%
Top 10 Hldgs %
69.15%
Holding
71
New
24
Increased
13
Reduced
9
Closed
10

Top Buys

Rank Stock Value
1
EXPE icon
Expedia Group
EXPE
+$85.2M
2
CARG icon
CarGurus
CARG
+$48.9M
3
WEX icon
WEX
WEX
+$30.8M
4
TFC icon
Truist Financial
TFC
+$29.4M
5
GDOT icon
Green Dot
GDOT
+$15.1M

Top Sells

Rank Stock Value
1
UAL icon
United Airlines
UAL
+$36.9M
2
BALY icon
Bally's
BALY
+$25M
3
LUV icon
Southwest Airlines
LUV
+$22.9M
4
ALGT icon
Allegiant Air
ALGT
+$11.2M
5
WPCA.U
Warburg Pincus Capital Corporation I-A Units, each consisting of one Class A ordinary share, and one-fifth of one redeemable warrant
WPCA.U
+$7.49M

Sector Composition

Rank Sector Weight
1 Consumer Discretionary 40.8%
2 Industrials 24.04%
3 Financials 18.97%
4 Technology 10.15%
5 Communication Services 4.38%
Name Market Value Portfolio Weight Shares or Principal Change
in Stake 		Capital Flow
VLRS
26
Controladora Vuela Compania de Aviacion
VLRS
$869M
$34.3M 0.84%
1,783,856
+48,856
+3% +$831K
STT icon
27
State Street
STT
$48.4B
$33.8M 0.83%
411,340
+11,340
+3% +$957K
JBLU icon
28
JetBlue
JBLU
$2.16B
$33.6M 0.82%
2,000,000
-54,000
-3% -$1.05M
GDOT icon
29
Green Dot
GDOT
$750M
$30.5M 0.75%
650,000
+338,846
+109% +$15.1M
TFC icon
30
Truist Financial
TFC
$63.9B
$27.8M 0.68%
+500,000
New +$29.4M
RRR icon
31
Red Rock Resorts
RRR
$3.84B
$22.7M 0.56%
534,529
-100,000
-16% -$3.95M
MA icon
32
Mastercard
MA
$498B
$18.3M 0.45%
50,000
– –
DFS
33
DELISTED
Discover Financial Services
DFS
$13.7M 0.34%
115,761
– –
COF icon
34
Capital One
COF
$128B
$9.28M 0.23%
60,000
– –
WPCB
35
DELISTED
Warburg Pincus Capital Corporation I-B
WPCB
$7.31M 0.18%
+750,000
New +$7.39M
WH icon
36
Wyndham Hotels & Resorts
WH
$5.61B
$6.14M 0.15%
+85,000
New +$6.28M
WPCA
37
DELISTED
Warburg Pincus Capital Corporation I-A
WPCA
$4.9M 0.12%
+500,000
New +$4.97M
GROV icon
38
Grove Collaborative
GROV
$45.8M
$3.92M 0.1%
+80,000
New +$3.93M
WU icon
39
Western Union
WU
$2.53B
$2.3M 0.06%
100,000
– –
AUS
40
DELISTED
Austerlitz Acquisition Corporation I
AUS
$992K 0.02%
+100,000
New +$992K
DMYQ.U
41
DELISTED
dMY Technology Group, Inc. IV Units, each consisting of one share of Class A common stock and one-fi
DMYQ.U
$977K 0.02%
100,000
– –
ATAQ
42
DELISTED
Altimar Acquisition Corp III
ATAQ
$975K 0.02%
+100,000
New +$984K
ASZ
43
DELISTED
Austerlitz Acquisition Corporation II
ASZ
$973K 0.02%
+100,000
New +$982K
RXRA
44
DELISTED
RXR Acquisition Corp. Class A Common Stock
RXRA
$971K 0.02%
+100,000
New +$979K
FRSG
45
DELISTED
First Reserve Sustainable Growth Corp. Class A Common Stock
FRSG
$970K 0.02%
+100,000
New +$976K
FSNB
46
DELISTED
Fusion Acquisition Corp. II
FSNB
$967K 0.02%
+100,000
New +$970K
OHPA
47
DELISTED
Orion Acquisition Corp. Class A common stock
OHPA
$966K 0.02%
+100,000
New +$982K
UBER icon
48
Uber
UBER
$145B
$752K 0.02%
+15,000
New +$783K
ZIXI
49
DELISTED
Zix Corporation
ZIXI
$507K 0.01%
71,900
– –
PCYO icon
50
Pure Cycle
PCYO
$255M
$428K 0.01%
31,000
-319,000
-91% -$4.56M
1
2
3

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PAR Capital Management's Q2 2021 Portfolio in Review

As of Q2 2021, PAR Capital Management held 71 positions worth $4.08B, down 5.4% from $4.31B the previous quarter. Its ten largest holdings account for 69% of the portfolio.

PAR Capital Management deployed $208M of net new capital in Q2 2021, opening 24 new positions and adding to 13 existing holdings. Its largest new stake was Truist Financial: 500,000 shares worth $27.8M.

By sector, the portfolio is most concentrated in Consumer Discretionary at 41% of assets, down from 42% a quarter earlier, followed by Industrials and Financials.

On the sell side, the largest reduction was United Airlines, an estimated $36.9M trimmed.

  • PAR Capital Management's largest Q2 2021 buy was Truist Financial: 500,000 shares worth $27.8M.
  • PAR Capital Management added most to Expedia Group in Q2 2021, an estimated $85.2M increase.
  • PAR Capital Management's biggest Q2 2021 reduction was United Airlines, cutting an estimated $36.9M.
  • PAR Capital Management fully exited Warburg Pincus Capital Corporation I-A Units, each consisting of one Class A ordinary share, and one-fifth of one redeemable warrant in Q2 2021, selling an estimated $7.49M.
  • PAR Capital Management's ten largest holdings make up 69% of its $4.08B portfolio in Q2 2021.
  • PAR Capital Management opened 24 new positions and closed 10 in Q2 2021.
  • PAR Capital Management's portfolio value fell 5.4% quarter-over-quarter to $4.08B.

Based on PAR Capital Management's 13F filing for Q2 2021, filed 16 Aug 2021.