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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
-3.67%
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
$4.17B
AUM Growth
+$85M
Cap. Flow
+$251M
Cap. Flow %
6.02%
Top 10 Hldgs %
69.54%
Holding
63
New
2
Increased
11
Reduced
10
Closed
2

Top Buys

Rank Stock Value
1
UBER icon
Uber
UBER
+$206M
2
BKNG icon
Booking.com
BKNG
+$66.7M
3
WEX icon
WEX
WEX
+$45.6M
4
GRPN icon
Groupon
GRPN
+$41.8M
5
EXPE icon
Expedia Group
EXPE
+$33.2M

Top Sells

Rank Stock Value
1
UAL icon
United Airlines
UAL
+$29.9M
2
ALGT icon
Allegiant Air
ALGT
+$27M
3
SABR icon
Sabre
SABR
+$19.8M
4
ALK icon
Alaska Air
ALK
+$16.9M
5
DAL icon
Delta Air Lines
DAL
+$15.7M

Sector Composition

Rank Sector Weight
1 Consumer Discretionary 41.82%
2 Industrials 20.35%
3 Financials 19.1%
4 Technology 14.85%
5 Communication Services 3.75%
Name Market Value Portfolio Weight Shares or Principal Change
in Stake 		Capital Flow
STT icon
26
State Street
STT
$50.6B
$38.1M 0.91%
450,000
+38,660
+9% +$3.36M
GDOT icon
27
Green Dot
GDOT
$743M
$37M 0.89%
735,226
+85,226
+13% +$4.1M
SAVE
28
DELISTED
Spirit Airlines, Inc.
SAVE
$33.7M 0.81%
1,300,000
-100,000
-7% -$2.62M
ABNB icon
29
Airbnb
ABNB
$89.9B
$33.5M 0.8%
200,000
-50,000
-20% -$7.64M
JBLU icon
30
JetBlue
JBLU
$2.28B
$30.6M 0.73%
2,000,000
– –
RRR icon
31
Red Rock Resorts
RRR
$3.77B
$27.4M 0.66%
534,529
– –
MA icon
32
Mastercard
MA
$502B
$17.4M 0.42%
50,000
– –
DFS
33
DELISTED
Discover Financial Services
DFS
$14.2M 0.34%
115,761
– –
COF icon
34
Capital One
COF
$128B
$9.72M 0.23%
60,000
– –
WPCB
35
DELISTED
Warburg Pincus Capital Corporation I-B
WPCB
$7.33M 0.18%
750,000
– –
WH icon
36
Wyndham Hotels & Resorts
WH
$5.56B
$6.56M 0.16%
85,000
– –
WPCA
37
DELISTED
Warburg Pincus Capital Corporation I-A
WPCA
$4.91M 0.12%
500,000
– –
GROV icon
38
Grove Collaborative
GROV
$46.2M
$3.88M 0.09%
80,000
– –
WU icon
39
Western Union
WU
$1.98B
$2.02M 0.05%
100,000
– –
CND
40
DELISTED
Concord Acquisition Corp.
CND
$1.01M 0.02%
+100,000
New +$1.03M
AUS
41
DELISTED
Austerlitz Acquisition Corporation I
AUS
$994K 0.02%
100,000
– –
DMYQ.U
42
DELISTED
dMY Technology Group, Inc. IV Units, each consisting of one share of Class A common stock and one-fi
DMYQ.U
$991K 0.02%
100,000
– –
FRSG
43
DELISTED
First Reserve Sustainable Growth Corp. Class A Common Stock
FRSG
$984K 0.02%
100,000
– –
ASZ
44
DELISTED
Austerlitz Acquisition Corporation II
ASZ
$975K 0.02%
100,000
– –
ATAQ
45
DELISTED
Altimar Acquisition Corp III
ATAQ
$974K 0.02%
100,000
– –
RXRA
46
DELISTED
RXR Acquisition Corp. Class A Common Stock
RXRA
$972K 0.02%
100,000
– –
FSNB
47
DELISTED
Fusion Acquisition Corp. II
FSNB
$971K 0.02%
100,000
– –
OHPA
48
DELISTED
Orion Acquisition Corp. Class A common stock
OHPA
$970K 0.02%
100,000
– –
ZIXI
49
DELISTED
Zix Corporation
ZIXI
$508K 0.01%
71,900
– –
ETSY icon
50
Etsy
ETSY
$7.75B
$312K 0.01%
+1,500
New +$304K
1
2
3

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DAM
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PWP
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OTPPB
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JGC
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CIA
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CCM
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PAR Capital Management's Q3 2021 Portfolio in Review

As of Q3 2021, PAR Capital Management held 63 positions worth $4.17B, up 2.1% from $4.08B the previous quarter. Its ten largest holdings account for 70% of the portfolio.

PAR Capital Management deployed $251M of net new capital in Q3 2021, opening 2 new positions and adding to 11 existing holdings. Its largest new stake was Concord Acquisition Corp.: 100,000 shares worth $1.01M.

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

On the sell side, the largest reduction was United Airlines, an estimated $29.9M trimmed.

  • PAR Capital Management's largest Q3 2021 buy was Concord Acquisition Corp.: 100,000 shares worth $1.01M.
  • PAR Capital Management added most to Uber in Q3 2021, an estimated $206M increase.
  • PAR Capital Management's biggest Q3 2021 reduction was United Airlines, cutting an estimated $29.9M.
  • PAR Capital Management fully exited Pure Cycle in Q3 2021, selling an estimated $428K.
  • PAR Capital Management's ten largest holdings make up 70% of its $4.17B portfolio in Q3 2021.
  • PAR Capital Management opened 2 new positions and closed 2 in Q3 2021.
  • PAR Capital Management's portfolio value rose 2.1% quarter-over-quarter to $4.17B.

Based on PAR Capital Management's 13F filing for Q3 2021, filed 15 Nov 2021.