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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
+1.73%
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
$4.18B
AUM Growth
+$481M
Cap. Flow
+$450M
Cap. Flow %
10.74%
Top 10 Hldgs %
70.24%
Holding
71
New
15
Increased
12
Reduced
12
Closed
24

Top Buys

Rank Stock Value
1
META icon
Meta Platforms (Facebook)
META
+$134M
2
UBER icon
Uber
UBER
+$128M
3
BKNG icon
Booking.com
BKNG
+$95.3M
4
SAVE
Spirit Airlines, Inc.
SAVE
+$93.4M
5
LUV icon
Southwest Airlines
LUV
+$63.9M

Top Sells

Rank Stock Value
1
V icon
Visa
V
+$97.5M
2
EXPE icon
Expedia Group
EXPE
+$57.6M
3
LYFT icon
Lyft
LYFT
+$43.5M
4
HLT icon
Hilton Worldwide
HLT
+$28.2M
5
ALGT icon
Allegiant Air
ALGT
+$18.5M

Sector Composition

Rank Sector Weight
1 Consumer Discretionary 38.24%
2 Industrials 21.63%
3 Technology 17.77%
4 Financials 12.46%
5 Communication Services 8.59%
Name Market Value Portfolio Weight Shares or Principal Change
in Stake 		Capital Flow
TRUE
26
DELISTED
TrueCar
TRUE
$32.2M 0.77%
8,157,142
-350,014
-4% -$1.24M
JBLU icon
27
JetBlue
JBLU
$1.61B
$30.6M 0.73%
2,050,000
+50,000
+3% +$724K
VLRS
28
Controladora Vuela Compania de Aviacion
VLRS
$728M
$27.3M 0.65%
1,500,000
-283,856
-16% -$5.03M
VCSA
29
DELISTED
Vacasa, Inc. Class A Common Stock
VCSA
$23.2M 0.55%
140,378
– –
WBS
30
DELISTED
Webster Financial
WBS
$16.8M 0.4%
+300,000
New +$17.8M
GDOT icon
31
Green Dot
GDOT
$752M
$13.7M 0.33%
500,000
-300,000
-38% -$9.12M
DFS
32
DELISTED
Discover Financial Services
DFS
$12.8M 0.3%
115,761
– –
AVDX
33
DELISTED
AvidXchange
AVDX
$11.7M 0.28%
+1,450,000
New +$14.6M
PYPL icon
34
PayPal
PYPL
$46B
$11.6M 0.28%
+100,000
New +$13.3M
GBTG icon
35
American Express Global Business Travel
GBTG
$4.95B
$11.1M 0.26%
+1,111,000
New +$11M
MA icon
36
Mastercard
MA
$502B
$10.7M 0.26%
+30,000
New +$10.8M
TFC icon
37
Truist Financial
TFC
$61.6B
$9.92M 0.24%
+175,000
New +$10.8M
AER icon
38
AerCap
AER
$21.7B
$9.67M 0.23%
+192,263
New +$11.5M
GRAB icon
39
Grab
GRAB
$11.9B
$8.75M 0.21%
2,500,000
– –
TREE icon
40
LendingTree
TREE
$376M
$7.58M 0.18%
63,300
+39,300
+164% +$4.65M
WH icon
41
Wyndham Hotels & Resorts
WH
$5.01B
$7.2M 0.17%
85,000
– –
GROV icon
42
Grove Collaborative
GROV
$42.7M
$3.94M 0.09%
80,000
– –
H icon
43
Hyatt Hotels
H
$15.1B
$2.29M 0.05%
+24,000
New +$2.25M
CPA icon
44
Copa Holdings
CPA
$5.13B
$795K 0.02%
+9,500
New +$781K
CHGG icon
45
Chegg
CHGG
$82.4M
$726K 0.02%
+20,000
New +$602K
XYZ
46
Block Inc
XYZ
$47B
$719K 0.02%
+5,300
New +$642K
VGII.WS
47
DELISTED
Virgin Group Acquisition Corp. II Redeemable Warrants, each whole warrant exercisable for one Class
VGII.WS
$13K ﹤0.01%
34,613
-45,387
-57% -$24K
COF icon
48
Capital One
COF
$127B
– –
-60,000
Closed -$8.71M
ETSY icon
49
Etsy
ETSY
$6.79B
– –
-1,500
Closed -$328K
HLT icon
50
Hilton Worldwide
HLT
$69.3B
– –
-180,600
Closed -$28.2M
1
2
3

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PAR Capital Management's Q1 2022 Portfolio in Review

As of Q1 2022, PAR Capital Management held 71 positions worth $4.18B, up 13% from $3.7B the previous quarter. Its ten largest holdings account for 70% of the portfolio.

PAR Capital Management deployed $450M of net new capital in Q1 2022, opening 15 new positions and adding to 12 existing holdings. Its largest new stake was Meta Platforms (Facebook): 535,000 shares worth $119M.

By sector, the portfolio is most concentrated in Consumer Discretionary at 38% of assets, down from 42% a quarter earlier, followed by Industrials and Technology.

On the sell side, the largest reduction was Expedia Group, an estimated $57.6M trimmed.

  • PAR Capital Management's largest Q1 2022 buy was Meta Platforms (Facebook): 535,000 shares worth $119M.
  • PAR Capital Management added most to Uber in Q1 2022, an estimated $128M increase.
  • PAR Capital Management's biggest Q1 2022 reduction was Expedia Group, cutting an estimated $57.6M.
  • PAR Capital Management fully exited Visa in Q1 2022, selling an estimated $97.5M.
  • PAR Capital Management's ten largest holdings make up 70% of its $4.18B portfolio in Q1 2022.
  • PAR Capital Management opened 15 new positions and closed 24 in Q1 2022.
  • PAR Capital Management's portfolio value rose 13% quarter-over-quarter to $4.18B.

Based on PAR Capital Management's 13F filing for Q1 2022, filed 16 May 2022.