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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
+8.69%
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
$2.78B
AUM Growth
+$84.2M
Cap. Flow
-$69.3M
Cap. Flow %
-2.49%
Top 10 Hldgs %
75.58%
Holding
46
New
4
Increased
10
Reduced
13
Closed
6

Top Buys

Rank Stock Value
1
CAR icon
Avis
CAR
+$85.1M
2
DAL icon
Delta Air Lines
DAL
+$70.8M
3
ULCC icon
Frontier Group Holdings
ULCC
+$13.4M
4
CARG icon
CarGurus
CARG
+$6.16M
5
AVDX
AvidXchange
AVDX
+$4.34M

Top Sells

Rank Stock Value
1
META icon
Meta Platforms (Facebook)
META
+$68.8M
2
UAL icon
United Airlines
UAL
+$62.2M
3
EXPE icon
Expedia Group
EXPE
+$43M
4
MA icon
Mastercard
MA
+$19.9M
5
QUAL icon
iShares MSCI USA Quality Factor ETF
QUAL
+$10.8M

Sector Composition

Rank Sector Weight
1 Consumer Discretionary 31.3%
2 Industrials 21.96%
3 Technology 21.38%
4 Financials 17.39%
5 Communication Services 1.07%
Name Market Value Portfolio Weight Shares or Principal Change
in Stake 		Capital Flow
VLRS
26
Controladora Vuela Compania de Aviacion
VLRS
$900M
$13.4M 0.48%
1,600,000
– –
JBLU icon
27
JetBlue
JBLU
$2.28B
$13M 0.47%
2,000,000
– –
GDOT icon
28
Green Dot
GDOT
$743M
$11.1M 0.4%
700,000
-150,000
-18% -$2.77M
H icon
29
Hyatt Hotels
H
$16.4B
$8.88M 0.32%
98,134
+1,500
+2% +$138K
BAC icon
30
Bank of America
BAC
$435B
$6.62M 0.24%
200,000
– –
QQQ icon
31
Invesco QQQ Trust
QQQ
$453B
$4.42M 0.16%
16,600
– –
SABR icon
32
Sabre
SABR
$731M
$4.11M 0.15%
665,000
-342,000
-34% -$1.91M
VCSA
33
DELISTED
Vacasa, Inc. Class A Common Stock
VCSA
$3.53M 0.13%
140,000
– –
SOFI icon
34
SoFi Technologies
SOFI
$21B
$3.46M 0.12%
750,000
-57,000
-7% -$283K
WFC icon
35
Wells Fargo
WFC
$261B
$867K 0.03%
21,000
+9,400
+81% +$416K
ETSY icon
36
Etsy
ETSY
$7.75B
$809K 0.03%
6,750
-7,400
-52% -$847K
ALGT icon
37
CALL
Allegiant Air
ALGT
$2.64B
$680K 0.02%
+10,000
New +$730K
WIX icon
38
WIX.com
WIX
$2.3B
$384K 0.01%
+5,000
New +$404K
JPM icon
39
JPMorgan Chase
JPM
$935B
$201K 0.01%
+1,500
New +$190K
SKYW icon
40
Skywest
SKYW
$4.24B
$165K 0.01%
10,000
– –
APLE icon
41
Apple Hospitality REIT
APLE
$3.9B
– –
-218,087
Closed -$3.07M
ARKF icon
42
ARK Blockchain & Fintech Innovation ETF
ARKF
$722M
– –
-350,000
Closed -$5.39M
MA icon
43
Mastercard
MA
$502B
– –
-70,000
Closed -$19.9M
META icon
44
Meta Platforms (Facebook)
META
$1.42T
– –
-507,000
Closed -$68.8M
SPOT icon
45
Spotify
SPOT
$103B
– –
-6,500
Closed -$561K
TRUE
46
DELISTED
TrueCar
TRUE
– –
-5,370,000
Closed -$8.11M
1
2

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RBA
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DAM
Davis Asset Management Sausalito, California $3.46B AUM 9.77% 1-Year Est. Return
PWP
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OTPPB
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JGC
J. Goldman & Co New York $3.44B AUM 33.8% 1-Year Est. Return
CIA
Caledonia Investments (Australia) Sydney NSW, Australia $3.44B AUM 20.03% 1-Year Est. Return
CCM
Check Capital Management Costa Mesa, California $3.44B AUM 9.15% 1-Year Est. Return

PAR Capital Management's Q4 2022 Portfolio in Review

As of Q4 2022, PAR Capital Management held 46 positions worth $2.78B, up 3.1% from $2.7B the previous quarter. Its ten largest holdings account for 76% of the portfolio.

PAR Capital Management's Q4 2022 filing shows 4 new, 10 increased, 13 reduced and 6 closed positions. Its largest new stake was Avis: 424,400 shares worth $69.6M. The largest sale was Meta Platforms (Facebook), an estimated $68.8M.

By sector, the portfolio is most concentrated in Consumer Discretionary at 31% of assets, down from 34% a quarter earlier, followed by Industrials and Technology.

  • PAR Capital Management's largest Q4 2022 buy was Avis: 424,400 shares worth $69.6M.
  • PAR Capital Management added most to Delta Air Lines in Q4 2022, an estimated $70.8M increase.
  • PAR Capital Management's biggest Q4 2022 reduction was United Airlines, cutting an estimated $62.2M.
  • PAR Capital Management fully exited Meta Platforms (Facebook) in Q4 2022, selling an estimated $68.8M.
  • PAR Capital Management's ten largest holdings make up 76% of its $2.78B portfolio in Q4 2022.
  • PAR Capital Management opened 4 new positions and closed 6 in Q4 2022.
  • PAR Capital Management's portfolio value rose 3.1% quarter-over-quarter to $2.78B.

Based on PAR Capital Management's 13F filing for Q4 2022, filed 14 Feb 2023.