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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
+10.94%
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
$2.72B
AUM Growth
-$63.1M
(-2.3%)
Cap. Flow
-$184M
Cap. Flow
% of AUM
-6.76%
Top 10 Holdings %
Top 10 Hldgs %
77.15%
Holding
49
New
9
Increased
10
Reduced
14
Closed
6
Top Buys
| Rank | Stock | Value |
|---|---|---|
| 1 |
FRC
First Republic Bank
FRC
|
+$159M |
| 2 |
SCHW
Charles Schwab
SCHW
|
+$51.3M |
| 3 |
Sabre
SABR
|
+$26.8M |
| 4 |
Southwest Airlines
LUV
|
+$19.3M |
| 5 |
CMA
Comerica
CMA
|
+$12.8M |
Top Sells
| Rank | Stock | Value |
|---|---|---|
| 1 |
iShares MSCI USA Quality Factor ETF
QUAL
|
+$187M |
| 2 |
TripAdvisor
TRIP
|
+$59.9M |
| 3 |
CarGurus
CARG
|
+$50.2M |
| 4 |
Uber
UBER
|
+$40.1M |
| 5 |
Booking.com
BKNG
|
+$34.9M |
Sector Composition
| Rank | Sector | Weight |
|---|---|---|
| 1 | Consumer Discretionary | 33.29% |
| 2 | Technology | 24.13% |
| 3 | Industrials | 23.86% |
| 4 | Financials | 16.48% |
| 5 | Communication Services | 1.41% |
| Name | Market Value | Portfolio Weight | Shares or Principal |
Change in Stake | Capital Flow | |
|---|---|---|---|---|---|---|
26
JetBlue
JBLU
$2.35B
| $14.6M | 0.54% |
2,000,000
| – | – |
|
27
Hyatt Hotels
H
$16.3B
| $11.2M | 0.41% |
100,134
+2,000
| +2% | +$219K |
|
|
CMA
28
DELISTED
Comerica
CMA
| $8.68M | 0.32% |
+200,000
| New | +$12.8M |
|
29
Bank of America
BAC
$436B
| $7.15M | 0.26% |
250,000
+50,000
| +25% | +$1.65M |
|
30
SoFi Technologies
SOFI
$21.7B
| $4.55M | 0.17% |
750,000
| – | – |
|
31
Hertz
HTZ
$480M
| $2.77M | 0.1% |
+169,796
| New | +$2.96M |
|
|
VCSA
32
DELISTED
Vacasa, Inc. Class A Common Stock
VCSA
| $2.69M | 0.1% |
140,000
| – | – |
|
33
Alphabet (Google) Class A
GOOGL
$4.56T
| $2.29M | 0.08% |
+22,000
| New | +$2.11M |
|
34
Meta Platforms (Facebook)
META
$1.48T
| $1.76M | 0.06% |
+8,300
| New | +$1.41M |
|
|
VLRS
35
Controladora Vuela Compania de Aviacion
VLRS
$929M
| $1.04M | 0.04% |
84,000
-1,516,000
| -95% | -$16.8M |
|
|
36
PUT
Uber
UBER
$146B
| $807K | 0.03% |
+33,500
| New | +$1.06M |
|
37
Etsy
ETSY
$7.8B
| $751K | 0.03% |
6,750
| – | – |
|
38
Zillow
Z
$8.04B
| $667K | 0.02% |
+15,000
| New | +$637K |
|
39
Skywest
SKYW
$4.4B
| $599K | 0.02% |
27,000
+17,000
| +170% | +$332K |
|
40
PayPal
PYPL
$49.6B
| $456K | 0.02% |
6,000
-325,000
| -98% | -$25M |
|
41
JPMorgan Chase
JPM
$937B
| $391K | 0.01% |
3,000
+1,500
| +100% | +$206K |
|
42
Shopify
SHOP
$156B
| $312K | 0.01% |
+6,500
| New | +$286K |
|
|
EB
43
DELISTED
Eventbrite
EB
| $263K | 0.01% |
+30,650
| New | +$253K |
|
44
CALL
Allegiant Air
ALGT
$2.78B
| – | – |
-10,000
| Closed | -$680K |
|
45
Invesco QQQ Trust
QQQ
$462B
| – | – |
-16,600
| Closed | -$4.42M |
|
|
46
iShares MSCI USA Quality Factor ETF
QUAL
$46.8B
| – | – |
-1,637,000
| Closed | -$187M |
|
47
Wells Fargo
WFC
$263B
| – | – |
-21,000
| Closed | -$867K |
|
48
WIX.com
WIX
$2.44B
| – | – |
-5,000
| Closed | -$384K |
|
49
Corpay
CPAY
$25.3B
| – | – |
-100,000
| Closed | -$18.4M |
|
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CCM
PAR Capital Management's Q1 2023 Portfolio in Review
As of Q1 2023, PAR Capital Management held 49 positions worth $2.72B, down 2.3% from $2.78B the previous quarter. Its ten largest holdings account for 77% of the portfolio.
PAR Capital Management withdrew a net $184M in Q1 2023, closing 6 positions and reducing 14 holdings. Its most notable exit was iShares MSCI USA Quality Factor ETF, an estimated $187M position sold in full.
By sector, the portfolio is most concentrated in Consumer Discretionary at 33% of assets, up from 31% a quarter earlier, followed by Technology and Industrials.
Against the trend, PAR Capital Management opened a new position in First Republic Bank worth $21.7M.
- PAR Capital Management's largest Q1 2023 buy was First Republic Bank: 1,550,000 shares worth $21.7M.
- PAR Capital Management added most to Charles Schwab in Q1 2023, an estimated $51.3M increase.
- PAR Capital Management's biggest Q1 2023 reduction was TripAdvisor, cutting an estimated $59.9M.
- PAR Capital Management fully exited iShares MSCI USA Quality Factor ETF in Q1 2023, selling an estimated $187M.
- PAR Capital Management's ten largest holdings make up 77% of its $2.72B portfolio in Q1 2023.
- PAR Capital Management opened 9 new positions and closed 6 in Q1 2023.
- PAR Capital Management's portfolio value fell 2.3% quarter-over-quarter to $2.72B.
Based on PAR Capital Management's 13F filing for Q1 2023, filed 15 May 2023.