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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
+14.37%
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
$2.87B
AUM Growth
+$155M
Cap. Flow
-$165M
Cap. Flow %
-5.75%
Top 10 Hldgs %
77.54%
Holding
51
New
8
Increased
11
Reduced
14
Closed
6

Top Buys

Rank Stock Value
1
XYZ
Block Inc
XYZ
+$15.6M
2
ETSY icon
Etsy
ETSY
+$12.4M
3
CMA
Comerica
CMA
+$12.1M
4
CAR icon
Avis
CAR
+$6.58M
5
SKYW icon
Skywest
SKYW
+$6.28M

Top Sells

Rank Stock Value
1
UBER icon
Uber
UBER
+$58M
2
SCHW
Charles Schwab
SCHW
+$38.5M
3
CARG icon
CarGurus
CARG
+$35.9M
4
FRC
First Republic Bank
FRC
+$21.7M
5
LUV icon
Southwest Airlines
LUV
+$17.8M

Sector Composition

Rank Sector Weight
1 Consumer Discretionary 31.44%
2 Industrials 26.63%
3 Technology 24.33%
4 Financials 16.3%
5 Communication Services 1.31%
Name Market Value Portfolio Weight Shares or Principal Change
in Stake 		Capital Flow
SABR icon
26
Sabre
SABR
$716M
$16.4M 0.57%
5,154,000
-200,500
-4% -$724K
WBS icon
27
Webster Financial
WBS
$12.3B
$14.2M 0.49%
375,000
– –
H icon
28
Hyatt Hotels
H
$17.5B
$13.2M 0.46%
115,134
+15,000
+15% +$1.7M
ETSY icon
29
Etsy
ETSY
$8.12B
$11.7M 0.41%
138,250
+131,500
+1,948% +$12.4M
SKYW icon
30
Skywest
SKYW
$4.35B
$9.71M 0.34%
238,441
+211,441
+783% +$6.28M
CVNA icon
31
Carvana
CVNA
$47.5B
$7.31M 0.25%
+1,410,000
New +$3.91M
SOFI icon
32
SoFi Technologies
SOFI
$19.6B
$6.25M 0.22%
750,000
– –
HTZ icon
33
Hertz
HTZ
$527M
$3.68M 0.13%
200,000
+30,204
+18% +$495K
GOOGL icon
34
Alphabet (Google) Class A
GOOGL
$4.12T
$3.51M 0.12%
29,000
+7,000
+32% +$806K
META icon
35
Meta Platforms (Facebook)
META
$1.49T
$2.53M 0.09%
8,800
+500
+6% +$123K
VCSA
36
DELISTED
Vacasa, Inc. Class A Common Stock
VCSA
$1.9M 0.07%
140,000
– –
WH icon
37
Wyndham Hotels & Resorts
WH
$5.61B
$1.85M 0.06%
+27,000
New +$1.84M
SAVE
38
DELISTED
Spirit Airlines, Inc.
SAVE
$1.79M 0.06%
+104,500
New +$1.71M
EB
39
DELISTED
Eventbrite
EB
$1.4M 0.05%
147,000
+116,350
+380% +$915K
VLRS
40
Controladora Vuela Compania de Aviacion
VLRS
$869M
$1.14M 0.04%
82,000
-2,000
-2% -$25.7K
DASH icon
41
DoorDash
DASH
$84.3B
$917K 0.03%
+12,000
New +$796K
Z icon
42
Zillow
Z
$7.78B
$905K 0.03%
18,000
+3,000
+20% +$138K
TCOM icon
43
Trip.com Group
TCOM
$29B
$700K 0.02%
+20,000
New +$695K
MAR icon
44
Marriott International
MAR
$100B
$514K 0.02%
+2,800
New +$486K
KMX icon
45
CarMax
KMX
$8.39B
$419K 0.01%
+5,000
New +$366K
BAC icon
46
Bank of America
BAC
$429B
– –
-250,000
Closed -$7.15M
JPM icon
47
JPMorgan Chase
JPM
$916B
– –
-3,000
Closed -$391K
PYPL icon
48
PayPal
PYPL
$49.9B
– –
-6,000
Closed -$456K
SHOP icon
49
Shopify
SHOP
$168B
– –
-6,500
Closed -$312K
UBER icon
50
PUT
Uber
UBER
$145B
– –
-33,500
Closed -$807K
1
2
3

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CIA
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PAR Capital Management's Q2 2023 Portfolio in Review

As of Q2 2023, PAR Capital Management held 51 positions worth $2.87B, up 5.7% from $2.72B the previous quarter. Its ten largest holdings account for 78% of the portfolio.

PAR Capital Management withdrew a net $165M in Q2 2023, closing 6 positions and reducing 14 holdings. Its most notable exit was First Republic Bank, an estimated $21.7M position sold in full.

By sector, the portfolio is most concentrated in Consumer Discretionary at 31% of assets, down from 33% a quarter earlier, followed by Industrials and Technology.

Against the trend, PAR Capital Management opened a new position in Block Inc worth $16.6M.

  • PAR Capital Management's largest Q2 2023 buy was Block Inc: 250,000 shares worth $16.6M.
  • PAR Capital Management added most to Etsy in Q2 2023, an estimated $12.4M increase.
  • PAR Capital Management's biggest Q2 2023 reduction was Uber, cutting an estimated $58M.
  • PAR Capital Management fully exited First Republic Bank in Q2 2023, selling an estimated $21.7M.
  • PAR Capital Management's ten largest holdings make up 78% of its $2.87B portfolio in Q2 2023.
  • PAR Capital Management opened 8 new positions and closed 6 in Q2 2023.
  • PAR Capital Management's portfolio value rose 5.7% quarter-over-quarter to $2.87B.

Based on PAR Capital Management's 13F filing for Q2 2023, filed 14 Aug 2023.