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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
+23.75%
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
$3.39B
AUM Growth
-$137M
Cap. Flow
-$749M
Cap. Flow %
-22.11%
Top 10 Hldgs %
78.2%
Holding
67
New
11
Increased
17
Reduced
16
Closed
7

Top Buys

Rank Stock Value
1
SABR icon
Sabre
SABR
+$21.5M
2
TRIP icon
TripAdvisor
TRIP
+$19.7M
3
RYAAY icon
Ryanair
RYAAY
+$15.4M
4
ALGT icon
Allegiant Air
ALGT
+$2.16M
5
TRVG
trivago
TRVG
+$1.19M

Top Sells

Rank Stock Value
1
BKNG icon
Booking.com
BKNG
+$411M
2
EXPE icon
Expedia Group
EXPE
+$151M
3
SYF icon
Synchrony
SYF
+$61.2M
4
CVNA icon
Carvana
CVNA
+$45M
5
ABNB icon
Airbnb
ABNB
+$37.9M

Sector Composition

Rank Sector Weight
1 Industrials 33.36%
2 Consumer Discretionary 25.05%
3 Technology 19.93%
4 Financials 18.33%
5 Communication Services 3.25%
Name Market Value Portfolio Weight Shares or Principal Change
in Stake 		Capital Flow
JBLU icon
26
JetBlue
JBLU
$1.61B
$21M 0.62%
2,672,555
-296,950
-10% -$2.01M
RYAAY icon
27
Ryanair
RYAAY
$26.9B
$15M 0.44%
+345,000
New +$15.4M
LTM
28
LATAM Airlines Group S.A.
LTM
$14.5B
$12.9M 0.38%
467,500
– –
ULCC icon
29
Frontier Group Holdings
ULCC
$1.28B
$12.5M 0.37%
1,756,100
– –
VLRS
30
Controladora Vuela Compania de Aviacion
VLRS
$728M
$9.39M 0.28%
1,261,904
-1,013,426
-45% -$7.59M
H icon
31
Hyatt Hotels
H
$15.1B
$8.94M 0.26%
56,961
– –
TRVG
32
trivago
TRVG
$412M
$7.73M 0.23%
3,544,231
+616,101
+21% +$1.19M
GBTG icon
33
American Express Global Business Travel
GBTG
$4.95B
$6.93M 0.2%
746,730
– –
GOOG icon
34
Alphabet (Google) Class C
GOOG
$4.18T
$4.11M 0.12%
21,600
-18,300
-46% -$3.23M
HTZ icon
35
Hertz
HTZ
$688M
$3.66M 0.11%
1,000,571
– –
CART icon
36
Maplebear
CART
$10.8B
$3.5M 0.1%
84,500
+2,500
+3% +$108K
WH icon
37
Wyndham Hotels & Resorts
WH
$5.01B
$2.72M 0.08%
27,000
– –
LYFT icon
38
Lyft
LYFT
$5.94B
$1.61M 0.05%
125,000
+70,000
+127% +$1.04M
CARG icon
39
PUT
CarGurus
CARG
$3.12B
$1.13M 0.03%
+31,000
New +$1.06M
WIX icon
40
WIX.com
WIX
$3.46B
$1.03M 0.03%
4,800
+1,300
+37% +$248K
WIX icon
41
PUT
WIX.com
WIX
$3.46B
$1.03M 0.03%
+4,800
New +$917K
META icon
42
Meta Platforms (Facebook)
META
$1.71T
$761K 0.02%
1,300
+920
+242% +$540K
DASH icon
43
DoorDash
DASH
$85.9B
$755K 0.02%
4,500
+500
+13% +$82.1K
VCSA
44
DELISTED
Vacasa, Inc. Class A Common Stock
VCSA
$684K 0.02%
139,654
-178,751
-56% -$573K
PNC icon
45
PNC Financial Services
PNC
$96.1B
$675K 0.02%
3,500
+500
+17% +$98.3K
CFG icon
46
Citizens Financial Group
CFG
$29.6B
$656K 0.02%
15,000
+8,000
+114% +$354K
BILL icon
47
BILL Holdings
BILL
$4.26B
$635K 0.02%
+7,500
New +$559K
BILL icon
48
PUT
BILL Holdings
BILL
$4.26B
$635K 0.02%
+7,500
New +$559K
TFC icon
49
Truist Financial
TFC
$61.6B
$629K 0.02%
14,500
+4,500
+45% +$201K
SEIC icon
50
SEI Investments
SEIC
$12.7B
$619K 0.02%
7,500
– –
1
2
3

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PAR Capital Management's Q4 2024 Portfolio in Review

As of Q4 2024, PAR Capital Management held 67 positions worth $3.39B, down 3.9% from $3.53B the previous quarter. Its ten largest holdings account for 78% of the portfolio.

PAR Capital Management withdrew a net $749M in Q4 2024, closing 7 positions and reducing 16 holdings. Its most notable exit was Airbnb, an estimated $37.9M position sold in full.

By sector, the portfolio is most concentrated in Industrials at 33% of assets, up from 24% a quarter earlier, followed by Consumer Discretionary and Technology.

Against the trend, PAR Capital Management opened a new position in Ryanair worth $15M.

  • PAR Capital Management's largest Q4 2024 buy was Ryanair: 345,000 shares worth $15M.
  • PAR Capital Management added most to Sabre in Q4 2024, an estimated $21.5M increase.
  • PAR Capital Management's biggest Q4 2024 reduction was Booking.com, cutting an estimated $411M.
  • PAR Capital Management fully exited Airbnb in Q4 2024, selling an estimated $37.9M.
  • PAR Capital Management's ten largest holdings make up 78% of its $3.39B portfolio in Q4 2024.
  • PAR Capital Management opened 11 new positions and closed 7 in Q4 2024.
  • PAR Capital Management's portfolio value fell 3.9% quarter-over-quarter to $3.39B.

Based on PAR Capital Management's 13F filing for Q4 2024, filed 14 Feb 2025.