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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
+21.93%
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
$3.04B
AUM Growth
+$371M
Cap. Flow
-$136M
Cap. Flow %
-4.48%
Top 10 Hldgs %
81.42%
Holding
51
New
4
Increased
12
Reduced
12
Closed
9

Top Buys

Rank Stock Value
1
CAR icon
Avis
CAR
+$21.4M
2
SNCY
Sun Country Airlines
SNCY
+$19.9M
3
VLRS
Controladora Vuela Compania de Aviacion
VLRS
+$15.7M
4
HA
Hawaiian Holdings, Inc.
HA
+$11.3M
5
UAL icon
United Airlines
UAL
+$5.9M

Top Sells

Rank Stock Value
1
EXPE icon
Expedia Group
EXPE
+$71.8M
2
CARG icon
CarGurus
CARG
+$33.2M
3
UBER icon
Uber
UBER
+$31.4M
4
TRVG
trivago
TRVG
+$23.2M
5
GDOT icon
Green Dot
GDOT
+$12.5M

Sector Composition

Rank Sector Weight
1 Consumer Discretionary 34.19%
2 Technology 25.89%
3 Industrials 22.74%
4 Financials 16.96%
5 Communication Services 0.21%
Name Market Value Portfolio Weight Shares or Principal Change
in Stake 		Capital Flow
VCSA
51
DELISTED
Vacasa, Inc. Class A Common Stock
VCSA
– –
-470,665
Closed -$4.34M
1 2
3

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PWP
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OTPPB
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JGC
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PAR Capital Management's Q4 2023 Portfolio in Review

As of Q4 2023, PAR Capital Management held 51 positions worth $3.04B, up 14% from $2.67B the previous quarter. Its ten largest holdings account for 81% of the portfolio.

PAR Capital Management withdrew a net $136M in Q4 2023, closing 9 positions and reducing 12 holdings. Its most notable exit was CarGurus, an estimated $33.2M position sold in full.

By sector, the portfolio is most concentrated in Consumer Discretionary at 34% of assets, down from 35% a quarter earlier, followed by Technology and Industrials.

Against the trend, PAR Capital Management opened a new position in Hawaiian Holdings, Inc. worth $21.6M.

  • PAR Capital Management's largest Q4 2023 buy was Hawaiian Holdings, Inc.: 1,520,000 shares worth $21.6M.
  • PAR Capital Management added most to Avis in Q4 2023, an estimated $21.4M increase.
  • PAR Capital Management's biggest Q4 2023 reduction was Expedia Group, cutting an estimated $71.8M.
  • PAR Capital Management fully exited CarGurus in Q4 2023, selling an estimated $33.2M.
  • PAR Capital Management's ten largest holdings make up 81% of its $3.04B portfolio in Q4 2023.
  • PAR Capital Management opened 4 new positions and closed 9 in Q4 2023.
  • PAR Capital Management's portfolio value rose 14% quarter-over-quarter to $3.04B.

Based on PAR Capital Management's 13F filing for Q4 2023, filed 14 Feb 2024.