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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
+16%
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
$3.07B
AUM Growth
+$80.4M
(+2.7%)
Cap. Flow
-$276M
Cap. Flow
% of AUM
-8.99%
Top 10 Holdings %
Top 10 Hldgs %
80.06%
Holding
62
New
13
Increased
26
Reduced
7
Closed
5
Top Buys
| Rank | Stock | Value |
|---|---|---|
| 1 |
Hyatt Hotels
H
|
+$39.2M |
| 2 |
Carvana
CVNA
|
+$24.7M |
| 3 |
Sabre
SABR
|
+$18.2M |
| 4 |
Marriott International
MAR
|
+$14.3M |
| 5 |
American Airlines Group
AAL
|
+$13.4M |
Top Sells
| Rank | Stock | Value |
|---|---|---|
| 1 |
Uber
UBER
|
+$330M |
| 2 |
CarGurus
CARG
|
+$74.6M |
| 3 |
Avis
CAR
|
+$46.5M |
| 4 |
LTM
LATAM Airlines Group S.A.
LTM
|
+$10.5M |
| 5 |
Ryanair
RYAAY
|
+$560K |
Sector Composition
| Rank | Sector | Weight |
|---|---|---|
| 1 | Industrials | 34.53% |
| 2 | Consumer Discretionary | 30.39% |
| 3 | Financials | 20.56% |
| 4 | Technology | 12.92% |
| 5 | Communication Services | 1.15% |
| Name | Market Value | Portfolio Weight | Shares or Principal |
Change in Stake | Capital Flow | |
|---|---|---|---|---|---|---|
51
Flex
FLEX
$41.7B
| $495K | 0.02% |
9,910
| – | – |
|
52
Meta Platforms (Facebook)
META
$1.42T
| $487K | 0.02% |
660
-710
| -52% | -$439K |
|
53
Wayfair
W
$11.2B
| $460K | 0.02% |
+9,000
| New | +$336K |
|
54
SEI Investments
SEIC
$12.4B
| $315K | 0.01% |
3,500
-4,000
| -53% | -$322K |
|
55
Airbnb
ABNB
$89.9B
| $238K | 0.01% |
+1,800
| New | +$228K |
|
56
Zillow
Z
$7.79B
| $224K | 0.01% |
+3,200
| New | +$216K |
|
|
EB
57
DELISTED
Eventbrite
EB
| $81.5K | ﹤0.01% |
31,000
-22,000
| -42% | -$50.7K |
|
58
Carnival Corporation Ltd
CCL
$38.1B
| – | – |
-27,200
| Closed | -$531K |
|
|
59
PUT
Carnival Corporation Ltd
CCL
$38.1B
| – | – |
-23,500
| Closed | -$459K |
|
60
Hilton Worldwide
HLT
$72.1B
| – | – |
-950
| Closed | -$216K |
|
|
61
Uber
UBER
$143B
| – | – |
-4,529,829
| Closed | -$330M |
|
|
62
PUT
Uber
UBER
$143B
| – | – |
-15,500
| Closed | -$1.13M |
|
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PAR Capital Management's Q2 2025 Portfolio in Review
As of Q2 2025, PAR Capital Management held 62 positions worth $3.07B, up 2.7% from $2.99B the previous quarter. Its ten largest holdings account for 80% of the portfolio.
PAR Capital Management withdrew a net $276M in Q2 2025, closing 5 positions and reducing 7 holdings. Its most notable exit was Uber, an estimated $330M position sold in full.
By sector, the portfolio is most concentrated in Industrials at 35% of assets, up from 31% a quarter earlier, followed by Consumer Discretionary and Financials.
Against the trend, PAR Capital Management opened a new position in American Airlines Group worth $14M.
- PAR Capital Management's largest Q2 2025 buy was American Airlines Group: 1,250,000 shares worth $14M.
- PAR Capital Management added most to Hyatt Hotels in Q2 2025, an estimated $39.2M increase.
- PAR Capital Management's biggest Q2 2025 reduction was CarGurus, cutting an estimated $74.6M.
- PAR Capital Management fully exited Uber in Q2 2025, selling an estimated $330M.
- PAR Capital Management's ten largest holdings make up 80% of its $3.07B portfolio in Q2 2025.
- PAR Capital Management opened 13 new positions and closed 5 in Q2 2025.
- PAR Capital Management's portfolio value rose 2.7% quarter-over-quarter to $3.07B.
Based on PAR Capital Management's 13F filing for Q2 2025, filed 14 Aug 2025.