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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
+32.27%
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
$4.31B
AUM Growth
+$886M
Cap. Flow
-$128M
Cap. Flow %
-2.97%
Top 10 Hldgs %
71.46%
Holding
50
New
20
Increased
6
Reduced
12
Closed
3

Top Buys

Rank Stock Value
1
SNCY
Sun Country Airlines
SNCY
+$75.2M
2
GRPN icon
Groupon
GRPN
+$54.3M
3
ABNB icon
Airbnb
ABNB
+$46.3M
4
STT icon
State Street
STT
+$31M
5
AXP icon
American Express
AXP
+$27.1M

Top Sells

Rank Stock Value
1
DVA icon
DaVita
DVA
+$143M
2
UAL icon
United Airlines
UAL
+$100M
3
ALK icon
Alaska Air
ALK
+$48.3M
4
AAL icon
American Airlines Group
AAL
+$43.5M
5
BKNG icon
Booking.com
BKNG
+$26.7M

Sector Composition

Rank Sector Weight
1 Consumer Discretionary 41.6%
2 Industrials 26.91%
3 Financials 14.62%
4 Technology 10.07%
5 Communication Services 4.23%
Name Market Value Portfolio Weight Shares or Principal Change
in Stake 		Capital Flow
TRIP icon
1
TripAdvisor
TRIP
$1.71B
$622M 14.43%
11,572,046
-130,862
-1% -$5.61M
EXPE icon
2
Expedia Group
EXPE
$36.7B
$576M 13.34%
3,344,417
+17,800
+0.5% +$2.74M
BKNG icon
3
Booking.com
BKNG
$156B
$349M 8.1%
3,750,000
-300,000
-7% -$26.7M
SYF icon
4
Synchrony
SYF
$24.7B
$301M 6.97%
7,400,000
+450,000
+6% +$17.3M
UAL icon
5
United Airlines
UAL
$39.2B
$288M 6.67%
5,000,000
-2,055,291
-29% -$100M
SABR icon
6
Sabre
SABR
$719M
$225M 5.21%
15,175,912
-357,032
-2% -$4.84M
WEX icon
7
WEX
WEX
$6.45B
$209M 4.85%
1,000,000
– –
ALGT icon
8
Allegiant Air
ALGT
$2.62B
$183M 4.24%
750,000
-56,500
-7% -$12.5M
BALY icon
9
Bally's
BALY
$721M
$177M 4.1%
2,722,184
-30,000
-1% -$1.78M
LUV icon
10
Southwest Airlines
LUV
$22B
$153M 3.54%
2,500,000
– –
DAL icon
11
Delta Air Lines
DAL
$57.2B
$145M 3.36%
3,000,000
-500,000
-14% -$22.1M
ALK icon
12
Alaska Air
ALK
$5.15B
$139M 3.22%
2,007,600
-803,933
-29% -$48.3M
V icon
13
Visa
V
$709B
$95.3M 2.21%
450,000
– –
TRIP icon
14
PUT
TripAdvisor
TRIP
$1.71B
$82.6M 1.91%
+15,350
New +$659K
TRVG
15
trivago
TRVG
$387M
$74.1M 1.72%
3,444,808
-801,151
-19% -$13.5M
SNCY
16
DELISTED
Sun Country Airlines
SNCY
$72.2M 1.67%
+2,216,312
New +$75.2M
SCHW
17
Charles Schwab
SCHW
$185B
$65.2M 1.51%
1,000,000
– –
GRPN icon
18
Groupon
GRPN
$1.07B
$63.4M 1.47%
+1,254,500
New +$54.3M
AAL icon
19
American Airlines Group
AAL
$9.92B
$59.8M 1.39%
2,500,000
-2,256,100
-47% -$43.5M
SAVE
20
DELISTED
Spirit Airlines, Inc.
SAVE
$55.4M 1.28%
1,500,000
-109,800
-7% -$3.52M
ABNB icon
21
Airbnb
ABNB
$91.4B
$47M 1.09%
+250,000
New +$46.3M
PFSI icon
22
PennyMac Financial
PFSI
$4.46B
$46.2M 1.07%
691,600
– –
TRUE
23
DELISTED
TrueCar
TRUE
$45.1M 1.04%
9,418,804
– –
JBLU icon
24
JetBlue
JBLU
$2.15B
$41.8M 0.97%
2,054,000
+54,000
+3% +$936K
AXP icon
25
American Express
AXP
$226B
$35.4M 0.82%
250,000
+205,000
+456% +$27.1M
1
2

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PAR Capital Management's Q1 2021 Portfolio in Review

As of Q1 2021, PAR Capital Management held 50 positions worth $4.31B, up 26% from $3.43B the previous quarter. Its ten largest holdings account for 71% of the portfolio.

PAR Capital Management's Q1 2021 filing shows 20 new, 6 increased, 12 reduced and 3 closed positions. Its largest new stake was Sun Country Airlines: 2,216,312 shares worth $72.2M. The largest sale was DaVita, an estimated $143M.

By sector, the portfolio is most concentrated in Consumer Discretionary at 42% of assets, up from 38% a quarter earlier, followed by Industrials and Financials.

  • PAR Capital Management's largest Q1 2021 buy was Sun Country Airlines: 2,216,312 shares worth $72.2M.
  • PAR Capital Management added most to American Express in Q1 2021, an estimated $27.1M increase.
  • PAR Capital Management's biggest Q1 2021 reduction was United Airlines, cutting an estimated $100M.
  • PAR Capital Management fully exited DaVita in Q1 2021, selling an estimated $143M.
  • PAR Capital Management's ten largest holdings make up 71% of its $4.31B portfolio in Q1 2021.
  • PAR Capital Management opened 20 new positions and closed 3 in Q1 2021.
  • PAR Capital Management's portfolio value rose 26% quarter-over-quarter to $4.31B.

Based on PAR Capital Management's 13F filing for Q1 2021, filed 17 May 2021.