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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
-29.67%
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
$2.98B
AUM Growth
-$1.2B
Cap. Flow
+$133M
Cap. Flow %
4.46%
Top 10 Hldgs %
74.21%
Holding
55
New
8
Increased
20
Reduced
5
Closed
15

Top Buys

Rank Stock Value
1
UBER icon
Uber
UBER
+$148M
2
META icon
Meta Platforms (Facebook)
META
+$121M
3
CARG icon
CarGurus
CARG
+$35.8M
4
CPAY icon
Corpay
CPAY
+$23.8M
5
WEX icon
WEX
WEX
+$16.7M

Top Sells

Rank Stock Value
1
SABR icon
Sabre
SABR
+$139M
2
BALY icon
Bally's
BALY
+$55.3M
3
APLE icon
Apple Hospitality REIT
APLE
+$41.6M
4
GOOGL icon
Alphabet (Google) Class A
GOOGL
+$33.3M
5
TRIP icon
TripAdvisor
TRIP
+$14.6M

Sector Composition

Rank Sector Weight
1 Consumer Discretionary 33.27%
2 Industrials 23.4%
3 Technology 19.73%
4 Financials 15.14%
5 Communication Services 8.13%
Name Market Value Portfolio Weight Shares or Principal Change
in Stake 		Capital Flow
EXPE icon
1
Expedia Group
EXPE
$37.3B
$398M 13.36%
4,200,000
+100,000
+2% +$14.2M
BKNG icon
2
Booking.com
BKNG
$158B
$306M 10.27%
4,376,600
+92,500
+2% +$7.89M
WEX icon
3
WEX
WEX
$6.47B
$281M 9.43%
1,807,300
+102,210
+6% +$16.7M
UBER icon
4
Uber
UBER
$146B
$274M 9.18%
13,384,660
+5,563,321
+71% +$148M
SYF icon
5
Synchrony
SYF
$24.7B
$221M 7.41%
8,000,000
+300,000
+4% +$10.4M
TRIP icon
6
TripAdvisor
TRIP
$1.71B
$199M 6.67%
11,167,604
-616,834
-5% -$14.6M
META icon
7
Meta Platforms (Facebook)
META
$1.51T
$187M 6.29%
1,162,602
+627,602
+117% +$121M
LUV icon
8
Southwest Airlines
LUV
$22.1B
$125M 4.18%
3,454,404
– –
UAL icon
9
United Airlines
UAL
$39.6B
$120M 4.02%
3,385,827
+285,827
+9% +$12.5M
SAVE
10
DELISTED
Spirit Airlines, Inc.
SAVE
$102M 3.41%
4,262,977
+179,214
+4% +$3.97M
CARG icon
11
CarGurus
CARG
$3.39B
$88.1M 2.95%
4,099,767
+1,209,000
+42% +$35.8M
DAL icon
12
Delta Air Lines
DAL
$57.7B
$87.1M 2.92%
3,008,000
+8,000
+0.3% +$305K
SCHW
13
Charles Schwab
SCHW
$183B
$72.7M 2.44%
1,150,000
+150,000
+15% +$10.3M
ALK icon
14
Alaska Air
ALK
$5.22B
$68.8M 2.31%
1,717,880
+113,980
+7% +$5.56M
ALGT icon
15
Allegiant Air
ALGT
$2.66B
$44.7M 1.5%
395,500
-4,500
-1% -$648K
SNCY
16
DELISTED
Sun Country Airlines
SNCY
$40.2M 1.35%
2,192,712
– –
AAL icon
17
American Airlines Group
AAL
$9.96B
$38.4M 1.29%
3,030,000
– –
AXP icon
18
American Express
AXP
$226B
$34.7M 1.16%
250,000
– –
TRVG
19
trivago
TRVG
$388M
$32.9M 1.1%
4,417,165
– –
ULCC icon
20
Frontier Group Holdings
ULCC
$1.53B
$28.3M 0.95%
3,023,848
+115,900
+4% +$1.17M
STT icon
21
State Street
STT
$49B
$27.7M 0.93%
450,000
– –
WBS icon
22
Webster Financial
WBS
$12.4B
$25.3M 0.85%
600,000
+300,000
+100% +$14.4M
MA icon
23
Mastercard
MA
$499B
$22.1M 0.74%
70,000
+40,000
+133% +$13.8M
TRUE
24
DELISTED
TrueCar
TRUE
$21.9M 0.73%
8,457,142
+300,000
+4% +$995K
CPAY icon
25
Corpay
CPAY
$25.8B
$21M 0.7%
+100,000
New +$23.8M
1
2 3

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PAR Capital Management's Q2 2022 Portfolio in Review

As of Q2 2022, PAR Capital Management held 55 positions worth $2.98B, down 29% from $4.18B the previous quarter. Its ten largest holdings account for 74% of the portfolio.

PAR Capital Management deployed $133M of net new capital in Q2 2022, opening 8 new positions and adding to 20 existing holdings. Its largest new stake was Corpay: 100,000 shares worth $21M.

By sector, the portfolio is most concentrated in Consumer Discretionary at 33% of assets, down from 41% a quarter earlier, followed by Industrials and Technology.

On the sell side, the largest reduction was Apple Hospitality REIT, an estimated $41.6M trimmed.

  • PAR Capital Management's largest Q2 2022 buy was Corpay: 100,000 shares worth $21M.
  • PAR Capital Management added most to Uber in Q2 2022, an estimated $148M increase.
  • PAR Capital Management's biggest Q2 2022 reduction was Apple Hospitality REIT, cutting an estimated $41.6M.
  • PAR Capital Management fully exited Sabre in Q2 2022, selling an estimated $139M.
  • PAR Capital Management's ten largest holdings make up 74% of its $2.98B portfolio in Q2 2022.
  • PAR Capital Management opened 8 new positions and closed 15 in Q2 2022.
  • PAR Capital Management's portfolio value fell 29% quarter-over-quarter to $2.98B.

Based on PAR Capital Management's 13F filing for Q2 2022, filed 15 Aug 2022.