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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
-4.64%
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
$2.67B
AUM Growth
-$198M
Cap. Flow
+$13.2M
Cap. Flow %
0.49%
Top 10 Hldgs %
80.07%
Holding
49
New
4
Increased
9
Reduced
12
Closed
2

Top Buys

Rank Stock Value
1
CAR icon
Avis
CAR
+$48.4M
2
XYZ
Block Inc
XYZ
+$15.5M
3
HTZ icon
Hertz
HTZ
+$15.3M
4
EXPE icon
Expedia Group
EXPE
+$5.52M
5
CVNA icon
Carvana
CVNA
+$5.16M

Top Sells

Rank Stock Value
1
UBER icon
Uber
UBER
+$45.7M
2
LUV icon
Southwest Airlines
LUV
+$16.3M
3
ULCC icon
Frontier Group Holdings
ULCC
+$9.9M
4
ALK icon
Alaska Air
ALK
+$5.43M
5
AAL icon
American Airlines Group
AAL
+$4.66M

Sector Composition

Rank Sector Weight
1 Consumer Discretionary 34.97%
2 Technology 25.94%
3 Industrials 21.97%
4 Financials 15.93%
5 Communication Services 1.18%
Name Market Value Portfolio Weight Shares or Principal Change
in Stake 		Capital Flow
BKNG icon
1
Booking.com
BKNG
$156B
$370M 13.84%
3,000,000
– –
EXPE icon
2
Expedia Group
EXPE
$36.5B
$356M 13.3%
3,450,000
+50,000
+1% +$5.52M
WEX icon
3
WEX
WEX
$6.41B
$349M 13.05%
1,854,900
+900
+0% +$174K
UBER icon
4
Uber
UBER
$145B
$276M 10.32%
6,000,000
-1,000,000
-14% -$45.7M
SYF icon
5
Synchrony
SYF
$24.4B
$257M 9.6%
8,400,000
– –
DAL icon
6
Delta Air Lines
DAL
$56.7B
$167M 6.23%
4,500,000
-20,800
-0.5% -$903K
CAR icon
7
Avis
CAR
$5.46B
$131M 4.92%
731,359
+223,245
+44% +$48.4M
UAL icon
8
United Airlines
UAL
$38.8B
$87.7M 3.28%
2,073,400
– –
TRIP icon
9
TripAdvisor
TRIP
$1.7B
$86.2M 3.22%
5,200,000
-200,000
-4% -$3.26M
SCHW
10
Charles Schwab
SCHW
$182B
$61.8M 2.31%
1,125,000
– –
AXP icon
11
American Express
AXP
$224B
$52.2M 1.95%
350,000
– –
ABNB icon
12
Airbnb
ABNB
$90.8B
$41.2M 1.54%
300,000
– –
LUV icon
13
Southwest Airlines
LUV
$21.7B
$40.6M 1.52%
1,500,000
-500,000
-25% -$16.3M
ALK icon
14
Alaska Air
ALK
$5.12B
$40M 1.5%
1,080,000
-120,000
-10% -$5.43M
CARG icon
15
CarGurus
CARG
$3.34B
$33.2M 1.24%
1,892,800
– –
AAL icon
16
American Airlines Group
AAL
$9.82B
$32M 1.2%
2,500,000
-300,000
-11% -$4.66M
AVDX
17
DELISTED
AvidXchange
AVDX
$23.7M 0.89%
2,500,000
– –
TRVG
18
trivago
TRVG
$381M
$23.2M 0.87%
4,417,165
– –
SABR icon
19
Sabre
SABR
$716M
$22.4M 0.84%
5,000,000
-154,000
-3% -$699K
XYZ
20
Block Inc
XYZ
$48.9B
$22.1M 0.83%
500,000
+250,000
+100% +$15.5M
SNCY
21
DELISTED
Sun Country Airlines
SNCY
$21M 0.79%
1,414,200
-85,800
-6% -$1.51M
CMA
22
DELISTED
Comerica
CMA
$20.8M 0.78%
500,000
– –
ALGT icon
23
Allegiant Air
ALGT
$2.57B
$19.2M 0.72%
250,000
– –
CVNA icon
24
Carvana
CVNA
$47.5B
$16.9M 0.63%
2,010,000
+600,000
+43% +$5.16M
WBS icon
25
Webster Financial
WBS
$12.3B
$15.1M 0.57%
375,000
– –
1
2

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RBA
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DAM
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PWP
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OTPPB
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JGC
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CIA
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CCM
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PAR Capital Management's Q3 2023 Portfolio in Review

As of Q3 2023, PAR Capital Management held 49 positions worth $2.67B, down 6.9% from $2.87B the previous quarter. Its ten largest holdings account for 80% of the portfolio.

PAR Capital Management's Q3 2023 filing shows 4 new, 9 increased, 12 reduced and 2 closed positions. Its largest new stake was American Express Global Business Travel: 541,851 shares worth $2.98M. The largest sale was Uber, an estimated $45.7M.

By sector, the portfolio is most concentrated in Consumer Discretionary at 35% of assets, up from 31% a quarter earlier, followed by Technology and Industrials.

  • PAR Capital Management's largest Q3 2023 buy was American Express Global Business Travel: 541,851 shares worth $2.98M.
  • PAR Capital Management added most to Avis in Q3 2023, an estimated $48.4M increase.
  • PAR Capital Management's biggest Q3 2023 reduction was Uber, cutting an estimated $45.7M.
  • PAR Capital Management fully exited DoorDash in Q3 2023, selling an estimated $917K.
  • PAR Capital Management's ten largest holdings make up 80% of its $2.67B portfolio in Q3 2023.
  • PAR Capital Management opened 4 new positions and closed 2 in Q3 2023.
  • PAR Capital Management's portfolio value fell 6.9% quarter-over-quarter to $2.67B.

Based on PAR Capital Management's 13F filing for Q3 2023, filed 14 Nov 2023.