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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
+9.68%
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
$3.22B
AUM Growth
+$171M
Cap. Flow
-$58.7M
Cap. Flow %
-1.82%
Top 10 Hldgs %
81.79%
Holding
55
New
13
Increased
11
Reduced
11
Closed
6

Top Buys

Rank Stock Value
1
UAL icon
United Airlines
UAL
+$100M
2
CARG icon
CarGurus
CARG
+$34.4M
3
HA
Hawaiian Holdings, Inc.
HA
+$17.7M
4
ETSY icon
Etsy
ETSY
+$8.97M
5
CVNA icon
Carvana
CVNA
+$6.35M

Top Sells

Rank Stock Value
1
TRIP icon
TripAdvisor
TRIP
+$103M
2
UBER icon
Uber
UBER
+$77.5M
3
AXP icon
American Express
AXP
+$65.6M
4
CAR icon
Avis
CAR
+$7.03M
5
GOOGL icon
Alphabet (Google) Class A
GOOGL
+$4.3M

Sector Composition

Rank Sector Weight
1 Consumer Discretionary 31.26%
2 Technology 26.79%
3 Industrials 26.15%
4 Financials 15.49%
5 Communication Services 0.3%
Name Market Value Portfolio Weight Shares or Principal Change
in Stake 		Capital Flow
BKNG icon
1
Booking.com
BKNG
$157B
$440M 13.67%
3,030,000
+30,000
+1% +$4.28M
WEX icon
2
WEX
WEX
$6.49B
$439M 13.67%
1,850,000
– –
EXPE icon
3
Expedia Group
EXPE
$37.2B
$391M 12.14%
2,834,865
-28,635
-1% -$4.07M
SYF icon
4
Synchrony
SYF
$24.8B
$362M 11.26%
8,400,000
– –
UBER icon
5
Uber
UBER
$144B
$333M 10.34%
4,320,000
-1,080,000
-20% -$77.5M
UAL icon
6
United Airlines
UAL
$39.8B
$218M 6.79%
4,559,050
+2,335,650
+105% +$100M
DAL icon
7
Delta Air Lines
DAL
$57.8B
$213M 6.63%
4,455,000
– –
CAR icon
8
Avis
CAR
$5.32B
$97.7M 3.04%
798,021
-50,938
-6% -$7.03M
SCHW
9
Charles Schwab
SCHW
$184B
$86.8M 2.7%
1,200,000
– –
ABNB icon
10
Airbnb
ABNB
$91.9B
$49.5M 1.54%
300,000
– –
LUV icon
11
Southwest Airlines
LUV
$22.2B
$45.9M 1.43%
1,574,100
+89,100
+6% +$2.76M
CVNA icon
12
Carvana
CVNA
$49B
$44.5M 1.38%
2,530,000
+520,000
+26% +$6.35M
XYZ
13
Block Inc
XYZ
$49.4B
$42.3M 1.32%
500,000
– –
ALK icon
14
Alaska Air
ALK
$5.23B
$41.9M 1.3%
974,700
-51,300
-5% -$1.92M
AAL icon
15
American Airlines Group
AAL
$10B
$38.7M 1.2%
2,521,245
+10,645
+0.4% +$154K
SNCY
16
DELISTED
Sun Country Airlines
SNCY
$37.8M 1.18%
2,505,506
-261,494
-9% -$3.77M
HA
17
DELISTED
Hawaiian Holdings, Inc.
HA
$37.2M 1.16%
2,791,000
+1,271,000
+84% +$17.7M
CARG icon
18
CarGurus
CARG
$3.4B
$34.3M 1.07%
+1,485,000
New +$34.4M
AVDX
19
DELISTED
AvidXchange
AVDX
$33.5M 1.04%
2,550,000
-200,000
-7% -$2.4M
CMA
20
DELISTED
Comerica
CMA
$27.5M 0.86%
500,000
– –
ALGT icon
21
Allegiant Air
ALGT
$2.66B
$22.7M 0.71%
301,528
+48,028
+19% +$3.64M
JBLU icon
22
JetBlue
JBLU
$2.19B
$22.3M 0.69%
2,999,500
+999,500
+50% +$6.2M
VLRS
23
Controladora Vuela Compania de Aviacion
VLRS
$887M
$22.1M 0.69%
2,982,162
+777,162
+35% +$6M
WBS icon
24
Webster Financial
WBS
$12.4B
$20.3M 0.63%
400,000
+25,000
+7% +$1.22M
SKYW icon
25
Skywest
SKYW
$4.37B
$16.9M 0.53%
244,441
– –
1
2 3

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PAR Capital Management's Q1 2024 Portfolio in Review

As of Q1 2024, PAR Capital Management held 55 positions worth $3.22B, up 5.6% from $3.04B the previous quarter. Its ten largest holdings account for 82% of the portfolio.

PAR Capital Management's Q1 2024 filing shows 13 new, 11 increased, 11 reduced and 6 closed positions. Its largest new stake was CarGurus: 1,485,000 shares worth $34.3M. The largest sale was TripAdvisor, an estimated $103M.

By sector, the portfolio is most concentrated in Consumer Discretionary at 31% of assets, down from 34% a quarter earlier, followed by Technology and Industrials.

  • PAR Capital Management's largest Q1 2024 buy was CarGurus: 1,485,000 shares worth $34.3M.
  • PAR Capital Management added most to United Airlines in Q1 2024, an estimated $100M increase.
  • PAR Capital Management's biggest Q1 2024 reduction was TripAdvisor, cutting an estimated $103M.
  • PAR Capital Management fully exited American Express in Q1 2024, selling an estimated $65.6M.
  • PAR Capital Management's ten largest holdings make up 82% of its $3.22B portfolio in Q1 2024.
  • PAR Capital Management opened 13 new positions and closed 6 in Q1 2024.
  • PAR Capital Management's portfolio value rose 5.6% quarter-over-quarter to $3.22B.

Based on PAR Capital Management's 13F filing for Q1 2024, filed 15 May 2024.