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PAR Capital Management Portfolio holdings
AUM
$4.03B
Turnover
28.57%
1-Year Est. Return
35.05%
This Fund
S&P 500
This Quarter
Est. Return
-13.18%
1 Year Est. Return
+35.05%
3 Year Est. Return
+138.5%
5 Year Est. Return
+113.35%
10 Year Est. Return
+497.77%
AUM
$3.45B
AUM Growth
-$332M
(-8.8%)
Cap. Flow
+$200M
Cap. Flow
% of AUM
5.8%
Top 10 Holdings %
Top 10 Hldgs %
82.72%
Holding
59
New
6
Increased
16
Reduced
14
Closed
11
Avg Time Held Equity + Options
3.7
years
Top 10 Avg Time Held Equity + Options
4.3
years
Top 20 Avg Time Held Equity + Options
4.6
years
Avg Time Held Equity only
3.9
years
Top 10 Avg Time Held Equity only
4.3
years
Top 20 Avg Time Held Equity only
4.6
years
Top Buys
| Rank | Stock | Value |
|---|---|---|
| 1 |
Uber
UBER
|
+$211M |
| 2 |
Booking.com
BKNG
|
+$83.2M |
| 3 |
Visa
V
|
+$25.4M |
| 4 |
TripAdvisor
TRIP
|
+$22M |
| 5 |
Allegiant Air
ALGT
|
+$20.4M |
Top Sells
| Rank | Stock | Value |
|---|---|---|
| 1 |
Charles Schwab
SCHW
|
+$64.6M |
| 2 |
Webster Financial
WBS
|
+$48.3M |
| 3 |
Grupo Aeromexico SAB de CV
AERO
|
+$30.4M |
| 4 |
Cars.com
CARS
|
+$25.1M |
| 5 |
Marriott International
MAR
|
+$14.8M |
Sector Composition
| Rank | Sector | Weight |
|---|---|---|
| 1 | Industrials | 34.91% |
| 2 | Consumer Discretionary | 27.99% |
| 3 | Technology | 19.46% |
| 4 | Financials | 16.57% |
| 5 | Communication Services | 0.72% |
| Name | Market Value | Portfolio Weight | Shares or Principal |
Change in Stake | Capital Flow | Held Since | |
|---|---|---|---|---|---|---|---|
1
Synchrony
SYF
$23.3B
| $518M | 15% |
7,612,137
+112,137
| +1% | +$8.15M |
2017 Q2
35 quarters
|
|
2
United Airlines
UAL
$31.9B
| $460M | 13.33% |
4,996,850
+102,000
| +2% | +$10.7M |
2014 Q3
46 quarters
|
|
3
Expedia Group
EXPE
$34.2B
| $451M | 13.06% |
1,952,120
+3,674
| +0.2% | +$902K |
2013 Q2
51 quarters
|
|
4
WEX
WEX
$6.11B
| $345M | 10% |
2,254,984
+2,984
| +0.1% | +$466K |
2014 Q4
45 quarters
|
|
|
5
Uber
UBER
$142B
| $269M | 7.79% |
3,736,973
+2,741,773
| +275% | +$211M |
2025 Q3
2 quarters
|
|
6
Delta Air Lines
DAL
$49.7B
| $234M | 6.77% |
3,514,445
-59,765
| -2% | -$4.02M |
2013 Q2
51 quarters
|
|
7
Southwest Airlines
LUV
$19.3B
| $196M | 5.68% |
5,219,192
+269,000
| +5% | +$12.1M |
2020 Q1
24 quarters
|
|
|
8
Booking.com
BKNG
$123B
| $179M | 5.19% |
1,064,325
+452,150
| +74% | +$83.2M |
2013 Q2
51 quarters
|
|
9
Carvana
CVNA
$65.2B
| $109M | 3.17% |
1,739,360
-14,000
| -0.8% | -$1.04M |
2023 Q2
11 quarters
|
|
10
Airbnb
ABNB
$99.6B
| $94.4M | 2.73% |
747,500
+17,600
| +2% | +$2.29M |
2025 Q2
3 quarters
|
|
|
11
Allegiant Air
ALGT
$1.84B
| $68.6M | 1.99% |
846,191
+222,110
| +36% | +$20.4M |
2018 Q3
30 quarters
|
|
12
Alaska Air
ALK
$3.98B
| $58.2M | 1.69% |
1,581,500
| – | – |
2013 Q2
51 quarters
|
|
13
Hyatt Hotels
H
$15.6B
| $48.7M | 1.41% |
338,500
-300
| -0.1% | -$47.6K |
2022 Q1
16 quarters
|
|
|
14
TripAdvisor
TRIP
$1.07B
| $43.4M | 1.26% |
4,072,054
+1,891,490
| +87% | +$22M |
2013 Q2
51 quarters
|
|
15
Lyft
LYFT
$6.27B
| $41.6M | 1.21% |
3,130,000
-10,000
| -0.3% | -$155K |
2024 Q1
8 quarters
|
|
16
Skywest
SKYW
$3.6B
| $32.9M | 0.95% |
357,923
-1,958
| -0.5% | -$193K |
2022 Q3
14 quarters
|
|
|
17
Marriott International
MAR
$99.6B
| $29.4M | 0.85% |
90,000
-44,900
| -33% | -$14.8M |
2024 Q3
6 quarters
|
|
18
Avis
CAR
$3.77B
| $29.2M | 0.85% |
200,000
| – | – |
2022 Q4
13 quarters
|
|
19
DELISTED
Sun Country Airlines
SNCY
| $24.2M | 0.7% |
1,467,800
-532,200
| -27% | -$9.5M |
2021 Q1
20 quarters
|
|
|
20
Visa
V
$746B
| $24.2M | 0.7% |
80,000
+78,960
| +7,592% | +$25.4M |
2024 Q4
5 quarters
|
|
|
21
Charles Schwab
SCHW
$158B
| $23.8M | 0.69% |
253,300
-658,700
| -72% | -$64.6M |
2020 Q1
24 quarters
|
|
22
Ryanair
RYAAY
$26.9B
| $19.9M | 0.58% |
345,000
| – | – |
2024 Q4
5 quarters
|
|
23
JetBlue
JBLU
$1.14B
| $19.7M | 0.57% |
4,457,425
| – | – |
2016 Q2
39 quarters
|
|
24
Copa Holdings
CPA
$5.36B
| $17.9M | 0.52% |
157,197
| – | – |
2025 Q2
3 quarters
|
|
25
BILL Holdings
BILL
$3.87B
| $15.3M | 0.44% |
400,000
+75,000
| +23% | +$3.35M |
2025 Q3
2 quarters
|
|
Similar funds
PAR Capital Management's Q1 2026 Portfolio in Review
As of Q1 2026, PAR Capital Management held 59 positions worth $3.45B, down 8.8% from $3.78B the previous quarter. Its ten largest holdings account for 83% of the portfolio.
PAR Capital Management deployed $200M of net new capital in Q1 2026, opening 6 new positions and adding to 16 existing holdings. Its largest new stake was Citizens Financial Group: 16,000 shares worth $960K.
By sector, the portfolio is most concentrated in Industrials at 35% of assets, down from 36% a quarter earlier, followed by Consumer Discretionary and Technology.
On the sell side, the largest reduction was Charles Schwab, an estimated $64.6M trimmed.
- PAR Capital Management's largest Q1 2026 buy was Citizens Financial Group: 16,000 shares worth $960K.
- PAR Capital Management added most to Uber in Q1 2026, an estimated $211M increase.
- PAR Capital Management's biggest Q1 2026 reduction was Charles Schwab, cutting an estimated $64.6M.
- PAR Capital Management fully exited Grupo Aeromexico SAB de CV in Q1 2026, selling an estimated $30.4M.
- PAR Capital Management's ten largest holdings make up 83% of its $3.45B portfolio in Q1 2026.
- PAR Capital Management opened 6 new positions and closed 11 in Q1 2026.
- PAR Capital Management's portfolio value fell 8.8% quarter-over-quarter to $3.45B.
Based on PAR Capital Management's 13F filing for Q1 2026, filed 15 May 2026.