Par Capital Management - Q3 2021 holdings

$4.17 Billion is the total value of Par Capital Management's 61 reported holdings in Q3 2021. The portfolio turnover from Q2 2021 to Q3 2021 was 6.6% .

 Value Shares↓ Weighting
EXPE BuyEXPEDIA GROUP INC$664,789,000
+5.7%
4,056,066
+5.6%
15.95%
+3.6%
BKNG BuyBOOKING HOLDINGS INC$426,727,000
+30.0%
179,760
+19.8%
10.24%
+27.4%
TRIP BuyTRIPADVISOR INC$417,948,000
-10.4%
12,347,046
+6.7%
10.03%
-12.2%
SYF  SYNCHRONY FINANCIAL$361,712,000
+0.7%
7,400,0000.0%8.68%
-1.3%
WEX BuyWEX INC$246,596,000
+10.6%
1,400,000
+21.7%
5.92%
+8.3%
UBER BuyUBER TECHNOLOGIES INC$212,164,000
+28113.3%
4,735,800
+31472.0%
5.09%
+28177.8%
UAL SellUNITED AIRLS HLDGS INC$176,009,000
-22.4%
3,700,000
-14.6%
4.22%
-23.9%
SABR SellSABRE CORP$159,571,000
-16.0%
13,477,322
-11.5%
3.83%
-17.7%
DAL SellDELTA AIR LINES INC DEL$123,718,000
-13.0%
2,903,500
-11.7%
2.97%
-14.8%
ALGT SellALLEGIANT TRAVEL CO$109,371,000
-19.5%
559,500
-20.1%
2.62%
-21.1%
BALY SellBALLYS CORPORATION$103,561,000
-16.0%
2,065,434
-9.4%
2.48%
-17.7%
LUV SellSOUTHWEST AIRLS CO$102,860,000
-8.5%
2,000,000
-5.6%
2.47%
-10.4%
V  VISA INC$100,238,000
-4.7%
450,0000.0%2.40%
-6.7%
ALK SellALASKA AIR GROUP INC$94,205,000
-17.8%
1,607,600
-15.4%
2.26%
-19.5%
SNCY  SUN CTRY AIRLS HLDGS INC$74,335,000
-4.6%
2,216,3120.0%1.78%
-6.6%
SCHW  SCHWAB CHARLES CORP$72,840,000
+0.0%
1,000,0000.0%1.75%
-2.0%
AAL BuyAMERICAN AIRLS GROUP INC$64,382,000
+4.6%
3,137,500
+8.1%
1.54%
+2.5%
GRPN BuyGROUPON INC$63,492,000
+7.4%
2,783,500
+103.2%
1.52%
+5.2%
CARG  CARGURUS INC$62,506,000
+19.7%
1,990,0000.0%1.50%
+17.4%
TRVG BuyTRIVAGO N V$52,164,000
-18.4%
21,118,927
+9.3%
1.25%
-20.1%
PFSI  PENNYMAC FINL SVCS INC NEW$42,278,000
-1.0%
691,6000.0%1.01%
-3.0%
AXP  AMERICAN EXPRESS CO$41,883,000
+1.4%
250,0000.0%1.00%
-0.7%
TRUE SellTRUECAR INC$39,765,000
-27.2%
9,558,804
-1.1%
0.95%
-28.7%
TFC BuyTRUIST FINL CORP$39,589,000
+42.7%
675,000
+35.0%
0.95%
+39.7%
VLRS  CONTROLADORA VUELA COMP DE Aspon adr rp 10$38,906,000
+13.5%
1,783,8560.0%0.93%
+11.2%
STT BuySTATE STR CORP$38,124,000
+12.6%
450,000
+9.4%
0.92%
+10.4%
GDOT BuyGREEN DOT CORPcl a$37,004,000
+21.5%
735,226
+13.1%
0.89%
+19.0%
SAVE SellSPIRIT AIRLS INC$33,722,000
-20.9%
1,300,000
-7.1%
0.81%
-22.5%
ABNB SellAIRBNB INC$33,550,000
-12.4%
200,000
-20.0%
0.80%
-14.2%
JBLU  JETBLUE AWYS CORP$30,580,000
-8.9%
2,000,0000.0%0.73%
-10.7%
RRR  RED ROCK RESORTS INCcl a$27,379,000
+20.5%
534,5290.0%0.66%
+18.2%
MA  MASTERCARD INCORPORATEDcl a$17,384,000
-4.8%
50,0000.0%0.42%
-6.7%
DFS  DISCOVER FINL SVCS$14,221,000
+3.9%
115,7610.0%0.34%
+1.8%
COF  CAPITAL ONE FINL CORP$9,718,000
+4.7%
60,0000.0%0.23%
+2.6%
WPCB  WARBURG PINCUS CAPTAL CORP I$7,335,000
+0.3%
750,0000.0%0.18%
-1.7%
WH  WYNDHAM HOTELS & RESORTS INC$6,561,000
+6.8%
85,0000.0%0.16%
+4.7%
WPCA  WARBURG PINCUS CAPTAL CORP I$4,910,000
+0.2%
500,0000.0%0.12%
-1.7%
VGII  VIRGIN GROUP ACQUISIT CORP I$3,884,000
-0.8%
400,0000.0%0.09%
-3.1%
WU  WESTERN UN CO$2,022,000
-12.0%
100,0000.0%0.05%
-12.5%
CND NewCONCORD ACQUISITION CORP$1,008,000100,000
+100.0%
0.02%
FRSG  FIRST RESERVE SUSTAINABLE GW$984,000
+1.4%
100,0000.0%0.02%0.0%
AUS  AUSTERLITZ ACQUISITION CORP$994,000
+0.2%
100,0000.0%0.02%0.0%
DMYQU  DMY TECHNOLOGY GROUP INC IVunit 99/99/9999$991,000
+1.4%
100,0000.0%0.02%0.0%
ATAQ  ALTIMAR ACQUISITION CORP III$974,000
-0.1%
100,0000.0%0.02%
-4.2%
FSNB  FUSION ACQUISITION CORP II$971,000
+0.4%
100,0000.0%0.02%
-4.2%
ASZ  AUSTERLITZ ACQUISITION CORP$975,000
+0.2%
100,0000.0%0.02%
-4.2%
OHPA  ORION ACQUISITION CORP$970,000
+0.4%
100,0000.0%0.02%
-4.2%
 RXR ACQUISITION CORP$972,000
+0.1%
100,0000.0%0.02%
-4.2%
ZIXI  ZIX CORP$508,000
+0.2%
71,9000.0%0.01%0.0%
ETSY NewETSY INC$312,0001,500
+100.0%
0.01%
WPCBWS  WARBURG PINCUS CAPTAL CORP I*w exp 99/99/999$140,000
-28.2%
150,0000.0%0.00%
-40.0%
WPCAWS  WARBURG PINCUS CAPTAL CORP I*w exp 99/99/999$105,000
-22.2%
100,0000.0%0.00%0.0%
VGIIWS  VIRGIN GROUP ACQUISIT CORP I*w exp 03/13/202$69,000
-32.4%
80,0000.0%0.00%0.0%
DMYQWS  DMY TECHNOLOGY GROUP INC IV*w exp 03/04/202$38,000
+35.7%
20,0000.0%0.00%0.0%
ASZWS  AUSTERLITZ ACQUISITION CORP*w exp 02/19/202$42,000
-2.3%
25,0000.0%0.00%0.0%
AUSWS  AUSTERLITZ ACQUISITION CORP*w exp 02/19/202$26,000
-16.1%
25,0000.0%0.00%0.0%
FSNBWS  FUSION ACQUISITION CORP II*w exp 02/29/202$22,000
-33.3%
33,3330.0%0.00%0.0%
ATAQWS  ALTIMAR ACQUISITION CORP III*w exp 08/03/202$26,000
-7.1%
25,0000.0%0.00%0.0%
FRSGW  FIRST RESERVE SUSTAINABLE GW*w exp 03/05/202$21,000
-27.6%
25,0000.0%0.00%0.0%
RXRAW  RXR ACQUISITION CORP*w exp 03/08/202$15,000
-28.6%
20,0000.0%0.00%
-100.0%
OHPAW  ORION ACQUISITION CORP*w exp 02/19/202$16,000
-33.3%
25,0000.0%0.00%
-100.0%
PCYO ExitPURE CYCLE CORP$0-31,000
-100.0%
-0.01%
TRIP ExitTRIPADVISOR INCput$0-1,535,000
-100.0%
-1.52%
Original filings

The following EDGAR filing(s) were analyzed to create this report:

  • View 13F-HR/A filed 2021-11-15
Signatures

The EDGAR filing(s) were signed by:

About Par Capital Management

Par Capital Management is a Boston-based investment firm that specializes in the airline industry. The company was founded in 1990 by Paul Reeder and Edward Shapiro, both of whom had previously worked at Harvard Management Company. Since its inception, Par Capital has grown to become one of the most successful hedge funds in the world, with over $10 billion in assets under management.

The firm's investment strategy is focused on identifying undervalued companies in the airline industry and investing in them for the long term. Par Capital's portfolio includes a number of major airlines, including Delta Air Lines, United Airlines, and American Airlines. The company is known for its deep understanding of the airline industry and its ability to identify opportunities that other investors may overlook.

Par Capital is led by CEO Paul Reeder and COO Edward Shapiro, both of whom have extensive experience in the finance industry. The firm's Chief Investment Officer is William H. Spiegel, who has been with the company since 1999. Under their leadership, Par Capital has consistently delivered strong returns for its investors, with an average annual return of over 20% since its inception.

Overall, Par Capital Management is a highly respected investment firm with a proven track record of success in the airline industry. While past performance is not a guarantee of future results, the company's deep industry knowledge and experienced leadership team make it a compelling option for investors looking to gain exposure to the airline sector.

It's important to note that this information is for educational purposes only and has not been fact-checked. As with any investment, it's important to do your own research and consult with a financial advisor before making any investment decisions.

Top long-term holdings
NameQuarters ownedLatest quarter ownedMax weighting
EXPEDIA INC DEL42Q3 202322.2%
DELTA AIR LINES INC DEL42Q3 202314.3%
TRIPADVISOR INC42Q3 202314.4%
ALASKA AIR GROUP INC42Q3 20238.2%
CONTROLADORA VUELA COMP DE A38Q3 20231.1%
UNITED CONTL HLDGS INC37Q3 202324.2%
WEX INC36Q3 202313.0%
SOUTHWEST AIRLS CO36Q3 20235.2%
AMERICAN AIRLS GROUP INC35Q3 20235.1%
PURECYCLE CORP33Q2 20211.3%

View Par Capital Management's complete holdings history.

Latest significant ownerships (13-D/G)
Par Capital Management Q3 2021 significant holdings filed using form 13D/G when ownership exceeds 5% of a company's total stock issue.
FiledShares Percentage
Global Eagle Entertainment Inc.May 22, 201429,478,01141.0%
Orbitz Worldwide, Inc.November 16, 200924,624,12524.4%
US AIRWAYS GROUP INCMarch 17, 200611,768,48514.3%
DECKERS OUTDOOR CORPFebruary 14, 20061,147,5679.3%
D&K HEALTHCARE RESOURCES INCSold outFebruary 14, 200600.0%
FLYI INCSold outFebruary 14, 200600.0%
LODGENET ENTERTAINMENT CORPFebruary 14, 2006750,0004.1%
PURE CYCLE CORPFebruary 14, 20061,996,73913.7%
ULTIMATE ELECTRONICS INCSold outFebruary 14, 200600.0%
AMERICA WEST HOLDINGS CORPFebruary 14, 2005603,0001.7%

View Par Capital Management's complete significant-ownership history.

Latest filings
TypeFiled
13F-HR2024-02-14
13F-HR2023-11-14
13F-HR2023-08-14
13F-HR2023-05-15
13F-HR2023-02-14
13F-HR2022-11-14
13F-HR2022-08-15
13F-HR2022-05-16
13F-HR2022-02-14
13F-HR/A2021-11-15

View Par Capital Management's complete filings history.

Compare quarters

Issues

The following issues were detected while analyzing the report:

  • The reported has been restated
  • The reported has been amended

Export Par Capital Management's holdings