Par Capital Management - Q1 2022 holdings

$4.18 Billion is the total value of Par Capital Management's 47 reported holdings in Q1 2022. The portfolio turnover from Q4 2021 to Q1 2022 was 69.6% .

 Value Shares↓ Weighting
EXPE SellEXPEDIA GROUP INC$802,247,000
+0.7%
4,100,000
-7.0%
19.17%
-10.9%
BKNG BuyBOOKING HOLDINGS INC$402,440,000
+28.5%
171,364
+31.2%
9.62%
+13.7%
TRIP SellTRIPADVISOR INC$319,594,000
-5.0%
11,784,438
-4.6%
7.64%
-16.0%
WEX BuyWEX INC$304,273,000
+27.3%
1,705,090
+0.1%
7.27%
+12.6%
UBER BuyUBER TECHNOLOGIES INC$279,065,000
+56.5%
7,821,339
+83.9%
6.67%
+38.5%
SYF BuySYNCHRONY FINANCIAL$268,037,000
-23.0%
7,700,000
+2.7%
6.40%
-31.8%
LUV BuySOUTHWEST AIRLS CO$158,212,000
+84.7%
3,454,404
+72.7%
3.78%
+63.5%
UAL SellUNITED AIRLS HLDGS INC$143,716,000
-3.5%
3,100,000
-8.9%
3.43%
-14.6%
SABR SellSABRE CORP$139,024,000
+30.6%
12,163,107
-1.9%
3.32%
+15.5%
CARG BuyCARGURUS INC$122,742,000
+83.4%
2,890,767
+45.3%
2.93%
+62.2%
FB NewMETA PLATFORMS INCcl a$118,963,000535,000
+100.0%
2.84%
DAL BuyDELTA AIR LINES INC DEL$118,710,000
+10.6%
3,000,000
+9.3%
2.84%
-2.1%
ALK BuyALASKA AIR GROUP INC$93,042,000
+12.5%
1,603,900
+1.0%
2.22%
-0.5%
SAVE NewSPIRIT AIRLS INC$89,312,0004,083,763
+100.0%
2.13%
SCHW  SCHWAB CHARLES CORP$84,310,000
+0.2%
1,000,0000.0%2.02%
-11.3%
ALGT SellALLEGIANT TRAVEL CO$64,956,000
-31.8%
400,000
-21.5%
1.55%
-39.7%
SNCY SellSUN CTRY AIRLS HLDGS INC$57,405,000
-5.0%
2,192,712
-1.1%
1.37%
-15.9%
AAL SellAMERICAN AIRLS GROUP INC$55,298,000
-1.9%
3,030,000
-3.4%
1.32%
-13.1%
BALY SellBALLYS CORPORATION$55,296,000
-29.7%
1,798,819
-12.9%
1.32%
-37.8%
TRVG BuyTRIVAGO N V$52,123,000
+13.2%
22,085,827
+4.6%
1.25%
+0.2%
APLE BuyAPPLE HOSPITALITY REIT INC$50,237,000
+1397.8%
2,795,631
+1246.0%
1.20%
+1219.8%
AXP  AMERICAN EXPRESS CO$46,750,000
+14.3%
250,0000.0%1.12%
+1.2%
STT  STATE STR CORP$39,204,000
-6.3%
450,0000.0%0.94%
-17.1%
GOOGL NewALPHABET INCcap stk cl a$33,292,00011,920
+100.0%
0.80%
ULCC NewFRONTIER GROUP HLDGS INC$32,947,0002,907,948
+100.0%
0.79%
TRUE SellTRUECAR INC$32,221,000
+11.4%
8,157,142
-4.1%
0.77%
-1.4%
JBLU BuyJETBLUE AWYS CORP$30,648,000
+7.6%
2,050,000
+2.5%
0.73%
-4.8%
VLRS SellCONTROLADORA VUELA COMP DE Aspon adr rp 10$27,285,000
-14.9%
1,500,000
-15.9%
0.65%
-24.7%
 VACASA INC$23,219,000
-0.6%
2,807,5670.0%0.56%
-12.0%
WBS NewWEBSTER FINL CORP$16,836,000300,000
+100.0%
0.40%
GDOT SellGREEN DOT CORPcl a$13,740,000
-52.6%
500,000
-37.5%
0.33%
-58.1%
DFS  DISCOVER FINL SVCS$12,756,000
-4.6%
115,7610.0%0.30%
-15.5%
NewAVIDXCHANGE HOLDINGS INC$11,673,0001,450,000
+100.0%
0.28%
PYPL NewPAYPAL HLDGS INC$11,565,000100,000
+100.0%
0.28%
APSG NewAPOLLO STRATEGIC GROWTH CAPT$11,054,0001,111,000
+100.0%
0.26%
MA NewMASTERCARD INCORPORATEDcl a$10,721,00030,000
+100.0%
0.26%
TFC NewTRUIST FINL CORP$9,923,000175,000
+100.0%
0.24%
AER NewAERCAP HOLDINGS NV$9,667,000192,263
+100.0%
0.23%
 GRAB HOLDINGS LIMITEDclass a ord$8,750,000
-50.9%
2,500,0000.0%0.21%
-56.5%
TREE BuyLENDINGTREE INC NEW$7,575,000
+157.5%
63,300
+163.8%
0.18%
+129.1%
WH  WYNDHAM HOTELS & RESORTS INC$7,199,000
-5.5%
85,0000.0%0.17%
-16.5%
VGII  VIRGIN GROUP ACQUISIT CORP I$3,944,000
-0.1%
400,0000.0%0.09%
-12.1%
H NewHYATT HOTELS CORP$2,291,00024,000
+100.0%
0.06%
CPA NewCOPA HOLDINGS SAcl a$795,0009,500
+100.0%
0.02%
CHGG NewCHEGG INC$726,00020,000
+100.0%
0.02%
SQ NewBLOCK INCcl a$719,0005,300
+100.0%
0.02%
OHPAW ExitORION ACQUISITION CORP*w exp 02/19/202$0-25,000
-100.0%
0.00%
RXRAW ExitRXR ACQUISITION CORP*w exp 03/08/202$0-20,000
-100.0%
0.00%
VGIIWS SellVIRGIN GROUP ACQUISIT CORP I*w exp 03/13/202$13,000
-80.6%
34,613
-56.7%
0.00%
-100.0%
ExitPLANET LABS PBC*w exp 12/06/202$0-20,000
-100.0%
-0.00%
FRSGW ExitFIRST RESERVE SUSTAINABLE GW*w exp 03/05/202$0-25,000
-100.0%
-0.00%
FSNBWS ExitFUSION ACQUISITION CORP II*w exp 02/29/202$0-33,333
-100.0%
-0.00%
ATAQWS ExitALTIMAR ACQUISITION CORP III*w exp 08/03/202$0-25,000
-100.0%
-0.00%
WPCBWS ExitWARBURG PINCUS CAPTAL CORP I*w exp 99/99/999$0-100,000
-100.0%
-0.00%
WPCAWS ExitWARBURG PINCUS CAPTAL CORP I*w exp 99/99/999$0-150,000
-100.0%
-0.00%
ETSY ExitETSY INC$0-1,500
-100.0%
-0.01%
ExitPLANET LABS PBC$0-100,000
-100.0%
-0.02%
OHPA ExitORION ACQUISITION CORP$0-100,000
-100.0%
-0.03%
ExitRXR ACQUISITION CORP$0-100,000
-100.0%
-0.03%
ASZ ExitAUSTERLITZ ACQUISITION CORP$0-100,000
-100.0%
-0.03%
ATAQ ExitALTIMAR ACQUISITION CORP III$0-100,000
-100.0%
-0.03%
FSNB ExitFUSION ACQUISITION CORP II$0-99,999
-100.0%
-0.03%
AUS ExitAUSTERLITZ ACQUISITION CORP$0-100,000
-100.0%
-0.03%
FRSG ExitFIRST RESERVE SUSTAINABLE GW$0-100,000
-100.0%
-0.03%
CND ExitCONCORD ACQUISITION CORP$0-100,000
-100.0%
-0.03%
WPCA ExitWARBURG PINCUS CAPTAL CORP I-A$0-500,000
-100.0%
-0.13%
WPCB ExitWARBURG PINCUS CAPTAL CORP I-B$0-750,000
-100.0%
-0.20%
COF ExitCAPITAL ONE FINL CORP$0-60,000
-100.0%
-0.24%
HLT ExitHILTON WORLDWIDE HLDGS INC$0-180,600
-100.0%
-0.76%
LYFT ExitLYFT INC$0-1,017,000
-100.0%
-1.17%
V ExitVISA INC$0-450,000
-100.0%
-2.63%
Original filings

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

  • View 13F-HR filed 2022-05-16
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 DEL45Q2 202422.2%
DELTA AIR LINES INC DEL45Q2 202414.3%
TRIPADVISOR INC45Q2 202414.4%
ALASKA AIR GROUP INC45Q2 20248.2%
CONTROLADORA VUELA COMP DE A41Q2 20241.1%
UNITED CONTL HLDGS INC40Q2 202424.2%
WEX INC39Q2 202413.7%
SOUTHWEST AIRLS CO39Q2 20245.2%
AMERICAN AIRLS GROUP INC38Q2 20245.1%
AVIS BUDGET GROUP INC33Q2 20247.2%

View Par Capital Management's complete holdings history.

Latest significant ownerships (13-D/G)
Par Capital Management Q1 2022 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-HR2024-08-14
N-PX2024-08-07
13F-HR2024-05-15
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

View Par Capital Management's complete filings history.

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