Par Capital Management Inc.
In its 13F for Q3 2024 (holdings as of September 30, 2024, filed November 14, 2024), Par Capital Management Inc. reported 56 stock positions worth $3.5 billion. Its top holding was Booking (BKNG) at 14.7% of the portfolio, followed by Expedia (EXPE, 13.7%) and Synchrony Financial (SYF, 11.9%). Compared with Q2 2024, it opened 12 new positions, sold out of 6, added to 19 and reduced 7. The biggest buy was Expedia (EXPE, shares +6%) and the biggest sale an exit from Hawaiian (HA).
- Most Recent 13F
- Q2 2026
- Location
- BOSTON, MA
- CIK
- 0001051359
- Portfolio Value
- $3.5B (Q3 2024)
- SEC Filing
- 0001051359-24-000013 ↗ filed Nov 14, 2024
Holdings Value
Holdings 56 stocks · $3.5B
| BKNG Booking Holdings Inc. | 14.72% | 123,230 | $519.1M | Add +0.0% |
| EXPE Expedia Group Inc. | 13.66% | 3,253,609 | $481.6M | Add +5.5% |
| SYF Synchrony Financial | 11.88% | 8,400,000 | $419.0M | No change |
| WEX Wex Inc. | 11.00% | 1,850,000 | $388.0M | Add +0.5% |
| UBER Uber Technologies Inc. | 9.28% | 4,353,700 | $327.2M | Add +0.4% |
| UAL United Airlines Holdings Inc. | 7.83% | 4,841,050 | $276.2M | Add +6.2% |
| DAL Delta Air Lines Inc. | 6.42% | 4,455,000 | $226.3M | No change |
| CVNA Carvana Co. | 2.49% | 504,400 | $87.8M | Reduce -0.3% |
| SCHW Schwab (charles) Corp. | 2.39% | 1,300,000 | $84.3M | Add +8.3% |
| CARG Cargurus Inc. | 2.27% | 2,663,956 | $80.0M | Add +18.6% |
| CAR Avis Budget Group Inc. | 2.08% | 835,300 | $73.2M | Reduce -1.7% |
| LUV Southwest Airlines Co. | 1.44% | 1,709,192 | $50.6M | Add +10.8% |
| TSLA Tesla Inc. | 1.43% | 192,300 | $50.3M | No change |
| ALK Alaska Air Group Inc. | 1.21% | 945,654 | $42.8M | Reduce -2.0% |
| ABNB Airbnb Inc. Class A | 1.08% | 299,100 | $37.9M | Reduce -0.3% |
| XYZ Block Inc. | 0.95% | 500,000 | $33.6M | No change |
| WBS Webster Financial Corp. | 0.93% | 700,000 | $32.6M | Add +16.7% |
| CMA Comerica Inc. | 0.85% | 500,000 | $30.0M | No change |
| SNCY Sun Country Airlines Holding filed as SUN CTRY AIRLS HLDGS INC | 0.80% | 2,505,506 | $28.1M | No change |
| ALGT Allegiant Travel Co. | 0.80% | 509,884 | $28.1M | Add +1.3% |
| AVDX Avidxchange Holdings Inc. | 0.77% | 3,350,000 | $27.2M | Add +28.9% |
| AAL American Airlines Group Inc. | 0.64% | 2,000,000 | $22.5M | No change |
| SKYW Skywest Inc. | 0.58% | 239,941 | $20.4M | No change |
| MAR Marriott International Class A | 0.56% | 78,800 | $19.6M | New |
| JBLU Jetblue Airways Corp. | 0.55% | 2,969,505 | $19.5M | Reduce -1.0% |
| SABR Sabre Corp. | 0.52% | 5,000,000 | $18.4M | No change |
| VLRS Controladora Vuela Cia-ADR | 0.41% | 2,275,330 | $14.4M | Reduce -23.2% |
| TRIP Tripadvisor Inc. | 0.37% | 891,622 | $12.9M | Add +949.0% |
| LTM Latam Airlines Group SA-ADR | 0.35% | 467,500 | $12.3M | New |
| ULCC Frontier Group Holdings Inc. | 0.27% | 1,756,100 | $9.4M | No change |
| H Hyatt Hotels Corp. Class A | 0.25% | 56,961 | $8.7M | No change |
| ETSY Etsy Inc. | 0.22% | 138,250 | $7.7M | No change |
| GOOG Alphabet Inc. Class C | 0.19% | 39,900 | $6.7M | Add +3.1% |
| GBTG Global Business Travel Group | 0.16% | 746,730 | $5.7M | No change |
| TRVG Trivago NV - ADR | 0.14% | 2,928,130 | $5.1M | Add +28.1% |
| CART Maplebear Inc. | 0.09% | 82,000 | $3.3M | Add +9.3% |
| HTZ Hertz Global Hldgs Inc. | 0.09% | 1,000,571 | $3.3M | No change |
| WH Wyndham Hotels & Resorts Inc. | 0.06% | 27,000 | $2.1M | No change |
| SAVEQ Spirit Airlines Inc. | 0.05% | 767,000 | $1.8M | Add +667.0% |
| TCOM Trip.com Group Ltd.-ADR | 0.04% | 24,000 | $1.4M | Add +20.0% |
| VCSA Vacasa Inc. Class A | 0.03% | 318,405 | $895K | No change |
| LYFT LYFT Inc. Class A | 0.02% | 55,000 | $701K | No change |
| WIX Wix.com Ltd. | 0.02% | 3,500 | $585K | New |
| DASH DoorDash Inc. Class A | 0.02% | 4,000 | $571K | No change |
| PNC PNC Financial Services Group | 0.02% | 3,000 | $555K | New |
| SEIC Sei Investments Company | 0.01% | 7,500 | $519K | New |
| CCL Carnival Corp. | 0.01% | 25,500 | $471K | Add +112.5% |
| EBAY eBay Inc. | 0.01% | 7,000 | $456K | New |
| TFC Truist Financial Corp. | 0.01% | 10,000 | $428K | New |
| SHOP Shopify Inc. Class A | 0.01% | 5,000 | $401K | New |
| FLEX Flex Ltd. | 0.01% | 9,910 | $331K | New |
| CFG Citizens Financial Group | 0.01% | 7,000 | $287K | New |
| PFSI Pennymac Financial Services | 0.01% | 2,500 | $285K | New |
| ANGI Angi Inc. | 0.01% | 85,000 | $219K | New |
| META Meta Platforms Inc. Class A | 0.01% | 380 | $218K | Reduce -62.0% |
| EB Eventbrite Inc. Class A | 0.00% | 41,000 | $112K | Add +32.3% |
Portfolio Sells Q2 2024 → Q3 2024
| HA Hawaiian Holdings Inc. | Sold out | 0.00% | −1.16 |
| CAR Avis Budget Group Inc. | Reduce -1.7% | 2.08% | −0.72 |
| ABNB Airbnb Inc. Class A | Reduce -0.3% | 1.08% | −0.36 |
| VLRS Controladora Vuela Cia-ADR | Reduce -23.2% | 0.41% | −0.19 |
| C Citigroup Inc. | Sold out | 0.00% | −0.02 |
| JBLU Jetblue Airways Corp. | Reduce -1.0% | 0.55% | −0.02 |
| WFC Wells Fargo & Co. | Sold out | 0.00% | −0.02 |
| ALK Alaska Air Group Inc. | Reduce -2.0% | 1.21% | −0.01 |
| V Visa Inc. Class A | Sold out | 0.00% | −0.01 |
| UPWK Upwork Inc. | Sold out | 0.00% | −0.01 |
| META Meta Platforms Inc. Class A | Reduce -62.0% | 0.01% | −0.01 |
| FSLY Fastly Inc. Class A | Sold out | 0.00% | −0.00 |
| CVNA Carvana Co. | Reduce -0.3% | 2.49% | +0.44 |
Portfolio Buys Q2 2024 → Q3 2024
| EXPE Expedia Group Inc. | Add +5.5% | 13.66% | +1.43 |
| UAL United Airlines Holdings Inc. | Add +6.2% | 7.83% | +0.85 |
| WEX Wex Inc. | Add +0.5% | 11.00% | +0.74 |
| MAR Marriott International Class A | New | 0.56% | +0.56 |
| CARG Cargurus Inc. | Add +18.6% | 2.27% | +0.42 |
| LTM Latam Airlines Group SA-ADR | New | 0.35% | +0.35 |
| TRIP Tripadvisor Inc. | Add +949.0% | 0.37% | +0.32 |
| WBS Webster Financial Corp. | Add +16.7% | 0.93% | +0.10 |
| LUV Southwest Airlines Co. | Add +10.8% | 1.44% | +0.05 |
| SAVEQ Spirit Airlines Inc. | Add +667.0% | 0.05% | +0.04 |
| CART Maplebear Inc. | Add +9.3% | 0.09% | +0.02 |
| WIX Wix.com Ltd. | New | 0.02% | +0.02 |
| PNC PNC Financial Services Group | New | 0.02% | +0.02 |
| SEIC Sei Investments Company | New | 0.01% | +0.01 |
| EBAY eBay Inc. | New | 0.01% | +0.01 |
| TFC Truist Financial Corp. | New | 0.01% | +0.01 |
| SHOP Shopify Inc. Class A | New | 0.01% | +0.01 |
| TCOM Trip.com Group Ltd.-ADR | Add +20.0% | 0.04% | +0.01 |
| FLEX Flex Ltd. | New | 0.01% | +0.01 |
| CFG Citizens Financial Group | New | 0.01% | +0.01 |
| PFSI Pennymac Financial Services | New | 0.01% | +0.01 |
| CCL Carnival Corp. | Add +112.5% | 0.01% | +0.01 |
| ANGI Angi Inc. | New | 0.01% | +0.01 |
| ALGT Allegiant Travel Co. | Add +1.3% | 0.80% | +0.00 |
| TRVG Trivago NV - ADR | Add +28.1% | 0.14% | −0.00 |
| EB Eventbrite Inc. Class A | Add +32.3% | 0.00% | −0.00 |
| GOOG Alphabet Inc. Class C | Add +3.1% | 0.19% | −0.03 |
| AVDX Avidxchange Holdings Inc. | Add +28.9% | 0.77% | −0.22 |
| SCHW Schwab (charles) Corp. | Add +8.3% | 2.39% | −0.39 |
| BKNG Booking Holdings Inc. | Add +0.0% | 14.72% | −0.65 |
| UBER Uber Technologies Inc. | Add +0.4% | 9.28% | −0.65 |
All Filings
| Quarter | Positions | 13F Reported Value | Top Holdings |
|---|---|---|---|
| Q2 2026 | 45 | $4.0B | UAL, SYF, EXPE, DAL, WEX |
| Q1 2026 | 45 | $3.4B | SYF, UAL, EXPE, WEX, UBER |
| Q4 2025 | 48 | $3.8B | SYF, EXPE, UAL, WEX, DAL |
| Q3 2025 | 57 | $3.4B | SYF, UAL, EXPE, WEX, DAL |
| Q2 2025 | 53 | $3.1B | SYF, EXPE, UAL, WEX, BKNG |
| Q1 2025 | 46 | $3.0B | EXPE, SYF, UAL, UBER, WEX |
| Q4 2024 | 57 | $3.4B | SYF, UAL, EXPE, WEX, DAL |
| Q3 2024 | 56 | $3.5B | BKNG, EXPE, SYF, WEX, UBER |
| Q2 2024 | 50 | $3.2B | BKNG, SYF, EXPE, WEX, UBER |
| Q1 2024 | 47 | $3.2B | BKNG, WEX, EXPE, SYF, UBER |