PAR CAPITAL MANAGEMENT INC's Q4 2022 13F: 3 new positions, 6 exits

Form 13F-HR for the quarter ended Dec 31, 2022 · filed Feb 14, 2023 · 39 reported positions · accession 0001051359-23-000003

View the filing on SEC.gov

What changed this quarter

Activity Security Weight before Weight now Change Shares Shares %
Exited META PLATFORMS INC (META) 2.6% — −2.6 pts −507K sh −100%
Increased DELTA AIR LINES INC DEL (DAL) 3.1% 6.1% +2.9 pts +2.13M sh +71%
New AVIS BUDGET GROUP (CAR) — 2.5% +2.5 pts +424K sh new
Reduced UNITED AIRLS HLDGS INC (UAL) 4.6% 3.1% −1.5 pts −1.53M sh −40%
Reduced EXPEDIA GROUP INC (EXPE) 13.7% 11.0% −2.7 pts −455K sh −12%
Exited MASTERCARD INCORPORATED (MA) 0.7% — −0.7 pts −70,000 sh −100%
Increased FRONTIER GROUP HLDGS INC (ULCC) 0.8% 1.2% +0.4 pts +1.15M sh +53%
Reduced ISHARES TR (QUAL) 6.7% 6.7% 0.0 pts −95,600 sh −6%
Reduced TRIPADVISOR INC (TRIP) 7.4% 5.5% −1.9 pts −507K sh −6%
Exited TRUECAR INC (TRUE) 0.3% — −0.3 pts −5.37M sh −100%
Reduced WEBSTER FINL CORP (WBS) 1.0% 0.8% −0.2 pts −142K sh −24%
Increased CARGURUS INC (CARG) 3.3% 3.4% +0.1 pts +450K sh +7%
Exited ARK ETF TR (ARKF) 0.2% — −0.2 pts −350K sh −100%
Increased AVIDXCHANGE HOLDINGS INC (AVDX) 0.6% 0.9% +0.3 pts +500K sh +25%
Reduced UBER TECHNOLOGIES INC (UBER) 9.8% 8.7% −1.1 pts −178K sh −2%
Exited APPLE HOSPITALITY REIT INC (APLE) 0.1% — −0.1 pts −218K sh −100%
Increased PAYPAL HLDGS INC (PYPL) 0.9% 0.8% −0.1 pts +38,000 sh +13%
Reduced ALLEGIANT TRAVEL CO (ALGT) 1.0% 0.8% −0.2 pts −36,614 sh −10%
Reduced GREEN DOT CORP (GDOT) 0.6% 0.4% −0.2 pts −150K sh −18%
Reduced SABRE CORP (SABR) 0.2% 0.1% 0.0 pts −342K sh −34%
Reduced BOOKING HOLDINGS INC (BKNG) 8.5% 10.1% +1.6 pts −675 sh 0%
Reduced SUN CTRY AIRLS HLDGS INC (SNCY) 1.0% 1.1% +0.1 pts −65,881 sh −3%
Increased WEX INC (WEX) 8.7% 10.9% +2.2 pts +6,200 sh 0%
Reduced ETSY INC (ETSY) 0.1% 0.0% 0.0 pts −7,400 sh −52%
Exited SPOTIFY TECHNOLOGY S A (SPOT) 0.0% — 0.0 pts −6,500 sh −100%
Increased SCHWAB CHARLES CORP (SCHW) 3.1% 3.5% +0.4 pts +5,000 sh 0%
Increased WELLS FARGO CO NEW (WFC) 0.0% 0.0% 0.0 pts +9,400 sh +81%
New WIX COM LTD (WIX) — 0.0% 0.0 pts +5,000 sh new
Reduced SOFI TECHNOLOGIES INC (SOFI) 0.1% 0.1% 0.0 pts −57,000 sh −7%
New JPMORGAN CHASE & CO (JPM) — 0.0% 0.0 pts +1,500 sh new
Increased HYATT HOTELS CORP (H) 0.3% 0.3% 0.0 pts +1,500 sh +2%
Increased AIRBNB INC (ABNB) 1.2% 0.9% −0.2 pts +1,000 sh 0%

Reported by the fund in its Form 13F filed with the SEC; holdings are as of the quarter-end report date and may have changed since. For informational purposes only — not investment advice or a recommendation to buy or sell any security. FilingExplorer is not affiliated with or endorsed by this fund. How this brief is compiled

Top 10 positions — 75.6% of the equity book

Changes in the top 10 this quarter: SCHW entered · UAL left

# Security Weight before Weight now
1 EXPEDIA GROUP INC (EXPE) 13.7% 11.0%
2 WEX INC (WEX) 8.7% 10.9%
3 BOOKING HOLDINGS INC (BKNG) 8.5% 10.1%
4 SYNCHRONY FINANCIAL (SYF) 8.5% 9.6%
5 UBER TECHNOLOGIES INC (UBER) 9.8% 8.7%
6 ISHARES TR (QUAL) 6.7% 6.7%
7 DELTA AIR LINES INC DEL (DAL) 3.1% 6.1%
8 TRIPADVISOR INC (TRIP) 7.4% 5.5%
9 SCHWAB CHARLES CORP (SCHW) 3.1% 3.5% Entered the top 10
10 CARGURUS INC (CARG) 3.3% 3.4%
— UNITED AIRLS HLDGS INC (UAL) 4.6% 3.1% Left the top 10

Weights are each position's reported value as a share of the fund's reported equity positions (options and principal-amount holdings excluded).

Option positions (puts and calls)

Reported separately from the positions above. The value a 13F reports for an option is that of the underlying shares, not the option itself.

Activity Security Type Shares before Shares now Reported value
New ALLEGIANT TRAVEL CO (ALGT) Call 0 10,000 $680K