PAR Capital
Picture
Moves
Options: 2 moves on a notional base, in the table below.
The book
- Very concentrated
- Concentrated
- Focused
- Diversified
- Low
- Moderate
- High
Top 5 positions
- added+1.08
- trimmed−0.52
- trimmed−0.89
- held
- held
Positions
| EXPEExpedia Group, Inc. | 22.30% | 9,534,627 | $1.3B | added0% | +1.08 pp | 26 q |
| UALUnited Airlines Holdings, Inc. | 21.60% | 14,046,389 | $1.2B | trimmed−7% | −0.52 pp | 21 q |
| DALDelta Air Lines, Inc. | 8.52% | 8,500,000 | $490M | trimmed−14% | −0.89 pp | 26 q |
| BKNGBooking Holdings Inc. | 5.39% | 157,864 | $310M | held | — | 7 q |
| CHDNChurchill Downs Inc | 4.63% | 2,155,951 | $266M | held | — | 26 q |
| ALGTAllegiant Travel Company | 4.23% | 1,625,000 | $243M | held | — | 5 q |
| DVADaVita Inc. | 4.13% | 4,159,000 | $237M | held | — | 7 q |
| ALKAlaska Air Group, Inc. | 3.06% | 2,710,000 | $176M | held | — | 26 q |
| JBLUJetBlue Airways Corp | 2.91% | 9,978,600 | $167M | added+14% | +0.19 pp | 14 q |
| GRPNGroupon, Inc. | 2.62% | 56,645,000 | $151M | held | — | 10 q |
| WEXWEX Inc. | 2.55% | 725,000 | $147M | held | — | 20 q |
| HTZGQHertz Global Holdings Inc | 1.92% | 7,974,607 | $110M | added+35% | +0.34 pp | 11 q |
| SYFSynchrony Financial | 1.66% | 2,795,000 | $95M | added+5% | +0.12 pp | 10 q |
| TRIPTripAdvisor, Inc. | 1.55% | 2,304,017 | $89M | held | — | 26 q |
| unresolvedTrivago NV | 1.50% | 21,029,796 | $86M | added+2% | +0.04 pp | 12 q |
| VVISA Inc. | 1.35% | 450,000 | $77M | held | — | 21 q |
| METAMeta Platforms, Inc. Class A | 1.11% | 357,800 | $64M | held | — | 12 q |
| PCYOPure Cycle Corporation | 1.07% | 5,982,970 | $62M | held | — | 26 q |
| BYDBoyd Gaming Corporation | 1.01% | 2,424,195 | $58M | added+3% | −0.06 pp | 26 q |
| unresolvedTwin River Worldwide Holding | 0.64% | 1,617,481 | $37M | added+10% | −0.09 pp | 3 q |
| RRRRed Rock Resorts, Inc. Class A | 0.63% | 1,771,257 | $36M | added+8% | +0.04 pp | 13 q |
| EHTHeHealth, Inc. | 0.62% | 531,142 | $35M | held | — | 10 q |
| TRUETrueCar, Inc. | 0.61% | 10,299,504 | $35M | held | — | 20 q |
| BRSLBrightstar Lottery PLC | 0.53% | 2,132,747 | $30M | added+3% | +0.08 pp | 18 q |
| PFSIPennyMac Financial Services, Inc. | 0.50% | 950,000 | $29M | held | — | 4 q |
| SKYWSkywest Inc | 0.46% | 458,884 | $26M | held | — | 3 q |
| CVNACarvana Co. | 0.40% | 345,000 | $23M | held | — | 10 q |
| QNSTQuinStreet, Inc. | 0.39% | 1,767,697 | $22M | held | — | 6 q |
| unresolvedGrubhub Inc | 0.34% | 350,000 | $20M | held | — | 2 q |
| VLRSControladora Vuela Compania De Aviacion, S.a.b. De C.v. | 0.26% | 1,465,886 | $15M | added+8% | +0.05 pp | 8 q |
| unresolvedBonanza Creek Energy Inc | 0.23% | 601,714 | $13M | trimmed−36% | −0.10 pp | 10 q |
| WEDWebster Financial Corp | 0.17% | 210,100 | $10M | held | — | 15 q |
| SEMSelect Medical Holdings Corp | 0.16% | 567,708 | $9M | held | — | 11 q |
| TREELendingTree, Inc. | 0.14% | 26,400 | $8M | held | — | 8 q |
| TSGIStars Group INC/THE | 0.12% | 454,100 | $7M | trimmed−10% | −0.02 pp | 8 q |
| CORCencora, Inc. | 0.11% | 75,000 | $6M | held | — | 8 q |
| CARAvis Budget Group, Inc. | 0.11% | 225,000 | $6M | held | — | 18 q |
| GSKYGreenSky, Inc. Class A | 0.10% | 812,871 | $6M | added+12% | −0.05 pp | 3 q |
| ELVElevance Health, Inc. | 0.08% | 20,000 | $5M | held | — | 5 q |
| EVEREverQuote, Inc. Class A | 0.05% | 125,000 | $3M | held | — | 4 q |
| PENNPENN Entertainment, Inc. | 0.05% | 160,000 | $3M | added×2.1 | +0.03 pp | 2 q |
| HOUSAnywhere Real Estate Inc. | 0.04% | 350,000 | $2M | held | — | 2 q |
| DESPDespegar.com Corp | 0.04% | 183,526 | $2M | held | — | 6 q |
| MMYTMakeMyTrip Limited | 0.04% | 101,200 | $2M | held | — | 8 q |
| CHGGChegg, Inc. | 0.03% | 50,000 | $1M | new | +0.03 pp | new |
| MGMMgm Resorts International | 0.03% | 70,000 | $2M | new | +0.03 pp | new |
| unresolvedDover Motorsports, Inc. | 0.02% | 590,000 | $1M | held | — | 11 q |
| ZIXIZix Corporation | 0.01% | 71,900 | $521,000 | held | — | 3 q |
| FLEXFlex Ltd. | 0.00% | 9,910 | $104,000 | held | — | 3 q |
| ZZillow Group, Inc. Class C | — | −155,000 | — | exited | −0.12 pp | — |
| SEMGSemgroup Corp-class A | — | −537,779 | — | exited | −0.11 pp | — |
| SGISomnigroup International Inc. | — | −50,000 | — | exited | −0.06 pp | — |
Other 13(f) securities
Options
| Contract | % of notional | Shares | Notional |
|---|---|---|---|
| CAR PUT | 46.96% | 4,547 | $13M |
| HTZGQ CALL | 41.42% | 8,000 | $11M |
| IWM PUT | 11.62% | 200 | $3M |
Notes