PAR Capital
Picture
Moves
Options: 5 moves on a notional base, in the table below.
The book
- Very concentrated
- Concentrated
- Focused
- Diversified
- Low
- Moderate
- High
Top 5 positions
- trimmed+0.87
- trimmed−0.57
- trimmed−1.87
- trimmed−7.21
- added+2.11
Positions
| BKNGBooking Holdings Inc. | 19.48% | 316,444 | $504M | trimmed−2% | +0.87 pp | 10 q |
| UALUnited Airlines Holdings, Inc. | 10.12% | 7,561,591 | $262M | trimmed−4% | −0.57 pp | 24 q |
| EXPEExpedia Group, Inc. | 7.70% | 2,423,617 | $199M | trimmed−39% | −1.87 pp | 29 q |
| DVADaVita Inc. | 6.40% | 2,091,400 | $166M | trimmed−50% | −7.21 pp | 10 q |
| SYFSynchrony Financial | 5.57% | 6,500,000 | $144M | added+30% | +2.11 pp | 13 q |
| CHDNChurchill Downs Inc | 5.40% | 1,048,720 | $140M | trimmed−0% | +0.75 pp | 29 q |
| ALGTAllegiant Travel Company | 5.36% | 1,270,676 | $139M | trimmed−20% | −0.24 pp | 8 q |
| WEXWEX Inc. | 5.10% | 800,000 | $132M | held | — | 23 q |
| DALDelta Air Lines, Inc. | 3.81% | 3,517,000 | $99M | trimmed−13% | −1.14 pp | 29 q |
| LUVSouthwest Airlines Co. | 3.37% | 2,548,000 | $87M | added×82.2 | +3.32 pp | 2 q |
| VVISA Inc. | 3.36% | 450,000 | $87M | held | — | 24 q |
| unresolvedTwin River Worldwide Holding | 2.37% | 2,751,299 | $61M | added+1% | +0.84 pp | 6 q |
| TRIPTripAdvisor, Inc. | 1.92% | 2,613,100 | $50M | trimmed−23% | −0.61 pp | 29 q |
| BYDBoyd Gaming Corporation | 1.87% | 2,319,237 | $48M | added+22% | +0.69 pp | 29 q |
| CVNACarvana Co. | 1.71% | 368,588 | $44M | held | — | 13 q |
| unresolvedTrivago NV | 1.60% | 21,029,796 | $41M | held | — | 15 q |
| PFSIPennyMac Financial Services, Inc. | 1.53% | 944,900 | $39M | held | — | 7 q |
| SABRSabre Corporation | 1.45% | 4,656,406 | $38M | new | +1.45 pp | new |
| ALKAlaska Air Group, Inc. | 1.40% | 1,000,000 | $36M | trimmed−48% | −0.95 pp | 29 q |
| AALAmerican Airlines Group Inc. | 1.36% | 2,700,000 | $35M | added×2.3 | +0.76 pp | 3 q |
| TRUETrueCar, Inc. | 1.03% | 10,299,504 | $27M | held | — | 23 q |
| SCHWThe Charles Schwab Corporation | 1.01% | 775,000 | $26M | added+11% | 0.00 pp | 2 q |
| JBLUJetBlue Airways Corp | 0.84% | 2,000,000 | $22M | trimmed−69% | −1.66 pp | 17 q |
| PENNPENN Entertainment, Inc. | 0.83% | 701,300 | $21M | added×2.5 | +0.68 pp | 5 q |
| RRRRed Rock Resorts, Inc. Class A | 0.69% | 1,627,248 | $18M | trimmed−17% | −0.03 pp | 16 q |
| SAVEQSpirit Airlines, Inc. | 0.69% | 1,000,000 | $18M | trimmed−39% | −0.22 pp | 3 q |
| GRPNGroupon, Inc. | 0.66% | 940,775 | $17M | trimmed−14% | −0.26 pp | 13 q |
| GLPIGaming and Leisure Properties, Inc. | 0.52% | 390,056 | $13M | trimmed−23% | −0.09 pp | 2 q |
| PCYOPure Cycle Corporation | 0.43% | 1,219,000 | $11M | trimmed−38% | −0.51 pp | 29 q |
| CARGCarGurus, Inc. Class A | 0.39% | 400,000 | $10M | new | +0.39 pp | new |
| TREELendingTree, Inc. | 0.39% | 35,000 | $10M | added+33% | +0.18 pp | 11 q |
| CHGGChegg, Inc. | 0.32% | 125,000 | $8M | added+25% | +0.17 pp | 4 q |
| EVEREverQuote, Inc. Class A | 0.28% | 125,000 | $7M | held | — | 7 q |
| VLRSControladora Vuela Compania De Aviacion, S.a.b. De C.v. | 0.24% | 1,183,700 | $6M | added+25% | +0.10 pp | 11 q |
| RDFNRedfin Corporation | 0.21% | 127,800 | $5M | new | +0.21 pp | new |
| SKYWSkywest Inc | 0.18% | 143,984 | $5M | trimmed−53% | −0.17 pp | 6 q |
| ANGIAngi Inc. Class A | 0.09% | 200,000 | $2M | new | +0.09 pp | new |
| MMYTMakeMyTrip Limited | 0.08% | 131,288 | $2M | held | — | 11 q |
| MGPMGM Growth Properties LLC Class A representing limited liability company interests | 0.07% | 63,300 | $2M | new | +0.07 pp | new |
| DESPDespegar.com Corp | 0.05% | 183,526 | $1M | held | — | 9 q |
| unresolvedDover Motorsports, Inc. | 0.04% | 590,000 | $915,000 | held | — | 14 q |
| PAGPPlains GP Holdings, L.P. Class A Units representing Limited Partner Interests | 0.04% | 120,000 | $1M | trimmed−71% | −0.06 pp | 2 q |
| TCOMTrip.com Group Limited | 0.02% | 20,000 | $518,000 | held | — | 2 q |
| ZIXIZix Corporation | 0.02% | 71,900 | $496,000 | held | — | 2 q |
| FLEXFlex Ltd. | 0.00% | 9,910 | $102,000 | new | 0.00 pp | new |
| SEMSelect Medical Holdings Corp | — | −567,708 | — | exited | −0.37 pp | — |
| RHPRyman Hospitality Properties, Inc | — | −129,512 | — | exited | −0.20 pp | — |
| GSKYGreenSky, Inc. Class A | — | −349,000 | — | exited | −0.06 pp | — |
| MLCOMelco Resorts & Entertainment Limited | — | −85,000 | — | exited | −0.05 pp | — |
| SEICSEI Investments Co | — | −15,965 | — | exited | −0.03 pp | — |
| AMAntero Midstream Corporation | — | −22,950 | — | exited | 0.00 pp | — |
Other 13(f) securities
Options
Notes
| Issue | % of notes | Principal | Value |
|---|---|---|---|
| Penn Entertainment Inc | 100.00% | 12,000,000 | $18M |