PAR Capital
Picture
Moves
Options: 1 move on a notional base, in the table below.
The book
- Very concentrated
- Concentrated
- Focused
- Diversified
- Low
- Moderate
- High
Top 5 positions
- trimmed+4.89
- added+0.75
- trimmed−2.26
- added+0.07
- trimmed−2.10
Positions
| TRIPTripAdvisor, Inc. | 14.71% | 11,572,046 | $622M | trimmed−1% | +4.89 pp | 32 q |
| EXPEExpedia Group, Inc. | 13.60% | 3,344,417 | $576M | added+1% | +0.75 pp | 32 q |
| BKNGBooking Holdings Inc. | 8.26% | 150,000 | $349M | trimmed−7% | −2.26 pp | 13 q |
| SYFSynchrony Financial | 7.11% | 7,400,000 | $301M | added+6% | +0.07 pp | 16 q |
| UALUnited Airlines Holdings, Inc. | 6.80% | 5,000,000 | $288M | trimmed−29% | −2.10 pp | 27 q |
| SABRSabre Corporation | 5.31% | 15,175,912 | $225M | trimmed−2% | −0.14 pp | 4 q |
| WEXWEX Inc. | 4.94% | 1,000,000 | $209M | held | — | 26 q |
| ALGTAllegiant Travel Company | 4.33% | 750,000 | $183M | trimmed−7% | −0.12 pp | 11 q |
| TRWHTwin River Worldwide Holdings, Inc. | 4.18% | 2,722,184 | $177M | trimmed−1% | +0.15 pp | 2 q |
| LUVSouthwest Airlines Co. | 3.61% | 2,500,000 | $153M | held | — | 5 q |
| DALDelta Air Lines, Inc. | 3.42% | 3,000,000 | $145M | trimmed−14% | −0.68 pp | 32 q |
| ALKAlaska Air Group, Inc. | 3.28% | 2,007,600 | $139M | trimmed−29% | −0.98 pp | 32 q |
| VVISA Inc. | 2.25% | 450,000 | $95M | held | — | 27 q |
| unresolvedTrivago NV | 1.75% | 17,224,040 | $74M | trimmed−19% | +0.25 pp | 18 q |
| SNCYSun Country Airlines Holdings, Inc. | 1.71% | 2,216,312 | $72M | new | +1.71 pp | new |
| SCHWThe Charles Schwab Corporation | 1.54% | 1,000,000 | $65M | held | — | 5 q |
| GRPNGroupon, Inc. | 1.50% | 1,254,500 | $63M | new | +1.50 pp | new |
| AALAmerican Airlines Group Inc. | 1.41% | 2,500,000 | $60M | trimmed−47% | −0.78 pp | 6 q |
| SAVEQSpirit Airlines, Inc. | 1.31% | 1,500,000 | $55M | trimmed−7% | +0.16 pp | 6 q |
| ABNBAirbnb, Inc. Class A | 1.11% | 250,000 | $47M | new | +1.11 pp | new |
| PFSIPennyMac Financial Services, Inc. | 1.09% | 691,600 | $46M | held | — | 10 q |
| TRUETrueCar, Inc. | 1.07% | 9,418,804 | $45M | held | — | 26 q |
| JBLUJetBlue Airways Corp | 0.99% | 2,054,000 | $42M | added+3% | +0.14 pp | 20 q |
| AXPAmerican Express Company | 0.84% | 250,000 | $35M | added×5.6 | +0.68 pp | 2 q |
| STTState Street Corporation | 0.79% | 400,000 | $34M | new | +0.79 pp | new |
| VLRSControladora Vuela Compania De Aviacion, S.a.b. De C.v. | 0.58% | 1,735,000 | $25M | held | — | 14 q |
| RRRRed Rock Resorts, Inc. Class A | 0.49% | 634,529 | $21M | held | — | 19 q |
| MAMastercard Incorporated | 0.42% | 50,000 | $18M | new | +0.42 pp | new |
| GDOTGreen Dot Corporation | 0.34% | 311,154 | $14M | new | +0.34 pp | new |
| DFSDiscover Financial Services | 0.26% | 115,761 | $11M | added+78% | +0.09 pp | 2 q |
| COFCapital One Financial | 0.18% | 60,000 | $8M | held | — | 2 q |
| unresolvedWarburg Pincus Captal Corp I | 0.18% | 750,000 | $7M | new | +0.18 pp | new |
| unresolvedWarburg Pincus Captal Corp I | 0.12% | 500,000 | $5M | new | +0.12 pp | new |
| PCYOPure Cycle Corporation | 0.11% | 350,000 | $5M | trimmed−65% | −0.22 pp | 32 q |
| unresolvedVirgin Group Acquisit Corp I | 0.09% | 400,000 | $4M | new | +0.09 pp | new |
| CARGCarGurus, Inc. Class A | 0.06% | 105,000 | $3M | added+40% | −0.01 pp | 4 q |
| WUThe Western Union Company | 0.06% | 100,000 | $2M | new | +0.06 pp | new |
| unresolvedDmy Technology Group Inc IV | 0.02% | 100,000 | $1M | new | +0.02 pp | new |
| unresolvedFirst Reserve Sustainable Gw | 0.02% | 100,000 | $1M | new | +0.02 pp | new |
| unresolvedFusion Acquisition Corp | 0.02% | 100,000 | $993,000 | new | +0.02 pp | new |
| unresolvedOrion Acquisition Corp | 0.02% | 100,000 | $1M | new | +0.02 pp | new |
| unresolvedRxr Acquisition Corp | 0.02% | 100,000 | $985,000 | new | +0.02 pp | new |
| unresolvedAltimar Acquisition Corp III | 0.02% | 100,000 | $1M | new | +0.02 pp | new |
| unresolvedAusterlitz Acquisition Corp | 0.02% | 100,000 | $1M | new | +0.02 pp | new |
| unresolvedAusterlitz Acquisition Corp | 0.02% | 100,000 | $1M | new | +0.02 pp | new |
| ZIXIZix Corporation | 0.01% | 71,900 | $543,000 | new | +0.01 pp | new |
| DVADaVita Inc. | — | −1,216,385 | — | exited | −4.17 pp | — |
| CVNACarvana Co. | — | −61,500 | — | exited | −0.43 pp | — |
| CARAvis Budget Group, Inc. | — | −65,800 | — | exited | −0.07 pp | — |
Other 13(f) securities
Options
| Contract | % of notional | Shares | Notional |
|---|---|---|---|
| Tripadvisor Inc PUT | 100.00% | 15,350 | $83M |
Notes