Par Capital Management Inc.
CIK:0001051359
Hedge Fund
$0 AUM
57 holdings
Boston, MA, United States
PAR Capital Management Inc is a private investment fund manager headquartered in Boston, Massachusetts. Founded in 1990, PAR is led by a small team (about 17 employees) and specializes in investment management within the finance sector. The firm serves institutional and accredited investors and is known for its focused, fundamental research-driven approach and disciplined portfolio management.
Investment Strategy
PAR Capital Management pursues long-term investment success by employing narrowly focused and rigorous fundamental research, disciplined portfolio management, and by aligning incentives between manager and client. The firm emphasizes deep sector research and a concentrated investment process to identify undervalued opportunities.
Top Buys
S
SYFSYNCHRONY FINANCIAL+$103.5M
C
CVNACARVANA CO+$78.6M
U
UALUNITED AIRLS HLDGS INC+$61.4M
B
BKNGBOOKING HOLDINGS INC+$45.2M
H
HHYATT HOTELS CORP+$44.9M
Top Sells
U
UBERUBER TECHNOLOGIES INC-$330.0M
C
CARGCARGURUS INC-$70.6M
W
WEXWEX INC-$18.7M
L
LTMLATAM AIRLINES GROUP SA-$7.9M
L
LUVSOUTHWEST AIRLS CO-$6.7M
Top Holdings
S
SYFSYNCHRONY FINANCIAL+16.3%$500.6M
E
EXPEEXPEDIA GROUP INC+13.1%$402.8M
U
UALUNITED AIRLS HLDGS INC+12.9%$395.7M
W
WEXWEX INC+8.9%$271.9M
B
BKNGBOOKING HOLDINGS INC+7.1%$219.0M
Equity Positions (53)
| Ticker | Security | Weight | Market Value | Shares | Avg Cost | Price | Change (QoQ) |
|---|---|---|---|---|---|---|---|
S SYF | SYNCHRONY FINANCIAL | 16.30% | $500.6M | 7,500,000 | $26.15 | $66.74 | +$103.5M |
E EXPE | EXPEDIA GROUP INC | 13.12% | $402.8M | 2,387,750 | $123.04 | $168.68 | +$1.4M |
U UAL | UNITED AIRLS HLDGS INC | 12.88% | $395.7M | 4,968,850 | $50.68 | $79.63 | +$61.4M |
W WEX | WEX INC | 8.85% | $271.9M | 1,851,100 | $137.34 | $146.89 | -$18.7M |
B BKNG | BOOKING HOLDINGS INC | 7.13% | $219.0M | 37,826 | $1957.36 | $5789.24 | +$45.2M |
Options Positions (4)
| Ticker | Security | Action | Type | Notional Value | Contracts | Underlying Price | Premium Paid | Change (Contracts) | Change (Value) |
|---|---|---|---|---|---|---|---|---|---|
U UAL | UNITED AIRLS HLDGS INC | Bought | Put | $11.9M | 1,490 | $79.63 | $72.53 | +490 | +$5.0M |
C CVNA | CARVANA CO | New | Put | $943.5K | 28 | $336.96 | $336.96 | +28 | +$943.5K |
C C | CITIGROUP INC | New | Put | $851.2K | 100 | $85.12 | $85.12 | +100 | +$851.2K |
S SOFI | SOFI TECHNOLOGIES INC | New | Put | $500.8K | 275 | $18.21 | $18.21 | +275 | +$500.8K |
Industry Allocation
AIR TRANSPORTATION, SCHEDULED
+32.4%
TRANSPORTATION SERVICES
+20.5%
FINANCE SERVICES
+16.3%
SERVICES-BUSINESS SERVICES, NEC
+10.1%
RETAIL-AUTO DEALERS & GASOLINE STATIONS
+5.2%
Investment Team (7)
| Name | Role | Location | |
|---|---|---|---|
A Anthony Lee | Analyst at Par Capital Management | Boston, MA , United States | |
 | Vice President of Data Science | Boston, MA , United States | |
C Chip Frazier | Partner | Boston, MA , United States | |
E Ed Shapiro | Partner | Boston, MA , United States | |
 | Partner | Bethesda, MD , United States | |
 | Portfolio Manager | Boston, MA , United States | |
 | Managing Partner, Chief Operating Officer and General Counsel | Boston, MA , United States |