Par Capital Management Inc 13F annual report
Par Capital Management Inc is an investment fund managing more than $3.18 trillion ran by Steven Smith. There are currently 49 companies in Mr. Smith’s portfolio. The largest investments include Booking Inc and Synchrony, together worth $884 billion.
$3.18 trillion Assets Under Management (AUM)
As of 7th August 2024, Par Capital Management Inc’s top holding is 123,200 shares of Booking Inc currently worth over $488 billion and making up 15.4% of the portfolio value.
Relative to the number of outstanding shares of Booking Inc, Par Capital Management Inc owns more than approximately 0.1% of the company.
In addition, the fund holds 8,400,000 shares of Synchrony worth $396 billion, whose value grew 7.0% in the past six months.
The third-largest holding is Expedia Inc worth $389 billion and the next is WEX Inc worth $326 billion, with 1,840,000 shares owned.
Currently, Par Capital Management Inc's portfolio is worth at least $3.18 trillion. The total portfolio value may be much higher due to cash
assets that are not publicly disclosed such as fixed income, real estate, or cash equivalents.
Careers at Par Capital Management Inc
The Par Capital Management Inc office and employees reside in Boston, Massachusetts. According to the last 13-F report filed with the SEC, Steven Smith serves as the Chief Operating Officer and General Counsel at Par Capital Management Inc.
Recent trades
In the most recent 13F filing, Par Capital Management Inc revealed that it had opened a new position in
Citigroup Inc and bought 12,000 shares worth $762 million.
This means they effectively own approximately 0.1% of the company.
Citigroup Inc makes up
0.2%
of the fund's Finance sector allocation and has grown its share price by 31.9% in the past year.
The investment fund also strengthened its position in Booking Inc by buying
2,000 additional shares.
This makes their stake in Booking Inc total 123,200 shares worth $488 billion.
Booking Inc soared 10.3% in the past year.
On the other hand, there are companies that Par Capital Management Inc is getting rid of from its portfolio.
Par Capital Management Inc closed its position in Squarespace on 14th August 2024.
It sold the previously owned 22,500 shares for $820 million.
Steven Smith also disclosed a decreased stake in WEX Inc by approximately 0.1%.
This leaves the value of the investment at $326 billion and 1,840,000 shares.
One of the largest hedge funds
The two most similar investment funds to Par Capital Management Inc are Td Private Client Wealth and Kellogg W K Foundation Trust. They manage $3.18 trillion and $3.18 trillion respectively.
Steven Smith investment strategy
Par Capital Management Inc’s portfolio is diversified across 6 sectors.
Currently, their heaviest sector is Consumer Discretionary — making up 31.5% of
the total portfolio value.
The fund focuses on investments in the United States as
65.3% of the portfolio companies
are based in the United States.
The majority of the companies in the fund’s portfolio are large-cap stocks.
Stocks with a size of more than $10 billion in market cap make up
33% of the total holdings value.
On the other hand, small-cap stocks make up only 2.0% of the portfolio.
The average market cap of the portfolio companies is close to $97.2 billion.
The complete list of Par Capital Management Inc trades based on 13F SEC filings
These positions were updated on August 14th based on the fund’s latest 13F filing. Quickly find out what the most recently closed or increased positions are.
| Security | Shares Owned | Value | Allocation |
|---|---|---|---|
| Booking Holdings Inc |
1.65%
123,200
|
$488,056,800,000 | 15.37% |
| Synchrony Financial |
No change
8,400,000
|
$396,396,000,000 | 12.48% |
| Expedia Group Inc |
8.78%
3,083,645
|
$388,508,434,000 | 12.23% |
| WEX Inc |
0.54%
1,840,000
|
$325,937,600,000 | 10.26% |
| Uber Technologies Inc |
0.41%
4,337,800
|
$315,271,304,000 | 9.93% |
| United Airls Hldgs Inc |
No change
4,559,050
|
$221,843,373,000 | 6.99% |
| Delta Air Lines, Inc. |
No change
4,455,000
|
$211,345,200,000 | 6.66% |
| Avis Budget Group Inc |
6.51%
850,000
|
$88,842,000,000 | 2.80% |
| Schwab Charles Corp |
No change
1,200,000
|
$88,428,000,000 | 2.78% |
| Carvana Co. |
No change
506,000
|
$65,132,320,000 | 2.05% |
| CarGurus Inc |
51.29%
2,246,727
|
$58,864,247,000 | 1.85% |
| Airbnb, Inc. |
No change
300,000
|
$45,489,000,000 | 1.43% |
| Southwest Airls Co |
2.00%
1,542,618
|
$44,134,301,000 | 1.39% |
| Alaska Air Group Inc. |
1.00%
964,953
|
$38,984,101,000 | 1.23% |
| Tesla Inc |
754.67%
192,300
|
$38,052,324,000 | 1.20% |
| Hawaiian Holdings, Inc. |
6.58%
2,974,630
|
$36,974,651,000 | 1.16% |
| Block Inc |
No change
500,000
|
$32,245,000,000 | 1.02% |
| Sun Ctry Airls Hldgs Inc |
No change
2,505,506
|
$31,469,155,000 | 0.99% |
| Avidxchange Holdings Inc |
1.96%
2,600,000
|
$31,356,000,000 | 0.99% |
| Webster Finl Corp |
50.00%
600,000
|
$26,154,000,000 | 0.82% |
| Comerica, Inc. |
No change
500,000
|
$25,520,000,000 | 0.80% |
| Allegiant Travel |
66.92%
503,306
|
$25,281,060,000 | 0.80% |
| American Airls Group Inc |
20.67%
2,000,000
|
$22,660,000,000 | 0.71% |
| Skywest Inc. |
1.84%
239,941
|
$19,691,958,000 | 0.62% |
| Controladora Vuela Comp De A |
0.60%
2,964,401
|
$18,853,590,000 | 0.59% |
| Jetblue Awys Corp |
No change
2,999,500
|
$18,266,955,000 | 0.58% |
| Sabre Corp |
No change
5,000,000
|
$13,350,000,000 | 0.42% |
| Frontier Group Hldgs Inc |
No change
1,756,100
|
$8,657,573,000 | 0.27% |
| Hyatt Hotels Corporation |
No change
56,961
|
$8,653,515,000 | 0.27% |
| Etsy Inc |
No change
138,250
|
$8,153,985,000 | 0.26% |
| Alphabet Inc |
6.03%
38,700
|
$7,098,354,000 | 0.22% |
| Global Business Travel Group |
No change
746,730
|
$4,928,418,000 | 0.16% |
| Trivago N V |
57.70%
2,284,894
|
$4,592,637,000 | 0.14% |
| Hertz Global Holdings Inc. |
No change
1,000,571
|
$3,532,016,000 | 0.11% |
| Maplebear Inc |
No change
75,000
|
$2,410,500,000 | 0.08% |
| Wyndham Hotels & Resorts Inc |
No change
27,000
|
$1,998,000,000 | 0.06% |
| Vacasa Inc |
39.35%
318,405
|
$1,550,632,000 | 0.05% |
| TripAdvisor Inc. |
81.91%
85,000
|
$1,513,850,000 | 0.05% |
| Trip.com Group Ltd |
No change
20,000
|
$940,000,000 | 0.03% |
| Squarespace, Inc. |
Closed
22,500
|
$819,900,000 | |
| Lyft Inc |
35.80%
55,000
|
$775,500,000 | 0.02% |
| Citigroup Inc |
Opened
12,000
|
$761,520,000 | 0.02% |
| Citizens Finl Group Inc |
Closed
20,000
|
$725,800,000 | |
| Wells Fargo Co New |
No change
10,000
|
$593,900,000 | 0.02% |
| Meta Platforms Inc |
Opened
1,000
|
$504,220,000 | 0.02% |
| Visa Inc |
Opened
1,800
|
$472,446,000 | 0.01% |
| DoorDash Inc |
No change
4,000
|
$435,120,000 | 0.01% |
| Spirit Airls Inc |
No change
100,000
|
$366,000,000 | 0.01% |
| Upwork Inc |
Opened
30,000
|
$322,500,000 | 0.01% |
| Eventbrite Inc |
Closed
31,000
|
$169,880,000 | |
| Eventbrite Inc |
Opened
31,000
|
$150,040,000 | 0.00% |
| Fastly Inc |
Opened
19,000
|
$140,030,000 | 0.00% |
| No transactions found | |||
| Showing first 500 out of 52 holdings | |||
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