<?xml version="1.0"?>
<ownershipDocument>

    <schemaVersion>X0206</schemaVersion>

    <documentType>3</documentType>

    <periodOfReport>2023-10-12</periodOfReport>

    <noSecuritiesOwned>0</noSecuritiesOwned>

    <issuer>
        <issuerCik>0001592058</issuerCik>
        <issuerName>Party City Holdco Inc.</issuerName>
        <issuerTradingSymbol>PRTYQ</issuerTradingSymbol>
    </issuer>

    <reportingOwner>
        <reportingOwnerId>
            <rptOwnerCik>0001595082</rptOwnerCik>
            <rptOwnerName>DAVIDSON KEMPNER CAPITAL MANAGEMENT LP</rptOwnerName>
        </reportingOwnerId>
        <reportingOwnerAddress>
            <rptOwnerStreet1>520 MADISON AVENUE</rptOwnerStreet1>
            <rptOwnerStreet2>30TH FLOOR</rptOwnerStreet2>
            <rptOwnerCity>NEW YORK</rptOwnerCity>
            <rptOwnerState>NY</rptOwnerState>
            <rptOwnerZipCode>10022</rptOwnerZipCode>
            <rptOwnerStateDescription></rptOwnerStateDescription>
        </reportingOwnerAddress>
        <reportingOwnerRelationship>
            <isDirector>0</isDirector>
            <isOfficer>0</isOfficer>
            <isTenPercentOwner>1</isTenPercentOwner>
            <isOther>0</isOther>
            <officerTitle></officerTitle>
            <otherText></otherText>
        </reportingOwnerRelationship>
    </reportingOwner>

    <reportingOwner>
        <reportingOwnerId>
            <rptOwnerCik>0001336624</rptOwnerCik>
            <rptOwnerName>M.H. DAVIDSON &amp; CO.</rptOwnerName>
        </reportingOwnerId>
        <reportingOwnerAddress>
            <rptOwnerStreet1>885 THIRD AVENUE</rptOwnerStreet1>
            <rptOwnerStreet2>SUITE 3300</rptOwnerStreet2>
            <rptOwnerCity>NEW YORK</rptOwnerCity>
            <rptOwnerState>NY</rptOwnerState>
            <rptOwnerZipCode>10022</rptOwnerZipCode>
            <rptOwnerStateDescription></rptOwnerStateDescription>
        </reportingOwnerAddress>
        <reportingOwnerRelationship>
            <isDirector>0</isDirector>
            <isOfficer>0</isOfficer>
            <isTenPercentOwner>1</isTenPercentOwner>
            <isOther>0</isOther>
            <officerTitle></officerTitle>
            <otherText></otherText>
        </reportingOwnerRelationship>
    </reportingOwner>

    <reportingOwner>
        <reportingOwnerId>
            <rptOwnerCik>0000928549</rptOwnerCik>
            <rptOwnerName>DAVIDSON KEMPNER PARTNERS</rptOwnerName>
        </reportingOwnerId>
        <reportingOwnerAddress>
            <rptOwnerStreet1>C/O MHD MANAGEMENT CO.</rptOwnerStreet1>
            <rptOwnerStreet2>520 MADISON AVENUE, 30TH FLOOR</rptOwnerStreet2>
            <rptOwnerCity>NEW YORK</rptOwnerCity>
            <rptOwnerState>NY</rptOwnerState>
            <rptOwnerZipCode>10022</rptOwnerZipCode>
            <rptOwnerStateDescription></rptOwnerStateDescription>
        </reportingOwnerAddress>
        <reportingOwnerRelationship>
            <isDirector>0</isDirector>
            <isOfficer>0</isOfficer>
            <isTenPercentOwner>1</isTenPercentOwner>
            <isOther>0</isOther>
            <officerTitle></officerTitle>
            <otherText></otherText>
        </reportingOwnerRelationship>
    </reportingOwner>

    <reportingOwner>
        <reportingOwnerId>
            <rptOwnerCik>0001989453</rptOwnerCik>
            <rptOwnerName>DKIP (Cayman) Ltd II</rptOwnerName>
        </reportingOwnerId>
        <reportingOwnerAddress>
            <rptOwnerStreet1>520 MADISON AVENUE, 30TH FLOOR</rptOwnerStreet1>
            <rptOwnerStreet2></rptOwnerStreet2>
            <rptOwnerCity>NEW YORK</rptOwnerCity>
            <rptOwnerState>NY</rptOwnerState>
            <rptOwnerZipCode>10022</rptOwnerZipCode>
            <rptOwnerStateDescription></rptOwnerStateDescription>
        </reportingOwnerAddress>
        <reportingOwnerRelationship>
            <isDirector>0</isDirector>
            <isOfficer>0</isOfficer>
            <isTenPercentOwner>1</isTenPercentOwner>
            <isOther>0</isOther>
            <officerTitle></officerTitle>
            <otherText></otherText>
        </reportingOwnerRelationship>
    </reportingOwner>

    <reportingOwner>
        <reportingOwnerId>
            <rptOwnerCik>0001247126</rptOwnerCik>
            <rptOwnerName>DAVIDSON KEMPNER INSTITUTIONAL PARTNERS, L.P.</rptOwnerName>
        </reportingOwnerId>
        <reportingOwnerAddress>
            <rptOwnerStreet1>C/O DAVIDSON KEMPNER ADVISERS INC.</rptOwnerStreet1>
            <rptOwnerStreet2>520 MADISON AVENUE, 30TH FLOOR</rptOwnerStreet2>
            <rptOwnerCity>NEW YORK</rptOwnerCity>
            <rptOwnerState>NY</rptOwnerState>
            <rptOwnerZipCode>10022</rptOwnerZipCode>
            <rptOwnerStateDescription></rptOwnerStateDescription>
        </reportingOwnerAddress>
        <reportingOwnerRelationship>
            <isDirector>0</isDirector>
            <isOfficer>0</isOfficer>
            <isTenPercentOwner>1</isTenPercentOwner>
            <isOther>0</isOther>
            <officerTitle></officerTitle>
            <otherText></otherText>
        </reportingOwnerRelationship>
    </reportingOwner>

    <reportingOwner>
        <reportingOwnerId>
            <rptOwnerCik>0001247125</rptOwnerCik>
            <rptOwnerName>DAVIDSON KEMPNER INTERNATIONAL, LTD.</rptOwnerName>
        </reportingOwnerId>
        <reportingOwnerAddress>
            <rptOwnerStreet1>C/O OFFSHORE INCORPORATION LTD, OFFSHORE</rptOwnerStreet1>
            <rptOwnerStreet2>INCORPORATION CENTRE, POBOX 957, RD TOWN</rptOwnerStreet2>
            <rptOwnerCity>TORTOLA</rptOwnerCity>
            <rptOwnerState>D8</rptOwnerState>
            <rptOwnerZipCode>00000</rptOwnerZipCode>
            <rptOwnerStateDescription>VIRGIN ISLANDS, BRITISH</rptOwnerStateDescription>
        </reportingOwnerAddress>
        <reportingOwnerRelationship>
            <isDirector>0</isDirector>
            <isOfficer>0</isOfficer>
            <isTenPercentOwner>1</isTenPercentOwner>
            <isOther>0</isOther>
            <officerTitle></officerTitle>
            <otherText></otherText>
        </reportingOwnerRelationship>
    </reportingOwner>

    <reportingOwner>
        <reportingOwnerId>
            <rptOwnerCik>0001325301</rptOwnerCik>
            <rptOwnerName>DAVIDSON KEMPNER DISTRESSED OPPORTUNITIES FUND LP</rptOwnerName>
        </reportingOwnerId>
        <reportingOwnerAddress>
            <rptOwnerStreet1>C/O DK GROUP LLC</rptOwnerStreet1>
            <rptOwnerStreet2>520 MADISON AVENUE, 30TH FLOOR</rptOwnerStreet2>
            <rptOwnerCity>NEW YORK</rptOwnerCity>
            <rptOwnerState>NY</rptOwnerState>
            <rptOwnerZipCode>10022</rptOwnerZipCode>
            <rptOwnerStateDescription></rptOwnerStateDescription>
        </reportingOwnerAddress>
        <reportingOwnerRelationship>
            <isDirector>0</isDirector>
            <isOfficer>0</isOfficer>
            <isTenPercentOwner>1</isTenPercentOwner>
            <isOther>0</isOther>
            <officerTitle></officerTitle>
            <otherText></otherText>
        </reportingOwnerRelationship>
    </reportingOwner>

    <reportingOwner>
        <reportingOwnerId>
            <rptOwnerCik>0001362364</rptOwnerCik>
            <rptOwnerName>DAVIDSON KEMPNER DISTRESSED OPPORTUNITIES INTERNATIONAL LTD.</rptOwnerName>
        </reportingOwnerId>
        <reportingOwnerAddress>
            <rptOwnerStreet1>C/O WALKERS CORPORATE LTD.</rptOwnerStreet1>
            <rptOwnerStreet2>CAYMAN CORP CENTRE, 27 HOSPITAL RD</rptOwnerStreet2>
            <rptOwnerCity>GEORGE TOWN</rptOwnerCity>
            <rptOwnerState>E9</rptOwnerState>
            <rptOwnerZipCode>KY1-9008</rptOwnerZipCode>
            <rptOwnerStateDescription>CAYMAN ISLANDS</rptOwnerStateDescription>
        </reportingOwnerAddress>
        <reportingOwnerRelationship>
            <isDirector>0</isDirector>
            <isOfficer>0</isOfficer>
            <isTenPercentOwner>1</isTenPercentOwner>
            <isOther>0</isOther>
            <officerTitle></officerTitle>
            <otherText></otherText>
        </reportingOwnerRelationship>
    </reportingOwner>

    <reportingOwner>
        <reportingOwnerId>
            <rptOwnerCik>0001997347</rptOwnerCik>
            <rptOwnerName>Midtown Acquisitions L.P.</rptOwnerName>
        </reportingOwnerId>
        <reportingOwnerAddress>
            <rptOwnerStreet1>520 MADISON AVENUE, 30TH FLOOR</rptOwnerStreet1>
            <rptOwnerStreet2></rptOwnerStreet2>
            <rptOwnerCity>NEW YORK</rptOwnerCity>
            <rptOwnerState>NY</rptOwnerState>
            <rptOwnerZipCode>10022</rptOwnerZipCode>
            <rptOwnerStateDescription></rptOwnerStateDescription>
        </reportingOwnerAddress>
        <reportingOwnerRelationship>
            <isDirector>0</isDirector>
            <isOfficer>0</isOfficer>
            <isTenPercentOwner>1</isTenPercentOwner>
            <isOther>0</isOther>
            <officerTitle></officerTitle>
            <otherText></otherText>
        </reportingOwnerRelationship>
    </reportingOwner>

    <reportingOwner>
        <reportingOwnerId>
            <rptOwnerCik>0001308274</rptOwnerCik>
            <rptOwnerName>YOSELOFF ANTHONY ALEXANDER</rptOwnerName>
        </reportingOwnerId>
        <reportingOwnerAddress>
            <rptOwnerStreet1>DAVIDSON KEMPNER CAPITAL MANAGEMENT LP</rptOwnerStreet1>
            <rptOwnerStreet2>520 MADISON AVENUE, 30TH FLOOR</rptOwnerStreet2>
            <rptOwnerCity>NEW YORK</rptOwnerCity>
            <rptOwnerState>NY</rptOwnerState>
            <rptOwnerZipCode>10022</rptOwnerZipCode>
            <rptOwnerStateDescription></rptOwnerStateDescription>
        </reportingOwnerAddress>
        <reportingOwnerRelationship>
            <isDirector>0</isDirector>
            <isOfficer>0</isOfficer>
            <isTenPercentOwner>1</isTenPercentOwner>
            <isOther>0</isOther>
            <officerTitle></officerTitle>
            <otherText></otherText>
        </reportingOwnerRelationship>
    </reportingOwner>

    <nonDerivativeTable>
        <nonDerivativeHolding>
            <securityTitle>
                <value>Common Stock, par value $0.01 per share</value>
            </securityTitle>
            <postTransactionAmounts>
                <sharesOwnedFollowingTransaction>
                    <value>1458118</value>
                </sharesOwnedFollowingTransaction>
            </postTransactionAmounts>
            <ownershipNature>
                <directOrIndirectOwnership>
                    <value>I</value>
                </directOrIndirectOwnership>
                <natureOfOwnership>
                    <value>See footnotes</value>
                    <footnoteId id="F1"/>
                    <footnoteId id="F2"/>
                    <footnoteId id="F3"/>
                    <footnoteId id="F4"/>
                    <footnoteId id="F5"/>
                </natureOfOwnership>
            </ownershipNature>
        </nonDerivativeHolding>
    </nonDerivativeTable>

    <footnotes>
        <footnote id="F1">The securities reported on this line are held directly by: (i) M.H. Davidson &amp; Co., a New York limited partnership (&quot;CO&quot;), (ii) Davidson Kempner Partners, a New York limited partnership (&quot;DKP&quot;), (iii) DKIP (Cayman) Ltd II, a Cayman Islands exempted company (&quot;DKIP (Cayman) II&quot;), (iv) Davidson Kempner Institutional Partners, L.P., a Delaware limited partnership (&quot;DKIP&quot;), (v) Davidson Kempner International, Ltd., a British Virgin Islands business company (&quot;DKIL&quot;), (vi) Davidson Kempner Distressed Opportunities Fund LP, a Delaware limited partnership (&quot;DKDOF&quot;), (vii) Davidson Kempner Distressed Opportunities International Ltd., a Cayman Islands exempted company (&quot;DKDOI&quot;) and (viii) Midtown Acquisitions L.P., a New York limited partnership (&quot;Midtown&quot;, together with CO, DKP, DKIP (Cayman) II, DKIP, DKIL, DKDOF, DKDOI, the &quot;DK Holders&quot;)</footnote>
        <footnote id="F2">M.H. Davidson &amp; Co. GP, L.L.C., a Delaware limited liability company (&quot;CO GP&quot;), is the general partner of CO and Davidson Kempner Liquid GP Topco LLC, a Delaware limited liability company (&quot;Liquid GP Topco&quot;), is the managing member of CO GP. MHD Management Co. LLC, a Delaware limited liability company (&quot;MHD&quot;), is the general partner of DKP and Liquid GP Topco is the managing member of MHD. DKCM (as defined below) is the investment manager of DKIP (Cayman) II. (Continued in footnote 3)</footnote>
        <footnote id="F3">(Continued from footnote 2) DKIP is the 100% equityholder of DKIP (Cayman) II. Davidson Kempner Advisers LLC, a Delaware limited liability company (&quot;DKA&quot;), is the general partner of DKIP and Liquid GP Topco is the managing member of DKA. DKCM is the investment manager of DKIL. DK Group LLC, a Delaware limited liability company (&quot;DK Group&quot;), is the general partner of DKDOF and Liquid GP Topco is the managing member of DK Group. DKCM is the investment manager of DKDOI. Midtown Acquisitions GP LLC, a Delaware limited liability company (&quot;Midtown GP&quot;), is the general partner of Midtown. Anthony A. Yoseloff serves as the Executive Managing Member of Midtown GP. Gabriel T. Schwartz and Patrick W. Dennis are Co-Deputy Executive Managing Members of Midtown GP. Joshua D. Morris, Morgan P. Blackwell, Conor Bastable and Suzanne K. Gibbons serve as Managers of Midtown GP.</footnote>
        <footnote id="F4">Davidson Kempner Capital Management LP (&quot;DKCM&quot;), a Delaware limited partnership and a registered investment adviser with the U.S. Securities and Exchange Commission (the &quot;SEC&quot;), acts as investment manager to each of the DK Holders. DKCM GP LLC, a Delaware limited liability company, is the general partner of DKCM. The managing members of DKCM are Anthony A. Yoseloff, Eric P. Epstein, Conor Bastable, Shulamit Leviant, Morgan P. Blackwell, Patrick W. Dennis, Gabriel T. Schwartz, Zachary Z. Altschuler, Joshua D. Morris and Suzanne K. Gibbons. Mr. Anthony A. Yoseloff, through DKCM, is responsible for the voting and investment decisions relating to the securities held by the DK Holders.</footnote>
        <footnote id="F5">The filing of this statement shall not be deemed an admission that any of the Reporting Persons is the beneficial owner of the securities reported herein for purposes of Section 16 of the Securities Act of 1934, as amended, or otherwise. Each of the Reporting Persons expressly disclaims beneficial ownership of the securities reported herein except to the extent of its or his pecuniary interest therein.</footnote>
    </footnotes>

    <ownerSignature>
        <signatureName>/s/ Midtown Acquisitions L.P., By: Midtown Acquisitions GP LLC, its general partner, By: Anthony A. Yoseloff, its Executive Managing Member</signatureName>
        <signatureDate>2023-10-23</signatureDate>
    </ownerSignature>

    <ownerSignature>
        <signatureName>/s/ M.H. Davidson &amp; Co., By: M.H. Davidson &amp; Co. GP, L.L.C., its general partner, By: Davidson Kempner Liquid GP Topco LLC, its managing member, By: Anthony A. Yoseloff, its Executive Managing Member</signatureName>
        <signatureDate>2023-10-23</signatureDate>
    </ownerSignature>

    <ownerSignature>
        <signatureName>/s/ Davidson Kempner Partners, By: MHD Management Co. LLC, its general partner, By: Davidson Kempner Liquid GP Topco LLC, its managing member, By: Anthony A. Yoseloff, its Executive Managing Member</signatureName>
        <signatureDate>2023-10-23</signatureDate>
    </ownerSignature>

    <ownerSignature>
        <signatureName>/s/ DKIP (Cayman) Ltd II, By: Davidson Kempner Capital Management LP, its investment manager, By: Anthony A. Yoseloff, its Executive Managing Member</signatureName>
        <signatureDate>2023-10-23</signatureDate>
    </ownerSignature>

    <ownerSignature>
        <signatureName>/s/ Davidson Kempner Institutional Partners, L.P., By: Davidson Kempner Advisers LLC, its general partner, By: Davidson Kempner Liquid GP Topco LLC, its managing member, By: Anthony A. Yoseloff, its Executive Managing Member</signatureName>
        <signatureDate>2023-10-23</signatureDate>
    </ownerSignature>

    <ownerSignature>
        <signatureName>/s/ Davidson Kempner International, Ltd., By: Davidson Kempner Capital Management LP, its investment manager, By: Anthony A. Yoseloff, its Executive Managing Member</signatureName>
        <signatureDate>2023-10-23</signatureDate>
    </ownerSignature>

    <ownerSignature>
        <signatureName>/s/ Davidson Kempner Distressed Opportunities Fund LP, By: DK Group LLC, its general partner, By: Davidson Kempner Liquid GP Topco LLC, its managing member, By: Anthony A. Yoseloff, its Executive Managing Member</signatureName>
        <signatureDate>2023-10-23</signatureDate>
    </ownerSignature>

    <ownerSignature>
        <signatureName>/s/ Davidson Kempner Distressed Opportunities International Ltd., By: Davidson Kempner Capital Management LP, its investment manager, By: Anthony A. Yoseloff, its Executive Managing Member</signatureName>
        <signatureDate>2023-10-23</signatureDate>
    </ownerSignature>

    <ownerSignature>
        <signatureName>/s/ Davidson Kempner Capital Management LP, By: Anthony A. Yoseloff, its Executive Managing Member</signatureName>
        <signatureDate>2023-10-23</signatureDate>
    </ownerSignature>

    <ownerSignature>
        <signatureName>/s/ Anthony A. Yoseloff</signatureName>
        <signatureDate>2023-10-23</signatureDate>
    </ownerSignature>
</ownershipDocument>
