Filed: 11/14/2025ACC: 0001051359-25-000011
📋 What this filing means
PAR CAPITAL MANAGEMENT INC filed this quarterly 13F‑HR report disclosing 57 equity positions with a total reported market value of $3.42B. This filing provides a transparent view of the manager's long equity holdings as of the quarter end.
57
Positions
$3.42B
Total AUM (reported)
64.62M
Total Shares
Allocation by class
COM$2.30B67.4%
COM NEW$693.04M20.3%
CL A$190.10M5.6%
COM CL A$97.95M2.9%
CL A COM$71.63M2.1%
SPONSORED ADR$28.24M0.8%
CAP STK CL C$16.88M0.5%
Portfolio Concentration
Top 3$1.50B43.8%
4–10$1.17B34.1%
11–25$594.02M17.4%
Rest$158.43M4.6%
Top 3 weight
43.8%
Top 10 weight
78.0%
Voting Authority Distribution
Total shares with voting rights: 64.62M
Sole
Full voting authority
64.62M
shares
% of voting shares100.0%
Shared
Joint voting authority
0.00
shares
% of voting shares0.0%
None
No voting authority
0.00
shares
% of voting shares0.0%
Investment Discretion (by position count)
Sole57
Shared0
Other0
Dominant voting typeSole · 100.0% of voting shares
Institutional Holdings57
Rows:
SYNCHRONY FINANCIAL
SOLEShares7.50M
TypeSH
Market value$532.88M
15.60%
Sole
7.50M
Shared
0.00
None
0.00
UNITED AIRLS HLDGS INC
SOLEShares5.12M
TypeSH
Market value$493.87M
14.46%
Sole
5.12M
Shared
0.00
None
0.00
EXPEDIA GROUP INC
SOLEShares2.20M
TypeSH
Market value$470.25M
13.77%
Sole
2.20M
Shared
0.00
None
0.00
WEX INC
SOLEShares1.85M
TypeSH
Market value$291.67M
8.54%
Sole
1.85M
Shared
0.00
None
0.00
DELTA AIR LINES INC DEL
SOLEShares3.57M
TypeSH
Market value$202.84M
5.94%
Sole
3.57M
Shared
0.00
None
0.00
BOOKING HOLDINGS INC
SOLEShares35.05K
TypeSH
Market value$189.24M
5.54%
Sole
35.05K
Shared
0.00
None
0.00
SOUTHWEST AIRLS CO
SOLEShares4.95M
TypeSH
Market value$157.96M
4.63%
Sole
4.95M
Shared
0.00
None
0.00
CARVANA CO
SOLEShares357.77K
TypeSH
Market value$134.97M
3.95%
Sole
357.77K
Shared
0.00
None
0.00
BILL HOLDINGS INC
SOLEShares1.93M
TypeSH
Market value$101.97M
2.99%
Sole
1.93M
Shared
0.00
None
0.00
SCHWAB CHARLES CORP
SOLEShares914K
TypeSH
Market value$87.26M
2.55%
Sole
914K
Shared
0.00
None
0.00
LYFT INC
SOLEShares3.25M
TypeSH
Market value$71.63M
2.10%
Sole
3.25M
Shared
0.00
None
0.00
UBER TECHNOLOGIES INC
SOLEShares654K
TypeSH
Market value$64.07M
1.88%
Sole
654K
Shared
0.00
None
0.00
ALASKA AIR GROUP INC
SOLEShares1.12M
TypeSH
Market value$55.72M
1.63%
Sole
1.12M
Shared
0.00
None
0.00
HYATT HOTELS CORP
SOLEShares371.30K
TypeSH
Market value$52.70M
1.54%
Sole
371.30K
Shared
0.00
None
0.00
WEBSTER FINL CORP
SOLEShares750K
TypeSH
Market value$44.58M
1.31%
Sole
750K
Shared
0.00
None
0.00
ALLEGIANT TRAVEL CO
SOLEShares624.08K
TypeSH
Market value$37.93M
1.11%
Sole
624.08K
Shared
0.00
None
0.00
SKYWEST INC
SOLEShares359.88K
TypeSH
Market value$36.21M
1.06%
Sole
359.88K
Shared
0.00
None
0.00
MARRIOTT INTL INC NEW
SOLEShares136.10K
TypeSH
Market value$35.45M
1.04%
Sole
136.10K
Shared
0.00
None
0.00
AVIDXCHANGE HOLDINGS INC
SOLEShares3.30M
TypeSH
Market value$32.83M
0.96%
Sole
3.30M
Shared
0.00
None
0.00
TRIPADVISOR INC
SOLEShares2M
TypeSH
Market value$32.52M
0.95%
Sole
2M
Shared
0.00
None
0.00
AVIS BUDGET GROUP
SOLEShares200K
TypeSH
Market value$32.12M
0.94%
Sole
200K
Shared
0.00
None
0.00
AIRBNB INC
SOLEShares219.30K
TypeSH
Market value$26.63M
0.78%
Sole
219.30K
Shared
0.00
None
0.00
CARS COM INC
SOLEShares2.06M
TypeSH
Market value$25.16M
0.74%
Sole
2.06M
Shared
0.00
None
0.00
SUN CTRY AIRLS HLDGS INC
SOLEShares2.07M
TypeSH
Market value$24.41M
0.71%
Sole
2.07M
Shared
0.00
None
0.00
JETBLUE AWYS CORP
SOLEShares4.49M
TypeSH
Market value$22.08M
0.65%
Sole
4.49M
Shared
0.00
None
0.00
| Issuer | Class | Shares | Type | Value / Portfolio % | Voting — Sole | Shared | None |
|---|---|---|---|---|---|---|---|
SYNCHRONY FINANCIALSOLE | COM | 7.50M | SH | $532.88M 15.60% | 7.50M | 0.00 | 0.00 |
UNITED AIRLS HLDGS INCSOLE | COM | 5.12M | SH | $493.87M 14.46% | 5.12M | 0.00 | 0.00 |
EXPEDIA GROUP INCSOLE | COM NEW | 2.20M | SH | $470.25M 13.77% | 2.20M | 0.00 | 0.00 |
WEX INCSOLE | COM | 1.85M | SH | $291.67M 8.54% | 1.85M | 0.00 | 0.00 |
DELTA AIR LINES INC DELSOLE | COM NEW | 3.57M | SH | $202.84M 5.94% | 3.57M | 0.00 | 0.00 |
BOOKING HOLDINGS INCSOLE | COM | 35.05K | SH | $189.24M 5.54% | 35.05K | 0.00 | 0.00 |
SOUTHWEST AIRLS COSOLE | COM | 4.95M | SH | $157.96M 4.63% | 4.95M | 0.00 | 0.00 |
CARVANA COSOLE | CL A | 357.77K | SH | $134.97M 3.95% | 357.77K | 0.00 | 0.00 |
BILL HOLDINGS INCSOLE | COM | 1.93M | SH | $101.97M 2.99% | 1.93M | 0.00 | 0.00 |
SCHWAB CHARLES CORPSOLE | COM | 914K | SH | $87.26M 2.55% | 914K | 0.00 | 0.00 |
LYFT INCSOLE | CL A COM | 3.25M | SH | $71.63M 2.10% | 3.25M | 0.00 | 0.00 |
UBER TECHNOLOGIES INCSOLE | COM | 654K | SH | $64.07M 1.88% | 654K | 0.00 | 0.00 |
ALASKA AIR GROUP INCSOLE | COM | 1.12M | SH | $55.72M 1.63% | 1.12M | 0.00 | 0.00 |
HYATT HOTELS CORPSOLE | COM CL A | 371.30K | SH | $52.70M 1.54% | 371.30K | 0.00 | 0.00 |
WEBSTER FINL CORPSOLE | COM | 750K | SH | $44.58M 1.31% | 750K | 0.00 | 0.00 |
ALLEGIANT TRAVEL COSOLE | COM | 624.08K | SH | $37.93M 1.11% | 624.08K | 0.00 | 0.00 |
SKYWEST INCSOLE | COM | 359.88K | SH | $36.21M 1.06% | 359.88K | 0.00 | 0.00 |
MARRIOTT INTL INC NEWSOLE | CL A | 136.10K | SH | $35.45M 1.04% | 136.10K | 0.00 | 0.00 |
AVIDXCHANGE HOLDINGS INCSOLE | COM | 3.30M | SH | $32.83M 0.96% | 3.30M | 0.00 | 0.00 |
TRIPADVISOR INCSOLE | COM | 2M | SH | $32.52M 0.95% | 2M | 0.00 | 0.00 |
AVIS BUDGET GROUPSOLE | COM | 200K | SH | $32.12M 0.94% | 200K | 0.00 | 0.00 |
AIRBNB INCSOLE | COM CL A | 219.30K | SH | $26.63M 0.78% | 219.30K | 0.00 | 0.00 |
CARS COM INCSOLE | COM | 2.06M | SH | $25.16M 0.74% | 2.06M | 0.00 | 0.00 |
SUN CTRY AIRLS HLDGS INCSOLE | COM | 2.07M | SH | $24.41M 0.71% | 2.07M | 0.00 | 0.00 |
JETBLUE AWYS CORPSOLE | COM | 4.49M | SH | $22.08M 0.65% | 4.49M | 0.00 | 0.00 |
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