Filed: 2/17/2026ACC: 0001051359-26-000003
📋 What this filing means
PAR CAPITAL MANAGEMENT INC filed this quarterly 13F‑HR report disclosing 48 equity positions with a total reported market value of $3.78B. This filing provides a transparent view of the manager's long equity holdings as of the quarter end.
48
Positions
$3.78B
Total AUM (reported)
71.84M
Total Shares
Allocation by class
COM$2.42B64.1%
COM NEW$810.84M21.4%
CL A$212.14M5.6%
COM CL A$173.85M4.6%
CL A COM$60.82M1.6%
SPONSORED ADR$33.82M0.9%
SPONSORED ADS$30.42M0.8%
Portfolio Concentration
Top 3$1.73B45.6%
4–10$1.26B33.3%
11–25$651.50M17.2%
Rest$147.98M3.9%
Top 3 weight
45.6%
Top 10 weight
78.9%
Voting Authority Distribution
Total shares with voting rights: 71.84M
Sole
Full voting authority
71.84M
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)
Sole48
Shared0
Other0
Dominant voting typeSole · 100.0% of voting shares
Institutional Holdings48
Rows:
SYNCHRONY FINANCIAL
SOLEShares7.50M
TypeSH
Market value$625.73M
16.54%
Sole
7.50M
Shared
0.00
None
0.00
EXPEDIA GROUP INC
SOLEShares1.95M
TypeSH
Market value$552.01M
14.59%
Sole
1.95M
Shared
0.00
None
0.00
UNITED AIRLS HLDGS INC
SOLEShares4.89M
TypeSH
Market value$547.34M
14.47%
Sole
4.89M
Shared
0.00
None
0.00
WEX INC
SOLEShares2.25M
TypeSH
Market value$335.50M
8.87%
Sole
2.25M
Shared
0.00
None
0.00
DELTA AIR LINES INC DEL
SOLEShares3.59M
TypeSH
Market value$249.30M
6.59%
Sole
3.59M
Shared
0.00
None
0.00
SOUTHWEST AIRLS CO
SOLEShares4.95M
TypeSH
Market value$204.59M
5.41%
Sole
4.95M
Shared
0.00
None
0.00
CARVANA CO
SOLEShares350.67K
TypeSH
Market value$147.99M
3.91%
Sole
350.67K
Shared
0.00
None
0.00
BOOKING HOLDINGS INC
SOLEShares24.49K
TypeSH
Market value$131.14M
3.47%
Sole
24.49K
Shared
0.00
None
0.00
AIRBNB INC
SOLEShares729.90K
TypeSH
Market value$99.06M
2.62%
Sole
729.90K
Shared
0.00
None
0.00
SCHWAB CHARLES CORP
SOLEShares912K
TypeSH
Market value$91.12M
2.41%
Sole
912K
Shared
0.00
None
0.00
UBER TECHNOLOGIES INC
SOLEShares995.20K
TypeSH
Market value$81.32M
2.15%
Sole
995.20K
Shared
0.00
None
0.00
ALASKA AIR GROUP INC
SOLEShares1.58M
TypeSH
Market value$79.55M
2.10%
Sole
1.58M
Shared
0.00
None
0.00
LYFT INC
SOLEShares3.14M
TypeSH
Market value$60.82M
1.61%
Sole
3.14M
Shared
0.00
None
0.00
HYATT HOTELS CORP
SOLEShares338.80K
TypeSH
Market value$54.32M
1.44%
Sole
338.80K
Shared
0.00
None
0.00
ALLEGIANT TRAVEL CO
SOLEShares624.08K
TypeSH
Market value$53.22M
1.41%
Sole
624.08K
Shared
0.00
None
0.00
WEBSTER FINL CORP
SOLEShares755.50K
TypeSH
Market value$47.55M
1.26%
Sole
755.50K
Shared
0.00
None
0.00
MARRIOTT INTL INC NEW
SOLEShares134.90K
TypeSH
Market value$41.85M
1.11%
Sole
134.90K
Shared
0.00
None
0.00
SKYWEST INC
SOLEShares359.88K
TypeSH
Market value$36.14M
0.96%
Sole
359.88K
Shared
0.00
None
0.00
CARS COM INC
SOLEShares2.70M
TypeSH
Market value$32.91M
0.87%
Sole
2.70M
Shared
0.00
None
0.00
TRIPADVISOR INC
SOLEShares2.18M
TypeSH
Market value$31.75M
0.84%
Sole
2.18M
Shared
0.00
None
0.00
GRUPO AEROMEXICO SAB DE CV
SOLEShares13.85M
TypeSH
Market value$30.42M
0.80%
Sole
13.85M
Shared
0.00
None
0.00
SUN CTRY AIRLS HLDGS INC
SOLEShares2.02M
TypeSH
Market value$29.04M
0.77%
Sole
2.02M
Shared
0.00
None
0.00
AVIS BUDGET GROUP
SOLEShares200K
TypeSH
Market value$25.66M
0.68%
Sole
200K
Shared
0.00
None
0.00
RYANAIR HOLDINGS PLC
SOLEShares345K
TypeSH
Market value$24.91M
0.66%
Sole
345K
Shared
0.00
None
0.00
ALPHABET INC
SOLEShares70.30K
TypeSH
Market value$22.06M
0.58%
Sole
70.30K
Shared
0.00
None
0.00
| Issuer | Class | Shares | Type | Value / Portfolio % | Voting — Sole | Shared | None |
|---|---|---|---|---|---|---|---|
SYNCHRONY FINANCIALSOLE | COM | 7.50M | SH | $625.73M 16.54% | 7.50M | 0.00 | 0.00 |
EXPEDIA GROUP INCSOLE | COM NEW | 1.95M | SH | $552.01M 14.59% | 1.95M | 0.00 | 0.00 |
UNITED AIRLS HLDGS INCSOLE | COM | 4.89M | SH | $547.34M 14.47% | 4.89M | 0.00 | 0.00 |
WEX INCSOLE | COM | 2.25M | SH | $335.50M 8.87% | 2.25M | 0.00 | 0.00 |
DELTA AIR LINES INC DELSOLE | COM NEW | 3.59M | SH | $249.30M 6.59% | 3.59M | 0.00 | 0.00 |
SOUTHWEST AIRLS COSOLE | COM | 4.95M | SH | $204.59M 5.41% | 4.95M | 0.00 | 0.00 |
CARVANA COSOLE | CL A | 350.67K | SH | $147.99M 3.91% | 350.67K | 0.00 | 0.00 |
BOOKING HOLDINGS INCSOLE | COM | 24.49K | SH | $131.14M 3.47% | 24.49K | 0.00 | 0.00 |
AIRBNB INCSOLE | COM CL A | 729.90K | SH | $99.06M 2.62% | 729.90K | 0.00 | 0.00 |
SCHWAB CHARLES CORPSOLE | COM | 912K | SH | $91.12M 2.41% | 912K | 0.00 | 0.00 |
UBER TECHNOLOGIES INCSOLE | COM | 995.20K | SH | $81.32M 2.15% | 995.20K | 0.00 | 0.00 |
ALASKA AIR GROUP INCSOLE | COM | 1.58M | SH | $79.55M 2.10% | 1.58M | 0.00 | 0.00 |
LYFT INCSOLE | CL A COM | 3.14M | SH | $60.82M 1.61% | 3.14M | 0.00 | 0.00 |
HYATT HOTELS CORPSOLE | COM CL A | 338.80K | SH | $54.32M 1.44% | 338.80K | 0.00 | 0.00 |
ALLEGIANT TRAVEL COSOLE | COM | 624.08K | SH | $53.22M 1.41% | 624.08K | 0.00 | 0.00 |
WEBSTER FINL CORPSOLE | COM | 755.50K | SH | $47.55M 1.26% | 755.50K | 0.00 | 0.00 |
MARRIOTT INTL INC NEWSOLE | CL A | 134.90K | SH | $41.85M 1.11% | 134.90K | 0.00 | 0.00 |
SKYWEST INCSOLE | COM | 359.88K | SH | $36.14M 0.96% | 359.88K | 0.00 | 0.00 |
CARS COM INCSOLE | COM | 2.70M | SH | $32.91M 0.87% | 2.70M | 0.00 | 0.00 |
TRIPADVISOR INCSOLE | COM | 2.18M | SH | $31.75M 0.84% | 2.18M | 0.00 | 0.00 |
GRUPO AEROMEXICO SAB DE CVSOLE | SPONSORED ADS | 13.85M | SH | $30.42M 0.80% | 13.85M | 0.00 | 0.00 |
SUN CTRY AIRLS HLDGS INCSOLE | COM | 2.02M | SH | $29.04M 0.77% | 2.02M | 0.00 | 0.00 |
AVIS BUDGET GROUPSOLE | COM | 200K | SH | $25.66M 0.68% | 200K | 0.00 | 0.00 |
RYANAIR HOLDINGS PLCSOLE | SPONSORED ADR | 345K | SH | $24.91M 0.66% | 345K | 0.00 | 0.00 |
ALPHABET INCSOLE | CAP STK CL C | 70.30K | SH | $22.06M 0.58% | 70.30K | 0.00 | 0.00 |
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