Par Capital Management INC 13F holdings
Par Capital Management INC reported 45 positions with a total reported value of $4.0B as of 2026-06-30, in its 13F for Q2 2026, filed 2026-08-14. Top holdings by reported value: UNITED AIRLS HLDGS INC (18.1%), SYF SYNCHRONY FINANCIAL (14.4%), EXPE EXPEDIA GROUP INC (12.0%), DAL DELTA AIR LINES INC (8.1%), WEX WEX INC (7.9%). Against 2026-03-31 it opened 8 new positions and exited 8. Next 13F due by 2026-11-14, the legal deadline 45 days after the quarter ending 2026-09-30.
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Top holdings
25 largest of 45 positions · reported value as of 2026-06-30
| Holding | Shares | Reported value | % of portfolio |
|---|---|---|---|
| UNITED AIRLS HLDGS INC | 5,359,741 | $728.9M | 18.1% |
| SYF SYNCHRONY FINANCIAL | 7,612,137 | $578.9M | 14.4% |
| EXPE EXPEDIA GROUP INC | 1,895,847 | $485.1M | 12.0% |
| DAL DELTA AIR LINES INC | 3,482,745 | $326.2M | 8.1% |
| WEX WEX INC | 2,254,984 | $318.2M | 7.9% |
| UBER UBER TECHNOLOGIES INC | 4,217,700 | $304.3M | 7.6% |
| SOUTHWEST AIRLS CO | 4,905,756 | $252.3M | 6.3% |
| BKNG BOOKING HOLDINGS INC | 992,100 | $176.8M | 4.4% |
| CVNA CARVANA CO | 1,739,360 | $114.5M | 2.8% |
| ABNB AIRBNB INC | 750,000 | $107.3M | 2.7% |
| ALGT ALLEGIANT TRAVEL CO | 844,632 | $99.3M | 2.5% |
| ALK ALASKA AIR GROUP INC | 1,579,636 | $82.5M | 2.0% |
| H HYATT HOTELS CORP | 338,500 | $65.6M | 1.6% |
| TRIP TRIPADVISOR INC | 4,072,054 | $55.8M | 1.4% |
| V VISA INC | 127,600 | $43.8M | 1.1% |
| META META PLATFORMS INC | 54,983 | $31.0M | 0.8% |
| ZG ZILLOW GROUP INC | 823,000 | $25.9M | 0.6% |
| TRVG TRIVAGO N V | 4,292,733 | $23.5M | 0.6% |
| LYFT LYFT INC | 1,605,000 | $23.4M | 0.6% |
| JBLU JETBLUE AIRWAYS CORP | 4,000,000 | $22.9M | 0.6% |
| SCHW SCHWAB CHARLES CORP | 245,000 | $22.6M | 0.6% |
| RYAAY RYANAIR HOLDINGS PLC | 340,000 | $22.0M | 0.5% |
| AERO GRUPO AEROMEXICO SAB DE CV | 1,189,824 | $21.4M | 0.5% |
| AAL AMERICAN AIRLINES GROUP INC | 1,000,000 | $18.1M | 0.4% |
| MA MASTERCARD INCORPORATED | 30,000 | $15.4M | 0.4% |
SEC FORM 13F · Q2 2026 · VALUES AS REPORTED, NOT PRICES
New positions this quarter
Held at 2026-06-30, not at 2026-03-31 · 8 in all · reported value as of 2026-06-30
| Holding | Shares | Reported value | % of portfolio |
|---|---|---|---|
| META META PLATFORMS INC | 54,983 | $31.0M | 0.8% |
| ZG ZILLOW GROUP INC | 823,000 | $25.9M | 0.6% |
| AERO GRUPO AEROMEXICO SAB DE CV | 1,189,824 | $21.4M | 0.5% |
| MA MASTERCARD INCORPORATED | 30,000 | $15.4M | 0.4% |
| FLEX FLEX LTD | 9,910 | $1.6M | <0.1% |
| EBAY EBAY INC. | 8,000 | $894.0K | <0.1% |
| AFRM AFFIRM HLDGS INC | 4,000 | $326.2K | <0.1% |
| PNC FINL SVCS GROUP INC | 1,000 | $246.2K | <0.1% |
Sold out
Held at 2026-03-31, gone by 2026-06-30 · 8 in all · reported value as of 2026-03-31
| Holding | Shares 2026-03-31 | Reported value | % of portfolio then |
|---|---|---|---|
| CAR AVIS BUDGET GROUP INC | 200,000 | $29.2M | 0.8% |
| SUN CTRY AIRLS HLDGS INC | 1,467,800 | $24.2M | 0.7% |
| GBTG GLOBAL BUSINESS TRAVEL GROUP | 1,686,634 | $9.4M | 0.3% |
| LTM LATAM AIRLINES GROUP SA | 165,000 | $8.2M | 0.2% |
| ULCC FRONTIER GROUP HLDGS INC | 2,131,100 | $7.5M | 0.2% |
| WEBSTER FINL CORP | 50,000 | $3.5M | 0.1% |
| PINS PINTEREST INC | 31,825 | $583.7K | <0.1% |
| SNAP SNAP INC | 110,693 | $509.2K | <0.1% |
Biggest increases and decreases
Positions held at both quarter ends, by change in shares · reported value as of 2026-06-30
Increases
| Holding | Shares 2026-03-31 | Shares 2026-06-30 | Change | Reported value |
|---|---|---|---|---|
| BKNG BOOKING HOLDINGS INC | 42,573 | 992,100 | +2,230.4% | $176.8M |
| CVNA CARVANA CO | 347,872 | 1,739,360 | +400.0% | $114.5M |
| UNITED AIRLS HLDGS INC | 4,996,850 | 5,359,741 | +7.3% | $728.9M |
| UBER UBER TECHNOLOGIES INC | 3,736,973 | 4,217,700 | +12.9% | $304.3M |
| V VISA INC | 80,000 | 127,600 | +59.5% | $43.8M |
| ZM ZOOM COMMUNICATIONS INC | 6,000 | 17,000 | +183.3% | $1.5M |
| TRVG TRIVAGO N V | 4,193,114 | 4,292,733 | +2.4% | $23.5M |
| ABNB AIRBNB INC | 747,500 | 750,000 | +0.3% | $107.3M |
| CITIZENS FINL GROUP INC | 16,000 | 20,000 | +25.0% | $1.4M |
Decreases
| Holding | Shares 2026-03-31 | Shares 2026-06-30 | Change | Reported value |
|---|---|---|---|---|
| SKYW SKYWEST INC | 357,923 | 54,881 | -84.7% | $5.5M |
| LYFT LYFT INC | 3,130,000 | 1,605,000 | -48.7% | $23.4M |
| CPA COPA HOLDINGS SA | 157,197 | 20,115 | -87.2% | $3.1M |
| MARRIOTT INTL INC NEW | 90,000 | 40,000 | -55.6% | $14.8M |
| SOUTHWEST AIRLS CO | 5,219,192 | 4,905,756 | -6.0% | $252.3M |
| EXPE EXPEDIA GROUP INC | 1,952,120 | 1,895,847 | -2.9% | $485.1M |
| BILL BILL HOLDINGS INC | 400,000 | 200,000 | -50.0% | $7.2M |
| AAL AMERICAN AIRLINES GROUP INC | 1,250,000 | 1,000,000 | -20.0% | $18.1M |
| GOOGL ALPHABET INC | 35,600 | 25,200 | -29.2% | $8.9M |
| DAL DELTA AIR LINES INC | 3,514,445 | 3,482,745 | -0.9% | $326.2M |
| JBLU JETBLUE AIRWAYS CORP | 4,457,425 | 4,000,000 | -10.3% | $22.9M |
| HTZ HERTZ GLOBAL HLDGS INC | 1,400,000 | 911,001 | -34.9% | $2.1M |
CIK 1051359 · 13F FILINGS ON EDGAR · INFORMATIONAL ONLY
