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Q2 2026 13F · SEC CIK 1051359

Par Capital Management Inc

Hedge fundFiled 2026-08-14 for Q2 2026. Open the filing ↗ · All SEC filings ↗

Reported 13F value
$4.0B
Reported positions
45
Top holdings a year, 3 yrs
+24.9%
Assets under management
$1.5B

Par Capital Management Inc is a hedge fund that reported 45 positions worth $4.0B in its Q2 2026 13F, filed 2026-08-14. Its largest holdings were United Airls Hldgs Inc (UAL, 18.1%), Synchrony Financial (SYF, 14.4%), Expedia Group Inc (EXPE, 12.0%). A portfolio copying its top holdings returned 24.9% a year over the last 3 years, against 20.4% for the S&P 500.

Par Capital Management Inc holdings all 45 positions.

Weights are shares of the filer's total reported 13F value, compared with Q1 2026. Share changes may reflect splits; weight changes also reflect price moves. A 13F shows long US-listed positions only, up to 135 days after the fact.

Par Capital Management Inc 13F holdings
Stock% of 13F valueShare changeReported value
UALUnited Airls Hldgs Inc18.1%+7.3%$728.9M
SYFSynchrony Financial14.4%+0.0%$578.9M
EXPEExpedia Group Inc12.0%-2.9%$485.1M
DALDelta Air Lines Inc8.1%-0.9%$326.2M
WEXWex Inc7.9%+0.0%$318.2M
UBERUber Technologies Inc7.6%+12.9%$304.3M
LUVSouthwest Airls Co6.3%-6.0%$252.3M
BKNGBooking Holdings Inc4.4%+2230.4%$176.8M
CVNACarvana Co2.8%+400.0%$114.5M
ABNBAirbnb Inc2.7%+0.3%$107.3M
ALGTAllegiant Travel2.5%-0.2%$99.3M
ALKAlaska Air Group Inc2.0%-0.1%$82.5M
HHyatt Hotels Corp1.6%+0.0%$65.6M
TRIPTripadvisor Inc1.4%+0.0%$55.8M
VVisa Inc1.1%+59.5%$43.8M
METAMeta Platforms Inc0.8%—$31.0M
ZZillow Group Inc0.6%—$25.9M
TRVGTrivago N V0.6%+2.4%$23.5M
LYFTLyft Inc0.6%-48.7%$23.4M
JBLUJetblue Airways Corp0.6%-10.3%$22.9M
SCHWCharles Schwab Corp (the)0.6%-3.3%$22.6M
RYAAYRyanair Holdings PLC Sponsored0.5%-1.4%$22.0M
AEROGrupo Aeromexico Sab de Cv0.5%—$21.4M
AALAmerican Airlines Group Inc0.4%-20.0%$18.1M
MAMastercard Incorporated0.4%—$15.4M
MARMarriott Intl Inc New0.4%-55.6%$14.8M
RJETRepublic Airways0.3%+0.0%$10.6M
GOOGAlphabet Inc0.2%-29.2%$8.9M
BILLBill Holdings Inc0.2%-50.0%$7.2M
SKYWSkywest Inc0.1%-84.7%$5.5M
CPACopa Holdings SA0.1%-87.2%$3.1M
CARSCars.com Inc0.1%+0.0%$2.7M
HTZHertz Global Hldgs Inc0.1%-34.9%$2.1M
FLEXFlex Ltd Ord0.0%—$1.6M
ZMZoom Communications Inc0.0%+183.3%$1.5M
CFGCitizens Finl Group Inc0.0%+25.0%$1.4M
CCitigroup Inc0.0%+0.0%$1.4M
CARTMaplebear Inc0.0%+0.0%$963K
EBAYEbay Inc.0.0%—$894K
TCOMTrip Com Group Ltd0.0%+0.0%$539K
TFCTruist Finl Corp0.0%-33.3%$498K
CARGCargurus Inc0.0%+0.0%$354K
AFRMAffirm Hldgs Inc0.0%—$326K
PNCPnc Finl Svcs Group Inc0.0%—$246K
NXTNextpower Inc0.0%+0.0%$206K

What Par Capital Management Inc bought and sold in Q2 2026, against Q1 2026.

Share counts compared with the Q1 2026 13F; a split also changes share counts.

How the holdings did against the S&P 500.

1 year
+20.6% /yr
S&P 500 +20.1%
3 years
+24.9% /yr
S&P 500 +20.4%
5 years
+10.2% /yr
S&P 500 +11.6%

A portfolio of the filer's 20 largest 13F positions, weighted by value, bought the trading day after each 13F was filed and held until the next one was: what copying this filer could have earned. 13Fs show long US-listed positions only, so this is an estimate of the stock picks, not the fund's reported returns.

Reported 13F value by quarter.

13F value by quarter
Quarter13F valuePositions
Q2 2026$4.0B45
Q1 2026$3.4B45
Q4 2025$3.8B48
Q3 2025$3.4B57
Q2 2025$3.1B53
Q1 2025$3.0B46
Q4 2024$3.4B57
Q3 2024$3.5B56
Q2 2024$3.2B50
Q1 2024$3.2B47
Q4 2023$3.0B42
Q3 2023$2.7B47

Questions about Par Capital Management Inc's portfolio

What stocks does Par Capital Management Inc own?

Par Capital Management Inc's latest 13F, for Q2 2026 and filed Aug 14, 2026, lists 45 positions worth $4.0B. The largest are United Airls Hldgs Inc (UAL) at 18.1%, Synchrony Financial (SYF) at 14.4%, Expedia Group Inc (EXPE) at 12.0%, Delta Air Lines Inc (DAL) at 8.1% and Wex Inc (WEX) at 7.9%.

What did Par Capital Management Inc buy last quarter?

In Q2 2026, Par Capital Management Inc added a new position in Meta Platforms Inc (META), a new position in Zillow Group Inc (Z), a new position in Grupo Aeromexico Sab de Cv (AERO), a new position in Mastercard Incorporated (MA), a new position in Flex Ltd Ord (FLEX), Booking Holdings Inc (BKNG) (+2230.4% shares), Carvana Co (CVNA) (+400.0% shares) and Zoom Communications Inc (ZM) (+183.3% shares), compared with its Q1 2026 filing.

What did Par Capital Management Inc sell last quarter?

In Q2 2026, Par Capital Management Inc sold all of Avis Budget Group (CAR), sold all of Sun Country Airlines Holding (SNCY), sold all of Global Business Travel Group (GBTG), sold all of Latam Airlines G (LTM), sold all of Frontier Group Hldgs Inc (ULCC), Copa Holdings SA (CPA) (-87.2% shares), Skywest Inc (SKYW) (-84.7% shares) and Marriott Intl Inc New (MAR) (-55.6% shares), compared with its Q1 2026 filing.

How has Par Capital Management Inc's portfolio performed?

A portfolio copying Par Capital Management Inc's 20 largest 13F holdings each quarter, from the day each filing was public, returned +24.9% a year over the last 3 years, against +20.4% for the S&P 500. Over 1 year: +20.6% against +20.1%. Over 5 years: +10.2% a year against +11.6%.

When is Par Capital Management Inc's next 13F filing due?

13F filings are due 45 days after each quarter ends. Par Capital Management Inc's filing for the quarter ending Sep 30, 2026 is due by Nov 14, 2026; this page updates the day after it is published.

How much money does Par Capital Management Inc manage?

Par Capital Management Inc reported $1.5B of regulatory assets under management on its latest SEC Form ADV. Its 13F, which covers only US-listed stocks and options, totals $4.0B.