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PAR CAPITAL MANAGEMENT INC
hedge fundUpdated 27 days agoManaged by Par Capital Management Inc • Latest filing Q2 2026
Portfolio value
$4B
Q2 2026
Filings
17
Quarterly 13F history
Top-10 concentration
99.9%
Weight of largest holdings
Annualized return
7.8%
Implied from 13F holdings
Portfolio value history
13F-disclosed portfolio value over 17 quarters
Show data table
| Period | Portfolio value |
|---|---|
| Q2 2022 | $3B |
| Q3 2022 | $2.7B |
| Q4 2022 | $2.8B |
| Q1 2023 | $2.7B |
| Q2 2023 | $2.9B |
| Q3 2023 | $2.7B |
| Q4 2023 | $3B |
| Q1 2024 | $3.2B |
| Q2 2024 | $3.2B |
| Q3 2024 | $3.5B |
| Q4 2024 | $3.4B |
| Q1 2025 | $3B |
| Q2 2025 | $3.1B |
| Q3 2025 | $3.4B |
| Q4 2025 | $3.8B |
| Q1 2026 | $3.5B |
| Q2 2026 | $4B |
Top holdings
48 positions as of Q2 2026
| # | Stock | Value | Shares | % Portfolio | Change |
|---|---|---|---|---|---|
| 1 | U UAL UNITED AIRLS HLDGS INC | $728.9M | 5.36M | 18.07% | Added(+7.3%) |
| 2 | S SYF-PB SYNCHRONY FINANCIAL | $578.9M | 7.61M | 14.35% | Unchanged |
| 3 | E EXPE EXPEDIA GROUP INC | $485.1M | 1.90M | 12.03% | Trimmed(-2.9%) |
| 4 | D DAL DELTA AIR LINES INC | $326.2M | 3.48M | 8.09% | Trimmed(-0.9%) |
| 5 | W WEST WEX INC | $318.2M | 2.25M | 7.89% | Unchanged |
| 6 | U UBER UBER TECHNOLOGIES INC | $304.3M | 4.22M | 7.54% | Added(+12.9%) |
| 7 | L LUV SOUTHWEST AIRLS CO | $252.3M | 4.91M | 6.25% | Trimmed(-6.0%) |
| 8 | B BKNG BOOKING HOLDINGS INC | $176.8M | 992.1K | 4.38% | Added(+2230.3%) |
| 9 | C CVNA CARVANA CO | $114.5M | 1.74M | 2.84% | Added(+400.0%) |
| 10 | A ABNB AIRBNB INC | $107.3M | 750.0K | 2.66% | Added(+0.3%) |
| 11 | A ALGT ALLEGIANT TRAVEL CO | $99.3M | 844.6K | 2.46% | Trimmed(-0.2%) |
| 12 | A ALK ALASKA AIR GROUP INC | $82.5M | 1.58M | 2.04% | Trimmed(-0.1%) |
| 13 | H H HYATT HOTELS CORP | $65.6M | 338.5K | 1.63% | Unchanged |
| 14 | T TRIP TRIPADVISOR INC | $55.8M | 4.07M | 1.38% | Unchanged |
| 15 | V V VISA INC | $43.8M | 127.6K | 1.09% | Added(+59.5%) |
| 16 | M META META PLATFORMS INC | $31M | 55.0K | 0.77% | — |
| 17 | Z Z ZILLOW GROUP INC | $25.9M | 823.0K | 0.64% | — |
| 18 | T TRVG TRIVAGO N V | $23.5M | 4.29M | 0.58% | Added(+2.4%) |
| 19 | L LYFT LYFT INC | $23.4M | 1.60M | 0.58% | Trimmed(-48.7%) |
| 20 | J JBLU JETBLUE AIRWAYS CORP | $22.9M | 4.00M | 0.57% | Trimmed(-10.3%) |