Q2 2025 · 13F-HR
PAR CAPITAL MANAGEMENT INCholdings as filed
Filed 2025-08-14 · accession 0001051359-25-000009
$3.07B
Reported value
57
Positions
2025-06-30
Period end
The Brief · PAR CAPITAL MANAGEMENT INC · Q2 2025
AI · grounded in 13F
PAR CAPITAL MANAGEMENT INC established a new position in Synchrony Financial SYF valued at $500.55M. The fund also initiated new stakes in United Airls Hldgs Inc UAL for $407.53M and Expedia Group Inc EXPE for $402.77M. Other new additions include WEX Inc WEX at $271.91M and Booking Holdings Inc BKNG at $218.98M.
Holdings as filed
| CUSIP | Ticker | Issuer | Value | % port. | Shares | Class | Voting |
|---|---|---|---|---|---|---|---|
| 87165B103 | SYF | SYNCHRONY FINANCIAL | $500.6M | 16.3% | 7,500,000 | Common | SOLE |
| 30212P303 | EXPE | EXPEDIA GROUP INC | $402.8M | 13.1% | 2,387,750 | Common | SOLE |
| 910047109 | UAL | UNITED AIRLS HLDGS INC | $395.7M | 12.9% | 4,968,850 | Common | SOLE |
| 96208T104 | WEX | WEX INC | $271.9M | 8.85% | 1,851,100 | Common | SOLE |
| 09857L108 | BKNG | BOOKING HOLDINGS INC | $219.0M | 7.13% | 37,826 | Common | SOLE |
| 844741108 | LUV | SOUTHWEST AIRLS CO | $192.0M | 6.25% | 5,917,492 | Common | SOLE |
| 247361702 | DAL | DELTA AIR LINES INC DEL | $175.3M | 5.71% | 3,564,000 | Common | SOLE |
| 146869102 | CVNA | CARVANA CO | $157.4M | 5.13% | 467,172 | Common | SOLE |
| 808513105 | SCHW | SCHWAB CHARLES CORP | $82.9M | 2.70% | 909,000 | Common | SOLE |
| 78573M104 | SABR | SABRE CORP | $61.1M | 1.99% | 19,350,000 | Common | SOLE |
| 011659109 | ALK | ALASKA AIR GROUP INC | $55.4M | 1.80% | 1,119,302 | Common | SOLE |
| 053774105 | CAR | AVIS BUDGET GROUP | $54.1M | 1.76% | 320,000 | Common | SOLE |
| 448579102 | H | HYATT HOTELS CORP | $51.8M | 1.69% | 371,261 | Common | SOLE |
| 947890109 | WBS | WEBSTER FINL CORP | $41.0M | 1.33% | 750,000 | Common | SOLE |
| 896945201 | TRIP | TRIPADVISOR INC | $37.8M | 1.23% | 2,896,475 | Common | SOLE |
| 830879102 | SKYW | SKYWEST INC | $37.4M | 1.22% | 363,451 | Common | SOLE |
| 571903202 | MAR | MARRIOTT INTL INC NEW | $37.2M | 1.21% | 136,100 | Common | SOLE |
| 05368X102 | AVDX | AVIDXCHANGE HOLDINGS INC | $32.3M | 1.05% | 3,300,000 | Common | SOLE |
| 01748X102 | ALGT | ALLEGIANT TRAVEL CO | $32.1M | 1.05% | 584,996 | Common | SOLE |
| 55087P104 | LYFT | LYFT INC | $30.0M | 0.98% | 1,905,000 | Common | SOLE |
| 477143101 | JBLU | JETBLUE AWYS CORP | $23.2M | 0.76% | 5,487,425 | Common | SOLE |
| 866683105 | SNCY | SUN CTRY AIRLS HLDGS INC | $23.0M | 0.75% | 1,959,372 | Common | SOLE |
| 783513203 | RYAAY | RYANAIR HOLDINGS PLC | $19.9M | 0.65% | 345,000 | Common | SOLE |
| 42806J700 | HTZ | HERTZ GLOBAL HLDGS INC | $15.6M | 0.51% | 2,291,357 | Common | SOLE |
| 14575E105 | CARS | CARS COM INC | $14.2M | 0.46% | 1,200,000 | Common | SOLE |
| 02376R102 | AAL | AMERICAN AIRLS GROUP INC | $14.0M | 0.46% | 1,250,000 | Common | SOLE |
| 89686D303 | TRVG | TRIVAGO N V | $13.5M | 0.44% | 3,576,869 | Common | SOLE |
| 910047109 | UAL | UNITED AIRLS HLDGS INC | $11.9M | 0.39% | 149,000 | PUT | SOLE |
| 141788109 | CARG | CARGURUS INC | $11.3M | 0.37% | 336,791 | Common | SOLE |
| 35909R108 | ULCC | FRONTIER GROUP HLDGS INC | $7.9M | 0.26% | 2,181,100 | Common | SOLE |
| 51817R205 | LTM | LATAM AIRLINES GROUP SA | $6.7M | 0.22% | 165,000 | Common | SOLE |
| 37890B100 | GBTG | GLOBAL BUSINESS TRAVEL GROUP | $6.5M | 0.21% | 1,024,014 | Common | SOLE |
| 02079K107 | GOOG | ALPHABET INC | $6.2M | 0.20% | 34,900 | Common | SOLE |
| P31076105 | CPA | COPA HOLDINGS SA | $5.8M | 0.19% | 53,000 | Common | SOLE |
| 565394103 | CART | MAPLEBEAR INC | $4.1M | 0.13% | 91,500 | Common | SOLE |
| 064058100 | BK | BANK NEW YORK MELLON CORP | $2.4M | 0.08% | 26,364 | Common | SOLE |
| 98311A105 | WH | WYNDHAM HOTELS & RESORTS INC | $2.2M | 0.07% | 27,000 | Common | SOLE |
| 590479135 | — | MESA AIR GROUP INC | $2.1M | 0.07% | 2,248,190 | Common | SOLE |
| 023135106 | AMZN | AMAZON COM INC | $1.4M | 0.05% | 6,300 | Common | SOLE |
| 92826C839 | V | VISA INC | $1.0M | 0.03% | 2,840 | Common | SOLE |
| 83406F102 | SOFI | SOFI TECHNOLOGIES INC | $1.0M | 0.03% | 55,000 | Common | SOLE |
| 25809K105 | DASH | DOORDASH INC | $986,040 | 0.03% | 4,000 | Common | SOLE |
| 146869102 | CVNA | CARVANA CO | $943,488 | 0.03% | 2,800 | PUT | SOLE |
| 172967424 | C | CITIGROUP INC | $851,200 | 0.03% | 10,000 | Common | SOLE |
| 172967424 | C | CITIGROUP INC | $851,200 | 0.03% | 10,000 | PUT | SOLE |
| G4124C109 | GRAB | GRAB HOLDINGS LIMITED | $809,830 | 0.03% | 161,000 | Common | SOLE |
| 060505104 | BAC | BANK AMERICA CORP | $790,244 | 0.03% | 16,700 | Common | SOLE |
| 72352L106 | PINS | PINTEREST INC | $537,900 | 0.02% | 15,000 | Common | SOLE |
| 57636Q104 | MA | MASTERCARD INCORPORATED | $505,746 | 0.02% | 900 | Common | SOLE |
| 83406F102 | SOFI | SOFI TECHNOLOGIES INC | $500,775 | 0.02% | 27,500 | PUT | SOLE |
| Y2573F102 | FLEX | FLEX LTD | $494,707 | 0.02% | 9,910 | Common | SOLE |
| 30303M102 | META | META PLATFORMS INC | $487,139 | 0.02% | 660 | Common | SOLE |
| 94419L101 | W | WAYFAIR INC | $460,260 | 0.01% | 9,000 | Common | SOLE |
| 784117103 | SEIC | SEI INVTS CO | $314,510 | 0.01% | 3,500 | Common | SOLE |
| 009066101 | ABNB | AIRBNB INC | $238,212 | 0.01% | 1,800 | Common | SOLE |
| 98954M200 | Z | ZILLOW GROUP INC | $224,160 | 0.01% | 3,200 | Common | SOLE |
| 29975E109 | EB4 | EVENTBRITE INC | $81,530 | 0.00% | 31,000 | Common | SOLE |
Source: SEC EDGAR · raw 13F holdings as filed. The Class column shows the option type when reported (Put/Call) or Common when the issuer's equity is held directly. 13F discloses long positions only.