PAR CAPITAL MANAGEMENT INC Q2 2025 Filing
Filed August 14, 2025
Portfolio Value
$3.1T
Holdings
53
Report Date
Q2 2025
Filing Type
13F-HR
All Holdings (53 positions)
| # | Stock | Shares | Value | % Portfolio | Type |
|---|---|---|---|---|---|
| 1 | SYFSYNCHRONY FINANCIAL | 7,500,000 | $500.6B | 16.30% | |
| 2 | UALUNITED AIRLS HLDGS INC | 5,117,850 | $407.5B | 13.27% | Put |
| 3 | EXPEEXPEDIA GROUP INC | 2,387,750 | $402.8B | 13.12% | |
| 4 | WEXWEX INC | 1,851,100 | $271.9B | 8.85% | |
| 5 | BKNGBOOKING HOLDINGS INC | 37,826 | $219.0B | 7.13% | |
| 6 | LUVSOUTHWEST AIRLS CO | 5,917,492 | $192.0B | 6.25% | |
| 7 | DALDELTA AIR LINES INC DEL | 3,564,000 | $175.3B | 5.71% | |
| 8 | CVNACARVANA CO | 469,972 | $158.4B | 5.16% | Put |
| 9 | SCHWSCHWAB CHARLES CORP | 909,000 | $82.9B | 2.70% | |
| 10 | SABRSABRE CORP | 19,350,000 | $61.1B | 1.99% | |
| 11 | ALKALASKA AIR GROUP INC | 1,119,302 | $55.4B | 1.80% | |
| 12 | CUCAAVIS BUDGET GROUP | 320,000 | $54.1B | 1.76% | |
| 13 | HHYATT HOTELS CORP | 371,261 | $51.8B | 1.69% | |
| 14 | WBSWEBSTER FINL CORP | 750,000 | $41.0B | 1.33% | |
| 15 | TRIPTRIPADVISOR INC | 2,896,475 | $37.8B | 1.23% | |
| 16 | SKYWSKYWEST INC | 363,451 | $37.4B | 1.22% | |
| 17 | MARMARRIOTT INTL INC NEW | 136,100 | $37.2B | 1.21% | |
| 18 | AVDXAVIDXCHANGE HOLDINGS INC | 3,300,000 | $32.3B | 1.05% | |
| 19 | ALGTALLEGIANT TRAVEL CO | 584,996 | $32.1B | 1.05% | |
| 20 | LYFTLYFT INC | 1,905,000 | $30.0B | 0.98% | |
| 21 | JBLUJETBLUE AWYS CORP | 5,487,425 | $23.2B | 0.76% | |
| 22 | SNCYSUN CTRY AIRLS HLDGS INC | 1,959,372 | $23.0B | 0.75% | |
| 23 | RYAAYRYANAIR HOLDINGS PLC | 345,000 | $19.9B | 0.65% | |
| 24 | HTZHERTZ GLOBAL HLDGS INC | 2,291,357 | $15.6B | 0.51% | |
| 25 | CARSCARS COM INC | 1,200,000 | $14.2B | 0.46% | |
| 26 | AALAMERICAN AIRLS GROUP INC | 1,250,000 | $14.0B | 0.46% | |
| 27 | TRVGTRIVAGO N V | 3,576,869 | $13.5B | 0.44% | |
| 28 | CARGCARGURUS INC | 336,791 | $11.3B | 0.37% | |
| 29 | ULCCFRONTIER GROUP HLDGS INC | 2,181,100 | $7.9B | 0.26% | |
| 30 | LTMLATAM AIRLINES GROUP SA | 165,000 | $6.7B | 0.22% | |
| 31 | GBTGGLOBAL BUSINESS TRAVEL GROUP | 1,024,014 | $6.5B | 0.21% | |
| 32 | GOOGALPHABET INC | 34,900 | $6.2B | 0.20% | |
| 33 | CPACOPA HOLDINGS SA | 53,000 | $5.8B | 0.19% | |
| 34 | CARTMAPLEBEAR INC | 91,500 | $4.1B | 0.13% | |
| 35 | BKBANK NEW YORK MELLON CORP | 26,364 | $2.4B | 0.08% | |
| 36 | WHWYNDHAM HOTELS & RESORTS INC | 27,000 | $2.2B | 0.07% | |
| 37 | —MESA AIR GROUP INC | 2,248,190 | $2.1B | 0.07% | |
| 38 | TRVCCITIGROUP INC | 20,000 | $1.7B | 0.06% | Put |
| 39 | SOFISOFI TECHNOLOGIES INC | 82,500 | $1.5B | 0.05% | Put |
| 40 | AMZNAMAZON COM INC | 6,300 | $1.4B | 0.05% | |
| 41 | VVISA INC | 2,840 | $1.0B | 0.03% | |
| 42 | DASHDOORDASH INC | 4,000 | $986.0M | 0.03% | |
| 43 | GRABGRAB HOLDINGS LIMITED | 161,000 | $809.8M | 0.03% | |
| 44 | BACBANK AMERICA CORP | 16,700 | $790.2M | 0.03% | |
| 45 | PINSPINTEREST INC | 15,000 | $537.9M | 0.02% | |
| 46 | MAMASTERCARD INCORPORATED | 900 | $505.7M | 0.02% | |
| 47 | FLEXFLEX LTD | 9,910 | $494.7M | 0.02% | |
| 48 | METAMETA PLATFORMS INC | 660 | $487.1M | 0.02% | |
| 49 | WWAYFAIR INC | 9,000 | $460.3M | 0.01% | |
| 50 | SEICSEI INVTS CO | 3,500 | $314.5M | 0.01% | |
| 51 | ABNBAIRBNB INC | 1,800 | $238.2M | 0.01% | |
| 52 | ZZILLOW GROUP INC | 3,200 | $224.2M | 0.01% | |
| 53 | EBEVENTBRITE INC | 31,000 | $81.5M | 0.00% |