Latest PAR CAPITAL MANAGEMENT INC Stock Portfolio

PAR CAPITAL MANAGEMENT INC Performance:

2025 Q4: 11.96%YTD: 20.95%2024: 28.63%

Performance for 2025 Q4 is 11.96%, and YTD is 20.95%, and 2024 is 28.63%.

About PAR CAPITAL MANAGEMENT INC and 13F Hedge Fund Stock Holdings

PAR CAPITAL MANAGEMENT INC is a hedge fund based in Boston, MA. On 2026-02-17, the fund reported it's updated stock portfolio. In the 13F Holdings report, PAR CAPITAL MANAGEMENT INC reported an equity portfolio of $3.8 Billions as of 31 Dec, 2025.

The top stock holdings of PAR CAPITAL MANAGEMENT INC are SYF, EXPE, UAL. The fund has invested 16.5% of it's portfolio in SYNCHRONY FINANCIAL and 14.6% of portfolio in EXPEDIA GROUP INC.

The fund managers got completely rid off AVIDXCHANGE HOLDINGS INC (AVDX), MESA AIR GROUP INC (MESA) and BANK NEW YORK MELLON CORP (BK) stocks. They significantly reduced their stock positions in BILL HOLDINGS INC (BILL), HERTZ GLOBAL HLDGS INC (HTZ) and BOOKING HOLDINGS INC (BKNG). PAR CAPITAL MANAGEMENT INC opened new stock positions in GRUPO AEROMEXICO SAB DE CV, REPUBLIC AWYS HLDGS INC (MESA) and TESLA INC (TSLA). The fund showed a lot of confidence in some stocks as they added substantially to ZOOM COMMUNICATIONS INC (ZM), AIRBNB INC (ABNB) and DOCUSIGN INC (DOCU).

PAR CAPITAL MANAGEMENT INC Annual Return Estimates Vs S&P 500

Our best estimate is that PAR CAPITAL MANAGEMENT INC made a return of 11.96% in the last quarter. In trailing 12 months, it's portfolio return was 20.95%.

Performance
S&P 500

New Buys

Ticker	$ Bought
grupo aeromexico sab de cv	30,415,500
republic awys hldgs inc	3,257,020
tesla inc	764,524
meta platforms inc	462,063
trip com group ltd	323,595

New stocks bought by PAR CAPITAL MANAGEMENT INC

Additions

Ticker	% Inc.
zoom communications inc	250
airbnb inc	232
docusign inc	76.67
uber technologies inc	52.17
doordash inc	45.83
klaviyo inc	43.75
alaska air group inc	41.29
cargurus inc	35.82

Additions to existing portfolio by PAR CAPITAL MANAGEMENT INC

Reductions

Ticker	% Reduced
bill holdings inc	-83.12
hertz global hldgs inc	-38.9
booking holdings inc	-30.14
global business travel group	-14.99
amazon com inc	-13.7
expedia group inc	-11.43
hyatt hotels corp	-8.75
lyft inc	-3.53

PAR CAPITAL MANAGEMENT INC reduced stake in above stock

Sold off

Ticker	$ Sold
avidxchange holdings inc	-32,828,000
mesa air group inc	-3,361,640
maplebear inc	-2,757,000
wyndham hotels & resorts inc	-2,157,300
bank new york mellon corp	-2,872,620
carnival corp	-390,285
flex ltd	-574,483
affirm hldgs inc	-401,940

PAR CAPITAL MANAGEMENT INC got rid off the above stocks

Sector Distribution

PAR CAPITAL MANAGEMENT INC has about 34% of it's holdings in Industrials sector.

Sector	%
Industrials	34
Consumer Cyclical	29.4
Financial Services	20.4
Technology	13.4
Others	2.5

Market Cap. Distribution

PAR CAPITAL MANAGEMENT INC has about 76.2% of it's portfolio invested in the large-cap and mega-cap stocks.

Category	%
LARGE-CAP	76.2
MID-CAP	17.7
SMALL-CAP	2.9
UNALLOCATED	2.5

Stocks belong to which Index?

About 79.8% of the stocks held by PAR CAPITAL MANAGEMENT INC either belong to S&P 500 or RUSSELL 2000 index.

Index	%
S&P 500	70.5
Others	20.2
RUSSELL 2000	9.3

Top 5 Winners (%)		%
ALGT	allegiant travel co	40.3 %
AAL	american airls group inc	36.4 %
EXPE	expedia group inc	30.7 %
LUV	southwest airls co	29.5 %
GOOG	alphabet inc	28.3 %

Top 5 Winners ($)		$
EXPE	expedia group inc	144.3 M
SYF	synchrony financial	92.8 M
UAL	united airls hldgs inc	75.6 M
LUV	southwest airls co	46.6 M
DAL	delta air lines inc del	45.2 M

Top 5 Losers (%)		%
CAR	avis budget group	-20.1 %
HTZ	hertz global hldgs inc	-19.7 %
DASH	doordash inc	-14.5 %
UBER	uber technologies inc	-14.2 %
TRVG	trivago n v	-12.5 %

Top 5 Losers ($)		$
WEX	wex inc	-17.5 M
UBER	uber technologies inc	-13.4 M
LYFT	lyft inc	-8.4 M
CAR	avis budget group	-6.5 M
TRIP	tripadvisor inc	-3.6 M

PAR CAPITAL MANAGEMENT INC Holdings Map

This heatmap illustrates the top 50 positions within the fund's portfolio.

Current Stock Holdings of PAR CAPITAL MANAGEMENT INC

PAR CAPITAL MANAGEMENT INC has 48 stocks in it's portfolio. About 78.8% of the portfolio is in top 10 stocks. WEX proved to be the most loss making stock for the portfolio. EXPE was the most profitable stock for PAR CAPITAL MANAGEMENT INC last quarter.

Last Reported on: 17 Feb, 2026

Ticker	Namesorted ascending	% Portfolio	Shares Held	$ Value	Type	% Change
AAL	american airls group inc	0.51	1,250,000	19,162,500	unchanged	0.00

ABNB	airbnb inc	2.62	729,900	99,062,000	added	232

AFRM	affirm hldgs inc	0.00	0.00	0.00	sold off	-100

ALGT	allegiant travel co	1.41	624,081	53,215,400	unchanged	0.00

ALK	alaska air group inc	2.10	1,581,500	79,549,400	added	41.29

AMZN	amazon com inc	0.04	6,300	1,454,170	reduced	-13.7

AVDX	avidxchange holdings inc	0.00	0.00	0.00	sold off	-100

BAC	bank america corp	0.03	18,500	1,017,500	added	1.65

BILL	bill holdings inc	0.47	325,000	17,725,500	reduced	-83.12

BK	bank new york mellon corp	0.00	0.00	0.00	sold off	-100

BKNG	booking holdings inc	3.47	24,487	131,136,000	reduced	-30.14

C	citigroup inc	0.03	10,000	1,166,900	unchanged	0.00

CAR	avis budget group	0.68	200,000	25,664,000	unchanged	0.00

CARG	cargurus inc	0.35	348,098	13,349,600	added	35.82

CARS	cars com inc	0.87	2,697,650	32,911,300	added	31.04

CCL	carnival corp	0.00	0.00	0.00	sold off	-100

CPA	copa holdings sa	0.50	157,197	18,959,500	added	6.21

CVNA	carvana co	3.91	350,672	147,991,000	reduced	-1.65

DAL	delta air lines inc del	6.56	3,574,210	248,050,000	unchanged	0.00

DASH	doordash inc	0.02	3,500	792,680	added	45.83