PAR CAPITAL MANAGEMENT INC

Q2 2025 13F-HR Holdings

Location
Boston, MA
Holdings as of
6/30/2025
Date filed
8/14/2025
Form type
13F-HR
Num holdings
57
Total value ($000)
$3,070,813
Net value change ($000)
+80,403 (2.7%)
New positions
10
Sold out positions
3
Turnover %
12.2%
Sector allocation + QoQ delta (equities-only)
Prev filing: 5/15/2025 Next filing: 11/14/2025 SEC filing

Snapshot: Change Analysis

Compared to Q1 2025
Methodology: sector metrics are equities-only; instrument mix chart is ex-options; options exposure is shown separately. Why this matters.
Top Adds (Value $000, Stocks/ETFs)
SYF 103,500 26.1%
CVNA 78,553 99.6%
UAL 61,395 18.4%
BKNG 45,161 26.0%
H 44,869 643.0%
SABR 26,676 77.4%
DAL 19,888 12.8%
MAR 18,342 97.3%
CARS 14,220 NEW
AAL 14,025 NEW
Top Reduces (Value $000, Stocks/ETFs)
UBER -330,043 -100.0%
CARG -70,611 -86.2%
WEX -18,658 -6.4%
LTM -7,917 -54.1%
LUV -6,713 -3.4%
TRIP -3,244 -7.9%
CAR -2,963 -5.2%
ULCC -1,440 -15.4%
TRVG -1,144 -7.8%
SNCY -1,116 -4.6%
Instrument mix + QoQ Δ (ex-options)
Derivatives reported exposure ($000): 14,160 (0.5% of total reported value)
How this table is calculated: SEC VALUE ($000) is used as reported. For derivatives (PUT/CALL/WARRANT/RIGHT), SEC value represents reported underlying exposure, not premium cash paid/received. Column % is bucket-based: non-options share is calculated inside non-option total, options share is calculated inside options total. Details.
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Instrument:
Issuer Name Ticker Sector Industry Class History Value ($000) % Shares Shares Δ Shares Δ% Value Δ ($000) Value Δ% Principal Option Type