PAR Capital Management, Inc. is an SEC-registered investment adviser based in Boston, MA that reports managing 1 hedge fund on Form ADV. It reports $1.5 billion in regulatory assets under management. Its private funds, of all types, hold $1.5 billion in gross assets. Its disclosed U.S. stock holdings returned an estimated +2.6% 2026 YTD through Jun 30 (S&P 500: +9.5%), based on 13F filings. Over a longer period they returned an estimated +59.7% from Q3 2024 to Q2 2026, compared with +37.2% for the S&P 500, based on 13F filings.
- Regulatory assets under management
- $1.5 billionForm ADV Item 5.F
- Gross assets of private funds
- $1.5 billionAll private fund types, Form ADV
- Hedge funds managed
- 11 private funds in total
- Employees
- 12Form ADV Item 5.A
- Registration
- SEC-registered adviserCRD 156596
- Latest Form ADV
- 03/12/2026Disciplinary disclosures: none reported
Estimated 13F portfolio performance
| Quarter | Est. 13F return | S&P 500 |
|---|---|---|
| Q2 2026 | +18.9% | +14.8% |
| Q1 2026 | -13.7% | -4.6% |
| Q4 2025 | +13.0% | +2.4% |
| Q3 2025 | +9.4% | +7.8% |
| Q2 2025 | +15.5% | +10.4% |
| Q1 2025 | -14.7% | -4.5% |
| Q4 2024 | +17.9% | +2.1% |
| Q3 2024 | +8.4% | +5.4% |
Estimate of the firm's disclosed long U.S. stock portfolio from its quarterly 13F filings, holding each quarter-end portfolio to the next quarter-end at prices implied by all 13F filers. It is a price return before dividends and fees, ignores shorts, options, bonds, cash and trading within the quarter, and is not the return of any fund. Disclosures
Largest disclosed holdings
- United Airls Hldgs Inc$728.9 million
- Synchrony Financial$578.9 million
- Expedia Inc$485.1 million
- Delta Air Lines Inc Del Com New$326.2 million
- Wex Inc$318.2 million
- Uber Technologies Inc$304.3 million
- Southwest Airls Co Com$252.3 million
- Booking Holdings Inc$176.8 million
- Carvana Co$114.5 million
- Airbnb Inc Com CL A$107.3 million
As of 2026-06-30, from 13F filing by PAR Capital Management Inc.
From SEC filings. Firm data comes from the SEC's Form ADV data as of Oct 2, 2026; performance estimates come from Form 13F. HedgeMountain has not verified this information, and it is not an offer, solicitation or recommendation. Full disclosures