Par Capital Management, Inc.
- Regulatory AUM
- $1.5B
- Discretionary
- $1.5B
- Clients
- 1
- Avg AUM / client
- $1.5B
- Accounts
- 1
- Employees
- 12
AUM over time
Annual snapshots from Form ADV filings · as of Mar 12, 2026
Investments (13F portfolio — 45 positions, $3,451,580,722)
13F period Mar 31, 2026| # | Issuer | Class | Value | Shares | % of 13F | % of AUM |
|---|---|---|---|---|---|---|
| 1 | Synchrony Financial | COM | $517,777,559 | 7,612,137 | 15.0% | 35.2% |
| 2 | United Airls Hldgs Inc | COM | $460,059,980 | 4,996,850 | 13.3% | 31.3% |
| 3 | Expedia Group Inc | COM NEW | $450,724,987 | 1,952,120 | 13.1% | 30.6% |
| 4 | Wex Inc | COM | $345,102,751 | 2,254,984 | 10.0% | 23.5% |
| 5 | Uber Technologies Inc | COM | $268,800,468 | 3,736,973 | 7.79% | 18.3% |
| 6 | Delta Air Lines Inc | COM NEW | $234,836,944 | 3,532,445 | 6.8% | 16.0% |
| 7 | Southwest Airls Co | COM | $196,085,043 | 5,219,192 | 5.68% | 13.3% |
| 8 | Booking Holdings Inc | COM | $179,245,953 | 42,573 | 5.19% | 12.2% |
| 9 | Carvana Co | CL A | $109,363,999 | 347,872 | 3.17% | 7.43% |
| 10 | Airbnb Inc | COM CL A | $94,394,300 | 747,500 | 2.73% | 6.42% |
| 11 | Allegiant Travel Co | COM | $68,575,319 | 846,191 | 1.99% | 4.66% |
| 12 | Alaska Air Group Inc | COM | $58,167,570 | 1,581,500 | 1.69% | 3.95% |
| 13 | Hyatt Hotels Corp | COM CL A | $48,672,915 | 338,500 | 1.41% | 3.31% |
| 14 | Tripadvisor Inc | COM | $43,408,096 | 4,072,054 | 1.26% | 2.95% |
| 15 | Lyft Inc | CL A COM | $41,629,000 | 3,130,000 | 1.21% | 2.83% |
| 16 | Skywest Inc | COM | $32,868,069 | 357,923 | 0.95% | 2.23% |
| 17 | Marriott Intl Inc New | CL A | $29,436,300 | 90,000 | 0.85% | 2.0% |
| 18 | Avis Budget Group Inc | COM | $29,170,000 | 200,000 | 0.85% | 1.98% |
| 19 | Sun Ctry Airls Hldgs Inc | COM | $24,248,056 | 1,467,800 | 0.7% | 1.65% |
| 20 | Visa Inc | COM CL A | $24,179,200 | 80,000 | 0.7% | 1.64% |
| 21 | Schwab Charles Corp | COM | $23,805,134 | 253,300 | 0.69% | 1.62% |
| 22 | Ryanair Holdings Plc | SPONSORED ADR | $19,941,000 | 345,000 | 0.58% | 1.36% |
| 23 | Alphabet Inc | CAP STK CL C | $19,850,712 | 69,200 | 0.58% | 1.35% |
| 24 | Jetblue Airways Corp | COM | $19,701,819 | 4,457,425 | 0.57% | 1.34% |
| 25 | Copa Holdings Sa | CL A | $17,859,151 | 157,197 | 0.52% | 1.21% |
Top 25 of 45 positions from the manager's latest Form 13F · source filing (EDGAR) ↗. 13F covers long US-listed positions only. "% of AUM" is share of the firm's total regulatory AUM (Form ADV Item 5.F).
Who they serve
| Client type | Clients | AUM | % of AUM |
|---|---|---|---|
| Pooled investment vehicles (non-investment companies) | 1 | $1.5B | 100.0% |
Private funds (1)
Reported in Form ADV Section 7.B.(1), filing of Mar 2024 · $2.8B combined gross assets
| Fund | Type | Domicile | Gross assets | Owners |
|---|---|---|---|---|
| Par Investment Partners, L.P. | Hedge Fund | Delaware | $2.8B | 85 |
People (4)
| Name | Role / title | Credentials | With firm since | Ownership |
|---|---|---|---|---|
| Reeder, Paul, Arlington | Shareholder/President | May 1992 (34y) | 75% or more | |
| Smith, Steven, Michael | Shareholder / Chief Operating Officer, General Counsel And Chief Compliance Officer | Nov 2010 (16y) | 5% – 10% | |
| Moeykens, William, David | Vice President Of Finance | Jan 2012 (15y) | Less than 5% | |
| Zimman, Marc, Daniel | Shareholder/Vice President | Jan 2020 (7y) | 10% – 25% |
Undisclosed: 0% – 10% of the firm is not attributable from the filed Schedule A bands.
Roster from the IAPD representatives feed; ownership and acquisition dates from Form ADV Schedule A/B. "Since" is the earliest filed registration or acquisition date.
Private funds (1, $2.8B gross assets)
| Fund | Type | Gross assets | Min. investment | Owners |
|---|---|---|---|---|
| Par Investment Partners, L.P. | Hedge Fund | $2.8B | $1.0M | 85 |
From Form ADV Section 7.B private fund reporting.
Documents (1 archived)
| Form | Period | Size | |
|---|---|---|---|
| Form ADV (full filing) | 03/12/2026 | 1.25 MB | View · PDF · Source ↗ |
Archived copies of the firm's regulatory filings, versioned by content hash.
Disciplinary disclosures
No disciplinary events reported on the firm's latest Form ADV filing.
How they charge
- • Percentage of assets under management
- • Performance-based fees
Services
- • Portfolio management for pooled investment vehicles
Custody
Firm reports having custody of client funds or securities (Item 9.A).
No custodian data reported or mined yet.
Source
All data on this page comes from this firm's Form ADV filings, reproduced without modification. Latest filing: Mar 12, 2026.
View current Form ADV (SEC/IAPD) ↗