Donald Smith & Co. discloses 7.31% Park Hotels stake (PK)

Rhea-AI Filing Summary

Park Hotels & Resorts Inc. (PK) received a Schedule 13G filing showing that Donald Smith & Co., Inc., a Delaware investment adviser, and DSCO Value Fund, L.P. together report beneficial ownership of 14,617,921 common shares as of 12/31/2025, representing 7.31% of the outstanding common stock.

Donald Smith & Co., Inc. reports sole voting and dispositive power over 14,484,309 shares, while DSCO Value Fund, L.P. reports sole voting and dispositive power over 133,612 shares. The filing states the securities are held in the ordinary course of business and not for the purpose of changing or influencing control of Park Hotels & Resorts Inc.

SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549

SCHEDULE 13G

UNDER THE SECURITIES EXCHANGE ACT OF 1934

Park Hotels & Resorts Inc.

(Name of Issuer)

Common

(Title of Class of Securities)

700517105

(CUSIP Number)

12/31/2025

(Date of Event Which Requires Filing of this Statement)

Check the appropriate box to designate the rule pursuant to which this Schedule is filed:

Rule 13d-1(b)

Rule 13d-1(c)

Rule 13d-1(d)

SCHEDULE 13G

CUSIP No. 700517105

1

Names of Reporting Persons

DONALD SMITH & CO., INC.

2

Check the appropriate box if a member of a Group (see instructions)

(a)
(b)

3

Sec Use Only

4

Citizenship or Place of Organization

DELAWARE

Number of Shares Beneficially Owned by Each Reporting Person With:

5	Sole Voting Power 14,484,309.00
6	Shared Voting Power 0.00
7	Sole Dispositive Power 14,484,309.00
8	Shared Dispositive Power 0.00

9

Aggregate Amount Beneficially Owned by Each Reporting Person

14,617,921.00

10

Check box if the aggregate amount in row (9) excludes certain shares (See Instructions)

11

Percent of class represented by amount in row (9)

7.3 %

12

Type of Reporting Person (See Instructions)

IA

SCHEDULE 13G

CUSIP No. 700517105

1

Names of Reporting Persons

DSCO Value Fund, L.P.

2

Check the appropriate box if a member of a Group (see instructions)

(a)
(b)

3

Sec Use Only

4

Citizenship or Place of Organization

DELAWARE

Number of Shares Beneficially Owned by Each Reporting Person With:

5	Sole Voting Power 133,612.00
6	Shared Voting Power 0.00
7	Sole Dispositive Power 133,612.00
8	Shared Dispositive Power 0.00

9

Aggregate Amount Beneficially Owned by Each Reporting Person

14,617,921.00

10

Check box if the aggregate amount in row (9) excludes certain shares (See Instructions)

11

Percent of class represented by amount in row (9)

7.3 %

12

Type of Reporting Person (See Instructions)

PN

SCHEDULE 13G

Item 1.
(a)	Name of issuer: Park Hotels & Resorts Inc.
(b)	Address of issuer's principal executive offices: 1775 TYSONS BLVD, 7TH FLOOR, TYSONS, VIRGINIA, 22102.
Item 2.
(a)	Name of person filing: Donald Smith & Co., Inc.
(b)	Address or principal business office or, if none, residence: 152 West 57th Street, 29th Floor New York, NY 10019
(c)	Citizenship: A Delaware Corporation
(d)	Title of class of securities: Common
(e)	CUSIP No.: 700517105
Item 3.	If this statement is filed pursuant to §§ 240.13d-1(b) or 240.13d-2(b) or (c), check whether the person filing is a:
(a)	Broker or dealer registered under section 15 of the Act (15 U.S.C. 78o);
(b)	Bank as defined in section 3(a)(6) of the Act (15 U.S.C. 78c);
(c)	Insurance company as defined in section 3(a)(19) of the Act (15 U.S.C. 78c);
(d)	Investment company registered under section 8 of the Investment Company Act of 1940 (15 U.S.C. 80a-8);
(e)	An investment adviser in accordance with § 240.13d-1(b)(1)(ii)(E);
(f)	An employee benefit plan or endowment fund in accordance with § 240.13d-1(b)(1)(ii)(F);
(g)	A parent holding company or control person in accordance with § 240.13d-1(b)(1)(ii)(G);
(h)	A savings associations as defined in Section 3(b) of the Federal Deposit Insurance Act (12 U.S.C. 1813);
(i)	A church plan that is excluded from the definition of an investment company under section 3(c)(14) of the Investment Company Act of 1940 (15 U.S.C. 80a-3);
(j)	A non-U.S. institution in accordance with § 240.13d-1(b)(1)(ii)(J). If filing as a non-U.S. institution in accordance with § 240.13d-1(b)(1)(ii)(J), please specify the type of institution:
(k)	Group, in accordance with Rule 240.13d-1(b)(1)(ii)(K).
Item 4.	Ownership
(a)	Amount beneficially owned: 14,617,921
(b)	Percent of class: 7.31%
(c)	Number of shares as to which the person has:
	(i) Sole power to vote or to direct the vote: SOLE POWER TO VOTE: Donald Smith & Co., Inc. 14,484,309 DSCO Value Fund, L.P. 133,612
	(ii) Shared power to vote or to direct the vote: SEE ITEM 6
	(iii) Sole power to dispose or to direct the disposition of: SOLE POWER TO DISPOSE: Donald Smith & Co., Inc. 14,484,309 DSCO Value Fund, L.P. 133,612
	(iv) Shared power to dispose or to direct the disposition of: SEE ITEM 6
Item 5.	Ownership of 5 Percent or Less of a Class.
	Not Applicable
Item 6.	Ownership of more than 5 Percent on Behalf of Another Person.
	If any other person is known to have the right to receive or the power to direct the receipt of dividends from, or the proceeds from the sale of, such securities, a statement to that effect should be included in response to this item and, if such interest relates to more than 5 percent of the class, such person should be identified. A listing of the shareholders of an investment company registered under the Investment Company Act of 1940 or the beneficiaries of employee benefit plan, pension fund or endowment fund is not required. 1. Donald Smith & Co., Inc. does not serve as custodian of the assets of any of its clients; accordingly, in each instance only the client or the client?s custodian or trustee bank has the right to receive dividends paid with respect to, and proceeds from the sale of, such securities. The ultimate power to direct the receipt of dividends paid with respect to, and the proceeds from the sale of, such securities, is vested in the institutional clients which Donald Smith & Co., Inc. serves as investment advisor. Any and all discretionary authority which has been delegated to Donald Smith & Co., Inc. may be revoked in whole or in part at any time. To the knowledge of Donald Smith & Co., Inc., with respect to all securities reported in this schedule owned by advisory clients of Donald Smith & Co., Inc., not more than 5% of the class of such securities is owned by any one client. 2. With respect to the remaining securities owned, various persons have the right to receive or the power to direct the receipt of dividends from, or the proceeds from the sale of, the Common Stock of Park Hotels & Resorts Inc. No one person?s interest in the Common Stock of Park Hotels & Resorts Inc. is more than five percent of the total outstanding Common Stock.
Item 7.	Identification and Classification of the Subsidiary Which Acquired the Security Being Reported on by the Parent Holding Company or Control Person.
	Not Applicable
Item 8.	Identification and Classification of Members of the Group.
	If a group has filed this schedule pursuant to §240.13d-1(b)(1)(ii)(K), so indicate under Item 3(k) and attach an exhibit stating the identity and Item 3 classification of each member of the group. If a group has filed this schedule pursuant to §240.13d-1(c) or §240.13d-1(d), attach an exhibit stating the identity of each member of the group. FILED PURSUANT TO RULE 13d-1(b) or 13d-2(b) RULE 13d-1(f)(1) EXHIBIT A: Donald Smith & Co., Inc. IA DSCO Value Fund, L.P. PN
Item 9.	Notice of Dissolution of Group.
	Not Applicable

Item 10.

Certifications:

By signing below I certify that, to the best of my knowledge and belief, the securities referred to above were acquired and are held in the ordinary course of business and were not acquired and are not held for the purpose of or with the effect of changing or influencing the control of the issuer of the securities and were not acquired and are not held in connection with or as a participant in any transaction having that purpose or effect, other than activities solely in connection with a nomination under § 240.14a-11.

SIGNATURE

After reasonable inquiry and to the best of my knowledge and belief, I certify that the information set forth in this statement is true, complete and correct.

DONALD SMITH & CO., INC.

Signature:	Richard L. Greenberg
Name/Title:	CEO and Co-CIO
Date:	02/11/2026

DSCO Value Fund, L.P.

Signature:	Richard L. Greenberg
Name/Title:	CEO and Co-CIO
Date:	02/11/2026

FAQ

What ownership stake in Park Hotels & Resorts Inc. (PK) is reported in this Schedule 13G?

The Schedule 13G reports beneficial ownership of 14,617,921 common shares of Park Hotels & Resorts Inc., representing 7.31% of the company’s outstanding common stock as of 12/31/2025, giving the filers a significant but non‑controlling equity position.

Who are the reporting persons in the Park Hotels & Resorts Inc. (PK) Schedule 13G?

The reporting persons are Donald Smith & Co., Inc., a Delaware corporation and investment adviser, and DSCO Value Fund, L.P.. Both entities report beneficial ownership in Park Hotels & Resorts Inc. common stock and are identified together in Exhibit A of the filing.

How many PK shares does Donald Smith & Co., Inc. control under this filing?

Donald Smith & Co., Inc. reports sole voting and dispositive power over 14,484,309 common shares of Park Hotels & Resorts Inc. These shares are held for advisory clients, with authority exercised as investment adviser rather than as custodian of client assets.

What is DSCO Value Fund, L.P.’s reported position in Park Hotels & Resorts Inc. (PK)?

DSCO Value Fund, L.P. reports sole voting and dispositive power over 133,612 common shares of Park Hotels & Resorts Inc. This amount forms part of the overall 14,617,921 shares reported as beneficially owned in aggregate by the reporting persons.

Are any individual PK shareholders reported as owning more than 5% through Donald Smith & Co., Inc.?

The filing states that, to the knowledge of Donald Smith & Co., Inc., no single advisory client owns more than 5% of the outstanding common stock of Park Hotels & Resorts Inc. Interests are spread among multiple institutional and other clients.

Is the PK stake held to influence control of Park Hotels & Resorts Inc.?

The certification explains the PK shares were acquired and are held in the ordinary course of business and not for the purpose of changing or influencing control, nor in connection with any transaction intended to have that effect, other than activities tied to nomination rules referenced.