[SCHEDULE 13G] Park Hotels & Resorts Inc. SEC Filing

Rhea-AI Filing Summary

Donald Smith & Co., Inc. and its affiliate DSCO Value Fund, L.P. reported beneficial ownership of 12,044,177 shares of Park Hotels & Resorts Inc. common stock, representing 6.03% of the class. Donald Smith & Co., Inc. holds 11,935,506 shares with sole voting and dispositive power and DSCO Value Fund holds 108,671 shares.

The filing clarifies that the advisory clients, not Donald Smith & Co., Inc., ultimately have the right to receive dividends or proceeds from sales and that the securities were acquired in the ordinary course of business and not to influence control of the issuer.

Insights

Financial Analyst

TL;DR: A disclosed 6.03% stake is material in size but appears passive, so limited immediate governance impact.

Donald Smith & Co., Inc. reports aggregate beneficial ownership of 12,044,177 shares, or 6.03% of Park Hotels & Resorts. For investors this is noteworthy because any holder above 5% must disclose and can attract market attention, yet the Schedule 13G treatment and the filers certification indicate a passive investment intent rather than an active campaign to change control. The majority of the reported position (11.94M shares) is held by the advisor in a sole voting/dispositive capacity, but the filing emphasizes that ultimate dividend and sale rights rest with advisory clients and that no single client owns more than 5% of the class.

Corporate Governance Expert

TL;DR: Disclosure signals regulatory compliance and passive ownership; no governance actions are indicated.

The Schedule 13G format and the certification language show the filer asserts passive ownership and no intent to influence issuer control. That reduces the likelihood of near-term board or strategic pressure from this holder. The split of voting and dispositive power between Donald Smith & Co., Inc. and its fund is explicitly stated, and the filing notes revocability of advisory discretion, which is relevant to assessing future changes in control or voting behavior.

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)

06/30/2025

(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 11,935,506.00
6	Shared Voting Power 0.00
7	Sole Dispositive Power 11,935,506.00
8	Shared Dispositive Power 0.00

9

Aggregate Amount Beneficially Owned by Each Reporting Person

12,044,177.00

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)

6.0 %

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 108,671.00
6	Shared Voting Power 0.00
7	Sole Dispositive Power 108,671.00
8	Shared Dispositive Power 0.00

9

Aggregate Amount Beneficially Owned by Each Reporting Person

12,044,177.00

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)

6.0 %

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 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: 12,044,177
(b)	Percent of class: 6.03 %
(c)	Number of shares as to which the person has:
	(i) Sole power to vote or to direct the vote: Donald Smith & Co., Inc. 11,935,506 DSCO Value Fund, L.P. 108,671
	(ii) Shared power to vote or to direct the vote: SEE ITEM 6
	(iii) Sole power to dispose or to direct the disposition of: Donald Smith & Co., Inc. 11,935,506 DSCO Value Fund, L.P. 108,671
	(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.
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. SEE EXHIBIT A
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:	08/14/2025

DSCO Value Fund, L.P.

Signature:	Richard L. Greenberg
Name/Title:	CEO and Co-CIO
Date:	08/14/2025

FAQ

How many Park Hotels & Resorts (PK) shares does Donald Smith & Co., Inc. beneficially own?

The filing reports 12,044,177 beneficially owned shares, representing 6.03% of the common stock.

What portion of the stake does DSCO Value Fund, L.P. hold in PK?

DSCO Value Fund, L.P. holds 108,671 shares with sole voting and dispositive power as reported.

Does Donald Smith & Co., Inc. intend to influence control of Park Hotels & Resorts?

No. The filer certifies the securities were acquired and are held in the ordinary course of business and not to change or influence control, per the Schedule 13G.

Who ultimately has the right to receive dividends or proceeds from these PK shares?

The filing states the ultimate right to receive dividends and sale proceeds is vested in the institutional clients advised by Donald Smith & Co., Inc., not the advisor acting as custodian.

What voting power does Donald Smith & Co., Inc. report for PK shares?

Donald Smith & Co., Inc. reports 11,935,506 shares with sole voting power; shared voting power is reported as 0.