The term “particle–hole symmetry” is beset with conflicting meanings in contemporary physics. Conceived and written from a condensed-matter standpoint, the present paper aims to clarify and sharpen the terminology. In that vein, we propose to define the operation of “particle–hole conjugation” as the tautological algebra automorphism that simply swaps single-fermion creation and annihilation operators, and we construct its invariant lift to the Fock space. Particle–hole symmetries then arise for gapful or gapless free-fermion systems at half filling, as the concatenation of particle–hole conjugation with one or another involution that reverses the sign of the first-quantized Hamiltonian. We illustrate that construction principle with a series of examples including the Su–Schrieffer–Heeger model and the Kitaev–Majorana chain. For an enhanced perspective, we contrast particle–hole symmetries with the charge-conjugation symmetry of relativistic Dirac fermions. We go on to present two major applications in the realm of interacting electrons. For one, we offer a heuristic argument that the celebrated Haldane phase of antiferromagnetic quantum spin chains is adiabatically connected to a free-fermion topological phase protected by a particle–hole symmetry. For another, we review the recent proposal by Son [Phys. Rev. X 5, 031027 (2015)] for a particle–hole conjugation symmetric effective field theory of the half-filled lowest Landau level, and we comment on the emerging microscopic picture of the composite fermion.