Q4 2025 · 13F-HR
Sessa Capital IM, L.P.holdings as filed
Filed 2026-02-17 · accession 0001398344-26-003281
$5.35B
Reported value
31
Positions
2025-12-31
Period end
The Brief · Sessa Capital IM, L.P. · Q4 2025
AI · grounded in 13F
Sessa Capital IM, L.P. established a new position in SOLS valued at $362.8M. The fund also initiated new stakes in MAGNUM ICE CREAM CO NV for $75.6M and MSTR for $72M. On the sell side, the fund closed its positions in ZBRA and KDP, reducing holdings by $61.5M and $61.2M respectively. Additionally, the fund trimmed its stake in THS by 88.85%.
Holdings as filed
| CUSIP | Ticker | Issuer | Value | % port. | Shares | Class | Voting |
|---|---|---|---|---|---|---|---|
| 934423104 | WBD | WARNER BROS DISCOVERY INC | $1.31B | 24.5% | 45,565,629 | Common | SOLE |
| 444859102 | HUM | HUMANA INC | $593.9M | 11.1% | 2,318,907 | Common | SOLE |
| 452327109 | ILMN | ILLUMINA INC | $446.5M | 8.35% | 3,404,059 | Common | SOLE |
| 69331C108 | PCG | PG&E CORP | $395.0M | 7.38% | 24,578,101 | Common | SOLE |
| 14040H105 | COF | CAPITAL ONE FINL CORP | $377.7M | 7.06% | 1,558,233 | Common | SOLE |
| 83443Q103 | SOLS | SOLSTICE ADVANCED MATLS INC | $362.8M | 6.78% | 7,468,410 | Common | SOLE |
| 83601L102 | SHC | SOTERA HEALTH CO | $362.5M | 6.78% | 20,550,000 | Common | SOLE |
| 009158106 | APD | AIR PRODS & CHEMS INC | $292.9M | 5.47% | 1,185,672 | Common | SOLE |
| 02005N100 | ALLY | ALLY FINL INC | $212.1M | 3.96% | 4,682,126 | Common | SOLE |
| 26603R106 | DUOL | DUOLINGO INC | $116.5M | 2.18% | 664,000 | PUT | SOLE |
| 875372203 | TNDM | TANDEM DIABETES CARE INC | $109.9M | 2.05% | 5,000,000 | Common | SOLE |
| 444859102 | HUM | HUMANA INC | $95.2M | 1.78% | 371,600 | CALL | SOLE |
| G3730V105 | FTAI | FTAI AVIATION LTD | $78.7M | 1.47% | 400,000 | Common | SOLE |
| N5505D105 | MICC | MAGNUM ICE CREAM CO NV | $75.6M | 1.41% | 4,772,810 | Common | SOLE |
| 594972408 | MSTR | STRATEGY INC | $72.0M | 1.35% | 474,000 | PUT | SOLE |
| 34965K107 | FTRE | FORTREA HLDGS INC | $68.9M | 1.29% | 3,993,550 | Common | SOLE |
| G0750C108 | AXTA | AXALTA COATING SYS LTD | $64.4M | 1.20% | 1,993,545 | Common | SOLE |
| G3156P103 | ASA | ASA GOLD AND PRECIOUS MTLS L | $62.7M | 1.17% | 1,050,000 | Common | SOLE |
| 71377A103 | PFGC | PERFORMANCE FOOD GROUP CO | $52.7M | 0.99% | 586,340 | Common | SOLE |
| 77543R102 | ROKU | ROKU INC | $38.0M | 0.71% | 350,000 | Common | SOLE |
| 19260Q107 | COIN | COINBASE GLOBAL INC | $33.9M | 0.63% | 150,000 | PUT | SOLE |
| 912008109 | USFD | US FOODS HLDG CORP | $33.6M | 0.63% | 445,592 | Common | SOLE |
| 384747101 | GRAL | GRAIL INC | $31.2M | 0.58% | 364,714 | Common | SOLE |
| 60770K107 | MRNA | MODERNA INC | $21.9M | 0.41% | 743,081 | Common | SOLE |
| 89469A104 | THS | TREEHOUSE FOODS INC | $11.0M | 0.21% | 468,176 | Common | SOLE |
| 78397T202 | SABS | SAB BIOTHERAPEUTICS INC | $8.2M | 0.15% | 2,198,457 | Common | SOLE |
| 05875B304 | BALY | BALLYS CORPORATION | $7.4M | 0.14% | 447,799 | Common | SOLE |
| 687793109 | OSCR | OSCAR HEALTH INC | $7.2M | 0.13% | 500,000 | Common | SOLE |
| 528872302 | LXRX | LEXICON PHARMACEUTICALS INC | $3.5M | 0.06% | 3,000,000 | Common | SOLE |
| 649445400 | FLG | FLAGSTAR BANK NATIONAL ASSOC | $404,378 | 0.01% | 32,119 | Common | SOLE |
| 10482B101 | BHR | BRAEMAR HOTELS & RESORTS INC | $74,479 | 0.00% | 25,951 | Common | SOLE |
Source: SEC EDGAR · raw 13F holdings as filed. The Class column shows the option type when reported (Put/Call) or Common when the issuer's equity is held directly. 13F discloses long positions only.