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Hedge fund

Sessa Capital Im, L.P.

13F for the quarter to June 30, 2026, filed August 14, 2026 · SEC CIK 1595849

Reported value
$5.8bn
85% in companies we cover
Positions we cover
24
Largest HUM 25.6%
Copy, a year
+20.6%
S&P 500 +13.4%
Copy Sharpe ratio
0.77
S&P 500 0.71

How copying its 13F would have done

$10.0k$20.0k$40.0k$80.0k 201520172019202120232025 $89.6k$43.5k
CopyS&P 500 $10,000 copying Sessa Capital Im, L.P.'s filed holdings in companies we cover from February 20, 2015, buying on the first trading day after each 13F was filed and holding until the next, against the S&P 500 (total return). Marked weekly, log scale. Before costs and taxes; misses trading within each quarter and anything 13F does not show (shorts, cash, bonds, non-US holdings).

Biggest drop −43.3% (S&P 500 −31.8%); beta 1.14; alpha +6.3% a year (t = 1.26); last 12 months +27.8% against +12.1%.

Reported value by quarter

Sessa Capital Im, L.P.: 13F reported value Total value of all positions in each quarter's 13F, as filed (values before 2023 were filed in thousands of dollars and are converted).
$0 $500B $1T $1.5T $2T Reported value, 2014-12-31: $188.5M Reported value, 2015-03-31: $216.7M Reported value, 2015-06-30: $194M Reported value, 2015-09-30: $211.9M Reported value, 2015-12-31: $272.9M Reported value, 2016-03-31: $297M Reported value, 2016-06-30: $308.3M Reported value, 2016-09-30: $386.6M Reported value, 2016-12-31: $417.4M Reported value, 2017-03-31: $379.3M Reported value, 2017-06-30: $465.4M Reported value, 2017-09-30: $555.6M Reported value, 2017-12-31: $531.2M Reported value, 2018-03-31: $575.1M Reported value, 2018-06-30: $659.8M Reported value, 2018-09-30: $604.6M Reported value, 2018-12-31: $646.7M Reported value, 2019-03-31: $640.1M Reported value, 2019-06-30: $794.1M Reported value, 2019-09-30: $755.9M Reported value, 2019-12-31: $865.6M Reported value, 2020-03-31: $702.7M Reported value, 2020-06-30: $995.3M Reported value, 2020-09-30: $1.1B Reported value, 2020-12-31: $1.3B Reported value, 2021-03-31: $1.5B Reported value, 2021-06-30: $1.8B Reported value, 2021-09-30: $1.6B Reported value, 2021-12-31: $1.8B Reported value, 2022-03-31: $1.6B Reported value, 2022-06-30: $1.5B Reported value, 2022-09-30: $1.4B Reported value, 2022-12-31: $1.6T Reported value, 2023-03-31: $2.4B Reported value, 2023-06-30: $2B Reported value, 2023-09-30: $2.3B Reported value, 2023-12-31: $2.1B Reported value, 2024-03-31: $2.6B Reported value, 2024-06-30: $2.6B Reported value, 2024-09-30: $2.6B Reported value, 2024-12-31: $2.6B Reported value, 2025-03-31: $2.4B Reported value, 2025-06-30: $3.3B Reported value, 2025-09-30: $4B Reported value, 2025-12-31: $5B Reported value, 2026-03-31: $5.3B Reported value, 2026-06-30: $5.8B 2014-12-31 2017-06-30 2019-12-31 2022-06-30 2026-06-30 $5.8B
View chart data
Period Reported value
2014-12-31 $188.5M
2015-03-31 $216.7M
2015-06-30 $194M
2015-09-30 $211.9M
2015-12-31 $272.9M
2016-03-31 $297M
2016-06-30 $308.3M
2016-09-30 $386.6M
2016-12-31 $417.4M
2017-03-31 $379.3M
2017-06-30 $465.4M
2017-09-30 $555.6M
2017-12-31 $531.2M
2018-03-31 $575.1M
2018-06-30 $659.8M
2018-09-30 $604.6M
2018-12-31 $646.7M
2019-03-31 $640.1M
2019-06-30 $794.1M
2019-09-30 $755.9M
2019-12-31 $865.6M
2020-03-31 $702.7M
2020-06-30 $995.3M
2020-09-30 $1.1B
2020-12-31 $1.3B
2021-03-31 $1.5B
2021-06-30 $1.8B
2021-09-30 $1.6B
2021-12-31 $1.8B
2022-03-31 $1.6B
2022-06-30 $1.5B
2022-09-30 $1.4B
2022-12-31 $1.6T
2023-03-31 $2.4B
2023-06-30 $2B
2023-09-30 $2.3B
2023-12-31 $2.1B
2024-03-31 $2.6B
2024-06-30 $2.6B
2024-09-30 $2.6B
2024-12-31 $2.6B
2025-03-31 $2.4B
2025-06-30 $3.3B
2025-09-30 $4B
2025-12-31 $5B
2026-03-31 $5.3B
2026-06-30 $5.8B

Holdings and moves

CompanyShare of portfolioValueSharesChange in shares
HUMHumana25.61%$1.5bn3.73M0.0%
KMBKimberly-Clark9.89%$572.1m5.21M+17.6% Added
SHCSotera Health Co8.30%$480.1m27.05M+17.4% Added
PCGPG&E Corporation7.15%$413.4m24.58M0.0%
ALLYAlly Financial Inc.6.75%$390.0m8.49M0.0%
COFCapital One5.41%$312.6m1.56M0.0%
ILMNIllumina, Inc.3.40%$196.6m1.12M−65.9% Reduced
TFXTeleflex Inc3.35%$193.5m1.53M0.0%
MICCMagnum Ice Cream Co N.V.2.89%$166.9m9.59M+100.9% Added
GRALGrail, Inc.2.41%$139.1m2.04M+18.5% Added
AXTAAxalta Coating Systems Ltd.2.10%$121.1m3.54M+59.2% Added
CPNGCoupang, Inc.1.56%$90.2m5.19M0.0%
FTREFortrea Holdings Inc.1.38%$79.9m4.59M0.0%
TNDMTandem Diabetes Care Inc1.33%$77.0m5.10M+7.8% Added
ROKURoku, Inc0.84%$48.3m350.0K0.0%
LXRXLexicon Pharmaceuticals, Inc.0.79%$45.5m18.96M+5.8% Added
MMEDMinimed Group, Inc.0.52%$29.9m2.00M0.0%
CMCSAComcast0.45%$25.7m1.05MNew
SENSSenseonics Holdings, Inc.0.44%$25.2m4.44M+151.3% Added
RNAAtrium Therapeutics, Inc.0.35%$20.2m1.50M+172.0% Added
SABSSAB Biotherapeutics, Inc.0.15%$8.6m2.20M0.0%
BALYBally's Corp0.11%$6.1m447.8K0.0%
FLGFlagstar Bank, National Association0.01%$479,85832.1K0.0%
BHRBraemar Hotels & Resorts Inc.0.00%$56,05426.0K0.0%
CompanyBought (value)Shares
KMBKimberly-Clark$85.7m780.8K
MICCMagnum Ice Cream Co N.V.$83.9m4.82M
SHCSotera Health Co$71.0m4.00M
AXTAAxalta Coating Systems Ltd.$45.0m1.32M
CMCSAComcast$25.7m1.05M
GRALGrail, Inc.$21.7m318.2K
SENSSenseonics Holdings, Inc.$15.2m2.67M
RNAAtrium Therapeutics, Inc.$12.8m948.6K
TNDMTandem Diabetes Care Inc$5.6m369.2K
LXRXLexicon Pharmaceuticals, Inc.$2.5m1.05M

Change in shares on the previous quarter's 13F, valued at this quarter's reported price.

CompanySold (value)Shares
ILMNIllumina, Inc.−$379.3m−2.16M
APDAir Products−$344.4m−1.19M
SOLSSolstice Advanced Materials Inc.−$214.0m−2.81M
FTAIFTAI Aviation Ltd.−$98.0m−400.0K
PFGCPerformance Food Group Co−$24.1m−281.5K
USFDUS Foods Holding Corp.−$10.2m−110.7K
OSCROscar Health, Inc.−$5.7m−500.0K

Change in shares on the previous quarter's 13F, valued at this quarter's reported price.

CompanyValue last quarterShares
APDAir Products$344.4m1.19M
SOLSSolstice Advanced Materials Inc.$214.0m2.81M
FTAIFTAI Aviation Ltd.$98.0m400.0K
PFGCPerformance Food Group Co$24.1m281.5K
USFDUS Foods Holding Corp.$10.2m110.7K
OSCROscar Health, Inc.$5.7m500.0K
  • Health Care56.4%
  • Consumer Staples15.0%
  • Financials14.3%
  • Utilities8.4%
  • Materials2.5%
  • Consumer Discretionary2.0%
  • Communication Services1.5%
  • Real Estate0.0%

Share of the value held in companies we cover, by sector.

PeriodCopy, a yearS&P 500SharpeS&P 500Biggest dropBeta
Whole backtestFebruary 20, 2015 to November 2, 2026+20.6%+13.4%0.770.71−43.3%1.14
2018 onwardsJanuary 5, 2018 to November 2, 2026+14.6%+13.9%0.540.66−43.3%1.12
Last three yearsNovember 3, 2023 to November 2, 2026+24.7%+21.8%1.011.16−18.6%0.84
Last yearNovember 7, 2025 to November 2, 2026+30.1%+14.2%1.310.84−18.6%0.79

From SEC Form 13F data sets. A 13F lists long positions in US-listed shares at the quarter's end, filed up to 45 days later; it does not show shorts, cash, bonds, non-US holdings or trades within the quarter. Positions in companies outside our coverage are not listed here. Research, not investment advice.