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Funds (13F)

Sessa Capital Im, L.P.

Backtest from 20 Feb 2015 to 2 Nov 2026 · weekly · hypothetical

Watch this strategy
Return a year
+20.6%
S&P 500 +13.4%
Last 12 months
+27.8%
S&P 500 +12.1%
Sharpe ratio
0.77
S&P 500 0.71
Biggest drop
−43.3%
S&P 500 −31.8%
$10.0k$20.0k$40.0k$80.0k 201520172019202120232025 $89.6k$43.5k
Sessa Capital Im, L.P.S&P 500 $10,000 in Sessa Capital Im, L.P. from 20 Feb 2015 against the S&P 500 (total return) over the same dates, marked weekly, log scale. Hypothetical: before taxes and trading costs.

About

Copies Sessa Capital Im, L.P.'s quarterly 13F holdings in the companies we cover, weighted by reported value: it buys on the first trading day after each 13F is filed (up to 45 days after the quarter) and holds until the next filing. A 13F shows long US-listed positions only, at the quarter's end, so this misses shorts, cash, bonds, non-US holdings and trading within the quarter.

Sessa Capital Im, L.P.'s 13F holdings →

Key statistics

MeasureStrategyS&P 500
Return a year (compound)+20.6%+13.4%
Total return+796%+335%
Last 12 months+27.8%+12.1%
Last 3 months+3.5%—
Last month+4.2%—
This year so far+19.0%—
Volatility a year25.5%16.5%
Sharpe ratio0.770.71
Biggest drop−43.3%−31.8%
Beta to the S&P 5001.141.00
Alpha a year (t-statistic)+6.3% (1.26)—
Share of weeks up57%—

Sharpe ratio uses returns above the 3-month Treasury bill rate. Alpha is the yearly return left after allowing for the strategy's exposure to the S&P 500 (CAPM); a t-statistic below about 2 means it cannot be told apart from luck.

Insights

CompanyWeightHeld sinceReturn since
HUM30.1%——
KMB11.6%——
SHC9.8%——
PCG8.4%——
ALLY7.9%——
COF6.3%——
ILMN4.0%——
TFX3.9%——
MICC3.4%——
GRAL2.8%——
AXTA2.5%——
CPNG1.8%——
FTRE1.6%——
TNDM1.6%——
ROKU1.0%——
LXRX0.9%——
MMED0.6%——
CMCSA0.5%——
SENS0.5%——
RNA0.4%——
SABS0.2%——
BALY0.1%——
FLG0.0%——
BHR0.0%——

Weighted by reported value in the latest 13F, held until the next filing.

PeriodReturn a yearS&P 500SharpeS&P 500Biggest dropBetaAlpha (t)
Whole backtest20 Feb 2015 to 2 Nov 2026+20.6%+13.4%0.770.71−43.3%1.14+6.3% (1.26)
2018 onwards5 Jan 2018 to 2 Nov 2026+14.6%+13.9%0.540.66−43.3%1.12+0.9% (0.16)
Last three years3 Nov 2023 to 2 Nov 2026+24.7%+21.8%1.011.16−18.6%0.84+5.7% (0.65)
Last year7 Nov 2025 to 2 Nov 2026+30.1%+14.2%1.310.84−18.6%0.79+15.9% (1.01)
DateCompanyAction
21 Aug 2026CMCSABought
22 May 2026TFXBought
22 May 2026SENSBought
22 May 2026RNABought
22 May 2026MMEDBought
22 May 2026KMBBought
22 May 2026CPNGBought
20 Feb 2026SOLSBought
20 Feb 2026MICCBought
20 Feb 2026AXTABought
21 Nov 2025PFGCBought
21 Nov 2025KDPBought
15 Aug 2025ZBRABought
15 Aug 2025OSCRBought
15 Aug 2025LXRXBought
15 Aug 2025ILMNBought
15 Aug 2025COFBought
15 Aug 2025APDBought
16 May 2025TNDMBought
16 May 2025PCGBought
16 May 2025MRNABought
16 May 2025HRBought
16 May 2025FTAIBought
16 May 2025CRWVBought
21 Feb 2025UHSBought

Dated at the rebalance that made the change.

DateCompanyAction
21 Aug 2026USFDSold
21 Aug 2026SOLSSold
21 Aug 2026PFGCSold
21 Aug 2026OSCRSold
21 Aug 2026FTAISold
21 Aug 2026APDSold
22 May 2026MRNASold
20 Feb 2026ZBRASold
20 Feb 2026TSold
20 Feb 2026KDPSold
21 Nov 2025GTXSold
21 Nov 2025GPCSold
15 Aug 2025ULSSold
15 Aug 2025HRSold
15 Aug 2025CRWVSold
15 Aug 2025CCKSold
15 Aug 2025ABTSold
16 May 2025UHSSold
16 May 2025EQHSold
21 Feb 2025SIRISold
21 Feb 2025JSold
21 Feb 2025AMTMSold

Dated at the rebalance that made the change.

Backtests are hypothetical and use today's listed companies only, which flatters results. Past performance does not predict future returns. This is research, not investment advice. How we backtest