Sessa Capital Im, L.P.
Sessa Capital IM, L.P. is a hedge fund and investment adviser headquartered in New York, NY. Founded in 2007 by John Eric Petry, the firm manages assets for clients seeking exposure to publicly listed equities, with a focus on concentrated, special situation investments both in the United States and internationally. The firm initially started with approximately $100 million and has since grown considerably, now managing over $3.6 billion as of March 2024. Sessa Capital serves high-net-worth individuals and institutional clients, employing a relatively small and specialized team.
Investment Strategy
Sessa Capital specializes in concentrated, high-conviction investment strategies surrounding special situation opportunities in both domestic and international markets. The fund utilizes deep fundamental research to identify value-driven investments, often with a significant portion of portfolio assets allocated to its top holdings. Sessa Capital seeks to generate attractive risk-adjusted returns primarily through public equities, with a willingness to take large, active positions when the risk/reward profile is compelling.
Top Holdings
Equity Positions (27)
| Ticker | Security | Weight | Market Value | Shares | Avg Cost | Price | Change (QoQ) |
|---|---|---|---|---|---|---|---|
W WBD | WARNER BROS DISCOVERY INC | 16.99% | $580.2M | 50,624,148 | $11.24 | $11.46 | +$263.0M |
H HUM | HUMANA INC | 15.21% | $519.3M | 2,123,965 | $246.13 | $244.48 | +$418.6M |
I ILMN | ILLUMINA INC | 13.20% | $450.6M | 4,722,874 | $95.41 | $95.41 | +$450.6M |
C COF | CAPITAL ONE FINL CORP | 11.28% | $385.1M | 1,810,233 | $212.76 | $212.76 | +$385.1M |
P PCG | PG&E CORP | 10.03% | $342.6M | 24,578,101 | $16.40 | $13.94 | +$21.6M |
Options Positions (1)
| Ticker | Security | Action | Type | Notional Value | Contracts | Underlying Price | Premium Paid | Change (Contracts) | Change (Value) |
|---|---|---|---|---|---|---|---|---|---|
H HUM | HUMANA INC | — | Call | $127.5M | 5,216 | $244.48 | $253.71 | 0 | -$10.5M |