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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.
Latest 13F Filing Activity
Sessa Capital Im, L.P. filed their most recent 13F report on Jun 30, 2025 disclosing 27 equity positions and 1 options positions with a total 13F market value of $3B. The fund increased holdings in Illumina Inc., Humana Inc., Capital One Finl Corp. among other positions. Sessa Capital Im, L.P. reduced exposure to Discover Finl SVCS, Abbott Labs, Crown HLDGS Inc. among others.
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 |
Industry Allocation
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