In its 13F for Q2 2026 (holdings as of June 30, 2026, filed August 14, 2026), Sessa Capital IM, L.P. reported 26 stock positions worth $5.8 billion . Its top holding was Humana (HUM) at 25.6% of the portfolio, followed by Warner Bros Discovery (WBD, 13.9% ) and Kimberly-Clark (KMB, 9.9% ). Compared with Q1 2026, it opened 1 new position, sold out of 6, added to 9 and reduced 2. The biggest buy was Sotera Health (SHC, shares +17% ) and the biggest sale an exit from Air Products & Chemicals (APD).
Location NEW YORK, NY
CIK 0001595849
Portfolio Value $5.8B (Q2 2026) Holdings 26 stocks · $5.8B Holdings quarter Q2 2026 Q1 2026 Q4 2025 Q3 2025 Q2 2025 Q1 2025 Q4 2024 Q3 2024 Q2 2024 Q1 2024
Stock % Of Portfolio ▼ Shares Held Total Value Change vs Q1 2026 HUM Humana Inc. 3,727,740 $1.5B No change WBD Warner Bros Discovery Inc. 30,165,805 $804.2M Reduce -5.6% KMB Kimberly-Clark Corp. 5,212,035 $572.1M Add +17.6% SHC Sotera Health Co. 27,050,000 $480.1M Add +17.4% PCG P G & E Corp. 24,578,101 $413.4M No change ALLY Ally Financial Inc. 8,488,098 $390.0M No change COF Capital One Financial Corp. 1,558,233 $312.6M No change ILMN Illumina Inc. 1,118,374 $196.6M Reduce -65.9% TFX Teleflex Inc. 1,526,228 $193.5M No change MICC The Magnum Ice Cream Co. NV 9,589,219 $166.9M Add +100.9% GRAL Grail Inc. 2,037,518 $139.1M Add +18.5% AXTA Axalta Coating Systems Ltd. 3,539,329 $121.1M Add +59.2% CPNG Coupang Inc. 5,190,000 $90.2M No change FTRE Fortrea Holdings Inc. 4,593,550 $79.9M No change TNDM Tandem Diabetes Care Inc. 5,100,000 $77.0M Add +7.8% ASA ASA Gold and Precious Metals 1,050,000 $54.6M No change ROKU Roku Inc. 350,000 $48.3M No change LXRX Lexicon Pharmaceuticals Inc. 18,960,836 $45.5M Add +5.8% MMED Minimed Group Inc. 2,000,000 $29.9M No change CMCSA Comcast Corp. Class A 1,048,600 $25.7M New SENS Senseonics Holdings Inc. 4,437,532 $25.2M Add +151.3% RNA Atrium Therapeutics Inc. 1,500,000 $20.2M Add +172.0% SABS Sab Biotherapeutics Inc. 2,198,457 $8.6M No change BALY Bally's Corp. 447,799 $6.1M No change FLG Flagstar Bank NA 32,119 $480K No change BHR Braemar Hotels & Resorts Inc. 25,951 $56K No change
Options reported separately and not counted above: MSTR puts ($100.0M), TSLA puts ($84.1M), DUOL puts ($11.5M), HOOD puts ($2.0M).
Portfolio Sells Q1 2026 → Q2 2026 Portfolio Sells quarter Q2 2026 Q1 2026 Q4 2025 Q3 2025 Q2 2025 Q1 2025 Q4 2024 Q3 2024 Q2 2024 Q1 2024
Stock Change vs Q1 2026 % Of Portfolio Change To Portfolio ▲ APD Air Products & Chemicals Inc. Sold out 0.00% −6.55 ILMN Illumina Inc. Reduce -65.9% 3.40% −4.28 SOLS Solstice Adv Materials Inc. Sold out 0.00% −4.07 WBD Warner Bros Discovery Inc. Reduce -5.6% 13.91% −2.79 FTAI Ftai Aviation Ltd. Sold out 0.00% −1.86 PFGC Performance Food Group Co. Sold out 0.00% −0.46 USFD US Foods Holding Corp. Sold out 0.00% −0.19 OSCR Oscar Health Inc. Class A Sold out 0.00% −0.11
Portfolio Buys Q1 2026 → Q2 2026 Portfolio Buys quarter Q2 2026 Q1 2026 Q4 2025 Q3 2025 Q2 2025 Q1 2025 Q4 2024 Q3 2024 Q2 2024 Q1 2024
Stock Change vs Q1 2026 % Of Portfolio Change To Portfolio ▼ SHC Sotera Health Co. Add +17.4% 8.30% +2.01 KMB Kimberly-Clark Corp. Add +17.6% 9.89% +1.76 MICC The Magnum Ice Cream Co. NV Add +100.9% 2.89% +1.53 AXTA Axalta Coating Systems Ltd. Add +59.2% 2.09% +0.92 GRAL Grail Inc. Add +18.5% 2.41% +0.72 CMCSA Comcast Corp. Class A New 0.45% +0.45 LXRX Lexicon Pharmaceuticals Inc. Add +5.8% 0.79% +0.26 SENS Senseonics Holdings Inc. Add +151.3% 0.44% +0.21 RNA Atrium Therapeutics Inc. Add +172.0% 0.35% +0.21 TNDM Tandem Diabetes Care Inc. Add +7.8% 1.33% −0.39
Options Activity Q1 2026 → Q2 2026 Security Type Change vs Q1 2026 Underlying Shares Value ▼ MSTR Strategy Inc. put Add +3621.7% 1,150,000 $100.0M COIN Coinbase Global Inc. Class A put Sold out 500,000 $87.3Mbefore exit HOOD Robinhood Markets Inc. Class A put Reduce -98.2% 20,000 $2.0M
Calls and puts are listed by the shares they cover; their value is not part of the stock holdings above.
All Filings Quarter Positions 13F Reported Value Top Holdings Q2 2026 26 $5.8B HUM, WBD, KMB, SHC, PCG Q1 2026 31 $5.3B WBD, HUM, PCG, KMB, ILMN Q4 2025 27 $5.0B WBD, HUM, ILMN, PCG, COF Q3 2025 27 $4.0B WBD, HUM, ILMN, COF, PCG Q2 2025 28 $3.3B WBD, HUM, ILMN, COF, PCG Q1 2025 29 $2.4B PCG, WBD, DFS, ABT, CCK Q4 2024 25 $2.6B ABT, DFS, WBD, CCK, HUM Q3 2024 28 $2.6B ABT, DFS, CCK, WBD, EQH Q2 2024 27 $2.6B K, DFS, ABT, CCK, EQH Q1 2024 27 $2.6B K, DFS, FTRE, EQH, ALLY