In its 13F for Q1 2024 (holdings as of March 31, 2024, filed May 15, 2024), Sessa Capital IM, L.P. reported 27 stock positions worth $2.6 billion . Its top holding was Kellanova (K) at 15.5% of the portfolio, followed by Discover Financial Services (DFS, 13.1% ) and Fortrea (FTRE, 10.0% ). Compared with Q4 2023, it opened 9 new positions, sold out of 5, added to 1 and reduced 5. The biggest buy was a new position in Discover Financial Services (DFS) and the biggest sale Garrett Motion (GTX, shares −43% ).
Location NEW YORK, NY
CIK 0001595849
Portfolio Value $2.6B (Q1 2024) Holdings 27 stocks · $2.6B 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 Q4 2023 K Kellanova 6,959,308 $398.7M No change DFS Discover Financial Services 2,558,062 $335.3M New FTRE Fortrea Holdings Inc. 6,375,000 $255.9M No change EQH Equitable Holdings Inc. 5,175,719 $196.7M No change ALLY Ally Financial Inc. 4,729,026 $192.0M No change FCNCA First Citizens Bcshs Class A 98,453 $161.0M Reduce -9.2% WBD Warner Bros Discovery Inc. 17,684,883 $154.4M Reduce -2.9% GTX Garrett Motion Inc. 14,289,203 $142.0M Reduce -43.4% T AT&T Inc. 6,421,702 $113.0M No change USFD US Foods Holding Corp. 2,000,000 $107.9M No change WBA Walgreens Boots Alliance Inc. 4,768,434 $103.4M Add +26.3% CCK Crown Holdings Inc. 1,300,000 $103.0M New THS Treehouse Foods Inc. 2,159,049 $84.1M New SHC Sotera Health Co. 4,000,000 $48.0M New ROKU Roku Inc. 552,616 $36.0M New PRGO Perrigo Co. PLC 1,084,794 $34.9M Reduce -52.8% TGNA Tegna Inc. 1,897,415 $28.3M Reduce -3.1% BMEZ BlackRock HLTH Sci TRM TR II 1,457,734 $23.9M New BTX BlackRock Tech & Priv Eqty 2,383,621 $19.4M New ASA ASA Gold and Precious Metals 550,000 $8.4M New CLEARBRIDGE MLP AND MIDSTRM 200,000 $8.3M No change PYPL PayPal Holdings Inc. 100,000 $6.7M No change AGL Agilon Health Inc. 599,875 $3.7M No change SABS Sab Biotherapeutics Inc. 458,457 $2.1M No change BALY Bally's Corp. 95,827 $1.3M No change FLG New York Community Bancorp 96,359 $310K New BHR Braemar Hotels & Resorts Inc. 25,951 $52K No change
Options reported separately and not counted above: TSLA puts ($1.6B), ALB puts ($39.5M), NVDA puts ($19.9M).
Portfolio Sells Q4 2023 → Q1 2024 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 Q4 2023 % Of Portfolio Change To Portfolio ▲ GTX Garrett Motion Inc. Reduce -43.4% 5.53% −5.83 WBD Warner Bros Discovery Inc. Reduce -2.9% 6.01% −3.64 IFF Intl Flavors & Fragrances Sold out 0.00% −3.39 FLEX Flex Ltd. Sold out 0.00% −2.84 PRGO Perrigo Co. PLC Reduce -52.8% 1.36% −2.09 NXPI NXP Semiconductors NV Sold out 0.00% −1.20 FCNCA First Citizens Bcshs Class A Reduce -9.2% 6.27% −0.90 TGNA Tegna Inc. Reduce -3.1% 1.10% −0.29 CRBG Corebridge Financial Inc. Sold out 0.00% −0.27 ARM Arm Holdings PLC-ADR Sold out 0.00% −0.07
Portfolio Buys Q4 2023 → Q1 2024 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 Q4 2023 % Of Portfolio Change To Portfolio ▼ DFS Discover Financial Services New 13.05% +13.05 CCK Crown Holdings Inc. New 4.01% +4.01 THS Treehouse Foods Inc. New 3.27% +3.27 SHC Sotera Health Co. New 1.87% +1.87 ROKU Roku Inc. New 1.40% +1.40 BMEZ BlackRock HLTH Sci TRM TR II New 0.93% +0.93 BTX BlackRock Tech & Priv Eqty New 0.76% +0.76 ASA ASA Gold and Precious Metals New 0.33% +0.33 FLG New York Community Bancorp New 0.01% +0.01 WBA Walgreens Boots Alliance Inc. Add +26.3% 4.03% −0.56
Options Activity Q4 2023 → Q1 2024 Security Type Change vs Q4 2023 Underlying Shares Value ▼ TSLA Tesla Inc. put Add +175.6% 9,150,000 $1.6B ALB Albemarle Corp. put Add +50.0% 300,000 $39.5M NVDA Nvidia Corp. put New 22,000 $19.9M
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