In its 13F for Q4 2024 (holdings as of December 31, 2024, filed February 14, 2025), Sessa Capital IM, L.P. reported 25 stock positions worth $2.6 billion . Its top holding was Abbott Laboratories (ABT) at 17.7% of the portfolio, followed by Discover Financial Services (DFS, 12.0% ) and Warner Bros Discovery (WBD, 11.7% ). Compared with Q3 2024, it opened 4 new positions, sold out of 7, added to 3 and reduced 6. The biggest buy was a new position in Humana (HUM) and the biggest sale US Foods (USFD, shares −80% ).
Location NEW YORK, NY
CIK 0001595849
Portfolio Value $2.6B (Q4 2024) Holdings 25 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 Q3 2024 ABT Abbott Laboratories 4,006,723 $453.2M Add +6.9% DFS Discover Financial Services 1,776,132 $307.7M Reduce -27.7% WBD Warner Bros Discovery Inc. 28,410,428 $300.3M No change CCK Crown Holdings Inc. 3,042,374 $251.6M No change HUM Humana Inc. 827,619 $210.0M New ALLY Ally Financial Inc. 4,682,126 $168.6M No change GTX Garrett Motion Inc. 14,289,203 $129.0M No change FTRE Fortrea Holdings Inc. 6,658,044 $124.2M Reduce -3.6% EQH Equitable Holdings Inc. 2,554,723 $120.5M Reduce -36.7% THS Treehouse Foods Inc. 3,242,483 $113.9M Add +121.9% SHC Sotera Health Co. 6,300,597 $86.2M No change T AT&T Inc. 3,666,191 $83.5M No change GRAL Grail Inc. 3,000,000 $53.5M No change GPC Genuine Parts Co. 252,308 $29.5M New USFD US Foods Holding Corp. 400,000 $27.0M Reduce -80.0% ROKU Roku Inc. 350,000 $26.0M No change UHS Universal Health Services-B 134,783 $24.2M New BMEZ BlackRock HLTH Sci TRM TR II 1,444,110 $20.8M Reduce -12.3% BTX BlackRock Tech & Priv Eqty 2,015,096 $15.0M Reduce -15.2% ASA ASA Gold and Precious Metals 671,673 $13.6M Add +22.1% BALY Bally's Corp. 95,827 $1.8M New SABS Sab Biotherapeutics Inc. 458,457 $1.7M No change ULS Ul Solutions Inc. Class A 10,000 $499K No change FLG Flagstar Bank NA 32,119 $300K No change BHR Braemar Hotels & Resorts Inc. 25,951 $78K No change
Options reported separately and not counted above: HUM calls ($183.1M), ACHC calls ($29.7M), UHS calls ($13.9M).
Portfolio Sells Q3 2024 → Q4 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 Q3 2024 % Of Portfolio Change To Portfolio ▲ USFD US Foods Holding Corp. Reduce -80.0% 1.05% −3.65 SIRI Sirius XM Holdings Inc. Sold out 0.00% −2.98 K Kellanova Sold out 0.00% −2.82 EQH Equitable Holdings Inc. Reduce -36.7% 4.70% −1.78 J Jacobs Solutions Inc. Sold out 0.00% −1.76 DFS Discover Financial Services Reduce -27.7% 12.01% −1.17 TGNA Tegna Inc. Sold out 0.00% −0.71 AMTM Amentum Holdings Inc. Sold out 0.00% −0.44 FTRE Fortrea Holdings Inc. Reduce -3.6% 4.85% −0.43 BMEZ BlackRock HLTH Sci TRM TR II Reduce -12.3% 0.81% −0.19 BTX BlackRock Tech & Priv Eqty Reduce -15.2% 0.58% −0.10 AGL Agilon Health Inc. Sold out 0.00% −0.09 BALY Bally's Corp. Sold out 0.00% −0.06
Portfolio Buys Q3 2024 → Q4 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 Q3 2024 % Of Portfolio Change To Portfolio ▼ HUM Humana Inc. New 8.19% +8.19 THS Treehouse Foods Inc. Add +121.9% 4.45% +2.10 ABT Abbott Laboratories Add +6.9% 17.69% +1.35 GPC Genuine Parts Co. New 1.15% +1.15 UHS Universal Health Services-B New 0.94% +0.94 ASA ASA Gold and Precious Metals Add +22.1% 0.53% +0.09 BALY Bally's Corp. New 0.07% +0.07
Options Activity Q3 2024 → Q4 2024 Security Type Change vs Q3 2024 Underlying Shares Value ▼ HUM Humana Inc. call New 721,600 $183.1M ACHC Acadia Healthcare Co. Inc. call Add +200.0% 750,000 $29.7M UHS Universal Health Services-B call Reduce -76.6% 77,600 $13.9M EVH Evolent Health Inc. Class A call Sold out 150,000 $4.2Mbefore exit
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