Sessa Capital IM, L.P. Diversified Active

Location: New York, NY

CIK: 0001595849 · Show all filings

Period: Q4 2025 (← Previous) (Next →)

Filing Date: Feb 17, 2026

Total Value: $5.35B (100.0% shares, 0.0% debt)

Holdings (31)

WBD WARNER BROS DISCOVERY INC 24.5%

Value $1.313B Shares 45,565,629 Est. Cost $12.07 Unrealized +93.7%

HUM HUMANA INC 11.1%

Value $594M Shares 2,318,907 Est. Cost $250.71 Unrealized +4.2%

ILMN ILLUMINA INC 8.3%

Value $446M Shares 3,404,059 Est. Cost $81.16 Unrealized +44.7%

PCG PG&E CORP 7.4%

Value $395M Shares 24,578,101 Est. Cost $16.38 Unrealized -2.8%

COF CAPITAL ONE FINL CORP 7.1%

Value $378M Shares 1,558,233 Est. Cost $185.05 Unrealized +20.1%

SOLS SOLSTICE ADVANCED MATLS INC 6.8%

Value $363M Shares 7,468,410 Est. Cost $47.08 Unrealized 0.0%

SHC SOTERA HEALTH CO 6.8%

Value $363M Shares 20,550,000 Est. Cost $15.51 Unrealized +6.6%

APD AIR PRODS & CHEMS INC 5.5%

Value $293M Shares 1,185,672 Est. Cost $267.46 Unrealized -5.9%

ALLY ALLY FINL INC 4.0%

Value $212M Shares 4,682,126 Est. Cost $25.44 Unrealized +60.4%

DUOL DUOLINGO INC 2.2%

Value $117M Shares 664,000 Est. Cost — Unrealized —

TNDM TANDEM DIABETES CARE INC 2.1%

Value $110M Shares 5,000,000 Est. Cost $28.25 Unrealized -36.1%

HUM HUMANA INC 1.8%

Value $95.18M Shares 371,600 Est. Cost $250.71 Unrealized +4.2%

FTAI FTAI AVIATION LTD 1.5%

Value $78.74M Shares 400,000 Est. Cost $117.07 Unrealized +45.4%

MICC MAGNUM ICE CREAM CO NV 1.4%

Value $75.65M Shares 4,772,810 Est. Cost $15.68 Unrealized 0.0%

MSTR STRATEGY INC 1.3%

Value $72.02M Shares 474,000 Est. Cost — Unrealized —

FTRE FORTREA HLDGS INC 1.3%

Value $68.89M Shares 3,993,550 Est. Cost $29.69 Unrealized -58.4%

AXTA AXALTA COATING SYS LTD 1.2%

Value $64.41M Shares 1,993,545 Est. Cost $29.34 Unrealized 0.0%

— ASA GOLD AND PRECIOUS MTLS L 1.2%

Value $62.65M Shares 1,050,000 Est. Cost $21.25 Unrealized —

PFGC PERFORMANCE FOOD GROUP CO 1.0%

Value $52.72M Shares 586,340 Est. Cost $98.37 Unrealized -1.8%

ROKU ROKU INC 0.7%

Value $37.97M Shares 350,000 Est. Cost $77.80 Unrealized +30.4%

COIN COINBASE GLOBAL INC 0.6%

Value $33.92M Shares 150,000 Est. Cost — Unrealized —

USFD US FOODS HLDG CORP 0.6%

Value $33.56M Shares 445,592 Est. Cost $56.43 Unrealized +33.1%

GRAL GRAIL INC 0.6%

Value $31.22M Shares 364,714 Est. Cost $16.03 Unrealized +439.1%

MRNA MODERNA INC 0.4%

Value $21.91M Shares 743,081 Est. Cost $35.49 Unrealized -23.4%

— TREEHOUSE FOODS INC 0.2%

Value $11.04M Shares 468,176 Est. Cost $34.63 Unrealized —

SABS SAB BIOTHERAPEUTICS INC 0.2%

Value $8.222M Shares 2,198,457 Est. Cost $2.94 Unrealized +12.0%

BALY BALLYS CORPORATION 0.1%

Value $7.398M Shares 447,799 Est. Cost $16.54 Unrealized -1.2%

OSCR OSCAR HEALTH INC 0.1%

Value $7.185M Shares 500,000 Est. Cost $14.87 Unrealized +16.4%

LXRX LEXICON PHARMACEUTICALS INC 0.1%

Value $3.45M Shares 3,000,000 Est. Cost $0.65 Unrealized +112.0%

FLG FLAGSTAR BANK NATIONAL ASSOC 0.0%

Value $404K Shares 32,119 Est. Cost $10.59 Unrealized +12.9%

BHR BRAEMAR HOTELS & RESORTS INC 0.0%

Value $74,479 Shares 25,951 Est. Cost $11.42 Unrealized —

Ticker	Issuer	Shares	Value	%	Est. Cost	Unrealized	Class	CUSIP
WBD	WARNER BROS DISCOVERY INC	45,565,629	$1.313B	24.5%	$12.07	+93.7%	COM SER A	934423104
HUM	HUMANA INC	2,318,907	$594M	11.1%	$250.71	+4.2%	COM	444859102
ILMN	ILLUMINA INC	3,404,059	$446M	8.3%	$81.16	+44.7%	COM	452327109
PCG	PG&E CORP	24,578,101	$395M	7.4%	$16.38	-2.8%	COM	69331C108
COF	CAPITAL ONE FINL CORP	1,558,233	$378M	7.1%	$185.05	+20.1%	COM	14040H105
SOLS	SOLSTICE ADVANCED MATLS INC	7,468,410	$363M	6.8%	$47.08	0.0%	COM SHS	83443Q103
SHC	SOTERA HEALTH CO	20,550,000	$363M	6.8%	$15.51	+6.6%	COM	83601L102
APD	AIR PRODS & CHEMS INC	1,185,672	$293M	5.5%	$267.46	-5.9%	COM	009158106
ALLY	ALLY FINL INC	4,682,126	$212M	4.0%	$25.44	+60.4%	COM	02005N100
DUOL	DUOLINGO INC	664,000	$117M	2.2%	—	—	Put	26603R106
TNDM	TANDEM DIABETES CARE INC	5,000,000	$110M	2.1%	$28.25	-36.1%	COM NEW	875372203
HUM	HUMANA INC	371,600	$95.18M	1.8%	$250.71	+4.2%	Call	444859102
FTAI	FTAI AVIATION LTD	400,000	$78.74M	1.5%	$117.07	+45.4%	SHS	G3730V105
MICC	MAGNUM ICE CREAM CO NV	4,772,810	$75.65M	1.4%	$15.68	0.0%	ORD SHS	N5505D105
MSTR	STRATEGY INC	474,000	$72.02M	1.3%	—	—	Put	594972408
FTRE	FORTREA HLDGS INC	3,993,550	$68.89M	1.3%	$29.69	-58.4%	COMMON STOCK	34965K107
AXTA	AXALTA COATING SYS LTD	1,993,545	$64.41M	1.2%	$29.34	0.0%	COM	G0750C108
—	ASA GOLD AND PRECIOUS MTLS L	1,050,000	$62.65M	1.2%	$21.25	—	SHS	G3156P103
PFGC	PERFORMANCE FOOD GROUP CO	586,340	$52.72M	1.0%	$98.37	-1.8%	COM	71377A103
ROKU	ROKU INC	350,000	$37.97M	0.7%	$77.80	+30.4%	COM CL A	77543R102
COIN	COINBASE GLOBAL INC	150,000	$33.92M	0.6%	—	—	Put	19260Q107
USFD	US FOODS HLDG CORP	445,592	$33.56M	0.6%	$56.43	+33.1%	COM	912008109
GRAL	GRAIL INC	364,714	$31.22M	0.6%	$16.03	+439.1%	COM	384747101
MRNA	MODERNA INC	743,081	$21.91M	0.4%	$35.49	-23.4%	COM	60770K107
—	TREEHOUSE FOODS INC	468,176	$11.04M	0.2%	$34.63	—	COM	89469A104
SABS	SAB BIOTHERAPEUTICS INC	2,198,457	$8.222M	0.2%	$2.94	+12.0%	COM NEW	78397T202
BALY	BALLYS CORPORATION	447,799	$7.398M	0.1%	$16.54	-1.2%	COMMON STOCK	05875B304
OSCR	OSCAR HEALTH INC	500,000	$7.185M	0.1%	$14.87	+16.4%	CL A	687793109
LXRX	LEXICON PHARMACEUTICALS INC	3,000,000	$3.45M	0.1%	$0.65	+112.0%	COM NEW	528872302
FLG	FLAGSTAR BANK NATIONAL ASSOC	32,119	$404K	0.0%	$10.59	+12.9%	COM NEW	649445400
BHR	BRAEMAR HOTELS & RESORTS INC	25,951	$74,479	0.0%	$11.42	—	COM	10482B101