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SESSA CAPITAL IM, L.P.
Sessa Capital IM is based out of New York. Sessa Capital IM is a hedge fund with 5 clients and discretionary assets under management (AUM) of $4,720,055,377 (Form ADV from 2025-03-31). Their last reported 13F filing for Q2 2025 included $3,414,547,293 in managed 13F securities
and a top 10 holdings concentration of 86.35%. Sessa Capital IM's largest holding is Warner Bros. Discovery Inc with shares held of 50,624,148. Whalewisdom has at least 43 13F filings, and 20 Form 4 filings
Business Description
Sessa Capital is a registered investment advisor with its principal place of business in New York, NY. The predecessor to Sessa Capital, Sissa Capital IM, L.P. (“Sissa Capital”), was originally formed in 2007. Sissa Capital was dormant from 2010 to 2012 and the name was changed to Sessa Capital in 2012. John Petry is the principal owner of Sessa Capital.
Sessa Capital provides investment advisory and management services on a discretionary basis to Sessa Capital (Master), L.P., Sessa Capital Special Opportunity Fund II, L.P., and Sessa Capital Special Opportunity Fund III, L.P. (each, the “Fund,” collectively, the “Funds”). Sessa Capital (Master), L.P. is a private pooled investment vehicle organized in a master-feeder structure; Sessa Capital also provides limited advisory and management services on a discretionary basis to Sessa Capital, L.P. and Sessa Capital (International), Ltd., which are the feeder funds in the master- feeder structure. Sessa Capital Special Opportunity Fund II, L.P. and Sessa Capital Special Opportunity Fund III, L.P. are private pooled investment vehicles organized as domestic limited partnerships.
Investment Strategy
Sessa Capital aims to outperform broad equity indices over each investment cycle by employing a flexible and opportunistic approach to build a concentrated, long-biased investment portfolio. Their gross and net exposure typically ranges between 100-200% and 25-80%, respectively, but this can vary based on market conditions. A key aspect of their long investment strategy is identifying opportunities that can exceed 15% of a Fund's net asset value at the time of investment.
The success of their engaged investment strategy depends on factors like undervalued securities, sufficient share acquisition at attractive prices, positive responses from company management and other shareholders, and favorable market reactions to company actions following shareholder engagement. However, the strategies may be ineffective due to opposition from management, boards, or shareholders, governmental intervention, defensive strategies by the company, corporate governance mechanisms, and disclosure requirements.
Owners
- SESSA CAPITAL IM GP, LLC - GENERAL PARTNER
- PETRY, JOHN, ERIC - SOLE LIMITED PARTNER, SOLE MEMBER AND MANAGER OF SESSA CAPITAL IM GP, LLC
- ANDRADE, SERGIO, OLIVEIRA - CHIEF FINANCIAL OFFICER
- HONG, JAE - CHIEF COMPLIANCE OFFICER, CHIEF OPERATING OFFICER, AND PRESIDENT Click on the Ownership/Private Fund Data tab for more details.
Other Contact Information
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2025-06-30
Top Buys (13F)
| Name | % Change |
|---|---|
| ILMN Illumina Inc | 13.2% |
| HUM Humana, Inc | 11.28% |
| COF Capital One Financia | 11.28% |
| APD Air Products & Chemi | 5.44% |
| WBD Warner Bros. Discove | 4.62% |
2025-06-30
Top Sells (13F)
| Name | % Change |
|---|---|
| DFS Discover Financial S | 11.83% |
| ABT Abbott Laboratories | 9.35% |
| CCK Crown Holdings, Inc. | 7% |
| GTX Garrett Motion Inc | 3.33% |
| T AT&T, Inc. | 3.1% |
2025-06-30
13F Holdings Summary
| Name | % of Portfolio |
|---|---|
| WBD Warner Bros. Discove | 16.99% |
| HUM Humana, Inc | 15.21% |
| ILMN Illumina Inc | 13.2% |
| COF Capital One Financia | 11.28% |
| PCG PG&E Corp. | 10.03% |
2025-06-30
13F Activity
| Market Value | $3.41b, Prior: $2.56b |
| Inflows (Outflows) as % of Total MV | +17.4498% |
| New Purchases | 6 stocks |
| Added To | 4 stocks |
| Sold out of | 8 stocks |
| Reduced holdings in | 4 stocks |
| Top 10 Holdings % | 86.35% |
| Turnover %[1] | 37.84% |
| Turnover Alt %[2] | 28.08% |
| Time Held Top 20 | 3.9 quarters |
| Time Held Top 10 | 2.7 quarters |
| Time Held All | 5.69 quarters |
[1]: Turnover is calculated by taking the # of new holdings (initial purchases) + the # of positions sold out of (not just reduced) divided by the total # of holdings for the quarter.
[2]: Alt Turnover is calculated by taking either the total MV of new purchases or the MV of securities sold, whichever is less, divided by the total MV of the fund.
2025-06-30
13F Sector Allocation Over Time
limited to past 4 quarters. Subscribe to see all available data
2025-06-30
Analysis
Top 20 equal-weighted holdings. Performance numbers calculated through 2025-06-30