Q2 2025 Holdings
Filed 2025-08-14 | 57 holdings | $3.1B | 13F-HR | View on SEC ↗ · Holdings Table ↗
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| Issuer | Class | CUSIP | Value ↓ | Shares | % Portfolio |
|---|---|---|---|---|---|
| Synchrony Financial(SYF) | COM | 87165B103 | $500.6M | 7,500,000 | 16.3% |
| Expedia Group Inc(EXPE) | COM NEW | 30212P303 | $402.8M | 2,387,750 | 13.1% |
| United Airls Hldgs Inc(UAL) | COM | 910047109 | $395.7M | 4,968,850 | 12.9% |
| WEX Inc(WEX) | COM | 96208T104 | $271.9M | 1,851,100 | 8.9% |
| Booking Holdings Inc(BKNG) | COM | 09857L108 | $219.0M | 37,826 | 7.1% |
| Southwest Airls Co(LUV) | COM | 844741108 | $192.0M | 5,917,492 | 6.3% |
| Delta AIR Lines Inc del(DAL) | COM NEW | 247361702 | $175.3M | 3,564,000 | 5.7% |
| Carvana Co(CVNA) | CL A | 146869102 | $157.4M | 467,172 | 5.1% |
| Schwab Charles Corp(SCHW) | COM | 808513105 | $82.9M | 909,000 | 2.7% |
| Sabre Corp(SABR) | COM | 78573M104 | $61.1M | 19,350,000 | 2.0% |
| Alaska AIR Group Inc(ALK) | COM | 011659109 | $55.4M | 1,119,302 | 1.8% |
| Avis Budget Group(CAR) | COM | 053774105 | $54.1M | 320,000 | 1.8% |
| Hyatt Hotels Corp(H) | COM CL A | 448579102 | $51.8M | 371,261 | 1.7% |
| Webster Finl Corp(WBS) | COM | 947890109 | $41.0M | 750,000 | 1.3% |
| Tripadvisor Inc(TRIP) | COM | 896945201 | $37.8M | 2,896,475 | 1.2% |
| Skywest Inc(SKYW) | COM | 830879102 | $37.4M | 363,451 | 1.2% |
| Marriott Intl Inc New(MAR) | CL A | 571903202 | $37.2M | 136,100 | 1.2% |
| Avidxchange Holdings Inc(AVDX) | COM | 05368X102 | $32.3M | 3,300,000 | 1.1% |
| Allegiant Travel Co(ALGT) | COM | 01748X102 | $32.1M | 584,996 | 1.0% |
| Lyft Inc(LYFT) | CL A COM | 55087P104 | $30.0M | 1,905,000 | 1.0% |
| Jetblue Awys Corp(JBLU) | COM | 477143101 | $23.2M | 5,487,425 | 0.8% |
| SUN Ctry Airls Hldgs Inc(SNCY) | COM | 866683105 | $23.0M | 1,959,372 | 0.7% |
| Ryanair Holdings PLC(RYAAY) | SPONSORED ADR | 783513203 | $19.9M | 345,000 | 0.6% |
| Hertz Global Hldgs Inc(HTZ) | COM NEW | 42806J700 | $15.6M | 2,291,357 | 0.5% |
| Cars COM Inc(CARS) | COM | 14575E105 | $14.2M | 1,200,000 | 0.5% |
| American Airls Group Inc(AAL) | COM | 02376R102 | $14.0M | 1,250,000 | 0.5% |
| Trivago N V(TRVG) | SPON ADS A SHS N | 89686D303 | $13.5M | 3,576,869 | 0.4% |
| United Airls Hldgs Inc(UAL)Put | COM | 910047109 | $11.9M | 149,000 | 0.4% |
| Cargurus Inc(CARG) | COM CL A | 141788109 | $11.3M | 336,791 | 0.4% |
| Frontier Group Hldgs Inc(ULCC) | COM | 35909R108 | $7.9M | 2,181,100 | 0.3% |
| Latam Airlines Group SA(LTM) | SPONSORED ADR | 51817R205 | $6.7M | 165,000 | 0.2% |
| Global Business Travel Group(GBTG) | COM CL A | 37890B100 | $6.5M | 1,024,014 | 0.2% |
| Alphabet Inc(GOOG) | CAP STK CL C | 02079K107 | $6.2M | 34,900 | 0.2% |
| Copa Holdings SA(CPA) | CL A | P31076105 | $5.8M | 53,000 | 0.2% |
| Maplebear Inc(CART) | COM | 565394103 | $4.1M | 91,500 | 0.1% |
| Bank New York Mellon Corp(BK) | COM | 064058100 | $2.4M | 26,364 | 0.1% |
| Wyndham Hotels & Resorts Inc(WH) | COM | 98311A105 | $2.2M | 27,000 | 0.1% |
| Mesa AIR Group Inc | COM NEW | 590479135 | $2.1M | 2,248,190 | 0.1% |
| Amazon COM Inc(AMZN) | COM | 023135106 | $1.4M | 6,300 | 0.0% |
| Visa Inc(V) | COM CL A | 92826C839 | $1.0M | 2,840 | 0.0% |
| Sofi Technologies Inc(SOFI) | COM | 83406F102 | $1.0M | 55,000 | 0.0% |
| Doordash Inc(DASH) | CL A | 25809K105 | $986.0K | 4,000 | 0.0% |
| Carvana Co(CVNA)Put | CL A | 146869102 | $943.5K | 2,800 | 0.0% |
| Citigroup Inc(C)Put | COM NEW | 172967424 | $851.2K | 10,000 | 0.0% |
| Citigroup Inc(C) | COM NEW | 172967424 | $851.2K | 10,000 | 0.0% |
| Grab Holdings Limited(GRAB) | CLASS A ORD | G4124C109 | $809.8K | 161,000 | 0.0% |
| Bank America Corp(BAC) | COM | 060505104 | $790.2K | 16,700 | 0.0% |
| Pinterest Inc(PINS) | CL A | 72352L106 | $537.9K | 15,000 | 0.0% |
| Mastercard Incorporated(MA) | CL A | 57636Q104 | $505.7K | 900 | 0.0% |
| Sofi Technologies Inc(SOFI)Put | COM | 83406F102 | $500.8K | 27,500 | 0.0% |