Quarterly 13F snapshot: US-listed longs only, no performance figures — 13F data cannot support them.
Reported portfolio value by quarter (53 quarters reported)
$3.56B in Q2 2013 → $4.03B now. Hover for any quarter.
As reported for the quarter ended June 30, 2026. Activity is the change in share count since the prior quarter's filing.
| Holding | % of portfolio | Activity | Shares | Value |
|---|---|---|---|---|
| UA United Airls Hldgs Inc | 18.1% | Added 7.3% | 5,359,741 | $729M |
| Synchrony Financial | 14.4% | Unchanged | 7,612,137 | $579M |
| Expedia Group Inc | 12.0% | Trimmed 2.9% | 1,895,847 | $485M |
| Delta Air Lines Inc | 8.1% | Trimmed 0.9% | 3,482,745 | $326M |
| Wex Inc | 7.9% | Unchanged | 2,254,984 | $318M |
| Uber Technologies Inc | 7.5% | Added 13% | 4,217,700 | $304M |
| SA Southwest Airls Co | 6.3% | Trimmed 6.0% | 4,905,756 | $252M |
| Booking Holdings Inc | 4.4% | Added 2230% | 992,100 | $177M |
| Carvana Co | 2.8% | Added 400% | 1,739,360 | $114M |
| Airbnb Inc | 2.7% | Added 0.3% | 750,000 | $107M |
| Allegiant Travel Co | 2.5% | Trimmed 0.2% | 844,632 | $99.3M |
| Alaska Air Group Inc | 2.0% | Trimmed 0.1% | 1,579,636 | $82.5M |
| Hyatt Hotels Corp | 1.6% | Unchanged | 338,500 | $65.6M |
| Tripadvisor Inc | 1.4% | Unchanged | 4,072,054 | $55.8M |
| Visa Inc | 1.1% | Added 60% | 127,600 | $43.8M |
| Meta Platforms Inc | 0.8% | New | 54,983 | $31M |
| Zillow Group Inc | 0.6% | New | 823,000 | $25.9M |
| TN Trivago N V | 0.6% | Added 2.4% | 4,292,733 | $23.5M |
| Lyft Inc | 0.6% | Trimmed 49% | 1,605,000 | $23.4M |
| Jetblue Airways Corp | 0.6% | Trimmed 10% | 4,000,000 | $22.9M |
| SC Schwab Charles Corp | 0.6% | Trimmed 3.3% | 245,000 | $22.6M |
| Ryanair Holdings PLC | 0.5% | Trimmed 1.4% | 340,000 | $22M |
| Grupo Aeromexico Sab De Cv | 0.5% | New | 1,189,824 | $21.4M |
| American Airlines Group Inc | 0.4% | Trimmed 20% | 1,000,000 | $18.1M |
| Mastercard Incorporated | 0.4% | New | 30,000 | $15.4M |
| MI Marriott Intl Inc New | 0.4% | Trimmed 56% | 40,000 | $14.8M |
| RA Republic Awys Hldgs Inc | 0.3% | Unchanged | 506,844 | $10.6M |
| Alphabet Inc | 0.2% | Trimmed 29% | 25,200 | $8.9M |
| Bill Holdings Inc | 0.2% | Trimmed 50% | 200,000 | $7.23M |
| Skywest Inc | 0.1% | Trimmed 85% | 54,881 | $5.45M |
| CH Copa Holdings Sa | 0.1% | Trimmed 87% | 20,115 | $3.13M |
| Cars Com Inc | 0.1% | Unchanged | 246,299 | $2.69M |
| HG Hertz Global Hldgs Inc | 0.1% | Trimmed 35% | 911,001 | $2.06M |
| Flex Ltd | 0.0% | New | 9,910 | $1.61M |
| Zoom Communications Inc | 0.0% | Added 183% | 17,000 | $1.47M |
| CF Citizens Finl Group Inc | 0.0% | Added 25% | 20,000 | $1.4M |
| Citigroup Inc Put | 0.0% | Unchanged | 10,000 | $1.4M |
| Citigroup Inc | 0.0% | Unchanged | 10,000 | $1.4M |
| Delta Air Lines Inc Put | 0.0% | Trimmed 42% | 10,500 | $983K |
| Maplebear Inc | 0.0% | Unchanged | 20,336 | $963K |
| Ebay Inc. | 0.0% | New | 8,000 | $894K |
| Alphabet Inc Put | 0.0% | Trimmed 93% | 2,500 | $883K |
| Trip Com Group Ltd | 0.0% | Unchanged | 13,523 | $539K |
| TF Truist Finl Corp | 0.0% | Trimmed 33% | 10,000 | $498K |
| Cargurus Inc | 0.0% | Unchanged | 10,376 | $354K |
| AH Affirm Hldgs Inc | 0.0% | New | 4,000 | $326K |
| PF Pnc Finl Svcs Group Inc | 0.0% | New | 1,000 | $246K |
| Nextpower Inc | 0.0% | Unchanged | 1,726 | $206K |
What changed each quarter, from the filings' own share counts. Largest moves first; most recent 8 quarters.
quarter ended June 30, 2026 · filed August 14, 2026
| Company | Action | Shares changed | Value of change | % of portfolio |
|---|---|---|---|---|
| Booking Holdings Inc | Added | +949,527 | +$169M | 4.4% |
| Carvana Co | Added | +1,391,488 | +$91.6M | 2.8% |
| UA United Airls Hldgs Inc | Added | +362,891 | +$49.3M | 18.1% |
| Uber Technologies Inc | Added | +480,727 | +$34.7M | 7.5% |
| Meta Platforms Inc | New | +54,983 | +$31M | 0.8% |
| Skywest Inc | Trimmed | −303,042 | −$30.1M | 0.1% |
| Avis Budget Group Inc | Exited | −200,000 | −$29.2M | — |
| Zillow Group Inc | New | +823,000 | +$25.9M | 0.6% |
| SC Sun Ctry Airls Hldgs Inc | Exited | −1,467,800 | −$24.2M | — |
| Lyft Inc | Trimmed | −1,525,000 | −$22.3M | 0.6% |
Showing the 10 largest of 44 changes.
quarter ended March 31, 2026 · filed May 15, 2026
| Company | Action | Shares changed | Value of change | % of portfolio |
|---|---|---|---|---|
| Uber Technologies Inc | Added | +2,741,773 | +$197M | 7.8% |
| Booking Holdings Inc | Added | +18,086 | +$76.1M | 5.2% |
| SC Schwab Charles Corp | Trimmed | −658,700 | −$61.9M | 0.7% |
| WF Webster Finl Corp | Trimmed | −705,500 | −$49M | 0.1% |
| Grupo Aeromexico Sab De Cv | Exited | −13,850,410 | −$30.4M | — |
| Visa Inc | Added | +78,960 | +$23.9M | 0.7% |
| Tripadvisor Inc | Added | +1,891,490 | +$20.2M | 1.3% |
| Cars Com Inc | Trimmed | −2,451,349 | −$19.9M | 0.1% |
| Allegiant Travel Co | Added | +222,110 | +$18M | 2.0% |
| MI Marriott Intl Inc New | Trimmed | −44,900 | −$14.7M | 0.9% |
Showing the 10 largest of 47 changes.
quarter ended December 31, 2025 · filed February 17, 2026
| Company | Action | Shares changed | Value of change | % of portfolio |
|---|---|---|---|---|
| Bill Holdings Inc | Trimmed | −1,600,000 | −$87.3M | 0.5% |
| Expedia Group Inc | Trimmed | −251,554 | −$71.3M | 14.6% |
| Airbnb Inc | Added | +510,600 | +$69.3M | 2.6% |
| Wex Inc | Added | +400,500 | +$59.7M | 8.9% |
| Booking Holdings Inc | Trimmed | −10,563 | −$56.6M | 3.5% |
| Avidxchange Holdings Inc | Exited | −3,299,292 | −$32.8M | — |
| Grupo Aeromexico Sab De Cv | New | +13,850,410 | +$30.4M | 0.8% |
| Uber Technologies Inc | Added | +341,200 | +$27.9M | 2.1% |
| Alaska Air Group Inc | Added | +462,198 | +$23.2M | 2.1% |
| UA United Airls Hldgs Inc | Exited | −149,000 | −$14.4M | — |
Showing the 10 largest of 59 changes.
quarter ended September 30, 2025 · filed November 14, 2025
| Company | Action | Shares changed | Value of change | % of portfolio |
|---|---|---|---|---|
| Bill Holdings Inc | New | +1,925,000 | +$102M | 3.0% |
| Uber Technologies Inc | New | +654,000 | +$64.1M | 1.9% |
| Sabre Corp | Exited | −19,350,000 | −$61.1M | — |
| Carvana Co | Trimmed | −110,600 | −$41.7M | 3.9% |
| Expedia Group Inc | Trimmed | −187,750 | −$40.1M | 13.8% |
| SA Southwest Airls Co | Trimmed | −967,300 | −$30.9M | 4.6% |
| Lyft Inc | Added | +1,350,000 | +$29.7M | 2.1% |
| Airbnb Inc | Added | +217,500 | +$26.4M | 0.8% |
| Avis Budget Group | Trimmed | −120,000 | −$19.3M | 0.9% |
| Booking Holdings Inc | Trimmed | −2,776 | −$15M | 5.5% |
Showing the 10 largest of 55 changes.
quarter ended June 30, 2025 · filed August 14, 2025
| Company | Action | Shares changed | Value of change | % of portfolio |
|---|---|---|---|---|
| Uber Technologies Inc | Exited | −4,529,829 | −$330M | — |
| Cargurus Inc | Trimmed | −2,474,165 | −$82.8M | 0.4% |
| Avis Budget Group | Trimmed | −431,770 | −$73M | 1.8% |
| Hyatt Hotels Corp | Added | +314,300 | +$43.9M | 1.7% |
| Carvana Co | Added | +89,972 | +$30.3M | 5.1% |
| Sabre Corp | Added | +7,082,948 | +$22.4M | 2.0% |
| MI Marriott Intl Inc New | Added | +57,000 | +$15.6M | 1.2% |
| Cars Com Inc | New | +1,200,000 | +$14.2M | 0.5% |
| AA American Airls Group Inc | New | +1,250,000 | +$14M | 0.5% |
| Latam Airlines Group Sa | Trimmed | −302,500 | −$12.3M | 0.2% |
Showing the 10 largest of 51 changes.
quarter ended March 31, 2025 · filed May 15, 2025
| Company | Action | Shares changed | Value of change | % of portfolio |
|---|---|---|---|---|
| SA Southwest Airls Co | Added | +4,204,300 | +$141M | 6.6% |
| Tesla Inc | Exited | −192,300 | −$77.7M | — |
| Uber Technologies Inc | Added | +663,000 | +$48.3M | 11.0% |
| Block Inc | Exited | −505,500 | −$43M | — |
| DA Delta Air Lines Inc Del | Trimmed | −891,000 | −$38.8M | 5.2% |
| AA American Airls Group Inc | Exited | −2,000,000 | −$34.9M | — |
| Comerica Inc | Exited | −500,000 | −$30.9M | — |
| Lyft Inc | Added | +1,450,000 | +$17.2M | 0.6% |
| Carvana Co | Added | +72,960 | +$15.3M | 2.6% |
| Alaska Air Group Inc | Added | +224,487 | +$11M | 1.8% |
Showing the 10 largest of 56 changes.
quarter ended December 31, 2024 · filed February 14, 2025
| Company | Action | Shares changed | Value of change | % of portfolio |
|---|---|---|---|---|
| Booking Holdings Inc | Trimmed | −85,469 | −$425M | 5.5% |
| Expedia Group Inc | Trimmed | −878,765 | −$164M | 13.1% |
| Synchrony Financial | Trimmed | −1,000,000 | −$65M | 14.2% |
| Carvana Co | Trimmed | −200,160 | −$40.7M | 1.8% |
| Airbnb Inc | Exited | −299,100 | −$37.9M | — |
| Uber Technologies Inc | Trimmed | −486,871 | −$29.4M | 6.9% |
| SC Schwab Charles Corp | Trimmed | −395,000 | −$29.2M | 2.0% |
| Sabre Corp | Added | +5,866,722 | +$21.4M | 1.2% |
| Tripadvisor Inc | Added | +1,350,378 | +$19.9M | 1.0% |
| Ryanair Holdings PLC | New | +345,000 | +$15M | 0.4% |
Showing the 10 largest of 51 changes.
quarter ended September 30, 2024 · filed November 14, 2024
| Company | Action | Shares changed | Value of change | % of portfolio |
|---|---|---|---|---|
| Hawaiian Holdings Inc | Exited | −2,974,630 | −$37M | — |
| Expedia Group Inc | Added | +169,964 | +$25.2M | 13.7% |
| MI Marriott Intl Inc New | New | +78,800 | +$19.6M | 0.6% |
| UA United Airls Hldgs Inc | Added | +282,000 | +$16.1M | 7.8% |
| Cargurus Inc | Added | +417,229 | +$12.5M | 2.3% |
| Latam Airlines Group Sa | New | +467,500 | +$12.3M | 0.4% |
| Tripadvisor Inc | Added | +806,622 | +$11.7M | 0.4% |
| SC Schwab Charles Corp | Added | +100,000 | +$6.48M | 2.4% |
| Avidxchange Holdings Inc | Added | +750,000 | +$6.08M | 0.8% |
| SA Southwest Airls Co | Added | +166,574 | +$4.94M | 1.4% |
Showing the 10 largest of 44 changes.
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