| EEXPEExpedia Group, Inc. | 12.85% | 3,326,617 | $440M | added+32% | +4.08 pp | 31 q |
| BBKNGBooking Holdings Inc. | 10.52% | 162,000 | $361M | trimmed−0% | +0.01 pp | 12 q |
| TTRIPTripAdvisor, Inc. | 9.82% | 11,702,908 | $337M | added+39% | +3.57 pp | 31 q |
| UUALUnited Airlines Holdings, Inc. | 8.90% | 7,055,291 | $305M | trimmed−8% | −1.16 pp | 26 q |
| SSYFSynchrony Financial | 7.04% | 6,950,000 | $241M | added+6% | +0.52 pp | 15 q |
| WWEXWEX Inc. | 5.94% | 1,000,000 | $204M | added+15% | +1.37 pp | 25 q |
| SSABRSabre Corporation | 5.45% | 15,532,944 | $187M | added+5% | +1.80 pp | 3 q |
| AALGTAllegiant Travel Company | 4.45% | 806,500 | $153M | trimmed−36% | −1.25 pp | 10 q |
| AALKAlaska Air Group, Inc. | 4.26% | 2,811,533 | $146M | added+36% | +1.40 pp | 31 q |
| DDVADaVita Inc. | 4.17% | 1,216,385 | $143M | held | — | 12 q |
| DDALDelta Air Lines, Inc. | 4.10% | 3,500,000 | $141M | trimmed−1% | +0.01 pp | 31 q |
| TTRWHTwin River Worldwide Holdings, Inc. | 4.03% | 2,752,184 | $138M | new | +4.03 pp | new |
| LLUVSouthwest Airlines Co. | 3.40% | 2,500,000 | $117M | trimmed−2% | −0.25 pp | 4 q |
V VVISA Inc. | 2.87% | 450,000 | $98M | held | — | 26 q |
| AAALAmerican Airlines Group Inc. | 2.19% | 4,756,100 | $75M | added×2.4 | +1.25 pp | 5 q |
| SSCHWThe Charles Schwab Corporation | 1.55% | 1,000,000 | $53M | added+11% | +0.31 pp | 4 q |
| TunresolvedTrivago NV | 1.50% | 21,229,796 | $51M | held | — | 17 q |
| PPFSIPennyMac Financial Services, Inc. | 1.32% | 691,600 | $45M | trimmed−9% | −0.36 pp | 9 q |
| SSAVEQSpirit Airlines, Inc. | 1.15% | 1,609,800 | $39M | added+61% | +0.54 pp | 5 q |
| TTRUETrueCar, Inc. | 1.15% | 9,418,804 | $40M | trimmed−9% | −0.80 pp | 25 q |
| JJBLUJetBlue Airways Corp | 0.85% | 2,000,000 | $29M | held | — | 19 q |
| VVLRSControladora Vuela Compania De Aviacion, S.a.b. De C.v. | 0.63% | 1,735,000 | $22M | held | — | 13 q |
| RRRRRed Rock Resorts, Inc. Class A | 0.46% | 634,529 | $16M | trimmed−62% | −0.62 pp | 18 q |
| CCVNACarvana Co. | 0.43% | 61,500 | $15M | trimmed−23% | −0.25 pp | 15 q |
| PPCYOPure Cycle Corporation | 0.33% | 1,000,000 | $11M | held | — | 31 q |
C COFCapital One Financial | 0.17% | 60,000 | $6M | new | +0.17 pp | new |
| DDFSDiscover Financial Services | 0.17% | 65,000 | $6M | new | +0.17 pp | new |
A AXPAmerican Express Company | 0.16% | 45,000 | $5M | new | +0.16 pp | new |
| CCARAvis Budget Group, Inc. | 0.07% | 65,800 | $2M | trimmed−87% | −0.45 pp | 2 q |
| CCARGCarGurus, Inc. Class A | 0.07% | 75,000 | $2M | trimmed−81% | −0.26 pp | 3 q |
| CCHDNChurchill Downs Inc | — | −1,023,720 | — | exited | −6.36 pp | — |
| TunresolvedTwin River Worldwide Holding | — | −2,752,184 | — | exited | −2.74 pp | — |
| BBYDBoyd Gaming Corporation | — | −1,704,537 | — | exited | −1.98 pp | — |
| GGRPNGroupon, Inc. | — | −940,775 | — | exited | −0.73 pp | — |
| PPENNPENN Entertainment, Inc. | — | −201,300 | — | exited | −0.55 pp | — |
| TTREELendingTree, Inc. | — | −30,000 | — | exited | −0.35 pp | — |
| CCHGGChegg, Inc. | — | −125,000 | — | exited | −0.34 pp | — |
| GGLPIGaming and Leisure Properties, Inc. | — | −243,869 | — | exited | −0.34 pp | — |
| EEVEREverQuote, Inc. Class A | — | −125,000 | — | exited | −0.18 pp | — |
| SSKYWSkywest Inc | — | −143,984 | — | exited | −0.16 pp | — |
| AANGIAngi Inc. Class A | — | −200,000 | — | exited | −0.08 pp | — |
| MMMYTMakeMyTrip Limited | — | −131,288 | — | exited | −0.08 pp | — |
| MMGPMGM Growth Properties LLC Class A representing limited liability company interests | — | −43,300 | — | exited | −0.05 pp | — |
| DDESPDespegar.com Corp | — | −183,526 | — | exited | −0.04 pp | — |
| TTCOMTrip.com Group Limited | — | −20,000 | — | exited | −0.02 pp | — |
| ZZIXIZix Corporation | — | −71,900 | — | exited | −0.02 pp | — |
| FFLEXFlex Ltd. | — | −9,910 | — | exited | 0.00 pp | — |
