| EEXPEExpedia Group, Inc. | 14.28% | 2,863,500 | $435M | trimmed−17% | +0.98 pp | 43 q |
| BBKNGBooking Holdings Inc. | 13.98% | 120,000 | $426M | held | — | 24 q |
| WWEXWEX Inc. | 11.82% | 1,850,000 | $360M | trimmed−0% | −1.23 pp | 37 q |
U UBERUber Technologies, Inc. | 10.92% | 5,400,000 | $332M | trimmed−10% | +0.60 pp | 11 q |
| SSYFSynchrony Financial | 10.54% | 8,400,000 | $321M | held | — | 27 q |
| DDALDelta Air Lines, Inc. | 5.89% | 4,455,000 | $179M | trimmed−1% | −0.34 pp | 43 q |
| CCARAvis Budget Group, Inc. | 4.94% | 848,959 | $150M | added+16% | +0.02 pp | 5 q |
| TTRIPTripAdvisor, Inc. | 3.32% | 4,700,000 | $101M | trimmed−10% | +0.10 pp | 43 q |
| UUALUnited Airlines Holdings, Inc. | 3.01% | 2,223,400 | $92M | added+7% | −0.27 pp | 38 q |
| SSCHWThe Charles Schwab Corporation | 2.71% | 1,200,000 | $83M | added+7% | +0.40 pp | 16 q |
A AXPAmerican Express Company | 2.15% | 350,000 | $66M | held | — | 13 q |
| SSNCYSun Country Airlines Holdings, Inc. | 1.43% | 2,767,000 | $44M | added+96% | +0.65 pp | 12 q |
| LLUVSouthwest Airlines Co. | 1.41% | 1,485,000 | $43M | trimmed−1% | −0.11 pp | 16 q |
| AABNBAirbnb, Inc. Class A | 1.34% | 300,000 | $41M | held | — | 6 q |
| AALKAlaska Air Group, Inc. | 1.32% | 1,026,000 | $40M | trimmed−5% | −0.18 pp | 43 q |
| XXYZBlock, Inc. | 1.27% | 500,000 | $39M | held | — | 3 q |
| AAALAmerican Airlines Group Inc. | 1.13% | 2,510,600 | $34M | added0% | −0.07 pp | 17 q |
| AAVDXAvidXchange Holdings, Inc. | 1.12% | 2,750,000 | $34M | added+10% | +0.23 pp | 8 q |
| CCMAComerica Incorporated | 0.92% | 500,000 | $28M | held | — | 4 q |
| SSABRSabre Corporation | 0.72% | 5,000,000 | $22M | held | — | 6 q |
| HHANHawaiian Holdings Inc | 0.71% | 1,520,000 | $22M | new | +0.71 pp | new |
| CCVNACarvana Co. | 0.70% | 402,000 | $21M | held | — | 3 q |
| AALGTAllegiant Travel Company | 0.69% | 253,500 | $21M | added+1% | −0.03 pp | 22 q |
| VVLRSControladora Vuela Compania De Aviacion, S.a.b. De C.v. | 0.68% | 2,205,000 | $21M | added×40.3 | +0.67 pp | 25 q |
| WWEDWebster Financial Corp | 0.63% | 375,000 | $19M | held | — | 8 q |
| SSKYWSkywest Inc | 0.42% | 244,441 | $13M | added+3% | +0.05 pp | 6 q |
| HHTZHertz Global Holdings, Inc | 0.38% | 1,112,571 | $12M | held | — | 4 q |
| JJBLUJetBlue Airways Corp | 0.36% | 2,000,000 | $11M | held | — | 31 q |
| UULCCFrontier Group Holdings, Inc. | 0.31% | 1,756,100 | $10M | trimmed−12% | −0.05 pp | 8 q |
| HHHyatt Hotels Corporation | 0.24% | 56,961 | $7M | trimmed−53% | −0.24 pp | 8 q |
| GGBTGGlobal Business Travel Group, Inc. | 0.16% | 770,000 | $5M | added+42% | +0.05 pp | 2 q |
G GOOGLAlphabet Inc. Class A | 0.14% | 30,500 | $4M | added+15% | +0.01 pp | 4 q |
| WWHWyndham Hotels & Resorts, Inc. | 0.07% | 27,000 | $2M | held | — | 3 q |
| SSAVEQSpirit Airlines, Inc. | 0.05% | 100,000 | $2M | held | — | 3 q |
| EETSYEtsy, Inc. | 0.04% | 13,250 | $1M | trimmed−90% | −0.29 pp | 7 q |
| EEBEventbrite, Inc. Class A | 0.04% | 141,000 | $1M | trimmed−4% | −0.01 pp | 4 q |
| WWIXWIX.com Ltd. | 0.04% | 9,000 | $1M | added+64% | +0.02 pp | 2 q |
| DDASHDoorDash, Inc. Class A | 0.03% | 8,500 | $840,565 | new | +0.03 pp | new |
M METAMeta Platforms, Inc. Class A | 0.03% | 3,000 | $1M | trimmed−66% | −0.07 pp | 4 q |
| TTCOMTrip.com Group Limited | 0.02% | 20,000 | $720,200 | held | — | 3 q |
| CCHGGChegg, Inc. | 0.01% | 18,000 | $204,480 | new | +0.01 pp | new |
| SSTTState Street Corporation | 0.01% | 3,800 | $294,348 | new | +0.01 pp | new |
| CCARGCarGurus, Inc. Class A | — | −1,892,800 | — | exited | −1.24 pp | — |
| TunresolvedTrivago NV | — | −22,085,827 | — | exited | −0.87 pp | — |
| GGDOTGreen Dot Corporation | — | −900,000 | — | exited | −0.47 pp | — |
| SSOFISoFi Technologies, Inc. | — | −750,000 | — | exited | −0.22 pp | — |
| MMARMarriott International Class A | — | −22,800 | — | exited | −0.17 pp | — |
| VunresolvedVacasa Inc | — | −9,413,300 | — | exited | −0.16 pp | — |
| ZZZillow Group, Inc. Class C | — | −18,000 | — | exited | −0.03 pp | — |
J JPMJPMorgan Chase & Co. | — | −3,000 | — | exited | −0.02 pp | — |
| MMAMastercard Incorporated | — | −1,000 | — | exited | −0.01 pp | — |
