| BBKNGBooking Holdings Inc. | 14.72% | 123,230 | $519M | added0% | −0.65 pp | 27 q |
| EEXPEExpedia Group, Inc. | 13.66% | 3,253,609 | $482M | added+6% | +1.43 pp | 46 q |
| SSYFSynchrony Financial | 11.88% | 8,400,000 | $419M | held | — | 30 q |
| WWEXWEX Inc. | 11.00% | 1,850,000 | $388M | added+1% | +0.74 pp | 40 q |
U UBERUber Technologies, Inc. | 9.28% | 4,353,700 | $327M | added0% | −0.65 pp | 14 q |
| UUALUnited Airlines Holdings, Inc. | 7.83% | 4,841,050 | $276M | added+6% | +0.84 pp | 41 q |
| DDALDelta Air Lines, Inc. | 6.42% | 4,455,000 | $226M | held | — | 46 q |
| CCVNACarvana Co. | 2.49% | 504,400 | $88M | trimmed−0% | +0.44 pp | 6 q |
| SSCHWThe Charles Schwab Corporation | 2.39% | 1,300,000 | $84M | added+8% | −0.39 pp | 19 q |
| CCARGCarGurus, Inc. Class A | 2.27% | 2,663,956 | $80M | added+19% | +0.42 pp | 3 q |
| CCARAvis Budget Group, Inc. | 2.08% | 835,300 | $73M | trimmed−2% | −0.72 pp | 8 q |
| LLUVSouthwest Airlines Co. | 1.44% | 1,709,192 | $51M | added+11% | +0.05 pp | 19 q |
T TSLATesla, Inc. | 1.43% | 192,300 | $50M | held | — | 3 q |
| AALKAlaska Air Group, Inc. | 1.21% | 945,654 | $43M | trimmed−2% | −0.02 pp | 46 q |
| AABNBAirbnb, Inc. Class A | 1.08% | 299,100 | $38M | trimmed−0% | −0.35 pp | 9 q |
| XXYZBlock, Inc. | 0.95% | 500,000 | $34M | held | — | 6 q |
| WWEDWebster Financial Corp | 0.93% | 700,000 | $33M | added+17% | +0.11 pp | 11 q |
| CCMAComerica Incorporated | 0.85% | 500,000 | $30M | held | — | 7 q |
| AALGTAllegiant Travel Company | 0.80% | 509,884 | $28M | added+1% | 0.00 pp | 25 q |
| SSNCYSun Country Airlines Holdings, Inc. | 0.80% | 2,505,506 | $28M | held | — | 15 q |
| AAVDXAvidXchange Holdings, Inc. | 0.77% | 3,350,000 | $27M | added+29% | −0.22 pp | 11 q |
| AAALAmerican Airlines Group Inc. | 0.64% | 2,000,000 | $22M | held | — | 20 q |
| SSKYWSkywest Inc | 0.58% | 239,941 | $20M | held | — | 9 q |
| MMARMarriott International Class A | 0.56% | 78,800 | $20M | new | +0.56 pp | new |
| JJBLUJetBlue Airways Corp | 0.55% | 2,969,505 | $19M | trimmed−1% | −0.03 pp | 34 q |
| SSABRSabre Corporation | 0.52% | 5,000,000 | $18M | held | — | 9 q |
| VVLRSControladora Vuela Compania De Aviacion, S.a.b. De C.v. | 0.41% | 2,275,330 | $14M | trimmed−23% | −0.18 pp | 28 q |
| TTRIPTripAdvisor, Inc. | 0.37% | 891,622 | $13M | added×10.5 | +0.32 pp | 46 q |
| LLTMLATAM Airlines Group S.A. | 0.35% | 467,500 | $12M | new | +0.35 pp | new |
| UULCCFrontier Group Holdings, Inc. | 0.27% | 1,756,100 | $9M | held | — | 11 q |
| HHHyatt Hotels Corporation | 0.25% | 56,961 | $9M | held | — | 11 q |
| EETSYEtsy, Inc. | 0.22% | 138,250 | $8M | held | — | 10 q |
G GOOGAlphabet Inc. Class C | 0.19% | 39,900 | $7M | added+3% | −0.03 pp | 3 q |
| GGBTGGlobal Business Travel Group, Inc. | 0.16% | 746,730 | $6M | held | — | 5 q |
| TTRVGtrivago N.V. | 0.14% | 2,928,130 | $5M | added+28% | 0.00 pp | 3 q |
| HHTZHertz Global Holdings, Inc | 0.09% | 1,000,571 | $3M | held | — | 7 q |
| CCARTMaplebear Inc. | 0.09% | 82,000 | $3M | added+9% | +0.01 pp | 3 q |
| WWHWyndham Hotels & Resorts, Inc. | 0.06% | 27,000 | $2M | held | — | 6 q |
| SSAVEQSpirit Airlines, Inc. | 0.05% | 767,000 | $2M | added×7.7 | +0.04 pp | 6 q |
| TTCOMTrip.com Group Limited | 0.04% | 24,000 | $1M | added+20% | +0.01 pp | 6 q |
| VVCSAVacasa, Inc. Class A | 0.03% | 318,405 | $894,718 | held | — | 3 q |
| DDASHDoorDash, Inc. Class A | 0.02% | 4,000 | $570,920 | held | — | 4 q |
| LLYFTLyft, Inc. Class A | 0.02% | 55,000 | $701,250 | held | — | 3 q |
P PNCPNC Financial Services Group | 0.02% | 3,000 | $554,550 | new | +0.02 pp | new |
| WWIXWIX.com Ltd. | 0.02% | 3,500 | $585,095 | new | +0.02 pp | new |
| AANGIAngi Inc. Class A | 0.01% | 85,000 | $219,300 | new | +0.01 pp | new |
| CCCLCarnival Corporation Ltd. | 0.01% | 25,500 | $471,240 | added×2.1 | 0.00 pp | 3 q |
| CCFGCitizens Financial Group, Inc. | 0.01% | 7,000 | $287,490 | new | +0.01 pp | new |
| EEBAYeBay Inc | 0.01% | 7,000 | $455,770 | new | +0.01 pp | new |
M METAMeta Platforms, Inc. Class A | 0.01% | 380 | $217,527 | trimmed−62% | −0.01 pp | 2 q |
| PPFSIPennyMac Financial Services, Inc. | 0.01% | 2,500 | $284,925 | new | +0.01 pp | new |
| SSEICSEI Investments Co | 0.01% | 7,500 | $518,925 | new | +0.01 pp | new |
| SSHOPShopify Inc. Class A subordinate voting shares | 0.01% | 5,000 | $400,700 | new | +0.01 pp | new |
| TTFCTruist Financial Corporation | 0.01% | 10,000 | $427,700 | new | +0.01 pp | new |
| FFLEXFlex Ltd. | 0.01% | 9,910 | $331,291 | new | +0.01 pp | new |
| EEBEventbrite, Inc. Class A | 0.00% | 41,000 | $111,930 | added+32% | 0.00 pp | 7 q |
| HHANHawaiian Holdings Inc | — | −2,974,630 | — | exited | −1.16 pp | — |
| CCCitigroup Inc. | — | −12,000 | — | exited | −0.02 pp | — |
W WFCWells Fargo & Co. | — | −10,000 | — | exited | −0.02 pp | — |
| UUPWKUpwork Inc. | — | −30,000 | — | exited | −0.01 pp | — |
V VVISA Inc. | — | −1,800 | — | exited | −0.01 pp | — |
| FFSLYFastly, Inc. Class A | — | −19,000 | — | exited | 0.00 pp | — |
