The Securities and Exchange Commission has not necessarily reviewed the information in this filing and has not determined if it is accurate and complete.
The reader should not assume that the information is accurate and complete.

UNITED STATES SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM 13F

FORM 13F INFORMATION TABLE
OMB APPROVAL
OMB Number: 3235-0006
Estimated average burden
hours per response: 23.8
COLUMN 1 COLUMN 2 COLUMN 3 COLUMN 4 COLUMN 5 COLUMN 6 COLUMN 7 COLUMN 8
VALUE SHRS OR SH/ PUT/ INVESTMENT OTHER VOTING AUTHORITY
NAME OF ISSUER TITLE OF CLASS CUSIP (x$1000) PRN AMT PRN CALL DISCRETION MANAGER SOLE SHARED NONE
ALASKA AIR GROUP INC COM 011659109 75,481 2,060,625 SH   SOLE N/A 2,060,625 0 0
ALLEGIANT TRAVEL CO COM 01748X102 150,413 1,255,535 SH   SOLE N/A 1,255,535 0 0
AMERICAN AIRLS GROUP INC COM 02376R102 24,814 2,019,000 SH   SOLE N/A 2,019,000 0 0
ANGI HOMESERVICES INC COM CL A 00183L102 2,219 200,000 SH   SOLE N/A 200,000 0 0
AVIS BUDGET GROUP COM 053774105 13,735 521,850 SH   SOLE N/A 521,850 0 0
BOOKING HOLDINGS INC COM 09857L108 277,301 162,100 SH   SOLE N/A 162,100 0 0
BOYD GAMING CORP COM 103304101 52,312 1,704,537 SH   SOLE N/A 1,704,537 0 0
CARGURUS INC COM CL A 141788109 8,652 400,000 SH   SOLE N/A 400,000 0 0
CARVANA CO CL A 146869102 17,845 80,000 SH   SOLE N/A 80,000 0 0
CHEGG INC COM 163092109 8,930 125,000 SH   SOLE N/A 125,000 0 0
CHURCHILL DOWNS INC COM 171484108 167,706 1,023,720 SH   SOLE N/A 1,023,720 0 0
CONTROLADORA VUELA COMP DE A SPON ADR RP 10 21240E105 12,509 1,735,000 SH   SOLE N/A 1,735,000 0 0
DAVITA INC COM 23918K108 104,183 1,216,385 SH   SOLE N/A 1,216,385 0 0
DELTA AIR LINES INC DEL COM NEW 247361702 107,839 3,526,450 SH   SOLE N/A 3,526,450 0 0
DESPEGAR COM CORP ORD SHS G27358103 1,167 183,526 SH   SOLE N/A 183,526 0 0
EVERQUOTE INC COM CL A 30041R108 4,830 125,000 SH   SOLE N/A 125,000 0 0
EXPEDIA GROUP INC COM NEW 30212P303 231,390 2,523,617 SH   SOLE N/A 2,523,617 0 0
FLEX LTD ORD Y2573F102 110 9,910 SH   SOLE N/A 9,910 0 0
GAMING & LEISURE PPTYS INC COM 36467J108 9,006 243,869 SH   SOLE N/A 243,869 0 0
GROUPON INC COM NEW 399473206 19,192 940,775 SH   SOLE N/A 940,775 0 0
JETBLUE AWYS CORP COM 477143101 22,660 2,000,000 SH   SOLE N/A 2,000,000 0 0
LENDINGTREE INC NEW COM 52603B107 9,207 30,000 SH   SOLE N/A 30,000 0 0
MAKEMYTRIP LIMITED MAURITIUS SHS V5633W109 2,017 131,288 SH   SOLE N/A 131,288 0 0
MGM GROWTH PPTYS LLC CL A COM 55303A105 1,212 43,300 SH   SOLE N/A 43,300 0 0
PENN NATL GAMING INC COM 707569109 14,635 201,300 SH   SOLE N/A 201,300 0 0
PENNYMAC FINL SVCS INC NEW COM 70932M107 44,264 761,600 SH   SOLE N/A 761,600 0 0
PURECYCLE CORP COM NEW 746228303 9,010 1,000,000 SH   SOLE N/A 1,000,000 0 0
RED ROCK RESORTS INC CL A 75700L108 28,550 1,669,619 SH   SOLE N/A 1,669,619 0 0
SABRE CORP COM 78573M104 96,192 14,776,044 SH   SOLE N/A 14,776,044 0 0
SCHWAB CHARLES CORP COM 808513105 32,607 900,000 SH   SOLE N/A 900,000 0 0
SKYWEST INC COM 830879102 4,299 143,984 SH   SOLE N/A 143,984 0 0
SOUTHWEST AIRLS CO COM 844741108 96,143 2,563,800 SH   SOLE N/A 2,563,800 0 0
SPIRIT AIRLS INC COM 848577102 16,100 1,000,000 SH   SOLE N/A 1,000,000 0 0
SYNCHRONY FINANCIAL COM 87165B103 172,068 6,575,000 SH   SOLE N/A 6,575,000 0 0
TRIP COM GROUP LTD ADS 89677Q107 623 20,000 SH   SOLE N/A 20,000 0 0
TRIPADVISOR INC COM 896945201 164,855 8,415,258 SH   SOLE N/A 8,415,258 0 0
TRIVAGO N V SPON ADS A SHS 89686D105 32,906 21,229,796 SH   SOLE N/A 21,229,796 0 0
TRUECAR INC COM 89785L107 51,498 10,299,504 SH   SOLE N/A 10,299,504 0 0
TWIN RIV WORLDWIDE HLDGS INC COM 90171V204 72,300 2,752,184 SH   SOLE N/A 2,752,184 0 0
UNITED AIRLS HLDGS INC COM 910047109 265,431 7,638,291 SH   SOLE N/A 7,638,291 0 0
VISA INC COM CL A 92826C839 89,987 450,000 SH   SOLE N/A 450,000 0 0
WEX INC COM 96208T104 120,626 868,000 SH   SOLE N/A 868,000 0 0
ZIX CORP COM 98974P100 420 71,900 SH   SOLE N/A 71,900 0 0