Ancient Art, L.P.: FRONTIER GROUP HLDGS INC (ULCC): Quarterly 13F Position History
As of Q2 2026, Ancient Art, L.P. reported 2,395,119 shares of FRONTIER GROUP HLDGS INC (ULCC), worth $18.9M and representing 3.9% of its 13F equity book. Quarter-over-quarter share count change: 727,585 (-23.3%) . The position first appeared in Q3 2021 and has been disclosed across 20 13F-HR filings in Pactolio's tracked window.
- 2,395,119Shares Held (Latest Filing)
- $18.9MReported Market Value (Latest Filing)
- 3.9%Portfolio Weight (% of 13F Equity Book)
- 727,585Quarter-over-Quarter Share Change
- +$7.9MQuarter-over-Quarter Value Change
- 8,661,321Peak Reported Shares (Historical)
Quarterly 13F-HR Disclosure History Source: SEC 13F-HR filings, 20 quarter s
| Quarter | Shares | QoQ Share Change | Share Change (%) | Market Value | Weight | Implied Price |
|---|---|---|---|---|---|---|
| Q2 2026 | 2,395,119 | 727,585 | -23.3% | $18.9M | 3.9% | $7.9 |
| Q1 2026 | 3,122,704 | 461,099 | -12.9% | $11.0M | 2.4% | $3.5 |
| Q4 2025 | 3,583,803 | 700,000 | -16.3% | $16.9M | 3.8% | $4.7 |
| Q3 2025 | 4,283,803 | 447,030 | -9.4% | $18.9M | 4.5% | $4.4 |
| Q2 2025 | 4,730,833 | +200,000 | +4.4% | $17.2M | 5.5% | $3.6 |
| Q1 2025 | 4,530,833 | 885,388 | -16.3% | $19.7M | 5.8% | $4.3 |
| Q4 2024 | 5,416,221 | 2,111,500 | -28.0% | $38.5M | 8.2% | $7.1 |
| Q3 2024 | 7,527,721 | 0 | – | $40.3M | 9.3% | $5.3 |
| Q2 2024 | 7,527,721 | 19,094 | -0.3% | $37.1M | 9.5% | $4.9 |
| Q1 2024 | 7,546,815 | 1,114,506 | -12.9% | $61.2M | 12.4% | $8.1 |
| Q4 2023 | 8,661,321 | +700,000 | +8.8% | $47.3M | 7.9% | $5.5 |
| Q3 2023 | 7,961,321 | +2,734,104 | +52.3% | $38.5M | 8.3% | $4.8 |
| Q2 2023 | 5,227,217 | +868,682 | +19.9% | $50.5M | 10.7% | $9.7 |
| Q1 2023 | 4,358,535 | 50,000 | -1.1% | $42.9M | 9.4% | $9.8 |
| Q4 2022 | 4,408,535 | 346,539 | -7.3% | $45.3M | 9.6% | $10.3 |
| Q3 2022 | 4,755,074 | 351,918 | -6.9% | $46.1M | 8.6% | $9.7 |
| Q2 2022 | 5,106,992 | +1,046,915 | +25.8% | $47.9M | 7.4% | $9.4 |
| Q1 2022 | 4,060,077 | +1,512,868 | +59.4% | $46.0M | 6.0% | $11.3 |
| Q4 2021 | 2,547,209 | +2,460,815 | +2848.4% | $34.6M | 3.9% | $13.6 |
| Q3 2021 | 86,394 | – | – | $1.4M | 0.1% | $15.8 |
Methodology & FAQ
How This Position History Is Sourced
Each row is one SEC Form 13F-HR filing disclosing this position. Share count, market value, and reported quarter are taken verbatim from the filing; portfolio weight is recomputed against the same filing's total reported equity book. Implied price-per-share is market value divided by shares, a quarter-end mark rather than the manager's cost basis. See the full methodology document for the normalization rules.
When did Ancient Art, L.P. first disclose a ULCC position in 13F-HR filings?
Ancient Art, L.P. first reported FRONTIER GROUP HLDGS INC (ULCC) on its 13F-HR filing for the period ending 2021-09-30 (Q3 2021). The position has appeared on 20 reported quarters within Pactolio's tracked window.
What was Ancient Art, L.P.'s most recent quarter-over-quarter share-count change in ULCC?
Between Q1 2026 and Q2 2026, Ancient Art, L.P. reduced its ULCC position by 727,585 shares (-23.3%), leaving 2,395,119 shares at a market value of $18.9M.
Does the implied price-per-share represent Ancient Art, L.P.'s cost basis in ULCC?
No. The implied price-per-share column is the 13F-HR reported market value divided by reported share count on the filing date (end of quarter). It is a quarter-end mark, not a cost basis or transaction price. Use it as a sanity check on the value column, not as an indicator of the manager's entry or exit price.