ADW Capital Management, LLC

In its 13F for Q2 2024 (holdings as of June 30, 2024, filed August 14, 2024), ADW Capital Management, LLC reported 5 stock positions worth $414.2 million. Its top holding was Api (APG) at 54.1% of the portfolio, followed by Par Technology (PAR, 26.1%) and Rci Hospitality (RICK, 9.8%). Compared with Q1 2024, it reduced 2. The biggest sale was GFL Environmental Inc.-Sub VT (GFL, shares −40%).

Most Recent 13F
Q2 2026
Location
Miami Beach, FL
CIK
0001745214
Portfolio Value
$414.2M (Q2 2024)
SEC Filing
0001420506-24-001485 ↗ filed Aug 14, 2024

Holdings Value

0$100.0M$200.0M$300.0M$400.0M$500.0M Q1 2024: $453.4M Q1 2024 Q2 2024: $414.2M $414.2M Q2 2024 Q3 2024: $262.6M Q3 2024 Q4 2024: $325.4M Q4 2024 Q1 2025: $308.2M Q1 2025 Q2 2025: $366.3M Q2 2025 Q3 2025: $174.9M Q3 2025 Q4 2025: $133.9M Q4 2025 Q1 2026: $229.0M Q1 2026 Q2 2026: $273.9M Q2 2026

Holdings 5 stocks · $414.2M
APG Api Group Corp. 54.05% 5,950,000 $223.9M No change
PAR Par Technology Corp. 26.11% 2,296,944 $108.2M No change
RICK Rci Hospitality Holdings Inc. 9.80% 932,092 $40.6M Reduce -0.3%
GFL GFL Environmental Inc.-Sub VT 9.30% 990,000 $38.5M Reduce -40.0%
FATAQ Fat Brands Inc. Class A 0.73% 587,400 $3.0M No change

Options reported separately and not counted above: PAR calls ($49.4M).

Portfolio Sells Q1 2024 → Q2 2024
GFL GFL Environmental Inc.-Sub VT Reduce -40.0% 9.30% −3.25
RICK Rci Hospitality Holdings Inc. Reduce -0.3% 9.80% −2.15

Portfolio Buys Q1 2024 → Q2 2024
None this quarter.

All Filings

QuarterPositions13F Reported ValueTop Holdings
Q2 2026 8$273.9MDRVN, APG, CODI, GFL, STGW
Q1 2026 8$229.0MAPG, DRVN, GFL, STGW, CODI
Q4 2025 5$133.9MAPG, GFL, PAR, TIC, SCHL
Q3 2025 7$174.9MGFL, APG, VYX, RICK, PAR
Q2 2025 7$366.3MPAR, APG, GFL, RICK, TIC
Q1 2025 6$308.2MPAR, GFL, APG, RICK, TIC
Q4 2024 5$325.4MPAR, RICK, GFL, APG, FATAQ
Q3 2024 5$262.6MPAR, APG, RICK, GFL, FATAQ
Q2 2024 5$414.2MAPG, PAR, RICK, GFL, FATAQ
Q1 2024 5$453.4MAPG, PAR, GFL, RICK, FATAQ