ADW Capital Management, LLC

In its 13F for Q3 2024 (holdings as of September 30, 2024, filed November 14, 2024), ADW Capital Management, LLC reported 5 stock positions worth $262.6 million. Its top holding was Par Technology (PAR) at 42.7% of the portfolio, followed by Api (APG, 25.9%) and Rci Hospitality (RICK, 15.3%). Compared with Q2 2024, it reduced 3. The biggest sale was Api (APG, shares −65%).

Most Recent 13F
Q2 2026
Location
Miami Beach, FL
CIK
0001745214
Portfolio Value
$262.6M (Q3 2024)
SEC Filing
0001420506-24-002567 ↗ filed Nov 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 Q2 2024 Q3 2024: $262.6M $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 · $262.6M
PAR Par Technology Corp. 42.68% 2,152,000 $112.1M Reduce -6.3%
APG Api Group Corp. 25.94% 2,062,905 $68.1M Reduce -65.3%
RICK Rci Hospitality Holdings Inc. 15.25% 899,214 $40.1M Reduce -3.5%
GFL GFL Environmental Inc.-Sub VT 15.03% 990,000 $39.5M No change
FATAQ Fat Brands Inc. Class A 1.10% 587,400 $2.9M No change

Options reported separately and not counted above: PAR calls ($54.7M).

Portfolio Sells Q2 2024 → Q3 2024
APG Api Group Corp. Reduce -65.3% 25.94% −28.12
RICK Rci Hospitality Holdings Inc. Reduce -3.5% 15.25% +5.45
PAR Par Technology Corp. Reduce -6.3% 42.68% +16.56

Portfolio Buys Q2 2024 → Q3 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