ADW Capital Management, LLC

In its 13F for Q4 2024 (holdings as of December 31, 2024, filed February 14, 2025), ADW Capital Management, LLC reported 5 stock positions worth $325.4 million. Its top holding was Par Technology (PAR) at 58.0% of the portfolio, followed by Rci Hospitality (RICK, 15.7%) and GFL Environmental Inc.-Sub VT (GFL, 13.6%). Compared with Q3 2024, it added to 1 and reduced 2. The biggest buy was Par Technology (PAR, shares +21%) and the biggest sale Api (APG, shares −48%).

Most Recent 13F
Q2 2026
Location
Miami Beach, FL
CIK
0001745214
Portfolio Value
$325.4M (Q4 2024)
SEC Filing
0001420506-25-000570 ↗ filed Feb 14, 2025

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 Q3 2024 Q4 2024: $325.4M $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 · $325.4M
PAR Par Technology Corp. 58.00% 2,597,229 $188.7M Add +20.7%
RICK Rci Hospitality Holdings Inc. 15.69% 888,468 $51.1M Reduce -1.2%
GFL GFL Environmental Inc.-Sub VT 13.55% 990,000 $44.1M No change
APG Api Group Corp. 11.79% 1,066,922 $38.4M Reduce -48.3%
FATAQ Fat Brands Inc. Class A 0.96% 587,400 $3.1M No change

Portfolio Sells Q3 2024 → Q4 2024
APG Api Group Corp. Reduce -48.3% 11.79% −14.14
RICK Rci Hospitality Holdings Inc. Reduce -1.2% 15.69% +0.44

Portfolio Buys Q3 2024 → Q4 2024
PAR Par Technology Corp. Add +20.7% 58.00% +15.33

Options Activity Q3 2024 → Q4 2024
PAR Par Technology Corp. call Sold out 1,050,000 $54.7Mbefore exit

Calls and puts are listed by the shares they cover; their value is not part of the stock holdings above.

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