ADW Capital Management, LLC

Name: ADW Capital Management, LLC 13F holdings, Q4 2025
Creator: ADW Capital Management, LLC
Published: 2026-02-17

Q2 2026Q1 2026Q3 2025Q2 2025Q1 2025Q4 2024Q3 2024Q2 2024Q1 2024

In its 13F for Q4 2025 (holdings as of December 31, 2025, filed February 17, 2026), ADW Capital Management, LLC reported 5 stock positions worth $133.9 million. Its top holding was Api (APG) at 42.4% of the portfolio, followed by GFL Environmental Inc.-Sub VT (GFL, 32.4%) and Par Technology (PAR, 16.2%). Compared with Q3 2025, it opened 1 new position, sold out of 3 and added to 1. The biggest buy was Api (APG, shares +48%) and the biggest sale an exit from NCR Voyix (VYX).

Most Recent 13F: Q2 2026
Location: Miami Beach, FL
CIK: 0001745214
Portfolio Value: $133.9M (Q4 2025)
SEC Filing: 0001420506-26-000516 ↗ filed Feb 17, 2026

Holdings Value

Holdings 5 stocks · $133.9M


APG Api Group Corp.	42.36%	1,482,110	$56.7M	Add +48.2%
GFL GFL Environmental Inc.-Sub VT	32.40%	1,010,000	$43.4M	No change
PAR Par Technology Corp.	16.18%	597,229	$21.7M	No change
TIC Tic Solutions Inc.	8.31%	1,100,000	$11.1M	No change
SCHL Scholastic Corp.	0.75%	34,000	$1.0M	New

Portfolio Sells Q3 2025 → Q4 2025


VYX NCR Voyix Corp.	Sold out	0.00%	−16.14
RICK Rci Hospitality Holdings Inc.	Sold out	0.00%	−14.32
FATAQ Fat Brands Inc. Class A	Sold out	0.00%	−0.65

Portfolio Buys Q3 2025 → Q4 2025


APG Api Group Corp.	Add +48.2%	42.36%	+22.71
SCHL Scholastic Corp.	New	0.75%	+0.75

All Filings

Quarter	Positions	13F Reported Value	Top Holdings
Q2 2026	8	$273.9M	DRVN, APG, CODI, GFL, STGW
Q1 2026	8	$229.0M	APG, DRVN, GFL, STGW, CODI
Q4 2025	5	$133.9M	APG, GFL, PAR, TIC, SCHL
Q3 2025	7	$174.9M	GFL, APG, VYX, RICK, PAR
Q2 2025	7	$366.3M	PAR, APG, GFL, RICK, TIC
Q1 2025	6	$308.2M	PAR, GFL, APG, RICK, TIC
Q4 2024	5	$325.4M	PAR, RICK, GFL, APG, FATAQ
Q3 2024	5	$262.6M	PAR, APG, RICK, GFL, FATAQ
Q2 2024	5	$414.2M	APG, PAR, RICK, GFL, FATAQ
Q1 2024	5	$453.4M	APG, PAR, GFL, RICK, FATAQ