ADW Capital Management, LLC

In its 13F for Q1 2026 (holdings as of March 31, 2026, filed May 15, 2026), ADW Capital Management, LLC reported 8 stock positions worth $229.0 million. Its top holding was Api (APG) at 26.2% of the portfolio, followed by Driven Brands (DRVN, 22.0%) and GFL Environmental Inc.-Sub VT (GFL, 18.4%). Compared with Q4 2025, it opened 4 new positions, sold out of 1 and added to 1. The biggest buy was a new position in Driven Brands (DRVN) and the biggest sale an exit from Scholastic (SCHL).

Most Recent 13F
Q2 2026
Location
Miami Beach, FL
CIK
0001745214
Portfolio Value
$229.0M (Q1 2026)
SEC Filing
0001420506-26-001017 ↗ filed May 15, 2026

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 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 $229.0M Q1 2026 Q2 2026: $273.9M Q2 2026

Holdings 8 stocks · $229.0M
APG Api Group Corp. 26.22% 1,482,110 $60.1M No change
DRVN Driven Brands Holdings Inc. 22.02% 4,000,000 $50.4M New
GFL GFL Environmental Inc.-Sub VT 18.40% 1,010,000 $42.1M No change
STGW Stagwell Inc. 13.73% 5,000,000 $31.4M New
CODI Compass Diversified Holdings 12.87% 3,750,000 $29.5M New
PAR Par Technology Corp. 3.48% 597,229 $8.0M No change
TIC Tic Solutions Inc. 3.17% 1,103,800 $7.3M Add +0.3%
KELYA Kelly Services Inc. Class A 0.12% 30,000 $266K New

Options reported separately and not counted above: CODI calls ($13.8M), PAR puts ($8.2M), STGW calls ($6.3M).

Portfolio Sells Q4 2025 → Q1 2026
SCHL Scholastic Corp. Sold out 0.00% −0.75

Portfolio Buys Q4 2025 → Q1 2026
DRVN Driven Brands Holdings Inc. New 22.02% +22.02
STGW Stagwell Inc. New 13.73% +13.73
CODI Compass Diversified Holdings New 12.87% +12.87
KELYA Kelly Services Inc. Class A New 0.12% +0.12
TIC Tic Solutions Inc. Add +0.3% 3.17% −5.14

Options Activity Q4 2025 → Q1 2026
CODI Compass Diversified Holdings call New 1,750,000 $13.8M
PAR Par Technology Corp. put New 615,600 $8.2M
STGW Stagwell Inc. call New 1,000,000 $6.3M

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