HG Vora Capital Management, LLC

In its 13F for Q1 2026 (holdings as of March 31, 2026, filed May 15, 2026), HG Vora Capital Management, LLC reported 6 stock positions worth $169.9 million. Its top holding was Penn Entertainment (PENN) at 50.2% of the portfolio, followed by First American Financial (FAF, 24.0%) and United Parks & Resorts (PRKS, 11.5%). Compared with Q4 2025, it opened 1 new position, sold out of 2 and reduced 2. The biggest buy was a new position in United Parks & Resorts (PRKS) and the biggest sale Driven Brands (DRVN, shares −82%).

Most Recent 13F
Q2 2026
Location
NEW YORK, NY
CIK
0001525362
Portfolio Value
$169.9M (Q1 2026)
SEC Filing
0001214659-26-006482 ↗ filed May 15, 2026

Holdings Value

0$500.0M$1.0B$1.5B$2.0B Q1 2024: $1.7B Q1 2024 Q2 2024: $1.5B Q2 2024 Q3 2024: $1.4B Q3 2024 Q4 2024: $1.3B Q4 2024 Q1 2025: $978.5M Q1 2025 Q2 2025: $907.9M Q2 2025 Q3 2025: $738.0M Q3 2025 Q4 2025: $264.9M Q4 2025 Q1 2026: $169.9M $169.9M Q1 2026 Q2 2026: $172.0M Q2 2026

Holdings 6 stocks · $169.9M
PENN Penn Entertainment Inc. 50.21% 5,675,000 $85.3M Reduce -9.2%
FAF First American Financial 23.96% 675,000 $40.7M No change
PRKS United Parks & Resorts Inc. 11.54% 600,000 $19.6M New
DRVN Driven Brands Holdings Inc. 7.05% 950,000 $12.0M Reduce -81.9%
FOSL Fossil Group Inc. 5.49% 2,163,349 $9.3M No change
OPTU Optimum Communications Inc. Class A 1.76% 2,300,000 $3.0M No change
Other holdings (1): bonds, preferreds, convertibles and warrants · $20.9M (not counted above)
SecurityClassShares / PrincipalValueChange
UGI CORP (UGI 5 06/01/28) NOTE 5.000% 6/0 · principal 14,878,000$20.9MNew

Total filed on the 13F, all lines: $190.8M.

Portfolio Sells Q4 2025 → Q1 2026
DRVN Driven Brands Holdings Inc. Reduce -81.9% 7.05% −22.32
NVRI Enviri Corp. Sold out 0.00% −8.46
EQH Equitable Holdings Inc. Sold out 0.00% −7.20
PENN Penn Entertainment Inc. Reduce -9.2% 50.21% +15.40

Portfolio Buys Q4 2025 → Q1 2026
PRKS United Parks & Resorts Inc. New 11.54% +11.54

Notes & Other Activity Q4 2025 → Q1 2026
UGI CORP (UGI 5 06/01/28) NOTE 5.000% 6/0 · principal New 14,878,000 $20.9M

Bonds, preferreds, convertibles and warrants; not part of the stock holdings or percentages above.

All Filings

QuarterPositions13F Reported ValueTop Holdings
Q2 2026 4$172.0MPENN, FAF, FOSL, OPTU
Q1 2026 6$169.9MPENN, FAF, PRKS, DRVN, FOSL
Q4 2025 7$264.9MPENN, DRVN, FAF, NVRI, EQH
Q3 2025 14$738.0MPENN, CZR, DRVN, FAF, R
Q2 2025 16$907.9MPENN, R, DRVN, CZR, FAF
Q1 2025 13$978.5MFAF, PENN, R, DRVN, CZR
Q4 2024 10$1.3BPENN, FAF, R, PLYA, BYD
Q3 2024 10$1.4BPENN, FAF, R, BYD, DRVN
Q2 2024 10$1.5BPENN, FAF, R, BYD, CZR
Q1 2024 12$1.7BFAF, PENN, R, CZR, BYD