Hill Path Capital LP

In its 13F for Q1 2025 (holdings as of March 31, 2025, filed May 15, 2025), Hill Path Capital LP reported 4 stock positions worth $1.6 billion. Its top holding was United Parks & Resorts (PRKS) at 76.9% of the portfolio, followed by Hilton Grand Vacations (HGV, 15.1%) and Dave & Buster's Entertainmen (PLAY, 7.8%). Compared with Q4 2024, it sold out of 1 and reduced 1. The biggest sale was an exit from Playa Hotels & Resorts (PLYA).

Most Recent 13F
Q2 2026
Location
New York, NY
CIK
0001676292
Portfolio Value
$1.6B (Q1 2025)
SEC Filing
0000921895-25-001531 ↗ filed May 15, 2025

Holdings Value

0$500.0M$1.0B$1.5B$2.0B$2.5B Q1 2024: $2.3B Q1 2024 Q2 2024: $2.1B Q2 2024 Q3 2024: $1.9B Q3 2024 Q4 2024: $2.0B Q4 2024 Q1 2025: $1.6B $1.6B Q1 2025 Q2 2025: $1.9B Q2 2025 Q3 2025: $2.0B Q3 2025 Q4 2025: $1.6B Q4 2025 Q1 2026: $1.4B Q1 2026 Q2 2026: $1.9B Q2 2026

Holdings 4 stocks · $1.6B
PRKS United Parks & Resorts Inc. 76.89% 27,205,306 $1.2B No change
HGV Hilton Grand Vacations Inc. 15.14% 6,509,913 $243.5M No change
PLAY Dave & Buster's Entertainmen 7.78% 7,119,255 $125.1M No change
GDEN Golden Entertainment Inc. 0.19% 113,475 $3.0M Reduce -65.2%

Portfolio Sells Q4 2024 → Q1 2025
PLYA Playa Hotels & Resorts NV Sold out 0.00% −0.35
GDEN Golden Entertainment Inc. Reduce -65.2% 0.19% −0.33

Portfolio Buys Q4 2024 → Q1 2025
None this quarter.

All Filings

QuarterPositions13F Reported ValueTop Holdings
Q2 2026 7$1.9BPRKS, HGV, PENN, PLAY, ACEL
Q1 2026 7$1.4BPRKS, HGV, PENN, PLAY, ACEL
Q4 2025 7$1.6BPRKS, HGV, PLAY, PENN, ACEL
Q3 2025 8$2.0BPRKS, HGV, PLAY, PENN, CALY
Q2 2025 8$1.9BPRKS, HGV, PLAY, PENN, CALY
Q1 2025 4$1.6BPRKS, HGV, PLAY, GDEN
Q4 2024 5$2.0BPRKS, HGV, PLAY, GDEN, PLYA
Q3 2024 5$1.9BPRKS, PLAY, HGV, GDEN, PLYA
Q2 2024 5$2.1BPRKS, PLAY, HGV, GDEN, PLYA
Q1 2024 5$2.3BPRKS, PLAY, HGV, GDEN, PLYA