Hill Path Capital LP
In its 13F for Q4 2025 (holdings as of December 31, 2025, filed February 17, 2026), Hill Path Capital LP reported 7 stock positions worth $1.6 billion. Its top holding was United Parks & Resorts (PRKS) at 63.5% of the portfolio, followed by Hilton Grand Vacations (HGV, 18.7%) and Dave & Buster's Entertainmen (PLAY, 7.4%). Compared with Q3 2025, it sold out of 1 and reduced 1. The biggest sale was an exit from Callaway Golf (CALY).
- Most Recent 13F
- Q2 2026
- Location
- New York, NY
- CIK
- 0001676292
- Portfolio Value
- $1.6B (Q4 2025)
- SEC Filing
- 0000921895-26-000465 ↗ filed Feb 17, 2026
Holdings Value
Holdings 7 stocks · $1.6B
| PRKS United Parks & Resorts Inc. | 63.55% | 27,205,306 | $987.6M | No change |
| HGV Hilton Grand Vacations Inc. | 18.75% | 6,509,913 | $291.3M | No change |
| PLAY Dave & Buster's Entertainmen | 7.43% | 7,119,255 | $115.4M | No change |
| PENN Penn Entertainment Inc. | 5.47% | 5,759,820 | $85.0M | No change |
| ACEL Accel Entertainment Inc. | 2.05% | 2,789,113 | $31.8M | No change |
| CARS Cars.com Inc. | 1.95% | 2,481,032 | $30.3M | No change |
| GDEN Golden Entertainment Inc. | 0.82% | 467,841 | $12.7M | Reduce -28.6% |
Portfolio Sells Q3 2025 → Q4 2025
Portfolio Buys Q3 2025 → Q4 2025
| None this quarter. | |||
All Filings
| Quarter | Positions | 13F Reported Value | Top Holdings |
|---|---|---|---|
| Q2 2026 | 7 | $1.9B | PRKS, HGV, PENN, PLAY, ACEL |
| Q1 2026 | 7 | $1.4B | PRKS, HGV, PENN, PLAY, ACEL |
| Q4 2025 | 7 | $1.6B | PRKS, HGV, PLAY, PENN, ACEL |
| Q3 2025 | 8 | $2.0B | PRKS, HGV, PLAY, PENN, CALY |
| Q2 2025 | 8 | $1.9B | PRKS, HGV, PLAY, PENN, CALY |
| Q1 2025 | 4 | $1.6B | PRKS, HGV, PLAY, GDEN |
| Q4 2024 | 5 | $2.0B | PRKS, HGV, PLAY, GDEN, PLYA |
| Q3 2024 | 5 | $1.9B | PRKS, PLAY, HGV, GDEN, PLYA |
| Q2 2024 | 5 | $2.1B | PRKS, PLAY, HGV, GDEN, PLYA |
| Q1 2024 | 5 | $2.3B | PRKS, PLAY, HGV, GDEN, PLYA |