Union Square Park Capital Management, LLC

In its 13F for Q1 2024 (holdings as of March 31, 2024, filed May 15, 2024), Union Square Park Capital Management, LLC reported 19 stock positions worth $52.9 million. Its top holding was Hilton Grand Vacations (HGV) at 11.2% of the portfolio, followed by Golden Entertainment (GDEN, 10.0%) and Caesars Entertainment (CZR, 9.5%). Compared with Q4 2023, it opened 5 new positions, sold out of 11, added to 10 and reduced 1. The biggest buy was RH (RH, shares +317%) and the biggest sale an exit from Spectrum Brands (SPB).

Most Recent 13F
Q2 2026
Location
New York, NY
CIK
0001666231
Portfolio Value
$52.9M (Q1 2024)
SEC Filing
0001172661-24-002453 ↗ filed May 15, 2024

Holdings Value

0$50.0M$100.0M$150.0M Q1 2024: $52.9M $52.9M Q1 2024 Q2 2024: $65.1M Q2 2024 Q3 2024: $74.1M Q3 2024 Q4 2024: $91.8M Q4 2024 Q1 2025: $90.9M Q1 2025 Q2 2025: $113.3M Q2 2025 Q3 2025: $141.9M Q3 2025 Q4 2025: $127.9M Q4 2025 Q1 2026: $114.3M Q1 2026 Q2 2026: $136.9M Q2 2026

Holdings 19 stocks · $52.9M
HGV Hilton Grand Vacations Inc. 11.15% 125,000 $5.9M No change
GDEN Golden Entertainment Inc. 10.02% 143,962 $5.3M Add +4.7%
CZR Caesars Entertainment Inc. 9.51% 115,000 $5.0M Add +53.3%
RH RH 8.23% 12,500 $4.4M Add +316.7%
EXPE Expedia Group Inc. 7.81% 30,000 $4.1M Add +20.0%
RMNI Rimini Street Inc. 7.69% 1,248,705 $4.1M Reduce -7.5%
RDNW Ridenow Group Inc. filed as RUMBLEON INC 6.72% 550,500 $3.6M Add +40.8%
ILPT Industrial Logistics Propert 6.16% 760,000 $3.3M No change
SPWH Sportsman's Warehouse Holdin 6.02% 1,025,000 $3.2M Add +17.1%
ESTA Establishment Labs Holdings 5.77% 60,000 $3.1M New
DHC Diversified Healthcare Trust 3.72% 800,000 $2.0M Add +23.1%
MHK Mohawk Industries Inc. 3.71% 15,000 $2.0M New
OPRT Oportun Financial Corp. 3.48% 758,360 $1.8M Add +105.6%
INSE Inspired Entertainment Inc. 2.86% 153,287 $1.5M Add +300.6%
PTON Peloton Interactive Inc. Class A 2.63% 325,000 $1.4M New
BOOM DMC Global Inc. 1.50% 40,810 $795K New
COMP Compass Inc. Class A 1.19% 175,000 $630K New
PWP Perella Weinberg Partners 0.94% 35,348 $499K No change
HOUS Anywhere Real Estate Inc. 0.88% 75,000 $464K Add +150.0%

Options reported separately and not counted above: SPY puts ($31.4M), IWM puts ($9.5M), PYPL calls ($8.7M), TRIP calls ($7.6M), RH calls ($5.7M), FND calls ($5.6M), CNH calls ($2.6M), PLTR calls ($1.5M).

Other holdings (2): bonds, preferreds, convertibles and warrants · $81K (not counted above)
SecurityClassShares / PrincipalValueChange
JOBY.WS Joby Aviation Inc. -CW25 *W EXP 08/10/202 82,247$64KReduce -40.3%
PRCWF Procaps Group SA -CW26 *W EXP 09/29/202 200,000$16KNo change

Total filed on the 13F, all lines: $53.0M.

Portfolio Sells Q4 2023 → Q1 2024
SPB Spectrum Brands Holdings Inc. Sold out 0.00% −15.17
CNH CNH Industrial NV Sold out 0.00% −3.42
KSS Kohls Corp. Sold out 0.00% −3.38
POLESTAR AUTOMOTIVE HLDG UK Sold out 0.00% −2.30
SRG Seritage Growth Prop- A Sold out 0.00% −1.70
GENK Gen Restaurant Group Inc. Sold out 0.00% −1.13
LFCR Lifecore Biomedical Inc. Sold out 0.00% −0.78
LLFLQ LL Flooring Holdings Inc. Sold out 0.00% −0.71
PYPL PayPal Holdings Inc. Sold out 0.00% −0.61
GLATFELTER CORP Sold out 0.00% −0.55
LUMN Lumen Technologies Inc. Sold out 0.00% −0.50
RMNI Rimini Street Inc. Reduce -7.5% 7.69% −0.30

Portfolio Buys Q4 2023 → Q1 2024
RH RH Add +316.7% 8.23% +6.64
ESTA Establishment Labs Holdings New 5.77% +5.77
MHK Mohawk Industries Inc. New 3.71% +3.71
CZR Caesars Entertainment Inc. Add +53.3% 9.51% +3.14
PTON Peloton Interactive Inc. Class A New 2.63% +2.63
INSE Inspired Entertainment Inc. Add +300.6% 2.86% +2.17
BOOM DMC Global Inc. New 1.50% +1.50
COMP Compass Inc. Class A New 1.19% +1.19
RDNW Ridenow Group Inc. Add +40.8% 6.72% +0.96
EXPE Expedia Group Inc. Add +20.0% 7.81% +0.94
OPRT Oportun Financial Corp. Add +105.6% 3.48% +0.87
HOUS Anywhere Real Estate Inc. Add +150.0% 0.88% +0.44
GDEN Golden Entertainment Inc. Add +4.7% 10.02% +0.08
DHC Diversified Healthcare Trust Add +23.1% 3.72% −0.68
SPWH Sportsman's Warehouse Holdin Add +17.1% 6.02% −0.73

Options Activity Q4 2023 → Q1 2024
SPY SS SPDR S&P 500 ETF Trust-US put Add +41.2% 60,000 $31.4M
IWM iShares Russell 2000 ETF put Reduce -58.3% 45,000 $9.5M
PYPL PayPal Holdings Inc. call Add +4.0% 130,000 $8.7M
TRIP Tripadvisor Inc. call New 275,200 $7.6M
RH RH call Reduce -55.6% 16,500 $5.7M
FND Floor & Decor Holdings Inc. Class A call New 43,000 $5.6M
WBD Warner Bros Discovery Inc. call Sold out 404,300 $4.6Mbefore exit
EXPE Expedia Group Inc. call Sold out 22,500 $3.4Mbefore exit
CZR Caesars Entertainment Inc. call Sold out 70,000 $3.3Mbefore exit
CNH CNH Industrial NV call New 200,000 $2.6M
GLOB Globant SA put Sold out 10,000 $2.4Mbefore exit
CNH CNH Industrial NV put Sold out 156,000 $1.9Mbefore exit
PLTR Palantir Technologies Inc. Class A call New 65,000 $1.5M
GDEN Golden Entertainment Inc. call Sold out 30,000 $1.2Mbefore exit
HOUS Anywhere Real Estate Inc. call Sold out 118,400 $960Kbefore exit
SPB Spectrum Brands Holdings Inc. call Sold out 10,000 $798Kbefore exit
CASH Pathward Financial Inc. call Sold out 10,100 $535Kbefore exit
JOBY Joby Aviation Inc. put Sold out 21,800 $145Kbefore exit

Calls and puts are listed by the shares they cover; their value is not part of the stock holdings above.

Notes & Other Activity Q4 2023 → Q1 2024
GRND.WS Grindr Inc. -26 *W EXP 11/18/202 Sold out 50,188 $91Kbefore exit
JOBY.WS Joby Aviation Inc. -CW25 *W EXP 08/10/202 Reduce -40.3% 82,247 $64K

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

All Filings

QuarterPositions13F Reported ValueTop Holdings
Q2 2026 50$136.9MRH, PTON, ESTA, RDNW, COMP
Q1 2026Amended 53$114.3MRDNW, RH, PTON, ESTA, AIV
Q4 2025 42$127.9MRH, RDNW, CZR, COMP, TDOC
Q3 2025 44$141.9MRH, COMP, CZR, RDNW, ESTA
Q2 2025 39$113.3MRH, CZR, ESTA, ILPT, SPWH
Q1 2025 37$90.9MRH, CZR, HGV, PTON, ESTA
Q4 2024 25$91.8MRH, ESTA, HGV, RDNW, FND
Q3 2024 24$74.1MRH, CZR, PTON, HGV, RDNW
Q2 2024 21$65.1MCZR, RH, PTON, HGV, EXPE
Q1 2024Amended 19$52.9MHGV, GDEN, CZR, RH, EXPE