Union Square Park Capital Management, LLC In its 13F for Q2 2025 (holdings as of June 30, 2025, filed August 12, 2025), Union Square Park Capital Management, LLC reported 39 stock positions worth $113.3 million . Its top holding was RH (RH) at 8.3% of the portfolio, followed by Caesars Entertainment (CZR, 7.8% ) and Establishment Labs (ESTA, 6.4% ). Compared with Q1 2025, it opened 11 new positions, sold out of 9, added to 11 and reduced 3. The biggest buy was a new position in Occidental Petroleum (OXY) and the biggest sale an exit from Floor & Decor Class A (FND).
Location New York, NY
CIK 0001666231
Portfolio Value $113.3M (Q2 2025) Holdings 39 stocks · $113.3M Holdings quarter Q2 2026 Q1 2026 Q4 2025 Q3 2025 Q2 2025 Q1 2025 Q4 2024 Q3 2024 Q2 2024 Q1 2024
Stock % Of Portfolio ▼ Shares Held Total Value Change vs Q1 2025 RH RH 50,000 $9.5M Add +49.3% CZR Caesars Entertainment Inc. 310,000 $8.8M Add +10.7% ESTA Establishment Labs Holdings 170,000 $7.3M Add +47.8% ILPT Industrial Logistics Propert 1,275,000 $5.8M Add +7.6% SPWH Sportsman's Warehouse Holdin 1,600,000 $5.5M Reduce -25.9% HGV Hilton Grand Vacations Inc. 120,000 $5.0M Reduce -20.0% FWRD Forward Air Corp. 175,000 $4.3M Add +25.0% MHK Mohawk Industries Inc. 40,000 $4.2M No change PTON Peloton Interactive Inc. Class A 575,000 $4.0M Reduce -23.3% RDNW Ridenow Group Inc. filed as RUMBLEON INC 1,702,033 $3.9M Add +68.1% GDEN Golden Entertainment Inc. 120,800 $3.6M No change COMP Compass Inc. Class A 525,000 $3.3M Add +31.3% CEG Constellation Energy 10,000 $3.2M No change NRG NRG Energy Inc. 20,000 $3.2M No change DOCU Docusign Inc. 40,000 $3.1M Add +100.0% TLN Talen Energy Corp. 10,000 $2.9M No change AMD Advanced Micro Devices 20,000 $2.8M No change ORCL Oracle Corp. 12,500 $2.7M No change VRT Vertiv Holdings Co. Class A 20,000 $2.6M No change DDOG Datadog Inc. Class A 19,000 $2.6M Add +52.0% DELL Dell Technologies -C 20,000 $2.5M Add +100.0% VYX NCR Voyix Corp. 200,000 $2.3M No change ANET Arista Networks Inc. 20,000 $2.0M No change VST Vistra Corp. 10,000 $1.9M No change OXY Occidental Petroleum Corp. 45,000 $1.9M New META Meta Platforms Inc. Class A 2,500 $1.8M No change SLNO Soleno Therapeutics Inc. 20,000 $1.7M New LYFT LYFT Inc. Class A 105,000 $1.7M New AMRZ Amrize Ltd. 30,000 $1.5M New HOUS Anywhere Real Estate Inc. 400,000 $1.4M Add +9.6% LION Lionsgate Studios Corp. 200,000 $1.2M New CHKP Check Point Software Tech 5,000 $1.1M No change CCIR Cohen Circle Acquisitio Class A 91,213 $1.0M New ADBE Adobe Inc. 2,500 $967K No change BTBT Bit Digital Inc. 300,000 $657K New HIMS Hims & Hers Health Inc. 10,000 $499K New TDOC Teladoc Health Inc. 50,000 $436K New FLD Fold Holdings Inc. filed as FOLD HLDGS INC 59,156 $250K New QUINCE THERAPEUTICS INC 120,857 $199K New
Options reported separately and not counted above: SPY puts ($45.4M), IWM puts ($37.8M), PYPL calls ($7.4M), NBIS calls ($6.9M), PLTR calls ($5.5M), HOOD calls ($5.1M), PTON calls ($5.0M), SLNO calls ($3.8M), CZR calls ($2.8M), TDOC calls ($1.7M), CORZ calls ($1.7M).
Other holdings (1): bonds, preferreds, convertibles and warrants · $1.5M (not counted above) Security Class Shares / Principal Value Change CORZW Core Scientific Inc. - 27 *W EXP 01/23/202 137,500 $1.5M New
Total filed on the 13F, all lines: $114.8M.
Portfolio Sells Q1 2025 → Q2 2025 Portfolio Sells quarter Q2 2026 Q1 2026 Q4 2025 Q3 2025 Q2 2025 Q1 2025 Q4 2024 Q3 2024 Q2 2024 Q1 2024
Stock Change vs Q1 2025 % Of Portfolio Change To Portfolio ▲ FND Floor & Decor Holdings Inc. Class A Sold out 0.00% −4.43 PYPL PayPal Holdings Inc. Sold out 0.00% −1.79 HGV Hilton Grand Vacations Inc. Reduce -20.0% 4.40% −1.77 GOOG Alphabet Inc. Class C Sold out 0.00% −1.72 PTON Peloton Interactive Inc. Class A Reduce -23.3% 3.52% −1.69 CRM Salesforce Inc. Sold out 0.00% −1.48 NN Nextnav Inc. Sold out 0.00% −1.34 AAPL Apple Inc. Sold out 0.00% −1.22 NBIS Nebius Group NV Sold out 0.00% −1.16 CCJ Cameco Corp. Sold out 0.00% −0.91 NKTR Nektar Therapeutics Sold out 0.00% −0.82 SPWH Sportsman's Warehouse Holdin Reduce -25.9% 4.87% +2.51
Portfolio Buys Q1 2025 → Q2 2025 Portfolio Buys quarter Q2 2026 Q1 2026 Q4 2025 Q3 2025 Q2 2025 Q1 2025 Q4 2024 Q3 2024 Q2 2024 Q1 2024
Stock Change vs Q1 2025 % Of Portfolio Change To Portfolio ▼ OXY Occidental Petroleum Corp. New 1.67% +1.67 SLNO Soleno Therapeutics Inc. New 1.48% +1.48 LYFT LYFT Inc. Class A New 1.46% +1.46 AMRZ Amrize Ltd. New 1.31% +1.31 ESTA Establishment Labs Holdings Add +47.8% 6.41% +1.25 DELL Dell Technologies -C Add +100.0% 2.16% +1.16 LION Lionsgate Studios Corp. New 1.03% +1.03 DOCU Docusign Inc. Add +100.0% 2.75% +0.96 DDOG Datadog Inc. Class A Add +52.0% 2.25% +0.89 CCIR Cohen Circle Acquisitio Class A New 0.88% +0.88 FWRD Forward Air Corp. Add +25.0% 3.79% +0.70 ILPT Industrial Logistics Propert Add +7.6% 5.12% +0.64 BTBT Bit Digital Inc. New 0.58% +0.58 HIMS Hims & Hers Health Inc. New 0.44% +0.44 TDOC Teladoc Health Inc. New 0.38% +0.38 RDNW Ridenow Group Inc. Add +68.1% 3.47% +0.33 FLD Fold Holdings Inc. New 0.22% +0.22 QUINCE THERAPEUTICS INC New 0.18% +0.18 CZR Caesars Entertainment Inc. Add +10.7% 7.77% +0.07 HOUS Anywhere Real Estate Inc. Add +9.6% 1.28% −0.06 RH RH Add +49.3% 8.34% −0.29 COMP Compass Inc. Class A Add +31.3% 2.91% −0.93
Options Activity Q1 2025 → Q2 2025 Security Type Change vs Q1 2025 Underlying Shares Value ▼ SPY SS SPDR S&P 500 ETF Trust-US put New 73,500 $45.4M IWM iShares Russell 2000 ETF put Reduce -22.2% 175,000 $37.8M PYPL PayPal Holdings Inc. call Add +81.8% 100,000 $7.4M NBIS Nebius Group NV call New 125,000 $6.9M PLTR Palantir Technologies Inc. Class A call Reduce -20.0% 40,000 $5.5M HOOD Robinhood Markets Inc. Class A call New 55,000 $5.1M PTON Peloton Interactive Inc. Class A call Add +262.5% 725,000 $5.0M SLNO Soleno Therapeutics Inc. call New 45,000 $3.8M VSXY Victoria's Secret & Co. call Sold out 165,000 $3.1Mbefore exit CZR Caesars Entertainment Inc. call Reduce -13.0% 100,000 $2.8M TDOC Teladoc Health Inc. call New 200,000 $1.7M CORZ Core Scientific Inc. call New 100,000 $1.7M KSS Kohls Corp. call Sold out 200,000 $1.6Mbefore exit
Calls and puts are listed by the shares they cover; their value is not part of the stock holdings above.
Notes & Other Activity Q1 2025 → Q2 2025 Security Class Change vs Q1 2025 Shares / Principal Value ▼ CORZW Core Scientific Inc. - 27 *W EXP 01/23/202 New 137,500 $1.5M
Bonds, preferreds, convertibles and warrants; not part of the stock holdings or percentages above.
All Filings Quarter Positions 13F Reported Value Top Holdings Q2 2026 50 $136.9M RH, PTON, ESTA, RDNW, COMP Q1 2026 Amended 53 $114.3M RDNW, RH, PTON, ESTA, AIV Q4 2025 42 $127.9M RH, RDNW, CZR, COMP, TDOC Q3 2025 44 $141.9M RH, COMP, CZR, RDNW, ESTA Q2 2025 39 $113.3M RH, CZR, ESTA, ILPT, SPWH Q1 2025 37 $90.9M RH, CZR, HGV, PTON, ESTA Q4 2024 25 $91.8M RH, ESTA, HGV, RDNW, FND Q3 2024 24 $74.1M RH, CZR, PTON, HGV, RDNW Q2 2024 21 $65.1M CZR, RH, PTON, HGV, EXPE Q1 2024 Amended 19 $52.9M HGV, GDEN, CZR, RH, EXPE