Data as of Q4 2025 (Dec 31, 2025)

HG Vora Capital Management, LLC

โ€ขCIK: 1525362โ€ขFiling: Q4 2025

**HG Vora Capital Management, LLC** manages $265M across a concentrated portfolio of seven positions. The fund exhibits significant conviction in its top holdings, led by PENN, representing $92.2M, followed by DRVN at $77.8M. These top two names alone account for over 70% of the disclosed assets. The remaining allocation is diversified across FAF ($41.5M) and other strategic names, signaling a focused, high-conviction investment mandate.

Total AUM
$264.9M
QoQ Performance
-64.1%
Positions
7
Top 10 Concentration
100.0%
Latest Filing
Q4 2025

Top Holdings Allocation

PENN
DRVN
FAF
NVRI
EQH
PENN34.8%
DRVN29.4%
FAF15.7%
NVRI8.5%
EQH7.2%
FOSL3.1%
OPTU1.4%

๐Ÿ“ˆ Biggest Buys

FOSL
FOSSIL GROUP INC
NEW
3.1% of portfolio

๐Ÿ“‰ Biggest Sells

NVRI
ENVIRI CORP
-54.1%
8.5% of portfolio
FAF
FIRST AMERN FINL CORP
-34.1%
15.7% of portfolio
EQH
EQUITABLE HLDGS INC
-50.0%
7.2% of portfolio
PENN
PENN ENTERTAINMENT INC
-13.8%
34.8% of portfolio
DRVN
DRIVEN BRANDS HLDGS INC
-6.2%
29.4% of portfolio

Sector Breakdown

Other100.0%

๐Ÿšช Exited Positionssold since Q3 2025

CZR
CAESARS ENTERTAINMENT INC NE
SOLD
$94.6M
R
RYDER SYS INC
SOLD
$63.2M
FUN
SIX FLAGS ENTERTAINMENT CORP
SOLD
$49.4M
CLVT
CLARIVATE PLC
SOLD
$42.6M
UGI
UGI CORP NEW
SOLD
$39.9M
+3 more exited positions

Changes from Q3 2025

NEW1 new position
โ†“6 decreased

Historical Filings

Q4 2025Q3 2025Q2 2025Q1 2025Q4 2024Q3 2024Q2 2024Q1 2024Q4 2023