ADW Capital Management, LLC
Long book
$229.0M
Q1 2026
Positions
8
Top-10 weight
100%
concentration
Last quarter
+11.5%
SPY +14.8%
Turnover
56%
of book per quarter
Strategy in plain words
auto-generated from filingsADW Capital Management, LLC is a diversified fundamental manager, specialised in services_media (65% of the long book), running a $229.0M US long book across 8 positions.
The portfolio is extremely concentrated — the top 10 positions are almost the whole book. Turnover is high — positions rotate quickly, so individual names matter less than the process. Current anchor positions: API GROUP CORP, DRIVEN BRANDS HOLDINGS INC, GFL ENVIRONMENTAL INC-SUB VT, STAGWELL INC, COMPASS DIVERSIFIED HOLDINGS.
Over the last 9 quarters its long book ran on average 6.1pp per quarter behind the S&P 500, beating the index in 2 of 9 quarters. We rate its filings as signal-bearing: position changes reflect genuine views.
Implied long-book return vs S&P 500
methodology: positions priced quarterly, no shorts/options Fund long book S&P 500
Q1 2024
-2.9%
Q2 2024
-3.4%
Q3 2024
+25.5%
Q4 2024
-11.9%
Q1 2025
+11.3%
Q2 2025
-23.2%
Q3 2025
-10.1%
Q4 2025
-11.3%
Q1 2026
+11.5%
Sector allocation
Services media 65%
Utilities 18%
Other 13%
Technology 3%
Long book by quarter
What does ADW Capital own?
Q1 2026 13F| Company | Sector | Shares | Value | % of book | Change |
|---|---|---|---|---|---|
| APG API GROUP CORP | Services media | 1.5M | $60.1M | 26.2% | Held |
| DRVN DRIVEN BRANDS HOLDINGS INC | Services media | 4.0M | $50.4M | 22.0% | New |
| GFL GFL ENVIRONMENTAL INC-SUB VT | Utilities | 1.0M | $42.1M | 18.4% | Held |
| STGW STAGWELL INC | Services media | 5.0M | $31.4M | 13.7% | New |
| CODI COMPASS DIVERSIFIED HOLDINGS | Other | 3.8M | $29.5M | 12.9% | New |
| PAR PAR TECHNOLOGY CORP/DEL | Technology | 597.2K | $8.0M | 3.5% | Held |
| TIC TIC SOLUTIONS INC | Services media | 1.1M | $7.3M | 3.2% | +0.3% |
| KELYA KELLY SERVICES INC -A | Services media | 30.0K | $266K | 0.1% | New |
13F filing history
| Period | Form | Filed | Entries | Reported value | Flags | Source |
|---|---|---|---|---|---|---|
| Q1 2026 | 13F-HR | May 15, 2026 | 11 | $257.3M | canonical | SEC ↗ |
| Q4 2025 | 13F-HR | Feb 17, 2026 | 5 | $133.9M | canonical | SEC ↗ |
| Q3 2025 | 13F-HR | Nov 14, 2025 | 7 | $174.9M | canonical | SEC ↗ |
| Q2 2025 | 13F-HR | Aug 15, 2025 | 7 | $366.3M | canonical | SEC ↗ |
| Q1 2025 | 13F-HR | May 15, 2025 | 6 | $308.2M | canonical | SEC ↗ |
| Q4 2024 | 13F-HR | Feb 14, 2025 | 5 | $325.4M | canonical | SEC ↗ |
| Q3 2024 | 13F-HR | Nov 14, 2024 | 6 | $317.3M | canonical | SEC ↗ |
| Q2 2024 | 13F-HR | Aug 14, 2024 | 6 | $463.7M | canonical | SEC ↗ |
| Q1 2024 | 13F-HR | May 15, 2024 | 6 | $501.1M | canonical | SEC ↗ |
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