HG Vora Capital Management, LLC
Long book
$169.9M
Q1 2026
Positions
6
Top-10 weight
100%
concentration
Last quarter
+33.6%
SPY +14.8%
Turnover
38%
of book per quarter
Strategy in plain words
auto-generated from filingsHG Vora Capital Management, LLC is a concentrated fundamental stock-picker, specialised in services_media (69% of the long book), running a $169.9M US long book across 6 positions.
The portfolio is extremely concentrated — the top 10 positions are almost the whole book. The portfolio is actively managed, with meaningful quarterly turnover. Current anchor positions: PENN ENTERTAINMENT INC, FIRST AMERICAN FINANCIAL, UNITED PARKS & RESORTS INC, DRIVEN BRANDS HOLDINGS INC, FOSSIL GROUP INC.
Over the last 9 quarters its long book ran on average 0.6pp per quarter behind the S&P 500, beating the index in 3 of 9 quarters. We rate its filings highest-signal: new buys here are worth attention.
Implied long-book return vs S&P 500
methodology: positions priced quarterly, no shorts/options Fund long book S&P 500
Q1 2024
-3.6%
Q2 2024
+11.7%
Q3 2024
+4.2%
Q4 2024
-8.5%
Q1 2025
+8.0%
Q2 2025
+3.4%
Q3 2025
-9.1%
Q4 2025
-4.5%
Q1 2026
+33.6%
Sector allocation
Services media 69%
Financials 24%
Other 5%
Communications 2%
Long book by quarter
What does HG Vora own?
Q1 2026 13F| Company | Sector | Shares | Value | % of book | Change |
|---|---|---|---|---|---|
| PENN PENN ENTERTAINMENT INC | Services media | 5.7M | $85.3M | 50.2% | -9.2% |
| FAF FIRST AMERICAN FINANCIAL | Financials | 675.0K | $40.7M | 24.0% | Held |
| PRKS UNITED PARKS & RESORTS INC | Services media | 600.0K | $19.6M | 11.5% | New |
| DRVN DRIVEN BRANDS HOLDINGS INC | Services media | 950.0K | $12.0M | 7.1% | -81.9% |
| FOSL FOSSIL GROUP INC | Other | 2.2M | $9.3M | 5.5% | Held |
| OPTU OPTIMUM COMMUNICATIONS INC-A | Communications | 2.3M | $3.0M | 1.8% | Held |
13F filing history
| Period | Form | Filed | Entries | Reported value | Flags | Source |
|---|---|---|---|---|---|---|
| Q1 2026 | 13F-HR | May 15, 2026 | 7 | $190.8M | canonical | SEC ↗ |
| Q4 2025 | 13F-HR | Feb 17, 2026 | 7 | $264.9M | canonical | SEC ↗ |
| Q3 2025 | 13F-HR | Nov 14, 2025 | 14 | $738.0M | canonical | SEC ↗ |
| Q2 2025 | 13F-HR | Aug 14, 2025 | 16 | $907.9M | canonical | SEC ↗ |
| Q1 2025 | 13F-HR | May 15, 2025 | 13 | $978.5M | canonical | SEC ↗ |
| Q4 2024 | 13F-HR | Feb 14, 2025 | 10 | $1.33B | canonical | SEC ↗ |
| Q3 2024 | 13F-HR | Nov 14, 2024 | 10 | $1.36B | canonical | SEC ↗ |
| Q2 2024 | 13F-HR | Aug 14, 2024 | 10 | $1.54B | canonical | SEC ↗ |
| Q1 2024 | 13F-HR | May 15, 2024 | 13 | $1.74B | canonical | SEC ↗ |
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