CIK: 0001525362
Total reported value
$190.8M
Reporting period: 2026-03-31 · Number of holdings: 7
HG Vora Capital Management, LLC disclosed 7 holdings in its latest 13F filing for the period ending 2026-03-31, with total reported value of $190.8M and a quarterly turnover rate of 69.1%.
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HG Vora Capital Management, LLC's disclosed holdings carry a Herfindahl concentration index of 0.274 — mathematically equivalent to about 4 equally-sized positions, well below its 7 actual disclosed holdings. That gap points to a strategy built around a small core of high-conviction bets rather than broad diversification.
Position sizes are fairly uniform across the portfolio (a coefficient of variation of 1.04), suggesting a disciplined, rules-based approach to how much capital goes into each idea.
Recent activity leans toward initiating meaningfully larger new positions than it adds to existing ones (a 10.6 percentage-point tilt) — a pattern consistent with a more contrarian, new-idea-driven approach.
Trim DRVN
-81.9% -$65.8M
Add PENN
-9.2% -$6.9M
Add FAF
0.0% -$776.3K
Add FOSL
0.0% $1.2M
Add OPTU
0.0% -$805.0K
Sold out HA7
| # | Ticker | Issuer | Asset Subclass | Weight | Weight Change | Shares Change | 4Q Trend |
|---|---|---|---|---|---|---|---|
| 1 | PENN | Penn Entertainment INC | Stock-Consumer Disc | 44.71% | +9.90% | -9.20% | |
| 2 | FAF | First American Financial | Stock-Financials | 21.33% | +5.67% | — | |
| 3 | UGI 5 06-01-28 | Ugi CORP | Stock-Utilities | 10.96% | +10.96% | NEW | |
| 4 | PRKS | United Parks & Resorts INC | Stock-Other | 10.27% | +10.27% | NEW | |
| 5 | DRVN | Driven Brands Holdings INC | Stock-Other | 6.28% | -23.10% | -81.90% | |
| 6 | FOSL | Fossil Group INC | Stock-Other | 4.89% | +1.82% | — | |
| 7 | OPTU | Optimum Communications Inc-a | Stock-Comm Services | 1.57% | +0.14% | — |
Performance for Q3 2026
+11.2%
Performance Last 4 Quarters
+5%
Based on 79% of reported portfolio value with available pricing
| Period | Holdings | Total value | Stability | Top holdings |
|---|---|---|---|---|
| 2026-03-31 | 7 | $190.8M | 69 | |
| 2025-12-31 | 7 | $264.9M | 98 | |
| 2025-09-30 | 14 | $738.0M | 64 | |
| 2025-06-30 | 16 | $907.9M | 0 | |
| 2025-03-31 | 13 | $978.5M | 100 | |
| 2024-12-31 | 10 | $1.3B | 0 | |
| 2024-09-30 | 10 | $1.4B | 0 | |
| 2024-06-30 | 10 | $1.5B | 0 | |
| 2024-03-31 | 13 | $1.7B | 0 | |
| 2023-12-31 | 12 | $2.0B | 0 | |
| 2023-09-30 | 16 | $3.2B | 0 | |
| 2023-06-30 | 14 | $3.5B | 0 | |
| 2023-03-31 | 16 | $3.5B | 0 | |
| 2022-12-31 | 17 | $2.5B | 0 | |
| 2022-09-30 | 17 | $2.2B | 0 | |
| 2022-06-30 | 21 | $2.5B | 0 | |
| 2022-03-31 | 29 | $3.4B | 0 | |
| 2021-12-31 | 24 | $2.8B | 0 | |
| 2021-09-30 | 25 | $2.6B | 0 | |
| 2021-06-30 | 27 | $2.2B | 85 | |
| 2021-03-31 | 23 | $1.9B | 92 | |
| 2020-12-31 | 27 | $1.3B | 100 | |
| 2020-09-30 | 31 | $1.3B | 71 | |
| 2020-06-30 | 20 | $1.1B | 98 | |
| 2020-03-31 | 22 | $1.0B | 100 | |
| 2019-12-31 | 19 | $1.1B | 99 | |
| 2019-09-30 | 18 | $1.0B | 57 | |
| 2019-06-30 | 20 | $1.4B | 100 | |
| 2019-03-31 | 22 | $1.4B | 100 | |
| 2018-12-31 | 12 | $533.9M | 100 | |
| 2018-09-30 | 18 | $1.6B | 100 | |
| 2018-06-30 | 20 | $1.7B | 68 | |
| 2018-03-31 | 21 | $1.5B | 71 | |
| 2017-12-31 | 15 | $953.2M | 100 | |
| 2017-09-30 | 10 | $740.5M | 83 | |
| 2017-06-30 | 13 | $1.2B | 67 | |
| 2017-03-31 | 13 | $1.0B | 100 | |
| 2016-12-31 | 12 | $537.3M | 100 | |
| 2016-09-30 | 16 | $773.1M | 83 | |
| 2016-06-30 | 13 | $442.6M | 100 | |
| 2016-03-31 | 12 | $543.8M | 52 | |
| 2015-12-31 | 16 | $616.3M | 61 | |
| 2015-09-30 | 17 | $837.9M | 62 | |
| 2015-06-30 | 18 | $825.2M | 79 | |
| 2015-03-31 | 18 | $801.5M | 100 | |
| 2014-12-31 | 14 | $568.1M | 88 | |
| 2014-09-30 | 13 | $937.4M | 59 | |
| 2014-06-30 | 10 | $612.0M | 80 | |
| 2014-03-31 | 12 | $434.2M | 90 | |
| 2013-12-31 | 15 | $449.1M | 0 |
HG Vora Capital Management, LLC's most significant position changes for 2026-03-31: Sold out: Enviri CORP (HA7); New buy: Ugi CORP (UGI 5 06-01-28); New buy: United Parks & Resorts INC (PRKS); Sold out: Equitable Holdings INC (EQH); Trim: Driven Brands Holdings INC (DRVN) — shares -81.90%.
| # | Ticker | Issuer | Weight Change | Shares Change | Action |
|---|---|---|---|---|---|
| 1 | PENN | Penn Entertainment INC | +9.9% | -9.20% | Trim |
| 2 | FAF | First American Financial | +5.7% | — | Unchanged |
| 3 | FOSL | Fossil Group INC | +1.8% | — | Unchanged |
| 4 | OPTU | Optimum Communications Inc-a | +0.1% | — | Unchanged |
| 5 | DRVN | Driven Brands Holdings INC | -23.1% | -81.90% | Trim |
| 6 | HA7 | Enviri CORP | — | EXIT | Sold out |
| 7 | UGI 5 06-01-28 | Ugi CORP | — | NEW | New buy |
| 8 | PRKS | United Parks & Resorts INC | — | NEW | New buy |
| 9 | EQH | Equitable Holdings INC | — | EXIT | Sold out |
| Period | Filed | Type | EDGAR |
|---|---|---|---|
| 2026-03-31 | 2026-05-15 | 13F-HR | View on EDGAR |
| 2025-12-31 | 2026-02-17 | 13F-HR | View on EDGAR |
| 2025-09-30 | 2025-11-14 | 13F-HR | View on EDGAR |
| 2025-06-30 | 2025-08-14 | 13F-HR | View on EDGAR |
| 2025-03-31 | 2025-05-15 | 13F-HR | View on EDGAR |
| 2024-12-31 | 2025-02-14 | 13F-HR | View on EDGAR |
| 2024-09-30 | 2024-11-14 | 13F-HR | View on EDGAR |
| 2024-06-30 | 2024-08-14 | 13F-HR | View on EDGAR |
| 2024-03-31 | 2024-05-15 | 13F-HR | View on EDGAR |
| 2023-12-31 | 2024-02-14 | 13F-HR | View on EDGAR |
| 2023-09-30 | 2023-11-14 | 13F-HR | View on EDGAR |
| 2023-06-30 | 2023-08-14 | 13F-HR | View on EDGAR |
| 2023-03-31 | 2023-05-15 | 13F-HR | View on EDGAR |
| 2022-12-31 | 2023-02-14 | 13F-HR | View on EDGAR |
| 2022-09-30 | 2022-11-10 | 13F-HR | View on EDGAR |
| 2022-06-30 | 2022-08-12 | 13F-HR | View on EDGAR |
| 2022-03-31 | 2022-05-16 | 13F-HR | View on EDGAR |
| 2021-12-31 | 2022-02-14 | 13F-HR | View on EDGAR |
| 2021-09-30 | 2021-11-15 | 13F-HR | View on EDGAR |
| 2021-06-30 | 2021-08-16 | 13F-HR | View on EDGAR |
| 2021-03-31 | 2021-05-14 | 13F-HR | View on EDGAR |
| 2020-12-31 | 2021-02-12 | 13F-HR | View on EDGAR |
| 2020-09-30 | 2020-11-16 | 13F-HR | View on EDGAR |
| 2020-06-30 | 2020-08-14 | 13F-HR | View on EDGAR |
| 2020-03-31 | 2020-05-14 | 13F-HR | View on EDGAR |
| 2019-12-31 | 2020-02-13 | 13F-HR | View on EDGAR |
| 2019-09-30 | 2019-11-13 | 13F-HR | View on EDGAR |
| 2019-06-30 | 2019-08-14 | 13F-HR | View on EDGAR |
| 2019-03-31 | 2019-05-14 | 13F-HR | View on EDGAR |
| 2018-12-31 | 2019-02-14 | 13F-HR | View on EDGAR |
| 2018-09-30 | 2018-11-14 | 13F-HR | View on EDGAR |
| 2018-06-30 | 2018-08-14 | 13F-HR | View on EDGAR |
| 2018-03-31 | 2018-05-15 | 13F-HR | View on EDGAR |
| 2017-12-31 | 2018-02-14 | 13F-HR | View on EDGAR |
| 2017-09-30 | 2017-11-14 | 13F-HR | View on EDGAR |
| 2017-06-30 | 2017-08-14 | 13F-HR | View on EDGAR |
| 2017-03-31 | 2017-05-15 | 13F-HR | View on EDGAR |
| 2016-12-31 | 2017-02-14 | 13F-HR | View on EDGAR |
| 2016-09-30 | 2016-11-15 | Amendment | View on EDGAR |
| 2016-09-30 | 2016-11-14 | 13F-HR | View on EDGAR |
| 2016-06-30 | 2016-08-16 | 13F-HR | View on EDGAR |
| 2016-03-31 | 2016-05-16 | 13F-HR | View on EDGAR |
| 2015-12-31 | 2016-02-16 | 13F-HR | View on EDGAR |
| 2015-09-30 | 2015-11-17 | Amendment | View on EDGAR |
| 2015-09-30 | 2015-11-16 | 13F-HR | View on EDGAR |
| 2015-06-30 | 2015-08-14 | 13F-HR | View on EDGAR |
| 2015-03-31 | 2015-05-15 | 13F-HR | View on EDGAR |
| 2014-12-31 | 2015-02-17 | 13F-HR | View on EDGAR |
| 2014-09-30 | 2014-11-17 | Amendment | View on EDGAR |
| 2014-09-30 | 2014-11-14 | 13F-HR | View on EDGAR |
| 2014-06-30 | 2014-08-14 | 13F-HR | View on EDGAR |
| 2014-03-31 | 2014-05-15 | 13F-HR | View on EDGAR |
| 2013-12-31 | 2014-02-14 | 13F-HR | View on EDGAR |
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