HG Vora Capital Management, LLC Quant / Systematic

Location: New York, NY

CIK: 0001525362 · Show all filings

Period: Q1 2026 (← Previous)

Filing Date: May 15, 2026

Total Value: $191M (89.0% shares, 11.0% debt)

Holdings (7)

New Positions (2)

— UGI CORP NEW 11.0%

Value $20.91M Shares 14,878,000 Est. Cost $1.41 Unrealized —

PRKS UNITED PARKS & RESORTS INC 10.3%

Value $19.6M Shares 600,000 Est. Cost $36.46 Unrealized 0.0%

Ticker	Issuer	Shares	Value	%	Est. Cost	Unrealized	Class	CUSIP
—	UGI CORP NEW	14,878,000	$20.91M	11.0%	$1.41	—	CONV NOTE	902681AB1
PRKS	UNITED PARKS & RESORTS INC	600,000	$19.6M	10.3%	$36.46	0.0%	COM	81282V100

Exited Positions (2)

NVRI ENVIRI CORP 11.7%

Value $22.4M Shares 1,250,000 Est. Cost $7.86 Unrealized +138.2%

EQH EQUITABLE HLDGS INC 10.0%

Value $19.06M Shares 400,000 Est. Cost $52.55 Unrealized -13.2%

Ticker	Issuer	Shares	Value	%	Est. Cost	Unrealized	Class	CUSIP
NVRI	ENVIRI CORP	1,250,000	$22.4M	11.7%	$7.86	+138.2%	—	415864107
EQH	EQUITABLE HLDGS INC	400,000	$19.06M	10.0%	$52.55	-13.2%	—	29452E101

Decreased Positions (2)

DRVN DRIVEN BRANDS HLDGS INC 6.3%

Value $11.98M (-84.6%) Shares 950,000 (-81.9%) Est. Cost $12.89 Unrealized +22.7%

PENN PENN ENTERTAINMENT INC 44.7%

Value $85.3M (-7.5%) Shares 5,675,000 (-9.2%) Est. Cost $32.15 Unrealized -58.0%

Ticker	Issuer	Shares	Value	%	Est. Cost	Unrealized	Class	CUSIP
DRVN	DRIVEN BRANDS HLDGS INC	950,000 (-81.9%)	$11.98M (-84.6%)	6.3%	$12.89	+22.7%	COM	26210V102
PENN	PENN ENTERTAINMENT INC	5,675,000 (-9.2%)	$85.3M (-7.5%)	44.7%	$32.15	-58.0%	COM	707569109

Unchanged Positions (3)

FOSL FOSSIL GROUP INC 4.9%

Value $9.324M Shares 2,163,349 Est. Cost $2.82 Unrealized +37.8%

OPTU OPTIMUM COMMUNICATIONS INC 1.6%

Value $2.99M Shares 2,300,000 Est. Cost $2.70 Unrealized -37.9%

FAF FIRST AMERN FINL CORP 21.3%

Value $40.7M Shares 675,000 Est. Cost $53.96 Unrealized +18.9%

Ticker	Issuer	Shares	Value	%	Est. Cost	Unrealized	Class	CUSIP
FOSL	FOSSIL GROUP INC	2,163,349	$9.324M	4.9%	$2.82	+37.8%	COM	34988V106
OPTU	OPTIMUM COMMUNICATIONS INC	2,300,000	$2.99M	1.6%	$2.70	-37.9%	CL A	02156K103
FAF	FIRST AMERN FINL CORP	675,000	$40.7M	21.3%	$53.96	+18.9%	COM	31847R102