ADW Capital Management, LLC Hedge Fund

CIK: 0001745214 · Show all filings

Period: Q4 2025 (← Previous)

Filing Date: Feb 17, 2026

Total Value ($000): $133,881 (100.0% shares, 0.0% debt)

Holdings (5)

New Positions (1)

SCHL SCHOLASTIC CORP 0.8%

Value ($000) $1,007 Shares 34,000 Est. Cost $28.45 Unrealized 0.0%

Ticker	Issuer	Shares	Value ($000)	%	Est. Cost	Unrealized	Class	CUSIP
SCHL	SCHOLASTIC CORP	34,000	$1,007	0.8%	$28.45	0.0%	COM	807066105

Increased Positions (1)

APG API GROUP CORP 42.4%

Value ($000) $56,706 (+65.0%) Shares 1,482,110 (+48.2%) Est. Cost $19.16 Unrealized +93.0%

Ticker	Issuer	Shares	Value ($000)	%	Est. Cost	Unrealized	Class	CUSIP
APG	API GROUP CORP	1,482,110 (+48.2%)	$56,706 (+65.0%)	42.4%	$19.16	+93.0%	COM STK	00187Y100

Exited Positions (3)

VYX NCR VOYIX CORPORATION 21.1%

Value ($000) $28,238 Shares 2,250,000 Est. Cost $13.18 Unrealized -17.6%

RICK RCI HOSPITALITY HLDGS INC 18.7%

Value ($000) $25,049 Shares 821,000 Est. Cost $19.93 Unrealized +28.4%

FATAQ FAT BRANDS INC 0.9%

Value ($000) $1,145 Shares 587,400 Est. Cost $2.51 Unrealized -52.3%

Ticker	Issuer	Shares	Value ($000)	%	Est. Cost	Unrealized	Class	CUSIP
VYX	NCR VOYIX CORPORATION	2,250,000	$28,238	21.1%	$13.18	-17.6%	—	62886E108
RICK	RCI HOSPITALITY HLDGS INC	821,000	$25,049	18.7%	$19.93	+28.4%	—	74934Q108
FATAQ	FAT BRANDS INC	587,400	$1,145	0.9%	$2.51	-52.3%	—	30258N105

Unchanged Positions (3)

GFL GFL ENVIRONMENTAL INC 32.4%

Value ($000) $43,380 Shares 1,010,000 Est. Cost $25.77 Unrealized +73.3%

TIC TIC SOLUTIONS INC 8.3%

Value ($000) $11,121 Shares 1,100,000 Est. Cost $11.64 Unrealized -4.4%

PAR PAR TECHNOLOGY CORP 16.2%

Value ($000) $21,667 Shares 597,229 Est. Cost $41.20 Unrealized -12.4%

Ticker	Issuer	Shares	Value ($000)	%	Est. Cost	Unrealized	Class	CUSIP
GFL	GFL ENVIRONMENTAL INC	1,010,000	$43,380	32.4%	$25.77	+73.3%	SUB VTG SHS	36168Q104
TIC	TIC SOLUTIONS INC	1,100,000	$11,121	8.3%	$11.64	-4.4%	COM	00510N102
PAR	PAR TECHNOLOGY CORP	597,229	$21,667	16.2%	$41.20	-12.4%	COM	698884103