HG VORA CAPITAL MANAGEMENT LLC
Q3 2025 Form 13-F
NEW YORK, NEW YORK
CIK 0001525362
· CRD 161788
· SEC-registered investment adviser
$738.0M Reported Value Total
HG VORA CAPITAL MANAGEMENT, LLC reports 26 total accounts under management (AUM). There are 23 discretionary accounts valued at $7,549,575,388, and 3 non-discretionary accounts valued at $1,942,902.
Source: Form ADV filed * Note that certain holdings are exempt from Form 13-F reporting, so the AUM totals may be greater than the Form 13-F total.
Private funds (Form ADV)
22 funds
· $6.4B gross asset value
Hedge Fund: $6.4B · Private Equity Fund: $1.3M
Source: Form ADV filed 2026-03-31
Reported value
$738.0M
Quarter over quarter
+2.7%
Holdings
14
Top-10 concentration
89.5%
Key People
Form ADV owners & control persons
Parag M. Vora
LIMITED PARTNER
Philip Marvin Garthe
CHIEF COMPLIANCE OFFICER
Mandy Lam
GENERAL COUNSEL
Filing Navigation
13F Metrics
Loading 13F Metrics
Q3 2025 13F record
Q3 2025 13F filing summary
| Period of report | September 30, 2025 |
|---|---|
| Filed | November 14, 2025 |
| Form | 13F-HR |
| Reported value | $738.0M |
| Positions | 14 |
| Change in reported value | -18.7% |
| New positions | 1 |
| Exited positions | 3 |
| Position turnover | 23.5% |
| Top-10 concentration | 89.5% |
13F filings by quarter
| Quarter | Positions | Value |
|---|---|---|
|
Q2 2026 13F
Filed Aug 14, 2026
|
4 | $196.8M |
|
Q1 2026 13F
Filed May 15, 2026
|
6 | $190.8M |
|
Q4 2025 13F
Filed Feb 17, 2026
|
7 | $264.9M |
|
Q3 2025 13F
Filed Nov 14, 2025
|
14 | $738.0M |
|
Q2 2025 13F
Filed Aug 14, 2025
|
16 | $907.9M |
|
Q1 2025 13F
Filed May 15, 2025
|
13 | $978.5M |
|
Q4 2024 13F
Filed Feb 14, 2025
|
10 | $1.3B |
|
Q3 2024 13F
Filed Nov 14, 2024
|
10 | $1.4B |
|
Q2 2024 13F
Filed Aug 14, 2024
|
10 | $1.5B |
|
Q1 2024 13F
Filed May 15, 2024
|
12 | $1.7B |
|
Q4 2023 13F
Filed Feb 14, 2024
|
11 | $2.0B |
|
Q3 2023 13F
Filed Nov 14, 2023
|
13 | $3.2B |
|
Q2 2023 13F
Filed Aug 14, 2023
|
12 | $3.5B |
|
Q1 2023 13F
Filed May 15, 2023
|
13 | $3.5B |
|
Q4 2022 13F
Filed Feb 14, 2023
|
14 | $2.5B |
|
Q3 2022 13F
Filed Nov 10, 2022
|
16 | $2.2B |
|
Q2 2022 13F
Filed Aug 12, 2022
|
19 | $2.5B |
|
Q1 2022 13F
Filed May 16, 2022
|
22 | $3.4B |
|
Q4 2021 13F
Filed Feb 14, 2022
|
24 | $2.8B |
|
Q3 2021 13F
Filed Nov 15, 2021
|
25 | $2.6B |
31 earlier quarters on file — choose one from the quarter menu above.
Top 14 holdings · Q3 2025
| # | Holding | Reported value | % of portfolio |
|---|---|---|---|
| 1 | PENN PENN ENTERTAINMENT INC | $139.6M | 18.92% |
| 2 | CZR CAESARS ENTERTAINMENT INC NE | $94.6M | 12.82% |
| 3 | DRVN DRIVEN BRANDS HLDGS INC | $90.2M | 12.22% |
| 4 | FAF FIRST AMERN FINL CORP | $65.8M | 8.92% |
| 5 | R RYDER SYS INC | $63.2M | 8.56% |
| 6 | SIX SIX FLAGS ENTERTAINMENT CORP | $49.4M | 6.7% |
| 7 | CLVT CLARIVATE PLC | $42.6M | 5.77% |
| 8 | EQH EQUITABLE HLDGS INC | $40.6M | 5.5% |
| 9 | UGI UGI CORP NEW | $39.9M | 5.41% |
| 10 | NVRI ENVIRI CORP | $34.6M | 4.69% |
| 11 | WSC WILLSCOT HLDGS CORP | $32.7M | 4.43% |
| 12 | PRKS UNITED PARKS & RESORTS INC | $22.0M | 2.98% |
| 13 | IQV IQVIA HLDGS INC | $15.2M | 2.06% |
| 14 | OPTU ALTICE USA INC | $7.5M | 1.01% |
Values as reported on the Q3 2025 Form 13F. Every position is in the holdings table below.