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HG Vora Capital Management, LLC

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13F filer, CIK 1525362, NEW YORK, NY

HG Vora Capital Management, LLC reported $737,979,100 across 14 holdings for the quarter ended 2025-09-30, in a 13F-HR filed 2025-11-14. Its ten largest share positions make up 89.52% of the portfolio.

Filed (acceptance time not in the bulk data set), ingested 13F-HR 0001214659-25-016722

Period
2025-09-30
Reported value
$738M
Holdings
14
Top 10 weight
89.52%
New
1
Sold out
3

Largest buys vs the previous quarter

SecurityShares changeApprox. value
EQHnew+800,000$40.6M
UGIadded+600,000$20M
FUNadded+775,000$17.6M
WSCadded+550,000$11.6M

Ranked by the share change valued at this quarter's implied price (value over shares in the 13F). A position sold out is valued at the previous quarter's price, its last report.

Largest sells vs the previous quarter

SecurityShares changeApprox. value
PRKSreduced-1,175,000-$60.7M
Rreduced-300,000-$56.6M
MGMexited-1,500,000-$51.6M
BYDexited-500,000-$39.1M
FAFreduced-375,000-$24.1M

Ranked by the share change valued at this quarter's implied price (value over shares in the 13F). A position sold out is valued at the previous quarter's price, its last report.

Holdings, Q3 2025

Share positions as resolved from 13F-HR 0001214659-25-016722, largest first. % of portfolio is the value over $737,979,100, the sum of the share positions whose value is usable for ratios (method).

SecurityHistorySharesValue% of portfolioChangeLatest eventTimeline
PENNPENN ENTERTAINMENT INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 14,500,000 shares; 2024Q4: 14,500,000 shares; 2025Q1: 7,250,000 shares; 2025Q2: 7,250,000 shares; 2025Q3: 7,250,000 shares 7,250,000$140M18.92%0Timeline
CZRCAESARS ENTERTAINMENT INC NEQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 500,000 shares; 2024Q4: 2,250,000 shares; 2025Q1: 3,900,000 shares; 2025Q2: 3,500,000 shares; 2025Q3: 3,500,000 shares 3,500,000$94.6M12.82%0Timeline
DRVNDRIVEN BRANDS HLDGS INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 7,550,000 shares; 2024Q4: 7,400,000 shares; 2025Q1: 6,250,000 shares; 2025Q2: 5,700,000 shares; 2025Q3: 5,600,000 shares 5,600,000$90.2M12.22%-100,000Timeline
FAFFIRST AMERN FINL CORPQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 3,800,000 shares; 2024Q4: 3,345,000 shares; 2025Q1: 2,175,000 shares; 2025Q2: 1,400,000 shares; 2025Q3: 1,025,000 shares 1,025,000$65.8M8.92%-375,000Timeline
RRYDER SYS INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 1,650,000 shares; 2024Q4: 1,200,000 shares; 2025Q1: 810,000 shares; 2025Q2: 635,000 shares; 2025Q3: 335,000 shares 335,000$63.2M8.56%-300,000Timeline
FUNSIX FLAGS ENTERTAINMENT CORPQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: not reported; 2024Q4: not reported; 2025Q1: not reported; 2025Q2: 1,400,000 shares; 2025Q3: 2,175,000 shares 2,175,000$49.4M6.7%+775,000Timeline
CLVTCLARIVATE PLCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: not reported; 2024Q4: not reported; 2025Q1: 12,000,000 shares; 2025Q2: 12,650,000 shares; 2025Q3: 11,125,000 shares 11,125,000$42.6M5.77%-1,525,000Timeline
EQHEQUITABLE HLDGS INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: not reported; 2024Q4: not reported; 2025Q1: not reported; 2025Q2: not reported; 2025Q3: 800,000 shares 800,000$40.6M5.5%newTimeline
UGIUGI CORP NEWQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: not reported; 2024Q4: not reported; 2025Q1: 1,000,000 shares; 2025Q2: 600,000 shares; 2025Q3: 1,200,000 shares 1,200,000$39.9M5.41%+600,000Timeline
NVRIENVIRI CORPQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: not reported; 2024Q4: not reported; 2025Q1: 3,500,000 shares; 2025Q2: 3,500,000 shares; 2025Q3: 2,725,000 shares 2,725,000$34.6M4.69%-775,000Timeline
WSCWILLSCOT HLDGS CORPQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: not reported; 2024Q4: not reported; 2025Q1: 1,400,000 shares; 2025Q2: 1,000,000 shares; 2025Q3: 1,550,000 shares 1,550,000$32.7M4.43%+550,000Timeline
PRKSUNITED PARKS & RESORTS INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 1,300,000 shares; 2024Q4: 500,000 shares; 2025Q1: 1,400,000 shares; 2025Q2: 1,600,000 shares; 2025Q3: 425,000 shares 425,000$22M2.98%-1,175,000Timeline
IQVIQVIA HLDGS INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: not reported; 2024Q4: not reported; 2025Q1: not reported; 2025Q2: 120,000 shares; 2025Q3: 80,000 shares 80,000$15.2M2.06%-40,000Timeline
OPTUOPTIMUM COMMUNICATIONS INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: not reported; 2024Q4: not reported; 2025Q1: 4,700,000 shares; 2025Q2: 3,225,000 shares; 2025Q3: 3,100,000 shares 3,100,000$7.47M1.01%-125,000Timeline

Sold out in Q3 2025

Positions in the previous quarter's report that this quarter's report no longer lists.

SecurityShares beforeValue beforeType
MGMMGM RESORTS INTERNATIONAL1,500,000$51.6Mshares
BYDBOYD GAMING CORP500,000$39.1Mshares
GVAGRANITE CONSTR INC250,000$23.4Mshares

How Q3 2025 was built

Available 13F filings of this filer for the quarter and their roles: the base report is the latest original or restatement, NEW HOLDINGS amendments filed after it are added (method).

FilingRoleAmendmentFiledAcceptedIngested
13F-HR 0001214659-25-016722 base2025-11-14acceptance time not in the bulk data set