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Park West Asset Management LLC

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13F filer, CIK 1386928, SAN FRANCISCO, CA

Park West Asset Management LLC reported $1,186,847,486 across 46 holdings for the quarter ended 2025-09-30, in a 13F-HR filed 2025-11-14. Its ten largest share positions make up 48.28% of the portfolio.

Filed (acceptance time not in the bulk data set), ingested 13F-HR 0001214659-25-016705

Period
2025-09-30
Reported value
$1.19B
Holdings
46
Top 10 weight
48.28%
New
15
Sold out
13

Largest buys vs the previous quarter

SecurityShares changeApprox. value
TSEMnew+590,000$42.7M
PRMBnew+1,600,000$35.4M
FLUTadded+135,000$34.3M
FLEXadded+573,000$33.2M
IRENnew+681,100$32M

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
FISVexited-320,000-$55.2M
KEXreduced-625,000-$52.2M
TIGOreduced-926,950-$45M
MERIDIANLINK INCexited-2,763,858-$44.9M
RMBSexited-660,000-$42.3M

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 0001214659-25-016705, largest first. % of portfolio is the value over $1,093,505,486, the sum of the share positions whose value is usable for ratios (method).

SecurityHistorySharesValue% of portfolioChangeLatest eventTimeline
GOOGLALPHABET 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: 170,000 shares; 2025Q3: 300,000 shares 300,000$72.9M6.67%+130,000Timeline
FLUTFLUTTER ENTMT 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: not reported; 2025Q2: 150,000 shares; 2025Q3: 285,000 shares 285,000$72.4M6.62%+135,000Timeline
AMZNAMAZON COM INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 331,270 shares; 2024Q4: 186,170 shares; 2025Q1: 237,570 shares; 2025Q2: 250,970 shares; 2025Q3: 285,770 shares 285,770$62.7M5.74%+34,800Timeline
FLEXFLEX LTDQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 1,189,200 shares; 2024Q4: 462,886 shares; 2025Q1: 437,500 shares; 2025Q2: 500,000 shares; 2025Q3: 1,073,000 shares 1,073,000$62.2M5.69%+573,000Timeline
ZZILLOW GROUP INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 1,087,500 shares; 2024Q4: 797,714 shares; 2025Q1: 947,482 shares; 2025Q2: 800,000 shares; 2025Q3: 800,000 shares 800,000$61.6M5.64%0Timeline
WDCWESTERN DIGITAL CORPQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: not reported; 2024Q4: 930,000 shares; 2025Q1: 850,000 shares; 2025Q2: 700,000 shares; 2025Q3: 385,000 shares 385,000$46.2M4.23%-315,000Timeline
TSEMTOWER SEMICONDUCTOR LTDQuarterly 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: 590,000 shares 590,000$42.7M3.9%newTimeline
PRCHPORCH GROUP 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: 1,928,061 shares; 2025Q3: 2,182,916 shares 2,182,916$36.6M3.35%+254,855Timeline
PRMBPRIMO BRANDS CORPORATIONQuarterly 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: 1,600,000 shares 1,600,000$35.4M3.23%newTimeline
CNKCINEMARK HLDGS INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 547,055 shares; 2024Q4: 619,424 shares; 2025Q1: 1,104,682 shares; 2025Q2: 1,043,590 shares; 2025Q3: 1,255,287 shares 1,255,287$35.2M3.22%+211,697Timeline
CPNGCOUPANG 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: 1,216,000 shares; 2025Q3: 1,035,000 shares 1,035,000$33.3M3.05%-181,000Timeline
ALVAUTOLIV INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 400,000 shares; 2024Q4: 625,000 shares; 2025Q1: 541,308 shares; 2025Q2: 411,000 shares; 2025Q3: 259,529 shares 259,529$32.1M2.93%-151,471Timeline
IRENIREN LIMITEDQuarterly 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: 681,100 shares 681,100$32M2.92%newTimeline
LNWOLIGHT & WONDER INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: not reported; 2024Q4: 535,315 shares; 2025Q1: 111,000 shares; 2025Q2: 80,000 shares; 2025Q3: 370,183 shares 370,183$31.1M2.84%+290,183Timeline
VERXVERTEX 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: 1,250,000 shares 1,250,000$31M2.83%newTimeline
CRHCRH PLCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 592,000 shares; 2024Q4: 568,000 shares; 2025Q1: 476,461 shares; 2025Q2: 514,654 shares; 2025Q3: 225,000 shares 225,000$27M2.47%-289,654Timeline
ENVAENOVA INTL 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: 151,525 shares; 2025Q2: 149,811 shares; 2025Q3: 223,711 shares 223,711$25.7M2.35%+73,900Timeline
MCYMERCURY GENL 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: not reported; 2025Q2: not reported; 2025Q3: 282,528 shares 282,528$24M2.19%newTimeline
METAMETA PLATFORMS INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 100,000 shares; 2024Q4: 110,000 shares; 2025Q1: 86,000 shares; 2025Q2: 50,000 shares; 2025Q3: 30,000 shares 30,000$22M2.01%-20,000Timeline
TIGOMILLICOM INTL CELLULAR S AQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: not reported; 2024Q4: 246,497 shares; 2025Q1: 1,510,977 shares; 2025Q2: 1,377,477 shares; 2025Q3: 450,527 shares 450,527$21.9M2%-926,950Timeline
PHRPHREESIA INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: not reported; 2024Q4: 423,570 shares; 2025Q1: 894,501 shares; 2025Q2: 1,121,497 shares; 2025Q3: 905,995 shares 905,995$21.3M1.95%-215,502Timeline
OPCHOPTION CARE HEALTH INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 2,361,178 shares; 2024Q4: 1,946,191 shares; 2025Q1: 1,056,804 shares; 2025Q2: 1,492,304 shares; 2025Q3: 764,525 shares 764,525$21.2M1.94%-727,779Timeline
TOSTTOAST INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 651,369 shares; 2024Q4: 292,075 shares; 2025Q1: 656,575 shares; 2025Q2: 562,075 shares; 2025Q3: 560,575 shares 560,575$20.5M1.87%-1,500Timeline
GTMZOOMINFO TECHNOLOGIES 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: 2,659,900 shares; 2025Q2: 2,559,900 shares; 2025Q3: 1,813,768 shares 1,813,768$19.8M1.81%-746,132Timeline
CPAYCORPAY INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 120,000 shares; 2024Q4: 142,600 shares; 2025Q1: 113,230 shares; 2025Q2: 106,430 shares; 2025Q3: 66,100 shares 66,100$19M1.74%-40,330Timeline
LADLITHIA MTRS 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: 200,400 shares; 2025Q2: 126,158 shares; 2025Q3: 60,000 shares 60,000$19M1.73%-66,158Timeline
TBPHTHERAVANCE BIOPHARMA INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 1,862,988 shares; 2024Q4: 1,792,988 shares; 2025Q1: 1,804,244 shares; 2025Q2: 1,799,081 shares; 2025Q3: 1,284,081 shares 1,284,081$18.7M1.71%-515,000Timeline
FTREFORTREA 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: 2,206,556 shares 2,206,556$18.6M1.7%newTimeline
UTIUNIVERSAL TECHNICAL INST INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 1,903,330 shares; 2024Q4: 1,361,986 shares; 2025Q1: 762,915 shares; 2025Q2: 472,915 shares; 2025Q3: 467,273 shares 467,273$15.2M1.39%-5,642Timeline
FISFIDELITY NATL INFORMATION SVQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 812,250 shares; 2024Q4: not reported; 2025Q1: 349,030 shares; 2025Q2: 340,530 shares; 2025Q3: 208,399 shares 208,399$13.7M1.26%-132,131Timeline
OMFONEMAIN HLDGS INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 1,005,559 shares; 2024Q4: 704,759 shares; 2025Q1: 737,759 shares; 2025Q2: 555,009 shares; 2025Q3: 240,945 shares 240,945$13.6M1.24%-314,064Timeline
BTSGBRIGHTSPRING HEALTH SVCS 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: 838,056 shares; 2025Q3: 453,056 shares 453,056$13.4M1.22%-385,000Timeline
AZTAAZENTA INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: not reported; 2024Q4: 300,000 shares; 2025Q1: 331,743 shares; 2025Q2: 783,743 shares; 2025Q3: 443,515 shares 443,515$12.7M1.16%-340,228Timeline
KEXKIRBY CORPQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 531,914 shares; 2024Q4: 458,279 shares; 2025Q1: 776,000 shares; 2025Q2: 750,000 shares; 2025Q3: 125,000 shares 125,000$10.4M0.95%-625,000Timeline
MAMAMAMAS CREATIONS 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$8.41M0.77%newTimeline
MKSIMKS INC.Quarterly 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: 60,000 shares 60,000$7.43M0.68%newTimeline
KRCKILROY REALTY 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: not reported; 2025Q3: 175,000 shares 175,000$7.39M0.68%newTimeline
DHCDIVERSIFIED HEALTHCARE TRQuarterly 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: 3,576,386 shares; 2025Q2: 3,576,386 shares; 2025Q3: 1,665,002 shares 1,665,002$7.34M0.67%-1,911,384Timeline
WULFTERAWULF 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: 580,000 shares 580,000$6.62M0.61%newTimeline
BLNDBLEND LABS 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: 1,700,000 shares 1,700,000$6.21M0.57%newTimeline
VYXNCR VOYIX CORPORATIONQuarterly 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: 205,495 shares 205,495$2.58M0.24%newTimeline
HPPHUDSON PAC PPTYS 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: 799,000 shares 799,000$2.21M0.2%newTimeline
SPWRWSUNPOWER INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 600,105 shares; 2024Q4: 600,105 shares; 2025Q1: 600,105 shares; 2025Q2: 600,105 shares; 2025Q3: 600,105 shares 600,105$159K0.01%0Timeline

Options

Puts and calls, as filed. The amount and value describe the underlying shares, not the option premium, so they stay out of % of portfolio (H5).

SecurityTypeAmountValueChange
GOOGLALPHABET INC COMcall300,000$72.9Mnew
WDCWESTERN DIGITAL CORP COMcall100,000$12Mnew
CNKCINEMARK HLDGS INC Stockcall300,000$8.41M0

Sold out in Q3 2025

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

SecurityShares beforeValue beforeType
FISVFISERV INC320,000$55.2Mshares
MERIDIANLINK INCMERIDIANLINK INC2,763,858$44.9Mshares
RMBSRAMBUS INC DEL660,000$42.3Mshares
MATXMATSON INC300,000$33.4Mshares
SFDSMITHFIELD FOODS INC1,229,400$28.9Mshares
KSPIKASPI KZ JSC290,028$24.6Mshares
LAURLAUREATE ED INC902,427$21.1Mshares
UNHUNITEDHEALTH GROUP INC59,915$18.7Mshares
GPIGROUP 1 AUTOMOTIVE INC40,000$17.5Mshares
BVBRIGHTVIEW HLDGS INC1,000,000$16.6Mshares
CCOICOGENT COMM HOLDINGS INC221,300$10.7Mshares
PRCHPORCH GROUP INC150,000$1.77Mcall
LAZYDAYS HLDGS INCLAZYDAYS HLDGS INC3,185,729$776Kshares

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 0001214659-25-016705 base2025-11-14acceptance time not in the bulk data set