Hg Vora Capital Management, Llc
- Regulatory AUM
- $5.9B
- Discretionary
- $5.9B
- Clients
- 30
- Avg AUM / client
- $196M
- Accounts
- 30
- Employees
- 40
AUM over time
Annual snapshots from Form ADV filings · as of Mar 31, 2026
Investments (13F portfolio — 7 positions, $190,792,039)
13F period Mar 31, 2026| # | Issuer | Class | Value | Shares | % of 13F | % of AUM |
|---|---|---|---|---|---|---|
| 1 | Penn Entertainment Inc | COM | $85,295,250 | 5,675,000 | 44.7% | 1.45% |
| 2 | First Amern Finl Corp | COM | $40,695,750 | 675,000 | 21.3% | 0.69% |
| 3 | Ugi Corp New | CONV NOTE | $20,911,505 | 14,878,000 | 11.0% | 0.36% |
| 4 | United Parks & Resorts Inc | COM | $19,596,000 | 600,000 | 10.3% | 0.33% |
| 5 | Driven Brands Hldgs Inc | COM | $11,979,500 | 950,000 | 6.28% | 0.2% |
| 6 | Fossil Group Inc | COM | $9,324,034 | 2,163,349 | 4.89% | 0.16% |
| 7 | Optimum Communications Inc | CL A | $2,990,000 | 2,300,000 | 1.57% | 0.05% |
Top 25 of 7 positions from the manager's latest Form 13F · source filing (EDGAR) ↗. 13F covers long US-listed positions only. "% of AUM" is share of the firm's total regulatory AUM (Form ADV Item 5.F).
Who they serve
| Client type | Clients | AUM | % of AUM |
|---|---|---|---|
| Pooled investment vehicles (non-investment companies) | 30 | $5.9B | 100.0% |
Private funds (13)
Reported in Form ADV Section 7.B.(1), filing of Nov 2024 · $9.2B combined gross assets
People (5)
| Name | Role / title | Credentials | With firm since | Ownership |
|---|---|---|---|---|
| Garthe, Philip, Marvin | Chief Operating Officer | Jun 2009 (17y) | Less than 5% | |
| Lee, Michael | Chief Financial Officer | Jun 2010 (16y) | Less than 5% | |
| Lam, Mandy | General Counsel | Dec 2014 (12y) | Less than 5% | |
| Vora, Parag, M. | Limited Partner | Apr 2017 (9y) | ≈ 56.25% – 100% via Hg Vora Management, Lp | |
| Mclean, Christopher | Chief Compliance Officer | Jun 2017 (9y) | Less than 5% |
Entity owners (Schedule A/B)
| Entity | Title / status | Since | Sch. | Ownership |
|---|---|---|---|---|
| Hg Vora Management, Lp | Sole Member | Apr 2017 | A | 75% or more |
| Hg Vora Management (Gp), Llc | General Partner | Apr 2017 | B | GP / trustee / elected manager of Hg Vora Management, Lp (indirect) |
Undisclosed: 0% – 25% of the firm is not attributable from the filed Schedule A bands.
Estimated effective ownership (look-through of filed bands):
- Vora, Parag, M.: 75% – 100% of Hg Vora Management, Lp × 75% – 100% direct ≈ 56.25% – 100% of the firm
Roster from the IAPD representatives feed; ownership and acquisition dates from Form ADV Schedule A/B. "Since" is the earliest filed registration or acquisition date.
Private funds (13, $9.2B gross assets)
| Fund | Type | Gross assets | Min. investment | Owners |
|---|---|---|---|---|
| Hg Vora Special Opportunities Master Fund, Ltd. | Hedge Fund | $7.6B | $5.0M | 642 |
| Hg Vora Opportunistic Capital Master Fund Ii Lp | Hedge Fund | $1.1B | $0 | 115 |
| Hg Vora Opportunistic Captial Master Fund Iii A Lp | Hedge Fund | $131M | $100K | 72 |
| Hg Vora Opportunistic Capital Master Fund Iii B Lp | Hedge Fund | $131M | $100K | 72 |
| Downriver Master Fund Spc Ltd., For And On Behalf Of Its Segregated Portfolio B | Hedge Fund | $85.3M | $0 | 19 |
| Hg Vora Opportunistic Capital Master Fund Lp | Hedge Fund | $73.7M | $0 | 96 |
| Downriver Series Lp Segregated Portfolio C | Hedge Fund | $64.5M | $0 | 2 |
| Hgv Ocf (Cayman) Iii B 1 Lp | Hedge Fund | $0 | $0 | 0 |
| Hg Vora Opportunistic Capital Fund (Cayman) Iii B Lp | Hedge Fund | $0 | $0 | 0 |
| Hgv Ocf (Cayman) Iii A 1 Lp | Hedge Fund | $0 | $0 | 0 |
| Hg Vora Opportunistic Capital (Icav) Fund Iii | Hedge Fund | $0 | $0 | 0 |
| Hg Vora Opportunistic Capital Fund Iii B Lp | Hedge Fund | $0 | $0 | 0 |
| Hg Vora Opportunistic Capital Fund (Cayman) Iii A Lp | Hedge Fund | $0 | $0 | 0 |
From Form ADV Section 7.B private fund reporting.
Documents (1 archived)
| Form | Period | Size | |
|---|---|---|---|
| Form ADV (full filing) | 03/31/2026 | 5.83 MB | View · PDF · Source ↗ |
Archived copies of the firm's regulatory filings, versioned by content hash.
Disciplinary disclosures
Allegations: THE ALLEGATIONS RELATED TO THE TIMELINESS OF HG VORA CAPITAL MANAGEMENT LLC'S SCHEDULE 13D FILING REGARDING ITS SHAREHOLDINGS IN A PUBLIC COMPANY. Status: Final Sanction Detail: THE $950,000 PENALTY NOTED ABOVE WAS PAID BY HG VORA CAPITAL MANAGEMENT, LLC ON MARCH 5, 2024. Summary: ON MARCH 1, 2024, THE SEC PUBLISHED AN ADMINISTRATIVE ORDER OF SETTLEMENT BETWEEN IT AND THE FIRM (THE "ORDER") IN WHICH THE FIRM NEITHER ADMITTED NOR DENIED THE FINDINGS RELATED TO THE TIMELINESS OF ITS SCHEDULE 13D FILING RELATED TO ITS SHAREHOLDINGS IN A PUBLIC COMPANY. THE ORDER FOUND THAT THE FIRM FILED THE REQUIRED SCHEDULE 13D DISCLOSING A CONTROL PURPOSE ON MAY 13, 2022, BUT SHOULD HAVE FILED THE FORM NO LATER THAN MAY 6, 2022. THE FIRM CONSENTED TO THE ENTRY OF THE SETTLED ADMINISTRATIVE ORDER FINDING VIOLATIONS OF SECTION 13(D)(1) OF THE SECURITIES EXCHANGE ACT OF 1934 AND RULE 13D-1 THEREUNDER, AND AGREED TO A CEASE-AND-DESIST ORDER AGAINST FUTURE VIOLATIONS OF THESE PROVISIONS AND A $950,000 PENALTY.
Disclosure text reproduced verbatim from the firm's own Form ADV filings.
How they charge
- • Percentage of assets under management
- • Performance-based fees
Services
- • Portfolio management for pooled investment vehicles
Custody
Firm reports having custody of client funds or securities (Item 9.A).
No custodian data reported or mined yet.
Source
All data on this page comes from this firm's Form ADV filings, reproduced without modification. Latest filing: Mar 31, 2026.
View current Form ADV (SEC/IAPD) ↗