Adam Wyden – ADW Capital Management Portfolio Activity & Recent Trades (Jun 30, 2025)

As of Jun 30, 2025, the ADW Capital Management portfolio activity showed several notable changes in holdings, according to the latest SEC 13F filing reported on Aug 15, 2025. The activity included new positions, additions to existing holdings, reductions, and complete exits, providing a clear view of how the portfolio evolved during the quarter.

During Q2 2025, the filing reported:

New Buys – Olo Inc. (OLO)

Increases – Acuren (TIC)

Reductions – RCI Hospitality Holdings, Inc. (RICK)

Complete Exits –

None reported

These updates highlight how the portfolio adjusted across different sectors and market conditions, offering insights into allocation shifts and investment trends.

Date	Symbol	Name	Type	Change Qty	% Change	Value	Remaining
Q2 2025	OLO Olo Inc.	Olo Inc.	Buy - Position Entry	+1,900,000	-	$16.91M	1,900,000
Q2 2025	RICK RCI Hospitality Holdings, Inc.	RCI Hospitality Holdings, Inc.	Sell	-6,686	-0.8%	$33.54M	879,782
Q2 2025	TIC Acuren	Acuren	Buy	+619,285	+31.0%	$28.86M	2,613,803
Q1 2025	GFL GFL Environmental Inc. Subordin	GFL Environmental Inc. Subordin	Buy	+20,000	+2.0%	$48.79M	1,010,000
Q1 2025	RICK RCI Hospitality Holdings, Inc.	RCI Hospitality Holdings, Inc.	Sell	-2,000	-0.2%	$38.06M	886,468
Q1 2025	TIC Acuren	Acuren	Buy - Position Entry	+1,994,518	-	$22.18M	1,994,518
Q4 2024	APG APi Group Corporation	APi Group Corporation	Sell	-995,983	-48.3%	$38.38M	1,066,922
Q4 2024	PAR PAR Technology Corporation	PAR Technology Corporation	Buy	+445,229	+20.7%	$188.74M	2,597,229
Q4 2024	RICK RCI Hospitality Holdings, Inc.	RCI Hospitality Holdings, Inc.	Sell	-10,746	-1.2%	$51.06M	888,468
Q3 2024	APG APi Group Corporation	APi Group Corporation	Sell	-3,887,095	-65.3%	$68.12M	2,062,905
Q3 2024	PAR PAR Technology Corporation	PAR Technology Corporation	Sell	-144,944	-6.3%	$112.08M	2,152,000
Q3 2024	RICK RCI Hospitality Holdings, Inc.	RCI Hospitality Holdings, Inc.	Sell	-32,878	-3.5%	$40.06M	899,214
Q2 2024	GFL GFL Environmental Inc. Subordin	GFL Environmental Inc. Subordin	Sell	-660,000	-40.0%	$38.54M	990,000
Q2 2024	RICK RCI Hospitality Holdings, Inc.	RCI Hospitality Holdings, Inc.	Sell	-2,500	-0.3%	$40.60M	932,092
Q1 2024	PAR PAR Technology Corporation	PAR Technology Corporation	Buy	+646,830	+39.2%	$104.19M	2,296,944
Q4 2023	RICK RCI Hospitality Holdings, Inc.	RCI Hospitality Holdings, Inc.	Sell	-6,408	-0.7%	$61.93M	934,592
Q3 2023	PLBY PLBY Group, Inc.	PLBY Group, Inc.	Sell - Position Exit	-410,000	-100.0%	$0.00	-
Q3 2023	RICK RCI Hospitality Holdings, Inc.	RCI Hospitality Holdings, Inc.	Sell	-8,000	-0.8%	$57.08M	941,000
Q2 2023	APG APi Group Corporation	APi Group Corporation	Buy	+950,000	+19.0%	$162.20M	5,950,000
Q1 2023	APG APi Group Corporation	APi Group Corporation	Buy	+700,000	+16.3%	$112.40M	5,000,000
Q1 2023	GFL GFL Environmental Inc. Subordin	GFL Environmental Inc. Subordin	Buy	+673,112	+68.9%	$56.83M	1,650,000
Q1 2023	RICK RCI Hospitality Holdings, Inc.	RCI Hospitality Holdings, Inc.	Buy	+50,000	+5.6%	$74.18M	949,000
Q4 2022	APG APi Group Corporation	APi Group Corporation	Buy	+500,000	+13.2%	$80.88M	4,300,000
Q4 2022	GFL GFL Environmental Inc. Subordin	GFL Environmental Inc. Subordin	Buy	+317,888	+48.2%	$28.55M	976,888
Q3 2022	APG APi Group Corporation	APi Group Corporation	Buy	+700,000	+22.6%	$50.43K	3,800,000
Q2 2022	PAR PAR Technology Corporation	PAR Technology Corporation	Sell	-150,000	-8.3%	$61.86K	1,650,114
Q2 2022	RICK RCI Hospitality Holdings, Inc.	RCI Hospitality Holdings, Inc.	Sell	-50,000	-5.3%	$43.48K	899,000
Q1 2022	APG APi Group Corporation	APi Group Corporation	Buy	+57,000	+1.9%	$65.19K	3,100,000
Q1 2022	FAT FAT Brands Inc.	FAT Brands Inc.	Sell	-100	-0.0%	$4.39K	587,400
Q1 2022	GFL GFL Environmental Inc. Subordin	GFL Environmental Inc. Subordin	Sell	-50,000	-7.1%	$21.44K	659,000