Adam Wyden - ADW Capital Management 13F Activity & Position Changes (Q4 2025)

According to the SEC 13F filed on Feb 17, 2026, the ADW Capital Management portfolio showed several notable changes in holdings as of quarter-end Dec 31, 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 Q4 2025, the filing reported:

New Buys - Scholastic Corporation

Increases - APi Group Corporation

Reductions - None reported

Complete Exits - FAT Brands Inc., RCI Hospitality Holdings, Inc., NCR Voyix Corporation

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
Q4 2025	APG APi Group Corporation	APi Group Corporation	Buy	+482,110	+48.2%	$56.71M	1,482,110
Q4 2025	FAT FAT Brands Inc.	FAT Brands Inc.	Sell - Position Exit	-587,400	-100.0%	$0.00	-
Q4 2025	RICK RCI Hospitality Holdings, Inc.	RCI Hospitality Holdings, Inc.	Sell - Position Exit	-821,000	-100.0%	$0.00	-
Q4 2025	SCHL Scholastic Corporation	Scholastic Corporation	Buy - Position Entry	+34,000	-	$1.01M	34,000
Q4 2025	VYX NCR Voyix Corporation	NCR Voyix Corporation	Sell - Position Exit	-2,250,000	-100.0%	$0.00	-