Adam Wyden - ADW Capital Management Investment Strategy & Portfolio Analysis

As of Mar 31, 2026, Adam Wyden's ADW Capital Management portfolio reflects a highly concentrated, high-conviction, thematic, opportunistic approach across 8 reported 13F positions. Portfolio returns are primarily driven by a small set of high-conviction positions such as APi Group, Driven Brands Holdings, and GFL Environmental Inc. Subordin, with the top five holdings accounting for approximately 93% of total exposure and APi Group alone contributing ~26%. Economic outcomes are highly concentrated in a narrow set of industrials and consumer cyclical companies names. Exposure to high-growth and technology-oriented segments remains limited relative to peers, with performance weighted across industrials, consumer discretionary, and communication services. The portfolio maintains moderate turnover, consistent with periodic rebalancing rather than a fully static book. Distinctive traits include Moderate Turnover, Highly Concentrated, Economically Concentrated.