9AT: HILL PATH CAPITAL LP

other names

HILL PATH CAPITAL LP
SIR MANAGEMENT LLC

Adviser Profile

As of Date	03/30/2026
ADV Location	NEW YORK, NY, United States
Adviser Type - Large advisory firm
Number of Employees	21
of those in investment advisory functions	15 -6%
Registration	SEC, Approved, 11/04/2015

AUM^*	3,408,180,964 -16%
of that, discretionary	3,408,180,964 -16%
Private Fund GAV^*	3,408,180,964 -18%
Avg Account Size	136,327,239 -23%
SMA’s	No
Private Funds	28 5
Contact Info	212 xxxxxxx
Websites

Client Types

- Pooled investment vehicles

Advisory Activities

- Portfolio management for pooled investment vehicles

Compensation Arrangments

- A percentage of assets under your management
- Performance-based fees

Fund Type	Count	GAV
Fund TypeHedge Fund	Count15	GAV$2,654,688,310
Fund TypePrivate Equity Fund	Count13	GAV$753,492,654

Adviser	Hedge Fund	Liquidity Fund	Private Equity Fund	Real Estate Fund	Securitized Asset Fund	Venture Capital Fund	Other Fund	Total Private Fund GAV	AUM	#Funds
Adviser CYPRESS CREEK PARTNERS	Hedge Fund-	Liquidity Fund-	Private Equity Fund91.3m	Real Estate Fund-	Securitized Asset Fund-	Venture Capital Fund-	Other Fund143.8m	Total Private Fund GAV235.1m	AUM409.9m	#Funds13
Adviser BLUE ROAD MANAGEMENT, L.P.	Hedge Fund-	Liquidity Fund-	Private Equity Fund1.9b	Real Estate Fund-	Securitized Asset Fund-	Venture Capital Fund-	Other Fund-	Total Private Fund GAV1.9b	AUM2.0b	#Funds10
Adviser EOS MANAGEMENT, L.P.	Hedge Fund748.4m	Liquidity Fund-	Private Equity Fund208.6m	Real Estate Fund-	Securitized Asset Fund-	Venture Capital Fund-	Other Fund-	Total Private Fund GAV957.1m	AUM957.1m	#Funds8
Adviser LIGHT STREET CAPITAL MANAGEMENT, LLC	Hedge Fund1.5b	Liquidity Fund-	Private Equity Fund564.0m	Real Estate Fund-	Securitized Asset Fund-	Venture Capital Fund450.0m	Other Fund-	Total Private Fund GAV3.0b	AUM1.6b	#Funds32
Adviser DISCOVERY CAPITAL MANAGEMENT, LLC	Hedge Fund8.8b	Liquidity Fund-	Private Equity Fund653.1m	Real Estate Fund-	Securitized Asset Fund-	Venture Capital Fund-	Other Fund-	Total Private Fund GAV9.5b	AUM6.7b	#Funds18
Adviser ENDICOTT GROUP	Hedge Fund40.0m	Liquidity Fund-	Private Equity Fund-	Real Estate Fund-	Securitized Asset Fund-	Venture Capital Fund-	Other Fund-	Total Private Fund GAV40.0m	AUM50.8m	#Funds2
Adviser ARENA INVESTORS, LP	Hedge Fund1.8b	Liquidity Fund-	Private Equity Fund872.8m	Real Estate Fund-	Securitized Asset Fund-	Venture Capital Fund-	Other Fund878.3m	Total Private Fund GAV3.5b	AUM3.0b	#Funds37
Adviser SUMMIT ROCK ADVISORS, LP	Hedge Fund8.9b	Liquidity Fund-	Private Equity Fund6.1b	Real Estate Fund-	Securitized Asset Fund-	Venture Capital Fund-	Other Fund-	Total Private Fund GAV15.0b	AUM26.2b	#Funds23
Adviser PFM HEALTH SCIENCES, LP	Hedge Fund1.2b	Liquidity Fund-	Private Equity Fund46.9m	Real Estate Fund-	Securitized Asset Fund-	Venture Capital Fund-	Other Fund-	Total Private Fund GAV1.2b	AUM1.3b	#Funds8
Adviser WHITE OAK GLOBAL ADVISORS, LLC	Hedge Fund1.3b	Liquidity Fund-	Private Equity Fund3.6b	Real Estate Fund-	Securitized Asset Fund-	Venture Capital Fund-	Other Fund-	Total Private Fund GAV4.8b	AUM5.1b	#Funds60

Stock Ticker	Stock Name	$ Position	% Position	$ Change	# Change
Stck Ticker81282V100	Stock NameUNITED PARKS & RESORTS INC	$ Position$987,552,608	% Position64.00%	$ Change-30.00%	# Change0.00%
Stck Ticker43283X105	Stock NameHILTON GRAND VACATIONS INC	$ Position$291,318,607	% Position19.00%	$ Change7.00%	# Change0.00%
Stck Ticker238337109	Stock NameDAVE & BUSTERS ENTMT INC	$ Position$115,403,124	% Position7.00%	$ Change-11.00%	# Change0.00%
Stck Ticker707569109	Stock NamePENN ENTERTAINMENT INC	$ Position$84,957,345	% Position5.00%	$ Change-23.00%	# Change0.00%
Stck Ticker00436Q106	Stock NameACCEL ENTERTAINMENT INC	$ Position$31,823,779	% Position2.00%	$ Change3.00%	# Change0.00%
Stck Ticker14575E105	Stock NameCARS COM INC	$ Position$30,268,590	% Position2.00%	$ Change0.00%	# Change0.00%
Stck Ticker381013101	Stock NameGOLDEN ENTMT INC	$ Position$12,720,597	% Position1.00%	$ Change-18.00%	# Change-29.00%

Brochure Summary

Overview

HPC is an investment advisory firm established in 2014 and organized as a limited partnership under the laws of Delaware and is owned and controlled by Hill Path Holdings LLC, a Delaware limited liability company, which is ultimately controlled by the founder and principal owner, Scott Ross (the “Principal”). HPC provides discretionary investment advice and management services to private investment funds (each, a “Fund”), which are generally structured as limited partnerships or limited liability companies. HPC pursues a long term, contrarian, value-oriented investment strategy applying an active ownership, private equity investment model to public equity markets. HPC also opportunistically will make investments in private companies, public equity and debt. HPC also provides advisory services to certain co-investment vehicles (“Advisory Clients”, and together with the Funds, “Clients”) that are established and operated by third parties. HPC provides ongoing investment advice and monitoring services to these Advisory Clients.

Each Client’s investment objectives, limitations and/or parameters are set forth in such Client’s governing documents (the “Client Documents”) provided to each investor in the given Client (each, an “Investor”). Please also refer to Item 8 of this Brochure for additional detail related to HPC’s investment strategies and related risks. HPC tailors its investment advisory services to each Client. However, HPC does not tailor its advisory services to the individual needs of Investors, and Investors may not impose restrictions on investing in certain securities or types of investments. Persons reviewing this Brochure should not construe this Brochure as an offering of any of the Funds described herein, which will only be made pursuant to delivery of a confidential offering memorandum to prospective eligible investors. HPC does not participate in wrap fee programs. See Item 16 for disclosure related to side letters. As of December 31, 2023, HPC manages approximately $4,071,207,821 in Fund assets on a discretionary basis.

HILL PATH CAPITAL LP

Adviser Profile

Details

Client Types

Advisory Activities

Compensation Arrangments

Reported AUM

Private Funds

Employees

Private Funds Structure

Similar advisers

Top Holdings

Brochure Summary

Overview