Hedge Fund Dumps All Six Flags Shares Worth $49.4 Million

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According to an SEC filing, HG Vora Capital Management, LLC has sold its entire holding of Six Flags Entertainment (FUN) shares, valued at $49.42 million. The fund previously held 2,175,000 shares, which made up 6.7% of its assets under management in the prior quarter. Six Flags, a leading operator of regional theme parks and resorts, has struggled with losses and a 60% stock price decline over the past year.

Why it matters

The divestment by the prominent hedge fund signals a lack of confidence in Six Flags' ability to turn around its business in the near term. As a major shareholder, HG Vora's decision to fully exit the position raises questions about the company's future prospects and the challenges it faces in reviving its operations.

The details

According to the SEC filing, HG Vora Capital Management sold its entire stake in Six Flags Entertainment on February 17, 2026. The transaction involved 2,175,000 shares, with an estimated value of $49.42 million based on the average share price for the quarter. The fund held no shares of Six Flags at the end of the year.

• HG Vora Capital Management sold its entire Six Flags stake on February 17, 2026.

What they’re saying

What’s next

Six Flags management has outlined plans to invest in enhancing park infrastructure, introducing new attractions, upgrading technology, and improving food and beverage services in an effort to turn the company around. However, the turnaround is likely to take time, and HG Vora was not willing to commit capital for that long.