Voss Capital, LLC, an investment management company, released its second-quarter 2025 investor letter. A copy of the letter can be downloaded here. Voss Capital’s funds, Voss Value Fund, LP, and the Voss Value Offshore Fund, Ltd returned +1.0% and +0.6% to investors net of fees and expenses respectively, in the second quarter compared to a +8.5% return for the Russell 2000 Index, +5.0% return for the Russell 2000 Value Index, and +10.9% return for the S&P 500 Index. The Voss Value Master Fund’s total gross exposure stood at 165.6% and the net long exposure was 68.9% as of June 30, 2025. The weight of the fund’s top 10 longs was 66.9% and the top 10 shorts were -40.8%. In addition, you can check the fund’s top 5 holdings to determine its best picks for 2025.
In its second-quarter 2025 investor letter, Voss Capital highlighted stocks such as United Parks & Resorts Inc. (NYSE:PRKS). United Parks & Resorts Inc. (NYSE:PRKS) is a U.S.-based theme park and entertainment company. The one-month return of United Parks & Resorts Inc. (NYSE:PRKS) was 10.08%, and its shares gained 5.79% of their value over the last 52 weeks. On August 27, 2025, United Parks & Resorts Inc. (NYSE:PRKS) stock closed at $52.10 per share, with a market capitalization of $2.867 billion.
Voss Capital stated the following regarding United Parks & Resorts Inc. (NYSE:PRKS) in its second quarter 2025 investor letter:
“After years of hand wringing and nervous prattling, United Parks & Resorts Inc. (NYSE:PRKS) has disproven a major part of our bear case as they reported positive attendance growth at their Orlando parks in Q2 (with the trend continuing through early August) despite the ballyhooed opening of Universal Studio’s EPIC universe. On that note, the highlight of Travis’ summer has been doing scuttlebutt research on the new Penguin Trek ride at SeaWorld Orlando (enthusiastically splurging for the Quick Queue pass) and swimming with the dolphins at Discovery Cove. The latter likely achieves 50% EBITDA margins and is worth far more than PRKS current multiple, in our estimation. If Mother Nature cooperates in the second half of the year, we think they should show decent earnings growth in 2025 (with EBITDA growth historically the largest determining factor of multiples in the leisure space). Another highlight of the quarter was the Board’s recommendation for another $500 million share repurchase authorization. This represents about 43% of the float at $50/share (and current short interest would represent ~41% of the post repurchase float). The largest owner, Hill Path, would own ~70% of the shares outstanding after the completion of the repurchase. Our base case price target is $76 (+50%), using 8.7x 2026 EBITDA, a sizeable discount to transaction comps and PRKS’s own long-term history−not to mention this unreasonably ignores PRKS very valuable owned real estate. After a roller coaster of ups and downs, PRKS is back where it was twelve months ago, but we think the probability of a transformative transaction remains elevated over the next twelve.”
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United Parks & Resorts Inc. (NYSE:PRKS) is not on our list of 30 Most Popular Stocks Among Hedge Funds. As per our database, 34 hedge fund portfolios held United Parks & Resorts Inc. (NYSE:PRKS) at the end of the second quarter, which was 37 in the previous quarter. United Parks & Resorts Inc. (NYSE:PRKS) reported total revenue of $490.2 million, in the second quarter of 2025, a decrease of $7.4 million compared to Q2 2024. While we acknowledge the risk and potential of United Parks & Resorts Inc. (NYSE:PRKS) as an investment, our conviction lies in the belief that some AI stocks hold greater promise for delivering higher returns and doing so within a shorter time frame. If you are looking for an AI stock that is more promising than United Parks & Resorts Inc. (NYSE:PRKS) and that has 10,000% upside potential, check out our report about this cheapest AI stock.
In addition, please check out our hedge fund investor letters Q2 2025 page for more investor letters from hedge funds and other leading investors.
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Disclosure: None. This article is originally published at Insider Monkey.
