United Parks & Resorts Stock Down 35% This Past Year, and One Fund Just Sold Its Entire $14 Million Stake

United Parks & Resorts operates U.S. theme and water parks under brands like SeaWorld, Busch Gardens, and Aquatica.On February 17, 2026, Breach Inlet Capital Management reported selling its entire stake in United Parks & Resorts (PRKS 0.17%), unloading 263,962 shares worth $13.65 million.What happenedAccording to a SEC filing dated February 17, 2026, Breach Inlet Capital Management sold its entire holding of 263,962 shares in United Parks & Resorts (PRKS 0.17%) during the fourth quarter. The fund’s quarter-end position value in PRKS dropped by $13.65 million as a result.What else to knowTop holdings after the filing:NYSE:HGV: $37.83 million (17.8% of AUM)NASDAQ:BATRA: $30.23 million (14.2% of AUM)NASDAQ:DAKT: $25.16 million (11.8% of AUM)NYSE:PRG: $22.50 million (10.6% of AUM)NYSE:MANU: $19.47 million (9.2% of AUM)As of February 17, 2026, shares of United Parks & Resorts were priced at $34.79, down 35.2% over the past year and underperforming the S&P 500 by 45.75 percentage points.Company overviewMetricValueRevenue (TTM)$1.67 billionNet income (TTM)$181.20 millionPrice (as of market close February 17, 2026)$34.79One-year price change(35.24%)Company snapshotUnited Parks operates theme and water parks in the United States under brands including SeaWorld, Busch Gardens, Aquatica, Discovery Cove, Water Country USA, Adventure Island, and Sesame PlaceIts business model centers on operating theme and water parks in major tourist regions, generating revenue from admissions, in-park spending, and special eventsThe company serves families, tourists, and leisure seekers in key U.S. markets such as Orlando, San Antonio, San Diego, Tampa, Williamsburg, Chula Vista, and LanghorneThe company operates a portfolio of theme and water parks across the United States, leveraging well-known brands and a broad geographic footprint in major tourist regions. Its strategy focuses on maximizing guest experience and in-park spending while maintaining a presence in key leisure destinations.What this transaction means for investorsTheme park operators live and die by attendance trends and pricing power. When both wobble at the same time, it gets harder to defend a concentrated position. United Parks & Resorts reported third-quarter revenue of $511.9 million, down 6.2%, while net income fell 25% to $89.3 million and adjusted EBITDA dropped 16% to $216.3 million.That backdrop helps explain why an investor would step aside, especially during a 35% one-year share price decline. And here it’s particularly notable because the move marked a full exit from a position that previously represented a meaningful slice of assets.The remaining top holdings lean heavily toward asset-light, recurring-revenue or cash-flowing service businesses, not weather-sensitive leisure operators. Compared with healthcare distributors, data platforms, and global travel operators in the portfolio, a highly seasonal park operator with falling attendance looks like the odd one out. For long-term investors, the key question remains execution. Management is guiding toward operational improvements and has authorized $500 million in buybacks. But until attendance stabilizes and per-capita pricing reaccelerates, patience may be tested.About the AuthorJonathan Ponciano is a contributing stock market analyst at The Motley Fool. He has nearly a decade of experience as a financial journalist, most recently as an editor and senior reporter at Forbes focused on markets, technology, and entrepreneurship. Jonathan has also written for Investopedia and the Los Angeles Business Journal. He holds a dual B.A. in Business Journalism and Economics from the University of North Carolina at Chapel Hill and an M.B.A. from Columbia Business School. A North Carolina native now based in New York City, Jonathan has also lived in Mexico City and Los Angeles.CMFjonponcStocks MentionedUnited Parks & ResortsNYSE: PRKS$35.48 (0.17%) $0.06*Average returns of all recommendations since inception. Cost basis and return based on previous market day close.