Six Flags Named Third-Largest Q4 Detractor After 60.8% Yearly Stock Decline
Broyhill Asset Management listed Six Flags Entertainment as its third-largest detractor in its Q4 2025 letter after stock dropped 7.36% over one month and 60.79% year-over-year. The firm cited over-leverage, setbacks from the Cedar Fair merger, weather-related attendance declines and a CEO departure as drivers of its full exit.
1. Hedge Fund Letter Highlights Underperformance
In its Q4 2025 investor letter, Broyhill Asset Management reported a 1.4% portfolio decline versus the MSCI ACWI’s 22.9% gain and identified Six Flags as its third-largest detractor after an extended underweight position.
2. Integration and Economic Headwinds
The firm pointed to integration challenges from the Cedar Fair merger, weather-driven attendance shortfalls and a weakening discretionary spend among low-income consumers, noting that operational fixes took longer than anticipated.
3. Stock Metrics and Operational Results
Six Flags shares fell 7.36% over one month and 60.79% over the past year; the company reported $650 million in Q4 revenues, $165 million in adjusted EBITDA on 9.3 million park guests and carries a $1.725 billion market capitalization.