Arena Capital Advisors, LLC- CA In its 13F for Q1 2025 (holdings as of March 31, 2025, filed May 1, 2025), Arena Capital Advisors, LLC- CA reported 9 stock positions worth $64.3 million . Its top holding was Diebold Nixdorf (DBD) at 96.0% of the portfolio, followed by Ferroglobe (GSM, 1.3% ) and Herbalife (HLF, 0.8% ). Compared with Q4 2024, it opened 1 new position, sold out of 4, added to 1 and reduced 2. The biggest buy was a new position in Victoria's Secret (VSXY) and the biggest sale an exit from Endo (NDOI).
Location LOS ANGELES, CA
CIK 0001833078
Portfolio Value $64.3M (Q1 2025) Holdings 9 stocks · $64.3M Holdings quarter Q2 2026 Q1 2026 Q4 2025 Q3 2025 Q2 2025 Q1 2025 Q4 2024 Q3 2024 Q2 2024 Q1 2024
Stock % Of Portfolio ▼ Shares Held Total Value Change vs Q4 2024 DBD Diebold Nixdorf Inc. 1,411,514 $61.7M Reduce -0.2% GSM Ferroglobe PLC 220,000 $816K No change HLF Herbalife Ltd. 60,910 $526K Add +78.0% PL Planet Labs PBC 154,431 $522K No change VSXY Victoria's Secret & Co. 26,067 $484K New TBLA Taboola.com Ltd. 51,973 $153K No change VSAT Viasat Inc. 5,400 $56K No change DCGO Docgo Inc. 17,670 $47K Reduce -40.8% AUR Aurora Innovation Inc. 7 $47 No change
Other holdings (7): bonds, preferreds, convertibles and warrants · $176K (not counted above) Security Class Shares / Principal Value Change ALVOW Alvotech SA -27 *W EXP 99/99/999 60,714 $92K No change MOBXW Chavrant Capital Acq -CW23 *W EXP 12/21/202 375,000 $39K No change AUROW Aurora Innovation Inc. -CW28 *W EXP 11/03/202 20,288 $29K No change NIOBW Niocorp Developments Ltd. -28 *W EXP 03/17/202 78,035 $12K No change ECXWW Ecarx Holdings Inc. Class A-27 *W EXP 99/99/999 48,842 $3K No change PARAW 7GC & Co. Holdings Class A -CW26 *W EXP 12/14/202 39,028 $917 No change ALURW Allurion Technologies-28 *W EXP 08/01/203 1,813 $53 No change
Total filed on the 13F, all lines: $64.5M.
Portfolio Sells Q4 2024 → Q1 2025 Portfolio Sells quarter Q2 2026 Q1 2026 Q4 2025 Q3 2025 Q2 2025 Q1 2025 Q4 2024 Q3 2024 Q2 2024 Q1 2024
Stock Change vs Q4 2024 % Of Portfolio Change To Portfolio ▲ NDOI Endo Inc. Sold out 0.00% −24.35 MCDIF McDermott International Ltd. Sold out 0.00% −0.13 DCGO Docgo Inc. Reduce -40.8% 0.07% −0.08 GTTNQ GTT Communications Inc. Sold out 0.00% −0.07 CLOUD PEAK ENERGY Sold out 0.00% 0.00 DBD Diebold Nixdorf Inc. Reduce -0.2% 95.95% +22.96
Portfolio Buys Q4 2024 → Q1 2025 Portfolio Buys quarter Q2 2026 Q1 2026 Q4 2025 Q3 2025 Q2 2025 Q1 2025 Q4 2024 Q3 2024 Q2 2024 Q1 2024
Stock Change vs Q4 2024 % Of Portfolio Change To Portfolio ▼ VSXY Victoria's Secret & Co. New 0.75% +0.75 HLF Herbalife Ltd. Add +78.0% 0.82% +0.54
Notes & Other Activity Q4 2024 → Q1 2025 Security Class Change vs Q4 2024 Shares / Principal Value ▼ AVTNF Avation PLC -CW26 *W EXP 99/99/999 Sold out 667,014 $459Kbefore exit IRIS ACQUISITION CORP *W EXP 02/28/202 Sold out 29,166 $1Kbefore exit GROVW Grove Collaborat Hold-CW26 *W EXP 06/16/202 Sold out 99,616 $996before exit INNOVID CORP *W EXP 11/30/202 Sold out 8,450 $866before exit JWSWF Jaws Mustang Acq C -CW26 *W EXP 01/30/202 Sold out 25,000 $625before exit NSTB.WS Northern Star Inv Class A -CW28 *W EXP 01/31/202 Sold out 99,998 $520before exit BHLWQ Benson Hill Inc. -CW25 *W EXP 09/29/202 Sold out 25,000 $18before exit ELIWQ TLG Acquisition One A -CW28 *W EXP 07/31/202 Sold out 100,000 $0before exit GTT COMMUNICATIONS INC -27 *W EXP 99/99/999 Sold out 10,785 $0before exit CZOWF Cazoo Group Ltd.-CW26 *W EXP 08/26/202 Sold out 36,456 $0before exit
Bonds, preferreds, convertibles and warrants; not part of the stock holdings or percentages above.
All Filings Quarter Positions 13F Reported Value Top Holdings Q2 2026 9 $37.5M PSUS, UNIT, PL, VATE, VGSH Q1 2026 9 $21.4M UNIT, PL, SHY, VGSH, HLF Q4 2025 8 $14.3M UNIT, PL, JEF, HLF, VATE Q3 2025 9 $47.1M DBD, UNIT, PL, GSM, VATE Q2 2025 11 $69.0M DBD, FLYYQ, PL, GSM, HLF Q1 2025 9 $64.3M DBD, GSM, HLF, PL, VSXY Q4 2024 12 $83.4M DBD, NDOI, GSM, PL, HLF Q3 2024 12 $91.2M DBD, NDOI, GSM, PL, HLF Q2 2024 15 $86.6M DBD, NDOI, GSM, HLF, PL Q1 2024 15 $62.5M DBD, CNDA, GSM, PL, HLF