Arena Capital Advisors, LLC- CA In its 13F for Q2 2025 (holdings as of June 30, 2025, filed August 13, 2025), Arena Capital Advisors, LLC- CA reported 11 stock positions worth $69.0 million . Its top holding was Diebold Nixdorf (DBD) at 78.5% of the portfolio, followed by Spirit Aviation (FLYYQ, 16.9% ) and Planet Labs PBC (PL, 1.4% ). Compared with Q1 2025, it opened 2 new positions and reduced 2. The biggest buy was a new position in Spirit Aviation (FLYYQ) and the biggest sale Diebold Nixdorf (DBD, shares −31% ).
Location LOS ANGELES, CA
CIK 0001833078
Portfolio Value $69.0M (Q2 2025) Holdings 11 stocks · $69.0M 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 Q1 2025 DBD Diebold Nixdorf Inc. 978,025 $54.2M Reduce -30.7% FLYYQ Spirit Aviation Holdings Inc. 2,334,009 $11.6M New PL Planet Labs PBC 154,431 $942K No change GSM Ferroglobe PLC 220,000 $807K No change HLF Herbalife Ltd. 60,910 $525K No change VSXY Victoria's Secret & Co. 20,000 $370K Reduce -23.3% PCG P G & E Corp. 14,750 $206K New TBLA Taboola.com Ltd. 51,973 $190K No change VSAT Viasat Inc. 5,400 $79K No change DCGO Docgo Inc. 17,670 $28K No change AUR Aurora Innovation Inc. 7 $37 No change
Other holdings (8): bonds, preferreds, convertibles and warrants · $210K (not counted above) Security Class Shares / Principal Value Change ALVOW Alvotech SA -27 *W EXP 99/99/999 60,714 $107K No change MOBXW Chavrant Capital Acq -CW23 *W EXP 12/21/202 375,000 $37K No change NIOBW Niocorp Developments Ltd. -28 *W EXP 03/17/202 78,035 $37K No change AUROW Aurora Innovation Inc. -CW28 *W EXP 11/03/202 20,288 $18K No change LIMNW Liminatus Pharma Inc. Class A-28 *W EXP 04/30/203 29,166 $7K New 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 $972 No change ALURW Allurion Technologies-28 *W EXP 08/01/203 1,813 $57 No change
Total filed on the 13F, all lines: $69.2M.
Portfolio Sells Q1 2025 → Q2 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 Q1 2025 % Of Portfolio Change To Portfolio ▲ DBD Diebold Nixdorf Inc. Reduce -30.7% 78.54% −17.41 VSXY Victoria's Secret & Co. Reduce -23.3% 0.54% −0.22
Portfolio Buys Q1 2025 → Q2 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 Q1 2025 % Of Portfolio Change To Portfolio ▼ FLYYQ Spirit Aviation Holdings Inc. New 16.89% +16.89 PCG P G & E Corp. New 0.30% +0.30
Notes & Other Activity Q1 2025 → Q2 2025 Security Class Change vs Q1 2025 Shares / Principal Value ▼ LIMNW Liminatus Pharma Inc. Class A-28 *W EXP 04/30/203 New 29,166 $7K
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