Bardin Hill Management Partners LP

In its 13F for Q2 2025 (holdings as of June 30, 2025, filed August 14, 2025), Bardin Hill Management Partners LP reported 35 stock positions worth $158.7 million. Its top holding was Nextdecade (NEXT) at 50.1% of the portfolio, followed by Frontier Communications Pare (FYBR, 8.0%) and Kellanova (K, 6.6%). Compared with Q1 2025, it opened 25 new positions, sold out of 14, added to 4 and reduced 5. The biggest buy was a new position in Everi (EVRI) and the biggest sale an exit from Somnigroup International (SGI).

Most Recent 13F
Q2 2026
Location
NEW YORK, NY
CIK
0001616416
Portfolio Value
$158.7M (Q2 2025)
SEC Filing
0001616416-25-000010 ↗ filed Aug 14, 2025

Holdings Value

0$50.0M$100.0M$150.0M$200.0M$250.0M Q1 2024: $230.5M Q1 2024 Q2 2024: $179.5M Q2 2024 Q3 2024: $187.7M Q3 2024 Q4 2024: $177.3M Q4 2024 Q1 2025: $230.1M Q1 2025 Q2 2025: $158.7M $158.7M Q2 2025 Q3 2025: $79.3M Q3 2025 Q4 2025: $0 Q4 2025 Q1 2026: $0 Q1 2026 Q2 2026: $0 Q2 2026

Holdings 35 stocks · $158.7M
NEXT Nextdecade Corp. 50.07% 8,917,873 $79.5M No change
FYBR Frontier Communications Pare 8.00% 348,850 $12.7M Add +1.1%
K Kellanova 6.63% 132,234 $10.5M Reduce -22.3%
GSM Ferroglobe PLC 4.05% 1,752,967 $6.4M Reduce -7.6%
EVRI Everi Holdings Inc. 4.05% 450,905 $6.4M New
DNB Dun & Bradstreet Holdings Inc. 3.85% 671,652 $6.1M Add +91.9%
TGI Triumph Group Inc. 3.51% 216,547 $5.6M New
SWTX Springworks Therapeutics Inc. 2.66% 89,853 $4.2M Add +169.8%
JBS JBS NV-A 2.45% 265,908 $3.9M New
GLNG Golar LNG Ltd. 1.99% 76,742 $3.2M Reduce -70.7%
SKX Skechers USA Inc. Class A 1.94% 48,836 $3.1M New
CCO Clear Channel Outdoor Holdin 1.81% 2,456,605 $2.9M Reduce -14.6%
LTM Latam Airlines Group SA-ADR 1.68% 65,709 $2.7M Add +167.8%
AGS Playags Inc. 1.57% 198,865 $2.5M New
AMED Amedisys Inc. 1.37% 22,049 $2.2M New
HES Hess Corp. 1.25% 14,370 $2.0M Reduce -25.0%
SAGE Sage Therapeutics Inc. 0.70% 121,519 $1.1M New
INFA Informatica Inc. Class A 0.34% 22,311 $543K New
BPMC Blueprint Medicines Corp. 0.34% 4,210 $540K New
TMS Teamshares Inc. filed as LIVE OAK ACQUISITION CORP V 0.17% 25,000 $268K New
VLOS Velos Acquisition I Corp. filed as M3BRIGADE ACQUISITION V CORP 0.16% 23,173 $262K New
DRDB Roman DBDR Acquisition Corp. 0.16% 25,027 $258K New
NHIC Newhold Investment Cor III-A 0.16% 25,027 $255K New
ONEN One Nuclear Energy Inc. filed as HENNESSY CAP INVT CORP VII 0.16% 25,027 $254K New
SBXDF Silverbox Corp. IV-A 0.16% 23,173 $254K New
AACB Artius II Acquisition Inc. Class A 0.16% 25,027 $253K New
ALDF Aldel Financial II Inc. 0.12% 18,330 $192K New
GPAT GP-Act III Acquisition-A 0.11% 16,474 $174K New
BEAG Bold Eagle Acquisition Cor-A 0.11% 16,043 $168K New
OACC Oaktree Acquisition Corp. I-A 0.08% 12,305 $129K New
LEGT Legato Merger Corp. III 0.08% 11,376 $121K New
HAYMAKER ACQUISITION CORP 4 0.04% 6,074 $67K New
CEPO Cantor Equity Partners I-A 0.03% 4,315 $51K New
CCIX Churchill Capital Corp. Ix 0.02% 3,212 $34K New
FRNM Freenome Inc. filed as PERCEPTIVE CAP SOLUTIONS COR 0.01% 1,159 $12K New

Options reported separately and not counted above: AMED puts ($4.1M), WBA puts ($2.0M), JNPR puts ($1.6M), SOC calls ($1.3M), DCH puts ($999K).

Other holdings (1): bonds, preferreds, convertibles and warrants · $872K (not counted above)
SecurityClassShares / PrincipalValueChange
ARRAY TECHNOLOGIES INC (ARRY 1 12/01/28) NOTE 1.000%12/0 · principal 1,100,000$872KNo change

Total filed on the 13F, all lines: $159.6M.

Portfolio Sells Q1 2025 → Q2 2025
SGI Somnigroup International Inc. Sold out 0.00% −7.70
ITCI Intra-Cellular Therapies Inc. Sold out 0.00% −6.13
SPR Spirit Aerosystems Hold Class A Sold out 0.00% −4.93
BECN Beacon Roofing Supply Inc. Sold out 0.00% −4.54
VRN Veren Inc. Sold out 0.00% −4.20
PLYA Playa Hotels & Resorts NV Sold out 0.00% −3.50
X United States Steel Corp. Sold out 0.00% −2.62
OMC Omnicom Group Sold out 0.00% −2.52
HEES H&E Equipment Services Inc. Sold out 0.00% −2.50
FUN Six Flags Entertainment Corp. Sold out 0.00% −2.43
GLNG Golar LNG Ltd. Reduce -70.7% 1.99% −2.33
LVS Las Vegas Sands Corp. Sold out 0.00% −1.81
ANSS Ansys Inc. Sold out 0.00% −1.81
DESP Despegar.com Corp. Sold out 0.00% −1.19
DM Desktop Metal Inc. Class A Sold out 0.00% −0.08
HES Hess Corp. Reduce -25.0% 1.25% −0.08
CCO Clear Channel Outdoor Holdin Reduce -14.6% 1.81% +0.42
K Kellanova Reduce -22.3% 6.63% +0.53
GSM Ferroglobe PLC Reduce -7.6% 4.05% +0.99

Portfolio Buys Q1 2025 → Q2 2025
EVRI Everi Holdings Inc. New 4.05% +4.05
TGI Triumph Group Inc. New 3.51% +3.51
FYBR Frontier Communications Pare Add +1.1% 8.00% +2.63
DNB Dun & Bradstreet Holdings Inc. Add +91.9% 3.85% +2.49
JBS JBS NV-A New 2.45% +2.45
SWTX Springworks Therapeutics Inc. Add +169.8% 2.66% +2.02
SKX Skechers USA Inc. Class A New 1.94% +1.94
AGS Playags Inc. New 1.57% +1.57
AMED Amedisys Inc. New 1.37% +1.37
LTM Latam Airlines Group SA-ADR Add +167.8% 1.68% +1.35
SAGE Sage Therapeutics Inc. New 0.70% +0.70
INFA Informatica Inc. Class A New 0.34% +0.34
BPMC Blueprint Medicines Corp. New 0.34% +0.34
TMS Teamshares Inc. New 0.17% +0.17
VLOS Velos Acquisition I Corp. New 0.16% +0.16
DRDB Roman DBDR Acquisition Corp. New 0.16% +0.16
NHIC Newhold Investment Cor III-A New 0.16% +0.16
ONEN One Nuclear Energy Inc. New 0.16% +0.16
SBXDF Silverbox Corp. IV-A New 0.16% +0.16
AACB Artius II Acquisition Inc. Class A New 0.16% +0.16
ALDF Aldel Financial II Inc. New 0.12% +0.12
GPAT GP-Act III Acquisition-A New 0.11% +0.11
BEAG Bold Eagle Acquisition Cor-A New 0.11% +0.11
OACC Oaktree Acquisition Corp. I-A New 0.08% +0.08
LEGT Legato Merger Corp. III New 0.08% +0.08
HAYMAKER ACQUISITION CORP 4 New 0.04% +0.04
CEPO Cantor Equity Partners I-A New 0.03% +0.03
CCIX Churchill Capital Corp. Ix New 0.02% +0.02
FRNM Freenome Inc. New 0.01% +0.01

Options Activity Q1 2025 → Q2 2025
BECN Beacon Roofing Supply Inc. call Sold out 212,100 $26.2Mbefore exit
SPR Spirit Aerosystems Hold Class A put Sold out 373,700 $12.9Mbefore exit
GLNG Golar LNG Ltd. put Sold out 182,800 $6.9Mbefore exit
DM Desktop Metal Inc. Class A call Sold out 1,302,000 $6.4Mbefore exit
BA The Boeing Co. put Sold out 36,300 $6.2Mbefore exit
HEES H&E Equipment Services Inc. put Sold out 60,600 $5.7Mbefore exit
X United States Steel Corp. call Sold out 104,000 $4.4Mbefore exit
AMED Amedisys Inc. put New 42,100 $4.1M
SWTX Springworks Therapeutics Inc. call Sold out 84,000 $3.7Mbefore exit
BA The Boeing Co. call Sold out 19,800 $3.4Mbefore exit
WBA Walgreens Boots Alliance Inc. put New 176,700 $2.0M
JNPR Juniper Networks Inc. put New 40,400 $1.6M
SOC Sable Offshore Corp. call New 60,100 $1.3M
DCH Dauch Corporation put New 244,900 $999K
DESP Despegar.com Corp. put Sold out 40,000 $752Kbefore exit

Calls and puts are listed by the shares they cover; their value is not part of the stock holdings above.

All Filings

QuarterPositions13F Reported ValueTop Holdings
Q2 2026 0$0
Q1 2026 0$0
Q4 2025 0$0
Q3 2025 5$79.3MNEXT, GSM, CCO, LTM, INDV
Q2 2025 35$158.7MNEXT, FYBR, K, GSM, EVRI
Q1 2025 24$230.1MNEXT, SGI, ITCI, K, FYBR
Q4 2024 26$177.3MNEXT, K, HCP, GLNG, SPR
Q3 2024 29$187.7MNEXT, AXONICS INC, HCP, AMED, K
Q2 2024Amended 23$179.5MNEXT, EDR, AMED, ACI, GSM
Q1 2024 26$230.5MNEXT, PXD, HOLI, EDR, LSXMK