ARENA CAPITAL ADVISORS, LLC- CA

Filed: 11/13/2025ACC: 0000898432-25-000890

📋 What this filing means

ARENA CAPITAL ADVISORS, LLC- CA filed this quarterly 13F‑HR report disclosing 25 equity positions with a total reported market value of $240.63M. This filing provides a transparent view of the manager's long equity holdings as of the quarter end.

Positions

$240.63M

Total AUM (reported)

199.22M

Total Shares

Allocation by class

COM SHS$42.65M17.7%

NOTE 3/1$41.16M17.1%

NOTE 4.250%12/0$40.34M16.8%

NOTE 4.250% 6/1$28.43M11.8%

NOTE 3.250% 3/0$25.34M10.5%

NOTE 2.250% 6/0$25.19M10.5%

DEBT 4.500% 8/1$17.45M7.3%

Portfolio Concentration

Top 3$116.37M48.4%

4–10$116.86M48.6%

11–25$7.40M3.1%

Top 3 weight

48.4%

Top 10 weight

96.9%

Voting Authority Distribution

Total shares with voting rights: 199.22M

Sole

Full voting authority

199.22M

% of voting shares100.0%

Shared

Joint voting authority

0.00

% of voting shares0.0%

None

No voting authority

0.00

% of voting shares0.0%

Investment Discretion (by position count)

Sole25

Shared0

Other0

Dominant voting typeSole · 100.0% of voting shares

Institutional Holdings25

Rows:

DRAFTKINGS INC NEW

SOLE

NOTE 3/1

Shares45.73M

TypePRN

Market value$41.16M

17.10%

Sole

45.73M

Shared

0.00

None

0.00

PG&E CORP

SOLE

NOTE 4.250%12/0

Shares39.79M

TypePRN

Market value$40.34M

16.76%

Sole

39.79M

Shared

0.00

None

0.00

DIEBOLD NIXDORF INC

SOLE

COM SHS

Shares611.50K

TypeSH

Market value$34.87M

14.49%

Sole

611.50K

Shared

0.00

None

0.00

HERBALIFE LTD

SOLE

NOTE 4.250% 6/1

Shares30.50M

TypePRN

Market value$28.43M

11.81%

Sole

30.50M

Shared

0.00

None

0.00

PEABODY ENGR CORP

SOLE

NOTE 3.250% 3/0

Shares16.88M

TypePRN

Market value$25.34M

10.53%

Sole

16.88M

Shared

0.00

None

0.00

ALARM COM HLDGS INC

SOLE

NOTE 2.250% 6/0

Shares26.20M

TypePRN

Market value$25.19M

10.47%

Sole

26.20M

Shared

0.00

None

0.00

EVOLENT HEALTH INC

SOLE

DEBT 4.500% 8/1

Shares17.37M

TypePRN

Market value$17.45M

7.25%

Sole

17.37M

Shared

0.00

None

0.00

CSG SYS INTL INC

SOLE

NOTE 3.875% 9/1

Shares8M

TypePRN

Market value$8.91M

3.70%

Sole

Shared

0.00

None

0.00

UNITI GROUP LLC

SOLE

COM SHS

Shares1.17M

TypeSH

Market value$7.18M

2.98%

Sole

1.17M

Shared

0.00

None

0.00

XEROX HOLDINGS CORP

SOLE

NOTE 3.750% 3/1

Shares9.50M

TypePRN

Market value$4.37M

1.82%

Sole

9.50M

Shared

0.00

None

0.00

SPECTRUM BRANDS INC

SOLE

NOTE 3.375% 6/0

Shares2.18M

TypePRN

Market value$2.03M

0.84%

Sole

2.18M

Shared

0.00

None

0.00

PLANET LABS PBC

SOLE

COM CL A

Shares154.43K

TypeSH

Market value$2.00M

0.83%

Sole

154.43K

Shared

0.00

None

0.00

FERROGLOBE PLC

SOLE

SHS

Shares200K

TypeSH

Market value$910.0K

0.38%

Sole

200K

Shared

0.00

None

0.00

INNOVATE CORP

SOLE

COM NEW

Shares127.93K

TypeSH

Market value$625.6K

0.26%

Sole

127.93K

Shared

0.00

None

0.00

HERBALIFE LTD

SOLE

COM SHS

Shares70.91K

TypeSH

Market value$598.5K

0.25%

Sole

70.91K

Shared

0.00

None

0.00

VICTORIAS SECRET AND CO

SOLE

COMMON STOCK

Shares20K

TypeSH

Market value$542.8K

0.23%

Sole

20K

Shared

0.00

None

0.00

PG&E CORP

SOLE

COM

Shares14.75K

TypeSH

Market value$222.4K

0.09%

Sole

14.75K

Shared

0.00

None

0.00

TABOOLA.COM LTD

SOLE

ORD SHS

Shares51.97K

TypeSH

Market value$177.2K

0.07%

Sole

51.97K

Shared

0.00

None

0.00

NIOCORP DEVS LTD

SOLE

*W EXP 03/17/202

Shares78.03K

TypeSH

Market value$143.6K

0.06%

Sole

78.03K

Shared

0.00

None

0.00

ALVOTECH

SOLE

*W EXP 99/99/999

Shares60.71K

TypeSH

Market value$92.2K

0.04%

Sole

60.71K

Shared

0.00

None

0.00

MOBIX LABS INC

SOLE

*W EXP 99/99/999

Shares375K

TypeSH

Market value$33.8K

0.01%

Sole

375K

Shared

0.00

None

0.00

AURORA INNOVATION INC

SOLE

*W EXP 11/03/202

Shares20.29K

TypeSH

Market value$11.8K

<0.01%

Sole

20.29K

Shared

0.00

None

0.00

LIMINATUS PHARMA INC

SOLE

*W EXP 04/30/203

Shares29.17K

TypeSH

Market value$4.3K

<0.01%

Sole

29.17K

Shared

0.00

None

0.00

ECARX HOLDINGS INC

SOLE

*W EXP 99/99/999

Shares48.84K

TypeSH

Market value$2.9K

<0.01%

Sole

48.84K

Shared

0.00

None

0.00

BANZAI INTERNATIONAL INC

SOLE

*W EXP 12/14/202

Shares39.03K

TypeSH

Market value$1.0K

<0.01%

Sole

39.03K

Shared

0.00

None

0.00

Issuer	Class	Shares	Type	Value / Portfolio %	Voting — Sole
DRAFTKINGS INC NEWSOLE	NOTE 3/1	45.73M	PRN	$41.16M 17.10%	45.73M
PG&E CORPSOLE	NOTE 4.250%12/0	39.79M	PRN	$40.34M 16.76%	39.79M
DIEBOLD NIXDORF INCSOLE	COM SHS	611.50K	SH	$34.87M 14.49%	611.50K
HERBALIFE LTDSOLE	NOTE 4.250% 6/1	30.50M	PRN	$28.43M 11.81%	30.50M
PEABODY ENGR CORPSOLE	NOTE 3.250% 3/0	16.88M	PRN	$25.34M 10.53%	16.88M
ALARM COM HLDGS INCSOLE	NOTE 2.250% 6/0	26.20M	PRN	$25.19M 10.47%	26.20M
EVOLENT HEALTH INCSOLE	DEBT 4.500% 8/1	17.37M	PRN	$17.45M 7.25%	17.37M
CSG SYS INTL INCSOLE	NOTE 3.875% 9/1	8M	PRN	$8.91M 3.70%	8M
UNITI GROUP LLCSOLE	COM SHS	1.17M	SH	$7.18M 2.98%	1.17M
XEROX HOLDINGS CORPSOLE	NOTE 3.750% 3/1	9.50M	PRN	$4.37M 1.82%	9.50M
SPECTRUM BRANDS INCSOLE	NOTE 3.375% 6/0	2.18M	PRN	$2.03M 0.84%	2.18M
PLANET LABS PBCSOLE	COM CL A	154.43K	SH	$2.00M 0.83%	154.43K
FERROGLOBE PLCSOLE	SHS	200K	SH	$910.0K 0.38%	200K
INNOVATE CORPSOLE	COM NEW	127.93K	SH	$625.6K 0.26%	127.93K
HERBALIFE LTDSOLE	COM SHS	70.91K	SH	$598.5K 0.25%	70.91K
VICTORIAS SECRET AND COSOLE	COMMON STOCK	20K	SH	$542.8K 0.23%	20K
PG&E CORPSOLE	COM	14.75K	SH	$222.4K 0.09%	14.75K
TABOOLA.COM LTDSOLE	ORD SHS	51.97K	SH	$177.2K 0.07%	51.97K
NIOCORP DEVS LTDSOLE	*W EXP 03/17/202	78.03K	SH	$143.6K 0.06%	78.03K
ALVOTECHSOLE	*W EXP 99/99/999	60.71K	SH	$92.2K 0.04%	60.71K
MOBIX LABS INCSOLE	*W EXP 99/99/999	375K	SH	$33.8K 0.01%	375K
AURORA INNOVATION INCSOLE	*W EXP 11/03/202	20.29K	SH	$11.8K <0.01%	20.29K
LIMINATUS PHARMA INCSOLE	*W EXP 04/30/203	29.17K	SH	$4.3K <0.01%	29.17K
ECARX HOLDINGS INCSOLE	*W EXP 99/99/999	48.84K	SH	$2.9K <0.01%	48.84K
BANZAI INTERNATIONAL INCSOLE	*W EXP 12/14/202	39.03K	SH	$1.0K <0.01%	39.03K