AREX Capital Management, LP

CIK 1800261 · View on SEC EDGAR ↗

Portfolio value QoQ: +72.0% 13F does not disclose cash

Top 10 holdings weight92.82%

Top 25 holdings weight99.87%

Positions above 1%7

Effective number of positions2.7

Based on 13F long-equity holdings only (cash, bonds, shorts not disclosed)

Turnover Q1 2026: 10.86% Est. buys $19,024,375 · sells $5,198,494

Median holding: 1.0 quarters Tracked Q1 2025–Q1 2026 · 65.0% still held

New positions19

Increased4

Decreased3

Closed2

Portfolio value $60.5M #8,665 of 9,339 by 13F value · top 92.8%

Positions 26

As of March 31, 2026 Data as of Q1 2026

Performance vs S&P 500

Tracked Q1 2025–Q1 2026 +38.4%

S&P 500 total return (same window) +19.3%

Excess return +19.1%

Annualized: +38.4% · S&P 500: +19.3%

Approximates a buy-and-hold portfolio built from quarterly SEC 13F snapshots. Excludes cash, short positions, options/derivatives, and non-13(f) securities — reflects the disclosed long-equity book only, not total fund AUM. SEC filing lag is up to 45 days; this is not a real-time-copyable timing.

Priceable coverage: 99.1% · Options excluded: 0.0%

Sector breakdown

Health Care 58.9%

Communication Services 17.3%

Financials 9.3%

Consumer Discretionary 5.9%

Technology 4.1%

Industrials 2.9%

Utilities 0.9%

Energy 0.7%

Full portfolio 26 positions

					Streak
EHAB Enhabit, Inc. Common Stock	$35,142,644	58.07%	2,494,155	$12,149,144	Up ×4
IAC IAC Inc. - Common Stock	$10,007,500	16.54%	250,000	$8,189,350	Up ×1
GNW Genworth Financial Inc Common Stock	$4,186,802	6.92%	515,616		Up ×1
CALY Callaway Golf Company Common Stock	$2,480,356	4.10%	178,700	$-2,806,154	Down ×3
VYX NCR Voyix Corporation Common Stock	$1,005,612	1.66%	158,864	$-232,305	Up ×1
SKIL Skillsoft Corp. Class A Common Stock	$914,461	1.51%	213,161	$-1,323,686	Down ×3
XPOF Xponential Fitness, Inc. Class A Common Stock	$903,000	1.49%	150,000		Up ×1
TAC TransAlta Corporation Ordinary Shares	$525,896	0.87%	40,000
RIOT Riot Platforms, Inc. - Common Stock	$525,300	0.87%	42,500		Up ×1
GOOG Alphabet Inc. - Class C Capital Stock	$487,662	0.81%	1,700		Up ×1
PRGO Perrigo Company plc Ordinary Shares	$483,300	0.80%	45,000		Up ×1
KBR KBR, Inc. Common Stock	$460,750	0.76%	12,500		Up ×1
WEX WEX Inc. common stock	$459,120	0.76%	3,000		Up ×1
AAPL Apple Inc. - Common Stock	$456,822	0.75%	1,800		Up ×1
CNR Core Natural Resources, Inc. Common Stock	$445,103	0.74%	4,250
KD Kyndryl Holdings, Inc. Common Stock	$393,600	0.65%	30,000		Up ×1
FIP FTAI Infrastructure Inc. - Common Stock	$370,500	0.61%	75,000	$140,000	Up ×1
APTV Aptiv PLC Ordinary Shares	$208,320	0.34%	3,000		Up ×1
ARCC Ares Capital Corporation - Closed End Fund	$171,190	0.28%	9,500		Up ×1
PSEC Prospect Capital Corporation - Closed End Fund	$169,650	0.28%	65,000		Up ×1
BXSL Blackstone Secured Lending Fund Common Shares of Beneficial Interest	$165,830	0.27%	7,000		Up ×1
OCSL Oaktree Specialty Lending Corporation - Closed End Fund	$141,250	0.23%	12,500		Up ×1
MSDL Morgan Stanley Direct Lending Fund Common Stock	$132,620	0.22%	9,500		Up ×1
HTGC Hercules Capital, Inc. Common Stock	$118,160	0.20%	8,000		Up ×1
NN NextNav Inc. - Common stock	$88,110	0.15%	5,500	$-327,890	Down ×2
GSBD Goldman Sachs BDC, Inc. Common Stock	$79,032	0.13%	8,900		Up ×1
No matches

Conviction holdings

Positions increased for 3+ consecutive quarters.

Share counts are as reported in 13F filings (not split-adjusted)

Security	Value	% of portfolio	Streak
EHAB	$35,142,644	58.07%	up ×4

Biggest new bets

New positions opened this quarter, largest first.

Security	Value	Shares	% of portfolio
GNW	$4,186,802	515,616	6.92%
XPOF	$903,000	150,000	1.49%
TAC	$525,896	40,000	0.87%
RIOT	$525,300	42,500	0.87%
GOOG	$487,662	1,700	0.81%
PRGO	$483,300	45,000	0.80%
KBR	$460,750	12,500	0.76%
WEX	$459,120	3,000	0.76%
AAPL	$456,822	1,800	0.75%
CNR	$445,103	4,250	0.74%
KD	$393,600	30,000	0.65%
APTV	$208,320	3,000	0.34%
ARCC	$171,190	9,500	0.28%
PSEC	$169,650	65,000	0.28%
BXSL	$165,830	7,000	0.27%

Top movers (QoQ)

Security	Action	Shares Δ	Value Δ
EHAB	Bought more	+283	+$12.1M
CALY	Trimmed	-274K	-$2.8M
SKIL	Trimmed	-28K	-$1.3M
NN	Trimmed	-20K	-$328K
VYX	Bought more	+38K	-$232K
FIP	Bought more	+25K	+$140K

1 position hidden — reported move looks larger than the position itself (data completeness check)

Exited positions

Includes corporate events (mergers, delistings) — not all exits are sells

Closed positions reflect 13F reporting changes; for index managers these are often mechanical (delisting, M&A, index rebalancing), not active decisions.

Security	Quarter	Shares before	Value before	Price since exit
NATL	June 30, 2025	87,500	$2,308,250	65.3%
XRAY	Dec. 31, 2025	160,000	$2,030,400	-17.5%
ODP	Dec. 31, 2025	55,000	$1,531,750	No longer tracked
CNNE	Sept. 30, 2025	57,500	$1,198,875	-11.0%
CNR	Dec. 31, 2025	8,500	$709,580	4.1%
FMX	March 31, 2026	6,584	$665,445	15.7%
BN	Dec. 31, 2025	8,491	$582,313	-17.3%
BHF	Sept. 30, 2025	7,500	$403,275	-14.4%
DK	Sept. 30, 2025	17,500	$370,650	130.6%
SPB	March 31, 2026	5,000	$295,400	8.4%
TAC	Sept. 30, 2025	25,000	$269,630	-10.6%
OFIX	Sept. 30, 2025	17,500	$195,125	-33.0%
SHC	Sept. 30, 2025	17,500	$194,600	15.1%
BSLK	Sept. 30, 2025	31,635	$89,210	No longer tracked
VSTS	Sept. 30, 2025	10,000	$57,300	225.6%