SEC 13F Intelligence

Managers / Q3 2025 · view latest →

AREX Capital Management, LP

CIK 0001800261 · 10 EAST 53RD STREET, 11TH FLOOR, NEW YORK, NY, 10022 · 646-679-4000

Reported Value
$43M
Q3 2025
Positions
12
Filings on Record
26
2019–present window
Filed
Nov 14, 2025
original filing

Summary

Arex Capital Management, LP reported $43M in U.S.-listed holdings across 12 positions for Q3 2025.

The portfolio is heavily concentrated: EHABUSD alone accounts for 45.9% of reported value.

Compared with Q2 2025, the fund opened 1 new position and exited 8.

Portfolio Metrics

Turnover
+3.4%
vs prior filed quarter
Top-10 Concentration
+98.3%
share of reported value
Largest Position
+45.9%
Enhabit
New / Exited
1 / 8
positions this quarter

Methodology: turnover is min(value bought, value sold) ÷ average reported value across the two quarters — value-based, so market moves inflate it slightly versus a share-based measure. Concentration and largest position are shares of the filing’s total reported value, options excluded, with multiple share classes and repeated sub-manager rows for the same issuer combined into one position — the same rule the holdings table uses by default. New/exited counts compare against the prior filed quarter. All figures derive solely from the fund’s 13F filings.

Reported Value by Quarter

13F Reported Value
Q4 ’19: $151MQ4 ’19Q1 ’20: $85MQ2 ’20: $99MQ3 ’20: $156MQ4 ’20: $156MQ4 ’20Q1 ’21: $170MQ2 ’21: $211MQ3 ’21: $214MQ4 ’21: $223MQ4 ’21Q1 ’22: $173MQ2 ’22: $163MQ3 ’22: $151MQ4 ’22: $166MQ4 ’22Q1 ’23: $137MQ2 ’23: $135MQ3 ’23: $147MQ4 ’23: $68MQ4 ’23Q1 ’24: $89MQ2 ’24: $88MQ3 ’24: $82MQ4 ’24: $70MQ4 ’24Q1 ’25: $49MQ2 ’25: $51MQ3 ’25: $43MQ4 ’25: $35MQ4 ’25Q1 ’26: $61Mfilingsflow.com

Portfolio Composition

By security type
Common Stock: 99.2%ADR: 0.8%
  • Common Stock · 99.2% · $43M
  • ADR · 0.8% · $335,342

Quarter-over-Quarter Changes full breakdown →

vs Q2 2025 (amended baseline)

IssuerMoveShare ΔShares nowValue ΔValue now
FMXFOMENTO ECONOMICO MEXICANO SNEW+3.4K3.4K+$335,342$335,342
FIPFTAI INFRASTRUCTURE INCADDED+75.0K135.0K+$218,400$588,600
CNNECANNAE HLDGS INCSOLD OUT−57.5K0−$1M$0
BHFBRIGHTHOUSE FINL INCSOLD OUT−7.5K0−$403,275$0
DKDELEK US HLDGS INC NEWSOLD OUT−17.5K0−$370,650$0
TACTRANSALTA CORPSOLD OUT−25.0K0−$269,630$0
OFIXORTHOFIX MED INCSOLD OUT−17.5K0−$195,125$0
SHCSOTERA HEALTH COSOLD OUT−17.5K0−$194,600$0

Value changes conflate price moves with buying and selling — share changes are the real signal. Share counts are not split-adjusted.

Holdings — Q3 2025

12 positions
Export to Excel
#IssuerClass% PortfolioValue ↓Shares
1EHABUSDENHABIT INChistory →COM45.94%$20M2.49M
2SKILSKILLSOFT CORPhistory →CL A12.10%$5M403.4K
3CALYTOPGOLF CALLAWAY BRANDS CORPhistory →COM11.58%$5M529.3K
4VYXNCR VOYIX CORPORATIONhistory →COM10.78%$5M372.9K
50J7QIAC INChistory →COM NEW5.38%$2M68.5K
6XRAYDENTSPLY SIRONA INChistory →COM4.68%$2M160.0K
7ODP1THE ODP CORPhistory →COM3.53%$2M55.0K
8CNRCORE NATURAL RESOURCES INChistory →COM SHS1.63%$709,5808.5K
9FIPFTAI INFRASTRUCTURE INChistory →COMMON STOCK1.36%$588,600135.0K
10BNBROOKFIELD CORPhistory →CL A LTD VT SH1.34%$582,3138.5K
11KK0NEXTNAV INCCOMMON STOCK0.91%$393,25027.5K
12FMXFOMENTO ECONOMICO MEXICANO SSPON ADR UNITS0.77%$335,3423.4K

Filing History

QuarterReported ValuePositionsFiledTypeLinks
Q1 2026$61M26May 15, 202613F-HRchanges · EDGAR ↗
Q4 2025$35M9Feb 17, 202613F-HRchanges · EDGAR ↗
Q3 2025$43M12Nov 14, 202513F-HRchanges · EDGAR ↗
Q2 2025$51M19Aug 14, 202513F-HRchanges · EDGAR ↗
Q1 2025$49M13May 15, 202513F-HRchanges · EDGAR ↗
Q4 2024$70M14Feb 14, 202513F-HRchanges · EDGAR ↗
Q3 2024$82M13Nov 14, 202413F-HRchanges · EDGAR ↗
Q2 2024$88M13Aug 14, 202413F-HRchanges · EDGAR ↗
Q1 2024$89M10May 15, 202413F-HRchanges · EDGAR ↗
Q4 2023$68M11Feb 14, 202413F-HRchanges · EDGAR ↗
Q3 2023$147M11Nov 14, 202313F-HRchanges · EDGAR ↗
Q2 2023$135M11Aug 14, 202313F-HRchanges · EDGAR ↗
Q1 2023$137M15May 15, 202313F-HRchanges · EDGAR ↗
Q4 2022$166M17Feb 14, 202313F-HRchanges · EDGAR ↗
Q3 2022$151M17Nov 14, 202213F-HRchanges · EDGAR ↗
Q2 2022$163M14Aug 15, 202213F-HRchanges · EDGAR ↗
Q1 2022$173M16May 16, 202213F-HRchanges · EDGAR ↗
Q4 2021$223M19Feb 14, 202213F-HRchanges · EDGAR ↗
Q3 2021$214M17Nov 15, 202113F-HRchanges · EDGAR ↗
Q2 2021$211M16Aug 16, 202113F-HRchanges · EDGAR ↗
Q1 2021$170M14May 17, 202113F-HRchanges · EDGAR ↗
Q4 2020$156M9Feb 16, 202113F-HRchanges · EDGAR ↗
Q3 2020$156M10Nov 16, 202013F-HRchanges · EDGAR ↗
Q2 2020$99M10Aug 14, 202013F-HRchanges · EDGAR ↗
Q1 2020$85M7May 15, 202013F-HRchanges · EDGAR ↗
Q4 2019$151M11Feb 14, 202013F-HRchanges · EDGAR ↗

13F filings are due up to 45 days after quarter end, so holdings shown here lag the fund’s current book. Source: original SEC filing on EDGAR ↗.