Arena Capital Advisors, LLC- CA

LOS ANGELES, CA · CIK 1833078 · 13F filing filed 2026-07-23

SEC-registered investment adviser since 2014 · limited liability company

Assets managed$5.3bn
Staff26 · 9 in investment roles
Main clients (by assets)Private funds 79%, Pension plans 12%, Insurers 8%
Private funds26 (2 hedge) · $3.9bn gross assets
Form ADV · 2026-05-14SEC adviser record

Legal entityARENA CAPITAL ADVISORS, LLC (US)

$207.9m reported value +4.1% vs Q1 2026

21positions

96.0%in top 10

2 new 1 added 4 reduced 2 sold out vs Q1 2026

Holdings, Q2 2026

The small lines show how much was held over the last 4 quarters (adjusted for stock splits).

#	Security	Ticker	Shares	Value	% of portfolio	Change	Shares change
1	PG&E CORP NOTE 4.250%12/0 · principal PCG 4.25 12.01.27 · principal	PCG 4.25 12.01.27	38,713,000	$39.8m19.12%	19.12%	Reduced -2.0m	-1,987,000 -4.9%
2	HERBALIFE LTD NOTE 4.250% 6/1 · principal HLF 4.25 06.15.28 · principal	HLF 4.25 06.15.28	25,000,000	$28.8m13.88%	13.88%	Unchanged
3	ALARM COM HLDGS INC NOTE 2.250% 6/0 · principal ALRM 2.25 06.01.29 · principal	ALRM 2.25 06.01.29	26,600,000	$25.4m12.20%	12.20%	Unchanged
4	EVOLENT HEALTH INC DEBT 4.500% 8/1 · principal DEBT 4.500% 8/1 · principal		29,620,000	$24.1m11.60%	11.60%	Unchanged
5	ALLIANT ENERGY CORP NOTE 3.250% 5/3 · principal LNT 3.25 05.30.28 · principal	LNT 3.25 05.30.28	17,327,000	$19.1m9.21%	9.21%	New
6	SHIFT4 PMTS INC NOTE 0.500% 8/0 · principal FOUR 0.5 08.01.27 · principal	FOUR 0.5 08.01.27	18,331,000	$17.5m8.44%	8.44%	Unchanged
7	PERSHING SQUARE USA LTD COM SHS PSUS	PSUS	437,500	$16.4m7.87%	7.87%	New
8	INTEGER HLDGS CORP DBCV 1.875% 3/1 · principal ITGR 1.875 03.15.30 · principal	ITGR 1.875 03.15.30	13,895,000	$13.6m6.53%	6.53%	Reduced -1.1m	-1,105,000 -7.4%
9	UNITI GROUP LLC COM SHS UNIT	UNIT	845,826	$9.7m4.67%	4.67%	Reduced -176.9k	-176,877 -17.3%
10	PLANET LABS PBC COM CL A PL	PL	154,431	$5.1m2.46%	2.46%	Unchanged
11	INNOVATE CORP COM NEW VATE	VATE	127,934	$2.4m1.15%	1.15%	Unchanged
12	SPECTRUM BRANDS INC NOTE 3.375% 6/0 · principal SPB 3.375 06.01.29 · principal	SPB 3.375 06.01.29	1,929,000	$2.0m0.97%	0.97%	Reduced -750.0k	-750,000 -28.0%
13	VANGUARD SCOTTSDALE FDS SHORT TERM TREAS VGSH	VGSH	30,000	$1.7m0.84%	0.84%	Unchanged
14	HERBALIFE LTD COM SHS HLF	HLF	80,910	$1.1m0.51%	0.51%	Added +10.0k	+10,000 14.1%
15	VANGUARD SCOTTSDALE FDS INTER TERM TREAS VGIT	VGIT	10,000	$589.8k0.28%	0.28%	Unchanged
16	APOLLO GLOBAL MGMT INC COM APO	APO	2,500	$295.8k0.14%	0.14%	Unchanged
17	TABOOLA.COM LTD ORD SHS TBLA	TBLA	51,973	$259.9k0.13%	0.13%	Unchanged
18	MOBIX LABS INC *W EXP 12/21/202 MOBXW	MOBXW	190,616	$17.0k0.01%	0.01%	Unchanged
19	AURORA INNOVATION INC *W EXP 11/03/202 AUROW	AUROW	20,288	$6.5k0.00%	0.00%	Unchanged
20	LIMINATUS PHARMA INC. *W EXP 04/30/203 LIMNW	LIMNW	29,166	$2.2k0.00%	0.00%	Unchanged
21	BANZAI INTERNATIONAL INC *W EXP 12/14/202 PARAW	PARAW	39,028	$3820.00%	0.00%	Unchanged

Sold out since Q1 2026

Security	Ticker	Shares held before	Value then
CSG SYS INTL INC CSGS 3.875 09.15.28	CSGS 3.875 09.15.28	25,425,000	$31.0m25.4m shares
ISHARES TR SHY	SHY	35,000	$2.9m35.0k shares

Stakes above 5%

Companies where this manager has reported owning more than 5% of a class of shares, on Schedule 13D (may seek influence) or 13G (passive): its latest filing for each, from 19 Dec 2024 on.

Company	Ticker	Stake	Change	Schedule	Last filed
SPIRIT AVIATION HLDGS INC FLYYQ · 13G · filed 2025-08-06	FLYYQ	9.9%	new	13G	2025-08-06
ENVIVA INC EVA · 13G · filed 2025-02-05	EVA	9.0%	new	13G	2025-02-05