Q1 2026 13F · SEC CIK 1800261
AREX Capital Management, LP
Hedge fundFiled 2026-05-15 for Q1 2026. Open the filing ↗ · All SEC filings ↗
- Reported 13F value
- $60.5M
- Reported positions
- 26
- Top holdings a year, 3 yrs
- +3.4%
- Assets under management
- $99.4M
AREX Capital Management, LP is a hedge fund that reported 26 positions worth $60.5M in its Q1 2026 13F, filed 2026-05-15. Its largest holdings were Enhabit, Inc. (EHAB, 58.1%), People Inc (PPLI, 16.5%), Genworth Financial Inc. (GNW, 6.9%). A portfolio copying its top holdings returned 3.4% a year over the last 3 years, against 17.6% for the S&P 500.
AREX Capital Management, LP holdings all 26 positions.
Weights are shares of the filer's total reported 13F value, compared with Q4 2025. Share changes may reflect splits; weight changes also reflect price moves. A 13F shows long US-listed positions only, up to 135 days after the fact.
| Stock | % of 13F value | Share change | Reported value |
|---|---|---|---|
| EHABEnhabit, Inc. | 58.1% | +0.0% | $35.1M |
| PPLIPeople Inc | 16.5% | +437.6% | $10.0M |
| GNWGenworth Financial Inc. | 6.9% | — | $4.2M |
| MODGCallaway Golf Company | 4.1% | -60.6% | $2.5M |
| NCRNcr Voyix Corporation | 1.7% | +30.9% | $1.0M |
| SKILSkillsoft Corp | 1.5% | -11.4% | $914K |
| XPOFXponential Fitness Inc | 1.5% | — | $903K |
| TACTransalta Corp | 0.9% | — | $526K |
| RIOTRiot Platforms Inc | 0.9% | — | $525K |
| GOOGAlphabet Inc | 0.8% | — | $488K |
| PRGOPerrigo Co PLC | 0.8% | — | $483K |
| KBRKbr Inc | 0.8% | — | $461K |
| WEXWex Inc | 0.8% | — | $459K |
| AAPLApple Inc | 0.8% | — | $457K |
| CNRCore Nat Res Inc | 0.7% | — | $445K |
| KDKyndryl Hldgs Inc Common Stock | 0.7% | — | $394K |
| FIPFtai Infrastructure Inc | 0.6% | +50.0% | $371K |
| APTVAptiv PLC | 0.3% | — | $208K |
| ARCCAres Capital Corp | 0.3% | — | $171K |
| PSECProspect Capital Corp. | 0.3% | — | $170K |
| BXSLBlackstone Secd Lending Fd | 0.3% | — | $166K |
| OCSLOaktree Specialty Lending Corp | 0.2% | — | $141K |
| MSDLMorgan Stanley Direct Lending Fund | 0.2% | — | $133K |
| HTGCHercules Capital Inc | 0.2% | — | $118K |
| NNNextnav Inc | 0.1% | -78.0% | $88K |
| GSBDGoldman Sachs BDC Inc | 0.1% | — | $79K |
What AREX Capital Management, LP bought and sold in Q1 2026, against Q4 2025.
New positions
- GNW Genworth Financial Inc.6.9% of 13F
- XPOF Xponential Fitness Inc1.5% of 13F
- TAC Transalta Corp0.9% of 13F
- RIOT Riot Platforms Inc0.9% of 13F
- GOOG Alphabet Inc0.8% of 13F
- PRGO Perrigo Co PLC0.8% of 13F
- KBR Kbr Inc0.8% of 13F
- WEX Wex Inc0.8% of 13F
Added to
- PPLI People Inc+437.6% shares
- FIP Ftai Infrastructure Inc+50.0% shares
- NCR Ncr Voyix Corporation+30.9% shares
Reduced
- NN Nextnav Inc-78.0% shares
- MODG Callaway Golf Company-60.6% shares
- SKIL Skillsoft Corp-11.4% shares
Sold out
- FMX Fomento Economico Mexicano Swas 1.9%
- SPB Spectrum Brands Holdings Incwas 0.8%
Share counts compared with the Q4 2025 13F; a split also changes share counts.
How the holdings did against the S&P 500.
- 1 year
- +46.3% /yr
- S&P 500 +20.1%
- 3 years
- +3.4% /yr
- S&P 500 +17.6%
- 5 years
- +0.0% /yr
- S&P 500 +9.6%
A portfolio of the filer's 20 largest 13F positions, weighted by value, bought the trading day after each 13F was filed and held until the next one was: what copying this filer could have earned. 13Fs show long US-listed positions only, so this is an estimate of the stock picks, not the fund's reported returns.
Reported 13F value by quarter.
| Quarter | 13F value | Positions |
|---|---|---|
| Q1 2026 | $60.5M | 26 |
| Q4 2025 | $35.2M | 9 |
| Q3 2025 | $43.4M | 12 |
| Q2 2025 | $51.3M | 19 |
| Q1 2025 | $49.2M | 13 |
| Q4 2024 | $70.2M | 14 |
| Q3 2024 | $82.3M | 13 |
| Q2 2024 | $87.5M | 13 |
| Q1 2024 | $89.3M | 10 |
| Q4 2023 | $68.5M | 11 |
| Q3 2023 | $147.0M | 11 |
| Q2 2023 | $134.9M | 11 |
Questions about AREX Capital Management, LP's portfolio
What stocks does AREX Capital Management, LP own?
AREX Capital Management, LP's latest 13F, for Q1 2026 and filed May 15, 2026, lists 26 positions worth $60.5M. The largest are Enhabit, Inc. (EHAB) at 58.1%, People Inc (PPLI) at 16.5%, Genworth Financial Inc. (GNW) at 6.9%, Callaway Golf Company (MODG) at 4.1% and Ncr Voyix Corporation (NCR) at 1.7%.
What did AREX Capital Management, LP buy last quarter?
In Q1 2026, AREX Capital Management, LP added a new position in Genworth Financial Inc. (GNW), a new position in Xponential Fitness Inc (XPOF), a new position in Transalta Corp (TAC), a new position in Riot Platforms Inc (RIOT), a new position in Alphabet Inc (GOOG), People Inc (PPLI) (+437.6% shares), Ftai Infrastructure Inc (FIP) (+50.0% shares) and Ncr Voyix Corporation (NCR) (+30.9% shares), compared with its Q4 2025 filing.
What did AREX Capital Management, LP sell last quarter?
In Q1 2026, AREX Capital Management, LP sold all of Fomento Economico Mexicano S (FMX), sold all of Spectrum Brands Holdings Inc (SPB), Nextnav Inc (NN) (-78.0% shares), Callaway Golf Company (MODG) (-60.6% shares) and Skillsoft Corp (SKIL) (-11.4% shares), compared with its Q4 2025 filing.
How has AREX Capital Management, LP's portfolio performed?
A portfolio copying AREX Capital Management, LP's 20 largest 13F holdings each quarter, from the day each filing was public, returned +3.4% a year over the last 3 years, against +17.6% for the S&P 500. Over 1 year: +46.3% against +20.1%. Over 5 years: +0.0% a year against +9.6%.
When is AREX Capital Management, LP's next 13F filing due?
13F filings are due 45 days after each quarter ends. AREX Capital Management, LP's filing for the quarter ending Jun 30, 2026 was due by Aug 14, 2026; this page updates once it is processed.
How much money does AREX Capital Management, LP manage?
AREX Capital Management, LP reported $99.4M of regulatory assets under management on its latest SEC Form ADV. Its 13F, which covers only US-listed stocks and options, totals $60.5M.