AREX Capital Management, LP Diversified Active

CIK: 0001800261 · Show all filings

Period: Q4 2025 (← Previous)

Filing Date: Feb 17, 2026

Total Value ($000): $35,182 (100.0% shares, 0.0% debt)

Holdings (9)

New Positions (1)

SPB SPECTRUM BRANDS HLDGS INC NE 0.8%

Value ($000) $295 Shares 5,000 Est. Cost $56.25 Unrealized 0.0%

Ticker	Issuer	Shares	Value ($000)	%	Est. Cost	Unrealized	Class	CUSIP
SPB	SPECTRUM BRANDS HLDGS INC NE	5,000	$295	0.8%	$56.25	0.0%	COM	84790A105

Increased Positions (1)

FMX FOMENTO ECONOMICO MEXICANO S 1.9%

Value ($000) $665 (+98.4%) Shares 6,584 (+93.6%) Est. Cost $99.81 Unrealized —

Ticker	Issuer	Shares	Value ($000)	%	Est. Cost	Unrealized	Class	CUSIP
FMX	FOMENTO ECONOMICO MEXICANO S	6,584 (+93.6%)	$665 (+98.4%)	1.9%	$99.81	—	SPON ADR UNITS	344419106

Exited Positions (4)

XRAY DENTSPLY SIRONA INC 5.8%

Value ($000) $2,030 Shares 160,000 Est. Cost $18.61 Unrealized -36.9%

— THE ODP CORP 4.4%

Value ($000) $1,532 Shares 55,000 Est. Cost $41.86 Unrealized —

CNR CORE NATURAL RESOURCES INC 2.0%

Value ($000) $710 Shares 8,500 Est. Cost $70.86 Unrealized +20.2%

BN BROOKFIELD CORP 1.7%

Value ($000) $582 Shares 8,491 Est. Cost $35.02 Unrealized +30.0%

Ticker	Issuer	Shares	Value ($000)	%	Est. Cost	Unrealized	Class	CUSIP
XRAY	DENTSPLY SIRONA INC	160,000	$2,030	5.8%	$18.61	-36.9%	—	24906P109
—	THE ODP CORP	55,000	$1,532	4.4%	$41.86	—	—	88337F105
CNR	CORE NATURAL RESOURCES INC	8,500	$710	2.0%	$70.86	+20.2%	—	218937100
BN	BROOKFIELD CORP	8,491	$582	1.7%	$35.02	+30.0%	—	11271J107

Decreased Positions (6)

VYX NCR VOYIX CORPORATION 3.5%

Value ($000) $1,238 (-73.5%) Shares 121,364 (-67.5%) Est. Cost $14.98 Unrealized -27.5%

SKIL SKILLSOFT CORP 6.4%

Value ($000) $2,238 (-57.4%) Shares 240,661 (-40.3%) Est. Cost $16.72 Unrealized -33.3%

IAC IAC INC 5.2%

Value ($000) $1,818 (-22.1%) Shares 46,500 (-32.1%) Est. Cost $38.00 Unrealized -7.9%

FIP FTAI INFRASTRUCTURE INC 0.7%

Value ($000) $231 (-60.8%) Shares 50,000 (-63.0%) Est. Cost $5.19 Unrealized -5.5%

CALY TOPGOLF CALLAWAY BRANDS CORP 15.0%

Value ($000) $5,287 (+5.1%) Shares 453,000 (-14.4%) Est. Cost $13.09 Unrealized -19.4%

NN NEXTNAV INC 1.2%

Value ($000) $416 (+5.8%) Shares 25,000 (-9.1%) Est. Cost $13.63 Unrealized +4.2%

Ticker	Issuer	Shares	Value ($000)	%	Est. Cost	Unrealized	Class	CUSIP
VYX	NCR VOYIX CORPORATION	121,364 (-67.5%)	$1,238 (-73.5%)	3.5%	$14.98	-27.5%	COM	62886E108
SKIL	SKILLSOFT CORP	240,661 (-40.3%)	$2,238 (-57.4%)	6.4%	$16.72	-33.3%	CL A	83066P309
IAC	IAC INC	46,500 (-32.1%)	$1,818 (-22.1%)	5.2%	$38.00	-7.9%	COM NEW	44891N208
FIP	FTAI INFRASTRUCTURE INC	50,000 (-63.0%)	$231 (-60.8%)	0.7%	$5.19	-5.5%	COMMON STOCK	35953C106
CALY	TOPGOLF CALLAWAY BRANDS CORP	453,000 (-14.4%)	$5,287 (+5.1%)	15.0%	$13.09	-19.4%	COM	131193104
NN	NEXTNAV INC	25,000 (-9.1%)	$416 (+5.8%)	1.2%	$13.63	+4.2%	COMMON STOCK	65345N106

Unchanged Positions (1)

EHAB ENHABIT INC 65.4%

Value ($000) $22,994 Shares 2,493,872 Est. Cost $12.84 Unrealized -32.5%

Ticker	Issuer	Shares	Value ($000)	%	Est. Cost	Unrealized	Class	CUSIP
EHAB	ENHABIT INC	2,493,872	$22,994	65.4%	$12.84	-32.5%	COM	29332G102