Arena Capital Sells $35 Million of Diebold Nixdorf Stock
Key Points
Arena Capital sold its entire Diebold Nixdorf stake, or 611,495 shares reported in its previous 13F.
Quarter-end position value fell by $35 million, reflecting both trading and price changes.
Change represented 21% of the fund's value disclosed in the 13F.
Post-trade, Arena Capital Advisors holds zero shares of DBD.
Diebold Nixdorf was previously 15% of fund's disclosed securities portfolio.
On Feb. 3, 2026, Arena Capital Advisors, LLC- CA disclosed in a U.S. Securities and Exchange Commission (SEC) filing that it sold out its entire position in Diebold Nixdorf (NYSE:DBD), with an estimated transaction value of $34.9 million based on quarterly average pricing.
What happened
An SEC filing dated Feb. 3, 2026, shows Arena Capital Advisors, LLC- CA liquidated its full holding of 611,495 shares in Diebold Nixdorf. The estimated transaction value was $34.9 million, calculated using the average closing price during the quarter. The firm reported no position in the stock for the fourth quarter.
What else to know
- The fund completely sold out of Diebold Nixdorf.
- Top holdings after the filing:
- NASDAQ:UNIT: $8.2 million (4.9% of portfolio)
- NYSE:PL: $3.0 million (1.8% of portfolio)
- NYSE:JEF: $0.9 million (0.6% of portfolio)
- NYSE:HLF: $0.9 million (0.5% of portfolio)
- NYSE:VATE: $0.6 million (0.3% of portfolio)
- As of Feb. 3, 2026, Diebold Nixdorf shares were trading at $70.99, up 68.8% over the past year and outperforming the S&P 500 by 53.4 percentage points.
- The Diebold Nixdorf position was previously 15% of the fund’s disclosed securities portfolio in the prior quarter; the move aligns with a broader 31% reduction in the disclosed value of the securities holdings during the period.
Company overview
| Metric | Value |
|---|---|
| Revenue (TTM) | $3.8 billion |
| Net income (TTM) | $97.4 million |
| Market capitalization (as of 2/17/2026) | $2.95 billion |
| Price (as of market close 2/17/26) | $83.43 |
Company snapshot
- Diebold Nixdorf provides cash recyclers, dispensers, teller automation, kiosks, security solutions, and the DN Vynamic software suite for banking and retail sectors.
- The company generates revenue through hardware sales, software licensing, managed services, and maintenance contracts, supporting both transaction processing and asset management.
- Primary customers include global banks and major retailers seeking automation, digital transformation, and omnichannel consumer engagement solutions.
Diebold Nixdorf operates at scale with $3.8 billion in trailing-12-month revenue and a global workforce of approximately 20,000 employees. The company leverages a comprehensive portfolio of hardware, software, and managed services to support the ongoing digitization of banking and retail environments. Its competitive edge is driven by integrated solutions that address both operational efficiency and consumer experience for financial institutions and retailers worldwide.
What this transaction means for investors
Diebold Nixdorf delivered a market-beating return in 2025, rising 57%. Arena Capital may have bought at much lower prices and was sitting on significant gains. Value investors will often sell fully priced assets to raise cash for better opportunities elsewhere.
This was one of Arena Capital’s largest stock holdings, so selling to reinvest in something that offered a better return prospect would make sense. Diebold Nixdorf saw modest revenue growth last year, with solid profitability. The market is fully recognizing its prospects, with the stock trading at a higher valuation.
Notably, the firm added to its stakes in beaten-down names like Jefferies Financial Group. This indicates a typical rotation from fairly valued stocks to undervalued stocks.
John Ballard has no position in any of the stocks mentioned. The Motley Fool has positions in and recommends Jefferies Financial Group and Planet Labs PBC. The Motley Fool has a disclosure policy.