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Sold 370,396 shares of Diebold Nixdorf, a net position change of $18.6 million.
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The transaction represented a change of 1.20% from 13F reportable AUM.
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The position now accounts for 3.66% of assets under management, placing it outside the fund’s top five investments.
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Glendon Capital Management LP has significantly reduced its stake in the company Diebold Nixdorf (NYSE:DBD) in the third quarter of 2025, according to a recent SEC filing. The fund has dramatically reduced its position in the retail and financial technology company, reducing its position by almost 25%.
According to a filing with the Securities and Exchange Commission dated November 12, 2025, Glendon Capital Management LP sold 370,396 shares of Diebold Nixdorf in the third quarter. The fund’s holdings decreased from 1,548,740 to 1,178,344 shares, with an estimated change in value over the period of approximately $18.60 million. As a result, the position now represents 3.66% of the fund’s reported US equity assets.
Top positions after filing:
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NASDAQ: FYBR: $902,324,419 (49.23% of assets under management)
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NASDAQ: EXE: $226,428,573 (12.35% of assets under management)
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NYSE: VST: $128,666,933 (7.02% of assets under management)
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NASDAQ: TLN: $112,701,028 (6.15% of assets under management)
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NYSE: NRG: $102,085,344 (5.57% of assets under management)
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On November 11, 2025, shares of Diebold Nixdorf were priced at $65.25, up 61.83% over the past year, outperforming shares of Diebold Nixdorf. S&P500 by 44.76 percentage points
|
Metric |
Value |
|---|---|
|
Yield (TTM) |
$3.69 billion |
|
Net income (TTM) |
$50.60 million |
|
Market capitalization |
$2.34 billion |
|
Price (as of market close 2025-11-11) |
$65.25 |
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Diebold Nixdorf, Inc. is a global provider of technology solutions for banking and retail automation and has a significant presence in both the hardware and software sectors.
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The company offers cash recyclers, ATMs, point-of-sale automation, self-checkout terminals, retail and banking software and physical security solutions, generating revenue through both hardware and software platforms.
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It operates a dual-segment business model focused on product sales and recurring service contracts, including managed services, software solutions, maintenance and outsourcing for banking and retail customers.
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Diebold serves global financial institutions, retailers and related enterprises seeking automation, digitalization and omnichannel transaction management solutions.
The sale makes Diebold Nixdorf the seventh largest holding for Glendon Capital, a fund that typically invests primarily in technology and energy companies.
Glendon has owned Diebold shares since the company returned to the public markets in August 2023 following a bankruptcy filing.
Furthermore, Glendon had been steadily increasing its position size through the second quarter of 2025. So the third quarter was notable because it marked the first time Glendon had sold Diebold stock.
Diebold’s stock has also generated significant profits for Glendon. During its little more than two years of existence, it has returned about 217%, far exceeding the S&P 500’s gains.
Moreover, Diebold is profitable, with a net profit of $50.6 million after losing $17 million in 2024. Although it sells at a price-to-earnings ratio of 48, a forward price-to-earnings ratio of 16 could imply that the stock is fairly priced.
Given the reasonable share price and profitability, it is not clear why Glendon has reduced its stake. It’s possible that the forecast of just 2% sales growth in each of the next two years caused some concern. The company may also have needed capital to finance its increased stake in NRG Energy NCR Atelos.
Whatever the reason, investors should also remember that the company retained more than three-quarters of its Diebold shares. With double-digit earnings growth expected this year and into 2026, investors should continue to keep a close eye on Diebold and Glendon’s stake in the company.
13F reportable assets under management: Assets under management required to be disclosed by institutional investment managers in quarterly SEC Form 13F filings.
Net position change: The total increase or decrease in the value of a fund’s position in a particular security following a transaction.
Top positions: The largest investments in a fund’s portfolio, usually ranked by market value or percentage of assets.
Two-segment business model: A business structure with two major revenue-generating divisions, often serving different markets or offering different products.
Recurring service contracts: Agreements that provide ongoing services to customers for a fixed fee, often contributing to predictable revenue streams.
Managed services: Outsourced operational support where a provider manages specific business functions or technology for a customer.
Omnichannel transaction management: Coordinate customer transactions across multiple channels (e.g. online, in-person) for a seamless experience.
Outsourcing: Contracting external suppliers to handle certain business processes or services rather than using internal resources.
Physical security solutions: Products or systems designed to protect physical assets, such as buildings or equipment, from theft or damage.
TTM: The twelve-month period ending with the most recent quarterly report.
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Will Healy has no position in any of the stocks mentioned. The Motley Fool has no position in any of the stocks mentioned. The Motley Fool has a disclosure policy.
Glendon Capital dumps 370,000 Diebold Nixdorf shares worth $18.6 million was originally published by The Motley Fool
