On November 12, 2025, Bardin Hill Management Partners LP disclosed in an SEC filing that it sold out its entire Frontier Communications Parent (FYBR +0.08%) position.
What happened
Bardin Hill Management Partners LP exited its stake in Frontier Communications Parent, selling all 348,850 shares for a value change of $12,698,140. The firm reported zero shares held as of September 30, 2025. The transaction details were disclosed in a Form 13-F filed with the U.S. Securities and Exchange Commission on November 12, 2025. Full details are available here.
What else to know
Top holdings after the filing:
- NASDAQ: NEXT: $62.98 million (78% of AUM) as of September 30, 2025
- NASDAQ: GSM: $7.98 million (10% of AUM) as of September 30, 2025
- NYSE: CCO: $3.30 million (4.1% of AUM) as of September 30, 2025
- NYSE: LTM: $2.97 million (3.7% of AUM) as of September 30, 2025
- NASDAQ: INDV: $2.11 million (2.6% of AUM) as of September 30, 2025
- As of November 12, 2025, shares were priced at $37.96, up 11.16% over the past year, underperforming the S&P 500 by 3.78 percentage points.
Company overview
| Metric | Value |
|---|---|
| Price (as of market close 2025-11-12) | $37.96 |
| Market Capitalization | $9.50 billion |
| Revenue (TTM) | $6.11 billion |
| Net Income (TTM) | ($381.00 million) |
Company snapshot
- Provides data, Internet, voice, video, and related communications services across 25 U.S. states.
- Operates a network infrastructure serving both consumer and business customers.
- Focuses on subscription-based revenue from residential, small business, and enterprise clients.
Frontier Communications Parent delivers a broad suite of telecommunications services, leveraging its extensive fiber and broadband network to serve a diverse customer base across the United States.
Foolish take
Bardin Hill’s sale of its Frontier Communications shares is notable considering that the fund currently holds only six stocks, primarily in the industrial sector. The lack of diversification is exacerbated by the fact that it invests 78% of its assets in a little-known energy company called NextDecade.
In comparison, holding 7.48% in Frontier may seem like a relative pittance. However, the stock has grown slowly since launching its IPO in 2021. For Bardin Hill, it was only a short-term holding as it did not own any Frontier shares until the first quarter of 2025. From there, it modestly increased its position in Q2 before selling it entirely in the previous quarter.
NASDAQ: FYBR
Key Data Points
Ultimately, we do not know why Bardin Hill exited this position, but the stock has faced headwinds. Although the company steadily added customers, growth was slow for such an essential technology company. Additionally, a $12 billion debt load is a heavy burden considering the $9.5 billion market cap, making its prospects for market-beating growth uncertain at best.
Glossary
13F reportable assets: Assets that institutional investment managers must disclose quarterly to the SEC, showing their holdings.
Assets under management (AUM): The total market value of investments managed on behalf of clients by a fund or firm.
Form 13-F: A quarterly SEC filing required from institutional investment managers to report equity holdings.
Stake: The ownership interest or investment a person or entity holds in a company.
TTM: The 12-month period ending with the most recent quarterly report.
