Alta Fundamental Advisers LLC In its 13F for Q4 2024 (holdings as of December 31, 2024, filed February 14, 2025), Alta Fundamental Advisers LLC reported 17 stock positions worth $268.4 million . Its top holding was USA Today (TDAY) at 24.8% of the portfolio, followed by Lucky Strike Entertainment C (LUCK, 12.7% ) and Public Service Enterprise GP (PEG, 10.2% ). Compared with Q3 2024, it opened 1 new position, sold out of 5, added to 4 and reduced 2. The biggest buy was a new position in Lazydays and the biggest sale an exit from James River Group Holdings I (JRVR).
Location NEW YORK, NY
CIK 0001641604
Portfolio Value $268.4M (Q4 2024) Holdings 17 stocks · $268.4M Holdings quarter Q2 2026 Q1 2026 Q4 2025 Q3 2025 Q2 2025 Q1 2025 Q4 2024 Q3 2024 Q2 2024 Q1 2024
Stock % Of Portfolio ▼ Shares Held Total Value Change vs Q3 2024 TDAY USA Today Co. Inc. filed as GANNETT CO INC 13,146,482 $66.5M No change LUCK Lucky Strike Entertainment C 3,400,927 $34.0M No change PEG Public Service Enterprise GP 324,032 $27.4M Add +60.1% ACHR Archer Aviation Inc. Class A 2,187,539 $21.3M No change AMR Alpha Metallurgical Resource 88,600 $17.7M No change BTU Peabody Energy Corp. 766,000 $16.0M No change ARQ Arq Inc. 2,044,122 $15.5M No change LAZYDAYS HLDGS INC 14,563,106 $13.2M New CLMT Calumet Inc. 577,221 $12.7M No change ANIK Anika Therapeutics Inc. 700,432 $11.5M Add +136.6% EXE Expand Energy Corp. 100,740 $10.0M No change MIST Milestone Pharmaceuticals Inc. 2,658,589 $6.3M No change ABX Abacus Global Management Inc. 752,087 $5.9M Add +66.4% INDV Indivior Ltd. 400,000 $5.0M Add +23.1% GNW Genworth Financial Inc. 384,000 $2.7M No change TSEOQ Trinseo PLC 390,500 $2.0M Reduce -0.7% OPTU Optimum Communications Inc. Class A filed as ALTICE USA INC 250,000 $603K Reduce -50.0%
Options reported separately and not counted above: UNITED STATES STL CORP NEW calls ($24.0M), PUBLIC SVC ENTERPRISE GRP IN calls ($21.3M), PEABODY ENERGY CORP calls ($7.0M), VALLEY NATL BANCORP puts ($4.5M), JETBLUE AWYS CORP puts ($2.5M), CITIGROUP INC puts ($2.0M), PROSPECT CAP CORP calls ($1.5M), MEDICAL PPTYS TRUST INC calls ($988K), FRONTIER GROUP HLDGS INC puts ($402K).
Other holdings (1): bonds, preferreds, convertibles and warrants · $1.9M (not counted above) Security Class Shares / Principal Value Change HTZWW Hertz Global Hldgs Inc. -CW51 *W EXP 06/30/205 870,293 $1.9M No change
Total filed on the 13F, all lines: $270.3M.
Portfolio Sells Q3 2024 → Q4 2024 Portfolio Sells quarter Q2 2026 Q1 2026 Q4 2025 Q3 2025 Q2 2025 Q1 2025 Q4 2024 Q3 2024 Q2 2024 Q1 2024
Stock Change vs Q3 2024 % Of Portfolio Change To Portfolio ▲ JRVR James River Group Holdings I Sold out 0.00% −1.21 MURA Mural Oncology PLC Sold out 0.00% −0.94 OPTU Optimum Communications Inc. Class A Reduce -50.0% 0.22% −0.29 CCJ Cameco Corp. Sold out 0.00% −0.12 TSEOQ Trinseo PLC Reduce -0.7% 0.74% −0.09 DK Delek US Holdings Inc. Sold out 0.00% −0.04 23ANDME HOLDING CO Sold out 0.00% −0.04
Portfolio Buys Q3 2024 → Q4 2024 Portfolio Buys quarter Q2 2026 Q1 2026 Q4 2025 Q3 2025 Q2 2025 Q1 2025 Q4 2024 Q3 2024 Q2 2024 Q1 2024
Stock Change vs Q3 2024 % Of Portfolio Change To Portfolio ▼ LAZYDAYS HLDGS INC New 4.92% +4.92 PEG Public Service Enterprise GP Add +60.1% 10.20% +2.68 ANIK Anika Therapeutics Inc. Add +136.6% 4.30% +1.25 INDV Indivior Ltd. Add +23.1% 1.85% +0.86 ABX Abacus Global Management Inc. Add +66.4% 2.19% +0.29
Options Activity Q3 2024 → Q4 2024 Security Type Change vs Q3 2024 Underlying Shares Value ▼ UNITED STATES STL CORP NEW call New 500,000 $24.0M PUBLIC SVC ENTERPRISE GRP IN call Reduce -58.3% 250,000 $21.3M PEABODY ENERGY CORP call Sold out 500,000 $12.5Mbefore exit VALLEY NATL BANCORP call Sold out 1,125,000 $11.3Mbefore exit PEABODY ENERGY CORP call New 250,000 $7.0M PEABODY ENERGY CORP put Sold out 350,000 $6.7Mbefore exit VALLEY NATL BANCORP put Reduce -57.1% 1,500,500 $4.5M JETBLUE AWYS CORP put New 500,000 $2.5M CITIGROUP INC put Sold out 100,000 $2.0Mbefore exit CITIGROUP INC put New 100,000 $2.0M MEDICAL PPTYS TRUST INC call Reduce -90.6% 141,100 $988K FRONTIER GROUP HLDGS INC put New 100,400 $402K
Calls and puts are listed by the shares they cover; their value is not part of the stock holdings above.
All Filings Quarter Positions 13F Reported Value Top Holdings Q2 2026 22 $275.6M TDAY, LILAK, PUMP, INDV, CC Q1 2026 20 $252.4M TDAY, LILAK, PUMP, BTU, CC Q4 2025 20 $211.5M TDAY, PUMP, BTU, LILAK, INDV Q3 2025 19 $203.0M TDAY, LILAK, BTU, ACHR, CC Q2 2025 18 $180.2M TDAY, LUCK, ACHR, ARQ, PEG Q1 2025 18 $153.5M TDAY, LUCK, PEG, ACHR, AMR Q4 2024 17 $268.4M TDAY, LUCK, PEG, ACHR, AMR Q3 2024 21 $240.1M TDAY, LUCK, AMR, BTU, PEG Q2 2024 21 $227.1M TDAY, LUCK, AMR, PEG, ARQ Q1 2024 15 $197.7M LUCK, AMR, TDAY, EXE, PEG