Alta Fundamental Advisers LLC In its 13F for Q4 2025 (holdings as of December 31, 2025, filed February 11, 2026), Alta Fundamental Advisers LLC reported 20 stock positions worth $211.5 million . Its top holding was USA Today (TDAY) at 27.6% of the portfolio, followed by Propetro (PUMP, 8.1% ) and Peabody Energy (BTU, 7.6% ). Compared with Q3 2025, it opened 2 new positions, sold out of 1, added to 5 and reduced 7. The biggest buy was USA Today (TDAY, shares +1% ) and the biggest sale an exit from Lucky Strike Entertainment C (LUCK).
Location NEW YORK, NY
CIK 0001641604
Portfolio Value $211.5M (Q4 2025) Holdings 20 stocks · $211.5M 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 2025 TDAY USA Today Co. Inc. 11,329,268 $58.3M Add +1.5% PUMP Propetro Holding Corp. 1,798,185 $17.1M Reduce -21.8% BTU Peabody Energy Corp. 542,341 $16.1M Reduce -3.4% LILAK Liberty Latin Americ Class C 2,053,559 $15.3M Add +10.8% INDV Indivior Ltd. 409,529 $14.7M Reduce -13.8% AMR Alpha Metallurgical Resource 69,198 $13.8M Reduce -1.2% GNW Genworth Financial Inc. 1,220,609 $11.0M Add +36.3% CC The Chemours Co. 875,000 $10.3M Add +9.4% PEG Public Service Enterprise GP 123,745 $9.9M Reduce -3.9% ABX Abacus Global Management Inc. 1,097,639 $9.4M No change EXE Expand Energy Corp. 82,960 $9.2M No change ACHR Archer Aviation Inc. Class A 1,168,333 $8.8M Reduce -12.7% HPP Hudson Pacific Properties Inc. 529,390 $5.7M Add +15.5% HYHG Proshares High Yield Interes 48,575 $3.1M New CYH Community Health Systems Inc. 841,829 $2.6M No change ARQ Arq Inc. 781,088 $2.6M Reduce -7.7% OPTU Optimum Communications Inc. Class A 750,000 $1.2M New MBI Mbia Inc. 148,662 $1.1M No change ALIT Alight Inc. Class A 530,366 $1.0M No change TSEOQ Trinseo PLC 152,974 $76K No change
Options reported separately and not counted above: MBIA INC calls ($4.8M), CHEMOURS CO calls ($3.6M).
Other holdings (1): bonds, preferreds, convertibles and warrants · $2.0M (not counted above) Security Class Shares / Principal Value Change HTZWW Hertz Global Hldgs Inc. -CW51 *W EXP 06/30/205 745,105 $2.0M No change
Total filed on the 13F, all lines: $213.5M.
Portfolio Sells Q3 2025 → Q4 2025 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 2025 % Of Portfolio Change To Portfolio ▲ LUCK Lucky Strike Entertainment C Sold out 0.00% −5.52 ACHR Archer Aviation Inc. Class A Reduce -12.7% 4.16% −2.16 ARQ Arq Inc. Reduce -7.7% 1.21% −1.78 PEG Public Service Enterprise GP Reduce -3.9% 4.70% −0.60 BTU Peabody Energy Corp. Reduce -3.4% 7.62% +0.28 AMR Alpha Metallurgical Resource Reduce -1.2% 6.54% +0.88 INDV Indivior Ltd. Reduce -13.8% 6.95% +1.31 PUMP Propetro Holding Corp. Reduce -21.8% 8.09% +2.15
Portfolio Buys Q3 2025 → Q4 2025 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 2025 % Of Portfolio Change To Portfolio ▼ TDAY USA Today Co. Inc. Add +1.5% 27.59% +4.87 HYHG Proshares High Yield Interes New 1.48% +1.48 GNW Genworth Financial Inc. Add +36.3% 5.21% +1.28 OPTU Optimum Communications Inc. Class A New 0.59% +0.59 LILAK Liberty Latin Americ Class C Add +10.8% 7.24% −0.46 CC The Chemours Co. Add +9.4% 4.88% −1.37 HPP Hudson Pacific Properties Inc. Add +15.5% 2.71% −1.65
Options Activity Q3 2025 → Q4 2025 Security Type Change vs Q3 2025 Underlying Shares Value ▼ PFIZER INC call Sold out 200,000 $5.4Mbefore exit BRISTOL-MYERS SQUIBB CO call Sold out 100,000 $5.3Mbefore exit TRONOX HOLDINGS PLC call Sold out 750,000 $4.5Mbefore exit SABLE OFFSHORE CORP put Sold out 270,000 $3.2Mbefore exit GENWORTH FINL INC call Sold out 250,000 $1.8Mbefore exit
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