Glendon Capital Management LP

In its 13F for Q1 2024 (holdings as of March 31, 2024, filed May 13, 2024), Glendon Capital Management LP reported 20 stock positions worth $1.2 billion. Its top holding was Frontier Communications Pare (FYBR) at 50.6% of the portfolio, followed by Expand Energy (EXE, 16.1%) and Ally Financial (ALLY, 8.6%). Compared with Q4 2023, it reduced 3. The biggest sale was Vistra (VST, shares −71%).

Most Recent 13F
Q2 2026
Location
Santa Monica, CA
CIK
0001604350
Portfolio Value
$1.2B (Q1 2024)
SEC Filing
0001604350-24-000003 ↗ filed May 13, 2024

Holdings Value

0$500.0M$1.0B$1.5B$2.0B Q1 2024: $1.2B $1.2B Q1 2024 Q2 2024: $1.2B Q2 2024 Q3 2024: $1.6B Q3 2024 Q4 2024: $1.7B Q4 2024 Q1 2025: $1.7B Q1 2025 Q2 2025: $1.8B Q2 2025 Q3 2025: $1.8B Q3 2025 Q4 2025: $1.7B Q4 2025 Q1 2026: $804.1M Q1 2026 Q2 2026: $771.5M Q2 2026

Holdings 20 stocks · $1.2B
FYBR Frontier Communications Pare 50.56% 24,215,909 $593.3M No change
EXE Expand Energy Corp. filed as CHESAPEAKE ENERGY CORP 16.07% 2,124,060 $188.6M No change
ALLY Ally Financial Inc. 8.60% 2,485,472 $100.9M No change
VST Vistra Corp. 5.04% 848,793 $59.1M Reduce -70.7%
CHRD Chord Energy Corp. 3.65% 240,550 $42.9M No change
ACT Enact Holdings Inc. 3.45% 1,298,718 $40.5M No change
DBD Diebold Nixdorf Inc. 3.44% 1,173,637 $40.4M No change
NRG NRG Energy Inc. 3.44% 595,453 $40.3M Reduce -14.8%
GASS Stealthgas Inc. 2.99% 5,906,056 $35.1M No change
NCMI National Cinemedia Inc. 0.74% 1,678,903 $8.6M No change
FPH Five Point Holdings LLC Class A 0.48% 1,807,320 $5.7M No change
TCSGQ Container Store Group Inc. 0.46% 4,763,546 $5.4M No change
SVC Service Pptys TR 0.40% 692,346 $4.7M No change
COOK Traeger Inc. 0.25% 1,165,546 $2.9M No change
SKIN Skinhealth Systems Inc. filed as THE BEAUTY HEALTH COMPANY 0.24% 636,954 $2.8M No change
ONL Orion Properties Inc. filed as ORION OFFICE REIT INC 0.11% 359,563 $1.3M No change
GOCOQ Gohealth Inc. Class A 0.06% 71,961 $756K No change
VAL Valaris Ltd. 0.00% 658 $50K Reduce -99.6%
NATL NCR Atleos Corp. 0.00% 1,000 $20K No change
INSW International Seaways Inc. 0.00% 158 $0 No change
Other holdings (2): bonds, preferreds, convertibles and warrants · $117.1M (not counted above)
SecurityClassShares / PrincipalValueChange
AFFIRM HOLDINGS INC (AFRM 0 11/15/26) NOTE 11/1 · principal 141,574,000$117.0MNo change
EPR PROPERTIES (EPR 5.75 PERP C) PFD C CV 5.75% 1,000$19KReduce -97.1%

Total filed on the 13F, all lines: $1.3B.

Portfolio Sells Q4 2023 → Q1 2024
VST Vistra Corp. Reduce -70.7% 5.04% −4.20
VAL Valaris Ltd. Reduce -99.6% 0.00% −0.87
NRG NRG Energy Inc. Reduce -14.8% 3.44% +0.45

Portfolio Buys Q4 2023 → Q1 2024
None this quarter.

Notes & Other Activity Q4 2023 → Q1 2024
EPR PROPERTIES (EPR 5.75 PERP C) PFD C CV 5.75% Reduce -97.1% 1,000 $19K

Bonds, preferreds, convertibles and warrants; not part of the stock holdings or percentages above.

All Filings

QuarterPositions13F Reported ValueTop Holdings
Q2 2026 24$771.5MEXE, NRG, ALLY, VST, ACT
Q1 2026 23$804.1MEXE, VST, NRG, TLN, ALLY
Q4 2025 22$1.7BFYBR, EXE, NRG, TLN, VST
Q3 2025 22$1.8BFYBR, EXE, VST, TLN, NRG
Q2 2025 22$1.8BFYBR, EXE, VST, ALLY, NRG
Q1 2025 22$1.7BFYBR, EXE, TLN, ALLY, VST
Q4 2024 22$1.7BFYBR, EXE, TLN, ALLY, VST
Q3 2024 22$1.6BFYBR, EXE, TLN, ALLY, VST
Q2 2024 20$1.2BFYBR, EXE, ALLY, VST, DBD
Q1 2024 20$1.2BFYBR, EXE, ALLY, VST, CHRD