Glendon Capital Management LP

Name: Glendon Capital Management LP 13F holdings, Q4 2024
Creator: Glendon Capital Management LP
Published: 2025-02-12

Q2 2026Q1 2026Q4 2025Q3 2025Q2 2025Q1 2025Q3 2024Q2 2024Q1 2024

In its 13F for Q4 2024 (holdings as of December 31, 2024, filed February 12, 2025), Glendon Capital Management LP reported 22 stock positions worth $1.7 billion. Its top holding was Frontier Communications Pare (FYBR) at 50.8% of the portfolio, followed by Expand Energy (EXE, 12.9%) and Talen Energy (TLN, 8.9%). Compared with Q3 2024, it opened 1 new position, sold out of 1, added to 2 and reduced 2. The biggest buy was Expand Energy (EXE, shares +1%) and the biggest sale an exit from Container Store (TCSGQ).

Most Recent 13F: Q2 2026
Location: Santa Monica, CA
CIK: 0001604350
Portfolio Value: $1.7B (Q4 2024)
SEC Filing: 0001604350-25-000012 ↗ filed Feb 12, 2025

Holdings Value

Holdings 22 stocks · $1.7B


FYBR Frontier Communications Pare	50.81%	24,215,909	$840.3M	No change
EXE Expand Energy Corp.	12.90%	2,143,739	$213.3M	Add +0.9%
TLN Talen Energy Corp.	8.85%	726,870	$146.4M	No change
ALLY Ally Financial Inc.	5.41%	2,485,472	$89.5M	No change
VST Vistra Corp.	4.83%	578,893	$79.8M	No change
DBD Diebold Nixdorf Inc.	3.43%	1,318,050	$56.7M	Add +4.8%
NRG NRG Energy Inc.	2.92%	535,953	$48.4M	No change
ACT Enact Holdings Inc.	2.54%	1,298,718	$42.1M	No change
GASS Stealthgas Inc.	2.02%	5,906,056	$33.4M	No change
CHRD Chord Energy Corp.	1.70%	240,550	$28.1M	No change
WSBC Wesbanco Inc.	1.51%	769,091	$25.0M	Reduce -15.4%
AFRM Affirm Holdings Inc.	1.24%	336,000	$20.5M	No change
NCMI National Cinemedia Inc.	0.67%	1,678,903	$11.1M	No change
FPH Five Point Holdings LLC Class A	0.39%	1,708,375	$6.5M	Reduce -5.5%
BBT Beacon Financial Corp. filed as BERKSHIRE HILLS BANCORP INC	0.30%	172,413	$4.9M	New
COOK Traeger Inc.	0.17%	1,165,546	$2.8M	No change
SVC Service Pptys TR	0.11%	692,346	$1.8M	No change
ONL Orion Properties Inc. filed as ORION OFFICE REIT INC	0.08%	359,563	$1.3M	No change
SKIN Skinhealth Systems Inc. filed as THE BEAUTY HEALTH COMPANY	0.06%	636,954	$1.0M	No change
GOCOQ Gohealth Inc. Class A	0.06%	71,961	$964K	No change
NATL NCR Atleos Corp.	0.00%	1,000	$34K	No change
VAL Valaris Ltd.	0.00%	658	$29K	No change

Other holdings (2): bonds, preferreds, convertibles and warrants · $3.2M (not counted above)

Security	Class	Shares / Principal	Value	Change
AFFIRM HOLDINGS INC (AFRM 0 11/15/26)	NOTE 11/1 · principal	3,574,000	$3.2M	Reduce -79.7%
EPR PROPERTIES (EPR 5.75 PERP C)	PFD C CV 5.75%	1,000	$21K	No change

Total filed on the 13F, all lines: $1.7B.

Portfolio Sells Q3 2024 → Q4 2024


TCSGQ Container Store Group Inc.	Sold out	0.00%	−0.18
WSBC Wesbanco Inc.	Reduce -15.4%	1.51%	−0.16
FPH Five Point Holdings LLC Class A	Reduce -5.5%	0.39%	−0.07

Portfolio Buys Q3 2024 → Q4 2024


EXE Expand Energy Corp.	Add +0.9%	12.90%	+2.11
BBT Beacon Financial Corp.	New	0.30%	+0.30
DBD Diebold Nixdorf Inc.	Add +4.8%	3.43%	−0.04

Notes & Other Activity Q3 2024 → Q4 2024


AFFIRM HOLDINGS INC (AFRM 0 11/15/26)	NOTE 11/1 · principal	Reduce -79.7%	3,574,000	$3.2M

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

All Filings

Quarter	Positions	13F Reported Value	Top Holdings
Q2 2026	24	$771.5M	EXE, NRG, ALLY, VST, ACT
Q1 2026	23	$804.1M	EXE, VST, NRG, TLN, ALLY
Q4 2025	22	$1.7B	FYBR, EXE, NRG, TLN, VST
Q3 2025	22	$1.8B	FYBR, EXE, VST, TLN, NRG
Q2 2025	22	$1.8B	FYBR, EXE, VST, ALLY, NRG
Q1 2025	22	$1.7B	FYBR, EXE, TLN, ALLY, VST
Q4 2024	22	$1.7B	FYBR, EXE, TLN, ALLY, VST
Q3 2024	22	$1.6B	FYBR, EXE, TLN, ALLY, VST
Q2 2024	20	$1.2B	FYBR, EXE, ALLY, VST, DBD
Q1 2024	20	$1.2B	FYBR, EXE, ALLY, VST, CHRD