Monarch Alternative Capital LP

In its 13F for Q4 2024 (holdings as of December 31, 2024, filed February 14, 2025), Monarch Alternative Capital LP reported 4 stock positions worth $478.9 million. Its top holding was Talen Energy (TLN) at 61.0% of the portfolio, followed by Latam Airlines Group SA-ADR (LTM, 22.4%) and Echostar Class A (ECHO, 13.6%). Compared with Q3 2024, it added to 1. The biggest buy was Echostar Class A (ECHO, shares +54%).

Most Recent 13F
Q2 2026
Location
New York, NY
CIK
0001281084
Portfolio Value
$478.9M (Q4 2024)
SEC Filing
0000899140-25-000318 ↗ filed Feb 14, 2025

Holdings Value

0$200.0M$400.0M$600.0M Q1 2024: $81.9M Q1 2024 Q2 2024: $63.7M Q2 2024 Q3 2024: $423.8M Q3 2024 Q4 2024: $478.9M $478.9M Q4 2024 Q1 2025: $189.4M Q1 2025 Q2 2025: $82.8M Q2 2025 Q3 2025: $420.7M Q3 2025 Q4 2025: $411.5M Q4 2025 Q1 2026: $369.1M Q1 2026 Q2 2026: $516.2M Q2 2026

Holdings 4 stocks · $478.9M
TLN Talen Energy Corp. 61.00% 1,450,000 $292.1M No change
LTM Latam Airlines Group SA-ADR 22.39% 3,888,228 $107.2M No change
ECHO Echostar Corp. Class A 13.64% 2,852,573 $65.3M Add +53.9%
VISN Vistance Networks Inc. filed as COMMSCOPE HLDG CO INC 2.96% 2,720,575 $14.2M No change
Other holdings (2): bonds, preferreds, convertibles and warrants · $103.8M (not counted above)
SecurityClassShares / PrincipalValueChange
ECHOSTAR CORP (ECHO 3.875 11/30/30) NOTE 3.875%11/3 · principal 90,347,937$96.0MNew
TPI COMPOSITES INC (TPIC 5.25 03/15/28) NOTE 5.250% 3/1 · principal 30,475,000$7.8MReduce -4.4%

Total filed on the 13F, all lines: $582.6M.

Portfolio Sells Q3 2024 → Q4 2024
None this quarter.

Portfolio Buys Q3 2024 → Q4 2024
ECHO Echostar Corp. Class A Add +53.9% 13.64% +2.78

Notes & Other Activity Q3 2024 → Q4 2024
DISH NETWORK CORP (DISH 0 12/15/25) NOTE 12/1 · principal Sold out 178,812,000 $155.6Mbefore exit
ECHOSTAR CORP (ECHO 3.875 11/30/30) NOTE 3.875%11/3 · principal New 90,347,937 $96.0M
DISH NETWORK CORP (DISH 3.375 08/15/26) NOTE 3.375% 8/1 · principal Sold out 71,810,000 $57.5Mbefore exit
TPI COMPOSITES INC (TPIC 5.25 03/15/28) NOTE 5.250% 3/1 · principal Reduce -4.4% 30,475,000 $7.8M

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

All Filings

QuarterPositions13F Reported ValueTop Holdings
Q2 2026 6$516.2MECHO, KEEL, CORZ, VISN, MBC
Q1 2026 6$369.1MVISN, ECHO, GBTG, MBC, BITF
Q4 2025 4$411.5MVISN, ECHO, GBTG, AMBP
Q3 2025Amended 4$420.7MECHO, VISN, GBTG, AMBP
Q2 2025 1$82.8MVISN
Q1 2025 3$189.4MLTM, ECHO, VISN
Q4 2024 4$478.9MTLN, LTM, ECHO, VISN
Q3 2024 4$423.8MTLN, LTM, ECHO, VISN
Q2 2024 2$63.7MECHO, BERY
Q1 2024 3$81.9MBERY, AVPT, ECHO