Monarch Alternative Capital LP

In its 13F for Q2 2025 (holdings as of June 30, 2025, filed August 14, 2025), Monarch Alternative Capital LP reported 1 stock position worth $82.8 million. Its top holding was Vistance Networks (VISN) at 100.0% of the portfolio. Compared with Q1 2025, it sold out of 2 and added to 1. The biggest buy was Vistance Networks (VISN, shares +135%) and the biggest sale an exit from Latam Airlines Group SA-ADR (LTM).

Most Recent 13F
Q2 2026
Location
New York, NY
CIK
0001281084
Portfolio Value
$82.8M (Q2 2025)
SEC Filing
0000899140-25-000987 ↗ filed Aug 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 Q4 2024 Q1 2025: $189.4M Q1 2025 Q2 2025: $82.8M $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 1 stocks · $82.8M
VISN Vistance Networks Inc. filed as COMMSCOPE HLDG CO INC 100.00% 10,000,000 $82.8M Add +135.0%
Other holdings (2): bonds, preferreds, convertibles and warrants · $132.0M (not counted above)
SecurityClassShares / PrincipalValueChange
ECHOSTAR CORP (ECHO 3.875 11/30/30) NOTE 3.875%11/3 · principal 110,325,538$129.5MAdd +22.1%
TPI COMPOSITES INC (TPIC 5.25 03/15/28) NOTE 5.250% 3/1 · principal 36,475,000$2.5MAdd +28.1%

Total filed on the 13F, all lines: $214.8M.

Portfolio Sells Q1 2025 → Q2 2025
LTM Latam Airlines Group SA-ADR Sold out 0.00% −49.55
ECHO Echostar Corp. Class A Sold out 0.00% −38.53

Portfolio Buys Q1 2025 → Q2 2025
VISN Vistance Networks Inc. Add +135.0% 100.00% +88.07

Options Activity Q1 2025 → Q2 2025
SPY SS SPDR S&P 500 ETF Trust-US put Sold out 1,575,000 $881.0Mbefore exit
QQQ Invesco QQQ Trust Series 1 put Sold out 265,000 $124.3Mbefore exit

Calls and puts are listed by the shares they cover; their value is not part of the stock holdings above.

Notes & Other Activity Q1 2025 → Q2 2025
ECHOSTAR CORP (ECHO 3.875 11/30/30) NOTE 3.875%11/3 · principal Add +22.1% 110,325,538 $129.5M
TPI COMPOSITES INC (TPIC 5.25 03/15/28) NOTE 5.250% 3/1 · principal Add +28.1% 36,475,000 $2.5M

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