Monarch Alternative Capital LP
In its 13F for Q1 2026 (holdings as of March 31, 2026, filed May 15, 2026), Monarch Alternative Capital LP reported 6 stock positions worth $369.1 million. Its top holding was Vistance Networks (VISN) at 50.3% of the portfolio, followed by Echostar Class A (ECHO, 26.3%) and Global Business Travel (GBTG, 11.8%). Compared with Q4 2025, it opened 2 new positions, added to 2 and reduced 2. The biggest buy was Vistance Networks (VISN, shares +4%) and the biggest sale Echostar Class A (ECHO, shares −43%).
- Most Recent 13F
- Q2 2026
- Location
- New York, NY
- CIK
- 0001281084
- Portfolio Value
- $369.1M (Q1 2026)
- SEC Filing
- 0000899140-26-000579 ↗ filed May 15, 2026
Holdings Value
Holdings 6 stocks · $369.1M
| VISN Vistance Networks Inc. | 50.34% | 10,208,303 | $185.8M | Add +4.1% |
| ECHO Echostar Corp. Class A | 26.35% | 830,655 | $97.2M | Reduce -42.5% |
| GBTG Global Business Travel Group | 11.79% | 7,800,000 | $43.5M | Add +9.3% |
| MBC Masterbrand Inc. | 4.50% | 2,000,000 | $16.6M | New |
| BITF Bitfarms Ltd./Canada | 3.78% | 7,150,000 | $13.9M | New |
| AMBP Ardagh Metal Packaging SA | 3.24% | 2,955,738 | $12.0M | Reduce -44.8% |
Options reported separately and not counted above: SPY puts ($523.5M), QQQ puts ($519.5M).
Other holdings (1): bonds, preferreds, convertibles and warrants · $218.9M (not counted above)
| Security | Class | Shares / Principal | Value | Change |
|---|---|---|---|---|
| ECHOSTAR CORP (ECHO 3.875 11/30/30) | NOTE 3.875%11/3 · principal | 60,000,000 | $218.9M | Reduce -43.0% |
Total filed on the 13F, all lines: $588.0M.
Portfolio Sells Q4 2025 → Q1 2026
Portfolio Buys Q4 2025 → Q1 2026
Options Activity Q4 2025 → Q1 2026
| SPY SS SPDR S&P 500 ETF Trust-US | put | New | 805,000 | $523.5M |
| QQQ Invesco QQQ Trust Series 1 | put | New | 900,000 | $519.5M |
Calls and puts are listed by the shares they cover; their value is not part of the stock holdings above.
Notes & Other Activity Q4 2025 → Q1 2026
| ECHOSTAR CORP (ECHO 3.875 11/30/30) | NOTE 3.875%11/3 · principal | Reduce -43.0% | 60,000,000 | $218.9M |
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 | 6 | $516.2M | ECHO, KEEL, CORZ, VISN, MBC |
| Q1 2026 | 6 | $369.1M | VISN, ECHO, GBTG, MBC, BITF |
| Q4 2025 | 4 | $411.5M | VISN, ECHO, GBTG, AMBP |
| Q3 2025Amended | 4 | $420.7M | ECHO, VISN, GBTG, AMBP |
| Q2 2025 | 1 | $82.8M | VISN |
| Q1 2025 | 3 | $189.4M | LTM, ECHO, VISN |
| Q4 2024 | 4 | $478.9M | TLN, LTM, ECHO, VISN |
| Q3 2024 | 4 | $423.8M | TLN, LTM, ECHO, VISN |
| Q2 2024 | 2 | $63.7M | ECHO, BERY |
| Q1 2024 | 3 | $81.9M | BERY, AVPT, ECHO |