Glendon Capital Management LP

Portfolio Overview

Glendon Capital Management LP disclosed 25 positions worth $805.2M in its Form 13F-HR for Q1 2026, led by $EXE (EXPAND ENERGY Corp) at 27.5% of the equity portfolio, followed by $VST and $NRG. During the quarter the fund opened 2 new positions and exited 1 — including a new stake in $OCFC and a full exit from $ULCC. The portfolio is most concentrated in Utilities (32.3% of disclosed assets). All figures are sourced directly from Glendon Capital Management LP’s Form 13F-HR filing with the SEC under CIK 1604350.

• 

  EXPAND ENERGY Corp

  $EXE

  83.9#14

  Quality

  $221.6M2,019,894 sh
• 

  Vistra Corp.

  $VST

  62.9#719

  Quality

  $94.6M629,359 sh
• 

  NRG ENERGY, INC.

  $NRG

  59.5#915

  Quality

  $83.7M572,985 sh
• 

  Talen Energy Corp

  $TLN

  66.5

  Quality

  $82.0M257,024 sh
• 

  Ally Financial Inc.

  $ALLY

  69.3

  Quality

  $81.7M2,083,219 sh
• 

  Enact Holdings, Inc.

  $ACT

  47.3

  Quality

  $53.0M1,298,718 sh
• 

  StealthGas Inc.

  $GASS

  —

  Quality

  $43.5M4,739,902 sh
• 

  WESBANCO INC

  $WSBC

  —

  Quality

  $31.4M909,091 sh
• 

  Chord Energy Corp

  $CHRD

  60.8

  Quality

  $26.7M187,840 sh
• 

  Affirm Holdings, Inc.

  $AFRM

  71.7

  Quality

  $23.6M514,100 sh

Company	Quality	Value	Shares
EXPAND ENERGY Corp$EXE	83.9#14	$221.6M	2,019,894
Vistra Corp.$VST	62.9#719	$94.6M	629,359
NRG ENERGY, INC.$NRG	59.5#915	$83.7M	572,985
Talen Energy Corp$TLN	66.5	$82.0M	257,024
Ally Financial Inc.$ALLY	69.3	$81.7M	2,083,219
Enact Holdings, Inc.$ACT	47.3	$53.0M	1,298,718
StealthGas Inc.$GASS	—	$43.5M	4,739,902
WESBANCO INC$WSBC	—	$31.4M	909,091
Chord Energy Corp$CHRD	60.8	$26.7M	187,840
Affirm Holdings, Inc.$AFRM	71.7	$23.6M	514,100

Showing top 10 of 25 holdings.

Full Holdings — Glendon Capital Management LP (Q1 2026)

All 25 disclosed positions from the latest Form 13F-HR, with quarter-over-quarter share changes and 13F Pro quality scores. Sourced from SEC EDGAR.

#	Ticker	Company	Value	Weight	QoQ	Quality
1	$EXE	EXPAND ENERGY Corp	$221.6M	27.5%	+1%	83.9
2	$VST	Vistra Corp.	$94.6M	11.8%	+6%	62.9
3	$NRG	NRG ENERGY, INC.	$83.7M	10.4%	-9%	59.5
4	$TLN	Talen Energy Corp	$82.0M	10.2%	-3%	66.5
5	$ALLY	Ally Financial Inc.	$81.7M	10.2%	+0%	69.3
6	$ACT	Enact Holdings, Inc.	$53.0M	6.6%	+0%	47.3
7	$GASS	StealthGas Inc.	$43.5M	5.4%	+0%	—
8	$WSBC	WESBANCO INC	$31.4M	3.9%	+0%	—
9	$CHRD	Chord Energy Corp	$26.7M	3.3%	-37%	60.8
10	$AFRM	Affirm Holdings, Inc.	$23.6M	2.9%	+23%	71.7
11	$DBD	DIEBOLD NIXDORF, Inc	$16.3M	2.0%	-73%	45.4
12	$BBT	Beacon Financial Corp	$11.4M	1.4%	+0%	46.9
13	$CNK	Cinemark Holdings, Inc.	$7.4M	0.9%	-50%	36
14	$NATL	NCR Atleos Corp	$6.3M	0.8%	+0%	46.3
15	$FPH	Five Point Holdings, LLC	$5.6M	0.7%	+0%	35.3
16	$NCMI	National CineMedia, Inc.	$5.1M	0.6%	+0%	38.3
17	$OCFC	OCEANFIRST FINANCIAL CORP	$5.0M	0.6%	NEW	—
18	$KRC	KILROY REALTY CORP	$2.2M	0.3%	NEW	67.8
19	$COOK	Traeger, Inc.	$1.1M	0.1%	-96%	23.8
20	$AFRM	Affirm Holdings, Inc.	$1.0M	0.1%	+0%	71.7
21	$SVC	Service Properties Trust	$938,129	0.1%	+0%	35.7
22	$SKIN	SkinHealth Systems Inc.	$566,889	0.1%	+0%	32.1
23	$DEC	Diversified Energy Co	$296,637	0.0%	+0%	—
24	$VAL	Valaris Ltd	$64,510	0.0%	+0%	—
25	$EPR	EPR PROPERTIES	$22,610	0.0%	+0%	64