Monarch Alternative Capital LP

Portfolio Overview

Monarch Alternative Capital LP disclosed 8 positions worth $707.2M in its Form 13F-HR for Q2 2026 — $703.2M in common stock plus $4.0M of put/call option positions (reported at underlying notional value, not premium at risk), led by $ECHO (EchoStar CORP) at 26.6% of the equity portfolio, followed by $ECHO and $KEEL. During the quarter the fund opened 4 new positions and exited 5 — including a new stake in $KEEL and a full exit from $SPY. The portfolio is most concentrated in Communication Services (50.1% of disclosed assets). All figures are sourced directly from Monarch Alternative Capital LP’s Form 13F-HR filing with the SEC under CIK 1281084.

• 

  EchoStar CORP

  $ECHO

  32.8#2,411

  Quality

  $187.0M60,000,000 sh
• 

  EchoStar CORP

  $ECHO

  32.8#2,411

  Quality

  $165.5M1,630,124 sh
• 

  Keel Infrastructure Corp.

  $KEEL

  17.9#2,818

  Quality

  $150.9M26,285,000 sh
• 

  Core Scientific, Inc./tx

  $CORZ

  14.1

  Quality

  $117.7M4,600,000 sh
• 

  Vistance Networks, Inc.

  $VISN

  33.8

  Quality

  $41.5M3,250,000 sh
• 

  MasterBrand, Inc.

  $MBC

  38.7

  Quality

  $38.1M3,700,000 sh
• 

  SPACE EXPLORATION TECHNOLOGIES CORP

  $SPCX PUT

  —

  Quality

  $4.0M23,500 sh
• 

  FORWARD AIR CORP

  $FWRD

  41.7

  Quality

  $2.6M189,000 sh

Company	Quality	Value	Shares
EchoStar CORP$ECHO	32.8#2,411	$187.0M	60,000,000
EchoStar CORP$ECHO	32.8#2,411	$165.5M	1,630,124
Keel Infrastructure Corp.$KEEL	17.9#2,818	$150.9M	26,285,000
Core Scientific, Inc./tx$CORZ	14.1	$117.7M	4,600,000
Vistance Networks, Inc.$VISN	33.8	$41.5M	3,250,000
MasterBrand, Inc.$MBC	38.7	$38.1M	3,700,000
SPACE EXPLORATION TECHNOLOGIES CORP$SPCXPUT	—	$4.0M	23,500
FORWARD AIR CORP$FWRD	41.7	$2.6M	189,000

Showing top 8 of 8 holdings.

Full Holdings — Monarch Alternative Capital LP (Q2 2026)

All 8 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	$ECHO	EchoStar CORP	$187.0M	26.6%	+0%	32.8
2	$ECHO	EchoStar CORP	$165.5M	23.5%	+96%	32.8
3	$KEEL	Keel Infrastructure Corp.	$150.9M	21.5%	NEW	17.9
4	$CORZ	Core Scientific, Inc./tx	$117.7M	16.7%	NEW	14.1
5	$VISN	Vistance Networks, Inc.	$41.5M	5.9%	-68%	33.8
6	$MBC	MasterBrand, Inc.	$38.1M	5.4%	+85%	38.7
7	$SPCXPUT	SPACE EXPLORATION TECHNOLOGIES CORP	$4.0M	—	NEW	—
8	$FWRD	FORWARD AIR CORP	$2.6M	0.4%	NEW	41.7