MONARCH ALTERNATIVE CAPITAL LP
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NEW YORK NY
Investment Advisor
Hedge Fund
Activist Investor
Monarch Alternative Capital is based out of New York. Monarch Alternative Capital is a hedge fund with 57 clients and discretionary assets under management (AUM) of $13,881,297,947 (Form ADV from 2024-07-19). Their last reported 13F filing for Q2 2024 included $223,608,676 in managed 13F securities
and a top 10 holdings concentration of 100.0%. Monarch Alternative Capital's largest holding is DISH NETWORK CORPORATION NOTE 12/1 with shares held of 123,812,000. Whalewisdom has at least 73 13F filings, 43 13D filings, 20 13G filings, and 11 Form 4 filings
Business Description
The Adviser provides discretionary investment advisory services to pooled investment vehicles, known as Funds, intended for sophisticated investors such as institutional investors and high net worth individuals. They also provide discretionary and non-discretionary advisory services to private funds established by third parties, referred to as Third Party Funds. The Adviser does not participate in wrap fee programs.
As of December 31, 2023, the Adviser managed approximately $13.079 billion in assets on a net asset value basis, including unfunded and contingent commitments. This includes a proprietary account that does not actively trade its positions and is not expected to participate in new investment opportunities. The Adviser has developed various relationships with third parties, including valuation agents, administrators, lenders, investment bankers, dealers, placement agents, consultants, professional advisors, vendors to portfolio companies, operators of portfolio investments, investors in the Clients, co-investors, and current and former employees of the Adviser. These relationships can potentially raise conflicts of interest.
Investment Strategy
The Adviser utilizes an opportunistic, event driven strategy for managing Clients' portfolios. Each Client's investment targets and limitations are tailored to their specific needs and reflected in their Governing Documents. For example, some Clients prefer a diversified portfolio with an emphasis on senior debt, while others focus on longer-term credit and real estate opportunities. The Adviser also manages Clients exclusively focused on real estate. All Clients share a focus on opportunities with the potential for process control, including those arising from distress, restructuring, or other complexities.
The Adviser may manage Clients with other non-diversified or co-investment strategies in the future, including those focused on a particular market segment or asset class. These strategies may include investments in Third Party Funds and other financial instruments.
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2024-06-30
Top Buys (13F)
| Name | % Change |
|---|---|
| SATS EchoStar Corp. | 5.26% |
| DEBT-DISH DISH NETWORK CORPORA (PRN) | 4.93% |
| DISH Dish Network Corp, C (PRN) | 2.83% |
2024-06-30
Top Sells (13F)
| Name | % Change |
|---|---|
| AVPT AvePoint Inc | 12.88% |
2024-06-30
13F Holdings Summary
| Name | $ Change |
|---|---|
| DEBT-DISH DISH NETWORK CORPORA(PRN) | 41.05% |
| DISH Dish Network Corp, C(PRN) | 20.08% |
| SATS EchoStar Corp. | 14.77% |
| BERY Berry Global Group I | 13.74% |
| DEBT-TPI TPI COMPOSITES INC N(PRN) | 10.37% |
2024-06-30
13F Activity
| Market Value | $224m, Prior: $225m |
| Inflows (Outflows) as % of Total MV | (-4.9537)% |
| New Purchases | 0 stocks |
| Added To | 3 stocks |
| Sold out of | 1 stocks |
| Reduced holdings in | 1 stocks |
| Top 10 Holdings % | 100% |
| Turnover %[1] | 16.67% |
| Turnover Alt %[2] | 10.02% |
| Time Held Top 20 | 3.2 quarters |
| Time Held Top 10 | 3.2 quarters |
| Time Held All | 3.2 quarters |
[1]: Turnover is calculated by taking the # of new holdings (initial purchases) + the # of positions sold out of (not just reduced) divided by the total # of holdings for the quarter.
[2]: Alt Turnover is calculated by taking either the total MV of new purchases or the MV of securities sold, whichever is less, divided by the total MV of the fund.
2024-06-30
13F Sector Allocation Over Time
limited to past 4 quarters. Subscribe to see all available data
2024-06-30
Analysis
Top 20 equal-weighted holdings. Performance numbers calculated through 2024-06-30