Glendon Capital Management LP — 13F Holdings & Portfolio
CIK 1604350 · latest 13F-HR filed 2026-08-12
Glendon Capital Management LP manages $772.6M in 13F-reported U.S. long-equity assets across 26 reported positions as of its 2026-06-30 13F-HR filing. Its largest disclosed positions are EXE (23.83%), NRG (13.47%), ALLY (12.39%). Quarter over quarter (versus its 2026-03-31 filing) the fund opened 2 new positions and exited 1; 12 existing positions rose in reported value and 8 fell.
AUM is the long-equity portion reported on Form 13F-HR. Excludes short positions, cash, foreign holdings, and non-13F assets. For informational purposes only — not investment advice.
Loading holdings…
AUM
$772.6M
Long-equity book
Holdings
26
Distinct positions
Period
2026-06-30
Filed 2026-08-12
Q/Q Activity
+2 / −1 / ↑12 / ↓8
vs 2026-03-31
Portfolio charts
Latest quarter's book, what changed, and how the portfolio has evolved across filings.
Portfolio map
Q2 26EXE23.8% · 0%NRG13.5% · +24%ALLY12.4% · 0%VST12.0% · -7%ACT7.7% · 0%AFRM5.4% · 0%GASS4.7% · -3%WSBC4.6% · 0%TLN4.0% · -69%CHRD2.8% · 0%DBD2.4% · 0%BBT1.5% · 0%OCFC1.4% · +96%NCMI0.8% · 0%NATL0.8% · 0%FPH0.8% · 0%COOK0.4% · 0%KRC0.4% · 0%CNK0.3% · -75%AFRM0.1% · 0%AZUL0.1% · newSKIN0.1% · 0%DEC0.0% · 0%AMBP0.0% · newVAL0.0% · 0%EPRPC0.0% · 0%
Box size = position value; colour = change in share count vs the prior quarter (green added, red trimmed, blue new). Rows split across managers or share classes are combined. Click a box for the stock.
Sector mix
% of 13F valueSectors from each company's SIC code; funds and ETFs grouped separately.
Biggest buys and sells
Q1 26 → Q2 26Estimated from the change in shares held × the quarter-end price, so price moves alone don't count as buying. New and exited positions are included.
13F assets and positions
4 quartersTotal reported 13F value (bars) and number of positions (line) each quarter. Value changes include market moves.
Top positions over time
reported valueThe eight largest current positions, valued at each quarter end.
Concentration
top 10 = 90.9%Cumulative share of the portfolio held in the largest N positions.
Firm Profile & Key People
As of the firm’s regulatory filing dated Mar 30, 2026.
Assets Under Management
$5.24B
Discretionary
$5.24B
Employees
19
Accounts
4
Address
2425 OLYMPIC BLVD.
SUITE 500E
SANTA MONICA, CA 90404-4070
SUITE 500E
SANTA MONICA, CA 90404-4070
Phone
(310) 907-0450
| Name | Title / Status | Ownership | Type |
|---|---|---|---|
| BERMAN, BRIAN, D Control | LIMITED PARTNER since Apr 2013 | 5–10% | Individual |
| DELANEY, CHRISTOPHER, R Control | LIMITED PARTNER since Oct 2021 | 5–10% | Individual |
| GLENDON CAPITAL MANAGEMENT LLC Control | GENERAL PARTNER since Oct 2012 | Less than 5% | Domestic Entity |
| MAGHAKIAN, HAIG, MARK Control | CHIEF COMPLIANCE OFFICER / CHIEF OPERATING OFFICER since Mar 2020 | Less than 5% | Individual |
| MURRAY, JOSEPH, THOMAS Control | HEAD OF FINANCE AND ACCOUNTING since Feb 2024 | Less than 5% | Individual |
| OLSON, HOLLY, KIM Control | LIMITED PARTNER since Oct 2012 | 25–50% | Individual |
| SAYER, CHRISTOPHER, ROBERT Control | LIMITED PARTNER since Jan 2018 | 10–25% | Individual |
| THAIN, ALEXANDER, LYMAN Control | LIMITED PARTNER since Oct 2021 | 10–25% | Individual |
| BARRETT, MATTHEW, SCOTT | LIMITED PARTNER since Oct 2012 | 5–10% | Individual |
| GLENDON EMPLOYEE COMPANY - M LP | LIMITED PARTNER since Apr 2015 | 5–10% | Domestic Entity |
| BERMAN, BRIAN, D Control Indirect owner via GLENDON CAPITAL MANAGEMENT LLC | PARTNER since Apr 2013 | General partner, trustee or manager | Individual |
| DELANEY, CHRISTOPHER, R Control Indirect owner via GLENDON CAPITAL MANAGEMENT LLC | PARTNER since Oct 2021 | General partner, trustee or manager | Individual |
| OLSON, HOLLY, KIM Control Indirect owner via GLENDON CAPITAL MANAGEMENT LLC | PARTNER since Oct 2012 | 25–50% | Individual |
| SAYER, CHRISTOPHER, ROBERT Control Indirect owner via GLENDON CAPITAL MANAGEMENT LLC | PARTNER since Jan 2018 | General partner, trustee or manager | Individual |
| THAIN, ALEXANDER, LYMAN Control Indirect owner via GLENDON CAPITAL MANAGEMENT LLC | PARTNER since Oct 2021 | General partner, trustee or manager | Individual |
Ownership & leadership changes · 18 filings with changes since Nov 15, 2012
From the firm’s regulatory filings, newest first. Dates are filing dates: a filing that no longer lists someone does not say when they left.
Mar 30, 2026 filing
- ChangedBARRETT, MATTHEW, SCOTT · no longer a control person
Mar 28, 2025 filing
- No longer listedBARRETT, MATTHEW, SCOTT · LIMITED PARTNER · 25–50% · indirect via GLENDON CAPITAL MANAGEMENT LLC · control person · listed since Oct 2012
- ChangedBARRETT, MATTHEW, SCOTT · ownership 25–50% → 5–10%
- ChangedBERMAN, BRIAN, D · indirect via GLENDON CAPITAL MANAGEMENT LLC: title LIMITED PARTNER → PARTNER
- ChangedDELANEY, CHRISTOPHER, R · indirect via GLENDON CAPITAL MANAGEMENT LLC: title LIMITED PARTNER → PARTNER
- ChangedOLSON, HOLLY, KIM · indirect via GLENDON CAPITAL MANAGEMENT LLC: title LIMITED PARTNER → PARTNER; ownership General partner, trustee or manager → 25–50%
- ChangedOLSON, HOLLY, KIM · ownership 10–25% → 25–50%
- ChangedSAYER, CHRISTOPHER, ROBERT · indirect via GLENDON CAPITAL MANAGEMENT LLC: title LIMITED PARTNER → PARTNER
- ChangedTHAIN, ALEXANDER, LYMAN · indirect via GLENDON CAPITAL MANAGEMENT LLC: title LIMITED PARTNER → PARTNER
Mar 27, 2024 filing
- No longer listedELLARD, ALYSSA · CHIEF OPERATING OFFICER · Less than 5% · control person · listed since Sep 2022
- No longer listedNI, SHANG, QIAN · CHIEF FINANCIAL OFFICER · Less than 5% · control person · listed since Sep 2022
- AddedMURRAY, JOSEPH, THOMAS · HEAD OF FINANCE AND ACCOUNTING · Less than 5% · control person
- ChangedMAGHAKIAN, HAIG, MARK · title CHIEF COMPLIANCE OFFICER → CHIEF COMPLIANCE OFFICER / CHIEF OPERATING OFFICER
Nov 3, 2022 filing
- No longer listedDHUPER, SANDEEP, NMN · CHIEF FINANCIAL OFFICER / CHIEF OPERATING OFFICER · Less than 5% · control person · listed since Apr 2020
- AddedELLARD, ALYSSA · CHIEF OPERATING OFFICER · Less than 5% · control person
- AddedNI, SHANG, QIAN · CHIEF FINANCIAL OFFICER · Less than 5% · control person
Mar 31, 2022 filing
- No longer listedKEEGAN, MICHAEL, JOSEPH · LIMITED PARTNER, MANAGING DIRECTOR · 5–10% · control person · listed since May 2016
- No longer listedKEEGAN, MICHAEL, JOSEPH · MANAGING DIRECTOR · General partner, trustee or manager · indirect via GLENDON CAPITAL MANAGEMENT LLC · control person · listed since May 2016
- No longer listedMELAMED, EITAN, JACOB SIMON · LIMITED PARTNER, MANAGING DIRECTOR · 10–25% · control person · listed since Apr 2013
- No longer listedMELAMED, EITAN, JACOB SIMON · MANAGING DIRECTOR · General partner, trustee or manager · indirect via GLENDON CAPITAL MANAGEMENT LLC · control person · listed since Apr 2013
- AddedDELANEY, CHRISTOPHER, R · LIMITED PARTNER · General partner, trustee or manager · indirect via GLENDON CAPITAL MANAGEMENT LLC · control person
- AddedDELANEY, CHRISTOPHER, R · LIMITED PARTNER · 5–10% · control person
- AddedTHAIN, ALEXANDER, LYMAN · LIMITED PARTNER · 10–25% · control person
- AddedTHAIN, ALEXANDER, LYMAN · LIMITED PARTNER · General partner, trustee or manager · indirect via GLENDON CAPITAL MANAGEMENT LLC · control person
- ChangedBARRETT, MATTHEW, SCOTT · title LIMITED PARTNER, MANAGING DIRECTOR → LIMITED PARTNER
- ChangedBARRETT, MATTHEW, SCOTT · indirect via GLENDON CAPITAL MANAGEMENT LLC: title MANAGING DIRECTOR → LIMITED PARTNER
- ChangedBERMAN, BRIAN, D · title LIMITED PARTNER, MANAGING DIRECTOR → LIMITED PARTNER
- ChangedBERMAN, BRIAN, D · indirect via GLENDON CAPITAL MANAGEMENT LLC: title MANAGING DIRECTOR → LIMITED PARTNER
- ChangedDHUPER, SANDEEP, NMN · title CHIEF FINANCIAL OFFICER / HEAD OF OPERATIONS → CHIEF FINANCIAL OFFICER / CHIEF OPERATING OFFICER
- ChangedOLSON, HOLLY, KIM · indirect via GLENDON CAPITAL MANAGEMENT LLC: title MANAGING DIRECTOR → LIMITED PARTNER
- ChangedOLSON, HOLLY, KIM · title LIMITED PARTNER, MANAGING DIRECTOR → LIMITED PARTNER
- ChangedSAYER, CHRISTOPHER, ROBERT · title LIMITED PARTNER, MANAGING DIRECTOR → LIMITED PARTNER; ownership 5–10% → 10–25%
- ChangedSAYER, CHRISTOPHER, ROBERT · indirect via GLENDON CAPITAL MANAGEMENT LLC: title MANAGING DIRECTOR → LIMITED PARTNER
Mar 31, 2021 filing
- ChangedSAYER, CHRISTOPHER, ROBERT · ownership Less than 5% → 5–10%
Dec 2, 2020 filing
- No longer listedPOULTEN, DAVID, JOHN · CHIEF OPERATING OFFICER / CHIEF FINANCIAL OFFICER · Less than 5% · control person · listed since Sep 2013
- AddedDHUPER, SANDEEP, NMN · CHIEF FINANCIAL OFFICER / HEAD OF OPERATIONS · Less than 5% · control person
Mar 30, 2020 filing
- AddedMAGHAKIAN, HAIG, MARK · CHIEF COMPLIANCE OFFICER · Less than 5% · control person
- ChangedKEEGAN, MICHAEL, JOSEPH · title CHIEF COMPLIANCE OFFICER, LIMITED PARTNER, MANAGING DIRECTOR → LIMITED PARTNER, MANAGING DIRECTOR
- ChangedPOULTEN, DAVID, JOHN · title CHIEF OPERATING OFFICER → CHIEF OPERATING OFFICER / CHIEF FINANCIAL OFFICER
Mar 28, 2019 filing
- AddedSAYER, CHRISTOPHER, ROBERT · LIMITED PARTNER, MANAGING DIRECTOR · Less than 5% · control person
- AddedSAYER, CHRISTOPHER, ROBERT · MANAGING DIRECTOR · General partner, trustee or manager · indirect via GLENDON CAPITAL MANAGEMENT LLC · control person
Oct 1, 2018 filing
- No longer listedMONTGOMERY, MICHAEL, CURRY · CHIEF COMPLIANCE OFFICER · Less than 5% · control person · listed since Oct 2012
- ChangedKEEGAN, MICHAEL, JOSEPH · title LIMITED PARTNER, MANAGING DIRECTOR → CHIEF COMPLIANCE OFFICER, LIMITED PARTNER, MANAGING DIRECTOR
Older changes (9 more filings)
Mar 28, 2017 filing
- AddedKEEGAN, MICHAEL, JOSEPH · LIMITED PARTNER, MANAGING DIRECTOR · 5–10% · control person
- AddedKEEGAN, MICHAEL, JOSEPH · MANAGING DIRECTOR · General partner, trustee or manager · indirect via GLENDON CAPITAL MANAGEMENT LLC · control person
Mar 16, 2016 filing
- AddedGLENDON EMPLOYEE COMPANY - M LP · LIMITED PARTNER · 5–10%
- ChangedBARRETT, MATTHEW, SCOTT · ownership 50–75% → 25–50%
- ChangedBARRETT, MATTHEW, SCOTT · indirect via GLENDON CAPITAL MANAGEMENT LLC: ownership 50–75% → 25–50%
- ChangedBERMAN, BRIAN, D · ownership 10–25% → 5–10%
Mar 28, 2014 filing
- Listed againPOULTEN, DAVID, JOHN · CHIEF OPERATING OFFICER · Less than 5% · control person
Jun 11, 2013 filing
- No longer listedBARRETT, MATTHEW, SCOTT · MANAGING DIRECTOR · 50–75% · indirect via CLOVERFIELD CAPITAL MANAGEMENT LLC · control person · listed since Oct 2012
- No longer listedBERMAN, BRIAN, D · MANAGING DIRECTOR · General partner, trustee or manager · indirect via CLOVERFIELD CAPITAL MANAGEMENT LLC · control person · listed since Apr 2013
- No longer listedKIM, HOLLY, HYUNJIN · MANAGING DIRECTOR · General partner, trustee or manager · indirect via CLOVERFIELD CAPITAL MANAGEMENT LLC · control person · listed since Oct 2012
- No longer listedMELAMED, EITAN, JACOB SIMON · MANAGING DIRECTOR · General partner, trustee or manager · indirect via CLOVERFIELD CAPITAL MANAGEMENT LLC · control person · listed since Apr 2013
- AddedBARRETT, MATTHEW, SCOTT · MANAGING DIRECTOR · 50–75% · indirect via GLENDON CAPITAL MANAGEMENT LLC · control person
- AddedBERMAN, BRIAN, D · MANAGING DIRECTOR · General partner, trustee or manager · indirect via GLENDON CAPITAL MANAGEMENT LLC · control person
- AddedMELAMED, EITAN, JACOB SIMON · MANAGING DIRECTOR · General partner, trustee or manager · indirect via GLENDON CAPITAL MANAGEMENT LLC · control person
- AddedOLSON, HOLLY, KIM · MANAGING DIRECTOR · General partner, trustee or manager · indirect via GLENDON CAPITAL MANAGEMENT LLC · control person
- ChangedBARRETT, MATTHEW, SCOTT · ownership Less than 5% → 50–75%
- ChangedBERMAN, BRIAN, D · title MANAGING DIRECTOR → LIMITED PARTNER, MANAGING DIRECTOR; ownership Less than 5% → 10–25%
- ChangedGLENDON CAPITAL MANAGEMENT LLC · ownership 75% or more → Less than 5%
- ChangedMELAMED, EITAN, JACOB SIMON · title MANAGING DIRECTOR → LIMITED PARTNER, MANAGING DIRECTOR; ownership Less than 5% → 10–25%
- ChangedOLSON, HOLLY, KIM · title MANAGING DIRECTOR → LIMITED PARTNER, MANAGING DIRECTOR; ownership Less than 5% → 10–25%
Apr 30, 2013 filing
- No longer listedCLOVERFIELD CAPITAL MANAGEMENT LLC · GENERAL PARTNER · 75% or more · control person · listed since Oct 2012
- AddedGLENDON CAPITAL MANAGEMENT LLC · GENERAL PARTNER · 75% or more · control person
Apr 26, 2013 filing
- No longer listedPOULTEN, DAVID, JOHN · CHIEF OPERATING OFFICER · Less than 5% · control person · listed since Oct 2031
- AddedBERMAN, BRIAN, D · MANAGING DIRECTOR · Less than 5% · control person
- AddedBERMAN, BRIAN, D · MANAGING DIRECTOR · General partner, trustee or manager · indirect via CLOVERFIELD CAPITAL MANAGEMENT LLC · control person
- AddedKIM, HOLLY, HYUNJIN · MANAGING DIRECTOR · General partner, trustee or manager · indirect via CLOVERFIELD CAPITAL MANAGEMENT LLC · control person
- AddedMELAMED, EITAN, JACOB SIMON · MANAGING DIRECTOR · Less than 5% · control person
- AddedMELAMED, EITAN, JACOB SIMON · MANAGING DIRECTOR · General partner, trustee or manager · indirect via CLOVERFIELD CAPITAL MANAGEMENT LLC · control person
- ChangedBARRETT, MATTHEW, SCOTT · indirect via CLOVERFIELD CAPITAL MANAGEMENT LLC: title EQUITY OWNER → MANAGING DIRECTOR; ownership 75% or more → 50–75%
Nov 20, 2012 filing
- ChangedBARRETT, MATTHEW, SCOTT · title MANAGING DIRECTOR → LIMITED PARTNER, MANAGING DIRECTOR
Nov 19, 2012 filing
- ChangedCLOVERFIELD CAPITAL MANAGEMENT LLC · title PARTNER → GENERAL PARTNER
Nov 15, 2012 filing (earliest on record)
- ListedBARRETT, MATTHEW, SCOTT · MANAGING DIRECTOR · Less than 5% · control person
- ListedBARRETT, MATTHEW, SCOTT · EQUITY OWNER · 75% or more · indirect via CLOVERFIELD CAPITAL MANAGEMENT LLC · control person
- ListedCLOVERFIELD CAPITAL MANAGEMENT LLC · PARTNER · 75% or more · control person
- ListedMONTGOMERY, MICHAEL, CURRY · CHIEF COMPLIANCE OFFICER · Less than 5% · control person
- ListedOLSON, HOLLY, KIM · MANAGING DIRECTOR · Less than 5% · control person
- ListedPOULTEN, DAVID, JOHN · CHIEF OPERATING OFFICER · Less than 5% · control person
Quarter-over-quarter changes
Changes in reported position value vs the prior 13F, so price moves count too, not just shares bought or sold.
Top Adds (vs prior quarter)
- NRG ENERGY INC$20.3M +24.3%
- AFFIRM HLDGS INC$18.4M +78.0%
- ALLY FINL INC$14.0M +17.1%
- ENACT HLDGS INC$6.4M +12.0%
- OCEANFIRST FINL CORP$5.6M +112.0%
Top Trims
- TALEN ENERGY CORP-$51.4M -62.6%
- EXPAND ENERGY CORPORATION-$37.5M -16.9%
- STEALTHGAS INC-$7.1M -16.2%
- CINEMARK HLDGS INC-$5.3M -72.2%
- CHORD ENERGY CORPORATION-$5.2M -19.6%
Glendon Capital Management LP Holdings (2026-06-30)
Rows tagged Call or Put are options positions, not stock. Per SEC Form 13F-HR, Value shows the notional value of the underlying (shares covered × underlying price), not the option premium. Shares is the number of underlying shares covered (divide by 100 for contract count).
| # | Issuer | Symbol | CUSIP | Value | Weight | Shares | Type |
|---|---|---|---|---|---|---|---|
| 1 | EXPAND ENERGY CORPORATION | EXE | 165167735 | $184.1M | 23.83% | 2,019,894 | SH |
| 2 | NRG ENERGY INC | NRG | 629377508 | $104.0M | 13.47% | 712,345 | SH |
| 3 | ALLY FINL INC | ALLY | 02005N100 | $95.7M | 12.39% | 2,083,219 | SH |
| 4 | VISTRA CORP | VST | 92840M102 | $93.1M | 12.05% | 586,724 | SH |
| 5 | ENACT HLDGS INC | ACT | 29249E109 | $59.4M | 7.68% | 1,298,718 | SH |
| 6 | AFFIRM HLDGS INC | AFRM | 00827B106 | $41.9M | 5.43% | 514,100 | SH |
| 7 | STEALTHGAS INC | GASS | Y81669106 | $36.4M | 4.72% | 4,613,384 | SH |
| 8 | WESBANCO INC | WSBC | 950810101 | $35.5M | 4.59% | 909,091 | SH |
| 9 | TALEN ENERGY CORP | TLN | 87422Q109 | $30.7M | 3.97% | 79,793 | SH |
| 10 | CHORD ENERGY CORPORATION | CHRD | 674215207 | $21.5M | 2.78% | 187,840 | SH |
| 11 | DIEBOLD NIXDORF INC | DBD | 253651202 | $18.3M | 2.37% | 215,568 | SH |
| 12 | BEACON FINANCIAL CORP. | BBT | 084680107 | $11.6M | 1.50% | 381,184 | SH |
| 13 | OCEANFIRST FINL CORP | OCFC | 675234108 | $10.5M | 1.36% | 539,542 | SH |
| 14 | NATIONAL CINEMEDIA INC | NCMI | 635309206 | $6.4M | 0.83% | 1,678,903 | SH |
| 15 | NCR ATLEOS CORPORATION | NATL | 63001N106 | $6.2M | 0.81% | 143,500 | SH |
| 16 | FIVE POINT HOLDINGS LLC | FPH | 33833Q106 | $6.1M | 0.79% | 1,158,162 | SH |
| 17 | TRAEGER INC | COOK | 89269P202 | $3.0M | 0.39% | 37,960 | SH |
| 18 | KILROY REALTY CORP | KRC | 49427F108 | $3.0M | 0.39% | 79,449 | SH |
| 19 | CINEMARK HLDGS INC | CNK | 17243V102 | $2.1M | 0.27% | 64,891 | SH |
| 20 | AFFIRM HLDGS INC | AFRM | 00827BAB2 | $1.1M | 0.14% | 1,074,000 | PRN |
| 21 | AZUL S A | AZUL | 05501U601 | $1.0M | 0.13% | 113,909 | SH |
| 22 | SKINHEALTH SYSTEMS INC | SKIN | 88331L108 | $441.1K | 0.06% | 636,954 | SH |
| 23 | DIVERSIFIED ENERGY CO | DEC | 25520W107 | $235.7K | 0.03% | 17,009 | SH |
| 24 | ARDAGH METAL PACKAGING S A | AMBP | L02235106 | $226.8K | 0.03% | 47,852 | SH |
| 25 | VALARIS LTD | VAL | G9460G101 | $47.8K | 0.01% | 658 | SH |
| 26 | EPR PPTYS | EPRPC | 26884U208 | $25.6K | 0.00% | 1,000 | SH |
Filing History
| Period | Filed | AUM | Holdings | Accession |
|---|---|---|---|---|
| 2026-06-30 | 2026-08-12 | $772.6M | 26 | 0001604350-26-000023 |
| 2026-03-31 | 2026-05-11 | $805.2M | 25 | 0001604350-26-000013 |
| 2025-12-31 | 2026-02-12 | $1.68B | 25 | 0001604350-26-000008 |
| 2025-09-30 | 2025-11-12 | $1.83B | 24 | 0001604350-25-000032 |
Filer Information
Address
2425 OLYMPIC BLVD, SUITE 500ESANTA MONICA, CA 90404
Phone
(310) 907-0450
Filing Manager
Glendon Capital Management LP
Santa Monica, CA
Signatory
Haig Maghakian
Chief Compliance Officer