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Glendon Capital Management LP

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13F filer, CIK 1604350, Santa Monica, CA

Glendon Capital Management LP reported $1,680,389,422 across 25 holdings for the quarter ended 2025-12-31, in a 13F-HR filed 2026-02-12. Its ten largest share positions make up 93.82% of the portfolio.

Filed (acceptance time not in the bulk data set), ingested 13F-HR 0001604350-26-000008

Period
2025-12-31
Reported value
$1.68B
Holdings
25
Top 10 weight
93.82%
New
3
Sold out
2

Largest buys vs the previous quarter

SecurityShares changeApprox. value
CNKnew+519,125$12.1M
BBTadded+208,771$5.51M
EXPAND ENERGY CORPORATIONnew+9,329$930K
DECnew+17,009$246K

Ranked by the share change valued at this quarter's implied price (value over shares in the 13F). A position sold out is valued at the previous quarter's price, its last report.

Largest sells vs the previous quarter

SecurityShares changeApprox. value
FYBRreduced-3,242,180-$123M
DBDreduced-391,032-$26.5M
EXEreduced-123,840-$13.7M
ALLYreduced-255,114-$11.6M
VSTreduced-65,673-$10.6M

Ranked by the share change valued at this quarter's implied price (value over shares in the 13F). A position sold out is valued at the previous quarter's price, its last report.

Holdings, Q4 2025

Share positions as resolved from 13F-HR 0001604350-26-000008, largest first. % of portfolio is the value over $1,680,389,422, the sum of the share positions whose value is usable for ratios (method).

SecurityHistorySharesValue% of portfolioChangeLatest eventTimeline
FYBRFRONTIER COMMUNICATIONS PAREQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 24,215,909 shares; 2024Q4: 24,215,909 shares; 2025Q1: 24,215,909 shares; 2025Q2: 24,215,909 shares; 2025Q3: 24,158,619 shares; 2025Q4: 20,916,439 shares 20,916,439$796M47.39%-3,242,180Timeline
EXEEXPAND ENERGY CORPORATIONQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 2,124,060 shares; 2024Q4: 2,143,739 shares; 2025Q1: 2,132,354 shares; 2025Q2: 2,132,354 shares; 2025Q3: 2,132,354 shares; 2025Q4: 2,008,514 shares 2,008,514$222M13.18%-123,840Timeline
NRGNRG ENERGY INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 535,953 shares; 2024Q4: 535,953 shares; 2025Q1: 535,953 shares; 2025Q2: 596,351 shares; 2025Q3: 630,351 shares; 2025Q4: 630,351 shares 630,351$100M5.97%0Timeline
TLNTALEN ENERGY CORPQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 726,870 shares; 2024Q4: 726,870 shares; 2025Q1: 726,870 shares; 2025Q2: 294,380 shares; 2025Q3: 264,942 shares; 2025Q4: 264,942 shares 264,942$99.3M5.91%0Timeline
VSTVISTRA CORPQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 578,893 shares; 2024Q4: 578,893 shares; 2025Q1: 748,893 shares; 2025Q2: 656,732 shares; 2025Q3: 656,732 shares; 2025Q4: 591,059 shares 591,059$95.4M5.67%-65,673Timeline
ALLYALLY FINL INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 2,485,472 shares; 2024Q4: 2,485,472 shares; 2025Q1: 2,485,472 shares; 2025Q2: 2,485,472 shares; 2025Q3: 2,338,333 shares; 2025Q4: 2,083,219 shares 2,083,219$94.3M5.61%-255,114Timeline
DBDDIEBOLD NIXDORF INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 1,258,050 shares; 2024Q4: 1,318,050 shares; 2025Q1: 1,498,282 shares; 2025Q2: 1,548,740 shares; 2025Q3: 1,178,344 shares; 2025Q4: 787,312 shares 787,312$53.5M3.18%-391,032Timeline
ACTENACT HLDGS INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 1,298,718 shares; 2024Q4: 1,298,718 shares; 2025Q1: 1,298,718 shares; 2025Q2: 1,298,718 shares; 2025Q3: 1,298,718 shares; 2025Q4: 1,298,718 shares 1,298,718$51.5M3.06%0Timeline
GASSSTEALTHGAS INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 5,906,056 shares; 2024Q4: 5,906,056 shares; 2025Q1: 5,906,056 shares; 2025Q2: 5,906,056 shares; 2025Q3: 4,883,048 shares; 2025Q4: 4,739,902 shares 4,739,902$33.3M1.98%-143,146Timeline
AFRMAFFIRM HLDGS INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 336,000 shares; 2024Q4: 336,000 shares; 2025Q1: 417,100 shares; 2025Q2: 417,100 shares; 2025Q3: 417,100 shares; 2025Q4: 417,100 shares 417,100$31M1.85%0Timeline
WSBCWESBANCO INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 909,091 shares; 2024Q4: 769,091 shares; 2025Q1: 769,091 shares; 2025Q2: 909,091 shares; 2025Q3: 909,091 shares; 2025Q4: 909,091 shares 909,091$30.2M1.8%0Timeline
CHRDCHORD ENERGY CORPORATIONQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 240,550 shares; 2024Q4: 240,550 shares; 2025Q1: 240,550 shares; 2025Q2: 297,550 shares; 2025Q3: 297,550 shares; 2025Q4: 297,550 shares 297,550$27.6M1.64%0Timeline
CNKCINEMARK HLDGS INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: not reported; 2024Q4: not reported; 2025Q1: not reported; 2025Q2: not reported; 2025Q3: not reported; 2025Q4: 519,125 shares 519,125$12.1M0.72%newTimeline
BBTBEACON FINANCIAL CORP.Quarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: not reported; 2024Q4: 172,413 shares; 2025Q1: 172,413 shares; 2025Q2: 172,413 shares; 2025Q3: 172,413 shares; 2025Q4: 381,184 shares 381,184$10.1M0.6%+208,771Timeline
NCMINATIONAL CINEMEDIA INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 1,678,903 shares; 2024Q4: 1,678,903 shares; 2025Q1: 1,678,903 shares; 2025Q2: 1,678,903 shares; 2025Q3: 1,678,903 shares; 2025Q4: 1,678,903 shares 1,678,903$6.53M0.39%0Timeline
FPHFIVE POINT HOLDINGS LLCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 1,807,320 shares; 2024Q4: 1,708,375 shares; 2025Q1: 1,658,375 shares; 2025Q2: 1,552,023 shares; 2025Q3: 1,289,375 shares; 2025Q4: 1,158,162 shares 1,158,162$6.47M0.39%-131,213Timeline
NATLNCR ATLEOS CORPORATIONQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 1,000 shares; 2024Q4: 1,000 shares; 2025Q1: 1,000 shares; 2025Q2: 1,000 shares; 2025Q3: 143,500 shares; 2025Q4: 143,500 shares 143,500$5.47M0.33%0Timeline
SVCSERVICE PPTYS TRQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 692,346 shares; 2024Q4: 692,346 shares; 2025Q1: 692,346 shares; 2025Q2: 692,346 shares; 2025Q3: 692,346 shares; 2025Q4: 692,346 shares 692,346$1.27M0.08%0Timeline
COOKTRAEGER INC COMQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 1,165,546 shares; 2024Q4: 1,165,546 shares; 2025Q1: 1,150,546 shares; 2025Q2: 1,150,546 shares; 2025Q3: 1,020,960 shares; 2025Q4: 1,020,960 shares 1,020,960$1.1M0.07%0Timeline
EXPAND ENERGY CORPORATIONEXPAND ENERGY CORPORATIONQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: not reported; 2024Q4: not reported; 2025Q1: not reported; 2025Q2: not reported; 2025Q3: not reported; 2025Q4: 9,329 shares 9,329$930K0.06%new
SKINSKINHEALTH SYSTEMS INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 636,954 shares; 2024Q4: 636,954 shares; 2025Q1: 636,954 shares; 2025Q2: 636,954 shares; 2025Q3: 636,954 shares; 2025Q4: 636,954 shares 636,954$885K0.05%0Timeline
DECDIVERSIFIED ENERGY COQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: not reported; 2024Q4: not reported; 2025Q1: not reported; 2025Q2: not reported; 2025Q3: not reported; 2025Q4: 17,009 shares 17,009$246K0.01%newTimeline
VALVALARIS LTDQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 658 shares; 2024Q4: 658 shares; 2025Q1: 658 shares; 2025Q2: 658 shares; 2025Q3: 658 shares; 2025Q4: 658 shares 658$33.2K<0.01%0Timeline
EPR PPTYSEPR PPTYSQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 1,000 shares; 2024Q4: 1,000 shares; 2025Q1: 1,000 shares; 2025Q2: 1,000 shares; 2025Q3: 1,000 shares; 2025Q4: 1,000 shares 1,000$22.2K<0.01%0

Principal amounts

Notes and convertibles filed as a face amount (PRN). A face amount is never added to a share count (H6).

SecurityTypeAmountValueChange
AFFIRM HLDGS INCAFFIRM HLDGS INC NOTE 11/1principal1,074,000$1.03M0

Sold out in Q4 2025

Positions in the previous quarter's report that this quarter's report no longer lists.

SecurityShares beforeValue beforeType
ONLORION PROPERTIES INC359,563$971Kshares
GOCOGOHEALTH INC42,745$206Kshares

How Q4 2025 was built

Available 13F filings of this filer for the quarter and their roles: the base report is the latest original or restatement, NEW HOLDINGS amendments filed after it are added (method).

FilingRoleAmendmentFiledAcceptedIngested
13F-HR 0001604350-26-000008 base2026-02-12acceptance time not in the bulk data set