Monarch Alternative Capital LP

The fund has adopted a high-conviction, low-diversification strategy, reducing the number of reported holdings to just 4. This results in a highly concentrated portfolio where the top two positions alone constitute 88.73% of the total assets. The lack of broad diversification suggests that Monarch is employing a "best ideas" approach, likely targeting specific turnaround situations, special situations, or undervalued securities where they seek to exert influence or benefit from specific catalysts.

2. Key Holdings

The portfolio is dominated by three primary positions, with EchoStar Corp serving as the anchor holding.