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BCM
Brigade Capital Management Portfolio holdings
AUM
$806M
1-Year Est. Return
20.71%
This Fund
S&P 500
This Quarter
Est. Return
-18.23%
1 Year Est. Return
+20.71%
3 Year Est. Return
+18.45%
5 Year Est. Return
+61.31%
10 Year Est. Return
+315.26%
AUM
$814M
AUM Growth
-$972M
(-54%)
Cap. Flow
-$365M
Cap. Flow
% of AUM
-44.85%
Top 10 Holdings %
Top 10 Hldgs %
56.62%
Holding
65
New
14
Increased
13
Reduced
8
Closed
22
Top Buys
| Rank | Stock | Value |
|---|---|---|
| 1 |
AXLL
AXIALL CORP COM STK (DE)
AXLL
|
+$41.5M |
| 2 |
United Airlines
UAL
|
+$23.4M |
| 3 |
PPG Industries
PPG
|
+$14.2M |
| 4 |
NSM
Nationstar Mortgage Holdings
NSM
|
+$13.3M |
| 5 |
FOE
Ferro Corporation
FOE
|
+$12.2M |
Top Sells
| Rank | Stock | Value |
|---|---|---|
| 1 |
Ally Financial
ALLY
|
+$30.4M |
| 2 |
AGN
Allergan plc
AGN
|
+$27.5M |
| 3 |
Diamondback Energy
FANG
|
+$24.4M |
| 4 |
VER
VEREIT, Inc.
VER
|
+$17.8M |
| 5 |
Golar LNG
GLNG
|
+$15.6M |
Sector Composition
| Rank | Sector | Weight |
|---|---|---|
| 1 | Materials | 10.06% |
| 2 | Consumer Discretionary | 7.59% |
| 3 | Energy | 7.44% |
| 4 | Healthcare | 3.8% |
| 5 | Industrials | 3.06% |
| Name | Market Value | Portfolio Weight | Shares or Principal |
Change in Stake | Capital Flow | |
|---|---|---|---|---|---|---|
51
Graphic Packaging
GPK
$3.17B
| – | – |
-130,078
| Closed | -$1.81M |
|
52
CALL
Packaging Corp of America
PKG
$21.9B
| – | – |
-2,200
| Closed | -$13.7M |
|
53
CALL
State Street SPDR S&P 500 ETF Trust
SPY
$790B
| – | – |
-6,000
| Closed | -$124M |
|
54
PUT
Teck Resources
TECK
$29.6B
| – | – |
-14,000
| Closed | -$13.9M |
|
55
CALL
Wynn Resorts
WYNN
$10.3B
| – | – |
-900
| Closed | -$8.88M |
|
|
56
PUT
Wynn Resorts
WYNN
$10.3B
| – | – |
-1,000
| Closed | -$9.87M |
|
|
X
57
PUT
DELISTED
US Steel
X
| – | – |
-5,500
| Closed | -$11.3M |
|
|
TEN
58
Tsakos Energy Navigation Ltd
TEN
$1.21B
| – | – |
-248,315
| Closed | -$11.8M |
|
|
VER
59
DELISTED
VEREIT, Inc.
VER
| – | – |
-437,000
| Closed | -$17.8M |
|
|
GPOR
60
DELISTED
Gulfport Energy Corp.
GPOR
| – | – |
-350,000
| Closed | -$14.1M |
|
|
AGN
61
DELISTED
Allergan plc
AGN
| – | – |
-90,500
| Closed | -$27.5M |
|
|
KS
62
CALL
DELISTED
KapStone Paper and Pack Corp.
KS
| – | – |
-840
| Closed | -$1.94M |
|
|
TWC
63
CALL
DELISTED
TIME WARNER CABLE INC NEW COM STK
TWC
| – | – |
-275
| Closed | -$4.9M |
|
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Brigade Capital Management's Q3 2015 Portfolio in Review
As of Q3 2015, Brigade Capital Management held 65 positions worth $814M, down 54% from $1.79B the previous quarter. Its ten largest holdings account for 57% of the portfolio.
Brigade Capital Management withdrew a net $365M in Q3 2015, closing 22 positions and reducing 8 holdings. Its most notable exit was Ally Financial, an estimated $30.4M position sold in full.
By sector, the portfolio is most concentrated in Materials at 10% of assets, up from 2.8% a quarter earlier, followed by Consumer Discretionary and Energy.
Against the trend, Brigade Capital Management opened a new position in United Airlines worth $22M.
- Brigade Capital Management's largest Q3 2015 buy was United Airlines: 415,000 shares worth $22M.
- Brigade Capital Management added most to AXIALL CORP COM STK (DE) in Q3 2015, an estimated $41.5M increase.
- Brigade Capital Management's biggest Q3 2015 reduction was Macquarie Infrastructure Holdings, LLC, cutting an estimated $12.5M.
- Brigade Capital Management fully exited Ally Financial in Q3 2015, selling an estimated $30.4M.
- Brigade Capital Management's ten largest holdings make up 57% of its $814M portfolio in Q3 2015.
- Brigade Capital Management opened 14 new positions and closed 22 in Q3 2015.
- Brigade Capital Management's portfolio value fell 54% quarter-over-quarter to $814M.
Based on Brigade Capital Management's 13F filing for Q3 2015, filed 16 Nov 2015.