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BCM

Brigade Capital Management Portfolio holdings

AUM $534M
1-Year Est. Return 44.37%
This Fund
S&P 500
This Quarter Est. Return
+7.55%
1 Year Est. Return
+44.37%
3 Year Est. Return
+42.69%
5 Year Est. Return
+65.06%
10 Year Est. Return
+332.77%
AUM
$580M
AUM Growth
-$451M
Cap. Flow
-$81.2M
Cap. Flow %
-14%
Top 10 Hldgs %
61.78%
Holding
53
New
18
Increased
9
Reduced
2
Closed
15

Top Buys

Rank Stock Value
1
BYD icon
Boyd Gaming
BYD
+$14.2M
2
ASCMA
Ascent Capital Group, Inc. Series A
ASCMA
+$7.45M
3
OLN icon
Olin
OLN
+$4.87M
4
AXLL
AXIALL CORP COM STK (DE)
AXLL
+$4.04M
5
MRD
MEMORIAL RESOURCE DEV CORP COM STK (DE)
MRD
+$3.55M

Top Sells

Rank Stock Value
1
RAD
Rite Aid Corporation
RAD
+$25.9M
2
NSM
Nationstar Mortgage Holdings
NSM
+$10M
3
OCLR
Oclaro Inc.
OCLR
+$1.9M
4
EGLE
Eagle Bulk Shipping Inc.
EGLE
+$785K
5
KND
Kindred Healthcare
KND
+$259K

Sector Composition

Rank Sector Weight
1 Miscellaneous 64.84%
2 Materials 16.16%
3 Technology 4.89%
4 Consumer Discretionary 4.63%
5 Healthcare 4.15%
Name Market Value Portfolio Weight Shares or Principal Change
in Stake 		Capital Flow
SPY icon
1
PUT
State Street SPDR S&P 500 ETF Trust
SPY
$799B
$62.7M 10.81%
305,000
+300,840
+7,232% +$58.7M
IWM icon
2
PUT
iShares Russell 2000 ETF
IWM
$76.9B
$49.8M 8.58%
450,000
+420,000
+1,400% +$43.5M
FOE
3
DELISTED
Ferro Corporation
FOE
$30.4M 5.24%
2,560,396
+200,000
+8% +$2.01M
ETP
4
CALL
DELISTED
Energy Transfer Partners L.p.
ETP
$28.1M 4.85%
+870,000
New +$24.2M
OEC icon
5
Orion
OEC
$328M
$27.9M 4.82%
1,978,200
+179,072
+10% +$2.25M
AXLL
6
DELISTED
AXIALL CORP COM STK (DE)
AXLL
$27.1M 4.68%
1,241,772
+229,000
+23% +$4.04M
KND
7
DELISTED
Kindred Healthcare
KND
$24.1M 4.15%
1,950,722
-25,000
-1% -$259K
BA icon
8
PUT
Boeing
BA
$166B
$20.3M 3.5%
+160,000
New +$19.9M
BYD icon
9
Boyd Gaming
BYD
$5.53B
$16.5M 2.85%
+800,000
New +$14.2M
RIG icon
10
CALL
Transocean
RIG
$6.63B
$15M 2.58%
+1,636,000
New +$16.3M
ITUB icon
11
PUT
Itaú Unibanco
ITUB
$91B
$14.4M 2.48%
+3,798,302
New +$11.6M
AA icon
12
CALL
Alcoa
AA
$12.3B
$14.4M 2.48%
+624,220
New +$12.7M
OCLR
13
DELISTED
Oclaro Inc.
OCLR
$13.8M 2.37%
2,550,000
-450,000
-15% -$1.9M
RY icon
14
CALL
Royal Bank of Canada
RY
$283B
$11.5M 1.99%
+200,000
New +$10.4M
LNC icon
15
CALL
Lincoln National
LNC
$8.32B
$10.6M 1.83%
+270,000
New +$10.5M
XME icon
16
CALL
State Street SPDR S&P Metals & Mining ETF
XME
$4.48B
$10.2M 1.76%
+500,000
New +$8.08M
MX icon
17
Magnachip Semiconductor
MX
$102M
$10.2M 1.76%
1,875,000
– –
NSM
18
CALL
DELISTED
Nationstar Mortgage Holdings
NSM
$9.4M 1.62%
+950,000
New +$10.1M
ASCMA
19
DELISTED
Ascent Capital Group, Inc. Series A
ASCMA
$8.73M 1.5%
+589,237
New +$7.45M
SBGI icon
20
Sinclair Inc
SBGI
$1.02B
$8.61M 1.48%
280,000
– –
ISLE
21
DELISTED
Isle of Capri Casinos Inc
ISLE
$7M 1.21%
500,000
– –
CNX icon
22
CALL
CNX Resources
CNX
$5.24B
$5.64M 0.97%
+600,000
New +$4.36M
OLN icon
23
Olin
OLN
$1.95B
$5.47M 0.94%
+315,000
New +$4.87M
LNW
24
CALL
DELISTED
Light & Wonder
LNW
$4.71M 0.81%
500,000
+495,000
+9,900% +$3.69M
XLE icon
25
PUT
State Street Energy Select Sector SPDR ETF
XLE
$43.3B
$4.64M 0.8%
+150,000
New +$4.35M
1
2

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SDAM
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Brigade Capital Management's Q1 2016 Portfolio in Review

As of Q1 2016, Brigade Capital Management held 53 positions worth $580M, down 44% from $1.03B the previous quarter. Its ten largest holdings account for 62% of the portfolio.

Brigade Capital Management withdrew a net $81.2M in Q1 2016, closing 15 positions and reducing 2 holdings. Its most notable exit was Rite Aid Corporation, an estimated $25.9M position sold in full.

By sector, the portfolio is most concentrated in Miscellaneous at 65% of assets, down from 83% a quarter earlier, followed by Materials and Technology.

Against the trend, Brigade Capital Management opened a new position in Boyd Gaming worth $16.5M.

  • Brigade Capital Management's largest Q1 2016 buy was Boyd Gaming: 800,000 shares worth $16.5M.
  • Brigade Capital Management added most to AXIALL CORP COM STK (DE) in Q1 2016, an estimated $4.04M increase.
  • Brigade Capital Management's biggest Q1 2016 reduction was Oclaro Inc., cutting an estimated $1.9M.
  • Brigade Capital Management fully exited Rite Aid Corporation in Q1 2016, selling an estimated $25.9M.
  • Brigade Capital Management's ten largest holdings make up 62% of its $580M portfolio in Q1 2016.
  • Brigade Capital Management opened 18 new positions and closed 15 in Q1 2016.
  • Brigade Capital Management's portfolio value fell 44% quarter-over-quarter to $580M.

Based on Brigade Capital Management's 13F filing for Q1 2016, filed 16 May 2016.