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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
-0.88%
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
$1.21B
AUM Growth
+$435M
Cap. Flow
+$307M
Cap. Flow %
25.41%
Top 10 Hldgs %
68.78%
Holding
62
New
11
Increased
15
Reduced
6
Closed
9

Top Buys

Rank Stock Value
1
VST icon
Vistra
VST
+$282M
2
BTU icon
Peabody Energy
BTU
+$34.2M
3
HK
Halcon Resources Corporation
HK
+$26.9M
4
UPL
Ultra Petroleum Corp. Common Stock
UPL
+$26.1M
5
CIVI
Civitas Resources
CIVI
+$18.9M

Top Sells

Rank Stock Value
1
FOE
Ferro Corporation
FOE
+$13.7M
2
PNK
Pinnacle Entertainment Inc.
PNK
+$10.2M
3
ONIT
Onity Group
ONIT
+$10.1M
4
LNG icon
Cheniere Energy
LNG
+$10M
5
CNX icon
CNX Resources
CNX
+$9.43M

Sector Composition

Rank Sector Weight
1 Utilities 26.01%
2 Energy 11.96%
3 Technology 4.96%
4 Healthcare 4.08%
5 Industrials 3.43%
Name Market Value Portfolio Weight Shares or Principal Change
in Stake 		Capital Flow
VST icon
1
Vistra
VST
$55.1B
$300M 24.87%
+17,870,105
New +$282M
IWM icon
2
PUT
iShares Russell 2000 ETF
IWM
$80.9B
$219M 18.11%
1,550,700
+650,000
+72% +$90M
SPY icon
3
PUT
State Street SPDR S&P 500 ETF Trust
SPY
$778B
$48.7M 4.04%
201,500
-25,000
-11% -$5.99M
BTU icon
4
Peabody Energy
BTU
$2.78B
$33.8M 2.8%
+1,382,775
New +$34.2M
MX icon
5
Magnachip Semiconductor
MX
$128M
$30.7M 2.54%
3,130,000
– –
UPL
6
DELISTED
Ultra Petroleum Corp. Common Stock
UPL
$25.1M 2.08%
+2,316,351
New +$26.1M
HWM icon
7
Howmet Aerospace
HWM
$116B
$22.4M 1.86%
1,289,656
+28,036
+2% +$571K
HK
8
DELISTED
Halcon Resources Corporation
HK
$22M 1.83%
4,855,000
+4,292,500
+763% +$26.9M
RRC icon
9
Range Resources
RRC
$9.11B
$21.5M 1.79%
930,000
+561,000
+152% +$14.1M
GT icon
10
PUT
Goodyear
GT
$2.07B
$21M 1.74%
600,000
– –
THC icon
11
Tenet Healthcare
THC
$20.1B
$20.2M 1.68%
1,046,525
+211,525
+25% +$3.69M
SEM
12
DELISTED
Select Medical
SEM
$20.1M 1.67%
2,434,085
+151,205
+7% +$1.13M
SEMG
13
DELISTED
SEMGROUP CORPORATION
SEMG
$17.8M 1.48%
661,000
+368,500
+126% +$11.5M
DYN
14
DELISTED
Dynegy, Inc.
DYN
$14.2M 1.18%
1,722,800
+140,206
+9% +$1.06M
COTY icon
15
PUT
Coty
COTY
$2.33B
$14.1M 1.17%
+750,000
New +$13.9M
OCLR
16
DELISTED
Oclaro Inc.
OCLR
$14M 1.16%
1,500,000
+500,000
+50% +$4.53M
NRG icon
17
NRG Energy
NRG
$29.8B
$13.8M 1.14%
800,000
– –
ESI icon
18
Element Solutions
ESI
$9.12B
$13.3M 1.1%
1,050,000
– –
ASCMA
19
DELISTED
Ascent Capital Group, Inc. Series A
ASCMA
$13.2M 1.09%
856,310
+223,310
+35% +$3.1M
VXX
20
CALL
DELISTED
iPath S&P 500 VIX Short-Term Futures ETN due 1/30/2019
VXX
$12.8M 1.06%
+250,000
New +$14.5M
PKD
21
DELISTED
Parker Drilling Company
PKD
$11.9M 0.99%
588,083
+48,000
+9% +$1.08M
SN
22
DELISTED
Sanchez Energy Corporation
SN
$11.7M 0.97%
1,635,000
+1,385,000
+554% +$10.3M
SWN
23
DELISTED
Southwestern Energy Company
SWN
$11.3M 0.94%
1,866,781
+919,281
+97% +$6.35M
CIVI
24
DELISTED
Civitas Resources
CIVI
$10.9M 0.91%
+345,191
New +$18.9M
CSTM icon
25
Constellium
CSTM
$3.96B
$10.3M 0.86%
+1,500,000
New +$9.77M
1
2 3

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OC
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GCM
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DWA
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Brigade Capital Management's Q2 2017 Portfolio in Review

As of Q2 2017, Brigade Capital Management held 62 positions worth $1.21B, up 56% from $772M the previous quarter. Its ten largest holdings account for 69% of the portfolio.

Brigade Capital Management deployed $307M of net new capital in Q2 2017, opening 11 new positions and adding to 15 existing holdings. Its largest new stake was Vistra: 17,870,105 shares worth $300M.

By sector, the portfolio is most concentrated in Utilities at 26% of assets, up from 1.9% a quarter earlier, followed by Energy and Technology.

On the sell side, the largest reduction was Ferro Corporation, an estimated $13.7M trimmed.

  • Brigade Capital Management's largest Q2 2017 buy was Vistra: 17,870,105 shares worth $300M.
  • Brigade Capital Management added most to Halcon Resources Corporation in Q2 2017, an estimated $26.9M increase.
  • Brigade Capital Management's biggest Q2 2017 reduction was Ferro Corporation, cutting an estimated $13.7M.
  • Brigade Capital Management fully exited Pinnacle Entertainment Inc. in Q2 2017, selling an estimated $10.2M.
  • Brigade Capital Management's ten largest holdings make up 69% of its $1.21B portfolio in Q2 2017.
  • Brigade Capital Management opened 11 new positions and closed 9 in Q2 2017.
  • Brigade Capital Management's portfolio value rose 56% quarter-over-quarter to $1.21B.

Based on Brigade Capital Management's 13F filing for Q2 2017, filed 14 Aug 2017.