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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
+4.46%
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
$1.83B
AUM Growth
+$593M
Cap. Flow
+$369M
Cap. Flow %
20.24%
Top 10 Hldgs %
68.06%
Holding
71
New
10
Increased
19
Reduced
13
Closed
11

Top Buys

Rank Stock Value
1
QQQ icon
Invesco QQQ Trust
QQQ
+$30.5M
2
KND
Kindred Healthcare
KND
+$25.3M
3
ESI icon
Element Solutions
ESI
+$15.1M
4
LNG icon
Cheniere Energy
LNG
+$14.3M
5
AMD icon
Advanced Micro Devices
AMD
+$8.79M

Top Sells

Rank Stock Value
1
VST icon
Vistra
VST
+$77.3M
2
HYG icon
iShares iBoxx $ High Yield Corporate Bond ETF
HYG
+$13.6M
3
ESV
Ensco Rowan plc
ESV
+$10.9M
4
ORIG
Ocean Rig UDW Inc. Class A Common Shares
ORIG
+$8.42M
5
SN
Sanchez Energy Corporation
SN
+$5.82M

Sector Composition

Rank Sector Weight
1 Utilities 15.07%
2 Energy 6.04%
3 Healthcare 3.88%
4 Technology 3.31%
5 Industrials 2.91%
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
$778B
$363M 19.89%
1,360,300
+1,068,300
+366% +$278M
VST icon
2
Vistra
VST
$55.1B
$237M 12.96%
12,916,380
-4,128,076
-24% -$77.3M
IWM icon
3
PUT
iShares Russell 2000 ETF
IWM
$80.9B
$209M 11.45%
1,371,000
+771,000
+129% +$116M
QQQ icon
4
PUT
Invesco QQQ Trust
QQQ
$455B
$125M 6.83%
+800,000
New +$122M
XOP icon
5
PUT
State Street SPDR S&P Oil & Gas Exploration & Production ETF
XOP
$3.42B
$54.3M 2.97%
+365,000
New +$50.9M
NRG icon
6
NRG Energy
NRG
$29.8B
$38.4M 2.1%
1,347,992
+55,257
+4% +$1.5M
KND
7
DELISTED
Kindred Healthcare
KND
$35.5M 1.94%
3,657,306
+3,404,206
+1,345% +$25.3M
HWM icon
8
Howmet Aerospace
HWM
$116B
$34.5M 1.89%
1,652,820
+163,652
+11% +$3.18M
K
9
PUT
DELISTED
Kellanova
K
$34M 1.86%
+532,500
New +$32M
ESI icon
10
Element Solutions
ESI
$9.12B
$31.9M 1.75%
3,212,300
+1,452,500
+83% +$15.1M
QQQ icon
11
Invesco QQQ Trust
QQQ
$455B
$31.2M 1.71%
+200,000
New +$30.5M
MX icon
12
Magnachip Semiconductor
MX
$128M
$31.1M 1.71%
3,130,000
– –
THC icon
13
Tenet Healthcare
THC
$20.1B
$23.9M 1.31%
1,573,200
+223,200
+17% +$3.14M
HK
14
DELISTED
Halcon Resources Corporation
HK
$23.2M 1.27%
3,060,000
-525,000
-15% -$3.6M
SBGI icon
15
Sinclair Inc
SBGI
$974M
$22.7M 1.24%
600,000
+200,000
+50% +$6.62M
BTU.PR
16
DELISTED
Peabody Energy Corporation Series A Convertible Preferred Stock
BTU.PR
– –
0
– –
COTY icon
17
PUT
Coty
COTY
$2.33B
$19.9M 1.09%
1,000,000
+250,000
+33% +$4.27M
UPL
18
DELISTED
Ultra Petroleum Corp. Common Stock
UPL
$19.2M 1.05%
2,116,351
-490,000
-19% -$4.28M
RRC icon
19
Range Resources
RRC
$9.11B
$17.1M 0.93%
1,000,000
– –
LNG icon
20
Cheniere Energy
LNG
$56.5B
$15.9M 0.87%
+295,800
New +$14.3M
FOE
21
DELISTED
Ferro Corporation
FOE
$14.7M 0.81%
625,000
+100,000
+19% +$2.37M
CSTM icon
22
Constellium
CSTM
$3.96B
$13M 0.71%
1,165,000
-227,500
-16% -$2.42M
KR icon
23
Kroger
KR
$34.8B
$12.9M 0.71%
470,000
– –
CIVI
24
DELISTED
Civitas Resources
CIVI
$12.6M 0.69%
458,363
+38,006
+9% +$1.19M
SEM
25
DELISTED
Select Medical
SEM
$11.5M 0.63%
1,206,400
-278,400
-19% -$2.66M
1
2 3

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Brigade Capital Management's Q4 2017 Portfolio in Review

As of Q4 2017, Brigade Capital Management held 71 positions worth $1.83B, up 48% from $1.23B the previous quarter. Its ten largest holdings account for 68% of the portfolio.

Brigade Capital Management deployed $369M of net new capital in Q4 2017, opening 10 new positions and adding to 19 existing holdings. Its largest new stake was Invesco QQQ Trust: 200,000 shares worth $31.2M.

By sector, the portfolio is most concentrated in Utilities at 15% of assets, down from 29% a quarter earlier, followed by Energy and Healthcare.

On the sell side, the largest reduction was Vistra, an estimated $77.3M trimmed.

  • Brigade Capital Management's largest Q4 2017 buy was Invesco QQQ Trust: 200,000 shares worth $31.2M.
  • Brigade Capital Management added most to Kindred Healthcare in Q4 2017, an estimated $25.3M increase.
  • Brigade Capital Management's biggest Q4 2017 reduction was Vistra, cutting an estimated $77.3M.
  • Brigade Capital Management fully exited Ensco Rowan plc in Q4 2017, selling an estimated $10.9M.
  • Brigade Capital Management's ten largest holdings make up 68% of its $1.83B portfolio in Q4 2017.
  • Brigade Capital Management opened 10 new positions and closed 11 in Q4 2017.
  • Brigade Capital Management's portfolio value rose 48% quarter-over-quarter to $1.83B.

Based on Brigade Capital Management's 13F filing for Q4 2017, filed 14 Feb 2018.