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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
+4.09%
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
$1.71B
AUM Growth
+$210M
Cap. Flow
-$191M
Cap. Flow %
-11.14%
Top 10 Hldgs %
66.27%
Holding
68
New
15
Increased
12
Reduced
14
Closed
9

Top Buys

Rank Stock Value
1
CMLS
Cumulus Media Inc. Class A Common Stock
CMLS
+$38.9M
2
AA icon
Alcoa
AA
+$28.8M
3
MPC icon
Marathon Petroleum
MPC
+$10.4M
4
RDC
Rowan Companies Plc
RDC
+$9.13M
5
RRD
RR Donnelley & Sons Co.
RRD
+$8.09M

Top Sells

Rank Stock Value
1
KND
Kindred Healthcare
KND
+$62M
2
ESI icon
Element Solutions
ESI
+$36.5M
3
SBGI icon
Sinclair Inc
SBGI
+$12M
4
OCLR
Oclaro Inc.
OCLR
+$8.88M
5
DELL icon
Dell
DELL
+$5.43M

Sector Composition

Rank Sector Weight
1 Miscellaneous 58.53%
2 Energy 11.19%
3 Utilities 10.34%
4 Technology 4.3%
5 Materials 4.27%
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
$825B
$442M 25.81%
1,520,000
-100,000
-6% -$28.5M
VST icon
2
Vistra
VST
$46B
$132M 7.73%
5,321,125
-114,865
-2% -$2.64M
XOP icon
3
PUT
State Street SPDR S&P Oil & Gas Exploration & Production ETF
XOP
$3.78B
$130M 7.59%
+750,000
New +$126M
XME icon
4
PUT
State Street SPDR S&P Metals & Mining ETF
XME
$4.74B
$102M 5.99%
+3,000,000
New +$105M
QQQ icon
5
PUT
Invesco QQQ Trust
QQQ
$489B
$84.8M 4.95%
+456,300
New +$82.5M
NRG icon
6
NRG Energy
NRG
$23.4B
$44.7M 2.61%
1,194,536
-113,500
-9% -$3.81M
HWM icon
7
Howmet Aerospace
HWM
$106B
$39.3M 2.29%
2,325,684
-182,430
-7% -$2.9M
CMLS
8
DELISTED
Cumulus Media Inc. Class A Common Stock
CMLS
$36.2M 2.11%
+2,126,359
New +$38.9M
DELL icon
9
Dell
DELL
$295B
$34.8M 2.03%
1,276,352
-203,578
-14% -$5.43M
MPC icon
10
Marathon Petroleum
MPC
$104B
$31.3M 1.83%
391,650
+131,650
+51% +$10.4M
MX icon
11
Magnachip Semiconductor
MX
$115M
$30.7M 1.79%
3,096,935
+141,229
+5% +$1.55M
KR icon
12
CALL
Kroger
KR
$35.4B
$29.1M 1.7%
1,000,000
– –
AA icon
13
Alcoa
AA
$13.3B
$26.8M 1.56%
+662,600
New +$28.8M
TSLA icon
14
PUT
Tesla
TSLA
$1.38T
$26.5M 1.55%
1,500,000
+1,305,000
+669% +$27.2M
LNG icon
15
Cheniere Energy
LNG
$58.3B
$25.6M 1.5%
368,800
– –
BTU icon
16
Peabody Energy
BTU
$3.53B
$24.9M 1.45%
698,799
– –
HK
17
DELISTED
Halcon Resources Corporation
HK
$22.4M 1.31%
5,019,470
+555,000
+12% +$2.33M
RDC
18
DELISTED
Rowan Companies Plc
RDC
$21.3M 1.25%
1,133,320
+609,320
+116% +$9.13M
THC icon
19
Tenet Healthcare
THC
$21.5B
$17.3M 1.01%
606,300
– –
TRGP icon
20
Targa Resources
TRGP
$61.7B
$16.9M 0.99%
300,047
– –
RRC icon
21
Range Resources
RRC
$9.69B
$14.9M 0.87%
877,500
+30,000
+4% +$482K
CIVI
22
DELISTED
Civitas Resources
CIVI
$14.6M 0.86%
491,514
-31,457
-6% -$1.05M
CSTM icon
23
Constellium
CSTM
$3.66B
$14.2M 0.83%
1,148,500
– –
ATI icon
24
ATI
ATI
$28.7B
$14M 0.82%
472,500
+10,000
+2% +$269K
LBY
25
DELISTED
Libbey, Inc.
LBY
$13.2M 0.77%
1,511,296
-90,000
-6% -$826K
1
2 3

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S
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Brigade Capital Management's Q3 2018 Portfolio in Review

As of Q3 2018, Brigade Capital Management held 68 positions worth $1.71B, up 14% from $1.5B the previous quarter. Its ten largest holdings account for 66% of the portfolio.

Brigade Capital Management withdrew a net $191M in Q3 2018, closing 9 positions and reducing 14 holdings. Its most notable exit was Kindred Healthcare, an estimated $62M position sold in full.

By sector, the portfolio is most concentrated in Miscellaneous at 59% of assets, up from 53% a quarter earlier, followed by Energy and Utilities.

Against the trend, Brigade Capital Management opened a new position in Cumulus Media Inc. Class A Common Stock worth $36.2M.

  • Brigade Capital Management's largest Q3 2018 buy was Cumulus Media Inc. Class A Common Stock: 2,126,359 shares worth $36.2M.
  • Brigade Capital Management added most to Marathon Petroleum in Q3 2018, an estimated $10.4M increase.
  • Brigade Capital Management's biggest Q3 2018 reduction was Element Solutions, cutting an estimated $36.5M.
  • Brigade Capital Management fully exited Kindred Healthcare in Q3 2018, selling an estimated $62M.
  • Brigade Capital Management's ten largest holdings make up 66% of its $1.71B portfolio in Q3 2018.
  • Brigade Capital Management opened 15 new positions and closed 9 in Q3 2018.
  • Brigade Capital Management's portfolio value rose 14% quarter-over-quarter to $1.71B.

Based on Brigade Capital Management's 13F filing for Q3 2018, filed 14 Nov 2018.