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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
+19.29%
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
$1.61B
AUM Growth
-$1.38B
(-46%)
Cap. Flow
-$1.7B
Cap. Flow
% of AUM
-105.78%
Top 10 Holdings %
Top 10 Hldgs %
70.96%
Holding
79
New
8
Increased
11
Reduced
16
Closed
26
Top Buys
| Rank | Stock | Value |
|---|---|---|
| 1 |
CZR
Caesars Entertainment Corporation
CZR
|
+$21.9M |
| 2 |
Marathon Petroleum
MPC
|
+$13.2M |
| 3 |
Adient
ADNT
|
+$9.23M |
| 4 |
Howmet Aerospace
HWM
|
+$9.19M |
| 5 |
Alcoa
AA
|
+$1.72M |
Top Sells
| Rank | Stock | Value |
|---|---|---|
| 1 |
NRG Energy
NRG
|
+$24M |
| 2 |
BERY
Berry Global Group, Inc.
BERY
|
+$12.8M |
| 3 |
Advanced Micro Devices
AMD
|
+$11.9M |
| 4 |
State Street SPDR S&P 500 ETF Trust
SPY
|
+$11.4M |
| 5 |
Range Resources
RRC
|
+$8.49M |
Sector Composition
| Rank | Sector | Weight |
|---|---|---|
| 1 | Energy | 7.98% |
| 2 | Utilities | 6.77% |
| 3 | Technology | 3.14% |
| 4 | Materials | 2.95% |
| 5 | Industrials | 2.38% |
| Name | Market Value | Portfolio Weight | Shares or Principal |
Change in Stake | Capital Flow | |
|---|---|---|---|---|---|---|
|
1
PUT
State Street SPDR S&P 500 ETF Trust
SPY
$778B
| $425M | 26.47% |
1,504,500
+729,500
| +94% | +$198M |
|
2
PUT
State Street SPDR S&P Oil & Gas Exploration & Production ETF
XOP
$3.42B
| $186M | 11.58% |
1,512,500
-672,500
| -31% | -$80.9M |
|
|
3
CALL
State Street SPDR S&P 500 ETF Trust
SPY
$778B
| $113M | 7.04% |
400,000
-350,000
| -47% | -$95.1M |
|
4
Vistra
VST
$55.1B
| $109M | 6.77% |
4,173,220
-252,906
| -6% | -$6.38M |
|
5
PUT
iShares Russell 2000 ETF
IWM
$80.9B
| $76.5M | 4.77% |
500,000
-1,000,000
| -67% | -$150M |
|
6
CALL
SPDR Gold Trust
GLD
$131B
| $42.7M | 2.66% |
350,000
| – | – |
|
|
CMLS
7
DELISTED
Cumulus Media Inc. Class A Common Stock
CMLS
| $42.7M | 2.66% |
2,369,444
+72,085
| +3% | +$1.11M |
|
|
8
Marathon Petroleum
MPC
$90.3B
| $29.3M | 1.83% |
489,650
+209,650
| +75% | +$13.2M |
|
9
Magnachip Semiconductor
MX
$128M
| $27.1M | 1.69% |
3,657,935
+30,000
| +0.8% | +$213K |
|
|
RDC
10
DELISTED
Rowan Companies Plc
RDC
| $24.1M | 1.5% |
2,234,041
+49,900
| +2% | +$581K |
|
11
Peabody Energy
BTU
$2.78B
| $23.8M | 1.48% |
840,574
| – | – |
|
|
12
Alcoa
AA
$11.7B
| $23.8M | 1.48% |
843,625
+60,000
| +8% | +$1.72M |
|
13
CALL
GE Aerospace
GE
$367B
| $23.2M | 1.45% |
+466,480
| New | +$22M |
|
|
14
CALL
State Street SPDR S&P Oil & Gas Exploration & Production ETF
XOP
$3.42B
| $23.1M | 1.44% |
+188,000
| New | +$22.6M |
|
15
Cheniere Energy
LNG
$56.5B
| $22.5M | 1.4% |
328,500
-45,800
| -12% | -$3.01M |
|
|
CZR
16
DELISTED
Caesars Entertainment Corporation
CZR
| $21.9M | 1.36% |
+2,521,580
| New | +$21.9M |
|
|
17
Howmet Aerospace
HWM
$116B
| $18.6M | 1.16% |
1,269,444
+641,568
| +102% | +$9.19M |
|
18
CALL
LCI Industries
LCII
$2.51B
| $16.1M | 1% |
+209,800
| New | +$16.6M |
|
19
Tenet Healthcare
THC
$20.1B
| $16M | 1% |
555,000
-281,600
| -34% | -$6.95M |
|
20
Sinclair Inc
SBGI
$974M
| $15.6M | 0.97% |
406,000
-104,350
| -20% | -$3.49M |
|
21
Dell
DELL
$283B
| $15M | 0.93% |
504,561
+58,302
| +13% | +$1.54M |
|
22
CALL
State Street SPDR S&P Metals & Mining ETF
XME
$4.05B
| $15M | 0.93% |
+504,000
| New | +$14.9M |
|
23
ATI
ATI
$27B
| $14.8M | 0.92% |
577,500
| – | – |
|
|
CIVI
24
DELISTED
Civitas Resources
CIVI
| $14M | 0.87% |
618,204
| – | – |
|
25
Constellium
CSTM
$3.96B
| $14M | 0.87% |
1,757,500
+86,000
| +5% | +$735K |
|
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Brigade Capital Management's Q1 2019 Portfolio in Review
As of Q1 2019, Brigade Capital Management held 79 positions worth $1.61B, down 46% from $2.98B the previous quarter. Its ten largest holdings account for 71% of the portfolio.
Brigade Capital Management withdrew a net $1.7B in Q1 2019, closing 26 positions and reducing 16 holdings. Its most notable exit was NRG Energy, an estimated $24M position sold in full.
By sector, the portfolio is most concentrated in Energy at 8% of assets, up from 4.7% a quarter earlier, followed by Utilities and Technology.
Against the trend, Brigade Capital Management opened a new position in Caesars Entertainment Corporation worth $21.9M.
- Brigade Capital Management's largest Q1 2019 buy was Caesars Entertainment Corporation: 2,521,580 shares worth $21.9M.
- Brigade Capital Management added most to Marathon Petroleum in Q1 2019, an estimated $13.2M increase.
- Brigade Capital Management's biggest Q1 2019 reduction was Element Solutions, cutting an estimated $8.27M.
- Brigade Capital Management fully exited NRG Energy in Q1 2019, selling an estimated $24M.
- Brigade Capital Management's ten largest holdings make up 71% of its $1.61B portfolio in Q1 2019.
- Brigade Capital Management opened 8 new positions and closed 26 in Q1 2019.
- Brigade Capital Management's portfolio value fell 46% quarter-over-quarter to $1.61B.
Based on Brigade Capital Management's 13F filing for Q1 2019, filed 15 May 2019.