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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
+5%
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
$2.01B
AUM Growth
+$405M
Cap. Flow
-$173M
Cap. Flow %
-8.59%
Top 10 Hldgs %
74.69%
Holding
66
New
13
Increased
9
Reduced
10
Closed
13

Top Buys

Rank Stock Value
1
PKD
Parker Drilling Company
PKD
+$64.4M
2
ESV
Ensco Rowan plc
ESV
+$32.5M
3
CCO icon
Clear Channel Outdoor Holdings
CCO
+$15.4M
4
RIG icon
Transocean
RIG
+$12.6M
5
ADNT icon
Adient
ADNT
+$6.85M

Top Sells

Rank Stock Value
1
VST icon
Vistra
VST
+$33.6M
2
RDC
Rowan Companies Plc
RDC
+$24.1M
3
CZR
Caesars Entertainment Corporation
CZR
+$23.9M
4
LNG icon
Cheniere Energy
LNG
+$20.6M
5
THC icon
Tenet Healthcare
THC
+$16M

Sector Composition

Rank Sector Weight
1 Miscellaneous 75.7%
2 Technology 5.82%
3 Energy 4.7%
4 Communication Services 3.28%
5 Utilities 3.19%
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
$499M 24.83%
1,703,700
+199,200
+13% +$57.4M
HYG icon
2
PUT
iShares iBoxx $ High Yield Corporate Bond ETF
HYG
$15.1B
$327M 16.26%
+3,750,000
New +$324M
IWM icon
3
CALL
iShares Russell 2000 ETF
IWM
$76.9B
$152M 7.58%
+980,000
New +$151M
XOP icon
4
PUT
State Street SPDR S&P Oil & Gas Exploration & Production ETF
XOP
$4.19B
$120M 5.97%
1,100,625
-411,875
-27% -$47.5M
GLD icon
5
CALL
SPDR Gold Trust
GLD
$145B
$79.9M 3.98%
600,000
+250,000
+71% +$30.9M
PKD
6
DELISTED
Parker Drilling Company
PKD
$66.6M 3.31%
+3,285,330
New +$64.4M
VST icon
7
Vistra
VST
$47.5B
$64.1M 3.19%
2,831,991
-1,341,229
-32% -$33.6M
CZR
8
CALL
DELISTED
Caesars Entertainment Corporation
CZR
$44.9M 2.23%
+3,800,000
New +$36M
CMLS
9
DELISTED
Cumulus Media Inc. Class A Common Stock
CMLS
$43.9M 2.18%
2,366,939
-2,505
-0.1% -$43.8K
MX icon
10
Magnachip Semiconductor
MX
$102M
$37.9M 1.88%
3,657,935
– –
QQQ icon
11
CALL
Invesco QQQ Trust
QQQ
$474B
$34.5M 1.72%
+185,000
New +$34M
MPC icon
12
Marathon Petroleum
MPC
$115B
$27.4M 1.36%
489,650
– –
GE icon
13
PUT
GE Aerospace
GE
$319B
$26.9M 1.34%
+513,630
New +$25.3M
HWM icon
14
Howmet Aerospace
HWM
$89.6B
$24.2M 1.2%
1,222,500
-46,944
-4% -$792K
ESV
15
DELISTED
Ensco Rowan plc
ESV
$24M 1.19%
+2,809,182
New +$32.5M
ADNT icon
16
Adient
ADNT
$1.42B
$23.1M 1.15%
951,397
+333,097
+54% +$6.85M
XOP icon
17
CALL
State Street SPDR S&P Oil & Gas Exploration & Production ETF
XOP
$4.19B
$20.5M 1.02%
188,000
– –
AA icon
18
Alcoa
AA
$12.3B
$19.7M 0.98%
843,625
– –
XME icon
19
CALL
State Street SPDR S&P Metals & Mining ETF
XME
$4.48B
$17.9M 0.89%
630,000
+126,000
+25% +$3.51M
ATI icon
20
ATI
ATI
$25.4B
$17.6M 0.87%
697,000
+119,500
+21% +$2.91M
CSTM icon
21
Constellium
CSTM
$3.47B
$16M 0.79%
1,589,000
-168,500
-10% -$1.56M
IWM icon
22
PUT
iShares Russell 2000 ETF
IWM
$76.9B
$15.6M 0.77%
100,000
-400,000
-80% -$61.7M
CCO icon
23
Clear Channel Outdoor Holdings
CCO
$1.21B
$14.2M 0.71%
+3,009,020
New +$15.4M
FRTA
24
DELISTED
Forterra, Inc
FRTA
$13.6M 0.68%
2,743,000
+537,000
+24% +$2.61M
CIVI
25
DELISTED
Civitas Resources
CIVI
$12.9M 0.64%
618,204
– –
1
2 3

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Brigade Capital Management's Q2 2019 Portfolio in Review

As of Q2 2019, Brigade Capital Management held 66 positions worth $2.01B, up 25% from $1.61B the previous quarter. Its ten largest holdings account for 75% of the portfolio.

Brigade Capital Management withdrew a net $173M in Q2 2019, closing 13 positions and reducing 10 holdings. Its most notable exit was Rowan Companies Plc, an estimated $24.1M position sold in full.

By sector, the portfolio is most concentrated in Miscellaneous at 76% of assets, up from 67% a quarter earlier, followed by Technology and Energy.

Against the trend, Brigade Capital Management opened a new position in Parker Drilling Company worth $66.6M.

  • Brigade Capital Management's largest Q2 2019 buy was Parker Drilling Company: 3,285,330 shares worth $66.6M.
  • Brigade Capital Management added most to Adient in Q2 2019, an estimated $6.85M increase.
  • Brigade Capital Management's biggest Q2 2019 reduction was Vistra, cutting an estimated $33.6M.
  • Brigade Capital Management fully exited Rowan Companies Plc in Q2 2019, selling an estimated $24.1M.
  • Brigade Capital Management's ten largest holdings make up 75% of its $2.01B portfolio in Q2 2019.
  • Brigade Capital Management opened 13 new positions and closed 13 in Q2 2019.
  • Brigade Capital Management's portfolio value rose 25% quarter-over-quarter to $2.01B.

Based on Brigade Capital Management's 13F filing for Q2 2019, filed 14 Aug 2019.