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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
+10.28%
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
$1.34B
AUM Growth
-$518M
(-28%)
Cap. Flow
-$810M
Cap. Flow
% of AUM
-60.31%
Top 10 Holdings %
Top 10 Hldgs %
74.93%
Holding
61
New
8
Increased
6
Reduced
17
Closed
8
Top Buys
| Rank | Stock | Value |
|---|---|---|
| 1 |
Turning Point Brands
TPB
|
+$8.17M |
| 2 |
iShares Russell 2000 ETF
IWM
|
+$6.32M |
| 3 |
CLPR
Clipper Realty
CLPR
|
+$5.82M |
| 4 |
Clear Channel Outdoor Holdings
CCO
|
+$4.68M |
| 5 |
FOE
Ferro Corporation
FOE
|
+$2.97M |
Top Sells
| Rank | Stock | Value |
|---|---|---|
| 1 |
Vistra
VST
|
+$38.5M |
| 2 |
Howmet Aerospace
HWM
|
+$26.3M |
| 3 |
Marathon Petroleum
MPC
|
+$17.5M |
| 4 |
Magnachip Semiconductor
MX
|
+$14.3M |
| 5 |
FRTA
Forterra, Inc
FRTA
|
+$12.5M |
Sector Composition
| Rank | Sector | Weight |
|---|---|---|
| 1 | Technology | 7.85% |
| 2 | Communication Services | 5.71% |
| 3 | Energy | 3.73% |
| 4 | Materials | 2.08% |
| 5 | Financials | 1.58% |
| Name | Market Value | Portfolio Weight | Shares or Principal |
Change in Stake | Capital Flow | |
|---|---|---|---|---|---|---|
1
CALL
State Street SPDR S&P 500 ETF Trust
SPY
$778B
| $262M | 19.52% |
815,000
-571,200
| -41% | -$176M |
|
|
2
PUT
State Street SPDR S&P 500 ETF Trust
SPY
$778B
| $250M | 18.59% |
776,000
-739,000
| -49% | -$228M |
|
3
CALL
SPDR Gold Trust
GLD
$131B
| $85.7M | 6.38% |
600,000
| – | – |
|
4
PUT
Invesco QQQ Trust
QQQ
$455B
| $76.5M | 5.7% |
+360,000
| New | +$72.1M |
|
|
PKD
5
DELISTED
Parker Drilling Company
PKD
| $69.6M | 5.18% |
3,105,357
-179,973
| -5% | -$3.48M |
|
6
iHeartMedia
IHRT
$535M
| $46.7M | 3.48% |
2,762,729
-31,825
| -1% | -$482K |
|
|
CMLS
7
DELISTED
Cumulus Media Inc. Class A Common Stock
CMLS
| $34.2M | 2.54% |
1,945,329
-421,610
| -18% | -$6.46M |
|
8
CALL
PG&E
PCG
$47.8B
| $32.6M | 2.43% |
3,000,000
| – | – |
|
|
9
Magnachip Semiconductor
MX
$128M
| $28.2M | 2.1% |
2,426,880
-1,217,555
| -33% | -$14.3M |
|
10
Amplify Energy
AMPY
$163M
| $26.4M | 1.97% |
4,001,430
-545,264
| -12% | -$3.51M |
|
|
11
Clear Channel Outdoor Holdings
CCO
$1.23B
| $22.5M | 1.67% |
7,862,931
+1,847,864
| +31% | +$4.68M |
|
12
PUT
LCI Industries
LCII
$2.51B
| $18.9M | 1.4% |
+176,000
| New | +$17.8M |
|
13
Adient
ADNT
$1.6B
| $16.8M | 1.25% |
788,776
-156,500
| -17% | -$3.47M |
|
|
14
Vistra
VST
$55.1B
| $16.6M | 1.24% |
723,587
-1,492,681
| -67% | -$38.5M |
|
|
FOE
15
DELISTED
Ferro Corporation
FOE
| $16.4M | 1.22% |
1,106,000
+230,500
| +26% | +$2.97M |
|
|
FRTA
16
DELISTED
Forterra, Inc
FRTA
| $16M | 1.19% |
1,381,463
-1,288,625
| -48% | -$12.5M |
|
17
Assured Guaranty
AGO
$3.78B
| $13.9M | 1.04% |
284,200
| – | – |
|
18
Constellium
CSTM
$3.96B
| $11.7M | 0.87% |
875,461
-74,362
| -8% | -$1.03M |
|
19
Transocean
RIG
$5.92B
| $11.7M | 0.87% |
1,700,014
+5,464
| +0.3% | +$28.2K |
|
|
GCVRZ
20
DELISTED
Sanofi Contingent Value Rights
GCVRZ
| $11M | 0.82% |
12,765,651
+497,026
| +4% | +$382K |
|
21
CALL
Autoliv
ALV
$8.6B
| $11M | 0.82% |
+130,000
| New | +$10.6M |
|
|
22
Turning Point Brands
TPB
$1.47B
| $9.32M | 0.69% |
+326,000
| New | +$8.17M |
|
23
Urban One Class D
UONEK
$22.9M
| $7.49M | 0.56% |
394,322
| – | – |
|
24
DigitalBridge
DBRG
$2.94B
| $7.36M | 0.55% |
387,250
+66,500
| +21% | +$1.37M |
|
|
DBD
25
DELISTED
Diebold Nixdorf Incorporated
DBD
| $7.19M | 0.54% |
681,000
-57,000
| -8% | -$506K |
|
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Brigade Capital Management's Q4 2019 Portfolio in Review
As of Q4 2019, Brigade Capital Management held 61 positions worth $1.34B, down 28% from $1.86B the previous quarter. Its ten largest holdings account for 75% of the portfolio.
Brigade Capital Management withdrew a net $810M in Q4 2019, closing 8 positions and reducing 17 holdings. Its most notable exit was Marathon Petroleum, an estimated $17.5M position sold in full.
By sector, the portfolio is most concentrated in Technology at 7.9% of assets, up from 5.8% a quarter earlier, followed by Communication Services and Energy.
Against the trend, Brigade Capital Management opened a new position in Turning Point Brands worth $9.32M.
- Brigade Capital Management's largest Q4 2019 buy was Turning Point Brands: 326,000 shares worth $9.32M.
- Brigade Capital Management added most to Clear Channel Outdoor Holdings in Q4 2019, an estimated $4.68M increase.
- Brigade Capital Management's biggest Q4 2019 reduction was Vistra, cutting an estimated $38.5M.
- Brigade Capital Management fully exited Marathon Petroleum in Q4 2019, selling an estimated $17.5M.
- Brigade Capital Management's ten largest holdings make up 75% of its $1.34B portfolio in Q4 2019.
- Brigade Capital Management opened 8 new positions and closed 8 in Q4 2019.
- Brigade Capital Management's portfolio value fell 28% quarter-over-quarter to $1.34B.
Based on Brigade Capital Management's 13F filing for Q4 2019, filed 14 Feb 2020.