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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
+4.69%
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
$2.44B
AUM Growth
+$86M
(+3.6%)
Cap. Flow
-$293M
Cap. Flow
% of AUM
-12.01%
Top 10 Holdings %
Top 10 Hldgs %
86.88%
Holding
63
New
5
Increased
6
Reduced
18
Closed
7
Top Buys
| Rank | Stock | Value |
|---|---|---|
| 1 |
PG&E
PCG
|
+$14.7M |
| 2 |
Edison International
EIX
|
+$2.93M |
| 3 |
FirstEnergy
FE
|
+$2.54M |
| 4 |
Vistra
VST
|
+$1.23M |
| 5 |
Turning Point Brands
TPB
|
+$588K |
Top Sells
| Rank | Stock | Value |
|---|---|---|
| 1 |
Transocean
RIG
|
+$3.39M |
| 2 |
Amplify Energy
AMPY
|
+$2.17M |
| 3 |
FRTA
Forterra, Inc
FRTA
|
+$1.66M |
| 4 |
HCA Healthcare
HCA
|
+$1.62M |
| 5 |
DBD
Diebold Nixdorf Incorporated
DBD
|
+$1.34M |
Sector Composition
| Rank | Sector | Weight |
|---|---|---|
| 1 | Communication Services | 1.75% |
| 2 | Technology | 1.74% |
| 3 | Utilities | 1.63% |
| 4 | Materials | 0.83% |
| 5 | Consumer Discretionary | 0.71% |
| 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
| $708M | 28.97% |
2,114,000
-750,000
| -26% | -$249M |
|
2
CALL
iShares iBoxx $ High Yield Corporate Bond ETF
HYG
$16.3B
| $503M | 20.6% |
+6,000,000
| New | +$505M |
|
3
PUT
iShares Russell 2000 ETF
IWM
$80.9B
| $479M | 19.58% |
3,195,000
-542,500
| -15% | -$81.6M |
|
|
4
PUT
iShares iBoxx $ High Yield Corporate Bond ETF
HYG
$16.3B
| $126M | 5.15% |
+1,500,000
| New | +$126M |
|
5
CALL
SPDR Gold Trust
GLD
$131B
| $63.8M | 2.61% |
360,000
| – | – |
|
6
CALL
iShares Silver Trust
SLV
$28.1B
| $45.4M | 1.86% |
2,100,000
| – | – |
|
7
Magnachip Semiconductor
MX
$128M
| $28.2M | 1.15% |
2,056,806
| – | – |
|
8
iHeartMedia
IHRT
$535M
| $23.2M | 0.95% |
2,861,787
| – | – |
|
|
FOE
9
DELISTED
Ferro Corporation
FOE
| $21.3M | 0.87% |
1,721,000
-40,000
| -2% | -$496K |
|
10
Clear Channel Outdoor Holdings
CCO
$1.23B
| $18.4M | 0.75% |
18,539,488
-449,000
| -2% | -$482K |
|
|
11
PG&E
PCG
$47.8B
| $18.3M | 0.75% |
1,951,456
+1,591,456
| +442% | +$14.7M |
|
|
12
CALL
PG&E
PCG
$47.8B
| $17.9M | 0.73% |
+1,906,000
| New | +$17.7M |
|
|
13
Vistra
VST
$55.1B
| $16.4M | 0.67% |
870,264
+65,329
| +8% | +$1.23M |
|
14
OneMain Financial
OMF
$6.9B
| $14.2M | 0.58% |
455,000
| – | – |
|
15
Adient
ADNT
$1.6B
| $10.9M | 0.45% |
630,000
| – | – |
|
16
Constellium
CSTM
$3.96B
| $10.5M | 0.43% |
1,337,000
-54,000
| -4% | -$446K |
|
|
CMLS
17
DELISTED
Cumulus Media Inc. Class A Common Stock
CMLS
| $10.4M | 0.43% |
1,945,329
| – | – |
|
|
FRTA
18
DELISTED
Forterra, Inc
FRTA
| $9.9M | 0.41% |
838,000
-125,000
| -13% | -$1.66M |
|
|
19
Turning Point Brands
TPB
$1.47B
| $9.05M | 0.37% |
324,798
+20,000
| +7% | +$588K |
|
|
VISN
20
Vistance Networks Inc
VISN
$2.66B
| $8.25M | 0.34% |
917,000
+24,746
| +3% | +$233K |
|
|
TRTX
21
TPG RE Finance Trust
TRTX
$666M
| $7.2M | 0.29% |
851,300
-16,000
| -2% | -$137K |
|
|
CLPR
22
Clipper Realty
CLPR
$46.5M
| $6.49M | 0.27% |
1,072,054
-32
| -0% | -$217 |
|
|
DBD
23
DELISTED
Diebold Nixdorf Incorporated
DBD
| $6.07M | 0.25% |
793,888
-182,112
| -19% | -$1.34M |
|
24
Cheniere Energy
LNG
$56.5B
| $3.29M | 0.13% |
71,100
| – | – |
|
|
25
Edison International
EIX
$30.7B
| $2.8M | 0.11% |
+55,000
| New | +$2.93M |
|
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Brigade Capital Management's Q3 2020 Portfolio in Review
As of Q3 2020, Brigade Capital Management held 63 positions worth $2.44B, up 3.6% from $2.36B the previous quarter. Its ten largest holdings account for 87% of the portfolio.
Brigade Capital Management withdrew a net $293M in Q3 2020, closing 7 positions and reducing 18 holdings. Its most notable exit was Transocean, an estimated $3.39M position sold in full.
By sector, the portfolio is most concentrated in Communication Services at 1.8% of assets, down from 1.9% a quarter earlier, followed by Technology and Utilities.
Against the trend, Brigade Capital Management opened a new position in Edison International worth $2.8M.
- Brigade Capital Management's largest Q3 2020 buy was Edison International: 55,000 shares worth $2.8M.
- Brigade Capital Management added most to PG&E in Q3 2020, an estimated $14.7M increase.
- Brigade Capital Management's biggest Q3 2020 reduction was Amplify Energy, cutting an estimated $2.17M.
- Brigade Capital Management fully exited Transocean in Q3 2020, selling an estimated $3.39M.
- Brigade Capital Management's ten largest holdings make up 87% of its $2.44B portfolio in Q3 2020.
- Brigade Capital Management opened 5 new positions and closed 7 in Q3 2020.
- Brigade Capital Management's portfolio value rose 3.6% quarter-over-quarter to $2.44B.
Based on Brigade Capital Management's 13F filing for Q3 2020, filed 16 Nov 2020.