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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
+13.01%
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
$1.67B
AUM Growth
+$315M
(+23%)
Cap. Flow
-$87.7M
Cap. Flow
% of AUM
-5.26%
Top 10 Holdings %
Top 10 Hldgs %
72.76%
Holding
83
New
12
Increased
5
Reduced
16
Closed
27
Top Buys
| Rank | Stock | Value |
|---|---|---|
| 1 |
Valaris
VAL
|
+$43.2M |
| 2 |
Noble Corp
NE
|
+$8.91M |
| 3 |
FYBR
Frontier Communications
FYBR
|
+$6.58M |
| 4 |
QVCGA
QVC Group Inc Series A
QVCGA
|
+$6.37M |
| 5 |
AVYA
Avaya Holdings Corp. Common Stock
AVYA
|
+$5.65M |
Top Sells
| Rank | Stock | Value |
|---|---|---|
| 1 |
iHeartMedia
IHRT
|
+$38.1M |
| 2 |
Magnachip Semiconductor
MX
|
+$15.8M |
| 3 |
FOE
Ferro Corporation
FOE
|
+$13.2M |
| 4 |
VISN
Vistance Networks Inc
VISN
|
+$13.2M |
| 5 |
EXE
Expand Energy Corp
EXE
|
+$9.1M |
Sector Composition
| Rank | Sector | Weight |
|---|---|---|
| 1 | Energy | 13.36% |
| 2 | Communication Services | 3% |
| 3 | Technology | 2.95% |
| 4 | Utilities | 2.46% |
| 5 | Consumer Staples | 1.34% |
| Name | Market Value | Portfolio Weight | Shares or Principal |
Change in Stake | Capital Flow | |
|---|---|---|---|---|---|---|
1
CALL
SPDR Gold Trust
GLD
$131B
| $258M | 15.49% |
1,560,000
+1,200,000
| +333% | +$204M |
|
2
PUT
iShares Russell 2000 ETF
IWM
$80.9B
| $172M | 10.32% |
+750,000
| New | +$169M |
|
3
PUT
State Street SPDR S&P 500 ETF Trust
SPY
$778B
| $150M | 8.98% |
350,000
-745,000
| -68% | -$311M |
|
4
CALL
iShares iBoxx $ High Yield Corporate Bond ETF
HYG
$16.3B
| $132M | 7.92% |
1,500,000
+300,000
| +25% | +$26.2M |
|
|
5
PUT
iShares iBoxx $ High Yield Corporate Bond ETF
HYG
$16.3B
| $132M | 7.92% |
+1,500,000
| New | +$131M |
|
|
XOG
6
DELISTED
Extraction Oil & Gas, Inc. Common Stock
XOG
| $82.5M | 4.95% |
1,502,811
-159,887
| -10% | -$7.56M |
|
|
EXE
7
Expand Energy Corp
EXE
$21.9B
| $78M | 4.68% |
1,502,282
-182,337
| -11% | -$9.1M |
|
8
PUT
iShares iBoxx $ Investment Grade Corporate Bond ETF
LQD
$34.7B
| $67.2M | 4.03% |
+500,000
| New | +$65.9M |
|
|
9
Valaris
VAL
$5.51B
| $49.8M | 2.99% |
+1,723,652
| New | +$43.2M |
|
10
Clear Channel Outdoor Holdings
CCO
$1.23B
| $29.7M | 1.78% |
11,262,861
-1,429,321
| -11% | -$3.43M |
|
|
11
Magnachip Semiconductor
MX
$128M
| $24.6M | 1.47% |
1,029,953
-642,579
| -38% | -$15.8M |
|
12
CALL
PG&E
PCG
$47.8B
| $19.8M | 1.19% |
1,951,200
| – | – |
|
|
13
PG&E
PCG
$47.8B
| $18.2M | 1.09% |
1,791,456
-160,000
| -8% | -$1.72M |
|
|
VISN
14
Vistance Networks Inc
VISN
$2.66B
| $18M | 1.08% |
845,000
-708,000
| -46% | -$13.2M |
|
15
Albertsons Companies
ACI
$5.4B
| $13.4M | 0.8% |
680,000
-6,000
| -0.9% | -$116K |
|
16
GrafTech
EAF
$194M
| $11.3M | 0.68% |
96,900
+20,900
| +28% | +$2.62M |
|
17
FirstEnergy
FE
$28.9B
| $10.8M | 0.65% |
290,500
| – | – |
|
|
18
Noble Corp
NE
$6.9B
| $9.02M | 0.54% |
+360,864
| New | +$8.91M |
|
19
Turning Point Brands
TPB
$1.47B
| $8.95M | 0.54% |
195,498
-65,000
| -25% | -$3.01M |
|
|
20
iHeartMedia
IHRT
$535M
| $8.94M | 0.54% |
332,000
-1,721,404
| -84% | -$38.1M |
|
21
PUT
AMC Entertainment Holdings
AMC
$2.03B
| $8.62M | 0.52% |
+15,200
| New | +$4.03M |
|
22
NMI Holdings
NMIH
$3.25B
| $7.41M | 0.44% |
329,500
| – | – |
|
23
Vistra
VST
$55.1B
| $7.34M | 0.44% |
395,900
-55,203
| -12% | -$953K |
|
|
FYBR
24
DELISTED
Frontier Communications
FYBR
| $6.9M | 0.41% |
+261,314
| New | +$6.58M |
|
|
QVCGA
25
DELISTED
QVC Group Inc Series A
QVCGA
| $6.49M | 0.39% |
+9,920
| New | +$6.37M |
|
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Brigade Capital Management's Q2 2021 Portfolio in Review
As of Q2 2021, Brigade Capital Management held 83 positions worth $1.67B, up 23% from $1.35B the previous quarter. Its ten largest holdings account for 73% of the portfolio.
Brigade Capital Management withdrew a net $87.7M in Q2 2021, closing 27 positions and reducing 16 holdings. Its most notable exit was Ferro Corporation, an estimated $13.2M position sold in full.
By sector, the portfolio is most concentrated in Energy at 13% of assets, up from 10% a quarter earlier, followed by Communication Services and Technology.
Against the trend, Brigade Capital Management opened a new position in Valaris worth $49.8M.
- Brigade Capital Management's largest Q2 2021 buy was Valaris: 1,723,652 shares worth $49.8M.
- Brigade Capital Management added most to GrafTech in Q2 2021, an estimated $2.62M increase.
- Brigade Capital Management's biggest Q2 2021 reduction was iHeartMedia, cutting an estimated $38.1M.
- Brigade Capital Management fully exited Ferro Corporation in Q2 2021, selling an estimated $13.2M.
- Brigade Capital Management's ten largest holdings make up 73% of its $1.67B portfolio in Q2 2021.
- Brigade Capital Management opened 12 new positions and closed 27 in Q2 2021.
- Brigade Capital Management's portfolio value rose 23% quarter-over-quarter to $1.67B.
Based on Brigade Capital Management's 13F filing for Q2 2021, filed 16 Aug 2021.