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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
+3.46%
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
$874M
AUM Growth
-$342M
(-28%)
Cap. Flow
-$599M
Cap. Flow
% of AUM
-68.54%
Top 10 Holdings %
Top 10 Hldgs %
71.2%
Holding
56
New
7
Increased
8
Reduced
9
Closed
10
Top Buys
| Rank | Stock | Value |
|---|---|---|
| 1 |
CIVI
Civitas Resources
CIVI
|
+$29.8M |
| 2 |
LUCK
Lucky Strike Entertainment
LUCK
|
+$9.88M |
| 3 |
VISN
Vistance Networks Inc
VISN
|
+$3.38M |
| 4 |
VanEck Junior Gold Miners ETF
GDXJ
|
+$2.25M |
| 5 |
Magnachip Semiconductor
MX
|
+$1.93M |
Top Sells
| Rank | Stock | Value |
|---|---|---|
| 1 |
XOG
Extraction Oil & Gas, Inc. Common Stock
XOG
|
+$64.6M |
| 2 |
EXE
Expand Energy Corp
EXE
|
+$25.2M |
| 3 |
FirstEnergy
FE
|
+$7.46M |
| 4 |
PG&E
PCG
|
+$5.52M |
| 5 |
Vistra
VST
|
+$3.55M |
Sector Composition
| Rank | Sector | Weight |
|---|---|---|
| 1 | Energy | 14.14% |
| 2 | Communication Services | 5.67% |
| 3 | Technology | 5.21% |
| 4 | Utilities | 2.12% |
| 5 | Industrials | 2.06% |
| Name | Market Value | Portfolio Weight | Shares or Principal |
Change in Stake | Capital Flow | |
|---|---|---|---|---|---|---|
1
PUT
iShares iBoxx $ Investment Grade Corporate Bond ETF
LQD
$34.7B
| $199M | 22.73% |
+1,500,000
| New | +$199M |
|
2
CALL
iShares Russell 2000 ETF
IWM
$80.9B
| $107M | 12.21% |
+480,000
| New | +$108M |
|
3
Valaris
VAL
$5.51B
| $53.1M | 6.07% |
1,474,522
+6,000
| +0.4% | +$209K |
|
|
EXE
4
Expand Energy Corp
EXE
$21.9B
| $35.5M | 4.06% |
550,168
-397,617
| -42% | -$25.2M |
|
5
Clear Channel Outdoor Holdings
CCO
$1.23B
| $35.2M | 4.03% |
10,644,925
+17,638
| +0.2% | +$54.9K |
|
|
CIVI
6
DELISTED
Civitas Resources
CIVI
| $27.5M | 3.14% |
+560,798
| New | +$29.8M |
|
|
7
Magnachip Semiconductor
MX
$128M
| $27.3M | 3.12% |
1,302,880
+104,332
| +9% | +$1.93M |
|
|
8
CALL
PG&E
PCG
$47.8B
| $23.7M | 2.71% |
1,951,200
| – | – |
|
|
VISN
9
Vistance Networks Inc
VISN
$2.66B
| $14.3M | 1.63% |
1,291,307
+308,000
| +31% | +$3.38M |
|
|
10
PG&E
PCG
$47.8B
| $13.5M | 1.55% |
1,112,890
-471,000
| -30% | -$5.52M |
|
11
GrafTech
EAF
$194M
| $11.5M | 1.31% |
96,900
| – | – |
|
|
LUCK
12
Lucky Strike Entertainment
LUCK
$938M
| $9.02M | 1.03% |
+1,000,000
| New | +$9.88M |
|
|
CLPR
13
Clipper Realty
CLPR
$46.5M
| $8.68M | 0.99% |
874,724
| – | – |
|
|
14
PUT
iShares Russell 2000 ETF
IWM
$80.9B
| $8.23M | 0.94% |
37,000
-330,500
| -90% | -$74.7M |
|
15
iHeartMedia
IHRT
$535M
| $7.76M | 0.89% |
368,767
+20,000
| +6% | +$424K |
|
16
NMI Holdings
NMIH
$3.25B
| $7.2M | 0.82% |
329,500
| – | – |
|
17
Turning Point Brands
TPB
$1.47B
| $6.19M | 0.71% |
163,960
-25,000
| -13% | -$1.01M |
|
18
Noble Corp
NE
$6.9B
| $5.21M | 0.6% |
209,826
+44,000
| +27% | +$1.13M |
|
|
19
Vistra
VST
$55.1B
| $4.98M | 0.57% |
218,900
-177,000
| -45% | -$3.55M |
|
|
TGI
20
DELISTED
Triumph Group
TGI
| $4.45M | 0.51% |
240,000
| – | – |
|
21
Sinclair Inc
SBGI
$974M
| $3.47M | 0.4% |
131,374
-3,626
| -3% | -$96.8K |
|
|
FYBR
22
DELISTED
Frontier Communications
FYBR
| $3.1M | 0.35% |
105,000
-49,811
| -32% | -$1.54M |
|
|
BRSL
23
Brightstar Lottery PLC
BRSL
$1.91B
| $3.04M | 0.35% |
105,000
+50,000
| +91% | +$1.42M |
|
24
PUT
State Street SPDR S&P Homebuilders ETF
XHB
$1.74B
| $2.7M | 0.31% |
+31,500
| New | +$2.52M |
|
|
AVYA
25
DELISTED
Avaya Holdings Corp. Common Stock
AVYA
| $2.67M | 0.31% |
135,000
-95,500
| -41% | -$1.88M |
|
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Brigade Capital Management's Q4 2021 Portfolio in Review
As of Q4 2021, Brigade Capital Management held 56 positions worth $874M, down 28% from $1.22B the previous quarter. Its ten largest holdings account for 71% of the portfolio.
Brigade Capital Management withdrew a net $599M in Q4 2021, closing 10 positions and reducing 9 holdings. Its most notable exit was Extraction Oil & Gas, Inc. Common Stock, an estimated $64.6M position sold in full.
By sector, the portfolio is most concentrated in Energy at 14% of assets, down from 15% a quarter earlier, followed by Communication Services and Technology.
Against the trend, Brigade Capital Management opened a new position in Civitas Resources worth $27.5M.
- Brigade Capital Management's largest Q4 2021 buy was Civitas Resources: 560,798 shares worth $27.5M.
- Brigade Capital Management added most to Vistance Networks Inc in Q4 2021, an estimated $3.38M increase.
- Brigade Capital Management's biggest Q4 2021 reduction was Expand Energy Corp, cutting an estimated $25.2M.
- Brigade Capital Management fully exited Extraction Oil & Gas, Inc. Common Stock in Q4 2021, selling an estimated $64.6M.
- Brigade Capital Management's ten largest holdings make up 71% of its $874M portfolio in Q4 2021.
- Brigade Capital Management opened 7 new positions and closed 10 in Q4 2021.
- Brigade Capital Management's portfolio value fell 28% quarter-over-quarter to $874M.
Based on Brigade Capital Management's 13F filing for Q4 2021, filed 14 Feb 2022.