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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
+10.97%
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
$331M
AUM Growth
-$484M
Cap. Flow
-$99.5M
Cap. Flow %
-30.06%
Top 10 Hldgs %
88.42%
Holding
25
New
3
Increased
1
Reduced
8
Closed
5

Top Buys

Rank Stock Value
1
NOMD icon
Nomad Foods
NOMD
+$10.7M
2
FOA icon
Finance of America Companies
FOA
+$569K

Top Sells

Rank Stock Value
1
LNTH icon
Lantheus
LNTH
+$11M
2
LUMN icon
Lumen
LUMN
+$8.64M
3
NCLH icon
Norwegian Cruise Line
NCLH
+$8.56M
4
FWRD icon
Forward Air
FWRD
+$3.23M
5
NBR icon
Nabors Industries
NBR
+$3.17M

Sector Composition

Rank Sector Weight
1 Miscellaneous 71.94%
2 Energy 13.66%
3 Communication Services 4.34%
4 Consumer Staples 3.31%
5 Healthcare 2.57%
Name Market Value Portfolio Weight Shares or Principal Change
in Stake 		Capital Flow
GLD icon
1
CALL
SPDR Gold Trust
GLD
$148B
$79.3M 23.94%
200,000
-250,000
-56% -$95.5M
NBR icon
2
Nabors Industries
NBR
$1.41B
$36.7M 11.09%
675,879
-65,096
-9% -$3.17M
SPY icon
3
PUT
State Street SPDR S&P 500 ETF Trust
SPY
$811B
$30.8M 9.31%
+45,200
New +$30.5M
ORCL icon
4
PUT
Oracle
ORCL
$466B
$27.3M 8.24%
+140,000
New +$33.3M
IWM icon
5
PUT
iShares Russell 2000 ETF
IWM
$80.3B
$17M 5.13%
69,000
-331,000
-83% -$81.4M
LUMN icon
6
Lumen
LUMN
$6.92B
$14.4M 4.34%
1,850,000
-1,050,000
-36% -$8.64M
NOMD icon
7
Nomad Foods
NOMD
$1.61B
$10.9M 3.31%
+875,000
New +$10.7M
EXE
8
Expand Energy Corp
EXE
$22.8B
$8.53M 2.58%
77,260
-1,126
-1% -$125K
LNTH icon
9
Lantheus
LNTH
$6.56B
$8.49M 2.57%
127,607
-188,738
-60% -$11M
ECVT icon
10
Ecovyst
ECVT
$1.12B
$7.95M 2.4%
817,255
– –
DHC
11
Diversified Healthcare Trust
DHC
$1.86B
$7.76M 2.34%
1,600,000
– –
FOA icon
12
Finance of America Companies
FOA
$156M
$1.99M 0.6%
82,000
+25,000
+44% +$569K
SVC
13
Service Properties Trust
SVC
$961M
$1.98M 0.6%
215,000
– –
FWRD icon
14
Forward Air
FWRD
$589M
$1.93M 0.58%
77,357
-143,493
-65% -$3.23M
EXEEL
15
DELISTED
Expand Energy Corp Class C Warrants
EXEEL
$146K 0.04%
1,468
-930
-39% -$95.1K
BBGI icon
16
Beasley Broadcasting Group
BBGI
$32.1M
– –
-136,455
Closed -$611K
GNW icon
17
Genworth Financial
GNW
$3.95B
– –
-160,000
Closed -$1.42M
LQD icon
18
PUT
iShares iBoxx $ Investment Grade Corporate Bond ETF
LQD
$30.3B
– –
-2,000,000
Closed -$223M
NCLH icon
19
Norwegian Cruise Line
NCLH
$7.17B
– –
-347,600
Closed -$8.56M
TLT icon
20
PUT
iShares 20+ Year Treasury Bond ETF
TLT
$47B
– –
-1,725,000
Closed -$154M

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S
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1WCM
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SDAM
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Brigade Capital Management's Q4 2025 Portfolio in Review

As of Q4 2025, Brigade Capital Management held 25 positions worth $331M, down 59% from $815M the previous quarter. Its ten largest holdings account for 88% of the portfolio.

Brigade Capital Management withdrew a net $99.5M in Q4 2025, closing 5 positions and reducing 8 holdings. Its most notable exit was Norwegian Cruise Line, an estimated $8.56M position sold in full.

By sector, the portfolio is most concentrated in Miscellaneous at 72% of assets, down from 88% a quarter earlier, followed by Energy and Communication Services.

Against the trend, Brigade Capital Management opened a new position in Nomad Foods worth $10.9M.

  • Brigade Capital Management's largest Q4 2025 buy was Nomad Foods: 875,000 shares worth $10.9M.
  • Brigade Capital Management added most to Finance of America Companies in Q4 2025, an estimated $569K increase.
  • Brigade Capital Management's biggest Q4 2025 reduction was Lantheus, cutting an estimated $11M.
  • Brigade Capital Management fully exited Norwegian Cruise Line in Q4 2025, selling an estimated $8.56M.
  • Brigade Capital Management's ten largest holdings make up 88% of its $331M portfolio in Q4 2025.
  • Brigade Capital Management opened 3 new positions and closed 5 in Q4 2025.
  • Brigade Capital Management's portfolio value fell 59% quarter-over-quarter to $331M.

Based on Brigade Capital Management's 13F filing for Q4 2025, filed 13 Feb 2026.