BCM
Brigade Capital Management Portfolio holdings
AUM
$534M
Turnover
56.52%
1-Year Est. Return
44.37%
This Fund
S&P 500
This Quarter
Est. Return
+1.85%
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
$806M
AUM Growth
+$475M
(+143%)
Cap. Flow
-$66.8M
Cap. Flow
% of AUM
-8.29%
Top 10 Holdings %
Top 10 Hldgs %
95.27%
Holding
27
New
9
Increased
2
Reduced
1
Closed
9
Avg Time Held Equity + Options
1.4
years
Top 10 Avg Time Held Equity + Options
0.1
years
Top 20 Avg Time Held Equity + Options
1.4
years
Avg Time Held Equity only
2.3
years
Top 10 Avg Time Held Equity only
1.9
years
Top 20 Avg Time Held Equity only
2.3
years
Top Buys
| Rank | Stock | Value |
|---|---|---|
| 1 |
Lantheus
LNTH
|
+$17M |
| 2 |
State Street SPDR S&P 500 ETF Trust
SPY
|
+$10.2M |
| 3 |
Finance of America Companies
FOA
|
+$1.55M |
| 4 |
Century Casinos
CNTY
|
+$179K |
Top Sells
| Rank | Stock | Value |
|---|---|---|
| 1 |
Nabors Industries
NBR
|
+$36.7M |
| 2 |
Diversified Healthcare Trust
DHC
|
+$7.76M |
| 3 |
SVC
Service Properties Trust
SVC
|
+$1.98M |
| 4 |
Forward Air
FWRD
|
+$1.93M |
| 5 |
EXEEL
Expand Energy Corp Class C Warrants
EXEEL
|
+$146K |
Sector Composition
| Rank | Sector | Weight |
|---|---|---|
| 1 | Miscellaneous | 91.24% |
| 2 | Healthcare | 3.42% |
| 3 | Communication Services | 1.59% |
| 4 | Materials | 1.3% |
| 5 | Energy | 1.05% |
| Name | Market Value | Portfolio Weight | Shares or Principal |
Change in Stake | Capital Flow | Held Since | |
|---|---|---|---|---|---|---|---|
1
PUT
iShares iBoxx $ High Yield Corporate Bond ETF
HYG
$17.8B
| $191M | 23.7% |
+2,400,000
| New | +$193M |
2026 Q1
0 quarters
|
|
2
PUT
iShares 20+ Year Treasury Bond ETF
TLT
$49B
| $178M | 22.05% |
+2,050,000
| New | +$180M |
2026 Q1
0 quarters
|
|
3
CALL
iShares iBoxx $ Investment Grade Corporate Bond ETF
LQD
$29.2B
| $109M | 13.53% |
+1,000,000
| New | +$110M |
2026 Q1
0 quarters
|
|
|
4
CALL
iShares iBoxx $ High Yield Corporate Bond ETF
HYG
$17.8B
| $95.5M | 11.85% |
+1,200,000
| New | +$96.5M |
2026 Q1
0 quarters
|
|
5
CALL
iShares Russell 2000 ETF
IWM
$76.4B
| $75.6M | 9.39% |
+305,000
| New | +$78.7M |
2026 Q1
0 quarters
|
|
|
6
Lantheus
LNTH
$6.53B
| $27.6M | 3.42% |
363,745
+236,138
| +185% | +$17M |
2025 Q2
3 quarters
|
|
7
Lumen Technologies, Inc. Common Stock
LUMN
$4.69B
| $12.8M | 1.59% |
1,850,000
| – | – |
2025 Q2
3 quarters
|
|
8
Ecovyst
ECVT
$1.09B
| $10.5M | 1.3% |
817,255
| – | – |
2023 Q1
12 quarters
|
|
|
9
State Street SPDR S&P 500 ETF Trust
SPY
$813B
| $9.75M | 1.21% |
+15,000
| New | +$10.2M |
2026 Q1
0 quarters
|
|
10
Expand Energy Corp
EXE
$21.1B
| $8.47M | 1.05% |
77,120
-140
| -0.2% | -$14.9K |
2024 Q3
6 quarters
|
|
11
Nomad Foods
NOMD
$1.58B
| $8.41M | 1.04% |
875,000
| – | – |
2025 Q4
1 quarter
|
|
12
PUT
CoreWeave
CRWV
$36.3B
| $7.75M | 0.96% |
+100,000
| New | +$8.68M |
2026 Q1
0 quarters
|
|
|
13
CALL
Lantheus
LNTH
$6.53B
| $7.58M | 0.94% |
+100,000
| New | +$7.18M |
2026 Q1
0 quarters
|
|
|
14
Finance of America Companies
FOA
$103M
| $2.61M | 0.32% |
157,000
+75,000
| +91% | +$1.55M |
2024 Q4
5 quarters
|
|
|
15
Century Casinos
CNTY
$23.7M
| $163K | 0.02% |
+117,549
| New | +$179K |
2026 Q1
0 quarters
|
|
|
16
Diversified Healthcare Trust
DHC
$1.81B
| – | – |
-1,600,000
| Closed | -$7.76M | – |
|
|
17
Forward Air
FWRD
$525M
| – | – |
-77,357
| Closed | -$1.93M | – |
|
18
CALL
SPDR Gold Trust
GLD
$139B
| – | – |
-200,000
| Closed | -$79.3M | – |
|
|
19
PUT
iShares Russell 2000 ETF
IWM
$76.4B
| – | – |
-69,000
| Closed | -$17M | – |
|
|
20
Nabors Industries
NBR
$1.19B
| – | – |
-675,879
| Closed | -$36.7M | – |
|
21
PUT
Oracle
ORCL
$396B
| – | – |
-140,000
| Closed | -$27.3M | – |
|
|
22
PUT
State Street SPDR S&P 500 ETF Trust
SPY
$813B
| – | – |
-45,200
| Closed | -$30.8M | – |
|
|
SVC
23
Service Properties Trust
SVC
$758M
| – | – |
-215,000
| Closed | -$1.98M | – |
|
|
EXEEL
24
DELISTED
Expand Energy Corp Class C Warrants
EXEEL
| – | – |
-1,468
| Closed | -$146K | – |
|
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Brigade Capital Management's Q1 2026 Portfolio in Review
As of Q1 2026, Brigade Capital Management held 27 positions worth $806M, up 143% from $331M the previous quarter. Its ten largest holdings account for 95% of the portfolio.
Brigade Capital Management withdrew a net $66.8M in Q1 2026, closing 9 positions and reducing 1 holding. Its most notable exit was Nabors Industries, an estimated $36.7M position sold in full.
By sector, the portfolio is most concentrated in Miscellaneous at 91% of assets, up from 72% a quarter earlier, followed by Healthcare and Communication Services.
Against the trend, Brigade Capital Management opened a new position in State Street SPDR S&P 500 ETF Trust worth $9.75M.
- Brigade Capital Management's largest Q1 2026 buy was State Street SPDR S&P 500 ETF Trust: 15,000 shares worth $9.75M.
- Brigade Capital Management added most to Lantheus in Q1 2026, an estimated $17M increase.
- Brigade Capital Management's biggest Q1 2026 reduction was Expand Energy Corp, cutting an estimated $14.9K.
- Brigade Capital Management fully exited Nabors Industries in Q1 2026, selling an estimated $36.7M.
- Brigade Capital Management's ten largest holdings make up 95% of its $806M portfolio in Q1 2026.
- Brigade Capital Management opened 9 new positions and closed 9 in Q1 2026.
- Brigade Capital Management's portfolio value rose 143% quarter-over-quarter to $806M.
Based on Brigade Capital Management's 13F filing for Q1 2026, filed 15 May 2026.