In its 13F for Q1 2024 (holdings as of March 31, 2024, filed May 10, 2024), Bracebridge Capital, LLC reported 11 stock positions worth $501.4 million . Its top holding was ARK 21SHARES Bitcoin ETF (ARKB) at 61.3% of the portfolio, followed by iShares Bitcoin Trust ETF (IBIT, 20.1% ) and Alvotech (ALVO, 6.6% ). Compared with Q4 2023, it opened 5 new positions, sold out of 7, added to 1 and reduced 1. The biggest buy was a new position in ARK 21SHARES Bitcoin ETF (ARKB) and the biggest sale Alvotech (ALVO, shares −38% ).
Location BOSTON, MA
CIK 0001426486
Portfolio Value $501.4M (Q1 2024) Holdings 11 stocks · $501.4M Holdings quarter Q2 2026 Q1 2026 Q4 2025 Q3 2025 Q2 2025 Q1 2025 Q4 2024 Q3 2024 Q2 2024 Q1 2024
Stock % Of Portfolio ▼ Shares Held Total Value Change vs Q4 2023 ARKB ARK 21SHARES Bitcoin ETF 4,327,380 $307.2M New IBIT iShares Bitcoin Trust ETF 2,486,750 $100.6M New ALVO Alvotech SA 2,705,304 $33.1M Reduce -38.0% GBTC Grayscale Bitcoin Trust ETF 419,910 $26.5M New OSG Octave Specialty Group Inc. filed as AMBAC FINL GROUP INC 799,234 $12.5M No change ADT Adt Inc. 1,500,000 $10.1M New ASTL Algoma Steel Group Inc. 487,931 $4.1M Add +11.4% BXMT Blackstone Mortgage Tru Class A 208,000 $4.1M New AQST Aquestive Therapeutics Inc. 428,571 $1.8M No change CCO Clear Channel Outdoor Holdin 756,426 $1.2M No change AILWQ Arrowroot Acquisition Corp. 286,528 $52K No change
Options reported separately and not counted above: ISHARES TR calls ($103.3M), ISHARES TR puts ($103.3M), ISHARES TR calls ($77.7M), RIOT PLATFORMS INC puts ($2.9M), TRUMP MEDIA & TECHNOLOGY GRO puts ($1.1M).
Other holdings (27): bonds, preferreds, convertibles and warrants · $20.5M (not counted above) Security Class Shares / Principal Value Change LIBERTY INTERACTIVE LLC (LINTA 4 11/15/29) DEB 4.000%11/1 · principal 47,700,000 $19.4M No change DJTWW Trump Media & Technology Gro *W EXP 03/25/202 21,400 $586K New AISPW Airship AI Holdings Inc.-CW28 *W EXP 12/21/202 298,015 $135K No change TLSIW Medtech Acquisition Corp.-CW *W EXP 08/10/202 92,880 $93K Reduce -6.0% SEDA.WS SDCL Edge Acq Class A -CW28 *W EXP 99/99/999 211,900 $32K No change COCHW Envoy Medical Inc.-CW27 *W EXP 09/29/202 262,156 $28K No change AIRJW Power & Digital Acq -CW24 *W EXP 03/15/202 50,000 $28K New BNAIW Brand Engagement Netwo -CW27 *W EXP 03/14/202 166,666 $20K New LAKESHORE BIOPHARMA CO LTD *W EXP 03/15/202 232,323 $17K No change CRPWF Carbon Revolution PLC *W EXP 99/99/999 141,666 $13K No change KRNLW Kernel Group HLDG -A -CW27 *W EXP 99/99/999 270,517 $11K No change SLMWF Slam Corp.-A -CW27 *W EXP 99/99/999 37,500 $7K No change CVIIW Churchill Capital Vii -CW28 *W EXP 02/29/202 20,000 $6K No change SVIRF Spring Valley Acquisit-Right RIGHT 02/25/2026 50,000 $6K No change RRAWF Rigel Resource Acquisi -CW23 *W EXP 99/99/999 25,000 $6K No change HAIWF Healthcare AI Acq -CW23 *W EXP 12/07/202 121,400 $6K No change PNSWQ Banyan Acquisition Co. -CW23 *W EXP 09/30/202 22,500 $6K No change VSTWF Vast Solar PTY Ltd. -28 *W EXP 07/01/202 75,000 $5K No change PERCEPTION CAPITAL CORP IV *W EXP 99/99/999 75,000 $4K No change ALURW Allurion Technologies-28 *W EXP 08/01/203 15,311 $4K No change EVCOW Everest Consolidator Acquisi *W EXP 99/99/999 17,500 $3K No change SVIWF Spring Valley Acquisition-Aw *W EXP 02/25/202 25,000 $3K No change CRMLW Critical Metals Corp.-28 *W EXP 02/27/202 12,500 $2K New TVGNW Semper Paratus Acqu -CW26 *W EXP 02/14/202 12,500 $1K New STWWF Semantix Inc. -27 *W EXP 08/03/202 66,500 $765 No change PHYWF PHYT WS -CW *W EXP 05/03/202 25,000 $628 No change GCTS.WS Concord Acq Class A -CW28 *W EXP 03/01/202 75,000 $0 New
Total filed on the 13F, all lines: $521.8M.
Portfolio Sells Q4 2023 → Q1 2024 Portfolio Sells quarter Q2 2026 Q1 2026 Q4 2025 Q3 2025 Q2 2025 Q1 2025 Q4 2024 Q3 2024 Q2 2024 Q1 2024
Stock Change vs Q4 2023 % Of Portfolio Change To Portfolio ▲ ALVO Alvotech SA Reduce -38.0% 6.59% −61.80 QVCG QVC Group Inc. Sold out 0.00% −3.63 SVIIF Spring Valley Acquisition-A Sold out 0.00% −0.74 ALTERNUS CLEAN ENERGY INC Sold out 0.00% −0.12 GCTS.WS Concord Acquisition Corp. III Sold out 0.00% −0.01 DHC ACQUISITION CORP Sold out 0.00% −0.00 AIRJW Power & Digital Infrastructu Sold out 0.00% −0.00 TVGNW Semper Paratus Acquisition C Sold out 0.00% −0.00
Portfolio Buys Q4 2023 → Q1 2024 Portfolio Buys quarter Q2 2026 Q1 2026 Q4 2025 Q3 2025 Q2 2025 Q1 2025 Q4 2024 Q3 2024 Q2 2024 Q1 2024
Stock Change vs Q4 2023 % Of Portfolio Change To Portfolio ▼ ARKB ARK 21SHARES Bitcoin ETF New 61.26% +61.26 IBIT iShares Bitcoin Trust ETF New 20.07% +20.07 GBTC Grayscale Bitcoin Trust ETF New 5.29% +5.29 ADT Adt Inc. New 2.01% +2.01 BXMT Blackstone Mortgage Tru Class A New 0.83% +0.83 ASTL Algoma Steel Group Inc. Add +11.4% 0.83% −5.17
Options Activity Q4 2023 → Q1 2024 Security Type Change vs Q4 2023 Underlying Shares Value ▼ ISHARES TR put Sold out 25,000 $193.5Mbefore exit ISHARES TR call New 25,150 $103.3M ISHARES TR put New 25,150 $103.3M ISHARES TR call Add +112.8% 10,000 $77.7M ISHARES TR call Sold out 2,500 $50.2Mbefore exit ISHARES TR put Sold out 2,500 $50.2Mbefore exit VINFAST AUTO LTD put Sold out 10,000 $8.4Mbefore exit RIOT PLATFORMS INC put New 3,000 $2.9M TRUMP MEDIA & TECHNOLOGY GRO put New 214 $1.1M
Calls and puts are listed by the shares they cover; their value is not part of the stock holdings above.
Notes & Other Activity Q4 2023 → Q1 2024 Security Class Change vs Q4 2023 Shares / Principal Value ▼ DISH NETWORK CORP (DISH 2.375 03/15/24) NOTE 2.375% 3/1 · principal Sold out 40,225,000 $39.8Mbefore exit DJTWW Trump Media & Technology Gro *W EXP 03/25/202 New 21,400 $586K TLSIW Medtech Acquisition Corp.-CW *W EXP 08/10/202 Reduce -6.0% 92,880 $93K AIRJW Power & Digital Acq -CW24 *W EXP 03/15/202 New 50,000 $28K BNAIW Brand Engagement Netwo -CW27 *W EXP 03/14/202 New 166,666 $20K EACPW Edify Acq Class A -CW27 *W EXP 11/25/202 Sold out 250,000 $4Kbefore exit CRMLW Critical Metals Corp.-28 *W EXP 02/27/202 New 12,500 $2K SZZLW Sizzle Acquisition Corp.-CW26 *W EXP 11/02/202 Sold out 12,500 $1Kbefore exit HHLA.WS Hh&l Acquisition -A -CW26 *W EXP 02/04/202 Sold out 42,531 $1Kbefore exit TVGNW Semper Paratus Acqu -CW26 *W EXP 02/14/202 New 12,500 $1K GCTS.WS Concord Acq Class A -CW28 *W EXP 03/01/202 New 75,000 $0
Bonds, preferreds, convertibles and warrants; not part of the stock holdings or percentages above.
All Filings Quarter Positions 13F Reported Value Top Holdings Q2 2026 16 $459.8M GLD, UNIT, CZR, ADT, SVC Q1 2026 17 $553.9M GLD, UNIT, TSLA, ADT, ALVO Q4 2025 13 $269.4M GLD, UNIT, ADT, ALVO, AAM Q3 2025 14 $228.7M RSP, UNIT, ALVO, ADT, OPTU Q2 2025 15 $181.3M IWM, ALVO, OPTU, ADT, GNW Q1 2025 15 $144.4M ALVO, OPTU, ADT, GNW, NVDA Q4 2024 18 $995.7M FBTC, IVV, RSP, ALVO, OPTU Q3 2024 14 $245.7M ARKB, ALVO, OPTU, UNIT, GNW Q2 2024 10 $182.1M ARKB, ALVO, ADT, OSG, UNIT Q1 2024 11 $501.4M ARKB, IBIT, ALVO, GBTC, OSG