In its 13F for Q3 2024 (holdings as of September 30, 2024, filed November 14, 2024), Bracebridge Capital, LLC reported 14 stock positions worth $245.7 million . Its top holding was ARK 21SHARES Bitcoin ETF (ARKB) at 48.3% of the portfolio, followed by Alvotech (ALVO, 13.1% ) and Optimum Communications Class A (OPTU, 6.5% ). Compared with Q2 2024, it opened 4 new positions, added to 2 and reduced 1. The biggest buy was a new position in Optimum Communications Class A (OPTU) and the biggest sale Blackstone Mortgage Tru Class A (BXMT, shares −10% ).
Location BOSTON, MA
CIK 0001426486
Portfolio Value $245.7M (Q3 2024) Holdings 14 stocks · $245.7M 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 Q2 2024 ARKB ARK 21SHARES Bitcoin ETF 1,870,151 $118.7M No change ALVO Alvotech SA 2,705,304 $32.2M No change OPTU Optimum Communications Inc. Class A filed as ALTICE USA INC 6,532,640 $16.1M New UNIT Uniti Group LLC Com SHS 2,432,038 $13.7M No change GNW Genworth Financial Inc. 1,749,200 $12.0M New ADT Adt Inc. 1,626,000 $11.8M Add +8.4% BSIIU Black Spade Acquisition II C 975,000 $9.7M New ASTL Algoma Steel Group Inc. 924,931 $9.5M Add +89.6% OSG Octave Specialty Group Inc. filed as AMBAC FINL GROUP INC 579,234 $6.5M No change AAM Aa Mission Acquisition Cor-A 600,000 $6.0M New BXMT Blackstone Mortgage Tru Class A 229,400 $4.4M Reduce -9.8% AQST Aquestive Therapeutics Inc. 428,571 $2.1M No change IHRT Iheartmedia Inc. Class A 1,008,456 $1.9M No change CCO Clear Channel Outdoor Holdin 756,426 $1.2M No change
Options reported separately and not counted above: ISHARES TR puts ($321.2M), STRATEGY INC puts ($28.7M).
Other holdings (23): bonds, preferreds, convertibles and warrants · $17.2M (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 $16.9M No change AILWQ Arrowroot Acquisition -CW26 *W EXP 04/16/202 286,528 $76K No change AISPW Airship AI Holdings Inc.-CW28 *W EXP 12/21/202 298,015 $63K No change SEDA.WS SDCL Edge Acq Class A -CW28 *W EXP 99/99/999 211,900 $21K No change AIRJW Power & Digital Acq -CW24 *W EXP 03/15/202 50,000 $21K No change COCHW Envoy Medical Inc.-CW27 *W EXP 09/29/202 262,156 $21K No change AAM.WS Aa Mission Acquisition -30 *W EXP 08/01/203 300,000 $18K New LAKESHORE BIOPHARMA CO LTD *W EXP 03/15/202 232,323 $15K No change BNAIW Brand Engagement Netwo -CW27 *W EXP 03/14/202 166,666 $12K No change GCTS.WS Concord Acq Class A -CW28 *W EXP 03/01/202 75,000 $10K No change RRAWF Rigel Resource Acquisi -CW23 *W EXP 99/99/999 25,000 $9K No change SVIRF Spring Valley Acquisit-Right RIGHT 02/25/2026 50,000 $5K No change CRPWF Carbon Revolution PLC *W EXP 99/99/999 141,666 $5K No change PERCEPTION CAPITAL CORP IV *W EXP 99/99/999 75,000 $4K No change VSTWF Vast Solar PTY Ltd. -28 *W EXP 07/01/202 75,000 $4K No change HAIWF Healthcare AI Acq -CW23 *W EXP 12/07/202 121,400 $3K No change CRMLW Critical Metals Corp.-28 *W EXP 02/27/202 12,500 $3K No change PHYWF PHYT WS -CW *W EXP 05/03/202 25,000 $2K No change SVIWF Spring Valley Acquisition-Aw *W EXP 02/25/202 25,000 $928 No change ALURW Allurion Technologies-28 *W EXP 08/01/203 15,311 $616 No change EVCOW Everest Consolidator Acquisi *W EXP 99/99/999 17,500 $520 No change PNSWQ Banyan Acquisition Co. -CW23 *W EXP 09/30/202 22,500 $243 No change TVGNW Semper Paratus Acqu -CW26 *W EXP 02/14/202 12,500 $161 No change
Total filed on the 13F, all lines: $262.9M.
Portfolio Sells Q2 2024 → Q3 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 Q2 2024 % Of Portfolio Change To Portfolio ▲ BXMT Blackstone Mortgage Tru Class A Reduce -9.8% 1.78% −0.66
Portfolio Buys Q2 2024 → Q3 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 Q2 2024 % Of Portfolio Change To Portfolio ▼ OPTU Optimum Communications Inc. Class A New 6.54% +6.54 GNW Genworth Financial Inc. New 4.88% +4.88 BSIIU Black Spade Acquisition II C New 3.95% +3.95 AAM Aa Mission Acquisition Cor-A New 2.45% +2.45 ASTL Algoma Steel Group Inc. Add +89.6% 3.85% +1.99 ADT Adt Inc. Add +8.4% 4.79% −1.48
Options Activity Q2 2024 → Q3 2024 Security Type Change vs Q2 2024 Underlying Shares Value ▼ ISHARES TR put New 40,000 $321.2M ISHARES TR call Sold out 18,000 $138.9Mbefore exit ISHARES TR call Sold out 25,150 $107.1Mbefore exit ISHARES TR put Sold out 25,150 $107.1Mbefore exit STRATEGY INC put New 1,700 $28.7M
Calls and puts are listed by the shares they cover; their value is not part of the stock holdings above.
Notes & Other Activity Q2 2024 → Q3 2024 Security Class Change vs Q2 2024 Shares / Principal Value ▼ TLSIW Medtech Acquisition Corp.-CW *W EXP 08/10/202 Sold out 92,880 $151Kbefore exit KRNLW Kernel Group HLDG -A -CW27 *W EXP 99/99/999 Sold out 270,517 $35Kbefore exit AAM.WS Aa Mission Acquisition -30 *W EXP 08/01/203 New 300,000 $18K SLMWF Slam Corp.-A -CW27 *W EXP 99/99/999 Sold out 37,500 $9Kbefore exit CVIIW Churchill Capital Vii -CW28 *W EXP 02/29/202 Sold out 20,000 $7Kbefore exit
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