Brigade Capital Management, LP
In its 13F for Q2 2026 (holdings as of June 30, 2026, filed August 14, 2026), Brigade Capital Management, LP reported 9 stock positions worth $86.1 million. Its top holding was Lantheus (LNTH) at 42.4% of the portfolio, followed by Expand Energy (EXE, 11.2%) and Vistra (VST, 9.4%). Compared with Q1 2026, it opened 4 new positions, sold out of 3, added to 2 and reduced 2. The biggest buy was a new position in Vistra (VST) and the biggest sale an exit from Ecovyst (ECVT).
- Most Recent 13F
- Q2 2026
- Location
- NEW YORK, NY
- CIK
- 0001421306
- Portfolio Value
- $86.1M (Q2 2026)
- SEC Filing
- 0000919574-26-005183 ↗ filed Aug 14, 2026
Holdings Value
Holdings 9 stocks · $86.1M
| LNTH Lantheus Holdings Inc. | 42.36% | 328,745 | $36.5M | Reduce -9.6% |
| EXE Expand Energy Corp. | 11.20% | 105,871 | $9.6M | Add +37.3% |
| VST Vistra Corp. | 9.43% | 51,200 | $8.1M | New |
| FOA Finance of America Cos Inc. Class A | 8.96% | 280,476 | $7.7M | Add +78.7% |
| LMRI Lumexa Imaging Holdings Inc. | 8.72% | 665,900 | $7.5M | New |
| UAL United Airlines Holdings Inc. | 8.50% | 53,850 | $7.3M | New |
| EMBC Embecta Corp. | 5.74% | 1,516,453 | $4.9M | New |
| LUMN Lumen Technologies Inc. | 4.90% | 550,000 | $4.2M | Reduce -70.3% |
| CNTY Century Casinos Inc. | 0.17% | 117,549 | $150K | No change |
Options reported separately and not counted above: TLT puts ($259.3M), IWM puts ($90.1M), HYG puts ($32.0M).
Other holdings (3): bonds, preferreds, convertibles and warrants · $66.8M (not counted above)
| Security | Class | Shares / Principal | Value | Change |
|---|---|---|---|---|
| LANTHEUS HOLDINGS INC (LNTH 2.625 12/15/27) | NOTE 2.625%12/1 · principal | 43,417,000 | $62.5M | Reduce -11.0% |
| LIBERTY INTERACTIVE LLC (LINTA 3.75 02/15/30) | DEB 3.750% 2/1 · principal | 73,105,000 | $3.9M | Reduce -4.5% |
| LIBERTY INTERACTIVE LLC (LINTA 4 11/15/29) | DEB 4.000%11/1 · principal | 7,700,000 | $385K | No change |
Total filed on the 13F, all lines: $152.9M.
Portfolio Sells Q1 2026 → Q2 2026
Portfolio Buys Q1 2026 → Q2 2026
Options Activity Q1 2026 → Q2 2026
| TLT iShares 20+ Year Treasury BD | put | Add +46.3% | 3,000,000 | $259.3M |
| LQD Ishr Ibx Usd Invgd CB ETF-Ui | call | Sold out | 1,000,000 | $109.0Mbefore exit |
| HYG Ishr Ibx Usd Hiyld CB ETF-Ui | call | Sold out | 1,200,000 | $95.5Mbefore exit |
| IWM iShares Russell 2000 ETF | put | New | 300,000 | $90.1M |
| IWM iShares Russell 2000 ETF | call | Sold out | 305,000 | $75.6Mbefore exit |
| HYG Ishr Ibx Usd Hiyld CB ETF-Ui | put | Reduce -83.3% | 400,000 | $32.0M |
| CRWV Coreweave Inc. Class A | put | Sold out | 100,000 | $7.7Mbefore exit |
| LNTH Lantheus Holdings Inc. | call | Sold out | 100,000 | $7.6Mbefore exit |
Calls and puts are listed by the shares they cover; their value is not part of the stock holdings above.
Notes & Other Activity Q1 2026 → Q2 2026
| LANTHEUS HOLDINGS INC (LNTH 2.625 12/15/27) | NOTE 2.625%12/1 · principal | Reduce -11.0% | 43,417,000 | $62.5M |
| LIBERTY INTERACTIVE LLC (LINTA 3.75 02/15/30) | DEB 3.750% 2/1 · principal | Reduce -4.5% | 73,105,000 | $3.9M |
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 | 9 | $86.1M | LNTH, EXE, VST, FOA, LMRI |
| Q1 2026 | 8 | $80.3M | LNTH, LUMN, ECVT, SPY, EXE |
| Q4 2025 | 10 | $100.6M | NBR, LUMN, NOMD, EXE, LNTH |
| Q3 2025 | 12 | $107.2M | NBR, LUMN, LNTH, NCLH, EXE |
| Q2 2025 | 10 | $78.6M | NBR, LUMN, LNTH, EXE, ECVT |
| Q1 2025 | 8 | $59.0M | NBR, EXE, ECVT, FWRD, SVC |
| Q4 2024 | 7 | $26.5M | EXE, MLCO, FWRD, ECVT, FOA |
| Q3 2024 | 11 | $141.1M | LQD, GFR, ECVT, MLCO, EXE |
| Q2 2024 | 10 | $74.9M | GFR, ECVT, PENN, MLCO, XCCC |
| Q1 2024 | 12 | $89.6M | GFR, AGS, ECVT, MLCO, XCCC |