Brigade Capital Management, LP
In its 13F for Q2 2024 (holdings as of June 30, 2024, filed August 14, 2024), Brigade Capital Management, LP reported 10 stock positions worth $74.9 million. Its top holding was Greenfire Resources (GFR) at 47.5% of the portfolio, followed by Ecovyst (ECVT, 12.5%) and Penn Entertainment (PENN, 11.6%). Compared with Q1 2024, it opened 1 new position, sold out of 3, added to 2 and reduced 2. The biggest buy was a new position in Penn Entertainment (PENN) and the biggest sale an exit from Playags (AGS).
- Most Recent 13F
- Q2 2026
- Location
- NEW YORK, NY
- CIK
- 0001421306
- Portfolio Value
- $74.9M (Q2 2024)
- SEC Filing
- 0000919574-24-004653 ↗ filed Aug 14, 2024
Holdings Value
Holdings 10 stocks · $74.9M
| GFR Greenfire Resources Ltd. | 47.48% | 5,271,215 | $35.6M | Reduce -10.3% |
| ECVT Ecovyst Inc. | 12.49% | 1,042,000 | $9.4M | Add +13.6% |
| PENN Penn Entertainment Inc. | 11.62% | 450,000 | $8.7M | New |
| MLCO Melco Resorts & Entert-ADR | 11.25% | 1,130,000 | $8.4M | No change |
| XCCC Bondbloxx-CCC-Usd HY Corp. BD | 6.39% | 128,000 | $4.8M | No change |
| LUMN Lumen Technologies Inc. | 2.94% | 2,000,000 | $2.2M | No change |
| VST Vistra Corp. | 2.49% | 21,701 | $1.9M | Reduce -49.2% |
| QVCG QVC Group Inc. filed as QURATE RETAIL INC | 2.45% | 2,917,578 | $1.8M | No change |
| DHC Diversified Healthcare Trust | 1.63% | 400,000 | $1.2M | Add +100.0% |
| VISN Vistance Networks Inc. filed as COMMSCOPE HLDG CO INC | 1.28% | 777,000 | $956K | No change |
Options reported separately and not counted above: SPY puts ($217.7M), IWM calls ($101.4M).
Other holdings (5): bonds, preferreds, convertibles and warrants · $43.7M (not counted above)
| Security | Class | Shares / Principal | Value | Change |
|---|---|---|---|---|
| LIBERTY INTERACTIVE LLC (LINTA 3.75 02/15/30) | DEB 3.750% 2/1 · principal | 104,599,000 | $31.4M | Add +2.2% |
| LIBERTY INTERACTIVE LLC (LINTA 4 11/15/29) | DEB 4.000%11/1 · principal | 15,334,000 | $4.7M | Reduce -0.2% |
| AGMIT MERGER SUB LLC (MITT 6.75 09/15/24) | NOTE 6.750% 9/1 · principal | 4,000,000 | $4.0M | No change |
| LIBERTY LATIN AMERICA (LILAK 2 07/15/24) | NOTE 2.000% 7/1 · principal | 2,360,000 | $2.4M | No change |
| TWO HARBORS INV CORP (TWO 6.25 01/15/26) | NOTE 6.250% 1/1 · principal | 1,325,000 | $1.3M | No change |
Total filed on the 13F, all lines: $118.6M.
Portfolio Sells Q1 2024 → Q2 2024
Portfolio Buys Q1 2024 → Q2 2024
Options Activity Q1 2024 → Q2 2024
| SPY SS SPDR S&P 500 ETF Trust-US | put | New | 400,000 | $217.7M |
| IWM iShares Russell 2000 ETF | call | Reduce -67.2% | 500,000 | $101.4M |
| EL Estee Lauder Companies Class A | call | Sold out | 10,700 | $1.6Mbefore exit |
| EL Estee Lauder Companies Class A | put | Sold out | 10,700 | $1.6Mbefore 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 2024 → Q2 2024
| LIBERTY INTERACTIVE LLC (LINTA 3.75 02/15/30) | DEB 3.750% 2/1 · principal | Add +2.2% | 104,599,000 | $31.4M |
| LIBERTY INTERACTIVE LLC (LINTA 4 11/15/29) | DEB 4.000%11/1 · principal | Reduce -0.2% | 15,334,000 | $4.7M |
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 |