Brigade Capital Management, LP
In its 13F for Q3 2024 (holdings as of September 30, 2024, filed November 14, 2024), Brigade Capital Management, LP reported 11 stock positions worth $141.1 million. Its top holding was Ishr Ibx Usd Invgd CB ETF-Ui (LQD) at 41.0% of the portfolio, followed by Greenfire Resources (GFR, 26.9%) and Ecovyst (ECVT, 6.9%). Compared with Q2 2024, it opened 3 new positions, sold out of 2, added to 1 and reduced 3. The biggest buy was a new position in Ishr Ibx Usd Invgd CB ETF-Ui (LQD) and the biggest sale Greenfire Resources (GFR, shares −3%).
- Most Recent 13F
- Q2 2026
- Location
- NEW YORK, NY
- CIK
- 0001421306
- Portfolio Value
- $141.1M (Q3 2024)
- SEC Filing
- 0000919574-24-006712 ↗ filed Nov 14, 2024
Holdings Value
Holdings 11 stocks · $141.1M
| LQD Ishr Ibx Usd Invgd CB ETF-Ui | 41.05% | 512,500 | $57.9M | New |
| GFR Greenfire Resources Ltd. | 26.89% | 5,092,694 | $37.9M | Reduce -3.4% |
| ECVT Ecovyst Inc. | 6.94% | 1,427,000 | $9.8M | Add +37.0% |
| MLCO Melco Resorts & Entert-ADR | 6.24% | 1,130,000 | $8.8M | No change |
| EXE Expand Energy Corp. filed as CHESAPEAKE ENERGY CORP | 4.49% | 77,120 | $6.3M | New |
| PENN Penn Entertainment Inc. | 3.85% | 288,005 | $5.4M | Reduce -36.0% |
| XCCC Bondbloxx-CCC-Usd HY Corp. BD | 3.61% | 128,000 | $5.1M | No change |
| M Macy's Inc. | 2.85% | 256,000 | $4.0M | New |
| VST Vistra Corp. | 1.63% | 19,392 | $2.3M | Reduce -10.6% |
| QVCG QVC Group Inc. filed as QURATE RETAIL INC | 1.26% | 2,917,578 | $1.8M | No change |
| DHC Diversified Healthcare Trust | 1.19% | 400,000 | $1.7M | No change |
Options reported separately and not counted above: SPY puts ($172.1M), IWM calls ($110.4M).
Other holdings (2): bonds, preferreds, convertibles and warrants · $35.3M (not counted above)
| Security | Class | Shares / Principal | Value | Change |
|---|---|---|---|---|
| LIBERTY INTERACTIVE LLC (LINTA 3.75 02/15/30) | DEB 3.750% 2/1 · principal | 90,599,000 | $31.3M | Reduce -13.4% |
| LIBERTY INTERACTIVE LLC (LINTA 4 11/15/29) | DEB 4.000%11/1 · principal | 11,334,000 | $4.0M | Reduce -26.1% |
Total filed on the 13F, all lines: $176.4M.
Portfolio Sells Q2 2024 → Q3 2024
Portfolio Buys Q2 2024 → Q3 2024
Options Activity Q2 2024 → Q3 2024
| SPY SS SPDR S&P 500 ETF Trust-US | put | Reduce -25.0% | 300,000 | $172.1M |
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
| LIBERTY INTERACTIVE LLC (LINTA 3.75 02/15/30) | DEB 3.750% 2/1 · principal | Reduce -13.4% | 90,599,000 | $31.3M |
| LIBERTY INTERACTIVE LLC (LINTA 4 11/15/29) | DEB 4.000%11/1 · principal | Reduce -26.1% | 11,334,000 | $4.0M |
| AGMIT MERGER SUB LLC (MITT 6.75 09/15/24) | NOTE 6.750% 9/1 · principal | Sold out | 4,000,000 | $4.0Mbefore exit |
| LIBERTY LATIN AMERICA (LILAK 2 07/15/24) | NOTE 2.000% 7/1 · principal | Sold out | 2,360,000 | $2.4Mbefore exit |
| TWO HARBORS INV CORP (TWO 6.25 01/15/26) | NOTE 6.250% 1/1 · principal | Sold out | 1,325,000 | $1.3Mbefore 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 | 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 |