Bracebridge Capital, LLC
Bracebridge Capital, LLC reported 26 US-listed holdings worth $460.1 million in its 13F for the quarter ended 30 June 2026, filed 14 August 2026. Its largest: SPDR Gold Trust (50.7%), Uniti Group Inc. (20.0%) and Caesars Entertainment, Inc. (6.2%). Against the quarter before, it opened 4 positions, added to 4, trimmed 1 and sold out of 5.
The 14 largest of its 26 positions, each sized by its share of the reported holdings, coloured by the change in shares against Q1 2026.
What the fund reported holding at each quarter's end; hover a bar for the number of positions
What its reported holdings returned
Held through each quarter, the holdings it reported returned +21.8% over the 7 quarters to 30 June 2026, against +30.2% for the S&P 500.
Not the fund's own return: each 13F's holdings are kept unchanged until the next one, so trades inside a quarter, dividends, cash and fees are left out. A rough guide to how its picks have done over time.
What it did on the quarter
Its positions against its 13F for the quarter to 31 March 2026; a change under 0.1% of a position counts as held
Opened 4
- Caesars Entertainment, Inc. CZR$28.6 million
- Service Pptys Trust SVC$19.1 million
- Forward Air Corp. FWRD$19.0 million
- Space Exploration Techn Corp. Class A Com STK SPCX$7.9 million
Added to 4
- ADT Inc. ADT+1.0 million shares · +47%
- Alvotech ALVO+1.3 million shares · +49%
- Uniti Group Inc. UNIT+280,125 shares · +4%
- PDD Holdings Inc. PDD+2,000 shares · +17%
Trimmed 1
- SPDR Gold Trust GLD-320,000 shares · -34%
Sold out of 5
- Tesla, Inc. TSLA$14.6 million last quarter
- iShares Trust HYG$3.0 million last quarter
- AMC Entertainment Holdings, Inc. AMC$2.7 million last quarter
- Altice USA Inc. OPTU$2.3 million last quarter
- Clear Channel Outdoor Hldgs CCO$1.8 million last quarter
What it holds
| Company | Shares | Value | Of its book | Change in shares |
|---|---|---|---|---|
| SPDR Gold Trust GLD | 633.5K | $233.4 million | 50.72% | -320.0K |
| Uniti Group Inc. UNIT | 8.0M | $92.0 million | 20.00% | +280.1K |
| Caesars Entertainment, Inc. CZR | 946.6K | $28.6 million | 6.21% | new |
| ADT Inc. ADT | 3.1M | $20.3 million | 4.42% | +1.0M |
| Service Pptys Trust SVC | 11.3M | $19.1 million | 4.16% | new |
| Forward Air Corp. FWRD | 1.4M | $19.0 million | 4.13% | new |
| Alvotech ALVO | 4.0M | $14.9 million | 3.24% | +1.3M |
| Space Exploration Techn Corp. Class A Com STK SPCX | 46.3K | $7.9 million | 1.72% | new |
| Genworth Financial Inc. GNW | 714.4K | $6.8 million | 1.47% | no change |
| Blackstone MTG Trust Inc. BXMT | 241.7K | $4.1 million | 0.89% | no change |
| Algoma STL Group Inc. ASTL | 924.9K | $3.7 million | 0.81% | no change |
| Ambac Finl Group Inc. OSG | 579.2K | $3.6 million | 0.79% | no change |
| Aquestive Therapeutics Inc. AQST | 459.2K | $1.9 million | 0.42% | no change |
| Atrium Therapeutics Inc. RNA | 139.2K | $1.9 million | 0.41% | no change |
| TPG Re Fin Trust Inc. TRTX | 182.2K | $1.5 million | 0.33% | no change |
| PDD Holdings Inc. PDD | 13.6K | $1.0 million | 0.23% | +2.0K |
| Montana Technologies Corp. AIRJW | 50.0K | $65,000 | 0.01% | no change |
| Generation Essentials Group TGEWS | 325.0K | $58,500 | 0.01% | no change |
| Critical Metals Corp. CRMLW | 12.5K | $44,625 | 0.01% | no change |
| GCT Semiconductor Hldg Inc. GCTSWS | 75.0K | $36,750 | 0.01% | no change |
| Eagle Nuclear Energy Corp. NUCLW | 25.0K | $36,250 | 0.01% | no change |
| Brand Engagement Network Inc. BNAIW | 166.7K | $23,333 | 0.01% | no change |
| Envoy Medical Inc. COCHW | 262.2K | $13,055 | 0.00% | no change |
| Blue Gold Ltd BGLWW | 75.0K | $7,208 | 0.00% | no change |
| Cid Holdco Inc. DAICW | 62.5K | $769 | 0.00% | no change |
| Tevogen Bio Hldgs Inc. TVGNW | 12.5K | $710 | 0.00% | no change |
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Change is shares against its 13F for the quarter before; the 5 it sold out of are in the box above.Options it reported
| Company | Option | Shares under the options | Value of those shares |
|---|---|---|---|
| iShares Trust | Calls | 220.1K | $1.76 billion |
| iShares Trust | Puts | 196.5K | $1.57 billion |
| SPDR Gold Trust | Puts | 12.9K | $477.1 million |
| iShares Trust | Calls | 13.8K | $414.7 million |
| iShares Trust | Puts | 13.8K | $414.7 million |
| Tesla Inc. | Calls | 4.7K | $198.7 million |
| Tesla Inc. | Puts | 2.0K | $85.2 million |
| SPDR Gold Trust | Calls | 2.2K | $81.0 million |
| Caesars Entertainment Inc. Ne | Calls | 10.0K | $30.2 million |
| Space Exploration Techn Corp. | Puts | 1.3K | $21.6 million |
| Space Exploration Techn Corp. | Calls | 735 | $12.6 million |
| PDD Holdings Inc. | Calls | 193 | $1.5 million |
| PDD Holdings Inc. | Puts | 193 | $1.5 million |
13 option lines. A 13F lists calls and puts by the shares they cover and what those shares were worth at the quarter's end, not what the options cost; they are not counted in the holdings above.