Brigade Capital Management, LP
Brigade Capital Management, LP reported 9 US-listed holdings worth $86.1 million in its 13F for the quarter ended 30 June 2026, filed 14 August 2026. Its largest: Lantheus Holdings, Inc. (42.4%), Expand Energy Corp. (11.2%) and Vistra Corp. (9.4%). Against the quarter before, it opened 4 positions, added to 2, trimmed 2 and sold out of 3.
The 9 largest of its 9 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 +41.9% 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
- Vistra Corp. VST$8.1 million
- Lumexa Imaging Holdings Inc. LMRI$7.5 million
- United Airlines Holdings, Inc. UAL$7.3 million
- Embecta Corp EMBC$4.9 million
Added to 2
- Finance of America Compan FOA+123,476 shares · +79%
- Expand Energy Corp. EXE+28,751 shares · +37%
Trimmed 2
- Lumen Technologies, Inc. LUMN-1.3 million shares · -70%
- Lantheus Holdings, Inc. LNTH-35,000 shares · -10%
Sold out of 3
- Ecovyst Inc. ECVT$10.5 million last quarter
- SPDR S&P 500 SPY$9.8 million last quarter
- Nomad Foods Limited NOMD$8.4 million last quarter
What it holds
| Company | Shares | Value | Of its book | Change in shares |
|---|---|---|---|---|
| Lantheus Holdings, Inc. LNTH | 328.7K | $36.5 million | 42.36% | -35.0K |
| Expand Energy Corp. EXE | 105.9K | $9.6 million | 11.20% | +28.8K |
| Vistra Corp. VST | 51.2K | $8.1 million | 9.43% | new |
| Finance of America Compan FOA | 280.5K | $7.7 million | 8.96% | +123.5K |
| Lumexa Imaging Holdings Inc. LMRI | 665.9K | $7.5 million | 8.72% | new |
| United Airlines Holdings, Inc. UAL | 53.9K | $7.3 million | 8.50% | new |
| Embecta Corp EMBC | 1.5M | $4.9 million | 5.74% | new |
| Lumen Technologies, Inc. LUMN | 550.0K | $4.2 million | 4.90% | -1.3M |
| Century Casinos Inc. CNTY | 117.5K | $150,463 | 0.17% | no change |
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Change is shares against its 13F for the quarter before; the 3 it sold out of are in the box above.Options it reported
| Company | Option | Shares under the options | Value of those shares |
|---|---|---|---|
| iShares Trust TLT | Puts | 3.0M | $259.3 million |
| iShares Russell 2000 ETF IWM | Puts | 300.0K | $90.1 million |
| iShares Trust HYG | Puts | 400.0K | $32.0 million |
3 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.