SEC 13F Intelligence

Managers / Q2 2023 · view latest →

BRIGADE CAPITAL MANAGEMENT, LP

CIK 0001421306 · 399 PARK AVENUE, 16TH FLOOR, NEW YORK, NY, 10022 · 212-745-9717

Reported Value
$221M
Q2 2023
Positions
23
Filings on Record
30
2019–present window
Filed
Aug 14, 2023
original filing

Summary

Brigade Capital Management, LP reported $221M in U.S.-listed holdings across 23 positions for Q2 2023.

Its largest position, Western Asset Mortgage Capit, represents 11.1% of the portfolio.

Compared with Q1 2023, the fund opened 2 new positions and exited 8.

Portfolio Metrics

Turnover
+3.8%
vs prior filed quarter
Top-10 Concentration
+44.8%
share of reported value
Largest Position
+11.1%
Western Asset Mortgage Capit
New / Exited
2 / 8
positions this quarter

Methodology: turnover is min(value bought, value sold) ÷ average reported value across the two quarters — value-based, so market moves inflate it slightly versus a share-based measure. Concentration and largest position are shares of the filing’s total reported value, options excluded. New/exited counts compare against the prior filed quarter. All figures derive solely from the fund’s 13F filings.

Reported Value by Quarter

13F Reported Value
Q4 ’18: $3.0BQ4 ’18Q1 ’19: $1.6BQ2 ’19: $2.0BQ3 ’19: $1.9BQ4 ’19: $1.3BQ4 ’19Q1 ’20: $2.2BQ2 ’20: $2.4BQ3 ’20: $2.4BQ4 ’20: $1.7BQ4 ’20Q1 ’21: $1.4BQ2 ’21: $1.7BQ3 ’21: $1.2BQ4 ’21: $874MQ4 ’21Q1 ’22: $751MQ2 ’22: $892MQ3 ’22: $989MQ4 ’22: $356MQ4 ’22Q1 ’23: $919MQ2 ’23: $221MQ3 ’23: $458MQ4 ’23: $2.8BQ4 ’23Q1 ’24: $466MQ2 ’24: $438MQ3 ’24: $459MQ4 ’24: $331MQ4 ’24Q1 ’25: $798MQ2 ’25: $436MQ3 ’25: $815MQ4 ’25: $331MQ4 ’25Q1 ’26: $806Mfilingsflow.com

Portfolio Composition

By security type
ETP: 48.9%US DOMESTIC: 27.4%Common Stock: 20.3%Other: 1.9%ADR: 1.4%
  • ETP · 48.9% · $108M
  • US DOMESTIC · 27.4% · $61M
  • Common Stock · 20.3% · $45M
  • Other · 1.9% · $4M
  • ADR · 1.4% · $3M

Quarter-over-Quarter Changes full breakdown →

vs Q1 2023 (amended baseline)

IssuerMoveShare ΔShares nowValue ΔValue now
WEWORK INCNEW+16.80M16.80M+$4M$4M
PGT INNOVATIONS INCNEW+46.0K46.0K+$1M$1M
MELCO RESORTS AND ENTMNT LTDADDED+155.0K257.0K+$2M$3M
ISHARES TRSOLD OUT−3.00M0−$319M$0
ISHARES TRSOLD OUT−1.13M0−$202M$0
VALARIS LIMITEDSOLD OUT−214.0K0−$14M$0
INTERNATIONAL GAME TECHNOLOGSOLD OUT−105.0K0−$3M$0
NDQINVESCO QQQ TRSOLD OUT−4.0K0−$1M$0

Value changes conflate price moves with buying and selling — share changes are the real signal. Share counts are not split-adjusted.

Holdings — Q2 2023

14 positions
Export to Excel
#IssuerClass% PortfolioValue ↓Shares
1LIBERTY MEDIA CORP DELDEB 3.750% 2/1 · DEB 4.000%11/111.94%$26M111.97M
2WESTERN ASSET MORTGAGE CAPITNOTE 6.750% 9/111.11%$25M28.52M
3AGSPLAYAGS INChistory →COM4.82%$11M1.89M
4CCOCLEAR CHANNEL OUTDOOR HLDGShistory →COM4.56%$10M7.37M
5ECVTECOVYST INChistory →COM4.11%$9M793.0K
6VISNCOMMSCOPE HLDG CO INChistory →COM3.97%$9M1.56M
7LIBERTY LATIN AMERICA LTDNOTE 2.000% 7/12.56%$6M6.00M
8WEWORK INCCL A1.90%$4M16.80M
9TWO HARBORS INVENTMENT CORPONOTE 6.250% 1/11.83%$4M4.55M
10MELCO RESORTS AND ENTMNT LTDADR1.42%$3M257.0K
11QVCAUSDQURATE RETAIL INChistory →COM SER A1.32%$3M2.92M
12IHRTIHEARTMEDIA INCCOM CL A0.61%$1M368.8K
13SA2DSANDRIDGE ENERGY INCCOM NEW0.34%$745,45148.9K
14VISTRA CORP*W EXP 02/02/2020.00%$1,70528.4K

Filing History

QuarterReported ValuePositionsFiledTypeLinks
Q1 2026$806M23May 15, 202613F-HRchanges · EDGAR ↗
Q4 2025$331M29Feb 13, 202613F-HRchanges · EDGAR ↗
Q3 2025$815M33Nov 14, 202513F-HRchanges · EDGAR ↗
Q2 2025$436M24Aug 14, 202513F-HRchanges · EDGAR ↗
Q1 2025$798M24May 15, 202513F-HRchanges · EDGAR ↗
Q4 2024$331M20Feb 14, 202513F-HRchanges · EDGAR ↗
Q3 2024$459M20Nov 14, 202413F-HRchanges · EDGAR ↗
Q2 2024$438M22Aug 14, 202413F-HRchanges · EDGAR ↗
Q1 2024$466M23May 14, 202413F-HRchanges · EDGAR ↗
Q4 2023$2.8B38Feb 14, 202413F-HRchanges · EDGAR ↗
Q3 2023$458M28Nov 14, 202313F-HRchanges · EDGAR ↗
Q2 2023$221M23Aug 14, 202313F-HRchanges · EDGAR ↗
Q1 2023$919M29May 15, 202313F-HRchanges · EDGAR ↗
Q4 2022$356M28Feb 14, 202313F-HRchanges · EDGAR ↗
Q3 2022$989M58Nov 14, 202213F-HRchanges · EDGAR ↗
Q2 2022$892M55Aug 15, 202213F-HRchanges · EDGAR ↗
Q1 2022$751M74May 16, 202213F-HRchanges · EDGAR ↗
Q4 2021$874M90Feb 14, 202213F-HRchanges · EDGAR ↗
Q3 2021$1.2B78Nov 15, 202113F-HRchanges · EDGAR ↗
Q2 2021$1.7B91Aug 16, 202113F-HRchanges · EDGAR ↗
Q1 2021$1.4B95May 14, 202113F-HRchanges · EDGAR ↗
Q4 2020$1.7B86Feb 16, 202113F-HRchanges · EDGAR ↗
Q3 2020$2.4B88Nov 16, 202013F-HRchanges · EDGAR ↗
Q2 2020$2.4B91Aug 14, 202013F-HRchanges · EDGAR ↗
Q1 2020$2.2B86May 15, 202013F-HRchanges · EDGAR ↗
Q4 2019$1.3B92Feb 14, 202013F-HRchanges · EDGAR ↗
Q3 2019$1.9B97Nov 14, 201913F-HRchanges · EDGAR ↗
Q2 2019$2.0B97Aug 14, 201913F-HRchanges · EDGAR ↗
Q1 2019$1.6B96May 15, 201913F-HRchanges · EDGAR ↗
Q4 2018$3.0B123Feb 14, 201913F-HRchanges · EDGAR ↗

Other Included Managers

This filing reports holdings on behalf of 1 additional manager.

  • SEI INVESTMENTS MANAGEMENT CORP028-16475

13F filings are due up to 45 days after quarter end, so holdings shown here lag the fund’s current book. Source: original SEC filing on EDGAR ↗.