Q4 2025 · 13F-HR
BRIGADE CAPITAL MANAGEMENT, LPholdings as filed
Filed 2026-02-13 · accession 0000919574-26-000948
$331.1M
Reported value
20
Positions
2025-12-31
Period end
The Brief · BRIGADE CAPITAL MANAGEMENT, LP · Q4 2025
AI · grounded in 13F
BRIGADE CAPITAL MANAGEMENT, LP closed its position in LQD, reducing exposure by $222.9M. The fund also exited its position in TLT for $154.2M and trimmed its holding in GLD by 55.6%. Offsetting these sales, the fund established new positions in SPY for $30.8M and ORCL for $27.3M. Additionally, it opened a new position in NOMAD FOODS LTD valued at $10.9M.
Holdings as filed
| CUSIP | Ticker | Issuer | Value | % port. | Shares | Class | Voting |
|---|---|---|---|---|---|---|---|
| 78463V107 | GLD | SPDR GOLD TR | $79.3M | 23.9% | 200,000 | CALL | SOLE |
| 516544AB9 | LNTH 2.625 12/15/27 | LANTHEUS HLDGS INC | $42.5M | 12.9% | 37,211,000 | Common | SOLE |
| G6359F137 | NBR | NABORS INDUSTRIES LTD | $36.7M | 11.1% | 675,879 | Common | SOLE |
| 78462F103 | SPY | SPDR S&P 500 ETF TR | $30.8M | 9.31% | 45,200 | PUT | SOLE |
| 68389X105 | ORCL | ORACLE CORP | $27.3M | 8.24% | 140,000 | PUT | SOLE |
| 472145AH4 | JAZZ 3.125 09/15/30 | JAZZ INVESTMENTS I LTD | $25.3M | 7.63% | 18,965,000 | Common | SOLE |
| 464287655 | IWM | ISHARES TR | $17.0M | 5.13% | 69,000 | PUT | SOLE |
| 550241103 | LUMN | LUMEN TECHNOLOGIES INC | $14.4M | 4.34% | 1,850,000 | Common | SOLE |
| G6564A105 | NOMD | NOMAD FOODS LTD | $10.9M | 3.31% | 875,000 | Common | SOLE |
| 165167735 | EXE | EXPAND ENERGY CORPORATION | $8.5M | 2.58% | 77,260 | Common | SOLE |
| 516544103 | LNTH | LANTHEUS HLDGS INC | $8.5M | 2.57% | 127,607 | Common | SOLE |
| 27923Q109 | ECVT | ECOVYST INC | $8.0M | 2.40% | 817,255 | Common | SOLE |
| 25525P107 | DHC | DIVERSIFIED HEALTHCARE TR | $7.8M | 2.34% | 1,600,000 | Common | SOLE |
| 530715AL5 | LINTA 3.75 02/15/30 | LIBERTY MEDIA CORP DEL | $4.2M | 1.27% | 76,540,000 | Common | SOLE |
| 472145AF8 | JAZZ 2 06/15/26 | JAZZ INVESTMENTS I LTD | $3.5M | 1.05% | 3,000,000 | Common | SOLE |
| 31738L206 | FOA | FINANCE OF AMERICA COMPAN | $2.0M | 0.60% | 82,000 | Common | SOLE |
| 81761L102 | SVC | SERVICE PPTYS TR | $2.0M | 0.60% | 1,075,000 | Common | SOLE |
| 34986A104 | FWRD | FORWARD AIR CORP | $1.9M | 0.58% | 77,357 | Common | SOLE |
| 530715AG6 | LINTA 4 11/15/29 | LIBERTY MEDIA CORP DEL | $423,500 | 0.13% | 7,700,000 | Common | SOLE |
| 165167180 | EXEEL | EXPAND ENERGY CORPORATION | $146,316 | 0.04% | 1,468 | Common | SOLE |
Source: SEC EDGAR · raw 13F holdings as filed. The Class column shows the option type when reported (Put/Call) or Common when the issuer's equity is held directly. 13F discloses long positions only.