BRIGADE CAPITAL MANAGEMENT, LP Hedge Fund

Location: New York, NY

CIK: 0001421306 · Show all filings

Period: Q4 2025 (← Previous) (Next →)

Filing Date: Feb 13, 2026

Total Value: $331M (77.1% shares, 22.9% debt)

Holdings (20)

GLD SPDR GOLD TR 23.9%

Value $79.26M Shares 200,000 Est. Cost — Unrealized —

— LANTHEUS HLDGS INC 12.9%

Value $42.55M Shares 37,211,000 Est. Cost $1.09 Unrealized —

NBR NABORS INDUSTRIES LTD 11.1%

Value $36.7M Shares 675,879 Est. Cost $50.92 Unrealized -4.3%

SPY SPDR S&P 500 ETF TR 9.3%

Value $30.82M Shares 45,200 Est. Cost — Unrealized —

ORCL ORACLE CORP 8.2%

Value $27.29M Shares 140,000 Est. Cost — Unrealized —

— JAZZ INVESTMENTS I LTD 7.6%

Value $25.26M Shares 18,965,000 Est. Cost $1.19 Unrealized —

IWM ISHARES TR 5.1%

Value $16.99M Shares 69,000 Est. Cost — Unrealized —

LUMN LUMEN TECHNOLOGIES INC 4.3%

Value $14.37M Shares 1,850,000 Est. Cost $3.88 Unrealized +112.4%

NOMD NOMAD FOODS LTD 3.3%

Value $10.95M Shares 875,000 Est. Cost $12.21 Unrealized 0.0%

EXE EXPAND ENERGY CORPORATION 2.6%

Value $8.526M Shares 77,260 Est. Cost $73.53 Unrealized +50.5%

LNTH LANTHEUS HLDGS INC 2.6%

Value $8.492M Shares 127,607 Est. Cost $73.95 Unrealized -21.3%

ECVT ECOVYST INC 2.4%

Value $7.952M Shares 817,255 Est. Cost $8.68 Unrealized +0.5%

DHC DIVERSIFIED HEALTHCARE TR 2.3%

Value $7.76M Shares 1,600,000 Est. Cost $3.72 Unrealized —

— LIBERTY MEDIA CORP DEL 1.3%

Value $4.21M Shares 76,540,000 Est. Cost $0.57 Unrealized —

— JAZZ INVESTMENTS I LTD 1.0%

Value $3.471M Shares 3,000,000 Est. Cost $1.06 Unrealized —

FOA FINANCE OF AMERICA COMPAN 0.6%

Value $1.985M Shares 82,000 Est. Cost $19.32 Unrealized +17.9%

SVC SERVICE PPTYS TR 0.6%

Value $1.978M Shares 1,075,000 Est. Cost $2.58 Unrealized —

FWRD FORWARD AIR CORP 0.6%

Value $1.934M Shares 77,357 Est. Cost $17.76 Unrealized +26.7%

— LIBERTY MEDIA CORP DEL 0.1%

Value $424K Shares 7,700,000 Est. Cost $0.73 Unrealized —

EXEEL EXPAND ENERGY CORPORATION 0.0%

Value $146K Shares 1,468 Est. Cost $85.36 Unrealized —

Ticker	Issuer	Shares	Value	%	Est. Cost	Unrealized	Class	CUSIP
GLD	SPDR GOLD TR	200,000	$79.26M	23.9%	—	—	Call	78463V107
—	LANTHEUS HLDGS INC	37,211,000	$42.55M	12.9%	$1.09	—	NOTE 2.625%12/1	516544AB9
NBR	NABORS INDUSTRIES LTD	675,879	$36.7M	11.1%	$50.92	-4.3%	SHS	G6359F137
SPY	SPDR S&P 500 ETF TR	45,200	$30.82M	9.3%	—	—	Put	78462F103
ORCL	ORACLE CORP	140,000	$27.29M	8.2%	—	—	Put	68389X105
—	JAZZ INVESTMENTS I LTD	18,965,000	$25.26M	7.6%	$1.19	—	NOTE 3.125% 9/1	472145AH4
IWM	ISHARES TR	69,000	$16.99M	5.1%	—	—	Put	464287655
LUMN	LUMEN TECHNOLOGIES INC	1,850,000	$14.37M	4.3%	$3.88	+112.4%	COM	550241103
NOMD	NOMAD FOODS LTD	875,000	$10.95M	3.3%	$12.21	0.0%	USD ORD SHS	G6564A105
EXE	EXPAND ENERGY CORPORATION	77,260	$8.526M	2.6%	$73.53	+50.5%	COM	165167735
LNTH	LANTHEUS HLDGS INC	127,607	$8.492M	2.6%	$73.95	-21.3%	COM	516544103
ECVT	ECOVYST INC	817,255	$7.952M	2.4%	$8.68	+0.5%	COM	27923Q109
DHC	DIVERSIFIED HEALTHCARE TR	1,600,000	$7.76M	2.3%	$3.72	—	COM SH BEN INT	25525P107
—	LIBERTY MEDIA CORP DEL	76,540,000	$4.21M	1.3%	$0.57	—	DEB 3.750% 2/1	530715AL5
—	JAZZ INVESTMENTS I LTD	3,000,000	$3.471M	1.0%	$1.06	—	NOTE 2.000% 6/1	472145AF8
FOA	FINANCE OF AMERICA COMPAN	82,000	$1.985M	0.6%	$19.32	+17.9%	CL A NEW	31738L206
SVC	SERVICE PPTYS TR	1,075,000	$1.978M	0.6%	$2.58	—	COM SH BEN INT	81761L102
FWRD	FORWARD AIR CORP	77,357	$1.934M	0.6%	$17.76	+26.7%	COM	34986A104
—	LIBERTY MEDIA CORP DEL	7,700,000	$424K	0.1%	$0.73	—	DEB 4.000%11/1	530715AG6
EXEEL	EXPAND ENERGY CORPORATION	1,468	$146K	0.0%	$85.36	—	*W EXP 02/09/202	165167180