# Bracebridge Capital, LLC

> Institutional holdings reported to the SEC as of Q2 2026 on Form 13F. CIK 1426486. Source: https://holderbook.com/funds/1426486-bracebridge-capital-llc/

- Reported value: $5.5B
- Positions: 40
- Weight of the ten largest: 96.3%
- Filed: 2026-08-14

A 13F reports long US equity positions only. Short positions, bonds, foreign listings, private holdings and cash are not visible, so this is not the manager's whole book.

## Holdings

| Security | Ticker | Value | Shares | Weight | Quarters held |
|---|---|---|---|---|---|
| ISHARES TR | [HYG](https://holderbook.com/stocks/HYG/) | $1.8B | 0 | 31.8% | 1 |
| ISHARES TR | [HYG](https://holderbook.com/stocks/HYG/) | $1.6B | 0 | 28.4% | 8 |
| SPDR GOLD TR | [GLD](https://holderbook.com/stocks/GLD/) | $477.1M | 0 | 8.6% | 3 |
| ISHARES TR | [IWM](https://holderbook.com/stocks/IWM/) | $414.7M | 0 | 7.5% | 6 |
| ISHARES TR | [IWM](https://holderbook.com/stocks/IWM/) | $414.7M | 0 | 7.5% | 1 |
| SPDR GOLD TR | [GLD](https://holderbook.com/stocks/GLD/) | $233.4M | 633,450 | 4.2% | 3 |
| TESLA INC | [TSLA](https://holderbook.com/stocks/TSLA/) | $198.7M | 0 | 3.6% | 3 |
| UNITI GROUP LLC | [UNIT](https://holderbook.com/stocks/UNIT/) | $92.0M | 8,023,590 | 1.7% | 4 |
| TESLA INC | [TSLA](https://holderbook.com/stocks/TSLA/) | $85.2M | 0 | 1.5% | 2 |
| SPDR GOLD TR | [GLD](https://holderbook.com/stocks/GLD/) | $81.0M | 0 | 1.5% | 3 |
| CAESARS ENTERTAINMENT INC NE | [CZR](https://holderbook.com/stocks/CZR/) | $30.2M | 0 | 0.5% | 1 |
| CAESARS ENTERTAINMENT INC NE | [CZR](https://holderbook.com/stocks/CZR/) | $28.6M | 946,556 | 0.5% | 1 |
| SPACE EXPLORATION TECHN CORP | [SPCX](https://holderbook.com/stocks/SPCX/) | $21.6M | 0 | 0.4% | 1 |
| ADT INC DEL | [ADT](https://holderbook.com/stocks/ADT/) | $20.3M | 3,126,000 | 0.4% | 10 |
| SERVICE PPTYS TR | [SVC](https://holderbook.com/stocks/SVC/) | $19.1M | 11,330,218 | 0.3% | 1 |
| FORWARD AIR CORP | [FWRD](https://holderbook.com/stocks/FWRD/) | $19.0M | 1,404,913 | 0.3% | 1 |
| ALVOTECH | [ALVO](https://holderbook.com/stocks/ALVO/) | $14.9M | 4,038,637 | 0.3% | 17 |
| SPACE EXPLORATION TECHN CORP | [SPCX](https://holderbook.com/stocks/SPCX/) | $12.6M | 0 | 0.2% | 1 |
| SPACE EXPLORATION TECHN CORP | [SPCX](https://holderbook.com/stocks/SPCX/) | $7.9M | 46,345 | 0.1% | 1 |
| GENWORTH FINL INC | [GNW](https://holderbook.com/stocks/GNW/) | $6.8M | 714,388 | 0.1% | 2 |
| BLACKSTONE MORTGAGE TRUST IN | [BXMT](https://holderbook.com/stocks/BXMT/) | $4.1M | 241,700 | 0.1% | 10 |
| ALGOMA STL GROUP INC | [ASTL](https://holderbook.com/stocks/ASTL/) | $3.7M | 924,931 | 0.1% | 14 |
| OCTAVE SPECIALTY GROUP INC | [OSG](https://holderbook.com/stocks/OSG/) | $3.6M | 579,234 | 0.1% | 27 |
| LIBERTY MEDIA CORP DEL | - | $2.1M | 47,700,000 | 0.0% | 27 |
| AQUESTIVE THERAPEUTICS INC | [AQST](https://holderbook.com/stocks/AQST/) | $1.9M | 459,216 | 0.0% | 27 |
| ATRIUM THERAPEUTICS INC | [RNA](https://holderbook.com/stocks/RNA/) | $1.9M | 139,239 | 0.0% | 2 |
| TPG RE FIN TR INC | [TRTX](https://holderbook.com/stocks/TRTX/) | $1.5M | 182,157 | 0.0% | 6 |
| PDD HOLDINGS INC | [PDD](https://holderbook.com/stocks/PDD/) | $1.5M | 0 | 0.0% | 3 |
| PDD HOLDINGS INC | [PDD](https://holderbook.com/stocks/PDD/) | $1.5M | 0 | 0.0% | 3 |
| PDD HOLDINGS INC | [PDD](https://holderbook.com/stocks/PDD/) | $1.0M | 13,600 | 0.0% | 3 |
| AIRJOULE TECHNOLOGIES CORP | [AIRJW](https://holderbook.com/stocks/AIRJW/) | $65.0K | 50,000 | 0.0% | 10 |
| GENERATION ESSENTIALS GROUP | [TGEWS](https://holderbook.com/stocks/TGEWS/) | $58.5K | 325,000 | 0.0% | 5 |
| CRITICAL METALS CORP | [CRMLW](https://holderbook.com/stocks/CRMLW/) | $44.6K | 12,500 | 0.0% | 10 |
| GCT SEMICONDUCTOR HLDG INC | [GCTSWS](https://holderbook.com/stocks/GCTSWS/) | $36.8K | 75,000 | 0.0% | 9 |
| EAGLE NUCLEAR ENERGY CORP | [NUCLW](https://holderbook.com/stocks/NUCLW/) | $36.2K | 25,000 | 0.0% | 2 |
| BRAND ENGAGEMENT NETWORK INC | [BNAIW](https://holderbook.com/stocks/BNAIW/) | $23.3K | 166,666 | 0.0% | 10 |
| ENVOY MEDICAL INC | [COCHW](https://holderbook.com/stocks/COCHW/) | $13.1K | 262,156 | 0.0% | 11 |
| BLUE GOLD LTD | [BGLWW](https://holderbook.com/stocks/BGLWW/) | $7.2K | 75,000 | 0.0% | 4 |
| CID HOLDCO INC | [DAICW](https://holderbook.com/stocks/DAICW/) | $769 | 62,500 | 0.0% | 5 |
| TEVOGEN BIO HLDGS INC | [TVGNW](https://holderbook.com/stocks/TVGNW/) | $710 | 12,500 | 0.0% | 10 |

## What the disclosed book did

Not the fund's return. This is the change in value of the positions disclosed on Form 13F, had they been left untouched, against SPY over the same quarter ends.

| Quarter | Book | Market | Difference | Priced |
|---|---|---|---|---|
| Q2 2026 | -6.6% | +14.8% | -21.4% | 100% |
| Q1 2026 | +6.0% | -4.6% | +10.6% | 97% |
| Q4 2025 | -2.9% | +2.4% | -5.2% | 98% |
| Q3 2025 | +9.5% | +7.8% | +1.6% | 97% |
| Q2 2025 | +0.7% | +10.5% | -9.7% | 85% |
| Q1 2025 | -6.8% | -4.6% | -2.3% | 99% |
| Q4 2024 | +23.8% | +2.1% | +21.6% | 94% |
| Q3 2024 | +8.0% | +5.4% | +2.5% | 92% |

## Quarter by quarter

| Quarter | Value | Positions |
|---|---|---|
| Q2 2026 | $5.5B | 40 |
| Q1 2026 | $3.7B | 44 |
| Q4 2025 | $3.1B | 38 |
| Q3 2025 | $1.9B | 36 |
| Q2 2025 | $1.9B | 45 |
| Q1 2025 | $1.5B | 38 |
| Q4 2024 | $1.4B | 41 |
| Q3 2024 | $612.8M | 39 |
| Q2 2024 | $552.1M | 39 |
| Q1 2024 | $810.1M | 42 |
| Q4 2023 | $463.8M | 43 |
| Q3 2023 | $629.0M | 50 |