Bracebridge Capital, LLC
Sector Allocation
- Financials52.7%$243.7M
- Communication Services19.9%$92.1M
- Industrials8.5%$39.3M
- Consumer Discretionary6.4%$29.6M
- Real Estate5.4%$24.8M
- Healthcare4.0%$18.7M
- Technology1.7%$7.9M
- Materials0.8%$3.8M
- Other0.5%$2.3M
AUM History
13fpro.ai/research/fund/bracebridge-capital-llc-1426486
Conviction and streaks
Stable · top 10 = 96.5%From the fund's last 12 quarters of 13F filings: positions held longest at size, and names it added to or trimmed several quarters running.
Largest positions — Q2 2026
GLD
$233.4MUNIT
$92.0MCZR
$28.6MADT
$20.3MSVC
$19.1MFWRD
$19.0MALVO
$14.9M
SPCX$7.9MGNW
$6.8MBXMT
$4.1MASTL
$3.7MOSG
$3.6M- LIBERTY$2.1M
AQST
$1.9MRNA.R1599901
$1.9MTRTX
$1.5MPDD
$1.0M- AIRJOULE$65K
TGE
$59KCRML
$45K
Top 20 stock positions. Options are left out: 13F reports them at the underlying's value.
13fpro.ai/research/fund/bracebridge-capital-llc-1426486
Bracebridge Capital, LLC 13F holdings — Q2 2026
$5.5B portfolio (+48.4% QoQ) · 40 holdings · Q2 2026 13F · top 10 are 97% of the stock portfolio
Includes $5.1B of put/call options ($2.6B puts, $2.5B calls), which 13F rules report at the value of the underlying shares, not the premium at risk. Stocks alone: $462.2M. Weights use the stock portfolio.
$233.4M
50.5% of stocks
-34%This quarter-8.4%Since filed3 qtrsHeld$92.0M
19.9% of stocks
+4%This quarter-51.5%Since filed9 qtrsHeld$28.6M
6.2% of stocks
NewThis quarter-2.5%Since filedNew this quarterHeld$20.3M
4.4% of stocks
+47%This quarter-8.1%Since filed10+ qtrsHeld$19.1M
4.1% of stocks
NewThis quarter-23.5%Since filedNew this quarterHeld$19.0M
4.1% of stocks
NewThis quarter-20.5%Since filedNew this quarterHeld$14.9M
3.2% of stocks
+49%This quarter+13.9%Since filed10+ qtrsHeld$7.9M
1.7% of stocks
NewThis quarter+4.9%Since filedNew this quarterHeld$6.8M
1.5% of stocks
No changeThis quarter-12.8%Since filed2 qtrsHeld$4.1M
0.9% of stocks
No changeThis quarter-26.7%Since filed10+ qtrsHeld
All holdings — Bracebridge Capital, LLC (Q2 2026)
40 disclosed positions from the Form 13F-HR on SEC EDGAR, with quarter-over-quarter share changes. Largest by value first; the ten above are not repeated.
| # | Company | Held | Source | |||||||
|---|---|---|---|---|---|---|---|---|---|---|
| 11 | — CALL | ISHARES TR - CALL | — | $1.8B | — | 220K | New | — | — | 13F |
| 12 | — PUT | ISHARES TR - PUT | — | $1.6B | — | 197K | +628% | — | — | 13F |
| 13 | SPDR GOLD TRUST | Financials | $477.1M | — | 13K | +31% | — | — | 13F | |
| 14 | — CALL | ISHARES TR - CALL | — | $414.7M | — | 14K | +65% | — | — | 13F |
| 15 | — PUT | ISHARES TR - PUT | — | $414.7M | — | 14K | New | — | — | 13F |
| 16 | Tesla, Inc. | Consumer Discretionary | $198.7M | — | 4,725 | +232% | — | — | 13F | |
| 17 | Tesla, Inc. | Consumer Discretionary | $85.2M | — | 2,025 | +42% | — | — | 13F | |
| 18 | SPDR GOLD TRUST | Financials | $81.0M | — | 2,200 | +10% | — | — | 13F | |
| 19 | — CALL | CAESARS ENTERTAINMENT INC NE - CALL | — | $30.2M | — | 10K | New | — | — | 13F |
| 20 | — PUT | SPACE EXPLORATION TECHN CORP - PUT | — | $21.6M | — | 1,265 | New | — | — | 13F |
| 21 | — CALL | SPACE EXPLORATION TECHN CORP - CALL | — | $12.6M | — | 735 | New | — | — | 13F |
| 22 | Algoma Steel Group Inc. | Materials | $3.7M | 0.8% | 925K | — | 10+ qtrs | AI quality score is Pro: unlock with a free trial | 13F | |
| 23 | OCTAVE SPECIALTY GROUP INC | Financials | $3.6M | 0.8% | 579K | — | 10+ qtrs | AI quality score is Pro: unlock with a free trial | 13F | |
| 24 | — | LIBERTY MEDIA CORP DEL - DEB | — | $2.1M | 0.5% | 47.70M | — | — | — | 13F |
| 25 | Aquestive Therapeutics, Inc. | Healthcare | $1.9M | 0.4% | 459K | — | 10+ qtrs | AI quality score is Pro: unlock with a free trial | 13F | |
| 26 | $RNA.R1599901 | Avidity Biosciences, Inc. | Healthcare | $1.9M | 0.4% | 139K | — | |||
| 27 | $TRTX | TPG RE Finance Trust, Inc. | Real Estate | $1.5M | 0.3% | 182K | — | |||
| 28 | $PDD CALL | PDD Holdings Inc. | Consumer Discretionary | $1.5M | — | 193 | — | |||
| 29 | $PDD PUT | PDD Holdings Inc. | Consumer Discretionary | $1.5M | — | 193 | — | |||
| 30 | $PDD | PDD Holdings Inc. | Consumer Discretionary | $1.0M | 0.2% | 14K | +17% | |||
| 31 | — | AIRJOULE TECHNOLOGIES CORP - W EXP 03/15/202 | — | $65K | 0.0% | 50K | — | |||
| 32 | $TGE | Generation Essentials Group | Communication Services | $59K | 0.0% | 325K | — | |||
| 33 | $CRML | Critical Metals Corp. | Materials | $45K | 0.0% | 13K | — | |||
| 34 | — | GCT SEMICONDUCTOR HLDG INC - W EXP 03/01/202 | — | $37K | 0.0% | 75K | — | |||
| 35 | — | EAGLE NUCLEAR ENERGY CORP - W EXP 02/25/203 | — | $36K | 0.0% | 25K | — | |||
| 36 | — | BRAND ENGAGEMENT NETWORK INC - W EXP 03/14/202 | — | $23K | 0.0% | 167K | — | |||
| 37 | $COCH | Envoy Medical, Inc. | Healthcare | $13K | 0.0% | 262K | — | |||
| 38 | $BGL | Blue Gold Ltd | Materials | $7K | 0.0% | 75K | — | |||
| 39 | $DAIC | CID Holdco, Inc. | Technology | $769 | 0.0% | 63K | — | |||
| 40 | — | TEVOGEN BIO HLDGS INC - W EXP 02/14/202 | — | $710 | 0.0% | 13K | — |
What changed in Q2 2026
Against the previous quarter's 13F: 9 new, 10 added to, 1 trimmed, 13 sold out. Share-count changes; largest moves by dollar size first.
New positions (9)
- CALLISHARES TR - CALL$1.8B
first bought this quarter
- PUTISHARES TR - PUT$414.7M
first bought this quarter
- CALLCAESARS ENTERTAINMENT INC NE - CALL$30.2M
first bought this quarter
first bought this quarter
- PUTSPACE EXPLORATION TECHN CORP - PUT$21.6M
first bought this quarter
first bought this quarter
+3 more in the Excel export
Added to (10)
- PUTISHARES TR - PUT+628%
now $1.6B
$TSLACALLTesla, Inc.+232%
now $198.7M
now $477.1M
now $85.2M
now $81.0M
now $20.3M · held 10+ qtrs
+4 more in the Excel export
Trimmed (1)
now $233.4M · held 3 qtrs
Holdings by quarter
Every 13F Bracebridge Capital, LLC has filed, 26 earlier quarters. Pick one to see what it held then.
Is it too late to follow Bracebridge Capital?
Q2 2026 13F filed with the SEC on Aug 14, 2026. Prices are closing prices as of Oct 26, 2026.
Average quality of Bracebridge Capital's top 20 holdings: 56/100 (our AI quality score, weighted by position size; 10 of the 20 are scored)
Top 10 since filing
-17.3%
Value-weighted move of the 10 largest stock positions
Turnover
18%
Last quarter; 106% over the last 4
Top 10 weight
97%
Share of the stock portfolio in its 10 largest positions
Held 4+ quarters
31%
Share of portfolio value in positions held a year or more
Highest-quality names it owns(among its 100 largest positions)
The 8 highest-scoring companies in this portfolio are a Pro feature.
How these are measured
- Moves since the quarter-end and since the filing date use our own daily closing prices, from the close on (or just before) each date to the latest close.
- Turnover is the lesser of shares bought or sold in a quarter, valued at the quarter-end prices in the 13F, divided by the average of the two quarters' stock portfolio values.
- Quarters held and add/trim streaks count back only through quarters whose filed holdings add up to the filing's own cover-page total (back to Q1 2024 for this fund). A change counts as an add or a trim when the split-adjusted share count moves by more than 1%.
- Estimate, not the fund's reported cost. For each quarter in the current holding period in which the fund's share count rose (split-adjusted), we take that quarter's average daily close and weight it by the shares added; sales do not change an average cost. Quarters where the stock's price history and the 13F's own implied price disagree by more than 2x are left out.
- Put and call option rows report the value of the underlying shares, not a position the fund paid for, so they are left out of all of the above.
Portfolio Overview
Bracebridge Capital, LLC disclosed 40 positions worth $5.5B in its Form 13F-HR for Q2 2026 — $462.2M in common stock plus $5.1B of put/call option positions (reported at underlying notional value, not premium at risk), led by $GLD (SPDR GOLD TRUST) at 50.5% of the equity portfolio, followed by $UNIT and $CZR. During the quarter the fund opened 9 new positions and exited 13. The portfolio is most concentrated in Financials (52.7% of disclosed assets). All figures are sourced directly from Bracebridge Capital, LLC’s Form 13F-HR filing with the SEC under CIK 1426486.
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AI-Powered Hedge Fund Analysis: Bracebridge Capital, LLC
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