Bracebridge Capital, LLC

CIK

1426486

Location

BOSTON, MA

Portfolio Value

Small $550,890,843

Diversification

Highly concentrated

Filing Date

Global Rank

#2,179 / 8,232 ▲ 1352

Top Industry

REIT - Specialty 51.6%

3Y Alpha vs SPY

-1.4%

Period ended 2 months ago

Filed May 15, 2026 · 30d

25 quarters · since Mar 2020

Clone Performance

Jun 2023–Jun 2026 · vs SPY

Hypothetical growth of cloning every reported 13F position and rebalancing on each filing, indexed to the same start.

Cloned portfolio

+70.1%

SPY

+76.3%

Annualised alpha

-1.4%

Max drawdown

−31.0%

Estimate. 13F holdings are quarter-lagged and long-only, so the clone rebalances about 45 days after each period end — when the filing becomes public — and excludes options and short positions. Past performance does not predict future results.

Portfolio Concentration

16 positions · as of Mar 31, 2026 · Δ vs Dec 31, 2025

Top Position

74.5%

+14.4 pts

Top 5

94.5%

+2.2 pts

Top 10

98.1%

−0.9 pts

HHI

5,740

Highly concentrated+1,704

Portfolio Trend

25 quarters · across all stocks

Sector Breakdown

As of Mar 31, 2026

Sector	% Portfolio	Value	Positions
Unclassified	74.5%	$410,260,000	1
Real Estate	14.3%	$78,684,902	3
Consumer Cyclical	2.9%	$15,832,238	2
Industrials	2.5%	$13,967,820	1
Healthcare	2.4%	$13,046,563	3
Financial Services	1.5%	$8,494,268	2
Communication Services	1.2%	$6,785,087	3
Basic Materials	0.7%	$3,819,965	1

Last Quarter's Activity

Export CSV

Mar 31, 2026 vs Dec 31, 2025

Added To

Positions the filer increased

3 positions

Ticker	Company	Δ Shares	Shares	Value
UNIT	Uniti Group Inc.	+801,690	7,743,465	$72,633,701
GLD	Spdr Gold Trust	+554,750	953,450	$410,260,000
PDD	PDD Holdings Inc.	+2,600	11,600	$1,185,288
No positions match the current search.

Trimmed

Positions the filer reduced

1 positions

Ticker	Company	Δ Shares	Shares	Value	Open
OPTU	Optimum Communications, Inc.	−1,365,100	1,765,918	$2,295,693
No positions match the current search.

New Positions

Positions the filer opened this quarter

4 positions

Ticker	Company	Shares	Value
TSLA	Tesla, Inc.	39,400	$14,646,950
GNW	Genworth Financial Inc	714,388	$5,800,830
AMC	Amc Entertainment Holdings, Inc.	2,751,699	$2,696,665
RNA	Atrium Therapeutics, Inc.	139,239	$1,861,625
No positions match the current search.

Sold Out

Positions the filer fully exited

No qualifying positions this quarter.

Portfolio Positions

Compact Export CSV View 13F filing

16 positions · $550,890,843 total · as of Mar 31, 2026

All sectors Basic Materials Communication Services Consumer Cyclical Financial Services Healthcare Industrials Real Estate

Ticker	Company	Type	Shares	Δ Shares	Value (USD)	% Δ Value	% of Portfolio
PDD	PDD Holdings Inc. Consumer Cyclical	Added	11,600	+2,600	$1,185,288	+16.1%	0.22%
TRTX	TPG RE Finance Trust, Inc. Real Estate	Held	182,157	0	$1,422,646	−9.3%	0.26%
CCO	Clear Channel Outdoor Holdings, Inc. Communication Services	Held	756,426	0	$1,792,729	+7.2%	0.33%
RNA	Atrium Therapeutics, Inc. Healthcare	NEW	139,239	NEW	$1,861,625	NEW	0.34%
AQST	Aquestive Therapeutics, Inc. Healthcare	Held	459,216	0	$1,905,746	−35.8%	0.35%
OPTU	Optimum Communications, Inc. Communication Services	Reduced	1,765,918	-1,365,100	$2,295,693	−55.6%	0.42%
OSG	Octave Specialty Group Inc Financial Services	Held	579,234	0	$2,693,438	−40.2%	0.49%
AMC	Amc Entertainment Holdings, Inc. Communication Services	NEW	2,751,699	NEW	$2,696,665	NEW	0.49%
ASTL	Algoma Steel Group Inc. Basic Materials	Held	924,931	0	$3,819,965	+0.7%	0.69%
BXMT	Blackstone Mortgage Trust, Inc. Real Estate	Held	241,700	0	$4,628,555	+0.1%	0.84%
GNW	Genworth Financial Inc Financial Services	NEW	714,388	NEW	$5,800,830	NEW	1.05%
ALVO	Alvotech Healthcare	Held	2,705,304	0	$9,279,192	−33.1%	1.68%
ADT	ADT Inc. Industrials	Held	2,126,000	0	$13,967,820	−18.6%	2.54%
TSLA	Tesla, Inc. Consumer Cyclical	NEW	39,400	NEW	$14,646,950	NEW	2.66%
UNIT	Uniti Group Inc. Real Estate	Added	7,743,465	+801,690	$72,633,701	+49.3%	13.18%
GLD	Spdr Gold Trust	Added	953,450	+554,750	$410,260,000	+159.6%	74.47%