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Bracebridge Capital, LLC

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13F filer, CIK 1426486, BOSTON, MA

Bracebridge Capital, LLC reported $1,477,491,017 across 38 holdings for the quarter ended 2025-03-31, in a 13F-HR filed 2025-05-15. Its ten largest share positions make up 89.64% of the portfolio.

Filed (acceptance time not in the bulk data set), ingested 13F-HR 0001426486-25-000004

Period
2025-03-31
Reported value
$1.48B
Holdings
38
Top 10 weight
89.64%
New
9
Sold out
12

Largest buys vs the previous quarter

SecurityShares changeApprox. value
NVDAnew+116,719$12.7M
QQQnew+6,810$3.19M
GNWadded+220,000$1.56M
OPTUadded+535,463$1.42M
TRTXnew+143,100$1.17M

Ranked by the share change valued at this quarter's implied price (value over shares in the 13F). A position sold out is valued at the previous quarter's price, its last report.

Largest sells vs the previous quarter

SecurityShares changeApprox. value
FBTCexited-3,968,000-$324M
IVVexited-449,850-$265M
RSPexited-1,426,700-$250M
IBITexited-200,000-$10.6M
ARKKexited-143,000-$8.12M

Ranked by the share change valued at this quarter's implied price (value over shares in the 13F). A position sold out is valued at the previous quarter's price, its last report.

Holdings, Q1 2025

Share positions as resolved from 13F-HR 0001426486-25-000004, largest first. % of portfolio is the value over $158,160,047, the sum of the share positions whose value is usable for ratios (method).

SecurityHistorySharesValue% of portfolioChangeLatest eventTimeline
ALVOALVOTECHQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q2: restricted; 2023Q3: restricted; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 2,705,304 shares; 2024Q4: 2,705,304 shares; 2025Q1: 2,705,304 shares 2,705,304$26.2M16.54%0Timeline
OPTUOPTIMUM COMMUNICATIONS INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q2: restricted; 2023Q3: restricted; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 6,532,640 shares; 2024Q4: 8,854,977 shares; 2025Q1: 9,390,440 shares 9,390,440$25M15.79%+535,463Timeline
ADTADT INC DELQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q2: restricted; 2023Q3: restricted; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 1,626,000 shares; 2024Q4: 2,126,000 shares; 2025Q1: 2,126,000 shares 2,126,000$17.3M10.94%0Timeline
GNWGENWORTH FINL INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q2: restricted; 2023Q3: restricted; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 1,749,200 shares; 2024Q4: 1,749,200 shares; 2025Q1: 1,969,200 shares 1,969,200$14M8.83%+220,000Timeline
NVDANVIDIA CORPORATIONQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q2: restricted; 2023Q3: restricted; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: not reported; 2024Q4: not reported; 2025Q1: 116,719 shares 116,719$12.7M8%newTimeline
UNITI GROUP INCUNITI GROUP INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q2: restricted; 2023Q3: restricted; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 2,432,038 shares; 2024Q4: 2,432,038 shares; 2025Q1: 2,432,038 shares 2,432,038$12.3M7.75%0
BLACK SPADE ACQUISITION II CBLACK SPADE ACQUISITION II CQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q2: restricted; 2023Q3: restricted; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: not reported; 2024Q4: 975,000 shares; 2025Q1: 975,000 shares 975,000$9.86M6.23%0
AAMAA MISSION ACQUISITION COR-AQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q2: restricted; 2023Q3: restricted; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 600,000 shares; 2024Q4: 600,000 shares; 2025Q1: 600,000 shares 600,000$6.26M3.96%0Timeline
OSGOCTAVE SPECIALTY GROUP INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q2: restricted; 2023Q3: restricted; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 579,234 shares; 2024Q4: 579,234 shares; 2025Q1: 579,234 shares 579,234$5.07M3.2%0Timeline
ASTLALGOMA STL GROUP INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q2: restricted; 2023Q3: restricted; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 924,931 shares; 2024Q4: 924,931 shares; 2025Q1: 924,931 shares 924,931$5.01M3.17%0Timeline
BXMTBLACKSTONE MORTGAGE TRUST INQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q2: restricted; 2023Q3: restricted; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 229,400 shares; 2024Q4: 241,700 shares; 2025Q1: 216,700 shares 216,700$4.33M2.74%-25,000Timeline
QQQINVESCO QQQ TRQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q2: restricted; 2023Q3: restricted; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: not reported; 2024Q4: not reported; 2025Q1: 6,810 shares 6,810$3.19M2.02%newTimeline
AQSTAQUESTIVE THERAPEUTICS INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q2: restricted; 2023Q3: restricted; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 428,571 shares; 2024Q4: 459,216 shares; 2025Q1: 459,216 shares 459,216$1.33M0.84%0Timeline
TRTXTPG RE FIN TR INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q2: restricted; 2023Q3: restricted; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: not reported; 2024Q4: not reported; 2025Q1: 143,100 shares 143,100$1.17M0.74%newTimeline
CCOCLEAR CHANNEL OUTDOOR HLDGSQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q2: restricted; 2023Q3: restricted; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 756,426 shares; 2024Q4: 756,426 shares; 2025Q1: 756,426 shares 756,426$840K0.53%0Timeline
AISPWAIRSHIP AI HLDGS INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q2: restricted; 2023Q3: restricted; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 298,015 shares; 2024Q4: 298,015 shares; 2025Q1: 298,015 shares 298,015$334K0.21%0Timeline
BLACK SPADE ACQUISITION II CBLACK SPADE ACQUISITION II CQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q2: restricted; 2023Q3: restricted; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: not reported; 2024Q4: 325,000 shares; 2025Q1: 325,000 shares 325,000$71.5K0.05%0
AIRJWAIRJOULE TECHNOLOGIES CORPQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q2: restricted; 2023Q3: restricted; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 50,000 shares; 2024Q4: 50,000 shares; 2025Q1: 50,000 shares 50,000$28.2K0.02%0Timeline
AA MISSION ACQUISITI…AA MISSION ACQUISITION …Quarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q2: restricted; 2023Q3: restricted; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 300,000 shares; 2024Q4: 300,000 shares; 2025Q1: 300,000 shares 300,000$19.9K0.01%0
SUMMIT HEALTHCARE ACQUISITI…SUMMIT HEALTHCARE ACQUISITIONQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q2: restricted; 2023Q3: restricted; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 232,323 shares; 2024Q4: 232,323 shares; 2025Q1: 232,323 shares 232,323$9.57K0.01%0
COCHWENVOY MEDICAL INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q2: restricted; 2023Q3: restricted; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 262,156 shares; 2024Q4: 262,156 shares; 2025Q1: 262,156 shares 262,156$8.65K0.01%0Timeline
TWIN RIDGE CAPITAL ACQUISIT…TWIN RIDGE CAPITAL ACQUISITIONQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q2: restricted; 2023Q3: restricted; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 141,666 shares; 2024Q4: 141,666 shares; 2025Q1: 141,666 shares 141,666$5.53K<0.01%0
GCT SEMICONDUCTOR HLDG INCGCT SEMICONDUCTOR HLDG INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q2: restricted; 2023Q3: restricted; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 75,000 shares; 2024Q4: 75,000 shares; 2025Q1: 75,000 shares 75,000$5.43K<0.01%0
Spring Valley Acquisition C…Spring Valley Acquisition Corp IIQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q2: restricted; 2023Q3: restricted; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 50,000 shares; 2024Q4: 50,000 shares; 2025Q1: 50,000 shares 50,000$4.85K<0.01%0
Spring Valley Acquisition C…Spring Valley Acquisition Corp IIQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q2: restricted; 2023Q3: restricted; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 25,000 shares; 2024Q4: 25,000 shares; 2025Q1: 25,000 shares 25,000$3.5K<0.01%0
BNAIWBRAND ENGAGEMENT NETWORK INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q2: restricted; 2023Q3: restricted; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 166,666 shares; 2024Q4: 166,666 shares; 2025Q1: 166,666 shares 166,666$3.08K<0.01%0Timeline
VAST RENEWABLES LIMITEDVAST RENEWABLES LIMITEDQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q2: restricted; 2023Q3: restricted; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 75,000 shares; 2024Q4: 75,000 shares; 2025Q1: 75,000 shares 75,000$2.54K<0.01%0
CRMLWCRITICAL METALS CORPQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q2: restricted; 2023Q3: restricted; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 12,500 shares; 2024Q4: 12,500 shares; 2025Q1: 12,500 shares 12,500$2.11K<0.01%0Timeline
TVGNWTEVOGEN INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q2: restricted; 2023Q3: restricted; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 12,500 shares; 2024Q4: 12,500 shares; 2025Q1: 12,500 shares 12,500$674<0.01%0Timeline
ALURWALLURION TECHNOLOGIES INC WT PQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q2: restricted; 2023Q3: restricted; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 15,311 shares; 2024Q4: 15,311 shares; 2025Q1: 15,311 shares 15,311$444<0.01%0Timeline

Options

Puts and calls, as filed. The amount and value describe the underlying shares, not the option premium, so they stay out of % of portfolio (H5).

SecurityTypeAmountValueChange
ISHARES TRISHARES TR PUTput84,000$663M+68,000
INVESCO QQQ TRINVESCO QQQ TR CALLcall4,850$227Mnew
INVESCO QQQ TRINVESCO QQQ TR PUTput4,700$220Mnew
ISHARES TRISHARES TR PUTput6,865$137Mnew
ISHARES TRISHARES TR CALLcall1,865$37.2Mnew
NVIDIA CORPORATIONNVIDIA CORPORATION PUTput1,600$17.3Mnew
NVIDIA CORPORATIONNVIDIA CORPORATION CALLcall1,600$17.3Mnew

Principal amounts

Notes and convertibles filed as a face amount (PRN). A face amount is never added to a share count (H6).

SecurityTypeAmountValueChange
LIBERTY INTERACTIVE LLCLIBERTY INTERACTIVE LLC DEB 4.000%11/1principal47,700,000$13.3M0

Sold out in Q1 2025

Positions in the previous quarter's report that this quarter's report no longer lists.

SecurityShares beforeValue beforeType
FBTCFIDELITY WISE ORIGIN BITCOIN3,968,000$324Mshares
IVVISHARES TR449,850$265Mshares
RSPINVESCO EXCHANGE TRADED FD T1,426,700$250Mshares
ARK ETF TRARK ETF TR22,500$128Mcall
ARK ETF TRARK ETF TR15,750$89.4Mput
ISHARES TRISHARES TR5,500$43.3Mcall
IBITISHARES BITCOIN TRUST ETF200,000$10.6Mshares
ARKKARK ETF TR143,000$8.12Mshares
TESLA INCTESLA INC200$8.08Mput
TESLA INCTESLA INC200$8.08Mcall
TSLATESLA INC5,000$2.02Mshares
ILEARNINGENGINES INCILEARNINGENGINES INC286,528$5.73Kshares

How Q1 2025 was built

Available 13F filings of this filer for the quarter and their roles: the base report is the latest original or restatement, NEW HOLDINGS amendments filed after it are added (method).

FilingRoleAmendmentFiledAcceptedIngested
13F-HR 0001426486-25-000004 base2025-05-15acceptance time not in the bulk data set