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Bracebridge Capital, LLC

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13F filer, CIK 1426486, BOSTON, MA

Bracebridge Capital, LLC reported $1,867,437,060 across 45 holdings for the quarter ended 2025-06-30, in a 13F-HR filed 2025-08-14. Its ten largest share positions make up 89.79% of the portfolio.

Filed (acceptance time not in the bulk data set), ingested 13F-HR 0001426486-25-000006

Period
2025-06-30
Reported value
$1.87B
Holdings
45
Top 10 weight
89.79%
New
12
Sold out
5

Largest buys vs the previous quarter

SecurityShares changeApprox. value
IWMnew+210,330$45.4M
TSLAnew+15,200$4.83M
UNITI GROUP INCadded+802,600$3.47M
GEN DIGITAL INCnew+210,700$1.69M
TRTXadded+87,900$679K

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
BLACK SPADE ACQUISITION II Cexited-975,000-$9.86M
NVDAreduced-28,319-$4.47M
QQQexited-6,810-$3.19M
AISPWexited-298,015-$334K
OPTUreduced-39,200-$83.9K

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, Q2 2025

Share positions as resolved from 13F-HR 0001426486-25-000006, largest first. % of portfolio is the value over $187,976,008, the sum of the share positions whose value is usable for ratios (method).

SecurityHistorySharesValue% of portfolioChangeLatest eventTimeline
IWMISHARES TRQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q3: restricted; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: not reported; 2024Q4: not reported; 2025Q1: not reported; 2025Q2: 210,330 shares 210,330$45.4M24.15%newTimeline
ALVOALVOTECHQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q3: restricted; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 2,705,304 shares; 2024Q4: 2,705,304 shares; 2025Q1: 2,705,304 shares; 2025Q2: 2,705,304 shares 2,705,304$24.7M13.13%0Timeline
OPTUOPTIMUM COMMUNICATIONS INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q3: restricted; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 6,532,640 shares; 2024Q4: 8,854,977 shares; 2025Q1: 9,390,440 shares; 2025Q2: 9,351,240 shares 9,351,240$20M10.65%-39,200Timeline
ADTADT INC DELQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q3: restricted; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 1,626,000 shares; 2024Q4: 2,126,000 shares; 2025Q1: 2,126,000 shares; 2025Q2: 2,126,000 shares 2,126,000$18M9.58%0Timeline
GNWGENWORTH FINL INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q3: restricted; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 1,749,200 shares; 2024Q4: 1,749,200 shares; 2025Q1: 1,969,200 shares; 2025Q2: 1,969,200 shares 1,969,200$15.3M8.15%0Timeline
UNITI GROUP INCUNITI GROUP INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q3: restricted; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 2,432,038 shares; 2024Q4: 2,432,038 shares; 2025Q1: 2,432,038 shares; 2025Q2: 3,234,638 shares 3,234,638$14M7.43%+802,600
NVDANVIDIA CORPORATIONQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q3: restricted; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: not reported; 2024Q4: not reported; 2025Q1: 116,719 shares; 2025Q2: 88,400 shares 88,400$14M7.43%-28,319Timeline
ASTLALGOMA STL GROUP INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q3: restricted; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 924,931 shares; 2024Q4: 924,931 shares; 2025Q1: 924,931 shares; 2025Q2: 924,931 shares 924,931$6.37M3.39%0Timeline
AAMAA MISSION ACQUISITION COR-AQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q3: restricted; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 600,000 shares; 2024Q4: 600,000 shares; 2025Q1: 600,000 shares; 2025Q2: 600,000 shares 600,000$6.25M3.33%0Timeline
TSLATESLA INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q3: restricted; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: not reported; 2024Q4: 5,000 shares; 2025Q1: not reported; 2025Q2: 15,200 shares 15,200$4.83M2.57%newTimeline
BXMTBLACKSTONE MORTGAGE TRUST INQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q3: restricted; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 229,400 shares; 2024Q4: 241,700 shares; 2025Q1: 216,700 shares; 2025Q2: 216,700 shares 216,700$4.17M2.22%0Timeline
OSGOCTAVE SPECIALTY GROUP INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q3: restricted; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 579,234 shares; 2024Q4: 579,234 shares; 2025Q1: 579,234 shares; 2025Q2: 579,234 shares 579,234$4.11M2.19%0Timeline
TRTXTPG RE FIN TR INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q3: restricted; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: not reported; 2024Q4: not reported; 2025Q1: 143,100 shares; 2025Q2: 231,000 shares 231,000$1.78M0.95%+87,900Timeline
GEN DIGITAL INCGEN DIGITAL INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q3: restricted; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: not reported; 2024Q4: not reported; 2025Q1: not reported; 2025Q2: 210,700 shares 210,700$1.69M0.9%new
AQSTAQUESTIVE THERAPEUTICS INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q3: restricted; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 428,571 shares; 2024Q4: 459,216 shares; 2025Q1: 459,216 shares; 2025Q2: 459,216 shares 459,216$1.52M0.81%0Timeline
CCOCLEAR CHANNEL OUTDOOR HLDGSQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q3: restricted; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 756,426 shares; 2024Q4: 756,426 shares; 2025Q1: 756,426 shares; 2025Q2: 756,426 shares 756,426$885K0.47%0Timeline
TGEWSGENERATION ESSENTIALS GROUPQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q3: restricted; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: not reported; 2024Q4: not reported; 2025Q1: not reported; 2025Q2: 325,000 shares 325,000$130K0.07%newTimeline
AIRJWAIRJOULE TECHNOLOGIES CORPQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q3: restricted; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 50,000 shares; 2024Q4: 50,000 shares; 2025Q1: 50,000 shares; 2025Q2: 50,000 shares 50,000$32.5K0.02%0Timeline
AA MISSION ACQUISITI…AA MISSION ACQUISITION …Quarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q3: restricted; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 300,000 shares; 2024Q4: 300,000 shares; 2025Q1: 300,000 shares; 2025Q2: 300,000 shares 300,000$29.5K0.02%0
SUMMIT HEALTHCARE ACQUISITI…SUMMIT HEALTHCARE ACQUISITIONQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q3: restricted; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 232,323 shares; 2024Q4: 232,323 shares; 2025Q1: 232,323 shares; 2025Q2: 232,323 shares 232,323$9.27K<0.01%0
COCHWENVOY MEDICAL INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q3: restricted; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 262,156 shares; 2024Q4: 262,156 shares; 2025Q1: 262,156 shares; 2025Q2: 262,156 shares 262,156$9.25K<0.01%0Timeline
GCT SEMICONDUCTOR HLDG INCGCT SEMICONDUCTOR HLDG INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q3: restricted; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 75,000 shares; 2024Q4: 75,000 shares; 2025Q1: 75,000 shares; 2025Q2: 75,000 shares 75,000$7.27K<0.01%0
Spring Valley Acquisition C…Spring Valley Acquisition Corp IIQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q3: restricted; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 50,000 shares; 2024Q4: 50,000 shares; 2025Q1: 50,000 shares; 2025Q2: 50,000 shares 50,000$7K<0.01%0
CRMLWCRITICAL METALS CORPQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q3: restricted; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 12,500 shares; 2024Q4: 12,500 shares; 2025Q1: 12,500 shares; 2025Q2: 12,500 shares 12,500$5.7K<0.01%0Timeline
BNAIWBRAND ENGAGEMENT NETWORK INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q3: restricted; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 166,666 shares; 2024Q4: 166,666 shares; 2025Q1: 166,666 shares; 2025Q2: 166,666 shares 166,666$5.02K<0.01%0Timeline
DAICWCID HOLDCO INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q3: restricted; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: not reported; 2024Q4: not reported; 2025Q1: not reported; 2025Q2: 62,500 shares 62,500$4.94K<0.01%newTimeline
Spring Valley Acquisition C…Spring Valley Acquisition Corp IIQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q3: restricted; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 25,000 shares; 2024Q4: 25,000 shares; 2025Q1: 25,000 shares; 2025Q2: 25,000 shares 25,000$3.5K<0.01%0
TWIN RIDGE CAPITAL ACQUISIT…TWIN RIDGE CAPITAL ACQUISITIONQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q3: restricted; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 141,666 shares; 2024Q4: 141,666 shares; 2025Q1: 141,666 shares; 2025Q2: 141,666 shares 141,666$2.49K<0.01%0
TVGNWTEVOGEN INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q3: restricted; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 12,500 shares; 2024Q4: 12,500 shares; 2025Q1: 12,500 shares; 2025Q2: 12,500 shares 12,500$874<0.01%0Timeline
ALURWALLURION TECHNOLOGIES INC WT PQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q3: restricted; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 15,311 shares; 2024Q4: 15,311 shares; 2025Q1: 15,311 shares; 2025Q2: 15,311 shares 15,311$481<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
INVESCO QQQ TRINVESCO QQQ TR CALLcall8,175$451M+3,325
INVESCO QQQ TRINVESCO QQQ TR PUTput5,175$285M+475
ISHARES TRISHARES TR CALLcall11,865$256M+10,000
ISHARES TRISHARES TR PUTput11,865$256M+5,000
COINBASE GLOBAL INCCOINBASE GLOBAL INC CALLcall4,150$145Mnew
AMAZON COM INCAMAZON COM INC CALLcall3,000$65.8Mnew
NVIDIA CORPORATIONNVIDIA CORPORATION PUTput2,600$41.1M+1,000
NVIDIA CORPORATIONNVIDIA CORPORATION CALLcall2,600$41.1M+1,000
ISHARES TRISHARES TR PUTput5,000$40.3M-79,000
TESLA INCTESLA INC PUTput800$25.4Mnew
TESLA INCTESLA INC CALLcall800$25.4Mnew
COINBASE GLOBAL INCCOINBASE GLOBAL INC PUTput650$22.8Mnew
SUPER MICRO COMPUTER INCSUPER MICRO COMPUTER INC PUTput2,409$11.8Mnew
SUPER MICRO COMPUTER INCSUPER MICRO COMPUTER INC COM NEWcall2,409$11.8Mnew

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$4.77M0

Sold out in Q2 2025

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

SecurityShares beforeValue beforeType
BLACK SPADE ACQUISITION II CBLACK SPADE ACQUISITION II C975,000$9.86Mshares
QQQINVESCO QQQ TR6,810$3.19Mshares
AISPWAIRSHIP AI HLDGS INC298,015$334Kshares
BLACK SPADE ACQUISITION II CBLACK SPADE ACQUISITION II C325,000$71.5Kshares
VAST RENEWABLES LIMITEDVAST RENEWABLES LIMITED75,000$2.54Kshares

How Q2 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 0001426486-25-000006 base2025-08-14acceptance time not in the bulk data set