Bracebridge Capital, Llc
- Regulatory AUM
- $100B
- Discretionary
- $100B
- Clients
- 12
- Avg AUM / client
- $8.4B
- Accounts
- 12
- Employees
- 168
AUM over time
Annual snapshots from Form ADV filings · as of Mar 31, 2026
Investments (13F portfolio — 44 positions, $3,728,981,932)
13F period Mar 31, 2026| # | Issuer | Class | Value | Shares | % of 13F | % of AUM |
|---|---|---|---|---|---|---|
| 1 | Ishares Tr | RUSSELL 2000 ETF | $1,546,652,000 | 62,365 | 41.5% | 1.54% |
| 2 | Spdr Gold Tr | PUT | $424,351,998 | 9,862 | 11.4% | 0.42% |
| 3 | Spdr Gold Tr | GOLD SHS | $410,260,001 | 953,450 | 11.0% | 0.41% |
| 4 | Select Sector Spdr Tr | PUT | $245,940,000 | 30,000 | 6.6% | 0.25% |
| 5 | State Str Spdr S&P 500 Etf T | CALL | $227,619,000 | 3,500 | 6.1% | 0.23% |
| 6 | Ishares Tr | PUT | $214,812,000 | 27,000 | 5.76% | 0.21% |
| 7 | Ishares Tr | CALL | $207,452,000 | 8,365 | 5.56% | 0.21% |
| 8 | Spdr Gold Tr | CALL | $86,058,000 | 2,000 | 2.31% | 0.09% |
| 9 | Uniti Group Llc | COM SHS | $72,633,702 | 7,743,465 | 1.95% | 0.07% |
| 10 | Tesla Inc | CALL | $52,974,375 | 1,425 | 1.42% | 0.05% |
| 11 | Tesla Inc | PUT | $52,974,375 | 1,425 | 1.42% | 0.05% |
| 12 | Salesforce Inc | CALL | $37,334,000 | 2,000 | 1.0% | 0.04% |
| 13 | Warner Bros Discovery Inc | CALL | $27,460,000 | 10,000 | 0.74% | 0.03% |
| 14 | Ares Capital Corp | PUT | $24,056,700 | 13,350 | 0.65% | 0.02% |
| 15 | Ishares Tr | EXPANDED TECH | $16,010,000 | 2,000 | 0.43% | 0.02% |
| 16 | Tesla Inc | COM | $14,646,950 | 39,400 | 0.39% | 0.01% |
| 17 | Adt Inc Del | COM | $13,967,820 | 2,126,000 | 0.37% | 0.01% |
| 18 | Alvotech | ORDINARY SHARES | $9,279,193 | 2,705,304 | 0.25% | 0.01% |
| 19 | Genworth Finl Inc | COM SHS | $5,800,831 | 714,388 | 0.16% | 0.01% |
| 20 | Invesco Exch Traded Fd Tr Ii | PUT | $5,102,500 | 2,500 | 0.14% | 0.01% |
| 21 | Blackstone Mortgage Trust In | COM CL A | $4,628,555 | 241,700 | 0.12% | 0.0% |
| 22 | Algoma Stl Group Inc | COM | $3,819,965 | 924,931 | 0.1% | 0.0% |
| 23 | Ishares Tr | IBOXX HI YD ETF | $2,983,500 | 37,500 | 0.08% | 0.0% |
| 24 | Amc Entmt Hldgs Inc | CL A NEW | $2,696,665 | 2,751,699 | 0.07% | 0.0% |
| 25 | Octave Specialty Group Inc | COM NEW | $2,693,438 | 579,234 | 0.07% | 0.0% |
Top 25 of 44 positions from the manager's latest Form 13F · source filing (EDGAR) ↗. 13F covers long US-listed positions only. "% of AUM" is share of the firm's total regulatory AUM (Form ADV Item 5.F).
Who they serve
| Client type | Clients | AUM | % of AUM |
|---|---|---|---|
| Pooled investment vehicles (non-investment companies) | 12 | $100B | 100.0% |
Private funds (12)
Reported in Form ADV Section 7.B.(1), filing of Oct 2024 · $79.1B combined gross assets
| Fund | Type | Domicile | Gross assets | Owners |
|---|---|---|---|---|
| Ffi Fund Ltd. master | Hedge Fund | Cayman Islands | $47.3B | 256 |
| Fyi Ltd. master | Hedge Fund | Cayman Islands | $9.0B | 10 |
| Olifant Fund, Ltd. master | Hedge Fund | Cayman Islands | $8.8B | 1 |
| Bil, Ltd. master | Hedge Fund | Cayman Islands | $6.0B | 159 |
| Ffip, Lp feeder | Hedge Fund | Delaware | $1.8B | 83 |
| New Fyi Ltd. master | Hedge Fund | Cayman Islands | $1.6B | 10 |
| Wingspan, L.P. feeder | Hedge Fund | Cayman Islands | $1.5B | 10 |
| Sbff Ltd. feeder | Hedge Fund | Cayman Islands | $1.3B | 1 |
| Bpi Ltd. feeder | Hedge Fund | Cayman Islands | $1.1B | 6 |
| New Ffio Ltd. feeder | Hedge Fund | Cayman Islands | $695M | 15 |
| Abil, Ltd. feeder | Hedge Fund | Cayman Islands | $22.6M | 0 |
| Value Recovery Fund Limited | Hedge Fund | Cayman Islands | $6.2M | 1 |
People (5)
| Name | Role / title | Credentials | With firm since | Ownership |
|---|---|---|---|---|
| Sunshine, Gabriel, Brendan | Founder | Feb 1994 (33y) | 50% – 75% of Svz, Inc. (indirect) | |
| Zimmerman, Nancy, Gail | Founder | Feb 1994 (33y) | 50% – 75% of Svz, Inc. (indirect) | |
| Spinney, John, Nicholas | Member, Chief Financial Officer And Chief Operating Officer | Oct 2007 (19y) | Less than 5% | |
| Townley, William, Danforth | General Counsel | Mar 2017 (9y) | Less than 5% | |
| Kudlacik, Scott, R | Chief Compliance Officer | Oct 2024 (2y) | Less than 5% |
Entity owners (Schedule A/B)
| Entity | Title / status | Since | Sch. | Ownership |
|---|---|---|---|---|
| Bracebridge Capital Ii, L.P. | Manager | Dec 2012 | A | 50% – 75% |
| Svz, L.P. | Member | Jul 2001 | A | 25% – 50% |
| Svz, Inc. | General Partner | Dec 2012 | B | GP / trustee / elected manager of Bracebridge Capital Ii, L.P. (indirect) |
Undisclosed: 0% – 25% of the firm is not attributable from the filed Schedule A bands.
Roster from the IAPD representatives feed; ownership and acquisition dates from Form ADV Schedule A/B. "Since" is the earliest filed registration or acquisition date.
Private funds (12, $79.1B gross assets)
| Fund | Type | Gross assets | Min. investment | Owners |
|---|---|---|---|---|
| Ffi Fund Ltd. | Hedge Fund | $47.3B | $100K | 256 |
| Fyi Ltd. | Hedge Fund | $9.0B | $100K | 10 |
| Olifant Fund, Ltd. | Hedge Fund | $8.8B | $1.0M | 1 |
| Bil, Ltd. | Hedge Fund | $6.0B | $100K | 159 |
| Ffip, Lp | Hedge Fund | $1.8B | $1.0M | 83 |
| New Fyi Ltd. | Hedge Fund | $1.6B | $100K | 10 |
| Wingspan, L.P. | Hedge Fund | $1.5B | $100K | 10 |
| Sbff Ltd. | Hedge Fund | $1.3B | $100K | 1 |
| Bpi Ltd. | Hedge Fund | $1.1B | $100K | 6 |
| New Ffio Ltd. | Hedge Fund | $695M | $100K | 15 |
| Abil, Ltd. | Hedge Fund | $22.6M | $100K | 0 |
| Value Recovery Fund Limited | Hedge Fund | $6.2M | $100K | 1 |
From Form ADV Section 7.B private fund reporting.
Documents (1 archived)
| Form | Period | Size | |
|---|---|---|---|
| Form ADV (full filing) | 03/31/2026 | 4.09 MB | View · PDF · Source ↗ |
Archived copies of the firm's regulatory filings, versioned by content hash.
Disciplinary disclosures
No disciplinary events reported on the firm's latest Form ADV filing.
How they charge
- • Percentage of assets under management
- • Performance-based fees
Services
- • Portfolio management for pooled investment vehicles
Custody
Firm reports having custody of client funds or securities (Item 9.A).
No custodian data reported or mined yet.
Source
All data on this page comes from this firm's Form ADV filings, reproduced without modification. Latest filing: Mar 31, 2026.
View current Form ADV (SEC/IAPD) ↗