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KCM

Knighthead Capital Management Portfolio holdings

AUM $1.52B
1-Year Est. Return 19.8%
This Fund
S&P 500
This Quarter Est. Return
-11.55%
1 Year Est. Return
+19.8%
3 Year Est. Return
-51.34%
5 Year Est. Return
-74.51%
10 Year Est. Return
-80.74%
AUM
$1.52B
AUM Growth
+$134M
Cap. Flow
+$283M
Cap. Flow %
18.63%
Top 10 Hldgs %
100%
Holding
7
New
1
Increased
–
Reduced
1
Closed
2

Top Buys

No buys this quarter

Top Sells

Rank Stock Value
1
ECHO
EchoStar
ECHO
+$13.6M
2
TDS icon
Telephone and Data Systems
TDS
+$3.09M

Sector Composition

Rank Sector Weight
1 Industrials 63.82%
2 Communication Services 1.23%
Name Market Value Portfolio Weight Shares or Principal Change
in Stake 		Capital Flow
HTZ icon
1
Hertz
HTZ
$524M
$837M 55.04%
181,455,469
– –
IWM icon
2
PUT
iShares Russell 2000 ETF
IWM
$80.2B
$372M 24.48%
+1,500,000
New +$387M
HYG icon
3
PUT
iShares iBoxx $ High Yield Corporate Bond ETF
HYG
$15.9B
$159M 10.47%
2,000,000
– –
UP icon
4
Wheels Up
UP
$217M
$133M 8.77%
12,908,460
– –
TDS icon
5
Telephone and Data Systems
TDS
$3.82B
$18.8M 1.23%
445,695
-70,305
-14% -$3.09M
ECHO
6
EchoStar
ECHO
$25B
– –
-125,031
Closed -$13.6M
TLT icon
7
PUT
iShares 20+ Year Treasury Bond ETF
TLT
$42.4B
– –
-1,000,000
Closed -$87.2M

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ARAM
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Knighthead Capital Management's Q1 2026 Portfolio in Review

As of Q1 2026, Knighthead Capital Management held 7 positions worth $1.52B, up 9.7% from $1.39B the previous quarter. Its ten largest holdings account for 100% of the portfolio.

Knighthead Capital Management deployed $283M of net new capital in Q1 2026, opening 1 new position.

By sector, the portfolio is most concentrated in Industrials at 64% of assets, down from 80% a quarter earlier, followed by Communication Services.

On the sell side, the largest reduction was Telephone and Data Systems, an estimated $3.09M trimmed.

  • Knighthead Capital Management's biggest Q1 2026 reduction was Telephone and Data Systems, cutting an estimated $3.09M.
  • Knighthead Capital Management fully exited EchoStar in Q1 2026, selling an estimated $13.6M.
  • Knighthead Capital Management's ten largest holdings make up 100% of its $1.52B portfolio in Q1 2026.
  • Knighthead Capital Management opened 1 new position and closed 2 in Q1 2026.
  • Knighthead Capital Management's portfolio value rose 9.7% quarter-over-quarter to $1.52B.

Based on Knighthead Capital Management's 13F filing for Q1 2026, filed 15 May 2026.