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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
+9.81%
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
$944M
AUM Growth
+$240M
Cap. Flow
+$217M
Cap. Flow %
22.98%
Top 10 Hldgs %
79.97%
Holding
29
New
2
Increased
17
Reduced
4
Closed
4

Top Buys

Rank Stock Value
1
AAL icon
American Airlines Group
AAL
+$114M
2
DK icon
Delek US
DK
+$9.24M
3
ANDV
Andeavor
ANDV
+$8.12M
4
HRI icon
Herc Holdings
HRI
+$7.68M
5
YPF icon
YPF
YPF
+$7.06M

Top Sells

Rank Stock Value
1
AAPL icon
Apple
AAPL
+$36.4M
2
CLD
Cloud Peak Energy Inc
CLD
+$27.3M
3
HCA icon
HCA Healthcare
HCA
+$18.5M
4
GPK icon
Graphic Packaging
GPK
+$4.72M
5
GT icon
Goodyear
GT
+$4.17M

Sector Composition

Rank Sector Weight
1 Industrials 25.99%
2 Energy 18.64%
3 Communication Services 8.55%
4 Consumer Discretionary 6.28%
5 Utilities 4%
Name Market Value Portfolio Weight Shares or Principal Change
in Stake 		Capital Flow
AAL icon
1
American Airlines Group
AAL
$10.2B
$153M 16.21%
4,181,243
+3,357,596
+408% +$114M
SPY icon
2
PUT
State Street SPDR S&P 500 ETF Trust
SPY
$784B
$120M 12.68%
+640,000
New +$117M
YPF icon
3
YPF
YPF
$20.4B
$105M 11.1%
3,364,753
+253,007
+8% +$7.06M
UAL icon
4
United Airlines
UAL
$40.1B
$78.1M 8.27%
1,749,120
+116,565
+7% +$5.24M
ACAS
5
DELISTED
American Capital Ltd
ACAS
$75.2M 7.97%
4,765,010
+310,272
+7% +$4.78M
HMHC
6
DELISTED
Houghton Mifflin Harcourt Company
HMHC
$59.9M 6.34%
2,944,446
-76,774
-3% -$1.48M
DYN
7
DELISTED
Dynegy, Inc.
DYN
$46.9M 4.96%
1,878,830
+126,000
+7% +$2.78M
ANDV
8
DELISTED
Andeavor
ANDV
$42.6M 4.52%
842,734
+156,203
+23% +$8.12M
EXC icon
9
Exelon
EXC
$46.6B
$37.8M 4%
1,577,250
+105,150
+7% +$2.21M
GM icon
10
General Motors
GM
$80B
$37M 3.92%
1,076,397
+71,560
+7% +$2.63M
NE
11
DELISTED
Noble Corporation
NE
$30.9M 3.27%
1,078,696
+71,976
+7% +$2.03M
MERC icon
12
Mercer International
MERC
$39.5M
$25.1M 2.66%
3,343,374
+551,633
+20% +$5.03M
DISH
13
DELISTED
DISH Network Corp.
DISH
$20.9M 2.21%
335,776
+22,350
+7% +$1.3M
DK icon
14
Delek US
DK
$4.15B
$16.3M 1.72%
560,447
+305,648
+120% +$9.24M
EXXI
15
DELISTED
ENERGY XXI LTD COM SHS
EXXI
$16M 1.7%
680,603
+46,000
+7% +$1.08M
HRI icon
16
Herc Holdings
HRI
$4.88B
$14.3M 1.51%
178,661
+95,328
+114% +$7.68M
GPK icon
17
Graphic Packaging
GPK
$3.24B
$13.1M 1.38%
1,286,003
-478,130
-27% -$4.72M
AEO icon
18
American Eagle Outfitters
AEO
$2.9B
$9.19M 0.97%
750,700
+150,700
+25% +$2.08M
CYH icon
19
Community Health Systems
CYH
$391M
$6.47M 0.69%
199,914
+78,914
+65% +$2.61M
VTG
20
DELISTED
VANTAGE DRILLING COMPANY ORD SHS (KY)
VTG
$6.46M 0.68%
3,779,438
+2,338,823
+162% +$4.08M
CLD
21
DELISTED
Cloud Peak Energy Inc
CLD
$5.76M 0.61%
272,707
-1,450,937
-84% -$27.3M
VYX icon
22
NCR Voyix
VYX
$1.12B
$5.48M 0.58%
244,337
-163
-0.1% -$3.46K
GM.WS.B
23
CALL
DELISTED
General Motors Company
GM.WS.B
$3.34M 0.35%
96,985
– –
GM.WS.A
24
CALL
DELISTED
GENERAL MOTORS COMPANY WARRANT (EXPIRES 07/10/2016)
GM.WS.A
$3.34M 0.35%
96,985
– –
AAPL icon
25
Apple
AAPL
$4.9T
– –
-1,817,312
Closed -$36.4M
1
2

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Knighthead Capital Management's Q1 2014 Portfolio in Review

As of Q1 2014, Knighthead Capital Management held 29 positions worth $944M, up 34% from $704M the previous quarter. Its ten largest holdings account for 80% of the portfolio.

Knighthead Capital Management deployed $217M of net new capital in Q1 2014, opening 2 new positions and adding to 17 existing holdings.

By sector, the portfolio is most concentrated in Industrials at 26% of assets, up from 13% a quarter earlier, followed by Energy and Communication Services.

On the sell side, the largest reduction was Cloud Peak Energy Inc, an estimated $27.3M trimmed.

  • Knighthead Capital Management added most to American Airlines Group in Q1 2014, an estimated $114M increase.
  • Knighthead Capital Management's biggest Q1 2014 reduction was Cloud Peak Energy Inc, cutting an estimated $27.3M.
  • Knighthead Capital Management fully exited Apple in Q1 2014, selling an estimated $36.4M.
  • Knighthead Capital Management's ten largest holdings make up 80% of its $944M portfolio in Q1 2014.
  • Knighthead Capital Management opened 2 new positions and closed 4 in Q1 2014.
  • Knighthead Capital Management's portfolio value rose 34% quarter-over-quarter to $944M.

Based on Knighthead Capital Management's 13F filing for Q1 2014, filed 15 May 2014.