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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
-11.98%
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
$1.08B
AUM Growth
+$605M
Cap. Flow
+$681M
Cap. Flow %
63.02%
Top 10 Hldgs %
98.05%
Holding
15
New
3
Increased
1
Reduced
2
Closed
1

Top Buys

Rank Stock Value
1
GNRT
Gener8 Maritime, Inc.
GNRT
+$32.8M
2
CPN
Calpine Corporation
CPN
+$29.7M

Top Sells

Rank Stock Value
1
BPOP icon
Popular Inc
BPOP
+$32.3M
2
YPF icon
YPF
YPF
+$14.6M
3
HRI icon
Herc Holdings
HRI
+$3.22M

Sector Composition

Rank Sector Weight
1 Industrials 13.53%
2 Energy 8.81%
3 Materials 4.42%
4 Consumer Discretionary 3.5%
5 Utilities 2.77%
Name Market Value Portfolio Weight Shares or Principal Change
in Stake 		Capital Flow
SPY icon
1
PUT
State Street SPDR S&P 500 ETF Trust
SPY
$784B
$566M 52.39%
+2,750,000
New +$578M
AAL icon
2
American Airlines Group
AAL
$10.2B
$96.5M 8.93%
2,417,112
– –
YPF icon
3
YPF
YPF
$20.4B
$94.8M 8.78%
3,457,894
-500,000
-13% -$14.6M
HYG icon
4
PUT
iShares iBoxx $ High Yield Corporate Bond ETF
HYG
$15.9B
$88.8M 8.22%
+1,000,000
New +$90.4M
MERC icon
5
Mercer International
MERC
$39.5M
$47.8M 4.42%
3,494,626
– –
GM icon
6
General Motors
GM
$80B
$37.8M 3.5%
1,134,052
– –
GNRT
7
DELISTED
Gener8 Maritime, Inc.
GNRT
$33.3M 3.08%
+2,439,559
New +$32.8M
UAL icon
8
United Airlines
UAL
$40.1B
$32.9M 3.05%
621,210
– –
ACAS
9
DELISTED
American Capital Ltd
ACAS
$31.5M 2.92%
2,325,349
– –
CPN
10
DELISTED
Calpine Corporation
CPN
$29.9M 2.77%
1,663,338
+1,423,000
+592% +$29.7M
HRI icon
11
Herc Holdings
HRI
$4.88B
$16.8M 1.55%
308,712
-52,163
-14% -$3.22M
GM.WS.A
12
CALL
DELISTED
GENERAL MOTORS COMPANY WARRANT (EXPIRES 07/10/2016)
GM.WS.A
$2.37M 0.22%
99,679
– –
GM.WS.B
13
CALL
DELISTED
General Motors Company
GM.WS.B
$1.6M 0.15%
99,679
– –
VTG
14
DELISTED
VANTAGE DRILLING COMPANY ORD SHS (KY)
VTG
$330K 0.03%
1,744,368
– –
BPOP icon
15
Popular Inc
BPOP
$11.2B
– –
-939,296
Closed -$32.3M

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Knighthead Capital Management's Q2 2015 Portfolio in Review

As of Q2 2015, Knighthead Capital Management held 15 positions worth $1.08B, up 127% from $475M the previous quarter. Its ten largest holdings account for 98% of the portfolio.

Knighthead Capital Management deployed $681M of net new capital in Q2 2015, opening 3 new positions and adding to 1 existing holding. Its largest new stake was Gener8 Maritime, Inc.: 2,439,559 shares worth $33.3M.

By sector, the portfolio is most concentrated in Industrials at 14% of assets, down from 41% a quarter earlier, followed by Energy and Materials.

On the sell side, the largest reduction was YPF, an estimated $14.6M trimmed.

  • Knighthead Capital Management's largest Q2 2015 buy was Gener8 Maritime, Inc.: 2,439,559 shares worth $33.3M.
  • Knighthead Capital Management added most to Calpine Corporation in Q2 2015, an estimated $29.7M increase.
  • Knighthead Capital Management's biggest Q2 2015 reduction was YPF, cutting an estimated $14.6M.
  • Knighthead Capital Management fully exited Popular Inc in Q2 2015, selling an estimated $32.3M.
  • Knighthead Capital Management's ten largest holdings make up 98% of its $1.08B portfolio in Q2 2015.
  • Knighthead Capital Management opened 3 new positions and closed 1 in Q2 2015.
  • Knighthead Capital Management's portfolio value rose 127% quarter-over-quarter to $1.08B.

Based on Knighthead Capital Management's 13F filing for Q2 2015, filed 14 Aug 2015.