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KCM

Knighthead Capital Management Portfolio holdings

AUM $1.18B
1-Year Est. Return 54.89%
This Fund
S&P 500
This Quarter Est. Return
+4.11%
1 Year Est. Return
-54.89%
3 Year Est. Return
-74.14%
5 Year Est. Return
-83.11%
10 Year Est. Return
-87.99%
AUM
$537M
AUM Growth
+$153M
Cap. Flow
-$32.8M
Cap. Flow %
-6.11%
Top 10 Hldgs %
99.27%
Holding
13
New
1
Increased
2
Reduced
3
Closed
1

Top Buys

Rank Stock Value
1
GNRT
Gener8 Maritime, Inc.
GNRT
+$988K

Top Sells

Rank Stock Value
1
HRI icon
Herc Holdings
HRI
+$14.6M
2
AAL icon
American Airlines Group
AAL
+$10.4M
3
UAL icon
United Airlines
UAL
+$6.06M
4
MERC icon
Mercer International
MERC
+$2.77M

Sector Composition

Rank Sector Weight
1 Miscellaneous 49.56%
2 Industrials 19.2%
3 Energy 9.47%
4 Consumer Discretionary 6.71%
5 Financials 5.46%
Name Market Value Portfolio Weight Shares or Principal Change
in Stake 		Capital Flow
HYG icon
1
CALL
iShares iBoxx $ High Yield Corporate Bond ETF
HYG
$15.2B
$250M 46.52%
3,100,000
+2,050,000
+195% +$170M
AAL icon
2
American Airlines Group
AAL
$8.62B
$55.1M 10.25%
1,300,073
-240,000
-16% -$10.4M
YPF icon
3
YPF Sociedad Anonima ADS
YPF
$22B
$50.9M 9.47%
3,234,725
– –
GM icon
4
General Motors
GM
$75.7B
$36M 6.71%
1,059,005
– –
ACAS
5
DELISTED
American Capital Ltd
ACAS
$29.3M 5.46%
2,126,878
– –
MERC icon
6
Mercer International
MERC
$26.3M
$27.2M 5.06%
3,001,780
-271,222
-8% -$2.77M
CPN
7
DELISTED
Calpine Corporation
CPN
$24.4M 4.54%
1,684,869
– –
UAL icon
8
United Airlines
UAL
$35.1B
$24.1M 4.49%
420,700
-105,000
-20% -$6.06M
GNRT
9
DELISTED
Gener8 Maritime, Inc.
GNRT
$24M 4.46%
2,535,667
+96,108
+4% +$988K
HRI icon
10
CALL
Herc Holdings
HRI
$4.77B
$12.4M 2.31%
+290,333
New +$14.6M
GM.WS.A
11
CALL
DELISTED
GENERAL MOTORS COMPANY WARRANT (EXPIRES 07/10/2016)
GM.WS.A
$2.36M 0.44%
96,730
– –
GM.WS.B
12
CALL
DELISTED
General Motors Company
GM.WS.B
$1.58M 0.29%
96,730
– –
HRI icon
13
Herc Holdings
HRI
$4.77B
– –
-290,311
Closed -$14.6M

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Knighthead Capital Management's Q4 2015 Portfolio in Review

As of Q4 2015, Knighthead Capital Management held 13 positions worth $537M, up 40% from $384M the previous quarter. Its ten largest holdings account for 99% of the portfolio.

Knighthead Capital Management withdrew a net $32.8M in Q4 2015, closing 1 position and reducing 3 holdings. Its most notable exit was Herc Holdings, an estimated $14.6M position sold in full.

By sector, the portfolio is most concentrated in Miscellaneous at 50% of assets, up from 24% a quarter earlier, followed by Industrials and Energy.

Against the trend, Knighthead Capital Management added an estimated $988K to Gener8 Maritime, Inc..

  • Knighthead Capital Management added most to Gener8 Maritime, Inc. in Q4 2015, an estimated $988K increase.
  • Knighthead Capital Management's biggest Q4 2015 reduction was American Airlines Group, cutting an estimated $10.4M.
  • Knighthead Capital Management fully exited Herc Holdings in Q4 2015, selling an estimated $14.6M.
  • Knighthead Capital Management's ten largest holdings make up 99% of its $537M portfolio in Q4 2015.
  • Knighthead Capital Management opened 1 new position and closed 1 in Q4 2015.
  • Knighthead Capital Management's portfolio value rose 40% quarter-over-quarter to $537M.

Based on Knighthead Capital Management's 13F filing for Q4 2015, filed 16 Feb 2016.