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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
+16.59%
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
$683M
AUM Growth
+$77.3M
(+13%)
Cap. Flow
+$28.1M
Cap. Flow
% of AUM
4.11%
Top 10 Holdings %
Top 10 Hldgs %
99.75%
Holding
14
New
2
Increased
3
Reduced
2
Closed
3
Top Buys
| Rank | Stock | Value |
|---|---|---|
| 1 |
EQT Corp
EQT
|
+$27.4M |
| 2 |
GNRT
Gener8 Maritime, Inc.
GNRT
|
+$13.3M |
| 3 |
GLBL
TerraForm Global, Inc. Class A Common Stock
GLBL
|
+$3.96M |
| 4 |
DISH
DISH Network Corp.
DISH
|
+$3.09M |
Top Sells
| Rank | Stock | Value |
|---|---|---|
| 1 |
ARCH
Arch Resources, Inc.
ARCH
|
+$9.72M |
| 2 |
YPF Sociedad Anonima ADS
YPF
|
+$5.62M |
| 3 |
Mercer International
MERC
|
+$4.36M |
Sector Composition
| Rank | Sector | Weight |
|---|---|---|
| 1 | Miscellaneous | 70.44% |
| 2 | Energy | 11.95% |
| 3 | Industrials | 5.9% |
| 4 | Utilities | 5.73% |
| 5 | Materials | 3.98% |
| Name | Market Value | Portfolio Weight | Shares or Principal |
Change in Stake | Capital Flow | |
|---|---|---|---|---|---|---|
1
PUT
State Street SPDR S&P 500 ETF Trust
SPY
$803B
| $448M | 65.64% |
1,901,400
+23,300
| +1% | +$5.41M |
|
|
2
YPF Sociedad Anonima ADS
YPF
$22B
| $54.3M | 7.95% |
2,236,420
-261,004
| -10% | -$5.62M |
|
|
GLBL
3
DELISTED
TerraForm Global, Inc. Class A Common Stock
GLBL
| $39.2M | 5.73% |
8,157,500
+877,500
| +12% | +$3.96M |
|
|
4
EQT Corp
EQT
$33.5B
| $27.3M | 4% |
+821,690
| New | +$27.4M |
|
|
5
Mercer International
MERC
$26.3M
| $27.2M | 3.98% |
2,322,791
-370,094
| -14% | -$4.36M |
|
6
Delta Air Lines
DAL
$52.2B
| $25.2M | 3.69% |
548,000
| – | – |
|
|
GNRT
7
DELISTED
Gener8 Maritime, Inc.
GNRT
| $15.1M | 2.21% |
+2,667,600
| New | +$13.3M |
|
|
DISH
8
DELISTED
DISH Network Corp.
DISH
| $9.52M | 1.39% |
150,000
+50,000
| +50% | +$3.09M |
|
9
Enova International
ENVA
$5.57B
| $4.08M | 0.6% |
275,000
| – | – |
|
|
10
PUT
Delta Air Lines
DAL
$52.2B
| – | – |
-315,000
| Closed | -$15.5M |
|
11
CALL
iShares iBoxx $ High Yield Corporate Bond ETF
HYG
$15.2B
| – | – |
-297,500
| Closed | -$25.7M |
|
|
ARCH
12
DELISTED
Arch Resources, Inc.
ARCH
| – | – |
-124,595
| Closed | -$9.72M |
|
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Knighthead Capital Management's Q1 2017 Portfolio in Review
As of Q1 2017, Knighthead Capital Management held 14 positions worth $683M, up 13% from $606M the previous quarter. Its ten largest holdings account for 100% of the portfolio.
Knighthead Capital Management deployed $28.1M of net new capital in Q1 2017, opening 2 new positions and adding to 3 existing holdings. Its largest new stake was EQT Corp: 821,690 shares worth $27.3M.
By sector, the portfolio is most concentrated in Miscellaneous at 70% of assets, down from 76% a quarter earlier, followed by Energy and Industrials.
On the sell side, the largest reduction was YPF Sociedad Anonima ADS, an estimated $5.62M trimmed.
- Knighthead Capital Management's largest Q1 2017 buy was EQT Corp: 821,690 shares worth $27.3M.
- Knighthead Capital Management added most to TerraForm Global, Inc. Class A Common Stock in Q1 2017, an estimated $3.96M increase.
- Knighthead Capital Management's biggest Q1 2017 reduction was YPF Sociedad Anonima ADS, cutting an estimated $5.62M.
- Knighthead Capital Management fully exited Arch Resources, Inc. in Q1 2017, selling an estimated $9.72M.
- Knighthead Capital Management's ten largest holdings make up 100% of its $683M portfolio in Q1 2017.
- Knighthead Capital Management opened 2 new positions and closed 3 in Q1 2017.
- Knighthead Capital Management's portfolio value rose 13% quarter-over-quarter to $683M.
Based on Knighthead Capital Management's 13F filing for Q1 2017, filed 15 May 2017.