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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
+3.77%
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
$700M
AUM Growth
+$99.1M
Cap. Flow
+$45.7M
Cap. Flow %
6.53%
Top 10 Hldgs %
98.19%
Holding
13
New
2
Increased
–
Reduced
1
Closed
1

Top Buys

Rank Stock Value
1
SRC
SPIRIT REALTY CAPITAL, INC.
SRC
+$75.1M

Top Sells

Rank Stock Value
1
DAL icon
Delta Air Lines
DAL
+$12.6M
2
YPF icon
YPF
YPF
+$675K

Sector Composition

Rank Sector Weight
1 Energy 12.42%
2 Real Estate 11.16%
3 Utilities 6.24%
4 Materials 3.93%
5 Communication Services 1.55%
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
$377M 53.83%
1,500,000
– –
SRC
2
DELISTED
SPIRIT REALTY CAPITAL, INC.
SRC
$78.1M 11.16%
+2,032,199
New +$75.1M
YPF icon
3
YPF
YPF
$20.4B
$48M 6.85%
2,153,795
-32,725
-1% -$675K
GLBL
4
DELISTED
TerraForm Global, Inc. Class A Common Stock
GLBL
$43.7M 6.24%
9,200,000
– –
EQT icon
5
EQT Corp
EQT
$33B
$39M 5.57%
1,097,240
– –
MERC icon
6
Mercer International
MERC
$39.5M
$27.5M 3.93%
2,322,791
– –
TECK icon
7
PUT
Teck Resources
TECK
$30.7B
$21.1M 3.01%
+1,000,000
New +$21.8M
GNRT
8
DELISTED
Gener8 Maritime, Inc.
GNRT
$12M 1.72%
2,667,600
– –
DISH
9
DELISTED
DISH Network Corp.
DISH
$10.8M 1.55%
200,000
– –
ENVA icon
10
Enova International
ENVA
$6.31B
$3.7M 0.53%
275,000
– –
DAL icon
11
Delta Air Lines
DAL
$58.3B
– –
-234,374
Closed -$12.6M

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Knighthead Capital Management's Q3 2017 Portfolio in Review

As of Q3 2017, Knighthead Capital Management held 13 positions worth $700M, up 16% from $601M the previous quarter. Its ten largest holdings account for 98% of the portfolio.

Knighthead Capital Management deployed $45.7M of net new capital in Q3 2017, opening 2 new positions. Its largest new stake was SPIRIT REALTY CAPITAL, INC.: 2,032,199 shares worth $78.1M.

By sector, the portfolio is most concentrated in Energy at 12% of assets, down from 14% a quarter earlier, followed by Real Estate and Utilities.

On the sell side, the largest reduction was YPF, an estimated $675K trimmed.

  • Knighthead Capital Management's largest Q3 2017 buy was SPIRIT REALTY CAPITAL, INC.: 2,032,199 shares worth $78.1M.
  • Knighthead Capital Management's biggest Q3 2017 reduction was YPF, cutting an estimated $675K.
  • Knighthead Capital Management fully exited Delta Air Lines in Q3 2017, selling an estimated $12.6M.
  • Knighthead Capital Management's ten largest holdings make up 98% of its $700M portfolio in Q3 2017.
  • Knighthead Capital Management opened 2 new positions and closed 1 in Q3 2017.
  • Knighthead Capital Management's portfolio value rose 16% quarter-over-quarter to $700M.

Based on Knighthead Capital Management's 13F filing for Q3 2017, filed 14 Nov 2017.