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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
+6.85%
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
$702M
AUM Growth
+$1.7M
Cap. Flow
-$88M
Cap. Flow %
-12.54%
Top 10 Hldgs %
99.4%
Holding
13
New
1
Increased
–
Reduced
2
Closed
2

Top Buys

No buys this quarter

Top Sells

Rank Stock Value
1
GLBL
TerraForm Global, Inc. Class A Common Stock
GLBL
+$43.7M
2
EQT icon
EQT Corp
EQT
+$39M
3
YPF icon
YPF
YPF
+$5.81M
4
MERC icon
Mercer International
MERC
+$49.9K

Sector Composition

Rank Sector Weight
1 Real Estate 11.14%
2 Energy 6.2%
3 Materials 4.73%
4 Communication Services 1.36%
5 Financials 0.6%
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
$400M 57.04%
1,500,000
– –
SRC
2
DELISTED
SPIRIT REALTY CAPITAL, INC.
SRC
$78.2M 11.14%
2,032,199
– –
CAR icon
3
PUT
Avis
CAR
$5.37B
$43.9M 6.25%
+1,000,000
New +$39.8M
YPF icon
4
YPF
YPF
$20.4B
$43.5M 6.2%
1,900,409
-253,386
-12% -$5.81M
MERC icon
5
Mercer International
MERC
$39.5M
$33.2M 4.73%
2,319,152
-3,639
-0.2% -$49.9K
TECK icon
6
PUT
Teck Resources
TECK
$30.7B
$26.2M 3.73%
1,000,000
– –
GNRT
7
DELISTED
Gener8 Maritime, Inc.
GNRT
$17.7M 2.52%
2,667,600
– –
DISH
8
DELISTED
DISH Network Corp.
DISH
$9.55M 1.36%
200,000
– –
ENVA icon
9
Enova International
ENVA
$6.31B
$4.18M 0.6%
275,000
– –
EQT icon
10
EQT Corp
EQT
$33B
– –
-1,097,240
Closed -$39M
GLBL
11
DELISTED
TerraForm Global, Inc. Class A Common Stock
GLBL
– –
-9,200,000
Closed -$43.7M

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Knighthead Capital Management's Q4 2017 Portfolio in Review

As of Q4 2017, Knighthead Capital Management held 13 positions worth $702M, up 0.24% from $700M the previous quarter. Its ten largest holdings account for 99% of the portfolio.

Knighthead Capital Management withdrew a net $88M in Q4 2017, closing 2 positions and reducing 2 holdings. Its most notable exit was TerraForm Global, Inc. Class A Common Stock, an estimated $43.7M position sold in full.

By sector, the portfolio is most concentrated in Real Estate at 11% of assets, down from 11% a quarter earlier, followed by Energy and Materials.

  • Knighthead Capital Management's biggest Q4 2017 reduction was YPF, cutting an estimated $5.81M.
  • Knighthead Capital Management fully exited TerraForm Global, Inc. Class A Common Stock in Q4 2017, selling an estimated $43.7M.
  • Knighthead Capital Management's ten largest holdings make up 99% of its $702M portfolio in Q4 2017.
  • Knighthead Capital Management opened 1 new position and closed 2 in Q4 2017.
  • Knighthead Capital Management's portfolio value rose 0.24% quarter-over-quarter to $702M.

Based on Knighthead Capital Management's 13F filing for Q4 2017, filed 14 Feb 2018.