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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
-44.39%
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
$713M
AUM Growth
-$6.37M
Cap. Flow
-$57.6M
Cap. Flow %
-8.09%
Top 10 Hldgs %
100%
Holding
11
New
–
Increased
3
Reduced
1
Closed
3

Top Buys

Rank Stock Value
1
PCG icon
PG&E
PCG
+$11M
2
AMR icon
Alpha Metallurgical Resources
AMR
+$3.79M

Top Sells

Rank Stock Value
1
AVYA
Avaya Holdings Corp. Common Stock
AVYA
+$15.9M
2
SMTA
Spirit MTA REIT Common Shares of Beneficial Interest
SMTA
+$10.7M
3
HUM icon
Humana
HUM
+$2.65M

Sector Composition

Rank Sector Weight
1 Miscellaneous 71.86%
2 Utilities 20.18%
3 Communication Services 4.03%
4 Materials 3.93%
5 Healthcare 0%
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
$804B
$475M 66.63%
1,600,000
+1,000,000
+167% +$295M
PCG icon
2
PG&E
PCG
$30.2B
$144M 20.18%
14,383,521
+729,000
+5% +$11M
MERC icon
3
Mercer International
MERC
$26.4M
$24.4M 3.43%
1,948,179
– –
OIBR.C
4
DELISTED
OI S.A. American Depositary Shares, each representing five shares of common stock
OIBR.C
$21.9M 3.07%
19,900,953
– –
PCG icon
5
CALL
PG&E
PCG
$30.2B
$17M 2.38%
1,698,200
-1,749,800
-51% -$26.5M
DISH
6
DELISTED
DISH Network Corp.
DISH
$6.81M 0.96%
200,000
– –
AMR icon
7
Alpha Metallurgical Resources
AMR
$2.53B
$3.57M 0.5%
127,812
+109,138
+584% +$3.79M
HUM icon
8
Humana
HUM
$49.6B
– –
-10,000
Closed -$2.65M
AVYA
9
DELISTED
Avaya Holdings Corp. Common Stock
AVYA
– –
-1,332,069
Closed -$15.9M
SMTA
10
DELISTED
Spirit MTA REIT Common Shares of Beneficial Interest
SMTA
– –
-1,286,908
Closed -$10.7M

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Knighthead Capital Management's Q3 2019 Portfolio in Review

As of Q3 2019, Knighthead Capital Management held 11 positions worth $713M, down 0.89% from $719M the previous quarter. Its ten largest holdings account for 100% of the portfolio.

Knighthead Capital Management withdrew a net $57.6M in Q3 2019, closing 3 positions and reducing 1 holding. Its most notable exit was Avaya Holdings Corp. Common Stock, an estimated $15.9M position sold in full.

By sector, the portfolio is most concentrated in Miscellaneous at 72% of assets, up from 41% a quarter earlier, followed by Utilities and Communication Services.

Against the trend, Knighthead Capital Management added an estimated $11M to PG&E.

  • Knighthead Capital Management added most to PG&E in Q3 2019, an estimated $11M increase.
  • Knighthead Capital Management fully exited Avaya Holdings Corp. Common Stock in Q3 2019, selling an estimated $15.9M.
  • Knighthead Capital Management's ten largest holdings make up 100% of its $713M portfolio in Q3 2019.
  • Knighthead Capital Management opened 0 new positions and closed 3 in Q3 2019.
  • Knighthead Capital Management's portfolio value fell 0.89% quarter-over-quarter to $713M.

Based on Knighthead Capital Management's 13F filing for Q3 2019, filed 14 Nov 2019.