We are live on
!
Find out more
KCM
Knighthead Capital Management Portfolio holdings
AUM
$1.18B
1-Year Est. Return
54.89%
This Fund
S&P 500
This Quarter
Est. Return
+13.67%
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
$543M
AUM Growth
+$29.3M
(+5.7%)
Cap. Flow
+$123M
Cap. Flow
% of AUM
22.57%
Top 10 Holdings %
Top 10 Hldgs %
97.39%
Holding
21
New
9
Increased
1
Reduced
2
Closed
5
Top Buys
| Rank | Stock | Value |
|---|---|---|
| 1 |
PG&E
PCG
|
+$80.8M |
| 2 |
Marathon Petroleum
MPC
|
+$46.6M |
| 3 |
ETRN
Equitrans Midstream Corporation Common Stock
ETRN
|
+$5.91M |
| 4 |
Sabre
SABR
|
+$3.54M |
| 5 |
Genesis Energy
GEL
|
+$1.81M |
Top Sells
| Rank | Stock | Value |
|---|---|---|
| 1 |
Sunstone Hotel Investors
SHO
|
+$8.71M |
| 2 |
Energy Transfer Partners
ET
|
+$7.14M |
| 3 |
TRTX
TPG RE Finance Trust
TRTX
|
+$272K |
Sector Composition
| Rank | Sector | Weight |
|---|---|---|
| 1 | Miscellaneous | 48.54% |
| 2 | Utilities | 36.43% |
| 3 | Energy | 11.78% |
| 4 | Materials | 1.62% |
| 5 | Healthcare | 0.89% |
| Name | Market Value | Portfolio Weight | Shares or Principal |
Change in Stake | Capital Flow | |
|---|---|---|---|---|---|---|
|
1
PG&E
PCG
$30.2B
| $198M | 36.43% |
22,296,856
+7,413,335
| +50% | +$80.8M |
|
2
PUT
State Street SPDR S&P 500 ETF Trust
SPY
$803B
| $170M | 31.36% |
552,000
-548,000
| -50% | -$160M |
|
|
3
Marathon Petroleum
MPC
$110B
| $54.2M | 9.99% |
+1,450,555
| New | +$46.6M |
|
4
PUT
iShares iBoxx $ Investment Grade Corporate Bond ETF
LQD
$29.2B
| $40.8M | 7.52% |
+500,000
| New | +$65M |
|
|
5
CALL
Sabre
SABR
$868M
| $16.1M | 2.97% |
+2,000,000
| New | +$14.2M |
|
6
CALL
JPMorgan Chase
JPM
$934B
| $14.1M | 2.6% |
+150,000
| New | +$14.2M |
|
|
7
CALL
PG&E
PCG
$30.2B
| $13.3M | 2.45% |
+1,500,000
| New | +$16.3M |
|
8
Mercer International
MERC
$26.4M
| $8.76M | 1.61% |
1,073,622
| – | – |
|
|
9
CALL
Energy Transfer Partners
ET
$73.9B
| $7.12M | 1.31% |
+1,000,000
| New | +$7.41M |
|
|
ETRN
10
DELISTED
Equitrans Midstream Corporation Common Stock
ETRN
| $6.23M | 1.15% |
+750,000
| New | +$5.91M |
|
11
HCA Healthcare
HCA
$91.5B
| $4.85M | 0.89% |
50,000
| – | – |
|
|
12
Sabre
SABR
$868M
| $4.03M | 0.74% |
+500,000
| New | +$3.54M |
|
|
13
Genesis Energy
GEL
$1.89B
| $1.92M | 0.35% |
+266,378
| New | +$1.81M |
|
|
14
Energy Transfer Partners
ET
$73.9B
| $1.55M | 0.29% |
217,334
-963,666
| -82% | -$7.14M |
|
15
Alpha Metallurgical Resources
AMR
$2.53B
| $30K | 0.01% |
10,000
| – | – |
|
|
16
CALL
HCA Healthcare
HCA
$91.5B
| – | – |
-100,000
| Closed | -$11M |
|
|
17
CALL
iShares iBoxx $ Investment Grade Corporate Bond ETF
LQD
$29.2B
| – | – |
-250,000
| Closed | -$30.9M |
|
|
18
Sunstone Hotel Investors
SHO
$2.03B
| – | – |
-1,000,000
| Closed | -$8.71M |
|
|
TRTX
19
TPG RE Finance Trust
TRTX
$564M
| – | – |
-49,522
| Closed | -$272K |
|
20
CALL
United Airlines
UAL
$35.2B
| – | – |
-750,000
| Closed | -$23.7M |
|
Similar funds
CF
TPI
TWM
KBFS
CA
MI
NFG
FSWA
Knighthead Capital Management's Q2 2020 Portfolio in Review
As of Q2 2020, Knighthead Capital Management held 21 positions worth $543M, up 5.7% from $514M the previous quarter. Its ten largest holdings account for 97% of the portfolio.
Knighthead Capital Management deployed $123M of net new capital in Q2 2020, opening 9 new positions and adding to 1 existing holding. Its largest new stake was Marathon Petroleum: 1,450,555 shares worth $54.2M.
By sector, the portfolio is most concentrated in Miscellaneous at 49% of assets, down from 69% a quarter earlier, followed by Utilities and Energy.
On the sell side, the largest reduction was Energy Transfer Partners, an estimated $7.14M trimmed.
- Knighthead Capital Management's largest Q2 2020 buy was Marathon Petroleum: 1,450,555 shares worth $54.2M.
- Knighthead Capital Management added most to PG&E in Q2 2020, an estimated $80.8M increase.
- Knighthead Capital Management's biggest Q2 2020 reduction was Energy Transfer Partners, cutting an estimated $7.14M.
- Knighthead Capital Management fully exited Sunstone Hotel Investors in Q2 2020, selling an estimated $8.71M.
- Knighthead Capital Management's ten largest holdings make up 97% of its $543M portfolio in Q2 2020.
- Knighthead Capital Management opened 9 new positions and closed 5 in Q2 2020.
- Knighthead Capital Management's portfolio value rose 5.7% quarter-over-quarter to $543M.
Based on Knighthead Capital Management's 13F filing for Q2 2020, filed 14 Aug 2020.