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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
-10.02%
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
$1.45B
AUM Growth
+$796M
(+123%)
Cap. Flow
+$810M
Cap. Flow
% of AUM
56.06%
Top 10 Holdings %
Top 10 Hldgs %
99.68%
Holding
19
New
5
Increased
3
Reduced
1
Closed
7
Top Buys
| Rank | Stock | Value |
|---|---|---|
| 1 |
WPF
Foley Trasimene Acquisition Corp.
WPF
|
+$33.5M |
| 2 |
Sabre
SABR
|
+$18.6M |
| 3 |
Meta Platforms (Facebook)
META
|
+$4.86M |
| 4 |
BHR
Braemar Hotels & Resorts
BHR
|
+$2.16M |
Top Sells
| Rank | Stock | Value |
|---|---|---|
| 1 |
ETRN
Equitrans Midstream Corporation Common Stock
ETRN
|
+$8.16M |
| 2 |
Enterprise Products Partners
EPD
|
+$604K |
Sector Composition
| Rank | Sector | Weight |
|---|---|---|
| 1 | Utilities | 6.84% |
| 2 | Technology | 5.8% |
| 3 | Industrials | 2.23% |
| 4 | Communication Services | 0.65% |
| 5 | Energy | 0.42% |
| Name | Market Value | Portfolio Weight | Shares or Principal |
Change in Stake | Capital Flow | |
|---|---|---|---|---|---|---|
1
PUT
State Street SPDR S&P 500 ETF Trust
SPY
$784B
| $856M | 59.23% |
+2,000,000
| New | +$835M |
|
2
PUT
iShares iBoxx $ High Yield Corporate Bond ETF
HYG
$15.9B
| $264M | 18.27% |
3,000,000
+250,000
| +9% | +$21.8M |
|
3
PG&E
PCG
$39.2B
| $98.9M | 6.85% |
9,728,846
| – | – |
|
|
4
Sabre
SABR
$739M
| $83.9M | 5.8% |
6,720,024
+1,323,900
| +25% | +$18.6M |
|
5
PUT
Avis
CAR
$5.37B
| $39.7M | 2.75% |
+510,100
| New | +$42.3M |
|
|
WPF
6
DELISTED
Foley Trasimene Acquisition Corp.
WPF
| $32.3M | 2.23% |
+3,301,707
| New | +$33.5M |
|
|
7
PUT
PG&E
PCG
$39.2B
| $25.4M | 1.76% |
+2,500,000
| New | +$26.8M |
|
|
8
CALL
Sabre
SABR
$739M
| $25M | 1.73% |
2,000,000
-1,500,000
| -43% | -$21.1M |
|
|
9
Meta Platforms (Facebook)
META
$1.37T
| $9.35M | 0.65% |
26,875
+15,160
| +129% | +$4.86M |
|
10
Genesis Energy
GEL
$1.87B
| $6.13M | 0.42% |
528,222
| – | – |
|
11
Amazon
AMZN
$2.53T
| $2.48M | 0.17% |
14,400
| – | – |
|
|
BHR
12
Braemar Hotels & Resorts
BHR
$160M
| $2.18M | 0.15% |
+350,568
| New | +$2.16M |
|
|
13
CALL
Amazon
AMZN
$2.53T
| – | – |
-120,000
| Closed | -$18.6M |
|
|
14
Enterprise Products Partners
EPD
$82.5B
| – | – |
-27,437
| Closed | -$604K |
|
15
CALL
EPR Properties
EPR
$4.9B
| – | – |
-100,000
| Closed | -$4.66M |
|
|
16
CALL
Meta Platforms (Facebook)
META
$1.37T
| – | – |
-66,000
| Closed | -$19.4M |
|
17
CALL
Sysco
SYY
$40.6B
| – | – |
-500,000
| Closed | -$39.4M |
|
18
CALL
Wynn Resorts
WYNN
$10.5B
| – | – |
-500,000
| Closed | -$62.7M |
|
|
ETRN
19
DELISTED
Equitrans Midstream Corporation Common Stock
ETRN
| – | – |
-1,000,000
| Closed | -$8.16M |
|
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Knighthead Capital Management's Q2 2021 Portfolio in Review
As of Q2 2021, Knighthead Capital Management held 19 positions worth $1.45B, up 123% from $649M the previous quarter. Its ten largest holdings account for 100% of the portfolio.
Knighthead Capital Management deployed $810M of net new capital in Q2 2021, opening 5 new positions and adding to 3 existing holdings. Its largest new stake was Foley Trasimene Acquisition Corp.: 3,301,707 shares worth $32.3M.
By sector, the portfolio is most concentrated in Utilities at 6.8% of assets, down from 18% a quarter earlier, followed by Technology and Industrials.
On the sell side, the most notable exit was Equitrans Midstream Corporation Common Stock, an estimated $8.16M sold.
- Knighthead Capital Management's largest Q2 2021 buy was Foley Trasimene Acquisition Corp.: 3,301,707 shares worth $32.3M.
- Knighthead Capital Management added most to Sabre in Q2 2021, an estimated $18.6M increase.
- Knighthead Capital Management fully exited Equitrans Midstream Corporation Common Stock in Q2 2021, selling an estimated $8.16M.
- Knighthead Capital Management's ten largest holdings make up 100% of its $1.45B portfolio in Q2 2021.
- Knighthead Capital Management opened 5 new positions and closed 7 in Q2 2021.
- Knighthead Capital Management's portfolio value rose 123% quarter-over-quarter to $1.45B.
Based on Knighthead Capital Management's 13F filing for Q2 2021, filed 16 Aug 2021.