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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
-25.94%
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
$3.13B
AUM Growth
-$1.72B
Cap. Flow
-$620M
Cap. Flow %
-19.82%
Top 10 Hldgs %
100%
Holding
14
New
1
Increased
1
Reduced
1
Closed
5

Top Buys

Rank Stock Value
1
UP icon
Wheels Up
UP
+$122M

Top Sells

Rank Stock Value
1
BHR
Braemar Hotels & Resorts
BHR
+$6.03M
2
WE
WeWork Inc.
WE
+$465K

Sector Composition

Rank Sector Weight
1 Industrials 75.06%
2 Technology 1.8%
3 Healthcare 0.07%
4 Real Estate 0%
Name Market Value Portfolio Weight Shares or Principal Change
in Stake 		Capital Flow
HTZ icon
1
Hertz
HTZ
$524M
$2.22B 71.05%
181,455,469
– –
SPY icon
2
PUT
State Street SPDR S&P 500 ETF Trust
SPY
$784B
$427M 13.66%
1,000,000
-1,000,000
-50% -$445M
IWM icon
3
PUT
iShares Russell 2000 ETF
IWM
$80.2B
$265M 8.47%
1,500,000
+500,000
+50% +$93.9M
UP icon
4
Wheels Up
UP
$217M
$125M 4.01%
+3,028,150
New +$122M
GB
5
DELISTED
Global Blue Group Holding
GB
$56.5M 1.8%
9,286,969
– –
ATIP
6
DELISTED
ATI Physical Therapy, Inc.
ATIP
$2.29M 0.07%
258,600
– –
BHR
7
Braemar Hotels & Resorts
BHR
$160M
– –
-1,498,937
Closed -$6.03M
IWM icon
8
CALL
iShares Russell 2000 ETF
IWM
$80.2B
– –
-500,000
Closed -$93.6M
SABR icon
9
CALL
Sabre
SABR
$739M
– –
-4,000,000
Closed -$12.8M
SPY icon
10
CALL
State Street SPDR S&P 500 ETF Trust
SPY
$784B
– –
-500,000
Closed -$222M
WE
11
DELISTED
WeWork Inc.
WE
– –
-45,563
Closed -$465K

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Knighthead Capital Management's Q3 2023 Portfolio in Review

As of Q3 2023, Knighthead Capital Management held 14 positions worth $3.13B, down 35% from $4.85B the previous quarter. Its ten largest holdings account for 100% of the portfolio.

Knighthead Capital Management withdrew a net $620M in Q3 2023, closing 5 positions and reducing 1 holding. Its most notable exit was Braemar Hotels & Resorts, an estimated $6.03M position sold in full.

By sector, the portfolio is most concentrated in Industrials at 75% of assets, up from 69% a quarter earlier, followed by Technology and Healthcare.

Against the trend, Knighthead Capital Management opened a new position in Wheels Up worth $125M.

  • Knighthead Capital Management's largest Q3 2023 buy was Wheels Up: 3,028,150 shares worth $125M.
  • Knighthead Capital Management fully exited Braemar Hotels & Resorts in Q3 2023, selling an estimated $6.03M.
  • Knighthead Capital Management's ten largest holdings make up 100% of its $3.13B portfolio in Q3 2023.
  • Knighthead Capital Management opened 1 new position and closed 5 in Q3 2023.
  • Knighthead Capital Management's portfolio value fell 35% quarter-over-quarter to $3.13B.

Based on Knighthead Capital Management's 13F filing for Q3 2023, filed 14 Nov 2023.