Knighthead Capital Management, LLC
CIK
1512397
Location
NEW YORK, NY
Portfolio Value
Small
$988,746,951
Diversification
Highly concentrated
Filing Date
Global Rank
#1,518
/ 8,232
▼ 7
Top Industry
Rental & Leasing Services
84.6%
3Y Alpha vs SPY
-42.0%
Period ended 2 months ago
Filed May 15, 2026 · 30d
25 quarters · since Mar 2020
Clone Performance
Jun 2023–Jun 2026 · vs SPYHypothetical growth of cloning every reported 13F position and rebalancing on each filing, indexed to the same start.
Cloned portfolio
-51.0%
SPY
+76.3%
Annualised alpha
-42.0%
Max drawdown
−83.2%
Estimate. 13F holdings are quarter-lagged and long-only, so the clone rebalances about 45 days after each period end — when the filing becomes public — and excludes options and short positions. Past performance does not predict future results.
Portfolio Concentration
3 positions · as of Mar 31, 2026 · Δ vs Dec 31, 2025Top Position
84.6%
+2.6 pts
Top 5
100.0%
0.0 pts
Top 10
100.0%
0.0 pts
HHI
7,344
Highly concentrated+385
Portfolio Trend
25 quarters · across all stocks
Sector Breakdown
As of Mar 31, 2026| Sector | % Portfolio | Value |
|---|---|---|
| Industrials | 98.1% | $969,983,192 |
| Communication Services | 1.9% | $18,763,759 |
Last Quarter's Activity
Export CSVAdded To
Positions the filer increasedNo qualifying positions this quarter.
Trimmed
Positions the filer reduced
1 positions
| Ticker | Company | Δ Shares | Shares | Value | Open |
|---|---|---|---|---|---|
| TDS | Telephone & Data Systems Inc /De/ | −70,305 | 445,695 | $18,763,759 | |
| No positions match the current search. | |||||
New Positions
Positions the filer opened this quarterNo qualifying positions this quarter.
Sold Out
Positions the filer fully exited
1 positions
| Ticker | Company | Shares | Value | Open |
|---|---|---|---|---|
| SATS | EchoStar CORP | 125,031 | $13,590,869 | |
| No positions match the current search. | ||||
3 positions ·
$988,746,951 total
· as of Mar 31, 2026
| Ticker | Company | Type | Shares | Value (USD) | % of Portfolio | History |
|---|---|---|---|---|---|---|
| HTZ |
Hertz Global Holdings, Inc
Industrials
|
Held | 181,455,469 | $836,509,712 | 84.60% | |
| UP |
Wheels Up Experience Inc.
Industrials
|
Held | 258,169,208 | $133,473,480 | 13.50% | |
| TDS |
Telephone & Data Systems Inc /De/
Communication Services
|
Reduced | 445,695 | $18,763,759 | 1.90% |