Data as of Q4 2025 (Dec 31, 2025)
⏳
Showing Q3 2024 data
Knighthead Capital Management, LLC's Q4 2025 filing not yet available. Expected by Feb 14, 2026.

Knighthead Capital Management, LLC

•CIK: 1512397•Filing: Q3 2024

**Knighthead Capital Management, LLC** manages $1.9B across a focused portfolio of 9 positions. The fund exhibits significant concentration, with its top two holdings, UP and HTZ, accounting for over $1.2 billion combined. Notable allocations include a substantial $286.9M in SPY and $240.9M in HYG, suggesting a blend of broad market exposure and fixed-income duration plays. This structure indicates a conviction-driven approach targeting specific, high-conviction market segments.

Total AUM
$1.9B
QoQ Performance
+63.7%
Positions
8
Top 10 Concentration
100.0%
Latest Filing
Q3 2024

Top Holdings Allocation

UP
HTZ
SPY
HYG
IWM
UP32.5%
HTZ31.1%
SPY14.9%
HYG12.5%
IWM5.7%
GLOBAL2.6%
BRAEMAR0.3%
SATS0.1%

📈 Biggest Buys

HYG
ISHARES TR
+200.0%
12.5% of portfolio
—
BRAEMAR HOTELS & RESORTS INC
NEW
0.3% of portfolio
SATS
ECHOSTAR CORP
NEW
0.1% of portfolio

📉 Biggest Sells

SPY
SPDR S&P 500 ETF TR
-50.0%
14.9% of portfolio
IWM
ISHARES TR
-50.0%
5.7% of portfolio

Sector Breakdown

Other53.9%
Consumer31.1%
ETF14.9%

🚪 Exited Positionssold since Q2 2024

TLT
ISHARES TR
SOLD
$91.8M

Changes from Q2 2024

NEW2 new positions
↑1 increased
↓2 decreased

Historical Filings

Q3 2024Q2 2024Q1 2024Q4 2023

📌 Top Holdings

UP32.5%
WHEELS UP EXPERIENCE INC
$624.8M
HTZ31.1%
HERTZ GLOBAL HLDGS INC
$598.8M
SPY14.9%
SPDR S&P 500 ETF TR
$286.9M
HYG12.5%
ISHARES TR
$240.9M
IWM5.7%
ISHARES TR
$110.4M

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