2026 Q2 Portfolio Activity
In 2026 Q2, Knighthead Capital Management, LLC maintained a portfolio of 12 distinct positions. The most significant new addition was STATE STREET SPDR S&P 500 ETF , now representing 31.72% of the total fund value. Conversely, Knighthead Capital Management, LLC completely exited their position in ISHARES TR.
Position History
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Total Positions
12
Quarter
2026 Q2
Top Holding
HTZ (35.0%)
Top 10 Concentration
100.0%
Turnover Rate
23.4%
Sector HHI
0.18
Items per page:
Showing 1-12 of 12
Knighthead Capital Management, LLC Full Holdings List — 2026 Q2
| Stock | History | Sector / Type | Port % | Prev % | Rank / Prev | Conviction | Change | % Change | Influence | Shares | Mkt Value | Avg Cost | Price Held | 1st Owned | Source | Source Date | Date Reported | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
|
HTZ
HERTZ GLOBAL HL...
|
Industrials | 34.99% | 55.04% |
#1
Prev: #1
|
7.0 |
—
|
no change | no change |
P
S
|
181,455,469 | $411,903,915 | 2013 Q4 | 13F Filing | 2026-06-30 | 2026-08-14 | |||
|
SPY
PUT
STATE STREET SP...
|
PUT Option | 31.72% | — |
#2
Prev: #—
|
9.0 |
—
|
500,000 | — |
NEW
|
500,000 | $373,385,000 | 2011 Q1 | 13F Filing | 2026-06-30 | 2026-08-14 | |||
|
HYG
PUT
ISHARES TR
|
PUT Option | 10.19% | 10.47% |
#3
Prev: #3
|
5.0 |
—
|
-500,000 | -25.0% |
P
S
|
1,500,000 | $119,955,000 | 2015 Q2 | 13F Filing | 2026-06-30 | 2026-08-14 | |||
|
N/A
WHEELS UP EXPER...
|
|
Unknown | 9.84% | — |
#4
Prev: #—
|
7.9 |
—
|
12,908,460 | — |
NEW
|
12,908,460 | $115,788,881 | — | 13F Filing | 2026-06-30 | 2026-08-14 | ||
|
SATS
CALL
ECHOSTAR CORP
|
CALL Option | 4.10% | — |
#5
Prev: #—
|
5.6 |
—
|
475,000 | — |
NEW
|
475,000 | $48,212,500 | 2024 Q3 | 13F Filing | 2026-06-30 | 2026-08-14 | |||
|
SATS
PUT
ECHOSTAR CORP
|
PUT Option | 3.23% | — |
#6
Prev: #—
|
4.8 |
—
|
375,000 | — |
NEW
|
375,000 | $38,062,500 | 2024 Q3 | 13F Filing | 2026-06-30 | 2026-08-14 | |||
|
SRAD
CALL
SPORTRADAR GROU...
|
CALL Option | 2.54% | — |
#7
Prev: #—
|
4.5 |
—
|
2,000,000 | — |
NEW
|
2,000,000 | $29,940,000 | 2026 Q2 | 13F Filing | 2026-06-30 | 2026-08-14 | |||
|
TDS
TELEPHONE & DAT...
|
Communication Services | 1.40% | 1.23% |
#8
3
Prev: #5
|
1.6 |
—
|
no change | no change |
P
S
|
445,695 | $16,495,172 | 2025 Q3 | 13F Filing | 2026-06-30 | 2026-08-14 | |||
|
N/A
AZUL S A
|
|
Unknown | 1.36% | — |
#9
Prev: #—
|
4.0 |
—
|
1,773,734 | — |
NEW
|
1,773,734 | $15,954,955 | — | 13F Filing | 2026-06-30 | 2026-08-14 | ||
|
TDS
CALL
TELEPHONE & DAT...
|
CALL Option | 0.63% | — |
#10
Prev: #—
|
3.8 |
—
|
200,000 | — |
NEW
|
200,000 | $7,418,000 | 2025 Q3 | 13F Filing | 2026-06-30 | 2026-08-14 | |||
|
UP
WHEELS UP EXPER...
|
Industrials | 0.00% | 8.77% |
Sold All 😨
(Was: #4) |
0.0 |
—
|
-258,169,208 | -100.0% |
CLOSED
|
— | $— | 2023 Q3 | 13F Filing | 2026-06-30 | 2026-08-14 | |||
|
IWM
PUT
ISHARES TR
|
PUT Option | 0.00% | 24.48% |
Sold All 😨
(Was: #2) |
0.0 |
—
|
-1,500,000 | -100.0% |
CLOSED
|
— | $— | 2020 Q3 | 13F Filing | 2026-06-30 | 2026-08-14 |
Showing 1-12 of 12 holdings