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Disclosery

Knighthead Capital Management, LLC

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13F filer, CIK 1512397, NEW YORK, NY

Knighthead Capital Management, LLC reported $1,177,115,923 across 10 holdings for the quarter ended 2026-06-30, in a 13F-HR filed 2026-08-14.

Filed (acceptance time not in the bulk data set), ingested 13F-HR 0001012975-26-000784

Period
2026-06-30
Reported value
$1.18B
Holdings
10
Top 10 weight
100%
New
7
Sold out
2

Part of the filer group Knighthead Capital Management, LLC

How groups are built

Largest buys vs the previous quarter

SecurityShares changeApprox. value
UPnew+12,908,460$116M
AZULnew+1,773,734$16M

Ranked by the share change valued at this quarter's implied price (value over shares in the 13F). A position sold out is valued at the previous quarter's price, its last report.

Largest sells vs the previous quarter

SecurityShares changeApprox. value
UPexited-258,169,208-$133M

Ranked by the share change valued at this quarter's implied price (value over shares in the 13F). A position sold out is valued at the previous quarter's price, its last report.

Holdings, Q2 2026

Share positions as resolved from 13F-HR 0001012975-26-000784, largest first. % of portfolio is the value over $560,142,923, the sum of the share positions whose value is usable for ratios (method).

SecurityHistorySharesValue% of portfolioChangeLatest eventTimeline
HTZHERTZ GLOBAL HLDGS INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q3: 181,455,474 shares; 2024Q4: 181,455,469 shares; 2025Q1: 181,455,469 shares; 2025Q2: 181,455,469 shares; 2025Q3: 181,455,469 shares; 2025Q4: 181,455,469 shares; 2026Q1: 181,455,469 shares; 2026Q2: 181,455,469 shares 181,455,469$412M73.54%0Timeline
UPWHEELS UP EXPERIENCE INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q3: not reported; 2024Q4: not reported; 2025Q1: not reported; 2025Q2: not reported; 2025Q3: not reported; 2025Q4: not reported; 2026Q1: not reported; 2026Q2: 12,908,460 shares 12,908,460$116M20.67%newTimeline
TDSTELEPHONE & DATA SYS INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q3: not reported; 2024Q4: not reported; 2025Q1: not reported; 2025Q2: not reported; 2025Q3: 171,939 shares; 2025Q4: 516,000 shares; 2026Q1: 445,695 shares; 2026Q2: 445,695 shares 445,695$16.5M2.94%0Timeline
AZULAZUL S AQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q3: not reported; 2024Q4: not reported; 2025Q1: not reported; 2025Q2: not reported; 2025Q3: not reported; 2025Q4: not reported; 2026Q1: not reported; 2026Q2: 1,773,734 shares 1,773,734$16M2.85%newTimeline

Options

Puts and calls, as filed. The amount and value describe the underlying shares, not the option premium, so they stay out of % of portfolio (H5).

SecurityTypeAmountValueChange
SPYSTATE STR SPDR S&P 500 ETF T SHSput500,000$373Mnew
HYGISHARES TR IBOXX HI YD ETFput1,500,000$120M-500,000
ECHOECHOSTAR CORP CL Acall475,000$48.2Mnew
ECHOECHOSTAR CORP CL Aput375,000$38.1Mnew
SRADSPORTRADAR GROUP AG COMcall2,000,000$29.9Mnew
TDSTELEPHONE & DATA SYS INC COM NEWcall200,000$7.42Mnew

Sold out in Q2 2026

Positions in the previous quarter's report that this quarter's report no longer lists.

SecurityShares beforeValue beforeType
IWMISHARES TR1,500,000$372Mput
UPWHEELS UP EXPERIENCE INC258,169,208$133Mshares

How Q2 2026 was built

Available 13F filings of this filer for the quarter and their roles: the base report is the latest original or restatement, NEW HOLDINGS amendments filed after it are added (method).

FilingRoleAmendmentFiledAcceptedIngested
13F-HR 0001012975-26-000784 base2026-08-14acceptance time not in the bulk data set

Filings

Every filing of this filer: 13F reports and notices, the 13D and 13G it filed or is a reporting person of, and Forms 3, 4 and 5 it reported as an owner.

FilingSubjectFiledAcceptedIngested
13F-HR 0001012975-26-000784 Quarter ended 2026-06-302026-08-14acceptance time not in the bulk data set
13F-HR 0001012975-26-000450 Quarter ended 2026-03-312026-05-15acceptance time not in the bulk data set
13F-HR 0001012975-26-000167 Quarter ended 2025-12-312026-02-17acceptance time not in the bulk data set
13F-HR 0001012975-25-000778 Quarter ended 2025-09-302025-11-14acceptance time not in the bulk data set
13F-HR 0001012975-25-000452 Quarter ended 2025-06-302025-08-14acceptance time not in the bulk data set
13F-HR 0001012975-25-000250 Quarter ended 2025-03-312025-05-15acceptance time not in the bulk data set
13F-HR 0001012975-25-000102 Quarter ended 2024-12-312025-02-14acceptance time not in the bulk data set
13F-HR 0001012975-24-000484 Quarter ended 2024-09-302024-11-14acceptance time not in the bulk data set
13F-HR 0002004220-24-000005 Quarter ended 2024-06-302024-08-14acceptance time not in the bulk data set
13F-HR 0001012975-24-000219 Quarter ended 2024-03-312024-05-15acceptance time not in the bulk data set
13F-HR 0001012975-24-000091 Quarter ended 2023-12-312024-02-14acceptance time not in the bulk data set
13F-HR/A 0001012975-23-000480 Quarter ended 2023-09-302023-11-15acceptance time not in the bulk data set
13F-HR 0001012975-23-000473 Quarter ended 2023-09-302023-11-14acceptance time not in the bulk data set
13F-HR 0001012975-23-000346 Quarter ended 2023-06-302023-08-14acceptance time not in the bulk data set
13F-HR 0001012975-23-000233 Quarter ended 2023-03-312023-05-15acceptance time not in the bulk data set
13F-HR 0001012975-23-000097 Quarter ended 2022-12-312023-02-14acceptance time not in the bulk data set
13F-HR 0001012975-22-000499 Quarter ended 2022-09-302022-11-14acceptance time not in the bulk data set
13F-HR 0001012975-22-000369 Quarter ended 2022-06-302022-08-15acceptance time not in the bulk data set
13F-HR 0001012975-22-000228 Quarter ended 2022-03-312022-05-16acceptance time not in the bulk data set
13F-HR 0001012975-22-000095 Quarter ended 2021-12-312022-02-14acceptance time not in the bulk data set
13F-HR 0001012975-21-000459 Quarter ended 2021-09-302021-11-15acceptance time not in the bulk data set
13F-HR 0001012975-21-000307 Quarter ended 2021-06-302021-08-16acceptance time not in the bulk data set
13F-HR 0001012975-21-000220 Quarter ended 2021-03-312021-05-17acceptance time not in the bulk data set
13F-HR 0001012975-21-000085 Quarter ended 2020-12-312021-02-16acceptance time not in the bulk data set
13F-HR 0001012975-20-000827 Quarter ended 2020-09-302020-11-16acceptance time not in the bulk data set
13F-HR 0001012975-20-000693 Quarter ended 2020-06-302020-08-14acceptance time not in the bulk data set
13F-HR 0001012975-20-000453 Quarter ended 2020-03-312020-05-15acceptance time not in the bulk data set
13F-HR 0001012975-20-000134 Quarter ended 2019-12-312020-02-14acceptance time not in the bulk data set
13F-HR 0001012975-19-000696 Quarter ended 2019-09-302019-11-14acceptance time not in the bulk data set
13F-HR 0001012975-19-000570 Quarter ended 2019-06-302019-08-14acceptance time not in the bulk data set
13F-HR 0001012975-19-000372 Quarter ended 2019-03-312019-05-15acceptance time not in the bulk data set
13F-HR 0001012975-19-000167 Quarter ended 2018-12-312019-02-14acceptance time not in the bulk data set
13F-HR 0001012975-18-001228 Quarter ended 2018-09-302018-11-14acceptance time not in the bulk data set
13F-HR 0001012975-18-001019 Quarter ended 2018-06-302018-08-14acceptance time not in the bulk data set
13F-HR 0001012975-18-000427 Quarter ended 2018-03-312018-05-15acceptance time not in the bulk data set
13F-HR 0001012975-18-000182 Quarter ended 2017-12-312018-02-14acceptance time not in the bulk data set
13F-HR 0001012975-17-000838 Quarter ended 2017-09-302017-11-14acceptance time not in the bulk data set
13F-HR 0001012975-17-000611 Quarter ended 2017-06-302017-08-14acceptance time not in the bulk data set
13F-HR 0001012975-17-000412 Quarter ended 2017-03-312017-05-15acceptance time not in the bulk data set
13F-HR 0001012975-17-000135 Quarter ended 2016-12-312017-02-14acceptance time not in the bulk data set
13F-HR 0001012975-16-001579 Quarter ended 2016-09-302016-11-14acceptance time not in the bulk data set
13F-HR 0001012975-16-001427 Quarter ended 2016-06-302016-08-15acceptance time not in the bulk data set
13F-HR 0001012975-16-001251 Quarter ended 2016-03-312016-05-16acceptance time not in the bulk data set
13F-HR 0001012975-16-001018 Quarter ended 2015-12-312016-02-16acceptance time not in the bulk data set
13F-HR 0001012975-15-000777 Quarter ended 2015-09-302015-11-16acceptance time not in the bulk data set
13F-HR 0001012975-15-000621 Quarter ended 2015-06-302015-08-14acceptance time not in the bulk data set
13F-HR 0001012975-15-000404 Quarter ended 2015-03-312015-05-15acceptance time not in the bulk data set
13F-HR 0001012975-15-000137 Quarter ended 2014-12-312015-02-17acceptance time not in the bulk data set
13F-HR 0001012975-14-000721 Quarter ended 2014-09-302014-11-14acceptance time not in the bulk data set
13F-HR 0001012975-14-000518 Quarter ended 2014-06-302014-08-14acceptance time not in the bulk data set
13F-HR 0001012975-14-000319 Quarter ended 2014-03-312014-05-15acceptance time not in the bulk data set
13F-HR 0001140361-14-008028 Quarter ended 2013-12-312014-02-14acceptance time not in the bulk data set
13F-HR 0001140361-13-042840 Quarter ended 2013-09-302013-11-14acceptance time not in the bulk data set
13F-HR 0001140361-13-032859 Quarter ended 2013-06-302013-08-14acceptance time not in the bulk data set