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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