Knighthead Capital Management, LLC 13F: Quarter-over-Quarter Portfolio Changes
Knighthead Capital Management, LLC reported a disclosed portfolio value of approximately $560.1 million in its latest SEC Form 13F-HR filing for Q2 2026, down 43.3% quarter on quarter. Over the quarter, the fund initiated 2 new positions and exited 1 position.
Knighthead Capital Management, LLC's top buy was a new stake in Wheels Up Experience INC (UP) , equal to 20.7% of the disclosed portfolio. Its top sell was Wheels Up Experience INC (2CH) . The fund exited the position completely after it had accounted for 13.5% of the previous portfolio.
New PositionsQ2 2026
Securities disclosed for the first time in Q2 2026 that were not present in the prior 13F-HR filing.
| Company | Ticker | Initial Portfolio Weight | History |
|---|---|---|---|
| WHEELS UP EXPERIENCE INC | UP | 20.7% | History → |
| AZUL S A | AZUL | 2.8% | History → |
Full ExitsQ2 2026
Positions present in the prior 13F-HR filing that no longer appear in Q2 2026.
| Company | Ticker | Last-Reported Portfolio Weight |
|---|---|---|
| WHEELS UP EXPERIENCE INC | 2CH | 13.5% |
Net Portfolio Value ChangeQ2 2026
- $1.0BPrior quarter
- $0.6BCurrent quarter
- $-0.4BNet delta
- -43.3%% change
Methodology & FAQ
How Knighthead Capital Management, LLC Quarterly Changes Are Computed
All deltas are sourced from sequential SEC Form 13F-HR filings for Knighthead Capital Management, LLC: each row joins the most recent filing against the immediately preceding quarterly filing for the same fund. Share-count changes reflect reported trading activity, while portfolio weights can also move because of market price changes. Portfolio weights are normalized to exclude listed options for comparability. A complete description, including how confidential treatment filings are handled, is documented in the Methodology.
What stocks did Knighthead Capital Management, LLC buy in Q2 2026?
In Q2 2026, Knighthead Capital Management, LLC initiated 2 new positions (WHEELS UP EXPERIENCE INC (UP), AZUL S A (AZUL)).
What stocks did Knighthead Capital Management, LLC sell in Q2 2026?
In Q2 2026, Knighthead Capital Management, LLC fully sold 1 position (WHEELS UP EXPERIENCE INC (2CH)).
Which positions did Knighthead Capital Management, LLC initiate in Q2 2026?
Knighthead Capital Management, LLC established 2 new positions in Q2 2026: WHEELS UP EXPERIENCE INC (UP, 20.7%), AZUL S A (AZUL, 2.8%).
Which existing positions saw the largest allocation increases for Knighthead Capital Management, LLC in Q2 2026?
Knighthead Capital Management, LLC reported no material allocation increases in existing positions in Q2 2026.
Which positions did Knighthead Capital Management, LLC fully exit in Q2 2026?
Knighthead Capital Management, LLC fully exited 1 position in Q2 2026: WHEELS UP EXPERIENCE INC (2CH, last-reported weight 13.5%).
Which existing positions saw the largest allocation reductions for Knighthead Capital Management, LLC in Q2 2026?
Knighthead Capital Management, LLC reported no material allocation reductions in existing positions in Q2 2026.
Do quarter-over-quarter 13F allocation changes constitute explicit trading signals?
No. Quarter-over-quarter changes reflect a combination of active trading and market price movement. A weight increase can result from price appreciation alone, without the manager adding shares. Share-count delta is the cleaner indicator of explicit trading activity. All deltas on this page are sourced from sequential SEC Form 13F-HR filings.