Funds (13F)
Knighthead Capital Management, LLC
Backtest from 16 Aug 2013 to 2 Nov 2026 · weekly · hypothetical
- Return a year
- −15.7% S&P 500 +14.1%
- Last 12 months
- −62.7% S&P 500 +12.1%
- Sharpe ratio
- 0.00 S&P 500 0.78
- Biggest drop
- −96.3% S&P 500 −31.8%
About
Copies Knighthead Capital Management, LLC's quarterly 13F holdings in the companies we cover, weighted by reported value: it buys on the first trading day after each 13F is filed (up to 45 days after the quarter) and holds until the next filing. A 13F shows long US-listed positions only, at the quarter's end, so this misses shorts, cash, bonds, non-US holdings and trading within the quarter.
Key statistics
| Measure | Strategy | S&P 500 |
|---|---|---|
| Return a year (compound) | −15.7% | +14.1% |
| Total return | −90% | +470% |
| Last 12 months | −62.7% | +12.1% |
| Last 3 months | +15.9% | — |
| Last month | +7.3% | — |
| This year so far | −64.4% | — |
| Volatility a year | 63.9% | 16.0% |
| Sharpe ratio | 0.00 | 0.78 |
| Biggest drop | −96.3% | −31.8% |
| Beta to the S&P 500 | 1.48 | 1.00 |
| Alpha a year (t-statistic) | −18.7% (−1.14) | — |
| Share of weeks up | 51% | — |
Insights
| Period | Return a year | S&P 500 | Sharpe | S&P 500 | Biggest drop | Beta | Alpha (t) |
|---|---|---|---|---|---|---|---|
| Whole backtest16 Aug 2013 to 2 Nov 2026 | −15.7% | +14.1% | 0.00 | 0.78 | −96.3% | 1.48 | −18.7% (−1.14) |
| 2018 onwards5 Jan 2018 to 2 Nov 2026 | −27.7% | +13.9% | −0.11 | 0.66 | −96.3% | 1.50 | −26.2% (−1.09) |
| Last three years3 Nov 2023 to 2 Nov 2026 | −40.9% | +21.8% | −0.14 | 1.16 | −84.1% | 1.11 | −32.1% (−0.56) |
| Last year7 Nov 2025 to 2 Nov 2026 | −71.4% | +14.2% | −0.95 | 0.84 | −77.7% | 3.54 | −119.5% (−1.52) |
| Date | Company | Action |
|---|---|---|
| 22 May 2026 | ECHO | Sold |