Q2 2026 13F · SEC CIK 1050417
Contrarian Capital Management, L.l.c.
Hedge fundFiled 2026-08-14 for Q2 2026. Open the filing ↗ · All SEC filings ↗
- Reported 13F value
- $306.1M
- Reported positions
- 19
- Top holdings a year, 3 yrs
- +2.8%
- Average holding period
- 4.7 yrs
Contrarian Capital Management, L.l.c. is a hedge fund that reported 19 positions worth $306.1M in its Q2 2026 13F, filed 2026-08-14. Its largest holdings were Republic Airways (RJET, 29.8%), Gerdau SA (GGB, 25.2%), Ternium SA (TX, 13.8%). A portfolio copying its top holdings returned 2.8% a year over the last 3 years, against 20.4% for the S&P 500.
Contrarian Capital Management, L.l.c. holdings all 19 positions.
Weights are shares of the filer's total reported 13F value, compared with Q1 2026. Share changes may reflect splits; weight changes also reflect price moves. A 13F shows long US-listed positions only, up to 135 days after the fact.
| Stock | % of 13F value | Share change | Reported value |
|---|---|---|---|
| RJETRepublic Airways | 29.8% | -2.2% | $91.3M |
| GGBGerdau SA | 25.2% | +0.0% | $77.0M |
| TXTernium SA | 13.8% | +0.0% | $42.4M |
| FUTUFutu Holdings Ltd | 11.9% | +28.5% | $36.4M |
| AEROGrupo Aeromexico Sab de Cv | 3.9% | +0.0% | $12.1M |
| BIDUBaidu Inc | 3.8% | +0.0% | $11.7M |
| 12769G100Caesars Entertainment Inc Ne | 1.9% | +16.7% | $5.7M |
| MMacy's Inc | 1.5% | +0.0% | $4.7M |
| VNOMViper Energy Inc | 1.5% | +29.4% | $4.7M |
| PCGPg&e Corp | 1.1% | +0.0% | $3.4M |
| WYWeyerhaeuser Company Com New REIT | 0.9% | +0.0% | $2.9M |
| CCOClear Channel Outdoor Hldgs | 0.8% | -55.6% | $2.5M |
| NCMINational Cinemedia Inc | 0.7% | +0.0% | $2.3M |
| NENoble Corp PLC | 0.7% | +0.0% | $2.2M |
| FUNSix Flags Entertainment Corp | 0.7% | — | $2.1M |
| AMBPArdagh Metal Packaging S A | 0.6% | +0.0% | $2.0M |
| CNTYCentury Casinos Inc | 0.4% | +0.0% | $1.1M |
| CLFCleveland-Cliffs Inc New | 0.4% | +0.0% | $1.1M |
| WWWw Intl Inc | 0.1% | +0.0% | $449K |
What Contrarian Capital Management, L.l.c. bought and sold in Q2 2026, against Q1 2026.
New positions
- FUN Six Flags Entertainment Corp0.7% of 13F
Added to
- VNOM Viper Energy Inc+29.4% shares
- FUTU Futu Holdings Ltd+28.5% shares
- Caesars Entertainment Inc Ne+16.7% shares
Reduced
- CCO Clear Channel Outdoor Hldgs-55.6% shares
Sold out
- HSBC Hsbc Hldgs PLCwas 11.1%
- BABA Alibaba Group Hldg Ltdwas 10.8%
- CNR Core Nat Res Incwas 0.9%
Share counts compared with the Q1 2026 13F; a split also changes share counts.
How the holdings did against the S&P 500.
- 1 year
- +30.7% /yr
- S&P 500 +20.1%
- 3 years
- +2.8% /yr
- S&P 500 +20.4%
- 5 years
- -0.4% /yr
- S&P 500 +11.6%
A portfolio of the filer's 20 largest 13F positions, weighted by value, bought the trading day after each 13F was filed and held until the next one was: what copying this filer could have earned. 13Fs show long US-listed positions only, so this is an estimate of the stock picks, not the fund's reported returns.
Reported 13F value by quarter.
| Quarter | 13F value | Positions |
|---|---|---|
| Q2 2026 | $306.1M | 19 |
| Q1 2026 | $356.7M | 21 |
| Q4 2025 | $379.7M | 24 |
| Q3 2025 | $396.3M | 36 |
| Q2 2025 | $349.5M | 34 |
| Q1 2025 | $389.4M | 35 |
| Q4 2024 | $295.3M | 34 |
| Q3 2024 | $329.0M | 30 |
| Q2 2024 | $318.4M | 28 |
| Q1 2024 | $366.6M | 29 |
| Q4 2023 | $410.7M | 31 |
| Q3 2023 | $372.8M | 33 |
Questions about Contrarian Capital Management, L.l.c.'s portfolio
What stocks does Contrarian Capital Management, L.l.c. own?
Contrarian Capital Management, L.l.c.'s latest 13F, for Q2 2026 and filed Aug 14, 2026, lists 19 positions worth $306.1M. The largest are Republic Airways (RJET) at 29.8%, Gerdau SA (GGB) at 25.2%, Ternium SA (TX) at 13.8%, Futu Holdings Ltd (FUTU) at 11.9% and Grupo Aeromexico Sab de Cv (AERO) at 3.9%.
What did Contrarian Capital Management, L.l.c. buy last quarter?
In Q2 2026, Contrarian Capital Management, L.l.c. added a new position in Six Flags Entertainment Corp (FUN), Viper Energy Inc (VNOM) (+29.4% shares), Futu Holdings Ltd (FUTU) (+28.5% shares) and Caesars Entertainment Inc Ne (+16.7% shares), compared with its Q1 2026 filing.
What did Contrarian Capital Management, L.l.c. sell last quarter?
In Q2 2026, Contrarian Capital Management, L.l.c. sold all of Hsbc Hldgs PLC (HSBC), sold all of Alibaba Group Hldg Ltd (BABA), sold all of Core Nat Res Inc (CNR) and Clear Channel Outdoor Hldgs (CCO) (-55.6% shares), compared with its Q1 2026 filing.
How has Contrarian Capital Management, L.l.c.'s portfolio performed?
A portfolio copying Contrarian Capital Management, L.l.c.'s 20 largest 13F holdings each quarter, from the day each filing was public, returned +2.8% a year over the last 3 years, against +20.4% for the S&P 500. Over 1 year: +30.7% against +20.1%. Over 5 years: -0.4% a year against +11.6%.
When is Contrarian Capital Management, L.l.c.'s next 13F filing due?
13F filings are due 45 days after each quarter ends. Contrarian Capital Management, L.l.c.'s filing for the quarter ending Sep 30, 2026 is due by Nov 14, 2026; this page updates the day after it is published.