Contrarian Capital Management, L.l.c.
Contrarian Capital Management, L.l.c. reported 19 US-listed holdings worth $306.1 million in its 13F for the quarter ended 30 June 2026, filed 14 August 2026. Its largest: Republic Awys Hldgs Inc. (29.8%), Gerdau SA (25.2%) and Ternium SA (13.8%). Against the quarter before, it opened 1 position, added to 3, trimmed 2 and sold out of 3.
The 14 largest of its 19 positions, each sized by its share of the reported holdings, coloured by the change in shares against Q1 2026.
What the fund reported holding at each quarter's end; hover a bar for the number of positions
What its reported holdings returned
Held through each quarter, the holdings it reported returned -6.1% over the 7 quarters to 30 June 2026, against +30.2% for the S&P 500.
Not the fund's own return: each 13F's holdings are kept unchanged until the next one, so trades inside a quarter, dividends, cash and fees are left out. A rough guide to how its picks have done over time.
What it did on the quarter
Its positions against its 13F for the quarter to 31 March 2026; a change under 0.1% of a position counts as held
Opened 1
- Six Flags Entertainment Corporation FUN$2.1 million
Added to 3
- Futu Hldgs Ltd FUTU+86,160 shares · +28%
- Viper Energy, Inc. VNOM+25,000 shares · +29%
- Caesars Entertainment, Inc. CZR+27,124 shares · +17%
Trimmed 2
- Clear Channel Outdoor Hldgs CCO-1.3 million shares · -56%
- Republic Awys Hldgs Inc. RJET-98,454 shares · -2%
Sold out of 3
- HSBC Holdings plc HSBC$39.7 million last quarter
- Alibaba Group Holding Limited BABA$38.4 million last quarter
- Core Natural Resources, Inc. CNR$3.3 million last quarter
What it holds
| Company | Shares | Value | Of its book | Change in shares |
|---|---|---|---|---|
| Republic Awys Hldgs Inc. RJET | 4.3M | $91.3 million | 29.85% | -98.5K |
| Gerdau SA GGB | 19.1M | $77.0 million | 25.17% | no change |
| Ternium SA TX | 992.4K | $42.4 million | 13.85% | no change |
| Futu Hldgs Ltd FUTU | 388.6K | $36.4 million | 11.90% | +86.2K |
| Grupo Aeromexico Sab De CV AERO | 671.2K | $12.1 million | 3.95% | no change |
| Baidu, Inc. BIDU | 102.1K | $11.7 million | 3.81% | no change |
| Caesars Entertainment, Inc. CZR | 189.3K | $5.7 million | 1.87% | +27.1K |
| Macy's, Inc. M | 200.0K | $4.7 million | 1.54% | no change |
| Viper Energy, Inc. VNOM | 110.0K | $4.7 million | 1.52% | +25.0K |
| Pg&E Corp. PCG | 200.0K | $3.4 million | 1.10% | no change |
| Weyerhaeuser Co. WY | 120.0K | $2.9 million | 0.94% | no change |
| Clear Channel Outdoor Hldgs CCO | 1.0M | $2.5 million | 0.83% | -1.3M |
| National Cinemedia Inc. NCMI | 596.2K | $2.3 million | 0.74% | no change |
| Noble Corp. plc NE | 60.0K | $2.2 million | 0.73% | no change |
| Six Flags Entertainment Corporation FUN | 100.0K | $2.1 million | 0.70% | new |
| Ardagh Metal Packaging S A AMBP | 413.7K | $2.0 million | 0.64% | no change |
| Century Casinos Inc. CNTY | 889.1K | $1.1 million | 0.37% | no change |
| Cleveland-Cliffs Inc. CLF | 115.0K | $1.1 million | 0.35% | no change |
| WW Intl Inc. WW | 28.1K | $448,894 | 0.15% | no change |