Contrarian Capital Management, L.L.C. 13F holdings, Q4 2025
Holdings as of December 31, 2025 · filings on SEC EDGAR · latest filing →
Contrarian Capital Management, L.L.C. disclosed 24 US equity positions worth $379.7m in its Q4 2025 13F filing. The largest position was HSBC at 26.2% of the reported book, followed by RJET and GGB. Against the Q3 2025 filing, it opened 3 new positions, added to 3 and reduced 6 among the top 24 holdings.
What did Contrarian Capital Management, L.L.C. own in Q4 2025? Top 24 positions
| # | Stock | Sector | Weight | Value | Shares | Δ shares | vs Q3 2025 |
|---|---|---|---|---|---|---|---|
| 1 | HSBC HSBC HLDGS PLC | Financial Services | 26.2% | $99.6m | 1,265,656 | 0% | held |
| 2 | RJET REPUBLIC AWYS HLDGS INC | 21.5% | $81.7m | 4,446,210 | – | new | |
| 3 | GGB GERDAU SA | Basic Materials | 18.5% | $70.4m | 19,069,112 | 0% | held |
| 4 | TX TERNIUM SA | Basic Materials | 10.0% | $37.9m | 992,413 | 0% | held |
| 5 | BABA ALIBABA GROUP HLDG LTD | Consumer Cyclical | 6.4% | $24.3m | 165,787 | 15% | added |
| 6 | GRUPO AEROMEXICO SAB DE CV | 3.9% | $14.7m | 671,207 | – | new | |
| 7 | BIDU BAIDU INC | Communication Services | 3.5% | $13.3m | 102,139 | 0% | held |
| 8 | CCO CLEAR CHANNEL OUTDOOR HLDGS | Communication Services | 1.4% | $5.2m | 2,351,871 | -7% | reduced |
| 9 | M MACYS INC | Consumer Cyclical | 1.2% | $4.4m | 200,000 | 0% | held |
| 10 | PCG PG&E CORP | Utilities | 0.8% | $3.2m | 200,000 | 0% | held |
| 11 | UNIT UNITI GROUP LLC | 0.8% | $3.1m | 443,810 | -2% | reduced | |
| 12 | CZR CAESARS ENTERTAINMENT INC NE | Consumer Cyclical | 0.8% | $2.9m | 125,000 | -14% | reduced |
| 13 | NCMI NATIONAL CINEMEDIA INC | 0.8% | $2.9m | 739,899 | 0% | held | |
| 14 | CNR CORE NATURAL RESOURCES INC | Energy | 0.7% | $2.8m | 31,567 | -86% | reduced |
| 15 | WY WEYERHAEUSER CO MTN BE | Real Estate | 0.5% | $1.8m | 76,019 | – | new |
| 16 | AMBP ARDAGH METAL PACKAGING S A | Consumer Cyclical | 0.4% | $1.7m | 413,706 | 335% | added |
| 17 | NOBLE CORP PLC | 0.4% | $1.7m | 60,000 | 0% | held | |
| 18 | VNOM VIPER ENERGY INC | Energy | 0.4% | $1.6m | 42,516 | 32% | added |
| 19 | VALARIS LTD | 0.4% | $1.6m | 31,434 | 0% | held | |
| 20 | CLF CLEVELAND-CLIFFS INC NEW | Basic Materials | 0.4% | $1.5m | 115,000 | 0% | held |
| 21 | CNTY CENTURY CASINOS INC | 0.3% | $1.2m | 889,144 | 0% | held | |
| 22 | ADV ADVANTAGE SOLUTIONS INC | 0.2% | $880.0k | 1,000,000 | -41% | reduced | |
| 23 | WW INTL INC | 0.2% | $820.7k | 28,091 | 0% | held | |
| 24 | EM7 EMERALD HOLDING INC | 0.1% | $416.2k | 93,118 | -89% | reduced |
Weights are shares of the reported long US equity book (options excluded). Values are as filed, normalised to whole dollars. Share changes compare against the immediately preceding filing only.