# CONTRARIAN CAPITAL MANAGEMENT, L.L.C.

> Institutional holdings reported to the SEC as of Q2 2026 on Form 13F. CIK 1050417. Source: https://holderbook.com/funds/1050417-contrarian-capital-management-l-l-c/

- Reported value: $306.1M
- Positions: 19
- Weight of the ten largest: 94.6%
- Filed: 2026-08-14

A 13F reports long US equity positions only. Short positions, bonds, foreign listings, private holdings and cash are not visible, so this is not the manager's whole book.

## Holdings

| Security | Ticker | Value | Shares | Weight | Quarters held |
|---|---|---|---|---|---|
| REPUBLIC AWYS HLDGS INC | [RJET](https://holderbook.com/stocks/RJET/) | $91.3M | 4,347,756 | 29.8% | 3 |
| GERDAU SA | [GGB](https://holderbook.com/stocks/GGB/) | $77.0M | 19,069,112 | 25.2% | 31 |
| TERNIUM SA | [TX](https://holderbook.com/stocks/TX/) | $42.4M | 992,413 | 13.8% | 31 |
| FUTU HLDGS LTD | [FUTU](https://holderbook.com/stocks/FUTU/) | $36.4M | 388,611 | 11.9% | 2 |
| GRUPO AEROMEXICO SAB DE CV | [AERO](https://holderbook.com/stocks/AERO/) | $12.1M | 671,207 | 3.9% | 3 |
| BAIDU INC | [BIDU](https://holderbook.com/stocks/BIDU/) | $11.7M | 102,139 | 3.8% | 4 |
| CAESARS ENTERTAINMENT INC NE | [CZR](https://holderbook.com/stocks/CZR/) | $5.7M | 189,287 | 1.9% | 9 |
| MACYS INC | [M](https://holderbook.com/stocks/M/) | $4.7M | 200,000 | 1.5% | 23 |
| VIPER ENERGY INC | [VNOM](https://holderbook.com/stocks/VNOM/) | $4.7M | 110,000 | 1.5% | 4 |
| PG&E CORP | [PCG](https://holderbook.com/stocks/PCG/) | $3.4M | 200,000 | 1.1% | 6 |
| WEYERHAEUSER CO | [WY](https://holderbook.com/stocks/WY/) | $2.9M | 120,000 | 0.9% | 3 |
| CLEAR CHANNEL OUTDOOR HLDGS | [CCO](https://holderbook.com/stocks/CCO/) | $2.5M | 1,044,257 | 0.8% | 29 |
| NATIONAL CINEMEDIA INC | [NCMI](https://holderbook.com/stocks/NCMI/) | $2.3M | 596,231 | 0.7% | 12 |
| NOBLE CORP PLC | [NE](https://holderbook.com/stocks/NE/) | $2.2M | 60,000 | 0.7% | 8 |
| SIX FLAGS ENTERTAINMENT CORP | [FUN](https://holderbook.com/stocks/FUN/) | $2.1M | 100,000 | 0.7% | 1 |
| ARDAGH METAL PACKAGING S A | [AMBP](https://holderbook.com/stocks/AMBP/) | $2.0M | 413,706 | 0.6% | 15 |
| CENTURY CASINOS INC | [CNTY](https://holderbook.com/stocks/CNTY/) | $1.1M | 889,144 | 0.4% | 23 |
| CLEVELAND-CLIFFS INC NEW | [CLF](https://holderbook.com/stocks/CLF/) | $1.1M | 115,000 | 0.4% | 8 |
| WW INTL INC | [WW](https://holderbook.com/stocks/WW/) | $448.9K | 28,091 | 0.1% | 4 |

## What the disclosed book did

Not the fund's return. This is the change in value of the positions disclosed on Form 13F, had they been left untouched, against SPY over the same quarter ends.

| Quarter | Book | Market | Difference | Priced |
|---|---|---|---|---|
| Q2 2026 | +3.3% | +14.8% | -11.5% | 102% |
| Q1 2026 | -1.1% | -4.6% | +3.5% | 100% |
| Q4 2025 | +4.1% | +2.4% | +1.8% | 96% |
| Q3 2025 | +3.8% | +7.8% | -4.0% | 96% |
| Q2 2025 | +0.4% | +10.5% | -10.0% | 97% |
| Q1 2025 | -4.9% | -4.6% | -0.4% | 89% |
| Q4 2024 | -11.0% | +2.1% | -13.1% | 100% |
| Q3 2024 | +4.8% | +5.4% | -0.6% | 100% |

## Quarter by quarter

| Quarter | 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 |