1y return+10.4%S&P 500 +20.9%
3y return−7.7%S&P 500 +68.5%
5y return−16.3%S&P 500 +74.5%
These returns are for its stock picks as disclosed on Form 13F: last quarter's holdings, valued at this quarter's prices. They miss trades within each quarter, short positions, options, bonds, cash and fees, so they aren't the returns its clients got.
$100 invested in its stock picks
Since March 31, 2020: $241 against $290 in the S&P 500.2
Contrarian Capital Management, L.l.c.S&P 500 (SPY)
Top holdings
At the end of June 30, 2026. Change is in shares since the quarter before.2
| Stock | Value | Share of portfolio | Change |
|---|---|---|---|
| RJETRepublic Awys Hldgs Inc | $91.3M | 29.8% | −2.2% |
| GGBGerdau Sa | $77.0M | 25.2% | |
| TXTernium Sa | $42.4M | 13.8% | |
| FUTUFutu Hldgs Ltd | $36.4M | 11.9% | +28.5% |
| AEROGrupo Aeromexico Sab De Cv | $12.1M | 3.9% | |
| BIDUBaidu Inc | $11.7M | 3.8% | |
| CZRCaesars Entertainment Inc Ne | $5.7M | 1.9% | +16.7% |
| MMacys Inc | $4.7M | 1.5% | |
| VNOMViper Energy Inc | $4.7M | 1.5% | +29.4% |
| PCGPg&e Corp | $3.4M | 1.1% | |
| WYWeyerhaeuser Co | $2.9M | 0.9% | |
| Clear Channel Outdoor HldgsCUSIP 18453H106 | $2.5M | 0.8% | −55.6% |
| NCMINational Cinemedia Inc | $2.3M | 0.7% | |
| Noble Corp PLCCUSIP G65431127 | $2.2M | 0.7% | |
| FUNSix Flags Entertainment Corp | $2.1M | 0.7% | New |
| Ardagh Metal Packaging S ACUSIP L02235106 | $2.0M | 0.6% | |
| CNTYCentury Casinos Inc | $1.1M | 0.4% | |
| CLFCleveland-cliffs Inc New | $1.1M | 0.4% | |
| WWWw Intl Inc | $449K | 0.1% |
Best picks still held
How each current holding has done since the quarter it first appeared in its filings (up to six years back).
| Stock | Held since | Return since | Now worth |
|---|---|---|---|
| TXTernium Sa | June 30, 2020 | +181.5% | $42.4M |
| MMacys Inc | December 31, 2020 | +109.3% | $4.7M |
| GGBGerdau Sa | June 30, 2020 | +36.5% | $77.0M |
| RJETRepublic Awys Hldgs Inc | December 31, 2025 | +14.4% | $91.3M |
| VNOMViper Energy Inc | September 30, 2025 | +10.9% | $4.7M |
| Noble Corp PLCCUSIP G65431127 | September 30, 2024 | +3.2% | $2.2M |
| WYWeyerhaeuser Co | December 31, 2025 | +1.1% | $2.9M |
| Ardagh Metal Packaging S ACUSIP L02235106 | December 31, 2022 | −1.5% | $2.0M |
| PCGPg&e Corp | March 31, 2025 | −2.1% | $3.4M |
| BIDUBaidu Inc | September 30, 2025 | −13.3% | $11.7M |
Sold off last quarter
- HSBCHsbc Hldgs PLC was $39.7M
- BABAAlibaba Group Hldg Ltd was $38.4M
- CNRCore Natural Resources Inc was $3.3M
Quarter by quarter
| Quarter | Its picks | S&P 500 |
|---|---|---|
| June 30, 2026 | +3.3% | +14.8% |
| March 31, 2026 | −1.1% | −4.6% |
| December 31, 2025 | +4.1% | +2.4% |
| September 30, 2025 | +3.8% | +7.8% |
| June 30, 2025 | +0.4% | +10.5% |
| March 31, 2025 | −4.1% | −4.6% |
| December 31, 2024 | −10.9% | +2.1% |
| September 30, 2024 | +4.8% | +5.4% |
| June 30, 2024 | −12.3% | +4.0% |
| March 31, 2024 | −6.6% | +10.0% |
| December 31, 2023 | +8.1% | +11.2% |
| September 30, 2023 | +5.1% | −3.6% |
| June 30, 2023 | +1.6% | +8.3% |
| March 31, 2023 | +0.4% | +7.0% |
| December 31, 2022 | +10.3% | +7.1% |
| September 30, 2022 | −7.3% | −5.3% |
| June 30, 2022 | −22.8% | −16.5% |
| March 31, 2022 | +27.2% | −4.9% |
| December 31, 2021 | +0.3% | +10.7% |
| September 30, 2021 | −11.8% | +0.3% |
Sources
Every number on this page points here. Each one links to the public record.
- 1SEC EDGAR: Contrarian Capital Management, L.l.c. Form 13F filingshttps://www.sec.gov/cgi-bin/browse-edgar?action=getcompany&CIK=1050417&type=13F-HR&dateb=&owner=include&count=40CIK 1050417
- 2SEC: 13F for the quarter ended June 30, 2026https://www.sec.gov/Archives/edgar/data/1050417/000091957426005156/Filed August 14, 2026 · accession 0000919574-26-005156