CONTRARIAN CAPITAL MANAGEMENT, L.L.C. Q4 2025 Filing

Filed February 13, 2026

Portfolio Value

$379.7B

Holdings

Report Date

Q4 2025

Filing Type

13F-HR

All Holdings (24 positions)

#	Stock	Shares	Value	% Portfolio
1	HBC2HSBC HLDGS PLC	1,265,656	$99.6B	26.23%
2	RJETREPUBLIC AWYS HLDGS INC	4,446,210	$81.7B	21.51%
3	GGBGERDAU SA	19,069,112	$70.4B	18.53%
4	TXTERNIUM SA	992,413	$37.9B	9.98%
5	BABAALIBABA GROUP HLDG LTD	165,787	$24.3B	6.40%
6	AEROGRUPO AEROMEXICO SAB DE CV	671,207	$14.7B	3.88%
7	BIDUNBAIDU INC	102,139	$13.3B	3.51%
8	CCOCLEAR CHANNEL OUTDOOR HLDGS	2,351,871	$5.2B	1.37%
9	FDO.FMACYS INC	200,000	$4.4B	1.16%
10	PCGPG&E CORP	200,000	$3.2B	0.85%
11	UNITUNITI GROUP LLC	443,810	$3.1B	0.82%
12	CZRCAESARS ENTERTAINMENT INC NE	125,000	$2.9B	0.77%
13	NCMINATIONAL CINEMEDIA INC	739,899	$2.9B	0.76%
14	CNRCORE NATURAL RESOURCES INC	31,567	$2.8B	0.74%
15	WYWEYERHAEUSER CO MTN BE	76,019	$1.8B	0.47%
16	AMBPARDAGH METAL PACKAGING S A	413,706	$1.7B	0.45%
17	NENOBLE CORP PLC	60,000	$1.7B	0.45%
18	VNOMVIPER ENERGY INC	42,516	$1.6B	0.43%
19	VALVALARIS LTD	31,434	$1.6B	0.42%
20	CLFCLEVELAND-CLIFFS INC NEW	115,000	$1.5B	0.40%
21	CNTCENTURY CASINOS INC	889,144	$1.2B	0.31%
22	ADVADVANTAGE SOLUTIONS INC	1,000,000	$880.0M	0.23%
23	WWWW INTL INC	28,091	$820.0M	0.22%
24	EEXEMERALD HOLDING INC	93,118	$416.0M	0.11%