CONTRARIAN CAPITAL MANAGEMENT, L.L.C. Q3 2025 Filing

Filed November 13, 2025

Portfolio Value

$396.3B

Holdings

Report Date

Q3 2025

Filing Type

13F-HR

All Holdings (36 positions)

#	Stock	Shares	Value	% Portfolio
1	HBC2HSBC HLDGS PLC	1,265,656	$89.8B	22.67%
2	GGBGERDAU SA	19,069,112	$59.1B	14.92%
3	BURBURFORD CAP LTD	4,044,998	$48.4B	12.21%
4	VALEVALE S A	3,551,171	$38.6B	9.73%
5	TXTERNIUM SA	992,413	$34.5B	8.70%
6	BABAALIBABA GROUP HLDG LTD	143,760	$25.7B	6.48%
7	CNRCORE NATURAL RESOURCES INC	219,243	$18.3B	4.62%
8	LARCN 1.75 01/15/27LITHIUM ARGENTINA AG	16,000,000	$14.3B	3.60%
9	BIDUNBAIDU INC	102,139	$13.5B	3.40%
10	ASTLALGOMA STL GROUP INC	2,037,686	$7.2B	1.83%
11	EEXEMERALD HOLDING INC	879,000	$4.5B	1.13%
12	CCOCLEAR CHANNEL OUTDOOR HLDGS	2,521,871	$4.0B	1.01%
13	CZRCAESARS ENTERTAINMENT INC NE	145,500	$3.9B	0.99%
14	FDO.FMACYS INC	200,000	$3.6B	0.90%
15	NCMINATIONAL CINEMEDIA INC	739,899	$3.3B	0.84%
16	PCGPG&E CORP	200,000	$3.0B	0.76%
17	UNITUNITI GROUP LLC	454,810	$2.8B	0.70%
18	BVBRIGHTVIEW HLDGS INC	197,000	$2.6B	0.67%
19	ADVADVANTAGE SOLUTIONS INC	1,700,000	$2.6B	0.66%
20	CNTCENTURY CASINOS INC	889,144	$2.3B	0.59%
21	PBIPITNEY BOWES INC	159,000	$1.8B	0.46%
22	NENOBLE CORP PLC	60,000	$1.7B	0.43%
23	VALVALARIS LTD	31,434	$1.5B	0.39%
24	CLFCLEVELAND-CLIFFS INC NEW	115,000	$1.4B	0.35%
25	VNOMVIPER ENERGY INC	32,114	$1.2B	0.31%
26	NATLNCR ATLEOS CORPORATION	28,500	$1.1B	0.28%
27	PRKSUNITED PARKS & RESORTS INC	21,500	$1.1B	0.28%
28	WWWW INTL INC	28,091	$768.6M	0.19%
29	VYXNCR VOYIX CORPORATION	48,000	$602.4M	0.15%
30	UNFIUNITED NAT FOODS INC	14,500	$545.5M	0.14%
31	SKILSKILLSOFT CORP	41,500	$540.3M	0.14%
32	MBCMASTERBRAND INC	33,000	$434.6M	0.11%
33	SABRSABRE CORP	225,000	$411.8M	0.10%
34	AMBPARDAGH METAL PACKAGING S A	95,000	$379.1M	0.10%
35	MATMATTEL INC	22,000	$370.3M	0.09%
36	HSICHENRY SCHEIN INC	5,000	$331.9M	0.08%