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Jonathan Kolatch Redwood Capital Management
AUM
$927M
Turnover
37.93%
1-Year Est. Return
153.64%
Jonathan Kolatch is associated with Redwood Capital Management, a firm active in credit and special-situation investing. Redwood’s approach typically emphasizes complex capital structures, event-driven opportunities, and rigorous credit analysis. The firm’s activity is followed by investors who track credit-oriented alternative managers.
This Fund
S&P 500
This Quarter Est. Return
+7.65%
1 Year Est. Return
+153.64%
3 Year Est. Return
+312.54%
5 Year Est. Return
+223.92%
10 Year Est. Return
+552.34%
AUM
$761M
AUM Growth
+$15.3M
(+2%)
Cap. Flow
-$28.6M
Cap. Flow % of AUM
Cap. Flow %
-3.76%
Top 10 Holdings %
Top 10 Hldgs %
52.02%
Holding
47
New
5
Increased
7
Reduced
3
Closed
7
Avg Time Held
Equity + Options
0.2
years
Top 10 Avg Time Held
Equity + Options
0.2
years
Top 20 Avg Time Held
Equity + Options
0.2
years
Avg Time Held Equity only
0.2
years
Top 10 Avg Time Held Equity only
0.2
years
Top 20 Avg Time Held Equity only
0.2
years
Top Buys
| Rank | Stock | Value |
|---|---|---|
| 1 |
Dana Inc
DAN
|
+$15M |
| 2 |
Equity Commonwealth
EQC
|
+$14.4M |
| 3 |
American Eagle Outfitters
AEO
|
+$11.1M |
| 4 |
Herc Holdings
HRI
|
+$6.39M |
| 5 |
Sprint Corporation
S
|
+$6.18M |
Top Sells
| Rank | Stock | Value |
|---|---|---|
| 1 |
Vornado Realty Trust
VNO
|
+$29.9M |
| 2 |
FON
SPRINT CORP FON COM
FON
|
+$21.1M |
| 3 |
American International
AIG
|
+$19M |
| 4 |
Stagwell
STGW
|
+$9.02M |
| 5 |
Vodafone
VOD
|
+$5.75M |
Sector Composition
| Rank | Sector | Weight |
|---|---|---|
| 1 | Financials | 33.98% |
| 2 | Consumer Discretionary | 22.45% |
| 3 | Industrials | 11.35% |
| 4 | Healthcare | 9.84% |
| 5 | Energy | 8.9% |
| Name | Market Value | Portfolio Weight | Shares or Principal |
Change in Stake | Capital Flow | Held Since | |
|---|---|---|---|---|---|---|---|
1
MetLife
MET
$62.8B
| $56.3M | 7.4% |
1,346,400
| – | – |
2013 Q2
1 quarter
|
|
2
Lear
LEA
$5.76B
| $47.5M | 6.23% |
663,082
| – | – |
2013 Q2
1 quarter
|
|
|
3
American International
AIG
$42.5B
| $39.4M | 5.18% |
811,000
-400,000
| -33% | -$19M |
2013 Q2
1 quarter
|
|
4
JPMorgan Chase
JPM
$881B
| $38.8M | 5.09% |
750,000
| – | – |
2013 Q2
1 quarter
|
|
5
Cigna
CI
$81.1B
| $38.4M | 5.04% |
499,680
| – | – |
2013 Q2
1 quarter
|
|
6
Citigroup
C
$202B
| $37.4M | 4.91% |
770,000
| – | – |
2013 Q2
1 quarter
|
|
7
YPF Sociedad Anonima ADS
YPF
$19.9B
| $37.2M | 4.89% |
1,850,000
+125,000
| +7% | +$2.14M |
2013 Q2
1 quarter
|
|
8
Aptiv
APTV
$8.86B
| $34.8M | 4.57% |
595,000
| – | – |
2013 Q2
1 quarter
|
|
9
Elevance Health
ELV
$95.4B
| $33.4M | 4.39% |
400,000
| – | – |
2013 Q2
1 quarter
|
|
|
10
DELISTED
Equity Commonwealth
EQC
| $32.9M | 4.32% |
1,502,400
+602,400
| +67% | +$14.4M |
2013 Q2
1 quarter
|
|
11
Children's Place
PLCE
$23.3M
| $31.6M | 4.15% |
545,779
| – | – |
2013 Q2
1 quarter
|
|
12
United Airlines
UAL
$31.8B
| $30.7M | 4.03% |
1,000,230
| – | – |
2013 Q2
1 quarter
|
|
|
13
Herc Holdings
HRI
$4.28B
| $29.9M | 3.93% |
450,000
+83,333
| +23% | +$6.39M |
2013 Q2
1 quarter
|
|
14
Hartford Financial Services
HIG
$37B
| $29.6M | 3.88% |
950,000
| – | – |
2013 Q2
1 quarter
|
|
15
BP
BP
$132B
| $23.1M | 3.04% |
672,401
| – | – |
2013 Q2
1 quarter
|
|
16
General Motors
GM
$64.5B
| $22.1M | 2.91% |
615,000
| – | – |
2013 Q2
1 quarter
|
|
17
Bank of America
BAC
$350B
| $21.4M | 2.8% |
1,547,400
| – | – |
2013 Q2
1 quarter
|
|
18
Prudential Financial
PRU
$39.7B
| $20.2M | 2.65% |
259,000
| – | – |
2013 Q2
1 quarter
|
|
19
Exelon
EXC
$45.8B
| $19.6M | 2.57% |
925,320
| – | – |
2013 Q2
1 quarter
|
|
20
SunCoke Energy
SXC
$850M
| $17.2M | 2.26% |
1,012,000
+58,600
| +6% | +$932K |
2013 Q2
1 quarter
|
|
|
21
Dana Inc
DAN
$2.89B
| $15.8M | 2.08% |
+693,562
| New | +$15M |
2013 Q3
0 quarters
|
|
22
Delta Air Lines
DAL
$50.5B
| $14.2M | 1.86% |
600,000
+100,000
| +20% | +$2.08M |
2013 Q2
1 quarter
|
|
|
ACAS
23
DELISTED
American Capital Ltd
ACAS
| $13.8M | 1.81% |
1,002,700
| – | – |
2013 Q2
1 quarter
|
|
24
Deckers Outdoor
DECK
$11B
| $9.9M | 1.3% |
900,000
-180,000
| -17% | -$1.75M |
2013 Q2
1 quarter
|
|
|
25
American Eagle Outfitters
AEO
$3B
| $9.3M | 1.22% |
+665,000
| New | +$11.1M |
2013 Q3
0 quarters
|
|
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Jonathan Kolatch's Q3 2013 Portfolio in Review
As of Q3 2013, Jonathan Kolatch held 47 positions worth $761M, up 2% from $746M the previous quarter. Its ten largest holdings account for 52% of the portfolio.
Jonathan Kolatch withdrew a net $28.6M in Q3 2013, closing 7 positions and reducing 3 holdings. Its most notable exit was Vornado Realty Trust, an estimated $29.9M position sold in full.
By sector, the portfolio is most concentrated in Financials at 34% of assets, down from 36% a quarter earlier, followed by Consumer Discretionary and Industrials.
Against the trend, Jonathan Kolatch opened a new position in Dana Inc worth $15.8M.
- Jonathan Kolatch's largest Q3 2013 buy was Dana Inc: 693,562 shares worth $15.8M.
- Jonathan Kolatch added most to Equity Commonwealth in Q3 2013, an estimated $14.4M increase.
- Jonathan Kolatch's biggest Q3 2013 reduction was American International, cutting an estimated $19M.
- Jonathan Kolatch fully exited Vornado Realty Trust in Q3 2013, selling an estimated $29.9M.
- Jonathan Kolatch's ten largest holdings make up 52% of its $761M portfolio in Q3 2013.
- Jonathan Kolatch opened 5 new positions and closed 7 in Q3 2013.
- Jonathan Kolatch's portfolio value rose 2% quarter-over-quarter to $761M.
Based on Redwood Capital Management's 13F filing for Q3 2013, filed 14 Nov 2013.