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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
+3.53%
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
$688M
AUM Growth
+$2.88M
(+0.42%)
Cap. Flow
-$53.5M
Cap. Flow % of AUM
Cap. Flow %
-7.78%
Top 10 Holdings %
Top 10 Hldgs %
62.98%
Holding
55
New
12
Increased
1
Reduced
7
Closed
8
Avg Time Held
1.4
years
Top 10 Avg Time Held
1
year
Top 20 Avg Time Held
1.4
years
Top Buys
| Rank | Stock | Value |
|---|---|---|
| 1 |
EMC CORPORATION
EMC
|
+$20.1M |
| 2 |
Williams Companies
WMB
|
+$19.2M |
| 3 |
Bausch Health
BHC
|
+$17.4M |
| 4 |
YHOO
Yahoo Inc
YHOO
|
+$10M |
| 5 |
Builders FirstSource
BLDR
|
+$5.72M |
Top Sells
| Rank | Stock | Value |
|---|---|---|
| 1 |
MetLife
MET
|
+$42.4M |
| 2 |
Equity Commonwealth
EQC
|
+$32.6M |
| 3 |
Hartford Financial Services
HIG
|
+$13.7M |
| 4 |
Sinclair Inc
SBGI
|
+$8.77M |
| 5 |
General Motors
GM
|
+$5.36M |
Sector Composition
| Rank | Sector | Weight |
|---|---|---|
| 1 | Financials | 20.56% |
| 2 | Industrials | 17.13% |
| 3 | Healthcare | 15.19% |
| 4 | Energy | 11.48% |
| 5 | Real Estate | 10.71% |
| Name | Market Value | Portfolio Weight | Shares or Principal |
Change in Stake | Capital Flow | Held Since | |
|---|---|---|---|---|---|---|---|
1
Cigna
CI
$81.1B
| $82.3M | 11.96% |
562,130
| – | – |
2013 Q2
10 quarters
|
|
|
VER
2
DELISTED
VEREIT, Inc.
VER
| $73.7M | 10.71% |
1,860,355
| – | – |
2014 Q2
6 quarters
|
|
3
Delta Air Lines
DAL
$50.5B
| $48.2M | 7% |
950,000
| – | – |
2013 Q2
10 quarters
|
|
4
Citigroup
C
$202B
| $39.8M | 5.79% |
770,000
| – | – |
2013 Q2
10 quarters
|
|
|
5
General Motors
GM
$66.6B
| $37.4M | 5.44% |
1,100,000
-154,422
| -12% | -$5.36M |
2013 Q2
10 quarters
|
|
6
JPMorgan Chase
JPM
$881B
| $33M | 4.8% |
500,000
| – | – |
2013 Q2
10 quarters
|
|
|
YHOO
7
DELISTED
Yahoo Inc
YHOO
| $30.4M | 4.42% |
915,000
+300,000
| +49% | +$10M |
2014 Q4
4 quarters
|
|
8
YPF Sociedad Anonima ADS
YPF
$19.9B
| $28.5M | 4.15% |
1,814,900
-100,000
| -5% | -$1.83M |
2013 Q2
10 quarters
|
|
9
United Airlines
UAL
$31.8B
| $28.4M | 4.12% |
494,885
| – | – |
2013 Q2
10 quarters
|
|
10
Herc Holdings
HRI
$4.28B
| $25.6M | 3.72% |
600,000
| – | – |
2013 Q2
10 quarters
|
|
11
Bank of America
BAC
$354B
| $25.2M | 3.66% |
1,497,400
-150,000
| -9% | -$2.54M |
2013 Q2
10 quarters
|
|
|
12
DELISTED
EMC CORPORATION
EMC
| $19.9M | 2.89% |
+775,000
| New | +$20.1M |
2015 Q4
0 quarters
|
|
13
Prudential Financial
PRU
$39.7B
| $19.2M | 2.79% |
236,000
| – | – |
2013 Q2
10 quarters
|
|
14
Mercer International
MERC
$9.34M
| $19.1M | 2.77% |
2,106,367
| – | – |
2013 Q2
10 quarters
|
|
|
15
Bausch Health
BHC
$2.41B
| $15.8M | 2.29% |
+155,000
| New | +$17.4M |
2015 Q4
0 quarters
|
|
16
Nexstar Media Group
NXST
$5.16B
| $14.7M | 2.13% |
250,000
| – | – |
2014 Q1
7 quarters
|
|
|
17
Williams Companies
WMB
$87.7B
| $14.1M | 2.05% |
+550,000
| New | +$19.2M |
2015 Q4
0 quarters
|
|
|
ACAS
18
DELISTED
American Capital Ltd
ACAS
| $13.8M | 2.01% |
1,002,700
| – | – |
2013 Q2
10 quarters
|
|
19
Micron Technology
MU
$993B
| $11.3M | 1.65% |
800,000
-100,000
| -11% | -$1.6M |
2013 Q4
8 quarters
|
|
|
20
MetLife
MET
$62.8B
| $9.6M | 1.4% |
224,400
-963,798
| -81% | -$42.4M |
2013 Q2
10 quarters
|
|
21
Stagwell
STGW
$2.2B
| $8.8M | 1.28% |
404,940
| – | – |
2015 Q2
2 quarters
|
|
22
StealthGas
GASS
$311M
| $8.28M | 1.2% |
2,415,287
| – | – |
2014 Q2
6 quarters
|
|
|
23
Sinclair Inc
SBGI
$896M
| $7.46M | 1.09% |
229,383
-275,617
| -55% | -$8.77M |
2014 Q1
7 quarters
|
|
|
NTL
24
DELISTED
Nortel Invesora 1/20 Ser B Shr
NTL
| $6.61M | 0.96% |
442,435
| – | – |
2013 Q2
10 quarters
|
|
|
25
Builders FirstSource
BLDR
$6.12B
| $4.99M | 0.72% |
+450,000
| New | +$5.72M |
2015 Q4
0 quarters
|
|
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Jonathan Kolatch's Q4 2015 Portfolio in Review
As of Q4 2015, Jonathan Kolatch held 55 positions worth $688M, up 0.42% from $685M the previous quarter. Its ten largest holdings account for 63% of the portfolio.
Jonathan Kolatch withdrew a net $53.5M in Q4 2015, closing 8 positions and reducing 7 holdings. Its most notable exit was Equity Commonwealth, an estimated $32.6M position sold in full.
By sector, the portfolio is most concentrated in Financials at 21% of assets, down from 27% a quarter earlier, followed by Industrials and Healthcare.
Against the trend, Jonathan Kolatch opened a new position in EMC CORPORATION worth $19.9M.
- Jonathan Kolatch's largest Q4 2015 buy was EMC CORPORATION: 775,000 shares worth $19.9M.
- Jonathan Kolatch added most to Yahoo Inc in Q4 2015, an estimated $10M increase.
- Jonathan Kolatch's biggest Q4 2015 reduction was MetLife, cutting an estimated $42.4M.
- Jonathan Kolatch fully exited Equity Commonwealth in Q4 2015, selling an estimated $32.6M.
- Jonathan Kolatch's ten largest holdings make up 63% of its $688M portfolio in Q4 2015.
- Jonathan Kolatch opened 12 new positions and closed 8 in Q4 2015.
- Jonathan Kolatch's portfolio value rose 0.42% quarter-over-quarter to $688M.
Based on Redwood Capital Management's 13F filing for Q4 2015, filed 16 Feb 2016.