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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
+14.12%
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
$1.46B
AUM Growth
+$266M
(+22%)
Cap. Flow
+$63.9M
Cap. Flow % of AUM
Cap. Flow %
4.37%
Top 10 Holdings %
Top 10 Hldgs %
71.62%
Holding
68
New
5
Increased
9
Reduced
9
Closed
9
Avg Time Held
Equity + Options
2
years
Top 10 Avg Time Held
Equity + Options
1.7
years
Top 20 Avg Time Held
Equity + Options
1.4
years
Avg Time Held Equity only
2
years
Top 10 Avg Time Held Equity only
1.7
years
Top 20 Avg Time Held Equity only
1.4
years
Top Buys
| Rank | Stock | Value |
|---|---|---|
| 1 |
PG&E
PCG
|
+$160M |
| 2 |
CELG
Celgene Corp
CELG
|
+$74.7M |
| 3 |
Takeda Pharmaceutical
TAK
|
+$16.7M |
| 4 |
OIBR.C
OI S.A. American Depositary Shares, each representing five shares of common stock
OIBR.C
|
+$10.1M |
| 5 |
Walt Disney
DIS
|
+$2.34M |
Top Sells
| Rank | Stock | Value |
|---|---|---|
| 1 |
TFCFA
Twenty-First Century Fox, Inc. Class A
TFCFA
|
+$34.1M |
| 2 |
SHPG
Shire pic
SHPG
|
+$33.7M |
| 3 |
GE Aerospace
GE
|
+$22.4M |
| 4 |
AABA
Altaba Inc
AABA
|
+$16.9M |
| 5 |
Dell
DELL
|
+$15.7M |
Sector Composition
| Rank | Sector | Weight |
|---|---|---|
| 1 | Technology | 31.17% |
| 2 | Utilities | 17.31% |
| 3 | Healthcare | 10.15% |
| 4 | Industrials | 7.85% |
| 5 | Financials | 6.27% |
| Name | Market Value | Portfolio Weight | Shares or Principal |
Change in Stake | Capital Flow | Held Since | |
|---|---|---|---|---|---|---|---|
|
AABA
1
DELISTED
Altaba Inc
AABA
| $411M | 28.17% |
5,550,072
-246,000
| -4% | -$16.9M |
2017 Q2
7 quarters
|
|
|
2
PG&E
PCG
$29.1B
| $251M | 17.18% |
14,093,695
+9,876,596
| +234% | +$160M |
2017 Q4
5 quarters
|
|
|
CELG
3
DELISTED
Celgene Corp
CELG
| $80.6M | 5.52% |
+854,500
| New | +$74.7M |
2019 Q1
0 quarters
|
|
|
VER
4
DELISTED
VEREIT, Inc.
VER
| $77.9M | 5.33% |
1,860,355
| – | – |
2014 Q2
19 quarters
|
|
5
Citigroup
C
$202B
| $47.9M | 3.28% |
770,000
-50,000
| -6% | -$3.1M |
2013 Q2
23 quarters
|
|
6
Delta Air Lines
DAL
$60.7B
| $41.3M | 2.83% |
800,000
| – | – |
2013 Q2
23 quarters
|
|
7
Micron Technology
MU
$820B
| $36.2M | 2.48% |
875,000
-29,300
| -3% | -$1.13M |
2013 Q4
21 quarters
|
|
8
Tenet Healthcare
THC
$23.1B
| $34.2M | 2.34% |
1,187,055
| – | – |
2017 Q1
8 quarters
|
|
9
Mercer International
MERC
$15.8M
| $28M | 1.92% |
2,070,724
| – | – |
2013 Q2
23 quarters
|
|
10
DELISTED
Equitrans Midstream Corporation Common Stock
ETRN
| $22.9M | 1.57% |
1,052,453
| – | – |
2018 Q4
1 quarter
|
|
|
OIBR.C
11
DELISTED
OI S.A. American Depositary Shares, each representing five shares of common stock
OIBR.C
| $21.9M | 1.5% |
11,674,715
+5,144,623
| +79% | +$10.1M |
2018 Q3
2 quarters
|
|
12
Studio City International Holdings
MSC
$183M
| $19.3M | 1.32% |
1,219,536
+3,102
| +0.3% | +$49.7K |
2018 Q4
1 quarter
|
|
13
Telecom Argentina
TEO
$4.45B
| $18.7M | 1.28% |
1,281,992
| – | – |
2013 Q2
23 quarters
|
|
14
Prudential Financial
PRU
$42.3B
| $18.4M | 1.26% |
200,000
| – | – |
2013 Q2
23 quarters
|
|
15
DELISTED
Paramount Global Class B
PARA
| $18.3M | 1.25% |
384,200
| – | – |
2018 Q1
4 quarters
|
|
|
16
Takeda Pharmaceutical
TAK
$66.9B
| $16.9M | 1.15% |
+827,955
| New | +$16.7M |
2019 Q1
0 quarters
|
|
|
VRS
17
DELISTED
Verso Corporation
VRS
| $16.5M | 1.13% |
769,114
| – | – |
2016 Q3
10 quarters
|
|
18
Dauch Corp
DCH
$1.06B
| $15.9M | 1.09% |
1,114,132
-50,000
| -4% | -$723K |
2018 Q2
3 quarters
|
|
19
Howmet Aerospace
HWM
$87.1B
| $15.9M | 1.09% |
1,087,496
+65,200
| +6% | +$934K |
2018 Q1
4 quarters
|
|
20
DELISTED
Caesars Entertainment Corporation
CZR
| $15.6M | 1.07% |
1,800,000
+100,000
| +6% | +$867K |
2018 Q4
1 quarter
|
|
21
Owens Corning
OC
$9.48B
| $15.3M | 1.05% |
325,000
| – | – |
2018 Q4
1 quarter
|
|
22
Herc Holdings
HRI
$5.51B
| $13.9M | 0.95% |
356,686
| – | – |
2013 Q2
23 quarters
|
|
23
CVS Health
CVS
$114B
| $13.6M | 0.93% |
252,284
| – | – |
2018 Q4
1 quarter
|
|
24
General Motors
GM
$75.3B
| $13M | 0.89% |
350,200
+200
| +0.1% | +$7.6K |
2013 Q2
23 quarters
|
|
25
DELISTED
Playa Hotels & Resorts
PLYA
| $12.5M | 0.86% |
1,638,610
| – | – |
2018 Q4
1 quarter
|
|
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Jonathan Kolatch's Q1 2019 Portfolio in Review
As of Q1 2019, Jonathan Kolatch held 68 positions worth $1.46B, up 22% from $1.19B the previous quarter. Its ten largest holdings account for 72% of the portfolio.
Jonathan Kolatch deployed $63.9M of net new capital in Q1 2019, opening 5 new positions and adding to 9 existing holdings. Its largest new stake was Celgene Corp: 854,500 shares worth $80.6M.
By sector, the portfolio is most concentrated in Technology at 31% of assets, down from 33% a quarter earlier, followed by Utilities and Healthcare.
On the sell side, the largest reduction was GE Aerospace, an estimated $22.4M trimmed.
- Jonathan Kolatch's largest Q1 2019 buy was Celgene Corp: 854,500 shares worth $80.6M.
- Jonathan Kolatch added most to PG&E in Q1 2019, an estimated $160M increase.
- Jonathan Kolatch's biggest Q1 2019 reduction was GE Aerospace, cutting an estimated $22.4M.
- Jonathan Kolatch fully exited Twenty-First Century Fox, Inc. Class A in Q1 2019, selling an estimated $34.1M.
- Jonathan Kolatch's ten largest holdings make up 72% of its $1.46B portfolio in Q1 2019.
- Jonathan Kolatch opened 5 new positions and closed 9 in Q1 2019.
- Jonathan Kolatch's portfolio value rose 22% quarter-over-quarter to $1.46B.
Based on Redwood Capital Management's 13F filing for Q1 2019, filed 15 May 2019.