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JK

Jonathan Kolatch Redwood Capital Management

AUM $927M
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
+15.16%
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
$729M
AUM Growth
-$189M
Cap. Flow
-$259M
Cap. Flow %
-35.54%
Top 10 Hldgs %
68.22%
Holding
62
New
2
Increased
4
Reduced
8
Closed
13

Top Buys

Rank Stock Value
1
PCG icon
PG&E
PCG
+$13.4M
2
BHC icon
Bausch Health
BHC
+$7.8M
3
LOMA
Loma Negra
LOMA
+$7.79M
4
BMY.RT
Bristol-Myers Squibb Company Contingent Value Rights
BMY.RT
+$1.3M
5
TEO icon
Telecom Argentina
TEO
+$1.14M

Top Sells

Rank Stock Value
1
AABA
Altaba Inc
AABA
+$114M
2
CELG
Celgene Corp
CELG
+$84.9M
3
OC icon
Owens Corning
OC
+$19M
4
CVS icon
CVS Health
CVS
+$12.6M
5
FRTA
Forterra, Inc
FRTA
+$10.6M

Sector Composition

Rank Sector Weight
1 Utilities 19.46%
2 Healthcare 18.89%
3 Consumer Discretionary 12.43%
4 Financials 12.03%
5 Real Estate 10.51%
Name Market Value Portfolio Weight Shares or Principal Change
in Stake 		Capital Flow
PCG icon
1
PG&E
PCG
$38.8B
$140M 19.21%
12,883,752
+1,567,715
+14% +$13.4M
VER
2
DELISTED
VEREIT, Inc.
VER
$76.6M 10.51%
1,658,316
-202,039
-11% -$9.68M
THC icon
3
Tenet Healthcare
THC
$22.6B
$62M 8.51%
1,631,301
-99,089
-6% -$2.97M
C icon
4
Citigroup
C
$221B
$61.5M 8.44%
770,000
– –
BHC icon
5
Bausch Health
BHC
$2.41B
$47.9M 6.57%
1,600,000
+300,000
+23% +$7.8M
MERC icon
6
Mercer International
MERC
$28.5M
$25.5M 3.49%
2,070,724
– –
MSC
7
Studio City International Holdings
MSC
$356M
$24.1M 3.3%
1,219,536
– –
CZR
8
DELISTED
Caesars Entertainment Corporation
CZR
$21.8M 2.99%
1,600,000
– –
TPIC
9
DELISTED
TPI Composites
TPIC
$19.1M 2.62%
1,031,379
– –
PRU icon
10
Prudential Financial
PRU
$41.8B
$18.7M 2.57%
200,000
– –
HRI icon
11
Herc Holdings
HRI
$5.41B
$17.6M 2.42%
360,352
– –
TAK icon
12
Takeda Pharmaceutical
TAK
$58.1B
$16.3M 2.24%
827,955
– –
PARA
13
DELISTED
Paramount Global Class B
PARA
$16.1M 2.21%
384,200
– –
TEO icon
14
Telecom Argentina
TEO
$5.66B
$15.8M 2.17%
1,395,692
+113,700
+9% +$1.14M
ETRN
15
DELISTED
Equitrans Midstream Corporation Common Stock
ETRN
$14.1M 1.93%
1,052,453
– –
PLYA
16
DELISTED
Playa Hotels & Resorts
PLYA
$13.8M 1.89%
1,638,610
– –
GM icon
17
General Motors
GM
$77.2B
$12.8M 1.76%
350,200
– –
DCH
18
Dauch Corp
DCH
$1.63B
$12M 1.64%
1,114,132
– –
VRS
19
DELISTED
Verso Corporation
VRS
$11.5M 1.58%
638,356
-130,758
-17% -$2.1M
YPF icon
20
YPF Sociedad Anonima ADS
YPF
$20.1B
$10.2M 1.4%
880,385
– –
LOMA
21
Loma Negra
LOMA
$1.09B
$9.62M 1.32%
+1,229,686
New +$7.79M
CNC icon
22
Centene
CNC
$32.1B
$9.43M 1.29%
150,000
– –
GASS icon
23
StealthGas
GASS
$358M
$8.28M 1.14%
2,415,287
– –
STGW icon
24
Stagwell
STGW
$2.13B
$6.76M 0.93%
2,432,814
– –
DAL icon
25
Delta Air Lines
DAL
$54.2B
$5.85M 0.8%
100,000
– –
1
2 3

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Jonathan Kolatch's Q4 2019 Portfolio in Review

As of Q4 2019, Jonathan Kolatch held 62 positions worth $729M, down 21% from $917M the previous quarter. Its ten largest holdings account for 68% of the portfolio.

Jonathan Kolatch withdrew a net $259M in Q4 2019, closing 13 positions and reducing 8 holdings. Its most notable exit was Altaba Inc, an estimated $114M position sold in full.

By sector, the portfolio is most concentrated in Utilities at 19% of assets, up from 13% a quarter earlier, followed by Healthcare and Consumer Discretionary.

Against the trend, Jonathan Kolatch opened a new position in Loma Negra worth $9.62M.

  • Jonathan Kolatch's largest Q4 2019 buy was Loma Negra: 1,229,686 shares worth $9.62M.
  • Jonathan Kolatch added most to PG&E in Q4 2019, an estimated $13.4M increase.
  • Jonathan Kolatch's biggest Q4 2019 reduction was VEREIT, Inc., cutting an estimated $9.68M.
  • Jonathan Kolatch fully exited Altaba Inc in Q4 2019, selling an estimated $114M.
  • Jonathan Kolatch's ten largest holdings make up 68% of its $729M portfolio in Q4 2019.
  • Jonathan Kolatch opened 2 new positions and closed 13 in Q4 2019.
  • Jonathan Kolatch's portfolio value fell 21% quarter-over-quarter to $729M.

Based on Redwood Capital Management's 13F filing for Q4 2019, filed 14 Feb 2020.