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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
+1.38%
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
$1.53B
AUM Growth
-$523M
(-25%)
Cap. Flow
-$119M
Cap. Flow % of AUM
Cap. Flow %
-7.76%
Top 10 Holdings %
Top 10 Hldgs %
60.35%
Holding
48
New
9
Increased
6
Reduced
7
Closed
7
Avg Time Held
Equity + Options
2.4
years
Top 10 Avg Time Held
Equity + Options
0.9
years
Top 20 Avg Time Held
Equity + Options
1.5
years
Avg Time Held Equity only
2.4
years
Top 10 Avg Time Held Equity only
0.9
years
Top 20 Avg Time Held Equity only
1.5
years
Top Buys
| Rank | Stock | Value |
|---|---|---|
| 1 |
Frontier Communications
FYBR
|
+$63.3M |
| 2 |
AT&T
T
|
+$26.7M |
| 3 |
American Public Education
APEI
|
+$23.5M |
| 4 |
Spirit AeroSystems
SPR
|
+$22.6M |
| 5 |
Synchrony
SYF
|
+$18.2M |
Top Sells
| Rank | Stock | Value |
|---|---|---|
| 1 |
EPR Properties
EPR
|
+$158M |
| 2 |
VER
VEREIT, Inc.
VER
|
+$155M |
| 3 |
Playa Hotels & Resorts
PLYA
|
+$19.4M |
| 4 |
VICI Properties
VICI
|
+$10.2M |
| 5 |
Vornado Realty Trust
VNO
|
+$7.79M |
Sector Composition
| Rank | Sector | Weight |
|---|---|---|
| 1 | Financials | 35.29% |
| 2 | Real Estate | 13.59% |
| 3 | Utilities | 9.36% |
| 4 | Communication Services | 8.1% |
| 5 | Consumer Discretionary | 7.23% |
| Name | Market Value | Portfolio Weight | Shares or Principal |
Change in Stake | Capital Flow | Held Since | |
|---|---|---|---|---|---|---|---|
1
Bread Financial
BFH
$3.94B
| $188M | 12.29% |
2,263,379
| – | – |
2020 Q3
3 quarters
|
|
2
PG&E
PCG
$38.9B
| $143M | 9.36% |
14,088,519
+410,000
| +3% | +$4.4M |
2017 Q4
14 quarters
|
|
3
Wells Fargo
WFC
$248B
| $122M | 7.99% |
2,700,477
| – | – |
2020 Q3
3 quarters
|
|
4
Citigroup
C
$203B
| $91.3M | 5.96% |
1,290,000
+70,000
| +6% | +$5.18M |
2013 Q2
32 quarters
|
|
|
SVC
5
Service Properties Trust
SVC
$815M
| $81.1M | 5.3% |
1,286,985
-100,048
| -7% | -$6.21M |
2020 Q2
4 quarters
|
|
6
Bausch Health
BHC
$2.36B
| $67.5M | 4.41% |
2,303,137
+68,551
| +3% | +$2.08M |
2019 Q2
8 quarters
|
|
|
7
DELISTED
Frontier Communications
FYBR
| $66.3M | 4.33% |
+2,512,817
| New | +$63.3M |
2021 Q2
0 quarters
|
|
8
Adient
ADNT
$1.3B
| $58.1M | 3.8% |
1,286,123
| – | – |
2020 Q1
5 quarters
|
|
9
Radian Group
RDN
$4.72B
| $55.9M | 3.65% |
2,512,427
| – | – |
2020 Q3
3 quarters
|
|
|
10
DELISTED
Spirit AeroSystems
SPR
| $49M | 3.2% |
1,037,922
+477,052
| +85% | +$22.6M |
2021 Q1
1 quarter
|
|
|
11
EPR Properties
EPR
$4.29B
| $46.3M | 3.02% |
878,795
-3,187,960
| -78% | -$158M |
2020 Q2
4 quarters
|
|
12
Loma Negra
LOMA
$1.08B
| $44.3M | 2.89% |
6,501,380
| – | – |
2019 Q4
6 quarters
|
|
13
MGIC Investment
MTG
$5.88B
| $44M | 2.87% |
3,234,596
| – | – |
2020 Q3
3 quarters
|
|
|
14
Vornado Realty Trust
VNO
$6.41B
| $43.5M | 2.84% |
931,901
-166,566
| -15% | -$7.79M |
2020 Q2
4 quarters
|
|
15
Laureate Education
LAUR
$5.18B
| $38.1M | 2.49% |
2,627,672
| – | – |
2020 Q2
4 quarters
|
|
|
VER
16
DELISTED
VEREIT, Inc.
VER
| $37.2M | 2.43% |
810,344
-3,427,869
| -81% | -$155M |
2014 Q2
28 quarters
|
|
|
17
AT&T
T
$141B
| $32.2M | 2.11% |
1,482,880
+1,175,712
| +383% | +$26.7M |
2021 Q1
1 quarter
|
|
18
Tenet Healthcare
THC
$21.1B
| $26.7M | 1.75% |
399,138
| – | – |
2017 Q1
17 quarters
|
|
19
DELISTED
Equitrans Midstream Corporation Common Stock
ETRN
| $26.6M | 1.74% |
3,130,760
| – | – |
2018 Q4
10 quarters
|
|
20
Herc Holdings
HRI
$5.22B
| $25.3M | 1.65% |
225,390
| – | – |
2013 Q2
32 quarters
|
|
|
21
American Public Education
APEI
$845M
| $22M | 1.44% |
+777,380
| New | +$23.5M |
2021 Q2
0 quarters
|
|
22
Studio City International Holdings
MSC
$153M
| $20M | 1.31% |
1,737,108
| – | – |
2018 Q4
10 quarters
|
|
|
23
Synchrony
SYF
$24.4B
| $19.4M | 1.27% |
+400,000
| New | +$18.2M |
2021 Q2
0 quarters
|
|
24
Mercer International
MERC
$8.5M
| $18.1M | 1.18% |
1,422,689
-302,702
| -18% | -$4.48M |
2013 Q2
32 quarters
|
|
25
Stagwell
STGW
$2.16B
| $15.6M | 1.02% |
2,675,241
| – | – |
2015 Q2
24 quarters
|
|
Similar funds
MPM
Jonathan Kolatch's Q2 2021 Portfolio in Review
As of Q2 2021, Jonathan Kolatch held 48 positions worth $1.53B, down 25% from $2.05B the previous quarter. Its ten largest holdings account for 60% of the portfolio.
Jonathan Kolatch withdrew a net $119M in Q2 2021, closing 7 positions and reducing 7 holdings. Its most notable exit was VICI Properties, an estimated $10.2M position sold in full.
By sector, the portfolio is most concentrated in Financials at 35% of assets, up from 25% a quarter earlier, followed by Real Estate and Utilities.
Against the trend, Jonathan Kolatch opened a new position in Frontier Communications worth $66.3M.
- Jonathan Kolatch's largest Q2 2021 buy was Frontier Communications: 2,512,817 shares worth $66.3M.
- Jonathan Kolatch added most to AT&T in Q2 2021, an estimated $26.7M increase.
- Jonathan Kolatch's biggest Q2 2021 reduction was EPR Properties, cutting an estimated $158M.
- Jonathan Kolatch fully exited VICI Properties in Q2 2021, selling an estimated $10.2M.
- Jonathan Kolatch's ten largest holdings make up 60% of its $1.53B portfolio in Q2 2021.
- Jonathan Kolatch opened 9 new positions and closed 7 in Q2 2021.
- Jonathan Kolatch's portfolio value fell 25% quarter-over-quarter to $1.53B.
Based on Redwood Capital Management's 13F filing for Q2 2021, filed 16 Aug 2021.