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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
-4.55%
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
$1.22B
AUM Growth
-$84.5M
Cap. Flow
-$124M
Cap. Flow %
-10.17%
Top 10 Hldgs %
57.09%
Holding
50
New
5
Increased
9
Reduced
7
Closed
5

Top Buys

Rank Stock Value
1
OPTU
Optimum Communications Inc
OPTU
+$96.8M
2
LYLT
Loyalty Ventures Inc. Common Stock
LYLT
+$54.4M
3
CCL icon
Carnival Corporation Ltd
CCL
+$28.3M
4
AER icon
AerCap
AER
+$21.9M
5
MERC icon
Mercer International
MERC
+$11.1M

Top Sells

Rank Stock Value
1
PCG icon
PG&E
PCG
+$138M
2
C icon
Citigroup
C
+$26.6M
3
MTG icon
MGIC Investment
MTG
+$26.4M
4
HRI icon
Herc Holdings
HRI
+$24.6M
5
VER
VEREIT, Inc.
VER
+$21.5M

Sector Composition

Rank Sector Weight
1 Financials 18.8%
2 Industrials 17.22%
3 Communication Services 15.41%
4 Consumer Discretionary 12.9%
5 Healthcare 8.44%
Name Market Value Portfolio Weight Shares or Principal Change
in Stake 		Capital Flow
OPTU
1
Optimum Communications Inc
OPTU
$323M
$130M 10.69%
8,046,954
+5,708,584
+244% +$96.8M
ADNT icon
2
Adient
ADNT
$1.54B
$87.9M 7.22%
1,835,977
– –
SPR
3
DELISTED
Spirit AeroSystems
SPR
$79M 6.49%
1,834,079
+170,000
+10% +$7.28M
AER icon
4
AerCap
AER
$23B
$73M 5.99%
1,115,593
+353,294
+46% +$21.9M
BHC icon
5
Bausch Health
BHC
$2.41B
$66.4M 5.45%
2,403,137
– –
BFH icon
6
Bread Financial
BFH
$4.07B
$59.6M 4.9%
895,478
+50,610
+6% +$3.74M
C icon
7
Citigroup
C
$221B
$53.7M 4.41%
890,000
-400,000
-31% -$26.6M
RDN icon
8
Radian Group
RDN
$4.84B
$53.1M 4.36%
2,512,427
– –
LYLT
9
DELISTED
Loyalty Ventures Inc. Common Stock
LYLT
$50.7M 4.16%
+1,686,029
New +$54.4M
APEI icon
10
American Public Education
APEI
$835M
$41.2M 3.38%
1,852,192
+344,879
+23% +$8.19M
CCL icon
11
Carnival Corporation Ltd
CCL
$35.2B
$39.7M 3.26%
1,974,260
+1,324,260
+204% +$28.3M
LOMA
12
Loma Negra
LOMA
$1.09B
$39.2M 3.22%
5,873,428
– –
VNO icon
13
Vornado Realty Trust
VNO
$7.07B
$39M 3.2%
931,901
– –
MERC icon
14
Mercer International
MERC
$28.5M
$37.4M 3.07%
3,117,131
+1,003,353
+47% +$11.1M
DOLE icon
15
Dole
DOLE
$1.26B
$34.1M 2.8%
2,557,687
+200,000
+8% +$2.8M
THC icon
16
Tenet Healthcare
THC
$22.6B
$32.6M 2.68%
399,138
– –
ETRN
17
DELISTED
Equitrans Midstream Corporation Common Stock
ETRN
$32.4M 2.66%
3,130,760
– –
ACT icon
18
Enact Holdings
ACT
$6.76B
$31M 2.55%
1,500,000
– –
PCG icon
19
PG&E
PCG
$38.8B
$28M 2.3%
2,309,809
-11,778,710
-84% -$138M
T icon
20
AT&T
T
$173B
$27.6M 2.26%
1,482,880
– –
MTG icon
21
MGIC Investment
MTG
$6.34B
$21.5M 1.77%
1,491,195
-1,743,401
-54% -$26.4M
TEO icon
22
Telecom Argentina
TEO
$5.66B
$18.3M 1.5%
3,585,329
+642,197
+22% +$3.3M
STGW icon
23
Stagwell
STGW
$2.13B
$10.5M 0.87%
1,215,605
-534,867
-31% -$4.6M
STLA icon
24
Stellantis
STLA
$20.4B
$10.5M 0.86%
560,000
– –
PLYA
25
DELISTED
Playa Hotels & Resorts
PLYA
$9.74M 0.8%
1,221,228
-431,599
-26% -$3.46M
1
2

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Jonathan Kolatch's Q4 2021 Portfolio in Review

As of Q4 2021, Jonathan Kolatch held 50 positions worth $1.22B, down 6.5% from $1.3B the previous quarter. Its ten largest holdings account for 57% of the portfolio.

Jonathan Kolatch withdrew a net $124M in Q4 2021, closing 5 positions and reducing 7 holdings. Its most notable exit was VEREIT, Inc., an estimated $21.5M position sold in full.

By sector, the portfolio is most concentrated in Financials at 19% of assets, down from 25% a quarter earlier, followed by Industrials and Communication Services.

Against the trend, Jonathan Kolatch opened a new position in Loyalty Ventures Inc. Common Stock worth $50.7M.

  • Jonathan Kolatch's largest Q4 2021 buy was Loyalty Ventures Inc. Common Stock: 1,686,029 shares worth $50.7M.
  • Jonathan Kolatch added most to Optimum Communications Inc in Q4 2021, an estimated $96.8M increase.
  • Jonathan Kolatch's biggest Q4 2021 reduction was PG&E, cutting an estimated $138M.
  • Jonathan Kolatch fully exited VEREIT, Inc. in Q4 2021, selling an estimated $21.5M.
  • Jonathan Kolatch's ten largest holdings make up 57% of its $1.22B portfolio in Q4 2021.
  • Jonathan Kolatch opened 5 new positions and closed 5 in Q4 2021.
  • Jonathan Kolatch's portfolio value fell 6.5% quarter-over-quarter to $1.22B.

Based on Redwood Capital Management's 13F filing for Q4 2021, filed 14 Feb 2022.