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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
-0.29%
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
$676M
AUM Growth
-$150M
(-18%)
Cap. Flow
-$315M
Cap. Flow % of AUM
Cap. Flow %
-46.56%
Top 10 Holdings %
Top 10 Hldgs %
66.76%
Holding
38
New
1
Increased
1
Reduced
9
Closed
4
Avg Time Held
Equity + Options
2.9
years
Top 10 Avg Time Held
Equity + Options
0.5
years
Top 20 Avg Time Held
Equity + Options
1.5
years
Avg Time Held Equity only
2.9
years
Top 10 Avg Time Held Equity only
0.5
years
Top 20 Avg Time Held Equity only
1.6
years
Top Buys
| Rank | Stock | Value |
|---|---|---|
| 1 |
VMW
VMware, Inc
VMW
|
+$29.6M |
| 2 |
AerCap
AER
|
+$202K |
Top Sells
| Rank | Stock | Value |
|---|---|---|
| 1 |
Optimum Communications Inc
OPTU
|
+$39.1M |
| 2 |
Adient
ADNT
|
+$28.4M |
| 3 |
Ally Financial
ALLY
|
+$28M |
| 4 |
Tenet Healthcare
THC
|
+$19.5M |
| 5 |
Citigroup
C
|
+$15.2M |
Sector Composition
| Rank | Sector | Weight |
|---|---|---|
| 1 | Miscellaneous | 30.89% |
| 2 | Industrials | 22.9% |
| 3 | Consumer Discretionary | 8.99% |
| 4 | Materials | 8.79% |
| 5 | Financials | 6.76% |
| Name | Market Value | Portfolio Weight | Shares or Principal |
Change in Stake | Capital Flow | Held Since | |
|---|---|---|---|---|---|---|---|
|
1
AerCap
AER
$26.7B
| $120M | 17.81% |
2,142,023
+3,378
| +0.2% | +$202K |
2021 Q3
6 quarters
|
|
2
Loma Negra
LOMA
$1.02B
| $40.8M | 6.04% |
5,873,428
| – | – |
2019 Q4
13 quarters
|
|
|
VMW
3
DELISTED
VMware, Inc
VMW
| $30.8M | 4.55% |
+246,631
| New | +$29.6M |
2023 Q1
0 quarters
|
|
4
Dole
DOLE
$1.34B
| $29.8M | 4.41% |
2,541,925
-15,762
| -0.6% | -$176K |
2021 Q3
6 quarters
|
|
5
DELISTED
Spirit AeroSystems
SPR
| $29.8M | 4.41% |
864,079
-350,000
| -29% | -$11.7M |
2021 Q1
8 quarters
|
|
6
Studio City International Holdings
MSC
$181M
| $21.8M | 3.22% |
3,272,898
-3,013
| -0.1% | -$21K |
2018 Q4
17 quarters
|
|
|
7
Optimum Communications Inc
OPTU
$205M
| $20.8M | 3.08% |
6,090,492
-9,199,207
| -60% | -$39.1M |
2021 Q3
6 quarters
|
|
|
8
Citigroup
C
$205B
| $20.2M | 2.99% |
430,500
-309,500
| -42% | -$15.2M |
2013 Q2
39 quarters
|
|
9
Carnival Corporation Ltd
CCL
$39.4B
| $20M | 2.96% |
1,974,260
| – | – |
2020 Q4
9 quarters
|
|
10
Mercer International
MERC
$16.3M
| $18.6M | 2.75% |
1,901,159
| – | – |
2013 Q2
39 quarters
|
|
11
DELISTED
Equitrans Midstream Corporation Common Stock
ETRN
| $18.1M | 2.68% |
3,130,760
| – | – |
2018 Q4
17 quarters
|
|
12
Telecom Argentina
TEO
$4.57B
| $17.9M | 2.65% |
3,585,329
| – | – |
2013 Q2
39 quarters
|
|
|
13
Adient
ADNT
$1.2B
| $17.4M | 2.57% |
424,280
-679,854
| -62% | -$28.4M |
2020 Q1
12 quarters
|
|
14
Vornado Realty Trust
VNO
$6.51B
| $14.3M | 2.12% |
931,901
| – | – |
2020 Q2
11 quarters
|
|
15
Enact Holdings
ACT
$6.11B
| $11.5M | 1.69% |
500,896
-44,589
| -8% | -$1.06M |
2021 Q3
6 quarters
|
|
16
MGIC Investment
MTG
$5.52B
| $11M | 1.63% |
820,705
| – | – |
2020 Q3
10 quarters
|
|
17
American Public Education
APEI
$741M
| $10M | 1.48% |
1,852,192
| – | – |
2021 Q2
7 quarters
|
|
18
StealthGas
GASS
$306M
| $4.54M | 0.67% |
1,740,278
-375,831
| -18% | -$1.04M |
2014 Q2
35 quarters
|
|
19
CBL Properties
CBL
$1.69B
| $2.97M | 0.44% |
115,946
| – | – |
2021 Q4
5 quarters
|
|
|
20
Ally Financial
ALLY
$11.5B
| $2.55M | 0.38% |
100,000
-977,568
| -91% | -$28M |
2016 Q2
27 quarters
|
|
21
DELISTED
American Woodmark
AMWD
| $1.56M | 0.23% |
30,000
| – | – |
2022 Q2
3 quarters
|
|
22
Expand Energy Corp
EXE
$20.4B
| $1.43M | 0.21% |
18,824
| – | – |
2021 Q3
6 quarters
|
|
23
DELISTED
Clear Channel Outdoor Holdings
CCO
| $385K | 0.06% |
321,006
| – | – |
2019 Q2
15 quarters
|
|
24
Vroom Inc
VRM
$36.7M
| $270K | 0.04% |
3,750
| – | – |
2021 Q4
5 quarters
|
|
|
CURO
25
DELISTED
CURO Group Holdings Corp.
CURO
| $213K | 0.03% |
123,172
| – | – |
2018 Q4
17 quarters
|
|
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Jonathan Kolatch's Q1 2023 Portfolio in Review
As of Q1 2023, Jonathan Kolatch held 38 positions worth $676M, down 18% from $827M the previous quarter. Its ten largest holdings account for 67% of the portfolio.
Jonathan Kolatch withdrew a net $315M in Q1 2023, closing 4 positions and reducing 9 holdings. Its most notable exit was Tenet Healthcare, an estimated $19.5M position sold in full.
By sector, the portfolio is most concentrated in Miscellaneous at 31% of assets, up from 28% a quarter earlier, followed by Industrials and Consumer Discretionary.
Against the trend, Jonathan Kolatch opened a new position in VMware, Inc worth $30.8M.
- Jonathan Kolatch's largest Q1 2023 buy was VMware, Inc: 246,631 shares worth $30.8M.
- Jonathan Kolatch added most to AerCap in Q1 2023, an estimated $202K increase.
- Jonathan Kolatch's biggest Q1 2023 reduction was Optimum Communications Inc, cutting an estimated $39.1M.
- Jonathan Kolatch fully exited Tenet Healthcare in Q1 2023, selling an estimated $19.5M.
- Jonathan Kolatch's ten largest holdings make up 67% of its $676M portfolio in Q1 2023.
- Jonathan Kolatch opened 1 new position and closed 4 in Q1 2023.
- Jonathan Kolatch's portfolio value fell 18% quarter-over-quarter to $676M.
Based on Redwood Capital Management's 13F filing for Q1 2023, filed 15 May 2023.