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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
-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
Cap. Flow
-$351M
Cap. Flow %
-51.88%
Top 10 Hldgs %
66.76%
Holding
38
New
1
Increased
1
Reduced
9
Closed
4

Top Buys

Rank Stock Value
1
VMW
VMware, Inc
VMW
+$29.6M
2
AER icon
AerCap
AER
+$202K

Top Sells

Rank Stock Value
1
OPTU
Optimum Communications Inc
OPTU
+$39.1M
2
ADNT icon
Adient
ADNT
+$28.4M
3
ALLY icon
Ally Financial
ALLY
+$28M
4
THC icon
Tenet Healthcare
THC
+$19.5M
5
C icon
Citigroup
C
+$15.2M

Sector Composition

Rank Sector Weight
1 Industrials 22.9%
2 Consumer Discretionary 8.99%
3 Materials 8.79%
4 Financials 6.76%
5 Consumer Staples 5.9%
Name Market Value Portfolio Weight Shares or Principal Change
in Stake 		Capital Flow
AER icon
1
AerCap
AER
$23B
$120M 17.81%
2,142,023
+3,378
+0.2% +$202K
LOMA
2
Loma Negra
LOMA
$1.09B
$40.8M 6.04%
5,873,428
– –
VMW
3
DELISTED
VMware, Inc
VMW
$30.8M 4.55%
+246,631
New +$29.6M
DOLE icon
4
Dole
DOLE
$1.26B
$29.8M 4.41%
2,541,925
-15,762
-0.6% -$176K
SPR
5
DELISTED
Spirit AeroSystems
SPR
$29.8M 4.41%
864,079
-350,000
-29% -$11.7M
MSC
6
Studio City International Holdings
MSC
$356M
$21.8M 3.22%
3,272,898
-3,013
-0.1% -$21K
OPTU
7
Optimum Communications Inc
OPTU
$323M
$20.8M 3.08%
6,090,492
-9,199,207
-60% -$39.1M
C icon
8
Citigroup
C
$221B
$20.2M 2.99%
430,500
-309,500
-42% -$15.2M
CCL icon
9
Carnival Corporation Ltd
CCL
$35.2B
$20M 2.96%
1,974,260
– –
MERC icon
10
Mercer International
MERC
$28.5M
$18.6M 2.75%
1,901,159
– –
ETRN
11
DELISTED
Equitrans Midstream Corporation Common Stock
ETRN
$18.1M 2.68%
3,130,760
– –
TEO icon
12
Telecom Argentina
TEO
$5.66B
$17.9M 2.65%
3,585,329
– –
ADNT icon
13
Adient
ADNT
$1.54B
$17.4M 2.57%
424,280
-679,854
-62% -$28.4M
VNO icon
14
Vornado Realty Trust
VNO
$7.07B
$14.3M 2.12%
931,901
– –
ACT icon
15
Enact Holdings
ACT
$6.76B
$11.5M 1.69%
500,896
-44,589
-8% -$1.06M
MTG icon
16
MGIC Investment
MTG
$6.34B
$11M 1.63%
820,705
– –
APEI icon
17
American Public Education
APEI
$835M
$10M 1.48%
1,852,192
– –
GASS icon
18
StealthGas
GASS
$358M
$4.54M 0.67%
1,740,278
-375,831
-18% -$1.04M
CBL
19
CBL Properties
CBL
$1.71B
$2.97M 0.44%
115,946
– –
ALLY icon
20
Ally Financial
ALLY
$13.1B
$2.55M 0.38%
100,000
-977,568
-91% -$28M
AMWD
21
DELISTED
American Woodmark
AMWD
$1.56M 0.23%
30,000
– –
EXE
22
Expand Energy Corp
EXE
$22.2B
$1.43M 0.21%
18,824
– –
CCO icon
23
Clear Channel Outdoor Holdings
CCO
$1.21B
$385K 0.06%
321,006
– –
VRM icon
24
Vroom Inc
VRM
$53.8M
$270K 0.04%
3,750
– –
CURO
25
DELISTED
CURO Group Holdings Corp.
CURO
$213K 0.03%
123,172
– –
1
2

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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 $351M 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 Industrials at 23% of assets, up from 20% a quarter earlier, followed by Consumer Discretionary and Materials.

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.