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RCM
Redwood Capital Management Portfolio holdings
AUM
$674M
1-Year Est. Return
99.78%
This Fund
S&P 500
This Quarter
Est. Return
+15.16%
1 Year Est. Return
+99.78%
3 Year Est. Return
+236.42%
5 Year Est. Return
+141.76%
10 Year Est. Return
+379.82%
AUM
$729M
AUM Growth
-$189M
(-21%)
Cap. Flow
-$259M
Cap. Flow
% of AUM
-35.54%
Top 10 Holdings %
Top 10 Hldgs %
68.22%
Holding
62
New
2
Increased
4
Reduced
8
Closed
13
Top Buys
| Rank | Stock | Value |
|---|---|---|
| 1 |
PG&E
PCG
|
+$13.4M |
| 2 |
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 |
Telecom Argentina
TEO
|
+$1.14M |
Top Sells
| Rank | Stock | Value |
|---|---|---|
| 1 |
AABA
Altaba Inc
AABA
|
+$114M |
| 2 |
CELG
Celgene Corp
CELG
|
+$84.9M |
| 3 |
Owens Corning
OC
|
+$19M |
| 4 |
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 | Industrials | 6.98% |
| Name | Market Value | Portfolio Weight | Shares or Principal |
Change in Stake | Capital Flow | |
|---|---|---|---|---|---|---|
|
1
PG&E
PCG
$39.2B
| $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 |
|
3
Tenet Healthcare
THC
$22.6B
| $62M | 8.51% |
1,631,301
-99,089
| -6% | -$2.97M |
|
4
Citigroup
C
$222B
| $61.5M | 8.44% |
770,000
| – | – |
|
|
5
Bausch Health
BHC
$1.69B
| $47.9M | 6.57% |
1,600,000
+300,000
| +23% | +$7.8M |
|
6
Mercer International
MERC
$45.6M
| $25.5M | 3.49% |
2,070,724
| – | – |
|
|
MSC
7
Studio City International Holdings
MSC
$341M
| $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
| – | – |
|
10
Prudential Financial
PRU
$43B
| $18.7M | 2.57% |
200,000
| – | – |
|
11
Herc Holdings
HRI
$4.95B
| $17.6M | 2.42% |
360,352
| – | – |
|
12
Takeda Pharmaceutical
TAK
$56B
| $16.3M | 2.24% |
827,955
| – | – |
|
|
PARA
13
DELISTED
Paramount Global Class B
PARA
| $16.1M | 2.21% |
384,200
| – | – |
|
|
14
Telecom Argentina
TEO
$5.86B
| $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
| – | – |
|
17
General Motors
GM
$81.7B
| $12.8M | 1.76% |
350,200
| – | – |
|
|
DCH
18
Dauch Corp
DCH
$1.33B
| $12M | 1.64% |
1,114,132
| – | – |
|
|
VRS
19
DELISTED
Verso Corporation
VRS
| $11.5M | 1.58% |
638,356
-130,758
| -17% | -$2.1M |
|
20
YPF
YPF
$19.5B
| $10.2M | 1.4% |
880,385
| – | – |
|
|
LOMA
21
Loma Negra
LOMA
$1.34B
| $9.62M | 1.32% |
+1,229,686
| New | +$7.79M |
|
22
Centene
CNC
$31.6B
| $9.43M | 1.29% |
150,000
| – | – |
|
23
StealthGas
GASS
$329M
| $8.28M | 1.14% |
2,415,287
| – | – |
|
24
Stagwell
STGW
$1.98B
| $6.76M | 0.93% |
2,432,814
| – | – |
|
25
Delta Air Lines
DAL
$58.8B
| $5.85M | 0.8% |
100,000
| – | – |
|
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Redwood Capital Management's Q4 2019 Portfolio in Review
As of Q4 2019, Redwood Capital Management held 62 positions worth $729M, down 21% from $917M the previous quarter. Its ten largest holdings account for 68% of the portfolio.
Redwood Capital Management 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, Redwood Capital Management opened a new position in Loma Negra worth $9.62M.
- Redwood Capital Management's largest Q4 2019 buy was Loma Negra: 1,229,686 shares worth $9.62M.
- Redwood Capital Management added most to PG&E in Q4 2019, an estimated $13.4M increase.
- Redwood Capital Management's biggest Q4 2019 reduction was VEREIT, Inc., cutting an estimated $9.68M.
- Redwood Capital Management fully exited Altaba Inc in Q4 2019, selling an estimated $114M.
- Redwood Capital Management's ten largest holdings make up 68% of its $729M portfolio in Q4 2019.
- Redwood Capital Management opened 2 new positions and closed 13 in Q4 2019.
- Redwood Capital Management'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.