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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
-35.27%
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
$547M
AUM Growth
-$182M
(-25%)
Cap. Flow
+$164M
Cap. Flow
% of AUM
29.98%
Top 10 Holdings %
Top 10 Hldgs %
61.96%
Holding
62
New
13
Increased
9
Reduced
7
Closed
9
Top Buys
| Rank | Stock | Value |
|---|---|---|
| 1 |
VICI Properties
VICI
|
+$46.6M |
| 2 |
Bausch Health
BHC
|
+$34.9M |
| 3 |
Williams Companies
WMB
|
+$28.6M |
| 4 |
ETRN
Equitrans Midstream Corporation Common Stock
ETRN
|
+$25.8M |
| 5 |
LOMA
Loma Negra
LOMA
|
+$20.4M |
Top Sells
| Rank | Stock | Value |
|---|---|---|
| 1 |
Citigroup
C
|
+$31.5M |
| 2 |
PG&E
PCG
|
+$29.2M |
| 3 |
Prudential Financial
PRU
|
+$18.7M |
| 4 |
Delta Air Lines
DAL
|
+$5.85M |
| 5 |
ZAYO
Zayo Group Holdings, Inc.
ZAYO
|
+$5.2M |
Sector Composition
| Rank | Sector | Weight |
|---|---|---|
| 1 | Healthcare | 20.05% |
| 2 | Utilities | 18.53% |
| 3 | Consumer Discretionary | 11.13% |
| 4 | Real Estate | 8.85% |
| 5 | Energy | 8.76% |
| Name | Market Value | Portfolio Weight | Shares or Principal |
Change in Stake | Capital Flow | |
|---|---|---|---|---|---|---|
|
1
PG&E
PCG
$38.3B
| $96.1M | 17.56% |
10,685,548
-2,198,204
| -17% | -$29.2M |
|
|
2
Bausch Health
BHC
$2.58B
| $47.2M | 8.63% |
3,048,163
+1,448,163
| +91% | +$34.9M |
|
|
VER
3
DELISTED
VEREIT, Inc.
VER
| $43.8M | 8.01% |
1,793,316
+135,000
| +8% | +$5.7M |
|
|
4
VICI Properties
VICI
$29B
| $33.2M | 6.07% |
+1,994,465
| New | +$46.6M |
|
|
MSC
5
Studio City International Holdings
MSC
$362M
| $24.6M | 4.5% |
1,219,536
| – | – |
|
6
Tenet Healthcare
THC
$20.5B
| $21.6M | 3.95% |
1,499,054
-132,247
| -8% | -$3.8M |
|
|
7
Williams Companies
WMB
$87.5B
| $20.9M | 3.81% |
+1,475,000
| New | +$28.6M |
|
|
ETRN
8
DELISTED
Equitrans Midstream Corporation Common Stock
ETRN
| $20.1M | 3.68% |
4,002,453
+2,950,000
| +280% | +$25.8M |
|
|
LOMA
9
Loma Negra
LOMA
$1.34B
| $16.5M | 3.01% |
4,640,434
+3,410,748
| +277% | +$20.4M |
|
10
Mercer International
MERC
$42.3M
| $15M | 2.74% |
2,070,724
| – | – |
|
|
TPIC
11
DELISTED
TPI Composites
TPIC
| $14.5M | 2.65% |
981,379
-50,000
| -5% | -$984K |
|
12
Telecom Argentina
TEO
$6.03B
| $13.7M | 2.5% |
1,482,084
+86,392
| +6% | +$943K |
|
|
13
Citigroup
C
$222B
| $12.6M | 2.31% |
300,000
-470,000
| -61% | -$31.5M |
|
14
Takeda Pharmaceutical
TAK
$54.6B
| $12.6M | 2.3% |
827,955
| – | – |
|
15
Gaming and Leisure Properties
GLPI
$12.7B
| $12.1M | 2.22% |
+438,036
| New | +$18M |
|
|
CZR
16
DELISTED
Caesars Entertainment Corporation
CZR
| $10.8M | 1.98% |
1,600,000
| – | – |
|
17
Herc Holdings
HRI
$5.02B
| $9.48M | 1.73% |
463,352
+103,000
| +29% | +$3.76M |
|
18
HCA Healthcare
HCA
$87.2B
| $8.98M | 1.64% |
+100,000
| New | +$12.9M |
|
19
Centene
CNC
$30.7B
| $8.91M | 1.63% |
150,000
| – | – |
|
20
MetLife
MET
$61.9B
| $8.41M | 1.54% |
+275,000
| New | +$12.2M |
|
|
PLYA
21
DELISTED
Playa Hotels & Resorts
PLYA
| $7.6M | 1.39% |
4,343,629
+2,705,019
| +165% | +$15.5M |
|
|
VRS
22
DELISTED
Verso Corporation
VRS
| $6.71M | 1.23% |
594,433
-43,923
| -7% | -$685K |
|
|
TCO
23
DELISTED
Taubman Centers Inc.
TCO
| $6.49M | 1.19% |
+155,000
| New | +$6.46M |
|
24
Hilton Grand Vacations
HGV
$3.59B
| $6.01M | 1.1% |
381,214
+250,000
| +191% | +$6.87M |
|
|
PARA
25
DELISTED
Paramount Global Class B
PARA
| $5.38M | 0.98% |
384,200
| – | – |
|
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Redwood Capital Management's Q1 2020 Portfolio in Review
As of Q1 2020, Redwood Capital Management held 62 positions worth $547M, down 25% from $729M the previous quarter. Its ten largest holdings account for 62% of the portfolio.
Redwood Capital Management deployed $164M of net new capital in Q1 2020, opening 13 new positions and adding to 9 existing holdings. Its largest new stake was VICI Properties: 1,994,465 shares worth $33.2M.
By sector, the portfolio is most concentrated in Healthcare at 20% of assets, up from 19% a quarter earlier, followed by Utilities and Consumer Discretionary.
On the sell side, the largest reduction was Citigroup, an estimated $31.5M trimmed.
- Redwood Capital Management's largest Q1 2020 buy was VICI Properties: 1,994,465 shares worth $33.2M.
- Redwood Capital Management added most to Bausch Health in Q1 2020, an estimated $34.9M increase.
- Redwood Capital Management's biggest Q1 2020 reduction was Citigroup, cutting an estimated $31.5M.
- Redwood Capital Management fully exited Prudential Financial in Q1 2020, selling an estimated $18.7M.
- Redwood Capital Management's ten largest holdings make up 62% of its $547M portfolio in Q1 2020.
- Redwood Capital Management opened 13 new positions and closed 9 in Q1 2020.
- Redwood Capital Management's portfolio value fell 25% quarter-over-quarter to $547M.
Based on Redwood Capital Management's 13F filing for Q1 2020, filed 15 May 2020.