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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
-0.29%
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
$676M
AUM Growth
-$150M
(-18%)
Cap. Flow
-$351M
Cap. Flow
% of AUM
-51.88%
Top 10 Holdings %
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 |
AerCap
AER
|
+$202K |
Top Sells
| Rank | Stock | Value |
|---|---|---|
| 1 |
OPTU
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 | 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 | |
|---|---|---|---|---|---|---|
|
1
AerCap
AER
$23.7B
| $120M | 17.81% |
2,142,023
+3,378
| +0.2% | +$202K |
|
|
LOMA
2
Loma Negra
LOMA
$1.34B
| $40.8M | 6.04% |
5,873,428
| – | – |
|
|
VMW
3
DELISTED
VMware, Inc
VMW
| $30.8M | 4.55% |
+246,631
| New | +$29.6M |
|
4
Dole
DOLE
$1.35B
| $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
$362M
| $21.8M | 3.22% |
3,272,898
-3,013
| -0.1% | -$21K |
|
|
OPTU
7
Optimum Communications Inc
OPTU
$298M
| $20.8M | 3.08% |
6,090,492
-9,199,207
| -60% | -$39.1M |
|
|
8
Citigroup
C
$222B
| $20.2M | 2.99% |
430,500
-309,500
| -42% | -$15.2M |
|
9
Carnival Corporation Ltd
CCL
$38.1B
| $20M | 2.96% |
1,974,260
| – | – |
|
10
Mercer International
MERC
$42.3M
| $18.6M | 2.75% |
1,901,159
| – | – |
|
|
ETRN
11
DELISTED
Equitrans Midstream Corporation Common Stock
ETRN
| $18.1M | 2.68% |
3,130,760
| – | – |
|
12
Telecom Argentina
TEO
$6.03B
| $17.9M | 2.65% |
3,585,329
| – | – |
|
|
13
Adient
ADNT
$1.65B
| $17.4M | 2.57% |
424,280
-679,854
| -62% | -$28.4M |
|
14
Vornado Realty Trust
VNO
$7.41B
| $14.3M | 2.12% |
931,901
| – | – |
|
15
Enact Holdings
ACT
$6.61B
| $11.5M | 1.69% |
500,896
-44,589
| -8% | -$1.06M |
|
16
MGIC Investment
MTG
$6.16B
| $11M | 1.63% |
820,705
| – | – |
|
17
American Public Education
APEI
$890M
| $10M | 1.48% |
1,852,192
| – | – |
|
18
StealthGas
GASS
$332M
| $4.54M | 0.67% |
1,740,278
-375,831
| -18% | -$1.04M |
|
|
CBL
19
CBL Properties
CBL
$1.82B
| $2.97M | 0.44% |
115,946
| – | – |
|
|
20
Ally Financial
ALLY
$13.2B
| $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
$21.8B
| $1.43M | 0.21% |
18,824
| – | – |
|
23
Clear Channel Outdoor Holdings
CCO
$1.23B
| $385K | 0.06% |
321,006
| – | – |
|
24
Vroom Inc
VRM
$39M
| $270K | 0.04% |
3,750
| – | – |
|
|
CURO
25
DELISTED
CURO Group Holdings Corp.
CURO
| $213K | 0.03% |
123,172
| – | – |
|
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Redwood Capital Management's Q1 2023 Portfolio in Review
As of Q1 2023, Redwood Capital Management held 38 positions worth $676M, down 18% from $827M the previous quarter. Its ten largest holdings account for 67% of the portfolio.
Redwood Capital Management 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, Redwood Capital Management opened a new position in VMware, Inc worth $30.8M.
- Redwood Capital Management's largest Q1 2023 buy was VMware, Inc: 246,631 shares worth $30.8M.
- Redwood Capital Management added most to AerCap in Q1 2023, an estimated $202K increase.
- Redwood Capital Management's biggest Q1 2023 reduction was Optimum Communications Inc, cutting an estimated $39.1M.
- Redwood Capital Management fully exited Tenet Healthcare in Q1 2023, selling an estimated $19.5M.
- Redwood Capital Management's ten largest holdings make up 67% of its $676M portfolio in Q1 2023.
- Redwood Capital Management opened 1 new position and closed 4 in Q1 2023.
- Redwood Capital Management'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.