REDWOOD CAPITAL MANAGEMENT, LLC

New York, NY · CIK 1316622 · 13F filing filed 2024-08-14

SEC-registered investment adviser since 2012 · limited liability company

Assets managed$11.0bn
Staff33 · 16 in investment roles
Main clients (by assets)Private funds 100%
Private funds5 (5 hedge) · $10.9bn gross assets
Websiteredwoodcap.com
Form ADV · 2026-05-12SEC adviser record

Legal entityREDWOOD CAPITAL MANAGEMENT, LLC (US)

$650.4m reported value -8.3% vs Q1 2024

17positions

92.6%in top 10

1 new 5 added 4 reduced 4 sold out vs Q1 2024

This report includes the holdings of 1 other manager that shares the investment decisions:

Redwood Capital Management Holdings, LP – reports through this filing

Shares in two reports are counted once in each security's totals.

Holdings, Q2 2024

The small lines show how much was held over the last 4 quarters (adjusted for stock splits).

#	Security	Ticker	Shares	Value	% of portfolio	Change	Shares change
1	AERCAP HOLDINGS NV SHS AER	AER	2,142,023	$199.6m30.69%	30.69%	Unchanged
2	ECHOSTAR CORP CL A ECHO	ECHO	5,915,934	$105.4m16.20%	16.20%	Added +1.4m	+1,446,049 32.4%
3	DISH NETWORK CORPORATION NOTE 12/1 · principal DISH 0 12.15.25 · principal	DISH 0 12.15.25	108,722,000	$80.0m12.30%	12.30%	Unchanged
4	UPSTART HLDGS INC NOTE 0.250% 8/1 · principal UPST 0.25 08.15.26 · principal	UPST 0.25 08.15.26	76,456,000	$59.5m9.15%	9.15%	Unchanged
5	DISH NETWORK CORPORATION NOTE 3.375% 8/1 · principal DISH 3.375 08.15.26 · principal	DISH 3.375 08.15.26	72,298,000	$45.7m7.02%	7.02%	Added +7.3m	+7,278,000 11.2%
6	LOMA NEGRA C I A S A MTN 14 SPONSORED ADS LOMA	LOMA	4,490,486	$30.4m4.67%	4.67%	Reduced -1.4m	-1,382,942 -23.6%
7	AMERICAN PUB ED INC COM APEI	APEI	1,402,082	$24.6m3.79%	3.79%	Reduced -9.8k	-9,800 -0.7%
8	CARNIVAL CORP UNIT 99/99/9999 UNIT 99/99/9999		1,124,260	$21.0m3.24%	3.24%	Unchanged
9	STUDIO CITY INTL HLDGS LTD SPON ADS MSC	MSC	3,268,921	$19.1m2.94%	2.94%	Added +51	+51 0.0%
10	ALTICE USA INC CL A OPTU	OPTU	8,189,270	$16.7m2.57%	2.57%	Unchanged
11	MERCER INTL INC COM MERC	MERC	1,712,725	$14.6m2.25%	2.25%	Reduced -188.4k	-188,434 -9.9%
12	CAESARS ENTERTAINMENT INC NE COM CZR	CZR	320,000	$12.7m1.96%	1.96%	Added +100.0k	+100,000 45.5%
13	UNITED STATES STL CORP NEW COM X	X	300,000	$11.3m1.74%	1.74%	Added +100.0k	+100,000 50.0%
14	NEBIUS GROUP N.V. SHS CLASS A NBIS	NBIS	387,585	$3.5m0.53%	0.53%	Unchanged
15	CBL & ASSOC PPTYS INC COMMON STOCK CBL	CBL	117,613	$2.7m0.42%	0.42%	Unchanged
16	TELECOM ARGENTINA SA SPON ADR REP B TEO	TEO	340,428	$2.5m0.38%	0.38%	Reduced -2.1m	-2,091,442 -86.0%
17	OFFICE PPTYS INCOME TR COM SHS BEN INT OPITQ	OPITQ	489,684	$999.0k0.15%	0.15%	New

Sold out since Q1 2024

Security	Ticker	Shares held before	Value then
ALLY FINL INC ALLY	ALLY	977,568	$39.7m977.6k shares
DOLE PLC DOLE	DOLE	1,955,748	$23.3m2.0m shares
CITIGROUP INC C	C	295,680	$18.7m295.7k shares
SPDR S&P 500 ETF TR SPY	SPY	32,923	$17.2m32.9k shares

Stakes above 5%

Companies where this manager has reported owning more than 5% of a class of shares, on Schedule 13D (may seek influence) or 13G (passive): its latest filing for each, from 19 Dec 2024 on.

Company	Ticker	Stake	Change	Schedule	Last filed
OFFICE PPTYS INCOME TR OPI · 13D · filed 2026-08-19	OPI	18.0%≈ $67.4m	-1.7 pts	13D	2026-08-19
MERCER INTL INC MERC · 13G · filed 2025-11-14	MERC	6.9%≈ $3.1m	+1.9 pts	13G	2025-11-14
GOHEALTH INC 13D · filed 2025-08-13		5.8%	new	13D	2025-08-13