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REDWOOD CAPITAL MANAGEMENT, LLC

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13F filer, CIK 1316622, New York, NY

REDWOOD CAPITAL MANAGEMENT, LLC reported $1,032,198,699 across 17 holdings for the quarter ended 2025-09-30, in a 13F-HR filed 2025-11-14. Its ten largest share positions make up 96.57% of the portfolio.

Filed (acceptance time not in the bulk data set), ingested 13F-HR 0000919574-25-006883

Period
2025-09-30
Reported value
$1.03B
Holdings
17
Top 10 weight
96.57%
New
6
Sold out
0

Part of the filer group REDWOOD CAPITAL MANAGEMENT, LLC

How groups are built

Largest buys vs the previous quarter

SecurityShares changeApprox. value
GBTGnew+21,453,815$173M
ELVnew+52,500$17M
MOHnew+58,400$11.2M
UNHnew+27,500$9.5M
CNCnew+208,500$7.44M

Ranked by the share change valued at this quarter's implied price (value over shares in the 13F). A position sold out is valued at the previous quarter's price, its last report.

Largest sells vs the previous quarter

SecurityShares changeApprox. value
ECHOreduced-2,345,042-$179M
APEIreduced-695,379-$27.4M
AERreduced-105,000-$12.7M

Ranked by the share change valued at this quarter's implied price (value over shares in the 13F). A position sold out is valued at the previous quarter's price, its last report.

Holdings, Q3 2025

Share positions as resolved from 13F-HR 0000919574-25-006883, largest first. % of portfolio is the value over $1,032,198,699, the sum of the share positions whose value is usable for ratios (method).

SecurityHistorySharesValue% of portfolioChangeLatest eventTimeline
ECHOECHOSTAR CORPQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 5,915,934 shares; 2024Q4: 7,059,984 shares; 2025Q1: 6,359,984 shares; 2025Q2: 7,944,841 shares; 2025Q3: 5,599,799 shares 5,599,799$428M41.43%-2,345,042Timeline
GBTGGLOBAL BUSINESS TRAVEL GROUPQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: not reported; 2024Q4: not reported; 2025Q1: not reported; 2025Q2: not reported; 2025Q3: 21,453,815 shares 21,453,815$173M16.79%newTimeline
AERAERCAP HOLDINGS NVQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 2,142,023 shares; 2024Q4: 2,024,863 shares; 2025Q1: 1,624,863 shares; 2025Q2: 1,409,863 shares; 2025Q3: 1,304,863 shares 1,304,863$158M15.3%-105,000Timeline
TDSTELEPHONE & DATA SYS INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: not reported; 2024Q4: not reported; 2025Q1: 570,213 shares; 2025Q2: 870,213 shares; 2025Q3: 876,580 shares 876,580$34.4M3.33%+6,367Timeline
OPTUOPTIMUM COMMUNICATIONS INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 8,189,270 shares; 2024Q4: 8,189,270 shares; 2025Q1: 8,189,270 shares; 2025Q2: 8,189,270 shares; 2025Q3: 8,189,270 shares 8,189,270$19.7M1.91%0Timeline
ELVELEVANCE HEALTH INC FORMERLYQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: not reported; 2024Q4: not reported; 2025Q1: not reported; 2025Q2: not reported; 2025Q3: 52,500 shares 52,500$17M1.64%newTimeline
MERCMERCER INTL INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 1,712,725 shares; 2024Q4: 1,712,725 shares; 2025Q1: 1,712,725 shares; 2025Q2: 3,368,840 shares; 2025Q3: 4,648,133 shares 4,648,133$13.4M1.3%+1,279,293Timeline
MOHMOLINA HEALTHCARE INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: not reported; 2024Q4: not reported; 2025Q1: not reported; 2025Q2: not reported; 2025Q3: 58,400 shares 58,400$11.2M1.08%newTimeline
UNHUNITEDHEALTH GROUP INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: not reported; 2024Q4: not reported; 2025Q1: not reported; 2025Q2: not reported; 2025Q3: 27,500 shares 27,500$9.5M0.92%newTimeline
MSCSTUDIO CITY INTL HLDGS LTDQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 3,268,921 shares; 2024Q4: 3,239,073 shares; 2025Q1: 3,239,073 shares; 2025Q2: 3,239,073 shares; 2025Q3: 3,239,073 shares 3,239,073$8.84M0.86%0Timeline
CZRCAESARS ENTERTAINMENT INC NEQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 320,000 shares; 2024Q4: 320,000 shares; 2025Q1: 320,000 shares; 2025Q2: 320,000 shares; 2025Q3: 320,000 shares 320,000$8.65M0.84%0Timeline
CNCCENTENE CORP DELQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: not reported; 2024Q4: not reported; 2025Q1: not reported; 2025Q2: not reported; 2025Q3: 208,500 shares 208,500$7.44M0.72%newTimeline
GOCOGOHEALTH INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: not reported; 2024Q4: not reported; 2025Q1: not reported; 2025Q2: not reported; 2025Q3: 924,244 shares 924,244$4.45M0.43%newTimeline
CBLCBL & ASSOC PPTYS INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 117,613 shares; 2024Q4: 117,613 shares; 2025Q1: 117,613 shares; 2025Q2: 117,613 shares; 2025Q3: 117,613 shares 117,613$3.6M0.35%0Timeline
EHTHEHEALTH INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 175,405 shares; 2024Q4: 467,395 shares; 2025Q1: 467,395 shares; 2025Q2: 467,395 shares; 2025Q3: 467,395 shares 467,395$2.01M0.2%0Timeline
APEIAMERICAN PUB ED INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 1,260,979 shares; 2024Q4: 1,260,979 shares; 2025Q1: 1,127,255 shares; 2025Q2: 705,379 shares; 2025Q3: 10,000 shares 10,000$395K0.04%-695,379Timeline

Principal amounts

Notes and convertibles filed as a face amount (PRN). A face amount is never added to a share count (H6).

SecurityTypeAmountValueChange
ECHOSTAR CORPECHOSTAR CORP NOTE 3.875%11/3principal53,950,906$133M0

How Q3 2025 was built

Available 13F filings of this filer for the quarter and their roles: the base report is the latest original or restatement, NEW HOLDINGS amendments filed after it are added (method).

FilingRoleAmendmentFiledAcceptedIngested
13F-HR 0000919574-25-006883 base2025-11-14acceptance time not in the bulk data set