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REDWOOD CAPITAL MANAGEMENT, LLC

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13F filer, CIK 1316622, New York, NY

REDWOOD CAPITAL MANAGEMENT, LLC reported $934,196,020 across 17 holdings for the quarter ended 2025-12-31, in a 13F-HR filed 2026-02-17. Its ten largest share positions make up 96.18% of the portfolio.

Filed (acceptance time not in the bulk data set), ingested 13F-HR 0000919574-26-001171

Period
2025-12-31
Reported value
$934M
Holdings
17
Top 10 weight
96.18%
New
0
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
ELVadded+32,300$11.3M
MOHadded+51,600$8.95M
CZRadded+100,000$2.34M
GBTGadded+1$7

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-3,332,012-$362M

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, Q4 2025

Share positions as resolved from 13F-HR 0000919574-26-001171, largest first. % of portfolio is the value over $934,196,020, 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; 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; 2025Q4: 2,267,787 shares 2,267,787$247M26.39%-3,332,012Timeline
AERAERCAP HOLDINGS NVQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 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; 2025Q4: 1,304,863 shares 1,304,863$188M20.08%0Timeline
GBTGGLOBAL BUSINESS TRAVEL GROUPQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: not reported; 2024Q4: not reported; 2025Q1: not reported; 2025Q2: not reported; 2025Q3: 21,453,815 shares; 2025Q4: 21,453,816 shares 21,453,816$164M17.57%+1Timeline
TDSTELEPHONE & DATA SYS INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: not reported; 2024Q4: not reported; 2025Q1: 570,213 shares; 2025Q2: 870,213 shares; 2025Q3: 876,580 shares; 2025Q4: 876,580 shares 876,580$35.9M3.85%0Timeline
ELVELEVANCE HEALTH INC FORMERLYQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: not reported; 2024Q4: not reported; 2025Q1: not reported; 2025Q2: not reported; 2025Q3: 52,500 shares; 2025Q4: 84,800 shares 84,800$29.7M3.18%+32,300Timeline
MOHMOLINA HEALTHCARE INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: not reported; 2024Q4: not reported; 2025Q1: not reported; 2025Q2: not reported; 2025Q3: 58,400 shares; 2025Q4: 110,000 shares 110,000$19.1M2.04%+51,600Timeline
OPTUOPTIMUM COMMUNICATIONS INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 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; 2025Q4: 8,189,270 shares 8,189,270$13.5M1.45%0Timeline
MSCSTUDIO CITY INTL HLDGS LTDQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 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; 2025Q4: 3,239,073 shares 3,239,073$11.5M1.23%0Timeline
CZRCAESARS ENTERTAINMENT INC NEQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 320,000 shares; 2024Q4: 320,000 shares; 2025Q1: 320,000 shares; 2025Q2: 320,000 shares; 2025Q3: 320,000 shares; 2025Q4: 420,000 shares 420,000$9.82M1.05%+100,000Timeline
MERCMERCER INTL INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 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; 2025Q4: 4,648,133 shares 4,648,133$9.2M0.99%0Timeline
UNHUNITEDHEALTH GROUP INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: not reported; 2024Q4: not reported; 2025Q1: not reported; 2025Q2: not reported; 2025Q3: 27,500 shares; 2025Q4: 27,500 shares 27,500$9.08M0.97%0Timeline
CNCCENTENE CORP DELQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: not reported; 2024Q4: not reported; 2025Q1: not reported; 2025Q2: not reported; 2025Q3: 208,500 shares; 2025Q4: 208,500 shares 208,500$8.58M0.92%0Timeline
CBLCBL & ASSOC PPTYS INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 117,613 shares; 2024Q4: 117,613 shares; 2025Q1: 117,613 shares; 2025Q2: 117,613 shares; 2025Q3: 117,613 shares; 2025Q4: 117,613 shares 117,613$4.35M0.47%0Timeline
EHTHEHEALTH INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 175,405 shares; 2024Q4: 467,395 shares; 2025Q1: 467,395 shares; 2025Q2: 467,395 shares; 2025Q3: 467,395 shares; 2025Q4: 467,395 shares 467,395$2.15M0.23%0Timeline
GOCOGOHEALTH INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: not reported; 2024Q4: not reported; 2025Q1: not reported; 2025Q2: not reported; 2025Q3: 924,244 shares; 2025Q4: 924,244 shares 924,244$1.99M0.21%0Timeline
APEIAMERICAN PUB ED INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 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; 2025Q4: 10,000 shares 10,000$378K0.04%0Timeline

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$181M0

How Q4 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 0000919574-26-001171 base2026-02-17acceptance time not in the bulk data set