REDWOOD CAPITAL MANAGEMENT, LLC

CIK 0001316622 · Q2 2026

13F Equity AUM

$927.4M

+37.6% QoQ

Positions

+3 QoQ

AUM Rank

#3,527

Top 28%

Skill Alpha (FF)

+4.6%/yr^ns

No Clear Edge

Rank #785 · Top 9%

vs S&P +5.9%/yr (unadj.)

Quarters Tracked

~13 years

Portfolio Concentration

Top 5: 65.2%Top 10: 87.3%Top 20: 98.3%

VSAT21.3%

SATS13.9%

GBTG11.1%

MBC10.9%

OFFICE PPTYS INCOME TR7.9%

AER6.3%

TDS5.1%

MOH4.9%

ELV3.5%

K6B2.1%

Others (15)12.7%

HHI (Herfindahl-Hirschman Index) measures portfolio concentration. Low (<1500) = diversified, Moderate (1500-2500), High (>2500) = concentrated bets.

Sector Allocation

Technology47.0%

Consumer Cyclical13.5%

Industrials11.7%

Healthcare11.1%

Unclassified8.7%

Communication Services5.9%

Other2.1%

Portfolio weight by GICS sector based on latest 13F filing. Sectors below 2% are grouped as “Other.”

Position Sizing

Positions: 25Median: 1.37%Avg: 4.00%

0–0.5%

3(0.5%)

0.5–1%

7(5.1%)

1–3%

6(9.3%)

3–5%

2(8.5%)

5%+

7(76.7%)

Count of positions per weight bucket — (%) = combined portfolio weight

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Portfolio Overlap

Shared: 0Unique: 25vs 20 funds

0%Low

Fund positions

Consensus CUSIPs

Jaccard similarity of this fund’s portfolio vs the consensus of top 20 funds by AUM. Low (<15%) = contrarian, Moderate (15-40%), High (>40%) = follows the crowd.

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Position Changes This Quarter

New7Increased2Decreased5Exited4

New Positions

VSAT21.3%

+2.2M

OFFICE PPTYS INCOME …7.9%

+4.3M

K6B2.1%

+575K

FBIN2.0%

+332K

SOC1.0%

+3.0M

AZUL S A0.8%

+817K

NCLH0.6%

+260K

Increased

MBC10.9%

+8.5M(+664%)

AERO1.1%

+32K(+6%)

Decreased

SATS 3.875 11/30/300.6%

-21,130,000(-92%)

GBTG11.1%

-10,955,174(-50%)

OPTU0.8%

-3,000,000(-37%)

SATS13.9%

-314,778(-20%)

MOH4.9%

-110,000(-35%)

Exited

-1,368,663

-72,402

-1,250,000

-924,244

Quarter-over-quarter changes compared to prior 13F filing. New = first appearance; Exited = no longer held.

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Holdings

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