REDWOOD CAPITAL MANAGEMENT, LLC Diversified Active

Location: New York, NY

CIK: 0001316622 · Show all filings

Period: Q1 2026 (← Previous)

Filing Date: May 15, 2026

Total Value: $674M (87.5% shares, 12.5% debt)

Holdings (22)

New Positions (5)

VISN VISTANCE NETWORKS INC 3.7%

Value $24.91M Shares 1,368,663 Est. Cost $18.49 Unrealized 0.0%

MBC MASTERBRAND INC 1.6%

Value $10.69M Shares 1,286,097 Est. Cost $12.15 Unrealized 0.0%

AERO GRUPO AEROMEXICO SAB DE CV 1.1%

Value $7.728M Shares 551,601 Est. Cost $14.01 Unrealized —

AMWD AMERICAN WOODMARK CORP 0.4%

Value $2.884M Shares 72,402 Est. Cost $59.97 Unrealized 0.0%

KLC KINDERCARE LEARNING COMPANIE 0.4%

Value $2.75M Shares 1,250,000 Est. Cost $4.40 Unrealized 0.0%

Ticker	Issuer	Shares	Value	%	Est. Cost	Unrealized	Class	CUSIP
VISN	VISTANCE NETWORKS INC	1,368,663	$24.91M	3.7%	$18.49	0.0%	COM	20337X109
MBC	MASTERBRAND INC	1,286,097	$10.69M	1.6%	$12.15	0.0%	COMMON STOCK	57638P104
AERO	GRUPO AEROMEXICO SAB DE CV	551,601	$7.728M	1.1%	$14.01	—	SPONSORED ADS	40054J109
AMWD	AMERICAN WOODMARK CORP	72,402	$2.884M	0.4%	$59.97	0.0%	COM	030506109
KLC	KINDERCARE LEARNING COMPANIE	1,250,000	$2.75M	0.4%	$4.40	0.0%	COM	49456W105

Increased Positions (3)

GBTG GLOBAL BUSINESS TRAVEL GROUP 18.2%

Value $123M (-25.4%) Shares 21,953,816 (+2.3%) Est. Cost $7.39 Unrealized -10.7%

MOH MOLINA HEALTHCARE INC 6.1%

Value $41.32M (+116.5%) Shares 310,000 (+181.8%) Est. Cost $170.84 Unrealized -1.3%

TDS TELEPHONE & DATA SYS INC 8.0%

Value $53.69M (+49.4%) Shares 1,275,282 (+45.5%) Est. Cost $38.41 Unrealized +15.5%

Ticker	Issuer	Shares	Value	%	Est. Cost	Unrealized	Class	CUSIP
GBTG	GLOBAL BUSINESS TRAVEL GROUP	21,953,816 (+2.3%)	$123M (-25.4%)	18.2%	$7.39	-10.7%	COM CL A	37890B100
MOH	MOLINA HEALTHCARE INC	310,000 (+181.8%)	$41.32M (+116.5%)	6.1%	$170.84	-1.3%	COM	60855R100
TDS	TELEPHONE & DATA SYS INC	1,275,282 (+45.5%)	$53.69M (+49.4%)	8.0%	$38.41	+15.5%	COM NEW	879433829

Decreased Positions (3)

AER AERCAP HOLDINGS NV 8.2%

Value $55.46M (-70.4%) Shares 404,266 (-69.0%) Est. Cost $52.12 Unrealized +179.7%

— ECHOSTAR CORP 12.5%

Value $84.34M (-53.3%) Shares 23,045,906 (-57.3%) Est. Cost $1.05 Unrealized —

SATS ECHOSTAR CORP 27.5%

Value $186M (-24.7%) Shares 1,584,857 (-30.1%) Est. Cost $17.31 Unrealized +572.3%

Ticker	Issuer	Shares	Value	%	Est. Cost	Unrealized	Class	CUSIP
AER	AERCAP HOLDINGS NV	404,266 (-69.0%)	$55.46M (-70.4%)	8.2%	$52.12	+179.7%	SHS	N00985106
—	ECHOSTAR CORP	23,045,906 (-57.3%)	$84.34M (-53.3%)	12.5%	$1.05	—	NOTE 3.875%11/3	278768AB2
SATS	ECHOSTAR CORP	1,584,857 (-30.1%)	$186M (-24.7%)	27.5%	$17.31	+572.3%	CL A	278768106

Unchanged Positions (11)

ELV ELEVANCE HEALTH INC FORMERLY 3.7%

Value $24.83M Shares 84,800 Est. Cost $319.02 Unrealized +10.2%

MSC STUDIO CITY INTL HLDGS LTD 1.2%

Value $7.871M Shares 3,239,073 Est. Cost $11.27 Unrealized —

OPTU OPTIMUM COMMUNICATIONS INC 1.6%

Value $10.65M Shares 8,189,270 Est. Cost $7.28 Unrealized -77.0%

MERC MERCER INTL INC 1.0%

Value $6.6M Shares 4,648,133 Est. Cost $5.35 Unrealized -59.9%

CNC CENTENE CORP DEL 1.0%

Value $6.826M Shares 208,500 Est. Cost $30.20 Unrealized +43.5%

UNH UNITEDHEALTH GROUP INC 1.1%

Value $7.441M Shares 27,500 Est. Cost $298.94 Unrealized +3.3%

EHTH EHEALTH INC 0.1%

Value $603K Shares 467,395 Est. Cost $5.09 Unrealized -44.4%

CZR CAESARS ENTERTAINMENT INC NE 1.6%

Value $11.1M Shares 420,000 Est. Cost $36.95 Unrealized -40.4%

GOCO GOHEALTH INC 0.2%

Value $1.396M Shares 924,244 Est. Cost $5.46 Unrealized -62.0%

APEI AMERICAN PUB ED INC 0.1%

Value $569K Shares 10,000 Est. Cost $27.89 Unrealized +51.1%

CBL CBL & ASSOC PPTYS INC 0.7%

Value $4.52M Shares 117,613 Est. Cost $31.62 Unrealized —

Ticker	Issuer	Shares	Value	%	Est. Cost	Unrealized	Class	CUSIP
ELV	ELEVANCE HEALTH INC FORMERLY	84,800	$24.83M	3.7%	$319.02	+10.2%	COM	036752103
MSC	STUDIO CITY INTL HLDGS LTD	3,239,073	$7.871M	1.2%	$11.27	—	SPON ADS	86389T106
OPTU	OPTIMUM COMMUNICATIONS INC	8,189,270	$10.65M	1.6%	$7.28	-77.0%	CL A	02156K103
MERC	MERCER INTL INC	4,648,133	$6.6M	1.0%	$5.35	-59.9%	COM	588056101
CNC	CENTENE CORP DEL	208,500	$6.826M	1.0%	$30.20	+43.5%	COM	15135B101
UNH	UNITEDHEALTH GROUP INC	27,500	$7.441M	1.1%	$298.94	+3.3%	COM	91324P102
EHTH	EHEALTH INC	467,395	$603K	0.1%	$5.09	-44.4%	COM	28238P109
CZR	CAESARS ENTERTAINMENT INC NE	420,000	$11.1M	1.6%	$36.95	-40.4%	COM	12769G100
GOCO	GOHEALTH INC	924,244	$1.396M	0.2%	$5.46	-62.0%	CL A NEW	38046W204
APEI	AMERICAN PUB ED INC	10,000	$569K	0.1%	$27.89	+51.1%	COM	02913V103
CBL	CBL & ASSOC PPTYS INC	117,613	$4.52M	0.7%	$31.62	—	COMMON STOCK	124830878