GOLDENTREE ASSET MANAGEMENT LP

Hedge Fund • Distressed

GOLDENTREE ASSET MANAGEMENT LP is a Distressed Hedge Fund based in New York, NY led by Kathryn Layne Sutherland, reporting $63.4B in AUM as of Q3 2025 with 38% Healthcare concentration, 78% concentrated in top 10 holdings, and 19% allocation to BHC.

CEOKathryn Layne Sutherland

Portfolio Value: $1.2B
Positions: 23
Top Holding: BHC at 18.77%
Last Reported: Q3 2025

Address300 Park Avenue, New York, NY, 10022, United States

Top Holdings

Largest long holdings in GOLDENTREE ASSET MANAGEMENT LP's portfolio (77.8% of total portfolio)

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Holding	Sector	Position	Weight	Traded	Ownership	Owned Since
1 Bausch Health Companies BHC	Drug Manufacturers - Specialty & Generic Healthcare	$224.4M	18.77%	+$3.7M Bought	9.42% 34.8M shares	Q1 2018 Held for 7y 8m
2 Jazz Pharmaceuticals JAZZ	Biotechnology Healthcare	$149.6M	12.51%	+$149.6M New	1.87% 1.1M shares	Q3 2025 Held for 2 months
3 MGM Resorts International MGM	Gambling, Resorts & Casinos Consumer Cyclical	$144.0M	12.04%	-$43.2M Sold	1.53% 4.2M shares	Q1 2024 Held for 1y 8m
4 Norwegian Cruise Line Holdings Ltd. NCLH	Travel Services Consumer Cyclical	$81.5M	6.81%	-$16.8M Sold	0.73% 3.3M shares	Q4 2024 Held for 11 months
5 United Parks & Resorts PRKS	Leisure Consumer Cyclical	$68.6M	5.73%	+$5.7M Bought	2.41% 1.3M shares	Q2 2022 Held for 3y 5m
6 Victoria's Secret VSCO	Apparel - Retail Consumer Cyclical	$66.3M	5.55%	-$14.6M Sold	3.05% 2.4M shares	Q1 2025 Held for 8 months
7 Comcast CMCSA	Telecommunications Services Communication Services	$63.8M	5.34%	+$63.8M Bought	0.06% 2.0M shares	Q3 2025 Held for 2 months
8 Gulfport Energy GPOR	Oil & Gas Exploration & Production Energy	$44.7M	3.74%	+$44.7M New	1.41% 246.8K shares	Q3 2025 Held for 2 months
9 Symmetry Medical SMA	Unknown Unknown	$44.4M	3.71%	+$8.7M Bought	2.13% 1.2M shares	Q2 2025 Held for 5 months
10 Indivior INDV	Drug Manufacturers - Specialty & Generic Healthcare	$42.6M	3.57%	+$42.6M New	1.42% 1.8M shares	Q3 2025 Held for 2 months

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Changes

Portfolio activity, position movements, and quarter-over-quarter changes in GOLDENTREE ASSET MANAGEMENT LP's latest filing

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Market Value

$1.2B

Prior: $1.0B

Q/Q Change

+17.63%

+$179.3M

Net Flows % of MV

-1.16%

Turnover Ratio

32.71%

New Purchases

6 stocks

$291.6M

Added To

6 stocks

+$21.7M

Sold Out Of

10 stocks

$217.9M

Reduced Holdings

7 stocks

-$109.5M

Increased Positions

Position	Shares Δ	Change
1 Jazz Pharmaceuticals JAZZ	New	0 → 1.1M +$149.6M
2 Gulfport Energy GPOR	New	0 → 246.8K +$44.7M
3 Indivior INDV	New	0 → 1.8M +$42.6M
4 Salesforce CRM	New	0 → 168.2K +$39.8M
5 Cable One CABO	New	0 → 74.0K +$13.0M

Decreased Positions

Position	Shares Δ	Change
1 XLV Health Care Select Sector SPDR Fund XLV	Sold	350.0K → 0 −$47.1M
2 Tidewater TDW	Sold	731.3K → 0 −$33.7M
3 Boyd Gaming BYD	Sold	403.8K → 0 −$31.6M
4 Tenet Healthcare THC	Sold	179.2K → 0 −$31.5M
5 Warner Bros. Discovery, Inc. WBD	Sold	2.3M → 0 −$26.7M