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BGC

Birch Grove Capital Portfolio holdings

AUM $9.51M
1-Year Est. Return 0.22%
This Fund
S&P 500
This Quarter Est. Return
+1.17%
1 Year Est. Return
+0.22%
3 Year Est. Return
-2.66%
5 Year Est. Return
+14%
10 Year Est. Return
–
AUM
$190M
AUM Growth
+$69.2M
Cap. Flow
-$82.1M
Cap. Flow %
-43.21%
Top 10 Hldgs %
86.99%
Holding
38
New
4
Increased
2
Reduced
2
Closed
13

Top Buys

Rank Stock Value
1
ARCC icon
Ares Capital
ARCC
+$1.63M
2
EACQW
Easterly Acquisition Corp.
EACQW
+$138K
3
GPIAW
GP Investments Acquisition Corp
GPIAW
+$131K

Top Sells

Rank Stock Value
1
NXRT
NexPoint Residential Trust
NXRT
+$1.44M
2
CALY
Callaway Golf Company
CALY
+$1.04M
3
HIL
Hill International, Inc. Common Stock
HIL
+$558K

Sector Composition

Rank Sector Weight
1 Miscellaneous 94.65%
2 Financials 3.76%
3 Real Estate 0.95%
4 Industrials 0.65%
5 Consumer Discretionary 0%
Name Market Value Portfolio Weight Shares or Principal Change
in Stake 		Capital Flow
ELECU
1
DELISTED
Electrum Special Acquisition Corporation
ELECU
$9.7M 5.1%
967,110
– –
AAPC
2
DELISTED
Atlantic Alliance Partnership Corp
AAPC
$5.01M 2.64%
482,200
– –
ARCC icon
3
Ares Capital
ARCC
$14.3B
$2.13M 1.12%
150,000
+110,000
+275% +$1.63M
NXRT
4
NexPoint Residential Trust
NXRT
$600M
$1.8M 0.95%
98,849
-97,790
-50% -$1.44M
HIL
5
DELISTED
Hill International, Inc. Common Stock
HIL
$1.23M 0.65%
302,702
-136,386
-31% -$558K
HCACW
6
DELISTED
Hennessy Capital Acquisition Corp. II
HCACW
$257K 0.14%
408,510
– –
AMAG
7
PUT
DELISTED
AMAG Pharmaceuticals
AMAG
$228K 0.12%
+207,000
New +$4.75M
EACQW
8
DELISTED
Easterly Acquisition Corp.
EACQW
$222K 0.12%
+370,000
New +$138K
SFL icon
9
PUT
SFL Corp
SFL
$1.64B
$195K 0.1%
870,000
+200,000
+30% +$2.98M
GPIAW
10
DELISTED
GP Investments Acquisition Corp
GPIAW
$140K 0.07%
+206,110
New +$131K
BHC icon
11
CALL
Bausch Health
BHC
$2.36B
$110K 0.06%
20,000
– –
GILD icon
12
CALL
Gilead Sciences
GILD
$185B
$72K 0.04%
30,000
– –
BKD icon
13
CALL
Brookdale Senior Living
BKD
$2.89B
$24K 0.01%
57,400
– –
ELECW
14
DELISTED
Electrum Special Acquisition Corporation
ELECW
$24K 0.01%
48,303
– –
AAP icon
15
CALL
Advance Auto Parts
AAP
$2.63B
– –
-30,000
Closed -$468K
AIG icon
16
CALL
American International
AIG
$40.1B
– –
-300,000
Closed -$11K
DE icon
17
PUT
Deere & Co
DE
$168B
– –
-85,000
Closed -$57K
FAST icon
18
PUT
Fastenal
FAST
$58.7B
– –
-920,000
Closed -$63K
HP icon
19
CALL
Helmerich & Payne
HP
$4.24B
– –
-78,500
Closed -$447K
CALY
20
Callaway Golf Company
CALY
$2.76B
– –
-113,880
Closed -$1.04M
RRC icon
21
PUT
Range Resources
RRC
$9.73B
– –
-250,000
Closed -$238K
TAP.A icon
22
CALL
Molson Coors Class A
TAP.A
– –
-46,800
Closed -$410K
GAP
23
PUT
The Gap Inc
GAP
$7.48B
– –
-100,000
Closed -$46K
RAD
24
CALL
DELISTED
Rite Aid Corporation
RAD
– –
-4,460
Closed -$17K
HCR
25
CALL
DELISTED
Hi-Crush Inc. Common Stock
HCR
– –
-139,000
Closed -$44K
1
2

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ACM
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DA
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RJTCONH
Raymond James Trust Company of New Hampshire Portsmouth, New Hampshire $12.1M AUM 28.84% 1-Year Est. Return
RVM
RiverVest Venture Management St. Louis, Missouri $6.84M AUM 7.71% 1-Year Est. Return
HSC
Harbor Spring Capital New York $12.3M AUM
JDR
Jay D. Rosenbaum $6.69M AUM 4.68% 1-Year Est. Return
KIM
Kaizen Investment Management Singapore $6.23M AUM
AG
Arctis Global San Juan, Puerto Rico $14.5M AUM 58.16% 1-Year Est. Return

Birch Grove Capital's Q2 2016 Portfolio in Review

As of Q2 2016, Birch Grove Capital held 38 positions worth $190M, up 57% from $121M the previous quarter. Its ten largest holdings account for 87% of the portfolio.

Birch Grove Capital withdrew a net $82.1M in Q2 2016, closing 13 positions and reducing 2 holdings. Its most notable exit was Callaway Golf Company, an estimated $1.04M position sold in full.

By sector, the portfolio is most concentrated in Miscellaneous at 95% of assets, up from 91% a quarter earlier, followed by Financials and Real Estate.

Against the trend, Birch Grove Capital opened a new position in Easterly Acquisition Corp. worth $222K.

  • Birch Grove Capital's largest Q2 2016 buy was Easterly Acquisition Corp.: 370,000 shares worth $222K.
  • Birch Grove Capital added most to Ares Capital in Q2 2016, an estimated $1.63M increase.
  • Birch Grove Capital's biggest Q2 2016 reduction was NexPoint Residential Trust, cutting an estimated $1.44M.
  • Birch Grove Capital fully exited Callaway Golf Company in Q2 2016, selling an estimated $1.04M.
  • Birch Grove Capital's ten largest holdings make up 87% of its $190M portfolio in Q2 2016.
  • Birch Grove Capital opened 4 new positions and closed 13 in Q2 2016.
  • Birch Grove Capital's portfolio value rose 57% quarter-over-quarter to $190M.

Based on Birch Grove Capital's 13F filing for Q2 2016, filed 15 Aug 2016.