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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
+0.08%
1 Year Est. Return
+0.22%
3 Year Est. Return
-2.66%
5 Year Est. Return
+14%
10 Year Est. Return
–
AUM
$107M
AUM Growth
-$83.5M
(-44%)
Cap. Flow
-$96.1M
Cap. Flow
% of AUM
-90.18%
Top 10 Holdings %
Top 10 Hldgs %
99.21%
Holding
21
New
–
Increased
1
Reduced
4
Closed
3
Avg Time Held Equity + Options
1.8
quarters
Top 10 Avg Time Held Equity + Options
0.9
quarters
Top 20 Avg Time Held Equity + Options
1.2
quarters
Avg Time Held Equity only
1.7
quarters
Top 10 Avg Time Held Equity only
0.9
quarters
Top 20 Avg Time Held Equity only
1.7
quarters
Top Buys
| Rank | Stock | Value |
|---|---|---|
| 1 |
ELECW
Electrum Special Acquisition Corporation
ELECW
|
+$107K |
Top Sells
| Rank | Stock | Value |
|---|---|---|
| 1 |
ELECU
Electrum Special Acquisition Corporation
ELECU
|
+$9.7M |
| 2 |
Ares Capital
ARCC
|
+$2.13M |
| 3 |
NexPoint Residential Trust
NXRT
|
+$1.8M |
| 4 |
AAPC
Atlantic Alliance Partnership Corp
AAPC
|
+$1.06M |
| 5 |
HIL
Hill International, Inc. Common Stock
HIL
|
+$480K |
Sector Composition
| Rank | Sector | Weight |
|---|---|---|
| 1 | Miscellaneous | 95.43% |
| 2 | Financials | 3.74% |
| 3 | Industrials | 0.83% |
| 4 | Real Estate | 0% |
| Name | Market Value | Portfolio Weight | Shares or Principal |
Change in Stake | Capital Flow | Held Since | |
|---|---|---|---|---|---|---|---|
|
AAPC
1
DELISTED
Atlantic Alliance Partnership Corp
AAPC
| $3.99M | 3.74% |
379,800
-102,400
| -21% | -$1.06M |
2015 Q4
3 quarters
|
|
|
HIL
2
DELISTED
Hill International, Inc. Common Stock
HIL
| $887K | 0.83% |
192,402
-110,300
| -36% | -$480K |
2015 Q4
3 quarters
|
|
|
ELECW
3
DELISTED
Electrum Special Acquisition Corporation
ELECW
| $260K | 0.24% |
531,858
+483,555
| +1,001% | +$107K |
2016 Q1
2 quarters
|
|
|
EACQW
4
DELISTED
Easterly Acquisition Corp.
EACQW
| $222K | 0.21% |
370,000
| – | – |
2016 Q2
1 quarter
|
|
5
DELISTED
Hennessy Capital Acquisition Corp. II
HCACW
| $163K | 0.15% |
408,510
| – | – |
2016 Q1
2 quarters
|
|
6
CALL
Bausch Health
BHC
$2.21B
| $145K | 0.14% |
20,000
| – | – |
2016 Q1
2 quarters
|
|
|
GPIAW
7
DELISTED
GP Investments Acquisition Corp
GPIAW
| $138K | 0.13% |
206,110
| – | – |
2016 Q2
1 quarter
|
|
|
AMAG
8
PUT
DELISTED
AMAG Pharmaceuticals
AMAG
| $62K | 0.06% |
207,000
| – | – |
2016 Q2
1 quarter
|
|
9
CALL
Gilead Sciences
GILD
$187B
| $55K | 0.05% |
20,000
-10,000
| -33% | -$812K |
2016 Q1
2 quarters
|
|
10
PUT
SFL Corp
SFL
$1.88B
| $40K | 0.04% |
200,000
-670,000
| -77% | -$10M |
2016 Q1
2 quarters
|
|
11
CALL
Brookdale Senior Living
BKD
$2.44B
| $14K | 0.01% |
57,400
| – | – |
2015 Q4
3 quarters
|
|
|
12
Ares Capital
ARCC
$13.4B
| – | – |
-150,000
| Closed | -$2.13M | – |
|
|
13
NexPoint Residential Trust
NXRT
$496M
| – | – |
-98,849
| Closed | -$1.8M | – |
|
|
ELECU
14
DELISTED
Electrum Special Acquisition Corporation
ELECU
| – | – |
-967,110
| Closed | -$9.7M | – |
|
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Birch Grove Capital's Q3 2016 Portfolio in Review
As of Q3 2016, Birch Grove Capital held 21 positions worth $107M, down 44% from $190M the previous quarter. Its ten largest holdings account for 99% of the portfolio.
Birch Grove Capital withdrew a net $96.1M in Q3 2016, closing 3 positions and reducing 4 holdings. Its most notable exit was Electrum Special Acquisition Corporation, an estimated $9.7M position sold in full.
By sector, the portfolio is most concentrated in Miscellaneous at 95% of assets, up from 95% a quarter earlier, followed by Financials and Industrials.
Against the trend, Birch Grove Capital added an estimated $107K to Electrum Special Acquisition Corporation.
- Birch Grove Capital added most to Electrum Special Acquisition Corporation in Q3 2016, an estimated $107K increase.
- Birch Grove Capital's biggest Q3 2016 reduction was Atlantic Alliance Partnership Corp, cutting an estimated $1.06M.
- Birch Grove Capital fully exited Electrum Special Acquisition Corporation in Q3 2016, selling an estimated $9.7M.
- Birch Grove Capital's ten largest holdings make up 99% of its $107M portfolio in Q3 2016.
- Birch Grove Capital opened 0 new positions and closed 3 in Q3 2016.
- Birch Grove Capital's portfolio value fell 44% quarter-over-quarter to $107M.
Based on Birch Grove Capital's 13F filing for Q3 2016, filed 14 Nov 2016.