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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
+0.19%
1 Year Est. Return
+0.22%
3 Year Est. Return
-2.66%
5 Year Est. Return
+14%
10 Year Est. Return
–
AUM
$191M
AUM Growth
+$27.4M
(+17%)
Cap. Flow
-$129M
Cap. Flow
% of AUM
-67.41%
Top 10 Holdings %
Top 10 Hldgs %
79.69%
Holding
35
New
7
Increased
3
Reduced
2
Closed
7
Avg Time Held Equity + Options
2
quarters
Top 10 Avg Time Held Equity + Options
2.2
quarters
Top 20 Avg Time Held Equity + Options
2.3
quarters
Avg Time Held Equity only
2.7
quarters
Top 10 Avg Time Held Equity only
2.2
quarters
Top 20 Avg Time Held Equity only
2.7
quarters
Top Buys
| Rank | Stock | Value |
|---|---|---|
| 1 |
JAX
J. Alexander's Holdings, Inc.
JAX
|
+$945K |
Top Sells
| Rank | Stock | Value |
|---|---|---|
| 1 |
Surgery Partners
SGRY
|
+$806K |
| 2 |
HABT
The Habit Restaurants, Inc. - Class A
HABT
|
+$430K |
| 3 |
GPIAW
GP Investments Acquisition Corp
GPIAW
|
+$187K |
| 4 |
GDP
Goodrich Petroleum Corporation Common Stock
GDP
|
+$9K |
Sector Composition
| Rank | Sector | Weight |
|---|---|---|
| 1 | Miscellaneous | 98.77% |
| 2 | Consumer Discretionary | 1.23% |
| 3 | Energy | 0% |
| 4 | Healthcare | 0% |
| Name | Market Value | Portfolio Weight | Shares or Principal |
Change in Stake | Capital Flow | Held Since | |
|---|---|---|---|---|---|---|---|
|
JAX
1
DELISTED
J. Alexander's Holdings, Inc.
JAX
| $2.35M | 1.23% |
205,650
+93,401
| +83% | +$945K |
2017 Q1
4 quarters
|
|
2
PUT
iShares Russell 2000 ETF
IWM
$77.9B
| $400K | 0.21% |
+200,000
| New | +$30.9M |
2018 Q1
0 quarters
|
|
|
ELECW
3
DELISTED
Electrum Special Acquisition Corporation
ELECW
| $288K | 0.15% |
450,608
| – | – |
2016 Q1
8 quarters
|
|
|
WMGI
4
PUT
DELISTED
Wright Medical Group Inc
WMGI
| $156K | 0.08% |
91,500
-23,500
| -20% | -$504K |
2017 Q2
3 quarters
|
|
|
DISH
5
PUT
DELISTED
DISH Network Corp.
DISH
| $152K | 0.08% |
+38,000
| New | +$1.67M |
2018 Q1
0 quarters
|
|
6
PUT
Knowles
KN
$3.12B
| $136K | 0.07% |
+175,000
| New | +$2.55M |
2018 Q1
0 quarters
|
|
7
CALL
Charter Communications
CHTR
$12.2B
| $96K | 0.05% |
+15,000
| New | +$5.27M |
2018 Q1
0 quarters
|
|
|
CATM
8
PUT
DELISTED
Cardtronics plc Class A Ordinary Shares (UK)
CATM
| $84K | 0.04% |
55,000
+5,000
| +10% | +$119K |
2017 Q3
2 quarters
|
|
|
NUAN
9
PUT
DELISTED
Nuance Communications, Inc.
NUAN
| $78K | 0.04% |
179,025
+121,275
| +210% | +$1.77M |
2017 Q3
2 quarters
|
|
10
PUT
Golar LNG
GLNG
$4.9B
| $57K | 0.03% |
40,000
-96,000
| -71% | -$2.71M |
2017 Q2
3 quarters
|
|
|
MDRX
11
PUT
DELISTED
Veradigm Inc. Common Stock
MDRX
| $44K | 0.02% |
+37,500
| New | +$533K |
2018 Q1
0 quarters
|
|
12
CALL
Uniti Group
UNIT
$1.61B
| $38K | 0.02% |
+300,000
| New | +$4.82M |
2018 Q1
0 quarters
|
|
13
CALL
Dauch Corp
DCH
$1.31B
| $11K | 0.01% |
+440,000
| New | +$7.23M |
2018 Q1
0 quarters
|
|
14
CALL
Bausch Health
BHC
$2.2B
| – | – |
-20,000
| Closed | -$1K | – |
|
|
15
Surgery Partners
SGRY
$1.9B
| – | – |
-66,605
| Closed | -$806K | – |
|
|
GDP
16
DELISTED
Goodrich Petroleum Corporation Common Stock
GDP
| – | – |
-836
| Closed | -$9K | – |
|
|
HABT
17
DELISTED
The Habit Restaurants, Inc. - Class A
HABT
| – | – |
-45,000
| Closed | -$430K | – |
|
|
SFLY
18
CALL
DELISTED
Shutterfly, Inc.
SFLY
| – | – |
-200,000
| Closed | -$603K | – |
|
|
WIN
19
CALL
DELISTED
Windstream Holdings Inc
WIN
| – | – |
-60,000
| Closed | -$41K | – |
|
|
GPIAW
20
DELISTED
GP Investments Acquisition Corp
GPIAW
| – | – |
-478,350
| Closed | -$187K | – |
|
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Birch Grove Capital's Q1 2018 Portfolio in Review
As of Q1 2018, Birch Grove Capital held 35 positions worth $191M, up 17% from $164M the previous quarter. Its ten largest holdings account for 80% of the portfolio.
Birch Grove Capital withdrew a net $129M in Q1 2018, closing 7 positions and reducing 2 holdings. Its most notable exit was Surgery Partners, an estimated $806K position sold in full.
By sector, the portfolio is most concentrated in Miscellaneous at 99% of assets, up from 99% a quarter earlier, followed by Consumer Discretionary and Energy.
Against the trend, Birch Grove Capital added an estimated $945K to J. Alexander's Holdings, Inc..
- Birch Grove Capital added most to J. Alexander's Holdings, Inc. in Q1 2018, an estimated $945K increase.
- Birch Grove Capital fully exited Surgery Partners in Q1 2018, selling an estimated $806K.
- Birch Grove Capital's ten largest holdings make up 80% of its $191M portfolio in Q1 2018.
- Birch Grove Capital opened 7 new positions and closed 7 in Q1 2018.
- Birch Grove Capital's portfolio value rose 17% quarter-over-quarter to $191M.
Based on Birch Grove Capital's 13F filing for Q1 2018, filed 15 May 2018.