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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
+1.74%
1 Year Est. Return
+0.22%
3 Year Est. Return
-2.66%
5 Year Est. Return
+14%
10 Year Est. Return
–
AUM
$252M
AUM Growth
+$44.3M
(+21%)
Cap. Flow
-$184M
Cap. Flow
% of AUM
-72.92%
Top 10 Holdings %
Top 10 Hldgs %
74.77%
Holding
33
New
8
Increased
1
Reduced
2
Closed
5
Avg Time Held Equity + Options
2.3
quarters
Top 10 Avg Time Held Equity + Options
2.6
quarters
Top 20 Avg Time Held Equity + Options
2.8
quarters
Avg Time Held Equity only
2.9
quarters
Top 10 Avg Time Held Equity only
2.6
quarters
Top 20 Avg Time Held Equity only
2.9
quarters
Top Buys
| Rank | Stock | Value |
|---|---|---|
| 1 |
Independence Contract Drilling, Inc.
ICD
|
+$17.6M |
| 2 |
Churchill Capital Corp
CCC.U
|
+$3.03M |
Top Sells
No sells this quarter
Sector Composition
| Rank | Sector | Weight |
|---|---|---|
| 1 | Miscellaneous | 90.68% |
| 2 | Energy | 8.35% |
| 3 | Consumer Discretionary | 0.97% |
| Name | Market Value | Portfolio Weight | Shares or Principal |
Change in Stake | Capital Flow | Held Since | |
|---|---|---|---|---|---|---|---|
|
1
DELISTED
Independence Contract Drilling, Inc.
ICD
| $21M | 8.35% |
+212,633
| New | +$17.6M |
2018 Q3
0 quarters
|
|
|
2
DELISTED
Churchill Capital Corp
CCC.U
| $3.04M | 1.21% |
+300,000
| New | +$3.03M |
2018 Q3
0 quarters
|
|
|
JAX
3
DELISTED
J. Alexander's Holdings, Inc.
JAX
| $2.45M | 0.97% |
205,650
| – | – |
2017 Q1
6 quarters
|
|
4
PUT
State Street SPDR S&P 500 ETF Trust
SPY
$821B
| $554K | 0.22% |
+450,000
| New | +$128M |
2018 Q3
0 quarters
|
|
|
CLVS
5
PUT
DELISTED
Clovis Oncology, Inc.
CLVS
| $113K | 0.04% |
+28,000
| New | +$1.08M |
2018 Q3
0 quarters
|
|
6
CALL
Dollar Tree
DLTR
$22B
| $95K | 0.04% |
+200,000
| New | +$17.6M |
2018 Q3
0 quarters
|
|
7
PUT
Golar LNG
GLNG
$4.95B
| $58K | 0.02% |
50,000
-20,000
| -29% | -$530K |
2017 Q2
5 quarters
|
|
8
CALL
NN Inc
NNBR
$371M
| $43K | 0.02% |
+275,000
| New | +$5.15M |
2018 Q3
0 quarters
|
|
9
CALL
Uniti Group
UNIT
$1.66B
| $41K | 0.02% |
181,800
-300,000
| -62% | -$5.94M |
2018 Q1
2 quarters
|
|
10
PUT
Knowles
KN
$3.13B
| $32K | 0.01% |
+80,000
| New | +$1.35M |
2018 Q3
0 quarters
|
|
11
PUT
DELISTED
CalAmp Corp.
CAMP
| $2K | ﹤0.01% |
3,261
+2,391
| +275% | +$1.28M |
2018 Q2
1 quarter
|
|
|
NUAN
12
PUT
DELISTED
Nuance Communications, Inc.
NUAN
| $2K | ﹤0.01% |
+40,425
| New | +$560K |
2018 Q3
0 quarters
|
|
13
CALL
Conagra Brands
CAG
$6.52B
| – | – |
-500,000
| Closed | -$29K | – |
|
14
CALL
CVS Health
CVS
$111B
| – | – |
-52,500
| Closed | -$117K | – |
|
|
15
PUT
NN Inc
NNBR
$371M
| – | – |
-350,000
| Closed | -$571K | – |
|
16
CALL
AT&T
T
$154B
| – | – |
-236,996
| Closed | -$20K | – |
|
|
PF
17
CALL
DELISTED
Pinnacle Foods, Inc.
PF
| – | – |
-400,000
| Closed | -$20K | – |
|
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Birch Grove Capital's Q3 2018 Portfolio in Review
As of Q3 2018, Birch Grove Capital held 33 positions worth $252M, up 21% from $207M the previous quarter. Its ten largest holdings account for 75% of the portfolio.
Birch Grove Capital withdrew a net $184M in Q3 2018, closing 5 positions and reducing 2 holdings.
By sector, the portfolio is most concentrated in Miscellaneous at 91% of assets, down from 99% a quarter earlier, followed by Energy and Consumer Discretionary.
Against the trend, Birch Grove Capital opened a new position in Independence Contract Drilling, Inc. worth $21M.
- Birch Grove Capital's largest Q3 2018 buy was Independence Contract Drilling, Inc.: 212,633 shares worth $21M.
- Birch Grove Capital's ten largest holdings make up 75% of its $252M portfolio in Q3 2018.
- Birch Grove Capital opened 8 new positions and closed 5 in Q3 2018.
- Birch Grove Capital's portfolio value rose 21% quarter-over-quarter to $252M.
Based on Birch Grove Capital's 13F filing for Q3 2018, filed 14 Nov 2018.