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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
+2.7%
1 Year Est. Return
+0.22%
3 Year Est. Return
-2.66%
5 Year Est. Return
+14%
10 Year Est. Return
–
AUM
$166M
AUM Growth
-$56.4M
Cap. Flow
-$152M
Cap. Flow %
-91.57%
Top 10 Hldgs %
90.45%
Holding
31
New
7
Increased
2
Reduced
1
Closed
8

Top Buys

Rank Stock Value
1
EVRI
Everi Holdings
EVRI
+$3.48M
2
ECC
Eagle Point Credit Company
ECC
+$109K
3
GDP
Goodrich Petroleum Corporation Common Stock
GDP
+$16.3K

Top Sells

Rank Stock Value
1
CCC.U
Churchill Capital Corp
CCC.U
+$3.04M

Sector Composition

Rank Sector Weight
1 Miscellaneous 88.59%
2 Energy 7.11%
3 Consumer Discretionary 4.31%
Name Market Value Portfolio Weight Shares or Principal Change
in Stake 		Capital Flow
ICD
1
DELISTED
Independence Contract Drilling, Inc.
ICD
$11.8M 7.1%
212,633
– –
EVRI
2
DELISTED
Everi Holdings
EVRI
$5.13M 3.09%
488,007
+458,107
+1,532% +$3.48M
JAX
3
DELISTED
J. Alexander's Holdings, Inc.
JAX
$2.02M 1.22%
205,650
– –
EVRI
4
CALL
DELISTED
Everi Holdings
EVRI
$1.12M 0.67%
350,000
-851,700
-71% -$6.48M
EXPE icon
5
PUT
Expedia Group
EXPE
$38.2B
$124K 0.07%
+25,000
New +$3.04M
T icon
6
CALL
AT&T
T
$174B
$118K 0.07%
+529,600
New +$12.2M
ECC
7
Eagle Point Credit Company
ECC
$508M
$113K 0.07%
+6,788
New +$109K
T icon
8
PUT
AT&T
T
$174B
$108K 0.07%
+529,600
New +$12.2M
NBL
9
PUT
DELISTED
Noble Energy, Inc.
NBL
$31K 0.02%
1,000,000
– –
UNIT
10
CALL
Uniti Group
UNIT
$2.45B
$22K 0.01%
685,600
+445,200
+185% +$6.52M
EXPE icon
11
CALL
Expedia Group
EXPE
$38.2B
$21K 0.01%
+25,000
New +$3.04M
GDP
12
DELISTED
Goodrich Petroleum Corporation Common Stock
GDP
$16K 0.01%
+1,210
New +$16.3K
DPLO
13
CALL
DELISTED
DIPLOMAT PHARMACY, INC.
DPLO
$15K 0.01%
+300,000
New +$3.1M
GLNG icon
14
PUT
Golar LNG
GLNG
$5.27B
– –
-40,000
Closed -$138K
JACK icon
15
CALL
Jack in the Box
JACK
$306M
– –
-150,000
Closed -$116K
NNBR icon
16
CALL
NN Inc
NNBR
$294M
– –
-80,000
Closed -$10K
SPY icon
17
CALL
State Street SPDR S&P 500 ETF Trust
SPY
$827B
– –
-100,000
Closed -$18K
SPY icon
18
PUT
State Street SPDR S&P 500 ETF Trust
SPY
$827B
– –
-225,000
Closed -$1.29M
PE
19
PUT
DELISTED
PARSLEY ENERGY INC
PE
– –
-800,000
Closed -$70K
CCC.U
20
DELISTED
Churchill Capital Corp
CCC.U
– –
-300,000
Closed -$3.04M
CZR
21
CALL
DELISTED
Caesars Entertainment Corporation
CZR
– –
-1,333,300
Closed -$42K

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DA
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RJTCONH
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RVM
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HSC
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Birch Grove Capital's Q1 2019 Portfolio in Review

As of Q1 2019, Birch Grove Capital held 31 positions worth $166M, down 25% from $222M the previous quarter. Its ten largest holdings account for 90% of the portfolio.

Birch Grove Capital withdrew a net $152M in Q1 2019, closing 8 positions and reducing 1 holding. Its most notable exit was Churchill Capital Corp, an estimated $3.04M position sold in full.

By sector, the portfolio is most concentrated in Miscellaneous at 89% of assets, down from 93% a quarter earlier, followed by Energy and Consumer Discretionary.

Against the trend, Birch Grove Capital opened a new position in Eagle Point Credit Company worth $113K.

  • Birch Grove Capital's largest Q1 2019 buy was Eagle Point Credit Company: 6,788 shares worth $113K.
  • Birch Grove Capital added most to Everi Holdings in Q1 2019, an estimated $3.48M increase.
  • Birch Grove Capital fully exited Churchill Capital Corp in Q1 2019, selling an estimated $3.04M.
  • Birch Grove Capital's ten largest holdings make up 90% of its $166M portfolio in Q1 2019.
  • Birch Grove Capital opened 7 new positions and closed 8 in Q1 2019.
  • Birch Grove Capital's portfolio value fell 25% quarter-over-quarter to $166M.

Based on Birch Grove Capital's 13F filing for Q1 2019, filed 15 May 2019.