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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
(-25%)
Cap. Flow
-$152M
Cap. Flow
% of AUM
-91.57%
Top 10 Holdings %
Top 10 Hldgs %
90.45%
Holding
31
New
7
Increased
2
Reduced
1
Closed
8
Avg Time Held Equity + Options
2.7
quarters
Top 10 Avg Time Held Equity + Options
3.5
quarters
Top 20 Avg Time Held Equity + Options
2.9
quarters
Avg Time Held Equity only
3.8
quarters
Top 10 Avg Time Held Equity only
3.5
quarters
Top 20 Avg Time Held Equity only
3.8
quarters
Top Buys
| Rank | Stock | Value |
|---|---|---|
| 1 |
Everi Holdings
EVRI
|
+$3.48M |
| 2 |
Eagle Point Credit Company
ECC
|
+$109K |
| 3 |
GDP
Goodrich Petroleum Corporation Common Stock
GDP
|
+$16.3K |
Top Sells
| Rank | Stock | Value |
|---|---|---|
| 1 |
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 | Held Since | |
|---|---|---|---|---|---|---|---|
1
DELISTED
Independence Contract Drilling, Inc.
ICD
| $11.8M | 7.1% |
212,633
| – | – |
2018 Q3
2 quarters
|
|
|
2
DELISTED
Everi Holdings
EVRI
| $5.13M | 3.09% |
488,007
+458,107
| +1,532% | +$3.48M |
2018 Q4
1 quarter
|
|
|
JAX
3
DELISTED
J. Alexander's Holdings, Inc.
JAX
| $2.02M | 1.22% |
205,650
| – | – |
2017 Q1
8 quarters
|
|
|
4
CALL
DELISTED
Everi Holdings
EVRI
| $1.12M | 0.67% |
350,000
-851,700
| -71% | -$6.48M |
2018 Q4
1 quarter
|
|
5
PUT
Expedia Group
EXPE
$32.4B
| $124K | 0.07% |
+25,000
| New | +$3.04M |
2019 Q1
0 quarters
|
|
6
CALL
AT&T
T
$154B
| $118K | 0.07% |
+529,600
| New | +$12.2M |
2019 Q1
0 quarters
|
|
|
7
Eagle Point Credit Company
ECC
$407M
| $113K | 0.07% |
+6,788
| New | +$109K |
2019 Q1
0 quarters
|
|
|
8
PUT
AT&T
T
$154B
| $108K | 0.07% |
+529,600
| New | +$12.2M |
2019 Q1
0 quarters
|
|
|
NBL
9
PUT
DELISTED
Noble Energy, Inc.
NBL
| $31K | 0.02% |
1,000,000
| – | – |
2018 Q4
1 quarter
|
|
10
CALL
Uniti Group
UNIT
$1.67B
| $22K | 0.01% |
685,600
+445,200
| +185% | +$6.52M |
2018 Q1
4 quarters
|
|
|
11
CALL
Expedia Group
EXPE
$32.4B
| $21K | 0.01% |
+25,000
| New | +$3.04M |
2019 Q1
0 quarters
|
|
|
GDP
12
DELISTED
Goodrich Petroleum Corporation Common Stock
GDP
| $16K | 0.01% |
+1,210
| New | +$16.3K |
2019 Q1
0 quarters
|
|
|
DPLO
13
CALL
DELISTED
DIPLOMAT PHARMACY, INC.
DPLO
| $15K | 0.01% |
+300,000
| New | +$3.1M |
2019 Q1
0 quarters
|
|
14
PUT
Golar LNG
GLNG
$4.94B
| – | – |
-40,000
| Closed | -$138K | – |
|
15
CALL
Jack in the Box
JACK
$233M
| – | – |
-150,000
| Closed | -$116K | – |
|
16
CALL
NN Inc
NNBR
$373M
| – | – |
-80,000
| Closed | -$10K | – |
|
17
CALL
State Street SPDR S&P 500 ETF Trust
SPY
$821B
| – | – |
-100,000
| Closed | -$18K | – |
|
|
18
PUT
State Street SPDR S&P 500 ETF Trust
SPY
$821B
| – | – |
-225,000
| Closed | -$1.29M | – |
|
|
PE
19
PUT
DELISTED
PARSLEY ENERGY INC
PE
| – | – |
-800,000
| Closed | -$70K | – |
|
|
20
DELISTED
Churchill Capital Corp
CCC.U
| – | – |
-300,000
| Closed | -$3.04M | – |
|
21
CALL
DELISTED
Caesars Entertainment Corporation
CZR
| – | – |
-1,333,300
| Closed | -$42K | – |
|
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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.