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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
-0.78%
1 Year Est. Return
+0.22%
3 Year Est. Return
-2.66%
5 Year Est. Return
+14%
10 Year Est. Return
–
AUM
$80.7M
AUM Growth
-$54M
(-40%)
Cap. Flow
-$86.6M
Cap. Flow
% of AUM
-107.4%
Top 10 Holdings %
Top 10 Hldgs %
99.76%
Holding
26
New
2
Increased
1
Reduced
3
Closed
10
Avg Time Held Equity + Options
2.6
quarters
Top 10 Avg Time Held Equity + Options
3.3
quarters
Top 20 Avg Time Held Equity + Options
2.4
quarters
Avg Time Held Equity only
3.6
quarters
Top 10 Avg Time Held Equity only
3.3
quarters
Top 20 Avg Time Held Equity only
3.6
quarters
Top Buys
| Rank | Stock | Value |
|---|---|---|
| 1 |
Skillsoft
SKIL
|
+$767K |
Top Sells
| Rank | Stock | Value |
|---|---|---|
| 1 |
Everi Holdings
EVRI
|
+$1.8M |
| 2 |
Hess
HES
|
+$363K |
Sector Composition
| Rank | Sector | Weight |
|---|---|---|
| 1 | Miscellaneous | 93.53% |
| 2 | Energy | 5.26% |
| 3 | Consumer Staples | 0.96% |
| 4 | Consumer Discretionary | 0.26% |
| Name | Market Value | Portfolio Weight | Shares or Principal |
Change in Stake | Capital Flow | Held Since | |
|---|---|---|---|---|---|---|---|
1
DELISTED
Independence Contract Drilling, Inc.
ICD
| $4.24M | 5.26% |
212,633
| – | – |
2018 Q3
5 quarters
|
|
|
CCX.U
2
DELISTED
Churchill Capital Corp II
CCX.U
| $1.08M | 1.34% |
100,000
| – | – |
2019 Q3
1 quarter
|
|
|
3
Skillsoft
SKIL
$57.3M
| $774K | 0.96% |
+3,750
| New | +$767K |
2019 Q4
0 quarters
|
|
|
HABT
4
DELISTED
The Habit Restaurants, Inc. - Class A
HABT
| $209K | 0.26% |
20,032
| – | – |
2019 Q3
1 quarter
|
|
5
CALL
Conagra Brands
CAG
$6.49B
| $90K | 0.11% |
60,000
-30,000
| -33% | -$869K |
2019 Q3
1 quarter
|
|
6
CALL
Kroger
KR
$36.7B
| $72K | 0.09% |
60,000
-60,000
| -50% | -$1.59M |
2019 Q3
1 quarter
|
|
7
PUT
Jazz Pharmaceuticals
JAZZ
$14.2B
| $11K | 0.01% |
+14,700
| New | +$2M |
2019 Q4
0 quarters
|
|
|
AMAG
8
PUT
DELISTED
AMAG Pharmaceuticals
AMAG
| $11K | 0.01% |
45,000
-75,000
| -63% | -$820K |
2019 Q3
1 quarter
|
|
|
9
PUT
Kroger
KR
$36.7B
| $4K | 0.01% |
120,000
| – | – |
2019 Q3
1 quarter
|
|
|
10
PUT
Conagra Brands
CAG
$6.49B
| $3K | ﹤0.01% |
119,800
+29,800
| +33% | +$863K |
2019 Q3
1 quarter
|
|
11
PUT
Evolent Health
EVH
$466M
| – | – |
-81,900
| Closed | -$77K | – |
|
|
12
DELISTED
Everi Holdings
EVRI
| – | – |
-213,007
| Closed | -$1.8M | – |
|
13
PUT
Golar LNG
GLNG
$4.93B
| – | – |
-133,300
| Closed | -$46K | – |
|
|
14
CALL
DELISTED
Hess
HES
| – | – |
-30,000
| Closed | -$6K | – |
|
|
15
DELISTED
Hess
HES
| – | – |
-6,000
| Closed | -$363K | – |
|
|
16
PUT
DELISTED
Hess
HES
| – | – |
-40,000
| Closed | -$58K | – |
|
17
PUT
iShares iBoxx $ High Yield Corporate Bond ETF
HYG
$18B
| – | – |
-200,000
| Closed | -$12K | – |
|
18
PUT
State Street SPDR S&P 500 ETF Trust
SPY
$821B
| – | – |
-165,000
| Closed | -$14K | – |
|
|
NUAN
19
PUT
DELISTED
Nuance Communications, Inc.
NUAN
| – | – |
-181,335
| Closed | -$47K | – |
|
|
CARB
20
PUT
DELISTED
Carbonite Inc
CARB
| – | – |
-50,000
| Closed | -$13K | – |
|
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Birch Grove Capital's Q4 2019 Portfolio in Review
As of Q4 2019, Birch Grove Capital held 26 positions worth $80.7M, down 40% from $135M the previous quarter. Its ten largest holdings account for 100% of the portfolio.
Birch Grove Capital withdrew a net $86.6M in Q4 2019, closing 10 positions and reducing 3 holdings. Its most notable exit was Everi Holdings, an estimated $1.8M position sold in full.
By sector, the portfolio is most concentrated in Miscellaneous at 94% of assets, down from 94% a quarter earlier, followed by Energy and Consumer Staples.
Against the trend, Birch Grove Capital opened a new position in Skillsoft worth $774K.
- Birch Grove Capital's largest Q4 2019 buy was Skillsoft: 3,750 shares worth $774K.
- Birch Grove Capital fully exited Everi Holdings in Q4 2019, selling an estimated $1.8M.
- Birch Grove Capital's ten largest holdings make up 100% of its $80.7M portfolio in Q4 2019.
- Birch Grove Capital opened 2 new positions and closed 10 in Q4 2019.
- Birch Grove Capital's portfolio value fell 40% quarter-over-quarter to $80.7M.
Based on Birch Grove Capital's 13F filing for Q4 2019, filed 14 Feb 2020.