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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
Cap. Flow
-$86.6M
Cap. Flow %
-107.4%
Top 10 Hldgs %
99.76%
Holding
26
New
2
Increased
1
Reduced
3
Closed
10

Top Buys

Rank Stock Value
1
SKIL icon
Skillsoft
SKIL
+$767K

Top Sells

Rank Stock Value
1
EVRI
Everi Holdings
EVRI
+$1.8M
2
HES
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
ICD
1
DELISTED
Independence Contract Drilling, Inc.
ICD
$4.24M 5.26%
212,633
– –
CCX.U
2
DELISTED
Churchill Capital Corp II
CCX.U
$1.08M 1.34%
100,000
– –
SKIL icon
3
Skillsoft
SKIL
$59.5M
$774K 0.96%
+3,750
New +$767K
HABT
4
DELISTED
The Habit Restaurants, Inc. - Class A
HABT
$209K 0.26%
20,032
– –
CAG icon
5
CALL
Conagra Brands
CAG
$7.68B
$90K 0.11%
60,000
-30,000
-33% -$869K
KR icon
6
CALL
Kroger
KR
$34.9B
$72K 0.09%
60,000
-60,000
-50% -$1.59M
JAZZ icon
7
PUT
Jazz Pharmaceuticals
JAZZ
$16.3B
$11K 0.01%
+14,700
New +$2M
AMAG
8
PUT
DELISTED
AMAG Pharmaceuticals
AMAG
$11K 0.01%
45,000
-75,000
-63% -$820K
KR icon
9
PUT
Kroger
KR
$34.9B
$4K 0.01%
120,000
– –
CAG icon
10
PUT
Conagra Brands
CAG
$7.68B
$3K ﹤0.01%
119,800
+29,800
+33% +$863K
EVH icon
11
PUT
Evolent Health
EVH
$518M
– –
-81,900
Closed -$77K
EVRI
12
DELISTED
Everi Holdings
EVRI
– –
-213,007
Closed -$1.8M
GLNG icon
13
PUT
Golar LNG
GLNG
$5.27B
– –
-133,300
Closed -$46K
HES
14
CALL
DELISTED
Hess
HES
– –
-30,000
Closed -$6K
HES
15
DELISTED
Hess
HES
– –
-6,000
Closed -$363K
HES
16
PUT
DELISTED
Hess
HES
– –
-40,000
Closed -$58K
HYG icon
17
PUT
iShares iBoxx $ High Yield Corporate Bond ETF
HYG
$17.6B
– –
-200,000
Closed -$12K
SPY icon
18
PUT
State Street SPDR S&P 500 ETF Trust
SPY
$827B
– –
-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.