BGC

Birch Grove Capital Portfolio holdings

AUM $9.51M Turnover 25%
1-Year Est. Return 0.22%
This Fund
S&P 500
This Quarter Est. Return
+1.23%
1 Year Est. Return
+0.22%
3 Year Est. Return
-2.66%
5 Year Est. Return
+14%
10 Year Est. Return
–
AUM
$185M
AUM Growth
+$64M
Cap. Flow
-$26.8M
Cap. Flow %
-14.5%
Top 10 Hldgs %
60.71%
Holding
58
New
11
Increased
14
Reduced
2
Closed
12
Avg Time Held Equity + Options
0.3 years
Top 10 Avg Time Held Equity + Options
0.5 years
Top 20 Avg Time Held Equity + Options
0.3 years
Avg Time Held Equity only
0.3 years
Top 10 Avg Time Held Equity only
0.5 years
Top 20 Avg Time Held Equity only
0.3 years

Top Buys

Rank Stock Value
1
BCO icon
Brink's
BCO
+$4.18M
2
CCIV.U
Churchill Capital Corp IV Units, each consisting of one share of Class A common stock and one-fifth
CCIV.U
+$3M
3
JPM icon
JPMorgan Chase
JPM
+$2.75M
4
BMRN icon
BioMarin Pharmaceuticals
BMRN
+$2.7M
5
GS icon
Goldman Sachs
GS
+$2.54M

Top Sells

Rank Stock Value
1
SGRY icon
Surgery Partners
SGRY
+$1.17M
2
BYD icon
Boyd Gaming
BYD
+$640K
3
HCA icon
HCA Healthcare
HCA
+$446K

Sector Composition

Rank Sector Weight
1 Miscellaneous 70.79%
2 Financials 6.54%
3 Consumer Discretionary 5.52%
4 Communication Services 4.66%
5 Industrials 3.54%
Name Market Value Portfolio Weight Shares or Principal Change
in Stake 		Capital Flow Held Since
JPM icon
1
JPMorgan Chase
JPM
$890B
$3.71M 2.01%
38,500
+28,000
+267% +$2.75M
2020 Q2
1 quarter
IHRT icon
2
iHeartMedia
IHRT
$268M
$3.65M 1.98%
449,500
+281,000
+167% +$2.39M
2020 Q2
1 quarter
BCO icon
3
Brink's
BCO
$4.2B
$3.64M 1.97%
+94,923
New +$4.18M
2020 Q3
0 quarters
CCXX.U
4
DELISTED
Churchill Capital Corp III Units, each consisting of one share of Class A Common Stock and one-fourt
CCXX.U
$3.15M 1.71%
300,000
– –
2020 Q1
2 quarters
ECC icon
5
Eagle Point Credit Company
ECC
$379M
$3.08M 1.67%
356,784
+176,000
+97% +$1.37M
2020 Q1
2 quarters
GS icon
6
Goldman Sachs
GS
$256B
$3.07M 1.66%
15,280
+12,480
+446% +$2.54M
2020 Q2
1 quarter
CCIV.U
7
DELISTED
Churchill Capital Corp IV Units, each consisting of one share of Class A common stock and one-fifth
CCIV.U
$3.01M 1.63%
+300,000
New +$3M
2020 Q3
0 quarters
OI icon
8
O-I Glass
OI
$884M
$2.96M 1.6%
279,500
+187,000
+202% +$2M
2020 Q2
1 quarter
DIS icon
9
Walt Disney
DIS
$188B
$2.89M 1.57%
23,300
+19,050
+448% +$2.38M
2020 Q2
1 quarter
LVS icon
10
Las Vegas Sands
LVS
$24B
$2.83M 1.54%
60,750
+33,000
+119% +$1.58M
2020 Q2
1 quarter
ATH
11
DELISTED
Athene Holding Ltd. Class A Common Shares
ATH
$2.64M 1.43%
77,475
– –
2020 Q2
1 quarter
NVST icon
12
Envista
NVST
$3.67B
$2.33M 1.26%
94,500
– –
2020 Q2
1 quarter
SYY icon
13
Sysco
SYY
$39.8B
$2.3M 1.25%
36,950
+20,850
+130% +$1.21M
2020 Q2
1 quarter
SIX icon
14
DELISTED
Six Flags Entertainment Corp.
SIX
$2.06M 1.12%
101,530
+69,280
+215% +$1.42M
2020 Q2
1 quarter
BMRN icon
15
BioMarin Pharmaceuticals
BMRN
$10.7B
$2.03M 1.1%
+26,650
New +$2.7M
2020 Q3
0 quarters
WSC icon
16
WillScot Mobile Mini Holdings
WSC
$2.93B
$2.02M 1.09%
+120,900
New +$1.93M
2020 Q3
0 quarters
HHH icon
17
Howard Hughes
HHH
$4.08B
$1.99M 1.08%
36,253
+19,469
+116% +$1.04M
2020 Q2
1 quarter
FUN icon
18
Cedar Fair
FUN
$915M
$1.85M 1%
66,000
+44,500
+207% +$1.23M
2020 Q2
1 quarter
DHT icon
19
DHT Holdings
DHT
$4.02B
$1.64M 0.89%
+318,000
New +$1.76M
2020 Q3
0 quarters
EHTH icon
20
eHealth
EHTH
$19.5M
$1.63M 0.88%
+20,600
New +$1.67M
2020 Q3
0 quarters
NMRK icon
21
Newmark Group
NMRK
$2.1B
$1.61M 0.87%
372,000
+172,000
+86% +$744K
2020 Q2
1 quarter
SABR icon
22
Sabre
SABR
$718M
$1.58M 0.86%
256,100
+105,600
+70% +$782K
2020 Q2
1 quarter
ANIP icon
23
ANI Pharmaceuticals
ANIP
$1.61B
$1.43M 0.78%
+50,791
New +$1.51M
2020 Q3
0 quarters
BYD icon
24
Boyd Gaming
BYD
$5.06B
$1.43M 0.77%
30,500
-25,500
-46% -$640K
2020 Q2
1 quarter
SKIL icon
25
Skillsoft
SKIL
$51.6M
$1.35M 0.73%
6,411
– –
2019 Q4
3 quarters
1
2

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DA
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RJTCONH
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RVM
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HSC
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JDR
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Birch Grove Capital's Q3 2020 Portfolio in Review

As of Q3 2020, Birch Grove Capital held 58 positions worth $185M, up 53% from $121M the previous quarter. Its ten largest holdings account for 61% of the portfolio.

Birch Grove Capital withdrew a net $26.8M in Q3 2020, closing 12 positions and reducing 2 holdings. Its most notable exit was Surgery Partners, an estimated $1.17M position sold in full.

By sector, the portfolio is most concentrated in Miscellaneous at 71% of assets, down from 83% a quarter earlier, followed by Financials and Consumer Discretionary.

Against the trend, Birch Grove Capital opened a new position in Brink's worth $3.64M.

  • Birch Grove Capital's largest Q3 2020 buy was Brink's: 94,923 shares worth $3.64M.
  • Birch Grove Capital added most to JPMorgan Chase in Q3 2020, an estimated $2.75M increase.
  • Birch Grove Capital's biggest Q3 2020 reduction was Boyd Gaming, cutting an estimated $640K.
  • Birch Grove Capital fully exited Surgery Partners in Q3 2020, selling an estimated $1.17M.
  • Birch Grove Capital's ten largest holdings make up 61% of its $185M portfolio in Q3 2020.
  • Birch Grove Capital opened 11 new positions and closed 12 in Q3 2020.
  • Birch Grove Capital's portfolio value rose 53% quarter-over-quarter to $185M.

Based on Birch Grove Capital's 13F filing for Q3 2020, filed 16 Nov 2020.