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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
+0.84%
1 Year Est. Return
+0.22%
3 Year Est. Return
-2.66%
5 Year Est. Return
+14%
10 Year Est. Return
–
AUM
$206M
AUM Growth
-$24.6M
Cap. Flow
-$164M
Cap. Flow %
-79.69%
Top 10 Hldgs %
60.92%
Holding
59
New
8
Increased
5
Reduced
7
Closed
13

Top Buys

Rank Stock Value
1
CCV
Churchill Capital Corp V
CCV
+$4M
2
SPR
Spirit AeroSystems
SPR
+$2.14M
3
FLXN
Flexion Therapeutics, Inc.
FLXN
+$527K
4
RDUS
Radius Health, Inc.
RDUS
+$258K
5
BCO icon
Brink's
BCO
+$253K

Top Sells

Rank Stock Value
1
CCV.U
Churchill Capital Corp V Units, each consisting of one share of Class A common stock, and one-fourth of one redeemable warrant
CCV.U
+$4.08M
2
WCC
WESCO International
WCC
+$3.56M
3
CHX
ChampionX
CHX
+$3.17M
4
THC icon
Tenet Healthcare
THC
+$3M
5
CVS icon
CVS Health
CVS
+$2.63M

Sector Composition

Rank Sector Weight
1 Miscellaneous 80.26%
2 Financials 5.14%
3 Industrials 3.91%
4 Healthcare 3.41%
5 Real Estate 2.6%
Name Market Value Portfolio Weight Shares or Principal Change
in Stake 		Capital Flow
CCVI.U
1
DELISTED
Churchill Capital Corp VI Units, each consisting of one share of Class A common stock, and one-fifth of one redeemable warrant
CCVI.U
$4.05M 1.97%
400,000
– –
CCV
2
DELISTED
Churchill Capital Corp V
CCV
$4.03M 1.96%
+400,000
New +$4M
CVIIU
3
DELISTED
Churchill Capital Corp VII Units
CVIIU
$4M 1.95%
400,000
– –
NMRK icon
4
Newmark Group
NMRK
$2.82B
$3.66M 1.78%
304,600
-5,400
-2% -$64.7K
GOCO
5
DELISTED
GoHealth
GOCO
$3.5M 1.7%
20,847
– –
BCO icon
6
Brink's
BCO
$4.51B
$3.17M 1.54%
41,323
+3,250
+9% +$253K
BMRN icon
7
BioMarin Pharmaceuticals
BMRN
$12.6B
$2.95M 1.43%
35,350
– –
DIS icon
8
Walt Disney
DIS
$184B
$2.75M 1.34%
15,650
– –
OI icon
9
O-I Glass
OI
$1.11B
$2.75M 1.33%
168,100
+13,500
+9% +$229K
WSC icon
10
WillScot Mobile Mini Holdings
WSC
$3.79B
$2.73M 1.33%
98,050
-52,200
-35% -$1.5M
SLQT icon
11
SelectQuote
SLQT
$95.3M
$2.47M 1.2%
128,231
+400
+0.3% +$9.98K
CTEV
12
Claritev Corp
CTEV
$657M
$2.21M 1.07%
5,797
-6,153
-51% -$1.91M
LVS icon
13
Las Vegas Sands
LVS
$28.7B
$2.15M 1.04%
40,750
– –
SPR
14
DELISTED
Spirit AeroSystems
SPR
$2.13M 1.03%
+45,120
New +$2.14M
DHT icon
15
DHT Holdings
DHT
$3.12B
$2M 0.97%
307,380
+13,380
+5% +$82.1K
HHH icon
16
Howard Hughes
HHH
$3.88B
$1.69M 0.82%
18,237
-8,733
-32% -$865K
RDUS
17
DELISTED
Radius Health, Inc.
RDUS
$1.36M 0.66%
74,532
+13,000
+21% +$258K
EHTH icon
18
eHealth
EHTH
$36.5M
$569K 0.28%
9,737
– –
FLXN
19
DELISTED
Flexion Therapeutics, Inc.
FLXN
$510K 0.25%
+62,000
New +$527K
IWM icon
20
PUT
iShares Russell 2000 ETF
IWM
$81.9B
$431K 0.21%
100,700
-100,300
-50% -$22.6M
SPY icon
21
PUT
State Street SPDR S&P 500 ETF Trust
SPY
$827B
$360K 0.17%
91,500
-31,800
-26% -$13.3M
QQQ icon
22
PUT
Invesco QQQ Trust
QQQ
$493B
$334K 0.16%
+90,300
New +$30.4M
CCV.WS
23
DELISTED
Churchill Capital Corp V Warrants, each exercisable for one share of Class A common stock at an exercise price of $11.50 per share
CCV.WS
$206K 0.1%
+100,000
New +$153K
MPLN.WS
24
DELISTED
MultiPlan Corporation Warrants, each exercisable for one share of Class A common stock at an exercise price of $11.50 per share
MPLN.WS
$170K 0.08%
75,000
– –
SKIL.WS
25
DELISTED
Skillsoft Corp. Warrants, each whole warrant is exercisable for 1/20th of a share of Class A Common Stock at an exercise price of $230.00
SKIL.WS
$84K 0.04%
+33,332
New +$70.5K
1
2

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Birch Grove Capital's Q2 2021 Portfolio in Review

As of Q2 2021, Birch Grove Capital held 59 positions worth $206M, down 11% from $230M the previous quarter. Its ten largest holdings account for 61% of the portfolio.

Birch Grove Capital withdrew a net $164M in Q2 2021, closing 13 positions and reducing 7 holdings. Its most notable exit was Churchill Capital Corp V Units, each consisting of one share of Class A common stock, and one-fourth of one redeemable warrant, an estimated $4.08M position sold in full.

By sector, the portfolio is most concentrated in Miscellaneous at 80% of assets, up from 76% a quarter earlier, followed by Financials and Industrials.

Against the trend, Birch Grove Capital opened a new position in Churchill Capital Corp V worth $4.03M.

  • Birch Grove Capital's largest Q2 2021 buy was Churchill Capital Corp V: 400,000 shares worth $4.03M.
  • Birch Grove Capital added most to Radius Health, Inc. in Q2 2021, an estimated $258K increase.
  • Birch Grove Capital's biggest Q2 2021 reduction was Claritev Corp, cutting an estimated $1.91M.
  • Birch Grove Capital fully exited Churchill Capital Corp V Units, each consisting of one share of Class A common stock, and one-fourth of one redeemable warrant in Q2 2021, selling an estimated $4.08M.
  • Birch Grove Capital's ten largest holdings make up 61% of its $206M portfolio in Q2 2021.
  • Birch Grove Capital opened 8 new positions and closed 13 in Q2 2021.
  • Birch Grove Capital's portfolio value fell 11% quarter-over-quarter to $206M.

Based on Birch Grove Capital's 13F filing for Q2 2021, filed 16 Aug 2021.