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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
(-11%)
Cap. Flow
-$164M
Cap. Flow
% of AUM
-79.69%
Top 10 Holdings %
Top 10 Hldgs %
60.92%
Holding
59
New
8
Increased
5
Reduced
7
Closed
13
Avg Time Held Equity + Options
2
quarters
Top 10 Avg Time Held Equity + Options
1.9
quarters
Top 20 Avg Time Held Equity + Options
1.8
quarters
Avg Time Held Equity only
2.1
quarters
Top 10 Avg Time Held Equity only
1.9
quarters
Top 20 Avg Time Held Equity only
1.8
quarters
Top Buys
| Rank | Stock | Value |
|---|---|---|
| 1 |
CCV
Churchill Capital Corp V
CCV
|
+$4M |
| 2 |
Spirit AeroSystems
SPR
|
+$2.14M |
| 3 |
Flexion Therapeutics, Inc.
FLXN
|
+$527K |
| 4 |
Radius Health, Inc.
RDUS
|
+$258K |
| 5 |
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 |
WESCO International
WCC
|
+$3.56M |
| 3 |
ChampionX
CHX
|
+$3.17M |
| 4 |
Tenet Healthcare
THC
|
+$3M |
| 5 |
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 | Held Since | |
|---|---|---|---|---|---|---|---|
|
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
| – | – |
2021 Q1
1 quarter
|
|
|
CCV
2
DELISTED
Churchill Capital Corp V
CCV
| $4.03M | 1.96% |
+400,000
| New | +$4M |
2021 Q2
0 quarters
|
|
3
DELISTED
Churchill Capital Corp VII Units
CVIIU
| $4M | 1.95% |
400,000
| – | – |
2021 Q1
1 quarter
|
|
4
Newmark Group
NMRK
$2.13B
| $3.66M | 1.78% |
304,600
-5,400
| -2% | -$64.7K |
2020 Q2
4 quarters
|
|
5
DELISTED
GoHealth
GOCO
| $3.5M | 1.7% |
20,847
| – | – |
2020 Q4
2 quarters
|
|
|
6
Brink's
BCO
$4.26B
| $3.17M | 1.54% |
41,323
+3,250
| +9% | +$253K |
2020 Q3
3 quarters
|
|
7
BioMarin Pharmaceuticals
BMRN
$10.8B
| $2.95M | 1.43% |
35,350
| – | – |
2020 Q3
3 quarters
|
|
8
Walt Disney
DIS
$188B
| $2.75M | 1.34% |
15,650
| – | – |
2020 Q2
4 quarters
|
|
9
O-I Glass
OI
$930M
| $2.75M | 1.33% |
168,100
+13,500
| +9% | +$229K |
2020 Q2
4 quarters
|
|
10
WillScot Mobile Mini Holdings
WSC
$3.17B
| $2.73M | 1.33% |
98,050
-52,200
| -35% | -$1.5M |
2020 Q3
3 quarters
|
|
11
SelectQuote
SLQT
$62.7M
| $2.47M | 1.2% |
128,231
+400
| +0.3% | +$9.98K |
2020 Q4
2 quarters
|
|
12
Claritev Corp
CTEV
$414M
| $2.21M | 1.07% |
5,797
-6,153
| -51% | -$1.91M |
2020 Q4
2 quarters
|
|
13
Las Vegas Sands
LVS
$23.2B
| $2.15M | 1.04% |
40,750
| – | – |
2020 Q2
4 quarters
|
|
|
14
DELISTED
Spirit AeroSystems
SPR
| $2.13M | 1.03% |
+45,120
| New | +$2.14M |
2021 Q2
0 quarters
|
|
15
DHT Holdings
DHT
$4.2B
| $2M | 0.97% |
307,380
+13,380
| +5% | +$82.1K |
2020 Q3
3 quarters
|
|
16
Howard Hughes
HHH
$4.36B
| $1.69M | 0.82% |
18,237
-8,733
| -32% | -$865K |
2020 Q2
4 quarters
|
|
|
17
DELISTED
Radius Health, Inc.
RDUS
| $1.36M | 0.66% |
74,532
+13,000
| +21% | +$258K |
2020 Q4
2 quarters
|
|
18
eHealth
EHTH
$21.5M
| $569K | 0.28% |
9,737
| – | – |
2020 Q3
3 quarters
|
|
|
19
DELISTED
Flexion Therapeutics, Inc.
FLXN
| $510K | 0.25% |
+62,000
| New | +$527K |
2021 Q2
0 quarters
|
|
20
PUT
iShares Russell 2000 ETF
IWM
$78.3B
| $431K | 0.21% |
100,700
-100,300
| -50% | -$22.6M |
2020 Q4
2 quarters
|
|
21
PUT
State Street SPDR S&P 500 ETF Trust
SPY
$821B
| $360K | 0.17% |
91,500
-31,800
| -26% | -$13.3M |
2020 Q2
4 quarters
|
|
22
PUT
Invesco QQQ Trust
QQQ
$499B
| $334K | 0.16% |
+90,300
| New | +$30.4M |
2021 Q2
0 quarters
|
|
|
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 |
2021 Q2
0 quarters
|
|
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
| – | – |
2020 Q4
2 quarters
|
|
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 |
2021 Q2
0 quarters
|
|
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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.