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
-1.29%
1 Year Est. Return
+0.22%
3 Year Est. Return
-2.66%
5 Year Est. Return
+14%
10 Year Est. Return
–
AUM
$245M
AUM Growth
+$23.9M
Cap. Flow
-$156M
Cap. Flow %
-63.6%
Top 10 Hldgs %
61.59%
Holding
47
New
3
Increased
5
Reduced
5
Closed
9
Avg Time Held Equity + Options
0.7 years
Top 10 Avg Time Held Equity + Options
0.5 years
Top 20 Avg Time Held Equity + Options
0.5 years
Avg Time Held Equity only
0.7 years
Top 10 Avg Time Held Equity only
0.5 years
Top 20 Avg Time Held Equity only
0.5 years

Top Buys

Rank Stock Value
1
STRY
Starry Group Holdings, Inc.
STRY
+$6.54M
2
KAMN icon
Kaman Corp
KAMN
+$987K
3
DHT icon
DHT Holdings
DHT
+$827K
4
OI icon
O-I Glass
OI
+$205K
5
MPLN.WS icon
MultiPlan Corporation Warrants, each exercisable for one share of Class A common stock at an exercise price of $11.50 per share
MPLN.WS
+$173K

Top Sells

Rank Stock Value
1
CCVI.U
Churchill Capital Corp VI Units, each consisting of one share of Class A common stock, and one-fifth of one redeemable warrant
CCVI.U
+$3.98M
2
CCV
Churchill Capital Corp V
CCV
+$3.94M
3
CVIIU icon
Churchill Capital Corp VII Units
CVIIU
+$3.16M
4
BMRN icon
BioMarin Pharmaceuticals
BMRN
+$2.73M
5
LVS icon
Las Vegas Sands
LVS
+$1.53M

Sector Composition

Rank Sector Weight
1 Miscellaneous 87.44%
2 Communication Services 3.53%
3 Healthcare 3.35%
4 Industrials 3.34%
5 Energy 1.18%
Name Market Value Portfolio Weight Shares or Principal Change
in Stake 		Capital Flow Held Since
STRY
1
DELISTED
Starry Group Holdings, Inc.
STRY
$8.65M 3.53%
+757,412
New +$6.54M
2022 Q1
0 quarters
NOTV icon
2
DELISTED
Inotiv
NOTV
$7.75M 3.17%
296,097
– –
2021 Q4
1 quarter
DHT icon
3
DHT Holdings
DHT
$3.99B
$2.89M 1.18%
498,478
+150,200
+43% +$827K
2020 Q3
6 quarters
SPR icon
4
DELISTED
Spirit AeroSystems
SPR
$2.82M 1.15%
57,720
-12,500
-18% -$585K
2021 Q2
3 quarters
KAMN icon
5
DELISTED
Kaman Corp
KAMN
$2.78M 1.13%
63,874
+23,300
+57% +$987K
2021 Q4
1 quarter
BCO icon
6
Brink's
BCO
$4.19B
$2.58M 1.05%
37,873
– –
2020 Q3
6 quarters
OI icon
7
O-I Glass
OI
$874M
$2.42M 0.99%
183,200
+15,750
+9% +$205K
2020 Q2
7 quarters
IWM icon
8
PUT
iShares Russell 2000 ETF
IWM
$76.2B
$856K 0.35%
161,000
-36,800
-19% -$7.51M
2020 Q4
5 quarters
MPLN.WS icon
9
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
$827K 0.34%
235,115
+160,115
+213% +$173K
2020 Q4
5 quarters
HYG icon
10
PUT
iShares iBoxx $ High Yield Corporate Bond ETF
HYG
$17.8B
$749K 0.31%
710,000
+304,500
+75% +$25.5M
2021 Q4
1 quarter
RDUS icon
11
DELISTED
Radius Health, Inc.
RDUS
$446K 0.18%
50,532
– –
2020 Q4
5 quarters
SLQT icon
12
SelectQuote
SLQT
$59.3M
$239K 0.1%
85,731
-85,000
-50% -$410K
2020 Q4
5 quarters
GOCO icon
13
DELISTED
GoHealth
GOCO
$186K 0.08%
10,514
-10,333
-50% -$322K
2020 Q4
5 quarters
CCV.WS
14
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
$61K 0.02%
100,000
– –
2021 Q2
3 quarters
CCVI.WS
15
DELISTED
Churchill Capital Corp VI Warrants, each exercisable for one share of Class A common stock at an exercise price of $11.50 per share
CCVI.WS
$50K 0.02%
+80,000
New +$60.4K
2022 Q1
0 quarters
CVIIU icon
16
DELISTED
Churchill Capital Corp VII Units
CVIIU
$48K 0.02%
80,000
-320,000
-80% -$3.16M
2021 Q1
4 quarters
SKIL.WS icon
17
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
$39K 0.02%
33,332
– –
2021 Q2
3 quarters
SPY icon
18
PUT
State Street SPDR S&P 500 ETF Trust
SPY
$812B
$11K ﹤0.01%
+27,000
New +$12M
2022 Q1
0 quarters
BMRN icon
19
BioMarin Pharmaceuticals
BMRN
$10.7B
– –
-30,850
Closed -$2.73M –
CHX icon
20
DELISTED
ChampionX
CHX
– –
-58,850
Closed -$1.19M –
EHTH icon
21
eHealth
EHTH
$19.6M
– –
-9,737
Closed -$248K –
LVLU icon
22
Lulu's Fashion Lounge
LVLU
$39M
– –
-1,600
Closed -$246K –
LVS icon
23
Las Vegas Sands
LVS
$24B
– –
-40,750
Closed -$1.53M –
QQQ icon
24
PUT
Invesco QQQ Trust
QQQ
$487B
– –
-91,500
Closed -$189K –
CTEV icon
25
Claritev Corp
CTEV
$403M
– –
-4,003
Closed -$709K –
1
2

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Birch Grove Capital's Q1 2022 Portfolio in Review

As of Q1 2022, Birch Grove Capital held 47 positions worth $245M, up 11% from $221M the previous quarter. Its ten largest holdings account for 62% of the portfolio.

Birch Grove Capital withdrew a net $156M in Q1 2022, closing 9 positions and reducing 5 holdings. Its most notable exit was Churchill Capital Corp VI Units, each consisting of one share of Class A common stock, and one-fifth of one redeemable warrant, an estimated $3.98M position sold in full.

By sector, the portfolio is most concentrated in Miscellaneous at 87% of assets, up from 83% a quarter earlier, followed by Communication Services and Healthcare.

Against the trend, Birch Grove Capital opened a new position in Starry Group Holdings, Inc. worth $8.65M.

  • Birch Grove Capital's largest Q1 2022 buy was Starry Group Holdings, Inc.: 757,412 shares worth $8.65M.
  • Birch Grove Capital added most to Kaman Corp in Q1 2022, an estimated $987K increase.
  • Birch Grove Capital's biggest Q1 2022 reduction was Churchill Capital Corp VII Units, cutting an estimated $3.16M.
  • Birch Grove Capital fully exited Churchill Capital Corp VI Units, each consisting of one share of Class A common stock, and one-fifth of one redeemable warrant in Q1 2022, selling an estimated $3.98M.
  • Birch Grove Capital's ten largest holdings make up 62% of its $245M portfolio in Q1 2022.
  • Birch Grove Capital opened 3 new positions and closed 9 in Q1 2022.
  • Birch Grove Capital's portfolio value rose 11% quarter-over-quarter to $245M.

Based on Birch Grove Capital's 13F filing for Q1 2022, filed 17 May 2022.