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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
-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

Top Buys

Rank Stock Value
1
STRY
Starry Group Holdings, Inc.
STRY
+$6.54M
2
KAMN
Kaman Corp
KAMN
+$987K
3
DHT icon
DHT Holdings
DHT
+$827K
4
OI icon
O-I Glass
OI
+$205K
5
MPLN.WS
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
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
STRY
1
DELISTED
Starry Group Holdings, Inc.
STRY
$8.65M 3.53%
+757,412
New +$6.54M
NOTV
2
DELISTED
Inotiv
NOTV
$7.75M 3.17%
296,097
– –
DHT icon
3
DHT Holdings
DHT
$3.12B
$2.89M 1.18%
498,478
+150,200
+43% +$827K
SPR
4
DELISTED
Spirit AeroSystems
SPR
$2.82M 1.15%
57,720
-12,500
-18% -$585K
KAMN
5
DELISTED
Kaman Corp
KAMN
$2.78M 1.13%
63,874
+23,300
+57% +$987K
BCO icon
6
Brink's
BCO
$4.51B
$2.58M 1.05%
37,873
– –
OI icon
7
O-I Glass
OI
$1.1B
$2.42M 0.99%
183,200
+15,750
+9% +$205K
IWM icon
8
PUT
iShares Russell 2000 ETF
IWM
$81.9B
$856K 0.35%
161,000
-36,800
-19% -$7.51M
MPLN.WS
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
HYG icon
10
PUT
iShares iBoxx $ High Yield Corporate Bond ETF
HYG
$17.6B
$749K 0.31%
710,000
+304,500
+75% +$25.5M
RDUS
11
DELISTED
Radius Health, Inc.
RDUS
$446K 0.18%
50,532
– –
SLQT icon
12
SelectQuote
SLQT
$95.6M
$239K 0.1%
85,731
-85,000
-50% -$410K
GOCO
13
DELISTED
GoHealth
GOCO
$186K 0.08%
10,514
-10,333
-50% -$322K
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
– –
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
CVIIU
16
DELISTED
Churchill Capital Corp VII Units
CVIIU
$48K 0.02%
80,000
-320,000
-80% -$3.16M
SKIL.WS
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
– –
SPY icon
18
PUT
State Street SPDR S&P 500 ETF Trust
SPY
$827B
$11K ﹤0.01%
+27,000
New +$12M
BMRN icon
19
BioMarin Pharmaceuticals
BMRN
$12.6B
– –
-30,850
Closed -$2.73M
CHX
20
DELISTED
ChampionX
CHX
– –
-58,850
Closed -$1.19M
EHTH icon
21
eHealth
EHTH
$37.2M
– –
-9,737
Closed -$248K
LVLU icon
22
Lulu's Fashion Lounge
LVLU
$38.8M
– –
-1,600
Closed -$246K
LVS icon
23
Las Vegas Sands
LVS
$28.5B
– –
-40,750
Closed -$1.53M
QQQ icon
24
PUT
Invesco QQQ Trust
QQQ
$493B
– –
-91,500
Closed -$189K
CTEV
25
Claritev Corp
CTEV
$649M
– –
-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.