Birch Grove Capital LP
Follow13F filer, CIK 1652355, New York, NY
Birch Grove Capital LP reported $201,773,534 across 35 holdings for the quarter ended 2022-12-31, in a 13F-HR filed 2023-02-14. Its ten largest share positions make up 70.86% of the portfolio.
Filed (acceptance time not in the bulk data set), ingested 13F-HR 0000950142-23-000393
- Period
- 2022-12-31
- Reported value
- $202M
- Holdings
- 35
- Top 10 weight
- 70.86%
- New
- 0
- Sold out
- 6
Largest buys vs the previous quarter
None.
Largest sells vs the previous quarter
| Security | Shares change | Approx. value |
|---|---|---|
| STARRY GROUP HOLDINGS INCexited | -670,939 | -$6.17M |
| CHAMPIONX CORPORATIONexited | -77,350 | -$1.51M |
| KAMAN CORP-CLASS Areduced | -17,750 | -$396K |
Ranked by the share change valued at this quarter's implied price (value over shares in the 13F). A position sold out is valued at the previous quarter's price, its last report.
Holdings, Q4 2022
Share positions as resolved from 13F-HR 0000950142-23-000393, largest first. % of portfolio is the value over $199,857,259, the sum of the share positions whose value is usable for ratios (method).
| Security | History | Shares | Value | % of portfolio | Change | Latest event | Timeline |
|---|---|---|---|---|---|---|---|
| SPRSPIRIT AEROSYSTEMS HLDGS INC | 72,820 | $2.16M | 1.08% | 0 | Timeline | ||
| BCOBRINKS CO | 37,873 | $2.03M | 1.02% | 0 | Timeline | ||
| NOTVINOTIV INC | 296,097 | $1.46M | 0.73% | 0 | Timeline | ||
| KAMAN CORP-CLASS AKAMAN CORP-CLASS A | 46,124 | $1.03M | 0.51% | -17,750 | |||
| MULTIPLAN CORPORATIONMULTIPLAN CORPORATION | 202,115 | $232K | 0.12% | 0 | |||
| CHURCHILL CAPITAL CORP VICHURCHILL CAPITAL CORP VI | 80,000 | $5.69K | <0.01% | 0 | |||
| SKILLSOFT CORPSKILLSOFT CORP | 33,332 | $4.23K | <0.01% | 0 | |||
| MULTIPLAN CORPORATIONMULTIPLAN CORPORATION | 75,000 | $3.75K | <0.01% | 0 | |||
| CHURCHILL CAPITAL CORP VIICHURCHILL CAPITAL CORP VII | 80,000 | $2.64K | <0.01% | 0 | |||
| CHURCHILL CAPITAL CORP VCHURCHILL CAPITAL CORP V | 100,000 | $2K | <0.01% | 0 |
Options
Puts and calls, as filed. The amount and value describe the underlying shares, not the option premium, so they stay out of % of portfolio (H5).
Principal amounts
Notes and convertibles filed as a face amount (PRN). A face amount is never added to a share count (H6).
| Security | Type | Amount | Value | Change |
|---|---|---|---|---|
| TABULA RASA HEALTHCARE INCTABULA RASA HEALTHCARE INC NOTE | principal | 30,877,000 | $24.6M | -500,000 |
| KAMAN CORPKAMAN CORP BOND | principal | 17,030,000 | $16M | 0 |
| JAZZ INVESTMENTS I LTDJAZZ INVESTMENTS I LTD NOTE 1.500% 8/1 | principal | 16,100,000 | $15.9M | 0 |
| UBER TECHNOLOGIES INCUBER TECHNOLOGIES INC NOTE 12/1 | principal | 16,500,000 | $14M | 0 |
| MITEK SYS INCMITEK SYS INC NOTE 0.750% 2/0 | principal | 16,216,000 | $13.4M | +683,000 |
| SPOTIFY USA INCSPOTIFY USA INC NOTE 3/1 | principal | 16,400,000 | $13.3M | 0 |
| JETBLUE AIRWAYS CORPJETBLUE AIRWAYS CORP NOTE 0.500% 4/0 | principal | 17,250,000 | $12.7M | +750,000 |
| MAGNITE INCMAGNITE INC NOTE 0.250% 3/1 | principal | 15,500,000 | $12M | 0 |
| SPLUNK INCSPLUNK INC NOTE 1.125% 6/1 | principal | 13,054,000 | $11.1M | 0 |
| RINGCENTRAL INCRINGCENTRAL INC NOTE 3/1 | principal | 11,000,000 | $8.65M | 0 |
| THE REALREAL INCTHE REALREAL INC CNV | principal | 20,218,000 | $8.15M | 0 |
| HERBALIFE NUTRITION LTDHERBALIFE NUTRITION LTD NOTE 2.625% 3/1 | principal | 8,410,000 | $7.77M | -14,140,000 |
| KARYOPHARM THERAPEUTICS INCKARYOPHARM THERAPEUTICS INC BOND | principal | 10,000,000 | $7.75M | 0 |
| NUVASIVE INCNUVASIVE INC NOTE 0.375% 3/1 | principal | 8,030,000 | $7.03M | 0 |
| NUVASIVE INCNUVASIVE INC BOND | principal | 4,500,000 | $4.41M | -3,500,000 |
| 8X8 INC NEW8X8 INC NEW BOND | principal | 3,500,000 | $3.16M | +1,000,000 |
| THE REALREAL INCTHE REALREAL INC NOTE 3.000% 6/1 | principal | 5,000,000 | $3.11M | 0 |
| LYFT INCLYFT INC NOTE 1.500% 5/1 | principal | 3,500,000 | $3.09M | +1,500,000 |
| SPLUNK INCSPLUNK INC BOND | principal | 3,000,000 | $2.84M | 0 |
| OKTA INCOKTA INC NOTE 0.375% 6/1 | principal | 2,150,000 | $1.82M | +500,000 |
| OKTA INCOKTA INC NOTE 0.125% 9/0 | principal | 1,500,000 | $1.33M | +1,000,000 |
| RINGCENTRAL INCRINGCENTRAL INC NOTE 3/0 | principal | 1,000,000 | $865K | 0 |
Sold out in Q4 2022
Positions in the previous quarter's report that this quarter's report no longer lists.
| Security | Shares before | Value before | Type |
|---|---|---|---|
| AERIE PHARMACEUTICALS INCAERIE PHARMACEUTICALS INC | 9,100,000 | $8.94M | principal |
| STARRY GROUP HOLDINGS INCSTARRY GROUP HOLDINGS INC | 670,939 | $6.17M | shares |
| 1LIFE HEALTHCARE INC1LIFE HEALTHCARE INC | 6,000,000 | $5.84M | principal |
| PRECIGEN INCPRECIGEN INC | 4,500,000 | $4.41M | principal |
| EVOLENT HEALTH INCEVOLENT HEALTH INC | 1,050,000 | $2.16M | principal |
| CHAMPIONX CORPORATIONCHAMPIONX CORPORATION | 77,350 | $1.51M | shares |
How Q4 2022 was built
Available 13F filings of this filer for the quarter and their roles: the base report is the latest original or restatement, NEW HOLDINGS amendments filed after it are added (method).
| Filing | Role | Amendment | Filed | Accepted | Ingested |
|---|---|---|---|---|---|
| 13F-HR 0000950142-23-000393 | base | 2023-02-14 | acceptance time not in the bulk data set | ||
| 13F-HR/A 0000950142-23-001501 | added | new holdings | 2023-05-22 | acceptance time not in the bulk data set |