Birch Grove Capital LP
Follow13F filer, CIK 1652355, New York, NY
Birch Grove Capital LP reported $110,405,741 across 18 holdings for the quarter ended 2023-03-31, in a 13F-HR filed 2023-05-15. Its ten largest share positions make up 95.32% of the portfolio.
Filed (acceptance time not in the bulk data set), ingested 13F-HR 0000950142-23-001446
- Period
- 2023-03-31
- Reported value
- $110M
- Holdings
- 18
- Top 10 weight
- 95.32%
- New
- 1
- Sold out
- 18
Largest buys vs the previous quarter
None.
Largest sells vs the previous quarter
| Security | Shares change | Approx. value |
|---|---|---|
| SPRexited | -72,820 | -$2.16M |
| BCOexited | -37,873 | -$2.03M |
| KAMAN CORP-CLASS Aexited | -46,124 | -$1.03M |
| MULTIPLAN CORPORATIONexited | -202,115 | -$232K |
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, Q1 2023
Share positions as resolved from 13F-HR 0000950142-23-001446, largest first. % of portfolio is the value over $108,956,820, the sum of the share positions whose value is usable for ratios (method).
| Security | History | Shares | Value | % of portfolio | Change | Latest event | Timeline |
|---|---|---|---|---|---|---|---|
| NOTVINOTIV INC | 296,097 | $2.15M | 1.97% | 0 | Timeline | ||
| CHURCHILL CAPITAL CORP VCHURCHILL CAPITAL CORP V | 100,000 | $15K | 0.01% | 0 | |||
| CHURCHILL CAPITAL CORP VIICHURCHILL CAPITAL CORP VII | 80,000 | $9.8K | 0.01% | 0 | |||
| CHURCHILL CAPITAL CORP VICHURCHILL CAPITAL CORP VI | 80,000 | $9.04K | 0.01% | 0 | |||
| MULTIPLAN CORPORATIONMULTIPLAN CORPORATION | 75,000 | $6.75K | 0.01% | 0 | |||
| SKILLSOFT CORPSKILLSOFT CORP | 33,332 | $5.75K | 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).
| Security | Type | Amount | Value | Change |
|---|---|---|---|---|
| SPYSTATE STR SPDR S&P 500 ETF T SHS | put | 2,265 | $1.45M | new |
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 | 25,576,000 | $21M | -5,301,000 |
| JAZZ INVESTMENTS I LTDJAZZ INVESTMENTS I LTD NOTE 1.500% 8/1 | principal | 16,100,000 | $15.6M | 0 |
| JETBLUE AIRWAYS CORPJETBLUE AIRWAYS CORP NOTE 0.500% 4/0 | principal | 17,250,000 | $13.4M | 0 |
| MITEK SYS INCMITEK SYS INC NOTE 0.750% 2/0 | principal | 16,216,000 | $13.4M | 0 |
| SPLUNK INCSPLUNK INC NOTE 1.125% 6/1 | principal | 13,054,000 | $11.2M | 0 |
| KARYOPHARM THERAPEUTICS INCKARYOPHARM THERAPEUTICS INC BOND | principal | 10,000,000 | $7.82M | 0 |
| KAMAN CORPKAMAN CORP BOND | principal | 7,725,000 | $7.3M | -9,305,000 |
| THE REALREAL INCTHE REALREAL INC CNV | principal | 20,218,000 | $6.87M | 0 |
| MAGNITE INCMAGNITE INC NOTE 0.250% 3/1 | principal | 5,000,000 | $4.03M | -10,500,000 |
| 8X8 INC NEW8X8 INC NEW BOND | principal | 3,500,000 | $3.23M | 0 |
| SPLUNK INCSPLUNK INC BOND | principal | 3,000,000 | $2.91M | 0 |
Sold out in Q1 2023
Positions in the previous quarter's report that this quarter's report no longer lists.
| Security | Shares before | Value before | Type |
|---|---|---|---|
| UBER TECHNOLOGIES INCUBER TECHNOLOGIES INC | 16,500,000 | $14M | principal |
| SPOTIFY USA INCSPOTIFY USA INC | 16,400,000 | $13.3M | principal |
| RINGCENTRAL INCRINGCENTRAL INC | 11,000,000 | $8.65M | principal |
| HERBALIFE NUTRITION LTDHERBALIFE NUTRITION LTD | 8,410,000 | $7.77M | principal |
| NUVASIVE INCNUVASIVE INC | 8,030,000 | $7.03M | principal |
| NUVASIVE INCNUVASIVE INC | 4,500,000 | $4.41M | principal |
| THE REALREAL INCTHE REALREAL INC | 5,000,000 | $3.11M | principal |
| LYFT INCLYFT INC | 3,500,000 | $3.09M | principal |
| SPRSPIRIT AEROSYSTEMS HLDGS INC | 72,820 | $2.16M | shares |
| BCOBRINKS CO | 37,873 | $2.03M | shares |
| OKTA INCOKTA INC | 2,150,000 | $1.82M | principal |
| OKTA INCOKTA INC | 1,500,000 | $1.33M | principal |
| QQQINVESCO QQQ TR | 175,000 | $1.09M | put |
| KAMAN CORP-CLASS AKAMAN CORP-CLASS A | 46,124 | $1.03M | shares |
| RINGCENTRAL INCRINGCENTRAL INC | 1,000,000 | $865K | principal |
| HYGISHARES TR | 800,000 | $452K | put |
| IWMISHARES TR | 155,000 | $377K | put |
| MULTIPLAN CORPORATIONMULTIPLAN CORPORATION | 202,115 | $232K | shares |
How Q1 2023 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 0000950142-23-001446 | base | 2023-05-15 | acceptance time not in the bulk data set | ||
| 13F-HR/A 0000950142-23-001502 | added | new holdings | 2023-05-22 | acceptance time not in the bulk data set |