SEC 13F Intelligence

Managers / Q1 2019 · view latest →

Birch Grove Capital LP

CIK 0001652355 · 590 MADISON AVENUE, 38TH FLOOR, NEW YORK, NY, 10022 · 212-753-7510

Reported Value
$166M
Q1 2019
Positions
23
Filings on Record
26
2019–present window
Filed
May 15, 2019
original filing

Summary

Birch Grove Capital LP reported $166M in U.S.-listed holdings across 23 positions for Q1 2019.

Its largest position, Nuance Communications, represents 16.6% of the portfolio.

Compared with Q4 2018, the fund opened 6 new positions and exited 12.

Portfolio Metrics

Turnover
+16.2%
vs prior filed quarter
Top-10 Concentration
+90.5%
share of reported value
Largest Position
+16.6%
Nuance Communications
New / Exited
6 / 12
positions this quarter

Methodology: turnover is min(value bought, value sold) ÷ average reported value across the two quarters — value-based, so market moves inflate it slightly versus a share-based measure. Concentration and largest position are shares of the filing’s total reported value, options excluded, with multiple share classes and repeated sub-manager rows for the same issuer combined into one position — the same rule the holdings table uses by default. New/exited counts compare against the prior filed quarter. All figures derive solely from the fund’s 13F filings.

Reported Value by Quarter

13F Reported Value
Q4 ’18: $222MQ4 ’18Q1 ’19: $166MQ2 ’19: $131MQ3 ’19: $135MQ3 ’19Q4 ’19: $81MQ1 ’20: $70MQ2 ’20: $121MQ2 ’20Q3 ’20: $185MQ4 ’20: $192MQ1 ’21: $230MQ1 ’21Q2 ’21: $206MQ3 ’21: $212MQ4 ’21: $221MQ4 ’21Q1 ’22: $245MQ2 ’22: $252MQ3 ’22: $256MQ3 ’22Q4 ’22: $202MQ1 ’23: $110MQ2 ’23: $68MQ2 ’23Q3 ’23: $57MQ4 ’23: $23MQ1 ’24: $13MQ1 ’24Q2 ’24: $10MQ3 ’24: $10Mfilingsflow.com

Portfolio Composition

By security type
US DOMESTIC: 87.6%Other: 7.1%Common Stock: 5.2%Closed-End Fund: 0.1%
  • US DOMESTIC · 87.6% · $145M
  • Other · 7.1% · $12M
  • Common Stock · 5.2% · $9M
  • Closed-End Fund · 0.1% · $113,000

Quarter-over-Quarter Changes full breakdown →

vs Q4 2018 (amended baseline)

IssuerMoveShare ΔShares nowValue ΔValue now
EVOLENT HEALTH INCNEW+15.72M15.72M+$15M$15M
TAT&T INCNEW+800.0K800.0K+$226,000$226,000
EXPEEXPEDIA GROUP INCNEW+50.0K50.0K+$145,000$145,000
ECCEAGLE PT CR CO LLCNEW+6.8K6.8K+$113,000$113,000
GOODRICH PETE CORPNEW+1.2K1.2K+$16,000$16,000
DIPOLOMAT PHARMACY INCNEW+300.0K300.0K+$15,000$15,000
UNITI GROUP INCADDED+445.2K685.6K+$10,000$22,000
AKAMAI TECHNOLOGIES INCSOLD OUT−22.84M0−$23M$0

Value changes conflate price moves with buying and selling — share changes are the real signal. Share counts are not split-adjusted.

Holdings — Q1 2019

15 positions
Export to Excel
#IssuerClass% PortfolioValue ↓Shares
1NUANCE COMMUNICATIONS INCDEBT 1.500% 11/016.55%$27M27.53M
2JAZZ INVESTMENTS I LTDNOTE 1.875% 8/111.70%$19M19.10M
3CALAMP CORPNOTE 1.625% 5/19.52%$16M16.22M
4EVOLENT HEALTH INCNOTE 2.000% 12/09.19%$15M15.72M
5AVID TECHNOLOGY INCNOTE 2.000% 6/19.01%$15M15.70M
6ALLSCRIPTS HEALTHCARE SOLUTNNOTE 1.250% 7/08.33%$14M14.10M
7INDEPENDENCE CONTRACT DRILLINGCOM7.10%$12M4.25M
8GOLAR LNG LTDNOTE 2.750% 2/17.06%$12M12.24M
9RTI INTL METALS INCNOTE 1.625% 10/16.56%$11M11.00M
10CARDTRONICS PLCNOTE 1.000% 12/05.44%$9M9.10M
11KNOWLES CORPNOTE 3.250% 11/04.22%$7M5.96M
12EVERI HLDGS INCCOM3.09%$5M488.0K
13J ALEXANDERS HLDGS INCCOM1.22%$2M205.7K
14ECCEAGLE PT CR CO LLCCOM0.07%$113,0006.8K
15GOODRICH PETE CORPCOM PAR0.01%$16,0001.2K

Filing History

QuarterReported ValuePositionsFiledTypeLinks
Q3 2024$10M3Nov 14, 202413F-HRchanges · EDGAR ↗
Q2 2024$10M4Aug 14, 202413F-HRchanges · EDGAR ↗
Q1 2024$13M6May 15, 202413F-HRchanges · EDGAR ↗
Q4 2023$23M9Feb 14, 202413F-HRchanges · EDGAR ↗
Q3 2023$57M12Nov 14, 202313F-HRchanges · EDGAR ↗
Q2 2023$68M13Aug 14, 202313F-HRchanges · EDGAR ↗
Q1 2023REVEALED$110M20May 15, 202313F-HRchanges · EDGAR ↗
Q4 2022$202M33Feb 14, 202313F-HRchanges · EDGAR ↗
Q3 2022$256M41Nov 14, 202213F-HRchanges · EDGAR ↗
Q2 2022$252M41Aug 15, 202213F-HRchanges · EDGAR ↗
Q1 2022$245M38May 17, 202213F-HRchanges · EDGAR ↗
Q4 2021$221M47Feb 14, 202213F-HRchanges · EDGAR ↗
Q3 2021$212M52Nov 15, 202113F-HRchanges · EDGAR ↗
Q2 2021$206M46Aug 16, 202113F-HRchanges · EDGAR ↗
Q1 2021$230M50May 17, 202113F-HRchanges · EDGAR ↗
Q4 2020$192M40Feb 16, 202113F-HRchanges · EDGAR ↗
Q3 2020$185M46Nov 16, 202013F-HRchanges · EDGAR ↗
Q2 2020$121M43Aug 14, 202013F-HRchanges · EDGAR ↗
Q1 2020$70M13May 15, 202013F-HRchanges · EDGAR ↗
Q4 2019$81M16Feb 14, 202013F-HRchanges · EDGAR ↗
Q3 2019$135M29Nov 14, 201913F-HRchanges · EDGAR ↗
Q2 2019$131M13Aug 14, 201913F-HRchanges · EDGAR ↗
Q1 2019$166M23May 15, 201913F-HRchanges · EDGAR ↗
Q4 2018$222M28Feb 14, 201913F-HRchanges · EDGAR ↗

13F filings are due up to 45 days after quarter end, so holdings shown here lag the fund’s current book. Source: original SEC filing on EDGAR ↗.