Managers / Q3 2023 · view latest →
Birch Grove Capital LP
CIK 0001652355 · 590 MADISON AVENUE, 38TH FLOOR, NEW YORK, NY, 10022 · 212-753-7510
Summary
Birch Grove Capital LP reported $57M in U.S.-listed holdings across 12 positions for Q3 2023.
The portfolio is heavily concentrated: Tabula Rasa Healthcare alone accounts for 43.7% of reported value.
Compared with Q2 2023, the fund opened 0 new positions and exited 1.
Portfolio Metrics
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
Portfolio Composition
- US DOMESTIC · 99.9% · $57M
- Other · 0.1% · $67,916
- ETP · 0.0% · $8,460
Quarter-over-Quarter Changes full breakdown →
vs Q2 2023 (amended baseline)
| Issuer | Move | Share Δ | Shares now | Value Δ | Value now |
|---|---|---|---|---|---|
| SPYSPDR S&P 500 ETF TR | ADDED | +397.9K | 399.0K | +$4,699 | $8,460 |
| NOTVQINOTIV INC | SOLD OUT | −296.1K | 0 | −$2M | $0 |
| JAZZ INVESTMENTS I LTD | TRIMMED | −9.00M | 7.10M | −$8M | $7M |
| THE REALREAL INC | TRIMMED | −10.00M | 8.22M | −$4M | $4M |
| TABULA RASA HEALTHCARE INC | HELD | +0 | 25.58M | +$3M | $25M |
| MITEK SYS INC | HELD | +0 | 16.22M | +$525,025 | $14M |
| KARYOPHARM THERAPEUTICS INC | HELD | +0 | 8.00M | −$185,000 | $5M |
| 8X8 INC NEW | HELD | +0 | 2.50M | −$53,875 | $2M |
Value changes conflate price moves with buying and selling — share changes are the real signal. Share counts are not split-adjusted.
Holdings — Q3 2023
| # | Issuer | Class | % Portfolio | Value ↓ | Shares |
|---|---|---|---|---|---|
| 1 | TABULA RASA HEALTHCARE INC | NOTE 1.750% 2/1 | 43.68% | $25M | 25.58M |
| 2 | MITEK SYS INC | NOTE 0.750% 2/0 | 24.69% | $14M | 16.22M |
| 3 | JAZZ INVESTMENTS I LTD | NOTE 1.500% 8/1 | 11.95% | $7M | 7.10M |
| 4 | KARYOPHARM THERAPEUTICS INC | NOTE 3.000% 10/1 | 9.09% | $5M | 8.00M |
| 5 | THE REALREAL INC | NOTE 1.000% 3/0 | 6.39% | $4M | 8.22M |
| 6 | 8X8 INC NEW | NOTE 0.500% 2/0 | 4.07% | $2M | 2.50M |
| 7 | CHURCHILL CAPITAL CORP VII | *W EXP 02/29/202 | 0.04% | $24,640 | 80.0K |
| 8 | CHURCHILL CAPITAL CORP V | *W EXP 10/29/202 | 0.03% | $20,010 | 100.0K |
| 9 | CHURCHILL CAPITAL CORP VI | *W EXP 02/17/202 | 0.02% | $12,800 | 80.0K |
| 10 | MULTIPLAN CORPORATION | *W EXP 02/13/202 | 0.01% | $7,800 | 75.0K |
| 11 | SKILLSOFT CORP | *W EXP 06/11/202 | 0.00% | $2,666 | 33.3K |
Filing History
| Quarter | Reported Value | Positions | Filed | Type | Links |
|---|---|---|---|---|---|
| Q3 2024 | $10M | 3 | Nov 14, 2024 | 13F-HR | changes · EDGAR ↗ |
| Q2 2024 | $10M | 4 | Aug 14, 2024 | 13F-HR | changes · EDGAR ↗ |
| Q1 2024 | $13M | 6 | May 15, 2024 | 13F-HR | changes · EDGAR ↗ |
| Q4 2023 | $23M | 9 | Feb 14, 2024 | 13F-HR | changes · EDGAR ↗ |
| Q3 2023 | $57M | 12 | Nov 14, 2023 | 13F-HR | changes · EDGAR ↗ |
| Q2 2023 | $68M | 13 | Aug 14, 2023 | 13F-HR | changes · EDGAR ↗ |
| Q1 2023REVEALED | $110M | 20 | May 15, 2023 | 13F-HR | changes · EDGAR ↗ |
| Q4 2022 | $202M | 33 | Feb 14, 2023 | 13F-HR | changes · EDGAR ↗ |
| Q3 2022 | $256M | 41 | Nov 14, 2022 | 13F-HR | changes · EDGAR ↗ |
| Q2 2022 | $252M | 41 | Aug 15, 2022 | 13F-HR | changes · EDGAR ↗ |
| Q1 2022 | $245M | 38 | May 17, 2022 | 13F-HR | changes · EDGAR ↗ |
| Q4 2021 | $221M | 47 | Feb 14, 2022 | 13F-HR | changes · EDGAR ↗ |
| Q3 2021 | $212M | 52 | Nov 15, 2021 | 13F-HR | changes · EDGAR ↗ |
| Q2 2021 | $206M | 46 | Aug 16, 2021 | 13F-HR | changes · EDGAR ↗ |
| Q1 2021 | $230M | 50 | May 17, 2021 | 13F-HR | changes · EDGAR ↗ |
| Q4 2020 | $192M | 40 | Feb 16, 2021 | 13F-HR | changes · EDGAR ↗ |
| Q3 2020 | $185M | 46 | Nov 16, 2020 | 13F-HR | changes · EDGAR ↗ |
| Q2 2020 | $121M | 43 | Aug 14, 2020 | 13F-HR | changes · EDGAR ↗ |
| Q1 2020 | $70M | 13 | May 15, 2020 | 13F-HR | changes · EDGAR ↗ |
| Q4 2019 | $81M | 16 | Feb 14, 2020 | 13F-HR | changes · EDGAR ↗ |
| Q3 2019 | $135M | 29 | Nov 14, 2019 | 13F-HR | changes · EDGAR ↗ |
| Q2 2019 | $131M | 13 | Aug 14, 2019 | 13F-HR | changes · EDGAR ↗ |
| Q1 2019 | $166M | 23 | May 15, 2019 | 13F-HR | changes · EDGAR ↗ |
| Q4 2018 | $222M | 28 | Feb 14, 2019 | 13F-HR | changes · 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 ↗.