SEC Filing Summary: BRC Group Holdings, Inc.
Business Context and Reporting Period
This filing is a Form 13F Information Table submitted by BRC Group Holdings, Inc. for the reporting period ending September 30, 2025. The document discloses the company's holdings of U.S. equity securities and certain other reportable assets as of the period end. It does not contain operational financial statements for BRC Group Holdings itself.
Key Financial Metrics and Portfolio Composition
The filing details a portfolio of 25 distinct positions with a total reported value of approximately $144.5 million. The portfolio is heavily concentrated in a few key issuers:
- Babcock & Wilcox Enterprises, Inc.: Largest holding with a value of $79,594,914 (27,446,522 shares).
- Doubledown Interactive Co., Ltd.: Second largest holding valued at $32,227,698 (3,450,503 ADS).
- Applied Digital Corporation: Valued at $11,355,300 (495,000 shares).
- Sequans Communications S.A.: Valued at $7,574,546 (800,692 ADS).
The portfolio includes common stock, American Depositary Shares (ADS), units, and debt instruments (e.g., Beyond Meat, Inc. zero coupon bond; 8x8, Inc. note). All reported voting authority is classified as Sole discretion.
Material Changes
The filing text provided is a static snapshot of holdings as of September 30, 2025. It does not provide comparative data against the prior quarter (June 30, 2025) or prior year periods. Consequently, material changes in position size, new acquisitions, or divestitures cannot be determined from this document alone.
Guidance, Outlook, and Risks
This Form 13F filing does not contain management commentary, forward-looking guidance, risk factors, or contingency disclosures regarding BRC Group Holdings' future strategy or financial outlook. The document is strictly a regulatory disclosure of current asset ownership.
Investor Verification Checklist
- Verify the total portfolio value and concentration risk, noting that the top two holdings (Babcock & Wilcox and Doubledown Interactive) represent over 75% of the reported value.
- Confirm the specific nature of the "PRN" (Principal Amount) entries for debt holdings like Beyond Meat and 8x8 to understand the difference between face value and market value.
- Review prior quarter 13F filings to calculate actual turnover and trading activity, as this filing lacks historical comparison data.
- Investigate the "DFND" (Discretionary) status to confirm BRC Group's level of control over these assets.