BRC Group Holdings, Inc. INFORMATION TABLE, Q1 FY2026

Business Context and Reporting Period

This filing is a Form 13F Information Table submitted by BRC Group Holdings, Inc. to the U.S. Securities and Exchange Commission. The report covers the period ending March 31, 2026. It discloses the company's holdings in equity securities and other investment instruments as of the reporting date.

Key Financial Metrics and Portfolio Composition

The filing details a portfolio of 21 distinct positions, primarily consisting of common stock, American Depositary Shares (ADS), and warrants. The total aggregate value of the reported holdings is approximately $467.5 million.

IssuerSecurity TypeShares/UnitsValue (USD)Voting Authority
Babcock & Wilcox Enterprises, Inc.Common Stock27,446,522$403,189,408Sole
Doubledown Interactive Co., Ltd.ADS3,467,509$29,300,451Sole
Sequans Communications S.A.Sponsored ADS1,757,340$4,446,070Sole
Riot Platforms, Inc.Common Stock325,000$4,017,000Sole
Roman DBDR Acquisition Corp IIOrdinary Shares Class A605,913$3,171,955Sole
LifeMD, Inc.Common Stock871,580$3,146,404Sole
The Oncology Institute, Inc.Common Stock929,734$2,854,283Sole
Transact Technologies IncorporatedCommon Stock545,812$1,795,721Sole
Dave Inc.Common Stock7,000$1,218,630Sole
Ur-Energy Inc.Common Stock600,000$894,000Sole
NextNav Inc.Common Stock50,000$801,000Sole
XBP Global Holdings, Inc.Common Stock73,657$324,091Sole
OTG Acquisition Corp. IOrdinary Shares Class A115,000$235,520Sole
Mister Car Wash, Inc.Common Stock30,000$209,100Sole
Blaise Holdings, Inc.Common Stock83,353$151,702Sole
NextNav Inc.Warrants21,000$132,930Sole
Stardust Power Inc.Common Stock42,122$99,408Sole
Diversified Healthcare TrustCommon Stock10,000$66,400Sole
GCT Semiconductor Holding, Inc.Common Stock56,818$64,773Sole
Royalty Management Holding Corp.Class A Common Stock20,000$59,400Sole
Xerox Holdings CorporationNote200,000$53,320Sole

Note: All positions listed have "Sole" voting authority. No "Shared" or "None" voting authority was reported for these specific holdings.

Material Changes

The filing text provided does not contain comparative data from the prior quarter (December 31, 2025). Therefore, material changes in position size, new acquisitions, or divestitures cannot be determined from this document alone.

Guidance, Outlook, and Risks

This Form 13F is a statutory disclosure of holdings and does not contain management commentary, financial guidance, or forward-looking statements regarding the company's future performance. The filing includes a standard disclaimer that the SEC has not reviewed the information for accuracy or completeness.

Key Facts for Investor Verification

  • Concentration Risk: The portfolio is heavily concentrated in a single position, Babcock & Wilcox Enterprises, Inc., which represents approximately 86.2% of the total reported value ($403.2M of $467.5M).
  • Asset Class: The portfolio is predominantly equity-based, with one fixed-income instrument (Xerox Holdings Corporation Note) and one warrant position (NextNav Inc.).
  • Reporting Date: Verify that the March 31, 2026, date aligns with the company's fiscal calendar and expected filing deadlines.
  • Voting Control: BRC Group Holdings, Inc. exercises sole voting authority over all reported positions, indicating direct control without shared management agreements for these specific assets.