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 June 30, 2025. The document discloses the investment manager's holdings in equity securities and certain other instruments as required by the Securities and Exchange Commission.
Key Financial Metrics and Portfolio Composition
The filing details a portfolio of 39 distinct positions. The total aggregate value of the reported holdings is approximately $115.5 million (sum of Column 5 values). The portfolio is heavily concentrated in a few key positions:
- Doubledown Interactive Co., Ltd. (ADS): $34,514,856 (approx. 30% of reported value)
- Babcock & Wilcox Enterprises, Inc. (COM): $26,406,299 (approx. 23% of reported value)
- Bit Digital, Inc. (SHS): $6,391,489
- Transact Technologies Incorporated (PUT): $3,391,923
- Direxion Daily S&P 500 Bull 3X Shares (ETF): $2,814,000
The portfolio includes a mix of common stocks, American Depositary Shares (ADS), Exchange Traded Funds (ETFs), and debt instruments (notes). Notable debt holdings include $1,500,000 in Beyond Meat, Inc. notes and $150,000 in Fiverr International Ltd. notes.
Material Changes and Voting Authority
The filing text does not provide comparative data for the prior quarter; therefore, material changes in position size or value versus the prior period cannot be determined from this document alone. All reported positions list voting authority as Sole (Column 8), with no shared or none authority reported. The investment manager has indicated "DFND" (Discretionary) for all positions.
Outlook, Risks, and Contingencies
As a Form 13F, this document is a statutory disclosure of holdings and does not contain management commentary, forward-looking guidance, or specific risk factors regarding the company's operations. The filing includes a standard disclaimer that the SEC has not reviewed the information for accuracy or completeness.
Key Facts for Investor Verification
- Top Concentration: Verify the valuation and recent performance of Doubledown Interactive and Babcock & Wilcox, which together represent over 50% of the reported portfolio value.
- Derivative Exposure: Confirm the nature and risk profile of the $3.4 million Put position in Transact Technologies.
- Debt Holdings: Review the terms and credit status of the $1.5 million Beyond Meat note and other fixed-income positions.
- Reporting Lag: Note that Form 13F filings are submitted 45 days after the quarter end; the data reflects positions as of June 30, 2025, but may not reflect current market values.