CIK: 0001691170
Total reported value
$309.8M
Reporting period: 2026-03-31 · Number of holdings: 22
Redwood Grove Capital, LLC disclosed 22 holdings in its latest 13F filing for the period ending 2026-03-31, with total reported value of $309.8M and a quarterly turnover rate of 36.1%.
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Redwood Grove Capital, LLC's disclosed holdings carry a Herfindahl concentration index of 0.056 — mathematically equivalent to about 18 equally-sized positions, close to its 22 actual disclosed holdings. Value is spread relatively evenly across the portfolio rather than concentrated in a handful of names.
Position sizes are fairly uniform across the portfolio (a coefficient of variation of 0.48), suggesting a disciplined, rules-based approach to how much capital goes into each idea.
No strong tilt toward either adding to existing winners or initiating outsized new positions was observed in the latest reported quarter.
Trim MRK
-78.5% -$11.1M
Add IQV
+103.7% $5.6M
Trim SNY
-56.8% -$5.2M
Trim HUM
+8.7% -$7.1M
Add SW
+9.2% $2.0M
Trim FSLR
-2.9% -$6.8M
| # | Ticker | Issuer | Asset Subclass | Weight | Weight Change | Shares Change | 4Q Trend |
|---|---|---|---|---|---|---|---|
| 1 | ELAN | Elanco Animal Health INC | Stock-Healthcare | 9.98% | -0.07% | -17.03% | |
| 2 | GOOG | Alphabet Inc-cl C | Stock-Comm Services | 7.56% | -0.21% | -5.99% | |
| 3 | SHLS | Shoals Technologies Group -a | Stock-Other | 6.45% | +0.33% | +20.23% | |
| 4 | HUM | Humana INC | Stock-Healthcare | 6.43% | -1.29% | +8.71% | |
| 5 | FSLR | First Solar INC | Stock-Tech | 6.01% | -1.23% | -2.88% | |
| 6 | SW | Smurfit Westrock Plc | Stock-Consumer Disc | 5.78% | +1.24% | +9.23% | |
| 7 | XYL | Xylem INC | Stock-Industrials | 5.64% | +5.64% | NEW | |
| 8 | IEX | Idex CORP | Stock-Industrials | 5.63% | +0.96% | — | |
| 9 | IQV | Iqvia Holdings INC | Stock-Healthcare | 5.15% | +2.20% | +103.70% | |
| 10 | IFF | Intl Flavors & Fragrances | Stock-Materials | 5.14% | +0.92% | — | |
| 11 | FISV | Fiserv INC | Stock-Other | 4.64% | +1.00% | +35.72% | |
| 12 | QCOM | Qualcomm INC | Stock-Tech | 4.53% | -0.79% | — | |
| 13 | BAC | Bank Of America CORP | Stock-Financials | 3.91% | -0.19% | -4.97% | |
| 14 | AMRC | Ameresco Inc-cl A | Stock-Other | 3.86% | -0.25% | -4.69% | |
| 15 | ICFI | Icf International INC | Stock-Other | 3.82% | +0.21% | +22.12% | |
| 16 | ARRY | Array Technologies INC | Stock-Other | 3.68% | -0.66% | -4.38% | |
| 17 | UCTT | Ultra Clean Holdings INC | Stock-Other | 3.26% | +3.26% | NEW | |
| 18 | GNRC | Generac Holdings INC | Stock-Industrials | 3.11% | -0.05% | -39.44% | |
| 19 | BRO | Brown & Brown INC | Stock-Financials | 2.45% | +0.36% | +26.52% | |
| 20 | SNY | Sanofi-adr | Stock-Healthcare | 1.27% | -1.34% | -56.81% | |
| 21 | MRK | Merck & Co. INC. | Stock-Healthcare | 1.17% | -3.02% | -78.47% | |
| 22 | URI | United Rentals INC | Stock-Industrials | 0.53% | +0.01% | — |
Performance for Q3 2026
+9.1%
Performance Last 4 Quarters
+40.6%
Based on 73% of reported portfolio value with available pricing
| Period | Holdings | Total value | Stability | Top holdings |
|---|---|---|---|---|
| 2026-03-31 | 22 | $309.8M | 36 | |
| 2025-12-31 | 22 | $350.7M | 21 | |
| 2025-09-30 | 21 | $349.4M | 50 | |
| 2025-06-30 | 22 | $301.4M | 0 | |
| 2025-03-31 | 23 | $278.9M | 100 | |
| 2024-12-31 | 23 | $322.9M | 0 | |
| 2024-09-30 | 22 | $368.2M | 0 | |
| 2024-06-30 | 26 | $319.4M | 0 | |
| 2024-03-31 | 27 | $321.0M | 0 | |
| 2023-12-31 | 25 | $270.8M | 0 | |
| 2023-09-30 | 27 | $249.5M | 0 | |
| 2023-06-30 | 27 | $236.3M | 0 | |
| 2023-03-31 | 27 | $210.0M | 0 | |
| 2022-12-31 | 25 | $201.4M | 0 | |
| 2022-09-30 | 26 | $182.1M | 0 | |
| 2022-06-30 | 25 | $183.9M | 0 | |
| 2022-03-31 | 25 | $201.1M | 0 | |
| 2021-12-31 | 24 | $213.2M | 0 | |
| 2021-09-30 | 25 | $175.7M | 0 | |
| 2021-06-30 | 27 | $185.3M | 93 | |
| 2021-03-31 | 23 | $162.3M | 40 | |
| 2020-12-31 | 24 | $137.4M | 0 |
Redwood Grove Capital, LLC's most significant position changes for 2026-03-31: New buy: Xylem INC (XYL); Sold out: Portland General Electric Co (POR); New buy: Ultra Clean Holdings INC (UCTT); Sold out: Paypal Holdings INC (PYPL); Trim: Merck & Co. INC. (MRK) — shares -78.47%.
| # | Ticker | Issuer | Weight Change | Shares Change | Action |
|---|---|---|---|---|---|
| 1 | IQV | Iqvia Holdings INC | +2.2% | +103.70% | Add |
| 2 | SW | Smurfit Westrock Plc | +1.2% | +9.23% | Add |
| 3 | FISV | Fiserv INC | +1% | +35.72% | Add |
| 4 | IEX | Idex CORP | +1% | — | Unchanged |
| 5 | IFF | Intl Flavors & Fragrances | +0.9% | — | Unchanged |
| 6 | BRO | Brown & Brown INC | +0.4% | +26.52% | Add |
| 7 | SHLS | Shoals Technologies Group -a | +0.3% | +20.23% | Add |
| 8 | ICFI | Icf International INC | +0.2% | +22.12% | Add |
| 9 | URI | United Rentals INC | 0% | — | Unchanged |
| 10 | GNRC | Generac Holdings INC | -0.1% | -39.44% | Trim |
| 11 | ELAN | Elanco Animal Health INC | -0.1% | -17.03% | Trim |
| 12 | BAC | Bank Of America CORP | -0.2% | -4.97% | Trim |
| 13 | GOOG | Alphabet Inc-cl C | -0.2% | -5.99% | Trim |
| 14 | AMRC | Ameresco Inc-cl A | -0.3% | -4.69% | Trim |
| 15 | ARRY | Array Technologies INC | -0.7% | -4.38% | Trim |
| 16 | QCOM | Qualcomm INC | -0.8% | — | Unchanged |
| 17 | FSLR | First Solar INC | -1.2% | -2.88% | Trim |
| 18 | HUM | Humana INC | -1.3% | +8.71% | Add |
| 19 | SNY | Sanofi-adr | -1.3% | -56.81% | Trim |
| 20 | MRK | Merck & Co. INC. | -3% | -78.47% | Trim |
| 21 | XYL | Xylem INC | — | NEW | New buy |
| 22 | POR | Portland General Electric Co | — | EXIT | Sold out |
| 23 | UCTT | Ultra Clean Holdings INC | — | NEW | New buy |
| 24 | PYPL | Paypal Holdings INC | — | EXIT | Sold out |
| Period | Filed | Type | EDGAR |
|---|---|---|---|
| 2026-03-31 | 2026-05-15 | 13F-HR | View on EDGAR |
| 2025-12-31 | 2026-02-17 | 13F-HR | View on EDGAR |
| 2025-09-30 | 2025-11-14 | 13F-HR | View on EDGAR |
| 2025-06-30 | 2025-08-14 | 13F-HR | View on EDGAR |
| 2025-03-31 | 2025-05-15 | 13F-HR | View on EDGAR |
| 2024-12-31 | 2025-02-14 | 13F-HR | View on EDGAR |
| 2024-09-30 | 2024-11-14 | 13F-HR | View on EDGAR |
| 2024-06-30 | 2024-08-14 | 13F-HR | View on EDGAR |
| 2024-03-31 | 2024-05-23 | Amendment | View on EDGAR |
| 2024-03-31 | 2024-05-15 | 13F-HR | View on EDGAR |
| 2023-12-31 | 2024-02-14 | 13F-HR | View on EDGAR |
| 2023-09-30 | 2023-11-14 | 13F-HR | View on EDGAR |
| 2023-06-30 | 2023-08-14 | 13F-HR | View on EDGAR |
| 2023-03-31 | 2023-05-15 | 13F-HR | View on EDGAR |
| 2022-12-31 | 2023-02-14 | 13F-HR | View on EDGAR |
| 2022-09-30 | 2022-11-14 | 13F-HR | View on EDGAR |
| 2022-06-30 | 2022-08-15 | 13F-HR | View on EDGAR |
| 2022-03-31 | 2022-05-16 | 13F-HR | View on EDGAR |
| 2021-12-31 | 2022-02-14 | 13F-HR | View on EDGAR |
| 2021-09-30 | 2021-11-15 | 13F-HR | View on EDGAR |
| 2021-06-30 | 2021-08-16 | 13F-HR | View on EDGAR |
| 2021-03-31 | 2021-05-17 | 13F-HR | View on EDGAR |
| 2020-12-31 | 2021-02-16 | 13F-HR | View on EDGAR |
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