Glenn Welling Engaged Capital
Glenn Welling is the founder of Engaged Capital, an activist investment firm focused primarily on small- and mid-cap U.S. companies. Engaged Capital seeks undervalued businesses where operational improvement, cost discipline, or strategic change can unlock value. Welling’s campaigns are closely watched in the activist community for mid-market corporate engagement.
Top Buys
| Rank | Stock | Value |
|---|---|---|
| 1 |
TIVO
Tivo Inc
TIVO
|
+$3.36M |
| 2 |
LBY
Libbey, Inc.
LBY
|
+$394K |
| 3 |
STKL
SunOpta
STKL
|
+$243K |
Top Sells
| Rank | Stock | Value |
|---|---|---|
| 1 |
HTWR
HEARTWARE INTERNATIONAL INC COM STK (DE)
HTWR
|
+$7.56M |
| 2 |
iShares Russell 2000 ETF
IWM
|
+$1.94M |
| 3 |
AMAG
AMAG Pharmaceuticals
AMAG
|
+$361K |
Sector Composition
| Rank | Sector | Weight |
|---|---|---|
| 1 | Technology | 25.74% |
| 2 | Consumer Discretionary | 21.2% |
| 3 | Industrials | 13.48% |
| 4 | Healthcare | 1.98% |
| 5 | Consumer Staples | 0.08% |
| Name | Market Value | Portfolio Weight | Shares or Principal |
Change in Stake | Capital Flow | |
|---|---|---|---|---|---|---|
|
OUTR
1
DELISTED
OUTERWALL INC
OUTR
| $102M | 35.92% |
2,431,170
| – | – |
|
2
Benchmark Electronics
BHE
$2.61B
| $51.4M | 18.07% |
2,428,221
| – | – |
|
|
TIVO
3
DELISTED
Tivo Inc
TIVO
| $38.3M | 13.48% |
2,450,000
+200,000
| +9% | +$3.36M |
|
4
Medifast
MED
$134M
| $24.5M | 8.63% |
737,465
| – | – |
|
5
Magnachip Semiconductor
MX
$121M
| $21.8M | 7.67% |
3,852,974
| – | – |
|
|
JMBA
6
DELISTED
Jamba, Inc.
JMBA
| $18.8M | 6.63% |
1,830,767
| – | – |
|
7
TriMas Corp
TRS
$1.41B
| $12.2M | 4.3% |
679,067
| – | – |
|
|
LBY
8
DELISTED
Libbey, Inc.
LBY
| $4.66M | 1.64% |
293,064
+23,000
| +9% | +$394K |
|
|
9
iShares Russell 2000 ETF
IWM
$81.9B
| $4.55M | 1.6% |
39,569
-17,220
| -30% | -$1.94M |
|
|
BDSI
10
DELISTED
BioDelivery Sciences International, Inc.
BDSI
| $4.43M | 1.56% |
1,876,550
| – | – |
|
|
AMAG
11
DELISTED
AMAG Pharmaceuticals
AMAG
| $1.2M | 0.42% |
50,174
-15,742
| -24% | -$361K |
|
|
STKL
12
DELISTED
SunOpta
STKL
| $220K | 0.08% |
+52,593
| New | +$243K |
|
|
HTWR
13
DELISTED
HEARTWARE INTERNATIONAL INC COM STK (DE)
HTWR
| – | – |
-240,750
| Closed | -$7.56M |
|
Similar funds
Glenn Welling's Q2 2016 Portfolio in Review
As of Q2 2016, Glenn Welling held 13 positions worth $284M, down 4.1% from $296M the previous quarter. Its ten largest holdings account for 100% of the portfolio.
Glenn Welling's Q2 2016 filing shows 1 new, 2 increased, 2 reduced and 1 closed positions. Its largest new stake was SunOpta: 52,593 shares worth $220K. The largest sale was HEARTWARE INTERNATIONAL INC COM STK (DE), an estimated $7.56M.
By sector, the portfolio is most concentrated in Technology at 26% of assets, down from 26% a quarter earlier, followed by Consumer Discretionary and Industrials.
- Glenn Welling's largest Q2 2016 buy was SunOpta: 52,593 shares worth $220K.
- Glenn Welling added most to Tivo Inc in Q2 2016, an estimated $3.36M increase.
- Glenn Welling's biggest Q2 2016 reduction was iShares Russell 2000 ETF, cutting an estimated $1.94M.
- Glenn Welling fully exited HEARTWARE INTERNATIONAL INC COM STK (DE) in Q2 2016, selling an estimated $7.56M.
- Glenn Welling's ten largest holdings make up 100% of its $284M portfolio in Q2 2016.
- Glenn Welling opened 1 new position and closed 1 in Q2 2016.
- Glenn Welling's portfolio value fell 4.1% quarter-over-quarter to $284M.
Based on Engaged Capital's 13F filing for Q2 2016, filed 15 Aug 2016.