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GW

Glenn Welling Engaged Capital

AUM $327M
1-Year Est. Return 22.96%
 

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.

This Fund
S&P 500
This Quarter Est. Return
-12.11%
1 Year Est. Return
+22.96%
3 Year Est. Return
+26.15%
5 Year Est. Return
+72.38%
10 Year Est. Return
+552.21%
AUM
$763M
AUM Growth
-$200M
Cap. Flow
-$20.3M
Cap. Flow %
-2.66%
Top 10 Hldgs %
100%
Holding
8
New
–
Increased
–
Reduced
3
Closed
–

Top Buys

No buys this quarter

Top Sells

Rank Stock Value
1
APOG icon
Apogee Enterprises
APOG
+$16.5M
2
VYX icon
NCR Voyix
VYX
+$3.78M
3
INWK
InnerWorkings, Inc.
INWK
+$357

Sector Composition

Rank Sector Weight
1 Consumer Staples 73.7%
2 Technology 11.37%
3 Consumer Discretionary 9.51%
4 Industrials 5.43%
Name Market Value Portfolio Weight Shares or Principal Change
in Stake 		Capital Flow
HAIN icon
1
Hain Celestial
HAIN
$71.6M
$547M 71.73%
21,068,777
– –
UPBD icon
2
Upbound Group
UPBD
$1.1B
$75.4M 9.89%
5,333,609
– –
MED icon
3
Medifast
MED
$134M
$72.5M 9.51%
1,160,376
– –
APOG icon
4
Apogee Enterprises
APOG
$868M
$20.5M 2.69%
984,759
-565,129
-36% -$16.5M
TIVO
5
DELISTED
Tivo Inc
TIVO
$17.9M 2.34%
2,525,000
– –
STKL
6
DELISTED
SunOpta
STKL
$15M 1.97%
8,731,907
– –
VYX icon
7
NCR Voyix
VYX
$1.09B
$11.3M 1.48%
1,039,956
-220,050
-17% -$3.78M
INWK
8
DELISTED
InnerWorkings, Inc.
INWK
$3.01M 0.39%
2,573,248
-100
-0% -$357

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Glenn Welling's Q1 2020 Portfolio in Review

As of Q1 2020, Glenn Welling held 8 positions worth $763M, down 21% from $963M the previous quarter. Its ten largest holdings account for 100% of the portfolio.

Trading was light in Q1 2020: portfolio turnover was 0%. Glenn Welling opened no new positions and made no exits, leaving the 8-position portfolio largely intact.

By sector, the portfolio is most concentrated in Consumer Staples at 74% of assets, up from 59% a quarter earlier, followed by Technology and Consumer Discretionary.

  • Glenn Welling's biggest Q1 2020 reduction was Apogee Enterprises, cutting an estimated $16.5M.
  • Glenn Welling's ten largest holdings make up 100% of its $763M portfolio in Q1 2020.
  • Glenn Welling opened 0 new positions and closed 0 in Q1 2020.
  • Glenn Welling's portfolio value fell 21% quarter-over-quarter to $763M.

Based on Engaged Capital's 13F filing for Q1 2020, filed 15 May 2020.