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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
-18.51%
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
$651M
AUM Growth
-$376M
Cap. Flow
-$106M
Cap. Flow %
-16.3%
Top 10 Hldgs %
100%
Holding
9
New
–
Increased
1
Reduced
3
Closed
2

Top Buys

Rank Stock Value
1
NEWR
New Relic, Inc.
NEWR
+$79.4M

Top Sells

Rank Stock Value
1
BRCC icon
BRC Inc
BRCC
+$67.4M
2
HAIN icon
Hain Celestial
HAIN
+$42.4M
3
EVH icon
Evolent Health
EVH
+$28.9M
4
STKL
SunOpta
STKL
+$6.85M

Sector Composition

Rank Sector Weight
1 Technology 46.98%
2 Healthcare 29.02%
3 Consumer Staples 21.22%
4 Communication Services 2.78%
Name Market Value Portfolio Weight Shares or Principal Change
in Stake 		Capital Flow
EVH icon
1
Evolent Health
EVH
$536M
$189M 29.02%
6,154,821
-991,574
-14% -$28.9M
VYX icon
2
NCR Voyix
VYX
$1.09B
$139M 21.27%
7,257,503
– –
NEWR
3
DELISTED
New Relic, Inc.
NEWR
$122M 18.68%
2,430,370
+1,431,100
+143% +$79.4M
BRCC icon
4
BRC Inc
BRCC
$22M
$90.8M 13.94%
11,125,000
-4,900,000
-31% -$67.4M
STKL
5
DELISTED
SunOpta
STKL
$47.4M 7.28%
6,091,919
-1,040,326
-15% -$6.85M
UPBD icon
6
Upbound Group
UPBD
$1.1B
$45.8M 7.04%
2,355,730
– –
QUOT
7
DELISTED
Quotient Technology Inc
QUOT
$18.1M 2.78%
6,107,150
– –
HAIN icon
8
Hain Celestial
HAIN
$71.6M
– –
-1,231,261
Closed -$42.4M
NEWR
9
CALL
DELISTED
New Relic, Inc.
NEWR
– –
-600,000
Closed -$40.1M

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Glenn Welling's Q2 2022 Portfolio in Review

As of Q2 2022, Glenn Welling held 9 positions worth $651M, down 37% from $1.03B the previous quarter. Its ten largest holdings account for 100% of the portfolio.

Glenn Welling withdrew a net $106M in Q2 2022, closing 2 positions and reducing 3 holdings. Its most notable exit was Hain Celestial, an estimated $42.4M position sold in full.

By sector, the portfolio is most concentrated in Technology at 47% of assets, up from 30% a quarter earlier, followed by Healthcare and Consumer Staples.

Against the trend, Glenn Welling added an estimated $79.4M to New Relic, Inc..

  • Glenn Welling added most to New Relic, Inc. in Q2 2022, an estimated $79.4M increase.
  • Glenn Welling's biggest Q2 2022 reduction was BRC Inc, cutting an estimated $67.4M.
  • Glenn Welling fully exited Hain Celestial in Q2 2022, selling an estimated $42.4M.
  • Glenn Welling's ten largest holdings make up 100% of its $651M portfolio in Q2 2022.
  • Glenn Welling opened 0 new positions and closed 2 in Q2 2022.
  • Glenn Welling's portfolio value fell 37% quarter-over-quarter to $651M.

Based on Engaged Capital's 13F filing for Q2 2022, filed 15 Aug 2022.