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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
+6.44%
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
$591M
AUM Growth
+$85.7M
Cap. Flow
+$81.7M
Cap. Flow %
13.81%
Top 10 Hldgs %
100%
Holding
10
New
1
Increased
6
Reduced
2
Closed
1

Top Buys

Rank Stock Value
1
BRBR icon
BellRing Brands
BRBR
+$37.5M
2
UPBD icon
Upbound Group
UPBD
+$22.3M
3
VYX icon
NCR Voyix
VYX
+$17.3M
4
EVH icon
Evolent Health
EVH
+$15.6M
5
NEWR
New Relic, Inc.
NEWR
+$10M

Top Sells

Rank Stock Value
1
FRPT icon
Freshpet
FRPT
+$14.8M
2
STKL
SunOpta
STKL
+$8.7M
3
IWM icon
iShares Russell 2000 ETF
IWM
+$3.91M

Sector Composition

Rank Sector Weight
1 Technology 59.43%
2 Consumer Staples 22.09%
3 Healthcare 13.23%
4 Communication Services 4.7%
Name Market Value Portfolio Weight Shares or Principal Change
in Stake 		Capital Flow
NEWR
1
DELISTED
New Relic, Inc.
NEWR
$147M 24.89%
2,607,819
+177,449
+7% +$10M
VYX icon
2
NCR Voyix
VYX
$1.09B
$123M 20.79%
8,561,503
+1,304,000
+18% +$17.3M
BRCC icon
3
BRC Inc
BRCC
$22M
$81.6M 13.79%
13,351,450
+100,000
+0.8% +$653K
UPBD icon
4
Upbound Group
UPBD
$1.1B
$81.3M 13.74%
3,604,216
+1,039,672
+41% +$22.3M
EVH icon
5
Evolent Health
EVH
$536M
$78.2M 13.23%
2,786,042
+544,050
+24% +$15.6M
BRBR icon
6
BellRing Brands
BRBR
$1.18B
$40M 6.77%
+1,561,083
New +$37.5M
QUOT
7
DELISTED
Quotient Technology Inc
QUOT
$27.8M 4.7%
8,107,150
+2,000,000
+33% +$5.65M
STKL
8
DELISTED
SunOpta
STKL
$9.04M 1.53%
1,070,678
-921,241
-46% -$8.7M
IWM icon
9
iShares Russell 2000 ETF
IWM
$81.9B
$3.28M 0.55%
18,800
-22,000
-54% -$3.91M
FRPT icon
10
Freshpet
FRPT
$3.55B
– –
-295,313
Closed -$14.8M

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Glenn Welling's Q4 2022 Portfolio in Review

As of Q4 2022, Glenn Welling held 10 positions worth $591M, up 17% from $506M the previous quarter. Its ten largest holdings account for 100% of the portfolio.

Glenn Welling deployed $81.7M of net new capital in Q4 2022, opening 1 new position and adding to 6 existing holdings. Its largest new stake was BellRing Brands: 1,561,083 shares worth $40M.

By sector, the portfolio is most concentrated in Technology at 59% of assets, up from 53% a quarter earlier, followed by Consumer Staples and Healthcare.

On the sell side, the largest reduction was SunOpta, an estimated $8.7M trimmed.

  • Glenn Welling's largest Q4 2022 buy was BellRing Brands: 1,561,083 shares worth $40M.
  • Glenn Welling added most to Upbound Group in Q4 2022, an estimated $22.3M increase.
  • Glenn Welling's biggest Q4 2022 reduction was SunOpta, cutting an estimated $8.7M.
  • Glenn Welling fully exited Freshpet in Q4 2022, selling an estimated $14.8M.
  • Glenn Welling's ten largest holdings make up 100% of its $591M portfolio in Q4 2022.
  • Glenn Welling opened 1 new position and closed 1 in Q4 2022.
  • Glenn Welling's portfolio value rose 17% quarter-over-quarter to $591M.

Based on Engaged Capital's 13F filing for Q4 2022, filed 14 Feb 2023.