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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
+8.59%
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
$392M
AUM Growth
-$15.6M
Cap. Flow
-$15.6M
Cap. Flow %
-3.98%
Top 10 Hldgs %
100%
Holding
9
New
–
Increased
2
Reduced
6
Closed
–

Top Buys

Rank Stock Value
1
BL icon
BlackLine
BL
+$34.7M
2
CGNX icon
Cognex
CGNX
+$3.16M

Top Sells

Rank Stock Value
1
PTLO icon
Portillo's
PTLO
+$18.4M
2
FRPT icon
Freshpet
FRPT
+$12.4M
3
VFC icon
VF Corp
VFC
+$9.01M
4
GXO icon
GXO Logistics
GXO
+$7.81M
5
YETI icon
Yeti Holdings
YETI
+$5.26M

Sector Composition

Rank Sector Weight
1 Consumer Discretionary 49.15%
2 Technology 23.85%
3 Industrials 11.14%
4 Consumer Staples 10.18%
5 Healthcare 5.68%
Name Market Value Portfolio Weight Shares or Principal Change
in Stake 		Capital Flow
VFC icon
1
VF Corp
VFC
$5.65B
$95.9M 24.47%
5,306,548
-555,820
-9% -$9.01M
YETI icon
2
Yeti Holdings
YETI
$3.19B
$89.8M 22.9%
2,032,695
-136,856
-6% -$5.26M
BL icon
3
BlackLine
BL
$1.85B
$59.9M 15.28%
1,083,619
+629,825
+139% +$34.7M
GXO icon
4
GXO Logistics
GXO
$5.24B
$43.7M 11.14%
829,769
-148,708
-15% -$7.81M
CGNX icon
5
Cognex
CGNX
$10.2B
$33.6M 8.56%
933,000
+78,000
+9% +$3.16M
FRPT icon
6
Freshpet
FRPT
$3.55B
$24.4M 6.23%
401,130
-218,000
-35% -$12.4M
EVH icon
7
Evolent Health
EVH
$536M
$22.3M 5.68%
5,563,912
-100,000
-2% -$556K
BRCC icon
8
BRC Inc
BRCC
$22M
$15.5M 3.95%
13,935,560
– –
PTLO icon
9
Portillo's
PTLO
$360M
$6.97M 1.78%
1,534,990
-3,534,311
-70% -$18.4M

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Glenn Welling's Q4 2025 Portfolio in Review

As of Q4 2025, Glenn Welling held 9 positions worth $392M, down 3.8% from $408M the previous quarter. Its ten largest holdings account for 100% of the portfolio.

Glenn Welling withdrew a net $15.6M in Q4 2025, reducing 6 holdings. Its largest reduction was Portillo's, cutting an estimated $18.4M.

By sector, the portfolio is most concentrated in Consumer Discretionary at 49% of assets, up from 46% a quarter earlier, followed by Technology and Industrials.

Against the trend, Glenn Welling added an estimated $34.7M to BlackLine.

  • Glenn Welling added most to BlackLine in Q4 2025, an estimated $34.7M increase.
  • Glenn Welling's biggest Q4 2025 reduction was Portillo's, cutting an estimated $18.4M.
  • Glenn Welling's ten largest holdings make up 100% of its $392M portfolio in Q4 2025.
  • Glenn Welling opened 0 new positions and closed 0 in Q4 2025.
  • Glenn Welling's portfolio value fell 3.8% quarter-over-quarter to $392M.

Based on Engaged Capital's 13F filing for Q4 2025, filed 17 Feb 2026.