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TCM
Tensile Capital Management Portfolio holdings
AUM
$698M
1-Year Est. Return
2.4%
This Fund
S&P 500
This Quarter
Est. Return
+5.61%
1 Year Est. Return
-2.4%
3 Year Est. Return
+33.76%
5 Year Est. Return
+74.93%
10 Year Est. Return
+487.97%
AUM
$396M
AUM Growth
-$13.8M
(-3.4%)
Cap. Flow
-$36.8M
Cap. Flow
% of AUM
-9.31%
Top 10 Holdings %
Top 10 Hldgs %
80.67%
Holding
22
New
4
Increased
5
Reduced
10
Closed
3
Top Buys
| Rank | Stock | Value |
|---|---|---|
| 1 |
News Corp Class B
NWS
|
+$30.4M |
| 2 |
WEB
Web.com Group, Inc.
WEB
|
+$15.6M |
| 3 |
Constellium
CSTM
|
+$13.7M |
| 4 |
WCC
WESCO International
WCC
|
+$8.26M |
| 5 |
EFOR
Everforth Inc
EFOR
|
+$6.89M |
Top Sells
| Rank | Stock | Value |
|---|---|---|
| 1 |
TIBX
TIBCO SOFTWARE INC
TIBX
|
+$59.4M |
| 2 |
CST
CST Brands, Inc.
CST
|
+$18.7M |
| 3 |
Clean Harbors
CLH
|
+$18.1M |
| 4 |
TW
TOWERS WATSON & CO COM STK CL A (DE)
TW
|
+$10.2M |
| 5 |
TUMI
TUMI HLDGS INC COM
TUMI
|
+$4.61M |
Sector Composition
| Rank | Sector | Weight |
|---|---|---|
| 1 | Industrials | 28.19% |
| 2 | Communication Services | 16.98% |
| 3 | Technology | 14.14% |
| 4 | Real Estate | 14.08% |
| 5 | Consumer Discretionary | 9.93% |
| Name | Market Value | Portfolio Weight | Shares or Principal |
Change in Stake | Capital Flow | |
|---|---|---|---|---|---|---|
|
INFA
1
DELISTED
INFORMATICA CORP
INFA
| $53.9M | 13.63% |
1,413,296
+175,000
| +14% | +$6.28M |
|
2
Expeditors International
EXPD
$24.2B
| $50.4M | 12.75% |
1,130,000
-50,000
| -4% | -$2.15M |
|
|
EFOR
3
Everforth Inc
EFOR
$1.3B
| $35.8M | 9.05% |
1,078,317
+229,317
| +27% | +$6.89M |
|
|
CSG
4
DELISTED
CHAMBERS STR PPTYS COM
CSG
| $31.1M | 7.87% |
3,864,184
-250,000
| -6% | -$2M |
|
|
5
News Corp Class B
NWS
$17.9B
| $30.6M | 7.74% |
+2,030,000
| New | +$30.4M |
|
6
Xerox
XRX
$407M
| $25.1M | 6.34% |
686,148
-7,590
| -1% | -$268K |
|
7
Equinix
EQIX
$109B
| $24.6M | 6.21% |
108,308
-6,502
| -6% | -$1.41M |
|
|
TUMI
8
DELISTED
TUMI HLDGS INC COM
TUMI
| $24.3M | 6.14% |
1,022,526
-217,788
| -18% | -$4.61M |
|
|
WCC
9
WESCO International
WCC
$17.6B
| $24.2M | 6.11% |
317,143
+105,000
| +49% | +$8.26M |
|
10
News Corp Class A
NWSA
$15.8B
| $19.2M | 4.85% |
1,221,559
-147,841
| -11% | -$2.27M |
|
|
INXN
11
DELISTED
Interxion Holding N.V.
INXN
| $17.4M | 4.39% |
635,000
+45,000
| +8% | +$1.22M |
|
|
WEB
12
DELISTED
Web.com Group, Inc.
WEB
| $16.3M | 4.11% |
+856,352
| New | +$15.6M |
|
|
13
Constellium
CSTM
$4.01B
| $12.1M | 3.06% |
+737,710
| New | +$13.7M |
|
|
CST
14
DELISTED
CST Brands, Inc.
CST
| $11.8M | 2.99% |
271,233
-465,000
| -63% | -$18.7M |
|
15
Armstrong World Industries
AWI
$7.7B
| $7.67M | 1.94% |
150,000
+51,562
| +52% | +$2.55M |
|
|
GUID
16
DELISTED
Guidance Software, Inc.
GUID
| $3.86M | 0.97% |
531,903
-4,532
| -0.8% | -$28.5K |
|
|
LOV
17
DELISTED
Spark Networks SE American Depositary Shares
LOV
| $3.17M | 0.8% |
883,797
-110,885
| -11% | -$443K |
|
|
CDK
18
DELISTED
CDK Global, Inc.
CDK
| $2.36M | 0.6% |
+58,000
| New | +$2.05M |
|
|
19
Clean Harbors
CLH
$17B
| $1.81M | 0.46% |
37,775
-372,225
| -91% | -$18.1M |
|
|
TW
20
DELISTED
TOWERS WATSON & CO COM STK CL A (DE)
TW
| – | – |
-102,728
| Closed | -$10.2M |
|
|
TIBX
21
DELISTED
TIBCO SOFTWARE INC
TIBX
| – | – |
-2,513,100
| Closed | -$59.4M |
|
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Tensile Capital Management's Q4 2014 Portfolio in Review
As of Q4 2014, Tensile Capital Management held 22 positions worth $396M, down 3.4% from $409M the previous quarter. Its ten largest holdings account for 81% of the portfolio.
Tensile Capital Management withdrew a net $36.8M in Q4 2014, closing 3 positions and reducing 10 holdings. Its most notable exit was TIBCO SOFTWARE INC, an estimated $59.4M position sold in full.
By sector, the portfolio is most concentrated in Industrials at 28% of assets, down from 31% a quarter earlier, followed by Communication Services and Technology.
Against the trend, Tensile Capital Management opened a new position in News Corp Class B worth $30.6M.
- Tensile Capital Management's largest Q4 2014 buy was News Corp Class B: 2,030,000 shares worth $30.6M.
- Tensile Capital Management added most to WESCO International in Q4 2014, an estimated $8.26M increase.
- Tensile Capital Management's biggest Q4 2014 reduction was CST Brands, Inc., cutting an estimated $18.7M.
- Tensile Capital Management fully exited TIBCO SOFTWARE INC in Q4 2014, selling an estimated $59.4M.
- Tensile Capital Management's ten largest holdings make up 81% of its $396M portfolio in Q4 2014.
- Tensile Capital Management opened 4 new positions and closed 3 in Q4 2014.
- Tensile Capital Management's portfolio value fell 3.4% quarter-over-quarter to $396M.
Based on Tensile Capital Management's 13F filing for Q4 2014, filed 17 Feb 2015.