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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
+1.93%
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
$364M
AUM Growth
-$16.6M
(-4.4%)
Cap. Flow
-$17.5M
Cap. Flow
% of AUM
-4.82%
Top 10 Holdings %
Top 10 Hldgs %
83.78%
Holding
19
New
2
Increased
3
Reduced
8
Closed
2
Top Buys
| Rank | Stock | Value |
|---|---|---|
| 1 |
HMHC
Houghton Mifflin Harcourt Company
HMHC
|
+$13.8M |
| 2 |
PTC
PTC
|
+$8.45M |
| 3 |
CSG
CHAMBERS STR PPTYS COM
CSG
|
+$4.15M |
| 4 |
News Corp Class B
NWS
|
+$2.65M |
| 5 |
CSOD
Cornerstone OnDemand, Inc.
CSOD
|
+$657K |
Top Sells
| Rank | Stock | Value |
|---|---|---|
| 1 |
INFA
INFORMATICA CORP
INFA
|
+$15.5M |
| 2 |
TUMI
TUMI HLDGS INC COM
TUMI
|
+$9.86M |
| 3 |
CST
CST Brands, Inc.
CST
|
+$6.28M |
| 4 |
WEB
Web.com Group, Inc.
WEB
|
+$5.96M |
| 5 |
WCC
WESCO International
WCC
|
+$2.87M |
Sector Composition
| Rank | Sector | Weight |
|---|---|---|
| 1 | Communication Services | 22.13% |
| 2 | Industrials | 22.06% |
| 3 | Technology | 21.87% |
| 4 | Real Estate | 16.9% |
| 5 | Consumer Discretionary | 2.15% |
| Name | Market Value | Portfolio Weight | Shares or Principal |
Change in Stake | Capital Flow | |
|---|---|---|---|---|---|---|
|
INFA
1
DELISTED
INFORMATICA CORP
INFA
| $50.7M | 13.94% |
1,045,996
-322,300
| -24% | -$15.5M |
|
2
Expeditors International
EXPD
$24.2B
| $46.9M | 12.89% |
1,017,300
-2,700
| -0.3% | -$127K |
|
|
3
News Corp Class B
NWS
$17.9B
| $36.1M | 9.92% |
2,535,000
+175,000
| +7% | +$2.65M |
|
|
CSG
4
DELISTED
CHAMBERS STR PPTYS COM
CSG
| $35.8M | 9.83% |
4,497,178
+532,994
| +13% | +$4.15M |
|
|
EFOR
5
Everforth Inc
EFOR
$1.3B
| $29.7M | 8.16% |
755,845
-27,861
| -4% | -$1.06M |
|
|
6
PTC
PTC
$16.2B
| $29.1M | 7.99% |
708,845
+213,745
| +43% | +$8.45M |
|
7
Equinix
EQIX
$109B
| $25.7M | 7.07% |
101,308
| – | – |
|
8
Xerox
XRX
$407M
| $19.5M | 5.36% |
695,620
| – | – |
|
|
INXN
9
DELISTED
Interxion Holding N.V.
INXN
| $15.8M | 4.35% |
572,400
-42,600
| -7% | -$1.26M |
|
|
WEB
10
DELISTED
Web.com Group, Inc.
WEB
| $15.5M | 4.26% |
639,952
-275,000
| -30% | -$5.96M |
|
11
News Corp Class A
NWSA
$15.8B
| $14.6M | 4.02% |
1,001,559
-100,000
| -9% | -$1.54M |
|
|
HMHC
12
DELISTED
Houghton Mifflin Harcourt Company
HMHC
| $14M | 3.84% |
+555,000
| New | +$13.8M |
|
|
WCC
13
WESCO International
WCC
$17.6B
| $13.8M | 3.8% |
201,520
-40,000
| -17% | -$2.87M |
|
|
TUMI
14
DELISTED
TUMI HLDGS INC COM
TUMI
| $7.82M | 2.15% |
381,155
-451,708
| -54% | -$9.86M |
|
|
GUID
15
DELISTED
Guidance Software, Inc.
GUID
| $4.56M | 1.25% |
538,303
| – | – |
|
16
Constellium
CSTM
$4.01B
| $3.46M | 0.95% |
292,710
| – | – |
|
|
CSOD
17
DELISTED
Cornerstone OnDemand, Inc.
CSOD
| $735K | 0.2% |
+21,113
| New | +$657K |
|
|
CDK
18
DELISTED
CDK Global, Inc.
CDK
| – | – |
-58,000
| Closed | -$2.71M |
|
|
CST
19
DELISTED
CST Brands, Inc.
CST
| – | – |
-143,305
| Closed | -$6.28M |
|
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Tensile Capital Management's Q2 2015 Portfolio in Review
As of Q2 2015, Tensile Capital Management held 19 positions worth $364M, down 4.4% from $380M the previous quarter. Its ten largest holdings account for 84% of the portfolio.
Tensile Capital Management withdrew a net $17.5M in Q2 2015, closing 2 positions and reducing 8 holdings. Its most notable exit was CST Brands, Inc., an estimated $6.28M position sold in full.
By sector, the portfolio is most concentrated in Communication Services at 22% of assets, up from 19% a quarter earlier, followed by Industrials and Technology.
Against the trend, Tensile Capital Management opened a new position in Houghton Mifflin Harcourt Company worth $14M.
- Tensile Capital Management's largest Q2 2015 buy was Houghton Mifflin Harcourt Company: 555,000 shares worth $14M.
- Tensile Capital Management added most to PTC in Q2 2015, an estimated $8.45M increase.
- Tensile Capital Management's biggest Q2 2015 reduction was INFORMATICA CORP, cutting an estimated $15.5M.
- Tensile Capital Management fully exited CST Brands, Inc. in Q2 2015, selling an estimated $6.28M.
- Tensile Capital Management's ten largest holdings make up 84% of its $364M portfolio in Q2 2015.
- Tensile Capital Management opened 2 new positions and closed 2 in Q2 2015.
- Tensile Capital Management's portfolio value fell 4.4% quarter-over-quarter to $364M.
Based on Tensile Capital Management's 13F filing for Q2 2015, filed 14 Aug 2015.