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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
+10.52%
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
$663M
AUM Growth
-$3.84M
(-0.58%)
Cap. Flow
-$66.5M
Cap. Flow
% of AUM
-10.03%
Top 10 Holdings %
Top 10 Hldgs %
81.35%
Holding
21
New
1
Increased
5
Reduced
5
Closed
5
Top Buys
| Rank | Stock | Value |
|---|---|---|
| 1 |
Valvoline
VVV
|
+$17.8M |
| 2 |
AYX
Alteryx Inc
AYX
|
+$14.2M |
| 3 |
Atlanta Braves Holdings Series B
BATRK
|
+$5.3M |
| 4 |
Equinix
EQIX
|
+$4.45M |
| 5 |
Dick's Sporting Goods
DKS
|
+$2.51M |
Top Sells
| Rank | Stock | Value |
|---|---|---|
| 1 |
HAWK
Blackhawk Network Holdings, Inc. Common Stock
HAWK
|
+$39M |
| 2 |
CSOD
Cornerstone OnDemand, Inc.
CSOD
|
+$18.2M |
| 3 |
Macy's
M
|
+$14.3M |
| 4 |
Progress Software
PRGS
|
+$10.1M |
| 5 |
Matsons
MATX
|
+$9.26M |
Sector Composition
| Rank | Sector | Weight |
|---|---|---|
| 1 | Consumer Discretionary | 29.13% |
| 2 | Technology | 27.65% |
| 3 | Communication Services | 19.89% |
| 4 | Real Estate | 7.35% |
| 5 | Industrials | 7.2% |
| Name | Market Value | Portfolio Weight | Shares or Principal |
Change in Stake | Capital Flow | |
|---|---|---|---|---|---|---|
|
1
Valvoline
VVV
$4.36B
| $79.4M | 11.96% |
3,679,527
+841,905
| +30% | +$17.8M |
|
2
PTC
PTC
$16.2B
| $78.2M | 11.79% |
833,926
| – | – |
|
3
Advance Auto Parts
AAP
$3.41B
| $74.2M | 11.18% |
546,622
-75,035
| -12% | -$9.12M |
|
|
CSOD
4
DELISTED
Cornerstone OnDemand, Inc.
CSOD
| $55.8M | 8.41% |
1,175,868
-390,000
| -25% | -$18.2M |
|
|
5
Atlanta Braves Holdings Series B
BATRK
$3.44B
| $48.8M | 7.35% |
1,885,311
+219,590
| +13% | +$5.3M |
|
|
6
Equinix
EQIX
$109B
| $48.7M | 7.35% |
113,387
+11,000
| +11% | +$4.45M |
|
7
Expeditors International
EXPD
$24.2B
| $47.7M | 7.2% |
653,015
-50,000
| -7% | -$3.49M |
|
|
8
Dick's Sporting Goods
DKS
$18.1B
| $39.7M | 5.98% |
1,125,178
+74,000
| +7% | +$2.51M |
|
|
AYX
9
DELISTED
Alteryx Inc
AYX
| $34.3M | 5.17% |
898,847
+408,025
| +83% | +$14.2M |
|
10
DigitalBridge
DBRG
$2.94B
| $32.9M | 4.96% |
1,318,850
-62,500
| -5% | -$1.49M |
|
|
INXN
11
DELISTED
Interxion Holding N.V.
INXN
| $31.7M | 4.77% |
507,400
| – | – |
|
12
Transocean
RIG
$6.43B
| $25.4M | 3.83% |
1,888,200
| – | – |
|
13
News Corp Class B
NWS
$17.9B
| $25M | 3.77% |
1,578,343
| – | – |
|
14
News Corp Class A
NWSA
$15.8B
| $24.7M | 3.72% |
1,590,673
| – | – |
|
15
SPS Commerce
SPSC
$2.86B
| $15.1M | 2.28% |
411,618
-29,182
| -7% | -$1.04M |
|
|
AUD
16
DELISTED
Audacy, Inc.
AUD
| $1.84M | 0.28% |
+243,716
| New | +$2.07M |
|
|
17
Macy's
M
$6.16B
| – | – |
-480,535
| Closed | -$14.3M |
|
|
18
Matsons
MATX
$6.5B
| – | – |
-323,221
| Closed | -$9.26M |
|
|
19
Progress Software
PRGS
$1.79B
| – | – |
-263,856
| Closed | -$10.1M |
|
|
HAWK
20
DELISTED
Blackhawk Network Holdings, Inc. Common Stock
HAWK
| – | – |
-873,136
| Closed | -$39M |
|
|
DO
21
DELISTED
Diamond Offshore Drilling
DO
| – | – |
-465,200
| Closed | -$6.82M |
|
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Tensile Capital Management's Q2 2018 Portfolio in Review
As of Q2 2018, Tensile Capital Management held 21 positions worth $663M, down 0.58% from $667M the previous quarter. Its ten largest holdings account for 81% of the portfolio.
Tensile Capital Management withdrew a net $66.5M in Q2 2018, closing 5 positions and reducing 5 holdings. Its most notable exit was Blackhawk Network Holdings, Inc. Common Stock, an estimated $39M position sold in full.
By sector, the portfolio is most concentrated in Consumer Discretionary at 29% of assets, up from 28% a quarter earlier, followed by Technology and Communication Services.
Against the trend, Tensile Capital Management opened a new position in Audacy, Inc. worth $1.84M.
- Tensile Capital Management's largest Q2 2018 buy was Audacy, Inc.: 243,716 shares worth $1.84M.
- Tensile Capital Management added most to Valvoline in Q2 2018, an estimated $17.8M increase.
- Tensile Capital Management's biggest Q2 2018 reduction was Cornerstone OnDemand, Inc., cutting an estimated $18.2M.
- Tensile Capital Management fully exited Blackhawk Network Holdings, Inc. Common Stock in Q2 2018, selling an estimated $39M.
- Tensile Capital Management's ten largest holdings make up 81% of its $663M portfolio in Q2 2018.
- Tensile Capital Management opened 1 new position and closed 5 in Q2 2018.
- Tensile Capital Management's portfolio value fell 0.58% quarter-over-quarter to $663M.
Based on Tensile Capital Management's 13F filing for Q2 2018, filed 14 Aug 2018.