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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
+19.64%
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
$713M
AUM Growth
+$41.3M
(+6.1%)
Cap. Flow
-$69M
Cap. Flow
% of AUM
-9.68%
Top 10 Holdings %
Top 10 Hldgs %
73.43%
Holding
22
New
1
Increased
2
Reduced
16
Closed
2
Top Buys
| Rank | Stock | Value |
|---|---|---|
| 1 |
Lithia Motors
LAD
|
+$14.1M |
| 2 |
INXN
Interxion Holding N.V.
INXN
|
+$991K |
| 3 |
AVLR
Avalara, Inc.
AVLR
|
+$882K |
Top Sells
| Rank | Stock | Value |
|---|---|---|
| 1 |
PTC
PTC
|
+$12.6M |
| 2 |
Expeditors International
EXPD
|
+$9.82M |
| 3 |
Crown Holdings
CCK
|
+$9.65M |
| 4 |
Dick's Sporting Goods
DKS
|
+$9.17M |
| 5 |
INST
Instructure, Inc.
INST
|
+$5.65M |
Sector Composition
| Rank | Sector | Weight |
|---|---|---|
| 1 | Technology | 30.81% |
| 2 | Consumer Discretionary | 30.52% |
| 3 | Communication Services | 18.62% |
| 4 | Real Estate | 7.06% |
| 5 | Industrials | 6.65% |
| Name | Market Value | Portfolio Weight | Shares or Principal |
Change in Stake | Capital Flow | |
|---|---|---|---|---|---|---|
|
1
PTC
PTC
$16.2B
| $62.2M | 8.73% |
675,228
-142,400
| -17% | -$12.6M |
|
|
CSOD
2
DELISTED
Cornerstone OnDemand, Inc.
CSOD
| $61.3M | 8.6% |
1,119,837
-84,000
| -7% | -$4.64M |
|
3
Valvoline
VVV
$4.36B
| $57M | 8% |
3,072,072
-158,076
| -5% | -$3.13M |
|
4
Atlanta Braves Holdings Series B
BATRK
$3.44B
| $51.4M | 7.2% |
1,849,108
| – | – |
|
|
5
Crown Holdings
CCK
$12.9B
| $51.2M | 7.18% |
938,282
-187,000
| -17% | -$9.65M |
|
6
Advance Auto Parts
AAP
$3.41B
| $50.7M | 7.11% |
297,405
-12,500
| -4% | -$2.02M |
|
7
Equinix
EQIX
$109B
| $50.3M | 7.06% |
111,087
-1,000
| -0.9% | -$407K |
|
|
AVLR
8
DELISTED
Avalara, Inc.
AVLR
| $48.3M | 6.77% |
865,744
+19,003
| +2% | +$882K |
|
|
9
Expeditors International
EXPD
$24.2B
| $47.4M | 6.65% |
624,987
-136,000
| -18% | -$9.82M |
|
|
10
Dick's Sporting Goods
DKS
$18.1B
| $43.7M | 6.13% |
1,186,871
-257,300
| -18% | -$9.17M |
|
|
INXN
11
DELISTED
Interxion Holding N.V.
INXN
| $42.1M | 5.9% |
630,400
+16,000
| +3% | +$991K |
|
|
INST
12
DELISTED
Instructure, Inc.
INST
| $35.9M | 5.04% |
762,372
-134,641
| -15% | -$5.65M |
|
13
Transocean
RIG
$6.43B
| $24.5M | 3.44% |
2,812,940
-39,715
| -1% | -$340K |
|
14
DigitalBridge
DBRG
$2.94B
| $20.7M | 2.9% |
973,449
-77,500
| -7% | -$1.73M |
|
15
News Corp Class A
NWSA
$15.8B
| $16M | 2.24% |
1,286,673
-78,000
| -6% | -$982K |
|
|
16
Lithia Motors
LAD
$8.3B
| $15M | 2.1% |
+161,700
| New | +$14.1M |
|
|
AYX
17
DELISTED
Alteryx Inc
AYX
| $11.9M | 1.67% |
141,993
-66,091
| -32% | -$4.77M |
|
|
AUD
18
DELISTED
Audacy, Inc.
AUD
| $10M | 1.4% |
1,906,423
-314,827
| -14% | -$2.08M |
|
19
News Corp Class B
NWS
$17.9B
| $9.45M | 1.33% |
756,525
-375,000
| -33% | -$4.79M |
|
20
Groupon
GRPN
$875M
| $3.91M | 0.55% |
55,093
-35,000
| -39% | -$2.47M |
|
21
Ball Corp
BALL
$16.4B
| – | – |
-116,000
| Closed | -$5.33M |
|
22
SPS Commerce
SPSC
$2.86B
| – | – |
-130,666
| Closed | -$5.38M |
|
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ACGDR
Tensile Capital Management's Q1 2019 Portfolio in Review
As of Q1 2019, Tensile Capital Management held 22 positions worth $713M, up 6.1% from $672M the previous quarter. Its ten largest holdings account for 73% of the portfolio.
Tensile Capital Management withdrew a net $69M in Q1 2019, closing 2 positions and reducing 16 holdings. Its most notable exit was SPS Commerce, an estimated $5.38M position sold in full.
By sector, the portfolio is most concentrated in Technology at 31% of assets, up from 31% a quarter earlier, followed by Consumer Discretionary and Communication Services.
Against the trend, Tensile Capital Management opened a new position in Lithia Motors worth $15M.
- Tensile Capital Management's largest Q1 2019 buy was Lithia Motors: 161,700 shares worth $15M.
- Tensile Capital Management added most to Interxion Holding N.V. in Q1 2019, an estimated $991K increase.
- Tensile Capital Management's biggest Q1 2019 reduction was PTC, cutting an estimated $12.6M.
- Tensile Capital Management fully exited SPS Commerce in Q1 2019, selling an estimated $5.38M.
- Tensile Capital Management's ten largest holdings make up 73% of its $713M portfolio in Q1 2019.
- Tensile Capital Management opened 1 new position and closed 2 in Q1 2019.
- Tensile Capital Management's portfolio value rose 6.1% quarter-over-quarter to $713M.
Based on Tensile Capital Management's 13F filing for Q1 2019, filed 15 May 2019.