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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
+9.27%
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
$781M
AUM Growth
-$6.55M
(-0.83%)
Cap. Flow
-$66.2M
Cap. Flow
% of AUM
-8.48%
Top 10 Holdings %
Top 10 Hldgs %
74.43%
Holding
22
New
–
Increased
5
Reduced
11
Closed
2
Top Buys
| Rank | Stock | Value |
|---|---|---|
| 1 |
CDK
CDK Global, Inc.
CDK
|
+$8.81M |
| 2 |
AVLR
Avalara, Inc.
AVLR
|
+$8.53M |
| 3 |
Advance Auto Parts
AAP
|
+$3.2M |
| 4 |
INST
Instructure, Inc.
INST
|
+$469K |
| 5 |
AUD
Audacy, Inc.
AUD
|
+$283K |
Top Sells
| Rank | Stock | Value |
|---|---|---|
| 1 |
Equinix
EQIX
|
+$15.7M |
| 2 |
Expeditors International
EXPD
|
+$13.9M |
| 3 |
PTC
PTC
|
+$13.1M |
| 4 |
INXN
Interxion Holding N.V.
INXN
|
+$12.6M |
| 5 |
News Corp Class A
NWSA
|
+$10.9M |
Sector Composition
| Rank | Sector | Weight |
|---|---|---|
| 1 | Technology | 34.06% |
| 2 | Consumer Discretionary | 33.24% |
| 3 | Communication Services | 16.47% |
| 4 | Industrials | 7.87% |
| 5 | Real Estate | 5.39% |
| Name | Market Value | Portfolio Weight | Shares or Principal |
Change in Stake | Capital Flow | |
|---|---|---|---|---|---|---|
|
AVLR
1
DELISTED
Avalara, Inc.
AVLR
| $97.5M | 12.49% |
1,331,474
+117,368
| +10% | +$8.53M |
|
2
Valvoline
VVV
$4.36B
| $67.9M | 8.69% |
3,169,158
-14,152
| -0.4% | -$312K |
|
|
CSOD
3
DELISTED
Cornerstone OnDemand, Inc.
CSOD
| $62.7M | 8.03% |
1,070,171
-168,185
| -14% | -$9.73M |
|
4
Dick's Sporting Goods
DKS
$18.1B
| $61.3M | 7.86% |
1,239,579
-33,750
| -3% | -$1.44M |
|
|
INST
5
DELISTED
Instructure, Inc.
INST
| $56.7M | 7.26% |
1,176,027
+10,000
| +0.9% | +$469K |
|
6
Crown Holdings
CCK
$12.9B
| $55.9M | 7.16% |
770,932
-2,430
| -0.3% | -$173K |
|
|
7
Advance Auto Parts
AAP
$3.41B
| $52.5M | 6.73% |
327,785
+20,000
| +6% | +$3.2M |
|
8
Atlanta Braves Holdings Series B
BATRK
$3.44B
| $46.4M | 5.95% |
1,572,296
-176,812
| -10% | -$5.03M |
|
|
9
Equinix
EQIX
$109B
| $42.1M | 5.39% |
72,087
-28,000
| -28% | -$15.7M |
|
10
Take-Two Interactive
TTWO
$46.2B
| $38M | 4.86% |
310,000
| – | – |
|
|
INXN
11
DELISTED
Interxion Holding N.V.
INXN
| $37.3M | 4.78% |
445,325
-150,400
| -25% | -$12.6M |
|
|
12
Expeditors International
EXPD
$24.2B
| $32.9M | 4.21% |
421,487
-185,000
| -31% | -$13.9M |
|
|
CDK
13
DELISTED
CDK Global, Inc.
CDK
| $28.5M | 3.65% |
521,549
+171,478
| +49% | +$8.81M |
|
14
Lithia Motors
LAD
$8.3B
| $21.8M | 2.8% |
148,512
-7,788
| -5% | -$1.17M |
|
15
Transocean
RIG
$6.43B
| $20.9M | 2.68% |
3,042,940
-325,000
| -10% | -$1.67M |
|
|
TLND
16
DELISTED
Talend S.A. American Depositary Shares
TLND
| $20.1M | 2.57% |
513,876
| – | – |
|
|
17
PTC
PTC
$16.2B
| $19M | 2.43% |
253,737
-184,350
| -42% | -$13.1M |
|
|
AYX
18
DELISTED
Alteryx Inc
AYX
| $9.91M | 1.27% |
98,993
| – | – |
|
|
AUD
19
DELISTED
Audacy, Inc.
AUD
| $6.82M | 0.87% |
1,469,050
+67,800
| +5% | +$283K |
|
|
VTNR
20
DELISTED
Vertex Energy, Inc
VTNR
| $2.31M | 0.3% |
1,500,000
| – | – |
|
21
News Corp Class B
NWS
$17.9B
| – | – |
-120,225
| Closed | -$1.72M |
|
|
22
News Corp Class A
NWSA
$15.8B
| – | – |
-786,673
| Closed | -$10.9M |
|
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Tensile Capital Management's Q4 2019 Portfolio in Review
As of Q4 2019, Tensile Capital Management held 22 positions worth $781M, down 0.83% from $787M the previous quarter. Its ten largest holdings account for 74% of the portfolio.
Tensile Capital Management withdrew a net $66.2M in Q4 2019, closing 2 positions and reducing 11 holdings. Its most notable exit was News Corp Class A, an estimated $10.9M position sold in full.
By sector, the portfolio is most concentrated in Technology at 34% of assets, up from 32% a quarter earlier, followed by Consumer Discretionary and Communication Services.
Against the trend, Tensile Capital Management added an estimated $8.81M to CDK Global, Inc..
- Tensile Capital Management added most to CDK Global, Inc. in Q4 2019, an estimated $8.81M increase.
- Tensile Capital Management's biggest Q4 2019 reduction was Equinix, cutting an estimated $15.7M.
- Tensile Capital Management fully exited News Corp Class A in Q4 2019, selling an estimated $10.9M.
- Tensile Capital Management's ten largest holdings make up 74% of its $781M portfolio in Q4 2019.
- Tensile Capital Management opened 0 new positions and closed 2 in Q4 2019.
- Tensile Capital Management's portfolio value fell 0.83% quarter-over-quarter to $781M.
Based on Tensile Capital Management's 13F filing for Q4 2019, filed 14 Feb 2020.