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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
+6.28%
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
$762M
AUM Growth
-$90.1M
(-11%)
Cap. Flow
-$111M
Cap. Flow
% of AUM
-14.52%
Top 10 Holdings %
Top 10 Hldgs %
89.4%
Holding
19
New
2
Increased
1
Reduced
13
Closed
1
Top Buys
| Rank | Stock | Value |
|---|---|---|
| 1 |
Cannae Holdings
CNNE
|
+$15.1M |
| 2 |
Advance Auto Parts
AAP
|
+$9.22M |
| 3 |
Box
BOX
|
+$3.62M |
Top Sells
| Rank | Stock | Value |
|---|---|---|
| 1 |
TLND
Talend S.A. American Depositary Shares
TLND
|
+$26.3M |
| 2 |
AVLR
Avalara, Inc.
AVLR
|
+$24.6M |
| 3 |
PS
Pluralsight, Inc. Class A Common Stock
PS
|
+$22.5M |
| 4 |
O'Reilly Automotive
ORLY
|
+$18.3M |
| 5 |
Lithia Motors
LAD
|
+$11.7M |
Sector Composition
| Rank | Sector | Weight |
|---|---|---|
| 1 | Consumer Discretionary | 51.63% |
| 2 | Technology | 29.68% |
| 3 | Communication Services | 12.17% |
| 4 | Real Estate | 6.25% |
| 5 | Energy | 0.28% |
| Name | Market Value | Portfolio Weight | Shares or Principal |
Change in Stake | Capital Flow | |
|---|---|---|---|---|---|---|
|
AVLR
1
DELISTED
Avalara, Inc.
AVLR
| $149M | 19.54% |
1,116,118
-159,300
| -12% | -$24.6M |
|
|
2
Lithia Motors
LAD
$8.3B
| $123M | 16.1% |
314,622
-32,531
| -9% | -$11.7M |
|
3
Crown Holdings
CCK
$12.9B
| $80.9M | 10.61% |
833,195
-12,000
| -1% | -$1.16M |
|
4
Valvoline
VVV
$4.36B
| $71.4M | 9.37% |
2,739,059
-420,000
| -13% | -$10.5M |
|
5
Take-Two Interactive
TTWO
$46.2B
| $58.4M | 7.66% |
330,298
-8,000
| -2% | -$1.52M |
|
6
Dick's Sporting Goods
DKS
$18.1B
| $47.9M | 6.29% |
629,579
-150,000
| -19% | -$10.8M |
|
7
Equinix
EQIX
$109B
| $47.6M | 6.25% |
70,042
-4,000
| -5% | -$2.75M |
|
|
8
Advance Auto Parts
AAP
$3.41B
| $45.8M | 6.01% |
249,608
+55,000
| +28% | +$9.22M |
|
9
Atlanta Braves Holdings Series B
BATRK
$3.44B
| $31M | 4.07% |
1,114,263
-130,000
| -10% | -$3.67M |
|
|
TLND
10
DELISTED
Talend S.A. American Depositary Shares
TLND
| $26.7M | 3.5% |
419,519
-505,958
| -55% | -$26.3M |
|
|
CSOD
11
DELISTED
Cornerstone OnDemand, Inc.
CSOD
| $21.8M | 2.86% |
499,460
-1,715
| -0.3% | -$79K |
|
12
Vertex
VERX
$2.06B
| $19M | 2.49% |
864,700
-107,300
| -11% | -$3.35M |
|
|
13
Cannae Holdings
CNNE
$635M
| $14.8M | 1.94% |
+372,588
| New | +$15.1M |
|
|
14
O'Reilly Automotive
ORLY
$73.7B
| $9.97M | 1.31% |
294,810
-589,200
| -67% | -$18.3M |
|
|
AYX
15
DELISTED
Alteryx Inc
AYX
| $5.56M | 0.73% |
66,993
| – | – |
|
|
16
Box
BOX
$4.52B
| $4.27M | 0.56% |
+185,787
| New | +$3.62M |
|
|
PS
17
DELISTED
Pluralsight, Inc. Class A Common Stock
PS
| $3.36M | 0.44% |
150,337
-1,049,883
| -87% | -$22.5M |
|
|
VTNR
18
DELISTED
Vertex Energy, Inc
VTNR
| $2.12M | 0.28% |
1,500,000
| – | – |
|
19
Transocean
RIG
$6.43B
| – | – |
-642,940
| Closed | -$1.49M |
|
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Tensile Capital Management's Q1 2021 Portfolio in Review
As of Q1 2021, Tensile Capital Management held 19 positions worth $762M, down 11% from $852M the previous quarter. Its ten largest holdings account for 89% of the portfolio.
Tensile Capital Management withdrew a net $111M in Q1 2021, closing 1 position and reducing 13 holdings. Its most notable exit was Transocean, an estimated $1.49M position sold in full.
By sector, the portfolio is most concentrated in Consumer Discretionary at 52% of assets, up from 42% a quarter earlier, followed by Technology and Communication Services.
Against the trend, Tensile Capital Management opened a new position in Cannae Holdings worth $14.8M.
- Tensile Capital Management's largest Q1 2021 buy was Cannae Holdings: 372,588 shares worth $14.8M.
- Tensile Capital Management added most to Advance Auto Parts in Q1 2021, an estimated $9.22M increase.
- Tensile Capital Management's biggest Q1 2021 reduction was Talend S.A. American Depositary Shares, cutting an estimated $26.3M.
- Tensile Capital Management fully exited Transocean in Q1 2021, selling an estimated $1.49M.
- Tensile Capital Management's ten largest holdings make up 89% of its $762M portfolio in Q1 2021.
- Tensile Capital Management opened 2 new positions and closed 1 in Q1 2021.
- Tensile Capital Management's portfolio value fell 11% quarter-over-quarter to $762M.
Based on Tensile Capital Management's 13F filing for Q1 2021, filed 17 May 2021.