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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
+29.55%
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
$883M
AUM Growth
+$121M
(+16%)
Cap. Flow
+$35.7M
Cap. Flow
% of AUM
4.05%
Top 10 Holdings %
Top 10 Hldgs %
88.96%
Holding
19
New
1
Increased
7
Reduced
5
Closed
3
Top Buys
| Rank | Stock | Value |
|---|---|---|
| 1 |
TUEM
Tuesday Morning Corp
TUEM
|
+$89.8M |
| 2 |
Lithia Motors
LAD
|
+$5.42M |
| 3 |
Cannae Holdings
CNNE
|
+$4.61M |
| 4 |
Dick's Sporting Goods
DKS
|
+$2.24M |
| 5 |
Crown Holdings
CCK
|
+$1.37M |
Top Sells
| Rank | Stock | Value |
|---|---|---|
| 1 |
AVLR
Avalara, Inc.
AVLR
|
+$21M |
| 2 |
TLND
Talend S.A. American Depositary Shares
TLND
|
+$18.7M |
| 3 |
O'Reilly Automotive
ORLY
|
+$9.97M |
| 4 |
Valvoline
VVV
|
+$8.48M |
| 5 |
Equinix
EQIX
|
+$4.46M |
Sector Composition
| Rank | Sector | Weight |
|---|---|---|
| 1 | Consumer Discretionary | 46.84% |
| 2 | Technology | 24.58% |
| 3 | Consumer Staples | 10.28% |
| 4 | Communication Services | 10.23% |
| 5 | Real Estate | 5.82% |
| Name | Market Value | Portfolio Weight | Shares or Principal |
Change in Stake | Capital Flow | |
|---|---|---|---|---|---|---|
|
AVLR
1
DELISTED
Avalara, Inc.
AVLR
| $156M | 17.7% |
965,418
-150,700
| -14% | -$21M |
|
|
2
Lithia Motors
LAD
$8.3B
| $113M | 12.83% |
329,622
+15,000
| +5% | +$5.42M |
|
|
TUEM
3
DELISTED
Tuesday Morning Corp
TUEM
| $90.7M | 10.28% |
+671,953
| New | +$89.8M |
|
|
4
Crown Holdings
CCK
$12.9B
| $86.5M | 9.8% |
846,195
+13,000
| +2% | +$1.37M |
|
|
5
Valvoline
VVV
$4.36B
| $80.1M | 9.07% |
2,466,415
-272,644
| -10% | -$8.48M |
|
|
6
Dick's Sporting Goods
DKS
$18.1B
| $65.6M | 7.43% |
654,579
+25,000
| +4% | +$2.24M |
|
7
Take-Two Interactive
TTWO
$46.2B
| $59.4M | 6.72% |
335,298
+5,000
| +2% | +$888K |
|
|
8
Equinix
EQIX
$109B
| $51.4M | 5.82% |
64,042
-6,000
| -9% | -$4.46M |
|
9
Advance Auto Parts
AAP
$3.41B
| $51.2M | 5.8% |
249,608
| – | – |
|
10
Atlanta Braves Holdings Series B
BATRK
$3.44B
| $30.9M | 3.51% |
1,114,263
| – | – |
|
|
CSOD
11
DELISTED
Cornerstone OnDemand, Inc.
CSOD
| $27.3M | 3.09% |
528,761
+29,301
| +6% | +$1.36M |
|
|
VTNR
12
DELISTED
Vertex Energy, Inc
VTNR
| $19.8M | 2.25% |
1,500,000
| – | – |
|
13
Vertex
VERX
$2.06B
| $18.5M | 2.1% |
844,700
-20,000
| -2% | -$406K |
|
|
14
Cannae Holdings
CNNE
$635M
| $16.8M | 1.91% |
496,188
+123,600
| +33% | +$4.61M |
|
|
TLND
15
DELISTED
Talend S.A. American Depositary Shares
TLND
| $8.61M | 0.98% |
131,264
-288,255
| -69% | -$18.7M |
|
|
AYX
16
DELISTED
Alteryx Inc
AYX
| $6.38M | 0.72% |
74,149
+7,156
| +11% | +$585K |
|
17
Box
BOX
$4.52B
| – | – |
-185,787
| Closed | -$4.27M |
|
|
18
O'Reilly Automotive
ORLY
$73.7B
| – | – |
-294,810
| Closed | -$9.97M |
|
|
PS
19
DELISTED
Pluralsight, Inc. Class A Common Stock
PS
| – | – |
-150,337
| Closed | -$3.36M |
|
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Tensile Capital Management's Q2 2021 Portfolio in Review
As of Q2 2021, Tensile Capital Management held 19 positions worth $883M, up 16% from $762M the previous quarter. Its ten largest holdings account for 89% of the portfolio.
Tensile Capital Management deployed $35.7M of net new capital in Q2 2021, opening 1 new position and adding to 7 existing holdings. Its largest new stake was Tuesday Morning Corp: 671,953 shares worth $90.7M.
By sector, the portfolio is most concentrated in Consumer Discretionary at 47% of assets, down from 52% a quarter earlier, followed by Technology and Consumer Staples.
On the sell side, the largest reduction was Avalara, Inc., an estimated $21M trimmed.
- Tensile Capital Management's largest Q2 2021 buy was Tuesday Morning Corp: 671,953 shares worth $90.7M.
- Tensile Capital Management added most to Lithia Motors in Q2 2021, an estimated $5.42M increase.
- Tensile Capital Management's biggest Q2 2021 reduction was Avalara, Inc., cutting an estimated $21M.
- Tensile Capital Management fully exited O'Reilly Automotive in Q2 2021, selling an estimated $9.97M.
- Tensile Capital Management's ten largest holdings make up 89% of its $883M portfolio in Q2 2021.
- Tensile Capital Management opened 1 new position and closed 3 in Q2 2021.
- Tensile Capital Management's portfolio value rose 16% quarter-over-quarter to $883M.
Based on Tensile Capital Management's 13F filing for Q2 2021, filed 16 Aug 2021.