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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
+16.54%
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
$736M
AUM Growth
+$97.6M
(+15%)
Cap. Flow
-$9.71M
Cap. Flow
% of AUM
-1.32%
Top 10 Holdings %
Top 10 Hldgs %
88.4%
Holding
18
New
1
Increased
7
Reduced
6
Closed
2
Top Buys
| Rank | Stock | Value |
|---|---|---|
| 1 |
Workiva
WK
|
+$10.4M |
| 2 |
Crown Holdings
CCK
|
+$10.2M |
| 3 |
Donnelley Financial Solutions
DFIN
|
+$8.65M |
| 4 |
Alight
ALIT
|
+$7.64M |
| 5 |
Dick's Sporting Goods
DKS
|
+$3.81M |
Top Sells
| Rank | Stock | Value |
|---|---|---|
| 1 |
COUP
Coupa Software Incorporated
COUP
|
+$24M |
| 2 |
Lithia Motors
LAD
|
+$7.3M |
| 3 |
Valvoline
VVV
|
+$6.96M |
| 4 |
Academy Sports + Outdoors
ASO
|
+$5.89M |
| 5 |
Take-Two Interactive
TTWO
|
+$5.7M |
Sector Composition
| Rank | Sector | Weight |
|---|---|---|
| 1 | Consumer Discretionary | 50.83% |
| 2 | Technology | 38.94% |
| 3 | Communication Services | 6.65% |
| 4 | Real Estate | 2.07% |
| 5 | Consumer Staples | 0% |
| Name | Market Value | Portfolio Weight | Shares or Principal |
Change in Stake | Capital Flow | |
|---|---|---|---|---|---|---|
1
Vertex
VERX
$2.06B
| $124M | 16.77% |
5,970,258
| – | – |
|
|
2
Dick's Sporting Goods
DKS
$18.1B
| $89.6M | 12.17% |
631,804
+28,616
| +5% | +$3.81M |
|
|
3
Crown Holdings
CCK
$12.9B
| $81.4M | 11.05% |
984,050
+120,000
| +14% | +$10.2M |
|
|
4
Academy Sports + Outdoors
ASO
$2.98B
| $72.2M | 9.81% |
1,107,039
-100,000
| -8% | -$5.89M |
|
|
5
Valvoline
VVV
$4.36B
| $69.3M | 9.4% |
1,982,060
-200,000
| -9% | -$6.96M |
|
|
6
Lithia Motors
LAD
$8.3B
| $61.8M | 8.39% |
269,912
-30,000
| -10% | -$7.3M |
|
|
7
Alight
ALIT
$372M
| $55.4M | 7.52% |
300,820
+41,619
| +16% | +$7.64M |
|
8
Atlanta Braves Holdings Series B
BATRK
$3.44B
| $33.4M | 4.54% |
992,619
+47,426
| +5% | +$1.6M |
|
|
SMAR
9
DELISTED
Smartsheet Inc.
SMAR
| $32.4M | 4.39% |
676,900
+3,476
| +0.5% | +$151K |
|
10
BlackLine
BL
$1.77B
| $32M | 4.34% |
476,212
+49,191
| +12% | +$3.39M |
|
|
11
Donnelley Financial Solutions
DFIN
$1.2B
| $25M | 3.39% |
611,634
+203,336
| +50% | +$8.65M |
|
|
12
Take-Two Interactive
TTWO
$46.2B
| $15.5M | 2.11% |
130,323
-51,152
| -28% | -$5.7M |
|
13
Equinix
EQIX
$109B
| $15.2M | 2.07% |
21,142
-2,000
| -9% | -$1.41M |
|
|
14
Workiva
WK
$3.84B
| $11.8M | 1.6% |
+115,000
| New | +$10.4M |
|
|
EVBG
15
DELISTED
Everbridge, Inc. Common Stock
EVBG
| $6.76M | 0.92% |
194,954
-122,895
| -39% | -$3.93M |
|
|
COUP
16
DELISTED
Coupa Software Incorporated
COUP
| – | – |
-303,310
| Closed | -$24M |
|
|
TUEM
17
DELISTED
Tuesday Morning Corp
TUEM
| – | – |
-472,110
| Closed | -$323K |
|
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Tensile Capital Management's Q1 2023 Portfolio in Review
As of Q1 2023, Tensile Capital Management held 18 positions worth $736M, up 15% from $639M the previous quarter. Its ten largest holdings account for 88% of the portfolio.
Tensile Capital Management's Q1 2023 filing shows 1 new, 7 increased, 6 reduced and 2 closed positions. Its largest new stake was Workiva: 115,000 shares worth $11.8M. The largest sale was Coupa Software Incorporated, an estimated $24M.
By sector, the portfolio is most concentrated in Consumer Discretionary at 51% of assets, down from 53% a quarter earlier, followed by Technology and Communication Services.
- Tensile Capital Management's largest Q1 2023 buy was Workiva: 115,000 shares worth $11.8M.
- Tensile Capital Management added most to Crown Holdings in Q1 2023, an estimated $10.2M increase.
- Tensile Capital Management's biggest Q1 2023 reduction was Lithia Motors, cutting an estimated $7.3M.
- Tensile Capital Management fully exited Coupa Software Incorporated in Q1 2023, selling an estimated $24M.
- Tensile Capital Management's ten largest holdings make up 88% of its $736M portfolio in Q1 2023.
- Tensile Capital Management opened 1 new position and closed 2 in Q1 2023.
- Tensile Capital Management's portfolio value rose 15% quarter-over-quarter to $736M.
Based on Tensile Capital Management's 13F filing for Q1 2023, filed 15 May 2023.