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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
-2.4%
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
$795M
AUM Growth
+$22.2M
(+2.9%)
Cap. Flow
+$55M
Cap. Flow
% of AUM
6.91%
Top 10 Holdings %
Top 10 Hldgs %
81.72%
Holding
19
New
1
Increased
11
Reduced
5
Closed
2
Top Buys
| Rank | Stock | Value |
|---|---|---|
| 1 |
US Foods
USFD
|
+$22.9M |
| 2 |
Q2 Holdings
QTWO
|
+$20M |
| 3 |
nCino
NCNO
|
+$13.5M |
| 4 |
Valvoline
VVV
|
+$12.8M |
| 5 |
SMAR
Smartsheet Inc.
SMAR
|
+$10.6M |
Top Sells
| Rank | Stock | Value |
|---|---|---|
| 1 |
Crown Holdings
CCK
|
+$16.7M |
| 2 |
Workiva
WK
|
+$11.7M |
| 3 |
Donnelley Financial Solutions
DFIN
|
+$10.3M |
| 4 |
Take-Two Interactive
TTWO
|
+$9.49M |
| 5 |
Lithia Motors
LAD
|
+$3.94M |
Sector Composition
| Rank | Sector | Weight |
|---|---|---|
| 1 | Consumer Discretionary | 44.16% |
| 2 | Technology | 43.94% |
| 3 | Communication Services | 4.95% |
| 4 | Consumer Staples | 3.74% |
| 5 | Real Estate | 3.21% |
| Name | Market Value | Portfolio Weight | Shares or Principal |
Change in Stake | Capital Flow | |
|---|---|---|---|---|---|---|
1
Vertex
VERX
$2.06B
| $134M | 16.87% |
5,806,717
-60,000
| -1% | -$1.23M |
|
2
Dick's Sporting Goods
DKS
$18.1B
| $77.7M | 9.77% |
715,648
+5,228
| +0.7% | +$662K |
|
|
3
Valvoline
VVV
$4.36B
| $77.3M | 9.72% |
2,397,060
+363,725
| +18% | +$12.8M |
|
|
4
Lithia Motors
LAD
$8.3B
| $70M | 8.8% |
236,975
-12,937
| -5% | -$3.94M |
|
|
5
Crown Holdings
CCK
$12.9B
| $67.1M | 8.44% |
758,174
-185,876
| -20% | -$16.7M |
|
6
Academy Sports + Outdoors
ASO
$2.98B
| $59.1M | 7.43% |
1,249,884
+15,000
| +1% | +$803K |
|
7
Alight
ALIT
$372M
| $49.5M | 6.23% |
349,162
+40,210
| +13% | +$6.75M |
|
|
SMAR
8
DELISTED
Smartsheet Inc.
SMAR
| $44.3M | 5.57% |
1,094,516
+257,616
| +31% | +$10.6M |
|
9
Atlanta Braves Holdings Series B
BATRK
$3.44B
| $39.4M | 4.95% |
1,102,619
+110,000
| +11% | +$4.16M |
|
10
BlackLine
BL
$1.77B
| $31.4M | 3.95% |
565,945
-48,833
| -8% | -$2.67M |
|
|
11
US Foods
USFD
$23.6B
| $29.8M | 3.74% |
749,714
+553,600
| +282% | +$22.9M |
|
|
12
Q2 Holdings
QTWO
$4.04B
| $28.6M | 3.6% |
886,517
+602,273
| +212% | +$20M |
|
13
Equinix
EQIX
$109B
| $25.5M | 3.21% |
35,142
+10,000
| +40% | +$7.74M |
|
|
14
Donnelley Financial Solutions
DFIN
$1.2B
| $22.4M | 2.82% |
398,406
-213,228
| -35% | -$10.3M |
|
|
15
nCino
NCNO
$2.28B
| $21.6M | 2.71% |
678,118
+438,356
| +183% | +$13.5M |
|
|
EVBG
16
DELISTED
Everbridge, Inc. Common Stock
EVBG
| $14M | 1.76% |
624,716
+299,762
| +92% | +$7.73M |
|
|
LGTY
17
DELISTED
Logility Supply Chain Solutions, Inc. Common Stock
LGTY
| $3.48M | 0.44% |
+303,705
| New | +$3.37M |
|
|
18
Take-Two Interactive
TTWO
$46.2B
| – | – |
-64,475
| Closed | -$9.49M |
|
|
19
Workiva
WK
$3.84B
| – | – |
-115,000
| Closed | -$11.7M |
|
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ACGDR
Tensile Capital Management's Q3 2023 Portfolio in Review
As of Q3 2023, Tensile Capital Management held 19 positions worth $795M, up 2.9% from $773M the previous quarter. Its ten largest holdings account for 82% of the portfolio.
Tensile Capital Management deployed $55M of net new capital in Q3 2023, opening 1 new position and adding to 11 existing holdings. Its largest new stake was Logility Supply Chain Solutions, Inc. Common Stock: 303,705 shares worth $3.48M.
By sector, the portfolio is most concentrated in Consumer Discretionary at 44% of assets, down from 51% a quarter earlier, followed by Technology and Communication Services.
On the sell side, the largest reduction was Crown Holdings, an estimated $16.7M trimmed.
- Tensile Capital Management's largest Q3 2023 buy was Logility Supply Chain Solutions, Inc. Common Stock: 303,705 shares worth $3.48M.
- Tensile Capital Management added most to US Foods in Q3 2023, an estimated $22.9M increase.
- Tensile Capital Management's biggest Q3 2023 reduction was Crown Holdings, cutting an estimated $16.7M.
- Tensile Capital Management fully exited Workiva in Q3 2023, selling an estimated $11.7M.
- Tensile Capital Management's ten largest holdings make up 82% of its $795M portfolio in Q3 2023.
- Tensile Capital Management opened 1 new position and closed 2 in Q3 2023.
- Tensile Capital Management's portfolio value rose 2.9% quarter-over-quarter to $795M.
Based on Tensile Capital Management's 13F filing for Q3 2023, filed 14 Nov 2023.