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TCM

Tensile Capital Management Portfolio holdings

AUM $724M
1-Year Est. Return 3.48%
This Fund
S&P 500
This Quarter Est. Return
+10.55%
1 Year Est. Return
+3.48%
3 Year Est. Return
+47.67%
5 Year Est. Return
+51.96%
10 Year Est. Return
+547.1%
AUM
$925M
AUM Growth
+$18M
Cap. Flow
-$66.2M
Cap. Flow %
-7.16%
Top 10 Hldgs %
80.62%
Holding
21
New
1
Increased
3
Reduced
9
Closed
4

Top Buys

Rank Stock Value
1
PRO
PROS Holdings
PRO
+$19.3M
2
NCNO icon
nCino
NCNO
+$5.7M
3
LAD icon
Lithia Motors
LAD
+$1.74M
4
RUSHA icon
Rush Enterprises Class A
RUSHA
+$1.7M

Top Sells

Rank Stock Value
1
VERX icon
Vertex
VERX
+$21.4M
2
CNH
CNH Industrial
CNH
+$9.23M
3
SMAR
Smartsheet Inc.
SMAR
+$9.03M
4
WK icon
Workiva
WK
+$8.54M
5
CCK icon
Crown Holdings
CCK
+$8.01M

Sector Composition

Rank Sector Weight
1 Technology 49.67%
2 Consumer Discretionary 37.44%
3 Consumer Staples 6.19%
4 Communication Services 4.21%
5 Real Estate 2.48%
Name Market Value Portfolio Weight Shares or Principal Change
in Stake 		Capital Flow
VERX icon
1
Vertex
VERX
$1.91B
$156M 16.88%
4,053,550
-580,000
-13% -$21.4M
DKS icon
2
Dick's Sporting Goods
DKS
$13.2B
$89.1M 9.63%
426,844
-28,000
-6% -$5.98M
LAD icon
3
Lithia Motors
LAD
$6.42B
$83.1M 8.98%
261,527
+6,252
+2% +$1.74M
VVV icon
4
Valvoline
VVV
$3.85B
$78.5M 8.49%
1,875,179
-58,272
-3% -$2.48M
QTWO icon
5
Q2 Holdings
QTWO
$3.46B
$74.4M 8.05%
932,767
– –
ALIT icon
6
Alight
ALIT
$236M
$59.4M 6.42%
401,433
– –
CCK icon
7
Crown Holdings
CCK
$11.5B
$59M 6.38%
615,074
-93,000
-13% -$8.01M
USFD icon
8
US Foods
USFD
$19.9B
$57.3M 6.19%
931,314
-25,000
-3% -$1.4M
SMAR
9
DELISTED
Smartsheet Inc.
SMAR
$48.7M 5.27%
879,816
-186,360
-17% -$9.03M
NCNO icon
10
nCino
NCNO
$1.92B
$40.1M 4.33%
1,268,734
+180,000
+17% +$5.7M
BATRK icon
11
Atlanta Braves Holdings Series B
BATRK
$3.4B
$39M 4.21%
978,907
– –
BL icon
12
BlackLine
BL
$1.54B
$35.1M 3.79%
635,997
-139,900
-18% -$6.89M
ASO icon
13
Academy Sports + Outdoors
ASO
$2.96B
$34.8M 3.77%
597,039
-85,000
-12% -$4.64M
WK icon
14
Workiva
WK
$3.62B
$24.1M 2.61%
304,605
-113,716
-27% -$8.54M
EQIX icon
15
Equinix
EQIX
$99.8B
$23M 2.49%
25,892
– –
PRO
16
DELISTED
PROS Holdings
PRO
$21.5M 2.33%
1,161,301
+915,990
+373% +$19.3M
RUSHA icon
17
Rush Enterprises Class A
RUSHA
$5.35B
$1.81M 0.2%
+51,531
New +$1.7M
DFIN icon
18
Donnelley Financial Solutions
DFIN
$1.16B
– –
-74,109
Closed -$4.42M
DRVN icon
19
Driven Brands
DRVN
$1.95B
– –
-450,000
Closed -$5.73M
CNH
20
CNH Industrial
CNH
$20.7B
– –
-911,029
Closed -$9.23M
EVBG
21
DELISTED
Everbridge, Inc. Common Stock
EVBG
– –
-200,000
Closed -$7M

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PAI
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M
Murchinson Toronto, Ontario, Canada $725M AUM 82.02% 1-Year Est. Return
IA
IFG Advisors St. Louis, Missouri $725M AUM 27.52% 1-Year Est. Return
SP
Stablepoint Partners Braintree, Massachusetts $723M AUM 29.31% 1-Year Est. Return
SFG
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CCP
Clifford Capital Partners Alpine, Utah $727M AUM 28.47% 1-Year Est. Return
BCV
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AO
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Tensile Capital Management's Q3 2024 Portfolio in Review

As of Q3 2024, Tensile Capital Management held 21 positions worth $925M, up 2% from $907M the previous quarter. Its ten largest holdings account for 81% of the portfolio.

Tensile Capital Management withdrew a net $66.2M in Q3 2024, closing 4 positions and reducing 9 holdings. Its most notable exit was CNH Industrial, an estimated $9.23M position sold in full.

By sector, the portfolio is most concentrated in Technology at 50% of assets, up from 49% a quarter earlier, followed by Consumer Discretionary and Consumer Staples.

Against the trend, Tensile Capital Management opened a new position in Rush Enterprises Class A worth $1.81M.

  • Tensile Capital Management's largest Q3 2024 buy was Rush Enterprises Class A: 51,531 shares worth $1.81M.
  • Tensile Capital Management added most to PROS Holdings in Q3 2024, an estimated $19.3M increase.
  • Tensile Capital Management's biggest Q3 2024 reduction was Vertex, cutting an estimated $21.4M.
  • Tensile Capital Management fully exited CNH Industrial in Q3 2024, selling an estimated $9.23M.
  • Tensile Capital Management's ten largest holdings make up 81% of its $925M portfolio in Q3 2024.
  • Tensile Capital Management opened 1 new position and closed 4 in Q3 2024.
  • Tensile Capital Management's portfolio value rose 2% quarter-over-quarter to $925M.

Based on Tensile Capital Management's 13F filing for Q3 2024, filed 14 Nov 2024.