Tensile Capital Management L.P. 13F annual report
Tensile Capital Management L.P. is an investment fund managing more than $859 million ran by Dan Katsikas. There are currently 17 companies in Mr. Katsikas’s portfolio. The largest investments include Avalara Inc and Lithia Motor Corp, together worth $257 million.
$859 million Assets Under Management (AUM)
As of 8th November 2021, Tensile Capital Management L.P.’s top holding is 899,540 shares of Avalara Inc currently worth over $157 million and making up 18.3% of the portfolio value.
Relative to the number of outstanding shares of Avalara Inc, Tensile Capital Management L.P. owns more than approximately 0.1% of the company.
In addition, the fund holds 315,045 shares of Lithia Motor Corp worth $99.9 million.
The third-largest holding is Crown Holdings Inc Com Stk worth $85.3 million and the next is Valvoline Inc worth $79.4 million, with 2,545,721 shares owned.
Currently, Tensile Capital Management L.P.'s portfolio is worth at least $859 million. The total portfolio value may be much higher due to cash
assets that are not publicly disclosed such as fixed income, real estate, or cash equivalents.
Careers at Tensile Capital Management L.P.
The Tensile Capital Management L.P. office and employees reside in Larkspur, California. According to the last 13-F report filed with the SEC, Dan Katsikas serves as the Chief Compliance Officer at Tensile Capital Management L.P..
Recent trades
In the most recent 13F filing, Tensile Capital Management L.P. revealed that it had opened a new position in
Academy Sports & Outdoors and bought 762,695 shares worth $30.5 million.
This means they effectively own approximately 0.1% of the company.
Academy Sports & Outdoors makes up
19.3%
of the fund's Consumer Discretionary sector allocation and has decreased its share price by approximately 0.1% in the past year.
The investment fund also strengthened its position in Valvoline Inc by buying
79,306 additional shares.
This makes their stake in Valvoline Inc total 2,545,721 shares worth $79.4 million.
Valvoline Inc dropped approximately 0.1% in the past year.
On the other hand, there are companies that Tensile Capital Management L.P. is getting rid of from its portfolio.
Tensile Capital Management L.P. closed its position in Talend SA on 15th November 2021.
It sold the previously owned 131,264 shares for $8.61 million.
Dan Katsikas also disclosed a decreased stake in Avalara Inc by approximately 0.1%.
This leaves the value of the investment at $157 million and 899,540 shares.
One of the average hedge funds
The two most similar investment funds to Tensile Capital Management L.P. are Essex Investment Management Co and Graham Capital Management, L.P.. They manage $860 million and $859 million respectively.
Dan Katsikas investment strategy
Tensile Capital Management L.P.’s portfolio is diversified across 10 sectors.
Currently, their heaviest sector is Technology — making up 21.8% of
the total portfolio value.
The fund focuses on investments in the United States as
70.6% of the portfolio companies
are based in the United States.
The majority of the companies in the fund’s portfolio are large-cap stocks.
Stocks with a size of more than $10 billion in market cap make up
29% of the total holdings value.
On the other hand, small-cap stocks make up 11.8% of the portfolio.
The average market cap of the portfolio companies is close to $12.1 billion.
The complete list of Tensile Capital Management L.P. trades based on 13F SEC filings
These positions were updated on November 15th based on the fund’s latest 13F filing. Quickly find out what the most recently closed or increased positions are.
| Security | Shares Owned | Value | Allocation |
|---|---|---|---|
| Avalara Inc |
6.82%
899,540
|
$157,213,000 | 18.29% |
| Lithia Motor Corp |
4.42%
315,045
|
$99,882,000 | 11.62% |
| Crown Holdings Inc Com Stk |
No change
846,195
|
$85,280,000 | 9.92% |
| Valvoline Inc |
3.22%
2,545,721
|
$79,376,000 | 9.24% |
| Dicks Sporting Goods, Inc. |
3.48%
631,831
|
$75,674,000 | 8.80% |
| Take-Two Interactive Software, Inc. |
16.40%
390,298
|
$60,133,000 | 7.00% |
| Tuesday Morning Corp. |
No change
20,158,593
|
$56,444,000 | 6.57% |
| Advance Auto Parts Inc |
0.68%
247,916
|
$51,787,000 | 6.03% |
| Equinix Inc |
No change
64,042
|
$50,602,000 | 5.89% |
| Academy Sports & Outdoors, Inc. |
Opened
762,695
|
$30,523,000 | 3.55% |
| Liberty Braves Group -c |
No change
1,114,263
|
$29,439,000 | 3.43% |
| Cornerstone OnDemand Inc |
15.87%
444,824
|
$25,471,000 | 2.96% |
| Cannae Holdings Inc |
32.25%
656,188
|
$20,414,000 | 2.38% |
| Vertex Inc |
2.37%
824,700
|
$15,851,000 | 1.84% |
| Change Healthcare Inc. |
Opened
522,325
|
$10,937,000 | 1.27% |
| Talend SA |
Closed
131,264
|
$8,611,000 | |
| Vertex Energy Inc |
31.34%
1,029,943
|
$5,397,000 | 0.63% |
| Alteryx Inc |
7.32%
68,718
|
$5,023,000 | 0.58% |
| No transactions found | |||
| Showing first 500 out of 18 holdings | |||
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