Engine Capital Management, LP
In its 13F for Q3 2025 (holdings as of September 30, 2025, filed November 14, 2025), Engine Capital Management, LP reported 27 stock positions worth $842.2 million. Its top holding was Avantor (AVTR) at 29.2% of the portfolio, followed by NCR Atleos (NATL, 11.2%) and Light & Wonder (LNWO, 9.6%). Compared with Q2 2025, it opened 2 new positions, sold out of 3, added to 8 and reduced 7. The biggest buy was Avantor (AVTR, shares +258%) and the biggest sale NCR Atleos (NATL, shares −0%).
- Most Recent 13F
- Q2 2026
- Location
- NEW YORK, NY
- CIK
- 0001665590
- Portfolio Value
- $842.2M (Q3 2025)
- SEC Filing
- 0001665590-25-000014 ↗ filed Nov 14, 2025
Holdings Value
Holdings 27 stocks · $842.2M
| AVTR Avantor Inc. | 29.22% | 19,720,430 | $246.1M | Add +258.3% |
| NATL NCR Atleos Corp. | 11.24% | 2,408,679 | $94.7M | Reduce -0.3% |
| LNWO Light & Wonder Inc. | 9.61% | 964,137 | $80.9M | Add +304.6% |
| ACHC Acadia Healthcare Co. Inc. | 7.60% | 2,585,574 | $64.0M | New |
| OFIX Orthofix Medical Inc. | 7.39% | 4,252,921 | $62.3M | Add +0.0% |
| KBR KBR Inc. | 6.09% | 1,084,728 | $51.3M | Add +31.4% |
| NXST Nexstar Media Group Inc. | 4.68% | 199,247 | $39.4M | Add +6.3% |
| MAGN Magnera Corp. | 3.76% | 2,702,041 | $31.7M | Add +8.9% |
| CVEO Civeo Corp. | 3.65% | 1,338,114 | $30.8M | No change |
| CZR Caesars Entertainment Inc. | 2.92% | 909,090 | $24.6M | No change |
| PRKS United Parks & Resorts Inc. | 2.68% | 436,397 | $22.6M | No change |
| SONO Sonos Inc. | 2.36% | 1,256,060 | $19.8M | New |
| FVRR Fiverr International Ltd. | 1.81% | 623,723 | $15.2M | Add +2366.2% |
| IWM iShares Russell 2000 ETF | 1.48% | 51,444 | $12.4M | Add +94.5% |
| UNF Unifirst Corp. | 1.23% | 62,099 | $10.4M | No change |
| PHIN Phinia Inc. | 1.16% | 170,622 | $9.8M | No change |
| AOUT American Outdoor Brands Inc. | 0.68% | 656,329 | $5.7M | No change |
| MGM MGM Resorts International | 0.62% | 150,000 | $5.2M | No change |
| BCO The Brink's Co. | 0.57% | 41,074 | $4.8M | No change |
| THS Treehouse Foods Inc. | 0.37% | 152,832 | $3.1M | No change |
| XRAY Dentsply Sirona Inc. | 0.21% | 138,409 | $1.8M | Reduce -26.6% |
| CIO City Office REIT Inc. | 0.19% | 231,020 | $1.6M | No change |
| CLDT Chatham Lodging Trust | 0.16% | 200,000 | $1.3M | Reduce -16.1% |
| LAUR Laureate Education Inc. | 0.15% | 39,041 | $1.2M | Reduce -79.3% |
| INN Summit Hotel Properties Inc. | 0.13% | 200,000 | $1.1M | Reduce -17.9% |
| EYE National Vision Holdings Inc. | 0.03% | 9,538 | $278K | Reduce -4.0% |
| RMNI Rimini Street Inc. | 0.01% | 17,416 | $82K | Reduce -43.2% |
Portfolio Sells Q2 2025 → Q3 2025
| NATL NCR Atleos Corp. | Reduce -0.3% | 11.24% | −3.31 |
| AMTM Amentum Holdings Inc. | Sold out | 0.00% | −3.17 |
| EVRI Everi Holdings Inc. | Sold out | 0.00% | −1.52 |
| LAUR Laureate Education Inc. | Reduce -79.3% | 0.15% | −0.79 |
| PSX Phillips 66 | Sold out | 0.00% | −0.50 |
| XRAY Dentsply Sirona Inc. | Reduce -26.6% | 0.21% | −0.42 |
| CLDT Chatham Lodging Trust | Reduce -16.1% | 0.16% | −0.19 |
| INN Summit Hotel Properties Inc. | Reduce -17.9% | 0.13% | −0.13 |
| EYE National Vision Holdings Inc. | Reduce -4.0% | 0.03% | −0.02 |
| RMNI Rimini Street Inc. | Reduce -43.2% | 0.01% | −0.01 |
Portfolio Buys Q2 2025 → Q3 2025
| AVTR Avantor Inc. | Add +258.3% | 29.22% | +13.57 |
| ACHC Acadia Healthcare Co. Inc. | New | 7.60% | +7.60 |
| LNWO Light & Wonder Inc. | Add +304.6% | 9.61% | +4.77 |
| SONO Sonos Inc. | New | 2.36% | +2.36 |
| FVRR Fiverr International Ltd. | Add +2366.2% | 1.81% | +1.65 |
| IWM iShares Russell 2000 ETF | Add +94.5% | 1.48% | +0.27 |
| NXST Nexstar Media Group Inc. | Add +6.3% | 4.68% | −2.17 |
| KBR KBR Inc. | Add +31.4% | 6.09% | −2.27 |
| MAGN Magnera Corp. | Add +8.9% | 3.76% | −2.57 |
| OFIX Orthofix Medical Inc. | Add +0.0% | 7.39% | −2.62 |
All Filings
| Quarter | Positions | 13F Reported Value | Top Holdings |
|---|---|---|---|
| Q2 2026 | 29 | $1.0B | AVTR, NATL, BCO, DNOW, EYE |
| Q1 2026 | 26 | $828.4M | AVTR, NATL, SUNC, DNOW, BCO |
| Q4 2025 | 28 | $724.2M | AVTR, NATL, UNF, SUNC, OFIX |
| Q3 2025 | 27 | $842.2M | AVTR, NATL, LNWO, ACHC, OFIX |
| Q2 2025 | 28 | $473.4M | AVTR, NATL, OFIX, KBR, NXST |
| Q1 2025 | 33 | $527.6M | OFIX, LKQ, NATL, EYE, MAGN |
| Q4 2024 | 36 | $546.8M | OFIX, NATL, LKQ, MAGN, FVRR |
| Q3 2024 | 38 | $577.0M | OFIX, UPWK, NATL, LAUR, CZR |
| Q2 2024 | 36 | $533.7M | RTX, OFIX, LAUR, MRC, NATL |
| Q1 2024 | 39 | $495.4M | RTX, MRC, OFIX, LAUR, DELL |