Tensile Capital Management LP
In its 13F for Q1 2025 (holdings as of March 31, 2025, filed May 15, 2025), Tensile Capital Management LP reported 18 stock positions worth $783.8 million. Its top holding was Vertex Class A (VERX) at 16.3% of the portfolio, followed by Dick's Sporting Goods (DKS, 9.7%) and Lithia Motors (LAD, 8.8%). Compared with Q4 2024, it opened 2 new positions, sold out of 1, added to 4 and reduced 9. The biggest buy was a new position in Valaris (VAL) and the biggest sale Vertex Class A (VERX, shares −3%).
- Most Recent 13F
- Q2 2026
- Location
- LARKSPUR, CA
- CIK
- 0001598843
- Portfolio Value
- $783.8M (Q1 2025)
- SEC Filing
- 0001214659-25-007850 ↗ filed May 15, 2025
Holdings Value
Holdings 18 stocks · $783.8M
| VERX Vertex Inc. Class A | 16.35% | 3,660,474 | $128.2M | Reduce -2.9% |
| DKS Dick's Sporting Goods Inc. | 9.74% | 378,844 | $76.4M | Reduce -11.3% |
| LAD Lithia Motors Inc. | 8.82% | 235,527 | $69.1M | No change |
| QTWO Q2 Holdings Inc. filed as Q2 HLDGS INC | 8.80% | 861,767 | $69.0M | Reduce -0.7% |
| VVV Valvoline Inc. | 8.73% | 1,965,179 | $68.4M | Add +6.8% |
| CCK Crown Holdings Inc. | 6.89% | 605,430 | $54.0M | Reduce -1.6% |
| USFD US Foods Holding Corp. | 6.88% | 824,042 | $53.9M | Reduce -2.6% |
| NCNO Ncino Inc. | 5.71% | 1,628,734 | $44.7M | Add +14.0% |
| BL Blackline Inc. | 5.38% | 871,485 | $42.2M | Add +17.6% |
| ALIT Alight Inc. Class A | 4.95% | 6,542,676 | $38.8M | Reduce -0.5% |
| BATRK Atlanta Braves Holdings in-C | 4.51% | 883,907 | $35.4M | Reduce -9.7% |
| VAL Valaris Ltd. | 3.31% | 660,000 | $25.9M | New |
| EQIX Equinix Inc. | 2.69% | 25,892 | $21.1M | No change |
| PRO Pros Holdings Inc. | 2.46% | 1,012,362 | $19.3M | Add +0.7% |
| WK Workiva Inc. | 2.08% | 215,269 | $16.3M | Reduce -9.7% |
| ASO Academy Sports & Outdoors Inc. | 1.64% | 282,039 | $12.9M | Reduce -46.5% |
| HOS Hornbeck Offshore Services I filed as HELIX ENERGY SOLUTIONS GRP I | 0.82% | 773,162 | $6.4M | New |
| RUSHA Rush Enterprises Inc. Class A | 0.23% | 34,354 | $1.8M | No change |
Portfolio Sells Q4 2024 → Q1 2025
| VERX Vertex Inc. Class A | Reduce -2.9% | 16.35% | −4.54 |
| SMAR Smartsheet Inc. Class A | Sold out | 0.00% | −3.84 |
| ASO Academy Sports & Outdoors Inc. | Reduce -46.5% | 1.64% | −1.51 |
| WK Workiva Inc. | Reduce -9.7% | 2.08% | −0.63 |
| DKS Dick's Sporting Goods Inc. | Reduce -11.3% | 9.74% | −0.41 |
| QTWO Q2 Holdings Inc. | Reduce -0.7% | 8.80% | −0.28 |
| ALIT Alight Inc. Class A | Reduce -0.5% | 4.95% | +0.22 |
| BATRK Atlanta Braves Holdings in-C | Reduce -9.7% | 4.51% | +0.62 |
| USFD US Foods Holding Corp. | Reduce -2.6% | 6.88% | +0.95 |
| CCK Crown Holdings Inc. | Reduce -1.6% | 6.89% | +1.61 |
Portfolio Buys Q4 2024 → Q1 2025
All Filings
| Quarter | Positions | 13F Reported Value | Top Holdings |
|---|---|---|---|
| Q2 2026 | 22 | $724.3M | DKS, TYL, LAD, VVV, COMP |
| Q1 2026 | 25 | $698.5M | DKS, VVV, LAD, USFD, CTRI |
| Q4 2025 | 24 | $772.0M | LAD, DKS, VERX, CCK, VVV |
| Q3 2025 | 22 | $800.4M | VERX, DKS, VVV, LAD, USFD |
| Q2 2025 | 21 | $828.5M | VERX, VVV, DKS, LAD, QTWO |
| Q1 2025 | 18 | $783.8M | VERX, DKS, LAD, QTWO, VVV |
| Q4 2024 | 17 | $962.5M | VERX, DKS, QTWO, LAD, VVV |
| Q3 2024 | 17 | $924.9M | VERX, DKS, LAD, VVV, QTWO |
| Q2 2024 | 20 | $906.9M | VERX, DKS, VVV, LAD, ALIT |
| Q1 2024 | 19 | $913.7M | VERX, DKS, VVV, LAD, ALIT |