Tensile Capital Management LP 13F: Quarter-over-Quarter Portfolio Changes
Tensile Capital Management LP reported a disclosed portfolio value of approximately $698.5 million in its latest SEC Form 13F-HR filing for Q1 2026, down 9.5% quarter on quarter. Over the quarter, the fund initiated 6 new positions, bought more shares in 3 holdings, trimmed 11 holdings, and exited 5 positions.
Tensile Capital Management LP's top buy was a new stake in Tyler Technologies INC (TYL) , equal to 2.5% of the disclosed portfolio. Its top sell was Clearwater Analytics Holdings INC (CWAN) . The fund sold 62.8% of its previously reported shares, reducing the position's portfolio weight by 4.4 percentage points.
New PositionsQ1 2026
Securities disclosed for the first time in Q1 2026 that were not present in the prior 13F-HR filing.
| Company | Ticker | Initial Portfolio Weight | History |
|---|---|---|---|
| TYLER TECHNOLOGIES INC | TYL | 2.5% | Holders → |
| CAVCO INDUSTRIES INC | CVCO | 2.3% | Holders → |
| COMPASS INC | COMP | 2.1% | Holders → |
| APPFOLIO INC | APPF | 1.2% | Holders → |
| CELLEBRITE DI LTD | CLBT | 1.0% | Holders → |
| FOX FACTORY HOLDING CORP | FOXF | 0.6% | Holders → |
Top BuysQ1 2026
The fund's top buys among existing positions in Q1 2026. Ranked by portfolio-weight impact, with the percentage of additional shares shown separately.
| Company | Ticker | Portfolio Weight Change | More Shares | History |
|---|---|---|---|---|
| U-HAUL HOLDING CO | UHAL/B | +2.1% | +501.6% | — |
| WATERBRIDGE INFRASTRUCTURE LLC | WBI | +2.4% | +86.2% | Holders → |
| Q2 HOLDINGS INC | QTWO | +-0.3% | +30.9% | History → |
Top SellsQ1 2026
Showing the top 10 sells among 11 existing positions where the fund sold shares in Q1 2026. Ranked by portfolio-weight impact. Full exits are listed separately.
| Company | Ticker | Portfolio Weight Change | Shares Sold | History |
|---|---|---|---|---|
| CLEARWATER ANALYTICS HOLDINGS INC | CWAN | -4.4% | 62.8% | Holders → |
| US FOODS HOLDING CORP | USFD | -0.3% | 29.2% | History → |
| CROWN HOLDINGS INC | CCK | -1.9% | 28.9% | History → |
| NOBLE CORP PLC | NE | 0.9% | 24.6% | Holders → |
| CHAMPION HOMES INC | SKY | -0.5% | 15.1% | Holders → |
| CENTURI HOLDINGS INC | CTRI | 0.6% | 14.7% | History → |
| NCINO INC | NCNO | -1.4% | 7.4% | Holders → |
| EQUINIX INC | EQIX | 0.9% | 5.4% | Holders → |
| BLACKLINE INC | BL | -1.7% | 5.1% | History → |
| LITHIA MOTORS INC | LAD | -1.7% | 0.8% | History → |
Full ExitsQ1 2026
Positions present in the prior 13F-HR filing that no longer appear in Q1 2026.
| Company | Ticker | Last-Reported Portfolio Weight |
|---|---|---|
| VALARIS LTD | VAL | 2.2% |
| ONESTREAM INC | K4F | 1.3% |
| ARCBEST CORP | ARCB | 0.8% |
| ACADEMY SPORTS & OUTDOORS IN | ASO | 0.5% |
| U-HAUL HOLDING COMPANY | UHAL | 0.2% |
Net Portfolio Value ChangeQ1 2026
- $0.8BPrior quarter
- $0.7BCurrent quarter
- $-0.1BNet delta
- -9.5%% change
Methodology & FAQ
How Tensile Capital Management LP Quarterly Changes Are Computed
All deltas are sourced from sequential SEC Form 13F-HR filings for Tensile Capital Management LP: each row joins the most recent filing against the immediately preceding quarterly filing for the same fund. Share-count changes reflect reported trading activity, while portfolio weights can also move because of market price changes. Portfolio weights are normalized to exclude listed options for comparability. A complete description — including how confidential treatment filings are handled — is documented in the Methodology.
What stocks did Tensile Capital Management LP buy in Q1 2026?
In Q1 2026, Tensile Capital Management LP initiated 6 new positions (TYLER TECHNOLOGIES INC (TYL), CAVCO INDUSTRIES INC (CVCO), COMPASS INC (COMP), APPFOLIO INC (APPF), CELLEBRITE DI LTD (CLBT), FOX FACTORY HOLDING CORP (FOXF)); bought more shares of U-HAUL HOLDING CO (UHAL/B), WATERBRIDGE INFRASTRUCTURE LLC (WBI), Q2 HOLDINGS INC (QTWO).
What stocks did Tensile Capital Management LP sell in Q1 2026?
In Q1 2026, Tensile Capital Management LP fully sold 5 positions (VALARIS LTD (VAL), ONESTREAM INC (K4F), ARCBEST CORP (ARCB), ACADEMY SPORTS & OUTDOORS IN (ASO), U-HAUL HOLDING COMPANY (UHAL)); reduced holdings in CLEARWATER ANALYTICS HOLDINGS INC (CWAN), US FOODS HOLDING CORP (USFD), CROWN HOLDINGS INC (CCK), NOBLE CORP PLC (NE), CHAMPION HOMES INC (SKY) — the largest 5 of 11 reductions.
Which positions did Tensile Capital Management LP initiate in Q1 2026?
Tensile Capital Management LP established 6 new positions in Q1 2026: TYLER TECHNOLOGIES INC (TYL, 2.5%), CAVCO INDUSTRIES INC (CVCO, 2.3%), COMPASS INC (COMP, 2.1%), APPFOLIO INC (APPF, 1.2%), CELLEBRITE DI LTD (CLBT, 1.0%), FOX FACTORY HOLDING CORP (FOXF, 0.6%).
Which existing positions saw the largest allocation increases for Tensile Capital Management LP in Q1 2026?
Of 3 existing positions with share-count increases in Q1 2026, the largest were: U-HAUL HOLDING CO (UHAL/B, +2.1% weight, +501.6% shares), WATERBRIDGE INFRASTRUCTURE LLC (WBI, +2.4% weight, +86.2% shares), Q2 HOLDINGS INC (QTWO, +-0.3% weight, +30.9% shares).
Which positions did Tensile Capital Management LP fully exit in Q1 2026?
Tensile Capital Management LP fully exited 5 positions in Q1 2026: VALARIS LTD (VAL, last-reported weight 2.2%), ONESTREAM INC (K4F, last-reported weight 1.3%), ARCBEST CORP (ARCB, last-reported weight 0.8%), ACADEMY SPORTS & OUTDOORS IN (ASO, last-reported weight 0.5%), U-HAUL HOLDING COMPANY (UHAL, last-reported weight 0.2%).
Which existing positions saw the largest allocation reductions for Tensile Capital Management LP in Q1 2026?
Of 11 existing positions with share-count reductions in Q1 2026, the largest were: CLEARWATER ANALYTICS HOLDINGS INC (CWAN, -4.4% weight, -62.8% shares), US FOODS HOLDING CORP (USFD, -0.3% weight, -29.2% shares), CROWN HOLDINGS INC (CCK, -1.9% weight, -28.9% shares), NOBLE CORP PLC (NE, 0.9% weight, -24.6% shares), CHAMPION HOMES INC (SKY, -0.5% weight, -15.1% shares), CENTURI HOLDINGS INC (CTRI, 0.6% weight, -14.7% shares), NCINO INC (NCNO, -1.4% weight, -7.4% shares), EQUINIX INC (EQIX, 0.9% weight, -5.4% shares), BLACKLINE INC (BL, -1.7% weight, -5.1% shares), LITHIA MOTORS INC (LAD, -1.7% weight, -0.8% shares).
Do quarter-over-quarter 13F allocation changes constitute explicit trading signals?
No. Quarter-over-quarter changes reflect a combination of active trading and market price movement. A weight increase can result from price appreciation alone, without the manager adding shares. Share-count delta is the cleaner indicator of explicit trading activity. All deltas on this page are sourced from sequential SEC Form 13F-HR filings.