Engaged Capital

Q2 2022 13F · by Glenn Welling, CIO

As of: Jun 30, 2022
Filed: Aug 15, 2022
US stock: $651M · prev $988M
Positions: 7 · prev 8
Options notional: $0
Documents: 1· no amendments

Picture100.0% US stock

Full picture · of what this 13F reports is US stock

US stock listed on a US exchange 100.0%
Foreign stock not listed in the US 0.0%
Notes debt, at principal 0.0%
Puts at notional value 0.0%
Calls at notional value 0.0%

Moves6 since the prior filing

+11.9 pp in · −14.9 pp out

New 0 0.00 pp
Added 1 +11.91 pp
Trimmed 3 −10.63 pp
Exited 1 −4.29 pp

Options: 1 move on a notional base, in the table below.

The book

Very concentrated · behaves like 5 equal-sized positions

Very concentrated
Concentrated
Focused
Diversified

Moderate turnover · 44% a year, about 2.3 years per position

Low
Moderate
High

Top 5 positions90% of US stock

EVH Evolent Health, Inc Class A trimmed+5.65 pp trimmed+5.6529.0%
VYX NCR Voyix Corporation held held21.3%
NEWR New Relic, Inc. added+11.91 pp added+11.9118.7%
BRCC BRC Inc. trimmed−19.93 pp trimmed−19.9313.9%
STKL SunOpta, Inc. trimmed+3.65 pp trimmed+3.657.3%

Positions7 in this filing · 1 exited


EVHEvolent Health, Inc Class A	29.02%	6,154,821	$189M	trimmed−14%	+5.65 pp	8 q
VYXNCR Voyix Corporation	21.27%	4,452,456	$139M	held	—	20 q
NEWRNew Relic, Inc.	18.68%	2,430,370	$122M	added×2.4	+11.91 pp	5 q
BRCCBRC Inc.	13.94%	11,125,000	$91M	trimmed−31%	−19.93 pp	2 q
STKLSunOpta, Inc.	7.28%	6,091,919	$47M	trimmed−15%	+3.65 pp	25 q
UPBDUpbound Group, Inc.	7.03%	2,355,730	$46M	held	—	23 q
QUOTQuotient Technology Inc	2.78%	6,107,150	$18M	held	—	7 q
HAINHain Celestial Group Inc	—	−1,231,261	—	exited	−4.29 pp	—

Source

Form: 13F-HR
Reading: 0 defects · 0 unresolved
Accession: 0000921895-22-002461
Options: none in this filing
Notes: none in this filing
SEC cross-check: SEC data set not published yet