Tensile Capital Management LP

CIK

1598843

Location

LARKSPUR, CA

Portfolio Value

Small $739,341,308

Diversification

Diversified

Filing Date

Global Rank

#1,965 / 8,420 ▲ 117

Top Industry

Software - Application 34.3%

3Y Alpha vs SPY

-16.3%

Period ended 6 months ago

Filed Feb 17, 2026 · 4mo

24 quarters · since Mar 2020

Clone Performance

Jun 2023–Jun 2026 · vs SPY

Hypothetical growth of cloning every reported 13F position and rebalancing on each filing, indexed to the same start.

Cloned portfolio

+15.5%

SPY

+76.3%

Annualised alpha

-15.9%

Max drawdown

−32.5%

Estimate. 13F holdings are quarter-lagged and long-only, so the clone rebalances about 45 days after each period end — when the filing becomes public — and excludes options and short positions. Past performance does not predict future results.

Portfolio Concentration

22 positions · as of Dec 31, 2025 · Δ vs Sep 30, 2025

Top Position

10.1%

−2.5 pts

Top 5

45.7%

−5.4 pts

Top 10

80.1%

−0.6 pts

HHI

706

Diversified−60

Portfolio Trend

24 quarters · across all stocks

Sector Breakdown

As of Dec 31, 2025

Sector	% Portfolio	Value	Positions
Consumer Cyclical	39.8%	$294,326,280	6
Technology	35.6%	$263,217,377	7
Consumer Defensive	7.8%	$57,547,643	1
Energy	6.5%	$47,966,836	4
Utilities	6.4%	$47,122,635	1
Real Estate	2.9%	$21,369,734	1
Industrials	1.1%	$7,790,803	2

Last Quarter's Activity

Export CSV

Dec 31, 2025 vs Sep 30, 2025

Added To

Positions the filer increased

6 positions

Ticker	Company	Δ Shares	Shares	Value
CTRI	Centuri Holdings, Inc.	+1,054,155	1,866,243	$47,122,635
WBI	WaterBridge Infrastructure LLC	+228,806	528,806	$10,581,408
NCNO	nCino, Inc.	+183,603	1,085,142	$27,823,040
CCK	Crown Holdings, Inc.	+79,000	612,165	$63,034,630
NE	Noble Corp plc	+76,764	529,375	$14,949,550
VVV	Valvoline Inc	+20,000	2,098,843	$60,992,377
No positions match the current search.

Trimmed

Positions the filer reduced

10 positions

Ticker	Company	Δ Shares	Shares	Value
ALIT	Alight, Inc. / Delaware	−3,188,422	3,760,472	$7,332,920
HLX	Helix Energy Solutions Group Inc	−441,013	849,946	$5,329,161
VERX	Vertex, Inc.	−384,415	3,419,994	$68,297,280
CWAN	Clearwater Analytics Holdings, Inc.	−159,998	2,364,674	$57,035,936
ASO	Academy Sports & Outdoors, Inc.	−119,836	75,039	$3,748,948
QTWO	Q2 Holdings, Inc.	−100,000	679,767	$49,051,986
SKY	Champion Homes, Inc.	−59,600	248,562	$21,003,489
VAL	Valaris Ltd	−50,000	339,419	$17,106,717
BL	Blackline, Inc.	−21,740	790,945	$43,731,349
LAD	Lithia Motors Inc	−10,737	224,790	$74,704,460
No positions match the current search.

New Positions

Positions the filer opened this quarter

3 positions

Ticker	Company	Shares	Value
OS	OneStream, Inc.	541,070	$9,944,866
ARCB	Arcbest Corp /De/	81,230	$6,026,453
UHAL	U-Haul Holding Co /NV/	35,000	$1,764,350
No positions match the current search.

Sold Out

Positions the filer fully exited

1 positions

Ticker	Company	Shares	Value	Open
RUSHA	Rush Enterprises Inc \Tx\	26,454	$1,414,495
No positions match the current search.

Portfolio Positions

Compact Export CSV View 13F filing

22 positions · $739,341,308 total · as of Dec 31, 2025

All sectors Consumer Cyclical Consumer Defensive Energy Industrials Real Estate Technology Utilities

Ticker	Company	Type	Shares	Δ Shares	Value (USD)	% Δ Value	% of Portfolio
LAD	Lithia Motors Inc Consumer Cyclical	Reduced	224,790	-10,737	$74,704,460	+0.4%	10.10%
DKS	Dick's Sporting Goods, Inc. Consumer Cyclical	Held	357,844	0	$70,842,376	−10.9%	9.58%
VERX	Vertex, Inc. Technology	Reduced	3,419,994	-384,415	$68,297,280	−27.6%	9.24%
CCK	Crown Holdings, Inc. Consumer Cyclical	Added	612,165	+79,000	$63,034,630	+22.4%	8.53%
VVV	Valvoline Inc Consumer Cyclical	Added	2,098,843	+20,000	$60,992,377	−18.3%	8.25%
USFD	US Foods Holding Corp. Consumer Defensive	Held	764,042	0	$57,547,643	−1.7%	7.78%
CWAN	Clearwater Analytics Holdings, Inc. Technology	Reduced	2,364,674	-159,998	$57,035,936	+25.4%	7.71%
QTWO	Q2 Holdings, Inc. Technology	Reduced	679,767	-100,000	$49,051,986	−13.1%	6.63%
CTRI	Centuri Holdings, Inc. Utilities	Added	1,866,243	+1,054,155	$47,122,635	+174.1%	6.37%
BL	Blackline, Inc. Technology	Reduced	790,945	-21,740	$43,731,349	+1.3%	5.91%
NCNO	nCino, Inc. Technology	Added	1,085,142	+183,603	$27,823,040	+13.8%	3.76%
EQIX	Equinix Inc Real Estate	Held	27,892	0	$21,369,734	−2.2%	2.89%
SKY	Champion Homes, Inc. Consumer Cyclical	Reduced	248,562	-59,600	$21,003,489	−10.8%	2.84%
VAL	Valaris Ltd Energy	Reduced	339,419	-50,000	$17,106,717	−9.9%	2.31%
NE	Noble Corp plc Energy	Added	529,375	+76,764	$14,949,550	+16.8%	2.02%
WBI	WaterBridge Infrastructure LLC Energy	Added	528,806	+228,806	$10,581,408	+39.9%	1.43%
OS	OneStream, Inc. Technology	NEW	541,070	NEW	$9,944,866	NEW	1.35%
ALIT	Alight, Inc. / Delaware Technology	Reduced	3,760,472	-3,188,422	$7,332,920	−67.6%	0.99%
ARCB	Arcbest Corp /De/ Industrials	NEW	81,230	NEW	$6,026,453	NEW	0.82%
HLX	Helix Energy Solutions Group Inc Energy	Reduced	849,946	-441,013	$5,329,161	−37.1%	0.72%
ASO	Academy Sports & Outdoors, Inc. Consumer Cyclical	Reduced	75,039	-119,836	$3,748,948	−61.5%	0.51%
UHAL	U-Haul Holding Co /NV/ Industrials	NEW	35,000	NEW	$1,764,350	NEW	0.24%