Tensile Capital Management LP

CIK

1598843

Location

LARKSPUR, CA

Portfolio Value

Small $690,899,340

Diversification

Diversified

Filing Date

Global Rank

#2,181 / 8,603 ▼ 234 · as of Mar 2026

Top Industry

Software - Application 31.3%

3Y Alpha vs SPY

-43.5%

Period ended 3 months ago

Filed May 15, 2026 · 55d

25 quarters · since Mar 2020

Clone Performance

Jul 2023–Jul 2026 · vs SPY

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

Cloned portfolio

-53.9%

SPY

+76.5%

Annualised alpha

-43.6%

Max drawdown

−66.9%

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

23 positions · as of Mar 31, 2026 · Δ vs Dec 31, 2025

Top Position

10.3%

−6.4 pts

Top 5

42.5%

−5.7 pts

Top 10

71.1%

−8.0 pts

HHI

616

Diversified−161

Portfolio Trend

25 quarters · across all stocks

Sector Breakdown

As of Mar 31, 2026

Sector	% Portfolio	Value	Positions
Consumer Cyclical	40.0%	$276,526,790	7
Technology	32.3%	$223,151,347	9
Energy	7.9%	$54,380,033	3
Consumer Defensive	7.2%	$49,889,482	1
Utilities	6.7%	$46,480,208	1
Real Estate	5.9%	$40,471,480	2

Last Quarter's Activity

Export CSV

Mar 31, 2026 vs Dec 31, 2025

Added To

Positions the filer increased

2 positions

Ticker	Company	Δ Shares	Shares	Value
WBI	WaterBridge Infrastructure LLC	+455,768	984,574	$26,376,737
QTWO	Q2 Holdings, Inc.	+210,000	889,767	$42,085,979
No positions match the current search.

Trimmed

Positions the filer reduced

11 positions

Ticker	Company	Δ Shares	Shares	Value
CWAN	Clearwater Analytics Holdings, Inc.	−1,485,000	879,674	$20,804,290
CTRI	Centuri Holdings, Inc.	−275,000	1,591,243	$46,480,208
USFD	US Foods Holding Corp.	−223,000	541,042	$49,889,482
CCK	Crown Holdings, Inc.	−177,000	435,165	$43,625,291
NE	Noble Corp plc	−130,000	399,375	$19,597,331
NCNO	nCino, Inc.	−80,000	1,005,142	$15,057,027
BL	Blackline, Inc.	−40,159	750,786	$27,779,082
SKY	Champion Homes, Inc.	−37,419	211,143	$15,702,704
VERX	Vertex, Inc.	−21,431	3,398,563	$40,408,914
LAD	Lithia Motors Inc	−1,827	222,963	$55,678,320
EQIX	Equinix Inc	−1,500	26,392	$25,870,494
No positions match the current search.

New Positions

Positions the filer opened this quarter

6 positions

Ticker	Company	Shares	Value
TYL	Tyler Technologies Inc	51,375	$17,589,772
CVCO	Cavco Industries, Inc.	33,000	$15,981,570
COMP	Compass, Inc.	1,997,399	$14,600,986
APPF	Appfolio Inc	53,000	$8,364,460
CLBT	Cellebrite DI Ltd.	525,202	$7,237,283
FOXF	Fox Factory Holding Corp	236,512	$3,892,987
No positions match the current search.

Sold Out

Positions the filer fully exited

5 positions

Ticker	Company	Shares	Value
VAL	Valaris Ltd	339,419	$17,106,717
OS	OneStream, Inc.	541,070	$9,944,866
ARCB	Arcbest Corp /De/	81,230	$6,026,453
ASO	Academy Sports & Outdoors, Inc.	75,039	$3,748,948
UHAL	U-Haul Holding Co /NV/	35,000	$1,764,350
No positions match the current search.

Portfolio Positions

Compact Export CSV View 13F filing

23 positions · $690,899,340 total · as of Mar 31, 2026

All sectors Consumer Cyclical Consumer Defensive Energy Real Estate Technology Utilities

Ticker	Company	Type	Shares	Δ Shares	Value (USD)	% Δ Value	% of Portfolio
DKS	Dick's Sporting Goods, Inc. Consumer Cyclical	Held	357,844	0	$70,956,886	+0.2%	10.27%
VVV	Valvoline Inc Consumer Cyclical	Held	2,098,843	0	$70,689,032	+15.9%	10.23%
LAD	Lithia Motors Inc Consumer Cyclical	Reduced	222,963	-1,827	$55,678,320	−25.5%	8.06%
USFD	US Foods Holding Corp. Consumer Defensive	Reduced	541,042	-223,000	$49,889,482	−13.3%	7.22%
CTRI	Centuri Holdings, Inc. Utilities	Reduced	1,591,243	-275,000	$46,480,208	−1.4%	6.73%
ALIT	Alight, Inc. / Delaware Technology	Held	3,760,472	0	$43,824,540	−70.1%	6.34%
CCK	Crown Holdings, Inc. Consumer Cyclical	Reduced	435,165	-177,000	$43,625,291	−30.8%	6.31%
QTWO	Q2 Holdings, Inc. Technology	Added	889,767	+210,000	$42,085,979	−14.2%	6.09%
VERX	Vertex, Inc. Technology	Reduced	3,398,563	-21,431	$40,408,914	−40.8%	5.85%
BL	Blackline, Inc. Technology	Reduced	750,786	-40,159	$27,779,082	−36.5%	4.02%
WBI	WaterBridge Infrastructure LLC Energy	Added	984,574	+455,768	$26,376,737	+149.3%	3.82%
EQIX	Equinix Inc Real Estate	Reduced	26,392	-1,500	$25,870,494	+21.1%	3.74%
CWAN	Clearwater Analytics Holdings, Inc. Technology	Reduced	879,674	-1,485,000	$20,804,290	−63.5%	3.01%
NE	Noble Corp plc Energy	Reduced	399,375	-130,000	$19,597,331	+31.1%	2.84%
TYL	Tyler Technologies Inc Technology	NEW	51,375	NEW	$17,589,772	NEW	2.55%
CVCO	Cavco Industries, Inc. Consumer Cyclical	NEW	33,000	NEW	$15,981,570	NEW	2.31%
SKY	Champion Homes, Inc. Consumer Cyclical	Reduced	211,143	-37,419	$15,702,704	−25.2%	2.27%
NCNO	nCino, Inc. Technology	Reduced	1,005,142	-80,000	$15,057,027	−45.9%	2.18%
COMP	Compass, Inc. Real Estate	NEW	1,997,399	NEW	$14,600,986	NEW	2.11%
HLX	Helix Energy Solutions Group Inc Energy	Held	849,946	0	$8,405,965	+57.7%	1.22%
APPF	Appfolio Inc Technology	NEW	53,000	NEW	$8,364,460	NEW	1.21%
CLBT	Cellebrite DI Ltd. Technology	NEW	525,202	NEW	$7,237,283	NEW	1.05%
FOXF	Fox Factory Holding Corp Consumer Cyclical	NEW	236,512	NEW	$3,892,987	NEW	0.56%