Tensile Capital Management LP
Filing Date
Global Rank
#2,272
/ 8,586
▼ 114
Top Industry
Software - Application
26.8%
3Y Alpha vs SPY
-15.3%
Period ended 3 months ago
Filed May 15, 2026 · 32d
25 quarters · since Mar 2020
Clone Performance
Jun 2023–Jun 2026 · vs SPYHypothetical growth of cloning every reported 13F position and rebalancing on each filing, indexed to the same start.
Cloned portfolio
+18.7%
SPY
+78.1%
Annualised alpha
-15.3%
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
23 positions · as of Mar 31, 2026 · Δ vs Dec 31, 2025Top Position
10.9%
+0.8 pts
Top 5
45.2%
−0.5 pts
Top 10
73.0%
−7.1 pts
HHI
653
Diversified−54
Portfolio Trend
25 quarters · across all stocks
Sector Breakdown
As of Mar 31, 2026| Sector | % Portfolio | Value |
|---|---|---|
| Consumer Cyclical | 42.6% | $276,526,790 |
| Technology | 28.0% | $181,519,162 |
| Energy | 8.4% | $54,380,033 |
| Consumer Defensive | 7.7% | $49,889,482 |
| Utilities | 7.2% | $46,480,208 |
| Real Estate | 6.2% | $40,471,480 |
Last Quarter's Activity
Export CSVTrimmed
Positions the filer reduced
11 positions
| Ticker | Company | Δ Shares | Shares | Value | Open |
|---|---|---|---|---|---|
| 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 | Open |
|---|---|---|---|---|
| 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
9 positions ·
$181,519,162 total
· Technology only
· as of Mar 31, 2026
| Ticker | Company | Type | Shares | Value (USD) | % of Portfolio | History |
|---|---|---|---|---|---|---|
| QTWO |
Q2 Holdings, Inc.
Technology
|
Added | 889,767 | $42,085,979 | 23.19% | |
| VERX |
Vertex, Inc.
Technology
|
Reduced | 3,398,563 | $40,408,914 | 22.26% | |
| BL |
Blackline, Inc.
Technology
|
Reduced | 750,786 | $27,779,082 | 15.30% | |
| CWAN |
Clearwater Analytics Holdings, Inc.
Technology
|
Reduced | 879,674 | $20,804,290 | 11.46% | |
| TYL |
Tyler Technologies Inc
Technology
|
NEW | 51,375 | $17,589,772 | 9.69% | |
| NCNO |
nCino, Inc.
Technology
|
Reduced | 1,005,142 | $15,057,027 | 8.30% | |
| APPF |
Appfolio Inc
Technology
|
NEW | 53,000 | $8,364,460 | 4.61% | |
| CLBT |
Cellebrite DI Ltd.
Technology
|
NEW | 525,202 | $7,237,283 | 3.99% | |
| ALIT |
Alight, Inc. / Delaware
Technology
|
Held | 3,760,472 | $2,192,355 | 1.21% |