PaperPanda Fund Terminal
Glenn Welling
Engaged Capital LLC · CIK: 1559771 · Report Period: 2025-12-31 · Filed: 2026-02-17
Portfolio Concentration
Top 10 holdings by weight — hover for cross-investor insights
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Holdings
Total: $392,022,027 · 9 positions
| # | Ticker | Issuer | Class | % of Portfolio | Value ($) | Shares | Activity | Share Change |
|---|---|---|---|---|---|---|---|---|
| 1 |
 VFC
|
V F CORP | COM | 24.5% | $95,942,388 | 5,306,548 | REDUCE | -555,820 |
| 2 |
 YETI
|
YETI HLDGS INC | COM | 22.9% | $89,784,138 | 2,032,695 | REDUCE | -136,856 |
| 3 |
 BL
|
BLACKLINE INC | COM | 15.3% | $59,913,295 | 1,083,619 | ADD | +629,825 |
| 4 |
 GXO
|
GXO LOGISTICS INCORPORATED | COM | 11.1% | $43,679,040 | 829,769 | REDUCE | -148,708 |
| 5 |
 CGNX
|
COGNEX CORP | COM | 8.6% | $33,569,340 | 933,000 | ADD | +78,000 |
| 6 |
 FRPT
|
FRESHPET INC | COM | 6.2% | $24,440,851 | 401,130 | REDUCE | -218,000 |
| 7 |
 EVH
|
EVOLENT HEALTH INC | COM | 5.7% | $22,255,648 | 5,563,912 | REDUCE | -100,000 |
| 8 |
 BRCC
|
BRC INC | COM | 4.0% | $15,468,472 | 13,935,560 | - | - |
| 9 |
 PTLO
|
PORTILLOS INC | COM | 1.8% | $6,968,855 | 1,534,990 | REDUCE | -3,534,311 |
Position Changes
8 quarters available
| # | Ticker | Issuer | Action | Share Change | % Change | Shares Held | Value ($) |
|---|---|---|---|---|---|---|---|
| 1 | VFC | V F CORP | REDUCE | -555,820 | -9.5% | 5,306,548 | $95,942,388 |
| 2 | CGNX | COGNEX CORP | ADD | +78,000 | +9.1% | 933,000 | $33,569,340 |
| 3 | BL | BLACKLINE INC | ADD | +629,825 | +138.8% | 1,083,619 | $59,913,295 |
| 4 | PTLO | PORTILLOS INC | REDUCE | -3,534,311 | -69.7% | 1,534,990 | $6,968,855 |
| 5 | YETI | YETI HLDGS INC | REDUCE | -136,856 | -6.3% | 2,032,695 | $89,784,138 |
| 6 | EVH | EVOLENT HEALTH INC | REDUCE | -100,000 | -1.8% | 5,563,912 | $22,255,648 |
| 7 | FRPT | FRESHPET INC | REDUCE | -218,000 | -35.2% | 401,130 | $24,440,851 |
| 8 | GXO | GXO LOGISTICS INCORPORATED | REDUCE | -148,708 | -15.2% | 829,769 | $43,679,040 |
| # | Ticker | Issuer | Action | Share Change | % Change | Shares Held | Value ($) |
|---|---|---|---|---|---|---|---|
| 1 | VFC | V F CORP | ADD | +445,000 | +8.2% | 5,862,368 | $84,593,970 |
| 2 | CGNX | COGNEX CORP | NEW BUY | +855,000 | New | 855,000 | $38,731,500 |
| 3 | BRCC | BRC INC | ADD | +400,000 | +3.0% | 13,935,560 | $21,739,474 |
| 4 | BL | BLACKLINE INC | NEW BUY | +453,794 | New | 453,794 | $24,096,461 |
| 5 | PTLO | PORTILLOS INC | ADD | +237,390 | +4.9% | 5,069,301 | $32,696,991 |
| 6 | YETI | YETI HLDGS INC | ADD | +7,033 | +0.3% | 2,169,551 | $71,985,702 |
| 7 | EVH | EVOLENT HEALTH INC | REDUCE | -190,556 | -3.3% | 5,663,912 | $47,916,696 |
| 8 | GXO | GXO LOGISTICS INCORPORATED | ADD | +81,477 | +9.1% | 978,477 | $51,751,649 |
| # | Ticker | Issuer | Action | Share Change | % Change | Shares Held | Value ($) |
|---|---|---|---|---|---|---|---|
| 1 | VFC | V F CORP | REDUCE | -67,000 | -1.2% | 5,417,368 | $63,654,074 |
| 2 | PTLO | PORTILLOS INC | REDUCE | -647,860 | -11.8% | 4,831,911 | $56,388,401 |
| 3 | YETI | YETI HLDGS INC | ADD | +619,000 | +40.1% | 2,162,518 | $68,162,567 |
| 4 | FRPT | FRESHPET INC | NEW BUY | +619,130 | New | 619,130 | $42,076,075 |
| 5 | - | NCR ATLEOS CORPORATION | SOLD | -774,261 | Exit | - | - |
| 6 | - | CHART INDS INC | SOLD | -368,996 | Exit | - | - |
| 7 | EVH | EVOLENT HEALTH INC | ADD | +675,000 | +13.0% | 5,854,468 | $65,921,310 |
| 8 | GXO | GXO LOGISTICS INCORPORATED | REDUCE | -15,000 | -1.6% | 897,000 | $43,683,900 |
| 9 | - | NCR VOYIX CORPORATION | SOLD | -431,679 | Exit | - | - |
| # | Ticker | Issuer | Action | Share Change | % Change | Shares Held | Value ($) |
|---|---|---|---|---|---|---|---|
| 1 | VFC | V F CORP | ADD | +143,000 | +2.7% | 5,484,368 | $85,117,391 |
| 2 | - | NCR ATLEOS CORPORATION | REDUCE | -1,431,780 | -64.9% | 774,261 | $20,425,005 |
| 3 | - | CHART INDS INC | ADD | +144,200 | +64.1% | 368,996 | $53,268,263 |
| 4 | PTLO | PORTILLOS INC | REDUCE | -635,185 | -10.4% | 5,479,771 | $65,154,477 |
| 5 | - | PRA GROUP INC | SOLD | -619,945 | Exit | - | - |
| 6 | YETI | YETI HLDGS INC | NEW BUY | +1,543,518 | New | 1,543,518 | $51,090,446 |
| 7 | EVH | EVOLENT HEALTH INC | REDUCE | -225,300 | -4.2% | 5,179,468 | $49,049,562 |
| 8 | GXO | GXO LOGISTICS INCORPORATED | NEW BUY | +912,000 | New | 912,000 | $35,640,960 |
| 9 | - | NCR VOYIX CORPORATION | REDUCE | -5,339,354 | -92.5% | 431,679 | $4,208,870 |
| # | Ticker | Issuer | Action | Share Change | % Change | Shares Held | Value ($) |
|---|---|---|---|---|---|---|---|
| 1 | - | NCR ATLEOS CORPORATION | REDUCE | -802,182 | -26.7% | 2,206,041 | $74,828,911 |
| 2 | - | CHART INDS INC | NEW BUY | +224,796 | New | 224,796 | $42,900,069 |
| 3 | BL | BLACKLINE INC | SOLD | -609,713 | Exit | - | - |
| 4 | - | PRA GROUP INC | REDUCE | -1,083,567 | -63.6% | 619,945 | $12,950,651 |
| 5 | EVH | EVOLENT HEALTH INC | ADD | +1,415,300 | +35.5% | 5,404,768 | $60,803,640 |
| 6 | - | NEVRO CORP | SOLD | -2,442,956 | Exit | - | - |
| 7 | - | NCR VOYIX CORPORATION | REDUCE | -1,399,996 | -19.5% | 5,771,033 | $79,871,097 |
| # | Ticker | Issuer | Action | Share Change | % Change | Shares Held | Value ($) |
|---|---|---|---|---|---|---|---|
| 1 | - | SMARTSHEET INC | SOLD | -671,496 | Exit | - | - |
| 2 | BL | BLACKLINE INC | NEW BUY | +609,713 | New | 609,713 | $33,619,575 |
| 3 | PTLO | PORTILLOS INC | ADD | +3,354,513 | +121.5% | 6,114,956 | $82,368,457 |
| 4 | - | UPBOUND GROUP INC | SOLD | -1,167,051 | Exit | - | - |
| 5 | - | NEVRO CORP | ADD | +557,000 | +29.5% | 2,442,956 | $13,656,124 |
| 6 | BRCC | BRC INC | ADD | +684,542 | +5.3% | 13,535,560 | $46,291,615 |
| 7 | - | NCR ATLEOS CORPORATION | ADD | +498,967 | +19.9% | 3,008,223 | $85,824,602 |
| 8 | EVH | EVOLENT HEALTH INC | REDUCE | -121,990 | -3.0% | 3,989,468 | $112,822,155 |
| 9 | - | SHAKE SHACK INC | SOLD | -266,883 | Exit | - | - |
| 10 | - | ENVESTNET INC | SOLD | -692,483 | Exit | - | - |
| 11 | - | NCR VOYIX CORPORATION | ADD | +885,000 | +14.1% | 7,171,029 | $97,310,864 |
| # | Ticker | Issuer | Action | Share Change | % Change | Shares Held | Value ($) |
|---|---|---|---|---|---|---|---|
| 1 | - | SMARTSHEET INC | NEW BUY | +671,496 | New | 671,496 | $29,599,544 |
| 2 | PTLO | PORTILLOS INC | ADD | +770,443 | +38.7% | 2,760,443 | $26,831,506 |
| 3 | - | UPBOUND GROUP INC | REDUCE | -498,657 | -29.9% | 1,167,051 | $35,828,466 |
| 4 | - | PRA GROUP INC | REDUCE | -149,737 | -8.1% | 1,703,512 | $33,491,046 |
| 5 | EVH | EVOLENT HEALTH INC | ADD | +850,000 | +26.1% | 4,111,458 | $78,611,077 |
| 6 | - | SHAKE SHACK INC | REDUCE | -507,905 | -65.6% | 266,883 | $24,019,470 |
| 7 | - | ENVESTNET INC | ADD | +573,049 | +479.8% | 692,483 | $43,342,511 |
| 8 | - | NCR VOYIX CORPORATION | ADD | +450,000 | +7.7% | 6,286,029 | $77,632,458 |
| # | Ticker | Issuer | Action | Share Change | % Change | Shares Held | Value ($) |
|---|---|---|---|---|---|---|---|
| 1 | PTLO | PORTILLOS INC | NEW BUY | +1,990,000 | New | 1,990,000 | $28,218,200 |
| 2 | - | UPBOUND GROUP INC | REDUCE | -731,208 | -30.5% | 1,665,708 | $58,649,579 |
| 3 | - | NEVRO CORP | REDUCE | -282,207 | -13.0% | 1,885,956 | $27,233,205 |
| 4 | - | PRA GROUP INC | REDUCE | -157,501 | -7.8% | 1,853,249 | $48,332,734 |
| 5 | - | SHAKE SHACK INC | REDUCE | -592,443 | -43.3% | 774,788 | $80,601,196 |
| 6 | - | ENVESTNET INC | NEW BUY | +119,434 | New | 119,434 | $6,916,423 |
| 7 | - | NCR VOYIX CORPORATION | ADD | +817,516 | +16.3% | 5,836,029 | $73,709,046 |
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