Institutional 13F · Context Only · Never a Buy List机构 13F · 仅供背景参考 · 非买入清单
Engaged Capital
activist
B
Reliability stable可靠性稳定
leaderboard rank榜单排名 #26
Book持仓规模
$303M
long US listed only仅美股多头
Positions持仓数
8
100% resolved已解析
Top-10 concentration前十集中度
100%
% of book占组合%
Turnover换手
LOW
22.8% per quarter每季
Median excess中位超额
-12%
buys vs SPY, since filing买入相对SPY，自申报起 · n 18
Hit rate胜率
39%
share of buys beating SPY跑赢SPY的买入占比
Core lean — the 10-second read核心倾向 — 10秒速读
No thematic add cluster this quarter — the latest buys do not map to a tracked theme.本季度无主题性加仓集群——最新买入未映射到任何跟踪主题。
Descriptive read of the latest filing — themes clustered from curated baskets (Finviz fallback), added-pp = Σ % of book bought this quarter. Not a forecast.基于最新申报的描述性解读——主题按精选篮子聚类（Finviz 兜底），added-pp = 本季度买入占组合百分比之和。非预测。
Grade & excess history评级与超额历史
per-quarter buy cohorts, scored on public filing dates vs SPY — descriptive ranks in a curated survivor cohort按季度买入队列，以公开申报日为锚相对SPY评分——精选幸存者队列中的描述性排名Reliability可靠性: stable稳定 · 5 scored quarters已评分季度 · 20% positive为正 · recent-4 median近4季中位 -3% vs all-time对全期 -3%
Median excess by quarter各季度中位超额: ▆▁▇▇█ (oldest → newest, shifted by the series minimum so negatives render由旧到新，按序列最小值平移以呈现负值)
| Quarter季度 | Buys买入数 | Median excess中位超额 | Hit胜率 | Median fwd 63d中位前瞻63日 |
|---|---|---|---|---|
| 2023-12-31 | 2 | -10% | 50% | +10% |
| 2024-09-30 | 3 | -74% | 33% | -20% |
| 2025-03-31 | 3 | -3% | 33% | +7% |
| 2025-06-30 | 2 | -2% | 50% | -5% |
| 2025-09-30 | 2 | +1% | 50% | +9% |
Sector exposure & rotation行业配置与轮动
value-weighted, latest filing; QoQ deltas vs prior quarter按市值加权，最新申报；季度环比变化对上季Current weights当前权重 · 2026-03-31
Consumer Discretionary
47.7%
▲ +0.3pp
Information Technology
24.5%
▲ +0.6pp
Industrials
14.0%
▲ +2.9pp
Unclassified
13.8%
▲ +2.4pp
Theme categories主题类别
Industrials 7.8%
Rotating into (QoQ)轮入（环比）
Industrials +2.9pp
Information Technology +0.6pp
Consumer Discretionary +0.3pp
Rotating out of (QoQ)轮出（环比）
Consumer Staples -6.2pp
Quarter history — top-3 sectors季度历史 — 前三大行业
| 2026-03-31 | Consumer Discretionary 48% · Information Technology 24% · Industrials 14% |
| 2025-12-31 | Consumer Discretionary 47% · Information Technology 24% · Unclassified 11% |
| 2025-09-30 | Consumer Discretionary 38% · Unclassified 25% · Information Technology 15% |
| 2025-06-30 | Unclassified 39% · Consumer Discretionary 37% · Industrials 12% |
| 2025-03-31 | Unclassified 36% · Consumer Discretionary 35% · Industrials 23% |
| 2024-12-31 | Unclassified 36% · Consumer Discretionary 24% · Information Technology 16% |
| 2024-09-30 | Unclassified 48% · Information Technology 21% · Consumer Discretionary 17% |
| 2024-06-30 | Unclassified 52% · Consumer Discretionary 23% · Information Technology 13% |
| 2024-03-31 | Unclassified 44% · Consumer Discretionary 36% · Information Technology 12% |
| 2023-12-31 | Consumer Discretionary 41% · Unclassified 37% · Information Technology 12% |
| 2023-09-30 | Consumer Discretionary 51% · Information Technology 25% · Unclassified 24% |
| 2023-06-30 | Unclassified 41% · Consumer Discretionary 38% · Information Technology 19% |
Full book完整持仓
every resolved position as filed — click a column header to sort. Conviction is a descriptive composite, not a forecast.截至申报日的全部已解析持仓——点击列头排序。信念分为描述性综合指标，非预测。8 positions shown项持仓 · resolved已解析 8/8 (100%) · unresolved CUSIPs are excluded from this table but counted in book totals未解析CUSIP不列入本表，但计入组合总额
| #↕ | Ticker标的 ↕ | Company公司 ↕ | % book仓位% ↕ | Value金额 ↕ | Action动作 ↕ | Δ sharesΔ股数 ↕ | Add streak连加季数 ↕ | Conviction信念分 ↕ | Sector行业 ↕ | Themes主题 | Since filing自申报 ↕ |
|---|---|---|---|---|---|---|---|---|---|---|---|
| 1 |  VFC |
V F Corp | 26.2% | $79M | trim | -12% | — | 70 · HIGH | Consumer Discretionary | Apparel, Luxury | +2% |
| 2 |  YETI |
Yeti Hldgs Inc | 21.5% | $65M | trim | -12% | — | 66 · MODERATE | Consumer Discretionary | — | +11% |
| 3 |  BL |
Blackline Inc | 16.7% | $51M | add | +26% | 3q | 76 · HIGH | Information Technology | — | +6% |
| 4 |  GXO |
Gxo Logistics Incorporated | 14.0% | $43M | hold | -1% | — | 57 · MODERATE | Industrials | Logistics, Warehousing, Logistics | +6% |
| 5 |  CGNX |
Cognex Corp | 7.8% | $24M | trim | -48% | — | 42 · LOW | Information Technology | Robotics & Automation | -2% |
| 6 |  PTLO |
Portillos Inc | 6.0% | $18M | add | +124% | 1q | 43 · LOW | — | — | — |
| 7 |  EVH |
Evolent Health Inc | 4.2% | $13M | hold | +0% | — | 34 · LOW | — | IT & Data | — |
| 8 |  BRCC |
Brc Inc | 3.6% | $11M | hold | +0% | — | 29 · LOW | — | — | — |
Rotation detail轮动明细
this filing cycle, uncapped — adds/new and trims from the resolved book, exits from the rotation feed本申报周期，不设上限——新建/加仓与减持取自已解析持仓，清仓取自轮动数据Rotated into轮入 (2)
| BL add |
16.7% | +6% |
| PTLO add |
6.0% | — |
Rotated out of轮出 (4)
| VFC trim |
-12% | +2% |
| YETI trim |
-12% | +11% |
| CGNX trim |
-48% | -2% |
 FRPT exit |
-100% | +12% |
Trade log交易记录
last 40 graded trades, filing-date anchored, newest first — variable hold vs SPY最近40笔已评分交易，以申报日为锚，最新在前——持有期不定，相对SPYNo graded trades available for this fund.该基金暂无已评分交易。
Caveats注意事项 —
13F = quarterly, ~45-day lag, long-only US listed ≥$100M. No shorts, no cash, no non-US positions. This desk is context — ownership is never a directional signal here.13F = 季度披露，约45天滞后，仅含美股多头且持仓≥1亿美元。不含空头、现金或非美股仓位。本台仅为背景参考——持仓数据在此永远不是方向性信号。
Grades and reliability are descriptive ranks within a curated survivor cohort — they measure what filings did after their filing dates, not a manager-selection edge. Conviction and core-lean reads are descriptive composites earning a forward record via the pre-registered ledger (L5); sector/theme classification applies the current map to history.评级与可靠性为精选幸存者队列中的描述性排名——衡量申报日之后持仓的表现，而非经理选择能力。信念分与核心倾向为描述性综合指标，通过预注册账本（L5）积累前瞻记录；行业/主题分类将当前映射应用于历史。