13F filing recap · Q2 2025

What did Engaged Capital buy in Q2 2025?

Reported stock-position changes between this filing and the previous one.

Stock value

$357.62M

Positions

Estimated turnover

41.7%

Turnover is a proxy: verified trade-origin share changes valued at period-end and divided by average reported stock value. SEC holdings reports do not disclose execution dates or prices. Corporate actions and unreconciled activity are excluded.

Quarter in review

Engaged Capital opened a new position in Freshpet and exited Chart Industries, NCR Voyix, and NCR Atleos. It substantially increased its stake in Yeti Holdings and added to Evolent Health, while trimming Portillo’s and slightly reducing V.F. Corporation and GXO Logistics.

New positions

FRPTFreshpet, Inc.$42.08Mreported value+619.1K shares

Increased positions

YETIYeti Holdings, Inc.$68.16Mreported value+619.0K shares+40.1%EVHEvolent Health, Inc.$65.92Mreported value+675.0K shares+13.0%

Reduced positions

VFCV. F. Corporation$63.65Mreported value-67.0K shares-1.2%PTLOPortillo'S Inc.$56.39Mreported value-647.9K shares-11.8%GXOGxo Logistics, Inc.$43.68Mreported value-15.0K shares-1.6%

Exited positions

GTLSChart Industries, Inc.$53.27Mprior reported value-369.0K shares-100.0%NATLNcr Atleos Corporation$20.43Mprior reported value-774.3K shares-100.0%VYXNcr Voyix Corporation$4.21Mprior reported value-431.7K shares-100.0%