13F filing recap · Q4 2025

What did Engaged Capital buy in Q4 2025?

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

Stock value

$392.02M

Positions

Estimated turnover

22.8%

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 trimmed V. F. Corporation and Yeti Holdings slightly, while sharply increasing its Blackline stake. It also reduced Gxo Logistics, Freshpet, Evolent Health, and Portillo’s, and modestly added to Cognex.

Increased positions

BLBlackline, Inc.$59.91Mreported value+629.8K shares+138.8%CGNXCognex Corporation$33.57Mreported value+78.0K shares+9.1%

Reduced positions

VFCV. F. Corporation$95.94Mreported value-555.8K shares-9.5%YETIYeti Holdings, Inc.$89.78Mreported value-136.9K shares-6.3%GXOGxo Logistics, Inc.$43.68Mreported value-148.7K shares-15.2%FRPTFreshpet, Inc.$24.44Mreported value-218.0K shares