---
name: Copy Engaged Capital
kind: hedgecopy-fund
cik: 0001559771
latest_13f_period: 2026-06-30
latest_13f_filed: 2026-08-14
author: HedgeCopy
---

# Copy Engaged Capital (13F follow-the-filing)

Engaged Capital files a 13F-HR with the SEC each quarter (CIK 0001559771). This skill describes a
long-only copy portfolio built from that filing, bought the trading day after it is filed.

## Track record (estimated from 13F holdings, net of 10 bps per unit of turnover)
- Annualised return copying the filings, last 3 years (headline): -10.9% vs SPY +22.9% (alpha -33.8%/yr)
- Annualised since the series started (2022-08-19 to 2026-10-09): -13.2% vs SPY +17.3%
- Follow-the-filing TTM: -11.5% vs SPY +16.2% (alpha -27.7%)
- Quarters of history: 17; average coverage 77%; flags: low_coverage

## Latest disclosed top holdings (2026-06-30)
| # | Ticker | Issuer | Weight |
|---|---|---|---|
| 1 | VFC | V F CORP | 23.4% |
| 2 | YETI | YETI HLDGS INC | 18.3% |
| 3 | GXO | GXO LOGISTICS INCORPORATED | 15.5% |
| 4 | EVH | EVOLENT HEALTH INC | 9.3% |
| 5 | FRPT | FRESHPET INC | 8.9% |
| 6 | CGNX | COGNEX CORP | 7.6% |
| 7 | BL | BLACKLINE INC | 7.2% |
| 8 | PTLO | PORTILLOS INC | 5.1% |
| 9 | — | BRC INC | 4.8% |

## About the fund

Engaged Capital is a Newport Beach-based investment management firm founded in 2012 that specializes in constructive activism. The firm focuses on small and mid-cap public companies, aiming to create long-term shareholder value by working with management teams and boards to improve operational performance and corporate governance.

- Strategy: Constructive activist
- Type: Activist
- Founders: Glenn W. Welling
- Key people: Glenn W. Welling (Founder and Chief Investment Officer); Christopher B. Hetrick (Director of Research); Andrew Jung (Chief Operating Officer and Chief Financial Officer); Greg Paulsen (Director of Risk Management & Trading); Donna White (Chief Compliance Officer); Richard T. Gray (Chief Client Officer)
- Founded 2012 · HQ Newport Beach, United States
- Reported AUM: $1.1bn (as of December 31, 2019)
- Website: https://www.engagedcapital.com

### Approach
The firm employs a constructive activist approach, primarily targeting small and mid-cap public companies that are trading at discounts to their intrinsic value. It focuses on operational drivers such as sales growth, margin improvement, and asset utilization, often working behind the scenes with management and boards to implement strategic changes. The firm avoids financial engineering, preferring to act as a private equity investor for public equities to generate long-term value.

### History
Engaged Capital was formed in 2012 by Glenn Welling, a former principal at Relational Investors, to focus on small and mid-cap activism. The firm received seed funding from Grosvenor Capital Management in 2012. Since its inception, it has established itself as a constructive activist firm, focusing on operational improvements and corporate governance to unlock value in undervalued public companies.

### Notable positions / campaigns
- Abercrombie & Fitch (2014): Forced significant governance and operational changes, including board restructuring and executive compensation reform.
- Jamba Juice (2014): Appointed two independent board members, including Glenn Welling, and pursued strategic shifts to a franchise model.
- AeroVironment (2014): Engaged in a proxy contest and pushed for value realization.
- VF Corp (2023): Entered into a cooperation agreement with the company.
- Shake Shack (2023): Entered into a cooperation agreement with the company.

_Profile generated 2026-10-09 from public sources; may be incomplete or out of date._

## Rules
- Hold the top 20 long US-equity positions from the latest 13F-HR, weighted as reported.
- Rebalance on the first trading day after each new 13F-HR is filed. Cash only, paper only.

## Parameters
```json
{
  "params": {
    "funds": [
      "0001559771"
    ],
    "top_n": 20,
    "weighting": "13f",
    "rebalance": "filing_plus_1",
    "budget_usd": 10000,
    "stop_loss_pct": null,
    "cash_only": true
  }
}
```

> Estimated from 13F holdings (long US equities only; no shorts, options, cash or fees). Past performance is not a guide to the future. Not investment advice. Paper trading only.