SEC 13F Intelligence

Managers / Q4 2023 · view latest →

Engaged Capital LLC

CIK 0001559771 · 610 NEWPORT CENTER DRIVE, SUITE 950, NEWPORT BEACH, CA, 92660 · 949-734-7900

Reported Value
$683M
Q4 2023
Positions
9
Filings on Record
32
2019–present window
Filed
Feb 14, 2024
original filing

Summary

Engaged Capital LLC reported $683M in U.S.-listed holdings across 9 positions for Q4 2023.

Its largest position, EVH, represents 15.8% of the portfolio.

Compared with Q3 2023, the fund opened 3 new positions and exited 1.

Portfolio Metrics

Turnover
+14.5%
vs prior filed quarter
Largest Position
+15.8%
Evolent Health
New / Exited
3 / 1
positions this quarter

Methodology: turnover is min(value bought, value sold) ÷ average reported value across the two quarters — value-based, so market moves inflate it slightly versus a share-based measure. Concentration and largest position are shares of the filing’s total reported value, options excluded. New/exited counts compare against the prior filed quarter. All figures derive solely from the fund’s 13F filings.

Reported Value by Quarter

13F Reported Value
Q4 ’18: $539MQ4 ’18Q1 ’19: $712MQ2 ’19: $822MQ3 ’19: $789MQ4 ’19: $963MQ4 ’19Q1 ’20: $763MQ2 ’20: $928MQ3 ’20: $967MQ4 ’20: $1.2BQ4 ’20Q1 ’21: $1.4BQ2 ’21: $1.3BQ3 ’21: $1.4BQ4 ’21: $812MQ4 ’21Q1 ’22: $1.0BQ2 ’22: $651MQ3 ’22: $506MQ4 ’22: $591MQ4 ’22Q1 ’23: $703MQ2 ’23: $691MQ3 ’23: $549MQ4 ’23: $683MQ4 ’23Q1 ’24: $617MQ2 ’24: $584MQ3 ’24: $617MQ4 ’24: $486MQ4 ’24Q1 ’25: $392MQ2 ’25: $358MQ3 ’25: $408MQ4 ’25: $392MQ4 ’25Q1 ’26: $303Mfilingsflow.com

Portfolio Composition

By security type
Common Stock: 100.0%
  • Common Stock · 100.0% · $683M

Quarter-over-Quarter Changes full breakdown →

vs Q3 2023 (amended baseline)

IssuerMoveShare ΔShares nowValue ΔValue now
NATLNCR ATLEOS CORPORATIONNEW+2.51M2.51M+$61M$61M
PRAAPRA GROUP INCNEW+2.01M2.01M+$53M$53M
NVROEURNEVRO CORPNEW+2.17M2.17M+$47M$47M
BCBUSDPRIMO WATER CORPORATIONSOLD OUT−878.8K0−$12M$0
UPBDUPBOUND GROUP INCTRIMMED−1.27M2.40M−$27M$81M
EVHEVOLENT HEALTH INCADDED+428.6K3.26M+$31M$108M
BRCCBRC INCHELD+400.0K12.85M+$2M$47M
VFCV F CORPHELD+145.1K5.34M+$9M$100M

Value changes conflate price moves with buying and selling — share changes are the real signal. Share counts are not split-adjusted.

Holdings — Q4 2023

9 positions
Export to Excel
#IssuerClass% PortfolioValue ↓Shares
1EVHEVOLENT HEALTH INChistory →CL A15.78%$108M3.26M
2SHAKSHAKE SHACK INChistory →CL A14.84%$101M1.37M
3VFCV F CORPhistory →COM14.71%$100M5.34M
4VYXNCR VOYIX CORPORATIONhistory →COM12.43%$85M5.02M
5UPBDUPBOUND GROUP INChistory →COM11.93%$81M2.40M
6NATLNCR ATLEOS CORPORATIONhistory →COM SHS8.93%$61M2.51M
7PRAAPRA GROUP INChistory →COM7.72%$53M2.01M
8NVROEURNEVRO CORPhistory →COM6.83%$47M2.17M
9BRCCBRC INChistory →COM CL A6.83%$47M12.85M

Filing History

QuarterReported ValuePositionsFiledTypeLinks
Q1 2026$303M8May 15, 202613F-HRchanges · EDGAR ↗
Q4 2025$392M9Feb 17, 202613F-HRchanges · EDGAR ↗
Q3 2025$408M9Nov 14, 202513F-HRchanges · EDGAR ↗
Q2 2025$358M7Aug 14, 202513F-HRchanges · EDGAR ↗
Q1 2025$392M9May 15, 202513F-HRchanges · EDGAR ↗
Q4 2024$486M8Feb 14, 202513F-HRchanges · EDGAR ↗
Q3 2024$617M9Nov 14, 202413F-HRchanges · EDGAR ↗
Q2 2024$584M12Aug 14, 202413F-HRchanges · EDGAR ↗
Q1 2024$617M11May 15, 202413F-HRchanges · EDGAR ↗
Q4 2023$683M9Feb 14, 202413F-HRchanges · EDGAR ↗
Q3 2023$549M7Nov 14, 202313F-HRchanges · EDGAR ↗
Q2 2023$691M8Aug 14, 202313F-HRchanges · EDGAR ↗
Q1 2023$703M10May 15, 202313F-HRchanges · EDGAR ↗
Q4 2022$591M9Feb 14, 202313F-HRchanges · EDGAR ↗
Q3 2022$506M9Nov 14, 202213F-HRchanges · EDGAR ↗
Q2 2022$651M7Aug 15, 202213F-HRchanges · EDGAR ↗
Q1 2022REVEALED$1.0B9May 16, 202213F-HRchanges · EDGAR ↗
Q4 2021$812M9Feb 14, 202213F-HRchanges · EDGAR ↗
Q3 2021$1.4B9Nov 15, 202113F-HRchanges · EDGAR ↗
Q2 2021$1.3B9Aug 16, 202113F-HRchanges · EDGAR ↗
Q1 2021$1.4B9May 17, 202113F-HRchanges · EDGAR ↗
Q4 2020$1.2B9Feb 16, 202113F-HRchanges · EDGAR ↗
Q3 2020$967M10Nov 16, 202013F-HRchanges · EDGAR ↗
Q2 2020$928M10Aug 14, 202013F-HRchanges · EDGAR ↗
Q1 2020$763M8May 15, 202013F-HRchanges · EDGAR ↗
Q4 2019$963M8Feb 14, 202013F-HRchanges · EDGAR ↗
Q3 2019REVEALED$789M8Nov 14, 201913F-HRchanges · EDGAR ↗
Q2 2019$822M9Aug 14, 201913F-HRchanges · EDGAR ↗
Q1 2019$712M12May 15, 201913F-HRchanges · EDGAR ↗
Q4 2018$539M15Feb 14, 201913F-HRchanges · EDGAR ↗

Other Included Managers

This filing reports holdings on behalf of 2 additional managers.

  • Engaged Capital Holdings, LLC028-16008
  • Welling Glenn W.028-16006

13F filings are due up to 45 days after quarter end, so holdings shown here lag the fund’s current book. Source: original SEC filing on EDGAR ↗.