Engaged Capital LLC's Q4 2022 Holdings: Increased Positions in NEWR and NCR, Exited FRPT, and Established New Position in BRBR.

The third quarter (Q3) of 2022 saw some significant changes in the holdings of Engaged Capital LLC, a hedge fund that focuses on activist investing. These changes were captured in the quarterly report filed with the Securities and Exchange Commission (SEC), which outlines the fund's 13F holdings comparison between Q3 2022 and Q4 2022.

One of the notable changes in the fund's portfolio was the increase in its position in New Relic Inc (NEWR). According to the report, the fund held 2,430,370 shares of NEWR in Q3 2022, but increased that position to 2,607,819 shares in Q4 2022. This represents a change of 5.6% and an increase in value from $139,455,000 to $147,211,000.

Another company in which Engaged Capital LLC increased its position was NCR Corp (NCR). The quarterly report shows that the fund held 4,452,456 shares of NCR in Q3 2022, but that number increased to 5,252,456 shares in Q4 2022. This represents a change of 45.3% and an increase in value from $84,641,000 to $122,959,000.

On the other hand, one of the positions that the fund decreased its holdings was in BRC Inc (BRCC). In Q3 2022, Engaged Capital LLC had 13,251,450 shares of BRCC, but that number decreased to 13,351,450 shares in Q4 2022. This represents a change of -20.4% and a decrease in value from $102,434,000 to $81,577,000.

In addition to the changes in holdings, the quarterly report also shows that the fund established a new position in Bellring Brands Inc (BRBR) in Q4 2022. Although the fund did not hold any shares of BRBR in Q3 2022, it acquired 1,561,083 shares in Q4 2022, which represents a new position in the company. The value of the shares was $40,026,000.

Another company in which the fund increased its position was Quotient Technology Inc (QUOT). According to the report, the fund held 6,107,150 shares of QUOT in Q3 2022 but increased that position to 8,107,150 shares in Q4 2022. This represents a change of 97.1% and an increase in value from $14,108,000 to $27,807,000.

However, the fund exited its position in Freshpet Inc (FRPT) in Q4 2022. The quarterly report shows that the fund held 295,313 shares of FRPT in Q3 2022 but did not hold any shares in Q4 2022. This represents a change of -100% and a decrease in value from $14,792,000 to $0.

Finally, Engaged Capital LLC also decreased its position in SunOpta Inc (STKL). The quarterly report shows that the fund held 1,991,919 shares of STKL in Q3 2022, but that number decreased to 1,070,678 shares in Q4 2022. This represents a change of -50.1% and a decrease in value from $18,126,000 to $9,036,000.

In summary, the quarterly report filed by Engaged Capital LLC with the SEC showed that the fund made significant changes to its holdings in Q4 2022 compared to Q3 2022. The fund increased its position in several companies, established a new position in Bellring Brands Inc, and exited its position in Freshpet Inc. On the other hand, the fund decreased its position in two companies, including BRC Inc and SunOpta Inc. These changes indicate the fund's continued focus on active management and the potential for future investments.