Why One Fund Just Put $23.5 Million Into Champion Homes Despite an 18% Stock Slide

12 hours ago 2

Jonathan Ponciano, The Motley Fool

Sun, December 7, 2025 astatine 11:50 AM CST 5 min read

California-based Tensile Capital Management acquired 308,162 shares of Champion Homes for an estimated $23.5 cardinal successful the 3rd quarter.
The caller presumption represents 2.9% of 13F reportable assets nether absorption astatine quarter-end.
Though sizable, the Champion Homes involvement remains extracurricular the fund’s apical 5 holdings.
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On November 14, California-based Tensile Capital Management disclosed a caller presumption successful Champion Homes (NYSE:SKY), acquiring 308,162 shares valued astatine astir $23.5 million, according to its latest SEC filing.

According to a filing submitted to the U.S. Securities and Exchange Commission connected November 14, Tensile Capital Management LP established a caller holding successful Champion Homes. The presumption totals 308,162 shares with a reported marketplace worth of $23.5 cardinal arsenic of the 4th ending September 30.

The presumption represents 2.9% of Tensile's $800.4 cardinal successful U.S. equity holdings reported successful the third-quarter filing.

Top holdings aft the filing:

NASDAQ: VERX: $94.3 cardinal (11.8% of AUM)
NYSE: DKS: $79.5 cardinal (9.9% of AUM)
NYSE: VVV: $74.7 cardinal (9.3% of AUM)
NYSE: LAD: $74.4 cardinal (9.3% of AUM)
NYSE: USFD: $58.5 cardinal (7.3% of AUM)

As of Friday, shares of Champion Homes were priced astatine $85.38, down 18% implicit the past twelvemonth and good underperforming the S&P 500, which is up 13% successful the aforesaid period.

Metric

Value

Price (as of marketplace adjacent Friday)	$85.38
Market capitalization	$4.8 billion
Revenue (TTM)	$2.6 billion
Net income (TTM)	$220.8 million

Champion Homes produces and sells factory-built housing, including manufactured and modular homes, parkland exemplary RVs, accessory dwelling units, and modular buildings for multi-family and hospitality applications.
The institution generates gross done the design, manufacture, and nonstop merchantability of factory-built homes, arsenic good arsenic operation services, transportation, and a web of company-owned retail centers.
It serves homebuyers, existent property developers, and organization clients crossed North America, with a absorption connected the United States and occidental Canada.

Champion Homes is simply a starring North American supplier of factory-built lodging solutions, operating nether aggregate well-known brands. The institution leverages an integrated concern exemplary that spans manufacturing, retail, installation, and transportation, enabling businesslike transportation and customization of residential and commercialized structures. With a diversified merchandise portfolio and a beardown beingness successful some the United States and Canada, Champion Homes is positioned to code a wide scope of lodging needs successful the residential operation market.