Legion Partners Asset Management, LLC
Long book
$137.7M
Q1 2026
Positions
6
Top-10 weight
100%
concentration
Last quarter
+21.4%
SPY +14.8%
Turnover
14%
of book per quarter
Strategy in plain words
auto-generated from filingsLegion Partners Asset Management, LLC is a concentrated fundamental stock-picker, running a $137.7M US long book across 6 positions.
The portfolio is extremely concentrated — the top 10 positions are almost the whole book. Turnover is modest: positions are typically held for years. Current anchor positions: CLEAR CHANNEL OUTDOOR HOLDIN, ADVANCE AUTO PARTS INC, LIFECORE BIOMEDICAL INC, FIVE9 INC, NN INC.
Over the last 9 quarters its long book ran on average 1.8pp per quarter behind the S&P 500, beating the index in 6 of 9 quarters. We rate its filings highest-signal: new buys here are worth attention.
Implied long-book return vs S&P 500
methodology: positions priced quarterly, no shorts/options Fund long book S&P 500
Q1 2024
-14.5%
Q2 2024
+3.7%
Q3 2024
+8.4%
Q4 2024
-19.9%
Q1 2025
+11.0%
Q2 2025
+13.5%
Q3 2025
+4.1%
Q4 2025
-3.9%
Q1 2026
+21.4%
Sector allocation
Services media 46%
Consumer discretionary 31%
Healthcare 12%
Technology 7%
Industrials 5%
Long book by quarter
What does Legion Partners own?
Q1 2026 13F| Company | Sector | Shares | Value | % of book | Change |
|---|---|---|---|---|---|
| CCO CLEAR CHANNEL OUTDOOR HOLDIN | Services media | 26.2M | $62.2M | 45.1% | +0.5% |
| AAP ADVANCE AUTO PARTS INC | Consumer discretionary | 800.8K | $42.2M | 30.7% | Held |
| LFCR LIFECORE BIOMEDICAL INC | Healthcare | 4.5M | $16.6M | 12.0% | Held |
| FIVN FIVE9 INC | Technology | 591.7K | $9.0M | 6.5% | Held |
| NNBR NN INC | Industrials | 4.8M | $6.9M | 5.0% | Held |
| PAYO PAYONEER GLOBAL INC | Services media | 169.6K | $819K | 0.6% | Held |
13F filing history
| Period | Form | Filed | Entries | Reported value | Flags | Source |
|---|---|---|---|---|---|---|
| Q1 2026 | 13F-HR | May 15, 2026 | 6 | $137.7M | canonical | SEC ↗ |
| Q4 2025 | 13F-HR | Feb 17, 2026 | 7 | $171.7M | canonical | SEC ↗ |
| Q3 2025 | 13F-HR | Nov 14, 2025 | 7 | $184.8M | canonical | SEC ↗ |
| Q2 2025 | 13F-HR | Aug 14, 2025 | 7 | $166.4M | canonical | SEC ↗ |
| Q1 2025 | 13F-HR | May 15, 2025 | 7 | $150.6M | canonical | SEC ↗ |
| Q4 2024 | 13F-HR | Feb 14, 2025 | 7 | $171.5M | canonical | SEC ↗ |
| Q3 2024 | 13F-HR | Nov 14, 2024 | 13 | $288.3M | canonical | SEC ↗ |
| Q2 2024 | 13F-HR | Aug 14, 2024 | 14 | $324.1M | canonical | SEC ↗ |
| Q1 2024 | 13F-HR | May 15, 2024 | 13 | $431.9M | canonical | SEC ↗ |
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