Engine NO. 1
San Francisco, CAfiles as ENGINE NO. 1 LLC
$89m in 6 US stocks at the end of 30 September 2025. The top 10 are 100.0% of the money. It changed about 27.0% of the portfolio this quarter.
Value
$89m
Stocks
6
Top 10 share
100.0%
Turnover
27.0%
What changed this quarter
New
Bought for the first time this quarter.
- First SolarFSLR11.9% of the fund
- Herc HoldingsHRI9.7% of the fund
- Spdr Gold TRGLD5.3% of the fund
Added
Bought more of a stock they already held.
- Vertiv HoldingsVRT27.2% of the fund+31%
Cut
Sold some of their stake.
None this quarter.
Sold out
Sold their entire stake.
- EatonETN-100%
Holdings
- Spdr Gold TRGLD
- Share
- 5.3%
- Value
- $5m
- Shares
- 13,100
New
| Company | Share of fund | Value | Shares | Change |
|---|---|---|---|---|
| Powell IndustriesPOWL | 40.9% | $36m | 119,000 | Held |
| Vertiv HoldingsVRT | 27.2% | $24m | 160,000 | +31% |
| First SolarFSLR | 11.9% | $11m | 48,000 | New |
| Herc HoldingsHRI | 9.7% | $9m | 74,000 | New |
| Spdr Gold TRGLD | 5.3% | $5m | 13,100 | New |
| HubbellHUBB | 4.9% | $4m | 10,000 | Held |
Over time and by industry
Value over time
Sep '25
Value is up 60.6% since 30 June 2025.
Where the money is
Technology62.6%
Industrials32.1%
Other5.3%
From the fund's 13F filings. They list US stocks and options only, 45 days after each quarter, and leave out cash, bonds, shorts and foreign shares.