Key Points
Engle Capital sold 1,213,329 shares of ACV Auctions in the fourth quarter.
The quarter-end position value decreased by $12.02 million as a result.
The move marked an exit from ACV, which previously accounted for 4.24% of the fund’s AUM as of the prior quarter.
On February 17, 2026, Engle Capital Management disclosed in a U.S. Securities and Exchange Commission filing that it sold out its stake in ACV Auctions(NYSE:ACVA), exiting 1,213,329 shares worth $12.02 million.
What happened
According to a U.S. Securities and Exchange Commission (SEC) filing dated February 17, 2026, Engle Capital Management completely exited its position in ACV Auctions(NYSE:ACVA), selling 1,213,329 shares. The quarter-end position value dropped by $12.02 million as a result.
What else to know
- Engle Capital Management sold out its ACV Auctions stake, removing a position that previously represented 4.24% of the fund’s AUM as of the prior quarter.
- Top holdings after the filing:
- NASDAQ:TLN: $28.86 million (11.1% of AUM)
- NYSE:TBBB: $25.04 million (9.7% of AUM)
- NASDAQ:LGN: $24.06 million (9.3% of AUM)
- NASDAQ:ROAD: $20.08 million (7.7% of AUM)
- NYSE:VST: $17.75 million (6.8% of AUM)
- As of February 16, 2026, ACV Auctions shares were priced at $6.61, down 65% over the past year and significantly underperforming the S&P 500’s roughly 20% gain in the same period.
Company overview
| Metric | Value |
|---|---|
| Revenue (TTM) | $759.6 million |
| Net income (TTM) | ($66.1 million) |
| Price (as of market close February 13, 2026) | $6.61 |
| One-year price change | (65%) |
Company snapshot
- ACV Auctions offers a digital marketplace for wholesale vehicle auctions, data analytics services on vehicle condition and value, and customer financing solutions.
- The firm generates revenue primarily through transaction fees on vehicle sales, value-added data services, and financial products for marketplace participants.
- It serves automotive dealers, fleet operators, and commercial sellers seeking efficient, data-driven wholesale vehicle transactions.
ACV Auctions operates at scale within the U.S. wholesale automotive market, leveraging a digital platform to streamline vehicle remarketing and data-driven decision-making. Its integrated approach combines marketplace liquidity, proprietary vehicle data, and ancillary financial services.
What this transaction means for investors
Some of the hardest investment decisions involve companies whose long-term vision still makes sense but whose near term results have disappointed, and ACV Auctions seems caught squarely in that uncomfortable middle ground.
Recent results show a business still growing but not yet delivering the profitability investors once expected. ACV generated roughly $759.6 million in revenue during 2025, up from $637.2 million one year prior as marketplace volumes expanded and dealer participation increased. However, the company still posted a $66.1 million net loss. The firm is still looking to scale its platform, with full-year revenue expected to grow 11% to 13% to a midpoint of $850 million this year. And the company still expects a loss of roughly $52 million. For some, those types of ongoing losses amid punishing investor sentiment might just be too much to handle.
Within the broader portfolio, the exit also sharpens the fund’s focus on sectors tied more directly to infrastructure and industrial demand, with top holdings leaning toward power generation, engineering services, and financial infrastructure rather than digital marketplaces. Ultimately, for long-term investors, the question is less about whether online vehicle auctions work and more about who ultimately captures the economics of that shift.
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Jonathan Ponciano has no position in any of the stocks mentioned. The Motley Fool has positions in and recommends BBB Foods and Construction Partners. The Motley Fool has a disclosure policy.
