Wilsey Nearly Liquidates its Entire $41.3 Million Tapestry (NYSE: TPR) Position
Key Points
Wilsey Asset Management sold 394,937 shares of Tapestry during the quarter ended September 30, 2025. The estimated transaction value was $41.33 million based on the average price for the quarter.
The trade represented 7.6% of WILSEY Asset Management’s 13F reportable assets under management (AUM) as of Q3 2025.
Post-sale, the fund holds 2,606 shares of Tapestry valued at $295,051 as of September 30, 2025.
Tapestry made up 6.4% of AUM in the previous quarter (Q2 2025), but now represents just 0.1%, placing it outside the fund’s top five holdings.
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Wilsey Asset Management disclosed on October 8, 2025, that it sold 394,937 shares of Tapestry (NYSE:TPR) in its Form 13F filing, an estimated $41.33 million trade based on the average price for Q3 2025.
What happened
According to a filing with the Securities and Exchange Commission dated October 8, 2025, Wilsey Asset Management sold 394,937 shares of Tapestry during the quarter. The estimated value of the trade was $41.33 million based on the quarter’s average share price. Following the transaction, the firm’s remaining stake in Tapestry is 2,606 shares, with a value of $295,051 as of quarter-end.
What else to know
The sale reduced Tapestry from 6.4% of the fund’s AUM at the end of the prior quarter to 0.05% currently.
Fund’s top five holdings after the filing:
- Microsoft: $57.66 million (10.6% of AUM) as of September 30, 2025
- Wells Fargo: $46.33 million (8.5% of AUM) as of September 30, 2025
- JP Morgan Chase: $43.94 million (8.1% of AUM) as of September 30, 2025
- General Motors: $38.70 million (7.1% of AUM) as of September 30, 2025
- Stanley Black & Decker: $37.84 million (6.9% of AUM) as of September 30, 2025
As of October 8, 2025, Tapestry shares were priced at $116.81, outperforming the S&P 500 by 141.82 percentage points over the past year.
Company overview
| Metric | Value |
|---|---|
| Revenue (TTM) | $7.01 billion |
| Net income (TTM) | $183.2 million |
| Dividend yield | 1.24% |
| Price (as of market close October 8, 2025) | $116.81 |
Company snapshot
Tapestry offers luxury accessories and lifestyle products, including handbags, small leather goods, footwear, jewelry, and fragrances under the Coach and Kate Spade brands.
It generates revenue through direct-to-consumer retail stores, e-commerce platforms, and wholesale channels, with a global footprint spanning North America, Asia, and other international markets.
The company serves fashion-conscious consumers seeking premium branded products, with a focus on both women and men in the mid-to-high income segments.
With a diversified distribution model and a strong presence in both physical retail and digital commerce, Tapestry maintains competitive positioning in the evolving luxury landscape.
Foolish take
Luxury retail stocks can be notoriously fickle, and Tapestry perfectly embodies this notion.
Tapestry stock essentially traded sideways for nearly two decades, seeing a $30 share price in 2005 and $30 share price again in 2024.
A lot happened to the business in between, but its stock roundtripped back to where it started, more or less.
However, in the last two years Tapestry's stock nearly quadrupled, prompting Wilsey to all-but-sellout of its stake in the company.
With luxury lifestyle brands like Coach and Kate Spade subject to the whims of what consumers deem fashionable at any point in time, Wilsey cashed out while things were looking good.
Setting record revenue and margins in its latest quarter, Tapestry added 1 million new customers -- 70% of which were millenials and Gen Z shoppers.
While Tapestry looks to be firing on all cylinders these days, its incredble share price ascension may be a better opportunity to sell the cyclical luxury goods retailer, like Wilsey did.
Glossary
Form 13F: A quarterly report filed by institutional investment managers to disclose their equity holdings.
Assets under management (AUM): The total market value of investments managed by a fund or firm on behalf of clients.
Reportable assets: Investments that must be disclosed in regulatory filings, such as Form 13F.
Quarter (Q2, Q3): A three-month period in a company's financial year, used for reporting and analysis.
Top five holdings: The five largest investments in a fund's portfolio by market value.
Dividend yield: Annual dividends paid by a company divided by its share price, expressed as a percentage.
Direct-to-consumer: Sales made directly from a company to end customers, bypassing third-party retailers.
Wholesale channels: Distribution methods where products are sold in bulk to retailers or distributors, not directly to consumers.
Global footprint: The presence and operations of a company in multiple countries or regions worldwide.
Distribution model: The strategy a company uses to deliver products to customers, including retail, online, and wholesale methods.
Luxury landscape: The competitive environment and trends within the high-end goods industry.
TTM: The 12-month period ending with the most recent quarterly report.
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JPMorgan Chase is an advertising partner of Motley Fool Money. Wells Fargo is an advertising partner of Motley Fool Money. Josh Kohn-Lindquist has no position in any of the stocks mentioned. The Motley Fool has positions in and recommends JPMorgan Chase and Microsoft. The Motley Fool recommends General Motors and Tapestry and recommends the following options: long January 2026 $395 calls on Microsoft and short January 2026 $405 calls on Microsoft. The Motley Fool has a disclosure policy.
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