Callodine Capital Management, LP
Long book
$1.42B
Q1 2026
Positions
55
Top-10 weight
51%
concentration
Last quarter
+10.5%
SPY +14.8%
Turnover
25%
of book per quarter
Strategy in plain words
auto-generated from filingsCallodine Capital Management, LP is a concentrated fundamental stock-picker, running a $1.42B US long book across 55 positions.
The portfolio is concentrated: the top 10 names carry 51% of the portfolio. Turnover is modest: positions are typically held for years. Current anchor positions: SPECTRUM BRANDS HOLDINGS INC, VIATRIS INC, WOLVERINE WORLD WIDE INC, GSK PLC-SPON ADR, BRITISH AMERICAN TOB-SP ADR.
Over the last 9 quarters its long book ran on average 1.4pp per quarter behind the S&P 500, beating the index in 3 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
+1.4%
Q2 2024
+9.8%
Q3 2024
+3.3%
Q4 2024
-6.0%
Q1 2025
+1.2%
Q2 2025
+6.2%
Q3 2025
+1.1%
Q4 2025
+0.2%
Q1 2026
+10.5%
Sector allocation
Technology 25%
Financials 20%
Other 14%
Healthcare 12%
Services media 10%
Consumer discretionary 5%
Energy 5%
Utilities 4%
Long book by quarter
What does Callodine Capital own?
Q1 2026 13F| Company | Sector | Shares | Value | % of book | Change |
|---|---|---|---|---|---|
| SPB SPECTRUM BRANDS HOLDINGS INC | Technology | 2.0M | $151.0M | 10.7% | -0.8% |
| VTRS VIATRIS INC | Healthcare | 8.1M | $109.7M | 7.7% | -16.1% |
| WWW WOLVERINE WORLD WIDE INC | Other | 4.5M | $73.5M | 5.2% | +27.8% |
| GPN GLOBAL PAYMENTS INC | Services media | 851.3K | $57.3M | 4.0% | +47.0% |
| MTCH MATCH GROUP INC | Technology | 1.7M | $51.9M | 3.7% | +4.9% |
| BX BLACKSTONE INC | Financials | 451.0K | $51.9M | 3.7% | New |
| PRDO PERDOCEO EDUCATION CORP | Services media | 1.3M | $49.0M | 3.5% | +36.6% |
| APO APOLLO GLOBAL MANAGEMENT INC | Financials | 438.5K | $48.9M | 3.4% | -4.8% |
| COF CAPITAL ONE FINANCIAL CORP | Financials | 263.0K | $48.0M | 3.4% | +16.2% |
| OVV OVINTIV INC | Energy | 733.8K | $43.6M | 3.1% | +1203.2% |
| ET ENERGY TRANSFER LP | Utilities | 1.9M | $36.2M | 2.6% | +18.3% |
| OC OWENS CORNING | Industrials | 326.7K | $35.4M | 2.5% | +41.3% |
| WFC WELLS FARGO & CO | Financials | 396.0K | $31.5M | 2.2% | +290.1% |
| SSNC SS&C TECHNOLOGIES HOLDINGS | Technology | 449.4K | $30.4M | 2.1% | +89.4% |
| OWL BLUE OWL CAPITAL INC | Financials | 3.0M | $26.9M | 1.9% | -41.5% |
| BAX BAXTER INTERNATIONAL INC | Healthcare | 1.3M | $22.1M | 1.6% | -18.5% |
| TGT TARGET CORP | Consumer discretionary | 176.1K | $21.3M | 1.5% | +39.8% |
| SSTK SHUTTERSTOCK INC | Technology | 1.3M | $21.1M | 1.5% | +23.0% |
| TSLX SIXTH STREET SPECIALTY LENDI | — | 1.1M | $20.8M | 1.5% | +2.5% |
| ON ON SEMICONDUCTOR | Technology | 330.7K | $20.5M | 1.4% | +166.3% |
| BBWI BATH & BODY WORKS INC | Consumer discretionary | 1.1M | $19.6M | 1.4% | New |
| MO ALTRIA GROUP INC | Consumer staples | 264.8K | $17.5M | 1.2% | -43.8% |
| JACK JACK IN THE BOX INC | Consumer discretionary | 1.8M | $17.0M | 1.2% | +3.5% |
| UGI UGI CORP | Utilities | 387.3K | $14.1M | 1.0% | -42.7% |
| FSK FS KKR CAPITAL CORP | — | 1.3M | $13.6M | 1.0% | New |
| LAZ LAZARD INC | Financials | 308.4K | $13.1M | 0.9% | New |
| GPK GRAPHIC PACKAGING HOLDING CO | Other | 1.0M | $10.2M | 0.7% | +0.4% |
| GEL GENESIS ENERGY L.P. | Energy | 485.0K | $8.6M | 0.6% | +3.1% |
| MTH MERITAGE HOMES CORP | Industrials | 135.0K | $8.3M | 0.6% | New |
| TRIP TRIPADVISOR INC | Technology | 576.2K | $6.1M | 0.4% | New |
| NCDL NUVEEN CHURCHILL DIRECT LEND | — | 450.0K | $5.7M | 0.4% | -18.1% |
| MFIC MIDCAP FINANCIAL INVESTMENT | — | 458.1K | $5.1M | 0.4% | -5.2% |
| OBDC BLUE OWL CAPITAL CORP | — | 450.0K | $5.0M | 0.4% | +50.0% |
| PAA PLAINS ALL AMER PIPELINE LP | Energy | 200.0K | $4.5M | 0.3% | +33.3% |
| CION CION INVESTMENT CORP | — | 612.4K | $4.2M | 0.3% | +8.9% |
| KBDC KAYNE ANDERSON BDC INC | — | 291.7K | $4.0M | 0.3% | -27.1% |
| GBDC GOLUB CAPITAL BDC INC | — | 200.0K | $2.5M | 0.2% | -55.6% |
| OTF BLUE OWL TECHNOLOGY FINANCE | — | 175.0K | $2.2M | 0.2% | New |
| BBDC BARINGS BDC INC | — | 260.0K | $2.1M | 0.2% | -27.1% |
| CCAP CRESCENT CAPITAL BDC INC | — | 120.0K | $1.5M | 0.1% | Held |
| TCPC BLACKROCK TCP CAPITAL CORP | — | 377.7K | $1.4M | 0.1% | New |
| BCSF BAIN CAPITAL SPECIALTY FINAN | — | 107.3K | $1.3M | 0.1% | Held |
| BXSL BLACKSTONE SECURED LENDING F | — | 37.5K | $888K | 0.1% | -50.0% |
| GETY GETTY IMAGES HOLDINGS INC | Services media | 600.0K | $476K | 0.0% | +20.0% |
13F filing history
| Period | Form | Filed | Entries | Reported value | Flags | Source |
|---|---|---|---|---|---|---|
| Q1 2026 | 13F-HR | May 15, 2026 | 56 | $1.43B | canonical | SEC ↗ |
| Q4 2025 | 13F-HR | Feb 13, 2026 | 52 | $1.25B | canonical | SEC ↗ |
| Q3 2025 | 13F-HR | Nov 13, 2025 | 53 | $1.14B | canonical | SEC ↗ |
| Q2 2025 | 13F-HR | Aug 13, 2025 | 47 | $965.7M | canonical | SEC ↗ |
| Q1 2025 | 13F-HR | May 14, 2025 | 68 | $601.2M | canonical | SEC ↗ |
| Q4 2024 | 13F-HR | Feb 13, 2025 | 62 | $484.3M | canonical | SEC ↗ |
| Q3 2024 | 13F-HR | Nov 13, 2024 | 65 | $479.6M | canonical | SEC ↗ |
| Q2 2024 | 13F-HR | Aug 13, 2024 | 63 | $428.7M | canonical | SEC ↗ |
| Q1 2024 | 13F-HR | May 14, 2024 | 61 | $413.3M | canonical | SEC ↗ |
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