CARRONADE CAPITAL MANAGEMENT, LP
Long book
$1.38B
Q1 2026
Positions
25
Top-10 weight
89%
concentration
Last quarter
+20.6%
SPY +14.8%
Turnover
15%
of book per quarter
Strategy in plain words
auto-generated from filingsCARRONADE CAPITAL MANAGEMENT, LP is a concentrated fundamental stock-picker, running a $1.38B US long book across 25 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: TALEN ENERGY CORP, TELEPHONE AND DATA SYSTEMS, VIASAT INC, VISTANCE NETWORKS INC, CENTURI HOLDINGS INC.
Over the last 9 quarters its long book ran on average 2.4pp per quarter ahead of 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
-1.5%
Q2 2024
+1.1%
Q3 2024
+18.6%
Q4 2024
+1.1%
Q1 2025
-2.9%
Q2 2025
+15.1%
Q3 2025
+5.5%
Q4 2025
+4.6%
Q1 2026
+20.6%
Sector allocation
Communications 37%
Utilities 30%
Healthcare 16%
Technology 12%
Consumer discretionary 3%
Services media 1%
Financials 0%
Long book by quarter
What does CARRONADE CAPITAL own?
Q1 2026 13F| Company | Sector | Shares | Value | % of book | Change |
|---|---|---|---|---|---|
| TLN TALEN ENERGY CORP | Utilities | 644.5K | $205.7M | 14.9% | +11.6% |
| TDS TELEPHONE AND DATA SYSTEMS | Communications | 4.6M | $194.7M | 14.1% | +10.0% |
| VSAT VIASAT INC | Communications | 3.2M | $147.9M | 10.7% | +8.6% |
| VISN VISTANCE NETWORKS INC | Technology | 7.6M | $139.2M | 10.1% | +394.3% |
| CTRI CENTURI HOLDINGS INC | Utilities | 4.6M | $133.3M | 9.7% | +14.4% |
| BKD BROOKDALE SENIOR LIVING INC | Healthcare | 8.6M | $117.5M | 8.5% | +16.8% |
| ECHO ECHOSTAR CORP-A | Communications | 583.1K | $68.3M | 4.9% | -9.4% |
| ACHC ACADIA HEALTHCARE CO INC | Healthcare | 2.3M | $54.7M | 4.0% | New |
| CNNE CANNAE HOLDINGS INC | Consumer discretionary | 3.3M | $37.1M | 2.7% | Held |
| OPTU OPTIMUM COMMUNICATIONS INC-A | Communications | 6.6M | $8.5M | 0.6% | +9.3% |
| WW WW INTERNATIONAL INC-NEW | Services media | 456.7K | $6.3M | 0.5% | -0.2% |
| SPHR SPHERE ENTERTAINMENT CO | Services media | 45.7K | $5.4M | 0.4% | New |
| CYH COMMUNITY HEALTH SYSTEMS INC | Healthcare | 1.3M | $3.9M | 0.3% | +306.7% |
| CORZ CORE SCIENTIFIC INC | Financials | 101.1K | $1.5M | 0.1% | +1.1% |
13F filing history
| Period | Form | Filed | Entries | Reported value | Flags | Source |
|---|---|---|---|---|---|---|
| Q1 2026 | 13F-HR | May 15, 2026 | 32 | $7.65B | canonical | SEC ↗ |
| Q4 2025 | 13F-HR/ARESTATEMENT | May 15, 2026 | 31 | $7.34B | canonical | SEC ↗ |
| Q4 2025 | 13F-HR | Feb 13, 2026 | 31 | $7.31B | SEC ↗ | |
| Q3 2025 | 13F-HR | Nov 14, 2025 | 33 | $4.33B | canonical | SEC ↗ |
| Q2 2025 | 13F-HR/ARESTATEMENT | Aug 19, 2025 | 27 | $1.40B | canonical | SEC ↗ |
| Q2 2025 | 13F-HR | Aug 14, 2025 | 27 | $1.33B | SEC ↗ | |
| Q1 2025 | 13F-HR/ARESTATEMENT | Aug 19, 2025 | 31 | $1.79B | canonical | SEC ↗ |
| Q1 2025 | 13F-HR | May 15, 2025 | 31 | $1.71B | SEC ↗ | |
| Q4 2024 | 13F-HR/ARESTATEMENT | Aug 19, 2025 | 38 | $1.88B | canonical | SEC ↗ |
| Q4 2024 | 13F-HR | Feb 14, 2025 | 37 | $1.83B | SEC ↗ | |
| Q3 2024 | 13F-HR | Nov 14, 2024 | 32 | $1.52B | canonical | SEC ↗ |
| Q2 2024 | 13F-HR | Aug 14, 2024 | 31 | $1.90B | canonical | SEC ↗ |
| Q1 2024 | 13F-HR | May 15, 2024 | 24 | $1.60B | canonical | SEC ↗ |
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