Callodine Capital Management, LP
BOSTON, MA
$1.5bn in 62 US stocks at the end of 30 June 2026. The top 10 are 50.3% of the money. It changed about 15.2% of the portfolio this quarter.
Value
$1.5bn
Stocks
62
Top 10 share
50.3%
Turnover
15.2%
What changed this quarter
New
Bought for the first time this quarter.
- UnitedHealth GroupUNH3.1% of the fund
- Invitation HomesINVH1.7% of the fund
- Valley National BancorpVLY1.0% of the fund
- Virtu FinancialVIRT0.5% of the fund
- Citizens Financial GroupCFG0.2% of the fund
- Goldman Sachs BDCGSBD0.2% of the fund
- Carlyle Secured LendingCGBD0.2% of the fund
- Morgan Stanley Direct Lending FundMSDL<0.1% of the fund
- Oaktree Specialty LendingOCSL<0.1% of the fund
- Ares CapitalARCC<0.1% of the fund
- Blackstone Mortgage TrustBXMT<0.1% of the fund
- Pennantpark InvestmentPNNT<0.1% of the fund
- Verizon CommunicationsVZ<0.1% of the fund
- OFS CapitalOFS<0.1% of the fund
Added
Bought more of a stock they already held.
- Wolverine World WideWWW5.3% of the fund+8%
- Global PaymentsGPN4.7% of the fund+17%
- Capital One FinancialCOF3.7% of the fund+6%
- OvintivOVV3.5% of the fund+36%
- Meritage HomesMTH2.4% of the fund+226%
- Wells Fargo & CompanyWFC2.2% of the fund+3%
- Bath & Body WorksBBWI2.0% of the fund+28%
- Millrose PropertiesMRP1.6% of the fund+9%
- FS KKR CapitalFSK1.5% of the fund+58%
- Sixth Street Specialty LendingTSLX1.3% of the fund+4%
- Graphic Packaging HoldingGPK1.0% of the fund+36%
- Blue Owl CapitalOBDC0.4% of the fund+17%
- CION InvestmentCION0.3% of the fund+10%
- Blackstone Secured Lending FundBXSL0.3% of the fund+353%
- Blue Owl Technology FinanceOTF0.2% of the fund+71%
- Bain Capital Specialty FinanceBCSF0.2% of the fund+86%
- Barings BDCBBDC0.2% of the fund+12%
- BlackRock TCP CapitalTCPC0.2% of the fund+86%
- Crescent Capital BDCCCAP0.1% of the fund+60%
Cut
Sold some of their stake.
- Spectrum Brands HoldingsSPB9.8% of the fund-15%
- British American Tobacco p.l.c.BTI4.1% of the fund-6%
- GSKGSK3.4% of the fund-22%
- BlackstoneBX3.2% of the fund-10%
- Owens CorningOC3.0% of the fund-11%
- Perdoceo EducationPRDO2.5% of the fund-11%
- UDRUDR2.1% of the fund-4%
- Apollo Global ManagementAPO1.9% of the fund-43%
- Jack IN the BOXJACK1.8% of the fund-2%
- SS&C Technologies HoldingsSSNC1.7% of the fund-8%
- Blue Owl CapitalOWL1.4% of the fund-20%
- Plains GP Holdings LPPAGP0.5% of the fund-13%
- TripAdvisorTRIP0.5% of the fund-7%
- Extra Space StorageEXR0.5% of the fund-12%
- Nuveen Churchill Direct LendingNCDL0.3% of the fund-11%
- Baxter InternationalBAX0.2% of the fund-92%
- Kayne Anderson BDCKBDC<0.1% of the fund-65%
- LazardLAZ<0.1% of the fund-90%
- Golub Capital BDCGBDC<0.1% of the fund-71%
Sold out
Sold their entire stake.
- ON SemiconductorON-100%
- Altria GroupMO-100%
- UGIUGI-100%
- MidCap Financial InvestmentMFIC-100%
- Plains ALL Amern Pipeline LPAA-100%
- Getty Images HoldingsGETY-100%
- Starwood Property TrustSTWD-100%
Holdings
- GSKGSK
- Share
- 3.4%
- Value
- $51m
- Shares
- 979,740
-22%
- Energy Transfer L PET
- Share
- 2.4%
- Value
- $36m
- Shares
- 1,875,000
Held
- Genesis Energy L PGEL
- Share
- 0.5%
- Value
- $7m
- Shares
- 484,963
Held
- ShellSHEL
- Share
- 0.3%
- Value
- $5m
- Shares
- 66,000
Held
| Company | Share of fund | Value | Shares | Change |
|---|---|---|---|---|
| Spectrum Brands HoldingsSPB | 9.8% | $149m | 1,738,825 | -15% |
| ViatrisVTRS | 8.4% | $127m | 8,000,742 | Held |
| Wolverine World WideWWW | 5.3% | $81m | 4,882,318 | +8% |
| Global PaymentsGPN | 4.7% | $72m | 992,651 | +17% |
| Match GroupMTCH | 4.3% | $65m | 1,707,888 | Held |
| British American Tobacco p.l.c.BTI | 4.1% | $62m | 1,008,609 | -6% |
| Capital One FinancialCOF | 3.7% | $56m | 279,730 | +6% |
| OvintivOVV | 3.5% | $52m | 996,807 | +36% |
| GSKGSK | 3.4% | $51m | 979,740 | -22% |
| BlackstoneBX | 3.2% | $48m | 407,621 | -10% |
| UnitedHealth GroupUNH | 3.1% | $48m | 114,904 | New |
| Owens CorningOC | 3.0% | $46m | 290,130 | -11% |
| Four Corners Property TrustFCPT | 2.5% | $38m | 1,541,807 | Held |
| Perdoceo EducationPRDO | 2.5% | $37m | 1,165,826 | -11% |
| Meritage HomesMTH | 2.4% | $37m | 440,000 | +226% |
| Energy Transfer L PET | 2.4% | $36m | 1,875,000 | Held |
| Realty IncomeO | 2.3% | $34m | 553,473 | Held |
| Wells Fargo & CompanyWFC | 2.2% | $34m | 408,270 | +3% |
| UDRUDR | 2.1% | $32m | 804,619 | -4% |
| Bath & Body WorksBBWI | 2.0% | $31m | 1,342,750 | +28% |
| Apollo Global ManagementAPO | 1.9% | $30m | 250,318 | -43% |
| Jack IN the BOXJACK | 1.8% | $27m | 1,717,153 | -2% |
| Invitation HomesINVH | 1.7% | $26m | 850,000 | New |
| SS&C Technologies HoldingsSSNC | 1.7% | $26m | 413,751 | -8% |
| Millrose PropertiesMRP | 1.6% | $25m | 829,237 | +9% |
| TargetTGT | 1.5% | $23m | 178,442 | Held |
| FS KKR CapitalFSK | 1.5% | $22m | 2,109,688 | +58% |
| Dynex CapitalDX | 1.4% | $22m | 1,642,300 | Held |
| Blue Owl CapitalOWL | 1.4% | $21m | 2,370,486 | -20% |
| Sixth Street Specialty LendingTSLX | 1.3% | $20m | 1,176,080 | +4% |
| ShutterstockSSTK | 1.1% | $17m | 1,249,346 | Held |
| Valley National BancorpVLY | 1.0% | $16m | 1,058,323 | New |
| Graphic Packaging HoldingGPK | 1.0% | $15m | 1,405,319 | +36% |
| Plains GP Holdings LPPAGP | 0.5% | $8m | 340,000 | -13% |
| Virtu FinancialVIRT | 0.5% | $8m | 136,000 | New |
| TripAdvisorTRIP | 0.5% | $7m | 533,349 | -7% |
| Extra Space StorageEXR | 0.5% | $7m | 50,000 | -12% |
| Genesis Energy L PGEL | 0.5% | $7m | 484,963 | Held |
| Blue Owl CapitalOBDC | 0.4% | $6m | 525,000 | +17% |
| ShellSHEL | 0.3% | $5m | 66,000 | Held |
| Nuveen Churchill Direct LendingNCDL | 0.3% | $5m | 398,400 | -11% |
| CION InvestmentCION | 0.3% | $4m | 674,138 | +10% |
| Blackstone Secured Lending FundBXSL | 0.3% | $4m | 169,800 | +353% |
| Citizens Financial GroupCFG | 0.2% | $4m | 50,000 | New |
| Blue Owl Technology FinanceOTF | 0.2% | $3m | 300,000 | +71% |
| Bain Capital Specialty FinanceBCSF | 0.2% | $3m | 200,000 | +86% |
| Barings BDCBBDC | 0.2% | $2m | 290,000 | +12% |
| Goldman Sachs BDCGSBD | 0.2% | $2m | 250,000 | New |
| Carlyle Secured LendingCGBD | 0.2% | $2m | 225,000 | New |
| BlackRock TCP CapitalTCPC | 0.2% | $2m | 702,234 | +86% |
| Baxter InternationalBAX | 0.2% | $2m | 107,922 | -92% |
| Crescent Capital BDCCCAP | 0.1% | $2m | 191,958 | +60% |
| Morgan Stanley Direct Lending FundMSDL | <0.1% | $2m | 100,000 | New |
| Kayne Anderson BDCKBDC | <0.1% | $1m | 101,375 | -65% |
| LazardLAZ | <0.1% | $1m | 30,000 | -90% |
| Oaktree Specialty LendingOCSL | <0.1% | $1m | 100,000 | New |
| Ares CapitalARCC | <0.1% | $926,500 | 50,000 | New |
| Blackstone Mortgage TrustBXMT | <0.1% | $828,533 | 48,881 | New |
| Pennantpark InvestmentPNNT | <0.1% | $777,280 | 224,000 | New |
| Golub Capital BDCGBDC | <0.1% | $748,483 | 58,112 | -71% |
| Verizon CommunicationsVZ | <0.1% | $423,400 | 10,000 | New |
| OFS CapitalOFS | <0.1% | $380,005 | 107,346 | New |
Options (1)
- Blue Owl CapitalOWL
- Type
- Call
- Value
- $12m
- Contracts
- 1,345,500
| Company | Type | Value | Contracts |
|---|---|---|---|
| Blue Owl CapitalOWL | Call | $12m | 1,345,500 |
Over time and by industry
Value over time
Jun '25
Dec '25
Jun '26
Value is up 57.4% since 30 June 2025.
Where the money is
Financial services19.0%
Technology17.4%
Retail & consumer14.0%
Real estate12.1%
Health care11.7%
Everyday goods5.6%
Energy4.0%
Industrials3.0%
Materials1.0%
Media & telecom0.0%
Other12.1%
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.