Callodine Capital Management LP's Q1 2022 13F: 11 new positions, 6 exits
Form 13F-HR for the quarter ended Mar 31, 2022 · filed May 13, 2022 · 42 reported positions · accession 0001606587-22-001162
What changed this quarter
| Activity | Security | Weight before | Weight now | Change | Shares | Shares % |
|---|---|---|---|---|---|---|
| Exited | Exelon Corp (EXC) | 3.3% | — | −3.3 pts | −137K sh | −100% |
| New | AGREE RLTY CORP (ADC) | — | 3.2% | +3.2 pts | +149K sh | new |
| New | SPECTRUM BRANDS HLDGS INC NE (SPB) | — | 2.6% | +2.6 pts | +90,699 sh | new |
| New | VALVOLINE INC (VVV) | — | 2.1% | +2.1 pts | +202K sh | new |
| New | KKR & CO INC (KKR) | — | 1.9% | +1.9 pts | +100K sh | new |
| Increased | ALTRIA GROUP INC (MO) | 2.4% | 4.0% | +1.5 pts | +108K sh | +86% |
| Increased | BLUE OWL CAPITAL INC (OWL) | 1.8% | 3.0% | +1.2 pts | +436K sh | +145% |
| New | OLIN CORP (OLN) | — | 1.8% | +1.8 pts | +105K sh | new |
| Increased | VERIZON COMMUNICATIONS INC (VZ) | 3.8% | 4.7% | +0.9 pts | +108K sh | +61% |
| Increased | GAMING & LEISURE PPTYS INC (GLPI) | 1.8% | 3.1% | +1.4 pts | +116K sh | +133% |
| Exited | FIDELITY NATIONAL INFORMATN SVCS ORD (FIS) | 1.6% | — | −1.6 pts | −36,000 sh | −100% |
| New | LPL FINL HLDGS INC (LPLA) | — | 1.5% | +1.5 pts | +25,000 sh | new |
| Reduced | DT MIDSTREAM INC (DTM) | 2.8% | 1.1% | −1.7 pts | −80,000 sh | −57% |
| New | BLACKSTONE SECD LENDING FD (BXSL) | — | 1.4% | +1.4 pts | +155K sh | new |
| Increased | MEDICAL PPTYS TRUST INC (MPW) | 3.6% | 3.8% | +0.3 pts | +190K sh | +52% |
| Exited | GILEAD SCIENCES ORD (GILD) | 1.2% | — | −1.2 pts | −40,000 sh | −100% |
| New |
CONSTELLATION ENERGY CORP (CEG)
new — newly listed security (e.g. spin-off)
|
— | 1.2% | +1.2 pts | +64,897 sh | new |
| Increased | BARINGS BDC INC (BBDC) | 3.3% | 3.7% | +0.3 pts | +353K sh | +48% |
| Increased | ARES MANAGEMENT CORPORATION (ARES) | 2.8% | 3.3% | +0.5 pts | +41,000 sh | +50% |
| Reduced | OWL ROCK CAPITAL CORPORATION (OBDC) | 2.9% | 1.3% | −1.6 pts | −225K sh | −45% |
| Increased | EQUITABLE HLDGS INC (EQH) | 4.9% | 4.6% | −0.3 pts | +96,250 sh | +26% |
| Increased | SIXTH STREET SPECIALTY LENDI (TSLX) | 4.8% | 4.7% | −0.1 pts | +126K sh | +25% |
| Reduced | NEWMONT CORP (NEM) | 1.9% | 1.0% | −0.9 pts | −35,556 sh | −47% |
| Reduced | BRINKER INTL INC (EAT) | 1.3% | 0.2% | −1.1 pts | −70,467 sh | −84% |
| Reduced | FS KKR CAP CORP (FSK) | 3.8% | 2.4% | −1.4 pts | −115K sh | −26% |
| Increased | STELLANTIS N.V (STLA) | 0.6% | 1.2% | +0.6 pts | +150K sh | +200% |
| Reduced | TCG BDC Inc (CGBD) | 3.6% | 2.2% | −1.4 pts | −160K sh | −25% |
| Increased | T-MOBILE US INC (TMUS) | 2.8% | 3.1% | +0.4 pts | +17,500 sh | +30% |
| Increased | VIATRIS INC (VTRS) | 4.4% | 3.5% | −0.9 pts | +191K sh | +24% |
| Exited | Knight-Swift Transportation Holdings Inc (KNX) | 0.6% | — | −0.6 pts | −25,000 sh | −100% |
| Increased | HELMERICH & PAYNE INC (HP) | 0.2% | 0.9% | +0.7 pts | +43,750 sh | +219% |
| New | CROWN CASTLE INTL CORP NEW (CCI) | — | 0.6% | +0.6 pts | +10,000 sh | new |
| Exited | Easterly Government Properties Inc (DEA) | 0.6% | — | −0.6 pts | −60,000 sh | −100% |
| Reduced | ARES CAPITAL CORP (ARCC) | 1.6% | 0.7% | −0.9 pts | −80,000 sh | −44% |
| Exited | Shell Midstream Partners LP (SHLX) | 0.5% | — | −0.5 pts | −100K sh | −100% |
| New | MERCK & CO INC (MRK) | — | 0.4% | +0.4 pts | +15,000 sh | new |
| New | LOCKHEED MARTIN CORP (LMT) | — | 0.4% | +0.4 pts | +2,500 sh | new |
| Reduced | BRISTOL-MYERS SQUIBB CO (BMY) | 6.9% | 6.1% | −0.9 pts | −15,000 sh | −6% |
| Reduced | TRINITY CAP INC (TRIN) | 4.4% | 3.5% | −0.9 pts | −55,625 sh | −9% |
| Increased | VISTRA CORP (VST) | 4.2% | 3.7% | −0.5 pts | +40,000 sh | +9% |
| Reduced | SLR INVESTMENT CORP (SLRC) | 1.8% | 1.2% | −0.6 pts | −40,313 sh | −17% |
| Reduced | PENNANTPARK INVT CORP (PNNT) | 5.3% | 4.6% | −0.8 pts | −74,800 sh | −4% |
| Increased | CRESCENT CAP BDC INC (CCAP) | 1.8% | 1.6% | −0.2 pts | +31,377 sh | +13% |
| Reduced | NORTONLIFELOCK INC (GEN) | 1.6% | 1.2% | −0.4 pts | −15,000 sh | −10% |
| Reduced | RADIAN GROUP INC (RDN) | 5.6% | 4.6% | −1.1 pts | −17,500 sh | −3% |
| New | BOSTON BEER INC (SAM) | — | 0.1% | +0.1 pts | +1,000 sh | new |
| Reduced | SONIC AUTOMOTIVE INC (SAH) | 4.7% | 3.1% | −1.6 pts | −5,356 sh | −2% |
Reported by the fund in its Form 13F filed with the SEC; holdings are as of the quarter-end report date and may have changed since. For informational purposes only — not investment advice or a recommendation to buy or sell any security. FilingExplorer is not affiliated with or endorsed by this fund. How this brief is compiled
Top 10 positions — 44.4% of the equity book
Changes in the top 10 this quarter: VZ entered · MO entered · MPW entered · BBDC entered · SAH left · TRIN left · VTRS left · FSK left
| # | Security | Weight before | Weight now | |
|---|---|---|---|---|
| 1 | BRISTOL-MYERS SQUIBB CO (BMY) | 6.9% | 6.1% | |
| 2 | SIXTH STREET SPECIALTY LENDI (TSLX) | 4.8% | 4.7% | |
| 3 | VERIZON COMMUNICATIONS INC (VZ) | 3.8% | 4.7% | Entered the top 10 |
| 4 | EQUITABLE HLDGS INC (EQH) | 4.9% | 4.6% | |
| 5 | RADIAN GROUP INC (RDN) | 5.6% | 4.6% | |
| 6 | PENNANTPARK INVT CORP (PNNT) | 5.3% | 4.6% | |
| 7 | ALTRIA GROUP INC (MO) | 2.4% | 4.0% | Entered the top 10 |
| 8 | MEDICAL PPTYS TRUST INC (MPW) | 3.6% | 3.8% | Entered the top 10 |
| 9 | VISTRA CORP (VST) | 4.2% | 3.7% | |
| 10 | BARINGS BDC INC (BBDC) | 3.3% | 3.7% | Entered the top 10 |
| — | SONIC AUTOMOTIVE INC (SAH) | 4.7% | 3.1% | Left the top 10 |
| — | TRINITY CAP INC (TRIN) | 4.4% | 3.5% | Left the top 10 |
| — | VIATRIS INC (VTRS) | 4.4% | 3.5% | Left the top 10 |
| — | FS KKR CAP CORP (FSK) | 3.8% | 2.4% | Left the top 10 |
Weights are each position's reported value as a share of the fund's reported equity positions (options and principal-amount holdings excluded).
Option positions (puts and calls)
Reported separately from the positions above. The value a 13F reports for an option is that of the underlying shares, not the option itself.
| Activity | Security | Type | Shares before | Shares now | Reported value |
|---|---|---|---|---|---|
| Exited | GILEAD SCIENCES ORD (GILD) | Call | 76,700 | 0 | $0 |
| Exited | GILEAD SCIENCES ORD (GILD) | Put | 76,700 | 0 | $0 |