Callodine Capital Management LP's Q3 2022 13F: 3 new positions, 8 exits
Form 13F-HR for the quarter ended Sep 30, 2022 · filed Nov 14, 2022 · 44 reported positions · accession 0001606587-22-002280
What changed this quarter
| Activity | Security | Weight before | Weight now | Change | Shares | Shares % |
|---|---|---|---|---|---|---|
| Increased | Blackstone Secured Lending Fund (BXSL) | 3.4% | 7.2% | +3.8 pts | +526K sh | +109% |
| Exited | Agree Realty Corp (ADC) | 3.7% | — | −3.7 pts | −170K sh | −100% |
| Exited | Gaming and Leisure Properties Inc (GLPI) | 2.9% | — | −2.9 pts | −212K sh | −100% |
| Reduced | Sonic Automotive Inc (SAH) | 2.3% | 0.1% | −2.2 pts | −205K sh | −98% |
| Increased | Bristol-Myers Squibb Co (BMY) | 1.7% | 3.7% | +2.0 pts | +92,500 sh | +128% |
| New | Ovintiv Inc (OVV) | — | 1.8% | +1.8 pts | +125K sh | new |
| Increased | Sixth Street Specialty Lending Inc (TSLX) | 4.9% | 6.3% | +1.4 pts | +347K sh | +40% |
| Increased | Viatris Inc (VTRS) | 3.4% | 4.6% | +1.2 pts | +645K sh | +60% |
| Exited | M&T Bank Corp (MTB) | 1.7% | — | −1.7 pts | −35,000 sh | −100% |
| Increased | Sanofi SA (SNY) | 2.5% | 3.6% | +1.1 pts | +133K sh | +80% |
| Increased | Altria Group Inc (MO) | 1.9% | 3.5% | +1.6 pts | +125K sh | +83% |
| Exited | Stanley Black & Decker Inc (SWK) | 1.6% | — | −1.6 pts | −50,000 sh | −100% |
| Increased | KKR & Co Inc (KKR) | 3.5% | 4.7% | +1.2 pts | +95,000 sh | +37% |
| Increased | Crown Castle Inc (CCI) | 0.8% | 1.9% | +1.2 pts | +27,500 sh | +183% |
| Reduced | Verizon Communications Inc (VZ) | 3.3% | 1.4% | −1.9 pts | −100K sh | −46% |
| Increased | Lennar Corp (LEN) | 1.4% | 2.7% | +1.3 pts | +50,000 sh | +77% |
| Reduced | T-Mobile US Inc (TMUS) | 1.8% | 0.8% | −1.0 pts | −25,000 sh | −56% |
| Increased | Barings BDC Inc (BBDC) | 5.6% | 6.2% | +0.6 pts | +387K sh | +19% |
| Increased | Medical Properties Trust Inc (MPW) | 2.9% | 3.3% | +0.4 pts | +257K sh | +41% |
| Reduced | Valvoline Inc (VVV) | 2.6% | 1.7% | −0.9 pts | −87,786 sh | −29% |
| Increased | Vistra Corp (VST) | 3.6% | 4.2% | +0.6 pts | +105K sh | +20% |
| Reduced | Carlyle Secured Lending Inc (CGBD) | 1.0% | 0.3% | −0.6 pts | −164K sh | −66% |
| Increased | Merck & Co Inc (MRK) | 4.2% | 4.8% | +0.5 pts | +20,652 sh | +13% |
| Increased | Blue Owl Capital Inc (OWL) | 2.6% | 3.0% | +0.5 pts | +190K sh | +22% |
| Increased | Newmont Corporation (NEM) | 0.2% | 0.7% | +0.4 pts | +37,387 sh | +296% |
| New | Big Lots Inc (BIG) | — | 0.5% | +0.5 pts | +100K sh | new |
| Reduced | Stellantis NV (STLA) | 1.0% | 0.6% | −0.5 pts | −125K sh | −45% |
| Increased | Trinity Capital Inc (TRIN) | 2.7% | 2.9% | +0.2 pts | +106K sh | +17% |
| Reduced | Ares Capital Corp (ARCC) | 1.6% | 1.2% | −0.4 pts | −75,995 sh | −25% |
| Exited | Tortoise Midstream Energy Fund Inc (NTG) | 0.4% | — | −0.4 pts | −39,940 sh | −100% |
| Increased | Equitable Holdings Inc (EQH) | 3.8% | 4.4% | +0.6 pts | +44,990 sh | +9% |
| Exited | Helmerich and Payne Inc (HP) | 0.3% | — | −0.3 pts | −23,954 sh | −100% |
| Exited | Entergy Corp (ETR) | 0.3% | — | −0.3 pts | −7,500 sh | −100% |
| Reduced | Radian Group Inc (RDN) | 5.3% | 5.2% | −0.1 pts | −37,500 sh | −4% |
| Reduced | Spectrum Brands Holdings Inc (SPB) | 2.9% | 1.2% | −1.7 pts | −17,500 sh | −15% |
| Exited | Burlington Stores Inc (BURL) | 0.2% | — | −0.2 pts | −5,000 sh | −100% |
| Reduced | Olin Corp (OLN) | 1.1% | 0.9% | −0.2 pts | −15,000 sh | −19% |
| Reduced | Ares Management Corp (ARES) | 4.0% | 4.4% | +0.4 pts | −10,000 sh | −4% |
| Reduced | Crescent Capital BDC Inc (CCAP) | 1.3% | 1.1% | −0.2 pts | −37,780 sh | −14% |
| Increased | NortonLifeLock Inc (GEN) | 1.2% | 1.3% | +0.1 pts | +25,000 sh | +14% |
| Increased | Golub Capital Bdc Inc (GBDC) | 0.2% | 0.3% | +0.1 pts | +35,000 sh | +70% |
| Reduced | FS KKR Capital Corp (FSK) | 2.3% | 2.0% | −0.3 pts | −25,000 sh | −6% |
| Reduced | Energy Transfer LP (ET) | 0.7% | 0.8% | 0.0 pts | −25,000 sh | −10% |
| Increased | SLR Investment Corp (SLRC) | 0.8% | 0.8% | 0.0 pts | +18,689 sh | +11% |
| New | Gap Inc (GAP) | — | 0.1% | +0.1 pts | +25,000 sh | new |
| Increased | Pennantpark Investment Corp (PNNT) | 3.4% | 3.2% | −0.2 pts | +25,000 sh | +1% |
| Reduced | Red Robin Gourmet Burgers Inc (RRGB) | 0.5% | 0.4% | −0.1 pts | −19,915 sh | −9% |
| Reduced | Owl Rock Capital Corp (OBDC) | 1.2% | 1.0% | −0.2 pts | −5,000 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 — 52.1% of the equity book
Changes in the top 10 this quarter: VTRS entered · ADC left
| # | Security | Weight before | Weight now | |
|---|---|---|---|---|
| 1 | Blackstone Secured Lending Fund (BXSL) | 3.4% | 7.2% | |
| 2 | Sixth Street Specialty Lending Inc (TSLX) | 4.9% | 6.3% | |
| 3 | Barings BDC Inc (BBDC) | 5.6% | 6.2% | |
| 4 | Radian Group Inc (RDN) | 5.3% | 5.2% | |
| 5 | Merck & Co Inc (MRK) | 4.2% | 4.8% | |
| 6 | KKR & Co Inc (KKR) | 3.5% | 4.7% | |
| 7 | Viatris Inc (VTRS) | 3.4% | 4.6% | Entered the top 10 |
| 8 | Equitable Holdings Inc (EQH) | 3.8% | 4.4% | |
| 9 | Ares Management Corp (ARES) | 4.0% | 4.4% | |
| 10 | Vistra Corp (VST) | 3.6% | 4.2% | |
| — | Agree Realty Corp (ADC) | 3.7% | 0.0% | 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).