Callodine Capital Management LP's Q3 2025 13F: 10 new positions, 4 exits
Form 13F-HR for the quarter ended Sep 30, 2025 · filed Nov 13, 2025 · 53 reported positions · accession 0001741675-25-000005
What changed this quarter
| Activity | Security | Weight before | Weight now | Change | Shares | Shares % |
|---|---|---|---|---|---|---|
| Reduced | WOLVERINE WORLD WIDE INC (WWW) | 8.0% | 6.5% | −1.6 pts | −1.6M sh | −37% |
| Increased | BLUE OWL CAPITAL INC (OWL) | 5.0% | 5.8% | +0.8 pts | +1.39M sh | +55% |
| Increased | SPECTRUM BRANDS HLDGS INC NE (SPB) | 7.4% | 7.9% | +0.5 pts | +361K sh | +27% |
| New | FOUR CORNERS PPTY TR INC (FCPT) | — | 1.6% | +1.6 pts | +765K sh | new |
| Exited | DELEK US HLDGS INC NEW (DK) | 1.6% | — | −1.6 pts | −717K sh | −100% |
| New | OWENS CORNING NEW (OC) | — | 1.5% | +1.5 pts | +123K sh | new |
| Reduced | CVS HEALTH CORP (CVS) | 3.7% | 2.1% | −1.6 pts | −205K sh | −39% |
| Increased | EQUITABLE HLDGS INC (EQH) | 4.3% | 4.6% | +0.3 pts | +303K sh | +41% |
| Increased | SEALED AIR CORP NEW (SEE) | 0.2% | 1.5% | +1.3 pts | +413K sh | +689% |
| Exited | WALGREENS BOOTS ALLIANCE INC (WBA) | 1.2% | — | −1.2 pts | −1.03M sh | −100% |
| Increased | REINSURANCE GRP OF AMERICA I (RGA) | 0.0% | 1.2% | +1.2 pts | +69,375 sh | +3067% |
| Increased | LIBERTY ENERGY INC (LBRT) | 1.3% | 2.3% | +1.0 pts | +1.03M sh | +98% |
| New | BRUKER CORP (BRKRP) | — | 1.0% | +1.0 pts | +40,000 sh | new |
| Reduced | CITIGROUP INC (C) | 2.0% | 1.1% | −0.9 pts | −105K sh | −47% |
| Increased | VIATRIS INC (VTRS) | 5.5% | 6.0% | +0.5 pts | +946K sh | +16% |
| Reduced | CAPITAL ONE FINL CORP (COF) | 5.9% | 4.1% | −1.7 pts | −43,629 sh | −16% |
| Exited | ELEVANCE HEALTH INC (ELV) | 0.8% | — | −0.8 pts | −19,000 sh | −100% |
| Increased | SANOFI SA (SNY) | 2.6% | 2.9% | +0.3 pts | +183K sh | +35% |
| Increased | GLOBAL PMTS INC (GPN) | 2.1% | 2.6% | +0.5 pts | +101K sh | +40% |
| Increased | APOLLO GLOBAL MGMT INC (APO) | 4.0% | 3.8% | −0.2 pts | +56,380 sh | +21% |
| Increased | SHUTTERSTOCK INC (SSTK) | 0.8% | 1.4% | +0.6 pts | +355K sh | +86% |
| New | GRAPHIC PACKAGING HLDG CO (GPK) | — | 0.6% | +0.6 pts | +350K sh | new |
| Increased | BAXTER INTL INC (BAX) | 4.6% | 3.5% | −1.1 pts | +294K sh | +20% |
| Increased | ENERGY TRANSFER L P (ET) | 1.9% | 2.1% | +0.1 pts | +335K sh | +32% |
| Increased | REALTY INCOME CORP (O) | 2.0% | 2.3% | +0.3 pts | +93,239 sh | +28% |
| Increased | PLAINS GP HLDGS L P (PAGP) | 0.5% | 0.9% | +0.4 pts | +300K sh | +125% |
| Increased | GSK PLC (GSK) | 2.4% | 2.7% | +0.3 pts | +104K sh | +17% |
| Reduced | SIXTH STREET SPECIALTY LENDI (TSLX) | 2.6% | 1.7% | −0.9 pts | −193K sh | −18% |
| Reduced | M & T BK CORP (MTB) | 1.8% | 1.2% | −0.6 pts | −21,900 sh | −24% |
| Increased | BRITISH AMERN TOB PLC (BTI) | 2.6% | 2.8% | +0.2 pts | +80,300 sh | +15% |
| Increased | TARGET CORP (TGT) | 0.2% | 0.5% | +0.3 pts | +45,000 sh | +225% |
| Increased | ALGONQUIN PWR UTILS CORP (AQN) | 2.9% | 2.6% | −0.2 pts | +741K sh | +15% |
| Increased | UGI CORP NEW (UGI) | 1.8% | 1.7% | −0.1 pts | +109K sh | +22% |
| Increased | ALTRIA GROUP INC (MO) | 2.1% | 2.3% | +0.2 pts | +49,143 sh | +14% |
| Increased | SHELL PLC (SHEL) | 0.9% | 1.0% | +0.1 pts | +42,000 sh | +34% |
| Increased | PERDOCEO ED CORP (PRDO) | 2.1% | 2.3% | +0.2 pts | +75,553 sh | +12% |
| New | OVINTIV INC (OVV) | — | 0.2% | +0.2 pts | +56,307 sh | new |
| Reduced | BLACKSTONE SECD LENDING FD (BXSL) | 0.5% | 0.2% | −0.3 pts | −72,213 sh | −42% |
| Exited | FS KKR CAP CORP (FSK) | 0.2% | — | −0.2 pts | −72,040 sh | −100% |
| Increased | MATCH GROUP INC NEW (MTCH) | 4.3% | 4.3% | 0.0 pts | +44,833 sh | +3% |
| Increased | JACK IN THE BOX INC (JACK) | 2.9% | 2.9% | 0.0 pts | +75,572 sh | +5% |
| New | BRUKER CORP (BRKR) | — | 0.1% | +0.1 pts | +34,000 sh | new |
| Reduced | ARES CAPITAL CORP (ARCC) | 0.2% | 0.1% | −0.1 pts | −50,000 sh | −50% |
| Increased | KAYNE ANDERSON BDC INC (KBDC) | 0.5% | 0.5% | −0.1 pts | +62,270 sh | +18% |
| New | STARWOOD PPTY TR INC (STWD) | — | 0.1% | +0.1 pts | +39,360 sh | new |
| New | AGREE RLTY CORP (ADC) | — | 0.1% | +0.1 pts | +10,000 sh | new |
| Increased | NUVEEN CHURCHILL DIRECT LEND (NCDL) | 0.9% | 0.7% | −0.2 pts | +47,800 sh | +9% |
| New | EXTRA SPACE STORAGE INC (EXR) | — | 0.0% | 0.0 pts | +4,000 sh | new |
| Increased | SS&C TECHNOLOGIES HLDGS INC (SSNC) | 1.7% | 1.5% | −0.1 pts | +6,130 sh | +3% |
| New | UDR INC (UDR) | — | 0.0% | 0.0 pts | +10,000 sh | new |
The 50 largest of 54 changes, by size of the trade. Full holdings for this quarter.
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 — 49.5% of the equity book
Changes in the top 10 this quarter: JACK entered · CVS left
| # | Security | Weight before | Weight now | |
|---|---|---|---|---|
| 1 | SPECTRUM BRANDS HLDGS INC NE (SPB) | 7.4% | 7.9% | |
| 2 | WOLVERINE WORLD WIDE INC (WWW) | 8.0% | 6.5% | |
| 3 | VIATRIS INC (VTRS) | 5.5% | 6.0% | |
| 4 | BLUE OWL CAPITAL INC (OWL) | 5.0% | 5.8% | |
| 5 | EQUITABLE HLDGS INC (EQH) | 4.3% | 4.6% | |
| 6 | MATCH GROUP INC NEW (MTCH) | 4.3% | 4.3% | |
| 7 | CAPITAL ONE FINL CORP (COF) | 5.9% | 4.1% | |
| 8 | APOLLO GLOBAL MGMT INC (APO) | 4.0% | 3.8% | |
| 9 | BAXTER INTL INC (BAX) | 4.6% | 3.5% | |
| 10 | JACK IN THE BOX INC (JACK) | 2.9% | 2.9% | Entered the top 10 |
| — | CVS HEALTH CORP (CVS) | 3.7% | 2.1% | 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).