Callodine Capital Management, LP
In its 13F for Q4 2024 (holdings as of December 31, 2024, filed February 13, 2025), Callodine Capital Management, LP reported 42 stock positions worth $484.3 million. Its top holding was Spectrum Brands (SPB) at 9.2% of the portfolio, followed by Wolverine World Wide (WWW, 8.7%) and Viatris (VTRS, 7.1%). Compared with Q3 2024, it opened 7 new positions, sold out of 7, added to 14 and reduced 17. The biggest buy was a new position in Global Payments (GPN) and the biggest sale an exit from Douglas Emmett (DEI).
- Most Recent 13F
- Q2 2026
- Location
- BOSTON, MA
- CIK
- 0001741675
- Portfolio Value
- $484.3M (Q4 2024)
- SEC Filing
- 0001085146-25-001309 ↗ filed Feb 13, 2025
Holdings Value
Holdings 42 stocks · $484.3M
| SPB Spectrum Brands Holdings Inc. | 9.20% | 527,500 | $44.6M | Add +29.8% |
| WWW Wolverine World Wide Inc. | 8.72% | 1,901,616 | $42.2M | Reduce -17.8% |
| VTRS Viatris Inc. | 7.13% | 2,775,000 | $34.5M | Add +3.3% |
| OWL Blue Owl Capital Inc. | 5.40% | 1,125,000 | $26.2M | Reduce -26.2% |
| GSK GSK PLC-Spon ADR | 4.89% | 700,000 | $23.7M | Add +15.7% |
| TSLX Sixth Street Specialty Lendi | 4.73% | 1,075,000 | $22.9M | Reduce -2.3% |
| BAX Baxter International Inc. | 3.87% | 642,500 | $18.7M | Reduce -11.7% |
| SNY Sanofi-ADR | 3.83% | 384,189 | $18.5M | Add +5.5% |
| GPN Global Payments Inc. | 3.47% | 150,000 | $16.8M | New |
| ET Energy Transfer LP | 3.44% | 850,000 | $16.7M | Add +36.0% |
| MTCH Match Group Inc. | 3.09% | 457,760 | $15.0M | New |
| PRDO Perdoceo Education Corp. | 3.04% | 556,245 | $14.7M | Add +20.6% |
| JACK Jack in the Box Inc. | 2.63% | 305,377 | $12.7M | Reduce -2.6% |
| AQN Algonquin Power & Utilities | 2.39% | 2,600,000 | $11.6M | Add +30.0% |
| UGI Ugi Corp. | 2.22% | 380,100 | $10.7M | Add +29.4% |
| DNB Dun & Bradstreet Holdings Inc. | 2.18% | 845,808 | $10.5M | No change |
| SSNC Ss&c Technologies Holdings | 2.03% | 130,000 | $9.9M | Reduce -1.9% |
| WBA Walgreens Boots Alliance Inc. | 1.99% | 1,030,882 | $9.6M | Add +25.0% |
| FSK FS KKR Capital Corp. | 1.96% | 436,271 | $9.5M | Reduce -8.0% |
| AMG Affiliated Managers Group | 1.91% | 50,000 | $9.2M | Add +300.0% |
| COF Capital One Financial Corp. | 1.84% | 50,000 | $8.9M | New |
| GBDC Golub Capital BDC Inc. | 1.64% | 525,000 | $8.0M | Reduce -5.1% |
| MTB M & T Bank Corp. filed as M & T BK CORP | 1.60% | 41,271 | $7.8M | Reduce -48.4% |
| BXSL Blackstone Secured Lending F | 1.50% | 225,000 | $7.3M | No change |
| AB Alliancebernstein Holding LP | 1.38% | 180,000 | $6.7M | Reduce -60.9% |
| CIM Chimera Investment Corp. | 1.30% | 450,000 | $6.3M | Add +9.8% |
| TXNM TXNM Energy Inc. | 1.27% | 125,495 | $6.2M | Reduce -15.8% |
| NCDL Nuveen Churchill Direct Lend | 1.21% | 350,389 | $5.9M | No change |
| CION Cion Investment Corp. | 1.18% | 500,000 | $5.7M | Reduce -20.0% |
| KBDC Kayne Anderson BDC Inc. | 1.16% | 340,535 | $5.6M | No change |
| MO Altria Group Inc. | 1.08% | 100,000 | $5.2M | Reduce -28.1% |
| SHLS Shoals Technologies Group -A | 0.91% | 800,000 | $4.4M | New |
| ARCC Ares Capital Corp. | 0.90% | 200,000 | $4.4M | Reduce -20.0% |
| ARRY Array Technologies Inc. | 0.89% | 716,232 | $4.3M | Add +855.0% |
| RJF Raymond James Financial Inc. | 0.80% | 25,000 | $3.9M | Reduce -50.0% |
| GEL Genesis Energy L.P. | 0.73% | 350,000 | $3.5M | Add +40.0% |
| MFIC Midcap Financial Investment | 0.69% | 246,217 | $3.3M | Add +164.4% |
| BBDC Barings BDC Inc. | 0.59% | 300,000 | $2.9M | Reduce -45.8% |
| UPS United Parcel Service Class B | 0.58% | 22,149 | $2.8M | Reduce -1.6% |
| PAA Plains All Amer Pipeline LP | 0.35% | 100,000 | $1.7M | New |
| SEE Sealed Air Corp. | 0.14% | 20,000 | $677K | New |
| DK Delek US Holdings Inc. | 0.13% | 35,000 | $648K | New |
Portfolio Sells Q3 2024 → Q4 2024
| DEI Douglas Emmett Inc. | Sold out | 0.00% | −3.22 |
| AB Alliancebernstein Holding LP | Reduce -60.9% | 1.38% | −1.99 |
| BAX Baxter International Inc. | Reduce -11.7% | 3.87% | −1.94 |
| APO Apollo Global Management Inc. | Sold out | 0.00% | −1.71 |
| MTB M & T Bank Corp. | Reduce -48.4% | 1.60% | −1.39 |
| HUM Humana Inc. | Sold out | 0.00% | −1.07 |
| TWO Two Harbors Investment Corp. | Sold out | 0.00% | −0.88 |
| OWL Blue Owl Capital Inc. | Reduce -26.2% | 5.40% | −0.80 |
| SR Spire Inc. | Sold out | 0.00% | −0.71 |
| BBDC Barings BDC Inc. | Reduce -45.8% | 0.59% | −0.55 |
| RJF Raymond James Financial Inc. | Reduce -50.0% | 0.80% | −0.49 |
| JACK Jack in the Box Inc. | Reduce -2.6% | 2.63% | −0.44 |
| MO Altria Group Inc. | Reduce -28.1% | 1.08% | −0.41 |
| CION Cion Investment Corp. | Reduce -20.0% | 1.18% | −0.39 |
| GCMG GCM Grosvenor Inc. Class A | Sold out | 0.00% | −0.36 |
| BCSF Bain Capital Specialty Finan | Sold out | 0.00% | −0.26 |
| ARCC Ares Capital Corp. | Reduce -20.0% | 0.90% | −0.20 |
| GBDC Golub Capital BDC Inc. | Reduce -5.1% | 1.64% | −0.11 |
| TXNM TXNM Energy Inc. | Reduce -15.8% | 1.27% | −0.10 |
| UPS United Parcel Service Class B | Reduce -1.6% | 0.58% | −0.07 |
| SSNC Ss&c Technologies Holdings | Reduce -1.9% | 2.03% | −0.03 |
| TSLX Sixth Street Specialty Lendi | Reduce -2.3% | 4.73% | −0.02 |
| FSK FS KKR Capital Corp. | Reduce -8.0% | 1.96% | −0.01 |
| WWW Wolverine World Wide Inc. | Reduce -17.8% | 8.72% | +0.25 |
Portfolio Buys Q3 2024 → Q4 2024
| GPN Global Payments Inc. | New | 3.47% | +3.47 |
| MTCH Match Group Inc. | New | 3.09% | +3.09 |
| COF Capital One Financial Corp. | New | 1.84% | +1.84 |
| AMG Affiliated Managers Group | Add +300.0% | 1.91% | +1.44 |
| ET Energy Transfer LP | Add +36.0% | 3.44% | +1.33 |
| SPB Spectrum Brands Holdings Inc. | Add +29.8% | 9.20% | +1.07 |
| SHLS Shoals Technologies Group -A | New | 0.91% | +0.91 |
| PRDO Perdoceo Education Corp. | Add +20.6% | 3.04% | +0.88 |
| ARRY Array Technologies Inc. | Add +855.0% | 0.89% | +0.79 |
| UGI Ugi Corp. | Add +29.4% | 2.22% | +0.67 |
| VTRS Viatris Inc. | Add +3.3% | 7.13% | +0.57 |
| WBA Walgreens Boots Alliance Inc. | Add +25.0% | 1.99% | +0.43 |
| MFIC Midcap Financial Investment | Add +164.4% | 0.69% | +0.42 |
| PAA Plains All Amer Pipeline LP | New | 0.35% | +0.35 |
| SEE Sealed Air Corp. | New | 0.14% | +0.14 |
| DK Delek US Holdings Inc. | New | 0.13% | +0.13 |
| AQN Algonquin Power & Utilities | Add +30.0% | 2.39% | +0.10 |
| GEL Genesis Energy L.P. | Add +40.0% | 0.73% | +0.03 |
| CIM Chimera Investment Corp. | Add +9.8% | 1.30% | −0.06 |
| GSK GSK PLC-Spon ADR | Add +15.7% | 4.89% | −0.31 |
| SNY Sanofi-ADR | Add +5.5% | 3.83% | −0.59 |
Notes & Other Activity Q3 2024 → Q4 2024
| REDFIN CORP (RDFN 0.5 04/01/27) | NOTE 0.500% 4/0 · principal | Sold out | 5,500,000 | $4.0Mbefore exit |
Bonds, preferreds, convertibles and warrants; not part of the stock holdings or percentages above.
All Filings
| Quarter | Positions | 13F Reported Value | Top Holdings |
|---|---|---|---|
| Q2 2026 | 62 | $1.5B | SPB, VTRS, WWW, GPN, MTCH |
| Q1 2026 | 55 | $1.4B | SPB, VTRS, WWW, GSK, BTI |
| Q4 2025 | 52 | $1.2B | SPB, VTRS, OWL, APO, WWW |
| Q3 2025 | 52 | $1.1B | SPB, WWW, VTRS, OWL, EQH |
| Q2 2025 | 47 | $965.7M | WWW, SPB, COF, VTRS, OWL |
| Q1 2025 | 43 | $601.2M | SPB, WWW, VTRS, BAX, OWL |
| Q4 2024 | 42 | $484.3M | SPB, WWW, VTRS, OWL, GSK |
| Q3 2024 | 42 | $475.6M | WWW, SPB, VTRS, OWL, BAX |
| Q2 2024 | 42 | $425.7M | WWW, VTRS, SPB, OWL, GSK |
| Q1 2024 | 37 | $411.7M | VTRS, TSLX, WWW, SPB, AY |