Callodine Capital Management, LP
In its 13F for Q2 2025 (holdings as of June 30, 2025, filed August 13, 2025), Callodine Capital Management, LP reported 47 stock positions worth $965.7 million. Its top holding was Wolverine World Wide (WWW) at 8.0% of the portfolio, followed by Spectrum Brands (SPB, 7.4%) and Capital One Financial (COF, 5.9%). Compared with Q1 2025, it opened 8 new positions, sold out of 4, added to 27 and reduced 5. The biggest buy was a new position in British American Tob-SP ADR (BTI) and the biggest sale Global Payments (GPN, shares −2%).
- Most Recent 13F
- Q2 2026
- Location
- BOSTON, MA
- CIK
- 0001741675
- Portfolio Value
- $965.7M (Q2 2025)
- SEC Filing
- 0001085146-25-005015 ↗ filed Aug 13, 2025
Holdings Value
Holdings 47 stocks · $965.7M
| WWW Wolverine World Wide Inc. | 8.05% | 4,297,586 | $77.7M | Add +41.0% |
| SPB Spectrum Brands Holdings Inc. | 7.43% | 1,354,057 | $71.8M | Add +85.5% |
| COF Capital One Financial Corp. | 5.85% | 265,708 | $56.5M | Add +77.1% |
| VTRS Viatris Inc. | 5.54% | 5,995,000 | $53.5M | Add +65.4% |
| OWL Blue Owl Capital Inc. | 5.01% | 2,517,531 | $48.4M | Add +68.1% |
| BAX Baxter International Inc. | 4.59% | 1,462,500 | $44.3M | Add +66.7% |
| MTCH Match Group Inc. | 4.33% | 1,355,000 | $41.9M | Add +67.3% |
| EQH Equitable Holdings Inc. | 4.30% | 739,843 | $41.5M | Add +131.0% |
| APO Apollo Global Management Inc. | 3.97% | 270,000 | $38.3M | Add +236.2% |
| CVS CVS Health Corp. | 3.70% | 518,000 | $35.7M | Add +78.6% |
| JACK Jack in the Box Inc. | 2.93% | 1,619,932 | $28.3M | Add +139.8% |
| AQN Algonquin Power & Utilities | 2.87% | 4,840,969 | $27.7M | Add +39.3% |
| TSLX Sixth Street Specialty Lendi | 2.63% | 1,064,824 | $25.4M | Reduce -0.0% |
| BTI British American Tob-SP ADR | 2.59% | 527,500 | $25.0M | New |
| SNY Sanofi-ADR | 2.58% | 515,209 | $24.9M | Add +26.9% |
| GSK GSK PLC-Spon ADR | 2.38% | 598,519 | $23.0M | Add +5.0% |
| PRDO Perdoceo Education Corp. | 2.15% | 634,029 | $20.7M | Add +31.8% |
| GPN Global Payments Inc. | 2.10% | 252,758 | $20.2M | Reduce -1.8% |
| MO Altria Group Inc. | 2.09% | 344,562 | $20.2M | New |
| O Realty Income Corp. | 2.00% | 335,000 | $19.3M | Add +26.4% |
| C Citigroup Inc. | 1.99% | 226,250 | $19.3M | Add +50.8% |
| ET Energy Transfer LP | 1.94% | 1,035,000 | $18.8M | Add +56.8% |
| UGI Ugi Corp. | 1.84% | 488,107 | $17.8M | Add +62.7% |
| MTB M & T Bank Corp. filed as M & T BK CORP | 1.82% | 90,632 | $17.6M | Add +229.6% |
| SSNC Ss&c Technologies Holdings | 1.65% | 192,837 | $16.0M | Add +18.9% |
| DK Delek US Holdings Inc. | 1.57% | 717,245 | $15.2M | Add +6.3% |
| LBRT Liberty Energy Inc. | 1.26% | 1,057,000 | $12.1M | Add +203.3% |
| WBA Walgreens Boots Alliance Inc. | 1.23% | 1,030,882 | $11.8M | No change |
| SHEL Shell PLC-ADR | 0.91% | 125,000 | $8.8M | New |
| NCDL Nuveen Churchill Direct Lend | 0.88% | 525,000 | $8.5M | Add +5.0% |
| GEL Genesis Energy L.P. | 0.84% | 470,287 | $8.1M | Add +4.5% |
| SSTK Shutterstock Inc. | 0.81% | 413,227 | $7.8M | New |
| GBDC Golub Capital BDC Inc. | 0.79% | 521,238 | $7.6M | Reduce -0.7% |
| ELV Elevance Health Inc. | 0.77% | 19,000 | $7.4M | New |
| MFIC Midcap Financial Investment | 0.65% | 500,000 | $6.3M | Add +22.0% |
| BXSL Blackstone Secured Lending F | 0.55% | 172,213 | $5.3M | Reduce -13.9% |
| CION Cion Investment Corp. | 0.55% | 550,000 | $5.3M | Add +10.0% |
| KBDC Kayne Anderson BDC Inc. | 0.53% | 337,730 | $5.2M | No change |
| PAGP Plains GP Holdings LP | 0.48% | 240,000 | $4.7M | New |
| OBDC Blue Owl Capital Corp. | 0.48% | 325,000 | $4.7M | No change |
| PAA Plains All Amer Pipeline LP | 0.28% | 150,000 | $2.7M | No change |
| BBDC Barings BDC Inc. | 0.27% | 284,024 | $2.6M | Reduce -5.3% |
| ARCC Ares Capital Corp. | 0.23% | 100,000 | $2.2M | No change |
| TGT Target Corp. | 0.20% | 20,000 | $2.0M | New |
| SEE Sealed Air Corp. | 0.19% | 60,000 | $1.9M | No change |
| FSK FS KKR Capital Corp. | 0.15% | 72,040 | $1.5M | No change |
| RGA Reinsurance Group of America | 0.05% | 2,262 | $449K | New |
Portfolio Sells Q1 2025 → Q2 2025
| GPN Global Payments Inc. | Reduce -1.8% | 2.10% | −2.10 |
| TSLX Sixth Street Specialty Lendi | Reduce -0.0% | 2.63% | −1.34 |
| AB Alliancebernstein Holding LP | Sold out | 0.00% | −1.11 |
| CIM Chimera Investment Corp. | Sold out | 0.00% | −0.85 |
| ARRY Array Technologies Inc. | Sold out | 0.00% | −0.66 |
| GBDC Golub Capital BDC Inc. | Reduce -0.7% | 0.79% | −0.53 |
| BXSL Blackstone Secured Lending F | Reduce -13.9% | 0.55% | −0.53 |
| ZROZ PIMCO 25+ YR Zero CPN US Tif | Sold out | 0.00% | −0.30 |
| BBDC Barings BDC Inc. | Reduce -5.3% | 0.27% | −0.21 |
Portfolio Buys Q1 2025 → Q2 2025
| BTI British American Tob-SP ADR | New | 2.59% | +2.59 |
| APO Apollo Global Management Inc. | Add +236.2% | 3.97% | +2.14 |
| MO Altria Group Inc. | New | 2.09% | +2.09 |
| EQH Equitable Holdings Inc. | Add +131.0% | 4.30% | +1.52 |
| COF Capital One Financial Corp. | Add +77.1% | 5.85% | +1.38 |
| MTB M & T Bank Corp. | Add +229.6% | 1.82% | +1.00 |
| WWW Wolverine World Wide Inc. | Add +41.0% | 8.05% | +1.00 |
| SHEL Shell PLC-ADR | New | 0.91% | +0.91 |
| SSTK Shutterstock Inc. | New | 0.81% | +0.81 |
| ELV Elevance Health Inc. | New | 0.77% | +0.77 |
| PAGP Plains GP Holdings LP | New | 0.48% | +0.48 |
| CVS CVS Health Corp. | Add +78.6% | 3.70% | +0.43 |
| LBRT Liberty Energy Inc. | Add +203.3% | 1.26% | +0.34 |
| VTRS Viatris Inc. | Add +65.4% | 5.54% | +0.29 |
| C Citigroup Inc. | Add +50.8% | 1.99% | +0.22 |
| TGT Target Corp. | New | 0.20% | +0.20 |
| UGI Ugi Corp. | Add +62.7% | 1.84% | +0.19 |
| PRDO Perdoceo Education Corp. | Add +31.8% | 2.15% | +0.13 |
| MTCH Match Group Inc. | Add +67.3% | 4.33% | +0.13 |
| RGA Reinsurance Group of America | New | 0.05% | +0.05 |
| OWL Blue Owl Capital Inc. | Add +68.1% | 5.01% | +0.02 |
| ET Energy Transfer LP | Add +56.8% | 1.94% | −0.10 |
| AQN Algonquin Power & Utilities | Add +39.3% | 2.87% | −0.10 |
| DK Delek US Holdings Inc. | Add +6.3% | 1.57% | −0.12 |
| JACK Jack in the Box Inc. | Add +139.8% | 2.93% | −0.13 |
| MFIC Midcap Financial Investment | Add +22.0% | 0.65% | −0.22 |
| CION Cion Investment Corp. | Add +10.0% | 0.55% | −0.32 |
| GEL Genesis Energy L.P. | Add +4.5% | 0.84% | −0.34 |
| BAX Baxter International Inc. | Add +66.7% | 4.59% | −0.41 |
| NCDL Nuveen Churchill Direct Lend | Add +5.0% | 0.88% | −0.53 |
| O Realty Income Corp. | Add +26.4% | 2.00% | −0.56 |
| SSNC Ss&c Technologies Holdings | Add +18.9% | 1.65% | −0.60 |
| SNY Sanofi-ADR | Add +26.9% | 2.58% | −1.17 |
| SPB Spectrum Brands Holdings Inc. | Add +85.5% | 7.43% | −1.26 |
| GSK GSK PLC-Spon ADR | Add +5.0% | 2.38% | −1.29 |
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 |