Callodine Capital Management, LP
In its 13F for Q1 2026 (holdings as of March 31, 2026, filed May 15, 2026), Callodine Capital Management, LP reported 55 stock positions worth $1.4 billion. Its top holding was Spectrum Brands (SPB) at 10.7% of the portfolio, followed by Viatris (VTRS, 7.7%) and Wolverine World Wide (WWW, 5.2%). Compared with Q4 2025, it opened 9 new positions, sold out of 6, added to 27 and reduced 17. The biggest buy was a new position in Blackstone (BX) and the biggest sale Blue Owl Capital (OWL, shares −42%).
- Most Recent 13F
- Q2 2026
- Location
- BOSTON, MA
- CIK
- 0001741675
- Portfolio Value
- $1.4B (Q1 2026)
- SEC Filing
- 0001741675-26-000003 ↗ filed May 15, 2026
Holdings Value
Holdings 55 stocks · $1.4B
| SPB Spectrum Brands Holdings Inc. | 10.65% | 2,048,783 | $151.0M | Reduce -0.8% |
| VTRS Viatris Inc. | 7.74% | 8,118,742 | $109.7M | Reduce -16.1% |
| WWW Wolverine World Wide Inc. | 5.19% | 4,505,165 | $73.5M | Add +27.8% |
| GSK GSK PLC-Spon ADR | 4.90% | 1,259,477 | $69.5M | Add +25.4% |
| BTI British American Tob-SP ADR | 4.44% | 1,077,491 | $63.0M | Add +58.4% |
| GPN Global Payments Inc. | 4.04% | 851,331 | $57.3M | Add +47.0% |
| MTCH Match Group Inc. | 3.66% | 1,690,388 | $51.9M | Add +4.9% |
| BX Blackstone Inc. | 3.66% | 450,970 | $51.9M | New |
| PRDO Perdoceo Education Corp. | 3.46% | 1,316,540 | $49.0M | Add +36.6% |
| APO Apollo Global Management Inc. | 3.45% | 438,504 | $48.9M | Reduce -4.8% |
| COF Capital One Financial Corp. | 3.38% | 262,996 | $48.0M | Add +16.2% |
| OVV Ovintiv Inc. | 3.07% | 733,807 | $43.6M | Add +1203.2% |
| FCPT Four Corners Property Trust | 2.61% | 1,565,607 | $37.0M | Add +19.6% |
| ET Energy Transfer LP | 2.55% | 1,875,000 | $36.2M | Add +18.3% |
| OC Owens Corning | 2.49% | 326,730 | $35.4M | Add +41.3% |
| O Realty Income Corp. | 2.39% | 554,923 | $34.0M | Reduce -0.9% |
| WFC Wells Fargo & Co. | 2.22% | 395,970 | $31.5M | Add +290.1% |
| SSNC Ss&c Technologies Holdings | 2.14% | 449,401 | $30.4M | Add +89.4% |
| UDR Udr Inc. | 1.99% | 833,925 | $28.2M | Add +338.9% |
| OWL Blue Owl Capital Inc. | 1.90% | 2,951,055 | $26.9M | Reduce -41.5% |
| BAX Baxter International Inc. | 1.56% | 1,312,616 | $22.1M | Reduce -18.5% |
| TGT Target Corp. | 1.51% | 176,142 | $21.3M | Add +39.8% |
| MRP Millrose Properties | 1.51% | 762,392 | $21.3M | Add +110.8% |
| DX Dynex Capital Inc. | 1.50% | 1,670,854 | $21.3M | New |
| SSTK Shutterstock Inc. | 1.49% | 1,272,139 | $21.1M | Add +23.0% |
| TSLX Sixth Street Specialty Lendi | 1.46% | 1,129,520 | $20.8M | Add +2.5% |
| ON On Semiconductor | 1.44% | 330,730 | $20.5M | Add +166.3% |
| BBWI Bath & Body Works Inc. | 1.38% | 1,050,000 | $19.6M | New |
| MO Altria Group Inc. | 1.23% | 264,844 | $17.5M | Reduce -43.9% |
| JACK Jack in the Box Inc. | 1.20% | 1,760,470 | $17.0M | Add +3.5% |
| UGI Ugi Corp. | 0.99% | 387,287 | $14.1M | Reduce -42.7% |
| FSK FS KKR Capital Corp. | 0.96% | 1,334,709 | $13.6M | New |
| LAZ Lazard Inc. | 0.92% | 308,420 | $13.1M | New |
| GPK Graphic Packaging Holding Co. | 0.72% | 1,030,776 | $10.2M | Add +0.4% |
| PAGP Plains GP Holdings LP | 0.67% | 390,000 | $9.5M | Reduce -27.8% |
| GEL Genesis Energy L.P. | 0.61% | 484,963 | $8.6M | Add +3.1% |
| MTH Meritage Homes Corp. | 0.59% | 135,000 | $8.3M | New |
| EXR Extra Space Storage Inc. | 0.52% | 56,500 | $7.4M | Add +13.0% |
| TRIP Tripadvisor Inc. | 0.43% | 576,249 | $6.1M | New |
| SHEL Shell PLC-ADR | 0.43% | 66,000 | $6.1M | Reduce -43.6% |
| NCDL Nuveen Churchill Direct Lend | 0.40% | 450,000 | $5.7M | Reduce -18.1% |
| MFIC Midcap Financial Investment | 0.36% | 458,108 | $5.1M | Reduce -5.2% |
| OBDC Blue Owl Capital Corp. | 0.35% | 450,000 | $5.0M | Add +50.0% |
| PAA Plains All Amer Pipeline LP | 0.32% | 200,000 | $4.5M | Add +33.3% |
| CION Cion Investment Corp. | 0.30% | 612,388 | $4.2M | Add +8.9% |
| KBDC Kayne Anderson BDC Inc. | 0.28% | 291,741 | $4.0M | Reduce -27.1% |
| GBDC Golub Capital BDC Inc. | 0.18% | 200,000 | $2.5M | Reduce -55.6% |
| OTF Blue Owl Technology Finance | 0.15% | 175,000 | $2.2M | New |
| BBDC Barings BDC Inc. | 0.15% | 260,000 | $2.1M | Reduce -27.1% |
| CCAP Crescent Capital BDC Inc. | 0.10% | 120,000 | $1.5M | No change |
| TCPC BlackRock TCP Capital Corp. | 0.10% | 377,726 | $1.4M | New |
| BCSF Bain Capital Specialty Finan | 0.09% | 107,349 | $1.3M | No change |
| BXSL Blackstone Secured Lending F | 0.06% | 37,500 | $888K | Reduce -50.0% |
| GETY Getty Images Holdings Inc. | 0.03% | 600,000 | $476K | Add +20.0% |
| STWD Starwood Property Trust Inc. | 0.02% | 20,000 | $344K | Reduce -49.2% |
Options reported separately and not counted above: OWL calls ($12.3M).
Portfolio Sells Q4 2025 → Q1 2026
| OWL Blue Owl Capital Inc. | Reduce -41.5% | 1.90% | −4.16 |
| LBRT Liberty Energy Inc. | Sold out | 0.00% | −3.39 |
| AQN Algonquin Power & Utilities | Sold out | 0.00% | −2.84 |
| VTRS Viatris Inc. | Reduce -16.1% | 7.74% | −1.94 |
| APO Apollo Global Management Inc. | Reduce -4.8% | 3.45% | −1.91 |
| UGI Ugi Corp. | Reduce -42.7% | 0.99% | −1.04 |
| MO Altria Group Inc. | Reduce -43.9% | 1.23% | −0.95 |
| BAX Baxter International Inc. | Reduce -18.5% | 1.56% | −0.92 |
| SOLS Solstice Adv Materials Inc. | Sold out | 0.00% | −0.66 |
| GBDC Golub Capital BDC Inc. | Reduce -55.6% | 0.18% | −0.31 |
| SHEL Shell PLC-ADR | Reduce -43.6% | 0.43% | −0.26 |
| SRLN SS Blackstone Sr Loan ETF | Sold out | 0.00% | −0.23 |
| JAAA Janus Henderson Aaa Clo ETF | Sold out | 0.00% | −0.20 |
| NCDL Nuveen Churchill Direct Lend | Reduce -18.1% | 0.40% | −0.18 |
| KBDC Kayne Anderson BDC Inc. | Reduce -27.1% | 0.28% | −0.18 |
| PAGP Plains GP Holdings LP | Reduce -27.8% | 0.67% | −0.16 |
| O Realty Income Corp. | Reduce -0.9% | 2.39% | −0.14 |
| BBDC Barings BDC Inc. | Reduce -27.1% | 0.15% | −0.11 |
| BXSL Blackstone Secured Lending F | Reduce -50.0% | 0.06% | −0.10 |
| MFIC Midcap Financial Investment | Reduce -5.2% | 0.36% | −0.08 |
| ADC Agree Realty Corp. | Sold out | 0.00% | −0.06 |
| STWD Starwood Property Trust Inc. | Reduce -49.2% | 0.02% | −0.03 |
| SPB Spectrum Brands Holdings Inc. | Reduce -0.8% | 10.65% | +0.85 |
Portfolio Buys Q4 2025 → Q1 2026
| BX Blackstone Inc. | New | 3.66% | +3.66 |
| OVV Ovintiv Inc. | Add +1203.2% | 3.07% | +2.90 |
| DX Dynex Capital Inc. | New | 1.50% | +1.50 |
| WFC Wells Fargo & Co. | Add +290.1% | 2.22% | +1.46 |
| UDR Udr Inc. | Add +338.9% | 1.99% | +1.43 |
| BBWI Bath & Body Works Inc. | New | 1.38% | +1.38 |
| BTI British American Tob-SP ADR | Add +58.4% | 4.44% | +1.35 |
| PRDO Perdoceo Education Corp. | Add +36.6% | 3.46% | +1.19 |
| FSK FS KKR Capital Corp. | New | 0.96% | +0.96 |
| GSK GSK PLC-Spon ADR | Add +25.4% | 4.90% | +0.95 |
| LAZ Lazard Inc. | New | 0.92% | +0.92 |
| ON On Semiconductor | Add +166.3% | 1.44% | +0.90 |
| MRP Millrose Properties | Add +110.8% | 1.51% | +0.64 |
| MTH Meritage Homes Corp. | New | 0.59% | +0.59 |
| TGT Target Corp. | Add +39.8% | 1.51% | +0.52 |
| SSNC Ss&c Technologies Holdings | Add +89.4% | 2.14% | +0.48 |
| ET Energy Transfer LP | Add +18.3% | 2.55% | +0.45 |
| GPN Global Payments Inc. | Add +47.0% | 4.04% | +0.44 |
| TRIP Tripadvisor Inc. | New | 0.43% | +0.43 |
| OC Owens Corning | Add +41.3% | 2.49% | +0.42 |
| FCPT Four Corners Property Trust | Add +19.6% | 2.61% | +0.19 |
| OTF Blue Owl Technology Finance | New | 0.15% | +0.15 |
| PAA Plains All Amer Pipeline LP | Add +33.3% | 0.32% | +0.10 |
| TCPC BlackRock TCP Capital Corp. | New | 0.10% | +0.10 |
| OBDC Blue Owl Capital Corp. | Add +50.0% | 0.35% | +0.05 |
| WWW Wolverine World Wide Inc. | Add +27.8% | 5.19% | +0.05 |
| GEL Genesis Energy L.P. | Add +3.1% | 0.61% | +0.02 |
| EXR Extra Space Storage Inc. | Add +13.0% | 0.52% | −0.00 |
| GETY Getty Images Holdings Inc. | Add +20.0% | 0.03% | −0.02 |
| SSTK Shutterstock Inc. | Add +23.0% | 1.49% | −0.10 |
| CION Cion Investment Corp. | Add +8.9% | 0.30% | −0.14 |
| TSLX Sixth Street Specialty Lendi | Add +2.5% | 1.46% | −0.46 |
| MTCH Match Group Inc. | Add +4.9% | 3.66% | −0.52 |
| GPK Graphic Packaging Holding Co. | Add +0.4% | 0.72% | −0.52 |
| COF Capital One Financial Corp. | Add +16.2% | 3.38% | −1.02 |
| JACK Jack in the Box Inc. | Add +3.5% | 1.20% | −1.39 |
Options Activity Q4 2025 → Q1 2026
| OWL Blue Owl Capital Inc. | call | New | 1,345,500 | $12.3M |
Calls and puts are listed by the shares they cover; their value is not part of the stock holdings 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 |