Candelo Capital Management LP In its 13F for Q1 2026 (holdings as of March 31, 2026, filed May 15, 2026), Candelo Capital Management LP reported 22 stock positions worth $99.4 million . Its top holding was Kodiak Gas Services (KGS) at 7.5% of the portfolio, followed by Centuri (CTRI, 6.9% ) and Linde (LIN, 6.8% ). Compared with Q4 2025, it opened 5 new positions, sold out of 9, added to 3 and reduced 13. The biggest buy was a new position in Kodiak Gas Services (KGS) and the biggest sale an exit from Union Pacific (UNP).
Location NEW YORK, NY
CIK 0001845660
Portfolio Value $99.4M (Q1 2026) Holdings 22 stocks · $99.4M Holdings quarter Q2 2026 Q1 2026 Q4 2025 Q3 2025 Q2 2025 Q1 2025 Q4 2024 Q3 2024 Q2 2024 Q1 2024
Stock % Of Portfolio ▼ Shares Held Total Value Change vs Q4 2025 KGS Kodiak Gas Services Inc. 127,571 $7.4M New CTRI Centuri Holdings Inc. 235,453 $6.9M Add +64.5% LIN Linde PLC 13,690 $6.8M New GVA Granite Construction Inc. 54,261 $6.5M Add +10.5% TDY Teledyne Technologies Inc. 10,452 $6.3M Reduce -20.8% WMB Williams Cos Inc. 71,661 $5.2M New MOD Modine Manufacturing Co. 23,419 $5.1M Reduce -25.7% ADI Analog Devices Inc. 15,905 $5.1M Reduce -4.8% AMAT Applied Materials Inc. 12,900 $4.4M Reduce -1.5% MRCY Mercury Systems Inc. 60,460 $4.4M Reduce -5.9% SEI Solaris Energy Infrastructur 77,574 $4.4M Reduce -24.4% ESI Element Solutions Inc. 127,112 $4.3M Reduce -39.2% ATS Ats Corp. 151,688 $4.3M Add +514.1% ATI Ati Inc. 28,146 $4.1M Reduce -55.6% PWR Quanta Services Inc. 7,138 $3.9M No change TLN Talen Energy Corp. 11,700 $3.7M Reduce -7.1% TSM Taiwan Semiconductor-SP ADR 10,710 $3.6M Reduce -26.6% WWD Woodward Inc. 9,300 $3.3M Reduce -23.5% LNG Cheniere Energy Inc. 10,400 $3.0M New GLW Corning Inc. 19,839 $2.7M Reduce -56.0% MTSI Macom Technology Solutions H 10,120 $2.2M New CW Curtiss-Wright Corp. 2,499 $1.7M Reduce -18.8%
Options reported separately and not counted above: SMH puts ($7.7M), IWM puts ($6.2M), WWD puts ($2.1M), GE puts ($1.4M), VRT puts ($1.3M), ATI puts ($1.0M), HWM puts ($922K), DD puts ($687K), XLI puts ($404K).
Portfolio Sells Q4 2025 → Q1 2026 Portfolio Sells quarter Q2 2026 Q1 2026 Q4 2025 Q3 2025 Q2 2025 Q1 2025 Q4 2024 Q3 2024 Q2 2024 Q1 2024
Stock Change vs Q4 2025 % Of Portfolio Change To Portfolio ▲ UNP Union Pacific Corp. Sold out 0.00% −5.25 MKSI MKS Inc. Sold out 0.00% −5.12 DHR Danaher Corp. Sold out 0.00% −4.43 ATRO Astronics Corp. Sold out 0.00% −4.14 BDC Belden Inc. Sold out 0.00% −3.92 SHC Sotera Health Co. Sold out 0.00% −3.72 CHRW C.H. Robinson Worldwide Inc. Sold out 0.00% −3.11 ATI Ati Inc. Reduce -55.6% 4.12% −2.52 ECHO Echostar Corp. Class A Sold out 0.00% −2.21 KNX Knight-Swift Transportation Sold out 0.00% −2.20 GLW Corning Inc. Reduce -56.0% 2.71% −0.89 TLN Talen Energy Corp. Reduce -7.1% 3.76% −0.55 TSM Taiwan Semiconductor-SP ADR Reduce -26.6% 3.64% −0.41 ESI Element Solutions Inc. Reduce -39.2% 4.37% −0.40 WWD Woodward Inc. Reduce -23.5% 3.35% −0.00 SEI Solaris Energy Infrastructur Reduce -24.4% 4.41% +0.11 MRCY Mercury Systems Inc. Reduce -5.9% 4.44% +0.16 CW Curtiss-Wright Corp. Reduce -18.8% 1.71% +0.16 TDY Teledyne Technologies Inc. Reduce -20.8% 6.36% +0.21 ADI Analog Devices Inc. Reduce -4.8% 5.09% +0.96 MOD Modine Manufacturing Co. Reduce -25.7% 5.11% +1.27 AMAT Applied Materials Inc. Reduce -1.5% 4.44% +1.36
Portfolio Buys Q4 2025 → Q1 2026 Portfolio Buys quarter Q2 2026 Q1 2026 Q4 2025 Q3 2025 Q2 2025 Q1 2025 Q4 2024 Q3 2024 Q2 2024 Q1 2024
Stock Change vs Q4 2025 % Of Portfolio Change To Portfolio ▼ KGS Kodiak Gas Services Inc. New 7.49% +7.49 LIN Linde PLC New 6.83% +6.83 WMB Williams Cos Inc. New 5.25% +5.25 ATS Ats Corp. Add +514.1% 4.30% +3.68 CTRI Centuri Holdings Inc. Add +64.5% 6.92% +3.62 LNG Cheniere Energy Inc. New 2.97% +2.97 MTSI Macom Technology Solutions H New 2.26% +2.26 GVA Granite Construction Inc. Add +10.5% 6.54% +1.38
Options Activity Q4 2025 → Q1 2026 Security Type Change vs Q4 2025 Underlying Shares Value ▼ SMH Vaneck Semiconductor ETF put Add +185.7% 20,000 $7.7M IWM iShares Russell 2000 ETF put New 25,000 $6.2M WWD Woodward Inc. put New 6,000 $2.1M GE General Electric put New 5,000 $1.4M VRT Vertiv Holdings Co. Class A put New 5,000 $1.3M ATI Ati Inc. put New 7,000 $1.0M HWM Howmet Aerospace Inc. put New 4,000 $922K DD Dupont DE Nemours Inc. put New 15,000 $687K XLI SS Industrial Select Sector put New 2,500 $404K
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 27 $136.2M TDY, GVA, CTRI, PH, MRCY Q1 2026 22 $99.4M KGS, CTRI, LIN, GVA, TDY Q4 2025 26 $109.6M ATI, TDY, UNP, GVA, MKSI Q3 2025 26 $111.8M TDY, TRP, UNP, MOD, PWR Q2 2025 22 $104.4M PTC, TRP, ATI, TDY, DTM Q1 2025 18 $104.3M TDY, PWR, CW, LNG, PTC Q4 2024 29 $158.7M TRP, CW, GLW, ADSK, LNG Q3 2024 25 $155.4M ESI, BLDR, MMM, CSX, PTC Q2 2024 21 $135.0M ESI, AER, PTC, ENTG, WAB Q1 2024 20 $136.4M BLDR, GE, CRH, ESI, TEL