Castellan Group
In its 13F for Q4 2024 (holdings as of December 31, 2024, filed January 29, 2025), Castellan Group reported 61 stock positions worth $230.8 million. Its top holding was AppLovin Class A (APP) at 4.1% of the portfolio, followed by Microsoft (MSFT, 3.7%) and TG Therapeutics (TGTX, 3.7%). Compared with Q3 2024, it opened 11 new positions, sold out of 9, added to 10 and reduced 34. The biggest buy was a new position in TG Therapeutics (TGTX) and the biggest sale an exit from NRG Energy (NRG).
- Most Recent 13F
- Q2 2026
- Location
- LOUISVILLE, KY
- CIK
- 0001832521
- Portfolio Value
- $230.8M (Q4 2024)
- SEC Filing
- 0001832521-25-000002 ↗ filed Jan 29, 2025
Holdings Value
Holdings 61 stocks · $230.8M
| APP AppLovin Corp. Class A | 4.06% | 28,969 | $9.4M | Reduce -57.0% |
| MSFT Microsoft Corp. | 3.72% | 20,364 | $8.6M | Reduce -3.7% |
| TGTX TG Therapeutics Inc. | 3.70% | 283,679 | $8.5M | New |
| FTNT Fortinet Inc. | 3.57% | 87,208 | $8.2M | New |
| NCLH Norwegian Cruise Line Holdin | 3.53% | 316,411 | $8.1M | New |
| BLBD Blue Bird Corp. | 3.36% | 200,574 | $7.7M | New |
| VSXY Victoria's Secret & Co. | 3.16% | 176,279 | $7.3M | Reduce -27.1% |
| BKNG Booking Holdings Inc. | 3.16% | 1,466 | $7.3M | Reduce -0.9% |
| CNK Cinemark Holdings Inc. | 2.92% | 217,863 | $6.7M | Reduce -1.1% |
| FTDR Frontdoor Inc. | 2.90% | 122,271 | $6.7M | Reduce -0.2% |
| NVDA Nvidia Corp. | 2.88% | 49,447 | $6.6M | Reduce -8.2% |
| LNG Cheniere Energy Inc. | 2.84% | 30,544 | $6.6M | Reduce -0.4% |
| GAP The Gap Inc. | 2.79% | 272,408 | $6.4M | Add +2.3% |
| MOD Modine Manufacturing Co. | 2.62% | 52,230 | $6.1M | Reduce -0.4% |
| CHWY Chewy Inc. Class A | 2.59% | 178,179 | $6.0M | Reduce -1.2% |
| MCK McKesson Corp. | 2.53% | 10,244 | $5.8M | Add +0.4% |
| HALO Halozyme Therapeutics Inc. | 2.41% | 116,470 | $5.6M | Add +2.4% |
| GLTR Abrdn Precious Metals Basket | 2.34% | 49,197 | $5.4M | Reduce -9.1% |
| MTH Meritage Homes Corp. | 2.24% | 33,585 | $5.2M | Add +5.0% |
| KBH KB Home | 2.23% | 78,155 | $5.1M | Add +3.4% |
| XLE SS Energy Select Sector | 2.21% | 59,555 | $5.1M | Reduce -2.0% |
| THC Tenet Healthcare Corp. | 2.17% | 39,588 | $5.0M | Add +4.4% |
| HESM Hess Midstream LP Class A | 1.57% | 98,110 | $3.6M | Reduce -8.1% |
| EGP Eastgroup Properties Inc. | 1.57% | 22,569 | $3.6M | New |
| WEC WEC Energy Group Inc. | 1.57% | 38,460 | $3.6M | New |
| ES Eversource Energy | 1.54% | 62,036 | $3.6M | New |
| DKL Delek Logistics Partners LP | 1.50% | 82,142 | $3.5M | Add +3.8% |
| UDR Udr Inc. | 1.50% | 79,579 | $3.5M | Reduce -7.8% |
| CTRE Caretrust REIT Inc. | 1.47% | 125,624 | $3.4M | New |
| EXR Extra Space Storage Inc. | 1.37% | 21,185 | $3.2M | Reduce -8.4% |
| CWEN Clearway Energy Inc. Class C | 1.32% | 117,409 | $3.1M | Reduce -7.6% |
| AVGO Broadcom Inc. | 1.28% | 12,781 | $3.0M | Reduce -26.4% |
| AMP Ameriprise Financial Inc. | 1.24% | 5,388 | $2.9M | Reduce -8.2% |
| SNA Snap-on Inc. | 1.14% | 7,764 | $2.6M | Reduce -13.8% |
| CVX Chevron Corp. | 1.13% | 17,940 | $2.6M | Reduce -3.4% |
| BR Broadridge Financial Solutio | 1.10% | 11,256 | $2.5M | Reduce -13.2% |
| PG The Procter & Gamble Co. | 1.10% | 15,133 | $2.5M | Reduce -7.7% |
| ETN Eaton Corp. PLC | 1.10% | 7,636 | $2.5M | Reduce -14.2% |
| XOM Exxon Mobil Corp. | 1.06% | 22,790 | $2.5M | Reduce -1.3% |
| PH Parker Hannifin Corp. | 1.05% | 3,804 | $2.4M | Reduce -1.6% |
| ORCL Oracle Corp. | 1.03% | 14,234 | $2.4M | Reduce -29.1% |
| XIFR XPLR Infrastructure LP filed as NEXTERA ENERGY PARTNERS LP | 1.01% | 131,599 | $2.3M | Add +4.6% |
| ADI Analog Devices Inc. | 1.01% | 10,952 | $2.3M | Reduce -9.3% |
| ACN Accenture PLC Class A | 1.00% | 6,557 | $2.3M | Reduce -19.7% |
| GWW WW Grainger Inc. filed as GRAINGER W W INC | 0.97% | 2,122 | $2.2M | Reduce -20.4% |
| LMT Lockheed Martin Corp. | 0.94% | 4,470 | $2.2M | Reduce -10.0% |
| HON Honeywell International Inc. | 0.94% | 9,614 | $2.2M | Reduce -27.4% |
| ELV Elevance Health Inc. | 0.91% | 5,720 | $2.1M | Add +10.7% |
| CLS Celestica Inc. | 0.65% | 16,215 | $1.5M | No change |
| AAPL Apple Inc. | 0.65% | 5,974 | $1.5M | Add +3.3% |
| RIO Rio Tinto PLC-Spon ADR | 0.49% | 19,288 | $1.1M | Reduce -4.0% |
| BHP BHP Group Ltd.-Spon ADR | 0.48% | 22,515 | $1.1M | Reduce -8.1% |
| META Meta Platforms Inc. Class A | 0.46% | 1,800 | $1.1M | No change |
| GOOGL Alphabet Inc. Class A | 0.41% | 4,990 | $945K | No change |
| LRN Stride Inc. | 0.40% | 8,960 | $931K | Reduce -36.7% |
| PDEC Innovator U.S. Equity Power | 0.29% | 17,661 | $679K | New |
| BLDR Builders Firstsource Inc. | 0.22% | 3,600 | $515K | No change |
| PGR Progressive Corp. | 0.21% | 2,000 | $479K | New |
| BMAR Innovator U.S. Equity Buffer | 0.20% | 9,808 | $453K | No change |
| BAPR Innovator U.S. Equity Buffer | 0.14% | 7,160 | $317K | No change |
| FIP Ftai Infrastructure Inc. | 0.04% | 13,192 | $96K | New |
Portfolio Sells Q3 2024 → Q4 2024
| NRG NRG Energy Inc. | Sold out | 0.00% | −4.34 |
| URI United Rentals Inc. | Sold out | 0.00% | −2.84 |
| CAT Caterpillar Inc. | Sold out | 0.00% | −2.74 |
| KLAC KLA Corp. | Sold out | 0.00% | −2.49 |
| PSA Public Storage | Sold out | 0.00% | −1.66 |
| AMT American Tower Corp. | Sold out | 0.00% | −1.60 |
| CCI Crown Castle Inc. | Sold out | 0.00% | −1.54 |
| NVO Novo-Nordisk A/S-Spons ADR | Sold out | 0.00% | −1.47 |
| ORCL Oracle Corp. | Reduce -29.1% | 1.03% | −0.41 |
| EXR Extra Space Storage Inc. | Reduce -8.4% | 1.37% | −0.38 |
| CWEN Clearway Energy Inc. Class C | Reduce -7.6% | 1.32% | −0.32 |
| MOD Modine Manufacturing Co. | Reduce -0.4% | 2.62% | −0.31 |
| LMT Lockheed Martin Corp. | Reduce -10.0% | 0.94% | −0.28 |
| TNK Teekay Tankers Ltd. Class A | Sold out | 0.00% | −0.27 |
| GLTR Abrdn Precious Metals Basket | Reduce -9.1% | 2.34% | −0.24 |
| ACN Accenture PLC Class A | Reduce -19.7% | 1.00% | −0.22 |
| HON Honeywell International Inc. | Reduce -27.4% | 0.94% | −0.21 |
| GWW WW Grainger Inc. | Reduce -20.4% | 0.97% | −0.20 |
| BHP BHP Group Ltd.-Spon ADR | Reduce -8.1% | 0.48% | −0.16 |
| ADI Analog Devices Inc. | Reduce -9.3% | 1.01% | −0.16 |
| UDR Udr Inc. | Reduce -7.8% | 1.50% | −0.15 |
| ETN Eaton Corp. PLC | Reduce -14.2% | 1.10% | −0.15 |
| MSFT Microsoft Corp. | Reduce -3.7% | 3.72% | −0.12 |
| RIO Rio Tinto PLC-Spon ADR | Reduce -4.0% | 0.49% | −0.11 |
| LRN Stride Inc. | Reduce -36.7% | 0.40% | −0.11 |
| PG The Procter & Gamble Co. | Reduce -7.7% | 1.10% | −0.10 |
| XOM Exxon Mobil Corp. | Reduce -1.3% | 1.06% | −0.08 |
| BR Broadridge Financial Solutio | Reduce -13.2% | 1.10% | −0.07 |
| XLE SS Energy Select Sector | Reduce -2.0% | 2.21% | −0.04 |
| CVX Chevron Corp. | Reduce -3.4% | 1.13% | −0.03 |
| HESM Hess Midstream LP Class A | Reduce -8.1% | 1.57% | −0.01 |
| PH Parker Hannifin Corp. | Reduce -1.6% | 1.05% | +0.02 |
| AVGO Broadcom Inc. | Reduce -26.4% | 1.28% | +0.02 |
| SNA Snap-on Inc. | Reduce -13.8% | 1.14% | +0.04 |
| AMP Ameriprise Financial Inc. | Reduce -8.2% | 1.24% | +0.08 |
| NVDA Nvidia Corp. | Reduce -8.2% | 2.88% | +0.12 |
| CNK Cinemark Holdings Inc. | Reduce -1.1% | 2.92% | +0.34 |
| APP AppLovin Corp. Class A | Reduce -57.0% | 4.06% | +0.36 |
| CHWY Chewy Inc. Class A | Reduce -1.2% | 2.59% | +0.36 |
| FTDR Frontdoor Inc. | Reduce -0.2% | 2.90% | +0.42 |
| LNG Cheniere Energy Inc. | Reduce -0.4% | 2.84% | +0.52 |
| BKNG Booking Holdings Inc. | Reduce -0.9% | 3.16% | +0.53 |
| VSXY Victoria's Secret & Co. | Reduce -27.1% | 3.16% | +0.54 |
Portfolio Buys Q3 2024 → Q4 2024
| TGTX TG Therapeutics Inc. | New | 3.70% | +3.70 |
| FTNT Fortinet Inc. | New | 3.57% | +3.57 |
| NCLH Norwegian Cruise Line Holdin | New | 3.53% | +3.53 |
| BLBD Blue Bird Corp. | New | 3.36% | +3.36 |
| EGP Eastgroup Properties Inc. | New | 1.57% | +1.57 |
| WEC WEC Energy Group Inc. | New | 1.57% | +1.57 |
| ES Eversource Energy | New | 1.54% | +1.54 |
| CTRE Caretrust REIT Inc. | New | 1.47% | +1.47 |
| MCK McKesson Corp. | Add +0.4% | 2.53% | +0.40 |
| GAP The Gap Inc. | Add +2.3% | 2.79% | +0.31 |
| PDEC Innovator U.S. Equity Power | New | 0.29% | +0.29 |
| PGR Progressive Corp. | New | 0.21% | +0.21 |
| AAPL Apple Inc. | Add +3.3% | 0.65% | +0.08 |
| DKL Delek Logistics Partners LP | Add +3.8% | 1.50% | +0.05 |
| FIP Ftai Infrastructure Inc. | New | 0.04% | +0.04 |
| ELV Elevance Health Inc. | Add +10.7% | 0.91% | −0.22 |
| HALO Halozyme Therapeutics Inc. | Add +2.4% | 2.41% | −0.33 |
| XIFR XPLR Infrastructure LP | Add +4.6% | 1.01% | −0.45 |
| THC Tenet Healthcare Corp. | Add +4.4% | 2.17% | −0.49 |
| KBH KB Home | Add +3.4% | 2.23% | −0.50 |
| MTH Meritage Homes Corp. | Add +5.0% | 2.24% | −0.53 |
All Filings
| Quarter | Positions | 13F Reported Value | Top Holdings |
|---|---|---|---|
| Q2 2026 | 39 | $910.0M | CTEF, CTIF, BOXX, CTRE, LXP |
| Q1 2026 | 34 | $722.6M | CTEF, CTIF, BOXX, CWEN, NEE |
| Q4 2025 | 57 | $792.7M | CTEF, CTIF, GOOG, BOXX, MSFT |
| Q3 2025 | 35 | $688.0M | CTEF, CTIF, GLTR, XLE, ES |
| Q2 2025Amended | 31 | $542.8M | CTEF, CTIF, XLE, GLTR, BOXX |
| Q1 2025 | 65 | $357.6M | HALO, MSFT, FTNT, IDCC, TSCO |
| Q4 2024 | 61 | $230.8M | APP, MSFT, TGTX, FTNT, NCLH |
| Q3 2024 | 59 | $237.2M | NRG, MSFT, APP, MOD, URI |
| Q2 2024 | 59 | $210.1M | MSFT, FTAI, MOD, MEDP, KLAC |
| Q1 2024 | 59 | $195.3M | MSFT, MOD, FTAI, URI, MEDP |