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Asset Manager ← All Institutions

CARRONADE CAPITAL MANAGEMENT, LP

Q2 2025 · Filed 2025-08-19
Market Value
$631M
+33.3%
Holdings
23
-5
New Purchases
0
Added To
11
Closed
5
Reduced
7
Top 10 Concentration
89.6%
Turnover
21.7%

Top Buys (by % of Portfolio)

SymbolCur %Prior %Chg %Value
TLN 25.01% 1.44% +23.57% $158M
TDS 19.13% 0.83% +18.30% $121M
BKD 7.61% 0.74% +6.87% $48M
EXEEL 7.81% 1.34% +6.47% $49M
CTRI 4.81% 2.34% +2.47% $30M
COMM 1.94% 1.22% +0.72% $12M

Top Sells (by % of Portfolio)

SymbolCur %Prior %Chg %Value
GEO 8.47% 31.03% -22.56% $53M
GBTG 2.61% 10.38% -7.77% $16M
FYBR 0.00% 7.21% -7.21% $0
CPT 1.71% 5.22% -3.51% $11M
CZR 1.12% 4.45% -3.33% $7M
ITB 0.00% 2.32% -2.32% $0
SATS 0.00% 2.20% -2.20% $0
MAA 1.01% 3.13% -2.12% $6M
ATUS 1.37% 3.17% -1.79% $9M
VSAT 0.00% 1.53% -1.53% $0
CNNE 10.54% 11.67% -1.14% $66M
LUMN 0.00% 0.79% -0.79% $0
UDR 1.67% 2.31% -0.64% $11M
EQR 1.63% 2.18% -0.55% $10M
AVB 1.65% 2.18% -0.54% $10M

Sector Allocation Over Time

Market Cap Concentration

TierHoldingsValueWeight
Large Cap 10 $262M 41.5%
Mid Cap 11 $294M 46.6%
Small Cap 2 $75M 11.9%

Portfolio Analytics

Avg Market Cap
$10.7B
Median Market Cap
$9.6B
Avg P/E
34.0
Median P/E
29.0
Avg Dividend Yield
0.06%
Avg Beta
1.16
# Stocks
22
# ETFs / Funds
1

Top Holdings (23 total)

# Symbol % Port Shares Value Avg Price Q/Q Value Chg Share Chg Chg % Status
1 TLN 25.01% 542,743 $158M $290.77 $151M +501,967 +1231.0%
2 TDS 19.13% 3,392,500 $121M $35.58 $117M +2,392,500 +239.2%
3 CNNE 10.54% 3,189,027 $66M $20.85 $11M +173,380 +5.8%
4 GEO 8.47% 2,232,854 $53M $23.95 -$93M -1,634,332 -42.3%
5 EXEEL 7.81% 456,802 $49M $107.86 $43M +436,078 +2104.2%
6 BKD 7.61% 6,902,737 $48M $6.96 $45M +6,215,477 +904.4%
7 CTRI 4.81% 1,353,425 $30M $22.44 $19M +1,262,867 +1394.5%
8 GBTG 2.61% 2,611,864 $16M $6.30 -$33M +929,760 +55.3%
9 COMM 1.94% 1,479,923 $12M $8.28 $6M +389,872 +35.8%
10 CPT 1.71% 95,936 $11M $112.69 -$14M -3,853,075 -97.6%
11 UDR 1.67% 258,116 $11M $40.83 -$396K -169,384 -39.6%
12 AVB 1.65% 51,047 $10M $203.50 $47K +2,862 +5.9%
13 EQR 1.63% 152,549 $10M $67.49 -$12K +8,548 +5.9%
14 ATUS 1.37% 4,053,609 $9M $2.14 -$6M -1,585,250 -28.1%
15 CZR 1.12% 248,173 $7M $28.39 -$14M -1,037,551 -80.7%
16 MAA 1.01% 43,184 $6M $148.02 -$8M -12,256,816 -99.7%
17 ESS 0.99% 21,947 $6M $283.41 $1M -2,102,757 -99.0%
18 DHC 0.92% 1,618,448 $6M $3.58 -$81K +1,383,448 +588.7%
19 LUMN —% -$4M -952,956 -100.0% SOLD
20 SATS —% -$10M -407,373 -100.0% SOLD
21 ITB —% -$11M -243,655 -100.0% SOLD
22 VSAT —% -$7M -454,398 -100.0% SOLD
23 FYBR —% -$34M -952,315 -100.0% SOLD

Options Breakdown

4 Calls $33M Call Value 2 Puts $647M Put Value 19.36 P/C Ratio

Top Calls

SymbolSharesValueStatus
GEO 1,000,000 $24M NEW
VSAT 650,000 $9M
SPY $0 SOLD
ITB $0 SOLD

Top Puts

SymbolSharesValueStatus
ITB 3,000,000 $647M NEW
KSS $0 SOLD

Sold Out Positions

SymbolValue% Port
LUMN —%
ITB —%
SATS —%
VSAT —%
FYBR —%
View SEC EDGAR Filings for CARRONADE CAPITAL MANAGEMENT, LP →

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For informational purposes only. Not investment advice. Data sourced from SEC filings. Privacy Terms