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Asset Manager ← All Institutions

CARRONADE CAPITAL MANAGEMENT, LP

Q3 2025 · Filed 2025-11-14
Market Value
$875M
+38.7%
Holdings
20
-3
New Purchases
2
Added To
6
Closed
0
Reduced
3
Top 10 Concentration
88.4%
Turnover
10.0%

Top Buys (by % of Portfolio)

SymbolCur %Prior %Chg %Value
VSAT 8.61% 0.00% +8.61% $75M
SATS 5.45% 0.00% +5.45% $48M
CTRI 7.39% 4.81% +2.57% $65M
TLN 27.26% 25.01% +2.25% $239M
DHC 2.30% 0.92% +1.38% $20M
COMM 2.33% 1.94% +0.39% $20M
ATUS 1.59% 1.37% +0.21% $14M

Top Sells (by % of Portfolio)

SymbolCur %Prior %Chg %Value
GEO 1.76% 8.47% -6.72% $15M
CNNE 6.67% 10.54% -3.86% $58M
EXEEL 5.01% 7.81% -2.80% $44M
TDS 16.50% 19.13% -2.62% $144M
GBTG 1.57% 2.61% -1.03% $14M
BKD 6.90% 7.61% -0.71% $60M
UDR 1.10% 1.67% -0.57% $10M
CPT 1.17% 1.71% -0.54% $10M
AVB 1.13% 1.65% -0.52% $10M
EQR 1.13% 1.63% -0.50% $10M
CZR 0.77% 1.12% -0.35% $7M
MAA 0.69% 1.01% -0.32% $6M
ESS 0.67% 0.99% -0.31% $6M

Sector Allocation Over Time

Market Cap Concentration

TierHoldingsValueWeight
Large Cap 10 $457M 52.2%
Mid Cap 8 $346M 39.5%
Small Cap 2 $72M 8.3%

Portfolio Analytics

Avg Market Cap
$11.3B
Median Market Cap
$8.0B
Avg P/E
34.0
Median P/E
29.0
Avg Dividend Yield
0.07%
Avg Beta
1.12
# Stocks
20
# ETFs / Funds
0

Top Holdings (20 total)

# Symbol % Port Shares Value Avg Price Q/Q Value Chg Share Chg Chg % Status
1 TLN 27.26% 560,743 $239M $425.38 $81M +18,000 +3.3%
2 TDS 16.50% 3,680,500 $144M $39.24 $24M +288,000 +8.5%
3 VSAT 8.61% 2,572,692 $75M $29.30 +2,572,692 NEW
4 CTRI 7.39% 3,052,817 $65M $21.17 $34M +1,699,392 +125.6%
5 BKD 6.90% 7,127,737 $60M $8.47 $12M +225,000 +3.3%
6 CNNE 6.67% 3,189,027 $58M $18.31 -$8M
7 SATS 5.45% 625,000 $48M $76.36 +625,000 NEW
8 EXEEL 5.01% 456,802 $44M $95.99 -$5M
9 COMM 2.33% 1,316,023 $20M $15.48 $8M -163,900 -11.1%
10 DHC 2.30% 4,561,748 $20M $4.41 $14M +2,943,300 +181.9%
11 GEO 1.76% 750,000 $15M $20.49 -$38M -1,482,854 -66.4%
12 ATUS 1.59% 5,768,682 $14M $2.41 $5M +1,715,073 +42.3%
13 GBTG 1.57% 1,705,039 $14M $8.08 -$3M -906,825 -34.7%
14 CPT 1.17% 95,936 $10M $106.78 -$567K
15 EQR 1.13% 152,549 $10M $64.73 -$422K
16 AVB 1.13% 51,047 $10M $193.17 -$527K
17 UDR 1.10% 258,116 $10M $37.26 -$922K
18 CZR 0.77% 248,173 $7M $27.03 -$339K
19 MAA 0.69% 43,184 $6M $139.73 -$358K
20 ESS 0.67% 21,947 $6M $267.64 -$346K

Options Breakdown

4 Calls $157M Call Value 4 Puts $3.2B Put Value 20.11 P/C Ratio

Top Calls

SymbolSharesValueStatus
VSAT 2,685,000 $79M
GEO 1,750,000 $36M
SATS 300,000 $23M NEW
JEF 300,000 $20M NEW

Top Puts

SymbolSharesValueStatus
SPY 4,700,000 $3.1B NEW
JEF 250,000 $16M NEW
KSS 750,000 $12M NEW
ITB $0 SOLD

New Positions

SymbolValue% Port
VSAT $75M 8.61%
SATS $48M 5.45%
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