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CCM

Carronade Capital Management Portfolio holdings

AUM $5.77B
1-Year Est. Return 89.67%
This Fund
S&P 500
This Quarter Est. Return
-0.46%
1 Year Est. Return
+89.67%
3 Year Est. Return
+214.78%
5 Year Est. Return
–
10 Year Est. Return
–
AUM
$872M
AUM Growth
+$192M
Cap. Flow
-$44.7M
Cap. Flow %
-5.13%
Top 10 Hldgs %
89.52%
Holding
34
New
7
Increased
4
Reduced
6
Closed
12

Top Buys

Rank Stock Value
1
BKLN icon
Invesco Senior Loan ETF
BKLN
+$60.4M
2
OGN icon
Organon & Co
OGN
+$6.9M
3
ECHO
EchoStar
ECHO
+$6.44M
4
VAL icon
Valaris
VAL
+$5.14M
5
HE icon
Hawaiian Electric Industries
HE
+$1.95M

Top Sells

Rank Stock Value
1
SPHR icon
Sphere Entertainment
SPHR
+$11.2M
2
HTZ icon
Hertz
HTZ
+$7.56M
3
EXTO
Almacenes Exito S.A
EXTO
+$6.85M
4
BHC icon
Bausch Health
BHC
+$5.83M
5
SWX icon
Southwest Gas
SWX
+$5.21M

Sector Composition

Rank Sector Weight
1 Miscellaneous 89.62%
2 Utilities 4.32%
3 Consumer Discretionary 2.22%
4 Financials 1.26%
5 Communication Services 0.95%
Name Market Value Portfolio Weight Shares or Principal Change
in Stake 		Capital Flow
SPY icon
1
PUT
State Street SPDR S&P 500 ETF Trust
SPY
$796B
$547M 62.67%
+1,150,000
New +$512M
BKLN icon
2
Invesco Senior Loan ETF
BKLN
$6.67B
$61M 6.99%
+2,879,608
New +$60.4M
SWX icon
3
Southwest Gas
SWX
$5.97B
$31.6M 3.62%
498,685
-86,709
-15% -$5.21M
EXEEL
4
DELISTED
Expand Energy Corp Class C Warrants
EXEEL
$27.3M 3.13%
457,002
+200
+0% +$13.3K
AAL icon
5
CALL
American Airlines Group
AAL
$9.18B
$20.6M 2.36%
+1,500,000
New +$18.8M
GBTG icon
6
American Express Global Business Travel
GBTG
$4.96B
$19.4M 2.22%
3,000,000
-473,562
-14% -$2.7M
MPT
7
PUT
Medical Properties Trust
MPT
$2.13B
$12.3M 1.41%
2,500,000
-4,500,000
-64% -$22M
ONYX
8
DELISTED
Onyx Acquisition Co. I Class A Ordinary Shares
ONYX
$11M 1.26%
994,082
– –
VAL.WS icon
9
Valaris Ltd Warrants
VAL.WS
$648M
$9.66M 1.11%
788,688
-150,000
-16% -$1.79M
VSAT icon
10
PUT
Viasat
VSAT
$10.1B
$9.08M 1.04%
+325,000
New +$6.79M
ECHO
11
EchoStar
ECHO
$26.2B
$8.29M 0.95%
+500,000
New +$6.44M
DISH
12
PUT
DELISTED
DISH Network Corp.
DISH
$8.22M 0.94%
+1,425,000
New +$6.4M
OGN icon
13
Organon & Co
OGN
$3.61B
$7.32M 0.84%
+507,343
New +$6.9M
BHC icon
14
CALL
Bausch Health
BHC
$2.13B
$7.22M 0.83%
900,000
+200,000
+29% +$1.46M
PSEC icon
15
PUT
Prospect Capital
PSEC
$1.17B
$7.19M 0.82%
1,200,000
-321,900
-21% -$1.85M
VAL icon
16
Valaris
VAL
$5.62B
$6.86M 0.79%
100,000
+75,000
+300% +$5.14M
HE icon
17
Hawaiian Electric Industries
HE
$1.57B
$6.11M 0.7%
430,800
+150,000
+53% +$1.95M
HE icon
18
PUT
Hawaiian Electric Industries
HE
$1.57B
$6.11M 0.7%
430,800
– –
HTZWW
19
Hertz Global Holdings Warrants
HTZWW
$74.7M
$5.48M 0.63%
1,000,000
-544,589
-35% -$2.75M
AAL icon
20
PUT
American Airlines Group
AAL
$9.18B
– –
-1,800,000
Closed -$23.1M
BHC icon
21
Bausch Health
BHC
$2.13B
– –
-800,000
Closed -$5.83M
CCO icon
22
Clear Channel Outdoor Holdings
CCO
$1.2B
– –
-1,000,000
Closed -$1.58M
CVNA icon
23
PUT
Carvana
CVNA
$46.8B
– –
-2,500,000
Closed -$21M
HTZ icon
24
Hertz
HTZ
$620M
– –
-617,029
Closed -$7.56M
HTZ icon
25
PUT
Hertz
HTZ
$620M
– –
-839,200
Closed -$10.3M
1
2

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DWA
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NCM
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SAG
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Carronade Capital Management's Q4 2023 Portfolio in Review

As of Q4 2023, Carronade Capital Management held 34 positions worth $872M, up 28% from $680M the previous quarter. Its ten largest holdings account for 90% of the portfolio.

Carronade Capital Management withdrew a net $44.7M in Q4 2023, closing 12 positions and reducing 6 holdings. Its most notable exit was Sphere Entertainment, an estimated $11.2M position sold in full.

By sector, the portfolio is most concentrated in Miscellaneous at 90% of assets, up from 85% a quarter earlier, followed by Utilities and Consumer Discretionary.

Against the trend, Carronade Capital Management opened a new position in Invesco Senior Loan ETF worth $61M.

  • Carronade Capital Management's largest Q4 2023 buy was Invesco Senior Loan ETF: 2,879,608 shares worth $61M.
  • Carronade Capital Management added most to Valaris in Q4 2023, an estimated $5.14M increase.
  • Carronade Capital Management's biggest Q4 2023 reduction was Southwest Gas, cutting an estimated $5.21M.
  • Carronade Capital Management fully exited Sphere Entertainment in Q4 2023, selling an estimated $11.2M.
  • Carronade Capital Management's ten largest holdings make up 90% of its $872M portfolio in Q4 2023.
  • Carronade Capital Management opened 7 new positions and closed 12 in Q4 2023.
  • Carronade Capital Management's portfolio value rose 28% quarter-over-quarter to $872M.

Based on Carronade Capital Management's 13F filing for Q4 2023, filed 14 Feb 2024.