CIK: 0001845660
Total reported value
$121.1M
Reporting period: 2026-03-31 · Number of holdings: 31
Candelo Capital Management LP disclosed 31 holdings in its latest 13F filing for the period ending 2026-03-31, with total reported value of $121.1M and a quarterly turnover rate of 84.1%.
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Candelo Capital Management LP's disclosed holdings carry a Herfindahl concentration index of 0.043 — mathematically equivalent to about 23 equally-sized positions, close to its 31 actual disclosed holdings. Value is spread relatively evenly across the portfolio rather than concentrated in a handful of names.
Position sizes are fairly uniform across the portfolio (a coefficient of variation of 0.50), suggesting a disciplined, rules-based approach to how much capital goes into each idea.
No strong tilt toward either adding to existing winners or initiating outsized new positions was observed in the latest reported quarter.
Add SMH
+185.7% $5.1M
Add ATS
+514.1% $3.6M
Add CTRI
+64.5% $3.3M
Trim ATI
-44.6% -$2.2M
Trim GLW
-56.0% -$1.3M
Add WWD
+25.9% $1.8M
Showing top 29 holdings (of 31 total)
| # | Ticker | Issuer | Asset Subclass | Weight | Weight Change | Shares Change | 4Q Trend |
|---|---|---|---|---|---|---|---|
| 1 | SMH | Vaneck Semiconductor ETF | ETF-Other | 6.33% | +4.08% | +185.71% | |
| 2 | KGS | Kodiak Gas Services INC | Stock-Other | 6.14% | +6.14% | NEW | |
| 3 | CTRI | Centuri Holdings INC | Stock-Other | 5.68% | +2.46% | +64.50% | |
| 4 | LIN | Linde plc | Stock-Materials | 5.60% | +5.60% | NEW | |
| 5 | GVA | Granite Construction INC | Stock-Industrials | 5.37% | +0.32% | +10.54% | |
| 6 | TDY | Teledyne Technologies INC | Stock-Tech | 5.22% | -0.80% | -20.83% | |
| 7 | IWM | Ishares Russell 2000 ETF | ETF-Small Cap | 5.12% | +5.12% | NEW | |
| 8 | WWD | Woodward INC | Stock-Industrials | 4.52% | +1.24% | +25.93% | |
| 9 | WMB | Williams Cos INC | Stock-Energy | 4.31% | +4.31% | NEW | |
| 10 | ATI | Ati INC | Stock-Industrials | 4.22% | -2.27% | -44.56% | |
| 11 | MOD | Modine Manufacturing Co | Stock-Consumer Disc | 4.19% | +0.44% | -25.68% | |
| 12 | ADI | Analog Devices INC | Stock-Tech | 4.18% | +0.14% | -4.76% | |
| 13 | AMAT | Applied Materials INC | Stock-Tech | 3.64% | +0.64% | -1.53% | |
| 14 | MRCY | Mercury Systems INC | Stock-Industrials | 3.64% | -0.54% | -5.86% | |
| 15 | SEI | Solaris Energy Infrastructur | Stock-Energy | 3.62% | -0.59% | -24.39% | |
| 16 | ESI | Element Solutions INC | Stock-Materials | 3.58% | -1.08% | -39.18% | |
| 17 | ATS | Ats CORP | Stock-Other | 3.53% | +2.92% | +514.12% | |
| 18 | PWR | Quanta Services INC | Stock-Industrials | 3.24% | +0.55% | — | |
| 19 | TLN | Talen Energy CORP | Stock-Utilities | 3.08% | -1.13% | -7.14% | |
| 20 | TSM | Taiwan Semiconductor-sp Adr | Stock-Tech | 2.99% | -0.97% | -26.64% | |
| 21 | LNG | Cheniere Energy INC | Stock-Energy | 2.44% | +2.44% | NEW | |
| 22 | GLW | Corning INC | Stock-Tech | 2.23% | -1.29% | -56.00% | |
| 23 | MTSI | Macom Technology Solutions H | Stock-Tech | 1.86% | +1.86% | NEW | |
| 24 | CW | Curtiss-wright CORP | Stock-Industrials | 1.41% | -0.10% | -18.84% | |
| 25 | GE | General Electric | Stock-Industrials | 1.17% | +1.17% | NEW | |
| 26 | VRT | Vertiv Holdings Co-a | Stock-Industrials | 1.03% | +1.03% | NEW | |
| 27 | HWM | Howmet Aerospace INC | Stock-Industrials | 0.76% | +0.76% | NEW | |
| 28 | 6D8 | Dupont De Nemours INC | Stock-Other | 0.57% | +0.57% | NEW | |
| 29 | XLI | Ss Industrial Select Sector | ETF-Other | 0.33% | +0.33% | NEW |
Performance for Q3 2026
+0.4%
Performance Last 4 Quarters
+47.8%
Based on 59% of reported portfolio value with available pricing
| Period | Holdings | Total value | Stability | Top holdings |
|---|---|---|---|---|
| 2026-03-31 | 31 | $121.1M | 84 | |
| 2025-12-31 | 27 | $112.1M | 100 | |
| 2025-09-30 | 29 | $116.0M | 100 | |
| 2025-06-30 | 26 | $110.4M | 0 | |
| 2025-03-31 | 26 | $116.1M | 0 | |
| 2024-12-31 | 41 | $198.0M | 0 | |
| 2024-09-30 | 35 | $179.0M | 0 | |
| 2024-06-30 | 27 | $148.6M | 0 | |
| 2024-03-31 | 29 | $163.2M | 0 | |
| 2023-12-31 | 29 | $127.6M | 0 |
Candelo Capital Management LP's most significant position changes for 2026-03-31: New buy: Kodiak Gas Services INC (KGS); New buy: Linde plc (LIN); New buy: Ishares Russell 2000 ETF (IWM); Sold out: Union Pacific CORP (UNP); Sold out: Mks INC (MKSI).
| # | Ticker | Issuer | Weight Change | Shares Change | Action |
|---|---|---|---|---|---|
| 1 | SMH | Vaneck Semiconductor ETF | +4.1% | +185.71% | Add |
| 2 | ATS | Ats CORP | +2.9% | +514.12% | Add |
| 3 | CTRI | Centuri Holdings INC | +2.5% | +64.50% | Add |
| 4 | WWD | Woodward INC | +1.2% | +25.93% | Add |
| 5 | AMAT | Applied Materials INC | +0.6% | -1.53% | Trim |
| 6 | PWR | Quanta Services INC | +0.6% | — | Unchanged |
| 7 | MOD | Modine Manufacturing Co | +0.4% | -25.68% | Trim |
| 8 | GVA | Granite Construction INC | +0.3% | +10.54% | Add |
| 9 | ADI | Analog Devices INC | +0.1% | -4.76% | Trim |
| 10 | CW | Curtiss-wright CORP | -0.1% | -18.84% | Trim |
| 11 | MRCY | Mercury Systems INC | -0.5% | -5.86% | Trim |
| 12 | SEI | Solaris Energy Infrastructur | -0.6% | -24.39% | Trim |
| 13 | TDY | Teledyne Technologies INC | -0.8% | -20.83% | Trim |
| 14 | TSM | Taiwan Semiconductor-sp Adr | -1% | -26.64% | Trim |
| 15 | ESI | Element Solutions INC | -1.1% | -39.18% | Trim |
| 16 | TLN | Talen Energy CORP | -1.1% | -7.14% | Trim |
| 17 | GLW | Corning INC | -1.3% | -56.00% | Trim |
| 18 | ATI | Ati INC | -2.3% | -44.56% | Trim |
| 19 | KGS | Kodiak Gas Services INC | — | NEW | New buy |
| 20 | LIN | Linde plc | — | NEW | New buy |
| 21 | IWM | Ishares Russell 2000 ETF | — | NEW | New buy |
| 22 | UNP | Union Pacific CORP | — | EXIT | Sold out |
| 23 | MKSI | Mks INC | — | EXIT | Sold out |
| 24 | WMB | Williams Cos INC | — | NEW | New buy |
| 25 | DHR | Danaher CORP | — | EXIT | Sold out |
| 26 | ATRO | Astronics CORP | — | EXIT | Sold out |
| 27 | BDC | Belden INC | — | EXIT | Sold out |
| 28 | SHC | Sotera Health Co | — | EXIT | Sold out |
| 29 | CHRW | C.h. Robinson Worldwide INC | — | EXIT | Sold out |
| 30 | LNG | Cheniere Energy INC | — | NEW | New buy |
| 31 | ECHO | Echostar Corp-a | — | EXIT | Sold out |
| 32 | KNX | Knight-swift Transportation | — | EXIT | Sold out |
| 33 | MTSI | Macom Technology Solutions H | — | NEW | New buy |
| 34 | GE | General Electric | — | NEW | New buy |
| 35 | VRT | Vertiv Holdings Co-a | — | NEW | New buy |
| 36 | HWM | Howmet Aerospace INC | — | NEW | New buy |
| 37 | 6D8 | Dupont De Nemours INC | — | NEW | New buy |
| 38 | XLI | Ss Industrial Select Sector | — | NEW | New buy |
| Period | Filed | Type | EDGAR |
|---|---|---|---|
| 2026-03-31 | 2026-05-15 | 13F-HR | View on EDGAR |
| 2025-12-31 | 2026-02-17 | 13F-HR | View on EDGAR |
| 2025-09-30 | 2025-11-14 | 13F-HR | View on EDGAR |
| 2025-06-30 | 2025-08-14 | 13F-HR | View on EDGAR |
| 2025-03-31 | 2025-05-15 | 13F-HR | View on EDGAR |
| 2024-12-31 | 2025-02-14 | 13F-HR | View on EDGAR |
| 2024-09-30 | 2024-11-14 | 13F-HR | View on EDGAR |
| 2024-06-30 | 2024-08-14 | 13F-HR | View on EDGAR |
| 2024-03-31 | 2024-05-15 | 13F-HR | View on EDGAR |
| 2023-12-31 | 2024-02-14 | 13F-HR | View on EDGAR |
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