Candelo Capital Management LP

Portfolio Overview

Candelo Capital Management LP disclosed 31 positions worth $121.1M in its Form 13F-HR for Q1 2026 — $99.4M in common stock plus $21.7M of put/call option positions (reported at underlying notional value, not premium at risk), followed by $KGS and $CTRI. During the quarter the fund opened 13 new positions and exited 9 — including a new stake in $KGS and a full exit from $UNP. The portfolio is most concentrated in Technology (29.6% of disclosed assets). All figures are sourced directly from Candelo Capital Management LP’s Form 13F-HR filing with the SEC under CIK 1845660.

• VANECK ETF TRUST PUT

  —

  Quality

  $7.7M20,000 sh
• 

  Kodiak Gas Services, Inc.

  $KGS

  57.3#1,052

  Quality

  $7.4M127,571 sh
• 

  Centuri Holdings, Inc.

  $CTRI

  42.7#1,836

  Quality

  $6.9M235,453 sh
• 

  LINDE PLC

  $LIN

  —

  Quality

  $6.8M13,690 sh
• 

  GRANITE CONSTRUCTION INC

  $GVA

  56.9

  Quality

  $6.5M54,261 sh
• 

  TELEDYNE TECHNOLOGIES INC

  $TDY

  70.2

  Quality

  $6.3M10,452 sh

• ISHARES TR PUT

  —

  Quality

  $6.2M25,000 sh
• 

  WILLIAMS COMPANIES, INC.

  $WMB

  72.8

  Quality

  $5.2M71,661 sh
• 

  MODINE MANUFACTURING CO

  $MOD

  48.8

  Quality

  $5.1M23,419 sh
• 

  ANALOG DEVICES INC

  $ADI

  76.2

  Quality

  $5.1M15,905 sh

Company	Quality	Value	Shares
VANECK ETF TRUST PUT	—	$7.7M	20,000
Kodiak Gas Services, Inc.$KGS	57.3#1,052	$7.4M	127,571
Centuri Holdings, Inc.$CTRI	42.7#1,836	$6.9M	235,453
LINDE PLC$LIN	—	$6.8M	13,690
GRANITE CONSTRUCTION INC$GVA	56.9	$6.5M	54,261
TELEDYNE TECHNOLOGIES INC$TDY	70.2	$6.3M	10,452
ISHARES TR PUT	—	$6.2M	25,000
WILLIAMS COMPANIES, INC.$WMB	72.8	$5.2M	71,661
MODINE MANUFACTURING CO$MOD	48.8	$5.1M	23,419
ANALOG DEVICES INC$ADI	76.2	$5.1M	15,905

Showing top 10 of 31 holdings.

Full Holdings — Candelo Capital Management LP (Q1 2026)

All 31 disclosed positions from the latest Form 13F-HR, with quarter-over-quarter share changes and 13F Pro quality scores. Sourced from SEC EDGAR.

#	Ticker	Company	Value	Weight	QoQ	Quality
1	—	VANECK ETF TRUST	$7.7M	—	+186%	—
2	$KGS	Kodiak Gas Services, Inc.	$7.4M	7.5%	NEW	57.3
3	$CTRI	Centuri Holdings, Inc.	$6.9M	6.9%	+64%	42.7
4	$LIN	LINDE PLC	$6.8M	6.8%	NEW	—
5	$GVA	GRANITE CONSTRUCTION INC	$6.5M	6.5%	+11%	56.9
6	$TDY	TELEDYNE TECHNOLOGIES INC	$6.3M	6.4%	-21%	70.2
7	—	ISHARES TR	$6.2M	—	NEW	—
8	$WMB	WILLIAMS COMPANIES, INC.	$5.2M	5.3%	NEW	72.8
9	$MOD	MODINE MANUFACTURING CO	$5.1M	5.1%	-26%	48.8
10	$ADI	ANALOG DEVICES INC	$5.1M	5.1%	-5%	76.2
11	$AMAT	APPLIED MATERIALS INC /DE	$4.4M	4.4%	-2%	74.8
12	$MRCY	MERCURY SYSTEMS INC	$4.4M	4.4%	-6%	42.9
13	$SEI	Solaris Energy Infrastructure, Inc.	$4.4M	4.4%	-24%	56.9
14	$ESI	Element Solutions Inc	$4.3M	4.4%	-39%	63.1
15	$ATS	ATS Corp /ATS	$4.3M	4.3%	+514%	—
16	$ATI	ATI INC	$4.1M	4.1%	-56%	64.5
17	$PWR	QUANTA SERVICES, INC.	$3.9M	3.9%	+0%	62.6
18	$TLN	Talen Energy Corp	$3.7M	3.8%	-7%	66.5
19	$TSM	TAIWAN SEMICONDUCTOR MANUFACTURING CO LTD	$3.6M	3.6%	-27%	—
20	$WWD	Woodward, Inc.	$3.3M	3.4%	-23%	70.2
21	$LNG	Cheniere Energy, Inc.	$3.0M	3.0%	NEW	48.4
22	$GLW	CORNING INC /NY	$2.7M	2.7%	-56%	72.7
23	$MTSI	MACOM Technology Solutions Holdings, Inc.	$2.2M	2.3%	NEW	70.6
24	$WWDPUT	Woodward, Inc.	$2.1M	—	NEW	70.2
25	$CW	CURTISS WRIGHT CORP	$1.7M	1.7%	-19%	70.7
26	$GEPUT	GENERAL ELECTRIC CO	$1.4M	—	NEW	74.8
27	$VRTPUT	Vertiv Holdings Co	$1.3M	—	NEW	82.7
28	$ATIPUT	ATI INC	$1.0M	—	NEW	64.5
29	$HWMPUT	Howmet Aerospace Inc.	$921,840	—	NEW	79.1
30	$DDPUT	DuPont de Nemours, Inc.	$687,000	—	NEW	31.1
31	—	SELECT SECTOR SPDR TR	$404,325	—	NEW	—