Callodine Capital Management has completely exited its investment in Algonquin Power & Utilities (NYSE:AQN), selling 5,749,636 shares in the first quarter.
The transaction, valued at roughly $37.28 million based on average quarterly pricing, was disclosed in an SEC filing dated May 15, 2026.
Key Transaction Details
- May 20, 2026 - 15:37
- The total transaction value reached an estimated $37.28 million, based on average quarterly pricing. This comprehensive divestment was officially disclosed in a Securities and Exchange Commission (SEC) filing dated May 1.
- The complete liquidation brought Callodine's holding in Algonquin Power & Utilities down to 0% of its 13F assets under management. Due to this transaction and concurrent share price movements, the total value of the position dropped by $35.36 million for the period.
- As of market close on May 18, 2026, shares of Algonquin Power & Utilities were priced at $5.77. The stock recorded a 5.33% return over the past year, underperforming the S&P?500 index by 24.94 percentage points.
- $2.51?billion $159.70?million
- 4.56% $5.77
Following the sale, Callodine redirected its portfolio toward other large holdings, including SPB (NYSE) valued at $150,995,307 and VTRS (NASDAQ) at $109,684,204.
The firm also retains sizable positions in WWW, GSK and BTI, which together account for the bulk of its remaining equity exposure.
Algonquin Power & Utilities now operates as a regulated utility network serving about 1.3 million customers across North America and Chile, after divesting its renewable?energy assets in 2025.
The 2025 divestiture allowed Algonquin to pay down debt and focus on rate?regulated services with predictable returns, a shift that likely conflicted with Callodine’s high?yield specialty?income mandate.
Analysts note that the utility’s modest 5.33% annual return and its lag behind the broader market may have further motivated the fund’s decision to liquidate.
