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Carronade Capital Management, LP
Dan Gropper · Hedge Fund · Multi-Strategy
Carronade Capital Management, LP is a multi-strategy credit-focused hedge fund based in Darien, Connecticut. Founded in 2019 by industry veteran Dan Gropper, the firm specializes in process-driven investments within catalyst-rich situations, including special situations, restructurings, and distressed credit. Carronade manages portfolios for institutional investors, family offices, and high-net-worth individuals, employing a team of professionals who conduct in-depth fundamental and legal research to identify undervalued debt instruments. The firm is known for its proactive and disciplined approach to capital structure analysis and event-driven opportunities across both public and private markets, aiming to deliver superior risk-adjusted returns through a focus on long-term capital appreciation and transparency.
Simulated Performance
| Metric | Value |
|---|---|
| Total return | +8.4% |
| YTD return | +2.6% |
| Sharpe ratio | 3.95 |
| Win rate | 53% |
| AUM | $1.3B |
| Inception | Oct 1, 2025 |
| Updated | Sep 11, 2026 |
Institution Status
| Field | Value |
|---|---|
| AUM | $1.3B |
| Turnover | Low (<15%) |
| Avg holding | 18 Months |
| Inception | Oct 1, 2025 |
| Website | https://carronade.com |
Current Holdings
Updated on Sep 11, 2026.
| Ticker | Name | Portfolio % | Return |
|---|---|---|---|
| TLN | Talen Energy Corporation | 18.7% | -24.0% |
| VSAT | ViaSat Inc | 16.1% | +84.4% |
| TDS | Telephone and Data Systems Inc | 13.9% | -6.2% |
| BKD | Brookdale Senior Living Inc | 9.3% | +34.9% |
| CTRI | Centuri Holdings, Inc. | 8.5% | -16.1% |
| ACHC | Acadia Healthcare Company Inc | 6.8% | +19.0% |
| VISN | CommScope Holding Company, Inc. | 5.4% | -42.7% |
| ECHO | ECHO | 4.7% | -6.7% |
| CNNE | Cannae Holdings Inc | 4.2% | -10.5% |
| DHC | Diversified Healthcare Trust | 3.7% | +67.1% |
| UHS | Universal Health Services Inc | 2.7% | +2.1% |
| CMCSA | Comcast Corp | 2.1% | -6.0% |
| SPHR | Sphere Entertainment Co. | 1.8% | +6.3% |
| CORZ | Core Scientific, Inc. Common Stock | 1.3% | +9.8% |
| WW | WW International, Inc. Common Stock | 0.6% | -40.8% |
| CYH | Community Health Systems Inc | 0.4% | +2.7% |
Recent activity
| Date | Action | Ticker | Weight |
|---|---|---|---|
| Aug 31, 2026 | BUY | SPHR | 0.6% → 1.8% |
| Aug 31, 2026 | SELL | TDS | 12.6% → 13.9% |
| Aug 31, 2026 | BUY | ACHC | 5.6% → 6.8% |
| Aug 31, 2026 | SELL | WW | 0.6% → 0.6% |
| Aug 31, 2026 | BUY | TLN | 17.7% → 18.7% |
Investment Style Analysis
Carronade Capital Management, LP is widely recognized for employing a Multi-Strategy strategy. As of Sep 11, 2026, the firm oversees approximately $1.3B in assets under management (AUM). The portfolio demonstrates a clear preference for the Communication Equipment and Medical Care Facilities sectors, reflecting a high-conviction approach to capital allocation.
Recent Market Moves
During the latest rebalancing period ending Aug 31, Carronade Capital Management, LP made a significant move by increasing exposure to SPHR. This adjustment aligns with the fund's dynamic approach to risk management and capital deployment in current market conditions.
Investment Philosophy
Carronade Capital Management employs a catalyst-driven investment philosophy focused on the credit and special situations markets. The firm’s strategy centers on identifying complex credit opportunities, such as restructurings and capital structure arbitrage, where fundamental research and legal analysis can uncover significant value. By focusing on process-driven investments in catalyst-rich environments, the firm seeks to exploit market inefficiencies and participate actively in restructuring processes. This disciplined approach emphasizes risk-adjusted returns and aims to achieve consistent long-term appreciation by targeting undervalued debt instruments across various asset classes and industries.
Disclaimer
The content provided on this page, including the simulated portfolio performance, holdings analysis, and AI-generated insights, is for informational and educational purposes only. It does not constitute financial advice, investment recommendations, or an offer to buy or sell any securities. All data is derived from historical SEC 13F filings and other public disclosures, which have a reporting lag. The "Simulated Performance" is a hypothetical reconstruction based on past disclosures and does not represent the actual returns of the institution. Past performance is not indicative of future results. Tritonix.ai is not affiliated with Carronade Capital Management, LP.
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Frequently asked questions
How is the simulated portfolio for Carronade Capital Management, LP constructed?
This simulation is powered by Tritonix AI using official SEC filings. We focus on the "Best Ideas" by filtering for only the Top 20 largest holdings and rebalancing them to 100%. The simulation tracks performance starting from Oct 1, 2025. Our AI monitors for updates every Monday to capture major shifts. This concentrated approach highlights the manager's true stock-picking skill and mirrors their actual investment returns.
What is Carronade Capital Management, LP's largest holding?
As of the latest filing, Carronade Capital Management, LP's top position is Talen Energy Corporation (TLN), representing 18.7% of the portfolio. This reflects a high-conviction bet by the institution.
What is Carronade Capital Management, LP's historical performance and risk profile?
Our simulation indicates a total return of +8.4% with a win rate of 53%. Notably, the portfolio maintains a Sharpe Ratio of 3.95, suggesting an exceptional level of risk-adjusted returns compared to the broader market.
What sectors does Carronade Capital Management, LP primarily invest in?
Carronade Capital Management, LP has a strong preference for the Communication Equipment sector, which makes up 21.5% of their disclosed assets. The portfolio also has exposure to Medical Care Facilities, indicating a specific thematic focus.
Is Carronade Capital Management, LP's portfolio concentrated or diversified?
Carronade Capital Management, LP runs a highly concentrated portfolio with 16 disclosed positions. The top 3 holdings alone account for 48.7% of the total portfolio weight, suggesting a strategy that favors deep research into a few key names.
How has Carronade Capital Management, LP performed in 2026?
Our AI-simulated model portfolio for Carronade Capital Management, LP tracks a Year-to-Date (YTD) return of +2.6%. This metric helps investors gauge the institution's effectiveness in the current market environment.
Does Dan Gropper manage Carronade Capital Management, LP directly?
Yes, Dan Gropper serves as the key portfolio manager for Carronade Capital Management, LP, overseeing the investment strategy and final capital allocation decisions.