[SCHEDULE 13G] Spectrum Brands Holdings, Inc. SEC Filing

Rhea-AI Filing Summary

Callodine Capital Management, LP and James S. Morrow disclosed ownership of 1,354,057 shares of Spectrum Brands Holdings, Inc. (ticker SPB), representing 5.42% of the companys outstanding common stock. The filing states the shares are held for the benefit of Callodines investment advisory clients and that Mr. Morrow is the managing member of the general partner. The reporting persons assert shared voting and dispositive power over the 1,354,057 shares and disclaim sole beneficial ownership except for any pecuniary interest.

The percentage calculation is based on 25,003,906 shares outstanding as reported by the issuer for the period ended March 30, 2025. The filing includes a certification that the securities were acquired and are held in the ordinary course of business and not for the purpose of influencing control of the issuer.

Positive

• Material disclosure: Reporting of a 5.42% stake by an SEC-registered investment adviser satisfies regulatory transparency requirements
• Clear classification: Filing on Schedule 13G indicates the position is claimed to be passive and held in the ordinary course of business
• Complete identifying details: Reporting persons, addresses, citizenship, and share counts are provided along with the share basis (25,003,906 outstanding)

Negative

• None.

Insights

Securities Analyst

Disclosure shows an active 5.42% stake by an investment adviser and its principal, a material non-control holding.

Callodines Schedule 13G reports a 5.42% position, crossing the typical 5% SEC reporting threshold that requires public disclosure. The position is reported under the Schedule 13G framework (not 13D), indicating the filer represents the stake is passive and held in the ordinary course of business. Shared voting and dispositive power are reported for 1,354,057 shares, with no sole voting or sole dispositive power. The filing cites the issuers outstanding share count (25,003,906) used to compute the percentage, which is appropriate and transparent. For investors, the filing documents a meaningful but non-controlling ownership level by an investment adviser and its managing member.

Corporate Governance Specialist

Form classification and certification signal a non-control, passive intent despite material ownership above 5%.

The use of Schedule 13G and the explicit certification that the securities are not held to change or influence control imply the reporting persons consider the stake passive under SEC rules. Mr. Morrow is identified as managing member of the general partner of Callodine, and both Callodine and Mr. Morrow report identical shared voting and dispositive powers, consistent with an adviser-client custody structure. The filing includes required identifying information and an exhibit noting a joint filing statement. No amendments, plans, or group arrangements are reported.

SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549

SCHEDULE 13G

UNDER THE SECURITIES EXCHANGE ACT OF 1934

Spectrum Brands Holdings, Inc.

(Name of Issuer)

Common Stock, $0.01 par value

(Title of Class of Securities)

84790A105

(CUSIP Number)

06/30/2025

(Date of Event Which Requires Filing of this Statement)

Check the appropriate box to designate the rule pursuant to which this Schedule is filed:

Rule 13d-1(b)

Rule 13d-1(c)

Rule 13d-1(d)

SCHEDULE 13G

CUSIP No. 84790A105

1

Names of Reporting Persons

Callodine Capital Management, LP

2

Check the appropriate box if a member of a Group (see instructions)

(a)
(b)

3

Sec Use Only

4

Citizenship or Place of Organization

DELAWARE

Number of Shares Beneficially Owned by Each Reporting Person With:

5	Sole Voting Power 0.00
6	Shared Voting Power 1,354,057.00
7	Sole Dispositive Power 0.00
8	Shared Dispositive Power 1,354,057.00

9

Aggregate Amount Beneficially Owned by Each Reporting Person

1,354,057.00

10

Check box if the aggregate amount in row (9) excludes certain shares (See Instructions)

11

Percent of class represented by amount in row (9)

5.42 %

12

Type of Reporting Person (See Instructions)

IA

SCHEDULE 13G

CUSIP No. 84790A105

1

Names of Reporting Persons

James S. Morrow

2

Check the appropriate box if a member of a Group (see instructions)

(a)
(b)

3

Sec Use Only

4

Citizenship or Place of Organization

UNITED STATES

Number of Shares Beneficially Owned by Each Reporting Person With:

5	Sole Voting Power 0.00
6	Shared Voting Power 1,354,057.00
7	Sole Dispositive Power 0.00
8	Shared Dispositive Power 1,354,057.00

9

Aggregate Amount Beneficially Owned by Each Reporting Person

1,354,057.00

10

Check box if the aggregate amount in row (9) excludes certain shares (See Instructions)

11

Percent of class represented by amount in row (9)

5.42 %

12

Type of Reporting Person (See Instructions)

IN, HC

SCHEDULE 13G

Item 1.
(a)	Name of issuer: Spectrum Brands Holdings, Inc.
(b)	Address of issuer's principal executive offices: 3001 DEMING WAY, MIDDLETON, Wisconsin, 53562
Item 2.
(a)	Name of person filing: Callodine Capital Management, LP James S. Morrow Shares reported herein for Callodine Capital Management, LP ("Callodine") represent shares held for the benefit of investment advisory clients of Callodine. Shares reported herein for Mr. Morrow represent the above referenced shares reported for Callodine. Mr. Morrow is the managing member of the general partner of Callodine. Each of the Reporting Persons disclaims beneficial ownership of the shares reported herein except to the extent of its or his pecuniary interest therein.
(b)	Address or principal business office or, if none, residence: Callodine Capital Management, LP James S. Morrow c/o Callodine Capital Management, LP Two International Place, Suite 1830 Boston, MA 02110
(c)	Citizenship: Callodine Capital Management, LP - Delaware James S. Morrow - United States
(d)	Title of class of securities: Common Stock, $0.01 par value
(e)	CUSIP No.: 84790A105
Item 3.	If this statement is filed pursuant to §§ 240.13d-1(b) or 240.13d-2(b) or (c), check whether the person filing is a:
(a)	Broker or dealer registered under section 15 of the Act (15 U.S.C. 78o);
(b)	Bank as defined in section 3(a)(6) of the Act (15 U.S.C. 78c);
(c)	Insurance company as defined in section 3(a)(19) of the Act (15 U.S.C. 78c);
(d)	Investment company registered under section 8 of the Investment Company Act of 1940 (15 U.S.C. 80a-8);
(e)	An investment adviser in accordance with § 240.13d-1(b)(1)(ii)(E);
(f)	An employee benefit plan or endowment fund in accordance with § 240.13d-1(b)(1)(ii)(F);
(g)	A parent holding company or control person in accordance with § 240.13d-1(b)(1)(ii)(G);
(h)	A savings associations as defined in Section 3(b) of the Federal Deposit Insurance Act (12 U.S.C. 1813);
(i)	A church plan that is excluded from the definition of an investment company under section 3(c)(14) of the Investment Company Act of 1940 (15 U.S.C. 80a-3);
(j)	A non-U.S. institution in accordance with § 240.13d-1(b)(1)(ii)(J). If filing as a non-U.S. institution in accordance with § 240.13d-1(b)(1)(ii)(J), please specify the type of institution:
(k)	Group, in accordance with Rule 240.13d-1(b)(1)(ii)(K).
Item 4.	Ownership
(a)	Amount beneficially owned: 1,354,057
(b)	Percent of class: 5.42 %
(c)	Number of shares as to which the person has:
	(i) Sole power to vote or to direct the vote: 0
	(ii) Shared power to vote or to direct the vote: 1,354,057
	(iii) Sole power to dispose or to direct the disposition of: 0
	(iv) Shared power to dispose or to direct the disposition of: 1,354,057 The percentages reported herein with respect to the Reporting Persons' holdings are calculated based upon a statement in the Issuer's Quarterly Report on Form 10-Q for the quarterly period ended on March 30, 2025, as filed with the Securities and Exchange Commission on May 8, 2025, that there were 25,003,906 shares of Common Stock, par value $0.01 per share, of the Issuer outstanding as of May 1, 2025.
Item 5.	Ownership of 5 Percent or Less of a Class.
Item 6.	Ownership of more than 5 Percent on Behalf of Another Person.
	Not Applicable
Item 7.	Identification and Classification of the Subsidiary Which Acquired the Security Being Reported on by the Parent Holding Company or Control Person.
	Not Applicable
Item 8.	Identification and Classification of Members of the Group.
	Not Applicable
Item 9.	Notice of Dissolution of Group.
	Not Applicable

Item 10.

Certifications:

By signing below I certify that, to the best of my knowledge and belief, the securities referred to above were acquired and are held in the ordinary course of business and were not acquired and are not held for the purpose of or with the effect of changing or influencing the control of the issuer of the securities and were not acquired and are not held in connection with or as a participant in any transaction having that purpose or effect, other than activities solely in connection with a nomination under ?? 240.14a-11.

SIGNATURE

After reasonable inquiry and to the best of my knowledge and belief, I certify that the information set forth in this statement is true, complete and correct.

Callodine Capital Management, LP

Signature:	By: Callodine Capital Management, LLC, Its General Partner, By: James S. Morrow, Managing Member
Name/Title:	/s/ James S. Morrow, Managing Member
Date:	08/14/2025

James S. Morrow

Signature:	/s/ James S. Morrow
Name/Title:	James S. Morrow
Date:	08/14/2025

Exhibit Information

Exhibit 99.1 - Joint Filing Statement

FAQ

What stake in Spectrum Brands (SPB) did Callodine Capital report?

Callodine Capital Management, LP and James S. Morrow reported beneficial ownership of 1,354,057 shares, equal to 5.42% of outstanding common stock.

Is the 13G filing claiming passive or active intent?

The filing is made on Schedule 13G and includes a certification that the securities are held in the ordinary course of business and not to influence control, indicating a passive intent.

How were the ownership percentages calculated?

The percentage is based on the issuers reported outstanding shares of 25,003,906 as of May 1, 2025, per the issuers quarterly report.

Who has voting and dispositive power over the shares?

The reporting persons state 0 sole voting power and 1,354,057 shared voting power; similarly 0 sole dispositive power and 1,354,057 shared dispositive power.

Who signed the filing and when?

The filing is signed by Callodine Capital Management, LP via its general partner and by James S. Morrow as Managing Member, with signature dates of 08/14/2025.