
What smart money is saying about Callaway Golf
1 fund in our archive has pitched Callaway Golf — most recently O’Keefe Stevens Advisory in September 2026.
Callaway Golf Company is a global enterprise that develops, produces, and sells a diverse range of golf equipment, golf and lifestyle apparel, and associated accessories. Its operations span across the United States, Europe, Asia, and other international markets, organized into three primary business divisions: Topgolf, Golf Equipment, and Active Lifestyle. The Topgolf segment manages entertainment venues equipped with cutting-edge technology-enabled hitting bays, complete with bars, dining areas, and event spaces, in addition to providing its Toptracer ball-flight tracking technology. In the Golf Equipment segment, the company offers a comprehensive selection of golf clubs, including drivers, fairway woods, hybrids, irons, wedges, putters, and pre-owned clubs, marketed predominantly under the Callaway and Odyssey brands. This division also manufactures golf balls under the Callaway Golf and Strata labels. The Active Lifestyle segment encompasses various brands: Callaway provides golf apparel, footwear, and accessories such as golf bags, gloves, headwear, and practice aids; TravisMathew features clothing, footwear, outerwear, and accessories for men, women, and youth; OGIO specializes in storage and travel solutions like backpacks, travel bags, duffels, and golf bags; and Jack Wolfskin supplies outdoor apparel for men, women, and children (including jackets, trousers, dresses, skirts, and tops), footwear, and outdoor gear such as packs, bags, travel bags, tents, and sleeping bags. Callaway distributes its products through a broad array of channels, including specialized golf retailers, sporting goods stores, online platforms, large mass merchants, department stores, third-party distributors, mail-order services, and directly to consumers via its own retail outlets and websites. The company, founded in 1982 and based in Carlsbad, California, was previously known as Topgolf Callaway Brands Corp. and is scheduled to officially change its name to Callaway Golf Company in January 2026.
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Position history
Every position in Callaway Golf on record in the archive was reported in Q3 2026, across 1 fund letter, with no move described.
| Quarter | Letters | Bought | Sold | Theses |
|---|---|---|---|---|
| Q3 2026 | 1 | 0 | 0 | 1 |
Bought and Sold count moves: the same sentence published by several funds of one house in a quarter counts once.
Fund activity · 1 position
- September 2026
“Underperformers During the QuarterSeveral of the stocks that worked best in Q2 were among the weakest performers in Q3. Sphere Entertainment (SPHR) -22.3%, after a 47.5% gain in Q2. The venue business is still growing (Q2 Sphere revenue +29%). The Wizard of Oz has slowed from its early run, and Las Vegas visitation fell 4.3% y/y in August. In Q2, we wrote that great assets often have longer right tails than one underwrites. The path along that tail is rarely smooth. Callaway Golf (CALY) -25.0%.”
Callaway Golf
Fund coverage · 1 thesis
- O’Keefe Stevens AdvisorySeptember 2026
Callaway Golf is a golf franchise with a repaired balance sheet, net cash, and buybacks, where the golf-plus-buybacks thesis remains intact at a discount to fair value.
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