Key Points
Solel Partners added 181,700 shares of Cal-Maine Foods in the fourth quarter.
As a result, the quarter-end position value increased by $14.46 million, reflecting the purchase of these new shares.
Cal-Maine Foods stake is outside the fund's top five holdings, comprising about 2% of AUM.
Solel Partners LP initiated a new position in Cal-Maine Foods(NASDAQ:CALM), acquiring 181,700 shares in the fourth quarter for an estimated $14.46 million, according to a February 17, 2026, SEC filing.
What happened
Solel Partners LP disclosed a new stake of 181,700 shares in Cal-Maine Foods during the fourth quarter, as detailed in its SEC filing dated February 17, 2026. This addition contributed a $14.46 million increase in quarter-end position value.
What else to know
- This is a new position for Solel Partners LP and accounts for 2.34% of its reportable 13F AUM.
- Top fund holdings after the filing:
- NYSE: UNH: $68.18 million (11.0% of AUM)
- NYSE: SYF: $61.65 million (10.0% of AUM)
- NYSE: CVS: $47.12 million (7.6% of AUM)
- NASDAQ: BRZE: $43.62 million (7.1% of AUM)
- NYSE: BRSL: $43.27 million (7.0% of AUM)
- As of February 17, 2026, CALM shares were priced at $81.23, down 3.0% over the past year and trailing the S&P 500 by 19.12 percentage points.
Company overview
| Metric | Value |
|---|---|
| Revenue (TTM) | $4.21 billion |
| Net Income (TTM) | $1.15 billion |
| Dividend Yield | 9.74% |
| Price (as of market close 2/17/26) | $81.23 |
Company snapshot
- Cal-Maine produces, grades, packages, markets, and distributes shell eggs, including specialty eggs such as cage-free, organic, and nutritionally enhanced varieties under brands like Egg-Land's Best and Land O' Lakes.
- The company operates an integrated business model focused on large-scale egg production and distribution, generating revenue primarily through the sale of shell eggs and specialty egg products.
- It serves national and regional grocery store chains, club stores, independent supermarkets, and foodservice distributors across the southwestern, southeastern, mid-western, and mid-Atlantic United States.
The company’s scale, operational efficiency, and focus on specialty egg products position it as a key supplier to major retail and foodservice customers. Its strategy emphasizes product diversity and broad market reach to maintain a competitive edge in the consumer defensive sector.
What this transaction means for investors
Staples exposure changes the risk profile of a portfolio heavy on healthcare and fintech. With top holdings in UnitedHealth, Synchrony, CVS and Braze, adding a scaled food producer introduces a different earnings driver that is less tied to credit cycles or software multiples.
Cal-Maine’s latest quarter shows why that matters. Second quarter net sales were $769.5 million, down 19.4% as egg prices normalized, and diluted EPS fell to $2.13, down a steep 52.3%. Yet the business still generated $102.8 million in quarterly net income (though it was down 53%) and nearly $95 million in operating cash flow.
More importantly, the mix is shifting. Specialty eggs accounted for 44% of shell egg sales in the quarter, and prepared foods sales surged to $71.7 million. Management is investing $36 million to expand prepared foods capacity by over 30% in the next two years. Long-term investors should watch that evolution closely. Commodity swings will persist, but a higher value mix could make earnings less volatile over time.
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Synchrony Financial is an advertising partner of Motley Fool Money. Jonathan Ponciano has no position in any of the stocks mentioned. The Motley Fool has positions in and recommends Braze and Cal-Maine Foods. The Motley Fool recommends CVS Health and UnitedHealth Group. The Motley Fool has a disclosure policy.
