If you have ever picked up a golf club and felt like it was made for you, there is a decent chance it had a Callaway logo on it. The brand is one of the most recognized names in the sport — trusted by amateurs and PGA Tour professionals alike. But the ownership story behind Callaway Golf in 2026 is one of the most dramatic in recent sports business history, involving a corporate name change, a $1.1 billion spin-off deal, and a company that just reinvented itself from scratch.
What Is Callaway Golf?
Callaway Golf Company is an American global sports equipment and apparel company, publicly traded on the New York Stock Exchange under the ticker symbol CALY. It was founded in 1982 by Ely Callaway Jr. and is headquartered in Carlsbad, California.
The company designs, manufactures, and sells premium golf clubs, golf balls, apparel, bags, and accessories. Its brand portfolio includes Callaway, Odyssey, TravisMathew, and OGIO — making it one of the most complete golf lifestyle companies in the world.
Who Owns Callaway Golf Right Now in 2026?
Callaway Golf Company is a publicly traded company on the NYSE (ticker: CALY). This means it is owned by its shareholders — with no single private owner or controlling family.
The largest institutional shareholders include Vanguard Group (~8.2%) and BlackRock (~6.5%), which anchor the institutional side of ownership. Insiders including executives and board members own approximately 4.8% of CALY shares, while retail investors account for roughly 33.2% of the float.
The company is led by Chip Brewer, who has served as President and CEO since 2012 — one of the longest-tenured CEOs in the golf industry.
Ownership and Key Stakeholders Table
| Owner / Shareholder | Type | Stake | Key Detail |
|---|---|---|---|
| Vanguard Group | Largest Institutional Shareholder | ~8.2% of CALY | Passive index fund giant; top institutional holder |
| BlackRock, Inc. | Second Largest Institutional Shareholder | ~6.5% of CALY | World’s largest asset manager |
| State Street Global Advisors | Institutional Investor | Significant CALY stake | Major index fund manager; consistent holder |
| Retail / Public Shareholders | Individual Investors | ~33.2% of float | Unusually high retail presence for a consumer brand |
| Company Insiders | Executives & Board Members | ~4.8% of CALY | Includes CEO Chip Brewer and board directors |
| Callaway Golf (CALY) — 40% stake in Topgolf | Retained Equity Interest | 40% of Topgolf | Retained after selling 60% to Leonard Green in January 2026 |
| Leonard Green & Partners (LGP) | Private Equity — Topgolf Owner | 60% of Topgolf | Acquired majority of Topgolf in $1.1B deal effective January 1, 2026 |
| Chip Brewer | President & CEO | Part of insider 4.8% | CEO since 2012; led the Topgolf spin-off and company rebrand |
| Ely Callaway Jr. | Founder (Historical) | N/A | Founded Callaway Golf in 1982 in Carlsbad, California |
The Origin Story: One Man With a Big Vision
Callaway Golf was born in 1982, founded by Ely Callaway Jr. — a former textile executive who had already built and sold a wine business before turning his attention to golf equipment.
Ely believed that golf clubs were being made without enough thought for average players. He wanted to build equipment that would make the game more enjoyable and accessible for everyday golfers — not just professionals. That customer-first philosophy is what drove Callaway to invent the Big Bertha driver in 1991 — the oversized metal wood that completely changed the industry and turned Callaway into a household name almost overnight.
The Topgolf Merger — And the Breakup
In 2021, Callaway made a massive and controversial bet by merging with Topgolf — the popular golf entertainment chain — in a stock-for-stock deal worth approximately $2 billion. The combined company was renamed Topgolf Callaway Brands Corp. and traded under the ticker MODG.
The idea was to combine premium golf equipment with a booming entertainment business. But the Topgolf venues struggled with rising costs and softening consumer spending, dragging on the parent company’s stock performance for years.
On November 18, 2025, the company announced a definitive agreement to sell a 60% stake in Topgolf to private equity firm Leonard Green & Partners (LGP), valuing Topgolf at approximately $1.1 billion.
The transaction completed on January 1, 2026, with the company receiving approximately $800 million in cash proceeds. The company also used the proceeds to repay $1 billion in outstanding debt — transforming itself into a nearly debt-free business almost overnight.
The Name Change: Back to Callaway Golf
The Topgolf spin-off was not just a financial transaction — it was a complete identity reset.
Effective January 16, 2026, the company changed its name back to Callaway Golf Company and updated its NYSE ticker symbol from MODG to CALY. The company retained a 40% stake in Topgolf, preserving some upside while refocusing entirely on its core golf equipment and apparel business.
Callaway Golf Company delivered strong Q2 2026 results with revenue of $612 million, up 2% year-over-year, and adjusted EBITDA of $125 million, up 36%. The company has paid off $1.4 billion in debt and ended the quarter in a net cash position — a remarkable turnaround from where it stood just two years earlier.
What Brands Does Callaway Golf Own?
Callaway Golf Company in 2026 is a focused, pure-play golf business with a tight portfolio of brands. The brand portfolio includes Callaway Golf, Odyssey (putters), TravisMathew (lifestyle apparel), and OGIO (bags and accessories).
The company also retains its 40% stake in Topgolf, which continues to operate its entertainment venues — now independently managed under Leonard Green & Partners — and its Toptracer ball-tracking technology used at driving ranges worldwide.
Frequently Asked Questions (FAQs)
Q1. Who owns Callaway Golf in 2026?
Callaway Golf Company (NYSE: CALY) is publicly traded, with Vanguard (~8.2%) and BlackRock (~6.5%) as the largest institutional shareholders.
Q2. Who founded Callaway Golf?
Callaway Golf was founded in 1982 by Ely Callaway Jr. in Carlsbad, California.
Q3. Who is the current CEO of Callaway Golf?
Chip Brewer has served as President and CEO of Callaway Golf Company since 2012.
Q4. Is Callaway Golf still connected to Topgolf?
Yes. Callaway Golf retains a 40% equity stake in Topgolf after selling the 60% majority to Leonard Green & Partners in January 2026.
Q5. What is Callaway Golf’s stock ticker in 2026?
Callaway Golf Company trades on the NYSE under the ticker symbol CALY, changed from MODG on January 16, 2026.
Q6. What happened to Topgolf Callaway Brands?
The company sold 60% of Topgolf to Leonard Green & Partners for $1.1 billion and renamed itself back to Callaway Golf Company in January 2026.
Q7. What brands does Callaway Golf own?
Callaway Golf owns Callaway, Odyssey, TravisMathew, and OGIO, plus a 40% stake in Topgolf and its Toptracer technology.
Q8. Is Callaway Golf profitable in 2026?
Yes. Callaway Golf reported Q2 2026 revenue of $612 million (up 2%) and adjusted EBITDA of $125 million (up 36%), while ending the quarter in a net cash position.
Callaway Golf Company (NYSE: CALY) is a publicly traded American company owned by its shareholders. The two biggest institutional shareholders are Vanguard Group (~8.2%) and BlackRock (~6.5%). The company was founded by Ely Callaway Jr. in 1982, merged with Topgolf in 2021, and then sold 60% of Topgolf to Leonard Green & Partners effective January 1, 2026 — simultaneously renaming itself back to Callaway Golf Company and retiring $1.4 billion in debt.
Under CEO Chip Brewer, Callaway Golf in 2026 is leaner, stronger, and more focused than it has been in years — a pure-play golf company once again.