Who Owns Callaway Golf Company? Current Ownership 2025

By Sarah Miller · September 15, 2029

Callaway Golf Company is owned by Topgolf Callaway Brands Corp., a publicly traded company (NYSE: MODG) formed through the merger of Callaway and Topgolf in 2021. The largest institutional shareholders include The Vanguard Group, BlackRock, and Fidelity Investments.

Who Owns Callaway Golf? A Comprehensive Overview

Callaway Golf Company, known globally for its innovative golf equipment, is currently a subsidiary of Topgolf Callaway Brands Corp., which operates under the stock ticker MODG on the New York Stock Exchange. The ownership structure stems from the strategic merger between Callaway and Topgolf in June 2021, creating an integrated golf and entertainment powerhouse.

Key Ownership Details

Parent Company: Topgolf Callaway Brands Corp.
Stock Ticker: NYSE: MODG
Merger Date: Completed June 14, 2021
Headquarters: Carlsbad, California, USA
CEO: Chip Brewer (as of 2025)

Major Shareholders of Topgolf Callaway Brands Corp.

The actual ownership of Callaway Golf lies with the shareholders of Topgolf Callaway Brands Corp. Institutional investors hold the majority of shares, with the top three being The Vanguard Group, BlackRock, and Fidelity Investments. Below is a breakdown of the largest institutional shareholders as of Q2 2025.

Institution	Shares Held	Ownership Percentage	Value (USD)
The Vanguard Group	28,750,000	9.8%	$685 million
BlackRock, Inc.	25,320,000	8.7%	$603 million
Fidelity Management & Research	18,900,000	6.5%	$450 million
State Street Corporation	14,200,000	4.9%	$338 million
Geode Capital Management	10,150,000	3.5%	$241 million

Table data source:1, 2

The data shows that institutional investors control over 33% of Topgolf Callaway Brands Corp., indicating strong confidence from financial firms in the company’s long-term strategy. The Vanguard Group remains the single largest shareholder, followed closely by BlackRock. These stakes reflect stability in ownership despite market fluctuations in recent years.

History of Callaway Ownership

Understanding who owns Callaway today requires a look at its corporate evolution. Founded in 1982 by entrepreneur Ely Callaway, the brand grew rapidly due to breakthrough products like the Big Bertha driver. Over time, ownership transitioned from private hands to public markets.

Key Milestones in Ownership

1982: Ely Callaway founds Callaway Golf Company.
1992: Company goes public (NYSE: ELY), later changing ticker to CALL.
2003: Ely Callaway steps down as chairman; company becomes fully institutionalized.
2021: Merger with Topgolf finalized, forming Topgolf Callaway Brands Corp. (MODG).
2023–2025: Strategic restructuring focuses on premium golf brands and digital engagement.

Subsidiaries and Brand Portfolio

Topgolf Callaway Brands Corp. manages several major golf-related brands beyond the core Callaway line. This diversified portfolio strengthens its global market position.

Callaway: Premium clubs, balls, and apparel
OGIO: Performance bags and lifestyle gear
TravisMathew: Upscale golf and casual wear
Topgolf: Entertainment venues with tech-driven driving ranges
Jack Wolfskin: Outdoor apparel (acquired in 2023)

Frequently Asked Questions About Callaway Golf Ownership

Is Callaway Golf still an independent company?

No, Callaway Golf is no longer independent. It merged with Topgolf in 2021 to form Topgolf Callaway Brands Corp., which now owns and operates both businesses under one corporate umbrella.

Who is the CEO of Callaway Golf Company?

Chip Brewer serves as President and CEO of Topgolf Callaway Brands Corp. as of 2025, overseeing all operations including Callaway, Topgolf, and TravisMathew.

Is Callaway Golf owned by an American or foreign company?

Callaway Golf is American-owned. Topgolf Callaway Brands Corp. is headquartered in Carlsbad, California, and listed on the NYSE. While it has international shareholders, the company remains U.S.-based and operated.

Did Callaway go out of business?

No, Callaway did not go out of business. In fact, it expanded through the merger with Topgolf. As of 2025, the company continues to innovate in golf equipment and experiential entertainment.

Can I buy stock in Callaway Golf?

Yes, you can invest in Callaway Golf by purchasing shares of Topgolf Callaway Brands Corp. under the ticker symbol MODG on the New York Stock Exchange.