Yes, CODI is a good 401 K investment.
Owning stocks is about three things, management, management, and management. Here, in Joe M, you have a proven manager who is offering you a chance to invest in what he invest in and he knows what he is doing.
FYI, two others are ATRI and ROST you can buy all 3 of these companies and know that they are well managed. Keep re investing your dividends and go to sleep at night without worrying about your investments.