SEC 13F Intelligence

Managers / Q2 2025 · view latest →

Carlson Capital, L.P.

CIK 0001056973 · 2100 MCKINNEY AVE, STE 1900, DALLAS, TX, 75201 · 2149329600

Reported Value
$242M
Q2 2025
Positions
65
Filings on Record
31
2019–present window
Filed
Aug 13, 2025
original filing

Summary

Carlson Capital, L.P. reported $242M in U.S.-listed holdings across 65 positions for Q2 2025.

The portfolio is heavily concentrated: SWKH alone accounts for 51.7% of reported value.

Compared with Q1 2025, the fund opened 41 new positions and exited 17.

Portfolio Metrics

Turnover
+17.1%
vs prior filed quarter
Top-10 Concentration
+60.1%
share of reported value
Largest Position
+51.7%
Swk
New / Exited
41 / 17
positions this quarter

Methodology: turnover is min(value bought, value sold) ÷ average reported value across the two quarters — value-based, so market moves inflate it slightly versus a share-based measure. Concentration and largest position are shares of the filing’s total reported value, options excluded. New/exited counts compare against the prior filed quarter. All figures derive solely from the fund’s 13F filings.

Reported Value by Quarter

13F Reported Value
Q4 ’18: $6.5BQ4 ’18Q1 ’19: $5.6BQ2 ’19: $6.6BQ3 ’19: $5.5BQ4 ’19: $5.5BQ4 ’19Q1 ’20: $3.8BQ2 ’20: $3.6BQ3 ’20: $6.8BQ4 ’20: $2.8BQ4 ’20Q1 ’21: $2.7BQ2 ’21: $2.1BQ3 ’21: $1.9BQ4 ’21: $1.7BQ4 ’21Q1 ’22: $1.5BQ2 ’22: $1.5BQ3 ’22: $1.3BQ4 ’22: $1.3BQ4 ’22Q1 ’23: $1.1BQ2 ’23: $1.2BQ3 ’23: $1.3BQ4 ’23: $1.3BQ4 ’23Q1 ’24: $1.2BQ2 ’24: $641MQ3 ’24: $166MQ4 ’24: $170MQ4 ’24Q1 ’25: $256MQ2 ’25: $242MQ3 ’25: $271MQ4 ’25: $282MQ4 ’25Q1 ’26: $318Mfilingsflow.com

Portfolio Composition

By security type
Common Stock: 77.0%ETP: 22.6%Other: 0.4%
  • Common Stock · 77.0% · $186M
  • ETP · 22.6% · $55M
  • Other · 0.4% · $1M

Quarter-over-Quarter Changes full breakdown →

vs Q1 2025 (amended baseline)

IssuerMoveShare ΔShares nowValue ΔValue now
MR COOPER GROUP INCNEW+16.2K16.2K+$2M$2M
RDFNREDFIN CORPNEW+210.0K210.0K+$2M$2M
AZEKAZEK CO INCNEW+37.0K37.0K+$2M$2M
DWDMORGAN STANLEYNEW+6.5K6.5K+$915,590$915,590
TFCTRUIST FINL CORPNEW+21.2K21.2K+$911,388$911,388
PEPPEPSICO INCNEW+6.7K6.7K+$884,668$884,668
FYBRFRONTIER COMMUNICATIONS PARENEW+24.0K24.0K+$873,600$873,600
ISHARES TRNEW+4.0K4.0K+$863,160$863,160

Value changes conflate price moves with buying and selling — share changes are the real signal. Share counts are not split-adjusted.

Holdings — Q2 2025

43 positions
Export to Excel
#IssuerClass% PortfolioValue ↓Shares
1SWKHSWK HLDGS CORPhistory →COM NEW51.71%$125M8.49M
2KELKELLANOVAhistory →COM1.58%$4M48.0K
3HESHESS CORPhistory →COM1.26%$3M22.0K
4MR COOPER GROUP INCCOM1.00%$2M16.2K
5RDFNREDFIN CORPCOM0.97%$2M210.0K
6NVDANVIDIA CORPORATIONCOM0.89%$2M13.6K
7AZEKAZEK CO INCCL A0.83%$2M37.0K
8ISHARES TRRUSSELL 2000 ETF · 20 YR TR BD ETF0.69%$2M13.2K
9GOOGALPHABET INCCAP STK CL C0.63%$2M8.6K
10FITBFIFTH THIRD BANCORPCOM0.61%$1M36.0K
11SSBUSDSOUTHSTATE CORPORATIONCOM0.60%$1M15.9K
12XXYCROSS CTRY HEALTHCARE INCCOM0.54%$1M100.0K
13SYU1SYNOVUS FINL CORPCOM NEW0.49%$1M22.9K
14FANGDIAMONDBACK ENERGY INCCOM0.40%$961,8007.0K
15DWDMORGAN STANLEYCOM NEW0.38%$915,5906.5K
16TFCTRUIST FINL CORPCOM0.38%$911,38821.2K
17PEPPEPSICO INCCOM0.37%$884,6686.7K
18AKXANSYS INCCOM0.36%$878,0502.5K
19FYBRFRONTIER COMMUNICATIONS PARECOM0.36%$873,60024.0K
20PSXPHILLIPS 66COM0.34%$835,1007.0K
21PNCPNC FINL SVCS GROUP INCCOM0.34%$820,2484.4K
22ACIALBERTSONS COS INCCOMMON STOCK0.33%$800,17237.2K
23LOWLOWES COS INCCOM0.33%$798,7323.6K
24MTDRMATADOR RES COCOM0.32%$782,60816.4K
25BOKFBOK FINL CORPCOM NEW0.32%$771,2777.9K
26MSFTMICROSOFT CORPCOM0.31%$746,1151.5K
27WMTWALMART INCCOM0.30%$733,3507.5K
28INTERNATIONAL GAME TECHNOLOGSHS USD0.29%$711,45045.0K
29DNBDUN & BRADSTREET HLDGS INCCOM0.28%$681,75075.0K
30CYTKCYTOKINETICS INCCOM NEW0.28%$677,32020.5K
31LOCOEL POLLO LOCO HLDGS INCCOM0.28%$671,61061.0K
32GPNGLOBAL PMTS INCCOM0.27%$648,3248.1K
33SFNCSIMMONS 1ST NATL CORPCL A $1 PAR0.26%$623,78432.9K
34FISVFISERV INCCOM0.26%$620,6763.6K
35DECKDECKERS OUTDOOR CORPCOM0.25%$608,1135.9K
36ROSTROSS STORES INCCOM0.25%$599,6264.7K
37ON1OLD NATL BANCORP INDCOM0.25%$593,25227.8K
38BJBJS WHSL CLUB HLDGS INCCOM0.24%$593,0655.5K
39ORLYOREILLY AUTOMOTIVE INCCOM0.24%$576,8326.4K
40OIIOCEANEERING INTL INCCOM0.24%$573,94427.7K
41ZIONZIONS BANCORPORATION N ACOM0.23%$560,95210.8K
42CAGCONAGRA BRANDS INCCOM0.22%$540,40826.4K
43SPDR SERIES TRUSTS&P REGL BKG0.22%$528,5718.9K

Filing History

QuarterReported ValuePositionsFiledTypeLinks
Q1 2026$318M72May 28, 202613F-HRchanges · EDGAR ↗
Q4 2025$282M70Feb 3, 202613F-HRchanges · EDGAR ↗
Q3 2025$271M63Nov 5, 202513F-HRchanges · EDGAR ↗
Q2 2025$242M65Aug 13, 202513F-HRchanges · EDGAR ↗
Q1 2025$256M40May 14, 202513F-HRchanges · EDGAR ↗
Q4 2024$170M33Feb 5, 202513F-HRchanges · EDGAR ↗
Q3 2024$166M4Nov 14, 202413F-HRchanges · EDGAR ↗
Q2 2024$641M93Aug 14, 202413F-HRchanges · EDGAR ↗
Q1 2024$1.2B114May 14, 202413F-HRchanges · EDGAR ↗
Q4 2023$1.3B121Feb 13, 202413F-HRchanges · EDGAR ↗
Q3 2023$1.3B134Nov 14, 202313F-HRchanges · EDGAR ↗
Q2 2023$1.2B118Aug 10, 202313F-HRchanges · EDGAR ↗
Q1 2023$1.1B110May 12, 202313F-HRchanges · EDGAR ↗
Q4 2022$1.3B117Feb 14, 202313F-HRchanges · EDGAR ↗
Q3 2022$1.3B120Nov 14, 202213F-HRchanges · EDGAR ↗
Q2 2022$1.5B124Aug 15, 202213F-HRchanges · EDGAR ↗
Q1 2022$1.5B151May 13, 202213F-HRchanges · EDGAR ↗
Q4 2021$1.7B144Feb 11, 202213F-HRchanges · EDGAR ↗
Q3 2021$1.9B161Nov 12, 202113F-HRchanges · EDGAR ↗
Q2 2021$2.1B152Aug 13, 202113F-HRchanges · EDGAR ↗
Q1 2021$2.7B169May 13, 202113F-HRchanges · EDGAR ↗
Q4 2020$2.8B152Feb 12, 202113F-HRchanges · EDGAR ↗
Q3 2020REVEALED$6.8B341Nov 16, 202013F-HRchanges · EDGAR ↗
Q2 2020$3.6B162Aug 14, 202013F-HRchanges · EDGAR ↗
Q1 2020$3.8B210May 14, 202013F-HRchanges · EDGAR ↗
Q4 2019$5.5B240Feb 14, 202013F-HRchanges · EDGAR ↗
Q3 2019$5.5B224Nov 13, 201913F-HRchanges · EDGAR ↗
Q2 2019$6.6B250Aug 12, 201913F-HRchanges · EDGAR ↗
Q1 2019$5.6B242May 14, 201913F-HRchanges · EDGAR ↗
Q4 2018$6.5B266Feb 13, 201913F-HRchanges · EDGAR ↗

13F filings are due up to 45 days after quarter end, so holdings shown here lag the fund’s current book. Source: original SEC filing on EDGAR ↗.