Carlson Capital, L.P.
Long book
$253.1M
Q1 2026
Positions
66
Top-10 weight
70%
concentration
Last quarter
+2.3%
SPY +14.8%
Turnover
64%
of book per quarter
Strategy in plain words
auto-generated from filingsCarlson Capital, L.P. is a concentrated fundamental stock-picker, specialised in financials (77% of the long book), running a $253.1M US long book across 66 positions.
The portfolio is concentrated: the top 10 names carry 70% of the portfolio. Turnover is high — positions rotate quickly, so individual names matter less than the process. Current anchor positions: SWK HOLDINGS CORP, PINNACLE FINANCIAL PARTNERS, HUNTINGTON BANCSHARES INC, CULLEN/FROST BANKERS INC, WELLS FARGO & CO.
Over the last 9 quarters its long book ran on average 2.3pp per quarter behind the S&P 500, beating the index in 3 of 9 quarters. We rate its filings as signal-bearing: position changes reflect genuine views.
Implied long-book return vs S&P 500
methodology: positions priced quarterly, no shorts/options Fund long book S&P 500
Q1 2024
-5.4%
Q2 2024
+7.6%
Q3 2024
+1.0%
Q4 2024
+0.8%
Q1 2025
+4.1%
Q2 2025
+3.2%
Q3 2025
+2.2%
Q4 2025
+3.4%
Q1 2026
+2.3%
Sector allocation
Financials 75%
Energy 7%
Consumer discretionary 5%
Other 4%
Industrials 3%
Services media 2%
Technology 1%
Communications 1%
Long book by quarter
What does Carlson Capital, own?
Q1 2026 13F| Company | Sector | Shares | Value | % of book | Change |
|---|---|---|---|---|---|
| SWKHL SWK HOLDINGS CORP | Financials | 8.5M | $144.5M | 57.1% | Held |
| PNFP PINNACLE FINANCIAL PARTNERS | Financials | 60.1K | $5.2M | 2.0% | New |
| HBAN HUNTINGTON BANCSHARES INC | Financials | 284.5K | $4.5M | 1.8% | +153.3% |
| CFR CULLEN/FROST BANKERS INC | Financials | 28.8K | $4.0M | 1.6% | +120.0% |
| WFC WELLS FARGO & CO | Financials | 45.5K | $3.6M | 1.4% | New |
| SDA SEALED AIR CORP | Services media | 76.0K | $3.2M | 1.3% | +40.7% |
| HD HOME DEPOT INC | Consumer discretionary | 9.5K | $3.1M | 1.2% | +312.0% |
| EA ELECTRONIC ARTS INC | Technology | 13.5K | $2.8M | 1.1% | +12.5% |
| WBS WEBSTER FINANCIAL CORP | Financials | 39.0K | $2.7M | 1.1% | New |
| WBD WARNER BROS DISCOVERY INC | Communications | 96.0K | $2.6M | 1.0% | +140.0% |
| CVX CHEVRON CORP | Energy | 12.7K | $2.6M | 1.0% | +33.8% |
| EXE EXPAND ENERGY CORP | Energy | 23.7K | $2.6M | 1.0% | New |
| NSC NORFOLK SOUTHERN CORP | Industrials | 8.7K | $2.5M | 1.0% | +52.6% |
| BAC BANK OF AMERICA CORP | Financials | 48.2K | $2.3M | 0.9% | +225.4% |
| SLB SLB LTD | Energy | 42.8K | $2.2M | 0.9% | New |
| PSX PHILLIPS 66 | Energy | 11.8K | $2.1M | 0.8% | +256.3% |
| MTDR MATADOR RESOURCES CO | Energy | 33.8K | $2.1M | 0.8% | +73.1% |
| TFC TRUIST FINANCIAL CORP | Financials | 44.6K | $2.1M | 0.8% | New |
| UPS UNITED PARCEL SERVICE-CL B | Industrials | 20.7K | $2.0M | 0.8% | +290.7% |
| OVV OVINTIV INC | Energy | 34.3K | $2.0M | 0.8% | +60.3% |
| ACI ALBERTSONS COS INC - CLASS A | Consumer discretionary | 119.2K | $2.0M | 0.8% | +138.4% |
| ICE INTERCONTINENTAL EXCHANGE IN | Financials | 12.9K | $2.0M | 0.8% | New |
| AZO AUTOZONE INC | Consumer discretionary | 600 | $2.0M | 0.8% | +200.0% |
| STT STATE STREET CORP | Financials | 15.4K | $2.0M | 0.8% | +156.9% |
| JPM JPMORGAN CHASE & CO | Financials | 6.5K | $1.9M | 0.8% | +27.7% |
| CLX CLOROX COMPANY | Other | 18.1K | $1.9M | 0.7% | +122.8% |
| FND FLOOR & DECOR HOLDINGS INC-A | Consumer discretionary | 36.5K | $1.9M | 0.7% | +199.0% |
| COLB COLUMBIA BANKING SYSTEM INC | Financials | 66.5K | $1.8M | 0.7% | New |
| PG PROCTER & GAMBLE CO/THE | Other | 12.4K | $1.8M | 0.7% | New |
| ONB OLD NATIONAL BANCORP | Financials | 78.4K | $1.7M | 0.7% | +106.4% |
| HAL HALLIBURTON CO | Energy | 44.2K | $1.7M | 0.7% | New |
| SSB SOUTHSTATE BANK CORP | Financials | 18.1K | $1.7M | 0.7% | +86.6% |
| NDAQ NASDAQ INC | Financials | 19.7K | $1.7M | 0.7% | New |
| WHD CACTUS INC - A | Industrials | 34.0K | $1.6M | 0.6% | New |
| CBRE CBRE GROUP INC - A | Real estate | 11.9K | $1.6M | 0.6% | New |
| MDLZ MONDELEZ INTERNATIONAL INC-A | Consumer staples | 27.6K | $1.6M | 0.6% | +122.6% |
| SFNC SIMMONS FIRST NATL CORP-CL A | Financials | 78.6K | $1.5M | 0.6% | +191.2% |
| MS MORGAN STANLEY | Financials | 8.7K | $1.4M | 0.6% | New |
| COST COSTCO WHOLESALE CORP | Consumer discretionary | 1.4K | $1.4M | 0.6% | +75.6% |
| GDEN GOLDEN ENTERTAINMENT INC | — | 50.0K | $1.3M | 0.5% | +66.7% |
| BHF BRIGHTHOUSE FINANCIAL INC | Financials | 22.0K | $1.3M | 0.5% | +41.9% |
| FHN FIRST HORIZON CORP | Financials | 57.7K | $1.3M | 0.5% | +98.3% |
| T86 TRI POINTE HOMES INC | — | 26.0K | $1.2M | 0.5% | New |
| HO1 HOLOGIC INC | — | 16.0K | $1.2M | 0.5% | -15.8% |
| APLSUSD APELLIS PHARMACEUTICALS INC | — | 30.0K | $1.2M | 0.5% | New |
| OII OCEANEERING INTL INC | Energy | 32.8K | $1.2M | 0.5% | +2.5% |
| DKS DICK'S SPORTING GOODS INC | Consumer discretionary | 5.3K | $1.1M | 0.4% | New |
| IMXI INTERNATIONAL MONEY EXPRESS | Services media | 65.0K | $1.0M | 0.4% | Held |
| PEN PENUMBRA INC | Healthcare | 2.6K | $854K | 0.3% | New |
| SLAB SILICON LABORATORIES INC | Technology | 3.7K | $770K | 0.3% | New |
13F filing history
| Period | Form | Filed | Entries | Reported value | Flags | Source |
|---|---|---|---|---|---|---|
| Q1 2026 | 13F-HR | May 28, 2026 | 72 | $317.9M | canonical | SEC ↗ |
| Q4 2025 | 13F-HR | Feb 3, 2026 | 70 | $282.0M | canonical | SEC ↗ |
| Q3 2025 | 13F-HR | Nov 5, 2025 | 64 | $271.5M | canonical | SEC ↗ |
| Q2 2025 | 13F-HR | Aug 13, 2025 | 65 | $242.1M | canonical | SEC ↗ |
| Q1 2025 | 13F-HR | May 14, 2025 | 40 | $256.2M | canonical | SEC ↗ |
| Q4 2024 | 13F-HR | Feb 5, 2025 | 33 | $169.8M | canonical | SEC ↗ |
| Q3 2024 | 13F-HR | Nov 14, 2024 | 4 | $165.9M | canonical | SEC ↗ |
| Q2 2024 | 13F-HR | Aug 14, 2024 | 93 | $640.7M | canonical | SEC ↗ |
| Q1 2024 | 13F-HR | May 14, 2024 | 114 | $1.23B | canonical | SEC ↗ |