Carlson Capital, L.P.

CIK 1056973 · View on SEC EDGAR ↗

Portfolio value QoQ: +55.5% 13F does not disclose cash

Top 10 holdings weight44.80%

Top 25 holdings weight77.90%

Positions above 1%34

Effective number of positions32.0

Based on 13F long-equity holdings only (cash, bonds, shorts not disclosed)

Turnover Q2 2026: 60.15% Est. buys $419,066,209 · sells $244,291,974

Median holding: 2.0 quarters Tracked Q1 2025–Q2 2026 · 39.2% still held

New positions30

Increased32

Decreased10

Closed28

Put-notional exposure: 1.3% puts 13F reports option positions at underlying notional value — may include hedges, not necessarily bearish bets

Portfolio value $494.4M #3,869 of 9,337 by 13F value · top 41.4%

Positions 74

As of June 30, 2026 Data as of Q2 2026

Sector breakdown

Financials 51.0%

Energy 17.1%

Consumer products 6.5%

Retail 4.9%

Industrials 4.3%

Consumer Discretionary 3.8%

Consumer Staples 3.7%

Communication Services 2.5%

Real Estate 2.0%

Technology 1.8%

Healthcare 1.0%

Utilities 0.2%

Materials 0.1%

Other/Unmapped 1.1%

Full portfolio 74 positions

				Type		Streak
HBAN Huntington Bancshares Incorporated - Common Stock	$36,417,438	7.37%	2,054,001		$31,965,295	Up ×3
WFC Wells Fargo & Company Common Stock	$27,322,024	5.53%	330,615		$23,697,540	Up ×1
PNFP Pinnacle Financial Partners, Inc. - Common Stock	$26,182,193	5.30%	259,538		$21,002,250	Up ×1
COF Capital One Financial Corporation Common Stock	$24,647,170	4.99%	122,855			Up ×1
JPM JP Morgan Chase & Co. Common Stock	$22,351,729	4.52%	68,285		$20,435,277	Up ×3
PG Procter & Gamble Company (The) Common Stock	$21,253,122	4.30%	144,934		$19,462,066	Up ×1
BAC Bank of America Corporation Common Stock	$18,014,056	3.64%	316,147		$15,666,256	Up ×2
TFC Truist Financial Corporation Common Stock	$16,448,671	3.33%	330,162		$14,398,409	Up ×1
MCD McDonald's Corporation Common Stock	$15,130,873	3.06%	55,976			Up ×1
DVN Devon Energy Corporation Common Stock	$13,707,414	2.77%	331,738			Up ×1
FHN First Horizon Corporation Common Stock	$13,247,624	2.68%	516,678		$11,934,326	Up ×2
EXE Expand Energy Corporation - Common Stock	$12,603,735	2.55%	138,214		$9,998,216	Up ×1
PM Philip Morris International Inc Common Stock	$12,580,120	2.54%	69,538
HAL Halliburton Company Common Stock	$12,564,556	2.54%	370,090		$10,840,067	Up ×1
ONB Old National Bancorp - Common Stock	$12,021,718	2.43%	464,159		$10,288,128	Up ×4
SSB SouthState Bank Corporation Common Stock	$11,979,309	2.42%	119,913		$10,304,882	Up ×3
MA Mastercard Incorporated Common Stock	$11,594,520	2.35%	22,575			Up ×1
COLB Columbia Banking System, Inc. - Common Stock	$11,138,304	2.25%	347,529		$9,313,962	Up ×1
AR Antero Resources Corporation Common Stock	$10,930,824	2.21%	311,065
CVX Chevron Corporation Common Stock	$9,742,544	1.97%	58,775		$7,112,224	Up ×3
CBRE CBRE Group Inc Common Stock Class A	$9,582,789	1.94%	71,147		$7,973,253	Up ×1
MTDR Matador Resources Company Common Stock	$9,465,070	1.91%	190,138		$7,332,303	Up ×2
PSX Phillips 66 Common Stock	$9,361,144	1.89%	55,375		$7,219,254	Up ×2
UPS United Parcel Service, Inc. Common Stock	$8,538,940	1.73%	79,432		$6,501,884	Up ×2
CLX Clorox Company (The) Common Stock	$8,289,441	1.68%	86,855		$6,418,919	Up ×2
NSC Norfolk Southern Corporation Common Stock	$7,536,947	1.52%	23,958		$5,040,047	Up ×2
WMT Walmart Inc. - Common Stock	$6,719,036	1.36%	59,324
META Meta Platforms, Inc. - Class A Common Stock	$6,717,797	1.36%	11,926			Up ×1
FISV Fiserv, Inc. - Common Stock	$6,606,348	1.34%	134,686
SNPS Synopsys, Inc. - Common Stock	$6,336,424	1.28%	14,205
AZO AutoZone, Inc. Common Stock	$6,232,083	1.26%	1,950		$4,205,415	Up ×2
CRC California Resources Corporation Common Stock	$5,960,987	1.21%	112,748			Up ×1
MDLZ Mondelez International, Inc. - Class A Common Stock	$5,838,832	1.18%	100,948		$4,247,968	Up ×3
BURL Burlington Stores, Inc. Common Stock	$5,448,643	1.10%	17,199			Up ×1
ICE Intercontinental Exchange Inc. Common Stock	$4,501,886	0.91%	36,568		$2,472,974	Up ×1
ACI Albertsons Companies, Inc. Class A Common Stock	$4,125,811	0.83%	304,938		$2,094,643	Up ×5
SAIA Saia, Inc. - Common Stock	$3,273,256	0.66%	7,772			Up ×1
WBD Warner Bros. Discovery, Inc. - Series A Common Stock	$2,985,920	0.60%	112,000		$349,760	Up ×2
WBS Webster Financial Corporation Common Stock	$2,656,054	0.54%	34,756		$-51,326	Down ×1
NVDA NVIDIA Corporation - Common Stock	$2,640,788	0.53%	13,198
TLT iShares 20+ Year Treasury Bond ETF	$2,592,600	0.52%	30,000	Call option
EA Electronic Arts Inc. - Common Stock	$2,563,000	0.52%	12,500		$-189,245	Down ×1
JHG Janus Henderson Group plc Ordinary Shares	$1,974,100	0.40%	38,000		$792,590	Up ×1
APGE Apogee Therapeutics, Inc. - Common Stock	$1,858,220	0.38%	14,000			Up ×1
TLT iShares 20+ Year Treasury Bond ETF	$1,728,400	0.35%	20,000	Put option
TSLA Tesla, Inc. - Common Stock	$1,682,400	0.34%	4,000	Put option	$-176,350	Down ×1
CVNA Carvana Co. Class A Common Stock	$1,645,500	0.33%	25,000	Put option
IMXI International Money Express, Inc. - Common Stock	$1,603,950	0.32%	111,000		$576,950	Up ×1
BHF Brighthouse Financial, Inc. - Common Stock	$1,582,500	0.32%	25,000		$265,140	Up ×3
TMHC Taylor Morrison Home Corporation Common Stock	$1,363,060	0.28%	19,000			Up ×1
NUVL Nuvalent, Inc. - Class A Common Stock	$1,296,750	0.26%	10,500			Up ×1
PEN Penumbra, Inc. Common Stock	$978,825	0.20%	3,100		$125,063	Up ×1
WLFC Willis Lease Finance Corporation - Common Stock	$938,080	0.19%	4,100		$410,274	Up ×1
SGI Somnigroup International Inc. Common Stock	$912,576	0.18%	11,640			Up ×1
KBR KBR, Inc. Common Stock	$897,780	0.18%	26,000		$315,392	Up ×1
TXNM TXNM Energy, Inc. Common Stock	$851,700	0.17%	15,000			Up ×1
BRSL Brightstar Lottery PLC Trading under the Legal Name to begin at the market open on July 21, 2025. Ordinary Shares	$799,712	0.16%	74,600
HYG iShares Trust	$799,700	0.16%	10,000	Put option	$-57,279,100	Down ×3
CYTK Cytokinetics, Incorporated - Common Stock	$766,710	0.16%	9,000		$173,520
NCLH Norwegian Cruise Line Holdings Ltd. Ordinary Shares	$633,300	0.13%	30,000			Up ×1
RKT Rocket Companies, Inc. Class A Common Stock	$504,000	0.10%	32,000		$-30,375	Down ×1
BRBR BellRing Brands, Inc. Common Stock	$460,664	0.09%	35,600		$-199,026	Down ×1
AAUC Allied Gold Corporation Common Shares	$427,304	0.09%	18,000		$-191,408	Down ×1
QS QuantumScape Corporation - Common Stock	$378,000	0.08%	50,000	Put option	$-68,600	Down ×2
ELME Elme Communities Common Stock	$370,000	0.07%	250,000			Up ×1
AJG Arthur J. Gallagher & Co. Common Stock	$344,355	0.07%	1,500		$-2,173	Down ×1
Unknown issuer (CUSIP: 84615Q103)	$341,720	0.07%	2,000	Put option		Up ×1
MRSH Marsh Common Stock	$316,673	0.06%	1,900		$-12,882
WTW Willis Towers Watson Public Limited Company - Ordinary Shares	$313,644	0.06%	1,200		$-6,126	Up ×1
AON Aon plc Class A Ordinary Shares (Ireland)	$298,521	0.06%	900		$-56,537	Down ×1
SATS EchoStar Corporation - Common stock	$253,750	0.05%	2,500			Up ×1
LNSR LENSAR, Inc. - Common Stock	$114,200	0.02%	20,000			Up ×1
ANNA AleAnna, Inc. - Class A Common Stock	$87,000	0.02%	30,000
VGAS Verde Clean Fuels, Inc. - Class A Common Stock	$20,400	0.00%	20,000			Up ×1
No matches

Conviction holdings

Positions increased for 3+ consecutive quarters.

Share counts are as reported in 13F filings (not split-adjusted)

Security	Value	% of portfolio	Streak
HBAN	$36,417,438	7.37%	up ×3
JPM	$22,351,729	4.52%	up ×3
ONB	$12,021,718	2.43%	up ×4
SSB	$11,979,309	2.42%	up ×3
CVX	$9,742,544	1.97%	up ×3
MDLZ	$5,838,832	1.18%	up ×3
ACI	$4,125,811	0.83%	up ×5
BHF	$1,582,500	0.32%	up ×3

Biggest new bets

New positions opened this quarter, largest first.

Security	Value	Shares	% of portfolio
COF	$24,647,170	122,855	4.99%
MCD	$15,130,873	55,976	3.06%
DVN	$13,707,414	331,738	2.77%
PM	$12,580,120	69,538	2.54%
MA	$11,594,520	22,575	2.35%
AR	$10,930,824	311,065	2.21%
WMT	$6,719,036	59,324	1.36%
META	$6,717,797	11,926	1.36%
FISV	$6,606,348	134,686	1.34%
SNPS	$6,336,424	14,205	1.28%
CRC	$5,960,987	112,748	1.21%
BURL	$5,448,643	17,199	1.10%
SAIA	$3,273,256	7,772	0.66%
NVDA	$2,640,788	13,198	0.53%
TLT	$2,592,600	30,000	0.52%

Top movers (QoQ)

Security	Action	Shares Δ	Value Δ
EXE	Bought more	+114K	+$10.0M
MTDR	Bought more	+156K	+$7.3M
PSX	Bought more	+44K	+$7.2M
CVX	Bought more	+46K	+$7.1M
UPS	Bought more	+59K	+$6.5M
CLX	Bought more	+69K	+$6.4M
NSC	Bought more	+15K	+$5.0M
MDLZ	Bought more	+73K	+$4.2M
AZO	Bought more	+1K	+$4.2M
ICE	Bought more	+24K	+$2.5M

14 positions hidden — reported move looks larger than the position itself (data completeness check)

Exited positions

Includes corporate events (mergers, delistings) — not all exits are sells

Closed positions reflect 13F reporting changes; for index managers these are often mechanical (delisting, M&A, index rebalancing), not active decisions.

Security	Quarter	Shares before	Value before	Price since exit
SWKH	June 30, 2026	8,493,088	$144,467,427	No longer tracked
TLT	Dec. 31, 2025	110,000	$9,830,700
NVDA	Sept. 30, 2025	43,600	$6,888,364	28.2%
CFR	June 30, 2026	28,818	$3,950,371	-1.0%
K	Dec. 31, 2025	48,000	$3,936,960	No longer tracked
VRNA	Dec. 31, 2025	33,000	$3,521,430	No longer tracked
DFS	June 30, 2025	20,500	$3,499,350	No longer tracked
SEE	June 30, 2026	76,000	$3,195,800	No longer tracked
COOP	Dec. 31, 2025	15,000	$3,161,850	No longer tracked
HD	June 30, 2026	9,477	$3,116,891	-18.7%
HES	Sept. 30, 2025	22,000	$3,047,880	No longer tracked
ITCI	June 30, 2025	23,000	$3,034,160	No longer tracked
SOFI	June 30, 2026	190,000	$3,017,200	-12.1%
CVNA	March 31, 2026	7,000	$2,954,140	-79.7%
CYBR	March 31, 2026	6,600	$2,943,996	No longer tracked
SNV	March 31, 2026	54,300	$2,717,715	No longer tracked
FYBR	March 31, 2026	68,000	$2,588,760	No longer tracked
RDFN	Sept. 30, 2025	210,000	$2,349,900	No longer tracked
SLB	June 30, 2026	42,822	$2,200,623	7.6%
OVV	June 30, 2026	34,306	$2,036,404	16.8%
EXAS	March 31, 2026	20,000	$2,031,200	No longer tracked
RNA	March 31, 2026	28,000	$2,019,640	-40.2%
AZEK	Sept. 30, 2025	37,000	$2,010,950	No longer tracked
STT	June 30, 2026	15,413	$1,950,669	3.6%
FND	June 30, 2026	36,478	$1,853,082	-20.9%
WNS	Dec. 31, 2025	24,000	$1,830,480	No longer tracked
NDAQ	June 30, 2026	19,700	$1,672,333	17.1%
WHD	June 30, 2026	34,018	$1,611,433	25.3%
CCRN	Dec. 31, 2025	109,389	$1,553,324	No longer tracked
CDTX	March 31, 2026	7,000	$1,546,230	No longer tracked
SFNC	June 30, 2026	78,624	$1,529,237	-0.3%
GOOG	Sept. 30, 2025	8,600	$1,525,554	41.5%
MRUS	Dec. 31, 2025	16,000	$1,506,400	No longer tracked
PGRE	Dec. 31, 2025	230,000	$1,504,200	No longer tracked
ALEX	March 31, 2026	72,496	$1,496,317	No longer tracked
IBIT	March 31, 2026	30,000	$1,489,500
FITB	Sept. 30, 2025	36,000	$1,480,680	14.5%
SSB (filed as SSBXXXX)	Sept. 30, 2025	15,900	$1,463,277	2.1%
MS	June 30, 2026	8,682	$1,428,797	-8.6%
COST	June 30, 2026	1,405	$1,399,984	0.0%
GDEN	June 30, 2026	50,000	$1,334,500	No longer tracked
TPH	June 30, 2026	26,000	$1,214,980	No longer tracked
TXN	March 31, 2026	7,000	$1,214,430	53.1%
HOLX	June 30, 2026	16,000	$1,209,440	No longer tracked
APLS	June 30, 2026	30,000	$1,206,900	No longer tracked
OII	June 30, 2026	32,800	$1,163,416	11.0%
HAL	June 30, 2025	42,400	$1,075,688	60.5%
DKS	June 30, 2026	5,333	$1,057,481	-40.5%
MS	Dec. 31, 2025	6,500	$1,033,240	7.6%
GTLS	March 31, 2026	5,000	$1,031,150	No longer tracked
CMRX	June 30, 2025	114,000	$970,140	No longer tracked
CHX	June 30, 2025	32,000	$953,600	No longer tracked
AFRM	June 30, 2026	20,000	$916,400	-8.2%
TFC	Sept. 30, 2025	21,200	$911,388	1.2%
PEP	Sept. 30, 2025	6,700	$884,668	-10.5%
ANSS	Sept. 30, 2025	2,500	$878,050	No longer tracked
IWM	Sept. 30, 2025	4,000	$863,160	16.3%
CNI	Dec. 31, 2025	8,900	$839,270	19.8%
PNC	Sept. 30, 2025	4,400	$820,248	9.6%
EOG	March 31, 2026	7,700	$808,577	-0.2%
LW	March 31, 2026	19,200	$804,288	13.4%
LOW	Sept. 30, 2025	3,600	$798,732	-26.9%
PNC	March 31, 2026	3,800	$793,174	5.8%
MTDR	Sept. 30, 2025	16,400	$782,608	17.8%
PM	Dec. 31, 2025	4,800	$778,560	18.7%
RL	March 31, 2026	2,200	$777,942	7.2%
OMC	Dec. 31, 2025	9,540	$777,796	-7.0%
BOKF	Sept. 30, 2025	7,900	$771,277	15.0%
SLAB	June 30, 2026	3,700	$770,155	1.9%
XOM	June 30, 2025	6,300	$749,259	52.6%
BAC	June 30, 2025	17,900	$746,967	14.3%
SUNC	March 31, 2026	15,000	$739,200	No longer tracked
WMT	Sept. 30, 2025	7,500	$733,350	4.0%
MTB	Dec. 31, 2025	3,700	$731,194	8.6%
USB	Dec. 31, 2025	15,000	$724,950	7.4%
BRSL	Sept. 30, 2025	45,000	$711,450	-40.8%
XLE	March 31, 2026	15,500	$693,005	4.1%
FRGE	March 31, 2026	15,500	$690,680	No longer tracked
KRE	Dec. 31, 2025	10,900	$689,970
DNB	Sept. 30, 2025	75,000	$681,750	No longer tracked
TGT	Dec. 31, 2025	7,600	$681,720	57.9%
KNF	March 31, 2026	9,600	$675,360	-34.8%
MSFT	Dec. 31, 2025	1,300	$673,335	9.4%
FANG	March 31, 2026	4,400	$661,452	-6.5%
GPN	Sept. 30, 2025	8,100	$648,324	-1.6%
TERN	June 30, 2026	12,000	$632,640	No longer tracked
FAF	June 30, 2025	9,600	$630,048	1.5%
NVRI	March 31, 2026	35,000	$627,200	No longer tracked
SFNC	Sept. 30, 2025	32,900	$623,784	17.8%
FISV	Sept. 30, 2025	3,600	$620,676	-64.7%
DECK	Sept. 30, 2025	5,900	$608,113	-19.4%
FOLD	June 30, 2026	42,000	$607,320	No longer tracked
ROST	Sept. 30, 2025	4,700	$599,626	47.1%
BRSL	March 31, 2026	38,700	$599,076	-19.9%
BJ	Sept. 30, 2025	5,500	$593,065	2.5%
DLTR	June 30, 2025	7,800	$585,546	17.3%
MAGN	June 30, 2025	32,100	$582,936	-3.1%
ORLY	Sept. 30, 2025	6,400	$576,832	-21.0%
TIC	June 30, 2026	87,000	$572,460	9.4%
ZION	Sept. 30, 2025	10,800	$560,952	11.1%
AMTM	March 31, 2026	19,000	$551,000	-28.0%
AR	Dec. 31, 2025	15,900	$533,604	3.7%
LEG	June 30, 2026	53,000	$523,640	No longer tracked
EXE	Dec. 31, 2025	4,800	$509,952	-20.1%
AMTM	June 30, 2025	28,000	$509,600	-20.5%
FND	Sept. 30, 2025	6,700	$508,932	-36.3%
AD	March 31, 2026	9,400	$504,028	-25.6%
CSX	June 30, 2025	17,000	$500,310	45.6%
PZZA	June 30, 2026	15,000	$486,150	-46.8%
CAG	Dec. 31, 2025	26,300	$481,553	-22.3%
USB	June 30, 2025	10,800	$455,976	26.6%
COP	June 30, 2025	4,300	$451,586	44.1%
CLX	Sept. 30, 2025	3,700	$444,259	-32.3%
NGD	March 31, 2026	50,000	$435,500	No longer tracked
LOCO	March 31, 2026	40,000	$418,400	3.8%
CCL	Dec. 31, 2025	14,000	$404,740	-13.0%
NTRS	June 30, 2025	4,100	$404,465	33.7%
CARR	June 30, 2025	6,000	$380,400	-23.4%
SKX	Sept. 30, 2025	6,000	$378,600	No longer tracked
TDS	March 31, 2026	9,000	$369,000	-16.5%
MIDD	Dec. 31, 2025	2,600	$345,618	-28.8%
CVAC	Sept. 30, 2025	55,000	$298,650	No longer tracked
BILL	Dec. 31, 2025	5,600	$296,632	-19.4%
LION	March 31, 2026	30,000	$273,900	18.4%
MBC	Dec. 31, 2025	20,600	$271,302	-35.7%
ANNA	March 31, 2026	92,000	$264,583	-67.1%
LWAY	Sept. 30, 2025	10,000	$246,500	-26.3%
SNPS	Sept. 30, 2025	480	$246,086	2.4%
CKPT	June 30, 2025	60,000	$242,400	No longer tracked
AJG	Dec. 31, 2025	700	$216,818	-11.2%
SLDP	Dec. 31, 2025	60,000	$208,200	-44.7%
WTW	Dec. 31, 2025	600	$207,270	-11.1%
ENVX	Sept. 30, 2025	20,000	$206,800	-72.9%
MRSH	Dec. 31, 2025	1,000	$201,530	-7.4%
LWAY	June 30, 2026	10,000	$193,400	-31.4%
ALMS	Sept. 30, 2025	30,000	$90,000	73.7%
TRUE	March 31, 2026	32,007	$72,336	No longer tracked

Person profile: CARLSON CAPITAL L P