Carlson Capital, L.P.

In its 13F for Q4 2024 (holdings as of December 31, 2024, filed February 5, 2025), Carlson Capital, L.P. reported 32 stock positions worth $169.6 million. Its top holding was SWK (SWKH) at 79.4% of the portfolio, followed by Hess (HES, 2.3%) and Bank of America (BAC, 1.9%). Compared with Q3 2024, it opened 30 new positions, sold out of 2, added to 1 and reduced 1. The biggest buy was a new position in Bank of America (BAC) and the biggest sale SWK (SWKH, shares −7%).

Most Recent 13F
Q2 2026
Location
DALLAS, TX
CIK
0001056973
Portfolio Value
$169.6M (Q4 2024)
SEC Filing
0001056973-25-000003 ↗ filed Feb 5, 2025

Holdings Value

0$500.0M$1.0B$1.5B Q1 2024: $1.2B Q1 2024 Q2 2024: $640.4M Q2 2024 Q3 2024: $165.9M Q3 2024 Q4 2024: $169.6M $169.6M Q4 2024 Q1 2025: $179.0M Q1 2025 Q2 2025: $175.9M Q2 2025 Q3 2025: $176.5M Q3 2025 Q4 2025: $206.8M Q4 2025 Q1 2026: $253.1M Q1 2026 Q2 2026: $485.2M Q2 2026

Holdings 32 stocks · $169.6M
SWKH SWK Holdings Corp. filed as SWK HLDGS CORP 79.43% 8,493,088 $134.7M Reduce -6.6%
HES Hess Corp. 2.31% 29,400 $3.9M Add +194.0%
BAC Bank of America Corp. filed as BANK AMERICA CORP 1.94% 74,900 $3.3M New
HYG Ishr Ibx Usd Hiyld CB ETF-Ui 1.85% 40,000 $3.1M New
K Kellanova 1.67% 35,000 $2.8M New
HCP Hashicorp Inc. Class A 1.22% 60,700 $2.1M New
DFS Discover Financial Services 1.05% 10,300 $1.8M New
WFC Wells Fargo & Co. 0.87% 21,000 $1.5M New
USB US Bancorp 0.83% 29,400 $1.4M New
COP Conocophillips 0.77% 13,100 $1.3M New
BOKF Bok Financial Corporation 0.65% 10,300 $1.1M New
FHN First Horizon Corp. 0.64% 54,300 $1.1M New
MAGN Magnera Corp. 0.56% 52,530 $954K New
PTVE Pactiv Evergreen Inc. 0.55% 53,000 $926K New
UPS United Parcel Service Class B 0.48% 6,400 $807K New
XBI SS SPDR S&P Biotech ETF 0.46% 8,600 $775K New
ACI Albertsons Cos Inc. Class A 0.44% 38,000 $746K New
DVN Devon Energy Corp. 0.44% 22,700 $743K New
PNC PNC Financial Services Group 0.42% 3,700 $714K New
ALTM Arcadium Lithium PLC 0.36% 120,000 $616K New
LOW Lowe's Cos Inc. 0.33% 2,300 $568K New
RF Regions Financial Corp. 0.30% 21,400 $503K New
FITB Fifth Third Bancorp 0.29% 11,700 $495K New
UBS UBS Group AG-Reg 0.28% 15,700 $476K New
FANG Diamondback Energy Inc. 0.28% 2,900 $475K New
MSFT Microsoft Corp. 0.27% 1,100 $464K New
SFNC Simmons First Natl Corp. Class A 0.27% 20,900 $464K New
CTRA Coterra Energy Inc. 0.25% 16,900 $432K New
STT State Street Corp. 0.25% 4,300 $422K New
CIVI Civitas Resources Inc. 0.24% 8,800 $404K New
NVDA Nvidia Corp. 0.18% 2,300 $309K New
SLDP Solid Power Inc. 0.11% 99,900 $189K New

Options reported separately and not counted above: UPST puts ($201K).

Portfolio Sells Q3 2024 → Q4 2024
SWKH SWK Holdings Corp. Reduce -6.6% 79.43% −15.34
GLATFELTER CORP Sold out 0.00% −4.06
TFFP TFF Pharmaceuticals Inc. Sold out 0.00% −0.36

Portfolio Buys Q3 2024 → Q4 2024
BAC Bank of America Corp. New 1.94% +1.94
HYG Ishr Ibx Usd Hiyld CB ETF-Ui New 1.85% +1.85
K Kellanova New 1.67% +1.67
HES Hess Corp. Add +194.0% 2.31% +1.49
HCP Hashicorp Inc. Class A New 1.22% +1.22
DFS Discover Financial Services New 1.05% +1.05
WFC Wells Fargo & Co. New 0.87% +0.87
USB US Bancorp New 0.83% +0.83
COP Conocophillips New 0.77% +0.77
BOKF Bok Financial Corporation New 0.65% +0.65
FHN First Horizon Corp. New 0.64% +0.64
MAGN Magnera Corp. New 0.56% +0.56
PTVE Pactiv Evergreen Inc. New 0.55% +0.55
UPS United Parcel Service Class B New 0.48% +0.48
XBI SS SPDR S&P Biotech ETF New 0.46% +0.46
ACI Albertsons Cos Inc. Class A New 0.44% +0.44
DVN Devon Energy Corp. New 0.44% +0.44
PNC PNC Financial Services Group New 0.42% +0.42
ALTM Arcadium Lithium PLC New 0.36% +0.36
LOW Lowe's Cos Inc. New 0.33% +0.33
RF Regions Financial Corp. New 0.30% +0.30
FITB Fifth Third Bancorp New 0.29% +0.29
UBS UBS Group AG-Reg New 0.28% +0.28
FANG Diamondback Energy Inc. New 0.28% +0.28
MSFT Microsoft Corp. New 0.27% +0.27
SFNC Simmons First Natl Corp. Class A New 0.27% +0.27
CTRA Coterra Energy Inc. New 0.25% +0.25
STT State Street Corp. New 0.25% +0.25
CIVI Civitas Resources Inc. New 0.24% +0.24
NVDA Nvidia Corp. New 0.18% +0.18
SLDP Solid Power Inc. New 0.11% +0.11

Options Activity Q3 2024 → Q4 2024
UPST Upstart Holdings Inc. put New 300 $201K

Calls and puts are listed by the shares they cover; their value is not part of the stock holdings above.

All Filings

QuarterPositions13F Reported ValueTop Holdings
Q2 2026 67$485.2MHBAN, WFC, PNFP, COF, JPM
Q1 2026 66$253.1MSWKH, PNFP, HBAN, CFR, WFC
Q4 2025 62$206.8MSWKH, CYBR, SNV, FYBR, EA
Q3 2025 55$176.5MSWKH, K, VRNA, COOP, FYBR
Q2 2025 57$175.9MSWKH, K, HES, COOP, RDFN
Q1 2025 35$179.0MSWKH, HES, DFS, ITCI, K
Q4 2024 32$169.6MSWKH, HES, BAC, HYG, K
Q3 2024 4$165.9MSWKH, GLATFELTER CORP, HES, TFFP
Q2 2024 92$640.4MSWKH, HES, CFG, LEN, HUBS
Q1 2024 109$1.2BSWKH, HES, PXD, DOOR, CPRI