Carlson Capital Management

In its 13F for Q3 2024 (holdings as of September 30, 2024, filed November 13, 2024), Carlson Capital Management reported 115 stock positions worth $2.4 billion. Its top holding was Sequoia Global Value ETF (SFGV) at 40.3% of the portfolio, followed by Distillate US Fundamental St (DSTL, 13.2%) and Vanguard S/T Corp. Bond ETF (VCSH, 9.6%). Compared with Q2 2024, it opened 11 new positions, sold out of 2, added to 45 and reduced 38. The biggest buy was Vanguard Real Estate ETF (VNQ, shares +34%) and the biggest sale Dimensional US Real Est ETF (DFAR, shares −44%).

Most Recent 13F
Q4 2024
Location
NORTHFIELD, MN
CIK
0001581298
Portfolio Value
$2.4B (Q3 2024)
SEC Filing
0001581298-24-000005 ↗ filed Nov 13, 2024

Holdings Value

0$500.0M$1.0B$1.5B$2.0B$2.5B Q1 2024: $2.1B Q1 2024 Q2 2024: $2.1B Q2 2024 Q3 2024: $2.4B $2.4B Q3 2024 Q4 2024: $2.3B Q4 2024

Holdings 115 stocks · $2.4B
SFGV Sequoia Global Value ETF 40.26% 32,559,711 $948.2M Add +1.8%
DSTL Distillate US Fundamental St 13.22% 5,487,859 $311.3M Add +2.1%
VCSH Vanguard S/T Corp. Bond ETF 9.57% 2,838,109 $225.4M Add +3.3%
BSV Vanguard Short-Term Bond ETF 6.93% 2,074,903 $163.3M Add +8.4%
DIHP Dimensional International Hi 4.58% 3,896,138 $107.9M Add +2.2%
COWZ Pacer US Cash Cows 100 ETF 4.25% 1,731,824 $100.2M Add +5.8%
AVUV Avantis US Small Cap Value 3.16% 775,134 $74.4M Add +8.9%
DFEM Dimensional Emrg MRKT Core 2.67% 2,234,055 $62.9M Add +10.8%
VTI VG Morningstar TS MKT ETF-US 2.02% 168,394 $47.7M Add +14.2%
ICOW Pacer Developed Markets Inte 1.94% 1,447,306 $45.8M Add +2.2%
AVDV Avantis Intl S/C Value ETF 1.69% 564,707 $39.9M Add +4.5%
VNQ Vanguard Real Estate ETF 1.14% 275,854 $26.9M Add +34.4%
VEA Vanguard Ftse Developed ETF 0.89% 394,706 $20.8M Add +6.4%
VGSH Vanguard Short-Term Treasury 0.74% 296,867 $17.5M Reduce -1.3%
UNH Unitedhealth Group Inc. 0.69% 27,939 $16.3M Reduce -1.3%
ACN Accenture PLC Class A 0.47% 31,181 $11.0M Reduce -0.4%
AAPL Apple Inc. 0.45% 45,114 $10.5M Add +20.5%
MSFT Microsoft Corp. 0.36% 19,611 $8.4M Add +1.2%
MMM 3M Co. 0.35% 60,436 $8.3M Reduce -6.8%
VV Vngrd Mrgstr LRG-Cap ETF-Usd 0.35% 31,106 $8.2M Reduce -1.1%
AVRE Avantis Real Estate ETF 0.28% 141,910 $6.7M Reduce -20.3%
DFAT Dimensional US Target Value 0.24% 103,121 $5.7M Add +13.3%
IQLT iShares MSCI International Q 0.20% 115,540 $4.8M Reduce -1.4%
SHW The Sherwin-Williams Co. 0.17% 10,547 $4.0M Reduce -12.1%
AVEM Avantis Emerging Markets Eq 0.17% 60,676 $3.9M Reduce -10.0%
DFIV Dimensional International Va 0.15% 92,495 $3.5M Add +8.6%
IAU iShares Gold Trust 0.12% 57,234 $2.8M No change
DUHP Dimensional US High Profi Et 0.12% 80,729 $2.8M Reduce -12.5%
DFAR Dimensional US Real Est ETF 0.11% 105,142 $2.7M Reduce -43.9%
HBAN Huntington Bancshares Inc. 0.10% 162,883 $2.4M No change
GGG Graco Inc. 0.10% 26,499 $2.3M No change
VWO Vanguard Ftse Emerging Marke 0.10% 46,817 $2.2M Add +2.5%
BRK.B Berkshire Hathaway Inc. Class B 0.10% 4,863 $2.2M Add +3.5%
DFSU Dimensional US Sus CORE1 ETF 0.09% 59,381 $2.2M Add +78.5%
TSLA Tesla Inc. 0.09% 8,394 $2.2M Reduce -27.3%
LLY Eli Lilly & Co. 0.09% 2,449 $2.2M Add +2.4%
AMZN Amazon.com Inc. 0.07% 9,468 $1.8M Add +2.0%
DFUV Dimensional US Marketwide Va 0.07% 37,065 $1.5M Reduce -8.7%
VIG Vanguard Dividend Apprec ETF 0.06% 6,811 $1.3M Add +0.3%
VTV Vanguard Mrngstr Val ETF-Aui 0.06% 7,472 $1.3M Reduce -3.7%
IWO iShares Russell 2000 Growth 0.05% 4,501 $1.3M No change
AVGO Broadcom Inc. 0.05% 6,982 $1.2M Add +5.8%
ABNB Airbnb Inc. Class A 0.05% 8,832 $1.1M Reduce -0.3%
HON Honeywell International Inc. 0.05% 5,365 $1.1M No change
HRB H&R Block Inc. filed as BLOCK H & R INC 0.05% 17,400 $1.1M No change
XOM Exxon Mobil Corp. 0.05% 9,429 $1.1M Reduce -2.0%
IEFA iShares Core MSCI Eafe ETF 0.05% 13,721 $1.1M Reduce -0.3%
NVDA Nvidia Corp. 0.04% 8,708 $1.1M Add +50.4%
VBR Vngrd Mrngst SL-CP Val ETF-U 0.04% 5,265 $1.1M Reduce -0.1%
META Meta Platforms Inc. Class A 0.04% 1,778 $1.0M Add +3.1%
TGT Target Corp. 0.04% 6,301 $982K Add +0.5%
GOOGL Alphabet Inc. Class A 0.04% 5,725 $949K Add +7.5%
ABT Abbott Laboratories 0.04% 8,242 $940K Add +8.1%
FUL H.B. Fuller Co. filed as FULLER H B CO 0.04% 11,751 $933K Add +0.1%
VB Vanguard Most SM-Cap ETF-Usd 0.04% 3,720 $882K Reduce -1.6%
DFSI Dimensional Int Sus COR1 ETF 0.03% 22,931 $819K Add +29.2%
QQQ Invesco QQQ Trust Series 1 0.03% 1,677 $819K Add +6.9%
MCK McKesson Corp. 0.03% 1,630 $806K Reduce -0.2%
SUB iShares Short-Term National 0.03% 7,434 $789K Add +14.0%
GOOG Alphabet Inc. Class C 0.03% 4,711 $788K Reduce -0.6%
SOLV Solventum Corp. 0.03% 10,927 $762K Reduce -30.9%
COST Costco Wholesale Corp. 0.03% 845 $749K Add +8.2%
SPY SS SPDR S&P 500 ETF Trust-US 0.03% 1,296 $744K No change
SCHX Schwab US Large-Cap ETF 0.03% 10,464 $710K Reduce -5.0%
CHRW C.H. Robinson Worldwide Inc. 0.03% 5,962 $658K No change
DHR Danaher Corp. 0.03% 2,364 $657K Reduce -0.4%
ITOT iShares Core S&P Total U.S. 0.03% 5,181 $651K Reduce -13.1%
PEP Pepsico Inc. 0.03% 3,719 $632K Add +16.8%
USB US Bancorp 0.03% 13,684 $626K No change
BSX Boston Scientific Corp. 0.03% 7,396 $620K No change
DLS Wisdomtree Intl S/C DVD Fund 0.03% 8,828 $610K Reduce -17.0%
WMT Walmart Inc. 0.03% 7,499 $606K Add +1.8%
WFC Wells Fargo & Co. 0.03% 10,646 $601K Reduce -6.6%
JNJ Johnson & Johnson 0.02% 3,439 $557K Reduce -2.5%
BMI Badger Meter Inc. 0.02% 2,550 $557K No change
WTV Wisdomtree U.S. Value Fund 0.02% 6,317 $505K Reduce -12.2%
VUG Vanguard Mrngstar GR ETF-Sui 0.02% 1,297 $498K No change
DFAS Dimensional US Small Cap ETF 0.02% 7,581 $492K Reduce -17.9%
MAR Marriott International Class A 0.02% 1,970 $490K Add +0.2%
IVV iShares Core S&P 500 ETF 0.02% 830 $479K New
CVX Chevron Corp. 0.02% 3,144 $463K Add +94.2%
SCHF Schwab Intl Equity ETF 0.02% 10,970 $451K Reduce -14.9%
EFV iShares MSCI Eafe Value ETF 0.02% 7,720 $444K No change
SLYV SS SPDR S&P 600 SC Val ETF 0.02% 4,871 $423K No change
UNP Union Pacific Corp. 0.02% 1,509 $372K Add +1.8%
AHR American Healthcare REIT Inc. 0.02% 14,227 $371K New
QUAL iShares MSCI USA Quality Fac 0.02% 2,062 $370K No change
DFSE Dimensional Em Sus CORE1 ETF 0.02% 10,403 $368K Add +66.0%
IYT iShares US Transportation Et 0.01% 4,923 $339K No change
USIG iShares Broad Usd Investment 0.01% 6,211 $327K New
ABBV Abbvie Inc. 0.01% 1,575 $311K New
FAST Fastenal Co. 0.01% 4,246 $303K No change
DSTX Distillate International Fun 0.01% 11,280 $291K Reduce -3.6%
DFUS Dimensional US Eq MKT ETF 0.01% 4,434 $276K Add +0.1%
GWX State Street SPDR S&P Intern 0.01% 8,009 $273K Reduce -8.0%
DE Deere & Co. 0.01% 625 $261K New
LMT Lockheed Martin Corp. 0.01% 444 $259K No change
IBM Intl Business Machines Corp. filed as INTERNATIONAL BUSINESS MACHS 0.01% 1,141 $252K New
MCD McDonald's Corp. 0.01% 827 $252K Add +5.2%
XEL Xcel Energy Inc. 0.01% 3,851 $251K Add +0.7%
JEF Jefferies Financial Group Inc. 0.01% 4,000 $246K New
GLD SPDR Gold Shares 0.01% 990 $241K No change
SCHO Schwab Short-Term US Treas 0.01% 4,817 $236K No change
ACWV iShares MSCI Global Min Vol 0.01% 2,055 $235K New
V Visa Inc. Class A 0.01% 842 $232K Add +3.1%
VOO Vanguard S&P 500 ETF 0.01% 434 $229K Reduce -15.4%
SCHG Schwab US Large-Cap Growth 0.01% 2,100 $219K Reduce -0.8%
JPM JPMorgan Chase & Co. 0.01% 1,023 $216K Reduce -2.2%
PG The Procter & Gamble Co. 0.01% 1,244 $215K New
IDEV iShares Core MSCI Dev MKTS 0.01% 3,033 $215K New
OXY Occidental Petroleum Corp. 0.01% 3,959 $204K Reduce -0.0%
NOW ServiceNow Inc. 0.01% 224 $200K New
NOMD Nomad Foods Ltd. 0.01% 10,000 $191K No change
IBRX Immunitybio Inc. 0.00% 19,000 $71K Add +2.1%
AMARIN CORP PLC 0.00% 21,188 $13K Reduce -0.5%

Portfolio Sells Q2 2024 → Q3 2024
DFAR Dimensional US Real Est ETF Reduce -43.9% 0.11% −0.08
VGSH Vanguard Short-Term Treasury Reduce -1.3% 0.74% −0.08
AVRE Avantis Real Estate ETF Reduce -20.3% 0.28% −0.06
AVEM Avantis Emerging Markets Eq Reduce -10.0% 0.17% −0.03
DUHP Dimensional US High Profi Et Reduce -12.5% 0.12% −0.02
VV Vngrd Mrgstr LRG-Cap ETF-Usd Reduce -1.1% 0.35% −0.02
ABNB Airbnb Inc. Class A Reduce -0.3% 0.05% −0.02
TSLA Tesla Inc. Reduce -27.3% 0.09% −0.01
IQLT iShares MSCI International Q Reduce -1.4% 0.20% −0.01
SMCI Super Micro Computer Inc. Sold out 0.00% −0.01
MCK McKesson Corp. Reduce -0.2% 0.03% −0.01
PGR Progressive Corp. Sold out 0.00% −0.01
DFUV Dimensional US Marketwide Va Reduce -8.7% 0.07% −0.01
GOOG Alphabet Inc. Class C Reduce -0.6% 0.03% −0.01
SOLV Solventum Corp. Reduce -30.9% 0.03% −0.01
WFC Wells Fargo & Co. Reduce -6.6% 0.03% −0.01
DLS Wisdomtree Intl S/C DVD Fund Reduce -17.0% 0.03% −0.01
ITOT iShares Core S&P Total U.S. Reduce -13.1% 0.03% −0.01
DFAS Dimensional US Small Cap ETF Reduce -17.9% 0.02% −0.01
XOM Exxon Mobil Corp. Reduce -2.0% 0.05% −0.01
SCHF Schwab Intl Equity ETF Reduce -14.9% 0.02% −0.00
WTV Wisdomtree U.S. Value Fund Reduce -12.2% 0.02% −0.00
SCHX Schwab US Large-Cap ETF Reduce -5.0% 0.03% −0.00
VTV Vanguard Mrngstr Val ETF-Aui Reduce -3.7% 0.06% −0.00
OXY Occidental Petroleum Corp. Reduce -0.0% 0.01% −0.00
VOO Vanguard S&P 500 ETF Reduce -15.4% 0.01% −0.00
IEFA iShares Core MSCI Eafe ETF Reduce -0.3% 0.05% −0.00
GWX State Street SPDR S&P Intern Reduce -8.0% 0.01% −0.00
VB Vanguard Most SM-Cap ETF-Usd Reduce -1.6% 0.04% −0.00
JPM JPMorgan Chase & Co. Reduce -2.2% 0.01% −0.00
SCHG Schwab US Large-Cap Growth Reduce -0.8% 0.01% −0.00
JNJ Johnson & Johnson Reduce -2.5% 0.02% −0.00
DSTX Distillate International Fun Reduce -3.6% 0.01% −0.00
VBR Vngrd Mrngst SL-CP Val ETF-U Reduce -0.1% 0.04% −0.00
AMARIN CORP PLC Reduce -0.5% 0.00% −0.00
DHR Danaher Corp. Reduce -0.4% 0.03% 0.00
SHW The Sherwin-Williams Co. Reduce -12.1% 0.17% +0.00
UNH Unitedhealth Group Inc. Reduce -1.3% 0.69% +0.01
ACN Accenture PLC Class A Reduce -0.4% 0.47% +0.02
MMM 3M Co. Reduce -6.8% 0.35% +0.04

Portfolio Buys Q2 2024 → Q3 2024
VNQ Vanguard Real Estate ETF Add +34.4% 1.14% +0.33
DSTL Distillate US Fundamental St Add +2.1% 13.22% +0.22
VTI VG Morningstar TS MKT ETF-US Add +14.2% 2.02% +0.17
AVUV Avantis US Small Cap Value Add +8.9% 3.16% +0.15
DFEM Dimensional Emrg MRKT Core Add +10.8% 2.67% +0.13
AAPL Apple Inc. Add +20.5% 0.45% +0.07
COWZ Pacer US Cash Cows 100 ETF Add +5.8% 4.25% +0.05
AVDV Avantis Intl S/C Value ETF Add +4.5% 1.69% +0.04
DFSU Dimensional US Sus CORE1 ETF Add +78.5% 0.09% +0.04
VEA Vanguard Ftse Developed ETF Add +6.4% 0.89% +0.02
DFAT Dimensional US Target Value Add +13.3% 0.24% +0.02
IVV iShares Core S&P 500 ETF New 0.02% +0.02
BSV Vanguard Short-Term Bond ETF Add +8.4% 6.93% +0.02
AHR American Healthcare REIT Inc. New 0.02% +0.02
USIG iShares Broad Usd Investment New 0.01% +0.01
ABBV Abbvie Inc. New 0.01% +0.01
NVDA Nvidia Corp. Add +50.4% 0.04% +0.01
DE Deere & Co. New 0.01% +0.01
IBM Intl Business Machines Corp. New 0.01% +0.01
JEF Jefferies Financial Group Inc. New 0.01% +0.01
ACWV iShares MSCI Global Min Vol New 0.01% +0.01
IDEV iShares Core MSCI Dev MKTS New 0.01% +0.01
PG The Procter & Gamble Co. New 0.01% +0.01
NOW ServiceNow Inc. New 0.01% +0.01
CVX Chevron Corp. Add +94.2% 0.02% +0.01
DFSI Dimensional Int Sus COR1 ETF Add +29.2% 0.03% +0.01
DFSE Dimensional Em Sus CORE1 ETF Add +66.0% 0.02% +0.01
DFIV Dimensional International Va Add +8.6% 0.15% +0.01
BRK.B Berkshire Hathaway Inc. Class B Add +3.5% 0.10% +0.01
ABT Abbott Laboratories Add +8.1% 0.04% +0.00
META Meta Platforms Inc. Class A Add +3.1% 0.04% +0.00
WMT Walmart Inc. Add +1.8% 0.03% +0.00
PEP Pepsico Inc. Add +16.8% 0.03% +0.00
SUB iShares Short-Term National Add +14.0% 0.03% +0.00
MCD McDonald's Corp. Add +5.2% 0.01% +0.00
AVGO Broadcom Inc. Add +5.8% 0.05% +0.00
XEL Xcel Energy Inc. Add +0.7% 0.01% +0.00
VWO Vanguard Ftse Emerging Marke Add +2.5% 0.10% +0.00
COST Costco Wholesale Corp. Add +8.2% 0.03% +0.00
UNP Union Pacific Corp. Add +1.8% 0.02% 0.00
V Visa Inc. Class A Add +3.1% 0.01% −0.00
DFUS Dimensional US Eq MKT ETF Add +0.1% 0.01% −0.00
QQQ Invesco QQQ Trust Series 1 Add +6.9% 0.03% −0.00
VIG Vanguard Dividend Apprec ETF Add +0.3% 0.06% −0.00
MAR Marriott International Class A Add +0.2% 0.02% −0.00
TGT Target Corp. Add +0.5% 0.04% −0.00
IBRX Immunitybio Inc. Add +2.1% 0.00% −0.00
FUL H.B. Fuller Co. Add +0.1% 0.04% −0.00
GOOGL Alphabet Inc. Class A Add +7.5% 0.04% −0.01
AMZN Amazon.com Inc. Add +2.0% 0.07% −0.01

All Filings

QuarterPositions13F Reported ValueTop Holdings
Q4 2024 112$2.3BSFGV, DSTL, VCSH, BSV, DIHP
Q3 2024 115$2.4BSFGV, DSTL, VCSH, BSV, DIHP
Q2 2024 106$2.1BSFGV, DSTL, VCSH, BSV, DIHP
Q1 2024 102$2.1BSFGV, DSTL, VCSH, BSV, DIHP