Carlson Capital, L.P.

All Holdings — 2025 Q4

AI Portfolio Summary
In 2025 Q4, Carlson Capital, L.P. maintained a portfolio of 100 distinct positions. The most significant new addition to the portfolio was CARVANA CO, which now represents 1.05% of the total fund value. They heavily accumulated shares in AFFIRM HLDGS INC, increasing their position by 100.0%. Conversely, Carlson Capital, L.P. completely exited their position in ISHARES TR.
PCA Score Concentration Risk
Risk ENB
Total Positions
100
Quarter
2025 Q4
Top Holding
SWKH (51.8%)
Top 10 Concentration
81.6%
Turnover Rate
23.4%
Sector HHI
0.18
Items per page:
1-25 of 100
Stock History Sector / Type Port % Prev % Rank / Prev Conviction Change % Change Influence Shares Mkt Value Avg Cost Price Held 1st Owned Source Source Date Date Reported
SWKH
SWK HLDGS CORP
Financial Services 51.79% 45.61% #1
Prev: #1
10.0 no change no change
P
S
8,493,088 $146,081,114 2020 Q1 13F Filing 2025-12-31 2026-02-14 (Est.)
HYG
ISHARES TR
PUT
PUT Option 21.73% 26.97% #2
Prev: #2
8.7 -140,000 -15.6%
P
S
760,000 $61,278,800 2011 Q4 13F Filing 2025-12-31 2026-02-14 (Est.)
AFRM
AFFIRM HLDGS IN...
PUT
PUT Option 1.58% 0.81% #3 7
Prev: #10
2.9 30,000 100.0%
P
S
60,000 $4,465,800 2025 Q1 13F Filing 2025-12-31 2026-02-14 (Est.)
CVNA
CARVANA CO
PUT
PUT Option 1.05% #4
Prev: #—
2.4 7,000 no change
NEW
7,000 $2,954,140 2025 Q4 13F Filing 2025-12-31 2026-02-14 (Est.)
CYBR
CYBERARK SOFTWA...
Technology 1.04% 0.80% #5 6
Prev: #11
2.6 2,100 46.7%
P
S
6,600 $2,943,996 2017 Q1 13F Filing 2025-12-31 2026-02-14 (Est.)
SNV
SYNOVUS FINL CO...
Financial Services 0.96% 0.70% #6 6
Prev: #12
2.5 15,900 41.4%
P
S
54,300 $2,717,715 2016 Q4 13F Filing 2025-12-31 2026-02-14 (Est.)
FYBR
FRONTIER COMMUN...
Communication Services 0.92% 0.84% #7 2
Prev: #9
2.4 7,000 11.5%
P
S
68,000 $2,588,760 2025 Q2 13F Filing 2025-12-31 2026-02-14 (Est.)
EA
ELECTRONIC ARTS...
Communication Services 0.87% 0.63% #8 7
Prev: #15
2.5 3,500 41.2%
P
S
12,000 $2,451,960 2002 Q4 13F Filing 2025-12-31 2026-02-14 (Est.)
SOFI
SOFI TECHNOLOGI...
PUT
PUT Option 0.84% 0.63% #9 5
Prev: #14
2.4 25,000 38.5%
P
S
90,000 $2,356,200 2025 Q1 13F Filing 2025-12-31 2026-02-14 (Est.)
SEE
SEALED AIR CORP...
Consumer Cyclical 0.79% #10
Prev: #—
2.3 54,000 no change
NEW
54,000 $2,237,220 2004 Q1 13F Filing 2025-12-31 2026-02-14 (Est.)
EXAS
EXACT SCIENCES ...
Healthcare 0.72% #11
Prev: #—
2.3 20,000 no change
NEW
20,000 $2,031,200 2015 Q3 13F Filing 2025-12-31 2026-02-14 (Est.)
RNA
AVIDITY BIOSCIE...
Healthcare 0.72% #12
Prev: #—
2.3 28,000 no change
NEW
28,000 $2,019,640 2025 Q4 13F Filing 2025-12-31 2026-02-14 (Est.)
HBAN
HUNTINGTON BANC...
Financial Services 0.69% 0.26% #13 29
Prev: #42
2.6 71,900 178.0%
P
S
112,300 $1,948,405 1999 Q4 13F Filing 2025-12-31 2026-02-14 (Est.)
CFR
CULLEN FROST BA...
Financial Services 0.59% 0.51% #14 5
Prev: #19
2.3 2,200 20.2%
P
S
13,100 $1,658,853 1999 Q4 13F Filing 2025-12-31 2026-02-14 (Est.)
NSC
NORFOLK SOUTHN ...
Industrials 0.58% #15
Prev: #—
2.2 5,700 no change
NEW
5,700 $1,645,704 2002 Q1 13F Filing 2025-12-31 2026-02-14 (Est.)
JPM
JPMORGAN CHASE ...
Financial Services 0.58% 0.48% #16 4
Prev: #20
2.3 1,000 24.4%
P
S
5,100 $1,643,322 2000 Q2 13F Filing 2025-12-31 2026-02-14 (Est.)
CDTX
CIDARA THERAPEU...
Healthcare 0.55% #17
Prev: #—
2.2 7,000 no change
NEW
7,000 $1,546,230 2025 Q4 13F Filing 2025-12-31 2026-02-14 (Est.)
ALEX
ALEXANDER & BAL...
Real Estate 0.53% #18
Prev: #—
2.2 72,496 no change
NEW
72,496 $1,496,317 2025 Q4 13F Filing 2025-12-31 2026-02-14 (Est.)
IBIT
ISHARES BITCOIN...
CALL
CALL Option 0.53% #19
Prev: #—
2.2 30,000 no change
NEW
30,000 $1,489,500 2025 Q4 13F Filing 2025-12-31 2026-02-14 (Est.)
CVX
CHEVRON CORP NE...
Energy 0.51% 0.26% #20 21
Prev: #41
2.5 5,000 111.1%
P
S
9,500 $1,447,895 2002 Q1 13F Filing 2025-12-31 2026-02-14 (Est.)
HOLX
HOLOGIC INC
Healthcare 0.50% #21
Prev: #—
2.2 19,000 no change
NEW
19,000 $1,415,310 2025 Q4 13F Filing 2025-12-31 2026-02-14 (Est.)
TXN
TEXAS INSTRS IN...
Technology 0.43% 0.33% #22 4
Prev: #26
2.3 2,200 45.8%
P
S
7,000 $1,214,430 2002 Q4 13F Filing 2025-12-31 2026-02-14 (Est.)
WBD
WARNER BROS DIS...
Communication Services 0.41% #23
Prev: #—
2.2 40,000 no change
NEW
40,000 $1,152,800 2025 Q4 13F Filing 2025-12-31 2026-02-14 (Est.)
QS
QUANTUMSCAPE CO...
PUT
PUT Option 0.41% 0.45% #24 3
Prev: #21
2.2 10,000 10.0%
P
S
110,000 $1,146,200 2021 Q3 13F Filing 2025-12-31 2026-02-14 (Est.)
GTLS
CHART INDS INC
Industrials 0.37% #25
Prev: #—
2.1 5,000 no change
NEW
5,000 $1,031,150 2025 Q4 13F Filing 2025-12-31 2026-02-14 (Est.)
TLT
ISHARES TR
PUT
PUT Option 0.00% 2.31%
Sold All 😨
(Was: #3)
0.3 -70,000 -100.0%
CLOSED
$— 2023 Q3 13F Filing 2025-12-31 2026-02-14 (Est.)
K
KELLANOVA
Consumer Defensive 0.00% 1.45%
Sold All 😨
(Was: #5)
0.3 -48,000 -100.0%
CLOSED
$— 2000 Q4 13F Filing 2025-12-31 2026-02-14 (Est.)
TLT
ISHARES TR
CALL
CALL Option 0.00% 1.32%
Sold All 😨
(Was: #6)
0.3 -40,000 -100.0%
CLOSED
$— 2023 Q3 13F Filing 2025-12-31 2026-02-14 (Est.)
VRNA
VERONA PHARMA P...
Unknown 0.00% 1.30%
Sold All 😨
(Was: #7)
0.3 -33,000 -100.0%
CLOSED
$— 2025 Q3 13F Filing 2025-12-31 2026-02-14 (Est.)
COOP
MR COOPER GROUP...
Unknown 0.00% 1.17%
Sold All 😨
(Was: #8)
0.3 -15,000 -100.0%
CLOSED
$— 2018 Q4 13F Filing 2025-12-31 2026-02-14 (Est.)
WNS
WNS HLDGS LTD
Unknown 0.00% 0.68%
Sold All 😨
(Was: #13)
0.3 -24,000 -100.0%
CLOSED
$— 2025 Q3 13F Filing 2025-12-31 2026-02-14 (Est.)
CCRN
CROSS CTRY HEAL...
Healthcare 0.00% 0.57%
Sold All 😨
(Was: #16)
0.3 -109,389 -100.0%
CLOSED
$— 2007 Q2 13F Filing 2025-12-31 2026-02-14 (Est.)
MRUS
MERUS N V
Healthcare 0.00% 0.56%
Sold All 😨
(Was: #17)
0.3 -16,000 -100.0%
CLOSED
$— 2025 Q3 13F Filing 2025-12-31 2026-02-14 (Est.)
PGRE
PARAMOUNT GROUP...
Real Estate 0.00% 0.56%
Sold All 😨
(Was: #18)
0.3 -230,000 -100.0%
CLOSED
$— 2025 Q3 13F Filing 2025-12-31 2026-02-14 (Est.)
MS
MORGAN STANLEY
Financial Services 0.00% 0.38%
Sold All 😨
(Was: #22)
0.3 -6,500 -100.0%
CLOSED
$— 2001 Q1 13F Filing 2025-12-31 2026-02-14 (Est.)
CNI
CANADIAN NATL R...
Industrials 0.00% 0.31%
Sold All 😨
(Was: #29)
0.3 -8,900 -100.0%
CLOSED
$— 2002 Q3 13F Filing 2025-12-31 2026-02-14 (Est.)
PM
PHILIP MORRIS I...
Consumer Defensive 0.00% 0.29%
Sold All 😨
(Was: #34)
0.3 -4,800 -100.0%
CLOSED
$— 2008 Q2 13F Filing 2025-12-31 2026-02-14 (Est.)
OMC
OMNICOM GROUP I...
Communication Services 0.00% 0.29%
Sold All 😨
(Was: #35)
0.3 -9,540 -100.0%
CLOSED
$— 2002 Q2 13F Filing 2025-12-31 2026-02-14 (Est.)
MTB
M & T BK CORP
Financial Services 0.00% 0.27%
Sold All 😨
(Was: #37)
0.3 -3,700 -100.0%
CLOSED
$— 2004 Q3 13F Filing 2025-12-31 2026-02-14 (Est.)
USB
US BANCORP DEL
Financial Services 0.00% 0.27%
Sold All 😨
(Was: #39)
0.3 -15,000 -100.0%
CLOSED
$— 1999 Q1 13F Filing 2025-12-31 2026-02-14 (Est.)
KRE
SPDR SERIES TRU...
Unknown 0.00% 0.25%
Sold All 😨
(Was: #43)
0.3 -10,900 -100.0%
CLOSED
$— 2009 Q2 13F Filing 2025-12-31 2026-02-14 (Est.)
TGT
TARGET CORP
Consumer Defensive 0.00% 0.25%
Sold All 😨
(Was: #44)
0.3 -7,600 -100.0%
CLOSED
$— 2003 Q1 13F Filing 2025-12-31 2026-02-14 (Est.)
MSFT
MICROSOFT CORP
Technology 0.00% 0.25%
Sold All 😨
(Was: #45)
0.3 -1,300 -100.0%
CLOSED
$— 1999 Q3 13F Filing 2025-12-31 2026-02-14 (Est.)
AR
ANTERO RESOURCE...
Energy 0.00% 0.20%
Sold All 😨
(Was: #48)
0.3 -15,900 -100.0%
CLOSED
$— 1999 Q3 13F Filing 2025-12-31 2026-02-14 (Est.)
EXE
EXPAND ENERGY C...
Energy 0.00% 0.19%
Sold All 😨
(Was: #50)
0.3 -4,800 -100.0%
CLOSED
$— 2021 Q4 13F Filing 2025-12-31 2026-02-14 (Est.)
CAG
CONAGRA BRANDS ...
Consumer Defensive 0.00% 0.18%
Sold All 😨
(Was: #51)
0.3 -26,300 -100.0%
CLOSED
$— 2004 Q2 13F Filing 2025-12-31 2026-02-14 (Est.)
CCL
CARNIVAL CORP
Consumer Cyclical 0.00% 0.15%
Sold All 😨
(Was: #52)
0.3 -14,000 -100.0%
CLOSED
$— 2003 Q1 13F Filing 2025-12-31 2026-02-14 (Est.)
MIDD
MIDDLEBY CORP
Industrials 0.00% 0.13%
Sold All 😨
(Was: #54)
0.3 -2,600 -100.0%
CLOSED
$— 2025 Q3 13F Filing 2025-12-31 2026-02-14 (Est.)
BILL
BILL HOLDINGS I...
Technology 0.00% 0.11%
Sold All 😨
(Was: #55)
0.3 -5,600 -100.0%
CLOSED
$— 2025 Q3 13F Filing 2025-12-31 2026-02-14 (Est.)
MBC
MASTERBRAND INC
Consumer Cyclical 0.00% 0.10%
Sold All 😨
(Was: #56)
0.3 -20,600 -100.0%
CLOSED
$— 2025 Q3 13F Filing 2025-12-31 2026-02-14 (Est.)
AJG
GALLAGHER ARTHU...
Financial Services 0.00% 0.08%
Sold All 😨
(Was: #58)
0.3 -700 -100.0%
CLOSED
$— 2002 Q1 13F Filing 2025-12-31 2026-02-14 (Est.)
WTW
WILLIS TOWERS W...
Financial Services 0.00% 0.08%
Sold All 😨
(Was: #60)
0.3 -600 -100.0%
CLOSED
$— 2011 Q1 13F Filing 2025-12-31 2026-02-14 (Est.)
MMC
MARSH & MCLENNA...
Financial Services 0.00% 0.07%
Sold All 😨
(Was: #61)
0.3 -1,000 -100.0%
CLOSED
$— 2005 Q2 13F Filing 2025-12-31 2026-02-14 (Est.)
SLDP
SOLID POWER INC
PUT
PUT Option 0.00% 0.06%
Sold All 😨
(Was: #62)
0.3 -50,000 -100.0%
CLOSED
$— 2024 Q2 13F Filing 2025-12-31 2026-02-14 (Est.)
SLDP
SOLID POWER INC
Consumer Cyclical 0.00% 0.01%
Sold All 😨
(Was: #63)
0.3 -10,000 -100.0%
CLOSED
$— 2024 Q2 13F Filing 2025-12-31 2026-02-14 (Est.)
Showing 1-25 of 100 holdings

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