Carlson Capital Management

CIK

1581298

Location

NORTHFIELD, MN

Portfolio Value

Mid $2,290,678,741

Diversification

Moderately concentrated

Filing Date

Global Rank

#1,205 / 8,163 ▼ 64 · as of Dec 2024

Top Industry

Consumer Electronics 15.2%

3Y Alpha vs SPY

-9.3%

Period ended 1 year ago

Filed Feb 10, 2025 · 1y

20 quarters · since Mar 2020

Clone Performance

Sep 2023–Jul 2025 · vs SPY

Hypothetical growth of buying every stock this filer reported holding, rebalancing on each filing and indexed to the same start. Option positions cannot be bought this way and are left out.

Cloned portfolio

+20.8%

SPY

+40.5%

Annualised alpha

-9.4%

Max drawdown

−12.9%

Estimate. 13F holdings are quarter-lagged, so the clone rebalances about 45 days after each period end — when the filing becomes public — and it excludes option and short positions. Returns use comparable raw closes and exclude dividends. Captured split ratios restate closes onto one basis; only an unusable ratio can exclude earlier closes for that listing. It tracks 100% of reported value on average across 7 quarters.Carlson Capital Management has stopped filing, so the simulation ends in Jul 2025 — where its last reported portfolio went stale — rather than trading that portfolio forward to today. Past performance does not predict future results.

Portfolio Concentration

74 tracked positions · as of Dec 31, 2024 · Δ vs Sep 30, 2024

Top Position

39.7%

−0.6 pts

Top 5

78.8%

−0.1 pts

Top 10

94.9%

−0.1 pts

HHI

2,053

Moderately concentrated−43

Portfolio Trend

20 quarters · across all stocks

Sector Breakdown

As of Dec 31, 2024

Sector	% Portfolio	Value	Positions
Unclassified	95.8%	$2,195,512,426	20
Technology	1.6%	$37,227,787	8
Healthcare	0.8%	$17,276,326	10
Industrials	0.6%	$13,188,423	9
Consumer Cyclical	0.3%	$7,939,586	5
Financial Services	0.3%	$7,481,569	8
Basic Materials	0.2%	$4,050,181	2
Communication Services	0.1%	$3,140,402	2
Consumer Defensive	0.1%	$2,611,079	6
Energy	0.1%	$1,520,037	2
Real Estate	0.0%	$404,331	1
Utilities	0.0%	$326,594	1

Last Quarter's Activity

Export CSV

Dec 31, 2024 vs Sep 30, 2024

Added To

Positions the filer increased

25 positions

Ticker	Company	Δ Shares	Shares	Value
AAAA	Amplius Aggressive Asset Allocation ETF	+772,394	33,332,105	$909,299,824
BIV	Vanguard Intermediate-Term Bond ETF	+207,586	2,282,489	$176,367,925
BNDW	Vanguard Total World Bond ETF	+138,164	3,273,140	$249,546,358
DCOR	Dimensional US Core Equity 1 ETF	+45,100	6,698,575	$178,093,196
AAXJ	iShares MSCI All Country Asia ex Japan ETF	+43,028	216,239	$11,847,854
FNDA	Schwab Fundamental U.S. Small Company ETF	+32,250	60,601	$1,346,740
VIG	Vanguard Dividend Appreciation ETF	+22,160	304,825	$27,887,610
ACSG	American Century Small Cap Growth Insights ETF	+18,661	1,561,088	$122,673,137
AAPL	Apple Inc.	+12,718	57,832	$14,482,289
VEA	Vanguard FTSE Developed Markets ETF	+5,820	400,526	$19,153,153
AAAP	Pacer Barings CLO Market Flex ETF	+3,728	3,182,858	$139,383,422
NVDA	Nvidia Corp	+1,672	10,380	$1,393,930
IBRX	ImmunityBio, Inc.	+1,000	20,000	$51,200
XEL	Xcel Energy Inc	+986	4,837	$326,594
AMZN	Amazon Com Inc	+710	10,178	$2,232,951
HBAN	Huntington Bancshares Inc /Md/	+692	163,575	$2,661,365
ABBV	AbbVie Inc.	+454	2,029	$360,553
AVGO	Broadcom Inc.	+451	7,433	$1,723,266
JPM	Jpmorgan Chase & Co	+413	1,436	$344,223
WFC	Wells Fargo & Company/Mn	+370	11,016	$773,763
SPY	Spdr S&P 500 ETF Trust	+360	1,656	$970,548
IBM	International Business Machines Corp	+267	1,408	$309,520
GOOGL	Alphabet Inc.	+259	10,695	$2,030,276
CVX	Chevron Corp	+206	3,350	$485,214
GGG	Graco Inc	+200	26,699	$2,250,458
No positions match the current search.

Trimmed

Positions the filer reduced

22 positions

Ticker	Company	Δ Shares	Shares	Value
ACIO	Aptus Collared Investment Opportunity ETF	−173,832	5,325,307	$292,140,859
ABT	Abbott Laboratories	−6,265	1,977	$223,618
VB	Vanguard Morningstar Small-Cap ETF	−5,582	212,106	$59,147,259
VEU	Vanguard FTSE All-World Ex-US ETF	−4,132	42,685	$1,879,847
TGT	Target Corp	−4,008	2,293	$309,967
ABNB	Airbnb, Inc.	−2,794	6,038	$793,453
LLY	ELI LILLY & Co	−1,936	513	$396,036
MSFT	Microsoft Corp	−1,514	18,097	$7,627,885
UNH	Unitedhealth Group Inc	−1,415	26,524	$13,417,430
USB	US Bancorp \De\	−1,349	12,335	$589,983
FUL	Fuller H B Co	−836	10,915	$736,544
SHW	Sherwin Williams Co	−799	9,748	$3,313,637
WMT	Walmart Inc.	−425	7,074	$639,135
MMM	3M Co	−352	60,084	$7,756,243
PEP	Pepsico Inc	−269	3,450	$524,607
ACN	Accenture plc	−161	31,020	$10,912,525
AGGY	WisdomTree Yield Enhanced U.S. Aggregate Bond Fund	−148	14,997	$1,071,574
JEF	Jefferies Financial Group Inc.	−124	3,876	$303,878
COST	Costco Wholesale Corp /New	−45	800	$733,016
SOLV	Solventum Corp	−37	10,890	$719,393
UNP	Union Pacific Corp	−26	1,483	$338,183
HON	Honeywell International Inc	−10	5,355	$1,209,640
No positions match the current search.

New Positions

Positions the filer opened this quarter

2 positions

Ticker	Company	Shares	Value
AMP	Ameriprise Financial Inc	530	$282,187
CAT	Caterpillar Inc	604	$219,107
No positions match the current search.

Sold Out

Positions the filer fully exited

3 positions

Ticker	Company	Shares	Value
DHR	Danaher Corp /De/	2,364	$657,239
MCD	Mcdonalds Corp	827	$251,829
OXY	Occidental Petroleum Corp /De/	3,959	$204,046
No positions match the current search.

Portfolio Positions

Compact Export CSV View 13F filing

74 tracked positions · $2,290,678,741 total · filing declares 112 positions · $2,291,142,639 · as of Dec 31, 2024

All sectors Basic Materials Communication Services Consumer Cyclical Consumer Defensive Energy Financial Services Healthcare Industrials Real Estate Technology Utilities

Showing 1–50 of 74 positions by value · page 1 of 2

Ticker	Company	Type	Shares	Δ Shares	Value (USD)	% Δ Value	% of Portfolio
AAAA	Amplius Aggressive Asset Allocation ETF	Added	33,332,105	+772,394	$909,299,824	−4.1%	39.70%
ACIO	Aptus Collared Investment Opportunity ETF	Reduced	5,325,307	-173,832	$292,140,859	−6.3%	12.75%
BNDW	Vanguard Total World Bond ETF	Added	3,273,140	+138,164	$249,546,358	+2.7%	10.89%
DCOR	Dimensional US Core Equity 1 ETF	Added	6,698,575	+45,100	$178,093,196	−6.9%	7.77%
BIV	Vanguard Intermediate-Term Bond ETF	Added	2,282,489	+207,586	$176,367,925	+8.0%	7.70%
AAAP	Pacer Barings CLO Market Flex ETF	Added	3,182,858	+3,728	$139,383,422	−4.5%	6.08%
ACSG	American Century Small Cap Growth Insights ETF	Added	1,561,088	+18,661	$122,673,137	−1.8%	5.36%
VB	Vanguard Morningstar Small-Cap ETF	Reduced	212,106	-5,582	$59,147,259	−0.5%	2.58%
VIG	Vanguard Dividend Appreciation ETF	Added	304,825	+22,160	$27,887,610	−1.2%	1.22%
VEA	Vanguard FTSE Developed Markets ETF	Added	400,526	+5,820	$19,153,153	−8.1%	0.84%
AAPL	Apple Inc. Technology	Added	57,832	+12,718	$14,482,289	+37.8%	0.63%
UNH	Unitedhealth Group Inc Healthcare	Reduced	26,524	-1,415	$13,417,430	−17.9%	0.59%
AAXJ	iShares MSCI All Country Asia ex Japan ETF	Added	216,239	+43,028	$11,847,854	+7.8%	0.52%
ACN	Accenture plc Technology	Reduced	31,020	-161	$10,912,525	−1.0%	0.48%
MMM	3M Co Industrials	Reduced	60,084	-352	$7,756,243	−6.1%	0.34%
MSFT	Microsoft Corp Technology	Reduced	18,097	-1,514	$7,627,885	−9.6%	0.33%
TSLA	Tesla, Inc. Consumer Cyclical	Added	8,526	+132	$3,443,139	+56.8%	0.15%
SHW	Sherwin Williams Co Basic Materials	Reduced	9,748	-799	$3,313,637	−17.7%	0.14%
IAU	Ishares Gold Trust	Added	57,334	+100	$2,838,606	−0.2%	0.12%
HBAN	Huntington Bancshares Inc /Md/ Financial Services	Added	163,575	+692	$2,661,365	+11.2%	0.12%
GGG	Graco Inc Industrials	Added	26,699	+200	$2,250,458	−3.0%	0.10%
AMZN	Amazon Com Inc Consumer Cyclical	Added	10,178	+710	$2,232,951	+26.6%	0.10%
BRK-B	Berkshire Hathaway Inc Financial Services	Added	4,917	+54	$2,228,777	−0.4%	0.10%
GOOGL	Alphabet Inc. Communication Services	Added	10,695	+259	$2,030,276	+16.9%	0.09%
VEU	Vanguard FTSE All-World Ex-US ETF	Reduced	42,685	-4,132	$1,879,847	−16.1%	0.08%
AVGO	Broadcom Inc. Technology	Added	7,433	+451	$1,723,266	+43.1%	0.08%
NVDA	Nvidia Corp Technology	Added	10,380	+1,672	$1,393,930	+31.8%	0.06%
FNDA	Schwab Fundamental U.S. Small Company ETF	Added	60,601	+32,250	$1,346,740	—	0.06%
HON	Honeywell International Inc Industrials	Reduced	5,355	-10	$1,209,640	+9.1%	0.05%
META	Meta Platforms, Inc. Communication Services	Added	1,896	+118	$1,110,126	+9.1%	0.05%
AGGY	WisdomTree Yield Enhanced U.S. Aggregate Bond Fund	Reduced	14,997	-148	$1,071,574	−3.9%	0.05%
XOM	ExxonMobil Holdings Corp Energy	Added	9,620	+191	$1,034,823	−6.4%	0.05%
SPY	Spdr S&P 500 ETF Trust	Added	1,656	+360	$970,548	+30.5%	0.04%
QQQ	Invesco Qqq Trust, Series 1	Added	1,860	+183	$950,887	+16.2%	0.04%
MCK	Mckesson Corp Healthcare	Added	1,635	+5	$931,802	+15.6%	0.04%
HRB	H&R Block Inc Consumer Cyclical	Held	17,400	0	$919,416	−16.9%	0.04%
ABNB	Airbnb, Inc. Consumer Cyclical	Reduced	6,038	-2,794	$793,453	−29.2%	0.03%
WFC	Wells Fargo & Company/Mn Financial Services	Added	11,016	+370	$773,763	+28.7%	0.03%
FUL	Fuller H B Co Basic Materials	Reduced	10,915	-836	$736,544	−21.0%	0.03%
COST	Costco Wholesale Corp /New Consumer Defensive	Reduced	800	-45	$733,016	−2.1%	0.03%
SOLV	Solventum Corp Healthcare	Reduced	10,890	-37	$719,393	−5.6%	0.03%
BSX	Boston Scientific Corp Healthcare	Held	7,396	0	$660,610	+6.6%	0.03%
WMT	Walmart Inc. Consumer Defensive	Reduced	7,074	-425	$639,135	+5.5%	0.03%
CHRW	C. H. Robinson Worldwide, Inc. Industrials	Added	5,992	+30	$619,093	−5.9%	0.03%
USB	US Bancorp \De\ Financial Services	Reduced	12,335	-1,349	$589,983	−5.7%	0.03%
MAR	Marriott International Inc /Md/ Consumer Cyclical	Added	1,974	+4	$550,627	+12.4%	0.02%
BMI	Badger Meter Inc Technology	Held	2,550	0	$540,906	−2.9%	0.02%
PEP	Pepsico Inc Consumer Defensive	Reduced	3,450	-269	$524,607	−17.0%	0.02%
JNJ	Johnson & Johnson Healthcare	Added	3,494	+55	$505,302	−9.3%	0.02%
CVX	Chevron Corp Energy	Added	3,350	+206	$485,214	+4.8%	0.02%

Covers the securities this platform tracks: U.S.-listed common stock and the put/call positions reported on it. A 13F can also report security types outside that coverage — preferred shares, bonds, warrants, untracked share classes — so the filing's own declared total can exceed the figures above. The source filing is linked at the top of this table.