# Carlson Capital Management

> Institutional holdings reported to the SEC as of Q4 2024 on Form 13F. CIK 1581298. Source: https://holderbook.com/funds/1581298-carlson-capital-management/

- Reported value: $2.3B
- Positions: 112
- Weight of the ten largest: 88.6%
- Filed: 2025-02-10

A 13F reports long US equity positions only. Short positions, bonds, foreign listings, private holdings and cash are not visible, so this is not the manager's whole book.

## Holdings

| Security | Ticker | Value | Shares | Weight | Quarters held |
|---|---|---|---|---|---|
| EA SERIES TRUST | [SFGV](https://holderbook.com/stocks/SFGV/) | $909.3M | 33,332,105 | 39.7% | 4 |
| ETF SER SOLUTIONS | [DSTL](https://holderbook.com/stocks/DSTL/) | $291.9M | 5,315,101 | 12.7% | 14 |
| VANGUARD SCOTTSDALE FDS | [VCSH](https://holderbook.com/stocks/VCSH/) | $232.6M | 2,981,093 | 10.2% | 25 |
| VANGUARD BD INDEX FDS | [BSV](https://holderbook.com/stocks/BSV/) | $176.4M | 2,282,489 | 7.7% | 25 |
| DIMENSIONAL ETF TRUST | [DIHP](https://holderbook.com/stocks/DIHP/) | $98.7M | 3,912,589 | 4.3% | 11 |
| PACER FDS TR | [COWZ](https://holderbook.com/stocks/COWZ/) | $96.2M | 1,703,034 | 4.2% | 14 |
| AMERICAN CENTY ETF TR | [AVUV](https://holderbook.com/stocks/AVUV/) | $75.4M | 781,089 | 3.3% | 17 |
| DIMENSIONAL ETF TRUST | [DFEM](https://holderbook.com/stocks/DFEM/) | $58.6M | 2,235,787 | 2.6% | 11 |
| VANGUARD INDEX FDS | [VTI](https://holderbook.com/stocks/VTI/) | $47.5M | 163,822 | 2.1% | 25 |
| PACER FDS TR | [ICOW](https://holderbook.com/stocks/ICOW/) | $43.2M | 1,479,824 | 1.9% | 14 |
| AMERICAN CENTY ETF TR | [AVDV](https://holderbook.com/stocks/AVDV/) | $37.1M | 570,294 | 1.6% | 17 |
| VANGUARD INDEX FDS | [VNQ](https://holderbook.com/stocks/VNQ/) | $26.5M | 297,951 | 1.2% | 25 |
| VANGUARD TAX-MANAGED FDS | [VEA](https://holderbook.com/stocks/VEA/) | $19.2M | 400,526 | 0.8% | 25 |
| VANGUARD SCOTTSDALE FDS | [VGSH](https://holderbook.com/stocks/VGSH/) | $17.0M | 292,047 | 0.7% | 12 |
| APPLE INC | [AAPL](https://holderbook.com/stocks/AAPL/) | $14.5M | 57,832 | 0.6% | 25 |
| UNITEDHEALTH GROUP INC | [UNH](https://holderbook.com/stocks/UNH/) | $13.4M | 26,524 | 0.6% | 25 |
| ACCENTURE PLC IRELAND | [ACN](https://holderbook.com/stocks/ACN/) | $10.9M | 31,020 | 0.5% | 14 |
| VANGUARD INDEX FDS | [VV](https://holderbook.com/stocks/VV/) | $8.1M | 29,893 | 0.4% | 25 |
| 3M CO | [MMM](https://holderbook.com/stocks/MMM/) | $7.8M | 60,084 | 0.3% | 25 |
| MICROSOFT CORP | [MSFT](https://holderbook.com/stocks/MSFT/) | $7.6M | 18,097 | 0.3% | 25 |
| ISHARES TR | [IQLT](https://holderbook.com/stocks/IQLT/) | $6.1M | 165,362 | 0.3% | 13 |
| DIMENSIONAL ETF TRUST | [DFAT](https://holderbook.com/stocks/DFAT/) | $5.5M | 99,247 | 0.2% | 15 |
| AMERICAN CENTY ETF TR | [AVRE](https://holderbook.com/stocks/AVRE/) | $5.4M | 128,552 | 0.2% | 5 |
| AMERICAN CENTY ETF TR | [AVEM](https://holderbook.com/stocks/AVEM/) | $4.8M | 81,153 | 0.2% | 14 |
| DIMENSIONAL ETF TRUST | [DFIV](https://holderbook.com/stocks/DFIV/) | $3.7M | 104,963 | 0.2% | 14 |
| TESLA INC | [TSLA](https://holderbook.com/stocks/TSLA/) | $3.4M | 8,526 | 0.2% | 8 |
| SHERWIN WILLIAMS CO | [SHW](https://holderbook.com/stocks/SHW/) | $3.3M | 9,748 | 0.1% | 12 |
| DIMENSIONAL ETF TRUST | [DFSU](https://holderbook.com/stocks/DFSU/) | $2.9M | 75,409 | 0.1% | 7 |
| ISHARES GOLD TR | [IAU](https://holderbook.com/stocks/IAU/) | $2.8M | 57,334 | 0.1% | 10 |
| HUNTINGTON BANCSHARES INC | [HBAN](https://holderbook.com/stocks/HBAN/) | $2.7M | 163,575 | 0.1% | 15 |
| DIMENSIONAL ETF TRUST | [DUHP](https://holderbook.com/stocks/DUHP/) | $2.5M | 74,307 | 0.1% | 11 |
| GRACO INC | [GGG](https://holderbook.com/stocks/GGG/) | $2.3M | 26,699 | 0.1% | 25 |
| AMAZON COM INC | [AMZN](https://holderbook.com/stocks/AMZN/) | $2.2M | 10,178 | 0.1% | 25 |
| BERKSHIRE HATHAWAY INC DEL | [BRKB](https://holderbook.com/stocks/BRKB/) | $2.2M | 4,917 | 0.1% | 25 |
| VANGUARD INTL EQUITY INDEX F | [VWO](https://holderbook.com/stocks/VWO/) | $1.9M | 42,685 | 0.1% | 25 |
| DIMENSIONAL ETF TRUST | [DFAR](https://holderbook.com/stocks/DFAR/) | $1.8M | 79,064 | 0.1% | 10 |
| BROADCOM INC | [AVGO](https://holderbook.com/stocks/AVGO/) | $1.7M | 7,433 | 0.1% | 19 |
| DIMENSIONAL ETF TRUST | [DFUV](https://holderbook.com/stocks/DFUV/) | $1.5M | 37,278 | 0.1% | 11 |
| NVIDIA CORPORATION | [NVDA](https://holderbook.com/stocks/NVDA/) | $1.4M | 10,380 | 0.1% | 15 |
| VANGUARD SPECIALIZED FUNDS | [VIG](https://holderbook.com/stocks/VIG/) | $1.3M | 6,874 | 0.1% | 13 |
| ISHARES TR | [IWO](https://holderbook.com/stocks/IWO/) | $1.3M | 4,501 | 0.1% | 14 |
| VANGUARD INDEX FDS | [VTV](https://holderbook.com/stocks/VTV/) | $1.2M | 7,333 | 0.1% | 25 |
| HONEYWELL INTL INC | [HONZZZZ](https://holderbook.com/stocks/HONZZZZ/) | $1.2M | 5,355 | 0.1% | 25 |
| META PLATFORMS INC | [META](https://holderbook.com/stocks/META/) | $1.1M | 1,896 | 0.0% | 25 |
| ALPHABET INC | [GOOGL](https://holderbook.com/stocks/GOOGL/) | $1.1M | 5,683 | 0.0% | 25 |
| VANGUARD INDEX FDS | [VBR](https://holderbook.com/stocks/VBR/) | $1.1M | 5,331 | 0.0% | 25 |
| EXXON MOBIL CORP | [XOMXXXX](https://holderbook.com/stocks/XOMXXXX/) | $1.0M | 9,620 | 0.0% | 25 |
| DIMENSIONAL ETF TRUST | [DFSI](https://holderbook.com/stocks/DFSI/) | $1.0M | 31,429 | 0.0% | 7 |
| STATE STR SPDR S&P 500 ETF T | [SPY](https://holderbook.com/stocks/SPY/) | $970.7K | 1,656 | 0.0% | 25 |
| ISHARES TR | [IEFA](https://holderbook.com/stocks/IEFA/) | $964.3K | 13,721 | 0.0% | 20 |
| ALPHABET INC | [GOOG](https://holderbook.com/stocks/GOOG/) | $954.4K | 5,012 | 0.0% | 25 |
| INVESCO QQQ TR | [QQQ](https://holderbook.com/stocks/QQQ/) | $950.7K | 1,860 | 0.0% | 25 |
| VANGUARD INDEX FDS | [VB](https://holderbook.com/stocks/VB/) | $938.2K | 3,905 | 0.0% | 25 |
| ISHARES TR | [SUB](https://holderbook.com/stocks/SUB/) | $933.8K | 8,853 | 0.0% | 4 |
| MCKESSON CORP | [MCK](https://holderbook.com/stocks/MCK/) | $931.9K | 1,635 | 0.0% | 25 |
| BLOCK H & R INC | [HRB](https://holderbook.com/stocks/HRB/) | $919.4K | 17,400 | 0.0% | 8 |
| AIRBNB INC | [ABNB](https://holderbook.com/stocks/ABNB/) | $793.5K | 6,038 | 0.0% | 11 |
| WELLS FARGO & CO | [WFC](https://holderbook.com/stocks/WFC/) | $773.8K | 11,016 | 0.0% | 25 |
| FULLER H B CO | [FUL](https://holderbook.com/stocks/FUL/) | $736.5K | 10,915 | 0.0% | 16 |
| COSTCO WHOLESALE CORPORATION | [COST](https://holderbook.com/stocks/COST/) | $733.0K | 800 | 0.0% | 24 |
| SCHWAB STRATEGIC TR | [SCHX](https://holderbook.com/stocks/SCHX/) | $727.7K | 31,392 | 0.0% | 25 |
| SOLVENTUM CORP | [SOLV](https://holderbook.com/stocks/SOLV/) | $719.4K | 10,890 | 0.0% | 3 |
| BOSTON SCIENTIFIC CORP | [BSX](https://holderbook.com/stocks/BSX/) | $660.6K | 7,396 | 0.0% | 21 |
| DIMENSIONAL ETF TRUST | [DISV](https://holderbook.com/stocks/DISV/) | $646.6K | 24,337 | 0.0% | 1 |
| WALMART INC | [WMT](https://holderbook.com/stocks/WMT/) | $639.2K | 7,074 | 0.0% | 22 |
| ISHARES TR | [ITOT](https://holderbook.com/stocks/ITOT/) | $621.2K | 4,830 | 0.0% | 20 |
| C H ROBINSON WORLDWIDE IN | [CHRW](https://holderbook.com/stocks/CHRW/) | $619.1K | 5,992 | 0.0% | 25 |
| US BANCORP | [USB](https://holderbook.com/stocks/USB/) | $590.0K | 12,335 | 0.0% | 25 |
| ISHARES TR | [IVV](https://holderbook.com/stocks/IVV/) | $578.1K | 982 | 0.0% | 2 |
| WISDOMTREE TR | [DLS](https://holderbook.com/stocks/DLS/) | $555.0K | 8,816 | 0.0% | 25 |
| MARRIOTT INTL INC NEW | [MAR](https://holderbook.com/stocks/MAR/) | $550.6K | 1,974 | 0.0% | 17 |
| BADGER METER INC | [BMI](https://holderbook.com/stocks/BMI/) | $540.9K | 2,550 | 0.0% | 25 |
| VANGUARD INDEX FDS | [VUG](https://holderbook.com/stocks/VUG/) | $532.5K | 1,297 | 0.0% | 19 |
| PEPSICO INC | [PEP](https://holderbook.com/stocks/PEP/) | $524.6K | 3,450 | 0.0% | 25 |
| WISDOMTREE TR | [WTV](https://holderbook.com/stocks/WTV/) | $516.6K | 6,181 | 0.0% | 11 |
| JOHNSON & JOHNSON | [JNJ](https://holderbook.com/stocks/JNJ/) | $505.3K | 3,494 | 0.0% | 25 |
| CHEVRON CORPORATION | [CVX](https://holderbook.com/stocks/CVX/) | $485.3K | 3,350 | 0.0% | 3 |
| DIMENSIONAL ETF TRUST | [DFAS](https://holderbook.com/stocks/DFAS/) | $480.5K | 7,383 | 0.0% | 15 |
| SPDR SERIES TRUST | [SLYV](https://holderbook.com/stocks/SLYV/) | $425.0K | 4,871 | 0.0% | 25 |
| DIMENSIONAL ETF TRUST | [DFSE](https://holderbook.com/stocks/DFSE/) | $420.2K | 12,683 | 0.0% | 3 |
| ISHARES TR | [EFV](https://holderbook.com/stocks/EFV/) | $405.1K | 7,720 | 0.0% | 25 |
| AMERICAN HEALTHCARE REIT INC | [AHR](https://holderbook.com/stocks/AHR/) | $404.3K | 14,227 | 0.0% | 2 |
| ELI LILLY & CO | [LLY](https://holderbook.com/stocks/LLY/) | $396.0K | 513 | 0.0% | 25 |
| SCHWAB STRATEGIC TR | [SCHF](https://holderbook.com/stocks/SCHF/) | $385.0K | 20,809 | 0.0% | 25 |
| ISHARES TR | [QUAL](https://holderbook.com/stocks/QUAL/) | $367.2K | 2,062 | 0.0% | 5 |
| ABBVIE INC | [ABBV](https://holderbook.com/stocks/ABBV/) | $360.6K | 2,029 | 0.0% | 2 |
| JPMORGAN CHASE & CO | [JPM](https://holderbook.com/stocks/JPM/) | $344.2K | 1,436 | 0.0% | 3 |
| UNION PAC CORP | [UNP](https://holderbook.com/stocks/UNP/) | $338.2K | 1,483 | 0.0% | 25 |
| ISHARES TR | [IYT](https://holderbook.com/stocks/IYT/) | $332.6K | 4,923 | 0.0% | 14 |
| XCEL ENERGY INC | [XEL](https://holderbook.com/stocks/XEL/) | $326.6K | 4,837 | 0.0% | 25 |
| FASTENAL CO | [FAST](https://holderbook.com/stocks/FAST/) | $311.7K | 4,335 | 0.0% | 25 |
| TARGET CORP | [TGT](https://holderbook.com/stocks/TGT/) | $310.0K | 2,293 | 0.0% | 25 |
| INTERNATIONAL BUSINESS MACHS | [IBM](https://holderbook.com/stocks/IBM/) | $309.5K | 1,408 | 0.0% | 2 |
| JEFFERIES FINANCIAL GROUP IN | [JEF](https://holderbook.com/stocks/JEF/) | $303.9K | 3,876 | 0.0% | 2 |
| VISA INC | [V](https://holderbook.com/stocks/V/) | $297.5K | 941 | 0.0% | 19 |
| VANGUARD INDEX FDS | [VOO](https://holderbook.com/stocks/VOO/) | $282.9K | 525 | 0.0% | 3 |
| AMERIPRISE FINL INC | [AMP](https://holderbook.com/stocks/AMP/) | $282.2K | 530 | 0.0% | 1 |
| DEERE & CO | [DE](https://holderbook.com/stocks/DE/) | $264.8K | 625 | 0.0% | 2 |
| DIMENSIONAL ETF TRUST | [DFUS](https://holderbook.com/stocks/DFUS/) | $261.3K | 4,099 | 0.0% | 15 |
| SPDR INDEX SHS FDS | [GWX](https://holderbook.com/stocks/GWX/) | $248.1K | 8,009 | 0.0% | 25 |

## What the disclosed book did

Not the fund's return. This is the change in value of the positions disclosed on Form 13F, had they been left untouched, against SPY over the same quarter ends.

| Quarter | Book | Market | Difference | Priced |
|---|---|---|---|---|
| Q4 2024 | -4.5% | +2.1% | -6.6% | 100% |
| Q1 2024 | +5.6% | +10.0% | -4.5% | 100% |
| Q4 2023 | +8.8% | +11.2% | -2.4% | 100% |
| Q3 2023 | -1.9% | -3.6% | +1.7% | 100% |
| Q2 2023 | +3.1% | +8.3% | -5.2% | 100% |
| Q1 2023 | +4.2% | +7.0% | -2.9% | 100% |
| Q4 2022 | +9.2% | +7.1% | +2.1% | 100% |
| Q3 2022 | -5.4% | -5.3% | -0.1% | 100% |

## Quarter by quarter

| Quarter | Value | Positions |
|---|---|---|
| Q4 2024 | $2.3B | 112 |
| Q3 2024 | $2.4B | 115 |
| Q2 2024 | $2.1B | 106 |
| Q1 2024 | $2.1B | 103 |
| Q4 2023 | $1.9B | 204 |
| Q3 2023 | $1.7B | 172 |
| Q2 2023 | $1.7B | 167 |
| Q1 2023 | $1.5B | 163 |
| Q4 2022 | $1.4B | 165 |
| Q3 2022 | $1.2B | 159 |
| Q2 2022 | $1.1B | 167 |
| Q1 2022 | $1.2B | 172 |