CARLSON CAPITAL L P recently filed their 13F report for the fourth quarter of 2022, which ended on 2022-12-31.
The 13F report details which stocks were in a guru’s equity portfolio at the end of the quarter, though investors should note that these filings are limited in scope, containing only a snapshot of long positions in U.S.-listed stocks and American depository receipts as of the quarter’s end. They are not required to include international holdings, short positions or other types of investments. Still, even this limited filing can provide valuable information.
Carlson Capital is a hedge fund sponsor based out of Dallas. The alternative asset management firm was founded in 1993 by Clint Carlson, who continues to be have an active role in the company as its CIO. Carlson Capital believes that “risk-adjusted returns can be achieved by the use of thoughtful, targeted hedging strategies and diversification, across multiple strategies and multiple decision makers,” allocating its assets in various public equity, hedging, and fixed income markets in the United States. The company utilizes a multi strategy approach to make its investment decisions, utilizing risk arbitrage, convertible arbitrage, credit arbitrage, and a variety of other methods to make investments. Carlson Capital currently invests in a wide variety of sectors including finance, information technology, consumer discretionary, energy, health care, utilities and telecommunications, consumer staples, and industrials, among others to a lesser degree, in order of decreasing amount allocated. The company currently has 178 employees with 89 of them being investment professionals. Carlson Capital has approximately $23 billion in total assets under management spread across 29 accounts, all of which are discretionary. Both of the firm’s total number of accounts and total assets under management have been increasing in recent years with its number of accounts held rising from 11 five years prior to its current amount today and its total assets under management growing significantly from $4 billion back in 2010 to well over five times that amount today. The company is owned by its employees with the majority controlling ownership split between Clint Duane Carlson and Nancy Packer Carlson, each owning more than 40% of the company’s total ownership, with the remaining ownership split amongst Asgard Investment Corp and various key executives. Carlson Capital currently has additional locations in New York, Palm Beach Gardens, and Greenwich on top of its headquarters in Texas.
As of the latest 13F report, the guru’s equity portfolio contained 117 stocks valued at a total of $1.31Bil. The top holdings were SWKH(12.24%), HZNP(6.56%), and BKI(4.95%).
According to GuruFocus data, these were CARLSON CAPITAL L P’s top five trades of the quarter.
Horizon Therapeutics PLC
The guru established a new position worth 755,000 shares in NAS:HZNP, giving the stock a 6.56% weight in the equity portfolio. Shares traded for an average price of $83.06 during the quarter.
On 02/18/2023, Horizon Therapeutics PLC traded for a price of $109.93 per share and a market cap of $25.11Bil. The stock has returned 16.50% over the past year.
GuruFocus gives the company a financial strength rating of 7 out of 10 and a profitability rating of 6 out of 10.
In terms of valuation, Horizon Therapeutics PLC has a price-earnings ratio of 45.05, a price-book ratio of 4.99, a EV-to-Ebitda ratio of 24.03 and a price-sales ratio of 7.01.
The price-to-GF Value ratio is 0.87, earning the stock a GF Value rank of 7.
Rogers Corp
The guru sold out of their 260,000-share investment in NYSE:ROG. Previously, the stock had a 4.74% weight in the equity portfolio. Shares traded for an average price of $155.25 during the quarter.
On 02/18/2023, Rogers Corp traded for a price of $148.98 per share and a market cap of $2.80Bil. The stock has returned -45.34% over the past year.
GuruFocus gives the company a financial strength rating of 8 out of 10 and a profitability rating of 8 out of 10.
In terms of valuation, Rogers Corp has a price-earnings ratio of 39.10, a price-book ratio of 2.57, a price-earnings-to-growth (PEG) ratio of 23.00, a EV-to-Ebitda ratio of 22.74 and a price-sales ratio of 2.87.
The price-to-GF Value ratio is 0.01, earning the stock a GF Value rank of 2.
Myovant Sciences Ltd
The guru established a new position worth 1,805,249 shares in NYSE:MYOV, giving the stock a 3.71% weight in the equity portfolio. Shares traded for an average price of $26.3 during the quarter.
On 02/18/2023, Myovant Sciences Ltd traded for a price of $26.97 per share and a market cap of $2.62Bil. The stock has returned 109.88% over the past year.
GuruFocus gives the company a financial strength rating of 3 out of 10. There is insufficient data to calculate the stock’s profitability rating.
In terms of valuation, Myovant Sciences Ltd has a EV-to-Ebitda ratio of -19.31 and a price-sales ratio of 6.81.
Duke Realty Corp
The guru sold out of their 950,000-share investment in NYSE:DRE. Previously, the stock had a 3.45% weight in the equity portfolio. Shares traded for an average price of $48.2 during the quarter.
On 02/18/2023, Duke Realty Corp traded for a price of $48.2 per share and a market cap of $18.56Bil. The stock has returned -16.60% over the past year.
GuruFocus gives the company a financial strength rating of 5 out of 10 and a profitability rating of 8 out of 10.
In terms of valuation, Duke Realty Corp has a price-earnings ratio of 19.44, a price-book ratio of 2.94, a price-earnings-to-growth (PEG) ratio of 1.87, a EV-to-Ebitda ratio of 15.77 and a price-sales ratio of 16.85.
The price-to-GF Value ratio is 0.99, earning the stock a GF Value rank of 5.
Twitter Inc
The guru sold out of their 1,017,500-share investment in NYSE:TWTR. Previously, the stock had a 3.36% weight in the equity portfolio. Shares traded for an average price of $50.72 during the quarter.
On 02/18/2023, Twitter Inc traded for a price of $53.7 per share and a market cap of $41.09Bil. The stock has returned -2.03% over the past year.
GuruFocus gives the company a financial strength rating of 5 out of 10 and a profitability rating of 4 out of 10.
In terms of valuation, Twitter Inc has a price-book ratio of 6.98, a EV-to-Ebitda ratio of 66.62 and a price-sales ratio of 8.22.
The price-to-GF Value ratio is 0.93, earning the stock a GF Value rank of 6.
Please note, the numbers and facts quoted are as of the writing of this article and may not factor in the latest trading data or company announcements.
When GuruFocus covers insider information, we only track open market or the private purchase and sale of common stock with the transaction code of P or S. Therefore, all the transactions mentioned in this article are only the ones with transaction code of P or S.
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