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    <filerInfo>
      <registrantType>IM</registrantType>
      <liveTestFlag>LIVE</liveTestFlag>
      <filer>
        <issuerCredentials>
          <cik>0001056973</cik>
          <ccc>XXXXXXXX</ccc>
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      <flags>
        <overrideInternetFlag>false</overrideInternetFlag>
        <confirmingCopyFlag>false</confirmingCopyFlag>
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      <investmentCompanyType/>
      <periodOfReport>06/30/2025</periodOfReport>
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      <yearOrQuarter>YEAR</yearOrQuarter>
      <reportCalendarYear>2025</reportCalendarYear>
      <reportingPerson>
        <name>Carlson Capital, L.P.</name>
        <phoneNumber>214 932 9600</phoneNumber>
        <address>
          <com:street1>2100 McKinney Ave.</com:street1>
          <com:street2>Suite 1900</com:street2>
          <com:city>Dallas</com:city>
          <com:stateOrCountry>TX</com:stateOrCountry>
          <com:zipCode>75201</com:zipCode>
        </address>
      </reportingPerson>
      <reportInfo>
        <reportType>INSTITUTIONAL MANAGER VOTING REPORT</reportType>
        <confidentialTreatment>N</confidentialTreatment>
      </reportInfo>
      <fileNumber>028-07044</fileNumber>
      <reportingCrdNumber>000118156</reportingCrdNumber>
      <reportingSecFileNumber>801-60758</reportingSecFileNumber>
      <leiNumber>XJC7517PZOP2KEVT5Z73</leiNumber>
      <explanatoryInformation>
        <explanatoryChoice>N</explanatoryChoice>
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      <otherIncludedManagersCount>0</otherIncludedManagersCount>
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    <signaturePage>
      <reportingPerson>Carlson Capital, L.P.</reportingPerson>
      <txSignature>Travis Goldammer</txSignature>
      <txPrintedSignature>Travis Goldammer</txPrintedSignature>
      <txTitle>Chief Operating Officer, Carlson Capital, L.P.</txTitle>
      <txAsOfDate>07/21/2025</txAsOfDate>
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