Caldwell Sutter Capital, Inc.
In its 13F for Q3 2024 (holdings as of September 30, 2024, filed October 25, 2024), Caldwell Sutter Capital, Inc. reported 902 stock positions worth $214.4 million. Its top holding was Apple (AAPL) at 5.2% of the portfolio, followed by Msa Safety (MSA, 2.8%) and Microsoft (MSFT, 1.9%). Compared with Q2 2024, it opened 16 new positions, sold out of 34, added to 87 and reduced 178. The biggest buy was a new position in Firstsun Capital Bancorp (FSUN) and the biggest sale CSW Industrials (CSW, shares −58%).
- Most Recent 13F
- Q2 2026
- Location
- SAUSALITO, CA
- CIK
- 0000702007
- Portfolio Value
- $214.4M (Q3 2024)
- SEC Filing
- 0001415889-24-025629 ↗ filed Oct 25, 2024
Holdings Value
Holdings 902 stocks · $214.4M
| AAPL Apple Inc. | 5.24% | 48,230 | $11.2M | Reduce -6.1% |
| MSA Msa Safety Inc. | 2.85% | 34,399 | $6.1M | No change |
| MSFT Microsoft Corp. | 1.94% | 9,660 | $4.2M | Reduce -3.5% |
| KNTK Kinetik Holdings Inc. | 1.83% | 86,700 | $3.9M | Reduce -4.1% |
| V Visa Inc. Class A | 1.74% | 13,533 | $3.7M | Reduce -10.1% |
| CAT Caterpillar Inc. | 1.71% | 9,367 | $3.7M | Reduce -7.4% |
| DGICA Donegal Group Inc. Class A | 1.62% | 236,261 | $3.5M | Add +1.3% |
| COST Costco Wholesale Corp. | 1.44% | 3,474 | $3.1M | Reduce -16.0% |
| PPIH Perma-Pipe International Hol | 1.38% | 227,996 | $3.0M | Add +0.0% |
| IVV iShares Core S&P 500 ETF | 1.35% | 5,009 | $2.9M | Reduce -0.9% |
| CVX Chevron Corp. | 1.33% | 19,431 | $2.9M | Reduce -4.4% |
| FSUN Firstsun Capital Bancorp | 1.26% | 63,666 | $2.7M | New |
| VIG Vanguard Dividend Apprec ETF | 1.21% | 13,112 | $2.6M | Reduce -1.5% |
| INBK First Internet Bancorp | 1.17% | 73,058 | $2.5M | Reduce -0.4% |
| MOD Modine Manufacturing Co. | 1.14% | 18,339 | $2.4M | No change |
| NEN New England Realty Assoc-LP | 1.13% | 30,376 | $2.4M | No change |
| NAII Natural Alternatives Intl | 1.11% | 414,475 | $2.4M | Add +0.6% |
| BRK.B Berkshire Hathaway Inc. Class B | 1.08% | 5,015 | $2.3M | Add +23.9% |
| PFE Pfizer Inc. | 1.00% | 74,179 | $2.1M | Reduce -0.7% |
| GOLD Gold.com Inc. filed as A-MARK PRECIOUS METALS INC | 0.95% | 46,102 | $2.0M | No change |
| AXP American Express Co. | 0.94% | 7,419 | $2.0M | Reduce -0.1% |
| PKBK Parke Bancorp Inc. | 0.93% | 95,415 | $2.0M | No change |
| BCML Baycom Corp. | 0.93% | 84,047 | $2.0M | Add +3.5% |
| JPM JPMorgan Chase & Co. | 0.92% | 9,398 | $2.0M | Reduce -1.4% |
| BANR Banner Corporation | 0.91% | 32,887 | $2.0M | Reduce -2.4% |
| IBM Intl Business Machines Corp. filed as INTERNATIONAL BUSINESS MACHS | 0.91% | 8,806 | $1.9M | Reduce -8.8% |
| SSBI Summit State Bank | 0.90% | 228,469 | $1.9M | Add +13.0% |
| META Meta Platforms Inc. Class A | 0.86% | 3,223 | $1.8M | Reduce -4.5% |
| XOM Exxon Mobil Corp. | 0.85% | 15,548 | $1.8M | Reduce -0.7% |
| UMH Umh Properties Inc. filed as UMH PPTYS INC | 0.85% | 92,194 | $1.8M | Add +0.8% |
| KYN Kayne Anderson Energy Infra | 0.84% | 164,394 | $1.8M | Reduce -0.8% |
| VTI VG Morningstar TS MKT ETF-US | 0.83% | 6,278 | $1.8M | No change |
| PEP Pepsico Inc. | 0.81% | 10,225 | $1.7M | Reduce -0.3% |
| MCI Barings Corporate Investors | 0.79% | 84,614 | $1.7M | No change |
| WLY Wiley (john) & Sons Class A | 0.76% | 33,936 | $1.6M | No change |
| IGM iShares Expanded Tech Sector | 0.76% | 16,902 | $1.6M | No change |
| AXR Amrep Corp. | 0.73% | 52,572 | $1.6M | Reduce -2.4% |
| UNP Union Pacific Corp. | 0.71% | 6,184 | $1.5M | Add +0.0% |
| CSCO Cisco Systems Inc. | 0.70% | 28,127 | $1.5M | Reduce -0.4% |
| HD Home Depot Inc. | 0.68% | 3,578 | $1.4M | Reduce -1.4% |
| CWBC Community West Bancshares | 0.67% | 74,705 | $1.4M | No change |
| BSM Black Stone Minerals LP | 0.65% | 91,890 | $1.4M | Add +1.3% |
| ARL American Realty Investors Inc. | 0.65% | 78,877 | $1.4M | Reduce -2.4% |
| SENEA Seneca Foods Corp. Class A | 0.62% | 21,306 | $1.3M | No change |
| CSW CSW Industrials Inc. | 0.60% | 3,512 | $1.3M | Reduce -58.0% |
| BOND PIMCO Active Bond Exchange-T | 0.56% | 12,674 | $1.2M | Add +2.6% |
| VUG Vanguard Mrngstar GR ETF-Sui | 0.53% | 2,981 | $1.1M | Reduce -4.9% |
| CP Canadian Pacific Kansas City | 0.53% | 13,250 | $1.1M | No change |
| VZ Verizon Communications Inc. | 0.52% | 25,032 | $1.1M | Add +1.9% |
| ABBV Abbvie Inc. | 0.51% | 5,541 | $1.1M | Reduce -3.5% |
| CSWC Capital Southwest Corp. | 0.51% | 43,228 | $1.1M | No change |
| HON Honeywell International Inc. | 0.49% | 5,041 | $1.0M | Add +0.5% |
| T AT&T Inc. | 0.48% | 46,399 | $1.0M | Add +1.2% |
| MCD McDonald's Corp. | 0.48% | 3,346 | $1.0M | Reduce -6.3% |
| ITIC Investors Title Co. | 0.47% | 4,393 | $1.0M | No change |
| JNJ Johnson & Johnson | 0.46% | 6,035 | $978K | Add +0.3% |
| NICHOLAS FINL INC BC filed as OLD MKT CAP CORP | 0.45% | 153,602 | $975K | Reduce -2.2% |
| MNTX Manitex International Inc. | 0.45% | 170,725 | $961K | No change |
| LMT Lockheed Martin Corp. | 0.44% | 1,618 | $946K | Reduce -2.7% |
| MCHB Mechanics Bancorp Class A filed as HOMESTREET INC | 0.44% | 59,500 | $938K | Reduce -0.8% |
| ELSE Electro-Sensors Inc. | 0.44% | 239,179 | $933K | No change |
| AIV Apartment Invt & Mgmt Co. Class A | 0.42% | 99,800 | $902K | Reduce -2.4% |
| DIT Amcon Distributing Co. | 0.41% | 6,002 | $870K | Reduce -1.3% |
| NRIM Northrim Bancorp Inc. | 0.40% | 12,167 | $867K | Reduce -1.6% |
| DHR Danaher Corp. | 0.40% | 3,047 | $847K | No change |
| PG The Procter & Gamble Co. | 0.39% | 4,789 | $829K | Reduce -10.9% |
| SMBK Smartfinancial Inc. | 0.39% | 28,431 | $828K | No change |
| XLE SS Energy Select Sector | 0.38% | 9,383 | $824K | No change |
| GILD Gilead Sciences Inc. | 0.38% | 9,788 | $821K | Reduce -4.4% |
| DLR Digital Realty Trust Inc. | 0.38% | 5,065 | $820K | Reduce -3.4% |
| BAC Bank of America Corp. filed as BANK AMERICA CORP | 0.37% | 20,244 | $803K | Add +0.5% |
| BA The Boeing Co. | 0.37% | 5,180 | $788K | Reduce -3.7% |
| OKE Oneok Inc. | 0.37% | 8,621 | $786K | Reduce -0.5% |
| MPV Barings Participation Invest | 0.36% | 45,747 | $775K | Add +0.8% |
| DUK Duke Energy Corp. | 0.35% | 6,555 | $756K | Reduce -2.7% |
| TLT iShares 20+ Year Treasury BD | 0.35% | 7,592 | $745K | Add +2.0% |
| VTV Vanguard Mrngstr Val ETF-Aui | 0.34% | 4,231 | $739K | Add +4.5% |
| WM Waste Management Inc. | 0.34% | 3,548 | $737K | No change |
| MRK Merck & Co. Inc. | 0.34% | 6,432 | $730K | Reduce -17.3% |
| QCOM Qualcomm Inc. | 0.34% | 4,261 | $725K | Reduce -4.4% |
| ENB Enbridge Inc. | 0.34% | 17,752 | $721K | Add +0.5% |
| CLX Clorox Company | 0.33% | 4,323 | $704K | Reduce -1.7% |
| LDUR PIMCO Enhanced Low Duration | 0.33% | 7,338 | $704K | Add +2.5% |
| HSY The Hershey Co. | 0.33% | 3,633 | $697K | Add +285.7% |
| BRK.A Berkshire Hathaway Inc. Class A | 0.32% | 1 | $691K | No change |
| FSBW FS Bancorp Inc. | 0.32% | 15,468 | $688K | No change |
| KO The Coca-Cola Co. | 0.31% | 9,190 | $660K | Reduce -2.1% |
| INTG Intergroup Corp. | 0.31% | 42,468 | $655K | Reduce -2.9% |
| LGL The LGL Group Inc. | 0.30% | 106,491 | $653K | No change |
| WMT Walmart Inc. | 0.30% | 8,032 | $649K | Reduce -1.5% |
| IMKTA Ingles Markets Inc. Class A | 0.30% | 8,685 | $648K | Reduce -15.2% |
| SBUX Starbucks Corp. | 0.29% | 6,473 | $631K | Reduce -4.8% |
| GOOG Alphabet Inc. Class C | 0.29% | 3,721 | $622K | Reduce -6.1% |
| WMB Williams Cos Inc. | 0.29% | 13,517 | $617K | Reduce -3.6% |
| VDE Vanguard Energy ETF | 0.29% | 5,000 | $612K | No change |
| UNH Unitedhealth Group Inc. | 0.28% | 1,045 | $611K | Reduce -1.5% |
| CET Central Securities Corp. | 0.28% | 13,050 | $598K | No change |
| ONB Old National Bancorp | 0.28% | 32,012 | $597K | No change |
| WLYB Wiley (john) & Sons Class B | 0.27% | 12,134 | $586K | No change |
| MMM 3M Co. | 0.27% | 4,231 | $578K | Reduce -8.0% |
Other holdings (5): bonds, preferreds, convertibles and warrants · $192K (not counted above)
| Security | Class | Shares / Principal | Value | Change |
|---|---|---|---|---|
| EQUITY COMMONWEALTH (EQC 6.5 PERP D) | 6.5% CNV PFD D | 4,200 | $106K | No change |
| RLJ LODGING TRUST (RLJ 1.95 PERP A) | CUM CONV PFD A | 2,600 | $68K | No change |
| VAL.WS Valaris Ltd. -CW28 | *W EXP 04/29/202 | 2,000 | $17K | No change |
| OXY.WS Occidental Petroleum-CW27 | *W EXP 08/03/202 | 31 | $921 | No change |
| EVLVW Evolv Technologies -CW26 | *W EXP 07/16/202 | 500 | $189 | No change |
Total filed on the 13F, all lines: $214.6M.
Portfolio Sells Q2 2024 → Q3 2024
| CSW CSW Industrials Inc. | Reduce -58.0% | 0.60% | −0.50 |
| NWLI National Western Life Grou-A | Sold out | 0.00% | −0.48 |
| CREATIVE MEDIA & CMNTY TR | Reduce -1.0% | 0.09% | −0.45 |
| COST Costco Wholesale Corp. | Reduce -16.0% | 1.44% | −0.30 |
| MSFT Microsoft Corp. | Reduce -3.5% | 1.94% | −0.28 |
| INTC Intel Corp. | Reduce -50.2% | 0.15% | −0.27 |
| CVX Chevron Corp. | Reduce -4.4% | 1.33% | −0.24 |
| V Visa Inc. Class A | Reduce -10.1% | 1.74% | −0.22 |
| NVDA Nvidia Corp. | Reduce -35.7% | 0.26% | −0.18 |
| INTG Intergroup Corp. | Reduce -2.9% | 0.31% | −0.14 |
| MRK Merck & Co. Inc. | Reduce -17.3% | 0.34% | −0.14 |
| DG Dollar General Corp. | Reduce -4.3% | 0.17% | −0.13 |
| LRCX Lam Research Corp. | Sold out | 0.00% | −0.13 |
| AAPL Apple Inc. | Reduce -6.1% | 5.24% | −0.12 |
| BA The Boeing Co. | Reduce -3.7% | 0.37% | −0.12 |
| CL Colgate-Palmolive Co. | Sold out | 0.00% | −0.11 |
| QCOM Qualcomm Inc. | Reduce -4.4% | 0.34% | −0.10 |
| GS Goldman Sachs Group Inc. | Reduce -83.9% | 0.02% | −0.09 |
| KEYS Keysight Technologies Inc. | Reduce -41.5% | 0.13% | −0.07 |
| AMZN Amazon.com Inc. | Reduce -13.3% | 0.27% | −0.07 |
| GOOG Alphabet Inc. Class C | Reduce -6.1% | 0.29% | −0.07 |
| DVN Devon Energy Corp. | Reduce -5.6% | 0.17% | −0.06 |
| NUE Nucor Corp. | Reduce -25.8% | 0.12% | −0.06 |
| NICHOLAS FINL INC BC | Reduce -2.2% | 0.45% | −0.06 |
| PG The Procter & Gamble Co. | Reduce -10.9% | 0.39% | −0.05 |
| VUG Vanguard Mrngstar GR ETF-Sui | Reduce -4.9% | 0.53% | −0.05 |
| IMKTA Ingles Markets Inc. Class A | Reduce -15.2% | 0.30% | −0.05 |
| XOM Exxon Mobil Corp. | Reduce -0.7% | 0.85% | −0.04 |
| F Ford Motor Co. | Reduce -8.1% | 0.10% | −0.04 |
| MO Altria Group Inc. | Reduce -31.2% | 0.10% | −0.04 |
| DIS The Walt Disney Co. | Reduce -7.2% | 0.20% | −0.04 |
| WRK Westrock Co. | Sold out | 0.00% | −0.04 |
| FBMS First Bancshares Inc. | Reduce -33.9% | 0.12% | −0.04 |
| CALB California Bancorp Inc. | Sold out | 0.00% | −0.03 |
| PFE Pfizer Inc. | Reduce -0.7% | 1.00% | −0.03 |
| SMID Smith-Midland Corp. | Reduce -41.3% | 0.07% | −0.03 |
| VOO Vanguard S&P 500 ETF | Reduce -16.6% | 0.16% | −0.03 |
| AVGO Broadcom Inc. | Reduce -17.9% | 0.16% | −0.03 |
| JPM JPMorgan Chase & Co. | Reduce -1.4% | 0.92% | −0.03 |
| AMAT Applied Materials Inc. | Reduce -12.7% | 0.07% | −0.03 |
| USFR Wisdomtree Floating Rate Tre | Reduce -5.7% | 0.23% | −0.03 |
| ATMU Atmus Filtration Technologie | Reduce -87.5% | 0.01% | −0.03 |
| CRWD CrowdStrike Holdings Inc. Class A | Reduce -93.8% | 0.00% | −0.03 |
| PEP Pepsico Inc. | Reduce -0.3% | 0.81% | −0.03 |
| KNTK Kinetik Holdings Inc. | Reduce -4.1% | 1.83% | −0.03 |
| HE Hawaiian Electric Inds | Sold out | 0.00% | −0.03 |
| MU Micron Technology Inc. | Reduce -44.8% | 0.02% | −0.03 |
| IVV iShares Core S&P 500 ETF | Reduce -0.9% | 1.35% | −0.02 |
| CRM Salesforce Inc. | Reduce -38.2% | 0.04% | −0.02 |
| TSM Taiwan Semiconductor-SP ADR | Reduce -66.0% | 0.01% | −0.02 |
Portfolio Buys Q2 2024 → Q3 2024
| FSUN Firstsun Capital Bancorp | New | 1.26% | +1.26 |
| PPIH Perma-Pipe International Hol | Add +0.0% | 1.38% | +0.38 |
| BRK.B Berkshire Hathaway Inc. Class B | Add +23.9% | 1.08% | +0.26 |
| KVUE Kenvue Inc. | Add +2058.5% | 0.25% | +0.24 |
| HSY The Hershey Co. | Add +285.7% | 0.33% | +0.24 |
| DGICA Donegal Group Inc. Class A | Add +1.3% | 1.62% | +0.14 |
| CLMT Calumet Inc. | New | 0.12% | +0.12 |
| UMH Umh Properties Inc. | Add +0.8% | 0.85% | +0.12 |
| BCML Baycom Corp. | Add +3.5% | 0.93% | +0.11 |
| LRCX Lam Research Corp. | New | 0.08% | +0.08 |
| VAL Valaris Ltd. | New | 0.07% | +0.07 |
| JPST JPMorgan Ultra-Short Income | Add +192.7% | 0.11% | +0.07 |
| T AT&T Inc. | Add +1.2% | 0.48% | +0.04 |
| BCAL California Bancorp | New | 0.04% | +0.04 |
| BMRC Bank of Marin Bancorp | Add +1.0% | 0.22% | +0.03 |
| CCI Crown Castle Inc. | Add +1.4% | 0.24% | +0.03 |
| ENB Enbridge Inc. | Add +0.5% | 0.34% | +0.02 |
| VTV Vanguard Mrngstr Val ETF-Aui | Add +4.5% | 0.34% | +0.02 |
| VZ Verizon Communications Inc. | Add +1.9% | 0.52% | +0.02 |
| JNJ Johnson & Johnson | Add +0.3% | 0.46% | +0.02 |
| UNP Union Pacific Corp. | Add +0.0% | 0.71% | +0.02 |
| WRB WR Berkley Corp. | Add +74.1% | 0.03% | +0.01 |
| MDT Medtronic PLC | Add +1.2% | 0.16% | +0.01 |
| SVM Silvercorp Metals Inc. | New | 0.01% | +0.01 |
| ETHE Grayscale Ethereum Staking E | New | 0.01% | +0.01 |
| SGOL Abrdn Physical Gold Shares | Add +1.4% | 0.13% | +0.01 |
| BCE Bce Inc. | Add +3.9% | 0.19% | +0.01 |
| TLT iShares 20+ Year Treasury BD | Add +2.0% | 0.35% | +0.01 |
| DGICB Donegal Group Inc. Class B | Add +21.0% | 0.03% | +0.01 |
| BIPC Brookfield Infrastructure-A | Add +1.9% | 0.04% | +0.01 |
| ZIM Zim Integrated Shipping Serv | New | 0.01% | +0.01 |
| RWT Redwood Trust Inc. | Add +36.8% | 0.02% | +0.01 |
| GLD SPDR Gold Shares | Add +35.1% | 0.02% | +0.01 |
| SCHD Schwab US DVD Equity ETF | Add +4.2% | 0.11% | +0.01 |
| VEA Vanguard Ftse Developed ETF | Add +4.5% | 0.13% | +0.01 |
| DHS Wisdomtree US High Dividend | Add +4.1% | 0.07% | +0.01 |
| REGL Prshrs S&P Mid 400 DVD Arist | Add +0.7% | 0.11% | +0.01 |
| SPG Simon Property Group Inc. | Add +9.4% | 0.04% | +0.01 |
| APD Air Products & Chemicals Inc. | Add +0.7% | 0.06% | +0.01 |
| DEA Easterly Govt Pptys Inc. | Add +39.0% | 0.02% | +0.00 |
| BEPC Brookfield Renewable Cor-A | Add +2.8% | 0.05% | +0.00 |
| VO Vngrd Mrngstr MD-Cap ETF-Usd | Add +0.3% | 0.17% | +0.00 |
| SO The Southern Co. | Add +0.1% | 0.05% | +0.00 |
| WESTELL TECHNOLOGIES INC-A | New | 0.00% | +0.00 |
| SMDV Proshrs RSL 2000 DVD GRW ETF | Add +1.3% | 0.06% | +0.00 |
| SDRL Seadrill Limited | Add +92.9% | 0.01% | +0.00 |
| GDX Vaneck Gold Miners ETF | Add +14.7% | 0.02% | +0.00 |
| EBAY eBay Inc. | Add +36.0% | 0.01% | +0.00 |
| VB Vanguard Most SM-Cap ETF-Usd | Add +0.9% | 0.10% | +0.00 |
| COWZ Pacer US Cash Cows 100 ETF | Add +8.2% | 0.04% | +0.00 |
Notes & Other Activity Q2 2024 → Q3 2024
| NXG NEXTGEN INFRAS | RIGHT 07/17/2024 | Sold out | 2,769 | $2Kbefore exit |
Bonds, preferreds, convertibles and warrants; not part of the stock holdings or percentages above.
All Filings
| Quarter | Positions | 13F Reported Value | Top Holdings |
|---|---|---|---|
| Q2 2026 | 925 | $265.2M | AAPL, CAT, PPIH, PLBC, KNTK |
| Q1 2026 | 888 | $245.8M | AAPL, PPIH, CAT, KNTK, PLBC |
| Q4 2025 | 873 | $235.8M | AAPL, PPIH, MSA, CAT, PLBC |
| Q3 2025 | 866 | $234.1M | AAPL, MSA, PPIH, PLBC, V |
| Q2 2025 | 853 | $218.3M | AAPL, MSA, PPIH, V, DGICA |
| Q1 2025 | 885 | $210.2M | AAPL, V, MSA, DGICA, KNTK |
| Q4 2024 | 894 | $214.8M | AAPL, MSA, V, KNTK, MSFT |
| Q3 2024 | 902 | $214.4M | AAPL, MSA, MSFT, KNTK, V |
| Q2 2024 | 919 | $201.9M | AAPL, MSA, MSFT, V, KNTK |
| Q1 2024 | 916 | $207.6M | AAPL, MSA, V, MSFT, CAT |