Caldwell Sutter Capital, Inc.
In its 13F for Q4 2024 (holdings as of December 31, 2024, filed January 21, 2025), Caldwell Sutter Capital, Inc. reported 894 stock positions worth $214.8 million. Its top holding was Apple (AAPL) at 5.8% of the portfolio, followed by Msa Safety (MSA, 2.6%) and Visa Class A (V, 2.2%). Compared with Q3 2024, it opened 23 new positions, sold out of 33, added to 123 and reduced 152. The biggest buy was Apple (AAPL, shares +4%) and the biggest sale Gold.com (GOLD, shares −1%).
- Most Recent 13F
- Q2 2026
- Location
- SAUSALITO, CA
- CIK
- 0000702007
- Portfolio Value
- $214.8M (Q4 2024)
- SEC Filing
- 0001415889-25-001734 ↗ filed Jan 21, 2025
Holdings Value
Holdings 894 stocks · $214.8M
| AAPL Apple Inc. | 5.85% | 50,178 | $12.6M | Add +4.0% |
| MSA Msa Safety Inc. | 2.62% | 33,999 | $5.6M | Reduce -1.2% |
| V Visa Inc. Class A | 2.15% | 14,633 | $4.6M | Add +8.1% |
| KNTK Kinetik Holdings Inc. | 1.95% | 73,960 | $4.2M | Reduce -14.7% |
| MSFT Microsoft Corp. | 1.84% | 9,376 | $4.0M | Reduce -2.9% |
| DGICA Donegal Group Inc. Class A | 1.70% | 236,011 | $3.7M | Reduce -0.1% |
| PPIH Perma-Pipe International Hol | 1.58% | 227,596 | $3.4M | Reduce -0.2% |
| CAT Caterpillar Inc. | 1.56% | 9,258 | $3.4M | Reduce -1.2% |
| CVX Chevron Corp. | 1.38% | 20,440 | $3.0M | Add +5.2% |
| COST Costco Wholesale Corp. | 1.37% | 3,217 | $2.9M | Reduce -7.4% |
| IVV iShares Core S&P 500 ETF | 1.37% | 4,999 | $2.9M | Reduce -0.2% |
| INBK First Internet Bancorp | 1.21% | 72,506 | $2.6M | Reduce -0.8% |
| FSUN Firstsun Capital Bancorp | 1.19% | 63,666 | $2.5M | No change |
| VIG Vanguard Dividend Apprec ETF | 1.18% | 12,972 | $2.5M | Reduce -1.1% |
| JPM JPMorgan Chase & Co. | 1.13% | 10,110 | $2.4M | Add +7.6% |
| NEN New England Realty Assoc-LP | 1.13% | 30,376 | $2.4M | No change |
| BRK.B Berkshire Hathaway Inc. Class B | 1.12% | 5,304 | $2.4M | Add +5.8% |
| BCML Baycom Corp. | 1.05% | 83,847 | $2.3M | Reduce -0.2% |
| AXP American Express Co. | 1.02% | 7,419 | $2.2M | No change |
| BANR Banner Corporation | 0.98% | 31,492 | $2.1M | Reduce -4.2% |
| KYN Kayne Anderson Energy Infra | 0.97% | 163,362 | $2.1M | Reduce -0.6% |
| IBM Intl Business Machines Corp. filed as INTERNATIONAL BUSINESS MACHS | 0.94% | 9,224 | $2.0M | Add +4.8% |
| MOD Modine Manufacturing Co. | 0.94% | 17,439 | $2.0M | Reduce -4.9% |
| PKBK Parke Bancorp Inc. | 0.91% | 95,415 | $2.0M | No change |
| SSBI Summit State Bank | 0.88% | 247,670 | $1.9M | Add +8.4% |
| META Meta Platforms Inc. Class A | 0.87% | 3,183 | $1.9M | Reduce -1.2% |
| VTI VG Morningstar TS MKT ETF-US | 0.85% | 6,278 | $1.8M | No change |
| CSCO Cisco Systems Inc. | 0.84% | 30,453 | $1.8M | Add +8.3% |
| NAII Natural Alternatives Intl | 0.83% | 412,475 | $1.8M | Reduce -0.5% |
| PFE Pfizer Inc. | 0.81% | 65,670 | $1.7M | Reduce -11.5% |
| UMH Umh Properties Inc. filed as UMH PPTYS INC | 0.81% | 92,194 | $1.7M | No change |
| IGM iShares Expanded Tech Sector | 0.80% | 16,902 | $1.7M | No change |
| MCI Barings Corporate Investors | 0.80% | 84,614 | $1.7M | No change |
| SENEA Seneca Foods Corp. Class A | 0.79% | 21,306 | $1.7M | No change |
| XOM Exxon Mobil Corp. | 0.78% | 15,609 | $1.7M | Add +0.4% |
| AXR Amrep Corp. | 0.76% | 52,272 | $1.6M | Reduce -0.6% |
| PEP Pepsico Inc. | 0.72% | 10,105 | $1.5M | Reduce -1.2% |
| WLY Wiley (john) & Sons Class A | 0.69% | 33,936 | $1.5M | No change |
| CWBC Community West Bancshares | 0.67% | 74,705 | $1.4M | No change |
| UNP Union Pacific Corp. | 0.66% | 6,188 | $1.4M | Add +0.1% |
| BSM Black Stone Minerals LP | 0.63% | 92,490 | $1.4M | Add +0.7% |
| HD Home Depot Inc. | 0.60% | 3,317 | $1.3M | Reduce -7.3% |
| ELSE Electro-Sensors Inc. | 0.59% | 246,619 | $1.3M | Add +3.1% |
| GOLD Gold.com Inc. filed as A-MARK PRECIOUS METALS INC | 0.58% | 45,502 | $1.2M | Reduce -1.3% |
| VUG Vanguard Mrngstar GR ETF-Sui | 0.56% | 2,929 | $1.2M | Reduce -1.7% |
| BOND PIMCO Active Bond Exchange-T | 0.56% | 13,191 | $1.2M | Add +4.1% |
| CSW CSW Industrials Inc. | 0.54% | 3,312 | $1.2M | Reduce -5.7% |
| ARL American Realty Investors Inc. | 0.53% | 77,877 | $1.1M | Reduce -1.3% |
| HON Honeywell International Inc. | 0.53% | 5,041 | $1.1M | No change |
| WM Waste Management Inc. | 0.53% | 5,599 | $1.1M | Add +57.8% |
| ABBV Abbvie Inc. | 0.51% | 6,190 | $1.1M | Add +11.7% |
| T AT&T Inc. | 0.49% | 46,215 | $1.1M | Reduce -0.4% |
| MCD McDonald's Corp. | 0.49% | 3,610 | $1.0M | Add +7.9% |
| VZ Verizon Communications Inc. | 0.49% | 26,154 | $1.0M | Add +4.5% |
| ITIC Investors Title Co. | 0.47% | 4,293 | $1.0M | Reduce -2.3% |
| MNTX Manitex International Inc. | 0.46% | 170,725 | $990K | No change |
| CP Canadian Pacific Kansas City | 0.45% | 13,250 | $959K | No change |
| NRIM Northrim Bancorp Inc. | 0.44% | 12,167 | $948K | No change |
| JNJ Johnson & Johnson | 0.43% | 6,423 | $929K | Add +6.4% |
| CSWC Capital Southwest Corp. | 0.43% | 42,428 | $926K | Reduce -1.9% |
| NICHOLAS FINL INC BC filed as OLD MKT CAP CORP | 0.43% | 142,321 | $914K | Reduce -7.3% |
| AIV Apartment Invt & Mgmt Co. Class A | 0.42% | 99,800 | $907K | No change |
| DLR Digital Realty Trust Inc. | 0.42% | 5,094 | $903K | Add +0.6% |
| GILD Gilead Sciences Inc. | 0.42% | 9,707 | $897K | Reduce -0.8% |
| BAC Bank of America Corp. filed as BANK AMERICA CORP | 0.42% | 20,373 | $895K | Add +0.6% |
| SMBK Smartfinancial Inc. | 0.41% | 28,431 | $881K | No change |
| WMT Walmart Inc. | 0.40% | 9,536 | $862K | Add +18.7% |
| OKE Oneok Inc. | 0.40% | 8,476 | $851K | Reduce -1.7% |
| BA The Boeing Co. | 0.39% | 4,790 | $848K | Reduce -7.5% |
| XLE SS Energy Select Sector | 0.39% | 9,883 | $847K | Add +5.3% |
| ENB Enbridge Inc. | 0.39% | 19,760 | $838K | Add +11.3% |
| TLT iShares 20+ Year Treasury BD | 0.39% | 9,488 | $829K | Add +25.0% |
| PG The Procter & Gamble Co. | 0.37% | 4,783 | $802K | Reduce -0.1% |
| LMT Lockheed Martin Corp. | 0.37% | 1,647 | $800K | Add +1.8% |
| GOOG Alphabet Inc. Class C | 0.37% | 4,174 | $795K | Add +12.2% |
| MPV Barings Participation Invest | 0.36% | 45,197 | $772K | Reduce -1.2% |
| DIT Amcon Distributing Co. | 0.36% | 6,002 | $769K | No change |
| VTV Vanguard Mrngstr Val ETF-Aui | 0.35% | 4,395 | $744K | Add +3.9% |
| LDUR PIMCO Enhanced Low Duration | 0.34% | 7,740 | $735K | Add +5.5% |
| AMZN Amazon.com Inc. | 0.33% | 3,276 | $719K | Add +7.5% |
| DUK Duke Energy Corp. | 0.33% | 6,590 | $710K | Add +0.5% |
| WMB Williams Cos Inc. | 0.33% | 13,083 | $708K | Reduce -3.2% |
| HSY The Hershey Co. | 0.33% | 4,150 | $703K | Add +14.2% |
| DHR Danaher Corp. | 0.33% | 3,047 | $699K | No change |
| ONB Old National Bancorp | 0.32% | 32,012 | $695K | No change |
| CLX Clorox Company | 0.32% | 4,276 | $694K | Reduce -1.1% |
| BRK.A Berkshire Hathaway Inc. Class A | 0.32% | 1 | $681K | No change |
| MCHB Mechanics Bancorp Class A filed as HOMESTREET INC | 0.31% | 58,000 | $662K | Reduce -2.5% |
| MRK Merck & Co. Inc. | 0.30% | 6,519 | $649K | Add +1.4% |
| QCOM Qualcomm Inc. | 0.30% | 4,193 | $644K | Reduce -1.6% |
| FSBW FS Bancorp Inc. | 0.30% | 15,468 | $635K | No change |
| XLF SS Financial Select Sector | 0.29% | 13,044 | $630K | Add +13.0% |
| GOOGL Alphabet Inc. Class A | 0.29% | 3,293 | $623K | Reduce -3.4% |
| USFR Wisdomtree Floating Rate Tre | 0.29% | 12,369 | $622K | Add +24.3% |
| SSBK Southern States Bancshares | 0.29% | 18,594 | $619K | No change |
| LGL The LGL Group Inc. | 0.29% | 103,235 | $616K | Reduce -3.1% |
| BNY Bank of New York Mellon Corp. filed as BANK NEW YORK MELLON CORP | 0.28% | 7,943 | $610K | No change |
| VDE Vanguard Energy ETF | 0.28% | 5,000 | $607K | No change |
| SBUX Starbucks Corp. | 0.28% | 6,588 | $601K | Add +1.8% |
| GKOS Glaukos Corp. | 0.27% | 3,913 | $587K | No change |
Other holdings (4): bonds, preferreds, convertibles and warrants · $79K (not counted above)
| Security | Class | Shares / Principal | Value | Change |
|---|---|---|---|---|
| RLJ LODGING TRUST (RLJ 1.95 PERP A) | CUM CONV PFD A | 2,600 | $64K | No change |
| VAL.WS Valaris Ltd. -CW28 | *W EXP 04/29/202 | 2,000 | $14K | No change |
| OXY.WS Occidental Petroleum-CW27 | *W EXP 08/03/202 | 49 | $1K | Add +58.1% |
| EVLVW Evolv Technologies -CW26 | *W EXP 07/16/202 | 500 | $150 | No change |
Total filed on the 13F, all lines: $214.9M.
Portfolio Sells Q3 2024 → Q4 2024
| GOLD Gold.com Inc. | Reduce -1.3% | 0.58% | −0.37 |
| NAII Natural Alternatives Intl | Reduce -0.5% | 0.83% | −0.28 |
| MSA Msa Safety Inc. | Reduce -1.2% | 2.62% | −0.22 |
| MOD Modine Manufacturing Co. | Reduce -4.9% | 0.94% | −0.19 |
| PFE Pfizer Inc. | Reduce -11.5% | 0.81% | −0.19 |
| ORCL Oracle Corp. | Reduce -73.9% | 0.06% | −0.18 |
| CAT Caterpillar Inc. | Reduce -1.2% | 1.56% | −0.15 |
| DVN Devon Energy Corp. | Reduce -81.3% | 0.03% | −0.14 |
| MCHB Mechanics Bancorp Class A | Reduce -2.5% | 0.31% | −0.13 |
| ARL American Realty Investors Inc. | Reduce -1.3% | 0.53% | −0.11 |
| MSFT Microsoft Corp. | Reduce -2.9% | 1.84% | −0.10 |
| PEP Pepsico Inc. | Reduce -1.2% | 0.72% | −0.10 |
| CREATIVE MEDIA & CMNTY TR | Sold out | 0.00% | −0.09 |
| CSWC Capital Southwest Corp. | Reduce -1.9% | 0.43% | −0.08 |
| HD Home Depot Inc. | Reduce -7.3% | 0.60% | −0.08 |
| BCE Bce Inc. | Reduce -8.4% | 0.12% | −0.08 |
| CCI Crown Castle Inc. | Reduce -8.7% | 0.17% | −0.07 |
| DOW Dow Inc. | Reduce -3.1% | 0.16% | −0.07 |
| COST Costco Wholesale Corp. | Reduce -7.4% | 1.37% | −0.06 |
| UNH Unitedhealth Group Inc. | Reduce -9.0% | 0.22% | −0.06 |
| CSW CSW Industrials Inc. | Reduce -5.7% | 0.54% | −0.06 |
| O Realty Income Corp. | Reduce -11.2% | 0.16% | −0.05 |
| AMGN Amgen Inc. | Reduce -0.1% | 0.22% | −0.05 |
| MPTI M-Tron Industries Inc. | Reduce -70.5% | 0.03% | −0.05 |
| NEE Nextera Energy Inc. | Reduce -3.7% | 0.21% | −0.05 |
| KO The Coca-Cola Co. | Reduce -0.6% | 0.26% | −0.04 |
| QCOM Qualcomm Inc. | Reduce -1.6% | 0.30% | −0.04 |
| DG Dollar General Corp. | Reduce -11.3% | 0.14% | −0.04 |
| INTC Intel Corp. | Reduce -11.3% | 0.11% | −0.04 |
| ET Energy Transfer LP | Reduce -39.1% | 0.10% | −0.04 |
| INTG Intergroup Corp. | Reduce -4.2% | 0.27% | −0.04 |
| IBB iShares Biotechnology ETF | Reduce -19.6% | 0.09% | −0.04 |
| GIS General Mills Inc. | Reduce -4.4% | 0.14% | −0.03 |
| NVDA Nvidia Corp. | Reduce -19.8% | 0.23% | −0.03 |
| NICHOLAS FINL INC BC | Reduce -7.3% | 0.43% | −0.03 |
| VIG Vanguard Dividend Apprec ETF | Reduce -1.1% | 1.18% | −0.03 |
| GAIN Gladstone Investment Corp. | Reduce -82.1% | 0.00% | −0.03 |
| MMM 3M Co. | Reduce -3.7% | 0.24% | −0.02 |
| GPMT Granite Point Mortgage Trust | Reduce -32.4% | 0.04% | −0.02 |
| NXDT Nexpoint Diversified Real Es | Reduce -24.0% | 0.07% | −0.02 |
| STGW Stagwell Inc. | Reduce -6.9% | 0.16% | −0.02 |
| KMB Kimberly-Clark Corp. | Reduce -2.6% | 0.20% | −0.02 |
| UPS United Parcel Service Class B | Reduce -1.4% | 0.23% | −0.02 |
| MDT Medtronic PLC | Reduce -1.8% | 0.14% | −0.02 |
| D Dominion Energy Inc. | Reduce -4.5% | 0.15% | −0.02 |
| CPB The Campbell's Company | Reduce -13.0% | 0.05% | −0.02 |
| ILPT Industrial Logistics Propert | Reduce -17.7% | 0.03% | −0.02 |
| LGL The LGL Group Inc. | Reduce -3.1% | 0.29% | −0.02 |
| PFF iShares Preferred & Income S | Reduce -35.1% | 0.03% | −0.02 |
| GSK GSK PLC-Spon ADR | Reduce -3.0% | 0.06% | −0.02 |
Portfolio Buys Q3 2024 → Q4 2024
| AAPL Apple Inc. | Add +4.0% | 5.85% | +0.61 |
| V Visa Inc. Class A | Add +8.1% | 2.15% | +0.42 |
| JPM JPMorgan Chase & Co. | Add +7.6% | 1.13% | +0.20 |
| WM Waste Management Inc. | Add +57.8% | 0.53% | +0.18 |
| ELSE Electro-Sensors Inc. | Add +3.1% | 0.59% | +0.16 |
| CSCO Cisco Systems Inc. | Add +8.3% | 0.84% | +0.14 |
| EQC Equity Commonwealth | Add +3121.2% | 0.15% | +0.10 |
| WMT Walmart Inc. | Add +18.7% | 0.40% | +0.10 |
| BRBS Blue Ridge Bankshares Inc. | New | 0.08% | +0.08 |
| GOOG Alphabet Inc. Class C | Add +12.2% | 0.37% | +0.08 |
| AMZN Amazon.com Inc. | Add +7.5% | 0.33% | +0.07 |
| WELL Welltower Inc. | Add +47.5% | 0.22% | +0.07 |
| WRB WR Berkley Corp. | Add +180.8% | 0.09% | +0.06 |
| AVGO Broadcom Inc. | Add +1.6% | 0.22% | +0.06 |
| USFR Wisdomtree Floating Rate Tre | Add +24.3% | 0.29% | +0.06 |
| ENB Enbridge Inc. | Add +11.3% | 0.39% | +0.05 |
| VAL Valaris Ltd. | Add +116.2% | 0.12% | +0.05 |
| MO Altria Group Inc. | Add +47.7% | 0.15% | +0.05 |
| XLF SS Financial Select Sector | Add +13.0% | 0.29% | +0.05 |
| JPST JPMorgan Ultra-Short Income | Add +44.5% | 0.15% | +0.05 |
| UTF Cohen & Steers Infrastructur | New | 0.04% | +0.04 |
| IEI iShares 3-7 Year Treasury Bo | Add +47.0% | 0.15% | +0.04 |
| CVX Chevron Corp. | Add +5.2% | 1.38% | +0.04 |
| BRK.B Berkshire Hathaway Inc. Class B | Add +5.8% | 1.12% | +0.04 |
| BAC Bank of America Corp. | Add +0.6% | 0.42% | +0.04 |
| DIS The Walt Disney Co. | Add +4.3% | 0.24% | +0.04 |
| TLT iShares 20+ Year Treasury BD | Add +25.0% | 0.39% | +0.04 |
| DLR Digital Realty Trust Inc. | Add +0.6% | 0.42% | +0.04 |
| SHY iShares 1-3 Year Treasury Bo | Add +28.0% | 0.18% | +0.04 |
| SW Smurfit Westrock PLC | New | 0.04% | +0.04 |
| IBM Intl Business Machines Corp. | Add +4.8% | 0.94% | +0.04 |
| PLTR Palantir Technologies Inc. Class A | New | 0.03% | +0.03 |
| KMI Kinder Morgan Inc. | Add +0.1% | 0.17% | +0.03 |
| WFC Wells Fargo & Co. | Add +0.0% | 0.15% | +0.03 |
| IEF iShares 7-10 Year Treasury B | Add +59.2% | 0.08% | +0.03 |
| CREATIVE MEDIA & CMNTY TR | New | 0.02% | +0.02 |
| ED Consolidated Edison Inc. | Add +35.8% | 0.15% | +0.02 |
| PMDI Psychemedics Corp. | New | 0.02% | +0.02 |
| BORR Borr Drilling Ltd. | New | 0.02% | +0.02 |
| BMY Bristol-Myers Squibb Co. | Add +3.6% | 0.14% | +0.02 |
| SGOL Abrdn Physical Gold Shares | Add +11.8% | 0.14% | +0.01 |
| LDUR PIMCO Enhanced Low Duration | Add +5.5% | 0.34% | +0.01 |
| MS Morgan Stanley | Add +4.5% | 0.06% | +0.01 |
| MCD McDonald's Corp. | Add +7.9% | 0.49% | +0.01 |
| SCHD Schwab US DVD Equity ETF | Add +14.7% | 0.12% | +0.01 |
| XLE SS Energy Select Sector | Add +5.3% | 0.39% | +0.01 |
| ICOW Pacer Developed Markets Inte | Add +48.9% | 0.03% | +0.01 |
| DHS Wisdomtree US High Dividend | Add +13.0% | 0.08% | +0.01 |
| BTC Grayscale Bitcoin Mini ETF | Add +2275.0% | 0.01% | +0.01 |
| EPD Enterprise Products Partners | Add +0.8% | 0.11% | +0.01 |
Notes & Other Activity Q3 2024 → Q4 2024
| EQUITY COMMONWEALTH (EQC 6.5 PERP D) | 6.5% CNV PFD D | Sold out | 4,200 | $106Kbefore exit |
| OXY.WS Occidental Petroleum-CW27 | *W EXP 08/03/202 | Add +58.1% | 49 | $1K |
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 |