Caldwell Sutter Capital, Inc.
In its 13F for Q1 2025 (holdings as of March 31, 2025, filed April 16, 2025), Caldwell Sutter Capital, Inc. reported 885 stock positions worth $210.2 million. Its top holding was Apple (AAPL) at 5.1% of the portfolio, followed by Visa Class A (V, 2.4%) and Msa Safety (MSA, 2.4%). Compared with Q4 2024, it opened 28 new positions, sold out of 38, added to 128 and reduced 204. The biggest buy was Intuit (INTU, shares +8400%) and the biggest sale Apple (AAPL, shares −4%).
- Most Recent 13F
- Q2 2026
- Location
- SAUSALITO, CA
- CIK
- 0000702007
- Portfolio Value
- $210.2M (Q1 2025)
- SEC Filing
- 0001415889-25-010784 ↗ filed Apr 16, 2025
Holdings Value
Holdings 885 stocks · $210.2M
| AAPL Apple Inc. | 5.10% | 48,279 | $10.7M | Reduce -3.8% |
| V Visa Inc. Class A | 2.38% | 14,295 | $5.0M | Reduce -2.3% |
| MSA Msa Safety Inc. | 2.37% | 33,999 | $5.0M | No change |
| DGICA Donegal Group Inc. Class A | 2.18% | 232,911 | $4.6M | Reduce -1.3% |
| KNTK Kinetik Holdings Inc. | 1.81% | 73,210 | $3.8M | Reduce -1.0% |
| BRK.B Berkshire Hathaway Inc. Class B | 1.69% | 6,685 | $3.6M | Add +26.0% |
| MSFT Microsoft Corp. | 1.60% | 8,973 | $3.4M | Reduce -4.3% |
| CVX Chevron Corp. | 1.49% | 18,668 | $3.1M | Reduce -8.7% |
| CAT Caterpillar Inc. | 1.45% | 9,262 | $3.1M | Add +0.0% |
| COST Costco Wholesale Corp. | 1.40% | 3,104 | $2.9M | Reduce -3.5% |
| SSBI Summit State Bank | 1.38% | 313,104 | $2.9M | Add +26.4% |
| PPIH Perma-Pipe International Hol | 1.34% | 226,096 | $2.8M | Reduce -0.7% |
| IVV iShares Core S&P 500 ETF | 1.32% | 4,937 | $2.8M | Reduce -1.2% |
| VIG Vanguard Dividend Apprec ETF | 1.21% | 13,115 | $2.5M | Add +1.1% |
| NEN New England Realty Assoc-LP | 1.18% | 30,426 | $2.5M | Add +0.2% |
| JPM JPMorgan Chase & Co. | 1.12% | 9,572 | $2.3M | Reduce -5.3% |
| FSUN Firstsun Capital Bancorp | 1.09% | 63,405 | $2.3M | Reduce -0.4% |
| IBM Intl Business Machines Corp. filed as INTERNATIONAL BUSINESS MACHS | 1.06% | 8,971 | $2.2M | Reduce -2.7% |
| INTU Intuit Inc. | 0.99% | 3,400 | $2.1M | Add +8400.0% |
| BCML Baycom Corp. | 0.99% | 82,619 | $2.1M | Reduce -1.5% |
| KYN Kayne Anderson Energy Infra | 0.96% | 157,402 | $2.0M | Reduce -3.6% |
| AXP American Express Co. | 0.95% | 7,409 | $2.0M | Reduce -0.1% |
| MCI Barings Corporate Investors | 0.94% | 84,614 | $2.0M | No change |
| INBK First Internet Bancorp | 0.91% | 71,506 | $1.9M | Reduce -1.4% |
| SENEA Seneca Foods Corp. Class A | 0.90% | 21,206 | $1.9M | Reduce -0.5% |
| BANR Banner Corporation | 0.89% | 29,492 | $1.9M | Reduce -6.3% |
| META Meta Platforms Inc. Class A | 0.87% | 3,189 | $1.8M | Add +0.2% |
| XOM Exxon Mobil Corp. | 0.87% | 15,297 | $1.8M | Reduce -2.0% |
| CSCO Cisco Systems Inc. | 0.86% | 29,277 | $1.8M | Reduce -3.9% |
| PKBK Parke Bancorp Inc. | 0.85% | 94,510 | $1.8M | Reduce -0.9% |
| VTI VG Morningstar TS MKT ETF-US | 0.82% | 6,278 | $1.7M | No change |
| UMH Umh Properties Inc. filed as UMH PPTYS INC | 0.80% | 90,194 | $1.7M | Reduce -2.2% |
| PFE Pfizer Inc. | 0.78% | 64,457 | $1.6M | Reduce -1.9% |
| PEP Pepsico Inc. | 0.77% | 10,774 | $1.6M | Add +6.6% |
| IGM iShares Expanded Tech Sector | 0.73% | 16,902 | $1.5M | No change |
| WLY Wiley (john) & Sons Class A | 0.72% | 33,936 | $1.5M | No change |
| UNP Union Pacific Corp. | 0.70% | 6,257 | $1.5M | Add +1.1% |
| NAII Natural Alternatives Intl | 0.69% | 420,890 | $1.4M | Add +2.0% |
| CWBC Community West Bancshares | 0.65% | 74,077 | $1.4M | Reduce -0.8% |
| MOD Modine Manufacturing Co. | 0.64% | 17,439 | $1.3M | No change |
| HD Home Depot Inc. | 0.62% | 3,563 | $1.3M | Add +7.4% |
| ABBV Abbvie Inc. | 0.59% | 5,963 | $1.2M | Reduce -3.7% |
| T AT&T Inc. | 0.58% | 42,907 | $1.2M | Reduce -7.2% |
| BOND PIMCO Active Bond Exchange-T | 0.58% | 13,114 | $1.2M | Reduce -0.6% |
| WM Waste Management Inc. | 0.56% | 5,099 | $1.2M | Reduce -8.9% |
| VZ Verizon Communications Inc. | 0.55% | 25,709 | $1.2M | Reduce -1.7% |
| MCD McDonald's Corp. | 0.55% | 3,725 | $1.2M | Add +3.2% |
| GOLD Gold.com Inc. filed as A-MARK PRECIOUS METALS INC | 0.53% | 44,202 | $1.1M | Reduce -2.9% |
| ELSE Electro-Sensors Inc. | 0.51% | 243,986 | $1.1M | Reduce -1.1% |
| JNJ Johnson & Johnson | 0.51% | 6,458 | $1.1M | Add +0.5% |
| HON Honeywell International Inc. | 0.51% | 5,041 | $1.1M | No change |
| VUG Vanguard Mrngstar GR ETF-Sui | 0.49% | 2,789 | $1.0M | Reduce -4.8% |
| ITIC Investors Title Co. | 0.49% | 4,240 | $1.0M | Reduce -1.2% |
| AXR Amrep Corp. | 0.48% | 50,772 | $1.0M | Reduce -2.9% |
| GILD Gilead Sciences Inc. | 0.48% | 9,010 | $1.0M | Reduce -7.2% |
| HSY The Hershey Co. | 0.48% | 5,894 | $1.0M | Add +42.0% |
| CSW CSW Industrials Inc. | 0.46% | 3,312 | $966K | No change |
| CSWC Capital Southwest Corp. | 0.44% | 41,728 | $931K | Reduce -1.6% |
| CP Canadian Pacific Kansas City | 0.44% | 13,250 | $930K | No change |
| AIV Apartment Invt & Mgmt Co. Class A | 0.44% | 104,800 | $922K | Add +5.0% |
| XLE SS Energy Select Sector | 0.44% | 9,798 | $916K | Reduce -0.9% |
| SMBK Smartfinancial Inc. | 0.42% | 28,431 | $884K | No change |
| TLT iShares 20+ Year Treasury BD | 0.42% | 9,707 | $884K | Add +2.3% |
| BAC Bank of America Corp. filed as BANK AMERICA CORP | 0.42% | 21,161 | $883K | Add +3.9% |
| NRIM Northrim Bancorp Inc. | 0.41% | 11,801 | $864K | Reduce -3.0% |
| BSM Black Stone Minerals LP | 0.41% | 55,790 | $852K | Reduce -39.7% |
| ARL American Realty Investors Inc. | 0.40% | 77,501 | $849K | Reduce -0.5% |
| NICHOLAS FINL INC BC filed as OLD MKT CAP CORP | 0.40% | 140,159 | $844K | Reduce -1.5% |
| ENB Enbridge Inc. | 0.39% | 18,513 | $820K | Reduce -6.3% |
| WMT Walmart Inc. | 0.39% | 9,284 | $815K | Reduce -2.6% |
| PG The Procter & Gamble Co. | 0.38% | 4,703 | $802K | Reduce -1.7% |
| BRK.A Berkshire Hathaway Inc. Class A | 0.38% | 1 | $798K | No change |
| MPV Barings Participation Invest | 0.38% | 45,197 | $797K | No change |
| OKE Oneok Inc. | 0.37% | 7,871 | $781K | Reduce -7.1% |
| BA The Boeing Co. | 0.37% | 4,544 | $775K | Reduce -5.1% |
| DUK Duke Energy Corp. | 0.36% | 6,257 | $763K | Reduce -5.0% |
| VTV Vanguard Mrngstr Val ETF-Aui | 0.36% | 4,407 | $761K | Add +0.3% |
| LDUR PIMCO Enhanced Low Duration | 0.36% | 7,822 | $751K | Add +1.1% |
| DIS The Walt Disney Co. filed as DISNEY WALT CO | 0.35% | 7,512 | $741K | Add +61.1% |
| WMB Williams Cos Inc. | 0.34% | 11,955 | $714K | Reduce -8.6% |
| DIT Amcon Distributing Co. | 0.33% | 5,899 | $692K | Reduce -1.7% |
| KVUE Kenvue Inc. | 0.33% | 28,564 | $685K | Add +15.8% |
| LMT Lockheed Martin Corp. | 0.33% | 1,529 | $683K | Reduce -7.2% |
| DLR Digital Realty Trust Inc. | 0.32% | 4,764 | $683K | Reduce -6.5% |
| ONB Old National Bancorp | 0.32% | 32,012 | $678K | No change |
| MCHB Mechanics Bancorp Class A filed as HOMESTREET INC | 0.32% | 57,000 | $669K | Reduce -1.7% |
| BNY Bank of New York Mellon Corp. filed as BANK NEW YORK MELLON CORP | 0.32% | 7,943 | $666K | No change |
| SSBK Southern States Bancshares | 0.32% | 18,594 | $665K | No change |
| KO The Coca-Cola Co. | 0.31% | 9,076 | $650K | Reduce -0.7% |
| USFR Wisdomtree Floating Rate Tre | 0.30% | 12,608 | $635K | Add +1.9% |
| CET Central Securities Corp. | 0.30% | 14,005 | $630K | Add +9.1% |
| MRK Merck & Co. Inc. | 0.29% | 6,893 | $619K | Add +5.7% |
| SBUX Starbucks Corp. | 0.29% | 6,274 | $615K | Reduce -4.8% |
| QCOM Qualcomm Inc. | 0.29% | 3,963 | $609K | Reduce -5.5% |
| VOO Vanguard S&P 500 ETF | 0.29% | 1,179 | $606K | Add +95.8% |
| CLX Clorox Company | 0.29% | 4,097 | $603K | Reduce -4.2% |
| VDE Vanguard Energy ETF | 0.29% | 4,620 | $599K | Reduce -7.6% |
| GOOG Alphabet Inc. Class C | 0.28% | 3,833 | $599K | Reduce -8.2% |
| DHR Danaher Corp. | 0.28% | 2,897 | $594K | Reduce -4.9% |
| FSBW FS Bancorp Inc. | 0.28% | 15,352 | $584K | Reduce -0.8% |
Other holdings (4): bonds, preferreds, convertibles and warrants · $75K (not counted above)
| Security | Class | Shares / Principal | Value | Change |
|---|---|---|---|---|
| RLJ LODGING TRUST (RLJ 1.95 PERP A) | CUM CONV PFD A | 2,600 | $63K | No change |
| VAL.WS Valaris Ltd. -CW28 | *W EXP 04/29/202 | 2,000 | $10K | No change |
| OXY.WS Occidental Petroleum-CW27 | *W EXP 08/03/202 | 49 | $1K | No change |
| EVLVW Evolv Technologies -CW26 | *W EXP 07/16/202 | 500 | $90 | No change |
Total filed on the 13F, all lines: $210.2M.
Portfolio Sells Q4 2024 → Q1 2025
| AAPL Apple Inc. | Reduce -3.8% | 5.10% | −0.75 |
| MNTX Manitex International Inc. | Sold out | 0.00% | −0.46 |
| INBK First Internet Bancorp | Reduce -1.4% | 0.91% | −0.30 |
| AXR Amrep Corp. | Reduce -2.9% | 0.48% | −0.28 |
| PPIH Perma-Pipe International Hol | Reduce -0.7% | 1.34% | −0.25 |
| MSFT Microsoft Corp. | Reduce -4.3% | 1.60% | −0.24 |
| BSM Black Stone Minerals LP | Reduce -39.7% | 0.41% | −0.22 |
| KNTK Kinetik Holdings Inc. | Reduce -1.0% | 1.81% | −0.14 |
| GKOS Glaukos Corp. | Reduce -25.6% | 0.14% | −0.14 |
| ARL American Realty Investors Inc. | Reduce -0.5% | 0.40% | −0.13 |
| FSUN Firstsun Capital Bancorp | Reduce -0.4% | 1.09% | −0.10 |
| DLR Digital Realty Trust Inc. | Reduce -6.5% | 0.32% | −0.10 |
| GOOG Alphabet Inc. Class C | Reduce -8.2% | 0.28% | −0.09 |
| BANR Banner Corporation | Reduce -6.3% | 0.89% | −0.08 |
| ELSE Electro-Sensors Inc. | Reduce -1.1% | 0.51% | −0.08 |
| AMZN Amazon.com Inc. | Reduce -14.7% | 0.25% | −0.08 |
| MRVL Marvell Technology Inc. | Reduce -15.1% | 0.07% | −0.08 |
| AXP American Express Co. | Reduce -0.1% | 0.95% | −0.08 |
| AVGO Broadcom Inc. | Reduce -10.1% | 0.14% | −0.07 |
| VUG Vanguard Mrngstar GR ETF-Sui | Reduce -4.8% | 0.49% | −0.07 |
| PKBK Parke Bancorp Inc. | Reduce -0.9% | 0.85% | −0.06 |
| BCML Baycom Corp. | Reduce -1.5% | 0.99% | −0.06 |
| PNBK Patriot National Bancorp Inc. | Reduce -1.3% | 0.08% | −0.05 |
| XLF SS Financial Select Sector | Reduce -21.7% | 0.24% | −0.05 |
| IVV iShares Core S&P 500 ETF | Reduce -1.2% | 1.32% | −0.05 |
| LMT Lockheed Martin Corp. | Reduce -7.2% | 0.33% | −0.05 |
| GOLD Gold.com Inc. | Reduce -2.9% | 0.53% | −0.05 |
| NVDA Nvidia Corp. | Reduce -2.8% | 0.19% | −0.05 |
| DHR Danaher Corp. | Reduce -4.9% | 0.28% | −0.04 |
| CLX Clorox Company | Reduce -4.2% | 0.29% | −0.04 |
| USB US Bancorp | Reduce -5.1% | 0.21% | −0.04 |
| PATH Uipath Inc. Class A | Sold out | 0.00% | −0.03 |
| PFE Pfizer Inc. | Reduce -1.9% | 0.78% | −0.03 |
| PLTR Palantir Technologies Inc. Class A | Sold out | 0.00% | −0.03 |
| UTF Cohen & Steers Infrastructur | Reduce -76.1% | 0.01% | −0.03 |
| SDY SS SPDR S&P Dividend ETF | Reduce -51.6% | 0.03% | −0.03 |
| NRIM Northrim Bancorp Inc. | Reduce -3.0% | 0.41% | −0.03 |
| DIT Amcon Distributing Co. | Reduce -1.7% | 0.33% | −0.03 |
| LGL The LGL Group Inc. | Reduce -19.4% | 0.26% | −0.03 |
| BA The Boeing Co. | Reduce -5.1% | 0.37% | −0.03 |
| MBB iShares MBS ETF | Reduce -85.4% | 0.00% | −0.03 |
| OKE Oneok Inc. | Reduce -7.1% | 0.37% | −0.02 |
| NICHOLAS FINL INC BC | Reduce -1.5% | 0.40% | −0.02 |
| XME SS SPDR S&P Metals Mining | Sold out | 0.00% | −0.02 |
| CWBC Community West Bancshares | Reduce -0.8% | 0.65% | −0.02 |
| HURC Hurco Companies Inc. | Reduce -13.4% | 0.05% | −0.02 |
| PMDI Psychemedics Corp. | Sold out | 0.00% | −0.02 |
| KEY Keycorp | Reduce -8.2% | 0.14% | −0.02 |
| PCG P G & E Corp. | Reduce -5.6% | 0.09% | −0.02 |
| SW Smurfit Westrock PLC | Reduce -48.5% | 0.02% | −0.02 |
Portfolio Buys Q4 2024 → Q1 2025
| INTU Intuit Inc. | Add +8400.0% | 0.99% | +0.98 |
| BRK.B Berkshire Hathaway Inc. Class B | Add +26.0% | 1.69% | +0.57 |
| SSBI Summit State Bank | Add +26.4% | 1.38% | +0.49 |
| SGOV iShares 0-3 Month Treasury B | New | 0.23% | +0.23 |
| HSY The Hershey Co. | Add +42.0% | 0.48% | +0.15 |
| VOO Vanguard S&P 500 ETF | Add +95.8% | 0.29% | +0.14 |
| DIS The Walt Disney Co. | Add +61.1% | 0.35% | +0.11 |
| EQC Equity Commonwealth | Add +83.7% | 0.26% | +0.11 |
| KVUE Kenvue Inc. | Add +15.8% | 0.33% | +0.08 |
| JOE The St Joe Co. | New | 0.08% | +0.08 |
| JNJ Johnson & Johnson | Add +0.5% | 0.51% | +0.08 |
| PM Philip Morris International | Add +0.4% | 0.27% | +0.07 |
| MCD McDonald's Corp. | Add +3.2% | 0.55% | +0.07 |
| NEN New England Realty Assoc-LP | Add +0.2% | 1.18% | +0.05 |
| PEP Pepsico Inc. | Add +6.6% | 0.77% | +0.05 |
| UNP Union Pacific Corp. | Add +1.1% | 0.70% | +0.05 |
| HOS Hornbeck Offshore Services I | New | 0.04% | +0.04 |
| IWB iShares Russell 1000 ETF | New | 0.04% | +0.04 |
| WRB WR Berkley Corp. | Add +12.1% | 0.13% | +0.04 |
| TLT iShares 20+ Year Treasury BD | Add +2.3% | 0.42% | +0.03 |
| IMPERIAL PETE INC | New | 0.03% | +0.03 |
| SGOL Abrdn Physical Gold Shares | Add +0.3% | 0.18% | +0.03 |
| VIG Vanguard Dividend Apprec ETF | Add +1.1% | 1.21% | +0.03 |
| CET Central Securities Corp. | Add +9.1% | 0.30% | +0.03 |
| PRF Invesco Rafi US 1000 ETF | New | 0.03% | +0.03 |
| GLD SPDR Gold Shares | Add +206.6% | 0.03% | +0.02 |
| NE Noble Corp. PLC | New | 0.02% | +0.02 |
| MDT Medtronic PLC | Add +0.3% | 0.16% | +0.02 |
| SCHD Schwab US DVD Equity ETF | Add +12.7% | 0.14% | +0.02 |
| HD Home Depot Inc. | Add +7.4% | 0.62% | +0.02 |
| CRM Salesforce Inc. | Add +81.8% | 0.06% | +0.02 |
| ORCL Oracle Corp. | Add +53.1% | 0.08% | +0.02 |
| TRV The Travelers Cos Inc. | Add +0.3% | 0.16% | +0.02 |
| EFA iShares MSCI Eafe ETF | Add +141.8% | 0.03% | +0.02 |
| AIV Apartment Invt & Mgmt Co. Class A | Add +5.0% | 0.44% | +0.02 |
| BMY Bristol-Myers Squibb Co. | Add +1.7% | 0.15% | +0.02 |
| MDY State Street SPDR S&P Midcap | Add +928.6% | 0.02% | +0.02 |
| VTV Vanguard Mrngstr Val ETF-Aui | Add +0.3% | 0.36% | +0.02 |
| IEF iShares 7-10 Year Treasury B | Add +13.8% | 0.09% | +0.02 |
| LDUR PIMCO Enhanced Low Duration | Add +1.1% | 0.36% | +0.01 |
| IEI iShares 3-7 Year Treasury Bo | Add +5.1% | 0.16% | +0.01 |
| DHS Wisdomtree US High Dividend | Add +8.2% | 0.10% | +0.01 |
| SDRL Seadrill Limited | New | 0.01% | +0.01 |
| HOOD Robinhood Markets Inc. Class A | Add +14080.0% | 0.01% | +0.01 |
| VWO Vanguard Ftse Emerging Marke | Add +14.7% | 0.08% | +0.01 |
| GRAL Grail Inc. | New | 0.01% | +0.01 |
| SLB SLB Ltd. | Add +0.2% | 0.12% | +0.01 |
| USFR Wisdomtree Floating Rate Tre | Add +1.9% | 0.30% | +0.01 |
| VEA Vanguard Ftse Developed ETF | Add +1.3% | 0.13% | +0.01 |
| ICOW Pacer Developed Markets Inte | Add +21.6% | 0.05% | +0.01 |
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 |