Nelson Capital Management, LLC

In its 13F for Q3 2024 (holdings as of September 30, 2024, filed November 4, 2024), Nelson Capital Management, LLC reported 108 stock positions worth $593.3 million. Its top holding was Nvidia (NVDA) at 20.6% of the portfolio, followed by Microsoft (MSFT, 5.4%) and Vanguard Ftse Developed ETF (VEA, 4.1%). Compared with Q2 2024, it opened 8 new positions, sold out of 5, added to 63 and reduced 26. The biggest buy was a new position in S&P Global (SPGI) and the biggest sale Alphabet Class C (GOOG, shares −3%).

Most Recent 13F
Q2 2026
Location
MENLO PARK, CA
CIK
0001512611
Portfolio Value
$593.3M (Q3 2024)
SEC Filing
0001085146-24-005339 ↗ filed Nov 4, 2024

Holdings Value

0$200.0M$400.0M$600.0M$800.0M$1.0B Q1 2024: $523.1M Q1 2024 Q2 2024: $563.5M Q2 2024 Q3 2024: $593.3M $593.3M Q3 2024 Q4 2024: $602.7M Q4 2024 Q1 2025: $579.0M Q1 2025 Q2 2025: $756.5M Q2 2025 Q3 2025: $839.7M Q3 2025 Q4 2025: $854.6M Q4 2025 Q1 2026: $819.2M Q1 2026 Q2 2026: $911.6M Q2 2026

Holdings 108 stocks · $593.3M
NVDA Nvidia Corp. 20.63% 1,007,881 $122.4M Add +1.2%
MSFT Microsoft Corp. 5.42% 74,712 $32.1M Add +0.4%
VEA Vanguard Ftse Developed ETF 4.14% 465,534 $24.6M Add +4.4%
SPTS SS SPDR P St Term TSY ETF 3.94% 795,460 $23.4M Add +9.6%
AAPL Apple Inc. 3.86% 98,209 $22.9M Add +1.2%
IGSB iShares 1-5Y Inv Grade Corp. 3.80% 428,264 $22.6M Add +6.7%
VB Vanguard Most SM-Cap ETF-Usd 3.38% 84,531 $20.1M Add +2.6%
XLI SS Industrial Select Sector 2.90% 127,264 $17.2M Add +2.4%
GOOG Alphabet Inc. Class C 2.44% 86,622 $14.5M Reduce -2.8%
XLK SS Technology Select Sector 2.20% 57,843 $13.1M Add +35.6%
EMXC iShares MSCI Emr MRK Ex Chna 2.05% 199,072 $12.2M Add +3.3%
AMZN Amazon.com Inc. 1.96% 62,533 $11.7M Add +1.1%
VPU Vanguard Utilities ETF 1.68% 57,126 $9.9M Add +3.5%
JPM JPMorgan Chase & Co. 1.56% 43,966 $9.3M Reduce -1.0%
COST Costco Wholesale Corp. 1.56% 10,411 $9.2M Reduce -2.8%
PG The Procter & Gamble Co. 1.50% 51,231 $8.9M Add +0.1%
SPY SS SPDR S&P 500 ETF Trust-US 1.41% 14,588 $8.4M Add +3.8%
V Visa Inc. Class A 1.41% 30,331 $8.3M Add +4.3%
QCOM Qualcomm Inc. 1.40% 48,892 $8.3M Add +0.1%
VWO Vanguard Ftse Emerging Marke 1.23% 152,292 $7.3M Add +2.5%
IVV iShares Core S&P 500 ETF 1.22% 12,597 $7.3M Add +1.8%
CSCO Cisco Systems Inc. 1.14% 126,729 $6.7M Add +5.3%
LIN Linde PLC 1.06% 13,174 $6.3M Add +0.1%
XOM Exxon Mobil Corp. 1.01% 51,012 $6.0M Reduce -1.0%
UNH Unitedhealth Group Inc. 0.95% 9,596 $5.6M Reduce -2.6%
ROP Roper Technologies Inc. 0.92% 9,807 $5.5M Add +2.1%
AMGN Amgen Inc. 0.91% 16,799 $5.4M Reduce -7.4%
TJX TJX Companies Inc. filed as TJX COS INC NEW 0.90% 45,313 $5.3M Add +0.3%
ABBV Abbvie Inc. 0.85% 25,682 $5.1M Add +1.6%
AEM Agnico Eagle Mines Ltd. 0.85% 62,293 $5.0M Reduce -5.3%
SPGI S&P Global Inc. 0.80% 9,203 $4.8M New
TMO Thermo Fisher Scientific Inc. 0.80% 7,652 $4.7M Reduce -6.4%
BKNG Booking Holdings Inc. 0.79% 1,118 $4.7M Reduce -1.1%
CVX Chevron Corp. 0.78% 31,442 $4.6M Reduce -10.2%
XLRE SS Real Estate Select Sector 0.75% 99,018 $4.4M Add +2.7%
SYK Stryker Corp. 0.73% 12,065 $4.4M Add +1.4%
MRK Merck & Co. Inc. 0.69% 36,126 $4.1M Add +2.6%
IHAK iShares Cybersecurity & Tech 0.65% 79,646 $3.9M Add +10.9%
ADBE Adobe Inc. 0.65% 7,496 $3.9M Reduce -4.0%
AJG Arthur J Gallagher & Co. filed as GALLAGHER ARTHUR J & CO 0.65% 13,788 $3.9M Add +1.8%
HD Home Depot Inc. 0.65% 9,513 $3.9M Add +2.4%
MDT Medtronic PLC 0.61% 40,079 $3.6M Add +3.5%
XLV SS Health Care Select Sector 0.57% 21,926 $3.4M Add +9.4%
MAS Masco Corp. 0.55% 38,763 $3.3M Reduce -0.1%
CMCSA Comcast Corp. Class A 0.51% 72,264 $3.0M Add +2.0%
PFE Pfizer Inc. 0.50% 102,000 $3.0M Add +6.8%
CB Chubb Ltd. 0.48% 9,950 $2.9M Add +1.1%
XLF SS Financial Select Sector 0.47% 61,776 $2.8M Add +15.0%
XYL Xylem Inc. 0.47% 20,613 $2.8M Reduce -0.8%
GIS General Mills Inc. 0.47% 37,648 $2.8M Reduce -0.4%
SCHF Schwab Intl Equity ETF 0.46% 66,417 $2.7M Reduce -0.4%
VZ Verizon Communications Inc. 0.46% 60,693 $2.7M Add +2.0%
EMR Emerson Electric Co. 0.45% 24,220 $2.6M Reduce -2.1%
KO The Coca-Cola Co. 0.43% 35,654 $2.6M Add +1.9%
XLC SS Comm Select Sector SPDR 0.42% 27,891 $2.5M Add +10.3%
SCHW Schwab (charles) Corp. 0.41% 37,510 $2.4M Add +1.5%
SHEL Shell PLC-ADR 0.41% 36,724 $2.4M Add +1.4%
XLY SS Consumer Disc Select Sect 0.40% 11,704 $2.3M Add +9.8%
DIS The Walt Disney Co. filed as DISNEY WALT CO 0.37% 23,063 $2.2M Add +6.8%
CRM Salesforce Inc. 0.37% 8,039 $2.2M Add +11.8%
XLP SS Consumer Staples Sel Sect 0.36% 26,038 $2.2M Add +7.6%
JEPI JPMorgan Equity Premium Inco 0.35% 34,620 $2.1M Add +0.8%
GLD SPDR Gold Shares 0.31% 7,671 $1.9M Add +3.0%
ORCL Oracle Corp. 0.28% 9,836 $1.7M Add +6.7%
IJR iShares Core S&P Small-Cap E 0.25% 12,500 $1.5M Add +1.9%
XLE SS Energy Select Sector 0.24% 16,262 $1.4M Add +8.4%
JPST JPMorgan Ultra-Short Income 0.22% 25,268 $1.3M Reduce -2.8%
INTU Intuit Inc. 0.21% 1,965 $1.2M No change
XLB SS Materials Select Sector 0.19% 11,782 $1.1M Add +8.5%
JNJ Johnson & Johnson 0.15% 5,523 $895K No change
ABNB Airbnb Inc. Class A 0.15% 6,831 $866K Reduce -12.1%
GOOGL Alphabet Inc. Class A 0.13% 4,562 $757K Add +13.4%
SCHO Schwab Short-Term US Treas 0.12% 14,948 $732K Reduce -3.5%
ABT Abbott Laboratories 0.11% 5,848 $667K Add +2.9%
META Meta Platforms Inc. Class A 0.11% 1,108 $634K Add +5.0%
PFFD Global X US Preferred ETF 0.10% 29,975 $623K Add +2.1%
BRK.B Berkshire Hathaway Inc. Class B 0.10% 1,279 $589K Add +2.2%
PEP Pepsico Inc. 0.09% 3,262 $555K Add +9.7%
DHS Wisdomtree US High Dividend 0.08% 5,275 $495K No change
VOO Vanguard S&P 500 ETF 0.08% 923 $487K Add +60.0%
NUE Nucor Corp. 0.08% 3,132 $471K No change
WMT Walmart Inc. 0.08% 5,666 $458K Add +0.9%
QQQ Invesco QQQ Trust Series 1 0.07% 857 $418K Reduce -0.2%
ADP Automatic Data Processing 0.07% 1,450 $401K Add +7.7%
LRCX Lam Research Corp. 0.06% 449 $366K Reduce -0.2%
IWO iShares Russell 2000 Growth 0.06% 1,275 $362K No change
GS Goldman Sachs Group Inc. 0.06% 687 $340K Reduce -1.9%
IBM Intl Business Machines Corp. filed as INTERNATIONAL BUSINESS MACHS 0.06% 1,478 $327K Add +7.1%
NVRI Enviri Corp. 0.05% 28,825 $298K Reduce -23.4%
LLY Eli Lilly & Co. 0.05% 326 $289K No change
AVGO Broadcom Inc. 0.05% 1,640 $283K New
TGT Target Corp. 0.05% 1,778 $277K Add +1.6%
TSLA Tesla Inc. 0.05% 1,035 $271K Reduce -2.8%
MCD McDonald's Corp. 0.05% 880 $268K Add +8.0%
SHY iShares 1-3 Year Treasury Bo 0.04% 3,025 $252K New
PANW Palo Alto Networks Inc. 0.04% 712 $243K Reduce -7.2%
PH Parker Hannifin Corp. 0.04% 385 $243K New
ICLN iShares Global Clean Energy 0.04% 16,490 $242K No change
ENB Enbridge Inc. 0.04% 5,930 $241K Reduce -25.8%
MDLZ Mondelez International Inc. Class A 0.04% 3,113 $229K Add +0.1%
CSX CSX Corp. 0.04% 6,200 $214K No change
NEM Newmont Corp. 0.04% 3,949 $211K New
KMB Kimberly-Clark Corp. 0.04% 1,480 $211K No change
A Agilent Technologies Inc. 0.04% 1,409 $209K New
ZBRA Zebra Technologies Corp. Class A 0.03% 550 $204K New
UPS United Parcel Service Class B 0.03% 1,469 $200K No change
IWM iShares Russell 2000 ETF 0.03% 906 $200K New
CRBU Caribou Biosciences Inc. 0.03% 85,020 $167K No change

Options reported separately and not counted above: SPY puts ($574K).

Other holdings (1): bonds, preferreds, convertibles and warrants · $205K (not counted above)
SecurityClassShares / PrincipalValueChange
WELLS FARGO & COMPANY (WFC 7.5 PERP L) PERP PFD CNV A 160$205KNew

Total filed on the 13F, all lines: $593.6M.

Portfolio Sells Q2 2024 → Q3 2024
GOOG Alphabet Inc. Class C Reduce -2.8% 2.44% −0.46
TEL Te Connectivity Ltd. Sold out 0.00% −0.40
DEO Diageo PLC-Sponsored ADR Sold out 0.00% −0.36
INTC Intel Corp. Sold out 0.00% −0.28
CVX Chevron Corp. Reduce -10.2% 0.78% −0.19
ADBE Adobe Inc. Reduce -4.0% 0.65% −0.12
AMGN Amgen Inc. Reduce -7.4% 0.91% −0.09
VTI VG Morningstar TS MKT ETF-US Sold out 0.00% −0.07
ABNB Airbnb Inc. Class A Reduce -12.1% 0.15% −0.06
COST Costco Wholesale Corp. Reduce -2.8% 1.56% −0.06
WFC Wells Fargo & Co. Sold out 0.00% −0.06
XOM Exxon Mobil Corp. Reduce -1.0% 1.01% −0.04
EMR Emerson Electric Co. Reduce -2.1% 0.45% −0.04
XYL Xylem Inc. Reduce -0.8% 0.47% −0.03
JPM JPMorgan Chase & Co. Reduce -1.0% 1.56% −0.03
LRCX Lam Research Corp. Reduce -0.2% 0.06% −0.02
JPST JPMorgan Ultra-Short Income Reduce -2.8% 0.22% −0.02
ENB Enbridge Inc. Reduce -25.8% 0.04% −0.01
SCHO Schwab Short-Term US Treas Reduce -3.5% 0.12% −0.01
NVRI Enviri Corp. Reduce -23.4% 0.05% −0.01
PANW Palo Alto Networks Inc. Reduce -7.2% 0.04% −0.01
TMO Thermo Fisher Scientific Inc. Reduce -6.4% 0.80% −0.00
QQQ Invesco QQQ Trust Series 1 Reduce -0.2% 0.07% −0.00
BKNG Booking Holdings Inc. Reduce -1.1% 0.79% −0.00
GS Goldman Sachs Group Inc. Reduce -1.9% 0.06% +0.00
SCHF Schwab Intl Equity ETF Reduce -0.4% 0.46% +0.01
TSLA Tesla Inc. Reduce -2.8% 0.05% +0.01
GIS General Mills Inc. Reduce -0.4% 0.47% +0.04
UNH Unitedhealth Group Inc. Reduce -2.6% 0.95% +0.06
AEM Agnico Eagle Mines Ltd. Reduce -5.3% 0.85% +0.08
MAS Masco Corp. Reduce -0.1% 0.55% +0.09

Portfolio Buys Q2 2024 → Q3 2024
SPGI S&P Global Inc. New 0.80% +0.80
XLK SS Technology Select Sector Add +35.6% 2.20% +0.49
VEA Vanguard Ftse Developed ETF Add +4.4% 4.14% +0.23
AAPL Apple Inc. Add +1.2% 3.86% +0.23
VPU Vanguard Utilities ETF Add +3.5% 1.68% +0.23
SPTS SS SPDR P St Term TSY ETF Add +9.6% 3.94% +0.23
XLI SS Industrial Select Sector Add +2.4% 2.90% +0.22
VB Vanguard Most SM-Cap ETF-Usd Add +2.6% 3.38% +0.19
IGSB iShares 1-5Y Inv Grade Corp. Add +6.7% 3.80% +0.15
CSCO Cisco Systems Inc. Add +5.3% 1.14% +0.12
XLRE SS Real Estate Select Sector Add +2.7% 0.75% +0.09
ABBV Abbvie Inc. Add +1.6% 0.85% +0.09
HD Home Depot Inc. Add +2.4% 0.65% +0.08
XLF SS Financial Select Sector Add +15.0% 0.47% +0.08
VWO Vanguard Ftse Emerging Marke Add +2.5% 1.23% +0.07
IHAK iShares Cybersecurity & Tech Add +10.9% 0.65% +0.07
MDT Medtronic PLC Add +3.5% 0.61% +0.07
SPY SS SPDR S&P 500 ETF Trust-US Add +3.8% 1.41% +0.05
ORCL Oracle Corp. Add +6.7% 0.28% +0.05
XLV SS Health Care Select Sector Add +9.4% 0.57% +0.05
V Visa Inc. Class A Add +4.3% 1.41% +0.05
XLY SS Consumer Disc Select Sect Add +9.8% 0.40% +0.05
AVGO Broadcom Inc. New 0.05% +0.05
CRM Salesforce Inc. Add +11.8% 0.37% +0.04
SHY iShares 1-3 Year Treasury Bo New 0.04% +0.04
PH Parker Hannifin Corp. New 0.04% +0.04
XLC SS Comm Select Sector SPDR Add +10.3% 0.42% +0.04
CB Chubb Ltd. Add +1.1% 0.48% +0.04
KO The Coca-Cola Co. Add +1.9% 0.43% +0.04
NEM Newmont Corp. New 0.04% +0.04
A Agilent Technologies Inc. New 0.04% +0.04
XLP SS Consumer Staples Sel Sect Add +7.6% 0.36% +0.04
ZBRA Zebra Technologies Corp. Class A New 0.03% +0.03
LIN Linde PLC Add +0.1% 1.06% +0.03
IWM iShares Russell 2000 ETF New 0.03% +0.03
VOO Vanguard S&P 500 ETF Add +60.0% 0.08% +0.03
AJG Arthur J Gallagher & Co. Add +1.8% 0.65% +0.03
GLD SPDR Gold Shares Add +3.0% 0.31% +0.03
EMXC iShares MSCI Emr MRK Ex Chna Add +3.3% 2.05% +0.03
VZ Verizon Communications Inc. Add +2.0% 0.46% +0.02
IVV iShares Core S&P 500 ETF Add +1.8% 1.22% +0.02
PFE Pfizer Inc. Add +6.8% 0.50% +0.02
XLB SS Materials Select Sector Add +8.5% 0.19% +0.02
CMCSA Comcast Corp. Class A Add +2.0% 0.51% +0.02
SYK Stryker Corp. Add +1.4% 0.73% +0.02
TJX TJX Companies Inc. Add +0.3% 0.90% +0.01
IJR iShares Core S&P Small-Cap E Add +1.9% 0.25% +0.01
IBM Intl Business Machines Corp. Add +7.1% 0.06% +0.01
META Meta Platforms Inc. Class A Add +5.0% 0.11% +0.01
ADP Automatic Data Processing Add +7.7% 0.07% +0.01

Options Activity Q2 2024 → Q3 2024
SPY SS SPDR S&P 500 ETF Trust-US put New 1,000 $574K

Calls and puts are listed by the shares they cover; their value is not part of the stock holdings above.

Notes & Other Activity Q2 2024 → Q3 2024
WELLS FARGO & COMPANY (WFC 7.5 PERP L) PERP PFD CNV A New 160 $205K

Bonds, preferreds, convertibles and warrants; not part of the stock holdings or percentages above.

All Filings

QuarterPositions13F Reported ValueTop Holdings
Q2 2026 120$911.6MNVDA, VEA, IGSB, XLK, GOOG
Q1 2026 108$819.2MNVDA, VEA, IGSB, XLK, MSFT
Q4 2025 107$854.6MNVDA, VEA, IGSB, MSFT, AAPL
Q3 2025 108$839.7MNVDA, VEA, MSFT, IGSB, AAPL
Q2 2025 101$756.5MNVDA, MSFT, VEA, IGSB, SPTS
Q1 2025 101$579.0MNVDA, MSFT, IGSB, VEA, SPTS
Q4 2024 107$602.7MNVDA, MSFT, AAPL, IGSB, SPTS
Q3 2024 108$593.3MNVDA, MSFT, VEA, SPTS, AAPL
Q2 2024 105$563.5MNVDA, MSFT, VEA, SPTS, IGSB
Q1 2024 103$523.1MNVDA, MSFT, VEA, IGSB, SPTS