Nelson Capital Management, LLC
In its 13F for Q4 2024 (holdings as of December 31, 2024, filed February 5, 2025), Nelson Capital Management, LLC reported 107 stock positions worth $602.7 million. Its top holding was Nvidia (NVDA) at 22.5% of the portfolio, followed by Microsoft (MSFT, 5.1%) and Apple (AAPL, 4.2%). Compared with Q3 2024, it opened 7 new positions, sold out of 8, added to 30 and reduced 54. The biggest buy was Nvidia (NVDA, shares +0%) and the biggest sale Merck (MRK, shares −84%).
- Most Recent 13F
- Q2 2026
- Location
- MENLO PARK, CA
- CIK
- 0001512611
- Portfolio Value
- $602.7M (Q4 2024)
- SEC Filing
- 0001085146-25-000793 ↗ filed Feb 5, 2025
Holdings Value
Holdings 107 stocks · $602.7M
| NVDA Nvidia Corp. | 22.46% | 1,008,041 | $135.4M | Add +0.0% |
| MSFT Microsoft Corp. | 5.08% | 72,611 | $30.6M | Reduce -2.8% |
| AAPL Apple Inc. | 4.15% | 99,935 | $25.0M | Add +1.8% |
| IGSB iShares 1-5Y Inv Grade Corp. | 3.94% | 458,883 | $23.7M | Add +7.2% |
| SPTS SS SPDR P St Term TSY ETF | 3.76% | 781,395 | $22.7M | Reduce -1.8% |
| VEA Vanguard Ftse Developed ETF | 3.73% | 470,097 | $22.5M | Add +1.0% |
| VB Vanguard Most SM-Cap ETF-Usd | 3.25% | 81,604 | $19.6M | Reduce -3.5% |
| XLI SS Industrial Select Sector | 2.77% | 126,740 | $16.7M | Reduce -0.4% |
| GOOG Alphabet Inc. Class C | 2.66% | 84,097 | $16.0M | Reduce -2.9% |
| XLK SS Technology Select Sector | 2.31% | 59,792 | $13.9M | Add +3.4% |
| AMZN Amazon.com Inc. | 2.22% | 60,890 | $13.4M | Reduce -2.6% |
| EMXC iShares MSCI Emr MRK Ex Chna | 1.85% | 201,364 | $11.2M | Add +1.1% |
| JPM JPMorgan Chase & Co. | 1.67% | 41,985 | $10.1M | Reduce -4.5% |
| V Visa Inc. Class A | 1.56% | 29,753 | $9.4M | Reduce -1.9% |
| VPU Vanguard Utilities ETF | 1.55% | 56,983 | $9.3M | Reduce -0.3% |
| SPY SS SPDR S&P 500 ETF Trust-US | 1.52% | 15,607 | $9.1M | Add +7.0% |
| COST Costco Wholesale Corp. | 1.50% | 9,887 | $9.1M | Reduce -5.0% |
| PG The Procter & Gamble Co. | 1.37% | 49,287 | $8.3M | Reduce -3.8% |
| CSCO Cisco Systems Inc. | 1.25% | 127,239 | $7.5M | Add +0.4% |
| IVV iShares Core S&P 500 ETF | 1.24% | 12,710 | $7.5M | Add +0.9% |
| QCOM Qualcomm Inc. | 1.23% | 48,395 | $7.4M | Reduce -1.0% |
| VWO Vanguard Ftse Emerging Marke | 1.08% | 148,283 | $6.5M | Reduce -2.6% |
| BKNG Booking Holdings Inc. | 0.92% | 1,111 | $5.5M | Reduce -0.6% |
| TJX TJX Companies Inc. filed as TJX COS INC NEW | 0.90% | 44,768 | $5.4M | Reduce -1.2% |
| LIN Linde PLC | 0.89% | 12,838 | $5.4M | Reduce -2.5% |
| XOM Exxon Mobil Corp. | 0.88% | 49,378 | $5.3M | Reduce -3.2% |
| ROP Roper Technologies Inc. | 0.83% | 9,613 | $5.0M | Reduce -2.0% |
| SPGI S&P Global Inc. | 0.80% | 9,629 | $4.8M | Add +4.6% |
| UNH Unitedhealth Group Inc. | 0.77% | 9,232 | $4.7M | Reduce -3.8% |
| AEM Agnico Eagle Mines Ltd. | 0.76% | 58,902 | $4.6M | Reduce -5.4% |
| CVX Chevron Corp. | 0.73% | 30,258 | $4.4M | Reduce -3.8% |
| ABBV Abbvie Inc. | 0.72% | 24,386 | $4.3M | Reduce -5.0% |
| SYK Stryker Corp. | 0.70% | 11,777 | $4.2M | Reduce -2.4% |
| IHAK iShares Cybersecurity & Tech | 0.67% | 82,316 | $4.0M | Add +3.4% |
| XLRE SS Real Estate Select Sector | 0.67% | 98,731 | $4.0M | Reduce -0.3% |
| AMGN Amgen Inc. | 0.65% | 15,002 | $3.9M | Reduce -10.7% |
| AJG Arthur J Gallagher & Co. filed as GALLAGHER ARTHUR J & CO | 0.64% | 13,585 | $3.9M | Reduce -1.5% |
| TMO Thermo Fisher Scientific Inc. | 0.63% | 7,299 | $3.8M | Reduce -4.6% |
| HD Home Depot Inc. | 0.59% | 9,103 | $3.5M | Reduce -4.3% |
| XLF SS Financial Select Sector | 0.54% | 66,712 | $3.2M | Add +8.0% |
| ADBE Adobe Inc. | 0.53% | 7,202 | $3.2M | Reduce -3.9% |
| MDT Medtronic PLC | 0.52% | 39,157 | $3.1M | Reduce -2.3% |
| XLV SS Health Care Select Sector | 0.51% | 22,158 | $3.0M | Add +1.1% |
| EMR Emerson Electric Co. | 0.50% | 24,472 | $3.0M | Add +1.0% |
| LLY Eli Lilly & Co. | 0.46% | 3,622 | $2.8M | Add +1011.0% |
| MAS Masco Corp. | 0.46% | 38,432 | $2.8M | Reduce -0.8% |
| SCHW Schwab (charles) Corp. | 0.46% | 37,361 | $2.8M | Reduce -0.4% |
| CRM Salesforce Inc. | 0.45% | 8,182 | $2.7M | Add +1.8% |
| XLC SS Comm Select Sector SPDR | 0.45% | 28,006 | $2.7M | Add +0.4% |
| CMCSA Comcast Corp. Class A | 0.45% | 72,035 | $2.7M | Reduce -0.3% |
| CB Chubb Ltd. | 0.44% | 9,618 | $2.7M | Reduce -3.3% |
| XLY SS Consumer Disc Select Sect | 0.44% | 11,823 | $2.7M | Add +1.0% |
| PFE Pfizer Inc. | 0.44% | 98,878 | $2.6M | Reduce -3.1% |
| DIS The Walt Disney Co. filed as DISNEY WALT CO | 0.43% | 23,415 | $2.6M | Add +1.5% |
| SCHF Schwab Intl Equity ETF | 0.42% | 135,793 | $2.5M | Add +2.2% |
| VZ Verizon Communications Inc. | 0.40% | 60,113 | $2.4M | Reduce -1.0% |
| XYL Xylem Inc. | 0.39% | 20,306 | $2.4M | Reduce -1.5% |
| GIS General Mills Inc. | 0.39% | 36,626 | $2.3M | Reduce -2.7% |
| SHEL Shell PLC-ADR | 0.37% | 35,955 | $2.3M | Reduce -2.1% |
| KO The Coca-Cola Co. | 0.36% | 34,919 | $2.2M | Reduce -2.1% |
| TEL Te Connectivity PLC | 0.36% | 15,084 | $2.2M | New |
| XLP SS Consumer Staples Sel Sect | 0.33% | 25,537 | $2.0M | Reduce -1.9% |
| TPL Texas Pacific Land Corp. | 0.33% | 1,815 | $2.0M | New |
| GLD SPDR Gold Shares | 0.31% | 7,671 | $1.9M | No change |
| JEPI JPMorgan Equity Premium Inco | 0.30% | 31,032 | $1.8M | Reduce -10.4% |
| ORCL Oracle Corp. | 0.26% | 9,423 | $1.6M | Reduce -4.2% |
| IJR iShares Core S&P Small-Cap E | 0.24% | 12,492 | $1.4M | Reduce -0.1% |
| XLE SS Energy Select Sector | 0.23% | 16,301 | $1.4M | Add +0.2% |
| META Meta Platforms Inc. Class A | 0.21% | 2,155 | $1.3M | Add +94.5% |
| INTU Intuit Inc. | 0.20% | 1,965 | $1.2M | No change |
| QQQ Invesco QQQ Trust Series 1 | 0.19% | 2,250 | $1.2M | Add +162.5% |
| JPST JPMorgan Ultra-Short Income | 0.19% | 22,319 | $1.1M | Reduce -11.7% |
| GOOGL Alphabet Inc. Class A | 0.18% | 5,605 | $1.1M | Add +22.9% |
| XLB SS Materials Select Sector | 0.17% | 12,088 | $1.0M | Add +2.6% |
| ABNB Airbnb Inc. Class A | 0.15% | 6,831 | $898K | No change |
| JNJ Johnson & Johnson | 0.15% | 6,124 | $886K | Add +10.9% |
| VUG Vanguard Mrngstar GR ETF-Sui | 0.13% | 1,933 | $793K | New |
| SCHO Schwab Short-Term US Treas | 0.12% | 29,362 | $706K | Reduce -1.8% |
| PFFD Global X US Preferred ETF | 0.10% | 29,975 | $585K | No change |
| BRK.B Berkshire Hathaway Inc. Class B | 0.10% | 1,282 | $581K | Add +0.2% |
| MRK Merck & Co. Inc. | 0.09% | 5,724 | $569K | Reduce -84.2% |
| LECO Lincoln Electric Holdings | 0.09% | 3,000 | $562K | New |
| ABT Abbott Laboratories | 0.09% | 4,675 | $529K | Reduce -20.1% |
| WMT Walmart Inc. | 0.09% | 5,693 | $514K | Add +0.5% |
| DHS Wisdomtree US High Dividend | 0.08% | 5,275 | $492K | No change |
| VOO Vanguard S&P 500 ETF | 0.08% | 842 | $454K | Reduce -8.8% |
| TSLA Tesla Inc. | 0.07% | 1,017 | $411K | Reduce -1.7% |
| GS Goldman Sachs Group Inc. | 0.07% | 689 | $395K | Add +0.3% |
| AVGO Broadcom Inc. | 0.06% | 1,585 | $367K | Reduce -3.4% |
| IWO iShares Russell 2000 Growth | 0.06% | 1,275 | $367K | No change |
| NUE Nucor Corp. | 0.06% | 3,132 | $366K | No change |
| PEP Pepsico Inc. | 0.06% | 2,300 | $350K | Reduce -29.5% |
| IBM Intl Business Machines Corp. filed as INTERNATIONAL BUSINESS MACHS | 0.05% | 1,484 | $326K | Add +0.4% |
| LRCX Lam Research Corp. | 0.05% | 4,490 | $324K | No change |
| VONG Vanguard Russell 1000 Growth | 0.05% | 2,951 | $305K | New |
| PANW Palo Alto Networks Inc. | 0.04% | 1,424 | $259K | No change |
| MCD McDonald's Corp. | 0.04% | 880 | $255K | No change |
| PH Parker Hannifin Corp. | 0.04% | 385 | $245K | No change |
| NVRI Enviri Corp. | 0.04% | 28,825 | $222K | No change |
| ZBRA Zebra Technologies Corp. Class A | 0.04% | 550 | $212K | No change |
Options reported separately and not counted above: SPY puts ($2.1M).
Portfolio Sells Q3 2024 → Q4 2024
| MRK Merck & Co. Inc. | Reduce -84.2% | 0.09% | −0.60 |
| MSFT Microsoft Corp. | Reduce -2.8% | 5.08% | −0.34 |
| AMGN Amgen Inc. | Reduce -10.7% | 0.65% | −0.26 |
| SPTS SS SPDR P St Term TSY ETF | Reduce -1.8% | 3.76% | −0.18 |
| UNH Unitedhealth Group Inc. | Reduce -3.8% | 0.77% | −0.17 |
| QCOM Qualcomm Inc. | Reduce -1.0% | 1.23% | −0.17 |
| TMO Thermo Fisher Scientific Inc. | Reduce -4.6% | 0.63% | −0.17 |
| LIN Linde PLC | Reduce -2.5% | 0.89% | −0.17 |
| VWO Vanguard Ftse Emerging Marke | Reduce -2.6% | 1.08% | −0.14 |
| ABBV Abbvie Inc. | Reduce -5.0% | 0.72% | −0.14 |
| XLI SS Industrial Select Sector | Reduce -0.4% | 2.77% | −0.13 |
| VPU Vanguard Utilities ETF | Reduce -0.3% | 1.55% | −0.13 |
| XOM Exxon Mobil Corp. | Reduce -3.2% | 0.88% | −0.13 |
| VB Vanguard Most SM-Cap ETF-Usd | Reduce -3.5% | 3.25% | −0.13 |
| PG The Procter & Gamble Co. | Reduce -3.8% | 1.37% | −0.12 |
| ADBE Adobe Inc. | Reduce -3.9% | 0.53% | −0.12 |
| ROP Roper Technologies Inc. | Reduce -2.0% | 0.83% | −0.09 |
| MDT Medtronic PLC | Reduce -2.3% | 0.52% | −0.09 |
| MAS Masco Corp. | Reduce -0.8% | 0.46% | −0.09 |
| AEM Agnico Eagle Mines Ltd. | Reduce -5.4% | 0.76% | −0.08 |
| GIS General Mills Inc. | Reduce -2.7% | 0.39% | −0.08 |
| XLRE SS Real Estate Select Sector | Reduce -0.3% | 0.67% | −0.08 |
| XYL Xylem Inc. | Reduce -1.5% | 0.39% | −0.08 |
| KO The Coca-Cola Co. | Reduce -2.1% | 0.36% | −0.07 |
| ADP Automatic Data Processing | Sold out | 0.00% | −0.07 |
| PFE Pfizer Inc. | Reduce -3.1% | 0.44% | −0.06 |
| HD Home Depot Inc. | Reduce -4.3% | 0.59% | −0.06 |
| VZ Verizon Communications Inc. | Reduce -1.0% | 0.40% | −0.06 |
| CMCSA Comcast Corp. Class A | Reduce -0.3% | 0.45% | −0.06 |
| CVX Chevron Corp. | Reduce -3.8% | 0.73% | −0.05 |
| COST Costco Wholesale Corp. | Reduce -5.0% | 1.50% | −0.05 |
| JEPI JPMorgan Equity Premium Inco | Reduce -10.4% | 0.30% | −0.05 |
| TGT Target Corp. | Sold out | 0.00% | −0.05 |
| CB Chubb Ltd. | Reduce -3.3% | 0.44% | −0.04 |
| SHY iShares 1-3 Year Treasury Bo | Sold out | 0.00% | −0.04 |
| MDLZ Mondelez International Inc. Class A | Sold out | 0.00% | −0.04 |
| NEM Newmont Corp. | Sold out | 0.00% | −0.04 |
| KMB Kimberly-Clark Corp. | Sold out | 0.00% | −0.04 |
| PEP Pepsico Inc. | Reduce -29.5% | 0.06% | −0.04 |
| A Agilent Technologies Inc. | Sold out | 0.00% | −0.04 |
| SHEL Shell PLC-ADR | Reduce -2.1% | 0.37% | −0.03 |
| UPS United Parcel Service Class B | Sold out | 0.00% | −0.03 |
| XLP SS Consumer Staples Sel Sect | Reduce -1.9% | 0.33% | −0.03 |
| SYK Stryker Corp. | Reduce -2.4% | 0.70% | −0.03 |
| JPST JPMorgan Ultra-Short Income | Reduce -11.7% | 0.19% | −0.03 |
| ABT Abbott Laboratories | Reduce -20.1% | 0.09% | −0.02 |
| ORCL Oracle Corp. | Reduce -4.2% | 0.26% | −0.02 |
| AJG Arthur J Gallagher & Co. | Reduce -1.5% | 0.64% | −0.01 |
| CRBU Caribou Biosciences Inc. | Reduce -23.7% | 0.02% | −0.01 |
| IJR iShares Core S&P Small-Cap E | Reduce -0.1% | 0.24% | −0.01 |
Portfolio Buys Q3 2024 → Q4 2024
| NVDA Nvidia Corp. | Add +0.0% | 22.46% | +1.83 |
| LLY Eli Lilly & Co. | Add +1011.0% | 0.46% | +0.42 |
| TEL Te Connectivity PLC | New | 0.36% | +0.36 |
| TPL Texas Pacific Land Corp. | New | 0.33% | +0.33 |
| AAPL Apple Inc. | Add +1.8% | 4.15% | +0.30 |
| IGSB iShares 1-5Y Inv Grade Corp. | Add +7.2% | 3.94% | +0.14 |
| VUG Vanguard Mrngstar GR ETF-Sui | New | 0.13% | +0.13 |
| QQQ Invesco QQQ Trust Series 1 | Add +162.5% | 0.19% | +0.12 |
| CSCO Cisco Systems Inc. | Add +0.4% | 1.25% | +0.11 |
| SPY SS SPDR S&P 500 ETF Trust-US | Add +7.0% | 1.52% | +0.11 |
| XLK SS Technology Select Sector | Add +3.4% | 2.31% | +0.11 |
| META Meta Platforms Inc. Class A | Add +94.5% | 0.21% | +0.10 |
| LECO Lincoln Electric Holdings | New | 0.09% | +0.09 |
| CRM Salesforce Inc. | Add +1.8% | 0.45% | +0.08 |
| XLF SS Financial Select Sector | Add +8.0% | 0.54% | +0.06 |
| DIS The Walt Disney Co. | Add +1.5% | 0.43% | +0.06 |
| EMR Emerson Electric Co. | Add +1.0% | 0.50% | +0.06 |
| VONG Vanguard Russell 1000 Growth | New | 0.05% | +0.05 |
| GOOGL Alphabet Inc. Class A | Add +22.9% | 0.18% | +0.05 |
| XLY SS Consumer Disc Select Sect | Add +1.0% | 0.44% | +0.04 |
| PLD Prologis Inc. | New | 0.03% | +0.03 |
| WFC Wells Fargo & Co. | New | 0.03% | +0.03 |
| XLC SS Comm Select Sector SPDR | Add +0.4% | 0.45% | +0.02 |
| IVV iShares Core S&P 500 ETF | Add +0.9% | 1.24% | +0.02 |
| IHAK iShares Cybersecurity & Tech | Add +3.4% | 0.67% | +0.01 |
| WMT Walmart Inc. | Add +0.5% | 0.09% | +0.01 |
| GS Goldman Sachs Group Inc. | Add +0.3% | 0.07% | +0.01 |
| IBM Intl Business Machines Corp. | Add +0.4% | 0.05% | −0.00 |
| BRK.B Berkshire Hathaway Inc. Class B | Add +0.2% | 0.10% | −0.00 |
| JNJ Johnson & Johnson | Add +10.9% | 0.15% | −0.00 |
| SPGI S&P Global Inc. | Add +4.6% | 0.80% | −0.01 |
| XLE SS Energy Select Sector | Add +0.2% | 0.23% | −0.01 |
| XLB SS Materials Select Sector | Add +2.6% | 0.17% | −0.02 |
| SCHF Schwab Intl Equity ETF | Add +2.2% | 0.42% | −0.04 |
| XLV SS Health Care Select Sector | Add +1.1% | 0.51% | −0.06 |
| EMXC iShares MSCI Emr MRK Ex Chna | Add +1.1% | 1.85% | −0.20 |
| VEA Vanguard Ftse Developed ETF | Add +1.0% | 3.73% | −0.41 |
Options Activity Q3 2024 → Q4 2024
| SPY SS SPDR S&P 500 ETF Trust-US | put | Add +260.0% | 3,600 | $2.1M |
Calls and puts are listed by the shares they cover; their value is not part of the stock holdings above.
Notes & Other Activity Q3 2024 → Q4 2024
| WELLS FARGO & COMPANY (WFC 7.5 PERP L) | PERP PFD CNV A | Sold out | 160 | $205Kbefore 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 | 120 | $911.6M | NVDA, VEA, IGSB, XLK, GOOG |
| Q1 2026 | 108 | $819.2M | NVDA, VEA, IGSB, XLK, MSFT |
| Q4 2025 | 107 | $854.6M | NVDA, VEA, IGSB, MSFT, AAPL |
| Q3 2025 | 108 | $839.7M | NVDA, VEA, MSFT, IGSB, AAPL |
| Q2 2025 | 101 | $756.5M | NVDA, MSFT, VEA, IGSB, SPTS |
| Q1 2025 | 101 | $579.0M | NVDA, MSFT, IGSB, VEA, SPTS |
| Q4 2024 | 107 | $602.7M | NVDA, MSFT, AAPL, IGSB, SPTS |
| Q3 2024 | 108 | $593.3M | NVDA, MSFT, VEA, SPTS, AAPL |
| Q2 2024 | 105 | $563.5M | NVDA, MSFT, VEA, SPTS, IGSB |
| Q1 2024 | 103 | $523.1M | NVDA, MSFT, VEA, IGSB, SPTS |