Nelson Capital Management, LLC

In its 13F for Q4 2025 (holdings as of December 31, 2025, filed February 10, 2026), Nelson Capital Management, LLC reported 107 stock positions worth $854.6 million. Its top holding was Nvidia (NVDA) at 34.9% of the portfolio, followed by Vanguard Ftse Developed ETF (VEA, 4.7%) and iShares 1-5Y Inv Grade (IGSB, 4.1%). Compared with Q3 2025, it opened 3 new positions, sold out of 4, added to 31 and reduced 61. The biggest buy was iShares 1-5Y Inv Grade (IGSB, shares +15%) and the biggest sale Microsoft (MSFT, shares −2%).

Most Recent 13F
Q2 2026
Location
MENLO PARK, CA
CIK
0001512611
Portfolio Value
$854.6M (Q4 2025)
SEC Filing
0001512611-26-000001 ↗ filed Feb 10, 2026

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 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 $854.6M Q4 2025 Q1 2026: $819.2M Q1 2026 Q2 2026: $911.6M Q2 2026

Holdings 107 stocks · $854.6M
NVDA Nvidia Corp. 34.93% 1,600,451 $298.5M Add +0.1%
VEA Vanguard Ftse Developed ETF 4.70% 643,177 $40.2M Add +1.6%
IGSB iShares 1-5Y Inv Grade Corp. 4.09% 660,602 $34.9M Add +15.0%
MSFT Microsoft Corp. 3.88% 68,627 $33.2M Reduce -2.1%
AAPL Apple Inc. 3.05% 95,940 $26.1M Reduce -0.7%
SPTS SS SPDR P St Term TSY ETF 2.96% 865,293 $25.3M Add +3.8%
GOOG Alphabet Inc. Class C 2.91% 79,214 $24.9M Reduce -3.6%
XLK SS Technology Select Sector 2.75% 163,088 $23.5M Add +19.0%
XLI SS Industrial Select Sector 2.34% 129,065 $20.0M Reduce -1.6%
VB Vanguard Most SM-Cap ETF-Usd 1.90% 62,859 $16.2M Reduce -0.6%
JPM JPMorgan Chase & Co. 1.64% 43,520 $14.0M Reduce -1.1%
AMZN Amazon.com Inc. 1.61% 59,783 $13.8M Reduce -2.6%
VPU Vanguard Utilities ETF 1.33% 61,406 $11.4M Add +1.5%
V Visa Inc. Class A 1.25% 30,522 $10.7M Reduce -0.9%
CSCO Cisco Systems Inc. 1.22% 135,543 $10.4M Add +1.4%
SPY SS SPDR S&P 500 ETF Trust-US 1.20% 15,048 $10.3M Reduce -3.4%
AEM Agnico Eagle Mines Ltd. 1.12% 56,519 $9.6M Reduce -1.3%
EMXC iShares MSCI Emr MRK Ex Chna 1.10% 129,229 $9.4M Reduce -3.3%
IVV iShares Core S&P 500 ETF 1.10% 13,674 $9.4M Reduce -0.6%
VWO Vanguard Ftse Emerging Marke 0.99% 157,399 $8.5M Add +0.7%
COST Costco Wholesale Corp. 0.99% 9,784 $8.4M Reduce -3.4%
QCOM Qualcomm Inc. 0.98% 48,844 $8.4M Reduce -0.3%
TJX TJX Companies Inc. filed as TJX COS INC NEW 0.83% 45,909 $7.1M Reduce -0.3%
PG The Procter & Gamble Co. 0.80% 47,809 $6.9M Reduce -1.8%
XCEM Columbia Em Core Ex-China 0.72% 159,893 $6.1M Add +6.3%
XOM Exxon Mobil Corp. 0.69% 49,285 $5.9M Add +0.1%
BKNG Booking Holdings Inc. 0.69% 1,099 $5.9M Reduce -2.4%
SYK Stryker Corp. 0.66% 16,029 $5.6M Reduce -1.8%
ABBV Abbvie Inc. 0.61% 22,992 $5.3M Reduce -1.8%
SPGI S&P Global Inc. 0.60% 9,874 $5.2M Reduce -0.6%
XLF SS Financial Select Sector 0.60% 92,981 $5.1M Add +12.6%
LLY Eli Lilly & Co. 0.58% 4,650 $5.0M Reduce -1.0%
AMGN Amgen Inc. 0.56% 14,526 $4.8M Reduce -2.6%
IHAK iShares Cybersecurity & Tech 0.53% 94,266 $4.5M Add +1.6%
CVX Chevron Corp. 0.51% 28,505 $4.3M Reduce -2.2%
ROP Roper Technologies Inc. 0.50% 9,589 $4.3M Reduce -0.2%
DIS The Walt Disney Co. filed as DISNEY WALT CO 0.49% 36,827 $4.2M Add +4.1%
TMO Thermo Fisher Scientific Inc. 0.48% 7,139 $4.1M Reduce -2.5%
XLRE SS Real Estate Select Sector 0.48% 101,769 $4.1M Reduce -0.0%
XLV SS Health Care Select Sector 0.48% 26,343 $4.1M Add +4.5%
ISRG Intuitive Surgical Inc. 0.47% 7,118 $4.0M Add +3.1%
XLC SS Comm Select Sector SPDR 0.45% 32,754 $3.9M Add +0.2%
SCHW Schwab (charles) Corp. 0.45% 38,369 $3.8M Reduce -1.6%
LIN Linde PLC 0.44% 8,849 $3.8M Reduce -0.4%
TEL Te Connectivity PLC 0.42% 15,758 $3.6M Add +1.2%
XLY SS Consumer Disc Select Sect 0.41% 29,199 $3.5M Add +4.1%
AJG Arthur J Gallagher & Co. filed as GALLAGHER ARTHUR J & CO 0.40% 13,087 $3.4M Reduce -1.9%
EMR Emerson Electric Co. 0.39% 25,263 $3.4M Reduce -1.1%
BRK.B Berkshire Hathaway Inc. Class B 0.37% 6,365 $3.2M Add +1.1%
CB Chubb Ltd. 0.37% 10,099 $3.2M Reduce -1.0%
HD Home Depot Inc. 0.37% 9,105 $3.1M Reduce -1.9%
GLD SPDR Gold Shares 0.36% 7,658 $3.0M No change
SCHF Schwab Intl Equity ETF 0.35% 124,032 $3.0M Reduce -4.3%
XYL Xylem Inc. 0.32% 20,178 $2.7M Reduce -1.3%
SHEL Shell PLC-ADR 0.30% 35,270 $2.6M Add +0.7%
KO The Coca-Cola Co. 0.30% 37,032 $2.6M Add +2.3%
BSX Boston Scientific Corp. 0.29% 26,016 $2.5M Add +0.3%
NFLX Netflix Inc. 0.29% 26,042 $2.4M New
MAS Masco Corp. 0.28% 37,772 $2.4M Reduce -1.9%
XLP SS Consumer Staples Sel Sect 0.27% 29,364 $2.3M Add +5.1%
CRM Salesforce Inc. 0.27% 8,581 $2.3M Reduce -1.5%
ORCL Oracle Corp. 0.23% 10,286 $2.0M Reduce -1.6%
GOOGL Alphabet Inc. Class A 0.22% 5,908 $1.8M Add +5.8%
JEPI JPMorgan Equity Premium Inco 0.21% 31,310 $1.8M Reduce -14.9%
XLE SS Energy Select Sector 0.19% 36,388 $1.6M Reduce -2.6%
XLB SS Materials Select Sector 0.16% 30,870 $1.4M Add +14.7%
META Meta Platforms Inc. Class A 0.14% 1,769 $1.2M Reduce -4.5%
TPL Texas Pacific Land Corp. 0.13% 3,903 $1.1M No change
IJR iShares Core S&P Small-Cap E 0.13% 9,186 $1.1M Reduce -6.1%
INTU Intuit Inc. 0.13% 1,665 $1.1M Reduce -0.1%
JNJ Johnson & Johnson 0.12% 5,156 $1.1M Reduce -3.1%
JPST JPMorgan Ultra-Short Income 0.12% 21,085 $1.1M Reduce -4.6%
QQQ Invesco QQQ Trust Series 1 0.12% 1,627 $999K Reduce -4.2%
ADBE Adobe Inc. 0.12% 2,842 $995K Reduce -59.1%
VUG Vanguard Mrngstar GR ETF-Sui 0.09% 1,533 $748K No change
NUE Nucor Corp. 0.07% 3,632 $592K Add +16.0%
ABNB Airbnb Inc. Class A 0.07% 4,263 $579K Reduce -7.6%
WMT Walmart Inc. 0.07% 5,093 $567K No change
SCHO Schwab Short-Term US Treas 0.07% 22,872 $557K Reduce -4.1%
PFFD Global X US Preferred ETF 0.06% 28,442 $538K Reduce -8.5%
AVGO Broadcom Inc. 0.06% 1,506 $521K Reduce -0.1%
NVRI Enviri Corp. 0.06% 28,825 $517K No change
ABT Abbott Laboratories 0.06% 4,070 $510K Reduce -1.6%
LRCX Lam Research Corp. 0.06% 2,885 $494K Reduce -27.7%
VOO Vanguard S&P 500 ETF 0.06% 782 $490K Reduce -9.3%
DHS Wisdomtree US High Dividend 0.06% 4,700 $479K Reduce -5.0%
PANW Palo Alto Networks Inc. 0.05% 2,328 $429K Reduce -10.4%
MRK Merck & Co. Inc. 0.05% 4,045 $426K Reduce -13.2%
P Everpure Inc. Class A filed as PURE STORAGE INC 0.05% 6,286 $421K Reduce -10.0%
IWO iShares Russell 2000 Growth 0.05% 1,250 $404K No change
IBM Intl Business Machines Corp. filed as INTERNATIONAL BUSINESS MACHS 0.05% 1,322 $392K Reduce -10.6%
GS Goldman Sachs Group Inc. 0.04% 437 $384K No change
PM Philip Morris International 0.04% 2,388 $383K Add +39.6%
MCD McDonald's Corp. 0.04% 1,202 $367K Add +4.5%
TSLA Tesla Inc. 0.04% 806 $362K Add +15.8%
VONG Vanguard Russell 1000 Growth 0.04% 2,951 $359K No change
PH Parker Hannifin Corp. 0.04% 385 $338K No change
IJH iShares Core S&P Midcap ETF 0.04% 5,005 $330K No change
CAT Caterpillar Inc. 0.04% 538 $308K Add +7.4%
NEM Newmont Corp. 0.03% 2,949 $294K Reduce -25.3%

Show all 107 holdings

Portfolio Sells Q3 2025 → Q4 2025
MSFT Microsoft Corp. Reduce -2.1% 3.88% −0.44
VZ Verizon Communications Inc. Reduce -89.2% 0.03% −0.29
CMCSA Comcast Corp. Class A Sold out 0.00% −0.26
ADBE Adobe Inc. Reduce -59.1% 0.12% −0.18
COST Costco Wholesale Corp. Reduce -3.4% 0.99% −0.13
ORCL Oracle Corp. Reduce -1.6% 0.23% −0.12
AJG Arthur J Gallagher & Co. Reduce -1.9% 0.40% −0.10
PG The Procter & Gamble Co. Reduce -1.8% 0.80% −0.09
HD Home Depot Inc. Reduce -1.9% 0.37% −0.08
ROP Roper Technologies Inc. Reduce -0.2% 0.50% −0.07
XLI SS Industrial Select Sector Reduce -1.6% 2.34% −0.07
LIN Linde PLC Reduce -0.4% 0.44% −0.06
SYK Stryker Corp. Reduce -1.8% 0.66% −0.06
MAS Masco Corp. Reduce -1.9% 0.28% −0.04
JEPI JPMorgan Equity Premium Inco Reduce -14.9% 0.21% −0.04
XYL Xylem Inc. Reduce -1.3% 0.32% −0.04
BKNG Booking Holdings Inc. Reduce -2.4% 0.69% −0.04
SPY SS SPDR S&P 500 ETF Trust-US Reduce -3.4% 1.20% −0.03
ABBV Abbvie Inc. Reduce -1.8% 0.61% −0.03
CVX Chevron Corp. Reduce -2.2% 0.51% −0.03
XLRE SS Real Estate Select Sector Reduce -0.0% 0.48% −0.03
AEM Agnico Eagle Mines Ltd. Reduce -1.3% 1.12% −0.03
NSC Norfolk Southern Corp. Sold out 0.00% −0.03
BLK BlackRock Inc. Sold out 0.00% −0.03
META Meta Platforms Inc. Class A Reduce -4.5% 0.14% −0.03
CSX CSX Corp. Sold out 0.00% −0.02
P Everpure Inc. Class A Reduce -10.0% 0.05% −0.02
VB Vanguard Most SM-Cap ETF-Usd Reduce -0.6% 1.90% −0.02
PANW Palo Alto Networks Inc. Reduce -10.4% 0.05% −0.01
CRBU Caribou Biosciences Inc. Reduce -31.0% 0.01% −0.01
JPM JPMorgan Chase & Co. Reduce -1.1% 1.64% −0.01
SCHF Schwab Intl Equity ETF Reduce -4.3% 0.35% −0.01
IJR iShares Core S&P Small-Cap E Reduce -6.1% 0.13% −0.01
PFFD Global X US Preferred ETF Reduce -8.5% 0.06% −0.01
JPST JPMorgan Ultra-Short Income Reduce -4.6% 0.12% −0.01
XLE SS Energy Select Sector Reduce -2.6% 0.19% −0.01
EMR Emerson Electric Co. Reduce -1.1% 0.39% −0.01
INTU Intuit Inc. Reduce -0.1% 0.13% −0.01
ABT Abbott Laboratories Reduce -1.6% 0.06% −0.01
LRCX Lam Research Corp. Reduce -27.7% 0.06% −0.01
VOO Vanguard S&P 500 ETF Reduce -9.3% 0.06% −0.01
NEM Newmont Corp. Reduce -25.3% 0.03% −0.01
QQQ Invesco QQQ Trust Series 1 Reduce -4.2% 0.12% −0.00
SCHO Schwab Short-Term US Treas Reduce -4.1% 0.07% −0.00
IBM Intl Business Machines Corp. Reduce -10.6% 0.05% −0.00
DHS Wisdomtree US High Dividend Reduce -5.0% 0.06% −0.00
IVV iShares Core S&P 500 ETF Reduce -0.6% 1.10% −0.00
V Visa Inc. Class A Reduce -0.9% 1.25% +0.00
ABNB Airbnb Inc. Class A Reduce -7.6% 0.07% +0.00
AVGO Broadcom Inc. Reduce -0.1% 0.06% +0.00

Portfolio Buys Q3 2025 → Q4 2025
IGSB iShares 1-5Y Inv Grade Corp. Add +15.0% 4.09% +0.46
XLK SS Technology Select Sector Add +19.0% 2.75% +0.45
NFLX Netflix Inc. New 0.29% +0.29
VEA Vanguard Ftse Developed ETF Add +1.6% 4.70% +0.18
CSCO Cisco Systems Inc. Add +1.4% 1.22% +0.13
ISRG Intuitive Surgical Inc. Add +3.1% 0.47% +0.10
XCEM Columbia Em Core Ex-China Add +6.3% 0.72% +0.07
XLF SS Financial Select Sector Add +12.6% 0.60% +0.07
XLV SS Health Care Select Sector Add +4.5% 0.48% +0.06
GOOGL Alphabet Inc. Class A Add +5.8% 0.22% +0.05
SPTS SS SPDR P St Term TSY ETF Add +3.8% 2.96% +0.05
XOM Exxon Mobil Corp. Add +0.1% 0.69% +0.03
DHR Danaher Corp. New 0.03% +0.03
XME SS SPDR S&P Metals Mining New 0.02% +0.02
XLB SS Materials Select Sector Add +14.7% 0.16% +0.02
NUE Nucor Corp. Add +16.0% 0.07% +0.02
KO The Coca-Cola Co. Add +2.3% 0.30% +0.02
TEL Te Connectivity PLC Add +1.2% 0.42% +0.01
PM Philip Morris International Add +39.6% 0.04% +0.01
DIS The Walt Disney Co. Add +4.1% 0.49% +0.01
XLY SS Consumer Disc Select Sect Add +4.1% 0.41% +0.01
CAT Caterpillar Inc. Add +7.4% 0.04% +0.01
XLP SS Consumer Staples Sel Sect Add +5.1% 0.27% +0.01
TSLA Tesla Inc. Add +15.8% 0.04% +0.01
SHEL Shell PLC-ADR Add +0.7% 0.30% +0.00
ICLN iShares Global Clean Energy Add +3.5% 0.03% +0.00
MCD McDonald's Corp. Add +4.5% 0.04% +0.00
BRK.B Berkshire Hathaway Inc. Class B Add +1.1% 0.37% −0.00
XLC SS Comm Select Sector SPDR Add +0.2% 0.45% −0.01
BSX Boston Scientific Corp. Add +0.3% 0.29% −0.01
VWO Vanguard Ftse Emerging Marke Add +0.7% 0.99% −0.02
VPU Vanguard Utilities ETF Add +1.5% 1.33% −0.04
IHAK iShares Cybersecurity & Tech Add +1.6% 0.53% −0.05
NVDA Nvidia Corp. Add +0.1% 34.93% −0.61

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