Shelton Capital Management
In its 13F for Q3 2025 (holdings as of September 30, 2025, filed November 14, 2025), Shelton Capital Management reported 720 stock positions worth $4.7 billion. Its top holding was Apple (AAPL) at 8.5% of the portfolio, followed by Nvidia (NVDA, 8.3%) and Microsoft (MSFT, 5.9%). Compared with Q2 2025, it opened 63 new positions, sold out of 54, added to 86 and reduced 269. The biggest buy was Apple (AAPL, shares +4%) and the biggest sale an exit from Zoom Communications (ZM).
- Most Recent 13F
- Q2 2026
- Location
- Denver, CO
- CIK
- 0001002784
- Portfolio Value
- $4.7B (Q3 2025)
- SEC Filing
- 0001999371-25-017880 ↗ filed Nov 14, 2025
Holdings Value
Holdings 720 stocks · $4.7B
| AAPL Apple Inc. | 8.49% | 1,557,500 | $396.6M | Add +4.0% |
| NVDA Nvidia Corp. | 8.32% | 2,081,814 | $388.4M | Reduce -2.4% |
| MSFT Microsoft Corp. | 5.89% | 531,129 | $275.1M | Reduce -0.3% |
| AMZN Amazon.com Inc. | 3.60% | 765,081 | $168.0M | Reduce -2.9% |
| AVGO Broadcom Inc. | 3.48% | 491,907 | $162.3M | Reduce -3.9% |
| GOOGL Alphabet Inc. Class A | 2.71% | 520,161 | $126.5M | Reduce -2.0% |
| META Meta Platforms Inc. Class A | 2.47% | 157,228 | $115.5M | Reduce -5.1% |
| TSLA Tesla Inc. | 2.19% | 230,159 | $102.4M | Reduce -4.1% |
| NFLX Netflix Inc. | 1.59% | 61,817 | $74.1M | Reduce -2.6% |
| GOOG Alphabet Inc. Class C | 1.58% | 302,040 | $73.6M | Reduce -1.9% |
| CSCO Cisco Systems Inc. | 1.49% | 1,015,638 | $69.5M | Add +10.4% |
| COST Costco Wholesale Corp. | 1.21% | 61,267 | $56.7M | Reduce -0.0% |
| PLTR Palantir Technologies Inc. Class A | 1.10% | 282,447 | $51.5M | Reduce -1.6% |
| LRCX Lam Research Corp. | 0.86% | 301,020 | $40.3M | Add +71.7% |
| AMD Advanced Micro Devices | 0.80% | 230,383 | $37.3M | Add +0.1% |
| XOM Exxon Mobil Corp. | 0.78% | 321,194 | $36.2M | Add +0.7% |
| LIN Linde PLC | 0.77% | 75,353 | $35.8M | Reduce -1.6% |
| NTAP Netapp Inc. | 0.71% | 278,483 | $33.0M | Add +16.7% |
| TMUS T-Mobile US Inc. | 0.70% | 137,238 | $32.9M | Reduce -1.9% |
| BRK.B Berkshire Hathaway Inc. Class B | 0.69% | 63,859 | $32.1M | Add +20.3% |
| WMT Walmart Inc. | 0.69% | 311,253 | $32.1M | Add +10.5% |
| DIS The Walt Disney Co. filed as DISNEY WALT CO | 0.68% | 277,284 | $31.7M | Add +33.5% |
| BAC Bank of America Corp. filed as BANK AMERICA CORP | 0.66% | 597,132 | $30.8M | Reduce -3.2% |
| INTU Intuit Inc. | 0.65% | 44,431 | $30.3M | Add +7.2% |
| CMCSA Comcast Corp. Class A | 0.65% | 960,768 | $30.2M | Add +23.0% |
| PANW Palo Alto Networks Inc. | 0.65% | 147,951 | $30.1M | Add +9.1% |
| BKNG Booking Holdings Inc. | 0.62% | 5,370 | $29.0M | Add +8.3% |
| PYPL PayPal Holdings Inc. | 0.61% | 426,056 | $28.6M | Add +9.4% |
| ISRG Intuitive Surgical Inc. | 0.61% | 63,853 | $28.6M | Reduce -1.5% |
| FTNT Fortinet Inc. | 0.60% | 335,776 | $28.2M | Add +28.2% |
| JNJ Johnson & Johnson | 0.60% | 151,713 | $28.1M | Add +73.6% |
| MNST Monster Beverage Corp. | 0.56% | 391,757 | $26.4M | Add +9.0% |
| APP AppLovin Corp. Class A | 0.55% | 35,452 | $25.5M | Reduce -13.6% |
| HPQ HP Inc. | 0.54% | 926,860 | $25.2M | Add +25.7% |
| TXN Texas Instruments Inc. | 0.53% | 134,084 | $24.6M | Reduce -11.5% |
| RTX RTX Corp. | 0.52% | 145,842 | $24.4M | Reduce -12.6% |
| VZ Verizon Communications Inc. | 0.52% | 548,880 | $24.1M | Add +12.7% |
| CEG Constellation Energy | 0.51% | 72,222 | $23.8M | Reduce -1.4% |
| AMGN Amgen Inc. | 0.50% | 82,417 | $23.3M | Reduce -1.2% |
| CDNS Cadence Design SYS Inc. | 0.49% | 65,342 | $23.0M | Reduce -1.6% |
| ANET Arista Networks Inc. | 0.48% | 154,081 | $22.5M | Reduce -43.9% |
| HD Home Depot Inc. | 0.47% | 54,309 | $22.0M | Add +26.7% |
| MU Micron Technology Inc. | 0.47% | 131,479 | $22.0M | Reduce -2.4% |
| QCOM Qualcomm Inc. | 0.47% | 131,725 | $21.9M | Add +0.2% |
| TT Trane Technologies PLC | 0.47% | 51,913 | $21.9M | Add +23.2% |
| AMAT Applied Materials Inc. | 0.46% | 105,976 | $21.7M | Reduce -4.5% |
| DASH DoorDash Inc. Class A | 0.46% | 79,525 | $21.6M | Reduce -3.8% |
| APH Amphenol Corp. Class A | 0.45% | 171,156 | $21.2M | Add +2.3% |
| AFL Aflac Inc. | 0.45% | 187,594 | $21.0M | Add +4.9% |
| EBAY eBay Inc. | 0.44% | 228,051 | $20.7M | Add +0.1% |
| ADBE Adobe Inc. | 0.44% | 58,299 | $20.6M | Reduce -11.2% |
| CAT Caterpillar Inc. | 0.44% | 42,769 | $20.4M | Add +0.8% |
| PEP Pepsico Inc. | 0.43% | 144,527 | $20.3M | Reduce -11.9% |
| SHOP Shopify Inc. Class A | 0.43% | 134,571 | $20.0M | Reduce -2.2% |
| MA Mastercard Inc. Class A | 0.41% | 33,415 | $19.0M | Add +34.8% |
| CTSH Cognizant Tech Solutions-A | 0.40% | 277,000 | $18.6M | Add +325.8% |
| NXPI NXP Semiconductors NV | 0.40% | 81,293 | $18.5M | Reduce -2.5% |
| NEM Newmont Corp. | 0.39% | 214,265 | $18.1M | Reduce -4.4% |
| CRWD CrowdStrike Holdings Inc. Class A | 0.38% | 36,398 | $17.8M | Reduce -4.6% |
| GM General Motors Co. | 0.38% | 288,891 | $17.6M | Add +86.2% |
| ORLY O'reilly Automotive Inc. | 0.37% | 160,130 | $17.3M | Add +6.4% |
| BMY Bristol-Myers Squibb Co. | 0.37% | 380,888 | $17.2M | Add +3.5% |
| CVX Chevron Corp. | 0.36% | 109,549 | $17.0M | Add +1.1% |
| BA The Boeing Co. | 0.36% | 78,791 | $17.0M | Add +1.5% |
| KLAC KLA Corp. | 0.36% | 15,525 | $16.7M | Reduce -2.2% |
| ADP Automatic Data Processing | 0.36% | 56,810 | $16.7M | Reduce -2.7% |
| GILD Gilead Sciences Inc. | 0.34% | 144,164 | $16.0M | Reduce -2.2% |
| MRK Merck & Co. Inc. | 0.34% | 187,776 | $15.8M | Add +5.5% |
| HON Honeywell International Inc. | 0.34% | 74,782 | $15.7M | Reduce -2.3% |
| KO The Coca-Cola Co. | 0.34% | 235,842 | $15.6M | Add +0.6% |
| TRV The Travelers Cos Inc. | 0.33% | 55,183 | $15.4M | Add +3.9% |
| INTC Intel Corp. | 0.33% | 455,547 | $15.3M | Reduce -17.1% |
| DE Deere & Co. | 0.33% | 33,217 | $15.2M | Add +13.2% |
| SO The Southern Co. | 0.32% | 160,021 | $15.2M | Reduce -1.0% |
| AXP American Express Co. | 0.32% | 44,487 | $14.8M | Add +10.7% |
| BNY Bank of New York Mellon Corp. filed as BANK NEW YORK MELLON CORP | 0.31% | 133,616 | $14.6M | Reduce -21.4% |
| MSGS Madison Square Garden Sports | 0.31% | 63,858 | $14.5M | No change |
| ADI Analog Devices Inc. | 0.31% | 58,509 | $14.4M | Reduce -2.7% |
| VRTX Vertex Pharmaceuticals Inc. | 0.31% | 36,679 | $14.4M | Reduce -30.8% |
| LUV Southwest Airlines Co. | 0.31% | 448,492 | $14.3M | Add +16.4% |
| GS Goldman Sachs Group Inc. | 0.30% | 17,662 | $14.1M | Reduce -53.8% |
| JCI Johnson Controls Internation | 0.30% | 127,663 | $14.0M | Reduce -1.9% |
| JPM JPMorgan Chase & Co. | 0.30% | 43,892 | $13.8M | Add +12.0% |
| PG The Procter & Gamble Co. | 0.28% | 85,981 | $13.2M | Add +3.2% |
| CVS CVS Health Corp. | 0.28% | 175,081 | $13.2M | Add +5.4% |
| C Citigroup Inc. | 0.28% | 129,922 | $13.2M | Reduce -25.4% |
| MELI MercadoLibre Inc. | 0.28% | 5,600 | $13.1M | Reduce -2.9% |
| LLY Eli Lilly & Co. | 0.27% | 16,586 | $12.7M | Reduce -3.3% |
| CBRE CBRE Group Inc. Class A | 0.27% | 80,042 | $12.6M | Add +4.2% |
| ORCL Oracle Corp. | 0.27% | 44,026 | $12.4M | Add +13.4% |
| ULTA Ulta Beauty Inc. | 0.26% | 22,447 | $12.3M | Add +50.0% |
| FAST Fastenal Co. | 0.26% | 249,514 | $12.2M | Add +82.0% |
| NKE Nike Inc. Class B | 0.26% | 173,721 | $12.1M | Add +61.1% |
| BSX Boston Scientific Corp. | 0.26% | 123,494 | $12.1M | Add +1.1% |
| EMR Emerson Electric Co. | 0.26% | 91,384 | $12.0M | Add +2815.0% |
| V Visa Inc. Class A | 0.25% | 34,705 | $11.8M | Reduce -0.6% |
| UNH Unitedhealth Group Inc. | 0.25% | 34,072 | $11.8M | Reduce -0.5% |
| ABBV Abbvie Inc. | 0.25% | 50,486 | $11.7M | Add +28.5% |
| IBM Intl Business Machines Corp. filed as INTERNATIONAL BUSINESS MACHS | 0.25% | 40,994 | $11.6M | Reduce -24.8% |
| MS Morgan Stanley | 0.24% | 70,437 | $11.2M | Reduce -8.8% |
Options reported separately and not counted above: ACN puts ($743K), WLDN puts ($470K), NVDA puts ($469K), AAPL puts ($112K).
Portfolio Sells Q2 2025 → Q3 2025
| ZM Zoom Communications Inc. | Sold out | 0.00% | −0.39 |
| AMZN Amazon.com Inc. | Reduce -2.9% | 3.60% | −0.38 |
| NFLX Netflix Inc. | Reduce -2.6% | 1.59% | −0.37 |
| META Meta Platforms Inc. Class A | Reduce -5.1% | 2.47% | −0.34 |
| GS Goldman Sachs Group Inc. | Reduce -53.8% | 0.30% | −0.32 |
| VRTX Vertex Pharmaceuticals Inc. | Reduce -30.8% | 0.31% | −0.24 |
| MSFT Microsoft Corp. | Reduce -0.3% | 5.89% | −0.20 |
| ISRG Intuitive Surgical Inc. | Reduce -1.5% | 0.61% | −0.20 |
| TXN Texas Instruments Inc. | Reduce -11.5% | 0.53% | −0.20 |
| COST Costco Wholesale Corp. | Reduce -0.0% | 1.21% | −0.18 |
| OMC Omnicom Group | Sold out | 0.00% | −0.17 |
| ANET Arista Networks Inc. | Reduce -43.9% | 0.48% | −0.17 |
| CARR Carrier Global Corp. | Reduce -92.3% | 0.01% | −0.15 |
| ADBE Adobe Inc. | Reduce -11.2% | 0.44% | −0.14 |
| SNPS Synopsys Inc. | Reduce -28.2% | 0.24% | −0.13 |
| SBUX Starbucks Corp. | Reduce -26.9% | 0.22% | −0.13 |
| IBM Intl Business Machines Corp. | Reduce -24.8% | 0.25% | −0.12 |
| UPS United Parcel Service Class B | Reduce -87.6% | 0.01% | −0.12 |
| TJX TJX Companies Inc. | Reduce -39.2% | 0.23% | −0.12 |
| PHM Pultegroup Inc. | Sold out | 0.00% | −0.11 |
| EXPE Expedia Group Inc. | Sold out | 0.00% | −0.11 |
| T AT&T Inc. | Reduce -27.6% | 0.20% | −0.10 |
| ANSS Ansys Inc. | Sold out | 0.00% | −0.08 |
| MSTR Strategy Inc. | Reduce -5.7% | 0.19% | −0.08 |
| SPGI S&P Global Inc. | Reduce -69.8% | 0.03% | −0.08 |
| CHTR Charter Communications Inc. Class A | Reduce -21.0% | 0.08% | −0.08 |
| CMG Chipotle Mexican Grill Inc. | Reduce -1.6% | 0.14% | −0.08 |
| HON Honeywell International Inc. | Reduce -2.3% | 0.34% | −0.07 |
| ACN Accenture PLC Class A | Reduce -0.1% | 0.24% | −0.07 |
| TEAM Atlassian Corp. Class A | Reduce -37.6% | 0.06% | −0.07 |
| TRMB Trimble Inc. | Sold out | 0.00% | −0.07 |
| HPE Hewlett Packard Enterprise | Reduce -41.1% | 0.13% | −0.07 |
| ABNB Airbnb Inc. Class A | Reduce -32.8% | 0.09% | −0.07 |
| MELI MercadoLibre Inc. | Reduce -2.9% | 0.28% | −0.07 |
| NEE Nextera Energy Inc. | Reduce -39.2% | 0.11% | −0.07 |
| CRWD CrowdStrike Holdings Inc. Class A | Reduce -4.6% | 0.38% | −0.06 |
| MDLZ Mondelez International Inc. Class A | Reduce -14.9% | 0.18% | −0.06 |
| AWK American Water Works Co. Inc. | Reduce -44.7% | 0.07% | −0.06 |
| NOW ServiceNow Inc. | Reduce -15.4% | 0.15% | −0.06 |
| PEP Pepsico Inc. | Reduce -11.9% | 0.43% | −0.06 |
| AEIS Advanced Energy Industries | Reduce -93.1% | 0.01% | −0.06 |
| TMUS T-Mobile US Inc. | Reduce -1.9% | 0.70% | −0.06 |
| LIN Linde PLC | Reduce -1.6% | 0.77% | −0.06 |
| DXCM Dexcom Inc. | Reduce -26.1% | 0.07% | −0.06 |
| AZO AutoZone Inc. | Reduce -35.0% | 0.14% | −0.06 |
| C Citigroup Inc. | Reduce -25.4% | 0.28% | −0.06 |
| GLW Corning Inc. | Reduce -59.3% | 0.08% | −0.06 |
| ADP Automatic Data Processing | Reduce -2.7% | 0.36% | −0.06 |
| CRM Salesforce Inc. | Reduce -1.2% | 0.23% | −0.06 |
| VICI Vici Properties Inc. | Reduce -14.6% | 0.21% | −0.05 |
Portfolio Buys Q2 2025 → Q3 2025
| AAPL Apple Inc. | Add +4.0% | 8.49% | +1.42 |
| LRCX Lam Research Corp. | Add +71.7% | 0.86% | +0.47 |
| JNJ Johnson & Johnson | Add +73.6% | 0.60% | +0.30 |
| CTSH Cognizant Tech Solutions-A | Add +325.8% | 0.40% | +0.28 |
| EMR Emerson Electric Co. | Add +2815.0% | 0.26% | +0.25 |
| GM General Motors Co. | Add +86.2% | 0.38% | +0.20 |
| SEPI Shelton Eqty Premium Inc. ETF | New | 0.19% | +0.19 |
| TRI Thomson Reuters Corp. | New | 0.17% | +0.17 |
| FAST Fastenal Co. | Add +82.0% | 0.26% | +0.13 |
| HPQ HP Inc. | Add +25.7% | 0.54% | +0.13 |
| NTAP Netapp Inc. | Add +16.7% | 0.71% | +0.12 |
| HD Home Depot Inc. | Add +26.7% | 0.47% | +0.11 |
| WLDN Willdan Group Inc. | New | 0.10% | +0.10 |
| ULTA Ulta Beauty Inc. | Add +50.0% | 0.26% | +0.10 |
| NUE Nucor Corp. | New | 0.10% | +0.10 |
| BRK.B Berkshire Hathaway Inc. Class B | Add +20.3% | 0.69% | +0.09 |
| DIS The Walt Disney Co. | Add +33.5% | 0.68% | +0.09 |
| MA Mastercard Inc. Class A | Add +34.8% | 0.41% | +0.09 |
| NKE Nike Inc. Class B | Add +61.1% | 0.26% | +0.08 |
| ABBV Abbvie Inc. | Add +28.5% | 0.25% | +0.08 |
| VST Vistra Corp. | Add +975.4% | 0.08% | +0.08 |
| APH Amphenol Corp. Class A | Add +2.3% | 0.45% | +0.07 |
| ORCL Oracle Corp. | Add +13.4% | 0.27% | +0.07 |
| CAT Caterpillar Inc. | Add +0.8% | 0.44% | +0.06 |
| ORLY O'reilly Automotive Inc. | Add +6.4% | 0.37% | +0.06 |
| EBAY eBay Inc. | Add +0.1% | 0.44% | +0.05 |
| WMT Walmart Inc. | Add +10.5% | 0.69% | +0.05 |
| HLT Hilton Worldwide Holdings Inc. | Add +65.5% | 0.15% | +0.05 |
| AMD Advanced Micro Devices | Add +0.1% | 0.80% | +0.05 |
| MNST Monster Beverage Corp. | Add +9.0% | 0.56% | +0.05 |
| HSY The Hershey Co. | Add +126.4% | 0.08% | +0.05 |
| TT Trane Technologies PLC | Add +23.2% | 0.47% | +0.05 |
| NDAQ Nasdaq Inc. | Add +891.5% | 0.04% | +0.04 |
| JPM JPMorgan Chase & Co. | Add +12.0% | 0.30% | +0.04 |
| VZ Verizon Communications Inc. | Add +12.7% | 0.52% | +0.03 |
| PWR Quanta Services Inc. | Add +104.5% | 0.05% | +0.03 |
| CBRE CBRE Group Inc. Class A | Add +4.2% | 0.27% | +0.02 |
| AXP American Express Co. | Add +10.7% | 0.32% | +0.02 |
| CNP Centerpoint Energy Inc. | New | 0.02% | +0.02 |
| CSCO Cisco Systems Inc. | Add +10.4% | 1.49% | +0.02 |
| MRSH Marsh & McLennan Cos | Add +87.8% | 0.05% | +0.02 |
| CVS CVS Health Corp. | Add +5.4% | 0.28% | +0.02 |
| LUV Southwest Airlines Co. | Add +16.4% | 0.31% | +0.02 |
| NXT Nextpower Inc. | Add +200.6% | 0.02% | +0.02 |
| ERIC Ericsson (lm) Tel-SP ADR | New | 0.02% | +0.02 |
| AFL Aflac Inc. | Add +4.9% | 0.45% | +0.01 |
| NTNX Nutanix Inc. Class A | New | 0.01% | +0.01 |
| TLN Talen Energy Corp. | New | 0.01% | +0.01 |
| MRK Merck & Co. Inc. | Add +5.5% | 0.34% | +0.01 |
| SHG Shinhan Financial Group-ADR | New | 0.01% | +0.01 |
Options Activity Q2 2025 → Q3 2025
| ACN Accenture PLC Class A | put | Reduce -94.6% | 13,500 | $743K |
| WLDN Willdan Group Inc. | put | New | 50,000 | $470K |
| NVDA Nvidia Corp. | put | Add +107.0% | 246,000 | $469K |
| AAPL Apple Inc. | put | Reduce -40.9% | 87,700 | $112K |
| XOM Exxon Mobil Corp. | put | Sold out | 3,744 | $10Kbefore exit |
Calls and puts are listed by the shares they cover; their value is not part of the stock holdings above.
All Filings
| Quarter | Positions | 13F Reported Value | Top Holdings |
|---|---|---|---|
| Q2 2026 | 744 | $5.4B | AAPL, NVDA, MSFT, MU, AMZN |
| Q1 2026 | 713 | $4.6B | AAPL, NVDA, MSFT, AMZN, GOOGL |
| Q4 2025 | 699 | $5.1B | AAPL, NVDA, MSFT, AMZN, GOOGL |
| Q3 2025 | 720 | $4.7B | AAPL, NVDA, MSFT, AMZN, AVGO |
| Q2 2025 | 711 | $4.3B | NVDA, AAPL, MSFT, AMZN, AVGO |
| Q1 2025 | 693 | $4.2B | AAPL, MSFT, NVDA, AMZN, META |
| Q4 2024 | 723 | $4.0B | AAPL, NVDA, MSFT, AMZN, AVGO |
| Q3 2024 | 745 | $3.9B | AAPL, NVDA, MSFT, AMZN, META |
| Q2 2024 | 706 | $3.7B | AAPL, MSFT, NVDA, AMZN, META |
| Q1 2024 | 730 | $3.5B | AAPL, MSFT, NVDA, AMZN, META |