CALDWELL SUTTER CAPITAL, INC.

SAUSALITO, CA · CIK 702007 · 13F filing filed 2026-08-05

SEC-registered investment adviser since 2006 · corporation

Assets managed$605.7m
Staff17 · 5 in investment roles
Main clients (by assets)High net worth individuals 70%, Individuals 25%, Companies 4%
Websitecald.com
Form ADV · 2026-04-17SEC adviser record

Legal entityCALDWELL SUTTER CAPITAL, INC. (US)

$265.2m reported value +7.9% vs Q1 2026

930positions

24.0%in top 10

69 new 159 added 192 reduced 33 sold out vs Q1 2026

Holdings, Q2 2026

The small lines show how much was held over the last 4 quarters (adjusted for stock splits).

#	Security	Ticker	Shares	Value	% of portfolio	Change	Shares change
1	APPLE INC COM AAPL	AAPL	46,641	$13.5m5.09%	5.09%	Added +68	+68 0.1%
2	CATERPILLAR INC COM CAT	CAT	7,994	$8.5m3.21%	3.21%	Reduced -186	-186 -2.3%
3	PERMA-PIPE INTL HLDGS INC COM PPIH	PPIH	231,638	$6.3m2.38%	2.38%	Reduced -2.6k	-2,600 -1.1%
4	PLUMAS BANCORP COM PLBC	PLBC	106,283	$6.2m2.34%	2.34%	Unchanged
5	KINETIK HOLDINGS INC COM NEW CL A KNTK	KNTK	117,726	$5.7m2.15%	2.15%	Reduced -844	-844 -0.7%
6	MSA SAFETY INC COM MSA	MSA	28,879	$5.0m1.90%	1.90%	Reduced -400	-400 -1.4%
7	ISHARES TR 0-3 MNTH TREASRY SGOV	SGOV	50,024	$5.0m1.90%	1.90%	Added +6.1k	+6,090 13.9%
8	SUMMIT ST BK SANTA ROSA CALI COM SSBI	SSBI	349,284	$4.7m1.79%	1.79%	Added +2.2k	+2,221 0.6%
9	VISA INC COM CL A V	V	12,850	$4.4m1.66%	1.66%	Reduced -71	-71 -0.6%
10	DONEGAL GROUP INC CL A DGICA	DGICA	226,439	$4.3m1.61%	1.61%	Added +14.1k	+14,136 6.7%
11	BERKSHIRE HATHAWAY INC DEL CL B NEW BRK.B	BRK.B	8,096	$4.1m1.53%	1.53%	Added +982	+982 13.8%
12	ISHARES TR CORE S&P500 ETF IVV	IVV	4,770	$3.6m1.35%	1.35%	Reduced -51	-51 -1.1%
13	SENECA FOODS CORP NEW CL A SENEA	SENEA	19,596	$3.4m1.29%	1.29%	Reduced -400	-400 -2.0%
14	VANGUARD SPECIALIZED FUNDS DIV APP ETF VIG	VIG	14,323	$3.4m1.28%	1.28%	Added +112	+112 0.8%
15	CISCO SYS INC COM CSCO	CSCO	25,973	$3.1m1.15%	1.15%	Reduced -1.1k	-1,078 -4.0%
16	PARKE BANCORP INC COM PKBK	PKBK	91,336	$3.0m1.14%	1.14%	Unchanged
17	CHEVRON CORP NEW COM CVX	CVX	16,865	$2.8m1.05%	1.05%	Added +53	+53 0.3%
18	MICROSOFT CORP COM MSFT	MSFT	7,414	$2.8m1.04%	1.04%	Added +135	+135 1.9%
19	COSTCO WHSL CORP NEW COM COST	COST	2,948	$2.8m1.04%	1.04%	Reduced -65	-65 -2.2%
20	BAYCOM CORP COM BCML	BCML	80,010	$2.6m0.99%	0.99%	Unchanged
21	ISHARES TR EXPND TEC SC ETF IGM	IGM	15,120	$2.5m0.93%	0.93%	Reduced -600	-600 -3.8%
22	FIRSTSUN CAP BANCORP COM FSUN	FSUN	60,912	$2.4m0.89%	0.89%	Added +2.6k	+2,590 4.4%
23	JPMORGAN CHASE & CO COM JPM	JPM	7,167	$2.3m0.88%	0.88%	Reduced -1.8k	-1,829 -20.3%
24	INTERNATIONAL BUSINESS MACHS COM IBM	IBM	8,292	$2.3m0.88%	0.88%	Added +38	+38 0.5%
25	VANGUARD INDEX FDS TOTAL STK MKT VTI	VTI	5,982	$2.2m0.83%	0.83%	Reduced -146	-146 -2.4%
26	COMMUNITY WEST BANCSHARES NE COM CWBC	CWBC	78,625	$2.1m0.80%	0.80%	Added +4.5k	+4,548 6.1%
27	FIRST INTERNET BANCORP COM INBK	INBK	74,899	$2.1m0.79%	0.79%	Reduced -2.0k	-2,000 -2.6%
28	MODINE MFG CO COM MOD	MOD	7,539	$2.0m0.76%	0.76%	Reduced -5.4k	-5,400 -41.7%
29	KAYNE ANDERSON ENERGY INFRST COM KYN	KYN	141,106	$2.0m0.74%	0.74%	Added +34	+34 0.0%
30	AMERICAN EXPRESS CO COM AXP	AXP	5,739	$1.9m0.73%	0.73%	Reduced -1.6k	-1,599 -21.8%
31	EXXONMOBIL HOLDINGS CORP COM SHS STOCK XOM	XOM	13,755	$1.9m0.71%	0.71%	New
32	META PLATFORMS INC CL A META	META	3,189	$1.8m0.68%	0.68%	Added +74	+74 2.4%
33	UNION PAC CORP COM UNP	UNP	6,602	$1.8m0.68%	0.68%	Added +83	+83 1.3%
34	BANNER CORP COM NEW BANR	BANR	26,074	$1.7m0.65%	0.65%	Reduced -2.2k	-2,187 -7.7%
35	NEW ENGLAND RLTY ASSOC LTD P DEPOSITRY RCPT NEN	NEN	29,019	$1.7m0.64%	0.64%	Unchanged
36	JOHNSON & JOHNSON COM JNJ	JNJ	6,576	$1.7m0.63%	0.63%	Added +171	+171 2.7%
37	HOMESTREET INC COM MCHB	MCHB	103,285	$1.6m0.62%	0.62%	Unchanged
38	ELECTRO-SENSORS INC COM COM		212,600	$1.6m0.61%	0.61%	Reduced -37.6k	-37,561 -15.0%
39	INTERGROUP CORP COM INTG	INTG	32,889	$1.6m0.60%	0.60%	Reduced -339	-339 -1.0%
40	PEPSICO INC COM PEP	PEP	11,518	$1.6m0.59%	0.59%	Added +44	+44 0.4%
41	AMERICAN RLTY INVS INC COM ARL	ARL	69,222	$1.5m0.58%	0.58%	Reduced -1.5k	-1,497 -2.1%
42	WILEY JOHN & SONS INC CL A WLY	WLY	31,535	$1.5m0.58%	0.58%	Unchanged
43	CENTRAL SECS CORP COM CET	CET	28,121	$1.5m0.56%	0.56%	Added +3.9k	+3,857 15.9%
44	BARINGS CORPORATE INVS COM MCI	MCI	83,984	$1.5m0.56%	0.56%	Unchanged
45	INTEL CORP COM INTC	INTC	10,443	$1.5m0.55%	0.55%	Reduced -1.6k	-1,615 -13.4%
46	A-MARK PRECIOUS METALS INC COM GOLD	GOLD	34,767	$1.4m0.55%	0.55%	Reduced -1.0k	-1,035 -2.9%
47	PFIZER INC COM PFE	PFE	56,959	$1.4m0.52%	0.52%	Reduced -9.4k	-9,384 -14.1%
48	WISDOMTREE TR FLOATNG RAT TREA USFR	USFR	26,526	$1.3m0.50%	0.50%	Added +2.7k	+2,672 11.2%
49	SMARTFINANCIAL INC COM NEW SMBK	SMBK	28,431	$1.3m0.50%	0.50%	Unchanged
50	ABBVIE INC COM ABBV	ABBV	5,152	$1.3m0.49%	0.49%	Added +29	+29 0.6%
51	NORTHRIM BANCORP INC COM NRIM	NRIM	46,204	$1.3m0.48%	0.48%	Unchanged
52	AMREP CORP COM AXR	AXR	49,472	$1.2m0.47%	0.47%	Unchanged
53	VANGUARD INDEX FDS GROWTH ETF VUG	VUG	14,435	$1.2m0.47%	0.47%	Reduced -691	-691 -4.6%
54	UMH PPTYS INC COM UMH	UMH	81,923	$1.2m0.47%	0.47%	Reduced -1.1k	-1,100 -1.3%
55	ALPHABET INC CAP STK CL A GOOGL	GOOGL	3,390	$1.2m0.46%	0.46%	Reduced -50	-50 -1.4%
56	NATURAL ALTERNATIVES INTL IN COM NEW NAII	NAII	498,220	$1.2m0.45%	0.45%	Reduced -572	-572 -0.1%
57	MERCK & CO INC COM MRK	MRK	9,164	$1.2m0.44%	0.44%	Reduced -230	-230 -2.5%
58	BANK AMERICA CORP COM BAC	BAC	20,609	$1.2m0.44%	0.44%	Reduced -36	-36 -0.2%
59	INVESTORS TITLE CO NC COM ITIC	ITIC	4,265	$1.2m0.44%	0.44%	Added +200	+200 4.9%
60	ALPHABET INC CAP STK CL C GOOG	GOOG	3,281	$1.2m0.44%	0.44%	Reduced -31	-31 -0.9%
61	HERSHEY CO COM HSY	HSY	6,271	$1.1m0.41%	0.41%	Added +211	+211 3.5%
62	VERIZON COMMUNICATIONS INC COM VZ	VZ	25,498	$1.1m0.41%	0.41%	Added +247	+247 1.0%
63	HOME DEPOT INC COM HD	HD	3,054	$1.1m0.41%	0.41%	Reduced -18	-18 -0.6%
64	BANK NEW YORK MELLON CORP COM BNY	BNY	7,164	$1.0m0.39%	0.39%	Reduced -779	-779 -9.8%
65	PIMCO ETF TR ACTIVE BD ETF BOND	BOND	11,214	$1.0m0.39%	0.39%	Added +272	+272 2.5%
66	MCDONALDS CORP COM MCD	MCD	3,706	$1.0m0.38%	0.38%	Added +172	+172 4.9%
67	ENBRIDGE INC COM ENB	ENB	18,224	$987.9k0.37%	0.37%	Reduced -102	-102 -0.6%
68	CANADIAN PACIFIC KANSAS CITY COM CP	CP	11,393	$987.2k0.37%	0.37%	Reduced -1.9k	-1,857 -14.0%
69	VANGUARD INDEX FDS VALUE ETF VTV	VTV	4,512	$983.3k0.37%	0.37%	Added +33	+33 0.7%
70	SELECT SECTOR SPDR TR ENERGY XLE	XLE	17,679	$938.9k0.35%	0.35%	Reduced -202	-202 -1.1%
71	GILEAD SCIENCES INC COM GILD	GILD	7,357	$929.5k0.35%	0.35%	Reduced -233	-233 -3.1%
72	WALMART INC COM WMT	WMT	8,056	$912.4k0.34%	0.34%	Reduced -160	-160 -1.9%
73	CAL MAINE FOODS INC COM NEW CALM	CALM	11,125	$896.2k0.34%	0.34%	New
74	WASTE MGMT INC DEL COM WM	WM	3,979	$886.8k0.33%	0.33%	Added +15	+15 0.4%
75	CAPITAL SOUTHWEST CORP COM CSWC	CSWC	36,618	$870.4k0.33%	0.33%	Reduced -400	-400 -1.1%
76	INTUIT COM INTU	INTU	3,220	$840.4k0.32%	0.32%	Added +26	+26 0.8%
77	WELLTOWER INC COM WELL	WELL	3,692	$838.0k0.32%	0.32%	Reduced -322	-322 -8.0%
78	OLD NATL BANCORP IND COM ONB	ONB	32,012	$829.1k0.31%	0.31%	Unchanged
79	UNITED PARCEL SERVICE INC CL B UPS	UPS	7,649	$822.3k0.31%	0.31%	Added +522	+522 7.3%
80	QUALCOMM INC COM QCOM	QCOM	4,336	$801.3k0.30%	0.30%	Added +46	+46 1.1%
81	COCA COLA CO COM KO	KO	9,829	$798.8k0.30%	0.30%	Added +1.2k	+1,168 13.5%
82	AT&T INC COM T	T	37,863	$783.8k0.30%	0.30%	Reduced -449	-449 -1.2%
83	LOCKHEED MARTIN CORP COM LMT	LMT	1,538	$783.5k0.30%	0.30%	Reduced -37	-37 -2.4%
84	BOEING CO COM BA	BA	3,603	$779.9k0.29%	0.29%	Reduced -211	-211 -5.5%
85	BLACK STONE MINERALS L P COM UNIT BSM	BSM	55,490	$775.2k0.29%	0.29%	Reduced -300	-300 -0.5%
86	DUKE ENERGY CORP NEW COM NEW DUK	DUK	6,068	$768.1k0.29%	0.29%	Reduced -63	-63 -1.0%
87	LAM RESEARCH CORP COM NEW LRCX	LRCX	1,738	$753.1k0.28%	0.28%	Reduced -106	-106 -5.8%
88	DIGITAL RLTY TR INC COM DLR	DLR	4,176	$749.9k0.28%	0.28%	Reduced -126	-126 -2.9%
89	BERKSHIRE HATHAWAY INC DEL CL A BRK.A	BRK.A	1	$748.9k0.28%	0.28%	Unchanged
90	MARVELL TECHNOLOGY INC COM MRVL	MRVL	2,488	$741.1k0.28%	0.28%	Unchanged
91	BARINGS PARTN INVS SH BEN INT MPV	MPV	43,755	$736.8k0.28%	0.28%	Unchanged
92	ONEOK INC NEW COM OKE	OKE	8,464	$735.9k0.28%	0.28%	Reduced -35	-35 -0.4%
93	WILLIAMS COS INC COM WMB	WMB	9,897	$735.7k0.28%	0.28%	Reduced -399	-399 -3.9%
94	CALUMET INC COM CLMT	CLMT	20,000	$720.4k0.27%	0.27%	Added +517	+517 2.6%
95	INGLES MKTS INC CL A IMKTA	IMKTA	8,120	$719.3k0.27%	0.27%	Unchanged
96	NI HLDGS INC COM NODK	NODK	44,469	$698.6k0.26%	0.26%	Unchanged
97	PROCTER AND GAMBLE CO COM PG	PG	4,572	$670.4k0.25%	0.25%	Reduced -189	-189 -4.0%
98	FS BANCORP INC COM FSBW	FSBW	15,142	$657.2k0.25%	0.25%	Unchanged
99	US BANCORP DEL COM NEW USB	USB	10,870	$656.5k0.25%	0.25%	Reduced -344	-344 -3.1%
100	PHILIP MORRIS INTL INC COM PM	PM	3,593	$650.0k0.25%	0.25%	Unchanged

Sold out since Q1 2026

Security	Ticker	Shares held before	Value then
EXXON MOBIL CORP XOM	XOM	13,877	$2.4m13.9k shares
HONEYWELL INTL INC		2,526	$1.1m2.5k shares
DONEGAL GROUP INC DGICB	DGICB	14,716	$260.3k14.7k shares
CARNIVAL CORP		7,554	$195.5k7.6k shares
FIRST FNDTN INC FFWM	FFWM	18,309	$108.0k18.3k shares
UNITED SEC BANCSHARES CALIF UBFO	UBFO	10,065	$105.8k10.1k shares
HELIX ENERGY SOLUTIONS GRP I HOS	HOS	10,000	$98.9k10.0k shares
NOBLE CORP PLC NE	NE	2,000	$98.1k2.0k shares
AUTOMATIC DATA PROCESSING IN ADP	ADP	475	$96.5k475 shares
ALPHA PRO TECH LTD APT	APT	16,236	$72.1k16.2k shares
AIR LEASE CORP AL	AL	615	$39.9k615 shares
DUPONT DE NEMOURS INC DWDP	DWDP	286	$39.3k286 shares
RESIDEO TECHNOLOGIES INC REZI	REZI	833	$28.1k833 shares
WHITESTONE REIT		1,500	$24.2k1.5k shares
ARTISAN PARTNERS ASSET MGMT APAM	APAM	226	$8.2k226 shares
BITWISE 10 CRYPTO INDEX ETF BITW	BITW	183	$8.2k183 shares
ISHARES TR IUSG	IUSG	38	$5.9k38 shares
AMICUS THERAPEUTICS INC FOLD	FOLD	400	$5.8k400 shares
VANGUARD INDEX FDS VOE	VOE	31	$5.7k31 shares
PARAMOUNT SKYDANCE CORP SKYD	SKYD	518	$4.7k518 shares
PRELUDE THERAPEUTICS INC PRLD	PRLD	1,000	$3.4k1.0k shares
KKR & CO INC KKR	KKR	25	$2.3k25 shares
ZIM INTEGRATED SHIPPING SERV ZIM	ZIM	50	$1.3k50 shares
MEDLINE INC MDLN	MDLN	25	$1.1k25 shares
ISHARES TR MTUM	MTUM	4	$9604 shares

Stakes above 5%

Companies where this manager has reported owning more than 5% of a class of shares, on Schedule 13D (may seek influence) or 13G (passive): its latest filing for each, from 19 Dec 2024 on.

Company	Ticker	Stake	Change	Schedule	Last filed
NATURAL ALTERNATIVES INTL IN NAII · 13G · filed 2025-02-11	NAII	7.8%≈ $1.1m		13G	2025-02-11
ELECTRO-SENSORS INC 13G · filed 2025-02-11		7.3%≈ $1.9m		13G	2025-02-11