Solstein Capital provides portfolio management for individuals and small businesses, portfolio management for pooled vehicles, and portfolio management for institutions. The firm advises 2 private funds.
Solstein Capital reports 30 clients. They include 14 high-net-worth individuals, 8 individual clients and 5 state or municipal government entities. Of its assets, 100.0% ($802M across 30 accounts) are managed with discretion.
| Client type | Clients | Assets |
|---|---|---|
| Individuals (other than HNW) | 27% | <1% |
| High-net-worth individuals | 47% | 48% |
| Pooled investment vehicles | 7% | 6% |
| State or municipal government entities | 17% | 46% |
| Other investment advisers | 3% | <1% |
Client breakdown and activity details
| Client type | Clients | Regulatory AUM | AUM share | Avg. per client |
|---|---|---|---|---|
| Individuals (other than HNW) | 8 | $2.88M | 0.4% | $360K |
| High-net-worth individuals | 14 | $382M | 47.6% | $27.3M |
| Pooled investment vehicles | 2 | $45.6M | 5.7% | $22.8M |
| State or municipal government entities | 5 | $367M | 45.8% | $73.5M |
| Other investment advisers | 1 | $4.31M | 0.5% | $4.31M |
| Total | 30 | $802M | 100% | $26.7M |
- Clients
- 8
- Regulatory AUM
- $2.88M
- AUM share
- 0.4%
- Avg. per client
- $360K
- Clients
- 14
- Regulatory AUM
- $382M
- AUM share
- 47.6%
- Avg. per client
- $27.3M
- Clients
- 2
- Regulatory AUM
- $45.6M
- AUM share
- 5.7%
- Avg. per client
- $22.8M
- Clients
- 5
- Regulatory AUM
- $367M
- AUM share
- 45.8%
- Avg. per client
- $73.5M
- Clients
- 1
- Regulatory AUM
- $4.31M
- AUM share
- 0.5%
- Avg. per client
- $4.31M
Total
- Clients
- 30
- Regulatory AUM
- $802M
- AUM share
- 100%
- Avg. per client
- $26.7M
- Clients outside the U.S.
- 0%
- Clients advised without assets under management last fiscal year
- 0
- Private funds advised
- 2
- Financial planning clients last fiscal year
- 0
Solstein Capital charges up to 1.00% a year for its Separately Managed Accounts. The fee is billed in arrears and is negotiable.
Fee details and sources
Nadine Terman owns 50% to 75% of Solstein Capital. It has 6 employees, 3 of them in advisory roles.
Leadership
- Sandra J SouthworthDirector of Operations & CCO
Nadine TermanCEO, CIO, Managing Member- J.C. TorresManaging Member
Investment adviser representatives
2 representatives listed in the SEC register as of 9 October 2026.
Staff
- 6 employees
- 3 in advisory functions
- 2 state-registered reps
- Owns 50% to 75% of Solstein Capital, LLC
Nadine Terman
Control person · since January 2011
- Owns 50% to 75% of Solstein Capital, LLC
J.C. Torres
Control person · since January 2011
Solstein Capital’s regulatory assets grew 3.4× from $234M (July 2021) to $802M (March 2026); clients rose from 1 to 30 and employees from 4 to 6.
Figures from each annual filing
| Filed | Regulatory AUM | Clients | Employees | Offices |
|---|---|---|---|---|
| March 2026 | $802M | 30 | 6 | 1 |
| March 2025 | $645M | 22 | 6 | 1 |
| March 2024 | $562M | 22 | 6 | 1 |
| March 2023 | $383M | 28 | 6 | 1 |
| March 2022 | $278M | 20 | 6 | 1 |
| July 2021 | $234M | 1 | 4 | 1 |
Besides its headquarters, Solstein Capital has 0 offices, with 1 listed address in California.
California · 1 listed address
- 1285 El Camino Real, Suite 100, Menlo ParkHQ
Contact and registration details
- Legal name
- Solstein Capital, LLC
- Headquarters
- 1285 El Camino Real, Suite 100, Menlo Park, CA 94025
- Website
- solsteincapital.com
- Phone
- 415-231-3000
- @solstein-capital-llc
- SEC file
- 801-112859
- Structure
- Delaware LLC
- Fiscal year end
- December
Solstein Capital uses Charles Schwab ($214M, 30%), State Street Global Markets ($189M, 27%) and UBS Financial Services ($169M, 24%), among others, as custodians for its separately managed accounts. Solstein Capital has custody of $40M in client assets for 1 client.
- Northern Trust SecuritiesNorthern Trust Securities, Inc. · Chicago, IL · $138M19%
- Charles SchwabCharles Schwab & Co., Inc. · San Francisco, CA · $214M30%
- State Street Global MarketsState Street Global Markets, LLC · Boston, MA · $189M27%
- UBS Financial ServicesUBS Financial Services Inc. · Weehawken, NJ · $169M24%
At year end, Solstein Capital’s separately managed accounts were mostly in stocks (59%) and cash (19%). Its reported 13F holdings for the quarter ended 30 June 2026 total $292M across 434 positions; the largest are State Str SPDR S&P 500 ETF T (7.9%), iShares TR (6.1%) and Apple Inc. (5.5%).
What the accounts hold
- Stocks59%
- Funds17%
- Bonds4%
- Cash19%
Filed values cover 99%. The neutral 1% gap has no reported category.
Reported 13F holdings
- $292M
- Reported 13F value
- 434
- Positions
- 42.6%
- In the 10 largest
- +19.9%
- Value vs. prior quarter
- State Str SPDR S&P 500 ETF T · TR Unit7.9%
- iShares TR · Core S&P Ttl Stk6.1%
- Apple Inc.5.5%
- iShares TR · Core MSCI Intl4.6%
- iShares TR · Core S&P500 ETF4.1%
- Vaneck Merk Gold ETF · Gold Shs3.7%
- Microsoft Corp.2.9%
- Alphabet Inc. · Cap Stk CL A2.7%
- Alphabet Inc. · Cap Stk CL C2.7%
- Amazon Com Inc.2.5%
Together, the ten largest are 42.6% of reported value.
How many clients does Solstein Capital have?
Solstein Capital has 30 clients and manages $802 million for them, as of March 2026. They include 14 high-net-worth individuals, 8 individual clients and 5 state or municipal government entities.
Source: Form ADV Part 1A, Items 5.D and 5.F, filed 24 March 2026
What services does Solstein Capital offer?
Solstein Capital provides portfolio management for individuals and small businesses, portfolio management for pooled vehicles, and portfolio management for institutions.
Source: Form ADV Part 1A, Item 5.G, from the SEC's 2 October 2026 data file
How much does Solstein Capital charge?
Solstein Capital charges up to 1.00% a year for its Separately Managed Accounts. The fee is billed in arrears and is negotiable.
Which custodians does Solstein Capital use?
Solstein Capital’s separately managed account assets are held at Charles Schwab & Co., Inc. (San Francisco, CA), with $214M, State Street Global Markets, LLC (Boston, MA), with $189M, UBS Financial Services Inc. (Weehawken, NJ), with $169M and Northern Trust Securities, Inc. (Chicago, IL), with $138M. Only custodians holding at least a tenth of those assets are named.
Source: Form ADV Part 1A, Schedule D, Section 5.K.(3), filed 24 March 2026
How many financial advisors does Solstein Capital have?
Solstein Capital has 2 investment adviser representatives registered with state securities authorities, out of 6 employees, and 3 perform investment advisory functions. None are registered representatives of a broker-dealer or licensed insurance agents.
Source: Form ADV Part 1A, Items 5.A and 5.B, from the SEC's 2 October 2026 data file
What does Solstein Capital invest in?
At the end of its last fiscal year, Solstein Capital’s separately managed accounts held 59% exchange-traded equities, 19% cash and equivalents, 17% registered funds (mutual funds, ETFs, BDCs) and 4% U.S. government and agency bonds. It advises 2 private funds.
Source: Form ADV Part 1A, Items 5.K.(1) and 7.B, from the SEC's 2 October 2026 data file
Who owns Solstein Capital?
Solstein Capital’s direct owners are Nadine Terman (50% to 75%) and J.C. Torres (50% to 75%).
Source: Form ADV Part 1A, Schedules A and B, filed 24 March 2026
How does Solstein Capital get paid?
Solstein Capital is paid through a percentage of assets under management and performance-based fees. Its Form ADV lists no commissions among how it is paid.
Source: Form ADV Part 1A, Item 5.E, from the SEC's 2 October 2026 data file
How do I contact Solstein Capital?
Solstein Capital’s main office is at 1285 El Camino Real, Suite 100, Menlo Park, CA 94025. Its phone number is 415-231-3000. Its website is solsteincapital.com.