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VOL. XII · NO. 117Established MMXIV · George Town, Grand CaymanAtlantic Edition · $4.50

The Cayman Journal

Finance · Business · Technology · Caribbean & Global Affairs
13F HOLDINGS REPORT

STEPH & CO

Quarter ended Q2 2025 · Filed July 16, 2025 · Accession 0000941519-25-000004

Total Value
$308.3M
Positions
296
Other Managers
0
Confidential Omitted
No
View on SEC.gov

Holdings (296)

#IssuerTicker / CUSIPSharesValue% of Filing
1JPMorgan Active Value ETF46641Q167732,726$48.0M15.57%
2Vanguard S&P 500 Index ETF92290836376,263$43.3M14.05%
3JPMorgan Active Growth ETF46654Q609480,283$41.3M13.41%
4iShares Russell Midcap Index ETF464287499128,882$11.9M3.84%
5PIMCO Total Return Active ETF72201R775116,992$10.8M3.50%
6Fidelity Total Bond ETF316188309234,892$10.7M3.49%
7Vanguard Total Stock Market ETF92290876932,890$10.0M3.24%
8Global Upstream Natural Resources ETFFLEX216,296$8.7M2.81%
9Vanguard Small-Cap ETF92290875135,491$8.4M2.73%
10Vanguard MEGA Cap ETF92191087335,226$7.9M2.57%
11Vanguard Mid Cap ETF92290862925,369$7.1M2.30%
12iShares S&P 500 Index ETF46428720010,047$6.2M2.02%
13Pimco Intermediate Municipal Bond ETF72201R866100,831$5.2M1.68%
14iShares Russell 2000 Index ETF46428765520,393$4.4M1.43%
15SPDR S&P 500 ETFSPY6,704$4.1M1.34%
16Vanguard Tax-Exempt Bond Index ETF92290774680,889$4.0M1.29%
17Vanguard FTSE Developed Markets Index ETF92194385866,439$3.8M1.23%
18FlexShares Global Broad Infrastructure ETFFLEX58,713$3.6M1.18%
19Vanguard Mid-Cap Growth ETF92290853812,652$3.6M1.17%
20SPDR S&P Mid Cap 400 Index ETFMDY5,547$3.1M1.02%
21Vanguard Russell 1000 Growth ETF92206C68023,789$2.6M0.84%
22Apple Computer Inc ComAAPL11,243$2.3M0.75%
23iShares S & P Smallcap 600 Index ETF46428780418,294$2.0M0.65%
24SPDR S&P Global Natural Resources ETF78463X54136,576$2.0M0.64%
25iShares Russell 1000 Value Index ETF46428759810,116$2.0M0.64%
26iShares MSCI EAFE Index ETF46428746517,492$1.6M0.51%
27J P Morgan Chase & Co ComVYLD4,984$1.4M0.47%
28iShares Russell 1000 Growth ETF4642876142,861$1.2M0.39%
29Nicolet Bankshares Inc ComNIC9,540$1.2M0.38%
30Procter & Gamble Co Com7427181096,943$1.1M0.36%
31Philip Morris International Inc7181721095,967$1.1M0.35%
32Duke Energy Corp Com NewDUKB8,013$945,5340.31%
33Cisco Sys IncCSCO13,347$926,0150.30%
34Johnson & Johnson ComJNJ5,893$900,1560.29%
35Citigroup Inc Com NewC-PR10,027$853,4980.28%
36Wells Fargo & Co New Com94974610110,248$821,0700.27%
37iShares MSCI Emerging Markets ex China ETF46434G76412,657$799,1630.26%
38Quest Diagnostics Inc ComDGX4,378$786,4200.26%
39US Bancorp ComUSB-PS16,958$767,3500.25%
40Regal Rexnord CorporationRRX5,181$751,0380.24%
41WEC Energy Group Inc ComWEC7,023$731,7970.24%
42Gilead Sciences IncGILD6,529$723,8700.23%
43Chevrontexaco Corp ComCVX5,015$718,0980.23%
44Vanguard Small-Cap Growth ETF9229085952,563$709,7970.23%
45Verizon Communications ComVZ16,173$699,8060.23%
46Union Pacific Corp ComUNP3,014$693,4610.22%
47Exelon Corp ComEXC15,647$679,3930.22%
48VICI Properties Inc92565210919,845$646,9470.21%
49PNC Financial Services Group Com6934751053,410$635,6920.21%
50Evergy Inc ComEVRG8,628$594,7280.19%
51Dollar General Corp2566771055,106$584,0240.19%
52American Intl Group Inc Com0268747846,687$572,3400.19%
53Exxon Mobil Corp ComXOM5,305$571,8790.19%
54Amdocs Ltd OrdDOX6,189$564,6840.18%
55FlexShares High Yield Value-Scored Bond Index ETFFLEX13,408$550,1300.18%
56EOG Resources Inc ComEOG4,453$532,6230.17%
57Kimco Realty Corporation Ordinary Shares49446R10924,619$517,4910.17%
58Unitedhealth Group ComUNH1,646$513,5030.17%
59Axis Capital Holdings LtdG0692U1094,849$503,4230.16%
60Sonoco Products Co83549510211,443$498,4570.16%
61Microsoft Corp ComMSFT1,000$497,4100.16%
62Bristol-Myers Squibb Co ComCELG-RI10,628$491,9700.16%
63iShares Russell Mid-Cap Growth ETF4642874813,232$448,2140.15%
64Pentair plcPNR4,332$444,7230.14%
65Vanguard High Dividend Yield Indx ETF9219464063,300$439,9230.14%
66S&P 500 Catholic Values ETF37954Y8895,816$438,8170.14%
67Casey's General Stores Inc147528103801$408,7260.13%
68API Group CorpAPG7,848$400,6400.13%
69RTX CorporationRTX2,665$389,1430.13%
70Berkshire Hathaway Inc Class BBRK-A789$383,2730.12%
71Vanguard Core-Plus Bond ETF9220207554,831$375,8500.12%
72Suncor Energy IncSU9,779$366,2240.12%
73nVent Electric plcNVT4,937$361,6350.12%
74Kenvue IncKVUE16,684$349,1960.11%
75Invesco RAFI US 1000 Portfolio ETFIVZ8,190$346,1910.11%
76iShares Russell 2000 Value ETF4642876302,181$344,0750.11%
77MFC iShares S&P 500 Growth Index ETF4642873093,009$331,2910.11%
78EQT CorporationEQT5,660$330,0910.11%
79Clean Harbors IncCLH1,422$328,7380.11%
80Performance Food Group Co ComPFGC3,639$318,3030.10%
81NVIDIA CorporationNVDA1,965$310,4500.10%
82Walmart Inc ComWMT3,000$293,3400.10%
83Teledyne Technologies IncTDY567$290,4800.09%
84PPL Corp ComPPLC8,472$287,1160.09%
85Chewy IncCHWY6,718$286,3210.09%
86Eaton Corp PlcETN798$284,8780.09%
87Intel Corp ComINTC11,889$266,3140.09%
88Crown Holdings IncCCK2,514$258,8920.08%
89AbbVie IncABBV1,350$250,5870.08%
90Hartford Financial Insurance Group Inc ComHIG-PG1,967$249,5530.08%
91Abbott Laboratories ComABLZF1,768$240,4660.08%
92Applovin CorporationAPP674$235,9540.08%
93BHP Group LimitedBHPLF4,684$225,2540.07%
94Vistra CorpVST1,159$224,6260.07%
95Norfolk Southern Corp655844108869$222,4380.07%
96Brown & Brown IncBRO1,818$201,5620.07%
97Carrier Global CorporationCARR2,739$200,4670.07%
98Blue Owl CapitalOWL10,410$199,9760.06%
99Ross Stores IncROST1,554$198,2590.06%
100Arch Capital Group LtdG0450A1052,171$197,6700.06%
101Houlihan Lokey IncHLI1,079$194,1660.06%
102Steris PLCSTE784$188,3320.06%
103T. Rowe Price Blue Chip Growth ETF87283Q1074,062$184,2120.06%
104Microchip Technology IncMCHPP2,474$174,0950.06%
105Raymond James Financial Com7547301091,114$170,8540.06%
106Magna International Inc5592224014,338$167,4900.05%
107Expedia Group IncEXPE992$167,3310.05%
108Willscot Holdings CorpWSC6,096$167,0300.05%
109Colgate Palmolive Co ComCL1,832$166,5290.05%
110Democratic Large Cap Core ETF00774Q3464,188$163,1640.05%
111CAE IncCAE5,355$156,7410.05%
112DTE Energy Co ComDTK1,165$154,3160.05%
113iShares S&P Midcap 400 Index Fd ETF4642875072,463$152,7550.05%
114Constellation Energy GroupCEG462$149,1150.05%
115Dynatrace IncDT2,636$145,5340.05%
116W R Berkley CorpWRB-PH1,968$144,5890.05%
117Heico Corp. Ordinary Shares - Class AHEI-A544$140,7600.05%
118Alphabet Inc Class CGOOG787$139,6060.05%
119Live Nation Entmt IncLYV887$134,1850.04%
120Carlisle Companies Incorporated142339100358$133,6770.04%
121AramarkARMK3,046$127,5360.04%
122Otis Worldwide CorporationOTIS1,261$124,8640.04%
123CDW Corporation DECDW692$123,5840.04%
124Tenet Healthcare CorpTHC689$121,2640.04%
125Gartner IncIT299$120,8620.04%
126Qorvo IncQRVO1,393$118,2800.04%
127Xcel Energy Inc ComXELLL1,713$116,6550.04%
128Coinbase Global IncCOIN331$116,0120.04%
129CoStar Group IncCSGP1,430$114,9720.04%
130Service Corp Intl8175651041,387$112,9020.04%
131MGE Energy IncMGEE1,272$112,4960.04%
132Argenx SEARGX203$111,8980.04%
133JPMorgan US Tech Leaders ETF46654Q7321,300$109,7980.04%
134iShares US Consumer Staples ETF4642878121,530$107,8340.03%
135Baker Hughes CompanyBKR2,796$107,1990.03%
136Tesla IncTSLA330$104,8280.03%
137Ferguson Enterprises IncFERG470$102,3430.03%
138CACI International Inc127190304214$102,0140.03%
139Resideo Technologies IncREZI4,514$99,5790.03%
140Illinois Tool Works Inc Com452308109400$98,9000.03%
141Northern Trust Corp ComNTRSO750$95,0930.03%
142Insulet CorpPODD296$92,9970.03%
143Corpay IncCPAY278$92,2460.03%
144Alphabet Inc Class AGOOG520$91,6400.03%
145Aptargroup IncATR581$90,8860.03%
146Tyler Technologies IncTYL153$90,7050.03%
147Vanguard Total Intl Stock Idx ETF9219097681,299$89,7480.03%
148iShares Russell Midcap Value ETF464287473679$89,7230.03%
149Draftkings Inc NewDKNG2,039$87,4530.03%
150Oracle Corp ComORCL-PD395$86,3590.03%
151Vertiv HoldingsVRT665$85,3930.03%
152Nextera Energy Inc ComNEE-PW1,225$85,0400.03%
153BP Plc ADRBPPFF2,792$83,5650.03%
154Lennox International Inc526107107140$80,2540.03%
155Wintrust Financial Corporation97650W108645$79,9670.03%
156Amazon.com IncAMZN364$79,8580.03%
157Primerica IncPRI278$76,0800.02%
158Onemain Holdings IncOMF1,317$75,0690.02%
159Mondelez International Inc6092071051,109$74,7910.02%
160Arrow Electronics Inc042735100582$74,1640.02%
161Heico Corp Ordinary SharesHEI-A225$73,8000.02%
162Waters Corp Com941848103209$72,9490.02%
163Pinterest IncPINS2,019$72,4010.02%
164Fifth Third Bancorp ComFITBM1,729$71,1140.02%
165Altria Group Inc ComMO1,200$70,3560.02%
166Gates Industrial Corporation PlcG391081083,049$70,2180.02%
167Nnn Reit Inc Ordinary SharesNNN1,527$65,9360.02%
168ATS CorporationATS2,000$63,7600.02%
169SPDR Series Trust Portfolio S&P 500 Growth ETF78464A409663$63,1970.02%
170IBM Corp ComINTR207$61,0190.02%
1713M Co ComMMM400$60,8960.02%
172Alnylam Pharmaceuticals IncALNY185$60,3270.02%
173Meta Platforms IncMETA77$56,8330.02%
174Vulcan Materials Company929160109212$55,2940.02%
175Godaddy Inc Class AGDDY307$55,2780.02%
176Zebra Technologies Corp Cl AZBRA176$54,2710.02%
177Vanguard Russell 1000 Value Index ETF92206C714632$53,8530.02%
178Core & Main IncCNM878$52,9870.02%
179Simpson Manufacturing Co Inc829073105341$52,9610.02%
180Trimbel IncTRMB692$52,5780.02%
181Kimberly-Clark ComKMB400$51,5680.02%
182iShares Core US Aggregate Bond ETF464287226516$51,1870.02%
183Jack Henry & Associates Inc426281101283$50,9880.02%
184Vanguard Core Bond ETF922020748657$50,9700.02%
185iShares Tr S&P Midcap 400 Growth Index ETF464287606560$50,9490.02%
186Bentley Systems IncorporatedBSY940$50,7320.02%
187Global X Artificial Intelligence & Technology ETF37954Y6321,150$50,2440.02%
188Pool CorpPOOL169$49,2600.02%
189iShares US Tech Breakthrough Multisector ETF46436E502850$48,7560.02%
190Conocophillips ComCOP535$48,0110.02%
191White Mountains Insurance Group LtdG9618E10726$46,6890.02%
192Fortune Brands Innovations IncFBIN900$46,3320.02%
193SPDR Portfolio S&P 500 Value ETF78464A508885$46,3210.02%
194Donaldson Inc ComDCI662$45,9100.01%
195Mastercard Inc Cl AMA81$45,5170.01%
196Gentex Corp ComGNTX2,057$45,2330.01%
197Valvoline IncVVV1,185$44,8760.01%
198Schein Henry IncHSIC608$44,4140.01%
199Exelixis IncEXEL1,002$44,1630.01%
200Teradyne IncTER475$42,7120.01%
201Idex Corp45167R104240$42,1370.01%
202Mks IncMKSI424$42,1290.01%
203Costco Wholesale Corp22160K10542$41,5770.01%
204Allison Transmission Holdings IncALSN436$41,4160.01%
205Arthur J. Gallagher & Co363576109124$39,6950.01%
206Masco Corp ComMAS612$39,3880.01%
207Popular IncBPOPM357$39,3450.01%
208Broadridge Financial Solutions Inc11133T103161$39,1280.01%
209Dimentional US Targeted Value ETF25434V609711$38,3660.01%
210Prosperity Bancshares Inc ComPB543$38,1400.01%
211Pfizer Inc ComPFE1,529$37,0630.01%
212Genpact LimitedG841$37,0120.01%
213The Timken CompanyTKR504$36,5650.01%
214SPDR Technology ETF81369Y803141$35,7050.01%
215MSCI IncMSCI60$34,6040.01%
216Phillips 66 ComPSX276$32,9270.01%
217AT&T Inc ComT-PC1,118$32,3550.01%
218Light & Wonder IncLAWIL312$30,0330.01%
219Associated Banc Corp ComASBA1,169$28,5120.01%
220John Hancock Multifactor Mid Cap ETF47804J206466$28,4870.01%
221Taiwan Semiconductor Manufacturing Co Ltd874039100124$28,0850.01%
222Knight-Swift Transportation Holdings Inc499049104612$27,0690.01%
223Advanced Micro Devices IncAMD187$26,5350.01%
224Xylem IncXYL200$25,8720.01%
225Blackstone Group IncBX164$24,5310.01%
226SPDR Health Care ETF81369Y209170$22,9140.01%
227Salesforce IncCRM84$22,9060.01%
228SPDR Consumer Discretionary ETF81369Y407104$22,6020.01%
229PayPal Holdings IncPYPL299$22,2220.01%
230Cencora Inc CorpCOR73$21,8890.01%
231Broadcom IncAVGO79$21,7760.01%
232Comcast Corp New Cl ACCZ593$21,1640.01%
233Servicenow IncNOW20$20,5620.01%
234SPDR Industrial ETF81369Y704139$20,5050.01%
235Schwab Charles Corp ComSCHW-PJ221$20,1640.01%
236Honeywell International Com43851610685$19,7950.01%
237PGIM Active High Yield Bond ETF69344A206551$19,5550.01%
238TJX Companies Inc872540109157$19,3880.01%
239Chipotle Mexican Grill IncCMG336$18,8660.01%
240DFA Dimensional US Marketwide Value ETF25434V724446$18,8570.01%
241American Tower REIT Com03027X10085$18,7870.01%
242CVS Health Corp ComCVS271$18,6940.01%
243Home Depot Inc ComHD49$17,9650.01%
244DuPont de Nemours IncDD240$16,4620.01%
245Adobe Inc ComADBE42$16,2490.01%
246Coca Cola Co ComKO227$16,0600.01%
247Icon Public Limited CompanyICLR110$16,0000.01%
248Analog Devices IncADI66$15,7090.01%
249ITT Inc ComITT100$15,6830.01%
250Marsh & McLennan Cos Inc Com57174810271$15,5230.01%
251GSK PLCGLAXF404$15,5140.01%
252Prudential Finl Inc ComPUKPF144$15,4710.01%
253Eastman Chemical Co ComEMN203$15,1560.00%
254Palo Alto Networks IncPANW74$15,1430.00%
255Walt Disney Co Com254687106121$15,0050.00%
256iShares Tr S&P 400 Midcap Value Index ETF464287705120$14,8300.00%
257Intercontinental Exchange Inc45866F10480$14,6780.00%
258Accenture PLC Ireland ADRACN48$14,3470.00%
259KKR & Co IncKKRT100$13,3030.00%
260General Dynamics CorpGD45$13,1250.00%
261The Southern Company ComSOMN140$12,8560.00%
262Boeing Co ComBA-PA61$12,7810.00%
263Schlumberger LtdSLB377$12,7430.00%
264Caterpillar Inc ComCAT32$12,4230.00%
265SuRo Capital CorpSSSSL1,500$12,3150.00%
266Netflix IncNFLX9$12,0520.00%
267Zimmer Biomet Holdings ComZBH127$11,5840.00%
268Bath & Body Wks IncBBWI384$11,5050.00%
269Becton Dickinson & CoBDX63$10,8520.00%
270SBA Communications CorpSBAC45$10,5680.00%
271Kraft Heinz Co ComKHC405$10,4570.00%
272iShares Russell 1000 ETF46428762230$10,1870.00%
273Nike Inc Cl BNKE134$9,5190.00%
274Biogen Idec IncBIIB75$9,4190.00%
275Corteva IncCTVA122$9,0930.00%
276Tapestry IncTPR92$8,0790.00%
277Consolidated Edison Inc ComED80$8,0280.00%
278Freeport-McMoRan IncFCX185$8,0200.00%
279Bank of America Corp Com060505104169$7,9970.00%
280Lilly Eli & Co ComLLY10$7,7950.00%
281Fidelity National Information Services31620M10691$7,4080.00%
282Edison Intl Com281020107140$7,2240.00%
283Vanguard Small-Cap Value Index Fund ETF92290861137$7,2150.00%
284Intuit Inc ComINTU9$7,0890.00%
285McDonald's CorpMCD24$7,0120.00%
286Gold Resource CorpGORO10,917$6,6590.00%
287Starbucks Corp ComSBUX67$6,1390.00%
288Manpower Group IncMAN145$5,8580.00%
289General Motors Co Com37045V100100$4,9210.00%
290Spirit AeroSystems Holdings Inc848574109100$3,8150.00%
291DOW IncDOW122$3,2310.00%
292Carnival Corp ComCUKPF100$2,8120.00%
293Pepsico Inc ComPEP21$2,7730.00%
294Bank of Montreal06367110125$2,7660.00%
295Viatris IncVTRS12$1070.00%
296Contra Abiomed Inc CVR Line003CVR01631$10.00%