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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

Smith, Salley & Associates

Quarter ended Q3 2025 · Filed October 20, 2025 · Accession 0001062993-25-016209

Total Value
$1.94B
Positions
264
Other Managers
0
Confidential Omitted
No
View on SEC.gov

Holdings (264)

#IssuerTicker / CUSIPSharesValue% of Filing
1NVIDIA CORPORATIONNVDA808,419$150.8M7.76%
2MICROSOFT CORPMSFT234,981$121.7M6.26%
3APPLE INCAAPL410,211$104.5M5.38%
4ALPHABET INCGOOG273,963$66.7M3.43%
5AMAZON COM INCAMZN274,797$60.3M3.10%
6META PLATFORMS INCMETA79,603$58.5M3.01%
7JPMORGAN CHASE & CO.VYLD169,084$53.3M2.74%
8TJX COS INC NEW872540109280,324$40.5M2.09%
9VISA INCV118,149$40.3M2.08%
10RTX CORPORATIONRTX227,175$38.0M1.96%
11ABBVIE INCABBV158,917$36.8M1.89%
12LOWES COS INC548661107133,055$33.4M1.72%
13BROADCOM INCAVGO96,666$31.9M1.64%
14BROOKFIELD CORP11271J107439,430$30.1M1.55%
15MASTERCARD INCORPORATEDMA51,227$29.1M1.50%
16ASML HOLDING N VASMLF29,943$29.0M1.49%
17THERMO FISHER SCIENTIFIC INCTMO58,846$28.5M1.47%
18ARISTA NETWORKS INCANET192,794$28.1M1.45%
19ANALOG DEVICES INCADI109,416$26.9M1.38%
20BERKSHIRE HATHAWAY INC DELBRK-A52,797$26.5M1.37%
21NEXTERA ENERGY INCNEE-PW350,912$26.5M1.36%
22LINDE PLCLIN53,393$25.4M1.31%
23ABBOTT LABSABLZF187,603$25.1M1.29%
24BERKSHIRE HATHAWAY INC DELBRK-A49,588$24.9M1.28%
25PROCTER AND GAMBLE CO742718109161,816$24.9M1.28%
26AMETEK INCAME131,257$24.7M1.27%
27MARVELL TECHNOLOGY INCMRVL286,124$24.1M1.24%
28CHEVRON CORP NEWCVX125,256$19.5M1.00%
29NXP SEMICONDUCTORS N VNXPI83,144$18.9M0.97%
30S&P GLOBAL INCSPGI38,886$18.9M0.97%
31UNION PAC CORPUNP79,398$18.8M0.97%
32ALPHABET INCGOOG75,334$18.3M0.94%
33CURTISS WRIGHT CORPCW32,990$17.9M0.92%
34PEPSICO INCPEP127,207$17.9M0.92%
35ROPER TECHNOLOGIES INCROP35,471$17.7M0.91%
36MARKEL GROUP INCMKL9,225$17.6M0.91%
37CASEYS GEN STORES INC14752810330,652$17.3M0.89%
38PNC FINL SVCS GROUP INC69347510577,578$15.6M0.80%
39MEDTRONIC PLCMDT161,737$15.4M0.79%
40ELI LILLY & COLLY19,455$14.8M0.76%
41ISHARES TR464288588151,508$14.4M0.74%
42ACCENTURE PLC IRELANDACN57,542$14.2M0.73%
43NORTHROP GRUMMAN CORPNOC21,452$13.1M0.67%
44ELEVANCE HEALTH INC FORMERLYELV39,852$12.9M0.66%
45XYLEM INCXYL81,613$12.0M0.62%
46ISHARES TR464288646206,655$11.0M0.56%
47TRANSDIGM GROUP INCTDG8,111$10.7M0.55%
48ASTRAZENECA PLCAZN136,228$10.5M0.54%
49FIDELITY COVINGTON TRUST31609280845,544$10.1M0.52%
50COLGATE PALMOLIVE COCL125,787$10.1M0.52%
51ISHARES TR46432F842111,749$9.8M0.50%
52JOHNSON & JOHNSONJNJ51,430$9.5M0.49%
53EXXON MOBIL CORPXOM75,176$8.5M0.44%
54WALMART INCWMT81,486$8.4M0.43%
55HOME DEPOT INCHD19,919$8.1M0.42%
56BANK AMERICA CORP060505104141,543$7.3M0.38%
57CATERPILLAR INCCAT15,263$7.3M0.37%
58ISHARES TR464288638132,375$7.2M0.37%
59ISHARES TR46428743275,855$6.8M0.35%
60DUKE ENERGY CORP NEWDUKB54,622$6.8M0.35%
61CHEMED CORP NEWCHE14,570$6.5M0.34%
62BROOKFIELD ASSET MANAGMT LTD113004105114,448$6.5M0.34%
63EATON CORP PLCETN16,796$6.3M0.32%
64FIRST BANCORP N C318910106110,644$5.9M0.30%
65COCA COLA COKO78,247$5.2M0.27%
66MOODYS CORPMCO10,800$5.1M0.26%
67CISCO SYS INCCSCO71,461$4.9M0.25%
68VANGUARD WORLD FD92204A7026,428$4.8M0.25%
69VANGUARD INDEX FDS92290876913,977$4.6M0.24%
70ISHARES INC46434G10369,249$4.6M0.23%
71ISHARES TR46434V407104,523$4.5M0.23%
72UNITEDHEALTH GROUP INCUNH12,873$4.4M0.23%
73BLACKROCK INCBLK3,695$4.3M0.22%
74AMERICAN EXPRESS COAXP12,947$4.3M0.22%
75FIDELITY COVINGTON TRUST31609250156,102$4.3M0.22%
76FIDELITY COVINGTON TRUST31609287358,093$4.1M0.21%
77MORGAN STANLEYMS-PQ25,745$4.1M0.21%
78INTERNATIONAL BUSINESS MACHSINTR14,122$4.0M0.21%
79MERCADOLIBRE INCMELI1,696$4.0M0.20%
80AT&T INCT-PC140,333$4.0M0.20%
81WELLS FARGO CO NEW94974610143,894$3.7M0.19%
82TEXAS INSTRS INC88250810419,768$3.6M0.19%
83INVESCO QQQ TRIVZ6,019$3.6M0.19%
84STARBUCKS CORPSBUX41,515$3.5M0.18%
85MCDONALDS CORPMCD11,469$3.5M0.18%
86ENBRIDGE INCENNPF67,796$3.4M0.18%
87VERTIV HOLDINGS COVRT22,555$3.4M0.18%
88QUALCOMM INCQCOM20,427$3.4M0.17%
89SERVICENOW INCNOW3,590$3.3M0.17%
90AMERICAN ELEC PWR CO INC02553710129,131$3.3M0.17%
91MERCK & CO INCMRK38,842$3.3M0.17%
92BOOKING HOLDINGS INCBKNG599$3.2M0.17%
93SALESFORCE INCCRM13,541$3.2M0.17%
94SPDR S&P 500 ETF TRSPY4,736$3.2M0.16%
95TESLA INCTSLA6,986$3.1M0.16%
96HUNTINGTON BANCSHARES INCHBANP178,626$3.1M0.16%
97NETFLIX INCNFLX2,565$3.1M0.16%
98VANGUARD INDEX FDS9229087366,404$3.1M0.16%
99AMGEN INCAMGN10,756$3.0M0.16%
100FIDELITY COVINGTON TRUST31609260043,475$2.9M0.15%
101EMERSON ELEC COEMR22,161$2.9M0.15%
102HONEYWELL INTL INC43851610613,784$2.9M0.15%
103AUTOMATIC DATA PROCESSING INADP9,789$2.9M0.15%
104MICRON TECHNOLOGY INCMU17,082$2.9M0.15%
105INVESCO EXCHANGE TRADED FD TIVZ59,300$2.7M0.14%
106CHUBB LIMITEDCB9,332$2.6M0.14%
107INTUITIVE SURGICAL INCISRG5,843$2.6M0.13%
108PROGRESSIVE CORP74331510310,391$2.6M0.13%
109FIDELITY COVINGTON TRUST31609270930,679$2.5M0.13%
110FIDELITY COVINGTON TRUST31609220424,153$2.5M0.13%
111BLACKSTONE INCBX14,404$2.5M0.13%
112VANGUARD SPECIALIZED FUNDS92190884411,296$2.4M0.13%
113IQVIA HLDGS INCIQV12,784$2.4M0.12%
114LOCKHEED MARTIN CORPLMT4,854$2.4M0.12%
115CONOCOPHILLIPSCOP25,254$2.4M0.12%
116ISHARES TR46428816620,970$2.3M0.12%
117CME GROUP INCCME8,348$2.3M0.12%
118ATLANTIC UN BANKSHARES CORP04911A10762,956$2.2M0.11%
119TRAVELERS COMPANIES INCTRV7,901$2.2M0.11%
120ECOLAB INCECL8,003$2.2M0.11%
121DIGITAL RLTY TR INC25386810312,471$2.2M0.11%
122ISHARES TR4642872003,085$2.1M0.11%
123STRYKER CORPORATIONSYK5,485$2.0M0.10%
124MONDELEZ INTL INC60920710531,873$2.0M0.10%
125GOLDMAN SACHS GROUP INCGSCE2,490$2.0M0.10%
126VANGUARD INDEX FDS9229083633,044$1.9M0.10%
127SYNOPSYS INCSNPS3,733$1.8M0.09%
128VERIZON COMMUNICATIONS INCVZ40,550$1.8M0.09%
129AIR PRODS & CHEMS INCAIIR6,477$1.8M0.09%
130CBRE GROUP INCCBRE10,052$1.6M0.08%
131SELECT SECTOR SPDR TR81369Y60527,655$1.5M0.08%
132INTUITINTU2,172$1.5M0.08%
133FIRST CTZNS BANCSHARES INC D31946M103757$1.4M0.07%
134ISHARES TR46434V28219,174$1.3M0.07%
135ISHARES TR4642876142,782$1.3M0.07%
136SELECT SECTOR SPDR TR81369Y2098,995$1.3M0.06%
137MARRIOTT INTL INC NEW5719032024,759$1.2M0.06%
138VANGUARD WHITEHALL FDS9219464068,650$1.2M0.06%
139ISHARES TR4642876893,209$1.2M0.06%
140VANGUARD TAX-MANAGED FDS92194385820,096$1.2M0.06%
141ISHARES TR4642874818,419$1.2M0.06%
142FIDELITY COVINGTON TRUST31609240248,171$1.2M0.06%
143APPLIED MATLS INC0382221055,739$1.2M0.06%
144FIDELITY COVINGTON TRUST31609230323,473$1.2M0.06%
145SELECT SECTOR SPDR TR81369Y4074,784$1.1M0.06%
146SCHWAB STRATEGIC TR80852410243,968$1.1M0.06%
147ORACLE CORPORCL-PD3,885$1.1M0.06%
148PROLOGIS INC.PLDGP9,497$1.1M0.06%
149PARKER-HANNIFIN CORPPH1,416$1.1M0.06%
150MARSH & MCLENNAN COS INC5717481025,284$1.1M0.05%
151SELECT SECTOR SPDR TR81369Y7046,843$1.1M0.05%
152SELECT SECTOR SPDR TR81369Y8033,549$1.0M0.05%
153YUM BRANDS INCYUM6,013$913,9760.05%
154INVESCO EXCHANGE TRADED FD TIVZ20,070$911,5790.05%
155SCHWAB STRATEGIC TR80852420134,571$910,6000.05%
156ISHARES TR4642876553,758$909,2860.05%
157KLA CORPKLAC787$848,8590.04%
158NIKE INCNKE12,152$847,3320.04%
159TRUIST FINL CORP89832Q10918,289$836,1670.04%
160SOUTHERN COSOMN8,568$811,9820.04%
161NASDAQ INCNDAQ9,062$801,5340.04%
162ISHARES TR4642874998,161$787,9450.04%
163NORTHERN TR CORPNTRSO5,718$769,6430.04%
164INVESCO EXCH TRADED FD TR IIIVZ10,433$766,5930.04%
165FIDELITY COVINGTON TRUST31609286513,497$762,1610.04%
166TYLER TECHNOLOGIES INCTYL1,445$755,9850.04%
167BERKSHIRE HATHAWAY INC DELBRK-A1$754,2000.04%
168CROWDSTRIKE HLDGS INCCRWD1,460$715,9550.04%
169PHILIP MORRIS INTL INC7181721094,407$714,7820.04%
170ISHARES TR4642876221,949$712,3210.04%
171FIDELITY COVINGTON TRUST31609288113,470$706,2330.04%
172CVS HEALTH CORPCVS9,256$697,8100.04%
173US BANCORP DELUSB-PS13,832$668,5010.03%
174NORFOLK SOUTHN CORP6558441082,161$649,3330.03%
175CUMMINS INCCMI1,469$620,4620.03%
176HEARTBEAM INCBEATW367,647$606,6180.03%
177CSX CORPCSX16,103$571,8100.03%
178ISHARES TR46435UAA922,278$542,2470.03%
179ISHARES TR46435GAA022,236$540,3350.03%
180TAIWAN SEMICONDUCTOR MFG LTD8740391001,898$529,9570.03%
181GLOBE LIFE INCGL-PD3,648$521,5550.03%
182VANGUARD WORLD FD92204A5041,980$514,0080.03%
183SCHWAB STRATEGIC TR80852430016,077$513,0050.03%
184SCHWAB STRATEGIC TR80852479718,473$504,3120.03%
185ISHARES TR4642875077,370$480,9660.02%
186ALTRIA GROUP INCMO7,261$479,6850.02%
187SCHWAB STRATEGIC TR80852440916,069$467,7830.02%
188MARATHON PETE CORPMARA2,410$464,5110.02%
189FIDELITY COVINGTON TRUST31609285716,690$464,1570.02%
190VANGUARD ADMIRAL FDS INC9219325051,050$457,2330.02%
191PULTE GROUP INC7458671013,449$455,7160.02%
192AFLAC INCAFL3,975$443,9920.02%
193VANGUARD INTL EQUITY INDEX F9220428588,192$443,8430.02%
194VALERO ENERGY CORPVLO2,605$443,5270.02%
195INVESCO EXCHANGE TRADED FD TIVZ7,567$435,2400.02%
196NOVARTIS AGNVSEF3,392$434,9900.02%
197CAL MAINE FOODS INCCALM4,600$432,8600.02%
198CORNING INCGLW5,085$417,1200.02%
199BRISTOL-MYERS SQUIBB COCELG-RI9,166$413,3870.02%
200VANGUARD INDEX FDS9229086291,407$413,3320.02%
201ALLSTATE CORPALL-PJ1,894$406,5470.02%
202GE AEROSPACE3696043011,326$398,8450.02%
203VANGUARD INTL EQUITY INDEX F9220427755,347$381,6010.02%
204PPG INDS INC6935061073,512$369,0980.02%
205VANGUARD INTL EQUITY INDEX F9220427422,637$363,3790.02%
206SPDR SERIES TRUST78464A8883,240$358,9920.02%
207ISHARES TR4642876481,104$353,3240.02%
208WHEATON PRECIOUS METALS CORPWPM3,150$352,2960.02%
209PALO ALTO NETWORKS INCPANW1,698$345,7470.02%
210AXON ENTERPRISE INCAXON478$343,0320.02%
211DIMENSIONAL ETF TRUST25434V7247,344$328,2190.02%
212ISHARES TR46435U51512,796$326,5540.02%
213LIVE OAK BANCSHARES INCLOB-PA8,954$315,3600.02%
214SCHWAB STRATEGIC TR80852477111,987$315,2580.02%
215ROYAL BK CDA7800871022,139$315,0680.02%
216SCHWAB STRATEGIC TR80852480513,507$314,4360.02%
217ISHARES TR46434VBD112,426$313,0110.02%
218INVESCO EXCH TRD SLF IDX FDIVZ15,121$312,8530.02%
219ISHARES TR4642875981,517$308,8460.02%
220COSTCO WHSL CORP NEW22160K105332$307,6290.02%
221JACOBS SOLUTIONS INCJ2,036$305,1150.02%
222SELECT SECTOR SPDR TR81369Y3083,893$305,0940.02%
223SPDR DOW JONES INDL AVERAGE78467X109655$303,5860.02%
224ISHARES TR46429B6632,476$303,1860.02%
225UNITED PARCEL SERVICE INCUPS3,592$300,0400.02%
226ISHARES TR4642878792,679$296,2710.02%
227GENERAL DYNAMICS CORPGD868$295,9870.02%
228SPDR INDEX SHS FDS78463X8896,880$294,3950.02%
229KIMBERLY-CLARK CORPKMB2,350$292,1990.02%
230VANGUARD WORLD FD92204A108732$289,9820.01%
231ISHARES TR4642871501,966$286,4040.01%
232DEERE & CODE626$286,3000.01%
233ISHARES TR4642874653,007$280,7640.01%
234FIRST TR EXCHANGE-TRADED FD33733E3021,000$279,8400.01%
235LAM RESEARCH CORPLRCX2,036$272,5670.01%
236SHOPIFY INCSHOP1,753$260,5130.01%
237ADVANCED MICRO DEVICES INCAMD1,610$260,4820.01%
238VANGUARD INDEX FDS9229087441,395$260,1590.01%
239UBER TECHNOLOGIES INCUBER2,642$258,8370.01%
240CONSTELLATION ENERGY CORPCEG784$257,9910.01%
241ISHARES TR4642876301,399$247,3570.01%
242VANECK ETF TRUST92189F676754$245,9400.01%
243DANAHER CORPORATION2358511021,215$240,8480.01%
244SPDR SERIES TRUST78464A7631,717$240,4660.01%
245LINCOLN NATL CORP IND5341871095,869$236,6770.01%
246VANGUARD INDEX FDS922908637762$234,5950.01%
247SCHWAB STRATEGIC TR8085247637,510$234,0120.01%
248SPDR SERIES TRUST78468R6632,546$233,5960.01%
249GE VERNOVA INCGEV375$230,4210.01%
250OR ROYALTIES INC.OR5,700$228,4560.01%
251INVESCO EXCHANGE TRADED FD TIVZ801$224,8000.01%
252PALANTIR TECHNOLOGIES INCPLTR1,221$222,7350.01%
253SPDR GOLD TRGLD626$222,5240.01%
254AMERICAN HEALTHCARE REIT INCAHR5,234$219,8800.01%
255VANGUARD INDEX FDS9229086111,027$214,3450.01%
256BOEING COBA-PA993$214,2930.01%
257VANGUARD INDEX FDS922908595720$214,2860.01%
258SOFI TECHNOLOGIES INCSOFI8,000$211,3600.01%
259ALLIANT ENERGY CORPLNT3,112$209,7900.01%
260ISHARES TR4642877623,510$206,1070.01%
261VANGUARD WORLD FD92204A8011,000$204,8600.01%
262ISHARES TR4642886791,840$203,3020.01%
263LUMEN TECHNOLOGIES INCLUMN17,864$109,3290.01%
264SENSEONICS HLDGS INCSENS61,000$26,5840.00%