13F HOLDINGS REPORT

Smith, Salley & Associates

Quarter ended Q4 2025 · Filed January 27, 2026 · Accession 0001062993-26-000437

Total Value

$2.02B

Positions

264

Other Managers

Confidential Omitted

View on SEC.gov

Holdings (264)

#	Issuer	Ticker / CUSIP	Shares	Value	% of Filing
1	NVIDIA CORPORATION	NVDA	777,821	$145.1M	7.18%
2	MICROSOFT CORP	MSFT	237,331	$114.8M	5.68%
3	APPLE INC	AAPL	413,982	$112.5M	5.57%
4	ALPHABET INC	GOOG	275,832	$86.6M	4.29%
5	AMAZON COM INC	AMZN	274,057	$63.3M	3.13%
6	META PLATFORMS INC	META	78,996	$52.1M	2.58%
7	JPMORGAN CHASE & CO.	VYLD	158,354	$51.0M	2.53%
8	BERKSHIRE HATHAWAY INC DEL	BRK-A	101,345	$50.9M	2.52%
9	TJX COS INC NEW	872540109	277,634	$42.6M	2.11%
10	VISA INC	V	118,361	$41.5M	2.06%
11	RTX CORPORATION	RTX	208,316	$38.2M	1.89%
12	ABBVIE INC	ABBV	157,376	$36.0M	1.78%
13	THERMO FISHER SCIENTIFIC INC	TMO	58,727	$34.0M	1.69%
14	BROADCOM INC	AVGO	96,545	$33.4M	1.65%
15	LOWES COS INC	548661107	133,002	$32.1M	1.59%
16	ASML HOLDING N V	ASMLF	29,784	$31.9M	1.58%
17	BROOKFIELD CORP	11271J107	650,929	$29.9M	1.48%
18	ANALOG DEVICES INC	ADI	109,322	$29.6M	1.47%
19	MASTERCARD INCORPORATED	MA	50,706	$28.9M	1.43%
20	NEXTERA ENERGY INC	NEE-PW	354,438	$28.5M	1.41%
21	ARISTA NETWORKS INC	ANET	194,344	$25.5M	1.26%
22	MARVELL TECHNOLOGY INC	MRVL	284,341	$24.2M	1.20%
23	ALPHABET INC	GOOG	75,913	$23.8M	1.18%
24	ABBOTT LABS	ABLZF	187,165	$23.4M	1.16%
25	PROCTER AND GAMBLE CO	742718109	157,758	$22.6M	1.12%
26	ELI LILLY & CO	LLY	20,974	$22.5M	1.12%
27	LINDE PLC	LIN	52,732	$22.5M	1.11%
28	AMETEK INC	AME	107,943	$22.2M	1.10%
29	S&P GLOBAL INC	SPGI	38,597	$20.2M	1.00%
30	MARKEL GROUP INC	MKL	9,102	$19.6M	0.97%
31	CHEVRON CORP NEW	CVX	122,664	$18.7M	0.93%
32	CURTISS WRIGHT CORP	CW	32,769	$18.1M	0.89%
33	NXP SEMICONDUCTORS N V	NXPI	81,598	$17.7M	0.88%
34	PEPSICO INC	PEP	120,629	$17.3M	0.86%
35	CASEYS GEN STORES INC	147528103	30,370	$16.8M	0.83%
36	UNION PAC CORP	UNP	71,332	$16.5M	0.82%
37	PNC FINL SVCS GROUP INC	693475105	77,959	$16.3M	0.81%
38	MEDTRONIC PLC	MDT	160,266	$15.4M	0.76%
39	ROPER TECHNOLOGIES INC	ROP	33,659	$15.0M	0.74%
40	MICRON TECHNOLOGY INC	MU	51,806	$14.8M	0.73%
41	ISHARES TR	464288588	154,732	$14.7M	0.73%
42	ACCENTURE PLC IRELAND	ACN	54,686	$14.7M	0.73%
43	ELEVANCE HEALTH INC FORMERLY	ELV	38,095	$13.4M	0.66%
44	ASTRAZENECA PLC	AZN	135,605	$12.5M	0.62%
45	ISHARES TR	464288646	234,437	$12.4M	0.61%
46	AMPHENOL CORP NEW	032095101	89,766	$12.1M	0.60%
47	NORTHROP GRUMMAN CORP	NOC	21,159	$12.1M	0.60%
48	JOHNSON & JOHNSON	JNJ	55,582	$11.5M	0.57%
49	CUMMINS INC	CMI	21,768	$11.1M	0.55%
50	XYLEM INC	XYL	80,508	$11.0M	0.54%
51	TRANSDIGM GROUP INC	TDG	7,936	$10.6M	0.52%
52	FIDELITY COVINGTON TRUST	316092808	45,108	$10.1M	0.50%
53	ISHARES TR	46432F842	112,413	$10.1M	0.50%
54	EXXON MOBIL CORP	XOM	81,719	$9.8M	0.49%
55	WALMART INC	WMT	87,100	$9.7M	0.48%
56	COLGATE PALMOLIVE CO	CL	116,466	$9.2M	0.46%
57	CATERPILLAR INC	CAT	15,868	$9.1M	0.45%
58	SPDR S&P 500 ETF TR	SPY	12,032	$8.2M	0.41%
59	BANK AMERICA CORP	060505104	148,631	$8.2M	0.40%
60	ISHARES TR	464288638	135,196	$7.3M	0.36%
61	HOME DEPOT INC	HD	21,010	$7.2M	0.36%
62	ISHARES TR	464287432	77,667	$6.8M	0.34%
63	DUKE ENERGY CORP NEW	DUKB	56,806	$6.7M	0.33%
64	INTERNATIONAL BUSINESS MACHS	INTR	22,427	$6.6M	0.33%
65	BROOKFIELD ASSET MANAGMT LTD	113004105	112,689	$5.9M	0.29%
66	COCA COLA CO	KO	83,274	$5.8M	0.29%
67	CISCO SYS INC	CSCO	73,300	$5.6M	0.28%
68	FIRST BANCORP N C	318910106	110,644	$5.6M	0.28%
69	MOODYS CORP	MCO	10,804	$5.5M	0.27%
70	UNITEDHEALTH GROUP INC	UNH	16,633	$5.5M	0.27%
71	EATON CORP PLC	ETN	16,903	$5.4M	0.27%
72	MORGAN STANLEY	MS-PQ	27,838	$4.9M	0.24%
73	VANGUARD WORLD FD	92204A702	6,364	$4.8M	0.24%
74	AMERICAN EXPRESS CO	AXP	12,948	$4.8M	0.24%
75	VANGUARD INDEX FDS	922908769	13,979	$4.7M	0.23%
76	ISHARES INC	46434G103	69,246	$4.7M	0.23%
77	ISHARES TR	46434V407	106,852	$4.6M	0.23%
78	FIDELITY COVINGTON TRUST	316092501	56,311	$4.4M	0.22%
79	FIDELITY COVINGTON TRUST	316092873	57,943	$4.2M	0.21%
80	WELLS FARGO CO NEW	949746101	44,278	$4.1M	0.20%
81	MERCK & CO INC	MRK	38,466	$4.0M	0.20%
82	BLACKROCK INC	BLK	3,782	$4.0M	0.20%
83	SALESFORCE INC	CRM	14,435	$3.8M	0.19%
84	INVESCO QQQ TR	IVZ	6,159	$3.8M	0.19%
85	MCDONALDS CORP	MCD	12,230	$3.7M	0.19%
86	VERTIV HOLDINGS CO	VRT	22,721	$3.7M	0.18%
87	AT&T INC	T-PC	146,039	$3.6M	0.18%
88	TESLA INC	TSLA	8,002	$3.6M	0.18%
89	AMGEN INC	AMGN	10,786	$3.5M	0.17%
90	QUALCOMM INC	QCOM	20,526	$3.5M	0.17%
91	INTUITIVE SURGICAL INC	ISRG	6,083	$3.4M	0.17%
92	AMERICAN ELEC PWR CO INC	025537101	29,504	$3.4M	0.17%
93	VANGUARD WHITEHALL FDS	921946406	23,676	$3.4M	0.17%
94	TEXAS INSTRS INC	882508104	19,179	$3.3M	0.16%
95	MERCADOLIBRE INC	MELI	1,635	$3.3M	0.16%
96	ENBRIDGE INC	ENNPF	68,613	$3.3M	0.16%
97	STARBUCKS CORP	SBUX	38,663	$3.3M	0.16%
98	BOOKING HOLDINGS INC	BKNG	603	$3.2M	0.16%
99	FIDELITY COVINGTON TRUST	316092600	43,431	$3.2M	0.16%
100	HUNTINGTON BANCSHARES INC	HBANP	180,369	$3.1M	0.15%
101	VANGUARD INDEX FDS	922908736	6,330	$3.1M	0.15%
102	CHUBB LIMITED	CB	9,539	$3.0M	0.15%
103	IQVIA HLDGS INC	IQV	12,916	$2.9M	0.14%
104	ISHARES TR	464287614	6,111	$2.9M	0.14%
105	INVESCO EXCHANGE TRADED FD T	IVZ	59,300	$2.8M	0.14%
106	SERVICENOW INC	NOW	17,548	$2.7M	0.13%
107	HONEYWELL INTL INC	438516106	13,199	$2.6M	0.13%
108	CONOCOPHILLIPS	COP	27,225	$2.5M	0.13%
109	FIDELITY COVINGTON TRUST	316092709	30,643	$2.5M	0.13%
110	FIDELITY COVINGTON TRUST	316092204	24,201	$2.5M	0.12%
111	NETFLIX INC	NFLX	25,869	$2.4M	0.12%
112	VANGUARD SPECIALIZED FUNDS	921908844	10,848	$2.4M	0.12%
113	PROGRESSIVE CORP	743315103	10,407	$2.4M	0.12%
114	ISHARES TR	464288166	21,382	$2.4M	0.12%
115	CME GROUP INC	CME	8,564	$2.3M	0.12%
116	TRAVELERS COMPANIES INC	TRV	7,891	$2.3M	0.11%
117	GOLDMAN SACHS GROUP INC	GSCE	2,559	$2.2M	0.11%
118	BLACKSTONE INC	BX	14,562	$2.2M	0.11%
119	ATLANTIC UN BANKSHARES CORP	04911A107	62,161	$2.2M	0.11%
120	ISHARES TR	464287200	3,116	$2.1M	0.11%
121	APPLIED MATLS INC	038222105	8,222	$2.1M	0.10%
122	CBRE GROUP INC	CBRE	12,691	$2.0M	0.10%
123	ECOLAB INC	ECL	7,765	$2.0M	0.10%
124	VANGUARD INDEX FDS	922908363	3,202	$2.0M	0.10%
125	JOHNSON CTLS INTL PLC	G51502105	16,558	$2.0M	0.10%
126	L3HARRIS TECHNOLOGIES INC	LHX	6,320	$1.9M	0.09%
127	DIGITAL RLTY TR INC	253868103	11,983	$1.9M	0.09%
128	STRYKER CORPORATION	SYK	5,144	$1.8M	0.09%
129	AUTOMATIC DATA PROCESSING IN	ADP	6,596	$1.7M	0.08%
130	VERIZON COMMUNICATIONS INC	VZ	40,944	$1.7M	0.08%
131	FIRST CTZNS BANCSHARES INC D	31946M103	757	$1.6M	0.08%
132	PARKER-HANNIFIN CORP	PH	1,832	$1.6M	0.08%
133	SYNOPSYS INC	SNPS	3,309	$1.6M	0.08%
134	AIR PRODS & CHEMS INC	AIIR	6,226	$1.5M	0.08%
135	SELECT SECTOR SPDR TR	81369Y605	27,655	$1.5M	0.08%
136	MARRIOTT INTL INC NEW	571903202	4,776	$1.5M	0.07%
137	MONDELEZ INTL INC	609207105	27,295	$1.5M	0.07%
138	INTUIT	INTU	2,161	$1.4M	0.07%
139	SELECT SECTOR SPDR TR	81369Y209	8,949	$1.4M	0.07%
140	ISHARES TR	46434V282	19,174	$1.3M	0.07%
141	VANGUARD TAX-MANAGED FDS	921943858	21,296	$1.3M	0.07%
142	ISHARES TR	464287689	3,221	$1.2M	0.06%
143	PROLOGIS INC.	PLDGP	9,686	$1.2M	0.06%
144	FIDELITY COVINGTON TRUST	316092402	48,042	$1.2M	0.06%
145	SCHWAB STRATEGIC TR	808524102	43,968	$1.2M	0.06%
146	ISHARES TR	464287481	8,419	$1.2M	0.06%
147	FIDELITY COVINGTON TRUST	316092303	23,347	$1.1M	0.06%
148	SELECT SECTOR SPDR TR	81369Y407	9,366	$1.1M	0.06%
149	SELECT SECTOR SPDR TR	81369Y704	6,818	$1.1M	0.05%
150	SELECT SECTOR SPDR TR	81369Y803	7,298	$1.1M	0.05%
151	NIKE INC	NKE	16,434	$1.0M	0.05%
152	MARSH & MCLENNAN COS INC	571748102	5,521	$1.0M	0.05%
153	SCHWAB STRATEGIC TR	808524201	35,831	$964,212	0.05%
154	INVESCO EXCHANGE TRADED FD T	IVZ	20,743	$951,896	0.05%
155	SOUTHERN CO	SOMN	10,617	$925,781	0.05%
156	YUM BRANDS INC	YUM	6,013	$909,647	0.05%
157	TRACTOR SUPPLY CO	TSCO	17,843	$892,304	0.04%
158	ISHARES TR	464287655	3,600	$886,205	0.04%
159	HEARTBEAM INC	BEATW	367,647	$882,353	0.04%
160	TRUIST FINL CORP	89832Q109	17,761	$874,029	0.04%
161	NASDAQ INC	NDAQ	8,450	$820,749	0.04%
162	ISHARES TR	464287499	8,061	$776,032	0.04%
163	NORTHERN TR CORP	NTRSO	5,646	$771,187	0.04%
164	TAIWAN SEMICONDUCTOR MFG LTD	874039100	2,528	$768,087	0.04%
165	KLA CORP	KLAC	632	$767,932	0.04%
166	BERKSHIRE HATHAWAY INC DEL	BRK-A	1	$754,800	0.04%
167	FIDELITY COVINGTON TRUST	316092865	13,465	$743,562	0.04%
168	INVESCO EXCH TRADED FD TR II	IVZ	10,403	$743,017	0.04%
169	US BANCORP DEL	USB-PS	13,832	$738,076	0.04%
170	ISHARES TR	464287622	1,949	$727,835	0.04%
171	EMERSON ELEC CO	EMR	5,475	$726,692	0.04%
172	CVS HEALTH CORP	CVS	9,113	$723,208	0.04%
173	FIDELITY COVINGTON TRUST	316092881	13,520	$718,033	0.04%
174	CROWDSTRIKE HLDGS INC	CRWD	1,516	$710,640	0.04%
175	PHILIP MORRIS INTL INC	718172109	4,357	$698,830	0.03%
176	ORACLE CORP	ORCL-PD	3,512	$684,573	0.03%
177	TYLER TECHNOLOGIES INC	TYL	1,445	$655,974	0.03%
178	CSX CORP	CSX	17,003	$616,351	0.03%
179	NORFOLK SOUTHN CORP	655844108	2,128	$614,441	0.03%
180	PALANTIR TECHNOLOGIES INC	PLTR	3,354	$596,174	0.03%
181	BRISTOL-MYERS SQUIBB CO	CELG-RI	10,652	$574,592	0.03%
182	VANGUARD WORLD FD	92204A504	1,980	$569,943	0.03%
183	GE AEROSPACE	369604301	1,784	$549,579	0.03%
184	LOCKHEED MARTIN CORP	LMT	1,066	$515,592	0.03%
185	GLOBE LIFE INC	GL-PD	3,648	$510,209	0.03%
186	COSTCO WHSL CORP NEW	22160K105	554	$478,039	0.02%
187	ISHARES TR	464287507	7,220	$476,520	0.02%
188	SCHWAB STRATEGIC TR	808524409	16,042	$475,006	0.02%
189	NOVARTIS AG	NVSEF	3,392	$467,655	0.02%
190	VANGUARD ADMIRAL FDS INC	921932505	1,050	$466,820	0.02%
191	INVESCO EXCHANGE TRADED FD T	IVZ	7,779	$461,157	0.02%
192	SCHWAB STRATEGIC TR	808524300	14,043	$458,070	0.02%
193	SCHWAB STRATEGIC TR	808524797	16,506	$452,758	0.02%
194	FIDELITY COVINGTON TRUST	316092857	16,685	$448,657	0.02%
195	CORNING INC	GLW	5,085	$445,252	0.02%
196	ALTRIA GROUP INC	MO	7,711	$444,637	0.02%
197	VANGUARD INTL EQUITY INDEX F	922042858	8,192	$440,402	0.02%
198	AFLAC INC	AFL	3,935	$433,897	0.02%
199	SCHWAB STRATEGIC TR	808524771	15,911	$432,938	0.02%
200	VALERO ENERGY CORP	VLO	2,605	$424,068	0.02%
201	SHOPIFY INC	SHOP	2,601	$418,683	0.02%
202	VANGUARD INDEX FDS	922908629	1,407	$408,462	0.02%
203	MARATHON PETE CORP	MARA	2,456	$399,426	0.02%
204	VANGUARD INTL EQUITY INDEX F	922042775	5,347	$393,311	0.02%
205	ALLSTATE CORP	ALL-PJ	1,857	$386,534	0.02%
206	VANGUARD INDEX FDS	922908744	1,990	$380,154	0.02%
207	VANGUARD INTL EQUITY INDEX F	922042742	2,637	$371,975	0.02%
208	WHEATON PRECIOUS METALS CORP	WPM	3,150	$370,188	0.02%
209	ISHARES TR	464287648	1,144	$369,523	0.02%
210	CAL MAINE FOODS INC	CALM	4,600	$366,022	0.02%
211	GE VERNOVA INC	GEV	553	$361,248	0.02%
212	PPG INDS INC	693506107	3,512	$359,793	0.02%
213	PULTE GROUP INC	745867101	3,042	$356,705	0.02%
214	ADVANCED MICRO DEVICES INC	AMD	1,661	$355,720	0.02%
215	DIMENSIONAL ETF TRUST	25434V724	7,344	$342,174	0.02%
216	SPDR SERIES TRUST	78464A888	3,240	$333,590	0.02%
217	GENERAL DYNAMICS CORP	GD	968	$325,885	0.02%
218	ISHARES TR	464287598	1,525	$320,769	0.02%
219	SPDR DOW JONES INDL AVERAGE	78467X109	655	$314,604	0.02%
220	LIVE OAK BANCSHARES INC	LOB-PA	8,954	$307,570	0.02%
221	SPDR INDEX SHS FDS	78463X889	6,880	$305,541	0.02%
222	ISHARES TR	464287879	2,679	$304,656	0.02%
223	ISHARES TR	46429B663	2,498	$303,789	0.02%
224	BOEING CO	BA-PA	1,383	$300,299	0.01%
225	PALO ALTO NETWORKS INC	PANW	1,598	$294,352	0.01%
226	SELECT SECTOR SPDR TR	81369Y308	3,768	$292,698	0.01%
227	ISHARES TR	464287150	1,966	$292,381	0.01%
228	DEERE & CO	DE	626	$291,529	0.01%
229	SCHWAB STRATEGIC TR	808524805	12,070	$290,163	0.01%
230	ISHARES TR	464287465	3,007	$288,762	0.01%
231	VANGUARD WORLD FD	92204A108	732	$288,349	0.01%
232	CONSTELLATION ENERGY CORP	CEG	784	$276,964	0.01%
233	KIMBERLY-CLARK CORP	KMB	2,715	$273,872	0.01%
234	VANECK ETF TRUST	92189F676	756	$272,212	0.01%
235	FIRST TR EXCHANGE-TRADED FD	33733E302	1,000	$269,180	0.01%
236	SCHWAB STRATEGIC TR	808524763	8,302	$261,596	0.01%
237	LINCOLN NATL CORP IND	534187109	5,869	$261,325	0.01%
238	JACOBS SOLUTIONS INC	J	1,964	$260,151	0.01%
239	AXON ENTERPRISE INC	AXON	450	$255,569	0.01%
240	ISHARES TR	464287630	1,399	$253,513	0.01%
241	DANAHER CORPORATION	235851102	1,099	$251,539	0.01%
242	SPDR GOLD TR	GLD	626	$248,090	0.01%
243	AMERICAN HEALTHCARE REIT INC	AHR	5,234	$246,312	0.01%
244	DELTA AIR LINES INC DEL	DAL	3,505	$243,247	0.01%
245	VANGUARD INDEX FDS	922908637	762	$239,924	0.01%
246	SPDR SERIES TRUST	78464A763	1,717	$238,938	0.01%
247	ROYAL BK CDA	780087102	1,367	$233,060	0.01%
248	SPDR SERIES TRUST	78468R663	2,546	$232,653	0.01%
249	ISHARES TR	464287762	3,510	$228,501	0.01%
250	INVESCO EXCHANGE TRADED FD T	IVZ	801	$224,800	0.01%
251	ENTERPRISE PRODS PARTNERS L	293792107	6,943	$222,578	0.01%
252	VANGUARD INDEX FDS	922908595	720	$217,519	0.01%
253	VANGUARD INDEX FDS	922908611	1,027	$217,508	0.01%
254	UBER TECHNOLOGIES INC	UBER	2,645	$216,123	0.01%
255	DISNEY WALT CO	254687106	1,857	$211,274	0.01%
256	SOFI TECHNOLOGIES INC	SOFI	8,000	$209,440	0.01%
257	ROYAL GOLD INC	RGLD	938	$208,508	0.01%
258	VANGUARD WORLD FD	92204A801	1,000	$207,550	0.01%
259	ISHARES TR	464288679	1,840	$202,676	0.01%
260	ALLIANT ENERGY CORP	LNT	3,112	$202,321	0.01%
261	LAM RESEARCH CORP	LRCX	1,181	$202,095	0.01%
262	OR ROYALTIES INC.	OR	5,700	$201,723	0.01%
263	BARRICK MNG CORP	06849F108	4,621	$201,253	0.01%
264	LUMEN TECHNOLOGIES INC	LUMN	17,865	$138,808	0.01%