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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

Royal Fund Management, LLC

Quarter ended Q2 2025 · Filed August 13, 2025 · Accession 0001172661-25-003168

Total Value
$1.01B
Positions
335
Other Managers
0
Confidential Omitted
No
View on SEC.gov

Holdings (335)

#IssuerTicker / CUSIPSharesValue% of Filing
1VANGUARD INDEX FDS92290836354,872$31.3M3.10%
2MICROSOFT CORPMSFT62,322$31.1M3.08%
3SPDR S&P 500 ETF TRSPY42,000$26.0M2.58%
4SELECT SECTOR SPDR TR81369Y605398,084$20.9M2.07%
5ISHARES TR464287432222,300$19.6M1.95%
6NVIDIA CORPORATIONNVDA115,323$18.2M1.81%
7ISHARES TR464287309163,099$18.0M1.78%
8INVESCO QQQ TRIVZ28,487$15.8M1.57%
9JPMORGAN CHASE & CO.VYLD49,414$14.3M1.42%
10SELECT SECTOR SPDR TR81369Y70493,740$13.8M1.37%
11ROBINHOOD MKTS INC770700102138,147$12.9M1.28%
12BROADCOM INCAVGO46,753$12.9M1.28%
13INVESCO EXCHANGE TRADED FD TIVZ70,006$12.7M1.26%
14SELECT SECTOR SPDR TR81369Y852111,605$12.1M1.20%
15SPDR GOLD TRGLD37,561$11.4M1.14%
16ISHARES TR46432F39641,952$10.1M1.00%
17VANGUARD WORLD FD92204A70215,125$10.1M1.00%
18UBER TECHNOLOGIES INCUBER105,500$9.8M0.98%
19SELECT SECTOR SPDR TR81369Y886118,156$9.6M0.96%
20QUALCOMM INCQCOM58,802$9.4M0.93%
21ISHARES TR464287465103,255$9.2M0.92%
22SCHWAB STRATEGIC TR808524300312,194$9.1M0.91%
23VANGUARD INDEX FDS92290873620,714$9.1M0.90%
24VANGUARD SCOTTSDALE FDS92206C68081,982$9.0M0.89%
25META PLATFORMS INCMETA12,063$8.9M0.88%
26WALMART INCWMT88,588$8.7M0.86%
27RTX CORPORATIONRTX58,799$8.6M0.85%
28ABBVIE INCABBV46,164$8.6M0.85%
29ALPHABET INCGOOG46,841$8.3M0.82%
30APPLE INCAAPL39,772$8.2M0.81%
31INTERNATIONAL BUSINESS MACHSINTR27,605$8.1M0.81%
32ISHARES TR46428765537,311$8.1M0.80%
33VANGUARD WORLD FD92191081621,601$7.9M0.79%
34ISHARES TR46429B598142,013$7.9M0.79%
35ISHARES TR46434V621123,376$7.9M0.78%
36AMAZON COM INCAMZN33,872$7.4M0.74%
37BLACKSTONE INCBX48,823$7.3M0.73%
38SPDR SERIES TRUST78464A77149,817$7.2M0.72%
39DARDEN RESTAURANTS INCDRI33,185$7.2M0.72%
40VANGUARD WORLD FD92204A50427,976$7.0M0.69%
41VERTIV HOLDINGS COVRT53,446$6.9M0.68%
42ISHARES TR46434V613148,296$6.9M0.68%
43TESLA INCTSLA21,350$6.8M0.67%
44CROWDSTRIKE HLDGS INCCRWD12,561$6.4M0.63%
45DIGITAL RLTY TR INC25386810336,171$6.3M0.63%
46AT&T INCT-PC217,644$6.3M0.63%
47AMGEN INCAMGN22,184$6.2M0.62%
483M COMMM40,088$6.1M0.61%
49PHILLIPS 66PSX49,517$5.9M0.59%
50ONEOK INC NEWOKE70,703$5.8M0.57%
51CAVA GROUP INCCAVA68,300$5.8M0.57%
52WASTE MGMT INC DEL94106L10925,026$5.7M0.57%
53GARMIN LTDGRMN27,105$5.7M0.56%
54ROBINHOOD MKTS INC77070010259,900$5.6M0.56%
55SPDR SERIES TRUST78464A87067,521$5.6M0.56%
56CVS HEALTH CORPCVS80,545$5.6M0.55%
57MERCK & CO INCMRK68,673$5.4M0.54%
58CISCO SYS INCCSCO75,247$5.2M0.52%
59PROCTER AND GAMBLE CO74271810932,630$5.2M0.52%
60SHOPIFY INCSHOP43,797$5.1M0.50%
61LAMAR ADVERTISING CO NEWLAMR41,568$5.0M0.50%
62MCDONALDS CORPMCD16,901$5.0M0.49%
63ISHARES TR464289875106,655$4.9M0.49%
64J P MORGAN EXCHANGE TRADED F46641Q878103,486$4.8M0.48%
65US BANCORP DELUSB-PS106,200$4.8M0.48%
66INVESCO EXCH TRADED FD TR IIIVZ241,391$4.8M0.48%
67UNION PAC CORPUNP20,571$4.7M0.47%
68OKTA INCOKTA47,400$4.7M0.47%
69EMERSON ELEC COEMR35,510$4.7M0.47%
70SNOWFLAKE INCSNOW21,139$4.7M0.47%
71VANGUARD WHITEHALL FDS92194688571,252$4.7M0.46%
72NEWMONT CORPNEMCL79,754$4.6M0.46%
73STARBUCKS CORPSBUX50,334$4.6M0.46%
74VERIZON COMMUNICATIONS INCVZ105,173$4.6M0.45%
75NETAPP INCNTAP42,234$4.5M0.45%
76VANGUARD ADMIRAL FDS INC92193250511,203$4.4M0.44%
77ISHARES TR46428865343,650$4.4M0.44%
78JOHNSON & JOHNSONJNJ28,080$4.3M0.43%
79GOLDMAN SACHS GROUP INCGSCE6,047$4.3M0.42%
80FREEPORT-MCMORAN INCFCX98,320$4.3M0.42%
81CHENIERE ENERGY INCLNG17,293$4.2M0.42%
82UPSTART HLDGS INCUPST64,926$4.2M0.42%
83PAYCHEX INCPAYX28,327$4.1M0.41%
84UBER TECHNOLOGIES INCUBER43,000$4.0M0.40%
85MARVELL TECHNOLOGY INCMRVL51,486$4.0M0.40%
86CAVA GROUP INCCAVA47,300$4.0M0.40%
87NVIDIA CORPORATIONNVDA25,200$4.0M0.40%
88DATADOG INCDDOG29,430$4.0M0.39%
89MICRON TECHNOLOGY INCMU31,502$3.9M0.39%
90DUKE ENERGY CORP NEWDUKB32,708$3.9M0.38%
91KINDER MORGAN INC DELEP-PC131,310$3.9M0.38%
92KIMBERLY-CLARK CORPKMB29,914$3.9M0.38%
93SAMSARA INCIOT96,915$3.9M0.38%
94MARVELL TECHNOLOGY INCMRVL49,500$3.8M0.38%
95TWILIO INCTWLO29,820$3.7M0.37%
96GREENBRIER COS INC39365710179,836$3.7M0.37%
97FREEPORT-MCMORAN INCFCX84,100$3.6M0.36%
98MICRON TECHNOLOGY INCMU29,300$3.6M0.36%
99TWILIO INCTWLO28,900$3.6M0.36%
100SHOPIFY INCSHOP30,500$3.5M0.35%
101VANGUARD WORLD FD92191084026,263$3.5M0.34%
102TYSON FOODS INCTSN61,602$3.5M0.34%
103STRYKER CORPORATIONSYK8,650$3.4M0.34%
104OKTA INCOKTA33,700$3.4M0.33%
105SUNCOR ENERGY INC NEWSU89,220$3.3M0.33%
106ELI LILLY & COLLY4,205$3.3M0.33%
107CHEVRON CORP NEWCVX22,764$3.3M0.32%
108VANGUARD INTL EQUITY INDEX F92204274225,033$3.2M0.32%
109SYSCO CORPSYY42,535$3.2M0.32%
110BROADCOM INCAVGO11,600$3.2M0.32%
111VANGUARD INDEX FDS92290876910,062$3.1M0.30%
112VANGUARD SPECIALIZED FUNDS92190884414,941$3.1M0.30%
113SAMSARA INCIOT75,300$3.0M0.30%
114VANGUARD INDEX FDS9229086379,906$2.8M0.28%
115GITLAB INCGTLB62,286$2.8M0.28%
116VANGUARD WORLD FD92204A30623,341$2.8M0.28%
117VANGUARD WORLD FD92204A88416,139$2.8M0.27%
118VANGUARD WORLD FD92204A20712,508$2.7M0.27%
119ORACLE CORPORCL-PD12,474$2.7M0.27%
120SOUTHERN COPPER CORPSCCO26,655$2.7M0.27%
121ISHARES TR46429B65552,262$2.7M0.26%
122UPSTART HLDGS INCUPST41,100$2.7M0.26%
123VERTIV HOLDINGS COVRT20,700$2.7M0.26%
124MONGODB INCMDB12,600$2.6M0.26%
125GITLAB INCGTLB57,200$2.6M0.26%
126ADVANCED MICRO DEVICES INCAMD18,120$2.6M0.26%
127TEXAS INSTRS INC88250810412,384$2.6M0.26%
128CREDO TECHNOLOGY GROUP HOLDICRDO27,700$2.6M0.25%
129BRISTOL-MYERS SQUIBB COCELG-RI55,068$2.5M0.25%
130WELLS FARGO CO NEW94974610131,634$2.5M0.25%
131ASML HOLDING N VASMLF3,082$2.4M0.24%
132MEDTRONIC PLCMDT27,448$2.4M0.24%
133VANGUARD WORLD FD92204A87612,698$2.2M0.22%
134THE TRADE DESK INC88339J10531,002$2.2M0.22%
135AGNICO EAGLE MINES LTDAEM18,704$2.2M0.22%
136HONDA MOTOR LTDHNDAF76,862$2.2M0.22%
137ARCHER DANIELS MIDLAND COADM41,542$2.2M0.22%
138RIO TINTO PLCRTNTF37,576$2.2M0.22%
139CHIPOTLE MEXICAN GRILL INCCMG38,086$2.1M0.21%
140UNITED PARCEL SERVICE INCUPS20,934$2.1M0.21%
141VANGUARD WORLD FD92204A40516,495$2.1M0.21%
142VANGUARD WORLD FD92204A6037,308$2.1M0.20%
143ENTERGY CORP NEWENO24,600$2.0M0.20%
144DEVON ENERGY CORP NEW25179M10364,000$2.0M0.20%
145VANGUARD WORLD FD92204A1085,487$2.0M0.20%
146MAGNA INTL INC55922240150,936$2.0M0.20%
147COCA COLA COKO26,917$1.9M0.19%
148ADVANCED MICRO DEVICES INCAMD13,400$1.9M0.19%
149VANGUARD WELLINGTON FD92193570612,989$1.9M0.19%
150SWEETGREEN INCSG122,442$1.8M0.18%
151MARRIOTT INTL INC NEW5719032026,594$1.8M0.18%
152VANGUARD INDEX FDS9229086296,410$1.8M0.18%
153VANGUARD WHITEHALL FDS92194640613,141$1.8M0.17%
154SALESFORCE INCCRM6,366$1.7M0.17%
155PHILIP MORRIS INTL INC7181721099,151$1.7M0.17%
156VANGUARD SCOTTSDALE FDS92206C7305,832$1.6M0.16%
157DEERE & CODE3,223$1.6M0.16%
158XCEL ENERGY INCXELLL23,696$1.6M0.16%
159ASTERA LABS INCALAB17,758$1.6M0.16%
160KROGER COKR21,700$1.6M0.15%
161NEXTERA ENERGY INCNEE-PW22,367$1.6M0.15%
162VANGUARD INDEX FDS9229085385,282$1.5M0.15%
163IRON MTN INC DEL46284V10114,560$1.5M0.15%
164PROLOGIS INC.PLDGP14,200$1.5M0.15%
165HONEYWELL INTL INC4385161066,311$1.5M0.15%
166DOW INCDOW55,133$1.5M0.14%
167RESTAURANT BRANDS INTL INC76131D10321,930$1.5M0.14%
168MICROSTRATEGY INCSTRK3,592$1.5M0.14%
169ISHARES TR46428866112,146$1.4M0.14%
170PALANTIR TECHNOLOGIES INCPLTR10,349$1.4M0.14%
171NVIDIA CORPORATIONNVDA8,800$1.4M0.14%
172ISHARES TR46428863826,057$1.4M0.14%
173SMUCKER J M CO83269640514,100$1.4M0.14%
174OMEGA HEALTHCARE INVS INC68193610037,212$1.4M0.14%
175TOAST INCTOST30,200$1.3M0.13%
176PPL CORPPPLC37,867$1.3M0.13%
177ISHARES TR46428776221,445$1.2M0.12%
178AMERICAN TOWER CORP NEW03027X1005,469$1.2M0.12%
179VANGUARD INDEX FDS9229085954,259$1.2M0.12%
180ASTERA LABS INCALAB13,100$1.2M0.12%
181ACCENTURE PLC IRELANDACN3,881$1.2M0.12%
182REDDIT INCRDDT7,550$1.1M0.11%
183BHP GROUP LTDBHPLF23,391$1.1M0.11%
184GSK PLCGLAXF29,272$1.1M0.11%
185OCCIDENTAL PETE CORP67459910525,933$1.1M0.11%
186CONAGRA BRANDS INCCAG52,600$1.1M0.11%
187MONDELEZ INTL INC60920710515,830$1.1M0.11%
188TC ENERGY CORPTRPRF21,487$1.0M0.10%
189ARM HOLDINGS PLC0420682056,360$1.0M0.10%
190BLOCK INCBSQKZ15,035$1.0M0.10%
191MARKEL GROUP INCMKL510$1.0M0.10%
192WP CAREY INC92936U10916,304$1.0M0.10%
193ALBEMARLE CORPALB-PA16,000$1.0M0.10%
194VANGUARD WORLD FD9219108734,367$984,3270.10%
195EOG RES INCEOG8,132$972,6140.10%
196ROBINHOOD MKTS INC77070010210,100$945,6630.09%
197PALANTIR TECHNOLOGIES INCPLTR6,900$940,6080.09%
198MONGODB INCMDB4,400$923,9560.09%
199TIDAL TRUST I88636466041,895$892,7800.09%
200CF INDS HLDGS INC1252691009,700$892,4000.09%
201VISTRA CORPVST4,600$891,5260.09%
202SELECT SECTOR SPDR TR81369Y8033,463$878,9610.09%
203HOME DEPOT INCHD2,384$874,0520.09%
204CITIGROUP INCC-PR10,254$872,8070.09%
205INVESCO EXCHANGE TRADED FD TIVZ16,151$842,4220.08%
206UNIVERSAL HLTH SVCS INC9139031004,588$831,1160.08%
207INVESCO EXCHANGE TRADED FD TIVZ19,176$782,0240.08%
208GILEAD SCIENCES INCGILD7,027$779,0200.08%
209APPLOVIN CORPAPP2,200$770,1760.08%
210APPLOVIN CORPAPP2,200$770,1760.08%
211GLOBAL MED REIT INC37954A204110,805$767,8850.08%
212LYONDELLBASELL INDUSTRIES NLYB13,200$763,7520.08%
213VANECK ETF TRUST92189F48628,352$722,8750.07%
214SPDR SERIES TRUST78468R6637,792$715,1280.07%
215PFIZER INCPFE29,155$706,7300.07%
216ENPHASE ENERGY INCENPH16,822$666,9920.07%
217ISHARES TR4642876067,157$652,5090.06%
218TESLA INCTSLA2,000$635,3200.06%
219DIAMONDBACK ENERGY INCFANG4,546$624,6180.06%
220ISHARES TR4642874083,134$612,4470.06%
221PDD HOLDINGS INCPDD5,835$610,6910.06%
222SPDR S&P MIDCAP 400 ETF TRMDY1,075$608,9660.06%
223ARM HOLDINGS PLC0420682053,600$582,2640.06%
224FRANKLIN TEMPLETON ETF TRFGDL16,083$573,2330.06%
225SCHLUMBERGER LTDSLB16,771$566,8460.06%
226VIKING THERAPEUTICS INCVKTX21,376$566,4650.06%
227NETFLIX INCNFLX416$557,0770.06%
228SELECT SECTOR SPDR TR81369Y5066,440$546,2450.05%
229SPDR SERIES TRUST78468R8123,333$543,6710.05%
230FIRST TR EXCHANGE-TRADED FD3373451022,437$518,6080.05%
231SNOWFLAKE INCSNOW2,300$514,6710.05%
232MOTOROLA SOLUTIONS INCMSI1,200$504,5520.05%
233CONSOLIDATED EDISON INCED4,914$493,1200.05%
234JD.COM INCJDCMF14,514$473,7360.05%
235JD.COM INCJDCMF14,400$470,0160.05%
236EXXON MOBIL CORPXOM3,822$412,0200.04%
237ISHARES TR4642877542,875$409,1110.04%
238INVESCO EXCHANGE TRADED FD TIVZ13,557$406,3180.04%
239JPMORGAN CHASE & CO.VYLD1,400$405,8740.04%
240MICROSTRATEGY INCSTRK1,000$404,2300.04%
241ISHARES TR4642878873,006$401,1350.04%
242MORGAN STANLEYMS-PQ2,772$390,4640.04%
243META PLATFORMS INCMETA500$369,0450.04%
244BANK AMERICA CORP0605051047,778$368,0730.04%
245ISHARES TR464287200584$362,7110.04%
246AMERIPRISE FINL INC03076C106636$339,3990.03%
247TIMKEN COTKR4,631$335,9790.03%
248SOUTHERN COSOMN3,640$334,3010.03%
249ISHARES TR4642877052,625$324,4650.03%
250COSTCO WHSL CORP NEW22160K105324$320,7420.03%
251TESLA INCTSLA1,000$317,6600.03%
252BERKSHIRE HATHAWAY INC DELBRK-A651$316,2380.03%
253ISHARES SILVER TRSLV9,578$314,2550.03%
254ISHARES TR4642876972,990$312,5180.03%
255AMERICAN EXPRESS COAXP967$308,4310.03%
256INTERNATIONAL BUSINESS MACHSINTR1,000$294,7800.03%
257MONOLITHIC PWR SYS INC609839105402$294,0140.03%
258TAIWAN SEMICONDUCTOR MFG LTD8740391001,295$293,3170.03%
259PEPSICO INCPEP2,206$291,2550.03%
260CONOCOPHILLIPSCOP3,131$280,9540.03%
261FORD MTR CO34537086025,353$275,0740.03%
262VISA INCV770$273,3900.03%
263ALLIANT ENERGY CORPLNT4,444$268,7280.03%
264INTUITINTU339$266,8030.03%
265SERVICENOW INCNOW248$254,9650.03%
266GE AEROSPACE369604301979$252,0740.03%
267GRAYSCALE BITCOIN TRUST ETFGBTC2,880$240,9740.02%
268ALLSTATE CORPALL-PJ1,142$229,9540.02%
269YUM BRANDS INCYUM1,542$228,4940.02%
270COHERENT CORPCOHR2,543$226,8600.02%
271ELEVANCE HEALTH INCELV578$224,8190.02%
272NETAPP INCNTAP2,100$223,7550.02%
273LOCKHEED MARTIN CORPLMT478$221,5310.02%
274DISNEY WALT CO2546871061,757$217,8930.02%
275ETSY INCETSY4,210$211,1740.02%
276LINDE PLCLIN446$209,3020.02%
277KROGER COKR2,600$186,4980.02%
278NEWMONT CORPNEMCL1,500$184,8000.02%
279UNION PAC CORPUNP800$184,0640.02%
280DARDEN RESTAURANTS INCDRI800$174,3760.02%
281GARMIN LTDGRMN800$166,9760.02%
282SYSCO CORPSYY2,200$166,6280.02%
283CLEANSPARK INCCLSKW14,900$164,3470.02%
284UNITED PARCEL SERVICE INCUPS1,600$161,5040.02%
285DIGITAL RLTY TR INC253868103900$156,8970.02%
2863M COMMM1,000$152,2400.02%
287GREENBRIER COS INC3936571013,300$151,9650.02%
288ABBVIE INCABBV800$148,4960.01%
289MORGAN STANLEYMS-PQ1,000$140,8600.01%
290MERCK & CO INCMRK2,300$138,0000.01%
291BLACKSTONE INCBX900$134,6220.01%
292EMERSON ELEC COEMR1,000$133,3300.01%
293QUALCOMM INCQCOM800$127,4080.01%
294LAMAR ADVERTISING CO NEWLAMR1,000$121,3600.01%
295AMERICAN TOWER CORP NEW03027X100500$110,5100.01%
296PAYCHEX INCPAYX700$101,8220.01%
297PHILLIPS 66PSX800$95,4400.01%
298PALANTIR TECHNOLOGIES INCPLTR700$95,4240.01%
299UBER TECHNOLOGIES INCUBER1,000$93,3000.01%
300AT&T INCT-PC3,100$89,7140.01%
301RTX CORPORATIONRTX600$87,6120.01%
302APPLIED DIGITAL CORPAPLD8,150$82,0710.01%
303ARM HOLDINGS PLC042068205500$80,8700.01%
304APPLIED DIGITAL CORPAPLD8,000$80,5600.01%
305THE TRADE DESK INC88339J1051,200$74,3760.01%
306CONAGRA BRANDS INCCAG3,500$71,6450.01%
307CVS HEALTH CORPCVS1,000$68,9800.01%
308PROCTER AND GAMBLE CO742718109400$63,7280.01%
309PROLOGIS INC.PLDGP600$63,0720.01%
310EOG RES INCEOG500$59,8050.01%
311LYONDELLBASELL INDUSTRIES NLYB1,000$57,8600.01%
312VERIZON COMMUNICATIONS INCVZ1,300$56,2510.01%
313CISCO SYS INCCSCO800$55,5040.01%
314MICROSOFT CORPMSFT100$49,7410.00%
315ONEOK INC NEWOKE600$48,9780.00%
316STARBUCKS CORPSBUX500$45,8150.00%
317DEVON ENERGY CORP NEW25179M1031,300$41,3530.00%
318DATADOG INCDDOG200$26,8660.00%
319TOAST INCTOST600$26,5740.00%
320KIMBERLY-CLARK CORPKMB200$25,7840.00%
321VERTIV HOLDINGS COVRT200$25,6820.00%
322RING ENERGY INCREI30,000$23,8200.00%
323ENPHASE ENERGY INCENPH600$23,7900.00%
324WASTE MGMT INC DEL94106L109100$22,8820.00%
325TAIWAN SEMICONDUCTOR MFG LTD874039100100$22,6490.00%
326AMAZON COM INCAMZN100$21,9390.00%
327ALPHABET INCGOOG100$17,6230.00%
328ADVANCED MICRO DEVICES INCAMD100$14,1900.00%
329DISNEY WALT CO254687106100$12,4010.00%
330CLEANSPARK INCCLSKW1,000$11,0300.00%
331ETSY INCETSY200$10,0320.00%
332CREDO TECHNOLOGY GROUP HOLDICRDO100$9,2590.00%
333SUNCOR ENERGY INC NEWSU200$7,4900.00%
334TYSON FOODS INCTSN100$5,5940.00%
335GITLAB INCGTLB100$4,5110.00%