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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

Ironwood Investment Counsel, LLC

Quarter ended Q2 2025 · Filed August 8, 2025 · Accession 0001330463-25-000004

Total Value
$647.2M
Positions
267
Other Managers
0
Confidential Omitted
No
View on SEC.gov

Holdings (267)

#IssuerTicker / CUSIPSharesValue% of Filing
1MicrosoftMSFT90,351$44.9M6.94%
2Schwab Fundemental US Small Company ETF8085247631,179,447$33.8M5.22%
3AppleAAPL128,987$26.5M4.09%
4Amazon.com Inc.SPGI72,080$15.8M2.44%
5Alphabet Inc Class AXOM82,787$14.6M2.25%
6American ExpressAXP38,947$12.4M1.92%
7Berkshire Hathaway Inc Class BBRK-A24,913$12.1M1.87%
8Charles Schwab CorpSCHW-PJ131,542$12.0M1.85%
9Meta Platforms Inc Class AMETA15,313$11.3M1.75%
10Schwab Fundamental US Large Company ETF808524771453,479$11.1M1.72%
11MastercardMA18,424$10.4M1.60%
12KLA CorporationKLAC11,165$10.0M1.55%
13Johnson & JohnsonJNJ63,616$9.7M1.50%
14iShares S&P 500 Index46428720014,141$8.8M1.36%
15JP Morgan Chase & CoVYLD29,993$8.7M1.34%
16SyscoSYY114,667$8.7M1.34%
17Accenture PLCACN28,067$8.4M1.30%
18Cummins IncCMI24,184$7.9M1.22%
19Fiserv IncFISV45,207$7.8M1.20%
20QualcommQCOM47,754$7.6M1.18%
21Broadcom LtdAVGO27,375$7.5M1.17%
22Lockheed Martin CorpLMT16,277$7.5M1.16%
23IBMINTR25,395$7.5M1.16%
24MedtronicMDT80,470$7.0M1.08%
25Walt Disney Co25468710656,422$7.0M1.08%
26US BancorpUSB-PS151,806$6.9M1.06%
27Home DepotHD18,211$6.7M1.03%
28Adobe Systems IncT-PC17,088$6.6M1.02%
29Laboratory Corp of America Holdings50540R40922,889$6.0M0.93%
30NVIDIA CorpNVDA36,881$5.8M0.90%
31Anheuser-Busch Inbev SA ADRBUDFF84,502$5.8M0.90%
32Lowes Companies54866110725,630$5.7M0.88%
33Pepsico IncorporatedPEP42,905$5.7M0.88%
34United Parcel Service BUPS55,387$5.6M0.86%
35Comcast Corp New Cl ACCZ156,611$5.6M0.86%
36Corteva IncCTVA74,826$5.6M0.86%
37Cardinal HealthCAH31,665$5.3M0.82%
38Merck & Co IncMRK65,906$5.2M0.81%
39Workday Inc Class AWDAY21,619$5.2M0.80%
40McKesson CorpMCK6,849$5.0M0.78%
41Procter & Gamble74271810928,063$4.5M0.69%
42OGE Energy Corp.OGE100,289$4.5M0.69%
43Dollar General Corp25667710538,688$4.4M0.68%
44Costco22160K1054,387$4.3M0.67%
45Market Vectors High-Yield Muni ETF92189H40985,219$4.3M0.66%
46AmgenAMGN13,827$3.9M0.60%
47Vanguard S&P 500 ETF9229083636,630$3.8M0.58%
48Exxon MobilXOM33,674$3.6M0.56%
49Hershey CompanyHSY21,760$3.6M0.56%
50Teradyne, Inc.TER39,680$3.6M0.55%
51SPDR S&P 500 ETFSPY5,659$3.5M0.54%
52Tesla Motors Inc.TSLA10,829$3.4M0.53%
53First Trust Preferred Sec & Inc ETF33739E108190,986$3.4M0.53%
54Wal-Mart StoresWMT34,380$3.4M0.52%
55Vanguard Small Cap ETF92290875114,163$3.4M0.52%
56Cisco Systems IncCSCO46,603$3.2M0.50%
57Alphabet Inc Class CMA18,022$3.2M0.49%
58Brown & Brown IncBRO27,063$3.0M0.46%
59AT&TT-PC102,372$3.0M0.46%
60Vanguard MSCI EAFE ETF92194385850,664$2.9M0.45%
61McDonaldsMCD9,806$2.9M0.44%
62VisaV8,020$2.8M0.44%
63Lilly Eli & CoLLY3,542$2.8M0.43%
64Verizon CommunicationsVZ63,702$2.8M0.43%
65iShares Russell 1000 Value Index46428759813,353$2.6M0.40%
66iShares MSCI EAFE Value Index46428887740,792$2.6M0.40%
67Crown Castle InternationalCCI24,055$2.5M0.38%
68Vanguard Interm-Tm Corp Bd Idx ETF92206C87029,531$2.4M0.38%
69Morgan StanleyMS-PQ17,185$2.4M0.37%
70Chevron CorpCVX16,246$2.3M0.36%
71Paychex IncPAYX15,952$2.3M0.36%
72JPMorgan Ultra-Short Income ETF46641Q83744,272$2.2M0.35%
73AbbVie IncABBV11,970$2.2M0.34%
74Corning IncGLW40,984$2.2M0.33%
75Mondelez International Inc60920710531,094$2.1M0.32%
76Abbott LaboratoriesABT14,708$2.0M0.31%
77Omnicom Group IncOMC27,616$2.0M0.31%
78Auto Data ProcessingADP6,306$1.9M0.30%
79Starbucks CorpSBUX20,655$1.9M0.29%
80Intuit IncINTU2,394$1.9M0.29%
81iShares Barclays Aggregate Bond46428722618,596$1.8M0.29%
82Hubbell Inc CL BHUBB4,343$1.8M0.27%
83Vanguard Mid-Cap ETF9229086296,263$1.8M0.27%
84Waste Management, Inc.94106L1097,386$1.7M0.26%
85Air Prod & Chemicals IncCHRW5,982$1.7M0.26%
86Coca ColaKO23,822$1.7M0.26%
87iShares MSCI EAFE Growth Index46428888514,654$1.6M0.25%
88iShares iBoxx High Yield Corporate Bond ETF46428851320,040$1.6M0.25%
89Emerson ElectricEMR12,101$1.6M0.25%
90Moodys CorpMCO3,108$1.6M0.24%
91Vanguard Div Apprciation9219088447,586$1.6M0.24%
92JPMorgan Ultra-Short Municipal Inc ETF46641Q65430,161$1.5M0.24%
93Vanguard Short-Term Corp Bd Idx ETF92206C40919,111$1.5M0.23%
94The Trade Desk Inc88339J10520,902$1.5M0.23%
95Eaton Corp PLCETN4,152$1.5M0.23%
96BlackRock IncBLK1,404$1.5M0.23%
97T J X Cos Inc87254010911,887$1.5M0.23%
98Intuitive Surgical NewISRG2,697$1.5M0.23%
99Berkshire Hathaway Inc Class ABRK-A2$1.5M0.23%
100Bancfirst Corp OklahomaBANFP11,427$1.4M0.22%
101Powershares QQQIVZ2,558$1.4M0.22%
102Booking Holdings IncBKNG242$1.4M0.22%
103T. Rowe Price Group IncTROW14,234$1.4M0.21%
104Salesforce.com IncCRM5,018$1.4M0.21%
105General Mills Inc37033410425,412$1.3M0.20%
106Honeywell International4385161065,637$1.3M0.20%
107Marsh & McLennan Inc5717481025,900$1.3M0.20%
108StrykerSYK3,142$1.2M0.19%
109NetApp, Inc.NTAP11,657$1.2M0.19%
110Caterpillar IncCAT3,172$1.2M0.19%
111Eversource EnergyES18,426$1.2M0.18%
112Heico CorporationHEI-A3,496$1.1M0.18%
113S&P Global IncSPGI2,165$1.1M0.18%
114Vanguard Intl Divdend92194681012,624$1.1M0.18%
115iShares Russell 2000 Index4642876555,189$1.1M0.17%
116iShares MSCI EAFE Index46428746512,058$1.1M0.17%
117Amdocs LimitedWTW11,672$1.1M0.16%
118Deere & CoDE2,018$1.0M0.16%
119Ecolab IncECL3,764$1.0M0.16%
120iShares Core 1-5 Year USD Bond ETF46432F85920,709$1.0M0.16%
121iShares S&P 500 Grwth4642873099,136$1.0M0.16%
122Texas Instruments Inc8825081044,839$1.0M0.16%
123Franklin Resources IncBEN41,934$1.0M0.15%
124McCormick & CoMKC-V13,084$992,0280.15%
125iShares Russell 2000 Growth Index4642876483,434$981,6430.15%
126Schwab U.S. Dividend Equity ETF80852479737,030$981,3050.15%
127Vanguard Total Stock Market ETF9229083633,119$948,0590.15%
128Unitedhealth Group IncUNH3,001$936,3590.14%
129Union Pacific CorpUNP3,941$906,8300.14%
130Heico Corporation Class AHEI-A3,462$895,7920.14%
131iShares Barclays 1-3 Yr Treas46428745710,578$876,5020.14%
132Zoetis IncZTS5,537$863,5760.13%
133Capital One Financial14040H1053,922$834,4440.13%
134Oracle CorporationORCL-PD3,723$813,9740.13%
135iShares MSCI ACWI ex US Index46428824013,349$813,4880.13%
136Taiwan Semiconductr Adrf8740391003,574$809,4750.13%
137Vanguard Emerging Markets ETF92204285815,877$785,3220.12%
138Clorox CompanyCLX6,447$774,0910.12%
139Schwab U.S. Broad Market ETF80852410232,000$762,5600.12%
140Trane Technologies PLCTT1,692$740,0970.11%
141Illinois Tool Works4523081092,954$730,3760.11%
142Schwab U.S. Large-Cap ETF80852420129,141$712,2200.11%
143iShares S&P MidCap 400 Index46428750711,440$709,5250.11%
144Chubb LimitedCB2,419$700,8320.11%
145Monster Beverage CorpMNST11,061$692,8610.11%
146Donaldson Company IncDCI9,914$687,5350.11%
147Willis Towers Watson PLCWTW2,239$686,2530.11%
148Pinnacle West Capital CpPNW7,521$672,9310.10%
149Raytheon Technologies CoRTX4,586$669,7580.10%
150Edwards Lifesciences CorpEW8,517$666,1140.10%
151Williams Companies, Inc.96945710010,325$648,5130.10%
152Cigna Corp1255231001,923$635,7230.10%
153State Street CorpSTT-PG5,942$631,9620.10%
154Xylem IncXYL4,884$631,7940.10%
155iShares Russell 1000 Growth Index4642876141,486$631,1180.10%
156Wells Fargo9497461017,616$610,2260.09%
157Advanced Micro Devices14040H1054,228$599,9530.09%
158Communication Services Sel Sect SPDR ETF81369Y8525,451$591,6310.09%
159Colgate-Palmolive CoCL6,496$590,5660.09%
160Palantir Technologies IncPLTR4,319$588,8430.09%
161General Electric3696043012,263$582,4730.09%
162WisdomTree MidCap DivWT11,584$580,6150.09%
163Sprouts Farmers Market Inc85208M1023,416$562,4100.09%
164Lam Research CorporationLRCX5,630$548,0890.08%
165Johnson ControlsG515021055,157$544,7440.08%
166Vanguard REIT ETF9229085536,088$542,2140.08%
167Sprott Phys Silver TrustSII43,570$533,2960.08%
168IntercontinentalExchange Group Inc45866F1042,862$525,0910.08%
169Sherwin-Williams Co.SHW1,526$523,9670.08%
170Philip Morris Int'l Inc7181721092,865$521,9640.08%
171ONEOK, Inc.OKE6,316$515,5750.08%
172Amer Electric Pwr Co Inc0255371014,938$512,3660.08%
173PowerShares Nasdaq Internet ETFIVZ9,721$507,5650.08%
174Fedex CorporationFDX2,225$505,7640.08%
175GE Vernova IncGEV941$497,9300.08%
176Vanguard Total Stock Market ETF9229087699,897$490,0000.08%
177Motorola Solutions, IncMSI1,112$467,5510.07%
178Roper Industries IncROP822$465,9420.07%
179Amphenol Corp New0320951014,676$461,7550.07%
180Ameren CorpAEE4,624$444,1380.07%
181Vanguard Information Technology ETF92204A702667$442,8160.07%
182Church & Dwight Co IncCHD4,556$437,8770.07%
183Enterprise Products Partners LP29379210714,000$434,1400.07%
184Equifax IncEFX1,658$430,0350.07%
185iShares S&P 600 Small Cap Index4642878043,922$428,6470.07%
186Vanguard Value ETF9229087442,381$420,9080.07%
187Public Service Enterprise Group7445731064,901$412,5660.06%
188Vanguard FTSE All-World ex-US ETF9220427756,041$406,1040.06%
189PfizerPFE16,537$400,8620.06%
190NextEra Energy Inc.NEE-PW5,773$400,7700.06%
191iShares S&P 500 Value Index4642874082,046$399,9930.06%
192Technology Select SPDR81369Y8031,547$391,9320.06%
193JPMorgan BetaBuilders Japan46641Q2176,303$389,3990.06%
194Boeing CoBA-PA1,849$387,4200.06%
195Nike IncNKE5,382$382,3940.06%
196Parker Hannifin CorpPH547$382,0630.06%
197Invesco CurrencyShares Euro CurrencyFXE3,330$362,2700.06%
198PowerShares Variable Rate PreferredIVZ14,733$360,2340.06%
199iShares Dow Jones Select Dividend Index4642871682,708$359,6490.06%
200Guggenheim S&P 500 Equal Weight ETFIVZ1,969$357,8710.06%
201iShares Russell Midcap Value4642874732,698$356,5130.06%
202Marathon Petroleum CorpMARA2,117$351,6540.05%
203Targa Resources CorpTRGP2,002$348,5080.05%
204Guggenheim EtfIVZ7,135$347,8450.05%
205Fastenal CoFAST8,262$347,0040.05%
206TargetTGT3,493$344,6030.05%
207Gilead Sciences IncGILD3,051$338,3170.05%
208NXP Semiconductors NVNXPI1,546$337,7850.05%
209SS&C Technologies Holdings IncSSNC3,932$325,5690.05%
210Schwab International Equity ETF80852480514,715$325,2010.05%
211Molson Coors Brewing Co BTAP-A6,733$323,7890.05%
212Grainger, W W384802104307$319,3530.05%
213Allstate CorporationCSCO1,564$314,8480.05%
214CH Robinson Worldwide Inc.CHRW3,245$311,3570.05%
215Vanguard Growth ETF922908736696$305,3650.05%
216Netflix IncNFLX227$304,1550.05%
217Intel CorporationINTC13,290$297,7080.05%
218Microchip Technology IncMCHPP4,216$296,6790.05%
219CSX CorpCSX9,086$296,4760.05%
220Tyler Technologies IncTYL500$296,4200.05%
221PPG Industries Inc6935061072,600$295,7500.05%
222Carrier Global CorpCARR3,909$286,1160.04%
223Bank Of New York Mellon Corp0640581003,121$284,4180.04%
224Altria Group IncMCK4,767$279,5070.04%
225iShares Russell Midcap Growth4642874812,000$277,3600.04%
226Wisconsin Energy GroupWEC2,654$276,5460.04%
227Martin Marietta Matr573284106501$275,0280.04%
228Howmet AerospaceHWM1,451$270,0740.04%
229iShares Russell 2000 Value4642888771,710$269,7690.04%
230Southern CompanySOMN2,915$267,7270.04%
231Clarivate PLCCLVT61,740$265,4820.04%
232Calvert International Responsible ETFMS-PQ4,000$260,3950.04%
233Linde PLCLIN553$259,5200.04%
234B O K Financial Cp New05561Q2012,573$251,2010.04%
235iShares S&P MidCap 400 Growth4642876062,728$248,1930.04%
236Financial Select Sector SPDR81369Y6054,676$244,8990.04%
237Synopsys IncSNPS470$240,9590.04%
238Rockwell Automation IncROK721$239,6750.04%
239iShares Dow Jones US Technology4642877211,344$232,8920.04%
240Thermo Fisher Scientific IncTMO574$232,7840.04%
241Consolidated EdisonED2,284$229,1990.04%
242Garmin LtdGRMN1,097$228,9650.04%
243Steris CorpSTE943$226,5270.04%
244iShares Core Dividend Growth ETF46434V6213,536$226,1310.03%
245Markel CorporationMKL112$223,7040.03%
246JPMorgan BetaBuilders Europe46641Q1913,311$223,3600.03%
247SPDR Barclays 1-3 Month T-Bill ETF78468R6632,430$222,9030.03%
248O Reilly Automotive Inc67103H1072,460$221,7190.03%
249Brookfield Infr Prt Lp Lp Int UnitG162521016,568$220,0530.03%
250iShares US Aerospace & Defense4642887601,154$217,7430.03%
251Bristol-Myers Squibb CoCELG-RI4,667$216,0490.03%
252Dimensional US Equity Market ETF25434V4013,221$215,8710.03%
253Goldman Sachs Group IncGSCE303$215,1390.03%
254Vanguard Intmdt-Term Trs ETF92206C7063,520$210,5310.03%
255Post Holdings IncPOST1,111$207,1120.03%
256Novo-Nordisk A-S AdrNONOF2,981$205,7480.03%
257iShares MBS4642885882,189$205,5250.03%
258Gallagher Arthur J & Co363576109638$204,2360.03%
259Northern Trust CorpNTRSO1,607$203,7510.03%
260Cencora IncCOR677$202,9980.03%
261United Rentals IncURI268$202,3510.03%
262LPL Financial Holdings Inc.50212V100535$200,6080.03%
263Zimmer Biomet Holdings Inc.ZBH2,194$200,1600.03%
264Ready Capital CorpRC-PE23,600$103,1340.02%
265LightPath Technologies IncLPTH32,295$99,4680.02%
266Leslie's Inc52706410922,205$9,3230.00%
267Renalytix PLCRENXF10,000$1,8500.00%