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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 Q3 2025 · Filed November 5, 2025 · Accession 0001330463-25-000007

Total Value
$685.9M
Positions
263
Other Managers
0
Confidential Omitted
No
View on SEC.gov

Holdings (263)

#IssuerTicker / CUSIPSharesValue% of Filing
1MicrosoftMSFT85,697$44.4M6.47%
2Schwab Fundemental US Small Company ETF8085247631,034,807$32.2M4.70%
3AppleAAPL124,413$31.7M4.62%
4Alphabet Inc Class AGOOG75,053$18.2M2.66%
5Amazon.com Inc.AMZN71,096$15.6M2.28%
6American ExpressAXP38,571$12.8M1.87%
7Berkshire Hathaway Inc Class BBRK-A25,340$12.7M1.86%
8Charles Schwab CorpSCHW-PJ132,033$12.6M1.84%
9Schwab Fundamental US Large Company ETF808524771476,933$12.5M1.83%
10JPMorgan Ultra-Short Income ETF46641Q837241,476$12.3M1.79%
11Johnson & JohnsonJNJ64,672$12.0M1.75%
12MastercardMA18,670$10.6M1.55%
13SyscoSYY115,505$9.5M1.39%
14iShares S&P 500 Index46428720014,182$9.5M1.38%
15KLA CorporationKLAC8,713$9.4M1.37%
16JP Morgan Chase & CoVYLD29,401$9.3M1.35%
17Lockheed Martin CorpLMT16,765$8.4M1.22%
18Cummins IncCMI19,757$8.3M1.22%
19Broadcom LtdAVGO25,101$8.3M1.21%
20QualcommQCOM49,576$8.2M1.20%
21MedtronicMDT82,499$7.9M1.15%
22Accenture PLCACN30,811$7.6M1.11%
23US BancorpUSB-PS151,003$7.3M1.06%
24Fiserv IncFISV55,094$7.1M1.04%
25Home DepotHD17,246$7.0M1.02%
26Meta Platforms Inc Class AMETA9,423$6.9M1.01%
27Laboratory Corp of America Holdings50540R40923,658$6.8M0.99%
28NVIDIA CorpNVDA35,892$6.7M0.98%
29Lowes Companies54866110726,513$6.7M0.97%
30IBMINTR23,587$6.7M0.97%
31Adobe Systems IncADBE18,606$6.6M0.96%
32Walt Disney Co25468710656,403$6.5M0.94%
33Pepsico IncorporatedPEP44,356$6.2M0.91%
34Workday Inc Class AWDAY25,269$6.1M0.89%
35Teradyne, Inc.TER42,697$5.9M0.86%
36Tesla Motors Inc.TSLA12,058$5.4M0.78%
37JPMorgan Ultra-Short Municipal Inc ETF46641Q654104,135$5.3M0.77%
38Corteva IncCTVA77,599$5.2M0.77%
39Anheuser-Busch Inbev SA ADRBUDFF87,058$5.2M0.76%
40Comcast Corp New Cl ACCZ161,974$5.1M0.74%
41McKesson CorpMCK6,575$5.1M0.74%
42United Parcel Service BUPS58,604$4.9M0.71%
43OGE Energy Corp.OGE100,289$4.6M0.68%
44Merck & Co IncMRK54,867$4.6M0.67%
45AmgenAMGN15,934$4.5M0.66%
46First Trust Preferred Sec & Inc ETF33739E108236,910$4.3M0.63%
47Procter & Gamble74271810927,839$4.3M0.62%
48Alphabet Inc Class CGOOG17,234$4.2M0.61%
49Dollar General Corp25667710539,727$4.1M0.60%
50Hershey CompanyHSY21,900$4.1M0.60%
51Vanguard S&P 500 ETF9229083636,678$4.1M0.60%
52Costco22160K1054,297$4.0M0.58%
53Cardinal HealthCAH25,218$4.0M0.58%
54iShares Russell 1000 Value Index46428759818,542$3.8M0.55%
55Exxon MobilXOM32,898$3.7M0.54%
56Market Vectors High-Yield Muni ETF92189H40970,255$3.6M0.52%
57SPDR S&P 500 ETFSPY5,312$3.5M0.52%
58Vanguard Small Cap ETF92290875113,909$3.5M0.52%
59Wal-Mart StoresWMT33,586$3.5M0.50%
60Cisco Systems IncCSCO45,016$3.1M0.45%
61AT&TT-PC101,055$2.9M0.42%
62McDonaldsMCD9,209$2.8M0.41%
63VisaV8,007$2.7M0.40%
64Morgan StanleyMS-PQ17,171$2.7M0.40%
65Verizon CommunicationsVZ61,259$2.7M0.39%
66AbbVie IncABBV11,498$2.7M0.39%
67iShares MSCI EAFE Value Index46428887739,149$2.7M0.39%
68Amdocs LimitedDOX32,186$2.6M0.39%
69Lilly Eli & CoLLY3,457$2.6M0.38%
70The Trade Desk Inc88339J10552,987$2.6M0.38%
71Elevance Health IncELV7,891$2.6M0.37%
72Crown Castle InternationalCCI26,356$2.5M0.37%
73Chevron CorpCVX16,008$2.5M0.36%
74Brown & Brown IncBRO26,463$2.5M0.36%
75Vanguard MSCI EAFE ETF92194385841,266$2.5M0.36%
76Vanguard Interm-Tm Corp Bd Idx ETF92206C87028,840$2.4M0.35%
77Corning IncGLW28,175$2.3M0.34%
78Omnicom Group IncOMC27,343$2.2M0.33%
79Powershares QQQIVZ3,675$2.2M0.32%
80Paychex IncPAYX16,101$2.0M0.30%
81Mondelez International Inc60920710531,526$2.0M0.29%
82Schwab U.S. Dividend Equity ETF80852479769,659$1.9M0.28%
83Hubbell Inc CL BHUBB4,343$1.9M0.27%
84Auto Data ProcessingADP6,269$1.8M0.27%
85T J X Cos Inc87254010911,900$1.7M0.25%
86Vanguard Mid-Cap ETF9229086295,851$1.7M0.25%
87Air Prod & Chemicals IncAIIR6,192$1.7M0.25%
88Abbott LaboratoriesABT12,596$1.7M0.25%
89iShares MSCI EAFE Growth Index46428888514,629$1.7M0.24%
90Vanguard Div Apprciation9219088447,601$1.6M0.24%
91iShares iBoxx High Yield Corporate Bond ETF46428851320,161$1.6M0.24%
92Intuit IncINTU2,392$1.6M0.24%
93iShares Barclays Aggregate Bond46428722616,250$1.6M0.24%
94Waste Management, Inc.94106L1097,363$1.6M0.24%
95BlackRock IncBLK1,394$1.6M0.24%
96Emerson ElectricEMR11,906$1.6M0.23%
97Eaton Corp PLCETN4,164$1.6M0.23%
98Vanguard Short-Term Corp Bd Idx ETF92206C40918,955$1.5M0.22%
99Berkshire Hathaway Inc Class ABRK-A2$1.5M0.22%
100Moodys CorpMCO3,108$1.5M0.22%
101T. Rowe Price Group IncTROW14,177$1.5M0.21%
102Caterpillar IncCAT3,036$1.4M0.21%
103Bancfirst Corp OklahomaBANFP11,427$1.4M0.21%
104Coca ColaKO21,699$1.4M0.21%
105Eversource EnergyES19,711$1.4M0.20%
106Pinnacle West Capital CpPNW15,582$1.4M0.20%
107NetApp, Inc.NTAP11,589$1.4M0.20%
108Starbucks CorpSBUX16,192$1.4M0.20%
109General Mills Inc37033410426,523$1.3M0.19%
110iShares MSCI EAFE Index46428746514,227$1.3M0.19%
111Booking Holdings IncBKNG239$1.3M0.19%
112iShares Russell 2000 Index4642876555,078$1.2M0.18%
113Honeywell International4385161065,621$1.2M0.17%
114Intuitive Surgical NewISRG2,644$1.2M0.17%
115StrykerSYK3,133$1.2M0.17%
116Salesforce.com IncCRM4,859$1.2M0.17%
117Heico CorporationHEI-A3,496$1.1M0.16%
118iShares S&P 500 Grwth4642873099,193$1.1M0.16%
119Marsh & McLennan Inc5717481025,496$1.1M0.16%
120Communication Services Sel Sect SPDR ETF81369Y8529,329$1.1M0.16%
121Vanguard Intl Divdend92194681012,228$1.1M0.16%
122iShares Russell 2000 Growth Index4642876483,354$1.1M0.16%
123S&P Global IncSPGI2,165$1.1M0.15%
124Ecolab IncECL3,732$1.0M0.15%
125Taiwan Semiconductr Adrf8740391003,635$1.0M0.15%
126Franklin Resources IncBEN41,511$960,1500.14%
127Oracle CorporationORCL-PD3,413$960,0750.14%
128Deere & CoDE2,018$922,7500.13%
129Unitedhealth Group IncUNH2,589$894,1370.13%
130Heico Corporation Class AHEI-A3,462$879,6590.13%
131Texas Instruments Inc8825081044,777$877,8480.13%
132iShares Barclays 1-3 Yr Treas46428745710,503$871,3380.13%
133iShares Core 1-5 Year USD Bond ETF46432F85917,824$870,5660.13%
134Vanguard Total Stock Market ETF9229087692,647$868,6800.13%
135iShares MSCI ACWI ex US Index46428824013,349$867,8180.13%
136Capital One Financial14040H1054,072$865,6250.13%
137Union Pacific CorpUNP3,625$856,9290.12%
138McCormick & CoMKC-V12,629$845,0060.12%
139Vanguard Emerging Markets ETF92204285814,911$807,9280.12%
140Schwab U.S. Broad Market ETF80852410231,250$803,4370.12%
141Raytheon Technologies CoRTX4,723$790,4500.12%
142Donaldson Company IncDCI9,617$787,1510.11%
143Palantir Technologies IncPLTR4,289$782,5020.11%
144Lam Research CorporationLRCX5,774$773,1380.11%
145Clorox CompanyCLX6,245$770,0080.11%
146Willis Towers Watson PLCWTW2,224$768,2800.11%
147Zoetis IncZTS5,186$758,9430.11%
148Illinois Tool Works4523081092,907$758,0290.11%
149iShares S&P MidCap 400 Index46428750711,365$741,6850.11%
150Trane Technologies PLCTT1,732$730,8340.11%
151Xylem IncXYL4,777$704,6070.10%
152State Street CorpSTT-PG5,986$694,5460.10%
153Sprott Phys Silver TrustSII43,970$690,3290.10%
154Advanced Micro DevicesAMD4,253$688,0920.10%
155General Electric3696043012,276$684,6660.10%
156WisdomTree MidCap DivWT13,012$680,5710.10%
157Monster Beverage CorpMNST9,943$669,2630.10%
158iShares Russell 1000 Growth Index4642876141,410$660,7040.10%
159iShares Russell Midcap Value4642874734,703$656,9970.10%
160Edwards Lifesciences CorpEW8,372$651,0900.09%
161Chubb LimitedCB2,272$641,2720.09%
162Wells Fargo9497461017,276$609,9190.09%
163Schwab U.S. Large-Cap ETF80852420122,594$595,1390.09%
164Johnson ControlsG515021055,279$580,4560.08%
165Amphenol Corp New0320951014,676$578,6550.08%
166GE Vernova IncGEV941$578,6200.08%
167Cigna Corp1255231001,924$554,7560.08%
168Colgate-Palmolive CoCL6,923$553,4640.08%
169Vanguard REIT ETF9229085535,931$542,2630.08%
170Amer Electric Pwr Co Inc0255371014,788$538,6500.08%
171PowerShares Nasdaq Internet ETFIVZ9,621$537,1650.08%
172Motorola Solutions, IncMSI1,159$529,9990.08%
173Sherwin-Williams Co.SHW1,507$521,8130.08%
174Ameren CorpAEE4,624$482,7150.07%
175IntercontinentalExchange Group Inc45866F1042,812$473,7650.07%
176Fedex CorporationFDX1,996$470,6760.07%
177iShares S&P 600 Small Cap Index4642878043,929$466,9870.07%
178Intel CorporationINTC13,900$466,3630.07%
179Vanguard Information Technology ETF92204A702620$463,0890.07%
180Vanguard FTSE All-World ex-US ETF9220427756,306$450,0610.07%
181NextEra Energy Inc.NEE-PW5,926$447,4190.07%
182CH Robinson Worldwide Inc.CHRW3,370$446,2600.07%
183Vanguard Value ETF9229087442,383$444,5900.06%
184Philip Morris Int'l Inc7181721092,736$443,9120.06%
185Technology Select SPDR81369Y8031,540$434,3020.06%
186PfizerPFE16,850$429,3390.06%
187Williams Companies, Inc.9694571006,742$427,1050.06%
188Equifax IncEFX1,658$425,3260.06%
189iShares S&P 500 Value Index4642874082,045$422,4160.06%
190Marathon Petroleum CorpMARA2,182$420,5580.06%
191JPMorgan BetaBuilders Japan46641Q2176,303$418,0140.06%
192Roper Industries IncROP822$409,9230.06%
193Church & Dwight Co IncCHD4,556$399,2420.06%
194Boeing CoBA-PA1,849$399,0690.06%
195Public Service Enterprise Group7445731064,695$391,8440.06%
196iShares Dow Jones Select Dividend Index4642871682,708$384,8060.06%
197Guggenheim S&P 500 Equal Weight ETFIVZ1,976$374,9540.05%
198Netflix IncNFLX312$374,0630.05%
199Sprouts Farmers Market Inc85208M1023,434$373,6190.05%
200Fastenal CoFAST7,562$370,8400.05%
201Guggenheim EtfIVZ7,135$363,4960.05%
202Nike IncNKE5,064$353,1740.05%
203Gilead Sciences IncGILD3,119$346,2250.05%
204SS&C Technologies Holdings IncSSNC3,862$342,7910.05%
205Bank Of New York Mellon Corp0640581003,134$341,4910.05%
206PowerShares Variable Rate PreferredIVZ13,600$335,9440.05%
207NXP Semiconductors NVNXPI1,470$334,7630.05%
208Parker Hannifin CorpPH439$332,8270.05%
209Vanguard Growth ETF922908736673$323,1690.05%
210CSX CorpCSX9,086$322,6430.05%
211Allstate CorporationALL-PJ1,494$320,6870.05%
212Enterprise Products Partners LP29379210710,000$312,7000.05%
213Martin Marietta Matr573284106494$311,3580.05%
214ONEOK, Inc.OKE4,206$306,9110.04%
215Wisconsin Energy GroupWEC2,654$304,1210.04%
216Molson Coors Brewing Co BTAP-A6,683$302,4050.04%
217iShares Russell 2000 Value4642888771,676$296,3330.04%
218Grainger, W W384802104307$292,5580.04%
219B O K Financial Cp New05561Q2012,573$286,7350.04%
220iShares Russell Midcap Growth4642874812,012$286,5280.04%
221Goldman Sachs Group IncGSCE359$285,9030.04%
222Thermo Fisher Scientific IncTMO588$285,1910.04%
223Howmet AerospaceHWM1,440$282,5710.04%
224Schwab International Equity ETF80852480512,038$280,2440.04%
225PPG Industries Inc6935061072,600$273,2860.04%
226Calvert International Responsible ETFMS-PQ4,000$272,9210.04%
227iShares US Aerospace & Defense4642887601,299$271,9420.04%
228Microchip Technology IncMCHPP4,216$270,7510.04%
229Southern CompanySOMN2,851$270,2760.04%
230Garmin LtdGRMN1,097$270,1030.04%
231iShares S&P MidCap 400 Growth4642876062,728$261,5870.04%
232Tyler Technologies IncTYL500$261,5800.04%
233iShares Dow Jones US Technology4642877211,320$258,5610.04%
234United Rentals IncURI268$256,6530.04%
235SPDR S&P Biotech ETF78464A8702,557$256,2120.04%
236Rockwell Automation IncROK721$252,2010.04%
237Financial Select Sector SPDR81369Y6054,677$251,9970.04%
238Targa Resources CorpTRGP1,502$251,6450.04%
239Synopsys IncSNPS499$246,2010.04%
240Carrier Global CorpCARR4,090$244,1860.04%
241Zimmer Biomet Holdings Inc.ZBH2,474$243,7350.04%
242Dimensional US Equity Market ETF25434V4013,221$233,3290.03%
243O Reilly Automotive Inc67103H1072,145$231,2520.03%
244JPMorgan BetaBuilders Europe46641Q1913,311$230,4780.03%
245Consolidated EdisonED2,284$229,5870.03%
246ASML Holding NV ADRASMLF237$229,4370.03%
247Linde PLCLIN477$226,6390.03%
248Post Holdings IncPOST1,111$223,2330.03%
249Bank of Montreal (USA)0636711011,685$219,4710.03%
250Hannon Armstrong Sustainable Infrastructure Capital Inc41068X1007,128$218,8430.03%
251AutoZone IncAZO50$214,5120.03%
252Brookfield Infr Prt Lp Lp Int UnitG162521016,483$213,2510.03%
253Northern Trust CorpNTRSO1,552$208,8990.03%
254Invesco KBW Bank ETFIVZ2,662$208,1950.03%
255iShares S&P SmallCap 600 Grwth Idx4642878871,469$207,8630.03%
256Bristol-Myers Squibb CoCELG-RI4,533$204,4510.03%
257iShares Core Dividend Growth ETF46434V6212,998$204,1040.03%
258Steris CorpSTE819$202,6530.03%
259American Fin Group OH0259321041,378$200,8020.03%
260LightPath Technologies IncLPTH25,000$198,2500.03%
261Clarivate PLCCLVT26,750$102,4520.01%
262Ready Capital CorpRC-PE24,289$94,0020.01%
263Renalytix PLCRENXF10,000$2,6300.00%