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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

Curbstone Financial Management Corp

Quarter ended Q2 2025 · Filed July 29, 2025 · Accession 0001608057-25-000008

Total Value
$487.4M
Positions
200
Other Managers
0
Confidential Omitted
No
View on SEC.gov

Holdings (200)

#IssuerTicker / CUSIPSharesValue% of Filing
1SPDR Bloomberg Inter Floating78468r2001,118,146$34.5M7.07%
2SPDR S&P Mid Cap 400 ETF (MDY)MDY30,806$17.5M3.58%
3Schwab International Equity ET808524805784,875$17.3M3.56%
4Vanguard S&P 500 ETF (VOO)92290836328,420$16.1M3.31%
5Vanguard Short Ter Corp Bd ETF92206c409200,116$15.9M3.26%
6Schwab US Large Cap Growth ETF808524300526,903$15.4M3.16%
7Schwab US Mid Cap ETF (SCHM)808524508493,789$13.9M2.84%
8Apple Inc (AAPL)AAPL63,079$12.9M2.66%
9Schwab US Dividend Equity ETF808524797444,136$11.8M2.41%
10Microsoft Corp (MSFT)MSFT22,490$11.2M2.30%
11Schwab US Small Cap ETF (SCHA)808524607317,292$8.0M1.65%
12Vanguard Intermediate Corp ETF92206c87096,482$8.0M1.64%
13Amazon Inc (AMZN)AMZN36,142$7.9M1.63%
14Schwab US Broad Mkt ETF (SCHB)808524102325,634$7.8M1.59%
15Invesco SP 500 Equal Weight ETIVZ38,233$6.9M1.43%
16Alphabet Inc Class C (GOOG)GOOG38,725$6.9M1.41%
17Schwab US Large Cap ETF (SCHX)808524201272,680$6.7M1.37%
18Barings Corporate Investors (MMCI297,728$6.4M1.32%
19JP Morgan Chase & Co (JPM)VYLD22,118$6.4M1.32%
20IShares TIPS ETF (TIP)46428717652,504$5.8M1.19%
21Cisco Systems (CSCO)CSCO75,560$5.2M1.08%
22Schwab US TIPS ETF (SCHP)808524870189,670$5.1M1.04%
23Exxon Mobil Corp (XOM)XOM41,068$4.4M0.91%
24TJX Companies (TJX)87254010934,184$4.2M0.87%
25IShares Short Term Nat'l Muni46428815837,600$4.0M0.82%
26IShares Nat'l Muni Bond ETF (M46428841437,842$4.0M0.81%
27KKR & Co (KKR)KKRT29,718$4.0M0.81%
28Johnson & Johnson (JNJ)JNJ25,712$3.9M0.81%
29VISA Inc CL A (V)V11,060$3.9M0.81%
30Berkshire Hathaway B (BRKB)BRK-A8,028$3.9M0.80%
31RTX Corp (RTX)RTX26,168$3.8M0.78%
32iShares Preferred Income Sec E464288687120,163$3.7M0.76%
33Check Point Software (CHKP)CHKP16,218$3.6M0.74%
34SPDR S&P 500 ETF (SPY)SPY5,703$3.5M0.72%
35Vanguard Small Cap Growth ETF92290859512,670$3.5M0.72%
36IShares MSCI EAFE ETF (EFA)46428746538,533$3.4M0.71%
37Procter & Gamble (PG)74271810921,468$3.4M0.70%
38iShares 1-5 Yr Inv Grade Corp46428864663,890$3.4M0.69%
39Abbott Labs (ABT)ABLZF23,674$3.2M0.66%
40Pepsico (PEP)PEP23,226$3.1M0.63%
41Verisk Analytics Inc Cl A (VRSVRSK9,570$3.0M0.61%
42Eli Lilly (LLY)LLY3,764$2.9M0.60%
43Hyster-Yale Inc (HY)HY73,490$2.9M0.60%
44Schwab US Aggregate Bond ETF (808524839124,100$2.9M0.59%
45Nvidia (NVDA)NVDA17,616$2.8M0.57%
46Schwab Emerging Mkts Equity ET80852470686,850$2.6M0.54%
47Nacco Industries Cl A (NC)62957910357,542$2.5M0.52%
48Hamilton Beach Brands Class AHBB136,898$2.4M0.50%
49Home Depot Inc (HD)HD6,630$2.4M0.50%
50Honeywell International Inc (H43851610610,380$2.4M0.50%
51Oracle Corp (ORCL)ORCL-PD11,036$2.4M0.50%
52Amplify Cybersecurity ETF (HAC03210866427,900$2.4M0.49%
53Autodesk Inc (ADSK)ADSK7,720$2.4M0.49%
54iShares CORE S&P 500 ETF IV4642872003,812$2.4M0.49%
55Vanguard Extended Market ETF (92290865211,870$2.3M0.47%
56Aerovironment (AVAV)AVAV7,770$2.2M0.45%
57Sysco Corp (SYY)SYY29,044$2.2M0.45%
58Walt Disney Corp (DIS)25468710617,446$2.2M0.44%
59Abbvie Inc (ABBV)ABBV11,217$2.1M0.43%
60IShares Global 100 ETF (IOO)46428757218,880$2.0M0.42%
61Sprouts Farmers Markets (SFM)85208m10212,130$2.0M0.41%
62Chevron Corp (CVX)CVX13,510$1.9M0.40%
63NextEra Energy (NEE)NEE-PW27,548$1.9M0.39%
64Merck & Co (MRK)MRK23,612$1.9M0.38%
65Invesco Water Resources ETF (PIVZ26,700$1.9M0.38%
66Zoetis Inc (ZTS)ZTS11,610$1.8M0.37%
67US Bancorp (USB)USB-PS39,982$1.8M0.37%
68Coca-Cola (KO)KO25,196$1.8M0.37%
69Phillips 66 (PSX)PSX14,554$1.7M0.36%
70Weyerhauser (WY)WY63,580$1.6M0.34%
71Palantir Technologies Cl A (PLPLTR11,840$1.6M0.33%
72Alphabet Inc Class A (GOOGL)GOOG9,048$1.6M0.33%
73McDonalds (MCD)MCD5,344$1.6M0.32%
74Broadcom Inc (AVGO)AVGO5,650$1.6M0.32%
75Carrier Global Corp (CARR)CARR21,248$1.6M0.32%
76Bank Montreal (BMO)06367110113,834$1.5M0.31%
77Ulta Beauty Inc (ULTA)ULTA3,250$1.5M0.31%
78Colgate Palmolive (CL)CL16,710$1.5M0.31%
79Automatic Data Processing (ADPADP4,900$1.5M0.31%
80Walmart Inc (WMT)WMT15,168$1.5M0.30%
81Verizon Communications (VZ)VZ34,108$1.5M0.30%
82Comcast Cl A (CMCSA)CCZ41,210$1.5M0.30%
83Hologic Inc (HOLX)HOLX22,146$1.4M0.30%
84iShares S&P 100 ETF (OEF)4642871014,660$1.4M0.29%
85Bank of America (BAC)06050510428,512$1.3M0.28%
86Trex Co (TREX)TREX24,620$1.3M0.27%
87Illinois Tool Works (ITW)4523081095,344$1.3M0.27%
88Pfizer Inc (PFE)PFE52,795$1.3M0.26%
89Robo Global Robotics & Automat30150570720,780$1.2M0.25%
90WD 40 CO (WDFC)WDFC5,346$1.2M0.25%
91Texas Instruments Inc (TXN)8825081045,816$1.2M0.25%
92CSG Systems (CSGS)12634910918,100$1.2M0.24%
93SPDR Portfolio S&P400 Mid Cap78464a84721,700$1.2M0.24%
94Smucker JM Co (SJM)83269640511,898$1.2M0.24%
95Invesco Bulletshares 2025 CorpIVZ55,256$1.1M0.23%
96IShares 0-5 Year TIPS ETF (STI46429b74711,050$1.1M0.23%
97Intel Corp (INTC)INTC50,449$1.1M0.23%
98Fastenal Co (FAST)FAST26,814$1.1M0.23%
99AFLAC INC (AFL)AFL10,650$1.1M0.23%
100GE Aerospace (GE)3696043014,262$1.1M0.23%
101Salesforce Inc (CRM)CRM3,976$1.1M0.22%
102Taiwan Semiconductor Manufactu8740391004,748$1.1M0.22%
103Starbucks Corp (SBUX)SBUX11,676$1.1M0.22%
104CVS Health Corp (CVS)CVS15,478$1.1M0.22%
105Charles Schwab US REIT (SCHH)80852484749,332$1.0M0.21%
106United Parcel Service Inc (UPSUPS10,272$1.0M0.21%
107Sonoco Products (SON)83549510223,610$1.0M0.21%
108Corcept Therapeutics (CORT)CORT13,880$1.0M0.21%
109Blackstone Inc (BX)BX6,808$1.0M0.21%
110Target (TGT)TGT10,168$1.0M0.21%
111Fair Isaac Corp (FICO)FICO548$1.0M0.21%
112Barings Participation InvestorMPV48,466$974,6510.20%
113SPDR S&P Dividend ETF (SDY)78464a7637,150$970,4690.20%
114Unilever PLC (UL)UNLYF15,778$965,1400.20%
115IBM Corp (IBM)INTR3,208$945,6540.19%
116Trade Desk Inc (TTD)88339j10512,820$922,9120.19%
117Chewy Cl A (CHWY)CHWY21,540$918,0350.19%
118State Street Corp (STT)STT-PG8,550$909,2070.19%
119Bank New York Mellon (BK)0640581009,750$888,3220.18%
120Vanguard Mid Cap ETF (VO)9229086293,170$887,0610.18%
121Bristol Myers (BMY)CELG-RI18,934$876,4550.18%
122Vanguard Real Estate ETF (VNQ)9229085539,764$869,5820.18%
123Vanguard FTSE All World ex US92204277512,608$847,5100.17%
124Danaher Corp (DHR)2358511024,266$842,7060.17%
1253M CO (MMM)MMM5,518$840,0600.17%
126American Funds Income Fd Of Am45332010331,021$826,4110.17%
127Garmin Ltd (GRMN)GRMN3,936$821,5220.17%
128Stryker Corp (SYK)SYK2,074$820,5370.17%
129Morgan Stanley (MS)MS-PQ5,676$799,5210.16%
130IShares MSCI Ireland ETF (EIRL46429b50711,790$790,8730.16%
131IShares Int'l Select Div ETF (46428844822,510$776,8200.16%
132General Motors Co (GM)37045v10015,764$775,7460.16%
133Regions Financial (RF)RF-PF32,800$771,4560.16%
134Costco (COST)COST772$764,2340.16%
135Lowes Co (LOW)5486611073,342$741,4900.15%
136Hormel Foods Corp (HRL)HRL23,751$718,4730.15%
137Eaton Corporation PLC (ETN)ETN2,004$715,4080.15%
138Appfolio Cl A (APPF)APPF3,090$711,5650.15%
139GE Vernova Inc (GEV)GEV1,336$706,9440.15%
140iShares Muni Bd 2029 (IBMR)46436e16327,970$705,6830.14%
141Globalstar Inc (GSAT)GSAT29,200$687,6600.14%
142Vanguard Total Stock Market ET9229087692,214$672,9990.14%
143Norfolk Southern (NSC)6558441082,614$669,1060.14%
144Invesco S&P500 High Div Low VoIVZ14,000$665,8400.14%
145AT&T INCT-PC22,186$642,0630.13%
146Tyler Technologies Inc (TYL)TYL1,080$640,2670.13%
147Otis Worldwide (OTIS)OTIS6,448$638,4810.13%
148Landstar Corp (LSTR)LSTR4,556$633,3750.13%
149iShares iBonds 2026 Corp ETF (46435gaa024,050$583,2120.12%
150Emerson Electric Co (EMR)EMR4,232$564,2530.12%
151Linde PLC (LIN)LIN1,194$560,2010.11%
152Amgen Inc (AMGN)AMGN2,004$559,5370.11%
153Cincinnati Financial (CINF)1720621013,750$558,4500.11%
154Interparfums (IPAR)INTR4,240$556,7540.11%
155Insulet Corp (PODD)PODD1,764$554,2140.11%
156Crowdstrike Hldgs Inc Cl A (CRCRWD1,088$554,1290.11%
157Thermo Fisher Scientific (TMO)TMO1,366$553,8580.11%
158Vericel Corp (VCEL)VCEL12,920$549,7460.11%
159AMCOR PLC F (AMCR)AMCCF59,768$549,2680.11%
160Accenture PLC Ireland Class AACN1,818$543,3820.11%
161Novartis ADR (NVS)NVSEF4,444$537,7680.11%
162Vanguard Total World Stock ETF9220427424,180$537,2140.11%
163Korn Ferry (KFI)KFY7,300$535,3090.11%
164Deere & Co (DE)DE1,038$527,8130.11%
165BWX Technologies Inc (BWXT)BWXT3,650$525,8190.11%
166Union Pacific Corp (UNP)UNP2,278$524,1220.11%
167iShares USA ESG Select (SUSA)4642888024,116$521,7030.11%
168iShares Intrm Govt/Credit Bond4642886124,866$519,6400.11%
169Analog Devices (ADI)ADI2,164$515,0750.11%
170IShares MSCI Canada ETF IV (EW46428650911,080$511,8960.11%
171Caterpillar Inc (CAT)CAT1,312$509,3320.10%
172SPDR Portfolio S&P 500 ETF (SP78464a8547,000$508,8300.10%
173Lemaitre Vascular (LMAT)LMAT6,050$502,4520.10%
174Ingredion (INGR)INGR3,700$501,7940.10%
175Advanced Micro Devices (AMD)AMD3,476$493,3110.10%
176Boeing Co (BA)BA-PA2,336$489,4620.10%
177Air Products & Chemicals (APD)AIIR1,730$487,9640.10%
178Vanguard High Dividend Yield E9219464063,550$473,2500.10%
179Vanguard Muni Bond Tax Exempt9229077469,650$473,1390.10%
180SPDR S&P Int'l Dividend ETF (D78463x77211,028$464,8300.10%
181General Mills Inc (GIS)3703341048,664$448,8820.09%
182Medtronic PLC (MDT)MDT5,044$439,6850.09%
183Gilead Sciences Inc (GILD)GILD3,940$436,8280.09%
184LKQ Corp (LKQ)LKQ11,750$434,8670.09%
185Universal Display (OLED)OLED2,810$434,0330.09%
186T Rowe Price Group (TROW)TROW4,450$429,4250.09%
187JPMorgan UltraShort Muni Incom46641q6548,250$420,0900.09%
188PNC Fin'l Services (PNC)6934751052,228$415,3440.09%
189PPL Corp (PPL)PPLC12,222$414,2040.08%
190SPDR Intermediate Corp Bond ET78464a37512,300$413,0340.08%
191Qualcom Corp (QCOM)QCOM2,576$410,2540.08%
192Graco Inc (GGG)GGG4,700$404,0590.08%
193General Dynamics Corp (GD)GD1,382$403,0740.08%
194Electronic Arts (EA)EA2,520$402,4440.08%
195TD Synnex (SNX)SNX2,950$400,3150.08%
196D-Wave Quantum Inc (QBTS)QBTS23,800$348,4320.07%
197Sealsq Corp (LAES)LAES37,000$149,1100.03%
198Primary Hydrogen Corp (HNATF)74167W10320,000$5,8440.00%
199Scandium Mining (SCYYF)80600l109236,000$3,1860.00%
200Airborn Wireless (ABWN)AIIR18,021,394$00.00%