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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 Q4 2025 · Filed January 23, 2026 · Accession 0001608057-26-000002

Total Value
$522.7M
Positions
201
Other Managers
0
Confidential Omitted
No
View on SEC.gov

Holdings (201)

#IssuerTicker / CUSIPSharesValue% of Filing
1SPDR Bloomberg Inter Floating78468r2001,257,076$38.6M7.39%
2Schwab International Equity ET808524805814,205$19.6M3.74%
3SPDR S&P Mid Cap 400 ETF (MDY)MDY31,318$18.9M3.61%
4Apple Inc (AAPL)AAPL62,087$16.9M3.23%
5Vanguard Short Ter Corp Bd ETF92206c409210,916$16.8M3.22%
6Vanguard S&P 500 ETF (VOO)92290836326,452$16.6M3.17%
7Schwab US Large Cap Growth ETF808524300506,263$16.5M3.16%
8Schwab US Mid Cap ETF (SCHM)808524508497,949$15.0M2.86%
9Schwab US Dividend Equity ETF808524797490,186$13.4M2.57%
10Alphabet Inc Class C (GOOG)GOOG35,547$11.2M2.13%
11Microsoft Corp (MSFT)MSFT21,874$10.6M2.02%
12Vanguard Intermediate Corp ETF92206c870125,952$10.5M2.02%
13Schwab US Small Cap ETF (SCHA)808524607322,202$9.2M1.76%
14Amazon Inc (AMZN)AMZN34,972$8.1M1.54%
15Schwab US Broad Mkt ETF (SCHB)808524102303,352$8.0M1.52%
16Schwab US Large Cap ETF (SCHX)808524201279,240$7.5M1.44%
17Invesco SP 500 Equal Weight ETIVZ38,357$7.3M1.41%
18JP Morgan Chase & Co (JPM)VYLD22,184$7.1M1.37%
19IShares TIPS ETF (TIP)46428717653,604$5.9M1.13%
20Cisco Systems (CSCO)CSCO74,862$5.8M1.10%
21Johnson & Johnson (JNJ)JNJ25,870$5.4M1.02%
22Barings Corporate Investors (MMCI294,084$5.3M1.02%
23Schwab US TIPS ETF (SCHP)808524870197,270$5.2M1.00%
24TJX Companies (TJX)87254010933,424$5.1M0.98%
25Exxon Mobil Corp (XOM)XOM40,064$4.8M0.92%
26RTX Corp (RTX)RTX25,338$4.6M0.89%
27JPMorgan BetaBuilders Europe E46641Q19162,830$4.6M0.88%
28IShares Nat'l Muni Bond ETF (M46428841441,842$4.5M0.86%
29SPDR S&P 500 ETF (SPY)SPY6,499$4.4M0.85%
30IShares Short Term Nat'l Muni46428815840,260$4.3M0.82%
31Berkshire Hathaway B (BRKB)BRK-A8,388$4.2M0.81%
32VISA Inc CL A (V)V11,132$3.9M0.75%
33IShares MSCI EAFE ETF (EFA)46428746539,833$3.8M0.73%
34Vanguard Small Cap Growth ETF92290859512,540$3.8M0.72%
35iShares Preferred Income Sec E464288687119,393$3.7M0.71%
36Eli Lilly (LLY)LLY3,392$3.6M0.70%
37Nvidia (NVDA)NVDA19,408$3.6M0.69%
38Schwab US Aggregate Bond ETF (808524839154,450$3.6M0.69%
39KKR & Co (KKR)KKRT28,088$3.6M0.69%
40Pepsico (PEP)PEP23,228$3.3M0.64%
41iShares 1-5 Yr Inv Grade Corp46428864662,190$3.3M0.63%
42Procter & Gamble (PG)74271810921,440$3.1M0.59%
43Alphabet Inc Class A (GOOGL)GOOG9,584$3.0M0.57%
44Schwab Emerging Mkts Equity ET80852470691,500$3.0M0.57%
45Abbott Labs (ABT)ABLZF23,174$2.9M0.56%
46Nacco Industries Cl A (NC)62957910357,542$2.8M0.54%
47iShares CORE S&P 500 ETF (IVV)4642872003,834$2.6M0.50%
48Check Point Software (CHKP)CHKP13,798$2.6M0.49%
49Merck & Co (MRK)MRK23,864$2.5M0.48%
50Abbvie Inc (ABBV)ABBV10,767$2.5M0.47%
51IShares Global 100 ETF (IOO)46428757219,150$2.4M0.46%
52Hamilton Beach Brands Class AHBB136,898$2.3M0.43%
53Home Depot Inc (HD)HD6,520$2.2M0.43%
54Autodesk Inc (ADSK)ADSK7,550$2.2M0.43%
55Hyster-Yale Inc (HY)HY73,490$2.2M0.42%
56NextEra Energy (NEE)NEE-PW26,898$2.2M0.41%
57Pegasystems Inc (PEGA)PEGA35,904$2.1M0.41%
58Sysco Corp (SYY)SYY28,274$2.1M0.40%
59Chevron Corp (CVX)CVX13,504$2.1M0.39%
60Honeywell International Inc (H43851610610,530$2.1M0.39%
61Ulta Beauty Inc (ULTA)ULTA3,380$2.0M0.39%
62US Bancorp (USB)USB-PS37,332$2.0M0.38%
63Oracle Corp (ORCL)ORCL-PD10,156$2.0M0.38%
64Amplify Cybersecurity ETF (HAC03210866424,230$1.9M0.37%
65Walt Disney Corp (DIS)25468710616,850$1.9M0.37%
66Broadcom Inc (AVGO)AVGO5,450$1.9M0.36%
67Invesco Water Resources ETF (PIVZ26,700$1.9M0.36%
68Phillips 66 (PSX)PSX14,554$1.9M0.36%
69Bank Montreal (BMO)06367110113,684$1.8M0.34%
70Coca-Cola (KO)KO24,996$1.7M0.33%
71Verisk Analytics Inc Cl A (VRSVRSK7,810$1.7M0.33%
72Robo Global Robotics & Automat30150570724,480$1.7M0.32%
73Intel Corp (INTC)INTC44,363$1.6M0.31%
74Walmart Inc (WMT)WMT14,668$1.6M0.31%
75McDonalds (MCD)MCD5,254$1.6M0.31%
76iShares Muni Bd 2029 (IBMR)46436e16360,270$1.5M0.29%
77Bank of America (BAC)06050510427,538$1.5M0.29%
78iShares S&P 100 ETF (OEF)4642871014,410$1.5M0.29%
79Vanguard FTSE All World ex US92204277520,028$1.5M0.28%
80Zoetis Inc (ZTS)ZTS11,260$1.4M0.27%
81Illinois Tool Works (ITW)4523081095,636$1.4M0.27%
82Globalstar Inc (GSAT)GSAT22,000$1.3M0.26%
83Colgate Palmolive (CL)CL16,990$1.3M0.26%
84Verizon Communications (VZ)VZ32,118$1.3M0.25%
85Hologic Inc (HOLX)HOLX17,546$1.3M0.25%
86GE Aerospace (GE)3696043014,212$1.3M0.25%
87Texas Instruments Inc (TXN)8825081047,212$1.3M0.24%
88CVS Health Corp (CVS)CVS15,732$1.2M0.24%
89Taiwan Semiconductor Manufactu8740391004,066$1.2M0.24%
90SPDR Portfolio S&P400 Mid Cap78464a84721,250$1.2M0.24%
91General Motors Co (GM)37045v10014,914$1.2M0.23%
92Automatic Data Processing (ADPADP4,640$1.2M0.23%
93Weyerhauser (WY)WY49,870$1.2M0.23%
94AFLAC INC (AFL)AFL10,650$1.2M0.22%
95Aerovironment (AVAV)AVAV4,820$1.2M0.22%
96Pfizer Inc (PFE)PFE44,797$1.1M0.21%
97Carrier Global Corp (CARR)CARR21,098$1.1M0.21%
98State Street Corp (STT)STT-PG8,550$1.1M0.21%
99IBM Corp (IBM)INTR3,678$1.1M0.21%
100Salesforce Inc (CRM)CRM4,046$1.1M0.21%
101IShares 0-5 Year TIPS ETF (STI46429b74710,250$1.0M0.20%
102Blackstone Inc (BX)BX6,738$1.0M0.20%
103Danaher Corp (DHR)2358511024,516$1.0M0.20%
104Charles Schwab US REIT (SCHH)80852484749,332$1.0M0.20%
105Morgan Stanley (MS)MS-PQ5,776$1.0M0.20%
106Bank New York Mellon (BK)0640581008,750$1.0M0.19%
107Fastenal Co (FAST)FAST25,164$1.0M0.19%
108Sonoco Products (SON)83549510223,010$1.0M0.19%
109Smucker JM Co (SJM)83269640510,228$1.0M0.19%
110Target (TGT)TGT10,218$998,8240.19%
111iShares USA ESG Select (SUSA)4642888027,146$995,7590.19%
112SPDR S&P Dividend ETF (SDY)78464a7637,150$994,9940.19%
113Comcast Cl A (CMCSA)CCZ32,768$979,4360.19%
114CSG Systems (CSGS)12634910912,610$967,0610.19%
115Starbucks Corp (SBUX)SBUX11,336$954,6050.18%
116Vanguard Total Stock Market ET9229087692,820$945,5700.18%
117Bristol Myers (BMY)CELG-RI17,394$938,2320.18%
118Thermo Fisher Scientific (TMO)TMO1,566$907,4190.17%
1193M CO (MMM)MMM5,618$899,4420.17%
120iShares Muni Bd 2028 (IBMQ)46435u32534,950$893,8460.17%
121IShares Int'l Select Div ETF (46428844822,510$888,0190.17%
122Unilever PLC (UL)UNLYF13,508$883,4240.17%
123Regions Financial (RF)RF-PF32,250$873,9750.17%
124GE Vernova Inc (GEV)GEV1,336$873,1700.17%
125Vanguard Mid Cap ETF (VO)9229086292,970$861,9530.16%
126Vanguard Real Estate ETF (VNQ)9229085539,664$855,1670.16%
127Lowes Co (LOW)5486611073,492$842,1310.16%
128Vanguard Extended Market ETF (9229086524,020$840,6620.16%
129IShares MSCI Ireland ETF (EIRL46429b50711,390$837,2750.16%
130Corning Inc (GLW)GLW9,126$799,0730.15%
131Costco (COST)COST912$786,4540.15%
132iShares Muni Bd 2027 (IBMP)46435u28330,060$763,2230.15%
133Barings Participation InvestorMPV47,966$762,1800.15%
134Norfolk Southern (NSC)6558441082,634$760,4880.15%
135Trex Co (TREX)TREX21,420$751,4140.14%
136Stryker Corp (SYK)SYK2,068$726,8400.14%
137Advanced Micro Devices (AMD)AMD3,332$713,6820.14%
138Caterpillar Inc (CAT)CAT1,222$700,0470.13%
139Invesco S&P500 High Div Low VoIVZ14,000$672,0000.13%
140Amgen Inc (AMGN)AMGN2,004$655,9290.13%
141United Parcel Service Inc (UPSUPS6,512$645,9250.12%
142iShares iBonds 2029 Corp ETF (46436E20527,542$644,6210.12%
143Analog Devices (ADI)ADI2,334$632,9810.12%
144iShares TR S&P 500/Barra Growt4642873094,950$610,1370.12%
145BWX Technologies Inc (BWXT)BWXT3,500$604,9400.12%
146Linde PLC (LIN)LIN1,412$602,0630.12%
147Novartis ADR (NVS)NVSEF4,344$598,9070.11%
148IShares MSCI Canada ETF IV (EW46428650911,080$597,5440.11%
149Vanguard Total World Stock ETF9220427424,180$589,6310.11%
150Eaton Corporation PLC (ETN)ETN1,850$589,2430.11%
151Cincinnati Financial (CINF)1720621013,600$587,9520.11%
152Vaneck Intermediate Muni ETF (92189h20112,250$577,7100.11%
153Emerson Electric Co (EMR)EMR4,232$561,6710.11%
154State St SPDR Portfolio S&P 5078464a8547,000$561,5400.11%
155Otis Worldwide (OTIS)OTIS6,388$557,9920.11%
156ALPS Smith Core Plus Bond ETF00162Q34621,366$557,0120.11%
157Crowdstrike Hldgs Inc Cl A (CRCRWD1,188$556,8870.11%
158Qualcom Corp (QCOM)QCOM3,252$556,2550.11%
159iShares Muni Bd 2026 (IBMO)46435u25921,620$554,2720.11%
160Union Pacific Corp (UNP)UNP2,370$548,2280.10%
161iShares Intrm Govt/Credit Bond4642886125,050$542,1170.10%
162Medtronic PLC (MDT)MDT5,594$537,3600.10%
163Boeing Co (BA)BA-PA2,446$531,0760.10%
164AT&T INCT-PC21,362$530,6320.10%
165iShares iBonds 2026 Corp ETF (46435gaa021,698$525,7430.10%
166Bloom Energy Cl A (BE)BE5,906$513,1720.10%
167Electronic Arts (EA)EA2,500$510,8250.10%
168General Dynamics Corp (GD)GD1,502$505,6630.10%
169Vanguard Muni Bond Tax Exempt92290774610,050$505,4140.10%
170iShares TR S&P 500 Barra Value4642874082,374$503,4540.10%
171WD 40 CO (WDFC)WDFC2,556$503,2760.10%
172Accenture PLC Ireland Class AACN1,868$501,1840.10%
173Newmont Corp (NEM)NEMCL4,968$496,0550.09%
174Invesco Bulletshares 2026 CorpIVZ24,788$485,2250.09%
175Gilead Sciences Inc (GILD)GILD3,940$483,5960.09%
176Deere & Co (DE)DE1,038$483,2620.09%
177Korn Ferry (KFI)KFY7,300$481,9460.09%
178Vanguard High Dividend Yield E9219464063,350$480,7920.09%
179SPDR S&P Int'l Dividend ETF (D78463x77210,708$470,4590.09%
180Lemaitre Vascular (LMAT)LMAT5,750$466,3250.09%
181PNC Fin'l Services (PNC)6934751052,228$465,0500.09%
182Truist Financial (TFC)TFC-PR9,364$460,8020.09%
183Vicor Corp (VICR)VICR4,200$460,3200.09%
184AMCOR PLC F (AMCR)AMCCF54,414$453,8130.09%
185JPMorgan UltraShort Muni Incom46641q6548,800$448,2720.09%
186Air Products & Chemicals (APD)AIIR1,810$447,1060.09%
187Defiance AI & Power Infra (AIP88636R47919,880$439,7460.08%
188SPDR Intermediate Corp Bond ET78464a37513,000$439,5300.08%
189Sprouts Farmers Markets (SFM)85208m1025,420$431,8110.08%
190iShares iBonds 2028 Corp ETF (46435u51516,600$422,5530.08%
191TD Synnex (SNX)SNX2,800$420,6440.08%
192Astrazeneca PLC Sponsered ADRAZN4,512$414,7880.08%
193Chewy Cl A (CHWY)CHWY12,320$407,1760.08%
194Tesla Inc (TSLA)TSLA902$405,5620.08%
195T Rowe Price Group (TROW)TROW3,950$404,4010.08%
196iShares Muni Bd 2030 (IBMS)46438G68715,450$402,6270.08%
197Sealsq Corp (LAES)LAES20,000$75,6000.01%
198Quantum-Si Inc (QSI)QSIAW24,000$26,4000.01%
199Scandium Mining (SCYYF)80600l109236,000$13,1220.00%
200Primary Hydrogen Corp (HNATF)74167W10320,000$1,6000.00%
201Airborn Wireless (ABWN)AIIR18,021,394$00.00%