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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

Duncan Williams Asset Management, LLC

Quarter ended Q3 2025 · Filed November 12, 2025 · Accession 0001765380-25-000483

Total Value
$355.4M
Positions
164
Other Managers
0
Confidential Omitted
No
View on SEC.gov

Holdings (164)

#IssuerTicker / CUSIPSharesValue% of Filing
1VANGUARD GROWTH ETF922908736101,399$48.6M13.68%
2WISDOMTREE US QUALITY DIVIDEND GROWTH FUNDWT490,267$43.6M12.27%
3ISHARES CORE S&P US VALUE ETF464287663207,794$20.8M5.84%
4APPLE INCAAPL55,782$14.2M4.00%
5SCHWAB US DIVIDEND EQUITY ETF808524797466,110$12.7M3.58%
6TR ACTIVEBETA US SMALL CAP EQUITY ETFNVGLF148,409$11.1M3.13%
7VANGUARD S&P 500 ETF92290836315,918$9.7M2.74%
8MICROSOFTMSFT18,750$9.7M2.73%
9VANGUARD VALUE ETF92290874447,426$8.8M2.49%
10FIRST HORIZON CORPORATION COMFHN-PH358,347$8.1M2.28%
11VANGUARD FTSE DEVELOPED MARKETS ETF921943858128,681$7.7M2.17%
12BERKSHIRE HATHAWAY INC DEL CL B NEWBRK-A14,661$7.4M2.07%
13POWERSHARES QQQ TRIVZ12,151$7.3M2.05%
14VANGUARD SMALL-CAP ETF92290875125,214$6.4M1.80%
15VANGUARD FTSE EMERGING MARKETS ETF922042858116,240$6.3M1.77%
16AMAZON.COM INCAMZN24,399$5.4M1.51%
17AUTOZONE INC NEVAZO1,212$5.2M1.46%
18MASTERCARD INCMA6,799$3.9M1.09%
19VANGUARD MID-CAP ETF92290862911,947$3.5M0.99%
20SPDR S&P 500 ETF TRUSTSPY5,184$3.5M0.97%
21VISA INCV9,892$3.4M0.95%
22ALPHABET INC CAP STK CL CGOOG13,665$3.3M0.94%
23INVESCO S&P MIDCAP QUALITY ETFIVZ31,478$3.3M0.93%
24VANGUARD INTERNATIONAL HIGH DIVIDEND YIELD ETF92194679435,371$3.0M0.84%
25WALMART INC COMWMT27,165$2.8M0.79%
26FEDEX CORPFDX11,807$2.8M0.78%
27PROSHARES TR PSHS CS 130/3074347R24831,162$2.4M0.67%
28REGIONS FINANCIAL CORP NEWRF-PF88,890$2.3M0.66%
29VANGUARD DIVIDEND APPRECIATION ETF92190884410,860$2.3M0.66%
30VANGUARD RUSSELL 1000 GROWTH ETF92206C68014,558$1.8M0.49%
31UNITEDHEALTH GROUPUNH4,367$1.5M0.42%
32MARATHON PETE CORPMARA7,612$1.5M0.41%
33EASTGROUP PPTYS INC2772761018,300$1.4M0.40%
34ISHARES MSCI EAFE GROWTH INDEX ETF46428888512,251$1.4M0.39%
35CAPITAL GROUP INTERNATIONAL FOCUS EQUITY ETF14019W10946,586$1.4M0.39%
36KKR & CO INC COMKKRT10,507$1.4M0.38%
37COSTCO WHOLESALE CORP22160K1051,472$1.4M0.38%
38ISHARES RUSSELL MIDCAP GROWTH ETF4642874819,386$1.3M0.38%
39TESLA MOTORS INCTSLA2,970$1.3M0.37%
40RESMED INC COMRSMDF4,760$1.3M0.37%
41PIMCO INTERMEDIATE MUNICIPAL BOND ACTIVE EXCHANGE-TRADED FUND72201R86624,764$1.3M0.36%
42PIMCO DYNAMIC INCOMEFD SHS72201Y10164,527$1.3M0.36%
43FORTINET INC COMFTNT15,093$1.3M0.36%
44HOME DEPOTHD3,117$1.3M0.36%
45NVIDIA CORPORATION COMNVDA6,562$1.2M0.34%
46EXXON MOBIL CORP COMXOM10,799$1.2M0.34%
47ABBVIE INC COMABBV5,140$1.2M0.33%
48JOHNSON & JOHNSON COMJNJ6,381$1.2M0.33%
49PINNACLE FINL PARTNERS INC COM72346Q10412,443$1.2M0.33%
50SPDR DOW JONES INDUSTRIAL ETF78467X1092,377$1.1M0.31%
51BROOKFIELD ASSET MGMT INC COM VOTING11271J10715,981$1.1M0.31%
52ACCENTURE LTD BERMUDA CL AACN4,338$1.1M0.30%
53VANGUARD TOTAL INTL STOCK IDEX ETF92190976814,511$1.1M0.30%
54PEPSICO INC COMPEP7,502$1.1M0.30%
55LINDE PLC SHSLIN2,189$1.0M0.29%
56PROCTER AND GAMBLE CO COM7427181096,313$970,0050.27%
57GOOGLE INCGOOG3,985$968,7730.27%
58COPART INC COMCPRT21,274$956,6920.27%
59STRIDE INC COMLRN6,419$956,0700.27%
60VANGUARD SMALL-CAP GROWTH ETF9229085953,143$935,2810.26%
61CIPHER MINING INC COM17253J10673,004$919,1200.26%
62TAIWAN SEMICONDUCTOR MANUFACTURING CO LTD8740391003,284$917,1880.26%
63WORKDAY INC CL AWDAY3,775$908,7560.26%
64GOLDMAN SACHS S&P 500 PREMIUM INCOME ETFNVGLF16,570$865,4260.24%
65SALESFORCE COMCRM3,643$863,4090.24%
66PROTHENA CORP PLC SHSPRTA88,339$862,1890.24%
67TVARDI THERAPEUTICS INC COMTVRD22,030$858,5090.24%
68VANGUARD INTERNATIONAL DIVIDEND APPRECIATION ETF9219468109,581$858,1690.24%
69GOLDMAN SACHS GROUP INCGSCE1,069$850,9330.24%
70PALANTIR TECHNOLOGIES INC CL APLTR4,641$846,6900.24%
71ORACLE CORPORATIONORCL-PD2,976$836,8630.24%
72DEERE & CO COMDE1,684$770,0260.22%
73T-MOBILE US INC COMTMUSZ3,190$763,5690.21%
74NEWMONT CORP COMNEMCL9,013$759,9150.21%
75PROSHARES INVESTMENT GRADE-INTEREST RATE HEDGED74347B6079,546$754,1340.21%
76PULTE GROUP INC COM7458671015,667$748,8160.21%
77VICI PPTYS INC COM92565210922,868$745,7240.21%
78AMGEN INCAMGN2,626$740,9700.21%
79CAPITAL GROUP MUNICIPAL INCOME ETF14020Y20126,955$735,5950.21%
80ADVANCED MICRO DEVICES INC COMAMD4,414$714,1410.20%
81INTL BUSINESS MACHINESINTR2,480$699,7540.20%
82GUGGENHEIM ETF TRUST S&P 500 EQUAL WEIGHTIVZ3,643$691,0200.19%
83PIMCO ACTIVE BOND EXCHANGE-TRADED FUND72201R7757,086$661,4780.19%
84SPDR SER TR LEHMAN 1-3 MONTH T-BILL ETF78468R6636,979$640,3110.18%
85ABBOTT LABS COMABLZF4,604$616,6540.17%
86MERCK & CO INCMRK7,316$614,0320.17%
87ISHARES MSCI EAFE ETF4642874656,538$610,4510.17%
88NORTHROP GRUMMAN CORP COMNOC1,000$609,3200.17%
89BROADCOM INC COMAVGO1,816$598,9860.17%
90JPMORGAN CHASE & CO. COMVYLD1,888$595,5170.17%
91AVANTIS ALL INTERNATIONAL MARKETS EQUITY ETF0250721748,362$590,3570.17%
92RED RIVER BANCSHARES INC COMRRBI9,050$586,6210.17%
93TRUIST FINL CORP COM89832Q10912,773$584,0030.16%
94NYLI MERGER ARBITRAGE ETF45409B80016,060$576,5540.16%
95BENTLEY SYS INC COM CL BBSY11,192$576,1500.16%
96META PLATFORMS INC CL AMETA784$576,0880.16%
97WASTE MANAGEMENT INC94106L1092,520$556,4920.16%
98GENERAL DYNAMICS CORP COMGD1,600$545,6000.15%
99DANAHER CORP2358511022,733$541,7940.15%
100ISHARES U.S. AEROSPACE & DEFENSE ETF4642887602,534$530,1620.15%
101WISDOMTREE INTEREST RATE HEDGED HIGH YIELD BOND FUNDWT23,391$525,8300.15%
102VANGUARD MEGA CAP VALUE ETF9219108403,668$505,2300.14%
103PHILIP MORRIS INTL INC7181721092,761$447,9020.13%
104NAVITAS SEMICONDUCTOR CORP COMNVTS60,000$433,2000.12%
105STATE STREET SPDR BLOOMBERG CONVERTIBLE SECURITIES ETF78464A3594,666$422,2730.12%
106WELLS FARGO CO NEW COM9497461015,012$420,1470.12%
107BANK AMERICA CORP COM0605051047,890$407,0410.11%
108L3HARRIS TECHNOLOGIES INC COMLHX1,317$402,2250.11%
109ISHARES CONVERTIBLE BOND ETF46435G1024,001$400,3000.11%
110CAPITAL GROUP INTERNATIONAL EQUITY ETF14021M10711,808$398,1660.11%
111VANGUARD SHORT-TERM BOND ETF9219378274,952$390,7620.11%
112APELLIS PHARMACEUTICALS INC COMAPLS17,005$384,8230.11%
113RENASANT CORP COMRNST10,300$379,9670.11%
114ISHARES TR RUSSELL MIDCAP INDEX FD4642874993,922$378,6690.11%
115CAPITAL GROUP GROWTH ETF14020G1018,614$378,3250.11%
116ZYMEWORKS INC COMZYME22,095$377,3830.11%
117VANGUARD MID-CAP GROWTH ETF9229085381,283$376,9140.11%
118PFIZER INC COMPFE14,686$374,1920.11%
119ASML HOLDING N V N Y REGISTRY SHSASMLF383$370,7780.10%
120AT&T INC COMT-PC12,873$363,5360.10%
121ISHARES S&P 500 INDEX464287200539$360,6270.10%
122VERIZON COMMUNICATIONSVZ8,198$360,3120.10%
123EOS ENERGY ENTERPRISES INC COM CL AEOSE31,040$353,5460.10%
124GLOBAL MED REIT INC COM NEW37954A3039,855$332,2120.09%
125LOCKHEED MARTIN CORPLMT664$331,3820.09%
126CORE SCIENTIFIC INC NEW COM21874A10618,031$323,4760.09%
127BRISTOL-MYERS SQUIBB CO COMCELG-RI7,159$322,8570.09%
128NUCOR CORP COMNUE2,355$318,9480.09%
129YUM! BRANDS INCYUM2,050$311,6000.09%
130PHILLIPS 66PSX2,287$311,0780.09%
131MID-AMER APT CMNTYS INC59522J1032,180$304,5870.09%
132ALLSTATE CORPALL-PJ1,411$302,7720.09%
133STATE STREET SPDR PORTFOLIO S&P 600 SMALL CAP ETF78468R8536,424$297,5380.08%
134ELI LILLY & CO COMLLY383$292,3660.08%
135VANGUARD INTERMEDIATE-TERM BOND9219378193,694$288,4640.08%
136JABIL INC COMJBL1,320$286,6020.08%
137CORNING INC COMGLW3,459$283,7420.08%
138SOUTHERN CO COMSOMN2,957$280,2380.08%
139ENTERPRISE PRODS PARTNERS L P2937921078,920$278,9160.08%
140ISHARES 3-7 YR TREASURY BOND ETF4642886612,329$278,3390.08%
141COCA COLA CO COMKO4,126$273,6470.08%
142ISHARES BITCOIN TRUST ETFIBIT4,148$269,6290.08%
143STRATEGY INC CL A NEWSTRK832$268,0790.08%
144HEALTH CARE PPTY INVS INCDOC13,905$266,2890.07%
145AFLAC INC COMAFL2,365$264,1710.07%
146VANGUARD REIT INDEX ETF9229085532,861$261,5450.07%
147ISHARES CORE MSCI EMERGING MARKETS ETF46434G1033,965$261,3730.07%
148VANGUARD TAX-EXEMPT BOND ETF9229077465,175$259,1120.07%
149IRON MOUNTAIN INC46284V1012,522$257,0540.07%
150BANCORPSOUTH INC12740C1036,817$255,9100.07%
151GE AEROSPACE COM NEW369604301845$254,3360.07%
152MARSH & MCLENNAN COS INC COM5717481021,202$242,2990.07%
153ISHARES DJ SELECT DIVIDEND4642871681,627$231,1560.07%
154NIKE INC CLASS BNKE3,184$222,0300.06%
155WISDOMTREE INTERNATIONAL EQUITY FUNDWT3,274$216,7970.06%
156STRAWBERRY FIELDS REIT INC COMSTRW17,471$214,8940.06%
157CONOCOPHILLIPS COMCOP2,270$214,7190.06%
158INVESCO S&P 500 PURE GROWTH ETFIVZ4,484$213,9590.06%
159JPMORGAN ULTRA-SHORT INCOME ETF46641Q8374,147$210,3770.06%
160CATERPILLAR INC COMCAT438$208,9920.06%
161ENERGY TRANSFER EQUITY L P COM UNIT LTD PARTNERSHIPET-PI10,538$180,8250.05%
162NUVEEN DYNAMIC MUN OPPORTUNITI COM SHSNU14,846$154,2480.04%
163REDWOOD TRUST INC 7.75 06/15/2027RWTQ25,000$25,0130.01%
164CANAAN INC SPONSORED ADSCAN10,000$8,8160.00%