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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

Investment Research & Advisory Group, Inc.

Quarter ended Q2 2025 · Filed July 17, 2025 · Accession 0001802136-25-000004

Total Value
$268.4M
Positions
246
Other Managers
0
Confidential Omitted
No
View on SEC.gov

Holdings (246)

#IssuerTicker / CUSIPSharesValue% of Filing
1VANGUARD S&P 500 ETF IV922908363110,107$62.5M23.30%
2APPLE INCAAPL75,382$15.5M5.76%
3NVIDIA CORPNVDA68,700$10.9M4.04%
4MICROSOFT CORPMSFT20,945$10.4M3.88%
5AMAZON.COM INCAMZN40,658$8.9M3.32%
6MASTERCARD INC CLASS AMA13,497$7.6M2.83%
7ALPHABET INC CLASS AGOOG42,738$7.5M2.81%
8JPMORGAN CHASE & COVYLD25,608$7.4M2.77%
9META PLATFORMS INC CLASS AMETA9,674$7.1M2.66%
10VISA INC CLASS AV19,209$6.8M2.54%
11CHARLES SCHWAB CORPSCHW-PJ66,078$6.0M2.25%
12ELI LILLY AND COLLY7,108$5.5M2.06%
13BLACKROCK INC NEWBLK5,254$5.5M2.05%
14UBER TECHNOLOGIES INCUBER58,604$5.5M2.04%
15NETFLIX INCNFLX3,851$5.2M1.92%
16COSTCO WHSL CORP NEW22160K1054,658$4.6M1.72%
17BOOKING HLDGS INCBKNG738$4.3M1.59%
18SALESFORCE INCCRM15,260$4.2M1.55%
19GE AEROSPACE36960430115,981$4.1M1.53%
20VEEVA SYS INC CLASS AVEEV14,163$4.1M1.52%
21CHUBB LTD FCB13,714$4.0M1.48%
22BERKSHIRE HATHAWAY CLASS BBRK-A7,626$3.7M1.38%
23PHILIP MORRIS INTL INC71817210920,050$3.7M1.36%
24FISERV INCFISV19,582$3.4M1.26%
25JOHNSON & JOHNSONJNJ20,866$3.2M1.19%
26GENERAL DYNAMICS CORPGD10,621$3.1M1.15%
27STARBUCKS CORPSBUX31,259$2.9M1.07%
28VANGUARD SMALL CAP ETF IV92290875112,017$2.8M1.06%
29ASML HLDG N V FSPONSORED ADR 1 ADR REPS 1 ORD SHSASMLF3,517$2.8M1.05%
30IQVIA HLDGS INCIQV17,202$2.7M1.01%
31LOCKHEED MARTIN CORPLMT5,781$2.7M1.00%
32BOEING COBA-PA12,103$2.5M0.94%
33OTIS WORLDWIDE CORPOTIS20,918$2.1M0.77%
34PROCTER & GAMBLE CO74271810911,918$1.9M0.71%
35SPDR S&P 500 ETF IV78468R7962,920$1.8M0.67%
36ARCHER-DANIELS MIDLAND CADM34,154$1.8M0.67%
37VANGUARD RUSSELL 2000 ETF92206C66420,292$1.8M0.66%
38CARMAX INCKMX26,126$1.8M0.65%
39ADOBE INCADBE4,134$1.6M0.60%
40GE VERNOVA INCGEV2,453$1.3M0.48%
41ISHARES CORE MSCI EAFE ETF IV46432F84215,524$1.3M0.48%
42VANGUARD TOTAL BOND MARKET ET ETF IV92193783516,936$1.2M0.46%
43THERMO FISHER SCIENTIFICTMO2,763$1.1M0.42%
44VANGUARD TOTAL INTERNATIONAL STK ETF92190976814,159$978,2580.36%
45DANAHER CORP2358511024,716$931,6220.35%
46ISHARES CORE S&P MID CAPETF IV46428750714,472$897,5650.33%
47HOME DEPOT INCHD2,390$876,3520.33%
48ISHARES CORE S&P 500 ETF IV4642872001,305$810,3090.30%
49ISHARES S&P 500 GROWTH ETF IV4642873097,143$786,4480.29%
50ISHARES CORE MSCI EMERGING ETF IV46434G10311,553$693,5290.26%
51ALPHABET INC CLASS CGOOG3,883$688,7330.26%
52INDEPENDENCE RLTY TR INCREIT45378A10636,098$638,5740.24%
53VANGUARD FTSE ALL WORLD EX US ETF IV9220427759,284$624,0980.23%
54CHOICE HOTELS INTL INC1699051064,214$534,6780.20%
55MERCK & CO. INC.MRK6,513$515,5750.19%
56ISHARES S&P 500 VALUE ETF IV4642874082,555$499,4560.19%
57PALO ALTO NETWORKS INCPANW2,405$492,1590.18%
58VANGUARD ENERGY ETF IV92204A3063,995$476,0020.18%
59VANGUARD SMALL CAP VALUEETF IV9229086112,083$406,2060.15%
60SPDR PORTFOLIO HIGH YIELD BND ETF IV78468R60616,718$397,8960.15%
61BROADCOM INCAVGO1,284$354,1450.13%
62VANGUARD MEGA CAP VALUE ETF9219108402,603$341,5140.13%
63SYNOVUS FINL CORPSNPS5,717$295,8550.11%
64THE COCA-COLA COKO4,068$287,8110.11%
65FEDEX CORPFDX1,171$266,1800.10%
66LOWES COS INC5486611071,132$251,1570.09%
67ISHARES TOTAL US STOCK MARKET ETF IV4645871501,743$235,4130.09%
68BANK OF AMERICA CORP0605051044,790$226,6740.08%
69INVSC VARIABLE RATE PREFERRED ETF IVIVZ9,028$220,7380.08%
70AVANTIS US SMALL CAP VALUE ETF0250728772,333$212,5820.08%
71ISHARES CORE S&P SMALL CAP ETF IV4642878041,777$194,3000.07%
72MCDONALDS CORPMCD599$175,2620.07%
73CROWDSTRIKE HLDGS INC CLASS ACRWD342$174,1840.06%
74SPDR S&P DIVIDEND ETF IV78464A7631,237$167,9190.06%
75ABBVIE INCABBV879$163,1600.06%
76GOLDMAN SACHS GROUP INCGSCE214$152,1210.06%
77BROOKFIELD CORP FCLASS A11271J1072,250$139,1630.05%
78ISHARES ESG AWARE MSCI USA ETF46435G4251,015$137,3480.05%
79WALMART INCWMT1,391$136,0870.05%
80AMGEN INCAMGN481$134,4310.05%
81ALTRIA GROUP INCMO2,172$127,3440.05%
82VANGUARD TOTAL INTERNATIONAL BND ETF92203J4072,251$111,4590.04%
83AMERICAN TOWER CORP NEW REIT03027X100500$110,5100.04%
84ARISTA NETWORKS INCANET1,038$106,1980.04%
85WELLS FARGO & CO9497461011,225$98,1470.04%
86AT&T INCT-PC3,348$96,8910.04%
87DISNEY WALT CO254687106763$94,6200.04%
88CITIGROUP INCC-PR1,108$94,3130.04%
89INVESCO QQQ-U ETFIVZ168$92,6760.03%
90ENSTAR GROUP LIMITED FG3075P101273$91,8260.03%
91CONSTELLATION ENERGY CORCEG280$90,3730.03%
92AMERICAN CENTURY QUALITYPREF ETF0250725392,515$88,9160.03%
93VANECK SEMICONDUCTOR ETF92189F676304$84,9260.03%
94TESLA INCTSLA262$83,2270.03%
95RTX CORPRTX539$78,7050.03%
96NOVO-NORDISK A S FSPONSORED ADR 1 ADR REPS 1 ORD SHSNONOF1,115$76,9570.03%
97BRISTOL MYERS SQUIBB COCELG-RI1,650$76,3790.03%
98DUKE ENERGY CORP NEWDUKB632$74,6920.03%
99TRUIST FINL CORP89832Q1091,643$70,6480.03%
100ORACLE CORPORCL-PD323$70,6170.03%
101ZETA GLOBAL HLDGS CORP CLASS AZETA4,433$68,6670.03%
102LAM RESH CORPLRCX675$65,7050.02%
103REDDIT INC CLASS ARDDT430$64,7450.02%
104FIRST TRUST NASDAQ CYBRSCRTY ETF33734X846840$63,4870.02%
105CHEVRON CORP NEWCVX380$54,4120.02%
106TECHNOLOGY SELECT SECTORSPDR ETF IV81369Y803212$53,7700.02%
107AMERICAN EXPRESS COAXP166$52,9610.02%
108AIR PRODS & CHEMS INCAIIR185$52,1810.02%
109SERVICENOW INCNOW49$50,3760.02%
110SOUTHERN COSOMN504$46,2820.02%
111ABBOTT LABSABLZF333$45,2910.02%
112GILEAD SCIENCES INCGILD402$44,5900.02%
113PERFORMANCE FOOD GROUP CPFGC500$43,7350.02%
114PEPSICO INCPEP320$42,3780.02%
115EXXON MOBIL CORPXOM387$41,7190.02%
116EXELON CORPEXC900$39,0780.01%
117INVESCO NASDAQ NEXT GEN 100 ETFIVZ1,212$38,7610.01%
118AUTOMATIC DATA PROCESSINADP125$38,5500.01%
119CARRIER GLOBAL CORPCARR502$36,7410.01%
120OCCIDENTAL PETE CORP674599105852$35,7930.01%
121GUARDIAN PHARMACY SVCS ICLASS A40145W1011,666$35,5020.01%
122DOVER CORPDOV182$33,4440.01%
123CIRRUS LOGIC INCCRUS300$31,2770.01%
124BROOKFIELD ASSET MGMT FCLASS AG16169107565$31,2330.01%
125ALCOA CORPAA1,019$30,0710.01%
126AUTODESK INCADSK97$30,0280.01%
127ACCENTURE PLC IRELAND FCLASS AACN97$28,9920.01%
128REALTY INCOME CORP REITO502$28,9390.01%
129TARGET CORP EQUITY CLASS EQUITYTGT289$28,5100.01%
130MOHAWK INDS INC608190104269$28,2020.01%
131GLOBE LIFE INCGL-PD225$27,9650.01%
132CISCO SYS INCCSCO401$27,8210.01%
133DELTA AIR LINES INC DELDAL549$27,0000.01%
134EMERSON ELEC COEMR201$26,7990.01%
135MERCADOLIBRE INCMELI10$26,1360.01%
136FIRST FINL BANKSHARES IN32020R109719$25,8700.01%
137FIRSTENERGY CORPFE640$25,7660.01%
138KIMBERLY CLARK CORPKMB197$25,3970.01%
139SHOPIFY INC FCLASS ASHOP220$25,3770.01%
140SELECT STR FINANCIAL SELECT S ETF IV81369Y605477$25,0120.01%
141MURPHY USA INCMUSA61$24,8150.01%
142ISHARES MSCI CHINA ETF46429B671439$24,1890.01%
143PFIZER INCPFE963$23,3530.01%
144YIELDMAX MSFT OPTN INC STRG ETF88634T4281,286$22,9310.01%
145MONDELEZ INTL INC CLASS A609207105340$22,9300.01%
146HORMEL FOODS CORPHRL728$22,0220.01%
147O REILLY AUTOMOTIVE INC67103H107240$21,6310.01%
148NU HLDGS LTD FCLASS ANU1,500$20,5800.01%
149SPDR FUND CONSUMER DISCRE SEL ETF IV81369Y40794$20,4720.01%
150SELECT SECTOR HEALTH CARE SPD ETF IV81369Y209142$19,2310.01%
151SEA LTD FUNSPONSORED ADR 1 ADR REPS 1 ORD SHSSE116$18,5530.01%
152CRH PUBLIC LIMITED CO FCRH200$18,3600.01%
153SCHWAB US LARGE CAP GROWTH ETF808524300611$17,8710.01%
154GARTNER INCIT43$17,3810.01%
155ZOETIS INC CLASS AZTS108$16,8430.01%
156COMCAST CORP NEW CLASS ACCZ434$15,4890.01%
157STATE STR CORPSTT-PG142$15,1000.01%
158IDEXX LABS INC45168D10427$14,4810.01%
159WINGSTOP INCWING42$14,1530.01%
160CATERPILLAR INCCAT35$13,6840.01%
161GENERAL MTRS CO37045V100265$13,0810.00%
162SERVICE CORP INTL817565104156$12,7480.00%
163SHELL PLC FTENDER OFFER EXP:RYDAF165$11,6180.00%
164VANGUARD FTSE DEVELOPED MATS ETF IV921943858199$11,3750.00%
165CHIPOTLE MEXICAN GRILL ICMG200$11,2300.00%
166BAKER HUGHES CO. A CLASS ABKR287$11,0230.00%
167PRUDENTIAL FINL INCPUKPF101$10,8830.00%
168VANGUARD SHORT-TERM BONDETF IV921937827134$10,6130.00%
169GRAYSCALE BITCOIN MINI TRUST ETF IVGBTC212$10,1230.00%
170INTEL CORPINTC451$10,1020.00%
171UNITED PARCEL SVC INC CLASS BUPS100$10,0940.00%
172ISHARES BITCOIN ETFIBIT161$9,8550.00%
173MEDTRONIC PLC FMDT109$9,5020.00%
174WISDOMTREE INDIA EARNINGS ETFWT200$9,4940.00%
175ATLASSIAN CORP CLASS ATEAM45$9,1390.00%
176PAYPAL HLDGS INCPYPL120$8,9180.00%
177DEXCOM INCDXCM100$8,7290.00%
178GE HEALTHCARE TECHNOLOGITENDER OFFER EXP:GEHC110$8,1480.00%
179SOFI TECHNOLOGIES INCSOFI436$7,9400.00%
180NORTHROP GRUMMAN CORPNOC15$7,8320.00%
181AIRBNB INC CLASS AABNB55$7,2790.00%
182NUCOR CORPNU54$6,9950.00%
183EMCOR GROUP INCEME13$6,9540.00%
184CORTEVA INCCTVA93$6,9310.00%
185BLOCK INC A CLASS ABSQKZ98$6,6570.00%
186LULULEMON ATHLETICA INCLULU28$6,6520.00%
187CONOCOPHILLIPSCOP73$6,6360.00%
188WARNER BROS DISCOVERY INWBD572$6,5550.00%
189DUPONT DE NEMOURS INCDD93$6,3790.00%
190UNUSUAL WHALES SUB DEMO TRAD ETF886364199152$6,3700.00%
191INVSC BUYBACK ACHIEVERS ETF IVIVZ50$6,1800.00%
192KRAFT HEINZ COKHC210$5,4220.00%
193INVESCO RAFI US 1000 ETF IVIVZ125$5,3180.00%
194PROLOGIS INC REITPLDGP50$5,2560.00%
195VANGUARD MID CAP ETF IV92290862917$4,7570.00%
196UNITEDHEALTH GROUP INCUNH15$4,6800.00%
197SCHLUMBERGER LTD FSLB133$4,4950.00%
198MATCH GROUP INC NEWMTCH142$4,3860.00%
199VERIZON COMMUNICATIONS IVZ100$4,3270.00%
200VANGUARD TOTAL STOCK MARKET E ETF IV92290876914$4,2550.00%
201CSX CORPCSX124$4,0610.00%
202GENERAC HLDGS INCGNRC28$4,0100.00%
203HERSHEY COHSY22$3,6800.00%
204T-MOBILE US INCTMUSZ15$3,5880.00%
205VANGUARD HIGH DIVIDEND YIELD ETF IV92194640626$3,4660.00%
206WABTEC92974010816$3,3540.00%
207FORTUNE BRANDS INNOVATIOFBIN59$3,0520.00%
208ENTERPRISE PRODS PART LP29379210798$3,0390.00%
209ARK AUTONOMOUS TECH RBTCS ETF00214Q20332$2,8530.00%
210MORGAN STANLEYMS-PQ18$2,5350.00%
211DOW INCDOW93$2,4630.00%
212INTERCONTINENTAL HOTEL FUNSPONSORED ADR 1 ADR REPS 1 ORD SHS45857P80619$2,1910.00%
2133M COMMM13$1,8360.00%
214TAIWAN SEMICONDUCTOR M FSPONSORED ADR 1 ADR REPS 5 ORD SHS8740391008$1,8120.00%
215PELOTON INTERACTIVE INCPTON260$1,8040.00%
216SPOTIFY TECHNOLOGY S A FSPOT2$1,5350.00%
217PROTALIX BIOTHERAPEUTICSPLX1,000$1,4800.00%
218VIATRIS INCVTRS156$1,3970.00%
219BLACKROCK ENERGY AND RESBLK102$1,3530.00%
220LUMEN TECHNOLOGIES INCLUMN299$1,3100.00%
221ADVANCED MICRO DEVICAMD8$1,1350.00%
222MFA FINL INC REIT55272X607118$1,1160.00%
223ISHARES MSCI INDIA INDEXETF IV46429B59820$1,1140.00%
224YIELDMAX MSTR OPT INCM STRTGY ETF88634T49350$1,1090.00%
225BROOKFIELD WEALTH SO A FCLASS ABNT15$9270.00%
226ADVISORSHS PURE US CANNABIS ETF IV00768Y453350$8440.00%
227AERCAP HOLDINGS N V FAER7$8190.00%
228BROOKFIELD BUSINESS P LPBBUC30$7780.00%
229SOLAREDGE TECHNOLOGIES ISEDG38$7750.00%
230RIVIAN AUTOMOTIVE INC CLASS ARBLX51$7010.00%
231MASTERBRAND INCMBC57$6230.00%
232SOUNDHOUND AI INC CLASS ASOUNW50$5370.00%
233BROOKFIELD BUSINESS CO FCLASS ABBUC15$4680.00%
234ORGANON & COOGN26$2520.00%
235MR COOPER GROUP INC62482R1071$1490.00%
236OCCIDENTAL PETE C 27 WTSWARRANTS EXP 08/03/276745991627$1450.00%
237ORION PPTYS INC REITONL50$1070.00%
238REVOLVE GROUP INC CLASS ARVLV5$1000.00%
239SPDR PORTFOLIO S&P 400 MID CP ETF IV78464A8471$540.00%
240SCHWAB US DIVIDEND EQUITY ETF8085247972$540.00%
241PRINCIPAL U S SMALL CAP ETF74255Y6071$530.00%
242EATON VANCE TOTAL RETURNBOND ETFMS-PQ1$510.00%
243CANOPY GROWTH CORP FCGC37$450.00%
244FIDELITY ENHANCED INTRNTNL ETF31609A4041$330.00%
245WOLFSPEED INCWOLF66$260.00%
246WALGREENS BOOTS ALLIANCE9314271081$110.00%